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T R O U B L E D C O M P A N Y R E P O R T E R
Tuesday, September 9, 2025, Vol. 29, No. 251
Headlines
100 PERCENT CHIROPRACTIC: Taps Rountree Leitman Klein as Counsel
1600 WESTERN: Court Extends Cash Collateral Access to Sept. 26
1713 N CAMERON: Seeks to Tap Tyler Bartl & Ramsdell as Counsel
24 HOUR FITNESS: Bid to Amend Complaint in Allied Case Granted
24 HOUR FITNESS: Singh Appeal on Claim Disallowance Order Tossed
2U INC: Court Tosses Beaumont v. Paucek, et al. Securities Suit
315 MANHATTAN: Seeks to Hire A.Y. Strauss as Bankruptcy Counsel
315 MANHATTAN: Seeks to Hire Northgate as Real Estate Advisor
381 INVESTMENTS: Seeks Subchapter V Bankruptcy in Indiana
500 BLOCK INVESTMENT: Gets OK to Hire Barski Law Firm as Counsel
875 CONLEY CV22: Seeks to Hire BFSNG Law Group as Legal Counsel
ACADEMY AT PENGUIN: Hires Kelleher & Sadowsky Associates as Broker
AGEMY FAMILY: Seeks to Hire David W. Steen as Bankruptcy Counsel
AGEMY FAMILY: Unsecured Creditors to be Paid in Full in Plan
ALIEN TECHNOLOGIES: Gets OK to Use Cash Collateral Until Sept. 30
ALVIN'S COURIER: Seeks to Hire Bush Law Firm LLC as Attorney
AMERICA'S GARDENING: Committee Hires Dundon as Financial Advisor
AMERICA'S GARDENING: Committee Hires Gibbons as Bankruptcy Counsel
ANGLIN CONSULTING: Seeks to Hire McNamee Hosea as Legal Counsel
APOLLO CONSTRUCTION: Taps Bleakley Bavol Denman & Grace as Counsel
ARCHANGEL DISCIPLINES: Taps Berkeley Bridge Advisors as Consultant
ARIZONA STATE MASONRY: Seeks Chapter 11 Bankruptcy in Arizona
ARP HOSPITALITY: Seeks to Tap Bertram Siegel as Litigation Counsel
ARTICON HOTEL: Robert Handler Named Subchapter V Trustee
ASOCIACION HOSPITAL: Hires CPA Luis R. Carrasquillo as Consultant
ASOCIACION HOSPITAL: Hires Lugo Mender Group as Bankruptcy Counsel
ASSURE AFFORDABLE: Seeks to Hire Thomas A. Duke Company as Broker
ASSURED ACQUISITIONS: Unsecured Creditors to Get Nothing in Plan
ATI INC: S&P Raises Issuer Credit Rating to 'BB', Outlook Stable
AUTOLYCUS LLC: Seeks Chapter 11 Bankruptcy in Illinois
AVANT GARDNER: Unsecured Creditors Want Trustee Takeover
BACK DRAUGHTS: Seeks to Tap Extra Hands Accounting as Accountant
BELLA INVESTMENT: Case Summary & Eight Unsecured Creditors
BENSON HILL: Seeks Court OK to Convert Chapter 11 to Chapter 7
BIG LEVEL: Seeks to Tap Geno and Steiskal as Bankruptcy Counsel
BOOKS INC: Asks Court Approval to Be Acquired by Barnes & Noble
BRIGGS BROTHERS: Court Stays Brifen Lawsuit Due to Bankruptcy
BUSHWICK 1098: Seeks Chapter 11 Bankruptcy in New York
C & S MEMORIAL: Seeks to Tap H. Kent and Caleb Aguillard as Counsel
CAPITAL WHOLESALE: Voluntary Chapter 11 Case Summary
CAR TOYS: U.S. Trustee Appoints Creditors' Committee
CAROLINA PROUD: Gets OK to Use Cash Collateral Until Oct. 16
CBRM REALTY: Court Denies Bid to Appoint Equity Committee
CBRM REALTY: Gets Ch. 11 Exit Plan OK With White & Case Guidance
CHG US: Seeks to Extend Plan Exclusivity to December 8
CHICAGO SMILES: Court Extends Cash Collateral Access to Oct. 11
CIVIL LLC: U.S. Trustee Appoints Creditors' Committee
CK BUILDERS: Seeks to Hire Century 21 Burroughs as Estate Broker
CLAIRE'S STORES: Closes Alabama Locations in Chapter 11
CLEVER BEING: Seeks to Hire Neeleman Law Group as Legal Counsel
COAST TO COAST: Unsecureds Will Get 30% of Claims over 60 Months
CONTRACTOR SALES: Public Sale Auction Set for Sept. 11, 2025
CRED INC: Ex-Execs Sentenced For $150MM Wire Fraud Scheme
CS-ORED LLC: Seeks to Tap EXIT Realty Consultants as Estate Broker
DAYTON HOTELS 2: Seeks to Tap Integra as Appraiser & Expert Witness
DAYTON HOTELS 2: Taps Contemporary Business Solutions as Accountant
DB TRANSPORT: Case Summary & 20 Largest Unsecured Creditors
DEPLOYED SOLDIERS: Seeks to Hire David Cahn LLC as Attorney
DETCO INC: Unsecured Creditors Will Get 36.7% of Claims in Plan
DIOCESE OF BUFFALO: Seeks to Hire Jones Day as Corporate Counsel
DISCOUNT AUTO: Hires Steidl and Steinberg as Bankruptcy Counsel
DP LOUISIANA: Court Extends Cash Collateral Access to Oct. 2
E.O. PROPERTIES: Todd Hennings Named Subchapter V Trustee
EASTERN COLORADO: Plan Exclusivity Period Extended to December 15
EDWARD'S BODY: Seeks to Tap Kenneth Abrams as Bankruptcy Counsel
ENKB-MONTICELLO: Voluntary Chapter 11 Case Summary
FEC RESOURCES: PXP Energy Holds 81.25% Equity Stake
FINLEY DESIGN: Court Extends Cash Collateral Access to Sept. 30
FIRST WAY: Amends Unsecured Claims Pay Details
FISCHER AG: Files Emergency Bid to Use Cash Collateral
FLOWER APARTMENTS: Hires Alexander Valuation Group as Appraiser
FLUENT INC: Phillip Frost, Trust Hold 28.3% Stake
FREE SPEECH: Alex Jones Takes $1B Sandy Hook Judgment to S.C.
FRONTIER ENERGY: Public Sale Auction Set fro Sept. 11, 2025
FRUGALITY INC: Unsecured Creditors to Split $12K in Plan
FULL STANDARD: Seeks to Tap Farsad Law Office as Bankruptcy Counsel
GEON PERFORMANCE: S&P Alters Outlook to Negative, Affirms 'B' ICR
GLASS MANAGEMENT: Court Extends Cash Collateral Access to Sept. 24
GLOBAL CHOICE: Seeks to Hire Orville & McDonald Law as Attorney
GREENWAVE TECHNOLOGY: Gets Nasdaq Notice for Delayed Q1-Q2 Filings
GULF STATES: William Harris Named Subchapter V Trustee
GUNNISON VALLEY: Seeks to Hire Bluebird Real Estate as Broker
HARVEY CEMENT: Gets Two-Month Extension to Use Cash Collateral
HOME FURNISHINGS: Shuts Down, Holds Going Out of Business Sale
HOYA MIDCO: S&P Downgrades ICR to 'B-' on Elevated Competition
IMSTEM BIOTECHNOLOGY: Case Summary & 12 Unsecured Creditors
IMSTEM BIOTECHNOLOGY: Seeks Ch. 11 Bankruptcy w/ Over $2.7MM Debt
INTREX INC: Gets Court OK to Use Cash Collateral Until Sept. 30
IPG FRANCHISING: U.S. Trustee Appoints Creditors' Committee
ITANOM LLC: Gets OK to Hire Essex Richards as Bankruptcy Counsel
J PAUL ROOFING: Katharine Battaia Clark Named Subchapter V Trustee
JEFRYN PARK: Seeks to Hire Heskin & Proper as Litigation Counsel
JHRG MANUFACTURING: Hires George Oliver PLLC as Legal Counsel
JTRE 14 VESEY: Claims to be Paid from Property Sale Proceeds
KIPP NORTH: S&P Lowers 202A/B Revenue Bond Ratings to 'B+'
KOHL'S CORP: S&P Downgrades ICR to 'B+', Outlook Negative
KOLSTEIN MUSIC: Unsecured Creditors to Split $40K over 3 Years
KTRV LLC: Unsecureds Will Get 5% to 10% of Claims in Plan
KWENCH JUICE: Unsecured Creditors to Split $54,500 over 3 Years
LANDMARK RECOVERY: Hires Sherrard Roe Voigt & Harbison as Counsel
LEFEVER MATTSON: Perry Johnson Represents the Group
LG SOLAR: Behrooz Vida Named Subchapter V Trustee
LHW CONSTRUCTION: Seeks to Hire Korompis Law Offices as Counsel
LHW CONSTRUCTION: Taps Korompis Law Offices as Bankruptcy Counsel
LIFESCAN GLOBAL: Committee Taps Jefferies as Investment Banker
LIFESCAN GLOBAL: Unsecureds Will Get 1% of Claim in Plan
LINDEN LOCAL: Seeks Chapter 7 Bankruptcy in New York
LINQTO TEXAS: Deaton Law Files Supplemental Rule 2019 Statement
LION RIBBON: Taps Deloitte Tax as Tax Advisory Services Provider
M & M FARMS: Case Summary & Two Unsecured Creditors
MANE SOURCE: Unsecured Creditors to Split $94K over 7 Years
MARK L. OBMAN DDS: Case Summary & 20 Largest Unsecured Creditors
MARKUS CORP: Court Extends Cash Collateral Access to Sept. 30
MARQUIE GROUP: Ends Buy-Sell Deal Between CEO and Ryan O'Leary
MIDSOUTH AUTO: Case Summary & Eight Unsecured Creditors
MINORTICO REALTY: Seeks to Hire Narissa A. Joseph PC as Attorney
MOSAIC CO: Claims Filing Deadline Set for Sept. 10, 2025
MOSAIC COMPANIES: Committee Hires Gilbert as Insurance Counsel
MOSAIC COMPANIES: North Hills Steps Down as Committee Member
MOUNTAINEER MERGER: S&P Suspends 'SD' LT Issuer Credit Rating
MVP GROUP: Files Emergency Bid to Use Cash Collateral
MY STORE-SOLWAY: Mary Sieling Named Subchapter V Trustee
NAKED CUPCAKE: Aaron Cohen Named Subchapter V Trustee
NAVELLIER & ASSOCIATES: Case Summary & 11 Unsecured Creditors
NB MOUNTAIN: Seeks to Hire Barth & Thompson as Local Counsel
NB MOUNTAIN: Seeks to Hire Meridian as Restructuring Advisor
NB MOUNTAIN: Seeks to Tap Raines Feldman Littrell as Legal Counsel
NEUEHOUSE INC: Shuts Down, Prepares Chapter 7 Bankruptcy Filing
NEW RITE: Seeks to Extend Plan Exclusivity to December 31
NIKOLA CORP: Court Okays Ch.11 Plan Despite Former-CEO Pardon Fight
NOBLE LIFE: Wins OK to Use Cash Collateral Until Oct. 31
NOW SOLUTIONS: Case Summary & 20 Largest Unsecured Creditors
NUMERICAL CONCEPTS: Seeks to Tap Kroger Gardis & Regas as Counsel
OMEGA INVESTIGATION: Hires Alexis Fuentes-Hernandez as Counsel
ONDAS HOLDINGS: To Acquire 51% Stake in Smart Precision Optics
P-D VALMIERA: Motion for Reconsideration of Claim No. 10 Tossed
P4 EXECUTIVE: Voluntary Chapter 11 Case Summary
PALMAS ATHLETIC: Seeks to Tap Richard & Escalera as Special Counsel
PEGASUS BUILDERS: $25M Unsecured Claims to Split $1.56M in Plan
PEGASUS BUILDERS: Taps S.J. Gorowitz Accounting as Tax Preparer
PI ESTATES: Seeks to Hire Dal Lago Law as Bankruptcy Counsel
PLAZA UTILITIES: Seeks to Hire Going Property Group LLC as Broker
POWIN LLC: Deadline to File Claims Set for Sept. 29, 2025
PRAESUM HEALTHCARE: Taps Carol Fox of GlassRatner Advisory as CRO
PRESENTATION MEDIA: Gets Interim OK to Use Cash Collateral
QUALITY FIRST: Steffes Firm Represents B&S Equipment & Couvillion
R & L HANDYMAN: Gets Final OK to Use Cash Collateral
RAYANI HOLDINGS: Seeks to Tap EXP Commercial as Real Estate Broker
RENOVARO INC: Changes Corporate Name to Lunai Bioworks Inc.
RING CONTAINER: S&P Rates Proposed $1BB First-Lien Term Loan B 'B'
S & O INVESTMENTS: Seeks to Hire Coldwell Banker as Realtor
S&R EQUIPMENT: Unsecured Creditors to Split $50K in Plan
S&S FOODS: Hires Silver Financial Administration as Accountant
S.K. MANAGEMENT: Unsecureds Will Get 1.36% Dividend over 60 Months
SAFE & GREEN: Shareholders OK Reverse Stock Split
SAMMY G'S DISTRICT: Seeks to Hire Baker & Associates as Attorney
SANTA FE: Seeks to Hire Mullin Hoard & Brown as Bankruptcy Counsel
SANTA FE: Seeks to Tap Ag Management Group as Cash Flow Consultant
SAY IT VISUALLY: Hires Neeleman Law Group as Bankruptcy Counsel
SERENITY TENDER: Gets OK to Hire Davis Miles as Bankruptcy Counsel
SERENITY TENDER: Gets OK to Use Cash Collateral Until Oct. 31
SHARPLINK GAMING: Buys 56,533 ETH; $1.5B Stock Buyback Plan OK'd
SHERLAND & FARRINGTON: Seeks Cash Collateral Access Until Oct. 3
SILVERROCK DEVELOPMENT: Plan Exclusivity Period Extended to Dec. 1
SLM SERVICES: Hires Jeffrey Hellman LLC as Bankruptcy Counsel
SOLUTION ENGINEERING: Seeks to Tap Robert M. Stahl as Counsel
SPECIALTY CARTRIDGE: Gets Extension to Access Cash Collateral
SPIRIT AIRLINES: Gets Court OK to Keep Business Running in Ch. 11
STOLI GROUP: Court Extends Cash Collateral Access to Sept. 13
SUPPLY LINE: Enters Receivership with Over $23MM of Unpaid Loan
TALKING ROCK: Taps Integra Realty Resources as Valuation Expert
TELLICO RENTALS: Court Extends Cash Collateral Access to Sept. 30
TENNESSEE CREDIT: Hires Geno and Steiskal as Bankruptcy Counsel
TERRA DOLCI: Claims to be Paid from Disposable Income
THOMPSON'S PHARMACY: Gets OK to Use Cash Collateral Until Sept. 22
TIBERTI COMPANY: Jeanette McPherson Named Subchapter V Trustee
TILSON TECHNOLOGY: Offloads Construction Business in $22MM Deal
TOPS HOLDING: Trustee, Morgan Stanley & HSBC Agree to Settle
TWS SERVICE: Voluntary Chapter 11 Case Summary
VENUS CONCEPT: Gets Additional $2M in 11th Madryn Bridge Drawdown
VICTORIA'S KITCHEN: Seeks to Tap Sadek Law Offices LLC as Attorney
VILLAGES HEALTH: Bidding Process Ends Sept. 2, Auction on Sept. 7
VILLAGES HEALTH: U.S. Trustee Appoints Creditors' Committee
VIRTUS INVESTMENT: Moody's Affirms 'Ba1' CFR, Outlook Stable
VROOM INC: Kaelin Daye Case to Remain in Federal Court
VSM PROPERTIES: Hearing to Use Cash Collateral Set for Sept. 11
WALS TRANSPORT: Unsecureds Will Get 3% of Claims over 5 Years
WANDERLY LLC: Updates Unsecured Claims Pay Details
WELLMADE FLOOR: Hires Greenberg Traurig as Bankruptcy Counsel
WELLMADE FLOOR: Taps David M. Baker of Aurora Management as CRO
WELLMADE FLOOR: Taps Hilco Corporate Finance as Investment Banker
WELLPATH HOLDINGS: Court Dismisses Mosqueda v. Hash, et al. Case
WELLPATH HOLDINGS: Court Dismisses Webster v. Nurse Kelly Case
WOLFSPEED INC: Court Confirms Restructuring Plan to Cut Debt
WOODCREST CONDOMINIUMS IX: Taps Samson Companies as Estate Broker
WOODCREST CONDOMINIUMS V: Hires Morris Palerm LLC as Attorney
WOODCREST CONDOMINIUMS X: Hires Morris Palerm LLC as Attorney
ZEN JV: Unsecureds to Recover Up to 9.7% of Claims in Plan
*********
100 PERCENT CHIROPRACTIC: Taps Rountree Leitman Klein as Counsel
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100 Percent Chiropractic Foster, LLC seeks approval from the U.S.
Bankruptcy Court for the Northern District of Georgia to employ
Rountree, Leitman, Klein & Geer, LLC as counsel.
The firm's services include:
(a) advise the Debtor with respect to its powers and duties in
the management of its property;
(b) prepare on behalf of the Debtor necessary legal papers;
(c) assist in examination of the claims of creditors;
(d) assist with 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 that may
be necessary herein.
The firm's attorneys and paralegals will be paid at these hourly
rates:
William Rountree, Attorney $595
Will Geer, Attorney $595
Michael Bargar, Attorney $535
David Klein, Attorney $495
Hal Leitman, Attorney $425
William Matthews, Attorney $425
Ceci Christy, Attorney $425
Elizabeth Childers, Attorney $395
Caitlyn Powers, Attorney $375
Shawn Eisenberg, Attorney $300
Elizabeth Miller, Paralegal $290
Dorothy Sideris, Paralegal $200
Megan Winokur, Paralegal $175
Catherine Smith, Paralegal $150
Law Clerk $175
The firm received a pre-petition retainer of $35,000 from the
Debtor.
Mr. Geer 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:
Will B. Geer, Esq.
Rountree Leitman Klein & Geer, LLC
2987 Clairmont Road Ste 350
Atlanta, GA 30329
Telephone: (404) 584-1238
Email: wgeer@rlkglaw.com
About 100 Percent Chiropractic Foster
100 Percent Chiropractic Foster, LLC, operates a wellness clinic
providing chiropractic care, massage therapy, and nutritional
supplements. It offers services such as corrective chiropractic
treatment, family wellness programs, personal injury care, prenatal
and pediatric care, and therapeutic massage. It is part of the 100
Percent Chiropractic franchise network, which operates across the
U.S.
100 Percent filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-58291) on July 24,
2025. In the petition signed by Jamie Foster, manager, the Debtor
disclosed up to $1 million in assets and up to $10 million in
liabilities.
Judge Stacey G. Jernigan oversees the case.
Will Geer, Esq., at Rountree, Leitman, Klein & Geer, LLC represents
the Debtor as counsel.
1600 WESTERN: Court Extends Cash Collateral Access to Sept. 26
--------------------------------------------------------------
1600 Western Venture, LLC received a one-month extension from the
U.S. Bankruptcy Court for the Northern District of Illinois to use
cash collateral to fund operations.
The court's fifth interim order authorized the Debtor to use cash
collateral from August 26 to September 26 in accordance with its
budget.
The Debtor projects total operational expenses of $132,253 for the
period from September 1 to 30.
As adequate protection, Wells Fargo Bank N.A., as trustee for a
commercial mortgage trust, and the U.S. Small Business
Administration will be granted replacement liens on the Debtor's
property whether acquired before or after the bankruptcy petition.
These replacement liens will have the validity, priority and extent
as the secured creditors' pre-bankruptcy liens.
In addition, the Debtor must pay $44,369 (principal and interest)
to Wells Fargo Bank as further protection.
The next hearing is scheduled for September 25.
Wells Fargo Bank claims a $9 million secured interest, which the
Debtor disputes, asserting that the underlying mortgage and related
documents are invalid due to alleged forgery and improper
execution.
The Debtor claims that the value of its real estate exceeds $19.4
million, which it believes provides sufficient protection to the
lender.
Wells Fargo Bank, as lender, is represented by:
Samantha Ruben, Esq.
Dentons US. LLP
233 S. Wacker Drive, Suite 5900
Chicago, IL 60606
312-876-8000
samantha.ruben@dentons.com
About 1600 Western Venture LLC
1600 Western Venture LLC sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-08821) on June
10, 2025. In the petition signed by Dorothy Flisk, managing member,
the Debtor disclosed up to $50 million in assets and up to $10
million in liabilities.
Judge Jacqueline P. Cox oversees the case.
Paul M. Bach, Esq., and Penelope Bach, Esq., at Bach Law Offices,
Inc. represent the Debtor as legal counsel.
1713 N CAMERON: Seeks to Tap Tyler Bartl & Ramsdell as Counsel
--------------------------------------------------------------
1713 N Cameron St LLC seeks approval from the U.S. Bankruptcy Court
for the Eastern District of Virginia to employ Tyler, Bartl &
Ramsdell, PLC as counsel.
The firm will render these services:
(a) serve as general bankruptcy counsel;
(b) assist with required schedules and related forms;
(c) represent the Debtor at creditors' meetings;
(d) advise the Debtor of its duties and responsibilities under
the Bankruptcy Code;
(e) assist in preparing monthly financial forms;
(f) analyze cash flow and financial matters;
(g) assist and advise the Debtor in connection with executory
contracts;
(h) draft documents to reflect agreements with creditors;
(i) resolve motions for relief from stay and adequate
protection;
(j) negotiate for obtaining financing and use of cash
collateral, as necessary;
(k) determine whether reorganization, dismissal, or conversion
is in the best interests of the Debtor and its creditors;
(l) work with creditors' committee and other counsel, if any;
(m) work on any disclosure statement and plan of
reorganization; and
(n) handle other matters that arise in the normal course of
administration of this bankruptcy estate.
The firm's attorney will be paid at an hourly rate of $490 plus
out-of-pocket expenses.
The firm received a total retainer of $21,673 from the Debtor.
Steven Ramsdell, Esq., an attorney at Tyler, Bartl & Ramsdell,
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 B. Ramsdell, Esq.
Tyler, Bartl & Ramsdell, P.L.C.
300 N. Washington St., Suite 310
Alexandria, VA 22314
Telephone: (703) 549-5003
About 1713 N Cameron St LLC
1713 N Cameron St LLC is a single-asset real estate entity as
defined in 11 U.S.C. Section 101(51B).
1713 N Cameron St LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Va. Case No. 25-11697) on August 19,
2025. In its petition, the Debtor reports estimated assets and
liabilities between $1 million and $10 million each.
The Debtor is represented by Steven B. Ramsdell, Esq. at Tyler,
Bartl & Ramsdell, PLC.
24 HOUR FITNESS: Bid to Amend Complaint in Allied Case Granted
--------------------------------------------------------------
Judge Gregory B. Williams of the United States District Court for
the District of Delaware granted, in part, and denied, in part, 24
Hour Fitness Worldwide, Inc.'s motion to amend the complaint in the
case captioned as 24 HOUR FITNESS WORLDWIDE, INC., Plaintiff, v.
ALLIED WORLD NATIONAL ASSURANCE COMPANY, Defendant, Case No.
24-cv-01201-GBW (D. Del.).
This dispute arises in the Chapter 11 cases of 24 Hour Fitness
Worldwide, Inc. and certain of its affiliates, and more
specifically, from an adversary proceeding initiated by Plaintiff's
complaint against various insurers. Plaintiff filed the Complaint
in December 2020 against various insurers seeking declaratory
relief regarding insurance coverage for business interruption
losses sustained by Plaintiff during the COVID-19 epidemic.
Following this Court's withdrawal of the reference of the adversary
proceeding for jury trial, and the setting of a trial date,
Plaintiff filed a motion to amend the Complaint to add certain
factual allegations and assert two new causes of action.
The New Causes of Action are:
(1) breach of contract, seeking monetary damages with the exact
amount to be shown at trial; and
(2) breach of the implied covenant of good faith and fair
dealing, which asserts that Defendant acted with the requisite
intent to injure within the meaning of California Civil Code
section 3294, and which seeks damages, including without
limitation, incidental and consequential damages flowing from
Defendant's bad faith denials, attorneys' fees incurred by
Plaintiff pursuing coverage in light of Defendant's wrongful denial
of Plaintiffs claim, pre-judgment interest, punitive damages, and
such other relief as the Court deems appropriate, including
punitive damages in an amount sufficient to punish and deter
similar conduct, which is to be determined during Phase II of the
trial.
The parties previously agreed, and the Bankruptcy Court ordered,
that the trial would proceed in two phases:
Phase I ("limited to the issue of liability and insurance
coverage"); and
Phase II ("to determine the amount of Plaintiff's monetary
losses, if any such determination shall then be appropriate").
Plaintiff's overall contention is that the New Causes of Action are
reserved for Phase II and will not affect the Phase I trial.
Regarding timeliness, Plaintiff argues that the Motion to Amend
cannot be untimely as it is permitted under the Current Scheduling
Order. It further asserts that the amendments reflect the case's
posture, incorporate facts from discovery, and align with trial
phasing. Plaintiff further contends that the proposed amendments
concern only Phase II and are moot unless it succeeds in Phase I.
Plaintiff's declaratory judgment claim -- the sole subject of Phase
I -- remains unchanged.
Defendant disagrees, noting that although discovery on Phase I is
complete and the case is ready for trial, Plaintiff seeks not only
to add numerous new substantive factual allegations to its
Complaint, but also to add two entirely new claims and theories of
liability.
Regarding prejudice, Plaintiff asserts that the amendments require
no additional Phase I discovery, and any issues relating to the new
claims will be handled in Phase II. Defendant contends, on the
other hand, that the proposed amendments are highly prejudicial.
The addition of new substantive allegations and two new claims will
prejudice Defendant], it asserts, as Plaintiff's proffered new
claims, including a bad faith claim, were never part of the case
and were not explored in discovery or litigated at any point over
the past nearly five years. The parties tailored all discovery to
the singular declaratory judgment claim, and Allied would be
severely prejudiced if the parties were to proceed to trial on
these new claims.
The New Factual Allegations set forth in the factual background of
the Complaint attempt to incorporate factual allegations drawn from
discovery relevant to the Phase I issue of liability and insurance
coverage, including, primarily statements from Defendants' own
expert(s). Defendant does not explain how such amendments are
untimely and/or prejudice Defendant.
Judge Williams holds, "The new claims and theories of liability
could have been brought earlier and will fundamentally reshape the
case. Based on prejudice to Defendant, Plaintiff's Motion to Amend
the Complaint is denied solely with respect to the New Causes of
Action. Plaintiff's Motion to Amend the Complaint is granted with
respect to the remaining proposed amendments."
A copy of the Court's Memorandum is available at
https://urlcurt.com/u?l=6VSi7A from PacerMonitor.com.
About 24 Hour Fitness
24 Hour Fitness Worldwide, Inc., owns and operates fitness centers
in the United States. As of March 31, 2017, the company operated
426 clubs serving approximately 3.6 million members across 13
states and 23 markets, predominantly in California, Texas and
Colorado. For the 12 months ended March 31, 2017, the company
generated total revenue of about $1.4 billion. In May 2014, 24 Hour
Fitness was acquired by affiliates of AEA Investors LP, Fitness
Capital Partners and Ontario Teachers' Pension Plan for a total
purchase price of approximately $1.8 billion.
24 Hour Fitness Worldwide and its affiliates sought Chapter 11
protection (Bankr. D. Del. Lead Case No. 20-11558) on June 15,
2020. 24 Hour Fitness was estimated to have $1 billion to $10
billion in assets and liabilities as of the bankruptcy filing. The
Hon. Karen B. Owens is the case judge.
The Debtors tapped Weil, Gotshal & Manges, LLP as lead bankruptcy
counsel, FTI Consulting, Inc. as financial advisor, Lazard Freres &
Co. LLC as investment banker. Pachulski Stang Ziehl & Jones, LLP,
is the Debtors' local counsel. Prime Clerk, LLC, is the claims
agent.
PJT Partners acted as financial adviser and O'Melveny & Myers LLP
acted as legal counsel to the ad hoc group of debt holders.
Richards Layton & Finger PA is the group's local counsel.
Morgan Stanley Senior Funding Inc., as lender administrative and
collateral agent, is represented by Andrew L. Magaziner of Young
Conaway Stargatt & Taylor LLP, and Richard A. Levy and James
Ktsanes of Latham & Watkins LLP.
The U.S. Trustee for Regions 3 and 9 appointed a committee to
represent unsecured creditors in the Debtors' Chapter 11 cases. The
committee is represented by Cooley, LLP.
* * *
24 Hour Fitness Worldwide in December 2020 won court approval of a
bankruptcy-exit plan that would slash $1.2 billion of debt by
handing the fitness chain over to a group of lenders. Unsecured
creditors owed $900,000,000 were slated to recover only 0.1% to
1.0% under the plan.
24 HOUR FITNESS: Singh Appeal on Claim Disallowance Order Tossed
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Judge Gregory B. Williams of the United States District Court for
the District of Delaware dismissed the appeal styled AMRITPAL
SINGH, Appellant, v. RS FIT NW, LLC, Appellee, Civ. No. 24-678
(GBW) (D. Del.) for lack of jurisdiction.
This matter arises out of the chapter 11 cases of RS Fit NW, LLC
and All Day Holdings LLC and certain affiliates. Pro se appellant
Amritpal Singh has appealed the Bankruptcy Court's April 23, 2024
Order, which disallowed Appellants' proofs of claim asserting
claims against the Debtors based on Appellants' purported loss in
the value of his gym membership.
Appellant filed the First Membership Claim on Oct. 2, 2020,
asserting a general unsecured claim in the amount of $35,000.00 on
account of Appellant's "Pre Paid" and "Life Time Membership with 24
Hour Fitness all clubs. Appellant filed the Second Membership Claim
on Dec. 3, 2020, after the General Bar Date. The Second Membership
Claim appears to assert:
(i) a priority non-tax claim in the amount of $99,000,
(ii) a secured claim in the amount of $99,000, and
(iii) an administrative claim under Section 503(b)(9) of the
Bankruptcy Code in the amount of $99,000.00, for an aggregate
amount of $297,000, on account of his Membership.
On Dec. 22, 2020, the Bankruptcy Court entered an order confirming
the Debtors' chapter 11 plan of reorganization. On Dec. 30, 2020,
all conditions precedent to consummation of the Plan were either
satisfied or waived in accordance with Article IX of the Plan, such
that the Plan became effective on Dec. 29, 2020. Thus, pursuant the
Plan, on the Effective Date, the Debtors assumed the lease and
obligations associated with the Tiffany Plaza Club and assumed all
membership agreements associated therewith, including Appellant's
Membership.
On Dec. 20, 2023, the Reorganized Company filed an objection to the
Singh Claims. On April 23, 2024, the Bankruptcy Court issued the
Disallowance Order, sustaining Reorganized Company's objection to
the Singh Claims.
The docket reflects that on June 27, 2024, the Bankruptcy Court
received a submission from Appellant titled "Motion to Appeal After
4/23/2024," which was docketed in this Court the next day on June
28, 2024. Although not entirely clear, this document appears to be
directed to this Court and appears to assert that (i) Appellant had
difficulty joining the April 23, 2024 hearing by zoom or telephone,
and (ii) Appellant has suffered head and spinal cord injuries
requiring medication and additional surgeries.
The District Court notes that while the Bankruptcy Court was
authorized to extend the time to appeal upon a showing of excusable
neglect, Appellant was required to make this request by filing a
motion within 21 days after the time for taking an appeal had
expired. According to Judge Williams, "The 14-day period to appeal
the April 23, 2024 Disallowance Order expired on May 7, 2024. Thus,
the additional 21-day period to request an extension of time to
appeal, and demonstrate excusable neglect, expired on May 28, 2024
-- approximately one month before the June 27 Submission was
received by the Bankruptcy Court. Therefore, even assuming the
Bankruptcy Court had considered the June 27 Submission as a motion
to extend the time to file a notice of appeal based on excusable
neglect pursuant to Bankruptcy Rule 8002(d)(1)(B), the Bankruptcy
Court would not have been able to grant relief regardless of
whether Appellant might have demonstrated excusable neglect."
While the District Court is sympathetic to Appellant's medical
condition, and the challenges of pursuing relief on a pro se basis,
the appeal's jurisdictional defect is non-waivable. Having failed
to file a timely notice of appeal and having failed to make a
showing of excusable neglect for the untimely filing within the
time frame set forth in Bankruptcy Rule 8002(d)(1)(B), the District
Court lacks jurisdiction to hear the appeal, and the appeal must be
dismissed.
A copy of the Court's Memorandum is available at
https://urlcurt.com/u?l=hFTNqb
About 24 Hour Fitness
24 Hour Fitness Worldwide, Inc., owns and operates fitness centers
in the United States. As of March 31, 2017, the company operated
426 clubs serving approximately 3.6 million members across 13
states and 23 markets, predominantly in California, Texas and
Colorado. For the 12 months ended March 31, 2017, the company
generated total revenue of about $1.4 billion. In May 2014, 24 Hour
Fitness was acquired by affiliates of AEA Investors LP, Fitness
Capital Partners and Ontario Teachers' Pension Plan for a total
purchase price of approximately $1.8 billion.
24 Hour Fitness Worldwide and its affiliates sought Chapter 11
protection (Bankr. D. Del. Lead Case No. 20-11558) on June 15,
2020. 24 Hour Fitness was estimated to have $1 billion to $10
billion in assets and liabilities as of the bankruptcy filing. The
Hon. Karen B. Owens is the case judge.
The Debtors tapped Weil, Gotshal & Manges, LLP as lead bankruptcy
counsel, FTI Consulting, Inc. as financial advisor, Lazard Freres &
Co. LLC as investment banker. Pachulski Stang Ziehl & Jones, LLP,
is the Debtors' local counsel. Prime Clerk, LLC, is the claims
agent.
PJT Partners acted as financial adviser and O'Melveny & Myers LLP
acted as legal counsel to the ad hoc group of debt holders.
Richards Layton & Finger PA is the group's local counsel.
Morgan Stanley Senior Funding Inc., as lender administrative and
collateral agent, is represented by Andrew L. Magaziner of Young
Conaway Stargatt & Taylor LLP, and Richard A. Levy and James
Ktsanes of Latham & Watkins LLP.
The U.S. Trustee for Regions 3 and 9 appointed a committee to
represent unsecured creditors in the Debtors' Chapter 11 cases. The
committee is represented by Cooley, LLP.
* * *
24 Hour Fitness Worldwide in December 2020 won court approval of a
bankruptcy-exit plan that would slash $1.2 billion of debt by
handing the fitness chain over to a group of lenders. Unsecured
creditors owed $900,000,000 were slated to recover only 0.1% to
1.0% under the plan.
2U INC: Court Tosses Beaumont v. Paucek, et al. Securities Suit
---------------------------------------------------------------
Judge Adam B. Abelson of the United States District Court for the
District of Maryland will grant the motion filed by Christopher
Paucek, Paul Lalljie, and Matt Norden to dismiss the amended
complaint in the case captioned as MICHAEL BEAUMONT, individually
and on behalf of all others similarly situated, Plaintiff, v.
CHRISTOPHER PAUCEK, et al., Defendants, Case No. 24-cv-01723-ABA
(D. Md.) for failure to state a claim. The case is dismissed
without prejudice.
Plaintiff Peter Gysbers has brought a securities class action
against three officers of 2U, Inc., an online education company
that works with colleges and universities to deliver content to
students seeking online degrees. 2U filed for bankruptcy in July
2024. Plaintiff has sued on behalf of a putative class of investors
who acquired 2U stock between Feb. 9, 2022 and Feb. 14, 2024,
alleging that Defendants Christopher Paucek, Paul Lalljie, and Matt
Norden made materially false and/or misleading statements to
shareholders and investors about 2U's business.
Paucek was 2U's co-founder and CEO from 2012 until Nov. 16, 2023.
Lalljie was 2U's CFO from Oct. 16, 2019 to Nov. 16, 2023, at which
point he replaced Paucek as CEO. Norden is 2U's Chief Legal
Officer, and has also served as CFO since replacing Lalljie when he
became CEO.
On Nov. 16, 2021, 2U acquired edX, a nonprofit online course
provider that is considered one of the world's most comprehensive
free-to-degree online learning platforms, for $800 million. 2U, in
making this acquisition, purportedly sought to leverage an
industry-leading platform, to offer degrees, boot camps,
professional certificates, and free courses, all in one place and
easily accessible to millions of learners around the world. By
consolidating its offerings onto a single platform, 2U hoped to
reach a global audience and lower advertising costs.
Plaintiff alleges that, from early on after acquiring edX, 2U
failed to invest the necessary resources to implement its platform
strategy and edX had a challenging interface and generated poor
prospects who had no intention of paying for any services.
Throughout the Class Period, Partner Institutions expressed
concerns with 2U about the quality of its programs, enrollment
numbers, and marketing efforts.
In particular, Partner Institutions expressed dissatisfaction with
2U's inability to increase enrollments as much as promised, and
they were also concerned about 2U's decision to decrease its budget
for marketing campaigns.
Plaintiff alleges that, throughout the Class Period, Defendants
made materially false and misleading statements to investors that
conflict with what was known to be true by Defendants.
Plaintiff alleges, generally speaking, that these statements were
false and misleading when made for several reasons:
1. Plaintiff alleges that beginning in 2022 and throughout the
Class Period, Defendants saw degree enrollments drop as 2U embraced
edX and its new marketing framework.
2. The anticipated savings from reducing marketing costs by
using edX never materialized.
3. The mismatch between 2U's high-cost Degree Program and
edX's largely international user base hindered success.
4. The flawed design of the edX platform made it hard for
prospective users to find program offerings and for Partner
Institutions to effectively market their courses in Degree Program
and Alternative Credential segments, including bootcamps.
5. 2U's traditional marketing strategy was built around
higher-priced programs involving of bundled services and this
approach was unable to benefit the majority of edX's lower-priced
or free course offerings, an approach that was embodied by the free
to degree philosophy.
6. After acquiring edX, 2U decided to rely on the free to
degree model to attract new students and reduce its marketing
expenses but the leads this strategy generated did not bring new
paying customers, which led to a decline in enrollments and
revenue.
7. While the acquisition of edX expanded 2U's course
offerings, many valuable longstanding contracts with Partner
Institutions began to end through portfolio management activities,
or negotiated early terminations.
Plaintiff asserts two causes of action against Defendants:
(1) violations of Sec. 10(b) of the Securities Exchange Act of
1934 and Rule 10b-5, and
(2) violations of Sec. 20(a) of the Exchange Act.
Defendants argue the Complaint fails to state a claim upon which
relief can be granted under the applicable federal securities laws
and their respective pleading standards. The Court agrees.
According to the Court, Plaintiff has failed to state claims under
Section 10(b) or Rule 10b-5 because Plaintiff has failed to plead
any actionable misstatements or omissions made by Defendants or 2U.
And assuming Paucek, Lalljie, or Norden had sufficient control over
2U such that they could be held liable under Section 20(a) for any
of the alleged securities fraud violations by 2U, because the Court
finds that Plaintiff has failed to plead such violations,
Defendants cannot be held liable, vicariously or otherwise.
A copy of the Court's Memorandum Opinion is available at
https://urlcurt.com/u?l=qljSgi
About 2U, Inc.
Headquartered in Lanham, Maryland, 2U is an online education
platform company. The Company's mission is to expand access to
high-quality education and unlock human potential. As a trusted
partner to top-ranked nonprofit universities and other leading
organizations, the Company delivers technology and services that
enable its clients to bring their educational offerings online at
scale.
2U Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code
(Bankr. S.D.N.Y. Case No. 24-11279) on July 25, 2024. In its
petition, the Debtor reports estimated assets and liabilities
between $1 billion and $10 billion each.
The Debtor is represented by George A. Davis, Esq., at Latham &
Watkins LLP.
315 MANHATTAN: Seeks to Hire A.Y. Strauss as Bankruptcy Counsel
---------------------------------------------------------------
315 Manhattan Properties LLC seeks approval from the U.S.
Bankruptcy Court for the Southern District of New York to hire A.Y.
Strauss LLC as counsel.
The firm's services include:
(a) providing the Debtor with advice and preparing all
necessary documents regarding debt restructuring, bankruptcy and
asset dispositions;
(b) taking all necessary actions to protect and preserve the
Debtor's estate during the pendency of this Chapter 11 Case;
(c) preparing on behalf of the Debtor, as
debtor-in-possession, all necessary motions, applications, answers,
orders, reports and papers in connection with the administration of
this Chapter 11 Case;
(d) counseling the Debtor with regard to its rights and
obligations as debtor-in-possession;
(e) appearing in Court to protect the interests of the Debtor;
and
(f) performing all other legal services for the Debtor which
may be necessary and proper in these proceedings and in furtherance
of the Debtor's operations.
The firm's hourly billing rates are:
Partners $500 - $650
Counsel $475
Associates $425 - $450
Paralegals $200
The firm received a retainer in the amount of $50,000.
A.Y. Strauss LLC 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:
Eric H. Horn, Esq.
David S. Salhanick, Esq.
Eva M. Thomas, Esq.
A.Y. STRAUSS LLC
290 West Mount Pleasant Avenue, Suite 3260
Livingston, NJ 07039
Telephone: (973) 287-5006
Facsimile: (973) 533-0217
About 315 Manhattan Properties LLC
315 Manhattan Properties LLC owns a single real estate asset
located at 315 West 121st Street in New York, NY. The Company
operates as a single-asset real estate entity, as defined in 11
U.S.C. Section 101(51B).
315 Manhattan Properties sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. S.D. N.Y. Case No.: 25-11531) on July
9, 2025. The petition was signed by Bradley Simmons as sole member,
the Debtor disclosed its estimated Assets of $1 million to $10
million and estimated Liabilities of $1 million to $10 million.
Honorable Judge Michael E Wiles presides over the case.
Eric H. Horn, Esq., at A.Y. STRAUSS LLC, represents the Debtor as
legal counsel.
315 MANHATTAN: Seeks to Hire Northgate as Real Estate Advisor
-------------------------------------------------------------
315 Manhattan Properties LLC seeks approval from the U.S.
Bankruptcy Court for the Southern District of New York to hire
Northgate Real Estate Group as real estate advisor.
The firm will assist the Debtor in marketing, sale, refinancing, or
other disposition of the Debtor's property located at 315 West
121st Street, New York, New York 10027.
Northgate will be paid a commission equal to 6 percent of the gross
purchase price of the property.
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
Greg Corbin, President at Northgate Real Estate Group, disclosed in
a court filing that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached at:
Greg Corbin, President
Northgate Real Estate Group
1633 Broadway 46th Floor
New York, NY 10019
Telephone: (212) 419-8101
Email: Greg@northgatereg.com
About 315 Manhattan Properties LLC
315 Manhattan Properties LLC owns a single real estate asset
located at 315 West 121st Street in New York, NY. The Company
operates as a single-asset real estate entity, as defined in 11
U.S.C. Section 101(51B).
315 Manhattan Properties sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. S.D. N.Y. Case No.: 25-11531) on July
9, 2025. The petition was signed by Bradley Simmons as sole member,
the Debtor disclosed its estimated Assets of $1 million to $10
million and estimated Liabilities of $1 million to $10 million.
Honorable Judge Michael E Wiles presides over the case.
Eric H. Horn, Esq., at A.Y. STRAUSS LLC, represents the Debtor as
legal counsel.
381 INVESTMENTS: Seeks Subchapter V Bankruptcy in Indiana
---------------------------------------------------------
On September 5, 2025, 381 Investments Inc. voluntarily filed for
Chapter 11 protection in the Northern District of Indiana
bankruptcy court. The petition lists liabilities in the range of $1
million to $10 million. Court filings indicate that the company has
between one and 49 creditors impacted by the bankruptcy
proceedings.
About??381 Investments Inc.
381 Investments Inc. is an Indiana-based company.
381 Investments Inc. sought relief under Subchapter V of Chapter 11
of the U.S. Bankruptcy Code (Bankr. N.D. Ind. Case No. 25- 21809)
on September 1, 2025. In its petition, the Debtor reports estimated
assets and liabilities between $1 million and $10 million each.
Honorable Bankruptcy Judge??James R Ahler handles the case.
500 BLOCK INVESTMENT: Gets OK to Hire Barski Law Firm as Counsel
----------------------------------------------------------------
500 Block Investment Group LLC received approval from the U.S.
Bankruptcy Court for the District of Arizona to employ the Barski
Law Firm PLC to handle its Chapter 11 case.
The firm will be paid at these hourly rates:
Attorneys $475
Paralegals $175
Chris Barski, Esq. disclosed in a court filing that his firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firm can be reached through:
Chris D. Barski, Esq.
Barski Law PLC
9332 N. 95th Way, #109
Scottsdale, AZ 85258
Telephone: (602) 441-4700
Email: cbarski@barskilaw.com
About 500 Block Investment Group
500 Block Investment Group LLC sought relief under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 25-07690) on
Aug. 18, 2025, listing up to $500,000 in both assets and
liabilities.
Chris D. Barski, Esq., at Barski Law PLC serves as the Debtor's
counsel.
875 CONLEY CV22: Seeks to Hire BFSNG Law Group as Legal Counsel
---------------------------------------------------------------
875 Conley CV22 LLC and its affiliates seek approval from the U.S.
Bankruptcy Court for the Eastern District of New York to employ
BFSNG Law Group LLP to handle its Chapter 11 case.
The firm's counsel and staff will be paid at these rates:
Robert L. Pryor, Partner $725
Gary C. Fischoff, Partner $685
Heath S. Berger, Partner $585
Mark E. Cohen, Of Counsel $550
Dawn Traina, Paralegal $210
Angelique Filardi, Paralegal $210
In addition, the firm will seek reimbursement for expenses
incurred.
The firm received a retainer of $127,500, plus filing fees of
$12,166 from Ania Management LLC on behalf of the Debtors.
Mr. Cohen disclosed in a court filing that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firm can be reached through:
Mark E. Cohen, Esq.
BFSNG Law Group, LLP
6851 Jericho Turnpike, Suite 250
Syosset, NY 11791
Telephone: (516) 747-1136
Email: mcohen@bfslawfirm.com
About 875 Conley CV22
875 Conley CV22 LLC is a single-asset real estate entity whose
principal property is located at 875 Conley Road SE, Atlanta, GA
30354, and comprises 56 residential units.
875 Conley CV22 LLC and its affiliates sought relief under Chapter
11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-72983)
on August 4, 2025. In its petition, 875 Conley CV22 disclosed
estimated assets up to $50,000 and estimated liabilities of
$7,350,000. The case is jointly administered in the Case No.
25-72983.
Honorable Bankruptcy Judge Louis A. Scarcella handles the case.
The Debtor is represented by Mark E. Cohen, Esq. at BFSNG Law
Group, LLP.
ACADEMY AT PENGUIN: Hires Kelleher & Sadowsky Associates as Broker
------------------------------------------------------------------
The Academy at Penguin Hall, Inc. seeks approval from the U.S.
Bankruptcy Court for the District of Massachusetts to employ
Kelleher & Sadowsky Associates, Inc. as broker.
The firm will render these services:
(a) develop marketing materials;
(b) expose the property for sale;
(c) develop and maintain database of diligence materials and
assist in due diligence requests of prospective buyers;;
(d) assist prospective buyers with permitting issues;
(e) cooperate with prospective buyers and their agents on
behalf of the Debtor;
(f) conduct private showings of the property;
(g) solicit offers for the purchase of the property; and
(h) assist the Debtor in addressing, permitting, and other
closing contingencies.
The firm will receive a commission of 3 percent of the gross
purchase price of the property.
James Umphrey, a partner at Kelleher & Sadowsky 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:
James Umphrey
Kelleher & Sadowsky Associates, Inc.
120 Front Street, Suite 210
Worcester, MA 01608
About The Academy at Penguin Hall
The Academy at Penguin Hall Inc. is a private, college-preparatory
day school for young women in grades 9 through 12. Located in
Wenham, Massachusetts, the school offers interdisciplinary academic
programs and emphasizes leadership, critical thinking, and the
arts.
The Academy at Penguin Hall sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D. Mass. Case No. 25-11191) on June
11, 2025. In its petition, the Debtor reported between $10 million
and $50 million in assets and liabilities.
The Debtor is represented by John T. Morrier, Esq., at Casner &
Edwards, LLP.
AGEMY FAMILY: Seeks to Hire David W. Steen as Bankruptcy Counsel
----------------------------------------------------------------
Agemy Family Corporation, doing business as Quality Plus Dry
Cleaners, seeks approval from the U.S. Bankruptcy Court for the
Middle District of Florida to employ David W. Steen, PA to handle
its Chapter 11 case.
The firm received a retainer of $3,735, which included the filing
fee of $1,738, from the Debtor.
David Steen, Esq. disclosed in a court filing that his firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firm can be reached through:
David W. Steen, Esq.
David W. Steen, P.A.
P.O. Box No. 270394
Tampa, FL 33688
Telephone: (813) 251-3000
Email: dwsteen@dsteenpa.com
About Agemy Family Corporation
Agemy Family Corporation operating as Quality Plus Dry Cleaners,
offers professional dry cleaning, laundry services, and clothing
alterations. They provide same-day service, along with convenient
pickup and delivery options.
Agemy Family Corporation sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-00814) on February 9,
2025. In its petition, the Debtor reports estimated assets and
liabilities between $1 million and $10 million.
Bankruptcy Judge Roberta A. Colton handles the case.
The Debtor tapped David W. Steen, PA as counsel.
AGEMY FAMILY: Unsecured Creditors to be Paid in Full in Plan
------------------------------------------------------------
Agemy Family Corporation d/b/a Quality Plus Dry Cleaners filed with
the U.S. Bankruptcy Court for the Middle District of Florida a
Disclosure Statement describing Plan of Reorganization dated August
29, 2025.
Allie Hassan Agemy is the President of the Debtor. Mr. Agemy
currently manages the overall operations of the Debtor. The
Corporation was founded in 1995 by Mr. Agemy's father and has been
operated by Mr. Agemy since his father passed.
During the Initial Chapter 11 case, the Debtor reached agreements
with utility company creditors and most landlords. Fewer store
locations required fewer employees and fewer deliveries reduced the
number of vehicles needed. This was part of the Debtor's efforts to
increase profits in a Pandemic economy.
Unfortunately, even when the Pandemic receded, the Covid economy
still resulted in a lot of businesses allowing employees to work
remotely. The effect of this phenomenon has been a drag on revenues
and profits. The slow pace of employees returning to the office to
work has continued to effect the Debtor's business, and resulted in
the Debtor operating at a deficit, and requiring the filing of the
case.
A slowdown and decline in retail revenues in the dry cleaning
stores in the summer of 2024 as well as the October 2024 hurricanes
causing substantial damage to the main building, motors, and the
operational apparatus in the mechanical room, caused a loss of
revenue exceeding $100,000.00 and causing the Debtor to be unable
the necessary repairs and to meet its ongoing obligations.
Class Ten consists of the claims of allowed general unsecured
creditors (including the unsecured portion of the priority claims)
estimated to total $693,531.56. Each creditor shall be paid their
claim in full, commencing upon the retirement of the Unclassified
claims (estimated to be approximately 46 months after the
confirmation of the Debtor's Plan of Reorganization). The Debtors
reserve their right to object to any unsecured claim.
Class Eleven consists of Interests of Equity Security Holders.
Current equity security holders will retain their current interest
in the Debtor.
The Plan will be funded from future income derived from the
operation of the Debtor's dry cleaning business. Also, the Debtor
has cut Saturday production at the main facility. Allie Hassan
Agemy will continue as President of the Debtor and continue to
manage the operations of the business.
A full-text copy of the Disclosure Statement dated August 29, 2025
is available at https://urlcurt.com/u?l=8RXUoq from
PacerMonitor.com at no charge.
About Agemy Family Corporation
Agemy Family Corporation operating as Quality Plus Dry Cleaners,
offers professional dry cleaning, laundry services, and clothing
alterations. They provide same-day service, along with convenient
pickup and delivery options.
Agemy Family Corporation sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-00814) on Feb. 9,
2025. In its petition, the Debtor reports estimated assets and
liabilities between $1 million and $10 million.
Bankruptcy Judge Roberta A. Colton handles the case.
The Debtor is represented by:
David W. Steen, Esq.
DAVID W. STEEN, P.A.
P.O. Box 270394
Tampa, FL 33688
Tel: 813-251-3000
E-mail: dwsteen@dsteenpa.com
ALIEN TECHNOLOGIES: Gets OK to Use Cash Collateral Until Sept. 30
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida,
Orlando Division, granted Alien Technologies Corporation another
extension to use cash collateral.
The Debtor's cash collateral is comprised of cash on hand and funds
to be received through continued payments from customers.
The second interim order signed by Judge Grace Robson authorized
the Debtor to use cash collateral through September 30 to pay the
amounts expressly authorized by the court, including payments to
the U.S. trustee for quarterly fees; the expenses set forth in the
budget, plus an amount not to exceed 10% for each line item; and
additional amounts expressly approved in writing by secured
creditors Truist Bank and the U.S. Small Business Administration.
The Debtor projects total operational expenses of $1,032,989.66 for
the period from August 1 to January 1, 2026.
As protection, Truist Bank and the SBA will be granted
post-petition replacement liens, with the same validity, priority
and extent as their pre-bankruptcy liens. The Debtor must maintain
all required insurance coverage as further protection.
A continued hearing is set for September 30.
About Alien Technologies Corporation
Alien Technologies Corporation designs and sells hardtop removal
tools and accessories for Jeep Wrangler and Ford Bronco vehicles
under the TopLift Pros brand.
Alien Technologies Corporation sought relief under Subchapter V of
Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No.
25-03827) on June 20, 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 Grace E. Robson handles the case.
The Debtor is represented by:
Jesus Lozano
Nardella & Nardella, PLLC
Tel: 407-966-2680
Email: jlozano@nardellalaw.com
ALVIN'S COURIER: Seeks to Hire Bush Law Firm LLC as Attorney
------------------------------------------------------------
Alvin's Courier Service, Inc. seeks approval from the U.S.
Bankruptcy Court for the Middle District of Alabama to hire The
Bush Law Firm, LLC as attorneys.
The firm will provide these services:
a. advise the Debtor-in-Possession as to the rights, powers
and duties of a Debtor-in-Possession, as enumerated within 11
U.S.C. Sec. 1101, et seq.;
b. prepare and file the documents necessary to advance this
case, including, but not limited to, answers, applications,
motions, proposed orders, responses, schedules, and other necessary
and required legal documents;
c. represent the Debtor-in-Possession at the hearings in this
matter;
d. prepare and file status reports and the plan;
e. defend challenges to the automatic stay set forth within 11
U.S.C. Sec. 362(a); and
f. provide such other legal services and/or preparing and/or
filing such other documents as may be necessary for
Debtor-in-Possession to carry out its duties and functions in this
case.
The firm will be paid at these rates:
Attorney $350 per hour
Paralegal $50 per hour
The firm received a retainer in the amount of $10,000.
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
Anthony B. Bush. Esq., a partner at Bush Law Firm, 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:
Anthony B. Bush. Esq.
The Bush Law Firm, LLC
Parliament Place Professional Center
3198 Parliament Circle 302
Montgomery, Alabama 36116
Telephone: (334) 263-7733
Facsimile: (334) 832-4390
Email: abush@bushlegalfirm.com
About Alvin's Courier Service Inc.
Alvin's Courier Service Inc. is a transportation company providing
courier and delivery services in the Montgomery, Alabama area.
Alvin's Courier Service Inc. sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. M.D. Ala. Case No. 25-31975) on August
21, 2025. In its petition, the Debtor reports estimated assets
between $100,000 and $500,000 and estimated liabilities between
$500,000 and $1 million.
Anthony B. Bush, Esq., at the Bush Law Firm, LLC, represents the
Debtor as legal counsel.
AMERICA'S GARDENING: Committee Hires Dundon as Financial Advisor
----------------------------------------------------------------
The official committee of unsecured creditors appointed in the
Chapter 11 cases of America's Gardening Resource, Inc. seeks
approval from the U.S. Bankruptcy Court for the District of
Delaware to employ Dundon Advisers LLC as financial advisor.
The firm's services include:
(a) assist in the analysis, review, and monitoring of the
restructuring process;
(b) assist in the sales process for the assets of the
Debtors;
(c) determine whether there are viable alternative paths for
the disposition of the Debtors' assets from those currently or in
the future proposed by any;
(d) assist the committee in identifying, valuing, and pursuing
estate causes of action;
(e) advise the committee in negotiations with the Debtors and
certain of their lenders;
(f) assist the committee in reviewing the Debtors' financial
reports;
(g) review and provide analysis of the present and any
subsequently proposed Debtor financing or use of cash collateral;
(h) assist the committee in evaluating and analyzing avoidance
actions;
(i) assist the committee in investigating whether there are
any unencumbered assets at any Debtor entity;
(j) attend meetings and assist in discussions with the
committee, the Debtors, the secured lenders, the U.S. Trustee and
other parties in interest and professionals;
(k) present at meetings of the committee, as well as meetings
with other key stakeholders and parties; and
(l) perform such other advisory services for the committee as
may be necessary or proper in these proceedings, subject to the
aforementioned scope.
The firm's professionals will be paid at these hourly rates:
Principal $1,090
Managing Director $960
Senior Advisor $960
Senior Director $850
Director $755
Associate Director $650
Senior Associate $495
Associate $350
In addition, the firm will seek reimbursement for expenses
incurred.
Joshua Nahas, a managing director at Dundon Advisers, 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:
Joshua Nahas
Dundon Advisers LLC
10 Bank Street, Suite 1100
White Plains, NY 10606
About America's Gardening Resources
America's Gardening Resources, Inc. and its affiliates sought
relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del.
Lead Case No. 25-11180) on June 20, 2025, listing up to $10 million
in assets and up to $50 million in liabilities. The case is jointly
administered in Case No. 25-11180.
Judge Brendan Linehan Shannon oversees the case.
The Debtor tapped Robert K. Malone, Esq., at Gibbons PC as counsel
and Dundon Advisers LLC as financial advisor.
AMERICA'S GARDENING: Committee Hires Gibbons as Bankruptcy Counsel
------------------------------------------------------------------
The official committee of unsecured creditors appointed in the
Chapter 11 cases of America's Gardening Resource, Inc. and its
affiliates seeks approval from the U.S. Bankruptcy Court for the
District of Delaware to employ Gibbons PC as legal counsel.
The firm's services include:
(a) attend the meetings of the committee;
(b) review financial and operational information furnished by
the Debtors to the committee;
(c) investigate and determine the value of unencumbered
assets;
(d) analyze and negotiate the budget and the terms of the
Debtors' use of cash collateral;
(e) assist in the efforts to sell assets or equity of the
Debtors in a manner that maximizes the value for creditors;
(f) review and diligence the proposed sale(s) of the Debtors'
assets;
(g) if applicable, review and analyze Chapter 11 plan issues
and pursue confirmation of a plan or plans as may be appropriate to
provide distributable value to the holders of general unsecured
claims;
(h) review and investigate the liens of any purported secured
parties;
(i) review and investigate prepetition transactions in which
the Debtors and/or their insiders were involved;
(j) confer with the Debtors' management, counsel and financial
advisors;
(k) review the Debtors' schedules and statements of financial
affairs;
(l) advise the committee as to the ramifications regarding all
of the Debtors' activities and motions before this court;
(m) file appropriate pleadings on behalf of the committee;
(n) review and analyze the Debtors' financial professionals'
work product and report to the committee on that analysis;
(o) provide the committee with legal advice in relation to
these Chapter 11 cases;
(p) prepare various applications and memoranda of law
submitted to the court for consideration; and
(q) perform such other legal services for the committee as may
be necessary or proper in this proceeding.
The firm's professionals will be paid at these hourly rates:
Robert Malone, Director $1,375
Brett Theisen, Director $850
Christopher Anton, Counsel $850
Katharina Earle, Director $825
Kyle McEvilly, Associate $525
Neal Mitchell, Paralegal $375
Edna Munera, Paralegal $350
In addition, the firm will seek reimbursement for expenses
incurred.
Mr. Malone 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 K. Malone, Esq.
Gibbons P.C.
One Gateway Center
Newark, NJ 07102
Telephone: (973) 596-4500
Email: rmalone@gibbonslaw.com
About America's Gardening Resource
America's Gardening Resource, Inc. and its affiliates sought relief
under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead
Case No. 25-11180) on June 20, 2025, listing up to $10 million in
assets and up to $50 million in liabilities. The case is jointly
administered in Case No. 25-11180.
Judge Brendan Linehan Shannon oversees the case.
The Debtor tapped Robert K. Malone, Esq., at Gibbons PC as counsel
and Dundon Advisers LLC as financial advisor.
ANGLIN CONSULTING: Seeks to Hire McNamee Hosea as Legal Counsel
---------------------------------------------------------------
Anglin Consulting Group, Inc. seeks approval from the U.S.
Bankruptcy Court for the District of Columbia to employ McNamee
Hosea, PA as counsel.
The firm will provide these services:
(a) advise the Debtor with respect to its powers and duties
and in the operation and management of the business;
(b) prepare any necessary legal papers, and appear on the
Debtor's behalf in proceedings instituted by or against it;
(c) assist the Debtor the confirmation of a plan;
(d) assist the Debtor with other legal matters related to the
Debtor's reorganization; and
(e) perform all of the legal services for the Debtor that may
be necessary or desirable herein.
The firm received a retainer of $50,000 by Amtis, Inc., an
affiliate of the Debtor.
Justin Fasano, Esq., an attorney at McNamee Hosea, 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:
Justin P. Fasano, Esq.
McNamee Hosea, PA
6404 Ivy Lane, Suite 820
Greenbelt, MD 20770
Telephone: (301) 441-2420
Email: jfasano@mhlawyers.com
About Anglin Consulting Group Inc.
Anglin Consulting Group Inc. is a professional services firm
specializing in management consulting, financial and healthcare
solutions, and operational support for public and private
organizations. The Company provides certified American Sign
Language (ASL) interpretation services, ensuring accessibility and
effective communication for clients who are deaf or hard of
hearing. Anglin serves a diverse client base including federal,
state, and local government agencies, commercial businesses, and
non-profits, leveraging its SBA 8(a), Economically Disadvantaged
Woman-Owned, Service-Disabled Veteran-Owned, and HUBZone
certifications to deliver comprehensive, inclusive solutions.
Anglin Consulting Group Inc. sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D.C. Case No. 25-00328) on August 11,
2025. In its petition, the Debtor reports estimated assets up to
$50,000 and estimated liabilities between $10 million and $50
million.
The Debtor is represented by Justin P. Fasano, Esq. at McNamee
Hosea, PA.
APOLLO CONSTRUCTION: Taps Bleakley Bavol Denman & Grace as Counsel
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Apollo Construction & Engineering Services, Inc. seeks approval
from the U.S. Bankruptcy Court for the Middle District of Florida
to employ Bleakley Bavol Denman & Grace as counsel.
The firm's services include:
(a) analyze the financial situation, and render advice and
assistance to the Debtor in determining legal options under Title
11, United States Code;
(b) advise the Debtor with regards to its powers and duties in
the continued operation of the business and management of the
property of the estate;
(c) prepare and file the petition, schedules of assets and
liabilities, statement of affairs, and other documents as required
by the court;
(d) represent the Debtor at the Section 341 Meeting of
Creditors;
(e) advise the Debtor with respect to its powers and duties in
the continued operation of its business and management of its
property, if appropriate;
(f) advise the Debtor with respect to its responsibilities in
complying with the United States Trustee's Operating Guidelines and
Reporting Requirements and with the rules of the court;
(g) prepare, on behalf of the Debtor, necessary legal papers
and appear on hearings thereon;
(h) protect the interest of the Debtor in all matters pending
before the court;
(i) represent the Debtor in negotiation with its creditors in
the preparation of the Chapter 11 Plan; and
(j) perform all other legal services for the Debtor which may
be necessary herein.
Samantha Dammer, Esq, the primary attorney in this representation,
will be billed at her hourly rate of $425 plus out-of-pocket
expenses.
The firm received a retainer of $26,738 including filing fee from
the Debtor.
Ms. Dammer 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:
Samantha L. Dammer, Esq.
Bleakley Bavol Denman & Grace
15316 N. Florida Avenue
Tampa, FL 33613
Telephone: (813) 221-3759
Facsimile: (813) 221-3198
Email: sdammer@bbdglaw.com
About Apollo Construction & Engineering
Apollo Construction & Engineering Services, Inc. provides
full-service general contracting and construction services across
Florida, specializing in commercial, industrial, and government
projects. Operating since 1987, the Company delivers direct project
accountability, seamless coordination, and union-certified
workforce solutions to support construction of commercial
properties, public infrastructure, healthcare facilities, schools,
and transportation hubs. It holds active state licenses in
mechanical engineering, plumbing and piping, concrete and
structural work, fire protection, and general contracting, offering
end-to-end solutions from planning to build-out.
Apollo Construction & Engineering Services filed a petition under
Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla.
Case No. 25-06058) on August 25, 2025, with $1,135,031 in assets
and $1,931,003 in liabilities. Ahmed Zahran, vice president of
Apollo, signed the petition.
Judge Catherine Peek McEwen presides over the case.
Samantha L. Dammer, Esq., at Bleakley Bavol Denman & Grace
represents the Debtor as counsel.
ARCHANGEL DISCIPLINES: Taps Berkeley Bridge Advisors as Consultant
------------------------------------------------------------------
Archangel Disciplines, LLC seeks approval from the U.S. Bankruptcy
Court for the Southern District of Florida to hire Ann Marie
Giuliano of Berkeley Bridge Advisors to provide grant writing
services.
The professional services to be rendered include grant writing with
a focus on government procurement to obtain new contracts and
increase the Debtor???s revenue.
Additionally, Ms. Giuliano will provide business consulting to the
Debtor in order to target the most advantageous, manageable, and
profitable procurement requests by local and state government
identified and awarded.
The firm will bill $700 for bid sourcing and $2,100 per bid or
grant pursuit.
As disclosed in the court filings, neither Ms. Giuliano or Berkeley
Bridge Advisors have any interest adverse to the Debtor.
The firm can be reached through:
Ann Marie Giuliano
Berkeley Bridge Advisors
175 Dean Rd
Spencerport, NY 14559
Phone: (704) 997-9553
Email: Info@berkeleybridgeadvisors.com
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.
ARIZONA STATE MASONRY: Seeks Chapter 11 Bankruptcy in Arizona
-------------------------------------------------------------
Phoenix-based Arizona State Masonry LLC has sought Chapter 11
protection in the U.S. Bankruptcy Court for the District of Arizona
bankruptcy court, according to a September 5, 2025 filing.
The masonry contractor listed $10 million to $50 million in debts.
Filings indicate there will be some recovery available for
unsecured creditors.
About??Arizona State Masonry LLC
Arizona State Masonry LLC is a Phoenix, Arizona-based masonry
contractor.
Arizona State Masonry LLC sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 25-08405) on
September 5, 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 Daniel P. Collins handles the case.
The Debtor is represented by Thomas H. Allen, Esq. at Allen, Jones
& Giles, PLC.
ARP HOSPITALITY: Seeks to Tap Bertram Siegel as Litigation Counsel
------------------------------------------------------------------
ARP Hospitality Group LLC seeks approval from the U.S. Bankruptcy
Court for the District of New Jersey to employ Bertram Siegel,
Esq., an attorney practicing in New Jersey, as special counsel.
The attorney will assist the Debtor in the litigation captioned ARP
Hospitality Group LLC, d/b/a Fairfield Inn & Suites Paramus, Case
No. 22-CA-339760, before the National Labor Relations Board.
Mr. Siegel will be paid at a flat fee of $11,000 payable $8,500
upon entry of order and $2,500 within 3 weeks thereafter.
He also requested a $25,000 retainer from the Debtor.
Mr. Siegel disclosed in a court filing that he is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.
The attorney can be reached at:
Bertram Siegel, Esq.
300 Route 4
Teaneck, NJ 07666
Telephone: (201) 837-2300
Email: siegelandsiegel@gmail.com
About ARP Hospitality Group
ARP Hospitality Group LLC, doing business as Fairfield by Marriott,
operates a midscale hotel offering lodging, breakfast, and business
services. The property is located in Paramus, New Jersey, and
serves both business and leisure travelers.
ARP Hospitality Group LLC sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-17941) on July 29,
2025. In its petition, the Debtor reports total assets of
$9,957,890 and total liabilities of $7,960,943.
The Debtor tapped Michael S. Kopelman, Esq., at Kopelman &
Kopelman, LLP as counsel; Bertram Siegel, Esq., as litigation
counsel; and Eday & Associates LLC as accountant.
ARTICON HOTEL: Robert Handler Named Subchapter V Trustee
--------------------------------------------------------
The U.S. Trustee for Region 11 appointed Robert Handler of
Commercial Recovery Associates, LLC as Subchapter V trustee for
Articon Hotel Services, LLC.
Mr. Handler will be paid an hourly fee of $450 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.
Mr. Handler declared that he is a disinterested person according to
Section 101(14) of the Bankruptcy Code.
The Subchapter V trustee can be reached at:
Robert P. Handler
Commercial Recovery Associates, LLC
205 West Wacker Drive, Suite 918
Chicago, IL 60606
Tel: (312) 845-5001 x221
Email: rhandler@com-rec.com
About Articon Hotel Services
Articon Hotel Services, LLC manufactures and supplies furniture,
fixtures and equipment as well as construction materials for the
hospitality industry in the United States. The company provides
casegoods, soft seating, millwork, lobby furniture, artwork,
mirrors and lighting, alongside shower surrounds, flooring, and
wall coverings, serving hotel projects through design, fabrication,
installation and compliance support. Articon works with major hotel
brands including Holiday Inn, Hilton, Embassy Suites, Courtyard and
Fairfield Inn & Suites.
Articon Hotel Services filed a petition under Chapter 11,
Subchapter V of the Bankruptcy Code (Bankr. N.D. Ill. Case No.
25-13601) on September 2, 2025, with $100,000 to $500,000 in assets
and $1 million to $10 million in liabilities. Peter Michael Cohen,
principal, signed the petition.
Scott R. Clar, Esq., at Crane, Simon, Clar & Goodman represents the
Debtor as legal counsel.
ASOCIACION HOSPITAL: Hires CPA Luis R. Carrasquillo as Consultant
-----------------------------------------------------------------
Asociacion Hospital El Maestro, Inc. seeks approval from the U.S.
Bankruptcy Court for the District of Puerto Rico to employ CPA Luis
R. Carrasquillo & CO, PSC as financial consultant.
The firm will provide these services:
(a) strategic counseling and advice;
(b) pro forma modeling preparation;
(c) financial/business assistance;
(d) prepare documentation as requested for and during the
Debtor's Chapter 11, specifically as it is related to and has an
effect on it, as well as recommendations and financial/business
assessments.
The firm received a $50,000 retainer from the Debtor.
Luis Carrasquillo, CPA disclosed in a court filing that his firm is
a "disinterested person" as the term is defined in Section 101(14)
of the Bankruptcy Code.
The firm can be reached through:
Luis R. Carrasquillo, CPA
CPA Luis R. Carrasquillo & CO, PSC
28th St., #TI-26
Turabo Gardens Ave.
Caguas, PR 00725
Telephone: (787) 746-4555
Facsimile: (787) 746-4564
About Asociacion Hospital El Maestro
Asociacion Hospital El Maestro, Inc. sought relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. D.P.R. Case No. 25-03780) on
Aug. 25, 2025, listing under up to $50 million in both assets and
liabilities.
Judge Enrique S. Lamoutte Inclan oversees the case.
The Debtor tapped Wigberto Lugo Mender, Esq., at Lugo Mender Group,
LLC as counsel and CPA Luis R. Carrasquillo & CO, PSC as financial
consultant.
ASOCIACION HOSPITAL: Hires Lugo Mender Group as Bankruptcy Counsel
------------------------------------------------------------------
Asociacion Hospital El Maestro, Inc. seeks approval from the U.S.
Bankruptcy Court for the District of Puerto Rico to employ Lugo
Mender Group, LLC as counsel.
The firm will render these services:
(a) advise the Debtor with respect to its duties, powers and
responsibilities in this case under the laws of the United States
and Puerto Rico in which conducts its operations, business, or is
involved in litigation;
(b) advise and assist the Debtor in retaining all required
professionals;
(c) advise the Debtor in connection with its reorganization
endeavors;
(d) assist the Debtor in developing reorganization strategies
to maximize value of assets and operations;
(e) assist the Debtor with respect to negotiations with
creditors for the purpose arranging a feasible Plan of
Reorganization;
(f) prepare on behalf of the Debtor the necessary legal papers
or documents as may be required in this case;
(g) appear before the Bankruptcy Court, or any other court in
which the Debtor to assets a claim or defense directly or
indirectly related to this bankruptcy case;
(h) collaborate with other professionals which may be retained
within the bankruptcy cases per Section 327 to prosecute the rights
of the Debtor and achieve the reorganization goals delineated; and
(i) perform such other legal services for the Debtor as may be
required in these proceedings or in connection with the operation
of the business as the case may require.
The firm will be paid at these hourly rates:
Wigberto Lugo Mender, Attorney $350
Senior Associate Attorneys $275
Junior Associate Attorneys $200
Legal and Financial Assistants $150
In addition, the firm will seek reimbursement for expenses
incurred.
The firm received a prepetition retainer of $35,232 and
post-petition retainer of $75,000 from the Debtor.
Mr. Mender 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:
Wigberto Lugo Mender, Esq.
Lugo Mender Group, LLC
100 Carr. 165 Suite 501
Guaynabo, PR 00968
Telephone: (787) 707-0404
Facsimile: (787) 707-0412
Email: wlugo@lugomender.com
About Asociacion Hospital El Maestro
Asociacion Hospital El Maestro, Inc. sought relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. D.P.R. Case No. 25-03780) on
Aug. 25, 2025, listing under up to $50 million in both assets and
liabilities.
Judge Enrique S. Lamoutte Inclan oversees the case.
The Debtor tapped Wigberto Lugo Mender, Esq., at Lugo Mender Group,
LLC as counsel and CPA Luis R. Carrasquillo & CO, PSC as financial
consultant.
ASSURE AFFORDABLE: Seeks to Hire Thomas A. Duke Company as Broker
-----------------------------------------------------------------
Assure Affordable Homes, Inc. seeks approval from the U.S.
Bankruptcy Court for the Eastern District of Michigan to employ
Thomas A. Duke Company as real estate broker.
The Debtor needs a broker to sell its property located at
18401-18511 Joy Rd., Detroit, Michigan.
The broker will receive a commission of 3 percent of the final sale
of the property, for "in-house" transactions and a 4 percent
commission on cooperative transactions.
Andrew Battersby, a member of Thomas A. Duke Company disclosed in a
court filing that the firm is a "disinterested person" as the term
is defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
Andrew Battersby
37000 Grand River, #360
Farmington Hills, MI 48335
Email: ABattersby@thomasduke.com
About Assure Affordable Homes
Assure Affordable Homes Inc. specializes in third-party real estate
management and provides professional property appraisal services.
Assure Affordable Homes Inc. sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. E.D. Mich. Case No. 25-47953) on
August 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 Mark A. Randon handles the case.
The Debtor is represented by Alexander J. Berry-Santoro, Esq., at
Maxwell Dunn PLC.
ASSURED ACQUISITIONS: Unsecured Creditors to Get Nothing in Plan
----------------------------------------------------------------
Assured Acquisitions LLC submitted a Plan of Reorganization for
Small Business dated August 27, 2025.
The Debtor is a one-member member-managed limited liability company
formed under the laws of the state of Nevada.
The Debtor is in the business of real estate development and, at
the time if the commencement of this reorganization, on May 29,
2025, had title to seven separate pieces of real estate, all
located in the growing Nye County, Nevada. The debtor continues,
throughout this case and to the present time, to have ownership of
all seven properties, all of which are over-encumbered by mortgages
whose notes are delinquent.
The Debtor, through capital infusions by its member-manager, John
Compagno, will fund this plan, as well as maintain and improve the
properties so that they may be sold or otherwise result in monies
that will completely satisfy all secured creditors.
The Plan Proponent, though John Compagno, will have enough monies
to fund the Plan payments. Mr. Compagno has extensive personal
property, acquired and accumulated over many years in his
construction and development enterprises, that he intends to
liquidate over time and, over time, contribute to the Debtor for
Plan distributions.
The final Plan payment is expected to be paid on or about November
1, 2027.
This Plan of Reorganization proposes to pay creditors of the Debtor
from rental income.
Non-priority general unsecured creditors holding allowed claims
will likely receive no distributions. This Plan also provides for
the payment of administrative and any priority claims, of which,
currently, no priority claims are evident or being asserted.
Class 3 consists of general unsecured claimants. Allowed claimants
shall receive no distributions as liquidation and cash flow
calculations provide no monies available. This Class is impaired.
Class 4 consists of Equity security holders of the Debtor. No
treatment other than the continued status quo.
The Debtor shall have contributions from the liquidation of assets
of its member-manager.
A full-text copy of the Plan of Reorganization dated August 27,
2025 is available at https://urlcurt.com/u?l=IyxGNv from
PacerMonitor.com at no charge.
Counsel to the Debtor:
David A. Riggi, Esq.
LAW OFFICE OF DAVID A. RIGGI
5550 Painted Mirage Rd. Suite 120
Las Vegas, NV 89149
Tel: (702) 463-7777
Fax: (888) 306-7157
E-mail: RiggiLaw@gmail.com
About Assured Acquisitions
Assured Acquisitions, LLC, is a one member member-managed limited
liability company formed under the laws of the state of Nevada.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Nev. Case No. 25-13042) on May 29, 2025,
listing between $500,001 and $1 million in assets and between
$100,001 and $500,000 in liabilities.
David A. Riggi, Esq., at Riggi Law Firm represents the Debtor as
bankruptcy counsel.
ATI INC: S&P Raises Issuer Credit Rating to 'BB', Outlook Stable
----------------------------------------------------------------
S&P Global Ratings raised its issuer credit rating on metals
manufacturer ATI Inc. to 'BB' from 'BB-'.
S&P said, "Concurrently, we raised our issue-level rating on the
company's senior unsecured notes to 'BB' from 'BB-' and on
subsidiary, Allegheny Ludlum Corp.'s unsecured debt to 'BB+' from
'BB'. The respective '3' and '2' recovery ratings remain
unchanged.
"The stable outlook reflects our expectations of a continuous
strengthening of ATI's business, which could consolidate the
current trajectory of robust earnings and cash flow generation and
stronger credit metrics."
ATI's leverage has strengthened below 3x over the past four
consecutive quarters through a combination of earnings growth from
robust demand in aerospace and defense end markets and lower debt
levels.
At the same time, the company continues to solidify its business
through renewed contracts with Airbus and Boeing, an improved
product and price mix and rationalization of its operational
footprint, which led to margin expansion and strong cash flows.
ATI's focus on high-value markets will continue to drive robust
earnings over the next 12-24 months. S&P expects S&P Global
Ratings-adjusted EBITDA of $800 million-$900 million in 2025 and
2026, which compares favorably with $762 million in 2024. The
company's revenues and S&P Global Ratings-adjusted EBITDA grew by
55% and 149%, respectively, in 2021-2024 as the company executed on
its strategy of focusing on high-value markets such as aerospace
and defense. The strategy included exiting the flat rolled product
segment, which was mainly comprised of stainless-steel products,
rationalization of its operational footprint to improve cost
efficiency, and continued investments in projects that enhanced its
manufacturing capacity for aerospace and defense products. As a
result, aerospace and defense accounted for 62% of revenues in
fiscal 2024 compared to 52% in 2019.
S&P expects the trend of revenue and EBITDA expansion will continue
over the next 12???24 months, supported by higher product pricing
due to robust demand, strong backlog of orders (about $4 billion as
of Dec 31, 2024), and new contracts with customers. For example,
ATI signed a new multiyear agreement with Airbus in May 2025 to
supply titanium plate, sheet, and billet as Airbus ramps up
production of narrow and widebody aircraft. The company also
extended its long-term titanium products agreement with The Boeing
Co. These multiyear agreements position ATI favorably to continue
executing profitably on its current strategy.
ATI could sustain leverage below 3x, supported by strong cash flow
generation and lower levels of debt. The company's free cash flow
turned positive in fiscal 2024 through a combination of robust
earnings and efficient working capital management that reduced its
inventory intensity. The company eliminated about $291 million of
convertible senior notes in the third quarter of fiscal 2024 by
converting them into equity. ATI could also utilize some of its
cash to repay $150 million of Allegheny Ludlum debentures upon
maturity in December 2025. The reduction in absolute debt levels
and increasing EBITDA generation could improve leverage toward or
below 2x over the next two fiscal years. As of the end of the
second quarter 2025, S&P Global Ratings-adjusted rolling 12-month
debt to EBITDA was about 2.5x.
S&P said, "We expect ATI will pursue a disciplined financial policy
that favors organic growth investments and shareholder returns.
Over the past two years, ATI's capital expenditure (capex)
increased by approximately 82%, mainly due to an increase in growth
capex. The company has invested in increasing its melt capacity and
titanium production facilities that positions the company as a
choice supplier of various titanium materials which are used in
next-gen aircraft frames and other components. The company expects
to maintain the high capex spend of about $200 million-$300 million
annually over the next two years as it pursues its targets of
exceeding $5 billion in sales revenue and $1 billion of EBITDA by
fiscal 2027. At the same time, we expect ATI will continue to
return excess cash flows to shareholders through share repurchases.
The company has repurchased shares worth $320 million in the first
half of 2025, with about $270 million remaining under the current
authorized share repurchase program. As a result, we expect
negative discretionary cash flows (DCF) in 2025, which has been the
case over the past four years due to share repurchases. While we
believe the trend of share repurchases will continue over the next
24 months, DCF could turn positive based on our expectation of
significant cash flow generation.
"The stable outlook reflects our expectations that ATI's continuous
investments in organic growth, asset modernization and strong
backlog of business could translate into a consolidation of the
current strong earnings and positive free cash flows. We expect
leverage of around 2x over at least the next 12 months."
S&P could lower the rating if debt to EBITDA trends toward 3x. This
could occur if:
-- The company is unable to achieve productivity levels required
to execute on its record sales backlog, resulting in a loss of
market share and deterioration in its aerospace competitive
position; or
-- The company adopts an aggressive financial policy that includes
debt-funded shareholder returns.
S&P said, "We could raise the rating if we believe ATI's
competitive position has strengthened through margin expansion,
improved free cash flow conversion and less earnings volatility. We
could also raise our rating if ATI sustains leverage below 2x."
This could arise if ATI is able to:
-- Continue executing on its robust aerospace backlog;
-- Achieve EBITDA and profitability growth; and
-- Reduce debt meaningfully.
AUTOLYCUS LLC: Seeks Chapter 11 Bankruptcy in Illinois
------------------------------------------------------
Autolycus LLC has filed for Chapter 11 bankruptcy protection in the
U.S. Bankruptcy Court for the Northern District of Illinois. Court
filings show the company lists liabilities between $10 million and
$50 million. According to the petition, there are expected to be
funds available for unsecured creditors.
About??Autolycus LLC
Autolycus LLC is a truck and trailer leasing company based in
Bolingbrook, Illinois.
Autolycus LLC sought relief under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. N.D. Ill. Case No. 25-13696) on September 4, 2025. In
its petition, the Debtor reports estimated assets between $1
million and $10 million and estimated liabilities between $10
million and $50 million.
The Debtor is represented by Saulius Modestas, Esq. at Modestas Law
Offices, P.C.
AVANT GARDNER: Unsecured Creditors Want Trustee Takeover
--------------------------------------------------------
James Nani of Bloomberg Law reports that the unsecured creditors of
Avant Gardner are moving to wrest control of the bankrupt New York
music venue and festival operator from its management, calling for
a trustee to be appointed over what they describe as years of
fraud, mismanagement, and conflicts tied to lender Axar Capital
Management LP.
Bloomberg, citing court papers filed Sunday, August 31, 2025, in
the US Bankruptcy Court for the District of Delaware, said the
committee alleged Avant Gardner misrepresented the Brooklyn Mirage
renovation, engaged in usurious financing arrangements, and failed
to pay key taxes. They claim Axar has gradually seized control by
placing its associates on the company's board and management,
including after the Mirage's operating permit was revoked in May.
According to Bloomberg Law, Avant Gardner filed Chapter 11 in
August 2025 after the Mirage's 2025 reopening was derailed by
construction cost overruns and permitting problems. The company has
marketed a $110 million credit bid from an Axar affiliate, which
incorporates $45.8 million in bankruptcy financing, as a stalking
horse offer.
Creditors say the sale timeline is compressed and structured to
ensure Axar acquires Avant Gardner at an undervaluation,
functioning as a "sub rosa" plan that skirts Chapter 11 safeguards.
They also cite a history of operational issues, including
overcrowding, unpaid vendors, and the chaotic 2023 Electric Zoo
festival where oversold tickets and incomplete staging forced the
cancellation of its first day.
The committee is represented by Morris James LLP and Orrick,
Herrington & Sutcliffe LLP. Avant Gardner is advised by Young
Conaway Stargatt & Taylor LLP, while Axar is represented by
McDermott Will & Schulte LLP.
About Avant Gardner
Avant Gardner is a prominent Brooklyn-based entertainment venue
operator and event promoter that is operating from its principal
location at 140 Stewart Ave in Brooklyn, New York. The company
manages entertainment venues and produces live events, with
operations in the performing arts and entertainment event promotion
sector.
Avant Gardner sought relief under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. D. Del. Case No. 25-11443) on August 4, 2025. In its
petition, the Debtor reports estimated assets between $50,000 and
$100,000 and estimated liabilities between $100,000 and $500,000.
The Debtor is represented by Sean Matthew Beach, Esq. at Young,
Conaway, Stargatt & Taylor.
BACK DRAUGHTS: Seeks to Tap Extra Hands Accounting as Accountant
----------------------------------------------------------------
Back Draughts, LLC seeks approval from the U.S. Bankruptcy Court
for the Middle District of Florida to employ Extra Hands
Accounting, Inc. as accountant.
The firm will render these services:
(a) prepare monthly operating reports and financial
statements;
(b) update the Debtor's books and records on a monthly basis;
(c) prepare and file necessary tax documents with appropriate
taxing authorities; and
(d) advise the Debtor regarding tax-related issues.
The firm will be paid at these following fees:
(a) prepare monthly operating reports and financial statements
for a flat fee of $350 per month;
(b) prepare and file sales tax returns and payroll tax returns
for a flat fee of $175 on a bi-weekly basis;
(c) prepare Form W 2s for issuance to the Debtor's employees
at a flat rate of $3.50 per form; and
(d) prepare and file Form 940 on behalf of the Debtor for a
flat fee of $50.
For all other tax-related services, including general consulting,
the firm seeks compensation at its customary hourly rate of $175
per hour.
James Rogers, a director at Extra Hands Accounting, 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:
James Rogers
Extra Hands Accounting, Inc.
118 E. Tarpon Ave.
Tarpon Springs, FL 34689
Telephone: (727) 935-6031
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.
The Debtor tapped Erik Johanson, Esq., at Erik Johanson, PLLC as
counsel and Extra Hands Accounting, Inc. as accountant.
BELLA INVESTMENT: Case Summary & Eight Unsecured Creditors
----------------------------------------------------------
Debtor: Bella Investment Properties, LLC
1824 E. Passyunk Avenue
Philadelphia, PA 19148
Business Description: Bella Investment Properties, LLC is
classified as a single-asset real estate
debtor under 11 U.S.C. Section 101(51B).
Chapter 11 Petition Date: September 8, 2025
Court: United States Bankruptcy Court
Eastern District of Pennsylvania
Case No.: 25-13573
Judge: Hon. Derek J Baker
Debtor's Counsel: David B. Smith, Esq.
SMITH KANE HOLMAN, LLC
112 Moores Road
Suite 300
Malvern, PA 19355
Tel: 610-407-7215
Fax: 610-407-7218
E-mail: dsmith@skhlaw.com
Estimated Assets: $100,000 to $500,000
Estimated Liabilities: $1 million to $10 million
The petition was signed by Linda Martorano as president.
A full-text copy of the petition, which includes a list of the
Debtor's eight unsecured creditors, is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/VNFPIRQ/Bella_Investment_Properties_LLC__paebke-25-13573__0001.0.pdf?mcid=tGE4TAMA
BENSON HILL: Seeks Court OK to Convert Chapter 11 to Chapter 7
--------------------------------------------------------------
investing.com reports that Benson Hill Inc. has filed a motion to
convert its Chapter 11 case to Chapter 7, signaling the end of its
restructuring efforts and the beginning of full liquidation.
The Delaware bankruptcy court will review the motion on September
23, 2025, with a potential effective date of September 30, the
report said.
According to investing.com, the company had been operating under
Chapter 11 since March but sold nearly all of its assets to
Confluence Genetics, LLC in May. With little left to operate,
Benson Hill now plans to transfer control of remaining assets to a
trustee, who will wind down the estate and pay creditors.
In a recent SEC filing, Benson Hill confirmed that its stockholders
should not expect any distribution from the process. Its shares,
suspended from Nasdaq in March and delisted in July, are considered
worthless. Interim CEO Daniel Cosgrove will step aside once a
trustee is appointed to oversee the liquidation, the report
states.
About Benson Hill
Benson Hill, Inc. is an ag-tech company focused on innovating soy
protein through advanced genetics. Using its CropOS technology
platform, Benson Hill creates food and feed that are more
nutritious, functional, and produced efficiently, offering
sustainability benefits to the food and feed sectors.
Benson Hill and its affiliates sought relief under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. D. Lead Del. Case No. 25-10539) on
March 20, 2025. The petitions were signed by Daniel Cosgrove as
interim chief executive officer. In their petitions, the Debtors
reported total assets of $137,542,000 and total debts of
$110,701,000.
Judge Thomas M. Horan handles the cases.
The Debtors tapped Faegre Drinker Biddle & Reath, LLP as bankruptcy
counsel; Piper Sandler as investment banker; Meru, LLC as financial
advisor; and Stretto, Inc. as claims and noticing agent.
BIG LEVEL: Seeks to Tap Geno and Steiskal as Bankruptcy Counsel
---------------------------------------------------------------
Big Level Trucking, Inc. seeks approval from the U.S. Bankruptcy
Court for the Southern District of Mississippi to employ the Law
Offices of Geno and Steiskal PLLC as counsel.
The firm will provide these services:
(a) advise and consult with the Debtor regarding questions
arising from certain contract negotiations which will occur during
the operation of business;
(b) evaluate and attack claims of various creditors who may
assert security interests in the assets and who may seek to disturb
the continued operation of the business;
(c) appear in, prosecute, or defend suits and proceedings, and
take all necessary and proper steps and other matters and things
involved in or connected with the affairs of the estate of the
Debtor;
(d) represent the Debtor in court hearings and assist in the
preparation of contracts, reports, accounts, petitions,
applications, orders and other papers and documents as may be
necessary in this proceeding;
(e) advise and consult with the Debtor in connection with any
reorganization plan which may be proposed in this proceeding and
any matters concerning it which arise out of or follow the
acceptance or consummation of such reorganization or its rejection;
and
(f) perform such other legal services on behalf of the Debtor
as they become necessary in this proceeding.
The firm will be paid at these hourly rates:
Craig Geno, Attorney $500
Christopher Steiskal Sr., Esq. $400
Paralegals $250
In addition, the fim will seek reimbursement for expenses
incurred.
The firm received a retainer of $30,000 which includes the filing
fee of $1,738 from the Debtor.
Mr. Geno 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:
Craig M. Geno, Esq.
Law Offices of Geno and Steiskal, PLLC
601 Renaissance Way, Suite A
Ridgeland, MS 39157
Telephone: (601) 427-0048
Facsimile: (601) 427-0050
Email: cgeno@cmgenolaw.com
About Big Level Trucking
Big Level Trucking, Inc. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Miss. Case No. 25-51204) on August 18,
2025, listing up to $50 million in both assets and liabilities.
Judge Katharine M. Samson oversees the case.
The Debtor tapped the Law Offices of Geno and Steiskal, PLLC as
counsel.
BOOKS INC: Asks Court Approval to Be Acquired by Barnes & Noble
---------------------------------------------------------------
Aidin Vaziri of San Francisco Chronicle reports that Books Inc.,
the Bay Area's oldest independent bookseller, is seeking bankruptcy
court approval to sell itself to Barnes & Noble for $3.25 million.
The deal would allow the 174-year-old chain to continue operating
under its long-standing name despite its financial troubles,
according to the report.
The San Leandro-based company, which filed for Chapter 11 in
January 2025, said the sale would safeguard its seven neighborhood
stores and two airport locations at San Francisco International
Airport. CEO Andy Perham called the agreement a way to preserve
Books Inc.'s legacy while gaining the resources to modernize
operations, according to San Francisco Chronicle.
Books Inc. cited rising rents, payroll expenses, and pandemic-era
consumer shifts as key factors behind its decline. Revenue fell
from $20.9 million in 2019 to $11.3 million in 2020, and the
company shuttered its Berkeley store earlier this year. The
proposed sale comes on the heels of Barnes & Noble's 2024 purchase
of Denver's Tattered Cover Book Store, the report states.
About Books Inc.
Books Inc. is the oldest independently owned bookstore in the
western U.S. and operates eleven brick-and-mortar stores in the Bay
Area. In addition to its physical locations, the Company runs an
online store, offering a mix of direct shipping and in-store pickup
for customers. The Company also fosters strong community
engagement, hosting hundreds of author events, book clubs, and
other activities each year.
Books Inc. sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Cal. Case No. 25-40087 on January 20,
2025, with $3,283,300 in assets and $5,161,574 in liabilities.
Andrew Perham, chief executive officer of Books Inc., signed the
petition.
Judge William J. Lafferty oversees the case.
The Debtor is represented by Stephen D. Finestone, Esq. at
Finestone Hayes, LLP.
BRIGGS BROTHERS: Court Stays Brifen Lawsuit Due to Bankruptcy
-------------------------------------------------------------
Judge Charles B. Goodwin of the United States District Court for
the Western District of Oklahoma stayed the case captioned as
BRIFEN USA, INC., Plaintiff, v. BRIGGS BROTHERS ENTERPRISES
CORPORATION, Defendant, Case No. 22-cv-00200-G (W.D. Okla.), after
Plaintiff's Suggestion of Bankruptcy, filed Aug. 27, 2025, advising
the Court that Briggs Brothers has filed for Chapter 11
bankruptcy.
Brifen initiated this action in March 2022, bringing claims against
two defendants. On March 21, 2025, the Clerk entered default
against Briggs Brothers pursuant to Federal Rule of Civil Procedure
55(a).
Pursuant to 11 U.S.C. Sec. 362, the automatic-stay provisions of
the Bankruptcy Code extend to the bankruptcy "debtor." Accordingly,
the pending Motion for Damages and any other continuation or
enforcement of Plaintiff's claims against Briggs Brothers are
stayed.
A copy of the Court's Order is available at
https://urlcurt.com/u?l=lmOK7T from PacerMonitor.com.
About Briggs Brothers Enterprises Corporation
Briggs Brothers Enterprises Corporation is a licensed general
contractor based in New Orleans, Louisiana. The Company provides
construction services for highway, street, bridge, and municipal
public works projects, and has performed work under federal
contracts across multiple states. It is certified as an SBA 8(a)
and HUBZone small business.
Briggs Brothers Enterprises Corporation sought relief under Chapter
11 of the U.S. Bankruptcy Code (Bankr. E.D. La. Case No.: 25-11674)
on August 4, 2025. In its petition, the Debtor reports estimated
assets up to $50,000 and estimated liabilities between $1 million
and $10 million.
Honorable Bankruptcy Judge Meredith S. Grabill handles the case.
The Debtor is represented by Derek Russ, Esq.
BUSHWICK 1098: Seeks Chapter 11 Bankruptcy in New York
------------------------------------------------------
On September 4, 2025, Bushwick 1098 Corp., a New York-based
company, voluntarily filed for Chapter 11 protection in the Eastern
District of New York.
The bankruptcy petition lists liabilities ranging from $100,001 to
$1 million. The filing shows that Bushwick 1098 Corp. has between
one and 49 creditors affected by the proceedings.
About??Bushwick 1098 Corp.
Bushwick 1098 Corp. is a single asset real estate company.
Bushwick 1098 Corp. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-44239) on September 4,
2025. In its petition, the Debtor reports estimated liabilities
between $100,001 and $1 million.
Honorable Bankruptcy Judge??Elizabeth S. Stong handles the case.
C & S MEMORIAL: Seeks to Tap H. Kent and Caleb Aguillard as Counsel
-------------------------------------------------------------------
C & S Memorial, Inc. seeks approval from the U.S. Bankruptcy Court
for the Western District of Louisiana to employ H. Kent Aguillard
Esq., and Caleb Aguillard, Esq., attorneys practicing in Eunice,
Louisiana.
The attorneys will provide these services:
(a) advise and represent concerning the Debtor's property and
the performance of its duties;
(b) negotiate with creditors;
(c) prepare a plan of reorganization; and
(d) generally advise the Debtor about operating within the
parameters of Chapter 11.
The attorneys received an initial retainer of $3,328 including the
filing fee of $1,738 from the Detbtor.
The attorneys disclosed in a court filing that they are
"disinterested persons" as the term is defined in Section 101(14)
of the Bankruptcy Code.
The attorneys can be reached at:
H. Kent Agullard, Esq.
Caleb K. Aguillard, Esq.
141 S. 6th Street
Eunice, LO 70535
Telephone: (337) 457-9331
Facsimile: (337) 457-2917
Email: kent@aguillardlaw.com
Email: caleb@aguillardlaw.com
About C & S Memorial
C & S Memorial, Inc. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. W.D. La. Case No. 25-50731) on Aug. 21,
2025, listing under $1 million in both assets and liabilities.
Judge John W. Kolwe oversees the case.
H. Kent Agullard, Esq., and Caleb K. Aguillard, Esq., serve as the
Debtor's counsel.
CAPITAL WHOLESALE: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: Capital Wholesale Group, LLC
3600 W. Marshall Ave
Longview TX 75604
Business Description: Capital Wholesale Group, LLC is a used car
dealership based in Longview, Texas, selling
pre-owned vehicles and providing related
automotive services.
Chapter 11 Petition Date: September 7, 2025
Court: United States Bankruptcy Court
Northern District of Texas
Case No.: 25-43395
Judge: Hon. Mark X. Mullin
Debtor's Counsel: Richard Grant, Esq.
CM LAW PLLC
13101 Preston Road, Suite 110-1510
Dallas TX 75240
Tel: 214-210-2929
E-mail: rgrant@cm.law
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Michael Pearson as managing member.
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/DWGUL2A/Capital_Wholesale_Group_LLC__txnbke-25-43395__0001.0.pdf?mcid=tGE4TAMA
CAR TOYS: U.S. Trustee Appoints Creditors' Committee
----------------------------------------------------
The U.S. Trustee for Region 18 appointed an official committee to
represent unsecured creditors in the Chapter 11 case of Car Toys,
Inc.
The committee members are:
1. Lynn Brown
Automotive Data Solutions Inc.
8400, rue Bougainville
Montreal, QC H4P 2G1
CANADA
Phone: 514-807-2888
lynn.brown@adsdata.ca
2. Timi Jackson
JVCKENWOOD USA Corporation
4001 Worsham Avenue
Long Beach, CA 90808
Phone: 972-819-0700
tjackson@us.jvckenwood.com
Official creditors' committees serve as fiduciaries to the general
population of creditors they represent. They may investigate the
debtor's business and financial affairs. Committees have the right
to employ legal counsel, accountants and financial advisors at a
debtor's expense.
About Car Toys Inc.
Car Toys, Inc. sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. W.D. Wash. Case No. 25-12288-TWD) on August
18, 2025. In the petition signed by Philip Kaestle, chief
restructuring officer, the Debtor disclosed up to $50 million in
both assets and liabilities.
Judge Timothy W. Dore oversees the case.
Steven M. Palmer, Esq., at Cairncross & Hempelmann, P.S.,
represents the Debtor as legal counsel.
Daniel Brettler, as senior secured lender and DIP lender, is
represented by:
Nathan T. Riordan, Esq.
Wenokur Riordan PLLC
600 Stewart Street
Seattle, WA 98101
Phone: (206) 903-0401
Fax: (206) 209-4141
nate@wrlawgroup.com
-- and --
Alan J. Wenokur, Esq.
Wenokur Riordan PLLC
Phone: (206) 682-6224
Fax: (206) 826-9009
alan@wrlawgroup.com
CAROLINA PROUD: Gets OK to Use Cash Collateral Until Oct. 16
------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of North
Carolina, Greenville Division granted Carolina Proud Investment
Group, LLC interim approval to use cash collateral until October
16.
The interim order authorized the Debtor to use rental income that
constitutes cash collateral of two secured creditors, GREM, LLC and
United Bank, to cover operating expenses during its Chapter 11
case.
The budget projects total operational expenses of $16,785.67 for
the period from Sept. 16 to Oct. 16.
As adequate protection for the Debtor's use of their cash
collateral, secured creditors will be granted a post-petition lien
on all cash, payments and receivables for collected rents and
future collected rents by the Debtor during the pendency of the
interim order. The post-petition liens will have the same validity,
extent and priority as the secured creditors' pre-bankruptcy
liens.
In addition, the Debtor was ordered to pay $1,500 to GREM by Oct. 3
and $700 to United Bank this month as further adequate protection.
Meanwhile, the Debtor was ordered to remit the sum of $500 to the
IOLTA trust account of C. Scott Kirk, Attorney at Law, for the
purpose of payment of the administrative expenses of the Subchapter
V trustee from funds received from rents of property not subject to
the liens of the secured creditors.
A final hearing is scheduled for October 14.
GREM, LLC, as secured creditor, is represented by:
John G. Rhyne, Esq.
P.O. Box 8327
Wilson, NC 27893
Telephone: (252) 234-9933
Telecopier: (252) 991-5567
johnrhyne@johnrhynelaw.com
United Bank, as secured creditor, is represented by:
James S. Livermon, III, Esq.
Womble Bond Dickinson (US) LLP
555 Fayetteville Street, Suite 1100
Raleigh, NC 27601
Telephone: (919) 755-2148
Facsimile: (919) 755-6048
charlie.livermon@wbd-us.com
About Carolina Proud Investment Group LLC
Carolina Proud Investment Group, LLC owns and manages a portfolio
of residential and commercial properties, including rental units
and vacant land, across multiple locations in North Carolina and
Ohio.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. N.C. Case No. 25-01063) on March 24,
2025. In the petition signed by Anna Hromyak, member-manager, the
Debtor disclosed $1,035,550 in assets and $797,689 in liabilities.
Judge Pamela W McAfee oversees the case.
C. Scott Kirk, Esq., represents the Debtor as legal counsel.
CBRM REALTY: Court Denies Bid to Appoint Equity Committee
---------------------------------------------------------
A U.S. bankruptcy judge overseeing the Chapter 11 cases of CBRM
Realty, Inc. and its affiliates denied the motion filed by a
shareholder to appoint a committee of equity security holders.
In his order, Judge Michael Kaplan of the U.S. Bankruptcy Court for
the District of New Jersey said there is "no basis, in law or
fact," for the appointment of an equity committee.
"The record demonstrates the extreme unlikelihood that equity will
receive any distribution in this case," Mr. Kaplan said.
The bankruptcy judge cited the companies' latest operating reports
which show negative equity, the liquidation analysis which reflects
no recovery to equity under any scenario, and the testimony of the
companies' financial advisor that no plausible scenario exists in
which equity holders would receive a distribution.
"In such circumstances, there is no substantial likelihood of
recovery for equity, and an equity committee would serve no
legitimate purpose but to impose unnecessary expense on the
estate," Mr. Kaplan said.
Mr. Kaplan also agrees with the U.S. Trustee that the filing of the
motion on the eve of plan confirmation and in the midst of ongoing
sale processes "weighs strongly against granting the
requested relief."
According to Mr. Kaplan, at this stage of the case, an equity
committee cannot fulfill its key role -- plan negotiation -- and
would only delay confirmation to the detriment of other
stakeholders.
Last month, Moshe Silber, the sole shareholder of CBRM, sought the
appointment of an equity committee, with him as the only member.
In his motion, Mr. Silber asserted that the equity of several CBRM
subsidiaries had "significant value" at the time he relinquished
control of his business to Elizabeth LaPuma, the independent
fiduciary appointed in the bankruptcy cases.
About CBRM Realty
CBRM Realty Inc. is a Somerset, New Jersey-based real estate
investment firm.
CBRM Realty and affiliates sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D.N.J. Lead Case No. 25-15343) on May
19, 2025. In its petition, the Debtors reported estimated assets
and liabilities (on a consolidated basis) between $100 million to
$500 million.
Honorable Bankruptcy Judge Michael B. Kaplan handles the cases.
The Debtors tapped White & Case LLP and Ken Rosen Advisors PC as
counsel, Islanddundon LLC as financial advisor, and Kurtzman Carson
Consultants, LLC, doing business as Verita Global, as claims,
noticing, and solicitation agent.
CBRM REALTY: Gets Ch. 11 Exit Plan OK With White & Case Guidance
----------------------------------------------------------------
CBRM Realty Inc. has secured confirmation of its Chapter 11 plan
from the U.S. Bankruptcy Court for the District of New Jersey, with
guidance from global law firm White & Case LLP.
The plan, approved on September 4, 2025, was accepted by a
near-unanimous group of creditors, according to the report.
Central to the reorganization is the sale of CBRM's 110-unit Kelly
Hamilton affordable housing property in Pittsburgh. The
transaction, made to the stalking horse bidder affiliated with the
property's current manager, will generate millions in new funding
to support recapitalization and rehabilitation of the complex.
The plan also calls for a litigation trust aimed at recovering
potential claims for unsecured creditors. White & Case's
multidisciplinary team, led by partner Gregory Pesce, included
financial restructuring, real estate, tax, and litigation attorneys
across multiple U.S. offices.
About CBRM Realty
CBRM Realty Inc. is a Somerset, New Jersey-based real estate
investment firm.
CBRM Realty and affiliates sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D.N.J. Lead Case No. 25-15343) on May
19, 2025. In its petition, the Debtors reported estimated assets
and liabilities (on a consolidated basis) between $100 million to
$500 million.
Honorable Bankruptcy Judge Michael B. Kaplan handles the cases.
The Debtors tapped White & Case LLP and Ken Rosen Advisors PC as
counsel, Islanddundon LLC as financial advisor, and Kurtzman Carson
Consultants, LLC, doing business as Verita Global, as claims,
noticing, and solicitation agent.
CHG US: Seeks to Extend Plan Exclusivity to December 8
------------------------------------------------------
CHG US Holdings LLC, and affiliates asked the U.S. Bankruptcy Court
for the District of Delaware to extend their exclusivity periods to
file a plan of reorganization and obtain acceptance thereof to
December 8, 2025 and February 9, 2026, respectively.
The Debtors explain that the initial months of these Chapter 11
Cases have been consumed with stabilizing the Debtors' operations,
identifying for closure and closing certain restaurant locations,
obtaining post-petition financing that would allow a fulsome Sale
process, and conducting the Sale process. The Sale Order approving
the Sale was entered on August 1, 2025, and the Closing occurred on
August 18, 2025. With Closing having occurred just a few short
weeks ago, the Debtors can now turn their focus to a Plan process,
but require an extension of the Exclusive Periods to do so.
The Debtors claim that they have made remarkable progress in these
Chapter 11 Cases, which began as a free-fall and have resulted in a
Sale that not only preserved the Debtors' operations as a going
concern but may also allow for a successful Plan process. The
Debtors' substantial progress to date in administering these
Chapter 11 Cases with a goal of a going concern sale followed by a
plan process warrants an extension of the Exclusive Periods to
allow the Debtors and Committee more time to explore options for a
plan.
Moreover, since the Petition Date, the Debtors have paid their
postpetition debts in the ordinary course or as otherwise provided
by Court order, which was critical both to progression of the Sale
process and to getting to a plan process. The Debtors have engaged
in discussions with the Committee regarding the prospects for and
contours of a confirmable plan that will result in a recovery to
the Debtors' unsecured creditors. An extension of a debtor's
Exclusive Periods is justified by a debtor???s progress in
resolving issues facing its creditors.
The Debtors assert that they are not seeking an extension of the
Exclusive Periods to pressure or prejudice any of their
stakeholders. The Debtors have been diligently moving these Chapter
11 Cases forward, first with the Sale process, and now with an eye
towards achieving a confirmed plan that nets a recovery to
creditors. Accordingly, the relief requested herein does not
prejudice the Debtors' creditors and will benefit the Debtors'
estates, their creditors, and all other key parties in interest.
The Debtors further assert that an objective analysis of the
relevant factors demonstrates that, under the circumstances of
these Chapter 11 Cases, the Debtors are doing everything that they
should be doing to facilitate a successful conclusion with a
confirmed plan. Accordingly, sufficient cause exists to extend the
Exclusive Periods as provided herein.
Counsel to the Debtors:
PASHMAN STEIN WALDER HAYDEN, P.C.
Joseph C. Barsalona II, Esq.
Michael J. Custer, Esq.
824 North Market Street, Suite 800
Wilmington, Delaware 19801
Telephone: (302) 592-6496
Email: jbarsalona@pashmanstein.com
mcuster@pashmanstein.com
-and-
Katherine R. Beilin, Esq.
Court Plaza South, East Wing
21 Main Street, Suite 200
Hackensack, NJ 07601
Telephone: (201) 488-8200
Email: kbeilin@pashmanstein.com
About CHG US Holdings LLC
CHG US Holdings LLC, operating as PLANTA GROUP, operates a chain of
plant-based restaurants with 18 locations across major U.S. cities.
The company's restaurants are located in Miami Beach, Brooklyn,
SOHO, Nomad, Washington DC, Atlanta, Denver, Los Angeles, West Palm
Beach, Chicago, and other metropolitan areas. These restaurants
likely offer exclusively plant-based cuisine based on the PLANTA
brand name and food vendor creditors listed in the filing.
CHG US Holdings LLC and affiliates sought relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-10851) on
May 12, 2025. In its petition, the Debtor reports assets between
$50,000 and $100,000, and liabilities ranging from $10 million to
$50 million.
Bankruptcy Judge Mary F. Walrath handles the case.
The Debtor is represented by Joseph C. Barsalona II, Esq. and
Michael J. Custer, Esq. at Pashman Stein Walder Hayden.
CHICAGO SMILES: Court Extends Cash Collateral Access to Oct. 11
---------------------------------------------------------------
Chicago Smiles, LLC received fifth interim approval from the U.S.
Bankruptcy Court for the Northern District of Illinois, Eastern
Division to use cash collateral.
The court's order authorized the Debtor's interim use of cash
collateral through October 11 to fund business expenses in
accordance with its budget, subject to a 10% variance.
The budget projects total operational expenses of $77,234.97 for
September and $77,234.97 for October.
PNC Bank, National Association, a secured creditor, holds a claim
of $490,233.61 as of the petition date and such claim is secured by
a perfected lien on the Debtor's assets. Other potential secured
creditors include BHG, CAN Capital Inc., and Revenued, LLC.
In case of any diminution in the value of their interests in the
cash collateral, the secured creditors will be granted
post-petition security interests in and liens on the Debtor's
assets similar to their pre-bankruptcy collateral, with the same
priority, validity and enforceability as their pre-bankruptcy
liens.
As additional protection, PNC Bank will receive a monthly payment
of $3,500 under the approved budget.
The next hearing is set for October 7.
About Chicago Smiles LLC
Chicago Smiles, LLC provides a range of dental services, including
cosmetic, implant, and restorative dentistry. The practice offers
treatments such as teeth whitening, veneers, crowns and bridges,
dental implants, Invisalign, root canal therapy, and dentures.
Located in Chicago, the clinic supports new patients with education
on oral health, pain management, and various dental care options.
Chicago Smiles sought relief under Subchapter V of Chapter 11 of
the U.S. Bankruptcy Code (Bankr. S.D. Ill. Case No. 25-07740) on
May 21, 2025. In its petition, the Debtor reported estimated assets
between $500,000 and $1 million and estimated liabilities between
$1 million and $10 million.
Judge Donald R. Cassling handles the case.
William Factor, Esq., at The Law Office of William J. Factor, Ltd.
is the Debtor's bankruptcy counsel.
PNC Bank, N.A., as secured creditor, is represented by:
Martin J. Wasserman, Esq.
Carlson Dash, LLC
216 S. Jefferson St., Suite 303
Phone: 312-382-1600
mwasserman@carlsondash.com
CIVIL LLC: U.S. Trustee Appoints Creditors' Committee
-----------------------------------------------------
Matthew Cheney, Acting U.S. Trustee Region 4, appointed an official
committee to represent unsecured creditors in the Chapter 11 cases
of Civil, LLC and its affiliates.
The committee members are:
1. Andrew E. Fox
Appalachian Laboratories, Inc.
P.O. Box 392
Beckley, WV 258002
(304)673-1763
AFox@Foxmgmt.com
2. Robert J. Kenney First Surety Corporation
179 Summers Street, Suite 307
Charleston, WV 25301
(304)720-1985
rj.kenney@firstsuretycorp.com
3. Don Williams Target Drilling, Inc.
1112 Glacier Drive
Smithton, PA 15479
(724)912-9679
donwilliams@targetdrilling.com
4. Ben Cooksey Corky Wells Electric, Inc.
P.O. Box 203
Rush, KY 41168-0203
(606)923-1424
bcooksey@corelectricinc.com
5. James Brogan Mountaineer Investigation & Security, Inc.
P.O. Box 898
Athens, WV 24712
Telephone: (304) 877-8500
Facsimile (304) 384-3119
LStreeby@misincWV.com
Official creditors' committees serve as fiduciaries to the general
population of creditors they represent. They may investigate the
debtor's business and financial affairs. Committees have the right
to employ legal counsel, accountants and financial advisors at a
debtor's expense.
About Civil LLC
Civil, LLC sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. W.V. Case No. 2:25-bk-20179) on August
20, 2025. In the petition signed by Barry W. Tackett, chief
restructuring officer, the Debtor disclosed between $50 million and
$100 million in assets and between $10 million and $50 million in
liabilities.
Judge B. Mckay Mignault oversees the case.
J. Zachary Balasko, Esq., at Steptoe and Johnson PLLC, represents
the Debtor as legal counsel.
Pocahontas Land and its affiliates, as lenders, are represented
by:
Charles B. Dollison, Esq.
Zachary J. Rosencrance, Esq.
Michael R. Proctor, Esq.
Bowles Rice, LLP
600 Quarrier Street
Post Office Box 1386
Charleston, WV 25325-1386
Telephone: (304) 347-1100
Facsimile: (304) 347-1756
zrosencrance@bowlesrice.com
mproctor@bowlesrice.com
cdollison@bowlesrice.com
-- and --
Jennifer M. McLemore, Esq.
Michael D. Mueller, Esq.
Williams Mullen
200 South 10th Street, Suite 1600
Post Office Box 1320 (23218)
Richmond, VA 23219
Telephone: (804) 420-6330
Facsimile: (804) 420-6507
jmclemore@williamsmullen.com
mmueller@williamsmullen.com
CK BUILDERS: Seeks to Hire Century 21 Burroughs as Estate Broker
----------------------------------------------------------------
CK Builders, LLC seeks approval from the U.S. Bankruptcy Court for
the Western District of Texas to employ Century 21 Burroughs as
real estate broker.
The Debtor needs a broker to sell its property located at 318 Elks,
San Antonio, Texas.
The firm will receive a commission of 4 percent of the property's
sale price.
Lauri Robinson, a real estate agent at Century 21 Burroughs,
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:
Laurie Robinsons
Century 21 Burroughs
10900 Perrin Bietel Rd.
San Antonio, TX 78217
Telephone: (210) 654-8080
Email: robnson.laurie@gmail.com
About CK Builders LLC
CK Builders, LLC provides home improvement and general contracting
services in the Pipe Creek and San Antonio areas of Texas. The
Company holds a home improvement contractor license and has
completed various residential remodeling and repair projects.
CK Builders sought relief under Subchapter V of Chapter 11 of the
U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 25-51458) on June
30, 2025. In its petition, the Debtor reported between $1 million
and $10 million in assets and up to $50,000 in liabilities.
Judge Craig A. Gargotta handles the case.
The Debtor is represented by William R. Davis, Jr., at Langley &
Banack, Inc.
CLAIRE'S STORES: Closes Alabama Locations in Chapter 11
-------------------------------------------------------
M.K. Bryant of CBS 42 reports that national mall retailer Claire's
announced that 4 locations in Alabama are included in the closure
of 235 stores as part of its bankruptcy restructuring.
Stores in Leeds and Alabaster have already closed, while those in
Decatur and Foley are expected to shut their doors at a later date,
according to the report. The closures follow the company's Chapter
11 filing in early August 2025.
For many, the closures mark the end of a nostalgic shopping
experience. Former Alabaster employee Romeo Garrison described
working at Claire's as enjoyable because of the store's focus on
children. Ex-manager Lyric Caroll added that the store held
sentimental value, recalling how she once shopped there as a teen
before later managing the same location, the report states.
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: Seeks to Hire Neeleman Law Group as Legal Counsel
---------------------------------------------------------------
Clever Being, LLC seeks approval from the U.S. Bankruptcy Court for
the Western District of Washington to employ Neeleman Law Group, PC
as counsel.
The firm will render these services:
(a) assist the Debtor in the investigation of the financial
affairs of the estate;
(b) advise and assist the Debtor with respect to matters
relating to this case and creditor distribution;
(c) prepare all pleadings necessary for proceedings arising
under this case; and
(d) perform all necessary legal services for the estate in
relation to this case.
The firm will be paid at these hourly rates:
Principals $600
Associate $475
Paralegal $250
In addition, the firm will seek reimbursement for expenses
incurred.
The firm received a retainer of $16,738 from the Debtor.
Jennifer Neeleman, Esq., an attorney at Neeleman Law Group,
disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.
The firm can be reached through:
Jennifer L. Neeleman, Esq.
Neeleman Law Group, P.C.
1403 8th Street
Marysville, WA 98270
Telephone: (425) 212-4800
Email: jennifer@neelemanlaw.com
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 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 reported 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, Esq., at
Neeleman Law Group, P.C.
COAST TO COAST: Unsecureds Will Get 30% of Claims over 60 Months
----------------------------------------------------------------
Coast to Coast Leasing, LLC, submitted a Second Amended Combined
Plan of Reorganization and Disclosure Statement.
The Debtor has returned refrigerated trailers to various lenders
and expects to receive a credit for the amount realized on the
liquidation of the refrigerated trailers.
The balance remaining on liquidation of the refrigerated trailers
will be an unsecured claim for each of the respective lenders.
Debtor proposes to pay 30% on the respective unsecured claims over
the five-year period of the Plan.
Specific Plan treatment as to M&T has been agreed to and stipulated
between the Debtor and M&T owing to its senior secured position,
and the stipulation was approved and "so ordered" by the Court on
July 30, 2024.
With respect to the Transportation Equipment that the Debtor
proposes to keep, (trucks) Debtor will pay the agreed value of the
Secured Claim with interest at 9% during the term of the plan and
the 30% of unsecured portion of the respective creditor's claim
without interest over the 5-year term of the Plan.
Treatment of Unsecured Claims
Class 3.1. In general, the Unsecured Claim of a Secured Creditor
who is undersecured represents the amount of such Secured
Creditor's Claim as of the Petition Date, less the value of the
Collateral securing such Claim as of the Petition Date, and the
Secured Creditor is, to the extent of that deficiency in value, an
Unsecured Creditor holding an Unsecured Claim. The Debtor shall pay
the Allowed Unsecured Claim of each Unsecured Creditor in Class
3.1, including the deficiency Unsecured Claims held by undersecured
Creditors, a dividend of 30% in sixty equal monthly installments
commencing on the 25th day of the month following the Effective
Date of the Plan, with interest at 5%.
The Unsecured Claims in Class 3.2, if any, shall be estimated for
purposes of allowance. To the extent allowed, such Allowed
Unsecured Claims shall be treated in the manner provided for
Allowed Unsecured Claims in Class 3.1.
Monthly payments will be made under the Plan from the Debtor's
income. The Debtor's revenue has been and will continue to be lease
payments from Nationwide Cargo, Inc. Nationwide Cargo has been able
to make lease payments to the Debtor since the Petition Date,
allowing the Debtor to make Adequate Protection Payments in an
amount approaching or exceeding $2 million.
With the relief provided by the Plan, Nationwide Cargo's operating
income will be sufficient to allow it to make lease payments to the
Reorganized Debtor, enabling the Debtor to make all Plan payments
in full.
During the course of this Chapter 11 case, Hristo Angelov, a
shareholder of the Debtor and a Guarantor, has indirectly
contributed $500,000 to the capital of the Debtor representing the
proceeds of a refinancing of the loan on his personal residence.
This contribution was made through the Debtor's affiliate,
Nationwide Cargo, Inc., for the purpose of allowing the funding of
adequate protection payments by the Debtor.
A full-text copy of the Second Amended Combined Plan and Disclosure
Statement dated September 1, 2025 is available at
https://urlcurt.com/u?l=03SCUf from PacerMonitor.com at no charge.
Counsel to the Debtor:
David P. Leibowitz, Esq.
Law Offices of David P. Leibowitz, LLC
3478 N. Broadway, Unit 234
Chicago, IL 60657-6968
Phone: (312) 662-5750
Email: dleibowitz@lakelaw.com
About Coast to Coast Leasing
Coast to Coast Leasing is part of the general freight trucking
industry.
Coast to Coast Leasing filed its voluntary petition for relief
under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ill. Case No.
24-03056) on March 1, 2024, listing $9,989,000 in assets and
$19,167,713 in liabilities. The petition was signed by Hristo
Angelo as member.
Judge Jacqueline P. Cox presides over the case.
David P Leibowitz, at the Law Offices of David P. Leibowitz, LLC,
is the Debtor's counsel.
CONTRACTOR SALES: Public Sale Auction Set for Sept. 11, 2025
------------------------------------------------------------
MRP Trading I A, LLC ("Secured Party") will conduct, through its
counsel, Greenberg Traurig, LLP ("Greenberg Traurig"), on Sept. 11,
2025, at 10:00 a.m. CST or such later date and time, a disposition
of the equity interests in Contractor Sales & Services LLC and
Eberhart Construction Rentals LLC by public sale ("Auction").
To participate in the auction, you must comply with the
participation requirements by 4:00 p.m. CST on Sept. 8, 2025.
Additional information about the auction, including how to become a
qualified bidder will be posted at https://www.dailydac.com or can
be obtained from Secured Party's counsel by emailing
howee@gtlaw.com.
If you seek any additional information regarding the auction or the
property, please contact legal counsel for the Secured Party,
Greenberg Traurig, at: Michael Fisco (612-259-9710;
fiscom@gtlaw.com) and Eric Howe (612-259-9716; howee@gtlaw.com).
Greenberg Traurig LLP
90 South 7th Street, Suite 3500
Minneapolis, MN 55402
Contractor Sales & Services LLC owns and operates an aerial
equipment rental and services company in Des Moines, Iowa.
CRED INC: Ex-Execs Sentenced For $150MM Wire Fraud Scheme
---------------------------------------------------------
Sydney Price of Law360 reports that the ex-CEO and CFO of bankrupt
crypto lender Cred Inc. were sentenced to four and three years in
prison, respectively, after pleading guilty to conspiracy to commit
wire fraud.
About Cred Inc.
Cred Inc. is a cryptocurrency platform that accepts loans of
cryptocurrency from non-U.S. persons and pays interest on those
loans. Cred -- https://mycred.io/ -- is a global financial services
platform serving customers in over 100 countries. Cred is a
licensed lender and allows some borrowers to earn a yield on
cryptocurrency pledged as collateral.
Cred Inc. and its affiliates sought Chapter 11 protection (Bankr.
D. Del. Lead Case No. 20-12836) on Nov. 7, 2020. Cred was estimated
to have assets of $50 million to $100 million and liabilities of
$100 million to $500 million as of the bankruptcy filing.
Judge John T. Dorsey oversees the cases.
The Debtors tapped Paul Hastings LLP as their bankruptcy counsel,
Cousins Law LLC as local counsel, and MACCO Restructuring Group,
LLC as financial advisor. Donlin, Recano & Company, Inc., is the
claims agent.
The official committee of unsecured creditors in the Debtors'
Chapter 11 cases tapped McDermott Will & Emery LLLP as counsel, and
Dundon Advisers LLC as financial advisor.
Robert Stark is the examiner appointed in the Debtors' cases. Ashby
& Geddes, P.A., and Ankura Consulting Group, LLC, serve as the
examiner's legal counsel and financial advisor, respectively.
CS-ORED LLC: Seeks to Tap EXIT Realty Consultants as Estate Broker
------------------------------------------------------------------
CS-ORED, LLC seeks approval from the U.S. Bankruptcy Court for the
Northern District of California to employ EXIT Realty Consultants
as broker.
The firm will provide these services:
(a) advise the Debtor with respect to preparing the properties
for sale; and
(b) act as listing agent to market and sell the property.
The firm will receive a commission of 2 percent of the gross sales
price.
Clarissa Maria Azevedo, an agent at EXIT Realty Consultants,
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:
Clarrissa Maria Azevedo
EXIT Realty Consultants
901 McHenry Ave. #1
Modesto, CA 95350
Telephone: (209) 95-3944
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.
DAYTON HOTELS 2: Seeks to Tap Integra as Appraiser & Expert Witness
-------------------------------------------------------------------
Dayton Hotels 2, LLC seeks approval from the U.S. Bankruptcy Court
for the Southern District of Ohio to employ Integra Realty
Resources as appraiser and expert witness.
The firm will provide analysis, testimony and reports as an
appraiser and expert witness regarding determination of Debtor's
market value and other matters related to this bankruptcy case.
The hourly rate of Michael Hunter or any other firm's
representative for testimony and trial preparation is $400 per
hour.
In addition, the firm will seek reimbursement for expenses
incurred.
The firm has agreed to accept $3,900 to perform the valuation of
the Debtor.
Mr. Hunter 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 Hunter
Integra Realty Resources
6233 Riverside Drive, Suite 2N
Dublin, OH 43017
About Dayton Hotels 2 LLC
Dayton Hotels 2, LLC operates a hotel under the Days Inn by Wyndham
brand near Dayton International Airport. It manages lodging
services at 20 Rockridge Road in Englewood, Ohio, offering
accommodations and amenities for both business and leisure
travelers.
Dayton Hotels 2 sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Ohio Case No. 25-52719) on June 20,
2025, listing up to $50,000 in assets and up to $10 million in
liabilities. InnVite Opco, Inc., the sole member of the Debtor,
signed the petition.
Judge Mina Nami Khorrami oversees the case.
The Debtor tapped Denis E. Blasius, Esq., at Thomsen Law Group, LLC
as counsel and Contemporary Business Solutions, Inc. as accountant.
DAYTON HOTELS 2: Taps Contemporary Business Solutions as Accountant
-------------------------------------------------------------------
Dayton Hotels 2, LLC seeks approval from the U.S. Bankruptcy Court
for the Southern District of Ohio to employ Contemporary Business
Solutions, Inc. as accountant.
The firm will provide these services:
(a) assist the Debtor with preparation of tax returns;;
(b) assist the Debtor with prepared financial statements; and
(c) assist the Debtor in preparation of monthly operating
reports or other financial reporting required by the Bankruptcy
Court.
Steven Covert, a principal at Contemporary Business Solutions, will
be paid at his hourly rate of $200 plus expenses.
Mr. Covert 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:
Steven J. Covert
Contemporary Business Solutions, Inc.
3791 Attucks Drive
Powell, OH 43065
Telephone: (614) 846-3600
Email: Scovert@cbscpa.com
About Dayton Hotels 2 LLC
Dayton Hotels 2, LLC operates a hotel under the Days Inn by Wyndham
brand near Dayton International Airport. It manages lodging
services at 20 Rockridge Road in Englewood, Ohio, offering
accommodations and amenities for both business and leisure
travelers.
Dayton Hotels 2 sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Ohio Case No. 25-52719) on June 20,
2025, listing up to $50,000 in assets and up to $10 million in
liabilities. InnVite Opco, Inc., the sole member of the Debtor,
signed the petition.
Judge Mina Nami Khorrami oversees the case.
The Debtor tapped Denis E. Blasius, Esq., at Thomsen Law Group, LLC
as counsel and Contemporary Business Solutions, Inc. as accountant.
DB TRANSPORT: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: DB Transport LLC
3586 Sangani Blvd
Ste L 307
Diberville, MS 39540
Business Description: DB Transport LLC provides vehicle
transportation and freight services across
the United States, specializing in the
interstate shipment of automobiles and
general cargo. The Company operates under
federal registration with the U.S.
Department of Transportation and maintains
offices in D'Iberville, Mississippi, and
Murfreesboro, Tennessee. It serves
individual customers and businesses
requiring open or enclosed transport
solutions.
Chapter 11 Petition Date: September 4, 2025
Court: United States Bankruptcy Court
Southern District of Mississippi
Case No.: 25-51307
Judge: Hon. Katharine M Samson
Debtor's Counsel: Thomas C. Rollins, Jr., Esq.
THE ROLLINS LAW FIRM, PLLC
P.O. Box 13767
Jackson, MS 39236
Tel: 601-500-5533
E-mail: trollins@therollinsfirm.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Donshekie Barrett as member.
A copy of the Debtor's list of 20 largest unsecured creditors is
available for free on PacerMonitor at:
https://www.pacermonitor.com/view/H6SNEZI/DB_Transport_LLC__mssbke-25-51307__0004.0.pdf?mcid=tGE4TAMA
A full-text copy of the petition is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/HNX574Q/DB_Transport_LLC__mssbke-25-51307__0001.0.pdf?mcid=tGE4TAMA
DEPLOYED SOLDIERS: Seeks to Hire David Cahn LLC as Attorney
-----------------------------------------------------------
Deployed Soldiers Network LLC seeks approval from the U.S.
Bankruptcy Court for the District of Maryland to hire Law Office of
David Cahn, LLC as attorneys.
The firm's services include:
a. advising the Debtor legal advice with respect to his powers
and duties as Debtor-in-Possession;
b. advising the Debtor concerning, and assisting in the
negotiation and documentation of, financing agreements, debt
restructurings, cash collateral arrangements and related
transactions, as applicable;
c. representing the Debtor in defense of any proceedings
instituted to reclaim property or to obtain relief from the
automatic stay under section 362(a) of the bankruptcy Code;
d. representing the Debtor in any proceedings instituted with
respect to use of cash collateral;
e. attending any and all meetings pursuant to 11 U.S.C. Sec.
341 and any and all court hearings scheduled;
f. reviewing the nature and validity of liens asserted against
the property of the Debtor and advising the Debtor concerning the
enforceability of such liens, as applicable;
g. advising the Debtor concerning the actions that it might
take to collect and to recover property for the benefit of the
Debtor's estate;
h. preparing on behalf of the Debtor all necessary and
appropriate applications, motions, pleadings, draft orders,
notices, schedules and other documents, and reviewing all financial
and other reports to be filed in this Chapter 11 case;
i. advising the Debtor concerning, and preparing responses to,
applications, motion, pleadings, notices and other papers that may
be filed and service in this Chapter 11 case;
j. counseling the Debtor in connection with the formulation,
negotiation and promulgation of a plan of reorganization or
liquidation and related documents;
k. performing all other legal services it is qualified to
handle for and on behalf of the Debtor that may be necessary or
appropriate in the administration of this Chapter 11 case; and
l. performing all other legal services for the Debtor which
may be necessary herein and to accomplish the goals of this
reorganization.
David Cahn will be paid at these hourly rates:
Attorney $400
Paralegal $100
The firm received a retainer fee of $10,000 from Debtor, and filing
fee of $1,738.
David E. Cahn, Esq., at the Law Office of David Cahn, LLC,
disclosed in court filing that the firm is a "disinterested person"
within the meaning of Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
David E. Cahn, Esq.
Law Office of David Cahn, LLC
13842A Outlet Dr., #175
Silver Spring, MD 20904
Tel: (301) 799-8072
About Deployed Soldiers Network LLC
Deployed Soldiers Network, LLC is an information technology company
that appears to provide specialized IT services related to military
personnel or veterans.
Deployed Soldiers Network sought relief under Subchapter V of
Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Md. Case No.
25-17821) on August 26, 2025. In its petition, the Debtor reported
between $500,000 and $1 million in assets and liabilities.
The Debtor is represented by the Law Office of David Cahn, LLC.
DETCO INC: Unsecured Creditors Will Get 36.7% of Claims in Plan
---------------------------------------------------------------
Detco, Inc. submitted an Amended Combined Small Business Plan of
Reorganization and Disclosure Statement dated August 29, 2025.
The Debtor's Plan proposes to pay creditors using cash flow from
operations and/or future income and the sale of its assets.
The Plan provides for 1 class of priority claims, 2 classes of
secured claims; 1 class of general unsecured claims; and 1 class of
equity security holders. General non-priority unsecured creditors
holding allowed claims will receive distributions, which the
proponent of this Plan has valued at approximately 255,616.58 or
36.7%4. This Plan also provides for the payment of certain
administrative expenses.
Class 4 consists solely of Debtor's unsecured, nonpriority claim of
the IRS $695,624.31, as reflected on POC #2. The IRS will be paid
the balance of the proceeds expected from the sale of its assets
after paying Debtor's secured claims and Kapitas' and the IRS's
priority claim. Currently that amount is estimated at $255,616.58.
Payments and distributions under the Plan will be funded by the net
monthly and/or annual cash flow from business operations of the
Debtor and from the sale of Debtor's assets estimated at a total of
$2,675,000.00.
The Debtor projected Financial Pro Forma shows that the Debtor will
have an aggregate annual average net cash flow, over the life of
the Plan, after paying operating expenses and post-confirmation
taxes on average of $9,755.31. The final Plan payment is expected
to be paid on November 31, 2027 (or sooner if the Debtor's assets
are sold).
Objections to this Disclosure Statement or to confirmation of the
Plan must be filed with the Court and served upon Frank Falkner,
Attorney for Debtor, P.O. Box 34157, Little Rock, AR 72203, by
October 3, 2025. Ballots must be received by Friday, October 3,
2025, or it will not be counted.
The hearing at which the Court will determine whether to finally
approve this Disclosure Statement and confirm the Plan will take
place on October 23, 2025, at 9:30 AM, in the Courtroom of the
Honorable Phyllis M. Jones, at the Federal Building, 615 S. Main
Street, Jonesboro, AR 72401.
A full-text copy of the Amended Combined Plan and Disclosure
Statement dated August 29, 2025 is available at
https://urlcurt.com/u?l=UXMod8 from PacerMonitor.com at no charge.
About Detco Inc.
Detco Inc. owns a 207,781 sq. ft. building located on 4.77 acres
located in Greene County at 1810 U.S. 49, Paragould, AR 72450. This
commercial property, on which the Debtor's convenience store &
service station are located, has an appraised value of $2.1
million.
Detco Inc. sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Ark. Case No. 24-12775) on Aug. 26,
2024. In the petition signed by David Detlefsen, chairman, the
Debtor disclosed $2,766,656 in assets and $1,615,389 in
liabilities.
Judge Phyllis M. Jones presides over the case.
Dilks Law Firm serves as the Debtor's counsel.
The firm can be reached through:
Frank H. Falkner, Esq.
Lyndsey D. Dilks, Esq.
Dilks Law Firm
P.O. Box 34157
Little Rock, AR 72203
Telephone: (501) 244-9770
Facsimile: (888) 689-7626
Email: frank@dilkslawfirm.com
ldilks@dilkslawfirm.com
DIOCESE OF BUFFALO: Seeks to Hire Jones Day as Corporate Counsel
----------------------------------------------------------------
The Diocese of Buffalo, N.Y. seeks approval from the U.S.
Bankruptcy Court for the Western District of New York to employ
Jones Day as special corporate governance counsel.
The firm will provide complex corporate governance advice, as well
as advise the Debtor on certain restricted gift issues, and other
complex and novel New York Not-for-Profit Corporation Law issues
that have arisen in connection with its efforts to propose a plan
of reorganization in this case.
The firm will be paid at a blended hourly rate of $443 plus
out-of-pocket expenses.
John Goetz, Esq., an attorney at Jones Day, 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 D. Goetz, Esq.
Jones Day
250 Vesey Street
New York, NY 10281
Telephone: (212) 326-3939
facsimile: (212) 755-7306
About The Diocese of Buffalo N.Y.
The Diocese of Buffalo, N.Y., is home to nearly 600,000 Catholics
in eight counties in Western New York. The territory of the diocese
is co-extensive with the counties of Erie, Niagara, Genesee,
Orleans, Chautauqua, Wyoming, Cattaraugus, and Allegany in New York
State, comprising 161 parishes. There are 144 diocesan priests and
84 religious priests who reside in the Diocese.
The diocese through its central administrative offices (a) provides
operational support to the Catholic parishes, schools, and certain
other Catholic entities that operate within the territory of the
Diocese "OCE"; (b) conducts school operations through which it
provides parish schools with financial and educational support; (c)
provides comprehensive risk management services to the OCEs; (d)
administers a lay pension trust and a priest pension trust for the
benefit of certain employees and priests of the OCEs; and (e)
provides administrative support for St. Joseph Investment Fund,
Inc.
Dealing with sexual abuse claims, the Diocese of Buffalo sought
Chapter 11 protection (Bankr. W.D.N.Y. Case No. 20-10322) on Feb.
28, 2020. The diocese was estimated to have $10 million to $50
million in assets and $50 million to $100 million in liabilities as
of the bankruptcy filing.
The Honorable Carl L. Bucki is the case judge.
The Debtor tapped Bond, Schoeneck & King, PLLC, led by Stephen A.
Donato, Esq., as counsel; Connors LLP and Lippes Mathias Wexler
Friedman LLP as special litigation counsel; Jones Day as special
corporate governance counsel; and Phoenix Management Services, LLC
as financial advisor. Stretto is the claims agent, maintaining the
page: https://case.stretto.com/dioceseofbuffalo/docket
The U.S. Trustee for Region 2 appointed a committee of unsecured
creditors on March 12, 2020. The committee tapped Pachulski Stang
Ziehl & Jones, LLP and Gleichenhaus, Marchese & Weishaar, PC as
bankruptcy counsel, and Burns Bair LLP as special insurance
counsel.
DISCOUNT AUTO: Hires Steidl and Steinberg as Bankruptcy Counsel
---------------------------------------------------------------
Discount Auto Glass, Inc. seeks approval from the U.S. Bankruptcy
Court for the Western District of Pennsylvania to hire Christopher
M. Frye, Esq. and Steidl and Steinberg, P.C. as to handle its
Chapter 11 case.
The current hourly rate for counsel is $350 per hour.
The firm received a retainer in the amount of $5,000 plus the
filing fee of $1,738.
Mr. Frye 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:
Christopher M. Frye, Esq.
Steidl & Steinberg
Koppers Building, Suite 322
436 Seventh Avenue
Pittsburgh, PA 15219
Tel: (412) 391-8000
Email: chris.frye@steidl-steinberg.com
About Discount Auto Glass Inc.
Discount Auto Glass Inc., operates under the names Discount Auto
Glass and Discount Auto Glass and Service, is an automotive glass
repair and replacement services provider operating in North
Versailles, Pennsylvania.
Discount Auto Glass sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. W.D. Pa. Case No. 25-22204) on August 1,
2025. In its petition, the Debtor reported up to $50,000 in assets
and between $100,000 and $500,000 in liabilities.
The Debtor is represented by Christopher M. Frye, Esq., at Steidl &
Steinberg, P.C.
DP LOUISIANA: Court Extends Cash Collateral Access to Oct. 2
------------------------------------------------------------
DP Louisiana, LLC received third interim approval from the U.S.
Bankruptcy Court for the Eastern District of Louisiana to use cash
collateral to fund its operations.
The court's order authorized the Debtor's interim use of cash
collateral for the period from September 1 through October 2.
The Debtor intends to use cash received from the sale of
hydrocarbons in which a secured creditor may assert security
interests pursuant to the Louisiana Oilwell Lien Act (LOWLA). It
has identified 26 creditors, which may possess lien rights against
the oil and gas leases and equipment it owns.
As adequate protection, the LOWLA lienholders will be granted
perfected replacement liens on collateral as to which they had a
first priority lien as of the petition date, subject to the
carveout for certain fees; and junior perfected liens on the
collateral that is subject to a validly perfected lien with
priority over the LOWLA lienholders' liens as of the petition
date.
In case the replacement liens prove to be inadequate to protect the
LOWLA lienholders, an allowed superpriority administrative expense
claim will be granted to such lienholders, subject to the
carveout.
The fourth interim hearing is scheduled for October 2.
A copy of the court's order and the Debtor's budget is available at
https://shorturl.at/mBOvg from PacerMonitor.com.
About DP Louisiana LLC
DP Louisiana LLC is engaged in oil and gas extraction operations.
It is based in Louisiana and uses EAG Services in Houston, Texas,
for administrative support.
DP Louisiana sought relief under Subchapter V of Chapter 11 of the
U.S. Bankruptcy Code (Bankr. E.D. La. Case No. 25-11366) on June
30, 2025. In its petition, the Debtor reported between $1 million
and $10 million in assets and liabilities.
Judge Meredith S. Grabill handles the case.
The Debtor is represented by Douglas S. Draper, Esq., at Heller,
Draper & Horn, L.L.C.
E.O. PROPERTIES: Todd Hennings Named Subchapter V Trustee
---------------------------------------------------------
The Acting U.S. Trustee for Region 21 appointed Todd Hennings,
Esq., at Macey, Wilensky & Hennings, LLP as Subchapter V trustee
for E.O. Properties, LLC.
Mr. Hennings will be paid an hourly fee of $450 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.
Mr. Hennings declared that he is a disinterested person according
to Section 101(14) of the Bankruptcy Code.
The Subchapter V trustee can be reached at:
Todd E. Hennings, Esq.
Macey, Wilensky & Hennings, LLP
5500 Interstate North Parkway, Suite 435
Sandy Springs, GA 30328
Phone: (404) 584-1222
Email: info@joneswalden.com
About E.O. Properties LLC
E.O. Properties, LLC filed a petition under Chapter 11, Subchapter
V of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-60071) on
September 2, 2025.
EASTERN COLORADO: Plan Exclusivity Period Extended to December 15
-----------------------------------------------------------------
Judge Joseph G. Rosania, Jr. of the U.S. Bankruptcy Court for the
District of Colorado extended Eastern Colorado Seeds, LLC and
affiliates' exclusive periods to file a plan of reorganization and
obtain acceptance thereof to December 15, 2025 and January 12,
2026, respectively.
As shared by Troubled Company Reporter, applying the pertinent
factors here demonstrates that a 3-month extension of the exclusive
periods is appropriate:
* the size and complexity of the chapter 11 matters. Debtors'
intertwined operations are complex. Because of the complexity of
Debtors' operations, Debtors anticipate proposing a joint plan.
* the necessity of sufficient time to allow the debtor to
negotiate a plan of reorganization. Debtors have taken steps to
normalize operations by obtaining approval to use cash collateral,
negotiating adequate protection payments, selling property no
longer necessary for operations, and exploring potential paths
forward. Debtors believe that getting through the bulk of what is
their most important sales and revenue period will be important
information for all parties in considering a plan. Moreover,
determining whether or what farm ground Farms may lease is an
important aspect of making financial projections of the Business.
* the existence of good faith progress toward reorganization.
The Debtors have made good faith efforts towards reorganizing
during the case, including by regaining control of their assets,
normalizing operations, selling property no longer required for
operations, and adjusting operations to survive without a line of
credit. Debtors have also made agreements for adequate protection
payments with American AgCredit and PNC. Debtors require additional
time to formulate a confirmable plan and the projections to support
the plan.
* whether the debtor has demonstrated reasonable prospects for
filing a viable plan. Seeds' cash collateral budget provides for
payment of ordinary course expenses. The agreed supplemental
budgets reflect a significant amount of work by Debtors'
management; typically, Seeds would draw on a line of credit for the
spring planting and crop inputs through harvest to fund its cash
needs. The supplemental budget reflects operational and business
changes to deal with the absence of a line of credit to draw.
Counsel for Interested Party, ECS Farms, LLC, Clay and Christine
Smith, and Pinnacol Holdings, LLC:
Jeffrey A. Weinman, Esq.
Jordan Factor, Esq.
Katharine S. Sender, Esq.
1600 Stout Street, Suite 1900
Denver, Colorado 80202
(303) 534-4499
Email: JWeinman@allenvellone.com
JFactor@allen-vellone.com
KSender@allen-vellone.com
Attorneys for Eastern Colorado Seeds, LLC:
Andrew D. Johnson, Esq.
Alice A. White, Esq.
Gabrielle G. Palmer, Esq.
600 17th Street, Suite 425 North
Denver, Colorado 80202
Ph: (720) 457-7059
Email: ajohnson@OFJlaw.com
awhite@OFJlaw.com
gpalmer@OFJlaw.com
About Eastern Colorado Seeds
Eastern Colorado Seeds, LLC is a full-service seed company offering
a wide range of agricultural seeds, including grains, forages,
reclamation seeds, and specialty products like pulses, millets, and
sunflowers. With locations in Burlington, CO, Dumas, TX, and
Clovis, NM, the company ensures efficient delivery and a consistent
supply of high-quality products to its customers. The knowledgeable
team at Eastern Colorado Seeds specializes in crop advisory,
precision technology, and livestock nutrition.
Eastern Colorado Seeds LLC sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D. Col. Case No.: 25-10244) on January
15, 2025. In its petition, the Debtor reports estimated assets and
liabilities between $10 million and $50 million each.
Honorable Bankruptcy Judge Joseph G Rosania Jr. handles the case.
The Debtor is represented by Andrew W. Johnson, Esq. at Onsager
Fletcher Johnson LLC.
EDWARD'S BODY: Seeks to Tap Kenneth Abrams as Bankruptcy Counsel
----------------------------------------------------------------
Edward's Body Shop & Auto Repair Inc. seeks approval from the U.S.
Bankruptcy Court for the Southern District of Florida to employ
Kenneth S. Abrams, PA as counsel.
The firm's services includes:
(a) advise the Debtor with respect to its powers and duties
and the continued management of its business operations;
(b) advise the Debtor with respect to its responsibilities in
complying with the U.S. Trustee's Operating Guidelines and
Reporting Requirements and with the rules of the court;
(c) prepare legal documents necessary in the administration of
the case;
(d) protect the interest of the Debtor in all matters pending
before the court;
(e) represent the Debtor in negotiation with its creditors in
the preparation of a plan.
Kenneth Abrams, Esq. disclosed in a court filing that his firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firm can be reached through:
Kenneth S. Abrams, Esq.
Kenneth S. Abrams, PA
9769 S. Dixie Highway, Suite 203
Miami, FL 33156
Telephone: (305) 598-1880
Facsimile: (305) 598-1881
Email:Kabrams@bkclaw.com
About Edward's Body Shop & Auto Repair
Edward's Body Shop & Auto Repair, Inc. is a privately held company
in Miami, Florida, that provides automotive repair and maintenance
services. It was incorporated in 1986.
Edward's Body Shop & Auto Repair sought protection under Chapter 11
of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-19451) on Aug.
15, 2025, listing up to $10 million in both assets and
liabilities.
Judge Corali Lopez-Castro oversees the case.
Kenneth S. Abrams, PA serves as the Debtor's counsel.
ENKB-MONTICELLO: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Four affiliates that concurrently filed voluntary petitions for
relief under Chapter 11 of the Bankruptcy Code:
Debtor Case No.
------ --------
ENKB-Monticello LLC 25-80418
Monticello Apartments
8600 Woodway Dr
Houston TX 77063
La Plaza 2022 LLC 25-80419
La Plaza Apartments
8600 Woodway Dr
Houston TX 77063
Mar De Sol 2021 LLC 25-80420
Mar Del Sol Apartments
8600 Woodway Dr
Houston TX 77063
TX Nueva 2021 LLC 25-80421
Villa Nueva Apartments
8600 Woodway Dr
Houston TX 77063
Business Description: ENKB-Monticello LLC, La Plaza 2022 LLC, Mar
De Sol 2021 LLC, and TX Nueva 2021 LLC own
and operate multifamily residential
properties in Texas, including Monticello
Apartments, La Plaza Apartments, Mar Del Sol
Apartments, and Villa Nueva Apartments. The
Debtors provide rental housing across
their respective communities and are managed
as part of a real estate investment
portfolio based in Houston, Texas.
Chapter 11 Petition Date: September 7, 2025
Court: United States Bankruptcy Court
Southern District of Texas
Judge: Hon. Alfredo R Perez
Debtors' Counsel: Joyce W. Lindauer, Esq.
JOYCE W. LINDAUER ATTORNEY, PLLC
117 S. Dallas Street
Ennis TX 75119
Tel: 972-503-4033
E-mail: joyce@joycelindauer.com
ENKB-Monticello LLC's
Estimated Assets: $10 million to $50 million
ENKB-Monticello LLC's
Estimated Liabilities: $1 million to $10 million
La Plaza 2022 LLC's
Estimated Assets: $10 million to $50 million
La Plaza 2022 LLC's
Estimated Liabilities: $10 million to $50 million
Mar De Sol 2021 LLC's
Estimated Assets: $10 million to $50 million
Mar De Sol 2021 LLC's
Estimated Liabilities: $10 million to $50 million
TX Nueva 2021 LLC's
Estimated Assets: $10 million to $50 million
TX Nueva 2021 LLC's
Estimated Liabilities: $10 million to $50 million
The petitions were signed by Fercan E. Kalkan as manager.
The Debtors failed to provide lists of their 20 largest unsecured
creditors in the petitions.
Full-text copies of the petitions are available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/ZHBNIWY/ENKB-Monticello_LLC__txsbke-25-80418__0001.0.pdf?mcid=tGE4TAMA
https://www.pacermonitor.com/view/ZPEQO4Q/La_Plaza_2022_LLC__txsbke-25-80419__0001.0.pdf?mcid=tGE4TAMA
https://www.pacermonitor.com/view/ZVX5QCA/Mar_De_Sol_2021_LLC__txsbke-25-80420__0001.0.pdf?mcid=tGE4TAMA
https://www.pacermonitor.com/view/Z4MI2TY/TX_Nueva_2021_LLC__txsbke-25-80421__0001.0.pdf?mcid=tGE4TAMA
FEC RESOURCES: PXP Energy Holds 81.25% Equity Stake
---------------------------------------------------
PXP Energy Corp., disclosed in a Schedule 13D filed with the U.S.
Securities and Exchange Commission that as of July 31, 2025, it
beneficially owns 806,563,711 shares of FEC Resources Inc.'s common
stock, without par value, representing approximately 81.25% of the
992,646,096 shares outstanding as reported in the FEC's most recent
information circular dated August 7, 2025. The shares were acquired
over time through purchases, settlements of rights offerings, and
debt conversion as detailed in the Schedule 13D filing.
PXP Energy Corp. may be reached through:
Paul Wallace
Suite 2300, Bentall 5, 550 Burrard Street
Vancouver, British Columbia, Canada, V6C 2B5
Phone: 778-587-6201
A full-text copy of PXP Energy Corp.'s SEC report is available at:
https://tinyurl.com/3kfkrvwj
About FEC Resources Inc.
Vancouver, Canada-based FEC Resources, Inc. is an investment
holding company, which engages in the exploration and development
operation of oil and gas business.
For the year ended December 31, 2024, the Company had $8.6 million
in total assets, $937,244 in liabilities, and $7.6 million in total
equity.
Vancouver, Canada-based DMCL LLP, the Company's auditor since 2017,
issued a "going concern" qualification in its report dated July 14,
2025, citing that the Company has disclosed certain conditions that
raise substantial doubt about the Company's ability to continue as
a going concern.
FINLEY DESIGN: Court Extends Cash Collateral Access to Sept. 30
---------------------------------------------------------------
Finley Design, P.A. received another extension from the U.S.
Bankruptcy Court for the Eastern District of North Carolina to use
cash collateral.
The fourth interim order authorized the Debtor to use cash
collateral through September 30 to pay its business expenses in
accordance with its budget, subject to a 10% variance.
The budget projects total operational expenses of $161,859.48 for
September.
First Citizens Bank & Trust Co. and five other creditors hold
UCC-perfected security interests.
As protection for the Debtor's use of their cash collateral,
secured creditors will be granted a replacement lien on the
Debtor's post-petition property to the same extent and with the
same validity and priority as their pre-bankruptcy lien.
In addition, the Debtor must make $1,500 monthly adequate
protection payment to First-Citizens Bank & Trust.
The Debtor must maintain insurance of its property, with First
Citizens listed as loss payee.
The next hearing is scheduled for September 30.
About Finley Design P.A.
Finley Design P.A., doing business as Finley Design PA Architecture
+ Interiors, provides architectural, interior, and master planning
services for retail, office, medical, mixed-use, residential, and
environmental design projects. The firm focuses on client-centered
solutions, offering design leadership and project execution across
various commercial and residential sectors.
Finley Design sought relief under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. E.D.N.C. Case No. 25-02252) on June 2, 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 Pamela W. Mcafee oversees the case.
The Debtor is represented by:
Philip Sasser
Sasser Law Firm
Tel: 919-319-7400
Email: philip@sasserbankruptcy.com
FIRST WAY: Amends Unsecured Claims Pay Details
----------------------------------------------
First Way, Inc., submitted a Final Subchapter V Plan of
Reorganization dated August 29, 2025.
Since the Petition Date, First Way, Inc. has continued to operate
its business and manage its assets as a debtor-in-possession in
accordance with its duties and responsibilities under the
Bankruptcy Code.
Class 17 consists of all Allowed General Unsecured Claims against
the Debtor. The Debtor's projected Disposable Income is $56,405.40
as set forth in the Projected Feasibility Analysis. In full
satisfaction of the Allowed Class 17 General Unsecured Claims,
Holders of Class 17 Claims shall receive a pro rata share of
Distributions equivalent to the Debtor's Disposable Income plus
$1,000.00 to account for certain expenditures paid by the Debtor
during the pendency of the Bankruptcy Case, which payments shall
commence on the 14th day following the Effective Date.
In a liquidation scenario, the value received by holders of Allowed
Class 17 Claims would be $0.00 as attached hereto as Debtor's
equipment and personal property is fully encumbered. The maximum
Distribution to Class 17 Claimholders shall be equal to the total
amount of all Allowed Class 17 General Unsecured Claims. Class 17
is Impaired.
Class 18 consists of all equity interests in First Way, Inc. Class
Interest Holders shall retain their respective Interests in First
Way Inc. in the same proportionssuch Interests were held as of the
Petition Date (i.e., 100.00% Interest retained by Mr. Iulian
Cosiuc). Class 18 is Unimpaired.
The Plan contemplates the Debtor will continue to manage and
operate its business in the ordinary course, but with restructured
debt obligations. It is anticipated the Debtor's postconfirmation
business will mainly involve continued operation of its freight
hauling business, the income from which will be committed to make
the Plan Payments to the extent necessary.
Funds generated from the Debtor's operations through the Effective
Date will be used for Plan Payments; however, the Debtor's cash on
hand as of Confirmation will be available for payment of
Administrative Expenses.
The management and operations of the Debtor will continue to be
overseen by the Debtor's current President, Mr. Iulian Cosiuc, who
will continue to cultivate the Debtor's existing business and
continue management of the Debtor's freight hauling business. The
powers of Mr. Cosiuc as it pertains to the Reorganized Debtor shall
be substantially the same as they were prior to the Petition Date.
A full-text copy of the Final Subchapter V Plan dated August 29,
2025 is available at https://urlcurt.com/u?l=F7TLLO from
PacerMonitor.com at no charge.
Counsel to the Debtor:
Daniel A. Velasquez, Esq.
Latham, Luna, Eden & Beaudine, LLP
201 S. Orange Ave., Suite 1400
Orlando, FL 32801
Telephone: (407) 481-5800
Facsimile: (407) 481-5801
Email: dvelasquez@lathamluna.com
About First Way Inc.
First Way, Inc., is a transportation and logistics company
specializing in flatbed, step-deck, reefer conestoga, and dry van
services. Founded in 2014, the company provides reliable freight
solutions using skilled drivers and late-model equipment.
First Way sought relief under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. M.D. Fla. Case No. 25-01963) on April 4, 2025. In its
petition, the Debtor reported up to $50,000 in assets and between
$1 million and $10 million in liabilities.
Judge Lori V. Vaughan handles the case.
The Debtor is represented by Daniel A. Velasquez, Esq., at Latham,
Luna, Eden & Beaudine, LLP.
FISCHER AG: Files Emergency Bid to Use Cash Collateral
------------------------------------------------------
Fischer AG, LLC and affiliates ask the U.S. Bankruptcy Court for
the Eastern District of Missouri, Northern Division, for authority
to use cash collateral and provide adequate protection.
The Debtors need to use cash collateral to continue their farming,
trucking, and construction operations. The Debtors currently earn
around $20,000 monthly net profit and estimate they will need about
$440,000 over the next four months for essential expenses like
fuel, rent, payroll, and insurance.
The Debtors acknowledge alleged secured claims by First State
Community Bank (FSCB), Hawthorne Bank, and the Internal Revenue
Service, although they dispute the amounts and validity of some
liens, especially the IRS' pre-petition tax liens and FSCB's
interest in crop proceeds. They argue that FSCB's security interest
did not survive the bankruptcy filing under 11 U.S.C. ?? 552(a).
To satisfy 11 U.S.C. section 363(c)(2), the Debtors propose to
provide adequate protection to secured creditors by granting
replacement liens on post-petition assets to the extent of any
decline in the value of pre-petition collateral. The Debtors
believe this satisfies legal requirements and does not prejudice
any creditor. They request interim approval to use cash collateral
immediately and seek a final hearing later.
A hearing on the matter is set for September 11.
About Fischer AG LLC
Fischer AG, LLC, doing business as Fischer Trucking, provides
interstate freight transportation services. The company hauls
general freight, agricultural products, dry bulk commodities, and
metal goods. It operates from Missouri with a small fleet serving
regional and interstate routes.
Fischer AG sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Miss. Case No. 25-20127) on July 30,
2025, with $2,643,600 in assets and $2,420,098 in liabilities.
Chris Fischer, owner, signed the petition.
Judge Kathy A. Surratt-States oversees the case.
David M. Dare, Esq., at Herren, Dare & Streett represents the
Debtor as legal counsel.
FLOWER APARTMENTS: Hires Alexander Valuation Group as Appraiser
---------------------------------------------------------------
Flower Apartments, LLC seeks approval from the U.S. Bankruptcy
Court for the Central District of California to employ Alexander
Valuation Group as real estate appraiser.
The firm will prepare a valuation report of its real property
located at 1420 S Flower St, Los Angeles, CA 90015.
Alexander Valuation will receive a flat fee of $2,500 for the
preparation of the appraisal report.
As disclosed in the court filings, Alexander Valuation Group does
not hold or represent any interest materially adverse to the
interests of the estate or any class of creditors or equity
security holders.
The firm can be reached through:
Jack Alexander
Alexander Valuation Group
200 S. Pacific Coast Highway
Redondo Beach, CA 90277
Phone: (310) 545-8700
About Flower Apartments, LLC
Flower Apartments, LLC is a Los Angeles-based real estate company
that appears to own or operate an apartment property located at
1420 S. Flower Street in downtown Los Angeles.
Flower Apartments sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. C.D. Calif. Case No. 25-15724) on July 7,
2025. In its petition, the Debtor reported estimated assets and
liabilities between $1 million and $10 million.
Judge Julia W. Brand handles the case.
The Debtor is represented by Matthew D. Resnik, Esq., at Rhm Law,
LLP.
FLUENT INC: Phillip Frost, Trust Hold 28.3% Stake
-------------------------------------------------
Phillip Frost, M.D. and Frost Gamma Investments Trust, disclosed in
a Schedule 13D (Amendment No. 26) filed with the U.S. Securities
and Exchange Commission that as of August 19, 2025, they
beneficially own 7,302,737 shares of Fluent, Inc.'s common stock,
par value $0.0005 per share, representing approximately 28.3% of
the 24,268,299 shares outstanding as reported in the Company's Form
10-Q filed on August 19, 2025. The shares include those underlying
a convertible note, warrants issued on May 19, 2025, and
unregistered pre-funded warrants issued on August 19, 2025.
Phillip Frost, M.D. and Frost Gamma Investments Trust may be
reached through:
Daniel Barsky, Esq.
300 Vesey Street, 9th Floor
New York, N.Y. 10282
Phone: (646) 669-7272
A full-text copy of Phillip Frost's SEC report is available at:
https://tinyurl.com/7f2j3yu9
About Fluent Inc.
Fluent, Inc. -- https://www.fluentco.com -- Fluent, Inc. provides
commerce media solutions that connect brands with consumers through
customer acquisition and digital marketing campaigns. The Company
utilizes proprietary machine learning, first-party data, and
diverse ad inventory across partner ecosystems and owned sites.
Headquartered in the U.S., Fluent has operated in the performance
marketing sector since 2010.
The Company warned in its quarterly report for the period ended
March 31, 2025, that it may adopt cost-cutting measures if it
cannot raise sufficient capital to support operations. Management
said there is substantial doubt about its ability to continue as a
going concern for the 12 months following the report's issuance.
New York, New York-based Grant Thornton LLP issued a "going
concern" qualification in its report dated March 31, 2025, citing
that as of Dec. 31, 2024, the Company was not in compliance with
financial covenants of the SLR Credit Agreement. On March 10,
2025, the Company entered into the Fourth Amendment to the SLR
Credit Agreement, which among other things, waived the
non-compliance with the financial covenants as of Dec. 31, 2024.
The Company's business plan for 2025, contemplates reduced
operating losses, maintaining compliance with the revised financial
covenants under the SLR Credit Agreement and obtaining additional
working capital. The Company's ability to achieve the foregoing
elements of its business plan and maintaining compliance with its
financial covenants is uncertain and raises substantial doubt about
its ability to continue as a going concern.
FREE SPEECH: Alex Jones Takes $1B Sandy Hook Judgment to S.C.
-------------------------------------------------------------
James Nani of Bloomberg Law reports that right-wing commentator
Alex Jones is seeking US Supreme Court review of the $1.4 billion
Connecticut judgment holding him and Infowars liable for falsely
portraying the Sandy Hook school massacre as a hoax.
His lawyers, in a September 5, 2025 filing, said the 2022 default
judgment based on "minor" discovery issues imposed a
disproportionate penalty, according to the report. The petition
contends the ruling conflicts with constitutional standards
established under New York Times v. Sullivan.
About Free Speech Systems
Free Speech Systems LLC is a broadcast media production and
distribution company that provides broadcasting aural programs by
radio to the public. Free Speech Systems is a family-run business
founded by Alex Jones.
FSS is presently engaged in the business of producing and
syndicating Jones' radio and video talk shows and selling products
targeted to Jones' loyal fan base via the Internet. Today, FSS
produces Alex Jones' syndicated news/talk show (The Alex Jones
Show) from Austin, Texas, which airs via the Genesis Communications
Network on over 100 radio stations across the United States and
via the internet through websites including Infowars.com.
Due to the content of Alex Jones' shows, Jones and FSS have faced
an all-out ban of Infowars from mainstream online spaces. Shunning
from financial institutions and banning Jones and FSS from major
tech companies began in 2018.
Conspiracy theorist Alex Jones has been sued by victims' family
members over Jones' lies that the 2012 Sandy Hook Elementary School
shooting was a hoax.
Jones' InfoW LLC and affiliates, IWHealth, LLC and Prison Planet
TV, LLC, filed petitions under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 22-60020) on April
18, 2022.
FRONTIER ENERGY: Public Sale Auction Set fro Sept. 11, 2025
-----------------------------------------------------------
MRP Trading I A LLC ("Secured Party") will conduct, though its
counsel, Greenberg Traurig, LLP ("Greenberg Traurig"), on Sept. 11,
2025, at 10:00 a.m. CST or such later date and time ("Auction
Date"), a disposition of the collateral of Frontier Energy Group,
Inc.; Canary Drilling Services, LLC; Canary Production Services,
LLC; Canary Wellhead Equipment, Inc.; Canary Wellhead
Manufacturing, Inc. ("Borrower Affiliates") by public sale.
To participate in the auction, you must comply with the
Participation Requirements by 4:00 p.m. CST on Sept. 8, 2025
("Qualification Deadline"). To participate in the Auction and
obtain admittance to the Video Platform, before the Qualification
Deadline, each prospective bidder must contact the Secured Party at
fiscom@gtlaw.com and howee@gtlaw.com and provide (i) current
contact information, including a mailing address, telephone number,
and email address; (ii) such adequate assurances of the bidder's
ability to perform as the Secured Party may reasonably request;
(iii) an agreement by the bidder, for itself and its
representatives, that the Auction may be recorded; and (iv) a sale
deposit of $1,000,000, which must be increased to 25% of the
successful bid by the successful bidder within 24 hours after the
conclusion of the Auction ("Sale Deposit") by bank wire transfer,
certified or cashier's check, or other form of payment that the
Secured Party may agree to in writing.
The Borrower and Borrower Affiliates are obligated to the Secured
Party pursuant to, among other loan documents, that certain Second
Amended and Restated Revolving Credit and Term Credit Agreement
dated as of March 1, 2019 ("Credit Agreement"). The Borrower and
Borrower Affiliates granted to the Secured Party a security
interest in substantially all of their assets to secure the
Obligations pursuant to an Amended and Restated Pledged and
Security Agreement, dated as of Dec. 28, 2012 ("Security
Agreement").
If you seek any additional information regarding the Auction or the
Property, please contact legal counsel for the Secured Party,
Greenberg Traurig, at: Michael Fisco (612-259-9710;
fiscom@gtlaw.com) and Eric Howe (612-259-9716; howee@gtlaw.com).
Greenberg Traurig LLP
90 South 7th Street, Suite 3500
Minneapolis, MN 55402
Frontier Energy Group Inc operates a wellhead company providing
oilfield drilling, production, and manufacturing services.
FRUGALITY INC: Unsecured Creditors to Split $12K in Plan
--------------------------------------------------------
Frugality, Inc. filed with the U.S. Bankruptcy Court for the
Northern District of Florida an Amended Plan of Reorganization
dated August 29, 2025.
The Debtor operates as an e-commerce business that sells goods
online and sells its own private label brands.
The Debtor filed this case in an attempt to reorganize its business
affairs. Slower than typical sales, coupled with its owner's
serious health issues that he experienced in early 2024 led to the
Debtor taking out high interest merchant cash advance loans that
crippled the Debtor???s cash flow.
While the Debtor has experienced financial issues, the Debtor
strongly believes there is a path to a successful reorganization in
this case. The Debtor believes its cashflow has begun to stabilize
which will allow it to make the proposed payments under the plan.
The income from the Debtor's business will fund this Plan.
This Plan of Reorganization proposes to pay creditors of the Debtor
out of cash flow from the normal operations of the Debtor's
business. The Sole-owner of the Debtor, Wayne English, will remain
in that role post-confirmation.
This Plan provides for the payment of one class of secured claims,
one class of general unsecured claims, and one class of equity
security holders. This Plan provides for the payment of
administrative and priority claims in full.
Class 2 consists of General Unsecured Claims. The class of general
unsecured claims shall receive a total dividend of $12,000 paid
pro-rata amongst the creditors in this class. Installment payments
(to be distributed pro rata) in the amount of $1,000.00 shall
commence on the fifteenth day of the month, on the first month that
begins more than thirty days after the Effective Date and shall
continue every ninety days thereafter for eleven additional
payments. This Class is impaired.
Creditors with general unsecured claims include: JPMorgan Chase
Bank: N.A.: $96,429.88; American Express National Bank:
$134,148.10; U.S. Bank National Association: $3,779.81; Vivian
Capital Group, LLC: $37,817.45; 8Fig, Inc.: $43,933.20; Fox Funding
Group: $35,587.71; Uline: $455.47; Bizfund LLC: $37,430.00;
Lendocity: $15,238.90; Stenn Assets USA Inc.: $8,252.21; Bank of
America: $8,839.67; Capital on Tap: $10,324.81; Capital One:
$18,124.80; Dell Financial Services: $1,414.49; First National Bank
of Omaha: $13,818.19; and Regions Bank: $14,759.56.
Class 3 consists of Equity Security Holder Wayne English. Post
confirmation, the equity security holder will continue to receive
the monthly salary that was approved by the Court during this
case.
The Debtor shall fund its Plan from the continued operations of its
business. Unless otherwise ordered by the Court, the Debtor will
make the payments under this Plan, rather than the Subchapter V
Trustee.
A full-text copy of the Amended Plan dated August 29, 2025 is
available at https://urlcurt.com/u?l=Ja7oE9 from PacerMonitor.com
at no charge.
Counsel to the Debtor:
Bryon Wright III, Esq.
Bruner Wright, P.A.
2868 Remington Green Circle, Suite B
Tallahassee, FL 32308
Telephone: (850) 385-0342
Facsimile: (850) 270-2441
Email: twright@brunerwright.com
About Frugality Inc.
Frugality Inc. sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Fla. Case No. 25-30177) on March 3,
2025, with $100,001 to $500,000 in assets and $500,001 to $1
million in liabilities.
Judge Jerry C. Oldshue Jr. presides over the case.
Byron Wright, III, at Bruner Wright, P.A., is the Debtor's legal
counsel.
BayFirst National Bank, as secured creditor, is represented by:
Douglas A. Bates, Esq.
Clark Partington
125 East Intendencia Street, 4th Floor
Pensacola, FL 32502
Phone: (850) 434-9200
Fax: (850) 432-7340
dbates@clarkpartington.com
FULL STANDARD: Seeks to Tap Farsad Law Office as Bankruptcy Counsel
-------------------------------------------------------------------
Full Standard Properties, LLC seeks approval from the U.S.
Bankruptcy Court for the Northern District of California to employ
Farsad Law Office, PC as counsel.
The firm will render these services:
(a) advise the Debtor on bankruptcy duties, strategy, and
compliance;
(b) prepare and file schedules, statements, pleadings, and the
reorganization plan;
(c) represent the Debtor at hearings, in negotiations with
creditors, and before the U.S. Trustee; and
(d) draft and respond to motions, objections, and applications
as required.
The firm will be paid at these hourly rates:
Arasto Farsad, Partner $400
Nancy Weng, Partner $400
Paralegals $100
In addition, the firm will seek reimbursement for expenses
incurred.
The firm received a total retainer of $41,738 from the Debtor.
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, Suite 525
San Jose, CA 95126
Telephone: (408) 641-9966
Facsimile: (408) 866-7334
Email: af@farsadlaw.com
About Full Standard Properties
Full Standard Properties LLC is a real estate company based in San
Jose, California that owns and manages commercial properties in the
area, with its principal assets located at 60 & 70 S. Almaden Ave.
Full Standard Properties LLC relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Cal. Case No. 25-51089) on July 18,
2025. In its petition, the Debtor reports estimated assets and
liabilities between $10 million and $50 million each.
The Debtor is represented by Arasto Farsad, Esq., at Farsad Law
Office, P.C.
GEON PERFORMANCE: S&P Alters Outlook to Negative, Affirms 'B' ICR
-----------------------------------------------------------------
S&P Global Ratings revised its rating outlook on Geon Performance
Solutions LLC to negative from stable and affirmed its 'B' issuer
credit rating on the company as well as its 'B+' issue-level rating
on the senior secured credit facility.
The negative outlook reflects S&P's belief that there is at least
one in three chance end market demand softness persists, which
could lead to earnings and margin declines and a weighted-average
debt to EBITDA exceeding 6.5x.
Demand uncertainty continues to dampen Geon's earnings. Geon's
legacy business has been facing challenging market conditions. The
macroeconomic environment for key end markets and tariff-related
uncertainties are dampening customer demand. The U.S. housing and
auto markets remain weak, hampered by a relatively high-interest
rate environment. The company also operates in the industrials and
power and communications end markets, which depend on overall
economic health. These uncertainties have led to the last-12-month
(LTM) debt leverage hovering close to 6.5x for the past four
consecutive quarters. While the company has maintained its EBITDA
margins with help of various internal initiatives and contribution
from the acquired Foster Corp.'s earnings, S&P believes a recovery
in the back half of 2025 appears unlikely and we anticipate the
debt leverage will slightly exceed 6.5x in 2025.
S&P said, "Our assessment of Geon's financial risk profile reflects
its highly leveraged credit metrics and financial-sponsor
ownership. We anticipate Geon's credit metrics will remain in line
with this assessment, including weighted-average debt to EBITDA of
6x-7x over the next 12-24 months. The company's ownership by
financial sponsor SK Capital could lead to aggressive financial
policies, given SK Capital completed a debt-funded dividend during
its first two years of owning Geon.
"Despite the near-term earnings challenges, we anticipate the
company to generate positive free cash flow. Geon's capital
expenditure (capex) lite model and efficient working capital
management helps generate positive free operating cash flow (FOCF)
and maintain adequate liquidity. The company funded the Foster
acquisition primarily with cash on hand and we believe it will
continue to maintain an adequate liquidity position, including its
undrawn credit facility and favorable debt maturity profile. The
company recently extended the maturity of the revolver until
February 2028, and thus the only near-term maturities are primarily
its modest debt amortization each year.
"The Foster acquisition helps improve end-market diversity. Geon's
foray into the health care sector will help somewhat offset the
challenges it is facing in its legacy business. We view the health
care sector as relatively more stable than the other end markets
the company operates in and it tends to command higher EBITDA
margins. We expect the company could look to build a larger
presence in the health care sector as it continues to look to
supplement organic growth with acquisitions.
"The negative outlook reflects our expectation that pro-forma S&P
Global Ratings-adjusted debt to EBITDA will hover around 6.5x in
the near term driven by demand weakness in key end markets like
housing and autos. We anticipate the demand downturn will last
longer without any near-term impetus, like interest rate cuts, to
improve the macroeconomic environment and consumer confidence.
While the company is trying to shift its focus toward less cyclical
end markets like health care, the majority of its earnings will
still depend on housing, transportation, and consumer. We also
believe that despite this down cycle, the company will be able to
generate positive FOCF, which supports adequate liquidity."
S&P could consider a downgrade over the next 12 months if:
-- Its pro-forma weighted average S&P Global Ratings-adjusted
debt/EBITDA deteriorates to above 6.5x without any prospects of
near-term improvement. This situation may arise if the
macroeconomic landscape weakens further leading to decline in
demand for the company's products???especially in the cyclical
housing sector, if recent acquisitions underperform S&P's
expectations, or if there is a rise in raw material costs that the
company cannot pass on to its customers. Under such a scenario, S&P
assumes Geon's EBITDA margins would decline by 100 basis points
(bps) relative to our base-case expectation;
-- S&P believes the company's financial policy will no longer
support its current credit quality. This could occur if Geon
undertakes a large debt-funded acquisition or dividend
recapitalization that stretches its credit metrics; or
-- The company's liquidity position weakens such that S&P no
longer anticipate its sources will be above 1.2x its uses.
S&P said, "We could consider a positive rating action, including
revising the outlook to stable, if the company's operating
performance improves such that its pro-forma S&P Global
Ratings-adjusted debt to EBITDA strengthens below 6x on a sustained
basis. This could occur if the EBITDA margins improve at least 100
bps relative to our base-case expectation. This would occur as
demand for company's higher margin product volumes increases with
better customer confidence levels and a possible reduction in
benchmark interest rates, which could spur growth in interest rate
sensitive end markets of housing, industrial, and automotives. We
could also consider a positive rating action if company is able to
increase its exposure to less cyclical medical end market, without
stretching debt leverage."
GLASS MANAGEMENT: Court Extends Cash Collateral Access to Sept. 24
------------------------------------------------------------------
Glass Management Services, Inc. received another extension from the
U.S. Bankruptcy Court for the Northern District of Illinois to use
the cash collateral of Old National Bank.
The Debtor was authorized to use cash collateral until September 24
to pay the expenses set forth in its budget, plus an amount not to
exceed 10% for each line item
The Debtor projects total operational expenses of $201,292.61.
Old National Bank's interest in the assets will be protected by
replacement liens on post-petition assets, according to the interim
order penned by Judge Janet Baer.
The bank will also be granted a superpriority administrative
expense claim in case of diminution in value of its collateral and
will continue to receive monthly payments of $30,000 from the
Debtor, which the bank can automatically debit from the Debtor's
account. The monthly payments started in December last year.
As further protection, the Debtor was ordered to keep the bank's
collateral insured.
The next hearing is scheduled for September 24.
Old National Bank is the holder of two loans made to the Debtor.
The loans are secured by a first priority security interest over
all business assets of the Debtor granted to the bank.
As of September 25, 2024, the balance due in the aggregate against
each of the loans was not less than $4,046,480.56.
About Glass Management
Glass Management Services, Inc. is a construction contractor based
in Illinois, specializing in glazing services. Established with a
focus on high-profile projects, the company has been involved in
significant developments, including the Obama Presidential Library,
Terminal 5 at O'Hare Airport, and multiple Chicago Public Schools
and CTA transit stations.
Glass Management Services sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 24-14036) with
$3,029,997 in assets and $11,989,444 in liabilities. Ernest B.
Edwards, president of Glass Management Services, signed the
petition.
Judge Janet S. Baer presides the case.
David P. Leibowitz, Esq., at Leibowitz, Hiltz & Zanzig, LLC is the
Debtor's legal counsel.
Old National Bank, as secured creditor, is represented by:
Adam B. Rome, Esq.
Greiman, Rome, & Griesmeyer, LLC
205 W. Randolph St., Ste. 2300
Chicago, IL 60606
Phone: 312-428-2750
arome@grglegal.com
GLOBAL CHOICE: Seeks to Hire Orville & McDonald Law as Attorney
---------------------------------------------------------------
Global Choice Ventures LLC seeks approval from the U.S. Bankruptcy
Court for the Northern District of New York to hire Orville &
McDonald Law, P.C. as attorneys.
The firm will render these services:
a. give the Debtor legal advice with respect to their powers
and duties as Debtor-in Possession in the continued operation of
its business and in the management of their property;
b. take necessary action to avoid liens against Debtor's
property, remove restraints against Debtor's property and such
other actions to remove any encumbrances or liens which are
avoidable, which were placed against the property of the Debtor
prior to the filing of the Petition instituting this proceeding and
at a time when the Debtor was insolvent;
c. take necessary action to enjoin and stay until final decree
any attempts by secured creditors to enforce liens upon property of
the Debtor's in which property Debtor has substantial equity;
d. represent the Debtor in any proceedings which may be
instituted in this Court by creditors or other parties during the
course of this proceeding;
e. prepare necessary petitions, answers, orders, reports and
other legal papers;
f. perform all other legal services for Debtor as Debtor- in-
Possession or to employ attorneys for such services.
The firm will be paid at these hourly rates:
Peter Orville, Attorney $350
Zachary McDonald, Attorney $300
Non-Lawyer Staff $125
In addition, the firm will seek reimbursement for expenses
incurred.
The firm requested a retainer in the amount of $8,262 from the
Debtor.
Mr. Orville 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 A. Orville, Esq.
Orville & McDonald Law PC
30 Riverside Dr.
Binghamton, NY 13905
Telephone: (607) 770-1007
About Global Choice Ventures LLC
Global Choice Ventures LLC operates in the real estate sector under
NAICS code 5313.
Global Choice Ventures LLC sought relief under Subchapter V of
Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D.N.Y. Case No.
25-30689) on August 22, 2025. In its petition, the Debtor reports
estimated assets and liabilities between $100,000 and $500,000.
The Debtor is represented by Peter A. Orville, Esq. at Orville &
McDonald Law, P.C.
GREENWAVE TECHNOLOGY: Gets Nasdaq Notice for Delayed Q1-Q2 Filings
------------------------------------------------------------------
As previously disclosed on the Current Report on Form 8-K of
Greenwave Technology Solutions, Inc. filed on May 30, 2025, the
Company received a notice from the Listing Qualifications
Department of the Nasdaq Stock Market LLC regarding the Company's
failure to timely file its Quarterly Report on Form 10-Q for the
fiscal quarter ended March 31, 2025 with the U.S. Securities and
Exchange Commission. The Company previously submitted a plan to
Nasdaq to regain compliance with respect to the delinquent Q1 Form
10-Q, and Nasdaq granted the Company an exception until August 22,
2025, to evidence compliance with Nasdaq Listing Rule 5250(c)(1)
(the "Rule").
On August 22, 2025, the Company received an additional delinquency
notification letter from Nasdaq due to the Company's failure to
timely file its Quarterly Report on Form 10-Q for the fiscal
quarter ended June 30, 2025.
The Staff informed the Company that it has to submit an updated
plan to regain compliance with the Rule. If the Staff accepts the
Company's revised plan to regain compliance, then it may grant the
Company an exception of up to 180 calendar days from the Q1 Form
10-Q's due date, or until November 17, 2025.
The Company, by filing its Form 8-K dated August 26, 2025, with the
U.S. Securities and Exchange Commission, discloses its receipt of
the notification from Nasdaq in accordance with Nasdaq Listing Rule
5810(b).
Neither the Notice nor the Company's non-compliance with the Rule
has an immediate effect on the listing or trading of the Company's
securities on Nasdaq, which will continue to trade on The Nasdaq
Capital Market under the symbol "GWAV."
The Company continues to work diligently to complete and file the
Delinquent Filings with the SEC and thereby regain compliance with
the Rule as soon as practicable.
About Greenwave
As an operator of 13 metal recycling facilities, Greenwave
Technology Solutions, Inc. (Nasdaq: GWAV) supplies leading steel
mills and industrial conglomerates with ferrous and non-ferrous
metal. With steel being one of the most recycled materials
worldwide, Greenwave supplies the raw metal utilized in critical
infrastructure projects and U.S. warships vital to American
national security interests. Headquartered in Chesapeake, VA, the
Company has 167 employees with metal recycling operations across
Virginia, North Carolina, and Ohio. For detailed financials and
updates, visit www.GWAV.com.
New York, N.Y.-based RBSM LLP, the Company's auditor since 2020,
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 December 31, 2024, citing that the Company has net
loss, has generated negative cash flows from operating activities,
and has an accumulated deficit, which raise substantial doubt about
the Company's ability to continue as a going concern.
As of Dec. 31, 2024, the Company had $63,087,617 in total assets,
$26,132,634 in total liabilities, and a total stockholders' equity
of $36,954,983.
GULF STATES: William Harris Named Subchapter V Trustee
------------------------------------------------------
Mark Zimlich, the U.S. Bankruptcy Administrator for the Southern
District of Alabama, appointed William H. Harris as Subchapter V
trustee for Gulf States Performance, LLC.
About Gulf States Performance
Gulf States Performance, LLC, doing business as Floyd's
Performance, provides automotive repair and performance upgrade
services, including custom exhaust work and fleet maintenance. The
Company serves individual vehicle owners and local businesses in
Baldwin County.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Ala. Case No. 25-12354) on September
2, 2025, with $100,000 to $500,000 in assets and $1 million to $10
million in liabilities. Mark Jones, president, signed the
petition.
Jodi Daniel Dubose, Esq., at Stichter, Riedel, Blain, & Postler
P.A. represents the Debtor as legal counsel.
GUNNISON VALLEY: Seeks to Hire Bluebird Real Estate as Broker
-------------------------------------------------------------
Gunnison Valley Properties, LLC, seeks approval from the U.S.
Bankruptcy Court for the District of Colorado to hire Bluebird Real
Estate as real estate broker.
The firm will market and sell the Debtor's property located at
43110 US Highway 50 Gunnison, CO 81230.
In January 2025, Bluebird assisted Debtor with the negotiation and
execution of a Contract to Buy and Sell Real Estate (Land) with
Rocking J Lazy K LLC.
The Debtor executes a Listing Contract Amend/Extend, which would
extend Bluebird's exclusive right to market and sell the Project by
45 days, through October 15, 2025.
Bluebird will be entitled to a commission of 6 percent of the gross
purchase price, to be split equally between Bluebird and a buyer's
agent, inclusive of out-of-pocket expenses.
Bluebird is disinterested, as that term is defined in 11 U.S.C.
Sec. 101(14), according to court filings.
The firm can be reached through:
Brian Cooper
The Brian Cooper Team
Bluebird Real Estate
218 N Main St
Gunnison, CO 81230
Phone: (970) 275-8022
Email: brian@bbre1.com
About Gunnison Valley Properties
Gunnison Valley Properties LLC in Louisville, Colo., sought relief
under Chapter 11 of the Bankruptcy Code (Bankr. D. Colo. Case No.
24-15052) on Aug. 28, 2024, listing $50 million to $100 million in
assets and $10 million to $50 million in liabilities. Byron
Chrisman, manager, signed the petition.
Judge Joseph G. Rosania Jr. oversees the case.
Onsager | Fletcher | Johnson | Palmer LLC serves as the Debtor's
legal counsel.
HARVEY CEMENT: Gets Two-Month Extension to Use Cash Collateral
--------------------------------------------------------------
Harvey Cement Products Incorporated received interim approval from
the U.S. Bankruptcy Court for the Northern District of Illinois,
Eastern Division, to use cash collateral until October 31, marking
the fifth extension since its Chapter 11 filing.
The fifth interim order authorized the Debtor to use the cash
collateral of its secured creditors, Old National Bank and the U.S.
Small Business Administration from August 31 through October 31 to
pay the expenses set forth in its budget, plus a 10% variance.
As protection, SBA and Old National Bank were granted replacement
liens on all of the Debtor's property whether acquired before or
after the bankruptcy filing. In addition, Harvey was ordered to
keep the secured creditors' collateral insured.
The next hearing is scheduled for October 28. Objections are due by
October 21.
A copy of the court's order and the Debtor's budget is available at
https://shorturl.at/NEt5Y from PacerMonitor.com.
Old National Bank is represented by:
Kristopher A. Capadona, Esq.
Grogan Hesse & Uditsky, P.C.
2 Mid America Plaza, Suite 100
Oakbrook Terrace, IL 60181
Telephone: (630) 359-8197
kcapadona@ghulaw.com
About Harvey Cement Products Incorporated
Founded in 1947, Harvey Cement Products Incorporated has grown over
the years to be one of the leading manufacturers of over 200
varieties and sizes of masonry products and is able to deliver
customer orders to virtually any job site in the contiguous United
States.
Harvey filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. N.D. Ill. Case No. 24-18335) on December 5,
2024, listing between $1 million and $10 million in both assets and
liabilities. Gordon Steck, vice president of Harvey, signed the
petition.
Judge Jacqueline P. Cox handles the case.
The Debtor is represented by Scott R. Clar, Esq., at Crane, Simon,
Clar & Goodman.
HOME FURNISHINGS: Shuts Down, Holds Going Out of Business Sale
--------------------------------------------------------------
Daniel Kline of The Street reports that Connecticut Home
Furnishings, a staple in West Hartford's retail scene for 41 years,
is shutting down operations.
The news was announced via Facebook and reinforced on the company's
website, where a banner now reads, "We Are Going Out of Business,"
according to the report.
The store kicked off its liquidation sale on September 4, 2025
urging shoppers to take advantage of immediate availability on all
remaining stock. Customers can take items home the same day or
arrange quick delivery. The company also moved to calm concerns by
confirming that pending orders will still be honored.
While the retailer has not set a final closing date, owner Tom Hall
said the decision marks his retirement. He expressed gratitude to
the community, crediting its support for the store's decades-long
success.
The closure follows a broader trend of challenges facing
independent home furnishing retailers, as rising costs and changing
consumer habits reshape the marketplace.
About Connecticut Home Furnishings
Connecticut Home Furnishings is a furniture store in Hartford,
Connecticut.
HOYA MIDCO: S&P Downgrades ICR to 'B-' on Elevated Competition
--------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on Hoya Midco
LLC (dba Vivid Seats) two notches to 'B-' from 'B+'.
S&P also revised its recovery rating to '3' from '2' and lowered
its issue-level rating on Hoya Midco's senior secured debt to 'B-'
from 'BB-' to reflect lower recovery prospects and lower valuation
in the simulated event of default.
The negative outlook reflects the risk that elevated competition in
the secondary ticketing market could suppress Vivid Seats' earnings
for a prolonged period, pressuring liquidity over the next 12-18
months.
The two-notch downgrade reflects Vivid Seats' shrinking market
share. The decline comes amid structural challenges in the
secondary ticket market, a key distribution channel for live events
with high competition, low barriers to entry, and limited
differentiation in products. This results in secondary ticket
companies such as Vivid Seats, StubHub, and Live Nation's
Ticketmaster spending aggressively on performance and brand
marketing to capture market share by raising brand awareness and
acquiring customer traffic to drive transactional activity onto its
respective marketplace platform. For example, StubHub raised its
percentage of sales and marketing to revenue to 47% in 2024 from
38% in 2023. S&P expects a further increase to 55% in 2025 as
StubHub's aggressive marketing spending in paid digital search has
persisted longer than expected.
Vivid Seats allocated roughly 40% of its revenue to sales and
marketing in 2024, which we expect to remain flat in 2025. While
this can help preserve healthy profitability in the short term, it
comes at the expense of losing volume. As a result, we expect Vivid
Seats' gross order value (GOV) and revenue to decline 25%-30% in
2025 as it faces market share losses. S&P also forecasts EBITDA
margins to decline to 7%-8% in 2025 from 15.6% in 2024, accounting
for software development costs that it deducts in its calculation
of EBITDA.
Macroeconomic concerns, unfavorable comps, and regulatory changes
also contribute to underperformance. S&P said, "We believe consumer
discretionary spending on concerts and sports has moderated from a
post-pandemic boom due to elevated ticket prices in a high-interest
rate environment. Offsetting a strong 2025 events calendar in
stadium concert touring is a weaker sporting events schedule than
in 2024. Furthermore, conversion rates among consumers have
declined as the live events industry implemented the U.S. Federal
Trade Commission's mandatory all-in pricing effective May 12, 2025,
to ensure price visibility. While we believe this creates more of a
temporary rather than permanent contraction in live events, the
volatility in live events can hurt Vivid Seats' performance in
2025."
A recovery to Vivid Seats' earnings remains uncertain. Although
Vivid Seats has sufficient liquidity to fund significant cash
deficits, cash flow recovery is limited and uncertain. S&P said,
"We believe unfavorable working capital dynamics associated with
GOV declines will drag on cash flow in 2025 as payouts to ticket
sellers offset cash collection from lower ticket sales. We forecast
Vivid Seats will burn $60 million-$70 million of free operating
cash flow (FOCF) in 2025. We view Vivid Seats' liquidity as
adequate, supported by the company's long dated maturity profile,
$153 million cash balance, and full access to its $100 million
revolving credit facility as of June 30, 2025. Nonetheless, it is
unclear how long cash flow deficits will persist if competitive
intensity remains elevated."
S&P said, "While the company recently announced a cost-reduction
program for up to $25 million of annualized savings, we believe
this carries some execution risk and is unlikely to contribute to
positive earnings until 2026. We anticipate the company will
reinvest a substantial portion of these AI-enabled savings to offer
a differentiated value proposition to drive growth. We believe the
company's recent roll-out of a lowest price guarantee in its app
supplements its loyalty rewards program and may lead to some GOV
recovery, with a lower take rate offset by lower marketing expense
on app orders." Further cost reductions may be necessary if
top-line headwinds persist.
Vivid Seats benefits from tailwinds in live events and strong
relationships with professional ticket brokers. S&P expects
stretched consumers will continue to prioritize experiences over
physical goods. Furthermore, as professional sellers represent most
of the secondary online inventory, Vivid Seats' strong
relationships with professional ticket brokers provides a
competitive edge. Its SkyBox ticket management system for
professional sellers makes it easier for brokers to manage large
volumes.
The negative outlook reflects the risk that elevated competition in
the secondary ticketing market could suppress Vivid Seats' earnings
for a prolonged period, pressuring liquidity over the next 12-18
months.
S&P could lower the rating if:
-- Adjusted EBITDA interest coverage declines below 1.5x; and
-- FOCF remains negative on a sustained basis such we anticipate
liquidity challenges.
-- This could result from elevated competition from ticketing
peers, increased macroeconomic challenges, or unsuccessful
execution of the company's recently announced cost-reduction
program and growth initiatives.
S&P could revise the outlook to stable if:
-- Operating performance improves; and
-- The company generates positive cash flow with sufficient
cushion to withstand the volatility of maintaining market share
within the secondary ticketing industry and macroeconomic
uncertainty.
IMSTEM BIOTECHNOLOGY: Case Summary & 12 Unsecured Creditors
-----------------------------------------------------------
Debtor: Imstem Biotechnology, Inc.
400 Farmington Ave
R1808
Farmington, CT 06032
Business Description: ImStem Biotechnology Inc. is a clinical-
stage biopharmaceutical company
headquartered in Farmington, Connecticut,
that develops regenerative and cellular
therapies targeting autoimmune,
degenerative, neurological and rare
diseases. The Company's proprietary
technology generates mesenchymal stem cells
(T-MSC) from human embryonic stem cells
through a trophoblast-like intermediate
stage, enabling scalable, off-the-shelf
allogeneic cell products. ImStem is
advancing its lead candidate in a Phase 1/2a
trial for multiple sclerosis and is also
researching treatments for cerebral
adrenoleukodystrophy and acute respiratory
distress syndrome.
Chapter 11 Petition Date: September 4, 2025
Court: United States Bankruptcy Court
District of Connecticut
Case No.: 25-20929
Judge: Hon. James J Tancredi
Debtor's Counsel: Andrea M. O'Connor, Esq.
SHATZ, SCHWARTZ AND FENTIN, P.C.
1441 Main Street, Suite 1100
Springfield, MA 01103-1450
Tel: (413) 737-1131
Fax: (413) 736 0375
E-mail: aoconnor@ssfpc.com
Total Assets: $280,554
Total Liabilities: $2,692,876
The petition was signed by Dr. Xiaofang Wang as CTO and Vice
President.
A full-text copy of the petition, which includes a list of the
Debtor's 12 unsecured creditors, is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/CJ22R4A/Imstem_Biotechnology_Inc__ctbke-25-20929__0001.0.pdf?mcid=tGE4TAMA
IMSTEM BIOTECHNOLOGY: Seeks Ch. 11 Bankruptcy w/ Over $2.7MM Debt
-----------------------------------------------------------------
Rihem Akkouche of USA Herald reports that a biotech once considered
a rising player in stem cell therapies is now under bankruptcy
protection. ImStem Biotechnology Inc., based in Farmington,
Connecticut, filed for Chapter 11 after reporting liabilities of
more than $2.7 million, most tied to unpaid law firm fees.
Court documents filed Thursday, September 4, 2025, show ImStem owes
$1.5 million to Verrill Dana LLP and $619,000 to Quinn Emanuel
Urquhart & Sullivan LLP, according to the report. The company
listed assets between $100,001 and $500,000, leaving it
significantly underwater. Other creditors include clinical research
firms, a biomedical supplier, a Boston accounting firm, and
American Express.
The filing caps years of litigation between ImStem and Japanese
pharmaceutical giant Astellas. The dispute centered on allegations
that ImStem's founders improperly relied on Astellas's confidential
data to file a stem cell patent. U.S. courts repeatedly ruled in
Astellas's favor, striking the founders' names from one patent and
denying their inventorship claims on two others.
In May 2023, the case was settled, with both sides agreeing to
align patent records across multiple countries. But the heavy costs
of the legal battle left ImStem saddled with debt, forcing it into
Chapter 11 to address creditor claims and restructure.
About Imstem Biotechnology Inc.
Imstem Biotechnology Inc. is a Connecticut-based biotech company
once hailed for pioneering stem cell therapies for multiple
sclerosis.
Imstem Biotechnology Inc. sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D. Conn. Case No. 25-20929) on
September 4, 2025. In its petition, the Debtor reports estimated
assets between $100,000 and $500,000 and estimated liabilities
between $1 million and $10 million.
Honorable Bankruptcy Judge James J. Tancredi handles the case.
The Debtor is represented by Andrea M. O'Connor, Esq. at Shatz,
Schwartz & Fentin, P.C.
INTREX INC: Gets Court OK to Use Cash Collateral Until Sept. 30
---------------------------------------------------------------
Intrex, Inc. received a one-month extension from the U.S.
Bankruptcy Court for the Eastern District of North Carolina,
Raleigh Division, to use cash collateral.
The court authorized the Debtor to use cash collateral from
September 2 to 30 to fund operations in accordance with its
budget.
As adequate protection, the U.S. Small Business Administration will
be granted a post-petition replacement lien on the same assets to
which its lien attached pre-petition, with the same validity,
priority and extent as existed on the petition date.
The court's order will remain in full force and effect until it is
modified by a further order, terminated for cause, or a notice of
default is filed.
Events of default include failure by the Debtor to comply with the
court order; failure to maintain insurance; use of cash collateral
other than as set forth in the order; appointment of an examiner or
a trustee other than the Subchapter V trustee; and the conversion
of the Debtor's Chapter 11 case to one under Chapter 7.
The next hearing is set for October 2.
The Debtor identifies the SBA as a secured creditor holding a UCC-1
financing statement, securing a loan balance of $218,569. The
collateral includes virtually all of the Debtor's assets, including
present and future accounts, deposit accounts, inventory,
equipment, and proceeds. Thus, the cash generated from business
operations may qualify as cash collateral.
About Intrex Inc.
Intrex, Inc. is a North Carolina corporation formed in 1988,
operating two retail locations in Raleigh and Greensboro, N.C,
offering computer-related sales and services.
Intrex sought protection under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. E.D. N.C. Case No. 25-03407) on September 2, 2025,
listing up to $50,000 in assets and up to $1 million in
liabilities. Jonathan Farmer, vice president of Intrex, signed the
petition.
Judge Joseph N. Callaway oversees the case.
William Kroll, Esq., at Gaskins Hancock Tuttle Hash, LLP,
represents the Debtor as legal counsel.
IPG FRANCHISING: U.S. Trustee Appoints Creditors' Committee
-----------------------------------------------------------
Guy Van Baalen, Acting U.S. Trustee for Region 21, appointed an
official committee to represent unsecured creditors in the Chapter
11 case of IPG Franchising, Inc.
The committee members are:
1. Peters Property Concierge, LLC
c/o Beshoy Rizk, Esq & Courtney D. Hutchinson, Esq.
400 5th Ave. S., Ste. 200
Naples, FL 34102
Phone: 239-330-1904 / 305-742-0724
beshoy@brizklaw.co
chutch@gohutchlaw.com
2. Master Investments of America, LLC
Attn: Jaime Parga Portela, Manager
4751 Luminous Loop, Apt 302
Kissimmee, FL 34746
Phone: 407-747-0196
jparga@gessseguros.com.co
3. SMNM Holding, LLC
Attn: Jane Sonkin
20294 Castle Stuart Ave
Boca Raton, FL 33434
Phone: 416-569-0714
janesvirski@gmail.com
4. Lipcor Property Management
Attn: Sandra Alves
15 123 Sunny Day Drive
Bradenton, FL 34211
Phone: 941-334-4682
corves15@yahoo.ca
5. Jalto Property Management Corp
Attn: Akinwale Thompson, President
136 Sweet Barley Court
Grayson, GA 30017
Phone: 416-671-2726
akinwalethompson@gmail.com
Official creditors' committees serve as fiduciaries to the general
population of creditors they represent. They may investigate the
debtor's business and financial affairs. Committees have the right
to employ legal counsel, accountants and financial advisors at a
debtor's expense.
About IPG Franchising Inc.
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.
IPG Franchising Inc. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-05025) on August 8,
2025. In its petition, the Debtor reports estimated assets up to
$50,000 and estimated liabilities between $1 million and $10
million.
The Debtor is represented by Chad Van Horn, Esq., at Van Horn Law
Group, P.A.
ITANOM LLC: Gets OK to Hire Essex Richards as Bankruptcy Counsel
----------------------------------------------------------------
ITANOM, LLC received approval from the U.S. Bankruptcy Court for
the Western District of North Carolina to employ Essex Richards, PA
as bankruptcy counsel.
The firm's services include:
(a) provide legal advice concerning the responsibilities as
Chapter 11 Debtor-in-Possession and the continued management of its
business;
(b) negotiate, prepare, and pursue confirmation of a Chapter
11 plan and approval of disclosure agreements and/or documents;
(c) prepare all necessary motions, applications, reports,
orders, objections and the like associated with prosecuting the
Chapter 11 case;
(d) prepare and appear in Bankruptcy Court to protect the
Debtor's best interests;
(e) perform all other legal service for the Debtor which may
become necessary in this Chapter 11 case; and
(f) prosecute and defend the Debtor in all adversary
proceedings related to the base case.
The firm's counsel and staff will be paid at these hourly rates:
John Woodman, Attorney $400
Paralegal $200
Staff $65
In addition, the firm will seek reimbursement for expenses
incurred.
The firm received a retainer of $12,000 from the Debtor.
Mr. Woodman 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 C. Woodman, Esq.
Essex Richards, PA
1701 South Blvd.
Charlotte, NC 28203
Telephone: (704) 377-4300
About ITANOM LLC
ITANOM, LLC sought relief under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. W.D.N.C. Case No. 25-30861) on Aug. 22, 2025, listing
up to $1 million in both assets and liabilities.
Judge Ashley Austin Edwards oversees the case.
The Debtor tapped John C. Woodman, Esq., at Essex Richards, PA as
counsel.
J PAUL ROOFING: Katharine Battaia Clark Named Subchapter V Trustee
------------------------------------------------------------------
The U.S. Trustee for Region 6 appointed Katharine Battaia Clark of
Thompson Coburn, LLP as Subchapter V trustee for J Paul Roofing &
Construction, Inc.
Ms. Clark will be paid an hourly fee of $525 for her services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.
Ms. Clark declared that she is a disinterested person according to
Section 101(14) of the Bankruptcy Code.
The Subchapter V trustee can be reached at:
Katharine Battaia Clark
Thompson Coburn, LLP
2100 Ross Avenue, Ste. 3200
Dallas, TX 75201
Office: 972-629-7100
Mobile: 214-557-9180
Fax: 972-629-7171
Email: kclark@thompsoncoburn.com
About J Paul Roofing & Construction Inc.
J Paul Roofing & Construction Inc. operates a roofing and exteriors
business.
J Paul Roofing & Construction sought protection under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. N.D. Texas Case No. 25-33290) on
August 28, 2025, listing up to $500,000 in assets and up to $1
million in liabilities. Jason Paul, president of J Paul Roofing &
Construction, signed the petition.
Judge Michelle V. Larson oversees the case.
Robert C. Lane, Esq., at The Lane Law Firm, represents the Debtor
as bankruptcy counsel.
JEFRYN PARK: Seeks to Hire Heskin & Proper as Litigation Counsel
----------------------------------------------------------------
Jefryn Park Realty, LLC seeks approval from the U.S. Bankruptcy
Court for the Eastern District of New York to employ Heskin &
Proper PLLC as special counsel.
Heskin & Proper will represent the Debtor in the litigation
entitled WBLS PO I, LLC against Nanz Custom Hardware, Inc. dba the
Nanz Company, et al., Case No. 602887/2025.
The firm will seek a 40 percent contingency fee for proceeds
recovered and collected.
In addition, the firm will seek reimbursement for expenses
incurred.
Shane Heskin, Esq., a partner at Heskin & Proper, 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:
Shane Heskin, Esq.
Heskin & Proper, PLLC
800 Westchester Ave., Suite 641N
Rye Brook, NY 10573
Telephone: (917) 362-1313
About Jefryn Park Realty LLC
Jefryn Park Realty LLC, through its affiliate, manufactures custom
metal hardware including hinges, locks, and handles. It leases and
operates from a 40,000-square-foot industrial facility in Deer
Park, New York.
Jefryn Park Realty LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-72381) on June 18,
2025. In its petition, the Debtor reports estimated assets up to
$50,000 and estimated liabilities between $1 million and $10
million.
Honorable Bankruptcy Judge Alan S. Trust handles the case.
The Debtor tapped James C. Vandermark, Esq., at White and Williams
LLP as bankruptcy counsel and Shane Heskin, Esq., at Heskin &
Proper, PLLC as litigation counsel.
JHRG MANUFACTURING: Hires George Oliver PLLC as Legal Counsel
-------------------------------------------------------------
JHRG Manufacturing LLC asks the U.S. Bankruptcy Court for the
Eastern District of North Carolina to employ George Mason Oliver of
The Law Offices of George Oliver, PLLC to serve as legal counsel in
its Chapter 11 case.
The firm will provide these services:
(a) represent and assist the Debtor in carrying out its duties
under Chapter 11 of the Bankruptcy Code;
(b) advise and represent the Debtor generally throughout the
administration of the Chapter 11 proceeding; and
(c) perform all legal services necessary to advise and
represent the Debtor in the course of this bankruptcy case.
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.
The firm received a retainer in the amount of $11,738, inclusive of
$1,738 filing fee.
Mr. Oliver 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:
George Mason Oliver, Esq.
The Law Offices of George Oliver, PLLC
PO Box 1548
New Bern, NC 28563
Tel: (252) 633-1930
Fax: (252) 633-1950
E-mail: george@georgeoliverlaw.com
About JHRG Manufacturing LLC
JHRG Manufacturing LLC is a North Carolina-based company that
specializes in the production of personal protective garments and
safety-related items used in industrial and recreational settings.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. N.C. Case No. 25-03211-5-DMW) on
August 20, 2025. In the petition signed by John E. Holland,
member/manager, the Debtor disclosed up to $500,000 in assets and
up to $1 million in liabilities.
Judge David M. Warren oversees the case.
Benjamin R. Eisner, Esq., at The Law Offices of George Oliver,
PLLC, represents the Debtor as legal counsel.
WBL SPO I, LLC, as lender, is represented by:
William Walt Pettit
HUTCHENS LAW FIRM LLP
6230 Fairview Road, Suite 315
Charlotte, N.C. 28210
Telephone: (704) 362-9255
Telecopier: (704) 362-9268
walt.pettit@hutchenslawfirm.com
JTRE 14 VESEY: Claims to be Paid from Property Sale Proceeds
------------------------------------------------------------
Albert Togut, not individually but solely in his capacity as
Chapter 11 trustee, and CPIF MRA, LLC submitted a Disclosure
Statement describing Chapter 11 Plan of Liquidation for Park 28
Partners LLC, debtor affiliate of JTRE 14 Vesey LLC, dated
September 2, 2025.
The Debtor owns property commonly known as Unit COMM in the
condominium building located at 31 East 28th Street, New York, New
York 10016 (the "Property"). As of the date on which the Debtor
commenced its Chapter 11 Case, Terzi owned 95% of the membership
interests and the remaining 5% of membership interest were owned by
other investors that each owned less than 5% of the membership
interests.
The Property is the only known asset owned by the Debtor. The
Property is currently vacant and generates no income from which the
Trustee can pay property taxes, insurance premiums, assessments,
governmental charges, costs and other expenses to maintain and
safeguard the Property. The Lender has advanced funds to the
Trustee to pay costs and expenses of the Estate as needed.
Prior to the Appointment of the Trustee, on August 12, 2024, the
Court entered an order authorizing the Debtor to retain Cushman to
assist in the marketing and sale of the Properties (the "Cushman
Retention Order"). Following the appointment of the Trustee, the
Trustee continued and extended the retention of Cushman as broker
for the Properties through December 31, 2025.
Cushman extensively marketed the Property. The highest and best
offer was an offer to purchase the Property for $2.2 million (the
"Stalking Horse Bid"). Following discussions with Cushman and the
Trustee???s professionals, the Trustee determined that Stalking
Horse Bid was the highest and best offer that has been made for the
Property, and should be accepted as the "stalking horse offer." The
Trustee concluded that the terms of the Stalking Horse Bid are fair
and reasonable, and in the best interests of the Estate, its
creditors and other parties in interest.
On July 31, 2025, the Trustee filed a motion (the "Bid Procedures
Motion") requesting, among other things, (a) approval of bidding
procedures (the "Bidding Procedures") in connection with the
Trustee's sale of the Property as described in the Application, (b)
approval of stalking horse bid for the sale of the property for
$2.2 million (the "Stalking Horse Bid"), subject to higher and
better offers, and (c) the scheduling of a bid deadline, auction
date, and sale hearing (the "Bidding Schedule").
On August 21, 2025, the Bankruptcy Court entered an order (the
"Bidding Procedures Order"), among other things, establishing
September 15, 2025 as the deadline to submit higher and better
offers for the purchase of the Property and September 25, 2025 as
the date of the hearing to consider the sale of the Property
pursuant to the Stalking Horse Bid or such other higher or better
offer that is received pursuant to the Bidding Procedures. The
proceeds from sale of the Debtor's Property (the "Sale
Transaction") will exclusively fund the Debtor's Plan.
General Unsecured Claims
Consolidated Edison Company of New York, Inc. filed Proof of Claim
number 1-1 asserting a general unsecured claim against the Debtor
in the amount of $1,933.31. In its Schedules, the Debtor scheduled
a non-contingent, liquidated, undisputed general unsecured claim in
favor of Westerman Ball in the amount of $18,200.
The Department of Treasury - Internal Revenue Service (the "IRS")
filed Proof of Claim number 2-1 asserting a general unsecured claim
against the Debtor in the amount of $5,640. However, the IRS
subsequently filed an amended Proof of Claim number 2-2 reducing
the amount of the claim to $0.
Class 4 consists of General Unsecured Claims. Class 4 Claims are
impaired and are not expected to receive any recovery under the
Plan based on the expected proceeds from the Sale of the Property.
As such, holders of General Unsecured Claims are deemed to reject
the Plan and are not entitled to vote to accept or reject the Plan.
However, holders of Allowed General Unsecured Claims will receive
their pro rata share of any Plan Funds available after full payment
of Administrative Claims, Fee Claims, Other Priority Claims,
Lender's Claims, and Other Secured Claims.
Class 5 consists of Existing Equity Interests. All Allowed Existing
Equity Interests shall be cancelled and Holders of such Interest
will receive any remaining funds from the Debtor after all senior
classes of are paid in full. Class 5 Interests are impaired and
deemed to reject the Plan.
The Plan will be funded from the net proceeds of the Sale
Transaction for the Property. With respect to such Property, the
Broker has conducted a private marketing process that has resulted
with an accepted offer to purchase the Property. The Trustee has
filed a motion to sell the Property to the proposed purchaser,
subject to higher and better offers and the Court has entered the
Bidding Procedures Order. In the event that the Trustee receives a
qualified offer in accordance with the Bidding Procedures, the
Trustee will conduct an Auction of the Property to determine the
highest and best bid for it and then will seek final approval of
the sale from the Bankruptcy Court in a Sale Order.
A full-text copy of the Disclosure Statement dated September 2,
2025 is available at https://urlcurt.com/u?l=6yio3k from
PacerMonitor.com at no charge.
Attorneys for Albert Togut:
TOGUT, SEGAL & SEGAL LLP
Frank A. Oswald, Esq.
550 Broad Street, Suite 1508
Newark, NJ 07102
Tel: (212) 594-5000
Email: frankoswald@teamtogut.com
Albert Togut, Esq.
Eitan E. Blander, Esq.
One Penn Plaza, Suite 3335
New York, NY 10119
Tel: (212) 594-5000
Email: altogut@teamtogut.com
eblander@teamtogut.com
Counsel to CPIF MRA, LLC:
BENESCH FRIEDLANDER COPLAN & ARONOFF LLP
Michael Barrie, Esq.
411 Hackensack Avenue, 3rd Floor
Hackensack, New Jersey 07601-6323
Tel. (302) 442-7010
Abbey Walsh, Esq.
1155 Avenue of the Americas, 26th Floor
New York, New York 10036
Tel. (646) 777-0053
About JTRE 14 Vesey LLC
JTRE 14 Vesey LLC owns, in fee simple, the real property at located
at 14 Vesey Street, New York, New York 10007.
The Debtor filed its voluntary petition for relief under Chapter 11
of the Bankruptcy Code (Bankr. D.N.J. Case No. 24-12087) on Feb.
28, 2024, listing $10 million to $50 million in both assets and
liabilities. The petition was signed by David Goldwasser, VP of
Restructuring.
Eric Horn, Esq., at A.Y. Strauss LLC, is the Debtor's legal
counsel.
KIPP NORTH: S&P Lowers 202A/B Revenue Bond Ratings to 'B+'
----------------------------------------------------------
S&P Global Ratings lowered its long-term rating on Minneapolis,
Minn.'s series 2020A and 2020B charter school lease revenue bonds,
issued for KIPP North Star Academy (North Star), to 'B+' from
'BB-'.
The outlook is stable.
The rating action reflects its view of North Star's persistent and
accelerating enrollment decreases and operations that have become
dependent on fundraising.
S&P said, "We view the declining school-aged population trend in
Hennepin County as an elevated social capital risk for KIPP North
Star under our environmental, social, and governance (ESG) factors.
The declining population trend in the county has been notable in
the areas from which KIPP North Star traditionally draws
enrollment. Recent enrollment declines have been attributed by
management to population decreases, with management attempting to
offer additional curricula in the near future in an effort to
reverse this trend. Management believes enrollment will need to be
sustained above 200 to remain viable (current enrollment is 229).
Despite these elevated social risks, we view the school's
environmental and governance factors as neutral in our credit
rating analysis.
"The stable outlook reflects our expectation that North Star will
maintain its management team and continue to adjust its budget to
reflect the shrinking revenue as a result of declining enrollment.
The stable outlook incorporates the expectation for successful
fundraising that will allow the school to produce positive
operations in fiscal years 2025 and 2026. Management reports it
will be able to continue operating as long as enrollment is at
least 200 students, with 229 students currently enrolled.
"We could take a negative rating action if the school's market
position continues to weaken, if enrollment does not stabilize, or
if retention rates or academic performance slide, as we view the
school's shrinking enrollment and small operating base as limiting
credit factors. Additionally, we could consider a negative rating
action if North Star posts full-accrual deficit operations or
coverage weakens to levels incompatible with the current rating. We
would view any decreases in liquidity unfavorably.
"We could consider a positive rating action if the school increases
enrollment, improves its authorizer standing, and maintains its
financial profile."
KOHL'S CORP: S&P Downgrades ICR to 'B+', Outlook Negative
---------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on department
store chain Kohl's Corp. to 'B+' from 'BB-' and its issue-level
rating on its secured debt to 'BB' from 'BB+'. The recovery rating
remains '1', indicating its expectation for very high recovery
(90%-100%; rounded estimate: 95%) in the event of a payment
default.
S&P also affirmed its 'BB-' rating on Kohl's unsecured debt and
revised the recovery rating to '2' from '3', which indicates its
expectations for substantial recovery (70%-90%; rounded estimate:
85%).
The negative outlook reflects that S&P's could lower the rating
over the next 12 months if Kohl's does not reverse its operating
performance.
Kohl's Corp. has underperformed its peers as its top line has
declined over the last few years and profitability metrics have
fallen.
Additionally, it is replacing its CEO after just months due to a
conflict of interest, the third leadership turnover within three
years.
The downgrade reflects S&P's view that Kohl's business risk profile
is weaker than that of peers. Kohl's net sales declined to nearly
$15 billion from the post-COVID-19 recovery peak of $18.4 billion
in fiscal 2021, matching what it generated during the pandemic when
stores were closed. Kohl's is still sizable, but prior to the
pandemic it generated near $19 billion of revenue annually. This
decline over 14 consecutive quarters reflects its strategy misses
and financial pressure on its target lower-income demographic.
Furthermore, the competitive landscape has shifted as consumers
have more e-commerce and discounter options to price shop,
including Amazon's increasing apparel offerings.
Over the same period, its profitability has fluctuated, and S&P
Global Ratings-adjusted EBITDA margins have fallen under 10% while
department store competitors average 10%-16%. Therefore, we now
view Kohl's competitive position as weaker than that of other
retailers and department stores such as Macy's, Nordstrom, and
Dillard's and apply a one-notch negative comparable ratings
modifier.
S&P's ratings reflect increased concerns over management stability
and strategy. We view Kohl's management instability and strategy
shifts as negative, raising concerns over the company's ability to
stabilize operating performance in a mature business model in a
highly competitive industry. Kohl's has changed CEOs and business
strategy frequently over the last few years. The board terminated
Ashley Buchanan abruptly in early 2025 for conflicts of interest
after a few months in the role. This was after he unveiled his
strategy to stabilize Kohl's, which S&P's viewed favorably but also
as extensive and concerning in how many items need remediation. His
strategy included increasing private-label offerings and reducing
national brands, fixing coupon issues that offer an opening price
point for target customers, investing in a seamless online to
in-store experience, and bringing back certain categories (that
core customers seek) that were removed to fit Sephora's. Michael
Bender is the current interim CEO during the search for a permanent
replacement. Previously, Michelle Gass was CEO in 2018-2022 and Tom
Kingsbury in 2022-2025. The changes in leadership brought diverging
strategies in rapid succession, none of which proved effective in
restoring Kohl's competitive position to its pre-pandemic status as
a leader in the department store space. Ms. Gass' strategy was to
bring large national brands into the store, reduce private labels
and founding its Sephora partnership, which has attracted new
younger customers. Mr. Kingsbury focused on expense management and
lean inventory.
Kohl's refinanced this year at a high interest rate. Given its
underperformance and market indicators, Kohl's will likely have to
refinance on a secured basis going forward if it chooses not to
repay in full. Kohl's refinanced its 4.25% senior unsecured notes
maturing in 2025 two months before maturity with a new 10%, $360
million senior secured note due in 2030. While its next maturity
wall is not until 2029 and minimal at $42 million, it has annual
maturities thereafter through 2033 totaling $1.0 billion. The
company has been a good free operating cash flow generator and
could partially repay the maturities over shareholder friendly
returns to avoid the incremental interest costs. However, new
management's approach to capital allocation and financial policy is
uncertain and highly dependent on improving operating performance.
S&P said, "We forecast net sales to continue to decline. Net sales
fell 5% and comparable store sales 4.2% for the second quarter,
slightly better than expectations. The company noted positive
results from some initiatives including adding back petite sizes,
jewelry, and private brands, and adding national brands to the
coupon. However, core customers are strained financially and price
sensitive, which is pressuring performance. Inventory is down 5%,
but receipts are down 15%. We are maintaining our base forecast of
revenues to be down 6% in 2025 and lowered our 2026 forecast to
down 3% as we expect secular trends to continue. Furthermore,
tariff related pricing actions across the industry will increase
pressure on consumer spending power in fiscal 2026.
"We expect Kohl's cash flow generation to improve. The company cut
its dividend 75% to about $56 million a year from $222 million in
2024. We expect Kohl's will use this extra cash to repay its
outstanding revolver balance, on which $75 million is outstanding
as of the second quarter. We view this as prudent and believe it
will benefit S&P Global Ratings-adjusted credit metrics, though we
view its need to cut its dividend and pause share repurchases as
stemming from its operating underperformance. We forecast about
$900 million of cash flow from operations from inventory
improvements (compared to inventory dislocations in the previous
year) and $400 million of capital expenditure (capex) in fiscal
2025.
"The negative outlook reflects that we could lower the rating over
the next 12 month if Kohl's does not reverse its operating
performance, including declining sales and profitability metrics."
S&P could lower its rating on Kohl's if:
-- Operational missteps, increased competition or a worsening
macroeconomic environment weaken performance compared with our base
case, leading to further erosion of sales and profitability; or
-- S&P expects leverage to increase to near 5x.
S&P could revise the outlook on Kohl's back to stable if:
-- Operating performance improves including stabilization of its
revenue base and EBITDA margins greater than 10% on a S&P Global
Ratings-adjusted basis; or
-- It sustains leverage of 4x-5x through EBITDA expansion from
execution of its strategy.
KOLSTEIN MUSIC: Unsecured Creditors to Split $40K over 3 Years
--------------------------------------------------------------
Kolstein Music, Inc. filed with the U.S. Bankruptcy Court for the
Middle District of Florida a Subchapter V Plan of Reorganization
dated August 27, 2025.
The Debtor is a Florida registered foreign for-profit corporation
which sells, repairs, restores and rents string instruments under
the management of its President, Manny Alvarez.
Kolstein Music has been in business since 1943 and was acquired by
Mr. Alvarez in 2019 after completing a stock purchase from Barrie
Kolstein, who mentored Mr. Alvarez for decades prior to selling his
interests in the company.
In connection with his acquisition of Kolstein Music, Mr. Alvarez
expressly required a "NonInterference Condition" in the stock
purchase agreement in order to ensure no interference or other
competition would interfere with Mr. Alvarez's operation of
Kolstein Music. Unfortunately, instead of cooperation, immediately
after closing Mr. Kolstein began interfering with, competing
against, soliciting the customers of, and otherwise interfering
with Kolstein Music's business and the ability of Mr. Alvarez to
maximize the performance of his significant investment.
Instead of complying with his obligations under the stock purchase
agreement with Mr. Alvarez, Mr. Kolstein elected to use the court
system to further his own narrative and otherwise defame and
undermine his former mentee while also causing cataclysmic
interruptions to the Debtor's business and cash generating
activities.
So, in order to preserve its business and insulate itself from
further interruptions, Debtor elected to utilize the Chapter 11
process to restructure certain debt obligations, dispute claims,
and pursue causes of action for the benefit of its business,
creditors and estate.
Class 4 consists of all Allowed General Unsecured Claims against
the Debtor. As set forth in the Debtor's financial projections, the
Debtor's projected disposable income will not exceed $40,263.58. In
full satisfaction of the Allowed Class 4 General Unsecured Claims,
Holders of Class 4 Claims shall receive a pro rata share of
Distributions totaling $40,263.58 paid pursuant to the following
payment schedule, which payments shall commence on the Effective
Date:
Quarters 1 through 4 (Plan Year 1): $3,355.30 per quarter.
Quarters 5 through 8 (Plan Year 2): $3,355.30 per quarter.
Quarters 9 through 12 (Plan Year 3): $3,355.30 per quarter
In a liquidation scenario, the value received by holders of Allowed
Class 4 Claims would be $0.00. Class 4 is Impaired.
Class 5 consists of all equity interests in Kolstein Music, Inc.
Class 5 Interest Holders shall retain their respective Interests in
Kolstein Music, Inc. in the same proportions such Interests were
held as of the Petition Date (i.e., 100.00% Interest retained by
Mr. Manny Alvarez). Class 5 is Unimpaired.
The Plan contemplates the Debtor will continue to manage and
operate its business in the ordinary course, but with restructured
debt obligations. It is anticipated the Debtor's postconfirmation
business will mainly involve continued operation of its musical
instrument business, the income from which will be committed to
make the Plan Payments to the extent necessary.
Funds generated from the Debtor's operations through the Effective
Date will be used for Plan Payments; however, the Debtor's cash on
hand as of Confirmation will be available for payment of
Administrative Expenses.
A full-text copy of the Subchapter V Plan dated August 27, 2025 is
available at https://urlcurt.com/u?l=GS6w2o from PacerMonitor.com
at no charge.
About Kolstein Music Inc.
Kolstein Music, Inc. is a Florida registered foreign for-profit
corporation which sells, repairs, restores and rents string
instruments.
The Debtor filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-03511) on June 8,
2025, listing up to $1 million in both assets and liabilities.
Andrew Layden serves as Subchapter V trustee.
Judge Tiffany P. Geyer oversees the case.
The Debtor is represented by:
Daniel A. Velasquez, Esq.
Latham, Luna, Eden & Beaudine, LLP
Tel: 407-481-5800
dvelasquez@lathamluna.com
KTRV LLC: Unsecureds Will Get 5% to 10% of Claims in Plan
---------------------------------------------------------
KTRV LLC and its affiliates filed with the U.S. Bankruptcy Court
for the District of Delaware a Combined Disclosure Statement and
Plan of Liquidation dated September 1, 2025.
KTRV is a Delaware holding company whose sole asset is the
membership interest in HCNR, a Pennsylvania Limited Liability
Company.
As of the Petition Date, HCNR owned and operated five producing
coal mines and related operations in Pennsylvania and Maryland.
Specifically, on the Petition Date, HCNR owned the following: (i)
the Carlos site (located in Frostburg, MD), (ii) the Cabin Run site
(located in Frostburg, MD), (iii) Summit #2 site (located in
Meyersdale, PA), (iv) the Fisher #3 site (located in Meyersdale,
PA), and (v) the Saylor Hill #2 site (located in Meyersdale, PA).
Additionally, HCNR owned (a) an operating wash plant located in
Meyersdale, PA, and (b) a number of permits for other sites that
were in cessation or reclamation. As of the Petition Date, HCNR's
main office was located in Meyersdale, PA.
On May 19, 2025, the Court entered an Order approving the Bidding
Procedures (as subsequently amended, the "Bidding Procedures
Order"), pursuant to which the Court, among other things, set a
deadline for the Debtors to enter into a stalking horse agreement,
a bid deadline of June 2, 2025 (the "Bid Deadline"), setting a
deadline for an auction (if necessary), setting objection
deadlines, and scheduling a sale hearing.
Consistent with the Bidding Procedures Order, on May 23, 2025, the
Debtors, after consultation with the Committee and Bedrock (the
"Consultation Parties"), entered into a stalking horse agreement
with Nations Capital, LLC ("Nations Cap") for the sale of all of
the Debtors' equipment for $19 million (the "Stalking Horse Bid").
At the conclusion of the Auction, the Debtors, after consultation
with the Consultation Parties, determined that the combination of
(i) the bid (the "Simkol/Fearless Bid") of Simkol Corp. and
Fearless Leasing, LLC ("Simkol/Fearless"), and (ii) the bid (the
"Cobra Bid") of Cobra Mining, Incorporated or its designee, was
determined to be the highest and best bid for the Debtors' assets.
The combined Simkol/Fearless and Cobra bid provides the estates
with $21,651,000 of consideration, plus the assumption of
liabilities.
On June 23, 2025, the Court considered the proposed sales to Cobra
and Simkol/Fearless and, and on June 25, 2025, the Court entered
orders approving the proposed sales. On June 30, 2025, the Sales
each closed.
This Plan contemplates the establishment of a trust by and through
which a Liquidating Trustee will liquidate the Debtors' Unsold
Assets, either through sale, or litigation and collection, for
Distribution to holders of Allowed Claims.
Class 4 consists of General Unsecured Claims. Each Holder of an
Allowed General Unsecured Claim shall receive in full and final
satisfaction and release of and in exchange for such Allowed Class
4 Claim, the Pro Rata share of the Series B Trust Interests,
allocated based on (a) the Initial Distribution Fund after payment
or reserve of all Allowed Administrative Expenses, Allowed Priority
Tax Claims, Allowed Priority Non-Tax Claims, and Allowed Secured
Claims in full and (b) to the extent that any portion of an Allowed
General Unsecured Claim remains after such payment, the Unsecured
Claim Distribution Fund.
The allowed unsecured claims total $124 million. This Class will
receive a distribution of 5% to 10% of their allowed claims. Class
4 Claims are Impaired and entitled to vote.
Class 5 consists of Convenience Class Claims. Convenience Class
Claims are unsecured claims that have been asserted in an amount of
$20,000 or less. Unless a Convenience Class Claim is the subject of
an objection on the Effective Date or has been satisfied, it shall
be deemed Allowed and not subject to objection, and the Holder of
such Convenience Class Claim shall receive a Distribution of 10% of
the amount of its Allowed Convenience Class Claim. Such
Distribution will be made from the Initial Distribution Fund as
soon after the Effective Date as is reasonably practicable but in
no event prior to payment in full (or the establishment of reserves
sufficient to allow payment in full) of all Allowed Administrative
Expenses, Allowed Priority Tax Claims, Allowed Priority Non-Tax
Claims, and Allowed Secured Claims.
In the event that a Convenience Class Claim Holder has opted into
Class 5 and an objection to the Claim is pending on the Effective
Date, the Holder of such Claim shall receive a Distribution of 10%
of the amount of its Allowed Convenience Claim from the Initial
Distribution Fund as soon as reasonably practicable after the Claim
is Allowed. Class 5 Claims are Impaired and entitled to vote. The
allowed unsecured claims total $646,000. This Class will receive a
distribution of 10% of their allowed claims.
On the Effective Date, all Interests shall be deemed canceled,
extinguished and of no further force or effect, and the Holders of
Interests shall not be entitled to receive or retain any property
on account of such Interest.
On the Effective Date the Debtors will be deemed to have
transferred the Liquidating Trust Assets to the Liquidating Trust;
provided that the Liquidating Trust Assets shall be subject to the
Bedrock Lien. The Confirmation Order shall be deemed to, pursuant
to sections 363 and 1123 of the Bankruptcy Code, authorize, among
other things, all actions as may be necessary or appropriate to
effectuate any transaction described in, approved by, contemplated
by, or necessary to effectuate the Plan.
The Liquidating Trustee's duties shall commence as of the Effective
Date. The Liquidating Trustee shall administer the Liquidating
Trust and shall serve as a Representative of the Estates under
section 1123(b) of the Bankruptcy Code for the purpose of enforcing
or pursuing Causes of Action belonging to the Estates.
A full-text copy of the Combined Disclosure Statement and Plan
dated September 1, 2025 is available at
https://urlcurt.com/u?l=WrtbGp from Stretto Inc., claims agent.
Counsel to the Debtors:
MORRIS JAMES LLP
Jeffrey R. Waxman, Esq.
Eric J. Monzo, Esq.
Christopher M. Donnelly, Esq.
Samantha L. Rodriguez, Esq.
500 Delaware Avenue, Suite 1500
Wilmington, DE 19801
Telephone: (302) 888-6800
Facsimile: (302) 571-1750
E-mail: jwaxman@morrisjames.com
emonzo@morrisjames.com
cdonnelly@morrisjames.com
srodriguez@morrisjames.com
About KTRV LLC
KTRV is a Delaware holding company whose sole asset is its
membership interest in HCNR, a Pennsylvania limited liability
company. HCNR owns and operates five coal mines and related
operations in Pennsylvania and Maryland.
KTRV LLC and Heritage Coal & Natural Resources, LLC, sought relief
under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead
Case No. 25-10601) on March 30, 2025.
In the petitions signed by CRO Brian Ryniker, KTRV LLC listed
assets of $50 million to $100 million and liabilities of $50
million to $100 million, and Heritage Coal listed assets of $100
million to $500 million and estimated liabilities of $100 million
to $500 million.
The Debtors tapped Morris James LLP as counsel. The Debtors'
restructuring advisor is RKC, LLC d/b/a RK Consultants LLC, and
their claims and noticing agent is Stretto Inc.
The U.S. Trustee for Region 3 appointed an official committee to
represent unsecured creditors. The Committee selected Frost Brown
Todd LLP as its counsel, and Landis Rath & Cobb LLP as its
co-counsel.
KWENCH JUICE: Unsecured Creditors to Split $54,500 over 3 Years
---------------------------------------------------------------
Kwench Juice Franchising, Inc., filed with the U.S. Bankruptcy
Court for the District of Massachusetts a First Amended Plan of
Reorganization under Subchapter V dated August 29, 2025.
The Debtor's principal, Chris Gregoris, has been a lifelong
enthusiast of the Quick Service Restaurant (herein "QSR") industry.
Growing up, he always gravitated towards food related enterprises
oftentimes working at various menial jobs in the industry to
familiarize himself with the QSR from top to bottom.
Chris spent two years of research and development coupled with a
factfinding tour of the country to learn all about the then new hot
trend "fresh juicing,". Chris opened the first Kwench Juice Caf??
at 230 Congress Street, Boston, MA. The location was a full blown
success prompting him in July 2015 to franchise the concept. The
Debtor has been growing ever since.
The Debtor's business, that of a party that sells franchises, is a
highly regulated industry. Government employees with checklists
constantly make sure that all the franchisors' filings are made on
a timely basis and that the franchisees do not become
disenfranchised. Unfortunately, the Debtor neglected to make the
appropriate filing in the State of Michigan. This resulted in
litigation commenced by Steven Droege against both the Debtor and
its principal Chris.
The suit went to trial in Michigan resulting in a judgment against
the Debtor and Chris in the amount of $428,325.00 on April 17,
2024. The judgment was brought to Massachusetts seeking full faith
and credit. As part of the Massachusetts litigation, Droege sought
to attach the Debtor's cashflow stream, i.e., its franchisee
monthly payments. The decision to file Chapter 11 was made because
of these actions.
The Plan proposes to pay Allowed Claims of creditors of the Debtor
as set forth in Article V of the Plan. The Plan is for a period of
three years.
Class 1 consists of General Unsecured Claims. In full and complete
satisfaction, settlement, release and discharge of the Class 1
Claims, each holder of an Allowed Class 1 Claim shall receive
quarterly payments commencing on the Effective Date equal to a pro
rata share of the cash distribution or $54,500.00 from the Debtor's
Disposable Income and other Plan contributions over 3 years.
Disposable income means the income that is received by the Debtor
and that is not reasonably necessary to be expended for the payment
of expenditures necessary for the continuation, preservation, or
operation of the business of the Debtor.
Class 1 is impaired under the Plan. Each holder of a Class 1 Claim
shall be entitled to vote to accept or reject the Plan.
Class 2 consists of Equity Interest Holder. The holder of the Class
2 Claim shall be subordinated to the claims of Class 1 Creditors
and receive no dividend herein. Upon Confirmation, all rights of an
equity holder will revest in the holder of the Class 2 Claim.
This Plan will be funded with available cash and cash flow from
ongoing business operations. The Debtor will continue to operate in
the ordinary course of business. Pursuant to section 1190(2) of the
Bankruptcy Code, the Plan provides for the submission of all or
such portion of the future earnings of the Debtor as is necessary
for the execution of the Plan.
A full-text copy of the First Amended Plan dated August 29, 2025 is
available at https://urlcurt.com/u?l=PgTA3G from PacerMonitor.com
at no charge.
Counsel to the Debtor:
Barry Levine, Esq.
100 Cummings Center, Suite 327G
Beverly, MA 01945
Telephone: (978) 922-8440
Email: barry@levineslaw.com
About Kwench Juice Franchising
Kwench Juice Franchising, Inc., operates a cafe in Boston under the
trade name Kwench Juice Cafe, which features juices and fruit
smoothies.
Kwench Juice Franchising sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Mass. Case No. 24-12587) on Dec. 26,
2024. In its petition, the Debtor reported up to $50,000 in assets
and up to $1 million in liabilities.
Judge Christopher J. Panos handles the case.
Barry Levine, Esq., represents the Debtor as legal counsel.
Stephen Darr was appointed as trustee in this Chapter 11 case. The
trustee tapped Murphy & King, Professional Corporation as his
counsel.
LANDMARK RECOVERY: Hires Sherrard Roe Voigt & Harbison as Counsel
-----------------------------------------------------------------
Landmark Recovery of Colorado, LLC and Landmark Recovery of
Arkansas, LLC seek approval from the U.S. Bankruptcy Court for the
Middle District of Tennessee to employ Sherrard Roe Voigt &
Harbison, PLC as counsel.
The firm will provide these services:
(a) render legal advice with respect to the rights, powers and
duties of the Debtors in their management of their property;
(b) prepare all necessary pleadings, orders and reports with
respect to this proceeding and to render all other legal services
as may be necessary or proper herein;
(c) assist and counsel the Debtors in the preparation,
presentation and confirmation of their Plan of Reorganization; and
(d) perform all other legal services that may be necessary and
appropriate in the general administration of this estate.
The firm will be paid at these hourly rates:
New Associates to Senior Partners $350 - $960
Michael Abelow, Attorney $650
Paralegals $270 - $350
In addition, the firm will seek reimbursement for expenses
incurred.
The firm received a total retainer of $87,101 from the Debtor.
Mr. Abelow 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 G. Abelow, Esq.
Sherrard Roe Voigt & Harbison, PLC
1600 West End Avenue, Suite 1750
Nashville, TN 37203
Telephone: (615) 742-4532
Email: mabelow@srvhlaw.com
About Landmark Recovery of Colorado LLC
Landmark Recovery of Colorado LLC, f/d/b/a Landmark Recovery of
Colorado Springs and d/b/a Praxis of Colorado Springs by Landmark
Recovery and Sheridan Grove Recovery, operates addiction treatment
centers across multiple U.S. states, providing medical detox,
residential, and outpatient rehabilitation services for substance
use disorders. The Company's facilities, some branded under "Praxis
by Landmark Recovery," offer individualized treatment plans
incorporating therapy, medication-assisted treatment, and clinical
support. Landmark Recovery's operations span locations in Arkansas,
Colorado, Indiana, Kentucky, and Ohio, serving patients through
evidence-based addiction care programs.
Landmark Recovery of Colorado LLC and Landmark Recovery of
Arkansas, LLC sought relief under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. M.D. Tenn. Lead Case No. 25-03452) on August 20, 2025.
In its petition, Landmark Recovery of Colorado reports total assets
of $7,375,347 and total liabilities of $1,841,854. The case is
jointly administered in Case No. 25-03452.
Honorable Bankruptcy Judge Randal S. Mashburn handles the case.
The Debtors are represented by Michael G. Abelow, Esq. at Sherrard
Roe Voigt & Harbison, PLC.
LEFEVER MATTSON: Perry Johnson Represents the Group
---------------------------------------------------
Isaac M. Gradman at Perry, Johnson, Anderson, Miller & Moskowitz,
LLP ("Perry Law") filed a verified statement pursuant to Rule 2019
of the Federal Rules of Bankruptcy Procedure to disclose that in
the Chapter 11 cases of Lefever Mattson and its affiliates, the
firm represents Ruth Tillman, et al. (the "Group").
Mr. Gradman did not hold any economic interest in the Debtors at
the time of his employment by the Group. Other than my engagement
by the Group as counsel, he currently has no economic interest in
the Debtors. The individuals involved in his employment are the
Members of the Group.
The Group consists of the following individuals and legal entities
(the "Members"), with their respective disclosable economic
interests identified and incorporated herein:
1. Robert Donald Rhoads Living Trust
323 Morrissey Blvd., Santa Cruz, CA 95062
* See Claim Nos. 1700, 1703, 1706, 1707, and 1730
* Additional economic claims and interests as to KS Mattson
Partners, LP, to be disclosed through
proofs of claims and/or interests to be filed by the claims and
interests bar date, October 3, 2025.
2. Dolores Rhodes, individually and as Trustee of the Dolores Irene
Rhoads Living Trust
11149 Fryer Creek Drive, Sonoma, CA 95467
* See Claim Nos. 1733, 1761, 1764, 1767, 1770, 1772, 1776, 1777,
1779, and 1780
* Additional economic claims and interests as to KS Mattson
Partners, LP, to be disclosed through
proofs of claims and/or interests to be filed by the claims and
interests bar date, October 3, 2025.
3. Elaine Lockwood
14025 Leahy Avenue, Bellflower, CA 90706
* See Claim Nos. 1643, 1645, 1646, 1649, 1650, 1651, and 1705
* Additional economic claims and interests as to KS Mattson
Partners, LP, to be disclosed through
proofs of claims and/or interests to be filed by the claims and
interests bar date, October 3, 2025.
4. Sylvia Vreeland
8823 Tiber Street, Ventura, CA 93004
* See Claim Nos. 1662, 1688, 1695, 1697, 1699, 1701, 1881, 1882,
1883, and 1884
* Additional economic claims and interests as to KS Mattson
Partners, LP, to be disclosed through
proofs of claims and/or interests to be filed by the claims and
interests bar date, October 3, 2025.
5. Ward M. and Anne C. Pitman, individually and as Trustees of Ward
M. and Anne C. Pitman Trust
123 Apple Lane, Aptos, CA 95003
* See Claim Nos. 1734, 1784, 1791, 1792, 1793, 1794, 1795, 1796,
1797, 1798, 1799, 1800, 1801, 1802,
1803, 1804, and 1805
* Additional economic claims and interests as to KS Mattson
Partners, LP, to be disclosed through
proofs of claims and/or interests to be filed by the claims and
interests bar date, October 3, 2025.
6. Randall D. Roth, individually and as Trustee of the Randall D.
Roth and Diane L. Roth Revocable Living
Trust
3722 Young Avenue, Oakland, CA 94619
* See Claim Nos. 1691, 1693, 1709, 1711, 1712, 1714, 1715, and
1717
* Additional economic claims and interests as to KS Mattson
Partners, LP, to be disclosed through
proofs of claims and/or interests to be filed by the claims and
interests bar date, October 3, 2025.
7. Gregory Poulios
175 Selby Lane, Unit 1, Livermore, CA 94551
* Economic claims and interests as to KS Mattson Partners, LP,
to be disclosed through proofs of claims
and/or interests to be filed by the claims and interests bar
date, October 3, 2025.
8. Kay Poulios
2 Tia Place, Moraga, CA 94556
* See Claim Nos. 1639, 1655, 1657, 1659, 1660, 1661, and 1713
* Additional economic claims and interests as to KS Mattson
Partners, LP, to be disclosed through
proofs of claims and/or interests to be filed by the claims and
interests bar date, October 3, 2025.
9. Donald Hicks and Kimberlie Hicks, individually and as Trustees
of the Hicks Living Trust
1880 Buck Ridge Court, Colfax, CA 95713
* See Claim Nos. 1708, 1710, 1723, 1726, 1754, 1781, 1782, and
1783
* Additional economic claims and interests as to KS Mattson
Partners, LP, to be disclosed through
proofs of claims and/or interests to be filed by the claims and
interests bar date, October 3, 2025.
10. Corey and Ute Anderson, individually and as Trustees of the
Corey and Ute Anderson Living Trust
1170 Oakes Blvd, San Leandro, CA
* See Claim No. 1225
* Additional economic claims and interests as to KS Mattson
Partners, LP, to be disclosed through
proofs of claims and/or interests to be filed by the claims and
interests bar date, October 3, 2025.
11. Daniel and Maria Wallen, individually and as Trustees of the
Wallen Family Trust
530 Cress Road, Santa Cruz, CA 95060
* See Claim Nos. 1720, 1769, 1771, 1773, and 1774
* Additional economic claims and interests as to KS Mattson
Partners, LP, to be disclosed through
proofs of claims and/or interests to be filed by the claims and
interests bar date, October 3, 2025.
12. David and Irene Ciappara, individually and as Trustees of the
David and Irene Ciappara Living Trust
153 Waldon Street, Brentwood, CA 94513
* See Claim Nos. 1718, 1719, 1721, 1725, 1727, 1729, and 1753
* Additional economic claims and interests as to KS Mattson
Partners, LP, to be disclosed through
proofs of claims and/or interests to be filed by the claims and
interests bar date, October 3, 2025.
13. Alexis Alekna, individually and as Trustee of the Vitas Alekna
and Dalia Alekna 2002 Revocable Trust
2763 Hutchinson Ct. Walnut Creek, CA 94598
* See Claim Nos. 1648, 1652, and 1653
* Additional economic claims and interests as to KS Mattson
Partners, LP, to be disclosed through
proofs of claims and/or interests to be filed by the claims and
interests bar date, October 3, 2025.
14. Nancy M. Sloan, individually and as Trustee of the Nancy M.
Sloan Revocable Trust
143 Chinook Court, Vacaville CA 95688
* See Claim Nos. 1785, 1787, 1788, 1789, 1790, and 1841
* Additional economic claims and interests as to KS Mattson
Partners, LP, to be disclosed through
proofs of claims and/or interests to be filed by the claims and
interests bar date, October 3, 2025.
15. Daniel Dowell
143 Chinook Ct., Vacaville, CA 95688
* See Claim Nos. 1694, 1698, and 1716
* Additional economic claims and interests as to KS Mattson
Partners, LP, to be disclosed through
proofs of claims and/or interests to be filed by the claims and
interests bar date, October 3, 2025.
16. Peter S. Strickland, individually and as Trustee of the Peter
S. Strickland Trust
1011 El Curtola Blvd, Walnut Creek, CA 94595
* See Claim Nos. 1755, 1756, 1757, 1758, 1759, 1760, 1762, 1763,
1765, 1766, 1786, 1840, 1863, and 1864
* Additional economic claims and interests as to KS Mattson
Partners, LP, to be disclosed through
proofs of claims and/or interests to be filed by the claims and
interests bar date, October 3, 2025.
The Group was not formed at the direction of any entity; each
Member of the Group chose to join the Group and enter into a joint
representation agreement with the undersigned counsel and his law
firm of his or her own volition, to evaluate and assert claims and
otherwise advance common interests through concerted action.
The law firm can be reached at:
Michael C. Fallon, Esq.
Michael C. Fallon, Jr., Esq.
100 E Street, Suite 219
Santa Rosa, California 95404
Telephone: (707) 546-6770
Facsimile: (707) 546-5775
Email: mcfallon@fallonlaw.net
fallonmc@fallonlaw.net
Isaac M. Gradman, Esq.
Michael E. Tracht, Esq.
Alexander A. Wiegel, Esq.
PERRY, JOHNSON, ANDERSON, MILLER & MOSKOWITZ, LLP
438 1st Street, 4th Floor
Santa Rosa, California 95401
Telephone: (707) 525-8800
Facsimile: (707) 545-8242
About LeFever Mattson
LeFever Mattson, a California corporation, manages a large real
estate portfolio. Timothy LeFever and Kenneth W. Mattson each owns
50% of the equity in the company. Based in Citrus Heights, Calif.,
LeFever Mattson manages a portfolio of more than 200 properties,
comprised of commercial, residential, office, and mixed-use real
estate, as well as vacant land, located throughout Northern
California, primarily in Sonoma, Sacramento, and Solano Counties.
It generates income from the properties through rents and use the
proceeds to fund its operations.
LeFever Mattson and its affiliates filed voluntary Chapter 11
petitions (Bankr. N.D. Cal. Lead Case No. 24-10545) on September
12, 2024. At the time of the filing, LeFever Mattson listed $100
million to $500 million in assets and $10 million to $50 million in
liabilities.
Judge Charles Novack oversees the cases.
Keller Benvenutti Kim LLP, led by Thomas B. Rupp, is the Debtors'
counsel. Kurtzman Carson Consultants, LLC, is the Debtors' claims
and noticing agent.
LG SOLAR: Behrooz Vida Named Subchapter V Trustee
-------------------------------------------------
The U.S. Trustee for Region 6 appointed Behrooz Vida, Esq., at the
Vida Law Firm, PLLC as Subchapter V trustee for LG Solar, LLC.
Mr. Vida will be paid an hourly fee of $495 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.
Mr. Vida declared that he is a disinterested person according to
Section 101(14) of the Bankruptcy Code.
The Subchapter V trustee can be reached at:
Behrooz P. Vida, Esq.
The Vida Law Firm, PLLC
3000 Central Drive
Bedford, TX 76021
Telephone: (817) 358-9977
Facsimile: (817) 358-9988
behrooz@vidalawfirm.com
About LG Solar LLC
LG Solar, LLC sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Texas Case No. 25-33315) on August 28,
2025, with $100,001 to $500,000 in assets and $500,001 to $1
million in liabilities.
Judge Scott W. Everett presides over the case.
Robert Lane, Esq., at The Lane Law Firm PLLC represents the Debtor
as bankruptcy counsel.
LHW CONSTRUCTION: Seeks to Hire Korompis Law Offices as Counsel
---------------------------------------------------------------
LHW Construction and Development seeks approval from the U.S.
Bankruptcy Court for the Central District of California to employ
Korompis Law Offices as counsel.
The firm's services includes:
(a) advise and assist regarding compliance with the
requirements of the United States Trustee;
(b) advise regarding matters of bankruptcy law;
(c) conduct examinations of witnesses, claimants or adverse
parties and prepare and assist in the preparation of reports,
accounts and pleadings;
(d) advise concerning the requirements of the Bankruptcy Code
and applicable rules;
(e) assist with the negotiation, formulation, confirmation and
implementation of a Chapter 11 plan;
(f) make any appearances in the Bankruptcy Court on behalf of
the Debtor; and
(g) take such other action and perform such other services as
the Debtor may require.
Nancy Korompis, Esq., the primary attorney in this representation,
will be paid at an hourly rate of $450 plus expenses.
The firm received a retainer of $2,500 from the Debtor.
Ms. Korompis disclosed in a court filing that her firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firm can be reached through:
Nancy Korompis, Esq.
Korompis Law Offices
P.O. Box 93223
Pasadena, CA 91109
Telephone: (626) 938-9200
Facsimile: (877) 552-9252
Email: nancy@korompislaw.com
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.
Nancy Korompis, Esq., at Korompis Law Offices serves as the
Debtor's counsel.
LHW CONSTRUCTION: Taps Korompis Law Offices as Bankruptcy Counsel
-----------------------------------------------------------------
LHW Construction and Development seeks approval from U.S.
Bankruptcy Court for the Central District of California to hire
Korompis Law Offices as general bankruptcy counsel.
The firm will render these services:
a. advise and assist Debtor regarding compliance with the
requirements of the United States Trustee;
b. advise Debtor regarding matters of bankruptcy law,
including the rights and remedies of the Debtor in regard to its
assets and with respect to the claims of creditors;
c. conduct examinations of witnesses, claimants or adverse
parties and to prepare and assist in the preparation of reports,
accounts and pleadings;
d. advise Debtor concerning the requirements of the Bankruptcy
Code and applicable rules;
e. assist with the negotiation, formulation, confirmation and
implementation of a Chapter 11 plan;
f. make any appearances in the Bankruptcy Court on behalf of
the debtor; and
g. take such other action and to perform such other services
as the debtor may require.
The Debtor paid a retainer to Korompis in the amount of $2,500.
Korompis will bill the Debtor at $300 per hour.
Nancy Korompis, Esq., partner at Korompis Law Offices, assured the
court that her firm is a "disinterested person" within the meaning
of 11 U.S.C. 101(14).
The firm can be reached through:
Nancy Korompis, Esq.
KOROMPIS LAW OFFICES
PO Box 60011
Pasadena, CA 91116
Tel: (626) 938-9200
Fax: (877) 552-9252
E-mail: nancy@korompislaw.com
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.
LIFESCAN GLOBAL: Committee Taps Jefferies as Investment Banker
--------------------------------------------------------------
The official committee of unsecured creditors appointed in the
Chapter 11 cases of LifeScan Global Corporation and its affiliates
seeks approval from the U.S. Bankruptcy Court for the Southern
District of Texas to employ Jefferies LLC as investment banker.
The firm's services include:
(a) become familiar with, to the extent Jefferies deems
appropriate, and analyze the business, operations, properties,
financial condition and prospects of the Debtors;
(b) advise the committee on the current state of the
"restructuring market";
(c) assist and advise the committee in its evaluation of any
proposed debtor in possession financing and potential alternative
sources of financing;
(d) assist and advise the committee on a sale, disposition or
other business transaction or series of transactions;
(e) assist and advise the committee in developing a general
strategy for accomplishing a transaction;
(f) assist and advise the committee in implementing a
transaction involving the Debtors;
(g) assist and advise the committee in evaluating and
analyzing any transaction;
(h) assist and advise the committee in connection with
negotiations with other stakeholders;
(i) assist and advise the committee in evaluating and
negotiating any restructuring and/or settlement proposals and/or
alternatives and evaluating the impact on recoveries;
(j) participate in hearings before the Bankruptcy Court and
provide testimony and expert reports, as necessary and appropriate,
on matters on which Jefferies has been engaged to advise the
committee hereunder;
(k) attend meetings of the committee with respect to matters
on which Jefferies has been engaged to advise the committee
hereunder; and
(l) render such other investment banking services as may from
time to time be agreed upon by the committee and Jefferies and as
reasonably appropriate.
Nancy Korompis, Esq., the primary attorney in this representation,
will be paid at an hourly rate of $450 plus expenses.
The firm will be paid at these fees:
(a) Monthly Fee of $150,000; and
(b) Transaction Fee of $2,850.
In addition, the firm will seek reimbursement for expenses
incurred.
Leon Szlezinger, 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:
Leon Szlezinger
Jefferies LLC
520 Madison Avenue
New York, NY 10022
About Lifescan Global Corporation
LifeScan delivers personalized health, wellness, and digital
solutions to individuals living with diabetes. Since 1981, LifeScan
has advanced glucose care and diabetes management with pioneering
technologies and new products, and is actively engaged in
designing, developing, manufacturing, and marketing devices,
software, and applications. Its comprehensive portfolio of
diabetes-related products and services includes blood glucose
monitoring devices, blood glucose test strips, lancing devices, and
digital applications.
LifeScan Global Corp. and its affiliates sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case
No. 25-90259) on July 15, 2025. As of the petition date, the
Debtors have approximately $786 million assets and approximately
$1.7 billion in liabilities. The case is jointly administered in
Case No. 25-90259.
Judge Alfredo R. Perez presides over the case.
The Debtors tapped Porter Hedges LLP and Milbank LLP as counsel and
PJT Partners LP as investment banker.
On July 28, 2025, the Office of the U.S. Trustee for the Southern
District of Texas appointed an official committee of unsecured
creditors in these Chapter 11 cases. The committee tapped Jefferies
LLC as investment banker.
LIFESCAN GLOBAL: Unsecureds Will Get 1% of Claim in Plan
--------------------------------------------------------
LifeScan Global Corporation, and affiliates filed with the U.S.
Bankruptcy Court for the Southern District of Texas a Disclosure
Statement for Joint Chapter 11 Plan dated September 2, 2025.
LifeScan is a leader in delivering personalized health, wellness,
and digital solutions to individuals living with diabetes.
Since 1981, LifeScan has advanced glucose care and diabetes
management with pioneering technologies and new products, and is
actively engaged in designing, developing, manufacturing, and
marketing devices, software, and applications. Its comprehensive
portfolio of diabetes-related products and services includes blood
glucose monitoring ("BGM") devices, blood glucose test strips,
lancing devices, and digital applications.
LifeScan has entered into a Restructuring Support Agreement with
certain of the Debtors' creditors (the "Consenting Lenders"), a
copy of the most recently amended form of which is attached hereto
as Exhibit B (the "Restructuring Support Agreement"), that allows
them to effectuate a recapitalization pursuant to the terms of the
Plan. The Debtors anticipate the proposed restructuring to improve
their financial condition and credit worthiness and ensure their
continued operations as a going concern.
LifeScan has commenced these Chapter 11 Cases with a clear path to
consummate a value-maximizing transaction that eliminates
approximately $1.4 billion in liabilities pursuant to a chapter 11
plan. The Plan is supported by approximately 97% of secured
creditors and LifeScan's equity sponsor, each of whom are party to
a revised restructuring support agreement (the "Revised RSA")
setting forth the terms of the restructuring. For more than the
past ten months, LifeScan has engaged in negotiations with
stakeholders at every level of its capital structure and has
determined that efficient confirmation of the Plan is the best
outcome for all stakeholders.
Specifically, emerging from chapter 11 quickly will best position
LifeScan to minimize disruptions to its business, to maximize tax
efficiency, and to explore opportunities for growth, including into
the continuous glucose monitoring ("CGM") market. But, recognizing
the fact that all confirming the Plan may not be feasible, LifeScan
will also dual-track a sale process pursuant to section 363 of the
Bankruptcy Code inside of chapter 11 to market test the Plan and
determine if a superior sale transaction may be available. After
more than ten months of extensive stakeholder negotiations, the
time has come to execute the restructuring and position LifeScan
for its next chapter of growth.
As set forth in the Original RSA, and subsequent A&R RSA and Second
A&R RSA, the debtors and the Consenting Lenders agree to mutually
support confirmation of the Plan and the consummation of the
Restructuring. Following the amendment and restatement to the RSA,
respectively, have agreed to support the Restructuring and vote to
accept the Plan by executing the RSA.
The Plan contemplates the following stakeholder recoveries:
* Except to the extent a Holder agrees to less favorable
treatment, each Holder of an Allowed Other Secured Claim shall
receive, at the option of the Debtors, in full and final
satisfaction of its Allowed Other Secured Claim: (i) Cash in an
amount equal to such Allowed Claim on the later of (a) the
Effective Date or as soon as reasonably practicable thereafter and
(b) the date that is ten Business Days after the date on which such
Other Secured Claim becomes an Allowed Other Secured Claim; (ii)
reinstatement of its Allowed Other Secured Claim; or (iii) such
other treatment so as to render such Allowed Other Secured Claim
Unimpaired;
* Except to the extent that a Holder agrees to less favorable
treatment, each Holder of an Allowed Other Priority Claim shall
receive, in full and final satisfaction of its Allowed Other
Priority Claim, (i) Cash in an amount equal to such Allowed Claim,
(ii) reinstatement of its Allowed Other Priority Claims or (iii)
other treatment consistent with section 1129(a)(9) of the
Bankruptcy Code, as to render such Allowed Other Priority Claim
Unimpaired, in each case, payable on the later of (a) the Effective
Date or as soon as reasonably practicable thereafter and (b) the
date that is ten Business Days after the date on which such Other
Priority Claim becomes an Allowed Other Priority Claim;
* Except to the extent that a Holder agrees to a less
favorable treatment, each Holder of an Allowed First Lien Term Loan
Claim shall receive, in full and final satisfaction of its First
Lien Term Loan Claim, its pro rata share of (i) First Lien
Emergence Excess Cash and (ii) the New First Lien Term Loans,
subject to the Equitization Election;
* Except to the extent that such Holder agrees to a less
favorable treatment, each Holder of an Allowed Second Lien Secured
Claim shall receive, in full and final satisfaction of such Claim,
its pro rata share of 100% of the Reorg Equity, subject to dilution
by any Reorg Equity in the 1L TL Equitization Pool, the Advisory
Equity and the Management Incentive Plan;
* Each Holder of an Allowed Third Lien Term Loan Claim shall
receive, in full and final satisfaction of such Claim, its pro rata
share of (i) $9.25 million in Cash, plus (ii) any portion of the
Third Lien Restructuring Expenses Amount not used to pay the
Restructuring Expenses of the Specified Third Lien Parties.
* Each Holder of an Allowed General Unsecured Claim shall
receive, in full and final satisfaction of its General Unsecured
Claim, its pro rata share of the GUC Pool;
* All Intercompany Claims and Intercompany Interests will be
adjusted, reinstated, or cancelled, to the extent determined to be
appropriate by the Reorganized Debtors and the Required Consenting
Lenders, each acting reasonably; and
* All Existing Equity Interests shall be cancelled, released,
and extinguished, and their Holders shall neither receive nor
retain any property on account of such Interests.
Class 6 consists of General Unsecured Claims. Each Holder of an
Allowed General Unsecured Claim shall receive, in full and final
satisfaction of its General Unsecured Claims, its pro rata share of
the GUC Pool. For the avoidance of doubt, General Unsecured Claims
shall be classified and vote on a Debtor-by-Debtor basis. The
allowed unsecured claims total $1.116 billion. This Class will
receive a distribution of 1% of their allowed claims. This Class is
impaired.
Pursuant to section 1123 of the Bankruptcy Code and Bankruptcy Rule
9019, and in consideration for the classification, Distributions,
releases, and other benefits provided under the Plan, upon the
Effective Date, the provisions of the Plan shall constitute a good
faith compromise and settlement of all Claims, Interests, and
controversies resolved pursuant to the Plan that a Claim or an
Interest Holder may have with respect to any Allowed Claim or
Allowed Interest or any Distribution to be made on account of such
Allowed Claim or Allowed Interest, including pursuant to the
transactions set forth in the Restructuring Support Agreement.
The Debtors shall fund distributions under the Plan with (a) the
issuance of the Reorg Equity, (b) the issuance of or borrowings
under (i) the New Revolving Facility and (ii) the New First Lien
Term Loan Facility, and (c) Cash on hand. Each such distribution
and issuance referred to in Article IV of the Plan shall be
governed by the terms and conditions set forth in the Plan
applicable to such distribution or issuance and by the terms and
conditions of the instruments or other documents evidencing or
relating to such distribution or issuance, which terms and
conditions shall bind each Person or Entity receiving such
distribution or issuance without the need for execution by any
party thereto other than the applicable Reorganized Debtor(s).
A full-text copy of the Disclosure Statement dated September 2,
2025 is available at https://urlcurt.com/u?l=9XMgHW from Epiq
Corporate Restructuring, LLC, claims agent.
Proposed Co-Counsel to the Debtors:
John F. Higgins, Esq.
M. Shane Johnson, Esq.
Megan Young-John, Esq.
James A. Keefe, Esq.
Grecia V. Sarda, Esq.
PORTER HEDGES LLP
1000 Main St., 36th Floor
Houston, Texas 77002
Tel: (713) 226-6000
Fax: (713) 226-6248
Email: jhiggins@porterhedges.com
sjohnson@porterhedges.com
myoung-john@porterhedges.com
jkeefe@porterhedges.com
gsarda@porterhedges.com
Proposed Co-Counsel to the Debtors:
Dennis F. Dunne, Esq.
Samuel Khalil, Esq.
Jaimie Fedell, Esq.
MILBANK LLP
55 Hudson Yards
New York, New York 10001
Tel: (212) 530-5000
Fax: (212) 530-5219
Email: ddunne@milbank.com
skhalil@milbank.com
jfedell@milbank.com
and
Andrew M. Leblanc, Esq.
Melanie Yanez, Esq.
MILBANK LLP
1850 K Street, NW
Suite 1100
Washington DC 20006
Tel: (202) 835-7500
Fax: (202) 263-7586
Email: aleblanc@milbank.com
myanez@milbank.com
About LifeScan Global Corporation
LifeScan delivers personalized health, wellness, and digital
solutions to individuals living with diabetes. Since 1981, LifeScan
has advanced glucose care and diabetes management with pioneering
technologies and new products, and is actively engaged in
designing, developing, manufacturing, and marketing devices,
software, and applications. Its comprehensive portfolio of
diabetes-related products and services includes blood glucose
monitoring devices, blood glucose test strips, lancing devices, and
digital applications.
LifeScan Global Corp. sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 25-90259) on July
15, 2025. As of the Petition Date, the Debtors have approximately
$786 million assets and approximately $1.7 billion in liabilities.
Judge Alfredo R Perez presides over the case.
Porter Hedges LLP is the Debtor's legal counsel, Milbank LLP is
co-counsel, and PJT Partners LP is the investment banker.
LINDEN LOCAL: Seeks Chapter 7 Bankruptcy in New York
----------------------------------------------------
On September 4, 2025, Linden Local Corp. a New York-based company,
voluntarily filed for Chapter 7 protection in the Eastern District
of New York bankruptcy court. The filing lists liabilities in the
range of $100,001 to $1 million. According to court records, the
company has between one and 49 creditors affected by the
liquidation proceedings.
About??Linden Local Corp.
Linden Local Corp. is a single asset real estate company.
Linden Local Corp. sought relief under Chapter 7 of the U.S.
Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-44231) on September 4,
2025. In its petition, the Debtor reports estimated assets and
liabilities between $100,001 and $1 million.
Honorable Bankruptcy Judge??Jil Mazer-Marino handles the case.
LINQTO TEXAS: Deaton Law Files Supplemental Rule 2019 Statement
---------------------------------------------------------------
The law firm of Deaton Law Firm, LLC, filed a supplemented verified
statement pursuant to Rule 2019 of the Federal Rules of Bankruptcy
Procedure to disclose that in the Chapter 11 cases of Linqto Texas,
LLC and its affiliates, the firm represents multiple creditors.
The creditors have engaged Counsel for the purpose of collectively
asserting and protecting their respective interests in this Chapter
11 case. This group was informally organized on or about July 24,
2025 and does not constitute an official committee appointed
pursuant to Section 1102 of the Bankruptcy Code.
Counsel has been retained by each creditor individually, though the
creditors have agreed to coordinate their interests in these
proceedings. Counsel is not being compensated for this
representation.
Name Mailing Address Investments Total
amount invested (in USD)
---- --------------- ----------- ----------------------------
Aaron Booth 25923 W Firehawk Dr Ripple 2528.22
Buckeye, AZ 85396
Aaron Chan 764 Anacapa Ct, Ripple, SpaceX,
45,157.30
Milpitas, CA 95035 Zipline
Aaron Cook 925 ROBIN CT. Geneseo Ripple, Polysign 65,000
IL 61254 Uphold, Linqto
Aaron Freeman 3820 34th Ave Ripple, Uphold, Linqto, Groq
$55,080
SW, Seattle, WA 98126
Aaron Gilley 2809 Clays Mill Road, Ripple - 2551 Units
$150,078.77
Lexington, KY, 40503 Polysign - 3247 Units
@$2.77/unit
Aaron Sexton 570 Fox Drive Choctaw Ripple, BitPay
$25,000
OK 73020
Abbas Paymard 31290 La Baya Drive, #6 Ripple + Polysign
$7,500.00
Abderrafie Lakhal 13107 SW Merlin PL Ripple 6000
Abe Saadeh 7151 Lyne Bay Drive Ripple
$15,000
Abraham Elias Rodriguez 1130 Lomitas Ave, Space X, Ripple
Nashville TN 37206 Polysign, Automation
Anywhere, Addepar, Kraken, Axiom 106,372.37
ICO
Space, XAI, Linqto and Lambda Labs
Abraham Elias Rodriguez 1130 Lomitas Ave Space X, Ripple,
Polysign, Automation Anywhere, Addepar, Kraken
and Lambda Labs 106,372.37
ICO
Abraham Rodriguez 13523 Banner Rd Spring Ripple, Xai, Linqto
Hill FL, 34609 10,041.78
Abrom Shepard 102 Hooker Pl, Ripple, Cerebras, xAI 7,590.28
Staten Island, NY 10302
Achyut Adhikari 4 Pebble Beach Ct. Ripple , avathon 10000
Mechanicsburg, PA 17050.
Adalberto Marin 6 Newell Court, APT 6310, East Palo Alto
$7,500.00
PolySign
Adalberto Marte 820 Orchard Dr., Ripple 12,531.75
Prosper TX, 75078
Adam Afifi 45 Aveia Private, Ripple ipo shares 3300
Ottawa, Ontario, Canada, K4A0X1
Adam Calder 1025 RIVERLAND Woods POLYSIGN 7000
place #309 Charleston SC 29412
Adam Cook 8 Mill Lane, Saxilby, Ripple, Circle,
$190,921.64
Lincoln. LN12QD Cerebras, Uphold, Glint, Space X, Anthropic
Adam grill 850 Bloomfield Ave. Apt 3c. Ripple 1000
Montclair, nj 07042
A list of creditors' address and the nature and amount of
disclosable economic interests is available at
https://urlcurt.com/u?l=4v9X78
The law firm can be reached at:
Deaton Law Firm, LLC
John E. Deaton, Esq.
450 N Broadway
East Providence, RI 02914
401 351 6400
Email: all-deaton@deatonlawfirm.com
About Linqto Inc.
Linqto Inc. is a San Jose-based financial technology company
operating in the alternative investment space.
Linqto Inc. sought relief under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. S.D. Tex. Case No. 25-90187) on July 7, 2025. In its
petition, the Debtor reports estimated assets and liabilities
between $500 million and $1 billion.
Judge Alfredo R. Perez oversees the case.
The Debtor is represented by Gabrielle A. Hamm, Esq. at Schwartz,
PLLC. Breakpoint Partners LLC is the Debtor's restructuring
advisor. Epiq Corporate Restructuring, LLC, is the Debtor's claims
agent. ThroughCo Communications, LLC, is the Debtor's public
relations agent.
Sandton Capital Solutions Master Fund VI, LP, as DIP Lender, may be
reached through:
Robert Rice
Sandton Capital Partners
16 West 46th Street, 11th Floor
New York, NY 10036
Direct: 310.600.3980
Office: 212.444.7200
Sandton is represented by its attorneys:
Kristen L. Perry, Esq.
Faegre Drinker Biddle & Reath, LLP
2323 Ross Avenue, Suite 1700
Dallas, TX 75201
Tel: (469) 357-2500
Fax: (469) 327-0860
Email: kristen.perry@faegredrinker.com
-- and --
Richard J. Bernard, Esq.
Faegre Drinker Biddle & Reath, LLP
1177 Avenue of the Americas, 41st Floor
New York, NY 10036
Tel: (212) 248-3263
Fax: (212) 248-3141
Email: richard.bernard@faegredrinker.com
-- and --
Michael R. Stewart, Esq.
Adam C. Ballinger, Esq.
Faegre Drinker Biddle & Reath, LLP
2200 Wells Fargo Center
90 South 7th Street
Minneapolis, MN 55402
Telephone: (612) 766-7000
Facsimile: (612) 766-1600
Email: michael.stewart@faegredrinker.com
adam.ballinger@faegredrinker.com
LION RIBBON: Taps Deloitte Tax as Tax Advisory Services Provider
----------------------------------------------------------------
Lion Ribbon Texas Corp. and its affiliates seek approval from the
U.S. Bankruptcy Court for the Southern District of Texas to employ
Deloitte Tax LLP as tax advisory services provider.
The firm will provide these services:
(a) Engagement Letter - provide tax advisory services on
federal, foreign, state, and local tax matters as requested and
agreed to by the Debtors for the period through March 31, 2026.
(b) Tax Compliance Work Order - prepare the Debtors' 2025
federal, state and local income tax returns, as well as assist in
calculating the amounts of extension payments, preparing extension
requests, and calculating 2026 quarterly estimated tax payments as
requested.
(c) Debt Restructuring Work Order - provide tax advisory
services with respect to the Debtors' federal and state income tax
considerations in connection with their debt restructuring and
bankruptcy filing as follows:
(i) advise the Debtors as they consult with their legal
and financial advisors on the cash tax effects of restructuring,
bankruptcy and the post restructuring tax profile;
(ii) advise the Debtors regarding the restructuring and
bankruptcy emergence process from a tax perspective;
(iii) advise the Debtors on the cancellation of debt
income for tax purposes under Internal Revenue Code Section 108;
(iv) advise the Debtors on post-restructuring tax
attributes available under the applicable tax regulations and the
reduction of such attributes based on the Debtors' operating
projections;
(v) advise the Debtors on net built-in gain or net
built-in loss position at the time of "ownership change";
(vi) if eventually applicable, advise the Debtors on the
effects of tax rules under IRC sections 382(l)(5) and (l)(6)
pertaining to the post-bankruptcy net operating loss carryovers and
limitations on their utilization, and their ability to qualify for
IRC section 382(l)(5);
(vii) advise the Debtors as to the treatment of
post-petition interest for federal and state income tax purposes;
(viii) advise the Debtors as to the state and federal
income tax treatment of pre-petition and post-petition
reorganization costs;
(ix) advise the Debtors with their evaluation and
modeling of the tax effects of liquidating, disposing of assets,
merging or converting entities as part of the restructuring;
(x) advise the Debtors on state income tax treatment and
planning for restructuring or bankruptcy provisions in various
jurisdictions;
(xi) advise the Debtors on responding to tax notices and
audits from various taxing authorities;
(xii) assist the Debtors by identifying potential tax
refunds and advise them on procedures for tax refunds from tax
authorities;
(xiii) advise the Debtors on income tax return reporting
of restructuring and/or bankruptcy issues and related matters;
(xiv) assist the Debtors with documenting as appropriate,
the tax analysis, development of their opinions, recommendation,
observations, and correspondence for any proposed restructuring
alternative tax issue or other tax matter described above;
(xv) advise the Debtors with respect to non-U.S. tax
implications and structuring alternatives;
(xvi) advise the Debtors with respect to their efforts to
calculate tax basis in the stock of each of their subsidiaries or
other equity interests;
(xvii) advise the Debtors with respect to their efforts
to calculate tax basis in assets by entity; and
(xviii) as requested by the Debtors and as may be agreed
to by Deloitte Tax, advise the Debtors regarding other state,
federal, or international income tax questions that may arise in
the course of this engagement.
The firm will be paid at these fees:
(a) Tax Compliance Work Order - $295,000
(b) Tax Compliance Out-of-Scope Services:
Partner/Principal/Managing Director $1,420
Senior Manager $1,240
Manager $1,060
Senior $910
Associate $770
(c) Debt Restructuring Work Order
Partner/Principal/Managing Director $1,235
Senior Manager $1,085
Manager $925
Senior $800
Associate $670
In addition, the firm will seek reimbursement for expeses
incurred.
Nicholas Anselmo, a partner at Deloitte Tax, disclosed in a court
filing that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
Nicholas Anselmo
Deloitte Tax LLP
1111 Bagby Street, Suite 4500
Houston, TX 77002
About Lion Ribbon Texas Corp.
Lion Ribbon Texas Corp. and affiliates design, manufacture, and
distribute consumer crafting, gifting, and stationery products for
celebrations, hobbies and creative play. They operate globally,
with facilities across North America and supporting operations in
India, Hong Kong, China, the United Kingdom, and Australia. They
supply both branded and private-label products to consumers and
major corporate clients.
The Debtors sought relief under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. S.D. Tex. Lead Case No. 25-90164) on July 3, 2025. In
their petitions, the Debtors reported $100 million to $500 million
in assets and liabilities on a consolidated basis.
Judge Christopher M. Lopez handles the cases.
The Debtors are represented by Caroline A. Reckler, Esq., Ray C.
Schrock, Esq., Adam S. Ravin, Esq., Randall Carl Weber-Levine,
Esq., and Meghana Vunnamadala, Esq., at Latham & Watkins, LLP. The
Debtors tapped Huron Consulting Services, LLC as investment banker
and financial advisor; Deloitte Tax, LLP as tax services provider;
Liskow & Lewis, APLC as conflicts counsel; C Street Advisory Group,
LLC as communications advisor; and Kroll Restructuring
Administration, LLC as claims, noticing and solicitation agent.
On July 22, 2025, the Office of the U.S. Trustee appointed an
official committee of unsecured creditors in these Chapter 11
cases. The committee tapped Lowenstein Sandler LLP and Orrick,
Herrington & Sutcliffe LLP as counsel.
M & M FARMS: Case Summary & Two Unsecured Creditors
---------------------------------------------------
Debtor: M & M Farms, Inc.
8035 McKnight Road
Suite 302
Pittsburgh, PA 15237
Chapter 11 Petition Date: September 8, 2025
Court: United States Bankruptcy Court
Western District of Pennsylvania
Case No.: 25-22397
Debtor's Counsel: Dennis J. Spyra, Esq.
DENNIS J. SPYRA
1711 Lincoln Way
White Oak, PA 15131
Tel: (412) 673-5228
Fax: (412) 774-1713
Email: dennis@spyralawoffice.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $100,000 to $500,000
The petition was signed by Matthew H. Moraitis as authorized
representative of the Debtor.
A full-text copy of the petition, which includes a list of the
Debtor's two unsecured creditors, is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/ZAJCOZA/M__M_Farms_Inc__pawbke-25-22397__0001.0.pdf?mcid=tGE4TAMA
MANE SOURCE: Unsecured Creditors to Split $94K over 7 Years
-----------------------------------------------------------
Mane Source Counseling, PLLC submitted an Amended Disclosure
Statement describing Amended Chapter 11 Plan dated August 29,
2025.
Upon confirmation of this Plan, Debtor will continue to operate and
make plan payments from funds available after the payment of
operating expenses. Debtor has continued to operate with a net
profit during the course of the bankruptcy, and hired one
additional part-time clinician.
Over the course of the next six months, Debtor anticipates hiring
one to two additional clinicians to offer therapy services for the
Debtor. Addition of these clinicians is anticipated to increase the
net profit of the Debtor.
Class 3 is comprised of the Allowed Priority Claims which are not
Priority Tax Claims, including wage claims present and former
contractors and employees. Class 3 shall be amortized and paid over
7 years until paid in full with seven percent interest. The Debtor
estimates that Class 3 Claims will total $48,078.50.
Class 4 is comprised of the Allowed Secured Claims of Southern
Bank. Class 4 Claimants shall retain their liens to secure payment
of the Class 4 Claims pursuant to the terms of this Plan. Class 4
claims shall be amortized over 15 years with seven and a half
percent interest and paid in equal monthly payments with a balloon
payment eight years from the Effective Date, on which date the
remaining outstanding balance shall be due. After eight years,
Class 4 Claimants may modify the terms of the remaining payments
upon terms agreed to by both parties. The Debtor estimates that
Class 4 Claims will total $114,461.90 based on the proof of claim
filed by Southern Bank.
Class 5 is comprised of the Allowed Secured Claims of the United
States Small Business Administration. Class 5 Claimants shall
retain their liens to secure payment of the Class 5 Claims pursuant
to the terms of this Plan. Class 5 claims shall be amortized and
paid over twenty-two years until paid in full with seven percent
interest. The Debtor estimates that Class 5 Claims will total
$97,863.31.
Class 6 is comprised of the Allowed General Unsecured Claims. Class
6 Claims shall be paid quarterly for seven years as follows until
the Class 6 claims are paid in full or a maximum amount of $94,000
has been paid:
Year 1: Quarterly payments of $500
Years 2-3: Quarterly Payments of $1,500
Years 4: Quarterly Payments of $2,500
Year 5: Quarterly Payments of $3,750
Year 6: Quarterly Payments of $6,250
Year 7: Quarterly Payments of $7,500
The Debtor estimates that Class 6 claims currently total
$325,219.47 based on scheduled claims and filed proofs of claim,
but that this number will be reduced due to disputes and claims
objections.
The Plan will be consummated and distributions made if the Plan is
confirmed pursuant to a Final Order of the Bankruptcy Court. It
will not be necessary for the Debtor to await any required
regulatory approvals from agencies or departments of the United
States Government to consummate the Plan. The Plan will be
implemented pursuant to its provisions and the provisions of the
Bankruptcy Code.
A full-text copy of the Amended Disclosure Statement dated August
29, 2025 is available at https://urlcurt.com/u?l=IOkgq8 from
PacerMonitor.com at no charge.
About Mane Source Counseling PLLC
Mane Source Counseling, PLLC, provides counseling and wellness
services with the help of five horses used in therapy sessions.
Mane Source Counseling sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. E.D. N.C. Case No. 25-00833) on March
7, 2025, listing up to $500,000 in assets and up to $1 million in
liabilities. Cheryl Meola, company owner, signed the petition.
Judge David M. Warren oversees the case.
The Debtor is represented by:
Kathleen O'Malley, Esq.
Stevens Martin Vaughn & Tadych, PLLC
2225 W. Millbrook Road
Raleigh, NC 27612
Phone: 919-582-2300
Fax: (866) 593-7695
Email: komalley@smvt.com
MARK L. OBMAN DDS: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Mark L. Obman, D.D.S., P.A.
2708 Park Drive
Clearwater, FL 33763
Business Description: Mark L. Obman, D.D.S., P.A. provides
general, restorative, cosmetic, and implant
dentistry services from its office at 2708
Park Drive in Clearwater, Florida, serving
patients in the Tampa Bay area. The
practice specializes in full-mouth
reconstruction, TMJ treatment, sedation
dentistry, and periodontal therapy, and it
integrates advanced dental technologies
including laser dentistry and digital
imaging. Dr. Mark L. Obman, a Creighton
University School of Dentistry graduate and
former Army Dental Corps officer, leads the
practice.
Chapter 11 Petition Date: September 8, 2025
Court: United States Bankruptcy Court
Middle District of Florida
Case No.: 25-06496
Debtor's Counsel: Buddy D. Ford, Esq.
FORD & SEMACH, P.A.
9301 West Hillsborough Avenue
Tampa, FL 33615-3008
Tel: (813) 877-4669
Fax: (813) 877-5543
E-mail: All@tampaesq.com
Total Assets: $190,528
Total Liabilities: $1,740,074
The petition was signed by Mark L. Obman, D.D.S. as director.
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/QQVXATY/Mark_L_Obman_DDS_PA__flmbke-25-06496__0001.0.pdf?mcid=tGE4TAMA
MARKUS CORP: Court Extends Cash Collateral Access to Sept. 30
-------------------------------------------------------------
Markus Corp received interim approval from the U.S. Bankruptcy
Court for the Northern District of Illinois to use cash collateral
until September 30, marking the seventh extension since its Chapter
11 filing.
The Debtor needs to use its lenders' cash collateral to pay the
expenses set forth in its budget, which shows total operational
expenses of $22,250 for the period from September 1 to 30.
The Debtor owes $426,224.08 and $264,476.06 to the U.S. Small
Business Administration and Village Bank & Trust, N.A.,
respectively. These creditors have perfected liens on the Debtor's
assets, including cash, bank deposits and accounts receivable,
which constitute cash collateral.
As adequate protection, both lenders will be granted a replacement
lien on substantially all of the Debtor's assets, including those
acquired after its Chapter 11 filing. This replacement lien will
have the same validity and extent as the secured creditors'
pre-bankruptcy liens.
The lenders will also be granted an administrative expense claim as
additional protection.
The next hearing is scheduled for September 30.
SBA and Village Bank & Trust have a valid blanket lien on assets of
the Debtor as of the petition date including the cash proceeds.
Both hold a security interest in all assets of the Debtor by way of
a valid lien. The Debtor believes SBA's lien has the first priority
position.
About Markus Corporation
Markus Corp is an owner and operator of three semi-trucks and hauls
cargo for its client.
Markus filed Chapter 11 petition (Bankr. N.D. Ill. Case No.
25-03310) on March 4, 2025, listing up to $100,000 in assets and up
to $1 million in liabilities. Markus President Marek Kusmierczyk
signed the petition.
Judge Timothy A. Barnes oversees the case.
Arthur Corbin, Esq., at Corbin Law Firm, LLC, represents the Debtor
as bankruptcy counsel.
Village Bank & Trust, N.A., as secured lender, is represented by:
Jeffrey S. Burns, Esq.
Markoff Leinberger, LLC
200 S. Wacker Drive, FL 31
Chicago, IL 60606
Tel: (312) 589-7600
jeff@markleinlaw.com
MARQUIE GROUP: Ends Buy-Sell Deal Between CEO and Ryan O'Leary
--------------------------------------------------------------
The Marquie Group Inc. publicly announced via a Form 8-K filing
with the U. S. Securities and Exchange Commission that the
previously announced buy-sell stock agreement between the company's
Chief Executive Officer, Marc Angell, and Ryan O'Leary has been
terminated. The parties were unable to finalize mutually acceptable
terms.
Marc Angell stated, "I wish Ryan continued success in his future
endeavors and sincerely thank him for the time and effort he
invested in exploring this opportunity."
About Marquie Group Inc.
The Marquie Group, Inc. -- www.themarquiegroup.com -- is an
emerging direct-to-consumer firm specializing in marketing, product
development, and media, with a focus on a dynamic radio and digital
network. The Company crafts and promotes top-tier health and
beauty solutions that enrich lives, showcased through engaging
radio content for its audience.
Lagos, Nigeria-based Olayinka Oyebola & Co., the Company's auditor
since 2024, issued a "going concern" qualification in its report
dated Sept. 3, 2024. The report highlights that at May 31, 2024,
the Company suffered an accumulated deficit of $14,863,486 and net
a loss of $165,456. These factors raise substantial doubt
regarding the Company's ability to continue as a going concern.
As of February 28, 2025, the Company had $6.25 million in total
assets, $5.34 million in total liabilities, and $906,442 in total
stockholders' equity.
MIDSOUTH AUTO: Case Summary & Eight Unsecured Creditors
-------------------------------------------------------
Debtor: MidSouth Auto & Truck Sales, LLC
3635 14th St.
Pascagoula, MS 39567
Business Description: Midsouth Auto & Truck Sales, Inc. is a used
car dealership based in Pascagoula,
Mississippi, offering pre-owned cars,
trucks, and sport utility vehicles across
multiple brands including Ford, Chevrolet,
GMC, Jeep, Nissan, and Toyota. The Company
operates a virtual showroom where customers
can browse inventory, view detailed vehicle
information, and schedule visits. It serves
the Pascagoula area through its sales lot
located at 3635 14th Street.
Chapter 11 Petition Date: September 4, 2025
Court: United States Bankruptcy Court
Southern District of Mississippi
Case No.: 25-51311
Judge: Hon. Katharine M Samson
Debtor's Counsel: Patrick Sheehan, Esq.
SHEEHAN AND RAMSEY, PLLC
429 Porter Ave
Ocean Springs, MS 39564
Tel: 228-875-0572
E-mail: Pat@sheehanramsey.com
Estimated Assets: $100,000 to $500,000
Estimated Liabilities: $1 million to $10 million
The petition was signed by Brittney W. Shelly as member and
manager.
A copy of the Debtor's list of eight unsecured creditors is
available for free on PacerMonitor at:
https://www.pacermonitor.com/view/AOS2F7I/MidSouth_Auto__Truck_Sales_LLC__mssbke-25-51311__0001.0.pdf?mcid=tGE4TAMA
A full-text copy of the petition is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/AOS2F7I/MidSouth_Auto__Truck_Sales_LLC__mssbke-25-51311__0001.0.pdf?mcid=tGE4TAMA
MINORTICO REALTY: Seeks to Hire Narissa A. Joseph PC as Attorney
----------------------------------------------------------------
Minortico Realty Corp. seeks approval from the U.S. Bankruptcy
Court for the Eastern District of New York to hire Law Office of
Narissa A. Joseph PC as attorney.
The firm's services include:
(a) consulting with the Debtor concerning the administration of
the case;
(b) investigating the Debtor's past transactions, commencing
actions with respect to the Debtor's avoiding powers under the
Bankruptcy Code; and advising the Debtor with respect to
transactions entered into during the pendency of the Debtor's case;
(c) assisting the Debtor in the formation of a Chapter 11 plan;
and
(d) performing any and all such other legal services as may
required by the Debtor in the interest of the estate.
The firm will be paid at these hourly rates:
Partner $350 - $400
Associate $275 - $300
Clerks/Paraprofessional $75 - $100
Narissa Joseph, Esq., an attorney at 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:
Narissa A. Joseph, Esq.
Law Office of Narissa A. Joseph
305 Broadway, Suite 1001
New York, NY 10007
Telephone: (212) 233-3060
About Minortico Realty Corp.
Minortico Realty Corp. is a New York-based single asset real estate
company with principal assets located at 967 Nostrand Avenue in
Brooklyn, New York.
Minortico Realty Corp. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-43261) on July 9,
2025. In its petition, the Debtor reports $24.9 million in assets
and $16.6 million in liabilities.
The Debtors are represented by Narissa A. Joseph, Esq.
MOSAIC CO: Claims Filing Deadline Set for Sept. 10, 2025
--------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware set Sept.
10, 2025, at 5:00 p.m. (prevailing Eastern Time) as the last date
and time for persons or entities to file their proofs of claim
against Mosaic Companies LLC and its debtor-affiliates.
The Court also set Jan. 5, 2025, at 5:00 p.m. (prevailing Eastern
Time) as the deadline for all governmental units to file their
claims against the Debtors.
A proof of claim may be filed in paper form. An original, signed
copy of the proof of claim must be sent so as to be actually
received on or before the applicable Bar Date as follows:
If by First-Class Mail:
Mosaic Companies, LLC
Claims Processing
c/o Epiq Corporate Restructuring, LLC
P.O. Box 4419
Beaverton, OR 97079-4419
If by Hand Delivery or Overnight Mail:
Mosaic Companies, LLC
Claims Processing
c/o Epiq Corporate Restructuring, LLC
10300SW Allen Blvd.
Beaverton, OR 97005
A proof of claim may be filed electronically at
https://dm.epiq11.com/MosaicCompanies using the interface available
after clicking the link entitled "File a Claim." A claim must be
submitted so as to be actually received on or before the applicable
Bar Date.
Proofs of claim sent by means other than as described above,
including by means of email or fax, will not be accepted.
If you have any questions relating to this notice, please contact
the Debtors' notice and claims agent, Epiq, at (888) 863-4070 or at
https://dm.epiq11.com/case/mosaiccompanies/info.
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.
MOSAIC COMPANIES: Committee Hires Gilbert as Insurance Counsel
--------------------------------------------------------------
The official committee of unsecured creditors appointed in the
Chapter 11 cases of Mosaic Companies, LLC and its affiliates seeks
approval from the U.S. Bankruptcy Court for the District of
Delaware to employ Gilbert LLP as special insurance counsel.
The firm will provide these services:
(a) analyze the Debtors' insurance policies and providing
strategic advice as to the coverage potentially available to
respond to claims;
(b) advise the committee on preserving insurance coverage and
maximizing insurance recoveries;
(c) attend meetings and negotiate with the committee,
representatives of the Debtors, their insurance carriers, and other
parties-in-interest in these Chapter 11 cases related to the
preservation and recovery of insurance coverage;
(d) advise and represent the committee with respect to any
insurance settlements executed prior to the commencement of these
Chapter 11 cases;
(e) advise and represent the committee with respect to the use
of insurance coverage and insurance proceeds in connection with a
plan of reorganization;
(f) advise and represent the committee with respect to other
matters and pleadings that may be raised by insurers or that may
impact insurance coverage;
(g) advise and represent the committee in any dispute that may
arise including, but not limited to, an adversary proceeding,
arbitration, or mediation related to insurance coverage; and
(h) assist the committee with any other insurance-related
matters arising in conjunction with the formulation of a plan of
reorganization and funding of a trust for the payment of claims
established under the plan.
The firm's professionals will be paid at these hourly rates:
Partners $1,025 - $1,700
Senior Counsel/Of Counsel $925 - $1,550
Associates $360 - $900
Paralegals $250 - $440
Other Pararofessional Staff $350 - $600
In addition, the firm will seek reimbursement for expenses
incurred.
The firm received a pre-petition retainer of $15,000 from the
Debtor.
Kami Quinn, a partner at Gilbert, 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:
Kami E. Quinn, Esq.
Gilbert LLP
700 Pennsylvania Ave. SE Ste. 400
Washington, CO 20003
Telephone: (202) 772-2200
About Mosaic Companies LLC
Mosaic Companies, LLC and its affiliates filed their voluntary
petitions for relief under Chapter 11 of the Bankruptcy Code
(Bankr. D. Del. Lead Case No. 25-11296) on July 8, 2025. At the
time of filing, Mosaic Companies disclosed up to $50 million in
assets and up to $500 million in liabilities. The case is jointly
administered in Case No. 25-11296.
Judge Craig T. Goldblatt presides over the case.
Sophie Rogers Churchill, Esq., at Morris, Nichols, Arsht & Tunnell
LLP represents the Debtors as counsel.
On July 21, 2025, the Office of the U.S. Trustee for Region 3
appointed an official committee of unsecured creditors in these
Chapter 11 cases. The committee tapped Robinson & Cole LLP and
Caplin & Drysdale, Chartered as co-counsel; Gilbert as special
insurance counsel; and Province, LLC as financial advisor.
MOSAIC COMPANIES: North Hills Steps Down as Committee Member
------------------------------------------------------------
The U.S. Trustee for Region 3 disclosed in a court filing the
resignation of North Hills Industrial Park from the official
committee of unsecured creditors in the Chapter 11 cases of Mosaic
Companies, LLC and its affiliates.
The remaining members of the committee are:
1. G.R. Marmi s.r.l.
Attn: David Peselli and Stefano Sanzani
Via Longobarda 31, Massa
Italy
Phone: +39 3453730821
david@grmarmi.it
stefano@grmarmi.it
2. Maria del Socorro Sanchez Quesada
for decedent Juan Rodrigo Gonzalez-Morin
Attn: Alan Brayton and Bryn Letsch
Brayton Purcell LLP
222 Rush Landing Road
Novato, CA 94945
Phone: 415-898-1555
bletsch@braytonlaw.com
3. Adan Gomez-Rivera
Attn: Alan Brayton and Bryn Letsch
Brayton Purcell LLP
222 Rush Landing Road
Novato, CA 94945
Phone: 415-898-1555
bletsch@braytonlaw.com
4. Oscar Antonio Alvarado-Ortiz
Attn: Alan Brayton and Bryn Letsch
Brayton Purcell LLP
222 Rush Landing Road
Novato, CA 94945
Phone: 415-898-1555
bletsch@braytonlaw.com
About Mosaic Companies
Mosaic Companies, LLC sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-11296) on July 8,
2025. In the petition signed by Randall Jackson, group president
and chief executive officer, the Debtor disclosed up to $50 million
in assets and up to $500 million in liabilities.
Judge Craig T. Goldblatt oversees the case.
Mathew B. Harvey, Esq., at Morris, Nichols, Arsht & Tunnell LLP,
represents the Debtor as legal counsel.
The U.S. Trustee for Region 3 appointed an official committee to
represent unsecured creditors in the Debtors' Chapter 11 cases. The
committee tapped Robinson & Cole, LLP and Caplin & Drysdale,
Chartered as legal counsel.
Truist Bank, as DIP Lender, is represented by:
Michael J. Merchant, Esq.
Jason M. Madron, Esq.
Richards, Layton & Finger, P.A.
One Rodney Square
920 North King Street
Wilmington, DE 19801
Telephone: (302) 651-7700
Facsimile: (302) 651-7701
merchant@rlf.com
madron@rlf.com
-- and --
Stephen E. Gruendel, Esq.
Matthew K. Taylor, Esq.
Moore & Van Allen, PLLC
100 North Tryon Street, Suite 4700
Charlotte, NC 28202-4003
Telephone: (704) 331-1000
Facsimile: (704) 378-1989
stevegruendel@mvalaw.com
matthewtaylor@mvalaw.com
MOUNTAINEER MERGER: S&P Suspends 'SD' LT Issuer Credit Rating
-------------------------------------------------------------
S&P Global Ratings has suspended its 'SD' (selective default)
long-term issuer credit rating on Mountaineer Merger Corp. (doing
business as Gabe's) This suspension is due to a lack of sufficient
and timely information necessary to maintain its ratings,
particularly audited and interim financial statements and new
capital structure details after completing a balance sheet
restructuring in August 2025. S&P also discontinued its 'D'
(default) issue-level rating on the company's previous secured debt
that no longer exists.
S&P said, "We will resume our surveillance and reinstate the
ratings once the missing data is available and meets our standards
for quantity, timeliness, and reliability. If our information
requirements for surveillance are not fulfilled within a reasonable
timeframe, we will withdraw the ratings."
MVP GROUP: Files Emergency Bid to Use Cash Collateral
-----------------------------------------------------
MVP Group, LLC asks the U.S. Bankruptcy Court for the Southern
District of Florida, Fort Lauderdale Division, for authority to use
cash collateral and provide adequate protection.
The Debtor needs to use cash collateral to cover necessary expenses
such as payroll, rent, and insurance. Two creditors -- Austin
Financial Services and Libertas Funding, LLC -- hold recorded UCC-1
liens that may affect the use of these funds.
Austin claims a secured debt of approximately $2.7 million while
Libertas claims $1.3 million. However, the Debtor asserts that
Austin is oversecured based on the estimated value of accounts
receivable ($1.35 million) and inventory ($4.02 million), and that
Libertas may be wholly unsecured due to lien priority.
As adequate protection, the Debtor offers Austin a continuing lien
on receivables and, if necessary, a replacement lien, subject to
certain conditions, including subordination to administrative and
professional fee carveouts and exclusion from avoidance actions
under 11 U.S.C. Sections 544???550.
The Debtor makes a similar offer of a conditional continuing lien
to Libertas but expressly reserves the right to challenge the
validity, extent, and priority of either creditor's lien.
About MVP Group LLC
MVP Group, LLC is a Fort Lauderdale-headquartered distributor of
commercial food service equipment. The Company supplies products to
restaurants, hotels, schools, government institutions, and other
foodservice operators, with clients including global chains such as
Subway, Burger King, Marriott and Best Western. MVP Group supports
its operations through a network of warehouses, inventory centers
and authorized service agents throughout North America.
MVP Group sought relief under Chapter 11 of the U.S. Bankruptcy
Code (Bankr.????S.D. Fla. Case No. 25-20199) on August 29, 2025. In
its petition, the Debtor reported estimated assets between $1
million and $10 million and estimated liabilities between $10
million and $50 million.
Honorable Bankruptcy Judge Scott M. Grossman handles the case.
The Debtor is represented by Michael D. Seese, Esq., at Seese, P.A.
MY STORE-SOLWAY: Mary Sieling Named Subchapter V Trustee
--------------------------------------------------------
The Acting U.S. Trustee for Region 12 appointed Mary Sieling as
Subchapter V trustee for My Store-Solway, Inc.
Ms. Sieling will be paid an hourly fee of $330 for her services as
Subchapter V trustee and an hourly fee of $200 for paralegal time.
In addition, the Subchapter V trustee will receive reimbursement
for work-related expenses incurred.
Ms. Sieling declared that she is a disinterested person according
to Section 101(14) of the Bankruptcy Code.
The Subchapter V trustee can be reached at:
Mary F. Sieling
150 South Fifth Street, Suite 3125
Minneapolis, MN 55402
Email: mary@mantylaw.com
About My Store-Solway
My Store-Solway, Inc. owns and operates a convenience store and
gasoline station at 4895 Jones Townhall Road NW, Solway, Minnesota,
serving local residents and travelers with fuel, snacks, and
essential supplies.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Minn. Case No. 25-60537) on September 2,
2025, with $156,000 in assets and $1,249,346 in liabilities. Nathan
Preuss, managing member, signed the petition.
Judge Shon Hastings oversees the case.
Kesha Tanabe, Esq., at Vogel Law Firm represents the Debtor as
bankruptcy counsel.
NAKED CUPCAKE: Aaron Cohen Named Subchapter V Trustee
-----------------------------------------------------
The Acting U.S. Trustee for Region 21 appointed Aaron Cohen, Esq.,
a practicing attorney in Jacksonville, Fla., as Subchapter V
trustee for The Naked Cupcake Orlando, LLC.
Mr. Cohen will be paid an hourly fee of $315 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.
Mr. Cohen declared that he is a disinterested person according to
Section 101(14) of the Bankruptcy Code.
The Subchapter V trustee can be reached at:
Aaron R. Cohen, Esq.
P.O. Box 4218
Jacksonville, FL 32201
Tel: (904) 389-7277
Email: aaron@arcohenlaw.com
About The Naked Cupcake Orlando
The Naked Cupcake Orlando, LLC filed a petition under Chapter 11,
Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No.
25-05495) on August 29, 2025, with up to $50,000 in assets and
$500,001 to $1 million in liabilities.
Judge Tiffany P. Geyer presides over the case.
L Todd Budgen, Esq., at Budgen Law Group represents the Debtor as
legal counsel.
NAVELLIER & ASSOCIATES: Case Summary & 11 Unsecured Creditors
-------------------------------------------------------------
Debtor: Navellier & Associates Inc.
1 E. Liberty Street
Suite 504
Reno, NV 89501
Business Description: Navellier & Associates Inc., based in Reno,
Nevada, provides investment advisory
services focused on growth investing
strategies, offering portfolio management
and financial planning to individual and
institutional clients. The firm was founded
by Louis G. Navellier and manages
discretionary assets while employing a
quantitative and fundamental approach to
stock selection.
Chapter 11 Petition Date: September 5, 2025
Court: United States Bankruptcy Court
District of Nevada
Case No.: 25-50820
Judge: Hon. Hilary L Barnes
Debtor's Counsel: Norma Guariglia, Esq.
HARRIS LAW PRACTICE LLC
850 E. Patriot Blvd.
Suite F
Reno, NV 89511
Tel: 775-786-7600
Fax: 775-786-7764
Email: norma@harrislawreno.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $10 million to $50 million
The petition was signed by Louis Navellier as president.
A full-text copy of the petition, which includes a list of the
Debtor's 11 unsecured creditors, is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/VAEUEUY/NAVELLIER__ASSOCIATES_INC__nvbke-25-50820__0001.0.pdf?mcid=tGE4TAMA
NB MOUNTAIN: Seeks to Hire Barth & Thompson as Local Counsel
------------------------------------------------------------
NB Mountain Valley, DST seeks approval from the U.S. Bankruptcy
Court for the Northern District of West Virginia to hire Barth &
Thompson as local counsel.
The firm will render these services:
(a) give legal advice with respect to Debtors' duties in these
cases and the management of assets;
(b) take all necessary action to protect and preserve Debtors'
estates, including the prosecution of actions on behalf of Debtors,
the defense of actions commenced against the Debtors, negotiations
concerning all litigation in which the Debtors are involved, and
objections to claims filed against the Debtors' estates;
(c) prepare, on behalf of the Debtors, all necessary motions,
answers, orders, reports and other legal papers in connection with
the administration of Debtors' estates;
(d) perform any and all other legal services for the Debtors
in connection with these chapter 11 cases, including the
formulation and implementation of a plan of reorganization or
effectuation of a sale or refinancing of the existing
Indebtedness;
(e) assist the Debtors in the preparation of and the filing of
a plan of reorganization at the earliest possible date; and
(f) perform such legal service as the Debtors may request with
respect to any matter appropriate to assisting the Debtors in their
effort to reorganize.
The firm's standard hourly rates are:
Stephen L. Thompson, Partner $500
J. Nicholas Barth, Partner $500
Christine Allen, Paralegal $200
Debra Hutcheson, Paralegal $200
Barth & Thompson received a retainer in the amount of $10,000.
The firm will also be reimbursed for reasonable out-of-pocket
expenses incurred.
Stephen Thompson, Esq., a partner at Barth & Thompson, 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:
Stephen L. Thompson, Esq.
Barth & Thompson
P. O. Box 129
Charleston, WV 25321
Tel: (304) 342-7111
Fax: (304) 342-6215
Email: sthompson@barth-thompson.com
About NB Mountain Valley, DST
NB Mountain Valley, DST owns the Mountain Valley Apartments, a
student- and professional-oriented residential complex located in
Morgantown, West Virginia, near West Virginia University.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. W.V. Case No. 5:25-bk-00456) on August
19, 2025. In the petition signed by Patrick Nelson, principal, the
Debtor disclosed up to $50 million in both assets and liabilities.
Stephen L. Thompson, Esq., at Barth & Thompson, represents the
Debtor as legal counsel.
Fannie Mae, as creditor, is represented by Jeffrey G. Wilhelm, Esq.
and Jessica M. Barnes, Esq. at Reed Smith, LLP.
NB MOUNTAIN: Seeks to Hire Meridian as Restructuring Advisor
------------------------------------------------------------
NB Mountain Valley, DST and NB Mountain Valley Leaseco, LLC seek
approval from the U.S. Bankruptcy Court for the Northern District
of West Virgina to employ Meridian Management Partners LLC as
restructuring advisor.
The firm will provide William Frederick as chief restructuring
officer and certain additional personnel to the Debtors.
The CRO and additional personnel will render these services:
(a) provide managerial oversight to the Debtors' businesses
and operations;
(b) provide financial oversight, stabilization and corrective
reporting including review and follow-up on weekly actual receipts
and disbursements, inter bank account transfers, and other cash
transactions;
(c) assess and validate the Debtors' cash and financial
projections;
(d) provide contingency planning and execution support for
potential strategic alternatives;
(e) assist in the formulation, development, negotiation, and
approval of any disclosure statement and plan of reorganization;
(f) assist the Debtors in preparing reporting required during
these Chapter 11 cases;
(g) serve as a liaison for lenders, creditors, and investors
to ensure trust and transparency, particularly with respect to
their senior-secured lender; and
(h) perform such other professional services as may be
requested by the Debtors and agreed to by Meridian and Mr.
Frederick.
The firm will be paid at these hourly rates:
William Frederick, CRO $450
Other Professionals $200 - $550
In addition, the firm will seek reimbursement for expenses
incurred.
The firm received a retainer of $20,000 from the Debtors.
Mr. Frederick disclosed in a court filing that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firm can be reached through:
William Frederick
Meridian Management Partners LLC
1000 5th St., Suite 200
Miami, FL 33139
About NB Mountain Valley, DST
NB Mountain Valley, DST owns the Mountain Valley Apartments, a
student- and professional-oriented residential complex located in
Morgantown, West Virginia, near West Virginia University.
NB Mountain Valley, DST and NB Mountain Valley Leaseco, LLC sought
protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr.
N.D. W. Va. Case No. 25-00456) on August 19, 2025. In the petition
signed by Patrick Nelson, principal, NB Mountain Valley, DST
disclosed up to $50 million in both assets and liabilities.
The Debtors tapped Barth & Thompson and Raines Feldman Littrell LLP
as counsel and Meridian Management Partners LLC as restructuring
advisor.
Fannie Mae, as creditor, is represented by Jeffrey G. Wilhelm,
Esq., and Jessica M. Barnes, Esq. at Reed Smith, LLP.
NB MOUNTAIN: Seeks to Tap Raines Feldman Littrell as Legal Counsel
------------------------------------------------------------------
NB Mountain Valley, DST and NB Mountain Valley Leaseco, LLC seek
approval from the U.S. Bankruptcy Court for the Northern District
of West Virginia to employ Raines Feldman Littrell LLP as counsel.
The firm will provide these services:
(a) advise the Debtors with respect to their powers and duties
and the operation of their businesses and properties;
(b) advise and consult on the conduct of these Chapter 11
cases;
(c) attend meetings and negotiate with representatives of
creditors and other parties in interest;
(d) take all necessary actions to protect and preserve the
Debtors' estates;
(e) prepare pleadings in connection with these Chapter 11
cases;
(f) represent the Debtors in connection with obtaining
authority to continue using cash collateral and postpetition
financing;
(g) advise the Debtors in connection with any potential sale
of assets;
(h) appear before the Court and any appellate courts to
represent the interests of the Debtors' estates;
(i) take any necessary action on behalf of the Debtors to
negotiate, prepare, and obtain approval of a disclosure statement
and confirmation of a Chapter 11 plan and all documents related
thereto; and
(j) perform all other necessary legal services for the Debtors
in connection with the prosecution of these Chapter 11 cases.
The firm will be paid at these hourly rates:
Partners, Counsel and Associates $425 - $875
Paraprofessionals $315 - $375
In addition, the firm will seek reimbursement for expenses
incurred.
The firm received a retainer of $185,000 from the Debtors.
The firm represents no interest adverse to the Debtors or to the
estate on the matters upon which it is to be engaged for them.
The firm can be reached at:
Raines Feldman Littrell LLP
11 Stanwix Street, Suite 1100
Pittsburgh, PA 15222
Telephone: (412) 899-6472
About NB Mountain Valley, DST
NB Mountain Valley, DST owns the Mountain Valley Apartments, a
student- and professional-oriented residential complex located in
Morgantown, West Virginia, near West Virginia University.
NB Mountain Valley, DST and NB Mountain Valley Leaseco, LLC sought
protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr.
N.D. W. Va. Case No. 25-00456) on August 19, 2025. In the petition
signed by Patrick Nelson, principal, NB Mountain Valley, DST
disclosed up to $50 million in both assets and liabilities.
The Debtors tapped Barth & Thompson and Raines Feldman Littrell LLP
as counsel and Meridian Management Partners LLC as restructuring
advisor.
Fannie Mae, as creditor, is represented by Jeffrey G. Wilhelm,
Esq., and Jessica M. Barnes, Esq. at Reed Smith, LLP.
NEUEHOUSE INC: Shuts Down, Prepares Chapter 7 Bankruptcy Filing
---------------------------------------------------------------
Reel 360 reports that NeueHouse, the members-only club and
co-working brand known for hosting film premieres, screenings, and
industry gatherings in Los Angeles and New York, is shutting down
and preparing to file for Chapter 7 bankruptcy.
The decision marks the end of a company that positioned itself as a
creative hub for entertainment, media, and tech professionals,
according to the report.
According to Reel 360, members were notified Wednesday, September
3, 2025, that operations will cease on Friday, September 5. While
NeueHouse did not disclose its liabilities, the closure follows a
summer-long membership drive that ultimately fell short. A Chapter
7 filing would result in liquidation of its assets.
The company's locations in Madison Square, Hollywood, and Venice
Beach hosted clients including Disney, Paramount, Amazon, and CAA.
Its Venice property opened less than three years ago, and earlier
this 2025, NeueHouse launched a podcast, My Hollywood Story with
Stacey Wilson Hunt, in an effort to diversify its brand, the report
states.
About NeueHouse Inc.
Neuehouse Inc. provides property management services. The Company
offers space for meeting, dinner, office, exhibition, and
commercial purposes. Neuehouse serves customers worldwide.
NEW RITE: Seeks to Extend Plan Exclusivity to December 31
---------------------------------------------------------
New Rite Aid LLC and its debtor-affiliates asked the U.S.
Bankruptcy Court for the District of New Jersey to extend their
exclusivity periods to file a plan of reorganization and obtain
acceptance thereof to December 31, 2025 and March 3, 2026,
respectively.
The Debtors explain that these chapter 11 cases involve 118 Debtor
entities that operate one of the industry's few retail drug store
chains. During these chapter 11 cases, the Debtors have been
engaged in multiple comprehensive sale processes with the goal of
maximizing value for the Debtors' estates. With substantial
assistance from the Debtors' employees, professionals, and
advisors, the sale processes have covered the Debtors' retail
pharmacy assets, valuable long-term lease and fee owned property
assets, and remaining assets.
The Debtors have also appeared before the Court on numerous
occasions seeking approval of the foregoing sales and resolution of
related disputes. To that end, the Court has entered numerous
orders approving the sale of Pharmacy Assets, Remaining Assets,
lease and fee owned property assets, resolving cure disputes, and
approving lease termination agreements. The scale of the Debtors'
sale processes, which remain ongoing, makes these chapter 11 cases
undoubtedly complex and weighs in favor of extending the
Exclusivity Periods.
The Debtors claim that during their short time in chapter 11, the
companies have made significant progress in winding down their
operations and administering these chapter 11 cases. The Debtors
have also made substantial progress in liquidating their assets and
obtaining approval of the various sales to effectuate an orderly
wind down of their estates. Accordingly, the Debtors' substantial
progress emergence from these chapter 11 cases, and the meaningful
negotiations the Debtors have conducted with creditors and
stakeholders in connection therewith, weigh in favor of the
extensions of the Exclusivity Periods.
The Debtors assert that they are not seeking extensions of the
Exclusivity Periods to pressure or prejudice any of their
stakeholders. Rather, extensions of the Exclusivity Periods will
support the ongoing sale process which benefits all stakeholders.
Continued exclusivity will permit the Debtors to maintain the speed
of their operational wind down, as competing plans that could
otherwise derail the Debtors' ongoing sale processes or prosecution
of the Plan, which would lead to costly, time-consuming
distractions, could not be filed. Ultimately, extending the
Exclusivity Periods will benefit, not prejudice, the Debtors'
estates, their creditors, and all other key parties in interest.
The Debtors further assert that since the Petition Date, the
Debtors have paid their postpetition debts in the ordinary course
of business or as otherwise provided by Court order, which weighs
in favor of an extension of the Exclusivity Periods.
Co-Counsel for the Debtors:
Michael D. Sirota, Esq.
Warren A. Usatine, Esq.
Felice R. Yudkin, Esq.
Seth Van Aalten, Esq.
COLE SCHOTZ P.C.
25 Main Street
Hackensack, New Jersey 07601
Tel: (201) 489-3000
Email: msirota@coleschotz.com
wusatine@coleschotz.com
fyudkin@coleschotz.com
svanaalten@coleschotz.com
- and -
Andrew N. Rosenberg, Esq.
Alice Belisle Eaton, Esq.
Christopher Hopkins, Esq.
Sean A. Mitchell, Esq.
PAUL, WEISS, RIFKIND, WHARTON &
GARRISON LLP
1285 Avenue of the Americas
New York, New York 10019
Tel: (212) 373-3000
Fax: (212) 757-3990
Email: arosenberg@paulweiss.com
aeaton@paulweiss.com
chopkins@paulweiss.com
smitchell@paulweiss.com
About Rite Aid
Rite Aid is a full-service pharmacy committed to improving health
outcomes. Rite Aid is defining the modern pharmacy by meeting
customer needs with a wide range of solutions that offer
convenience, including retail and delivery pharmacy, as well as
services offered through the Company's wholly owned subsidiary
Bartell Drugs. On the Web: http://www.riteaid.com/
Rite Aid and certain of its subsidiaries previously filed for
chapter 11 bankruptcy in October 2023 and emerged from bankruptcy
in August 2024.
On May 5, 2025, New Rite Aid, LLC and its subsidiaries, including
Rite Aid Corporation, commenced voluntary Chapter 11 proceedings
(Bankr. D.N.J. Lead Case No. 25-14861). As of the 2025 bankruptcy
filing date, Rite Aid operates 1,277 stores and 3 distribution
centers in 15 states and employs approximately 24,500 people. Rite
Aid is using the Chapter 11 process to pursue a sale of its
prescriptions, pharmacy and front-end inventory, and other assets.
The cases are being administered by the Honorable Michael B.
Kaplan.
Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal
advisor, Guggenheim Securities, LLC is serving as investment
banker, and Alvarez & Marsal is serving as financial advisor to the
Company. Joele Frank, Wilkinson Brimmer Katcher is serving as
strategic communications advisor to the Company.
Kroll is the claims agent and maintains the page
https://restructuring.ra.kroll.com/RiteAid2025
Bank of America, N.A., as DIP Agent, is represented by lawyers at
Greenberg Traurig, LLP; and Choate Hall & Stewart LLP.
NIKOLA CORP: Court Okays Ch.11 Plan Despite Former-CEO Pardon Fight
-------------------------------------------------------------------
Rihem Akkouche of USA Herald reports that Nikola Corp.'s Chapter 11
restructuring plan won court approval Friday, September 5, 2025,
overcoming objections from the company's founder and former CEO
Trevor Milton.
A Delaware bankruptcy judge cleared the electric truck maker's
strategy despite Milton's claim that a presidential pardon should
protect his financial interests, according to the report.
U.S. Bankruptcy Judge Thomas M. Horan rejected Milton's arguments,
saying former President Donald Trump's pardon did not erase
Milton's securities fraud conviction or entitle him to preferential
treatment in bankruptcy. Milton was convicted of misleading
investors about Nikola's technology. Milton opposed the plan
because it pushes his reimbursement claims behind those of other
unsecured creditors. He insisted that Trump's public defense of him
and the pardon language should elevate his standing, the report
states.
Judge Horan dismissed that interpretation, noting that the pardon's
wording was precise and left no room for broader claims of
innocence. "I'm not going to consider out-of-court statements," he
said, making clear that the pardon carried no weight in bankruptcy
proceedings.
About Nikola Corp.
Nikola Corporation and affiliates specialize in the design and
manufacture of zero-emissions commercial vehicles, including
battery-electric and hydrogen fuel cell trucks. The companies
operate in two business units: Truck and Energy. The Truck business
unit is commercializing heavy-duty commercial hydrogen-electric
(FCEV) and battery-electric (BEV) Class 8 trucks that provide
environmentally friendly, cost-effective solutions to the short,
medium and long-haul trucking sectors. The Energy business unit is
developing hydrogen fueling infrastructure to support FCEV trucks
covering supply, distribution and dispensing. Founded in 2015,
Nikola is headquartered in Phoenix, Ariz.
Nikola and nine of its affiliates sought relief under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. D. Del., Lead Case No. 25-10258)
on February 19, 2025. In the petitions, the Debtors reported total
assets as of Jan. 31, 2025 of $878,094,000 and total debts as of
Jan. 31, 2025 of $468,961,000.
Honorable Bankruptcy Judge Thomas M. Horan handles the cases.
Potter Anderson & Corroon LLP serves as general bankruptcy counsel
to the Debtors, and Pillsbury Winthrop Shaw Pittman LLP serves as
bankruptcy co-counsel. Houlihan Lokey Capital, Inc. acts as
investment banker to the Debtors; M3 Advisory Partners LP acts as
financial advisor to the Debtors; while EPIQ Corporate
Restructuring LLC is the Debtors' claims and noticing agent.
The U.S. Trustee for Region 3 appointed an official committee to
represent unsecured creditors in the Debtors' Chapter 11 cases. The
committee tapped Morrison & Foerster LLP and Morris James, LLP as
legal counsels; Ducera Securities, LLC as investment banker; and
FTI Consulting, Inc. as financial advisor.
NOBLE LIFE: Wins OK to Use Cash Collateral Until Oct. 31
--------------------------------------------------------
Noble Life Sciences Inc. received second interim approval from the
U.S. Bankruptcy Court for the District of Maryland to use cash
collateral.
The second interim order authorized the Debtor to use cash
collateral through October 31 or until a final hearing in
accordance with its budget, subject to a 10% variance.
The Debtor projects total operational expenses of $651,632 for
September and $515,088 for October.
Fulton Bank, a secured creditor, will be granted a security
interest of the same priority and to the same extent of the
Debtor's use of such cash collateral. The security interest is
automatically perfected and survives conversion of the Debtor's
Chapter 11 case to one under Chapter 7.
As additional protection, Fulton Bank will receive payments of
$15,000 on September 15 and October 15.
The Debtor's president may continue using personal credit cards for
company purchases until Oct. 31 or until DIP banking services are
established.
The next hearing is scheduled for October 27.
About Noble Life Sciences Inc.
Noble Life Sciences, Inc. is a pre-clinical contract research
organization that provides GLP and non-GLP services, including
safety and efficacy testing, for drugs, vaccines, and medical
devices. It offers capabilities in pharmacology, bioanalysis,
analytical testing, and preclinical development across a range of
therapeutic areas such as oncology, infectious diseases, and
cardiovascular conditions.
Noble Life Sciences sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Md. Case No. 25-15637) on June 22, 2025.
In its petition, the Debtor reported total assets of $488,456 and
total liabilities of $5,160,511.
Robert B. Scarlett, Esq., at Scarlett & Croll, P.A. is the Debtor's
legal counsel.
Fulton Bank is represented by:
Michael D. Nord, Esq.
Gebhardt & Smith, LLP
One South Street, Suite 2200
Baltimore, MD 21202
Tel: (410) 385-5072
mnord@gebsmith.com
NOW SOLUTIONS: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: NOW Solutions, Inc.
2100 N. Greenville Ave., Ste. 201-E
Richardson, TX 75082
Business Description: NOW Solutions, Inc. provides human resources
management systems (HRMS) and payroll
software solutions, serving clients across
education, healthcare, technology,
insurance, manufacturing, public sector,
retail, and transportation industries. Its
primary product, emPath, is a web-based
platform integrating HR and payroll
functions, including employee self-service,
performance reviews, and benefits tracking.
The Company operates in the U.S. and Canada.
Chapter 11 Petition Date: September 7, 2025
Court: United States Bankruptcy Court
Eastern District of Texas
Case No.: 25-42648
Judge: Hon. Brenda T. Rhoades
Debtor's Counsel: Brandon Tittle, Esq.
TITTLE LAW FIRM, PLLC
1125 Legacy Dr., Ste. 230
Frisco, TX 75034
Tel: 972-213-2316
Email: btittle@tittlelawgroup.com
Debtor's
Financial
Advisor: ARMANINO LLP
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Freddy Holder as CFO.
A copy of the Debtor's list of 20 largest unsecured creditors is
available for free on PacerMonitor at:
A full-text copy of the petition is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/AT3HQEA/NOW_Solutions_Inc__txebke-25-42648__0001.0.pdf?mcid=tGE4TAMA
NUMERICAL CONCEPTS: Seeks to Tap Kroger Gardis & Regas as Counsel
-----------------------------------------------------------------
Numerical Concepts Inc. seeks approval from the U.S. Bankruptcy
Court for the Southern District of Indiana to employ Kroger Gardis
& Regas, LLP as counsel.
The firm will provide these services:
(a) prepare filings and applications and conduct examinations
necessary to the administration of this matter;
(b) advise regarding the Debtor's rights, duties, and
obligations;
(c) perform legal services associated with and necessary to
the day-to-day operations of the business;
(d) negotiate, prepare, confirm, and consummate a plan of
liquidation; and
(e) take any and all other necessary action incident to the
proper preservation and administration of the estate in the conduct
of the Debtor's business.
The firm's counsel and staff will be paid at these hourly rates:
Harley Means, Partner $425
Weston Overturf, Associate $425
Jason Mizzell, Associate $360
Anthony Carreri, Associate $360
Kimberly Whigham, Paralegal $195
Deidre Gastenveld, Paralegal $195
Kenyatta Peerman, Paralegal $175
The firm received a retainer of $10,000 from the Debtor.
Mr. Mizzell disclosed in a court filing that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firm can be reached through:
Jason Mizzell, Esq.
Kroger Gardis & Regas
111 Monument Circle, Suite 900
Indianapolis, IN 46204
Telephone: (317) 777-7434
Email: jmizzell@kgrlaw.com
About Numerical Concepts Inc.
Numerical Concepts Inc. is a woman-owned manufacturer established
in 1973, specializing in the design and fabrication of both
custom-built machines and individual components for various
industries worldwide. Operating from a 78,000-square-foot facility,
the Company offers comprehensive services including machining,
assembly, inspection, and testing with minimal subcontracting.
Leveraging over 450 years of combined management and machinist
experience, Numerical Concepts serves as a one-stop provider of
complex equipment and parts with a focus on quality and customer
satisfaction.
Numerical Concepts Inc. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Ind. Case No. 25-80405) on August 11,
2025. In its petition, the Debtor reports estimated assets and
liabilities between $1 million and $10 million each.
Honorable Bankruptcy Judge Jeffrey J. Graham handles the case.
The Debtor is represented by Jason T. Mizzell, Esq., at Kroger,
Gardis & Regas, LLP.
OMEGA INVESTIGATION: Hires Alexis Fuentes-Hernandez as Counsel
--------------------------------------------------------------
Omega Investigation Services, Corp. seeks approval from the U.S.
Bankruptcy Court for the District of Puerto Rico to employ Alexis
Fuentes-Hernandez, Esq., an attorney practicing in San Juan, Puerto
Rico, to handle its Chapter 11 case.
The attorney will be billed at an hourly rate of $250 plus
out-of-pocket expenses.
The attorney received a retainer of $10,000 from the Debtor.
Mr. Fuentes-Hernandez disclosed in a court filing that he is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The attorney can be reached at:
Alexis Fuentes-Hernandez, Esq.
366 Calle Fortaleza, Fl. 2
San Juan, PR 00901
About Omega Investigation Services Corp.
Omega Investigation Services Corp. is a company presumably
providing investigation and security-related services based in San
Juan, Puerto Rico.
Omega Investigation Services sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D.P.R. Case No. 25-03647) on August
15, 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 by Alexis Fuentes-Hernandez, Esq.
ONDAS HOLDINGS: To Acquire 51% Stake in Smart Precision Optics
--------------------------------------------------------------
Ondas Holdings Inc. disclosed in a Form 8-K Report filed with the
U.S. Securities and Exchange Commission that it entered into a
certain:
(i) Share Purchase Agreement, by and among the Company, Smart
Precision Optics S.P.O LTD., a company organized under the laws of
the State of Israel, Shamir Investment Entrepreneurship ACS LTD.,
an agricultural cooperative society organized under the laws of the
State of Israel and
(ii) Side Letter, by and among the Company, SPO and Shamir.
The Agreement provides that, upon the terms and subject to the
conditions set forth in the Agreement, at the closing of the
Acquisition, upon the terms and subject to the conditions set forth
in the Agreement, the Company shall pay an aggregate purchase
amount of:
(i) NIS20,000,000.00 (approximately US$5,946,805) cash in
exchange for share capital ("SPO Shares") of SPO and
(ii) NIS1.00 (approximately US$0.30) for 51% of the outstanding
capital notes of SPO, with an aggregate outstanding balance of
approximately NIS71,000,000 (approximately US$21,111,160) issued to
Shamir by SPO against investments made by Shamir in SPO.
Following the closing of the Acquisition, the Company will own the
SPO Shares and SPO Notes which shall reflect 51% of the share
capital of SPO on a fully diluted basis.
Additionally, if SPO obtains or receives Qualified Grants (as
defined in the Agreement) between the closing of the Acquisition
and December 31, 2026, the Company shall be required to make
payment to Shamir in an amount equal to 10% of the amount of any
such Qualified Grants received by SPO, up to an aggregate amount of
NIS40,000,000 (approximately US$11,893,611) of Qualified Grants
received ("Contingent Consideration") (i.e. the maximum Contingent
Consideration paid by the Company to Shamir shall be NIS4,000,000
(approximately US$1,189,361). The Contingent Consideration shall be
paid in cash, provided however, that the Company may choose, in its
sole discretion, to pay the Contingent Consideration in shares of
the Company's common stock, par value $0.0001 per share.
Subject to the terms of the Agreement, Shamir has the right (the
"First Put Option") to cause the Company to purchase all (but not
less than all) of the remaining issued and outstanding share
capital of SPO held by Shamir, which acquisition shall be
accompanied with sale for no additional consideration of any and
all capital notes of SPO then held by Shamir (such shares and
capital notes, jointly, the "Put Shares"), at a purchase price of
NIS742.2 (approximately US$ 220.69) per share. Shamir may exercise
the First Put Option during the period commencing on October 15,
2025 and ending June 30, 2026.
Subject to the terms of the Agreement, to the extent that the First
Put Opinion was not exercised, Shamir has the right to appoint a
third-party evaluator to determine SPO's valuation and after
receiving such valuation, Shamir may offer to the Company to
purchase the Put Shares at such evaluated price (the "Second Put
Option"). If the Company declines, the Company may make a
counter-offer to purchase the Put Shares. If Shamir rejects the
Company's counter-offer, Shamir can initiate a "Forced Sale"
process to sell 100% of SPO to a third party during a limited
period of nine months. Alternatively, if no Forced Sale occurs,
Shamir can request an updated evaluation for SPO and either sell to
the Company pursuant to Company's offer, or buy all of the
Company's securities in SPO at the updated valuation. Shamir may
exercise the forgoing during the period commencing on the second
anniversary of the closing of the Acquisition and ending June 30,
2029.
The consideration payable by the Company to Shamir upon the
consummation of either the First Put Option or the Second Put
Option shall be paid in cash, provided however, that the Company
may choose, in its sole discretion, to pay Shamir in Common Stock.
Additionally, subject to the terms of the Agreement, in the event
that the Second Put Option is exhausted without being exercised,
the Company shall have the right (the "Call Option") to require
Shamir to sell all (and not less than all) of the remaining issued
and outstanding share capital of SPO held by Shamir in
consideration for the amount reflecting SPO's valuation on a cash
free-debt free basis of NIS200,000,000 (approximately
US$59,468,058), which acquisition shall be accompanied with sale
for no additional consideration of any and all capital notes of SPO
then held by Shamir, payable in cash. The Company may exercise the
Call Option during the period commencing on the end of the Second
Put Option Period and ending 18-months-later.
Each of the Company, SPO, and Shamir has provided customary
representations, warranties and covenants in the Agreement. The
completion of the Acquisition is subject to various closing
conditions, including:
(a) the requisite regulatory approvals being obtained;
(b) the absence of any applicable order (whether temporary,
preliminary or permanent) in effect which prohibits the
consummation of the Acquisition; and
(c) the absence of any law of any governmental authority of
competent jurisdiction prohibiting the consummation of the
Acquisition.
The Agreement may be terminated upon:
(i) the written agreement of the Company and SPO or
(ii) the written notice by the Company or SPO if the closing of
the Acquisition has not occured on or before September 19, 2025.
The Acquisition is expected to close in the third quarter of 2025.
In a press release, the Company stated that this strategic
acquisition will bring SPO's world-class expertise in high-end
precision optics processing, proprietary optical coatings, and
end-to-end optical manufacturing under the Ondas umbrella. SPO is
part of a select global group of companies with the infrastructure
and know-how to deliver highly complex, military-grade optics that
enable the next generation of defense, security, and critical
infrastructure systems.
"The acquisition of S.P.O. Smart Precision Optics will represent a
major step in strengthening Ondas' leadership in advanced defense
technologies," said Eric Brock, Chairman and CEO of Ondas Holdings
in the same press release. "Precision optics are the heart of
electro-optical systems, and SPO's expertise and infrastructure is
expected to give us an unparalleled ability to support the critical
optical performance required in missile defense and counter-drone
systems worldwide. Together, we intend to expand SPO's scale,
pursue global opportunities, and play a leading role in supporting
U.S., Israeli, and allied defense customers."
SPO has earned recognition as a critical supplier to Israeli
defense corporations, with proven performance supporting critical
security systems ranging from missile defense systems, various
armored vehicles, and next-generation high-power weapons. Its
unique capabilities span optical design, CNC processing, polishing,
metrology, cement and cementing allowing for the delivery of
complete solutions from raw material through finished assemblies.
According to Research and Markets, the total addressable market
(TAM) for Precision Optics was nearly $29 billion in 2025, with the
High Precision Optics market sized at $3.3 billion.
"SPO is more than a supplier; it's a strategic asset for national
defense and a unique global player in precision optics," said Oshri
Lugassy, Co-CEO of Ondas Autonomous Systems. "By combining SPO's
heritage and know-how with Ondas' expanding global operating
platform, we expect to enable critical capabilities for missile
defense, high-power lasers, and advanced counter-drone systems that
are essential to the defense of populations, forces, and critical
infrastructure."
Backed by decades of optics expertise, SPO combines deep human
capital, advanced infrastructure, and proprietary technologies that
are vital to both Israel's "Blue & White" independence programs and
to international defense and security markets.
About Ondas Holdings
Marlborough, Mass.-based Ondas Holdings Inc. provides private
wireless data solutions through its subsidiary, Ondas Networks
Inc., and commercial drone solutions through Ondas Autonomous
Systems Inc. (OAS), which includes wholly owned subsidiaries
American Robotics, Inc. and Airobotics LTD. OAS focuses on the
design, development, and marketing of autonomous drone solutions,
while Ondas Networks specializes in proprietary, software-based
wireless broadband technology for both established and emerging
commercial and government markets. Together, Ondas Networks,
American Robotics, and Airobotics deliver enhanced connectivity,
situational awareness, and data collection capabilities to users in
defense, homeland security, public safety, and other critical
industrial and government sectors.
In an audit report dated March 12, 2025, the Company's auditor,
Rosenberg Rich Baker Berman, P.A., issued a "going concern"
qualification, citing that the Company has experienced recurring
losses from operations, negative cash flows from operations and a
working capital deficit as of Dec. 31, 2024.
As of Dec. 31, 2024, Ondas Holdings had $109.62 million in total
assets, $73.68 million in total liabilities, and $16.58 million in
total stockholders' equity. As of June 30, 2025, the Company had
$151.95 million in total assets, $39.29 million in total
liabilities, and $90.82 million in total stockholders' equity.
P-D VALMIERA: Motion for Reconsideration of Claim No. 10 Tossed
---------------------------------------------------------------
Judge Paul W. Bonapfel of the United States Bankruptcy Court for
the Northern District of Georgia denied the motion filed by Lamonta
James' attorneys for reconsideration of payment of Claim No. 10 in
the bankruptcy case of P-D Valmiera Glass USA Corp.
Lamonta James, a former employee, filed a prepetition employment
discrimination lawsuit against P-D Valmiera Glass USA Corp. His
attorneys in the litigation signed and filed a proof of claim on
his behalf for $1,000,000, listing their office address as the
place where notices and payments should be sent.
The Liquidating Trustee under the Debtor's confirmed plan of
liquidation, in the course of making distributions to unsecured
creditors, mailed a check payable to Mr. James in the amount of
$56,000 to Mr. James's home address, which appeared on the W-9 tax
form that Mr. James had submitted at the Liquidating Trustee's
request. The check represented 5.6% of his filed, allowed claim,
the percentage all similarly situated unsecured claimants received.
Mr. James received and cashed the check and notified the attorneys
that he had done so.
The case was closed on May 10, 2023.
About two years after the payment, the attorneys, Malcolm Palmore,
Markus Boenig, and James B. Cronon, filed a motion to reopen the
case to permit them to be properly compensated in accordance with
the law.
Palmore et al. contend that the Liquidating Trustee's financial
advisor erred when he disregarded Palmore et al.'s instructions to
make the check payable to both Mr. James and his attorneys as
co-payees and to mail it to the law firm's office and, instead,
mailed a check payable only to Mr. James to his home address.
Palmore et al. contend that this action resulted in their inability
to recover their attorney fees that they otherwise would have been
entitled to recover for their representation of Mr. James on his
prepetition claim against the Debtor.
In support of their request for relief, Palmore et al. seek
reconsideration of Claim No. 10 pursuant to 11 U.S.C. Sec. 502 on
the theory that the mailing of the check to the Debtor's home
address violated Rule 2002(g) of the Federal Rules of Bankruptcy
Procedure. Palmore et al. request that the Court order the
Liquidating Trustee to collect and recover the payment made to Mr.
James and reissue the payment to the appropriate parties -- that
is, to the claimant and his attorneys' law firm, payable jointly --
in accordance with 11 U.S.C. Sec. 704(a)(1).
The Liquidating Trustee counters that Palmore et al. have no
factual or legal basis for the relief they seek because:
(1) Bankruptcy Rule 2002(g) is inapplicable to the disbursement
on Claim No. 10; and
(2) the provisions of the Confirmed Plan do not provide a remedy
to Palmore et al. because the error does not constitute gross
negligence or willful misconduct.
The Court conducted a hearing to consider the Motion and the
Liquidating Trustee's opposition to it. At the hearing, the Court
concluded, and Palmore et al. and the Liquidating Trustee agreed,
that it was appropriate to reopen this case for the purpose of
determining whether the Liquidating Trustee is liable to Palmore et
al. based on the Liquidating Trustee's failure to make the
distribution check payable to Mr. James and Palmore et al. jointly;
and the mailing of the check to Mr. James's home address rather
than to the attorneys' office.
The Court has reviewed the terms of the Confirmed Plan, the
Confirmation Order, and the Liquidating Trust Agreement and
concludes Palmore et al. have asserted no basis for relief against
the Liquidating Trustee or his professionals. According to the
Court:
(1) Mr. James is the holder of the claim and the check was
properly made payable to him;
(2) Palmore et al. are not holders of a claim in the case,
notwithstanding their attempts to have the check made jointly
payable to them with Mr. James;
(3) Mr. James, the holder of the claim, actually received the
payment; and
(4) to the extent the Trustee's mailing of the check directly to
Mr. James at his home address and not the address on the proof of
claim was an error, it does not rise to the level of willful
misconduct or gross negligence that would permit recovery from the
Liquidating Trustee or his professionals.
The Court concludes that:
(1) no ground exists for reconsideration of the treatment or the
Liquidating Trustee's payment of Mr. James's claim because 11
U.S.C. Sec. 502(j) and Bankruptcy Rule 2002(g) are inapplicable to
the circumstances in this case; and
(2) Palmore et al. have failed to identify any redressable error
committed by the Liquidating Trustee under the binding terms of the
Confirmed Plan.
The Court will, therefore, reopen the case but deny the substantive
relief that Palmore et al. request.
A copy of the Court's Order is available at
https://urlcurt.com/u?l=8XoDhX
About P-D Valmiera Glass USA Corp.
P-D Valmiera Glass USA Corp. -- https://www.valmiera-glass.com/ --
manufactures fiberglass and fiberglass products. P-D Valmiera Glass
USA sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. N.D. Ga. Case No. 19-59440) on June 17, 2019.
At the time of the filing, the Debtor was estimated to have assets
of between $100 million and $500 million and liabilities of the
same range. The case is assigned to Judge Paul W. Bonapfel. The
Debtor is represented by Scroggins & Williamson, P.C. SC&H Capital
acted as the Debtor's exclusive investment banker.
The U.S. Trustee for Region 21 appointed creditors to serve on the
Official Committee of unsecured creditors on July 8, 2019. The
committee hired Kilpatrick Townsend & Stockton LLP as its legal
counsel and Dundon Advisers LLC as its financial advisor.
Troutman Sanders LLP is counsel to SEB Banka.
On April 27, 2020, the Court entered an Order approving a sale of
substantially all assets of the estate to Saint-Gobain Adfors
America, Inc. and the transaction closed in June that year.
P4 EXECUTIVE: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: P4 Executive Investments LLC
3600 W. Marshall Ave.
Longview TX 75604
Business Description: P4 Executive Investments LLC, based in
Longview, Texas, provides real estate
services, including buying, selling, and
renting properties, and operates under NAICS
code 5312 (Offices of Real Estate Agents and
Brokers).
Chapter 11 Petition Date: September 7, 2025
Court: United States Bankruptcy Court
Northern District of Texas
Case No.: 25-43393
Judge: Hon. Mark X. Mullin
Debtor's
General
Bankruptcy
Counsel: Richard Grant, Esq.
CM LAW PLLC
13101 Preston Road, Suite 110-1510
Dallas TX 75240
Tel: 214-210-2929
Email: rgrant@cm.law
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Michael Pearson as managing member.
A list of the Debtor's 20 largest unsecured creditors was not
provided alongside the petition.
A full-text copy of the petition is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/DPBZYWA/P4_Executive_Investments_LLC__txnbke-25-43393__0001.0.pdf?mcid=tGE4TAMA
PALMAS ATHLETIC: Seeks to Tap Richard & Escalera as Special Counsel
-------------------------------------------------------------------
Palmas Athletic Club, Corp. seeks approval from the U.S. Bankruptcy
Court for the District of Puerto Rico to employ Reichard & Escalera
LLC as special counsel.
The firm will assist the Debtor in connection with tax exemption
matters related to its tourism activities.
The hourly rates of the firm's counsel and staff are as follows:
Senior Partners/Partners $400
Associates $210
Paralegals $150 - $185
In addition, the firm will seek reimbursement for expenses
incurred.
Juan Carlos Mendez, principal at Reichard & Escalera, 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:
Juan Carlos Mendez, Esq.
Reichard & Escalera LLC
MCS Plaza Building, 10th Floor
255 Ponce de Leon Ave.
San Juan, PR 00917
Telephone: (787) 777-8834
Facsimile: (787) 765-4225
About Palmas Athletic Club Corp.
Palmas Athletic Club Corp. owns and operates a 420-acre
recreational property within Palmas Del Mar Resort in Humacao,
Puerto Rico. The site includes two 18-hole golf courses, a
22,200-square-foot clubhouse, a 5,600-square-foot beach clubhouse,
and related facilities.
Palmas Athletic Club Corp. sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D.P.R. Case No. 25-03489) on August 4,
2025. In its petition, the Debtor reports total assets of
$16,793,944 and total liabilities of $36,514,983.
The Debtor tapped Charles A. Cuprill Hernandez, Esq., at Charles A.
Cuprill, PSC, Law Offices and CPA Luis R. Carrasquillo & Co., PSC
as financial consultant.
PEGASUS BUILDERS: $25M Unsecured Claims to Split $1.56M in Plan
---------------------------------------------------------------
Pegasus Builders, Inc., and David Cummings Forkey filed with the
U.S. Bankruptcy Court for the Southern District of Florida a Joint
Plan of Reorganization for Small Business dated August 27, 2025.
Pegasus is a Florida-based general contracting company specializing
in commercial and residential construction. Forkey is an individual
and is the sole owner, officer and director of Pegasus.
The Debtors have sought use of chapter 11 to restructure their
debts, streamline their financial structure, and attempt to resolve
ongoing disputes with several creditors that were engaged in
litigation with the Debtors prior to the Petition Date.
The final Plan payment is expected to be paid 60 months from the
Effective Date of the Plan.
This Plan under chapter 11 of the Code proposes to pay creditors of
the Debtors from operating income as well as Cash on hand, unless
otherwise stated.
Non-priority unsecured creditors holding Allowed claims will
receive distributions in quarterly payments. This Plan also
provides for the payment of Administrative and Priority Claims.
Class 4 consists of all the Allowed General Unsecured Claims of
Pegasus. As reflected in the list of general unsecured creditors,
Pegasus estimates the aggregate amount of Allowed Class 4 Claims is
approximately $24,997,379.13. Pegasus estimates that if this case
were converted to a Chapter 7 case and all claims were Allowed in
full, the holders of Class 4 Claims will not receive any
distribution.
If the Debtors' Plan is confirmed, each holder of an Allowed
general unsecured claim against Pegasus Builders Inc., will share
pro rata in a total distribution of $1,560,000,00. Payments of
$120,000.00 shall be distributed pro rata on a quarterly basis for
the first two quarters, beginning in Q3 of 2027, followed by
payments of $110,000.00 for the remaining 12 quarters of the Plan.
These payments shall be in full satisfaction, settlement, release,
and extinguishment of their respective Allowed Claims. The Debtors
may prepay any or all of the distributions described herein with no
prepayment penalty. The Class 4 Claims are Impaired.
Class 5 consists of all the Allowed General Unsecured Claims of
Forkey. As reflected in the list of general unsecured creditors,
Forkey estimates the aggregate amount of Allowed Class 5 Claims is
approximately $187,785.34. Forkey estimates that if this case were
converted to a Chapter 7 case and all claims were Allowed in full,
the holders of Class 5 Claims will not receive any distribution.
If the Debtors' Plan is confirmed, each holder of an Allowed
general unsecured claim against Mr. Forkey will share pro rata in a
total distribution of $11,728.42. Payments of $586.42 shall be
distributed pro rata on a quarterly basis, beginning on the Initial
Payment Date. These payments shall be in full satisfaction,
settlement, release, and extinguishment of their respective Allowed
Claims. The Debtors may prepay any or all of the distributions
described herein with no prepayment penalty. The Class 5 Claims are
Impaired.
Class 6 consists of the Equity Interests of Pegasus and Forkey in
assets of their respective Estates, which are retained under the
Plan. All property of each Estate shall re-vest in the respective
Reorganized Debtor.
All payments as provided for in the Plan shall be funded by the
Debtors' Cash on hand and operating income, unless otherwise
stated.
A full-text copy of the Joint Plan of Reorganization dated August
27, 2025 is available at https://urlcurt.com/u?l=3ldvmj from
PacerMonitor.com at no charge.
Counsel to the Debtor:
Aaron A. Wernick, Esq.
Wernick Law, PLLC
2255 Glades Road, Suite 324A
Boca Raton, FL 33431
Tel: (561) 961-0922
Email: awernick@wernicklaw.com
About Pegasus Builders Inc.
Pegasus Builders Inc. is a licensed general contractor specializing
in luxury custom homes and equestrian estates across Wellington and
South Florida. The Company holds licenses in general contracting,
engineering, and roofing, backed by over 25 years of experience in
the Florida market. It serves both residential and commercial
clients and actively participates in philanthropic initiatives
supporting various local and national organizations.
Pegasus Builders Inc. sought relief under Subchapter V of Chapter
11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-16181)
on May 30, 2025. In its petition, the Debtor reports estimated
assets and liabilities between $1 million and $10 million each.
Honorable Bankruptcy Judge Mindy A. Mora handles the case.
The Debtors are represented by Aaron Wernick, Esq. at WERNICK LAW
PLLC.
PEGASUS BUILDERS: Taps S.J. Gorowitz Accounting as Tax Preparer
---------------------------------------------------------------
Pegasus Builders, Inc. and its affiliate seek approval from the
U.S. Bankruptcy Court for the Southern District of Florida to
employ S.J. Gorowitz Accounting & Tax Services, P.C. as tax
preparers.
The firm will prepare the individual federal and state income tax
returns for David C. Forkey for the fiscal year ended Dec. 31,
2023, and thereafter. The firm will also prepare the S-Corporation
federal and state income tax returns for Pegasus Builders, Inc. for
the fiscal year ended Dec. 31, 2023, and thereafter.
SJG's blended hourly rate (including tax preparers, reviewers, and
related personnel) is $300.
The firm received a retainer in the amount of $3,500.
As disclosed in the court filing, S.J. Gorowitz Accounting & Tax
Services, P.C. is a "disinterested person" within the meaning of 11
U.S.C. 101(14).
The firm can be reached through:
Greg Silberman, CPA
S.J. Gorowitz Accounting & Tax Services, P.C.
11175 Cicero Dr. Suite 100
Alpharetta, GA 30022
About Pegasus Builders, Inc.
Pegasus Builders Inc. is a licensed general contractor specializing
in luxury custom homes and equestrian estates across Wellington and
South Florida. The Company holds licenses in general contracting,
engineering, and roofing, backed by over 25 years of experience in
the Florida market. It serves both residential and commercial
clients and actively participates in philanthropic initiatives
supporting various local and national organizations.
Pegasus Builders Inc. sought relief under Subchapter V of Chapter
11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-16181)
on May 30, 2025. In its petition, the Debtor reports estimated
assets and liabilities between $1 million and $10 million each.
Honorable Bankruptcy Judge Mindy A. Mora handles the case.
The Debtors are represented by Aaron Wernick, Esq. at WERNICK LAW
PLLC.
PI ESTATES: Seeks to Hire Dal Lago Law as Bankruptcy Counsel
------------------------------------------------------------
PI Estates LLC and its affiliates seek approval from the U.S.
Bankruptcy Court for the Middle District of Florida to employ Dal
Lago Law as counsel.
The firm will provide these services:
(a) advise the Debtors with respect to their powers and
duties;
(b) prepare on behalf of the Debtors necessary legal papers;
(c) appear before this Court and the United States Trustee to
represent and protect the interests of the Debtors;
(d) negotiate and collaborate with the Subchapter V Trustee;
(e) participate in negotiations with creditors and other
parties-in-interest in formulating a Chapter 11 plan, drafting such
a plan, and taking necessary legal steps to confirm such a plan;
(f) represent the Debtors in all adversary proceedings,
contested matters, and matters involving administration of this
case; and
(g) perform all other legal services that may be necessary for
the proper preservation and administration of this Chapter 11
case.
The firm's professionals will be paid at these hourly rates:
Michael Dal Lago, Attorney $460
Christian Garrett Haman, Attorney $385
Jennifer Duffy, Attorney $360
Kim Christian, Paraprofessional $225
Fatema Bravo, Paraprofessional $175
Frances Vasquez, Paraprofessional $165
Grace Burnes, Paraprofessional $125
In addition, the firm will seek reimbursement for expenses
incurred.
The firm received a total post-petition retainer of $30,000.
$26,000 of the retainer was paid by Gopal Farm Pine Island LLC and
$4,000 was paid by Global Farm Pine Island LLC.
Mr. Dal Lago 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 R. Dal Lago, Esq.
Dal Lago Law
999 Vanderbit Beach Road, Suite 200
Naples, FL 34108
About PI Estates LLC
PI Estates, LLC, operating as US Coconuts and Gopal Farm, is an
agricultural business based in Bokeelia, Florida, focused on
coconut farming operations. The company maintains orchard
development with planting trees using intercropping and
permaculture techniques on Pine Island.
PI Estates and its affiliates sought relief under Subchapter V of
Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Lead Case
No. 25-01197) on June 26, 2025. In its petition, PI Estates
reported estimated assets and liabilities between $1 million and
$10 million each.
Judge Caryl E. Delano handles the cases.
Michael R. Dal Lago, Esq., at Dal Lago Law serves as the Debtors'
counsel.
PLAZA UTILITIES: Seeks to Hire Going Property Group LLC as Broker
-----------------------------------------------------------------
Plaza Utilities LLC and its affiliates seek approval from the U.S.
Bankruptcy Court for the Southern District of Indiana to employ
Going Property Group LLC as broker.
The firm will render these services:
a. advise the Debtors with respect to listing, marketing, and
selling the subject real estate;
b. assist in the negotiation of any sale under the listing
agreement; and
c. perform such other services as may be required.
The firm will receive a commission equal to 6 percent of the sales
price.
As disclosed in the court filings, Going Property Group is a
disinterested person and holds ni interest adverse to the matters
upon which he is to be employed.
The firm can be reached through:
David Going
Going Property Group LLC
1937 Declaration Dr
Greenfield, IN, 46140-2763
About Plaza Utilities LLC
Plaza Utilities LLC and affiliates are real estate entities that
hold fee simple ownership of undeveloped commercial land in New
Palestine, Indiana. The three companies own adjacent or nearby
parcels along W US 52 and South 600 West and are involved in
property holding and potential development in the area.
Plaza Utilities LLC and affiliates sought relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. S.D. Ind. Lead Case No.
25-04649) on August 4, 2025. The case is jointly administered in
Case No. 25-04649. In its petition, Plaza Utilities disclosed
estimated assets of $3,244,300 and estimated liabilities of
$795,249.
Honorable Bankruptcy Judge James M. Carr handles the case.
The Debtors are represented by Matthew D. Boruta, Esq.
POWIN LLC: Deadline to File Claims Set for Sept. 29, 2025
---------------------------------------------------------
The U.S. Bankruptcy Court for the District of New Jersey set Sept.
29, 2025 at 5:00 p.m., (Prevailing Eastern Time) as the last date
and time for persons or entities to file proofs of claim against
Powin LLC and its debtor-affiliates.
The Court also set Dec. 8, 2025, at 5:00 p.m., (Prevailing Eastern
Time) as the deadline for all governmental units to file their
claims against the Debtors.
Proofs of claim will be deemed filed only when received at the
addresses listed below or filed electronically on or before the Bar
Date. Proofs of claim may not be delivered by facsimile, telecopy
or electronic mail transmission.
If by mail, delivery, or delivered by hand:
Powin LLC., et al. Claims Processing Center
c/o KCC dba Verita Global
222 N Pacific Coast Highway
Suite 300
El Segundo, CA 90245
Case Hotline:
Toll-Free: (866) 507-8031
International: (781) 575-2122
If delivered by hand:
Powin LLC., et al. Claims Processing Center
c/o KCC dba Verita Global
222 N Pacific Coast Highway, Suite 300
El Segundo, CA 90245 or
United States Bankruptcy Court,
District of New Jersey
402 East State Street
Trenton, NJ 08608
If filed electronically: "Submit Electronic Proof of Claim" link on
the Debtors' case website:
https://www.veritaglobal.net/powin.
About Powin LLC
Powin, LLC, is a manufacturer of utility-scale battery energy
storage systems. It specializes in designing and manufacturing
advanced energy storage solutions for utility, commercial, and
industrial applications.
Powin and its affiliates sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D.N.J. Lead Case No. 25-16137) on June 10,
2025. In its petition, Powin listed assets and liabilities between
$100 million and $500 million.
Bankruptcy Judge Michael B. Kaplan handles the cases.
The Debtors tapped Togut, Segal & Segal LLP and Dentons US LLP as
counsel, and Huron Transaction Advisory LLC as investment banker.
The U.S. Trustee for Regions 3 and 9 appointed an official
committee to represent unsecured creditors in the Chapter 11 cases
of Powin LLC and its affiliates.
The Committee retained Genova Burns LLC and Brown Rudnick LLP as
its co-counsel.
PRAESUM HEALTHCARE: Taps Carol Fox of GlassRatner Advisory as CRO
-----------------------------------------------------------------
Praesum Healthcare Services LLC and its affiliates seek approval
from the U.S. Bankruptcy Court for the Southern District of Florida
to hire GlassRatner Advisory & Capital Group, LLC as financial
advisor and designate Carol Fox as their chief restructuring
officer.
The firm's services include attendance of Bankruptcy Court
hearings; analysis; support in negotiations; an accounts receivable
assessment; preparation of cash flow projections; assistance with
preparation of monthly operating reports and bankruptcy schedules;
treasury function management; human resources assistance; and
assistance with formulation of a plan of reorganization.
The firm received a retainer in the amount of $150,000.
Carol Fox's current hourly rate is $625.
Carol Fox, Senior Managing Director of GlassRatner, assured the
court that the firm is disinterested and does not represent or hold
any interest adverse to the Debtors or to the estates.
The firm can be reached through:
Carol Fox
GlassRatner Advisory & Capital Group, LLC
200 East Broward Blvd., Suite 1010
Fort Lauderdale, FL 33301
Tel: (954) 859-5075
Email: cfox@brileyfin.com
About Praesum Healthcare Services LLC
Praesum Healthcare Services LLC operates a network of behavioral
health and addiction treatment facilities across the United States,
offering a full continuum of care that includes medical
detoxification, residential rehabilitation, and outpatient
counseling. The Company's brands include Sunrise Detox, which
provides medically supervised detox services, Evolve Recovery
Center, which delivers residential treatment programs, and The
Counseling Center, which offers outpatient and intensive outpatient
therapy, with locations in multiple states including New Jersey,
New York, Massachusetts, Georgia, and Florida. Founded in 2004,
Praesum Healthcare manages more than two dozen centers under these
brands, serving individuals with substance use disorders and
co-occurring mental health conditions.
Praesum Healthcare Services LLC sought relief under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. S.D. Fla. Lead Case No. 25-19335)
on August 13, 2025. In its petition, the Debtor reports estimated
assets between $50 million and $100 million and estimated
liabilities between $10 million and $50 million.
Honorable Bankruptcy Judge Erik P. Kimball handles the case.
The Debtor is represented by Bradley S. Shraiberg, Esq. at
SHRAIBERG PAGE PA.
PRESENTATION MEDIA: Gets Interim OK to Use Cash Collateral
----------------------------------------------------------
Presentation Media, Inc. got the green light from the U.S.
Bankruptcy Court for the Central District of California, Los
Angeles Division, to use cash collateral.
At the hearing held on September 4, the court authorized the
Debtor's interim use of cash collateral through October 10 and set
a final hearing for October 9.
To maintain operations during the bankruptcy process, the Debtor
intends to use its cash collateral according to a detailed 16-week
projection, which anticipates $1.36 million in receipts, $1.31
million in disbursements, and an increase in cash from $33,539 to
$76,913.
Multiple entities, including the U.S. Small Business
Administration, the Economic Development Council, and various
merchant cash advance (MCA) lenders, may assert claims in the cash
collateral. The Debtor assumes, for now, that these liens are
properly perfected, enforceable, and that the SBA holds a senior
lien position.
As adequate protection, the Debtor offered these creditors
replacement liens on the same terms as their pre-petition security
interests but reserves the right to later challenge the validity or
priority of these claims. At the interim stage, the Debtor does not
offer any direct payments to secured creditors.
The Debtor filed for Chapter 11 bankruptcy protection to address
severe cash flow problems largely stemming from burdensome merchant
cash advance loans and the aftermath of COVID-19 disruptions. It
currently operates out of a consolidated facility in Gardena,
California, employs 21 full-time workers, and has taken
cost-cutting measures, including shutting down a second facility
and merging with NC Nielson Properties, LLC, which owned its
current premises, thereby eliminating rent payments.
The Debtor's recent financial troubles were exacerbated by the
COVID-19 pandemic, which halted trade shows, the Debtor's core
business, for over a year, causing major revenue losses. Although
trade shows resumed in late 2021 and demand initially surged, labor
shortages and inefficiencies plagued operations. In 2023, customer
demand dropped again, creating a pendulum effect in the business
cycle that left the Debtor overextended. The Debtor took out MCA
loans and an SBA loan at a high interest rate to cover expenses but
these debts ultimately strained liquidity further. Despite this,
the Debtor believes its business has stabilized and can reorganize
if debt burdens are reduced.
About Presentation Media Inc.
Presentation Media, Inc. provides visual presentation solutions and
manufacturing services primarily for the aerospace and defense
sectors, including clients such as Hughes (now Raytheon), Boeing,
Northrop Grumman, and NASA, and has since expanded to newer clients
like SpaceX, Tesla, Honda, and??????Lyft. Operating from its Los
Angeles facility, the Company produces large-format graphics,
dimensional letters, signs, 3D printing, sculptural art, and trade
show or museum exhibits, while offering services including 3D
modeling, graphic and interior design, exhibit design, engineering,
digital media, and onsite consultation.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-17723) on September
2, 2025. In the petition signed by Nathan Nielson, president and
CEO, the Debtor disclosed $5,990,852 in assets and $12,204,312 in
liabilities.
Steven R. Fox, Esq., at The Fox Law Corporation, represents the
Debtor as bankruptcy counsel.
QUALITY FIRST: Steffes Firm Represents B&S Equipment & Couvillion
-----------------------------------------------------------------
The law firm of The Steffes Firm, LLC filed a verified statement
pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure
to disclose that in the Chapter 11 case of Quality First
Construction, LLC, the firm represents B&S Equipment Co., Inc. and
Darryl Couvillion.
In connection with the Debtor's bankruptcy case, Steffes has been
retained to represent B&S Equipment Co., Inc. B&S's address for
purposes of this notice is as follows: c/o William E. Steffes, THE
STEFFES FIRM, LLC, 13702 Coursey Blvd., Bldg. 3, Baton Rouge, LA
70817.
In connection with the Debtor's bankruptcy case, Steffes has also
been retained to represent Darryl Couvillion. Couvillion's address
for purposes of this notice is as follows: c/o Barbara B. Parsons,
THE STEFFES FIRM, LLC, 13702 Coursey Blvd., Bldg. 3, Baton Rouge,
LA 70817.
Steffes is empowered to act on Behalf of B&S and Couvillion in the
Debtor's bankruptcy case. B&S and Couvillion are the only creditors
or other parties in interest in the Debtor's bankruptcy case for
which Steffes is required to file a Verified Statement pursuant to
Federal Rule of Bankruptcy Procedure 2019.
B&S and Couvillion's economic interests held in relation to the
Debtor are as creditors. B&S's economic interests are in the amount
of $427,885.39. Couvillion's economic interests are an in rem claim
in the amount of $561,826.16.
The law firm can be reached at:
William E. Steffes, Esq.
Barbara B. Parsons, Esq.
THE STEFFES FIRM, LLC
13702 Coursey Blvd., Building 3
Baton Rouge, Louisiana 70817
Telephone: (225) 751-1751
Facsimile: (225) 341-1241
E-mail: bsteffes@steffeslaw.com
About Quality First Construction
Quality First Construction, LLC provides marine transportation,
construction, and logistics services along the Gulf Coast. Its
operations include coastal restoration, dredging, oil and gas
support, emergency response and salvage, vessel repairs and
maintenance, and environmental services. Founded in 2005, the
company operates a fleet of vessels and continues to invest in
infrastructure and workforce development.
Quality First Construction sought relief under Subchapter V of
Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. La. Case No.
25-11157) on June 6, 2025. In its petition, the Debtor reported
between $1 million and $10 million in assets and liabilities.
Judge Meredith S. Grabill handles the case.
The Debtor is represented by Ryan J. Richmond, Esq., at Sternberg,
Naccari, & White, LLC.
R & L HANDYMAN: Gets Final OK to Use Cash Collateral
----------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida, Tampa
Division issued a final order authorizing R & L Handyman, Inc. to
use cash collateral from July 15 through the effective date of a
confirmed Chapter 11 plan.
The final order signed by Judge Catherine Peek McEwen authorized
the Debtor to use cash collateral to pay the amounts expressly
authorized by the court, including monthly 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 secured creditors.
Each creditor with a security interest in cash collateral will have
a perfected post-petition lien on the cash collateral to the same
extent and with the same validity and priority as its
pre-bankruptcy lien.
In addition, the Debtors were ordered to keep their property
insured in accordance with the obligations under the loan and
security documents with secured creditors.
The order preserves creditors' rights to seek modified adequate
protection or remedies if unauthorized expenditures occur. It does
not determine the validity, extent, or amount of any secured claims
or liens.
About R & L Handyman Inc.
R & L Handyman, Inc. sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. M.D. Fla. Case No. 8:25-bk-03055-CPM) on
May 9, 2025. In the petition signed by Elizabeth Perdue, vice
president, the Debtor disclosed up to $50,000 in assets and up to
$500,000 in liabilities.
Judge Catherine Peek McEwen oversees the case.
Matthew J. Kovschak, Esq., at Sutton Law Firm, represents the
Debtor as legal counsel.
RAYANI HOLDINGS: Seeks to Tap EXP Commercial as Real Estate Broker
------------------------------------------------------------------
Rayani Holdings, LLC seeks approval from the U.S. Bankruptcy Court
for the Eastern District of California to employ EXP Commercial of
California, Inc. as real estate broker.
The firm will market and sell the 8.4-acre real property located in
Lincoln, California.
The firm will be paid a commission of 5 percent of the sales
price.
As disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.
The firm can be reached at:
Christopher Rubio
EXP24 Commercial of California, Inc.
2603 Camino Ramon #200
San Ramon, CA 91316
Phone: (424) 302-5464
Email: info@lccinvestgroup.com
About Rayani Holdings LLC
Rayani Holdings LLC owns 8.4 acres located in Lincoln, CA being
subdivided from two to six parcels zoned for commercial use. The
property is valued at $7.5 million based on management's review.
Rayani Holdings LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Cal. Case No. 24-24147) on September
17, 2024. In the petition filed by Hooshang Fazeli, as managing
member, the Debtor reports total assets of $7,527,277 and total
liabilities of $4,736,040.
The Honorable Bankruptcy Judge Ronald H. Sargis handles the case.
The Debtor is represented by Stephen Reynolds, Esq. at REYNOLDS LAW
CORPORATION.
RENOVARO INC: Changes Corporate Name to Lunai Bioworks Inc.
-----------------------------------------------------------
Renovaro Inc. disclosed in a Form 8-K Report filed with the U.S.
Securities and Exchange Commission that the Company filed a
Certificate of Amendment to its Restated Certificate of
Incorporation with the Secretary of State of the State of Delaware
to change its corporate name from "Renovaro Inc." to "Lunai
Bioworks Inc."
The Name Change became effective on August 20, 2025.
The Company's common stock will continue to trade on the Nasdaq
under the ticker symbol RENB, although the CUSIP number for the
common stock will be changed as a result of the Name Change.
A copy of the Certificate of Amendment as filed with the Secretary
of State of the State of Delaware is available at
https://tinyurl.com/2ufyh2u9
About Renovaro Inc.
Headquartered in Los Angeles, Calif., Renovaro Inc. --
http://www.renovarobio.com-- formerly Renovaro BioSciences Inc.,
is a biotechnology company intending, if the necessary funding is
obtained, to develop advanced allogeneic cell and gene therapies to
promote stronger immune system responses potentially for long-term
or life-long cancer remission in some of the deadliest cancers, and
potentially to treat or cure serious infectious diseases such as
Human Immunodeficiency Virus (HIV) infections. As a result of the
Company's acquisition of GEDi Cube Intl on Feb. 13, 2024, the
Company has shifted the Company's primary focus and resources to
the development of the GEDi Cube Intl technologies.
Draper, Utah-based Sadler, Gibb & Associates, LLC, the Company's
auditor since 2018, issued a "going concern" qualification in its
report dated Oct. 10, 2024, citing that the Company has incurred
substantial recurring losses from operations, has used cash in the
Company's continuing operations, and is dependent on additional
financing to fund operations which raises substantial doubt about
its ability to continue as a going concern.
As of December 31, 2024, Renovaro had $111,340,272 in total assets,
$29,280,954 in total liabilities, and total stockholders' equity of
$82,059,318.
RING CONTAINER: S&P Rates Proposed $1BB First-Lien Term Loan B 'B'
------------------------------------------------------------------
S&P Global Ratings assigned its 'B' issue-level rating on Ring
Container Technologies Group LLC's proposed $1 billion first-lien
term loan B maturing 2032, with a '3' recovery rating. The '3'
recovery rating on the term loan B indicates its expectation for
meaningful recovery (50%-70%; rounded estimate: 50%) in the event
of a payment default.
Ring plans to use proceeds from the new $1 billion term loan B and
$50 million cash from its balance sheet to fully refinance the
outstanding $772 million term loan B and fund a $278 million
distribution to shareholders. Following close of the transaction,
S&P expects the company will have approximately $54 million cash on
its balance sheet and full availability on its $50 million
revolver.
The transaction will incrementally increase leverage, but S&P
expects S&P Global Ratings-adjusted debt to EBITDA to remain below
5.5x, under the 6.5x that it expects for the rating. S&P's 'B'
rating on Ring and stable outlook are unchanged.
Issue Ratings--Recovery Analysis
Key analytical factors
-- S&P's simulated default scenario considers a payment default in
2028, arising from an unexpected decline in profitability and cash
flow because of intense competition from new entrants in the
market, increased cost pressures, and customer attrition.
-- S&P believes Ring Container's lenders will aim to maximize its
value and pursue reorganization rather than liquidation in a
default scenario. Therefore, it values the company on a
going-concern basis, using a 5x multiple of its projected emergence
EBITDA.
Simulated default assumptions
-- Simulated year of default: 2028
-- EBITDA multiple: 5x
-- EBITDA at emergence: $124.7 million
-- Jurisdiction: U.S.
Simplified waterfall
-- Net enterprise value at default (after 5% administrative
costs): $591 million
-- Value available to first-lien debt (collateral/noncollateral):
$473.9 million/$74.5 million
-- Secured first-lien debt claims: $1.01 billion
--Recovery expectations: 50%-70% (rounded estimate: 50%)
-- S&P said, "Debt amounts include six months of accrued interest
that we assume will be owed at default. Collateral value includes
asset pledges from obligors (after priority claims) plus equity
pledges in nonobligors. We generally assume usage of 85% for cash
flow revolvers at default."
S & O INVESTMENTS: Seeks to Hire Coldwell Banker as Realtor
-----------------------------------------------------------
S & O Investments, Inc. seeks approval from the U.S. Bankruptcy
Court for the District of Kansas to hire Jeana Anliker and Coldwell
Banker, the Real Estate Shoppe as realtor.
The firm will market and sell the Debtor's property located at 3111
E. Spruce, Garden City, Kansas 67846 and 2504 E. Kansas Ave.,
Garden City, Kansas.
The realtor shall receive a commission of 5 percent of the gross
sale proceeds.
As disclosed in the court filings, Realtor Coldwell Bank holds no
interest or claims adverse to the bankruptcy estate and is a
disinterested person as that term is used in the Bankruptcy Code.
The firm can be reached through:
Jeana Anliker
Coldwell Banker The Real Estate Shoppe
1145 E. Kansas Plaza
Garden City, KS, 67846
Mobile: (620) 805-4543
Email: jeanaanliker@gmail.com
About S & O Investments Inc.
S & O Investments Inc., doing business as Notting Hill Rentals, is
engaged in activities related to real estate.
S & O Investments Inc. and affiliates sought relief under Chapter
11 of the U.S. Bankruptcy Code (Bankr. D. Kan. Lead Case No.
24-11166) on November 14, 2024. In the petition filed by Amro M.
Samy, as president, the Debtor reports estimated assets up to
$50,000 and estimated liabilities between $1 million and $10
million.
Honorable Bankruptcy Judge Mitchell L. Herren oversees the case.
The Debtor is represented by Nicholas R. Grillot, Esq. at HINKLE
LAW FIRM LLC.
S&R EQUIPMENT: Unsecured Creditors to Split $50K in Plan
--------------------------------------------------------
S&R Equipment Rentals LLC filed with the U.S. Bankruptcy Court for
the Eastern District of Michigan a Plan of Reorganization dated
August 27, 2025.
The Debtor is a Michigan limited liability company in good
standing. It operates a small equipment rental business in
Highland, Michigan. Its sole member and owner is Kenneth Sullivan.
The Debtor purchased the business in 2015, its sole
shareholder/member has always been Kenneth Sullivan. At the time of
purchase, the Debtor borrowed a large amount from Oxford Bank (SBA
guaranteed). When the Debtor defaulted to Oxford Bank, the loan was
accelerated and legal action commenced by the bank including a
claim and delivery account. Faced with seizure of its asses, this
Chapter 11 was filed.
The Debtor's financial projections show that the Debtor will have
projected disposable income in an amount sufficient to meet the
requirement of this Plan.
Class 8 consists of General Unsecured Claims. The total amount of
unsecured debt totals $1,270,185. Unsecured creditors shall share
in sum total of $50,000 over the life of the plan. These funds
shall be paid quarterly with the first of 16 quarterly payments of
$3125 due 12 months from confirmation with each creditor paid on a
prorate basis. This Class is impaired.
A full-text copy of the Plan of Reorganization dated August 27,
2025 is available at https://urlcurt.com/u?l=kuUYbE from
PacerMonitor.com at no charge.
The firm can be reached at:
George E. Jacobs, Esq.
Bankruptcy Law Offices
2425 S. Linden Rd., Ste. C
Flint, MI 48532
Tel: (810) 720-4333
Email: George@bklawoffice.com
About S&R Equipment Rentals
S&R Equipment Rentals LLC, doing business as Tool Time Equipment
Rental & Sales, provides construction equipment rental and sales
services across Central and Southeast Michigan, as well as
neighboring states. Operating for over 18 years, the Debtor serves
a diverse clientele that includes Fortune 500 firms, contractors,
and homeowners. Its equipment offerings include excavators, lifts,
landscaping tools, air compressors, forklifts, skidloaders,
trailers, and more.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Mich. Case No. 25-45516) on May 29,
2025. In the petition signed by Kenneth Sullivan, sole shareholder,
the Debtor disclosed up to $1 million in assets and up to $10
million in liabilities.
Judge Mark A. Randon oversees the case.
George E. Jacobs, Esq., at Bankruptcy Law Offices, represents the
Debtor as counsel.
Oxford Bank, as secured creditor, is represented by:
Kelly J. Shefferly, Esq.
Plunkett Cooney
38505 Woodward Avenue, Suite 100
Bloomfield Hills, MI 48304
(248) 594-6309
kshefferly@plunkettcooney.com
S&S FOODS: Hires Silver Financial Administration as Accountant
--------------------------------------------------------------
S&S Foods, Inc. seeks approval from the U.S. Bankruptcy Court for
the District of Massachusetts to employ Silver Financial
Administration as accountant.
The firm will render these services:
(a) assist the Debtor in the preparation and filing of its tax
returns, bookkeeping and tax preparation, profit loss reporting,
and balance sheet preparation; and
(b) aide in the preparation of Monthly Operating Reports as
required by the Officer of the United States Trustee and other
accounting and reporting required in this Chapter 11 proceeding.
The firm will be paid at a monthly rate of $666.66 and a yearly
rate of $8,000.
Arthur Silver, the primary accountant in this representation,
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:
Arthur Silver
Silver Financial Administration
89 Newbury Street
Danvers, MA 01923
About S&S Foods Inc.
S&S Foods, Inc. sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Mass. Case No. 25-11148) with up to
$50,000 in assets and up to $50,000 in liabilities.
Judge Hon. Christopher J. Panos oversees the case.
The Debtor tapped the Law Offices of John F. Sommerstein as counsel
and Silver Financial Administration as accountant.
S.K. MANAGEMENT: Unsecureds Will Get 1.36% Dividend over 60 Months
------------------------------------------------------------------
S.K. Management of New York, Inc. filed with the U.S. Bankruptcy
Court for the Eastern District of New York a Disclosure Statement
describing Plan of Reorganization dated August 29, 2025.
The Debtor is a corporation with a principal place of business at
2508 Coney Island Ave, 1 fl, Brooklyn, NY 11223.
The Debtor commenced this bankruptcy case with the filing of a
voluntary petition under Chapter 11 on March 2, 2022. The Debtor
has continued in the possession of its business assets as debtor in
possession, pursuant to Sections 1108 and 1109 of the Bankruptcy
Code.
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 the
court order.
Class I shall consist of the general unsecured claim of Joint Stock
Company "Channel One Russia Worldwide" filed in the amount of
$3,666,000.00. The claim will be paid 1.36% dividend ($49,857.60)
in 60 monthly installment payments in the amount of $830.96,
commencing on the effective date of the plan.
Closed Joint Stock Company 'CTC Network', Limited Liability Company
'Rain TV-Channel', Closed Joint Stock Company 'TV Darial' have
failed to provide their allegations of FCA Section 605(a) or the
Copyright Act violations, and thus as per the recommendation by
Magistrate Judge Moses, in the decision on the motion for summary
judgement as to their claims under the FCA and the Copyright Act,
the summary judgment motion was denied in its entirety.
Class II consists of equity interest holders. Sam Katsman, the sole
interest holder, shall retain his interest in the Debtor following
confirmation, in consideration of a new value contribution, to be
made by him as the equity holder, toward the payment of general
unsecured creditor claims, as needed.
Sam Katsman, as a Debtor's principal and the sole shareholder, will
continue to be employed by the reorganized debtor.
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.
A full-text copy of the Disclosure Statement dated August 29, 2025
is available at https://urlcurt.com/u?l=9P1L0E from
PacerMonitor.com at no charge.
Counsel to the Debtor:
Alla Kachan, Esq.
Law Offices of Alla Kachan, P.C.
2799 Coney Island Avenue, Suite 202
Brooklyn, NY 11235
Tel: (718) 513-3145
Fax: (347) 342-3156
Email: alla@kachanlaw.com
About S.K. Management of New York
S.K. Management of New York, Inc., is a corporation with a
principal place of business at 2508 Coney Island Ave, 1 fl,
Brooklyn, NY 11223.
The Debtor filed its voluntary petition for relief under Chapter 11
of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 22-40603) on March
24, 2022, listing $41.81 in assets and $3,666,000 in liabilities.
Sam Katsman, president, signed the petition.
Judge Elizabeth S. Stong oversees the case.
Alla Kachan, Esq., at the Law Offices of Alla Kachan represents the
Debtor as legal counsel.
SAFE & GREEN: Shareholders OK Reverse Stock Split
-------------------------------------------------
Safe & Green Holdings Corp. disclosed in a Form 8-K Report filed
with the U.S. Securities and Exchange Commission that at a special
meeting of stockholders of the Company, the stockholders of the
Company voted on the following three (3) proposals. These matters
are described in detail in the Definitive Proxy Statement.
The final results for Proposals 1 ??? 3 as set forth in the
Definitive Proxy Statement are as follows:
Proposal No. 1: The stockholders approved to grant discretionary
authority to the Company's board of directors to:
(i) amend the Company's articles of incorporation to combine
outstanding shares of the Company's Common Stock into a lesser
number of outstanding shares, or a "reverse stock split," at a
ratio within a range of one-for-ten (1-for-10) to a maximum of a
one-for-one-hundred (1-for-100), with the exact ratio to be
determined by the board of directors in its sole discretion; and
(ii) effect the reverse stock split, if at all, within one year
of the date of the proposal is approved by stockholders, as
disclosed in the Definitive Proxy Statement.
* Votes For: 4,115,971
* Votes Against: 74,101
* Abstain: 1,245
* Broker Non-Votes: n/a
Proposal No. 2: The stockholders approved, for purposes of
complying with Nasdaq listing rule 5635(d), the issuance of the
Conversion Shares pursuant to the Series B Preferred Stock,
including the issuance of all of the Conversion Shares in excess of
19.99% of the issued and outstanding Common Stock on July 17, 2025,
as disclosed in the Definitive Proxy Statement. The results of the
voting for this proposal were as follows:
* Votes For: 4,107,320
* Votes Against: 82,643
* Abstain: 1,354
* Broker Non-Votes: n/a
Proposal No. 3: The stockholders approved the adjournment of the
Special Meeting, based on the votes set forth below; however, an
adjournment was not needed as Proposals 1 and 2 received sufficient
number of votes for approval. The results of this proposal were as
follows:
* Votes For: 4,114,648
* Votes Against: 49,922
* Abstain: 26,747
* Broker Non-Votes: n/a
About Safe & Green
Safe & Green Holdings Corp. is a modular solutions company
headquartered in Miami, Florida. The company specializes in the
development, design, and fabrication of modular structures,
focusing on safe and green solutions across various industries.
The Woodlands, Texas-based M&K CPAS, PLLC, 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 Dec. 31, 2024, citing that the Company
has incurred net losses since its inception, negative working
capital, and negative cash flows from operations, which raises
substantial doubt about its ability to continue as a going
concern.
As of Dec. 31, 2024, the Company had $6,071,524 in total assets,
$18,531,832 in total liabilities, and a total stockholders' deficit
of $12,460,308.
SAMMY G'S DISTRICT: Seeks to Hire Baker & Associates as Attorney
----------------------------------------------------------------
Sammy G's District 70 BBQ & Grill seeks approval from the U.S.
Bankruptcy Court for the Southern District of Texas to hire Baker &
Associates as attorneys.
The firm will provide these services:
(a) analyze the financial situation, and render advice and
assistance to the Debtor;
(b) advise the Debtor with respect to its duties;
(c) prepare and file all appropriate legal papers;
(d) represent the Debtor at the first meeting of creditors and
such other services as may be required during the course of the
bankruptcy proceedings;
(e) represent the Debtor in all proceedings before the court
and in any other judicial or administrative proceeding where its
rights may be litigated or otherwise affected;
(f) prepare and file a disclosure statement (if required) and
Chapter 11 plan of reorganization; and
(g) assist the Debtor in any matters relating to or arising
out of the captioned case.
Prior to the filing of the case, Samuel C. Grizzaffi, the sole
member of the Debtor, delivered to Baker a promissory note payable
by Samuel C. Grizzaffi, individually and not the Debtor, in the
amount of $15,000 on August 19, 2025. The pre filing amounts and
filing fee will be paid from the promissory note executed by Samuel
C. Grizzaffi.
Reese Baker, Esq. disclosed in a court filing that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firm can be reached through:
Reese W. Baker, Esq.
Baker & Associates
950 Echo Lane Suite 300
Houston, TX 77024
Telephone: (713) 979-2251
About Sammy G's District 70 BBQ & Grill LLC
Sammy G's District 70 BBQ & Grill, LLC operates a restaurant in
Seabrook, Texas.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-34839) on August 20,
2025. In the petition signed by Sammy Grizzaffi, owner/managing
partner, the Debtor disclosed up to $500,000 in assets and up to
$100,000 in liabilities.
Judge Jeffrey P. Norman oversees the case.
Reese Baker, Esq., at Baker & Associates, represents the Debtor as
legal counsel.
SANTA FE: Seeks to Hire Mullin Hoard & Brown as Bankruptcy Counsel
------------------------------------------------------------------
Santa Fe Specialty Foods, LLC seeks approval from the U.S.
Bankruptcy Court for the Northern District of Texas to employ
Mullin Hoard & Brown LLP as counsel.
The firm will provide these services:
(a) prepare all legal papers necessary to comply with the
requisites of the United States Bankruptcy Code and Bankruptcy
Rules;
(b) advise the Debtor regarding preparation of operating
reports; motion to obtain post-petition financing, motion to pay
critical vendors; and development of a Chapter 11 Plan; and
(c) provide all other legal services ordinarily associated
with a bankruptcy case.
The firm will be paid at these hourly rates:
Partners and Associates $225 - $520
Paralegals $155 - $185
Law Clerks $110
In addition, the firm will seek reimbursement for expenses
incurred.
David Langston, Esq., an attorney at Mullin Hoard & Brown,
disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.
The firm can be reached through:
David R. Langston, Esq.
Mullin Hoard & Brown, LLP
P.O. Box 2585
Lubbock, TX 79408
Telephone: (806) 765-7491
Facsimile: (806) 765-0553
About Santa Fe Specialty Foods
Santa Fe Specialty Foods, LLC filed a petition under Chapter 11,
Subchapter V of the Bankruptcy Code (Bankr. N.D. Tex. Case No.
25-50214) on August 4, 2025, with up to $50,000 in assets and up to
$50,000 in liabilities.
David R. Langston, Esq., at Mullin, Hoard & Brown represents the
Debtor as counsel and Ag Management Group as cash flow consultant.
SANTA FE: Seeks to Tap Ag Management Group as Cash Flow Consultant
------------------------------------------------------------------
Santa Fe Specialty Foods, LLC seeks approval from the U.S.
Bankruptcy Court for the Northern District of Texas to employ Ag
Management Group as cash flow consultant.
The firm will prepare cash flow projections in order to enable the
Debtor to prepare cash flows to support its Chapter 11 Plan and
demonstrate the feasibility of the Plan.
Bart Schilling, the consultant in this representation, will be paid
at his hourly rate of $150 plus expenses.
Mr. Schilling 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:
Bart Schilling
Ag Management Group
11915 Frankford Ave., Ste. 300
Lubbock, TX 79424
Telephone: (806) 786-3258
Email: bart@agmanagement.net
About Santa Fe Specialty Foods
Santa Fe Specialty Foods, LLC filed a petition under Chapter 11,
Subchapter V of the Bankruptcy Code (Bankr. N.D. Tex. Case No.
25-50214) on August 4, 2025, with up to $50,000 in assets and up to
$50,000 in liabilities.
David R. Langston, Esq., at Mullin, Hoard & Brown represents the
Debtor as counsel and Ag Management Group as cash flow consultant.
SAY IT VISUALLY: Hires Neeleman Law Group as Bankruptcy Counsel
---------------------------------------------------------------
Say it Visually, Inc. seeks approval from the U.S. Bankruptcy Court
for the Western District of Washington to employ Neeleman Law
Group, PC as counsel.
The firm will render these services:
(a) assist the Debtor in the investigation of the financial
affairs of the estate;
(b) advise and assist the Debtor with respect to matters
relating to this case and creditor distribution;
(c) prepare all pleadings necessary for proceedings arising
under this case; and
(d) perform all necessary legal services for the estate in
relation to this case.
The firm will be paid at these hourly rates:
Principals $600
Associate $475
Paralegal $250
In addition, the firm will seek reimbursement for expenses
incurred.
The firm received a retainer of $16,738 from the Debtor.
Jennifer Neeleman, Esq., an attorney at Neeleman Law Group,
disclosed in a court filing that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code.
The firm can be reached through:
Jennifer L. Neeleman, Esq.
Neeleman Law Group, PC
1403 8th Street
Marysville, WA 98270
Telephone: (425) 212-4800
Email: jennifer@neelemanlaw.com
About 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.
SERENITY TENDER: Gets OK to Hire Davis Miles as Bankruptcy Counsel
------------------------------------------------------------------
Serenity Tender Care Services, LLC received approval from the U.S.
Bankruptcy Court for the District of Arizona to employ Davis Miles
PLLC as counsel.
The firm will render these services:
(a) advise the Debtor as to its rights, duties, and powers;
(b) prepare and file statements, schedules, plans, and other
documents and pleadings necessary to be filed by the Debtor in this
case;
(c) represent the Debtor at all hearings, meetings of
creditors, trials, conferences, and other proceedings in this case;
and
(d) perform such other legal services as may be necessary in
connection with this case.
The hourly rates of the firm's counsel and staff are as follows:
Partners $420 - $480
Associates $290 - $340
Paralegals $140 - $180
In addition, the firm will seek reimbursement for expenses
incurred.
The firm also requests an initial retainer of $12,636 from the
Debtor.
M. Preston Gardner, Esq, an attorney at Davis Miles, 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:
M. Preston Gardner, Esq.
Davis Miles, PLLC
999 E. Playa del Norte, Suite 510
Tempe, AZ 85288
Telephone: (480) 733-6800
Facsimile: (480) 733-3748
Email: pgardner@davismiles.com
About Serenity Tender Care Services
Serenity Tender Care Services, LLC sought protection under Chapter
11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 25-07941)
on August 22, 2025, with $500,001 to $1 million in assets and
$1,000,001 to $10 million in liabilities.
M. Preston Gardner, Esq., at Davis Miles, PLLC represents the
Debtor as counsel.
SERENITY TENDER: Gets OK to Use Cash Collateral Until Oct. 31
-------------------------------------------------------------
Serenity Tender Care Services, LLC got the green light from the
U.S. Bankruptcy Court for the District of Arizona to use cash
collateral.
The court authorized the Debtor's interim use of cash collateral
through October 31 to pay operating expenses in accordance with its
budget.
As adequate protection for the Debtor's use of their cash
collateral, the U.S. Small Business Administration and other
secured creditors will be granted a replacement lien on assets,
including cash collateral, acquired by the Debtor after the
petition date. The replacement lien will have the same validity,
priority and extent as the pre-petition liens held by the secured
creditors.
In addition, SBA will receive a monthly payment of $195 from the
Debtor starting September 21 as further protection.
Starting September 21, the Debtor will also make interim monthly
payments of $3,500 to the Subchapter V trustee and $1,500 to its
legal counsel, Davis Miles, PLLC, to be held in trust pending court
approval of fees and costs.
A final hearing is set for October 30. Objections are due by
October 23.
The Debtor has operated since 2017, providing caregiving and social
services to individuals with developmental disabilities throughout
Arizona. It owns commercial property in Glendale, Arizona, and
rents office space in Tempe.
As of the petition date, the Debtor had $160,160 in cash
collateral, comprised of $96,957 in bank accounts and $63,203 in
accounts receivable. Payroll is the Debtor's largest monthly
expense at approximately $99,992, supporting 32 employees. The
Debtor's income primarily comes from billable services reimbursed
by the Arizona Department of Economic Security, which typically
pays within two weeks of billing. The Debtor relies entirely on
this revenue stream and the use of cash collateral to maintain
operations, cover payroll through ADP, and pay other necessary
business expenses. Without this use, the Debtor cannot meet
financial obligations and risks business disruption and loss of
asset value.
The Debtor identifies three potential secured creditors with
interests in the cash collateral: the SBA, with a first-position
lien for $43,523 (believed to be fully secured), Kapitus, LLC with
a second-position lien for $163,291 (partially secured), and an
unknown lienholder with a possible third-position lien (believed to
be wholly unsecured).
The SBA and Kapitus have filed UCC-1 financing statements with the
Arizona Secretary of State, and a third UCC-1 was filed by
Corporation Service Company on behalf of the unknown creditor.
????????????????????????????????About Serenity Tender Care
Services
Serenity Tender Care Services, LLC filed a petition under Chapter
11, Subchapter V of the Bankruptcy Code (Bankr. D. Ariz. Case No.
25-07941) on August 22, 2025, with $500,001 to $1 million in assets
and $1,000,001 to $10 million in liabilities. Michael Carmel of
Michael Carmel, Ltd. serves as Subchapter V trustee.
M. Preston Gardner, Esq., at Davis Miles, PLLC represents the
Debtor as legal counsel.
SHARPLINK GAMING: Buys 56,533 ETH; $1.5B Stock Buyback Plan OK'd
----------------------------------------------------------------
SharpLink Gaming, Inc. issued its update on the Company's ETH
purchases for the period Monday, August 18, 2025 through Sunday,
August 24, 2025; and capital raised through its At-the-Market
facility during the week Monday, August 18 through Friday, August
22, 2025.
Joseph Chalom, Co-Chief Executive Officer of SharpLink, stated,
"Our regimented execution of SharpLink's ETH treasury strategy
continues to demonstrate the strength of our vision and the
commitment of our team. With nearly 800,000 ETH now in reserve and
strong liquidity available for further ETH acquisitions, our focus
on building long-term value for our stockholders while
simultaneously supporting the broader Ethereum ecosystem remains
unwavering."
Key Highlights for the Week Ending August 24, 2025:
* Purchased 56,533 ETH.
* $360.9 million in net proceeds were raised through the ATM
facility this past week.
* Average ETH purchase price for the week was $4,462.
* Total ETH holdings increased to 797,704, currently valued at
approximately $3.7 billion.
* Total staking rewards rose to 1,799 ETH since launch of
treasury strategy on June 2, 2025.
* Approximately $200 million cash on hand yet to be deployed
into ETH acquisitions.
* ETH Concentration on a cash-converted basis* exceeds 4.00,
up over 100% since June 2, 2025.
* On August 18, 2025, SharpLink's Board approved a $1.5
billion stock buyback plan.
ETH Update:
During the period from August 18, 2025 through August 24, 2025, the
Company acquired 56,533 ETH for an aggregate purchase price of
approximately $252.2 million (inclusive of fees and expenses) at a
weighted average purchase price per ETH of $4,462 (inclusive of
fees and expenses). The purchases were made using the proceeds the
Company received from the ATM Facility as described herein. The
Company engages in staking activities with respect to its ETH.
As of August 24, 2025, substantially all of the ETH Holdings were
deployed in staking, including through liquid staking.
Additionally, the Company's aggregate ETH Holdings were 797,704.
As of August 17, 2025, the Company has generated 1,799 ETH staking
rewards, since launching its ETH treasury strategy on June 2, 2025.
The Company note that aspects of its Staking Activities may be
subject to government regulation and guidance subject to change.
At-the-Market Facility:
During the period from August 18, 2025, through August 22, 2025,
the Company sold a total of 18.6 million shares of the Company's
common stock, par value $0.0001 per share, for net proceeds of
approximately $360.9 million pursuant to the ATM Facility.
About SharpLink Gaming
SharpLink Gaming, Inc., operates as a marketing partner to
sportsbooks and online casino gaming operators globally. SharpLink
Gaming operates as a marketing partner to sportsbooks and online
casino gaming operators globally. Based in Minneapolis, Minnesota,
the Company operates PAS.net, an affiliate marketing network that
facilitates player acquisition and engagement for regulated iGaming
operators. It also manages a portfolio of state-specific affiliate
websites targeting local sports betting and online casino
audiences. It also manages a portfolio of state-specific affiliate
websites targeting local sports betting and online casino
audiences.
Cherry Bekaert LLP, the Company's auditor since 2022, included a
"going concern" qualification in its audit report dated March 14,
2025, for the fiscal year ended December 31, 2024. The firm cited
recurring losses and negative operating cash flows as factors that
raise substantial doubt about the Company's ability to continue
operating.
As of Dec. 31, 2024, the Company had $2.57 million in total assets
against $488,300 in total liabilities. As of June 30, 2025, the
Company had $453.92 million in total assets, including $382.4
million in digital tangible assets, against $1.393 million in total
liabilities.
SHERLAND & FARRINGTON: Seeks Cash Collateral Access Until Oct. 3
----------------------------------------------------------------
Sherland & Farrington, Inc asks the U.S. Bankruptcy Court for the
Eastern District of New York for authority to use cash collateral
to fund operations.
The Debtor seeks to use up to $325,000 in cash collateral through
October 3 in accordance with a proposed budget, retain
approximately $51,000 held in pre-petition bank accounts, and
collect post-petition revenue from sales.
To protect the interests of secured lenders, the Debtor proposes
granting adequate protection in the form of replacement liens on
all current and future assets, subject to valid, pre-existing
senior liens. These liens would be automatically perfected without
the need for additional filings. The Debtor requests that the
secured lenders be prohibited from exercising setoff or recoupment
rights without first obtaining court approval.
The Debtor's assets, which include inventory, leasehold
improvements, goodwill, and revenue from sales, are valued at
approximately $3.17 million. Its secured debt totals about $3.59
million, including a disputed $629,625 claim asserted by Skanska
USA Building, Inc.
Prior to the bankruptcy filing, the Debtor obtained financing from
multiple secured lenders, including Columbia Bank, the U.S. Small
Business Administration, the Internal Revenue Service, and Skanska.
Each lender has filed UCC-1 financing statements to perfect its
security interests.
Columbia Bank is believed to hold a first-priority lien on the
Debtor's assets based on a $1.75 million loan. The SBA claims a
perfected lien for a $478,000 loan, and the IRS has asserted a tax
lien of over $581,000, which the Debtor disputes. Skanska filed a
UCC-1 for a $629,625 debt related to construction materials, which
the Debtor also disputes, asserting that the lien was improperly
filed and should have been terminated.
About Sherland & Farrington Inc.
Sherland & Farrington, Inc. provides commercial flooring services
including consultation, design specification, renovation logistics
and installation for corporate clients. The company has operated
for more than five decades in the New York area, working with
businesses on large-scale flooring projects. It is a founding
member of Fuse Alliance, a network of independent flooring
contractors.
Sherland & Farrington sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-73272) on August 26,
2025. In its petition, the Debtor reported total assets of
$3,165,506 and total liabilities of $7,917,185.
Honorable Bankruptcy Judge??Alan S. Trust handles the case.
The Debtor is represented by Fred S. Kantrow, Esq., at The Kantrow
Law Group, PLLC.
SILVERROCK DEVELOPMENT: Plan Exclusivity Period Extended to Dec. 1
------------------------------------------------------------------
Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District
of Delaware extended SilverRock Development Company, and
affiliates' exclusive periods to file a plan of reorganization and
obtain acceptance thereof to December 1, 2025 and January 31, 2026,
respectively.
As shared by Troubled Company Reporter, the Debtors submit that
cause exists to further extend the Exclusive Periods and that the
following factors, among others, weigh in favor of such extension:
* The Size and Complexity of these Chapter 11 Cases. These
chapter 11 cases are large and complex. The Debtors have spent
seven months of these chapter 11 cases conducting the post petition
sale process, which efforts have included (i) obtaining entry of
the Bid Procedures Order, (ii) selecting a Stalking Horse Bidder
(iii) qualifying additional Qualified Bidders, and (iv) obtaining
entry of the Auction Procedures Order. The Debtors are now poised
to conduct the Auction with the goal of obtaining the highest or
otherwise best offer available for their Assets from the Qualified
Bidders.
* A Further Extension of the Exclusive Periods Will Not
Prejudice Creditors. The extension of the Exclusive Periods
requested by this Motion is requested to give the Debtors and their
advisors time to devote their attention to the sale process up to
and including the Outside Sale Closing Date, whereupon the Debtors
and their advisors will be able to devote their attention to any
chapter 11 plan in these cases. Thus, the Debtors' request for an
extension of the Exclusivity Periods is not being made for the
impermissible purpose of pressuring creditors to agree to a plan of
reorganization.
* The Debtors are Paying Their Debts as They Come Due. The
requested extension of the Exclusive Periods is also appropriate
because the Debtors continue to timely pay their undisputed
post-petition obligations. The requested extension of the Exclusive
Periods will afford the Debtors a meaningful opportunity to
continue negotiations with key parties in order to bring the sale
process to a successful conclusion on or before the Outside Sale
Closing Date and to attend to various other ongoing matters in
these chapter 11 cases without prejudice to parties in interest.
Counsel to the Debtors:
ARMSTRONG TEASDALE LLP
Jonathan M. Stemerman, Esq.
Eric M. Sutty, Esq.
1007 North Market Street, Third Floor
Wilmington, Delaware 19801
Telephone: (302) 416-9670
Email: jstemerman@atllp.com
esutty@atllp.com
-and-
Victor A. Vilaplana, Esq.
823 La Jolla Rancho Rd.
La Jolla, CA 92037
Telephone: (619) 840-4130
Email: vavilaplana@g
-and-
Benjamin M. Carson, Esq.
5965 Village Way, STE E105
San Diego, CA 92130
Telephone: (858) 255-4529
Email: ben@benjamincarsonlaw.com
About SilverRock Development Company
SilverRock Development Company, LLC, is a San Diego, Calif.-based
company primarily engaged in renting and leasing real estate
properties.
SilverRock filed Chapter 11 petition (Bankr. D. Del. Lead Case No.
24-11647) on Aug. 5, 2024, with $100 million to $500 million in
both assets and liabilities. Robert S. Green, Jr., chief executive
officer, signed the petition.
Judge Mary F. Walrath handles the case.
The Debtor is represented by Jonathan M. Stemerman, Esq., at
Armstrong Teasdale.
SLM SERVICES: Hires Jeffrey Hellman LLC as Bankruptcy Counsel
-------------------------------------------------------------
SLM Services LLC 2025 seeks approval from the U.S. Bankruptcy Court
for the District of Connecticut to employ the Law Offices of
Jeffrey Hellman, LLC as its legal counsel.
The firm's services include:
a. advising the Debtor of its rights, powers and duties as
Debtor-in-Possession continuing to operate and manage it business
and property;
b. advising and assisting in the negotiation and documentation
of financing agreements, debt restructuring, cash collateral orders
and related transactions;
c. reviewing the nature and validity of liens asserted against
the property of the Debtor and advising the Debtor concerning the
enforceability of such liens;
d. advising the Debtor concerning the actions that it might
take to collect and to recover property for the benefit of the
Debtor's estate;
e. preparing necessary legal papers;
f. advising and preparing responses to applications, motions,
pleadings, notices, and other papers which will be filed and served
in this Chapter 11 case;
g. counseling the Debtor in connection with the formulation,
negotiation, and promulgation of a plan of reorganization and
related documents; and
h. performing all other legal services.
James Barrett, managing member of the Debtor, paid the firm a
retainer of $20,000 from Northeast Horticultural Experts, LLC.
Jeffrey Hellman does not represent any interest adverse to the
Debtor and its bankruptcy estate, according to court filings.
The firm can be reached through:
Jeffrey Hellman, Esq.
Law Offices of Jeffrey Hellman, LLC
195 Church Street 10th Floor
New Haven, CT 06510
Phone: (203) 691-8762
Fax: (203) 823-4401
Email: jeff@jeffhellmanlaw.com
About SLM Services LLC
SLM Services LLC, DBA Northeast Horticultural Services, provides
tree care and organic landscaping services in Fairfield County,
Connecticut, including Fairfield, Weston, and Westport. The Company
offers plant health care, tree removal, landscape design, and
organic lawn care, with a focus on environmentally friendly
practices. It serves both residential and commercial clients.
SLM Services LLC sought relief under Subchapter V of Chapter 11 of
the U.S. Bankruptcy Code (Bankr. D. Conn. Case No. 25-50514) on
June 24, 2025. In its petition, the Debtor reports total assets of
$2,855,436 and total liabilities of $1,054,34.
The Debtors are represented by Jeffrey Hellman, Esq. at LAW OFFICES
OF JEFFREY HELLMAN, LLC.
SOLUTION ENGINEERING: Seeks to Tap Robert M. Stahl as Counsel
-------------------------------------------------------------
Solution Engineering for Reliable and Viable Enterprises (SERVE)
Advisory Group, LLC seeks approval from the U.S. Bankruptcy Court
for the District of Maryland to employ the Law Offices Robert M.
Stahl, LLC as counsel.
The firm's services include:
(a) advise the Debtor of its rights, powers and duties;
(b) advise the Debtor concerning, and assist in the
negotiation and documentation of, financing agreements, debt
restructurings, cash collateral arrangements and related
transactions;
(c) represent the Debtor in defense of any proceedings
instituted to reclaim property or to obtain relief from the
automatic stay under Section 362(a) of the Bankruptcy Code;
(d) represent the Debtor in any proceedings instituted with
respect to certain its use of cash collateral;;
(e) review the nature and validity of liens asserted against
the property of the Debtor and advise concerning the enforceability
of such liens;
(f) advise the Debtor concerning the actions that it might
take to collect and to recover property for the benefit of its
estate;
(g) prepare on behalf of the Debtor all necessary and
appropriate legal documents, and review all financial and other
reports to be filed in this Chapter 11 case;
(h) advise the Debtor concerning, and prepare response to,
legal papers that may be filed and served in this Chapter 11 case;
(i) counsel the Debtor in connection with the formulation,
negotiation and promulgation of a plan of reorganization or
liquidation and related documents; and
(j) perform all other legal services it is qualified to handle
for and on behalf of the Debtor that may be necessary or
appropriate in the administration of this Chapter 11 case.
The firm will be paid at these hourly rates:
Robert Stahl, Attorney $500
Paralegals $240
In addition, the firm will seek reimbursement for expenses
incurred.
The firm received an initial retainer of $16,100 from the Debtor.
Mr. Stahl disclosed in a court filing that his firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.
The firm can be reached through:
Robert M. Stahl, Esq.
Law Offices of Robert M. Stahl, LLC
1142 York Road
Lutherville, MD 21093
Telephone: (410) 825-4800
Facsimile: (410) 825-4880
Email: Robstahl.law@gmail.com
About Solution Engineering for Reliable
and Viable Enterprises (SERVE) Advisory Group LLC
Solution Engineering for Reliable and Viable Enterprises (SERVE)
Advisory Group LLC, doing business as SERVE, is a Maryland-based
consulting firm that provides healthcare technology and management
advisory services, primarily to U.S. federal agencies through
government contracts.
Solution Engineering for Reliable and Viable Enterprises (SERVE)
Advisory Group LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Md. Case No. 25-17625) on August 20,
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 Maria Ellena Chavez-Ruark handles the
case.
The Debtor is represented by Robert M. Stahl, Esq., at the Law
Offices of Robert M. Stahl.
SPECIALTY CARTRIDGE: Gets Extension to Access Cash Collateral
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Georgia,
Atlanta Division issued a fourth interim order authorizing
Specialty Cartridge, Inc. to continue using cash collateral of
Pinnacle Bank, the primary secured lender.
The order penned by Judge Paul Bonapfel authorized the Debtor's
interim use of cash collateral to fund its operations from August
29 through the date of the final hearing.
The final hearing is scheduled for October 15.
The Debtor claims it owes Pinnacle Bank approximately $6.18 million
under various loan and lease agreements.
As protection for the use of its cash collateral, Pinnacle Bank was
granted a replacement lien on assets acquired by the Debtor after
the petition date. These assets do not include Chapter 5 proceeds.
A copy of the court's order and the budget is available at
https://shorturl.at/KuIC0 from PacerMonitor.com.
About Specialty Cartridge Inc.
Specialty Cartridge, Inc., doing business as Atlanta Arms,
manufactures precision ammunition for handguns and rifles. Based in
Covington, Ga., the company supplies law enforcement agencies,
military clients, and shooting sports professionals. It operates
out of a 20,000-square-foot climate-controlled facility.
Specialty Cartridge sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-55193) on May 7, 2025.
In its petition, the Debtor reported total assets of $15,065,301
and total liabilities of $8,137,719.
G. Frank Nason, IV, Esq., at Lamberth Cifelli Ellis & Nason, PA is
the Debtor's legal counsel.
Pinnacle Bank, as secured lender, is represented by:
Michael B. Pugh, Esq.
Thompson, O'Brien, Kappler & Nasuti, P.C.
2 Sun Court, Suite 400
Peachtree Corners, GA 30092
Telephone: (770) 925-0111
Fax: (770) 925-8597
mpugh@tokn.com
SPIRIT AIRLINES: Gets Court OK to Keep Business Running in Ch. 11
-----------------------------------------------------------------
Jake Hardiman of Simple Flying reports that Spirit Airlines has
confirmed it will continue operating flights as normal after
receiving approval from the U.S. Bankruptcy Court for the Southern
District of New York to proceed with its Chapter 11 restructuring.
The airline filed for bankruptcy last week???the second time in
less than a year -- sparking turbulence in the budget carrier
market and lifting shares of rival Frontier Airlines, the report
related.
According to Simple Flying, the court's approval of Spirit's "first
day" motions ensures the company can keep honoring tickets,
maintaining loyalty points, and paying staff and vendors during the
restructuring. Spirit said the decision marks an important
milestone, giving it the tools to stabilize and eventually
transform its passenger experience.
CEO Dave Davis emphasized that while flight operations remain
unchanged, the carrier will reduce its fleet and maintenance
obligations as part of its restructuring plan. Spirit previously
exited bankruptcy in March after a debt-for-equity swap, but its
second filing raises new questions about the long-term viability of
the ultra-low-cost model, the report states.
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.
2nd Attempt
Spirit Airlines and its affiliates sought Chapter 11 protection
(Bankr. S.D.N.Y. Case No. 25-11896) on August 29, 2025. In its
petition, the Debtors reports estimated assets and liabilities
between $1 billion and $10 billion each.
Honorable Bankruptcy Judge Sean H. Lane handles the case.
The Debtor is represented by Marshall Scott Huebner, Esq. and
Darren S. Klein, Esq. at Davis Polk & Wardwell LLP.
STOLI GROUP: Court Extends Cash Collateral Access to Sept. 13
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
approved the ninth stipulation allowing Stoli Group (USA), LLC and
Kentucky Owl, LLC to continue to use the cash collateral of Fifth
Third Bank, National Association.
The stipulation extended the Debtors' authority to use the lender's
cash collateral to September 13 to pay the expenses set forth in
their latest budget.
The Debtors are required to pay the lender $250,000 for its
professional fees and expenses.
All terms of the final cash collateral order and the first through
eighth stipulations and agreed orders remain unchanged except as
modified by the ninth stipulation.
As of the petition date, the Debtors' aggregate principal
outstanding funded debt obligations total approximately
$78,374,334.30.
Fifth Third Bank holds valid, senior, perfected, and enforceable
liens on the collateral, including cash proceeds and other cash
equivalents, which constitute the lender's cash collateral.
A copy of the court's order and the budget is available at
https://shorturl.at/EkFbW from PacerMonitor.com.
About Stoli Group (USA) LLC
Stoli Group (USA), LLC is a producer, manager, and distributor of a
global portfolio of spirits and wines.
Stoli Group (USA) and Kentucky Owl, LLC filed Chapter 11 petitions
(Bankr. N.D. Texas Lead Case No. 24-80146) on November 27, 2024. At
the time of the filing, Stoli Group (USA) reported $100 million to
$500 million in assets and $10 million to $50 million in
liabilities while Kentucky Owl reported $50 million to $100 million
in assets and $50,000,001 to $100 million in liabilities.
Judge Scott W. Everett handles the cases.
Holland N. O'Neil, Esq., at Foley & Lardner, LLP is the Debtor's
legal counsel.
Fifth Third Bank, N.A., as lender, is represented by:
Brent McIlwain, Esq.
Christopher A. Bailey, Esq.
Holland & Knight, LLP
1722 Routh Street, Suite 1500
Dallas, TX 75201
Telephone: 214.969.1700
Email: brent.mcilwain@hklaw.com
chris.bailey@hklaw.com
-- and --
Jeremy M. Downs, Esq.
Steven J. Wickman, Esq.
Goldberg Kohn, Ltd.
55 East Monroe Street, Suite 3300
Chicago, IL 60603
Telephone: 312.201.4000
Email: jeremy.downs@goldbergkohn.com
steven.wickman@goldbergkohn.com
SUPPLY LINE: Enters Receivership with Over $23MM of Unpaid Loan
---------------------------------------------------------------
Kurt Nagl of Crain's Detroit Business reports that a distributor
with ties to both the health care and automotive industries has
landed in financial distress. Supply Line International Medical
LLC, based in Novi and co-founded by a local entrepreneur, has
entered receivership after being sued by three banks claiming a
combined $23 million in unpaid loans.
JPMorgan Chase, Oxford Bank, and Comerica Bank filed lawsuits in
Oakland County Circuit Court, asserting that the distributor and
its related entities defaulted on their loan obligations, according
to the report. The court responded by placing the companies under
receivership, giving a court-appointed fiduciary authority over
operations and assets.
According to Crain's Detroit Business, the lawsuits underscore the
mounting pressures facing mid-sized distributors balancing diverse
markets. Supply Line had positioned itself as a supplier of both
medical devices and automotive parts???industries with vastly
different demand cycles and regulatory requirements. Creditors are
now seeking to recover as much as possible, though it is unclear
whether the companies will pursue a restructuring path or be
dismantled through asset sales. The outcome may depend on whether
the receiver can stabilize operations while exploring options with
potential buyers or investors.
About Supply Line International Medical LLC
Supply Line International Medical, co-founded by a local
entrepreneur, had operated in both the health care and automotive
industries, supplying equipment and parts to a range of customers.
TALKING ROCK: Taps Integra Realty Resources as Valuation Expert
---------------------------------------------------------------
Talking Rock Land, LLC seeks approval from the U.S. Bankruptcy
Court for the District of Arizona to hire Integra Realty Resources
- Phoenix as its consulting valuation expert.
The firm will provide valuation services of certain real property
currently held in trust and comprised of a portion of the vacant
land surrounding 15075 N. Talking Rock Ranch Road, Prescott, AZ
86305.
IRRP requires a $10,000 advance retainer.
Additionally, IRRP would charge $500 per hour and require an
additional $5,000 retainer if William M. Dominick must prepare and
give testimony.
Mr. Dominick, managing director of IRRP, assured the court that her
firm is a "disinterested person" within the meaning of 11 U.S.C.
101(14).
The firm can be reached through:
William M. Dominick
Integra Realty Resources - Phoenix
5225 N Central Ave
Phoenix, AZ 85012
Phone: (602) 266-5599
About Talking Rock Land
Talking Rock Land, LLC develops and manages Talking Rock, a private
residential community in Prescott, Ariz. The development includes
luxury homes, a golf course, and club amenities.
Talking Rock Land filed Chapter 11 petition (Bankr. D. Ariz. Case
No. 25-03438) on April 18, 2025. In its petition, the Debtor
reported between $10 million and $50 million in assets and between
$1 million and $10 million in liabilities.
Judge Daniel P. Collins handles the case.
The Debtor is represented by Scott B. Cohen, Esq. at Engelman
Berger, P.C.
TELLICO RENTALS: Court Extends Cash Collateral Access to Sept. 30
-----------------------------------------------------------------
Tellico Rentals, LLC received another extension from the U.S.
Bankruptcy Court for the Eastern District of Tennessee to use cash
collateral.
The third interim order authorized the Debtor to use up to $73,200
in cash collateral through September 30 in accordance with its
budget, subject to a 20% variance by category.
The Debtor's cash collateral consists of rental income generated
from 40 rental units located in Tellico Plains, Tennessee. Mary
Jane Saunders, a secured creditor, asserts an interest in the
property.
As protection for the Debtor's use of her cash collateral, the
secured creditor will be granted a post-petition lien on the
existing collateral and collateral created after the petition
date.
To the extent the secured creditor is later determined to be
inadequately protected, she is entitled to seek administrative
priority afforded by Sections 507(a)(2) and 507(b) of the
Bankruptcy Code.
Meanwhile, the Debtor was ordered to escrow $3,700 each month for
2025 real property taxes into the trust account of Tarpy, Cox,
Fleishman & Leveille, PLLC plus $1,075 monthly interest and
penalties for past due 2023 and 2024 taxes.
A final hearing is set for September 11. Objections are due by
September 9.
About Tellico Rentals LLC
Tellico Rentals, LLC sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Tenn. Case No. 25-31173) on June 19,
2025, listing up to $10 million in both assets and liabilities.
Mohit Mankad, Tellico manager, signed the petition.
Judge Suzanne H. Bauknight oversees the case.
Edward J. Shultz, Esq., at Tarpy, Cox, Fleishman & Leveille, PLLC
represents the Debtor as legal counsel.
TENNESSEE CREDIT: Hires Geno and Steiskal as Bankruptcy Counsel
---------------------------------------------------------------
Tennessee Credit Management, Inc. seeks approval from the U.S.
Bankruptcy Court for the Northern District of Mississippi to hire
Law Offices of Geno and Steiskal, PLLC as counsel.
The firm will render these services:
(a) advise and consult with the Debtor regarding questions
arising from certain contract negotiations which will occur during
the operation of business;
(b) evaluate and attack claims of various creditors who may
assert security interests in the assets and who may seek to disturb
the continued operation of the business;
(c) appear in, prosecute, or defend suits and proceedings, and
take all necessary and proper steps and other matters and things
involved in or connected with the affairs of the estate of the
Debtor;
(d) represent the Debtor in court hearings and assist in the
preparation of contracts, reports, accounts, petitions,
applications, orders and other papers and documents as may be
necessary in this proceeding;
(e) advise and consult with the Debtor in connection with any
reorganization plan which may be proposed in this proceeding and
any matters concerning it which arise out of or follow the
acceptance or consummation of such reorganization or its rejection;
and
(f) perform such other legal services on behalf of the Debtor
as they become necessary in this proceeding.
The firm will be paid at these hourly rates:
Craig Geno, Attorney $500
Christopher Steiskal, Attorney $325
Associates $275
Paralegals $250
In addition, the firm will seek reimbursement for expenses
incurred.
The firm received a retainer of $12,000 from the Debtor, inclusive
of $1,738 filing fee.
Mr. Geno 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:
Craig M. Geno, Esq.
Christopher Steiskal, Esq.
Law Offices of Craig M. Geno, PLLC
601 Renaissance Way, Suite A
Ridgerland, MS 39157
Telephone: (601) 427-0048
Facsimile: (601) 427-0050
Email: cmgeno@cmgenolaw.com
Email: csteikal@cmgenolaw.com
About Tennessee Credit Management
Tennessee Credit Management, Inc. filed a petition under Chapter
11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Miss. Case No.
25-12603) on August 14, 2025, with $500,001 to $1 million in assets
and liabilities.
Judge Selene D. Maddox presides over the case.
Christopher J. Steiskal, Sr., Esq. represents the Debtor as legal
counsel.
TERRA DOLCI: Claims to be Paid from Disposable Income
-----------------------------------------------------
Terra Dolci, LLC filed with the U.S. Bankruptcy Court for the
Southern District of Florida a Plan of Reorganization dated August
29, 2025.
The Debtor is a Florida limited liability company that operates
Chef Adrianne's Vineyard Restaurant & Barr located in The Palms at
Town & Country Lifestyle Shopping Center, at 11715 Sherry Lane,
Miami, FL 33183 (the "Restaurant").
Prior to the COVID pandemic, the Debtor enjoyed a reputation as a
well-established restaurant and a steady stream of business.
However, the Restaurant, like so many other restaurants and
businesses in the hospitality industry, suffered tremendously as
business came to an abrupt halt during the COVID pandemic.
To sustain operations, the Debtor obtained financing from merchant
credit advance companies, whose collection practices have rendered
the Debtor without use of its cash flow for operations. As a
result, the Debtor has been unable to pay its obligations in the
ordinary course of business. With the imposition of the automatic
stay and a little breathing room, the Debtor hopes to address all
of its claims in the Chapter 11 claims process and propose a
payment plan to deal with its creditors.
This Plan proposes to pay Allowed Claims no less than the value of
Terra's Projected Net Disposable Income for a period of 60 months.
The Plan provides for 4 Classes of creditor claims (including
priority, secured, and unsecured) and one Class of Equity
interests.
Class 3 consists of Allowed General Unsecured Claims. Only
unsecured creditors with Allowed Priority Claims will receive a
distribution under the Plan unless the Debtor recovers from
Retained Causes of Action. In the event that the Debtor or
Reorganized Debtor achieve a recovery from Retained Causes of
Action, the Reorganized Debtor will earmark said recoveries for
Class 3, after payment in full of fees and costs associated with
said recoveries. The Reorganized Debtor will have insufficient
revenue to make a distribution to Class 3. Class 3 is Impaired and
entitled to vote.
Class 4 consists of Equity Interests of Adrianne Calvo. On the
Effective Date, the Equity Interests will be retained in the same
amounts and character as they were held prior to the Petition.
Class 4 is deemed to accept and not entitled to vote.
The Plan proposes to pay Allowed Claims to be paid under the Plan
from Projected Net Disposable Income and any net recoveries from
Retained Causes of Action.
The term "Debtor's Projected Net Disposable Income" has the meaning
ascribed to the term under Section 1191(d) of the Bankruptcy Code.
The Debtor has committed more than 100% of its Projected Net
Disposable Income for a period of 60 months.
A full-text copy of the Plan of Reorganization dated August 29,
2025 is available at https://urlcurt.com/u?l=oRYYRM from
PacerMonitor.com at no charge.
Counsel to the Debtor:
Jacqueline Calderin, Esq.
Agentis PLLC
45 Almeria Avenue
Coral Gables, FL 33134
Tel: (305) 722-2002
About Terra Dolci LLC
Terra Dolci LLC, operating as Chef Adrianne's Vineyard Restaurant
and Bar in Miami, offers Napa Valley-inspired fine dining with a
focus on bold flavors. The menu features family-style beef short
ribs slow-braised for 24 hours, a signature French onion soup rich
with caramelized onions and melted cheese, indulgent white and dark
chocolate bread puddings, and oversized cinnamon rolls. It is
managed by chef and restaurateur Adrianne Calvo.
Terra Dolci LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-16293) on June 2,
2025. In its petition, the Debtor reports estimated assets up to
$50,000 and estimated liabilities between $1 million and $10
million.
Bankruptcy Judge Laurel M. Isicoff handles the case.
The Debtors are represented by Robert Charbonneau, Esq. at AGENTIS
PLLC.
THOMPSON'S PHARMACY: Gets OK to Use Cash Collateral Until Sept. 22
------------------------------------------------------------------
Thompson's Pharmacy, Inc. got the green light from the U.S.
Bankruptcy Court for the Northern District of Georgia, Newnan
Division, to use cash collateral.
The court authorized the Debtor's interim use of cash collateral
through September 22 to fund the payment of U.S. trustee fees; pay
the expenses set forth in the Debtor's budget, subject to a 10%
variance; fund the payments to McKesson Corporation as adequate
protection; and for other matters pursuant to orders entered by the
court.
As adequate protection, McKesson will be granted a security
interest in and lien on all of the Debtor's post-petition accounts
and inventory and cash collateral generated from those assets, with
the same validity, priority and extent as McKesson's pre-petition
security interests and lien.
A final hearing is set for September 22.
The Debtor's business is a fully operational retail pharmacy
generating approximately $200,000 in monthly revenue and relies on
access to its cash collateral to pay ordinary and necessary
operating expenses. Without the ability to use cash collateral, the
Debtor will be unable to maintain business operations or
effectively reorganize.
McKesson is the Debtor's primary supplier and holds a perfected
first-priority security interest in the Debtor's inventory,
accounts, and proceeds, under a financing agreement dated April 1,
2020. McKesson's interest is properly perfected via UCC filings.
White Oak Pharmacy, Inc. holds a promissory note executed by the
Debtor on April 1, 2021, in the original amount of $1,744,828,
secured by inventory and receivables. This security interest is
also perfected. However, the Debtor believes that the value of its
cash collateral does not exceed the amount owed to McKesson and
contends that White Oak holds no enforceable interest in that
collateral.
The Debtor has several other creditors, including FinWise Bank
(doing business as Mulligan Funding, Libertas Funding, LLC, and
Spartan Business Solutions, LLC. Each of these entities claims an
interest in the Debtor's accounts receivable or future receivables
through merchant cash advance or loan agreements. However, the
Debtor believes that none of these entities has filed the necessary
UCC financing statements to perfect security interests, and
therefore, does not hold any enforceable rights in the Debtor's
cash collateral. Moreover, these agreements are in substance loans,
not true sales of receivables, and that their terms are usurious
and unenforceable under Georgia law. Even if these entities were to
establish perfected security interests, there is no equity
available to support their claims due to the senior secured claims
of McKesson and White Oak, according to the Debtor.
About Thompson's Pharmacy Inc.
Thompson's Pharmacy, Inc. sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-11312) on
September 2, 2025, listing up to $500,000 in assets and up to $1
million in liabilities. John B. Thompson, III, president of
Thompson's Pharmacy, signed the petition.
J. Nevin Smith, Esq., at Smith Conerly, LLP, represents the Debtor
as legal counsel.
McKesson Corporation, as secured creditor, is represented by:
Jeffrey K. Garfinkle, Esq.
Buchalter, A Professional Corporation
18400 Von Karman Avenue, Suite 800
Irvine, CA 92612
Telephone: (949) 760-1121
jgarfinkle@buchalter.com
-- and --
Brian Goldberg, Esq.
3475 Piedmont Road NE, Suite 1100
Atlanta, GA 30305
(404) 832-7667
bgoldberg@buchalter.com
TIBERTI COMPANY: Jeanette McPherson Named Subchapter V Trustee
--------------------------------------------------------------
The U.S. Trustee for Region 17 appointed Jeanette McPherson, Esq.,
at Fox Rothschild, LLP, as Subchapter V trustee for The Tiberti
Company, LLC.
Ms. McPherson will be paid an hourly fee of $625 for her services
as Subchapter V trustee and will be reimbursed for work-related
expenses incurred.
Ms. McPherson declared that she is a disinterested person according
to Section 101(14) of the Bankruptcy Code.
The Subchapter V trustee can be reached at:
Jeanette McPherson, Esq.
Fox Rothschild, LLP
1980 Festival Plaza Drive, Suite 700
Las Vegas, NV 89135
Phone: (702) 699-5923
Email: TrusteeJMcPherson@FoxRothschild.com
About The Tiberti Company LLC
The Tiberti Company LLC, doing business as Tiberti Fence Company,
offers fencing products and installation services across Nevada,
serving residential, commercial, and industrial customers. Based in
Las Vegas and holding an AB Unlimited License as a full-phase
general contractor, the Company specializes in ornamental iron,
chain link fencing, and custom-built iron. Tiberti Fence Company
operates as part of the wider Tiberti organization, which has a
history in construction projects including hotels, gaming
facilities, schools, reservoirs, museums, and civic buildings.
The Tiberti Company sought relief under Subchapter V of Chapter 11
of the U.S. Bankruptcy Code (Bankr. D. Nev. Case No. 25-15112) on
August 29, 2025. In its petition, the Debtor reports estimated
assets and liabilities between $1 million and $10 million each.
Honorable Bankruptcy Judge Natalie M. Cox handles the case.
The Debtor is represented by Matthew C. Zirzow, Esq., at Larson &
Zirzow, LLC.
TILSON TECHNOLOGY: Offloads Construction Business in $22MM Deal
---------------------------------------------------------------
Masha Abarinova of Fierce Network reports that telecom construction
company Tilson has agreed to sell substantially all of its assets
to ITG Communications in a $22 million cash deal, just months after
filing for Chapter 11 bankruptcy.
Tilson disclosed the transaction Friday, August 29, 2025, evening,
noting that it still requires court approval and is expected to
close later this September 2025, according to the report. The sale
raises questions about Tilson's future structure, as it is not yet
clear whether the company will continue as a separate subsidiary
under ITG or be fully absorbed into its operations. Despite the
sale, a Tilson spokesperson said the firm remains committed to
construction and related services, including consulting and
engineering.
Tilson's bankruptcy filing in May 2025 followed financial strain
caused by the abrupt cancellation of fiber network contracts in
Arizona and Nevada by one of its largest clients, Gigapower. The
company later sued Gigapower???an AT&T and BlackRock joint
venture???alleging it owes Tilson and its employees more than $200
million in payments, according to Fierce Telecom.
Tilson CEO Darrell Ingram called the proposed deal with ITG a "key
step" toward emerging from bankruptcy, saying it would strengthen
Tilson's financial foundation and enable long-term growth. The
announcement came just a day after Gigapower said it had completed
new broadband network builds across six states, the report states.
About Tilson Technology Management Inc.
Tilson Technology Management Inc. is a telecommunications
infrastructure construction and technology management firm based in
Portland, Maine, specializes in building and managing
telecommunications infrastructure projects across the United
States. The company works with various construction, technology,
and service providers to deploy telecommunications networks.
Tilson Technology Management Inc. sought relief under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-10949) on May
29, 2025. In its petition, the Debtor reports estimated assets and
liabilities between $100 million and $500 million each.
The Debtor is represented by Evan T. Miller, Esq. at Saul Ewing
LLP.
TOPS HOLDING: Trustee, Morgan Stanley & HSBC Agree to Settle
------------------------------------------------------------
Alan D. Halperin, the litigation trustee for the Tops Holding
Litigation Trust, has reached a settlement with former equity
owners Morgan Stanley and HSBC in a multi-year lawsuit over a
series of dividends that left the Tops Markets supermarket chain
insolvent and with hundreds of millions of dollars in liabilities
from underfunded pension plans.
A Morgan Stanley-led group of private equity investors bought Tops
in 2007 and later sold it to a group of Tops executives in 2013.
Tops filed for Chapter 11 in 2018, and two years later, the
litigation trustee for Tops filed a lawsuit in the U.S. Bankruptcy
Court for the Southern District of New York alleging that the
investor group had taken out more than $375 million in illegal
dividends, running up over $425 million in debt and leaving the
company with over $500 million in liabilities from underfunded
pension plans. Morgan Stanley and other investors filed a motion to
dismiss, which was denied in 2022.
The settling defendants are Morgan Stanley Investment Management,
Inc., Morgan Stanley Capital Partners V U.S. Holdco LLC, Gary
Matthews, Eric Kanter, and Eric Fry, and Defendants HSBC Equity
Partners USA, L.P. and HSBC Private Equity Partners II USA LP.
In a letter dated Sept. 5, counsel for the Trustee advised the
Honorable David S. Jones that a settlement in principle has been
reached that "once documented and executed, will resolve all claims
between them and bring the above-referenced litigation to
conclusion."
"In light of the foregoing, the Settling Parties respectfully
request that the Court hold in abeyance, and not issue any
decisions concerning, the parties' pending summary judgment
motions. On or before October 6, 2025, the parties will provide an
update to the Court on the status and expected timeline of the
parties' settlement," according to Kyle A. Lonergan, Esq., at
McKool Smith, P.C., in New York, counsel for the Trustee.
Attorneys for Plaintiff Trustee:
Kyle A. Lonergan, Esq.
McKOOL SMITH, P.C.
1301 Avenue of the Americas, 32nd Floor
New York, NY 10019
Tel: 212-402-9425
Email: klonergan@mckoolsmith.com
Attorneys for Defendants Morgan Stanley Investment Management,
Inc., Morgan Stanley Capital Partners V U.S. Holdco LLC, Gary
Matthews, Eric Kanter, and Eric Fry:
Pamela Miller, Esq.
O'MELVENY & MYERS LLP
1301 Avenue of the Americas, Suite 1700
New York, NY 10019
Tel: (212) 261-6827
Email: pmiller@omm.com
Attorneys for Defendants HSBC Equity Partners USA, L.P. and HSBC
Private Equity Partners II USA LP:
Louis Smith, Esq.
GREENBERG TRAURIG LLP
500 Campus Drive, Suite 400
Florham Park, NJ 07932
Tel: (973) 360-7900
Email: SmithLo@gtlaw.com
About Tops Holding II Corporation
Tops Markets, LLC -- http://www.topsmarkets.com/-- is
headquartered in Williamsville, NY and operates 169 full-service
supermarkets with five additional by franchisees under the Tops
Markets banner. It employs over 14,000 associates and is a
full-service grocery retailer in Upstate New York, Northern
Pennsylvania, and Vermont.
Tops Management, led by Frank Curci, its chairman and chief
executive officer, acquired Tops Markets in December 2013 through a
leveraged buyout from Morgan Stanley's private equity arm. Morgan
Stanley bought the company in 2007 from the Dutch retailer now
known as Koninklijke Ahold Delhaize NV. In 2010, Tops Markets
acquired The Penn Traffic Company, a local chain with 64 stores. In
2012, it purchased 21 Grand Union Family Markets stores.
Tops Holding II Corporation and its subsidiaries, including Tops
Markets, LLC, sought Chapter 11 protection (Bankr. S.D.N.Y. Lead
Case No. 18-22279) on Feb. 21, 2018, to pursue a financial
restructuring that would eliminate a substantial portion of debt
from their balance sheet. Tops Holding II listed total assets of
$977 million and total liabilities at $1.17 billion as of Dec. 30,
2017.
The Debtors hired Weil, Gotshal & Manges LLP as their legal
counsel; Hilco Real Estate, LLC as real estate advisor; Evercore
Group L.L.C. as investment banker; FTI Consulting, Inc., and
Michael Buenzow as chief restructuring officer; and Epiq Bankruptcy
Solutions, LLC, as their claims and noticing agent.
The U.S. Trustee for Region 2 appointed an official committee of
unsecured creditors on March 6, 2018. The committee tapped
Morrison & Foerster LLP as its legal counsel, and Zolfo Cooper,
LLC, as its financial advisor and bankruptcy consultant.
On Nov. 9, 2018, the court confirmed the Debtors' joint Chapter 11
plan of reorganization.
A litigation trust was established pursuant to the plan and the
litigation trust agreement dated Nov. 19, 2018, by and between the
Debtors and Alan D. Halperin, in his capacity as litigation
trustee. The litigation trustee is represented by Halperin
Battaglia Benzija, LLP.
TWS SERVICE: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: TWS Service Corporation
TWS Service, LLC
TWS Service Corporation, LLC
3600 W. Marshall Ave
Longview TX 75604
Business Description: TWS Service Corporation provides general
freight trucking services across the
United States.
Chapter 11 Petition Date: September 7, 2025
Court: United States Bankruptcy Court
Northern District of Texas
Case No.: 25-43394
Judge: Hon. Edward L Morris
Debtor's Counsel: Richard Grant, Esq.
CM LAW PLLC
13101 Preston Road, Suite 110-1510
Dallas TX 75240
Tel: 214-210-2929
E-mail: rgrant@cm.law
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Michael Pearson as president.
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/DLJRFKA/TWS_Service_Corporation__txnbke-25-43394__0001.0.pdf?mcid=tGE4TAMA
VENUS CONCEPT: Gets Additional $2M in 11th Madryn Bridge Drawdown
-----------------------------------------------------------------
As previously disclosed, on April 23, 2024, Venus Concept Inc.,
Venus Concept USA, Inc., a wholly-owned subsidiary of the Company,
Venus Concept Canada Corp., a wholly-owned Canadian subsidiary of
the Company, and Venus Concept Ltd., a wholly-owned Israeli
subsidiary of the Company, entered into a Loan and Security
Agreement, with Madryn Health Partners, LP and Madryn Health
Partners (Cayman Master), LP and Madryn, as administrative agent.
Pursuant to the Loan and Security Agreement (as amended), the
Lenders agreed to provide the Borrower with bridge financing in the
form of a term loan in one or more draws in an aggregate principal
amount of up to $5,000,000 which amount was subsequently increased
to $23,237,906.85. Borrowings under the Bridge Financing will bear
interest at a rate per annum equal to 12%.
On the maturity date of the Bridge Financing, the Loan Parties are
obligated to make a payment equal to all unpaid principal and
accrued interest. The Loan and Security Agreement also provides
that all present and future indebtedness and the obligations of the
Borrower to Madryn shall be secured by a priority security interest
in all real and personal property collateral of the Loan Parties.
* The initial drawdown under the Loan and Security Agreement
occurred on April 23, 2024, when the Lenders agreed to provide the
Borrower with bridge financing in the form of a term loan in the
principal amount of $2,237,906.85.
* The second drawdown under the Loan and Security Agreement
occurred on July 26, 2024, when the Lenders agreed to provide the
Borrower with a subsequent drawdown under the Loan and Security
Agreement in the principal amount of $1,000,000.
* The third drawdown under the Loan and Security Agreement
occurred on September 11, 2024, when the Lenders agreed to provide
the Borrower with a subsequent drawdown under the Loan and Security
Agreement in the principal amount of $1,000,000.
* The fourth drawdown under the Loan and Security Agreement
occurred on November 1, 2024, when the Lenders agreed to provide
the Borrower with a subsequent drawdown under the Loan and Security
Agreement in the principal amount of $1,000,000.
* The fifth drawdown under the Loan and Security Agreement
occurred on November 26, 2024, when the Lenders agreed to provide
the Borrower with a subsequent drawdown under the Loan and Security
Agreement in the principal amount of $1,200,000.
* The sixth drawdown under the Loan and Security Agreement
occurred on December 9, 2024, when the Lenders agreed to provide
the Borrower with a subsequent drawdown under the Loan and Security
Agreement in the principal amount of $1,500,000.
* The seventh drawdown under the Loan and Security Agreement
occurred on January 27, 2025, when the Lenders agreed to provide
the Borrower with a subsequent drawdown under the Loan and Security
Agreement in the principal amount of $3,000,000.
* The eighth drawdown under the Loan and Security Agreement
occurred on February 21, 2025, when the Lenders agreed to provide
the Borrower with a subsequent drawdown under the Loan and Security
Agreement in the principal amount of $2,300,000.
* The ninth drawdown under the Loan and Security Agreement
occurred on April 4, 2025, when the Lenders agreed to provide the
Borrower with a subsequent drawdown under the Loan and Security
Agreement in the principal amount of $2,000,000.
* The tenth drawdown under the Loan and Security Agreement
occurred on May 22, 2025, when the Lenders agreed to provide the
Borrower with a subsequent drawdown under the Loan and Security
Agreement in the principal amount of $2,000,000.
* The eleventh drawdown under the Loan and Security Agreement
occurred on July 21, 2025, when the Lenders agreed to provide the
Borrower with a subsequent drawdown under the Loan and Security
Agreement in the principal amount of $2,000,000.
On August 21, 2025, the Lenders agreed to provide the Borrower with
a subsequent drawdown under the Loan and Security Agreement in the
principal amount of $2,000,000.
The Eleventh Delayed Drawdown was funded on August 21, 2025.
The Company expects to use the proceeds of the Eleventh Delayed
Drawdown, after payment of transaction expenses, for general
working capital purposes.
About Venus Concept
Toronto, Ontario-based Venus Concept Inc. is an innovative global
medical technology company that develops, commercializes, and
delivers minimally invasive and non-invasive medical aesthetic and
hair restoration technologies and related services. The Company's
systems have been designed on cost-effective, proprietary, and
flexible platforms that enable the Company to expand beyond the
aesthetic industry's traditional markets of dermatology and plastic
surgery, and into non-traditional markets, including family
medicine and general practitioners and aesthetic medical spas.
Mississauga, Canada-based MNP LLP, the Company's auditor since
2019, issued a "going concern" qualification in its report dated
March 31, 2025, attached to the Company's Annual Report on Form
10-K for the year ended December 31, 2024, citing that the Company
has reported recurring net losses and negative cash flows from
operations, which raises substantial doubt about its ability to
continue as a going concern.
As of Dec. 31, 2024, the Company had $68.18 million in total assets
against $65.35 million in total liabilities. As of June 30, 2025,
the Company had $63.09 million in total assets against $60.31
million in total liabilities.
VICTORIA'S KITCHEN: Seeks to Tap Sadek Law Offices LLC as Attorney
------------------------------------------------------------------
Victoria's Kitchen, LLC seeks approval from the U.S. Bankruptcy
Court for the Eastern District of Pennsylvania to hire Sadek Law
Offices LLC as its attorney.
The firm will render these services:
a. advise the Debtor of its rights, powers, and duties as a
debtor-in-possession in continuing to operate and manage its
assets;
b. advise the Debtor concerning, and assisting in the
negotiation and documentation of the use of cash collateral and/or
debtor-in-possession financing, debt restructuring and related
transactions;
c. review the nature and validity of agreements relating to
the Debtor's business and advise the Debtor in connection
therewith;
d. review the nature and validity of liens, if any, asserted
against the Debtor and advise as to the enforceability of such
liens;
e. advise the Debtor concerning the actions it might take to
collect and recover property for the benefit of its estate;
f. prepare on the Debtor's behalf all necessary and
appropriate applications, motions, pleadings, orders, notices,
petitions, schedules, and other documents, and review all financial
and other reports to be filed in the Debtor's Chapter 11 case;
g. advise the Debtor concerning, and preparing responses to,
applications, motions, pleadings, notices and other papers which
may be filed in the Debtor's Chapter 11 case;
h. counsel the Debtor in connection with formulation,
negotiation and promulgation of a plan of reorganization and
related documents; and
i. perform all other legal services for and on behalf of the
Debtor which may be necessary or appropriate in the administration
of its Chapter 11 case.
The firm will be paid at these rates:
Brad J. Sadek (Attorney) $475 per hour
Michael I. Assad (Attorney) $475 per hour
Jennifer Phillips (Paralegal) $250 per hour
Rebecca Shatzoff (Paralegal) $250 per hour
The firm received a retainer in the amount of $20,000.
As disclosed in the court filing, Sadek Law Offices is a
"disinterested person" as contemplated by 11 U.S.C. Sec. 101(14).
The firm can be reached through:
Michael I. Assad, Esq.
Sadek Law Offices LLC
1315 Walnut St Ste 1119
Philadelphia, PA 19107
Tel: (215) 545-1055
About Victoria's Kitchen LLC
Victoria's Kitchen LLC operates as a food service business offering
southern-style comfort and soul food dishes, including seafood,
lamb, soups, pasta, salads, and desserts. The Company provides
takeout, delivery, and catering services in the Philadelphia,
Pennsylvania, and Sicklerville, New Jersey areas, and also runs a
food truck service.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Pa. Case No. 25-13380) on August 26,
2025. In the petition signed by Victoria A. Turner Tyson, managing
member, the Debtor disclosed up to $500,000 in assets and up to $10
million in liabilities.
Judge Derek J. Baker oversees the case.
Michael Assad, Esq., at Sadek Law Offices, represents the Debtor as
bankruptcy counsel.
VILLAGES HEALTH: Bidding Process Ends Sept. 2, Auction on Sept. 7
-----------------------------------------------------------------
Christie Zizo of News 6 reports that The Villages Health System
(TVH) is approaching a major turning point in its bankruptcy
proceedings, with bids for the company due by 4 p.m. on Tuesday,
September 2, 2025.
The Florida-based health care provider, which sought Chapter 11
protection in July 2025 after admitting to issues with Medicare
billing practices, is seeking a buyer to stabilize operations and
resolve its mounting debts, according to the report.
According to News 6, CenterWell, a subsidiary of Humana, has
entered a stalking horse bid valued at $50 million in cash. The
proposed deal also includes covering court-approved costs tied to
potential defaults or losses. If rival offers are received, an
auction will take place on September 7, 2025, followed by a court
hearing on September 9, 2025 to approve the final sale.
TVH's bankruptcy filings show assets between $50 million and $100
million, with liabilities ranging from $100 million to $500
million. Its largest creditor is the federal government, owed more
than $360 million. The winning bidder would take control of eight
primary care centers and two specialty facilities that together
serve roughly 55,000 patients in The Villages community. The case
has drawn objections from major insurers. Florida Blue claims TVH
inflated Medicare payments by adding false diagnostic codes,
leading to at least $25 million in overpayments, including $8
million in 2024 alone. United Healthcare has also challenged the
sale plan, alleging TVH funneled $183 million to its controlling
Morse family between 2022 and 2024, while keeping financial details
from its creditors and business partners, the report states.
Amid these disputes, TVH continues to assure patients and staff
that operations remain stable. The bankruptcy court approved
additional financing in August 2025 to keep facilities open and
payrolls funded during the transition. Whether CenterWell's offer
holds or a rival bidder emerges, the next steps will determine the
future of a health system serving tens of thousands of residents in
one of Florida's largest retirement communities.
About The Villages Health ("TVH")
The Villages Health (TVH) is a leading healthcare provider in North
Central Florida, offering comprehensive primary and specialty care
through a collaborative, team-based approach. In addition to
primary care, TVH delivers specialized services in audiology,
behavioral and mental health, cardiology, dietetics, endocrinology,
gastroenterology, gynecology, interventional pain management,
neurology, podiatry, rheumatology, and urology. To learn more,
visit thevillageshealth.com.
The Village Health sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-04156) on July 3,
2025. In its petition, the Debtor reports estimated assets between
$50 million and $100 million and estimated liabilities between $100
million and $500 million.
Honorable Bankruptcy Judge Lori V. Vaughan handles the case.
The Debtor is represented by Elizabeth A. Green at Baker &
Hostetler LLP.
About CenterWell
CenterWell is a leading healthcare services organization dedicated
to delivering integrated, patient-centered care experiences. By
placing patients at the heart of everything it does, CenterWell
provides high-quality, accessible, and personalized care. As the
nation's largest provider of senior-focused primary care and a top
provider of home health services, CenterWell also offers
comprehensive pharmacy solutions????????including home delivery,
specialty, hospice, and retail pharmacy services. Focused on
whole-person health, CenterWell addresses the physical, emotional,
and social well-being of its patients. CenterWell is a part of
Humana Inc. (NYSE: HUM). Learn more at CenterWell.com
VILLAGES HEALTH: U.S. Trustee Appoints Creditors' Committee
-----------------------------------------------------------
Guy Van Baalen, Acting U.S. Trustee for Region 21, appointed an
official committee to represent unsecured creditors in the Chapter
11 case of The Villages Health System, LLC.
The committee members are:
1. Alliant Dermatology, PA
c/o Edward Fitzgerald, Esq.
Holland & Knight LLP
200 South Orange Avenue, Suite 2600
Orlando, FL 32801
Phone 407.244.5131 | Fax 407.244.5288
edward.fitzgerald@hklaw.com
2. DR. Jennifer Peters
c/o Joseph Pack, Esq.
Pack Law
51 Northeast 24th Street, Suite 108
Miami, FL 33137
Phone: 305-916-4500
joe@packlaw.com
3. Customize IT Right, LLC
c/o Joseph Pack, Esq.
Pack Law
51 Northeast 24th Street, Suite 108
Miami, FL 33137
Phone: 305-916-4500
joe@packlaw.com
Official creditors' committees serve as fiduciaries to the general
population of creditors they represent. They may investigate the
debtor's business and financial affairs. Committees have the right
to employ legal counsel, accountants and financial advisors at a
debtor's expense.
About The Villages Health System
The Villages Health System, LLC sought protection under Chapter 11
of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-04156) on
July 3, 2025. In the petition signed by Neil F. Luria, chief
restructuring officer, the Debtor disclosed listed between $50
million and $100 million in assets and between $100 million and
$500 million in liabilities.
Judge Lori V. Vaughan oversees the case.
Elizabeth A. Green, Esq., at Baker & Hostetler, LLP, represents the
Debtor as legal counsel.
VIRTUS INVESTMENT: Moody's Affirms 'Ba1' CFR, Outlook Stable
------------------------------------------------------------
Moody's Ratings has affirmed Virtus Investment Partners, Inc.'s
(Virtus) Ba1 corporate family rating and Ba1-PD probability of
default rating. Additionally, Moody's have assigned a Ba1 rating to
Virtus' newly issued $400 million senior secured first lien term
loan and $250 million senior secured first lien revolving credit
facility. The outlook remains stable.
Proceeds from the new term loan will be used to refinance Virtus'
existing term loan and enhance liquidity by adding cash to the
company's balance sheet. The new five-year revolving credit
facility reflects a $75 million increase in capacity compared to
the current facility.
RATINGS RATIONALE
The affirmation of Virtus' ratings reflects the modest impact of
the proposed transaction on the company's overall financial
profile. The new issuance will increase leverage from 1.2x to 1.8x
debt-to-EBITDA for the last tweleve months ended June 30, 2025, a
meaningful rise, but well below Moody's expectations for Ba-rated
asset managers. While the higher debt burden will result in
increased interest expense, coverage will remain strong, with
interest expense expected to be covered more than 10 times.
Additionally, the long-term capital provided by the transaction
could support Virtus' strategic objectives, particularly its M&A
strategy, where they have not completed a transaction in over two
years. With assets under management heavily concentrated in
equities, Virtus remains exposed to public market volatility. Its
exposure to alternative strategies is limited, comprising just 8%
of total AUM.
In an industry where consolidation is widely viewed as the most
efficient path to scale and diversification, the transaction
positions Virtus to re-engage in M&A. This could enable the firm to
broaden its product offerings, reduce concentration risk, and
strengthen its competitive position in a rapidly evolving
industry.
Virtus' Ba1 CFR reflects its modest financial leverage, recurring
revenue base, and the solid profitability of its multi-boutique
structure. These strengths are tempered by recent weakness in asset
resiliency and concentrated equity exposure which increase the
company's earnings sensitivity to broader financial market
movements. The stable outlook reflects the accelerating growth of
Virtus' active ETF platform and Moody's expectations that
management will maintain a balanced capital strategy as the company
continues to grow and diversify its business.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS
Virtus' ratings could be upgraded if the company demonstrates
improved asset resiliency in line with industry averages;
meaningfully expands its product offerings to include new
capabilities that diversify its revenue stream; or enhances its
geographic footprint to support a more diverse and global client
base.
Conversely, the ratings could be downgraded if Virtus significantly
increases the size of its seeding program; if Moody's adjusted
leverage rises above 3.0x; if there is a sustained decline in
assets under management; or if profitability, as measured by the
five-year average pre-tax income margin, falls into the low single
digits.
The principal methodology used in these ratings was Asset Managers
published in May 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.
VROOM INC: Kaelin Daye Case to Remain in Federal Court
------------------------------------------------------
Judge David C. Bramlette of the United States District Court for
the Southern District of Mississippi denied Plaintiff Kaelin Daye's
motion to remand the case captioned as KAELIN DAYE, PLAINTIFF v.
UNITED AUTO CREDIT CORPORATION, VROOM, INC., and JOHN DOE
DEFENDANT, DEFENDANTS, Case No. 5:24-CV-100-DCB-LGI (D. Miss.).
Plaintiff initially filed this case in the Circuit Court of Adams
County, Mississippi against United and a "John Doe" defendant. She
later amended her complaint and added Vroom as a defendant. As set
forth in the First Amended Complaint, Plaintiff entered a binding
contract with Vroom, a used vehicle e-commerce company, for the
purchase and finance of a vehicle. The total purchase price was
$52,120.35, and Plaintiff made a down payment of $12,920. After
Plaintiff took possession of the vehicle, a dispute developed over
her financing approval, which eventually resulted in repossession
of the vehicle. Among other things, Plaintiff alleges that
Defendants illegally colluded to repossess the vehicle and damage
her credit. In her amended complaint, she demands reimbursement for
her $12,920 down payment on the vehicle, and an unspecified amount
of actual and punitive damages, attorney fees, costs and interest.
Months after filing her Amended Complaint, Plaintiff e-mailed a
settlement demand letter of $500,000 to Defendants. Eight days
later, Defendants removed the case to this Court on the grounds of
diversity jurisdiction. Shortly thereafter, Defendants filed their
Motion to Compel Arbitration. Instead of responding to the
arbitration motion, Plaintiff moved to remand the case to state
court.
Proceedings in this case were temporarily stalled when Vroom
notified the Court of its Chapter 11 bankruptcy filing in the
United States Bankruptcy Court for the Southern District of Texas
and the rise of the automatic stay under section 362(a) of the
Bankruptcy Code. The parties have since updated the District Court
that proceedings in this matter can resume.
Plaintiff challenges the District Court's diversity jurisdiction in
this matter by first arguing that Defendants' removal of her case
to federal court was untimely.
In support, she claims:
(i) the removal occurred more than 112 days after Plaintiff
filed her First Amended Complaint;
(ii) the Amended Complaint reveals on its face that the amount in
controversy exceeds $75,000; and
(iii) the 30-day removal period under 28 U.S.C. Sec. 1446(b)(1)
was triggered.
Relying on 28 U.S.C. Sec. 1446(b)(3) and Fifth Circuit precedent,
Defendants counter that the removal was timely because:
(i) the original and amended complaints do not contain a
specific allegation that Plaintiff's damages exceed the $75,000
federal jurisdictional amount; and
(ii) the removal was filed within 30 days after their receipt of
Plaintiff's settlement demand in the amount of $500,000, which
constitutes "other paper" under Section 1446(b)(3).
Plaintiff argues that exact figures for her damages are not
required because it is apparent from the pleadings' context that
the amount in controversy exceeds $75,000, which made the case
removable.
In accordance with controlling Fifth Circuit precedent, the
District Court rejects Plaintiff's argument and finds that
Plaintiff's settlement demand in the amount of $500,000 constituted
"other paper" for the purposes of 28 U.S.C. Sec. 1446(b)(3).
The District Court finds none of Plaintiff's arguments for remand
to be valid. Given that the District Court will not order a remand
of the case to state court, Plaintiff's request for attorney fees
and costs under 28 U.S.C. Sec. 1447(c) is denied.
The Court has directed Plaintiff to respond to the pending Motion
to Compel Arbitration.
A copy of the Court's Memorandum Opinion and Order is available at
https://urlcurt.com/u?l=YUvRdl from PacerMonitor.com.
About Vroom Inc.
Vroom, Inc. (NASDAQ: VRM) is a parent company of United Auto Credit
Corporation and CarStory. Previously, it was a used car retailer
and e-commerce company that let consumers buy, sell, and finance
cars online. Vroom ceased e-commerce automotive sales operations in
January 2024.
Vroom Inc. sought relief under Chapter 11 of the Bankruptcy Code
(Bankr. S.D. Tex. Case No. 24-90571) on Nov. 13, 2024. In the
petition filed by CEO Thomas Shortt, the Debtor reported total
assets of $43,807,067 and total debt of $304,615,138 as of Sept.
30, 2024.
Bankruptcy Judge Christopher M. Lopez oversees the case.
Porter Hedges LLP, led by John F. Higgins, serves as the Debtor's
bankruptcy counsel. Latham Watkins LLP serves as the Debtor's
corporate, finance, tax, and securities counsel. Stout Risius Ross,
LLC, serves as the Debtor's financial advisor. Deloitte Touche
Tohmatsu Limited serves as the Debtor's tax consultant. The
Overture Group, LLC, serves as the Debtor's compensation
consultant. Verita Global is the Debtor's noticing and solicitation
agent.
VSM PROPERTIES: Hearing to Use Cash Collateral Set for Sept. 11
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Tennessee is
set to hold a hearing on September 11 to consider another extension
of VSM Properties, LLC's authority to use cash collateral.
The Debtor's authority to use cash collateral pursuant to the
court's third interim order expires on September 11.
The third interim order issued on September 2 authorized the Debtor
to use up to $2,850 in cash collateral for the period from August
29 to September 11 to pay operating expenses in accordance with its
budget, subject to a 20% variance by category.
As protection for the Debtor's use of their cash collateral,
secured creditors including Mary Jane Saunders and Grassland
Financial Services, LLC were granted a post-petition lien on their
existing collateral and collateral created after the petition
date.
The third interim order directed the Debtor to escrow $2,100 each
month for 2025 real property taxes into the trust account of Tarpy,
Cox, Fleishman & Leveille, PLLC, plus $610 for monthly interest for
past due 2023 and 2024 taxes.
About VSM Properties LLC
VSM Properties, LLC is a real estate management company based in
Tellico Plains, Tennessee. It owns commercial properties in the
area, including the riverside building at 1641 Cherohala Skyway.
VSM Properties sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Tenn. Case No. 25-31124) on June 12,
2025. In its petition, the Debtor reported estimated assets between
$500,000 and $1 million and estimated liabilities between $10
million and $50 million.
Honorable Bankruptcy Judge Suzanne H. Bauknight handles the case.
Edward J. Shultz, Esq., at Tarpy Cox Fleishman & Leveille, PLLC is
the Debtor's legal counsel.
Grassland Financial Services, LLC, as secured creditor, is
represented by:
David G. Mangum, Esq.
2303 8th Avenue South
Nashville, TN 37204
Phone: (615) 255-8690
Fax: (615) 255-2766
notice@davidmangum.com
WALS TRANSPORT: Unsecureds Will Get 3% of Claims over 5 Years
-------------------------------------------------------------
Wals Transport, LLC filed with the U.S. Bankruptcy Court for the
Middle District of Tennessee a Plan of Reorganization under
Subchapter V dated August 29, 2025.
The Debtor was formed in 2020. The business is a long-haul trucking
business. The business specializes in hauling mostly RVS, boats and
trailers. Charles Walser is the only member and the 100% owner.
The principal office and mailing address for the business is 5137
Harding Pike, Nashville TN 37205-2802. The Debtor has approximately
3 sub-contracting employees. The Debtor's owner also drives for the
business. Mr. Walser, the owner and managing member of the Debtor,
was attempting to purchase another truckling company to combine it
with the Debtor. This other company was Dad's Holdings LLC.
The sellers did not properly disclose and inappropriately absconded
funds during the purchase transaction that left Dad's basically
insolvent. The Debtor's owner has a pending Lawsuit with Dad's
sellers but the inappropriate money dealings from the sellers left
the Debtor behind on payments which led to the necessity of this
filing. The Debtor does not anticipate a recovery from that
litigation and this plan is not contingent on the success of that
pending litigation.
This Plan of Reorganization under Chapter 11 of the Code proposes
to pay the following creditor classes from cash flow from the
business operations and future income of the Debtor.
Non-priority unsecured creditors holding allowed claims will
receive pro rata distributions totaling $22,000.00 from the debtor.
This Plan also provides for the payment of administrative and
priority claims. Debtor estimates that non-priority unsecured
creditors will receive approximately a 3% disbursement.
Class 9 consists of All Allowed Unsecured Claims. This Plan
provides for the payment of administrative and priority claims and
the Debtor estimates that non-priority unsecured creditors will
receive approximately a 3% disbursement or at least $22,0000.00.
There shall be 5 annual payments of $4,400.00 (for total
disbursement of $22,000.00) to be paid on or before August 2030.
This Class is impaired.
The Debtor will retain all ownership rights in property of the
estate.
The Debtor anticipates that the operations of the trucking business
will provide sufficient cash flow to fund the Plan.
A full-text copy of the Plan of Reorganization dated August 29,
2025 is available at https://urlcurt.com/u?l=MjhmQ5 from
PacerMonitor.com at no charge.
Counsel to the Debtor:
Keith D. Slocum, Esq.
Slocum Law
370 Mallory Station Road Suite 504
Franklin TN, TN 37067
Tel: (615) 656-3344
Fax: (615) 647-0651
Email: keith@keithslocum.com
About Wals Transport
Wals Transport, LLC is a long-haul trucking business.
The Debtor filed a Chapter 11 bankruptcy petition (Bankr. M.D.
Tenn. Case No. 25-01256) on March 25, 2025, listing between
$100,001 and $500,000 in assets and between $500,001 and $1 million
in liabilities.
Judge Randal S. Mashburn oversees the case.
Keith D. Slocum, Esq., at Slocum Law, is the Debtor's bankruptcy
counsel.
WANDERLY LLC: Updates Unsecured Claims Pay Details
--------------------------------------------------
Wanderly, LLC submitted an Amended Disclosure Statement describing
Plan of Liquidation dated September 2, 2025.
On December 26, 2024 ("Petition Date"), Debtor filed a voluntary
petition under Chapter 11 Sub Chapter V of the United States
Bankruptcy Code.
During this case, many contested matters arose including (i) an
objection to the Subchapter V Election filed by MBP, (ii) a Motion
to Dismiss or for Stay Relief, also filed by MBP, (iii) a Notice of
Removal of the State Court Action to Bankruptcy Court filed by HWL
and an Objection thereto filed by, MBP, (iv) an Objection to the
Claim of MBP filed by the Debtor, (v) an Objection to the Claim of
HWL and Jackson Healthcare, HWL's parent company, filed by the
Debtor and (vi) an adversary case filed by the Debtor against HWL
for turnover of the funds it was holding pursuant to the Injunction
Order.
During the pendency of this case, the Debtor made business
decisions that it was the best interest of the estate to sell the
assets of the Debtor instead of attempting to reorganize.
Initially, the Debtor filed a Motion to Sell substantially all of
its assets to an entity known as StaffDNA (the "StaffDNA Contract")
for $2,000,000.00.
That deal fell through and the Debtor then negotiated a deal with
an entity known as OnPoint Analytics Capital Partners, LLC which
then assigned its contract rights to a special purpose entity
Wanderly AV, LLC. The purchase price was $2,100,000.00 (the "Sale
Proceeds"). This Court ultimately approved the sale.
Simultaneously, the Debtor, its principal, MBP, and the HWL
Defendants entered into a settlement agreement to settle the
various claims between them. Per the settlement agreement, the
funds to pay the agreed amount due to MBP was to come from three
pools of money: (i) the Registry Funds, (ii) the Escrowed Funds and
(iii) the Sales Proceeds. The remaining funds were earmarked for
the administrative claims, wind down expenses and the unsecured
creditors. The Settlement Agreement was approved by this Court on
August 4, 2025.
The funds used to pay the creditors, including the secured claim of
MBP, are coming from the (i) the Registry Funds, (ii) the Escrowed
Funds and (iii) $1,000,000.00 of the Sales Proceeds per the
Settlement Agreement. The $1,000,000.00 has been transmitted to
MBP. The remaining Sales Proceeds are held in the trust account of
Kelley, Kaplan & Eller.
The remaining claims shall be satisfied as follows:
* All administrative claims shall be paid from the Sales
Proceeds, subject to Applications for Compensation filed by the
administrative claimants and approved by this Court.
* Any outstanding fees due to the Office of the United States
Trustee shall also be paid from the Sales Proceeds.
* All Debtor wind down expenses shall be paid from the Sales
Proceeds, subject to Order of this Court.
* Subject to any objections sustained by the Court, all
Priority Unsecured Claims, if any, shall be paid in full as set
forth in each Creditor???s Proof of Claim, ("Allowed Priority
Claims").
* Finally, subject to any objections sustained by the Court,
all general unsecured creditors ("Allowed General Unsecured
Claims") shall receive a pro rata distribution after payment of all
other claims set forth above. The prorata distribution to the
General Unsecured Claims shall be determined any claims objections
that may be filed are resolved, the fees due to the U.S. Trustee
and administrative claims are determined, the wind down expenses
are finalized and it is determined whether, if any priority
unsecured claims need to be paid.
Class One consists of the Claim of MyBasePay. MyBasePay filed Proof
of Claim Nos. 11 and 12 in the Bankruptcy Case, under which
MyBasePay alleges inter alia claims against the Debtor totaling in
excess of $6,700,000.00. The Debtor objected to the amount of this
claim as it maintained less is owed to MyBasePay. The Debtor and
MBP entered into a settlement agreement whereby the Debtor agreed
to pay MBP the amount of $3,252,864.00 (the "Settlement Amount").
$1,000.000.00 of the Settlement amount was already paid to MBP from
the Sales Proceeds. The remaining amount shall be paid from the
Registry Funds and the Escrowed Funds.
Class Two consists of General Unsecured Creditors. The General
Unsecured claims include all other allowed claims of Unsecured
Creditors of the Debtor, subject to any Objections that are filed
and sustained by the Court. The general unsecured claims prior to
the filing of any objections total the amount of $2,578,809.70.
These claims shall be paid a lump sum distribution on a prorata
basis on the Effective Date after payment of administrative
expenses and wind down expenses. These claims are impaired.
The Debtor has been liquidated and there shall be no continuing
operations after the sale.
A full-text copy of the Amended Disclosure Statement dated
September 2, 2025 is available at https://urlcurt.com/u?l=O9JBo6
from PacerMonitor.com at no charge.
Counsel to the Debtor:
Craig I. Kelley, Esq.
Kelley Kaplan & Eller, PLLC
1665 Palm Beach Lakes Blvd., Suite 1000
West Palm Beach, FL 33401
Telephone: (561) 491-1200
Facsimile: (561) 684-3773
Email: bankruptcy@kelleylawoffice.com
About Wanderly LLC
Wanderly, LLC is a technology marketplace platform created for
traveling healthcare professionals and healthcare staffing
companies.
Wanderly filed Chapter 11 petition (Bankr. S.D. Fla. Case No.
24-23477) on Dec. 26, 2024, listing between $100,000 and $500,000
in assets and between $1 million and $10 million in liabilities.
Linda Leali, Esq., serves as Subchapter V trustee.
Judge Erik P. Kimball handles the case.
The Debtor is represented by Craig I. Kelley, Esq., at Kelley
Kaplan & Eller, PLLC.
WELLMADE FLOOR: Hires Greenberg Traurig as Bankruptcy Counsel
-------------------------------------------------------------
Wellmade Floor Coverings International, Inc. and Wellmade
Industries MFR NA LLC seek approval from the U.S. Bankruptcy Court
for the Northern District of Georgia to employ Greenberg Traurig,
LLP as counsel.
The firm's services include:
a. providing legal advice with respect to the Debtors' powers
and duties as debtors in possession in the continued operation of
their business and management of their property;
b. negotiating, drafting, and pursuing all documentation
necessary in these Chapter 11 Cases;
c. preparing, on behalf of the Debtors, applications, motions,
answers, orders, reports, and other legal papers necessary to the
administration of the Debtors' estates;
d. appearing in Court and protecting the interests of the
Debtors before the Court;
e. assisting with any disposition of the Debtors' assets, by
sale or otherwise;
f. negotiating and taking all necessary or appropriate actions
in connection with a plan or plans of reorganization and all
related documents thereunder and transactions contemplated
therein;
g. attending meetings and negotiating with representatives of
creditors, the United States Trustee, and other
parties-in-interest;
h. providing legal advice, including, but not limited to,
advice regarding bankruptcy law, corporate law, corporate
governance, employment, transactional, tax, labor, litigation, and
intellectual property law to the Debtors in connection with the
Debtors' ongoing business operations;
i. 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;
j. performing other legal services for, and providing other
necessary legal advice to, the Debtors, which may be necessary and
proper in these Chapter 11 Cases; and
k. providing other related services as requested by the
Debtors and reasonably acceptable to Greenberg Traurig.
Greenberg Traurig's hourly rates are:
Shareholders $615 to $2,250
Of Counsel $550 to $1,975
Associates $350 to $1,220
Legal Assistants/Paralegals $140 to $655
Greenberg Traurig received advance payment retainers from the
Debtors in the aggregate amount of $550,000.
Pursuant to Part D1 of the Revised UST Guidelines, Greenberg
Traurig hereby provides the following responses:
Question: Did you agree to any variations from, or alternatives
to, your standard or customary billing arrangements for this
engagement?
Response: No.
Question: Do any of the professionals included in this
engagement vary their rate based on the geographic location of the
bankruptcy case?
Response: No.
Question: If you represented the client in the 12 months
prepetition, disclose your billing rates and material financial
terms for the prepetition engagement, including any adjustments
during the 12 months prepetition. If your billing rates and
material financial terms have changed post-petition, explain the
difference and reasons for the difference.
Response: The material financial terms for the prepetition
engagement remained the same, except that on Jan. 1, 2025,
Greenberg Traurig increased certain hourly rates in accordance with
its historical practice and procedures.
Question: Has your client approved your respective budget and
staffing plan, and, if so, for what budget period?
Response: The Debtors and Greenberg Traurig expect to develop a
prospective budget and staffing plan, recognizing that in the
course of these Chapter 11 Cases, there may be unforeseeable fees
and expenses that will need to be addressed by the Debtors and
Greenberg Traurig.
John Elrod, Esq., a shareholder at Greenberg Traurig, 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:
John D. Elrod, Esq.
Greenberg Traurig, LLP
Terminus 200
3333 Piedmont Road NE, Suite 2500
Atlanta, GA 30305
Tel: (678) 553-2100
Fax: (678) 553-2212
Email: elrodj@gtlaw.com
About Wellmade Floor Coverings International
Wellmade Floor Coverings International Inc. manufactures and
distributes hard-surface flooring products, including bamboo,
hardwood, and vinyl. The privately owned Company is based in the
United States, with a manufacturing facility in Cartersville,
Georgia, and sales offices and warehousing in Portland, Oregon. A
non-debtor affiliate operates in China.
Wellmade Floor Coverings International Inc. and its affiliates
sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr.
N.D. Ga. Lead Case No. 25-58764) on August 4, 2025. In its
petition, Wellmade Floor reports estimated assets between $50
million and $100 million and estimated liabilities between $10
million and $50 million.
Honorable Bankruptcy Judge Sage M. Sigler handles the cases.
The Debtors are represented by Greenberg Traurig, LLP. Kurtzman
Carson Consultants, LLC d/b/a Verita Global is the Debtors' claims,
noticing, solicitation and administrative agent.
WELLMADE FLOOR: Taps David M. Baker of Aurora Management as CRO
---------------------------------------------------------------
Wellmade Floor Coverings International, Inc. and Wellmade
Industries MFR NA LLC seek approval from the U.S. Bankruptcy Court
for the Northern District of Georgia to employ Aurora Management
Partners Inc. to provide certain additional personnel and designate
David M. Baker as chief restructuring officer.
The firm will render these services:
a. Liquidity:
(i) Assess and evaluate weekly cash flow projections and
related assumptions to determine liquidity availability.
(ii) Identify cost-saving and working capital opportunities
that can be immediately implemented to improve liquidity.
(iii) Work with the management team to understand cash
receipts and disbursement over a 13-week period to potentially
adjust business decisions to free up liquidity.
(iv) Work with the management team to request accommodation
and support from the Debtors' major Customers.
(v) Evaluate and analyze all aged account payable, taxes,
rent, etc.
b. Business Operations:
(i) Develop a business restructuring model that provides
scenario analysis to evaluate all strategic alternatives, including
the ability to file for Chapter 11 Bankruptcy protection.
(ii) Decide on and execute the appropriate Plan.
(iii) Manage cash flow to protect creditors and equity
holders.
(iv) With the approval of the Board, retain and manage
special legal counsel, investment bankers and other professionals
as required to execute the Plan.
(v) Sell assets of the Debtors without the need for further
approval of the Debtors' board of directors or board of managers,
as applicable, or their respective equity holders or members.
c. Other normal and customary duties, authority and
responsibility, typically provided to a CRO.
d. Other services as required or requested by the Debtors or
the Board.
The firm's hourly rates are:
Managing Director/
Sr. Managing Director/ $500 to $820
Managing Partner
Associate Director / Director $375 to $500
Consultant / Senior Consultant $250 to $375
received a retainer in the aggregate amount of $220,000.
Mr. Baker, managing partner for Aurora Management, assured the
court that Aurora is a disinterested person" as that term is
defined in section 101(14) of the Bankruptcy Code.
The firm can be reached through:
David M. Baker
Aurora Management Partners Inc.
112 South Tryon St. Ste 1770
Charlotte, NC 28284
Office: 704-377-6010
About Wellmade Floor Coverings International
Wellmade Floor Coverings International Inc. manufactures and
distributes hard-surface flooring products, including bamboo,
hardwood, and vinyl. The privately owned Company is based in the
United States, with a manufacturing facility in Cartersville,
Georgia, and sales offices and warehousing in Portland, Oregon. A
non-debtor affiliate operates in China.
Wellmade Floor Coverings International Inc. and its affiliates
sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr.
N.D. Ga. Lead Case No. 25-58764) on August 4, 2025. In its
petition, Wellmade Floor reports estimated assets between $50
million and $100 million and estimated liabilities between $10
million and $50 million.
Honorable Bankruptcy Judge Sage M. Sigler handles the cases.
The Debtors are represented by Greenberg Traurig, LLP. Kurtzman
Carson Consultants, LLC d/b/a Verita Global is the Debtors' claims,
noticing, solicitation and administrative agent.
WELLMADE FLOOR: Taps Hilco Corporate Finance as Investment Banker
-----------------------------------------------------------------
Wellmade Floor Coverings International, Inc. and Wellmade
Industries MFR NA LLC seek approval from the U.S. Bankruptcy Court
for the Northern District of Georgia to employ Hilco Corporate
Finance, LLC as its investment banker.
The firm's services include:
(a) becoming familiar, to the extent HCF deems appropriate,
with the commercial, financial, operational, and legal
circumstances of the Debtors. HCF anticipates that this will
include consideration of one or more potential Transactions and
other value-maximizing strategies that the Debtors may consider;
(b) identifying and recommending to the Debtors potential
buyers and capital sources in connection with a Transaction;
(c) with the Debtors' assistance, creating written materials
(e.g., a "teaser," confidential information memorandum, management
presentation, form of Non-Disclosure Agreement) to be used in
presenting the Transaction opportunity to prospective buyers and
capital sources. Prior to distribution of these materials, the
Debtors shall review, comment on, and provide written approval for
their use in connection with a Transaction;
(d) soliciting and reviewing proposals and making
recommendations and advising the Debtors in negotiating proposals
concerning a Transaction;
(e) assisting the Debtors in responding to the due diligence
review of interested parties with respect to a Transaction,
including by managing a Virtual Data Room ("VDR"), and assisting
the Debtors in organizing, populating, and maintaining the VDR;
(f) assisting the Debtors in soliciting, evaluating, and
negotiating Transaction proposals;
(g) assisting the Debtors and its other professional advisors
in negotiating definitive documentation concerning a Transaction
and otherwise assisting in the process of closing a Transaction;
(h) assisting with the preparation of Court motions related to
a Transaction;
(i) consulting with other retained parties, lenders,
creditors' committee, and other parties-in-interest;
(j) participating in court hearings and providing testimony in
connection with a Transaction; and
(k) performing such other tasks as appropriate and as may
reasonably be requested by the Debtors' management or counsel.
The firm will be compensated at these fees:
(i) Monthly Fee. A monthly fee (the "Monthly Fee") equal to
$20,000 for the services it provides in the month in which such
payment is made. The Monthly Fee shall be fully earned and
nonrefundable upon payment. All such Monthly Fees will be credited
to a Sale Transaction Fee or a Capital Raise Fee.
(ii) Sale Transaction Fee. A fee (a "Sale Transaction Fee")
upon and as a condition to the first closing of a Sale Transaction
in an amount equal to the greater of: (i) $650,000 or (ii) 2
percent of the Transaction Value.
(iii) Capital Raise Fee. A fee (a "Capital Raise Fee") upon and
as a condition to the first closing and funding of a Capital Raise
Transaction equal to the greater of: (i) $650,000, (ii) the sum of
(a) 2 percent of the committed amount of any Senior Debt, (b) 3.5
percent of the committed amount of any Junior Debt, and (c) 5
percent of the committed amount of any Equity or Equity Linked
Capital. The Capital Raise Fee will apply to all raised capital,
regardless of whether such amounts are funded as of closing. Should
the committed amount of Senior Debt, Junior Debt, Equity or Equity
Linked Capital be increased in the 12-months following the first
closing, the Debtors shall pay a fee on the increased committed
amount as provided in this paragraph.
(iv) If a Transaction is consummated in these Chapter 11 Cases
by a credit bid from the Debtors' secured lender, and the cash
component of any such bid does not include sufficient cash to pay
the Transaction Fee, HCF shall be deemed to have (and the Debtors
shall not object to) an administrative claim in the Chapter 11 Case
for any unpaid portion of the Transaction Fee.
(v) Expenses. In addition to any fees that may be paid to HCF
under the Engagement Letter, whether or not any Transaction occurs,
the Debtors will reimburse HCF, promptly upon receipt of an invoice
therefor, for all reasonable out-of-pocket expenses incurred in
connection with the engagement contemplated herein and in the
Engagement Letter, including those related to travel, meals,
lodging, and, upon written approval from the Debtors, attorneys'
fees as well as ancillary costs such as research, printing,
duplicating, postage and shipping, database access charges, and
other miscellaneous expenses incurred prior to termination or
expiration of the Engagement Letter. HCF may bill the Debtors for
its reimbursable expenses each month. Invoices are due and payable
on the date of issue and the Debtors hereby agree to pay any such
invoices within thirty (30) days of the invoice date.
Teri Stratton, senior managing director of Hilco, assured the court
that her firm is a "disinterested person" as that term is defined
in section 101(14).
The firm can be reached through:
Teri Stratton
Hilco Corporate Finance
5 Revere Dr, Suite 206
Northbrook, IL 60062
Email: tstratton@hilcocf.com
About Wellmade Floor Coverings International
Wellmade Floor Coverings International Inc. manufactures and
distributes hard-surface flooring products, including bamboo,
hardwood, and vinyl. The privately owned Company is based in the
United States, with a manufacturing facility in Cartersville,
Georgia, and sales offices and warehousing in Portland, Oregon. A
non-debtor affiliate operates in China.
Wellmade Floor Coverings International Inc. and its affiliates
sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr.
N.D. Ga. Lead Case No. 25-58764) on August 4, 2025. In its
petition, Wellmade Floor reports estimated assets between $50
million and $100 million and estimated liabilities between $10
million and $50 million.
Honorable Bankruptcy Judge Sage M. Sigler handles the cases.
The Debtors are represented by Greenberg Traurig, LLP. Kurtzman
Carson Consultants, LLC d/b/a Verita Global is the Debtors' claims,
noticing, solicitation and administrative agent.
WELLPATH HOLDINGS: Court Dismisses Mosqueda v. Hash, et al. Case
----------------------------------------------------------------
Judge Donald W. Molloy of the United States District Court for the
District of Montana granted in full the Missoula County Defendants'
motion to dismiss the amended complaint in the case captioned as
JOSE MOSQUEDA, Plaintiff, vs. CAPTAIN HASH, NURSE GABBY, NURSE
KELLI, NURSE RYLAND, and MISSOULA COUNTY, Defendants, Case No.
24-cv-00048-DWM (D. Mont.).
The Amended Complaint names Missoula County, as well as MCDF
Captain Michael Hash ("County Defendants"), as well as three
nurses, Nurse Gabby, Nurse Kelli, and Nurse Ryland, employed by
Wellpath, a private company contracted to provide medical services
at MCDF ("Wellpath Defendants").
The County Defendants and the Wellpath Defendants both moved to
dismiss Plaintiff's claims against them pursuant to Fed. R. Civ. P.
12(b)(6). County Defendants also assert qualified immunity on
behalf of Captain Hash and claim that Mosqueda failed to exhaust
his claims. Prior to briefing on the motions to dismiss was
completed, this matter was stayed as a result of bankruptcy
proceedings involving Wellpath in the United States Bankruptcy
Court of the Southern District of Texas. The stay was lifted as to
the County Defendants on May 29, 2025.
As to the Wellpath Defendants, the stay remains in effect.
Mosqueda's Claims
Mosqueda claims that Captain Hash, as the policy maker and
supervisor of MCDF, failed to adequately train and supervise the
medical staff and correctional officers, which resulted in the
deprivation of his rights and reckless negligence, causing his pain
and discomfort. Mosqueda asserts properly trained correctional
officers and staff could have observed and responded to Mosqueda's
injuries and determined a difference course of treatment was
necessary. The lack of proper policy to protect Mosqueda and the
repeated mistakes amounted to deliberate indifference.
Mosqueda asserts the responsibility of providing proper medical
care and medical providers falls upon Missoula County and there was
a duty to make sure that the facility staff and correctional
officers had proper and adequate training. The failure to provide
such personnel constitutes a Fourteenth Amendment violation and
indifference to Mosqueda's pain. The medical treatment entrusted by
the County to Captain Hash and Wellpath was unreasonable, according
to Mosqueda.
Motion to Dismiss
In response to Mosqueda's claims, County Defendants assert that
Mosqueda fails to state a claim against Captain Hash or Missoula
County. Specifically, Defendants state that Captain Hash did not
participate in any of Mosqueda's treatment decisions and Mosqueda
did not allege that Hash was aware of his injuries.
Mosqueda has not identified a specific policy, or an event
instigated by Hash. According to the District Court, because there
is no identifiable policy, Mosqueda cannot plausibly plead a
constitutional injury resulted from Missoula County's policies. The
County Defendants are correct that Mosqueda's failure to identify a
custom or policy of MCDF, which was objectively unreasonable or
recklessly disregarded his wellbeing is fatal to his claim. Because
he does not identify any policy there cannot be a policy which was
the driving force in his alleged injury. Mosqueda's bald and
conclusory allegations are insufficient, the District Court
concludes.
The District Court agrees with the County Defendants that
Mosqueda's complaint shows that there was a system in place,
whereby the County contracted with Wellpath and outside medical
providers, to review and respond to Mosqueda's needs.
The District Court finds Mosqueda has not plausibly pled a viable
Fourteenth Amendment violation. Because the County Defendants did
not violate Mosqueda's constitutional rights, the District Court
need not and does not consider whether the defendants are entitled
to qualified immunity.
Wellpath Defendants
Relative to the Wellpath Defendants, Mosqueda alleges Nurse Gabby,
Nurse Kelli, and Nurse Ryland intentionally failed to provide him
with sufficient medical treatment while he was incarcerated at
MCDF, which put him at a substantial risk of serious harm.
Wellpath Defendants' then filed a Suggestion of Bankruptcy advising
the Court that on Nov. 19, 2024, Wellpath LLC, had filed a
Voluntary Petition for Non-Individuals Filing Bankruptcy for Relief
under Chapter 11 of Title 11 of the United States Code in the
United States Bankruptcy Court for the Southern District of Texas
(Houston Division). On Nov. 20, 2024, the District Court entered an
order staying the matter as to all parties.
On May 29, 2025, the District Court took judicial notice that the
automatic stay in the Bankruptcy Court that was applicable to
Wellpath entities expired on May 9, 2025, and the stay applicable
to non-debtor defendants expired on May 7, 2025. Wellpath advised
that pursuant to Article IX.A of the Plan and Paragraph 3 of the
June 4, 2025 Stay Order, all claims and causes of action against
debtors are discharged as a result of the plan becoming effective.
Under Article IX.F of the Plan, holders of claims and causes of
action that are discharged or released are permanently enjoined
from:
(i) commencing or continuing in any manner any action or other
proceeding of any kind on account of or in connection with or with
respect to any such claims or interests; and
(ii) commencing or continuing in any manner any action or other
proceeding of any kind on account of or in connection with or with
respect to any such claims or interests released or settled
pursuant to the Plan; provided, that, for the avoidance of doubt,
this Article IX.F shall not apply to parties that timely opt out of
the Third-Party Release to preserve their claims against the
Released Parties.
Wellpath Defendants also noted, pursuant to the Stay Order, holders
of claims or interests that affirmatively elected to opt out of the
Plan's Third-Party Release may bring or continue to pursue claims
against the Non-Debtor Defendants, including employees of the
Debtors or employees of the Post Restructuring Debtors. Thus, the
documents filed by Wellpath Defendants indicate that he nurse
defendants named in this matter are employed by Debtor Wellpath and
the Plan deals with claims against the Debtor and Debtor's
employees.
The District Court notes that Paragraph 43 of the Confirmation
Order provides that Reorganized Wellpath shall provide notice to
all known personal injury claimants of the extended 90-day period
to opt out from the Third-Party Release in Article IXD and file a
certificate of service with the Bankruptcy Court. It does not
appear that Mosqueda timely filed to opt out of the third-party
releases contained in the Plan. Pursuant to the Plan, a claim
against the Debtor and Debtor's employees is discharged unless the
Plaintiff elected to opt-out of the third-party releases.
Accordingly, Mosqueda as the holder of a general unsecured claim
must go through the Bankruptcy Court and the Plan, specifically the
Liquidating Trust, to determine what amount of distribution, if
any, he is entitled to. The Bankruptcy Court has exclusive
jurisdiction over the Plan and all matters related to it. The
Wellpath Defendants will be dismissed from this action.
The District Court ordered as follows:
1. County Defendants' motion to dismiss is granted in full.
County Defendants are dismissed from this action.
2. The remaining Defendants, Nurse Gabby, Nurse Kelli, and Nurse
Ryland are dismissed from this matter. Mosqueda must pursue claims
against these Defendants pursuant to the terms outlined in the
Chapter 11 Plan and Trust Distribution Procedures in the Bankruptcy
Court.
3. Wellpath's motion to dismiss for failure to state a claim is
denied as moot.
A copy of the Court's Order is available at
https://urlcurt.com/u?l=Ddcvgm from PacerMonitor.com.
About Wellpath Holdings
Wellpath Holdings, Inc., formerly known as CCS-CMGC Holdings, Inc.,
is a provider of medical and mental healthcare in jails, prisons,
and inpatient and residential treatment facilities.
Wellpath Holdings and its affiliates sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Lead Case
No. 24-90533) on Nov. 11, 2024. Timothy Dragelin, chief
restructuring officer and chief financial officer, signed the
petitions. At the time of the filing, the Debtors reported $1
billion to $10 billion in assets and liabilities.
Judge Alfredo R. Perez oversees the cases.
The Debtors tapped Marcus A. Helt, Esq., at McDermott Will & Emery,
LLP, as bankruptcy counsel; FTI Consulting, Inc., as financial
advisor; and Lazard Freres & Co., LLC and MTS Partners, LP as
investment banker.
WELLPATH HOLDINGS: Court Dismisses Webster v. Nurse Kelly Case
--------------------------------------------------------------
Judge Donald W. Molloy of the United States District Court for the
District of Montana dismissed the the case captioned as DARREN
JAMES WEBSTER, Plaintiff, vs. NURSE KELLY, Defendant, Case No.
24-cv-00165-DWM (D. Mont.) after lifting stay. Webster must pursue
claims against Nurse Kelly pursuant to the terms outlined in the
Chapter 11 Plan and Trust Distribution Procedures in the United
States Bankruptcy Court for the Southern District of Texas.
This matter has been stayed, due to the bankruptcy proceedings of
the employer of the sole defendant, Wellpath, LLC. Wellpath's
bankruptcy reorganization plan has been confirmed, and Wellpath is
no longer a Debtor under the Bankruptcy Code.
On June 6, 2025, judicial notice was taken that the automatic stay
in the Bankruptcy Court applicable to Wellpath entities expired on
May 9, 2025, and the stay applicable to non-debtor defendants
expired on May 7, 2025.
Wellpath advised that pursuant to Article IX.A of the Plan and
Paragraph 3 of the June 4, 2025 Stay Order, all claims and causes
of action against debtors are discharged as a result of the plan
becoming effective.
Under Article IX.F of the Plan, holders of claims and causes of
action that are discharged or released are permanently enjoined
from:
(i) commencing or continuing in any manner any action or other
proceeding of any kind on account of or in connection with or with
respect to any such claims or interests; and
(ii) commencing or continuing in any manner any action or other
proceeding of any kind on account of or in connection with or with
respect to any such claims or interests released or settled
pursuant to the Plan; provided, that, for the avoidance of doubt,
this Article IX.F shall not apply to parties that timely opt out of
the Third-Party Release to preserve their claims against the
Released Parties.
Wellpath Defendants also noted, pursuant to the Stay Order, holders
of claims or interests that affirmatively elected to opt out of the
Plan's Third-Party Release may bring or continue to pursue claims
against the Non-Debtor Defendants, including employees of the
Debtors or employees of the Post Restructuring Debtors. Thus, the
documents filed by Wellpath Defendants indicate that the nurse
defendant named in this matter is employed by Debtor Wellpath, and
the Plan deals with claims against the Debtor and Debtor's
employees.
Paragraph 43 of the Confirmation Order provides that Reorganized
Wellpath shall provide notice to all known personal injury
claimants of the extended 90-day period to opt out from the
Third-Party Release in Article IXD and file a certificate of
service with the Bankruptcy Court. Webster did not timely opt out
of the third-party releases contained in the Plan. Pursuant to the
Plan, a claim against the Debtor and Debtor's employees is
discharged unless the Plaintiff elected to opt-out of the
third-party releases.
Accordingly, Webster, as the holder of a general unsecured claim,
must go through the Bankruptcy Court and the Plan, specifically the
Liquidating Trust, to determine what amount of distribution, if
any, he is entitled to. The Bankruptcy Court has exclusive
jurisdiction over the Plan and all matters related to it. This
matter asserted against a single Wellpath defendant will be
dismissed.
A copy of the Court's Order is available at
https://urlcurt.com/u?l=YiGqLs from PacerMonitor.com.
About Wellpath Holdings
Wellpath Holdings, Inc., formerly known as CCS-CMGC Holdings, Inc.,
is a provider of medical and mental healthcare in jails, prisons,
and inpatient and residential treatment facilities.
Wellpath Holdings and its affiliates sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Lead Case
No. 24-90533) on Nov. 11, 2024. Timothy Dragelin, chief
restructuring officer and chief financial officer, signed the
petitions. At the time of the filing, the Debtors reported $1
billion to $10 billion in assets and liabilities.
Judge Alfredo R. Perez oversees the cases.
The Debtors tapped Marcus A. Helt, Esq., at McDermott Will & Emery,
LLP, as bankruptcy counsel; FTI Consulting, Inc., as financial
advisor; and Lazard Freres & Co., LLC and MTS Partners, LP as
investment banker.
WOLFSPEED INC: Court Confirms Restructuring Plan to Cut Debt
------------------------------------------------------------
Dorothy Ma of Bloomberg Law reports that Wolfspeed Inc. won court
approval for its Chapter 11 restructuring plan on Monday, September
8, 2025,just over a month after filing for bankruptcy.
The plan reduces more than $4.6 billion in funded debt, grants
shareholders new publicly traded equity, and leaves unsecured
creditors unimpaired, company counsel Alexander W. Welch told the
court, according to the report.
Wolfspeed expects to exit bankruptcy by the end of September 2025
and continues talks with regulators. Court filings value the
reorganized chipmaker at $2.35 billion to $2.85 billion.
About Wolfspeed, Inc.
Wolfspeed, Inc. (NYSE:WOLF) is an innovator of wide bandgap
semiconductors, focused on silicon carbide materials and devices
for power applications. Its product families include silicon
carbide materials and power devices targeted for various
applications such as electric vehicles, fast charging and
renewable
energy and storage.
On June 30, 2025, Wolfspeed, Inc. and Wolfspeed Texas, LLC each
filed petitions seeking relief under chapter 11 of the United
States Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-90163),
with Judge Christopher M. Lopez presiding. The Debtors sought
Chapter 11 protection after reaching a deal with lenders on a
debt-for-equity plan that would reduce debt by $4.6 billion.
Latham & Watkins LLP and Hunton Andrews Kurth LLP are serving as
legal counsel to Wolfspeed, Perella Weinberg Partners is serving as
financial advisor and FTI Consulting is serving as restructuring
advisor. Epiq is the claims agent.
Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal
counsel to the senior secured noteholders and Moelis & Company is
serving as the senior secured noteholders' financial advisor.
Kirkland & Ellis LLP is serving as legal counsel to Renesas
Electronics Corporation, PJT Partners is serving as its financial
advisor, and BofA Securities is serving as its structuring
advisor.
Ropes & Gray LLP is serving as legal counsel to the convertible
debtholders and Ducera Partners is serving as financial advisor to
the convertible debtholders.
WOODCREST CONDOMINIUMS IX: Taps Samson Companies as Estate Broker
-----------------------------------------------------------------
Woodcrest Condominiums IX, LLC seeks approval from the U.S.
Bankruptcy Court for the District of Columbia to hire Samson
Companies LLC as real estate broker.
The firm will market and sell the three finished condominium units
owned by the Debtor.
The firm will receive a commission for each sale equal to 3 percent
of the purchase price of each unit.
As disclosed in the court filings, Samson is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code.
The firm can be reached through:
Pablo Flower
Samson Companies, LLC
5021 Wilson Lane,
Bethesda, MD 20814
Phone: (301) 760-2136
About Woodcrest Condominiums IX LLC
Woodcrest Condominiums IX LLC is a residential real estate company
that appears to develop or manage condominium properties in
Washington, DC, operating under the Woodcrest Villas brand. The
company maintains its principal place of business at 454-460
Woodcrest Drive SE in Washington, DC, with its primary operations
in residential building construction as indicated by its NAICS code
2361.
Woodcrest Condominiums IX LLC sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D.C. Case No. 25-00265) on July 9,
2025. In its petition, the Debtor reports estimated assets and
liabilities between $1 million and $10 million each.
Judge Elizabeth L. Gunn oversees the case.
The Debtors are represented by Brent C. Strickland, Esq. at
Whiteford Taylor & Preston L.L.P.
WOODCREST CONDOMINIUMS V: Hires Morris Palerm LLC as Attorney
-------------------------------------------------------------
Woodcrest Condominiums V LLC seeks approval from the U.S.
Bankruptcy Court for the District of Columbia to hire 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 $10,000; 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 Woodcrest Condominiums V LLC
Woodcrest Condominiums V LLC is a residential real estate company
that appears to develop or manage condominium properties in
Washington, DC, operating under the Woodcrest Villas brand.
Woodcrest Condominiums V LLC sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D.C. Case No. 25-00335) on August 15,
2025. In its petition, the Debtor reports estimated assets and
liabilities between $1 million and $10 million each.
Judge Elizabeth L. Gunn oversees the case.
The Debtors are represented by Douglas Neil Gottron, Esq. at Morris
Palerm, LLC.
WOODCREST CONDOMINIUMS X: Hires Morris Palerm LLC as Attorney
-------------------------------------------------------------
Woodcrest Condominiums X LLC seeks approval from the U.S.
Bankruptcy Court for the District of Columbia to hire 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 $10,000; 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 Woodcrest Condominiums X LLC
Woodcrest Condominiums X LLC is a residential real estate company
that appears to develop or manage condominium properties in
Washington, DC, operating under the Woodcrest Villas brand.
Woodcrest Condominiums X LLC sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D.C. Case No. 25-00338) on August 15,
2025. In its petition, the Debtor reports estimated assets and
liabilities between $1 million and $10 million each.
Judge Elizabeth L. Gunn oversees the case.
The Debtors are represented by Douglas Neil Gottron, Esq. at Morris
Palerm, LLC.
ZEN JV: Unsecureds to Recover Up to 9.7% of Claims in Plan
----------------------------------------------------------
Zen JV, LLC and its debtor affiliates submitted an Amended Combined
Plan and Disclosure Statement dated September 2, 2025.
The Combined Plan and Disclosure Statement constitutes a joint
liquidating chapter 11 plan for the Debtors and provides for the
Distribution of the Debtors' Assets already liquidated or to be
liquidated over time to the Holders of Allowed Claims in accordance
with the terms of the Combined Plan and Disclosure Statement and
the priority of claims provisions of the Bankruptcy Code.
Global Settlement
Shortly after the Petition Date, the Committee commenced a thorough
investigation into potential Estate Claims and Causes of Action
that could be pursued for the benefit of Holders of General
Unsecured Claims. That investigation focused on, among other
things, (i) claims to challenge the extent, validity, and priority
of the prepetition Liens and Claims asserted by the Prepetition
Secured Parties, (ii) claims to recharacterize the Prepetition
Secured Parties' purported Secured Claims as equity, (iii) Claims
related to the Business Combination, and (iv) potential Avoidance
Actions against certain of the Prepetition Secured Parties related
to various intercompany agreements with the Debtors. The
Committee's investigation did not reveal any colorable Claims that
would, in the Committee's view, materially improve recoveries of
Holders of General Unsecured Claims.
In light of the foregoing, the Debtors, the Committee, and the
Prepetition Secured Parties (collectively, the "Global Settlement
Parties") engaged in extensive, good-faith and arm's length
negotiations regarding the construct of a potential global
resolution. Those negotiations ultimately culminated in a
settlement (the "Global Settlement") between the Global Settlement
Parties. The Global Settlement is incorporated in the Combined Plan
and Disclosure Statement and provides for materially improved
treatment for Holders of General Unsecured Claims than what was
provided for in the initial chapter 11 plan (the "Initial Plan").
Specifically, the Global Settlement effectively caps the
Prepetition Term Loan Secured Parties' and the Prepetition Notes
Secured Parties' aggregate recoveries at $12,060,160 and
$21,538,799, respectively, and preserves all remaining Estate value
for the benefit of Holders of General Unsecured Claims.
The Global Settlement provides material value for Holders of
General Unsecured Claims. More critically, however, the Global
Settlement provides a runway towards confirmation of a consensual
chapter 11 plan and payment in full of Allowed Administrative
Expense Claims, Allowed Priority Tax Claims, and Allowed Other
Priority Claims. The resolution also avoids costly litigation that,
in the Committee's view, may result in the conversion of these
Chapter 11 Cases to cases under chapter 7 of the Bankruptcy Code.
The Committee believes conversion would likely yield materially
lower recoveries or no recoveries to Holders of General Unsecured
Claims, and that the Global Settlement is a superior outcome to
conversion of these cases.
Class 4 consists of the Prepetition Notes Claims. On the Effective
Date, or as soon as reasonably practicable thereafter, except to
the extent that a Holder of an Allowed Prepetition Notes Claim has
agreed to less favorable treatment of such Claim, the Debtors or
the Liquidation Trust, as applicable, shall transfer the
Prepetition Notes Recovery Amount to the Prepetition Notes Agent
for distribution to the Prepetition Noteholders on account of the
Prepetition Notes Obligations in accordance with the terms of the
Prepetition Notes.
Class 5 consists of General Unsecured Claims. On the Effective
Date, or as soon as reasonably practicable thereafter, except to
the extent that a Holder of an Allowed General Unsecured Claim has
agreed to less favorable treatment of such Claim, each such Holder
of an Allowed General Unsecured Claim, shall receive its Pro Rata
share of the Liquidation Trust Assets pursuant to the Waterfall
Recovery. This Class will receive a distribution of 0% to 9.7% of
their allowed claims. Class 5 is Impaired.
On the Effective Date, the Liquidation Trustee shall sign the
Liquidation Trust Agreement and, in his, her or its capacity as
Liquidation Trustee, accept all Liquidation Trust Assets on behalf
of the Liquidation Trust Beneficiaries, and be authorized to
obtain, collect, seek the turnover of, liquidate, and collect all
of the Liquidation Trust Assets not in its possession or control.
The Liquidation Trust will then be created and effective without
any further action by the Bankruptcy Court or any Person as of the
Effective Date.
The Liquidation Trust shall be established for the primary purpose
of liquidating the Liquidation Trust Assets and making
Distributions in accordance with the Combined Plan and Disclosure
Statement and the Liquidation Trust Agreement, with no objective to
continue or engage in the conduct of a trade or business, except
only in the event and to the extent necessary to, and consistent
with, the liquidating purpose of the Liquidation Trust.
The Holders Allowed General Unsecured Claims, and if applicable,
the Holders of Allowed Prepetition Notes Claims entitled to
Distributions hereunder shall be the Liquidation Trust
Beneficiaries and shall be bound by the Liquidation Trust
Agreement. The interests of the Liquidation Trust Beneficiaries in
the Liquidation Trust shall be uncertificated and transferable in
accordance with the terms set forth in the Combined Plan and
Disclosure Statement and the Liquidation Trust Agreement.
A full-text copy of the Amended Combined Disclosure Statement and
Plan dated September 2, 2025 is available at
https://urlcurt.com/u?l=nqtw8P from Omni Agent Solutions, Inc.,
claims agent.
Co-Counsel for the Debtors:
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
- and -
Jonathan C. Gordon, Esq.
LATHAM & WATKINS LLP
330 North Wabash Avenue, Suite 2800
Chicago, IL 60611
Telephone: (312) 876-7700
Email: jonathan.gordon@lw.com
- and -
Daniel J. DeFranceschi, Esq.
Zachary I. Shapiro, Esq.
Huiqi Liu, Esq.
Clint M. Carlisle, Esq.
Colin A. Meehan, Esq.
RICHARDS, LAYTON & FINGER, P.A.
One Rodney Square
920 North King Street
Wilmington, DE 19801
Telephone: (302) 651-7700
Email: defranceschi@rlf.com
shapiro@rlf.com
liu@rlf.com
carlisle@rlf.com
meehan@rlf.com
About Zen JV LLC
Zen JV, LLC sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 25-11195) on June 24,
2025, listing up to $100 million in assets and up to $500,000 in
liabilities. Jeff Furman, chief executive officer of Zen JV, signed
the petition.
Judge Kate Sickles oversees the case.
Zachary I. Shapiro, Esq., at Richards, Layton & Finger, P.A., is
the Debtor's legal counsel.
JMB Capital Partners Lending, LLC, as DIP lender, is represented by
Matthew B. Lunn, Esq., and Robert F. Poppiti, Jr., Esq. of Young
Conaway Stargatt & Taylor, LLP, and Robert M. Hirsh, Esq., and
James A. Copeland, Esq. of Norton Rose Fulbright US LLP.
The U.S. Trustee for Region 3 appointed an official committee to
represent unsecured creditors in the Chapter 11 cases of Zen JV,
LLC and its affiliates.
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Troubled Company Reporter is a daily newsletter co-published
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