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251009.mbx T R O U B L E D C O M P A N Y R E P O R T E R Thursday, October 9, 2025, Vol. 29, No. 281 Headlines 1300 DESERT: Hires Meltzer Lippe Goldstein as Real Estate Counsel 19 COOPER STREET: Secured Lender Files Liquidating Plan 2315 LOMA VISTA: Claims to be Paid from Property Sale Proceeds 4054 MYSTIC VALLEY: Taps Jeffery Johnson as Bankruptcy Counsel 5303 WOODSIDE: To Sell Woodside Property to R. Miah & N. Seenauth ABUELO'S INTERNATIONAL: Hires Lain Faulkner & Co as Accountant ABUELO'S INTERNATIONAL: Taps Rochelle McCullough as Legal Counsel AIR EXPRESS: Seeks Chapter 7 Bankruptcy in Texas ALPHA WOLF: Seeks to Hire Harris Shelton Hanover Walsh as Counsel AMERI-DENT DENTAL: Gets Extension to Access Cash Collateral ARIZONA STATE: Gets Final OK to Use Cash Collateral ART OLDCO: Liquidating Trustee Taps Seese P.A. as Counsel ASHMARK CONSTRUCTION: Claims to be Paid from Ongoing Operation AVALON SUGAR: To Sell Hotel Assets to Royal Hotel Group for $15.2MM AVON PRODUCTS: Trust Sues Insurers Over Talc-Related Liabilities BACK COUNTRY: Brian Rothschild Named Subchapter V Trustee BE PLASTICS: Case Summary & 20 Largest Unsecured Creditors BE PLASTICS: Seeks to Hire Lane Law Firm as Bankruptcy Counsel BEDFORD CAPITAL: Seeks to Hire Alla Kachan as Bankruptcy Counsel BISCUIT BAR: Case Summary & 16 Unsecured Creditors BISCUIT BAR: Seeks Chapter 11 Bankruptcy in Texas BITTREX INC: Court Affirms Disallowance of Azim Ghader's Claims BLH TOPCO: Sun Holdings Buys Bar Louie Out of Bankruptcy BMX TRANSPORT: Seeks to Hire AlphaTaxPrep LLC as Tax Preparer BOXLIGHT CORP: HIC 2 No Longer Owns Class A Common Shares BURGERFI INT'L: Court Orders Insurance Refund Paid to Ch.11 Trustee CALDWELL HOLDINGS: Hires Rountree Leitman Klein & Geer as Attorney CAPITAL DISTRICT: Francis Brennan Named Subchapter V Trustee CAREERBUILDER + MONSTER: Chapter 11 Plan Gets Court Approval CARIBBEAN CRESCENT: Hires Steven H. Greenfeld as Legal Counsel CARING FOR YOU: No Resident Complaints, 3rd PCO Report Says CASEY'S POND: Community Initiative Saves It from Receivership CINEMEX HOLDINGS: Bankruptcy Exit Plan Sparks Landlord Opposition CLAIRE'S STORES CANADA: Gets CCAA Initial Stay Order COLLABORATION SOFTWARE: Seeks Subchapter V Bankruptcy in Georgia COMPLEMAR PARTNERS: Hires Dorset Partners LLC as Investment Banker COTIVITI INC: Moody's Affirms 'B2' CFR & Alters Outlook to Stable CPW CORP: Seeks Approval to Hire Grenier Lender as Accountant CPW CORP: Seeks to Hire Green & Sklarz as Bankruptcy Counsel CPW CORP: Seeks to Hire Holth & Kollman as Special Counsel DATAVAULT INC: Secures Multi-Million IBM Commitment of Resources DECKER & WILLIAMS: Case Summary & Four Unsecured Creditors DERMOT CAWLEY: Cooper & Elliott, et al. Lose Bid to Transfer Case DIAMOND RENOVATIONS: Continued Operations to Fund Plan Payments DISCOVERY WOODS: Seeks Chapter 11 Bankruptcy in Georgia DOUBLE PORTION: Seeks Chapter 11 Bankruptcy in Texas DRAGONFLY PRIMARY: Gets Final OK to Use Cash Collateral DREAM LAND: Seeks to Hire BIH MFG LLC as Business Consultant ESCALON MEDICAL: Swings to $105,525 Net Income in FY2025 ESSENTIALS MASSAGE: Gets Extension to Access Cash Collateral ETROG PROPERTIES: Seeks to Sell NY Apartments at Auction GAMIL EDHAH: Seeks Chapter 11 Bankruptcy in New York GILL RANCH: Taps Newcastle Properties Group as Listing Agent GLOBAL TECHNOLOGIES: FY25 10-K Filing Delayed Due to Auditor Change GLOBAL WOUND: Warns Liquidity Crisis if Medicare Repayment Delayed GRAFTON CONNOR: Seeks CCAA Protection; MNP as Monitor HART & HART: Seeks to Hire Rountree Leitman Klein as Attorney HAVOC BREWING: Hires Matheson & Associates as Special Counsel HERITAGE COAL: States Say Ch.11 Plan Sidesteps Environmental Laws HOWARD AVENUE: PNC et al. Can't Pursue Interlocutory Appeal HPC VINEBURN: Seeks to Hire Edgcomb Law Group as Special Counsel HYPER FOX: Janice Seyedin Named Subchapter V Trustee IF YOU PLEASE: Section 341(a) Meeting of Creditors on November 4 IH 35 TRANSPORTATION: Case Summary & 20 Top Unsecured Creditors JILL'S OFFICE: Gets Final OK to Use Cash Collateral Until Dec. 31 JL DANIELS: Voluntary Chapter 11 Case Summary JOHN BENNETT: Seeks Chapter 11 Bankruptcy in Georgia KAWANA MEADOWS: Hires Lapin & Taherian as Bankruptcy Counsel KBS REIT: Completes $100M Sale of Park Place Village, Reduces Debt KBS REIT: Renews Advisory Agreement with KBS Capital to Sept. 2026 KC TRANSPORT: Seeks to Hire Brenner Averett & Co. as Accountant KEIRAN INVESTMENTS: Seeks Subchapter V Bankruptcy in Texas KIDSVILLE LEARNING: Taps Aramis Hernandez as Bankruptcy Counsel KULANA HALE: Gets Interim OK to Use Cash Collateral L.D. LYTLE: Unsecureds to be Paid in Full over 60 Months LAVIE CARE: No Complaints at NC Facilities, 7th PCO Report Says LEISURE INVESTMENTS: Creditor Objects to Asset Sale Credit Bid LEXARIA BIOSCIENCE: Completes $4 Million Equity Financing LILY616 LLC: Court Denies Bid to Use Cash Collateral LUMEN TECHNOLOGIES: Level 3 Reprices $2.4B Credit Facilities LUNAI BIOWORKS: Net Loss Widens to $178 Million in FY25 LUXURBAN HOTELS: Cohen Weiss Represents HTC and the Funds MARLIN CONSTRUCTION: Hires David Jennis PA as Bankruptcy Counsel MATADOOR RESTAURANT: Gets Final OK to Use Cash Collateral MATTAMY GROUP: Moody's Raises CFR to Ba1 & Alters Outlook to Stable MAVERICK RESTAURANT: Gets Final Approval to Use Cash Collateral METRO MATTRESS: Wants to Close All Remaining Stores in Ch. 11 Case METROPOLITAN LIGHTING: Taps Arthur Lander CPA PC as Accountant MK RE HOLDINGS: Iana Vladimirova Named Subchapter V Trustee MONDAK PORTABLES: Hires Ascend Business as Financial Advisor MONDAK PORTABLES: Seeks to Hire Carothers & Hauswirth as Counsel MONDAK PORTABLES: Seeks to Hire Dakota Bankruptcy as Local Counsel MONTEREY BAY: Seeks to Hire Marc Voisenat as Bankruptcy Counsel MOUNTAIN VIEW: Cash Collateral Hearing Set for Oct. 30 MYSTERIOUS TRANSPORTATION: Seeks Chapter 7 Bankruptcy in Texas NASITRA LLC: Seeks to Hire Baker & Associates as Attorney NASITRA LLC: Voluntary Chapter 11 Case Summary NEAREST GREEN DISTILLERY: Shows Stabilization Signs in Receivership NEIMAN MARCUS: Judge Set to Approve Trust's Revised Payout Plan NEP/NCP HOLDCO: Moody's Puts 'Caa1' CFR on Review for Upgrade NEW AGE FLOORING: Seeks to Tap EmergeLaw PLC as Bankruptcy Counsel NORDICUS PARTNERS: AC Nordic ApS Holds 17.42% Equity Stake NORTH WHITEVILLE: Gets One-Month Extension to Use Cash Collateral NOVA LIFESTYLE: Unit Invests $5.7M in Fund Holding SpaceX Shares NOW SOLUTIONS: Seeks to Hire Tittle Law Firm as Bankruptcy Counsel OAKTREE OCALA: Wins Bid to Employ Logs Legal as Special Counsel OLIVER CORNERS: Seeks Chapter 11 Bankruptcy in Georgia PAP-R PRODUCTS: Court Extends Cash Collateral Access to Nov. 30 PARENT SUPPORT: Hires Indeglia & Associates as Bankruptcy Counsel PAUL DAVID SCHULTZ: Court Affirms Chapter 7 Conversion Order PDG PRESTIGE: Weycer Kaplan Defeats DIP Lender's Claims PHOENIX AVIATION: Fitch Gives BB-(EXP) Rating to $592MM Term Loan B PJS CONSTRUCTION: Seeks to Hire Middlebrooks Shapiro as Counsel PRECISION EXPRESS: Hires Law Offices of Cecille Doan as Attorney PREMIER PEDIATRICS: Brian Rothschild Named Subchapter V Trustee PROPEL TRUCKING: Case Summary & 20 Largest Unsecured Creditors PROPEL TRUCKING: Seeks Chapter 11 Bankruptcy in Arkansas PROSPECT MEDICAL: Contests $1MM Software Fee Claims in Ch.11 Case PROSPECT MEDICAL: No Patient Care Concerns, 4th PCO Report Says PUERTO RICO: PREPA Bondholders Withdraw Reorg. Deal Support RAMDEEM'S ELECTRICAL: Case Summary & 20 Top Unsecured Creditors RAZZOO'S INC: Gets Interim Court Okay to Tap $3.3MM DIP Financing RED DOOR PIZZA: Gets Final Approval to Use Cash Collateral RED DOOR SANDWICH: Gets Final OK to Use Cash Collateral RED RIVER: 3d Circ. Won't Revisit J&J Investor Certification Appeal RELIANT LIFE: Amends Several Unsecured Claims Pay Details REVIVA PHARMACEUTICALS: 683 Capital Entities Hold 5.36% Stake REYNA HOSPITALITY: Hires Davidoff Hutcher & Citron LLP as Attorney RITE AID: Fails to Comply with Chapter 11 Sale Order, CVS Says RIZO-LOPEZ FOODS: Hires Stapleton Group as Financial Advisor RURAL CONNECT: Educational Broadband Counsel DQ'd S&B GROUP: Seeks to Hire Fallon Law PC as Bankruptcy Counsel S&G HOSPITALITY: Court Extends Cash Collateral Access to Nov. 30 SALLY'S RESTAURANT: Taps MNG Tax Accounting Service as Accountant SCV GRAPHIC: Seeks to Hire Simone & Roos LLP as Special Counsel SD BACKYARD: Unsecureds to Get 67 Cents on Dollar in Plan SDJ MAYPEARL: Claims to be Paid from Property Sale Proceeds SERENITY TENDER: PCO Gets OK to Tap Katherine Anderson as Counsel SHIELDS NURSING: No Resident Complaints, Ombudsman Report Says SHILO INN: Unsecureds Owed $1K+ to be Paid in Full over 5 Years SHPS LLC: Katharine Battaia Clark Named Subchapter V Trustee SIMBA IL HOLDINGS: Hires Shulman Bastian as Bankruptcy Counsel SINO GREEN: Requires Additional Time to Finalize FY25 Financials SOLIGENIX INC: Closes $7.5M Public Offering of Stock and Warrants SOURCE MORTGAGE: Seeks to Hire Payne Law Firm as Legal Counsel SSR HOSPITALITY: Creditors to Get Proceeds From Liquidation STANTON VIEW: Gets Final OK to Use Cash Collateral SYNECHRON HOLDINGS: $200MM Loan Add-on No Impact on Moody's B1 CFR TALEN ENERGY: S&P Affirms 'BB' Rating on Senior Secured Debt THERATECHNOLOGIES INC: Summer Road Holds 5.84% Equity Stake THOMPSON'S PHARMACY: Gets OK to Use Cash Collateral Until Dec. 31 THREEPIECEUS LLC: Ruediger Mueller Named Subchapter V Trustee TOTAL COLLECTION: Section 341(a) Meeting of Creditors on November 6 TZADIK SIOUX: Seeks to Tap Newpoint Advisors as Financial Advisor VALMAR CORP: Unsecured Creditors to Split $30K over 5 Years VAN'S EQUIPMENT: Gets Final OK to Use Cash Collateral VERDE RESOURCES: Delays FY25 10-K Filing VF CORP: S&P Affirms 'BB' Issuer Credit Rating, Outlook Stable VICTORIA'S KITCHEN: Court Extends Cash Collateral Access to Oct. 31 VILLAGES HEALTH: No Patient Care Concern, 1st PCO Report Says VVI HOLDINGS: Seeks to Hire Geri Lyons Chase as Bankruptcy Counsel WELCOME GROUP: Court Extends Cash Collateral Access to Dec. 15 WELLPATH HOLDINGS: Loses Bid to Dismiss Poronto Case WHITE TREE: Seeks to Hire Patten Peterman Bekkedahl as Attorney WHITE WILSON: Seeks Chapter 11 Bankruptcy in Florida WI-FI WHEELING: Court Extends Cash Collateral Access to Oct. 30 WIN WASTE: S&P Alters Outlook to Positive, Affirms 'B-' ICR WINDSTREAM HOLDINGS: S&P Withdraws 'B-' Issuer Credit Rating WN RESTAURANT: Claims to be Paid from Disposable Income WOLVERINE WORLD: Moody's Raises CFR to 'B2', Outlook Stable XTREME SPORTS: Section 341(a) Meeting of Creditors on November 7 [] Commercial Bankruptcy Filings Up 4% from Jan. to Sept. 2025 ********* 1300 DESERT: Hires Meltzer Lippe Goldstein as Real Estate Counsel ----------------------------------------------------------------- 1300 Desert Willow Road, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to hire Meltzer, Lippe, Goldstein & Breitstone, LLP as real estate counsel. The firm provides legal services to the Debtor related to the preparation of a lease agreement for the property located at 1300 Desert Willow Rd. Los Lunas, New Mexico. The hourly rates charged by the firm are: Partners $475 to $950 Counsel $470 to $800 Associates $310 to $650 Gary M. Meltzer, Esq. $750 The firm will also seek the reimbursement of travel and out of pocket expenses related to its work. Gary M. Meltzer, Esq., a partner at Meltzer Lippe, disclosed in court filings that his firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Gary M. Meltzer, Esq. Meltzer, Lippe, Goldstein & Breitstone, LLP 190 Willis Avenue Mineola, NY 11501 Telephone: (516) 747-0300 Email: ssteinberg@meltzerlippe.com About 1300 Desert Willow Road 1300 Desert Willow Road, LLC owns a property at 1300 Desert Willow Road in Los Lunas, New Mexico, valued at $40 million. 1300 Desert Willow Road sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-11375) on June 22, 2025. In its petition, the Debtor reported between $10 million and $50 million in assets and liabilities. Judge Philip Bentley oversees the case. The Debtor is represented by H. Bruce Bronson, Esq., at Bronson Law Offices, PC. Romspen Investment LP, as lender, is represented by: Brigid K. Ndege, Esq. Bryan Cave Leighton Paisner, LLP 161 North Clark Street, Suite 4300 Chicago, Illinois 60601 Telephone: (312) 602-5000 Facsimile: (312) 602-5050 E-mail: brigid.ndege@bclplaw.com 19 COOPER STREET: Secured Lender Files Liquidating Plan ------------------------------------------------------- Secured lender Fairbridge Credit LLC submitted an Amended Disclosure Statement describing Amended Plan of Liquidation for 19 Cooper Street, LLC dated September 29, 2025. The Debtor owns the real property known as and located at 19 Cooper Street, Brooklyn, New York 11207 (the "Property"). The Property, built in 1910, is a three-floor building with three residential units, and has a total of 2,937 square feet. As set forth in the proof of claim filed with this Court on August 20, 2024 (Claim Number 3), the Secured Lender holds a first mortgage lien against the Property, in the amount of $1,235,862.14, due and owing as of the Petition Date. The Secured Lender will waive any distribution on account of its unsecured deficiency claim in this case as long as the Plan, or any amended version thereof, is confirmed. On May 12, 2025, the Secured Lender filed a motion to limit the exclusivity period (the "Exclusivity Termination Motion") for filing a Chapter 11 plan and disclosure statement so that the Secured Lender could implement the sale of the Property pursuant to the Secured Lender's proposed liquidating plan of reorganization. The Exclusivity Termination Motion was granted by this Court on June 27, 2025. The Secured Lender filed its Chapter 11 plan of liquidation and disclosure statement proposing that the plan would be funded from the Sale Proceeds and Cash turned over by the Debtor to the Secured Lender or by Cash contributed by the Secured Lender. Subsequently, on July 24, 2025, the Debtor filed a motion to voluntarily dismiss the Chapter 11 Case in order to pursue relief outside of bankruptcy. The Secured Lender filed an objection to the same. On August 21, 2025, the Secured Lender filed a motion for sale of the Property pursuant to Section 363(b) of the Bankruptcy Code (the "Sale Motion"). A hearing on the Sale Motion was held on September 12, 2025, at which the Court granted the Sale Motion. The proposed Order is currently sub judice. Class 3 shall consist of Allowed General Unsecured Claims which shall be paid by the Disbursing Agent, the lesser of 100% of their Allowed Claims, without interest or their Pro Rata share of $25,000. The foregoing notwithstanding, in the event of an Alternative Sale Process, Class 3 Creditors shall be paid from the net proceeds of sale of the Property after the payment in full of the Allowed unclassified, Class 1 and Class 2 Claims. In the event that the net sale proceeds are insufficient to fund such distribution, the Secured Lender shall fund the shortfall. Holders of Allowed Class 3 Claims are Impaired under this Plan. The allowed unsecured claims total $9,000.00. Class 4 shall consist of the Debtor's Interest Holder. In the event that the Discounted Payoff and funding of the Debtor Plan Fund is remitted timely and in full and an Alternative Sale Process does not commence, the Interest Holder's interest in the Debtor will be retained but no distribution will be made on account thereof. In the event that an Alternative Sale Process is commenced, the Debtor's Interest Holder will retain its interest and shall receive any surplus generated from net proceeds of the sale of the Property after the payment of all Allowed unclassified, Class 1, 2 and 3 Claim in full. The Class 4 Interest Holder is unimpaired under this Plan and as such, is entitled to vote to accept or reject the Plan. Payments under the Plan due on the Effective Date shall be paid either by the Debtor from the (i) Debtor Plan Fund or (ii) from the proceeds of the sale of the Property following an Alternate Sale Process with the potential additional funding from the Secured Lender. A full-text copy of the Amended Disclosure Statement dated September 29, 2025 is available at https://urlcurt.com/u?l=qBBlpi from PacerMonitor.com at no charge. Counsel to Fairbridge Credit LLC: KIRBY AISNER & CURLEY LLP Erica R. Aisner, Esq. 700 Post Road, Suite 237 Scarsdale, New York 10583 (914) 401-9500 About 19 Cooper Street LLC 19 Cooper Street LLC owns the real property known as and located at 19 Cooper Street, Brooklyn, New York 11207 (the "Property"). The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No 23-44663) on December 15, 2023. Judge Elizabeth S. Stong presides over the case. Nnenna Okike Onua, Esq. at Mckinley Onua & Associates, PLLC, is the Debtor's legal counsel. 2315 LOMA VISTA: Claims to be Paid from Property Sale Proceeds -------------------------------------------------------------- 2315 Loma Vista LLC filed with the U.S. Bankruptcy Court for the Central District of California a Disclosure Statement describing Chapter 11 Plan dated September 30, 2025. The Debtor is a single member LLC. The sole managing member is Mariati Situmorang. The Debtor owns real estate located at 2315 Loma Vista Pl, Los Angeles, CA 90039. The estimated value of the property is $1,399,000.00 and the property is currently listed for sale for $1,145,000.00. The case was filed on May 13, 2025 in order to prevent foreclosure of the property which was scheduled for auction on May 14, 2025. Efforts to market and sell the property were delayed due to a recorded lis pendens on the property related to civil dispute with a neighbor which involved a disputed easement. The Debtor intends to continue its efforts to market and sell the property. This is a plan which provides for debtor to sell (liquidate) its residence and pay all creditors in full. The Effective Date of the Plan is fourteen calendar days following the date of entry of the order confirming the Plan unless a stay of confirmation order is in effect, in which case the Effective Date will be the first business day after the date on which the stay of confirmation order has been lifted, provided that the confirmation order has not been vacated, with the payment(s) beginning by the first day of the following month. Class 3 consists of of General Unsecured Claims. In the present case, the claims bar was August 11, 2025. The only unsecured claim in the case is the general unsecured portion of the FTB claim in the amount of $92.00. Debtor shall pay the claim in full upon the close of escrow. This Class is impaired. The Plan will be funded from the sale of the property. Once the sale of the property is final, Debtor will no longer operate. A full-text copy of the Disclosure Statement dated September 30, 2025 is available at https://urlcurt.com/u?l=Mtxf3m from PacerMonitor.com at no charge. Counsel to the Debtor: Thomas B. Ure, Esq. Ure Law Firm 8280 Florence Avenue, Suite 200 Downey, CA 90240 Tel: (213) 202-6070 Fax: (213) 202-6075 About 2315 Loma Vista LLC 2315 Loma Vista LLC owns a property located at 2315 Loma Vista PL, Los Angeles, CA 90039, with an appraised value of $1.40 million. 2315 Loma Vista LLCsought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-13989) on May 13, 2025. In its petition, the Debtor reports total assets of $1,399,000 and total liabilities of $716,656. Honorable Bankruptcy Judge Julia W. Brand handles the case. The Debtors are represented by Thomas B. Ure, Esq. at URE LAW FIRM. 4054 MYSTIC VALLEY: Taps Jeffery Johnson as Bankruptcy Counsel -------------------------------------------------------------- 4054 Mystic Valley Parkway JV LLC seeks approval from the U.S. Bankruptcy Court for the District of Massachusetts to hire Law Offices of Jeffery Johnson as counsel. The firm will render these services: a. provide legal advice with respect to its powers, duties and responsibilities as Debtor in possession on the continued operation of its business and management of its property; b. prepare necessary applications, answers, statements, complaints, orders, reports and other legal papers; c. represent the Debtor in all matters incidental to the petition; and d. perform all such other legal services. The firm's hourly rates are: Attorneys $350 Legal Assistants $75 As disclosed in the court filings, Law Offices of Jeffery Johnson is a "disinterested person" within the meaning of 11 U.S.C. 101(14). The firm can be reached through: Jeffery Johnson, Esq. Law Offices of Jeffery Johnson 67 School St Hyannis MA 02601 Tel: (508) 790-5776 Email: jeff@jefferyjohnsonesq.com About 4054 Mystic Valley Parkway JV LLC 4054 Mystic Valley Parkway JV LLC is a single-asset real estate company that owns and manages property at 4054 Mystic Valley Parkway in Medford, Massachusetts, focusing on real estate investment and development. 4054 Mystic Valley Parkway JV LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Mass. Case No. 25-11713) on August 19, 2025. In its petition, the Debtor reports $10,000,001 to $50 million in both assets and liabilities. The Debtor is represented by Jeffery Johnson, Esq. at LAW OFFICE OF JEFFERY JOHNSON, ESQUIRE. 5303 WOODSIDE: To Sell Woodside Property to R. Miah & N. Seenauth ----------------------------------------------------------------- 5303 Woodside Partners, LLC, seeks permission from the U.S. Bankruptcy Court for the Eastern District of New York, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor's primary asset consists of the real property located at 53-03 39th Avenue, Woodside, NY 11377. The Woodside Property is encumbered by a first mortgage lien held by Flagstar Bank, NA. The Debtor has entered into an agreement to sell the Woodside Property to Rajib Miah and Nalini Seenauth. The proposed sale of the Woodside Property is an arm's length transaction. The principal terms to the Contract of Sale are as follows: (i) the asset transferred consists of the Woodside Property; (ii) the purchase price is $725,000.00 to be paid as follows: $35,000.00 deposit to be paid upon entry of an Order authorizing and approving the sale, with the remaining balance of $690,000.00 to be paid at closing; (iii) the proposed sale of the Woodside Property is an arms-length transaction; and (iv) the sale of the Woodside Property is to be free and clear of liens, claims, and encumbrances. The proposed purchase price of $725,000.00 constitutes the highest and best offer received for the Woodside Property. An appraisal was done one the Woodside Property in November of 2024. The appraisal valued the Woodside Property at $680,000.00. The Woodside Property is outdated and in need of repairs. The Debtor's prospective real estate broker, Svitlana Niskoklon, listed the property for sale on MLS on February 20, 2025. The property was listed for $725,000.00. Given the amount of time that the Property has been listed for sale, the need for repairs and updates to the Woodside Property and the current market conditions; the instant offer, provides the most timely and efficient method disposing of the Woodside Property. Moreover, the Debtor does not have the time or financial resources to invest in the Property; therefore, the value of the asset/Property is decreasing in value. About 5303 Woodside Partners, LLC 5303 Woodside Partners sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 24-43602) on August 29, 2024. Judge Elizabeth S. Stong presides over the case. Joshua R Bronstein, Esq., represents the Debtor as legal counsel. ABUELO'S INTERNATIONAL: Hires Lain Faulkner & Co as Accountant -------------------------------------------------------------- Abuelo's International, L.P. and affiliates seek approval from the U.S. Bankruptcy Court for the Northern District of Texas to hire Lain, Faulkner & Co., P.C. as accountant and financial advisor. The firm will render these services: a. assist the Debtors in preparation and updates of cash forecasts and financial projections assuming various restructuring alternatives; b. assist the Debtors with assessment of potential restructuring alternatives; c. assist the Debtors in negotiations with creditors and parties in interest as requested by the Debtors; d. assist the Debtors in the analysis of tax and taxation issues and in the filing of any necessary information and compliance forms regarding taxes; and e. assist the Debtors with such other matters as may be requested to the extent that they fall within Lain Faulkner's expertise and in connection with these chapter 11 bankruptcy cases as may be required or necessary. The firm's current billing rates are: Directors $460 to $580 per hour Accounting Professionals $245 to $340 per hour IT Professionals $315 per hour Staff Accountants $205 to $285 per hour Clerical and Bookkeepers $95 to $140 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. The firm received a retainer in the amount of $55,000. Kelly McCullough, a director at Lain, Faulkner & Co., P.C., 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: Kelly McCullough Lain, Faulkner & Co., P.C. 400 North St. Paul Street # 600 Dallas, TX 75201 Phone: (214) 720-1929 About Abuelo's International L.P. Abuelo's International, L.P. operates the Abuelo's Mexican Restaurant locations, managing day-to-day restaurant operations, customer service, and loyalty programs across the U.S. Food Concepts International, L.P., headquartered in Lubbock, Texas, owns and oversees the brand, providing management, strategic direction, employee training, and menu development. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-43339) on September 2, 2025. In the petition signed by Robert L. Lin, President of ABI GP, LLC, the general partner of Abuelo's International, L.P., and as President of FC GPH, LLC LP, the general partner of Food Concepts International, the Debtor disclosed up to $50 million in assets and up to $10 million in liabilities. Judge Edward L. Morris oversees the case. Joseph F. Postnikoff, Esq., at Rochelle McCullough, LLP, represents the Debtor as legal counsel. ABUELO'S INTERNATIONAL: Taps Rochelle McCullough as Legal Counsel ----------------------------------------------------------------- Abuelo's International, L.P. and affiliates seek approval from the U.S. Bankruptcy Court for the Northern District of Texas to hire Rochelle McCullough, LLP as bankruptcy counsel. The firm's services include: a. advising the Debtors with respect to rights, powers and duties as Debtors continue to operate and manage the business of the Debtors; b. advising the Debtors concerning, and assisting in the negotiation and documentation of, agreements, debt restructuring, and related transactions; c. monitoring transactions proposed by the parties in interest during the course of this case and advising the Debtors regarding the same; d. reviewing the nature and validity of liens asserted against the property of the Debtors and advising the Debtors concerning the enforceability of such liens; e. advising the Debtors concerning the actions that might be taken to collect and to recover property for the benefit of the Debtors' estate; f. reviewing and monitoring the Debtors' ongoing business; g. preparing on behalf of the Debtors all necessary and appropriate applications, motions, pleadings, draft orders, notices and other documents, and reviewing all financial and other reports to be filed in this chapter 11 case; h. advising the Debtors concerning, and preparing responses to, applications, motions, pleadings, notices and other papers that may be filed and served in this chapter 11 case; i. advising the Debtors in connection with any suggested or proposed plan(s) of reorganization; j. counseling the Debtors in connection with the formulation, negotiation and promulgation of a plan of reorganization; and k. performing all other legal services for and on behalf of the Debtors that may be necessary or appropriate in the administration of this chapter 11 case. ROMC will be compensated based on these hourly rates: Partners $550 to $700 Associates $325 to $450 Paraprofessionals $225 The firm received a $125,000 retainer. According to court filings, Rochelle McCullough LLP is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code. The firm can be reached at: Joseph F. Postnikoff, Esq. ROCHELLE MCCULLOUGH, LLP 300 Throckmorton, Suite 520 Fort Worth, TX 76102 Telephone: (817) 347-5260 Facsimile: (817) 347-5269 Email: jpostnkoff@romclaw.com About Abuelo's International L.P. Abuelo's International, L.P. operates the Abuelo's Mexican Restaurant locations, managing day-to-day restaurant operations, customer service, and loyalty programs across the U.S. Food Concepts International, L.P., headquartered in Lubbock, Texas, owns and oversees the brand, providing management, strategic direction, employee training, and menu development. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-43339) on September 2, 2025. In the petition signed by Robert L. Lin, President of ABI GP, LLC, the general partner of Abuelo's International, L.P., and as President of FC GPH, LLC LP, the general partner of Food Concepts International, the Debtor disclosed up to $50 million in assets and up to $10 million in liabilities. Judge Edward L. Morris oversees the case. Joseph F. Postnikoff, Esq., at Rochelle McCullough, LLP, represents the Debtor as legal counsel. AIR EXPRESS: Seeks Chapter 7 Bankruptcy in Texas ------------------------------------------------ On October 1, 2025, Air Express Logistics LLC submitted a voluntary Chapter 7 bankruptcy petition in the Eastern District of Texas Bankruptcy Court. Court documents show that the firm's debts in the $0–$100,000 range, with 50–99 creditors identified in the filing. About Air Express Logistics LLC Air Express Logistics LLC provides motor vehicle transportation services. Air Express Logistics LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Tex. Case No. 25-42925) on October 1, 2025. In its petition, the Debtor reports estimated assets and liabilities up to $100,000 each. Honorable Bankruptcy Judge Brenda T. Rhoades handles the case. The Debtor is represented by Abraham C. Bloomenstiel, Esq. of Bloomenstiel P.C. ALPHA WOLF: Seeks to Hire Harris Shelton Hanover Walsh as Counsel ----------------------------------------------------------------- Alpha Wolf Leasing LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Tennessee to hire Harris Shelton Hanover Walsh, PLLC as counsel. The firm will provide these services: (a) advise the Debtor with respect to its powers and duties; (b) assist the Debtor in the preparation of its statement of financial affairs, schedules, statement of executory contracts and unexpired leases, and any papers or pleadings, or any amendments thereto that it is required to file in this case; (c) represent the Debtor in any proceeding that is instituted to reclaim property or obtain relief from the automatic stay imposed by Section 362 of the bankruptcy code or that seeks the turnover or recovery of property; (d) provide assistance, advice and representation concerning the formulation, negotiation and confirmation of a plan of reorganization; (e) provide assistance, advice and representation concerning any investigation of the assets, liabilities and financial condition of the Debtor that may be required; (f) represent the Debtor at hearings or matters pertaining to affairs; (g) prosecute and defend litigation matters and such other matters that might arise during and related to this Chapter 11 case; (h) provide counseling and representation with respect to the assumption or rejection of executory contracts and leases and other bankruptcy-related matters arising from this case; (i) represent the Debtor in matters that may arise in connection with its business operations, its financial and legal affairs, its dealings with creditors and other parties-in-interest and any other matters, which may arise during the bankruptcy case; (j) render advice with respect to the myriad of general corporate and litigation issues relating to this case; and (k) perform such other legal services as may be necessary and appropriate for the efficient and economical administration of this Chapter 11 case. The firm will be paid at these hourly rates: Steven Douglass, Attorney $450 Associates $250 Paraprofessionals $100 In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer of $25,000 from the Debtor. Mr. Douglass 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 N. Douglass, Esq. Harris Shelton Hanover Walsh, PLLC 40 S. Main Street, Suite 2210 Memphis, TN 38103 Telephone: (901) 525-1455 Email: snd@harrisshelton.com About Alpha Wolf Leasing LLC Alpha Wolf Leasing LLC is a Tennessee-based company presumably involved in leasing operations. Alpha Wolf Leasing LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tenn. Case No. 25-24265) on August 22, 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 M Ruthie Hagan handles the case. The Debtor is represented by Steven N. Douglass, Esq. at Harris Shelton, PLLC. AMERI-DENT DENTAL: Gets Extension to Access Cash Collateral ----------------------------------------------------------- Ameri-Dent Dental Laboratory, LLC received third interim approval from the U.S. Bankruptcy Court for the Middle District of Florida, Tampa Division, to use cash collateral. The third interim order signed by Judge Catherine Peek Mcewen authorized the Debtor to use cash collateral 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 subject to approval by secured creditors. As adequate protection, secured creditors including Byz Funder New York, LLC, Headway Capital, LLC and Strategic Funding Source, Inc. (doing business as Kapitus), will be granted a perfected post-petition lien on the cash collateral. These liens will have the same validity, priority and extent as the secured creditors' pre-bankruptcy liens. Moreover, the Debtor was ordered to keep its property insured as additional protection to secured creditors and to continue its monthly payments of $500 to Kapitus Servicing Inc., as authorized sub-servicing agent for Kapitus. Kapitus, as secured creditor, is represented by: J. Ryan Yant, Esq. Carlton Fields, P.A. P.O. Box 3239 Tampa, FL 33601-3239 (813) 223-7000 ryant@carltonfields.com About Ameri-Dent Dental Laboratory Ameri-Dent Dental Laboratory, LLC is a dental laboratory likely specializing in the manufacturing of dental prosthetics, appliances, and customized dental products. Ameri-Dent Dental Laboratory sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-02876) on May 2, 2025. In its petition, the Debtor reported between $10,000 and $50,000 in assets and between $100,000 and $500,000 in liabilities. Judge Catherine Peek McEwen handles the case. The Debtor is represented by James W. Elliott, Esq., at McIntyre Thanasides Bringgold, Elliott. ARIZONA STATE: Gets Final OK to Use Cash Collateral --------------------------------------------------- The U.S. Bankruptcy Court for the District of Arizona entered a final order authorizing Arizona State Masonry, LLC to use cash collateral to fund operations. The final order authorized the Debtor to use its secured creditors' cash collateral until November 7 to pay post-petition operating expenses according to its budget, subject to a 10% variance. The secured creditors include the U.S. Small Business Administration, Corporation Service Company, CT Corporation System, MCA Funding Group, PIRS Capital, LLC and First Western Trust Bank, which holds the largest claim at over $4.5 million. As adequate protection for any diminution in the value of their collateral, the secured creditors will be granted replacement liens on post-petition assets, with the same priority and extent as their pre-bankruptcy liens. In addition, SBA and First Western Trust Bank will receive payments as additional protection. Specifically, First Western Trust Bank will receive weekly payments of $9,613.42, applied to its secured claim. A copy of the court's final order and the Debtor's budget is available at https://shorturl.at/x1bZX from PacerMonitor.com. A continued hearing is scheduled for November 6. Given recent economic strain, the Debtor reports lower-than-usual receivables but anticipates that it will generate new receivables during the reorganization period that exceed the current amounts. This expected growth, combined with replacement liens and enhanced security interests in post-petition accounts, provides sufficient "adequate protection" to meet legal standards under 11 U.S.C. sections 361 and 363 for use of cash collateral, according to the Debtor. First Western Trust Bank is represented by: Christopher C. Simpson, Esq. Warren J. Stapleton, Esq. Andrew B. Haynes, Esq. Osborn Maledon, P.A. 2929 North Central Avenue, 20th Floor Phoenix, AZ 85012-2793 (602) 640-9000 csimpson@omlaw.com wstapleton@omlaw.com ahaynes@omlaw.com About Arizona State Masonry LLC Arizona State Masonry LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 2:25-bk-08405-DPC) on September 5, 2025. In the petition signed by Shannon Dean, member, the Debtor disclosed up to $10 million in assets and up to $50 million in liabilities. Judge Daniel P. Collins oversees the case. Thomas H. Allen, Esq., at Allen, Jones & Giles, PLC, represents the Debtor as legal counsel. ART OLDCO: Liquidating Trustee Taps Seese P.A. as Counsel --------------------------------------------------------- Carol Fox, as the proposed Liquidating Trustee of the ART Oldco, Inc., seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Seese P.A. as counsel to handle its Chapter 11 case. Seese has agreed to accept these rates: a. Fees: 33.33 percent of any monies recovered in respect of any monies recovered in respect of Avoidance Actions, whether through settlement, judgment or otherwise. b. Costs: he Debtors' estates will be responsible for the advancement or reimbursement of all costs incurred by Seese in connection with the prosecution of the Avoidance Actions including, without limitation, filing fee and expert fees and costs. Mr. Seese disclosed in a court filing that he and his firm are "disinterested persons" pursuant to Section 101(14) of the Bankruptcy Code. The firm can be reached at: Michael D. Seese, Esq. Seese, P.A. 101 N.E. 3rd Avenue, Suite 1500 Ft. Lauderdale, FL 33301 Tel: (954) 745-5897 Email: mseese@seeselaw.com About ART Oldco, Inc. ART Oldco, Inc. filed its voluntary petition for relief under Chapter of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 24-15483) on July 13, 2024, listing $1,000,001 to $10 million in both assets and liabilities. Judge Laurel M Isicoff presides over the case. Michael D. Seese, Esq. represents the Debtor as counsel. ASHMARK CONSTRUCTION: Claims to be Paid from Ongoing Operation -------------------------------------------------------------- Ashmark Construction, LLC, filed with the U.S. Bankruptcy Court for the Eastern District of Michigan a Subchapter V Plan of Reorganization dated September 29, 2025. The Debtor is a Michigan limited liability company formed for the purpose of providing construction project management services for the build-out of commercial properties with a primary focus on retail locations and professional office space. Ashmark's revenue is derived from fees it charges to customers for its construction project-management services net of subcontractor costs. Other than its operating cash, Ashmark has minimal assets to perform its services for clients and its value as a business is primarily held in its customer goodwill. The Debtor sought bankruptcy protection because it did not have sufficient cash or assets on hand to satisfy the Pennington Judgment and to continue to operate its business without material interruption. Ashmark determined its only options to resolving the Pennington Judgment were to file for bankruptcy protection or go out of business upon Pennington's enforcement of his judgment remedies e.g. bank account garnishments. A bank garnishment posed serious risk of wiping out all of Ashmark's operating cash and would expose its customers to the risk that, at any time, customer deposits intended for payment of subcontracted construction services could be swept for a garnishment, which would have deepened Ashmark's insolvency. Rather than face that risk, Ashmark presents this Plan which will provide payments to creditors while allowing Ashmark to continue its operations. The Debtor will fund the payment of (a) all administrative expense claims; and (b) creditor claims described in this Plan. The source of Debtor's Plan funding will be Debtor's disposable income from the ongoing operation of Debtor's business. Ashmark's financial projections show that the it will have projected disposable income in the amount of $142,243.00. The final Plan payment is expected to be paid on or about January 15, 2029. This Plan under chapter 11 subchapter V of the Bankruptcy Code proposes to pay creditors of Ashmark from its operating profits over the period of 3 years. Non-priority unsecured creditors holding allowed claims will receive pro rata distributions from a total projected disposable income of $142,243.00. If unsecured claims are deemed allowed claims in the amount that Debtor has estimated such claims, the Plan will provide creditors a distribution that amounts to approximately 28 cents on the dollar. Class 2 consists of All non-priority unsecured claims. There are two non priority unsecured creditors, Pennington and M1. Each of the creditors' claims have been listed by Debtor in its schedules as disputed, unliquidated and contingent. The unsecured creditors' claims will be deemed as disallowed and not entitled to vote on the Plan until such time that the creditors timely file their proofs of claim. If, hypothetically, the claims as scheduled were treated as allowed claims, Pennington's claim as scheduled is $222,736.46 (which is the amount of his judgment against Debtor) and M1's claim is $283,583.93, and is disputed and contingent upon the final result of arbitration and subject to setoff by Ashmark's claim against it of $276,056.38. If, hypothetically, Ashmark's claim against M1 is reduced to $0.00 and M1 is granted an arbitration award in the face amount of its demand, then the pro rata percentage allocation of Pennington's claim (if allowed) to M1's claim is as follows: 44 percent for Pennington; and 56 percent for M1. If Pennington's claim is allowed, then Ashmark will make a pro rata distribution to Pennigton on account of his claim and calculated on the hypothetical allowance of the M1 claim in its entire amount without setoff for Ashmark's claim against M1. Ashmark will make a pro rata distribution attributed to M1's claim into an escrow account that will be disbursed based on one of the following outcomes: (a) no amount will be paid to M1 if it fails to timely file its proof of claim, in such case, Debtor will seek and should be entitled to dismissal of M1's claims from arbitration however, in such event, Ashmark reserves the right to pursue its counterclaims against M1; (b) in full to M1 upon entry of an arbitration award in M1's favor and denying Ashmark's counter-claim in full; (c) in part to M1 based on a re-calculated pro-rata distribution to M1 upon entry of an arbitration award in M1's favor less any arbitration award in favor of Ashmark; or (d) no distribution will be made to M1 provided the arbitration award to Ashmark is greater than the arbitration award, if any, to M1. On the Effective Date of the Plan, the Members, will retain their membership interests in Ashmark according to their current percentage allocation of membership. Notwithstanding their retention of membership interests, all projected disposable income which would otherwise be profit of Ashmark due to its members, will instead be disbursed to Class 2 creditors for the life of the Plan. The Debtor will implement the plan by continuing its usual business operations as a construction manager. Debtor will fund the plan by dedicating its projected disposable income over a period of three years. A full-text copy of the Subchapter V Plan dated September 29, 2025 is available at https://urlcurt.com/u?l=O5365P from PacerMonitor.com at no charge. Counsel to the Debtor: Kimberly Ross Clayson, Esq. Anthony Cimini, Esq. TAFT STETTINIUS & HOLLISTER, LLP 27777 Franklin Road, Suite 2500 Southfield, MI 48034 Telephone: (248) 351-3000 Email: kclayson@taftlaw.com About Ashmark Construction LLC Ashmark Construction LLC is a commercial contractor and developer based in West Bloomfield, Michigan. The Company specializes in commercial construction and motorsport garage projects, offering turnkey solutions with a focus on quality control, scheduling, and client service. Ashmark has completed over 50 projects within private luxury garage communities, delivering customized units designed for automotive enthusiasts. Ashmark Construction LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-46693) on June 30, 2025. In its petition, the Debtor reports total assets of $1,367,166 and total liabilities of $510,887. Honorable Bankruptcy Judge Paul R. Hage handles the case. The Debtor is represented by Kimberly Ross Clayson, Esq. at Taft Stettinius & Hollister LLP. AVALON SUGAR: To Sell Hotel Assets to Royal Hotel Group for $15.2MM ------------------------------------------------------------------- Avalon Sugar Land Hospitality, LLC, seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, to sell Assets, free and clear of liens, claims, interests, and encumbrances. The Debtor has administered the Debtor's Estate for the benefit of its creditors in accordance with the Bankruptcy Code and the guidelines established by this Courts local rules and the U.S. Trustee's guidelines. The Debtor is engaged in efforts to ensure that the maximum value of the Estate's assets are realized, which efforts include pursuing the sale of all remaining Fixed assets. The Debtor engaged Hotel Advisory to market its hotel for sale. Eric Guerrero of that firm has secured an offer to purchase various of the Debtor's assets as is reflected on the Purchase and Sale Agreement. The Purchase and Sale Agreement generally provides for a purchase price of $15,260,000.00 for all Fixed Assets to be paid by Royal Hotel Group, LLC or its assigns to the Debtor for the benefit of the Debtor's Estate. The Purchase and Sale Agreement negotiations were conducted at arm's length and in good faith, and at a public auction conducted pursuant to Order of this Court. The Debtor has no connection to Royal Hotel Group, LLC and is unaware of any relationship between Royal Hotel Group, LLC and the Debtor, the Debtor's principals, or its agents. Further, there is no evidence of bad faith or a lack of good faith. In accordance with the Purchase and Sale Agreement, the Assets specifically exclude cash held at the time of the Purchase Agreement in any of the Debtor's bank accounts; the books and records used by the Debtor in the ordinary course of business, the Purchase Price for the Assets. The Debtor believes that the Purchase Price represents a fair and reasonable sales price for the Assets and represents the highest and best offer for the sale of the Assets. The Debtor is prepared to consummate the sale of the Assets to Royal Hotel Group, LLC or its assigns pursuant to the terms set forth herein and in the Purchase and Sale Agreement. About Avalon Sugar Land Hospitality LLC Avalon Sugar Land Hospitality, LLC is a single-asset real estate debtor (as defined in 11 U.S.C. Section 101(51B)) that owns the Hampton Inn in Sugar Land, Texas. Avalon Sugar Land Hospitality sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-31802) on March 31, 2025. In its petition, the Debtor reported total assets of $19,375,000 and total debts of $13,851,944. Judge Eduardo V. Rodriguez oversees the case. Richard L. Fuqua, II, Esq., at Fuqua & Associates, PC is the Debtor's legal counsel. International Bank of Commerce, as lender, is represented by Eric M. English, Esq., and Michael B. Dearman, Esq., at Porter Hedges, LLP, in Houston, Texas. AVON PRODUCTS: Trust Sues Insurers Over Talc-Related Liabilities ---------------------------------------------------------------- Emlyn Cameron of Law360 reports that a trust established during Avon's Chapter 11 bankruptcy to pay asbestos claimants is pressing a Delaware state court to require nearly 30 insurers to share responsibility for more than $225 million in talc-related liabilities. The trust claims that these insurers have either neglected their obligations or are unlikely to fulfill them. This move comes amid growing financial pressures on Avon, which has faced escalating costs from talc lawsuits and legal defense. The creation of the trust was intended to manage these obligations and ensure that claimants receive the compensation they are owed. About AIO US, Inc. AIO US Inc., Avon Products Inc. and some of its affiliates are manufacturers and marketers of beauty, fashion, and home products with operations and customers across the globe. AIO US and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 24-11836) on Aug. 12, 2024. In the petition filed by Philip J. Gund as chief restructuring officer, AIO US disclosed $1 billion to $10 billion in assets and debt. Richards, Layton & Finger, P.A. and Weil, Gotshal & Manges LLP are counsel to the Debtors. Ankura Consulting Group LLC serves as restructuring advisor to the Debtors. Rothschild & Co US Inc is the Debtors' investment banker and financial advisor. Epiq Corporate Restructuring LLC acts as claims and noticing agent to the Debtors. BACK COUNTRY: Brian Rothschild Named Subchapter V Trustee --------------------------------------------------------- The Acting U.S. Trustee for Region 19 appointed Brian Rothschild of Parsons Behle & Latimer as Subchapter V trustee for Back Country Adventure Tours, LLC. Mr. Rothschild will be paid an hourly fee of $500 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Rothschild declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Brian M. Rothschild Parsons Behle & Latimer 201 South Main Street, Suite 1800 Salt Lake City, Utah 84111 Telephone: 801.532.1234 Facsimile: 801.536.6111 Email: BRothschild@parsonsbehle.com ECF@parsonsbehle.com About Back Country Adventure Tours LLC Back Country Adventure Tours LLC, operating as Zipline Utah, is an outdoor adventure park located at Deer Creek State Park in Wallsburg, Utah that offers zipline experiences, aqua park activities, climbing walls, and seasonal recreational activities. The company provides both summer activities through its zipline courses, water recreation facilities, and climbing walls, as well as winter experiences with snowmobile tours, snow bikes, and off-road vehicle excursions. The adventure park operates from its 5566 UT-314 location in Rainbow Bay. Back Country Adventure Tours filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Utah Case No. 25-22723) on May 15, 2025. In its petition, the Debtor reports estimated assets and liabilities between $500,000 and $1 million each. JudgeÂ Kevin R. Anderson handles the case. The Debtor is represented by Roger A. Kraft, Esq. BE PLASTICS: Case Summary & 20 Largest Unsecured Creditors ---------------------------------------------------------- Debtor: BE Plastics Inc. 21 Waterway Ave Springs, TX 77380 Case No.: 25-35842 Business Description: BE Plastics Inc. is a plastics trading and recycling company based in The Woodlands, Texas, with additional operations in Cleveland, Texas. The Company supplies polymer raw materials including polyethylene (PE), polypropylene (PP), polystyrene (PS), urea, and other resins sourced from the U.S. and the Middle East to manufacturers, converters, and major brands across domestic and international markets. It offers prime and non-prime resins, off grades, regrinds, and scrap in various forms and operates a Recycling and Innovation Center that processes post-consumer recycled materials and provides PCR content resin to help clients meet environmental regulations. Chapter 11 Petition Date: October 3, 2025 Court: United States Bankruptcy Court Southern District of Texas Judge: Hon. Eduardo V Rodriguez Debtor's Counsel: Robert C. Lane, Esq. THE LANE LAW FIRM 6200 Savoy Dr Ste 1150 Houston TX 77036-3369 Tel: (713) 595-8200 Fax: (713) 595-8201 Email: notifications@lanelaw.com Total Assets: $217,204 Total Debts: $1,564,840 The petition was signed by Bilal Effendi 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/WSJUAFI/BE_Plastics_Inc__txsbke-25-35842__0001.0.pdf?mcid=tGE4TAMA BE PLASTICS: Seeks to Hire Lane Law Firm as Bankruptcy Counsel -------------------------------------------------------------- BE Plastics Inc seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire The Lane Law Firm, PLLC, as bankruptcy counsel. The firm will render these services: a. assist, advise and represent the Debtor relative to the administration of the chapter 11 case; b. assist, advise and represent the Debtor in analyzing the Debtor’s assets and liabilities, investigating the extent and validity of lien and claims, and participating in and reviewing any proposed asset sales or dispositions; c. attend meetings and negotiate with the representatives of the secured creditors; d. assist the Debtor in the preparation, analysis, and negotiation of any plan of reorganization and disclosure statement accompanying any plan of reorganization; e. take all necessary action to protect and preserve the interests of the Debtor; f. appear, as appropriate, before this Court, the Appellate Courts, and other Courts in which matters may be heard and to protect the interests of the Debtor before said Courts and the United States Trustee; and g. perform all other necessary legal services in these cases. The firm will be paid at these hourly rates: Robert Lane, Attorney $650 Joshua Gordon, Senior Associate $625 Zach Casas, Attorney $575 Kyle Garza, Attorney $450 Grant Bullwinkel, Paralegal $250 In addition, the firm will seek reimbursement for expenses incurred. The firm received multiple payments from Debtor totaling $30,000. Mr. Lane disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Robert C. Lane, Esq. The Lane Law Firm, PLLC 6200 Savoy, Suite 1150 Houston, TX 77036 Telephone: (713) 595-8200 Facsimile: (713) 595-8201 About BE Plastics Inc. BE Plastics Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-25842) on October 3, 2025, listing $100,001 to $500,000 in assets and $1,000,001 to $10 million in liabilities. Judge Eduardo V Rodriguez presides over the case. Robert C Lane, Esq. at The Lane Law Firm represents the Debtor as counsel. BEDFORD CAPITAL: Seeks to Hire Alla Kachan as Bankruptcy Counsel ---------------------------------------------------------------- Bedford Capital Lofts LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to hire the Law Offices of Alla Kachan PC as counsel. The firm will render these services: (a) assist the Debtor in administering this Chapter 11 case; (b) make such motions or take such action as may be appropriate or necessary under the Bankruptcy Code; (c) represent the Debtor in prosecuting adversary proceedings to collect assets of the estate and such actions as it deem appropriate; (d) take such steps as may be necessary for the Debtor to marshal and protect the estate's assets; (e) negotiate with the Debtor's creditors in formulating a plan of reorganization in this case; (f) draft and prosecute the confirmation of the Debtor's plan of reorganization for this case; (g) render such additional services as the Debtor may require in this case. The firm will be paid at these hourly rates: Attorney $550 Paraprofessionals $250 In addition, the firm will seek reimbursement for expenses incurred. The firm received an initial retainer of $18,000. Alla Kachan, 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: Alla Kachan, Esq. Law Offices of Alla Kachan, P.C. 2799 Coney Island Avenue, Suite 202 Brooklyn, NY 11235 Telephone: (718) 513-3145 About Bedford Capital Lofts LLC Bedford Capital Lofts LLC is a Brooklyn-based single asset real estate investment company that operates as an investment vehicle with its principal business address at 1266 36th Street in Brooklyn and its principal assets located at 2347 Bedford Avenue. Bedford Capital Lofts LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-43691) on July 31, 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 Elizabeth S. Stong handles the case. The Debtor tapped the Law Offices of Alla Kachan as counsel. BISCUIT BAR: Case Summary & 16 Unsecured Creditors -------------------------------------------------- Debtor: The Biscuit Bar LLC 5900 Balcones Drive, Suite 100 Austin, TX 78731 Business Description: The Biscuit Bar LLC, together with its subsidiaries, operates restaurant locations offering food and beverages to customers, both on-site and through its website and app, sourcing raw materials primarily from Sysco, and generating revenue mainly from prepared menu items including biscuits, sides, salads, and kids' meals. Chapter 11 Petition Date: October 2, 2025 Court: United States Bankruptcy Court Northern District of Texas Case No.: 25-33848 Judge: Hon. Scott W Everett Debtor's Counsel: Jacob J. King, Esq. MUNSCH HARDT KOPF & HARR, P.C. 500 N. Akard St., Ste. 4000 Dallas, TX 75201 Tel: (214) 855-7500 Fax: (214) 855-7584 Email: jking@munsch.com AND MICHAEL BEST & FRIEDRICH, LLP Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Jacob Burkett as managing member. A copy of the Debtor's list of 16 unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/WRLHKQI/The_Biscuit_Bar_LLC__txnbke-25-33848__0002.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/N3N7QDI/The_Biscuit_Bar_LLC__txnbke-25-33848__0001.0.pdf?mcid=tGE4TAMA BISCUIT BAR: Seeks Chapter 11 Bankruptcy in Texas ------------------------------------------------- On October 2, 2025, The Biscuit Bar LLC submitted a voluntary Chapter 11 bankruptcy filing in the Northern District of Texas. According to court records, the company holds liabilities of $1 million to $10 million. The filing indicates 1–49 creditors. About The Biscuit Bar LLC The Biscuit Bar LLC is a limited liability company. The Biscuit Bar LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-33848) on October 2, 2025. In its petition, the Debtor reports estimated assets up to $100,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Scott Ww Everett handles the case. The Debtor is represented by Jacob J. King, Esq. of Munsch Hardt Kopf & Harr, P.C. BITTREX INC: Court Affirms Disallowance of Azim Ghader's Claims --------------------------------------------------------------- In the appeal styled AZIM GHADER, Appellant, v. THE PLAN ADMINISTRATOR, Appellee, Case No. 24-cv-00686-JLH (D. Del.), Judge Jennifer L. Hall of the United States District Court for the District of Delaware affirmed the order of the United States Bankruptcy Court for the District of Delaware that sustained the objection of Bittrex, Inc.'s plan administrator to Azim Ghader's claims. From 2014 until the filing of its chapter 11 petition, Bittrex, Inc. ("BUS") operated an online cryptocurrency exchange. Azim Ghader is a cryptocurrency investor and trader who was a resident of Iran when he opened an account with Bittrex in 2017. A few months later, Bittrex learned that the screening procedures provided by a third-party vendor had failed to screen customers like Appellant who may be subject to U.S. sanctions. In June 2017, Bittrex suspended Appellant's account and any others with a nexus to Iran until Bittrex obtained a license from the Office of Foreign Assets Control to release cryptocurrencies from those accounts. Bittrex eventually obtained that license and informed customers how to withdraw their funds in compliance with the conditions of the OFAC license. Appellant did not complete the withdrawal process before the license expired. In early 2023, Bittrex announced that the Debtors would begin to wind down their operations and notified customers that they had a period of time to withdraw cryptocurrencies from the exchange. At that time, Appellant provided documents to Bittrex that appeared to establish that he resided in Turkey, and Bittrex thereafter permitted him to withdraw cryptocurrencies associated with his account. He withdrew over 99% of his assets, leaving behind certain cryptocurrency assets worth approximately $4,000. Following the Debtors' chapter 11 filing on May 8, 2023, Appellant filed claims totaling $88 million dollars, alleging lost value and damages he suffered when Bittrex suspended his account, based on a litany of contract and tort theories. Following plan confirmation, the Debtors' plan administrator objected to Appellant's claims, arguing, inter alia, that the terms of service applicable to Appellant's account: (1) barred the kind of incidental, consequential, and punitive damages Appellant sought in his claims, and (2) disclaimed liability for freezing access to customer accounts. The plan administrator further argued that Appellant could not pursue tort claims resulting from the disabling of his accounts as those claims were barred by the applicable statutes of limitation. At a final pretrial conference on Jan. 12, 2024 , Appellant proffered a new theory: that the terms of service he accepted when opening his account were void ab initio due to the OFAC sanctions and thus unenforceable. On June 4, 2024, the Bankruptcy Court issued the accompanying order, which sustained the plan administrator's claim objection, disallowed Appellant's claims for damages, limited Appellant's claims to the cryptocurrency associated with his accounts, and denied Appellant's Motion for Reconsideration. Appellant argues that the Bankruptcy Court did not address his cause of action under the Washington Consumer Protection Act, but that is not correct. As the Bankruptcy Court explained, Washington law sets the statute of limitations for a violation of the CPA at four years. The Bankruptcy Court explained that any claim under the Washington Consumer Protection Act that accrued earlier than four years before May 8, 2023 (i.e., May 8, 2019) would be untimely. The District Court agrees that, because Appellant's claims accrued at the latest, on Oct. 12, 2017, a CPA claim was time-barred. Nor does Appellant contest the Bankruptcy Court's holding that, even if he had not waived any right to consequential damages by agreeing to the Terms of Service, his proof of damages after May 8, 2020 was inadequate. Appellant elicited expert testimony from Adam Zarazinski, who opined about the maximum value of cryptocurrencies associated with Appellant's account from Oct. 11, 2017 to July 9, 2023, and from April 1, 2020 through July 9, 2023. His testimony, however, did not provide any analysis that was limited to the period after May 8, 2020. According to the District Court, because Appellant bears the burden of proof, the Bankruptcy Court correctly sustained the Claim Objection. The District Court finds the Bankruptcy Court correctly sustained the Claim Objection on the additional basis that Appellant failed to identify any duty that Bittrex owed that was independent of the 2015 and 2018 Terms of Service. Judge Hall explains, "Here, the only duty that Bittrex conceivably could have owed to Appellant arises from the Terms of Service. In any event, Appellant has not identified any other duty. Instead, he merely argues that the independent duty doctrine does not bar all tort claims where there is an underlying contract. Regardless, the independent duty doctrine bars Appellant's tort claims because he has failed to identify any basis to require Bittrex to release his funds except for the Terms of Service. Appellant has shown no error in the Bankruptcy Court's decision." A copy of the Court's Opinion is available at https://urlcurt.com/u?l=JZP92Q from PacerMonitor.com. Counsel for Appellant, Azim Ghader: Donald J. Detweiler, Esq. Womble Bond Dickinson (US) LLP 1313 North Market Street, Suite 1200 Wilmington, DE 19801 E-mail: don.detweiler@wbd-us.com Counsel for Appellee, David Maria, as Plan Administrator: Robert A. Zink, Esq. Daniel R. Koffmann, Esq. Razmig Izakelian, Esq. QUINN EMANUEL URQUHART & SULLIVAN, LLP 865 S. Figueroa St., 10th Floor Los Angeles, CA 90017 E-mail: robertzink@quinnemanuel.com danielkoffmann@quinnemanuel.com razmigizakelian@quinnemanuel.com - and - Robert S. Brady, Esq. Kenneth J. Enos, Esq. Rebecca L. Lamb, Esq. YOUNG CONAWAY STARGATT & TAYLOR, LLP 1000 North King Street Wilmington, DE 19801 E-mail: rbrady@ycst.com kenos@ycst.com About Bittrex Inc. Bittrex is a regulated digital assets exchange platform. Desolation Holdings and three of its affiliates filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Del., Lead Case No. 23-10597) on May 8, 2023. Desolation Holdings' debtor affiliates are Bittrex, Inc., Bittrex Malta Holdings Ltd. and Bittrex Malta Ltd. At the time of filing, the Debtors estimated consolidated assets of $500 million to $1 billion in assets and $500 million to $1 billion in liabilities. The Hon. Brendan Linehan Shannon presides over the cases. Quinn Emanuel Urquhart & Sullivan, LLP, led by partner Patricia B. Tomasco, is the Debtors' counsel. Berkeley Research Group, LLC, is the Debtors' restructuring advisor. Omni Agent Solutions is the claims agent. * * * The Bankruptcy Court confirmed the Debtors' Amended Joint Chapter 11 Plan of Liquidation on Oct. 31, 2023. The Plan was declared effective Nov. 15, 2023. BLH TOPCO: Sun Holdings Buys Bar Louie Out of Bankruptcy -------------------------------------------------------- Joe Guszkowski of Restaurant Business reports that Dallas-based Sun Holdings has acquired Bar Louie, a 39-unit gastropub chain, following the company's Chapter 11 bankruptcy filing. According to the report, the acquisition adds to Sun Holdings' extensive portfolio, which includes major quick-service chains like Burger King, Papa John's, Popeyes, and Arby's, as well as full-service brands such as Applebee's, IHOP, and Golden Corral. Bar Louie becomes one of four concepts fully owned by Sun, joining Taco Bueno, Freebirds World Burrito, and Uncle Julio's. Sun Holdings said the purchase strengthens its casual dining footprint and expands its brand mix. The chain filed for Chapter 11 in March, its second bankruptcy in five years, after shuttering underperforming locations in the Midwest and New Jersey. Rising operating costs and economic pressures caused a 39% decline in EBITDA in November 2024 versus the prior year, according to report. Founded in 1991 in Chicago, Bar Louie operates both company-owned and franchised restaurants. The chain reported liabilities between $50 million and $100 million, with assets ranging from $1 million to $10 million, the report states. Sun Holdings, founded in 1997, has pursued an aggressive acquisition strategy, including the 2024 purchases of Freebirds and Uncle Julio's, and now oversees over 1,800 restaurant locations across the U.S, the report relays. CEO Guillermo Perales said in a statement, "Bar Louie's unique brand and popular menu items make it a strong fit for our portfolio. This acquisition highlights our commitment to growth and delivering value for our customers and stakeholders." About BLH TopCo BLH TopCo, LLC is the operator and franchisor of locally themed, social gastrobars under the "Bar Louie" brand. Bar Louie is an upscale neighborhood bar and eatery. Established in 1991 in Chicago, Ill., BLH TopCo and its affiliates currently operate 31 locations, franchise an additional 17, and employ roughly 1,400 individuals across 19 states. Bar Louie restaurants are situated in various settings, such as lifestyle centers, conventional shopping malls, event venues, central business districts, and other unique standalone locations. BLH TopCo and its affiliates filed Chapter 11 petitions (Bankr. D. Del. Lead Case No. 25-10576) on March 26, 2025. In its petition, BLH TopCo reported between $1 million and $10 million in assets and between $50 million and $100 million in liabilities. Judge Craig T. Goldblatt handles the cases. The Debtors are represented by Thomas J. Francella, Jr., Esq., and Mark W. Eckard, Esq., attorneys at Raines Feldman Littrell, LLP. Bankruptcy Management Solutions, Inc., doing business as Stretto, serves as the Debtors' claims and noticing agent. BMX TRANSPORT: Seeks to Hire AlphaTaxPrep LLC as Tax Preparer ------------------------------------------------------------- BMX Transport LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to hire AlphaTaxPrep, LLC as tax preparers. The firm will render these services: a. prepare and file the Debtor's 2024-2025 Federal and State Tax Returns; b. propose adjusting journal entries as needed for the preparation of federal and state tax returns; c. prepare personal property tax returns, if requested, and; d. provide other tax and bookkeeping services/assistance as requested including, but not limited to, cash flow projections, assistance with improving the collection process and billing for services provided to clients, and projecting cash available for vendor payables. The firm will receive a monthly fee of $500 for its services. Elizaveta Korneeva, tax director and owner of AlphaTaxPrep, LLC, assured the court that the firm is a "disinterested person" within the meaning of 11 U.S.C. 101(14). The firm can be reached through: Elizaveta Korneeva Alphataxprep LLC 115 Pine Rise Court Alpharetta, GA 30022 Phone: (404) 859-4196 About BMX Transport LLC BMX Transport LLC provides long-distance specialized freight trucking services across the United States, focusing on goods that require unique handling or equipment. The Company offers full truckload transport using dry vans and refrigerated trailers, supported by warehousing and 24/7 logistics operations. Headquartered in Georgia, it operates a federally authorized fleet of trucks and trailers. BMX Transport LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-20705) on May 5, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge James R. Sacca handles the case. The Debtors are represented by Benjamin Keck, Esq. at KECK LEGAL, LLC. BOXLIGHT CORP: HIC 2 No Longer Owns Class A Common Shares --------------------------------------------------------- HIC 2, LLC disclosed in a Schedule 13D (Amendment No. 2) filed with the U.S. Securities and Exchange Commission that as of September 25, 2025, it no longer holds shares of Boxlight Corp's Class A Common Shares. HIC 2 has sold all remaining Common Shares and currently holds no shares but may exercise certain warrants in the Company for potential future sale. HIC 2, LLC may be reached through: Gorr Sahakian, Vice President 4000 Route 66 Tinton Falls, N.J. 07753 Tel: 732-284-0430 A full-text copy of HIC 2, LLC's SEC report is available at: https://tinyurl.com/522cc3xz About Boxlight Corp Boxlight Corporation, based in Duluth, Georgia, develops, sells, and services interactive technology solutions primarily for the education sector, with additional offerings for corporate and government clients. The Company designs, produces, and distributes interactive and non-interactive flat-panel displays, LED video walls, classroom audio systems, cameras, peripherals, STEM products, and software integrated into a classroom suite for learning, assessment, and collaboration. Boxlight sells its products through over 1,000 global reseller partners, reaching more than 1.5 million classrooms and meeting spaces in over 70 countries. In its audit report dated March 28, 2025, Forvis Mazars, LLP issued a "going concern" qualification citing that the Company has identified certain conditions relating to its outstanding debt and Series B and C Preferred Stock that are outside the control of the Company. In addition, the Company has generated recent losses. These factors, among others, raise substantial doubt regarding the Company's ability to continue as a going concern. The Company's Term Loan, which has an outstanding balance of $39.0 million as of June 30, 2025, matures on Dec. 31, 2025. As of June 30, 2025, the Company's short-term debt will mature within the six months. The Company said it is seeking to refinance its debt with new lenders but noted there is no guarantee the effort will succeed before the Term Loan matures, at which point all amounts will be due. As of June 30, 2025, the Company had cash and cash equivalents of $7.6 million, a working capital balance of ($0.5) million, and a current ratio of 0.99. Boxlight reported total assets of $99.20 million, total liabilities of $91.32 million, total mezzanine equity of $28.51 million, and a total stockholders' deficit of $20.63 million. BURGERFI INT'L: Court Orders Insurance Refund Paid to Ch.11 Trustee ------------------------------------------------------------------- Vince Sullivan of Law360 Bankruptcy Authority reports that a Delaware bankruptcy court ruled that $885,000 in refunded insurance premiums should remain with the liquidation trust established under BurgerFi International's Chapter 11 plan, concluding the funds were not part of the assets sold to TREW. The judge cited the agreement's exclusion of "unearned or refunded insurance policy premium" from the sale terms. As a result, the premiums are considered trust property and will be applied toward administrative costs before creditor distributions. About BurgerFi Int'l BurgerFi International, Inc. (NASDAQ:BFI) is a multi-brand restaurant company that develops, markets, and acquires fast casual and premium-casual dining restaurant concepts around the world, including corporate-owned stores and franchises. BurgerFi International, Inc. is the owner and franchisor of two brands with a combined 144 locations: (i) Anthony's, a premium pizza and wing brand with 51 restaurants (50 corporate-owned casual restaurant locations and one dual brand franchise location), as of Sept. 10, 2024, and (ii) BurgerFi, among the nation's fast-casual better burger concepts with 93 BurgerFi restaurants (76 franchised and 17 corporate-owned) as of Sept. 10, 2024. BurgerFi International, Inc., and 114 affiliated debtors filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code on Sept. 11, 2024 (Bankr. D. Del. Lead Case No. 24-12017). The cases are pending before the Honorable Judge Craig T. Goldblatt. Raines Feldman Littrell LLP serves as the Debtors' counsel. Force Ten Partners' Jeremy Rosenthal serves as the Company's Chief Restructuring Officer. Sitrick And Company serves as strategic communications advisor to the Company. Stretto is the claims agent. CALDWELL HOLDINGS: Hires Rountree Leitman Klein & Geer as Attorney ------------------------------------------------------------------ Caldwell Holdings, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to hire Rountree, Leitman, Klein & Geer, LLC as its attorneys. The firm's services include: a. giving the Debtor legal advice with respect to its powers and duties as Debtor-in-Possession in the management of its property; b. preparing on behalf of the Debtor as Debtor-in-Possession necessary schedules, applications, motions, answers, orders, reports and other legal matters; c. assisting in examination of the claims of creditors; d. assisting with formulation and preparation of the disclosure statement and plan of reorganization and with the confirmation and consummation thereof; and e. performing all other legal services for the Debtor as Debtor-in-Possession that may be necessary. The firm's hourly rates: Attorney: William A. Rountree $595 Will B. Geer $595 Michael Bargar $535 Hal Leitman $425 William Matthews $425 David S. Klein $495 Elizabeth Childers $395 Ceci Christy $425 Caitlyn Powers $375 Shawn Eisenberg $300 Paralegals: Dorothy Sideris $200 Elizabeth Miller $290 Megan Winokur $175 Legal Assistants $150 Law Clerk $200 The firm received from Debtor a pre-petition retainer of $35,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Mr. Greer 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: Will B. Geer, Esq. ROUNTREE LEITMAN KLEIN & GEER, LLC Century Plaza I 2987 Clairmont Road, Suite 350 Atlanta, GA 30329 Telephone: (404) 584-1238 Email: emiller@rlkglaw.com About Caldwell Holdings, LLC Caldwell Holdings, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-41374) on September 10, 2025, listing between $100,001 and $500,000 in assets and between $1 million and $10 million in liabilities. Will B. Geer, Esq., at Rountree Leitman Klein & Geer, LLC represents the Debtor as legal counsel. CAPITAL DISTRICT: Francis Brennan Named Subchapter V Trustee ------------------------------------------------------------ The U.S. Trustee for Region 2 appointed Francis Brennan, Esq., at Whiteman Osterman & Hanna, LLP as Subchapter V trustee for Capital District Interventional Spine & Rehabilitation, PLLC. Mr. Brennan will be paid an hourly fee of $480 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Brennan declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Francis Brennan, Esq. Whiteman Osterman & Hanna LLP 80 State Street, 11th Floor Albany, NY 12207 Phone: (518) 487-7600 Email: fbrennan@woh.com About Capital District Interventional Spine Capital District Interventional Spine & Rehabilitation, PLLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D.N.Y. Case No. 25-11140) on September 30, 2025, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Michael Leo Boyle, Esq., at Boyle Legal, LLC represents the Debtor as bankruptcy counsel. CAREERBUILDER + MONSTER: Chapter 11 Plan Gets Court Approval ------------------------------------------------------------ Ben Zigterman of Law360 reports that CareerBuilder + Monster's Chapter 11 restructuring plan won approval Tuesday, October 7, 2025, from a Delaware bankruptcy judge following a settlement that paves the way for potential recoveries by unsecured creditors. The plan authorizes the sale of the company’s assets under court oversight, with proceeds allocated to creditors in accordance with the reorganization terms. Filings show unsecured creditors could recover as much as $3 million, or up to 10% of the amounts owed, the report states. The Troubled Company Reporter, citing Alex Wittenberg of Law360 Bankruptcy Authority, previously reported that on Sept. 3, 2025, a Delaware bankruptcy judge authorized CareerBuilder + Monster to send its Chapter 11 plan to creditors for a vote, following a deal aimed at boosting recoveries for unsecured creditors. About CareerBuilder + Monster Venture About Zen JV LLC Zen JV, LLC, operates online employment platforms and related digital media services through brands such as CareerBuilder, Monster, Fastweb, and Military.com. The Company also provides human capital software solutions to government agencies via Monster Government Services. On June 24, 2025, Zen JV, LLC and 9 affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case No. 25-11195) with deals to sell key assets to three parties. Latham & Watkins LLP and Richards, Layton & Finger, P.A., are counsel to the Debtors. AlixPartners, LLP, is the Debtors' financial advisor, and PJT Partners LP is the investment banker. Omni Agent Solutions is the claims agent. Duane Morris LLP is advising buyer JobGet. Stoel Rives LLP is advising purchaser Valnet. Proskauer Rose LLP is advising purchaser Valsoft. CARIBBEAN CRESCENT: Hires Steven H. Greenfeld as Legal Counsel -------------------------------------------------------------- Caribbean Crescent, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Maryland to hire the Law Offices of Steven H. Greenfeld, LLC as bankruptcy counsel. The firm's services include: (a) advise the Debtor with respect to its powers and duties in the continued operation of its business and management of its property; (b) prepare on behalf of Debtor necessary legal papers; and (c) perform all other legal services for the Debtor which may be necessary herein. Steven Greenfeld, Esq., the primary attorney in this representation, will be paid at his hourly rate of $495. Mr. Greenfeld 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 H. Greenfeld, Esq. Law Office of Steven H. Greenfeld, LLC 325 Ellington Boulevard, A#620 Gaithersburg, MD 20878 Telephone: (301) 881-8300 Email: Steveng@cohenbaldinger.com About Caribbean Crescent, Inc. Caribbean Crescent, Inc., doing business as Quality Ethnic Foods, produces and distributes halal-certified ethnic foods from its facility in Baltimore, Maryland, including Jamaican-style beef patties, Dhal Puri Roti, pepperoni, franks, and gyro. Caribbean Crescent, Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Md. Case No. 25-19065) on September 30, 2025, listing $5,559,016 in liabilities. The petition was signed by Shah Rahman as president. Judge Michelle M Harner presides over the case. Steven H Greenfeld, Esq. at LAW OFFICE OF STEVEN H. GREENFELD represents the Debtor as counsel. CARING FOR YOU: No Resident Complaints, 3rd PCO Report Says ----------------------------------------------------------- Amanda Celentano, the patient care ombudsman, filed with the U.S. Bankruptcy Court for the District of Maryland her third report regarding the quality of patient care provided by Caring For You Assisted Living, LLC. On September 30, the local ombudsman made a visit to Caring For You V (1232 Walters Avenue, Baltimore). The ombudsman spoke with three out of four residents that were in the building at the time. While some concerns were shared with the ombudsman regarding food and finances, no consent was given to share or investigate. The local ombudsman made a visit to Caring for You IV (3304 Dudley Avenue, Baltimore on September 24. Staff informed the ombudsman that the census at the time was three and that one resident was currently away at a day program. The ombudsman spoke with the two residents onsite and they expressed satisfaction and contentment. On September 24, the local ombudsman made a visit to Caring for You II (2928 Edison Highway). The ombudsman spoke with each resident individually and each expressed satisfaction and no concerns. Flies were observed around the front door, but no other environmental concerns were noted. About Caring For You Assisted Living Caring For You Assisted Living, LLC is a healthcare provider operating multiple assisted living facilities in Baltimore, Maryland. Caring For You Assisted Living sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Md. Case No. 25-13464) on April 18, 2025. In its petition, the Debtor reported between $100,000 and $500,000 in assets and liabilities. Judge David E. Rice oversees the case. The Debtor is represented by Aryeh E. Stein, Esq. at Meridian Law, LLC. Amanda Celentano is the patient care ombudsman appointed in the Debtor's case. CASEY'S POND: Community Initiative Saves It from Receivership ------------------------------------------------------------- Kathleen Steele Gaivin of McKnights Senior Living reports that a year after local donors united to rescue Casey's Pond Senior Living Community from receivership, the Steamboat Springs, Colorado, continuing care retirement community is flourishing once more, according to its nonprofit owner, Northwest Colorado Health. The organization said the community's revival reflects the power of local collaboration and commitment to supporting older adults in the Yampa Valley, according to the report. Casey's Pond was placed into receivership in July 2024 after failing to pay off millions of dollars in bonds issued to finance its 2013 construction and being unable to find a buyer. Then managed by Cappella Living Solutions, the community faced possible closure before local supporters stepped in to stabilize operations and secure its future, according to McKnights Senior Living. The Yampa Valley Community Foundation led the effort to save the facility, launching a "quiet fundraising campaign" that rallied donors, board members, and community advocates. Foundation CEO Tim Wohlgenant described the effort as "truly miraculous," citing the swift and generous response. "We are so grateful for the support our community provided in helping save Casey's Pond," Northwest Colorado Health CEO Stephanie Einfeld said. "Casey's Pond is not just surviving -- it is thriving thanks to our staff, residents, and the generosity of this community." Today, Casey's Pond reports a waitlist for both independent and assisted living units -- a significant turnaround from its financial struggles a year ago, 2024. Northwest Colorado Health said the demand highlights the community's long-term stability and its essential role in providing quality housing and healthcare to Yampa Valley seniors who want to remain close to home. The organization also operates The Haven Assisted Living in Hayden, which has similarly reached full occupancy, according to report. Looking ahead, Northwest Colorado Health plans to launch a three-year, $3 million fundraising campaign to meet the needs of the region's growing senior population. The funds will help sustain and expand home health and hospice programs that allow older residents to stay in the Yampa Valley. "We know there is more work to be done," Einfeld said. "Home health and hospice are critical services in this region. When Casey's Pond and The Haven are full, these programs ensure that our residents can remain at home rather than seek care in Denver or Grand Junction." About Casey's Pond Senior Living Community Casey's Pond Senior Living Community is a continuing care retirement community in Steamboat Springs, Colorado. CINEMEX HOLDINGS: Bankruptcy Exit Plan Sparks Landlord Opposition ----------------------------------------------------------------- Alex Wolf of Bloomberg Law reports that Cinemex Holdings USA, the operator of CMX Cinemas, is facing opposition from a Minnesota theater owner, who claims the company's bankruptcy reorganization plan does not provide sufficient creditor protections. In a filing Monday, October 6, 2025, with the U.S. Bankruptcy Court for the Southern District of Florida, MN Theaters 2006 LLC said the small business restructuring plan -- CMX's second bankruptcy in five years -- reinstates parent company equity despite failing to guarantee proper payments to creditors. About Cinemex Holdings USA Cinemex Holdings USA, Inc. is a holding company for cinema operations including CMX Cinema. Cinemex Holdings and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-17559) on June 30, 2025. In its petition, Cinemex Holdings disclosed under $50,000 in both assets and liabilities. Judge Laurel M. Isicoff handles the cases. The Debtors tapped Quinn Emanuel Urquhart & Sullivan LLP as counsel and GlassRatner Advisory & Capital Group LLC as financial advisor. CLAIRE'S STORES CANADA: Gets CCAA Initial Stay Order ---------------------------------------------------- The Ontario Superior Court of Justice (Commercial List) ("Court") made an order ("Initial Order) (Court File No. CV-25-00748871-00CL) granting Claire's Stores Canada Corp. ("Company") relief pursuant to the Companies' Creditors Arrangement Act ("CCAA"). Pursuant to the Initial Order, KSV Restructuring Inc. was appointed as monitor, and certain of the Company's U.S. affiliates commenced voluntary proceedings under Chapter 11 of Title 11 of the United States Code before the United States Bankruptcy Court for the District of Delaware. The Company said it is not a party to the Chapter 11 Proceedings. The Company intends to use the protection afforded by the CCAA to engage with its principal stakeholders and advance a process to address its financial circumstances and maximize value. Currently, the Company expects to conduct an orderly liquidation of its remaining inventory at certain or all of its store locations, with the assistance of a third-party liquidator, and to vacate those premises, while continuing to explore restructuring alternatives. Relevant information regarding the CCAA proceedings, including a copy of the Initial Order, is available on the Monitor's case website at: https://www.ksvadvisory.com/experience/case/claires. The Monitor will also post on its website any orders issued at the Comeback Hearing, as well as other public materials filed with the Court or orders granted in these proceedings. To date, no claims procedure has been sought or approved by the Court and creditors are not required to file a proof of claim at this time. If and when a claims procedure is approved by the Court, further details and claim forms will be posted to the Monitor's website. If you have any questions in respect of the foregoing or require further information, please consult the Monitor's case website linked above. The Monitor can also be contacted by email at claires@ksvadvisory.com or by telephone at 1-844-249-2665. The Monitor can be reached at: KSV Restructuring Inc. 220 Bay Street, 13th Floor Toronto, Ontario M5J 2W4 Noah Goldstein Tel: 416-932-6207 Email: ngoldstein@ksvadvisory.com Mitch Vininsky Tel: 416-932-6013 Email: mvininsky@ksvadvisory.com Dean Perlman Tel: 437-888-9842 Email: dperlman@ksvadvisory.com Lawyers for the Monitor: Goodmans LLP Bay Adelaide Centre - West Tower 333 Bay Street Suite 3400 Toronto, Ontario M5H 2S7 Brendan O'Neill Tel: 416-849-6017 Email: boneill@goodmans.ca Chris Armstrong Tel: 416-849-6013 Email: carmstrong@goodmans.ca Josh Sloan Tel: 416-597-4127 Email: jsloan@goodmans.ca Lawyers for the Company: Osler, Hoskin & Harcourt LLP 1 First Canadian Place 100 King Street West Suite 6200 Toronto, Ontario M5X 1B8 Marc Wasserman Tel: 416-862-4908 Email: mwasserman@osler.com Shawn Irving Tel: 416-862-6485 Email: sirving@osler.com Sean Stidwill Tel: 416-862-4217 Email: sstidwill@osler.com Andrew Rintoul Tel: 416-862-5963 Email: arintoul@osler.com US Lawyers to the Company: Kirkland & Ellis LLP 601 Lexington Avenue New York, New York 10022 Allyson B. Smith Tel: 212-909-3217 Email: allyson.smith@kirkland.com Rob Jacobson Tel: 312-862-4114 Email: rob.jacobson@kirkland.com Restructuring Advisor to Company: Alvarez & Marsal Canada Inc. Royal Bank Plaza South Tower 200 Bay Street Suite 3501 Toronto, Ontario M5J 2J1 Al Hutchens Tel: 416-847-5161 Email: ahutchens@alvarezandmarsal.com Steven Glustein Tel: 416-847-5173 Email: sglustein@alvarezandmarsal.com Claire's Stores Canada Corp. operates a retail business in Canada which sells jewelry and fashion accessories and offers ear-piercing services for tweens, teens and young girls. The Company is the sole Canadian operating subsidiary of Claire's Stores Inc. COLLABORATION SOFTWARE: Seeks Subchapter V Bankruptcy in Georgia ---------------------------------------------------------------- On October 3, 2025, Collaboration Software Partners LLC filed Chapter 11 protection in the Northern District of Georgia. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Collaboration Software Partners LLC Collaboration Software Partners LLC provides cloud-based human capital management (HCM)and workforce management solutions, delivering integrated technology platforms alongside implementation, training, and client support services. The Company partners with providers such as UKG, Everything Benefits, MasterTax, NatPay, Spentra, HireCredit, and Nephele Consulting Services to offer a unified suite that addresses workforce and HR challenges. It operates in the HCM and workforce management sector, focusing on seamless deployment, integration, and ongoing client support. Collaboration Software Partners LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-21412) on October 3, 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 Leah Fiorenza McNeill, Esq. of ALSTON & BIRD LLP. COMPLEMAR PARTNERS: Hires Dorset Partners LLC as Investment Banker ------------------------------------------------------------------ Complemar Partners Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the Western District of New York to hire Dorset Partners, LLC as investment banker. The firm's services include: a. preparing a comprehensive asset sale service program and will act as manager of the sale process as well as advisor for the Debtors evaluating the businesses, operations and financial positions of the Debtors; b. meeting with the Debtors to review sale objectives and strategies, and develop and implement recommended marketing plans and programs to attract prospective buyers; c. soliciting prospective purchasers or their advisors directly or through affiliated offices, and qualify, to their satisfaction, the financial capacity and strategic rationale of responding buyers; d. communicating and cooperating with qualified buyers or their agents in the review of all due diligence materials; e. assisting the Debtors in communications and negotiations of letters of intent, asset purchase agreements, and bid submissions; f. coordinating the auction process in accordance with procedures approved by the Court; g. facilitating management presentations, site visits, and due diligence activities necessary for buyer evaluation; h. preparing and submitting required court filings and sale documentation; and i. assisting the Debtors and their other advisors through the closing process; and advising the Debtors on other matters that may arrive from time to time during the term of the Engagement Agreement. Dorset has agreed to accept a retainer fee of $10,000. In addition to the Retainer, Dorset shall be entitled to a transaction fee in the amount of 5 percent of the transaction value. As disclosed in the court filings, Dorset is a "disinterested person" as that term is defined in section 101(14) of the Bankruptcy Code, as modified by section 1107, and does not hold or represent an interest adverse to the Debtors' estates. The firm can be reached through: Jeff Sands Dorset Partners, LLC 100 Park Ave. 16th Floor New York, NY 10017 Phone: (212) 984-1098 Email: Info@DorsetPartners.com About Complemar Partners Inc. Complemar Partners, Inc. provides fulfillment, co-packing and kitting, and returns management services, leveraging technology and integrated solutions to support supply chain operations. Headquartered in Rochester, New York, the Debtor operates over 400,000 square feet of warehouse space, handling more than 680 million items annually and serving over 1,000 customers across more than 30 countries. It serves clients in e-commerce, health and beauty, subscription boxes, telecom, and wine and spirits industries. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. N.Y. Case No. 25-20610) on August 28, 2025, listing between $10 million and $50 million in assets and liabilities. David Van Rossum, chief executive officer, signed the petition. Judge Warren oversees the case. Sara C. Temes, Esq., at Bond, Schoeneck & King PLLC, represents the Debtor as legal counsel. COTIVITI INC: Moody's Affirms 'B2' CFR & Alters Outlook to Stable ----------------------------------------------------------------- Moody's Ratings affirmed Cotiviti, Inc.'s (Cotiviti) B2 corporate family rating and B2-PD probability of default rating. Moody's also affirmed the company's backed senior secured bank credit facilities at B2. The facilities consist of a $2 billion term loan due 2032, $4.197 billion term loan due 2031, $750 million 7.625% fixed-rate term loan due 2031, and $600 million revolver expiring in 2029. The outlook has been changed to stable from negative. Cotiviti is a provider of healthcare data analytics and services to healthcare payers and providers. The affirmation of the B2 CFR and change in the outlook to stable from negative reflects Moody's revised expectations for better revenue and earnings in 2025 following Cotiviti's acquisition of Edifecs in February 2025 and the amended sources and uses for the transaction that resulted in a stronger cash balance. Moody's now expects that the company's debt/EBITDA should approach 6x by the end of 2025 while Cotiviti maintains a good liquidity profile supported by $445 million of cash at June 30, 2025 and Moody's anticipations for free cash flow in excess of $200 million this year. RATINGS RATIONALE Cotiviti's B2 CFR reflects the company's high financial leverage with debt/EBITDA of 6.6x for the twelve months ended June 30, 2025. The company has an aggressive financial policy with respect to the use of debt for acquisitions, as evidenced by the Edifecs acquisition that increased financial leverage to the high-6x range, and potential shareholder returns. Nonetheless, Moody's forecasts the company will reduce debt/EBITDA through strong organic revenue growth rates in a high single-digit percentage range while maintaining strong profitability rates. The company also has around $30 million in net cost savings achievable by 2027 that will improve profitability if fully realized. All financial metrics cited reflect Moody's standard adjustments. The B2 CFR is supported by the company's strong market position as a healthcare payment technology and solutions platform to healthcare payers and providers. Moody's anticipates Cotiviti's large revenue scale in pre- and post- medical-claims-accuracy solutions will experience tail winds from higher claim volumes due to the aging US population and related increased enrollment volumes in Medicare Advantage plans by seniors. Near term support for revenue growth should also come in the second half of 2025 from normal seasonality in healthcare usage volumes. Cotiviti has a good size by revenue, strong EBITDA margins, long tenured customers and high customer retention rates estimated at 99% that are supported by good barriers to entry, including proprietary algorithms and entrenching/interfacing technology with customer platforms. Moody's considers the healthcare payments integrity market to be highly competitive and includes large players with significant financial resources. While customer concentration is high, Moody's recognizes that nearly half of people in the US are insured by five insurers, making customer concentration a consequence of the industry concentration. Moreover, the largest clients tend to remain for over a decade, with each of them typically having numerous, discrete contracts outstanding, with multiple end-dates. Cotiviti has a good liquidity profile, supported by $445 million of cash at June 30, 2025 and Moody's expectations for free cash flow of around $275 million in 2026, as well as the undrawn $600 million revolver expiring in 2029. The revolver is subject to a maximum 10x net first lien leverage covenant when revolver utilization is at least 50%. Moody's expects that the company would remain well in compliance with the covenant if it is tested over the next 12 to 15 months. The B2 senior secured credit facilities rating is the same as the B2 CFR given the facilities represent the preponderance of the company's debt. The credit facility has a first priority security interest in substantially all assets of the borrower and guarantors. The stable rating outlook reflects Moody's expectations that Cotiviti will sustain organic revenue in a high single-digit range and debt/EBITDA below 6x, and generate about $275 million of free cash flow in 2026. The outlook also anticipates that Cotiviti will maintain an acquisitive growth strategy that may be funded using incremental debt, but Moody's expects the company would manage its long-term debt/EBITDA below 6.5x. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded if debt/EBITDA is sustained around 5x, EBITDA less capex to interest approaches 2x and free cash flow as a percentage of debt is sustained in the high single-digits. Improved governance, including a greater emphasis on independent directors, and adherence to balanced financial policies would also support a ratings upgrade. A ratings downgrade could result if revenue or profitability rates decline, or if Moody's anticipates debt/EBITDA will be sustained above 6.5x, EBITDA less capital expenditures to interest will remain below 1.25x, or lower free cash flow. The principal methodology used in these ratings was Business and Consumer Services published in November 2021. 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. Cotiviti, Inc., headquartered in South Jordan, Utah, is a privately held company co-owned by financial sponsors KKR and Veritas. The company specializes in providing data analytics and services to healthcare payers and providers, focusing on improving claims payment accuracy, reducing medical and administrative costs, and enhancing operational efficiency. Cotiviti's services also include data management and recovery audit services for the retail sector. The company serves the top 25 US healthcare payers and most of the top 10 US retailers. Cotiviti is expected to generate approximately $2.2 billion in revenue in 2025. CPW CORP: Seeks Approval to Hire Grenier Lender as Accountant ------------------------------------------------------------- CPW Corp. seeks approval from the U.S. Bankruptcy Court for the District of Connecticut to hire Grenier Lender, LLP as its accountant. The firm's services include: a. preparing federal and state income and other tax returns for 2024 and 2025; and b. bookkeeping and sales tax for 2025. Grenier will charge for its accounting services a flat rate of $750 per month. Grenier Lender, LLP is a "disinterested person" within the meaning of 11 U.S.C. Section 101(14), according to court filings. The firm can be reached through: Joanna M. Kornafel Grenier Lender, LLP 107 Mill Plain Road, Ste 205 Danbury, CT 06811 Phone: (203) 778-8340 Fax: (203) 900-0688 Email: jkornafel@gs-lawfirm.com About CPW Corp. CPW Corp. operates in the restaurants industry. CPW Corp. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Conn. Case No. 25-20930) on September 4, 2025. In its petition, the Debtor reported up to $100,000 in assets and between $100,001 and $1 million in liabilities. The Debtor is represented by Jeffrey M. Sklarz, Esq., at Green & Sklarz, LLC. CPW CORP: Seeks to Hire Green & Sklarz as Bankruptcy Counsel ------------------------------------------------------------ CPW Corp. seeks approval from the U.S. Bankruptcy Court for the District of Connecticut to hire Green & Sklarz LLC as its general bankruptcy counsel. The firm's services include: a. advising the Debtor of its rights, powers and duties as debtor and debtor-in-possession; b. advising and assisting the Debtor with respect to 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 on behalf of the Debtor 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; f. advising the Debtor concerning, and preparing responses to, applications, motions, pleadings, notices, and other papers which may 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 for the Debtor that will be necessary or appropriate in administration of this Chapter 11 case. The firm will be paid at these hourly rates: Jeffrey M. Sklarz $600 Joanna M. Kornafel $425 Michelle A. Antao $350 In addition, the firm will seek reimbursement for expenses incurred. Mr. Sklarz disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Jeffrey M. Sklarz, Esq. Joanna M. Kornafel, Esq. Michelle A. Antao, Esq. Green & Sklarz, LLC One Audubon St., 3rd Floor New Haven, CT 06511 Phone: (203) 285-8545 Fax: (203) 823-4546 Email: jsklarz@gs-lawfirm.com Email: jkornafel@gs-lawfirm.com Email: mantao@gs-lawfirm.com About CPW Corp. CPW Corp. operates in the restaurants industry. CPW Corp. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Conn. Case No. 25-20930) on September 4, 2025. In its petition, the Debtor reported up to $100,000 in assets and between $100,001 and $1 million in liabilities. The Debtor is represented by Jeffrey M. Sklarz, Esq., at Green & Sklarz, LLC. CPW CORP: Seeks to Hire Holth & Kollman as Special Counsel ---------------------------------------------------------- CPW Corp. seeks approval from the U.S. Bankruptcy Court for the District of Connecticut to hire Holth & Kollman, LLC as its special counsel. CPW Corp. will continue to represent the Debtor to provide corporate transactional work and, to the extent necessary, in litigation on matters not related to the above captioned bankruptcy case. The firm's current hourly rates are: Thor Holth $350 Attorneys $350 Admin Staff $175 As disclosed in the court filings, Holth & Kollman does not hold an adverse interest with respect to the Debtors, its estates or any creditors, and are disinterested within the meaning of 11 U.S.C. Secs. 101(14) and 327(e). The firm can be reached through: Thor Holth, Esq. Holth & Kollman, LLC 58 Huntington St New London, CT 06320 Phone: (860) 891-6320 About CPW Corp. CPW Corp. operates in the restaurants industry. CPW Corp. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Conn. Case No. 25-20930) on September 4, 2025. In its petition, the Debtor reported up to $100,000 in assets and between $100,001 and $1 million in liabilities. The Debtor is represented by Jeffrey M. Sklarz, Esq., at Green & Sklarz, LLC. DATAVAULT INC: Secures Multi-Million IBM Commitment of Resources ---------------------------------------------------------------- Datavault AI Inc. announced that International Business Machines Corporation (NYSE: IBM) has made a multi-million-dollar commitment of resources. IBM's commitment will allocate engineering, technical sales and quantum computing expertise to support the continued growth of Datavault AI's platform build and go-to-market initiatives. The Company believes the expanded collaboration will harness IBM's deep bench of technical resources to accelerate Datavault AI's product roadmap, integrate cutting-edge capabilities from watsonx.ai and watsonx.governance, and scale adoption across enterprise and institutional markets. Biz Dziarmaga, Head of Americas AI Partnerships at IBM, commented, "Bringing our resources to support Datavault's mission will help drive the data monetization of which companies of all sizes can take advantage. Leveraging IBM's platforms with Datavault's innovations presents a compelling value proposition to customers worldwide. Enterprises are increasingly seeking new revenue streams, and our AI-driven platform with Datavault AI helps to provide a scalable path to data monetization." According to McKinsey & Company, generative AI is projected to add between $2.6 trillion and $4.4 trillion revenue annually1 across key business applications, making AI-driven automation one of the most significant investment frontiers in enterprise technology. Nathaniel T. Bradley, Chief Executive Officer of Datavault AI, commented, " We are honored by IBM's trust and investment in Datavault AI, and we will meet that commitment with extensive quality assurance and precision delivery of our patented solutions worldwide. We believe this partnership positions Datavault AI as the preeminent leader in valuing and scoring data assets on behalf of our customers through our patented platform." About Datavault AI Datavault AI Inc., headquartered in Beaverton, Oregon, develops and licenses patented platforms for AI-driven data management, valuation, and monetization. The Company offers cloud-based Web 3.0 solutions incorporating high-performance computing, generative AI agents, and secure data utilities. Datavault AI operates in the data technology and software licensing industry, providing tools for enterprise-grade data solutions focused on privacy and cybersecurity. BPM LLP's audit report dated March 31, 2025, included a "going concern" qualification, noting that the Company's ongoing operational losses, net capital deficiency, and cash flow situation cast significant doubt on its ability to continue operating. Management of the Company intends to raise additional funds through the issuance of equity securities or debt. There can be no assurance that, in the event the Company requires additional financing, such financing will be available at terms acceptable to the Company, if at all. Failure to generate sufficient cash flows from operations, raise additional capital and reduce discretionary spending could have a material adverse effect on the Company's ability to achieve its intended business objectives. As of June 30, 2025, the Company had $120.69 million in total assets, $46.62 million in total liabilities, and $74.07 million in total stockholders' equity. Cash and cash equivalents as of June 30, 2025 were $0.7 million compared to $3.3 million, as of Dec. 31, 2024. The Company recorded a net loss of $37.1 million and $46.7 million for the three and six months ended June 30, 2025 and used net cash in operating activities of $12.8 million for the six months ended June 30, 2025 vs $9.0 million for the six months ended June 30, 2024. Excluding non-cash adjustments, the primary reasons for the increase in the use of net cash from operating activities during the six months ended June 30, 2025, was related to an increase in the net loss. DECKER & WILLIAMS: Case Summary & Four Unsecured Creditors ---------------------------------------------------------- Debtor: Decker & Williams, LLC 6159 Blue Haven Way Clinton, WA 98236 Business Description: Decker & Williams, LLC is a Mukilteo, Washington–based real estate company that owns a single property at 202 Lincoln Ave., valued at approximately $1.6 million. Chapter 11 Petition Date: October 2, 2025 Court: United States Bankruptcy Court Eastern District of Washington Case No.: 25-01750 Debtor's Counsel: Lesley D. Bohleber, Esq. BUSH KORNFELD LLP 601 Union St., Suite 5000 Seattle, WA 98101-2373 Tel: 206-292-2110 Fax: 206-292-2104 Email: lbohleber@bskd.com Total Assets: $1,838,494 Total Liabilities: $18,055,382 The petition was signed by Jason P. Decker as manager. A full-text copy of the petition, which includes a list of the Debtor's four unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/AFDA4IA/Decker__Williams_LLC__waebke-25-01750__0001.0.pdf?mcid=tGE4TAMA DERMOT CAWLEY: Cooper & Elliott, et al. Lose Bid to Transfer Case ----------------------------------------------------------------- Judge Edmund A. Sargus, Jr. of the United States District Court for the Southern District of Ohio denied as moot the amended motion filed by Cooper & Elliott, LLC, Rex H. Elliott, Barton R. Keyes, and Sean R. Alto to transfer the adversary proceeding captioned as DERMOT MARTIN CAWLEY, et al., Plaintiffs, v. COOPER & ELLIOTT, LLC, et al., Defendants, Case No. 2:24-cv-4138 (S.D. Ohio). In June 2024, Dermot Martin Cawley and his two companies filed an adversary proceeding in Debtor's Chapter 11, subchapter V bankruptcy in the United States Bankruptcy Court for the Middle District of Florida Plaintiffs brought the litigation against Cooper & Elliott, LLC, a law firm doing business in Columbus, Ohio, and three of the firm's attorneys, alleging legal malpractice, professional negligence, and breach of fiduciary duty. Plaintiffs request damages over $35 million. In late July 2024, Defendants filed a motion in the Florida Bankruptcy Court entitled: "Motion (1) to Determine Bankruptcy Court's Authority to Enter Final Orders or Judgments; and (2) for Withdrawal of this Proceeding to the District Court; and/or (3) Dismissal as to Non-Debtor Plaintiffs; and/or (4) to Dismiss Pursuant to Forum Non Conveniens Doctrine; Alternatively (5) transfer of the Proceeding to Ohio; and Demand for a Jury Trial." A few weeks later in August 2024, Defendants filed an amended motion entitled: "Motion (1) to Determine Bankruptcy Court's Authority to Enter Final Orders or Judgments; (2) for Withdrawal of this Proceeding to the District Court; (3) Dismissal as to the Claims of Non-Debtor Plaintiffs; (4) to Dismiss Pursuant to Forum Non Conveniens Doctrine; (5) to Dismiss for Lack of Personal Jurisdiction; Alternatively, (6) Transfer of the Proceeding to Ohio." But then, on Oct. 14, 2024, proceeding in the Florida Bankruptcy Court, the parties filed an agreed motion explaining that they agreed the matter may be transferred to the United States District Court for the Southern District of Ohio so long as Defendants withdraw their pending Motions, waive any objections to personal and subject matter jurisdiction in the Southern District of Ohio, as well any objections related to service of process, provided this Adversary Proceeding is transferred to the United States District Court for the Southern District of Ohio (Columbus), and comply with other discovery schedule deadlines the parties proposed. The Florida Bankruptcy Court granted that Agreed Motion. The docket indicates that the nature of the suit is a bankruptcy withdrawal and that the Amended Motion is pending, but neither is accurate. Judge Sargus explains, "Here, it appears the parties attempted to bypass that step through their Agreed Motion. Neither the Agreed Motion nor Agreed Order cited to what statute or statutes was or were relied on to withdraw the reference from the Florida Bankruptcy Court and simultaneously transfer the case to this Court, the United States District Court for the Southern District of Ohio. Nor does anything on the record indicate whether permissive or mandatory withdrawal applied." The parties also included language in their Agreed Motion that Defendants waived any objections to subject matter jurisdiction in the Southern District of Ohio. The record before the District Court does not make clear if or why this Court has subject matter jurisdiction over this lawsuit. The Court may have jurisdiction, but there are no allegations in the complaint on the docket describing such jurisdiction. It is Plaintiffs' burden to explain to the District Court why it has jurisdiction in its pleadings, and why venue is proper. The parties are ordered to file a joint -- or if they cannot file jointly, separately -- brief(s) explaining why this Court has subject matter jurisdiction and why venue is proper. The parties should cite the statutory authority they used to transfer this case from the Florida Bankruptcy Court to the District Court. The parties must also update the Court on the status of Mr. Cawley's bankruptcy proceedings. The District Court holds in abeyance the Motion to Compel Production of Documents and for Sanctions filed by Plaintiffs Dermot Martin Cawley, Cawley JV LLC, and Global Mill Supply, LLC. The District Court stays all associated briefing deadlines until the issues in this Order have been resolved. A copy of the Court's Order is available at https://urlcurt.com/u?l=DEs4Gq from PacerMonitor.com. Dermot Martin Cawley filed for Chapter 11 bankruptcy protection (Bankr. M.D. Fla. Case No. 23-02795) on July 13, 2023, listing under $1 million in both assets and liabilities. The Debtor is represented by Jeffrey Ainsworth, Esq. DIAMOND RENOVATIONS: Continued Operations to Fund Plan Payments --------------------------------------------------------------- Diamond Renovations, Inc., filed with the U.S. Bankruptcy Court for the Northern District of Texas a Subchapter V Plan of Reorganization dated September 29, 2025. The Plan provides for the restructuring of the Debtor's financial obligations, continuation of its business, and payment to creditors in a manner that exceeds liquidation value. The Debtor will continue its remodeling and construction operations from its Fort Worth office. All secured creditors shall be paid direct according to their existing contract terms, outside the Plan. The Debtor shall maintain all required insurance and make timely payments to preserve collateral. The Debtor shall remain current on all direct payments; failure to do so shall permit the creditor to exercise remedies after notice and opportunity to cure. All allowed unsecured claims shall receive distributions totaling 105% of liquidation value (the "Plan Distribution"). Payments shall be made quarterly, pro rata to allowed unsecured claims, over a period not to exceed 5 years. Unsecured Creditors shall receive a quarterly payment of $38,013.16 for five years. Existing equity ownership shall be retained, subject to compliance with this Plan. Secured debts will be serviced directly. Unsecured distributions will be paid into a Plan fund administered by the Debtor, with oversight by the Subchapter V Trustee. The Debtor believes that continued operations will generate sufficient cash flow to: * Pay secured creditors direct under contract terms; * Meet quarterly obligations to unsecured creditors at a level exceeding liquidation value by 5%; * Fund administrative and trustee obligations ($1,000 monthly trustee stipend). A full-text copy of the Subchapter V Plan dated September 29, 2025 is available at https://urlcurt.com/u?l=FHUDyC from PacerMonitor.com at no charge. Proposed Counsel for the Debtor: Clayton L. Everett, Esq. Norred Law, PLLC 515 E. Border Street Arlington, TX 76010 Telephone: (817) 704-3984 Email: clayton@norredlaw.com About Diamond Renovations Diamond Renovations Inc. provides residential and commercial roofing and remodeling services in the Dallas Fort Worth area. The Company specializes in roof replacements, repairs, exterior carpentry, and painting. Diamond Renovations Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-42386) on June 30, 2025. In its petition, the Debtor reports total assets of $482,406 and total liabilities of $1,061,209. Bankruptcy Judge Edward L. Morris handles the case. The Debtors are represented by Clayton L. Everett, Esq. at NORRED LAW, PLLC. DISCOVERY WOODS: Seeks Chapter 11 Bankruptcy in Georgia ------------------------------------------------------- Discovery Woods Farms LLC voluntarily filed for Chapter 11 bankruptcy in the Southern District of Georgia on October 6, 2025. The bankruptcy petition lists liabilities ranging from $0 to $100,000. The company reports having between 1 and 49 creditors. About Discovery Woods Farms LLC Discovery Woods Farms LLC is an agricultural business based in Georgia. Discovery Woods Farms LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ga. Case No. 25-30138) on October 6, 2025. In its petition, the Debtor reports estimated assets between $100,001 and $1 million and estimated liabilities up to $100,000. Honorable Bankruptcy Judge Susan D. Barrett handles the case. The Debtor is represented by Daniel L. Wilder, Esq. of Emmett L. Goodman, Jr., LLC. DOUBLE PORTION: Seeks Chapter 11 Bankruptcy in Texas ---------------------------------------------------- On October 6, 2025, Double Portion Ranch LLC submitted a voluntary Chapter 11 bankruptcy filing in the Eastern District of Texas. According to the filing, the company's liabilities estimated between $100,001 and $1,000,000, with 1–49 creditors listed. About Double Portion Ranch LLC Double Portion Ranch LLC is a single asset real estate company. Double Portion Ranch LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Tex. Case No. 25-43006) on October 6, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100,001 and $1 million each. The Debtor is represented by Akiko Endo, Esq. of Vert Law Group PC. DRAGONFLY PRIMARY: Gets Final OK to Use Cash Collateral ------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Indiana, Indianapolis Division, granted Dragonfly Primary Care LLC's motion to use cash collateral on a final basis. The Debtor is authorized to use cash collateral in accordance with its budget. As adequate protection for any diminution in the value of its collateral, secured creditor The Huntington National Bank will be granted replacement liens on the Debtor's post-petition property, with the same validity, priority and extent as its pre-bankruptcy liens. The replacement liens do not apply to any Chapter 5 avoidance actions. Adequate protection also includes regular monthly payments in line with the budget and ongoing financial reporting. The Debtor must provide Huntington with monthly performance reports by the 15th of the following month. The final order prohibits the Debtor from using cash collateral to challenge Huntington's secured claims or lien priority. The final order is available at https://is.gd/Ou8VJE from PacerMonitor. The Debtor has performed a preliminary investigation and analysis of the related UCC filings and based upon this preliminary investigation believes that its assets serve as collateral to secure payment of the debt due Huntington under those certain Term and Line of Credit Notes and a Security Agreement dated on or about September 29, 2021, and perfected by that certain UCC-1 financing statement filed October 4, 2021, in the Office of the Indiana Secretary of State. As of the petition date, the Debtor believes the value of its assets, which may be subject to the alleged security interest of Huntington approximates the amount of the debt due the bank. Huntington is represented by: Jason R. Burke, Esq. Blackwell, Burke, Fowler & Rossow, P.C. 101 West Ohio Street, Suite 1700 Indianapolis, IN 46204 (317) 635-5005 jburke@bbfr.law About Dragonfly Primary Care Dragonfly Primary Care, LLC provides comprehensive primary care services for patients of all ages in Indianapolis, Indiana, including preventive care, urgent care, chronic disease management, mental health support, and in-house laboratory services. The clinic offers same-day visits and flexible scheduling to accommodate patient needs. It focuses on individualized, evidence-based medical care. Dragonfly Primary Care filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Ind. Case No. 25-05537) on September 12, 2025, with $288,594 in assets and $1,461,850 in liabilities. Caleb Wiles, practice manager of Dragonfly Primary Care, signed the petition. Judge James M. Carr presides over the case. Thomas C. Scherer, Esq., at Dentons Bingham Greenebaum represents the Debtor as legal counsel. DREAM LAND: Seeks to Hire BIH MFG LLC as Business Consultant ------------------------------------------------------------ Dream Land Music Group, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to hire BIH MFG, LLC as a business consultant. The consultant's leading employee has bee providing specialized knowledge in legal and financial matters relevant to bankruptcy reporting. The consultant is also scheduled to participate as a witness in a related Chapter 13 case, In re Daniel D. Foster, Case No. 25-58797-LRC, at a hearing on October 7, 2025, before this Court. With only three days (September 27-30, 2025) to review complex financial records, including artist royalties, event contracts, and licensing agreements, the consultant requires additional time to ensure accuracy and compliance with GAAP. The consultant agreed to hourly rate of $45. As disclosed in the court filings, BIH MFG LLC is disinterested, holds no adverse interests to the estate. About Dream Land Music Group Dream Land Music Group, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-60962) on September 23, 2025, listing between $1 million and $10 million in assets and between $500,001 and $1 million in liabilities. ESCALON MEDICAL: Swings to $105,525 Net Income in FY2025 -------------------------------------------------------- Escalon Medical Corp. filed with the U.S. Securities and Exchange Commission its Annual Report on Form 10-K for the fiscal year ended June 30, 2025, reporting a net income of $105,525 and a net loss of $125,261 for fiscal 2025 and 2024, respectively. Net revenue for the year ended June 30, 2025, was $12.05 million, as compared with $11.98 million for the year prior. To date, the Company's operations have not generated sufficient revenues to enable consistent profitability. Through June 30, 2025, while the Company had net income and positive cash flow from operations, however, it has historically incurred recurring losses from operations and incurred negative cash flows from operating activities, and currently the Company has adverse ratios of cash to current liabilities and days payable outstanding. Additionally, there is uncertainty in the market related to tariffs and the related impacts to the international business and supply chain cost impacts. Marlton, New Jersey-based CBIZ, CPAs P.C., the Company's auditor since 2010, issued a "going concern" qualification in its report dated September 29, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2025, citing that the Company has historically incurred recurring losses from operations and incurred negative cash flows from operating activities, and currently the Company has adverse ratios of cash to current liabilities and days payable outstanding. These conditions raise substantial doubt about the Company's ability to continue as a going concern. A full-text copy of the Company's Form 10-K is available at: https://tinyurl.com/54fuwhfp About Escalon Headquartered in Wayne, Pennsylvania, Escalon Medical Corp. operates in the healthcare market, specializing in the development, manufacture, marketing and distribution of medical devices for ophthalmic applications. As of June 30, 2025, the Company had total assets of $4.99 million, $3.08 million in total liabilities, and $1.92 million in total shareholders' equity. ESSENTIALS MASSAGE: Gets Extension to Access Cash Collateral ------------------------------------------------------------ Essentials Massage and Facials of Trinity 54, LLC received second interim approval from the U.S. Bankruptcy Court for the Middle District of Florida to use cash collateral. The second interim order signed by Judge Roberta Colton authorized the Debtor to use cash collateral to pay the amounts expressly authorized by the court, including payments to the U.S. trustee for quarterly fees; and the expenses set forth in the budget, plus an amount not to exceed 10% for each line item. This authorization will continue until further order of the court. As adequate protection, each creditor that may have a security interest in the cash collateral will be granted a perfected post-petition lien on the cash collateral, with the same validity, priority and extent as its pre-bankruptcy lien. Moreover, the Debtor was ordered to keep its property insured as further protection. The next hearing is scheduled for October 16. As of the petition date, the Debtor had cash on hand of approximately $26,443.57 and had $1,073.25 in short-term accounts receivable, which constitute cash collateral. The Debtor identifies a single secured creditor -- the U.S. Small Business Administration -- which may have a blanket lien on its assets although it disputes the validity or amount of that lien. About Essentials Massage and Facials of Trinity 54 Essentials Massage and Facials of Trinity 54, LLC operates a wellness and beauty spa offering massages, facials, body sculpting, and spa packages. It provides customized, results-focused treatments that blend relaxation with aesthetic goals. It serves clients from its location in Trinity, Florida. Essentials Massage sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-03987) on June 13, 2025. In its petition, the Debtor reported total assets of $33,228 and total liabilities of $8,225,240. Judge Roberta A. Colton handles the case. The Debtor is represented by Kristina Feher, Esq., at Feher Law, PLLC. ETROG PROPERTIES: Seeks to Sell NY Apartments at Auction -------------------------------------------------------- Etrog Properties LLC and its affiliates, Lulav Properties LLC Jerusalem Properties LLC and AM-Sedgwick LLC, seek approval from the U.S. Bankruptcy Court for the Eastern District of New York, to sell Mixed Used Bronx Apartment Buildings at auction, free and clear of liens, claims, interests, and encumbrances. The Debtors' respective mixed use residential apartment buildings are located at 938 Intervale Avenue Intervale Property), 916-918 Faile Street (Faile Property), and 2734 Sedgwick Avenue Sedgwick Property). The Debtor wants to sell the Properties to an affiliated investor group for the minimum sum of $8.35 million, all cash at closing, plus assumption and payment of certain administrative expenses (primarily legal fees) and assumption and payment of all outstanding real estate taxes, utilities and unpaid water charges relating to the Properties of $1,383,944, for a combined total value of $9,733,944, or such other higher competing bid as may be received at the public auction based upon an initial overbid of $9,750,000. The Debtors commenced these Chapter 11 cases with the goal of pursuing a bankruptcy auction process to sell the Properties in furtherance of the Restructuring Support Agreement (RSA) reached with the Debtor’s senior secured lender, Valley National Bank, prior to bankruptcy. Among other things, the RSA established the floor Bid satisfactory to the Lender, which does not intend to exercise credit bid rights at the Auction. Under the RSA, the Debtors’ principals (namely, Kourosh Nasab, Arash Merabi and Joseph Yeganeh), together with their current and potential new investors, shall form an entity to make the Affiliated Bid which serves as a baseline offer and includes the following components: a. Cash payment to Lender of $8,350,000; b. Assumption of water bills and Water Board installment agreements for all three Properties totaling $579,529 (rounded); c. Assumption of real estate taxes for all three Properties totaling $604,415 (rounded); and d. Payment of projected administrative expenses of $200,000 plus United States Trustee fees. The Properties shall be sold in a single lot based upon the Affiliated Bid for the total sum of at least $9,733,944 representing the total value of the Affiliated Bid for all three Properties (including the cash component and assumption of liabilities as may be adjusted for continued payments), more fully identified as follows: -- Intervale Property: 938 Intervale Avenue 32, including 4 commercial units -- Faile Property: 916-918 Faile Street 61 -- Sedgwick Property: 2734 Sedgwick Avenue 60, including 2 commercial units The Lender holds senior mortgage liens against each Property in the total alleged amount of $16,368,424.14, including all principal, interest, default interest, fees and advances. The Debtors intend to seek higher and better bids over and above the Affiliated Bid with an initial overbid of $9,750,000. The Debtors intend to close on the Sale of the Properties pursuant to a confirmed plan of reorganization. The Debtors believe that the Bid Procedures will promote and encourage active and competitive bidding; and will allow the Debtors to conduct the Sale in a fair and open fashion. Based upon the Lender's consent, proper statutory grounds exist to approve the Sale to be free and clear of all claims and liens except for the assumed priority obligations. About Etrog Properties LLC Etrog Properties LLC is a single asset real estate company that owns property located at 938 Intervale Avenue in the Bronx, New York. Etrog Properties LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-43396) on July 17, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Louis A. Scarcella handles the case. The Debtor tapped Kevin J. Nash, Esq., at Goldberg Weprin Finkel Goldstein LLP as counsel and FIA Capital Partners LLC as restructuring advisor. GAMIL EDHAH: Seeks Chapter 11 Bankruptcy in New York ---------------------------------------------------- On October 6, 2025, Gamil Edhah LLC submitted a voluntary Chapter 11 bankruptcy petition in the Eastern District of New York. According to court records, the company holds liabilities estimated between $1 million and $10 million. The number of creditors is reported to be between 1 and 49. About Gamil Edhah LLC Gamil Edhah LLC is a limited liability company. Gamil Edhah LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-44937) on October 6, 2025. In its petition, the Debtor reports estimated assets between $10 million and $50 million and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Nancy Hershey Lord handles the case. The Debtor is represented by Michael L. Walker, Esq. of The Law Office Of Michael Walker. GILL RANCH: Taps Newcastle Properties Group as Listing Agent ------------------------------------------------------------ Gill Ranch, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of California to employ Newcastle Properties Group as broker and listing agent. The firm will market and sell of the Debtor's fee simple interest in the property. The property consists of approximately ±2,273.06 gross acres of land located along Clay Station Road, south of Meiss Road, in Sacramento County. A commission fee equal to 5 percent of the gross sale price, split equally with 2.5 percent paid to Newcastle, and 2.5 percent paid to the buyer's broker, if any. Peter Nixon, an agent with Newcastle, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Peter Nixon Newcastle Properties Group 477 Main Street Newcastle CA, 95658 Tel: (916) 259-4455 Email: peter.nixon@newcastlepg.com About Gill Ranch, LLC Gill Ranch, LLC is a limited liability company in San Francisco, Calif. Gill Ranch sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Calif. Case No. 24-30886) on November 25, 2024, with $10 million to $50 million in both assets and liabilities. Andrew De Camara, chief restructuring officer of Gill Ranch, signed the petition. Judge Hannah L. Blumenstiel oversees the case. The Debtor is represented by Ori Katz, Esq., at Sheppard Mulllin Richter & Hampton, LLP. GLOBAL TECHNOLOGIES: FY25 10-K Filing Delayed Due to Auditor Change ------------------------------------------------------------------- Global Technologies, Ltd. filed a Notification of Late Filing on Form 12b-25 with the U.S. Securities and Exchange Commission, informing that it was unable, without unreasonable effort or expense, to file its Annual Report on Form 10-K for the fiscal year ended June 30, 2025 by the September 28, 2025 filing deadline applicable to smaller reporting companies. The delay is primarily the result of circumstances requiring the Company to change its independent registered public accounting firm during the course of the FY25 audit. In addition, due to sanctions imposed by the SEC on the Company's former auditor, the Company determined that it was necessary to have its FY24 financial statements reviewed and/or re-audited to ensure full compliance and transparency. The Company and its new auditor are diligently working to complete the review and audit processes and finalize the financial statements and related disclosures required for the Annual Report. The Company anticipates filing the Annual Report within the 15-calendar-day extension period provided under Rule 12b-25. About Global Technologies Headquartered in Parsippany, N.J., Global Technologies, Ltd -- http://www.globaltechnologiesltd.info/-- is a multi-operational company with a strong desire to drive transformative innovation and sustainable growth across the technology and service sectors, empowering businesses and communities through advanced, scalable solutions that enhance connectivity, efficiency, and environmental stewardship. The Company envisions a future where technology seamlessly integrates into every aspect of life, improving the quality of life and the health of the planet. The Company's vision is to lead the industries it serves with groundbreaking initiatives that set new standards in innovation, customer experience, and corporate responsibility, thereby creating enduring value for all shareholders. Lagos, Nigeria-based Olayinka Oyebola & Co., the Company's auditor since 2024, issued a "going concern" qualification in its report dated Sept. 20, 2024, citing that the Company suffered an accumulated deficit of $(166,666,296), and a negative working capital of $(6,304,772). These matters raise substantial doubt about the Company's ability to continue as a going concern. As of Dec. 31, 2024, Global Technologies had $8.60 million in total assets, $6.62 million in total liabilities, and $1.98 million in total stockholders' equity. As of Mar. 31, 2025, it had $4.91 million in total assets, $4.09 million in total liabilities, and $821,825 in total stockholders' equity. GLOBAL WOUND: Warns Liquidity Crisis if Medicare Repayment Delayed ------------------------------------------------------------------ Clara Geoghegan of Law360 reports that Global Wound Care, a specialty medical practice, told a Texas bankruptcy judge it is waiting on $27.2 million in Medicare reimbursements, cautioning that payment delays worsened by the federal government shutdown could trigger a liquidity crisis. The company said the pending funds are essential for maintaining operations and asked the court to classify the Medicare claims as vital to its Chapter 11 restructuring, the report states. About Global Wound Care Medical Group Global Wound Care Medical Group sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 24-34908) on Oct. 21, 2024, with $100 million to $500 million in both assets and liabilities. Owen B. Ellington, M.D., president of Global WoundCare Medical Group, signed the petition. Judge Eduardo V. Rodriguez oversees the case. Casey W. Doherty, Jr., Esq., at Dentons US, LLP serves as the Debtor's legal counsel while Verita Global serves as notice, claims and balloting agent. Suzanne Richards is the patient care ombudsman appointed in the Debtor's case. GRAFTON CONNOR: Seeks CCAA Protection; MNP as Monitor ----------------------------------------------------- The Supreme Court of Nova Scotia ("Court") sitting as a court designated pursuant to the Companies' Creditors Arrangement Act ("CCAA") issued an Initial Order appointing MNP Ltd. as monitor to Grafton Argyle Property Partnership; Bedford Investments Limited; T.L.B. Holdings Limited; Jack Friday’s Limited; Grafton Street Restaurant Limited; 4625239 Nova Scotia Limited; 1130482 Nova Scotia Limited; Cornwallis Properties Limited; Five Fishermen Limited; Shoreline Holding Company Incorporated; and Shoreline Investments (SIL-Q) Limited ("Grafton Connor Group") and providing them with various protections in virtue of the CCAA. The Court number assigned to the CCAA proceeding is Hfx No 545977. During the CCAA proceedings, the Companies, with the assistance of the Monitor, will continue to operate in the ordinary course of business as they determine the steps to restructure their operations, under the supervision of the Monitor and the Court. To require further information not available on the Monitor’s website or for any other questions, please refer to below contact information and communicate with the Monitor by phone or by email at GraftonCCAA@mnp.ca. Pursuant to Section 23 of the CCAA, a copy of the Initial Order, the list of creditors and other material filed or related to the CCAA proceedings are or will be available on the Monitor's website at the following address: https://mnpdebt.ca/en/corporate/corporate-engagements/grafton-connor-group. The Monitor can be reached at: MNP Ltd. 1801 Hollis St., 1400 Halifax, NS B3J 3N4 Paul Pettigrew Email: paul.pettigrew@mnp.ca Sheri Aberback Email :sheri.aberback@mnp.ca Dax Romero Email: dax.romero@mnp.ca Counsel for the Companies: O'Keefe & Sullivan Suite 202, Purdy's Wharf II 1969 Upper Water St. Halifax, NS, B3J 3R7 Darren O'Keefe Email: dokeefe@okeefesullivan.com Megan Taylor Email: mtaylor@okeefesullivan.com Essber Essber Email: eessber@okeefesullivan.com Grafton Connor is a group of companies which own and operate a collection of restaurants, bars, nightclubs, entertainment and special event venues in Halifax, Nova Scotia. HART & HART: Seeks to Hire Rountree Leitman Klein as Attorney ------------------------------------------------------------- Hart & Hart Investment, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to hire Rountree, Leitman, Klein & Geer, LLC as their attorneys. The firm's services include: a. giving the Debtor legal advice with respect to its powers and duties as Debtor-in-Possession in the management of its property; b. preparing on behalf of the Debtor as Debtor-in-Possession necessary schedules, applications, motions, answers, orders, reports and other legal matters; c. assisting in examination of the claims of creditors; d. assisting with formulation and preparation of the disclosure statement and plan of reorganization and with the confirmation and consummation thereof; and e. performing all other legal services for the Debtor as Debtor-in-Possession that may be necessary. The firm's hourly rates: Attorney: William A. Rountree $595 Will B. Geer $595 Michael Bargar $535 Hal Leitman $425 William Matthews $425 David S. Klein $495 Elizabeth Childers $395 Ceci Christy $425 Caitlyn Powers $375 Shawn Eisenberg $300 Paralegals: Dorothy Sideris $200 Elizabeth Miller $290 Megan Winokur $175 Catherine Smith $150 Law Clerk $175 The firm received from Debtor a pre-petition retainer of $20,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Mr. Greer 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: Will B. Geer, Esq. ROUNTREE LEITMAN KLEIN & GEER, LLC Century Plaza I 2987 Clairmont Road, Suite 350 Atlanta, GA 30329 Telephone: (404) 584-1238 Email: emiller@rlkglaw.com About Hart & Hart Investments Hart & Hart Investments, Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-21225) on August 29, 2025, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. William A. Rountree, Esq., at Rountree Leitman Klein & Geer, LLC represents the Debtor as legal counsel. HAVOC BREWING: Hires Matheson & Associates as Special Counsel ------------------------------------------------------------- Havoc Brewing Company, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of North Carolina to employ Matheson & Associates PLLC as special counsel. The firm will provide legal services associated with the registration of the Debtor's trademark. The firm received a flat fee in the amount of $1,000. As disclosed in the court filings, Matheson & Associates PLLC is a "disinterested person" within the meaning of 11 U.S.C. 101(14). The firm can be reached through: John Szymankiewicz, Esq. Matheson & Associates PLLC 127 W Hargett St # 100 Raleigh, NC 27601 Phone: (919) 335-5291 Email: info@mathesonlawoffice.com About Havoc Brewing Company LLC Havoc Brewing Company, LLC is a veteran-owned craft brewery based in Pittsboro, N.C. Founded in 2023, the company operates a 6,500-square-foot taproom that features award-winning beers, a coffee bar, and regular community events such as trivia nights, live music, and food trucks. Havoc Brewing Company sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.C. Case No. 25-01498) on April 25, 2025. In its petition, the Debtor reported between $1 million and $10 million in both assets and liabilities. Judge Pamela W. McAfee handles the case. The Debtor is represented by: Joseph Zachary Frost Buckmiller & Frost, PLLC Tel: (919) 296-5040 Email: jfrost@bbflawfirm.com HERITAGE COAL: States Say Ch.11 Plan Sidesteps Environmental Laws ----------------------------------------------------------------- Clara Geoghegan of Law360 reports that in Delaware bankruptcy court, Maryland, Pennsylvania, and the creditors' committee have filed motions to block Heritage Coal's Chapter 11 liquidation plan. They argued that the proposal grants excessive legal protections while failing to meet essential environmental obligations. The coalition urged the judge to reject the plan at the October 15 confirmation hearing, warning it could endanger both public safety and surrounding ecosystems. State officials said the plan does not clearly outline how Heritage Coal will fund cleanup and site restoration for its remaining mining operations. Maryland and Pennsylvania, responsible for overseeing the company's mining permits, cautioned that the proposed injunction could limit enforcement of environmental laws and prevent states from taking necessary action. Maryland regulators noted that two of the company's sites have already fallen short of state environmental standards, raising concerns about deteriorating conditions. Pennsylvania added that ten mining sites remain under Heritage’s control, including a 185-foot-high open pit in Somerset County. The Commonwealth estimated that remediation costs could exceed the company's posted bonds by millions, with some cleanup efforts potentially surpassing $4 million. About Heritage Coal & Natural Resources LLC Heritage Coal & Natural Resources LLC is a coal mining company based in Meyersdale, Pennsylvania that specializes in coal extraction and processing operations in Somerset County. The company operates from its principal location at 1117 Shaw Mine Road and maintains multiple coal leases with regional landowners including Allegany Coal and Land Company, Beechwood Coal LLC, and Shaw Big Vein Coal Company for its mining operations. Heritage Coal & Natural Resources LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-10602) on March 30, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million. Honorable Bankruptcy Judge Mary F. Walrath handles the case. The Debtor is represented by Jeffrey R. Waxman at Morris James LLP. HOWARD AVENUE: PNC et al. Can't Pursue Interlocutory Appeal ----------------------------------------------------------- In the appeal styled HOWARD AVENUE STATION, LLC, PNC INVESTMENTS, LLC, and VMOB, LLC, Proposed Appellants, v. FRANK KANE, Proposed Appellee, Case No. 8:24-cv-02353-MSS (M.D. Fla.), Judge Mary S. Scriven of the United States District Court for the Middle District of Florida denied the motion of PNC Investments, LLC, The Block In Soho, LLC, and VMOB, LLC seeking leave to file an interlocutory appeal of the Bankruptcy Court's order denying their motion for leave to amend by filing counterclaim and third party complaint. Under the standards set forth in 28 U.S.C. Sec. 1292(b),a court will permit an interlocutory appeal of an order if: (1) the order presents a controlling question of law (2) over which there is substantial ground for difference of opinion among courts, and (3) the immediate resolution of the issue would materially advance the ultimate termination of the litigation. Proposed Appellants seek leave to appeal on the basis that the Bankruptcy Court should have granted leave to amend because Proposed Appellants' claims should all be resolved in one forum. Proposed Appellants do not identify a basis for the District Court to conclude that the Bankruptcy Court abused its discretion when it denied their Motion for Leave to Amend. And the District Court has not identified a controlling question of law dealing with a question of pure law, or matters that can be decided quickly and cleanly without having to study the record which could supply a basis for an appeal. Accordingly, the first element is not present and, as a result, the second element also is not present. Moreover, the District Court is not convinced that the requested grant of an interlocutory appeal is not an exercise of bad policy. The District Court will not grant leave to appeal pursuant to the standards set forth in 28 U.S.C. Sec. 1292(b). According to the District Court, review under the collateral order doctrine is not appropriate because Proposed Appellants fail to establish the second and third elements. Proposed Appellants identify the reduction of their litigation costs as an interest implicated in their appeal. This does not implicate public interests, and this consideration is not like those previously identified as sufficiently weighty to justify application of the collateral order doctrine. The District Court finds that Proposed Appellants do not to meet their burden to identify an important issue completely separate from the merits of the action sufficient for this Court to apply the collateral order doctrine. A copy of the Court's Order is available at https://urlcurt.com/u?l=ZtoK9y from PacerMonitor.com. About Howard Avenue Station Tampa, Fla.-based Howard Avenue Station, LLC filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 12-08821) on June 6, 2012. In the petition signed by Thomas Oriz, managing member, the Debtor disclosed $1 million to $10 million in both assets and liabilities. Judge Catherine Peek McEwen oversees the case. Stichter Riedel Blain & Postler, P.A. and W. Bart Meacham, Esq., serve as the Debtor's bankruptcy counsel and special counsel, respectively. HPC VINEBURN: Seeks to Hire Edgcomb Law Group as Special Counsel ---------------------------------------------------------------- HPC Vineburn, LLC seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ the Law Offices of Edgcomb Law Group, LLP as its special counsel. The firm's services include: a. advising the Debtor regarding compliance requirements related to the Water Board Order and the requirements of the Second Appellate District for the State of California ("Appellate Court") related to the Appeal; b. preparing motions, applications, pleadings, orders, memoranda, briefs, reports, and other papers as may be necessary in connection with the litigation and Appeal; c. representing the Debtor in any proceeding or hearing in connection with the appeal; d. representing the Debtor at meetings and in discussions with the Water Board. e. attending meetings and negotiating with creditors and other parties-in-interest, as and when necessary, to the extent such meetings and negotiations involve environmental issues; f. assisting in the preservation and protection of the Estate by prosecuting the Appeal commenced by the Debtor; g. if the appeal is successful, representing the Debtor through trial in the Superior Court Action after remand; and h. rendering such other advice and services as may be requested by Debtor from time to time related to the appeal. The firm's current hourly rates are: Tiffany Hedgpeth $500 John Edgcomb $500 Gabriel Padilla $435 Ferdeza Zekir $400 Tiffany Hedgpeth, Esq., a partner with Edgcomb Law Group, disclosed in the court filings the the firm is a "disinterested person" within the meaning of 11 U.S.C. 101(14). The firm can be reached through: Tiffany R. Hedgpeth, Esq. Law Offices of Edgcomb Law Group, LLP 591 Redwood Highway, Suite 2320 Mill Valley, CA 94941-6022 Phone: (415) 399-1993 Email: elginfo@edgcomb-law.com About HPC Vineburn LLC HPC Vineburn LLC is a single asset real estate entity as defined under 11 U.S.C. Section 101(51B), with its principal assets located at 1919 Vineburn Avenue in Los Angeles, California. The Company's operations focus primarily on managing and holding this real estate asset. HPC Vineburn LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-11455) on August 8, 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 Martin R. Barash handles the case. The Debtor is represented by Michael B. Reynolds, Esq. at SNELL & WILMER L.L.P. HYPER FOX: Janice Seyedin Named Subchapter V Trustee ---------------------------------------------------- The U.S. Trustee for Region 11 appointed Janice Seyedin as Subchapter V trustee for Hyper Fox, Inc. Ms. Seyedin will be paid an hourly fee of $295 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Seyedin declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. About Hyper Fox Inc. Hyper Fox, Inc. provides transportation and logistics services from its headquarters at 501 Marcus Drive, Lombard, Illinois. The Company operates as a for-hire carrier across the United States, managing a fleet of trucks and trailers for freight hauling. It is specializing in general freight transportation. Hyper Fox filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-15174) on October 1, 2025, with $591,450 in assets and $1,186,247 in liabilities. Mariusz Poniewozik, president of Hyper Fox, signed the petition. David Freydin, Esq., at the Law Offices of David Freydin represents the Debtor as bankruptcy counsel. IF YOU PLEASE: Section 341(a) Meeting of Creditors on November 4 ---------------------------------------------------------------- On October 2, 2025, If You Please LLC filed Chapter 11 protection in the District of Arizona. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. A meeting of creditors under Section 341(a) to be held on November 4, 2025 at 09:00 AM via Chapter 11 Teleconference Call in number: 1-888-330-1716, Passcode: 4038524. About If You Please LLC If You Please LLC, doing business as Honeymoon Sweets European Bakery, operates a retail, wholesale, and catering bakery based in Tempe, Arizona. The Company specializes in handcrafted European-style pastries, cakes, pies, cupcakes, and desserts made from scratch using locally sourced and imported premium ingredients, with a strong focus on custom wedding cakes. It serves individual customers and commercial clients across the Phoenix metropolitan area, including resorts, country clubs, and professional sports teams. If You Please LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 25-09405) on October 2, 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 Daniel P. Collins handles the case. The Debtor is represented by Ronald J. Ellett, Esq. of ELLETT LAW OFFICES, P.C. IH 35 TRANSPORTATION: Case Summary & 20 Top Unsecured Creditors --------------------------------------------------------------- Debtor: IH 35 Transportation, LLC 475 Pico Road Laredo, TX 78045 Business Description: IH 35 Transportation, LLC provides trucking and logistics services, specializing in international freight, and is based in Laredo, Texas, operating a fleet of vehicles and employing drivers within the U.S. transportation industry. Chapter 11 Petition Date: October 2, 2025 Court: United States Bankruptcy Court Southern District of Texas Case No.: 25-50103 Judge: Hon. Jeffrey P Norman Debtor's Counsel: Carl M. Barto, Esq. LAW OFFICE OF CARL M. BARTO 817 Guadalope Laredo, TX 78040-5251 Tel: (956) 725-7500 Email: cmblaw@netscorp.net Estimated Assets: $500,000 to $1 million Estimated Liabilities: $1 million to $10 million The petition was signed by Jorge Pablo Munoz as managing member. 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/ODKXGFA/IH_35_Transportation_LLC__txsbke-25-50103__0001.0.pdf?mcid=tGE4TAMA JILL'S OFFICE: Gets Final OK to Use Cash Collateral Until Dec. 31 ----------------------------------------------------------------- Jill's Office, LLC received final approval from the U.S. Bankruptcy Court for the District of Utah, Central Division, to use cash collateral. The final order signed by Judge Peggy Hunt approved the use of cash collateral for the period from October 1 to December 31 to pay the expenses set forth in the Debtor's budget. The Debtor may exceed individual budget line items by up to 15%, provided the total monthly expenditures do not negatively affect the overall projected profit margins in October, November and December. As protection, Stripe Servicing, Inc., the U.S. Small Business Administration and other creditors with a valid and perfected interest in the Debtor's cash collateral as of the petition date will be granted a replacement lien on the cash collateral. As further protection, the Debtor was authorized to make monthly payment of $9,000 to SBA for the period from October to December. These payments will be credited against any allowed secured claim or, if unsecured, against SBA's share of distribution to be determined at the time of confirmation of its Chapter 11 plan. About Jill's Office LLC Jill's Office, LLC provides professional, US-based 24/7 virtual receptionist and scheduling services designed to support businesses across various industries. The Company offers a range of services, including inbound call answering, appointment scheduling, live chat support for websites, and automated lead follow-ups (Lead Zap). Jill's Office specializes in delivering tailored, seamless communication solutions that enhance customer engagement while eliminating the need for businesses to hire in-house staff. The Company serves industries such as home services, real estate, health and wellness, finance, legal, and small businesses. Its mission is to ensure that businesses never miss calls or opportunities, offering reliable customer service around the clock. Jill's Office filed Chapter 11 petition (Bankr. D. Utah Case No. 25-21625) on March 27, 2025, listing up to $500,000 in assets and up to $10 million in liabilities. Brant Thurgood, member manager, signed the petition. Judge Peggy Hunt oversees the case. The Debtor is represented by: T. Edward Cundick, Esq. Workman Nydegger Tel: 801-533-9800 Email: tcundick@wnlaw.com JL DANIELS: Voluntary Chapter 11 Case Summary --------------------------------------------- Debtor: JL Daniels Group LLC 2628 Wenonah Oxmoor Road Birmingham, AL 35211 Case No.: 25-03003 Chapter 11 Petition Date: October 3, 2025 Court: United States Bankruptcy Court Northern District of Alabama Judge: Hon. D Sims Crawford Debtor's Counsel: Jacquese Antoinette Gary, Esq. GARY LAW LLC PO Box 560 Fairfield, AL 35064 Email: jgary@garylawllc.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by James L Daniels as authorized signatory. 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/4KQIB4I/JL_Daniels_Group_LLC__alnbke-25-03003__0001.0.pdf?mcid=tGE4TAMA JOHN BENNETT: Seeks Chapter 11 Bankruptcy in Georgia ---------------------------------------------------- On October 6, 2025, The John Bennett Group LLC submitted a voluntary Chapter 11 bankruptcy filing in the Northern District of Georgia. Court records show that the company's liabilities estimated between $1 million and $10 million, with 1–49 creditors listed in the filing. About The John Bennett Group LLC The John Bennett Group LLC is a single asset real estate company. The John Bennett Group LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-61577) on October 6, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. KAWANA MEADOWS: Hires Lapin & Taherian as Bankruptcy Counsel ------------------------------------------------------------ Kawana Meadows Development, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of California to hire Law Offices of Lapin & Taherian as attorneys. The firm will render these services: (a) evaluate the merits of the instant involuntary petition and advise Debtor accordingly, (b) move to dismiss the instant involuntary petition if appropriate and in the best interest of Debtor, (c) in the event that dismissal is not granted: i. seek, from the party filing the instant petition, a bond to protect Debtor, ii. advise the Debtor with respect to its powers and duties as Debtor-in-possession. iii. attend meetings and negotiate with representatives of creditors and other parties in interest and advise and consult on the conduct of the case, including all of the legal and administrative requirements of being in Chapter 11; iv. take all action necessary and reasonable to protect and preserve the Debtor's estate. v. prepare on behalf of the Debtor all motions, applications, answers, orders, reports, and papers necessary to the administration of the estate and to review but not to prepare the monthly operating reports required to be filed in the herein case. vi. negotiate and prepare on the Debtor's behalf a plan for reorganization, and all related agreements and/or documents and take any necessary action on behalf of the Debtor to obtain confirmation of such plan; vii. advise the Debtor in connection with the possible sale or any possible re-finance of its assets; viii. appear before the Court and the U.S. Trustee and protect the interest of the Debtor's estate before such courts and the U.S. Trustee; and ix. perform all other necessary legal services and provide all other necessary legal advice to the Debtor in connection with her Chapter 11 case. The firm's hourly rates are: Sam Taherian, Esq. $525 Daniel Lapin, Esq. $485 The Lapin & Taherian has received a $10,000 retainer. Lars Sam Taherian, Esq., a partner at Lapin & Taherian, assured the court that the firm is a "disinterested person" within the meaning of 11 U.S.C. 101(14). The firm can be reached through: Lars Sam Taherian, Esq. Law Offices of Lapin & Taherian 910 Pleasant Grove Blvd., Ste 120 Roseville, CA 95678 Telephone: (408) 271-9270 Facsimile: (408) 271-9288 About Kawana Meadows Development, LLC Kawana Meadows Development, LLC, based in Santa Rosa, California, is a real estate development company focused on residential projects, including the Kawana Meadows Subdivision at 1162 Kawana Springs Road. Alleged creditors filed an involuntary Chapter 11 petition for Kawana Meadows Development, LLC (Bankr. N.D. Cal. Case No. 25-10590) on September 18, 2025. The alleged creditors are Amy Wu and Coulombe Properties LLC. The petitioners are represented by David S. Henshaw, Esq. at BURKE, WILLIAMS & SORENSEN, LLP. KBS REIT: Completes $100M Sale of Park Place Village, Reduces Debt ------------------------------------------------------------------ KBS Real Estate Investment Trust III, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that previously on June 18, 2015, the Company, through an indirect wholly owned subsidiary, acquired a mixed-use office/retail property containing 484,980 rentable square feet located on approximately 17.1 acres of land in the Kansas City submarket of Leawood, Kansas. On September 23, 2025, KBS REIT III completed the sale of Park Place Village to a purchaser unaffiliated with KBS REIT III or KBS Capital Advisors LLC, for a gross sales price of $100.0 million, or $95.5 million of net sales proceeds, after credits for outstanding tenant improvements and lease incentives, prorations, security deposits, third-party closing costs and $0.8 million of disposition fees payable to the Advisor. Payoff of the Park Place Village Mortgage Loan and Paydown of the Credit Facility On September 1, 2022, KBS REIT III, through an indirect wholly owned subsidiary, entered into a three-year loan agreement with a lender unaffiliated with KBS REIT III or the Advisor, for a committed amount of $65.0 million. The maturity date of the Park Place Village Mortgage Loan was August 31, 2025. On August 6, 2025, the maturity date of the Park Place Village Mortgage Loan was extended to November 30, 2025. The Park Place Village Mortgage Loan was secured by Park Place Village. On September 23, 2025, the PPV Borrower used the net sales proceeds of $95.5 million from the sale of Park Place Village to: (i) pay off the outstanding principal and accrued interest due under the Park Place Village Mortgage Loan of $65.2 million and (ii) pursuant to an amendment to the Credit Facility, pay down the outstanding principal balance of the Credit Facility by $25.4 million, reducing the outstanding principal balance of the Credit Facility to $37.5 million. The remaining net sales proceeds will be utilized to manage the liquidity needs of KBS REIT III About KBS Real Estate KBS Real Estate Investment Trust III, Inc. is a Maryland corporation that has elected to be taxed as a real estate investment trust and it intends to continue to operate in such a manner. The Company conducts its business primarily through its Operating Partnership, of which the Company is the sole general partner. Irvine, California-based Ernst & Young LLP, the Company's auditor since 2010, issued a "going concern" qualification in its report dated March 14, 2025, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2024, citing that the Company has $467 million of loan maturities and required principal paydowns within one year from the date of issuance of the consolidated financial statements, and has stated that substantial doubt exists about the Company's ability to continue as a going concern. As of June 30, 2025, KBS Real Estate Investment Trust III had total assets of $1.78 billion, total liabilities of $1.58 billion and total stockholders' equity of $200.84 million. KBS REIT: Renews Advisory Agreement with KBS Capital to Sept. 2026 ------------------------------------------------------------------ KBS Real Estate Investment Trust III, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that it renewed its advisory agreement with KBS Capital Advisors, LLC. The advisory agreement renewal agreement extends the term of the current advisory agreement, as amended, through September 27, 2026. The advisory agreement may be renewed for an unlimited number of successive one-year periods upon the mutual consent of the Company and the Advisor. The advisory agreement may be terminated: (i) upon 60 days' written notice without cause or penalty by either the Company (acting through the Conflicts Committee) or the Advisor or (ii) immediately by the Company for cause or upon the bankruptcy of the Advisor. Other than the one-year extension of the term, the advisory agreement renewal agreement made no changes to the terms of the advisory agreement, as amended. A copy of the Advisory Agreement Renewal Agreement is available at https://tinyurl.com/4w3rt398 About KBS Real Estate KBS Real Estate Investment Trust III, Inc. is a Maryland corporation that has elected to be taxed as a real estate investment trust and it intends to continue to operate in such a manner. The Company conducts its business primarily through its Operating Partnership, of which the Company is the sole general partner. Irvine, California-based Ernst & Young LLP, the Company's auditor since 2010, issued a "going concern" qualification in its report dated March 14, 2025, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2024, citing that the Company has $467 million of loan maturities and required principal paydowns within one year from the date of issuance of the consolidated financial statements, and has stated that substantial doubt exists about the Company's ability to continue as a going concern. As of June 30, 2025, KBS Real Estate Investment Trust III had total assets of $1.78 billion, total liabilities of $1.58 billion and total stockholders' equity of $200.84 million. KC TRANSPORT: Seeks to Hire Brenner Averett & Co. as Accountant --------------------------------------------------------------- KC Transport, LLC seeks approval from the U.S. Bankruptcy Court for the District of Montana to employ Brenner, Averett & Co., PC as accountant. The firm will prepare the Debtor's income tax returns, provide income tax consulting, analysis of tax consequences of proposed bankruptcy plans, and compiling reports. The firm will be paid at these rates: Bill Brenner $275 per hour Amy Knight $150 per hour Dawn Bahls $100 per hour Brady Johnson $125 per hour As disclosed in the court filings, Brenner, Averett & Co., PC is a "disinterested person" within the meaning of 11 U.S.C. 101(14). The firm can be reached through: Bill Brenner Amy Knight Dawn Bahls Brady Johnson Brenner, Averett & Co., PC 121 S Central Ave Sidney, MT 59270 Phone: (406) 433-5464 About KC Transport, LLC KC Transport LLC is a limited liability company. KC Transport LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Nev. Case No. 25-10010) on January 25, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. The Debtor is represented by James A. Patten, Esq. at PATTEN PETERMAN BEKKEDAHL & GREEN, PLLC. KEIRAN INVESTMENTS: Seeks Subchapter V Bankruptcy in Texas ---------------------------------------------------------- On October 4, 2025, Keiran Investments LLC filed Chapter 11 protection in the Western District of Texas. According to court filing, the Debtor reports $1,170,431 in debt owed to 1 and 49 creditors. The petition states funds will not be available to unsecured creditors. About Keiran Investments LLC Keiran Investments LLC, based in San Antonio, Texas, operates as an interstate freight carrier transporting general freight across state lines. The Company maintains a fleet of tractors and trailers with authority for property transport. Its operations are primarily focused on logistics and trucking services within the United States. Keiran Investments LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 25-52341) on October 4, 2025. In its petition, the Debtor reports zero assets and total debts of $1,170,431. Honorable Bankruptcy Judge Craig A. Gargotta handles the case. The Debtor is represented by Morris E. "Trey" White, III, Esq. of VILLA & WHITE. LLP KIDSVILLE LEARNING: Taps Aramis Hernandez as Bankruptcy Counsel --------------------------------------------------------------- Kidsville Learning Centers, Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to hire Aramis Hernandez, Esq. as bankruptcy counsel. The firm will render these services: a. give advice to the Debtor with respect to its powers and duties as debtor in possession and the continued management of its business operations; b. advise the Debtor with respect to its responsibilities in complying with the U.S. Trustee's Operating Guidelines and Reporting Requirements and with the rules of the court; c. prepare motions, pleadings, orders, applications, adversary proceedings, and other legal documents necessary administration of the case; d. protect the interest of the Debtor in all matters pending before the court; and e. represent the Debtor in negotiation with its creditors in the preparation of a plan. The firm's hourly rate for attorneys is $400. The firm shall receive a retainer in the amount of $20,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Ms. Hernandez disclosed in a court filing that she is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The counsel can be reached at: Aramis Hernandez, Esq. 100 SE 2nd Street, Suite 2000 Miami, FL 33131 Tel: (305) 374-7744 Fax: (305) 374-2224 Email: Aramis@MiamiLegalCenter.com About Kidsville Learning Centers Kidsville Learning Centers, Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-21000) on September 21, 2025, with $100,001 to $500,000 in assets and liabilities. Judge Laurel M. Isicoff presides over the case. Aramis Hernandez, Esq., represents the Debtor as legal counsel. KULANA HALE: Gets Interim OK to Use Cash Collateral --------------------------------------------------- Kulana Hale, LLC received interim approval from the U.S. Bankruptcy Court for the Southern District of New York to use the cash collateral of secured creditors. The interim order authorized the Debtor to use cash collateral through the final hearing date to pay expenses related to managing and operating its real estate and other property. The Debtor projects total operational expenses of $761,332.86 for the period from September to November. The secured creditors with interest in the cash collateral are Bank of Hawaii, DM Kulana Hale Holdings, LLC and Dennis Mahoney, individually and as trustee of the Dennis W. Mahoney Revocable Trust. As adequate protection, secured creditors will be granted replacement liens on all of the Debtor's assets that are similar to their pre-bankruptcy collateral. The replacement liens do not apply to avoidance claims and will have the same priority as the secured creditors' pre-bankruptcy liens. The Bank of Hawaii's replacement lien retains priority over the Mahoney Group's lien, consistent with a prior subordination agreement. In case the replacement liens prove inadequate, secured creditors will be granted super-priority administrative expense claims subordinate to the fee carveout. As additional protection, Bank of Hawaii will continue to receive regular monthly payments while Mahoney will receive a monthly payment of $29,666.67 for the $10 million note and $4,450 as to the $1.5 million note. The Debtor's authority to use cash collateral terminates upon the occurrence of so-called events of default, which include dismissal or conversion of its Chapter 11 case; appointment of a trustee or examiner; and uncured defaults or violations of the Bankruptcy Code and court orders. The final hearing is scheduled for November 7. Objections are due by October 31. Bank of Hawaii is represented by: Johnathan C. Bolton, Esq. Goodsill Anderson Quinn & Stifel LLP 999 Bishop Street, Suite 1600 First Hawaiian Tower Honolulu, HI 96813 Telephone: (808) 547-5854 Facsimile: (808) 547-5650 jbolton@goodsill.com About Kulana Hale LLC Kulana Hale, LLC classified itself as a single-asset real estate debtor, under the definition set forth in 11 U.S.C. Section 101(51B). Kulana Hale sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-11990) on September 12, 2025. In its petition, the Debtor reported total assets of $45,256,000 and total liabilities of $36,558,368. Honorable Bankruptcy JudgeÂ Philip Bentley handles the case. The Debtor is represented by Lewis W. Siegel, Esq. L.D. LYTLE: Unsecureds to be Paid in Full over 60 Months -------------------------------------------------------- L.D. Lytle, Inc. filed with the U.S. Bankruptcy Court for the Northern District of Texas a Plan of Reorganization under Subchapter V dated September 29, 2025. The Debtor is the owner of three-day care centers known as Sunshine Kids Academy. Two of the centers, Sunshine Kids Academy in Ennis, Texas (the "Ennis Center") and Sunshine Kids Academy in Ferris, Texas (the "Ferris Center"), are operating. The third center, Sunshine Kids Academy in Red Oak, Texas (the "Red Oak Center"), has been undergoing a complete remodel and is not operating. The Red Oak Center is located on real property owned by the Debtor, which is currently under a Court-approved contract for sale. The Ennis Center is located on real property owned by an affiliate of the Debtor; however, the day care business located on the property is owned by the Debtor. The Ferris Center is located on real property which is leased by the Debtor from a third party. The filing of this bankruptcy case was caused primarily by a non monetary default by the Debtor on a secured loan, which led to a posting for foreclosure and ultimately the filing of this case. The Debtor scheduled total Unsecured Claims in the amount of $322,968.97. The Plan is a Plan of Reorganization. Under the Plan the Debtor will sell its real, improvements and business commonly known as Sunshine Kids Academy in Red Oak, Texas and the business and personal property commonly known as Sunshine Kids Academy in Ennis, Texas 75154, and use the sale proceeds to fund the payments due under the Plan. Class 8 consists of Allowed Unsecured Claims. These Claims shall be paid in full over 60 months from the Effective Date in equal monthly installments of principal with interest thereon at the rate of 1% per annum. Payments will commence on the first day of the first month following the Effective Date and continue until the expiration of 60 months from the Petition Date. Interest shall begin to accrue on the Effective Date. Should the sales of the Red Oak Center and Ennis Center result in net sale proceeds in excess of Allowed Secured Claims against those properties, such proceeds shall be applied to payment of Allowed Unsecured Claims on a Pro Rata basis. These Claims are Impaired, and the holders of these Claims are entitled to vote to accept or reject the Plan. Class 9 consists of Equity Interest Holders. Equity Interests shall be retained by the owners of said Interests. The Debtor will complete the sale of the Red Oak Center and will promptly begin marketing the Ennis Center for sale as soon as possible. The Debtor anticipates the Ennis Center will be sold within 6-9 months from the Effective Date. Net proceeds of the sales will be used to pay Allowed Secured Claims, and then to pay Allowed Unsecured Claims. A full-text copy of the Plan of Reorganization dated September 29, 2025 is available at https://urlcurt.com/u?l=XT7eV3 from PacerMonitor.com at no charge. Counsel to the Debtor: Joyce W. Lindauer, Esq. Joyce W. Lindauer Attorney, PLLC 117 S. Dallas Street Ennis, TX 75119 Telephone: (972) 503-4033 Facsimile: (972) 503-4034 About L.D. Lytle, Inc. L.D. Lytle Inc., doing business as Sunshine Kids Academy, operates early childhood education and daycare centers in Texas. It provides childcare services at locations in Ennis, Ferris, and Red Oak. L.D. Lytle sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-32454) on June 30, 2025. In its petition, the Debtor estimated assets and liabilities between $1 million and $10 million each. Judge Michelle V. Larson handles the case. The Debtor is represented by Joyce Lindauer, Esq., at Joyce W. Lindauer Attorney, PLLC. LAVIE CARE: No Complaints at NC Facilities, 7th PCO Report Says --------------------------------------------------------------- Renee Kea, the Interim State Long-Term Care Ombudsman, filed his seventh report regarding the quality of patient care provided at the North Carolina nursing facilities operated by LaVie Care Centers, LLC's affiliates. Visits were conducted by the regional long-term care ombudsmen who report programmatically to the State Long-Term Care Ombudsman (SLTCO) who is housed within the NC Division of Aging. All the facilities are skilled nursing facilities. Regional ombudsmen conducted visits to the 16 facilities between July 13 and September 12. There was no evidence of staffing shortage. Residents that met with the ombudsmen did not indicate any issues that adversely impacted quality of care. Staffing was adequate. During their visit, ombudsmen toured the facilities so they could observe the environment, meet and greet residents, staff, families (if available), review Survey Reports, and make general observations. Ombudsman observations and meetings with residents and family members revealed satisfaction with care and cleanliness. Regional ombudsmen will continue to visit and meet with residents to ensure that they are receiving the highest quality of care and that the bankruptcy reorganization does not have any adverse impact on their quality of care. The ombudsman noted that the patients, families, and staff were satisfied with the quality of care provided. They did not express any concerns that the bankruptcy was adversely impacting the quality of care provided to the residents in the 16 facilities. A copy of the ombudsman report is available for free at https://urlcurt.com/u?l=ZP1YdY from Kurtzman Carson Consultants, LLC, claims agent. About Lavie Care Centers LaVie Care Centers, LLC is the parent company of skilled nursing facility operators and providers, with facilities primarily located in Mississippi, North Carolina, Pennsylvania and Virginia. The company operates 43 licensed facilities, with 4,300 beds, providing short-term rehabilitation, comprehensive post-acute care, and long-term care to its residents. On June 2 and 3, 2024, LaVie Care Centers and 281 affiliates filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ga. Lead Case No. 24-55507), before Judge Paul Baisier in Atlanta. The Debtors tapped McDermott Will & Emery, LLP as legal counsel; Stout Capital, LLC as investment banker; and Ankura Consulting as financial advisor. M. Benjamin Jones, senior managing director at Ankura, serves as the Debtors' chief restructuring officer. Kurtzman Carson Consultants, LLC is the claims agent, and maintains the page http://www.kccllc.com/LaVie The U.S. Trustee for Region 21 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The U.S. Trustee also appointed Joani Latimer as patient care ombudsman for patients at the Debtors' Virginia facilities; Victor Orija for North Carolina facilities; Lisa Smith for the Mississippi facilities; Margaret Barajas for the Pennsylvania facilities; and Terri Cantrell for the Florida facility. LEISURE INVESTMENTS: Creditor Objects to Asset Sale Credit Bid -------------------------------------------------------------- Jarek Rutz of Law360 reports that a financial intermediary for dolphin-park owner Leisure Investment Holdings LLC is petitioning the U.S. Bankruptcy Court in Delaware to bar any credit bidding by TREW (or other secured parties) at the Chapter 11 auction, in order to protect its roughly $4 million claim stemming from a 2017 judgment. The intermediary argues that allowing a credit bid would effectively reduce the pool available to satisfy its unsecured or undersecured claim and would prejudice its recovery, the report states. About Leisure Investments Holdings Leisure Investments Holdings LLC and affiliates are operating under the name "The Dolphin Company," manage over 30 attractions, including dolphin habitats, marinas, water parks, and adventure parks, located in eight countries across three continents. Their primary operations are based in Mexico, the United States, and the Caribbean, with locations in Jamaica, the Cayman Islands, the Dominican Republic, and St. Kitts. These attractions are home to approximately 2,400 animals from more than 80 species of marine life, including a variety of marine mammals such as dolphins, sea lions, manatees, and seals, as well as birds and reptiles. As of 2023, the marine mammal population at the Debtors' parks includes roughly 295 dolphins, 51 sea lions, 18 manatees, and 18 seals. Leisure Investments Holdings LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case 25-10606) on March 31, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million each. Honorable Bankruptcy Judge Laurie Selber Silverstein handles the case. The Debtors tapped Robert S. Brady, Esq., Sean T. Greecher, Esq., Allison S. Mielke, Esq., and Jared W. Kochenash, Esq. as counsels. The Debtors' restructuring advisor is RIVERON MANAGEMENT SERVICES, LLC. The Debtors' Claims & Noticing Agent is KURTZMAN CARSON CONSULTANTS, LLC d/b/a VERITA GLOBAL. LEXARIA BIOSCIENCE: Completes $4 Million Equity Financing --------------------------------------------------------- Lexaria Bioscience Corp. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that the Company entered into a securities purchase agreement with certain institutional investors pursuant to which the Company issued and sold to the investors: (i) in a registered direct offering, 2,666,667 shares of Common Stock, par value $0.001 per share of the Company at a price of $1.50 per share, and (ii) in a concurrent private placement, 2,666,667 common stock purchase warrants, exercisable for an aggregate of up to 2,666,667 shares of Common Stock, at an exercise price of $1.37 per share of Common Stock. The Shares were offered by the Company pursuant to the Company's shelf registration statement on Form S-3 (File 333-284407), initially filed by the Company with the Securities and Exchange Commission under the Securities Act of 1933, as amended, on January 22, 2025, and declared effective on January 30, 2025, and a related prospectus supplement, dated September 26, 2025. The Purchase Agreement contains customary representations, warranties and agreements by the Company, customary conditions to closing, indemnification obligations of the Company, including for liabilities arising under the Securities Act, other obligations of the parties and termination provisions. The representations, warranties and covenants contained in the Purchase Agreement were made only for the purposes of such agreement and as of the specific dates, were solely for the benefit of the parties to such agreement and may be subject to limitations agreed upon by the contracting parties. The Private Placement Warrants (and the shares of Common Stock issuable upon the exercise of the Private Placement Warrants) were not registered under the Securities Act, and were offered pursuant to an exemption from the registration requirements of the Securities Act provided under Section 4(a)(2) of the Securities Act and/or Rule 506 of Regulation D promulgated under the Securities Act. The Private Placement Warrants are exercisable upon issuance and will expire on the fifth anniversary of the effective date of the registration statement filed by the Company registering the resale of the shares of Common Stock underlying the Private Placement Warrants, and in certain circumstances may be exercised on a cashless basis. If the Company fails for any reason to deliver shares of Common Stock upon the valid exercise of the Private Placement Warrants, subject to its receipt of a valid exercise notice and the aggregate exercise price, by the time period set forth in the Private Placement Warrants, the Company is required to pay the applicable holder, cash, as liquidated damages as set forth in the Private Placement Warrants. The Private Placement Warrants also include customary buy-in rights in the event the Company fails to deliver shares of Common Stock upon exercise thereof within the time periods set forth in the Private Placement Warrants. Under the terms of the Private Placement Warrants, a holder will not be entitled to exercise any portion of any such Private Placement Warrant, if, upon giving effect to such exercise, the aggregate number of shares of Common Stock beneficially owned by the holder (together with its affiliates, any other persons acting as a group together with the holder or any of the holder's affiliates, and any other persons whose beneficial ownership of Common Stock upon would or could be aggregated with the holder's for purposes of Section 13(d) or Section 16 of the Securities Exchange Act of 1934, as amended) would exceed for the Private Placement Warrants, 4.99% of the number of shares of Common Stock outstanding immediately after giving effect to the exercise, as such percentage ownership is determined in accordance with the terms of such Private Placement Warrant, which percentage may be increased at the holder's election upon 61 days' notice to the Company subject to the terms of such Private Placement Warrants, provided that such percentage may in no event exceed 9.99%. On September 29, 2025, the Company closed the registered direct offering and the Private Placement Offering, raising gross proceeds of approximately $4.0 million before deducting placement agent fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from the Offering for working capital and other general corporate purposes. Pursuant to the terms of the Purchase Agreement, the Company is required within 15 days of the date of the Purchase Agreement, to file a registration statement on Form S-1 or other appropriate form if the Company is not then Form S-1 eligible registering the resale of the shares of Common Stock issued and issuable upon the exercise of the Private Placement Warrants. The Company is required to use commercially reasonable efforts to cause such Registration Statement to become effective within 45 days of the Closing Date of the Offering (or within 75 days following the Closing Date of the Offering in case of "full review" of the Registration Statement by the SEC), and to keep the Registration Statement effective at all times until no investor owns any Private Placement Warrants or shares issuable upon exercise thereof. Pursuant to the terms of the Purchase Agreement, and for a period of 60 days thereafter, subject to certain exceptions, the Company may not issue, enter into any agreement to issue or announce the issuance or proposed issuance of any shares of Common Stock upon or common stock equivalents, or file any registration statement or any amendment or supplement thereto, other than a prospectus supplement for the Offering, the Registration Statement for the registration of the shares of Common Stock issued and issuable upon the exercise of the Private Placement Warrants. In connection with the Offering, on August 12, 2025, the Company entered into an engagement agreement with H.C. Wainwright & Co., LLC. Pursuant to the terms of the Engagement Agreement, the Company agreed to pay the Placement Agent a cash fee equal to 7.0% of the gross proceeds of the Offering and to issue to the Placement Agent, or its designees, 93,333 common stock warrants of the Company to purchase up to 93,333 shares of Common Stock, which is equal to 3.5% of the aggregate number of Shares issued and sold on the Closing Date. The Placement Agent Warrants expire five years from the commencement of sales of the Offering and have an exercise price of $1.875 per share of Common Stock. In addition, the Company will reimburse the Placement Agent for non-accountable expense allowances of $20,000, accountable legal expenses, other out-of-pocket legal expenses incurred in connection with the Offering in the amount of up to $50,000 and $15,950 for clearing fees. Neither of the Placement Agent Warrants nor the shares of Common Stock issuable upon the exercise of the Placement Agent Warrants are registered under the Securities Act. The Placement Agent Warrants and the Placement Agent Warrant Shares were issued in reliance on the exemptions from registration provided by Section 4(a)(2) under the Securities Act. About Lexaria Headquartered in Kelowna, BC, Canada, Lexaria Bioscience Corp. -- http://www.lexariabioscience.com/-- is a biotechnology company developing the enhancement of the bioavailability of a broad range of fat-soluble active molecules and active pharmaceutical ingredients using its patented DehydraTECH drug delivery technology. DehydraTECH combines lipophilic molecules or APIs with specific long-chain fatty acids and carrier compounds that improve the way they enter the bloodstream, increasing their effectiveness and allowing for lower overall dosing while promoting healthier oral ingestion methods. Since inception, the Company has incurred significant operating and net losses. Net losses attributable to shareholders were $9.2 million and $3.6 million for the nine months ended May 31, 2025, and May 31, 2024, respectively. As of May 31, 2025, it had an accumulated deficit of $60.8 million. The Company expects to continue to incur significant operational expenses and net losses in the upcoming 12 months. Its net losses may fluctuate significantly from quarter to quarter and year to year, depending on the stage and complexity of its research and development studies and corporate expenditures, additional revenues received from the licensing of its technology, if any, and the receipt of payments under any current or future collaborations into which the Company may enter. The recurring losses and negative net cash flows raise substantial doubt as to the Company's ability to continue as a going concern. As of May 31, 2025, the Company had $6.74 million in total assets, $1.57 million in total liabilities, and total stockholders' equity of $5.17 million. LILY616 LLC: Court Denies Bid to Use Cash Collateral ---------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florida denied as moot the motion filed by Lily616, LLC to use cash collateral. The cash collateral order follows the court's order denying confirmation of the Debtor's Chapter 11 reorganization plan and granting the Debtor's motion to convert its Chapter 11 case to one under Chapter 7. About Lily616 LLC Lily616, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-01176) on April 14, 2025, listing up to $50,000 in assets and between $100,001 and $500,000 in liabilities. Judge Jason A Burgess oversees the case. The Debtor is represented by: Bryan K. Mickler, Esq. Mickler & Mickler Tel: 904-725-0822 Email: court@planlaw.com LUMEN TECHNOLOGIES: Level 3 Reprices $2.4B Credit Facilities ------------------------------------------------------------ Lumen Technologies, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that Level 3 Financing, Inc., an indirect wholly owned subsidiary of the Company and a direct wholly owned subsidiary of Level 3 Parent, LLC: (i) refinanced all the outstanding secured term B-3 loan facilities under its existing Credit Agreement, dated March 22, 2024, by and among Level 3, Level 3 Parent, Wilmington Trust, National Association, as administrative agent and collateral agent, and the lenders from time-to-time party thereto and (ii) entered into an amendment to the Existing Level 3 Credit Agreement (the transactions referred to in clauses (i) and (ii), the "Credit Facilities Transactions"). The Second Amendment amended the Existing Level 3 Credit Agreement to, among other things, reduce the pricing on Level 3's term loan facility, and to make related changes to effect such repricing. Immediately following the Credit Facilities Transactions, Level 3 had $2,400 million of outstanding borrowings under the Term Loan Facility. Borrowings under the Term Loan Facility will not amortize. Borrowings under the Term Loan Facility will be, at Level 3's option, either: (i) the base rate (which is the highest of (x) the overnight federal funds rate, plus 0.50%, (y) the prime rate on such day, and (z) the one-month Secured Overnight Financing Rate published on such date, plus 1.00%), plus an applicable margin, or (ii) one-, three- or six-month SOFR, plus an applicable margin. The applicable margin for SOFR loans under the Term Loan Facility will be 3.25%. The Term Loan Facility is subject to a SOFR floor of 0.00%. The Term Loan Facility matures on March 27, 2032. Level 3 may voluntarily prepay loans or reduce commitments under the Term Loan Facility, in whole or in part, subject to minimum amounts, with prior notice, but without premium or penalty (other than a 1.00% premium on any prepayment in connection with a repricing transaction prior to the date that is six months after the Amendment Date). Level 3 is required to prepay the Term Loan Facility with 100% of the net cash proceeds of certain asset sales and 100% of the net cash proceeds of certain debt issuances, in each case, subject to certain exceptions. The obligations under the Term Loan Facility are guaranteed by substantially all of Level 3's material, wholly-owned domestic subsidiaries, subject to certain customary exceptions. The Term Loan Facility is secured by a first priority lien on substantially all of Level 3's and the Guarantors' current and fixed assets (subject to certain exceptions), subject to certain permitted liens. The Term Loan Facility contains customary negative covenants, including, but not limited to, restrictions on the ability of Level 3 and its subsidiaries to merge and consolidate with other companies, incur indebtedness, grant liens or security interests on assets, pay dividends or make other restricted payments, optionally prepay or modify terms of certain junior indebtedness, sell or otherwise transfer certain assets, or enter into transactions with affiliates (in each case subject to permitted exceptions). The foregoing summary of the Second Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Second Amendment, which is available at https://tinyurl.com/yf45mh3b About Lumen Technologies Headquartered in Monroe, Louisiana, Lumen Technologies, Inc. -- lumen.com -- is a facilities-based technology and communications company that provides a broad array of integrated products and services to its domestic and global business customers and its domestic mass markets customers. The Company's platform empowers its customers to swiftly adjust digital programs to meet immediate demands, create efficiencies, accelerate market access, and reduce costs, which allows its customers to rapidly evolve their IT programs to address dynamic changes. As of June 30, 2025, it had $32.98 billion in total assets, $33.57 billion in total liabilities, and $595 million in total stockholders' deficit. * * * In July 2025, Fitch Ratings has placed the Long-Term Issuer Default Ratings (IDRs) of Lumen Technologies Inc., Level 3 Parent LLC, Level 3 Financing Inc., Qwest Corporation and related subsidiaries on Rating Watch Positive (RWP). The current Long-Term IDR for each rated entity is 'CCC+'. LUNAI BIOWORKS: Net Loss Widens to $178 Million in FY25 ------------------------------------------------------- Lunai Bioworks Inc. filed with the U.S. Securities and Exchange Commission its Annual Report on Form 10-K for the fiscal year ended June 30, 2025, reporting a net loss of $178.01 million and $88.43 million for the years ended June 30, 2025 and 2024, respectively. As of June 30, 2025, the Company had cash and cash equivalents of $92,700 and an accumulated deficit of $510.46 million and a working capital deficit of $28.11 million. Draper, Utah-based Sadler, Gibb & Associates, LLC, the Company's auditor since 2018, issued a "going concern" qualification in its report dated September 29, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2025, 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. Management has reduced overhead and administrative costs by streamlining the organization to focus on the development and validation of its AI-driven cancer diagnostics platform. The Company has tailored its workforce to focus on these activities. In addition, the Company intends to secure additional required funding through equity or debt financing. However, there can be no assurance that the Company will be able to obtain any sources of funding. Such additional funding may not be available or may not be available on reasonable terms, and, in the case of equity financing transactions, could result in significant additional dilution to the Company's stockholders. If the Company does not obtain required additional equity or debt funding, its cash resources will be depleted and it could be required to materially reduce or suspend operations, which would likely have a material adverse effect on its business, stock price and relationships with third parties with whom the Company has business relationships, at least until additional funding is obtained. If the Company does not have sufficient funds to continue operations, it could be required to seek bankruptcy protection or other alternatives that could result in its stockholders losing some or all of their investment in the Company. Funding that the Company may receive during the fiscal year 2026 is expected to be used to satisfy existing and future obligations and liabilities and working capital needs, to support commercialization of products, to conduct the clinical and regulatory work to develop its product candidates, and to begin building working capital reserves. A full-text copy of the Company's Form 10-K is available at: https://tinyurl.com/3r3pupmv About Lunai Bioworks Headquartered in Los Angeles, Calif., Lunai Bioworks Inc. (formerly Renovaro Inc.) is an AI-powered drug discovery and biodefense company pioneering safe and responsible generative biology. With proprietary neurotoxicity datasets, advanced machine learning, and a focus on dual-use risk management, Lunai is redefining how artificial intelligence can accelerate therapeutic innovation while safeguarding society from emerging threats. As of June 30, 2025, the Company had total assets of $8.23 million, $29.58 million in total liabilities, and $21.35 million in total shareholders' deficit. LUXURBAN HOTELS: Cohen Weiss Represents HTC and the Funds --------------------------------------------------------- Richard M. Seltzer, Matthew E. Stolz, and K. Jeff Wang, attorneys at Cohen, Weiss and Simon LLP ("CWS") filed a verified statement pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure to disclose that in the Chapter 11 cases of LuxUrban Hotels Inc. and affiliates, the firm represents the following creditors: 1. Hotel & Gaming Trades Council, AFL-CIO ("HTC") 707 8th Avenue New York, NY 10036 2. New York Hotel Trades Council and Hotel Association of NYC, Inc. Employee Benefit Funds (the "Funds") 305 W 44th Street New York, NY 10036 HTC and the Funds have claims against the Debtors. These claims arise from the Debtors' obligations arising under its collective bargaining agreement with HTC, the Industry-Wide Agreement (the "IWA"). The IWA sets out the terms and conditions of employment for four bargaining units of non-supervisory employees employed by the Debtors and represented by HTC. The IWA obligates the Debtors to make contributions to the Funds for health and welfare benefits for the HTC-represented employees. On information and belief, HTC's and the Funds' claims against the Debtors arose both before and during the one-year period prior to the filing of the case. CWS has previously represented HTC and the Funds in various bankruptcy matters. In this matter, CWS was engaged by HTC and the Funds to represent each in connection with the bankruptcy proceeding in September 2025 at the instance of each entity. The law firm can be reached at: Richard M. Seltzer, Esq. Matthew E. Stolz, Esq. K. Jeff Wang, Esq. Cohen, Weiss and Simon LLP 909 Third Avenue, 12th Floor New York, NY 10022 Phone: (212) 563-4100 Email: rseltzer@cwsny.com mstolz@cwsny.com jwang@cwsny.com About LuxUrban Hotels Inc. LuxUrban Hotels Inc. is a New York, NY-based hotel operator. LuxUrban Hotels Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-12000) on Sept. 14, 2025. In its petition, the Debtor estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. Leo Jacobs, Esq. of Jacobs P.C., is the Debtor's counsel, and David Goldwasser of FIA Capital is the financial advisor. Omni Agent Solutions is the Debtor's Claims Agent. MARLIN CONSTRUCTION: Hires David Jennis PA as Bankruptcy Counsel ---------------------------------------------------------------- Marlin Construction Group LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to hire David Jennis, P.A. d/b/a Jennis Morse as counsel. The firm will render these services: a. take all necessary action to protect and preserve the estate of the Debtor, including the prosecution of actions on its behalf, the defense of any actions commenced against the Debtor, negotiations concerning any litigation in which the Debtor may be involved, and objections, when appropriate, to claims filed against the estate; b. prepare, on behalf of the Debtor, any applications, answers, orders, reports, and/or papers in connection with the administration of the estate; c. counsel the Debtor with regard to its rights and obligations as a debtor-in-possession; d. prepare and file a chapter 11 plan; and e. perform all other necessary legal services in connection with this chapter 11 case. The firm's current hourly rates range from $125 to $250 for paraprofessionals to $350 to $595 for attorneys. The firm received a prepetition retainer in the amount of $20,000, plus $1,738 for the filing fee. As disclosed in a court filing, Jennis Morse is a "disinterested person" pursuant to Section 101(14) of the Bankruptcy Code. The firm can be reached through: Andrew J. Wit, Esq. Jennis Morse 606 East Madison Street Tampa, FL 33606 Tel: (813) 229-2800 Email: awit@jennislaw.com About Marlin Construction Group LLC Marlin Construction Group LLC is a construction company based in St. Petersburg, Florida. Marlin Construction Group LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-04985) on July 21, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100,000 and $500,000 each. Honorable Bankruptcy Judge Roberta A. Colton handles the case. The Debtor is represented by Andrew J. Wit, Esq. at Jennis Morse. MATADOOR RESTAURANT: Gets Final OK to Use Cash Collateral --------------------------------------------------------- The U.S. Bankruptcy Court for the District of South Carolina granted Matadoor Restaurant Group, LLC final approval to use cash collateral. The final order authorized the Debtor to use cash collateral consistent with the budget it filed on September 23. The Debtor may carry over unused line items in the budget to a subsequent week and may exceed any line item within the budget provided such variance is not in excess of 10% and may pay approved professional fees and expenses as a variance from the budget, provided that such variance does not exceed $10,000 per month and sufficient cash flow exists. All other provisions from the first interim order remain in effect. About Matadoor Restaurant Group LLC Matadoor Restaurant Group LLC, doing business as Del Taco, operates and manages franchised and proprietary restaurant concepts in the United States. The Company serves as a franchisee of Del Taco and operates The Matador, a full-service Mexican restaurant in Greenville, South Carolina. It functions under Red Door Brands, LLC, which oversees a portfolio of foodservice operations including additional national quick-service brands. Matadoor Restaurant Group sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.S.C. Case No. 25-02698) on July 15, 2025. In its petition, the Debtor reported estimated assts and liabilities between $1 million and $10 million. The Debtor is represented by: Christine E. Brimm, Esq. Barton Brimm, PA Tel: 803-256-6582 Email: cbrimm@bartonbrimm.com MATTAMY GROUP: Moody's Raises CFR to Ba1 & Alters Outlook to Stable ------------------------------------------------------------------- Moody's Ratings has upgraded Mattamy Group Corporation's corporate family rating to Ba1 from Ba2, probability of default rating to Ba1-PD from Ba2-PD, and senior unsecured notes ratings to Ba2 from Ba3. The outlook is changed to stable from positive. "The upgrade reflects Mattamy's leading market position in its Canadian markets, strong operating performance, growing scale, and commitment to maintaining a conservative financial policy with leverage (debt to book capitalization) below 35%" said Mikhil Mahore, Moody's Ratings analyst. RATINGS RATIONALE Mattamy Group Corporation (Ba1 CFR) benefits from: (1) geographic diversification across both Canada and the US with leading market share in key communities; (2) high gross margins compared to US peers, supported by a large, low-cost land position in the supply-constrained Greater Toronto Area (GTA); (3) Moody's expectations that debt to book capitalization will be around or below 35% in fiscal 2026 and 2027; and (4) strong revenue visibility underpinned by mostly a build-to-order long-term strategy and structural advantages in Canada's housing market. The company is constrained by: (1) affordability challenges negatively impacting new home sales demand and prices; (2) long land supply and land development strategy exposing the company to negative free cash flow; and (3) a lengthy entitlement process in Canada requiring the maintenance of a large land bank. Mattamy has good liquidity. As of May 2025, liquidity is supported by close to CAD 300 million in cash and fully available CAD1.5 billion revolving credit facilities expiring in November 2027. Uses are comprised of Moody's estimates of negative free cash flow of around CAD250 million and debt maturities of about CAD178 million related to project specific financings in the next four quarters. Mattamy has ample headroom under financial covenants in its credit agreements, which include debt to capitalization, interest coverage and minimum net worth. The company has strong sources of alternate liquidity to raise cash given its robust land inventory position, with assets largely unencumbered. The Ba2 rating on Mattamy's senior unsecured notes, one notch below the Ba1 CFR, reflects the notes' junior position relative to the secured debt in Mattamy's capital structure. The stable rating outlook reflects Moody's expectations that Mattamy will continue to sustain adjusted debt to book capitalization below 35%, with consolidated gross margins falling to the low-20s. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Mattamy's ratings could be upgraded if the company meaningfully increases its scale and improves its market positions in the US markets. An upgrade would also require maintenance of strong credit metrics, including homebuilding debt to book capitalization below 30% and EBIT interest coverage in the high single digits on a sustained basis. Finally, an upgrade would require maintenance of conservative financial policy, including strong free cash flow generation and liquidity. The ratings could be downgraded if gross margins fall well below 20%, homebuilding debt to book capitalization is maintained above 40%, EBIT interest coverage remains below 5.0x, or liquidity weakens. The ratings could also be downgraded if the company shifts to a more aggressive financial policy or recognizes major impairment charges. The principal methodology used in these ratings was Homebuilding and Property Development published in September 2025. 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. Mattamy Group Corporation, established in 1978 with headquarters in Toronto, Ontario, constructs single-family homes and high-rise buildings and has a presence in in Canada and the US. MAVERICK RESTAURANT: Gets Final Approval to Use Cash Collateral --------------------------------------------------------------- The U.S. Bankruptcy Court for the District of South Carolina granted Maverick Restaurant Group, LLC final approval to use cash collateral. The final order authorized the Debtor to use cash collateral consistent with the budget it filed on September 23, including adequate protection payments to Rocket Enterprises Ltd./RTC Investments LLC. The Debtor may carry over unused line items in the budget to a subsequent week and may exceed any line item within the budget provided such variance is not in excess of 10% and may pay approved professional fees and expenses as a variance from the budget, provided that such variance does not exceed $10,000 per month and sufficient cash flow exists. All other provisions of the first interim order entered on July 21 remain in effect. About Maverick Restaurant Group LLC Maverick Restaurant Group, LLC operates a portfolio of restaurant brands including Red Door Pizza and Red Door Sandwich, with its base of operations in Greenville, South Carolina. The company is affiliated with Red Door Brands, which manages multiple fast-casual and quick-service dining concepts across the Southeastern United States. Maverick Restaurant Group sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.S.C Case No. 25-02699) on July 15, 2025, listing between $1 million and $10 million in assts and liabilities. The petition was signed by Argus Wiley as manager. The Debtor is represented by: Christine E. Brimm, Esq. Barton Brimm, PA Tel: 803-256-6582 Email: cbrimm@bartonbrimm.com METRO MATTRESS: Wants to Close All Remaining Stores in Ch. 11 Case ------------------------------------------------------------------ Sheila Long O'Mara of Furniture Today reports that thirteen months after filing for Chapter 11 bankruptcy, Metro Mattress Corp. has asked a New York bankruptcy judge to approve the closure and liquidation of its remaining stores. In a motion filed October 3, 2025 with the U.S. Bankruptcy Court for the Northern District of New York, the mattress retailer said it has exhausted its funds and failed to attract a buyer despite extensive outreach. The company said it could no longer sustain operations or cover advertising and post-petition costs necessary to maintain its business. Metro Mattress, which sought Chapter 11 protection on Sept. 4, 2024, previously operated about 70 locations across New England and New York before the court approved the closure of roughly 30 stores earlier this year. Those closures were meant to concentrate efforts on profitable stores, but financial losses persisted. The retailer initially listed under $9 million in assets against more than $23 million in liabilities, and its latest filing shows a $3.7 million loss on $15 million in sales so far this 2025, according to report. According to court documents, Metro Mattress contacted 21 potential buyers, including financial and strategic investors, but received no viable offers. Its lender, Community Bank, N.A., has agreed to fund the company's wind-down and liquidation. The proposed plan includes consolidating remaining inventory into five or six stores for a five-week liquidation sale, followed by bulk asset sales from its warehouse. Affiliates that own most of the store properties have agreed to waive rent during the process to help maximize recoveries. The company's motion asks the court to authorize asset sales free and clear of liens, waive certain state and local liquidation-sale laws, and prevent interference from landlords or local authorities. A hearing on the motion is scheduled for October 7, 2025. If approved, the liquidation will close the book on Metro Mattress' nearly 50-year run as a leading bedding retailer in the Northeast, a brand that once operated 70 stores across five states since its founding in 1976, the report relays. About Metro Mattress Corp. Metro Mattress Corp. is specialty retailer of mattresses serving New York, Connecticut, New Hampshire, Massachusetts, and Rhode Island customers. Metro Mattress Corp. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D.N.Y. Case No. 24-30773) on Sept. 4, 2024. In the petition filed by Dino Cifelli, chief executive officer, the Debtor estimated assets between $1 million and $10 million and liabilities between $10 million and $50 million. Judge Wendy A. Kinsella oversees the case. The Debtor tapped Barclay Damon LLP as bankruptcy counsel, Mackenzie Hughes LLP as special labor and employment counsel, and NextPoint LLC as financial advisor. METROPOLITAN LIGHTING: Taps Arthur Lander CPA PC as Accountant -------------------------------------------------------------- Metropolitan Lighting Co., Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of Virginia to employ Arthur Lander, C.P.A., P.C. as accountant. The firm's services include compiling books and records; preparing and filing all necessary tax returns on behalf of the debtor-in-possession; advising Debtor of his duties and responsibilities under the Internal Revenue Code; work with the Debtor in assessing the Debtor's financial condition; preparing monthly reports, and other matters that arise in the administration of this Chapter 11 case in bankruptcy relating to accounting matters. The firm will be paid at these rates: Arthur Lander, CPA $650 per hour Chris Mueller $200 per hour Scott Johnson $180 per hour Bookkeeper $85 per hour Monthly Reports $200 a month Mr. Lander 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: Arthur Lander, Esq. Arthur Lander, C.P.A., P.C. 300 N. Washington St., #104 Alexandria, VA 222314 Telephone: (703) 486-0700 Facsimile: (703) 527-7207 Email: law@businesslegalservicesinc.com About Metropolitan Lighting Co., Inc. Metropolitan Lighting Co. Inc. is a lighting design firm that provides planning, design, and custom fixture development for a range of environments. The Company works with owners, architects, and contractors to create lighting systems for offices, restaurants, hotels, retail spaces, residences, and churches, and also offers fixture preservation and restoration services. Its expertise spans from pre-construction budgeting to the rejuvenation of existing fixtures, with a portfolio that includes both commercial and residential projects. Metropolitan Lighting Co. Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Va. Case No. 25-11857) on September 8, 2025. In its petition, the Debtor reports total assets of $319,919 and total liabilities of $1,099,100. The Debtor is represented by Richard G. Hall, Esq. at RICHARD HALL. MK RE HOLDINGS: Iana Vladimirova Named Subchapter V Trustee ----------------------------------------------------------- The U.S. Trustee for Region 5 appointed Iana Vladimirova as Subchapter V trustee MK RE Holdings, LLC. Ms. Vladimirova will be compensated at $450 per hour for her services as Subchapter V trustee and will be reimbursed for work related expenses incurred. Ms. Vladimirova declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Iana A. Vladimirova Stafford Rosenbaum 222 West Washington Avenue, Suite 900 Madison, Wisconsin 53701-1784 608.259.2639 (Phone) 608.259.2600 (Fax) ivladimirova@staffordlaw.com About MK RE Holdings LLC MK RE Holdings, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. E.D. Wis. Case No. 25-25541) on September 30, 2025, listing between $1 million and $10 million in assets and between $500,001 and $1 million in liabilities. Judge G. Michael Halfenger presides over the case. Evan Schmit, Esq., at Kerkman & Dunn represents the Debtor as legal counsel. MONDAK PORTABLES: Hires Ascend Business as Financial Advisor ------------------------------------------------------------ MonDak Portables, LLC seeks approval from the U.S. Bankruptcy Court for the District of North Dakota to hire Ascend Business Services, LLC as financial advisors. The firm will render these services: a. analyze the Debtor's current, historical, and projected financial condition, results of operations, and cash flows to assess Debtor's current operations and advise and assist Debtor in developing a plan of reorganization and a long term business plan; b. assist the Debtor with drafting Monthly Operating Statements, reports, the Plan, and any other necessary filings which may be necessary to the Chapter 11 Case; c. prepare variance reports, which will compare actual cash activity to budgeted cash activity for each entity; d. participate in hearings before the Bankruptcy Court related to financial matters as needed; and e. provide other necessary matters for Debtor as debtor-in-possession, which may be necessary to the Chapter 11 Case. Ascend's proposed compensation is $325.00 per hour for its professionals. As disclosed in the court filings, Ascend is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code. The firm can be reached through: Roger Ferrante Ascend Business Services, LLC 6260 Riverside Plaza Lane NW, Suite A Albuquerque, NM 87120 Phone: (505) 244-2000 Phone: (505) 836-0306 Email: boconnell@atrisco.org About MonDak Portables, LLC MonDak Portables, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. N.D. Case No. 25-30429) on September 29, 2025, listing $1,000,001 to $10 million in both assets and liabilities. Judge Shon Hastings presides over the case. Christianna A. Cathcart, Esq. at The Dakota Bankruptcy Firm represents the Debtor as counsel. MONDAK PORTABLES: Seeks to Hire Carothers & Hauswirth as Counsel ---------------------------------------------------------------- MonDak Portables, LLC seeks approval from the U.S. Bankruptcy Court for the District of North Dakota to hire Carothers & Hauswirth LLP as counsel. The firm's services include: a. advising the Debtor with respect to its powers and duties as a debtor-in-possession in the continued operation of its business and management of its property; b. assisting the Debtor in negotiation and documentation of financing arrangements, debt restructuring, and cash collateral orders; c. assisting the Debtor with the preparation of its Schedules, Statement of Financial Affairs, Applications, Answers, Orders, reports, and any other necessary legal pleadings and papers; d. providing legal services to Debtor in connection with the formulation and implementation of a plan of reorganization; and e. performing all other legal services for Debtor as debtor-in-possession, which may be necessary. The firm's current hourly rates: Attorney Time (Partners and Associates) $300 to $525 Paralegals and Law Clerks $100 to $150 Carothers & Hauswirth received a retainer of $17,262. As disclosed in the court filings, Carothers & Hauswirth is a "disinterested" persons, as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Patrick W. Carothers, Esq. Gregory W. Hauswirth, Esq. CAROTHERS & HAUSWIRTH LLP Foster Plaza 10 680 Andersen Drive, Suite 230 Pittsburgh, PA 15220 Telephone: 412-414-6996 Facsimile: 412-910-7510 Email: pcarothers@ch-legal.com Email: ghauswirth@ch-legal.com About MonDak Portables, LLC MonDak Portables, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. N.D. Case No. 25-30429) on September 29, 2025, listing $1,000,001 to $10 million in both assets and liabilities. Judge Shon Hastings presides over the case. Christianna A. Cathcart, Esq. at The Dakota Bankruptcy Firm represents the Debtor as counsel. MONDAK PORTABLES: Seeks to Hire Dakota Bankruptcy as Local Counsel ------------------------------------------------------------------ MonDak Portables, LLC seeks approval from the U.S. Bankruptcy Court for the District of North Dakota to hire The Dakota Bankruptcy Firm as local reorganization counsel. The firm will render these services: a. advise the Debtor and its lead bankruptcy counsel on the Local Rules and customs of this Court; b. review pleadings, motions, and other court papers on behalf of the Debtor; c. assist with the filing of documents with this Court; and d. address such other matters as may be necessary and appropriate in connection with this case. The hourly rates of the firm's counsel and staff are as follows: Partner $450 Associate $250 Paralegal $100 Maurice VerStandig, Esq., an attorney at The Dakota Bankruptcy Firm, disclosed in a court filing that the firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Maurice B. VerStandig, Esq. The Dakota Bankruptcy Firm 1630 1st Avenue N., Suite B PMB 24 Fargo, ND 58102 Telephone: (701) 394-3215 Email: mac@dakotabankruptcy.com About MonDak Portables, LLC MonDak Portables, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. N.D. Case No. 25-30429) on September 29, 2025, listing $1,000,001 to $10 million in both assets and liabilities. Judge Shon Hastings presides over the case. Christianna A. Cathcart, Esq. at The Dakota Bankruptcy Firm represents the Debtor as counsel. MONTEREY BAY: Seeks to Hire Marc Voisenat as Bankruptcy Counsel --------------------------------------------------------------- Monterey Bay Horsemanship & Therapeutic Center seeks approval from the U.S. Bankruptcy Court for the Northern District of California to hire Marc Voisenat to handle its Chapter 11 case. Mr. Voisenat will be paid at his hourly rate of $450. He also received a retainer of $18,000 from Regan Courtney Catanzaro, daughter of Molly Catanzaro, a member of the Debtor. Mr. Voisenat 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: Marc Voisenat, Esq. 2329A Eagle Avenue Alameda, CA 94501 Telephone: (510) 263-8664 Facsimile: (510) 272-9158 About Monterey Bay Horsemanship & Therapeutic Monterey Bay Horsemanship & Therapeutic Center sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Calif. Case No. 25-51429) on September 16, 2025, with $100,001 to $500,000 in assets and liabilities. Judge M. Elaine Hammond presides over the case. Marc Voisenat, Esq., at the Law Offices of Marc Voisenat represents the Debtor as bankruptcy counsel. MOUNTAIN VIEW: Cash Collateral Hearing Set for Oct. 30 ------------------------------------------------------ The U.S. Bankruptcy Court for the Northern District of Texas is set to hold a hearing on October 30 to consider another extension of Mountain View Midstar, LLC's authority to use cash collateral. The Debtor was previously authorized to use the cash collateral of United Texas Bank pursuant to the court's second interim order issued on September 30. The September 30 order approved the Debtor's interim use of cash collateral to pay the expenses set forth in its 13-week budget, which projects total operational expenses of $115,828.40. The order granted United Texas Bank replacement liens on post-petition rents, products, and profits from the Debtor's mall property, and a superpriority administrative expense claim as adequate protection. Prior to the petition date, the Debtor and United Texas Bank entered into a loan agreement for $16.8 million to refinance debt incurred in purchasing the Mountain View Mall, a shopping center in Ardmore, Oklahoma. In recent years, the Debtor has faced a significant revenue shortfall from mall operations, resulting in insufficient funds to meet debt obligations to United Texas Bank, which holds a first-priority lien on the property. Despite over a year of negotiations, the Debtor and the bank have reached a stalemate in achieving an acceptable agreement. On July 11, United Texas Bank filed a lawsuit in Oklahoma to foreclose on the mall and appoint a receiver. On the same date, United Texas Bank filed a lawsuit in Texas to collect on its pre-bankruptcy debt, prompting the Debtor's expedited bankruptcy filing. United Texas Bank is represented by: Jason M. Rudd, Esq. Scott D. Lawrence, Esq. Ethan A. Minshull, Esq. Catherine A. Curtis, Esq. Meghan D. Young, Esq. Wick Phillips Gould & Martin, LLP 3131 McKinney Avenue, Suite 500 Dallas, TX 75204 Phone: (214) 692-6200 Fax: (214) 692-6255 jason.rudd@wickphillips.com scott.lawrence@wickphillips.com ethan.minshull@wickphillips.com catherine.curtis@wickphillips.com meghan.young@wickphillips.com About Mountain View Midstar LLC Joseph Mountain View Midstar LLC is a real estate company that leases nonresidential properties, including land and other commercial parcels not classified under traditional building categories. The Company operates in Hurst, Texas, and is associated with the Mountain View Mall and Shops at Ardmore. The Debtor sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-42648) on July 22, 2025. In its petition, the Debtor reported between $10 million and $50 million in assets and liabilities. The Debtor is represented by Joseph Acosta, Esq., at Condon Tobin. MYSTERIOUS TRANSPORTATION: Seeks Chapter 7 Bankruptcy in Texas -------------------------------------------------------------- On October 3, 2025, Mysterious Transportation LLC sought Chapter 7 bankruptcy protection in the Southern District of Texas. The filing indicates total debts estimated between $1 million and $10 million and with 1 and 49 creditors. About Mysterious Transportation LLC Mysterious Transportation LLC provides transportation services for both general and intermodal freight. Mysterious Transportation LLC sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case. No. 25-35844) on October 3, 2025. In its petition, the Debtor reports estimated assets up to $100,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Eduardo V. Rodriguez handles the case. The Debtor is represented by Reese W. Baker, Esq. of Baker & Associates. NASITRA LLC: Seeks to Hire Baker & Associates as Attorney --------------------------------------------------------- Nasitra LLC 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) presenting analysis of the financial situation, and rendering advice and assistance to the Debtor; (b) advising the Debtor with respect to its duties as debtor; (c) preparing and filing of all appropriate petitions, schedules of assets and liabilities, statements of affairs, answers, motions and other legal papers; (d) representing the Debtor at the first meeting of creditors and such other services as may be required during the course of the bankruptcy proceedings; (e) representing the Debtor in all proceedings before the Court and in any other judicial or administrative proceeding where the rights of the Debtor may be litigated or otherwise affected, including without limitation all adversary proceedings; (f) preparing and filing of a Disclosure Statement (if required) and Chapter 11 Plan of Reorganization; and (g) assisting the Debtor in any matters relating to or arising out of the captioned case. Prior to the filing, the firm received $20,000, plus $1,738 of filing fee. Baker & Associates 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: Reese W. Baker, Esq. BAKER & ASSOCIATES 950 Echo Lane, Suite 300 Houston, TX 77024 Telephone: (713) 869-9200 Facsimile: (713) 869-9100 About Nasitra LLC Nasitra LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-35828) on Oct. 2, 2025, listing $100,001 to $500,000 in assets and $1,000,001 to $10 million in liabilities. Reese W Baker, Esq. at Baker & Associates represents the Debtor as counsel. NASITRA LLC: Voluntary Chapter 11 Case Summary ---------------------------------------------- Debtor: Nasitra LLC America's Backyards & Outdoor Living 5002 Business Park Dr Richmond, TX 77469 Business Description: Nasitra LLC, based in Richmond, Texas, operates in the outdoor furniture and home decor sector through its brand America's Backyards & Outdoor Living, supplying casual outdoor furnishings and accessories. The Company serves individual customers and commercial clients across the United States. Chapter 11 Petition Date: October 2, 2025 Court: United States Bankruptcy Court Southern District of Texas Case No.: 25-35828 Debtor's Counsel: Reese Baker, Esq. BAKER & ASSOCIATES 950 Echo Ln Ste 300 Houston TX 77024-2824 Email: courtdocs@bakerassociates.net Estimated Assets: $100,000 to $500,000 Estimated Liabilities: $1 million to $10 million The petition was signed by John Hunt as manager. The Debtor failed to attach a list of its 20 largest unsecured creditors to the petition. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/TCDHSEQ/Nasitra_LLC__txsbke-25-35828__0001.0.pdf?mcid=tGE4TAMA NEAREST GREEN DISTILLERY: Shows Stabilization Signs in Receivership ------------------------------------------------------------------- Chanelle Hayes of AfroTech reports that weeks into its court-supervised receivership, Uncle Nearest, the Tennessee whiskey brand founded to honor the legacy of master distiller Nearest Green, is beginning to show signs of recovery. In a recent court filing, Receiver Phillip G. Young Jr. expressed optimism about the company's outlook, describing its prospects as "very good," according to the Moore County Observer, according to the report. His assessment suggests that Uncle Nearest may be able to reorganize successfully rather than face liquidation. Filed on October 1, 2025 in U.S. District Court, Young's report states that the company still holds "substantial value" and that a forced liquidation would be unnecessary. While acknowledging significant financial and operational hurdles, he said the whiskey maker's core business remains strong enough to support a potential turnaround. "The opportunity for the company's successful emergence from receivership is very good," Young concluded, reflecting cautious optimism about Uncle Nearest's future. The report also outlines ongoing challenges, including incomplete accounting records, pending legal disputes, and the need to rebuild relationships with distributors and investors. Despite these obstacles, progress has been noted in stabilizing the company's operations. AfroTech previously reported that founder Fawn Weaver reaffirmed her dedication to the brand, attributing earlier financial discrepancies to the actions of a former CFO. The receivership followed a lawsuit filed by Farm Credit Mid-America, a Kentucky-based lender, alleging Uncle Nearest defaulted on more than $100 million in loans. The lender also accused company leaders of mismanagement, including inflating whiskey barrel valuations and using company funds for personal real estate purchases. Farm Credit is now seeking control of the 458-acre Nearest Green Distillery in Shelbyville, Tennessee, and related real estate holdings. In response, Judge Charles E. Atchley Jr. appointed Young to take control of the company’s assets and operations, the report states. Since his appointment, Young has taken swift actions to stabilize the brand, including cutting 12 staff positions, regaining control of bank accounts, resuming stalled whiskey shipments, and repairing relationships with key distributors and investors. He acknowledged that limited cash flow was among the most pressing challenges but noted that operations and investor engagement are showing early signs of improvement, according to report. Young also reported lingering complications, including missing shareholder documentation and deleted financial data linked to a former employee. While investigations continue, he stated there is no evidence implicating current management. To strengthen liquidity, Young intends to sell non–income-generating assets, including a cognac château, within the next quarter. His goal is to bring the receivership to a close by mid-2026, either through refinancing or a full sale of the company. About Nearest Green Distillery Nearest Green Distillery, also known as Uncle Nearest Distillery, is a Shelby, Tennessee-based distillery. NEIMAN MARCUS: Judge Set to Approve Trust's Revised Payout Plan --------------------------------------------------------------- Emlyn Cameron of Law360 reports that on October 8, 2025, a Texas bankruptcy judge said, he would approve the liquidating trustee's plan for distributing funds to unsecured creditors in Neiman Marcus' Chapter 11 case, allowing most of the trustee's requested terms while removing the proposed abbreviated deadline for unclaimed funds to revert to the trust. The judge, however, blocked the trustee's plan to impose an abbreviated deadline for unclaimed funds to return to the trust. The forthcoming finalized order will let the trustee move forward with distributions largely as proposed, while addressing concerns about the treatment of unclaimed funds. About Neiman Marcus Group Neiman Marcus Group LTD, LLC -- https://www.neimanmarcus.com/ -- is a luxury omni-channel retailer conducting store and online operations principally under the Neiman Marcus, Bergdorf Goodman, and Last Call brand names. It also operates the Horchow e-commerce website offering luxury home furnishings and accessories. Since opening in 1907 with just one store in Dallas, Neiman Marcus and its affiliates have strategically grown to 67 stores across the United States. Weeks after being forced to temporarily shutter stores due to the coronavirus pandemic, Neiman Marcus Group and 23 affiliates sought Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 20-32519) on May 7, 2020, after reaching an agreement with a significant majority of our creditors to undergo a financial restructuring that will substantially reduce the Company's debt load, and provide access to considerable financing to ensure business continuity. Kirkland & Ellis LLP is serving as legal counsel to the Company, Lazard Ltd. is serving as the Company's investment banker, and Berkeley Research Group is serving as the Company's financial advisor. Stretto is the claims agent, maintaining the page https://cases.stretto.com/NMG Judge David R. Jones oversees the cases. The Extended Term Loan Lenders are represented by Wachtell, Lipton, Rosen & Katz as legal counsel, and Ducera Partners LLC as investment banker. The Noteholders are represented by Paul, Weiss, Rifkind, Wharton & Garrison LLP as legal counsel and Houlihan Lokey as investment banker. NEP/NCP HOLDCO: Moody's Puts 'Caa1' CFR on Review for Upgrade ------------------------------------------------------------- Moody's Ratings placed NEP/NCP Holdco., Inc.'s (NEP) Caa1 Corporate Family Rating, and Caa1-PD Probability of Default Rating on review for upgrade following the company's announcement [1] of a recapitalization transaction intended to refinance the company's 2026 debt maturities. Previously, the outlook for NEP was stable. Concurrently, Moody's assigned a B3 rating to the company's proposed backed senior secured first lien bank credit facilities issued by NEP and NEP Europe Finco B.V. (Finco). The following ratings remain unchanged and will be withdrawn upon the full repayment at close: NEP's existing backed senior secured first lien bank credit facilities Caa1 ratings, NEP's existing backed senior secured second lien term loan Caa3 rating, and Finco's Caa1 backed senior secured first lien term loan rating. The outlook on NEP's subsidiary NEP Europe Finco B.V. (Finco) remains unchanged at stable. The rating actions are prompted by NEP's launch of a recapitalization transaction, which includes a new senior secured first lien bank credit facility comprised of approximately $1,870 million USD-equivalent 6-year first lien term loans B issued by NEP and Finco and a $300 million 5-year revolver (undrawn at close) issued by NEP as well as a new fully committed $700 million preferred equity issuance. NEP plans to use the net proceeds from the preferred equity and the new term loans to repay its approximately $2.4 billion in debt due in 2026 issued by NEP and Finco. The revolving credit facility will be upsized to $300 million (undrawn at close) from $245 million currently (of which $199 million was outstanding as of June 30, 2025). Governance considerations are central to the rating actions. If completed as proposed, the recapitalization would be credit positive because it improves liquidity, reduces cash interest expense and eliminates near term refinancing risks by extending access to external revolving credit facility to 2030 from 2026 and moving funded debt maturities to 2031. Pro forma for the refinancing, NEP's debt burden will be reduced by $700 million or nearly 30%, resulting in pro forma June 2025 LTM Debt/EBITDA of 5.1x down from 6.8x for the same period (both metrics are Moody's adjusted, with 100% equity credit given to the existing and proposed preferred equity). The stronger balance sheet would enhance NEP's ability to invest in growth projects. If the planned recapitalization fails, default risk will increase significantly because NEP and Finco's approximately $2.4 billion May-October 2026 maturities will remain, putting pressure on ratings. The transaction benefits are tempered by a high PIK coupon (SOFR+15%) on the new preferred equity issued at the indirect parent company, NEP Group Holdings, Inc. The non-cash dividend option helps NEP maintain liquidity; however, the PIK feature leads to ongoing accretion. In addition to the credit positive impact of the refinancing, the rating actions consider NEP's improving operating performance and more disciplined approach to capital spending, which Moody's expects will continue over the next 12-18 months. RATINGS RATIONALE The current Caa1 (on review for upgrade) CFR reflects the company's concentrated market scope, high leverage, heavy cash interest burden, weak interest coverage and capital-intensive business model that constrains free cash flow. NEP's focus on clients in the media and entertainment sector leaves the company exposed to a growing, but somewhat cyclical market that has exhibited elements of softness in prior economic downturns. NEP's credit profile is supported by its strong global position in the niche video production industry, diversified blue-chip customer base with long-standing relationships and low customer concentration. NEP's fleet of mobile broadcast trucks and engineering expertise provide for a strong value proposition to its customers and lends tangible asset value, supporting the rating. Furthermore, NEP facilitates the viewing of live events, a service Moody's considers key to content producers and content distributors. This positions the company well regardless of how the consumption and delivery of media evolves and therefore supports sustainability of earnings. To the extent the proposed transactions are completed timely, consistent with the proposed terms and absent any other material changes to the credit profile, Moody's would consider upgrading NEP's corporate family rating and probability of default rating by one notch to B3 and B3-PD, respectively, with a stable outlook. The B3 rating on the proposed bank credit facilities reflects the expected post-transaction credit profile of the company consistent with Moody's current expectation for a post-recap B3 CFR, assuming timely close of the proposed transactions on current terms. The rating also reflects the post-recap probability of default of the company, an average expected family recovery rate of 50% given there is only one class of debt and the term loans do not have financial maintenance covenants. Marketing terms for the new credit facilities (final terms may differ materially) include the following: Incremental pari passu debt capacity up to the greater of $225 million and 50% of consolidated EBITDA, plus unlimited amounts subject to 4.50x first lien net leverage ratio. There is an inside maturity sublimit up to the greater of $225 million and 50% of consolidated EBITDA. A "blocker" provision restricts the transfer or the exclusive licensing of material intellectual property to any subsidiary or affiliate of the company that is not a loan party or to unrestricted subsidiaries. Subject to exceptions to be disclosed in the final documentation, material intellectual property may be transferred to a third party only on an arm's length terms, for fair market value and the net cash proceeds received will be subject to mandatory prepayment provisions. Investments in and designations of unrestricted subsidiaries may only be made in reliance on certain baskets to be disclosed in the final documentation, with no reclassifications permitted. The credit agreement is expected to provide some limitations on up-tiering transactions, requiring the consent of each directly and adversely affected lender for amendments that subordinate the debt or the liens securing any of the Credit Facilities, subject to right of first offer provisions. Amounts up to 100% of unused capacity from the builder basket and certain RP carve-outs may be reallocated to incur debt. A comprehensive review of all credit ratings for the respective issuer(s) has been conducted during a rating committee. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The review for upgrade of NEP's CFR and PDR will focus on the company's successful execution of the refinancing and the preferred equity raise. If the refinancing and equity raise are completed on a timely basis based on the proposed terms, Moody's would consider an upgrade to a B3 CFR and B3-PD PDR. If the company fails to complete the proposed refinancing, the existing Caa1 CFR, Caa1-PD PDR, Caa1 existing first lien bank credit facility rating and Caa3 second lien bank credit facility rating would have downward pressure. The principal methodology used in these ratings was Business and Consumer Services published in November 2021. 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. Based in Pittsburgh, PA, NEP/NCP Holdco., Inc. (NEP) is an indirect subsidiary of NEP Group, Inc., a provider of outsourced media services necessary for the delivery of live broadcast of sports and entertainment events to television and cable networks, television content providers and sports/entertainment producers. The company is owned primarily by affiliates of the Carlyle Group. NEP's LTM June 2025 revenue was approximately $1.8 billion. NEW AGE FLOORING: Seeks to Tap EmergeLaw PLC as Bankruptcy Counsel ------------------------------------------------------------------ New Age Flooring, LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Tennessee to hire EmergeLaw, PLC as counsel. The firm's services include: a. providing legal advice with respect to the rights, powers and duties of Debtors in the management of their property; b. investigating and, if necessary, instituting legal action on behalf of the Debtors to collect and recover assets of the estates of Debtors; c. preparing all necessary pleadings, orders and reports with respect to this proceeding and to render all other necessary or proper legal services; d. assisting and counseling the Debtors in the preparation, presentation and confirmation of their plan; e. representing the Debtors as may be necessary to protect their interests; and f. performing all other legal services that may be necessary and appropriate in the general administration of the Debtors' estates. The firm's hourly rates are: Robert Gonzales $750 Hannah Berny $475 Prior to the Petition Date, the firm received $42,476 from the Debtor and $11,000 from Vivian Williams, for a total of $53,476. Robert Gonzales, Esq., a partner at EmergeLaw, disclosed in a court filing that the firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Robert J. Gonzales, Esq. Hannah L. Berny, Esq. EMERGELAW, PLLC 4235 Hillsboro Pike, Suite 350 Nashville, TN 37215 Tel: (615) 815-1535 Email: robert@emerge.law hannah@emerge.law About New Age Flooring, LLC New Age Flooring, LLC provides residential and commercial remodeling services, specializing in flooring installation, fence construction, painting, and whole-home renovations. New Age Flooring, LLC sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Tenn. Case No. 25-04056) on September 26, 2025, listing $100,000 to $500,000 in assets and $1 million to $10 million in liabilities. The petition was signed by Michael Brandon Williams as president. Judge Charles M Walker presides over the case. Robert J. Gonzales, Esq. at EMERGELAW, PLC represents the Debtor as counsel. NORDICUS PARTNERS: AC Nordic ApS Holds 17.42% Equity Stake ---------------------------------------------------------- AC Nordic ApS disclosed in a Schedule 13D (Amendment No. 1) filed with the U.S. Securities and Exchange Commission that as of July 30, 2025, it beneficially owns 3,119,335 Common Stock shares of Nordicus Partners Corp, representing 17.42% of the outstanding shares (based on 17,901,551 shares outstanding as of August 26, 2025). AC Nordic ApS acquired and disposed of shares through various private transactions as part of a long-term strategy for asset diversification and liquidity. AC Nordic ApS may be reached through: Torben Steen Jensen Strandvejen 60, 5. DK-2900 Hellerup, Denmark Tel: +45 31 38 08 34 A full-text copy of AC Nordic ApS's SEC report is available at: https://tinyurl.com/4vhvy9tu About Nordicus Partners Headquartered in Beverly Hills, Calif., Nordicus Partners Corporation is a financial consulting company specializing in providing Nordic companies with the best possible conditions to establish themselves in the U.S. market. The Company leverages management's combined 90+ years of experience in the corporate sector, serving in various capacities both domestically and globally. Additionally, Nordicus operates as a business incubator, offering support resources and services such as office space, legal and accounting services, and marketing expertise to facilitate a smooth transition for companies entering the U.S. marketplace. Spokane, Washington-based Fruci & Associates II, PLLC, the Company's auditor since 2023, issued a "going concern" qualification in its report dated July 29, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2025, citing that the Company has nominal revenue and has incurred losses since inception resulting in an accumulated deficit. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company's recent acquisitions, its generating profitable operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next 12 months with existing cash on hand and the private placement of Common Stock. As of March 31, 2025, the Company had $70.2 million in total assets, against $10.4 million in total liabilities. NORTH WHITEVILLE: Gets One-Month Extension to Use Cash Collateral ----------------------------------------------------------------- North Whiteville Urgent Care & Family Practice, PA received fifth interim approval from the U.S. Bankruptcy Court for the Eastern District of North Carolina, Wilmington Division to use cash collateral. The Debtor may use cash collateral as set forth in the budget covering October 1 to 31, with a 10% variance per line item. The budget projects total operational expenses of $172,689. As adequate protection, the liens of secured creditors will extend to post-petition assets, but only to the extent such liens were valid, perfected, and enforceable pre-bankruptcy. The Debtor reserves the right to challenge the validity and priority of such liens. The order remains effective until October 31, unless terminated earlier or modified. The next hearing is scheduled for October 30. About North Whiteville Urgent Care & Family Practice PA North Whiteville Urgent Care & Family Practice, PA is a medical services provider. North Whiteville sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.C. Case No. 25-02217) on June 12, 2025, listing under $1 million in both assets and liabilities. Judge David M. Warren handles the case. The Debtor tapped Christian B. Felden, Esq., at Felden & Felden, PA as legal counsel and Streeter Tax Consultants as accountant. NOVA LIFESTYLE: Unit Invests $5.7M in Fund Holding SpaceX Shares ---------------------------------------------------------------- Nova LifeStyle, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that on September 25, 2025, Nova Furniture Limited (the "Company"), a company incorporated in the British Virgin Islands and a wholly owned subsidiary of Nova LifeStyle entered into a Subscription Agreement with Preamble Capital, A Series of CGF2021 LLC, a Delaware Limited Liability Company (the "Fund"). Pursuant to the Agreement, Nova Furniture Limited subscribes 99.815% interest in the Fund in an amount equal to $5,664,500.05 and will become a member of the Fund and be bound by the LLC Agreement as a member of the Fund. Sydecar LLC, a Delaware limited liability company, is the administrator of the Fund. The applicable management fee percentage for Nova Furniture Limited is 0%. The Fund will use the Subscription Amount to subscribe approximately 6.667% interest of certain fund that holds an aggregate of 353,772 shares of Common Stock of Space Exploration Technologies Corp., a Texas corporation, comprising of 121,805 shares of Class A Common Stock and 231,967 shares of Class C Common Stock of Space X. The Agreement is available at https://tinyurl.com/3f7e3a5e About Nova Lifestyle Headquartered in Commerce, Calif., Nova LifeStyle, Inc. is a distributor of contemporary styled residential and commercial furniture incorporated into a dynamic marketing and sales platform offering retail as well as online selection and global purchase fulfillment. The Company monitors popular trends and products to create design elements that are then integrated into the Company's product lines that can be used as both stand-alone or whole room and home furnishing solutions. Through its global network of retailers, e-commerce platforms, stagers, and hospitality providers, Nova LifeStyle also sells (through an exclusive third-party manufacturing partner) a managed variety of high-quality bedding foundation components. Singapore-based Enrome LLP, 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 fiscal year ended December 31, 2024, citing that the Company incurred a net loss and operating cash outflow of $5,561,705 and $1,391,779 respectively for the year ended December 31, 2024 and accumulated deficit of $49,991,515 for the year ended December 31, 2024. These factors, raise substantial doubt about its ability to continue as going concern. As of June 30, 2025, Nova LifeStyle had $11,634,504 in total assets, $5,087,783 in total liabilities, and $6,546,721 in total stockholders' deficit. NOW SOLUTIONS: Seeks to Hire Tittle Law Firm as Bankruptcy Counsel ------------------------------------------------------------------ NOW Solutions Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of Texas to employ Tittle Law Firm, PLLC as counsel. The firm will render these services: (a) provide legal advice with respect to the Debtor's powers and duties as debtor-in-possession in the continued operation of its business and the management of its property; (b) take all necessary action to protect and preserve the Debtor's estate; (c) prepare on behalf of the Debtor necessary motions, answers, orders, reports, and other legal papers in connection with the administration of its estate; (d) assist the Debtor in preparing for and filing a plan of reorganization at the earliest possible date; (e) perform any and all other legal services for the Debtor in connection with the Debtor's Chapter 11 Case; and (f) perform such legal services as the Debtor may request with respect to any matter. The firm will be paid at the rate of $625 per hour. The firm received from the Debtor a retainer of $25,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Brandon Tittle, Esq., a partner at Tittle Law Firm, PLLC, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Brandon J. Tittle, Esq. Tittle Law Firm, PLLC 1125 Legacy Dr., Ste. 230 Frisco, TX 75034 Tel: (972) 213-2316 Email: btittle@tittlelawgroup.com About NOW Solutions Inc. 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. NOW Solutions Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Tex. Case No. 25-42648) on September 7, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Brenda T. Rhoades handles the case. The Debtor is represented by Brandon Tittle, Esq. at TITTLE LAW FIRM, PLLC. ARMANINO LLP is the Debtor's Financial Advisor. OAKTREE OCALA: Wins Bid to Employ Logs Legal as Special Counsel --------------------------------------------------------------- Judge Sean H. Lane of the United States Bankruptcy Court for the Southern District of New York granted the application of Oaktree Ocala JV, LLC and ASAP Highline Ocala, LLC for an entry of an order pursuant to Section 327(e) of the Bankruptcy Code, authorizing the employment of Logs Legal Group LLP ("LOGS") as special counsel to the Debtors and Debtors in Possession. The objection of William K. Harrington, the United States Trustee for Region 2, is overruled. The dispute centers on whether retention of LOGS is proper under Section 327(e) instead of Section 327(a), and whether Logs fails to satisfy the applicable conflict-of-interest requirement under either Section 327(a) or Section 327(e). Prior to the Petition Date, LOGS represented the Debtors in litigation commenced by secured lender CPIF MRA, LLC in the Circuit Court of the Fifth Judicial Circuit in Marion County, Fla. (No. 2024-CA-002372 (3-C)). In the Foreclosure Litigation, the Debtors filed counterclaims against CPIF. The Debtors request that LOGS be retained as special counsel to continue to represent them with respect to the resolution of the applicable claims and counterclaims in the Foreclosure Litigation. Not surprisingly, Debtors' largest creditor in the bankruptcy case is CPIF, who is represented by Duane Morris LLP in matters regarding CPIF's loans and mortgages with Debtor ASAP, including the Foreclosure Litigation. As it so happens, Duane Morris LLP also represents LOGS in an unrelated lawsuit pending for the Eastern District of New York, styled Barbara Small v. LOGS Legal Group LLP f/k/a Shapiro, DiCaro & Barak, LLC, Case No. 1:25-1384-MKB-JAM. The class action lawsuit alleges LOGS and others of, inter alia, deceptive practice, negligence, and legal malpractice, claims that the Debtors purport are unrelated to the Debtors and the instant case. The UST argues that: (1) LOGS must be retained under Section 327(a) as general bankruptcy co-counsel and not under Section 327(e) as special counsel due to LOGS' central role in this case; (2) LOGS cannot zealously represent the Debtors against CPIF/Duane Morris LLP by virtue of the EDNY Lawsuit; (3) the claims asserted against LOGS in the EDNY Lawsuit create a conflict for LOGS because they are at odds with the type of work LOGS would perform in this case; and (4) LOGS' conflict search is incomplete. The crux of UST's Objection is that LOGS should be employed under Section 327(a) because its representation of the Debtors in the dispute with CPIF would essentially be tantamount to conducting the bankruptcy case on behalf of the Debtors. The UST asserts that because LOGS is engaged to address the Debtors' most significant creditor and thus the claims that will be resolved through this bankruptcy, LOGS will play a central role in the reorganization and essentially be serving as debtors' counsel, rendering representation pursuant to Section 327(e) inappropriate. But the Court disagrees. While there is little question that resolution of CPIF's claims is important to the Debtors' underlying Chapter 11 case, the scope of LOGS' retention application is limited to continuing representation of the Debtors in the existing Foreclosure Litigation to a resolution. Moreover, it is undisputed that LOGS is not involved in advising the Debtors on their operations while in bankruptcy or formulating the end game of this Chapter 11 case. For all these reasons, the Court finds the limited scope of representation of LOGS in this case qualifies LOGS for retention under Section 327(e). The UST asserts that because LOGS will primarily interact with Duane Morris LLP as counsel to CPIF, doubt has been cast on whether LOGS can zealously advocate and litigate vigorously against a firm that represents LOGS in other litigation. However, that is not the standard for retention of special counsel. Rather, the question is whether the interest of special counsel and the interest of the estate are identical as to the matter for which special counsel is retained. According to Judge Lane, "The UST does not present any facts that demonstrate that Debtors' and LOGS' interests are not aligned. Instead, the UST suggests that the EDNY Lawsuit creates a perceived risk that LOGS' professional judgment on behalf of the Debtors will be somehow impaired by virtue of the pending claims related to LOGS' mortgage and loan work in the separate EDNY matter. Put differently, the UST asserts that the existence of a pending lawsuit calls into question whether a lawyer can provide a client with detached advice. An unresolved pending lawsuit is representative of unproven claims awaiting actual disposition and thus cannot create a conflict itself, absent concrete facts relating the suit to the instant bankruptcy case." The UST also maintains that the tenor of the allegations against LOGS in the EDNY Lawsuit somehow is a bar to LOGS acting here as a fiduciary. But according to the Court, the UST presents no authority for the proposition that such unproven allegations -- which are entirely unrelated to the Debtors -- provide a basis to bar the proposed representation in this case. As no showing has been made that there is a connection between the EDNY Lawsuit and LOGS' role in the Foreclosure Litigation, the Court overrules the UST's Objection. A copy of the Court's Memorandum of Decision dated October 2, 2025, is available at https://urlcurt.com/u?l=RTxiCq from PacerMonitor.com. Counsel for Debtors, Oaktree Ocala JV, LLC and ASAP Highline Ocala, LLC: Kenneth M. Lewis, Esq. WHITEFORD TAYLOR & PRESTON, LLP 444 Madison Avenue New York, NY 10022 E-mail: klewis@whitefordlaw.com Counsel for CPIF MRA, LLC: Lawrence J. Kotler, Esq. Drew S. Mcgehrin, Esq DUANE MORRIS LLP 30 South 17th Street Philadelphia, PA 19103 E-mail:LJKotler@duanemorris.com DSMcGehrin@duanemorris.com Counsel for the United States Trustee: Tara Tiantian, Esq. Alexander Hamilton Custom House One Bowling Green New York, NY 10004 E-mail: tara.tiantian@usdoj.gov Counsel for Fallen Oak Holdings LLC: Erica Feynman Aisner, Esq. KIRBY AISNER & CURLEY LLP 700 Post Road Scarsdale, NY 10583 E-mail: eaisner@kacllp.com Counsel for Mark Wiederman and Saul Horowitz: Jacob Lewin, Esq. STEIN ADLER DABAH & ZELKOWITZ LLP 936 Broadway New York, NY 10010 E-mail: jlewin@steinadlerlaw.com OLIVER CORNERS: Seeks Chapter 11 Bankruptcy in Georgia ------------------------------------------------------ On October 6, 2025, Oliver Corners Apartments LLC filed Chapter 11 protection in the Northern District of Georgia. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Oliver Corners Apartments LLC Oliver Corners Apartments LLC is a limited liability company. Oliver Corners Apartments LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-61617) on October 6, 2025. In its petition, the Debtor reports estimated assets up to $100,000 and estimated liabilities between $1 million and $10 million. The Debtor is represented by William A. Rountree, Esq. of Rountree Leitman Klein & Geer, LLC. PAP-R PRODUCTS: Court Extends Cash Collateral Access to Nov. 30 --------------------------------------------------------------- Pap-R Products Company received another extension from the U.S. Bankruptcy Court for the Southern District of Illinois to use cash collateral. The fourth interim order extended the Debtor's authority to use cash collateral through November 30 to pay the expenses set forth in its budget, subject to a 10% variance. The budget projects total operational expenses of $541,000 for October and $498,000 for November. As protection for the use of their cash collateral, First Neighbor Bank and Advantage Capital were granted a replacement lien on all post-petition assets of the Debtor, with the same validity, extent and priority as their respective pre-bankruptcy liens. As additional protection, First Neighbor Bank and Advantage Capital will receive monthly payments of $8,600 and $10,000, respectively, during the interim period. Events of default under the fourth interim order include trustee appointment, case conversion or dismissal, noncompliance with budget or reporting, and improper payments. During the term of the order, the Debtor must not sell collateral, grant new liens, or transfer assets outside of the budget. The next hearing is set for November 25. Any objections to the motion or budget must be filed by October 15. First Neighbor Bank is owed $5.18 million and claims a first lien on most assets except second position on equipment. Meanwhile, Advantage Capital is owed $1.72 million and holds a second lien on most assets but a first position on equipment. About Pap-R Products Company Pap-R Products Company specializes in a wide range of coin and currency wrapping solutions. Its product lineup includes flat coin wrappers, automatic coin rolls, currency bands, and specialized wraps for items such as napkins and canceled checks. It also offers custom imprinting services for most products, excluding basic bill bands and storage boxes. Pap-R Products filed Chapter 11 petition (Bankr. S.D. Ill. Case No. 25-60040) on March 3, 2025, listing between $10 million and $50 million in both assets and liabilities. Kenneth Scott Ware, president of Pap-R Products, signed the petition. Judge Mary E. Lopinot oversees the case. Larry E. Parres, Esq., at Lewis Rice, LLC, represents the Debtor as legal counsel. PARENT SUPPORT: Hires Indeglia & Associates as Bankruptcy Counsel ----------------------------------------------------------------- Parent Support Network of Rhode Island Inc. seeks approval from the U.S. Bankruptcy Court for the District of Rhode Island to hire Indeglia & Associates as counsel. The firm will render these services: a. provide legal advice regarding its powers and duties as Debtor in Possession in the continued operation of its business and management of its property; b. represent the Debtor in connection with matters as to its secured and unsecured creditors; c. represent the Debtor with regard to core and other adversary proceedings; d. represent the Debtor and assist with schedules, cash flows, monthly reporting and other financial operation and legal requirements; e. prepare necessary applications, answers, orders, reports and other legal papers; and f. perform all other legal services. The firm will be paid at these rates: Vicente A. Indeglia $500 per hour Indeglia & Associates is a "disinterested person" as the term is defined in 11 U.S.C. Sec. 101(14), according to court filings. The firm can be reached through: Vincent Indeglia, Esq. Indeglia & Associates 931 Jefferson Boulevard, Suite 1006 Warwick, RI 02886 Telephone: (410) 88-9240 Facsimile: (410) 88-9241 Email: vincent@indeglialaw.com About Parent Support Network of Rhode Island Inc. Parent Support Network of Rhode Island Inc. is a nonprofit organization that provides free peer-based support, education, and advocacy services for parents and families in Rhode Island. It offers family peer support to those navigating mental health and substance use challenges, child welfare involvement, and the juvenile justice system, with services including parenting education, fatherhood support, family groups, and one-on-one assistance from trained Family Support Partners. The organization has been supporting families statewide for more than 30 years through a helpline, group programs, and community-based services. Parent Support Network of Rhode Island Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. R.I. Case No. 25-10775) on September 25, 2025. In its petition, the Debtor reports total assets of $90,680 and total liabilities of $1,250,945. Honorable Bankruptcy Judge John A Dorsey Jr. handles the case. The Debtor is represented by Russell D. Raskin, Esq. of RASKIN & BERMAN. PAUL DAVID SCHULTZ: Court Affirms Chapter 7 Conversion Order ------------------------------------------------------------ In the appeal styled PAUL DAVID SCHULTZ, Appellant, v. MATTHEW W. CHENEY, Appellee, Case No. 1:25-cv-00322-LMB-IDD (E.D. Va.), Judge Leonie M. Brinkema of the United States District Court for the Eastern District of Virginia affirmed the order of the United States Bankruptcy Court for the Eastern District of Virginia converting Paul David Schultz's bankruptcy case from a Chapter 11 proceeding to a Chapter 7 proceeding. Schultz argues that his Chapter 11 petition was filed in good faith, that his violation of court orders does not constitute cause for dismissal or conversion, and that the bankruptcy court erred in converting his case because he had enough assets to pay his creditors. Appellee Matthew W. Cheney argues that the Conversion Order should be affirmed because the bankruptcy judge correctly found cause to dismiss or convert and concluded that conversion, rather than dismissal, best served the interests of the creditors and the bankruptcy estate. On Oct. 29, 2024, one week after Schultz filed his Chapter 11 petition. Clear Sky commenced an adversary proceeding against Schultz in the bankruptcy court seeking to affirm the validity of its Loan and liens and its right to proceed with foreclosure. Sky alleged that it had provided Schultz with a private loan secured by Redhill Manor to fund unanticipated rehab costs related to COVID disruption to Schultz's fix-and-flip business. Specifically, Clear Sky alleged that it provided the loan for the commercial purpose of renovating Jeffrey Road. However, instead of using the funds for commercial rehab, Schultz misused the money for personal and household purposes, such as paying his Kapalua Terrace home mortgages and his child's private school tuition. Schultz, acting through counsel, asserted a counterclaim contending that the loan from Clear Sky was "illegal and unenforceable" because Clear Sky was "unlicensed" under Virginia consumer lending law. Clear Sky filed a Motion for Summary Judgment and to Dismiss Counterclaims, arguing that the loan was a commercial loan excluded from Virginia's restrictions on mortgage loans. The bankruptcy court granted Clear Sky's Motion for Summary Judgment and to Dismiss Counterclaims on Feb. 7, 2025, six days before the bankruptcy court issued its Conversion Order. The bankruptcy court first found cause to dismiss or convert based on Schultz's bad faith filing of his Chapter 11 petition. With respect to the subjective inquiry, the District Court finds the bankruptcy court correctly concluded that Schultz was not motivated by an honest intent to effectuate reorganization in filing his Chapter 11 petition. Specifically, because Redhill Manor was the only property remaining in the Chapter 11 case and was owned by the debtor in his personal name and valued at $800,000, with a secured debt to Clear Sky of $1.6 million, the court found that Schultz filed his Chapter 11 petition just to continue to hinder and delay the creditor Clear Sky from completing foreclosure" on Redhill Manor. According to the District Court, given the record evincing Schultz's clear attempt to delay foreclosure, the bankruptcy court did not abuse its discretion in finding that Schultz's Chapter 11 petition was motived by an improper purpose. Schultz contends that the bankruptcy court erred in dismissing his counterclaim in the adversary proceeding, and had the court correctly interpreted Virginia law, Clear Sky's lien would have been discarded and Appellant would have been able to use the full proceeds from the sale of the disputed property to successfully fund a reorganization plan. The Court finds even if Schultz could avoid Clear Sky's loan, his Chapter 11 petition was still futile. Schultz reported generating a net monthly income of $231.39, but to continue in Chapter 11, he would have had to pay a statutory fee of at least $250 every quarter until the case was converted, dismissed, or closed. 28 U.S.C. section 1930(a)(6). Additionally, without Clear Sky's claim, Schultz would still have had to make monthly payments of $12,100 to his other secured creditors. Accordingly, Schultz's attempt to litigate the validity of Clear Sky's loan in this appeal does not overcome the bankruptcy court's finding of futility. Given both the subjective bad faith and objective futility of Schultz's Chapter 11 petition, the bankruptcy court did not abuse its discretion in finding cause based on bad faith, the Court concludes. The bankruptcy court also found that Schultz's failure to comply with the Consent Order supports dismissal or conversion under 11 U.S.C. Sec. 1112(b)(4)(E). The bankruptcy court did not abuse its discretion in finding cause to dismiss or convert based on Schultz's failure to timely file Monthly Operating Reports in accordance with the Consent Order. According to the District Court, the bankruptcy court did not abuse its discretion in deciding that conversion to a Chapter 7 proceeding, rather than dismissal, would best serve the interests of the creditors and the bankruptcy estate. Judge Brinkema explains, "Specifically, the court found that conversion was appropriate because the creditors would be best served by supervision of the assets here based on the poor condition of Redhill Manor and Schultz's monthly deficit of $18,983.95. Given that the only property remaining in this case was valued at $800,000, and that property secured a debt to Clear Sky of $1.6 million, the bankruptcy court properly found that there would be a loss of rights granted in the case if it were dismissed rather than converted." The District Court concludes given the evidence in the record of a clear need to supervise Schultz's assets, the bankruptcy court did not abuse its discretion in deciding to convert rather than dismiss this case. A copy of the Court's Memorandum Opinion is available at https://urlcurt.com/u?l=3rTgRA from PacerMonitor.com. Paul David Schultz filed for Chapter 11 bankruptcy protection (Bankr. E.D. Va. Case No. 24-11959) on October 21, 2024, listing under $1 million in both assets and liabilities. The Debtor is represented by Tatiana Lazo, Esq. PDG PRESTIGE: Weycer Kaplan Defeats DIP Lender's Claims ------------------------------------------------------- Judge Christopher Bradley of the United States Bankruptcy Court for the Western District of Texas granted Weycer, Kaplan, Pulaski & Zuber, P.C.'s motion for summary judgment on all of Legalist DIP GP, LLC's claims in the adversary proceeding captioned as LEGALIST DIP GP, LLC; PDG PRESTIGE, INC., Plaintiffs, v. MICHAEL DIXSON; MESILLA VALLEY VENTURES, LLC; MICHAEL DIXSON TRUST; CHRISTINA DIXSON; WEYCER KAPLAN, PULASKI & ZUBER, P.C.; FSLRO 510 SOUTH TELSHOR LAS CRUCES, LLC; LPC RETAIL, LLC; THE GATEWAY VENTURES, LLC; ENTRADA DEVELOPMENT, LLC, Defendants, Adv. No. 23-03004-cgb (Bankr. W.D. Tex.). On June 16, 2023, Legalist DIP GP, LLC filed this adversary proceeding against PDG Prestige Inc. and PDG's president, Michael Dixson. After PDG's case was converted to chapter 7, the chapter 7 trustee Ronald E. Ingalls, moved to realign PDG as a party plaintiff, which the Court granted. On Feb. 23, 2024, Legalist and PDG filed an amended complaint adding various defendants, including Weycer, Kaplan, Pulaski & Zuber, P.C.. Weycer Kaplan moved to dismiss the civil conspiracy claim asserted against it under Rule 12(b)(6). After a hearing, the Court entered an order denying the motion to dismiss. A few months later, the Plaintiffs filed a third amended complaint. The Plaintiffs' claims against Weycer Kaplan stem from Weycer Kaplan's representation of PDG in PDG's chapter 11 case. In the Third Amended Complaint, the Plaintiffs assert claims against Weycer Kaplan for: (1) civil conspiracy; (2) civil contempt; and (3) revocation of the order retaining Weycer Kaplan and fee disgorgement. The Plaintiffs allege that Weycer Kaplan, through attorney Jeff Carruth, conspired with Dixson to sell estate property outside of the Court's supervision by transferring an asset, Lot 1A, to Mesilla Valley Ventures, LLC, another entity controlled by Dixson, for no consideration. They allege that prior to confirmation of the chapter 11 plan, Carruth facilitated the transfer to Mesilla Valley and then negotiated the sale of Lot 1A, representing both PDG and Mesilla Valley in the transaction. The Plaintiffs further allege that this conspiracy led to Dixson's fraudulent use of the sale proceeds, which violated the terms of the Court's order authorizing PDG to borrow money from Legalist postpetition and so the Plaintiffs also seek a judgment that Weycer Kaplan, PDG, and Dixson committed civil contempt. Finally, the Plaintiffs contend that Weycer Kaplan failed to disclose its representation of entities related to PDG and then sought approval of fees in connection with that non-debtor representation from the Court. The Plaintiffs argue that this violated the order authorizing Weycer Kaplan's employment and ask the Court to revoke that order and disgorge all the fees awarded to Weycer Kaplan in its final fee application. Weycer Kaplan denies these allegations and asserts various affirmative defenses, including contributory negligence, attorney immunity, estoppel, waiver, and ratification -- because it contends that Legalist agreed to the sale of Lot 1A and agreed to release its lien. Weycer Kaplan then moved for summary judgment on its attorney immunity affirmative defense and on each of the Plaintiffs' claims against it. Thereafter, the Trustee settled the bankruptcy estate's claims against Weycer Kaplan. The Court entered an order approving the settlement on Sept. 15, 2025. Thus, the Court will only consider Legalist's claims. Weycer Kaplan seeks summary judgment that its attorney immunity affirmative defense bars Legalist's claims against it. Legalist primarily argues that the attorney immunity doctrine does not apply because the claims against Weycer Kaplan were brought by both Legalist and the Trustee. According to Judge Bradley, "Indeed, in chapter 7, a trustee stands in the shoes of the debtor. Because of this, the trustee effectively becomes a former client of debtor's counsel and so the attorney immunity doctrine does not apply. Once this case was converted to chapter 7, the Trustee stepped into PDG's shoes and became a former client of Weycer Kaplan. Thus, the attorney immunity doctrine does not bar any of the Trustee's claims. However, Legalist, indisputably a non-client of Weycer Kaplan, provides no support for its attempt to bootstrap this analysis to its claims. Further, the Trustee has now settled its claims against Weycer Kaplan so only Legalist's claims remain. As Legalist is inarguably not Weycer Kaplan's client, Legalist's claims are barred as a matter of law if the alleged wrongful conduct is the kind of conduct that falls within the scope of Weycer Kaplan's representation of PDG." The Court finds Legalist has failed to provide sufficient evidence to create a genuine issue of material fact for trial regarding whether Weycer Kaplan performed any services outside the scope of its representation of PDG and the Court finds that summary judgment should be granted in favor of Weycer Kaplan as to Legalist's claims. Legalist argues that, regardless of the attorney immunity doctrine, the Court should: (1) sanction Weycer Kaplan for violating the Bankruptcy Code because under the DIP Order Lot 1A should have been sold pursuant to section 363(f) and the proceeds should have been used to pay Legalist; and (2) order Weycer Kaplan to disgorge its fees because it failed to disclose its representation of Mesilla Valley. Weycer Kaplan contends that Legalist waived its rights under the DIP Order by knowingly releasing its lien on Lot 1A. As for disgorgement, to the extent that Legalist (rather than the Trustee) even has standing to seek disgorgement, Legalist failed to provide sufficient evidence that Weycer Kaplan represented Mesilla Valley in any capacity. Thus, the Court finds it should grant summary judgment in favor of Weycer Kaplan on all of Legalist's claims. A copy of the Court's Opinion and Order is available at https://urlcurt.com/u?l=o2mkx5 from PacerMonitor.com. About PDG Prestige PDG Prestige, Inc., a real estate developer in El Paso, Texas, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Tex. Case No. 21-30107) on Feb. 15, 2021. Michael Dixson, president, signed the petition. At the time of the filing, the Debtor estimated assets of between $1 million and $10 million and liabilities of the same range. Weycer Kaplan Pulaski & Zuber, P.C., was the Debtor's legal counsel. The case was converted to Chapter 7 on July 13, 2023. Ronald E. Ingalls is the Chapter 7 trustee. PHOENIX AVIATION: Fitch Gives BB-(EXP) Rating to $592MM Term Loan B ------------------------------------------------------------------- Fitch Ratings has assigned an expected long-term debt rating of 'BB-(EXP)' with a Recovery Rating of 'RR2' to the proposed $592 million senior secured Term Loan B (TLB) co-issued by PAC Aviation III Designated Activity Company (PACDIII) and PAC DAC LLC (PACD), collectively the co-issuers and ultimately wholly owned by Phoenix Aviation Capital, LLC (PAC). Fitch has also affirmed the Long-Term Issuer Default Rating (IDR) for Phoenix Aviation Capital Limited at 'B/Stable' and the senior unsecured notes at 'B'/'RR4'. The fixed rate of interest and final maturity date will be determined at the time of issuance. Proceeds from the co-issued TLB will be used to refinance existing secured borrowings under Phoenix's warehouse facility and the acquisition of aircraft. Previous rating action commentaries incorrectly identified the ultimate parent for the Long-Term IDR as Phoenix Aviation Capital Limited. The name has now been updated to Phoenix Aviation Capital, LLC on Fitch's website. Phoenix Aviation Capital, LLC's Long-Term IDR is 'B' with a Stable Outlook. Key Rating Drivers Term Loan Anchored to PAC's IDR: The expected rating for the co-issued TLB is anchored to PAC's Long-Term Issuer Default Rating (IDR) of 'B'. This reflects Fitch's view that Phoenix represents the consolidated credit strength of the broader Phoenix aviation franchise, including its 100% ownership of PAC III and PAC DAC. The TLB benefits from a full recourse guarantee from PAC, which allows Fitch to evaluate the debt based on Phoenix's overall credit profile rather than the immediate borrower's standalone creditworthiness. Higher Ranking in Capital Structure: The expected rating for the proposed TLB is two notches higher than PAC's Long-Term IDR and existing senior unsecured notes. This reflects the higher ranking of the TLB in the capital structure and Fitch's expectations for strong recovery prospects in a stress scenario, the solid security package backing the instrument mainly comprising highly liquid Tier 1 aircraft, as defined by Fitch, and sufficient availability of unencumbered assets. Incremental Increase in Leverage: The transaction will lead to an incremental increase in leverage, as proceeds from the issuance will be used for general corporate purposes, including the repayment of outstanding borrowings under the firm's existing warehouse facility and to fund the acquisition of aircraft in 2H25. Phoenix's gross debt-to-tangible equity, which treats its preferred shares as 100% equity, was2.7x at June 30, 2025. Pro forma for the expected TLB issuance, Fitch anticipates leverage to increase toabout3.2x. This is broadly in line with the firm's business plan and Fitch's expectations and is commensurate with the assigned rating in the context of Phoenix's business model and fleet portfolio mix. Future deleveraging could come from the selective sale of noncore assets, as well as the company's outstandingUSD325 million equity commitment that is available. The company targets leverage on a net debt-to-equity basis of around 3.0x over the long term. Decrease in Unsecured Debt Mix; Sound Liquidity Coverage: Unsecured debt accounted for 41% of total debt as of June 30, 2025. Following this TLB issuance, the unsecured debt will decrease to around 34% of total debt but remains comfortably above Fitch's sensitivity for unsecured debt of 20%. In addition, Fitch projects liquidity coverage will remain sufficient to meet upcoming liquidity needs, including order book funding requirements. Full-Service Lessor of New Technology Aircraft: The ratings reflect PAC's nominal, but growing, franchise as a global, full-service lessor of new tech narrowbody aircraft, appropriate current and target leverage, lack of meaningful near-term debt maturities and sound profitability metrics. Rating Constraints: Rating constraints include execution risk associated with the company's ambitious growth targets and short operating track record as a standalone lessor; reliance on wholesale secured funding; a smaller and significantly concentrated portfolio by customer and geography; and funding and placement risks with the firm's sizeable orderbook. There are potential governance weaknesses and conflicts of interest associated with Phoenix's externally managed business model, limited number of board members, and ownership by fixed life funds. Sector Constraints: Rating constraints applicable to the aircraft leasing industry more broadly include the monoline nature of the business, vulnerability to exogenous shocks, sensitivity to higher oil prices, inflation and unemployment, which negatively impact travel demand, potential exposure to residual value risks, reliance on wholesale funding sources, and meaningful competition. These constraints are further influenced by Fitch's expectation for a less favorable operating environment, including a moderation in travel demand due to dampening global economic growth. For more information on the key rating drivers and sensitivities underpinning PAC's ratings, see "Fitch Rates Phoenix Aviation Capital, LLC 'B'; Outlook Stable" dated June 24, 2025 and available. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - Weakening of the company's projected long-term cash flow generation, net spreads sustained below 1%, liquidity coverage dropping below 1.0x, and/or a sustained increase in gross leverage meaningfully above 3.0x. - Macroeconomic and/or geopolitical headwinds that lead to lease restructurings rejections, lessee defaults, and increase losses, or a material deterioration in fleet quality, particularly concerning the proportion of tier 1 aircraft, average fleet age, and average lease terms, could also negatively impact ratings. - PAC's ownership by private funds could lead to negative rating actions if it results in elevated capital extractions or if a forced sale of the company at fund maturity undermines its financial profile, franchise, or long-term strategic direction. - Shortcomings in corporate governance or conflicts of interest that weaken PAC's franchise position, limiting its ability to pursue new business opportunities. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - Strong execution of its planned growth targets and long-term strategic financial objectives, including maintaining leverage within the targeted range. - The ratings could also benefit from increased scale, greater lessee diversification with single airline exposure approaching 10% of NBV, enhanced geographic diversification of the fleet, maintenance of low impairment ratios, and demonstrated track record of funding and placement of orderbook deliveries. - An upgrade could also be contingent upon sustained net spreads above 2%, while maintaining liquidity coverage above 1.2x and an unsecured funding mix of 20% on a sustained basis. DEBT AND OTHER INSTRUMENT RATINGS: KEY RATING DRIVERS The expected senior secured debt rating is two-notches above PAC's Long-Term IDR and reflects the aircraft collateral backing the obligations, which suggests strong recovery prospects. The senior unsecured debt rating is equalized with Phoenix's Long-Term IDR and reflects expectations for average recovery prospects in a stress scenario, given the availability of unencumbered assets. DEBT AND OTHER INSTRUMENT RATINGS: RATING SENSITIVITIES The senior secured debt rating is primarily sensitive to changes in Phoenix's Long-Term IDR and secondarily to the relative recovery prospects of the instruments. The senior unsecured debt rating is primarily sensitive to changes in Phoenix's Long-Term IDR and the relative recovery prospects of the instruments. A decline in unencumbered asset coverage, combined with a material increase in secured debt, relative to Phoenix's business plan, could result in the notching of the unsecured debt down from the Long-Term IDR. ADJUSTMENTS The Standalone Credit Profile (SCP) has been assigned in line with the implied SCP. The Asset Quality score has been assigned below the implied score due to the following adjustment reason(s): Concentrations; asset performance (negative), Risk profile and business model(negative). The Earnings & Profitability score has been assigned below the implied score due to the following adjustment reason(s): Historical and future metrics (negative). The Capitalization & Leverage score has been assigned below the implied score due to the following adjustment reason(s): Risk profile and business model (negative), Historical and future metrics (negative). ESG Considerations PAC has an ESG Relevance Score of '4' for Management Strategy due to execution risk associated with the operational implementation of the company's outlined business plan, which has a negative impact on the credit profile, and is relevant to the ratings in conjunction with other factors. PAC has an ESG Relevance Score of '4' for Governance Structure due to potential governance and conflicts of interest risks associated with PAC's limited number of independent board members and ownership by a fixed-life fund structure and external management. Shortcomings in corporate governance or conflicts of interest could weaken PAC's franchise position and limit its ability to pursue new business opportunities. This has a negative impact on the credit profile and is relevant to the ratings in conjunction with other factors. The highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. Entity/Debt Rating Recovery Prior ----------- ------ -------- ----- Phoenix Aviation Capital Limited LT IDR B Affirmed B senior unsecured LT B Affirmed RR4 B PAC DAC LLC senior secured LT BB-(EXP) Expected Rating RR2 Phoenix Aviation Capital LLC LT IDR B New Rating PAC Aviation III Designated Activity Company senior secured LT BB-(EXP) Expected Rating RR2 PJS CONSTRUCTION: Seeks to Hire Middlebrooks Shapiro as Counsel --------------------------------------------------------------- PJS Construction Custom Building & Remodeling seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to hire the law firm of Middlebrooks Shapiro, PC as counsel. The firm will render these services: (a) prepare and file the Debtor's Chapter 11 petition, schedules, and statement of financial affairs; (b) represent the Debtor at the Initial Debtor Interview and the section 341(a) meeting of creditors; and (c) represent the Debtor in all aspects of the Chapter 11 case, including contested matters and adversary proceedings. The firm will be paid at these hourly rates: Melinda Middlebrooks, Attorney $500 Joseph Shapiro, Attorney $450 Jessica Minneci, Attorney $400 Law Clerks and Paralegals $100 In addition, the firm will seek reimbursement for expenses incurred. The firm received a total retainer of $10,000 from the Debtor plus a filing fee of $1,738. Ms. Middlebrooks disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Melinda D. Middlebrooks, Esq. Middlebrooks Shapiro, P.C. P.O. Box 1630 Belmar, NJ 07719 Telephone: (973) 218-6877 Email: middlebrooks@middlebrooksshapiro.com About PJS Construction Custom Building & Remodeling PJS Construction Custom Building & Remodeling sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. N.J. Case NO. 25-20291) on September 30, 2025, listing up to $50,000 in both assets and liabilities. Jessica M. Minneci, Esq. at Middlebrooks Shapiro, P.C. represents the Debtor as counsel. PRECISION EXPRESS: Hires Law Offices of Cecille Doan as Attorney ---------------------------------------------------------------- Precision Express Inc. seeks approval from the US Bankruptcy Court for the Eastern District of Arkansas to hire Law Offices of Cecille Doan, LLC as counsel. The firm will render these services: a. give Debtor legal advice with respect to its powers and duties as Debtor-in-Possession of its organization and management of the property; b. prepare on behalf of Debtor, as Debtor in Possession, a Petition, Schedules, Statement of Financial Affairs, any necessary deficient schedules and other documents, applications, answers, orders, reports, complaints, motions, etc. file such required documents, and to appear before this Court and any other court in reference thereto; and c. perform all other legal services for Debtor in Possession that may be necessary to effectuate a reorganization of Debtor's financial affairs. As disclosed in the court filings, Law Offices of Cecille Doan, LLC does not represent any of the creditors in this proceeding or any other adverse party in interest in this proceeding. The firm can be reached through: Cecille Doan, Esq. The Law Offices of Cecille Doan, LLC The Stephens Building 111 Center St., Suite 1200 Little Rock, AR 72201 Telephone: (501) 400-7395 Facsimile: (501) 500-6072 Email: bk@cashanddoan.com Email: cecille@cashanddoan.com About Precision Express Inc. Precision Express Inc. provides trucking services for shipments moving between states. Precision Express Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Ark. Case No. 25-13266) on September 23, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100,001 and $1 million each. Honorable Bankruptcy Judge Bianca M. Rucker handles the case. The Debtor is represented by Anh-Thu Cecille Doan, Esq. of Law Offices Of Cecille Doan. PREMIER PEDIATRICS: Brian Rothschild Named Subchapter V Trustee --------------------------------------------------------------- The Acting U.S. Trustee for Region 19 appointed Brian Rothschild of Parsons Behle & Latimer as Subchapter V trustee for Premier Pediatrics, LC. Mr. Rothschild will be paid an hourly fee of $500 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Rothschild declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Brian M. Rothschild PARSONS BEHLE & LATIMER 201 South Main Street, Suite 1800 Salt Lake City, Utah 84111 Telephone: 801.532.1234 Facsimile: 801.536.6111 BRothschild@parsonsbehle.com ECF@parsonsbehle.com About Premier Pediatrics LC Premier Pediatrics, LC operates a pediatric medical office in Southern Utah. Premier Pediatrics filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Utah Case No. 25-21548) on March 26, 2025, listing up to $50,000 in assets and up to $500,000 in liabilities. Robert K. Dowse, managing member of Premier Pediatrics, signed the petition. Judge William T. Thurman oversees the case. Geoffrey L. Chesnut, Esq., at Red Rock Legal Services, PLLC, represents the Debtor as bankruptcy counsel. PROPEL TRUCKING: Case Summary & 20 Largest Unsecured Creditors -------------------------------------------------------------- Debtor: Propel Trucking, Inc. d/b/a Propel Logistics, Inc. d/b/a Propel Xpress, Inc. 3305 E Main St Russellville, AR 72802 Business Description: Propel Trucking Inc., based in Russellville, Arkansas, provides freight transportation services specializing in dry van and refrigerated trailer hauling, operating a fleet of tractors and trailers for interstate for-hire logistics. Chapter 11 Petition Date: October 2, 2025 Court: United States Bankruptcy Court Eastern District of Arkansas Case No.: 25-13396 Judge: Hon. Bianca M Rucker Debtor's Counsel: Stanley V. Bond, Esq. BOND LAW OFFICE 525 S. School Ave. Suite 100 Fayetteville, AR 72701 Tel: 479-444-0255 Fax: 479-235-2827 Email: attybond@me.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Marc Campbell as president. A full-text copy of the petition, which includes a list of the Debtor's 20 largest unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/CRHLLPI/Propel_Trucking_Inc__arebke-25-13396__0001.0.pdf?mcid=tGE4TAMA PROPEL TRUCKING: Seeks Chapter 11 Bankruptcy in Arkansas -------------------------------------------------------- On October 2, 2025, Propel Trucking Inc. filed Chapter 11 protection in the Eastern District of Arkansas. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. About Propel Trucking Inc. Propel Trucking Inc. is a family-owned trucking company that varries a diverse range of cargo, including general freight, building materials, metal products, fresh produce, paper goods, beverages, and both dry and refrigerated commodities. Propel Trucking Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Ark. Case No.25-13396) on October 2, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Bianca M. Rucker handles the case. The Debtor is represented by Stanley V. Bond, Esq. at Attorney At Law. PROSPECT MEDICAL: Contests $1MM Software Fee Claims in Ch.11 Case ----------------------------------------------------------------- Matthew Santoni of Law360 reports that in court filings Monday, October 6, 2025, Prospect Medical Holdings Inc. said its Chapter 11 proceedings should prevent two technology firms from seeking more than $1 million in alleged software and IT fees. Prospect asserted that the vendors' payment demands violate bankruptcy protections and would disrupt the reorganization process, the report states. About Prospect Medical Holdings Prospect Medical Holdings owns Roger Williams Medical Center, Our Lady of Fatima Hospital, and several other healthcare facilities. Prospect Medical sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Lead Case No. 25-80002) on Jan. 11, 2025. In the petition filed by Paul Rundell, as chief restructuring officer, the Debtor estimated assets and liabilities between $1 billion and $10 billion each. Bankruptcy Judge Stacey G. Jernigan handles the case. The Debtors' general bankruptcy counsel is Thomas R. Califano, Esq., and Rakhee V. Patel, Esq., at Sidley Austin LLP, in Dallas, Texas, and William E. Curtin, Esq., Patrick Venter, Esq., and Anne G. Wallice, Esq., at Sidley Austin LLP, in New York. The Debtors tapped Alvarez & Marsal North America, LLC as financial advisor; Houlihan Lokey, Inc. as investment banker; and Omni Agent Solutions, Inc. as claims, noticing and solicitation agent. PROSPECT MEDICAL: No Patient Care Concerns, 4th PCO Report Says --------------------------------------------------------------- Suzanne Koenig, the patient care ombudsman, filed with the U.S. Bankruptcy Court for the Northern District of Texas her fourth report regarding the quality of patient care provided by Prospect Medical Holdings and its affiliates. In her report, which covers the period from July 29 to September 29, the ombudsman developed a standardized methodology to ensure consistency in reporting among her representatives visiting each location due to the number of hospitals operated by the healthcare providers. Each site visit included the ombudsman and one SAK Healthcare representative who was a nurse by training. During each visit, the ombudsman and her representative met with the relevant hospital's leadership team, conducted a walk-through tour of each hospital and its buildings, and interviewed key professional staff and patients where possible. The ombudsman and her representatives also requested and reviewed hospital records as part of this assessment process. The ombudsman did not observe any material issues impacting patient care requiring this court's immediate attention while the individual hospital reports will provide a detailed analysis of each hospital and patient care at those hospitals. The ombudsman did observe certain areas in which the hospitals could improve the patient care experience and has discussed these issues with the healthcare providers. The ombudsman did not observe any staffing issues that put patients in immediate danger or jeopardized their care. The staffing levels appear to be sufficient based on the reporting provided to the ombudsman throughout the report period. The healthcare providers are actively recruiting and filling vacant shifts with float pools, overtime, agency staff, per diems, and bonuses. Ms. Koenig did not find any concerns related to procurement of adequate supplies such as food, drugs, and medical supplies, among other necessary items. Based on the ombudsman's observations during each of the visits, the supply rooms appeared to be stocked with enough supplies and equipment to provide safe patient care. The ombudsman may be reached at: Suzanne Koenig, CEO SAK Healthcare 300 Saunders Road, Suite 300 Riverwoods, IL 60015 Phone: 847-446-8400 Email: skoenig@sakhealthcare.com About Prospect Medical Holdings Prospect Medical Holdings owns Roger Williams Medical Center, Our Lady of Fatima Hospital, and several other healthcare facilities. Prospect Medical Holdings and its affiliates filed Chapter 11 petitions (Bankr. N.D. Texas Lead Case No. 25-80002) on January 11, 2025. At the time of the filing, Prospect Medical Holdings reported between $1 billion and $10 billion in both assets and liabilities. Judge Stacey G. Jernigan handles the cases. The Debtors' bankruptcy attorneys are Thomas R. Califano, Esq., and Rakhee V. Patel, Esq., at Sidley Austin LLP, in Dallas, Texas; and William E. Curtin, Esq., Patrick Venter, Esq., and Anne G. Wallice, Esq., at Sidley Austin LLP, in New York. The Debtors also tapped Alvarez & Marsal North America, LLC as financial advisor; Houlihan Lokey, Inc. as investment banker; and Omni Agent Solutions, Inc. as claims, noticing and solicitation agent. Suzanne A. Koenig is the patient care ombudsman appointed in the Debtors' cases. PUERTO RICO: PREPA Bondholders Withdraw Reorg. Deal Support ----------------------------------------------------------- Emily Lever of Law360 reports that Puerto Rico Electric Power Authority bondholders announced Tuesday, October 7, 2025, that they are stepping away from a prior reorganization agreement to support a rival bankruptcy plan. In filings, the bondholders said they were uniting with other creditor factions that consider the alternate proposal more favorable than the existing restructuring terms, the report states. About Puerto Rico Puerto Rico is a self-governing commonwealth in association with the United States. The chief of state is the President of the United States of America. The head of government is an elected Governor. There are two legislative chambers: the House of Representatives, 51 seats, and the Senate, 27 seats. The governor-elect is Ricardo Antonio Rossello Nevares, the son of former governor Pedro Rossello. In 2016, the U.S. Congress passed PROMESA, which, among other things, created the Financial Oversight and Management Board and imposed an automatic stay on creditor lawsuits against the government, which expired May 1, 2017. The members of the oversight board are: (i) Andrew G. Biggs, (ii) Jose B. Carrion III, (iii) Carlos M. Garcia, (iv) Arthur J. Gonzalez, (v) Jose R. Gonzalez, (vi) Ana. J. Matosantos, and (vii) David A. Skeel Jr. On May 3, 2017, the Commonwealth of Puerto Rico filed a petition for relief under Title III of the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA). The case is pending in the United States District Court for the District of Puerto Rico under case number 17-cv-01578. A copy of Puerto Rico PROMESA petition is available at http://bankrupt.com/misc/1701578-00001.pdf On May 5, 2017, the Puerto Rico Sales Tax Financing Corporation (COFINA) commenced a case under Title III of PROMESA (D.P.R. Case No. 17-01599). Joint administration has been sought for the Title III cases. On May 21, 2017, two more agencies; Employees Retirement System of the Government of the Commonwealth of Puerto Rico and Puerto Rico Highways and Transportation Authority (Case Nos. 17-01685 and 17-01686) commenced Title III cases. U.S. Chief Justice John Roberts named U.S. District Judge Laura Taylor Swain to preside over the Title III cases. The Oversight Board has hired as advisors, Proskauer Rose LLP and Neill & Borges LLC as legal counsel, McKinsey & Co. as strategic consultant, Citigroup Global Markets as municipal investment banker, and Ernst & Young, as financial advisor. Martin J. Bienenstock, Esq., Scott K. Rutsky, Esq., and Philip M. Abelson, Esq., of Proskauer Rose LLP; and Hermann D. Bauer, Esq., at O'Neill & Borges LLC are onboard as attorneys. Prime Clerk LLC is the claims and noticing agent. Prime Clerk maintains the case Web site https://cases.primeclerk.com/puertorico Jones Day is serving as counsel to certain ERS bondholders. Paul Weiss is counsel to the Ad Hoc Group of Puerto Rico General Obligation Bondholders. RAMDEEM'S ELECTRICAL: Case Summary & 20 Top Unsecured Creditors --------------------------------------------------------------- Debtor: Ramdeen's Electrical Contracting Corp. 132-10A Liberty Avenue South Richmond Hill NY 11419 Business Description: Ramdeen's Electrical Contracting Corp. provides residential, commercial, and industrial electrical contracting services from its base in South Richmond Hill, New York, serving clients across New York City, Long Island, and the Hudson Valley, and is licensed to perform a range of electrical and home improvement work. Chapter 11 Petition Date: October 2, 2025 Court: United States Bankruptcy Court Eastern District of New York Case No.: 25-44811 Judge: Hon. Nancy Hershey Lord Debtor's Counsel: James J. DeCristofaro, Esq. THE LAWYWER JAMES J. DECRISTOFARO, ESQ. P.C. 485 Madison Ave Fl 7 New York, NY 10022 Tel: (212) 500-1891 Email: JAMES@DCLFIRM.COM Total Assets: $566,881 Total Liabilities: $6,981,871 The petition was signed by Mark Ramdeen as vice president. A full-text copy of the petition, which includes a list of the Debtor's 20 largest unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/ZNCTMGY/Ramdeens_Electrical_Contracting__nyebke-25-44811__0001.0.pdf?mcid=tGE4TAMA RAZZOO'S INC: Gets Interim Court Okay to Tap $3.3MM DIP Financing ----------------------------------------------------------------- Yun Park of Law360 Bankruptcy Authority reports that a Texas bankruptcy court on Tuesday, October 7, 2025, granted interim approval for Razzoo's Inc. to access a $3.3 million debtor-in-possession loan from its prepetition lender, First Horizon Bank. The Cajun restaurant chain said the financing will provide the liquidity needed to sustain operations, pay employees, and cover ongoing expenses during its Chapter 11 restructuring. A final hearing to approve the full facility is expected in the coming weeks, the report states. About Razzoo's, Inc. Razzoo's, Inc. operates a chain of casual dining restaurants that specialize in Cajun-inspired cuisine and Louisiana-style dishes across Texas, North Carolina, and Oklahoma. Founded in 1991 in Dallas, Texas, the Company has expanded to multiple locations offering a menu that includes seafood, fried specialties, and traditional Cajun items such as boudin balls, Rat Toes, and alligator tail. The restaurants are known for combining bold bayou flavors with a lively atmosphere that reflects Cajun culture and tradition. Razzoo's, Inc. in Addison, TX, sought relief under Chapter 11 of the Bankruptcy Code filed its voluntary petition for Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 25-90522) on Sept. 30, 2025, listing as much as 10 million to $50 million in both assets and liabilities. Philip Parsons, CEO of the Debtor, signed the petition. Judge Alfredo R Perez oversees the case. OKIN ADAMS BARTLETT CURRY LLP serve as the Debtor's legal counsel. DONLIN, RECANO & COMPANY, LLC as claims and noticing agent. STOUT CAPITAL, LLC as investment banker. STOUT RISIUS ROSS, LLC as financial advisor. RED DOOR PIZZA: Gets Final Approval to Use Cash Collateral ---------------------------------------------------------- Red Door Pizza, LLC received final approval from the U.S. Bankruptcy Court for the District of South Carolina to use cash collateral consistent with the budgets filed on September 23. The Debtor may carry forward unused budget line items into subsequent weeks. Additionally, the Debtor may exceed any budgeted line item by up to 10%. The Debtor is authorized to pay court-approved professional fees and expenses, as a variance from the budgeted amounts, provided that such variance does not exceed $10,000 per month and is supported by available cash flow. All other terms of the first interim order remain in effect. About Red Door Pizza LLC Red Door Pizza, LLC operates in the restaurant industry, specializing in pizzas made with fresh ingredients and cooked in wood-fired ovens. It is 100% owned by Red Door Brands, LLC, a company that manages multiple fast-casual and quick-service dining concepts across the Southeastern United States. Red Door Pizza sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.S.C. Case No. 25-02701) on July 15, 2025. In its petition, the Debtor reported up to $50,000 in assets and between $1 million and $10 million in liabilities. Judge Helen E. Burris oversees the case. The Debtor is represented by: Christine E. Brimm, Esq. Barton Brimm, PA Tel: 803-256-6582 Email: cbrimm@bartonbrimm.com RED DOOR SANDWICH: Gets Final OK to Use Cash Collateral ------------------------------------------------------- Red Door Sandwich, LLC received final approval from the U.S. Bankruptcy Court for the District of South Carolina to use cash collateral. The final order authorized the Debtor to use cash collateral consistent with the budget filed on September 23. Nothing in the final order directs the Debtor to make specified payments contained in the budget. The Debtor may carry over unused line items in the budget to a subsequent week and, in addition to such carryover amounts, the Debtor may exceed any line item within the budget, provided such variance is not in excess of 10%. The Debtor is authorized to pay court-approved professional fees and expenses, as a variance from the budgeted amounts, provided cash flow permits and the variance does not exceed $10,000 per month. All other terms of the initial interim order remain in effect. About Red Door Sandwich LLC Red Door Sandwich, LLC operates restaurant franchises and is a subsidiary of Red Door Brands, a company based in Greenville, South Carolina. It manages multiple food service concepts across the Southeastern United States. Red Door Sandwich sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.S.C. Case No. 25-02700) on July 15, 2025. In its petition, the Debtor reported estimated assts and liabilities between $1 million and $10 million. The petition was signed by Argus Wiley as manager. The Debtor is represented by: Christine E. Brimm, Esq. Barton Brimm, PA Tel: 803-256-6582 Email: cbrimm@bartonbrimm.com RED RIVER: 3d Circ. Won't Revisit J&J Investor Certification Appeal ------------------------------------------------------------------- Emlyn Cameron of Law360 reports that the Third Circuit on Tuesday, October 7, 2025, rejected Johnson & Johnson’s request to revisit its appeal over class certification in an investor lawsuit alleging the company misled shareholders about the cancer risks associated with its talc-based products. The ruling upholds a New Jersey federal judge's decision permitting investors to proceed with claims that J&J inflated its stock value by concealing safety concerns. The company had petitioned for an en banc review after a panel affirmed the certification earlier this 2025, the report states. About J&J Talc Units LLT Management, LLC (formerly known as LTL Management LLC) was a subsidiary of Johnson & Johnson that was formed to manage and defend thousands of talc-related claims and oversee the operations of Royalty A&M. Royalty A&M owns a portfolio of royalty revenue streams, including royalty revenue streams based on third-party sales of LACTAID, MYLANTA/MYLICON and ROGAINE products. LTL Management first filed a petition for Chapter 11 protection (Bankr. W.D.N.C. Case No. 21-30589) on Oct. 14, 2021. The case was transferred to New Jersey (Bankr. D.N.J. Case No. 21-30589) on Nov. 16, 2021. The Hon. Michael B. Kaplan is the case judge. At the time of the filing, the Debtor was estimated to have $1 billion to $10 billion in both assets and liabilities. In the 2021 case, LTL Management tapped Jones Day and Rayburn Cooper & Durham, P.A., as bankruptcy counsel; King & Spalding, LLP and Shook, Hardy & Bacon LLP as special counsel; McCarter & English, LLP as litigation consultant; Bates White, LLC as financial consultant; and AlixPartners, LLP as restructuring advisor. Epiq Corporate Restructuring, LLC, served as the claims agent. On Dec. 24, 2021, the U.S. Trustee for Regions 3 and 9 reconstituted the talc claimants' committee and appointed two separate committees: (i) the official committee of talc claimants I, which represents ovarian cancer claimants, and (ii) the official committee of talc claimants II, which represents mesothelioma claimants. The official committee of talc claimants I tapped Genova Burns LLC, Brown Rudnick LLP, Otterbourg PC and Parkins Lee & Rubio LLP as its legal counsel. Meanwhile, the official committee of talc claimants II is represented by the law firms of Cooley LLP, Bailey Glasser LLP, Waldrep Wall Babcock & Bailey PLLC, Massey & Gail LLP, and Sherman Silverstein Kohl Rose & Podolsky P.A. Re-Filing of Chapter 11 Petition On Jan. 30, 2023, a panel of the Third Circuit issued an opinion directing this Court to dismiss the 2021 Chapter 11 Case on the basis that it was not filed in good faith. Although the Third Circuit panel recognized that the Debtor "inherited massive liabilities" and faced "thousands" of future claims, it concluded that the Debtor was not in financial distress before the filing. On March 22, 2023, the Third Circuit entered an order denying the Debtor's petition for rehearing. The Third Circuit entered an order denying LTL's stay motion on March 31, 2023, and, on the dame day,issued its mandate directing the Bankruptcy Court to dismiss the 2021 Chapter 11 Case. The Bankruptcy Court entered an order dismissing the 2021 Case on April 4, 2023. Johnson & Johnson on April 4, 2023, announced that its subsidiary LTL Management LLC (LTL) has re-filed for voluntary Chapter 11 bankruptcy protection (Bankr. D.N.J. Case No. 23-12825) to obtain approval of a reorganization plan that will equitably and efficiently resolve all claims arising from cosmetic talc litigation against the Company and its affiliates in North America. In the new filing, J&J said it has agreed to contribute up to a present value of $8.9 billion, payable over 25 years, to resolve all the current and future talc claims, which is an increase of $6.9 billion over the $2 billion previously committed in connection with LTL's initial bankruptcy filing in October 2021. LTL also has secured commitments from over 60,000 current claimants to support a global resolution on these terms. In August 2023, U.S. Bankruptcy Judge Michael Kaplan in Trenton, New Jersey, ruled that the second bankruptcy case should be dismissed. 3rd Try In May 2024, J&J announced its subsidiary LLT Management LLC is soliciting support for a consensual prepackaged bankruptcy plan to resolve its talc-related liabilities. Under the terms of the plan, a trust would be funded with over $5.4 billion in the first three years and more than $8 billion over the course of 25 years, which J&J calculates to have a net present value of $6.475 billion. If the Plan is accepted by at least 75% of voters, a bankruptcy was to be filed under the case name In re Red River Talc LLC. Epiq Corporate Restructuring, LLC is serving as balloting and solicitation agent for LLT. On Sept. 20, 2024, Red River Talc LLC filed a Chapter 11 bankruptcy petition (Bankr. S.D. Tex. Case No. 24-90505). Porter Hedges LLP and Jones Day serve as counsel in the new Chapter 11 case. Epiq is the claims agent. Paul Hastings LLP is counsel to the Ad Hoc Committee of Supporting Counsel. Randi S. Ellis is the proposed prepetition legal representative of future claimants. RELIANT LIFE: Amends Several Unsecured Claims Pay Details --------------------------------------------------------- Reliant Life Shares, LLC, submitted a First Amended Disclosure Statement describing First Amended Plan of Liquidation dated September 29, 2025. The Plan provides for the winding down of the Debtor, which will place its assets in a Liquidating Trust on the Effective Date with a Liquidating Trustee to be designated prior to Plan confirmation. On the Effective Date, the Life Settlement Policies within the New Trust will be pooled and the sub-trust structure eliminated so that Investors with Active Positions maintain the same amount of death benefits they held under the prior structure, but spread across a pooled portfolio of Life Settlement Policies held by the New Trust. All assets of the Debtor, including Residual Interests and Estate Claims, will vest in the Liquidating Trust on the Effective Date and creditors holding Allowed claims will receive a pro rata beneficial interest in the Liquidating Trust equal to the amount of their Allowed claim. The Liquidating Trustee shall be responsible for the liquidation of the Debtor's assets and the prosecution of Estate Claims, with the net proceeds from these assets to be used to make Distributions to Holders of Allowed Claims as set forth in the Plan. In 2019, the Cooper Parties obtained an order from the Los Angeles Superior Court that required an insurance company to transfer an ownership and beneficial interest totaling $2.5 million in a policy referred to as the "Friwat Policy" and ordered the Debtor to pay the premiums associated with that interest. It also ordered that the Debtor transfer ownership and beneficial interest in approximately 59 positions with death benefits totaling $880,225.98 to the Cooper Parties and that the Debtor be obligated to pay the premiums associated with those positions. It is unclear whether or to what extent the Debtor complied with this order prior to the appointment of the receiver. The Friwat Policy is not one that was in effect as of the Petition Date. As part of the pooling concept, the Debtor intends to shed policies, by either selling, surrendering, or allowing such policies to lapse, that are not needed to maintain the death benefits for those Reliant clients who want to continue to preserve their death benefits. The Debtor has used the invoicing process to identify which clients want to preserve their death benefits and as of September 29, 2025, approximately 442 clients have elected to maintain their death benefits, which total approximately $53.8 million. Class 3b consists of the Allowed Unsecured Claim of the Cooper Parties, which is Allowed in the amount of $10 million. On the Effective Date, the Cooper Parties shall receive a pro rata share of the beneficial interest in the Liquidating Trust in full satisfaction, settlement, discharge, and release of, and in exchange for its Allowed Class 3b Unsecured Claim, which shall entitle the Cooper Parties to their Pro Rata Distribution of the Available Trust Proceeds after senior Classes are Paid in Full, subject to any applicable cap under and otherwise in accordance with the Cooper Stipulation, with all Pro Rata Distributions on the Allowed Class 3b Unsecured Claim to be made on a Pro Rata basis with the Allowed General Unsecured Claims in Class 3c. Class 3c consists of all General Unsecured Claims unrelated to either Active Positions in the Original Trust or the New Trust or to forfeited positions in the Original Trust or the New Trust and who, if they are an Investor, elect on their ballot to assign their Personal Claims to the Liquidating Trust. Class 3c includes any Claims by Investors based on allegations that the Debtor or its agents engaged in fraud, as long as the Investor elects on their ballot to assign their Personal Claims to the Liquidating Trust. On the Effective Date, each Holder of an Allowed Class 3C General Unsecured Claim shall receive a pro rata share of the beneficial interest in the Liquidating Trust in full satisfaction, settlement, discharge, and release of, and in exchange for its Allowed Unsecured Claim, which shall entitle such Holder to their Pro Rata Distribution of the Available Trust Proceeds after all senior Classes are Paid in Full. On the Effective Date, all Assets of the Debtor will vest in the Liquidating Trust. The Liquidating Trustee will fund Distributions to creditors with Allowed Claims, prosecute the Estate Claims, and otherwise implement the Plan. In addition, on the Effective Date, all of the Life Settlement Policies held by the Original Trust or the New Trust will be deemed pooled into the New Trust and all sub-trusts will be deemed dissolved. Last, the entry of the Confirmation Order will be deemed a ratification of all actions taken by the Receiver and the Debtor to initiate this Bankruptcy Case. A full-text copy of the First Amended Disclosure Statement dated September 29, 2025 is available at https://urlcurt.com/u?l=DA57f7 from Stretto, claims agent. Reliant Life Shares, LLC is represented by: Hamid R. Rafatjoo, Esq. RAINES FELDMAN LITTRELL LLP 1900 Avenue of the Stars 19th Floor Los Angeles, CA 90067 Tel: 310-440-4100 Email: hrafatjoo@raineslaw.com About Reliant Life Shares Reliant Life Shares LLC is an investment service in Los Angeles, California. Reliant Life Shares sought relief under Chapter 11 of the U.S. Bankruptcy Code {Bankr. C.D. Cal. Case No. 24-11695) on Oct. 7, 2024. In the petition filed by CRO Nicholas Rubin, Reliant estimated assets and liabilities between $10 million and $50 million each. The Honorable Bankruptcy Judge Martin R. Barash oversees the case. The Debtor tapped Raines Feldman Littrell LLP as counsel, and Force Ten Partners LLC as restructuring advisor. Stretto is the claims agent. REVIVA PHARMACEUTICALS: 683 Capital Entities Hold 5.36% Stake ------------------------------------------------------------- 683 Capital Management, LLC, 683 Capital Partners, LP, and Ari Zweiman, disclosed in a Schedule 13G filed with the U.S. Securities and Exchange Commission that as of September 22, 2025, they beneficially own 5,435,000 shares of Common Stock, par value $0.0001 per share, of Reviva Pharmaceuticals Holdings, Inc., representing 5.36% of the outstanding shares. This includes 450,000 shares directly held by 683 Capital Partners, LP and 4,985,000 shares issuable upon exercise of currently exercisable warrants, with shared voting and dispositive power among the Reporting Persons. The Reporting Persons may be reached through: Ari Zweiman 683 Capital Management, LLC / 683 Capital Partners, LP 1700 Broadway, Suite 4200 New York, N.Y. 10019 Tel: (212) 554-2379 A full-text copy of the 683 Capital's SEC report is available at: https://tinyurl.com/mtkwu32 About Reviva Pharmaceuticals Holdings Cupertino, Calif.-based Reviva Pharmaceuticals Holdings, Inc. is a late-stage biopharmaceutical company that discovers, develops, and seeks to commercialize next-generation therapeutics for diseases representing unmet medical needs and burdens to society, patients, and their families. San Francisco, Calif.-based Moss Adams LLP, the Company's auditor since 2023, issued a "going concern" qualification in its report dated April 2, 2025, attached to the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2024, citing that the Company has suffered recurring losses from operations and has a net capital deficiency that raise substantial doubt about its ability to continue as a going concern. As of Dec. 31, 2024, the Company had $15.5 million in total assets, $14.7 million in total liabilities, and a total stockholders' equity of $0.8 million. REYNA HOSPITALITY: Hires Davidoff Hutcher & Citron LLP as Attorney ------------------------------------------------------------------ Reyna Hospitality Group Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to hire Davidoff Hutcher & Citron LLP as its attorneys. The professional services the firm will render are: a. give advice to the Debtor with respect to its powers and duties as Debtor-in-Possession and the continued management of its property and affairs; b. negotiate with creditors of the Debtor and work out a plan of reorganization and take the necessary legal steps in order to effectuate such a plan including, if need be, negotiations with the creditors and other parties in interest; c. prepare the necessary answers, orders, reports and other legal papers required for a debtor who seeks protection from its creditors under Chapter 11 of the Bankruptcy Code; d. appear before the Bankruptcy Court to protect the interest of the Debtor and to represent the Debtor in all matters pending before the Court; e. attend meetings and negotiate with representatives of creditors and other parties in interest; f. advise the Debtor in connection with any potential refinancing of secured debt and any potential sale of the business; g. represent the Debtor in connection with obtaining post-petition financing; h. take any necessary action to obtain approval of a disclosure statement and confirmation of a plan of reorganization; and i. perform all other legal services for the Debtor which may be necessary for the preservation of the Debtor’s estate and to promote the best interests of the Debtor, its creditors and the estate. The hourly rates of the firm's counsel and staff are: Attorneys $450 to $850 Paraprofessionals $295 In addition, the firm will seek reimbursement for expenses incurred. Robert Rattet, Esq., an attorney at Davidoff Hutcher & Citron, 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 L. Rattet, Esq. Davidoff Hutcher & Citron LLP 120 Bloomingdale Road, Suite 100 White Plains, NY 10605 Telephone: (914) 381-7400 About Reyna Hospitality Group Inc Reyna Hospitality Group Inc operates a restaurant in New York City under the name Reyna New York. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. N.Y. Case No. 25-12020-lgb) on September 16, 2025. In the petition signed by Veronique Laborie, president, the Debtor disclosed up to $1 million in both assets and liabilities. Judge Lisa G. Beckerman oversees the case. Robert L. Rattet, Esq., at Davidoff Hutcher & Citron LLP, represents the Debtor as legal counsel. RITE AID: Fails to Comply with Chapter 11 Sale Order, CVS Says -------------------------------------------------------------- Vince Sullivan of Law360 Bankruptcy Authority reports that CVS Pharmacy Inc. has asked a New Jersey bankruptcy court to enforce a May 2025 order approving its purchase of 625 Rite Aid pharmacies and 64 drug store locations. The company claims that Rite Aid has not provided the mandated druggist insurance for former employees now employed by CVS, as required under the asset purchase agreement, and is seeking a court order to compel compliance, the report states. 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. RIZO-LOPEZ FOODS: Hires Stapleton Group as Financial Advisor ------------------------------------------------------------ Rizo-Lopez Foods, Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of California to hire Stapleton Group as financial advisor. The firm will render these services: (a) evaluate balance sheet, income statement, and cash flow reports; (b) assist in plan formulation, and prepare or assist in the creation of financial statement projections, 13-week cash flow projections and liquidation analysis; (c) assess the feasibility of the business plan and make recommendations regarding options; (d) liaise with Wells Fargo bank regarding the go-forward strategy and plan; (e) coordinate with the investment banking team, and; (f) provide other services as may be requested by the Debtor. Stapleton's customary hourly rates are: Principal/Sr. Managing Director $550 Managing Director $475 Director $425 Associate director $395 Junior Analyst $315 Clerical/Support $170 Stapleton received payments and advances in the aggregate amount of $174,207.50. Mike Bergthold, managing director of Stapleton, disclosed in a court filing that his firm is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code. The firm can be reached through: Mike Bergthold Stapleton Group, Inc. 1420 Fifth Avenue, Suite 2200 Seattle, WA 98101 Telephone: (213) 404-0113 Facsimile: (213) 235-0620 Email: mbergthold@stapletoninc.com About Rizo-Lopez Foods, Inc. Rizo-Lopez Foods, Inc. produces Mexican-style dairy products including cheeses, sour creams, and desserts under the Tio Francisco and Don Francisco brands. Rizo-Lopez Foods, Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Ca. Case No. 25-25004) on September 15, 2025. At the time of filing, the Debtor estimated $10 million to $50 million in assets and $50 million to $100 million in liabilities. The petition was signed by Edwin Rizo as chief executive officer. Judge Christopher M Klein presides over the case. Hagop T. Bedoyan, Esq. at MCCORMICK, BARSTOW, SHEPPARD, WAYTE & CARRUTH represents the Debtor as counsel. RURAL CONNECT: Educational Broadband Counsel DQ'd ------------------------------------------------- In the case captioned as EDUCATIONAL BROADBAND CORPORATION, Plaintiff, vs. RURAL CONNECT, LLC, Defendant, Case No. 24-1206-STA-jay (W.D. Tenn.), Judge S. Thomas Anderson of the United States District Court for the Western District of Tennessee affirmed in its entirety the Magistrate Judge's order granting the motion of Rural Connect, LLC to disqualify counsel for Educational Broadbrand Corporation. Plaintiff's objections are overruled. This case concerns a contract dispute. Specifically, a lease, which was originally entered into between EBC and Wisper, LLC in 2012. The lease concerns telecommunication services commonly referred to as "spectrum." EBC holds a license with the FCC permitting them to use specific spectrum, and EBC may lease out excess capacity spectrum to third parties. Under the lease at issue, EBC leased its excess capacity spectrum to Wisper via a "Long Term De Facto Transfer Lease Agreement" on March 9, 2012. In 2013, Wisper filed for Chapter 11 bankruptcy through attorneys that are not involved in the present case. In the course of that bankruptcy, a surviving business entity, Wisper II, LLC, emerged. Wisper II acquired all assets and liabilities of Wisper. Relevant in the present case, Wisper II emerged as a board-managed LLC, including EBC's sole shareholder, Tom Farrell. Therefore, Tom Farrell became a manager of both Wisper II and EBC. The Spectrum Lease was then amended and undertaken by Wisper II independent of legal advice from Glankler Brown attorneys. In 2016, Wisper II filed for Chapter 11 bankruptcy with Glankler Brown attorney Michael P. Coury as counsel of record. Under the confirmed Chapter 11 plan, the Spectrum Lease was assumed by Wisper II and then consensually amended by Tom Farrell as the manager of both entities on behalf of both entities. Farrell purportedly advised Coury of how the plan should treat the Spectrum Lease and there were no actual negotiations between Wisper II and EBC. Wisper II changed its name to Rural Connect, LLC in 2019. Rural Connect filed for Chapter 11 bankruptcy in 2021 with Glankler Brown attorneys Coury and Ricky Hutchens as counsel of record. In the course of Rural Connect's bankruptcy, the principal adverse creditor, Ally Finance, purchased the membership interest of all the non-Ally related members. Farrell ceased management of Rural Connect in June 2022 when Ally purchased the remaining membership interests. Notably, the Glankler Brown attorneys' representation of Rural Connect raised an adversarial conflict issue, given that the Glankler Brown attorneys also represented an entity with a minority membership interest in Rural Connect. Rural Connect now seeks to disqualify Coury and Hutchens due to their prior representation of the Debtor and its predecessor in previous proceedings involving the Spectrum Lease. Rural Connect believes that the Glankler Brown attorneys' representation of EBC in the present matter violates Rules 1.8 and 1.9 of the Tennessee Rules of Professional Conduct and must be excluded under Bowers v. Ophthalmology Grp., 733 F.3d 647, 651 (6th Cir. 2013). Additionally, Rural Connect claims that the Glankler Brown attorneys are likely to testify in the present matter and are in violation of Rule 3.7 of the Tennessee Rules of Professional Responsibility. EBC claims that the Glankler Brown attorneys' prior representation of Rural Connect does not involve the same or substantially related matters as presented in this case. EBC argues that any purported confidential information provided by Farrell will simply be provided to any subsequent counsel, meaning that disqualification will not prevent EBC from using any alleged confidential information. The Court finds that the Magistrate Judge correctly set forth the applicable law and cogently applied it to any disputed issues; thus, his decision was not "clearly erroneous or contrary to law." The Court agrees with the Magistrate Judge's determination and with Defendant's position that the subjects of the current dispute -- the Spectrum Lease and Payment Deferral Agreement -- were central to the bankruptcy plans that Glankler Brown helped craft on Defendant's behalf, even though the scope of the bankruptcy proceedings and this current contract dispute are distinct. Judge Anderson explains, "The bankruptcy reorganization plan's assumptions, deferral terms, and lease compliance were negotiated and implemented during Glankler Brown's representation. As the Magistrate Judge determined, ultimately, this case is substantially related to the prior representation because the matters or transactions in question are relevantly interconnected or reveal the client's pattern of conduct." Plaintiff will have 28 days from the entry of this order in which to inform the Court of its new attorney. A copy of the Court's Order is available at https://urlcurt.com/u?l=sB1p6U from PacerMonitor.com. About Rural Connect, LLC Rural Connect, LLC provides wireless internet service to customers in rural areas of West Tennessee. It uses towers that have a combination of fiber and microwave to produce high speed internet in rural areas. It presently has approximately 16 employees and approximately 1,500 customers who rely on it for internet service. Rural Connect sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tenn. Case No. 21-10872) on September 29, 2021. In the petition signed by Thomas P. Farrell, general manager, the Debtor disclosed up to $50,000 in assets and up to $10 million in liabilities. Judge Jimmy L. Croom oversees the case. Michael P. Coury, Esq., at Glanker Brown PLLC is the Debtor's counsel. Ally Finance Corp., as secured creditor, is represented by: Vincent K. Seiler, Esq. Seller and Houston, PLLC 125 Stonebridge Boulevard Post Office Box 10455 Jackson, TN 38302 Tel: (731)300-3656 Fax: (731)300-3657 Email: vks@seiler-houston.com S&B GROUP: Seeks to Hire Fallon Law PC as Bankruptcy Counsel ------------------------------------------------------------ S&B Group Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to hire Fallon Law PC as bankruptcy counsel. The firm's services include: a. preparing pleadings, schedules and statements of financial affairs, adversary proceedings and applications incidental to administering the estate; b. developing the relationship and status of debtor-in-possession and handling of claims of creditors in these proceedings, all in the best interests of the Debtor, creditors and other interested parties; c. advising the debtor-in-possession of its rights, duties and obligations as a debtor-in-possession; d. performing legal services incidental and necessary to the day-to-day operation of the Debtor; e. taking any and all necessary actions incident to the proper preservation and administration of the Debtor and to the conduct of its business; f. preparing a plan of reorganization; and g. providing post-confirmation legal services in connection with implementation of the plan. Brad Fallon, the legal professional anticipated to work on this matter, is $350 per hour. As disclosed in the court filings, Fallon Law is a disinterested party as contemplated by 11 U.S.C. Sec. 101(14). The firm can be reached through: Brad Fallon, Esq. FALLON LAW PC 1201 W. Peachtree St. NW, Suite 2625 Atlanta, GA 30309 Telephone: (404) 849-2199 Facsimile: (470) 994-0579 Email: brad@fallonbusinesslaw.com About S&B Group Inc. S&B Group Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-60011) on August 31, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Lisa Ritchey Craig handles the case. The Debtor is represented by Brad Fallon, Esq. at FALLON LAW PC. S&G HOSPITALITY: Court Extends Cash Collateral Access to Nov. 30 ---------------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Ohio, Eastern Division approved a stipulation authorizing S&G Hospitality, Inc. and its affiliates to use the cash collateral of RSS COMM2015-PC1-OH BL, LLC. The stipulation allows the Debtors to use cash collateral through November 30 in accordance with the terms of their revised budget, which outlines total departmental expenses of $320,000 for the period from September 29 to November 24. The budget reflects the Debtors making payment of $90,000 to RSS as adequate protection for the use of its cash collateral. Of this amount, $17,673.40 is being escrowed for real property taxes and $8,277.39 for insurance while the balance will go towards RSS' obligations in accordance with the terms of their loan agreements. Any such internal allocation by RSS does not bind the court in determining the allowed amount of its claim or the value of its collateral. All provisions of prior cash collateral orders remain in effect. RSS is represented by: Tami Hart Kirby, Esq. Walter Reynolds, Esq. Porter Wright Morris & Arthur LLP One South Main Street, Suite 1600 Dayton, OH 45402-2028 Telephone: (937) 449-6721 Facsimile: (937) 449-6820 tkirby@porterwright.com wreynolds@porterwright.com About S&G Hospitality Inc. S&G Hospitality, Inc. operates in the traveler accommodation industry. S&G Hospitality filed Chapter 11 petition (Bankr. S.D. Ohio Case No. 23-52859) on August 18, 2023, listing up to $10 million in assets and up to $1 million in liabilities. Abijit Vasani, president of S&G Hospitality, signed the petition. Judge Mina Nami Khorrami oversees the case. The Debtor is represented by: David Alan Beck, Esq. Carpenter Lipps & Leland LLP Tel: 614-365-4100 Email: beck@carpenterlipps.com SALLY'S RESTAURANT: Taps MNG Tax Accounting Service as Accountant ----------------------------------------------------------------- Sally's Restaurant LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ MNG Tax Accounting Service Corp. as its accountants. The firm will render these services: a. prepare the monthly Chapter 11 operating reports; b. prepare and file yearly Federal and New York State tax returns; c. prepare yearly balance sheets and cash flow statements; and d. prepare and file NYC RPIE forms. H&K's rates are: -- Preparation of Chapter 11 Monthly Operating reports: $300/month -- Yearly tax returns: $1,250 -- Workers' Compensation Audit: $250 -- NYS Sales Tax reconciliation and remittance $250/quarter -- Monthly Bookkeeping $250 -- Miscellaneous $200/hr MNG Tax Accounting Service Corp is a "disinterested person" as that term is defined in Sec. 101(14) of the Bankruptcy Code. The firm can be reached through: Mariya Shagabayeva MNG Tax Accounting Service Corp 6201 Bay Parkway - Ste E4 Brooklyn, NY 11204 Phone: (602) 321-0733 Email: mngacct21@gmail.com About Sally's Restaurant LLC Sally's Restaurant LLC is a food service business operating in Brooklyn, New York. Sally's Restaurant LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-4384) on August 8, 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 Jil Mazer-Marino handles the case. The Debtor is represented by Gregory A. Flood, Esq., at the Law Offices of Gregory A. Flood. SCV GRAPHIC: Seeks to Hire Simone & Roos LLP as Special Counsel --------------------------------------------------------------- SCV Graphic Productions Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to hire Simone & Roos, LLP as special counsel. The firm will advise and represent the Debtor in connection with the eviction action and any related negotiations or proceedings. The firm's services include: a. advising the Debtor regarding the pending eviction action and related lease issues; b. negotiating with the landlord and its counsel to seek resolution or extension of the tenancy; c. representing the Debtor in any state or federal court eviction or unlawful detainer proceedings; d. assisting with drafting, reviewing, and interpreting any agreements, stipulations, or orders necessary to resolve the eviction action; e. providing such other related legal advice in connection with the eviction action as may be necessary and appropriate; f. preparing and interpreting governing documents; and g. providing related legal advice. The firm's standard hourly rates are: Partner $495 Senior Associate/Associate $450 Legal Assistant $200 Law Clerk $200 In addition, the firm will seek reimbursement for expenses incurred. Martin M. Simone, Esq., a partner of Simone & Roos, assured the court that his firm is a "disinterested person" within the meaning of 11 U.S.C. 101(14). The firm can be reached through: Martin M. Simone, Esq. Simone & Roos LLP 5627 Sepulveda Blvd., Suite 206 Sharman Oaks, CA 91411 Tel: (818) 788-1914 Fax: (818) 208-9110 About SCV Graphic Productions Inc. SCV Graphic Productions Inc., operating as Dangling Carrot Creative, is a custom graphics and display manufacturing company that specializes in manufacturing custom displays, signage, and creative installations using materials such as composites, plastics, and foams, alongside printing and imaging technology. The company maintains operations in both Fayetteville, Georgia and Valencia, California, with its principal place of business located in Georgia. SCV Graphic Productions Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-10613) on April 28, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. The Debtor is represented by Benjamin R. Keck, Esq. at Keck Legal, LLC. SD BACKYARD: Unsecureds to Get 67 Cents on Dollar in Plan --------------------------------------------------------- SD Backyard, LLC, filed with the U.S. Bankruptcy Court for the Southern District of California a Plan of Reorganization for Small Business dated September 29, 2025. The Debtor is a limited liability company. Since 2016, the Debtor has been in the business of operating restaurants and currently operates five restaurant locations in San Diego. The COVID-19 pandemic and resulting stay-at-home orders impacted the Debtor's ability to generate revenue until late 2021. The Debtor was named as a defendant in three prepetition lawsuits, two of which involve wage and hour/employment claims and the third is for breach of contract case with a vendor. In light of increasing legal expenses associated with the defense of the lawsuits, the Debtor filed a voluntary chapter 11 petition in order to reorganize its affairs and repay its creditors. The Debtor's financial projections show that after payment of ordinary course operating expenses and priority tax claims, the Debtor will have projected disposable income of $298,053.70, all of which will be distributed on account of Unsecured, Allowed Claims. The final Plan payment is expected to be paid on December 1, 2028, which is expected to be 36 months after the Effective Date. This Plan of Reorganization proposes to pay creditors of the Debtor from cash flow from operations. Non-priority Unsecured Claims holding Allowed Claims will receive distributions, which the proponent of this Plan has valued at approximately 67 cents on the dollar. This Plan also provides for the payment of administrative and priority Claims. Class 1 consists of all non-insider, unsecured Claims. Class 1 Claimants will be paid 67% of their Allowed Claims. Distributions on account of Class 1 Disputed Claims will be made into a Disputed Claims Reserve (Ex. 3) unless and until such claim(s) is Allowed by a final non-appealable order from the Bankruptcy Court. Debtor expressly reserves the right to object to any Class 1 Claims, including the Okamura Class 1 Claim. This Class is impaired. Class 2 consists of all Unsecured Claims of Insiders. Exhibit 1 lists the Class 2 Claimants, total payout to be received, and monthly payments. Class 2 Claimants will be paid 67% of their Allowed Claims. This Class is impaired. Equity security holder's interests will be unaffected by the Plan, and the holder of the Class 4 Claim shall retain his full equity interest in the Debtor. The Plan will be funded with Debtor's projected disposable income over the three-year plan term. Shih Hsiao Chou aka Frankin Chou will continue to serve as Debtor's/Reorganized Debtor's sole owner, manager, and president throughout the duration of the Plan. The Debtor shall continue to operate its business and manage estate property in the ordinary course. The Debtor shall maintain all property of the estate and use such property as necessary to generate revenue and satisfy obligations under the Plan. A full-text copy of the Plan of Reorganization dated September 29, 2025 is available at https://urlcurt.com/u?l=cmhtCh from PacerMonitor.com at no charge. Counsel to the Debtor: Mary R. Robberson, Esq. Maggie E. Schroedter, Esq. Lane C. Hilton, Esq. ROBBERSON SCHROEDTER LLP 501 West Broadway, Suite 1260 San Diego, CA 92101 Tel: (619) 353-5691 Email: mary@theRSfirm.com maggie@theRSfirm.com lane@theRSfirm.com About SD Backyard LLC SD Backyard, LLC, is a San Diego-based restaurant group that operates multiple Asian cuisine restaurants including Steamy Piggy, Formoosa, Yun, Viet Nom, and Oi Shiba. SD Backyard sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Cal. Case No. 25-02776) on July 1, 2025. In its petition, the Debtor estimated assets between $50,000 and $100,000 and estimated liabilities between $500,000 and $1 million. The Debtor is represented by Gary B. Rudolph, Esq., at Fennemore, LLP. SDJ MAYPEARL: Claims to be Paid from Property Sale Proceeds ----------------------------------------------------------- SDJ Maypearl, LLC filed with the U.S. Bankruptcy Court for the Northern District of Texas a Plan of Reorganization and Disclosure Statement dated September 29, 2025. The Debtor is the owner of real property located at the intersection of Hwy 157 and Diamondcrest Dr. in Midlothian, TX 76065 (the "Property"). The Property has been platted for residential development. The filing of this bankruptcy case was caused primarily by a default by the Debtor on a secured loan, which led to a posting for foreclosure and ultimately the filing of this case. The Debtor owned the following Assets as of the Petition Date: * Real property located at the intersection of Hwy 157 and Diamondcrest Dr. in Midlothian, TX 76065, scheduled with a value of $3,170,000.00. * Cash in the amount of $1,772.41; The Plan is a Plan of Reorganization. Under the Plan the Debtor will sell its real property located at the intersection of Hwy 157 and Diamondcrest Dr. in Midlothian, TX 76065, and use the sale proceeds to fund the payments due under the Plan. The Debtor scheduled total Unsecured Claims in the amount of $855,763.05. Class 4 consists of Allowed Unsecured Claims. These Claims shall be paid Pro Rata upon the sale of the Property, if any net proceeds remain after payment of Allowed Administrative and Secured Claims. These Claims are Impaired, and the holders of these Claims are entitled to vote to accept or reject the Plan. Class 5 consists of Holders of Equity Interests. Equity Interests shall be retained by the owners of said Interests. The Debtor will complete the sale of the Property as soon as possible. The Debtor anticipates the Property will be sold within six months from the Effective Date. Net proceeds of the sales will be used to pay Allowed Secured Claims, and then to pay Allowed Unsecured Claims if funds are available. A full-text copy of the Plan and Disclosure Statement dated September 29, 2025 is available at https://urlcurt.com/u?l=gMiGR9 from PacerMonitor.com at no charge. Counsel to the Debtor: Joyce W. Lindauer, Esq. Joyce W. Lindauer Attorney, PLLC 117 S. Dallas Street Ennis, TX 75119 Telephone: (972) 503-4033 Facsimile: (972) 503-4034 About SDJ Maypearl, LLC SDJ Maypearl LLC is classified as a single-asset real estate debtor under 11 U.S.C. Section 101(51B), with its principal property located at the intersection of Highway 157 and Diamondcrest Drive in Maypearl, Texas. SDJ Maypearl LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-42368) on June 30, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Mark X. Mullin handles the case. The Debtors are represented by Joyce Lindauer, Esq. at JOYCE W. LINDAUER ATTORNEY, PLLC. SERENITY TENDER: PCO Gets OK to Tap Katherine Anderson as Counsel ----------------------------------------------------------------- Jerry Seelig, the duly appointed Patient Care Ombudsman in the Chapter 11 case of Serenity Tender Care Services, LLC, received approval from the U.S. Bankruptcy Court for the District of Arizona to employ Katherine Anderson Law PLLC as his counsel. The firm will render these services: a. advise, represent and assist the PCO regarding bankruptcy law and those laws, rules, and regulations intended to maintain patient safety and quality of care and to ensure that the patient's Health Insurance Portability and Accountability Act and other consumer privacy protected information is secure and available to appropriate parties; b. assist the PCO by preparing and/or supplementing necessary motions, notices, applications, answers, orders, and papers as necessary to fulfill the requirements of the Bankruptcy Code and Federal Rules of Bankruptcy Procedure; c. identify and oppose relief requested by other parties that, if granted, may cause patient care or privacy to be compromised or otherwise may adversely affect patient care; d. appear before this Court and any appellate courts and represent the PCO and the Debtor's patients before such courts; and e. perform all other necessary legal services typically rendered to a PCO in Chapter 11 proceedings. The firm will be paid at these rates: Katherine Anderson $400 per hour Attorneys $400 Pparalegals $150 and $200 per hour. As disclosed in the court filings, KALaw is a "disinterested person" as that term is defined in 11 U.S.C. Sec. 101(14). The firm can be reached through: Katherine E. Anderson, Esq. KATHERINE ANDERSON LAW PLLC 7508 N. 59th Avenue Glendale, AZ 85301 Tel: (602) 459-4112 Email: katey@katherineandersonlaw.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. SHIELDS NURSING: No Resident Complaints, Ombudsman Report Says -------------------------------------------------------------- Eden Rosales, the Acting State Long-Term Care Ombudsman (LTCO), filed with the U.S. Bankruptcy Court for the Northern District of California her report regarding the quality of patient care provided at Shields Nursing Centers, Inc.'s skilled nursing facilities. The LTCO visited Shields Richmond Nursing Center on August 20, September 3 and 17. LTCO representatives met with more than two dozen residents during three site visits to follow up on issues identified during previous visits, specifically, concerns about food quality and slow responses to call lights. The LTCO visited the facility during different times, with multiple residents indicate the quality of food appears to have improved. Response times were observed to be timely, including for residents living along the back hallway, which has been noted as an area of concern. There were no complaints or unsafe discharges reported during the reporting period. The LTCO visited Shields Nursing Center, El Cerrito, on August 20, September 3 and 12. LTCO representatives met with multiple residents during three on-site facility visits. They received no complaints during these visits and resident quality of care appears to be adequate. There were no reports of unsafe discharges during the reporting period. A copy of the ombudsman report is available for free at https://urlcurt.com/u?l=tdopPO from PacerMonitor.com. About Shields Nursing Centers Shields Nursing Centers, Inc. owns and operates a skilled nursing facility in Hercules, Calif., which offers rehabilitation programs including physical, occupational and speech therapy. Shields Nursing Centers filed its voluntary Chapter 11 petition (Bankr. N.D. Calif. Case No. 23-41201) on Sept. 20, 2023, with $1,726,970 in assets and $13,504,710 in liabilities. Judge Charles Novack oversees the case. The Law Offices of Michael Jay Berger serves as the Debtor's bankruptcy counsel. SHILO INN: Unsecureds Owed $1K+ to be Paid in Full over 5 Years --------------------------------------------------------------- Shilo Inn, Idaho Falls, LLC, filed with the U.S. Bankruptcy Court for the Western District of Washington a Disclosure Statement describing Plan of Reorganization dated September 30, 2025. The Debtor is limited liability company formed under the laws of the state of Oregon. Mark S. Hemstreet has been the proud founder and owner of the Shilo Inn Suites Hotel chain since 1974. The Hotel is collateral for a certain promissory note (the "Loan") originally made in November 2015 and now held by Deutsche Bank Trust Company Americas, as Trustee, on behalf of the registered Holders of Citigroup Commercial Mortgage Trust 2017-P7, Commercial Mortgage Pass-Through Certificates, Series 2017-P7 (the "Lender") and serviced by Rialto Capital Advisors, LLC. The Debtor's primary asset is the Shilo Inn, Idaho Falls LLC Hotel. Based on a draft appraisal report of an MAI certified appraisal in 2016 ordered by the Lender, the Hotel had a fair market value of approximately $9,100,000, and Mark Hemstreet opines that the value is now at least $16,000,000. The Lender's secured claim is approximately $4,954,532.88 (plus Lender's asserted, alleged default interest, property protection advances, late fees, and miscellaneous costs, which the Debtor disputes), rendering an equity cushion of $11,045,467.12, which calculates to an equity cushion percentage of 223%. Class 2 under the Plan is comprised of non-insider allowed general unsecured claims over $1,000. Estimated amount of asserted Class 2 claims is $140,000. Class 2 claim holders will be paid in full with no interest in five equal annual installments commencing on September 1, 2027, and continuing on September 1 of each year 2027 to 2031. Class 3 under the Plan is comprised of non-insider allowed general unsecured claims that are $1,000 or less. Class 3 claim holders will be paid in full with no interest on the Plan Effective Date of September 1, 2026. Class 4 under the Plan is comprised of insider allowed general unsecured claims. Estimated amount of asserted Class 4 claims is $324,000. Class 4 claim holders will be paid in full with no interest in equal quarterly installments over 24 months commencing after Classes 1, 2, and 3 have been paid in full in accordance with the Plan. Class 5 under the Plan is comprised of the equity interest holders of Debtor. The Class 5 equity interests will retain the interests in the Debtor. The Plan will be funded with the Debtor's cash on hand, ongoing business operations, and refinancing when available. A full-text copy of the Disclosure Statement dated September 30, 2025 is available at https://urlcurt.com/u?l=HIpc27 from PacerMonitor.com at no charge. The Debtor's Counsel: Bryan T. Glover, Esq. STOEL RIVES LLP 600 University Street, Suite 3600 Seattle, WA 98101 Tel: (206) 624-0900 Email: bryan.glover@stoel.com About Shilo Inn, Idaho Falls Shilo Inn, Idaho Falls, LLC filed a Chapter 11 petition (Bankr. W.D. Wash. Case No. 20-42489) on November 2, 2020. At the time of filing, Shilo Inn, Idaho Falls disclosed up to $50 million in assets and up to $10 million in liabilities. Judge Brian D. Lynch oversees the case. Levene, Neale, Bender, Yoo & Brill L.L.P. and Stoel Rives LLP serve as counsel to Shilo Inn, Idaho Falls. Shilo Inn, Idaho Falls' case is not jointly administered with those of Shilo Inn, Ocean Shores, LLC, and Shilo Inn, Nampa Suites, LLC, both of which sought Chapter 11 protection (Bankr. W.D. Wash. Lead Case No. 20-42348) on October 15, 2020. Ocean Shores and Nampa Suites' cases are jointly administered. RSS CGCMT 2017P7-ID SIIF, LLC, as secured creditor, is represented by: James B. Zack, Esq. Lane Powell PC 1420 Fifth Avenue, Suite 4200 Seattle, WA 98101 Telephone: (206) 223-7000 Facsimile: (206) 223-7107 ZackJ@lanepowell.com Docketing@LanePowell.com SHPS LLC: 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 SHPS LLC. Ms. Clark will be paid an hourly fee of $525 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Clark declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Katharine Battaia Clark Thompson Coburn, LLP 2100 Ross Avenue, Ste. 3200 Dallas, TX 75201 Office: 972-629-7100 Mobile: 214-557-9180 Fax: 972-629-7171 Email: kclark@thompsoncoburn.com About SHPS LLC SHPS LLC, doing business as Radiologist.com, provides onsite and teleradiology services from its facility in Frisco, Texas, offering expert imaging interpretations, consultations, and radiology management support. The company leverages advanced imaging technology and AI to deliver precise diagnostic insights and partners with healthcare providers to enhance patient care. SHPS serves hospitals, clinics, and other healthcare professionals across its operational network. SHPS filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Texas Case No. 25-43740) on September 30, 2025, with $1 million to $10 million in assets and liabilities. Aldo Ruffolo, president of SHPS, signed the petition. Joseph Acosta, Esq., at Condon Tobin represents the Debtor as legal counsel. SIMBA IL HOLDINGS: Hires Shulman Bastian as Bankruptcy Counsel -------------------------------------------------------------- Simba IL Holdings, LLC seeks approval from the U.S. Bankruptcy Court for the Central District of California to hire Shulman Bastian Friedman Bui & O'Dea LLP as general bankruptcy counsel. The firm will render these services: 1. advise the Debtor with respect to its rights, powers, duties and obligations as a debtor in possession in the administration of the Case, the management of its business affairs and the management of its property; 2. advise and assist the Debtor with respect to compliance with the requirements of the Office of the United States Trustee; 3. advise the Debtor regarding matters of bankruptcy law, including the rights and remedies of the Debtor with respect to its assets and with respect to the claims of creditors; 4. represent the Debtor in any proceedings or hearings in the Bankruptcy Court related to bankruptcy law issues; 5. conduct examinations of witnesses, claimants, or adverse parties and to prepare and assist in the preparation of reports, accounts and pleadings related to the Case; 6. advise the Debtor regarding its legal rights and responsibilities under the Bankruptcy Code and the Federal Rules of Bankruptcy Procedure; 7. assist the Debtor in the negotiation, preparation and confirmation of a plan of reorganization; 8. advise and represent the Debtor in connection with certain litigation related matters with the assistance of special litigation counsel; 9. perform any and all other legal services incident and necessary as the Debtor may require of the Firm in connection with the Case. The firm's hourly rates: Leonard M. Shulman $795 James C. Bastian, Jr. $795 Alan J. Friedman $795 J. Ronald Ignatuk $695 Franklin J. Contreras $695 Ryan O'Dea $695 Shane M. Biornstad $695 Melissa Davis Lowe $645 Rika M. Kido $645 Lynda T. Bui $595 Mimi Lin $595 Bryan Whitmer-Cabrera $525 Max Casal $525 Holly M. Ratzlaff $525 Timothy K. McMahon, Jr. $525 Brooke Thompson $425 Yang Yang $325 Paralegals: Erlanna L. Lohayza $295 Pamela G. Little $295 Lori Gauthier $295 Anne Marie Vernon $195 Tammy Walsworth $195 Allie D'Alessandro $195 Tonia Wooten $185 Of Counsel: Eric D. Dean $695 Joseph M. Galosic $695 Leonard Shulman, Esq., a managing partner at Shulman Bastian Friedman & Bui LLP, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Leonard M. Shulman, Esq. SHULMAN BASTIAN FRIEDMAN & BUI LLP 100 Spectrum Center Drive, Suite 600 Irvine, CA 92618 Tel: (949) 340-3400 Fax: (949) 340-3000 Email: LShulman@shulmanbastian.com About Simba IL Holdings Simba IL Holdings, LLC operates as a nonbank holding company that manages equity interests in subsidiary businesses. Simba IL Holdings filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. C.D. Calif. Case No. 25-12616) on September 16, 2025, with $10 million to $50 million in assets and $100 million to $500 million in liabilities. Mordechai H. Ferder, manager, signed the petition. Judge Mark D. Houle oversees the case. Leonard M. Shulman, Esq., at Shulman Bastian Friedman Bui & O'Dea, LLP represents the Debtor as legal counsel. SINO GREEN: Requires Additional Time to Finalize FY25 Financials ---------------------------------------------------------------- Sino Green Land Corp. filed a Notification of Late Filing on Form 12b-25 with the U.S. Securities and Exchange Commission, informing that it is filing an extension on Form 12b-25 with the Commission to allow for additional time to finalize its annual report on Form 10-K for the year ended June 30, 2025. The Form 10-K could not be filed by September 29, 2025 without unreasonable effort and expenses because the Company requires additional time to finalize its financial statements contained in the Form 10-K. In accordance with Rule 12b-25 of the Securities Exchange Act of 1934, as amended, the Company expects to file its Form 10-K no later than the fifteenth calendar day following the prescribed due date. About Sino Green Land Corp. Sino Green Land Corp. is a US holding company incorporated in Nevada. It conducts business through its Malaysia subsidiary "Tian Li Eco Holdings Sdn. Bhd", which is an environmental protection technology, recycling and renewal of plastic waste bottles and packaging materials being recycled and sale of recovered and recycled products, a company incorporated and based in Malaysia. With the mission too rooted in advocating for waste recycling, aiming for a sustainable environmental future. With its strategic initiatives, the company's objective is to become a prominent environmental recycling entity in Asia over the coming five years. For the six months ended December 31, 2024, the Company had an accumulated deficit of $3,583,534, incurred a net loss of $691,975 and cash used in operating activities of $202,685. These factors raise substantial doubt about the Company's ability to continue as a going concern within one year after the date the condensed consolidated financial statements are issued. In addition, the Company's independent registered public accounting firm, in their report on the Company's June 30, 2024, audited condensed consolidated financial statements, raised substantial doubt about the Company's ability to continue as a going concern. SOLIGENIX INC: Closes $7.5M Public Offering of Stock and Warrants ----------------------------------------------------------------- Soligenix, Inc. disclosed in a Form 8-K Report filed with the U.S. Securities and Exchange Commission that it entered into a Securities Purchase Agreement with certain investors, pursuant to which the Company agreed to issue and sell to the Investors in a public offering: (i) 4,064,080 shares of the Company's common stock, (ii) pre-funded warrants to purchase 1,491,480 shares of the Company's common stock and (iii) common warrants to purchase 5,555,560 shares of the Company's common stock. The shares of common stock, or pre-funded warrants in lieu thereof, and the common warrants, were sold in units, with each unit consisting of one share of common stock or one pre-funded warrant in lieu thereof and one common warrant. Each unit comprised of common stock and common warrants was sold at a per unit price of $1.35. Each unit comprised of pre-funded warrants and common warrants was sold at a per unit price of $1.349, which represents the same per unit price less the $0.001 per share exercise price of the pre-funded warrants. The common warrants are exercisable at a price of $1.35 per share and have a five-year term. The Securities Purchase Agreement contains customary conditions to closing, representations and warranties of the Company, and termination rights of the parties, as well as certain indemnification obligations of the Company and ongoing covenants of the Company. Pursuant to the Securities Purchase Agreement, the Company has also agreed not to offer, issue, sell, contract to sell, or grant any option for the sale of or otherwise dispose of the Company's securities for a period of 60 days following the closing of the Offering. The Company has further agreed not to enter into any variable rate transaction for a period of one year following the closing of the Offering; provided, however, that this restriction does not apply with respect to an at-the-market offering from the 60th day following the closing date of the Offering. The Company also agreed that certain existing May 2023, April 2024 and July 2024 warrants to purchase an aggregate of 1,162,064 shares of common stock will be amended such that the Existing Warrants will have a reduced exercise price of $1.35 per share and shall expire commensurate with the warrants sold in the Offering. The Offering closed on September 29, 2025. The aggregate gross proceeds from the Offering are approximately $7.5 million before deducting placement agent fees and other offering expenses payable by the Company. This funding extends the Company's cash runway through the end of 2026, providing sufficient funds for anticipated key inflection points. The Company currently intends to use the net proceeds from the Offering to fund research, development and commercialization activities, and for general corporate and working capital purposes, which may include, among other things, working capital, product development and/or commercialization, acquisitions, capital expenditures, repayment of debt and other business opportunities. A.G.P./Alliance Global Partners acted as the sole placement agent on a "reasonable best efforts" basis in connection with the Offering pursuant to a Placement Agency Agreement, dated September 25, 2025, by and between the Company and the Placement Agent. Pursuant to the Placement Agency Agreement, the Company paid the Placement Agent a cash fee of six and one-half percent (6.5%) of the gross proceeds of the Offering. The Company also paid expenses of accountable legal fees and other reasonable and documented out-of-pocket expenses incurred by the Placement Agent in connection with the Offering in the amount of $75,000, and non-accountable expenses equal to $15,000. The shares of common stock, the pre-funded warrants, and the common warrants and the shares of common stock underlying the warrants and pre-funded warrants were offered and sold pursuant to the Company's Registration Statement on Form S-1 (Registration No. 333-290413), which was initially filed on September 19, 2025, and declared effective on September 25, 2025 by the Securities and Exchange Commission. About Soligenix Soligenix, Inc., headquartered in Princeton, New Jersey, is a late-stage biopharmaceutical company developing and commercializing treatments for rare diseases. The Company operates two segments: Specialized BioTherapeutics, advancing HyBryte (synthetic hypericin sodium) for cutaneous T-cell lymphoma through photodynamic therapy, and Public Health Solutions, which develops vaccines and therapeutics for infectious diseases, including ricin toxin, filoviruses, and COVID-19. The Company is conducting a second Phase 3 study, FLASH2, with top-line results expected in the second half of 2026, after which it plans to pursue potential global regulatory approvals. In its March 21, 2025 audit report, Cherry Bekaert LLP issued a "going concern" qualification, noting that the Company's recurring losses and negative operational cash flows raise substantial doubt about its ability to continue as a going concern. Soligenix reported a net loss applicable to common stockholders of $8.27 million in 2024 following a net loss applicable to common stockholders of $6.14 million in 2023. Management believes that the Company has sufficient resources to support development activities, business operations, and meet its obligations through the first quarter of 2026. However, as of Aug. 14, 2025, the Company does not have sufficient cash and cash equivalents to fund operations for at least 12 months following the issuance of its Quarterly Report on Form 10-Q for the period ended June 30, 2025. SOURCE MORTGAGE: Seeks to Hire Payne Law Firm as Legal Counsel -------------------------------------------------------------- Source Mortgage & Funding, Inc. seeks approval from the U.S. Bankruptcy Court for the Western District of Tennessee to hire Payne Law Firm as counsel. The firm will render these services: a. advise and consult with the Debtor-in-Possession regarding questions arising from certain contract negotiations which will occur during the operation of business by the Debtor-in-Possession; 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 to 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 to 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 Debtor in connection with any reorganization plan which may be proposed in this proceeding and any matters concerning Debtor 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 Debtor as they become necessary in this proceeding. The firm will be paid at these rates: Jerome C. Payne $400 per hour Associates $200 per hour Paralegals $175 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Jerome Payne, Esq., a partner at Payne Law 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: Jerome C. Payne, Esq. Payne Law Firm 3525 Ridge Meadow Parkway, Suite 100 Memphis, TN 38115 Tel: (901) 794-0884 Fax: (901) 235-1246 Email: jerpaynelaw@gmail.com About Source Mortgage & Funding, Inc Source Mortgage & Funding, Inc. sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Tenn. Case No. 25-23647) on July 23, 2025, listing up to $50,000 in both assets and liabilities. Judge M Ruthie Hagan presides over the case. Jerome C. Payne, Esq. at Payne Law Firm represents the Debtor as counsel. SSR HOSPITALITY: Creditors to Get Proceeds From Liquidation ----------------------------------------------------------- SSR Hospitality, LLC, filed with the U.S. Bankruptcy Court for the Northern District of Illinois a Disclosure Statement in conjunction with its Plan of Liquidation dated September 30, 2025. This bankruptcy was caused by the Debtor being unable to pay its debts as a result of the changes in the travel industry since the pandemic. The Debtor owns real estate commonly known as 3600 East Cork Street, Kalamazoo, Michigan 49001, which operates as a Four Points Sheraton Brand Hotel Upon the employment of Thomas Sommers of HREC Investment Advisors, the Debtor will list the property located at 3600 East Cork Street, Kalamazoo, Michigan 49001. The projected sale price for the Debtor's property is $5,000,000. Due to the current commercial real estate market and going interest rates, it is believed that the property shall be under contract in six to nine months. The Debtor's income is not sufficient to reorganize and therefore it is in the best interest of creditors to liquidate the Debtor's asset located at 3600 East Cork Street, Kalamazoo, Michigan 49001 which operates as a Four Points Sheraton Brand Hotel. The Debtor estimates the fair market value to be $5,000,000. The Plan establishes three secured classes of claims, and an unsecured class of claims. The Bankruptcy Court must independently conclude that the Plan's classification scheme is authorized, but any creditor who believes that the Plan has improperly classified any group of Claims or Interest may object to confirmation of the Plan. The Debtor believes that the Plan's classification of Claims fully complies with the requirements of the Bankruptcy Code and applicable case law. The Debtor's Plan of Liquidation provides that upon the sale of Debtor's primary asset, the Debtor will make payments to secured, administrative and priority claims as funds allow and any additional proceeds of funds shall be distributed to general unsecured creditors pro-rata. Class 4 consists of Allowed General Unsecured Claims. The Debtor has attached a detailed list of creditors that lists the allowed general unsecured creditors totaling a balance of $1,008,960.88. Distributions to General Unsecured Creditors shall be paid from proceeds of sale of the Debtor's assets after the payment to Secured Creditors and Priority Creditors pro rata. The Debtor will fund this this plan through the liquidation of its assets. A full-text copy of the Disclosure Statement dated September 30, 2025 is available at https://urlcurt.com/u?l=w4R2OW from PacerMonitor.com at no charge. SSR Hospitality, LLC is represented by: Paul M. Bach, Esq. Penelope N. Bach, Esq. Bach Law Offices, Inc. P.O. BOX 1285 Northbrook, IL 60062 Telephone: (847) 564 0808 About SSR Hospitality SSR Hospitality, LLC is a hospitality management company in Skokie, Ill., specializing in owning, operating, and managing hotels and related properties. SSR Hospitality filed Chapter 11 petition (Bankr. N.D. Ill. Case No. 25-02208) on Feb. 13, 2025, listing between $1 million and $10 million in both assets and liabilities. Judge Deborah L. Thorne handles the case. Penelope Bach, Esq., at Bach Law Offices, is the Debtor's bankruptcy counsel. STANTON VIEW: Gets Final OK to Use Cash Collateral -------------------------------------------------- Stanton View, LLC received final approval from the U.S. Bankruptcy Court for the Northern District of Georgia, Atlanta Division, to use cash collateral to fund operations. The final order authorized the Debtor to use cash collateral for ordinary and necessary operations of its property in accordance with an approved budget, subject to a 10% variance per line item. All cash collateral must be deposited into a designated debtor-in-possession account, and pre-bankruptcy claims cannot be paid. White Oak Assets, LLC, the Debtor's lender, will be provided with adequate protection in the form of replacement liens on the Debtor's property, with the same validity, priority and extent as the lender's pre-bankruptcy liens. The replacement liens do not apply to any avoidance claims. Events of default under the final order include failure by the Debtor to maintain required insurance; unauthorized payment of cash collateral to an insider; appointment of a Chapter 11 trustee; conversion of the Debtor's case to one under Chapter 7; and non-compliance with the interim order. The Debtor's cash collateral consists of post-petition rental income from its sole asset: an 88-unit apartment complex located at 2040 Stanton Road, East Point, Georgia. White Oak Assets holds a secured interest in the property's rental income while Glass Doctor may have a potential interest based on its lien although the Debtor disputes that any creditor other than the lender is entitled to cash collateral proceeds at this stage. The Debtor borrowed $7.1 million from White Oak Assets to purchase the property through a promissory note and Deed to Secure Debt, which matured on August 5. The Debtor was actively pursuing a refinance to satisfy the loan, however, the refinancing was delayed and the lender scheduled a foreclosure sale for September 2, the same day the Debtor filed for bankruptcy to protect what it claims is substantial equity in the property. As of the petition date, the total loan owed was $6,229,505.23 (principal, interest, and fees). Lender is entitled to stay relief if not repaid by January 5, 2026, and may advertise a foreclosure sale for January 6, 2026. Interest continues to accrue at the non-default rate until repayment, and legal fees are capped at $50,000. Lender has agreed to forbear from claims against guarantors until January 6, 2026. The order permits Lender to record this order in the property records to preserve rights against subsequent filings. About Stanton View LLC Stanton View, LLC owns and operates an apartment complex located at 2040 Stanton Road in East Point, Georgia, which has an appraised value of $11 million. The company is classified as a single-asset real estate entity under U.S. law, focusing on the management of this property. Stanton View sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-60053) on September 2, 2025. In its petition, the Debtor reported total assets of $11,137,378 and total liabilities of $6,170,665. Honorable Bankruptcy Judge Sage M. Sigler handles the case. The Debtor is represented by Michael D Robl, Esq., at Robl & Bowen, LLC. SYNECHRON HOLDINGS: $200MM Loan Add-on No Impact on Moody's B1 CFR ------------------------------------------------------------------ Moody's Ratings said the proposed $200 million term loan add-on to the existing $500 million first-lien senior secured term loan ($700 million including the add-on) is credit negative, but has no impact to Synechron Holdings, Inc.'s ratings, including the B1 corporate family rating, B1-PD probability of default rating, B1 first-lien senior secured rating, and stable outlook. Proceeds from the add-on will be used to pay down the revolver ($172 million), which was recently tapped to fund acquisitions, with the balance going to the balance sheet and pay related expenses. Recent tuck-in acquisitions have enhanced Synechron's ServiceNow practice for the financial services/banking industry, becoming one of the largest providers. Although these acquisitions improve Synechron's position in a growing market, the debt add-on is viewed as credit negative as it negatively impacts credit metrics. Pro forma LTM Moody's adjusted debt/EBITDA is above 4.5x, which is higher the 4x downgrade factor for its B1 rating. However, Moody's expects the company will be able to de-lever with strong earnings growth and Moody's expects leverage will decline to below 4x by the end of FY27 (March 2027). Moody's also expects meaningful margin and free cash flow improvement over the next 12 to 18 months. Additionally, Moody's expects the company will not incur additional borrowing until it delivers on its de-leveraging plan and expect the company to adhere to its long-term net target leverage between 2.5x to 3.5x (per the company's definition). RATINGS RATIONALE Synechron's B1 CFR is supported by its expertise and established client relationships within the financial services (banking, insurance, and payments) industry, which support its strong niche position. The long-tenured nature of its customer relationships and their growing need for new IT capabilities help mitigate high customer concentration. Favorable long-term industry fundamentals for digital transformation initiatives will drive solid demand, supporting Moody's expectations for revenue growth over the next 12 to 18 months. However, the credit profile is constrained by its modest scale (pro forma LTM revenue of $1.1 billion) compared to larger multi-billion dollar firms and established niche competitors in the IT services and consulting industry. The credit profile also reflects its moderately high leverage with PF Moody's adjusted debt/EBITDA above 4.5x or the LTM period ended June 30, 2025. Moody's expects leverage will decline to below 4x over the next 12 to 18 months with strong earnings growth. Synechron has high industry concentration as more than 90% of its revenue is generated from financial services clients. Additionally, its top 10 customers account for roughly 50% of total revenue, while the top 20 account for almost 70% of revenue. Furthermore, the credit profile is constrained by exposure to the cyclical nature of IT spending during economic uncertainty or downturns. Moody's expects Synechron to maintain good liquidity over the next year, supported by roughly $66 million cash at the close of the transaction as well as its $275 million revolver expiring 2029 (undrawn at close). Moody's expects the company to generate free cash flow of over $40 million over the next year. As such, Moody's expects Synechron will be able to fund its internal cash needs as well as the mandatory $7 million required amortization for its term loan. The revolver has a 4.5x springing covenant (total net leverage test), tested only when 35% of the facility has been drawn. Moody's do not expect the covenant will be tested over the next year. However, if tested, Moody's expects the company will maintain an ample cushion against the covenant test. The term loan does not have any financial covenants. The stable outlook reflects Moody's expectations that leverage will decline to below 4.0x by the end of FY27 (March 2027) with strong earnings growth. Moody's also expects the company to maintain good liquidity and generate mid single-digit free cash flow/debt. Additionally, the stable outlook reflects Moody's expectations that the company will maintain moderate financial policy with no additional debt until debt/EBITDA leverage is below 4x. The outlook could be changed to negative or the ratings downgraded if Moody's expects financial policies will become more aggressive or revenue growth, including incremental debt issuances in the near term, or if margin improvement or cash flow generation are weaker than expected. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded if Synechron sustains revenue and earnings growth while increasing its diversification into other industry verticals. An upgrade would also require Synechron to maintain moderate financial policies. Quantitatively, the ratings could be upgraded if debt/EBITDA is sustained below 3x and free cash flow/debt remains above the mid single-digit percentage range. The ratings could be downgraded if revenue growth, profitability improvement and free cash flow generation are weaker than anticipated, or if financial strategies become more aggressive. Quantitatively, the rating could be downgraded if financial leverage remains above 4.0x or free cash flow/debt remains in the low single-digit percentage range. Synechron Holdings, Inc. is a digital engineering and information technology services provider with operations in 20 countries. The company primarily serves customers across the Financial Services (banking, insurance, and payments) industry. Synechron is majority owned and controlled by its founder. Pro forma for recent acquisitions, revenue is approximately $1.1 billion for the LTM period ended June 30, 2025. TALEN ENERGY: S&P Affirms 'BB' Rating on Senior Secured Debt ------------------------------------------------------------ S&P Global Ratings affirmed its 'BB' issue-level rating on Talen Energy Supply LLC's senior secured debt following the company's announcement that it will raise incremental debt to fund its proposed acquisition of assets from Caithness Energy LLC. The '2' recovery rating is unchanged, indicating its expectation for substantial (70%-90%; rounded estimate: 85%) recovery. S&P said, "At the same time, we assigned our 'B' issue-level rating and '6' recovery rating to Talen's new $2.69 billion senior unsecured notes. The '6' recovery rating indicates our expectation for negligible (0%-10%; rounded estimate: 0%) recovery for the bond lenders." In preparation for the close of its acquisition of the Moxie Freedom Energy Center and Guernsey Power Station from Caithness Energy, the company will raise a new $1.2 billion term loan B (TLB; pari passu with its existing TLB) due December 2032 and $2.69 billion of senior unsecured notes with 8.25- and 10.25-year maturities. Talen also plans to upsize its existing revolver and letter of credit facility by $200 million, respectively. S&P said, "We expect the company will only use the proceeds from the facilities to fund its announced acquisition. In the unlikely event the transaction fails to close, we expect Talen will terminate the facilities and return any drawn amounts. Despite the fully debt-funded nature of the acquisition, we forecast the company's S&P Global Ratings-adjusted debt to EBITDA and FOCF to debt will be about 4x and 13%, respectively, in 2026 and 2027. We believe Talen remains committed to maintaining leverage in the 3.5x area (per the company's calculation) and will prioritize debt reduction over shareholder returns, despite having about $2 billion of remaining capacity under its existing share repurchase authorization following the September 2025 upsizing. "Our 'BB-' issuer credit rating reflects the company's asset level concentration (albeit improving), the merchant nature of its operations, it exposure to volatile market forces, and its relatively smaller size compared with its larger independent power producer (IPP) peers, which are partially offset by the favorable industry tailwinds stemming from rapidly rising load projections, its fleet's positioning in the PJM region, and its strong free operating cash flow generation. "We revised our recovery valuations on some of Talen's thermal assets to reflect the secular tailwinds and supply/demand imbalance in the PJM. We now anticipate higher asset valuations and extended asset lives due to a confluence of factors, including longer build times on new combined-cycle gas turbines, tighter supply chains, and rising labor costs." ISSUE RATINGS--RECOVERY ANALYSIS Key analytical factors -- Talen's capital structure comprises both senior secured and senior unsecured debt. -- The company's senior secured debt includes a $900 million revolver due December 2029 (pro forma for the transaction), a $1.1 billion letter of credit facility due December 2027 (pro forma for the transaction), an $857 million TLB due May 2030 ($853 million outstanding as of June 30, 2025), $1.2 billion of notes due June 2030, an $850 million TLB-1 due December 2031 ($846 million outstanding as of June 30, 2025), and a $1.2 billion TLB-2 due 2032 (pro forma for the transaction; maturity date is subject to close of acquisition given delayed draw feature). -- Talen's senior unsecured debt includes its new $2.69 billion notes (with 8.25- and 10.25-year maturities) and $131 million of Pennsylvania Economic Development Financing Authority (PEDFA) bonds. -- S&P rates the company's senior secured debt (revolver, TLB, and notes) 'BB', one notch above the ICR, with a '2' recovery rating. -- S&P rates the company's senior unsecured debt and unsecured PEDFA bonds 'B', two notches below the ICR, with a '6' recovery rating. S&P said, "Our simulated default scenario assumes a default occurring in 2029 due to low natural gas prices and weaker market heat rate assumptions stemming from lower-than-expected demand growth. We also assume aggressive renewable penetration due to technological advancements and government support, which leads to an irreversible and systemic decrease in power prices over the remaining life of Talen's assets." Finally, prolonged and unforeseen operational outages at its main facility, Susquehanna, would materially impair the company's earnings and cash flow generation. S&P assumes the letter of credit facility and revolver are 85% drawn at default. S&P said, "We calculate Talen's distressed enterprise valuation using a price per kilowatt (kW) multiple. "We value the company's nuclear asset, Susquehanna, at $1,275/kW. For the gas-fired fleet, we assume a valuation of $125/kW-$600/kW depending on efficiency and age. "We do not ascribe any value to Talen's coal-based fleet, largely due to the uncertainty around its economic viability at the time of default." Simulated default assumptions -- Simulated year of default: 2029 Simplified waterfall -- Gross enterprise value: $5.5 billion -- Net enterprise value: $5.2 billion -- Senior secured debt outstanding at default: $5.9 billion. --Recovery expectations: 70%-90% (rounded estimate: 85%) -- Total unsecured claims (senior unsecured notes and PEDFA bonds): $3.5 billion --Recovery expectations: 0%-10% (rounded estimate: 0%) Note: All debt includes six months of prepetition interest. THERATECHNOLOGIES INC: Summer Road Holds 5.84% Equity Stake ----------------------------------------------------------- Summer Road LLC, disclosed in a Schedule 13G filed with the U.S. Securities and Exchange Commission that as of September 22, 2025, it beneficially owns 2,683,591 Common Shares of Theratechnologies Inc., representing 5.84% of the outstanding shares. The shares are beneficially owned by Summer Road LLC through investment management agreements with Family Clients, including Cap 1 LLC and East River Partners Ltd., and the Reporting Person exercises sole voting and dispositive power over these shares. Summer Road may be reached through: Frank S. Vellucci, General Counsel Summer Road LLC 207 6th Street West Palm Beach, Fla. 33401 A full-text copy of Summer Road LLC's SEC report is available at: https://tinyurl.com/2ybb3377 About Theratechnologies Inc. Theratechnologies Inc., headquartered in Quebec, Canada, is a specialty biopharmaceutical company that develops and commercializes therapies for people living with HIV, including EGRIFTA SV and Trogarzo in the United States, and focuses on expanding its product portfolio and revenue in North America. In its audit report dated Feb. 25, 2025, KPMG LLP issued a "going concern" qualification citing that the Company has incurred net losses and has an accumulated deficit and its debt agreements require debt covenants to be tested on a quarterly basis. The full resumption of distribution of EGRIFTA SV is dependent on FDA approval, which approval is outside of the control of the Company. The auditor noted there is material uncertainty related to events or conditions that cast substantial doubt about the Company's ability to continue as a going concern. As of May 31, 2025, the Company had $51.27 million in total assets, $79.19 million in total liabilities, and a total deficit of $27.92 million. THOMPSON'S PHARMACY: Gets OK to Use Cash Collateral Until Dec. 31 ----------------------------------------------------------------- Thompson's Pharmacy, Inc. received final approval from the U.S. Bankruptcy Court for the Northern District of Georgia, Newnan Division, to use cash collateral. The final order authorized Thompson's Pharmacy to use cash collateral through December 31 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 secured creditors as adequate protection; and for other matters pursuant to orders entered by the court. It confirms that Thompson's Pharmacy may operate as a debtor-in-possession while using cash collateral to continue business operations. Secured creditors, McKesson Corporation and White Oak Pharmacy, Inc., hold first-priority liens on the Debtor's assets, inventory, and proceeds. As adequate protection, McKesson and White Oak will be granted post-petition security interests in accounts, inventory, and generated cash collateral to protect against diminution in value of their pre-bankruptcy collateral (excluding Chapter 5 claims). In addition, the Debtor will make monthly payments of $944 to McKesson. A copy of the final order is available at https://is.gd/Gv0BNf from PacerMonitor. 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 THREEPIECEUS LLC: Ruediger Mueller Named Subchapter V Trustee ------------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Ruediger Mueller of TCMI, Inc. as Subchapter V trustee for Threepieceus, LLC. Mr. Mueller will be paid an hourly fee of $350 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Mueller declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Ruediger Mueller TCMI, Inc. 1112 Watson Court Reunion, FL 34747 Telephone: (678) 863-0473 Facsimile: (407) 540-9306 Email: truste@tcmius.com About Threepieceus LLC Threepieceus, LLC is a Florida-based company that designs and sells custom wheels and automotive accessories, operating an online store at its Largo headquarters. It offers a range of products including rims, wheel and tire packages, and accessories from brands such as Work, CCW, SSR, and Fuel Forged. Threepieceus filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-07261) on October 1, 2025, with $270,753 in assets and $1,395,402 in liabilities. Jake Owens, manager, signed the petition. Buddy D. Ford, Esq. at FORD & SEMACH, P.A. represents the Debtor as legal counsel. TOTAL COLLECTION: Section 341(a) Meeting of Creditors on November 6 ------------------------------------------------------------------- On October 3, 2025, Total Collection Services Inc. filed Chapter 11 protection in the Eastern District of New York. According to court filing, the Debtor reports $5,842,117 in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. A meeting of creditors under Section 341(a) to be held on November 6, 2025 at 02:00 PM at USA Toll-Free (888) 330-1716, USA Caller Paid/International Toll (713) 353-7024, Access Code 3913464. About Total Collection Services Inc. Total Collection Services Inc., based in Port Jefferson Station, New York, provides commercial garbage collection and recycling services in Suffolk County and operates as a sanitation company. Total Collection Services Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-73838) on October 3, 2025. In its petition, the Debtor reports total assets of $3,018,785 and total liabilities of $5,842,117. Honorable Bankruptcy Judge Sheryl P. Giugliano handles the case. The Debtor is represented by Health S. Berger, Esq. of BFSNG LAW GROUP, LLP. TZADIK SIOUX: Seeks to Tap Newpoint Advisors as Financial Advisor ----------------------------------------------------------------- Tzadik Sioux Falls Portfolio I, LLC and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Newpoint Advisors Corporation as financial advisor. The firm's services include: (a) prepare Chapter 11 monthly operating reports and amend previously filed monthly operating reports, if needed; (b) assist with the preparation of cash collateral budgets; (c) prepare projections in connection with the preparation of a confirmable Chapter 11 plan of reorganization; (d) attend hearings as necessary; (e) consult with the Debtors and their counsel regarding their accounting; and (f) provide any other professional services as requested by the Debtors or the Court in connection with their finances. The firm will be paid at these hourly rates: Carin Sorvik, CPA, CIRA $405 Others $295 - $375 In addition, the firm will seek reimbursement for expenses incurred. The firm will receive an advance fee retainer of $1,250 per Debtor. Ms. Sorvik 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: Carin Sorvik, CPA Newpoint Advisors Corporation 896 N. Federal Hwy., #327 Lantana, FL 33462 About Tzadik Sioux Falls Portfolio I Tzadik Sioux Falls Portfolio I, LLC possesses several multi-family properties in Sioux Falls, SD. Tzadik Sioux Falls Portfolio I, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-13865) on April 9, 2025. In the petition signed by Adam Hendry, authorized representative, the Debtor disclosed $65 million in assets and $46.775 million in liabilities. Judge Peter D. Russin oversees the case. The Debtor tapped Morgan Edelboim, Esq., at Edelboim Lieberman, PLLC as counsel and Newpoint Advisors Corporation as financial advisor. VALMAR CORP: Unsecured Creditors to Split $30K over 5 Years ----------------------------------------------------------- Valmar Corp. filed with the U.S. Bankruptcy Court for the District of Puerto Rico a Plan of Reorganization dated September 29, 2025. The Debtor is a closely held or family corporation pursuant to the laws of the Commonwealth of Puerto Rico with its principal place of business located at Rd. 102 Km. 9.6, BO Guanajibo, Cabo, Rojo, PR, 00623. Since its inception, the Debtor has operated a restaurant in what is known as "Joyuda" in Cabo Rojo. PR. It serves seafood, meats. liquor and specializes in desserts since it has a separate kitchen for desserts or pastry chef. The Plan of Reorganization proposes to pay creditors of the Debtor from the disposable income generated from the Debtor's operation of the restaurant in Cabo Rojo, Puerto Rico. The Plan provides for the payment: (i) the full amount of the owed to the unsecured priority claims; (ii) there are no secured claims; (iii) a payout of $30,000.00 to the general unsecured claims filed or scheduled and allowed; (iv) the class composed of the equity security holders shall retain their equity position in the reorganized debtor but shall not receive dividends or distribution under the Plan. Class 3 consists of General Unsecured Claims. General unsecured creditors are impaired. The Debtor shall satisfy the Class 3 Claims by a payment in cash of a dividend of $30,000.00, which is equivalent of 5.2% of the amount allowed in a given claim or as scheduled during a five-year commitment period payable in periodic quarterly installments from the effective date of the Plan. The allowed unsecured claims total $1,637,298.09. Class 4 consists of Equity Security Holder. Mr. Jose A Santiago Valcarcel is the holder of all the common stock issued by the Debtor, and as such he is an insider. Mr. Jose A Santiago Valcarcel shall retain his equity position in the reorganized Debtor as it existed prior to the filing of the bankruptcy petition but shall not receive any dividend or distribution under the Plan as an equity security holder. Payments and distribution under the Plan will be funded by the proceeds generated by the operating business of the Reorganized Debtor. A full-text copy of the Plan of Reorganization dated September 29, 2025 is available at https://urlcurt.com/u?l=DKj3ka from PacerMonitor.com at no charge. Counsel to the Debtor: Homel Antonio Mercado Justiniano, Esq. Calle Ramirez Silva, Esq. Ensanche Martinez, Esq. Mayaguez, PR 00680-4714 Tel: (787) 831-2577 Fax: (787) 805-7350 Email: hmjlaw2@gmail.com About Valmar Corp. VALMAR Corp. is a food service business operating in Cabo Rojo, Puerto Rico. VALMAR Corp. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.P.R. Case No. 25-03044) on July 2, 2025. In its petition, the Debtor reports estimated assets up to $50,000 and estimated liabilities between $500,000 and $1 million. The Debtors are represented by Homel Mercado Justiniano. VAN'S EQUIPMENT: Gets Final OK to Use Cash Collateral ----------------------------------------------------- The U.S. Bankruptcy Court for the Western District of Washington entered a final order authorizing Van's Equipment Co. to use cash collateral. The court authorized the Debtor to use cash collateral to pay post-petition operating expenses as outlined in its budget, subject to a 15% variance per line item. The Debtor projects total operational expenses of $186,314.98 for the period from October to November and $178,124.98 for the period from December to March 2026. As adequate protection, KeyBank National Association and the U.S. Small Business Administration will be granted replacement liens on the Debtor's post-petition cash, receivables, inventory and proceeds, to the same extent and priority as their pre-bankruptcy liens. As further protection, the court authorized the Debtor to pay KeyBank $5,000 for one month, then $8,190 monthly thereafter. The Debtor is required to continue these payments until its Chapter 11 plan is confirmed. KeyBank reserves its right to seek a super-priority administrative expense claim under Section 507(b). The Debtor's authority to use cash collateral expires on the earliest of December 31, 2025; conversion or dismissal of its Chapter 11 case; appointment of a trustee or examiner; confirmation of a Chapter 11 plan; or entry of an order staying, modifying, or reversing the final order. As of the petition date, the Debtor held $213,912 in cash collateral and had total collateral, including tools, equipment, and office furniture, valued at over $5.87 million. The outstanding secured debt exceeds $6.2 million across three security filings. About Van's Equipment Co. Van's Equipment Co. sells and rents new and used heavy equipment, specializing in dirt equipment such as excavators, loaders, and dozers. Based in Burlington, Washington, Van's Equipment serves contractors and homeowners and operates as an authorized dealer for Yanmar, Canycom, Okada, and Felling Trailers. Its services include equipment sales, rentals, maintenance, and customization. Van's Equipment sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wash. Case No. 25-11750) on June 26, 2025. In its petition, the Debtor reported up to $50,000 in assets and between $1 million and $10 million in liabilities. Judge Christopher M. Alston handles the case. The Debtor is represented by Thomas D. Neeleman, Esq., at Neeleman Law Group, P.C. VERDE RESOURCES: Delays FY25 10-K Filing ---------------------------------------- Verde Resources, Inc. filed a Notification of Late Filing on Form 12b-25 with the U.S. Securities and Exchange Commission, informing that it was unable to file its Annual Report on Form 10-K for the year ended June 30, 2025 by September 29, 2025. The Company cannot file its Form 10-K within the prescribed period without undue hardship and expense, because the compilation, dissemination and review of the information required to be properly presented in the Form 10-K, as a result of the review of certain transactions occurring at or around the due date for the filing of the Form 10-K, requires additional time for the Company to complete the compilation of its financial statements and related disclosures for the Form 10-K. The Company expects to file the Form 10-K within the proscribed extension period. About Verde Resources Headquartered in St. Louis, Mo., Verde Resources, Inc. specializes in Net Zero road construction and building materials, driving innovations that enhance sustainability and advance environmental stewardship. Since 2021, the Company's BioFraction facility in Borneo has been converting palm waste into biochar and other sustainable byproducts. Kuala Lumpur, Malaysia-based J&S Associate PLT, the Company's auditor since 2022, issued a "going concern" qualification in its report dated Oct. 16, 2024, citing that the company has incurred recurring losses and accumulated a deficit of $13,480,204 as of June 30, 2024. These matters raise substantial doubt about the Company's ability to continue as a going concern. The Company recorded a net loss of $3,187,774 and $3,998,960 for the years ended June 30, 2024, and 2023, respectively. As of Dec. 31, 2024, Verde Resources had $39.75 million in total assets, $1.79 million in total liabilities, and $37.96 million in total stockholders' equity. VF CORP: S&P Affirms 'BB' Issuer Credit Rating, Outlook Stable -------------------------------------------------------------- S&P Global Ratings affirmed its 'BB' issuer credit rating on U.S.-based VF Corp. and the 'B' short-term and commercial paper ratings. S&P said, "We also affirmed our 'BB' issue-level ratings on the company's unsecured notes and maintained the recovery rating at '3', which indicates our expectation for meaningful (50%-70%; rounded estimate: 60%) recovery in the event of a default. "The stable outlook reflects our expectation for S&P Global Ratings-adjusted debt leverage to below 4x by the end of fiscal 2026." U.S.-based VF Corp. continues to sell assets (most recently Dickie's) and reduce debt with proceeds. S&P Global Ratings-adjusted leverage fell to 4.3x as of the end of fiscal 2025 from 5.1x in 2024, with more de-leveraging expected in the coming year. The company continues to experience a top-line decline in Vans and is focusing on its turnaround. VF continues to prioritize debt reduction and improving the business across key brands. The company reduced long-term debt in the latest 12 months ended June 28, 2025, to just under $4 billion. It used asset sale proceeds, including from Supreme, along with free cash flow generation, to repay more than $2 billion in debt in the past year. This included a $1 billion delayed draw term loan due December 2024, $750 million of April 2025 notes, and $450 million of commercial paper borrowings. The company deleveraged to 4.3x in its fiscal year ended March 29, 2025, versus the 4.8x we previously forecasted. This is because its S&P Global Ratings-adjusted EBITDA came in $113 million higher as the company recognized cost savings faster than S&P expected, while sales and debt came in roughly as forecasted. S&P said, "We note earlier in September, VF announced it entered into a definitive agreement for Bluestar Alliance LLC to acquire the Dickies brand for $600 million in cash. The deal is expected to close by the end of the 2025 calendar year. We expect it will use the net proceeds to repay its 4.125% notes due March 2026 ($539.6 million outstanding as of June 2025). "Factoring in both the lost profits (we estimate about $35 million in operating profit at Dickies this past year) and debt reduction from this asset sale transaction, we forecast S&P Global Ratings-adjusted leverage will improve to the mid-3x area by the end of fiscal 2026. As a result, we believe the company is executing on its plan to get to its defined 2.5x leverage target by the end of fiscal 2028. "We forecast revenues will continue to decline modestly in fiscal 2026. In the first quarter of fiscal 2026 (ending March 2026), revenues remained flat after a decline of 10% in fiscal 2025. This decline was led by Vans, which saw a 14% revenue decrease in the first quarter, and offset by gains in The North Face and Timberland brands. The North Face reported revenue growth of 6% in the latest quarter, with strong performance across channels and the Europe and Asia Pacific regions, which more than offset the declines in Americas. Timberland also posted 11% revenue growth in the latest quarter driven by its marketing strategy. This included strength in the six-inch premium boot and the boat shoe. We expect continued growth in North Face and Timberland sales in the coming year." VF's "Reinvent" restructuring program helped stabilize profitability. In October 2023, the company introduced "Reinvent," a transformation program to enhance focus on brand-building and improving operating performance. Key priorities under the program have been to optimize cost structure and reduce debt. The company incurred just over $200 million in cumulative Reinvent restructuring charges in fiscal 2024 and 2025. Substantially all restructuring actions were completed by the end of the first quarter of fiscal 2026. S&P said, "We believe margin benefits from this program will be modestly offset in the coming year by tariff impacts. We expect tariffs to hinder gross profit by $60 million-$70 million in fiscal 2026 after considering mitigation efforts." VF has implemented actions such as sourcing savings and pricing actions for mitigation, which are expected to take effect later in the year. Management forecasts that all currently anticipated tariff impacts will be fully mitigated by fiscal 2027. S&P Global Ratings believes there is a high degree of unpredictability around policy implementation by the U.S. administration and possible responses--specifically with regard to tariffs--and the potential effect on economies, supply chains, and credit conditions around the world. S&P said, "As a result, our baseline forecasts carry a significant amount of uncertainty, magnified by ongoing regional geopolitical conflicts. As situations evolve, we will gauge the macro and credit materiality of potential shifts and reassess our guidance accordingly." S&P said, "We forecast EBITDA margins of 12.5% in fiscal 2026, a 50 basis point (bps) improvement compared with fiscal 2025. This is due to the realization of cost savings from the Reinvent program, the divestiture of the lower-margin Dickies brand, and modest price increases to offset additional tariff-related costs. It's also due to lower discounts and continued benefits from productivity initiatives, partially offset by continued project-related costs, in the coming year. "We expect VF will focus on debt reduction until it achieves its target. The company has undergone significant management changes since the new CEO, Bracken Darrell, joined in July 2023, with 14 of 15 members of the global leadership team new to VF or their roles in the past two years. This includes new global brand presidents for Vans and The North Face, chief financial officer, and chief operating officer. In addition, the company has made several changes to its board with the addition of new independent directors. "The company's priorities include cost reduction, reinvestment into brands, and reducing debt, which come ahead of returning cash to shareholders. VF paid only $143 million in dividends in fiscal 2025 compared with $303 million in fiscal 2024. We expect it will abstain from mergers and acquisitions (M&A) and share repurchases with the goal of restoring net leverage to its current target. We note free operating cash flow (FOCF) declined meaningfully in fiscal 2025 given working capital unwind, but we expect VF to continue to generate FOCF above this level going forward. "The stable outlook reflects our forecast for leverage to improve to below 4x over the next 12 months through modest business improvement, debt paydown from asset sale proceeds, and cash flow improvements from cost savings realization." S&P could lower the rating if VF sustains leverage above 4x, continues to experience significant revenue declines, and its unfavorably reassess its business risk profile. This could occur if: -- The company is unable to turnaround Vans with its new initiatives, resulting in continued revenue and market share declines, or The North Face and Timberland do not retain solid performance; -- A weak macroeconomic environment reduces consumer demand for discretionary products such as apparel and footwear; or -- The company demonstrates more aggressive financial policies and pursues a large, debt-funded acquisition or prioritizes shareholder returns over debt reduction. S&P could raise the ratings if business performance improves and we expect VF will sustain leverage below 4x. This could occur if: -- VF stabilizes the performance of its main brands, including Vans, and revenue growth turns positive, with continued realization of cost savings initiatives that improve profitability metrics; and -- The company continues to prioritize debt repayment over shareholder returns while using proceeds from asset sales and discretionary cash flow to permanently reduce debt. VICTORIA'S KITCHEN: Court Extends Cash Collateral Access to Oct. 31 ------------------------------------------------------------------- Victoria's Kitchen, LLC received second interim approval from the U.S. Bankruptcy Court for the Eastern District of Pennsylvania to use cash collateral to fund operations. The court authorized the Debtor to use cash collateral until October 31 to pay the expenses set forth in its monthly budget, subject to a 10% variance. The U.S. Small Business Administration asserts a lien on the Debtor's personal property based on a UCC-1 financing statement. As adequate protection, SBA will receive a monthly payment of $500 from the Debtor starting on October 1. The order does not authorize payment to any bankruptcy professional or to the Subchapter V trustee. The Debtor said it needs access to funds, which constitute cash collateral to avoid defaults, loss of insurance coverage, or other setbacks that would jeopardize its ability to reorganize. 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: No Patient Care Concern, 1st PCO Report Says ------------------------------------------------------------- Suzanne Richards, the patient care ombudsman, filed with the U.S. Bankruptcy Court for the Middle District of Florida her first report regarding the quality of patient care provided by The Villages Health System, LLC. In the report which covers the period from August 1 to September 29, the PCO visited the healthcare provider's clinics and spoke with key administrative, providers and clinic staff. All clinics appear to be very similar and have the same protocols and policies organization wide. The PCO noted no red flag issues reported with respect to staffing, incidents, purchasing or supplies and quality of care. The clinics continue to provide classes to clients that include, but are not limited to, nutrition, balance, and stress. The PCO cited that no reports or complaints regarding financial issues (meeting payroll obligations, supplies, medications impacting operations). No coverage gaps were identified. The Medical Director of Clinical Operations reported that they strive to focus on outcomes and are value-based. Ms. Richards interviewed 23 staff. All expressed no reduction in care delivered; no reports of supply issues; no equipment needs or inability to get equipment fixed or maintained; and no reported resignations of critical openings. Access to care is available via appointment, walk-in at the EZ Care. The ombudsman may be reached at: Suzanne Richards, MBA, FACHE SMR Healthcare Management, Inc. 4528 Dean Martin Drive, Unit 2308 Las Vegas, Nevada 89103 Phone: (714) 290-6226 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. 6:25-bk-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. VVI HOLDINGS: Seeks to Hire Geri Lyons Chase as Bankruptcy Counsel ------------------------------------------------------------------ VVI Holdings, LLC seeks approval from the U.S. Bankruptcy Court for the District of Maryland to employ Law Office of Geri Lyons Chase as counsel. The firm will provide these services: (a) give the Debtor and Debtor-in-Possession legal advice with respect to its powers and duties in these proceedings; (b) prepare on behalf of the Debtor and Debtor-in-Possession necessary complaints, applications, answers, orders, reports, schedules, statements of financial affairs, and other legal papers; (c) take the necessary steps to stay any action by creditors seeking liens, attachments, or other advantages by legal or nonjudicial process; (d) negotiate and prepare a Plan of Reorganization; and (e) perform all other legal services for the Debtor and Debtor-in-Possession which may be necessary. The firm will receive compensation at an hourly rate of $375. The firm was paid a prepetition retainer of $3,000, which included a filing fee of $1,736. According to court filings, Law Office of Geri Lyons Chase is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code. The firm can be reached at: Geri Lyons Chase, Esq. Law Office of Geri Lyons Chase 2007 Tidewater Colony Drive, Suite 2B Annapolis, MD 21401 Telephone: (410) 573-9004 E-mail: gchase@glchaselaw.com About VVI Holdings, LLC VVI Holdings is the owner of three properties, all located in Maryland, having a total current value of $3.61 million. VVI Holdings LLC in Upper Marlboro, MD, filed its voluntary petition for Chapter 11 protection (Bankr. D. Md. Case No. 24-13627) on April 30, 2024, listing $3,609,000 in assets and $2,222,795 in liabilities. Frederick Vermillion as managing member, signed the petition. Judge Lori S. Simpson oversees the case. LAW OFFICE OF GERI LYONS CHASE serve as the Debtor's legal counsel. WELCOME GROUP: Court Extends Cash Collateral Access to Dec. 15 -------------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Ohio, Eastern Division, extended its final order allowing Welcome Group 2, LLC and its affiliates to continue to use their cash collateral to fund operations. The court extended the Debtors' authority to use cash collateral from September 16 to December 15, subject to the revised budget. The Debtors' 13-week budget shows total expenses of $367,350 ($477,750 for undistributed operating expenses and $357,200 for other expenses). The court ordered the Debtors to provide back-up documentation acceptable to RSS WFCM2019-C50 - OH WG2, LLC, the Debtors' secured lender, for the budgetary item concerning Capex prior to utilization of cash collateral for this item. The use of cash collateral is subject to the terms and conditions set forth in the final order issued on Oct. 31, 2023, any further order of the court, and reservation of rights and remedies of the secured lender under the Bankruptcy Code. About Welcome Group 2 LLC Welcome Group 2, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S. D. Ohio Case No. 23-53044) on September 1, 2023. In the petition signed by Abhijit Vasani, as president, InnVite Opco, Inc., sole member, the Debtor disclosed up to $10 million in both assets and liabilities. Judge C. Kathryn Preston oversees the case. Denis E. Blasius, Esq., at Thomsen Law Group, LLC, represents the Debtor as legal counsel. Secured lender RSS WFCM2019-C50 - OH WG2, LLC, is represented by: Tami Hart Kirby, Esq. Walter Reynolds, Esq. Porter Wright Morris & Arthur LLP One South Main Street, Suite 1600 Dayton, OH 45402-2028 Telephone: (937) 449-6721 Facsimile: (937) 449-6820 E-mail: tkirby@porterwright.com wreynolds@porterwright.com WELLPATH HOLDINGS: Loses Bid to Dismiss Poronto Case ---------------------------------------------------- The Honorable Robert J. White of the United States District Court for the Eastern District of Michigan denied Wellpath, LLC's motion to dismiss the amended complaint in the case captioned as ANDREW PORONTO, Plaintiff, v. T.D. HOIST, et al., Defendants, Case No. 24-cv-10522 (E.D. Mich.) based on its bankruptcy discharge. Andrew Poronto commenced this 42 U.S.C. Sec. 1983 action against, among others, Wellpath, LLC and two of its nurse employees, Sarah Breen and Kenneth Debus. The amended complaint alleges that Breen and Debus exhibited deliberate indifference to Poronto's underlying seizure condition, while he was incarcerated at the Macomb County jail, in violation of the Eighth and Fourteenth Amendments to the United States Constitution. It also alleges that Wellpath failed to adequately train the nurses. The case is now consolidated to include nearly identical claims against another Wellpath nurse employee, Mary Krause. On Nov. 11, 2024, Wellpath filed a voluntary petition for chapter 11 bankruptcy in the United States Bankruptcy Court for the Southern District of Texas. That court confirmed the chapter 11 plan on May 1, 2025. It declared that all Claims and Causes of Action of any nature whatsoever against Wellpath are discharged. Before the District Court is Wellpath's motion to dismiss the amended complaint based on its bankruptcy discharge. According to the District Court, the bankruptcy court's order lifting any previously imposed stays authorizes holders of personal injury tort and wrongful death claims against Wellpath to seek determinations of Wellpath's liability by the appropriate civil court with the Wellpath Liquidating Trust as a nominal party (a) to the extent such inclusion is necessary to recover against available third-party insurance proceeds or an unreleased Non-Debtor Defendant, or (b) to establish or liquidate the amount of their claim for distribution under the Plan from the Liquidating Trust. The District Court finds in view of this procedure, it is appropriate to maintain Wellpath as a nominal defendant in this action for the sole purpose of determining its liability for Poronto's asserted injuries. In the event Poronto prevails and obtains a judgment against Wellpath, he may seek to collect damages from either: (1) Wellpath's insurer, or (2) the Wellpath Liquidating Trust. He may not commence post-judgment collection activities against Wellpath directly. Accordingly, Wellpath's motion to dismiss the amended complaint based on its bankruptcy discharge is denied. A copy of the Court's Order is available at http://urlcurt.com/u?l=Vqkqi3from 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. The Bankruptcy Court confirmed the chapter 11 plan on May 1, 2025. WHITE TREE: Seeks to Hire Patten Peterman Bekkedahl as Attorney --------------------------------------------------------------- White Tree LLC seeks approval from the U.S. Bankruptcy Court for the District of Montana to hire Patten, Peterman, Bekkedahl & Green, PLLC as its attorneys. The firm will render these services: a. prepare the chapter 11 bankruptcy petition and schedules in consultation with the Applicant; b. advise on all aspects of the chapter 11 bankruptcy including but not limited to any operating reports; and c. negotiate and prepare motions for cash collateral, a chapter 11 plan, and other similar services. The hourly rates of the firm's counsel and staff are: James A. Patten, Esq. $450 Molly S. Considine, Esq. $350 Other attorneys $250 - $450 Other Paralegals $90 - $195 In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer of $4,700 from the Debtor. James Patten, Esq., a partner at Patten, Peterman, Bekkedahl & Green, disclosed in a court filing that his firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: James A. Patten, Esq. Molly S. Considine, Esq. PATTEN, PETERMAN, BEKKEDAHL & GREEN, PLLC 2817 2nd Avenue North, Ste. 300 P.O. Box 1239 Billings, MT 59103 Telephone: (406) 252-8500 Facsimile: (406) 294-9500 Email: apatten@ppbglaw.com mconsidine@ppbglaw.com About White Tree LLC White Tree LLC, doing business as Allegra Bozeman, is a Montana-based limited liability company providing full-service marketing and print communications. White Tree LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Mon. Case No. 25-20177) on September 30, 2025, listing $412,857 in assets and $1,121,269 in liabilities. The petition was signed by Matthew Cook as principal co-owner. Judge Benjamin P Hursh presides over the case. James A. Patten, Esq. at PATTEN PETERMAN BEKKEDAHL & GREEN represents the Debtor as counsel. WHITE WILSON: Seeks Chapter 11 Bankruptcy in Florida ---------------------------------------------------- Midbay News reports that Northwest Florida's White-Wilson Medical Center, P.A., a prominent and long-established multi-specialty physician group, has filed voluntarily for Chapter 11 bankruptcy protection to implement a corporate restructuring plan aimed at reducing debt and securing financial stability. The voluntary petition was filed in the U.S. Bankruptcy Court for the Northern District of Florida, assigned to Chief Judge Karen K. Specie under case number 25-40486, according to a press release from the organization, according to Midbay News. The group, which employs more than 300 professionals and operates clinics in Fort Walton Beach, Crestview, DeFuniak Springs, Destin, Niceville, and Navarre, stated that patient care and clinic operations will continue uninterrupted throughout the process, the report states. In a letter to patients dated Oct. 3, 2025, CEO Dr. Kenneth Persaud noted that the restructuring will enable White-Wilson, with nearly eight decades of service, to maintain its commitment to the health and well-being of Northwest Florida communities. About White Wilson Medical Center PA White Wilson Medical Center PA is a multi-specialty medical practice headquartered in Fort Walton Beach, Florida. Founded in 1952 by Dr. Henry C. White and Dr. Joseph C. Wilson, the group provides primary care and outpatient services through more than 20 medical specialties, including cardiology, gastroenterology, neurology, pediatrics, radiology, and surgery, as well as operating an ambulatory surgery center. It is the largest private physician group on Florida's Emerald Coast, employing about 58 medical providers and over 230 staff across 12 leased clinic locations in Fort Walton Beach, Crestview, DeFuniak Springs, Destin, Navarre, and Niceville. White Wilson Medical Center PA sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Fla. Case No. 25-40486) on October 3, 2025. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Karen K. Specie handles the case. The Debtor is represented by Michael C. Markham, Esq. of JOHNSON, POPE, BOKOR, RUPPEL & BURNS, LLP. WI-FI WHEELING: Court Extends Cash Collateral Access to Oct. 30 --------------------------------------------------------------- WI-FI Wheeling Dealing, LLC received another extension from the U.S. Bankruptcy Court for the Northern District of Illinois to use cash collateral. The court's fourth interim order extended the Debtor's authority to use cash collateral until October 30 to pay post-petition expenses such as cleaning, landscaping, and utilities. As adequate protection for the Debtor's use of their cash collateral, First Secure Community Bank and other lien claimants will be granted replacement liens on the cash collateral and all property acquired by the Debtor after its Chapter 11 filing that is similar to their pre-bankruptcy collateral. These replacement liens will have the same priority and extent as the lien claimants' pre-bankruptcy liens. In addition, the Debtor was ordered to keep its real property insured, listing First Secure Community Bank as a lienholder. The next hearing is set for October 28. The Debtor holds title to an office complex in Wheeling, Illinois, secured by a mortgage and assignment of leases and rents in favor of First Secure Community Bank, which holds a $6.1 million promissory note that matured in October 2022. The Debtor estimates the property's market value to be at least $13 million based on an August 18, 2022 appraisal by Colliers International Valuation & Advisory Services, indicating the value exceeds the outstanding debt owed to First Secure Community Bank. First Secure Community Bank is represented by: Robert L. Dawidiuk, Esq. The Collins Law Firm, P.C. 1770 Park Street, Suite 200 Naperville, IL 60563 Telephone Number: 630-527-1595 rdawidiuk@collinslaw.com About Wi-Fi Wheeling Dealing LLC Wi-Fi Wheeling Dealing LLC is a single asset real estate entity that owns an office complex at 1400 S. Wolf Road in Wheeling, Illinois. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-10181) on July 2, 2025. In the petition signed by Isaac J. Weiss, manager, the Debtor disclosed $13 million in total assets and $9.1 million in total liabilities. Judge Donald R. Cassling oversees the case. Gregory K. Stern, Esq., at Gregory K. Stern, P.C., represents the Debtor as legal counsel. WIN WASTE: S&P Alters Outlook to Positive, Affirms 'B-' ICR ----------------------------------------------------------- S&P Global Ratings affirmed its 'B-' issuer credit rating on WIN Waste Innovations Holdings Inc. and issue-level rating on its senior secured debt. S&P revised the outlook to positive from stable. The maturity of a very large portion of the company's balance sheet debt between December 2027 and March 2028 remains a key credit risk. The positive outlook reflects an at least one-in-three likelihood S&P could raise ratings one notch to 'B' if the company refinances its debt maturities in the next 12 months, while maintaining, or improving upon, its current debt leverage levels. WIN Waste Innovations Holdings Inc. has partially addressed a key liquidity risk (related to the medium-term maturities of it debt) after paying down borrowings under its revolving credit facilities with proceeds from the sale of an asset. Gross proceeds from the South Broward facility sale has strengthened liquidity. The company has utilized proceeds from the sale to pay down a significant portion of its borrowings on the $315 million revolving credit facility maturing January 2028 (December 2027 under certain conditions) and its $114 million facility maturing March 2026. This paydown creates availability under the $315 million facility, which boosts liquidity. The paydown also reduces credit risk associated with the near-term maturity of the smaller credit facility. S&P said, "We expect WIN Waste to sustain its improved operating performance. The company's EBITDA has improved steadily from trough levels in 2023 and 2022, when unexpected operating issues and macroeconomic challenges hurt earnings. We believe it has now built up a brief track record of improving earnings, which will likely support the company's attempt to refinance debt in the future. We expect the company to at least maintain earnings (pro forma for the sale) at current levels in 2026. More specifically, we think the company's Waste-to-Energy (WtE) business remains favorable at least over this year and next. This business is an important contributor to the recent growth in EBITDA. "We expect WIN Waste's S&P Global Ratings-adjusted total debt to EBITDA to be below 7x. This is a meaningful improvement from the recent past, when the ratio approached 10x. In our calculations, we exclude certain addbacks to company-reported EBITDA and add back certain items such as capitalized operating leases to company-reported debt. However, continued negative cash generation will likely prevent a further decrease in its debt leverage. "However, our rating continues to reflect refinancing risks. While the company addressed important near-term risks, the concentration of maturities for virtually all debt in a short period over the next two-and-a-half to three years creates some medium-term risk that we don't currently reflect in our view of near-term (next 12 months) liquidity. Unless addressed in a timely manner, this aspect of the capital structure could become a meaningful risk beyond the near term. We think this creates comparative risk relative to companies with otherwise similar credit quality. "Our ratings also consider WIN Waste's business strengths. We continue to view the company's operations within the Northeastern U.S. market as a strength given the shrinking landfill capacity and limits (related to environmental regulations) on expansion of such capacity. We expect earnings will increasingly reflect these strengths, as well as improvements in pricing in energy markets in particular. "Prior to 2024, external and unanticipated internal challenges hurt earnings. We don't anticipate a repeat of that situation in our base case given management's actions to strengthen operations. The company better leveraged its strengths in recent quarters. We will continue to monitor its ability to insulate its performance from unexpected setbacks and future macroeconomic challenges. "The positive outlook reflects our view that liquidity will remain adequate despite the maturity of the unextended $114 million revolver early next year because the company has utilized asset sale proceeds to pay down most borrowings under this revolver. The outlook also reflects our view that proceeds from the sale of the Broward asset, and the expectation for at least stability in future earnings, could increase the likelihood of the company successfully refinancing its December 2027 to March 2028 maturities in a timely manner. We also expect sources of funds will remain at least 1.2x uses over the next 12 months. We do not anticipate any shareholder rewards, or large debt funded acquisitions. In our base case, we anticipate ongoing negative free cash flow generation at least over the next 12 months, albeit at an improved level over the previous year. We expect the ratio of S&P Global Ratings-adjusted debt to total EBITDA will remain at current levels of below 7x. We anticipate management will be proactive in managing its maturities, refinancing them before they turn current. "We could revise the outlook to stable over the next 12 months if the company does not refinance its debt in a proactive manner, or if unexpected earnings weakness, or increases in debt results in higher than anticipated debt leverage consistently above 7x, or if liquidity weakens. "We could raise ratings if the company, over the next 12 months, refinances and extends maturities for debt coming due in 2027 and 2028. Such an action would reduce a key credit risk at the current rating due to the concentrated maturities of virtually all debt in the capital structure. While considering an upgrade we would review the earnings and debt leverage outlook on the company with the expectation that these would remain at least at current levels, with the total debt to EBITDA below 7x." WINDSTREAM HOLDINGS: S&P Withdraws 'B-' Issuer Credit Rating ------------------------------------------------------------ S&P Global Ratings withdrew all its ratings on Windstream Holdings II LLC, including the 'B-' issuer credit rating, following its merger with and into Uniti Group Inc. At the time of the withdrawal, the outlook was stable. WN RESTAURANT: Claims to be Paid from Disposable Income ------------------------------------------------------- WN Restaurant Group, LLC d/b/a Nana's Kitchen filed with the U.S. Bankruptcy Court for the District of New Jersey a Plan of Reorganization for Small Business dated September 29, 2025. The Debtor is a single-member limited liability company that operates an Italian restaurant under the trade name 'Nana's Kitchen.' The Debtor has operated as a local restaurant business prior to filing since November 1, 2018. This Plan provides for the sale of 51% of the membership interests in the Debtor to an investor, Dean White, for $155,000, consisting of: $25,000 down payment, $50,000 cash at closing, and an $80,000 promissory note payable over 36 months at 2% interest. Proceeds will be distributed as follows: * Administrative Expenses: Paid in full subject to Court approval. * Priority Tax Claims: $89,153.06 to the State of New Jersey to be paid in installments with statutory interest over 60 months. * Secured Claims: $67,077.00 rent arrears East of Eden, LLC (landlord) to be cured over 36 months plus all post-petition rent from July 1, 2025 through September 30, 2025 to be cured upon confirmation of the Plan. Secured portion of SBA EIDL loan ($12,994.57) to be paid with interest at contract rate of $3.75%. * General Unsecured Claims: Approximately $360,412.40, including SBA deficiency and trade creditors, paid pro rata from remaining proceeds. * Equity Interests: The existing sole member shall retain 49% ownership interest in the Debtor. An investor will purchase 51% of the membership interests in the Debtor for $155,000 ($75,000 payable at confirmation and $80,000 payable 36 months at 2% interest. The Debtor will pay the plan obligations over a period of 60 months at the rate of $2,821 per month which consists of the income from the promissory note and disposable income from the restaurant. The Subchapter V trustee will oversee distributions under the Plan. A full-text copy of the Plan of Reorganization dated September 29, 2025 is available at https://urlcurt.com/u?l=IRtGQm from PacerMonitor.com at no charge. Counsel to the Debtor: Lawrence W. Luttrell, Esq. Law Offices of Lawrence W. Luttrell 2137 Highway 35, 3rd Floor Holmdel, New Jersey 07733 (732) 872-6900 Email: larry@lwlpc.com About WN Restaurant Group WN Restaurant Group, LLC is a single-member limited liability company that operates an Italian restaurant. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-16848) on June 30, 2025, with $50,001 to $100,000 in assets and $100,001 to $500,000 in liabilities. Judge Mark Edward Hall presides over the case. Lawrence W. Luttrell, Esq., at the Law Offices Of Lawrence W. Luttrell, is the Debtor's bankruptcy counsel. WOLVERINE WORLD: Moody's Raises CFR to 'B2', Outlook Stable ----------------------------------------------------------- Moody's Ratings upgraded Wolverine World Wide, Inc.'s (Wolverine) ratings, including the corporate family rating to B2 from B3, probability of default rating to B2-PD from B3-PD, and senior unsecured global notes rating to B3 from Caa2. The speculative grade liquidity rating (SGL) remains unchanged at SGL-3 and the outlook remains stable. The upgrades reflect Wolverine's turnaround progress, which has led to significant operating income growth and improvement in credit metrics. Moody's-adjusted debt/EBITDA has declined to 5.3x as of June 30, 2025 from 6.4x at year-end 2024, and EBITA/interest expense has improved to 2.8x from 1.8x. Sales have increased at Merrell and Saucony, which together accounted for 63% of Wolverine's total revenue for the last twelve months, as both brands benefit from product innovation and broader distribution, driving growth in both performance and lifestyle categories. The company's Moody's-adjusted EBIT more than doubled in the first half of 2025, driven by its higher revenue, healthier sales mix and supply chain initiatives, partly offset by higher brand investment. The upgrades also reflect Wolverine's extension of its revolving credit facility to 2030 from 2026 and repayment of its remaining $25 million term loan with revolver borrowings. The two-notch upgrade of the senior unsecured notes rating to B3 from Caa2 also incorporates the smaller amount of secured debt in the capital structure following the refinancing, as the revolver was downsized to $600 million from $800 million. RATINGS RATIONALE Wolverine's B2 CFR reflects the company's relatively small scale and operations in the highly competitive footwear and apparel categories. The company has been executing a comprehensive turnaround, with strong improvement at its larger brands, Merrell and Saucony while revenue performance remains weak at Sweaty Betty and the Wolverine brand. In addition, the company's other brands, representing about 16% of sales for the last twelve months, have very small scale and relatively low direct-to-consumer penetration, limiting the company's ability to leverage customer insights. Wolverine is also subject to social and environmental risks, including remaining remediation and litigation exposure related to per- and polyfluoroalkyl substances (PFAS) at its former tannery facility. At the same time, the rating is supported by the company's ownership of Merrell and Saucony, which are well-recognized brands in the outdoor and running categories. Moody's expects modest earnings growth over the next 12-18 months, as the benefits of Wolverine's continued turnaround efforts are partly offset by higher costs from tariffs and demand pressures as many consumers continue to spend cautiously. Moody's project Moody's-adjusted debt/EBITDA to decline to 4.4x, driven by revolver paydown and earnings improvement. The credit profile is also supported by the company's adequate liquidity over the next 12-18 months, including modestly positive free cash flow, good excess revolver availability, good covenant cushion and lack of near-term debt maturities. The stable outlook reflects Moody's expectations for deleveraging and the maintenance of at least adequate liquidity. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded if earnings, financial leverage and cash flow generation recover on a sustained basis. An upgrade would also require at least good liquidity and a return to sustainable revenue and operating profit growth in each of Wolverine's key brands. Quantitative measures include Moody's-adjusted debt/EBITDA sustained below 4.5x and EBITA/interest expense sustained above 2.25x. The ratings could be downgraded if operating performance declines or if liquidity is weaker than expected, including negative free cash flow or limited covenant cushion. The ratings could also be downgraded if there are material adverse regulatory or litigation developments related to the company's environmental liabilities. Quantitative measures include Moody's-adjusted debt/EBITDA above 5.25x or EBITA/interest expense below 1.5x. Headquartered in Rockford, Michigan, Wolverine World Wide, Inc. is a designer, marketer and retailer of casual, active lifestyle, work, athletic and uniform footwear and apparel. The company's brands include Merrell, Saucony, Sweaty Betty, and Wolverine. Revenue for the latest twelve months ended June 28, 2025 was $1.8 billion. The principal methodology used in these ratings was Retail and Apparel published in September 2025. 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. XTREME SPORTS: Section 341(a) Meeting of Creditors on November 7 ---------------------------------------------------------------- On October 1, 2025, Xtreme Sports Group Chattanooga LLC filed Chapter 11 protection in the Northern District of Texas. According to court filing, the Debtor reports between $1 million and $10 million in debt owed to 1 and 49 creditors. The petition states funds will be available to unsecured creditors. A meeting of creditors under Section 341(a) to be held on November 7, 2025 at 11:00 AM by TELEPHONE. About Xtreme Sports Group Chattanooga LLC Xtreme Sports Group Chattanooga LLC provides indoor entertainment services including trampolines, obstacle courses, climbing walls, and arcade games, catering to families, birthday parties, and special events. Xtreme Sports Group Chattanooga LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 25-43798) on October 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 Edward L. Morris handles the case. The Debtor is represented by Robert T. DeMarco, Esq. of DEMARCO MITCHELL, PLLC. [] Commercial Bankruptcy Filings Up 4% from Jan. to Sept. 2025 -------------------------------------------------------------- During the first nine months of 2025, commercial bankruptcy filings totaled 23,666, reflecting a 4% increase from 22,705 during the same period in 2024, according to Epiq AACER, a leading provider of U.S. bankruptcy data. The uptick signals continued financial strain on businesses amid higher interest rates, tighter credit, and uncertain market conditions. Small business filings, tracked as Subchapter V elections under Chapter 11, reached 1,764 through September 2025, up 6% from 1,669 a year earlier. However, commercial Chapter 11 filings fell 3% to 5,883, compared to 6,078 during the same period in 2024, making it the only category to show a decline. Analysts suggest the dip may indicate that larger companies are finding alternative means of restructuring or debt management outside of bankruptcy court, the report states. For September 2025, total commercial filings increased 13% year-over-year to 2,781, up from 2,471 in September 2024. Commercial Chapter 11 filings rose 3% to 767, while Subchapter V elections surged 40% to 210. "With household debts climbing, lending terms tightening, and geopolitical uncertainty affecting supply chains, bankruptcies continue to move toward pre-pandemic levels," said Amy Quackenboss, executive director of the American Bankruptcy Institute (ABI). On the consumer side, individual bankruptcy filings also climbed. Chapter 7 filings totaled 249,152 for the first nine months of 2025, a 15% increase from 216,773 the prior year. Total bankruptcy filings, including commercial and individual cases, reached 423,053, representing a 10% rise from 383,341 a year earlier. Individual filings grew 11% to 399,387, and Chapter 13 filings were up 4% to 149,337, reflecting mounting household debt pressures, according to report. Epiq AACER Vice President Michael Hunter noted that the data underscores "mounting financial pressure on families across the country." He pointed out that Chapter 7 filings surged 19% year-over-year in September, while Chapter 13 filings rose 10%. Total filings for the month reached 49,182, compared to 42,571 in September 2024. Hunter added that with consumer debt levels at record highs, the trend suggests continued growth in bankruptcy activity heading into 2026. ********* Monday's edition of the TCR delivers a list of indicative prices for bond issues that reportedly trade well below par. Prices are obtained by TCR editors from a variety of outside sources during the prior week we think are reliable. Those sources may not, however, be complete or accurate. The Monday Bond Pricing table is compiled on the Friday prior to publication. Prices reported are not intended to reflect actual trades. Prices for actual trades are probably different. 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