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260310.mbx T R O U B L E D C O M P A N Y R E P O R T E R Tuesday, March 10, 2026, Vol. 30, No. 69 Headlines 1005 FIRST RESI: March 19 Public Sale Auction Set 1300 DESERT: Fails to Get Court OK on Amended Disclosure Statement 1440 FOODS: S&P Downgrades ICR to 'CCC+', Outlook Negative 34715 LLC: Collateral Public Sale Scheduled for March 10 4010 THOR: Aleida Martinez Molina Named Subchapter V Trustee 4010 THOR: Seeks to Hire Breuer Law PLLC as Bankruptcy Counsel 5410 30TH STREET: Expands Scope of Work of Deirdre T. Johnson 60206 LLC: Public Sale Auction Slated for March 13 68-70 SPRING: Collateral Public Auction Scheduled for May 14 7Q59 AMHERST: Court Extends Cash Collateral Access to April 2 8TH STREET NE: Contributions & Sale Proceeds to Fund Plan A&A GLOBAL: Crescent Capital Marks $594,000 1L Loan at 79% Off ACTION SIGNATURE: Crescent Capital Marks $288,000 Loan at 88% Off ACTION SIGNATURE: Crescent Capital Marks $3.8MM 1L Loan at 88% Off ACTION SIGNATURE: Crescent Capital Marks $593,000 Loan at 88% Off ACTION SIGNATURE: Crescent Capital Marks $984,000 Loan at 88% Off ADVANTAGE SOLUTIONS: S&P Affirms 'B-' ICR, Outlook Stable ADVOCATES FOR OPPORTUNITY: Includes AHCA Unsecured Claim Pay AFFORDABLE IRRIGATION: Plan Exclusivity Period Extended to March 26 AM ROOFING: Gets Interim OK to Use Cash Collateral AMC NETWORKS: Secures 95% Participation in Notes Exchange Offer AMERICAN POWER: Case Summary & 19 Unsecured Creditors ANDERSON HAY: Taps KBC Advisors Services LLC as Real Estate Broker ANOINTED TOUCH: Andrew Kight Named Subchapter V Trustee APOGEE BREWING: Unsecureds to Get Share of Remaining Funds APPLIANCE PRO: Seeks to Tap J.B. Merritt & Associates as Accountant ARMADILLO PIZZA: Chris Quinn Named Subchapter V Trustee ARMORED IMPACT: Case Summary & 20 Largest Unsecured Creditors ART LENDING: Collateral Public Auction Scheduled for March 12 ASOCIACIÓN HOSPITAL: Gets Extension to Use BPPR's Cash Collateral AVALIGN TECHNOLOGIES: Crescent Marks $835,000 1L Loan at 17% Off B&BC ESTATES: Seeks to Hire Hudson RE LLC as Real Estate Broker B&BC ESTATES: Seeks to Hire Zazella & Singer as Bankruptcy Counsel BARSTOW MANAGEMENT: Voluntary Chapter 11 Case Summary BEELAND PROPERTIES: Liq Agent Taps Richard A. Richardson as Counsel BELLE MEADE: Hires Central Commercial as Real Estate Broker BIOAGILYTIX: Crescent Capital Marks $15.6MM 1L Loan at 18% Off BIOAGILYTIX: Crescent Capital Marks $816,000 1L Loan at 18% Off BLOOMSBURY DEVELOPMENT: Secured Party Sets March 11, 2026 Auction BRD LAND: Seeks to Hire Kurtzman Carson as Claims, Noticing Agent BUTTERCUP BODYWEAR: Case Summary & 20 Largest Unsecured Creditors CALDERONE SUBS: Seeks to Hire Johayna Espejo as Accountant CAN TRAIL: Case Summary & 20 Largest Unsecured Creditors CANNABIST COMPANY: Further Extends Forbearance Agreement to Mar. 17 CHARLES & COLVARD: Case Summary & 20 Largest Unsecured Creditors CHASEN CONSTRUCTION: Trustee Taps Maurice B. VerStandig as Counsel CHEMOURS COMPANY: Moody's Rates New $600MM Sr. Unsecured Notes 'B1' CHICO'S INVESTMENTS: Seeks to Tap Exp Realty as Real Estate Broker CITRUS SPRINGS: S&P Assigns 'BB+' Rating on 2026A-B Revenue Bonds CNEX LABS: Public Auction Scheduled for March 19 COASTAL GROWERS: Seeks to Hire Berger Singerman as Legal Counsel COCONUT BREEZE: Richard Furtek Named Subchapter V Trustee COLUMBIAN MUTUAL: May 4 Rehabilitation Plan Approval Hearing Set CONDOMINIUM BOARD: Jolene Wee Named Subchapter V Trustee CONTINENTAL BATTERY: Crescent Capital Marks $3M 1L Loan at 48% Off CONTINENTAL BATTERY: Crescent Capital Marks $8MM 1L Loan at 54% Off COSMETIC SURGERY: Unsecureds Will Get 100% of Claims in Plan COUNTRY AIR: Seeks to Hire Julianne Frank PA as Bankruptcy Counsel CREAMY TREATS: Seeks to Hire Ryan C. Wood as Bankruptcy Counsel CRUISING KITCHENS: Court Amends Cash Collateral Order CUMULUS MEDIA: Enters Restructuring Deal to Eliminate $600M in Debt CUMULUS MEDIA: S&P Cuts ICR to 'D' on Chapter 11 Bankruptcy Filing CUSHMAN & WAKEFIELD: S&P Affirms 'BB-' ICR, Outlook Negative DAVENN LLC: Seeks to Hire Herrin Law PLLC as Bankruptcy Counsel DEL MONTE: Seeks to Extend Plan Exclusivity to June 26 DIOCESE OF BURLINGTON: Taps Blueprint as Real Estate Advisor EAGLE MIDCO: Crescent Capital BDC Marks EU1.3MM 1L Loan at 83% Off EAGLE MIDCO: Crescent Capital Marks EU2.8MM 1L Loan at 27% Off EAGLE MIDCO: Crescent Capital Marks EU3.7MM 1L Loan at 27% Off EDWARDS LOGGING: Linda Gore Named Subchapter V Trustee ENVOCORE HOLDING: Crescent Capital Marks $10.3MM 2L Loan at 65% Off EXECUTIVE DEVELOPMENT: Gets Court OK to Use Cash Collateral EXPRESS STORES: Case Summary & Four Unsecured Creditors FINGER LAKE: Trustee Taps Chiampou Travis Besaw as Accountant FLIPCAUSE INC: Committee Taps Anderson & Corroon LLP as Co-Counsel FLIPCAUSE INC: Committee Taps Seward & Kissel as Legal Counsel FORDHAM FULTON: Employs Goldberg Weprin Finkel Goldstein as Counsel FORDHAM FULTON: Seeks Court Approval to Retain Trigild IVL as CRO FORDHAM LANDING: UCC Public Auction Sale Scheduled for March 18 FRANCESCA'S ACQUISITION: Adds $22M New Inventory to Store Closings FREEPORT LNG:S&P Affirms 'B-' Issuer Credit Rating, Outlook Stable GBS BARR: Case Summary & 13 Unsecured Creditors GEE CONCEPTS: Gets Interim OK to Use Cash Collateral Until March 31 GEE CONCEPTS: Hires Ellett Law Offices PC as Bankruptcy Counsel GENER8 LLC: Crescent Capital Marks $1.3MM 1L Loan at 76% Off GENER8 LLC: Crescent Capital Marks $264,000 1L Loan at 62% Off GENER8 LLC: Crescent Capital Marks $6.1MM 1L Loan at 62% Off GLOBAL JOINT: Files Amendment to Disclosure Statement GOLDEN IMAGE: Taps Richard S. Feinsilver as Bankruptcy Counsel GOLDEN TRIANGLE: Taps William R Loubriel Velez as Special Engineer GREEN RIVER: Stapleton Group's Jake Diiorio Named as Receiver GULFSIDE SUPPLY: Moody's Lowers CFR to B3, Outlook Remains Stable H&S COMMERCIAL: Case Summary & 15 Unsecured Creditors HOME TEAM: Employs Mechelle D. Penton as Accountant INKSTER, MI: S&P Places 'BB' Long-Term ICR on CreditWatch Negative INTREPID LLC: Jonathan Dickey Named Subchapter V Trustee IPIC THEATERS: Carol Fox of GlassRatner Named Subchapter V Trustee ISAGENIX INTERNATIONAL: Crescent Marks $3.4M 1L Loan at 61% Off JAYBROOK RENTALS: Case Summary & Two Unsecured Creditors JONES ENTERPRISE: Seeks to Hire Jason Ward Law as Legal Counsel K & M AMUSEMENT: Seeks to Hire Douglas Beaton as Counsel K&M JACKSON: Voluntary Chapter 11 Case Summary KARROW WHITEFISH: Hires Glacier Sotheby's as Real Estate Broker KBR INC: Fitch Keeps 'BB+' LongTerm IDR on Watch Negative KRCM ASTORIA: Employs Goldberg Weprin Finkel as Counsel KSK TRANSPORT: Seeks to Tap Emmett L. Goodman Jr. LLC as Attorney KURTIS TECHNOLOGIES: Hires Kornfield Nyberg as Bankruptcy Counsel LATOUR HOMES: W. Harrison Penn Named Subchapter V Trustee LEROYS MEATS: Gets Final OK to Use Cash Collateral LION CASHMERE: Crescent Capital Marks $4.3MM 1L Loan at 32% Off LION CASHMERE: Crescent Capital Marks $4.9MM 1L Loan at 32% Off LION CASHMERE: Crescent Capital Marks $9.9MM 1L Loan at 32% Off LION RIBBON: Hilco Buys Design Group Americas Assets in Ch. 11 M&J FINANCIAL: Voluntary Chapter 11 Case Summary MAILTROPOLIS LLC: Unsecured Creditors to Split $9K over 3 Years MAKHANI PROPERTIES: Case Summary & Three Unsecured Creditors MARVIN GARDENS: Seeks to Hire Cyrus Zal APC as Bankruptcy Counsel MARYLAND HEALTH: Plan Exclusivity Period Extended to June 5 MATTHEWS INTERNATIONAL: S&P Alters Outlook to Neg, Affirms 'B' ICR MAZCOTA LLC: Seeks to Hire Wagoner Bankruptcy Group as Attorney MEDICAL REVIEW: Crescent Capital Marks $64,000 1L Loan at 25% Off MERICAL LLC: Crescent Capital Marks $8.4MM 1L Loan at 56% Off MERICAL LLC: Crescent Capital Marks $920,000 1L Loan at 31% Off MODERN MEDICAL: Amy Denton Mayer Named Subchapter V Trustee MOUNTAINEER MERGER: S&P Rates $54.8MM Priming Term Loans 'CCC-' MWL LLC: Seeks to Hire Riggi Law Firm as Bankruptcy Counsel NAILOR SERVICES: Taps Edwin M. Shorty Jr. & Associates as Counsel NATGASOLINE LLC: Moody's Affirms B3 CFR & Alters Outlook to Stable NAVA HEALTH MD: Case Summary & 20 Largest Unsecured Creditors NAVA HEALTH: Case Summary & 20 Largest Unsecured Creditors NBA PROPERTIES: Taps Coldwell Banker Realty as Real Estate Broker NEO ZONE: Seeks to Hire Gutnicki LLP as Co-Bankruptcy Counsel NEW HOPE: Moody's Affirms B3 Rating on 2020A&B Housing Bonds NEW PIPE PLUMBING: Gets Interim OK to Use Cash Collateral NINE ENERGY: Completes Chapter 11 Restructuring, Cuts $320M in Debt NINE ENERGY: Court Confirms Joint Prepackaged Chapter 11 Plan NMR ENTERPRISES: Hires McGrail & Bensinger as Bankruptcy Counsel NMR ENTERPRISES: Retains CFGI LLC as Financial Advisor OAK GROVE: Taps Jones Lang, Coastal Storage as Real Estate Brokers OAKTREE OCALA: Seeks 45-Day Extension of Plan Filing Deadline OCEANWIDE PLAZA: Claims to be Paid from Property Sale Proceeds OLIVER PACKAGING: Crescent Capital Marks $150,000 Loan at 39% Off OLIVER PARK: Unsecureds to Split $204K via Quarterly Payments OMNI OPHTHALMIC: Crescent Capital Marks $1MM 1L Loan at 64% Off OMNI OPHTHALMIC: Crescent Capital Marks $260,000 1L Loan at 64% Off OMNI OPHTHALMIC: Crescent Capital Marks $312,000 1L Loan at 64% Off OMNI OPHTHALMIC: Crescent Capital Marks $7MM 1L Loan at 64% Off OMNI OPHTHALMIC: Crescent Capital Marks $921,000 1L Loan at 64% Off ONYX SWNG: UCC Public Sale Scheduled for April 23, 2026 PAPA JOHN'S: S&P Alters Outlook to Negative, Affirms 'BB-' ICR PAVO FRESH: Michael Markham Named Subchapter V Trustee PHARMA + VET: Seeks Approval to Hire Elite Find as Accountant PHARMA + VET: Seeks to Hire Juan C Bigas Law Office as Counsel PIC ESTATE: Case Summary & 20 Largest Unsecured Creditors PLASMA BUYER: Crescent Capital Marks $282,000 1L Loan at 22% Off PLASMA BUYER: Crescent Capital Marks $7.4MM 1L Loan at 22% Off PLASMA BUYER: Crescent Capital Marks $830,000 1L Loan at 22% Off PLATINUM HEIGHTS: Gets Final OK to Use Cash Collateral POOLE FUNERAL: Updates Unsecured Claims Pay Details POWER LANE: Voluntary Chapter 11 Case Summary PPV INTERMEDIATE: Crescent Marks $28,000 1L Loan at 18% Off PROSPECT MEDICAL: Court Issues Patient Record Disposal Order RAD DIVERSIFIED: Voluntary Chapter 11 Case Summary RAILHEAD INC: Case Summary & Four Unsecured Creditors RED ROCK: Hires Marcus & Millichap as Real Estate Broker RENDITIONS LLC: Case Summary & 20 Largest Unsecured Creditors RENEWAL REALTY: Hires Marcus & Millichap as Real Estate Broker RENEWAL REALTY: Unsecured Creditors to be Paid in Full RND PROPERTIES: C. Jerome Teel Named Subchapter V Trustee ROLLIN' VETS: Hires Tran Singh LLP as Bankruptcy Counsel SCV GRAPHIC: Unsecured Creditors Will Get 10% of Claims in Plan SEAL ROCK: Seeks to Hire Cyrus Zal APC as Bankruptcy Counsel SHARON VITALE: Tarek Kiem of Kiem Law Named Subchapter V Trustee SILENT HERO: Brian Hofmeister Named Subchapter V Trustee STANDARD FREIGHT: Aaron Cohen Named Subchapter V Trustee STANDARD FREIGHT: Seeks to Use Cash Collateral SUNSWICK 35/35: Taps Richard S. Feinsilver as Bankruptcy Counsel T.E.A.M. PARKER: Seeks to Hire Bush Law Firm LLC as Legal Counsel TCB INVESTMENTS: Craig Geno Named Subchapter V Trustee TECHNICAL ARTS: Taps GlassRatner Advisory as Expert Witness TMC MAINTENANCE: Tamara Miles Ogier Named Subchapter V Trustee TONOPAH SOLAR: Seeks to Hire Debevoise & Plimpton as Co-Counsel TRANSPORTATION INSIGHT: Crescent Marks $1.2MM 1L Loan at 31% Off TRANSPORTATION INSIGHT: Crescent Marks $5MM 1L Loan at 31% Off TRANSPORTATION INSIGHT: Crescent Marks $713,000 1L Loan at 33% Off TRIAD EDUCATIONAL: S&P Lowers LT 2026 Revenue Bond Rating to 'BB+' TRISTRUX LLC: Crescent Capital BDC Marks $1.1MM 1L Loan at 67% Off TRISTRUX LLC: Crescent Capital Marks $2.7MM 1L Loan at 67% Off TRISTRUX LLC: Crescent Capital Marks $982,000 1L Loan at 67% Off TW ELECTRIC: Richard Preston Cook Named Subchapter V Trustee TW ELECTRIC: Seeks to Tap Hendren Redwine & Malone as Counsel TZADIK SIOUX: Amends Unsecured Claims Pay Details UNITED SITE: Completes Restructuring With $2.4B Debt Reduction VALINA RELAX: Gets Extension to Use Cash Collateral VANTAGE INSURANCE: Crescent Capital Marks $78,000 Loan at 58% Off VENUS CAPITAL: Court Grants Chapter 15 Recognition VILLAGE ROADSHOW: Plan Confirmation Hearing Scheduled for April 16 WELLMADE FLOOR: Seeks to Extend Plan Exclusivity to May 31 WESCO INT'L: Fitch Affirms 'BB+' LongTerm IDR, Outlook Stable WHITE ROCK MEDICAL: Gets Extension to Use Cash Collateral WOODCREST CONDOMINIUMS: Seeks to Extend Plan Exclusivity to June 1 WSFOUR-55 INC: Case Summary & Three Unsecured Creditors WYNDHAM HOTEL: Fitch Rates New $650MM Unsec. Notes Due 2033 'BB+' ZAHAV 3310: Hires Century 21 Jim White as Real Estate Broker [] Fitch Affirms Ratings on Seven North American Airline Companies [] Maine Camping Resort Up for Sale on March 5 [] Total U.S. Bankruptcy Filings Up 14% in February 2026 ********* 1005 FIRST RESI: March 19 Public Sale Auction Set ------------------------------------------------- Manchester Securities Corp., And Zyquan Investments Limited ("Secured Party"), will sell 100% of the Collateral, to the highest bidder at a public sale. The public sale will take place at 10:00 am on March 19, 2026, both in person and remotely from the offices of Holland & Knight LLP, 787 Seventh Avenue, New York, New York 10019, with access afforded in person and remotely by zoom or other web-based video conferring and/or telephonic conferencing program selected by Secured Party. By virtue of certain defaults by 1005 First Resi Borrower, LLC ("Borrower" or "Debtor") under a loan, dated as of Dec. 20, 2019 ("Mezzanine Loan Agreement"), as amended by that certain Amendment to Mezzanine Loan and Security Agreement, dated as of Dec. 20, 2023 ("Amended Mezzanine Loan Agreement"), and Mezzanine Loan Promissory Note, dated Dec. 20, 2019 in the original principal amount of $61,642,091.00 ("Mezzanine Note"), as amended by that certain Amendment to Mezzanine Loan Promissory Note, dated as of Dec. 20, 2023, which, among other things, increased the original principal amount of the Mezzanine Loan to the maximum principal sum of $63,642,091.00 ("Amended Mezzanine Note"), which Loan has a current unpaid principal balance of $87,649,924.90, which Loan is evidenced and secured by, among other things, that certain Mezzanine Pledge and Security Agreement, dated as of Dec. 20, 2019 ("Mezzanine Pledge Agreement"), by Borrower, as Pledgor, in favor of Manchester Securities Corp., a New York corporation, as administrative agent for Lender ("Administrative Agent"), and whereby Debtor pledged to Secured Party, one hundred percent (100%) of the all of its right, title and interests in the Collateral and does not involve the direct sale of the Property. As set forth in Section 2 of the Mezzanine Pledge Agreement, Borrower pledged, a first priority security interest in all of Borrower's right, title and interest in, to or under the following, whether now owned or hereafter acquired ("Collateral"): i) all Pledged Company Interests (meaning 100% of the limited liability company interest of Borrower in 1005 First, LLC; ii) all securities, additional equity interests, moneys or property representing dividends, distributions, cash or interest on any of the Pledged Securities, or representing a distribution in respect of the Pledged Securities, or resulting from a split-up, revision, reclassification or other like change of the Pledged Securities or otherwise received in respect of or otherwise in exchange therefor, and any subscription warrants, rights or options issued to the holders of, or otherwise in respect of, the Pledged Securities; iii) any amounts payable under any policy of insurance by reason of loss or damage to the Pledged Securities or the Project; iv) all "accounts", "general intangibles", "instruments" and "investment property" constituting or relating to the foregoing; and (v) all Proceeds of any of the foregoing. The Sale shall be conducted in respect of an indebtedness with a current unpaid principal balance of $ 87,649,924.90, together with interest thereon, plus all other sums due under the Mezzanine Pledge Agreement and other Mezzanine Loan Documents, subject to all prior liens, including relating to that certain Construction Loan and Security Agreement dated as of December 20, 2019 in the original principal amount of $130,600,000 ("Senior Loan"), which secures certain real property ( "Property") consisting of the residential and retail component of a certain mixed-use development, commonly known as the "Revel NoMa" and f/k/a "Storey Park-Resi", and located at or about 1005 1st Street, NE, Washington, D.C., and all expenses and fees of Secured Party, including, but not limited to, advertising and publishing costs and attorneys' fees, the Terms and Conditions of Bidding and Sale, and the auctioneer's fees. The Collateral will be sold to the highest qualified bidder; provided, however, that Secured Party reserves the right to cancel the sale in its entirety, or to adjourn the sale to a future date by announcement made at the time and place scheduled for the public sale. The Collateral will be sold only as a block to a single purchaser and will not be split up or broken down. Lender may credit bid the lien of the Lender and/or make cash bids at the Sale. The Sale will be conducted by Mannion Auctions LLC, by Matthew Mannion, Licensed Auctioneer, NYC Division of Consumer Affairs Licensed Auctioneer, License No. 1434494. For additional information respecting the Collateral and a copy of the Terms and Conditions of Bidding and Sale, and parties interested in bidding on the Collateral should contact: Stacey A. Lara, Esq. Attorneys for Secured Party Holland & Knight LLP 787 Seventh Avenue New York, New York 10019 Tel: 212-513-3345 E-mail: stacey.lara@hklaw.com. Upon execution of a standard non-disclosure agreement, additional documentation and information will be made available. 1300 DESERT: Fails to Get Court OK on Amended Disclosure Statement ------------------------------------------------------------------ The Hon. Philip Bentley of the U.S. Bankruptcy Court for the Southern District of New York denied without prejudice 1300 Desert Willow Road, LLC's Application in Support of Order (1) Approving Debtor's Amended Disclosure Statement Pursuant to Section 1125 of the Bankruptcy Code;, (2) Fixing Procedures and Time for Filing Acceptances and Rejections of the Plan, if Any; (3) Fixing Time for Confirmation Hearing and (4) Granting Related Relief. The motion is denied without prejudice to the Debtor's right, if warranted by new developments, to renew its request for approval of a disclosure statement and the setting of a confirmation schedule for its current plan or a modified plan. As shared by the Troubled Company Reporter, on February 24, 2025, the Bankruptcy Court concluded that it is appropriate to permit Romspen Investment LP to proceed to a hearing on confirmation of its plan, while holding the Debtor's plan in abeyance. Romspen is the Debtor's sole secured creditor, and it may be the Debtor's only substantial creditor of any sort, secured or unsecured. As of the petition date, the Debtor owed Romspen approximately $26 million, consisting of about $20 million of principal and $6 million in interest, late fees and legal expenses. According to the Court, in contrast to Romspen's plan, the Debtor's plan is problematic in multiple respects. One of the bedrock requirements for confirmation of a chapter 11 plan is that, if any creditor class is impaired, the plan must be accepted by at least one impaired creditor class, without counting the votes of insiders. Because the Debtor's plan impairs Class 2 -- the secured creditor class, which consists of Romspen alone -- and Romspen has said it will vote to reject the Debtor's plan, the plan cannot be confirmed without the acceptance of another impaired creditor class. Based on the record currently before the Court, it appears unlikely that the Debtor's plan will obtain such acceptance. The Debtor hopes to obtain the acceptance of Class 3, the plan's general unsecured creditor class, which consists of Equity Funding and the two law firms that claim to be owed legal fees. However, if Equity Funding's claim is disallowed, Class 3 will not be impaired. Without Equity Funding, that class would consist only of the two law firm claimants, whose claims would be paid in full and in cash by the effective date. Although Romspen's objection to Equity Funding's claim is not yet before the Court, the evidence now in the record suggests that Equity Funding's claim is likely to be disallowed in its entirety. The upshot is that, if Equity Funding's claim is disallowed -- which appears likely -- the Debtor's plan will be unconfirmable on its face. A copy of the Court's Order dated February 27, 2026, is available at https://urlcurt.com/u?l=O058JF from PacerMonitor.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, IL 60601 Telephone: (312) 602-5000 Facsimile: (312) 602-5050 E-mail: brigid.ndege@bclplaw.com 1440 FOODS: S&P Downgrades ICR to 'CCC+', Outlook Negative ---------------------------------------------------------- S&P Global Ratings lowered its issuer credit rating on U.S.-based 1440 Foods Topco LLC to 'CCC+' from 'B-'. S&P also lowered its issue-level rating on its $732 million first-lien term loan due in 2031 to 'CCC+' from 'B-', and its $150 million second-lien term loan due in 2031 to 'CCC-' from 'CCC'. The respective recovery ratings of '3' and '6' are unchanged. S&P said, "The negative outlook reflects the possibility that we could lower the ratings if we envision default scenarios over the next 12 months resulting from the company's inability to turn around operating performance and liquidity constraints. "1440 Foods Topco demonstrated weaker-than-expected operating performance in fiscal 2025 and the first quarter of fiscal 2026. We expect higher costs and competitive challenges for FitCrunch will persist over the next few quarters, leading us to revise downward our base-case forecast for fiscal 2026. "We forecast S&P Global Ratings-adjusted leverage will remain weak at above 10x, free operating cash flow (FOCF) will remain negative, and liquidity will be constrained through fiscal 2026. As such, we believe 1440 Foods' capital structure has become unsustainable, absent a meaningful improvement in operating performance. "The downgrade reflects 1440 Foods' continued operating underperformance and our expectation for weak credit metrics in fiscal 2026. 1440 Foods' operating performance in the first quarter of fiscal 2026 (ending September) was materially weaker than our prior expectations due to increased competition, distribution losses, and higher input costs. Its quarterly S&P Global Ratings-adjusted EBITDA margin declined by more than 700 basis points (bps) year over year versus the prior-year period. This follows significant underperformance in fiscal 2025 with S&P Global Ratings-adjusted EBITDA margins declining by about 250 bps. "We believe there is significant uncertainty around management's ability to stabilize FitCrunch's performance and that it will take time for any benefits to materialize." This, combined with higher costs associated with its verticalization initiative, elevated whey protein costs, and an elongated timeline associated with the realization of savings from the insourcing of manufacturing operations, will keep profitability depressed through fiscal 2026. Moreover, it will need to navigate these operating headwinds amid significant management changes following the recent replacement of prior CFO, Jordan Arma with Rafael Teixeira, who joins the company from sponsor 4X4 Capital. This follows a CEO change in late 2025 and several other executive-level changes over the past few months. S&P said, "We now forecast a 6% sales decline and S&P Global Ratings-adjusted EBITDA margin improvement of about 100 bps in fiscal 2026. This compares with our previous expectation for 7% growth in sales and S&P Global Ratings-adjusted EBITDA margin improvement of about 350 bps in fiscal 2026. We estimate credit metrics will remain elevated, with S&P Global Ratings-adjusted leverage at about 12.5x (previously 7.6x) and cash EBITDA interest coverage of about 0.9x (previously 1.6x) as lower profitability and heightened working capital requirements pressure cash flow. "We view 1440 Foods' capital structure as unsustainable given its insufficient coverage of its relatively high debt service requirements and its tight liquidity position. 1440 Foods burned through $20 million of liquidity during the first fiscal quarter amid operating headwinds. As of the first fiscal quarter, 1440 Foods' liquidity was significantly tighter than at the end of fiscal 2025 and compared to about $200 million as of close of the FitCrunch acquisition in November 2024. The company has relatively high debt service requirements. As a result, we believe that the company's sources of liquidity would only cover its projected uses by about 1.1x. "We revised our assessment of its liquidity to less than adequate because we believe the company may face liquidity constraints over the next few quarters as a result of its limited revolver availability and expected weak cash flow generation. This tight liquidity position could restrict 1440 Foods' operating flexibility if operating or macroeconomic headwinds mount. These could include weaker demand, particularly for FitCrunch; operating disruptions; or an uptick in input costs. We note the ABL is subject to a springing fixed-charge coverage covenant that could further restrict availability during a period of stress. "We forecast 1440 Foods will experience another year of steep cash flow deficits in fiscal 2026 as it continues to incur costs related to its verticalization initiative and funds higher-than-historical levels of working capital requirements. We forecast a reported FOCF deficit of about $31 million ($5 million surplus previously) in fiscal 2026, after the company reported a deficit of $118 million in fiscal 2025 and $28 million in fiscal 2024. "1440 Foods will continue to incur costs related to its vertical integration project as well as other one-time expenses related to plant enhancements over the next few quarters. We also estimate the company will need to build its inventory balances during fiscal 2026 compared to fiscal 2025, as it transitions to an in-house production model for its largest brand, Pure Protein. "Moreover, we continue to believe the project entails significant execution risks and constrains operating flexibility due to higher fixed overhead costs. We also believe insourcing production exposes 1440 Foods to greater downside if demand is soft--similar to what it is facing with FitCrunch, which has an in-house production model." 1440 Foods faces significant competitive risks and FitCrunch's ability to return to growth remains uncertain. The company recently faced increased competition from new entrants in the category such as Built, Barebells, and David. Each of these competitors have exhibited rapid growth and won significant market share from FitCrunch. FitCrunch has also suffered from its lack of packaging and product innovation, resulting in lost shelf space at its largest customer Costco. Revenue declines for the brand accelerated to 42.2% in the first quarter of fiscal 2026 after declining 12.4% in fiscal 2025. In addition to continuing significant volume losses at FitCrunch, the company also suffered distribution losses in its largest brand, Pure Protein. While S&P recognizes 1440 Topco will continue to focus on packaging, innovation, marketing, and expanding its distribution, S&P views rising competitive pressures as a meaningful ongoing risk. Management remains committed to stabilizing FitCrunch's performance and plans to rebuild its program at Costco by introducing new flavors, revamp product packaging, reinvigorate its marketing and advertising programs, and introduce innovative products. Moreover, the company is working closely with retailers to repurpose Pure Protein's shelf space more efficiently by reallocating it to its better-performing products, which will mitigate impact to its consolidated revenues. S&P will monitor the success of these plans. However, the company's stretched credit metrics provide it with a limited runway to execute its new strategy. The negative outlook reflects the possibility that S&P could lower the ratings if default scenarios becomes more likely within the next 12 months. S&P could lower the ratings on 1440 Foods if a near-term default scenario such as a liquidity shortfall, distressed exchange, or violation of financial covenants becomes imminent. This could occur if: -- The company's profitability and cash flow do not improve due to lower demand or persistent high inflation; or -- Liquidity worsens such that the company needs to seek external support to fund its operations. S&P could take a positive action if 1440 Foods' operations improve, it generates positive FOCF generation, and EBITDA cash interest coverage improves to about 1.5x. This could occur if: -- The company successfully implements its operating plan and steadily increases EBITDA as a result of stable volumes, lower costs, savings from productivity initiatives, and other operational improvements; and -- Liquidity continues to improve without the company relying on external sources of funding for its ongoing operations. 34715 LLC: Collateral Public Sale Scheduled for March 10 -------------------------------------------------------- In accordance with applicable provisions of the Uniform Commercial Code as enacted in New York, by virtue of certain Events of Default under those certain Pledge and Security Agreements, each dated as of December 15, 2023, and that-certain Amended and Restated Pledge Security Agreement and Assignment of Lease and Rents, dated as of June 18, 2024 (collectively, the "Pledge Agreements"), executed and delivered by 34715, LLC and JEFFREY M. KRAUSS (individually and collectively, the "Pledgor"), and in accordance with its rights as holder of the security NYC TH SHARE HOLDER LLC ("Secured Party"), by virtue of possession of those certain Share Certificates held in accordance with Article 8 of the Uniform Commercial Code of the State of New York (the "Code"), and by virtue of those certain UCC-1 Filing Statement made in favor of Secured Party, all in accordance with Article 9 of the Code, Secured Party will offer for sale, at public auction: (x) all of 34715, LLC's rights, title, and interest in and to the following: (i) its shares (the "Shares"), in 7 EAST 88TH ST. CORP, allocated to cooperative units 1A, 1B, 2A, 3A, 4A, 5A, 5B and Roof (collectively, the "Units"), at the premises known and located at 7 East 88th Street, New York, NY 10128, (ii) the proprietary leases appurtenant thereto (the "Leases", together with the Units, the "NY Property"), and (y) JEFFREY M. KRAUSS's 100% membership interest in and to the following: (i) 34715, LLC (the "Pledged Entity") and (ii) NYC157 LLC (the "NYC157 Pledged Entity"), and (ii) certain related rights and property relating thereto (collectively, (x) and (y) above, together with the CT Property are the "Collateral"). Secured Party's understanding is that the principal asset of the 34715 Pledged Entity are the Units. Secured Party's understanding is that the principal asset of the NYC157 Pledge Entity is that certain property located at 12 Woodin Road, Kent CT 06757 (the "CT Property", together with the NY Property, collectively, the "Property". Be advised that Pledgor has alleged there may subtenants at the NY Property which may claim an interest to the NY Property. Copies of the alleged subleases can be obtained from Greg Corbin at Northgate Real Estate Group, whose contact information is set forth below. Neither Secured Party nor Corbin make any representations about the validity or enforceability of the subleases. Mannion Auctions, LLC ("Mannion"), under the direction of Matthew D. Mannion or William Mannion (the "Auctioneer"), will conduct a public sale consisting of the Collateral (as set forth in Schedule A), via online bidding, on March 10, 2026 at 2:45 p.m., in satisfaction of an indebtedness in the approximate amount of $17,622,831.97. including principal, interest on principal, and reasonable fees and costs, plus default interest through March 10, 2026, subject to open charges and all additional costs, fees and disbursements permitted by law. The Secured Party reserves the right to credit bid. Online bidding will be made available via Zoom Meeting: Meeting link https://bit.ly/34715_LLC_UCC Meeting ID: 871 2584 3742 Passcode: 937153 One Tap Mobile: +16465588656,,87125843742#*937153# US (New York) +16469313860,,87125843742#,,,,*937153# US Dial in: +1 646 931 3860 US Bidder Qualification Deadline: Interested parties who intend to bid on the Collateral must contact Greg Corbin ("Corbin"), at Northgate Real Estate Group, 1633 Broadway, 46th Flr, New York, NY 10019, (212) 369-4000, Greg@northgatereg.com, to receive the Terms and Conditions of Sale and bidding instructions by March 9, 2026 at 3:30 p.m. Upon execution of a standard confidentiality and non-disclosure agreement, additional documentation and information will be available. Interested parties who do not contact Corbin and qualify prior to the sale will not be permitted to enter a bid. SCHEDULE A PLEDGED INTEREST: (i) PLEDGOR: 34715, LLC, a New York limited liability company, ISSUER: 7 EAST 88TH ST. CORP., a New York corporation. INTERESTS PLEDGED: 4.05 Shares in Unit 1A; 6.35 Shares in unit 1B; 7.10 Shares in Unit 2A, 3.75 Shares in Unit 3A; 3.75 Shares in Unit 5A, 24 Shares in Units 4A, 4B, 5B and Roof -and- 5 respective proprietary leases. (ii) PLEDGOR: JEFFREY M. KRAUSS, an Individual, ISSUER: 34715, LLC, a New York limited liability company. INTERESTS PLEDGED: 100% membership interest. (iii) PLEDGOR: JEFFREY M. KRAUSS, an Individual, ISSUER: NYC157, LLC a Connecticut limited lability company. INTERESTS PLEDGED: 100% membership interest. Attorneys for Secured Party: Attn: Jerold C Feuerstein, Esq. KRISS & FEVERSTEIN LLP 360 Lexington Avenue, Suite 1200 New York, New York 10017 (212) 661-2900 4010 THOR: Aleida Martinez Molina Named Subchapter V Trustee ------------------------------------------------------------ The Acting U.S. Trustee for Region 21 appointed Aleida Martinez Molina, Esq., as Subchapter V trustee for 4010 Thor Collision Corp. Ms. Molina will be paid an hourly fee of $450 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Molina declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Aleida Martinez Molina, Esq. 2121 NW 2nd Avenue, Suite 201 Miami, FL 33127 Telephone: (305) 297-1878 Email: Martinez@subv-trustee.com About 4010 Thor Collision Corp 4010 Thor Collision Corp is an automotive body repair business based in Boynton Beach, Florida. 4010 Thor Collision filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S. D. Fla. Case No. 26-12210) on February 24, 2026, listing assets of between $100,001 and $500,000 and liabilities of between $500,001 and $1 million. Francesca Velluzz, president of 4010 Thor Collision, signed the petition. Stephen Breuer, Esq., at Breuer Law, PLLC, represents the Debtor as bankruptcy counsel. 4010 THOR: Seeks to Hire Breuer Law PLLC as Bankruptcy Counsel -------------------------------------------------------------- 4010 Thor Collision Corp. seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to hire Breuer Law, PLLC to handle its Chapter 11 case. The hourly rate for the firm's attorneys is $525 while the hourly rate for paraprofessionals is $275. The firm received a $10,000 retainer. As disclosed in court filings, Breuer Law is a "disinterested person" pursuant to Section 101(14) of the Bankruptcy Code. The firm can be reached through: Stephen C. Breuer, Esq. Breuer Law, PLLC 6501 Congress Ave., Ste. 240 Boca Raton, FL 33487 Telephone: (954) 607-3244 Facsimile: (954) 607-3244 Email: Stephen@breuer.law About 4010 Thor Collision Corp. 4010 Thor Collision Corp. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-12210) on February 24, 2026, listing $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Stephen C Breuer, Esq. at Breuer Law, PLLC serves as the Debtor's counsel. 5410 30TH STREET: Expands Scope of Work of Deirdre T. Johnson ------------------------------------------------------------- 5410 30th Street DC, LLC seeks approval from the U.S. Bankruptcy Court for the District of Maryland to approve a supplemental compensation arrangement and modify the scope of employment of Deirdre T. Johnson, a professional practicing law in Maryland. The original engagement agreement excluded adversary proceedings, contested matters beyond routine administration, appeals, and post-confirmation matters. Subsequent developments in this case now require legal services beyond the originally contemplated scope, including: -- Motion to Enforce the Automatic Stay; -- Opposition to Motion to Convert to Chapter 7; -- Objection to proof of claim litigation' and -- Other and further adversary proceedings These services involve litigation and significant additional legal work not covered by the original flat-fee arrangement. Ms. Johnson previously received a $1,500 flat fee for preparation and filing of the Chapter 11 petition and provision of standard Chapter 11 case administration services. Compensation for additional services will be billed at the hourly rate of $300, plus reimbursement of actual and necessary expenses. Mr. Johnson assured the court that he is a "disinterested person" within the meaning of 11 U.S.C. 101(14). The counsel can be reached through: Deirdre T Johnson, Esq. Deirdre T Johnson, Esq. Attorney at Law 9701 Apollo Dr., Suite 301 Upper Marlboro, MD 20774 Tel: (301) 742-5385 Email: dtjesq@dtjohnsonlaw.com About 5410 30th Street DC LLC 5410 30th Street DC LLC is a limited liability company. 5410 30th Street DC LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Md. Case No. 25-19605) on October 1, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Lori S. Simpson handles the case. The Debtor is represented by Deirdre Theresa Johnson, Esq. 60206 LLC: Public Sale Auction Slated for March 13 -------------------------------------------------- N.Y.R.F.P. LLC and Park National Capital Funding LLC ("secured parties") will offer for sale at public auction the rights, title and interest of Isaac Perlmutter ("pledgor") in and to 100% of the membership interests and other equity interests including but not limited to all economic rights and governance rights associated therewith, in and to 60206 LLC, which owns the real property knows as 6020 16th Avenue Unit 6 and P54, Brooklyn, New York 11219 ("property", "collateral"). The rights secured by the secured parties are subject to a senior loan and first-priority mortgage on the property and the obligations and liabilities set forth in the senior loan documents. In order to satisfy the amounts due to the secured party in the amount of $1,109,500 plus interest at the rate of 24% per annum from Feb. 12, 2026, the public auction will be held on March 13, 2026, at 10:00 a.m. EST, and will be conducted by Matthew D. Mannion of Mannion Auctions LLC, virtually via Zoom Meeting link: https://us06web.zoom.us/j/85224916593?pwd=MgDAJaMbE2lnVSJyVRRkbVE4ZPdBJb.1, Meeting ID: 852 2491 6593, Passcode: 327029, or by phone at 1(646) 931-3860. Any individual or entity interested in bidding on the collateral must contact, Mr. Mannion at mdmannion@jpandr.com or by phone at +1 (212) 267-6698, to obtain a copy of the terms of sale and information regarding bidding instructions. The relevant UCC was filed on Oct. 26, 2022 under CRFN 2022000404920 in the State of New York, whereby Isaac Perlmutter, as pledgor pledged his interest in 60206 LLC to the secured parties. Attorneys for the Secured Parties: Matthew W. Lizotte, Esq. Law Offices of Matthew W. Lizotte 1 Blue Hill Plaza, Lobby Lvl Suite 1509 Pearl River, New York 10965 Tel: (845) 414-3331 68-70 SPRING: Collateral Public Auction Scheduled for May 14 ------------------------------------------------------------ Pursuant to the Uniform Commercial Code, Silver Hill Capital, LLC (f/k/a Community Loan Service, LLC) (together with its successors and assigns, the "Secured Party") will offer for sale at public auction to be held at 3:00 p.m. (prevailing Eastern Time) on May 14, 2026, and conducted both via Zoom (or similar online platform) and in-person at the offices of Hunton Andrews Kurth LLP, located at 200 Park Avenue, New York, NY 10166, all right, title and interest of each of 68-70 Spring Street Holdings 1, LLC; 73-75 Sullivan Holdings 1, LLC; 241 Mulberry Holdings LLC; and 1-3 Mott and 218 Lafayette Street Holdings, LLC, each a Delaware limited liability company (each a "Debtor" and collectively, the "Debtors"), respectively, to: (i) all limited liability company interests in 68-70 Spring Partners 1 LLC, a Delaware limited liability company, and all other collateral pledged by Debtor 68-70 Spring Street Holdings 1, LLC under that certain Mezzanine Pledge and Security Agreement, dated as of November 12, 2024, made by Debtors in favor of Secured Party (the "Pledge Agreement"); (ii) all limited liability company interests in 73-75 Sullivan Partners-1, LLC, a Delaware limited liability company, and all other collateral pledged by Debtor 73-75 Sullivan Holdings 1, LLC under the Pledge Agreement; (iii) all limited liability company interests in 241 Mulberry Partners, LLC, a Delaware limited ability company, and all other collateral pledged by Debtor 241 Mulberry Holdings LLC under the Pledge Agreement; and (iv) all limited liability company Interests in 1-3 Mott and 218 Lafayette Street Partners, LLC a Delaware limited ability company, and all other collateral pledged by Debtor 1-3 Mott and 218 Lafayette Street Holdings, LLC under the Pledge Agreement; (items (i), (ii) and (iii), and (iv), each an "Individual Collateral", and collectively, the "Collateral"). The Collateral will first be offered as a collective whole and then each Individual Collateral will be offered independently. Whichever method of sale results In the highest aggregate bid from qualified bidder(s) (as determined by Secured Party) will be utilized. Copies of the Pledge Agreement are available for inspection as hereinafter described. The Secured Party was granted a security Interest in the Collateral to secure certain indebtedness (the "indebtedness") of the Debtors. All interested prospective purchasers that meet the qualifications for bidding are invited to attend and bid at the auction and will have the option to attend either via Zoom (or similar online platform) or in-person. Based upon information known to Secured Party or provided by the Debtors, and/or certain other persons and entities affiliated therewith, it is the understanding of the Secured Party (but without any warranty or representation by the Secured Party as to the accuracy or completeness of the following matters) that: (i) Debtor 68-70 Spring Street Holdings 1, LLC owns all limited liability company interests in 68-70 Spring Partners 1, LLC; Debtor 73-75 Sullivan Holdings 1, LLC owns all limited lability company interests in 73-75 Sullivan Partners-1, LLC; Debtor 241 Mulberry Holdings LLC owns all limited liability company interests in 241 Mulberry Partners, LLC; and Debtor 1-3 Mott and 218 Lafayette Street Holdings, LLC owns all limited lability company Interests in 1-3 Mott and 218 Lafayette Street Partners, LLC; (ii) 68-70 Spring Partners 1, LLC owns the real property commonly known as 68-70 Spring Street, New York, NY 10012 (the "Spring Street Property"); 73-75 Sullivan Partners-1, LLC owns the real property commonly known as 73-75 Sullivan Street, New York, NY 10012 (the "Sullivan Street Property"); 241 Mulberry Partners LLC owns the real property commonly known as 241 Mulberry Street, New York, NY 10012 (the "Mulberry Street Property"; and 1-3 Mott and 218 Lafayette Street , LLC owns the real property commonly known as 1-3 Mott Street a/k/a 201/205 Worth Street, New York, NY 10012, 218 Lafayette Street, New York, NY 10012 (the "Mott Street and Lafayette Street Property," together with the Spring Street Property, the Sullivan Street Property, an the Mulberry Street Property, the "Properties"); and (iii) the Properties are subject to a first priority mortgage loan securing indebtedness In the original principal amount of $76,641,500.00, which may be in default. The Secured Party reserves the right to accept or reject any bid and shall not be obligated to make any sale pursuant to this notice. The Secured Party reserves the right to bid and to become a purchaser at the sale to be made pursuant to this notice and to credit against the purchase price of the Collateral any and all of the indebtedness. Collateral will be sold pursuant to appropriate transfer documents on an "AS IS, WHERE IS" basis, with all faults, and without any guarantees, representations or warranties of any kind or nature whatsoever. The limited liability company interests being sold may be considered unregistered securities under the Securities Act of 1933, as amended (the "Securities Act"). The purchaser of the Collateral will required to represent in writing to the Secured Party (the "Bidding Certificate") that such purchaser (i) is acquiring the collateral for investment purposes, solely for the purchaser's own account and not with a view to distribution or resale of the Collateral within the meaning of Section 2(a)(11) of the Securities Act; (ii) is an accredited investor within the meaning of the applicable securities laws; (iii) has sufficient knowledge and experience in financial and business matters so as to be capable of evaluating the merits and risks of investment and has sufficient financial means to afford the risk of investment in the Collateral; (iv) will not resell or otherwise hypothecate the Collateral without a valid registration under applicable federal or state laws, including, without limitation, the Securities Act, or an available exemption therefrom; (v) will purchase the Collateral in compliance with all applicable federal and state laws, and (vi) will be able to satisfy all of the requirements set forth in the Intercreditor Agreement (copies of which are available for inspection as hereinafter described). Additionally, the Bidding Certificate shall provide the prospective bidder’s agreement to indemnity the Secured Party with respect to any claim based on any misrepresentation or inaccuracy contained in such Bidding Certificate. Meeting any requirements of the foregoing shall be at the sole risk, cost and expenses of a prospective bidder. The following will apply with respect to the sale herein described. The Collateral will be sold for cash at such price and on such other commercially reasonable terms as the Secured Party determine. In order for a prospective bidder (other than the Secured Party or its designee) to be a "qualified bidder" and eligible to bid at the public auction, each such prospective Bidder must, unless otherwise agreed in writing by the Secured Party; (a) register with Newmark & Company Real Estate, Inc. (the "Broker") and execute and deliver to the Broker a Bidding Certificate, an Internal Revenue Service form W-9, and a KYC Letter (i) by email to brock.cannon@nmrk.com provided receipt is confirmed by response email, or (ii) by hand, certified mail (return receipt requested) or overnight delivery by a nationally recognized courier service, with a courtesy copy sent by email to brock.cannon@nmrk.com so as to be actually received on or prior to 5:00 p.m. (prevailing Eastern Time) on May 7, 2026; (b) demonstrate to the Secured Party's satisfaction in advance of bidding its financial ability to tender payment for the Collateral; (c) demonstrate, to the Secured Party's satisfaction, that the certifications set forth in its Bidding Certificate are true and correct; and (d) at least two (2) business days prior to the start of the auction, provide an initial deposit to the escrow agent designated by the Secured Party (the "Designated Agent), by wire transfer of immediately available funds from a U.S. commercial bank that is a member of the Federal Reserve System, in an amount equal to $50,000. Prospective bidders are encouraged to perform such due diligence as they deem necessary. The full terms and conditions of the sale, copies of the relevant agreements, information for attending the auction, and other information may be obtained by contacting Brock Cannon of Newmark Company Real Estate, Inc., 125 Park Avenue, New York, 10017, Telephone No.: (646) 315-4785; Email: brock.cannon@nmrk.com. In the event of any conflict between the terms set forth herein and the full terms of public sale, the full terms of public sale shall govern. For further Information please visit the following website: https://tinyurl.com/3amx4z8h. 7Q59 AMHERST: Court Extends Cash Collateral Access to April 2 ------------------------------------------------------------- 7Q59 Amherst, LLC received another extension from the U.S. Bankruptcy Court for the District of Massachusetts to use cash collateral. The interim order penned by Judge Elizabeth Katz extended the Debtor's authority to use cash collateral through April 2 to pay the expenses set forth in its budget. The Debtor projects monthly total operational expenses of $15,150. As protection for the use of their cash collateral, Greenfield Cooperative Bank and other secured creditors will be granted replacements liens to the same extent, validity and enforceability as their pre-bankruptcy liens. The next hearing is scheduled for April 2. 7Q59's cash collateral consists of rentals from its two properties: a 12-unit apartment complex at 1-23 Eastern Avenue, Northampton, Mass., and a single-family rental at 11 South Whitney Street, Amherst, Mass. The 1-23 Eastern Avenue property is valued at $2.1 million while the 11 South Whitney Street property is valued at $430,000. Greenfield Cooperative Bank holds a first mortgage on both properties totaling an estimated $1.6 million. Greenfield Cooperative Bank, as secured creditor, is represented by: Jerry B. Plumb, Jr., Esq. O'Connell & Plumb, P.C. 75 Market Place Springfield, MA 01115 Phone: (413) 733-9111 Fax: (413) 733-9888 jplumb@ocpllaw.com About 7Q59 Amherst LLC 7Q59 Amherst, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Mass. Case No. 25-30150) on March 17, 2025, listing up to $10 million in both assets and liabilities. Xian Dole, manager of 7Q59 Amherst, signed the petition. Judge Elizabeth D. Katz oversees the case. Louis S. Robin, Esq., at Law Offices of Louis S. Robin, represents the Debtor as bankruptcy counsel. 8TH STREET NE: Contributions & Sale Proceeds to Fund Plan --------------------------------------------------------- 8th Street NE Partners, LLC filed with the U.S. Bankruptcy Court for the District of Columbia a Disclosure Statement in support of Chapter 11 Plan of Orderly Liquidation dated February 24, 2026. The Debtor is a limited liability company organized and existing under the laws of the District of Columbia. The Debtor owns and operates a parcel of "single asset real estate" within the meaning of section 101(51B) of the Bankruptcy Code, consisting of a thirteen-unit multi-family building located at 4017, 4021 & 4025 8th Street, NE, Washington, D.C. 20017 (the "Property"). As of the Petition Date, six of the thirteen units were occupied, and the Debtor received monthly rental income of approximately $2,478.00. After the Petition Date, the Debtor took steps to further sale efforts regarding the Property and to bring the District Line Litigation to a conclusion. The Tenant Association failed to close on the Tenant Purchase Agreement by the deadline of August 23, 2025. The Debtor provided District Line with an opportunity to close on the District Line Agreement by notifying District Line, on September 16, 2025, of the Debtor's intent to market the property to new purchasers unless District Line indicated it wished to consummate its purchase agreement. District Line did not respond, and the Debtor began efforts in earnest to sell the Property. The Debtor's efforts to sell the Property during the case did not meet with success, and its efforts to dispossess non-paying tenants also continued to struggle in the D.C. Courts. Two depressed offers to purchase the Property were received, but both were for far less than the $2.6 million amount previously obtained in the District Line Agreement. After extensive consultations with Greysteel and others, the Debtor determined that marketing the Property in its current form as a multi-family apartment building will likely continue to be unsuccessful. As a result, while the Debtor continued efforts to obtain a purchaser, the Debtor also sought counsel in order to apply to District of Columbia Department of Buildings and/or Historic Preservation Office for a permit allowing the Debtor to complete the demolition of all improvements on the Property (a "Raze Permit"), with the intention to sell the Property for redevelopment including construction of new structures by the purchaser. The Debtor believes this course is likely to significantly improve the marketability of the Property. The Debtor will implement these efforts through the Chapter 11 Plan. Under the Plan, the Debtor shall apply for a Raze Permit and remarket the Property for sale, providing tenants with a required 180-day notice to vacate and, as an administrative expense of the estate, paying tenants who relocate within the time required under District of Columbia law a statutorily defined amount of relocation assistance. Class 2 consists of Holders of General Unsecured Claims. The Debtor believes District Line holds a disputed General Unsecured Claim. Except to the extent that a Holder of an Allowed Class 2 Claim agrees to a different and lesser treatment, each Holder of an Allowed Class 2 Claim shall receive from the Debtors, in full and complete satisfaction of the Debtors' obligations under the Plan, an amount equal to such Allowed General Unsecured Claim from Cash, after payment of Allowed Unclassified Claims on the later of the Effective Date or the date such Claim becomes an Allowed Claim. Other than as specifically provided for in the Plan, or the Confirmation Order, post-petition interest shall not accrue or be paid on Claims and no Holder of a Claim shall be entitled to interest accruing on or after the Petition Date on any Claim or right. Additionally, and without limiting the foregoing, interest shall not accrue or be paid on any Claim or Disputed Claim for the period from and after the Effective Date. Holders of Class 2 Claims are unimpaired and are not entitled to vote to accept or reject this Plan. Class 3 consists of the Holders of Interests in the Debtor, which are the two Members, each of whom hold 50% interest in the Debtor. The Members shall retain their interest in the Reorganized Debtor. The Debtor will fund payments under the Plan from cash on hand on the Effective Date, rental payments by tenants, contributions to the capital of the Debtor by its Members, and sale of the Property. Under the Plan, the Debtor shall continue to seek to effectuate the sale of the Property pursuant to Section 363 of the Bankruptcy Code, free and clear of liens, encumbrances and interests. In addition to marketing the Property for sale as-is, the Debtor will seek a Raze Permit permitting it to demolish all improvements on the Property prior to sale. A full-text copy of the Disclosure Statement dated February 24, 2026 is available at https://urlcurt.com/u?l=xFWjBc from PacerMonitor.com at no charge. Counsel for the Debtor: Frances C. Wilburn, Esq. Augustus T. Curtis, Esq. Offit Kurman, P.A. 7501 Wisconsin Avenue, Suite 1000W Bethesda, MD 20814 Tel: (240) 507-1712 Fax: (240) 507-1735 Email: fwilburn@offitkurman.com About 8th Street NE Partners 8th Street NE Partners LLC is a single-asset real estate firm that owns a connected building spanning 4017, 4021, and 4025 8th Street NE in Washington, D.C. 8th Street NE Partners LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.C. Case No. 25-00299) on July 29, 2025. In its petition, the Debtor reports total assets of $2,669,993 and total liabilities of $100,000. Honorable Bankruptcy Judge Elizabeth L. Gunn handles the case. The Debtor is represented by Augustus T. Curtis, Esq. at OFFIT KURMAN, P.A. A&A GLOBAL: Crescent Capital Marks $594,000 1L Loan at 79% Off -------------------------------------------------------------- Crescent Capital BDC, Inc. has marked its $594,000 loan extended to A&A Global Imports, LLC to market at $127,000 or 21% of the outstanding amount, according to Crescent Capital's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC, Inc. is a participant in a Senior Secured First Lien Revolver loan extended to A&A Global Imports, LLC. The 1L Loan is on non-accrual status. The 1L Loan matures on June 2026. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About A&A Global Imports, LLC A&A Global Imports, LLC is a premiere plastic manufacturer and plastic injection mold manufacturer. A&A Global is a leader in plastic packaging containers. ACTION SIGNATURE: Crescent Capital Marks $288,000 Loan at 88% Off ----------------------------------------------------------------- Crescent Capital BDC, Inc. has marked its $288,000 loan extended to Action Signature Acquisition, Inc. to market at $34,000 or 12% of the outstanding amount, according to Crescent Capital's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC, Inc. is a participant in an Unitranche First Lien Term Loan extended to Action Signature Acquisition, Inc. The 1L Loan is on non-accrual status. The 1L Loan matures on December 2027. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About Action Signature Acquisition, Inc. Action Signature Acquisition, Inc. is focused on printing and converting rollstock, pouches, and bags for food and consumer markets. ACTION SIGNATURE: Crescent Capital Marks $3.8MM 1L Loan at 88% Off ------------------------------------------------------------------ Crescent Capital BDC, Inc. has marked its $3,801,000 loan extended to Action Signature Acquisition, Inc. to market at $453,000 or 12% of the outstanding amount, according to Crescent Capital's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC, Inc. is a participant in an Unitranche First Lien Term Loan extended to Action Signature Acquisition, Inc. The 1L Loan is on non-accrual status. The 1L Loan matures on December 2027. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About Action Signature Acquisition, Inc. Action Signature Acquisition, Inc. is focused on printing and converting rollstock, pouches, and bags for food and consumer markets. ACTION SIGNATURE: Crescent Capital Marks $593,000 Loan at 88% Off ----------------------------------------------------------------- Crescent Capital BDC, Inc. has marked its $593,000 loan extended to Action Signature Acquisition, Inc. to market at $71,000 or 12% of the outstanding amount, according to Crescent Capital's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC, Inc. is a participant in an Unitranche First Lien Term Loan extended to Action Signature Acquisition, Inc. The 1L Loan is on non-accrual status. The 1L Loan matures on December 2027. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About Action Signature Acquisition, Inc. Action Signature Acquisition, Inc. is focused on printing and converting rollstock, pouches, and bags for food and consumer markets. ACTION SIGNATURE: Crescent Capital Marks $984,000 Loan at 88% Off ----------------------------------------------------------------- Crescent Capital BDC, Inc. has marked its $984,000 loan extended to Action Signature Acquisition, Inc. to market at $117,000 or 12% of the outstanding amount, according to Crescent Capital's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC, Inc. is a participant in am Unitranche First Lien Term Loan extended to Action Signature Acquisition, Inc. The 1L Loan is on non-accrual status. The 1L Loan matures on December 2027. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About Action Signature Acquisition, Inc. Action Signature Acquisition, Inc. is focused on printing and converting rollstock, pouches, and bags for food and consumer markets. ADVANTAGE SOLUTIONS: S&P Affirms 'B-' ICR, Outlook Stable --------------------------------------------------------- S&P Global Ratings affirmed its 'B-' issuer credit rating on U.S.-based Advantage Solutions Inc. and removed all of its ratings from CreditWatch, where S&P placed them with negative implications on Feb. 13, 2026. S&P will withdraw its 'B-' ratings on the existing senior secured facilities at transaction close. S&P said, "We assigned our 'B-' issue-level rating to Advantage's proposed senior secured facilities. The recovery rating is '3', indicating our expectation for meaningful (50%-70%; rounded estimate: 60%) recovery for lenders in the event of a payment default. "The stable outlook reflects our expectation that although Advantage's branded services segment will continue to face headwinds from client losses and weaker macroeconomic trends, growth in its experiential segment and stabilization in its retailer segment, together with the wind down of its transformation initiatives, should allow its S&P Global Ratings-adjusted leverage to improve to the low-6x area and EBITDA interest coverage to above 1.5x over the next 12 months." Advantage Solutions Inc. announced it has received greater than 99% participation from its term loan lenders and noteholders to exchange its debt for newly issued super-priority term loan B and senior secured notes. The proposed new debt instruments will include higher interest rates, modestly higher annual amortization, and tighter covenant protections. The transaction will modestly reduce leverage and extend the maturities of the term loan and notes to 2030. The rating action reflects S&P's view that the debt exchange does not constitute a selective default, because the company received participation from more than 99% of existing lenders and adequate compensation was provided. The exchange extends Advantage's term loan B and senior secured notes maturities, originally due October 2027 and November 2028, to April and November 2030, respectively, providing it with financial flexibility for ongoing reorganization efforts and to navigate near-term macroeconomic headwinds. S&P said, "In our view, existing lenders are receiving adequate compensation--in the form of higher interest rates and an exchange at par--in exchange for the maturity extension. Lenders will also receive support fees, tighter terms such as excess cash flow sweep payments, and covenants including debt, lien, investment, restricted payment, and restricted debt payment capacity. Pro forma for the transaction, we estimate gross debt will decrease by approximately $90 million net of payment-in-kind fees paid to lenders who consented prior to the early consent date. "We expect reported free operating cash flow (FOCF) to remain constrained in 2026, improving to roughly $50 million in 2027. The company generated approximately $7 million of FOCF in 2025, weighed down by about $65 million of cash restructuring costs related to its transformation efforts--primarily technology-related investments, the centralization of shared services, and significant noncore divestitures--and working capital outflows, largely reflecting a $37 million payroll timing shift. "Although we forecast transformation expenses will decline to about $35 million in 2026, we expect FOCF will be limited at $10 million-$15 million due to higher cash interest expenses stemming from elevated rates on the exchanged debt (about $20 million higher than in 2025) and one-time transaction costs related to the debt exchange. Additionally, we expect capital expenditure (capex) will remain elevated in 2026 at about $55 million, reflecting the final year of the company's IT-related transformation program, before tapering down to $45 million in 2027. "That said, we expect the company will maintain an adequate liquidity position, supported by an undrawn asset-backed loan (ABL) facility, about $95 million of unrestricted cash pro forma for the debt exchange, and about $28 million of net proceeds from the sale of its equity interest in Advantage Smollan, along with about $27.5 million from the Jun Group sale which the company received in January 2026. "We forecast Advantage's credit metrics will modestly improve, though the company remains vulnerable to client losses and scope reductions, elevated competition, and weak spending trends in the broader consumer market. Advantage reported revenue and EBITDA declines of about 1.5% and 7% in 2025, respectively, compared with 2024. Its higher-margin branded and, to a lesser extent, retail services segments were hindered in 2025 by client budget constraints in a weak consumer spending environment, the in-sourcing of certain services, procurement-driven repricing, and heightened competition. This was partially offset by strong growth in its experiential segment, bolstered by increased event counts and growing demand from existing customers. "We forecast reported revenue will decline 1%-2% in 2026, reflecting the loss of revenue from recent divestitures and continued headwinds in its branded services segment. We expect this will be partially offset by stabilization in its retailer services segment, which experienced some projects being delayed to 2026, and continued growth of its experiential segment. We expect its S&P Global Ratings-adjusted EBITDA will remain relatively flat at about $260 million compared with 2025 despite lower restructuring costs and growth in its experiential segment, which we expect will be offset by lower sales from its branded services segment and the impact of recent divestitures. "Advantage remains exposed to cyclical and structural pressures, but we expect the company to maintain its leading market position within the sales and marketing services industry. In a deep recessionary scenario or a prolonged period of elevated inflation, we believe consumer products companies and retailers could reduce discretionary spending and increase pricing pressure on outsourced service providers such as Advantage. We observed similar behavior across the industry in the period preceding the COVID-19 pandemic, when weaker center-of-store demand led to budget reductions. "More recently, we have seen signs of comparable trends, including reductions in service scope, in-sourcing of certain functions, and contract renegotiations primarily driven by cost considerations--trends that we believe have been exacerbated by elevated senior management turnover at consumer product companies, especially as new executives reassess spending plans amid moderating growth prospects. "We also believe the industry faces potential longer-term exposure to the growth of agentic commerce. Although still nascent, the increasing use of AI agents to autonomously search for, select, and purchase products on behalf of consumers could reduce the relevance of services such as traditional in-store merchandising, planogram optimization, and physical shelf positioning over time. Retailers may therefore place less emphasis on outsourced merchandising services, while consumer packaged goods companies could increasingly use AI-enabled tools to manage their own e-commerce marketing strategies, reducing reliance on third-party providers such as Advantage. While we do not expect a material near-term impact, we believe this could result in structural pressure over time. "The stable outlook reflects our expectation that Advantage's branded services segment will continue to face headwinds from client losses and weaker macroeconomic trends. However, growth in its experiential segment and stabilization in its retailer segment, together with the wind down of its transformation initiatives, should support improvement in S&P Global Ratings-adjusted leverage to the low-6x area and EBITDA interest coverage above 1.5x over the next 12 months. "We could lower the ratings if, in our view, Advantage's capital structure becomes unsustainable, interest coverage falls below 1.5x, and we expect it to sustain FOCF at or below break-even levels." This could occur due to: -- Persistent labor cost inflation that it cannot successfully pass along or otherwise offset; -- An inability to attract and retain staff at sufficient levels to adequately serve its customers; -- A decline in the usage of outsourced sales and marketing agencies by consumer product firms, possibly to save money in the face of significantly higher input costs or reduced consumer spending; -- The loss of multiple customers due to intensifying competition, possibly amid a considerable weakening of center-of-store demand; and -- Significant operational disruptions related to Advantage's technology transformation efforts. While unlikely over the next 12 months, S&P could raise its ratings if Advantage can successfully stabilize its business while sustaining interest coverage above 2x and generating positive reported FOCF. This could occur if the company: -- Meets existing customer demand for its services and wins new business; -- Successfully recovers its higher costs through price increases without damaging existing customer relationships; -- Completes its technology modernization efforts without facing major issues while reducing the level of restructuring costs; or -- Uses excess cash to repay outstanding debt. ADVOCATES FOR OPPORTUNITY: Includes AHCA Unsecured Claim Pay ------------------------------------------------------------ Advocates For Opportunity, Inc., submitted an Amended Disclosure Statement describing Amended Plan of Reorganization dated February 25, 2026. The Debtor provides no services for the diagnosis or treatment but, is a case management service provider, only and coordinates health care services for the client. The office of the Debtor is located at 3521 W. Broward Blvd., Fort Lauderdale, FL 33312. This property is leased. The Florida Agency for Health Care Administration ("AHCA") conducted an audit covering 2021 and as a result, determined in a Final Audit Report, dated November 19, 2024, that the Debtor received overpayments for Medicaid reimbursements, together with fines and costs of audit totaling $201,23.64 (POC-2). AHCA filed its general unsecured claim on June 30, 2025. The Debtor, believing that the claim was lacking in prima facie validity, and therefore objectionable, filed an Objection to AHCA's claim, requesting that the claim be stricken in its entirety as the Audit lacked specificity, was based on statistical exploitation, and improperly include fines and costs. However, the parties have since reached an agreement resolving the Objection. Now, ACHA's general unsecured claim is in the amount of $75,000.00 The original Plan did not include any payments to AHCA and contained one class of creditors: the unsecured class, consisting of two credit card claims, both held by Bank of America. However, the Amended Plan of Reorganization consists of two classes, Class 1 and Class 2. Class 1 remains an unsecured class consisting of the two credit card claims held by Bank of America. One claim is in the amount of $9,688.00 and the second in the amount of $1,199.77, for a total of $10,887.77. These claims will be paid in full over 36 months, in 36 equal monthly payments of $302.44, commencing on the Effective Date of the Plan. This Amended Plan extended the payment plan from 10 months, as proposed in the original Plan, to 36 months. This class is impaired. Class 2 consists of the unsecured claim of ACHA. ACHA's $75,000.00 claim will be paid in full through 36 monthly payments of $2,083.33, which will commence on the Plan's Effective Date. Class 2 is also impaired. Payments and distributions under the Plan will be funded by income received in the ordinary course of business from fees paid to the Debtor by Medicare for services rendered in facilitating and scheduling health care provider services for the Debtor's clients. Accordingly, the Debtor is able to perform all of its obligations under the Plan and the Plan satisfies the requirements or conditions set forth in Section 1129(a)(11) of the Code. A full-text copy of the Amended Disclosure Statement dated February 25, 2026 is available at https://urlcurt.com/u?l=Qrq7D3 from PacerMonitor.com at no charge. Counsel to the Debtor: Chad T. Van Horn, Esq. Van Horn Law Group, P.A. 500 NE 4th Street, Suite 200, Fort Lauderdale, FL 33301 Tel: (954) 765-3166 Email: chad@cvhlawgroup.com About Advocates For Opportunity Advocates For Opportunity, Inc., is a case management support coordination company specializing in developmental disabilities. The Debtor filed a Chapter 11 bankruptcy petition (Bankr. S.D. Fla. Case No. 12-13019) on Feb. 7, 2012, disclosing under $1 million in both assets and liabilities. The Debtor is represented by Chad T. Van Horn, Esq. AFFORDABLE IRRIGATION: Plan Exclusivity Period Extended to March 26 ------------------------------------------------------------------- Judge Jeffery A. Deller of the U.S. Bankruptcy Court for the Western District of Pennsylvania extended Affordable Irrigation, Inc.'s exclusive period to file a Chapter 11 Small Business Plan of Reorganization to March 26, 2026. In a court filing, the Debtor's business is seasonal and is still currently procuring work for the pending spring and summer. The Debtor will have a better idea after one additional month to get into its profitable season and will know if Plan feasibility is possible. The Debtor explains that barring completely unforeseen circumstances or emergency, the company will not request any additional time to file a Plan and Disclosure Statement after this extension. To the best of counsel's knowledge, the Debtor has met and continues to meet all operating requirements of a Chapter 11 Debtor including the filing of monthly operating reports and payment of US Trustee fees. The Debtor believes that no parties will be harmed or prejudiced by the extension of the exclusivity period to file a Chapter 11 Plan. There are no pending motions for relief, dismissal requests, or any other litigation happening in the case at this time that would impact the ability to reorganize. Affordable Irrigation, Inc. is represented by: Christopher M. Frye, Esq. Steidl & Steinberg, P.C. Koppers Building, Suite 322 436 Seventh Avenue Pittsburgh, PA 15219 Telephone: (412) 391-8000 Email: chris.frye@steidl-steinberg.com About Affordable Irrigation Affordable Irrigation, Inc., sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Pa Case No. 25-22261) on Aug. 28, 2025, listing up to $50,000 in assets and $100,001 to $500,000 in liabilities. Christopher M. Frye, at Steidl & Steinberg, P.C., is the Debtor's counsel. AM ROOFING: Gets Interim OK to Use Cash Collateral -------------------------------------------------- AM Roofing and Siding, LLC received interim approval from the U.S. Bankruptcy Court for the Southern District of Ohio, Eastern Division, to use cash collateral. Under the interim order, the Debtor is authorized to use cash collateral to pay court-approved expenses and operating costs consistent with the approved budget, with up to a 10% variance per line item). The order also permits payment of a monthly salary of $18,000 to Aaron Maddux, subject to availability of funds after payment of operating expenses. The Debtor projects total operational expenses of $53,335 for March and $58,185 for April. As adequate protection, secured creditors will receive post-petition replacement liens, maintaining the same extent, validity, and priority as their prepetition security interests. The Debtor retains the right to challenge the amount, validity, or priority of creditor liens. Under the order, dismissal or conversion of the Debtor's Chapter 11 case to Chapter 7, and the appointment of a trustee constitute defaults and automatically terminate the debtor's authority to use cash collateral. A final hearing will be held on April 9. Objections are due by April 2. The order is available at https://is.gd/Rd5xlU from PacerMonitor.com. About AM Roofing and Siding LLC AM Roofing and Siding, LLC is a construction services company engaged in roofing and exterior siding work. AM Roofing and Siding sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-50317) on January 22, 2026. In its petition, the Debtor listed between $100,001 and $500,000 in assets and between $500,001 and $1 million in liabilities. Honorable Bankruptcy Judge Mina Nami Khorrami handles the case. The Debtor is represented by Steven J. Heimberger, Esq., at Roderick Linton Belfance, LLP. AMC NETWORKS: Secures 95% Participation in Notes Exchange Offer --------------------------------------------------------------- AMC Networks Inc. announced the early participation and consent results in connection with its previously announced: (i) exchange offer to Eligible Holders to exchange any and all of its outstanding 10.25% Senior Secured Notes due 2029 for its newly-issued 10.50% Senior Secured Notes due 2032, and (ii) the solicitation of consents from holders of the Old Notes with respect to the amendment to the indenture governing the Old Notes, on the terms and subject to the conditions set forth in a Confidential Offering Memorandum and Consent Solicitation Statement, dated as of February 23, 2026. The Company has been advised that as of 5:00 p.m., New York City time, on March 6, 2026, approximately $830.6 million aggregate principal amount of outstanding Old Notes, representing approximately 95% of the outstanding Old Notes (other than Old Notes beneficially owned by the Company or its affiliates), had been validly tendered (and not validly withdrawn) pursuant to the Exchange Offer, and the corresponding Consents from holders of those Old Notes were delivered (and not validly revoked) pursuant to the Consent Solicitation. The Company has also been advised that as of 5:00 p.m., New York City time, on March 6, 2026, holders of approximately $9.9 million aggregate principal amount of outstanding Old Notes delivered (and did not validly revoke) their Consents without tendering Old Notes. Consents from holders of at least a majority in aggregate principal amount of outstanding Old Notes (other than Old Notes beneficially owned by the Company or its affiliates) voting as a single class must be delivered and not validly revoked to adopt the Proposed Amendment. Accordingly, as of the Early Tender Time, the Requisite Notes Consents have been delivered. The Company and the guarantors of the Old Notes expect to enter into a Supplemental Indenture to the Old Notes Indenture providing for the Proposed Amendment on March 9, 2026. The Proposed Amendment will amend the covenant that limits restricted payments in order to permit buybacks, purchases, redemptions, retirements or other acquisitions of AMC Networks Inc.'s equity interests in an aggregate amount not to exceed $50,000,000. The Supplemental Indenture will be effective immediately upon execution thereof, but the Proposed Amendment will not be operative until the time when all of the Old Notes that have been validly tendered (and not validly withdrawn) prior to the Early Tender Time have been accepted for exchange in accordance with the terms of the Offering Memorandum. The Company expects settlement of the Old Notes validly tendered (and not validly withdrawn) by the Early Tender Time to occur on March 13, 2026. Withdrawal rights for the Exchange Offer expired at 5:00 p.m., New York City time, on March 6, 2026, and, accordingly, Old Notes validly tendered in the Exchange Offer may no longer be withdrawn. In addition, the deadline for holders to deliver their Consents pursuant to the Consent Only Option expired at 5:00 p.m., New York City time, on March 6, 2026. Consents delivered in accordance with the Consent Only Option may be validly revoked at any time at or prior to the time and date on which the Supplemental Indenture is executed and may not be validly revoked at any time after the Consent Time. Holders of Old Notes who validly delivered their Consents pursuant to the Consent Only Option will not receive any consideration for delivering their Consents. Eligible Holders of the Old Notes who validly tendered (and did not validly withdraw) their Old Notes prior to the Early Tender Time will be entitled to receive the total consideration of $1,065 in aggregate principal amount of New Notes per $1,000 principal amount of Old Notes tendered, as described in the Offering Memorandum. Eligible Holders who have not yet tendered or have validly withdrawn their Old Notes have until 5:00 P.M., New York City time, on March 23, 2026, unless extended by the Company to tender their Old Notes pursuant to the Exchange Offer. Eligible Holders of the Old Notes who validly tender (and do not validly withdraw) their Old Notes after the Early Tender Time but at or prior to the Expiration Time will be entitled to receive exchange consideration of $1,015 in aggregate principal amount of New Notes per $1,000 principal amount of Old Notes tendered, as described in the Offering Memorandum. Such exchanges will be settled promptly by the Company after the Expiration Time, which is expected to occur on March 25, 2026, assuming the conditions to the Exchange Offer have either been satisfied or waived by the Company at or prior to the Expiration Time. In addition, the aggregate Total Consideration or aggregate Exchange Consideration, as applicable, will be reduced by an amount equal to the result of (x) the aggregate amount of accrued and unpaid interest due on the New Notes to be issued to Eligible Holders from and including the last interest payment date for the Original 2032 Notes (as defined below) to but not including the applicable Settlement Date (the "New Notes Accrued Interest") less (y) the aggregate amount of accrued and unpaid interest due on the Old Notes validly tendered and accepted by us from and including the last interest payment date for such Old Notes to but not including the applicable Settlement Date (the "Old Notes Accrued Interest" and the difference between the New Notes Accrued Interest and the Old Notes Accrued Interest, the "Net Interest Deduction"). No accrued interest will be paid on Old Notes that are tendered and accepted. Holders who validly tender their Old Notes after the Early Tender Time will be deemed to consent to the Amendment, and holders may not deliver Consents to the Amendment without validly tendering their Old Notes in the Exchange Offer. The New Notes will be a further issuance of, and will be in addition to, the 10.50% Senior Secured Notes due 2032 that the Company issued on July 3, 2025 in the aggregate principal amount of $400 million. The New Notes will be fungible with the Original 2032 Notes and trade under the same CUSIP numbers as the Original 2032 Notes (except that New Notes issued pursuant to Regulation S will trade separately under a different CUSIP number until at least 40 days after the closing date and thereafter, subject to the terms of the Indenture and the applicable procedures of the depositary). The Exchange Offer and Consent Solicitation, including the Company's acceptance of validly tendered Old Notes and payment of the applicable consideration, is conditioned on the satisfaction or waiver of certain conditions, as described in the Offering Memorandum. The Company may terminate, withdraw, amend or extend the Exchange Offer and/or Consent Solicitation in its sole discretion, subject to certain exceptions. The Exchange Offer is being made, and the New Notes are being offered and issued, only to holders of Old Notes who are reasonably believed to be (i) "qualified institutional buyers" as defined in Rule 144A under the Securities Act of 1933, as amended or (ii) not U.S. persons (as defined in Regulation S under the Securities Act) or purchasing for the account or benefit of U.S. persons, other than a distributor, and are purchasing the New Notes in an offshore transaction in accordance with Regulation S. The holders of Old Notes who are eligible to participate in the Exchange Offer pursuant to the foregoing conditions are referred to as "Eligible Holders." Only Eligible Holders are authorized to receive or review the Offering Memorandum or to participate in the Exchange Offer and Consent Solicitation. J.P. Morgan Securities LLC is acting as lead dealer manager and solicitation agent and Citigroup Global Markets Inc., Fifth Third Securities, Inc., Morgan Stanley & Co. LLC, Truist Securities, Inc. and U.S. Bancorp Investments, Inc. are acting as co-dealer managers and solicitation agents. The Offering Memorandum will be distributed only to holders of Old Notes that complete and return a letter of eligibility confirming that they are Eligible Holders. Copies of the eligibility letter are available to holders through the information and exchange agent for the Exchange Offer and Consent Solicitation, D.F. King & Co. Inc., at (800) 967-7510 (U.S. toll-free) or (646) 989-1649 (Banks and Brokers) or amcx@dfking.com. The Exchange Offer and Consent Solicitation is made only by, and pursuant to the terms of, the Offering Memorandum, and the information in this news release is qualified by reference thereto. This press release shall not constitute an offer to sell or the solicitation of an offer to exchange or purchase the New Notes, nor shall there be any offer or exchange of New Notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. In addition, this press release is neither an offer to exchange or purchase nor a solicitation of an offer to sell any Old Notes in the Exchange Offer or a solicitation of consents to the Amendment, and this press release does not constitute a notice of redemption with respect to any securities. The New Notes have not been and will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Accordingly, the New Notes are being offered for exchange only to persons reasonably believed to be (i) "qualified institutional buyers" (as defined in Rule 144A under the Securities Act) or (ii) not U.S. persons (as defined in Regulation S under the Securities Act) or purchasing for the account or benefit of U.S. persons, other than a distributor, and are purchasing the New Notes in an offshore transaction in accordance with Regulation S. About AMC Networks AMC Networks (Nasdaq: AMCX) is home to many of the greatest stories and characters in TV and film and the premier destination for passionate and engaged fan communities around the world. The Company creates and curates celebrated series and films across distinct brands and makes them available to audiences everywhere. Its portfolio includes targeted streaming services AMC+, Acorn TV, Shudder, Sundance Now, ALLBLK, HIDIVE and All Reality; cable networks AMC, BBC AMERICA (which includes U.S. distribution and sales responsibilities for BBC News), IFC, SundanceTV and We TV; and film distribution labels Independent Film Company and RLJE Films. The Company also operates AMC Studios, its in-house studio, production and distribution operation behind acclaimed and fan-favorite original franchises including The Walking Dead Universe and the Anne Rice Immortal Universe; and AMC Networks International, its international programming business. AMERICAN POWER: Case Summary & 19 Unsecured Creditors ----------------------------------------------------- Debtor: American Power Equipment, LLC f/k/a American Rental & Equipment, LLC 5480 Willis Road Theodore, AL 36582 Business Description: American Power Equipment, LLC operates as a retailer and service provider of outdoor power equipment based in Theodore, Alabama. The company sells, rents, and services equipment such as lawn mowers, chainsaws, trailers, and utility vehicles, and provides parts and repair services to residential and commercial customers. Chapter 11 Petition Date: February 26, 2026 Court: United States Bankruptcy Court Southern District of Alabama Case No.: 26-10544 Judge: Hon. Henry A Callaway Debtor's Counsel: Alexandra K Garrett, Esq. SILVER VOIT GARRETT & WATKINS 23210 Highway 98, Suite B2 Fairhope, AL 36532 Tel: (251) 343-0800 E-mail: agarrett@silvervoit.com Total Assets: $1,991,333 Total Liabilities: $4,433,181 The petition was signed by Jason T. Palmer as president. A full-text copy of the petition, which includes a list of the Debtor's 19 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/NWNGMSI/American_Power_Equipment_LLC__alsbke-26-10544__0001.0.pdf?mcid=tGE4TAMA ANDERSON HAY: Taps KBC Advisors Services LLC as Real Estate Broker ------------------------------------------------------------------ Anderson Hay Enterprise, Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of Washington to employ KBC Advisors Services, LLC as real estate broker. The firm will provide real estate advisory, marketing, and brokerage services related to certain properties owned by MTA Holdings. KBC will provide real estate advisory, marketing, and brokerage services for its property, an industrial facility commonly known as 23283 and 23261 Hubbard Cutoff Road, Aurora, Oregon, and taxed under Marion County, Oregon, Tax Parcel Nos. 510235, 330452, 510234, and 510229. MTA Holdings will compensate KBC with a commission equal to 3.5% of the purchase price. As disclosed in the court filings, KBC Estate is a "disinterested person" as that phrase is defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Mandy Mota KBC Advisors Services, LLC 5628 Airport Way S, Suites 238 & 290 Seattle, WA 98108 Office Number: (206) 741-1030 Email: Mandy.Mota@kbcadvisors.com About Anderson Hay Enterprise, Inc. Anderson Hay Enterprise, Inc., together with its subsidiaries, supplies Pacific Northwest-grown forage products, including three-tie hay, bagged forage, compressed hay, and MAG bales, serving both consumer and commercial markets such as horse owners, small-acreage farms, retailers, and agricultural operations. The Company operates domestically and internationally, distributing hay to partners in more than 30 countries. Founded in 1960 and family-led since its inception, it focuses on producing consistent forage and maintaining long-term relationships across its supply chain. The Debtors sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Lead Case No. 25-02074) on November 26, 2025. In the petition signed by Steve Gordon, CFO, the Debtor disclosed up to $50 million in assets and up to $100 million in liabilities. Judge Whitman L. Holt oversees the case. James L. Day, Esq., at Bush Kornfeld LLP, represents the Debtor as legal counsel. ANOINTED TOUCH: Andrew Kight Named Subchapter V Trustee ------------------------------------------------------- The Acting U.S. Trustee for Region 10 appointed Andrew Kight as Subchapter V trustee for Anointed Touch Residential Services, LLC. Mr. Kight will be paid an hourly fee of $375 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Kight declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Andrew T. Kight 108 E. 9th Street Indianapolis, IN 46202 317-608-1130 trusteekight@jhklegal.com About Anointed Touch Residential Services Anointed Touch Residential Services, LLC is a home care services provider based in Indianapolis that offers non-medical personal care and residential support services to clients in a home setting, including assistance with daily living activities and companionship, operating within the health care and social assistance sector. Anointed Touch Residential Services sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ind. Case No. 26-00922) on February 24, 2026. In the petition signed by Ayries Nachelle Bledsoe, sole member, the Debtor disclosed up to $500,000 in assets and up to $10 million in liabilities. Judge James M. Carr oversees the case. Jacob Troxell, Esq., at Allen Wellman Harvey Keyes Cooley, LLP, represents the Debtor as legal counsel. APOGEE BREWING: Unsecureds to Get Share of Remaining Funds ---------------------------------------------------------- Apogee Brewing, a Texas Limited Liability Company d/b/a True Anomaly, filed with the U.S. Bankruptcy Court for the Southern District of Texas a Combined Plan of Reorganization and Disclosure Statement dated February 23, 2026. The Debtor was address is 2012 Dallas St, Houston, Texas 77003. The Debtor operates a craft brewery, beer hall and beverage preparation, brewing, packing and distribution business between two different locations. The Debtor owns a 63,670 SF, 1.46-acre, property with two buildings, one currently used for product production and the other currently under construction as a future tap room, located at 4001 Navigation Boulevard, Houston, Texas 77003 (the "Property"). The Debtor also leases space at 2012 Dallas St., Houston, Texas 7703 (the "Leased Space"), where the Debtor's sole tap room is located. Ultimately, due to insufficient cash flow, high interest expense, delays in permitting from the City of Houston, the expense of new tariffs, lack of construction resources, and other factors outside of the Debtor's control, the Debtor was forced to file for Chapter 11 Bankruptcy on August 4, 2025. Currently, the Debtor's sole sources of funds are the operation of the tap room at leased space and sale of its product through distribution channels. Tap room revenue since August 4, 2025, has averaged $38,087.26 per month, and distribution revenue has averaged $15,115.15 per month. The Debtor has been operating in a cash flow positive manner since the filing of its bankruptcy petition. The Debtor's assets consist of the Property, the Business, and any consumable beer that has not been sold. Debtor intends to assign the Property and its fixtures to Stellar Bank pursuant to Section 1123(a)(5) and 1129(b)(2)(A)(iii) of the Bankruptcy Code in full satisfaction of Stellar secured claims. Debtor will also sell certain Business assets to another interested brewery, pursuant to Section 363 of the Bankruptcy Code. Portions of the sale proceeds shall be treated as free and clear of liens pursuant to Section 363(f)(4) of the Bankruptcy Code. Debtor will continue to sell the consumable beer to its customers and consumers at its Leased Space, until the lease terminates. Upon sale of the aforementioned Business assets the funds will be distributed in accordance with this Plan and the Bankruptcy Code payment distribution schema set forth in, inter alia, section 1129 of the Code. Class 7 consists of Allowed General Unsecured Claims and the under-secured claims of Stellar Bank and all other lien creditors. The Class 7 claimants shall be paid their pro rata amount of the funds remaining in the Debtor's bank account after the sale of the Business (the Remaining Funds). The pro rata amount to be paid to each claimant is a fraction of the Remaining Funds, the numerator of which is the allowed claim of each Class 7 claimant and the denominator of which is the sum of the allowed claims of all Class 7 claimants. This Class is impaired. Class 8 consists of Allowed General Unsecured Claims of Insiders. The Claim Holder shall retain their interests in the Debtor, as the Reorganized Debtor, subject to and remaining after the payment of all administrative expenses claims and US Trustee Fees, and the satisfaction of all claims in Classes 1 through 7. This Class is impaired. The source of funding in the Plan for the payment of all claims shall be the revenue generated from the sale of the Business and any remaining assets to affect the Closing, to pay allowed claims, and to compensate Debtor's counsel to the extent of its allowed fees. A full-text copy of the Combined Plan and Disclosure Statement dated February 23, 2026 is available at https://urlcurt.com/u?l=vHs9xk from PacerMonitor.com at no charge. Attorneys for the Debtor: Stacey Barnes, Esq. Vikesh N. Patel, Esq. Kearney, McWilliams & Davis, PLLC 55 Waugh Drive, Suite 150 Houston, TX 77007 Telephone: (888) 341-0997 Facsimile: (832) 916-2751 Email: sbarnes@kmd.law About Apogee Brewing, LLC Apogee Brewing, LLC operates a craft brewery and taproom in Houston, Texas. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-34497) on August 4, 2025. In the petition signed by Michael Duckworth, manager, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Eduardo V. Rodriguez oversees the case. Stacey Barnes, Esq., at Kearney, McWilliams & Davis, PLLC, represents the Debtor as legal counsel. APPLIANCE PRO: Seeks to Tap J.B. Merritt & Associates as Accountant ------------------------------------------------------------------- Appliance Pro, LLC seeks approval from the U.S. Bankruptcy Court for the District of South Carolina to hire J.B. Merritt & Associates, LLC to serve as its accountant. The firm will provide these services: (a) complete all necessary bookkeeping for the Debtor; (b) prepare all required tax filings for the Debtor; and (c) provide other accounting services necessary in connection with this Chapter 11 case, excluding work related to preparation of the Debtor's Plan of Reorganization. The Debtor has agreed to pay Merritt a monthly flat fee of $250 and $800 for preparation of the Debtor's 2025 tax filings. Merritt will also seek reimbursement for actual, necessary expenses in accordance with its normal rates. J.B. Merritt & Associates, LLC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: J.B. Merritt & Associates, LLC 220 Swartz Road Lexington, SC 29072 Telephone: 803-359-1041 About Appliance Pro LLC Appliance Pro, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D.S.C. Case No. 26-00132) on January 12, 2026, with $50,001 to $100,000 in assets and $500,001 to $1 million in liabilities. Judge Elisabetta Gm Gasparini presides over the case. William Harrison Penn, Esq., at Penn Law Firm, LLC represents the Debtor as bankruptcy counsel. ARMADILLO PIZZA: Chris Quinn Named Subchapter V Trustee ------------------------------------------------------- The U.S. Trustee for Region 7 appointed Chris Quinn as Subchapter V trustee for Armadillo Pizza, LLC. Mr. Quinn will be paid an hourly fee of $425 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Quinn declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Chris Quinn 26414 Cottage Cypress Lane Cypress, TX 77433 Phone: 713-498-8500 Email: chris.quinn2021@outlook.com About Armadillo Pizza LLC Armadillo Pizza, LLC, doing business as Crust Pizza Co., owns and operates a restaurant at 4625 Kingwood Drive in Kingwood, Texas, serving Chicago-style thin-crust pizzas, pasta, salads, and other Italian-inspired menu items. The restaurant is part of the Crust Pizza Co. franchise system and operates in the casual dining and fast-casual restaurant industry. Armadillo Pizza filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Texas Case No. 26-31060) on February 18, 2026, listing assets of between $100,001 and $500,000 and liabilities of between $1 million and $10 million. Judge Jeffrey P. Norman oversees the case. Kean Miller, LLP serves as the Debtors' legal counsel. ARMORED IMPACT: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------------- Debtor: Armored Impact Windows & Doors, Inc. 2385 NW Exec Ctr Drive Boca Raton, FL 33431 Business Description: Armored Impact Windows & Doors, Inc. manufactures and installs impact-rated windows and doors for residential and commercial properties in South Florida. The company provides products and services including impact doors, replacement doors, impact windows, replacement windows, residential and high-rise installations, condominium solutions, HOA and property manager coordination, and permitting and approval processing across Boca Raton, Broward, Palm Beach, Martin, and St. Lucie Counties. It operates in the building products manufacturing and construction services industry, focusing on hurricane-resistant and code-compliant window and door systems. Chapter 11 Petition Date: March 3, 2026 Court: United States Bankruptcy Court Southern District of Florida Case No.: 26-12660 Debtor's Counsel: Thomas Zeichman, Esq. ZEICHMAN LAW 2385 NW Executive Center Drive Suite 300 Boca Raton, FL 33431 Tel: (561) 704-4624 Email: tom@zeichmanlaw.com Total Assets: $10,000 Total Liabilities: $1,163,237 The petition was signed by Leonardo Rivas 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/Z3D2MWQ/ARMORED_IMPACT_WINDOWS__DOORS__flsbke-26-12660__0001.0.pdf?mcid=tGE4TAMA ART LENDING: Collateral Public Auction Scheduled for March 12 ------------------------------------------------------------- In accordance with applicable provisions of the Uniform Commercial Code as enacted in Nevada, Allied Affiliated Funding, a Division of Axiom Bank, N.A. (the "Agent") under that certain (i) that certain Loan and Security Agreement with Art Lending, Inc. (the "Grantor"), dated as of June 18, 2021, as amended by that certain First Amendment to Loan and Security Agreement, dated as of October 3, 2022, as further amended by that certain Limited Waiver and Second Amendment to Loan and Security Agreement, dated as of July 3, 2024 (as the same may be further amended, restated, amended and restated, supplemented or otherwise modified from time to time, the "Loan Agreement"), will offer for sale, at public auction, certain Collateral pledged to it by the Grantor. The public auction (the "Auction") will be held by Mannion Auctions, LLC, as auctioneer for the Agent for the benefit of itself and the Lenders (the "Auctioneer"), and held virtually at 2:00 p.m. (Prevailing Eastern Time) on March 12, 2026 (the "Auction Date") and towards that end, the Agent is now soliciting opening bids from qualified bidders which must be submitted on or before 12:00 noon (Prevailing Eastern Time) on March 10, 2026 (the "Bid Deadline"). The Collateral will be sold to the to the highest qualified bidder at the Auction; provided, however, that Lender reserves the right to cancel the Auction in its entirety, or to adjourn the Auction to a future date. The Collateral will be sold in six (6) lots, and there is no warranty or representations relating to title, possession, quiet enjoyment, merchantability, fitness, or the like inthis disposition. The Agent for the benefit of itself and the Lenders reserves the right for itself and any assignee to bid (whether by cash and/or crediting some or all of the secured obligations) and to become the purchaser at the sale. Parties interested in bidding on the Collateral must contact the Auctioneer, Mannion Auctions, LLC, Attn: Matthew D. Mannion, 299 Broadway, Suite 1601, New York, NY 10007, Tel.: (212) 267-6698, mdmannion@jpandr.com. The Terms of Sale, bidding instructions and additional documentation will be available by contacting the Auctioneer. Interested parties who do not contact the Auctioneer prior to the sale and submit an opening bid and required deposit on or before the Bid Deadline will not be permitted to bid at the auction. The Collateral to be sold consists of six separate notes each of which is secured by various artworks, including Borrower's title and interest in the following, as well all supporting obligations related thereto, including without limitation all guaranties, letters of credit, letter-of- credit rights, indemnities, security agreements, mortgages, deeds of trust, pledges, assignments, subordination agreements, intercreditor agreements, collateral agency or participation agreements, and any other collateral documents or credit support securing or supporting such Notes or any obligations of the underlying obligors as well as any proceeds or offsprings thereof: (1) The Secured Grid Promissory Note dated as of November 2, 2020 by and between The Art Guarantee Fund, LLC as borrower and AF Funding (VIII) LLC as lender in the original principal sum of the lesser of (A) Two Million Two Hundred Fifty Thousand Dollars ($2,250,000.00) or (B) the principal amount of the loan. This note is secured by Monumental Marble Vase by Paul Howard Manship; (2) The Secured Grid Promissory Note dated as of June 26, 2019 by and between Art Investment Fund (VIII) LLC as borrower and Art Finance Funding (VI) LLC as well as any successors and participants dated as of June 26, 2019 in the original principal amount of the lesser of (A) One Million Dollars ($1,000,000.00) or (B) or the principal amount of the loans, as amended from time to time. This note is secured by In the Teton Range by Thomas Moran; (3) The Secured Grid Promissory Note dated as of August 2017 by and between Madison Avenue, LLC as borrower and Art Finance Funding (VI) LLC as well as any successors and participants as lender in the original principal amount of the lesser of (A) One Million Five Hundred Thousand Dollars ($1,500,000.00) or (B) the principal amount of the loan. This note is secured by Oval Form by Barbara Hepworth; (4) The Secured Grid Promissory Note dated as of October 31, 2019 by and between Procacini S.L. and Florencio Nicolas Cortes Barrios jointly and severally as borrowers and AF Funding (VIII) LLC as well as any successors and participants as lender in the original principal amount of the lesser of (A) Five Million Dollars ($5,000,000.00) or (B) the principal amount of the loan. This note is secured by Jonquils I by Georgia O'Keeffe; (5) The Secured Grid Promissory Noted dated as of April 30, 2021 by and between Carlton C. Rochell, Jr. as borrower and Art Finance Funding (VI), LLC as well as its assignees and participants as lender in the original principal amount of the lesser of (A) Two Million Five Hundred Thousand Dollars ($2,500,000.00) or (B) the principal amount of the loan. This note is secured by Saint Lois of France by Juan de Mesa; and (6) The Secured Grid Promissory Noted dated as of December 23, 2020 by and between W&P Galleries, Inc. as borrower and Art Funding (X), LLC as well as its assignees and participants as lender in the original principal amount of the lesser of (A) Six Million Five Hundred Thousand Dollars ($6,500,000.00) or (B) the principal amount of the loan. This note is secured by various Himalayan Antiquities. Bids may be submitted either on a single Note or all the Notes. More information on each of Notes and artworks securing each of the Notes can be obtained by contacting the Auctioneer prior to the Bid Deadline. ASOCIACIÓN HOSPITAL: Gets Extension to Use BPPR's Cash Collateral ------------------------------------------------------------------ The U.S. Bankruptcy Court for the District of Puerto Rico granted the sixth extension of the stipulation between Asociacion Hospital Del Maestro, Inc. and Banco Popular de Puerto Rico to use the secured creditor's cash collateral. The order extended the stipulation from February 20 to March 20 and authorized the Debtor to use $170,545 in cash collateral to pay the expenses set forth in its operating budget, subject to a 10% variance. During this period, the Debtor will make a $50,000 payment to Banco Popular de Puerto Rico as protection. The order is available at https://is.gd/AX9GBP from PacerMonitor.com. About Asociacion Hospital Del Maestro Inc. Asociacion Hospital Del Maestro Inc., also known as Hospital El Maestro, is a nonprofit general medical and surgical hospital located in San Juan, Puerto Rico, that was founded in 1955 to serve the teaching community and has since expanded to provide services to the broader population. The hospital operates about 126 staffed beds and offers emergency care, intensive care, radiology, surgery, hemodialysis, and a range of medical specialties for children and adults. It is accredited by the Joint Commission and functions as a 501(c)(3) organization with a focus on healthcare, education, and community service. Asociacion Hospital Del Maestro Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.P.R. Case No. 25-03780) on August 25, 2025. In its petition, the Debtor reports total assets of $13,396,955 and total liabilities of $39,669,466. Judge Enrique S. Lamoutte Inclan handles the case. The Debtor tapped Wigberto Lugo Mender, Esq., at Lugo Mender Group, LLC as legal counsel; CPA Luis R. Carrasquillo & Co., P.S.C. as financial consultant; and IEC Consulting, LLC as investment consultant. Banco Popular de Puerto Rico, as secured creditor, is represented by Luis C. Marini-Biaggi, Esq. and Carolina Velaz-Rivero, Esq. at Marini Pietrantoni Muniz, LLC. AVALIGN TECHNOLOGIES: Crescent Marks $835,000 1L Loan at 17% Off ---------------------------------------------------------------- Crescent Capital BDC, Inc. has marked its $835,000 loan extended to Avalign Technologies, Inc. to market at $689,000 or 83% of the outstanding amount, according to Crescent Capital's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC, Inc. is a participant in an Unitranche First Lien Revolver loan extended to Avalign Technologies, Inc. The 1L Loan accrues interest at a rate of S + 650 (75 Floor), 10.22% per annum. The 1L Loan matures on December 2028. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About Avalign Technologies, Inc. Avalign Technologies, Inc. designs and manufactures metal and thermoformed medical instrument cases and trays with innovative versatility, short lead times, and on-time delivery. B&BC ESTATES: Seeks to Hire Hudson RE LLC as Real Estate Broker --------------------------------------------------------------- B&BC Estates LLC seeks approval from the U.S. Bankruptcy Court for the U.S. Bankruptcy Court for the District of New Jersey to hire Jason Gerbsman of Hudson RE, LLC as realtor. Mr. Gerbsman will market for sale the Debtor's property located at 246-246 Pegasus Avenue, Northvale NJ 07647. Mr. Gerbsman will receive a commission equal to 2% of the total sales. Mr. Gerbsman assured the court that he is a disinterested person under 11 U.S.C. Sec. 101(14). Mr. Gerbsman can be reached at: Jason Gerbsman Hudson RE, LLC 500 N Rainbow Blvd Las Vegas, NV 89107 Tel: (702) 871-9339 Fax: (702) 871-9330 About B&BC Estates LLC B&BC Estates LLC is a real estate holding company engaged in property ownership and management activities. B&BC Estates LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-11838) on February 19, 2026. In its petition, the Debtor reports estimated assets between $100,001 and $1,000,000 and estimated liabilities between $1 million and $10 million. The Debtor is represented by Leonard S. Singer, Esq., of Zazella & Singer, Esqs. B&BC ESTATES: Seeks to Hire Zazella & Singer as Bankruptcy Counsel ------------------------------------------------------------------ B&BC Estates LLC seeks approval from the U.S. Bankruptcy Court for the U.S. Bankruptcy Court for the District of New Jersey to hire Zazella & Singer, Esqs., as attorney to the Debtor. C & A Dental requires Zazella & Singer to: (a) advice the Debtor with respect to its powers and duties, rights and obligations as Debtor-in-Possession in the continued management of her property; (b) meet with creditors of the Debtor in negotiating a Plan of Reorganization and to take the necessary legal steps in order to confirm said Plan; (c) prepare on behalf of Applicant, as Debtor-in-Possession, necessary applications, Answers, orders, reports and other legal documents in connection with the reorganization; (d) appear before the Bankruptcy Judge and to protect the interests of Applicant before said Bankruptcy Judge, and to represent Applicant in all matters pending before said Bankruptcy Judge; (e) perform all other legal services for Applicant, as Debtor-in-Possession, which may be necessary; (f) prepare for the Debtor all necessary motions, pleadings, orders, notices, petitions, schedules, and other documents, and review all financial and other reports to be filed in the Debtor' Chapter 11 cases; (g) advise and counsel the Debtor, and participate in negotiations with creditors in the preparation of a plan of reorganization; and (i) perform all other legal services for and on behalf of the Debtor which may be necessary or appropriate in the administration of their Chapter 11 case. Zazella & Singer will be paid at the hourly rate of $425. The firm received a retainer in the amount of $15,000. Zazella & Singer will also be reimbursed for reasonable out-of-pocket expenses incurred. Leonard Singer, partner of Zazella & Singer, Esqs., assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. Zazella & Singer can be reached at: Leonard Singer, Esq. ZAZELLA & SINGER, ESQS. 36 Mountain View Boulevard Wayne, NJ 07470 Tel: (973) 696-1700 Fax: (973) 696-3228 About B&BC Estates LLC B&BC Estates LLC is a real estate holding company engaged in property ownership and management activities. B&BC Estates LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-11838) on February 19, 2026. In its petition, the Debtor reports estimated assets between $100,001 and $1,000,000 and estimated liabilities between $1 million and $10 million. The Debtor is represented by Leonard S. Singer, Esq., of Zazella & Singer, Esqs. BARSTOW MANAGEMENT: Voluntary Chapter 11 Case Summary ----------------------------------------------------- Debtor: Barstow Management LLC 3302 Pluto Dallas, TX 75212 Business Description: Barstow Management LLC provides real estate management and property-related services in Dallas, Texas, and is associated with residential property ownership and transactions connected to the Robinson Family Real Estate Holdings group. Chapter 11 Petition Date: March 2, 2026 Court: United States Bankruptcy Court Northern District of Texas Case No.: 26-40952 Judge: Hon. Edward L Morris Debtor's Counsel: Joyce Lindauer, Esq. JOYCE W. LINDAUER ATTORNEY, PLLC 117 S. Dallas St. Ennis TX 75119 Tel: (972) 503-4033 Email: joyce@joycelindauer.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $500,000 to $1 million The petition was signed by Michael Robinson as owner. The Debtor filed a list of its 20 largest unsecured creditors, but all entries were left blank. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/6ATLT6Y/Barstow_Management_LLC__txnbke-26-40952__0001.0.pdf?mcid=tGE4TAMA BEELAND PROPERTIES: Liq Agent Taps Richard A. Richardson as Counsel ------------------------------------------------------------------- Dwayne Murray, liquidation agent of Beeland Properties LLC, seeks approval from the U.S. Bankruptcy Court for the Middle District of Louisiana to hire the Law Office of Richard A. Richardson, LLC, as attorney. Mr. Murray will require the services of an attorney to perform certain legal services for the trustee relative to mediation, negotiation, trial, intervention of the estate's interest in pending litigation. The firm will represent the Debtor in these estate claims and cause of action in: a. Beeland Properties, LLC v. TDP Group, LLC et al, 24-01030 (Bankr. M.D. La.); b. Beeland Properties, LLC v. 9970 HWY 165 N LLC, 25-01003 (Bankr. M.D. La.); and c. Beeland Properties, LLC et al v. Bank of St. Francisville et al, 25-01004 (Bankr. M.D. La.) The firm's hourly rates are: Richard A. Richardson, Esq. $350 Associate Attorneys $200 Legal Assistants $80 As disclosed in the court filings, the Law Office of Richard A. Richardson does not represent or hold any interest adverse to the Debtor(s) or to the estate with respect to the matter on which the law firm is to be employed. The firm can be reached through: Richard A. Richardson, Esq. Law Office of Richard A. Richardson, LLC 14 Poplar Dr. Covington, LA 70433-4328 Phone: (504) 626-6956 About Beeland Properties, LLC Beeland Properties, LLC is a company in Denham Springs, La., engaged in renting and leasing real estate properties. The Debtor filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. La. Case No. 24-10461) on June 11, 2024, with $1 million to $10 million in both assets and liabilities. Jeff Landry, manager, signed the petition. Judge Michael A. Crawford presides over the case. Ryan J. Richmond, Esq., at Sternberg, Naccari & White, LLC represents the Debtor as legal counsel. BELLE MEADE: Hires Central Commercial as Real Estate Broker ----------------------------------------------------------- Belle Meade Studios, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Central Commercial Real Estate Inc. as real estate broker. The firm will market and sell the Debtor's property located at 7625 Biscayne Boulevard, Miami, FL 33138. The firm will earn a commission equal to 4% of the sales price. Ari Dispenza, sales associate for Central Commercial Real Estate Inc., disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Ari Dispenza Central Commercial Real Estate Inc. 390 NW 27th Street Miami, FL 33127 Office Phone: (786) 577-4974 Email: aridispenza@centralcommercialre.com About Belle Meade Studios, LLC Belle Meade Studios LLC, located in Miami, Florida, offers creative services such as audio recording, video production, and photography, operating from a professional studio at 7625 Biscayne Blvd, Suite 1, catering to artists and content creators. Belle Meade Studios LLC in Miami, FL, sought relief under Chapter 11 of the Bankruptcy Code filed its voluntary petition for Chapter 11 protection (Bankr. S.D. Fla. Case No. 25-22016) on Oct. 13, 2025, listing as much as $1 million to $10 million in both assets and liabilities. Rachel Dugger signed the petition as authorized manager, signed the petition. LAW OFFICES OF SCOTT ALAN ORTH, P.A. serve as the Debtor's legal counsel. BIOAGILYTIX: Crescent Capital Marks $15.6MM 1L Loan at 18% Off -------------------------------------------------------------- Crescent Capital BDC, Inc. has marked its $15,696,000 loan extended to BioAgilytix to market at $12,928,000 or 82% of the outstanding amount, according to Crescent Capital's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC, Inc. is a participant in a Senior Secured First Lien Term Loan extended to BioAgilytix. The 1L Loan accrues interest at a rate of S + 250 (plus 400 PIK), 10.27% per annum. The 1L Loan matures on December 2028. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About BioAgilytix BioAgilytix is a contract research organization that provides bioanalytical testing and related laboratory services to support pharmaceutical and biotechnology drug development. BIOAGILYTIX: Crescent Capital Marks $816,000 1L Loan at 18% Off --------------------------------------------------------------- Crescent Capital BDC, Inc. has marked its $816,000 loan extended to BioAgilytix to market at $672,000 or 82% of the outstanding amount, according to Crescent Capital's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC, Inc. is a participant in a Senior Secured First Lien Delayed Draw Term Loan extended to BioAgilytix. The 1L Loan accrues interest at a rate of S + 250 (plus 400 PIK), 10.27% per annum. The 1L Loan matures on December 2028. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About BioAgilytix BioAgilytix is a contract research organization that provides bioanalytical testing and related laboratory services to support pharmaceutical and biotechnology drug development. BLOOMSBURY DEVELOPMENT: Secured Party Sets March 11, 2026 Auction ----------------------------------------------------------------- On March 11, 2026, starting at 3:00 p.m. Eastern Time, Auction Advisors, as Auctioneer, on behalf of E.G. Reinsch, Inc., a Virginia corporation ("Secured Party"), will offer for sale at a public auction under the Uniform Commercial Code,100% of the ownership interests in: BLOOMSBURY DEVELOPMENT, LLC, a Virginia limited liability company, formerly known as Tri-State Development Companies, LLC (the "Company"). The sale will be conducted virtually via online video conference and in person at the offices of Bean, Kinney & Korman, P.C., 2311 Wilson Blvd., Suite 500, Arlington, VA 22201. Instructions on how to become a "qualified bidder" and attend the auction via online video conference are set forth in the Terms & Conditions of Auction which are available online at www.AuctionAdvisors.com or by contacting Joshua Olshin of Auction Advisors at: Jolshin@AuctionAdvisors.com. Secured Party is and shall be a qualified bidder and shall be allowed to credit bid amounts due and owing to it in connection with any bids it may make with respect to the ownership interests in the Company. The auction sale will be held to enforce the rights of Secured Party under the certain Pledge and Security Agreement dated March 25, 2021 by and between Secured Party and Phillip Anthony Rivera-Silva ("Pledgor") pursuant to which Pledgor granted Secured Party a security interest in, among other things, the ownership interests in Company. Qualified bidders shall be required to post a $100,000.00 good faith deposit prior to bidding, which deposit will be required to be increased to twenty five percent (25%) of the successful bid by the successful bidder on or prior to NOON Eastern Time on March 9, 2026. Secured Party shall not be required either to post a good faith deposit or to increase its deposit as aforesaid. The sale will be FINAL and on an "AS-IS, WHERE IS, WITH ALL FAULTS" basis and will be made WITHOUT REPRESENTATION OR WARRANTY WHATSOEVER. The ownership interests owned by Pledgor in the Company are unregistered securities under the Securities Act of 1933, and as such are subject to certain transfer restrictions. The ownership interests owned by Pledgor in the Company will be sold as a single block. Secured Party reserves the right to establish all bidding procedures and requirements and to have prospective bidders reasonably demonstrate to the satisfaction of Secured Party that they are qualified investors and their ability to perform and close on the acquisition of the ownership interests in the Company. Secured Party reserves the right to credit bid at the sale. Secured Party also reserves the right to adjourn, continue, or cancel the sale without further notice. Other terms and conditions of the sale are set forth in the Terms & Conditions. Secured Party's understanding (made without any representation or warranty by Secured Party as to the accuracy or completeness of the following maters) is that: (i) Pledgor owns 100% of the limited liability company membership interests in the Company; (ii) the Company owns 16 and 2/3% of the limited liability company membership interests (the "Company Ownership Interests") in TRI-STATE COMMUNITIES, LLC, a Virginia limited liability company ("Property Owner"); and (iii) the principal asset of the Property Owner is that certain fee interest in the ongoing residential development project known as "Chain Bridge Estates" (the "Project"). The Project is being developed on real estate located in Fairfax County, Virginia consisting of 3.261 acres, more or less, known as 7020, 7022, 7024, 7026, 7028, 7030, 7032, 7034, 7036, 7038, 7040, 7041, 7042, 7043, 7044, 7045, 7046, 7047, 7048, 7049, 7050, 7052, 7054, 7056, 7058, 7060, 7062, 7064 Liberty Lane, McLean, VA 22101, and 1620, 1622, 1624, 1626, 1628, 1630, and 1632 Chain Bridge Road, McLean, VA 22101. The finished project is to consist of 7 residential buildings containing, in the aggregate, 35 single-family dwelling units, a commercial clubhouse building, surface parking, stormwater conveyance and management facilities, and applicable screening and barriers. The Project is and will continue to be subject to a condominium declaration containing, among other things, certain restrictive covenants that require at least one individual residing in each residential unit be 60 years of age or older, on terms and conditions more particularly set forth therein. Certain additional but limited information available to Secured Party regarding the Company will be made available via a secure data room to prospective bidders who execute a non-disclosure agreement. Such non-disclosure agreement, and other information and due diligence materials may be obtained by visiting www.AuctionAdvisors.com. Any interested bidder must satisfy the requirements to be a "qualified bidder" by no later than NOON Eastern Time on March 9, 2026. The auction of the Ownership Interests will commence at 3:00 p.m. Eastern Time on March 11, 2026. BRD LAND: Seeks to Hire Kurtzman Carson as Claims, Noticing Agent ----------------------------------------------------------------- BRD Land & Investment and its voluntary petition seek approval from the U.S. Bankruptcy Court for the District of Delaware to hire Kurtzman Carson Consultants, LLC d/b/a Verita Global as claims, noticing, and ballot agent. Verita Global will oversee the distribution of notices and will assist in the maintenance, processing, and docketing of proofs of claim filed in the Chapter 11 cases of the Debtors. The firm will be paid at its standard hourly rates and will be reimbursed for expenses incurred. Verita received a retainer in the amount of $15,000. Evan Gershbein, an executive vice president of corporate restructuring at Verita Global, 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: Evan J. Gershbein Verita Global 222 N. Pacific Coast Highway, 3rd Floor El Segundo, CA 90245 Telephone: (310) 823-9000 Facsimile: (310) 823-9133 Email: egershbein@kccllc.com About BRD Land & Investment BRD Land & Investment filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D.N.C. Case No. 26-30215) on February 24, 2026, listing $10,000,001 to $50 million in assets and $50,000,001 to $100 million in liabilities. Judge Laura T Beyer presides over the case. Matthew L Tomsic, Esq at Rayburn Cooper Durham P.A. serves as the Debtor's counsel. BUTTERCUP BODYWEAR: Case Summary & 20 Largest Unsecured Creditors ----------------------------------------------------------------- Debtor: Buttercup Bodywear Inc. Shebird 7514 Camino Minero Carlsbad, CA 92009-8722 Business Description: Buttercup Bodywear Inc., doing business as SheBird, is a Delaware corporation founded in January 2019 that designs and sells women's apparel through its online store and select third-party retailers nationwide, focusing on fashion with built-in bra support that emphasizes comfort and style. The company offers tops, dresses, and bottoms that blend functional shaping with everyday wear, targeting women seeking convenience without traditional bras. It operates within the women's fashion and e-commerce retail industry. Chapter 11 Petition Date: March 1, 2026 Court: United States Bankruptcy Court Southern District of California Case No.: 26-00877 Judge: Hon. J Barrett Marum Debtor's Counsel: Donald Reid, Esq. LAW OFFICE OF DONALD W. REID 770 1st Ave Ste 250 San Diego CA 92101-6170 Tel: (619) 880-6100 Email: don@donreidlaw.com Total Assets: $366,491 Total Liabilities: $1,713,382 The petition was signed by Sheila Attari as CEO. 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/C5IHR3Y/Buttercup_Bodywear_Inc__casbke-26-00877__0001.0.pdf?mcid=tGE4TAMA CALDERONE SUBS: Seeks to Hire Johayna Espejo as Accountant ---------------------------------------------------------- Calderone Subs LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to hire Johayna Espejo, a professional practicing in New Jersey, as accountant. Ms. Espejo's services include reconciliation of the Debtor's accounts, preparation of sales tax reportings, preparation of the Debtor's payroll, preparation of the Debtor's monthly reports; and coordination with the Debtor's counsel for financials necessary for the reorganization. Ms. Espejo's retention is for a flat fee of $600 per month. Ms. Espejo assured the court that she is a disinterested person under 11 U.S.C. Sec. 101(14). Ms. Espejo can be reached at: Johayna Espejo My Office Accounting Services 20 N. Van Brunt Street, Suite 11 Englewood, NJ 07631 About Calderone Subs LLC Calderone Subs LLC sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Case No. 26-10024) on January 2, 2026, listing up to $50,000 in both assets and liabilities. Melinda D. Middlebrooks, Esq. at Middlebrooks Shapiro, P.C. represents the Debtor as counsel. CAN TRAIL: Case Summary & 20 Largest Unsecured Creditors -------------------------------------------------------- Debtor: Can Trail Transportation L.L.C. 8743 Medford Street Riverside, CA 92508 Business Description: Can Trail Transportation L.L.C., established in 2020 and based in California, provides freight transportation services including dry and refrigerated local and intermodal over-the-road shipments, with a focus on cargo originating from the Los Angeles and Long Beach ports. The company serves clients across sectors such as B2B commercial, construction, and hazardous materials, offering LTL pick-up and tailored logistics solutions. Can Trail emphasizes reliability, safety, and customer satisfaction, leveraging experienced drivers, industry expertise, and a culture of continuous improvement to support efficient and dependable freight operations. Chapter 11 Petition Date: March 1, 2026 Court: United States Bankruptcy Court Central District of California Case No.: 26-11496 Judge: Hon. Scott H Yun Debtor's Counsel: Keving Tang, Esq. TANG & ASSOCIATES 17011 Beach Blvd Suite 900 Huntington Beach, A 92647 Tel: 714-594-7022 E-mail: kevin@tang-associates.com Total Assets: $272,546 Total Liabilities: $1,740,024 The petition was signed by Derrick Lee Cantrell 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/HUK66DQ/Can_Trail_Transportation_LLC__cacbke-26-11496__0001.0.pdf?mcid=tGE4TAMA CANNABIST COMPANY: Further Extends Forbearance Agreement to Mar. 17 ------------------------------------------------------------------- The Cannabist Company Holdings Inc. announced on March 6, 2026, that the Ad Hoc Group of Noteholders of the Company's 9.25% Senior Secured Notes due December 31, 2028 and the 9.00% Senior Secured Convertible Notes due December 31, 2028, which are parties to the previously announced forbearance agreement with the Company, have agreed to a further extension and to forbear from exercising any of their rights and remedies under the amended and restated indenture, as supplemented, governing the Notes and applicable law, until March 17, 2026. About The Cannabist Company (f/k/a Columbia Care) The Cannabist Company, formerly known as Columbia Care, is one of the most experienced cultivators, manufacturers and providers of cannabis products and related services, with licenses in 12 U.S. jurisdictions. The Company operates 77 facilities including 61 dispensaries and 16 cultivation and manufacturing facilities, including those under development. Columbia Care, now The Cannabist Company, is one of the original multi-state providers of cannabis in the U.S. and now delivers industry-leading products and services to both the medical and adult-use markets. In 2021, the Company launched Cannabist, its retail brand, creating a national dispensary network that leverages proprietary technology platforms. The Company offers products spanning flower, edibles, oils and tablets, and manufactures popular brands including dreamt, Seed & Strain, Triple Seven, Hedy, gLeaf, Classix, Press, and Amber. For more information, please visit www.cannabistcompany.com. CHARLES & COLVARD: Case Summary & 20 Largest Unsecured Creditors ---------------------------------------------------------------- Debtor: Charles & Colvard, Ltd. f/d/b/a C3 Diamante, Inc. f/d/b/a C3, Inc. 170 Southport Drive Morrisville, NC 27560 Business Description: Charles & Colvard Ltd. designs, manufactures, and markets lab-grown gemstones and fine jewelry, including moissanite and lab-grown diamonds, which are sold in engagement rings, wedding bands, earrings, necklaces, and other accessories. The company sources and produces lab-created gemstones and offers finished jewelry through its e-commerce platform and select retail partners. Founded in 1995, Charles & Colvard is headquartered in Morrisville, North Carolina. Chapter 11 Petition Date: March 2, 2026 Court: United States Bankruptcy Court Eastern District of North Carolina Case No.: 26-00969 Debtor's Counsel: Rebecca Redwine Grow, Esq. HENDREN, REDWINE & MALONE, PLLC 4600 Marriott Drive Suite 150 Raleigh, NC 27612 Tel: (919) 420-7867 Fax: (919) 420-0475 E-mail: rredwine@hendrenmalone.com Total Assets: $19,200,000 Total Debts: $10,500,000 The petition was signed by Michael Levin as board chair. 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/MDH4XBA/Charles__Colvard_Ltd__ncebke-26-00969__0001.0.pdf?mcid=tGE4TAMA CHASEN CONSTRUCTION: Trustee Taps Maurice B. VerStandig as Counsel ------------------------------------------------------------------ Roger Schlossberg, Chapter 11 Trustee of Chasen Construction, LLC, seeks approval from the U.S. Bankruptcy Court for the District of Maryland to employ Maurice B. VerStandig, Esq. and The VerStandig Law Firm, LLC d/b/a The Belmont Firm to serve as general reorganization counsel. Mr. VerStandig will provide these services: (a) prepare and file all necessary pleadings, motions, and other court papers, on behalf of the Trustee; (b) negotiate with creditors and other interested parties; (c) represent the Trustee in any adversary proceedings, contested matters, and other proceedings; (d) prepare a plan of reorganization, together with a disclosure statement, on behalf of the Trustee; and (e) tend to such other and further matters as are necessary and appropriate in the prism of this case. Mr. VerStandig will receive $600 per hour for partner time, $300 per hour for associate time, and $100 per hour for paralegal time. VLF does not represent any other person or entity in connection with this case, and both VLF and its principal are disinterested as that term is used in Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Maurice B. VerStandig, Esq. THE VERSTANDIG LAW FIRM, LLC 9812 Falls Road, #114-160 Potomac, MD 20854 Telephone: (301) 444-4600 E-mail: mac@mbvesq.com About Chasen Construction Chasen Construction LLC, operating as Chasen Companies, specializes in real estate acquisition and development in the Greater Baltimore Region, with plans for expansion across the U.S. As a vertically integrated company, Chasen manages the entire development process, from acquisitions and financing to construction, marketing, and leasing. The Company is dedicated to delivering high-quality living and workspaces, designed with luxury and modern amenities to enhance the tenant experience. On March 18, 2025, Sandy Spring Bank, Southland Insulators of Maryland, Inc., and Ferguson Enterprises, Inc., petitioning creditors, on behalf of Chasen Construction, LLC filed an involuntary petition under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Md. Case No. 25-12356). Judge Nancy V. Alquist oversees the case. Martin Law Group, P.C., the Law Office of Jill D. Caravaggio, and Whittaker/Myers, PC serve as the petitioners' counsel. CHEMOURS COMPANY: Moody's Rates New $600MM Sr. Unsecured Notes 'B1' ------------------------------------------------------------------- Moody's Ratings assigned a B1 rating to The Chemours Company's (Chemours) proposed $600 million new senior unsecured notes due 2034. Proceeds from the notes, along with balance sheet cash, will be used to redeem $495 million of senior unsecured notes maturing in May 2027, as well as to redeem a portion of its outstanding senior unsecured notes due November 2028. The outlook is negative. "Trough conditions in the titanium dioxide persist, despite price increases announced in 2025. Without a meaningful rebound in TiO2 prices in the first half of 2026, credit metrics are likely to remain under pressure and put further pressure on the rating," stated John Rogers, Moody's Ratings' Senior Vice President and lead analyst on Chemours. RATINGS RATIONALE The B1 rating on the new notes, one notch below the Ba3 Corporate Family Rating (CFR), reflects their position in the capital structure relative to approximately $1.5 billion of secured term loans. Management is prudent in addressing debt maturities well in advance, given stressed credit metrics. Chemours' Ba3 CFR reflects the company's substantial size, leading market positions in each of its three business segments, and proprietary technologies that normally enable the company to generate strong profit margins. These strengths are offset by the cyclicality of its titanium dioxide (TiO2) business and substantial litigation risk stemming from per- and polyfluoroalkyl substances (PFAS). While the comapny's Thermal & Specialized Solutions segment (TSS) continues to grow sales and earnings, credit metrics remain weak due to the trough profitability of its Titanium Technologies (TT) and Advanced Performance Materials (APM) segments. Additionally, the company is a defendant in a large number of actions filed by states, municipalities, environmental regulators, businesses, and private plaintiffs. PFAS have been used and sold by the company and its predecessors for more than 70 years. Settlements to date have been manageable with the support of DuPont de Nemours, Inc. (DuPont; Baa1 Stable) and EIDP, Inc. (Baa1 Negative; dba Corteva Inc.). Despite some recently settled liabilities related to PFAS claims, including with the state of New Jersey, a substantial number of lawsuits remain in the multi-district litigation (MDL) in South Carolina, and the number of lawsuits outside of the MDL is increasing, primarily due to opt-outs from a prior settlement. Over the past year, Chemours has taken a number of steps to improve financial performance and cash flow generation. The company lowered its dividend by 65%, continued to pursue cost reduction efforts and in January 2026, announced the sale of land in Taiwan, proceeds of which will be used to reduce debt. Despite continued growth in sales and profits in its Thermal & Specialized Solutions segment (TSS) and the actions cited above, year-end 2025 credit metrics remain very weak for the rating, with Debt/EBITDA of over 5x and Retained Cash Flow/Debt of less than 5%. Even with management's projected increase in 2026 financial performance and roughly $400-500 million in debt reduction, credit metrics are likely to remain elevated for the rating with Debt/EBITDA of roughly 4.5x. LIQUIDITY Chemours' SGL-2 rating indicates good liquidity due to roughly $670 million in cash (as of December 31, 2025) and access to a roughly $1 billion revolving credit facility, comprised of $780 million due in May 2030 and $220 million due in October 2026. All of the commitments have a springing maturity that is 91 days prior to the next term loan or unsecured note maturity. The next maturity date after the notes due in 2027 will be August 2028, for the secured Euro term loan. The revolver has a maximum secured Net Debt/EBITDA ratio of 2.75x, stepping down to 2.5x in 2Q26, and finally to 2.0x in 4Q26. The company should be able to maintain compliance with this covenant over the next 12-18 months. The company also has access to a $165 million accounts receivable facility due in March 2028. OUTLOOK The negative outlook reflects continuing weak credit metrics and the expectation for limited free cash flow due to the downturn in two of its three business segments. Without a material improvement in TiO2 profitability, potential debt reduction will be constrained and credit metrics will remain weak for the rating. While management is focused on reducing costs and debt reduction, these actions by themselves are not likely to return credit metrics to levels that adequately support the rating over the next 12 months. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATING An upgrade is highly unlikely due to the company's current financial performance. However, an upgrade would be considered when there is better clarity on the potential timing and scale of future PFAS litigation-related settlements and remediation liabilities. Moody's would consider a downgrade if (i) PFAS litigation and settlement-related costs increased significantly; (ii) there were any concerns that DuPont and Corteva Inc. would not continue to support the company in addressing future PFAS liabilities; and (iii) Debt/EBITDA was expected to exceed 4.0x and Retained Cash Flow/Debt was expected to be below 10% for a sustained period. The Chemours Company, headquartered in Wilmington, Delaware, is a leading global producer of performance chemicals through three primary segments: Thermal & Specialized Solutions, Titanium Technologies, and Advanced Performance Materials. Revenues for the last twelve months ending December 31, 2025 were roughly $5.8 billion. The principal methodology used in this rating was Chemicals published in February 2026. CHICO'S INVESTMENTS: Seeks to Tap Exp Realty as Real Estate Broker ------------------------------------------------------------------ Chico's Investments, LLC seeks approval from the U.S. Bankruptcy Court for the Central District of California to hire Exp Realty of Greater Los Angeles as real estate broker. The firm will market and sell the Debtor's property located at 4512 S. Vermont Ave. Los Angeles, CA 90037. The broker will receive a commission equal to 3 percent of the sales price. Steven Gray as agent for Exp Realty of Greater Los Angeles assured the court that the firm "disinterested persons" as defined in Section 101(14) of the Bankruptcy Code. The broker can be reached through: Steven Gray Exp Realty of Greater Los Angeles 303 N. Glenoaks Blvd, Suite 200 Burbank, CA 91502 Mobile: (626) 808-4902 Office: (866) 446-2624 About Chico's Investments, LLC Chico's Investments, LLC is a California-based investment company engaged in managing and acquiring diversified assets across multiple sectors. Chico's Investments, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-11202) on February 10, 2026. In its petition, the Debtor reports estimated assets of $1 million - $10 million and estimated liabilities of $100,001 - $1 million. Honorable Bankruptcy Judge Neil W. Bason handles the case. The Debtor is represented by Michael R. Totaro, Esq. of Totaro & Shanahan, LLP. CITRUS SPRINGS: S&P Assigns 'BB+' Rating on 2026A-B Revenue Bonds ----------------------------------------------------------------- S&P Global Ratings assigned its 'BB+' long-term rating to the California School Finance Authority's (CSFA) $20.9 million series 2026A (tax-exempt) and $485,000 series 2026B (taxable) charter school revenue bonds, to be issued for Citrus Springs Charter School Inc. The outlook is stable. S&P Global Sustainable1 data shows that Orange County, relative to other locations nationally, faces elevated exposure to seismic activity and wildfire risks. S&P said, "In our view, based on CSCS' location, the elevated exposure to seismic risk could pose challenges to the school's infrastructure and become material to our view of creditworthiness. However, we believe strong state building codes partly mitigate this risk. Although the region is exposed to elevated wildfire risks, we believe that CSCS' urban location and the network's ability to operate many of its educational programs remotely mitigates this. Consequently, we consider physical risk exposure neutral in our credit rating analysis. The school-age population of Orange County, where the vast majority of the school's enrollment is located, is projected to decline by 6.6% over the next five years. We view governance factors as neutral in our credit rating analysis." S&P said, "The stable outlook reflects our expectation that CSCS will at least maintain enrollment and overall market position, while generating sufficient MADS coverage for the rating and maintaining stable-to-growing nominal cash reserves. "We could consider a negative rating action if the school experiences significant enrollment volatility, struggles to navigate charter contract negotiations, or generates deficit operations on a full-accrual basis. We also may take a negative view of a material increase in debt beyond the current issuance. "We could consider a positive rating action if the school demonstrates over time that it is able to execute planned program expansion and meet enrollment targets while generating sufficient pro forma lease-adjusted MADS coverage and improving its overall liquidity position." CNEX LABS: Public Auction Scheduled for March 19 ------------------------------------------------ Point Financial, Inc. ("Secured Party"), pursuant to its rights under Article 9 of the Uniform Commercial Code, will conduct a public sale of certain assets formerly owned by CNEX Labs, Inc. ("Debtor"). The sale will include all right, title, and interest of the Debtor in and to all assets constituting collateral under that certain Security Agreement dated November 23, 2021, as amended, including without limitation: intellectual property, patents, patent applications, trade secrets, software, firmware, source code, hardware designs, engineering documentation, equipment, tooling, mask sets a test fixtures, accounts, contract rights, and general intangibles, together with all proceeds thereof. The auction will be held on March 19, 2026, at 11:00 PST, at the offices of Jaburg & Wilk, P.C. at 1850 North Central Avenue, Suite 1200, Phoenix, Arizona 85004. The collateral will be sold AS IS, WHERE IS, WITH ALL FAULTS, without representations or warranties of any kind express or implied. The sale is subject to any applicable liens, licenses, claims, or interests that may have priority under applicable law. Interested parties may inspect relevant documents, including collateral descript on, and obtain additional information by contacting the following: Point Financial, Inc. Eric Koontz 480-707-9234 ekoontz@pointfin.com Point Financial reserves the right to sell some or all of the Sale Property by private sale prior to the auction. It reserves the right to credit bid at the sale. It reserves the right to adjourn, continue, or cancel the sale without further notice. COASTAL GROWERS: Seeks to Hire Berger Singerman as Legal Counsel ---------------------------------------------------------------- Coastal Growers LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Alabama to hire Edward J. Peterson of Berger Singerman LLP to serve as legal counsel. Mr. Peterson will provide these services: (a) give legal advice to the Plan Administrator in connection with these Chapter 11 cases; (b) perform other legal services customarily provided by counsel to a Plan Administrator in chapter 11 cases; and (c) prepare necessary applications, orders, reports, and other legal papers as required. Mr. Peterson will receive an hourly rate of $725, with of-counsel and associate attorneys billing at $450 to $735 per hour, and legal assistants and paralegals billing at $125 to $495 per hour. Berger Singerman LLP is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Edward J. Peterson, Esq. BERGER SINGERMAN LLP 101 E. Kennedy Blvd., Suite 1165 Tampa, FL 33602 Telephone: (813) 498-3400 E-mail: epeterson@bergersingerman.com About Coastal Growers LLC Coastal Growers, LLC is a company that helps peanut farmers achieve higher returns by sharing in farming and shelling profits and operates a shelling facility in Atmore. Since its launch in 2021, the facility has served as a key center for peanut shelling, storage, and shipping, contributing to regional agricultural growth and economic development, the report relays. Coastal Growers filed Chapter 11 petition (Bankr. S.D. Ala. Case No. 24-13034) on November 27, 2024, with total assets of $10 million to $50 million and total liabilities of $100 million to $500 million. Holly Johnson, chief financial officer of Coastal Growers, signed the petition. Judge Henry A. Callaway presides over the case. The Debtor tapped Edward J. Peterson, III at Johnson Pope Bokor Ruppel & Burns, LLP as counsel and Porter White Capital Advisors, Inc. as investment banker. COCONUT BREEZE: Richard Furtek Named Subchapter V Trustee --------------------------------------------------------- The U.S. Trustee for Regions 3 and 9 appointed Richard Furtek of Furtek & Associates, LLC as Subchapter V trustee for Coconut Breeze Cuisine Incorporated and Irie Entrée, LLC. Mr. Furtek will be paid an hourly fee of $325 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Furtek declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Richard E. Furtek Furtek & Associates, LLC Lindenwood Corporate Center 101 Lindenwood Drive, Suite 225 Malvern, PA 19355 Phone: (215) 768-8030 Email: rfurtek@furtekassociates.com About Coconut Breeze Cuisine Incorporated Coconut Breeze Cuisine Incorporated and Irie Entree, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Pa. Case No. 26-10640 and 26-10642) on February 18, 2026. At the time of the filing, the Debtors reported assets of between $500,001 and $1 million, and liabilities of between $500,001 and $1 million. Judge Derek J. Baker oversees the case. Obermayer Rebmann Maxwell & Hippel LLP is Debtors' legal counsel. COLUMBIAN MUTUAL: May 4 Rehabilitation Plan Approval Hearing Set ---------------------------------------------------------------- SUPREME COURT OF THE STATE OF NEW YORK - COUNTY OF BROOME INDEX NO. EFCA2024001871 In the Matter of the Rehabilitation of COLUMBIAN MUTUAL LIFE INSURANCE COMPANY. AMENDED NOTICE OF PLAN APPROVAL HEARING REGARDING PLAN OF REHABILITATION FOR COLUMBIAN MUTUAL LIFE INSURANCE COMPANY This Amended Notice of Plan Approval Hearing amends a previous Notice that you may have received. The only substantive changes in this Amended Notice are (1) a change in the hearing date, and (2) a change in the deadline by which you must file any objections that you might have, each of which dates are set forth below. Kaitlin Asrow, the Acting Superintendent of Financial Services of the State of New York, as the court-appointed rehabilitator (the "Rehabilitator") of Columbian Mutual Life Insurance Company ("CML") in the rehabilitation proceeding (the "Rehabilitation Proceeding"), has filed a Plan of Rehabilitation for Columbian Mutual Life Insurance Company, dated December 12, 2025 (as may be amended, modified or supplemented from time to time, the "Plan"). Pursuant to the Court's amended Plan Scheduling Order entered on February 10, 2026, the hearing at which the Court will consider approval of the Plan will commence on May 4, 2026, at 10:30 a.m. (the "Plan Approval Hearing") before the Court located at 92 Court Street, Binghamton, New York 13901. The Rehabilitator seeks approval of the Plan to remove the causes and conditions that made the Rehabilitation Proceeding necessary. This will be accomplished by a series of transactions under the Plan for the acquisition of CML by JAB Insurance US Holdings, Inc. (the "Purchaser"), in exchange for the Purchaser making a financial contribution of not less than $100 million to CML and its subsidiary Columbian Life Insurance Company ("CLIC"), which is currently in rehabilitation proceedings in Illinois. The Contribution will be allocated between CML and CLIC, part of which will be in return for the issuance of CML's new capital stock to Purchaser, and will recapitalize both companies and strengthen their balance sheets. The Plan is focused on protecting CML Policyholders' insurance benefits. Critically, the Plan will not result in the alteration of any insurance benefits or the insurance terms of the Policyholders' policies, such as premiums, coverage and claims. However, if the Plan is not approved and CML is required to convert to a liquidation proceeding, Policyholder insurance benefits could be jeopardized. Under the Plan, Policyholders' ownership rights and interests and other Equity Interests in CML, which the Rehabilitator believes do not have any value, will be extinguished and discharged, and the Purchaser will become the owner of CML's newly issued capital stock. In addition, the Plan provides certain releases, including the release of the Purchaser and its Affiliates from any Claims in connection with the Transactions, including the extinguishment and discharge of Policyholders' Equity Interests. In addition, the Plan will not impair the rights of creditors, vendors, and other contractual counterparties. All such claims will be processed and paid in the ordinary course of CML's business. If the Plan is approved by the Court at the Plan Approval Hearing and consummated, CML will emerge as a recapitalized insurance company capable of meeting its policy obligations. Accordingly, the Rehabilitator submits that the Plan is in the best interests of Policyholders and CML's other stakeholders. The Amended Plan Scheduling Order entered by the Court establishes a detailed briefing schedule for the approval of the Plan. Copies of the Amended Plan Scheduling Order, the Plan, a Disclosure Statement that describes the Plan, the form of the Plan Approval Order, and other important documents regarding the Rehabilitation Proceeding, are available at (i) the New York Liquidation Bureau Internet web page at https://www.nylb.org, under Legal and Estate Notices, and (ji) the website set up in connection with the Plan and this Rehabilitation Proceeding, www.proxydocs.com/ColumbianMutuallife. PLEASE CONTINUE TO CHECK THESE WEBSITES FOR ANY CHANGES TO THE SCHEDULED DATES OR DOCUMENTS. IF YOU HAVE ANY QUESTIONS, PLEASE CALL 888-389-6164. Any person wishing to object to the approval of the Plan must comply with the deadlines and procedures set forth in the Amended Plan Scheduling Order, including a deadline of March 30, 2026, for filing any objections to the Plan. CONDOMINIUM BOARD: Jolene Wee Named Subchapter V Trustee -------------------------------------------------------- The Acting U.S. Trustee for Region 4 appointed Jolene Wee of JW Infinity Consulting, LLC as Subchapter V trustee for The Condominium Board of Managers of The Cassa NY Condominium. Ms. Wee will be compensated at $660 per hour for work performed in 2026. In addition, the Subchapter V trustee will receive reimbursement for work-related expenses incurred. Ms. Wee declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Jolene E. Wee JW Infinity Consulting, LLC 447 Broadway 2nd Fl #502 New York, NY 10013 Telephone: (929) 502-7715 Facsimile: (646) 810-3989 Email: jwee@jw-infinity.com About The Condominium Board of Managers of The Cassa NY The Condominium Board of Managers of The Cassa NY Condominium sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. N.Y. Case No. 26-10379) on February 24, 2026, with $50,001 to $100,000 in assets and $1 million to $10 million in liabilities. Scott S. Markowitz, Esq., at Tarter Krinsky & Drogin, LLP represents the Debtor as legal counsel. CONTINENTAL BATTERY: Crescent Capital Marks $3M 1L Loan at 48% Off ------------------------------------------------------------------ Crescent Capital BDC, Inc. has marked its $3,108,000 loan extended to Continental Battery Company to market at $1,432,000 or 52% of the outstanding amount, according to Crescent Capital's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC, Inc. is a participant in an Unitranche First Lien Delayed Draw Term Loan extended to Continental Battery Company. The loan is on non-accrual status. The loan matures on July 2028. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About Continental Battery Company Continental Battery Company is a battery distributor and related services provider focused on supplying energy storage solutions across automotive and industrial end markets. CONTINENTAL BATTERY: Crescent Capital Marks $8MM 1L Loan at 54% Off ------------------------------------------------------------------- Crescent Capital BDC, Inc. has marked its $8,428, 000 loan extended to Continental Battery Company to market at $3,884,000 or 46% of the outstanding amount, according to Crescent Capital's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC, Inc. is a participant in an Unitranche First Lien Term Loan loan extended to Continental Battery Company. The loan is on non-accrual status. The loan matures on July 2028. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About Continental Battery Company Continental Battery Company is a battery distributor and related services provider focused on supplying energy storage solutions across automotive and industrial end markets. COSMETIC SURGERY: Unsecureds Will Get 100% of Claims in Plan ------------------------------------------------------------ Cosmetic Surgery Associates, LLC filed with the U.S. Bankruptcy Court for the Western District of North Carolina a Disclosure Statement describing Chapter 11 Plan dated February 23, 2026. Formed in 1999, the Debtor is a North Carolina limited liability company that owns an approximately 10,000-square-foot office condominium in the Eastover Medical Park, located at 2620 East 7th Street, Suite 300, Charlotte, North Carolina (the "Office Condominium"). The Office Condominium is occupied by affiliate Voci Center Plastic Surgery, P.A. ("VCPS"), which operates a medical practice in the facility. The sole member and manager of the Debtor is Vincent E. Voci, M.D. Mecklenburg County, North Carolina holds a lien against the Debtor's real property for unpaid ad valorem taxes of approximately $17,758.32. Wells Fargo asserts a secured claim against the Estate of approximately $1.2 million arising from a joint loan made to the Debtor and VCPS, which is collateralized by a deed of trust against the Office Condominium (in addition to certain of VCPS's personal property). Upon information and belief, the Eastover Medical Park II Condominium Association, Inc. also asserts a perfected lien against the Office Condominium for unpaid community assessments of at least $27,340.00. The Debtor scheduled general unsecured debts of $34,450.00. The Debtor believes that the fair market value of the Office Condominium exceeds the amount of its total indebtedness. The Bankruptcy Court approved the retention of brokers to market the Office Condominium for sale, which process is ongoing. The Bankruptcy Real Estate Marketing Agreement between the Debtor and its brokers includes a 12-month marketing period. Once the Office Condominium is under contract, and following approval by the Bankruptcy Court following notice and a hearing, the Plan provides that the property will be sold free and clear of all liens, claims, interests, and encumbrances, with all such interests transferring to the sale proceeds. After payment of all Allowed Secured Claims and the customary costs of sale at closing, the remaining net proceeds (together with any other funds of the Estate) will be disbursed on the Distribution Date to the holders of Allowed Unsecured Claims in their order of priority under the Bankruptcy Code. The Debtor expects that the Claims of all Creditors will be satisfied in full under this process. After satisfaction of all Claims of higher priority, the holder of the Equity Interests in the Debtor (Dr. Voci) will receive any remaining net sale proceeds and shall retain his Equity Interests in the Reorganized Debtor. However, Dr. Voci will not receive or retain any property under the Plan unless all Allowed Claims of higher priority are fully satisfied. If that contingency does not occur, the Equity Interests shall be cancelled and the Debtor will be dissolved under applicable state law. Dr. Voci is the Debtor's sole manager, but will not be compensated for his service in this capacity by the Estate. He may, however, receive lawful distributions as a member of the Reorganized Debtor following the sale set forth in the Plan. Class 5 consists of all Allowed General Unsecured Claims. These Claims shall be treated as unsecured obligations of the Reorganized Debtor. On the Distribution Date, holders of Allowed General Unsecured Claims shall be paid Pro Rata Shares of the remaining Net Sale Proceeds (after satisfaction of all Claims of higher priority pursuant to applicable law) up to the full amounts of their Allowed General Unsecured Claims as of the Petition Date. The Debtor estimates that the Allowed Class 5 Claims total $34,450.00. This Class will receive a distribution of 100% of their allowed claims. This Class is impaired. Class 6 consists of the Allowed Equity Interests in the Debtor, held by Vincent E. Voci, M.D. (100%). After satisfaction of all Allowed Claims of higher priority, the holder of the Allowed Equity Interests shall receive distributions of any remaining Net Sale Proceeds, if any, on the Distribution Date or as soon as practicable thereafter commiserate with his respective ownership percentage and shall retain such Equity Interests in the Reorganized Debtor; provided, that the holder of the Allowed Equity Interests will not receive or retain any property pursuant to the Plan unless all Allowed Claims of higher priority are fully satisfied as set forth in the Plan. If all Allowed Claims of higher priority are not so satisfied, the Equity Interests in the Debtor and/or Reorganized Debtor shall be deemed cancelled and the Debtor and/or Reorganized Debtor shall be dissolved under applicable law. The Debtor is confident there will be sufficient funds on hand following the Property Sale to satisfy the distributions required under Section 1129(a)(9) of the Bankruptcy Code and any other obligations of the Reorganized Debtor under the Plan. A full-text copy of the Disclosure Statement dated February 23, 2026 is available at https://urlcurt.com/u?l=5MjXok from PacerMonitor.com at no charge. Counsel to the Debtor: Richard S. Wright, Esq. MOON WRIGHT & HOUSTON, PLLC 212 N. McDowell Street, Suite 200 Charlotte, NC 28204 Telephone: (704) 944-6560 Facsimile: (704) 944-0380 About Cosmetic Surgery Associates LLC Cosmetic Surgery Associates LLC is a single asset real estate company. Cosmetic Surgery Associates LLC filed for relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 25-31298) on Dec. 2, 2025. In its petition, the Debtor estimated assets between $1 million and $10 million and estimated liabilities between $1 million and $10 million. Bankruptcy Judge Laura T. Beyer handles the case. The Debtor is represented by Richard S. Wright, Esq. of Moon Wright & Houston, PLLC. COUNTRY AIR: Seeks to Hire Julianne Frank PA as Bankruptcy Counsel ------------------------------------------------------------------ Country Air and Refrigeration LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to hire Julianne Frank, P.A. to handle its Chapter 11 case. The firm's counsel will be paid at these hourly rate: Julianne Frank, Esq. $450 Paralegal $100 The firm received a retainer in the amount of $25,000 from the Debtor. Julianne R. Frank of Julianne Frank, P.A. disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Julianne Frank, Esq. Julianne Frank, PA 4495 Military Trail, Suite 107 Jupiter, FL 33458 Telephone: (561) 389-8660 Email: julianne@jrfesq.com About Country Air and Refrigeration Country Air and Refrigeration LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-12197) on February 23, 2026, with $100,001 to $500,000 in assets and liabilities. Judge Mindy A. Mora presides over the case. Julianne R. Frank, Esq. represents the Debtor as legal counsel. CREAMY TREATS: Seeks to Hire Ryan C. Wood as Bankruptcy Counsel --------------------------------------------------------------- Creamy Treats, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of California to hire the Law Offices of Ryan C. Wood, Inc. to handle its Chapter 11 case. Ryan Wood, Esq., the primary attorney in this representation, will be paid at his hourly rate of $475 plus reimbursement for expenses incurred. The firm received a retainer of $7,000 including a filing fee of $1,738 from the Debtor. Mr. Wood disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Ryan C. Wood, Esq. Law Offices of Ryan C. Wood, Inc. 611 Veterans Blvd., Ste. 218 Redwood City, CA 94063 Telephone: (650) 366-4858 Facsimile: (650) 366-4875 About Creamy Treats Inc. Creamy Treats, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Calif. Case No. 26-30097) on February 2, 2026, listing assets of up to $50,000 and liabilities of between $100,001 and $500,000. Ryan C. Wood, Esq., at the Law Offices of Ryan C. Wood, Inc., represents the Debtor as bankruptcy counsel. CRUISING KITCHENS: Court Amends Cash Collateral Order ----------------------------------------------------- The U.S. Bankruptcy Court for the Western District of Texas, San Antonio Division, amended its prior order that authorized Cruising Kitchens, LLC to use cash collateral. Under the amended order, the Debtor is authorized to use cash collateral from January 2 until its Chapter 11 case is dismissed or converted to Chapter 7, or a Chapter 11 plan is confirmed. The Debtor is also authorized to pay the lender with a blanket lien, James Michelle, LLC, and the Internal Revenue Service from its cash collateral. The Debtor offers to pay $3,000 per month to James Michelle and $1500 to the IRS as protection for the use of their cash collateral, according to court filings. As additional protection, both creditors were granted replacement liens -- effective as of the petition date -- co-extensive with their pre-bankruptcy liens. The amended order is available at https://is.gd/yVzHV7 from PacerMonitor.com. About Cruising Kitchens LLC Cruising Kitchens, LLC is a San Antonio-based manufacturer of custom food trucks and trailers. Cruisng Kitchens sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Texas Case No. 26-50001) on January 2, 2026. In its petition, the Debtor reported $3.4 million in assets and $14.7 million in liabilities. Honorable Bankruptcy Judge Michael M. Parker handles the case. The Debtor is represented by Ronald J. Smeberg, Esq., at Smeberg Law Firm, PLLC. CUMULUS MEDIA: Enters Restructuring Deal to Eliminate $600M in Debt ------------------------------------------------------------------- Cumulus Media Inc. announced on March 5, 2026, that it has entered into a comprehensive restructuring support agreement with a group of its lenders to eliminate approximately $600 million of debt, substantially deleveraging its balance sheet and enhancing its ability to execute on strategic priorities. The Company will continue operating in the ordinary course throughout the process, with no impact to employees, partners, or listeners. "While we have outperformed the market on many of our most important metrics, including share gains in both local and digital revenue, the broader macroeconomic and industry-wide pressures we have faced have remained unrelenting," said Mary G. Berner, President and Chief Executive Officer of Cumulus Media. "Against that backdrop, it became clear that Cumulus's remaining debt burden limited our ability to fully realize the Company's potential, and this agreement represents a major step forward." Berner continued, "The prepackaged process is intended to address the Company's debt efficiently with no disruption to our operations, our people, and our strategies. On emergence, a stronger financial foundation will better position Cumulus to continue investing in premium content, enriched audience experiences, advertiser performance enhancements, and the ongoing growth of our digital marketing offerings." To implement the Agreement, Cumulus and certain of its subsidiaries commenced prepackaged Chapter 11 proceedings in the United States Bankruptcy Court for the Southern District of Texas on March 5, 2026. In conjunction with the Chapter 11 petitions, Cumulus has filed a proposed Plan of Reorganization (the "Plan") that incorporates the terms of the RSA and is subject to approval by the Court. The requisite majority of debtholders committed to vote in favor of the Plan, which calls for the cancellation of 100% of the Company's existing funded indebtedness in exchange for 100% of the Company's reorganized equity and $50 million of new convertible notes, as well as the amendment and restatement of the Company's asset-based revolving credit facility to provide continued liquidity. Cumulus expects that the Court will hold a hearing to consider the approval of the Plan within 60 days of the filing date and that the Company will emerge from bankruptcy following receipt of required regulatory approvals from the Federal Communications Commission. Additional information regarding the restructuring is available at www.cumulus.com/restructuring. About Cumulus Media Cumulus Media is an audio-first media company delivering premium content to a quarter billion people every month -- wherever and whenever they want it. Cumulus Media engages listeners with high-quality local programming through 394 owned-and-operated radio stations across 84 markets; delivers nationally-syndicated sports, news, talk, and entertainment programming from iconic brands including the NFL, the NCAA, the Masters, US Soccer, AP News, and the Academy of Country Music Awards, across more than 7,800 affiliated stations through Westwood One, a leading national audio network; and inspires listeners through the Cumulus Podcast Network, an established and influential platform for original podcasts that are smart, entertaining, and thought-provoking. Cumulus Media provides advertisers with personal connections, local impact, and national reach through broadcast and on-demand digital, mobile, social, and voice-activated platforms, as well as integrated digital marketing services, powerful influencers, full-service audio solutions, industry-leading research and insights, and live event experiences. CUMULUS MEDIA: S&P Cuts ICR to 'D' on Chapter 11 Bankruptcy Filing ------------------------------------------------------------------ S&P Global Ratings lowered our issuer credit rating on Cumulus Media Inc. to 'D' from 'CCC+'. In addition, we lowered the issue-level ratings on Cumulus' first-out senior secured term loan and first-out senior secured notes to 'D' from 'CCC+', and the ratings on its second-out senior secured term loan and second-out senior secured notes to 'D' from 'CCC-'. The downgrade reflects Cumulus' filing for Chapter 11 bankruptcy protection. The company was facing increasing pressure due to a significant debt and interest burden. S&P said, "Given elevated interest expense and weak forecast earnings, we expect continued free cash flow deficits for the foreseeable future. Cumulus has approximately $25 million in upcoming stub obligations due in March and July 2026, which we believe it was unlikely to repay. Cumulus initiated a prepackaged plan of reorganization, under which existing lenders will exchange 100% of their debt for 100% of the reorganized equity and $50 million of new convertible notes." S&P expects to revisit the ratings once Cumulus emerges from bankruptcy. CUSHMAN & WAKEFIELD: S&P Affirms 'BB-' ICR, Outlook Negative ------------------------------------------------------------ S&P Global Ratings affirmed its 'BB-' issuer credit rating on Chicago-based commercial real estate service provider Cushman & Wakefield Ltd. and its 'BB-' issue-level ratings on its senior secured debt. The positive outlook is based on S&P's expectation that adjusted leverage is forecast to be sustained in the 3x-4x range, backed by the company's deleveraging efforts. The company's business mix relies primarily on revenues from services. The company derives about 90% of its total revenues from property management, leasing, valuation, and related services, while capital market-related activities contribute the remainder. S&P said, "Given this reliance on services revenue, we expanded our industry peer group analysis to include the broader business services industry, which we view as having less cyclicality and competitive risk than the narrower finance company industry. Among the broader peer group, we view Cushman & Wakefield's offerings as limited to the niche of commercial real estate (CRE) and related services and the fragmented and competitive nature of the market it operates in." Its scale (about $7.1 billion in adjusted revenue) is smaller than that of several higher-rated business services peers, and its profitability is lower, with adjusted EBITDA margins at or below 10% historically. These factors are somewhat offset by its market position among the top three players in this sub-segment, long-term favorable growth prospects of the sector it operates in, some brand recognition, and long-standing client relationships. S&P said, "Our adjusted revenue, expense, and EBITDA margins reflect adjustments to eliminate the impact of pass-through reimbursements related to client-dedicated personnel costs and subcontracted vendor costs directly attributable to properties under management. We borrow from the Hotels and Lodging sector-specific adjustments in our Corporate Methodology – Ratios & Adjustments criteria to make analytical adjustments to commercial real estate service providers and property managers that are consistent with those that we have long made for hotel and lodging property managers. "We expect adjusted leverage to be maintained in the 3x-4x range in 2026 and 2027. We expect activities across commercial real estate CRE--including investments, leasing, and related transactions --to continue to recover, backed by improvement in economic conditions and rising investment volumes for many property types. As such, we expect demand for commercial real estate (CRE) services to remain positive and drive adjusted revenue growth of 5%-7% over 2026-2027. Further, we believe recent improvements in profitability can be sustained such that adjusted EBITDA margins are expected to be 10%-11% over this period. We believe these earnings expectations --combined with the company's continued strong cash generation -- would help sustain net debt levels and result in adjusted leverage at the mid-point or at the lower end of our 3x-4x range. While our base-case scenario doesn't assume any dividends or large share repurchases based on the company's track record, we recognize that the company could allocate free cash opportunistically to pursue inorganic growth through strategic investments or bolt- on acquisitions. Alternatively, if the company continues to improve cash and net debt levels or repay incremental debt, credit metrics could improve faster than expected under our base case. "The company's adjusted leverage improved to 3.5x at year-end 2025 from 4.5x in the prior year. We believe this deleveraging was driven by top-line and earnings growth from recovering activities across CRE markets across most of its business segments and regions as well as the company's cash allocation toward debt reduction. For instance, in 2025 its S&P Global Ratings-adjusted revenues and earnings grew 7% and 16%, respectively, over the prior year, resulting in an 80-basis point (bp) adjusted EBITDA margin improvement on a year-over-year basis. Further, in 2025, the company used about $300 million of the $350 million in adjusted free cash it generated for debt prepayments. "We expect the company's debt load and cost of debt to decrease. This will result in lower interest expenses, improved coverage metrics, and--ultimately--better cash generation. Therefore, we expect the company's EBITDA interest coverage to be closer or slightly above 4x over 2026-2027 compared to 3x for 2025. We also expect it will generate about $400 million-$450 million annually in free cash during this period. The company remains active in managing its capital structure and related interest expenses by leveraging improved capital-market conditions to reprice its debt and addressing upcoming debt maturities. The most recent repricing was during fourth-quarter 2025, when it lowered the spread on its 2030 Tranche-1 term loan to 250 bps from 275 bps. Further, the company extended the maturity on its $1 billion revolver due in 2027 to 2030, and so it has no upcoming debt maturities until 2028, when it $650 million senior secured notes come due. "The positive outlook reflects our expectations that Cushman & Wakefield will sustain S&P adjusted leverage in the 3x-4x range while also maintaining FOCF to debt of above 10% over the next 12-24 months. We believe continued recovery in CRE activities will support financial performance and the company's efforts to sustain lower net debt levels could keep credit measures at the improved levels. "We could revise our outlook on the company to stable over the next 12 months if credit measures deteriorate such that adjusted leverage rises above 4x or FOCF to debt deteriorates to less than 10%." This could occur if: -- Operating performance weakened due to an unexpected softening of activities across CRE markets; or -- The company undertakes an aggressive financial policy, such as pursuing large debt-financed acquisitions or shareholder-friendly actions (such as large dividends or share repurchases). S&P could upgrade the company in the next 12 months if: -- The company's operating performance, as well as financial policy actions, remain in line with our expectations such that credit measures are sustained comfortably within our improved tolerances of adjusted leverage of below 4x and FOCF to debt of above 10%. DAVENN LLC: Seeks to Hire Herrin Law PLLC as Bankruptcy Counsel --------------------------------------------------------------- Davenn LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire Herrin Law, PLLC as counsel. The firm's services include: (a) providing legal advice with respect to his powers and duties as debtor-in-possession; (b) preparing and pursuing confirmation of a plan and approval of a disclosure statement; (c) preparing on behalf of the Debtors necessary applications, motions, answers, orders, reports and other legal papers; (d) appearing in Court and protecting the interests of the Debtor before the Court; and (e) performing all other legal services for the Debtor which may be necessary and proper in these proceedings. The firm can be reached through: Manolo Santiago, Esq. $400 per hour C. Daniel Herrin, Esq. $500 per hour Attorneys $300 per hour Paralegals $125 to $175 per hour The firm received a retainer in the amount of $10,000. According to court filings, Herrin Law, PLLC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code and does not hold or represent any interest adverse to the Debtor or its estate. The firm can be reached at: Manolo Santiago, Esq. HERRIN LAW, PLLC 12001 N. Central Expy, Suite 920 Dallas, TX 75243 Telephone: (469) 607-8551 Facsimile: (214) 722-0271 About Davenn LLC Davenn LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 26-31079) on February 19, 2026, with up to $50,000 in assets and $100,001 to $500,000 in liabilities. Judge Eduardo V. Rodriguez presides over the case. Manolo R. Santiago, Esq., at Herrin Law, PLLC represents the Debtor as bankruptcy counsel. DEL MONTE: Seeks to Extend Plan Exclusivity to June 26 ------------------------------------------------------ Del Monte Foods Corporation II Inc. and affiliates asked the U.S. Bankruptcy Court for the District of New Jersey to extend their exclusivity periods to file a plan of reorganization and obtain acceptance thereof to June 26 and August 26, 2026, respectively. The Debtors explain that there are 18 Debtor entities which collectively, as of the Petition Date, have over 2,700 employees, including employees who are members of collective bargaining units, and approximately $1.23 billion in long-term, secured funded debt obligations. At the outset of these Chapter 11 Cases, the Debtors focused on commencing the comprehensive marketing and Sale Process for substantially all of their assets as a going-concern business, which culminated in the Debtors' selection of the Successful Bidders for each of the business segments involving the SOTP Transactions and this Court's approval thereof on February 6. The Debtors claim that much work, both complex and challenging, remains to be done. The Debtors are in the midst of pursuing the closing of the SOTP Transactions, involving the sale of substantially all of the Debtors' assets to three different buyers. These Chapter 11 Cases, which have required navigating the competing interests of various stakeholders and multiple creditor constituencies and have involved a multiparty sale, are indisputably complex, and such circumstances strongly weighs in favor of an extension of the Debtors' Exclusive Periods. Importantly, the Debtors are not seeking the extension of the Exclusivity Periods to pressure or prejudice any of their stakeholders, but rather to support the Plan confirmation process and the Wind Down for the ultimate benefit of their stakeholder group as a whole. Continued exclusivity will enable the Debtors to focus on soliciting acceptances and obtaining confirmation (and ultimately the implementation) of the Plan to bring these Chapter 11 Cases to an orderly conclusion, without the distraction of competing plans. The Debtors note that these Chapter 11 Cases, the Debtors have made significant progress toward concluding these Chapter 11 Cases, including by filing the Plan. In the weeks ahead, the Debtors will continue the progress made thus far, including, by seeking conditional approval of the Disclosure Statement, and if granted, soliciting votes on the Plan, and finalizing and closing the SOTP Transactions. Moreover, the Debtors are not seeking an extension of their Exclusive Periods to pressure or prejudice any of their stakeholders; rather, the Debtors seek to preserve and build upon progress made to date by securing adequate time to obtain confirmation of the Plan, all while continuing to perform and pay their postpetition obligations in the ordinary course. The Debtors assert that termination of the Debtors' Exclusive Periods during this critical juncture would jeopardize the overall progress of these Chapter 11 Cases and the Debtors' efforts as a whole. If this Court were to deny the Debtors' request for an extension of the Exclusive Periods, any party-in-interest would then be free to propose a plan. Such a ruling would foster chaos and engender uncertainty and likely cause substantial harm to the Debtors' efforts in these Chapter 11 Cases, including the Plan solicitation and confirmation process, and consummation of the SOTP Transactions and Wind Down. Co-Counsel to the Debtors: Michael D. Sirota, Esq. David M. Bass, Esq. Felice R. Yudkin, Esq. COLE SCHOTZ P.C. Court Plaza North, 25 Main Street Hackensack, New Jersey 07601 Tel: (201) 489-3000 Email: msirota@coleschotz.com dbass@coleschotz.com fyudkin@coleschotz.com -and- Adam C. Rogoff, Esq. Rachael L. Ringer, Esq. Megan M. Wasson, Esq. Ashland J. Bernard, Esq. HERBERT SMITH FREEHILLS KRAMER (US) LLP 1177 Avenue of the Americas New York, New York 10036 Tel: (212) 715-9100 E-mail: Adam.Rogoff@HSFKramer.com Rachael.Ringer@HSFKramer.com Megan.Wasson@HSFKramer.com Ashland.Bernard@HSFKramer.com About Del Monte Foods Corporation II Inc. Del Monte Foods, Inc. produces, distributes, and markets branded plant-based packaged food products in the United States and Mexico. Del Monte Foods Corporation II Inc. and its affiliates filed their voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Lead Case No. 25-16984) on July 1, 2025, listing $1,000,000,001 to $10 billion in both assets and liabilities. Judge Michael B Kaplan presides over the case. Michael D. Sirota, Esq. at Cole Schotz P.C. represents the Debtor as counsel. The U.S. Trustee for Regions 3 and 9 appointed an official committee to represent unsecured creditors in the Chapter 11 cases of Del Monte Foods Corporation II, Inc. and its affiliates. The Committee retained Morrison & Foerster LLP as counsel, and Kelley Drye & Warren LLP as co-counsel. DIOCESE OF BURLINGTON: Taps Blueprint as Real Estate Advisor ------------------------------------------------------------ The Roman Catholic Diocese of Burlington, Vermont, seeks approval from the U.S. Bankruptcy Court for the District of Vermont to employ Blueprint Healthcare Real Estate Advisors, LLC as real estate advisor and SFR Realty, LLC as real estate broker. The firms will render these services: a. propose an estimate of the realistic net realizable proceeds from the sale of the properties; b. provide advice and assistance to the Diocese with respect to determining the offering price and structuring the other terms of any proposed sale; c. review with the Diocese a list of potential purchasers for the properties; d. recommend a suitable strategy to enhance the marketability of the properties; e. prepare marketing materials; f. deliver offering materials to potential purchasers; g. communicate with the Diocese regarding offers to purchase the properties; h. screen and pre-qualify all prospective purchasers of the properties i. assist in negotiating the terms of any purchase agreement; and j. participate, as necessary, in preparing for the closing of any sale. The Diocese will pay Blueprint a commission, which will be the greater of: (a) the amount that is 5% of the purchase price; or (b) $250,000 The commission is only due and payable to Blueprint upon the closing of any sale. Blueprint is solely responsible for paying any compensation owed to SFR Realty. Blueprint will receive a retainer in the amount of $25,000. Blueprint and SFR Realty are "disinterested persons" within the meaning of 11 U.S.C. Sec. 101(14), according to court filings. The firms can be reached through: Michael Segal Blueprint Healthcare Real Estate Advisors, LLC 1500 W Carroll Ave, Suite 300 Chicago, IL 60607 Tel: (312) 300-4137 Email: msegal@BlueprintHCRE.com - and - SFR Realty, LLC 2001 Broadway, Ste 400 Oakland, CA 94612 Tel: (949) 285-6141 About Roman Catholic Diocese of Burlington Vermont The Roman Catholic Diocese of Burlington sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Vt. Case No. 24-10205) on Sept. 30, 2024. In the petition signed by Reverend John Joseph McDermott, bishop, the Debtor disclosed up to $50 million in assets and up to $10 million in liabilities. Judge Heather Z. Cooper oversees the case. The Debtor tapped James Baillie, Esq., at Fredrikson & Byron, PA as bankruptcy counsel and Obuchowski Law Office as local counsel. EAGLE MIDCO: Crescent Capital BDC Marks EU1.3MM 1L Loan at 83% Off ------------------------------------------------------------------ Crescent Capital BDC, Inc. has marked its EU1,383,000 loan extended to Eagle Midco B.V. (Avania) to market at EU232,000 or 17% of the outstanding amount, according to Crescent Capital BDC's 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission on Feb. 25, 2026. Crescent Capital BDC, Inc. is a participant in a Unitranche First Lien Delayed Draw Term Loan extended to Eagle Midco B.V. (Avania). The 1L Loan accrues interest at a rate of S + 775 (plus 775 PIK), 11.87% per annum. The 1L Loan matures on July 2029. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About Eagle Midco B.V. (Avania) Eagle Midco B.V. (Avania) is a healthcare-focused services company involved in specialized clinical research and related support solutions. EAGLE MIDCO: Crescent Capital Marks EU2.8MM 1L Loan at 27% Off -------------------------------------------------------------- Crescent Capital BDC, Inc. has marked its EU2,800,000 loan extended to Eagle Midco B.V. (Avania) to market at EU2,047,000 or 73% of the outstanding amount, according to Crescent Capital's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC, Inc. is a participant in a Unitranche First Lien Term Loan extended to Eagle Midco B.V. (Avania). The 1L Loan accrues interest at a rate of E + 750 (plus 750 PIK), 9.53% per annum. The 1L Loan matures on July 2029. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About Eagle Midco B.V. (Avania) Eagle Midco B.V. (Avania) is a healthcare-focused services company involved in specialized clinical research and related support solutions. EAGLE MIDCO: Crescent Capital Marks EU3.7MM 1L Loan at 27% Off -------------------------------------------------------------- Crescent Capital BDC, Inc. has marked its EU3,705,000 loan extended to Eagle Midco B.V. (Avania) to market at EU2,708,000 or 73% of the outstanding amount, according to Crescent Capital's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission on Feb. 25, 2026. Crescent Capital BDC, Inc. is a participant in a Unitranche First Lien Term Loan extended to Eagle Midco B.V. (Avania). The 1L Loan accrues interest at a rate of S + 775 (plus 775 PIK), 11.72% per annum. The 1L Loan matures on July 2029. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About Eagle Midco B.V. (Avania) Eagle Midco B.V. (Avania) is a healthcare-focused services company involved in specialized clinical research and related support solutions. EDWARDS LOGGING: Linda Gore Named Subchapter V Trustee ------------------------------------------------------ J. Thomas Corbett, the U.S. Bankruptcy Administrator for the Northern District of Alabama, appointed Linda Gore as Subchapter V trustee for Edwards Logging, LLC. The Subchapter V trustee can be reached at: Linda B. Gore P.O. Box 1338 Gadsden, AL 35902 Telephone No. 256-546-9262 Email: linda@ch13gadsden.com About Edwards Logging LLC Edwards Logging, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ala. Case No. 26-40193) on February 25, 2026, with $500,001 to $1 million in both assets and liabilities. Judge James J. Robinson presides over the case. Frederick Mott Garfield, Esq., at Spain & Gillon, LLC represents the Debtor as legal counsel. ENVOCORE HOLDING: Crescent Capital Marks $10.3MM 2L Loan at 65% Off ------------------------------------------------------------------- Crescent Capital BDC, Inc. has marked its $10,368,000 loan extended to Envocore Holding, LLC to market at $3,666,000 or 35% of the outstanding amount, according to Crescent Capital's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC, Inc. is a participant in a Senior Secured Second Lien Term Loan extended to Envocore Holding, LLC. The 2L Loan is on non-accrual status. The 2L Loan matures on December 2028. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About Envocore Holding, LLC Envocore Holding, LLC is an energy-efficiency services and solutions provider that develops and implements performance-based projects to reduce utility consumption for commercial, institutional and government customers. EXECUTIVE DEVELOPMENT: Gets Court OK to Use Cash Collateral ----------------------------------------------------------- Executive Development Associates, Inc. received interim approval from the U.S. Bankruptcy Court for the Western District of Missouri to use cash collateral to fund operations. The court authorized the Debtor to use cash collateral to pay operating expenses in accordance with its budget until further order. The Debtor's cash collateral includes post-petition income, proceeds, and deposit accounts that may be subject to liens and security interests of creditors. Although the Debtor has not yet completed a comprehensive analysis of all liens, it believes that the U.S. Small Business Administration holds a first-position lien on the cash collateral. The SBA will be provided with protection through monthly payments of $4,111.50, commencing on April 1, 2026; and replacement liens on post-petition rents, income, and proceeds of the Debtor's property, with the same priority and extent as its pre-bankruptcy liens. The budget outlines anticipated receipts and disbursements but does not include potential recoveries of accounts receivable currently being negotiated with various clients and entities that may be holding estate funds subject to pre-petition UCC filings. These anticipated recoveries totaling substantial sums from entities such as Plastek Industries, Stripe, Sound Transit, Rand Corporation, Honeywell FMT, and others are expected by the end of March and would supplement funds available for adequate protection payments. The final hearing is set for April 15. The deadline for filing objections is on April 8. The order is available at https://is.gd/IjoiNU from PacerMonitor.com. About Executive Development Associates Inc. Executive Development Associates, Inc. provides leadership advisory and executive coaching services to senior executives, boards, and leadership teams in the United States, offering CEO and executive coaching, board and governance advisory, enterprise strategy alignment, and executive team development. The firm operates in the management consulting and executive coaching industry, serving organizational leaders seeking to improve decision-making, alignment, and sustained leadership effectiveness. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Mo. Case No. 26-40233) on February 11, 2026, with $276,922 in assets and $2,664,232 in liabilities. Bonnie Timms, owner, signed the petition. Judge Cynthia A. Norton presides over the case. Ryan A. Blay, Esq. at WM Law, PC represents the Debtor as bankruptcy counsel. EXPRESS STORES: Case Summary & Four Unsecured Creditors ------------------------------------------------------- Debtor: Express Stores, Inc. d/b/a Boney Joes 100 S. Hwy 174 Rio Vista, TX 76093 Business Description: Express Stores, Inc., doing business as Boney Joe's, operates a convenience store and gas station at Rio Vista, Texas, providing fuel, snacks, beverages, and other retail items. Chapter 11 Petition Date: March 2, 2026 Court: United States Bankruptcy Court Northern District of Texas Case No.: 26-40963 Debtor's Counsel: Joseph F. Postnikoff, Esq. ROCHELLE MCCULLOUGH, LLP 300 Throckmorton Street, Suite 520 Fort Worth, TX 76102 Tel: (817) 347-5261 Email: jpostnikoff@romclaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Qasim Saeed as president. 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/P6XO5QI/Express_Stores_Inc__txnbke-26-40963__0001.0.pdf?mcid=tGE4TAMA FINGER LAKE: Trustee Taps Chiampou Travis Besaw as Accountant ------------------------------------------------------------- Mark J. Schlant, as Chapter 11 Trustee of Finger Lake LLC, seeks approval from the U.S. Bankruptcy Court for the Western District of New York to hire Chiampou Travis Besaw & Kershner LLP as its accountant. The estate requires accounting services regarding the preparation of income tax returns. The firm's hourly rates are: Partner $475 Senior Manager $320 Manager $250 Senior $215 Staff $165 Gregg Gallson, a partner of Chiampou, disclosed in court filings that the firm neither holds nor represents any interest adverse to the Debtor and its bankruptcy estate. Chiampou can be reached through: Gregg Gallson Chiampou Travis Besaw & Kershner LLP 45 Bryant Woods North Amherst, NY 14228 Tel: (716) 630-2400 Fax: (716) 630-2401 About Finger Lake LLC Finger Lake LLC is an accommodation and food services business operating in Horseheads, New York. Finger Lake LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D.N.Y. Case No. 25-20007) on January 4, 2025. In its petition, the Debtor reports estimated assets and liabilities between $50,000 and $100,000 each. Kevin Tung, Esq. of Kevin Kerveng Tung, P.C. represents the Debtor as counsel. FLIPCAUSE INC: Committee Taps Anderson & Corroon LLP as Co-Counsel ------------------------------------------------------------------ The official committee of unsecured creditors of Flipcause, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Delaware to employ Anderson & Corroon LLP as its co-counsel. The firm's services include: a. providing legal advice regarding local rules, practices, and procedures and providing substantive and strategic advice on how to accomplish Committee goals, bearing in mind that the Court relies on co-counsel such as Potter Anderson to be involved in all aspects of each bankruptcy proceeding; b. advising the Committee with respect to its rights, powers and duties; c. advising the Committee in its consultations with the Chapter 11 Trustee, on behalf of the Debtor, relative to the administration of the Chapter 11 Case; d. advising the Committee in analyzing the claims of the Debtor's creditors and in negotiating with such creditors; e. reviewing financial and operational information furnished by the Chapter 11 Trustee to the Committee; f. investigating, and advising the Committee with respect thereto, the acts, conduct, assets, liabilities, and financial condition of the Debtor and/or insiders, the operations of the Debtor's business and the desirability of the continuance of such business, motions filed, assets of the estate and any other matters relevant to the Chapter 11 Case or to the formulation of a plan and/or exit strategy; g. assisting the Committee in its analysis of, and negotiations with, the Chapter 11 Trustee or any third-party concerning matters related to, among other things, cash collateral usage or financing to be obtained in the Chapter 11 Case and the terms of any plan of reorganization or liquidation of the Debtor; h. conferring with the Chapter 11 Trustee, Debtor's representatives, and counsel, financial advisor, and any other retained professional; i. conferring with the principals, counsel, and advisors of the Debtor's lenders; j. appearing in Court, the appellate courts, and at any meetings of creditors on behalf of the Committee in its capacity as co-counsel with S&K; k. reviewing and analyzing applications, orders, statements of operations, and schedules filed with the Court and advising the Committee as to their propriety; l. taking necessary actions to protect and preserve the interests of the Committee, including, but not limited to (i) possible prosecution of actions on its behalf, (ii) if appropriate, negotiations concerning all litigation in which the Debtor is involved, and (iii) if appropriate, reviewing and analyzing claims filed against the Debtor's estate; m. assisting the Committee in preparing and filing pleadings, motions, applications, answers, orders, reports and papers as may be necessary in furtherance of the Committee's interests and objections; n. drafting, reviewing, and commenting on drafts of documents to ensure compliance with the Local Rules, local practices, and local procedures; and o. performing such other legal services as may be required and are deemed to be in the interests of the Committee in accordance with the Committee's powers and duties as set forth in the Bankruptcy Code. The firm's current standard hourly rates are: Partners $890 - $940 Counsel $850 Associates $515 - $785 Paraprofessionals $405 In addition, the firm will seek reimbursement for expenses incurred. Aaron H. Stulman, a partner at Potter Anderson & Corroon, 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: Aaron H. Stulman, Esq. R. Stephen McNeill, Esq. Gregory J. Flasser, Esq. POTTER ANDERSON & CORROON LLP 1313 N. Market Street, 6th Floor Wilmington, Delaware 19801 Telephone: (302) 984-6000 Facsimile: (302) 658-1192 Email: astulman@potteranderson.com rmcneill@potteranderson.com gflasser@potteranderson.com About Flipcause, Inc. Flipcause Inc. is a technology company that provides a nonprofit fundraising platform and payment-processing services. The company's software enables small and medium-sized nonprofit organizations to manage online donations, donor engagement, and fundraising campaigns. Flipcause sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-12246) on December 19, 2025. In its petition, the Debtor listed between $10 million and $50 million in assets and liabilities. Honorable Bankruptcy Judge Thomas M. Horan handles the case. The Debtor is represented by Ronald S. Gellert, Esq., at Gellert Seitz Busenkell & Brown, LLC. FLIPCAUSE INC: Committee Taps Seward & Kissel as Legal Counsel -------------------------------------------------------------- The official committee of unsecured creditors of Flipcause, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Delaware to employ Seward & Kissel LLP as its counsel. The firm's services include: a. advising the Committee with respect to its rights, powers and duties; b. advising the Committee in its consultations with the Chapter 11 Trustee, on behalf of the Debtor, relative to the administration of the Chapter 11 Case; c. advising the Committee in analyzing the claims of the Debtor's creditors and in negotiating with such creditors; d. reviewing financial and operational information furnished by the Chapter 11 Trustee to the Committee; e. investigating and advising the Committee with respect to the acts, conduct, assets, liabilities, and financial condition of the Debtor and/or insiders, the operations of the Debtor's business, and the desirability of the continuance of such business, all motions filed, assets of the estates, and any other matters relevant to the Chapter 11 Case or to the formulation of a plan and/or exit strategy; f. advising the Committee with respect to any contemplated sale of the Debtor's assets, and assisting with, participating in, and attending any related auction and sale process; g. assisting the Committee in its analysis of, and negotiations with, the Chapter 11 Trustee, on behalf of the Debtor, or any third party concerning matters related to, among other things, cash collateral usage and financing to be obtained in the Chapter 11 Case and the terms of any plan of reorganization or liquidation of the Debtor; h. conferring with the Chapter 11 Trustee, Debtor's representatives, counsel, financial advisor, and other retained professionals; i. conferring with the principals, counsel and advisors of the Debtor's lenders and equity holders; j. assisting and advising the Committee with respect to its communications with the general creditor body regarding significant matters in the Chapter 11 Case; k. representing the Committee at hearings and other proceedings; l. attending the meetings of the Committee; m. reviewing and analyzing applications, orders, statements of operations, and schedules filed with the Court and advising the Committee as to their propriety; n. taking necessary actions to protect and preserve the interests of the Committee, including, but not limited to (i) possible prosecution of actions on its behalf, (ii) if appropriate, negotiations concerning all litigation in which the Debtor is involved, and (iii) if appropriate, reviewing and analyzing claims filed against the Debtor's estate; o. appearing, as appropriate, before this Court and the appellate courts, to protect the interests of the Committee before those courts; p. assisting the Committee in preparing and filing pleadings, motions, applications, answers, orders, reports and papers as may be necessary in furtherance of the Committee's interests and objections; and q. performing such other legal services as may be required and are deemed to be in the interests of the Committee in accordance with the Committee's powers and duties as set forth in the Bankruptcy Code. The firm's current standard hourly rates are: Partners $1,600 - $2,250 Counsel $1,375 - $1,900 Associates $775 - $1,375 Paraprofessionals $330 - $675 Robert J. Gayda $1,900 Catherine V. LoTempio $1,375 Shivani D. Patel $875 Robert Gayda, Esq., a partner at Seward & Kissel 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 through: Robert J. Gayda, Esq. Seward & Kissel LLP One Battery Park Plaza New York, NY 10004 Tel: (212) 574-1490 Fax: (212) 480-8421 Email: gayda@sewkis.com About Flipcause, Inc. Flipcause Inc. is a technology company that provides a nonprofit fundraising platform and payment-processing services. The company's software enables small and medium-sized nonprofit organizations to manage online donations, donor engagement, and fundraising campaigns. Flipcause sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 25-12246) on December 19, 2025. In its petition, the Debtor listed between $10 million and $50 million in assets and liabilities. Honorable Bankruptcy Judge Thomas M. Horan handles the case. The Debtor is represented by Ronald S. Gellert, Esq., at Gellert Seitz Busenkell & Brown, LLC. FORDHAM FULTON: Employs Goldberg Weprin Finkel Goldstein as Counsel ------------------------------------------------------------------- Fordham Fulton Realty, Corp. seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to hire Goldberg Weprin Finkel Goldstein LLP to serve as legal counsel. The firm will provide these services: (a) provide the Debtor with all necessary representation in connection with this Chapter 11 case, as well as the Debtor's responsibilities as debtor-in-possession; (b) represent the Debtor in all proceedings before the U.S. Bankruptcy Court and the Office of the U.S. Trustee; (c) review, prepare and file all necessary legal papers, applications, motions, objections, adversary proceedings, and reports on the Debtor's behalf; and (d) render all other legal services required by the Debtor in addressing the claims of the creditors, and selling the properties through a confirmed plan of reorganization. GWFG's hourly rates are $635 to $865 for partner time, $495 to $620 for associate time, and $85 to $125 for paralegal time. Prior to the Chapter 11 filing, GWFG received a pre-petition retainer of $35,000 from the Debtor, the unused portion of which will be applied to post-petition services. Goldberg Weprin Finkel Goldstein LLP is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: J. Ted Donovan, Esq. Goldberg Weprin Finkel Goldstein LLP 125 Park Avenue, 12th Floor New York, NY 10017 Telephone: (212) 221-5700 About Fordham Fulton Realty Corp. Fordham Fulton Realty, Corp. owns two residential apartment buildings at 480-490 E. 188th St. and 530-530 E. 169th St., Bronx, NY, with a combined current value of $40 million, and provides services related to real estate, including property management, appraisal, and other support services. Fordham Fulton Realty, Corp. in Bronx, NY, sought relief under Chapter 11 of the Bankruptcy Code filed its voluntary petition for Chapter 11 protection (Bankr. E.D.N.Y. Case No. 25-45747) on Nov. 28, 2025, listing $52,801,506 in assets and $84,426,499 in liabilities. Karan Singh as vice president, signed the petition. Judge Elizabeth S Stong oversees the case. GOLDBERG WEPRIN FINKEL GOLDSTEIN LLP serve as the Debtor's legal counsel. FORDHAM FULTON: Seeks Court Approval to Retain Trigild IVL as CRO ----------------------------------------------------------------- Fordham Fulton Realty, Corp. seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to hire Ian Lagowitz of Trigild IVL to serve as Chief Restructuring Officer. Mr. Lagowitz will provide these services: (a) oversee day-to-day operations of the Properties, including property management, collection of rents, authorization of expenditures and other administrative tasks; (b) make sole access and control over the debtor-in-possession operating account; (c) give direction over all repairs to the Properties, including the determination of what repairs, assessments, or evaluations are needed and the implementation thereof; (d) assist the Debtor in the preparation of cash requirements, cash forecasts and financial projections; (e) formulate and execute cash conservation strategies; (f) provide advice on the formulation and, if requested, execution of the overall strategy relating to pursuit of sale opportunities the Debtor is currently contemplating; (g) assist in negotiations with the lender, creditors, and other parties-in-interest as required in accomplishing the aforementioned goals of the Debtor; (h) assist with such other matters as may be requested that fall within Trigild's expertise and pursuant to the direction of the Debtor and the Court; (i) prepare the Debtor's monthly operating reports and other financial reports or statements required by the Bankruptcy Court, the United States Trustee, the Bankruptcy Code and/or the Bankruptcy Rules; and (j) provide testimony before the Court with respect to the foregoing, to the extent deemed appropriate or necessary by the Debtor, consistent with the customary role of a Chief Restructuring Officer, and consistent with the Engagement Letter. Mr. Lagowitz will receive a minimum monthly fee of $10,000 and an hourly rate of $350. Trigild IVL 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: Ian Lagowitz Trigild IVL 24 Church Street Montclair, NJ 07042 About Fordham Fulton Realty Corp. Fordham Fulton Realty, Corp. owns two residential apartment buildings at 480-490 E. 188th St. and 530-530 E. 169th St., Bronx, NY, with a combined current value of $40 million, and provides services related to real estate, including property management, appraisal, and other support services. Fordham Fulton Realty, Corp. in Bronx, NY, sought relief under Chapter 11 of the Bankruptcy Code filed its voluntary petition for Chapter 11 protection (Bankr. E.D.N.Y. Case No. 25-45747) on Nov. 28, 2025, listing $52,801,506 in assets and $84,426,499 in liabilities. Karan Singh as vice president, signed the petition. Judge Elizabeth S Stong oversees the case. GOLDBERG WEPRIN FINKEL GOLDSTEIN LLP serve as the Debtor's legal counsel. FORDHAM LANDING: UCC Public Auction Sale Scheduled for March 18 --------------------------------------------------------------- In accordance with applicable provisions of the Uniform Commercial Code as in effect in the State of New York and all other applicable jurisdictions, Fordham North Preferred Investor LLC, a New York limited liability company, as successor-in-interest to CPIF MRA, LLC, a Delaware limited liability company (the "Secured Party"), will sell at one or more public auctions all limited liability company interests held by Fordham Landing Preferred LLC a Delaware limited liability company ("Fordham Landing Preferred") and Fordham Landing Preferred Sponsor LLC, a Delaware limited liability company ("Sponsor", and together with Fordham Landing Preferred, the "Pledgors") in Fordham Landing Preferred, MDBZJGGS, LLC, a New York limited liability company ("MDBZJGGS"), DS Fordham Landing 2, LLC, a Delaware limited liability company ("DS 2"), and DS Fordham Landing 4 LLC, a Delaware limited liability company ("DS 4", and together with Fordham Landing Preferred, MDBZJGGS, DS 2, and DS 4, the "Pledged Entities"; such interests, collectively, the "Equity Interests"). The Equity Interests secure indebtedness owing by Fordham Landing Preferred to Secured Party in a principal amount of not less than $21,026,359.84 plus unpaid interest (including default rate interest), attorneys' fees and other charges including the costs to sell the Equity Interests ("Debt"). The public auction(s) and sale(s) will be held at 10:00 a.m. (EDT) on Wednesday, March 18, 2026 (the "Public Sale") by virtual bidding via Zoom via the following Zoom meeting link: htps//bit.ly/FordhamCSX (case sensitive), meeting ID: 839 5272 2069, passcode: 119512 (or by telephone at +1-646-931-3860 (US), using same meeting ID and passcode). The Public Sale will be conducted by auctioneer Matthew D. Mannion, of Mannion Auctions, LLC. At or prior to the Public Sale, Secured Party reserves the right to: (i) credit bid up to the amount of the Debt: (ii) set minimum price(s) for the Equity Interests; (iii) reject bids, in whole or in part; (iv) cancel or adjourn the Public Sale, in whole or in part; and (v) establish the terms and conditions of the Public Sale, including scheduling one or more auctions for the Equity Interests ("Terms of Public Sale"). Secured Party's understanding, without making any representation or warranty as to accuracy or completeness, is that the principal assets of each of the Pledged Entities are the parcels of real property detailed below: Location Pledged Entities 2371 Exterior St, Bronx, NY (Block 3244, Lot 130) DS2 2391 & 2401 Exterior St., Bronx, NY (Block 3244, Lots 145160) DS4 Landing Road a/k/a 2444 Exterior St., Bronx, NY (Block 3244, Lot 1) MDBZJGGS West 192nd St. a/k/a Exterior St., Bronx, NY (Block 3245, Lot 3) MBDBZJGGS Prospective and winning bidder(s) will be required to represent in writing to Secured party that they will adhere to the Terms of Public Sale and are purchasing the Equity interests for their own account, not acquiring them with a view toward the sale or distribution thereof and will not resell the Equity Interests unless pursuant to a valid registration under applicable federal and/or state securities laws, or a valid exemption from the registration thereunder. The Equity Interests have not been registered under such securities laws and cannot be sold by the winning bidder(s) without registration or application of a valid exemption. The Equity Interests will be offered for sale at the Public Auction "as-is, where-is", and there are no express or implied warranties or representations relating to title, possession quiet enjoyment, merchantability, fitness, or the like as to the Equity Interests. THIS NOTICE DOES NOT CONSTITUTE AN OFFER TO SELL, NOR THE SOLICITATION OF AN OFFER TO BUY, THE EQUITY INTERESTS TO OR FROM ANYONE IN ANY JURISDICTION IN WHICH SUCH AN OFFER OR SOLICITATION IS NOT AUTHORIZED. Parties interested in bidding on the Equity Interests must contact Stephen Schwalb at NEWMARK ("Broker"), Secured Party's Broker, at +1-469-467-2084 or stephen.schwalb@nmrk.com. Upon execution of a standard non-disclosure agreement, additional documentation and information will be available. Interested parties who do not contact Broker and register before the Public Sale may not be permitted to participate in bidding at the Public Sale. Additional information can be found at https://tinyurl.com/2ha34ewc. FRANCESCA'S ACQUISITION: Adds $22M New Inventory to Store Closings ------------------------------------------------------------------ Shoppers are finding unprecedented discounts and racks of newly arrived inventory at francesca's(R) 254 remaining stores. In addition to the $50 million in inventory already on sale, Tiger Group, GA Group and SB360 Capital Partners are delivering $22 million in new items to the boutique-inspired stores and outlets. Discounts range from 30 to 60 percent off. The three companies are selling these locations to the bare walls as part of the specialty retail brand's previously announced Chapter 11 bankruptcy process. "Thousands of distinctive accessories, gifts and apparel items are flowing into francesca's stores from warehouse distribution centers and the retailer's e-commerce operations, which ceased earlier this month," said Tiger Group Member Michael McGrail. "Shoppers who have already visited their local francesca's boutique or outlet should make a return trip ASAP. This is a rare opportunity to find amazing deals, with spring social events right around the corner." The new arrivals include: -- Sweaters and cardigans -- Blouses, skirts, and loungewear -- Denim jackets and skirts -- Black dresses, party and floral dresses, and wedding guest dresses -- Rompers and jumpsuits -- Rings, earrings, necklaces, and bracelets -- Diverse collections of gifts, handbags, and accessories. Furniture and fixtures from francesca's corporate offices and warehouses are also available for sale. The full store list is available at: https://francescas.com/store-locator About Francesca's Acquisition, LLC Francesca's Acquisition, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. New Jersey Case No. 26-11312) on February 5, 2026. At the time of the filing, the Debtors had estimated assets of between $10,000,001 and $50 million and liabilities of between $50,000,001 and $100 million. Judge Mark Edward Hall oversees the case. Mandelbaum Barrett PC is Debtor's legal counsel. FREEPORT LNG:S&P Affirms 'B-' Issuer Credit Rating, Outlook Stable ------------------------------------------------------------------ S&P Global Ratings affirmed its 'B-' issuer credit rating on Freeport LNG Investments LLLP (FLNGI) and its 'B-' issue-level rating on its debt. S&P said, "The stable outlook reflects our expectation that FLNGI will maintain adequate liquidity, despite its stand-alone S&P Global Ratings-adjusted leverage in the 9x area, for the next 12 months. We expect the company will receive stable distributions from FLEX Intermediate Holdco (FLEX-IH) to service its debt. "S&P Global Ratings has identified an error that dates back to November 2021 in how we derived our credit ratings on Freeport LNG Investments LLLP (FLNGI) and its senior secured debt. As discussed below, our issuer credit rating on FLNGI should have been 'B-' rather than the 'B' rating we assigned at the time. Our issue-level rating on FLNGI's senior secured term loans issued in November 2021 was similarly overstated by one notch and should have been 'B' instead of the 'B+' rating we assigned at the time. "As explained below, the correction of these errors does not affect any of our current ratings on FLNGI or its senior secured term loan. We also note that our November 2021 research update incorrectly identified the cash flow interruption score as neutral instead of positive, although our underlying analysis was based on the correct score. "The errors that occurred in November 2021 involved a misapplication of our criteria and do not affect any of our current ratings on the entity. We typically rate the general partner (GP) two to five notches below our issuer credit rating on the master limited partnership (MLP) when they do not constitute a group, as is the case with FLNGI. The number of notches between our rating on the GP and our rating on the MLP reflects how we assess (positive, neutral, or negative) certain characteristics such as cash flow interruption risk, stand-alone debt leverage, and cash flow diversity. "In 2021, our 'B' issuer credit rating on FLNGI (the GP) reflected a three-notch downward adjustment from our 'BB' issuer credit rating on FLEX-IH (the MLP). The notching adjustment failed to incorporate a key aspect of our Methodology: Master Limited Partnerships And General Partnerships criteria, which states that if the GP's leverage is greater than 4.75x, our stand alone credit profile (SACP) on the GP must be at least five notches below our SACP on the MLP and is capped at 'b+', while the results of our notching cannot lower our SACP on the GP below 'b-'. "Because we forecast stand-alone leverage of between 7x and 8x, the ultimate rating outcome should have been five notches below our rating on the MLP. The November 2021 article also incorrectly stated our cash flow interruption risk assessment as neutral when it should have been positive. Therefore, in the November 2021 article, we should have assigned a 'B-' issuer credit rating to the company and a 'B' issue-level rating (reflecting the '2' recovery rating we assigned to its debt). "That said, the correction of the error does not affect our current assessment of the entity's credit profile. This is because our issuer credit rating on FLNGI has remained 'B-' since we downgraded it in July 2022. The company also fully refinanced the debt it issued in November 2021 in January 2026. "Our ratings and forecast on FLNGI remain unchanged. We continue to view the company's cash flow interruption risk and diversity as neutral and its stand-alone leverage as negative. While this reflects a four-notch downward revision from our rating on the MLP, we appropriately reflect a five-notch downward revision subject to a 'B-' floor and 'B+' cap, per our criteria. "Our view of FLNGI's cash flow interruption risk reflects that it relies on equity cures to fund its debt service during prolonged periods of distress and lacks any structural enhancements at the MLP that provide it with protection against distribution cuts. However, the $90 million debt service reserve letter of credit facility partially mitigates this risk. Despite the three trains, which include different ownership stakes and off-takers, we assess the FLNGI's cash flow diversity as neutral due to its lack of redundancy, given the singular gas inlet into the terminal. Because we expect its leverage will remain materially above 4.75x, the likely path for a higher rating would require the company to maintain stand-alone debt leverage of less than 4.0x over our forecast period or for the MLP to be upgraded by two notches. "The stable outlook on FLNGI reflects our expectation it will maintain adequate liquidity despite stand-alone S&P Global Ratings-adjusted leverage in the 9x area over the next 12 months. We also expect the company will receive stable distributions from FLEX-IH to fully service its debt." S&P could lower its rating on FLNGI if: -- FLEX-IH curtails its distributions or S&P lowers its rating on FLEX-IH; or -- S&P anticipates the company will face liquidity shortfalls and its view of the likelihood of support via equity cures declines. S&P could raise its rating on FLNGI if it: -- Expect S&P's will maintain stand-alone leverage of less than 4x over its forecast period; or -- S&P raises its rating on FLEX-IH by at least two notches, which would also stem from a material reduction in leverage at FLEX-IH. GBS BARR: Case Summary & 13 Unsecured Creditors ----------------------------------------------- Debtor: GBS Barr Holdings LLC Bulldog Auto Detailing Bulldog Auto Logistics Bulldog Auto Detailing Wholesale Pressure Washing Services 2202 W Adams Ave Temple, TX 76504 Business Description: GBS Barr Holdings LLC, also known as Bulldog Auto Detailing, provides automotive detailing, paint protection, and vehicle enhancement services, including ceramic coating, paint protection film, window tinting, and vinyl wraps, operating primarily in Central Texas and select locations in South Dakota. Chapter 11 Petition Date: March 2, 2026 Court: United States Bankruptcy Court Western District of Texas Case No.: 26-60193 Judge: Hon. Michael M Parker Debtor's Counsel: Kimberly Nash, Esq. LAW OFFICE OF KIMBERLY NASH P.C. PO Box 162932 Austin TX 78716-2932 Email: kimberly@kimberlynashlaw.com Estimated Assets: $50,000 to $100,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Gram B. Short as owner. A full-text copy of the petition, which includes a list of the Debtor's 13 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/HEMYGCI/GBS_Barr_Holdings_LLC__txwbke-26-60193__0001.0.pdf?mcid=tGE4TAMA GEE CONCEPTS: Gets Interim OK to Use Cash Collateral Until March 31 ------------------------------------------------------------------- Gee Concepts, LLC received interim approval from the U.S. Bankruptcy Court for the District of Arizona to use cash collateral to fund operations. The court authorized the Debtor to use cash collateral from Feb. 23 to March 31 in accordance with its monthly budget, subject to a 10% variance. The Debtor intends to use cash subject to security interests of creditors in order to continue operating its business, Tru Burger Co., a family-owned gourmet burger restaurant. As of the petition date, the Debtor held approximately $3,205 in bank accounts and additional inventory assets including alcohol, pantry goods and prepared food, bringing the total estimated cash collateral and related assets to roughly $11,405 when including modest amounts of office furniture, equipment, and an internet domain. The Debtor believes that Midwest Regional Bank holds the primary secured claim against this collateral based on a first-position UCC-1 financing statement filed in 2017 and continued in 2022. Midwest's total claim is approximately $179,000 and is significantly undersecured relative to the collateral value. Midwest may also assert a second claim of approximately $102,457 based on a separate UCC filing. Other entities that may claim interests in certain collateral include the U.S. Small Business Administration, with an estimated claim of $146,408; Kapitus LLC, with an estimated claim of $28,000; and YouLend US, LLC, which is believed to hold purchase-money security interests in specific equipment, including a point-of-sale system. As protection, Midwest and YouLend US will receive monthly payments of $300 and $600, respectively. Midwest will also receive replacement liens on the Debtor's post-petition assets, including cash and receivables, with the same validity, priority, and extent up to the amount of any decline in the value of its security interest as of the petition date. The order is available at https://is.gd/30KJHN from PacerMonitor.com. The final hearing is set for March 25. The deadline for filing objections is on March 23. About Gee Concepts LLC Gee Concepts, LLC owns a gourmet burger restaurant. Gee Concepts filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Ariz. Case No. 26-01629) on February 23, 2026, listing up to $50,000 in assets and up to $1 million in liabilities. Judge Brenda K. Martin oversees the case. Ronald J. Ellett, Esq., at Ellett Law Offices, represents the Debtor as bankruptcy counsel. GEE CONCEPTS: Hires Ellett Law Offices PC as Bankruptcy Counsel --------------------------------------------------------------- Gee Concepts, LLC seeks approval from the U.S. Bankruptcy Court for the District of Arizona to hire Ellett Law Offices, PC as counsel. The firm will provide these services: (a) examine and determine the rights and title of the Debtor in and to certain property; (b) prepare all legal documents, the Debtor's Chapter 11 Subchapter V Plan of Reorganization, and Disclosure Statement; (c) investigate, examine into, and determine the validity of any and all liens appearing to be claimed during the administration of said estate; (d) investigate and determine the validity of any and all claims that may be filed against the estate; (e) prepare all accounts, reports, and other instruments required in the administration of said estate; (f) generally, assist the Debtor in all matters of legal nature arising in the administration of said estate and advise with regard thereto; and (g) assist the Debtor in the collection of all accounts receivable owed to it. The firm will be paid at these rates: Ronald J. Ellett $595 per hour Scott Reynolds $395 per hour Associates $255 per hour Paralegals $235 per hour Ronald Ellett, Esq., an attorney at Ellett Law Offices, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Ronald Ellett, Esq. Ellett Law Offices, PC 2999 N. 44th St. Phoenix, AZ 85018 Telephone (602) 235-9510 About Gee Concepts LLC Gee Concepts, LLC, doing business as Tru Burger Co., sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 26-01629) on February 23, 2026, with up to $50,000 in assets and $500,001 to $1 million in liabilities. Judge Brenda K. Martin presides over the case. Ronald J. Ellett, Esq., at Ellett Law Offices, P.C. represents the Debtor as bankruptcy counsel. GENER8 LLC: Crescent Capital Marks $1.3MM 1L Loan at 76% Off ------------------------------------------------------------ Crescent Capital BDC, Inc. has marked its $1,316,000 loan extended to Gener8, LLC to market at $318,000 or 24% of the outstanding amount, according to Crescent Capital BDC's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC, Inc. is a participant in a Senior Secured First Lien Revolver extended to Gener8, LLC. The 1L Loan is on non-accrual status. The 1L Loan matures on Feb. 2026. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About Gener8 LLC Gener8 LLC provides engineering services. The Company offers product design, and development, prototyping, manufacturing, and supply chain management services. Gener8 serves clients in the United States. GENER8 LLC: Crescent Capital Marks $264,000 1L Loan at 62% Off -------------------------------------------------------------- Crescent Capital BDC, Inc. has marked its $264,000 loan extended to Gener8, LLC to market at $101,000 or 38% of the outstanding amount, according to Crescent Capital's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC, Inc. is a participant in a Senior Secured First Lien Term Loan extended to Gener8, LLC. The 1L Loan is on non-accrual status. The 1L Loan matures on Feb. 2026. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About Gener8 LLC Gener8 LLC provides engineering services. The Company offers product design, and development, prototyping, manufacturing, and supply chain management services. Gener8 serves clients in the United States. GENER8 LLC: Crescent Capital Marks $6.1MM 1L Loan at 62% Off ------------------------------------------------------------ Crescent Capital BDC, Inc. has marked its $6,131,000 loan extended to Gener8, LLC to market at $2,340,000 or 38% of the outstanding amount, according to Crescent Capital's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC, Inc. is a participant in a Senior Secured First Lien Term Loan extended to Gener8, LLC. The 1L Loan is on non-accrual status. The 1L Loan matures on Feb. 2026. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About Gener8, LLC Gener8 LLC provides engineering services. The Company offers product design, and development, prototyping, manufacturing, and supply chain management services. Gener8 serves clients in the United States. GLOBAL JOINT: Files Amendment to Disclosure Statement ----------------------------------------------------- Global Joint Venture Inc. submitted an Amended Disclosure Statement describing Amended Chapter 11 Plan dated February 23, 2026. While the Debtor was unable to restructure its underlying mortgage debt with Emerald Creek Capital 3, LLC (the "Lender") prior to bankruptcy, the parties subsequently came to agreement to pursue an auction sale process during the bankruptcy case. The Debtor obtained entry of a Bidding Procedures Order on October 14, 2025 (the "Bid Procedures") and thereafter the Debtor noticed an auction sale of its property located at 139-141 Bowery Street (the "Property"). Ultimately, however, no Qualifying Bids were received and the Lender's ensuing credit bid in the sum of $47,373,000 (equal to the allowed amount of its secured claim) was accepted as the highest and best bid for the Property. The Bankruptcy Court approved the Lender's Credit Bid at a hearing held on February 18, 2026. A Sale Order authorizing the Debtor to sell the Property to the Lender pursuant to Sections 363(b) and (f) of the Bankruptcy Code. The Debtor has updated this Disclosure Statement to reflect approval of the Sale to the Lender. The Debtor did not receive any Qualifying Bids by the bidding deadline, and the Debtor designated the Lender as the high bidder based upon its final Credit Bid in the sum of $47,393,000. The Amended Disclosure Statement does not alter the proposed treatment for unsecured creditors and the equity holder: * Class 2 consists of Unsecured Claims. Based upon the Lender Contribution, the holders of Allowed Class 2 Unsecured Claims shall be paid a pro rata dividend from the GUC Fund. The Debtor projects that the allowed total Class 2 pool of Unsecured Claims is approximately $72,877 and, thus, general creditors are projected to receive a pro rata dividend of approximately 13.7% from the GUC Fund. The Class 2 Claims of Allowed General Unsecured Creditors are impaired and are eligible to vote on the Plan. * Class 3 consists of the Equity Interests in the Debtor. No payments shall be made on account of Equity Interests, and Equity Interests will be cancelled following the Effective Date with due regard as to any tax ramifications. Class 3 Equity Interests are impaired and eligible to vote on the Plan. The Plan shall be implemented and funded through the Sale and transfer of the Property to the Lender based on the Lender's Credit Bid. The Credit Bid shall be confirmed at the Confirmation Hearing and incorporated as part of the Confirmation Order. The Sale shall close on a post-confirmation basis, whereupon the Property shall be transferred and conveyed to the Lender. The Confirmation Order shall contain appropriate provisions authorizing and directing the Debtor or the Disbursing Agent to execute and deliver all Property Transfer Instruments, and to perform any act that is necessary, or may be requested by the Lender, for the consummation of the Plan on the Effective Date. A full-text copy of the Amended Disclosure Statement dated February 23, 2026 is available at https://urlcurt.com/u?l=1dClrf from PacerMonitor.com at no charge. Global Joint Venture Inc. is represented by: Goldberg Weprin Finkel Goldstein LLP J. Ted Donovan, Esq. 125 Park Avenue, 12th Floor New York, NY 10017 Telephone: (212)221-5700 About Global Joint Venture Global Joint Venture Inc. owns a mixed-use commercial condominium situated at 139-141 Bowery in New York, NY. Global Joint Venture Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-42139) on May 1, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million each. Honorable Bankruptcy Judge Nancy Hershey Lord handles the case. The Debtor is represented by Kevin Nash, Esq. at GOLDBERG WEPRIN FINKEL GOLDSTEIN LLP. GOLDEN IMAGE: Taps Richard S. Feinsilver as Bankruptcy Counsel -------------------------------------------------------------- Golden Image Graphics Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to hire Richard S. Feinsilver, Esq. to handle its Chapter 11 case. The firm will be paid at these hourly rates: Richard Feinsilver, Attorney $500 Legal Assistants $100 In addition, the firm will seek reimbursement for expenses incurred. Prior to petition date, the firm received a retainer of $17,500 from the Debtor. Richard S. Feinsilver, Esq., disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Richard S. Feinsilver, Esq. One Old Country Road, S 347 Carle Place, NY 11514 Tel: (516) 873-6330 Fax: (516) 873-6183 Email: feinlawny@yahoo.com About Golden Image Graphics Inc Golden Image Graphics Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 26-70454) on February 1, 2026, listing $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Sheryl P Giugliano presides over the case. Richard S. Feinsilver, Esq. serves as the Debtor's counsel. GOLDEN TRIANGLE: Taps William R Loubriel Velez as Special Engineer ------------------------------------------------------------------ Golden Triangle Realty, SE seeks approval from the U.S. Bankruptcy Court for the District of Puerto Rico to employ William R. Loubriel Velez, a practicing licensed engineer in Puerto Rico, as special engineer. Mr. Loubriel will render engineering services related to the cost to complete inspection to be performed of the Vistas de San Juan and Golden Triangle Condominiums. Mr. Loubriel will charge $50 per hour for his services. Mr. Loubriel received a post-petition retainer in this case in the amount of $500. Mr. Loubriel assured the court that he is a "disinterested person", as defined in 11 U.S.C. Sec. 101(14). Mr. Loubriel can be reached at: William R. Loubriel Velez 29W039 Barnes Ave West Chicago, IL 60185 About Golden Triangle Realty Golden Triangle Realty S.E. is engaged in activities related to real estate. Golden Triangle Realty, S.E. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D.P.R. Case No. 24-04514) on Oct. 21, 2024. In the petition signed by David Santiago Martinez, president, the Debtor disclosed $19,811,659 in assets and $47,255,382 in liabilities. Judge Maria De Los Angeles Gonzalez oversees the case. The Debtor tapped Alexis Fuentes-Hernandez, Esq., as counsel and Albert Tamarez Vasquez, CPA, at Tamarez CPA, LLC as accountant. GREEN RIVER: Stapleton Group's Jake Diiorio Named as Receiver ------------------------------------------------------------- The Hon. Amy E. Potter of the U.S. District Court for the District of Oregon, Portland Division, entered an agreed order directing the appointment of Jake Diiorio and Stapleton Group as receiver for Green River Holdings, LLC. American AgCredit requested the appointment of a receiver. The Court entered a default judgment against the Defendant that it is insolvent or is in imminent danger of insolvency. The assets of Green River, including but not limited to all interests in and to real property and all tangible and intangible personal property owned by Green River, wherever located, including but not limited to inventory, rents, income, profits, licenses, accounts, intellectual property, interests, claims, equipment, and all other property and proceeds thereof, including all business operations associated with Green River, are in danger of being materially injured or impaired as a result of, among other things, Green River's defaults under certain agreements with the Plaintiffs, and failure to pay the balances due and owing to Plaintiffs. Receivership is necessary and appropriate to protect the Property and to conserve and protect the interests of the Green River's partners or creditors. Plaintiffs assert that, as of September 30, 2025, the Defendants owed a total of $28,901,878.10. Jake Diiorio and Stapleton Group, a part of J.S. Held, are not interested in this action and are competent, eligible and qualified to serve as Receiver in this case. The Receiver is appointed as a general receiver with exclusive and complete possession, control, and management authority over Green River's business and all its Property, commonly referred to as: -- 39550 NW Chalmers Lane, Cornelius, OR 97113; -- 39200 NW Chambers Lane, Cornelius, OR 97113; -- 6795 NW Roy Road, Cornelius, OR 97113; -- 41200 NW Reiling Road, Forest Grove, OR 97116; and -- No Situs, Forest Grove, OR 97116. The Court ruled that the Receiver is appointed as a general receiver with exclusive and complete possession, control, and management authority over Green River's business and all its Property, with the power and authority to collect, control, manage, conserve, protect, and improve the Property as deemed necessary or appropriate in Receiver's sole discretion in aid of the reorganization and/or sale of the business, including, if necessary, the liquidation of the Property. The Receiver shall secure and manage the Property, review the books and records, investigate the operations and financial affairs of the business, and take such other actions as may be deemed appropriate by the Receiver. The Court further ruled that any utility company providing services to the Property, including gas, electricity, water, sewer, trash collection, telephone, communications, or similar services, shall be prohibited from discontinuing service to the Property based upon unpaid bills incurred by Green River. Further, such utilities shall transfer any deposits held by the utility to the exclusive control of such Receiver and be prohibited from demanding that the Receiver deposit additional funds in advance to maintain or secure such services. New accounts under the name of the receivership shall be established within 30 business days. Utility companies are prohibited from discontinuing service while the new receivership accounts are in the process of being established. Green River provide to Receiver, within two (2) business days of service of this Order, a written summary of the current status of all insurance and taxes, and that Green River not cancel any existing insurance coverage with respect to the Property or any portion of the Property without Receiver's express written consent, unless Green River has replaced that coverage with equal or greater coverage from insurers acceptable to Receiver. The Receiver shall file a Notice of Compensation of Professional, which shall describe the time spent and the billing rates of the receiver and any other professional person who performed work to be compensated, a description of the services performed, and a detailed list of expenses, with a statement of the amounts requested. The Receiver and their agents are entitled to rely on all outstanding rules of law and Court orders and shall not be liable to anyone for their own good faith compliance with any order, rule, law, judgment, or decree. The court further ruled that this appointment of Receiver is effective as of the date of this Order, and the Court waives the posting of a bond or other security. About Green River Holdings LLC Green River Holdings LLC, a foreign limited liability company that owns the property referred to as 39550 NW Chalmers Lane, Cornelius, Oregon 97113, 39200 NW Chambers Lane, Cornelius, Oregon, 97113, 6795 NW Roy Road, Cornelius, Oregon 97113, 41200 NW Reiling Road, Forest Grove, 97116, and No Situs, Forest Grove 97116. Green River 25 is facing a receivership case captioned as American AgCredit v. Edmundson Inc. Dba Arbo Valley, Green River Holdings LLC, Case No. 3:25-cv-00979 (D. Or.), before the Hon. Amy E. Potter. The case was filed on June 6, 2025. Defendant Edmundson Land, LLC is represented by: Alex Charles Carroll, Esq. Schwabe, Williamson & Wyatt Tel; 503-796-2945 E-mail: acarroll@schwabe.com Jessica Zerpoli, Esq. Schwabe, Williamson & Wyatt Tel: 503-796-2057 E-mail: jzerpoli@schwabe.com Craig G. Russillo, Esq. Schwabe Williamson & Wyatt, P.C. Tel: 503-796-2092 E-mail: crussillo@schwabe.com GULFSIDE SUPPLY: Moody's Lowers CFR to B3, Outlook Remains Stable ----------------------------------------------------------------- Moody's Ratings downgraded Gulfside Supply, Inc.'s dba Gulfeagle Supply (Gulfeagle) corporate family rating to B3 from B2, probability of default rating to B3-PD from B2-PD, and the rating on the company's senior secured bank credit facility to B3 from B2. The outlook remains stable. The downgrade to B3 reflects Gulfeagle's high leverage, weak interest coverage and a deterioration in liquidity and limited covenant headroom. Moody's expects deleveraging to significantly below 6x debt/EBITDA from 7x at December 31, 2025 will be difficult in the next 12 – 18 months, given intense competition from much larger and better capitalized distributors that constrains price increases and limits margin expansion. In addition, ongoing economic uncertainties and weak consumer confidence are weighing on US residential new construction and repair and remodeling, key demand drivers for the company. Gulfeagle has limited access to its cash on hand and $150 million senior secured revolving credit facility (RCF) due June 2029 given recently amended financial covenants. Gulfeagle must maintain $85 million of minimum liquidity through September 30, 2027, which includes both cash on hand and RCF availability. As of December 31, 2025, excess liquidity was only $30 million, which pales in comparison to the company's fixed payments of nearly $60 million. Fixed payments include cash interest, term loan amortization and current portion of its operating lease commitments. The amended maximum leverage covenant is 6.25x though June 30, 2026, with step downs thereafter. Absent a material strengthening of current industry conditions, cushion under its covenants will reduce as the threshold tightens. RATINGS RATIONALE Gulfeagle's B3 CFR reflects the company's expected high leverage of about 6x debt/EBITDA at year-end 2026, despite projected debt reduction. Moody's projects low interest coverage of around 2.5x EBITDA/interest expense over the next 18 months. Gulfeagle is a small distributor based on revenue and operates in the competitive distribution sector, with reliance on roofing shingles, roofing-related products and other commodity-like products, which tend to be easily available from other distributors. Given recent consolidation in the distribution space for building products in the US, Moody's expects competitive pressures will intensify in a subdued market environment. Gulfeagle's leveraged capital structure is mitigated by its decent operating performance, with its EBITDA margin sustained in the range of 7% - 9% over the next 18 months. Industry conditions were softer in 2025, reflecting reduced inventory restocking activity, lower storm-driven demand, and a weaker repair-and-remodeling backdrop, which limited volume and pricing tailwinds for roofing distributors. For 2026, Moody's expects demand to remain subdued but more stable, supported by the largely non-discretionary nature of roof repair and replacement, even as competitive intensity continues to constrain meaningful margin expansion. Gulfeagle is able to generate free cash flow in the range of $25 - $35 million for 2026, with excess cash used for debt reduction. Gulf eagle has no material debt maturities over the next three years. The stable outlook reflects Moody's expectations that excess cash will be used for debt reduction, resulting in leverage remaining below 7x debt/EBITDA over the next 12-18 months. The ability to generate free cash flow, no significant maturities and Moody's expectations that the company will address the tight headroom under its financial covenants, also support the stable outlook. The B3 rating assigned to the senior secured bank debt, which is at the same level as the B3 corporate family rating (CFR), results from its status as the largest portion of debt in Gulfside's capital structure. The senior secured bank debt consists of the $150 million RCF due June 2029 and a $600 million (as of December 31, 2025) senior secured term loan due June 2031. The RCF and term loan are pari passu with each other. Each has a first lien on substantially all assets. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Upwards rating movement could occur if end markets remain supportive of long-term organic growth such that debt/EBITDA is sustained below 6x and EBITDA/interest expense remains above 2.5x. Significant improvement in liquidity would also support an upgrade. A ratings downgrade could occur if debt/EBITDA remains above 7x and EBITDA/interest stays below 1.5x. Negative ratings pressure may also develop if the company liquidity remains constrained or adopts increasingly aggressive acquisition or shareholder-return initiatives. Gulfeagle, headquartered in Tampa, Florida, is a national distributor of primarily roofing-related products. The Resch family owns 100% of Gulfeagle. Its revenue for the last 12 months ending December 31, 2025 was $1.4 billion. The principal methodology used in these ratings was Distribution and Supply Chain Services published in November 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. H&S COMMERCIAL: Case Summary & 15 Unsecured Creditors ----------------------------------------------------- Debtor: H&S Commercial & Industrial Supplies and Services LLC 2122 Hand Avenue Mobile, AL 36612 Business Description: H&S Commercial & Industrial Supplies and Services LLC provides supply solutions and related services, including safety, staffing, construction support, and mobile housing, primarily in Mobile, Alabama, with additional locations in Alabama and Mississippi, serving industrial, commercial, and security clients. The certified minority and woman-owned company emphasizes safety and long-term client relationships while delivering supply distribution, services, and project support across multiple industries. Chapter 11 Petition Date: February 27, 2026 Court: United States Bankruptcy Court Southern District of Alabama Case No.: 26-10564 Judge: Hon. Jerry C Oldshue Debtor's Counsel: Richard Scott Williams, Esq. RUMBERGER KIRK & CADLWELL, PA 2001 Park Place North | Suite 1300 Birmingham, AL 35203 Tel: (205) 572-4926 Fax: (205) 326-6786 Email: swilliams@rumberger.com Estimated Assets: $500,000 to $1 million Estimated Liabilities: $1 million to $10 million The petition was signed by Monique Michele Rogers as CEO and majority director. A full-text copy of the petition, which includes a list of the Debtor's 15 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/WJQRVNQ/HS_Commercial__Industrial_Supplies__alsbke-26-10564__0001.0.pdf?mcid=tGE4TAMA HOME TEAM: Employs Mechelle D. Penton as Accountant --------------------------------------------------- Home Team Medical Clinic, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Louisiana to hire Mechelle D. Penton, a certified public accountant, to serve as accountant. Ms. Penton will provide these services: (a) prepare monthly operating reports required to be filed by the Debtor; (b) prepare other financial documents necessary to confirm the case; and (c) perform all accounting and financial work necessary for the successful completion of the case. Ms. Penton will receive an hourly rate of $150 for the owner and $60 for staff. Mechelle D. Penton 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: Mechelle D. Penton, CPA 2008 Washington Street Franklinton, LA 70438 Telephone: (985) 839-5220 About Home Team Medical Clinic LLC Home Team Medical Clinic, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. E.D. La. Case No. 26-10240) on February 2, 2026, with $50,001 to $100,000 in assets and $500,001 to $1 million in liabilities. Judge Meredith S. Grabill presides over the case. Robin R. DeLeo, Esq., represents the Debtor as legal counsel. INKSTER, MI: S&P Places 'BB' Long-Term ICR on CreditWatch Negative ------------------------------------------------------------------ S&P Global Ratings placed its long-term ratings and underlying ratings on the local government, public utility, and transportation issuers identified in the list below on CreditWatch with negative implications. The ratings were placed on CreditWatch because S&P has yet to receive fiscal 2024 financial statements from these issuers and accordingly, these ratings are now at risk of being withdrawn. Ratings placed on CreditWatch negative as of March 6, 2026 Issuer State Current rating Airway Heights WA A- Augusta, Water and Sewer System GA A+ Caernarvon Township Authority PA A+ Covington County Water Authority AL BBB Dade County Water & Sewer Authority GA A+ Dallas Area Municipal Authority PA BBB- Hawkins County First Utility District TN A Hermiston OR A Jefferson County Public Water Supply District No. 6 MO A+ Le Mars (Water) IA A Le Mars (Sewer) IA A Marysville OH AA- Phenix City, Water and Sewer System AL BBB+ St Robert MO A- St. Clair Sewer Authority PA A- West Blocton AL BBB Willits CA A- Winters (Sewer) CA A- Winters (Water) CA A- Winterset Municipal Utilities IA A Easton Area Joint Sewer Authority PA A Coosa Valley Water Supply District AL AA- Atascosa County TX A Bartlesville OK AA- Dickinson County Unified School District No. 473 (Chapman) KS A+ Ector County TX AA- Fayette AL A+ Gillespie County TX AA Greenville AL BBB- Harpersville AL AA- Harrison County MS AA- Heber Springs AR A- Kleberg County TX A+ Madison County AL AA+ Mission TX A- Mission EDC TX A Mississippi County AR AA- Mountain View AR A Oklahoma City County Health Department OK AA- Phenix City AL AA- Phenix City Board of Education AL A+ Pine Bluff AR A+ Prairie View TX A+ Rhome TX A+ Roswell NM AA Runaway Bay (City of) TX AA- Springdale AR A+ St Clair County AL AA St Clair County, Appropriation AL AA- Union Springs AR A Wharton TX A+ Wilson Area School District PA AA- Mechanicsburg Boro PA AA- Beaver Falls PA BB+ Cambria Heights School District PA A+ Carbon County PA AA- Carnegie Boro PA A- Dubois PA A- Easton PA A Easttown Township PA AA+ Exeter Township School District PA AA- Green Local School District (Scioto County), General Obligation OH A+ Green Local School District (Scioto County), Appropriations OH A Hillsboro OH A+ Huber Heights, General Obligation OH AA- Huber Heights, Miscellaneous Tax OH AA Inkster MI BB Middle Smithfield Township PA AA- Morrisville Borough School District PA BB Munhall Borough PA BBB+ South Williamsport Borough PA AA- Southeast Delco School District PA BBB+ Spring Grove Boro PA A Swatara Township (Dauphin County) PA AA- Tuscarora School District PA A+ Augusta, General Obligation GA AA Bertie County, General Obligation NC A Bertie County, Appropriations NC A- Boothbay Town ME AA+ Colonial Heights VA AA+ Cortland NY BBB East Lyme CT AA East Point, General Obligation GA AA- East Point, Appropriations GA A+ East Providence RI AA- Sackets Harbor Village NY A+ Waterford Vill NY A Hamden Town CT A- Hebron CT AAA Hudson Town MA AA Jamesville Fire District NY A Kennebunk Town ME AAA Lodi Boro NJ AA Milford DE AA- Montgomery County NY A+ Morrisonville Fire District NY A Regional School Unit 13, General Obligation ME A Regional School Unit 13, Appropriations ME A- Roselle Boro NJ A+ Silver Springs NY A- Warren County VA AA West Orange Township NJ AA Westernport Town MD A+ Windsor Locks CT AA+ Augusta Regional Airport GA A- Hubbard County MN AA- City of Le Mars IA AA- Kronenwetter Village WI AA- City of Rice Lake WI AA- Winona County MN AA Houston County MN AA Lyons Village IL BBB- City of East Peoria IL A+ Pekin Park District IL A- Grundy County MO A- Round Lake Park Village IL A+ North Dakota Public School District No 3 Edgeley ND A Pocahontas Area Community School District IA A+ Benton County MO A McDonough County IL AA- White Bear Township MN AA+ Lake in the Hills Village IL AA Santa Cruz County, General Obligation AZ A Santa Cruz County Jail District, Sales Tax AZ A Santa Cruz County, Miscellaneous Tax AZ A+ Santa Cruz County, Sales Tax AZ A+ Santa Cruz County AZ A Gallatin County MT AA+ Missoula County MT AA- Union City CA AA+ Lakeside OR BBB North Bend WA AA Lewis County School District #226 Adna WA A+ Fremont County Sch Dist #14 WY A+ Imperial County CA BBB+ Peninsula Metro Park District WA AA Airway Hights WA A South Whidbey Fire District No. 3 WA WA AA Langley WA A North County Regional Fire Authority WA AA- Thurston County Fire Protection District No. 12 WA AA- Florence OR AA- Hermiston OR A+ North Gilliam County Rural Fire Protection District OR A Fair Oaks Recreation and Park District CA AA- S&P said, "We consider the financial statements necessary to maintain and assess our ratings on these issuers. Accordingly, these ratings are now at risk of being withdrawn if we do not receive fiscal 2024 financial statements within 30 days. "For debt structures where there are multiple revenue streams, we have placed the ratings on the entire structure on CreditWatch where we lack timely information for a key rating component of the structure. In addition, for state program ratings dependent on state aid coverage, we have placed ratings on CreditWatch where we lack information to confirm program eligibility. Similarly, for wholesale entities, where we lack timely information for a material participant. For issuers that also have bond anticipation notes, those short-term ratings could also be affected by the withdrawal of the long-term rating. "If issuers provide us with 2024 financial statements within 30 days, we will conduct a review and resolve the CreditWatch action within 90 days." INTREPID LLC: Jonathan Dickey Named Subchapter V Trustee -------------------------------------------------------- The Acting U.S. Trustee for Region 19 appointed Jonathan Dickey as Subchapter V trustee for Intrepid, LLC. Mr. Dickey will be paid an hourly fee of $425 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Dickey declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Jonathan M. Dickey, Esq. 1660 Lincoln Street, Suite 1720 Denver, CO 80264 303-832-2400 Email: jmd@kutnerlaw.com About Intrepid LLC Intrepid, LLC, a company in Lehi, Utah, filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Utah Case No. 26-20852) on February 20, 2026, with $100,000 to $500,000 in assets and $1 million to $10 million in liabilities. Seth S. Gomm, manager, signed the petition. Judge Michael F. Thomson presides over the case. Matthew M. Boley, Esq., at Cohne Kinghorn, P.C. represents the Debtor as legal counsel. IPIC THEATERS: Carol Fox of GlassRatner Named Subchapter V Trustee ------------------------------------------------------------------ The Acting U.S. Trustee for Region 21 appointed Carol Fox of GlassRatner as Subchapter V trustee for IPIC Theaters, LLC. Ms. Fox will be paid an hourly fee of $450 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Fox declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Carol Fox GlassRatner 200 East Broward Blvd., Suite 1010 Fort Lauderdale, FL 33301 Tel: 954.859.5075 Email: cfox@brileyfin.com About IPIC Theaters LLC IPIC Theaters, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-12313) on February 25, 2026, listing assets of between $10 million and $50 million and liabilities of between $1 million and $10 million. Judge Erik P. Kimball presides over the case. Christopher R. Thompson, Esq., at Burr & Forman LLP represents the Debtor as legal counsel. ISAGENIX INTERNATIONAL: Crescent Marks $3.4M 1L Loan at 61% Off --------------------------------------------------------------- Crescent Capital BDC, Inc. has marked its $3,465,000 loan extended to Isagenix International, LLC to market at $1,355,000 or 39% of the outstanding amount, according to Crescent Capital's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC, Inc. is a participant in a Senior Secured First Lien Term Loan extended to Isagenix International, LLC. The 1L Loan accrues interest at a rate of S + 250 (100 Floor) (plus 500 PIK), 11.39% per annum. The 1L Loan matures on April 2028. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About Isagenix International, LLC Isagenix International, LLC is a health and wellness company that develops and sells nutritional supplements and weight-management products. JAYBROOK RENTALS: Case Summary & Two Unsecured Creditors -------------------------------------------------------- Debtor: Jaybrook Rentals, LLC 1023 Arbuckle Road Summersville, WV 26651 Business Description: Jaybrook Rentals, LLC, based in Summersville, West Virginia, is a limited liability company engaged in real estate rental and leasing. Chapter 11 Petition Date: March 2, 2026 Court: United States Bankruptcy Court Southern District of West Virginia Case No.: 26-20054 Judge: Hon. B Mckay Mignault Debtor's Counsel: Brian R. Blickenstaff, Esq. JOHNS & ASSOCIATES, PLLC 101 Brook Hill Drive Charleston, WV 25311 Tel: 304-720-2300 Fax: 304-720-2311 Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Billy R. Dyer as member. A full-text copy of the petition, which includes a list of the Debtor's two unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/O2JOZEI/Jaybrook_Rentals_LLC__wvsbke-26-20054__0001.0.pdf?mcid=tGE4TAMA JONES ENTERPRISE: Seeks to Hire Jason Ward Law as Legal Counsel --------------------------------------------------------------- Jones Enterprise & Investments, LLC seeks approval from the U.S. Bankruptcy Court for the District of South Carolina to hire Jason Ward Law, LLC to serve as legal counsel. Jason Ward Law, LLC will provide these services: (a) give the Debtor and Debtor-in-Possession legal advice and representation in connection with bankruptcy matters; (b) prepare or amend schedules on behalf of the Debtor and Debtor-in-Possession; (c) represent the Debtor in contested matters; (d) prepare a plan of reorganization and disclosure statement; and (e) perform other matters which may arise during the administration of this case. Jason Ward Law, LLC shall receive an hourly rate of $350 for Jason Ward, and an hourly rate of $150 is for paralegals and support staff. The firm accepted a pre-petition retainer of $7,500 and will later apply to the Court for compensation from the retainer and from income or proceeds of the Chapter 11 estate. Jason Ward Law, LLC is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Jason M. Ward, Esq. Jason Ward Law, LLC 414-D Pettigru St. Greenville, SC 29601 Telephone: (864) 239-0007 E-mail: Jason@wardlawsc.com About Jones Enterprise & Investments LLC Jones Enterprise & Investments, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D.S.C. Case No. 26-00549) on February 6, 2026, with $100,001 to $500,000 in both assets and liabilities. Judge Elisabetta Gm Gasparini presides over the case. Jason Michael Ward, Esq., at Jason Ward Law, LLC represents the Debtor as bankruptcy counsel. K & M AMUSEMENT: Seeks to Hire Douglas Beaton as Counsel -------------------------------------------------------- K & M Amusement Center, LLC seeks approval from the U.S. Bankruptcy Court for the District of Massachusetts to employ Douglas J. Beaton, a professional practicing law, as its counsel. Mr. Beaton will provide these services: (a) provide advice and representation on all aspects of this reorganization and other legal matters affecting Debtor; (b) review purchase and sale agreements entered into by the LLC; (c) review a proposed foreclosure sale initiated by Colony Bank of Georgia; (d) advise on the pros and cons of commencing a bankruptcy case; and (e) prepare the initial bankruptcy paperwork and render professional services in connection with this Chapter 11 case. The principal attorney's current standard hourly rate is $250. He will also be reimbursed for actual, necessary expenses. He received a retainer in the amount of $18,260. Mr. Beaton is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code and does not hold or represent any interest adverse to the Debtor. The professional can be reached at: Douglas J. Beaton, Esq. 800 Turnpike Street, Suite 300 North Andover, MA 01845 Telephone: (978) 975-2608 Website: douglasbeaton.com About K & M Amusement Center, LLC K & M Amusement Center, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Mass. Case No. 26-40200) on February 25, 2026. At the time of the filing, Debtor had estimated assets of between $1,000,001 to $10 million and liabilities of between $1,000,001 to $10 million. Douglas J. Beaton serves as Debtor's legal counsel. K&M JACKSON: Voluntary Chapter 11 Case Summary ---------------------------------------------- Debtor: K&M Jackson Enterprises, LLC Kids of Valor Academy Kids of Valor Montessori Attn: Mona Jackson 4602 Orem Road Santa Fe, TX 77517 Business Description: K&M Jackson Enterprises, LLC, doing business as Kids of Valor Academy and Kids of Valor Montessori, operates early childhood education and childcare centers in Houston, Santa Fe, Pasadena, Alvin, and Texas City, Texas. The company provides infant and toddler care (6 weeks to 18 months), preschool programs for children ages two through five, and school-age programs serving Pre-K through fifth grade, offering three- and five-day schedules that include meals, camera access, and online parent communication. It also provides transportation to local schools, along with spring break and summer camps and homework assistance for school-age students. Chapter 11 Petition Date: March 2, 2026 Court: United States Bankruptcy Court Southern District of Texas Case No.: 26-31442 Debtor's Counsel: Alex Olmedo Acosta, Esq. ACOSTA LAW P.C. One Northwest Centre Houston TX 77040 Tel: (713) 980-9014 E-mail: alex@theacostalawfirm.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Mona Jackson as CEO. The petition was filed without the Debtor's list of its 20 largest unsecured creditors. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/ABJN4GQ/KM_Jackson_Enterprises_LLC__txsbke-26-31442__0001.0.pdf?mcid=tGE4TAMA KARROW WHITEFISH: Hires Glacier Sotheby's as Real Estate Broker --------------------------------------------------------------- Karrow Whitefish Investment, LLC seeks approval from the U.S. Bankruptcy Court for the District of Montana to hire Glacier Sotheby's - Whitefish as real estate broker. The broker will market and sell the Debtor's property located at 95 Karrow Ave, Whitefish, Flathead, MT 59937. Glacier Sotheby's a "disinterested person" as defined in 11 U.S.C. Sec. 101(14), according to court filings. The broker can be reached through: Trace Rossi Glacier Sotheby's 204 Central Avenue Whitefish, MT 59937 Office: (406) 863-3060 About Karrow Whitefish Investment, LLC Karrow Whitefish Investment, LLC is a single asset real estate company. Karrow Whitefish Investment, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Mont. Case No. 26-90021) on January 27, 2026. In its petition, the Debtor reports estimated assets ranging from $10 million to $50 million and estimated liabilities in the same range. Honorable Bankruptcy Judge Benjamin P. Hursh handles the case. The Debtor is represented by James A. Patten, Esq., of Patten Peterman Bekkedahl Green PLLC. KBR INC: Fitch Keeps 'BB+' LongTerm IDR on Watch Negative --------------------------------------------------------- Fitch Ratings has maintained KBR Inc.'s ratings, including on its Long-Term Issuer Default Rating (IDR), on Rating Watch Negative (RWN) due to the company's plans to spin off its Mission Technology Solutions (MTS) business into a separate company. The RWN applies to all the company's rated debt. New KBR will consist of the Sustainable Technology Solutions (STS) business. Fitch has also assigned Recovery Ratings of 'RR2' to the company's senior secured debt. The assignment of 'RR2' corrects an error in Fitch's application of its Recovery Rating Criteria. The RWN mainly reflects the uncertainty surrounding New KBR's future capital structure and financial policy, as well as the smaller size and lower level of diversification following the spin-off. Resolution of the RWN is expected at transaction completion, currently anticipated in mid- to late 2026, contingent on greater clarity regarding New KBR's capital structure, financial policy and strategic objectives. Key Rating Drivers Planned Spin-Off of MTS Business: The planned spin-off of the MTS business will create two separate companies with differing profiles. The higher-margin, growth-oriented New KBR will be comprised of the STS business, focused on energy transition and decarbonization, leveraging proprietary IP-protected process technologies and it engineering and advisory capabilities. The lower-margin government IT-focused MTS business benefits from a multiyear backlog and lower, more stable growth prospects relative to STS. Fitch believes the planned spin-off will enhance the operational and strategic focus of STS and MTS. Low Double-Digit Pre-Spin EBITDA Margins: Fitch expects pre-spin KBR to generate low double-digit EBITDA margins and low- to mid-single-digit FCF margins over the next few years. Fitch views these as in line with government services peers and the 'BB' rating category. While pre-spin profitability is weaker relative to sustainable energy peers. Fitch views the company's margins as less variable. Fitch expects MTS to generate lower, more stable margins, while New KBR is expected to generate low-20% EBITDA margins which are viewed as more variable without the stabilizing MTS segment. Sub-3.5x Pre-Spin Leverage: Fitch views pre-spin KBR's leverage metrics to be in line with the 'BB+' rating level. The agency expects EBITDA leverage to fluctuate in the 2.5x-3.5x range, including factoring, depending upon the pace and magnitude of acquisitions and debt repayment. Management has indicated that MTS may support higher leverage, with New KBR likely to operate with a more conservative leverage profile. M&A-Focused Capital Deployment: KBR has a track record of executing M&A, and Fitch expects M&A to remain a strategic focus for STS and MTS post-spin. Fitch also believes the spin-off should enhance bid competitiveness and better align capital deployment and financial priorities with the distinct strategic objectives of the separated businesses. Other Rating Considerations: KBR's 'BB+' IDR incorporates its multiyear backlog, positive FCF generation, and exposure to growth areas of the defense budget and sustainability trends. The rating also reflects KBR's current financial policy and capital deployment strategy, which could include debt-funded M&A as a focus area. Peer Analysis KBR's diverse set of offerings serving the government, commercial and industrial end markets is unique relative to peers. KBR's closest peers operate mainly in the government IT contracting business, including Science Application International Corporation (SAIC; not rated [NR]) and Booz Allen Hamilton (NR). Differentiators in KBR's business include its international unit and its STS segment. Total revenue tied to the U.S. government at KBR in 2024 was 57% compared to SAIC (98%) and Booz Allen (98%). KBR's STS segment offers energy management, energy transition and consulting services that compete with some of the largest engineering and construction (E&C) companies in the world, such as AECOM and Fluor. However, KBR's exit from lump-sum EPC contracts reduced its risk profile compared to these large E&Cs, making it less susceptible to construction risks, while its STS services provide it with margin upside. KBR and Booz Allen are of similar size, while SAIC is somewhat smaller. KBR's FCF margins are improving toward peer levels, with leverage roughly in line with Booz Allen's and slightly lower than that of SAIC. KBR's EBITDA margins are similar to Booz Allen's and slightly above those of SAIC. Fitch’s Key Rating-Case Assumptions - KBR completes the spin-off of MTS in 2H26; - Low single-digit organic revenue growth in the MTS segment, with high single-digit to low double-digit growth in the STS segment over the forecast period; - EBITDA margins in the low double digits over the forecast period; - Capex between 0.5% and 1.0% of revenue; - Fitch believes the company will continue its acquisitive strategy, with acquisitions being largely funded with debt; - No material change in shareholder returns. Corporate Rating Tool Inputs and Scores Fitch scored the issuer as follows, using its Corporate Rating Tool (CRT) to produce the Standalone Credit Profile (SCP): - Business and financial profile factors (assessment, relative importance): Management (bbb-, Lower), Sector Characteristics (bbb, Moderate), Market and Competitive Positioning (bb+, Higher), Diversification and Asset Quality (bbb-, Moderate), Company Operational Characteristics (bbb-, Moderate), Profitability (bbb-, Moderate), Financial Structure (bb+, Higher), and Financial Flexibility (bbb-, Moderate). - The quantitative financial subfactors are based on standard CRT financial period parameters: 20% weight for the latest historical year 2024, 40% for the forecast year 2025 and 40% for the forecast year 2026. - The Governance assessment of 'Good' results in no adjustment. - The Operating Environment assessment of 'aa-' results in no adjustment. - The SCP is 'bb+'. To derive the IDR: Fitch has made no adjustments to the SCP, resulting in an IDR of 'BB+'. RATING SENSITIVITIES To resolve the RWN: Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - Completion of the MTS separation; - Heightened variability of New KBR's cash flow risk profile through business cycles, including deteriorating revenue and backlog trends; - Establishment of a more flexible New KBR financial policy, as well as more opportunistic capital deployment priorities. Factors that Could, Individually or Collectively, Lead to the Removal of the RWN and Assignment of a Stable Outlook - Completion of the MTS separation; - Establishment of an appropriately capitalized New KBR balance sheet, as well as credit-conscious capital deployment priorities. On a pre-spin basis: Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - EBITDA leverage sustained above 3.5x; - A shift in the backlog trend, including consolidated book-to-bill approaching 1.0x; - A significant loss on one of its hybrid or fixed price contracts that impact the company's profitability, cash flow generation, or ability to win future contracts; - Government shutdown or budget cuts that impede the company's ability to realize backlog revenue, prospective revenue, or ability to bid or win new contracts. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - Demonstrated commitment to financial policy supporting EBTIDA leverage sustained below 3.0x; - Continued execution of M&A strategy that strengthens the operational and cash flow profile; - Maintenance of a strong backlog that supports revenue visibility. Liquidity and Debt Structure Fitch expects the company's pre-spin liquidity to be sufficient over the next few years, comprised of cash and revolver availability. Fitch also expects liquidity and financial flexibility to be adequate to maintain operations, supported by consistently positive FCF generation. The company's capital structure is comprised of a senior unsecured revolving credit facility, term loan A, term loan B, and senior unsecured notes. Issuer Profile KBR, Inc. is a science, technology and engineering solutions provider to governments, integrated energy and industrial companies on a global scale. MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS Fitch's latest quarterly Global Corporates Sector Forecasts Monitor data file which aggregates key data points used in its credit analysis. Fitch's macroeconomic forecasts, commodity price assumptions, default rate forecasts, sector key performance indicators and sector-level forecasts are among the data items included. ESG Considerations The highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. Entity/Debt Rating Recovery Prior ----------- ------ -------- ----- KBR, Inc. LT IDR BB+ Rating Watch BB+ Maintained senior unsecured LT BB+ Rating Watch RR4 BB+ Maintained senior secured LT BBB- Rating Watch RR2 BBB- Maintained KRCM ASTORIA: Employs Goldberg Weprin Finkel as Counsel ------------------------------------------------------- KRCM Astoria Portfolio Corp. seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ Goldberg Weprin Finkel Goldstein LLP as bankruptcy counsel. The firm will provide these services: (a) provide the Debtor with all necessary representation in connection with this Chapter 11 case, as well as the Debtor's responsibilities as debtor-in-possession; (b) represent the Debtor in all proceedings before the U.S. Bankruptcy Court and the Office of the U.S. Trustee; (c) review, prepare and file all necessary legal papers, applications, motions, objections, adversary proceedings, and reports on the Debtor's behalf; and (d) render all other legal services required by the Debtor in addressing the claims of the creditors, and refinancing the Properties to fund a plan of reorganization. Goldberg Weprin Finkel Goldstein LLP's current billing rates for bankruptcy matters are $635 to $865 per hour for partner time, and between $495 to $620 per hour for associate time. The firm's current billing rates for paralegal services are between $85 and $125 per hour. Prior to the Chapter 11 filing, the firm received a pre-petition retainer of $35,000 from the Debtor, the unused portion of which will be applied to post-petition services as may be awarded by the Bankruptcy Court. Goldberg Weprin Finkel Goldstein LLP is a "disinterested person" within the meaning of the Bankruptcy Code, according to court filings. The firm is not a creditor of the Debtor and does not hold an adverse interest to the Debtor or the Debtor's estate. The firm can be reached at: Kevin J. Nash, Esq. Michael F. Medved, Esq. J. Ted Donovan, Esq. GOLDBERG WEPRIN FINKEL GOLDSTEIN LLP 125 Park Avenue, 12th Floor New York, NY 10017 Telephone: (212) 221-5700 About KRCM Astoria Portfolio Corp. KRCM Astoria Portfolio Corp. is a real estate company. KRCM Astoria Portfolio Corp. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-44859) on October 8, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million each. Honorable Bankruptcy Judge Elizabeth S. Stong handles the case. The Debtor is represented by J Ted Donovan, Esq. of Goldberg Weprin Finkel Goldstein LLP. KSK TRANSPORT: Seeks to Tap Emmett L. Goodman Jr. LLC as Attorney ----------------------------------------------------------------- KSK Transport LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Georgia to hire the Law Offices of Emmett L. Goodman, Jr., LLC as attorneys. The firm will provide these services: (a) give the Debtor legal advice with respect to its powers and duties as Debtor-in-Possession in the continued operation of its business and management of its property; (b) prepare on behalf of the Debtor-in-Possession necessary applications, answers, reports, and other legal papers; (c) prepare motions, pleadings, and applications, and conduct examinations incidental to the administration of the estate; (d) take any and all necessary action incident to the proper preservation and administration of the estate; (e) assist the Debtor-in-Possession with the preparation and filing of supplemental schedules and lists as appropriate; (f) take whatever action is necessary with reference to the use of property pledged as collateral, including cash collateral; (g) assert, as directed by the Debtor, all claims the Debtor has against others; and (h) perform all other legal services for the Debtor-in-Possession which may be necessary. The firm will receive compensation at the rate of $375 per hour. The Debtor paid a pre-petition retainer of $6,738. According to court filings, the Law Offices of Emmett L. Goodman, Jr., LLC and its attorneys represent no other entity in connection with this case and hold no interest adverse to the estate, and are therefore disinterested. The firm can be reached at: Daniel L. Wilder, Esq. LAW OFFICES OF EMMETT L. GOODMAN, JR., LLC 544 Mulberry Street, Suite 800 Macon, GA 31201-2776 Telephone: (478) 745-5415 E-mail: dwilder@goodmanlaw.org About KSK Transport LLC KSK Transport LLC sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Ga. Case No. 26-10168) on January 30, 2026, listing $50,001 to $100,000 in assets and $100,001 to $500,000 in liabilities. Judge Austin E Carter presides over the case. Daniel Lewis Wilder, Esq. at Law Offices of Emmett L. Goodman, Jr. serves as the Debtor's counsel. KURTIS TECHNOLOGIES: Hires Kornfield Nyberg as Bankruptcy Counsel ----------------------------------------------------------------- Kurtis Technologies Co, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of California to hire Kornfield, Nyberg, Bendes, Kuhner & Little, P.C. as bankruptcy counsel. The firm will render these services: a. give the Debtor legal advice with respect to its powers and duties as debtor-in-possession and the continued operation of its business and management of its property; b. prepare on behalf of applicant, as debtor-in-possession, the necessary applications, answers, orders, reports and other legal papers; c. perform all other legal services for Debtor which may be necessary in this case. The firm's hourly rates are: Eric A. Nyberg, Partner $525 Chris D. Kuhner, Partner $525 Sarah L. Little, Partner $500 Gail Michael, Paralegal $75 Madison Lampi, Paralegal $75 The firm received a pre-petition retainer in the amount of $30,000, plus $1,738 filing fee. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Chris D. Kuhner, Esq., a partner at Kornfield, Nyberg, Bendes, Kuhner & Little, 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: Chris D. Kuhner, Esq. Kornfield, Nyberg, Bendes, Kuhner & Little, P.C. 1970 Broadway, Suite 600 Oakland, CA 94612 Tel: (510) 763-1000 Fax: (510) 273-8669 Email: c.kuhner@kornfieldlaw.com About Kurtis Technologies Co LLC Kurtis Technologies Co, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Calif. Case No. 26-30131) on February 12, 2026, with $0 to $50,000 in assets and $100,001 to $500,000 in liabilities. Judge Hannah L. Blumenstiel presides over the case. Chris D. Kuhner, Esq., at Kornfield Nyberg Bendes Kuhner & Little represents the Debtor as legal counsel. LATOUR HOMES: W. Harrison Penn Named Subchapter V Trustee --------------------------------------------------------- The Acting U.S. Trustee for Region 4 appointed W. Harrison Penn as Subchapter V trustee for Latour Homes, LLC. Mr. Penn 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. Penn declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: W. Harrison Penn PO Box 11332 Columbia, SC 29201-1332 Phone: (803) 771-8836 Email: hpenn@pennlawsc.com About Latour Homes LLC Latour Homes, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D.S.C. Case No. 26-00837) on February 26, 2026, with $500,001 to $1 million in assets and liabilities. Judge Helen E. Burris presides over the case. Jason Michael Ward, Esq., at Jason Ward Law, LLC represents the Debtor as bankruptcy counsel. LEROYS MEATS: Gets Final OK to Use Cash Collateral -------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Ohio, Eastern Division, entered an order granting Leroys Meats, LLC and Smoke Ring, LLC final approval to use cash collateral. Under the agreed final order, the Debtors are authorized to use cash collateral through confirmation of a reorganization plan, dismissal or conversion of their Chapter 11 cases, or further court order. The Debtors must operate in substantial compliance with a 13-week operating budget and may only spend funds on approved expense categories unless First Merchants Bank or the court authorizes changes. To protect First Merchants Bank's secured interests, the order requires adequate protection payments and additional safeguards. The Debtors must make monthly payments of $1,580 in March and April, increasing to $5,000 per month beginning May, along with voluntary monthly contributions of $6,099.18 from a related non-debtor entity. First Merchants Bank will also receive replacement liens on post-petition assets and proceeds, a superpriority administrative expense claim to cover any decline in collateral value. Additional protection includes continued insurance coverage, and detailed financial reporting, including monthly operating reports and budget comparisons. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/kXBRs from PacerMonitor.com. About Leroys Meats LLC Leroys Meats, LLC, doing business as Ray Ray's Hog Pit, operates a family of stationary barbecue food trucks, trailers, and drive-thru restaurants across four locations in central Ohio, including Columbus, Westerville, Granville, and Franklinton. Founded in 2009 by chef James Anderson, the Company specializes in hardwood-smoked barbecue, offering pork, beef, and chicken prepared using traditional low-and-slow methods, along with catering and bulk pre-order services for events and holidays. Leroys Meats, LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 25-55609) on December 19, 2025. In its petition, the debtor reported total assets of $428,029 and total liabilities of $1,175,612. Honorable Bankruptcy Judge Tiffany Strelow Cobb handles the case. The Debtor is represented by Sean Stone, Esq., at Tax Workout Group, P.A. LION CASHMERE: Crescent Capital Marks $4.3MM 1L Loan at 32% Off --------------------------------------------------------------- Crescent Capital BDC, Inc. has marked its $4,352,000 loan extended to Lion Cashmere Bidco Limited to market at $2,950,000 or 68% of the outstanding amount, according to Crescent Capital's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission on Feb. 25, 2026. Crescent Capital BDC, Inc. is a participant in a Unitranche First Lien Term Loan extended to Lion Cashmere Bidco Limited. The 1L Loan accrues interest at a rate of S + 600 (50 Floor), 9.84% per annum. The 1L Loan matures on March 2028. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About Lion Cashmere Bidco Limited Lion Cashmere Bidco Limited is a consumer durables and apparel company operating in the cashmere and related clothing segment. LION CASHMERE: Crescent Capital Marks $4.9MM 1L Loan at 32% Off --------------------------------------------------------------- Crescent Capital BDC, Inc. has marked its $4,953,000 loan extended to Lion Cashmere Bidco Limited to market at $3,358,000 or 68% of the outstanding amount, according to Crescent Capital BDC's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission on Feb. 25, 2026. Crescent Capital BDC, Inc. is a participant in a Unitranche First Lien Term Loan extended to Lion Cashmere Bidco Limited. The 1L Loan accrues interest at a rate of S + 600 (50 Floor), 9.84% per annum. The 1L Loan matures on March 2028. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: The Corporate Secretary Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About Lion Cashmere Bidco Limited Lion Cashmere Bidco Limited is a consumer durables and apparel company operating in the cashmere and related clothing segment. LION CASHMERE: Crescent Capital Marks $9.9MM 1L Loan at 32% Off --------------------------------------------------------------- Crescent Capital BDC, Inc. has marked its $9,939,000 loan extended to Lion Cashmere Bidco Limited to market at $9,939,000 or 68% of the outstanding amount, according to Crescent Capital's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission on Feb. 25, 2026. Crescent Capital BDC, Inc. is a participant in a Unitranche First Lien Term Loan extended to Lion Cashmere Bidco Limited. The 1L Loan accrues interest at a rate of S + 600 (50 Floor), 9.84% per annum. The 1L Loan matures on March 2028. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About Lion Cashmere Bidco Limited i Lion Cashmere Bidco Limited is a consumer durables and apparel company operating in the cashmere and related clothing segment. LION RIBBON: Hilco Buys Design Group Americas Assets in Ch. 11 -------------------------------------------------------------- Global law firm Greenberg Traurig, LLP advised Hilco Capital and its affiliates in the acquisition and sale of the assets of Design Group Americas, Inc., a global manufacturer and distributor of celebrations, stationery, creative play, and gifting products. The acquisition was U.K.-law governed and involved dozens of U.S. and foreign subsidiaries. The court-supervised sales of the U.S. subsidiaries' assets were completed under U.S. law in a Chapter 11 bankruptcy and the disposition of the assets of the foreign subsidiaries is taking place under local law in each of about half a dozen jurisdictions. "This matter exemplifies the integrated Greenberg Traurig Restructuring & Special Situations team as well as the power of its cross-border practice in the face of significant legal and regulatory complexity," said Oscar N. Pinkas, co-chair of the Global Restructuring & Special Situations Practice, who led the Greenberg Traurig deal team. "Hilco Capital entrusted us with a multifaceted transaction that required not only sophisticated restructuring and financing strategies, but coordination across multiple practice areas and jurisdictions. We are deeply grateful for Hilco Capital's confidence in our team and its collaborative approach throughout the successful acquisition, sale, and winddown process. It was a privilege to work alongside its team, and we look forward to supporting them in future endeavors." The transaction involved a Chapter 11 filing in the U.S. Bankruptcy Court for the Southern District of Texas for the U.S. entities after Hilco Capital, through a special purpose vehicle, acquired 100% of Design Group Americas in June 2025 from its U.K. parent company. Hilco provided $40 million in bridge and debtor-in-possession financing to fund operations before and during bankruptcy. Over six months, Design Group Americas monetized the assets of the U.S. companies, fully repaid Hilco's loans, and confirmed a Chapter 11 liquidation plan that became effective in December 2025. The debtors are now completing asset dispositions and winddowns of their foreign subsidiaries under local law. The firm guided Hilco through acquisition, multiple financings, and the legal and regulatory aspects of the bankruptcy, helping secure court approval for these bespoke transactions throughout, which set a precedent for lenders and affiliates to finance and manage asset sales in Chapter 11 cases. The Greenberg Traurig team included more than 40 attorneys and paraprofessionals. The core deal team included Banking & Financial Services Shareholder Luke Lado in London, Corporate Shareholder Joel Wheeler in London, Finance Shareholder Jeffrey M. Wolf in Boston, Restructuring & Special Situations Shareholder Julia Frost-Davies in Boston, Restructuring & Special Situations Shareholder Nathan A. Haynes in New York, Restructuring & Special Situations Shareholder Karl D. Burrer in Houston, Real Estate Shareholder Michael A. Suleta in Philadelphia, Tax Shareholder Jeffrey K. Ekeberg in Chicago, and Real Estate Shareholder Richard J. Melnick in Northern Virginia, along with Restructuring & Special Situations Associate T. Charlie Liu in Boston, Banking & Financial Services Associate Christine Chen in Boston, Restructuring & Special Situations Associate Emily D. Nasir in Houston, and Restructuring & Special Situations Associate Libby B. Ro in New York. About Greenberg Traurig: Greenberg Traurig, LLP has approximately 3,000 lawyers across 51 locations in the United States, Europe, the Middle East, Latin America, and Asia. The firm's broad geographic and practice range enables the delivery of innovative and strategic legal services across borders and industries. Recognized as a 2025 BTI "Best of the Best Recommended Law Firm" by general counsel for trust and relationship management, Greenberg Traurig is consistently ranked among the top firms on the Am Law Global 100, NLJ 500, and Law360 400. Greenberg Traurig is also known for its philanthropic giving, culture, innovation, and pro bono work. Web: www.gtlaw.com. About Lion Ribbon Texas Corp. Lion Ribbon Texas Corp. and affiliates design, manufacture, and distribute consumer crafting, gifting, and stationery products for celebrations, hobbies and creative play. They operate globally, with facilities across North America and supporting operations in India, Hong Kong, China, the United Kingdom, and Australia. They supply both branded and private-label products to consumers and major corporate clients. The Debtors sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-90164) on July 3, 2025. In their petitions, the Debtors reported $100 million to $500 million in assets and liabilities on a consolidated basis. Judge Christopher M. Lopez handles the cases. The Debtors are represented by Caroline A. Reckler, Esq., Ray C. Schrock, Esq., Adam S. Ravin, Esq., Randall Carl Weber-Levine, Esq., and Meghana Vunnamadala, Esq., at Latham & Watkins, LLP. The Debtors tapped Huron Consulting Services, LLC as investment banker and financial advisor; Deloitte Tax, LLP as tax services provider; Liskow & Lewis, APLC as conflicts counsel; C Street Advisory Group, LLC as communications advisor; and Kroll Restructuring Administration, LLC as claims, noticing and solicitation agent. On July 22, 2025, the Office of the U.S. Trustee appointed an official committee of unsecured creditors in these Chapter 11 cases. The committee tapped Lowenstein Sandler LLP and Orrick, Herrington & Sutcliffe LLP as counsel. M&J FINANCIAL: Voluntary Chapter 11 Case Summary ------------------------------------------------ Debtor: M&J Financial & Real Estate Services LLC 1818 Bethlehem Pike Unit 413 Flourtown, PA 19031 Business Description: M&J Financial & Real Estate Services LLC's principal assets are located at 2255 North Uber Street, Philadelphia, PA 19132. Chapter 11 Petition Date: March 2, 2026 Court: United States Bankruptcy Court Eastern District of Pennsylvania Case No.: 26-10848 Judge: Hon. Ashely M Chan Debtor's Counsel: Frank L. Turner Jr., Esq. FL TURNER LAW, PC 30 S 15th Street, 15th Floor Philadelphia, PA 19102 Tel: 267-314-4956 Email: Frank@FLTurnerLaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Mary Akinboro as member. The Debtor failed to attach a list of its 20 largest unsecured creditors to the petition. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/PQAPOZI/MJ_Financial__Real_Estate_Services__paebke-26-10848__0001.0.pdf?mcid=tGE4TAMA MAILTROPOLIS LLC: Unsecured Creditors to Split $9K over 3 Years --------------------------------------------------------------- Mailtropolis, LLC filed with the U.S. Bankruptcy Court for the Middle District of Florida a Plan of Reorganization dated February 24, 2026. The Debtor is a Florida for profit corporation created by Articles of Organization filed with the Florida Secretary of State on or around November 30, 2004. The Debtor creates tailored marketing solutions that forge a powerful bond between their clients and their client's potential customers. The Debtor provides a wide-range of marketing services from strategy consulting, branding design, websites, digital marketing, social media, SEO, campaigns, printing and direct mail, lead generation and strategy. The Debtor's principal place of business is located at 10219 General Drive, Orlando, FL 32824 ("Premises"), which the Debtor leases from General D2, LLC (a noninsider). The Debtor's projected disposable income is $8,978.00. This Plan provides for 1 class of secured claims; 1 class of unsecured claims; and 1 class of equity security holders. Class 2 consists of the Allowed Unsecured Claims against the Debtor. This Class is Impaired. * Consensual Plan Treatment: The liquidation value or amount that unsecured creditors would receive in a hypothetical chapter 7 case is approximately $0.00. Accordingly, the Debtor proposes to pay unsecured creditors a pro rata portion of $9,000.00. The Reorganized Debtor shall pay said amount in equal quarterly payments of $750.00 and shall be disbursed pro rata to the holders of Allowed General Unsecured Claims. Payments shall commence on the first day of the month, on the first calendar quarter following the Effective Date and shall continue quarterly for eleven additional quarters. Pursuant to Section 1191 of the Bankruptcy Code, the value to be distributed to unsecured creditors is greater than the Debtor's projected disposable income to be received in the 3-year period beginning on the date that the first payment is due under the plan. * Nonconsensual Plan Treatment: The liquidation value or amount that unsecured creditors would receive in a hypothetical chapter 7 case is approximately $0.00. Accordingly, Debtor proposes to pay unsecured creditors a pro rata portion of its projected Disposable Income, $8,978.00. If the Debtor remains in possession, plan payments shall include the Subchapter V Trustee's administrative fee which will be billed hourly at the Subchapter V Trustee's then current allowable blended rate. Plan Payments shall commence on the first calendar quarter following the Effective Date, and shall continue quarterly for eleven additional quarters. The quarterly payment for the first four quarters shall be $1,109.25. The quarterly payments for the second four quarters shall be $517.50. The quarterly payments for the final four quarters shall be $617.75. Class 3 consists of any and all equity interests and warrants currently issued or authorized in the Debtor. This Class is Unimpaired. Holders of Class 3 interests shall retain their full equity interest in the same amounts, percentages, manner and structure as existed on the Petition Date. The Plan contemplates that the Reorganized Debtor will continue to operate the Debtor's business. Except as explicitly set forth in this Plan, all cash in excess of operating expenses generated from operation until the Effective Date will be used for Plan Payments or Plan implementation, cash on hand as of Confirmation shall be available for Administrative Expenses. A full-text copy of the Plan of Reorganization dated February 24, 2026 is available at https://urlcurt.com/u?l=9RlAlT from PacerMonitor.com at no charge. Counsel to the Debtor: Jeffrey S. Ainsworth, Esq. Cole B. Branson, Esq. Branson Ainsworth, PLLC 1501 East Concord Street Orlando, Florida 32803 Telephone: (407) 894-6834 Facsimile: (407) 894-8559 E-mail: jeff@bransonlaw.com E-mail: cole@bransonlaw.com About Mailtropolis LLC Mailtropolis, LLC, doing business as We Are Kymera, provides full-service marketing solutions that include strategy and consulting, branding and design, website development, and digital marketing services across multiple channels. It offers lead-generation programs, social media management, search engine optimization, and campaign execution along with print and direct-mail capabilities. It serves businesses seeking integrated marketing support across both digital and traditional platforms. Mailtropolis sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-07813) on December 2, 2025, listing between $100,001 and $500,000 in assets and between $1 million and $10 million in liabilities. Jeffrey Ainsworth, Esq., at Bransonlaw, PLLC represents the Debtor as legal counsel. MAKHANI PROPERTIES: Case Summary & Three Unsecured Creditors ------------------------------------------------------------ Debtor: Makhani Properties, LLC d/b/a Amigos Houston Properties 31061 Johnson Way Bulverde, TX 78163 Business Description: Makhani Properties, LLC is a real estate holding company that owns and manages a portfolio of commercial and residential properties across Texas, including land parcels, residential real estate, and income-producing truck stop and convenience store assets. The company's holdings are located in Moore, Bulverde, Cottonwood Shores, Junction, Carrizo Springs, Tilden, and Dilley, comprising both fee simple interests and an equitable interest under a contract for deed arrangement. Its portfolio includes highway-adjacent development land and operating retail fuel and truck stop properties, with an aggregate estimated value of approximately $28.2 million. Chapter 11 Petition Date: March 1, 2026 Court: United States Bankruptcy Court Western District of Texas Case No.: 26-50525 Judge: Hon. Michael M Parker Debtor's Counsel: H. Anthony Hervol, Esq. LAW OFFICE OF H. ANTHONY HERVOL 22211 IH-10 West, Suite 1206-168 San Antonio, TX 78257 Tel: (210) 522-9500 Fax: (210) 522-0205 Email: hervol@sbcglobal.net Total Assets: $30,214,266 Total Liabilities: $22,665,550 The petition was signed by Aminmohamed Makhani as managing member. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/6GJABQY/Makhani_Properties_LLC__txwbke-26-50525__0001.0.pdf?mcid=tGE4TAMA List of Debtor's Three Unsecured Creditors: Entity Nature of Claim Claim Amount 1. Munsch Hardt Legal Fees $135,000 c/o Sameer S. Karim 700 Milam St, #2700 Houston, TX 77002 2. Progressive County Subrogation $32,412 Mutual Ins. Co. Claim 7301 Metro Center Dr. Austin, TX 78744 3. Vaseem A. Maliek $0 25717 Comanche Creek San Antonio, TX 78261 MARVIN GARDENS: Seeks to Hire Cyrus Zal APC as Bankruptcy Counsel ----------------------------------------------------------------- Marvin Gardens Property LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of California to hire Cyrus Zal, A Professional Corporation as its counsel. The terms of the employment consist of an hourly fee of $400 and an initial minimum, non-refundable payment of $4,000. Cyrus Zal, A Professional Corporation, is a disinterested person as that term is defined in 11 U.S.C Sec. 101(14), according to court filings. The firm can be reached through: Cyrus Zal, Esq. Cyrus Zal, A Professional Corporation 102 Mainsail Ct. Folsom, CA 95630 Tel: (916) 985-3576 Fax: (916) 526-1670 Email: czal47@comcast.net About Marvin Gardens Property LLC Marvin Gardens Property LLC is a privately held real estate investment and management company. The company sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-20068) on January 7, 2026. In its petition, the Debtor reported estimated assets of $100,001-$1,000,000 and estimated liabilities of $100,001-$1,000,000. Honorable Bankruptcy Judge Christopher M. Klein handles the case. The Debtor is represented by Cyrus Zal, Esq., of Cyrus Zal, A Professional Corporation. MARYLAND HEALTH: Plan Exclusivity Period Extended to June 5 ----------------------------------------------------------- Judge Maria Ellena Chavez-Ruark of the U.S. Bankruptcy Court for the District of Maryland extended Maryland Health Alliance, Inc.'s exclusive periods to file a plan of reorganization and obtain acceptance thereof to June 5 and August 4, 2026, respectively. As shared by Troubled Company Reporter, the Debtor explains that this case involves a healthcare organization with complex revenue streams from multiple healthcare payors, including insurance companies and government healthcare programs. Unlike a typical small business debtor whose revenue derives from straightforward commercial transactions, the Debtor's revenue cycle involves billing, claims processing, and reimbursement from numerous third-party payors, each with distinct payment timelines, contractual terms, and regulatory requirements. Additionally, two creditors continued to withdraw funds from the Debtor's prepetition bank account post-petition, despite demand that they cease doing so. One of these creditors withdrew approximately $90,000 in post-petition funds, and the Debtor has been compelled to file an adversary proceeding against that creditor to recover those funds. The prosecution of this adversary proceeding adds an additional layer of complexity to the case and has necessarily diverted the Debtor's resources and attention. The Debtor asserts that it is not seeking this extension to pressure creditors or to use exclusivity as a tactical weapon. Rather, the Debtor seeks additional time for the legitimate purpose of completing the administrative steps necessary to formulate a viable plan, including preparation of monthly operating reports and resolution of the adversary proceeding. This is the Debtor's first request for an extension of the exclusivity period. The Debtor further asserts that an unresolved contingency exists in the form of the pending adversary proceeding to recover the approximately $90,000 in post-petition funds wrongfully taken by a creditor. The resolution of this adversary proceeding will materially affect the estate's financial position and, consequently, the terms of any proposed plan of reorganization. Maryland Health Alliance Inc. is represented by: Eric S. Steiner, Esq. Steiner Law Group, LLC 3030 Greenmount Ave. Suite 300, PMB 83805 Baltimore, MD 21218-690 (410) 670-7060 (phone) (410) 834-1743 (fax) Email: info@steinerlawgroup.com About Maryland Health Alliance, Inc. Maryland Health Alliance Inc. operates as an outpatient mental health practice providing counseling and rehabilitation services to individuals and families in Maryland. The organization offers group therapy and psychiatric rehabilitation programs with an emphasis on culturally competent care and community engagement. It focuses on promoting personal growth, family well-being, and holistic approaches to mental health within the communities it serves. Maryland Health Alliance Inc. in Greenbelt, MD, sought relief under Chapter 11 of the Bankruptcy Code filed its voluntary petition for Chapter 11 protection (Bankr. D. Md. Case No. 25-19411) on Oct. 8, 2025, listing $500,000 to $1 million in assets and $1 million to $10 million in liabilities. Corey A. Williams as president, signed the petition. STEINER LAW GROUP, LLC, serves as the Debtor's legal counsel. MATTHEWS INTERNATIONAL: S&P Alters Outlook to Neg, Affirms 'B' ICR ------------------------------------------------------------------ S&P Global Ratings revised the outlook on Pittsburgh-based Matthews International Corp. (MATW) to negative from stable and affirmed its 'B' issuer credit rating (ICR) on the company. S&P subsequently withdrew its ICR on MATW at the company's request. Before this withdrawal, the negative outlook reflected the risk that the effect of costs related to M&A, litigation, and restructurings could increase adjusted leverage above S&P's downside threshold of 6x. It also reflected the risk that these costs could lead to sustained negative discretionary cash flow, forcing MATW to rely on liquidity or additional debt to help fund its dividend and mandatory debt amortization. S&P said, "MATW incurred elevated strategic costs above our expectations, burdening margins and cash flow. We now expect cash costs related to mergers and acquisitions (M&A), Telsa litigation, and restructurings to be above our previous forecast for at least fiscal years 2026 and 2027. "Although we expect continued stable performance in MATW's memorialization segment, higher costs have increased our leverage expectations for the company to the mid-5.0x area in 2026 (from our previous expectation of 4.8x), improving to about the 5.0x area in 2027. "In addition, we now expect reported free operating cash flow of about $9 million in 2026, improving to about $18 million in 2027." At this level, MATW will likely need to rely on its available liquidity to fund shareholder distributions and its debt amortization in the near-to-medium term. The negative outlook reflects the risk of higher leverage and weaker cash flows stemming from higher-than-expected strategic and other costs. Operationally, MATW performed in line with expectations in the first quarter of fiscal 2026, with a seasonally low period in its memorialization segment, which is now the main contributor to EBITDA following the company's recent business divestments. However, expenditures incurred during the quarter related to cost-reduction initiatives and the ongoing Tesla legal dispute within MATW's industrial technologies business were above expectations. S&P said, "We now believe these costs will be above our previous forecast, leading to leverage increasing above 5x for 2026 and 2027, and resulting in discretionary cash flow deficits (after shareholder distributions) through at least 2027. Furthermore, we believe there is a risk that these costs will trend above our revised expectations or be sustained for even longer, given the overall uncertainty." Furthermore, subsequent to its first quarter, the company called its notes and amended its secured credit agreement. S&P said, "Following these actions, we believe MATW's liquidity position is about $300 million-$320 million. We expect reported free cash flow of about $9 million in 2026, improving to about $18 million in 2027." Although this level of cash flow will be sufficient to cover debt amortization, the company will likely rely on its liquidity position to maintain its dividend for at least the next two years. Before this withdrawal, the negative outlook reflected the risk that the impact from costs related to M&A, litigation, restructurings, and Tesla could increase adjusted leverage above S&P's downside threshold of 6x. It also reflects the risk that these costs could lead to sustained negative discretionary cash flow, forcing MATW to rely on liquidity or additional debt to help fund its dividend and mandatory debt amortization. MAZCOTA LLC: Seeks to Hire Wagoner Bankruptcy Group as Attorney --------------------------------------------------------------- Mazcota, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Missouri to hire Wagoner Bankruptcy Group, P.C. d.b.a. W M Law as attorney. The firm's services include: a. preparation of the bankruptcy forms and schedules, attendance at the 341 meeting and other court hearings; b. preparation of the disclosure statement and Chapter 11 plan, client conferences, filing monthly operating reports, phone calls, emails, dealing with creditors, and resolving confirmation issues; and c. assistance of the Debtor with any additional requirements that come due as a result of seeking relief as a debtor under Chapter 11. The firm will be paid at these hourly rates: Attorney, Ryan A. Blay $400 Attorney, Jeffrey L. Wagoner $300 Attorney, Errin P. Stowell $300 Attorney, Ryan M. Graham $300 Attorney, Chelsea Williamson $300 Attorney, Megan M. Tiede $275 Attorney, Bryan P. Cardwell $275 Attorney, Luke Trusdale $250 Paralegal, Douglas Sisson $175 Paralegal, Ana Van Noy $175 Paralegal, Betsy Hayman $175 Paralegal, Rosana Tovalin $175 Paralegal, Sylvia Camacho $175 Paralegal, Michael Sandri $175 The firm will be paid a retainer in the amount of $20,000 and will also be reimbursed for reasonable out-of-pocket expenses incurred. Ryan Blay, Esq., a partner at Wagoner Bankruptcy Group, P.C. d.b.a. W M Law, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Ryan A. Blay, Esq. Wagoner Bankruptcy Group, P.C. 15095 W. 116th St. Olathe, KS 66062 Tel: (913) 422-0909 Fax: (913) 428-8549 Email: blay@wagonergroup.com About Mazcota LLC Mazcota, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Mo. Case No. 26-50059) on February 18, 2026, with $50,001 to $100,000 in assets and $1 million to $10 million in liabilities. Judge Cynthia A. Norton presides over the case. Ryan A. Blay, Esq., at Wm Law represents the Debtor as bankruptcy counsel. MEDICAL REVIEW: Crescent Capital Marks $64,000 1L Loan at 25% Off ----------------------------------------------------------------- Crescent Capital BDC, Inc. has marked its $64,000 loan extended to Medical Review Institute of America to market at $48,000 or 75% of the outstanding amount, according to Crescent Capital's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC, Inc. is a participant in a Senior Secured First Lien Revolver extended to Medical Review Institute of America. The 1L Loan accrues interest at a rate of P + 500 (100 Floor), 11.75% per annum. The 1L Loan matures on July 2030. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About Medical Review Institute of America Medical Review Institute of America appears to provide specialized medical review and evaluation services, likely supporting insurers, health systems and other stakeholders with clinical assessments and expert opinions. MERICAL LLC: Crescent Capital Marks $8.4MM 1L Loan at 56% Off ------------------------------------------------------------- Crescent Capital BDC, Inc. has marked its $8,470,00 loan extended to MeriCal, LLC to market at $3,768,000 or 44% of the outstanding amount, according to Crescent Capital's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC, Inc. is a participant in a Unitranche First Lien Term Loan extended to MeriCal, LLC. The 1L Loan is on non-accrual status. The 1L Loan matures on Jan. 1, 2026. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About MeriCal, LLC MeriCal, LLC is a manufacturer and contract packager of nutritional supplements and related health and wellness products. MERICAL LLC: Crescent Capital Marks $920,000 1L Loan at 31% Off --------------------------------------------------------------- Crescent Capital BDC, Inc. has marked its $920,000 loan extended to MeriCal, LLC to market at $632,000 or 69% of the outstanding amount, according to Crescent Capital's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC, Inc. is a participant in a Senior Secured First Lien Revolver extended to MeriCal, LLC. The 1L Loan is on non-accrual status. The 1L Loan matures on Jan. 1, 2026. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About MeriCal, LLC MeriCal, LLC is a manufacturer and contract packager of nutritional supplements and related health and wellness products. MODERN MEDICAL: Amy Denton Mayer Named Subchapter V Trustee ----------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Amy Denton Mayer of Stichter Riedel Blain & Postler, P.A. as Subchapter V trustee for Modern Medical Aesthetics, LLC. Ms. Mayer will be paid an hourly fee of $400 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Mayer declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Amy Denton Mayer Stichter Riedel Blain & Postler P.A. 110 East Madison Street, Suite 200 Tampa, FL 33602 Phone: (813)229-0144 Email: amayer@subvtrustee.com About Modern Medical Aesthetics LLC Modern Medical Aesthetics, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-01368) on February 23, 2026, with $100,001 to $500,000 in both assets and liabilities. Jake C. Blanchard, Esq., at Blanchard Law, P.A. represents the Debtor as legal counsel. MOUNTAINEER MERGER: S&P Rates $54.8MM Priming Term Loans 'CCC-' --------------------------------------------------------------- S&P Global Ratings assigned its 'CCC-' issue-level rating to Mountaineer Merger Corp.'s (CCC/Negative) $54.8 million priming term loan and $50 million priming delayed-draw term loan due in 2030. The recovery rating is '5', indicating its expectation of modest (10%-30%; rounded estimate: 10%) recovery in the event of default. Similar to its existing term loan, the priming facilities will pay interest of SOFR + 800 basis points (bps), allowing for the option of 700 bps of payment-in-kind (PIK), and they don't have annual amortization. S&P said, "In addition, we lowered our issue-level rating on the company's existing term loan due 2030 to 'CC' from 'CCC-'. This reflects our revision of the recovery rating to '6' from '5' due to lower recovery prospects given the increased priority debt in the company's capital structure. The '6' recovery rating indicates our expectation for negligible (0%-10%; rounded estimate: 0%) recovery in the event of a default. The outstanding balance of $2.5 million under the company's existing term loan facility consists of a small portion of lenders that didn't roll up into the priming term loan facility, which we view as immaterial. "We plan to discontinue our issue-level rating on the company's prior $25 million delayed-draw term loan because it was made fungible to the existing term loan and rolled up into the priming term loan." The additional $50 million liquidity provided by the priming delayed-draw term loan will support the company's efforts to turn around its operations. The company plans to use these funds to cover operating expenses and invest in fresh merchandise, which should improve its inventory position. Although the loan provides much-needed liquidity in the short term, the accumulating nature of the PIK interest component is an additional longer-term hurdle for the company to overcome in its efforts to strengthen credit metrics. S&P said, "Our 'CCC' issuer credit rating and negative outlook on Mountaineer Merger Corp. are unchanged. The company, which operates as Gabe's, has had pronounced revenue declines due to insufficient inventory and soft consumer demand. This led to margin pressures and a reported free operating cash flow (FOCF) deficit of $47 million in the third quarter of 2025 on a year-to-date basis. We believe the company's liquidity challenges will continue given the expected FOCF deficits and constrained availability under its asset-based lending (ABL) facility." Issue Ratings--Recovery Analysis Key analytical factors -- Gabe's capital structure consists of its existing $175 million ABL facility (unrated) due in 2027, a $50 million priming delayed-draw term loan, a $54.8 million priming term loan, and a $2.5 million existing initial term loan due in 2030. -- Mountaineer Merger Corp., a subsidiary of Mountaineer Ultimate Holdings LLC, is the borrower and reporting entity. -- S&P said, "We assigned our 'CCC-' issue-level rating to Gabe's $54 million first-lien term loan and $50 million delayed-draw term loan. The '5' recovery rating reflects our expectation for modest (10%-30%; rounded estimate: 10%) recovery." -- S&P's simulated default scenario considers a default in 2027 due to Gabe's inability to integrate its Old Time Pottery acquisition, greater competitive pressures, disruption in product sourcing, and a macroeconomic slowdown that significantly reduces consumer spending. In turn, substantial negative same-store sales drastically reduce EBITDA and compress margins. -- S&P said, "We use an enterprise valuation (EV) approach to assess its recovery prospects because we believe lenders would receive the greatest recovery through reorganization. We apply a 5x multiple, in line with the multiples we use for retail peers." Simulated default assumptions -- Simulated year of default: 2027 -- EBITDA at emergence: About $26 million -- Implied EV multiple: 5x -- Estimated gross EV at emergence: $132 million Simplified waterfall -- Net EV after 5% administrative costs: $125 million -- ABL claims: about $109 million -- Collateral value available to first-lien creditors: about $16 million -- Priming first-lien credit facility claims: $119 million -- Recovery expectations: 10%-30%; rounded estimate:10% -- Existing first-lien credit facility claims: $3 million -- Recovery expectations: 0%-10%; rounded estimate:0% All debt amounts include six months of prepetition interest. MWL LLC: Seeks to Hire Riggi Law Firm as Bankruptcy Counsel ----------------------------------------------------------- MWL, LLC seeks approval from the U.S. Bankruptcy Court for the District of Nevada to hire Riggi Law Firm as attorney. The firm's services include: (a) institute, prosecute, or defend any contested matters arising out of this bankruptcy proceeding in which the Debtor may be a party; (b) assist in the recovery and obtaining necessary court approval for recovery and liquidation of estate assets, and assist in protecting and preserving the same where necessary; (c) assist in determining the priorities and status of claims and in filing objections thereto where necessary; (d) assist in preparation of a Chapter 11 plan; and (e) advise the Debtor and perform all other legal services which may be or become necessary in this bankruptcy proceeding. The firm will be paid at these rates: Partners $500 per hour Associates $195 per hour The firm received from the Debtor a retainer of $10,000, plus a filing fee of $1,738. David Riggi, Esq. disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: David A. Riggi, Esq. Riggi Law Firm 7900 W. Sahara Ave. #100 Las Vegas, NV 89117 Telephone: (702) 463-7777 Facsimile: (888) 306-7157 Email: RiggiLaw@gmail.com About MWL, LLC MWL, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Nev. Case No. 25-17315) on December 3, 2025, listing $1,000,001 to $10 million in both assets and liabilities. Judge Natalie M Cox presides over the case. David A. Riggi, Esq. at Riggi Law Firm serves as the Debtor's counsel. NAILOR SERVICES: Taps Edwin M. Shorty Jr. & Associates as Counsel ----------------------------------------------------------------- Nailor Services, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Louisiana to hire the Law Firm of Edwin M. Shorty, Jr. & Associates, A.P.L.C. 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 management and operation of its businesses and properties; b. attend meetings with representatives of the Debtor's creditors and other parties in interest; c. take all necessary action to protect and preserve the estate of the Debtor; d. prepare on behalf of the Debtor motions, applications, answers, orders, reports, and papers necessary to the administration of the Debtor's estates; e. take any necessary action on behalf of the Debtor to obtain confirmation of its plan; f. appear before this Court to protect the interests of the Debtor before this Court; g. perform all other necessary legal services and provide all other necessary legal advice to the Debtor in connection with this chapter 11 case; h. represent the Debtor in connection with obtaining post-petition financing, if any; i. advise the Debtor concerning and assisting in the negotiation and documentation of financing agreements, cash collateral orders and related transactions; j. investigate the nature and validity of liens asserted against the property of the Debtor, and advising the Debtor concerning the enforceability of said liens; k. investigate and advise the Debtor concerning, and taking such action as may be necessary to collect, income and assets in accordance with applicable law, and the recovery of property for the benefit of the estates of the Debtor; l. advise and assist the Debtor in connection with any potential property dispositions; m. advise the Debtor concerning executory contract and unexpired lease assumptions, assignments and rejections and lease restructuring and recharacterizations; n. assist the Debtor in reviewing, estimating and resolving claims asserted against the estate; o. commence and conduct litigation necessary and appropriate to assert rights held by the Debtor, protect assets of the chapter 11 estate or otherwise further the goal of completing the successful reorganization of the Debtor; and p. perform all other legal services for the Debtor which may be necessary and proper in these proceedings. The firm will be paid at these rates: Edwin M. Shorty, Jr. $350 per hour Trendell Shorty $175 per hour Paralegals $85 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Edwin M. Shorty, Jr, a partner at Edwin M. Shorty, Jr. & Associates, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Edwin M. Shorty, Jr., Esq. Edwin M. Shorty, Jr. & Associates, A.P.L.C. 650 Poydras Street, Suite 2515 New Orleans, LA 70130 Tel: (504) 207-1370 About Nailor Services LLC Nailor Services, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. E.D. La. Case No. 26-10127) on January 21, 2026, with up to $50,000 in assets and liabilities. Judge Meredith S. Grabill presides over the case. Edwin M. Shorty, Jr., Esq., represents the Debtor as legal counsel. NATGASOLINE LLC: Moody's Affirms B3 CFR & Alters Outlook to Stable ------------------------------------------------------------------ Moody's Ratings affirmed Natgasoline LLC's (Natgasoline) B3 corporate family rating and the B3-PD probability of default rating. Moody's also affirmed the B3 rating on the senior secured bank credit facilities. The rating outlook was changed to stable from positive. RATINGS RATIONALE Natgasoline's B3 corporate family rating is supported by the world-scale methanol production facility with access to low-cost natural gas, placing it on the lower end of the global cost curve when it runs consistently. The rating is also supported by improved operating performance in 2025 as the plant's on-stream rate ranged between 97% and 98% in the first nine months of the year after the inlet failure and fire in September 2024 that caused unplanned downtime for about 2.5 months. Moody's views the change in ownership also as credit positive. Methanex Corporation (Ba2, stable) which acquired a 50% stake in Natgasoline in June 2025 from OCI N.V. (unrated), has extensive expertise in operating methanol plants. Under the existing agreements, Methanex and another shareholder Proman USA that operates through Consolidated Energy Limited (Caa1, positive) provide offtake and marketing responsibilities and are obligated to purchase all Natgasoline's production volumes at a discount to market-based US contract prices and to sell the offtake into the regional and global methanol markets. This eliminates sales volume risk, but earnings still depend on volatile methanol prices and gas costs. The rating is constrained by the company's small scale as measured by revenue, limited operational and product diversity with a single site location along the Gulf Coast and a track record of operational challenges that prevented the company from running at full capacity and generating consistent earnings and cash flow. Leverage has fluctuated between 4.3x and 24.9x in the last five years as the company's performance was affected by operational difficulties and volatile pricing for methanol, its single product, and natural gas prices, its main raw material. Moody's adjusted debt/EBITDA stood at 7.3x in the twelve months ended September 2025 and is projected to decline to about 6.0x in 2025, excluding insurance proceeds to cover business interruption and repairs. This assumes average methanol prices of $290/ton in 2025 and 96% utilization rate. At low prices of $250/ton and similarly high utilization rate leverage would rise again to over 10x and interest coverage would fall below 1.5x. If the company can operate the plant at nameplate capacity it generates strong free cash flow at mid-cycle methanol prices of $350/ton. However, methanol prices are very volatile and currently are below the mid-cycle long-term average, which would impact the company's performance and liquidity. The company needs to continue to demonstrate high on-stream rates to build a track record of consistent performance. In addition, the company needs to resolve its violations under the air permit from the Texas Commission on Environmental Quality (TCEQ) for which it has accrued $10 million in the third quarter of 2025. The company was fined $830,574 by the TCEQ for previous violations during the 2019-2021 period for exceeding permitted NOx emissions, failure to test equipment on schedule and submitting inaccurate reports. The company also needs to address its upcoming maturities in a timely manner. Moody's expects Natgasoline to have adequate liquidity under Moody's operating assumptions in 2026. The company had a cash balance of $60.5 million at the end of September 2025, including $30 million in restricted cash. The $60 million revolver due in 2028 is undrawn. The revolver has a maximum first lien net leverage covenant of 3.5x. The company would not be in compliance with the covenant and therefore cannot have any revolver balance outstanding at the end of each quarter. This limits its liquidity and the company has to rely on cash on hand and earnings to pay off approximately $43 million in revenue bonds in 2026 and $48 million of revenue bonds that mature in 2027, part of $336 million of revenue bonds with final maturity in 2031. The $525 million term loan is due in 2030 and has annual amortization payments of $5.25 million. The company needs to either refinance the revenue bonds or operate consistently to generate strong cash flow to be able to make revenue bond amortization payments. The stable outlook reflects the plant's improved operating performance. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS -- Moody's could upgrade the rating if the company improves its financial policy, including refinancing debt in timely manner. Moody's could also upgrade the rating if the company reduces balance sheet debt and credit metrics improve with debt/EBITDA declining below 5x. -- Moody's could downgrade the rating if liquidity deteriorates. Moody's could also downgrade the rating if debt/EBITDA remains above 6.0x, EBITDA to interest is below 1.5x and free cash flow is consistently negative. Natgasoline LLC, headquartered in Delaware, is a leading producer of methanol, jointly owned by Methanex Corporation (50%, Ba2, stable) and Proman USA through Consolidated Energy Limited (50%, Caa1, positive). Natgasoline's sole product is methanol, an intermediate product used in the manufacture of formaldehyde, acetic acid, methyl tertiary butyl ether (MTBE, a gasoline oxygenate no longer used in the US), and as a fuel additive, fuel alternative, and feedstock to MTO facilities in China. The company generated sales of $395 million in the twelve months ended September 2025. The principal methodology used in these ratings was Chemicals published in February 2026. 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. NAVA HEALTH MD: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------------- Debtor: Nava Health MD, Inc. a/k/a NAVA Health and Vitality Center, NAVA Health and/or NAVA Labs f/k/a NAVA Maryland, LLC f/k/a NAVA Management, LLC f/k/a NAVA Health MD, LLC 8316 Arlington Boulevard Suite 206 Fairfax, VA 22031 Business Description: Nava Health MD, Inc. operates in the functional medicine, longevity, and wellness sector, providing personalized, integrative care through physical centers and digital platforms. Through its management of Nava Health Medical Group, LLC, the company offers physician-supervised hormone optimization, nutrition, IV therapy, diagnostic testing, and wellness programs aimed at improving health span and biological-age markers. Chapter 11 Petition Date: March 1, 2026 Court: United States Bankruptcy Court Eastern District of Virginia Case No.: 26-10497 Judge: Hon. Brian F Kenney Debtor's Counsel: Kevin ODonnell, Esq. HENRY AND ODONNELL PC 5791 Bush Hill Drive Alexandria, VA 22314 Tel: (703) 861-2662 Email: kmo@henrylaw.com Total Assets: $4,489,972 Total Liabilities: $16,419,176 The petition was signed by Bernaldo Dancel as CEO. 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/UXDIOOA/Nava_Health_MD_Inc__vaebke-26-10497__0001.0.pdf?mcid=tGE4TAMA NAVA HEALTH: Case Summary & 20 Largest Unsecured Creditors ---------------------------------------------------------- Debtor: NAVA Health Medical Group, LLC f/k/a Integrated Wellness MD, LLC 8316 Arlington Boulevard Suite 206 Fairfax, VA 22031 Business Description: NAVA Health Medical Group, LLC operates a functional and integrative medical practice emphasizing preventive and personalized healthcare, combining advanced diagnostics, physician-guided care, and regenerative therapies to address underlying causes of health concerns and support long-term vitality. The practice offers services including hormone replacement therapy, testosterone replacement therapy, stem cell therapy, IV therapy, PRP injections, gut health optimization, anti-aging medicine, and related diagnostic testing and aesthetic treatments. Nava Health maintains multiple locations including Ashburn, VA; Bethesda, MD; Columbia, MD; Fairfax, VA; and offers telemedicine services. Chapter 11 Petition Date: March 1, 2026 Court: United States Bankruptcy Court Eastern District of Virginia Case No.: 26-10498 Judge: Hon. Brian F Kenney Debtor's Counsel: Kevin ODonnell, Esq. HENRY AND ODONNELL PC 5791 Bush Hill Drive Alexandria, VA 22314 Tel: (703) 861-2662 E-mail: kmo@henrylaw.com Total Assets: $1,061,916 Total Liabilities: $9,779,723 The petition was signed by Bernaldo Dancel as CEO. 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/UZW6ZJA/NAVA_Health_Medical_Group_LLC__vaebke-26-10498__0001.0.pdf?mcid=tGE4TAMA NBA PROPERTIES: Taps Coldwell Banker Realty as Real Estate Broker ----------------------------------------------------------------- NBA Properties Inc seeks approval from the U.S. Bankruptcy Court for the Central District of California to hire Coldwell Banker Realty as real estate broker. The firm will market and sell the Debtor's property located at 108 E Grandview Ave., Sierra Madre, CA 91024. The firm will receive commission equal to 2% of sales price. Coldwell Banker Realty 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: Chelby Crawford Coldwell Banker Realty 388 S Lake Ave. Pasadena, CA Home: (626) 536-2002 Mobile: (626) 536-2002 Email: chelby.crawford@cbrealty.com About NBA Properties Inc. NBA Properties Inc. owns three assets in California -- Pasadena, Sierra Madre, and Victorville -- including 9.7 acres of vacant land subdivided into 37 lots. The portfolio is collectively valued at $7.25 million. NBA Properties Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-14395) on May 27, 2025. In its petition, the Debtor reports total assets of $7,283,500 and total liabilities of $6,762,891. Honorable Bankruptcy Judge Sheri Bluebond handles the case. The Debtors are represented by Thomas B. Ure, Esq. at URE LAW FIRM. NEO ZONE: Seeks to Hire Gutnicki LLP as Co-Bankruptcy Counsel ------------------------------------------------------------- Neo Zone, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois to hire Miriam Stein Granek, Esq. of Gutnicki LLP to serve as co-bankruptcy counsel. Ms. Granek will provide these services: (a) negotiation with creditors; (b) preparation of a plan; (c) examining and resolving claims filed against the estate; (d) preparation and prosecution of adversary proceedings, if any; (e) preparation of pleadings filed in the case; (f) interaction with the Sub V Trustee and U.S. Trustee; (g) attendance at court hearings; and (h) otherwise to represent the Debtor in matters before the Court. Ms. Granek has agreed to voluntarily reduce her normal hourly rate to $450 for this case. The attorney rates at Gutnicki LLP range from $345 per hour to $850 per hour. Granek believes that she does not hold or represent an interest adverse to the Estate, and that she is a disinterested person within the meaning of Sec. 327(a) of the Bankruptcy Code, according to court filings. The firm can be reached at: Miriam Stein Granek, Esq. GUTNICKI LLP 4711 Golf Road, Suite 200 Skokie, IL 60076 Telephone: (847) 745-6592 E-mail: mgranek@gutnicki.com About Neo Zone Inc. Neo Zone, Inc., a company based in Shorewood, Illinois, provides intermodal transportation and logistics services, including container drayage, yard operations, and related freight handling, serving customers in the United States. It operates a fleet of intermodal chassis, trailers, and material-handling equipment supporting port-and terminal-based cargo movements. Neo Zone filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-19703) on December 29, 2025, listing between $1 million and $10 million in assets and liabilities. Judge Deborah L. Thorne presides over the case. David Freydin, Esq., at the Law Offices of David Freydin Ltd. represents the Debtor as bankruptcy counsel. NEW HOPE: Moody's Affirms B3 Rating on 2020A&B Housing Bonds ------------------------------------------------------------ Moody's Ratings has affirmed the B3 ratings on New Hope Cultural Education Facilities Finance Corporation's (TX) $34,530,000 outstanding Student Housing Revenue Bonds (NCCD - Brenham Properties LLC - Blinn College Project), Series 2020A and $615,000 outstanding Taxable Student Housing Revenue Bonds (NCCD - Brenham Properties LLC - Blinn College Project), Series 2020B (collectively the "Bonds"). The outlook was revised to stable from negative. The revision to a stable outlook reflects steadied occupancy and modest enrollment growth, which together indicate that the project has established a more constant operating baseline. RATINGS RATIONALE Financial performance at NCCD-Brenham Properties, LLC remains weak, reflecting ongoing enrollment challenges at Brenham campus of Blinn College (A1, stable). Occupancy continues to exhibit pronounced seasonality, improving to approximately 85% in the Fall 2025 semester before declining to about 66% in the spring. While this seasonal softness persists, average occupancy across the fall and spring semesters has stabilized in FY2025 and FY2026 to approximately 75%, supported in part by modest improvement in overall college enrollment, which increased by 1% in FY2026. Nevertheless, absent continued expense subordination by management, current revenues are expected to only narrowly cover annual debt service in FY2026. Moody's projects that, under current operating trends, debt service coverage will decline to approximately 0.94x in FY2027, increasing the likelihood of continued draws on the debt service reserve fund. RATING OUTLOOK The stable outlook reflects stabilization in the project's occupancy trends, albeit at a very low level, with annual occupancy averaging approximately 75% year over year. Overall college enrollment increased by 1% in FY 2026, providing modest but positive support for housing demand. Together, consistent occupancy levels and improving enrollment indicate that the project has established a more stable operating baseline. However, the B3 rating captures that there might be some volatility in operating performance going forward but Moody's do not anticipate a material depletion of the debt service reserve fund (DSRF) in the nearterm. FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATINGS -- Sustained enrollment and occupancy growth and/or financial support from the College that positively impacts debt service coverage to above 1.1x FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATINGS -- Significant taps to the debt service reserve fund -- Prolonged sub-par occupancy and rent levels below prior years PROFILE The Obligor and Owner, NCCD - Brenham Properties LLC, is a single member limited liability company organized and existing under the laws of the State of Texas for the purpose of developing and financing certain facilities for the benefit of Blinn College. The sole member of the Obligor is National Campus Community Development Corporation, a 501(c)(3) Texas non-profit corporation. METHODOLOGY The principal methodology used in these ratings was Global Housing Projects published in August. NEW PIPE PLUMBING: Gets Interim OK to Use Cash Collateral --------------------------------------------------------- New Pipe Plumbing, Inc. received interim approval from the U.S. Bankruptcy Court for the Southern District of Florida, Miami Division, to use cash collateral. The court authorized the Debtor to use cash collateral through March 23 to fund operations in accordance with its budget. The Debtor intends to use cash collateral to meet current operating obligations, purchase necessary goods and services, or make payroll payments. As protection for using cash collateral, the court authorized the Debtor to grant its lender a replacement lien on post-petition property similar to the lender's pre-bankruptcy collateral. A creditor identified as SouthState Bank, N.A., in connection with a U.S. Small Business Administration loan, has asserted a security interest in substantially all of the Debtor's money and cash assets through a UCC-1 financing statement filed in Florida. The Debtor lists the claim amount at approximately $101,230. The order is available at https://is.gd/l62MPs from PacerMonitor.com. The court will hold a further hearing on March 23. About New Pipe Plumbing Inc. New Pipe Plumbing Inc. is a plumbing contractor serving residential and commercial customers in South Florida. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-12382) on February 26, 2026. In the petition signed by Sharon R. Martin, treasurer, the Debtor disclosed up to $500,000 in both assets and liabilities. Robert Stiberman, Esq., at Stiberman Law, P.A., represents the Debtor as legal counsel. NINE ENERGY: Completes Chapter 11 Restructuring, Cuts $320M in Debt ------------------------------------------------------------------- Nine Energy Service, Inc. announced on March 5, 2026 the successful completion of its financial restructuring process. On February 1, 2026, Nine and its U.S. and Canadian subsidiaries filed voluntary, prepackaged chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas. Nine emerged from the Chapter 11 Cases and Nine's plan of reorganization, confirmed by the Court on March 4, 2026, is now effective. Nine achieved the objectives it set for this process, including reducing secured debt by approximately $320 million and annual interest expense by $40 million. Nine also received an exit ABL facility of $135 million from existing ABL lenders upon emergence from the Chapter 11 Cases. This will provide Nine with greater optionality and flexibility to support the Company's long-term financial health. "Today marks the beginning of a new chapter for Nine as we move forward financially stronger, better positioned for future growth," said Ann Fox, President and Chief Executive Officer, Nine Energy Service, Inc. "With our financial restructuring process complete, Nine now has greater optionality and flexibility to support our success and enable us to continue providing customers with exceptional services safely and efficiently. I am grateful to our talented Nine team for their continued hard work and commitment, as well as our customers and vendors for their support and partnership throughout this process. I am confident that Nine has a bright future ahead." Nine is advised in this matter by Kirkland & Ellis LLP and Kane Russell Coleman Logan PC as legal counsel, Moelis & Company as investment banker and FTI Consulting as financial and communications advisors. Certain noteholders under the Company's senior secured notes indenture are advised by Milbank LLP as legal counsel and Houlihan Lokey as investment banker. The ABL lenders are advised by Paul Hastings LLP as legal counsel. About Nine Energy Service Nine is a leading oilfield services business that supplies cutting edge solutions for unconventional oil and gas resource extraction and development across North America and abroad. Nine's culture is driven by an intense focus on performance and wellsite execution as well as a commitment to forward-leaning technologies that aid the development of smarter, customized applications that drive efficiencies and reduced emissions for customers. Nine is headquartered in Houston, Texas with operational reach that extends across all major onshore basins in the United States and Canada. On the Web: http://www.nineenergyservice.com/ Nine Energy Service, Inc., and its subsidiaries sought Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 26-90295) on Feb. 1, 2026. Nine is advised in this matter by Kirkland & Ellis LLP and Kane Russell Coleman Logan PC as legal counsel, Moelis & Company as investment banker and FTI Consulting as financial and communications advisors. Epiq is the claims agent. Judge Christopher M. Lopes oversees the case. Certain noteholders under the Company's senior secured notes indenture are advised by Milbank LLP as legal counsel and Houlihan Lokey as investment banker. White Oak Commercial Finance, LLC, as DIP Agent, is advised by Paul Hastings LLP as legal counsel and Blake, Cassels & Graydon LLP, as Canadian counsel. NINE ENERGY: Court Confirms Joint Prepackaged Chapter 11 Plan ------------------------------------------------------------- Judge Christopher Lopez of the U.S. Bankruptcy Court for the Southern District of Texas approved the Disclosure Statement and confirmed the Amended Joint Prepackaged Plan of Reorganization of Nine Energy Service, Inc. and its debtor-affiliates. The Disclosure Statement contains (a) sufficient information of a kind necessary to satisfy the disclosure requirements of all applicable non-bankruptcy laws, rules, and regulations, including the Securities Act, and (b) "adequate information" (as such term is defined in section 1125(a) of the Bankruptcy Code and used in section 1126(b)(2) of the Bankruptcy Code) with respect to the Debtors, the Plan, and the transactions contemplated therein. The Filing of the Disclosure Statement with the Bankruptcy Court satisfied Bankruptcy Rule 3016(b). The Debtors’ use of the Disclosure Statement in solicitation of acceptances of the Plan is approved and the Disclosure Statement is approved on a final basis pursuant to this Confirmation Order. Class 4 (Senior Secured Notes Claims) is the only class of claims entitled under the Plan to vote to accept or reject the Plan (the "Voting Class"). The ballots the Debtors used to solicit votes to accept or reject the Plan from Holders of Claims in the Voting Class (the "Ballots") adequately addressed the particular needs of these Chapter 11 Cases and were appropriate for Holders of Claims in the Voting Class to vote to accept or reject the Plan. Under section 1126(f) of the Bankruptcy Code, Holders of Claims in Class 1 (Other Secured Claims), Class 2 (Other Priority Claims), Class 3 (Prepetition ABL Claims), and Class 5 (General Unsecured Claims) (collectively, the "Unimpaired Classes") are Unimpaired and conclusively presumed to have accepted the Plan. The Debtors were not required to solicit votes from the Holders of Claims and Interests in Class 8 (Nine Energy Equity Interests) and Class 9 (Section 510(b) Claims) (collectively, the "Deemed Rejecting Classes"), which were Impaired and deemed to reject the Plan under the Bankruptcy Code. Holders of Claims and Interests in Class 6 (Intercompany Claims) and Class 7 (Intercompany Interests) (such Classes together with the Unimpaired Classes and the Deemed Rejecting Classes, the "Non-Voting Classes") are Unimpaired and conclusively presumed to have accepted the Plan (to the extent Reinstated) or are Impaired and deemed to reject the Plan (to the extent canceled), and, in either event, are not entitled to vote to accept or reject the Plan. No further notice shall be required for Holders of Claims and Interests in Non-Voting Classes. The Plan is approved in its entirety and confirmed under section 1129 of the Bankruptcy Code To the extent that any objections (including any reservations of rights, joinders, or statements contained therein) pertaining to the final approval of the Disclosure Statement or Confirmation of the Plan that have not been withdrawn, waived, or settled before entry of this Confirmation Order, are not cured by the relief granted in this Confirmation Order, or have not otherwise been resolved as stated on the record at the Combined Hearing, all such objections (including any reservation of rights, joinders, or statements contained therein), are overruled in their entirety and denied on the merits. A copy of the Court's Order dated March 4, 2026, is available at https://urlcurt.com/u?l=QBbqur from PacerMonitor.com. About Nine Energy Service Nine is a leading oilfield services business that supplies cutting edge solutions for unconventional oil and gas resource extraction and development across North America and abroad. Nine's culture is driven by an intense focus on performance and wellsite execution as well as a commitment to forward--leaning technologies that aid the development of smarter, customized applications that drive efficiencies and reduced emissions for customers. Nine is headquartered in Houston, Texas with operational reach that extends across all major onshore basins in the United States and Canada. On the Web: http://www.nineenergyservice.com/ Nine Energy Service, Inc., and its subsidiaries sought Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 26-90295) on Feb. 1, 2026. Nine is advised in this matter by Kirkland & Ellis LLP and Kane Russell Coleman Logan PC as legal counsel, Moelis & Company as investment banker and FTI Consulting as financial and communications advisors. Epiq is the claims agent. Judge Christopher M. Lopes oversees the case. Certain noteholders under the Company's senior secured notes indenture are advised by Milbank LLP as legal counsel and Houlihan Lokey as investment banker. White Oak Commercial Finance, LLC, as DIP Agent, is advised by Paul Hastings LLP as legal counsel and Blake, Cassels & Graydon LLP, as Canadian counsel. NMR ENTERPRISES: Hires McGrail & Bensinger as Bankruptcy Counsel ---------------------------------------------------------------- NMR Enterprises NJ LLC and Online Stores PA LLC seek approval from the U.S. Bankruptcy Court for the District of New Jersey to employ and retain McGrail & Bensinger LLP as their bankruptcy counsel. The firm will provide these services: (a) advise the Debtors with respect to their powers and duties as debtors in possession in the continued management and operation of their businesses and properties; (b) advise and consult the Debtors on the conduct of these Chapter 11 cases, including all of the legal and administrative requirements of operating in Chapter 11; (c) attend meetings and negotiate with representatives of creditors and other parties in interest; (d) take all necessary actions to protect and preserve the Debtors' estates; (e) prepare pleadings in connection with these Chapter 11 cases, including motions, applications, answers, orders, reports, and papers necessary or otherwise beneficial to the administration of the Debtors' estates; (f) appear before the Court and any appellate courts to represent the interests of the Debtors' estates; (g) take any necessary action on the Debtors’ behalf to negotiate, prepare, and obtain approval of a disclosure statement and confirmation of a Chapter 11 plan and all documents related thereto; and (h) perform all other necessary legal services for the Debtors in connection with the prosecution of these Chapter 11 cases. The firm's compensation will be based upon hourly rates of $725 to $875 for partners and specialist "of counsel" attorneys, $675 for counsel, $495 to $595 for associates, and $195 for paralegals. The Firm has agreed to discount partner rates by ten percent. The Debtors paid the Firm a retainer of $200,000, with a remaining balance of $83,206.89 as of the petition date to serve as security for post-petition services. McGrail & Bensinger LLP is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Ilana Volkov, Esq. Pearl Shah Dalsania, Esq. Cynthia L. Botello, Esq. MCGRAIL & BENSINGER LLP 888-C 8th Avenue #107 New York, NY 10019 Telephone: (201) 931-6910 E-mail: ivolkov@mcgrailbensinger.com pshah@mcgrailbensinger.com cbotello@mcgrailbensinger.com About NMR Enterprises NJ LLC NMR Enterprises NJ LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. N.J. Case No. 26-11349) on February 5, 2026. Aharon Rosenberg, chief executive officer, signed the petition. Ilana Volkov, Esq., at McGrail & Bensinger LLP, represents the Debtor as legal counsel. NMR ENTERPRISES: Retains CFGI LLC as Financial Advisor ------------------------------------------------------ NMR Enterprises NJ LLC and Online Stores PA LLC seek approval from the U.S. Bankruptcy Court for the District of New Jersey to hire CFGI, LLC to serve as their financial advisor. The firm will provide these services: (a) coordinate and manage the restructuring activities of the Debtors, including communication with secured and unsecured creditors, their professionals, and other third parties, as necessary; (b) assist with the preparation of schedules and analyses to effectuate a Chapter 11 filing; (c) assist with the preparation of schedules required during a Chapter 11 filing including business plans and financial projections, developing proposals and negotiating with creditors, 13-week cash collateral and DIP budget, monthly operating reports, weekly reporting as necessary, long-term projections and liquidation analyses; (d) provide testimony, as required; and (e) provide other financial advisory services, as requested. The Debtors have agreed to pay CFGI on an hourly basis for services rendered after the Petition Date at the following rates: Subject Matter Expert $860 Partner $860 Director/Managing Director $660 Senior Manager $550 Manager $450 Consultant $350 On January 26, 2026, CFGI received a retainer from non-debtor affiliate N&M Enterprises Inc. in the amount of $100,000. As of the Petition Date, the retainer balance was $18,508. The unapplied residual retainer will be held until the end of the Chapter 11 cases and applied to CFGI's final approved fees. CFGI does not hold or represent any interest adverse to the Debtors’ estates and believes it is a "disinterested person" as defined by section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Ilana Volkov, Esq. Pearl Shah Dalsania, Esq. Cynthia L. Botello, Esq. MCGRAIL & BENSINGER LLP 888-C 8th Avenue #107 New York, NY 10019 Telephone: (201) 931-6910 E-mail: ivolkov@mcgrailbensinger.com pshah@mcgrailbensinger.com cbotello@mcgrailbensinger.com About NMR Enterprises NJ LLC NMR Enterprises NJ LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. N.J. Case No. 26-11349) on February 5, 2026. Aharon Rosenberg, chief executive officer, signed the petition. Ilana Volkov, Esq., at McGrail & Bensinger LLP, represents the Debtor as legal counsel. OAK GROVE: Taps Jones Lang, Coastal Storage as Real Estate Brokers ------------------------------------------------------------------ Oak Grove Stor-All LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to hire Paul Hanna of Jones Lang LaSalle Brokerage, Inc. and Josh Koerner of Coastal Storage Group, LLC as its real estate brokers. The brokers will market and sell the Debtor's properties located at 935 Oak Grove Rd, Dahlonega, GA 30533 (Lumpkin County Parcel # 060 088) and 975 Oak Grove Rd, Dahlonega, GA 30533. The firms will receive a standard commission of 6% of the sales price. JLL Brokerage and Coastal Storage have entered into a Referral Agreement which provides all gross listing commissions earned from the sale of the Property shall be divided: 84% payable to Coastal Storage and 16% payable to JLL Brokerage. JLL Brokerage and Coastal Storage are "disinterested persons" as the term is defined in 11 U.S.C. Sec. 101(14), according to court filings. The brokers can be reached through: Paul Hanna Jones Lang LaSalle Brokerage, Inc. 3344 Peachtree Rd, NE Suite 1200 Atlanta, GA 30326 Phone: (404) 995-2427 Email: paul.hanna@jll.com - and - Josh Koerner Coastal Storage Group, LLC 4025 Sunbeam Rd Jacksonville, FL 32257 Phone: (904) 591-0140 Email: josh@coastalstorage.com About Oak Grove Stor-All LLC Oak Grove Stor-All, LLC operates a storage facility in Dahlonega, Georgia. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-20015) on January 5, 2026. In the petition signed by Blair Housley, chief executive officer, the Debtor disclosed up to $1 million in both assets and liabilities. Judge James R. Sacca oversees the case. Bethany Strain, Esq., at Jones & Walden LLC, represents the Debtor as legal counsel. OAKTREE OCALA: Seeks 45-Day Extension of Plan Filing Deadline ------------------------------------------------------------- Oaktree Ocala JV, LLC and ASAP Highline Ocala, LLC asked the U.S. Bankruptcy Court for the Southern District of New York to extend their exclusivity periods to file a plan of reorganization and obtain acceptance thereof for additional 45 days. On January 26, the Debtors timely filed their Joint Plan of Reorganization Under Chapter 11 of the Bankruptcy Code and Disclosure Statement for Debtors' Chapter 11 Plan. The Debtors request an extension of the Exclusivity Periods to continue working toward their goal of confirming the Plan. CPIF MRA, LLC has consented to such extension. As the Debtors continue to seek confirmation of the Plan, the companies seek a further extension of the Exclusivity Periods so the current Plan, as may be amended, can be confirmed. In the six months that Debtors have been in chapter 11, the companies continue to comply with all the requirements under the Bankruptcy Code, Bankruptcy Rules, and the U.S. Trustee Guidelines. Schedules and Statement of Financial Affairs were timely filed, and an order setting a claims bar date was entered. Debtors continue to use cash collateral with CPIF's consent, Debtors' bills are paid when due, and monthly operating reports are timely filed. Moreover, the Debtors are not seeking to extend the Exclusivity Periods to pressure creditors to submit to their demands. On the contrary, Debtors are seeking the extension to address and resolve open issues with parties consensually. Thus, extending the Exclusivity Periods will permit Debtors to confirm the Plan that benefits all creditors and interest holders, so competing plans do not derail the Debtors' plan process. The Debtors' Counsel: Kenneth M. Lewis, Esq. Paul M. Nussbau, Esq. WHITEFORD, TAYLOR & PRESTON L.L.P. 444 Madison Avenue, 4th Floor New York, NY 10022 Tel: (914) 761-8400 E-mail: klewis@whitefordlaw.com pnussbaum@whitefordlaw.com About Oaktree Ocala JV LLC Oaktree Ocala JV, LLC is a real estate lessor operating under NAICS code 5311. It is based in Suffern, N.Y., with apparent operations in Ocala, Florida. It operates as a joint venture in the real estate leasing sector. Oaktree Ocala JV and ASAP Highline Ocala, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 25-22701) on July 29, 2025. In its petition, the Debtor reported between $10 million and $50 million in assets and liabilities. Judge Sean H. Lane oversees the case. The Debtor is represented by Kenneth M. Lewis, Esq., at Paul M. Nussbau, Esq. OCEANWIDE PLAZA: Claims to be Paid from Property Sale Proceeds -------------------------------------------------------------- Oceanwide Plaza LLC, filed with the U.S. Bankruptcy Court for the Central District of California a Combined Disclosure Statement and Plan of Liquidation dated February 23, 2026. The Debtor, a Los Angeles based real estate developer, is an American subsidiary of a global Chinese conglomerate. Oceanwide Real Estate Group (USA) Corp., a Delaware corporation ("OREG"), is Debtor’s sole member and its manager. The Debtor owns Oceanwide Plaza (the "Project"), an approximately 60-percent complete mixed-use development project in downtown Los Angeles situated on the Real Property. For context, prior to the Petition Date, Debtor largely self-funded Project construction. However, for short-term needs, LADI provided Debtor with up to $325 million in construction financing. In 2016, after a bidding process, Debtor hired Lendlease as its general contractor to construct the Project and Lendlease then hired over forty subcontractors. The State Court Action commenced in 2019 and involved disputes regarding the validity, priority, and amounts of various claims against the Project. After months of settlement negotiations, the parties reached the Global Settlement Agreement. As part of the Global Settlement Agreement, the state court entered the agreed final judgment on January 29, 2026. This multi-year, multi-phase litigation was consuming substantial estate resources and preventing the sale of the Real Property, ultimately leading the parties to negotiate the comprehensive Global Settlement Agreement, which was approved by this Court on February 3, 2026. The sale of the Real Property is crucial to the Consummation of the Plan and represents the fastest path to completing construction of the Project in time for the 2028 Los Angeles Olympic Games. During the course of this Chapter 11 Case, Debtor has undertaken extensive efforts to market and sell the Real Property. Debtor believes that a sale of the Real Property through bankruptcy is the best, and perhaps only, way to maximize the Real Property's value and provide creditor recoveries. On February 16, 2026, Debtor and Purchaser, KPC Square, LLC, entered into the PSA which provides, among other things, that Purchaser will acquire the PSA Property for consideration of $470,000,000.00, consisting of (i) the Credit Bid Consideration of approximately $400,000,000.00, comprised of a credit bid of the LADI Secured Claim and LL Secured Claims made in full satisfaction of such Claims pursuant to Section 363(k) of the Bankruptcy Code, and (ii) the Cash Consideration of up to $70,000,000.00. The Debtor seeks approval of the Sale to Purchaser as set forth in this Plan and pursuant to the Confirmation Order, which shall constitute the Sale Order as defined in the PSA. The closing of the Sale of the PSA Property shall occur on the Closing Date, which shall occur after entry of the Confirmation Order and prior to the Effective Date. The PSA provides for potential extensions of the Closing Date under certain circumstances. Following the closing of the Sale on the Closing Date, the Sale Proceeds shall be used by Debtor and, on and after the Effective Date, the Liquidating Trustee, to satisfy Claims as further set forth herein. Class 6 consists of General Unsecured Claims. The Debtor believes that there are approximately $161,018,015 in asserted General Unsecured Claims, excluding Intercompany Loan Claims, against the Estate. The ultimate recovery of Holders of General Unsecured Claims will depend on the Sale Proceeds generated by the Sale including an Alternative Transaction. Except to the extent that a Holder of a General Unsecured Claim agrees to less favorable treatment, in full and final satisfaction, compromise, settlement, and release of and in exchange for each General Unsecured Claim, each Holder thereof shall be paid in Cash from the Sale Proceeds and/or Plan Administration Assets to the extent available, equal to such Holder's Pro-Rata Share up to the full amount of the unpaid portion of such General Unsecured Claim on or as soon as reasonably practicable after, the later of: (A) the Initial Distribution Date; (B) the date calculated pursuant to the Disputed Creditor Reserve Treatment, if applicable; (C) such date provided for in the Liquidating Trust Agreement, or (D) as otherwise ordered by the Court. Class 6 is Impaired and entitled to vote to accept or reject the Plan. The sources of the payments to be made by the Liquidating Trustee under the Plan will be from (i) the Sale Proceeds; (ii) Plan Administration Assets; and (iii) Cash on hand, collectively, less the Post Confirmation Reserve. The Debtor asserts that it will be able to pay its Administrative Claims, Priority Tax Claims, Professional Fee Claims, Statutory Fees, GAP Claims, Class 1 Secured Tax Claims and Class 5 Other Priority Claims from the Sale Proceeds received if the Sale contemplated by the PSA is consummated, and compromise in full Classes 2 and 3 as a consequence of such Sale. The waterfall distribution to each Class will change depending on the final amount of Sale Proceeds received. A full-text copy of the Combined Disclosure Statement and Plan dated February 23, 2026 is available at https://urlcurt.com/u?l=sqi1V6 from PacerMonitor.com at no charge. Attorneys for the Debtor: Sharon Z. Weiss, Esq. Bryan Cave Leighton Paisner LLP 120 Broadway, Suite 300 Santa Monica, CA 90401-2386 Telephone: (310) 576-2100 Facsimile: (310) 576-2200 Email: sharon.weiss@bclplaw.com Jarret P. Hitchings, Esq. One Wells Fargo Center 301 S. College Street, Suite 2150 Charlotte, NC 28202 Telephone: (704) 749-8999 Facsimile: (704) 749-8990 About Oceanwide Plaza LLC An involuntary bankruptcy petition against Oceanwide Plaza LLC in Los Angeles CA, for Chapter 11 protection (Bankr. C.D. Cal. Case No. 24-11057) on February 13, 2024. Judge Deborah J Saltzman oversees the case. Bryan Cave Leighton Paisner, LLP as counsel to the Debtor. Bradley D. Sharp as chief restructuring officer. GlassRatner Advisory & Capital Group LLC, d/b/a B. Riley Advisory Services, as financial advisor and expert witness. OLIVER PACKAGING: Crescent Capital Marks $150,000 Loan at 39% Off ----------------------------------------------------------------- Crescent Capital BDC, Inc. has marked its $150,000 loan extended to Oliver Packaging LLC to market at $92,000 or 61% of the outstanding amount, according to Crescent Capital's 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission on Feb. 25, 2026. Crescent Capital BDC, Inc. is a participant in a Senior Secured First Lien Revolver loan extended to Oliver Packaging LLC. The 1L Loan accrues interest at a rate of S + 500 (100 Floor) (plus 100 PIK), 9.82% per annum. The 1L Loan matures on July 2028. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About Oliver Packaging LLC Oliver Packaging LLC is a packaging-focused company that relies on secured credit facilities to support its operating and capital needs. OLIVER PARK: Unsecureds to Split $204K via Quarterly Payments ------------------------------------------------------------- Oliver Park Apartments, LLC filed with the U.S. Bankruptcy Court for the Northern District of Georgia a Disclosure Statement for Plan of Reorganization dated February 24, 2026. The Debtor owns a 34-unit apartment complex located 740 Cooper Street, SW, Atlanta, Georgia (the "Property"). The Debtor's sole member and the manager of the Debtor is Ms. Olivia Chevannes. The Debtor purchased the Property in 2019, renovated all 14 units, and then on March 24, 2021 refinanced with the predecessor to the current secured lender, who assigned the note to the current secured lender, U.S. Bank National Association, as Trustee for the registered holders of J.P. Morgan Chase Commercial Mortgage Securities Corp., Multifamily Mortgage Pass-through Certificates, Series 2021-SB87 ("US Bank") on the same date. After the refinance, a major water leak destroyed half of the units, and the Debtor had to renovate those units all over again. The Debtor was unable to keep up with its debt service payments during the repairs after the leak. The Debtor was in the final stages of a forbearance agreement with the prior servicer for US Bank when a new servicer became involved and the Debtor received a foreclosure notice for the Property. Over the course of this case, the Debtor has also continued to run the business. The Property is managed by a third-party insider management company, OC Management, LLC. The sole member of the Debtor, Olivia Chevannes, is an owner of OC Management. OC Management has not been compensated post-petition and will continue to provide its services to the Debtor without compensation post-confirmation. Because OC Management provides services to the Debtor without compensation, the Debtor has minimal operating expenses. The Debtor continues to work to lease up the Property. Ms. Chevannes and her husband, Val Oliver, have committed to contributing a lump sum to the Debtor to fund the initial payments that come due under the Plan until the Property is at full occupancy. The Debtor estimates, based on its schedules and proofs of claims that have been filed, that there will be approximately $392,211.79 in allowed general unsecured claims, excluding any claims of insiders. The Debtor proposes to pay General Unsecured Creditors a total of $203,860.00 on a pro rata basis in equal quarterly payments of $10,193.00 over 20 quarters. On the Effective Date of the Plan, Ms. Chevannes will be the sole owner of the Debtor. She will retain her membership interest in the Debtor as of the Effective Date. Ms. Chevannes has not received any income or distributions from the Debtor post-petition. The Reorganized Debtor will not make any distributions or pay any dividends related to any Equity Interests unless and until all distributions related to all Allowed Claims in Classes 1-4 have been made in full as set forth herein. The cash distributions contemplated by the Plan shall be funded by cash generated from the operation of the Property as well as the capital contribution from Ms. Chevannes and her husband, Val Oliver. The capital contribution will fund the payments under the Plan until the Property is self-sustaining. Ms. Chevannes and Mr. Oliver will continue to make capital contributions as needed. A full-text copy of the Disclosure Statement dated February 24, 2026 is available at https://urlcurt.com/u?l=r9KSUR from PacerMonitor.com at no charge. Counsel to the Debtor: William A. Rountree, Esq. Elizabeth Childers, Esq. ROUNTREE LEITMAN KLEIN & GEER, LLC Century Plaza I 2987 Clairmont Road, Suite 350 Atlanta, GA 30329 Telephone: (404) 584-1238 Email: wrountree@rlkglaw.com echilders@rlkglaw.com About Oliver Park Apartments Oliver Park Apartments LLC leases residential real estate properties. Oliver Park Apartments sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 25-60028) on Sept. 1, 2025. In its petition, the Debtor reported up to $50,000 in assets and between $1 million and $10 million in liabilities. Judge Sage M. Sigler oversees the case. The Debtor is represented by William Rountree, Esq., at Rountree, Leitman, Klein & Geer, LLC. OMNI OPHTHALMIC: Crescent Capital Marks $1MM 1L Loan at 64% Off --------------------------------------------------------------- Crescent Capital BDC has marked its $1,025,000 loan extended to Omni Ophthalmic Management Consultants, LLC to market at $372,000 or 36% of the outstanding amount, according to Crescent Capital's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC is a participant in a Senior Secured First Lien Revolver loan extended to Omni Ophthalmic Management Consultants, LLC. The 1L Loan is on non-accrual status. The 1L Loan matures on January 2026. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About Omni Ophthalmic Management Consultants, LLC Omni Ophthalmic Management Consultants, LLC is a healthcare services company that provides management and support services to ophthalmology and eye-care practices. OMNI OPHTHALMIC: Crescent Capital Marks $260,000 1L Loan at 64% Off ------------------------------------------------------------------- Crescent Capital BDC has marked its $260,000 loan extended to Omni Ophthalmic Management Consultants, LLC to market at $94,000 or 36% of the outstanding amount, according to Crescent Capital BDC's 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC is a participant in a Senior Secured First Lien Term loan extended to Omni Ophthalmic Management Consultants, LLC. The 1L Loan is on non-accrual status. The 1L Loan matures on January 2026. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About Omni Ophthalmic Management Consultants, LLC Omni Ophthalmic Management Consultants, LLC is a healthcare services company that provides management and support services to ophthalmology and eye-care practices. OMNI OPHTHALMIC: Crescent Capital Marks $312,000 1L Loan at 64% Off ------------------------------------------------------------------- Crescent Capital BDC has marked its $312,000 loan extended to Omni Ophthalmic Management Consultants, LLC to market at $113,000 or 36% of the outstanding amount, according to Crescent Capital BDC's 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC is a participant in a Senior Secured First Lien Term loan extended to Omni Ophthalmic Management Consultants, LLC. The 1L Loan is on non-accrual status. The 1L Loan matures on January 2026. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About Omni Ophthalmic Management Consultants, LLC Omni Ophthalmic Management Consultants, LLC is a healthcare services company that provides management and support services to ophthalmology and eye-care practices. OMNI OPHTHALMIC: Crescent Capital Marks $7MM 1L Loan at 64% Off --------------------------------------------------------------- Crescent Capital BDC has marked its $7,014,000 loan extended to Omni Ophthalmic Management Consultants, LLC to market at $2,545,000 or 36% of the outstanding amount, according to Crescent Capital BDC's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC is a participant in a Senior Secured First Lien Term loan extended to Omni Ophthalmic Management Consultants, LLC. The 1L Loan is on non-accrual status. The 1L Loan matures on January 2026. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About OMNI OPHTHALMIC Omni Ophthalmic Management Consultants, LLC is a healthcare services company that provides management and support services to ophthalmology and eye-care practices. OMNI OPHTHALMIC: Crescent Capital Marks $921,000 1L Loan at 64% Off ------------------------------------------------------------------- Crescent Capital BDC has marked its $921,000 loan extended to Omni Ophthalmic Management Consultants, LLC to market at $334,000 or 36% of the outstanding amount, according to Crescent Capital BDC's 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC is a participant in a Senior Secured First Lien Term loan extended to Omni Ophthalmic Management Consultants, LLC. The 1L Loan is on non-accrual status. The 1L Loan matures on January 2026. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About Omni Ophthalmic Management Consultants, LLC Omni Ophthalmic Management Consultants, LLC is a healthcare services company that provides management and support services to ophthalmology and eye-care practices. ONYX SWNG: UCC Public Sale Scheduled for April 23, 2026 ------------------------------------------------------- Newmark on behalf of TCM CRE REIT LLC, a Delaware limited liability company (the "Secured Party"), will offer for sale at public auction on April 23, 2026 at 3:30 p.m. EDT in connection with a Uniform Commercial Code sale, 100% of the limited liability company membership interests (the "Interests") in and to ONYX SWNG TIC 1 LLC, a Delaware limited liability company, and ONYX SWING TIC 2 LLC a Delaware limited liability company (individually and collectively, the Mortgage Borrower) which Mortgage Borrower is the sole fee simple title owner of the property located at 10300 S. Wilcrest Drive in Houston, Texas (the "Property"). The Interests are owned by ONYX SWING LLC, a Delaware limited liability company, having its principal place of business at 7600 Renwick Drive, Houston, Texas (the "Debtor"). The sale will be conducted virtually via online video conference and/or, at Secured Party sole option, in-person in the offices of Sills, Cummis & Gross, P.C., 101 Park Avenue, 28th Floor, New York, New York 10178. The URL address and password for the online video conference will be provided to all confirmed participants that have properly registered pursuant to the Terms of Sale. The Debtor has granted to the Secured Party a first priority lien on and security interest in the Interests pursuant to that certain Pledge and Security Agreement dated as of December 1, 2021. The Secured Party is offering the Interests for sale in connection with the foreclosure on the pledge of such interests. There are specific requirements for any potential successful bidder in connection with obtaining information and bidding on the Interests, including but not limited to, (1) that each bidder must comply with the restrictions applicable to the sale of the Interests under the Intercreditor Agreement dated as of December 1, 2021 by and between the Secured Party and the holder of the mortgage encumbering the Property (the "Intercreditor Agreement"), including that such bidder is a "Qualified Transferee" (as defined in the Intercreditor Agreement), or has obtained the consent of the holder of the Senior Loan or will repay the Senior Loan prior to the sale of the Interests, (2) that each bidder must deliver such documents and pay such amounts as required by the Intercreditor Agreement and the applicable governing documents relating to the Interests, and (3) that the successful bidder shall pay no later than twenty-four (24) hours after the conclusion of scheduled public auction, a non-refundable deposit in an amount equal to twenty percent (20%) of the bid amount pursuant to wire instructions provided by Secured Party or Newmark. Parties who do not satisfy to bid in accordance with the terms hereof and the Terms of Sale will forfeit their opportunity to register and may be banned from bidding. The Interests are being offered as a single lot, "as-is, where-is", with no express or implied warranties representations, statements or conditions of any kind made by the Secured Party or any person acting for or on behalf of the Secured Party, without any recourse whatsoever to the Secured Party or any other person acting for or on behalf of the Secured Party and each bidder must make own inquiry regarding the Interests. The winning bidder shall be responsible for the payment of all transfer taxes, stamp duties and similar taxes incurred in connection with the purchase of the Interests. The Secured Party reserves the right to credit bid, set a minimum reserve price, reject all bids (including without limitation any bid that it deems to have been made by a bidder that is unable to satisfy the requirements imposed by the Secured Party upon prospective bidders in connection with the sale or to whom in the Secured Party's sole Judgment a sale may not lawfully be made) and terminate or adjourn the sale to another time, without further notice. The Secured Party further reserves the right to restrict prospective bidders to those who will represent that they are purchasing the Interests for their own account for investment not with a view to the distribution or resale of such interests, to verify that each certificate for the Interests to be sold bears a legend substantially to the effect that such Interests have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), and may not be disposed of in violation of the provisions of the Securities Act and to impose such other limitations or conditions in connection with the sale of the Interests as the Secured Party deems necessary or advisable in order to comply with the Securities Act or any other applicable law. All bids (other than credit bids of the Secured Party) must be for cash, and the successful bidder must be prepared to deliver the entire balance payable in immediately available good funds within five (5) business days after the conclusion of the auction and otherwise comply with the bidding requirements. Further information concerning the Interests, the requirements for obtaining the information and bidding on the Interests and the Terms of Sale can be found at https://tinyurl.com/2kf4dz65. Stephen Schwalb +1 469-467-2064; Stephen.schwalb@nmrk.com PAPA JOHN'S: S&P Alters Outlook to Negative, Affirms 'BB-' ICR -------------------------------------------------------------- S&P Global Ratings revised its outlook to negative from stable and affirmed the 'BB-' long-term issuer credit rating on Papa John's International Inc. The negative outlook reflects elevated risk to S&P's base case over the next 12 months and the potential for adjusted debt to EBITDA to remain above 4x, likely from worse-than-expected performance of marketing and product innovation and elevated expenses to further support the turnaround. Papa John's 2025 credit metrics came in below expectations. S&P now expects results to weaken further in 2026 due to restaurant closures, anticipated low-single-digit percent comparable sales declines, and elevated restructuring expenses. At the same time, Papa John's continues to invest in marketing and executing corporate-level and supply-chain cost-savings initiatives, and S&P thinks results will improve in the back half of 2026 and into 2027. S&P said, "We now forecast S&P Global Ratings-adjusted leverage of about 4.5x with S&P Global Ratings-adjusted free operating cash flow (FOCF) to debt of 6%-6.5% in 2026, which is elevated relative to our current downside trigger of leverage sustained above 4x. In 2027, we expect leverage to improve to high-3x in 2027, but risks could arise from a challenging consumer environment and intensely competitive pizza subsector. "Leverage may remain elevated beyond 2026. We expect leverage to be around 4.5x in 2026, reflecting comparable sales declines, store closures within its North American system, and elevated costs related to marketing and restructuring. However, we believe most of the costs related to supplemental marketing and restructuring fees will not be carried into 2027, improving margins and helping deleverage to high-3x. We also expect S&P Global Ratings-adjusted EBITDA interest coverage of 4.5x and 5.2x in 2026 and 2027 respectively, consistent with the 'BB-' rating. "We also expect traffic to stabilize somewhat, with 2026 representing a trough year and a return to flat to slightly positive overall comparable sales growth in 2027." This modest improvement will stem from more product innovation and multiple years of elevated advertising density to reinvigorate the brand and value perception. That said, Papa John's may find difficulty stabilizing guest traffic and maintaining market share if competitors--specifically Domino's with its much broader scale--can offer consistently better value and afford to advertise more aggressively. This dynamic could mitigate Papa John's efforts to drive higher visit frequency, likely leading to additional investments to maintain franchisee profitability and build brand reputation, including supplemental advertising spending. If Papa John's is unable to stabilize visit volumes or costs related to its rebuild expenses persist beyond our current expectations leverage and credit metrics could remain pressured beyond 2026. S&P also thinks if operating results are below expectations, it may be more challenging to refranchise restaurants, and therefore Papa John's would have less ability to repay debt and reduce leverage. S&P said, "We expect store closures and refranchising to drive corporate revenue declines over the next two years, albeit with stabilizing comparable sales. Papa John's has announced its plan to close 300 locations in North America, representing roughly 8% of its North American system. We expect the vast majority of these closures will be franchisee-owned and represent locations with low average unit volumes (AUV) compared to the broader system (roughly averaging $600,000 vs North American franchisee-system average of about $1.1 million in 2025). "At the same time, we anticipate a challenging operating environment in 2026 driven by competitive activity as quick-service restaurant players rely on value messaging and discounts to attract customers. This is amid weaker consumer sentiment as macro challenges and inflationary pressures lower visit frequency, reducing the size of the available market. While we expect efforts around its loyalty program and continued solid performance in its international segment to partially offset these headings, we expect Papa John's revenue to come down 4%-5% in 2026. "Roughly two thirds of the announced store closures will occur in 2026, with remainder in 2027. We also expect continued refranchising activity, as Papa John's works toward reaching mid-single digit percent company-owned locations, will also burden overall top-line growth. However, we anticipate Papa John's will focus on new customer growth, its loyalty program, and marketing efforts, supporting a return to positive comparable sales in 2027 of flat to slightly positive." S&P Global Ratings-adjusted EBITDA margins of high-11% will be largely flat in 2026 before improving to around 13% in 2027. Through 2025, Papa John's invested about $25 million in supplemental marketing and franchisee subsidies, and it will largely do so again in 2026. The investment is meant to support its current menu innovation pipeline while maintaining franchisee profitability. This cost should fall off in 2027 as its franchisees and company-owned locations opt-in to marketing co-ops, helping to fund a unified marketing program with less aid from the corporate level. While S&P expects the marketing co-op to impact company-owned margins initially, identified cost savings around its supply chain and procurement should help to offset this impact. S&P said, "Secondly, while we expect the company to benefit from cost savings in its corporate cost structure, we anticipate related restructuring costs around severance and third-party consultant fees will offset the benefit in 2026. That said, we anticipate the majority of the costs associated with these savings will be accrued in 2026, leading to margin accretion in 2027. As a result, we believe S&P Global Ratings-adjusted margins will remain under pressure in 2026 before improving to around 13% in 2027. "The negative outlook reflects elevated risk to our base case over the next 12 months and the potential for adjusted debt to EBITDA to remain above 4x. We believe leverage could remain high if costs remain elevated beyond 2026 or Papa John's operating environment is stressed for an extended period, limiting top-line growth and weakening profitability at franchisees and company-owned locations. "We could lower our rating on Papa John's if S&P Global Ratings-adjusted leverage sustains above 4x or S&P Global Ratings-adjusted FOCF to debt sustains below 10%." This could occur if: -- S&P no longer expect profitability to improve in 2027; -- The company is unable to improve comparable sales growth; or -- Its capital allocation strategy increases reported balance sheet debt. S&P could revise the outlook on Papa John's to stable if it expects it to maintain leverage below 4.0x and S&P expects the company to improve cash flow and sustain S&P Global Ratings-adjusted FOCF to debt above 10%. This could occur if: -- The company improves margins at least in line with our base-case while also stabilizing guest traffic, leading to comparable sales growth; and -- Its financial policy supports and maintains lower leverage. PAVO FRESH: Michael Markham Named Subchapter V Trustee ------------------------------------------------------ The Acting U.S. Trustee for Region 21 appointed Michael Markham, Esq., as Subchapter V trustee for Pavo Fresh, LLC. Mr. Markham, a partner at Johnson Pope Bokor Ruppel & Burns, LLP, will be paid an hourly fee of $400 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Markham declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Michael C. Markham, Esq. Johnson Pope Bokor Ruppel & Burns, LLP 401 E. Jackson Street, Suite 3100 Tampa, FL 33602 Phone: (727) 480-5118 Mikem@jpfirm.com About Pavo Fresh LLC Pavo Fresh, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-01375) on February 23, 2026, with $100,001 to $500,000 in both assets and liabilities. PHARMA + VET: Seeks Approval to Hire Elite Find as Accountant ------------------------------------------------------------- Pharma + Vet Inc., LLC seeks approval from the U.S. Bankruptcy Court for the District of Puerto Rico to hire Elite Find, LLC as accountant. The firm will render these services: (a) close out the Debtor's books as of the date of the filing of this case, and open new books as of the next day thereafter; (b) establish a new bookkeeping system to replace the system heretofore used by the Debtor; (c) prepare the periodic statements of the Debtor operations as required by the rules of this court; (d) prepare and file the Debtor's state and federal tax return for the fiscal year which ended in the semester prior to the date of the filing of this case; (e) prepare general ledger and disbursements register; (f) reconcile the account; (g) prepare certified interim financial statements as needed; (h) prepare annual financial statements and returns; (i) tax and management counseling; and (j) represent in tax investigations. Manuel Villapol, CPA, the primary accountant in this representation, will be billed at his hourly rate of $200. Mr. Villapol 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: Manuel Villapol, CPA Elite Find, LLC Sevilla Biltmore E39 Guaynabo, PR 00969 Telephone: (787) 944-4741 Email: mvillapol21@gmail.com About Pharma + Vet Inc. LLC Pharma + Vet Inc., LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.P.R. Case No. 26-00687) on February 20, 2026, with $50,001 to $100,000 in assets and $100,001 to $500,000 in liabilities. Juan Carlos Bigas Valedon, Esq., at Juan C Bigas Law Office represents the Debtor as bankruptcy counsel. PHARMA + VET: Seeks to Hire Juan C Bigas Law Office as Counsel -------------------------------------------------------------- Pharma + Vet Inc., LLC seeks approval from the U.S. Bankruptcy Court for the District of Puerto Rico to hire Juan C Bigas Law Office to handle its Chapter 11 case. Juan C Bigas Law Office received a retainer in the amount of $15,000, against which the firm will bill on the basis of $350 per hour. In addition, the firm will seek reimbursement for work-related expenses. As disclosed in court filings, Juan C Bigas Law Office is a "disinterested person" pursuant to Section 101(14) of the Bankruptcy Code. The firm can be reached through: Juan Carlos Bigas Valedon, Esq. Juan C Bigas Law Office 515 Ferrocarril Urb. Santa Maria Ponce, PR 00717 Phone: (787) 259-1000 Email: cortequiebra@yahoo.com citas@preguntalegalpr.com About Pharma + Vet Inc. LLC Pharma + Vet Inc., LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.P.R. Case No. 26-00687) on February 20, 2026, with $50,001 to $100,000 in assets and $100,001 to $500,000 in liabilities. Juan Carlos Bigas Valedon, Esq., at Juan C Bigas Law Office represents the Debtor as bankruptcy counsel. PIC ESTATE: Case Summary & 20 Largest Unsecured Creditors --------------------------------------------------------- Debtor: PIC Estate LLC 13151 Emily Road, Suite 200 Dallas TX 75240 Business Description: PIC Estate LLC owns and manages multiple parcels of land ranging from approximately 6 to 126 acres, primarily located along County Road 490 and US 380 near Princeton and Lavon Lake, Texas, and holds these properties as its principal real estate assets. Chapter 11 Petition Date: March 2, 2026 Court: United States Bankruptcy Court Eastern District of Texas Case No.: 26-40725 Debtor's Counsel: Howard Marc Spector, Esq. SPECTOR & COX, PLLC 12770 Coit Rd Suite 850 Dallas TX 75251 Tel: (214) 365-5377 E-mail: hspector@spectorcox.com Estimated Assets: $100 million to $500 million Estimated Liabilities: $10 million to $50 million The petition was signed by Md Tauhid Choudhury as managing member. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/UV3WFXQ/PIC_Estate_LLC__txebke-26-40725__0001.0.pdf?mcid=tGE4TAMA List of Debtor's 20 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount 1. Sayeed Family Charitable Trust $695,000 5528 Palisades Dr Plano, TX 75098 2. Nafiz Hossain $674,400 813 Lotus Dr. Richardson, TX 75080 3. Talha Hashmi $640,000 1013 Rockefeller Ln Allen, TX 75002 4. Mohammad Wasif Hussain $600,000 5433 Caine Rd Richardson, TX 75082 5. Inzomed Solutions $600,000 4566 Nellore St Plano, TX 75074 6. Dr Mohammed A. Mohiuddin $600,000 1313 Bravura Dr Plano, TX 75074 7. Moana Consulting $508,550 525 Water Oak Dr. Garland, TX 75044 8. Asturant Circle LLC $425,000 13151 Emily Rd Suite 201 Dallas, TX 75240 9. LK 401K Trust $400,000 1309 Bradshaw Dr Plano, TX 75074 10. Care MD $350,000 1219 East 63rd Avenue Vancouver, British Columbia 11. SLK STARS LLC $340,914 4566 Nellore St Plano, TX 75074 12. Muhammad Jawaid Isa $307,460 and Farkhunda Isa 1012 Discovery St. Plano, TX 75094 13. Mehdi and Mehdi LLC $300,000 Tauhid 5308 Saint Croix Ct Richardson, TX 75082 14. Heal 360 $300,000 1313 Bravura Dr Plano, TX 75074 15. AZKA Capital LLC $250,000 1013 Rockefeller Ln Allen, TX 75002 16. Faisam Family Trust $240,000 2908 Greenfield Ct Richardson, TX 75082 17. Mariam Khan $228,930 2425 Dearborn Lane Frisco, TX 75036 18. Dr. Amir Mohiuddin $215,000 1313 Bravura Dr Plano, TX 75074 19. ZIA HAQ $200,000 1009 Winfield ct Southlake, TX 76092 20. Maruf Mohammad & Farhana Sharmeen $200,000 308 Meadowhaven Way Milpitas, CA 95035 PLASMA BUYER: Crescent Capital Marks $282,000 1L Loan at 22% Off ---------------------------------------------------------------- Crescent Capital BDC has marked its $282,000 loan extended to Plasma Buyer LLC (PathGroup) to market at $221,000 or 78% of the outstanding amount, according to Crescent Capital's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC is a participant in an Unitranche First Lien Delayed Draw Term Loan extended to Plasma Buyer LLC (PathGroup). The 1L Loan accrues interest at a rate of 9.93% per annum. The 1L Loan matures on May 2029. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: The Corporate Secretary Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About Plasma Buyer LLC Plasma Buyer LLC (PathGroup) is a diagnostic laboratory and pathology services company that provides testing and clinical laboratory services to healthcare providers and patients. PLASMA BUYER: Crescent Capital Marks $7.4MM 1L Loan at 22% Off -------------------------------------------------------------- Crescent Capital BDC has marked its $7,456,000 loan extended to Plasma Buyer LLC (PathGroup) to market at $5,828,000 or 78% of the outstanding amount, according to Crescent Capital's 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC is a participant in an Unitranche First Lien Term Loa nextended to Plasma Buyer LLC (PathGroup). The 1L Loan accrues interest at a rate of 9.12% per annum. The 1L Loan matures on May 2029. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About Plasma Buyer LLC Plasma Buyer LLC (PathGroup) is a diagnostic laboratory and pathology services company that provides testing and clinical laboratory services to healthcare providers and patients. PLASMA BUYER: Crescent Capital Marks $830,000 1L Loan at 22% Off ---------------------------------------------------------------- Crescent Capital BDC has marked its $830,000 loan extended to Plasma Buyer LLC (PathGroup) to market at $648,000 or 78% of the outstanding amount, according to Crescent Capital's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC is a participant in an Unitranche First Lien Revolver Loan extended to Plasma Buyer LLC (PathGroup). The 1L Loan accrues interest at a rate of 9.42% per annum. The 1L Loan matures on May 2029. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About Plasma Buyer LLC Plasma Buyer LLC (PathGroup) is a diagnostic laboratory and pathology services company that provides testing and clinical laboratory services to healthcare providers and patients. PLATINUM HEIGHTS: Gets Final OK to Use Cash Collateral ------------------------------------------------------ Platinum Heights, LP received final approval from the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, to use cash collateral. Under the final order, the Debtor is authorized to use cash collateral to fund operations in accordance with its budget, subject to a weekly variance of up to 15%. As adequate protection, secured lender B1 Bank will be granted protection against any decline in collateral value, including replacement liens on post-petition property that constitutes collateral. The lender agreed to temporarily forgo payments required under existing loan documents through April 30. The order further provides that its terms are binding on all parties in interest and remain effective even if the Debtor's Chapter 11 case is converted or dismissed, or a bankruptcy plan is confirmed. A carveout is included for court-approved professionals involved in a potential sale process. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/9pzvH from PacerMonitor.com. About Platinum Heights LP Platinum Heights, LP filed Chapter 11 petition (Bankr. S.D. Texas Case No. 25-90012) on February 20, 2025, listing between $50 million and $100 million in both assets and liabilities. Judge Alfredo R. Perez oversees the case. Omar Jesus Alaniz, Esq., at Reed Smith, LLP is the Debtor's legal counsel. B1 Bank, as secured lender, is represented by: Michael P. Menton, Esq. Danika L. Lopez, Esq. SettlePou 3333 Lee Parkway, Eighth Floor Dallas, TX 75219 (214) 520-3300 (214) 526-4145 (Facsimile) mmenton@settlepou.com dlopez@settlepou.com POOLE FUNERAL: Updates Unsecured Claims Pay Details --------------------------------------------------- Poole Funeral Home Real Estate, LLC and its affiliates submitted a First Amended Disclosure Statement regarding Joint Chapter 11 Plan of Liquidation dated February 25, 2026. The primary purpose of the Plan is to effectuate the completion of the orderly wind down of the Debtor's affairs. Pursuant to the Plan, the Debtor contemplates the Distribution of (i) the proceeds from the Sale, (ii) Cash, and (iii) other Assets of the Estate for the benefit of holders of Eligible Claims pursuant to the Plan and the Bankruptcy Code's priority distribution requirements. Under the Plan, Claims against, and Interests in, the Debtor are divided into four Classes. Certain Claims, including Administrative Claims and Priority Tax Claims, are not classified and, if not paid prior, will receive payment in full in Cash on the later of the Effective Date or the first Business Day after the date that is thirty days after the date on which such Administrative Claim becomes an Allowed Administrative Claim, or as otherwise agreed to by the holder of such Claim. Class 4 consists of General Unsecured Claims. The allowed unsecured claims total $439,537.89. General Unsecured Claims consist of any Claim that is not an Administrative Claim, a Professional Fee Claim, or a Priority Tax Claim. Holders of Claims in Class 4 are Impaired. Each holder of a General Unsecured Claim is not conclusively presumed to accept the Plan under section 1126(f) of the Bankruptcy Code and is therefore entitled to vote to accept or reject the Plan in its capacity as a holder of such Claim. Provided that the holder of a Class 4 Claim has not yet been paid, on the later of (i) the Effective Date and (ii) for Claims in Class 4 that were Disputed Claims on the Effective Date and have thereafter become Allowed General Unsecured Claims, immediately following the Distribution Date subsequent to the date upon which such Claims became Allowed General Unsecured Claims, or as soon thereafter as is practicable, holders of each such Allowed General Unsecured Claim shall receive (a) a Pro Rata share of the General Unsecured Creditor Interests and/or Cash in an amount not to exceed the amount of such Allowed General Unsecured Claim, or (b) such other treatment as may be agreed upon by the Plan Administrator and the holder of such Allowed General Unsecured Claim. In short, to the extent there are additional funds available for distribution after distributing funds to Class 1, those funds shall be distributed to the other classes of claims. The Plan shall be funded from the Sale Proceeds, Cash, and any other Assets of the Estate, except as expressly set forth in the Plan. The Debtor proposes that a qualified professional shall be appointed as the Plan Administrator. The Plan Administrator shall be deemed the Estate's sole representative in accordance with section 1123 of the Bankruptcy Code and shall have all powers, authority, and responsibilities specified in the Plan, including, without limitation, the powers of a trustee under sections 704 and 1106 of the Bankruptcy Code. A full-text copy of the First Amended Disclosure Statement dated February 25, 2026 is available at https://urlcurt.com/u?l=08lJM6 from PacerMonitor.com at no charge. Counsel to the Debtors: Roy Michael Roman, Esq. RMR Legal PLLC 70 N. Ocoee Street Cleveland, TN 37311 Tel: (423) 528-8484 E-mail: Roymichael@rmrlegal.com About Poole Funeral Home Real Estate Poole Funeral Home Real Estate, LLC operates Poole Funeral Homes at Woodstock, a locally owned funeral facility in North Georgia. The Company offers burial, cremation, veteran, green burial, and personalization services, along with caskets and urns. It emphasizes community-focused service, positioning itself as an alternative to corporately owned funeral providers. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Tenn. Case No. 25-11197) on May 12, 2025. In the petition signed by Brian K. Poole, CEO, the Debtor disclosed up to $10 million in assets and up to $50 million in liabilities. Judge Nicholas W. Whittenburg oversees the case. Roy Michael Roman, at RMR Legal PLLC, is the Debtor's bankruptcy counsel. POWER LANE: Voluntary Chapter 11 Case Summary --------------------------------------------- Debtor: Power Lane Logistics Distribution & Warehousing, Inc. d/b/a Power Lane Logistics, Inc. 1852 West 11th Street Suite 277 Tracy, CA 95376 Business Description: Power Lane Logistics Distribution & Warehousing, Inc., doing business as Power Lane Logistics, Inc., provides freight transportation, logistics, warehousing, and distribution services. The company operates from Tracy, California, and operates in the transportation and logistics services industry. Chapter 11 Petition Date: March 2, 2026 Court: United States Bankruptcy Court Eastern District of California Case No.: 26-21131 Judge: Hon. Christopher M Klein Debtor's Counsel: David C. Johnston, Esq. DAVID C. JOHNSTON 1600 G Street, Suite 102 Modesto, CA 95354 Tel: (209) 579-1150 Email: david@johnstonbusinesslaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Nilton Ayala as president. The Debtor failed to attach a list of its 20 largest unsecured creditors to the petition. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/UHGBJVQ/Power_Lane_Logistics_Distribution__caebke-26-21131__0001.0.pdf?mcid=tGE4TAMA PPV INTERMEDIATE: Crescent Marks $28,000 1L Loan at 18% Off ----------------------------------------------------------- Crescent Capital BDC, Inc. has marked its $28,000 loan extended to PPV Intermediate Holdings LLC (Vetcor) to market at $23,000 or 82% of the outstanding amount, according to Crescent Capital's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC, Inc. is a participant in a Unitranche First Lien Revolver loan extended to PPV Intermediate Holdings LLC (Vetcor). The 1L Loan accrues interest at a rate of S + 575 (75 Floor), 9.63% per annum. The 1L Loan matures on August 2029. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About PPV Intermediate Holdings LLC PPV Intermediate Holdings LLC, doing business as Vetcor, is a veterinary services platform company that acquires and operates veterinary practices across multiple regions. PROSPECT MEDICAL: Court Issues Patient Record Disposal Order ------------------------------------------------------------ IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF TEXAS DALLAS DIVISION In re: PROSPECT MEDICAL HOLDINGS, INC., et al., Chapter 11 Case No. 25-80002 (SGJ) (Jointly Administered) NOTICE OF DISPOSAL OF PATIENT RECORDS AT THE CLOSED PENNSYLVANIA FACILITIES Beginning on January 11, 2025, the debtors and debtors-in-possession (the "Debtors"), filed voluntary petitions for relief pursuant to chapter 11 of Title 11 of the United States Code, 11 U.S.C. Secs. 101-1532 (the "Bankruptcy Code") in the United States Bankruptcy Court for the Northern District of Texas (the "Court"). On April 23, 2025, the Court entered the Order (I) Approving the Closure of Certain of the Pennsylvania Hospitals; (II) Approving the Pennsylvania Asset Sale Procedures; and (III) Granting Related Relief (the "Closure/Sale Order"), whereby the Court, among other things, approved the closure of the Debtors’ Pennsylvania hospitals (the "Closing Hospitals") on an expedited basis. By May 2, 2025, all Closing Hospitals except the ASC/Imaging Sites had ceased operations (such facilities, the "Closed Pennsylvania Facilities"). Specifically, the Closed Pennsylvania Facilities are: 1) Crozer-Chester Medical Center, located at 1 Medical Center Blvd, Upland, PA 19013; 2) Springfield Hospital, located at 190 W. Sproul Road, Springfield, PA 19064; 3) Taylor Hospital, located at 175 E. Chester Pike, Ridley Park, PA 19078; 4) Delaware County Memorial Hospital, located at 501 N. Lansdowne Ave, Drexel Hill, PA 19026; and 5) Crozer Health Community Campus, located at 301 W. 15th St, Chester, PA 19013. On February 23, 2026, the Court entered the Order (I) Authorizing the Disposal of Certain Burdensome Patient Records at the Closed Pennsylvania Facilities and (II) Granting Related Relief (the Patient Records Disposal Order"), whereby the Court, among other things, authorized the Debtors to dispose of certain patient records associated with the Closed Pennsylvania Facilities (such records, the "Patient Records") in the manner set forth in section 351 of the Bankruptcy Code and rule 6011 of the Federal Rules of Bankruptcy Procedure. Pursuant to the Patient Records Disposal Order, the Debtors will destroy the Patient Records if they are not claimed prior to March 2, 2027 using the methods authorized under section 351 of the Bankruptcy Code. Patient Records may be claimed at https://crozer.morganrecordsmanagement.com/requestmy-crozer-records.html. Patient records may be obtained free of charge if they are claimed prior to March 2, 2027. For additional information regarding the Patient Records, please contact Morgan Records Management, LLC, 8 State Street, Nashua, NH 03063; Email: Medical@MorganRecords.com; Telephone: (833) 888-0061. To the extent that any Patient Records are not claimed prior to March 2, 2027, the Debtors will request in a writing mailed by certified mail (each, a "Request") to (i) the Pennsylvania Department of Health ("PDH") to accept deposit of the Patient Records constituting protected health information and (ii) any other appropriate Federal agency that it takes deposit of any Patient Records. Upon the earlier of (x) notification from the PDH or any other appropriate Federal agency declining to accept deposit of any Patient Records or (y) 30 days after the mailing of the Request, the Debtors are authorized, pursuant to the Patient Records Disposal Order, to dispose of or destroy any and all Patient Records in their possession that have not been transferred to the PDH or any other appropriate Federal agency. Copies of the foregoing pleadings may be obtained (i) at the website established by the Debtors’ noticing agent, Omni Agent Solutions, Inc., at https://omniagentsolutions.com/Prospect, (ii) from the Court’s website http://www.txnb.uscourts.govvia ECF/Pacer, or (iii) upon request to the undersigned. About Prospect Medical Holdings Prospect Medical Holdings owns Roger Williams Medical Center, Our Lady of Fatima Hospital, and several other healthcare facilities. Prospect Medical and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Lead Case No. 25-80002) on Jan. 11, 2025. In the petition filed by Paul Rundell, as chief restructuring officer, Prospect listed assets and liabilities between $1 billion and $10 billion each. Bankruptcy Judge Stacey G. Jernigan handles the case. The Debtors' general bankruptcy counsel is Sidley Austin LLP, led by Thomas R. Califano, and Rakhee V. Patel, in Dallas, Texas; and William E. Curtin, Patrick Venter, and Anne G. Wallice, in New York. Alvarez & Marsal North America, LLC, is the Debtors' financial advisor; Houlihan Lokey, Inc., is the investment banker; and Omni Agent Solutions, Inc., is the claims, noticing and solicitation agent. RAD DIVERSIFIED: Voluntary Chapter 11 Case Summary -------------------------------------------------- Lead Debtor: RAD Diversified REIT, Inc. 11418 US-19 N. Port Richey, FL 34668 Business Description: The Debtors are a group of entities engaged in acquiring, managing, renovating, repositioning, and operating real estate, primarily single-family residential properties and vacant lots across Florida, Pennsylvania, Texas, and New Jersey, with certain affiliates holding other types of real estate. RAD Diversified OZ Fund, LP, a Delaware limited partnership, focuses on investments in Qualified Opportunity Zone properties, while RAD Diversified REIT, Inc., a Maryland corporation, is structured to qualify as a real estate investment trust under U.S. tax law. Chapter 11 Petition Date: March 1, 2026 Court: United States Bankruptcy Court Middle District of Florida Five affiliates that concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code: Debtor Case No. ------ -------- RAD Diversified REIT, Inc. (Lead Debtor) 26-01636 RAD Diversified OZ Fund, LP 26-01637 DHI Fund, LLC 26-01638 DHI Holdings, LP 26-01639 DDH Fund, LLC FKA DDH Fund, LP 26-01640 Judge: Hon. Catherine Peek Mcewen Debtors' General Bankruptcy Counsel: Joseph Pack, Esq. Jessey J. Krehl, Esq. PACK LAW 51 Northeast 24th St., Ste. 108 Miami, FL 33137 Tel: (305) 916-4500 E-mail: joe@packlaw.com jessey@packlaw.com Debtors' Forensic Accountant, Financial Analyst and Financial Advisor: KAPILAMUKAMAL, LLP Debtors' Noticing & Claims Agent: EPIQ CORPORATE RESTRUCTURING, LLC Debtors' Operations Advisor: GGG PARTNERS, LLC Lead Debtor's Estimated Assets: $50 million to $100 million Lead Debtor's Estimated Liabilities: $50 million to $100 million The petitions were signed by Katie S. Goodman as chief restructuring officer. The petitions were filed without the Debtors' list of their 20 largest unsecured creditors. A full-text copy of the Lead Debtor's petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/2SLV2IY/RAD_Diversified_REIT_Inc__flmbke-26-01636__0001.0.pdf?mcid=tGE4TAMA RAILHEAD INC: Case Summary & Four Unsecured Creditors ----------------------------------------------------- Debtor: Railhead, Inc. 510 Spring St. Suite 270 Herndon, VA 20170 Business Description: Railhead, Inc. provides C5ISR systems research, development, testing and evaluation (RDT&E), systems integration, enterprise operations and maintenance, cyber security, and intelligence and mission support services to U.S. government and military customers. The company supports the Department of Defense, the intelligence community, federal civilian agencies, and state and local governments with command and control, communications, network operations, investigative technologies, and analytic tradecraft capabilities. Railhead, Inc. operates as a minority Small Disadvantaged Business and Veteran Owned Small Business delivering mission-focused engineering, information technology, and operational support solutions. Chapter 11 Petition Date: March 2, 2026 Court: United States Bankruptcy Court Eastern District of Virginia Case No.: 26-10508 Debtor's Counsel: Jeffery T. Martin,, Jr., Esq. MARTIN LAW GROUP PC 8065 Leesburg Pike Suite 750 Vienna, VA 22182 Tel: (703) 223-1822 Email: jeff@martinlawgroup.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Jason Butler as managing member. 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/NJXH24I/Railhead_inc__vaebke-26-10508__0001.0.pdf?mcid=tGE4TAMA RED ROCK: Hires Marcus & Millichap as Real Estate Broker -------------------------------------------------------- Red Rock Mega Storage LLC seeks approval from the U.S. Bankruptcy Court for the District of Nevada to employ Marcus & Millichap Real Estate Investment Services of Nevada, Inc. as real estate broker. The broker will market and sell the Debtor's property located at 8803 and 8805 Red Rock Road, Reno, Nevada. Marcus & Millichap will receive a total commission of 2% of the total sales price. As disclosed in the court filings, Marcus & Millichap is a "disinterested person" within the meaning of 11 U.S.C. Sec. 101(14). The broker can be reached through: Daniel Kuchugurny Marcus & Millichap Real Estate Investment Services of Nevada, Inc. 333 University Avenue, Suite 150 Sacramento, CA 95825 Direct: (916) 724-1312 About Red Rock Mega Storage Red Rock Mega Storage, LLC operates a storage facility offering a range of unit sizes, including climate-controlled spaces and enclosed units for RV and boat storage. It serves customers in Reno, Nevada, with 24/7 access and on-site amenities. Red Rock Mega Storage sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Nev. Case No. 25-50549) on June 17, 2025. In its petition, the Debtor reported between $10 million and $50 million in assets and liabilities. Judge Hilary L. Barnes oversees the case. Kevin A. Darby, Esq., at Darby Law Practice, Ltd., is the Debtor's bankruptcy counsel. Rodney Family Trust, as lender, is represented by Amy N. Tirre, Esq. at Law Offices of Amy N. Tirre, A Professional Corporation. RENDITIONS LLC: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------------- Debtor: Renditions, LLC d/b/a Mary's Tack, Feed & Pet 4860 Atlanta Highway Athens, GA 30606 Business Description: Renditions, LLC, doing business as Mary's Tack, Feed & Pet, operates a retail business in Athens, Georgia, offering horse supplies, English and Western tack, apparel, boots, pet products, livestock and wildlife feed, and related merchandise. Founded in 2001 in Bogart, Georgia, the company expanded in 2005 to a larger facility that combines a retail showroom, feed warehouse, and specialty service areas, including boot cleaning and custom orders. It is classified within the retail, equestrian, and pet supply industries. Chapter 11 Petition Date: March 2, 2026 Court: United States Bankruptcy Court Middle District of Georgia Case No.: 26-30114 Debtor's Counsel: Paul Reece Marr, Esq. PAUL REECE MARR, P.C. 6075 Barfield Road Suite 213 Sandy Springs, GA 30328-4402 Tel: (770) 984-2255 E-mail: paul.marr@marrlegal.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Amy Christina Wrenn as manager. A copy of the Debtor's list of its 20 largest unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/DCEOW5Y/Renditions_LLC__gambke-26-30114__0002.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/DEAJQVA/Renditions_LLC__gambke-26-30114__0001.0.pdf?mcid=tGE4TAMA RENEWAL REALTY: Hires Marcus & Millichap as Real Estate Broker -------------------------------------------------------------- Renewal Realty, LLC received approval from the U.S. Bankruptcy Court for the Western District of Texas to employ Marcus & Millichap Real Estate Investment Services, Inc. as its real estate broker. The broker will market and sell the Debtor's property located in Odessa, Ector County, Texas. The firm will receive a commission equal to 6% of the purchase price of the property. As disclosed in the court filings, Marcus & Millichap Real Estate Investment Services, Inc. is a "disinterested person" within the meaning of 11 U.S.C. Sec. 101(14). The firm can be reached through: Tim Speck Marcus & Millichap Real Estate Investment Services, Inc. 5001 Spring Valley Rd #1100w Dallas, TX 75244 Phone: (972) 755-5200 Email: tim.speck@marcusmillichap.com About Renewal Realty, LLC Renewal Realty, LLC sought relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Tex. Case No. 25-70171) on Oct. 7, 2025, listing up to $10 million in both assets and liabilities. Judge Shad M. Robinson oversees the case. Vela Wood Staley Young PC serves as the Debtor's legal counsel. RENEWAL REALTY: Unsecured Creditors to be Paid in Full ------------------------------------------------------ Renewal Realty, LLC filed with the U.S. Bankruptcy Court for the Western District of Texas a Disclosure Statement in support of Chapter 11 Plan of Reorganization dated February 24, 2026. The Debtor owns and operates an apartment complex, commonly known as the "Paddocks Apartments," in Odessa, Texas. The Debtor is managed by Pacifica Realty Corporation. Gregory Walden serves as president of Pacifica and makes all decisions regarding the Debtor's business. The purchase of the apartment complex was financed through a series of loans from Unify Financial Federal Credit Union n/k/a CommunityAmerica Federal Credit Union, as Lender, to the Series LLCs, as Borrowers, which are secured by properly perfected deed-of-trust liens on the Real Property and the rents and other proceeds thereof. This Bankruptcy Case was necessitated by the downturn of market conditions, which resulted in the Debtor being unable to pay the secured loan, obtain replacement financing, obtain an extension of the maturity date from Unify, or find a buyer at or before maturity. In order to protect the Debtor's equity in the Real Property and prevent Unify from completing a scheduled non judicial foreclosure, the Debtor initiated the Bankruptcy Case. Unify asserts a Secured Claim in the total amount of $4,101,500.00. Unsecured creditors have claims totaling $181,025.65, of which $149,604.58 is comprised of the Insider Claims of the Members for pre-petition loans to the Debtor and $14,891.80 of which constitutes the disputed, unliquidated Claim of Sunridge. Excluding the Members and Sunridge, nearly all of the other unsecured creditors have already been paid in full pursuant to the Bankruptcy Court's order authorizing payment to critical vendors for pre-petition debts entered on January 4, 2026. The Debtor filed the Plan on February 4, 2026 to reorganize and restructure its debts. In summary, the holder of Unify's Allowed Secured Claim will take substantially all of the Debtor's property, other than its Cash or Cash equivalents, in full satisfaction of its claim. Any Allowed General Unsecured Claims that have not already been paid will be paid in Cash in full. The Debtor's Counsel will be paid in accordance with the Engagement Confirmation Agreement executed by the Debtor and the Limited Guaranty Agreement executed by the Members. Any payments required under the Plan that are not funded with property of the Estate shall be funded by the Members. Class 2 consists of Allowed General Unsecured Claims. Within five business days of the Effective Date, or, if later, within five business days of the entry of any Final Order approving such Claims, each holder of an Allowed General Unsecured Claim on such date shall be paid its Allowed Claim in full in Cash. With respect to Allowed General Unsecured Claims arising from the rejection of leases or executory contracts, the holders of such Claims shall be paid within five business days of their Claims becoming Allowed. Allowed Claims in Class 2 are unimpaired and therefore not entitled to vote to accept or reject the Plan. Class 4 consists of Allowed PrePetition Membership Interests. Each holder of a Pre-Petition Membership Interest in the Debtor shall retain its membership interest, which shall be converted to an equivalent membership interest in the Reorganized Debtor. The holders of the Allowed Claims in Class 4 are impaired and therefore entitled to vote to accept or reject the Plan. On or before the Effective Date, the Members shall fund the General Unsecured Claim Account in an amount sufficient to pay all Allowed General Unsecured Claims in full. The funds in the General Unsecured Claim Account shall be held in trust for the benefit of the holders Allowed General Unsecured Claims, and shall be used by the Reorganized Debtor to pay Allowed General Unsecured Claims in accordance with this Plan. The Plan contemplates that all Claims of creditors will be paid in full. In the case of the Allowed Secured Claim, it will be fully satisfied through the transfer of the Real Property and the Non Cash Personal Property. All other Allowed Claims will be paid in full through the Member Plan Payments. Accordingly, confirmation is not likely to be followed by the liquidation or the need for further financial reorganization of the Reorganized Debtor. A full-text copy of the Disclosure Statement dated February 24, 2026 is available at https://urlcurt.com/u?l=ZD04IH from PacerMonitor.com at no charge. Counsel to the Debtor: Cleveland R. Burke, Esq. Vela Wood Staley Young P.C. 1211 E. 4th Street, Suite 210 Austin, TX 78702 Telephone: (512) 813-7300 Email: cburke@velawood.com About Renewal Realty LLC Renewal Realty, LLC, owns and operates an apartment complex, commonly known as the "Paddocks Apartments," in Odessa, Texas. The Debtor sought relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Tex. Case No. 25-70171) on Oct. 7, 2025, listing up to $10 million in both assets and liabilities. Judge Shad M. Robinson oversees the case. Vela Wood Staley Young PC serves as the Debtor's legal counsel. RND PROPERTIES: C. Jerome Teel Named Subchapter V Trustee --------------------------------------------------------- The Acting U.S. Trustee for Region 8 appointed C. Jerome Teel, Jr., Esq. at Teel & Gay, PLC as Subchapter V trustee for RND Properties, LLC. Mr. Teel will be paid an hourly fee of $450 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Teel declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: B. Jerome Teel, Jr. Teel & Gay, PLC 79 Stonebridge Blvd., Suite B Jackson, TN 38305 Phone: (731) 424-3315 Email: Jerome@tennesseefirm.com About RND Properties LLC RND Properties, LLC's primary asset consists of commercial properties located at 1532 Bonnie Lane, 0 Bonnie Lane, 1536 Bonnie Lane, and 1831 Getwell Road in Memphis/Cordova, Tennessee. RND filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. W.D. Tenn. Case No. 26-21006) on February 23, 2026, with $1 million to $10 million in both assets and liabilities. Robert Mahoney, managing member, signed the petition. Judge Jennie D. Latta presides over the case. Toni Campbell Parker, Esq., at the Law Firm of Toni Campbell Parker represents the Debtor as bankruptcy counsel. ROLLIN' VETS: Hires Tran Singh LLP as Bankruptcy Counsel -------------------------------------------------------- Rollin' Vets Group Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire Tran Singh LLP as counsel. The firm's services include: a. analyzing of the financial situation, and rendering advice and assistance to the Debtor; b. advising the Debtor with respect to its rights, duties, and powers as a debtor in this case; c. representing the Debtor at all hearings and other proceedings; d. preparing and filing of all appropriate petitions, schedules of assets and liabilities, statements of affairs, answers, motions and other legal papers as necessary to further the Debtor's interests and objectives; e. representing of the Debtor at the meeting of creditors and such other services as may be required during the course of the bankruptcy proceedings; f. 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; g. preparing and filing of a Disclosure Statement and Chapter 11 Plan of Reorganization; h. assisting the Debtor in analyzing the claims of the creditors and in negotiating with such creditors; and i. assisting the Debtor in any matters relating to or arising out of the captioned case. The firm will be paid at these rates: Susan Tran Adams $550 per hour Brendon Singh $550 per hour Marissa Ellison $325 per hour The firm received a pre-petition retainer in the amount of $25,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Susan Tran Adams, Esq., a partner at Tran Singh 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: Susan Tran Adams, Esq. Tran Singh, LLP 2502 La Branch St Houston, TX 77004 Tel: (832) 975-7300 About Rollin' Vets Group Inc. Rollin' Vets Group, Inc. operates a mobile veterinary clinic providing full-service medical care to pets in the greater Houston area, including West Houston, since 2015. It delivers examinations, vaccinations, surgical procedures, urgent care, and at-home euthanasia through a fleet of eight mobile units equipped with advanced veterinary technology, offering services in both English and Spanish. Founded by Dr. Katie Eick, Rollin' Vets Group focuses on convenient, at-home care that accommodates busy pet owners while maintaining the health and well-being of animals in a familiar environment. Rollin' Vets Group sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 26-30401) on January 21, 2026. Its bankruptcy petition listed assets of between $1 million and $10 million and liabilities of between $100,001 and $1 million. The case is overseen by Honorable Eduardo V. Rodriguez. Rollin' Vets Group, Inc. is represented by Susan Tran Adams, Esq., at Tran Singh LLP. SCV GRAPHIC: Unsecured Creditors Will Get 10% of Claims in Plan --------------------------------------------------------------- SCV Graphic Productions, Inc. filed with the U.S. Bankruptcy Court for the Northern District of Georgia a Disclosure Statement describing Chapter 11 Plan dated February 23, 2026. The Debtor is a graphic design and production company that has operated since 2007 with locations in metropolitan Atlanta, Georgia and metropolitan Los Angeles, California. SCV specializes in designing and producing realistic graphics, sculptures, and architectural elements used to simulate real-world environments for film, television, and experiential installations. Historically, SCV primarily served the entertainment industry by creating set environments and large-scale visual production elements. The Debtor's work in the film industry has experienced recent gains, as has its expansion into other segments. SCV recently provided graphical environments for Adidas at the Super Bowl and provided similar work for the Academy Awards. While operations have stabilized, the Debtor's balance sheet continues to reflect legacy debt obligations incurred during prior growth phases. The Debtor determined that restructuring under Chapter 11 was necessary to reorganize these obligations, preserve going-concern value, and allow the business to continue operating. Over the course of this case, the Debtor has maintained its operations, filed this Plan, and seeks to move forward toward Court approval, after which it will begin repaying a portion of its debts pursuant to the terms outlined in the Plan. The distributions contemplated by the Plan shall be funded by the available Cash on hand the Debtor's Projected Disposable Income as illustrated by Exhibit A annexed hereto, as well as the sale of the Atlanta operation. Starting on the Confirmation Date, the Debtor will make monthly payments to the Disbursing Agent, who will make quarterly disbursements to creditors according to the Plan. The first quarterly disbursement will be made by the Disbursing Agent approximately 60 days after the Effective Date of the Plan. Class 15 consists of General Unsecured Creditors. The Debtor estimates, based on its schedules and proofs of claims that have been filed that there will be approximately $3,416,237.81 in Allowed General Unsecured Claims, which accounts for likely claim objections and assumes that all such objections are unopposed or sustained. The Debtor proposes to pay approximately 10% of the amount of all Allowed General Unsecured Claims, in quarterly installments, beginning on the Initial Distribution Date, of which Holders of General Unsecured Claims will receive a pro rata share based on the Allowed amount of their Claim. The amount of such distributions will be based on the Projected Available Income available for distribution (after payment of distributions to Holders of Convenience Class Claims), of which 100% will be paid to Holders of allowed Professional Claims and other Administrative Expenses until such claims are paid in full, at which time 100% of the Debtor's Projected Disposable income will be paid to Holders of General Unsecured Claims until such time that approximately 10% of the Allowed amount of such claims have been paid, subject to any variance in the Debtor's projected disposable income. Class 16 consists of Convenience Class Claims. The Debtor estimates, based on its schedules and proofs of claims that have been filed, that there will be approximately $6,400.83 in Allowed Convenience Class Claims. The Debtor proposes to pay Holders of Convenience Class Claims 100% of the Allowed amount of such claims on the Initial Distribution Date. Class 17 consists of all equity interests in the Debtor. Existing equity will be retained solely to effectuate the reorganization of the Debtor and continue operations; equity will receive no distributions on account of equity unless and until all allowed claims entitled to payment under the Plan are paid in full. Any post-Effective Date compensation to the principal is for services rendered in the ordinary course and is not a distribution on account of equity. A full-text copy of the Disclosure Statement dated February 23, 2026 is available at https://urlcurt.com/u?l=c6BXus from PacerMonitor.com at no charge. SCV Graphic Productions Inc. is represented by: Benjamin Keck, Esq. Jonathan Clements, Esq. Keck Legal, LLC 2801 Buford Highway NE, Suite 115 Atlanta, GA 30329 Tel: (470) 826-6020 Email: bkeck@kecklegal.com 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. SEAL ROCK: Seeks to Hire Cyrus Zal APC as Bankruptcy Counsel ------------------------------------------------------------ Seal Rock Property LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of California to hire Law Office of Cyrus Zal, A Professional Corporation as its counsel. The terms of the employment consist of an hourly fee of $400 and an initial minimum, non-refundable payment of $4,000. Cyrus Zal, A Professional Corporation, is a disinterested person as that term is defined in 11 U.S.C Sec. 101(14), according to court filings. The firm can be reached through: Cyrus Zal, Esq. Law Office Of Cyrus Zal 102 Mainsail Ct. Folsom, CA 95630 Tel: (916) 985-3576 Fax: (916) 526-1670 Email: czal47@comcast.net About Seal Rock Property LLC Seal Rock Property LLC is a single-asset real estate entity that owns a property at 103 Seal Rock Reach within The Sea Ranch, California 95497, operating in the real estate sector. Seal Rock Property LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 25-27068) on December 16, 2025. In its petition, the Debtor reports estimated assets of $1 million-$10 million and estimated liabilities of $1 million-$10 million. Honorable Bankruptcy Judge Christopher M. Klein handles the case. The Debtor is represented by Cyrus Zal, Esq. of Cyrus Zal, A Professional Corporation. SHARON VITALE: Tarek Kiem of Kiem Law Named Subchapter V Trustee ---------------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Tarek Kiem, Esq., at Kiem Law, PLLC as Subchapter V trustee for Sharon Vitale, P.A. Mr. Kiem 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. Kiem declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Tarek Kiem, Esq. Kiem Law, PLLC 8461 Lake Worth Road, Suite 114 Lake Worth, FL 33467 Tel: (561) 600-0406 tarek@kiemlaw.com About Sharon Vitale P.A. Sharon Vitale, P.A., doing business as Mobile Wound and Skin Practitioners, is a Florida-based healthcare practice that provides mobile wound and skin care services. It specializes in the assessment and treatment of chronic and complex wounds, including adult wound management, and delivers services outside traditional clinical settings. Sharon Vitale filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-12265) on February 24, 2026, with $30,551 in assets and $1,645,692 in liabilities. Sharon Vitale, president, signed the petition. Craig I. Kelley, Esq., at Kelley Kaplan Delaney & Eller, PLLC represents the Debtor as legal counsel. SILENT HERO: Brian Hofmeister Named Subchapter V Trustee -------------------------------------------------------- The U.S. Trustee for Regions 3 and 9 appointed Brian Hofmeister, Esq., as Subchapter V trustee for Silent Hero, LLC. Mr. Hofmeister will be paid an hourly fee of $450 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Hofmeister 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 W. Hofmeister, Esq. 3131 Princeton Pike Building 5, Suite 110 Lawrenceville, NJ 08648 Phone: (609) 890-1500 Email: bwh@hofmeisterfirm.com About Silent Hero LLC Silent Hero, LLC owns and operates Artmeetschaos, an online apparel brand offering streetwear, hoodies, T-shirts, hats, and other clothing items primarily through e-commerce, supported by industrial embroidery and garment customization equipment and marketed under the registered Artmeetschaos trademark. Silent Hero sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-11893) on February 20, 2026. In its petition, the Debtor reported assets of between $50,001 and $100,000 and liabilities of between $1 million and $10 million. The Debtor is represented by the Law Office of Norgaard O'Boyle. STANDARD FREIGHT: Aaron Cohen Named Subchapter V Trustee -------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Aaron Cohen, Esq., a practicing attorney in Jacksonville, Fla., as Subchapter V trustee for Standard Freight Logistics, Inc. Mr. Cohen will be paid an hourly fee of $325 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Cohen declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Aaron R. Cohen, Esq. P.O. Box 4218 Jacksonville, FL 32201 Tel: (904) 389-7277 Email: aaron@arcohenlaw.com About Standard Freight Logistics Inc. Standard Freight Logistics Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-00730) on February 23, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Jacob A. Brown presides over the case. Bryan K. Mickler, Esq., at Mickler & Mickler represents the Debtor as legal counsel. STANDARD FREIGHT: Seeks to Use Cash Collateral ---------------------------------------------- Standard Freight Logistics, Inc. asks the U.S. Bankruptcy Court for the Middle District of Florida, Jacksonville Division, for authority to use cash collateral and provide adequate protection. Prior to the bankruptcy filing, the Debtor executed a Promissory Note, Chattel Mortgage, and Security Agreement in favor of JW Capital Source LLC, pledging post-petition accounts receivable, chattel paper, contracts, documents, cash, and bank accounts as collateral. The lender filed its initial lien on January 21, 2026, and the loan is currently delinquent. The pledged receivables—estimated at approximately $195,000 based on an aging report of accounts less than 90 days old—constitute property of the bankruptcy estate under 11 U.S.C. section 541(a)(1) and (6). The Debtor asserts that the underlying loan may exceed allowable state and/or federal interest rate limits and, therefore, does not propose making adequate protection payments to the lender unless and until the Court determines that the loan is properly secured. The Debtor contends that access to the cash collateral is essential to meet post-petition obligations, including payroll, taxes, inventory, equipment expenses, and general operating costs, and that without such use, business operations would cease. As a form of potential adequate protection, the Debtor expresses willingness to grant the primary secured creditor a continuing post-petition replacement lien on cash collateral if the lender is ultimately determined to hold a valid secured claim. A copy of the motion is available at https://urlcurt.com/u?l=5M0AG5 from PacerMonitor.com. About Standard Freight Logistics, Inc. Standard Freight Logistics, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 3:26-bk-00730-JAB) on February 23, 2026. In the petition signed by Manuel Rivera, president, the Debtor disclosed up to $500,000 in assets and up to $1 million in liabilities. Judge Jacob A. Brown oversees the case. Bryan K. Mickler, Esq., at Law Offices of Mickler & Mickler, LLP, represents the Debtor as legal counsel. SUNSWICK 35/35: Taps Richard S. Feinsilver as Bankruptcy Counsel ---------------------------------------------------------------- Sunswick 35/35 Corp. seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to hire Richard S. Feinsilver, Esq. to handle its Chapter 11 case. The firm will be paid at these hourly rates: Richard Feinsilver, Attorney $500 Legal Assistants $100 In addition, the firm will seek reimbursement for expenses incurred. Prior to petition date, the firm received a retainer of $10,000 from the Debtor. Richard S. Feinsilver, Esq., disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Richard S. Feinsilver, Esq. One Old Country Road, S 347 Carle Place, NY 11514 Tel: (516) 873-6330 Fax: (516) 873-6183 Email: feinlawny@yahoo.com About Sunswick 35/35 Corp. Sunswick 35/35 Corp. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 26-40699) on February 12, 2026, with up to $50,000 in assets and $100,001 to $500,000 in liabilities. Judge Jil Mazer-Marino presides over the case. Richard S. Feinsilver, Esq., represents the Debtor as legal counsel. T.E.A.M. PARKER: Seeks to Hire Bush Law Firm LLC as Legal Counsel ----------------------------------------------------------------- T.E.A.M. Parker Hospitality, LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Alabama to hire The Bush Law Firm, LLC, as legal counsel. The firm's services include: a. advising the Debtor-in-Possession as to the rights, powers and duties of a debtor-in-possession, as enumerated within 11 U.S.C. Sec. 1101, et seq.; b. preparing and filing the documents necessary to advance this case including, but not limited to, answers, applications, motions, proposed orders, responses, schedules and other necessary and required legal documents; c. representing the Debtor-in-Possession at the hearings in this matter; d. preparing and filing the status report and plan; e. defending challenges to the automatic stay set forth within 11 U.S.C. Sec. 362(a); and f. providing such other legal services and/or preparing and/or filing such other documents as may be necessary for Debtor-in-Possession to carry out its duties and functions in this case. Anthony Bush, Esq., the primary attorney in this representation, and his paralegal will be billed at $350 per hour and $50 per hour, respectively, plus reimbursement. The firm received a retainer of $2,000 and a filing fee of $1,738. Mr. Bush 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: Anthony C. Bush, Esq. The Bush Law Firm, LLC 3198 Parliament Circle 302 Montgomery, AL 36116 Telephone: (334) 263-7733 Facsimile: (334) 832-4390 Email: abush@bushlegalfirm.com About T.E.A.M. Parker Hospitality, LLC T.E.A.M. Parker Hospitality, LLC, doing business as The Toasted Yolk Cafe, operates a breakfast, brunch, and lunch restaurant. The company is part of the broader Toasted Yolk franchise network, serving chef-inspired, made-from-scratch menu items in a casual cafe setting with a full bar. T.E.A.M. Parker Hospitality, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Ala. Case No. 26-10218) on February 20, 2026, listing $500,000 to $1 million in assets and $1 million to $10 million in liabilities. Judge Christopher L Hawkins presides over the case. Anthony Brian Bush, Esq. at THE BUSH LAW FIRM, LLC serves as the Debtor's counsel. TCB INVESTMENTS: Craig Geno Named Subchapter V Trustee ------------------------------------------------------ The Acting U.S. Trustee for Region 5 appointed Craig Geno, Esq., at the Law Offices of Craig M. Geno, PLLC, as Subchapter V trustee for TCB Investments, LLC. Mr. Geno will be paid an hourly fee of $300 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Geno declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Craig M. Geno, Esq. Law Offices of Craig M. Geno, PLLC 587 Highland Colony Parkway Ridgeland, MS 39157 Telephone: (601) 427-0048 Facsimile: (601) 427-0050 Email: cmgeno@cmgenolaw.com About TCB Investments LLC TCB Investments, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Miss. Case No. 26-10529) on February 19, 2026, withup to $50,000 in assets and $50,001 to $100,000 in liabilities. Judge Jason D. Woodard presides over the case. Robert Gambrell, Esq., at Gambrell & Associates, PLLC represents the Debtor as legal counsel. TECHNICAL ARTS: Taps GlassRatner Advisory as Expert Witness ----------------------------------------------------------- Technical Arts Group LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to hire GlassRatner Advisory & Capital Group LLC to serve as an expert witness in connection with an adversary proceeding. GlassRatner will provide expert testimony and litigation support in the Adversary Proceeding (Adv. Proc. No. 25-02483 (VFP) Consolidated). GlassRatner will receive compensation ranging from $250 to $700 per hour, subject to Court approval upon the filing of fee applications. According to court filings, the firm does not hold or represent any interest adverse to the estate and is a disinterested person under Section 101(14) of the Bankruptcy Code. The firm can be reached at: Raymond Moran, ASA, MRICS GLASSRATNER ADVISORY & CAPITAL GROUP LLC 250 Park Avenue, 7th Floor New York, NY 10177 About Technical Arts Group LLC Technical Arts Group LLC, a Delaware limited liability company headquartered in Moonachie, New Jersey, provides event production and premium equipment rental services, specializing in lighting, audio, video, staging, special effects, and event management for large-scale music festivals, corporate gatherings, weddings, and international events. The Company operates a 34,488-square-foot facility and employs 63 staff members, engaging additional freelance personnel as needed. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-22241) on November 18, 2025. In the petition signed by Kevin Mignone, as co-president and chief revenue officer, the Debtor disclosed $10,944,828 in assets and $8,654,532 in liabilities. Judge Vincent F Papalia oversees the case. Richard D. Trenk, Esq. and Robert S. Roglieri, Esq., at Trenk Isabel Siddiqi & Shahdanian P.C. represents the Debtor as legal counsel. TMC MAINTENANCE: Tamara Miles Ogier Named Subchapter V Trustee -------------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Tamara Miles Ogier, Esq., at Ogier, Rothschild & Rosenfeld, PC as Subchapter V trustee for TMC Maintenance Co., LLC. Ms. Ogier will be paid an hourly fee of $475 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Ogier declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Tamara Miles Ogier, Esq. Ogier, Rothschild & Rosenfeld, PC P.O. Box 1547 Decatur, GA 30031 Phone: (404) 525-4000 About TMC Maintenance Co. LLC TMC Maintenance Co., LLC is a Georgia-based LLC, formed in 2008, providing commercial and industrial HVAC maintenance and installation services throughout Georgia and the Southeast. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-20266) on February 24, 2026. In the petition signed by Jeffrey W. Guthrie, authorized representative, the Debtor disclosed up to $1 million in assets and up to $10 million in liabilities. Adam E. Ekbom, Esq., at Jones & Walden LLC, represents the Debtor as legal counsel. TONOPAH SOLAR: Seeks to Hire Debevoise & Plimpton as Co-Counsel --------------------------------------------------------------- Tonopah Solar Energy, LLC seeks approval from the U.S. Bankruptcy Court for the District of Delaware to hire Debevoise & Plimpton LLP to serve as bankruptcy co-counsel. The firm will provide these services: (a) advising the Debtor with respect to its powers and duties as debtor in possession in the continued management and operation of its business and property; (b) advising and consulting on the conduct of this Chapter 11 case; (c) attending meetings and negotiating with representatives of the creditors and other parties in interest; (d) taking all necessary action to protect and preserve the Debtor's estate; (e) preparing pleadings, including motions, applications, answers, orders, reports and papers necessary or otherwise beneficial to the administration of the Debtor's estate; (f) advising the Debtor in connection with its proposed sale of assets; (g) appearing before the Court and any appellate courts to represent the interests of the Debtor's estate before those courts; (h) taking any necessary action on behalf of the Debtor to negotiate, prepare and obtain approval of a Chapter 11 plan and all documents related thereto; and (i) performing all other necessary or otherwise beneficial legal services for the Debtor in connection with the prosecution of this Chapter 11 case. Debevoise will bill at these standard hourly rates: Partners $2,230 - $2,880 Counsel $2,000 - $2,375 Associates $980 - $1,840 Paraprofessionals $435 - $1,250 Debevoise is a "disinterested person" within the meaning of section 101(14) of the Bankruptcy Code, as required by section 327(a) of the Bankruptcy Code, and does not hold or represent an interest adverse to the Debtor's estate, according to court filings. Pursuant to paragraph D, section 1 of the Revised U.S. Trustee Guidelines, Debevoise responds to the questions set forth therein as follows: Question: Did you agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Answer: Yes, as described in the declaration. Question: Do any of the professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Answer: No. Question: If you represented the client in the 12 months prepetition, disclose your billing rates and material financial terms for the prepetition engagement, including any adjustments during the 12 months prepetition. If your billing rates and material financial terms have changed postpetition, explain the difference and the reasons for the difference. Answer: Debevoise did not represent the client in the 12 months prepetition. Question: Has your client approved your prospective budget and staffing plan, and, if so, for what budget period? Answer: The Debtor will be approving a prospective budget and staffing plan for Debevoise's engagement for the postpetition period as appropriate. In accordance with the U.S. Trustee Guidelines, the budget may be amended as necessary to reflect changed or unanticipated developments. The firm can be reached at: Rachel Ehrlich Albanese, Esq. DEBEVOISE & PLIMPTON LLP 66 Hudson Boulevard New York, NY 10001 Telephone: (212) 909-6000 About Tonopah Solar Energy Tonopah Solar Energy, LLC owns and operates a net 110-megawatt concentrated solar energy power plant located near Tonopah in Nye County, Nevada. The power plant is also known as the Crescent Dunes Solar Energy Project, which is the first utility-scale concentrated solar power plant in the United States to be fully integrated withenergy storage technology. Tonopah Solar Energy sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No. 20-11884) on July 30, 2020. At the time of the filing, the Debtor had estimated assets of between $500 million and $1 billion and liabilities of between $100 million and $500 million. Judge Karen B. Owens oversees the case. The Debtor tapped Young, Conaway, Stargatt & Taylor LLP and Willkie Farr & Gallagher LLP as its legal counsel, Houlihan Lokey Inc. as investment banker, and Epiq Corporate Restructuring, LLC as claims agent and administrative advisor. FTI Consulting, Inc., provides turnaround management services. 2nd Try Tonopah Solar Energy sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 26-10060) on January 21, 2026. In its petition, the Debtor reports estimated assets between $10 million and $50 million and estimated liabilities between $100 million and $500 million. Honorable Bankruptcy Judge J. Kate Stickles handles the case. The Debtor is represented by Aaron S. Applebaum, Esq. of DLA PIPER LLP (US). The Debtor's investment banker is SSG ADVISORS, LLC and EPIQCORPORATE RESTRUCTURING, LLC is its claims & noticing agent. TRANSPORTATION INSIGHT: Crescent Marks $1.2MM 1L Loan at 31% Off ---------------------------------------------------------------- Crescent Capital BDC, Inc. has marked its $1,257,000 loan extended to Transportation Insight, LLC to market at $867,000 or 69% of the outstanding amount, according to Crescent Capital's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC, Inc. is a participant in a Senior Secured First Lien Delayed Draw Term Loan extended to Transportation Insight, LLC. The 1L Loan is on non-accrual status. The 1L Loan matures on June 2027. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About Transportation Insight, LLC Transportation Insight, LLC is a logistics and transportation services company that provides supply chain and freight management solutions to corporate customers. TRANSPORTATION INSIGHT: Crescent Marks $5MM 1L Loan at 31% Off -------------------------------------------------------------- Crescent Capital BDC, Inc. has marked its $5,056,000 loan extended to Transportation Insight, LLC to market at $3,488,000 or 69% of the outstanding amount, according to Crescent Capital's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC, Inc. is a participant in a Senior Secured First Lien Term Loan extended to Transportation Insight, LLC. The 1L Loan is on non-accrual status. The 1L Loan matures on June 2027. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About Transportation Insight, LLC Transportation Insight, LLC is a logistics and transportation services company that provides supply chain and freight management solutions to corporate customers. TRANSPORTATION INSIGHT: Crescent Marks $713,000 1L Loan at 33% Off ------------------------------------------------------------------ Crescent Capital BDC, Inc. has marked its $713,000 loan extended to Transportation Insight, LLC to market at $475,000 or 67% of the outstanding amount, according to Crescent Capital's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC, Inc. is a participant in a Senior Secured First Lien Revolver extended to Transportation Insight, LLC. The 1L Loan is on non-accrual status. The 1L Loan matures on June 2027. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About Transportation Insight, LLC Transportation Insight, LLC is a logistics and transportation services company that provides supply chain and freight management solutions to corporate customers. TRIAD EDUCATIONAL: S&P Lowers LT 2026 Revenue Bond Rating to 'BB+' ------------------------------------------------------------------ S&P Global Ratings lowered its long-term rating to BB+/Stable from BBB-/Negative on the Public Finance Authority, Wis.' series 2021, 2022, and 2025AB bonds issued for Triad Educational Services Inc., N.C., on behalf of Triad Math and Science Academy Co. (TMSA, the academy, or the school). At the same time, S&P Global Ratings assigned its 'BB+' long-term rating to the authority's $75.9 million series 2026 education revenue bonds issued for Triad Educational Services. The outlook is stable. S&P said, "The rating action reflects our view of Triad's materially increased debt, resulting in an elevated pro forma maximum annual debt service (MADS) burden, slim pro forma MADS coverage, and high debt per student, coupled with a light liquidity position for the current rating. "We understand that one of the academy's facilities has experienced moderate groundwater exposure as a result of previous operations and usages of the property (disclosed from an environmental study in 2014). This has been resolved through prior groundwater treatment remediation, which, in our view, mitigates elevated waste and pollution or other environmental risks. We also view social and governance factors as neutral in our analysis. "The stable outlook reflects our expectation that the network's overall enrollment and demand profile will remain steady, with growth occurring as anticipated. In addition, we expect liquidity to be maintained and that--though MADS coverage is expected to remain slim, indicating the importance for the network to meet enrollment growth projections--incremental improvement is expected. While we understand that TMSA plans to continue expansion by adding facilities over the next two to three years, we have not incorporated these additional plans into our analysis given a lack of details. "We could consider a negative rating action rating should the network fail to meet enrollment, operating, coverage, or liquidity projections. In addition, we would view additional increases in debt negatively. "While we do not expect to raise the rating during the outlook period given the school's high debt and liquidity that lags that of similarly rated peers, we could consider doing so over time if the network is able to meet enrollment growth projections, including a successful opening and buildout of its new locations, while posting positive full-accrual operating performance leading to improved lease-adjusted MADS coverage and a moderating debt burden with a growing liquidity position." TRISTRUX LLC: Crescent Capital BDC Marks $1.1MM 1L Loan at 67% Off ------------------------------------------------------------------ Crescent Capital BDC, Inc. has marked its $1,100,000 loan extended to TriStrux, LLC to market at $365,000 or 33% of the outstanding amount, according to Crescent Capital's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission on Feb. 25, 2026. Crescent Capital BDC, Inc. is a participant in a Senior Secured First Lien Revolver loan extended to TriStrux, LLC. The 1L Loan is on non-accrual status. The 1L Loan matures on December 2027. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About TriStrux, LLC TriStruX LLC provides telecommunications infrastructure services. The Company offers wireless and fiber networks, building telecommunications infrastructure, and electrical contracting services. TRISTRUX LLC: Crescent Capital Marks $2.7MM 1L Loan at 67% Off -------------------------------------------------------------- Crescent Capital BDC, Inc. has marked its $2,798,000 loan extended to TriStrux, LLC to market at $930,000 or 33% of the outstanding amount, according to Crescent Capital's Form10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC, Inc. is a participant in a Senior Secured First Lien Term Loan extended to TriStrux, LLC. The 1L Loan is on non-accrual status. The 1L Loan matures on December 2027. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About TriStrux, LLC TriStruX LLC provides telecommunications infrastructure services. The Company offers wireless and fiber networks, building telecommunications infrastructure, and electrical contracting services. TRISTRUX LLC: Crescent Capital Marks $982,000 1L Loan at 67% Off ---------------------------------------------------------------- Crescent Capital BDC, Inc. has marked its $982,000 loan extended to TriStrux, LLC to market at $326,000 or 33% of the outstanding amount, according to Crescent Capital's Form 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC, Inc. is a participant in a Senior Secured First Lien Delayed Draw Term Loan extended to TriStrux, LLC. The 1L Loan is on non-accrual status. The 1L Loan matures on December 2027. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About TriStrux, LLC TriStruX LLC provides telecommunications infrastructure services. The Company offers wireless and fiber networks, building telecommunications infrastructure, and electrical contracting services. TW ELECTRIC: Richard Preston Cook Named Subchapter V Trustee ------------------------------------------------------------ Brian Behr, the U.S. Bankruptcy Administrator for the Eastern District of North Carolina, appointed Richard Preston Cook as Subchapter V trustee for TW Electric Service, Inc. The Subchapter V trustee's hourly rate for this engagement is $375. Mr. Cook declared that he does not have an interest materially adverse to the interest of JHRG Manufacturing's estate, creditors or equity security holders. About TW Electric Service Inc. TW Electric Service, Inc. is a family-owned electrical contracting company based in Benson, North Carolina. TW Electric Service filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. E.D. N.C. Case No. 26-00840) on February 25, 2026, listing assets of between $50,001 and $100,000 in assets and between $100,001 and $500,000 in liabilities. Terry Wood, president of TW Electric Service, signed the petition. Judge Pamela W. McAfee oversees the case. Rebecca Redwine Grow, Esq., at Hendren, Redwine & Malone, PLLC, represents the Debtor as legal counsel. TW ELECTRIC: Seeks to Tap Hendren Redwine & Malone as Counsel ------------------------------------------------------------- TW Electric Service, Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of North Carolina, Raleigh Division, to hire Hendren, Redwine & Malone, PLLC to serve as its legal counsel. The firm will provide these services: (a) represent and assist the Debtor in carrying out its duties under the provisions of Chapter 11 of the Bankruptcy Code; (b) represent the estate generally throughout the administration of this Chapter 11 proceeding. The Debtor voluntarily paid Hendren Redwine $7,500 on February 18, 2026, and $7,500 on February 24, 2026 for the Chapter 11 bankruptcy. From these funds, $7,501.50 was applied to fees and expenses incurred prior to the filing of the petition on February 25, 2026. At the time the petition was filed, no outstanding fees or expenses were due to Hendren Redwine. The sum of $7,498.50 remains in the firm's Trust Account. Hendren Redwine is a "disinterested person" within the meaning of Section 327(a) of the Bankruptcy Code and does not hold or represent an interest adverse to the estate. The firm can be reached at: Jason L. Hendren, Esq. Rebecca Redwine Grow, Esq. Benjamin E.F.B. Waller, Esq. Lydia C. Carpenter, Esq. HENDREN, REDWINE & MALONE, PLLC 4600 Marriott Drive, Suite 150 Raleigh, NC 27612 Telephone: (919) 573-1422 Facsimile: (919) 420-0475 Email: jhendren@hendrenmalone.com rredwine@hendrenmalone.com bwaller@hendrenmalone.com lcarpenter@hendrenmalone.com About TW Electric Service, Inc. TW Electric Service, Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. N.C., Raleigh Division, Case No. 26-00840-5-PWM) on February 25, 2026. At the time of the filing, Debtor had estimated assets of between $50,001 and $100,000 and liabilities of between $100,001 and $500,000. Judge Pamela W. Mcafee oversees the case. Hendren, Redwine & Malone, PLLC is Debtor's legal counsel. TZADIK SIOUX: Amends Unsecured Claims Pay Details ------------------------------------------------- Tzadik Sioux Falls Portfolio I, LLC and affiliates submitted a Second Amended Disclosure Statement for Second Amended Plan of Reorganization dated February 23, 2026. The Debtors commenced the Chapter 11 Case with an intention to satisfy secured claims through the sales of property leaving significantly deleveraged reorganized Debtors and their going concern operations intact (the "Reorganization"). As part of the Reorganization, the Plan provides for a structured series of sale, refinancing, and restructuring transactions designed to satisfy secured indebtedness while preserving the Debtors' ongoing operations. The Plan contemplates the payment or consensual restructuring of the Fannie Mae and Merchants secured debt pursuant to negotiated settlements, the orderly satisfaction of the Gatoralex and SBA secured claims from sale or refinancing proceeds or net disposable income, and the full payment of remaining secured and unsecured claims over time. The Reorganization is intended to deleverage the Debtors' balance sheets, preserve equity interests where appropriate, and allow the Reorganized Debtors to continue operating certain Properties as going concerns. This Plan presently contemplates the following treatment for certain key classes of creditors as part of each of the Debtors' Reorganization plans, as applicable: * Fannie Mae Claims: The Fannie Mae Claims are Impaired and Allowed pursuant to settlement. They will be satisfied through sale or refinancing proceeds or otherwise paid in full in Cash in accordance with the Fannie Mae Settlement. Fannie Mae retains its liens unless and until paid in full. * Merchants Claims: The Merchants Claims are Impaired and Allowed pursuant to settlement. The Plan requires payment through a refinancing or sale transaction by August 31, 2026, failing which Merchants may receive the transfer of its collateral or the proceeds of a public auction sale. Merchants retains the right to credit bid its secured claim. * Gatoralex Secured Claims: The Gatoralex Secured Claims are Impaired and will be paid from sale or refinancing proceeds after satisfaction of senior secured debt, or through quarterly payments of net disposable income, with the balance due no later than the Plan Conclusion Date. Any unsecured deficiency is treated as a General Unsecured Claim. * SBA Secured Claims: The SBA Secured Claims are Impaired and will be satisfied from sale or refinancing proceeds after senior secured claims or, if necessary, through quarterly payments of net disposable income, with full payment required by the Plan Conclusion Date. * Other Secured Claims: The Other Secured Claims are Impaired and will be paid from sale or refinancing proceeds or, if applicable, from net disposable income over time, with full payment required by the Plan Conclusion Date. Certain claims are cross-collateralized and allocated among Debtors as provided in the Plan. * General Unsecured Claims: The General Unsecured Claims are Impaired and will be paid from residual sale or refinancing proceeds after satisfaction of senior classes or, if necessary, through quarterly payments of net disposable income. The Plan contemplates payment of such claims in full by the Plan Conclusion Date. Class 1(F) consists of General Unsecured Claims against TSF Portfolio I. Except to the extent that a holder of an Allowed General Unsecured Claim agrees to different treatment, in full and final satisfaction of all Allowed Class 1(F) General Unsecured Claims, TSF Portfolio I shall: (i) on or before the Effective Date, in the event of a Sale Transaction or Asset Sale Transaction of the TSF Portfolio I Properties, after the satisfaction of all Allowed Class 1(A) Fannie Mae Claims, 1(B) Gatoralex Secured Claims, 1(C) SBA Secured Claims, 1(D) Other Secured Claims, and 1(E) Priority Non-Tax Claims, pay holders of Allowed Class 1(F) General Unsecured Claims the remaining net sale proceeds until all such claims are paid in full; or (ii) (a) after the Effective Date, in the month immediately after the satisfaction of all Allowed Class 1(A) Fannie Mae Claims, Class 1(B) Gatoralex Secured Claims, Class 1(C) SBA Secured Claims, Class 1(D) Other Secured Claims, and Class 1(E) Priority Non-Tax Claims, TSF Portfolio I shall commence payments of its net disposable income to holders of Allowed Class 1(F) General Unsecured Claims on a quarterly basis through the Plan Conclusion Date, and (b) on or before the Plan Conclusion Date, TSF Portfolio I shall pay the balance of the Allowed Class 1(F) General Unsecured Claims in their entirety through a Refinancing Transaction or Sale Transaction in full and final satisfaction, settlement, release, and discharge of all Allowed Class 1(F) General Unsecured Claims. Class 2(E) consists of General Unsecured Claims against TSF I. Except to the extent that a holder of an Allowed General Unsecured Claim agrees to different treatment, in full and final satisfaction of all Allowed Class 2(E) General Unsecured Claims, TSF I shall: (i) on or before the Effective Date, in the event of a Sale Transaction or Asset Sale Transaction of the TSF I Properties, after the satisfaction of all Allowed Class 2(A) Fannie Mae Claims, 1(B) Gatoralex Secured Claims, 1(C) Other Secured Claims, and 1(D) Priority Non-Tax Claims, pay holders of Allowed Class 2(E) General Unsecured Claims the remaining net sale proceeds until all such claims are paid in full; or (ii) (a) after the Effective Date, in the month immediately after the satisfaction of all Allowed Class 2(A) Fannie Mae Claims, Class 2(B) Gatoralex Secured Claims, Class 2(C) Other Secured Claims, and Class 2(D) Priority Non-Tax Claims, TSF I shall commence payments of its net disposable income to holders of Allowed Class 2(E) General Unsecured Claims on a quarterly basis through the Plan Conclusion Date, and (b) on or before the Plan Conclusion Date, TSF I shall pay the balance of the Allowed Class 2(E) General Unsecured Claims in their entirety through a Refinancing Transaction or Sale Transaction in full and final satisfaction, settlement, release, and discharge of all Allowed Class 2(E) General Unsecured Claims. Class 3(F) consists of General Unsecured Claims against TSF Portfolio III. Except to the extent that a holder of an Allowed General Unsecured Claim agrees to different treatment, in full and final satisfaction of all Allowed Class 3(F) General Unsecured Claims, TSF Portfolio III shall: (i) on or before the Effective Date, in the event of a Restructuring Transaction, Sale Transaction, or Asset Sale Transaction of the TSF Portfolio III Properties, after the satisfaction of all Allowed Class 3(A) Merchants Claims, 1(B) Gatoralex Secured Claims, 1(C) SBA Secured Claims, 1(D) Other Secured Claims, and 1(E) Priority Non-Tax Claims, pay holders of Allowed Class 3(F) General Unsecured Claims the remaining net sale proceeds until all such claims are paid in full; or (ii) (a) after the Effective Date, in the month immediately after the satisfaction of all Allowed Class 3(A) Merchants Claims, Class 3(B) Gatoralex Secured Claims, Class 3(C) SBA Secured Claims, Class 3(D) Other Secured Claims, and Class 3(E) Priority Non-Tax Claims, TSF Portfolio III shall commence payments of its net disposable income to holders of Allowed Class 3(F) General Unsecured Claims on a quarterly basis through the Plan Conclusion Date, and (b) on or before the Plan Conclusion Date, TSF Portfolio III shall pay the balance of the Allowed Class 3(F) General Unsecured Claims in their entirety through a Refinancing Transaction or Sale Transaction in full and final satisfaction, settlement, release, and discharge of all Allowed Class 3(F) General Unsecured Claims. Class 4(D) consists of General Unsecured Claims against Taylor's Place. Except to the extent that a holder of an Allowed General Unsecured Claim agrees to different treatment, in full and final satisfaction of all Allowed Class 4(D) General Unsecured Claims, Taylor's Place shall: (i) on or before the Effective Date, in the event of a Restructuring Transaction, Sale Transaction, or Asset Sale Transaction of the Taylor's Place Properties, after the satisfaction of all Allowed Class 4(A) Merchants Claims, Class 1(B) Other Secured Claims, and Class 1(C) Non-Priority Tax Claims, pay holders of Allowed Class 4(D) General Unsecured Claims the remaining net sale proceeds until all such claims are paid in full; or (ii) (a) after the Effective Date, in the month immediately after the satisfaction of all Allowed Class 4(A) Merchants Claims, Class 4(B) Other Secured Claims, and Class 4(C) Priority Non-Tax Claims, Taylor's Place shall commence payments of its net disposable income to holders of Allowed Class 4(D) General Unsecured Claims on a quarterly basis through the Plan Conclusion Date, and (b) on or before the Plan Conclusion Date, Taylor's Place shall pay the balance of the Allowed Class 4(D) General Unsecured Claims in their entirety through a Refinancing Transaction or Sale Transaction in full and final satisfaction, settlement, release, and discharge of all Allowed Class 4(D) General Unsecured Claims. Taylor's Place reserves the right to pay any balance of all Allowed General Unsecured Claims in full without penalty of any kind. Class 5(D) consists of General Unsecured Claims against Garden Villas. Except to the extent that a holder of an Allowed General Unsecured Claim agrees to different treatment, in full and final satisfaction of all Allowed Class 5(D) General Unsecured Claims, Garden Villas shall: (i) on or before the Effective Date, in the event of a Restructuring Transaction, Sale Transaction, or Asset Sale Transaction of the Garden Villas Properties, after the satisfaction of all Allowed Class 5(A) Merchants Claims, Class 1(B) Other Secured Claims, and Class 1(C) Non-Priority Tax Claims, pay holders of Allowed Class 5(D) General Unsecured Claims the remaining net sale proceeds until all such claims are paid in full; or (ii) (a) after the Effective Date, in the month immediately after the satisfaction of all Allowed Class 5(A) Merchants Claims, Class 5(B) Other Secured Claims, and Class 5(C) Priority Non-Tax Claims, Garden Villas shall commence payments of its net disposable income to holders of Allowed Class 5(D) General Unsecured Claims on a quarterly basis through the Plan Conclusion Date, and (b) on or before the Plan Conclusion Date, Garden Villas shall pay the balance of the Allowed Class 5(D) General Unsecured Claims in their entirety through a Refinancing Transaction or Sale Transaction in full and final satisfaction, settlement, release, and discharge of all Allowed Class 5(D) General Unsecured Claims. Class 6(D) consists of General Unsecured Claims against Hidden Hills. Except to the extent that a holder of an Allowed General Unsecured Claim agrees to different treatment, in full and final satisfaction of all Allowed Class 6(D) General Unsecured Claims, Hidden Hills shall: (i) on or before the Effective Date, in the event of a Restructuring Transaction, Sale Transaction, or Asset Sale Transaction of the Hidden Hills Properties, after the satisfaction of all Allowed Class 6(A) Merchants Claims, Class 1(B) Other Secured Claims, and Class 1(C) Non-Priority Tax Claims, pay holders of Allowed Class 6(D) General Unsecured Claims the remaining net sale proceeds until all such claims are paid in full; or (ii) (a) after the Effective Date, in the month immediately after the satisfaction of all Allowed Class 6(A) Merchants Claims, Class 6(B) Other Secured Claims, and Class 6(C) Priority Non-Tax Claims, Hidden Hills shall commence payments of its net disposable income to holders of Allowed Class 6(D) General Unsecured Claims on a quarterly basis through the Plan Conclusion Date, and (b) on or before the Plan Conclusion Date, Hidden Hills shall pay the balance of the Allowed Class 6(D) General Unsecured Claims in their entirety through a Refinancing Transaction or Sale Transaction in full and final satisfaction, settlement, release, and discharge of all Allowed Class 6(D) General Unsecured Claims. Class 7(E) consists of General Unsecured Claims against Rapid City. Except to the extent that a holder of an Allowed General Unsecured Claim agrees to different treatment, in full and final satisfaction of all Allowed Class 7(E) General Unsecured Claims, Rapid City shall: (i) on or before the Effective Date, in the event of a Restructuring Transaction, Sale Transaction, or Asset Sale Transaction of the Rapid City Properties, after the satisfaction of all Allowed Class 7(A) Merchants Claims, Class 7(B) SBA Secured Claims, Class 7(C) Other Secured Claims, and Class 7(E) Non-Priority Tax Claims, pay holders of Allowed Class 7(E) General Unsecured Claims the remaining net sale proceeds until all such claims are paid in full; or (ii) (a) after the Effective Date, in the month immediately after the satisfaction of all Allowed Class 7(A) Merchants Claims, Class 7(B) SBA Secured Claims, Class 7(C) Other Secured Claims, and Class 7(E) Non Priority Tax Claims, Rapid City shall commence payments of its net disposable income to holders of Allowed Class 7(E) General Unsecured Claims on a quarterly basis through the Plan Conclusion Date, and (b) on or before the Plan Conclusion Date, Rapid City shall pay the balance of the Allowed Class 7(E) General Unsecured Claims in their entirety through a Refinancing Transaction or Sale Transaction in full and final satisfaction, settlement, release, and discharge of all Allowed Class 7(E) General Unsecured Claims. Class 8(B) consists of General Unsecured Claims against TMG. All Class 8(B) General Unsecured Claims overlap with claims asserted by holders of General Unsecured Claims (and to be paid in full) in Classes 1, 2, 3, 4, 5, 6 or 7. All Allowed Class 8(B) General Unsecured Claims shall be satisfied in full as provided in Classes 1, 2, 3, 4, 5, 6 or 7, and shall not receive a distribution from TMG. The Debtors shall fund distributions and satisfy applicable Allowed Claims and Allowed Interests under the Plan using Cash on hand and the Net Proceeds of the Restructuring Transactions (which includes the Net Proceeds from any proceeds of a Sale Transaction, and, if applicable, the proceeds of an Asset Sale Transaction), transfers of property in satisfaction of secured claims and anticipated Refinancing Transaction. A full-text copy of the Second Amended Disclosure Statement dated February 23, 2026 is available at https://urlcurt.com/u?l=MxbTzb from PacerMonitor.com at no charge. Counsel for the Debtors: Morgan Edelboim, Esq. Brett D. Lieberman, Esq. Edelboim Lieberman Revah PLLC 20200 W. Dixie Highway, Suite 905 Aventura, FL 33180 Tel: (305) 768-9909 Fax: (305) 928-1114 E-mail: morgan@elrolaw.com About Tzadik Sioux Falls Portfolio I LLC Tzadik Sioux Falls Portfolio I, LLC possesses several multi-family properties in Sioux Falls, SD. The Debtor 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. Morgan Edelboim, Esq., at Edelboim Lieberman, PLLC, is the Debtor's legal counsel. Fannie Mae, as secured lender, is represented by: Alexis A. Leventhal, Esq. Keith Aurzada, Esq. Jay Krystinik, Esq. Devan Dal Col, Esq. Reed Smith, LLP 1001 Brickell Bay Drive, Suite 900 Miami, FL 33131 Phone: 786-747-0247 aleventhal@reedsmith.com kaurzada@reedsmith.com jkrystinik@reedsmith.com ddalcol@reedsmith.com Merchants Bank of Indiana, as secured lender, is represented by: Scott N. Brown, Esq. Bast Amron, LLP One Southeast Third Avenue, Suite 2410 Miami, FL 33131 Telephone: 305.379.7904 sbrown@bastamron.com UNITED SITE: Completes Restructuring With $2.4B Debt Reduction -------------------------------------------------------------- United Site Services, the largest national provider of portable sanitation services and complementary site solutions in the United States, announced on March 5, 2026, that it has successfully completed a comprehensive financial recapitalization, significantly strengthening its balance sheet and positioning the Company for accelerated growth. The Company has implemented its Plan of Reorganization, which was confirmed by the U.S. Bankruptcy Court on February 27, 2026. The Company achieved the objectives set for this process, reducing its funded debt level by $2.4 billion and infusing the Company with new capital, including $480 million in new equity financing, $300 million in new-money term loans, a $195 million ABL credit facility, and a separate $100 million revolving credit facility. The Company maintained uninterrupted operations throughout the transaction, delivering on its commitments to employees, customers, and vendors. United Site Services has now partnered with an investor group consisting of its former lenders and has implemented its optimized capital structure to drive long-term growth and invest in its future. "We are excited to enter this new chapter as a financially stronger company, well-positioned to drive our strategic growth initiatives forward. With this transition complete, we have enhanced flexibility and resources to deliver the highest quality services for our customers," said Bobby Creason, Chief Executive Officer. "We are focused on optimizing our business and continuously improving the customer experience. I want to thank our employees for their dedication, our customers and vendors for their partnership, and our investor group for their confidence in our market leadership and growth potential." United Site Services is advised in this matter by Milbank LLP as legal counsel, PJT Partners as investment banker, Alvarez & Marsal as financial advisor, and FTI Consulting as communications advisor. The Ad Hoc Lender Group is advised by Akin Gump Strauss Hauer & Feld LLP as legal counsel and Centerview Partners LLC as financial advisor. About United Site Services Inc. United Site Services Inc. is a national provider of portable toilet rentals and temporary site services. The company serves construction companies, municipalities, industrial clients, and event organizers throughout the United States. United Site Services Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-23630) on Dec. 29, 2025. In its petition, the Debtor reports estimated assets and liabilities each ranging between $1 billion and $10 billion. The Honorable Bankruptcy Judge Michael B. Kaplan handles the case. The Debtors tapped Milbank, LLP and Cole Schotz, PC as legal counsel; Alvarez & Marsal North America, LLC as financial advisor; PJT Partners, LP as investment banker; PwC US Tax, LLP as tax services provider; and PricewaterhouseCoopers, LLP as audit services provider. Kurtzman Carson Consultants, LLC, doing business as Verita Global, is the Debtors' claims and noticing agent and administrative advisor. Wilmington Savings Fund Society, as DIP agent, is represented by lawyers at ArentFox Schiff, LLP; and Porzio, Bromberg & Newman, P.C. VALINA RELAX: Gets Extension to Use Cash Collateral --------------------------------------------------- Valina Relax, Inc. received another extension from the U.S. Bankruptcy Court for the Middle District of Florida, Jacksonville Division, to use cash collateral. At the recently held hearing, the court authorized the Debtor's interim use of cash collateral and set a further hearing for March 31. The Debtor was initially allowed to access cash collateral under the court's Feb. 17 interim order. The initial order authorized the payment of the Debtor's expenses from the cash collateral in accordance with its budget and granted secured creditors replacement liens on post-petition cash collateral, with the same validity and priority as their pre-petition liens. About Valina Relax Inc. Valina Relax, Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-00187) on January 17, 2026, listing assets of between $50,001 and $100,000 and liabilities of between $500,001 and $1 million . Judge Jacob A. Brown presides over the case. Rehan N. Khawaja, Esq., at the Law Offices of Rehan N. Khawaja represents the Debtor as bankruptcy counsel. VANTAGE INSURANCE: Crescent Capital Marks $78,000 Loan at 58% Off ----------------------------------------------------------------- Crescent Capital BDC, Inc. has marked its $78,000 loan extended to Vantage Insurance Partners, Inc. to market at $33,000 or 42% of the outstanding amount, according to Crescent Capital's 10-K for the fiscal year ended Dec. 31, 2025, filed with the U.S. Securities and Exchange Commission. Crescent Capital BDC, Inc. is a participant in an Unitranche First Lien Revolver loan extended to Vantage Insurance Partners, Inc. The 1L Loan accrues interest at a rate of S + 650 (100 Floor), 10.17% per annum. The 1L Loan matures on December 2028. Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The company is incorporated under the laws of the State of Maryland. The firm's investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. The company invest primarily in secured debt (including first lien, unitranche first lien, and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. The Fund is led by Jason A. Breaux as Chief Executive Officer and Gerhard Lombard as Chief Financial Officer. The Fund can be reached at: Jason A. Breaux Crescent Capital BDC, Inc. 11100 Santa Monica Blvd., Suite 2000 Los Angeles, CA 90025 Telephone: (310) 235-5900 About Vantage Insurance Partners, Inc. Vantage Insurance Partners, Inc. is an insurance-focused company that has borrowed under a unitranche first-lien revolving credit facility. VENUS CAPITAL: Court Grants Chapter 15 Recognition -------------------------------------------------- Chief Judge John A. Dorsey of the U.S. Bankruptcy Court for the District of Rhode Island granted the petitions seeking recognition of foreign proceedings initiated in Mauritius and the British Virgin Islands. Three of the Chapter 15 cases involve proceedings based in Mauritius: Venus Capital Management Company, Bk. No. 25-10709; Venus India Structured Finance Master Limited, Bk. No. 25-10710; and Venus Master Fund, Bk. No. 25-10711 (the "Mauritius Debtors"). The other two involve proceedings based in the BVI: Venus Global Macro Fund, Ltd, Bk. No. 25-10713; Venus India Structured Finance (Offshore) Fund Limited, Bk. No. 25-10714 (the "BVI Debtors"). Vikas Mehrotra incorporated Venus Capital Management Company ("VCM") in 2010. VCM was set up to act as a Collective Investment Scheme ("CIS"). Mehrotra owned 100% of VCM's shares. As the sole holder of the management shares (voting, non-participating), VCM is the sole voting member of two funds incorporated in the BVI, Venus Global Macro Fund, Ltd. and Venus India Structured Finance (Offshore) Fund Limited. The BVI India Fund and BVI Macro Fund "operated as feeder funds in master-feeder-fund structures" with the Venus Master Fund (the "Mauritius Macro Fund") and the Venus India Structured Finance Master Limited ("Mauritius India Fund") acting as master funds. The Mauritius Macro Fund served as the master fund for the BVI Macro Fund and the Mauritius India Fund served as the master fund for the BVI India Fund. In turn, the Mauritius Macro Fund and the BVI Macro Fund were formed to make profits through investments in listed securities in India. As an alternative to security investments, the Mauritius India Fund and the BVI India Fund provided a structure to invest in a non-banking financial company in which investors could participate in the market for secured and unsecured lending to Indian companies. Mehrotra principally operated the investment activities of both the BVI and Mauritius Debtors. Mehrotra unexpectedly passed away in 2023. Mehrotra was so vital to VCM's operations that upon his death VCM's board of directors could no longer effectively manage the company or make strategic decisions on its behalf. After determining that the company could not function, VCM's directors began taking steps to put the appropriate entities into insolvency proceedings. In November of 2024, VCM's directors formally appointed Huns Biltoo as Administrator of VCM pursuant to Section 215(6)(a) of the Mauritius Insolvency Act. In turn, Biltoo as the Mauritius Liquidator executed shareholder resolutions to place the BVI Debtors into liquidation under Section 159(2) of the BVI Insolvency Act. From there, the Mauritius Foreign Representative appointed Russell Crumpler and Christopher Farmer as joint BVI Liquidators or BVI Foreign Representatives. The Mauritius Liquidator and BVI Liquidators have represented to the Court that they are cooperating with each other to take control of their respective Debtors' investments, cash, and other assets to distribute them to the appropriate creditors and investors. The Mauritius Liquidator and BVI Liquidators have confirmed that they have control over the Mauritius and BVI Debtors, respectively, and that since their appointments, most of the work performed in relation to the Foreign Proceedings has been done in each Debtor's country of origin. The Debtors have initiated these cases for the primary purpose of staying actions against them and taking control of certain bank accounts located at Citizens Bank in Providence, R.I. The Debtors claim their principal assets are the Bank Accounts and an ownership interest in a retainer on deposit in an Akerman LLP trust account in Rhode Island. Having concluded that the Foreign Representatives of the Mauritius and BVI Proceedings satisfied all requirements of Sec. 1517 and Sec. 1515, the Court granted the Petitions. The Court also granted discretionary relief under Sec. 1521(a) to assist the foreign representatives in their goal of taking control of the Bank Accounts and properly distributing their contents. A copy of the Court's Opinion dated March 2, 2026, is available at https://urlcurt.com/u?l=rXdDno from PacerMonitor.com. About Venus Capital Management Company Venus Capital Management Company incorporated in Mauritius in 2010 and licensed as a Global Business entity, operates as a Collective Investment Scheme Manager under the Mauritius Securities Act, overseeing investment funds focused on India and broader macro strategies. Its managed entities include Venus India Structured Finance Master Limited, a fund originally formed in 2013 and restructured under its current name in 2022 to provide India-focused financing strategies, and Venus Master Fund, established in 2016 to pursue global macro investment opportunities. The firm functions under the regulatory framework of the Mauritius Financial Services Commission. Venus Capital Management Company sought relief under Chapter 15 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-10709) on September 5, 2025. The Foreign Proceeding is Companies in Insolvency Proceedings in the Republic of Mauritius under the Mauritius Insolvency Act, 2009. The Debtors in Foreign Proceedings are Venus Capital Management Company; Venus India Structured Finance Master Limited; and Venus Master Fund. The Debtor's foreign representative is Bavesh Huns Biltoo. The Foreign Representative's Counsel are H. Frances Kleiner, Esq. and R. Adam Swick, Esq., at AKERMAN LLP. VILLAGE ROADSHOW: Plan Confirmation Hearing Scheduled for April 16 ------------------------------------------------------------------ IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE In re: VILLAGE ROADSHOW ENTERTAINMENT GROUP USA INC., et al., Chapter 11 Case No. 25-10475 (TMH) (Jointly Administered) Debtors NOTICE OF (I) CONDITIONAL APPROVAL OF DISCLOSURE STATEMENT AND (II) THE HEARING TO CONSIDER (A) FINAL APPROVAL OF THE DISCLOSURE STATEMENT AS CONTAINING ADEQUATE INFORMATION, (B) CONFIRMATION OF THE JOINT PLAN OF VILLAGE ROADSHOW ENTERTAINMENT GROUP USA INC. AND ITS DEBTOR AFFILIATES, AND (C) RELATED VOTING AND OBJECTION DEADLINES On February 20, 2026, the United States Bankruptcy Court for the District of Delaware (the "Court") entered an order (the "Disclosure Statement Order"): (a) conditionally approving the Disclosure Statement for Joint Plan of Liquidation of Village Roadshow Entertainment Group USA Inc. and its Debtor Affiliates (including all exhibits thereto and as may be amended, supplemented, or modified from time to time, the "Disclosure Statement") for solicitation purposes only; (b) approving the solicitation and voting procedures with respect to the proposed Joint Plan of Liquidation of Village Roadshow Entertainment Group USA Inc. and its Debtor Affiliates (as may be amended, modified, or supplemented from time to time, the "Plan"); (c) approving the solicitation materials and documents to be included in the solicitation packages (the "Solicitation Package"); and (d) approving procedures for soliciting, receiving, and tabulating votes on the Plan and for filing objections to the Plan. The hearing at which the Court will consider (a) final approval of the Disclosure Statement as containing adequate information within the meaning of section 1125 of the Bankruptcy Code and (b) confirmation of the Plan (the "Combined Hearing") will commence on April 16, 2026 at 10:00 a.m., prevailing Eastern Time, before the Honorable Thomas M. Horan, United States Bankruptcy Judge, via Zoom or at the Court, 824 North Market Street, 3rd Floor, Courtroom No. 7, Wilmington, Delaware 19801. Voting Record Date. The voting record date is February 18, 2026, except as otherwise provided in the Disclosure Statement (the "Voting Record Date"), which is the date for determining which Holders of Claims in Classes 3B and 4 are entitled to vote on the Plan. Voting Deadline. The deadline for voting on the Plan is on March 27, 2026 at 4:00 p.m. prevailing Eastern Time (the "Voting Deadline"). If you received a Solicitation Package, including a Ballot, and intend to vote on the Plan, you must: (a) follow the instructions carefully; (b) complete all of the required information on the Ballot; and (c) execute and return your completed Ballot according to and as set forth in detail in the voting instructions so that it is actually received by the Debtors' voting and solicitation agent, Kurtzman Carson Consultants, LLC (KCC) dba Verita Global ("Verita" or the "Voting Agent"), on or before the Voting Deadline. A failure to follow such instructions may disqualify your vote. Objection Deadline. The deadline for filing objections to the Plan and any objection to the adequacy of the disclosures in the Disclosure Statement, if any, is March 27, 2026 at 4:00 p.m. prevailing Eastern Time (the "Confirmation Objection Deadline"). All objections to the relief sought at the Combined Hearing must: (a) be in writing; (b) conform to the Bankruptcy Rules, the Local Rules, and any orders of the Court; (c) state with particularity the legal and factual basis for the objection and, if practicable, a proposed modification to the Plan (or related materials) that would resolve such objection; and (d) be filed with the Court (contemporaneously with a proof of service) and served upon the following parties so as to be actually received on or before the Confirmation Objection Deadline: (a) the Debtors, Village Roadshow Entertainment Group USA Inc., 750 N. San Vicente Blvd., Suite 800 West, West Hollywood, CA (Attn: Kevin Berg (kevin.berg@vreg.com) and Keith Maib (kmaib@accordion.com)); (b) counsel to the Debtors, (i) Sheppard, Mullin, Richter & Hampton LLP, 321 North Clark Street, 32nd Floor, Chicago, IL 60654 (Attn.: Justin R. Bernbrock (jbernbrock@sheppardmullin.com), Jennifer L. Nassiri (jnassiri@sheppardmullin.com), Alyssa Paddock (apaddock@sheppardmullin.com), and Matthew T. Benz (mbenz@sheppardmullin.com)), and (ii) Young Conaway Stargatt & Taylor, LLP, 1000 N. King Street, Rodney Square, Wilmington, DE 19801, Joseph M. Mulvihill (jmulvihill@ycst.com); (c) the Office of the United States Trustee for the District of Delaware, J. Caleb Boggs Federal Building, 844 King Street, Suite 2207, Wilmington, DE 19801 (Attn.: Timothy Fox (timothy.fox@usdoj.gov)); and (d) counsel to the Official Committee of Unsecured Creditors, Pachulski Stang Ziehl & Jones LLP, 1700 Broadway, 36th Floor, New York, NY 10019 (Attn.: Robert Feinstein (rfeinstein@pszjlaw.com) and Bradford Sandler (bsandler@pszjlaw.com). Obtaining Solicitation Materials. The materials in the Solicitation Package are intended to be self-explanatory. If you should have any questions or if you would like to obtain additional solicitation materials (or paper copies of solicitation materials if you received electronic access to the solicitation materials), please feel free to contact the Debtors' Voting Agent by: (a) writing to Village Roadshow Entertainment Ballot Processing Center, c/o KCC dba Verita, 222 N. Pacific Coast Highway, Suite 300, El Segundo, CA 90245; (b) calling the Debtors' restructuring hotline at (866) 526-6865 (Toll-Free) or (781) 575-2076 (International); or (c) visiting the Debtors' restructuring website at https://veritaglobal.net/vreg/inquiry for additional information or to send an email inquiry. You may also obtain copies of any pleadings filed in these chapter 11 cases for a fee via PACER at: https://www.deb.uscourts.gov/. Please be advised that the Voting Agent is authorized to answer any questions about, and provide additional copies of, solicitation materials, but may not advise you as to whether you should vote to accept or reject the Plan. Notice of the Assumption or Rejection of Executory Contracts. Under the terms of Article V of the Plan, on the Effective Date, all Executory Contracts and Unexpired Leases of the Debtors not otherwise assumed or rejected will be deemed rejected in accordance with the provisions and requirements of sections 365 and 1123 of the Bankruptcy Code, other than those Executory Contracts or Unexpired Leases that are the subject of a motion to assume that is pending on the Confirmation Date. Assumption of any Executory Contract or Unexpired Lease pursuant to the Sale Documents or the Plan, and payment of any cure amounts relating thereto, shall, upon satisfaction of the applicable requirements of section 365 of the Bankruptcy Code, result in the full, final, and complete release and satisfaction of any Claims or defaults, whether monetary or nonmonetary, including defaults or provisions restricting the change in control of ownership interest composition or other bankruptcy-related defaults, arising under any assumed Executory Contract or Unexpired Lease at any time prior to the effective date of assumption. BINDING NATURE OF THE PLAN: IF CONFIRMED, THE PLAN SHALL BIND ALL HOLDERS OF CLAIMS AND INTERESTS TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, WHETHER OR NOT SUCH HOLDER WILL RECEIVE OR RETAIN ANY PROPERTY OR INTEREST IN PROPERTY UNDER THE PLAN, HAS FILED A PROOF OF CLAIM IN THESE CHAPTER 11 CASES OR FAILED TO VOTE TO ACCEPT OR REJECT THE PLAN OR VOTED TO REJECT THE PLAN. Chapter 11 Plan As shared by the Troubled Company Reporter, Village Roadshow Entertainment Group USA Inc. and its affiliates filed with the U.S. Bankruptcy Court for the District of Delaware a Disclosure Statement for the Joint Chapter 11 Plan of Liquidation dated January 29, 2026. Debtor Village Roadshow Entertainment Group (BVI) Limited ("VREG BVI") is the parent holding company and the direct or indirect controlling member and/or shareholder of its Debtor subsidiaries. The Company is a leading independent producer and financier of major Hollywood motion pictures, having produced and released over 100 films since its inception in 1997. As a market-leading entertainment organization, the Company's affairs are complex. As of the Petition Date, the Debtors operated several different entities that were attached to two separate debt structures. The Company's primary assets are contractual rights and intellectual property related to motion picture films and television series. Shortly after commencing these Chapter 11 Cases, Solic launched the postpetition marketing process. This process was designed to build upon the prepetition efforts by marketing the Debtors' assets to an even broader group of potential buyers, which included the parties who were contacted prepetition and additional parties identified by the Debtors and their advisors. The expanded process included strategic and financial parties as well as distress-oriented investors who may be interested in the Debtors' intellectual property and fixed assets. On April 3, 2025, the Debtors received a letter proposal from Alcon Media Group, LLC setting forth a bid for the Library Assets, contingent upon being the new stalking horse bidder. As a result of the extensive good-faith negotiations, and in consultation with their other advisors, the Debtors determined that the Alcon Stalking Horse Bid for the Library Assets was the highest and best proposal received. On April 16, 2025, the Debtors filed a motion [Docket No. 197] (the "Stalking Horse Supplement") seeking entry of an order (a) modifying the relief requested in the Bid Procedures and Sale Motion, (b) approving (i) the designation of Alcon as the new stalking horse bidder for the Debtors' Library Assets, (ii) the Debtors' entry into an asset purchase agreement with Alcon setting forth the terms of the Alcon Stalking Horse Bid for the Library Assets ("Alcon Stalking Horse APA"), and (iii) an expense reimbursement provided to Alcon pursuant to the terms of the Alcon Stalking Horse APA, and (c) granting related relief. On July 23, 2025, the sale of the Library Assets to Alcon closed, and the Debtors filed the Notice of Library Assets Sale Closing. Pursuant to the Library Assets Sale Order, the Debtors applied the proceeds of the Library Assets sale: (a) first to the ABS Trustee for the indefeasible payment in full of the outstanding Prepetition ABS Obligations in accordance with the Prepetition ABS Agreements; (b) second, to each of the DIP Secured Parties, amounts necessary to indefeasibly satisfy all of the Debtors' obligations owed to such DIP Secured Party in full in accordance with the DIP Documents and the Final DIP Order; (c) third, to fund the Warner Bros. Reserve; (d) fourth, to fund the Library Reserve; and (e) fifth, to the Sellers. Class 3A consists of Library Debtors General Unsecured Claims. On the Effective Date, or as soon as reasonably practicable thereafter, all Allowed Library Debtors General Unsecured Claims, other than the Warner Bros. Claims, will be paid in full from the Library Reserve, unless the Holder of an Allowed Library Debtors General Unsecured Claim and the Debtors or the Liquidation Trustee, as applicable, agree to less favorable treatment for such Holder, in full and final satisfaction of its Allowed Library Debtors General Unsecured Claim. Once the Warner Bros. Claims have been determined by Final Order or by agreement of the parties and become Allowed (if at all, or in whole or in part), the Warner Bros. Claims will be paid in full in the Allowed amount, first from the Warner Bros. Reserve, and second, to the extent that the Warner Bros. Reserve is insufficient to satisfy the Warner Bros. Claims, from the Library Reserve. Class 3A is Unimpaired, and Holders of Library Debtors General Unsecured Claims are conclusively presumed to have accepted the Plan pursuant to section 1126(f) of the Bankruptcy Code. The allowed unsecured claims in Class 3A total $119,292,360. This Class will receive a distribution of 100% of their allowed claims. Class 3B consists of Non-Library Debtors General Unsecured Claims. On or prior to the Effective Date, the Debtors will fund the GUC Trust with the GUC Trust Amount and the GUC Trust Initial Funding Amount. Except to the extent that a Holder of an Allowed Non Library Debtors General Unsecured Claim and the Debtors or the Liquidation Trustee, as applicable, agree to less favorable treatment for such Holder, in full and final satisfaction of its Allowed Non-Library Debtors General Unsecured Claim, each Holder thereof will receive 85% of its Allowed Claim from the GUC Trust Net Amount; provided, for the avoidance of doubt, that if the value of the GUC Trust Net Amount exceeds the GUC Recovery, such excess amount shall be distributed to the Liquidation Trust for the sole and exclusive benefit of Holders of Senior Secured Notes Claims. Class 3B is Impaired, and Holders of Non-Library Debtors General Unsecured Claims are entitled to vote to accept or reject the Plan. The allowed unsecured claims total $8,579,606. This Class will receive a distribution of 85% of their allowed claims. On or after the Confirmation Date, the Debtors shall be authorized to take all actions as may be deemed necessary or appropriate to consummate any Sale Transactions pursuant to the terms of the Plan, the Sale Orders, any Sale Documents, and the Confirmation Order, and any such Sale Transactions shall be free and clear of any Liens, Claims, Interests, and encumbrances pursuant to sections 363 and 1123 of the Bankruptcy Code as of the earlier of (i) the closing date of such Sale Transaction and (ii) the Effective Date. On the Effective Date, the Debtors, on their own behalf and on behalf of the Liquidation Trust Beneficiaries, and the Liquidation Trustee shall execute the Liquidation Trust Agreement and take all other steps necessary to establish the Liquidation Trust pursuant to the Liquidation Trust Agreement. On the Effective Date, and in accordance with and pursuant to the terms of the Plan, the Debtors shall irrevocably transfer and shall be deemed to have irrevocably transferred to the Liquidation Trust all of their rights, title, and interests in all of the Liquidation Trust Assets and, in accordance with Section 1141 of the Bankruptcy Code, the Liquidation Trust Assets shall automatically vest in the Liquidation Trust free and clear of all Claims, Liens, encumbrances or interests, subject to the terms of the Liquidation Trust Agreement. Subject to the provisions of the Plan concerning the Professional Fee Reserve Account, the Debtors, the Liquidation Trustee or the GUC Trustee, as applicable, shall fund distributions under the Plan with Cash on hand on the Effective Date and the Debtors' other assets. A full-text copy of the Disclosure Statement dated January 29, 2026 is available at https://urlcurt.com/u?l=QeV72w from Kurtzman Carson Consultants, LLC, claims agent. About Village Roadshow Entertainment Group Village Roadshow Entertainment Group USA Inc. and its affiliates are a prominent independent producer and financier of major Hollywood films, having produced over 100 successful movies since 1997. Their portfolio includes globally recognized blockbusters such as "Joker," "The Great Gatsby," and the "Matrix" trilogy. Before the WB Arbitration, which began in 2022, the Company had a profitable and well-established co-production and co-financing partnership with Warner Bros. Entertainment Inc. and its affiliates ("WB"), resulting in many successful projects. The Debtor's most valuable assets include its Film Library and Derivative Rights, stemming from its extensive and enduring film industry presence. Village Roadshow Entertainment Group USA Inc. and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 25-10475) on March 17, 2025. In the petitions signed by Keith Maib, chief restructuring officer, the Debtors disclosed up to $500 million in estimated assets and up to $1 billion in estimated liabilities. Bankruptcy Judge Thomas M. Horan handles the cases. The Debtors tapped Young Conaway Stargatt & Taylor, LLP as local counsel; Sheppard, Mullin, Richter & Hampton LLP as bankruptcy counsel; Kirkland & Ellis LLP as special litigation counsel; Accordion Partners, LLC as financial and restructuring advisor; and Solic Capital Advisors, LLC as investment banker. Kurtzman Carson Consultants, LLC, doing business as Verita Global, is the Debtors' claims and noticing agent and administrative advisor. WELLMADE FLOOR: Seeks to Extend Plan Exclusivity to May 31 ---------------------------------------------------------- Wellmade Floor Coverings International, Inc., and Wellmade Industries MFR NA LLC asked the U.S. Bankruptcy Court for the Northern District of Georgia to extend their exclusivity periods to file a plan of reorganization and obtain acceptance thereof to May 31 and July 30, 2026, respectively. The Debtors explain that the Chapter 11 Cases are sufficiently complex to warrant the requested extension of the Exclusive Periods. There are several prepetition lawsuits pending against the Debtors, one of which is a class action suit. While the Debtors have reached the Contingent Settlement, additional steps are required before the settlement is fully consummated. The Debtors claim that they have used the past six month to resolve key litigation, conduct a private sale of substantially all of their assets, respond to formal and informal information requests from various parties, and negotiate and finalize the postpetition financing necessary to maintain operations during the Chapter 11 Cases. Thus, the Debtors submit that the complexity of the Chapter 11 Cases and the limited length of time the cases have been pending weigh in favor of granting the requested extension of the Exclusive Periods. Since the Petition Date, the Debtors and their professionals have focused much of their time, energy, and resources on administering the Chapter 11 Cases, finalizing a private sale of substantially all the Debtors' assets, and negotiating with vendors and other creditors, including the Committee and the Labor Plaintiffs. Extension of the Exclusive Periods will ensure that the Debtors have a full and fair opportunity to propose the Disclosure Statement and Plan as necessary without the distraction, cost, and delay of a competing plan process. The Debtors cite that the Contingent Settlement marks are huge step towards the resolution of these Chapter 11 Cases, as these claims and the contention relationship between the Debtors and the Labor Plaintiffs had consumed much of the Debtors' focus up to this point. Further, granting the requested extensions of the Exclusive Periods will not pressure the Debtors' creditors or grant the Debtors any unfair bargaining leverage. In fact, one main purpose of this extension is to allow the Debtors to finalize the Contingent Settlement. The Debtors assert that consideration received from the private sale will almost certainly be sufficient to pay the claims of all allowed creditors in full. The Contingent Settlement also contemplates a confirmable plan. Thus, the Debtors believe that that they have reasonable prospects for proposing, confirming, and consummating a Disclosure Statement and Plan. Accordingly, the Debtors believe that this factor weighs in favor of extending the Exclusive Periods. The Debtors further assert that termination of the Exclusive Periods, particularly at this stage of the Chapter 11 Cases, would adversely impact the Debtors' efforts to preserve and maximize the value of their estates and would further complicate the progression of the Chapter 11 Cases. Such termination may disincentivize creditors from negotiating with the Debtors. Moreover, the proposal and solicitation of any competing plan would greatly complicate and increase the cost of administering the Chapter 11 Cases, further justifying the requested extension of the Exclusive Periods. Finally, the Debtors have discussed the proposed extension of the Exclusive Periods with counsel to the Committee. The Committee's counsel has indicated that the Committee supports the proposed extension. Given that the Debtors' DIP Lender and prepetition lender have been paid in full, all major creditor constituents support the extension. Counsel to the Debtors: John D. Elrod, Esq. Allison J. McGregor, Greenberg Traurig, LLP 3333 Piedmont Road NE, Suite 2500 Atlanta, GA 30305 Telephone: 678-553-2259 Facsimile: 678-553-2269 Email: elrodj@gtlaw.com About Wellmade Floor Coverings Wellmade Floor Coverings International Inc. is a manufacturer and distributor of hard-surface flooring products, including bamboo, hardwood, and vinyl. The privately owned company is based in the United States, with a manufacturing facility in Cartersville, Georgia, and sales offices and a warehouse in Portland, Oregon. A non-debtor affiliate operates in China. The company and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Lead Case No. 25-58764) on August 4, 2025. In the petition, it reports estimated assets between $500 million and $100 million and $50 million. Honorable Bankruptcy Judge Sage M. Sigler handles the cases. The Debtors are represented by Greenberg Traurig, LLP. Kurtzman Carson Consultants, LLC d/b/a Verita Global is the Debtors' claims, noticing, solicitation and administrative agent. WESCO INT'L: Fitch Affirms 'BB+' LongTerm IDR, Outlook Stable ------------------------------------------------------------- Fitch Ratings has affirmed WESCO International, Inc.'s and WESCO Distribution, Inc.'s (collectively, WESCO) Long-Term Issuer Default Ratings (IDRs) at 'BB+' with a Stable Outlook. Fitch assigned 'BB+' ratings with a Recovery Rating of 'RR4' to WESCO's proposed senior unsecured notes. The proceeds will be used to refinance the note set to mature in June 2028. WESCO's senior unsecured notes have been affirmed at 'BB+'/'RR4', and ABL facility at 'BBB-'/'RR1'. The ratings reflect the company's scale, strong market position, end-market diversification, free cash flow (FCF) generation and financial flexibility. The ratings also reflect Fitch's expectation that WESCO will manage EBITDA leverage below 3.5x while executing its growth strategy, which includes tuck-in acquisitions and capitalizing on secular trends, despite near-term softness in utility customer spending. Key Rating Drivers Beneficiary of Secular Trends: Fitch expects WESCO to benefit from long-term secular trends including growth of data centers and AI, electrification, automation and grid modernization. Data centers accounted for 18% of the company's total sales in 2025 and are expected to help drive high-single-digit revenue growth in the Communication & Security Solutions business in 2026, while demand from utility customers is expected to recover in 2026. Long-term demand in industrial, non-residential construction, utilities and other end markets is expected to be robust. Fitch anticipates smaller bolt-on acquisitions will complement the company's growth profile, driving mid-single-digit revenue growth over the forecast period. Leading North American Market Position: Fitch believes WESCO's leading market position in the North American electrical and data communication distribution industry is supportive of the credit profile. The overall market remains highly fragmented, with few competitors holding meaningful market share. WESCO expects to benefit from further industry consolidation, with market share gains contributing to growth over the medium term. Fitch expects WESCO to further strengthen its market position and bolster its growth through bolt-on acquisitions. Fitch also believes it has competitive advantages, including operational leverage and increased market position defensibility through broad customer and supplier relationships. Financial Policy: Fitch believes WESCO's capital allocation will focus on growth, including mergers and acquisitions, and returning capital to shareholders. The company is expected to manage its EBITDA leverage between 3.0x and 3.5x while balancing these capital allocation priorities. Fitch believes WESCO has the capacity to deliver on its current net leverage target range of 1.5x to 2.5x as EBITDA recovers and it uses FCF to pay down its asset-based loan (ABL) and accounts receivable (AR) securitization facility. Healthy FCF Margin: Fitch expects FCF margins in the low single digits through the forecast period. WESCO is guiding for FCF of $500 million to $800 million in 2026. WESCO has historically generated stable and strong FCF, which Fitch views as a positive credit driver. Cash generation is typically countercyclical for distributors as they have the flexibility to unload inventory while scaling back purchases in downturns. Diversified Business Profile: WESCO serves a balanced mix of end markets including industrial, construction, utilities and data communications. The company's diversification helps offset the cyclicality of its end markets and its exposure to residential construction is minimal. In addition, WESCO has well-diversified product lines, suppliers and customers. The company has almost 130,000 customers with its top 10 customers accounting for 15% of 2025 sales. Peer Analysis WESCO has an operating profile similar to IT-focused distributors such as Avnet, Inc. (Avnet; BBB-/Negative), Ingram Micro Inc. (BB/Stable) and Arrow Electronics, Inc. (Arrow; BBB-/Stable), with EBITDA margins in the mid- to high- single digits and countercyclical FCF. The company has successfully deleveraged, mainly through EBITDA growth, following the integration of Anixter, Inc., but leverage remains higher than Avnet's and Arrow's. Compared with more industrial-focused distributors, WESCO has greater scale, lower profitability margins and comparable end-market cyclicality. Fitch’s Key Rating-Case Assumptions - Mid-single-digit revenue growth as WESCO benefits from secular trends and bolt-on acquisitions; - EBITDA margins sustained at about 7%; - Common stock dividends of about $90 million to $100 million through the forecast period with excess capital returned to shareholders though share repurchases; - FCF margins in the low-single-digits over the forecast period; - Effective interest rate of about 6% through forecast horizon. Corporate Rating Tool Inputs and Scores Fitch scored the issuer as follows, using its Corporate Rating Tool (CRT) to produce the Standalone Credit Profile (SCP): - Business and financial profile factors (assessment, relative importance): Management (bbb-, Lower), Sector Characteristics (bbb-, Moderate), Market and Competitive Positioning (bbb, Higher), Diversification and Asset Quality (bbb, Moderate), Company Operational Characteristics (bb, Moderate), Profitability (bb-, Moderate), Financial Structure (bb+, Higher), and Financial Flexibility (bbb-, Moderate). - The quantitative financial subfactors are based on custom CRT financial period parameters: 20% weight for the forecast year 2025, 40% for the forecast year 2026 and 40% for the forecast year 2027. - The Governance assessment of 'Good' results in no adjustment. - The Operating Environment assessment of 'aa-' results in no adjustment. - The SCP is 'bb+'. To derive the IDR: - No adjustments were made to SCP, resulting in an IDR of 'BB+'. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - A less conservative policy leading to EBITDA leverage sustained above 3.5x; - A deterioration in the operating profile or working capital management leading to heightened variability or a sustained contraction in FCF margins; - An inability to implement or execute on management strategy leading to a deterioration in the operating profile, higher costs, or loss of market share. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - Commitment to a conservative financial and capital allocation policy leading to EBITDA leverage sustained below 3.0x, along with a debt structure consisting mostly of unsecured debt. Liquidity and Debt Structure As of Dec. 31, 2025, WESCO had total liquidity of approximately $1.6 billion comprising $282 million of available cash, $1.1 billion of revolver availability, net of borrowings, letters of credit and borrowing base reserves, and $250 million of availability under its receivables facility. WESCO's debt structure as of Dec. 31, 2025 consists of $581 million outstanding on the revolving ABL facility, $1,300 million outstanding on its AR securitization facility and $3.9 billion of senior unsecured notes. Issuer Profile WESCO International is a global distributor of electrical and communications products and a provider of logistics and supply chain services. MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS Fitch's latest quarterly Global Corporates Sector Forecasts Monitor data file which aggregates key data points used in its credit analysis. Fitch's macroeconomic forecasts, commodity price assumptions, default rate forecasts, sector key performance indicators and sector-level forecasts are among the data items included. Climate Vulnerability Signals The results of its Climate.VS screener did not indicate an elevated risk for Wesco. ESG Considerations The highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. Entity/Debt Rating Recovery Prior ----------- ------ -------- ----- WESCO Distribution, Inc. LT IDR BB+ Affirmed BB+ senior unsecured LT BB+ New Rating RR4 senior secured LT BBB- Affirmed RR1 BBB- senior unsecured LT BB+ Affirmed RR4 BB+ WESCO International, Inc. LT IDR BB+ Affirmed BB+ WHITE ROCK MEDICAL: Gets Extension to Use Cash Collateral --------------------------------------------------------- White Rock Medical Center, LLC received another extension from the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, to use cash collateral. At the recently held hearing, the court authorized the Debtor's interim use of cash collateral and set a final hearing for March 31. The Debtor was previously allowed to use the cash collateral of SRC Hospital Investments I, LLC, a secured lender, under the court's Feb. 17 second interim order. The second interim order granted SRC protection through replacement liens on post-petition assets and superpriority administrative expense claims. It authorized cash payments of $50,000 for February and monthly payments of $50,000 starting this month until a final order is entered. About White Rock Medical Center LLC White Rock Medical Center, LLC operates a healthcare facility providing medical and hospital services to patients in Texas. White Rock Medical Center sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-90115) on January 20, 2026. In its petition, the Debtor reports estimated assets ranging from $10 million to $50 million and estimated liabilities between $50 million and $100 million. Honorable Bankruptcy Judge Christopher M. Lopez handles the case. The Debtor is represented by Omar Jesus Alaniz, Esq., at Reed Smith, LLP. WOODCREST CONDOMINIUMS: Seeks to Extend Plan Exclusivity to June 1 ------------------------------------------------------------------ Woodcrest Condominiums IX, LLC, asked the U.S. Bankruptcy Court for the District of Columbia to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to June 1 and August 1, 2026, respectively. The Debtor is a limited liability company formed under the laws of the District of Columbia, which owns three condominium units (the "Condo Units") located on Woodcrest Drive SE, Washington, DC 20032. The Condo Units are part of a larger condominium development known as Woodcrest Villas. The Condo Units are the Debtors' primary assets, and the proceeds from the sale of the Condo Units represent the Debtors' primary source of cash for funding its operations and administrative expenses incurred during the Bankruptcy Case. Welch Family Limited Partnership Five holds a disputed lien against the Condo Units. The Debtor filed an adversary proceeding against Welch seeking to, among other things, determine that the Welch lien is invalid, which adversary proceeding is pending and has yet to be adjudicated. The Debtor explains that the pendency of the disputed liens asserted by Welch and extensive litigation with Welch has made this case complex, although this is not a large case. The Debtor has worked expeditiously to position the disputed issues before the Court for determination. The Debtor believes it is prudent to preserve its exclusive right to file a plan while it works through the issues relating to the liens on and the sale of the Condo Units. The amount of time that the Debtor is requesting is modest and is in line with this Court's extension of exclusive periods in similar cases. The Debtor believes that good cause exists to grant the Motion and extend the Debtor's Exclusive Periods to file a proposed plan and solicit acceptances thereto. Woodcrest Condominiums IX LLC is represented by: Brent C. Strickland, Esq. Whiteford, Taylor & Preston L.L.P. 8830 Stanford Blvd., Suite 400 Columbia, Maryland 21045 Phone: (410) 347-9402 Facsimile: (410) 223-4302 Email: bstrickland@whitefordlaw.com Joshua D. Stiff, Esq. Whiteford, Taylor & Preston, L.L.P. 249 Central Park Avenue, Suite 300 Virginia Beach, VA 23462 Telephone: (757) 271-9751 Facsimile: (757) 271-9736 Email: jstiff@whitefordlaw.com About Woodcrest Condominiums IX LLC Woodcrest Condominiums IX LLC is a residential real estate company that appears to develop or manage condominium properties in Washington, DC, operating under the Woodcrest Villas brand. The company maintains its principal place of business at 454-460 Woodcrest Drive SE in Washington, DC, with its primary operations in residential building construction as indicated by its NAICS code 2361. Woodcrest Condominiums IX LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.D.C. Case No. 25-00265) on July 9, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Judge Elizabeth L. Gunn oversees the case. The Debtors are represented by Brent C. Strickland, Esq. at Whiteford Taylor & Preston L.L.P. WSFOUR-55 INC: Case Summary & Three Unsecured Creditors ------------------------------------------------------- Debtor: Wsfour-55, Inc. 14508 Nordhoff St. Panorama City, CA 91402 Case No.: 26-10405 Business Description: Wsfour-55, Inc., based in Panorama City, California, operates as a franchisee of the Wingstop restaurant brand, running one location under the Wingstop franchising system. It manages day-to-day quick-service chicken wing restaurant operations in compliance with franchisor standards. The company is part of the food service and restaurant franchise industry, specifically the fast-casual segment. Chapter 11 Petition Date: February 27, 2026 Court: United States Bankruptcy Court Central District of California Judge: TBD Debtor's Counsel: Stella Havkin, Esq. STELLA HAVKIN 21650 Oxnard, Suite 1540 Woodland Hills, CA 91367 Email: shavkinesq@gmail.com Total Assets: $603,934 Total Liabilities: $1,385,606 The petition was signed by Mia Boykin Ulutika as vice president. A full-text copy of the petition, which includes a list of the Debtor's three unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/KW76DTI/Wsfour-55_Inc__cacbke-26-10405__0001.0.pdf?mcid=tGE4TAMA WYNDHAM HOTEL: Fitch Rates New $650MM Unsec. Notes Due 2033 'BB+' ----------------------------------------------------------------- Fitch Ratings has assigned a 'BB+' rating with a Recovery Rating of 'RR4' to Wyndham Hotels & Resorts Inc.'s (WH) proposed $650 million senior unsecured notes due 2033. Proceeds will be used to prepay its existing term loan due 2027, repay outstanding revolving credit facility borrowings, and provide cash to the balance sheet. Fitch expects WH's EBITDA leverage to remain at or below 4.0x in the forecast period through 2028. Despite continued near-term headwinds in revenue per available room (RevPAR), Fitch forecasts continued EBITDA growth driven by steady room growth and growth in ancillary revenue. WH's room growth is reinforced by an extensive development pipeline. In addition, WH's strong free cash flow position should enable it to continue investing in the business and return capital to shareholders. Key Rating Drivers RevPAR Weakness Downmarket: The U.S. continues to see a bifurcation in RevPAR trends, with the Upper Upscale and Luxury segments experiencing modest growth, while Economy and Midscale remain under pressure. This is primarily because higher-scale-chain hotels are better able to drive price, as all chain scales are seeing similar occupancy trends. WH's offerings are primarily in the select-service segment, which is subject to higher cost sensitivity among cost-conscious travelers. Wyndham's exposure to the lower chain scales has contributed to its underperformance relative to Fitch-rated peers, which tend to have a stronger presence in the Upper Upscale and Luxury segments. The ongoing softness in RevPAR at the lower end of the market has weighed on Wyndham's overall performance. Despite this softness, continued system growth supported by a strong pipeline have mitigated underperformance. Pipeline Supports Market Position: WH is the largest franchisor by franchised hotels worldwide and has an extensive development pipeline of 259,000 rooms. About 58% of the pipeline comprises international rooms across 63 countries. Midscale and above-tier categories represent 70% of the pipeline, highlighting WH's focus on diversifying across high-margin franchise segments. WH has increased its capital outlay with development advance notes, which are made to owners and amortized over the life of the franchise agreement. Fitch regards the notes as a capital commitment to attract owners and boost room count. The notes made up $343 million of WH's balance sheet in 4Q25, up from $144 million in 2022. WH has guided $110 million in development note spend for the full year 2026. Fitch expects it to spend at this level in the medium term. Strong Net Room Growth: WH's margins remain strong, supported by its expanding portfolio of more than 869,000 rooms across 25 brands. The company's select-service, franchise focus emphasizes cost efficiencies and higher margins compared to its peers, while its owner-first approach prioritizes investment in technology to optimize market share. WH's high retention-rates contribute to ongoing net room growth, which Fitch forecasts to grow at 4.0% in 2026 (excluding any impact from Revo). Capital Return Prioritized: Fitch expects WH to continue to prioritize shareholder returns through repurchases and dividends as it has a high incentive to buy back shares from management's sentiment around stock undervaluation. As of 4Q25, WH had $274 million availability under its share repurchase program. Fitch expects capital allocation to be funded through a mix of free cash flow and additional financing while managing its capital structure in accordance with a net leverage policy of 3x-4x, leaving headroom to lever for capital return. Peer Analysis WH's rating reflects its diversification across brands, geographies and offerings relative to peers. Its system size of 869,000 rooms, development pipeline of 259,000 rooms and loyalty program of over 122 million members as of 4Q25, trails industry leaders like Hilton Hotels & Resorts (not rated) and Marriott International (not rated), which have system sizes of over 1 million, development pipelines roughly double that of WH and loyalty reward programs with over 150 million members. However, WH tracks ahead of Hyatt Hotels Corporation (BBB-/Stable) and Accor S.A. (BBB-/Positive), with a larger total room count and pipeline size. WH is predominately exposed to lower chain scales, while Hilton, Accor, and Marriott offer brands across most chain scales and Hyatt focuses on high-end offerings. WH has lower top-line revenue than its lodging peers but leads in EBITDA margins. The asset-light business structure is fully franchised compared with its lodging peers, which have a small percentage of owned, leased and managed portfolios. The focus on franchise revenue streams in the select-service space allows for lower operating costs and cash flow volatility. WH's stated financial policy of 3.0x-4.0x net leverage is wider in range relative to Marriott (3x-3.5x gross leverage), Hilton (3x-3.5x net leverage), Accor (less than 3.0x net leverage) and Hyatt (3x-3.5x net leverage). Like Hilton, Fitch expects WH to use capital return to manage leverage in lieu of accretive deals. Fitch’s Key Rating-Case Assumptions - Base interest rates for WH's outstanding variable rate debt obligations are aligned with the current secured overnight financing rate (SOFR) forward curve; - RevPAR declines 1% in 2026, followed by 0% to 1% growth thereafter; - EBITDA margin is around 79% to 81% throughout the forecast period, with adjustments for cost reimbursements and marketing, reservation and loyalty line items; - Annual net room growth remains at 4.0% in 2026 and 3% thereafter; - About $110 million in development advance notes per annum; - Capex stays at 5% of revenue throughout the forecast horizon; - The dividend payout ratio remains between 35% and 40% throughout the forecast period; - Annual share repurchases of $300 million through the forecast period; - EBITDA leverage is between 3.7x and 3.9x throughout the forecast period. Corporate Rating Tool Inputs and Scores Fitch scored the issuer as follows, using its Corporate Rating Tool (CRT) to produce the Standalone Credit Profile (SCP): - Business and financial profile factors (assessment, relative importance): Management (bb+, Higher), Sector Characteristics (bbb, Moderate), Market & Competitive Positioning (bb+, Moderate), Diversification and Asset Quality (bbb-, Moderate), Company Operational Characteristics (bb-, Higher), Profitability (a+, Moderate), Financial Structure (bbb-, Higher), and Financial Flexibility (a-, Moderate). - The quantitative financial subfactors are based on standard CRT financial period parameters: 20% weight for the latest historical year 2024, 40% for the forecast year 2025 and 40% for the forecast year 2026. - The Governance Impact assessment of 'Good' results in no adjustment. - The Operating Environment Impact assessment of 'a+' results in no adjustment. - The SCP is 'bb+'. To derive the IDR: - No adjustments made to SCP, resulting in an IDR of 'BB+'. Recovery Analysis Fitch applies the generic approach for issuers in the 'BB' rating category, aligning the Issuer Default Rating (IDR) and unsecured debt instrument ratings when average recovery prospects are expected, according to its "Corporates Recovery Ratings and Instrument Ratings Criteria". Issuers rated 'BB-' and above are considered too distant from default to conduct a credible default scenario analysis, which would likely result in Recovery Ratings (RRs) that are too high across all instruments. Where a RR is assigned, the generic approach considers the relative instrument rankings and their recoveries, along with the higher enterprise valuation associated with 'BB' ratings for the most senior instruments. Fitch classifies WH's revolving credit facility and its proposed senior secured term loan as Category 1. Considering its IDR of 'BB+', the Category 1 first lien senior secured debt is notched one level to 'BBB-'/'RR1'. The unsecured debt is equalized at 'BB+'/'RR4'. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - Fitch's expectations for EBITDA leverage being sustained above 4.25x, potentially through a change in WH's long-term financial policies; - A deterioration in WH's brand and franchise strength, resulting in below-average performance, loss of management contracts or system room loss; - Weakening of operating EBITDA margin due to unsustainable cost structure initiatives; - A material reduction in liquidity that challenges refinancing ability and leads to higher cost of debt or reliance on secured borrowings. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - Fitch's expectations of EBITDA leverage being sustained below 3.25x; - Sustained EBITDA margin strength; - A tightened company-stated leverage policy with an exhibited clear commitment; - Demonstrated lower cash flow volatility through the cycle relative to peers; - Enhanced scale and portfolio diversification by geography and segment offerings. Liquidity and Debt Structure WH had about $64 million in cash on hand as of Dec. 31, 2025, and $776 million available on its $1 billion revolving credit facility. The revolving credit facility will be fully available upon close of the transaction, when the outstanding amount is repaid. Its next meaningful maturity is in 2028, when the $500 million senior unsecured notes are due. Fitch expects WH to use excess free cash flow to return capital to shareholders through share repurchases and dividends, which should limit deleveraging and help keep leverage within management's target. This capital allocation could shift toward acquisitions if attractive opportunities arise. Issuer Profile WH, the world's largest hotel franchising company by number of franchised hotels, has approximately 8,300 affiliated hotels across ~100 countries. WH's network of over 869,000 rooms commands a leading presence in the economy and midscale segments of the lodging industry. Summary of Financial Adjustments Fitch excludes marketing, reservation, and loyalty costs, along with revenues and cost reimbursements, from its calculations of both revenue and EBITDA. These costs encompass expenses related to promoting and advertising the company's services, managing booking systems and platforms for customer reservations, and maintaining customer loyalty programs, including rewards and incentives to encourage repeat business. The revenues and associated expenses are considered equivalent, meaning they generally match in amount, with any differences resulting from timing discrepancies. This equivalence implies that the revenue generated from these activities is offset by the costs incurred, often leading to large figures that can skew the perception of growth and margins. By excluding these elements, Fitch aims to more accurately reflect the issuer's true financial profile. Date of Relevant Committee 30-Jan-2026 MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS Fitch's latest quarterly Global Corporates Sector Forecasts Monitor data file which aggregates key data points used in its credit analysis. Fitch's macroeconomic forecasts, commodity price assumptions, default rate forecasts, sector key performance indicators and sector-level forecasts are among the data items included. Climate Vulnerability Signals The results of its Climate.VS screener did not indicate an elevated risk for Wyndham Hotels & Resorts Inc. ESG Considerations The highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. Entity/Debt Rating Recovery ----------- ------ -------- Wyndham Hotels & Resorts Inc. senior unsecured LT BB+ New Rating RR4 ZAHAV 3310: Hires Century 21 Jim White as Real Estate Broker ------------------------------------------------------------ Zahav 3310 W Beaumont Street LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to hire Century 21 Jim White & Associates, Inc. as real estate broker. The firm will market and sell the Debtor's property locate at located at 5212 62nd Avenue South, St. Petersburg, Florida. Century has agreed to be compensated through a 3% commission on the purchase price for the property. As disclosed in the court filings, the broker neither holds nor represents any interests adverse to the Debtor's estate and is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code. The broker can be reached through: Dania Perry Century 21 Jim White & Associates, Inc. 10645 Gulf Boulevard Treasure Island, FL 33706 Mobile: (727) 215-2045 mobile Office: (727) 367-3795 (727) 367-3795 About Zahav 3310 W Beaumont Street LLC Zahav 3310 W Beaumont Street LLC is a single-asset real estate entity that provides property management, real estate appraisal, and related support services. Zahav 3310 W Beaumont Street LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. 26-45902) on December 9, 2025, listing $1 million to $10 million in both assets and liabilities. The petition was signed by Davit Sitt as member. Judge Jil Mazer-Marino presides over the case. Gary Kushner, Esq. at GOETZ PLATZER LLP presides over the case. [] Fitch Affirms Ratings on Seven North American Airline Companies ------------------------------------------------------------------ Fitch Ratings has affirmed seven North American airline companies' ratings: 1. Southwest Airlines Co. 2. Delta Air Lines, Inc. 3. Alaska Air Group Inc. 4. Air Canada 5. American Airlines Group Inc. 6. WestJet 7. JetBlue Airways Corporation These actions follow the update of Fitch's "Corporate Rating Criteria" and the "Sector Navigators Addendum to the Corporate Rating Criteria" on Jan. 9, 2026. The companies' ratings and Ratings Outlooks were unaffected by the criteria changes. Corporate Rating Tool Inputs and Scores Fitch scored the issuers as follows, using its Corporate Rating Tool (CRT) to produce the Standalone Credit Profile (SCP): Southwest Airlines Co. - Business and financial profile factors (assessment, relative importance): Management (bbb, Lower), Sector Characteristics (bbb-, Lower), Market and Competitive Positioning (bbb, Moderate), Diversification and Asset Quality (bbb+, Higher), Company Operational Characteristics (bbb, Moderate), Profitability (b+, Moderate), Financial Structure (bbb+, Higher), and Financial Flexibility (bbb+, Higher). - The quantitative financial subfactors are based on custom CRT financial period parameters: 20% weight for the forecast year 2025, 40% for the forecast year 2026, 20% for the forecast year 2027 and 20% for the forecast year 2028. - The Governance Impact assessment of 'Good' results in no adjustment. - The Operating Environment Impact assessment of 'aa-' results in no adjustment. - The calibration adjustment applies and results in an adjustment of 1 notch(es). - The SCP is 'bbb+'. To derive the IDR: - Fitch has made no adjustment to the SCP resulting in an IDR of 'BBB+'. Delta Air Lines, Inc. - Business and financial profile factors (assessment, relative importance): Management (bbb+, Lower), Sector Characteristics (bbb, Moderate), Market and Competitive Positioning (bbb, Moderate), Diversification and Asset Quality (bbb+, Higher), Company Operational Characteristics (bb, Moderate), Profitability (bb+, Moderate), Financial Structure (bbb, Higher), and Financial Flexibility (bb+, Higher). - The quantitative financial subfactors are based on standard CRT financial period parameters: 20% weight for the latest historical year 2024, 40% for the forecast year 2025 and 40% for the forecast year 2026. - The Governance Impact assessment of 'Good' results in no adjustment. - The Operating Environment Impact assessment of 'aa-' results in no adjustment. - The SCP is 'bbb-'. To derive the IDR: - Fitch has made no adjustment to the SCP resulting in an IDR of 'BBB-'. Alaska Air Group Inc. - Business and financial profile factors (assessment, relative importance): Management (bbb-, Lower), Sector Characteristics (bb+, Moderate), Market and Competitive Positioning (bb, Moderate), Diversification and Asset Quality (bb+, Higher), Company Operational Characteristics (bb+, Moderate), Profitability (bb-, Moderate), Financial Structure (bb-, Moderate), and Financial Flexibility (bbb-, Higher). - The quantitative financial subfactors are based on custom CRT financial period parameters: 20% weight for the historical year 2024, 10% for the forecast year 2025, 35% for the forecast year 2026 and 35% for the forecast year 2027. - The Governance assessment of 'Good' results in no adjustment. - The Operating Environment assessment of 'aa-' results in no adjustment. - The SCP is 'bb+'. To derive the IDR: - Application of Fitch's Parent Subsidiary Linkage Rating Criteria results in an equalized approach. The IDR is 'BB+'. Air Canada - Business and financial profile factors (assessment, relative importance): Management (bbb, Lower), Sector Characteristics (bb+, Moderate), Market and Competitive Positioning (bb+, Moderate), Diversification and Asset Quality (bbb, Moderate), Company Operational Characteristics (bb, Moderate), Profitability (bb-, Moderate), Financial Structure (bb-, Higher), and Financial Flexibility (bb+, Higher). - The quantitative financial subfactors are based on standard CRT financial period parameters: 20% weight for the latest historical year 2024, 40% for the forecast year 2025 and 40% for the forecast year 2026. - The Governance Impact assessment of 'Good' results in no adjustment. - The Operating Environment Impact assessment of 'aa-' results in no adjustment. - The SCP is 'bb'. To derive the IDR: - Fitch has made no adjustments to the SCP resulting in an IDR of 'BB'. American Airlines Group Inc. - Business and financial profile factors (assessment, relative importance): Management (bbb-, Lower), Sector Characteristics (bbb-, Moderate), Market and Competitive Positioning (bb+, Moderate), Diversification and Asset Quality (bbb, Moderate), Company Operational Characteristics (bb, Moderate), Profitability (b+, Moderate), Financial Structure (b-, Higher), and Financial Flexibility (bb, Higher). - The quantitative financial subfactors are based on standard CRT financial period parameters: 20% weight for the latest historical year 2024, 40% for the forecast year 2025 and 40% for the forecast year 2026. - B+ to CC considerations apply in its analysis and result in no adjustment. - The Governance Impact assessment of 'Good' results in no adjustment. - The Operating Environment Impact assessment of 'aa-' results in no adjustment. - The SCP is 'b+'. To derive the IDR: - Fitch has made no adjustments to the SCP resulting in an IDR of 'B+'. WestJet - Business and financial profile factors (assessment, relative importance): Management (bb+, Lower), Sector Characteristics (bb-, Moderate), Market and Competitive Positioning (bb+, Moderate), Diversification and Asset Quality (bb, Moderate), Company Operational Characteristics (bb, Moderate), Profitability (b, Moderate), Financial Structure (b-, Higher), and Financial Flexibility (b-, Higher). - The quantitative financial subfactors are based on custom CRT financial period parameters: 20% weight for the historical year 2024, 20% for the forecast year 2025, 40% for the forecast year 2026 and 20% for the forecast year 2027. - B+ to CC considerations apply in its analysis and result in no adjustment. - The Governance assessment of 'Good' results in no adjustment. - The Operating Environment assessment of 'aa-' results in no adjustment. - The SCP is 'b'. To derive the IDR: - Fitch has made no adjustments to the SCP resulting in an IDR of 'B'. JetBlue Airways Corporation - Business and financial profile factors (assessment, relative importance): Management (bb, Lower), Sector Characteristics (bb, Moderate), Market and Competitive Positioning (bb-, Moderate), Diversification and Asset Quality (bb-, Moderate), Company Operational Characteristics (bb, Moderate), Profitability (ccc+, Higher), Financial Structure (ccc-, Moderate), and Financial Flexibility (bb-, Higher). - The quantitative financial subfactors are based on custom CRT financial period parameters: 20% weight for the historical year 2024, 10% for the forecast year 2025, 40% for the forecast year 2026 and 30% for the forecast year 2027. - B+ to CC considerations apply in its analysis and result in no adjustment. - The Governance assessment of 'Good' results in no adjustment. - The Operating Environment assessment of 'aa-' results in no adjustment. - The SCP is 'b-'. To derive the IDR: - Fitch has made no adjustments to the SCP, resulting in an IDR of 'B-'. RATING ACTIONS Entity/Debt Rating Recovery Prior ----------- ------ -------- ----- Southwest Airlines Co. LT IDR BBB+ Affirmed BBB+ senior unsecured LT BBB+ Affirmed BBB+ Delta Air Lines, Inc. LT IDR BBB- Affirmed BBB- senior unsecured LT BBB- Affirmed BBB- senior unsecured LT BBB Affirmed BBB Alaska Air Group Inc. LT IDR BB+ Affirmed BB+ AS Mileage Plan IP Ltd. senior secured LT BBB- Affirmed BBB- Hawaiian Holdings, Inc. LT IDR BB+ Affirmed BB+ Hawaiian Airlines, Inc. LT IDR BB+ Affirmed BB+ Air Canada LT IDR BB Affirmed BB senior secured LT BB+ Affirmed RR2 BB+ American Airlines Group Inc. LT IDR B+ Affirmed B+ American Airlines, Inc. LT IDR B+ Affirmed B+ senior secured LT BB Affirmed RR2 BB senior secured LT B+ Affirmed RR4 B+ AAdvantage Loyalty IP Ltd. senior secured LT BB+ Affirmed RR1 BB+ WestJet LT IDR B Affirmed B senior secured LT BB- Affirmed RR2 BB- WestJet Airlines Ltd. LT IDR B Affirmed B senior secured LT BB- Affirmed RR2 BB- WestJet Loyalty LP senior secured LT BB- Affirmed RR2 BB- JetBlue Airways Corporation LT IDR B- Affirmed B- senior secured LT B+ Affirmed RR2 B+ JetBlue Loyalty, LP senior secured LT B+ Affirmed RR2 B+ [] Maine Camping Resort Up for Sale on March 5 ---------------------------------------------- Keenan Auctions Co. Inc. will hold a real estate foreclosure auction on March 15, 2026, at 1:00 p.m., on site at 277 Mills Road, Route 9, for the sale of Sandy Pines Campground in Kennbunkort, Maine. For complete terms and a property information package visit https://keenanauction.com or call (207) 885-5100 and request by auction #26-12. Richard J. Keenan #236. Our 54th Year and 8.853rd Auction. Keenan Auction can be reached at: Keenan Auction Co. Inc. 2063 Congress Street Portland, ME 04102 Tel: (207) 885-5100 Email: info@keenanauction.com [] Total U.S. Bankruptcy Filings Up 14% in February 2026 -------------------------------------------------------- Small business filings, captured as Subchapter V elections within Chapter 11, increased 91% in February 2026 to 314, up from 164 the previous year, according to data provided by Epiq AACER, the leading provider of US bankruptcy filing data. Commercial Chapter 11 bankruptcy filings increased 67% in February 2026, with 814 filings increasing from 487 filings in February 2025. February's commercial Chapter 11 total reflects many related filings tied to a few sizeable commercial Chapter 11 proceedings. Total February commercial filings increased 21% to 2666 from the 2200 commercial filings in February 2025. "The significant increases in Subchapter V elections reflect the reality that many small businesses are operating in a challenging environment with higher borrowing costs, softening client demand, and tighter lending standards," said Michael Hunter, Vice President of Epiq AACER. "At the same time, households are managing rising credit card and auto delinquencies, increasing foreclosure starts, and higher mortgage delinquency rates. This is particularly true within the Federal Housing Administration and Government National Mortgage Association segment. "Layer in ongoing geopolitical uncertainty, return of pre-pandemic normalized filer volumes, and the expiration of Covid-era forbearance plans and stimulus, it's clear why small--business restructurings and individual filings continue to increase compared to last year." Total bankruptcy filings were 45,891 in February 2026, a 14% increase from the 40,304 in February 2025. Individual bankruptcy filings increased 13% in February to 43,225, up from the February 2025 individual filing total of 38,104. There were 26,677 individual Chapter 7 filings in February 2026, a 17% increase over the 22,891 filings recorded in February 2025. Individual Chapter 13 filings in February 2026 totaled 16,437, a 9% increase from 15,132 last February. "Subchapter V filings have grown for eight consecutive months amid inflation, high interest rates, tightening credit, and geopolitical headwinds," said Amy Quackenboss, Executive Director at ABI. "The streamlined process of Subchapter V provides struggling small businesses with the opportunity to restructure and preserve jobs in a challenging economy." Even with one less business day and storm-related shutdowns in the Northeast, many February bankruptcy categories still equaled or exceeded January's totals. The large number of Subchapter V elections within Chapter 11 represented a 23% increase over January's 255 filings. Conversely, overall commercial filings decreased 7% from the previous month's total of 2856, and total Chapter 11s dropped 15% from January's 957 total. This was due in large part to an increase in related Chapter 11 case filings in January. Total bankruptcies registered a small increase of 0.2% when compared to the January 2025 filing total of 45,815, and individual bankruptcies increased 1% from the 42,959 filings the previous month. Individual Chapter 7 filings increased 3% from January's total of 25,803, while Chapter 13 filings fell 4% from the 17,045 filings recorded the previous month. ABI has partnered with Epiq Bankruptcy to provide the most current bankruptcy filing data for analysts, researchers, and members of the news media. Epiq Bankruptcy is the leading provider of data, technology, and services for companies operating in the business of bankruptcy. 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