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260417.mbx T R O U B L E D C O M P A N Y R E P O R T E R Friday, April 17, 2026, Vol. 30, No. 107 Headlines 307 COLLISION: Gets Final OK to Use Cash Collateral 4US CORP: Court Extends Cash Collateral Access to April 24 A&M AUTOBODY: Gets Interim OK to Use Cash Collateral ABA THERAPY: Case Summary & Five Unsecured Creditors ALEON METALS: Court Confirms Joint Plan of Liquidation ALL STAR: Amends Reno Property Sale to Javelin Ventures ALLEN WALNUT: Commences Chapter 11 Bankruptcy in West Virginia AMBAR TRANSPORTATION: Gerard Luckman Named Subchapter V Trustee AMIREPAIR I INC: Voluntary Chapter 11 Case Summary ANNE M. CUMMINGS: Court Values Real Property at $1,735,000 AON STUDIOS: Case Summary & Eight Unsecured Creditors ARCADIA BIOSCIENCES: Dismisses Deloitte & Touche, Appoints RJI CPAs ASBESTOS CORP: Claims Bar Date Set for September 10 ASSOCIATION OF APARTMENT: Gets Extension to Access Cash Collateral ATW HEALTH: Voluntary Chapter 11 Case Summary AUTOLYCUS LLC: Court OKs BMO Collateral to LH Management AYURCANN HOLDINGS: Emblem Selected Successful Bidder in CCAA Sale BALLAST DESIGN: Todd Hennings Named Subchapter V Trustee BARTRAM LOGISTICS: Gets Extension to Access Cash Collateral BELLA FAMILY: Gets Interim OK to Use Cash Collateral BORDEN DAIRY: Court Dismisses Donaldson Case with Prejudice BOSTIC ENTERPRISE: Files Emergency Bid to Use Cash Collateral BRANAVA INC: Gets Interim OK to Use Cash Collateral Until June 4 BRAND ARMY: Gets Final OK to Use Cash Collateral BY HOTEL: Gets Interim OK to Use Cash Collateral C & C SECURITY: Case Summary & 20 Largest Unsecured Creditors CAPSTONE GREEN: Monarch Alternative Holds 42.1% Voting Common Stock CARPENTER FAMILY: Plan Exclusivity Period Extended to May 11 CASKATA INC: Seeks Cash Collateral Access CHANNEL OP: Case Summary & 12 Unsecured Creditors CHARLES & COLVARD: Bankr. Administrator Cannot Appoint Committee CHINO CENTRAL: U.S. Trustee Unable to Appoint Committee CHIRON COMMUNICATION: Case Summary & 20 Top Unsecured Creditors CLAY STREET: Business Operations & Sale Proceeds to Fund Plan CLEANCO CARPET: Gets Final OK to Use Cash Collateral CN HOLDINGS: Seeks Cash Collateral Access CNY SEALCOATING: Gets Final OK to Use Cash Collateral COMMUNITY AUTOMOTIVE: Seeks Interim Cash Collateral Access CUMULUS MEDIA: Bankruptcy Court Approves Plan of Reorganization CYCLERION THERAPEUTICS: Reports $3.5 Million Net Loss for 2025 DAVENN LLC: Gets Final OK to Use Cash Collateral DAVID SCOTT: Files Emergency Bid to Use Cash Collateral DAY TRANSLATIONS: Gets Extension to Access Cash Collateral DELANI CONSTRUCTION: Court Extends Cash Collateral Access to May 31 DELLA RAGIONE: Gets Interim OK to Use Cash Collateral DENVER SPRING: Kevin Neiman Named Subchapter V Trustee DHS MANAGEMENT: Commences Chapter 11 Bankruptcy in California DISCOVER CHIROPRACTIC: Seeks Cash Collateral Access DTD PRECISION: Files Emergency Bid to Use Cash Collateral DVM PROPERTIES: Starts Chapter 11 Bankruptcy in Oklahoma DYNACQ HEALTHCARE: Seeks to Extend Plan Exclusivity to July 6 E&M BINDERY: Court Extends Cash Collateral Access to May 12 EASTERN MAINE HEALTHCARE: S&P Affirms 'BB-' ICR, Outlook Stable EASTMAN KODAK: S&P Alters Outlook to Stable, Affirms 'CCC+' ICR EDDIE BAUER: Court Confirms Amended Joint Plan of Reorganization EGGSTRODINARY RESTAURANTS: Case Summary & 20 Unsecured Creditors EMERGENCY HOSPITAL: Court Extends Cash Collateral Access to June 30 ENGINEERED MACHINERY: Moody's Alters Outlook on 'B2' CFR to Stable ENVELOPE 1 INC: Gets Extension to Access Cash Collateral ESJ TOWERS: Court Upholds Judgment in DAC Adversary Case ETEGRA INC: Gets Interim OK to Use Cash Collateral ETEGRA INC: Plan Exclusivity Period Extended to June 2 ETROG PROPERTIES: Gets Extension to Access Cash Collateral EVONA LLC: Stephen Gray Named Subchapter V Trustee FABRICATION DESIGNS: Court OKs DIP Loan, Cash Collateral Access FAT BRANDS DEVELOPMENT: Case Summary & 30 Unsecured Creditors FCI SAND: Seeks to Sell Sand & Mining Biz at Auction FINANCE OF AMERICA: CAO Tai Thornock Retires Effective May 15 FLUX POWER: Triggers EBITDA Covenant Default Under Loan Agreement FOUR SEASONS: Case Summary & 17 Unsecured Creditors FUEL FITNESS: Gets Extension to Access Cash Collateral FUEL HOMESTEAD: Gets Extension to Access Cash Collateral FUEL REYNOLDA: Gets Extension to Access Cash Collateral FULLER'S SERVICE: Seeks to Sell Vehicles to Highest Bidder G3 CONSTRUCTION: Court OKs Pensacola Property Sale to Daniel Shear GARNET HEALTH: Moody's Puts 'Ba3' Rating on Review for Upgrade GBS BARR HOLDINGS: Gets Final OK to Use Cash Collateral GEDDO CORP: Files Emergency Bid to Use Cash Collateral GOLIATH VENTURES: U.S. Trustee Appoints Creditors' Committee HAMJ INVESTMENT: Seeks Cash Collateral Access HEALTHIER CHOICES: Secures $5MM Loan Facility From Sabby HEALTHIER CHOICES: Terminates $5 Million Revolving Credit Facility HPC VINEBURN: Seeks to Extend Plan Exclusivity to August 5 HYPERMIND CORP: Seeks Cash Collateral Access Until July 1 IES ELEVATOR: Jose Diaz Crespo Named Subchapter V Trustee INSPIRED HEALTH: Creditors Say Ch. 11 Mediation Request Was Prem INSPIREMD INC: Signs $75MM Equity Distribution Agreement With BTIG INSPIREMD INC: Terminates $75M Piper Sandler ATM Offering Agreement INTREX INC: Court Confirms First Amended Plan of Reorganization IR4C INC: Court Denies Lakeland Property Sale to Gregory Madden JSMITH CIVIL: Court Extends Time to Respond to Barnhill Claim JVK OPERATIONS: Emerges from Chapter 11 Backed by Sundara Partners KAISA GROUP: Seeks U.S. Recognition of Chapter 15 Restructuring KEHE DISTRIBUTORS: S&P Rates New $500MM Senior Secured Notes 'B-' KIRKBRIDE LAND: Court Extends Cash Collateral Access to May 31 KITCHEN AND BATH: Gets Extension to Access Cash Collateral KROSKOB BROS: Case Summary & 17 Unsecured Creditor LAKE COUNTY: Court Extends Cash Collateral Access to April 30 LAND GO: Seeks Subchapter V Bankruptcy in Missouri LANGUAGE KIDS: Unsecureds to Get Share of Income for 36 Months LAW OFFICES OF TRAVIS: Seeks to Use Cash Collateral LAZARUS INDUSTRIES: Unsecureds Will Get 15% over 60 Months LIBERTY CARRIERS: Section 341(a) Meeting of Creditors on May 11 LIFEPOINT HEALTH: S&P Rates New $1.5BB Senior Secured Notes 'B' LIMESTONE UNIVERSITY: FNB Wants Aurora Management as Receiver LINDSLEY EXCAVATING: Seeks Cash Collateral Access LISA PARK: Seeks Cash Collateral Access LOW COST: Unsecureds Will Get 5% of Claims over 5 Years LUMEN TECHNOLOGIES: S&P Rates New Revolving Credit Facility 'B+' LURIN REAL ESTATE: Affiliate Gets Interim OK to Use Cash Collateral LURIN REAL ESTATE: Gets Final OK to Use Cash Collateral MACROFIT INC: Case Summary & 11 Unsecured Creditors MALCOLM PATRICK: Case Summary & Seven Unsecured Creditors MARE ISLAND: Seeks Cash Collateral Access MARTIN DISPOSAL: Gets Interim OK to Use Cash Collateral MIRROR LAKE: Gets Interim OK to Use Cash Collateral MUNAWAR LAW: Chapter 11 Trustee Appointment Sought NAUTICAL IMPORTS: Court Extends Cash Collateral Access to April 30 NAVELLIER & ASSOCIATES: Seeks to Extend Plan Exclusivity to June 5 NELLIS CAB: Seeks to Extend Plan Exclusivity to August 4 NEUROONE MEDICAL: Stockholders OK Five Proposals at Annual Meeting NEW PIPE PLUMBING: Gets Final OK to Use Cash Collateral NOVA CHEMICALS: Moody's Puts 'Ba2' CFR on Review for Upgrade NOVEP LLC: U.S. Trustee Unable to Appoint Committee NOW SOLUTIONS: ZenaTech Acquires Material Assets in Bankruptcy Sale OAKLAND PHYSICIANS: AFSCME Loses Bid for Administrative Expenses OMNICARE LLC: Court Okays Chapter 11 Auction with $250MM Base Bid OROVILLE HOSPITAL: Seeks to Extend Plan Exclusivity to August 5 P3 HEALTH: Registers Addt'l 72,059 Shares Under 2021 Incentive Plan PATCHELL HOLDINGS: Moody's Withdraws 'B3' CFR on Debt Repayment PAUL J. MASSEY: April 21 Hearing Set for UST's Motion to Dismiss PAVMED INC: Craig Kallman, 2015 Living Trust Hold 6% Stake PAVMED INC: Tasso Partners Hold 14.3% Equity Stake PCR AGAWAM: Gets Interim OK to Use Cash Collateral PERFORCE SOFTWARE: Moody's Affirms B3 CFR Amid Distressed Exchange PINE GATE: ACT Power Services Sold in Parent Bankruptcy PIZZAHQ NJ1: Gets Final OK to Use Cash Collateral PKG INC: Case Summary & One Unsecured Creditor PKG INC: Seeks Chapter 11 Bankruptcy in California POWER LANE: Seeks Subchapter V Bankruptcy in California PRO TEMECULA: U.S. Trustee Unable to Appoint Committee PROJECT PIZZA: Gets Extension to Access Cash Collateral QUALITY PORTABLE: Andrew Layden Named Subchapter V Trustee REEL TRIMS: Aleida Martinez Molina Named Subchapter V Trustee REINFRO LLC: Court Extends Cash Collateral Access to April 30 RESTORATION HARDWARE: S&P Affirms 'B' ICR, Alters Outlook to Neg. RICHARD MEYER: Case Summary & 16 Unsecured Creditors ROCKFORD SILK: Court Extends Cash Collateral Access to April 20 SAFE INNOVIATION: Tarek Kiem Named Subchapter V Trustee SAKS GLOBAL: Grable Martin Advises People Center and CleNET SAKS GLOBAL: Secures Court Ok to Sell Company Jet for $6MM SANTA PAULA: Seeks to Sell Moorpark Property to Highest Bidder SANTA PAULA: Seeks to Sell Oak View Property to Highest Bidder SARC US: To Sell Carol Stream Property to Praveen Mothe for $1.7MM SEALED AIR: S&P Lowers ICR to 'B+' Following Acquisition by CD&R SHADY TREE: Seeks Cash Collateral Access SKYE A. SMITH DDS: Greta Brouphy Named Subchapter V Trustee SLATEHILL EOM: Section 341(a) Meeting of Creditors on May 18 SMARTZ INC: Case Summary & 20 Largest Unsecured Creditors SOUTHERN TIRE: Gets Extension to Use Cash Collateral SPARHAW LLC: To Sell Trucks & Trailers to CB Leasing for $950K SPIRIT AIRLINES: US Trustee Objects to Disclosure, Seeks More Info SPOKANE INDUSTRIES: Gets Final OK to Obtain DIP Financing STEVE CLARK: Seeks to Extend Plan Exclusivity to June 8 STG LOGISTICS: Disclosure Statement Wins Conditional OK STRUCTURLAM MASS: Court Tosses Hooper, et al. Adversary Case STUDIO CHIQUE: Jolene Wee Named Subchapter V Trustee SUPERIOR FAMILY: Seeks to Sell 4700 Box Truck at Auction SURVWEST LLC: Unsecureds Will Get 29% to 55% in Trustee's Plan SWIFTSHIPS LLC: U.S. Trustee Appoints Creditors' Committee SWING ZONE: Gets Interim OK to Use Cash Collateral TEDDER INDUSTRIES: Seeks to Extend Plan Exclusivity to July 6 TERRASTRAT GROUP: Seeks Cash Collateral Access TEXAS INTERNATIONAL: Unsecureds Will Get 100% over 60 Months THREE OAKS: Court Extends Cash Collateral Access to April 30 THUY & BACH-YEN: Bankruptcy Administrator Cannot Appoint Committee THUY & BACH-YEN: Gets Interim OK to Use Cash Collateral TM36 LLC: To Sell Pensacola Property to Blackhawk 82nd for $2.2MM TURTLE LANE: Court Asked to Approve Chapter 11 Trustee Appointment V&H HOLDINGS: Court OKs Interim Use of Cash Collateral VANDERBILT MINERALS: Jones Day Hiring Paused Amid New Evidence VIEWPOINT AMBULANCE: Files Emergency Bid to Use Cash Collateral VILLAGE HOMES: To Sell Fort Worth Properties to Multiple Buyers VINTRENDI WINE: Court Extends Cash Collateral Access to May 28 VIVOSIM LABS: Closes Initial $3MM Tranche of Best-Efforts Offering WESTERN REGIONAL: Unsecureds Will Get 100% of Claims in Sale Plan WESTSIDE TOW: Gets Interim OK to Use Cash Collateral Until June 30 WILSON & ASSOCIATES: Unsecureds Will Get 2.6% of Claims in Plan WISCONSIN & MILWAUKEE: Lenders Lose Bid to Suspend Chapter 11 Case WOODTOWN SPORTS: Case Summary & 20 Largest Unsecured Creditors YNEZ SHOPS: U.S. Trustee Unable to Appoint Committee [] Mark Kronfeld Joins Nardello & Co. to Lead Bankruptcy Practice [] Wilentz Obtains Full Affirmance of $18M Commercial Foreclosure [^] BOOK REVIEW: LING The Rise, Fall, & Return of a Texas Titan ********* 307 COLLISION: Gets Final OK to Use Cash Collateral --------------------------------------------------- 307 Collision Center, Inc. received final approval from the U.S. Bankruptcy Court for the District of Wyoming for authority to use cash collateral. Under the final order, the Debtor is authorized to use cash collateral in accordance with an approved budget effective from the petition date. To protect secured creditors, the court granted them replacement liens on the Debtor's post-petition assets, maintaining the same nature, priority, and extent as their pre-petition liens. Additionally, if the collateral value declines, secured creditors are entitled to superpriority administrative claims under Section 507(b), giving them enhanced repayment rights. Importantly, the order does not determine the validity or priority of any creditor's liens, and all parties retain the right to challenge them later. A copy of the court's order budget is available at https://shorturl.at/Eqj0H from PacerMonitor.com. 307 Collision Center's revenue derives from auto body repair services. Without access to its cash and receivables, the Debtor will be unable to continue operating to the detriment of creditors. The Debtor identifies four creditors asserting interests in cash collateral: the U.S. Small Business Administration, which holds a first-priority lien predating other lenders, and three merchant cash advance lenders -- ODK Capital, LLC doing business as OnDeck, Samson MCA LLC, and Simply Funding LLC -- each claiming security interests in accounts receivable. About 307 Collision Center Inc. 307 Collision Center, Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Wyo. Case No. 26-20025) on January 21, 2026. At the time of the filing, Debtor had estimated assets of between $100,001 and $500,000 and liabilities of between $500,001 and $1 million. Judge Cathleen D. Parker oversees the case. Clark Stith is Debtor's legal counsel. 4US CORP: Court Extends Cash Collateral Access to April 24 ---------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division issued a third interim order authorizing 4 US Corp, Inc. to use cash collateral to fund ordinary business operations. Under the third interim order, the Debtor is authorized to use assets considered cash collateral, including $1,000 in a checking account at Bank of America, $50,000 in accounts receivable, $2,000 in office equipment, a fleet of 26 trucks and 30 trailers valued at about $3,030,000, and a forklift valued at $35,000. These assets can be used only to pay necessary operating expenses and only within the limits of a court-approved budget. The order places restrictions on how the collateral can be used. Any spending that exceeds a budgeted line item by more than 5% requires prior written approval from the U.S. Small Business Administration or additional authorization from the court. The Debtor is also required to maintain insurance coverage on its property and assets to protect the collateral while it is being used during the bankruptcy process. The authorization to use the cash collateral is temporary and will expire on April 24 unless the court extends it. A status hearing regarding the Debtor's continued use of cash collateral is scheduled for April 21. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/uiEON from PacerMonitor.com. About 4US Corp Inc. 4US Corp, Inc. operates as a transportation and logistics company, providing freight hauling services through ownership of commercial trucks and trailers, including Freightliner trucks and Wabash, Dorsey, Mac, Fontaine, Hyundai, and Eagle trailers. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-01936) on February 2, 2026. In the petition signed by Eli Malikovsky, president, the Debtor disclosed $3,118,000 in total assets and $9,253,165 in total liabilities. Judge Timothy A. Barnes oversees the case. David Freydin, Esq., at LAW OFFICES OF DAVID FREYDIN, represents the Debtor as legal counsel. A&M AUTOBODY: Gets Interim OK to Use Cash Collateral ---------------------------------------------------- The U.S. Bankruptcy Court for the District of Massachusetts granted A&M Autobody, Inc. approval to use cash collateral to fund operations. This authorization is granted under the same terms and conditions outlined in the debtor's motion, ensuring continuity of operations such as paying expenses and maintaining business functions. The interim authorization is effective through April 30, unless modified or extended by the Court. A further hearing on the debtor’s continued use of cash collateral is scheduled for April 30. About A&M Autobody Inc. A&M Autobody, Inc. is an auto body repair company operating in Massachusetts. A&M Autobody filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. Case No. 26-40056) on January 20, 2026, listing up to $50,000 in assets and between $1 million and $10 million in liabilities. James LaMontagne of Sheehan Phinney Bass & Green serves as Subchapter V trustee. The case is assigned to Chief U.S. Bankruptcy Judge Elizabeth D. Katz. The Debtor is represented by Marques C. Lipton, Esq., at Lipton Law Group. ABA THERAPY: Case Summary & Five Unsecured Creditors ---------------------------------------------------- Debtor: ABA Therapy Solutions, LLC 1532 SW Mapp Road Palm City, FL 34990 Business Description: ABA Therapy Solutions, LLC, founded in 2012, provides in-home applied behavior analysis services in Florida for individuals with autism and related disabilities. The company develops individualized treatment plans based on assessments and offers services in the home, clinic, school, and community settings across Indian River, Okeechobee, St. Lucie, Martin, and Palm Beach counties. It also provides parent training, behavioral supervision, and support for language, social, adaptive, and pre-academic skills. Chapter 11 Petition Date: April 12, 2026 Court: United States Bankruptcy Court Southern District of Florida Case No.: 26-14524 Judge: Hon. Mindy A Mora Debtor's Counsel: Craig I. Kelley, Esq. KELLEY KAPLAN DELANEY & ELLER, PLLC 1665 Palm Beach Lakes Blvd The Forum - Suite 1000 West Palm Beach, FL 33401 Tel: 561-491-1200 Email: craig@kelleylawoffice.com Total Assets: $377,800 Total Liabilities: $1,264,465 The petition was signed by Gary Peirce as CFO and managing member. A full-text copy of the petition, which includes a list of the Debtor's five unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/CAT3RZA/ABA_Therapy_Solutions_LLC__flsbke-26-14524__0001.0.pdf?mcid=tGE4TAMA ALEON METALS: Court Confirms Joint Plan of Liquidation ------------------------------------------------------ Judge Christopher Lopez of the U.S. Bankruptcy Court for the Southern District of Texas approved the Disclosure Statement and confirmed the Joint Plan of Liquidation for Aleon Metals, LLC on a final basis. The Disclosure Statement contains (a) sufficient information of a kind necessary to satisfy the disclosure requirements of all applicable nonbankruptcy laws, rules, and regulations, including, to the extent applicable, the Securities Act, and (b) "adequate information" (as such term is defined in section 1125(a) of the Bankruptcy Code), and is approved on a final basis in all respects. The Debtors' and the Committee's 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. The Plan, as amended by this Confirmation Order, is approved in its entirety and confirmed pursuant to section 1129 of the Bankruptcy Code. All objections (including any statements and reservations of rights contained therein) to Confirmation of the Plan that have not been withdrawn, waived (including any objections waived pursuant to the immediately succeeding paragraph), or settled prior to entry of this Confirmation Order, are not cured by the relief granted herein, or otherwise resolved as stated by the Debtors or the Committee on the record of the Combined Hearing, are overruled on the merits with prejudice. As shared by the Troubled Company Reporter, Aleon Metals, LLC and affiliates' and the Official Committee of Unsecured Creditors filed with the U.S. Bankruptcy Court for the Southern District of Texas a Combined Disclosure Statement and Joint Plan of Liquidation dated February 10, 2026. Aleon Metals is a Texas limited liability company which owns 100% of ARM and GMR. Other than Aleon Metals' ownership interest in ARM and GMR, Aleon Metals owns no other assets and has no employees. ARM is a Delaware limited liability company which, as of the Petition Date, owned, among other assets, the ARM Facility, and as of the Petition Date, had no employees. GMR is a Texas limited liability company which, as of the Petition Date, owned, among other assets, the GMR Facility. All of the Debtors' employees were employed by GMR. The Debtors purchased the GMR Facility in 2017, after its prior owner, Gulf Chemical & Metallurgical Corporation, filed for protection under chapter 11 of the Bankruptcy Code. As of the Petition Date, the Debtors had approximately $403.2 million in the aggregate of funded debt, as well as approximately $10.7 million of other unsecured debt. The Debtors' decision to commence these chapter 11 cases was the culmination of a series of operational, financial, and market driven challenges that emerged over the past several years. The Debtors' business, while strategically located and technologically advanced, has been subject to significant volatility in commodity prices, particularly for vanadium and molybdenum, which are the primary metals recovered from spent catalyst. After the Petition Date and pursuant to the Bidding Procedures Order, Jefferies assisted the Debtors in marketing their assets for a sale. Since June 2025, Jefferies contacted over 107 parties, including approximately 58 financial buyer and approximately 49 strategic buyers. This outreach included parties that were suggested to Jefferies by the Committee's professionals. The bid deadline was September 29, 2025, nearly three months since the Debtors and Jefferies initially began soliciting third party interest to determine the highest and best offer for the sale of all or substantially all of the Debtors' assets. Despite the Debtors' and Jefferies' best efforts to solicit qualified bids, the Debtors received no additional qualified bids prior to the bid deadline, other than the Stalking Horse Bid. On October 1, 2025, the Debtors cancelled the auction and declared the Purchaser, AM BidCo Operations LLC, as designee of the Stalking Horse Bidder, as the successful bidder. The Debtors sought approval of the Sale to the Purchaser at a hearing on October 8, 2025. The Bankruptcy Court entered the Sale Order that same day. Pursuant to the APA, the Purchaser acquired substantially all of the Debtors' assets, including, among other things, all of the Debtors' cash, accounts receivable, fixtures and equipment, inventory, and certain Avoidance Actions. The Purchaser also agreed to assume the Assumed Contracts and various liabilities of the Debtors, including certain Cure Costs (each as defined in the APA). Additionally, the APA and the Sale Order incorporated the terms of a global settlement reached by and among the Debtors, the Committee, the DIP Secured Parties, and the Purchaser, pursuant to which such parties agreed that the APA shall provide that Cash Consideration would include (i) agreed and allowed administrative expense claims under section 503(b) of the Bankruptcy Code incurred through the Closing Date; (ii) Allowed Professional Fees through the Closing Date; (iii) 2025 pro-rated property taxes; (iv) outstanding U.S. Trustee Fees; and (v) an amount equal to $1,100,000 (the "WindDown Amount"). The Wind-Down Amount consists of (a) $440,000 to be earmarked for distribution to general unsecured creditors, excluding Deficiency Claims; (b) $250,000 to fund the GUC Trust for the benefit of all Allowed general unsecured claims, including, but not limited to, the Deficiency Claims; (c) $67,500 for Allowed Professional Fees of Committee Professionals incurred after the Closing Date; and (d) $342,500 for Allowed Professional Fees for Debtor Professionals incurred after the Closing Date. Class 3 consists of the General Unsecured Claims. Except to the extent that a Holder of an Allowed General Unsecured Claim agrees to a different treatment, such Holder shall receive, in full and final satisfaction, settlement, release and discharge of, and in exchange for, such Allowed General Unsecured Claim, a GUC Trust Interest. Holders of Allowed General Unsecured Claims who receive a GUC Trust Interest shall be entitled to a pro rata distribution of the following, as set forth more fully in the GUC Trust Agreement: * Holders of All Allowed General Unsecured Claims. The GUC Trust Distributable Assets. * Holders of Allowed General Unsecured Claims Excluding Deficiency Claims. On the Effective Date, $440,000. For the avoidance of doubt, Holders of Allowed Deficiency Claims agree to not receive their pro rata share of the $440,000. Class 3 is Impaired. Holders of Class 3 General Unsecured Claims are entitled to vote on the Plan. The allowed unsecured claims total $280.7 million. This Class will receive a distribution of 0.22% of their allowed claims. Class 5 consists of the Intercompany Interests of the Debtors. On the Effective Date, all Intercompany Interests shall be extinguished without any Distribution on account of such Intercompany Interests and shall be of no further force or effect. Class 6 consists of the Allowed Interests in Aleon Metals. On the Effective Date, all Interests in Aleon Metals shall be automatically cancelled, released, extinguished, and of no further force or effect. Holders of Interests in Aleon Metals shall neither retain nor receive any property under the Plan on account of such Interests and shall receive no Distribution. The Plan will be funded by Cash held by the Debtors and the GUC Trust Assets. On the Effective Date, the GUC Trust shall be established pursuant to the GUC Trust Agreement for the purpose of maximizing the value of the GUC Trust Assets and effectuating distributions to the GUC Trust Beneficiaries consistent with the Plan. The GUC Trust is intended to qualify as a liquidating trust pursuant to Treasury Regulation Article 301.7701-4(d), with no objective to continue or engage in the conduct of a trade or business, except to the extent reasonably necessary to, and consistent with, the liquidation purpose of the GUC Trust. A full-text copy of the Combined Disclosure Statement and Plan dated February 10, 2026 is available at https://urlcurt.com/u?l=TqEkRm from PacerMonitor.com at no charge. A copy of the Court's Findings of Fact, Conclusions of Law, and Order dated April 10, 2026, is available at http://urlcurt.com/u?l=P9PlK5from PacerMonitor.com About Aleon Metals LLC Aleon Metals, LLC, owns and operates a multipurpose solid waste disposal facility in Freeport, Texas, specializing in the extraction and refinement of metals used in the energy industry. The Company is also developing a hydrometallurgical recycling process for lithium-ion batteries that would convert aluminum waste from its catalyst recycling operations into battery-grade materials for cathode production. Aleon Metals and its affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-90305) on Aug. 17, 2025. In the petition signed by CRO Roy Gallagher, Aleon Metals disclosed up to $500 million in both assets and liabilities. Judge Christopher M. Lopez oversees the case. The Debtors tapped Morrison & Foerster, LLP as bankruptcy counsel; Norton Rose Fulbright US, LLP as local counsel; Ankura Consulting Group, LLC as restructuring and financial advisor; Jefferies, LLC as investment banker; and Stretto, Inc. as claims and noticing agent. The Official Committee of Unsecured Creditors has retained Gray Reed as counsel. ALL STAR: Amends Reno Property Sale to Javelin Ventures ------------------------------------------------------- All Star Transportation Group LLC seeks approval from the U.S. Bankruptcy Court for the District of Nevada to amend order on the sale of Property to Javelin Ventures, LLC, free and clear of liens, claims, interests, and encumbrances. The Debtor moves for an order amending prior Order on February 12, 2026, granting the Debtor to sell Property located at 949 E. 4th Street, Reno, NV 89512 to Javelin Ventures, LLC for a reduced purchase price from $575,000 to $550,000. After arms-length negotiations, Debtor and Javelin have agreed in good faith to amend the Purchase Agreement to reduce the purchase price by $25,000 (to $550,000) to account for a portion of the necessary repairs, facilitate prompt closing, and avoid potential disputes, breach claims, or termination of the transaction. Debtor has determined that proceeding with the Amended Sale at the reduced price remains in its best financial interest, and in the best interests of the bankruptcy estate and its creditors. The Amended Sale avoids the risk of losing the ready Buyer, the costs and delay of remarketing the Property, potential further deterioration or carrying costs, and the possibility of a lower (or no) alternative offer. The net proceeds will continue to fund Debtor’s Chapter 11 plan consistent with the Express Ride Settlement. An estimated ALTA Settlement Statement for the Sale is attached to the Ledesma Declaration as Exhibit 3 and projects net proceeds to Debtor of $110,586.95 after paying the secured debt against the E. 4th Street Property and all of seller’s costs of sale. https://urlcurt.com/u?l=vN5awD The amendment does not impair Buyer's status as a good-faith purchaser. The price adjustment arose from legitimate, arms-length negotiations following due-diligence discoveries expressly contemplated by the Purchase Agreement and the Prior Sale Order. About All Star Transportation Group All Star Transportation Group, LLC, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Nev. Case No. 24-51229) on Dec. 10, 2024, with $917,504 in assets and $1,303,069 in liabilities. Tim Ledesma, manager of All Star, signed the petition. Judge Hilary L. Barnes oversees the case. Kevin A Darby, Esq., at Darby Law Practice, is the Debtor's bankruptcy counsel. ALLEN WALNUT: Commences Chapter 11 Bankruptcy in West Virginia -------------------------------------------------------------- On April 10, 2026, Allen Walnut Ridge Trucking, Inc. filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of West Virginia. According to court filings, the Debtor reports between $100,001 and $1,000,000 in debt owed to 50–99 creditors. Disclosure statement due by August 10, 2026. About Allen Walnut Ridge Trucking, Inc. Allen Walnut Ridge Trucking, Inc. is a transportation company engaged in freight hauling and logistics services. Allen Walnut Ridge Trucking, Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-20084) on April 10, 2026. In its petition, the Debtor reports estimated assets of $100,001–$1,000,000 and estimated liabilities of $100,001–$1,000,000. Honorable Bankruptcy Judge B. McKay Mignault handles the case. The Debtor is represented by Joseph W. Caldwell, Esq. of Caldwell & Riffee. AMBAR TRANSPORTATION: Gerard Luckman Named Subchapter V Trustee --------------------------------------------------------------- The U.S. Trustee for Region 2 appointed Gerard Luckman, Esq., at Forchelli Deegan Terrana, LLP as Subchapter V trustee for Ambar Transportation Inc. Mr. Luckman will be paid an hourly fee of $725 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Luckman declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Gerard R. Luckman, Esq. Forchelli Deegan Terrana, LLP 333 Earle Ovington Blvd., Suite 1010 Uniondale, NY 11553 Tel: (516) 812-6291 Email: gluckman@ForchelliLaw.com About Ambar Transportation Inc. Ambar Transportation Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 26-41612) on April 01, 2026, with $0 to $50,000 in assets and $500,001 to $1 million in liabilities. Judge Jil Mazer-Marino presides over the case. Heath S. Berger, Esq. at Bfsng Law Group, LLP represents the Debtor as legal counsel. AMIREPAIR I INC: Voluntary Chapter 11 Case Summary -------------------------------------------------- Debtor: Amirepair I Inc. d/b/a Precision Automotive Paint and Collision 5212 Lake Isabella Blvd PO Box 636 Lake Isabella CA 93240 Business Description: Providing auto repair, collision repair, and towing services, Amirepair I Inc., doing business as Precision Automotive Paint and Collision, operates from Lake Isabella, California. The company offers body shop work, auto maintenance and inspection, brake and engine repair, tire and transmission services, smog testing, auto glass work, and 24-hour towing. It also provides roadside assistance and related vehicle services. Chapter 11 Petition Date: April 10, 2026 Court: United States Bankruptcy Court Eastern District of California Case No.: 26-11617 Judge: Hon. Jennifer E Niemann Debtor's Counsel: Lisa Holder, Esq. LISA NOXON HOLDER, PC 2601 Kilcarey Court Bakersfield CA 93306 Tel: 661-205-2385 E-mail: lholder@lnhpc.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Ashley Miller as president. The Debtor did not submit a list of its 20 largest unsecured creditors along with the petition. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/EM3RKHQ/Amirepair_I_Inc__caebke-26-11617__0001.0.pdf?mcid=tGE4TAMA ANNE M. CUMMINGS: Court Values Real Property at $1,735,000 ---------------------------------------------------------- Judge Dennis Montali of the U.S. Bankruptcy Court for the Northern District of California entered a Memorandum Decision on the valuation of Anne M. Cummings's real property where she resides in Greenbrae, California. The court fixes the value of the property for purposes of this Chapter 11 case and the pending plan, both as of April 2, 2025 and at present under the Debtor's plan, at $1,735,000. On March 23, 2026, the court conducted an evidentiary hearing on the motion of the Debtor to value the property. During the trial, the court heard evidence from Debtor's expert, Brian Rapela, and from creditor Navitas Creditor Corp.' expert, Paula Saling. Debtor filed under Subchapter V of Chapter 11 on April 2, 2025. In her sworn Schedules, filed on April 16, 2025 she stated that the property had a value of $1,865,000. She added that the source of value was an appraisal for a divorce. Debtor claimed senior encumbrances on the property of a first deed of trust held JP Morgan Chase Bank NA in the amount of $598,973 and Marin County real property taxes in the amount of $9,498.83. Among her secured claims in Schedule D, she listed Balboa Capital Corporation, with a claim of $281,606.21. She did not indicate any value of collateral securing Balboa's claim. In that same portion of the Schedule, she listed Navitas as owed an amount of $204,576.21 but, as with Balboa, did not set forth any value of collateral securing that claim. On July 1, 2025, she filed her Chapter 11 Subchapter V Plan. In her plan, she stated a fair market value of the property as $1,585,250 and listed classes 2A, 2B, and 2D, inter alia, for which classes she indicated that the respective individual class member was a secured creditor to the extent allowed as a secured claim under Sec. 506 of the Code. More specifically, the plan listed Chase's secured claim of $613,691.43 and Balboa's as $122,237 (secured), with $159,369 (unsecured). For Navitas, the plan stated that its claim, then at $212,949.26, would be wholly unsecured. Debtor's own numbers reveal, however, that Navitas would still be partially secured despite her statement to the contrary. On August 1, 2025, Navitas filed an objection to confirmation, alleged that its secured claim was now $212,949.26 as of the petition date, and indicated in the objection that Debtor had stated that she intended to file a section 506(a) motion to strip lien which would leave Navitas as an unsecured creditor. Navitas' objection repeated the value of the property as originally scheduled by the Debtor ($1,865,000), the amount of the Chase lien ($613,691), the homestead exemption ($722,502), and a proof of claim filed by Balboa in the amount of $281,606.21. Based upon those numbers, Navitas contended that at the minimum there was value of $247,209.79, leaving its claim secured or partially secured. Navitas also objected to the unsupported lower value set forth in the plan, notwithstanding the higher value listed in Debtor's Schedules. On August 4, 2025, Debtor filed a Notice of Settlement with Balboa Capital. In that document, Debtor described an agreement with Balboa where it would receive $50,000 upon confirmation of the Amended Plan, $100,000, payable monthly over five years, with the balance of Balboa's claim treated as an unsecured claim. Given that agreement on its face, the court considers it as a treatment of a Balboa claim as secured in the amount of no more than $150,000. On August 27, 2025, Debtor filed an Amended Chapter 11 Subchapter V Plan (the "Plan"). In the Plan, she repeated her treatment of Chase in the same amount indicated above, clarified that Balboa would have a secured claim in the amount of $150,000 and an unsecured claim of $131,606.21, and that Navitas' secured claim would be the subject of an adversary proceeding to avoid the lien as a preferential transfer or to file a section 506(a) motion to strip any lien. Unsurprisingly, Navitas objected again, this time adding that its judgment had been recorded prior to the ninety-day preference period that Debtor referred to in her previous filing. It repeated its objection that even with the Balboa lien allowed at $281,606, Navitas' secured claim was partially secured, based upon Debtor's sworn Schedules and valuation. The court fixes the value of the property as of the petition date and as of the date of the concurrently issued order, at $1,735,000. The court believes that a proper value increase of $85,000 (half bath; topography; speculation about future expenditures) is appropriate, resulting in a valuation of $1,735,000. Accordingly, Navitas' lien does not impair the Debtor's homestead exemption and Debtor is not entitled to strip any part of that lien or otherwise treat any part of the lien as an unsecured claim in her pending proposed, contested Chapter 11, Subchapter V plan. It will hold a fully secured claim under that plan. If confirmation is denied, or the Plan revised to alter the amount of the secured portion of the Balboa claim, thus impacting the junior Navitas lien, the court may need to revisit the Section 522(f) determination. The court will hold a status conference in this case on April 24, 2026, at 10:00 a.m. via Zoom. One week prior, Debtor is directed to file an amended Plan, consistent with the value of the property fixed by this decision. A copy of the Court's Memorandum Decision dated April 1, 2026, is available at https://urlcurt.com/u?l=Ancdv6 from PacerMonitor.com. Anne M Cummings filed for Chapter 11 bankruptcy petition (Bankr. N.D. Calif. Case No. 25-30262) on April 2, 2025, listing under $1 million in both assets and liabilities. The Debtor is represented by James Till, Esq. AON STUDIOS: Case Summary & Eight Unsecured Creditors ----------------------------------------------------- Debtor: AON Studios, LLC 1725 E. University Ave. Des Moines, IA 50316 Business Description: AON Studios, LLC, based in Des Moines, Iowa, provides video production and live streaming services, including corporate and commercial video production, legal deposition recording, podcast studio services, motion graphics, and virtual conferencing. Operating from a 6,000-square-foot facility, the company supports projects from pre-production through final delivery for business and media clients. Chapter 11 Petition Date: April 13, 2026 Court: United States Bankruptcy Court Southern District of Iowa Case No.: 26-00573 Judge: Hon. Lee M Jackwig Debtor's Counsel: Jeffrey D. Goetz, Esq. DICKINSON, BRADSHAW, FOLWER & HAGEN, PC 801 Grand Avenue, Suite 3700 Des Moines, IA 50309-8004 Tel: 515-246-5817 Fax: 515-246-5808 E-mail: jgoetz@dickinsonbradshaw.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Dwight A. Reed as CEO. A full-text copy of the petition, which includes a list of the Debtor's eight unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/RGCZ47A/AON_Studios_LLC__iasbke-26-00573__0001.0.pdf?mcid=tGE4TAMA ARCADIA BIOSCIENCES: Dismisses Deloitte & Touche, Appoints RJI CPAs ------------------------------------------------------------------- Arcadia Biosciences, Inc. disclosed in a regulatory filing that the Audit Committee of the board of directors dismissed Deloitte & Touche LLP as the Company's independent registered public accounting firm. Deloitte's audit reports on the Company's consolidated financial statements for the years ended December 31, 2025 and December 31, 2024 did not contain an adverse opinion or a disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope, or accounting principles, other than the explanatory paragraph regarding the Company's ability to continue as a going concern due to the Company's accumulated deficit, recurring net losses and net cash used in operations, and resources that will not be sufficient to meet its anticipated cash requirements. During the Company's two most recent fiscal years and the subsequent interim period through March 30, 2026, there were no: (i) disagreements as defined in Item 304(a)(1)(iv) of Regulation S-K under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the related instructions thereto, between the Company and Deloitte on any matter of accounting principles or practice, financial statement disclosure, or auditing scope or procedure that, if not resolved to Deloitte's satisfaction, would have caused Deloitte to make reference thereto in its reports covering the Company's consolidated financial statements for such periods, or (ii) reportable events (as defined in Item 304(a)(1)(v) of Regulation S-K under the Exchange Act), except that the Company identified material weaknesses in its internal control over financial reporting as of and for the year ended December 31, 2025, as disclosed in Part II, Item 9A, Controls and Procedures, of the Company's Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission on March 26, 2026. In the Form 10-K, the Company previously identified material weaknesses in its internal control over financial reporting stemming from control deficiencies relating to: (i) insufficient segregation of duties in the financial statement close process, and (ii) insufficient information system controls, including access and change management controls. The disclosure in the Form 10-K noted that the Company's employee headcount has been reduced, resulting in insufficient personnel to maintain proper segregation of duties, which impacts the effectiveness of business process as well as information systems controls. This reportable event was discussed among the Company's management, the Audit Committee, and Deloitte. Deloitte has been authorized by the Company and the Audit Committee to respond fully to the inquiries of Ramirez Jimenez International CPAs, the Company's successor independent registered public accounting firm, concerning this reportable event or other matters. Engagement of New Independent Registered Public Accounting Firm Following the Company's dismissal of Deloitte, the Audit Committee approved the engagement of Ramirez Jimenez International CPAs, effective immediately upon the dismissal of Deloitte, as the Company's independent registered public accounting firm, beginning with the review of the Company's financial statements for the quarter ending March 31, 2026, and including the audit of the Company's consolidated financial statements for the year ending December 31, 2026. The decision to retain RJI was approved by the Audit Committee. During the Company's two most recent fiscal years and through the date of this Current Report on Form 8-K, neither the Company, nor anyone on its behalf, consulted RJI regarding: (A) the application of accounting principles to a specific transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company's consolidated financial statements, and neither a written report nor oral advice was provided to the Company by RJI that RJI concluded was an important factor considered by the Company in reaching a decision as to any accounting, auditing, or financial reporting issue, or (B) any matter that was either (i) the subject of a disagreement (as defined in Item 304(a)(1)(iv) of Regulation S-K under the Exchange Act), or (ii) a reportable event (as defined in Item 304(a)(1)(v) of Regulation S-K). About Arcadia Biosciences Inc. Headquartered in Dallas, Texas, Arcadia Biosciences Inc. is a producer and marketer of innovative, plant-based health and wellness products. Since its inception in 2002, it has worked on creating next-generation wellness products, particularly by enhancing wheat with unique nutritional profiles, including increased fiber, improved protein quality, fewer calories, reduced gluten, and extended shelf stability. Their portfolio also includes Zola Coconut Water, a hydrating beverage that is Non-GMO, low in calories, and rich in electrolytes. The Company collaborates with food manufacturers to create healthier wheat-based products. Tempe, Arizona-based Deloitte & Touche LLP, the Company's auditor since 2007, issued a "going concern" qualification in its report dated March 26, 2026, citing that the Company has an accumulated deficit, recurring net losses and net cash used in operations, and resources that will not be sufficient to meet its anticipated cash requirements, which raises substantial doubt about its ability to continue as a going concern. As of December 31, 2025, the Company had $6.5 million in total assets and $2.4 million in total liabilities, and total stockholders' equity of $4.1 million. ASBESTOS CORP: Claims Bar Date Set for September 10 --------------------------------------------------- Kroll Restructuring Administration and Raymond Chabot Inc. issued the following statement regarding the Asbestos Corporation Limited insolvency proceedings. BACKGROUND On May 6, 2025, Asbestos Corporation Limited, a Canadian-based company that formerly operated asbestos mines, filed for protection in the Superior Court of Quebec, Canada under Canada's Companies' Creditors Arrangement Act and a case under Chapter 15 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York. Chapter 15 allows U.S. Bankruptcy courts to provide support and assistance for insolvency proceedings taking place in other countries. If you think you may have a claim resulting from exposure to asbestos mined by ACL or another claim against ACL, this notice is intended to inform you of the upcoming deadline to file this claim in the Canadian Insolvency Proceeding in order to preserve your rights regarding such claim. Raymond Chabot Inc. was appointed to act as court-appointed monitor in the Canadian Insolvency Proceeding. WHO IS AFFECTED? This insolvency affects you if you have a claim against ACL or General Dynamics Corporation or its affiliates and any successors, and/or any of their respective predecessors, current or former employees, directors, officers, agents, representatives, assigns, or any of their respective insurers as a result of asbestos mined by ACL. WHAT IS A CLAIM AND WHO CAN FILE? A "claim" means a right to seek payment or other compensation. Asbestos Related Claims: If you or someone you know was exposed to asbestos mined by ACL and you have been diagnosed with symptoms or injuries, you must submit a Proof of Claim in the Canadian Insolvency Proceeding by no later than September 10, 2026. If you are an heir or are representing the estate of a deceased person who was injured as a result of exposure to asbestos mined by ACL, you also must submit a claim by no later than September 10, 2026, THE CLAIMS BAR DATE. If you have an Asbestos Related Claim resulting from exposure to asbestos mined by ACL and do not file a claim by the Claims Bar Date of September 10, 2026, you will NOT be able to file a claim or otherwise pursue compensation from ACL or General Dynamics Corporation or its affiliates and any successors, and/or any of their respective predecessors, current or former employees, directors, officers, agents, representatives, assigns, or any of their respective insurers in the future. Other Claims: Any other type of non-asbestos-related claim against ACL and/or its directors and officers (but not against General Dynamics Corporation, the insurers or the officers and directors of those entities) is also due no later than the Claims Bar Date. If you do not file any such other claim against ACL by the Claims Bar Date of September 10, 2026, you will NOT be able to file a claim or otherwise pursue compensation from ACL in the future. HOW TO FILE A PROOF OF CLAIM? Proof of Claims must be submitted to the Monitor as follows: -- Online (only for Existing Asbestos Claims): ACLClaims.com -- Email: asbestoscorp@rcgt.com -- Tel: (877) 788-0179 -- Fax: (800) 711-1070 -- Mail in Canada: Raymond Chabot Inc. Attention: Asbestos Corporation Limited National Bank Tower 600 De La Gauchetiere Street West, Suite 2000 Montreal, Quebec H3B 4L8 -- Mail in U.S.: Grant Thornton NYC Attention: Asbestos Corporation Limited 757 Third Ave. 9th Floor New York, NY 10017 GET MORE INFORMATION This is only a summary. For more information concerning ACL's insolvency, Frequently Asked Questions, Proof of Claim form, examples of personal injury and other claims that can be filed, instructions on how to file a claim, and important documents including the Bar Date Notice, visit the Monitor's Claims Bar Date Website at ACLClaims.com or call 1-877-788-0179. About Asbestos Corp Ltd. Mazarin Inc. and Asbestos Corporation Limited are two natural resource companies whose focus is on the development of industrial minerals in order to provide value-added products that meet the criteria of customers worldwide with regard to performance and economic and ecological concerns. Mazarin's shares trade on the NEX Board of TSX Venture Exchange under the stock symbol MAZ.H. Asbestos Corporation Limited's shares trade on the NEX Board of TSX Venture Exchange under the stock symbol AB.H. Asbestos Corp Ltd. sought relief under Chapter 15 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-10934) on May 6, 2025. The Honorable Bankruptcy Judge Martin Glenn handles the case. The Debtor's foreign representative is represented by Evan C. Hollander, Esq. at ORRICK, HERRINGTON & SUTCLIFFE LLP. Raymond Chabot, Inc. is the Debtor's foreign representative. ASSOCIATION OF APARTMENT: Gets Extension to Access Cash Collateral ------------------------------------------------------------------ The Association of Apartment Owners of Kauai Beach Villas received another extension from the U.S. Bankruptcy Court for the District of Hawaii to use the cash collateral of Bank of Hawaii to fund operations. The court issued a third interim order allowing the Debtor to use the lender's cash collateral until the next hearing to cover operating expenses under an approved budget. The Debtor is permitted to exceed the budget by up to 20% on a cumulative basis during the budget period. As protection, the Debtor is required to make monthly debt service payments of $13,030 to Bank of Hawaii, and grant replacement liens on its assets. Additionally, the Debtor is required to maintain a minimum cash balance of $450,000 in its DIP account with Bank of Hawaii to further protect the lender's interests. The authorization to use cash collateral is temporary and will expire at the end of the current budget period, which ends April 30 or upon payment default. A further hearing is scheduled for April 20. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/JtZM8 from PacerMonitor.com. Bank of Hawaii, as secured creditor, is represented by: Cuyler Shaw, Esq. Ellen A. Swick, Esq. Ashford & Wriston, LLP 999 Bishop Street, Suite 1400 Honolulu, HI 96813 Telephone: (808) 539-0400 Telecopier: (808) 533-4945 cshaw@awlaw.com eswick@awlaw.com About Association of Apartment Owners of Kauai Beach Villas Association of Apartment Owners of Kauai Beach Villas sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Hawaii Case No. 25-01103) on December 5, 2025, with up to $10 million in both assets and liabilities. Wayne K.T. Mau serves as Subchapter V trustee. Judge Robert J. Faris oversees the case. Chuck C. Choi, Esq., at Choi & Ito, represents the Debtor as legal counsel. ATW HEALTH: Voluntary Chapter 11 Case Summary --------------------------------------------- Debtor: ATW Health Solutions Inc. 625 West Adams Street Floor 19 Chicago, IL 60661 Cook County Business Description: ATW Health Solutions Inc., based in Chicago, Illinois, is a healthcare consulting and advisory firm providing performance improvement, patient safety, and health systems transformation services. Founded in 2014, the company works with government agencies, healthcare systems, and public health organizations to support data-driven improvements in care quality and outcomes. Certified as a Woman-Owned Small Business, it participates in federal contracting programs focused on public health and healthcare system implementation. Chapter 11 Petition Date: April 12, 2026 Court: United States Bankruptcy Court Northern District of Illinois Case No.: 26-06364 Judge: Hon. Deborah L Thorne Debtor's Counsel: Joseph Wrobel, Esq. JOSEPH WROBEL, LTD. #206 2070 Green Bay Rd. Highland Park, IL 60035 E-mail: josephwrobel@chicagobankrutpcy.com Estimated Assets: $50,000 to $100,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Knitasha Washington as president. The Debtor did not submit a list of its 20 largest unsecured creditors along with the petition. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/5Z4CWDA/ATW_Health_Solutions_Inc__ilnbke-26-06364__0001.0.pdf?mcid=tGE4TAMA AUTOLYCUS LLC: Court OKs BMO Collateral to LH Management -------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, has permitted Autolycus LLC to sell BMO Collateral, free and clear of liens, claims, interests, and encumbrances. The Debtor is a truck and trailer leasing company. The Debtor owns certain equipment, together with all contracts, agreements, and other documents to which Debtor is a party that relate to such Equipment (BMO Collateral). The Court has authorized the Debtor to sell the BMO Collateral to LH Management LLC (or its designee) for $2,400,000.00. Liens on the Collateral attach with their same relative priority to the proceeds of the sale of the Collateral. The transfer of the Collateral to LH Management LLC or its designee pursuant to the Letter of Intent as approved by the Order is or shall be a legal, valid, and effective transfer of the Collateral, authorized pursuant to the Bankruptcy Code. The Debtor is authorized to sell the Collateral free and clear of all liens, claims, and encumbrances. To the extent that BMO has repossessed any of the Collateral prior to the closing, BMO shall transfer such repossessed Collateral, together with all related certificates of title, to LH Management LLC or its designee at closing. The sale of the Collateral to LH Management LLC is authorized to occur on substantially the same terms and conditions set forth in the Letter of Intent between the Debtor and LH Management LLC About Autolycus LLC Autolycus LLC is a truck and trailer leasing company based in Bolingbrook, Illinois. Autolycus LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-13696) on September 4, 2025. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. Judge David H. Decelles presides over the case. The Debtor is represented by Saulius Modestas, Esq. at Modestas Law Offices, P.C. AYURCANN HOLDINGS: Emblem Selected Successful Bidder in CCAA Sale ----------------------------------------------------------------- Red White & Bloom Brands Inc. announce on April 13, 2026, that its wholly-owned subsidiary, Emblem Cannabis Corporation, has been selected as the successful bidder in the Court-supervised sale and investment solicitation process approved by the Ontario Superior Court of Justice (Commercial List) in connection with the insolvency proceedings of Ayurcann Holdings Corp. and Ayurcann Inc. under the Companies' Creditors Arrangement Act. Assets to be Acquired The transaction is structured as a share purchase, pursuant to which Emblem will indirectly acquire the underlying businesses, assets, licences, and operations through ownership of 100% of the newly issued shares of Ayurcann. Certain excluded assets and liabilities of Ayurcann will be vested in an affiliate of Ayurcann and will not be transferred as part of the Transaction. Upon closing of the Transaction, Emblem will acquire a comprehensive processing and manufacturing platform, including: -- Established Brand Portfolio. The Fuego, Xplor, and Happy & Stoned brands, together with all associated intellectual property, trademarks, and brand assets. Ayurcann's portfolio spans over ninety (90) tracked SKUs available through approximately 2,500 retail locations across Canada, with a particular focus on the high growth vape and pre-roll categories. -- Production Facility and Equipment. Ayurcann's cannabis formulation, manufacturing, and packaging operations based in Pickering, Ontario, including Ayurcann's interests in operational equipment and inventory, and other strategic assets. -- Commercial Relationships and Records. All retained contracts, customer and supplier relationships, distribution, and supply arrangements across eight (8) provinces and territories, and all associated books and records of the business. -- Licences. Subject to regulatory approval, all government licences required to operate the Ayurcann business. Strategic Rationale The proposed acquisition of Ayurcann's operations represents a strategically compelling addition to Emblem's existing Canadian cannabis platform. Ayurcann's recognized leadership in the vape and pre-roll segments, combined with its established national retail distribution network and Health Canada-licensed processing infrastructure in Pickering, Ontario, is expected to provide Emblem with significant scale, processing capacity, and brand breadth. The transaction is expected to generate synergies across the combined operations, including supply chain leverage, reduced finished goods costs, and G&A rationalization, while materially expanding the combined entity's share of the Canadian recreational cannabis market. Management Commentary "We are very pleased that Emblem has been selected as the successful bidder for Ayurcann," said Colby De Zen, President of RWB. "This acquisition is highly strategic and will immediately scale our Canadian platform with a leading portfolio in the fastest-growing product categories and a national distribution footprint across more than 2,500 retail locations. Beyond the brands and infrastructure, we are acquiring a proven operating platform with meaningful synergies across supply chain, manufacturing, and overhead. We look forward to integrating the Ayurcann business and its team and believe this transaction positions RWB to drive accelerated growth and enhanced shareholder value upon closing." Background and CCAA Sale Process On January 30, 2026, Ayurcann Inc. and its parent, Ayurcann Holdings Corp. obtained creditor protection under the CCAA pursuant to an Initial Order of the Court, with Alvarez & Marsal Canada Inc. appointed as Court-appointed monitor to oversee the proceedings. On February 13, 2026, the Court issued a Sale Process Approval Order approving the SISP to solicit interest in Ayurcann's business and assets on an "as is, where is" basis. Emblem participated in the SISP and tendered a binding agreement of purchase and sale. Following the bid deadline, Emblem's bid was selected as the successful bid. The Transaction remains subject to Court approval and the satisfaction of customary closing conditions. The purchase price for the Transaction will be payable in cash on closing with the support of facilities generally available to Emblem. The closing is currently anticipated to take place no later than May 15, 2026. About Red White & Bloom Brands Inc. Red White & Bloom Brands is a multi-jurisdictional cannabis operator and house of premium brands operating in the United States, Canada and select international jurisdictions. About Ayurcann Holdings Corp. Ayurcann is a cannabis licenced producer concentrating on the recreational market in Canada with proprietary products and formulations including Vape Carts, Pre-rolls, Concentrates and Extracts. BALLAST DESIGN: Todd Hennings Named Subchapter V Trustee -------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Todd Hennings, Esq., at Macey, Wilensky & Hennings, LLP as Subchapter V trustee for Ballast Design Build, LLC. Mr. Hennings will be paid an hourly fee of $450 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Hennings declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Todd E. Hennings, Esq. Macey, Wilensky & Hennings, LLP 5500 Interstate North Parkway, Suite 435 Sandy Springs, GA 30328 Phone: (404) 584-1222 Email: info@joneswalden.com About Ballast Design Build Ballast Design Build LLC is a limited liability corporation based in Georgia. Ballast Design Build sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-54381) on April 2, 2026. The Company listed $1 million to $10 million in assets and liabilities. Judge Barbara Ellis-Monro presides over the case. Leslie M. Pineyro, at Jones And Walden, LLC, is the Debtor's legal counsel. BARTRAM LOGISTICS: Gets Extension to Access Cash Collateral ----------------------------------------------------------- Bartram Logistics, LLC received another extension from the U.S. Bankruptcy Court for the Middle District of Tennessee to use cash collateral to fund operations. The court issued its eighth interim order authorizing the Debtor to use cash collateral until the next hearing scheduled for May 5. Use of such collateral must be in accordance with previous interim cash collateral orders and the latest budget, subject to a 10% variance. To protect the interests of pre-bankruptcy secured creditors, the court granted them replacement liens on post-petition cash collateral, which are automatically perfected without additional filings. The order also required all parties holding funds owed to the Debtor to immediately transfer them to the Debtor. The order is available at https://shorturl.at/sndxh from PacerMonitor.com. Bartram Logistics' assets include cash accounts, accounts receivable, and inventory, which may constitute cash collateral. Studio Bank asserts a secured claim of approximately $530,000, claiming an interest in the Debtor's accounts receivable and other assets via a UCC-1 filed in 2024. First Chatham Bank (also known as Cadence Bank) asserts a secured claim of approximately $2.3 million, claiming similar interests via a UCC-1 filed on April 28. All other creditors with UCC-1 filings, per the Tennessee Secretary of State, are merchant cash advance lenders. Studio Bank, as secured creditor, is represented by: David M. Anthony, Esq. Exo Legal PLLC P.O. Box 121616 Nashville, TN 37212 Telephone: (615) 869-0634 Facsimile: (615) 307-6076 david@exolegal.com First Chatham Bank, as secured creditor, is represented by: Bryan J. Sisto, Esq. Frost Brown Todd LLP 400 W. Market Street, Suite 3200 Louisville, KY 40202 Telephone: (502) 589-5400 Facsimile: (502) 581-1087 bsisto@fbtlaw.com About Bartram Logistics LLC Bartram Logistics, LLC, doing business as Bartram Electric, operates as an electrical subcontractor providing installation and related services for construction projects in the Southeastern United States. The company focuses on multifamily, hotel, and restaurant developments and undertakes electrical scopes of work under general contractors. It has completed more than 70 projects in the region and continues to work on dozens of active and contracted assignments. Bartram Logistics sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Tenn. Case No. 25-03788) on September 9, 2025. In its petition, the Debtor reported between $1 million and $10 million in assets and liabilities. Honorable Bankruptcy Judge Randal S. Mashburn handles the case. The Debtor is represented by Erin Malone-Smolla, Esq., at Bradley Arant Boult Cummings, LLP. BELLA FAMILY: Gets Interim OK to Use Cash Collateral ---------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Florida entered a second interim order allowing Bella Family Dental, Inc. to use the cash collateral of PNC Bank, N.A. to continue operating its business during Chapter 11 proceedings. Under the order, the Debtor is authorized to use cash collateral strictly in accordance with an approved budget covering ordinary business expenses and administrative costs. However, the use is limited to interim relief, and the Debtor cannot use funds outside the terms of the order or for non-ordinary course transactions. PNC Bank, the secured lender, holds a claim of $546,098.66, secured by all assets of the Debtor, including cash collateral. As adequate protection, PNC Bank will be granted replacement liens on all existing and future assets of the Debtor, along with superpriority administrative claims to the extent its collateral value diminishes. Additionally, the Debtor must make monthly payments of $9,855.71 toward principal and interest. The order preserves all rights of PNC Bank and other parties, allowing them to challenge issues such as collateral value, plan terms, or further relief. A final hearing on continued use of cash collateral is scheduled for April 20. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/MmcXR from PacerMonitor.com. About Bella Family Dental, Inc. Bella Family Dental, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-11969) on February 18, 2026, with $500,001 to $1 million in assets and $1,000,001 to $10 million in liabilities. Judge Laurel M. Isicoff presides over the case. Richard R. Robles, Esq., represents the Debtor as legal counsel. BORDEN DAIRY: Court Dismisses Donaldson Case with Prejudice ----------------------------------------------------------- Judge Sam A. Lindsay of the U.S. District Court for the Northern District of Texas accepts the Findings, Conclusions and Recommendation of the United States Magistrate Judge in the case captioned as ROBERT LEON DONALDSON, Plaintiff, v. HILAND DAIRY; BORDEN DAIRY; LANORA WYATT; NATE GLOSSER; and MICHAEL GREEN, Defendants, Case No. 3:25-cv-02649-L-BN (N.D. Tex.). The Report recommended that the court dismiss with prejudice this action and Mr. Donaldson's federal and state employment law claims for sexual harassment and race discrimination. Supplemental objections to the Report filed by Plaintiff Robert Leon Donaldson, who is proceeding pro se and in forma pauperis, are overruled. In screening Plaintiff's pleadings, which consist of his Complaint and the dozens of attachments to his Complaint that were filed between October 1, 2025, and March 11, 2026, the magistrate judge liberally construed the pleadings as asserting claims under Title VII of the Civil Rights Act and Chapter 21 of the Texas Labor Code and concluded that the claims fail as a matter of law because they are time-barred as a result of Plaintiff's delaying several years after his allegedly unlawful termination on November 6, 2019, before filing a charge with the Equal Employment Opportunity Commission ("EEOC") on February 21, 2025. The magistrate judge also notes that, while Plaintiff alleges in his Complaint that he also filed a charge with the Texas Workforce Commission ("TWC") after his termination in November 2019, his EEOC charge states that: (1) he had not previously filed a charge with another agency, and (2) the TWC charge pertained to his unemployment, not the claims asserted by him in this action. The magistrate judge also rejected Plaintiff's assertion that his deadlines to file charges with the TWC or the EEOC were equitably tolled: (1) because he did not know about the EEOC; and (2) Borden Dairy filed a Chapter 11 bankruptcy proceeding in January 2020. The magistrate judge determined that Plaintiff's ignorance of the law is not a valid basis for tolling. The magistrate judge further determined that Plaintiff's assertion that Borden Dairy filed for bankruptcy "to try to cover up" the allegedly inappropriate hug on which his employment claim or claims are based is "factually frivolous,"1 but, in any event, the bankruptcy would not have prevented him from timely filing a charge with the TWC or EEOC, and this does not explain why he delayed until 2025 to file an EEOC charge after the bankruptcy case concluded in December 2021. The magistrate judge reasoned that, at most, the bankruptcy proceeding and stay would have only affected Plaintiff's ability to prosecute his claims after filing suit. The large majority of Plaintiff's objections repeats his assertion about wanting to bring a fraudulent concealment claim against all Defendants in this case. After considering Plaintiff's pleadings, the Report, and record in this case, and having conducted a de novo review of that portion of the Report to which objection was made by Plaintiff, the court determines that the magistrate judge's findings and conclusions are correct, and accepts them as those of the court. Despite the numerosity of Plaintiff's filings in this case, he has failed to identify any factual allegations (whether new or old) that would save his discrimination claims from being time-barred or that would support new unrelated standalone claims for fraud. The court, therefore, determines that he has pleaded his "best case" such that amendment would be futile and unnecessarily delay the resolution of this litigation. Accordingly, the court dismisses with prejudice this action and Plaintiff's discrimination claims against Defendants under 28 U.S.C. Sec. 1915(e)(2)(B) for failure to state a claim upon which relief can be granted. Based on the Report, the court concludes that any appeal of this action by Plaintiff would present no legal point of arguable merit and would, therefore, be frivolous. A copy of the Court's Order dated April 9, 2026, is available at http://urlcurt.com/u?l=h45o1qfrom PacerMonitor.com. About Borden Dairy Borden Dairy Company -- http://www.bordendairy.com/-- is a processor and direct-to-store distributor of fresh fluid milk, dairy case products, and other beverages. It produces and distributes a wide variety of branded and private label traditional, flavored, and specialty milk, buttermilk, dips, and sour cream, juices, tea, and flavored drinks to mass merchandisers, educational institutions, food service retailers, grocery stores, drug stores, convenience stores, food, and beverage wholesale distributors, and retail warehouse club stores across the United States. Headquartered in Dallas, Borden Dairy operates 12 milk processing plants and nearly 100 branches across the U.S. It was founded in 1857 by Gail Borden, Jr. Borden Dairy was estimated to have $100 million to $500 million in assets and liabilities as of the bankruptcy filing. Borden Dairy and its subsidiaries sought Chapter 11 protection (Bankr. D. Del. Lead Case No. 20-10010) on January 5, 2020. Judge Christopher S. Sontchi oversees the case. The Debtors tapped Arnold & Porter Kaye Scholer LLP as general bankruptcy counsel; Young Conaway Stargatt & Taylor LLP as special counsel; and Donlin Recano as the claims agent. BOSTIC ENTERPRISE: Files Emergency Bid to Use Cash Collateral -------------------------------------------------------------- Bostic Enterprise Alliance Inc. asks the U.S. Bankruptcy Court for the Western District of Kentucky, Louisville Division, for authority to use cash collateral and provide adequate protection. Reliable Capital Advance LLC asserts an interest in the Debtor's cash collateral, although the validity, extent, and priority of that interest remain subject to further review. Additionally, the court notes that the Debtor had not yet made a required $5,000 payment to its counsel under a prior interim order. The Debtor's ability to use cash collateral is critical to maintaining ongoing operations and preserving the value of the bankruptcy estate. Without such access, the Debtor would be unable to meet post-petition obligations, leading to operational shutdown and deterioration of asset value, thereby causing immediate and irreparable harm. The Debtor seeks to use cash collateral in the ordinary course of business through June 30 for necessary expenses such as trade payables, insurance, taxes, utilities, administrative costs, employee compensation, and court-approved adequate protection payments. To protect the interests of the secured creditor, the Debtor grants Reliable Capital Advance LLC a replacement lien on post-petition assets, maintaining the same priority and scope as its prepetition lien, but only to the extent of the cash collateral actually used. This lien is deemed valid, perfected, and enforceable without further action. However, these replacement liens do not prime any existing liens held by other parties. A copy of the agreed interim order is available at https://urlcurt.com/u?l=ru6Hc2 from PacerMonitor.com. About Bostic Enterprise Alliance Inc. Bostic Enterprise Alliance, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Ky. Case No. 26-30247) on February 4, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Joan A. Lloyd presides over the case. Charity S. Bird, Esq., at Kaplan Johnson Abate & Bird, LLP represents the Debtor as legal counsel. BRANAVA INC: Gets Interim OK to Use Cash Collateral Until June 4 ---------------------------------------------------------------- Branava Inc. received interim approval from the U.S. Bankruptcy Court for the District of Massachusetts to use cash collateral through June 4. The Debtor is ordered to file, on or before June 2, a reconciled budget showing actual to projected income and expenses for the period ending May 31, 2026, as well as beginning and ending bank balances monthly, and a projected budget for June, July and August, 2026. The deadline for Debtor to file an amended plan is April 22. The next hearing is scheduled for June 4. The interim order is available at https://shorturl.at/GUrt9 from PacerMonitor.com. The secured creditors are the U.S. Small Business Administration, Cadence Bank, and Idea 247, Inc., which, as of the petition date, assert claims of $150,000, $60,000, and $90,000, respectively. These creditors a security interest in the Debtor's personal property. About Branava Inc. Branava Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Mass. Case No. 26-40063) on January 22, 2026, listing under $1 million in both assets and liabilities. Stephen Darr of Huron Consulting Group serves as Subchapter V trustee. The Debtor is represented by Christopher L. Murray, Esq., at Murray Law Firm, P.C. BRAND ARMY: Gets Final OK to Use Cash Collateral ------------------------------------------------ Brand Army, Inc. received final approval from the U.S. Bankruptcy Court for the Central District of California, San Fernando Valley Division, to use cash collateral to fund operations. Under the final order, the Debtor is authorized to use cash collateral through May 31, strictly in line with an amended budget (which removed M&A advisory expenses). The Debtor is allowed a 20% variance on both individual line items and overall spending, with unused variances carrying forward. As adequate protection, secured creditors will be granted replacement liens on assets of the Debtor, with the same validity, priority and extent as their pre-bankruptcy liens. The replacement liens do not apply to any Chapter 5 avoidance actions. Additionally, the Debtor will receive superpriority administrative expense claims in case of any post-petition diminution in value of their pre-bankruptcy collateral. Additionally, all banks must release holds on the Debtor's accounts, allowing normal business operations, including payments under the budget and withdrawals by content creators. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/PAiTb from PacerMonitor.com. Brand Army operates a creator-monetization platform, recently rebranded from Brand Army to Wink following negative publicity and revenue decline. Cash flow problems worsened after costly merchant cash advances and credit card processor reserves. A recent search of UCC-1 financing statements against the Debtor indicates that First Corporate Solutions, Smart Business, Oliver Cruz, and a group of syndicate lenders claim blanket liens that extend to the Debtor's cash collateral, asserting total claims of $606,645. About Brand Army Inc. Brand Army, Inc. operates a creator-monetization platform, rebranded from BrandArmy to Wink following negative publicity and revenue decline. Brand Army sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-10412) on February 27, 2026, with up to $10 million in both assets and liabilities. Ramon Mendez, president, signed the petition. Judge Victoria S. Kaufman oversees the case. Ron Bender, Esq., at Levene, Neale, Bender, Yoo & Golubchik L.L.P., represents the Debtor as legal counsel. BY HOTEL: Gets Interim OK to Use Cash Collateral ------------------------------------------------ The U.S. Bankruptcy Court for the District of Delaware entered a second interim order allowing BY Hotel SPE-3 LLC and its affiliated debtors to continue using cash collateral during their Chapter 11 proceedings. The order authorizes the use of cash collateral through May 8 or until an earlier termination event, subject to compliance with an approved budget. The debtors must deposit all cash into designated operating accounts and may only use funds for ordinary-course expenses outlined in the budget, with up to a 15% permitted variance. Weekly variance reports and additional financial disclosures are required to ensure transparency. As adequate protection for the secured lender, ACORE Capital Mortgage, LP, the Court granted replacement liens on the debtors' pre- and postpetition assets. Additionally, the lender is permitted to retain over $3.2 million in a suspense account, including funds earmarked for real estate taxes and a substantial portion serving as an adequate protection payment, while reserving all rights regarding its claims. The order also establishes a carve-out for professional fees and U.S. Trustee fees and defines events that would terminate the use of cash collateral, including failure to comply with the budget, appointment of a trustee, or case conversion. A final hearing on continued use of cash collateral is scheduled for May 8, with objections due by May 1. About By Hotel SPE-3 LLC By Hotel SPE-3 LLC is a hospitality investment company specializing in the ownership and management of hotel properties. As a special purpose entity, the company focuses on managing hotel-related assets and supporting hospitality operations. By Hotel SPE-3 LLC and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 26-10324) on March 8, 2026. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million. C & C SECURITY: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------------- Debtor: C & C Security Patrol, Inc. 44577 South Grimmer Blvd. Fremont, CA 94538 Business Description: C & C Security Patrol, Inc., based in Fremont, California, provides private security services including on-site guarding, mobile patrols, and event security across the San Francisco Bay Area. Operating 24/7, the company deploys licensed security personnel to support residential, commercial, and industrial properties throughout counties such as Alameda, Santa Clara, and Contra Costa. Its clients include property managers, businesses, and event organizers seeking contracted protection and patrol services. Chapter 11 Petition Date: April 14, 2026 Court: United States Bankruptcy Court Northern District of California Case No.: 26-40766 Judge: Hon. William J Lafferty Debtor's Counsel: Robert L. Goldstein, Esq. LAW OFFICES OF ROBERT L. GOLDSTEIN 100 Bush Street, Suite 501 San Francisco, CA 94104 Tel: 415-391-8710 Fax: 415-391-8701 E-mail: rgoldstein@taxexit.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Hermenegildo (Gildo) Couoh as chief executive officer. 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/ZP35N2Y/Eduardo_C__C_Security_Patrol__canbke-26-40766__0001.0.pdf?mcid=tGE4TAMA CAPSTONE GREEN: Monarch Alternative Holds 42.1% Voting Common Stock ------------------------------------------------------------------- Monarch Alternative Capital LP, together with MDRA GP LP and Monarch GP LLC, disclosed in a Schedule 13D (Amendment No. 14) filed with the U.S. Securities and Exchange Commission that as of March 31, 2026, they beneficially own 19,333,334 shares of Capstone Green Energy Holdings, Inc.'s Voting Common Stock, par value $0.001 per share, representing 42.1% of the Voting Common Stock. This amount consists of 3,333,334 shares of Common Stock directly acquired and 16,000,000 shares of Common Stock issuable upon conversion of 80,000 shares of newly issued Series A Convertible Preferred Stock (at the initial conversion price of $5.00 per share). The percentages are calculated based on 22,976,840 shares of Common Stock outstanding as of February 12, 2026, plus additional shares issued in a concurrent private placement and the shares issuable upon conversion of the Series A Preferred Stock. On March 31, 2026, the Monarch Funds (advised by Monarch Alternative Capital LP) purchased these securities pursuant to a Securities Purchase Agreement for an aggregate of approximately $95 million ($15 million for the Common Stock at $4.50 per share and $80 million for the Series A Preferred Stock at $1,000 per share). The proceeds are primarily being used to redeem preferred units of a subsidiary and for business growth/working capital. The Series A Preferred Stock carries a 5.0% cumulative dividend (payable in kind, with potential increases), senior liquidation preference, optional and forced conversion rights, board appointment rights (two directors if ≥20% as-converted ownership), consent rights on certain actions, pre-emptive rights, and other protective provisions. Monarch Alternative Capital LP may be reached through: Colin J. Daniels, Esq. Monarch Alternative Capital LP 535 Madison Avenue New York, NY 10022 Tel: (212) 554-1700 A full-text copy of Monarch Alternative Capital LP (and related reporting persons)'s SEC report is available at: https://tinyurl.com/2t5k2vmj About Capstone Green Energy Capstone Green Energy builds microturbine energy systems and battery storage systems that allow customers to produce power on-site in parallel with the electric grid or stand-alone when no utility grid is available. Capstone Green offers microturbines designed for commercial, oil and gas, and other industrial applications. Los Angeles, Calif.-based CBIZ CPAs P.C., the Company's auditor since 2017 since 2017 (such date takes into account the acquisition of the attest business of Marcum LLP by CBIZ CPAs P.C. effective November 1, 2024), issued a "going concern" qualification in its report dated June 26, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2025, citing that the Company has a significant working capital deficiency, has incurred significant losses and needs to raise additional funds to meet its obligations and sustain its operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. As of December 31, 2025, the Company had $87.7 million in total assets, $80.1 million in total liabilities, $70.9 million in temporary equity (redeemable noncontrolling interests), and a $63.3 million stockholders' deficit. CARPENTER FAMILY: Plan Exclusivity Period Extended to May 11 ------------------------------------------------------------ Judge Andrea K. McCord of the U.S. Bankruptcy Court for the Southern District of Indiana extended Carpenter Family Farms, LLC and affiliates' exclusive periods to file a plan of reorganization to May 11, 2026. As shared by Troubled Company Reporter, the Debtors claim that they are continuing to work toward liquidating some of their assets. Once those assets are sold, the Debtors will be able to propose a plan of reorganization together with a disclosure statement. The Debtors explain that the interests of all parties are best served by allowing the Debtors an extension of time for the exclusivity period so as to be able to submit a feasible plan of reorganization. The Debtors believe that they need an additional sixty days authorized by Section 1121 of the Bankruptcy Code, or to and including May 11, 2026, to make the necessary changes to their business operations to submit a disclosure statement and plan of reorganization. Carpenter Family Farms, LLC is represented by: Jeffrey M. Hester, Esq. Allman Kight Hester LLC One Indiana Square, Suite 1330 Indianapolis, IN 46204 Tel: (317) 833-3030 Fax: (317) 833-3031 E-mail: jhester@akhlaw.com About Carpenter Family Farms LLC Carpenter Family Farms, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Ind. Case No. 25-05527) on Sept. 12, 2025, listing between $1 million and $10 million in assets and between $10 million and $50 million in liabilities. Judge Andrea K. Mccord presides over the case. Jeffrey M. Hester, Esq., at Hester Baker Krebs, LLC, is the Debtor's legal counsel. CASKATA INC: Seeks Cash Collateral Access ----------------------------------------- Caskata Incorporated, asks the U.S. Bankruptcy Court for the District of Massachusetts, Eastern Division, for authority to use cash collateral and provide adequate protection. The Small Business Administration and Citizens Bank, N.A. Assert interests in the cash collateral. Caskata, founded in 2007 and based in Massachusetts, operates an e-commerce business selling high-end home goods through its website, Amazon, and wholesale channels. It maintains a retail location and a warehouse used for inventory storage and fulfillment. Financial difficulties arose due to burdensome debt obligations, including an SBA loan of approximately $800,000 and a Citizens Bank line of credit of roughly $486,000, the latter holding first priority under a subordination agreement. Additional short-term financing and credit card debt further strained liquidity, ultimately leading to the bankruptcy filing. The Debtor argues that immediate access to cash collateral—primarily derived from inventory and receivables—is essential to fund ongoing operations, including rent, inventory procurement, and essential business expenses. A 13-week budget outlines anticipated cash flow and assumes a critical inventory purchase by a prospective management partner, which is necessary to sustain sales. Without authorization to use cash collateral, the Debtor warns that operations would cease, jeopardizing its status as a going concern and potentially undermining a pending offer to purchase its assets. Caskata proposes providing adequate protection to secured creditors through continued business operations that preserve asset value and through replacement liens on postpetition assets. The Debtor emphasizes that maintaining operations will maximize the value of the estate and benefit creditors overall, especially in light of a potential asset sale. It also commits to monthly financial reporting to secured creditors. A copy of the motion is available at https://urlcurt.com/u?l=0myE7U from PacerMonitor.com. About Caskata Incorporated Caskata Incorporated operates an e-commerce business selling high-end home goods through its website, Amazon, and wholesale channels. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Mass. Case No. 26-10775) on April 7, 2026. In the petition signed by Shawn Laughlin, president, the Debtor disclosed up to $500,000 in assets and up to $10 million in liabilities. Jesse Redlener, Esq., at Ascendant Law Group, LLC, represents the Debtor as legal counsel. CHANNEL OP: Case Summary & 12 Unsecured Creditors ------------------------------------------------- Debtor: Channel OP LLC d/b/a Apoth LLC d/b/a Nicole and Brizee d/b/a Tricho Labs 139 E 1720 N Heber City, UT 84032 Business Description: Channel OP LLC, based in Heber City, Utah, provides Amazon marketplace account management services, including listing creation and optimization, advertising management, inventory planning, reporting, and error resolution. The company supports brands in managing and growing their presence on Amazon through channel control and brand protection services. Chapter 11 Petition Date: April 13, 2026 Court: United States Bankruptcy Court District of Utah Case No.: 26-22035 Judge: Hon. Michael F Thomson Debtor's Counsel: George B. Hofmann, Esq. COHNE KINGHORN, P.C. 111 E. Broadway, 11th Floor Salt Lake City, UT 84111 Tel: 801-363-4300 Total Assets as of February 28, 2026: $1,969,415 Total Liabilities as of February 28, 2026: $2,561,526 The petition was signed by William Tyler Metcalf as chief executive officer. A copy of the Debtor's list of its 12 unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/ROKXKSA/Channel_OP_LLC__utbke-26-22035__0002.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/RB3YABY/Channel_OP_LLC__utbke-26-22035__0001.0.pdf?mcid=tGE4TAMA CHARLES & COLVARD: Bankr. Administrator Cannot Appoint Committee ---------------------------------------------------------------- The U.S. Bankruptcy Administrator for the Eastern District of North Carolina disclosed in a filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Charles & Colvard Ltd. About Charles & Colvard Ltd. Charles & Colvard Ltd. is a jewelry manufacturer known for its lab-grown moissanite gemstones. Charles & Colvard Ltd. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.C. Case No. 26-00969) on March 2, 2026. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Judge David M Warren oversees the case. The Debtor is represented by Rebecca Redwine Grow, Esq., and Jason L. Hendren, Esq., of Hendren Redwine & Malone, PLLC. CHINO CENTRAL: U.S. Trustee Unable to Appoint Committee ------------------------------------------------------- The U.S. Trustee for Region 16 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Chino Central Group, LLC. About Chino Central Group LLC Chino Central Group LLC is a single asset real estate company. Chino Central Group LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-10925) on March 24, 2026, with between $10 million and $50 million in both assets and liabilities. Honorable Bankruptcy Judge Scott C. Clarkson handles the case. The Debtor is represented by Kyra E. Andrassy, Esq., at Raines Feldman Littrell, LLP. CHIRON COMMUNICATION: Case Summary & 20 Top Unsecured Creditors --------------------------------------------------------------- Debtor: Chiron Communication Services, LLC 13827 Caven St. Humble, TX 77396 Business Description: Chiron Communication Services, LLC is a telecommunications infrastructure contractor based in Humble, Texas, founded in 2006. The company specializes in fiber optic and copper network installation, structured cabling, and outside plant engineering services for commercial, government, and institutional clients. It provides end-to-end deployment services, including splicing, testing, underground and aerial construction, and maintenance of communications networks, supporting large-scale connectivity projects across the United States. Chapter 11 Petition Date: April 13, 2026 Court: United States Bankruptcy Court Southern District of Texas Case No.: 26-32549 Debtor's Counsel: Matthew Hoffman, Esq. HOFFMAN & SAWERIS, P.C. 2777 Allen Parkway, Suite 1000 Houston, TX 77019 Tel: 713-654-9990 E-mail: matthew@mhsawlaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Courtney McMaster as president. 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/CGN4EUQ/Chiron_Communication_Services__txsbke-26-32549__0003.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/TTPY4NI/Chiron_Communication_Services__txsbke-26-32549__0001.0.pdf?mcid=tGE4TAMA CLAY STREET: Business Operations & Sale Proceeds to Fund Plan ------------------------------------------------------------- Clay Street Commons, LLC filed with the U.S. Bankruptcy Court for the Middle District of Tennessee a Disclosure Statement to accompany Plan of Reorganization dated April 6, 2026. The Debtor owns certain real property that is a 63-unit multi family residential development and 4-unit commercial development located on Ninth Avenue North in Nashville, Tennessee. For purposes of the Plan, this development is defined as the Project. The Debtor's income is primarily derived from rent paid by the tenants who rent units at the Project. Bank of Labor asserts a secured claim against the Debtor in the approximate amount of $11.8 million. Pursuant to a UCC-1 Financing Statement and Deed of Trust, Security Agreement, Assignment of Rents and Fixture Filing, Bank of Labor claims a security interest or lien in all assets of the Debtor. On January 6, 2026, the Debtor filed a voluntary petition for relief under the Bankruptcy Code with the United States Bankruptcy Court for the Middle District of Tennessee, initiating this Chapter 11 Case, so that the Debtor could maintain operations while comprehensively reorganizing its financial affairs in a way to maximize value for all parties. The breathing spell offered by bankruptcy has enabled the Debtor to accomplish this goal, as reflected in the Plan. Class 4 consists of Allowed General Unsecured Claims. Paid from the net proceeds of the sale of the Project, the net proceeds of the Debtor Causes of Action and other assets of the Debtor, during the Plan Term, after payment in full of Allowed Administrative Claims, the Class 1 Claim, the Class 2 Claim, Unsecured Priority Tax Claims and the Class 3 Claims. This Class is impaired. Class 5 consists of Interest Holders. No distribution or economic recovery unless and until the Allowed Administrative Claims, the Class 1 Claim and the Class 2 Claim are paid in full, and the Class 3 Claims and Class 4 Claims are paid, up to the Allowed Amount of such Claims the funds available to the Debtor during the Plan Term from the net proceeds of the sale of the Project, the net proceeds of the Debtor Causes of Action and other assets of the Debtor after payment in full in full of Allowed Administrative Claims, the Class 1 Claim and the Class 2 Claim. The Reorganized Debtor will be authorized and empowered to take such actions as are required to effectuate the Plan. The Reorganized Debtor will file all post-confirmation reports required by the United States Trustee's office. The Reorganized Debtor will also file the necessary final reports and will apply for a final decree as soon as practicable after Substantial Consummation and the completion of the claims analysis and objection process. The sources of funds for the payments pursuant to the Plan are the Reorganized Debtor's business operations and the sale of the Project. The Debtor currently projects positive weekly net operating income of approximately $3,700.00 through the anticipated closing date of the sale of the Project. While the Chapter 11 Case has been pending, the Debtor has also established a positive cash position, which can be used to pay Allowed Administrative Claims and continued the Reorganized Debtor's operations following Confirmation. The Debtor believes there is equity in the Project if properly marketed outside of a foreclosure context. The occupancy and finances of the Project are stable and will permit the Project to remain a going concern during the marketing and sale period. The Debtor believes the Project has sufficient value from its sale to very likely satisfy the Class 1 and Class 2 Claims and likely all Allowed Claims. The Plan will enable the Debtor to remain in business and meet Plan terms without the need for further financial reorganization. A full-text copy of the Disclosure Statement dated April 6, 2026 is available at https://urlcurt.com/u?l=aYcVf3 from PacerMonitor.com at no charge. Counsel to the Debtor: Austin McMullen, Esq. Bradley Arant Boult Cummings LLP 1221 Broadway, Suite 2400 Nashville, TN 37203 Phone: (615) 244-2582 Email: amcmullen@bradley.com About Clay Street Commons LLC Clay Street Commons, LLC owns and manages a residential property at 1919 Ninth Avenue North in Nashville, Tennessee. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Tenn. Case No. 26-00026) on Jan. 6, 2026. In the petition signed by Scott Woosley as the authorized individual, the Debtor disclosed up to $50 million in both assets and liabilities. Judge Randal S. Mashburn oversees the case. Austin McMullen, at Bradley Arant Boult Cummings, LLP, is the Debtor's legal counsel. CLEANCO CARPET: Gets Final OK to Use Cash Collateral ---------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of Washington, Spokane granted Cleanco Carpet, Window & Air Duct Cleaning, LLC final approval to use cash collateral. Under the final order, the Debtor is authorized to use cash collateral through June 15 in accordance with a court-approved budget. The order allows flexibility for the Debtor to extend the budget up to 21 weeks, provided that such extension is approved by both the Subchapter V Trustee and the U.S. Trustee and is consistent with prior testimony presented to the court. As adequate protection, secured creditor NewTek Bank, National Association will be granted replacement liens on post-petition assets, including cash, accounts receivable, inventory, and their proceeds, to the same extent and priority as its pre-petition liens. Additionally, the Debtor must make monthly payments of $2,000, as outlined in the budget but is not required to provide any further protection for any potential decline in the value of the creditor's collateral. The order remains effective until plan confirmation or expiration of the budget period, providing a longer-term framework for the Debtor's operations during the bankruptcy case. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/wpipF from PacerMonitor.com. About Cleanco Carpet, Window & Air Duct Cleaning Cleanco Carpet, Window & Air Duct Cleaning, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Wash. Case No. 26-00422) on March 10, 2026, with $500,001 to $1 million in assets and $1 million to $10 million in liabilities. The petition was signed by Craig Elmblad as member. Judge Hon. Frederick P Corbit oversees the case. The Debtor is represented by: Steven M Palmer, Esq. Cairncross & Hempelmann, P.S. Tel: 206-254-4453 Email: spalmer@cairncross.com CN HOLDINGS: Seeks Cash Collateral Access ----------------------------------------- CN Holdings, LLC asks the U.S. Bankruptcy Court for the District of Utah for authority to use cash collateral and provide adequate protection. The cash collateral is subject to liens held by the U.S. Small Business Administration, Amur Equipment Finance, Inc., Great America Financial Services Corporation (d/b/a IRH Capital), and an unidentified creditor through CT Corp. Systems. The cash collateral will be used to purchase weekly inventory—bread, meat, cheese, produce, and other necessary items—for the Debtor's Firehouse Subs franchise locations across Utah and Idaho, ensuring continued operations of its restaurants. The Debtor also proposes to provide adequate protection to the lienholders through continuing replacement liens on post-petition inventory. CN Holdings filed for Chapter 11 Subchapter V bankruptcy, intending to restructure by selling unprofitable locations and maintaining core profitable locations with the support of the franchisor, thereby preserving jobs, maximizing asset value, and preventing uneconomic liquidation. The Debtor emphasizes the immediate necessity of cash collateral to fund weekly inventory and maintain the business as a going concern, noting that failure to authorize its use would cause irreparable harm to the estate, its creditors, and equity holders. A copy of the motion is available at https://urlcurt.com/u?l=BXToWm from PacerMonitor.com. About CN Holdings, LLC CN Holdings, LLC is a holding company engaged in managing investments and overseeing affiliated business operations. The company focuses on asset management and strategic investment activities across various sectors. CN Holdings, LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-21555) on March 23, 2026. In its petition, the Debtor reports estimated assets between $0 and $100,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Michael F. Thomson handles the case. The Debtor is represented by Brian M. Rothschild, Esq. of Parsons Behle & Latimer. CNY SEALCOATING: Gets Final OK to Use Cash Collateral ----------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of New York entered a final order allowing CNY Sealcoating & Concrete, LLC to use cash collateral. The Debtor's cash collateral includes proceeds from pre-petition loans held by the U.S. Small Business Administration, which has first-lien security on all collateral. The total secured indebtedness under the SBA loans is approximately $1,510,768. Under the final order, the Debtor is authorized to use cash collateral only in accordance with the approved budget, with deviations of up to 15% permitted cumulatively. As adequate protection, the SBA will be granted replacement and additional liens on all property of the Debtor to the extent of any diminution in value of pre-petition collateral, as well as a superpriority administrative claim. The Debtor is also required to make monthly adequate protection payments of $2,066 to the SBA and continue paying $1,000 per month toward Subchapter V trustee fees pending further order of the court. The Debtor must provide financial reporting and accounting, especially if there are material deviations from the budget. Termination events that would end the Debtor's right to use cash collateral include default under the final order, case conversion and appointment of a trustee. Upon such events, the SBA may enforce its rights after notice. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/IevTi from PacerMonitor.com. About CNY Sealcoating & Concrete LLC CNY Sealcoating & Concrete, LLC, operating from Clinton, New York, provides concrete and sealcoating services, including installation, repair, and maintenance of driveways, patios, and slabs. It operates within the construction and paving sector, serving residential and commercial clients in the region. CNY filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D.N.Y. Case No. 25-61114) on December 11, 2025, with $1 million to $10 million in assets and liabilities. Mariano Jellencich, president of CNY, signed the petition. Judge Patrick G. Radel presides over the case. Anthony Sodono, III, Esq., at McManimon, Scotland & Baumann, LLC represents the Debtor as legal counsel. COMMUNITY AUTOMOTIVE: Seeks Interim Cash Collateral Access ---------------------------------------------------------- Community Automotive Repair, LLC asks the U.S. Bankruptcy Court for the Western District of Washington, Seattle, for emergency authorization for the interim use of cash collateral and provide adequate protection. Specifically, the Debtor seeks to use cash on hand to cover operational expenses, including payroll and owner draws, as outlined in a proposed budget covering the period from March 27 through July, or until the effective date of the Debtor's Chapter 11 plan, whichever comes first. The Debtor further requests that the Court grant post-petition replacement liens to secured creditors as adequate protection for their interests and schedule a final hearing on these matters at least 14 days after service of the request. The Debtor's cash collateral is currently limited to $24,988, with secured creditors' claims totaling approximately $177,903. The Debtor identifies five potential secured creditors—Kalamata Capital, OnDeck Capital, Funding Metrics LLC, Velocity Capital Group, and Stripe Capital—based on UCC-1 financing statements. The Debtor asserts that immediate use of cash collateral is critical to prevent disruption of operations and to avoid irreparable harm to the business. To ensure adequate protection, the Debtor proposes granting replacement liens on post-petition assets and providing financial reporting through monthly operating reports. A copy of the motion is available at https://urlcurt.com/u?l=jkj0EY from PacerMonitor.com. About Community Automotive Repair LLC Community Automotive Repair, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wash. Case No. 26-10953-TWD) on March 27, 2026. In the petition signed by Gregory Hulse, owner, the Debtor disclosed up to $500,000 in both assets and liabilities. Judge Timothy W. Dore oversees the case. Karen E. Richmond, Esq., at Richmond Hill, PLLC, represents the Debtor as legal counsel. CUMULUS MEDIA: Bankruptcy Court Approves Plan of Reorganization --------------------------------------------------------------- Cumulus Media Inc. announced on April 15, 2026, that the United States Bankruptcy Court for the Southern District of Texas has approved its previously disclosed Plan of Reorganization. With approval secured, Cumulus expects to emerge from Chapter 11 following Federal Communications Commission approval. The Company continues to operate its business as usual throughout this process. "When we initiated this prepackaged restructuring in March, we did so with a clear objective: to right-size our balance sheet to support long-term success," said Mary G. Berner, President and CEO of Cumulus Media. "The court's prompt approval of our plan keeps us firmly on track to eliminate approximately $600 million in debt and positions us to emerge with a significantly stronger financial foundation. We look forward to completing the restructuring and emerging as a well-capitalized company, better equipped to compete in the evolving audio landscape." Additional information regarding the restructuring is available at www.cumulus.com/restructuring. About Cumulus Media Inc. 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 Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 26-90346) on March 5, 2026. In the petition signed by Richard Denning, Executive Vice President, Secretary & General Counsel, the Debtor disclosed up to $10 billion in both assets and liabilities. As of Sept. 30, 2025, the Company had $1,078,217,000 in total assets, $1,135,135,000 in total liabilities. Judge Alfredo R. Perez oversees the case. Lawyers at Paul, Weiss, Rifkind, Wharton & Garrison LLP serve as counsel. Porter Hedges LLP, represents the Debtor as local counsel. The Debtors hired as Alvarez & Marsal North America, LLC as restructuring advisor; Moelis & Company as financial advisor; and Kurtzman Carson Consultants, LLC d/b/a Verita Global as claims, noticing, solicitation & certification agent. CYCLERION THERAPEUTICS: Reports $3.5 Million Net Loss for 2025 -------------------------------------------------------------- Cyclerion Therapeutics, Inc. filed with the U.S. Securities and Exchange Commission its Annual Report on Form 10-K, reporting a net loss of $3.5 million for the year ended December 31, 2025, compared to a net loss of $3.1 million for the year ended December 31, 2024. Total revenues for the year ended December 31, 2025, was $2.1 million compared to $2 million in the prior period. Boston, Massachusetts-based Ernst & Young LLP, the Company's auditor since 2018, issued a "going concern" qualification in its report dated March 30, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has suffered recurring losses from operations, has limited financial resources, and has stated that substantial doubt exists about the Company's ability to continue as a going concern. As of December 31, 2025, the Company had unrestricted cash and cash equivalents of approximately $3.2 million. In addition, as of December 31, 2025, it had an accumulated deficit of $271.0 million. The Company expects that its cash and cash equivalents as of December 31, 2025, will be sufficient to fund operations through mid-2026, however the Company will need to obtain additional funding to sustain operations as it expects to continue to generate operating losses for the foreseeable future. The Company's expectation to generate negative operating cash flows in the future and the need for additional funding to support its planned operations, raise substantial doubt regarding the Company's ability to continue as a going concern. Management's plans to alleviate the conditions that raise substantial doubt include reduced spending, and the pursuit of additional capital. Management has concluded the likelihood that its plan to successfully obtain sufficient funding, or adequately reduce expenditures, while reasonably possible, is less than probable. The Company said, "We will require significant additional funding to advance any of our product candidates beyond the short term and to sustain our operations. In the event that we are unable to raise the capital necessary, we may need to curtail our operations or cease operations altogether. Because there is substantial doubt about our ability to continue as a going concern for a reasonable period of time, an investment in our common stock is highly speculative and holders of our common stock could suffer a total loss of their investment." "We may also seek to raise such capital through public or private financing of our securities, royalty financing or debt financing. Raising funds in the current economic environment is, and may in the future, continue to be challenging, and such financing may not be available in sufficient amounts or on acceptable terms, if at all. The terms of any financing may harm existing shareholders. The issuance of additional securities, whether equity or debt, or the possibility of such issuance, may cause the market price of our shares to decline. The sale of additional equity or convertible securities would dilute the ownership of existing shareholders. "If we sell shares or other equity securities in one or more other transactions, or issue stock, stock options or other securities pursuant to our current equity plans, investors may be materially diluted by such subsequent issuances. We will need significant additional capital in the near term to continue our current plans. No assurance can be given that we will be able to obtain such funds upon favorable terms and conditions, if at all. Failure to do so could have a material adverse effect on our business. To the extent we raise additional capital by issuing equity securities, our stockholders would likely experience substantial dilution. We may sell common stock, preferred stock, convertible securities or other equity or convertible securities in one or more transactions that may include voting rights (including the right to vote as a series on particular matters), preferences as to dividends and liquidation, antidilution, and conversion and redemption rights, subject to applicable law, and at prices and in a manner we determine from time to time. Such issuances and the exercise of any convertible securities will dilute the percentage ownership of our stockholders and may affect the value of our capital stock and could adversely affect the rights of the holders of such stock, thereby reducing the value of such stock. Moreover, any exercise of convertible securities may adversely affect the terms upon which we will be able to obtain additional equity capital, since the holders of such convertible securities can be expected to exercise them at a time when we would, in all likelihood, not be able to obtain any needed capital on terms more favorable to us than those provided in such convertible securities. "Incurring debt, if available, would result in increased fixed payment obligations, and we may agree to restrictive covenants, such as limitations on our ability to incur additional debt or limitations on our ability to acquire, sell or license intellectual property rights that could impede our ability to conduct our business. In the event we are unable to raise financing, we may need to reduce or cease operations. "We also intend to seek funds through collaborations, strategic alliances, or licensing arrangements with third parties. Such agreements may adversely impact retained rights to our assets, technologies, future revenue streams and programs, especially those that receive regulatory approval." A full text copy of the Company's Form 10-K is available at https://tinyurl.com/389cn8dy About Cyclerion Therapeutics, Inc. Cyclerion Therapeutics, Inc. is a biopharmaceutical company focused on identifying, developing, and delivering promising therapies for central nervous system (CNS) diseases. As of December 31, 2025, the Company had $9,985,000 in total assets, $900,000 in total current liabilities, and $9,085,000 in total stockholders' equity. DAVENN LLC: Gets Final OK to Use Cash Collateral ------------------------------------------------ The U.S. Bankruptcy Court for the Southern District of Texas, Houston Division entered a final order authorizing Davenn, LLC to use cash collateral to fund operations. Under the Order, the Debtor is authorized to use cash collateral in accordance with an approved budget, including ordinary course revenues. The Debtor is permitted flexibility to spend up to 110% of individual budgeted line items, provided that total monthly expenditures do not exceed 110% of the overall budget. The Debtor projects 30-Days total cash disbursements of $51,327.08. As adequate protection, secured creditors are granted replacement liens on post-petition assets, including accounts receivable, contract rights, and deposit accounts, maintaining the same validity and priority as prepetition liens. However, these liens do not extend to Chapter 5 avoidance actions. The Order also preserves creditors' rights to object, seek additional protections, or challenge the use of cash collateral. A carve-out is established for administrative expenses, including court fees, U.S. Trustee fees, Subchapter V trustee fees, and Debtor's counsel fees. The Debtor's authority to use cash collateral will terminate upon certain events, including case dismissal, conversion, appointment of a trustee, or material default under the budget. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/wGO3C from PacerMonitor.com. About Davenn LLC Davenn, LLC operates a a preschool and early learning center. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-31079) on February 19, 2026. In the petition signed by Calvenn Wogou, managing member, the Debtor disclosed up to $50,000 in assets and up to $500,000 in liabilities. Judge Eduardo V. Rodriguez oversees the case. Manolo Santiago, Esq., at Herrin Law, PLLC, represents the Debtor as legal counsel. DAVID SCOTT: Files Emergency Bid to Use Cash Collateral ------------------------------------------------------- David Scott Lofton Contractors, LLC asks the U.S. Bankruptcy Court for the Southern District of Alabama for authority to use cash collateral and provide adequate protection. The Debtor, a construction-related service provider engaged in debris removal, hauling, land clearing, and related services, filed for bankruptcy on March 21 due to financial strain caused by vendor collection actions. It continues to operate its business and manage its affairs while attempting to reorganize. The Debtor emphasizes that access to cash collateral is essential to cover necessary expenses such as payroll, lease obligations, fuel, supplies, insurance, and utilities. Without such access, the Debtor argues it would suffer immediate and irreparable harm, jeopardizing its ability to maintain operations, retain employees, and preserve its value as a going concern. The Debtor outlines its financial position, noting minimal cash on hand (approximately $800) and accounts receivable under $20,000, with projected monthly income of about $75,000. It also identifies several creditors with potential secured interests in its assets through UCC filings, though it reserves the right to challenge the validity and extent of those claims. To comply with bankruptcy requirements, the Debtor acknowledges that it cannot use cash collateral without either creditor consent or court approval and must provide adequate protection to secured creditors. As such, it proposes granting replacement liens on post-petition receivables and future cash flow to protect any secured interests from diminution in value. A copy of the motion is available at https://urlcurt.com/u?l=msH2qz from PacerMonitor.com. About David Scott Lofton Contractors LLC David Scott Lofton Contractors, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ala. Case No. 26-10804) on March 21, 2026. In its petition, the Debtor disclosed up to $500,000 in assets and up to $1 million in liabilities. Judge Jerry C. Oldshue oversees the case. The Debtor is represented by Anthony B. Bush, Esq., at The Bush Law Firm, LLC. DAY TRANSLATIONS: Gets Extension to Access Cash Collateral ---------------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florida granted Day Translations, Inc. another extension to use cash collateral. The court entered its third interim order authorizing the Debtor's continued use of cash collateral to fund monthly payments to the Subchapter V trustee; pay the expenses set forth in the budget, plus an amount not to exceed 10% for each line item; and additional amounts approved in writing by the funders. As adequate protection, each secured creditor will be granted a perfected post-petition lien against cash collateral to the same extent and with the same validity and priority as the pre-petition lien. Additional protections include monthly reporting, maintaining insurance, and granting funders access to business records and premises upon notice. A continued hearing is scheduled for May 7. A copy of the court's order and the Debtor's budget is available at http://urlcurt.com/u?l=LO7Rxlfrom PacerMonitor.com. About Day Translations Inc. Day Translations, Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-00386) on January 19, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Matthew B. Hale, Esq., at Stichter, Riedel, Blain & Postler, represents the Debtor as legal counsel. DELANI CONSTRUCTION: Court Extends Cash Collateral Access to May 31 ------------------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, granted Delani Construction, LLC an extension to continue using cash collateral to fund operations. Under the court order, the Debtor is authorized to use cash collateral through May 31 in accordance with its 60-day budget outlining anticipated income and expenses. The extension is subject to the same terms and conditions set forth in the court's prior March 18 order, including adherence to the approved budget. No new modifications were introduced, and the earlier order remains fully in effect. The next hearing is set for May 27. The deadline for filing objections is on May 25. The order is available at https://shorturl.at/WCNSB from PacerMonitor.com. A copy of the Debtor's budget is available at https://urlcurt.com/u?l=796ceP from PacerMonitor.com. About Delani Construction LLC Delani Construction, LLC is a construction firm based in Monee, Illinois, specializing in residential construction, including single-family homes, home additions, and remodeling. It operates locally as a general contractor, providing services such as framing, excavation, and site work. Delani Construction sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-01384) on January 27, 2026. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million. Judge David D. Cleary oversees the case. The Debtor is represented by Saulius Modestas, Esq., Modestas Law Offices, P.C. DELLA RAGIONE: Gets Interim OK to Use Cash Collateral ----------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Pennsylvania authorized Della Ragione, Inc. to use cash collateral on an interim basis. Under the interim order, the Debtor is permitted to use cash collateral through April 28 to pay ordinary operating and capital expenses in accordance with an approved budget, which projects total operational expenses of $1,775 for April and $1,725 for May. Spending is subject to a 15% variance limit per line item and in aggregate. Absent further court approval, the Debtor's authority to use cash collateral will automatically expire on April 29. As adequate protection for any decline in collateral value, secured creditors will be granted replacement liens on all post-petition assets, maintaining the same priority and validity as their pre-petition liens. The liens are deemed automatically perfected without additional filings. The interim order is entered without prejudice, allowing parties to seek modifications, additional relief, or extensions of the cash collateral authority. The order is available at https://is.gd/B3FgpF from PacerMonitor.com. About Della Ragione Inc. Della Ragione, Inc. sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Pa. Case No. 26-00572) on March 2, 2026, listing up to $50,000 in assets and $100,001 to $500,000 in liabilities. Judge Henry W. Van Eck presides over the case. The Debtor tapped Craig A. Diehl, Esq. at Law Offices of Craig A. Diehl as counsel and James Tice, CPA, at Tice Associates, PC as accountant. DENVER SPRING: Kevin Neiman Named Subchapter V Trustee ------------------------------------------------------ The Acting U.S. Trustee for Region 19 appointed Kevin Neiman as Subchapter V trustee for Denver Spring & Suspension. Mr. Neiman 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. Neiman declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Kevin S. Neiman PO Box 100455 Denver, CO 80250 Tel: (303) 996-8637 Fax: (877) 611-6839 Email: trustee@ksnpc.com About Denver Spring & Suspension Denver Spring & Suspension sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Colo. Case No. 26-12159) on April 01, 2026, with $0 to $50,000 in assets and $500,001 to $1 million in liabilities. Judge Thomas B. Mcnamara presides over the case. Keri L. Riley, Esq. at Kutner Brinen Dickey Riley, P.C. represents the Debtor as legal counsel. DHS MANAGEMENT: Commences Chapter 11 Bankruptcy in California ------------------------------------------------------------- On April 10, 2026, DHS Management LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Central District of California. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to 1–49 creditors. A meeting of creditors under Section 341(a) to be held on May 12, 2026 at 10:00 AM at UST-SVND1, TELEPHONIC MEETING. CONFERENCE LINE:1-888-330-1716, PARTICIPANT CODE:5961145. About DHS Management LLC DHS Management LLC is a limited liability company. DHS Management LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-10750) on April 10, 2026. In its petition, the Debtor reports estimated assets and liabilities both ranging from $1 million to $10 million. Honorable Bankruptcy Judge Victoria S. Kaufman handles the case. The Debtor is represented by M. Jonathan Hayes, Esq. of Resnik Hayes Moradi LLP. DISCOVER CHIROPRACTIC: Seeks Cash Collateral Access --------------------------------------------------- Discover Chiropractic and Wellness, PLLC asks the U.S. Bankruptcy Court for the Western District of Texas, Austin Division, for authority to use cash collateral and provide adequate protection. Immediate access to cash collateral is essential to prevent disruption, preserve the going concern value, and fund ongoing post-petition obligations. The Debtor's bankruptcy was precipitated by threatened collection efforts from the U.S. Department of the Treasury, and its primary assets include cash and accounts receivable totaling approximately $23,000. Based on a UCC search, the Small Business Administration appears to hold the only lien with an interest in cash collateral, while other assets such as inventory and equipment do not constitute cash collateral. Adequate protection would include replacement liens on post-petition assets and maintenance of insurance coverage on the Debtor's assets, ensuring secured creditors’ interests are safeguarded while allowing continued operations and facilitating a successful reorganization under Chapter 11. The Debtor submitted a preliminary five-week budget beginning April 6, outlining necessary operating expenses including payroll, rent, utilities, insurance, software fees, and marketing, with the goal of maintaining liquidity and continuing business operations. A copy of the motion is available at https://urlcurt.com/u?l=xXnAFT from PacerMonitor.com. About Discover Chiropractic and Wellness, PLLC Discover Chiropractic and Wellness, PLLC operates a chiropractic clinic located in Georgetown, Texas. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 26-10618-smr) on April 7, 2026. In the petition signed by Ralph Scott Shepard, owner/manager, the Debtor disclosed up to $100,000 in assets and up to $1 million in liabilities. Judge Shad M. Robinson oversees the case. Stephen W. Sather, Esq., at Barron & Newburger, P.C., represents the Debtor as legal counsel. DTD PRECISION: Files Emergency Bid to Use Cash Collateral --------------------------------------------------------- DTD Precision Gear & Machine, LLC asks the U.S. Bankruptcy Court for the District of Arizona for emergency authorization to use cash collateral and provide adequate protection. At the time of filing, the Debtor had only about $2,900 in cash and employs four people, including its owners. The Debtor identifies several secured creditors with potential claims on its assets, including the U.S. Small Business Administration, which it believes holds a first-priority lien on all assets, as well as Commercial Funding and Manufacturers Capital. To protect these creditors while using the cash, the Debtor proposes providing adequate protection through replacement liens on post-petition assets, maintaining the business as a going concern, and making monthly payments of $1,200 to the SBA. The Debtor has already reached an agreement with the SBA for interim use of cash collateral under a proposed budget. A copy of the motion is available at https://urlcurt.com/u?l=0B0Jj7 from PacerMonitor.com. About DTD Precision Gear & Machine LLC DTD Precision Gear & Machine, LLC is an Arizona-based precision machining business serving industries such as aerospace. The Debtor filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Ariz. 26-02301) on March 12, 2026. Patrick F. Keery, Esq., at Keery McCue, PLLC is the Debtor's legal counsel. DVM PROPERTIES: Starts Chapter 11 Bankruptcy in Oklahoma -------------------------------------------------------- On April 10, 2026, DVM Properties, LLC, filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Western District of Oklahoma. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to 1–49 creditors. A meeting of creditors under Section 341(a) to be held on May 11, 2026 at 01:30 PM telephonically with the following call in number 888-330-1716 and passcode 2164492. About DVM Properties, LLC DVM Properties, LLC is a real estate company engaged in property ownership, leasing, and investment activities. DVM Properties, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-11154) on April 10, 2026. In its petition, the Debtor reports estimated assets of $1 million–$10 million and estimated liabilities of $1 million–$10 million. The Debtor is represented by Stephen J. Moriarty, Esq. of Fellers Snider. DYNACQ HEALTHCARE: Seeks to Extend Plan Exclusivity to July 6 ------------------------------------------------------------- Dynacq Healthcare, Inc. and affiliates asked the U.S. Bankruptcy Court for the Southern District of Texas to extend their exclusivity periods to file a plan of reorganization and obtain acceptance thereof to July 6 and Sept. 4, 2026, respectively. The Debtors explain that they continue to make good faith progress in their restructuring efforts, notwithstanding the instant request for an extension of the exclusivity period. As the Court is aware, the DIP Orders required the Debtors to effectuate the sale pursuant to the Sale Order and Amended APA close to three months after the Petition Date. The Debtors claim that under the circumstances, more time is necessary to ensure implementation of reasonable and effective plan terms and prepare adequate information for a disclosure statement. The terms and structure of the plan and disclosure statement depend in large part on the administrative claim pool relative to the Debtors' remaining cash, and the ongoing analysis of whether meaningful distributions can be made to creditors. With the sale process recently completed and the TSA currently in effect, the Debtors submit that they continue to make good faith progress towards reorganization and an additional extension is warranted. The Debtors cite that they are seeking an extension of the exclusive period for a proper purpose. The Debtors are obligated under the TSA to provide Transition Services until the Term expires. The Debtors are conducting an analysis of whether a feasible chapter 11 plan can be filed and confirmed to bring these Chapter 11 Cases to an efficient conclusion as soon as reasonably practicable after the expiration of the Term. Upon expiration of the Bar Date, the Debtors will require additional time to evaluate the entire claims pool and engage in meaningful conversation with creditors and parties in interest. The Debtors assert that throughout these Chapter 11 Cases, they have consistently paid their bills as they come due and, to the Debtors' knowledge, they are current on most, if not all, of their postpetition obligations. As part of their post-Closing efforts, and in consultation with the Committee, the Debtors are in the process of analyzing the scope of the potential administrative claims pool to determine the feasibility of a chapter 11 plan. The Debtors further assert that this Motion is their first request for an extension of exclusivity. This Motion is filed neither for the purpose of delay nor with the intent to extend the period indefinitely in order to gain undue advantage. This Motion is being filed only to preserve the Debtors' exclusivity rights until such time the Debtors determine whether a plan is in the best interest of the estates and all stakeholders. As a result, the Debtors believe that the requested extension is reasonable under the circumstances of these Chapter 11 Cases and should be granted by the Court. Counsel to the Debtors: William J. Hotze, Esq. Nicholas Zugaro, Esq. Dominique A. Douglas, Esq. Dykema Gossett PLLC 5 Houston Center 1401 McKinney Street, Suite 1625 Houston, TX 77010 Tel: (713) 904-6900 Email: whotze@dykema.com nzugaro@dykema.com ddouglas@dykema.com About Dynacq Healthcare Dynacq Healthcare, Inc., and its affiliates own and operate a general acute care hospital in Pasadena, Texas, that focuses on specialized surgical services and maintains eight operating rooms along with 37 hospital beds. Dynacq Healthcare, Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-90798) on Dec. 8, 2025, listing $10 million to $50 million in assets and $10 million to $50 million in liabilities. The petitions were signed by Eric Chan as authorized signatory. Dominique Ashley Douglas, at Dykema Gossett, serves as the Debtor's counsel. E&M BINDERY: Court Extends Cash Collateral Access to May 12 ----------------------------------------------------------- The U.S. Bankruptcy Court for the District of New Jersey entered a seventh amended order extending E&M Bindery, Inc.'s authority to use the cash collateral of Milberg Factors, Inc. Under the seventh amended order, the Debtor is authorized to use cash collateral through May 12 in accordance with its budget and the terms of the court's prior interim orders. The Debtor is also authorized to continue to remit to Milberg 90% of the net proceeds from court-approved private equipment sales. The order modifies payment mechanics to Milberg. The Debtor must remit 70% of funds exceeding $20,000 in its bank accounts weekly, with the remaining 30% directed to counsel's trust account for professional fees. In addition, Milberg is entitled to the same rights, liens, priorities and protections provided for under the court's previous interim orders. A final hearing is scheduled for May 12, with objections due by May 5. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/xIsiF from PacerMonitor.com. Milberg Factors, as secured creditor, is represented by: John Bougiamas, Esq. Jonathan N. Helfat, Esq. Michael Wenger, Esq. Matthew J. Stockl, Esq. 230 Park Avenue New York, NY 10169 Telephone: (212) 661-9100 jbougiamas@otterbourg.com jhelfat@otterbourg.com mwenger@otterbourg.com mstockl@otterbourg.com About E&M Bindery Inc. E&M Bindery, Inc., a company in Clifton, N.J., sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. N.J. Case No. 25-22444) on November 21, 2025, listing between $1 million and $10 million in both assets and liabilities. Gary Markovits, president of E&M Bindery, signed the petition. Judge Stacey L. Meisel oversees the case. David Edelberg, Esq., at Scarinci Hollenbeck, represents the Debtor as legal counsel. EASTERN MAINE HEALTHCARE: S&P Affirms 'BB-' ICR, Outlook Stable --------------------------------------------------------------- S&P Global Ratings revised its outlook to stable from negative and affirmed its 'BB-' long-term rating on Maine Health & Higher Educational Facilities Authority's tax-exempt bonds issued for Eastern Maine Healthcare Systems, dba Northern Light Health (NLH) as well as on NLH's outstanding taxable bonds. The outlook revision to stable reflects improved fiscal 2025 underlying performance and ahead of budget results through the first quarter of fiscal 2026, with both periods showing positive cash flow sufficient, along with a recent $59.2 million cost report settlement from the state, to retain general balance sheet stability. S&P said, "We view governance and social factors as neutral, particularly as management has delivered on its turnaround plan with a material lowering of operating losses between 2024 and 2025. In addition, the system has hired a chief operating officer (who will focus initially on EMMC improvement) and plans to hire a chief clinical officer, with both taking responsibility for further operational progress. About 13% of NLH employees are in unions. NLH recently signed a three-year contract with its largest union while avoiding a threatened strike. Other contracts are smaller and up to date. "While we view environmental risk as neutral, one of NLH's nine hospitals is in Portland, a city that carries elevated physical risk due to its coastal location along the Atlantic Ocean, we believe the diversified location of NLH's facilities helps dampen this risk as it is highly unlikely that the entire system would be affected simultaneously. "The stable outlook reflects general stability in NLH's key balance sheet metrics with opportunity for some further improvement. Although earnings continue to be negative and we view some volatility as consistent with the rating level, the outlook incorporates expected improvement in earnings over the next several years to around breakeven. Initial successes in NLH's turnaround plan and its strong enterprise profile currently support the rating and with an improved financial profile, could also support a higher rating over time." Inability to continue to rebuild its cash flow by lowering losses and incrementally growing unrestricted reserve balances and related ratios, could result in a negative outlook or lower rating. In addition, any additional debt or enterprise weakness could pressure the rating. S&P could revise the outlook to positive if management achieves its 2026 earnings expectations, has a steady trend of near breakeven operating performance through 2027, and continues to meet its debt service coverage requirements. Additionally, a positive outlook is dependent on balance sheet improvement, especially days' cash on hand and cash to debt, to around 2023 levels. EASTMAN KODAK: S&P Alters Outlook to Stable, Affirms 'CCC+' ICR --------------------------------------------------------------- S&P Global Ratings revised its outlook on Eastman Kodak Co. (Kodak) to stable from negative and affirmed the 'CCC+' issuer credit rating. The stable outlook reflects S&P's view that Kodak has adequate liquidity to weather its moderating cash burns while it continues to restructure its core business and drive growth initiatives before its next material debt maturity in 2028. Kodak reduced leverage materially, using proceeds from monetizing assets from its previously overfunded pension plan. S&P expects its S&P Global Ratings-adjusted leverage will be in the mid-5x area in 2026. In 2025, it terminated its pension plan program (KRIP), settled all the pension obligations (through lump-sum settlement payments and the purchase of a group annuity contract), funded a defined benefit retirement plan as a replacement for KRIP for new hires and current employees, and paid related excise tax. During the fourth quarter of 2025, Kodak used the remaining proceeds to pay down the term loan principal balance to $200 million and added about $153 million of cash and $152 million worth of remaining investment assets to its balance sheet as of the end of 2025. Its S&P Global Ratings-adjusted leverage was 7.8x as of Dec. 31, 2025, a significant improvement from a year ago at over 25x. Kodak intends to monetize the remaining investment assets through redemptions over 2026-2028 to further reduce debt balance, bolster liquidity, and fund growth initiatives. The company already received $44 million in additional cash proceeds from continued redemptions of assets in January, and it expects to receive $55 million more by the end of 2026. Kodak subsequently repaid $50 million principal balance on the term loan in March and will pay down another $50 million on or before June 1, 2026. It also extended the mandatory redemption date on its series B preferred stock to June 2029 (if not converted into common stock by then), but with a modestly higher cash dividend rate of 6% from 4% previously. Pro forma for all the changes Kodak will have made to its capital structure (including expected additional proceeds and required debt repayment by the end of this year), it will only have about $100 million of term loan balance that matures in 2028 and $100 million worth of series B preferred stock that now will mature beyond the term loan. Growth from AM&C segment will likely be the primary driver to support the company's profitability expansion, while the Print segment will continue to decline over the longer term. Avoiding negative profitability in the Print segment will be key, which the company has so far achieved. Kodak's overall operational EBITDA margins have improved, and we expect this to continue in 2026, driven by synergy realization from cost restructuring and continued growth from AM&C, while cash flow deficits will persist due to higher investment needs to drive growth. The AM&C segment grew about 17% during 2025 while the Print segment declined by about 3% (though less severe than prior years). Kodak will continue to invest and expand its product offerings in pharmaceuticals and advanced materials to drive long-term growth; we believe the AM&C segment still requires elevated investment before successful commercialization of its products in development and achievement of scale for a more sustainable margin profile. Therefore, before S&P sees proven consistent trends of overall revenue and margin expansion, it has limited visibility and confidence that the decline of its Print segment will be more than offset by the growth from its AM&C segment such that the company can consistently generate positive cash flow. Kodak has adequate liquidity to weather moderating cash burns, while it continues to restructure its core business and drive growth initiatives. S&P expects the company will benefit from lower cash interest expense and improving EBITDA margins, although free operating cash flow (FOCF) will still be moderately negative given the increasing level of capital expenditures for growth initiatives. Pro forma liquidity of about $330 million of unrestricted cash (taking into account additional proceeds received in January and debt repayment in March) and $55 million of expected proceeds by the end of this year will be adequate to support operational and debt service needs over the next 12-24 months. S&P said, "The stable outlook reflects our view that Kodak has adequate liquidity to weather moderating cash flow deficits while it continues to restructure its core business and drive growth initiatives in advance of its next material debt maturity in 2028. That said, we continue to question the sustainability of its capital structure over the longer term, absent consistent improvement in its operational performance given weak industry fundamentals in its Print business and our expectation for modestly negative FOCF over the next two years." S&P could lower the rating on Kodak if: -- S&P believes it will likely default in the next 12 months. This could happen if cash flow from operations turns significantly negative and it has insufficient cash balance to meet upcoming maturities and operational needs; and -- The company cannot successfully refinance its debt before it goes current. S&P could raise its rating on Kodak if: -- S&P has more confidence in its ability to drive sustainable growth and expand profits at its AM&C segment while managing its declining Print business at break-even or better margin profile; and -- It generates consistent positive FOCF at a level that could provide a sufficient cushion to weather potential earnings volatility. EDDIE BAUER: Court Confirms Amended Joint Plan of Reorganization ---------------------------------------------------------------- The Hon. Stacey L. Meisel of the U.S. Bankruptcy Court for the District of New Jersey approved the Disclosure Statement and confirmed the Third Amended Joint Plan of Reorganization of Eddie Bauer LLC 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 Disclosure Statement, the Solicitation Packages, and the Solicitation and Voting Procedures are approved on a final basis pursuant to section 1125 of the Bankruptcy Code. The Plan is approved in its entirety and confirmed pursuant to section 1129 of the Bankruptcy Code. As shared by the Troubled Company Reporter, Eddie Bauer LLC and its Debtor Affiliates filed with the U.S. Bankruptcy Court for the District of New Jersey a Disclosure Statement relating to Joint Plan of Reorganization dated February 23, 2026. The Company is the exclusive licensee of the Eddie Bauer brand with respect to brick-and-mortar retail sales of Eddie Bauer casual garments and home goods, including men's and women's shirts, pants, footwear, accessories, bags, and camping gear, in addition to its famous outerwear. As of the Petition Date, the Company has 175 retail locations across forty states and the United States and six provinces in Canada, employing approximately 2,200 people. The Debtors do not own the Eddie Bauer brand, and the brand, along with wholesale and e-commerce sales thereunder, is not part of these Chapter 11 Cases. In response to macroeconomic headwinds, the Company began exploring and evaluating potential transactions and other measures to meet the Company's goal of maximizing value for all stakeholders. The Debtors' financial challenges continued to mount in the fourth quarter of 2025. At the time, the Debtors faced approximately $220 million in future fees due over the remaining six years of the License Agreement. With declining sales and break-even or negative margins in the e-commerce and wholesale businesses, the Debtors could no longer support payment of fixed licensing fees. Notwithstanding the Company's efforts to pursue all available alternatives, in January 2026 it became clear to the Company, its management, and the Debtors' boards of directors that a comprehensive restructuring would be necessary to address the Debtors' balance sheet and operational challenges. Accordingly, the Company, with the assistance of Kirkland and BRG, commenced negotiations with their Prepetition Lenders regarding a consensual and value-maximizing wind-down of any assets not sold in the Sale Process (the "Wind-Down"). The Company also retained Hilco Merchant Resources, LLC and SB360 Capital Partners, LLC (collectively, the "Liquidator") to assist with the winddown and RCS Real Estate Advisors to analyze the Company's lease portfolio. The Company's good-faith, arms' length negotiations with the Prepetition Lenders culminated in the execution of the restructuring support agreement attached to the First Day Declaration. The Restructuring Support Agreement contemplates, among other things: * Transactions and Implementation. The Debtors may pursue (a) a Sale Transaction for the Debtors' assets and/or equity to the highest or otherwise best bidder(s) following a sale and marketing process to be conducted pursuant to Bankruptcy Court-approved bidding procedures (the "Bidding Procedures"); and (b) notwithstanding the Sale Process, the Debtors will continue the Store Closing Sales with respect to any portion of the Debtors' business and store locations that are not otherwise sold. * Distributions to Creditors Pursuant to Chapter 11 Plan. The Plan will (a) pay all allowed administrative and priority claims in full; (b) provide that, subject to the class of general unsecured creditors voting to accept the Plan, 100% of Net Proceeds, whether from a going concern sale or Store Closing Sales, less the GUC Contingent Recovery Pool, will be distributed to the ABL Lenders, with general unsecured creditors receiving their pro rata share of the greater of (i) $250,000 or (ii) 10% of Net Proceeds in excess of the ABL Threshold Recovery Amount (such recovery, the "GUC Contingent Recovery Pool"); and (c) provide that Term Loan Claims, Subordinated Loan Claims, and existing equity interests will be extinguished with no recovery from the Debtors' estates, and holders of such claims will forego a distribution from the Debtors that they would have otherwise had a right to in the event the class of general unsecured claims votes to accept the Plan. Notwithstanding the foregoing, all ABL Claims, Term Loan Claims, and Subordinated Loan Claims shall be reserved and preserved as against all Persons or Entities other than the Debtors. * Wind Down. Following the conclusion of all Store Closing Sales and, if applicable, a Sale Transaction, the Debtors will be wound down in an orderly and court-approved process. The Debtors entered the Chapter 11 Cases with the intent to continue the Sale Process while monetizing existing inventory through the Store Closing Sales. Prior to the Petition Date, SOLIC contacted 126 potential acquirers, including sixty-eight financial and fifty-eight strategic counterparties with investments and/or operational experience in the consumer retail space, and executed nondisclosure agreements with thirty-four parties who were provided access to the Data Room. The two IOI Parties submitted IOIs prior to the Petition Date. SOLIC continued the Sale Process postpetition and continued to engage with the IOI Parties to pursue the bids contemplated in the IOIs. SOLIC conducted outreach to additional potentially interested parties as part of the postpetition marketing process, resulting in execution of one additional nondisclosure agreement as of the filing of this Disclosure Statement. Class 6 consists of General Unsecured Claims. The allowed unsecured claims total $105 million. On the Effective Date, except to the extent that a Holder of an Allowed General Unsecured Claim agrees to less favorable treatment, each Holder of an Allowed General Unsecured Claim shall receive: * if Class 6 (General Unsecured Claims) votes to accept the Plan, its pro rata share of the GUC Contingent Recovery Pool; or * if Class 6 (General Unsecured Claims) votes to reject the Plan, all Allowed General Unsecured Claims shall be canceled, released, and extinguished and will be of no further force or effect, and Holders of Allowed General Unsecured Claims shall not receive any distribution, property, or other value under the Plan on account of such Allowed General Unsecured Claims. On the Effective Date, all Existing Equity Interests will be canceled, released, and extinguished and will be of no further force and effect. No Holders of Existing Equity Interests will receive a distribution under the Plan on account of such Existing Equity Interests. On or after the Effective Date, the Debtors, the Wind-Down Debtors, or the Plan Administrator, as applicable, shall fund or make distributions under the Plan, as applicable, with: (i) the Debtors' Cash on hand; (ii) the proceeds from the Debtors' ordinary course operations and Store Closing Sales; and (iii) the Sale Proceeds, if applicable. Each distribution and issuance referred to in Article VI of the Plan shall be governed by the terms and conditions set forth in the Plan applicable to such distribution or issuance and by the terms and conditions of the instruments or other documents evidencing or relating to such distribution or issuance, which terms and conditions shall bind each Entity receiving such distribution or issuance. A full-text copy of the Disclosure Statement dated February 23, 2026 is available at https://urlcurt.com/u?l=tqpNuX from Stretto, claims agent. A copy of the Court's Findings of Fact, Conclusions of Law, and Order dated April 16, 2026, is available at http://urlcurt.com/u?l=AiTg62from PacerMonitor.com. About Eddie Bauer LLC Eddie Bauer is an outdoor apparel brand was founded in Seattle in 1920 and has built a reputation around clothing and gear for hiking, travel, and outdoor recreation. It sells outdoor apparel, footwear, and equipment designed for travel and adventure. The company currently reports operating over 250 locations throughout North America. Eddie Bauer LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 26-11422) on February 9, 2026. In its petition, the Debtor reports $100,000,001 to $500 million in assets and $1,000,000,001 to $10 billion in liabilities. Honorable Bankruptcy Judge Stacey L. Meisel handles the case. The Debtor is represented by Michael D. Sirota, Esq. of Cole Schotz P.C. Kirkland & Ellis LLP and Kirkland & Ellis International LLP as counsel. GBH SOLIC Holdco, LLC d/b/a SOLIC Capital Advisors as investment banker. Stretto, Inc. as administrative advisor. EGGSTRODINARY RESTAURANTS: Case Summary & 20 Unsecured Creditors ---------------------------------------------------------------- Five affiliates that concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code: Debtor Case No. ------ -------- Eggstrodinary Restaurants Leetsdale LLC 26-12490 d/b/a Morning Story 3773 E Cherry Creek North Dr., Ste 965 Denver, CO 80209 Eggstrodinary Restaurants Sheridan LLC 26-12494 d/b/a Morning Story 3773 E Cherry Creek North Dr., Ste 965 Denver, CO 80209 Eggstrodinary Restaurants TC LLC 26-12496 d/b/a Morning Story 3773 E Cherry Creek North Dr., Ste 965 Denver, CO 80209 Eggstrodinary Restaurants - CR7th, LLC 26-12499 d/b/a Morning Story 3773 E Cherry Creek North Dr., Ste 965 Denver, CO 80209 Up Early PBM, LLC 26-12501 d/b/a Bluebird Cafe 3773 E Cherry Creek North Dr., Ste 965 Denver, CO 80209 Business Description: Eggstrodinary Restaurants Sheridan LLC, Eggstrodinary Restaurants Leetsdale LLC, Eggstrodinary Restaurants TC LLC, and Eggstrodinary Restaurants - CR7th LLC operate casual dining restaurants using the Morning Story brand, specializing in breakfast and brunch offerings across Colorado and Iowa. The restaurants provide American-style breakfast dishes and cafe-style lunch menus across locations in Denver, Arvada, Englewood, and Marion. Up Early PBM, LLC operates Bluebird Cafe in Thornton, Colorado, as a full-service casual dining restaurant offering breakfast and brunch items including benedicts, hashes, waffles, and other daytime menu selections for local customers. Chapter 11 Petition Date: April 14, 2026 Court: United States Bankruptcy Court District of Colorado Judge: Hon. Joseph G Rosania Jr Debtors' Bankruptcy Counsel: Aaron J. Conrardy, Esq. WADSWORTH GARBER WARNER CONRARDY, P.C. 2580 West Main Street Suite 200 Littleton, CO 80120 Tel: 303-296-1999 Email: aconrardy@wgwc-law.com Each Debtor's Estimated Assets: $0 to $50,000 Each Debtor's Estimated Liabilities: $1 million to $10 million The petitions were signed by James Gregory as manager. Copies of the Debtors' lists of their 20 largest unsecured creditors are available for free on PacerMonitor at: https://www.pacermonitor.com/view/3EGW7AA/Eggstrodinary_Restaurants_Leetsdale__cobke-26-12490__0003.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/7DEFY4I/Eggstrodinary_Restaurants_Sheridan__cobke-26-12494__0003.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/63GZ2YA/Eggstrodinary_Restaurants_TC_LLC__cobke-26-12496__0002.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/76OUOSI/Eggstrodinary_Restaurants_-_CR7th__cobke-26-12499__0002.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/B2SM7DY/Up_Early_PBM_LLC__cobke-26-12501__0002.0.pdf?mcid=tGE4TAMA Full-text copies of the petitions are available for free on PacerMonitor at: https://www.pacermonitor.com/view/ZPS7ZFY/Eggstrodinary_Restaurants_Leetsdale__cobke-26-12490__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/3TNYDPQ/Eggstrodinary_Restaurants_Sheridan__cobke-26-12494__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/667YSZI/Eggstrodinary_Restaurants_TC_LLC__cobke-26-12496__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/7Q77BRY/Eggstrodinary_Restaurants_-_CR7th__cobke-26-12499__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/B77OTOA/Up_Early_PBM_LLC__cobke-26-12501__0001.0.pdf?mcid=tGE4TAMA EMERGENCY HOSPITAL: Court Extends Cash Collateral Access to June 30 ------------------------------------------------------------------- Allison Byman, the Chapter 11 trustee for Emergency Hospital Systems, LLC, received another extension from the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, to use cash collateral. The 14th interim order approved a stipulation between the trustee and RDFCB Acquisition, LLC, authorizing the trustee to use the lender's cash collateral through June 30. Spending must follow rolling 30-day budgets agreed between the Trustee and RDFCB, with flexibility to pay approved expenses when they come due and authority to spend within a 10% variance. RDFCB will be granted replacement liens on its collateral to the extent of any cash collateral used without the need to file any UCC or other perfection instrument. In the event of any diminution in the value of its collateral, RDFCB will have an administrative expense pursuant to Section 507(b) of the Bankruptcy Code, subordinate only to the administrative claims of the trustee and her estate professionals. The 14th interim order approved the carveout for trustee compensation, estate-professional fees, and U.S. Trustee fees, as well as employee wage payments. The order is available at https://is.gd/UO3GzT from PacerMonitor.com. About Emergency Hospital Systems Emergency Hospital Systems LLC, doing business as Cleveland Emergency Hospital, is a system of regional hospitals serving the communities of The Woodlands, Porter, and Deerbrook, Cleveland. These facilities support each other with respect to the services they provide and are united under a common objective to provide quality healthcare professionally and compassionately. Emergency Hospital Systems sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 24-34683) on October 3, 2024, with $10 million to $50 million in both assets and liabilities. Rafael Delaflor, operating officer, signed the petition. Judge Eduardo V. Rodriguez oversees the case. Megan Rapp, Esq., at Kean Miller, LLP is the Debtor's legal counsel. RDFCB Acquisition, LLC, as lender, is represented by: Kell Mercer, Esq. Kell C. Mercer, P.C. 901 S. Mopac Expy, Suite 300, Bldg. 1 Austin, Texas 78746 Telephone: 512-767-3214 ENGINEERED MACHINERY: Moody's Alters Outlook on 'B2' CFR to Stable ------------------------------------------------------------------ Moody's Ratings affirmed its ratings of Engineered Machinery Holdings, Inc. ("Duravant"), including the B2 corporate family rating, B2-PD probability of default rating, B1 senior secured first lien bank credit facilities rating and Caa1 senior secured second lien bank credit facility rating. Moody's also changed the outlook to stable from negative. The change in the outlook reflects Moody's belief that the company will continue to generate strong positive free cash flow and maintain its also strong EBITDA margin. The company's top-line has been padded by a series of acquisitions and organic growth. Notably, Duravant's protein processing segment should continue its solid performance supported by strength in poultry demand. In the absence of future debt-funded acquisitions, Moody's believes Duravant is well positioned to reduce leverage through earnings expansion. RATINGS RATIONALE The B2 CFR reflects Duravant's high leverage and its history of debt-funded acquisitions. Adjusted debt/EBITDA reached 7.2x at the end of fiscal 2025 because of the debt the company issued to fund its acquisitions of Pattyn and Matthews Warehouse Automation during 2025. Duravant has a history of acquiring and successfully integrating companies, sustaining profit margins and growing free cash flow. Nonetheless, it will continue to face execution and integration risk as Moody's believes it will continue to inorganically grow. The rating also reflects the cyclicality of Duravant's business. The company's industrial automation business services significant projects which might not always recur. Meanwhile, Duravant's food automation business is benefiting from a robust poultry market. However, the company has limited exposure to a struggling beef market. The company holds a defensible niche position in the specialized machinery sector with long-established customer relationships, which promotes steady demand and free cash flow generation, helping to mitigate its high financial leverage. In addition, the company benefits from favorable exposure to the food and beverage and e-commerce sectors, as well as its meaningful aftermarket business. Moody's expects Duravant to maintain good liquidity over the next 12 months. The cash balance is in excess of $100 million and Moody's believes it will be supplemented by solid free cash flow generation. Moody's expects the $381.6 million senior secured first lien revolver, which expires in December 2029, to remain undrawn. The next material debt maturity is for the $375 million senior secured second lien term loan, which matures in May 2029. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be downgraded if liquidity weakens or the company faces increased competition that pressures earnings and free cash flow. Integration challenges or a weak operating environment could also pressure ratings as could debt/EBITDA being sustained above 7.0x or EBITA/Interest sustained below 1.5x. The ratings could be upgraded with strong operating performance supported by debt/EBITDA sustained below 5.0x or EBITA/Interest sustained above 2.0x. The principal methodology used in these ratings was Manufacturing published in September 2025. The net effect of any adjustments applied to rating factor scores or scorecard outputs under the primary methodology(ies), if any, was not material to the ratings addressed in this announcement. Engineered Machinery Holdings, Inc. is the indirect parent of Duravant LLC. Headquartered in Downers Grove, Illinois, Duravant designs and assembles packaging, material handling and food processing equipment for a number of industries, including food and beverage, consumer products, e-commerce and distribution, retail, and agriculture and produce. Duravant is owned by affiliates of Warburg Pincus, LLC and Carlyle Investment Management LLC. Duravant generated more than $1.6 billion of revenue in 2025. ENVELOPE 1 INC: Gets Extension to Access Cash Collateral -------------------------------------------------------- Envelope 1, Inc. received fifth interim approval from the U.S. Bankruptcy Court for the Southern District of Florida to continue using cash collateral to fund operations during its Chapter 11 case. The order recognizes Spectrum Commercial Finance, LLC as the Debtor's primary secured lender, holding valid, perfected, and non-avoidable liens on substantially all assets, including accounts receivable, inventory, equipment, and real property in Ohio. As of the petition date, the Debtor owed Spectrum approximately $927,263.50, plus interest and fees, and acknowledged Spectrum's lien rights in exchange for the continued use of cash collateral including cash and revenue. Under the court order, the use of cash collateral is strictly limited to amounts and purposes set forth in the budget, subject to a 10% variance per line item and a 5% cumulative variance overall. The budget shows total operational expenses of $193,322 for March; $243,983 for April; $278,421 for May; $325,811 for June; $365,426 for July; and $402,791 for August. As adequate protection, Spectrum will be granted post-petition replacement liens on all assets acquired by the Debtor before or after the petition date excluding avoidance actions, maintaining the same priority as its pre-bankruptcy liens. In addition, Spectrum will continue to receive monthly payments of $11,025. The Debtor is required to maintain insurance, permit inspections, and provide financial information upon request as additional protection. The authorization terminates upon specified events, including default or conversion of the Debtor's Chapter 11 case. A further hearing is set for May 19. The order is available at https://is.gd/kb768O from PacerMonitor.com. About Envelope 1 Inc. Envelope 1, Inc manufactures and mails commercial envelopes and their contents. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-23400) on November 12, 2025. In the petition signed by Tarry Pidgeon, president, the Debtor disclosed up to $50 million in assets and up to $100 million in liabilities. Judge Mindy A. Mora oversees the case. Susan D. Lasky, Esq., at Susan D. Lasky, PA, represents the Debtor as legal counsel. ESJ TOWERS: Court Upholds Judgment in DAC Adversary Case -------------------------------------------------------- Judge Enrique S. Lamoutte of the U.S. Bankruptcy Court for the District of Puerto Rico denied the Motion for Relief from Judgment as Void and for Stay of Discovery filed by De Angel & Compania CPA, LLC ("DAC") in the adversary proceeding captioned as COMMITTEE OF UNSECURED CREDITORS FOR ESJ TOWERS, INC., Plaintiffs vs. AIG INSURANCE COMPANY - PUERTO RICO; ARCO PUBLICIDAD, LLC; BALLHER, CORP.; DE ANGEL & COMPANIA CPA, LLC; ECOLAB MANUFACTURING, INC.; LIBERTY MOBILE PUERTO RICO, INC.; MCCLOSKEY & BONNIN VALUATION GROUP, PSC; RCI, LLC; AND WHITE RHINO, INC., Defendants, ADVERSARY NO. 24-00041 (Bankr. D.P.R.). On June 10, 2022, the Debtor filed a voluntary petition for relief under Chapter 11 and began managing its affairs and operating its business as a debtor-in-possession. DAC was listed as a non-priority unsecured creditor in Schedule E/F. Thereafter, on August 3, 2022, the Debtor filed an Application for appointment of DAC as auditor for debtor, which was granted. On June 3, 2024, the Official Committee of Unsecured Creditors filed an adversary complaint against DAC and other defendants seeking to avoid and recover post-petition transfers received by DAC under Sections 549(a) and 550(a)(1) of the Bankruptcy Code, inter alia. On September 3, 2024, default was entered against DAC. On October 10, 2024, the court entered a Partial Judgment by Default against DAC in the amount of $1,377.75, plus costs. On January 9, 2026, DAC filed the Motion for Relief from Judgement alleging that service of the summons and complaint failed to comply with Fed. R. Bankr. P. 7004(b)(3) and 14 L.P.R.A. Sec. 3781 by failing to identify any qualifying officer or agent, warranting relief under Fed. R. Civ. P. 60(b)(4). DAC also requests a protective order under Fed. R. Civ. P. 26, that post-judgment discovery be quashed, the Committee's motion to compel be denied, and that discovery be stayed. The Committee served summons and a copy of the complaint on DAC's resident agent, to an address that corresponds to such resident agent, as available in the Registry of Corporations and Entities of the Department of State for the Commonwealth of Puerto Rico. The court finds that service was proper under Fed. R. Civ. P. 4(e)(1) (service on an individual) and (h)(1)(A) (service on a corporate entity) by virtue of Rule 4.4(e). On the same vein, the court finds that service was proper under Fed. R. Bankr. P. 7004(b)(3), which authorizes service on a corporation through an agent authorized by appointment or designated by law. The court further finds that the Committee has met its burden of establishing personal jurisdiction over DAC. The default judgment against DAC is thus not void under Fed. R. Civ. P. 60(b)(4) for lack of personal jurisdiction due to improper service. A copy of the Court's Opinion and Order dated April 9, 2026, is available at http://urlcurt.com/u?l=aqHYYG About ESJ Towers ESJ Towers, Inc. owns the ESJ Towers in Carolina, Puerto Rico. The luxury apartments and condo units at ESJ Towers have direct access to Isla Verde Beach, widely considered one of the best in Puerto Rico. ESJ sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.P.R. Case No. 22-01676) on June 10, 2022, with as much as 50 million in both assets and liabilities. ESJ President Keith St. Clair signed the petition. Judge Enrique S. Lamoutte Inclan oversees the case. The Debtor tapped Charles A. Cuprill, Esq., at Charles A. Cuprill, PSC Law Offices as bankruptcy counsel; Ramon Luis Nieves, Esq., at RL Legal Consulting Services, LLC and Luis Daniel Muniz, Esq., as special counsel; Dage Consulting CPAS, PSC as financial advisor; CPA Luis R. Carrasquillo & Co., P.S.C. as financial consultant; and De Angel & Compania, PA, LLC as auditor. The U.S. Trustee for Region 21 appointed an official committee of unsecured creditors on Sept. 12, 2022. The committee tapped the Law Office of Jonathan A. Backman as lead bankruptcy counsel; Julio Cesar Alejandro Serrano, Esq., at JCAS Law as local counsel; and Dage Consulting CPAS, PSC as financial advisor. The court confirmed the Debtor's Chapter 11 plan of reorganization on May 21, 2024. ETEGRA INC: Gets Interim OK to Use Cash Collateral -------------------------------------------------- The United States Bankruptcy Court for the Southern District of Florida entered an interim order authorizing Etegra, Inc. to use cash collateral during its Chapter 11 proceedings. Under the order, the Debtor is authorized to use cash collateral to pay necessary operating expenses outlined in an approved budget, with a permitted variance of up to 10% per line item, as well as authorized payments such as U.S. Trustee fees. Any use outside the budget may still be allowed if it qualifies as an administrative expense, though it could trigger lender remedies. As adequate protection, secured creditors are granted replacement liens on post-petition cash collateral with the same validity and priority as their prepetition liens. The dDbtor is also required to maintain insurance on collateral. The order is without prejudice to creditors' rights and does not determine the validity or extent of any liens or claims. A final hearing is scheduled for June 10. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/BCvwN from PacerMonitor.com. Etegra Inc. is represented by: Dana Kaplan, Esq. KELLEY KAPLAN DELANEY & ELLER, PLLC 1665 Palm Beach Lakes Blvd., Suite 1000 West Palm Beach, FL 33401 Telephone: (561) 491-1200 Facsimile: (561) 684-3773 About Etegra Inc. Etegra is an architect-engineer firm that provides architecture, engineering, and construction management services primarily for the U.S. Department of Defense and other federal agencies, with additional civil, mechanical, electrical, plumbing, and fire protection engineering work for local public and private clients. Etegra, Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-24345) on Dec. 4, 2025, listing $436,230 in assets and $6,765,257 in liabilities. The petition was signed by Achyut Kumar Allady as authorized representative of the Debtor. Judge Erik P Kimball presides over the case. Craig I. Kelley, Esq. at KELLY KAPLAN & ELLER, PLLC represents the Debtor as counsel. ETEGRA INC: Plan Exclusivity Period Extended to June 2 ------------------------------------------------------ Judge Erik P. Kimball of the U.S. Bankruptcy Court for the Southern District of Florida extended Etegra, Inc.'s exclusive periods to file a plan of reorganization and obtain acceptance thereof to June 2 and August 3, 2026, respectively. As shared by Troubled Company Reporter, the Debtor explains that it requests the additional time in this case as it is reviewing and analyzing its options and ability to reorganize. Specifically, immediately prior to the filing of this case, the Debtor made many significant changes to bring the company to a profitable posture, such as reducing office space and laying off employees. The Debtor asserts that it is not seeking this extension to delay the administration of the case, and pursuant to Section 1121(c)(3) of the Bankruptcy Code, is normally allowed 120 days to file its plan. The Debtor further asserts that its request for extension of the Exclusive Periods is reasonable given the Debtor's progress to date and the current status of all post-petition payables. As such, good cause exists to grant the relief requested herein and extend the Exclusive Periods. Etegra Inc. is represented by: Dana Kaplan, Esq. KELLEY KAPLAN DELANEY & ELLER, PLLC 1665 Palm Beach Lakes Blvd., Suite 1000 West Palm Beach, FL 33401 Telephone: (561) 491-1200 Facsimile: (561) 684-3773 About Etegra Inc. Etegra is an architect-engineer firm that provides architecture, engineering, and construction management services primarily for the U.S. Department of Defense and other federal agencies, with additional civil, mechanical, electrical, plumbing, and fire protection engineering work for local public and private clients. Etegra, Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-24345) on Dec. 4, 2025, listing $436,230 in assets and $6,765,257 in liabilities. The petition was signed by Achyut Kumar Allady as authorized representative of the Debtor. Judge Erik P Kimball presides over the case. Craig I. Kelley, at KELLY KAPLAN & ELLER, PLLC, is the Debtor's counsel. ETROG PROPERTIES: Gets Extension to Access Cash Collateral ---------------------------------------------------------- Etrog Properties LLC and affiliates received another extension from the U.S. Bankruptcy Court for the Eastern District of New York to use the cash collateral of Valley National Bank. The court extended its interim cash collateral order dated Oct. 28, 2025, without any changes, retroactive from Jan. 1 through April 30. The Debtors require the use of cash collateral to operate and maintain their properties -- three mixed-use apartment buildings located in The Bronx, New York. A copy of the latest order is available at https://is.gd/KO2Yb3 from PacerMonitor.com. Valley National Bank, as lender, is represented by: Nathan Schwed, Esq. Zeichner Ellman & Krause, LLP 730 Third Avenue New York, New York 10017 Telephone: (212) 223-0400 Fax: (212) 753-0396 nschwed@zeklaw.com About Etrog Properties LLC Etrog Properties LLC is a single asset real estate company that owns property located at 938 Intervale Avenue in the Bronx, New York. Etrog Properties LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-43396) on July 17, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Louis A. Scarcella handles the case. The Debtor tapped Kevin J. Nash, Esq., at Goldberg Weprin Finkel Goldstein LLP as counsel and FIA Capital Partners LLC as restructuring advisor. EVONA LLC: Stephen Gray Named Subchapter V Trustee -------------------------------------------------- The U.S. Trustee for Region 1 appointed Stephen Gray of Gray & Company, LLC as Subchapter V trustee for Evona, LLC. Mr. Gray will be paid an hourly fee of $950 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Gray declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Stephen S. Gray Gray & Company, LLC 207 Union Wharf Boston, MA 02109 (617) 875-6404 Email: ssg@grayandcompanyllc.com About Evona LLC Evona LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Mass. Case No. 26-10699) on March 30, 2026, with $0 to $50,000 in assets and liabilities. George J. Nader, Esq. at Riley & Dever, P.C. represents the Debtor as legal counsel. FABRICATION DESIGNS: Court OKs DIP Loan, Cash Collateral Access --------------------------------------------------------------- The U.S. Bankruptcy Court for the District of Maryland granted Fabrication Designs, Inc. interim authority to use cash collateral and obtain post-petition financing to support operations in its Subchapter V Chapter 11 case. The Debtor is authorized to use fund for ordinary and necessary expenses strictly in line with an approved budget through April 24 or until a final hearing. As adequate protection, Coeur Capital, Inc. was granted replacement liens on collateral and proceeds, matching the priority of its pre-petition interests, though the court expressly reserved ruling on the validity or extent of those liens. The Debtor must comply with the budget and any unauthorized use of funds may trigger further relief for Coeur. The court also approved interim post-petition financing from Coeur, granting it a superpriority administrative claim and first-priority liens on accounts receivable, without requiring additional filings for perfection. These rights are subject to a $75,000 carveout for professional fees and statutory costs. Coeur committed to provide up to $1.5 million in DIP financing to maintain operations, pay payroll, cover administrative expenses, and preserve the value of the estate. As of the petition date, the Debtor owed Coeur approximately $982,312, with total assigned invoice obligations of roughly $1.16 million. Events of default under the order include non-compliance, case conversion, or trustee appointment, allowing Coeur to act after three business days' notice. The Debtor must also pay $26,493.29 in prorated rent for pre-petition occupancy. A final hearing is set for April 29, with objections due by April 22. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/x7PIJ from PacerMonitor.com. About Fabrication Designs Inc. Fabrication Designs, Inc. is a Hanover, Maryland-based manufacturer specializing in forced-entry and bullet-resistant (FEBR) security systems. Founded in 1988, the company produces made-to-order products including doors, windows, louvers, and guard booths. It provides integrated services spanning in-house manufacturing, engineering, and installation, serving customers in the security and defense sectors. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Md. Case No. 26-13061) on March 23, 2026, with $500,000 to $1 million in assets and $1 million to $10 million in liabilities. Kenneth Best, president, signed the petition. Joseph Selba, Esq., at Tydings Rosenberg, LLP represents the Debtor as legal counsel. FAT BRANDS DEVELOPMENT: Case Summary & 30 Unsecured Creditors ------------------------------------------------------------- Debtor: FAT Brands Development 1 LLC 9720 Wilshire Blvd., Suite 500 Beverly Hills, California 90212 Business Description: FAT Brands Development 1 LLC, an indirect subsidiary of FAT Brands Inc., owns a Hot Dog on a Stick restaurant that is pledged as collateral in connection with group financing arrangements. FAT Brands Development 1 LLC's Chapter 11 case is jointly administered under the lead case of FAT Brands Inc. (Bankr. S.D. Tex. Case No. 26-90126). Chapter 11 Petition Date: April 7, 2026 Court: United States Bankruptcy Court Southern District of Texas Case No.: 26-90436 Judge: Hon. Alfredo R Perez Debtor's Bankruptcy Co-Counsel: Timothy A. ("Tad") Davidson II, Esq. HUNTON ANDREWS KURTH LLP 600 Travis Street, Suite 4200 Houston TX 77002 Tel: 713-220-4200 Email: taddavidson@Hunton.com Debtor's Bankruptcy Counsel: LATHAM & WATKINS LLP Debtor's Investment Banker: GLC ADVISORS & CO., LLC Debtor's Financial Advisor: HURON CONSULTING GROUP INC. Debtor's Noticing, Solicigation & Subscription Agent: OMNI AGENT SOLUTIONS, INC. Estimated Assets (on a consolidated basis): $1 billion to $10 billion Estimated Liabilities (on a consolidated basis): $1 billion to $10 billion The petition was signed by John C. DiDonato as chief restructuring officer. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/7IAS43Q/FAT_Brands_Development_1_LLC_Jointly__txsbke-26-90436__0001.0.pdf?mcid=tGE4TAMA Consolidated List of Debtors' 30 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount 1. Sysco Trade Trade Payables $4,968,934 1290 Enclave Parkway Houston, TX 77077 Email: nancy.pickett@sysco.com gregg.dadowski@sysco.com 2. Enliven, LLC Trade Payables $4,613,117 231 Public Sq Ste 300 Pmb 49 Franklin, TN 37064 3. Stratford Holding LLC Unliquidated $3,980,000 119 West 57th St #906 Litigation New York, NY 10120 4. Gibson, Dunn & Crutcher LLP Trade Payables $2,566,869 333 S. Grand Ave Los Angeles, CA 99071 Tel: 213-229-7333 5. Mintz, Levin, Cohn, Trade Payables $2,483,709 Ferris, Glovsky, And Popeo, P.C One Financial Center Boston, MA 02111 Tel: 617-542-6000 6. Greenberg Traurig, LLP Trade Payables $2,344,298 1840 Century Park East, Ste. 1900 Los Angeles, CA 90067 Tel: 310-586-7700 7. Hueston Hennigan LLP Trade Payables $2,290,817 523 West 6th St Unit 400 Los Angeles, CA 90014 8. Robert G. Rosen Consulting $2,016,666 14 Todd Road Services Katonah, NY 10536 9. Cardlytics, Inc Trade Payables $1,750,846 75 Remittance Dr, Dept 3247 Chicago, IL 60675-3247 10. Dentons US LLP Trade Payables $1,363,746 601 S. Figueroa St., Ste. 2500 Los Angeles, CA 90017-5704 Tel: 213-243-6120 11. Doordash Inc Trade Payables $1,355,890 Po Box 735240 Dallas, TX 75373 12. Iversen Proctor LLP Trade Payables $1,147,660 1325 Palmetto St Los Angeles, CA 90013 Tel: 213-787-7699 13. Bryan Cave Leighton Trade Payables $1,080,179 Paisner LLP Po Box 503089 St. Louis, MO 63150-3089 Tel: 310-576-2100 14. Indiana Capital Consulting LLC Consulting $833,332 1121 Laurelwood Services Carmel, IN 46032 15. Katten Muchin Rosenman LLP Trade Payables $584,644 2900 K St, NW North Tower - Ste 200 Washington, DC 20007-5118 16. Performance Food Group, Inc. Trade Payables $492,759 12500 West Creek Parkway Richmond, VA 23238 17. BDO Trade Payables $459,022 PO Box 642743 Pittsburgh, PA 15264-2743 Tel: 305-381-8000 18. United Service Network LLC Trade Payables $408,378 16414 San Pedro Ave Suite 455 San Antonio, TX 78232 19. Klever Programatic US Inc Trade Payables $405,659 2212 S. Chicksaw Trail Orlando, FL 32825 20. SF Partners LLC Trade Payables $385,759 488 Madison Ave Suite 2103 New York, NY 10022 21. Re Moore Construction Inc Trade Payables $350,852 1817 Blue Granite Ct Marietta, GA 30066 Tel: 770-592-0179 22. Simplifi Holdings, LLC Trade Payables $333,047 128 East Exchange Ave Suite 700 Ft. Worth, TX 76164 23. Iheartmedia Trade Payables $303,534 File #56107 Los Angeles, CA 90074-6107 24. Plusnxt Trade Payables $302,356 800 S Figueroa St Suite 1205 Los Angeles, CA 90017 25. Google Inc. Trade Payables $300,707 PO Box 883654 Los Angeles, CA 9008-3654 26. Punchh Inc Trade Payables $282,726 P.O. Box 536257 Pittsburgh, PA 15253 27. Right Place Media LLC Trade Payables $280,519 437 Lewis Hargett Cir Ste 130 Lexington, KY 40503 28. Loeb And Loeb LLP Trade Payables $278,464 General Account 0100 Santa Monica Blvd Suite 2200 Los Angeles, CA 90067 29. Wynn Las Vegas, LLC Trade Payables $270,824 File 740910 Los Angeles, CA 90074-0910 30. NCR Corporation Trade Payables $254,531 Po Box 198755 Atlanta, GA 30384-8755 FCI SAND: Seeks to Sell Sand & Mining Biz at Auction ---------------------------------------------------- FCI Sand Operations, LLC and its affiliates, FCI South, LLC, seeks permission from the U.S. Bankruptcy Court for the Northern District of Texas, Dallas Division, to sell substantially all Assets at auction, free and clear of liens, claims, interests, and encumbrances. Together, the Debtors own and operate two frac-sand mines and plants in the Eagle Ford Shale region of Texas. They hold rights to mine thousands of acres for sand, as well as owning a significant acreage of land themselves. Among their strategic advantages are the quality of their processed sand and their proximity to fracking sites, especially as the cost of diesel fuel has grown and continues to grow. Their north plant is substantially new, with a daily capacity of finished frac sand of upwards of 5,000 tons, and potentially more. The Debtors ran out of capital to complete their north plant improvements prepetition. Post-petition, the Debtors obtained financing on a priming basis from the DIP Lender largely to complete the improvements. However, the Debtors experienced unexpected delays. Parts broke and new parts (both expected and not expected) had to be ordered and delivered and installed, made more complicated and expensive due to tariffs and the need to order key parts from Ireland (which itself was delayed by weeks). As parts broke or the plant went down to make repairs and improvements, the Debtors’ sales dropped, sometimes dramatically. The Debtors and the Estates own various assets and categories of assets, including real property, improvements, mineral leases, equipment, machinery, contracts, and accounts receivable, a general and non-exclusive listing of which is attached as Exhibit A. https://urlcurt.com/u?l=Ej2iWd FCI South's rights with respect to the south plant are disputed between the Debtors and Three Rivers Sand, LLC, related to that certain Lease Agreement between FCI South and Three Rivers. The Debtors maintain that the Agreement transferred title to the south plant (including real property and all machinery and equipment) subject to a lien in favor of Three Rivers, while Three Rivers maintains that the Agreement represents a true lease and that Three Rivers owns the real and other properties. The Debtors retained Mark Shapiro, of GlassRatner Advisory & Capital Group, LLC, as their Chief Restructuring Officer. The lienholders of the Property are FCI-SLG, LLC and GrayStreet Credit, LLC. In addition to the assumption of the Executory Contracts, the Debtors seek to assign any such assumed Executory Contracts to the buyer(s) at the Sale. The Debtors have requested procedures and deadlines to identify such buyers and the Executory Contracts to be assigned as part of the Bid Procedures Motion. The Debtors request that the Court enter an order specifying the procedures applicable to making bids in the Sale, identifying Assets for the Sale, including the assumption and assignment of Executory Contracts, procedures for the approval of a potential stalking horse offer with appropriate bid protections, and the conduct of an auction if there are competing bids. The Bid Procedures are intended to be largely procedural with respect to the Sale, geared towards identifying the buyer, the consideration, and the Assets to be sold. The Debtors respectfully request that the Court enter an order: granting this Motion; approving and authorizing the Sale of the Assets free and clear of all claims, interests, and encumbrances; approving and authorizing the assumption and assignment of Executory Contracts in connection with the Sale. About FCI Sand Operations LLC FCI Sand Operations, LLC is a sand mining and processing company based in Marble Falls, Texas. FCI Sand Operations and FCI South, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Lead Case No. 25-80481) on July 30, 2025. In its petition, FCI Sand Operations reported between $100 million and $500 million in assets and liabilities. Judge Michelle V. Larson oversees the cases. The Debtors are represented by Davor Rukavina, Esq. at Munsch Hardt Kopf & Harr, P.C. GrayStreet Credit, as DIP lender, is represented by David L. Curry, Jr., Esq. and Edward A. Clarkson, III, Esq. of Okin Adams Bartlett Curry, LLP. FINANCE OF AMERICA: CAO Tai Thornock Retires Effective May 15 ------------------------------------------------------------- Finance of America Companies Inc. disclosed in a regulatory filing that Tai A. Thornock, Chief Accounting Officer (principal accounting officer), notified the Company of his retirement, effective May 15, 2026. Following Mr. Thornock's retirement, Matthew A. Engel, the Company's Chief Financial Officer, will serve as the Company's principal accounting officer in addition to serving as principal financial officer. Mr. Thornock may remain with the Company as a consultant for a transitional period of time following the effective date of his retirement, as mutually agreed. Mr. Thornock's retirement was not due to any disagreement with the Company, its management, or the Company's Board of Directors. The Company extends its gratitude to Mr. Thornock for his contributions to the Company during his tenure. About Finance of America Plano, Texas-based Finance of America Companies Inc. is a financial services holding company. Through its operating subsidiaries, it operates as a modern retirement solutions platform, providing customers with access to an innovative range of retirement offerings centered on the home. In addition, Finance of America offers capital markets and portfolio management capabilities to optimize distribution to investors. As of September 30, 2025, the Company had $30.65 billion in total assets, $30.29 billion in total liabilities, and a total stockholders' equity of $365.83 million. * * * In December 2025, Fitch Ratings affirmed the Long-Term Issuer Default Ratings (IDRs) of Finance of America Companies Inc. and its subsidiaries, Finance of America Equity Capital LLC and Finance of America Funding LLC (collectively, FOA) at 'CCC'. A Positive Rating Outlook has been assigned. Fitch has also affirmed Finance of America Funding's senior secured rating at 'CCC-' with a Recovery Rating of 'RR5'. This rating action has been taken as part of a periodic peer review of non-bank mortgage companies, which is comprised of seven publicly rated firms. FLUX POWER: Triggers EBITDA Covenant Default Under Loan Agreement ----------------------------------------------------------------- Flux Power Holdings, Inc. disclosed in a regulatory filing that it determined that it failed to comply with the minimum EBITDA financial covenant for the trailing three-month period ended March 31, 2026 under the Loan and Security Agreement, dated as of July 28, 2023, by and between the Company and Gibraltar Business Capital, LLC, which resulted in an "Event of Default" under the Loan Agreement. The Company is working with GBC to negotiate an amendment to the Loan Agreement or otherwise obtain a waiver from GBC. GBC has allowed the Company to continue to have access to its line of credit under the Loan Agreement while negotiations continue, however, GBC can choose to limit this access at any time until the Company can successfully negotiate an amendment to the Loan Agreement or obtain a waiver from GBC. While the Company has in the past successfully renegotiated the terms of the Loan Agreement, and is optimistic about its ability to do so again, there can be no assurances that the Company will be able to negotiate an amendment to the Loan Agreement or obtain a waiver from GBC on terms favorable to the Company or at all. In addition, upon the occurrence of an Event of Default under the Loan Agreement, GBC may, at its option, declare its commitments to the Company terminated and all obligations of the Company under the Loan Agreement immediately due and payable, all without demand, notice or further action of any kind required on the part of GBC, and/or exercise other remedies available to it, which include, among other things, its rights as a secured party under the Loan Agreement. As of March 31, 2026, the outstanding balance under the Loan Agreement was approximately $6.5 million. About Flux Power Flux Power Holdings, Inc. (FLUX: NASDAQ), through its subsidiary Flux Power, Inc., designs, develops, and sells rechargeable lithium-ion energy storage systems for electric forklifts, airport ground support equipment (GSE), and other industrial motive applications in the United States. The Company is headquartered in Vista, California. Irvine, California-based Haskell & White LLP, the Company's auditor since 2025, issued a "going concern" qualification in its report dated September 16, 2025, attached to the Company's Annual Report on Form 10-K for the year ended June 30, 2025, citing that the Company has recurring losses from operations, an accumulated deficit, expects to incur losses for the foreseeable future and requires additional working capital to achieve its operating plans. These conditions raise substantial doubt about the Company's ability to continue as a going concern. As of December 31, 2025, the Company had $30.1 million in total assets, $22.6 million in total liabilities, and $7.5 million in total stockholders' equity. FOUR SEASONS: Case Summary & 17 Unsecured Creditors --------------------------------------------------- Debtor: Four Seasons Outdoor Services, LLC 41 Stonehouse Road New London, NH 03257 Business Description: Four Seasons Outdoor Services, LLC, based in New London, New Hampshire, operates as a landscaping and outdoor property maintenance company providing residential and small commercial services, including lawn care, landscape maintenance, garden work, and general outdoor improvements. The company serves homeowners and local property owners in the New London area with routine maintenance and light landscape construction services. Chapter 11 Petition Date: April 11, 2026 Court: United States Bankruptcy Court District of New Hampshire Case No.: 26-10317 Debtor's Counsel: Ryan M. Borden, Esq. FORD, MCDONALD & BORDEN, P.A. 815 Elm Street Suite 5 B Manchester, NH 03101 Tel: (603) 373-1613 Fax: (603) 242-1381 E-mail: rborden@fordlaw.com Total Assets: $1,238,850 Total Liabilities: $1,118,884 The petition was signed by Jacob J. Messer, Sr. as member. A full-text copy of the petition, which includes a list of the Debtor's 17 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/VHJRWHA/Four_Seasons_Outdoor_Services__nhbke-26-10317__0001.0.pdf?mcid=tGE4TAMA FUEL FITNESS: Gets Extension to Access Cash Collateral ------------------------------------------------------ The U.S. Bankruptcy Court for the Eastern District of North Carolina, Raleigh Division, extended Fuel Fitness, LLC's authority to use cash collateral to fund its operations. The 17th interim order authorized the Debtor to use cash collateral pursuant to its monthly budget, which shows total projected expenses of $73,480 for the period from March 26 to April 26. The Debtor's bankruptcy estate has an interest in revenues from the operation of its business. These revenues constitute the cash collateral of secured creditors, including Live Oak Banking Company, Newtek Bank N.A., and SofiaGrey, LLC. The Debtor owes $525,000 to Live Oak, $345,000 to NewTek, $110,000 to Fitness Investment Partners and $77,000 to SofiaGrey. As adequate protection, the secured creditors will be granted a continuing post-petition security interest in and lien on all personal property of the Debtor to the same extent and with the same priority as their pre-bankruptcy liens. As further protection, Live Oak Banking Company will receive payment of $5,000 on or before April 15. The next hearing is scheduled for April 29. The 17th interim order is available at https://shorturl.at/m83VO from PacerMonitor.com. About Fuel Fitness LLC Fuel Fitness, LLC, a company in Raleigh, N.C., filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. E.D.N.C. Case No. 24-03698) on Oct. 22, 2024, with up to $100,000 in assets and up to $10 million in liabilities. Christopher Shawn Stewart, member-manager, signed the petition. Judge Joseph N. Callaway oversees the case. The Debtor is represented by Philip Sasser, Esq., at Sasser Law Firm. Live Oak Banking Company, as secured creditor, is represented by: William Walt Pettit, Esq. Hutchens Law Firm 6230 Fairview Road, Suite 315 Charlotte, NC 28210 Phone: (704) 362-9255 walt.pettit@hutchenslawfirm.com FUEL HOMESTEAD: Gets Extension to Access Cash Collateral -------------------------------------------------------- Fuel Homestead, LLC received another extension from the U.S. Bankruptcy Court for the Eastern District of North Carolina, to use cash collateral. The court issued its 17th interim order authorizing the Debtor to use cash collateral pursuant to its budget, which shows total projected expenses of $89,930 for the period from March 26 to April 25. The Debtor's bankruptcy estate has an interest in revenues from the operation of its business. These revenues constitute the cash collateral of secured creditors, including Live Oak Banking Company, Fitness Investment Partners, Newtek, and SofiaGrey, LLC. The Debtor owes $525,000 to Live Oak, $345,000 to NewTek, $110,000 to Fitness Investment Partners and $77,000 to SofiaGrey. As adequate protection, the secured creditors will be granted a continuing post-petition security interest in and lien on all personal property of the Debtor to the same extent and with the same priority as their pre-bankruptcy liens. As additional protection, Live Oak Banking Company will receive payment in the amount of $5,000 on or before April 15. The next hearing is set for April 29. The 17th interim order is available at https://shorturl.at/FJJQj from PacerMonitor.com. About Fuel Homestead Fuel Homestead, LLC, a company in Raleigh, N.C., sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.C. Case No. 24-03699) on October 22, 2024, with up to $100,000 in assets and up to $10 million in liabilities. Christopher Shawn Stewart, member-manager, signed the petition. Judge Joseph N. Callaway oversees the case. The Debtor is represented by Philip Sasser, Esq., at Sasser Law Firm. Live Oak Banking Company, as secured creditor, is represented by: William Walt Pettit, Esq. Hutchens Law Firm 6230 Fairview Road, Suite 315 Charlotte, NC 28210 (704) 362-9255 walt.pettit@hutchenslawfirm.com FUEL REYNOLDA: Gets Extension to Access Cash Collateral ------------------------------------------------------- Fuel Reynolda, LLC received 17th interim approval from the U.S. Bankruptcy Court for the Eastern District of North Carolina, Raleigh Division, to use cash collateral to fund operations. The 17th interim order authorized the Debtor to use cash collateral pursuant to its monthly budget for the period from March 25 to April 25. The budget shows total projected expenses of $90,680 for the interim period. The Debtor's bankruptcy estate has an interest in revenues from the operation of its business. These revenues constitute the cash collateral of secured creditors, including Live Oak Banking Company, Fitness Investment Partners, Newtek, and SofiaGrey, LLC. The Debtor owes $525,000 to Live Oak, $345,000 to NewTek, $110,000 to Fitness Investment Partners and $77,000 to SofiaGrey. As protection, the secured creditors will be granted a continuing post-petition security interest in and lien on all personal property of the Debtor to the same extent and with the same priority as their pre-bankruptcy liens. In addition, Live Oak Banking Debtor will receive payment of $5,000 on or before April 15, 2026. The next hearing is set for April 29. The 17th interim order is available at https://shorturl.at/3bLZ3 from PacerMonitor.com. About Fuel Reynolda Fuel Reynolda, LLC -- https://fuelfitnessclubs.com/about/ -- doing business as Fuel Fitness, is a fitness center that offers the best free weights, strength training/cardio equipment, group fitness classes, personal training, childcare, recovery studio and smoothie bar. Fuel Reynolda sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.C. Case No. 24-03700) on October 22, 2024, with $100,000 to $500,000 in assets and $1 million to $10 million in liabilities. Christopher Shawn Stewart, member-manager, signed the petition. Judge Joseph N. Callaway oversees the case. Philip Sasser, Esq., at Sasser Law Firm is the Debtor's bankruptcy counsel. Live Oak Banking Company, as secured creditor, is represented by: William Walt Pettit, Esq. Hutchens Law Firm 6230 Fairview Road, Suite 315 Charlotte, NC 28210 (704) 362-9255 walt.pettit@hutchenslawfirm.com FULLER'S SERVICE: Seeks to Sell Vehicles to Highest Bidder ---------------------------------------------------------- N. Neville Reid, Chapter 11 trustee of Fuller's Service Center Inc., seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. On December 17, 2025, the Court granted the motion of the United States Trustee for the Northern District of Illinois and appointed N. Neville Reid as the chapter 11 Trustee for the Estate. On January 7, 2026, the Court entered an order approving the Trustee's retention of Commercial Recovery Associates (CRA) as financial advisor. After reviewing the Debtor's vehicle inventory, and mindful of the Debtor's ongoing need to cover potential cash flow deficits arising from operations, Adrian Goetz of CRA, determined that there are a number of motor vehicles owned by the Debtor that are not needed for the core operation of the Debtor's business and could be sold to generate additional working capital. Based on CRA's analysis and recommendation, the Trustee determined that selling the Vehicles is in the best interests of the Estate since they are not needed for operations and their sales will generate working capital that may not be available by other means. The Trustee seeks to sell additional vehicles from the Debtor's vehicle inventory. Prior to the Petition Date, the Debtor obtained an ownership interest in 11 motor vehicles. Six of the vehicles are encumbered by direct indebtedness to a lender with a lien on title; the remainder are unencumbered. The sale of the Vehicles can generate approximately $109,333.00 in additional working capital. All but one of the Vehicles were previously subject to a lease between the Debtor and Fuller's Home & Hardware, Inc. as amended effective January 1, 2026 that was approved by the Court on February 5, 2026. The Vehicles were being used in Fuller's Home & Hardware's snow removal business. The lienholders of the vehicles are Cornerstone National Bank & Trust Company and the Small Business Administration. Based on CRA's analysis, the sales of the Vehicles could realize approximately $109,333.00 in working capital for the Debtor's business. The Trustee seeks approval and authorization to sell the motor vehicles to CarMax or any bidder the Trustee determines offers a higher and better offer. The Trustee has determined that the sale of the Vehicles to CarMax will provide the fastest, best and highest recovery for the Estate and will avoid the additional costs associated with advertising and/or selling the Vehicles through a protracted legal auction process. The Trustee respectfully requests that the Court enter an Order and to sell the Property, free and clear of liens, claims, interests, and encumbrances. About Fuller's Service Center Inc. Fuller's Service Center, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-01345) on January 29, 2025, listing up to $1 million in assets and up to $10 million in liabilities. Douglas A. Fuller Jr., president of Fuller's Service Center, signed the petition. Judge Deborah L. Thorne oversees the case. David K. Welch, Esq., at Burke, Warren, MacKay & Serritella, P.C., is the Debtor's legal counsel. G3 CONSTRUCTION: Court OKs Pensacola Property Sale to Daniel Shear ------------------------------------------------------------------ The U.S. Bankruptcy Court for the Northern District of Florida, Panama City Division, has granted G3 Construction Group, Inc. to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor owns real property located at 8401 Untreiner Ave, Pensacola, FL 32534, which is unencumbered. The Debtor has obtained a cash offer to purchase the Property for $400,000.00 from Daniel H. Shear (or assignee). The Court has authorized the Debtor to sell the Property to Daniel H. Shear or his assigns free and clear of all liens, claims, encumbrances, and interests: a. Street Address: 8401 Untreiner Ave., Pensacola, FL 32534 b. Real Property Tax ID: 231S301102000002 The Debtor is authorized to execute and deliver such documents and perform all things necessary to effectuate the sale. The Buyer is a good faith purchaser and shall be entitled to the protections set forth in 11 U.S.C. Section 363(m) and the sale shall not be subject to avoidance under Section 363(n) of the Bankruptcy Code. About G3 Construction Group Inc. G3 Construction Group, Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Fla. Case No. 26-50030) on February 17, 2026, listing $1 million to $10 million in both assets and liabilities. Judge Karen K. Specie oversees the case. Byron Wright, III, Esq., at Bruner Wright, P.A. serves as the Debtor's legal counsel. GARNET HEALTH: Moody's Puts 'Ba3' Rating on Review for Upgrade -------------------------------------------------------------- Moody's Ratings has placed Garnet Health Medical Center's (Garnet) (NY) Ba3 rating under review for upgrade; previously the outlook was negative. The system has approximately $239 million of debt outstanding. The rating has been placed under review following the execution of the proposed Member Substitution Agreement. RATINGS RATIONALE / FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The review for upgrade reflects the proposed affiliation between Garnet and Montefiore Health System (Baa3 negative), including execution of the Member Substitution Agreement on April 03, 2026. The review will focus on the system's ability to obtain regulatory approvals and successfully close the affiliation, which could take up to a year, or longer depending on regulatory process. Failure to stabilize operations and liquidity, material delays in closing, or denial of regulatory approvals could result in a review of the rating trajectory. PROFILE Garnet Health Medical Center (GHMC) is a 383-bed acute care hospital located in Orange County, serving as a regional referral center in the mid-Hudson Valley region of New York State. Garnet Health (GH) is located in Middletown, New York, is the sole member and active parent company of GHMC and Garnet Health Medical Center - Catskills, a 218-bed acute care hospital in Sullivan County. METHODOLOGY The principal methodology used in these ratings was Not-for-profit Healthcare published in October 2024. GBS BARR HOLDINGS: Gets Final OK to Use Cash Collateral ------------------------------------------------------- GBS Barr Holdings, LLC on April 16 received final approval from the U.S. Bankruptcy Court for the Western District of Texas, Austin Division, to use cash collateral. Under the final order, the Debtor is authorized to use cash collateral strictly in accordance with the approved budget, with a 10% variance per line item and 5% overall variance, unless further approval is obtained from lenders or the court. As adequate protection, lenders with pre-petition liens that are valid, perfected, enforceable and nonavoidable will be granted replacement liens on all post-petition assets of the Debtor in case of any diminution in value of their pre-petition liens. The replacement liens do not apply to Chapter 5 avoidance actions and will have the same validity, priority, and enforceability as the lenders' pre-petition liens. The lenders include First United Bank and Trust Co., the U.S. Small Business Administration, the IRS, and several merchant cash advance lenders. Based on UCC searches conducted a day after its Chapter 11 filing, the Debtor estimates total accounts receivable, inventory, and equipment at $117,465 and allocates estimated collateral values according to lien priority. Only the earliest-filed liens -- primarily First United Bank -- appear to be supported by remaining collateral value while later filers are estimated as effectively unsecured. A copy of the final order and the Debtor's budget is available at https://is.gd/zdxHq0 from PacerMonitor.com About GBS Barr Holdings LLC GBS Barr Holdings, LLC is a Texas-based auto detailing company operating in Texas and South Dakota. GBS Barr Holdings sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Texas Case No. 26-60193) on March 2, 2026. In the petition signed by Gram B. Short, owner, the Debtor disclosed up to $100,000 in assets and up to $10 million in liabilities. Judge Michael M. Parker oversees the case. Frank B. Lyon, Esq., and Kimberly Nash, Esq., attorneys practicing in Austin, Texas, represent the Debtor. GEDDO CORP: Files Emergency Bid to Use Cash Collateral ------------------------------------------------------ Geddo Corporation and affiliates ask the U.S. Bankruptcy Court for the Central District of California, Santa Ana Division, for authority to use cash collateral and provide adequate protection. The Debtors' financial crisis was primarily precipitated by a series of Merchant Cash Advance loans totaling over $5.2 million from approximately forty different lenders. These loans, used to fund the buildout of new franchises, carried exorbitant average interest rates of 197%. The Debtors allege that these MCA lenders utilized a "deceitful playbook," draining cash directly from the companies' bank accounts and refusing to negotiate prepetition, which led to defaults with the franchisor and trade vendors. Despite these challenges, the Debtors reported total sales of over $24 million in 2025, though they suffered a consolidated net loss of approximately $920,000. The Debtors' contend that the MCA lenders do not hold validly perfected secured claims. They argue that many lenders failed to file proper financing statements in the correct jurisdictions (the state of incorporation) and that, as a matter of law, a "sale" of future receivables is a legal impossibility because a party cannot transfer property that does not yet exist. Furthermore, the Debtors characterize these agreements as disguised, usurious loans rather than true sales. By seeking the use of cash collateral, the Debtors aim to stabilize operations, protect the jobs of their approximately 261 employees, and pave the way for a successful reorganization that would provide a better recovery for all creditors than a liquidation. To protect the interests of their secured creditors, the Debtors propose granting post-petition replacement liens on their assets and have submitted detailed operating budgets that allow for a 15% variance in expenditures. A copy of the motion is available at https://urlcurt.com/u?l=YCpQir from PacerMonitor.com. About Geddo Corporation Geddo Corporation is a business entity operating in the U.S., though specific operational details were not disclosed in initial filings. Geddo Corporation sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-11022) on March 31, 2026. In its petition, the Debtor reports estimated assets of $1 million to $10 million and estimated liabilities of $1 million to $10 million. Honorable Bankruptcy Judge Mark D. Houle handles the case. The Debtor is represented by Garrick A. Hollander, Esq., of Garrick A. Hollander, LLP. GOLIATH VENTURES: U.S. Trustee Appoints Creditors' Committee ------------------------------------------------------------ The U.S. Trustee for Region 21 appointed an official committee to represent unsecured creditors in the Chapter 11 cases of Goliath Ventures Inc., formerly doing business as Gen-Z Venture Firm Inc., and Goliath Ventures Inc., formerly known as Goliath Ventures Inc., a FL corporation. The committee members are: 1. John D. Euliano Revocable Trust c/o Jordan A. Shaw Counsel: Jordan A. Shaw, Esq. 110 SE 6th Street, Suite 2900 Ft. Lauderdale, FL 33301 jshaw@shawlewenz.com 2. ECLYFE LLC c/o Jordan A. Shaw Counsel: Jordan A. Shaw, Esq. 110 SE 6th Street, Suite 2900 Ft. Lauderdale, FL jshaw@shawlewenz.com 3. Jerry Stanley 1022 Trust 311 Dolcetto Court Lakeway, TX 78738 jerrystanley10@gmail.com 4. Jigisha Patel 12 Hidden Meadow Dr. Scotch Plains, NJ 07076 jigishashah@yahoo.com 5. Michael Holguin & Co. Ltd. 81 Showcase Drive Hannon, Ontario L0R-1P0 Mholguin12@hotmail.com 6. Gaurang Patel 45 Burniston Ct. Hillsborough, NJ 08844 gaupatel79@gmail.com 7. Jay Kansal 4450 Leesburg Rd. Marietta, GA 30066 drjaykansal@gmail.com Official creditors' committees serve as fiduciaries to the general population of creditors they represent. They may investigate the debtor's business and financial affairs. Committees have the right to employ legal counsel, accountants and financial advisors at a debtor's expense. About Goliath Ventures Inc. Goliath Ventures Inc., formerly known as Gen-Z Venture Firm Inc., incorporated in Florida, was a cryptocurrency investment firm offering high-yield digital asset programs and liquidity pool investments to institutional and retail investors. A Florida court appointed Michael S. Budwick as receiver to secure remaining assets and records. Goliath Ventures and affiliate Goliath Ventures Inc., formerly known as Goliath Ventures Inc., a FL corporation, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Lead Case No. 26-13174) on March 16, 2026. Michael S. Budwick, receiver of Goliath Ventures, signed the petition. At the time of the filing, Goliath Ventures reported $1 million to $10 million in assets and $100 million to $500 million in liabilities. Judge Laurel M. Isicoff presides over the cases. The Debtors are represented by: Solomon B. Genet, Esq. Meland Budwick, P.A. 200 South Biscayne Boulevard Suite 3200 Miami, FL 33131 Tel: (305) 358-6363 Email: sgenet@melandbudwick.com HAMJ INVESTMENT: Seeks Cash Collateral Access --------------------------------------------- HamJ Investment, Inc asks the U.S. Bankruptcy Court for the Southern District of Georgia for authority to use cash collateral and provide adequate protection. The cash collateral consists primarily rental income generated from its commercial real estate operations. The Debtor's primary revenue source is monthly rental income of approximately $3,725, which constitutes cash collateral because certain creditors may have a security interest in these funds. The Debtor identifies Ameris Bank as the primary secured creditor with a valid interest in this cash collateral through recorded security deeds and an assignment of rents, while another entity, Coastal Area District Development Authority, may have a questionable or defective security interest due to inconsistencies in the Debtor's legal name and lack of a clear rent assignment. The Debtor argues that immediate access to this cash collateral is critical to avoid disruption of operations and preserve the value of the estate. It has submitted both a long-term budget (through March 2027) and an interim budget covering urgent expenses such as insurance, utilities, and maintenance. Without the ability to use these funds, the Debtor risks immediate and irreparable harm. As adequate protection, the Debtor proposes to make monthly payments of $1,365 to Ameris Bank, thereby compensating for any potential diminution in the value of its collateral. A copy of the motion is available at https://urlcurt.com/u?l=peeF4R from PacerMonitor.com. About HamJ Investment, Inc HamJ Investment, Inc sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ga. Case No. 26-20105-MJK) on April 6, 2026. In the petition signed by Abraham Joseph, chief executive officer, the Debtor disclosed up to $10 million in assets and up to $500,000 in liabilities. Judge Michele J. Kim oversees the case. Jon Levis, Esq., at Levis Law Firm, LLC, represents the Debtor as legal counsel. HEALTHIER CHOICES: Secures $5MM Loan Facility From Sabby -------------------------------------------------------- Healthier Choices Management Corp. disclosed in a regulatory filing that it entered into a Loan Agreement with Sabby Volatility Warrant Master Fund, Ltd. Under the agreement, the Company may borrow up to $5 million for working capital purposes. Amounts drawn bear interest at 12% per annum, and the facility matures on December 31, 2026. The obligations under the Loan Agreement are unsecured. The Company initially drew $500,000 on March 27, 2026. A full text copy of the Loan Agreement is available at https://tinyurl.com/2rfwhhwk About Healthier Choices Management Corp. Healthier Choices Management Corp. (HCMC) focuses on marketing its patented Q-Cup and Imitine products and monetizing its intellectual property through licensing and royalty agreements via its wholly owned subsidiary, HCMC Intellectual Property Holdings, LLC. The IP portfolio covers patents related to these products, and the company continues to pursue licensing, joint ventures, and other commercialization opportunities to generate revenue. HCMC promotes its Q-Cup technology directly to consumers, offering a quartz cup design that heats concentrates externally for both medicinal and recreational use, providing efficiency and convenience. TAAD LLP, in an audit report dated March 27, 2026, issued a going concern qualification, noting recurring net losses and operations that have not generated cash flows, which raised substantial doubt about the company's ability to continue as a going concern. As of Dec. 31, 2025, Healthier Choices held $1.47 million in total assets, $1.59 million in total liabilities, $1.11 million in convertible preferred stock, and a stockholders' deficit of $1.23 million. Cash on hand was $1.1 million, with negative working capital of $0.3 million HEALTHIER CHOICES: Terminates $5 Million Revolving Credit Facility ------------------------------------------------------------------ Healthier Choices Management Corp. disclosed in a regulatory filing that it terminated a previously established revolving line of credit with a private lender. On May 16, 2024, the Company entered into a Commitment Letter with the lender, pursuant to which it could borrow up to $5.0 million for general working capital purposes. On March 27, 2026, the Commitment Letter was terminated pursuant to a letter agreement between the parties. A full text copy of the Termination Letter is available at https://tinyurl.com/ya5vrzmx About Healthier Choices Management Corp. Healthier Choices Management Corp. (HCMC) focuses on marketing its patented Q-Cup and Imitine products and monetizing its intellectual property through licensing and royalty agreements via its wholly owned subsidiary, HCMC Intellectual Property Holdings, LLC. The IP portfolio covers patents related to these products, and the company continues to pursue licensing, joint ventures, and other commercialization opportunities to generate revenue. HCMC promotes its Q-Cup technology directly to consumers, offering a quartz cup design that heats concentrates externally for both medicinal and recreational use, providing efficiency and convenience. TAAD LLP, in an audit report dated March 27, 2026, issued a going concern qualification, noting recurring net losses and operations that have not generated cash flows, which raised substantial doubt about the company's ability to continue as a going concern. As of Dec. 31, 2025, Healthier Choices held $1.47 million in total assets, $1.59 million in total liabilities, $1.11 million in convertible preferred stock, and a stockholders' deficit of $1.23 million. Cash on hand was $1.1 million, with negative working capital of $0.3 million HPC VINEBURN: Seeks to Extend Plan Exclusivity to August 5 ---------------------------------------------------------- HPC Vineburn, LLC, asked the U.S. Bankruptcy Court for the Central District of California to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to Aug. 5 and Oct. 2, 2026, respectively. The Debtor explains that the relevant factors demonstrate good cause for the requested extensions: * The case is sufficiently complex to generate various contingencies that will need to be resolved. These include (i) the amount of the Judgment Creditors' claim; (ii) the extent to which the Judgment Creditors are undersecured and whether they will elect to be in two classes or only one; and (iii) the value of the Vineburn Property for Plan confirmation purposes. The parties and the Court have agreed that the valuation question should be established before Judgment Creditors are required to make any decision under Section 1111(b). * Prior to the litigation with the Judgment Creditors, the Debtor was operating at a profit and paying all debts as they came due from the operations of the business. Moreover, demonstrative of Debtor's good faith, the Debtor has negotiated with John Hancock and continues to pay its loan obligations to the senior secured creditor during the pendency of this case. The Debtor is current with all of its reporting requirements and is following all applicable U.S. Trustee guidelines. * The Debtor is current on all of its monthly expenses, although it has had to rely on others (including its insurance carriers and its manager and principal) to meet its ongoing obligations regarding professional fees. * The Debtor has successfully fought off a determined effort by the Judgment Creditors to label this a "bad faith" filing and has diligently pursued the liquidation of the Judgment Creditors' claim by prosecuting the Appeal as swiftly as possible, despite Judgment Creditors' efforts to thwart those attempts, first by objecting to the Debtor's motion for relief from stay to pursue the Appeal, then by objecting to the Debtor's efforts to employ special litigation counsel to prosecute the Appeal, objecting to Debtor's first request to extend exclusivity despite their own agreement to the initial Disclosure Statement hearing date, and by repeatedly asserting non-disclosure related objections to the Disclosure Statement. * The Debtor believes that a restructuring of its debts through amortization is achievable. The Plan is a "toggle" plan, which provides for multiple contingencies depending on the results of the Appeal. * The Debtor believes it has proposed a plan that will be consensual as to all creditors except the Judgment Creditors. Despite the Debtor's efforts to negotiate with the Judgment Creditors in good faith, including the failed mediation held on March 11, 2026, the Debtor has been unable to reach a resolution with the Judgment Creditors. The Debtor believes the remainder of the creditor body will support the reorganization. * The Debtor is not seeking an extension of exclusivity to pressure creditors, avoid its obligations under the Bankruptcy Code, or otherwise cause prejudice to any party. Rather, the Debtor's efforts in this case have been delayed in large part by the actions of Judgment Creditors throughout these proceedings. HPC Vineburn, LLC is represented by: Michael B. Reynolds, Esq. Andrew B. Still, Esq. Allison C. Murray, Esq. SNELL & WILMER L.L.P. 600 Anton Boulevard, Suite 1400 Costa Mesa, CA 92626-7689 Telephone: (714) 427-7000 E-mail: mreynolds@swlaw.com About HPC Vineburn, LLC HPC Vineburn LLC is a single asset real estate entity as defined under 11 U.S.C. Section 101(51B), with its principal assets located at 1919 Vineburn Avenue in Los Angeles, California. The Company's operations focus primarily on managing and holding this real estate asset. HPC Vineburn LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-11455) on Aug. 8, 2025. In its petition, the Debtor estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Martin R. Barash handles the case. The Debtor is represented by Michael B. Reynolds, Esq. at SNELL & WILMER L.L.P. HYPERMIND CORP: Seeks Cash Collateral Access Until July 1 --------------------------------------------------------- HyperMind Corp., d.b.a. Paris Bakery, asks the U.S. Bankruptcy Court for the Northern District of California, for authority to use cash collateral and provide adequate protection, through July 1. The Debtor operates two bakery locations in Monterey County, California, but the Seaside location is economically unsustainable, prompting a Subchapter V Chapter 11 filing on April 1 to restructure around its profitable Monterey location. The Debtor requests access to cash collateral to cover essential operating expenses, including payroll, rent, inventory, and insurance, to preserve the business;s going concern value. The Debtor proposes adequate protection to secured creditors—First Internet Bank of Indiana, Web Bank (Toast Capital), and Libertas Funding—through monthly cash payments, replacement liens, and continued business operations. A copy of the motion is available at https://urlcurt.com/u?l=PEIYsG from PacerMonitor.com. About HyperMind Corp. HyperMind Corp., doing business as Paris Bakery, has operated since the mid-1980s, selling breads, pastries, and cafe items through retail locations in Monterey and Seaside while supplying restaurants, hotels, and coffee houses with wholesale baked goods. Founded by Jackie Jegat, who trained in France, the bakery was sold in 2024 to new owner Hector Capelo, who continues operations offering croissants, baguettes, specialty pastries, and espresso drinks. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 26-50528) on April 1, 2026. In the petition signed by Hector Capelo, CEO, the Debtor disclosed $193,247 in total assets and $1,680,424 in total liabilities. Judge Stephen L. Johnson oversees the case. Arasto Farsad, Esq., at FARSAD LAW OFFICE, P.C., represents the Debtor as legal counsel. IES ELEVATOR: Jose Diaz Crespo Named Subchapter V Trustee --------------------------------------------------------- The U.S. Trustee for Region 21 appointed Jose Diaz Crespo as Subchapter V trustee for IES Elevator Group Corp. Mr. Diaz Crespo will be paid an hourly fee of $200 for his services as Subchapter V trustee and will be reimbursed for work related expenses incurred. Also, a retainer of $2,500 is requested. Mr. Diaz Crespo declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. About IES Elevator Group Corp. IES Elevator Group Corp. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.P.R. Case No. 26-01519-11) on April 01, 2026, with $0 to $50,000 in assets and $500,001 to $1 million in liabilities. Jesus Enrique Batista Sanchez, Esq. at The Batista Law Group, Psc represents the Debtor as legal counsel. INSPIRED HEALTH: Creditors Say Ch. 11 Mediation Request Was Prem ---------------------------------------------------------------- Clara Geoghegan of Law360 reports that a group of lenders and unsecured creditors has asked a Texas bankruptcy court to deny Inspired Healthcare Capital's request to appoint a mediator, arguing that the move is premature in the company's Chapter 11 case. They say the senior-living operator is seeking mediation before critical issues have been fully explored. The creditors warned that mandatory mediation at this stage could restrict their rights and shape negotiations in ways that are not yet appropriate. They stressed that more time is needed to assess the debtor's financial situation and the viability of any proposed restructuring plan, the report states. As a result, the objectors are calling on the court to hold off on ordering mediation until the case is further along. The filing underscores ongoing friction between the debtor and its creditors over how best to proceed with restructuring efforts, according to Law360. About Inspired Health Capital Fund Services, LLC Inspired Healthcare Capital operates as a private equity firm specializing in senior housing. Its portfolio includes 35 operating senior living communities in 14 states, providing housing and care services to roughly 2,620 residents across independent living, assisted living, and memory care settings. Inspired Health Capital Fund Services, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 26-90004) on February 2, 2026. In its petition, the Debtor reports $1 billion to $10 billion in both assets and liabilities. Honorable Bankruptcy Judge Mark X. Mullin handles the case. The Debtor is represented by Marcus Alan Helt, Esq. of Mcdermott Will & Schulte LLP. M. Benjamin Jones of Ankura Consulting Group, LLC serves as Financial Advisor/CRO. Raymond James & Associates, Inc. serves as Investment Banker.Epiq Corporate Restructuring, LLC serves as Claims Agent. Realty Cap Advisors, LLC serves as Equity Security Holders with 100% equity interest. INSPIREMD INC: Signs $75MM Equity Distribution Agreement With BTIG ------------------------------------------------------------------ InspireMD, Inc. disclosed in a regulatory filing that it entered into an Equity Distribution Agreement with BTIG, LLC, as sales agent, pursuant to which the Company may offer and sell, from time to time, at its option, through or to BTIG shares of the Company's common stock, $0.0001 par value per share. Pursuant to the prospectus supplement relating to the Offering, dated as of April 3, 2026, the Company may offer and sell up to $75,000,000 of Shares. Any Shares to be offered and sold under the Equity Distribution Agreement will be issued and sold pursuant to the Company's Registration Statement on Form S-3 (File No. 333-286309), filed with the U.S. Securities and Exchange Commission on April 1, 2025, and declared effective by the SEC on April 10, 2025, and the related prospectus contained therein, as supplemented by the Prospectus Supplement, by any method permitted by law deemed to be an "at the market offering" as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended, and, subject to the terms of any placement notice under the Equity Distribution Agreement, BTIG may also sell Shares in negotiated transactions at market prices prevailing at the time of sale or at prices related to such prevailing market prices and/or any other method permitted by law, subject to the prior written consent of the Company. Subject to the terms of the Equity Distribution Agreement, BTIG will use its commercially reasonable efforts consistent with its normal trading and sales practices and applicable state and federal laws, rules and regulations and the rules of The Nasdaq Capital Market to sell the Shares from time to time, based upon the Company's instructions (including any price, time or size limits or other customary parameters or conditions the Company may impose). The Company cannot provide any assurances that it will issue any Shares pursuant to the Equity Distribution Agreement. BTIG is entitled to a commission of up to 3.0% of the gross proceeds from the Shares sold under the Equity Distribution Agreement. The Equity Distribution Agreement contains representations, warranties and covenants that are customary for transactions of this type. The Company has agreed to provide BTIG with customary indemnification rights with respect to certain liabilities, including liabilities under the Securities Act and the Securities Exchange Act of 1934, as amended. The Company currently intends to use any net proceeds from the Offering for its operations, including, but not limited to, research and development, sales and marketing, and working capital and other general corporate purposes, and any other purposes that may be stated in any future prospectus supplement. A full text copy of the Equity Distribution Agreement is available at https://tinyurl.com/49hw2z4u. A copy of the opinion of Greenberg Traurig, LLP relating to the legality of the securities is available at https://tinyurl.com/25a7x74v About InspireMD Headquartered in Tel Aviv, Israel, InspireMD, Inc. -- http://www.inspiremd.com/-- is a medical device company focusing on the development and commercialization of its proprietary MicroNet stent platform technology for the treatment of complex vascular and coronary disease. A stent is an expandable "scaffold-like" device, usually constructed of a metallic material, that is inserted into an artery to expand the inside passage and improve blood flow. Its MicroNet, a micron mesh sleeve, is wrapped over a stent to provide embolic protection in stenting procedures. Tel-Aviv, Israel-based Kesselman & Kesselman, the Company's auditor since 2010, issued a "going concern" qualification in its report dated March 18, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has suffered recurring losses from operations and cash outflows from operating activities that raise substantial doubt about its ability to continue as a going concern. As of December 31, 2025, the Company had $69.4 million in total assets and $14.2 million in total liabilities, and total stockholders' equity of $55.2 million. INSPIREMD INC: Terminates $75M Piper Sandler ATM Offering Agreement ------------------------------------------------------------------- InspireMD, Inc. previously entered into that certain equity distribution agreement dated May 31, 2024, with Piper Sandler & Co., as sales agent, with respect to the issuance and sale of up to $75,000,000 of Shares, from time to time in an "at the market offering" registered pursuant the Company's Registration Statement. Effective as of April 3, 2026, the Company terminated: (i) the Piper EDA and (ii) the prospectus related to the Prior ATM Offering. The Company is not subject to any termination penalties related to the termination of the Piper EDA. As of April 3, 2026, the Company sold 1,361,519 shares of common stock pursuant to the Piper EDA. As a result of the termination of the Piper EDA, the Company will not offer or sell any shares under the Prior ATM Offering. About InspireMD Headquartered in Tel Aviv, Israel, InspireMD, Inc. -- http://www.inspiremd.com/-- is a medical device company focusing on the development and commercialization of its proprietary MicroNet stent platform technology for the treatment of complex vascular and coronary disease. A stent is an expandable "scaffold-like" device, usually constructed of a metallic material, that is inserted into an artery to expand the inside passage and improve blood flow. Its MicroNet, a micron mesh sleeve, is wrapped over a stent to provide embolic protection in stenting procedures. Tel-Aviv, Israel-based Kesselman & Kesselman, the Company's auditor since 2010, issued a "going concern" qualification in its report dated March 18, 2026, attached to the Company's Annual Report on Form 10-K for the year ended December 31, 2025, citing that the Company has suffered recurring losses from operations and cash outflows from operating activities that raise substantial doubt about its ability to continue as a going concern. As of December 31, 2025, the Company had $69.4 million in total assets and $14.2 million in total liabilities, and total stockholders' equity of $55.2 million. INTREX INC: Court Confirms First Amended Plan of Reorganization --------------------------------------------------------------- Joseph N. Callaway of the U.S. Bankruptcy Court for the Eastern District of North Carolina confirmed the First Amended Plan of Reorganization for Small Business Under Chapter 11 filed by Intrex, Inc. The Court makes the following findings of fact and conclusions of law: 1. The Plan and the proponent comply with all requirements of 11 U.S.C. Sec. 1191(a) and (b) in that there are two impaired classes of creditors, but not all classes accepted. a. Class 2, the secured claim of the Small Business Administration, emailed that it did not object to the Plan, but did not submit a ballot. b. Class 3, the Unsecured Claims, accepted their treatment 100% in amount and votes. 2. As to Class 2, the Court finds that the SBA did not object, but this is not acceptance. As to the Plan’s treatment to Class 2, the Plan: a. does not discriminate unfairly; b. is fair and equitable in that it: i. meets the requirements of 11 U.S.C. Sec. 1129(b)(2)(A); and ii. provides the projected disposable income of the Debtor to be received in the 5-year period of the Plan will be applied to make payments under the Plan; and c. the Debtor will be able to make all payments under the Plan; or there is a reasonable likelihood that the Debtor will be able to make all payments under the Plan; and the Plan provides appropriate remedies, which may include the liquidation of nonexempt assets, to protect the holders of claims or interests in the event that the payments are not made. Notwithstanding 11 U.S.C. Sec. 1194(b), the Reorganized Debtor, and not the Subchapter V Trustee, is authorized and shall make payments to creditors under the Plan. A copy of the Court's Order dated April 16, 2026, is available at http://urlcurt.com/u?l=HIFmWhfrom PacerMonitor.com. About Intrex, Inc. Intrex, Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.C. Case No. 25-03407) on September 2, 2025. William H. Kroll, Esq. at Gaskins Hancock Tuttle Hash LLP represents the Debtor as counsel. IR4C INC: Court Denies Lakeland Property Sale to Gregory Madden --------------------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Florida, Tampa Division, denies IR4C Inc. to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor's Property is located at 3715 Drane Field Road, Lakeland, Florida. On October 24, 2025, Debtor filed its 363 motion to sell the property to Gregory A. Madden for the amount of $3,650,000 free and clear of all liens. The motion was granted on November 18, 2025, and pursuant to the contract, the buyer immediately began his due diligence investigation. A significant portion of the due diligence involved the partitioning of the building into separate sections, which requires the construction of a demising wall. While the buyer anticipated costs in this process, several latent electrical and plumbing issues were not discovered until the due diligence period began. During the due diligence period, the buyer learned that its original estimate of $60,000 for the demising wall was drastically low and that the required construction would exceed $300,000. The latent construction problems discovered by this buyer during its due diligence are not unique and pose a significant devaluation to the debtor's property. The building as it is currently configured, would not be up to code for multi-tenant occupancy. The buyer is willing to complete the purchase of the property if it is credited $190,000 at closing. The Debtor asserts that it would be a sound business decision to sell the property to the buyer for the contract price already approved by this Court previously, and to also, as an additional term, provide the requested credit to the buyer. The Debtor seeks to sell the property to the buyer as a "highest and best" offer which will, overall, maximize the return to the bankruptcy estate. The Court, having considered the Motion, together with the record and the arguments and proffers of counsel, and for the reasons stated orally and recorded in open court that shall constitute the decision. The Court has denied the Debtor to sell the Property. About IR4C Inc. IR4C, Inc., a company in Lakeland, Fla., is the owner and operator of a mobile application fitness program using augmented reality to create virtual "races." It conducts business under the name Yes.Fit and Make Yes Happen. IR4C filed Chapter 11 bankruptcy petition (Bankr. M.D. Fla. Case No. 24-05458) on Sept. 13, 2024. In its petition, IR4C listed total assets of $4,280,839 and total liabilities of $7,922,422. IR4C President Kevin D. Transue signed the petition. Judge Roberta A. Colton oversees the case. Samantha L. Dammer, Esq., at Bleakley Bavol Denman & Grace is the Debtor's legal counsel. Lake Michigan Credit Union, as secured creditor, is represented by Andrew W. Lennox, Esq., and Casey Reeder Lennox, Esq., at Lennox Law, P.A., in Tampa, Florida. JSMITH CIVIL: Court Extends Time to Respond to Barnhill Claim ------------------------------------------------------------- Judge Joseph N. Callaway of the U.S. Bankruptcy Court for the Eastern District of North Carolina granted JSmith Civil LLC's fourth motion for extension of time to respond to the claim filed by Barnhill Contracting Company. The time to reply or otherwise respond to the objection to Barnhill's claim is extended to the earlier of 60 days from the date of this Order, or 30 days from the issuance of the decision in the Arbitration. A copy the Court's Order dated April 7, 2026, is available at http://urlcurt.com/u?l=HGNrlIfrom PacerMonitor.com. About JSmith Civil LLC JSmith Civil LLC is a Goldsboro contractor. JSmith Civil LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.C. Case No. 23-02734) on Sept. 19, 2023. In the petition filed by Jeremy Smith, as president, the Debtor estimated assets and liabilities between $10 million and $50 million each. Judge Joseph N. Callaway oversees the case. The Debtor is represented by Joseph Zachary Frost, Esq., at Buckmiller, Boyette & Frost, PLLC. JVK OPERATIONS: Emerges from Chapter 11 Backed by Sundara Partners ------------------------------------------------------------------ JVK Operations Limited, now also doing business as Lighthouse Linen, and one of the largest independent commercial linen service providers in the U.S., announced on April 14, 2026, that it has successfully emerged from Chapter 11 reorganization. The Plan of Reorganization, confirmed by the United States Bankruptcy Court for the Eastern District of New York on January 12, 2026, became effective on March 13, 2026. The company's emergence is facilitated by a control investment from Sundara Partners, LLC, a New York-based private investment firm. Throughout the reorganization, the company executed a comprehensive financial and operational transformation, rebuilding its balance sheet, modernizing its production and technology infrastructure, and establishing a leadership team capable of supporting long-term, sustainable growth. Two Divisions. One Standard of Excellence. Lighthouse Linen will operate through two dedicated divisions, each with its own facilities: Lighthouse Healthcare serves hospitals, health systems, nursing homes, ambulatory surgery centers, and long-term care facilities. The division provides linen rental, customer-owned goods processing, scrub and uniform programs, exchange cart systems, specialty linen handling, and on-site linen distribution management. Its operations are designed to meet the rigorous infection control, quality assurance, and on-time delivery standards required in acute care environments. Lighthouse Hospitality serves hotels, restaurants, hospitality groups, and event venues. The division provides bed linen, table linen, toweling, food-and-beverage textiles, and coordinated pickup and delivery logistics. Its operations are designed around the consistency, presentation quality, and responsiveness that hospitality operators depend on. Leadership Joseph Samuel, a veteran commercial textile care executive, will serve as the company's President. "We have a deep understanding of our customers' needs because we've spent decades inside their facilities, working every day alongside nurses and housekeepers. With the right financial backing now behind us, we're investing more than ever in speed, quality, and reliability to build on that experience and serve our customers at an even higher level, " said Mr. Samuel. Vinny Samuel, a pioneer in the industry with over four decades of building and scaling high-performing facilities, will lead operations. Jordan Berger and Austin Taylor, Managing Partners of Sundara Partners, will serve as directors of the company and are responsible for strategic direction and financial oversight. "Lighthouse's reorganization provided a rare opportunity to redesign the entire business around the customer experience. The company is now capitalized for growth, structured for execution, and led by some of the best commercial linen operators in the country. We couldn't be more excited to partner with this team and invest behind what they've built," said Mr. Berger and Mr. Taylor. The Market The company's service territory, spanning New York, New Jersey, Connecticut, and surrounding regions, represents one of the largest and most concentrated commercial linen markets in the United States. Lighthouse Linen emerges at a moment when healthcare and hospitality operators in the region are actively seeking more reliable, responsive, and professionally managed linen partners. With two dedicated production facilities capable of processing several million pounds of textiles monthly, Lighthouse Linen operates at a scale that few independent commercial linen processors in the country can match. The company's capabilities allow it to serve institutions ranging from single-site nursing homes to multi-campus hospital systems. Lighthouse Linen owns the entire linen function for its customers, from procurement and processing to inventory management, delivery, on-site distribution, and quality assurance, so that facility operators can treat linen as a solved problem and focus on what they do best. The company is actively onboarding new healthcare and hospitality accounts across its service territory. About Lighthouse Linen Lighthouse Linen is a full-service commercial linen and textile solutions provider headquartered on Long Island, New York. The company operates two dedicated divisions, Lighthouse Healthcare and Lighthouse Hospitality, serving hospitals, health systems, nursing homes, hotels, restaurant groups, and commercial accounts across the Northeast. Learn more at www.lighthouse-linen.com. About Sundara Partners Sundara Partners is a private investment firm that acquires and revitalizes businesses in special situations. Sundara provides customized capital solutions and hands-on operational leadership to invest in, transform, and grow small and medium-sized businesses. Learn more at www.sundarapartners.com. Advisors In the reorganization, JVK Operations Limited was represented by Spence Law Office, P.C. Sundara Partners was represented by Westerman Ball Ederer Miller Zucker & Sharfstein, LLP. About JVK Operations Limited JVK Operations Ltd. is a provider of linen and garments laundry services for healthcare facilities on the East Coast. JVK was founded in 2004 and has been servicing hospitals, nursing homes and healthcare institutions. The Company's processing services include sorting of the soiled linen, washing, drying, ironing packing and delivery according to customer specifications. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 24-70800) on March 1, 2024. In the petition signed by Vinod Samuel, president, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Robert E. Grossman oversees the case. Robert J. Spence, Esq., at SPENCE LAW OFFICE, P.C., is the Debtor's legal counsel. KAISA GROUP: Seeks U.S. Recognition of Chapter 15 Restructuring --------------------------------------------------------------- Randi Love of Law360 reports that Kaisa Group Holdings Ltd., a Hong Kong-based investment firm, has asked a U.S. bankruptcy court to recognize its foreign restructuring proceeding amid significant liquidity constraints. The request comes as the company seeks protection for its ongoing restructuring efforts. The firm filed for Chapter 15 relief on April 10, 2026, aiming to halt a New York state court lawsuit initiated by a holder of secured notes totaling about $90 million. The case forms part of broader creditor disputes tied to the company's financial restructuring. At issue is litigation brought by Oasis Investments II Master Fund Ltd. against Kaisa and another investment entity. Kaisa argued that an adverse judgment of roughly $20 million could trigger defaults under its debt structure and undermine its restructuring process. About Kaisa Group Holdings Ltd. Kaisa Group is a Hong Kong investment firm. Kaisa Group sought relief under Chapter 15 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 26-10818) on April 10, 2026. Honorable Bankruptcy Judge John P. Mastando III. The Debtor is represented by Anthony Grossi, Esq., of Sidley Austin LLP. KEHE DISTRIBUTORS: S&P Rates New $500MM Senior Secured Notes 'B-' ----------------------------------------------------------------- S&P Global Ratings assigned its 'B-' issue-level rating and '5' recovery rating to the proposed $500 million senior secured notes due 2033 issued by Illinois-based organic and specialty foods distributor KeHE Distributors Holdings LLC's (KeHE) wholly owned subsidiary KeHE Distributors LLC, as well as co-issuers KeHE Finance Corp. and NextWave Distribution Inc. (not rated). The '5' recovery rating indicates its expectation for modest (10%-30%; rounded estimate: 25%) recovery for lenders in the event of a payment default. All S&P's existing ratings on KeHE, including the 'B' issuer credit rating, are unchanged. The stable outlook reflects its expectation the company will modestly improve its leverage to about 5.2x in fiscal year 2027, supported by its sales momentum and an incremental expansion in its margin. KeHE will use the net proceeds from these notes to repay $488 million of outstanding borrowings under its asset-based lending (ABL) revolver borrowings, as well as to pay associated fees. S&P views this transaction as leverage neutral and continue to expect KeHE will improve its S&P Global Ratings-adjusted leverage to 5.6x in fiscal year 2026 (ending April 30, 2026) and 5.2x in fiscal year 2027 as it increases its EBITDA. In March, the company also upsized the ABL revolver by $250 million to $1.4 billion and extended its maturity to 2031. KeHE, the second-largest distributor of natural and organic (N&O) products in the U.S., is benefiting from the sustained consumer shift toward fresh, natural, and specialty foods, which is a trend that has materially outpaced the growth of the conventional food category over the last decade. S&P anticipates the company will benefit from this continued expansion and increase its revenue by mid-single digits in fiscal years 2026 and 2027, supported by an improvement in its volumes, inflation, and its differentiated niche product offerings (a key value proposition), as well as its new product launches and key customer relationships, including its recently renewed 10-year contract with Sprouts. S&P said, "We expect KeHE will expand its S&P Global Ratings adjusted EBITDA margin to the high-4.0% area in fiscal year 2026 and about 5.0% in fiscal year 2027 on its improving sales leverage, the AI-driven optimization of its routing and warehouses, and transportation productivity gains and cost controls that more than offset the growth among its larger, lower-margin customers. We forecast the company's capital expenditure will be elevated at approximately $80 million in fiscal year 2026 and $100 million in fiscal year 2027 due to its investments in capacity expansion to accommodate its growth. We expect KeHE will generate annual reported free operating cash flow before employee stock ownership plan (ESOP) repurchase obligations (and excluding the $165 million settlement of deferred purchase obligations under its 2020 long-term incentive plan that was triggered by TowerBrook's exit via KeHE's repurchase of its ownership stake) of $160 million-$180 million in fiscal years 2026 and 2027. In addition, we project the company will face annual ESOP repurchase obligations of $155 million-$170 million in fiscal years 2026 and 2027." Issue Ratings--Recovery Analysis Key analytical factors -- S&P rates KeHE's $1 billion senior secured notes due 2029 and the proposed $500 million senior secured notes due 2033 'B-' with a '5' recovery rating. The '5' recovery rating indicates its expectation for modest recovery (10%-30%; rounded estimate: 25%) in the event of a payment default. -- S&P rates the company's $1.4 billion U.S. ABL facility due 2031 'BB-' with a '1' recovery rating. The '1' recovery rating indicates its expectation for very high recovery (90%-100%; rounded estimate: 95%) in the event of a default. -- All loans under the ABL facility are collateralized by a first-priority lien on the company's inventory and accounts receivable. The senior secured notes carry a second-priority lien on, and security interest in, substantially all the collateral pledged to the ABL and a first-priority lien on substantially all other assets. The senior secured notes are guaranteed by all domestic subsidiaries. -- S&P's simulated default scenario contemplates a payment default occurring in 2029 due to a significant decline in the company's EBITDA generation because of a material loss of market share amid intense industry competition, pricing erosion, higher costs, and execution issues, which all lead to lower sales, margins, and operating earnings. -- S&P also assumes $819 million of borrowings under the ABL revolving credit facility will be outstanding by the time the company defaults, which reflects 60% utilization of the $1.4 billion commitment (less outstanding letters of credit). Simulated default assumptions -- Simulated year of default: 2029 -- EBITDA at emergence: $240 million -- Enterprise value (EV) multiple: 5.5x -- Estimated gross EV at emergence: $1.32 billion Simplified waterfall -- Net EV at default (after 5% administrative costs): $1.26 billion -- Obligor/nonobligor valuation split: 94%/6% -- Net recovery available to U.S. priority claims: $1.19 billion -- U.S. priority claims: $770 million --Recovery expectations: 90%-100% (rounded estimate: 95%) -- Net recovery available to Canadian priority claims: $75 million -- Canadian ABL facility claims: $49 million -- Net recovery available to senior secured notes: $423 million -- Senior notes and other notes claims: $1.56 billion --Recovery expectations: 10%-30% (rounded estimate: 25%) Note: All debt claims include six months of prepetition interest. KIRKBRIDE LAND: Court Extends Cash Collateral Access to May 31 -------------------------------------------------------------- Kirkbride Land and Snow Management, LLC received a two-month extension from the U.S. Bankruptcy Court for the Southern District of Ohio, Eastern Division, to use cash collateral. The court issued an agreed order authorizing the Debtor to use cash collateral from April 1 to May 31 on the same terms and conditions as provided in its prior order entered on September 12 last year. As adequate protection, Kemba Financial Credit Union will receive payments of $10,000 this month and in May. All other terms and conditions of the September 12 order remain in effect and are not altered. Kemba Financial Credit Union is represented by: Gregory Stout, Esq. Plunkett Cooney 220 Mill Street Milford, OH 45150 Phone: 614-629-3000 Fax: 248-901-4040 gstout@plunkettcooney.com About Kirkbride Land and Snow Management Kirkbride Land and Snow Management, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ohio Case No. 25-53599) on August 18, 2025, listing up to $10 million in both assets and liabilities. Angelia Kirkbride, managing member, signed the petition. Judge Mina Nami Khorrami oversees the case. David Whittaker, Esq., at Allen Stovall Neuman & Ashton, LLP, represents the Debtor as legal counsel. KITCHEN AND BATH: Gets Extension to Access Cash Collateral ---------------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of Texas, Sherman Division, entered a second interim order authorizing Kitchen and Bath Design Center, Inc. to continue using cash collateral. Under the second interim order, the Debtor is permitted to use cash collateral in substantial compliance with an approved budget, ensuring funds are used only for ordinary and necessary business operations. This allows the Debtor to maintain ongoing operations while working toward reorganization. As adequate protection, the U.S. Small Business Administration will be granted replacement liens on post-petition cash collateral to the extent of any decline in value caused by its use. These liens maintain the same priority and validity as pre-petition liens and are automatically perfected without additional filings. However, the replacement liens do not extend to Chapter 5 avoidance actions or their proceeds. The liens are also subject to certain carve-outs, including U.S. Trustee fees and approved professional expenses. The Debtor is required to maintain insurance on its assets and limit use of income strictly to normal operating expenses. A final hearing is scheduled for May 12. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/dKWv1 from PacerMonitor.com. About Kitchen and Bath Design Center Inc. Kitchen and Bath Design Center Inc., operating as The Design Center, a Texas-based kitchen and bathroom design retailer. The company specializes in custom kitchen and bathroom design services, cabinetry, fixtures, and related home improvement products. Kitchen and Bath Design Center Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Tex. Case No. 25-42476) on August 26, 2025. In its petition, the Debtor reports estimated assets between $100,000 and $500,000 and estimated liabilities between $500,000 and $1 million. The Debtor is represented by Cantey Hanger, LLP. KROSKOB BROS: Case Summary & 17 Unsecured Creditor -------------------------------------------------- Lead Debtor: Kroskob Bros Farms, LLC 5421 County Road 25 Merino, CO 80741 Business Description: Kroskob Bros Farms, LLC and Kroskob Manufacturing, Inc., based in Merino, Colorado, operate from a shared facility and are engaged in agricultural production, including hay and crop farming, as well as custom farming services such as planting, harvesting, and equipment-based field operations. Through Stack-Rite operations, the business also designs and manufactures hay bale stacking equipment used to support on-farm material handling. The entities operate at a small commercial scale serving local agricultural needs in the region. Chapter 11 Petition Date: April 13, 2026 Court: United States Bankruptcy Court District of Colorado Two affiliates that concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code: Debtor Case No. ------ -------- Kroskob Bros Farms, LLC 26-12459 Kroskob Manufacturing, Inc. 26-12460 d/b/a Stack-Rite Judge: Hon. Thomas B Mcnamara (26-12459) Hon. Joseph G Rosania Jr. (26-12460) Debtors' Bankruptcy Counsel: Jeffrey A. Weinman, Esq. MICHAEL BEST & FRIEDRICH 675 15th Street, Ste. 2000 Denver, CO 80202 E-mail: jeffrey.weinman@michaelbest.com Kroskob Bros' Estimated Assets: $1 million to $10 million Kroskob Bros' Estimated Liabilities: $10 million to $50 million Kroskob Manufacturing's Estimated Assets: $1 million to $10 million Kroskob Manufacturing's Estimated Liabilities: $1 million to $10 million The petitions were signed by Brandon Kroskob as president of Kroskob Bros and secretary of Kroskob Manufacturing. A copy of Kroskob Bros' list of its 17 unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/YJFFFDQ/Kroskob_Bros_Farms_LLC__cobke-26-12459__0002.0.pdf?mcid=tGE4TAMA A copy of Kroskob Manufacturing's list of its three unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/YT4SMVQ/Kroskob_Manufacturing_Inc__cobke-26-12460__0002.0.pdf?mcid=tGE4TAMA Full-text copies of the petitions are available for free on PacerMonitor at: https://www.pacermonitor.com/view/YND4AVY/Kroskob_Bros_Farms_LLC__cobke-26-12459__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/YUZVMQI/Kroskob_Manufacturing_Inc__cobke-26-12460__0001.0.pdf?mcid=tGE4TAMA LAKE COUNTY: Court Extends Cash Collateral Access to April 30 ------------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Illinois extended Lake County Hospitality, LLC's authority to use cash collateral. The court's 11th interim order authorized the Debtor to use cash collateral through April 30 to pay the operating expenses set forth in its budget, subject to a 10% variance. Albany Bank & Trust Company, N.A, a senior secured creditor, holds a lien on the Debtor's assets, including its hotel property located at 900 W. Lake Cook Road in Buffalo Grove, Ill. These assets secure a loan balance of approximately $4.8 million. As protection, Albany was granted replacement liens on all types of collateral in which it held a security interest and lien as of the petition date. This includes, without limitation, cash in the possession of Debtor resulting from its operations and the proceeds thereof. All of Albany's rights as senior secured creditor are otherwise unimpaired by the ninth interim order and are preserved. A copy of the order and the Debtor's budget is available at https://shorturl.at/NUkbN from PacerMonitor.com. The next hearing is set for April 29. Objections are due by April 27. About Lake County Hospitality Lake County Hospitality, LLC operates in the hotel and lodging sector and is associated with properties in Illinois. It manages hospitality assets and has been linked to hotels such as Four Points by Sheraton in Buffalo Grove. Lake County Hospitality sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-08293) on May 30, 2025. In its petition, the Debtor reported between $1 million and $10 million in both assets and liabilities. Judge Timothy A. Barnes handles the case. Paul M. Bach, Esq., at Bach Law Offices is the Debtor's bankruptcy counsel. Albany, as senior secured creditor, is represented by: David A. Golin, Esq. Saul Ewing, LLP 161 North Clark Street, Suite 4200 Chicago, IL 60601 Phone: (312) 876-7100 david.golin@saul.com LAND GO: Seeks Subchapter V Bankruptcy in Missouri -------------------------------------------------- On April 10, 2026, Land Go Properties, L.L.C., filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Western District of Missouri. According to court filings, the Debtor reports between $100,001 and $1,000,000 in debt owed to 1–49 creditors. About Land Go Properties, L.L.C. Land Go Properties, L.L.C. is a real estate company engaged in property ownership, development, and investment activities. Land Go Properties, L.L.C. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-30117) on April 10, 2026. In its petition, the Debtor reports estimated assets of $1 million–$10 million and estimated liabilities of $100,001–$1,000,000. Honorable Bankruptcy Judge Brian T. Fenimore handles the case. The Debtor is represented by Robert Baran, Esq. of Conroy Baran. LANGUAGE KIDS: Unsecureds to Get Share of Income for 36 Months -------------------------------------------------------------- Language Kids Houston, LLC, d/b/a Language Kids Word, filed with the U.S. Bankruptcy Court for the Southern District of Texas a Plan of Reorganization under Subchapter V dated April 7, 2026. The Debtor provides immersive foreign language classes, tutoring, and camps for children at its single location at 1245 Heights Boulevard, Houston, TX 77008, and in schools, churches, and daycare settings. Debtor's operations began on or about the year 2010. The business of the Debtor slowed significantly during the COVID 19 pandemic. The Debtor borrowed funds, including merchant cash advances, to pay necessary operating expenses, and the repayment of the loans created an unmanageable financial condition for the Debtor. The Debtor filed this case to reorganize and continue with its operations. Language Kids valued its assets on the filing date at approximately $19,800, in the aggregate, which included cash of approximately $922.00, office furniture and equipment of approximately $15,000.00 and other assets. The office furniture, equipment, and other assets are subject to liens of the U.S. Small Business Administration, Expansion Capital Group, and ODK Capital LLC (OnDeck). Language Kids has debts of approximately $1,236,000.00. This Plan of Reorganization proposes to pay Debtor's creditors from the cash flow generated in the ordinary course of the Debtor's business after confirmation. Class 5 consists of all other non-priority unsecured claims. The aggregate amount of Class 5 claims is approximately $1,203,511.46. The Debtor will pay the projected disposable income in the amount as set forth on the projections for a period of thirty-six months following the Effective Date to creditors in this class with allowed claims in the amount set forth on the projections with this plan. Debtor may pay these amounts in quarterly distributions. In the case of claims for which pro rata distributions are less than twenty-five dollars per month, the Debtor or the Subchapter V Trustee will hold the payment amounts and send one payment at the end of the plan term. This Class is impaired. Class 6 consists of the equity security holders of the Debtor. The equity security holders will retain the interest in the Debtor. The Debtor will retain the property of the bankruptcy estate. The Debtor will make the payments as set forth in the Projections to either the creditors or to the Subchapter V Trustee. A full-text copy of the Plan of Reorganization dated April 7, 2026 is available at https://urlcurt.com/u?l=UzBeZY from PacerMonitor.com at no charge. Counsel to the Debtor: Reese W. Baker, Esq. Baker & Associates 950 Echo Lane, Suite 300 Houston, TX 77024 Telephone: (713) 869-9200 Facsimile: (713) 869-9100 About Language Kids Houston Language Kids Houston, LLC, a Texas-based limited liability company, filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Texas Case No. 26-30176) on January 7, 2026. In its petition, the Debtor reports assets ranging from $0 to $100,000 and liabilities ranging from $1 million to $10 million. Judge Eduardo V. Rodriguez presides over the case. The Debtor is represented by Reese W. Baker, Esq., at Baker & Associates. LAW OFFICES OF TRAVIS: Seeks to Use Cash Collateral --------------------------------------------------- Law Offices of Travis R. Walker, PA asks the U.S. Bankruptcy Court for the Southern District of Florida, West Palm Beach Division, for authority to use cash collateral and provide adequate protection. The Debtor operates from a leased office in Stuart, Florida, and its assets are subject to multiple secured claims arising from UCC-1 filings. At the time of filing, its primary secured obligations were owed to INB, N.A. (totaling approximately $2.025 million across two obligations) and the Small Business Administration (approximately $535,559), with the SBA subordinated to INB. Additional creditors—primarily merchant cash advance lenders—have filed claims, but the Debtor asserts these do not attach to post-petition assets under applicable case law. Importantly, INB, the primary secured creditor, has consented to the Debtor's use of cash collateral. The Debtor argues that access to cash collateral is essential to maintain operations, meet payroll, and fund necessary business expenses while restructuring. It projects average monthly income of about $240,000 against expenses of roughly $165,000, indicating positive cash flow if operations continue uninterrupted. The proposed budget details revenue streams from billable legal work, flat fees, and contingency settlements, alongside expenses such as salaries, rent, insurance, technology, marketing, and loan repayments. As part of providing adequate protection to secured creditors, the Debtor proposes to make monthly payments of $26,800 to INB (with its consent) and $2,512 to the SBA in accordance with existing loan terms, while also covering U.S. Trustee fees. A copy of the motion is available at https://urlcurt.com/u?l=NQGUzg from PacerMonitor.com. About The Law Offices of Travis R. Walker, P.A. The Law Offices of Travis R. Walker, P.A. based in Stuart, Florida, provides legal services across multiple practice areas including family law, divorce, probate and estate planning, personal injury, real estate, business litigation, and mass torts. The firm also handles bankruptcy, foreclosure defense, guardianship, appeals, and cases involving human trafficking. It serves clients throughout Florida, focusing on comprehensive legal representation for both individual and business matters. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-12448) on February 26, 2026. In the petition signed by Travis R. Walker Esq., managing partner and president, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Erik P. Kimball oversees the case. Travis R. Walker, Esq., at The Law Offices of Travis R. Walker, P.A., represents the Debtor as legal counsel. INB, N.A., as lender, is represented by Harris J. Koroglu, Esq., at Shutts & Bowen,LLP, in Miami, Florida. LAZARUS INDUSTRIES: Unsecureds Will Get 15% over 60 Months ---------------------------------------------------------- Lazarus Industries, LLC filed with the U.S. Bankruptcy Court for the Western District of New York a First Amended Disclosure Statement describing First Amended Plan of Reorganization dated April 7, 2026. The Debtor is a MBE certified construction company located in Buffalo, NY, organized under the laws of the State of New York as a limited liability company. The Debtor is engaged in the business of providing construction and fabrication services in the WNY area. The Debtor's only member is an insider. Frank Lazarus is the Debtor's Managing Member and owns 100% of the Debtor's membership interests. For the years 2023, 2024, and 2025, Mr. Lazarus's compensation in the form of salary from the Debtor was $156,000 per annum. Mr. Lazarus had not received any dividend income from the Debtor. The filing of this case was necessitated by NYS litigation under appeal but still being pursued for collection, NYS litigation seeking damages with counterclaims for unpaid materials and labor, poor cash flow resulting from aging accounts receivable, an audit by the NYS Insurance Fund regarding Worker's Compensation premiums, incorrectly asserting highest rates for every employee for 3 years, an IRS assessment and Federal Tax Liens. The Debtor is confident it will be able to propose and complete a Plan of Reorganization because: 1) The audit with NYS Worker's Insurance Fund continues and to date has been reduced by almost 2/3 of its original claim; 2) The collection actions taken by the IRS have been addressed and a manageable payment plan is part of the proposed Plan of Reorganization; 3) Litigated matters under appeal were decided in favor of the Debtor; 4) Litigated matters have been stayed; 5) The Debtor has rightsized his team of employees and has outsourced his office duties. The Debtor believes that it will be sufficiently profitable to pay the secured and administrative claims in full over a period of five years or less from the approval of the Plan of Reorganization in accordance with the provisions of Section 1129(a)(9)(c) of the Code. Accordingly, the Debtor will pay all allowed Secured Claims in full, will pay the administrative claims and priority claims in full, with interest and will pay quarterly pro-rata disbursements of its net income to the allowed Unsecured Claims. Class 8 consists of Unsecured Non-Priority Claims. Class 7 is impaired. Total Unsecured Class 8 Non-Priority Claims are currently $3,179,917.80. In complete satisfaction, discharge and release of the Class 8 Claims, the Debtor shall distribute to the allowed Class 7 claimants, a pro-rata share of $19,218.00 per quarter of the allowed Class 7 Claims, payable over the first 24 months, without interest, and a pro-rata share of $26,218 per quarter of the allowed Class 7 Claims, payable over months 25-60, in twenty quarterly installments commencing on the first month following the first quarter after the Effective Date of the Plan. Based on current claims, holders of said claims will receive approximately 15% of their claim. The Debtor reserves its right to object to the claims of unsecured creditors. To the extent any claims are disallowed, the surviving claims will receive a greater pro-rata share of the $19,218.00 and/or $26,218.00 quarterly payment. This Class is impaired. Class 8 is unimpaired. On the Effective Date, all legal, equitable and contractual rights and interests of the holder of Class 8 Interests will be reinstated. Payments and distributions under the Plan will be funded by profits from business operation. The Plan Proponent believes that the Debtor will have enough cash on hand on the effective date of the Plan to pay all the claims and expenses that are entitled to be paid on that date. The sources of that cash will be generated from the Debtor's operations. Under the Debtor's current Plan of Reorganization, the following administrative claims that would typically be paid upon confirmation, will be paid over a period not greater than 5 years from the Petition Date or other arrangement made in writing between the Debtor and claimant, to wit: Professional Fees. A full-text copy of the Disclosure Statement dated April 7, 2026 is available at https://urlcurt.com/u?l=5xGa1i from PacerMonitor.com at no charge. Counsel to the Debtor: Frederick J. Gawronski, Esq. Colligan Law LLP 12 Fountain Plaza, Suite 600 Buffalo, NY 14202 Telephone: (716) 885-1150 Facsimile: (716) 885-4662 Email: fgawronski@colliganlaw.com About Lazarus Industries Lazarus Industries, LLC is a construction, fabrication, and manufacturing company based in Buffalo, New York. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D.N.Y. Case No. 25-10417) on April 16, 2025. In the petition signed by Frank Lazarus, managing member, the Debtor disclosed up to $1 million in assets and up to $10 million in liabilities. Judge Carl L. Bucki oversees the case. The Debtor tapped Frederick J. Gawronski, Esq., at Colligan Law, LLP as bankruptcy counsel and Sage Law Firm Group PLLC as special counsel. LIBERTY CARRIERS: Section 341(a) Meeting of Creditors on May 11 --------------------------------------------------------------- On April 8, 2026, Liberty Carriers, Inc. filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of California. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to 1–49 creditors. A meeting of creditors 341(a) to be held on May 11, 2026 at 09:00 AM via UST Teleconference Oakland, Call in number: 1-888-330-1716 Passcode: 8324431. About Liberty Carriers, Inc. Liberty Carriers, Inc. is a transportation and logistics company engaged in freight and delivery services. Liberty Carriers, Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-40730) on April 8, 2026. In its petition, the Debtor reports estimated assets of $100,001–$1,000,000 and estimated liabilities of $1 million–$10 million. Honorable Bankruptcy Judge Charles Novack handles the case. The Debtor is represented by Ryan C. Wood, Esq. of Law Offices of Ryan C. Wood, Inc. LIFEPOINT HEALTH: S&P Rates New $1.5BB Senior Secured Notes 'B' --------------------------------------------------------------- S&P Global Ratings assigned its 'B' issue-level rating to Lifepoint Health Inc.'s proposed $1.5 billion senior secured notes due in 2034. The '3' recovery rating indicates its expectation of meaningful (50%-70%; rounded estimate: 60%) recovery in the event of a default. The proceeds will refinance 11% senior secured notes due 2030 and partially repay the outstanding balance on the company's asset-based loan (ABL) S&P said, "We expect Lifepoint's revenue growth will moderate over the near term. However, we also expect S&P Global Ratings-adjusted EBITDA margins will increase and leverage decrease due to improving operating efficiencies and ongoing expansions in both of Lifepoint's higher-margin business segments. We also forecast cash flow to further improve after reaching positive free cash flow in 2025." Issue Ratings--Recovery Analysis Key analytical factors -- Lifepoint's capital structure comprises a $1 billion ABL facility due 2030, $1.94 billion term loan B facility, and $499 million term loan B facility due 2031, the proposed new $1.5 billion secured notes, $800 million secured notes due 2030, $700 million secured notes due 2032, $500 million unsecured notes due 2029, and $800 million unsecured notes due 2032. -- S&P assumes that at the time of default, the ABL facility is 60% drawn. -- S&P values the company on a going-concern basis using a 6x multiple of our projected emergence EBITDA, which is consistent with the multiples S&P uses for its peers. -- S&P estimates that a default would occur if its EBITDA declines significantly, probably due to reimbursement rate cuts or significant regulatory changes. Simulated default assumptions -- Simulated year of default: 2029 -- EBITDA at emergence: $712 million -- EBITDA multiple: 6x Simplified waterfall -- Net emergence value (after 5% administrative costs): $4.1 billion -- Valuation split (obligors/nonobligors): 100%/0% -- First-lien debt: $613 million -- Collateral value available to senior secured lenders: $3.4 billion -- Senior secured notes: $5.5 billion --Recovery expectations: 50%-70% (rounded estimate: 60%) -- Collateral value available to senior unsecured lenders: $0 -- Senior unsecured debt: $1.4 billion --Recovery expectations: 0%-10% (rounded estimate: 0%) LIMESTONE UNIVERSITY: FNB Wants Aurora Management as Receiver ------------------------------------------------------------- First National Bank of Pennsylvania filed a motion with the U.S. District Court for the District of South Carolina, Spartanburg Division, seeking the appointment of Aurora Management Partners, Inc. as Receiver -- with Laura Kendall serving as Aurora's chief officer -- over all assets of insolvent defendant Limestone University, including certain real and personal property located in Cherokee County, South Carolina, for the purpose of liquidating such assets in an orderly fashion for the benefit of Limestone’s creditors, with any surplus to be held by the Court pending a determination of rights and interests in such surplus. Limestone is a South Carolina non-profit corporation that previously operated as a private liberal arts university in Gaffney, South Carolina. Limestone executed and delivered a Promissory Note dated December 16, 2021, payable to the order of Plaintiff, in the original principal amount of $3,500,000.00, together with interest as provided therein. To secure payment of the indebtedness evidenced by the Note, Limestone executed and delivered to Plaintiff a Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing dated December 16, 2021, covering certain property located in Cherokee County. The Mortgage was recorded in the Office of the Register of Deeds for Cherokee County on December 16, 2021. The Note is further secured by a Uniform Commercial Code financing statements filed with the South Carolina Secretary of State and in Cherokee County. On December 3, 2025, for valuable consideration, Limestone made, executed and delivered to Plaintiff an Amended Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing dated December 3, 2025, covering certain property located in Cherokee County. The Amended Mortgage was recorded in the Office of the Register of Deeds for Cherokee County on December 10, 2025. All real and personal property securing the FNB Loan, referred to as the "Collateral." In conjunction with the FNB Loan, USDA (Limestone's largest secured creditor) made four loans to Limestone in the original aggregate principal amount of $34,500,000.00, evidenced by four Promissory Notes dated December 16, 2021, secured by real and personal property pursuant to a Real Estate Mortgage for South Carolina dated December 16, 2021 and recorded in the Office of the Register of Deeds for Cherokee County, South Carolina on December 16, 2021, as amended by an Amendment to Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing dated December 10, 2025, and recorded in the Cherokee County Office of the Register of Deeds and pursuant to certain UCC financing statements filed with the South Carolina Secretary of State and in Cherokee County. FNB Loan and the USDA Loan are secured by the same assets. Plaintiff and USDA are parties to a Guaranty and Intercreditor Agreement and a Loan Note Guarantee by and between them, both dated December 16, 2021, defining the relationship and lien priority between them. The real and personal property securing the FNB Loan and the USDA Loan are herein collectively referred to as the "Collateral." On April 29, 2025, Limestone's Board of Trustees voted to discontinue both its on-campus courses and online programming and to cease operations and notified its creditors that it would cease operations in light of its insolvency and inability to properly maintain its financial commitments to its two primary creditors, Plaintiff and USDA. The obligations to Plaintiff under the Note are in default for, among other reasons, Limestone's announced discontinuation of operations in light of its insolvency, failure to make loan payments when due, failure to maintain sufficient cash collateral, and transfer of cash from its account with Plaintiff to a third-party bank. With Limestone's decision to cease operations, Plaintiff is concerned about the preservation of the property, both real and personal, that serves as Collateral for its loan, as well as the collateral for the outstanding USDA Loan, including without limitation the maintenance and security of Limestone's facilities, the preservation of cash collateral, and the oversight of earnest money and deposits of potential buyers of Limestone's assets. A general receiver is necessary to manage, protect, maintain, and operate Limestone and its assets, including the Collateral; to secure and safeguard the existing real and personal property,1 any cash on hand, accounts, and records; to the extent possible, ensure payment of all taxes, perform any necessary repairs, maintenance, security, and improvements on the real property; to market the real property for sale or lease; to the extent possible, to sell Limestone's other assets; and to apply any amounts collected to, among other things, the costs and fees incurred by the receiver and to the indebtedness owed to Plaintiff, USDA and other creditors. Limestone is operating in a negative cash flow and position, and does not have sufficient assets to pay the more than $30 million in debt collectively owed to Plaintiff and USDA. Furthermore, there is a significant risk of damage and/or diminution in value to Limestone's assets, including its real property, because the assets need ongoing maintenance, security, and oversight, and Limestone is without the staff or means of providing these ongoing services to maintain and protect its value. Regarding the sale of the assets, although Limestone has engaged in negotiations with potential buyers of certain of its assets, a receiver is better equipped to facilitate these transactions, oversee the orderly sale and liquidation of assets, and ensure that all appropriate creditors are notified and paid in accordance with their respective rights and priorities. USDA and Limestone consent to the appointment of a receiver. Plaintiff requests that Aurora, as Receiver, be given complete authority to manage Limestone's affairs; to take all actions necessary to preserve the Collateral and all of Limestone's other assets, including but not limited to all real property, equipment, machinery, furnishings, cash on hand, accounts, intellectual property, and other tangible and intangible assets; to arrange for and effectuate the sale of Limestone's assets; and to otherwise take such actions as may be appropriate to maximize value for Plaintiff and other creditors. The Order appointing the Receiver should also provide, as stated in the proposed Order that upon the entry of such Order, Limestone and its subsidiaries and affiliates, their trustees, directors, officers, employees, agents, assigns, servants, accountants, attorneys and other representatives, and any persons or entities under Limestone’s direction or control (and their respective trustees, directors, officers, employees, agents, assigns and other representatives) are directed to (a) cooperate fully and completely with the Receiver in the Receiver's performance of its duties; (b) provide immediate access, and means of access, to all of Limestone’s assets and books and records, and, in furtherance of providing such access, make available to the Receiver all keys, pass codes, books, records, computer hardware and software owned or licensed to Limestone (including all computer programs, databases, disks, and other media owned by Limestone or upon which information regarding any of Limestone's assets and operations are stored, recorded or located), mail and correspondence addressed to or which may contain information regarding the businesses, affairs, assets and operations of Limestone, provided that, to the extent the Receiver seeks access to such mail and correspondence owned by parties other than Limestone, the obligation of such parties to produce shall be subject to any applicable privileges; (c) abide by the Receiver's requests for information and documentation so that the Receiver may perform its functions with full information and knowledge; and (d) not interfere with or hinder in any way the actions and performance of the Receiver in its duties under the Order. Plaintiff and USDA decline to provide funds to pay for the insurance coverage, and Limestone lacks the funds to acquire and maintain such insurance coverage. Upon its appointment, the Receiver likewise will lack funds with which to acquire and maintain liability and/or casualty insurance coverage. Given this situation, the Order appointing the Receiver should provide that the Receiver is not directed to acquire general liability or property casualty insurance coverage, and that the Receiver shall not be deemed remiss, negligent, or in any way responsible for the absence of insurance coverage. The proposed Order also includes an injunction with respect to claims against Limestone and its assets, requiring that claimants first obtain this Court's authorization before proceeding with actions against Limestone, its assets, or the Receiver in other courts or forums. The provisions of the proposed Order are incorporated herein by reference. Neither the proposed Receiver nor any insider of the Receiver has ever been disqualified from serving as a receiver, convicted of a felony or other crime involving moral turpitude, or been found liable in a civil court for fraud, breach of fiduciary duty, civil theft, or similar misconduct. The proposed Receiver has no materially adverse interest with respect to any party or the Collateral, and has no material financial or pecuniary interest, other than compensation for receivership services, in the outcome of the receivership. The proposed Receiver is not a debtor, creditor, or lienor of, or a holder of any equity interest in, Limestone, nor does the proposed Receiver hold an interest in any of Limestone’s assets which will become receivership property. The Receiver will cause the Order of Aurora's appointment as Receiver in this action and any subsequent order amending, expanding, or limiting the appointment of powers of the Receiver, to be filed in each judicial district where receivership property is located pursuant to applicable law. About Limestone University Limestone University is a South Carolina non-profit corporation that previously operated as a private liberal arts university in Gaffney, South Carolina. Limestone is facing a receivership case captioned as First National Bank of Pennsylvania v. Limestone University and the United States Department of Agriculture, Case No. 7:26-cv-01274 (D.S.C.), before the Hon. Donald C. Coggins, Jr. The case was filed on March 24, 2026. Attorneys for First National Bank of Pennsylvania are: Robert C. Byrd, Esq. Anna-Bryce Hobson, Esq. PARKER POE ADAMS & BERNSTEIN LLP 850 Morrison Drive, Suite 400 Charleston, SC 29403 Tel: (843) 727-2650 Fax: (843) 727-2680 E-mail: bobbybyrd@parkerpoe.com abhobson@parkerpoe.com LINDSLEY EXCAVATING: Seeks Cash Collateral Access ------------------------------------------------- Lindsley Excavating, LLC asks the U.S. Bankruptcy Court for the Northern District of New York for authority to use cash collateral and provide adequate protection. The Debtor outlines that the business, founded in 2015 and later inherited by Shawn Lindsley after the original owner's death, entered bankruptcy burdened by $2.5–$3 million in debt and a series of setbacks, including reduced construction activity during COVID-19,00 poor financial decisions tied to inaccurate project estimates, underutilized equipment purchases, and difficulty securing profitable work. Severe winter weather in 2025–2026 further delayed projects and revenue, worsening its financial condition and prompting the Chapter 11 filing to stabilize operations and restructure obligations. The Debtor explains that multiple creditors—at least nine with filed UCC liens—may have claims over the company’s cash collateral, including accounts receivable and deposits. While the Debtor does not concede the validity of these liens, it seeks court approval to use such funds to maintain operations, including paying employees, vendors, and ongoing expenses. The Debtor proposes granting creditors a rollover lien to preserve their prepetition security interests and intends to follow a court-approved budget for spe nding. It emphasizes that without access to cash collateral, it would be forced to shut down immediately, harming both the business and creditors by reducing the value of the company as a going concern. A copy of the motion is available at https://urlcurt.com/u?l=hPu17Y from PacerMonitor.com. About Lindsley Excavating, LLC Lindsley Excavating, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. N.Y. Case No. 26-30263-5-pgr) on April 3, 2026. In the petition signed by Shawn Lindsley, president, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Patrick G. Radel oversees the case. Peter A. Orville, Esq., at Orville & McDonald Law, P.C., represents the Debtor as legal counsel. LISA PARK: Seeks Cash Collateral Access --------------------------------------- Lisa Park OD, PLLC asks the U.S. Bankruptcy Court for the Eastern District of Texas, Sherman Division, for authority to use cash collateral and provide adequate protection. The Debtor, an optometry practice operating as Focal Point Eyecare in Carrollton, Texas, explains that financial distress arose after a 2022 expansion into specialized services such as myopia management, dry eye treatment, and aesthetics. This expansion required significant financing for expensive equipment, but anticipated revenue did not materialize, leaving the business burdened with unsustainable loan payments and cash flow problems. As a result, the Debtor filed for bankruptcy on April 3 to restructure debts, reorganize operations, and potentially return unnecessary equipment while continuing to operate as a debtor-in-possession. The Debtor's available cash and receivables constitute cash collateral subject to liens held primarily by Bank of America, N.A. (as the senior secured creditor with a blanket lien securing a $260,000 loan) and, to a lesser extent, Newtek Bank, N.A., whose claim is believed to be unsecured due to insufficient collateral value. Because the Debtor cannot use this cash collateral without either creditor consent or court approval, it requests immediate authorization, arguing that failure to do so would halt operations, prevent payment of payroll and essential expenses, and cause irreparable harm to the business and its estate. Continued access to funds is critical not only for day-to-day operations but also for maintaining confidence among employees, vendors, and customers and preserving the business as a going concern. To address creditor concerns, the Debtor proposes providing adequate protection against any decline in the value of the secured creditors' collateral. This includes granting superpriority administrative claims that rank above most other post-petition claims (subject to limited carve-outs for professional and trustee fees) and granting replacement liens on current and future assets of the estate. A copy of the motion is available at https://urlcurt.com/u?l=BDmXmm from PacerMonitor.com. About Lisa Park OD, PLLC Lisa Park OD, PLLC is an optometry practice operating as Focal Point Eyecare in Carrollton, Texas. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Tex. Case No. 26-41152) on April 3, 2026. In the petition signed by Lisa Park, managing member, the Debtor disclosed up to $500,000 in assets and up to $1 million in liabilities. Judge Brenda T. Rhoades oversees the case. Melissa S. Hayward, Esq., at Hayward PLLC, represents the Debtor as legal counsel. LOW COST: Unsecureds Will Get 5% of Claims over 5 Years ------------------------------------------------------- Low Cost Tree Service & Systems, LLC, filed with the U.S. Bankruptcy Court for the Eastern District of Pennsylvania a Plan of Reorganization under Subchapter V dated April 7, 2026. The Debtor is an LLC which commenced operations on April 8, 2019. Debtor is in the business of clearing and removing tree and other debris. The Debtor experienced financial problems due to the seasonal nature of the business and its status as a co-signer on a Note with Love's Crane Service, LLC owed to Mid Penn Bank, which Note is secured by a crane that, for a period of time, was not operational. The value of the property to be distributed under the Plan is not less than Debtor's projected disposable income for that same period. The monthly projected disposable income determined by the projected financial information is $20,335.93. The Plan proposes to pay creditors of Debtor from net income and shall submit such income necessary for the performance of the Plan over a five-year period. Non-priority unsecured creditors holding allowed claims will receive distributions which are not less than such holder would receive if Debtor were liquidated under Chapter 7 of the Code and is valued at approximately five cents on the dollar. This Plan also provides for the payment of administrative and priority claims in accordance with the Code. Class 3 consists of Non-priority unsecured claims. All non-priority unsecured claims allowed under Section 502 of the Code will be paid at the rate of 1% per annum over a period of five years for a total of 5%. This Class is impaired. Class 4 consists of Equity Security holder of Debtor, Danny A. Love. Equity security holders shall retain their interests in Debtor and continue to serve after confirmation of the Plan as directors, officers, or voting trustees of Debtor. Their compensation shall remain the same, with the exception of cost-of-living adjustments, until such time as Debtor's Plan is paid in full. The Debtor intends to continue doing business and utilize such business income as is necessary to conduct business and make Plan payments as provided herein. A full-text copy of the Plan of Reorganization dated April 7, 2026 is available at https://urlcurt.com/u?l=xZUWoC from PacerMonitor.com at no charge. Counsel to the Debtor: CGA Law Firm James K. Jones, Esq. 135 N. George St. York, PA 17401 717-848-4900 Email: jjones@cgalaw.com About Low Cost Tree Service & Systems Low Cost Tree Service & Systems, LLC is in the business of clearing and removing tree and other debris. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Pa. Case No. 25-15263) on December 30, 2025, with $500,001 to $1 million in assets and liabilities. Judge Patricia M. Mayer presides over the case. James K. Jones, Esq., at Cga Law Firm represents the Debtor as bankruptcy counsel. LUMEN TECHNOLOGIES: S&P Rates New Revolving Credit Facility 'B+' ---------------------------------------------------------------- S&P Global Ratings assigned its 'B+' issue-level rating and '1' recovery rating to Lumen Technologies Inc.'s proposed $825 million first-lien senior secured revolving credit facility due 2029. The '1' recovery rating indicates S&P's expectation for very high (90%-100%; rounded estimate: 95%) recovery in the event of a payment default. The revolving credit facility will replace the company's existing $950 million super-priority revolver due 2028, which was split into two tranches. While the revolver is smaller, the new $13 billion of hyperscaler contracts reduces the need for a larger facility. S&P also believes the company could look to refinance or add a new revolver over time under the Level 3 entity. S&P said, "All of our existing ratings on Lumen, including the 'B-' issuer credit rating, are unchanged. This is because we do not expect the transaction to affect its credit metrics. In addition, we continue to forecast S&P Global Ratings-adjusted leverage in the mid-6x area in 2026 due to one-time expenses before improving to the high-4x area in 2027. This includes the $5.75 billion sale of its fiber-to-the-home broadband business to AT&T Inc." LURIN REAL ESTATE: Affiliate Gets Interim OK to Use Cash Collateral ------------------------------------------------------------------- Lurin Real Estate Holdings LXV, LLC, an affiliated debtor of Lurin Real Estate Holdings XXI, LLC, received interim approval from the U.S. Bankruptcy Court for the Southern District of Texas to use cash collateral to fund its operations. Under the interim order, the Debtor is authorized to use cash collateral through May 2 for working capital and general corporate purposes in accordance with an approved budget. The Debtor is not allowed to spend more than 110% of any budget line item using cash collateral. The Debtor's cash collateral consists of assets in which PFP VIII Sub III (CLO), LLC, the pre-bankruptcy lender, has valid, perfected security interests, liens, or mortgages as of the petition date. As protection, PFP will receive replacement liens on pre-bankruptcy collateral to the extent its value declines from the Debtor's use of cash collateral. Lurin owes PFP under a $47.01 million loan secured by a lien on its multi-family apartment complex in Rogers, Arkansas. The Debtor believes the property value exceeds the loan balance, providing an equity cushion that protects the lender. The order is available at https://is.gd/bwUFpL from PacerMonitor.com. The final hearing is set for April 30. The deadline for filing objections is on April 23. About Lurin Real Estate Holdings XXI LLC Lurin Real Estate Holdings XXI, LLC is a real estate investment and development company focused on commercial and residential property holdings across multiple U.S. markets. Lurin Real Estate Holdings XXI LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-90344) on March 2, 2026. In its petition, the Debtor reports estimated assets and estimated liabilities each in the range of $50 million to $100 million. Honorable Bankruptcy Judge Alfredo R. Perez handles the case. The Debtor is represented by Joshua W. Wolfshohl, Esq., at Porter Hedges, LLP. LURIN REAL ESTATE: Gets Final OK to Use Cash Collateral ------------------------------------------------------- Lurin Real Estate Holdings XXI, LLC on April 15 received final approval from the U.S. Bankruptcy Court for the Southern District of Texas to use the cash collateral of the Federal National Mortgage Association (Fannie Mae). Under the final order, the Debtor is authorized to use cash collateral to pay administrative and operating expenses for its Houston property in accordance with its budget, subject to a 10% variance. These expenses do not include capital improvements and extraordinary maintenance. Fannie Mae's cash collateral consists of rents from the real property and all other income the Debtor generates. It holds a first-position lien on the real property and other assets of the Debtor including personal property and cash collateral. As of the petition date, the Debtor owed Fannie Mae at least $77.22 million, plus default interest, legal fees, and other charges under their loan agreement. As protection for any diminution in the value of its collateral, Fannie Mae will receive a replacement lien on any real or personal property of the Debtor's estate including rents, which the Debtor acquired after the petition date. In case the replacement liens prove to be insufficient, Fannie Mae will receive a superpriority administrative expense claim, subject to the fee carveout but have priority over all other administrative expense claims. As a condition of using Fannie Mae's cash collateral, the Debtor must make monthly non-default interest payments within 90 days of the petition date and secure a final, non-appealable sale order for the Houston property within 150 days, with all amounts owed paid within seven days of that order. Events of default under the final order include unauthorized use of cash collateral, failure to provide insurance by May 6, missed payments, exceeding permitted variance, failing to report financially, not maintaining insurance or paying taxes, and missing the milestone. The final order is available at https://is.gd/VWtE9X from PacerMonitor.com. About Lurin Real Estate Holdings XXI LLC Lurin Real Estate Holdings XXI, LLC is a real estate investment and development company focused on commercial and residential property holdings across multiple U.S. markets. Lurin Real Estate Holdings XXI LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-90344) on March 2, 2026. In its petition, the Debtor reports estimated assets and estimated liabilities each in the range of $50 million to $100 million. Honorable Bankruptcy Judge Alfredo R. Perez handles the case. The Debtor is represented by Joshua W. Wolfshohl, Esq., at Porter Hedges, LLP. MACROFIT INC: Case Summary & 11 Unsecured Creditors --------------------------------------------------- Debtor: Macrofit, Inc. 1645 San Ysidro Drive Beverly Hills, CA 90210 Business Description: Macrofit, Inc., based in Beverly Hills, California, operates a fitness business that combines a digital training platform with in-person and equipment-based fitness offerings. The company provides a mobile fitness application featuring structured workout programs, tracking tools, and coaching features, alongside a branded home-gym system and related training ecosystem. It also presents Reformer Pilates studio services through affiliated fitness studio operations, offering group and private classes focused on strength, flexibility, and mobility training. Its services are generally targeted at individual consumers seeking integrated at-home and studio fitness solutions. Chapter 11 Petition Date: April 11, 2026 Court: United States Bankruptcy Court Central District of California Case No.: 26-13505 Judge: Hon. Barry Russell Debtor's Counsel: Thomas B. Ure, Esq. URE LAW FIRM 8280 Florence Avenue, Suite 200 Downey, CA 90240 Tel: 213-202-6070 Fax: 213-202-6075 E-mail: tom@urelawfirm.com Estimated Assets: $100,000 to $500,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Michael DeVerna a CEO. A full-text copy of the petition, which includes a list of the Debtor's 11 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/WUNMHUI/Macrofit_Inc__cacbke-26-13505__0001.0.pdf?mcid=tGE4TAMA MALCOLM PATRICK: Case Summary & Seven Unsecured Creditors --------------------------------------------------------- Debtor: Malcolm Patrick Corporation 55 Webster Avenue, Suite 407 New Rochelle, NY 10801 Business Description: Malcolm Patrick Corporation, based in New Rochelle, New York, operates as a construction contractor providing site development and specialty construction services including excavation, demolition, concrete work, fencing and railing installation, scaffolding, and metal fabrication for commercial and institutional projects across the New York metropolitan area. Founded in 2004, the company operates as a privately held entity and holds Minority Business Enterprise (MBE) and Disadvantaged Business Enterprise (DBE) certifications, with a client base that includes government agencies, general contractors, and private-sector developers. Chapter 11 Petition Date: April 13, 2026 Court: United States Bankruptcy Court Southern District of New York Case No.: 26-22371 Judge: Hon. Sean H Lane Debtor's Counsel: Robert J Spence, Esq. SPENCE LAW OFFICE, P.C. 55 Lumber Road Roslyn, NY 11576 Tel: (516) 972-7981 E-mail: rspence@spencelawpc.com Total Assets: $162,500 Total Liabilities: $1,381,302 The petition was signed by Deighton C. Taylor as president. A full-text copy of the petition, which includes a list of the Debtor's seven unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/XTI6G2Q/Malcolm_Patrick_Corporation__nysbke-26-22371__0001.0.pdf?mcid=tGE4TAMA MARE ISLAND: Seeks Cash Collateral Access ----------------------------------------- Mare Island Dry Dock, LLC asks the U.S. Bankruptcy Court for the Eastern District of California, Sacramento Division, for authority to use cash collateral, approve a post-petition retainer for its accountants, and grant adequate protection to secured parties. The Debtor identifies two entities asserting interests in cash collateral: Continental Republic Capital, LLC dba Republic Business Credit, which holds the senior lien, and Mare Island Dry Dock Investment LLC, the Debtor's sole member and provider of DIP financing, whose liens are junior to Republic's. The Debtor requests authority to continue using cash collateral in accordance with an updated budget through July 24, while noting that a substantial asset sale is expected to close in early June. The Debtor emphasizes that the Budget allows a variance of 15% per month and that unused portions may roll over to subsequent months, ensuring flexibility in managing operations. The Debtor also seeks approval to fund a $30,000 post-petition retainer for Bean Hunt Harris & Company, its proposed accountants, arguing that paying a retainer is a prudent exercise of business judgment necessary for tax compliance and protection of the estate, and that the retainer will not be applied without court approval. Adequate protection for Republic is maintained under the previously entered Cash Collateral Orders, including replacement liens and superpriority claims, while MIDDI's interests are protected under the DIP financing orders. The Debtor also requests a waiver of the fourteen-day stay under Rule 6004(h) to avoid operational disruption since prior cash collateral authority expires April 30. A hearing on the matter is set for April 21, at 11 a.m. A copy of the motion is available at https://urlcurt.com/u?l=xlT7fL from PacerMonitor.com. About Mare Island Dry Dock LLC Mare Island Dry Dock, LLC operates as a maritime services company providing ship repair, maintenance, and dry dock services. The company supports commercial and industrial marine vessels through repair, refurbishment, and related waterfront operations. Mare Island Dry Dock, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-20777) on February 14, 2026. In its petition, the Debtor disclosed up to $50 million in both assets and liabilities. The Honorable Bankruptcy Judge Christopher D. Jaime handles the case. Julie H. Rome-Banks, Esq., at Binder Malter Harris & Rome-Banks LLP serves as the Debtor's counsel. MARTIN DISPOSAL: Gets Interim OK to Use Cash Collateral ------------------------------------------------------- The U.S. Bankruptcy Court for the Western District of Kentucky issued an interim order allowing Martin Disposal, LLC to use cash collateral. Under the interim order, the Debtor is authorized to use its cash collateral to fund operations pending the final hearing scheduled for April 23. The Debtor pledged its accounts and receivables to secure debts to Commercial Credit Group ($514,000), Quik Capital ($337,250), and Fundfi Merchants Funding ($141,483.63), giving them an interest in the cash collateral. As adequate protection, secured creditors will be granted continuing replacement liens on the Debtor's accounts. These liens maintain the same priority and extent as the pre-petition liens on the cash collateral, protecting secured creditors from any decline in the value of their collateral. The interim order also provides that even if any of the provisions is later stayed, modified, or not finalized, any obligations incurred and liens granted under the order will remain valid and enforceable. The order is available at https://is.gd/dlbpcP from PacerMonitor.com. About Martin Disposal LLC Martin Disposal, LLC is a Kentucky limited liability company that owns and operates a garbage disposal company in Allen County, Kentucky. Martin Disposal sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Ken. Case No. 26-10250) on March 23, 2026, with $500,001 to $1 million in assets and $1 million to $10 million in liabilities. The petition was signed by Derrick Martin as owner. Judge Hon. Joan A Lloyd oversees the case. The Debtor is represented by: Robert C. Chaudoin, Esq. Harlin Parker, Attorneys at Law 519 E. 10th Avenue P.O. Box 390 Bowling Green, KY 42102 Tel: 270-842-5611 Email: chaudoin@harlinparker.com MIRROR LAKE: Gets Interim OK to Use Cash Collateral --------------------------------------------------- Mirror Lake Village, LLC received agreed interim approval from the U.S. Bankruptcy Court for the Western District of Washington, Seattle, to use cash collateral to fund operations. The order approves a stipulation between the Debtor and its secured lenders, allowing modification of the interim cash collateral budget, interim DIP financing, and scheduling of a final hearing. The court authorized the Debtor to use cash collateral under a revised interim budget, which replaces the prior budget approved in March. The secured lenders consented to this updated budget, and all other terms of the prior interim cash collateral order remain in effect. The order also grants interim approval of DIP financing, allowing the Debtor to borrow up to $750,000 under a DIP loan agreement with Jinghu LLC. The DIP lender is granted a subordinate lien on certain real properties and a superpriority administrative claim for any unsecured portion, with protections afforded under Section 364(e) due to good faith negotiations. Termination events include the dismissal or conversion of the Debtor's Chapter 11 case; appointment or election of a trustee, examiner or any other similar person with expanded powers beyond investigatory alone; entry of an order staying, modifying or reversing the interim order; failure to comply with the interim order; or entry of an order granting a third party relief from the automatic stay to proceed against any pre-bankruptcy collateral, including cash collateral. A final hearing on both the DIP financing and cash collateral matters is scheduled for May 7. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/r2TAr from PacerMonitor.com. Forbright Bank is represented by: Gregory R. Fox, Esq. Alena Ivanov, Esq. Ballard Spahr LLP 1301 Second Avenue, Suite 2800 Seattle, WA 98101 Telephone: (206) 223-7952 / (206) 223-7129 foxg@ballardspahr.com ivanova@ballardspahr.com Northwest Bank is represented by: Tara J. Schleicher, Esq. Foster Garvey PC 121 SW Morrison Street, Suite 1100 Portland, OR 97204 Telephone No. (503) 228-3939 Facsimile No. (503) 226-0259 tara.schleicher@foster.com About Mirror Lake Village LLC Mirror Lake Village, LLC runs a senior living facility in Federal Way, Washington, offering independent living, assisted living, and memory care services, along with nearby vacant land. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wash. Case No. 26-10599-CMA) on February 27, 2026. In the petition signed by Philip Kaestle, designated officer, the Debor disclosed up to $50 million in both assets and liabilities. Judge Christopher M. Alston oversees the case. Amit D. Ranade, Esq., at Snell & Wilmer, represents the Debtor as legal counsel. MUNAWAR LAW: Chapter 11 Trustee Appointment Sought -------------------------------------------------- William Harrington, the U.S. Trustee for Region 2, asked the U.S. Bankruptcy Court for the Southern District of New York to appoint a trustee to take over the Chapter 11 case of Munawar Law Group, PLLC. In a court filing, the U.S. trustee raised the need to appoint an independent trustee to manage the case, citing the examiner's findings of gross mismanagement of the estate and the possible fraud by Adnan Munawar, the Debtor's principal and a licensed New York attorney. The U.S. trustee said that Mr. Munawar's actions necessitating this relief are his (i) improper use of estate assets, such as EIDL proceeds and IOLA funds, (ii) filing of false tax returns, (iii) fraudulent or preferential transfers of over $6 million, and (iv) filing of perjurious bankruptcy schedules. Further, the appointment of a reliable and independent fiduciary to manage and operate the Debtor is in the best interests of the estate creditors, who may benefit from the recovery of millions that Mr. Munawar wrongfully transferred for his and his family's benefit, according to the U.S. trustee. Mr. Harrington argued that the facts presented in this case are not commonplace; that is, it is not usual for an independent, court-appointed examiner to find so many instances of dishonesty, gross mismanagement and possible fraud, as that term is defined under New York law. This is a case where cause to appoint a Chapter 11 trustee is plainly satisfies section 1104(a)(1), the U.S. trustee said. The U.S. trustee further said the appointment of an independent fiduciary who possibly may recover up to $6 million in unlawful transfers would benefit the creditors of the estate, which presumably includes clients whose funds were transferred by Mr. Munawar out of his IOLA account and not to them or for their benefit. About Munawar Law Group PLLC Munawar Law Group PLLC is operating as a legal services firm with offices in New York City and Jericho, New York. Munawar Law Group PLLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-10020) on January 7, 2025. In its petition, the Debtor reports estimated assets between $100,000 and $500,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge David S. Jones handles the case. The Debtor tapped Ronald D. Weiss, Esq., as counsel and MI Tax LLC as accountants. NAUTICAL IMPORTS: Court Extends Cash Collateral Access to April 30 ------------------------------------------------------------------ The U.S. Bankruptcy Court for the Southern District of Florida entered a third preliminary (interim) order allowing Nautical Imports, LLC to use cash collateral through April 30. Under the order, the Debtor is permitted to use cash collateral in accordance with an approved budget, with up to a 10% variance per line item. Payments to professionals and certain other items still require separate court approval. As adequate protection, secured creditors Synovus Bank and the U.S. Small Business Administration will be granted replacement liens on post-petition cash collateral, maintaining the same priority and validity as their pre-petition liens. Additionally, the Debtor must escrow $1,000 per month with the Subchapter V trustee. Nautical Imports is also required to maintain insurance and comply with all obligations as a debtor-in-possession. The order preserves the rights of all parties, including the ability to seek modifications or challenge liens. A final hearing is scheduled for April 23. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/8HnWz from PacerMonitor.com. About Nautical Imports LLC Nautical Imports, LLC is a Florida-based company that imports seashells, sea-life products, and coastal-themed home decor and distributes them through multiple channels. It sells individual items through its e-commerce websites, The Seashell Company, HS Seashells and Coastal Decor Store, offering craft shells and coastal home furnishings. Nautical Imports filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 25-24369) on December 4, 2025, listing between $1 million and $10 million in assets and liabilities. Judge Scott M. Grossman presides over the case. Jeffrey Ainsworth, Esq., at Bransonlaw, PLLC represents the Debtor as bankruptcy counsel. NAVELLIER & ASSOCIATES: Seeks to Extend Plan Exclusivity to June 5 ------------------------------------------------------------------ Navellier & Associates Inc. asked the U.S. Bankruptcy Court for the District of Nevada to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to June 5 and Aug. 3, 2026, respectively. The Debtor explains that it is seeking a second short extension of the Exclusive Periods because the extensions will help move the case toward a fair and equitable resolution of Debtor's reorganization, and there is ample "cause." As mentioned, the terms of any plan proposed by the Debtor are affected by whether or not the Debtor is able to resolve some or all of its disputes with the SEC. Moreover, the hearing on the Motion to Dismiss is scheduled for May 6, 2026. The Debtor believes it is prudent and beneficial to wait for the outcome of the Motion to Dismiss before Debtor incurs legal fees in preparing and filing a plan and disclosure statement. The Debtor claims that the extensions sought by the company are neither indefinite nor being used to force any creditor to accept an undesirable plan. The extension is sought primarily to conserve legal resources and attempt to first resolve disputes with the Debtor's largest creditor, the SEC. Given the foregoing, an extension of the Exclusive Periods makes legal and practical sense. The Debtor asserts that its creditors will not be prejudiced by extensions of the Exclusive Periods and the SEC has already agreed not to oppose the request. The Debtor has shown that ample cause exists under the standards described by the Ninth Circuit B.A.P., thus supporting the requested extensions. Finally, unless the Court orders otherwise, Debtor will provide notice of this Motion only to the United States Trustee, the twenty highest unsecured creditors including the SEC, any creditors who have filed claims or notices of appearance, and any parties who automatically receive electronic notice via ECF. Debtor believes such notice is appropriate and sufficient under the Bankruptcy Code and rules. Counsel to the Debtor: Stephen R. Harris, Esq. Harris Law Practice LLC 850 E. Patriot Blvd., Suite F Reno, NE 89511 Tel: (775) 786-7600 Fax: (775) 786-7764 Cell: (775) 690-9120 Email: steve@harrislawreno.com Sallie B. Armstrong, Esq. Jimmy F. Dahu, Esq. McDONALD CARANO LLP 100 West Liberty Street, Tenth Floor Reno, NV 89501 Telephone: (775) 788-2000 Email: sarmstrong@mcdonaldcarano.com Email: jdahu@mcdonaldcarano.com About Navellier & Associates Inc. Navellier & Associates Inc., based in Reno, Nevada, provides investment advisory services focused on growth investing strategies, offering portfolio management and financial planning to individual and institutional clients. The firm was founded by Louis G. Navellier and manages discretionary assets while employing a quantitative and fundamental approach to stock selection. Navellier & Associates Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Nev.Case No. 25-50820) on Sept. 5, 2025. In its petition, the Debtor estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Hilary L. Barnes handles the case. The Debtor is represented by Norma Guariglia, Esq. at HARRIS LAW PRACTICE LLC. NELLIS CAB: Seeks to Extend Plan Exclusivity to August 4 -------------------------------------------------------- Nellis Cab, LLC and Sun Cab, Inc. asked the U.S. Bankruptcy Court for the District of Nevada to extend their exclusivity periods to file a plan of reorganization and obtain acceptance thereof to Aug. 4 and Oct. 5, 2026, respectively. This is Debtors' first request for an extension of the Exclusive Periods under Section 1121(d)(1). The Debtors' Chapter 11 Cases were filed on an emergency basis shortly after they were set to sell all their assets. The Debtors, therefore, did not have the benefit of pre-bankruptcy planning for a Chapter 11 filing. The Debtors explain that the moment the Chapter 11 Cases were filed, their professionals and management had to work as diligently, efficiently, and expeditiously as possible to address both operational aspects of Debtors' businesses and Chapter 11 Case administration matters at the same time. Having to attend to matters of such global significance in the context of already contentious cases as the Chapter 11 Cases only added to their complexity and the already pressing demands placed upon Debtors, their management team, and professionals. Similarly, all the litigation efforts surrounding the settlement of the Trustee Motions only served to draw the collective attention of Debtors' management and professionals to focus on defending the Trustee Motions during the initial Exclusive Periods. The Debtors claim that as the Court may have already assessed by this point, their emergency filings, as well as the need to address pressing operational and administrative issues at the outset of the Chapter 11 Cases, have not provided Debtors with much of a breathing spell within which Debtors could engage in meaningful and well-informed negotiations with its key creditor constituencies, as well as other parties in interest, in connection with its efforts to formulate and propose a Chapter 11 plan of reorganization. The Debtors assert that they are not seeking the relief requested here to unduly pressure their creditors into acquiescing unduly in Debtors' reorganization demands. That is hardly the case. Debtors' request here is aimed at allowing Debtors sufficient time to formulate what Debtors believe to be a viable Chapter 11 plan of reorganization that seeks to maximize the value of Debtors' bankruptcy estates for the benefit of Debtors' creditors and other parties in interest. The Debtors further assert that they are proceeding in good faith. Debtors' filing of their initial Plan on February 26, 2026 already demonstrates that Debtors have a realistic prospect of formulating a viable Chapter 11 plan of reorganization. Debtors' filing of the Plan and resolution of the Trustee Motions plainly demonstrates Debtors' progress in negotiations with key constituencies in Debtors' Chapter 11 Cases. Moreover, although no official statutory committee of creditors has been appointed in Debtors' Chapter 11 Cases, Debtors respectfully submit that their resolution of the Trustee Motions through a settlement providing for the appointment of an examiner demonstrates Debtors' efforts and overall willingness to make information accessible to parties in interest and stakeholders in the Chapter 11 Cases. Counsel to the Debtors: Samuel A. Schwartz, Esq. Athanasios E. Agelakopoulos, Esq. Schwartz, PLLC 601 East Bridger Avenue Las Vegas, NV 89101 About Nellis Cab LLC Nellis Cab LLC provides taxi transportation services in Las Vegas, Nevada, and has been operating in the region for more than 60 years. Nellis Cab LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Nev. Case No. 25-17375) on Dec. 5, 2025, listing $1 million to $10 million in assets and $100,000 to $500,000 in liabilities. The petition was signed by Michelle Langille as manager. Judge August B Landis presides over the case. Samuel A. Schwartz, at SCHWARTZ LAW, PLLC, is the Debtor's counsel. NEUROONE MEDICAL: Stockholders OK Five Proposals at Annual Meeting ------------------------------------------------------------------ NeuroOne Medical Technologies Corporation disclosed the results of its annual meeting of stockholders. At the annual meeting, stockholders: (i) elected two Class III directors to the Company's Board of Directors, each to serve a three-year term until the 2029 annual meeting of stockholders, (ii) ratified the appointment of Baker Tilly US, LLP as the Company's independent registered public accounting firm for the fiscal year ending September 30, 2026, (iii) approved an amendment to the Company's Certificate of Incorporation to effect a reverse stock split of the Company's outstanding common stock at a ratio in the range of 1-for-2 to 1-for-15 to be determined by the Company's Board of Directors, (iv) approved an amendment to the NeuroOne Medical Technologies Corporation 2025 Equity Incentive Plan, and (v) authorized one or more adjournments of the Annual Meeting to solicit additional proxies in the event there are insufficient votes to approve Proposal 3. Proposals are described in detail in the Company's definitive proxy statement filed with the Securities and Exchange Commission on March 9, 2026. A total of 30,272,834 shares of the Company's common stock were present at the meeting in person or by proxy, which represents approximately 59.72% of the shares of common stock outstanding as of the record date for the Annual Meeting. The results of the voting are: Proposal 1: Election of Directors 1. Jeffrey Mathiesen * Votes For: 18,384,823 * Votes Withheld: 494,745 * Broker Non-Votes: 11,393,266 2. Edward Andrle * Votes For: 18,174,404 * Votes Withheld: 705,164 * Broker Non-Votes: 11,393,266 Proposal 2: Ratification of Appointment of Independent Registered Public Accounting Firm * Votes For: 30,031,054 * Votes Against: 70,706 * Votes Abstain: 171,074 Proposal 3: Approval of an Amendment to the Company's Certificate of Incorporation to effect a reverse stock split of the Company's outstanding common stock at a ratio in the range of 1-for-2 to 1-for-15, to be determined at the discretion of the Company's Board of Directors * Votes For: 28,408,499 * Votes Against: 1,780,031 * Votes Abstain: 84,304 Proposal 4: Approval of an Amendment to the NeuroOne Medical Technologies Corporation 2025 Equity Incentive Plan * Votes For: 15,146,194 * Votes Against: 3,415,319 * Votes Abstain: 318,056 * Broker Non-Votes: 11,393,265 Pursuant to the terms and conditions of the Amendment, the 2025 Equity Incentive Plan was amended to: * increase the aggregate number of shares of Common Stock that may be issued under the 2022 Equity Incentive Plan by 1,500,000 new shares; and * automatically increase on January 1st of each year for a period of five years commencing on January 1, 2027 and ending on (and including) January 1, 2031, the aggregate number of shares of Common Stock that may be issued pursuant to Awards by an amount equal to 5% of the Fully Diluted Shares (as defined in the 2025 Equity Incentive Plan) as of the last day of the preceding calendar year, provided, however that the Board may act prior to the effective date of any such annual increase to provide that the increase for such year will be a lesser number of shares of Common Stock. A copy of the Amendment to the 2025 Equity Incentive Plan is available at https://tinyurl.com/3s9f9nee Proposal 5: Authorization of One or More Adjournments of the Annual Meeting to solicit additional proxies in the event there are insufficient votes to approve Proposal 3 * Votes For: 29,020,938 * Votes Against: 1,067,842 * Votes Abstain: 184,052 About NeuroOne Medical Technologies Headquartered in Eden Prairie, Minnesota, NeuroOne Medical Technologies Corporation -- https://nmtc1.com/ -- is a medical technology company focused on (i) diagnostic, ablation and deep brain stimulation technology for brain related conditions such as epilepsy and Parkinson's disease; (ii) ablation and stimulation for pain management throughout the body; and (iii) drug delivery including diagnostic and stimulation capabilities. The Company is developing and commercializing thin film electrode technology for continuous electroencephalogram ("cEEG") and stereoelectrocencephalography ("sEEG"), spinal cord stimulation, brain stimulation, drug delivery and ablation solutions for patients suffering from epilepsy, Parkinson's disease, dystonia, essential tremors, chronic pain due to failed back surgeries and other pain-related neurological disorders. The Company is also developing the capability to use its sEEG electrode technology to deliver drugs or gene therapy while being able to record brain activity before, during, and after delivery. Additionally, the Company is investigating the potential applications of its technology associated with artificial intelligence. Minneapolis, Minnesota-based Baker Tilly US, LLP, the Company's auditor since 2021, issued a "going concern" qualification in its report dated Dec. 17, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2025, citing that had recurring losses from operations and an accumulated deficit, expects to incur losses for the foreseeable future and requires additional working capital. These are the reasons that raise substantial doubt about the Company's ability to continue as a going concern. As of December 31, 2025, the Company had $8.6 million in total assets, $2.2 million in total liabilities, and $6.4 million in total stockholders' equity. NEW PIPE PLUMBING: Gets Final OK to Use Cash Collateral ------------------------------------------------------- New Pipe Plumbing, Inc. received final approval from the U.S. Bankruptcy Court for the Southern District of Florida, Miami Division, to use cash collateral to fund operations. The court authorized the Debtor to use cash collateral in accordance with its budget to meet current operating obligations, purchase necessary goods and services, or make payroll payments. The Debtor projects total operational expenses of $64,577.66 for April, $69,727.66 for May, and $71,077.66 for June. As protection, 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, asserts 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://shorturl.at/aYB9r from PacerMonitor.com. 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. NOVA CHEMICALS: Moody's Puts 'Ba2' CFR on Review for Upgrade ------------------------------------------------------------ Moody's Ratings placed NOVA Chemicals Corporation's (NOVA) ratings on review for upgrade, including its Ba2 corporate family rating, Ba2-PD probability of default rating, Baa3 senior secured and Ba3 senior unsecured notes ratings. Previously the outlook was stable. This ratings action follows the closing of NOVA's acquisition by Borouge Group International AG (BGI) (Baa1 Stable), a newly formed joint venture between the Abu Dhabi National Oil Company (ADNOC) (owned by Government of Abu Dhabi-Aa2 stable), and OMV AG (A3 stable, 32% owned by the Government of Austria-Aa1 negative). RATINGS RATIONALE / FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The review for upgrade reflects NOVA's evolving capital structure and Moody's expectations that debt will eventually be held by BGI or repaid. In addition, the elimination of NOVA's secured revolver is likely to place upward pressure on its notes ratings. NOVA's absorption into a sizeable global polyolefin business controlled by highly rated operators is also credit positive. NOVA's standalone credit profile is currently weakened by trough industry conditions, but Moody's expects recovery in EBITDA in 2026 to support lower leverage. Also, although NOVA has weak standalone sources of liquidity, Moody's expects any near term funding needs to be supported by BGI's $3 billion global revolving credit facility and that the upcoming $1.05 billion notes due June 2027 will be addressed by BGI ahead of maturity. The review will focus on NOVA's final capital structure, strategic direction, financial policy and liquidity management under BGI. NOVA Chemicals Corporation is a Calgary, Alberta-headquartered producer of ethylene and polyethylene products. The principal methodology used in these ratings was Chemicals published in February 2026. NOVA's standalone scorecard indicated rating is assigned at B1, two notches below the Ba2 CFR, reflecting trough industry conditions. The final rating outcome reflects Moody's expectations for improving earnings, lower financial leverage and parental support. NOVEP LLC: U.S. Trustee Unable to Appoint Committee --------------------------------------------------- The U.S. Trustee for Region 16 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Novep LLC. About Novep LLC Novep, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Calif. Case No. 26-10572) on February 24, 2026, with between $1 million and $10 million in both assets and liabilities. Honorable Bankruptcy Judge Scott C. Clarkson handles the case. The Debtor is represented by Thomas B. Ure, Esq., at Ure Law Firm. NOW SOLUTIONS: ZenaTech Acquires Material Assets in Bankruptcy Sale ------------------------------------------------------------------- ZenaTech, Inc., a technology solution provider specializing in AI (Artificial Intelligence) drones, Drone as a Service (DaaS), enterprise SaaS, and Quantum Computing solutions, announced on April 14, 2026, the acquisition of all material assets of NOW Solutions Inc., a Richardson, Texas-based, HR and payroll software company with a long-standing list of customers including schools, hospitals, municipal organizations, and government entities across the U.S. and Canada. The material assets of the Human Resource Management System (HRMS) company, which serves small to mid-market-sized customers with workforces of 1000 to 20,000 employees, was acquired through a bankruptcy sale process under U.S. bankruptcy law. This acquisition adds a recurring revenue business with decades-long customer relationships, further strengthening ZenaTech's Enterprise SaaS division and portfolio of software companies and brands. "Through this acquisition we are strengthening and expanding our Enterprise SaaS division with a company that brings deep market presence and long-standing customer relationships," said Shaun Passley, Ph.D., ZenaTech CEO. "We are committed to optimizing long-term customer value while growing the customer base. Importantly, this transaction adds a significant base of government and public sector clients, many of which are legacy, multi-decade relationships, further enhancing the durability of our revenue streams and underpinning consistent, high-quality growth for our investors." NOW Solutions delivers HR and payroll solutions that help organizations streamline operations and enhance workforce management. With a web-based platform called emPath, the company provides capabilities that unify human resources and payroll functions into a single, accessible system. The emPath platform enables organizations to efficiently manage employee compensation, skills tracking, absence management, performance reviews, and workforce analytics--while delivering employee self-service capabilities that empower employees and reduce administrative burden. The global HRIS software market exceeds $12 billion annually growing at 8.5% per year according to market analyst Verified Market Reports, with strong continued growth driven by increasing regulatory complexity and workforce management demands. While the target market for many HRIS providers is to service clients with tens of thousands to hundreds of thousands of employees, ZenaTech management believes a significant addressable market exists for the 1,000 to 20,000 employee segments where specialized providers like NOW Solutions deliver trusted, compliant solutions and service continuity. About ZenaTech ZenaTech (Nasdaq: ZENA) (FSE: 49Q) (BMV: ZENA) is a technology company specializing in AI drone, Drone as a Service (DaaS), enterprise SaaS and Quantum Computing solutions for mission-critical applications for business, government and defense. Since 2017, the Company has leveraged its software development expertise and grown its drone design and manufacturing capabilities through ZenaDrone, to innovate and improve customer inspection, monitoring, safety, security, compliance, and surveying processes. With enterprise software customers using branded solutions in law enforcement, government, and industrial sectors, and drones being implemented in these plus agriculture, defense, and logistics sectors, ZenaTech's portfolio of solutions helps drive speed, accuracy, and cost savings. The Company operates through global offices in North America, Europe, Taiwan, and UAE, and is growing its DaaS business and global network of locations through acquisitions. About ZenaDrone ZenaDrone, a wholly owned subsidiary of ZenaTech, develops and manufactures autonomous drone solutions that can incorporate machine learning software, AI, predictive modeling, Quantum Computing, and other software and hardware innovations. Created to revolutionize the hemp farming sector, its specialization has grown to multifunctional drone solutions for surveying, monitoring, inspection, tracking, process automation, and defense applications. Currently, the ZenaDrone 1000 drone is used for crop management applications and critical field cargo applications in the defense sector, the IQ Nano indoor drone is used for inventory management and security in the warehouse and logistics sectors, the IQ Square is an outdoor drone designed for power washing and inspections use in commercial and government sectors, and the IQ Quad is for land surveys. About NOW Solutions Inc. NOW Solutions Inc. provides human resources management systems (HRMS) and payroll software solutions, serving clients across education, healthcare, technology, insurance, manufacturing, public sector, retail, and transportation industries. Its primary product, emPath, is a web-based platform integrating HR and payroll functions, including employee self-service, performance reviews, and benefits tracking. The Company operates in the U.S. and Canada. NOW Solutions Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Tex. Case No. 25-42648) on September 7, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Brenda T. Rhoades handles the case. The Debtor is represented by Brandon Tittle, Esq. at TITTLE LAW FIRM, PLLC. ARMANINO LLP is the Debtor's Financial Advisor. OAKLAND PHYSICIANS: AFSCME Loses Bid for Administrative Expenses ---------------------------------------------------------------- The Hon. Mark A. Randon of the U.S. Bankruptcy Court for the Eastern District of Michigan denied AFSCME Michigan Local 100's motion for administrative expenses in the bankruptcy case of Oakland Physicians Medical Center, L.L.C. Two matters are before the Court: (1) Debtor's objection to AFSCME Michigan Local 100's claim numbers 7-15; and (2) AFSCME Michigan Local 100's motion for administrative expenses. Debtor did not ask the Court to set a bar date for administrative expense requests; none was set. Administrative expense claims receive the second-highest priority in distribution. AFSCME timely filed nine proof of claims on Official Form 410—incorrectly categorizing seven of them as second priority allowed administrative expenses under 11 U.S.C. Sec. 507(a)(2). Because those claims arose post-petition and pre-confirmation, the Court may have deemed them allowed administrative expenses under 11 U.S.C. Sec. 503(b)(1), had they been properly requested. According to the Court, AFSCME's request for administrative expenses through the claims procedure was improper. AFSCME attempted to correct its mistake by filing a motion for administrative expenses. Even though no bar date for administrative expenses was set, the Court finds that a motion filed four days after the Chapter 11 plan was confirmed is untimely. AFSCME did not object to confirmation. As such, and for the reasons stated on the record, there is no evidence supporting cause to allow a late-filed administrative expense under 11 U.S.C. Sec. 503(a) or to find excusable neglect. Nevertheless, because AFSCME's proof of claims were timely, the Court finds a status conference is necessary to determine if these non-administrative expenses may be treated as prepetition general unsecured claims; to address Debtor's remaining objections to claims 9 and 14; and to set a briefing schedule and evidentiary hearing dates, if necessary. The Court sets an in person status conference regarding Debtor's remaining objections to claims for April 20, 2026, at 11:00 a.m. A copy of the Court's Supplemental Opinion and Order dated April 9, 2026, is available at http://urlcurt.com/u?l=OJVuTWfrom PacerMonitor.com. About Oakland Physicians Medical Center Oakland Physicians Medical Center, L.L.C. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Mich. Case No. 24-51134) on November 23, 2024. Judge Maria L. Oxholm presides over the case. The Debtor tapped Robert N. Bassel, Esq. at Robert Bassel, Attorney At Law as bankruptcy counsel and Brandon M. Dalziel, Esq., at Bodman PLC as special counsel. Deborah L. Fish is the patient care ombudsman appointed in the Debtor's case. OMNICARE LLC: Court Okays Chapter 11 Auction with $250MM Base Bid ----------------------------------------------------------------- Ben Zigterman of Law360 reports that on Tuesday, April 14, 2026, Omnicare received court approval for its $250 million stalking horse bid, with a Texas bankruptcy judge endorsing the proposed framework for a potential asset sale. The decision positions the company to move forward with an auction process in May 2026. The stalking horse agreement establishes a minimum purchase price while offering customary incentives to the initial bidder. These protections are designed to balance the need for a credible opening bid with the goal of fostering competitive bidding, the report states. As part of its Chapter 11 case, Omnicare is pursuing a structured sale process to optimize value. The upcoming auction, if held, will determine whether the estate can secure a superior offer before finalizing the transaction, the report states. About Omnicare, LLC Omnicare, LLC is a subsidiary of CVS Health that provides comprehensive pharmacy services. Omnicare and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Texas Lead Case No. 25-80486). In its petition, Omnicare reported estimated assets between $100 million and $500 million and estimated liabilities between $1 billion and $10 billion. Judge Stacey G. Jernigan oversees the cases. The Debtors tapped Jenner & Block, LLP and Haynes Boone as legal counsel; Houlihan Lokey as investment banker; Alvarez & Marsal as restructuring advisor; and Stretto, Inc. as claims agent. OROVILLE HOSPITAL: Seeks to Extend Plan Exclusivity to August 5 --------------------------------------------------------------- Oroville Hospital and OroHealth Corporation asked the U.S. Bankruptcy Court for the Eastern District of California to extend their exclusivity periods to file a plan of reorganization and obtain acceptance thereof to Aug. 5 and Oct. 7, 2026, respectively. The Debtors intend to pursue a sale process in these Chapter 11 Cases to maximize the value of their assets and identify one or more transaction partners that can preserve the Debtors' healthcare facilities for the benefit of their community, patients, employees, and other stakeholders. As described in the Memorandum and the Lane Declaration, the Debtors and their professionals have devoted substantial effort to implementing a successful sales process and will continue to do so in the coming months. On February 20, 2026, the Court entered an order (the "Bidding Procedures Order"), approving the relief requested in the Bidding Procedures Motion with respect to the sale of the Purchased Assets. The Bidding Procedures Order establishes a value maximizing process for the sale of substantially all of the Debtors' assets and does not contemplate the closing of a sale until Summer 2026. Indeed, the hearing to approve the sale is not expected until June 2026 at the earliest. As a likely liquidating chapter 11 cases, the Debtors do not believe that requiring a plan at the early stages of the sale process serves the interests of the estate. Pursuant to the Bidding Procedures Order, the Debtors, assisted by Cain Brothers, a Division of Keybanc Capital Markets Inc., are in the process of soliciting interest from potential buyers of the Purchased Assets. The Debtors submit that maintaining their exclusive right to file and solicit votes on a chapter 11 plan for a reasonable period of time is essential to their ability to continue these sale negotiations without risking the additional costs, disruption, and uncertainty that could arise from the expiration of the Exclusive Periods. The Debtors explain that they have diligently prosecuted these Chapter 11 Cases and are working toward securing a Stalking Horse Bidder over the coming weeks. The Debtors anticipate continuing to work with various parties in interest to close a successful sale, or sales, in accordance with the Bidding Procedures Order, after which they will promptly transition to seeking confirmation of a chapter 11 plan. Counsel to the Debtors: Keith C. Owens, Esq. Nicholas A. Koffroth, Esq. Fox Rothschild LLP 10250 Constellation Boulevard, Suite 900 Los Angeles, CA 90067 Tel: (310) 598-4150 Email: kowens@foxrothschild.com nkoffroth@foxrothschild.com About Oroville Hospital Oroville Hospital is a full-service community healthcare provider located in Oroville, California. The hospital offers a broad range of medical services, including emergency care, inpatient and outpatient treatment, surgical procedures, diagnostic imaging, and specialty care programs. Committed to patient-centered care, Oroville Hospital focuses on quality outcomes, compassionate service, and maintaining strong community health partnerships. Oroville Hospital sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Cal. Case No. 25-26876) on December 8, 2025. In its petition, the Debtor reports estimated assets between $500 million and $1 billion and estimated liabilities between $100 million and $500 million. Honorable Bankruptcy Judge Christopher M. Klein oversees the case. The Debtor is represented by Nicholas A. Koffroth, Esq. P3 HEALTH: Registers Addt'l 72,059 Shares Under 2021 Incentive Plan ------------------------------------------------------------------- P3 Health Partners Inc. filed a Registration Statement on Form S-8 for the purpose of registering an additional 72,059 shares of Class A common stock, par value $0.0001 per share, that became available for issuable pursuant to the Company's 2021 Incentive Award Plan for which a Registration Statement of the Company on Form S-8 (File No. 333-267966) is effective. The Company may be reached through: Leif Pedersen Chief Financial Officer 2370 Corporate Circle, Suite 300 Henderson, NV 89074 Tel: (702) 910-3950 A full text copy of the Registration Statement is available at https://tinyurl.com/ycyu2e33 About P3 Health Partners Henderson, Nev.-based P3 Health Partners Inc is a patient-centered and physician-led population health management company and, for accounting purposes, the successor to P3 Health Group Holdings, LLC and its subsidiaries after the consummation of a series of business combinations in December 2021 with Foresight Acquisition Corp. As the sole manager of P3 LLC, P3 operates and controls all of the business and affairs of P3 LLC and P3's only assets are equity interests in P3 LLC. Las Vegas, Nev.-based BDO USA, P.C., the Company's auditor since 2021, issued a "going concern" qualification in its report dated March 26, 2026, citing that the Company has suffered recurring losses from operations and has working capital deficiencies that raise substantial doubt about its ability to continue as a going concern. As of December 31, 2025, the Company had $656.6 million in total assets, $796.9 million in total liabilities, $14.997 million in redeemable non-controlling interest and a total stockholders' deficit of $155.2 million. PATCHELL HOLDINGS: Moody's Withdraws 'B3' CFR on Debt Repayment --------------------------------------------------------------- Moody's Ratings has withdrawn the B3 corporate family rating and the B3-PD probability of default rating of Patchell Holdings Inc. (PHI). Moody's also have withdrawn the B2 rating assigned to the backed senior secured first lien term loan debt issued at PHI's subsidiary Goodlife Fitness Centres Inc. The outlook for both issuers prior to the withdrawal was positive. RATINGS RATIONALE Moody's have withdrawn the ratings because PHI's debt previously rated by Moody's has been fully repaid. Patchell Holdings Inc. is the premier operator of fitness clubs (gyms) in Canada, with locations in every province. The company is headquartered in London, Ontario. The company has several banners, including its full-service GoodLife clubs, its high value low cost (HVLC) Fit4Less offerings, and Quebec-based Econofitness clubs. PAUL J. MASSEY: April 21 Hearing Set for UST's Motion to Dismiss ---------------------------------------------------------------- Judge Janet E. Bostwick of the United States Bankruptcy Court for the District of Massachusetts will continue on April 21 the hearing on the emergency motion filed by Assistant U.S. Trustee Richard King to dismiss the bankruptcy case of Paul J. Massey, Jr. Pursuant to 28 U.S.C. Secs. 586(a)(3)(G), (a)(8) and 11 U.S.C. Sec. 1112(b), the United States Trustee moves this Court for an order dismissing the chapter 11 case for cause based on the failure of the Debtor to provide proof of insurance. The U.S. Trustee seeks an emergency determination and hearing on this Motion because of the potential for immediate and incalculable administrative claims against the Debtor's estate and harm to creditors and the public due to the apparent lack of adequate property and general liability insurance coverage for the Debtor's property. Upon information and belief, the Debtor owns property at 150 East Chop Drive, Oak Bluffs, MA 02557 which is an oceanfront residential home with an estimated value of $8.9 million. A copy of the Motion is available at http://urlcurt.com/u?l=lwY6Ji from PacerMonitor.com. Paul J. Massey, Jr. filed for Chapter 11 bankruptcy protection (Bankr. D. Mass. Case No. 26-10363) on February 23, 2026, listing under $1 million in both assets and liabilities. The Debtor is represented by David Madoff, Esq., at Madoff & Khoury LLP. PAVMED INC: Craig Kallman, 2015 Living Trust Hold 6% Stake ---------------------------------------------------------- Craig Kallman and the Craig Kallman 2015 Living Trust, disclosed in a Schedule 13G filed with the U.S. Securities and Exchange Commission that as of March 27, 2026, they beneficially own 384,616 shares of PAVmed Inc.'s common Stock, par value $0.001 per share, representing 6.0%, based on 6,383,089 shares of Common Stock outstanding as of March 27, 2026, as reported in the Issuer's annual report on Form 10-K filed on March 27, 2026. The shares are held directly by the Craig Kallman 2015 Living Trust, which Mr. Kallman controls as trustee. Mr. Kallman may be deemed to beneficially own the shares held by the Trust. Craig Kallman 2015 Living Trust may be reached through: Craig Kallman (Trustee) 200 East 62nd Street New York, NY 10065 A full-text copy of Craig Kallman's SEC report is available at: https://tinyurl.com/3555t3tk About PAVmed PAVmed operates through multiple subsidiaries, including Lucid Diagnostics, which markets the EsoGuard test and EsoCheck device, and Veris Health, which focuses on digital tools for personalized cancer care. The company is also advancing its PortIO implantable vascular access device and developing endoscopic imaging technology licensed from Duke University. The New York-based life sciences company reported total assets of $38.81 million, total liabilities of $16.51 million and stockholders' equity of $22.30 million as of Dec. 31, 2025. CBIZ CPAs P.C., in its March 27, 2026 audit report, issued a going-concern qualification, citing a significant working capital deficit, recurring losses and the need to raise additional funds. These conditions, the report notes, raise substantial doubt about the company's ability to continue operating. PAVMED INC: Tasso Partners Hold 14.3% Equity Stake -------------------------------------------------- Tasso Partners, LLC and Dana Carrera, disclosed in a Schedule 13G (Amendment No. 1) filed with the U.S. Securities and Exchange Commission that as of March 27, 2026, they beneficially own 914,246 shares of PAVmed Inc.'s common stock, par value $0.001 per share representing 14.3% of the 6,383,089 shares of common stock outstanding as of March 27, 2026, as reported in the Issuer's annual report on Form 10-K filed on March 27, 2026. Tasso Partners, LLC directly holds 912,996 shares. Dana Carrera may be deemed to beneficially own those shares because she indirectly controls Tasso Partners, LLC (through Tasso Capital, LLC). In addition, Ms. Carrera directly owns 1,250 shares. Tasso Partners may be reached through: Dana Carrera, Manager Tasso Partners, LLC P.O. Box 503 Rumson, NJ 07760 Tel: 347-986-0729 A full-text copy of Tasso Partners, LLC's SEC report is available at: https://tinyurl.com/5t38a3nw About PAVmed PAVmed operates through multiple subsidiaries, including Lucid Diagnostics, which markets the EsoGuard test and EsoCheck device, and Veris Health, which focuses on digital tools for personalized cancer care. The company is also advancing its PortIO implantable vascular access device and developing endoscopic imaging technology licensed from Duke University. The New York-based life sciences company reported total assets of $38.81 million, total liabilities of $16.51 million and stockholders' equity of $22.30 million as of Dec. 31, 2025. CBIZ CPAs P.C., in its March 27, 2026 audit report, issued a going-concern qualification, citing a significant working capital deficit, recurring losses and the need to raise additional funds. These conditions, the report notes, raise substantial doubt about the company's ability to continue operating. PCR AGAWAM: Gets Interim OK to Use Cash Collateral -------------------------------------------------- The United States Bankruptcy Court for the District of Massachusetts issued a proceeding memorandum and order authorizing PCR Agawam, LLC to use cash collateral and granted interim approval, allowing the debtor to use the funds temporarily through May 14. The court ordered the Debtor to file by May 11 a reconciled budget showing actual to projected income and expenses for the period ending April 30 as well as beginning and ending bank balances monthly, and a projected budget for May, June and July. A hearing on the debtor's continued use of cash collateral is scheduled for May 14. About PCR Agawam LLC PCR Agawam LLC is a Massachusetts-based limited liability company engaged in real estate ownership and investment activities. PCR Agawam LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-30101) on February 16, 2026. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities in the same range. Honorable Bankruptcy Judge Elizabeth D. Katz handles the case. The Debtor is represented by Louis S. Robin, Esq., of Law Offices of Louis S. Robin. PERFORCE SOFTWARE: Moody's Affirms B3 CFR Amid Distressed Exchange ------------------------------------------------------------------ Moody's Ratings has affirmed the B3 corporate family rating of Perforce Software, Inc. (Perforce) and downgraded the existing backed senior secured first lien revolving credit facility and backed senior secured first lien term loan to B3 from B2. Moody's affirmed and appended a limited default (LD) designation to Perforce's probability of default rating of B3-PD, changing it to B3-PD/LD. The outlook is stable. The rating action follows the closing of Perforce's exchange of its $300 million second lien term loan due July 2027 to a $296.7 million first lien notes due March 2031. The $3.3 million principal reduction was required to satisfy a Restricted Payment capacity test under the existing first lien credit agreement. Moody's views the transaction as an economic loss and default avoidance, which contributed to the determination of a distressed exchange. Moody's will remove the "/LD" designation from the company's PDR in approximately three business days. "The debt exchange reflects the company's aggressive financial policies and was a key driver of the rating action," said Moody's Ratings Vice President, Justin Remsen. "That said, the extension of maturities provides a liquidity boost and affords the company additional time to execute on its AI infused product strategy." RATINGS RATIONALE Perforce Software's B3 CFR reflects risks associated with its acquisitive growth strategy and aggressive financial policies, which could result in recurring increases in leverage. The company also faces competition from larger and better capitalized peers, including Microsoft, Atlassian, and OpenText. While Perforce's products are embedded in many enterprise DevOps workflows, accelerating adoption of AI-driven development tools could increase competitive pressure. That said, Perforce's domain expertise and diversified product portfolio should provide some protection, although customers with more limited product usage could face elevated churn risk. The credit profile is supported by Perforce's largely recurring revenue base, attractive operating margins, and solid free cash flow generation. Although the company operates in relatively narrow market niches, it maintains a diversified product suite within each segment, providing some resilience. Perforce also benefits from solid net retention rates and Moody's expectations for flat to low single digit organic revenue growth in 2026, an improvement over flat revenue in 2025, supported by new logo wins and improved cross selling to its existing customer base. New bookings in 2025 were particularly impacted by the government shutdown. The B3 rating on the company's first lien credit facilities reflects the post March 31, 2026 capital structure, which now comprises a single class of first lien debt following a transaction that effectively up tiered the former second lien debt. This structural change reduced loss absorption protection for the pre existing first lien lenders. The stable outlook reflects improved liquidity and Moody's assumptions of flat to low single digit revenue growth in 2026. Moody's expects Perforce to maintain a good liquidity profile over the next 12 months, supported by an extended debt maturity profile. The nearest maturity is the revolving credit facility and $1.1 billion of term loans maturing in June 2029. Liquidity consists of approximately $49 million of cash as of March 31, 2026 and full availability under the $75 million revolving credit facility. The revolver includes a first lien net leverage covenant of 8.1x that springs only if utilization exceeds 35%. Moody's expects Perforce to maintain adequate covenant headroom over at least the next 12 months. Moody's projects free cash flow of approximately $40 million annually in 2026 and 2027. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS An upgrade could occur if Perforce demonstrates sustained improvement in organic revenue and earnings growth, adjusted debt to EBITDA declines to and is maintained below 6x, and free cash flow to debt is consistently above 5%. A downgrade could result if operating performance deteriorates, leverage is above debt to EBITDA of 7.5x, or if the liquidity profile weakens. The principal methodology used in these ratings was Software published in December 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. Perforce Software, Inc. is a provider of software solutions that enable enterprise software development operations ("DevOps") teams to work more effectively with agile planning, code management & collaboration and test automation. The company is owned by funds affiliated with Clearlake Capital Group, L.P., Francisco Partners Management L.P., and management. Perforce generated about $650 million of revenue for the twelve months ending September 2025. PINE GATE: ACT Power Services Sold in Parent Bankruptcy ------------------------------------------------------- ACT Power Services, a third-party operation and maintenance (O&M) provider for solar and battery energy storage systems across the continental U.S., announced its successful acquisition by a group of strategic investors led by BridgePeak Energy Capital. The transaction, completed through a bankruptcy acquisition, marks a new chapter for ACT Power. Founded in 2020 and previously acquired by an affiliate of Pine Gate Renewables LLC in 2022, ACT Power Services has established itself as market leading solar O&M provider offering a combination of safe, value driven, and custom-tailored services at scale. The company is currently contracted to provide services for over 9 GWdc of solar generation capacity and over 2 GW-Hrs of battery storage across hundreds of projects in 28 states. As part of the acquisition, Kyle Cooper has been appointed Chief Executive Officer of ACT. He brings nearly 20 years of O&M experience in power generation, including leadership roles as VP of O&M at Cypress Creek Renewables and operations shift manager at Duke Energy. Cooper holds a BS in nuclear engineering, an MBA, and is a licensed professional engineer in North Carolina. In addition, Rebecca Cooper, co-founder of ACT and former General Counsel, rejoins the company as chief legal officer and general counsel. Max Isaacs also joins the executive team as chief operations and safety officer. "I'm excited to rejoin ACT Power Services as CEO and lead the company into its next chapter. Throughout the parent company's bankruptcy and sale process, ACT's team remained focused on what matters most--delivering reliable, high-quality service to our asset owner partners. The momentum we've built is the direct result of a world-class organization that never wavered in its commitment to safety, performance, and uptime. I want to thank our employees and partners for their trust during that transition. With stable ownership and continuity of leadership, we're well positioned to build on this foundation and continue raising the bar for renewable energy operations and maintenance, " said Cooper. "ACT has built a reputation for operational excellence and trusted partnerships with asset owners, and that track record was central to our decision to invest," said David Thigpen, president of BridgePeak Energy Capital. "The investment group brings deep experience across the renewable energy value chain, and we've long admired the caliber of ACT's people and the quality of service they deliver. We're excited to partner with the existing leadership team, support continuity across the organization, and invest behind the platform as ACT enters its next phase of growth." The transaction closed on January 31, 2026, following a Chapter 11 auction conducted on January 5 and subsequent approval by the U.S. Bankruptcy Court. About ACT Power Services ACT Power Services is a leading independent operations and maintenance provider specializing in solar photovoltaic and battery energy storage systems. Founded in 2020, the company provides a full suite of solar and BESS operations and maintenance services to ensure optimal performance and reliability of renewable energy assets across the continental United States. About BridgePeak BridgePeak Energy Capital, LLC is the country's leading energy--focused commercial loan service provider, specializing in arranging, servicing, and managing commercial loans on behalf of banks and institutional lenders. With a deep focus on energy and infrastructure finance, BridgePeak provides compliant, scalable, and data--driven loan management solutions that empower lenders to deploy capital efficiently and confidently. As of March 31, 2026, BridgePeak services a $4.4+ billion commercial loan portfolio. Since founding in 2020, BridgePeak has closed more than $5.6 billion in loans to U.S.--based energy projects. About Pine Gate Renewables Pine Gate Renewables, LLC, develops, finances, constructs, and operates renewable energy projects across the United States. Founded in 2016, the Company manages an operational portfolio of more than two gigawatts of solar and storage assets and maintains a development pipeline exceeding 30 gigawatts. It has arranged and secured roughly $10 billion in project financing and capital investment and, through its wholly owned subsidiary ACT Power Services, provides operations and maintenance support for over seven gigawatts of third-party solar and storage facilities. Pine Gate Renewables and 118 affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-90669) on Nov. 6, 2025. In the petition signed by Ray Shem as president and chief financial officer, Pine Gate estimated assets on a consolidated basis of $1 billion to $10 billion and liabilities on a consolidated basis of $1 billion to $10 billion. The Hon. Christopher M. Lopez is the case judge. The Debtors tapped HUNTON ANDREWS KURTH LLP and LATHAM & WATKINS LLP as counsel. ALVAREZ & MARSAL NORTH AMERICA, LLC, is the Debtors' financial advisor, and LAZARD FRERES & CO. LLC is the investment banker. OMNI AGENT SOLUTIONS, INC., is the claims agent. PIZZAHQ NJ1: Gets Final OK to Use Cash Collateral ------------------------------------------------- PizzaHQ NJ1, LLC received final approval from the U.S. Bankruptcy Court for the District of New Jersey, Newark Vicinage, to use cash collateral to fund operations. Under the final order, the Debtor is authorized to use cash collateral strictly according to a budget and only for essential business purposes. As adequate protection, secured creditor Bankers Healthcare Group, LLC will be granted a replacement lien on the Debtor's post-petition assets, with the same priority and extent as its pre-bankruptcy lien. The order also includes a "carveout" to ensure bankruptcy professionals get paid even though the lender has a lien. The Debtor must set aside $4,000 per month for these fees, but the lender is not directly responsible for paying them and can still object. The final order is available at https://shorturl.at/qRAbU from PacerMonitor.com. Bankers Healthcare Group, LLC holds a security interest on the Debtor's cash, receivables, deposit accounts, and other cash equivalents. The security interest arises from a business loan extended in April 2023, and a UCC search reflects that Bankers holds a lien on substantially all of the Debtor's assets, including accounts and receivables. The Debtor has no employees other than its owners, who have not taken salaries or distributions since formation, and it owns equipment used in pizza production. Although it initially intended to produce and deliver food directly, its income is derived largely from payments by schools under contracted lunch programs. As of the petition date, the Debtor reported approximately $217,000 in accounts receivable, most of which it fears may be uncollectible; approximately $10,500 in bank deposits; and about $383,000 in equipment and machinery. Bankers' lien extends to all accounts and receivables as a condition of its loan. About PizzaHQ NJ1 LLC PizzaHQ NJ1 LLC operates in New Jersey as a pizza broker that facilitates large-scale catering arrangements, primarily providing pizza meals to public-school cafeterias. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. N.J. Case No. 26-11822) on February 19, 2026. In the petition signed by Matthew Bassil, member, the Debtor disclosed up to $1 million in both assets and liabilities. Brian G Hannon, Esq., at Norgaard OBoyle Hannon, represents the Debtor as legal counsel. PKG INC: Case Summary & One Unsecured Creditor ---------------------------------------------- Debtor: PKG, Inc. 36 Merlon Avenue Pasadena, CA 91107 Business Description: PKG, Inc. holds a 25% tenant-in-common interest in a commercial property in Ontario, California, with a recorded interest value of $468,750. The company's stake represents a fractional ownership interest in the property under a shared ownership structure with other co-owners. Chapter 11 Petition Date: April 11, 2026 Court: United States Bankruptcy Court Central District of California Case No.: 26-13503 Judge: Hon. Vincent P. Zurzolo Debtor's Counsel: Marc C. Forsythe, Esq. GOE FORSYTHE & HODGES LLP 17701 Cowan Lobby D, Suite 210 Irvine, CA 92614 Tel: (949) 798-2460 Fax: (949) 955-9437 Email: mforsythe@goeforlaw.com Total Assets: $468,750 Total Liabilities: $5,678,569 The petition was signed by Petros Semerdzhyan as president. The Debtor identified Aminam LLC as its sole unsecured creditor with a $3.8 million claim. Shira M. Namvar is listed as the agent for service of process for Aminam LLC, with an address at 12173 Leven Lane, Los Angeles, CA 90049. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/6JRXX5Q/PKG_INC__cacbke-26-13503__0001.0.pdf?mcid=tGE4TAMA PKG INC: Seeks Chapter 11 Bankruptcy in California -------------------------------------------------- On April 11, 2026, PKG, Inc., filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Central District of California. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to 1–49 creditors. A meeting of creditors under Section 341(a) to be held on May 13, 2026 at 09:30 AM at UST-LA2, TELEPHONIC MEETING. CONFERENCE LINE:1-888-330-1716, PARTICIPANT CODE:8009991. About PKG, Inc. PKG, Inc. is a corporate entity engaged in commercial operations, potentially including packaging, logistics, or related business services. PKG, Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-13503) on April 11, 2026. In its petition, the Debtor reports estimated assets of $100,001–$1,000,000 and estimated liabilities of $1 million–$10 million. Honorable Bankruptcy Judge Vincent P. Zurzolo handles the case. The Debtor is represented by Marc C. Forsythe, Esq. of Goe Forsythe & Hodges LLP. POWER LANE: Seeks Subchapter V Bankruptcy in California ------------------------------------------------------- On April 7, 2026, Power Lane Logistics Distribution & Warehousing, Inc., filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of California. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to 1–49 creditors. About Power Lane Logistics Distribution & Warehousing, Inc. Power Lane Logistics Distribution & Warehousing, Inc. is a logistics company providing distribution, warehousing, and supply chain services. Power Lane Logistics Distribution & Warehousing, Inc. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-21958) on April 7, 2026. In its petition, the Debtor reports estimated assets of $1 million–$10 million and estimated liabilities of $1 million–$10 million. Honorable Bankruptcy Judge Sean H. Lane handles the case. The Debtor is represented by H. Bruce Bronson, Jr., Esq. of Bronson Law Offices, P.C. PRO TEMECULA: U.S. Trustee Unable to Appoint Committee ------------------------------------------------------ The U.S. Trustee for Region 16 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Pro Temecula Town Center, LLC. About Pro Temecula Town Center Pro Temecula Town Center, LLC is a single-asset real estate company (as defined in 11 U.S.C. Section 101(51B)). Pro Temecula Town Center filed Chapter 11 petition (Bankr. C.D. Calif. Case No. 26-10694) on March 3, 2026, listed assets of up to $50,000 and liabilities of between $1 million and $10 million. Judge Scott C. Clarkson oversees the case. The Debtor is represented by: William J. Wall, Esq. Wall Law Office 26895 Aliso Creek Rd # B-110 Aliso Viejo, CA 92656-5301 Tel: (949) 387-4300 x105 Email: wwall@wall-law.com PROJECT PIZZA: Gets Extension to Access Cash Collateral ------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of California entered a second interim order granting Project Pizza NOE, LLC authority to use cash collateral. The court authorized the Debtor to use cash collateral on an interim basis, subject to the terms outlined in the motion and in accordance with the approved operating budget. This allows the business to continue its day-to-day operations while proceeding through Chapter 11. As adequate protection, secured creditors were granted post-petition replacement liens on all assets of the estate, maintaining the same validity, priority, and extent as their prepetition liens. Additionally, they were provided superpriority administrative claims under section 507(b) to cover any potential decline in the value of their collateral, excluding certain avoidance claims. The Order also permits the Debtor to honor customer credits associated with inKind entities, capped at $2,000 for April and $1,000 through mid-May. A final hearing on the motion is scheduled for May 14. Parafin, as secured creditor, is represented by: Jay M. Ross, Esq. Lathrop GPM, LLP 70 S. First Street San Jose, CA 95113 Telephone: (408) 286-9800 Facsimile: (408) 998-4790 jay.ross@lathropgpm.com InKind, as secured creditor, is represented by: Maxim B. Litvak, Esq. Jason S. Pomerantz, Esq. Pachulski Stang Ziehl & Jones, LLP One Sansome Street, Suite 3430 San Francisco, CA 94104 Telephone: (415) 263-7000 Facsimile: (415) 263-7010 mlitvak@pszjlaw.com jspomerantz@pszjlaw.com About Project Pizza NOE LLC Project Pizza NOE, LLC operates a full-service Italian restaurant that serves food as well as beer and wine. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 26-30206) on March 6, 2026, listing up to $500,000 in assets and up to $10 million in liabilities. Judge Hannah L. Blumenstiel oversees the case. Chris Kuhner, Esq., at Kornfield, Nyberg, Bendes, Kuhner & Little P.C., represents the Debtor as legal counsel. QUALITY PORTABLE: Andrew Layden Named Subchapter V Trustee ---------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Andrew Layden as Subchapter V trustee for Quality Portable Rental Service, Inc. Mr. Layden 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. Layden 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 Layden 200 S. Orange Avenue, Suite 2300 Orlando, FL 32801 Telephone: 407-649-4000 Email: alayden@bakerlaw.com About Quality Portable Rental Service Inc. Quality Portable Rental Service, Inc., founded in 2011, provides portable sanitation and waste management solutions, including pump-out services, across Florida, Georgia, and Alabama. The company supplies standard and ADA-accessible portable toilets, high-rise units, hand wash stations, and dumpsters, while also offering septic-related services, serving commercial and residential construction projects as well as festivals, events, and municipal programs. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-02322) on March 31, 2026, with $1,074,016 in assets and $1,288,779 in liabilities. Eliud Roman Cruz, president, signed the petition. Jeffrey S. Ainsworth, Esq. at BRANSON AINSWORTH PLLC represents the Debtor as legal counsel. REEL TRIMS: 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 Reel Trims LLC. 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 Reel Trims LLC Reel Trims LLC, established in 2008 in Port Saint Lucie, Florida, provides doors, trim, moulding, and hardware for residential construction and renovation projects, offering entry, interior, and sliding doors alongside finishing materials and hardware designed for durability and precise installation. The company serves contractors and homeowners, supplying components for upgrades and new builds while emphasizing craftsmanship and project-specific fit. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-14072) on March 31, 2026, with $500,000 to $1 million in assets and $1 million to $10 million in liabilities. Ronald Turba, owner, signed the petition. Judge Erik P. Kimball presides over the case. Steven E. Wallace, Esq., at Steven E. Wallace, PL represents the Debtor as legal counsel. REINFRO LLC: Court Extends Cash Collateral Access to April 30 ------------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Texas, Brownsville Division, entered a second interim order authorizing Reinfro, LLC to use cash collateral. Under the order, the Debtor is permitted to use revenues and other cash collateral in the ordinary course of business through April 30, in accordance with an approved operating budget and for expenses due before the final hearing. The Debtor's 30-day budget shows total operational expenses of $262,550. As adequate protection for secured creditors, the court granted them replacement liens on post-petition cash collateral and newly acquired property, with the same validity and priority as their pre-petition liens. These liens extend to accounts receivable, contract rights, and deposit accounts but specifically do not apply to Chapter 5 avoidance actions. The order preserves creditors' rights and clarifies that authorization to use cash collateral does not constitute a determination that creditors are fully protected or that any party agrees to a future reorganization plan. The order also establishes a carveout from collateral proceeds to pay certain administrative expenses, including court fees, U.S. Trustee fees, Subchapter V trustee expenses, trustee costs up to $15,000, and approved professional fees for the Debtor's counsel. However, this carveout does not create claims against lenders or liens on the Debtor's real or tangible personal property. Use of cash collateral will automatically terminate upon specific events, including dismissal or conversion of the Debtor's Chapter 11 case, appointment of a Chapter 11 trustee, expiration of the order, or a material breach of the approved budget. A final hearing is scheduled for April 30. The order is available at X from PacerMonitor.com. About Reinfro, LLC Reinfro, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 26-10023) on Feb. 18, 2026, with $1 million to $10 million in both assets and liabilities. The petition was signed by Raul Gonzalez as vice president. Judge Hon. Eduardo V Rodriguez oversees the case. The Debtor is represented by: Robert C. Lane, Esq. The Lane Law Firm PLLC 713-595-8200 notifications@lanelaw.com RESTORATION HARDWARE: S&P Affirms 'B' ICR, Alters Outlook to Neg. ----------------------------------------------------------------- S&P Global Ratings revised the outlook to stable from negative and affirmed all its ratings on luxury home furnishings retailer Restoration Hardware Inc. (RH), including the 'B' issuer credit rating. The stable outlook reflects S&P's expectation for consistent operating performance and credit metrics over the next 12 months, supported by adjusted leverage in the mid-5x area and positive free operating cash flow (FOCF) above $200 million. RH's operating performance was better than expected in the fiscal year ended Jan. 31, 2026, in a challenging operating environment. S&P now expects S&P Global Ratings-adjusted leverage of 5.5x in fiscal 2026, improving to 4.9x in fiscal 2027. S&P said, "We revised the outlook to stable to reflect our expectation that credit metrics will be more resilient than previously anticipated, supported by better operating performance, positive FOCF, and moderating growth investments as it moves past its peak investment phase. While leverage remains elevated and near-term margins pressured, our base case assumes that improving profitability, FOCF, and emerging operating leverage will support the gradual strengthening of credit metrics. This also depends on successful execution of RH's expansion strategy. "We expect consistent revenue growth in fiscal 2026. New gallery openings, refreshed product assortments, and expansion into new categories support the forecast, including product refresh cycles and early traction from new concepts such as RH Estates. While demand remains sensitive to housing turnover and macroeconomic conditions, RH's high-end customer base and ongoing product elevation support resilience in consumer spending and demand for its products. We expect revenue improvement to accelerate to about 8% in fiscal 2027 from scale of its international galleries and newer store concepts contributing more meaningfully." Uncertainty remains around underlying demand strength and sustainable growth. While RH has returned to revenue growth, a meaningful portion is being driven by new gallery openings, relocations, and newer concepts which can contribute incremental revenue independent of demand trends. Expansion rather than broad-based demand recovery may partially support improvement, particularly in a still-constrained housing market. In addition, RH's international expansion introduces execution risk and potential variability in returns as new markets and concepts may take time to scale and achieve profitability. Profitability will decline modestly in the near term before improving, as investment pressures subside and operating leverage emerges. S&P said, "We forecast gross margin to decline 80 basis points (bps) in fiscal 2026, The gross margin decline reflects tariff impacts that remain embedded in the cost structure, as well as ongoing supply chain transitions as RH continues to diversify its sourcing. At the same time, we expect selling, general, and administrative cost deleveraging from expansion-related startup costs, including pre-opening expenses, infrastructure investments, and scaling of newer concepts. As a result, we forecast a 210-bps decline in S&P Global Ratings-adjusted EBITDA to 19.3% in fiscal 2026. We expect improvement to the low-20% area from fiscal 2027 onward on tariff stabilization sourcing optimization and operating leverage as investments mature and revenues scale." Leverage in 2026 is modestly higher as an investment cycle pressures earnings. For the fiscal year that ended Feb. 1, 2025, S&P Global ratings adjusted leverage improved to 5.3x from 5.9x in the prior year. S&P said, "While this remains high, we believe peak balance sheet pressure has largely passed. However, the expected EBITDA margin compression in 2026 from expansion related costs and modest gross margin pressure will temporarily increase leverage to 5.5x. We then forecast it to decline below 5x in 2027, supported by margin improvement and continued FOCF as the company transitions beyond its most investment intensive phase." RH will sustain positive FOCF, supporting deleveraging capacity. After an FOCF deficit in fiscal 2024 due to elevated inventory investment and capital expenditure, RH returned to positive FOCF fiscal 2025 at $246 million, supported by working capital normalization and improved operating performance. The inventory buildup in 2024, in part because of forward buying ahead of tariffs and supply chain disruptions, significantly declined in 2025, contributing to the working capital benefit. While capital expenditure remains a meaningful use of cash, S&P expects improving EBITDA, disciplined investment pacing, and incremental inventory reduction lead to FOCF of about $225 million in 2026. The stable outlook reflects S&P's expectation for consistent operating performance and credit metrics over the next 12 months, supported by S&P Global Ratings-adjusted leverage in the mid-5x area and FOCF over $200 million. S&P could lower its rating on RH if: -- A worsening macroeconomic environment or strategy missteps reduce sales and profitability, limiting FOCF; or -- S&P Global Ratings-adjusted leverage rises above 6x. S&P could raise its rating if RH sustains S&P Global Ratings-adjusted leverage below 5x. This could occur if it: -- Sustains organic revenue increases and consistent execution of expansion initiatives, supporting improved profitability and consistently meaningful FOCF; and -- Maintains a financial policy consistent with leverage below 5x, proactively addresses debt maturities, and prioritizes debt reduction over shareholder returns. RICHARD MEYER: Case Summary & 16 Unsecured Creditors ---------------------------------------------------- Debtor: Richard Meyer Gallery, Inc. d/b/a Beads of Paradise 16 East 17th Street New York NY 10003 Business Description: Richard Meyer Gallery, Inc., doing business as Beads of Paradise, is a New York City-based retail and online specialty store operating from Manhattan that sells beads, gemstones, and jewelry-making materials sourced globally, including Africa, India, Southeast Asia, the Middle East, and Latin America. Founded in the late 1980s, the company also operates a showroom offering finished jewelry, trade beads, and decorative artifacts, along with services such as custom jewelry design, repair work, and instructional beadwork classes. Its customers primarily include independent jewelry designers, collectors, artisans, and craft enthusiasts. Chapter 11 Petition Date: April 13, 2026 Court: United States Bankruptcy Court Southern District of New York Case No.: 26-10842 Judge: Hon. John P. Mastando III Debtor's Counsel: Adrienne Woods, Esq. WZMP WEINBERG ZAREH MALKIN PRICE LLP 45 Rockefeller Plaza, 20th Floor New York NY 10111 Tel: 212-899-5470 Email: awoods@wzmplaw.com Total Assets: $18,036 Total Liabilities: $1,014,927 The petition was signed by Brian Kenner as president. A full-text copy of the petition, which includes a list of the Debtor's 16 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/NWJUQ2Q/Richard_Meyer_Gallery_Inc__nysbke-26-10842__0001.0.pdf?mcid=tGE4TAMA ROCKFORD SILK: Court Extends Cash Collateral Access to April 20 --------------------------------------------------------------- Rockford Silk Screen Process, Inc. received another extension from the U.S. Bankruptcy Court for the Northern District of Illinois, Western Division, to use cash collateral. The court entered its 10th interim order extending the Debtor's authority to use cash collateral to fund its operations from April 5 to April 20. As protection, lender Northwest Bank of Rockford will be granted a first position, fully-perfected security interest in and replacement lien on the debtor-in-possession account and all of property of the Debtor whether acquired before or after its Chapter 11 filing, subject only to valid pre-bankruptcy purchase money security interests, if any. Northwest Bank is not allowed to apply funds in the DIP account or offset any balance owed without prior written consent of the Debtor or order of the court. Any sale of collateral outside the ordinary course requires lender consent or a court order. A status hearing is set for April 17. The order is available at https://shorturl.at/MACB6 from PacerMonitor.com. Rockford, a 70-year-old Illinois-based printing company headquartered in Loves Park, employs approximately 40 individuals and reported revenues of $8.3 million in 2024. Facing increasing creditor pressure and a threat of receivership from its secured lender, the Debtor filed for Chapter 11 protection on September 17, 2025. The Debtor has identified two major secured creditors: Northwest Bank of Rockford, owed approximately $2,038,120, and the U.S. Small Business Administration, which holds a subordinate lien of approximately $1,954,566. About Rockford Silk Screen Process Inc. Rockford Silk Screen Process, Inc. operates a custom printing business from 6201 Material Avenue, Loves Park, Illinois, providing silk screen, digital, and large-format printing services. The Company serves corporate and franchise clients across North America, offering products including decals, nameplates, electronic overlays, signage, and fleet graphics, and supports project management, creative design, and installation for vehicle fleets. With over 40 years of experience in the print industry, Rockford Silk Screen Process utilizes both traditional and advanced printing technologies from its 100,000+ square foot facility. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-81268) on September 17, 2025. In the petition signed by Jason Yost, president, the Debtor disclosed $3,339,844 in assets and $6,456,627 in liabilities. Judge Thomas M. Lynch oversees the case. George P. Hampilos, Esq., at Hampilos & Associates, Ltd., is the Debtor's legal counsel. SAFE INNOVIATION: Tarek Kiem 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 Safe Innoviation, Inc. 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 Safe Innoviation Inc. Safe Innoviation, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-14132) on April 01, 2026, with $0 to $50,000 in assets and $100,001 to $500,000 in liabilities. Jerry A. Borbon, Esq. represents the Debtor as legal counsel. SAKS GLOBAL: Grable Martin Advises People Center and CleNET ----------------------------------------------------------- In the Chapter 11 bankruptcy cases of Saks Global Enterprises LLC, and its debtor-affiliates, Grable Martin PLLC, filed with the United States Bankruptcy Court for the Southern District of Texas, Houston Division, a Verified Statement pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure to inform the Court that the firm represents these creditors: 1. People Center, Inc. d/b/a Rippling 2443 Fillmore St., #380-7361 San Francisco, CA 94115-1814 2. CleNET Technologies (Beijing) Co., Ltd. 2625 Butterfield Road, Suite 120N Oak Brook, IL 60523 Each of the Creditors has retained Grable Martin PLLC to represent their interests in connection with this Chapter 11 case. The Creditors are independent clients of the firm. The firm does not hold any claims against, or hold any interest in, the Debtors. Counsel for CleNET Technologies (Beijing) Co. Ltd.: Mary Elizabeth Heard, Esq. Grable Martin PLLC 7700 Broadway St., Ste 104 PMB 308 San Antonio, TX 78209 Tel: (210) 572-4925 E-mail: meheard@grablemartin.com About Saks Global Enterprises LLC Saks Global is the largest multi-brand luxury retailer in the world, comprising Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman, Saks OFF 5TH, Last Call and Horchow. Its retail portfolio includes 70 full-line luxury locations, additional off-price locations and five distinct e-commerce experiences. With talented colleagues focused on delivering on our strategic vision, The Art of You, Saks Global is redefining luxury shopping by offering each customer a personalized experience that is unmistakably their own. By leveraging the most comprehensive luxury customer data platform in North America, cutting-edge technology, and strong partnerships with the world's most esteemed brands, Saks Global is shaping the future of luxury retail. Saks Global Properties & Investments includes Saks Fifth Avenue and Neiman Marcus flagship properties and represents nearly 13 million square feet of prime U.S. real estate holdings and investments in luxury markets. On Jan. 13, 2026, and Jan. 14, 2026, Saks Global Enterprises, LLC and 112 affiliated debtors filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 26-90103). The jointly administered cases are pending before the Honorable Alfredo R. Perez. Willkie Farr & Gallagher LLP and Haynes and Boone, LLP are serving as legal counsel, PJT Partners LP is serving as an investment banker, Berkeley Research Group is serving as the financial advisor, and C Street Advisory Group is serving as a strategic communications advisor to the Company. Stretto is the claim agent. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel, Lazard Freres & Co, LLC is serving as investment banker, FTI Consulting, Inc. is serving as financial advisor, and Kekst and Company, Inc., is serving as a strategic communications advisor to an ad hoc group of debt holders. Hilco Global Professional Services, LLC, is the real property advisor to the Ad Hoc Group. Bank of America, N.A., is the administrative agent and collateral agent under the $1.5 billion asset-based revolving credit facility. U.S. Bank Trust Company, National Association, is the administrative agent and collateral agent under the $2.56 billion SGUS DIP Facility, a term loan facility with new money and roll-up components. U.S. Bank is also the agent under the $1.75 billion OpCo DIP Facility, a term loan facility to be used for refinancing existing debt. Barclays Bank, PLC serves as the fronting lender of the SGUS First Out DIP Loans. It is advised by Dentons US LLP. Otterbourg P.C., Morgan, Lewis & Bockius LLP, and Norton Rose Fulbright US LLP serves as counsel to the ABL DIP Agent; M3 Advisory Partners, LP, is the financial advisor to the ABL DIP Agent; and Great American serves as its inventory valuation consultant. Seward & Kissel LLP serves as counsel to the SGUS DIP Agent. On January 27, 2026, the U.S. Trustee for Region 7 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. SAKS GLOBAL: Secures Court Ok to Sell Company Jet for $6MM ---------------------------------------------------------- Alex Wittenberg of Law360 Bankruptcy Authority reports that on Tuesday, April 14, 2026, Saks Global Enterprises LLC received court approval to sell a company-owned jet for $6 million in its Chapter 11 case pending in Texas. The luxury retailer positioned the sale as a value-maximizing step within its restructuring process. The company told the court that the jet is not essential to its core business and that divesting the asset would eliminate ongoing expenses while delivering meaningful proceeds to the estate. Saks further indicated that the negotiated price is consistent with market conditions, the report states. Following the approval, Saks can finalize the transaction and apply the proceeds toward its restructuring efforts. The sale underscores the company's focus on shedding non-core assets as it works through Chapter 11, according to Law360. About Saks Global Enterprises LLC Saks Global is the largest multi-brand luxury retailer in the world, comprising Saks Fifth Avenue, Neiman Marcus, Bergdorf Goodman, Saks OFF 5TH, Last Call and Horchow. Its retail portfolio includes 70 full-line luxury locations, additional off-price locations and five distinct e-commerce experiences. With talented colleagues focused on delivering on our strategic vision, The Art of You, Saks Global is redefining luxury shopping by offering each customer a personalized experience that is unmistakably their own. By leveraging the most comprehensive luxury customer data platform in North America, cutting-edge technology, and strong partnerships with the world's most esteemed brands, Saks Global is shaping the future of luxury retail. Saks Global Properties & Investments includes Saks Fifth Avenue and Neiman Marcus flagship properties and represents nearly 13 million square feet of prime U.S. real estate holdings and investments in luxury markets. On Jan. 13, 2026, and Jan. 14, 2026, Saks Global Enterprises, LLC and 112 affiliated debtors filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 26-90103). The jointly administered cases are pending before the Honorable Alfredo R. Perez. Willkie Farr & Gallagher LLP and Haynes and Boone, LLP are serving as legal counsel, PJT Partners LP is serving as an investment banker, Berkeley Research Group is serving as the financial advisor, and C Street Advisory Group is serving as a strategic communications advisor to the Company. Stretto is the claim agent. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel, Lazard Freres & Co, LLC is serving as investment banker, FTI Consulting, Inc. is serving as financial advisor, and Kekst and Company, Inc., is serving as a strategic communications advisor toan ad hoc group of debt holders. Hilco Global Professional Services, LLC, is the real property advisor to the Ad Hoc Group. Bank of America, N.A., is the administrative agent and collateral agent under the $1.5 billion asset-based revolving credit facility. U.S. Bank Trust Company, National Association, is the administrative agent and collateral agent under the $2.56 billion SGUS DIP Facility, a term loan facility with new money and roll-up components. U.S. Bank is also the agent under the $1.75 billion OpCo DIP Facility, a term loan facility to be used for refinancing existing debt. Barclays Bank, PLC serves as the fronting lender of the SGUS First Out DIP Loans. It is advised by Dentons US LLP. Otterbourg P.C., Morgan, Lewis & Bockius LLP, and Norton Rose Fulbright US LLP serves as counsel to the ABL DIP Agent; M3 Advisory Partners, LP, is the financial advisor to the ABL DIP Agent; and Great American serves as its inventory valuation consultant. Seward & Kissel LLP serves as counsel to the SGUS DIP Agent. On January 27, 2026, the U.S. Trustee for Region 7 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. SANTA PAULA: Seeks to Sell Moorpark Property to Highest Bidder -------------------------------------------------------------- Santa Paula Hay & Grain and Ranches seeks permission from the U.S. Bankruptcy Court for the Central District of California, Northern Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor's Property is located at Grimes Canyon Road, Moorpark, CA 93021. The Debtor is an agricultural producer whose principal office is in Fillmore, California. The Debtor's plan to emerge from the bankruptcy is to sell some of its land and personal property assets in sales and fund a plan with recoveries from pending litigation. Negotiations have resulted in an offer by Collin Baumgard to purchase the Property. The purchase price indicated in the Agreement is $675,000 with no contingencies. The offer to purchase the Property by Buyer is subject to a higher and better offer being made at the hearing on the Motion by any other party wishing to purchase the Property. The Buyer has deposited $10,000 with escrow and will deposit an additional $10,250 within two business days prior to the hearing on the Motion, for a total deposit of $20,250. If the Buyer is not the winning bidder, the Buyer will be entitled to a break up fee in the amount of $20,000. The Debtor has determined that the best means for it to obtain the most favorable recovery from the Sale of the Property is to present Buyer as the initial offer to purchase and then allow overbidding for the Property at a hearing on the Motion to Sell. The Debtor will continue to market the Sale of the Property with Gwyn Goodman Realty, Inc., the Broker Debtor has retained to market the Sale of the Property. The Debtor will make it best efforts to inform the marketplace of the terms for the Sale of the Property and that the Sale is subject to an opportunity for them to bid higher and better terms for the purchase of the Property up until the time of the hearing on the Motion to Sell. The full terms of the Agreement are provided in the Agreement.https://urlcurt.com/u?l=WLTbyD About Santa Paula Hay & Grain and Ranches Santa Paula Hay & Grain and Ranches specializes in providing a variety of hay and grain products to meet the needs of farmers and animal owners. The Company offers high-quality feed options for livestock and pets. Santa Paula Hay & Grain and Ranches sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-10314) on March 12, 2025. In its petition, the Debtor reports estimated assets between $100 million and $500 million and between $10 million and $50 million. Honorable Bankruptcy Judge Ronald A. Clifford III handles the case. The Debtor is represented by Reed Olmstead, Esq. SANTA PAULA: Seeks to Sell Oak View Property to Highest Bidder -------------------------------------------------------------- Santa Paula Hay & Grain and Ranches seeks permission from the U.S. Bankruptcy Court for the Central District of California, Northern Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor's Property is located at 10980 North Ventura Avenue, Oak View, CA 93022. The Debtor is an agricultural producer whose principal office is in Fillmore, California. Negotiations have resulted in an offer by Lorenzo Gama to purchase the Property. The purchase price indicated in the Agreement is $1,400,000 with no contingencies. The offer to purchase the Property by Buyer is subject to a higher and better offer being made at the hearing on the Motion by any other party wishing to purchase the Property. The Buyer has deposited $35,000 with escrow. The sale is subject to a higher and better bid pursuant to the sale and overbid procedures. The Agreement indicated that the sale would close within 90 days of acceptance, but the Buyer has agreed to extend the date to allow the Motion to be heard and the sale closed within 15 days after the hearing on the Motion. The Buyer will pay $450 transaction to coordinator fee to Heritage Valley Realty and $1500 administrative fee to Lorenzo Gama. The Debtor is to pay Buyer's broker, Heritage Valley Realty, a fee of 2.5% of the purchase price from the sale proceeds. The Debtor has determined that the best means for it to obtain the most favorable recovery from the Sale of the Property is to present Buyer as the initial offer to purchase and then allow overbidding for the Property at a hearing on the Motion to Sell. The Debtor will continue to market the Sale of the Property with LIV Sothebys International Realty, the Broker Debtor has retained to market the Sale of the Property. The Debtor will make it best efforts to inform the marketplace of the terms for the Sale of the Property and that the Sale is subject to an opportunity for them to bid higher and better terms for the purchase of the Property up until the time of the hearing on the Motion to Sell. About Santa Paula Hay & Grain and Ranches Santa Paula Hay & Grain and Ranches specializes in providing a variety of hay and grain products to meet the needs of farmers and animal owners. The Company offers high-quality feed options for livestock and pets. Santa Paula Hay & Grain and Ranches sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 25-10314) on March 12, 2025. In its petition, the Debtor reports estimated assets between $100 million and $500 million and between $10 million and $50 million. Honorable Bankruptcy Judge Ronald A. Clifford III handles the case. The Debtor is represented by Reed Olmstead, Esq. SARC US: To Sell Carol Stream Property to Praveen Mothe for $1.7MM ------------------------------------------------------------------ SARC US seeks approval from the U.S. Bankruptcy Court for the Eastern District of Missouri, Southeastern Division, to sell commercial estate, free and clear of liens, claims, interests, and encumbrances. Since the confirmation of Debtor’s Plan, Debtor has made efforts to sell its real estate assets for the benefit of creditors. The Debtor has been in negotiations with Praveen Mothe in an effort to sell certain commercial property located in Carol Stream, Illinois. Purchaser has offered to purchase the Real Estate for $1,700,000.00. MRV Bank, the lender with a secured interest in the Property, has consented to the Sale. The Debtor believes that the proposed Sale Price represents a fair offer that will enable Debtor to repay its creditors. The Purchaser has requested an expedited closing date for the Sale. The Debtor requests that the Court enter its order of the Motion to expedite hearing on May 4, 2026 at 2:00 p.m. (Prevailing Central Time), or as soon as counsel may be heard, and for such other and further relief as this Court deems just and proper. About SARC US SARC US, LLC owns real estate in Carol Stream, Illinois, which generates rental income. SARC US, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Mo. Case No. 24-10335) on June 20, 2024, with $1 million to $10 million in both assets and liabilities. Steven Caton, manager, signed the petition. Spencer Desai, Esq., at The Desai Law Firm represents the Debtor as legal counsel. SEALED AIR: S&P Lowers ICR to 'B+' Following Acquisition by CD&R ---------------------------------------------------------------- S&P Global Ratings lowered its issuer credit rating on Sealed Air Corp. to 'B+' from 'BB+' and removed its ratings from CreditWatch, where it placed them with negative implications on Nov. 18, 2025. At the same time, S&P lowered its issue-level rating on Sealed Air's $450 million of 6.875% senior unsecured notes due 2033 to 'B+' from 'BB+' and revised the recovery rating to '3' from '4'. On April 9, 2026, Sealed Air Corp. announced the completion of its acquisition by funds affiliated with Clayton, Dubilier & Rice (CD&R). Therefore, S&P now views Sealed Air as a wholly owned subsidiary of Sword Purchaser LLC. Following the transaction, these notes became secured. S&P withdrew all other debt ratings on Sealed Air because all of the company's other previously outstanding debt was repaid in full. S&P said, "The stable outlook reflects our forecast that S&P Global Ratings-adjusted leverage will increase to about 7x following the acquisition by CD&R. We expect leverage will remain high at above 6x through 2027. "We lowered our issuer credit rating on Sealed Air to equalize it with our rating on Sword Purchaser because we view Sealed Air as a core subsidiary of Sword Purchaser. Sealed Air's $450 million of 6.875% senior unsecured notes due 2033 will remain outstanding in Sword Purchaser's capital structure. Following the close of the acquisition, these notes became secured. We lowered our issue-level rating on these notes in conjunction with the downgrade of the issuer credit rating. Our ratings on all of Sword Purchaser's other debt are unchanged." SHADY TREE: Seeks Cash Collateral Access ---------------------------------------- Shady Tree LLC asks the U.S. Bankruptcy Court for the Eastern District of California, Sacramento Division, for authority to use cash collateral and provide adequate protection. The Debtor argues that the requested funds -- generated from its logging activities, including tree felling, delimbing, and transporting logs -- are its only source of operating capital. Without immediate access to this cash collateral, the company would be unable to pay employees, rent, insurance, and other essential expenses, leading to operational shutdown and a significant loss in estate value, harming both the Debtor and creditors. The cash collateral is subject to multiple secured creditors' liens, including lenders such as John Deere, Komatsu Financial, and others. Despite these claims, the Debtor requests permission to use the funds according to a proposed budget to preserve assets and maintain business continuity until plan confirmation. A copy of the motion is available at https://urlcurt.com/u?l=dnbcte from PacerMonitor.com. About Shady Tree LLC Shady Tree LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Cal. Case No. 26-21904) on April 3, 2026. In the petition signed by Thomas Markham, managing member, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Christopher D. Jaime oversees the case. Michael Jay Berger, Esq., at Law Offices of Michael Jay Berger, represents the Debtor as legal counsel. SKYE A. SMITH DDS: Greta Brouphy Named Subchapter V Trustee ----------------------------------------------------------- The Acting U.S. Trustee for Region 5 appointed Greta Brouphy, Esq., at Heller Draper & Horn, LLC as Subchapter V trustee for Skye A. Smith DDS, LLC. Ms. Brouphy will be paid an hourly fee of $425 for her services as Subchapter V trustee and an hourly fee of $125 for paralegal services. In addition, the Subchapter V trustee will receive reimbursement for work-related expenses incurred. Ms. Brouphy declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Greta M. Brouphy Heller Draper & Horn, LLC 650 Poydras St., Ste. 2500 New Orleans, LA 70130-6175 Telephone: 504-299-3300-; Fax 504-299-33 Email: gbrouphy@hellerdraper.com About Skye A. Smith DDS LLC Skye A. Smith DDS, LLC d/b/a Poise Dental Studio sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. La. Case No. 26-10772) on March 31, 2026, with $100,001 to $500,000 in assets and liabilities. Judge Meredith S. Grabill presides over the case. Cynthia Lee Traina, Esq. at the Law Office Of Cynthia Lee Traina represents the Debtor as legal counsel. SLATEHILL EOM: Section 341(a) Meeting of Creditors on May 18 ------------------------------------------------------------ On April 10, 2026, Slatehill EOM LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of New York. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to 1–49 creditors. A meeting of creditors under Section 341(a) to be held on May 18, 2026 at 12:30 PM at Zoom.us - USTrustee 4: Meeting ID 161 9371 8283, Passcode 4427423184, Phone 1 (202) 804-6344. About Slatehill EOM LLC Slatehill EOM LLC is a limited liability company. Slatehill EOM LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-35383) on April 10, 2026. In its petition, the Debtor reports estimated assets of $1 million–$10 million and estimated liabilities of $1 million–$10 million. Honorable Bankruptcy Judge Kyu Young Paek handles the case. The Debtor is represented by Craig Saunders, Esq. of Munzer & Saunders LLP. SMARTZ INC: Case Summary & 20 Largest Unsecured Creditors --------------------------------------------------------- Debtor: Smartz Inc. 1401 Interstate Dr. Champaign, IL 61822-1172 Business Description: Smartz Inc., based in Champaign, Illinois, develops property management software platforms that automate real estate operations, including leasing, tenant services, maintenance tracking, and financial management. Founded in 2021, the company integrates smart building and Internet of Things technologies, such as access control and security systems, into its platform. Its products are used by property owners and managers. Chapter 11 Petition Date: April 12, 2026 Court: United States Bankruptcy Court Central District of Illinois Case No.: 26-90240 Judge: Hon. Mary P. Gorman Debtor's Counsel: William J. Factor, Esq. THE LAW OFFICE OF WILLIAM J. FACTOR, LTD. 105 W. Madison St., Suite 2300 Chicago, IL 60602 E-mail: wcfactor@wfactorlaw.com Estimated Assets: $10 million to $50 million Estimated Liabilities: $1 million to $10 million The petition was signed by Kevin Wan as president. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/X35OMXI/Smartz_Inc__ilcbke-26-90240__0001.0.pdf?mcid=tGE4TAMA List of Debtor's 20 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount 1. Aedify,ai Inc. $1,000,275 1401 Interstate Dr Champaign, IL 61822 2. Andrew Xie Wages $3,009 4501 Ironwood Ln Champaign, IL 61822 3. Baker Tilly Advisory $6,825 Group, LP PO Box 78975 Milwaukee, WI 53278-8975 4. Blue Cross and Blue $13,899 Sheild of Illinois PO Box 650615 Dallas, TX 75265-0615 5. Charles Wineland III Wages $3,846 118 Valley Hall Dr Perrysburg, OH 43551 6. Charlie Wan Expense $8,622 1401 Interstate Dr Reimbursement Champaign, IL 61822 7. EN OD Capital $1,289,580 1202 Avenue U Ste 1115 Brooklyn, NY 11229 8. Funding Futures $93,750 100 Merrick Rd. 419 E Rockville Centre NY 11570 Email: info@fundingfutures.com 9. Gowin Vision Pte Ltd. $799,942 No. 251, 253 Upper Thompson Rd Singapore 574376 10. Hum Capital - ICM $5,576,615 Investment Partners II 228 Park Avenue S., PMP 44954 New York, NY 10003 11. Inae Foreman Wages $2,019 603 Capitol St Savoy, IL 61874 12. Jaffe Capital $94,012 99 Wall Street #1540 New York, NY 10005 13. Jian Zhang Wages $2,307 2403 Highview Ct Apt 6 Champaign, IL 61822 14. Muyuan He Wages $1,538 707 S 4th St Apt 909 Champaign, IL 61820 15. On Deck Capital - $98,644 ODK Capital 4700 W. Daybreak Pkwy. Suite 200 South Jordan, UT 84009 16. Qianfu Tang Wages $1,923 914 Waterview Way Apt G Champaign, IL 61822 17. Ramp Business Corporation $1,675 28 W 23rd St, Floor 2 New York, NY 10010 18. Square Advance $105,551 90 E Halsey Rd Parsipanny Parsipanny, NJ 07054 19. WebBank and Marlin $149,461 Leasing Corp dba PEAC Solutions Attn: Loan Operations 300 Fellowship Road Mount Laurel, NJ 08054 20. Zhou Chen Wages $2,307 1638 Valley Rd Champaign, IL 61820 SOUTHERN TIRE: Gets Extension to Use Cash Collateral ---------------------------------------------------- Southern Tire and Fleet Service, LLC received another extension from the U.S. Bankruptcy Court for the Middle District of Florida to use cash collateral. The court issued a third interim order authorizing the Debtor to use funds for court-approved payments, including Subchapter V Trustee obligations, and necessary operating expenses in line with an approved budget. The Debtor projects total operational expenses of $123,557 for the period from March 25 to April 24. As adequate protection, secured lenders will be granted replacement liens on post-petition cash collateral, maintaining the same priority and validity as their pre-petition liens without requiring additional filings. The order preserves the rights of the U.S. Trustee and any creditors' committee to challenge lien validity or seek further protections. The Debtor must comply with key reporting and financial obligations, including becoming current on trustee fees within 14 days after entry of the interim order and filing all delinquent monthly operating reports. Failure to meet these obligations may result in termination of the Debtor's authority to use cash collateral. The authorization remains in effect until a further hearing scheduled for May 18. The order is available at https://is.gd/sQIdSN from PacerMonitor.com. About Southern Tire and Fleet Service Southern Tire and Fleet Service, LLC, a company in Jacksonville, Florida, provides tire sales and services, emergency roadside assistance, and fleet maintenance for trucks and trailers, including tire repair, brake services, hubs, and wheel seals. Southern Tire and Fleet Service filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-04762) on December 23, 2025, with $256,751 in assets and $1,160,257 in liabilities. Jason Cobb, member, signed the petition. Judge Jason A. Burgess oversees the case. The Debtor tapped Thomas Adam, Esq., at Adam Law Group, PA as counsel and William G. Haeberle, CPA, PLLC as accountant. SPARHAW LLC: To Sell Trucks & Trailers to CB Leasing for $950K -------------------------------------------------------------- Sparhawk LLC and its affiliate, Sparhawk Trucking, Inc., seeks permission from the U.S. Bankruptcy Court for the Western District of Wisconsin, to sell trucks and trailers, free and clear of liens, claims, interests, and encumbrances. The Debtors operate a transportation and logistical business. The Debtors have trailers and trucks that they no longer need to operate their business. To reduce secured debt and lower operating expenses, the Debtors have determined that they can sell excess trucks and trailers. The Bank has liens on all trucks and trailers that are affected by this motion. Prior to the Petition Date, the Bank had been urging the Debtors to sell trucks and trailers to reduce the Bank's claim. In the Debtors' opinion, the Bank sold some trucks and trailers at an auction that resulted in sales prices considerably lower than fair market value. The Debtors believe that the maximum value of trucks and trailers that are no longer needed for the business can be realized by selling them in private sales. The Bank’s claims against Trucking and Sparhawk, LLC are undersecured. Accordingly, only the Bank and the Debtors have an interest in the sale of the trucks and trailers being sold. Pursuant to the motion, the Debtors do not seek to sell trucks and trailers that are owned free and clear or are subject to liens of other creditors. The Debtors entered into the Private Trailer Sale Agreement with the Buyer, CB Leasing, LLC. It is another trucking company in the industry that is unrelated to any of the Debtors and is not an insider. The sale is with a third-party "at arm's length." The purchase price is $950,000.00. As indicated in the Private Trailer Sale Agreement, selling trailers (and trucks) is not a simple matter of transferring titles. The trucks and trailers have markings identifying them as belonging to the Debtors. The markings need to be removed, de-identifying them as belonging to the Debtors. Otherwise, a truck could pull up to a customer of the Debtors and take a load that may result in liability for the Debtors. Additionally, to obtain a maximum value for the trailers, they need to meet U.S. Department of Transportation (DOT) regulations and be in operating condition. To meet DOT regulations and be in operating condition, the Debtors will incur up to $500.00 per trailer or truck to bring them into compliance with DOT regulations and operating condition. Anything over that will be paid by the Buyer directly to T&T. The Bank will still receive the purchase price of $19,000.00 per trailer. The Debtor will be selling the trailers on a rolling basis as they are ready for sale, such as 4 to 6 at a time. A bill of sale will be given for each sale, the proceeds will be electronically paid to the Bank, and the Bank will release its liens on the trailers sold. The Debtors believe they can obtain the highest price if a truck or trailer can be sold as soon as it is de-identified and meets DOT regulations and is in good operating condition. Often buyers are looking to fill an immediate need so the ability for a quick sale will yield higher value. The Debtors have a sound business justification for selling the trailers and establishing a procedure to sell excess trucks and trailers in the future. The Debtors seek to rid themselves of unneeded trucks and trailers, and to reduce the claim of the largest creditor in the cases, the Bank, to propose a plan of reorganization. About Sparhawk LLC Sparhawk Trucking, Inc., based in Wisconsin Rapids, Wisconsin, provides full-truckload freight transportation across the United States and operates a fleet of tractors and trailers under federal motor carrier authority. The company transports commercial goods including dry freight and construction materials for a nationwide customer base. Its operations are supported by affiliated entities including Sparhawk, LLC; Sparhawk Properties, LLC; and Sparhawk Truck and Trailer, Inc., which together support trucking operations, equipment management and property holdings related to the groups transportation activities. Founded in 1981, the Sparhawk group operates within the general freight trucking industry in the U.S. Sparhawk LLC and its affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wis. Lead Case No. 26-10527) on March 13, 2026. In the petitions were signed by Mark A. Sparhawk, sole member, Sparhawk LLC disclosed up to $10 million in both assets and liabilities. Judge Catherine J. Furay oversees the cases. Jerome R. Kerkman, Esq., at Kerkman & Dunn represents the Debtors as counsel. SPIRIT AIRLINES: US Trustee Objects to Disclosure, Seeks More Info ------------------------------------------------------------------ Emlyn Cameron of Law360 reports that the U.S. Trustee's Office has objected to Spirit Airlines' request to send its Chapter 11 plan out for creditor voting, telling a New York bankruptcy judge that the accompanying disclosure statement is inadequate. The trustee argued that the current document fails to meet the Bankruptcy Code's standards for "adequate information." In its objection, the trustee pointed to gaps in the company’s disclosures, including limited detail on financial forecasts, creditor recoveries, and the feasibility of the proposed plan. Without this information, creditors may not be able to properly evaluate the merits of the restructuring proposal. The trustee is seeking an order requiring Spirit Airlines to enhance its disclosure materials before any vote can proceed. The outcome of the objection could delay the company's efforts to secure approval of its reorganization plan, the report states. About Spirit Airlines Spirit Airlines, LLC (SAVE) is a low-fare carrier committed to delivering the best value in the sky by offering an enhanced travel experience with flexible, affordable options. Spirit serves destinations throughout the United States, Latin America and the Caribbean with its Fit Fleet, one of the youngest and most fuel-efficient fleets in the U.S. On the Web: http://wwww.spirit.com/ Spirit Airlines and its affiliates sought Chapter 11 protection (Bankr. S.D.N.Y. Case No. 24-11988) on Nov. 18, 2024, after reaching terms of a pre-arranged plan with bondholders. At the time of the filing, Spirit Airlines reported $1 billion to $10 billion in both assets and liabilities. Judge Sean H. Lane oversees the case. The Debtors tapped Davis Polk & Wardwell, LLP as legal counsel; Alvarez & Marsal North America, LLC, as financial advisor; and Perella Weinberg Partners LP as investment banker. Epiq Corporate Restructuring, LLC, is the claims agent. Paul Hastings, LLP and Ducera Partners, LLC serve as legal counsel for the Ad Hoc Group of Convertible Noteholders. Akin Gump Strauss Hauer & Feld, LLP and Evercore Group LLC represent the Ad Hoc Group of Senior Secured Noteholders. The official committee of unsecured creditors retained Willkie Farr & Gallagher LLP as counsel. Citigroup Global Markets, Inc., is serving as financial advisor and Latham & Watkins LLP is serving as legal counsel to Frontier. 2nd Attempt Spirit Airlines and its affiliates sought Chapter 11 protection (Bankr. S.D.N.Y. Case No. 25-11896) on August 29, 2025. In its petition, the Debtors reports estimated assets and liabilities between $1 billion and $10 billion each. Honorable Bankruptcy Judge Sean H. Lane handles the case. The Debtor is represented by Marshall Scott Huebner, Esq. and Darren S. Klein, Esq. at Davis Polk & Wardwell LLP. SPOKANE INDUSTRIES: Gets Final OK to Obtain DIP Financing --------------------------------------------------------- A U.S. bankruptcy judge granted Spokane Industries, LLC final approval to obtain debtor-in-possession financing to get through bankruptcy. In his final order, Judge Frederick Corbit of the U.S. Bankruptcy Court for the Eastern District of Washington, said the Debtor's decision to enter into the DIP loan with Patrick Turner "reflects a valid and sound exercise of business judgment." "The DIP loan is necessary to preserve going-concern value, is on the best terms available, and is in the best interests of the estate and its creditors," Judge Corbit said. According to the bankruptcy judge, the DIP loan has been fully disclosed to the court and concerned parties and does not involve fraud, collusion, or any attempt to take grossly unfair advantage of other creditors. "Turner has acted in good faith within the meaning of 11 U.S.C. Sec. 364(e)," Judge Corbit said. Mr. Turner, the Debtor's principal, has committed to provide $1 million in unsecured credit with no collateral or fees. This amount includes the $250,000 loaned by Mr. Turner on March 13 as authorized by the court. The DIP loan carries interest at the federal judgment interest rate, currently about 4.21 percent annually. Repayment would not begin for 12 months after court approval, after which the principal and interest would be repaid through 48 monthly payments. The loan matures on December 31, 2030, or upon confirmation of a Chapter 11 plan proposed by someone other than the Debtor; sale of most of the company's assets; appointment of a trustee; or conversion of the company's Chapter 11 case to Chapter 7 liquidation. The loan obligation will constitute an allowed administrative expense claim under 11 U.S.C. Sec. 503(b)(1), provided that such claim will be subordinate to all other claims entitled to priority under 11 U.S.C. Sec. 507(a)(2) of the Bankruptcy Code. The DIP loan has no effect on Mr. Turner's pre-bankruptcy claims against the Debtor. A copy of the Court's Order dated March 31, 2026, is available at http://urlcurt.com/u?l=R15583from PacerMonitor.com. About Spokane Industries LLC Spokane Industries, LLC operates a foundry in Spokane Valley, Washington, producing castings for the mining industry and employing more than 100 steel workers while selling products to customers worldwide. Spokane Industries sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Wash. Case No. 26-00116) on January 23, 2026, with $9,872,078 in assets and $19,854,752 in liabilities. The petition was signed by Patrick Turner as managing member. Judge Frederick P. Corbit oversees the case. The Debtor is represented by Thomas A. Buford, Esq., at Bush Kornfeld, LLP. Jonas Anderson, Acting U.S. Trustee for Region 18, appointed an official committee to represent unsecured creditors in the Debtor's Chapter 11 case. Schwabe, Williamson & Wyatt, P.C. is the committee's legal counsel. STEVE CLARK: Seeks to Extend Plan Exclusivity to June 8 ------------------------------------------------------- Steve Clark Drywall, Inc., asked the U.S. Bankruptcy Court for the District of Maryland to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to June 8 and Aug. 7, 2026, respectively. The Debtor continues in possession of its property and manages its affairs as debtor in possession pursuant to Sections 1107-1108 of the Bankruptcy Code. The Debtor is a drywall contractor engaged in the commercial and residential sales and installation of large drywall projects. The Debtor explains that the company, and its principal Mr. Steven Riley Clark, have judgments and contract liabilities which are subject to guarantees and have numerous cross liabilities the advancement of which caused this Chapter 11 case, and a case filing in this district by Mr. Clark as an affiliate of this Debtor on April 1, 2026. In addition, there will be a forthcoming Motion for Joint Administration or a Complaint for Substantive Consolidation in the very near term as to these two cases. A reassignment motion of this affiliate case for Mr. Clark is forthcoming to this division and before the bankruptcy judge who is administering the present Chapter 11 case. The Debtor asserts that substantial reworking of various liabilities for treatment in a forthcoming Chapter 11 Plan will be ongoing with the creditor constituency. The Debtor has been the source of Mr. Clark's revenues and a sizeable majority portion of the Debtor's claims are reflected against Mr. Clark as well. The Debtor further asserts that it needs time to source its additional income options and to reduce uncertainties as to sources of new work for the forthcoming Plan of Reorganization. Claims objections will likely be forthcoming to bring to a certainty the Plan base for treatment. Mr. Clark's case has very similar work and required steps. Steve Clark Drywall Inc. is represented by: John D. Burns, Esq. THE BURNS LAW FIRM, LLC 6303 Ivy Lane, Suite 102 Greenbelt, MD 20770 Tel: (301) 441-8780 Email: info@burnsbankruptcyfirm.com About Steve Clark Drywall Inc. Steve Clark Drywall, Inc. provides drywall, ceiling, and plaster contracting services, including installation and repair, for commercial and residential construction projects. Steve Clark Drywall filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Md. Case No. 25-21471) on December 8, 2025, listing up to $50,000 in assets and $1 million to $10 million in liabilities. Steven Riley Clark, president of Steve Clark Drywall, signed the petition. Judge Lori S Simpson presides over the case. John D. Burns, Esq., at The Burns Law Firm, LLC, serves as the Debtor's bankruptcy counsel. STG LOGISTICS: Disclosure Statement Wins Conditional OK ------------------------------------------------------- The Hon. Mark E. Hall of the U.S. Bankruptcy Court for the District of New Jersey conditionally approved the adequacy of the First Amended Disclosure Statement explaining the First Amended Joint Plan of Reorganization of STG Logistics, Inc. and its debtor affiliates. The Disclosure Statement, substantially conditionally approved as providing Holders of Claims entitled to vote on the Plan adequate information, within the meaning of section 1125(a)(1) of the Bankruptcy Code, to make an informed decision as to whether to vote to accept or reject the Plan. The Disclosure Statement (including all applicable exhibits thereto) provides Holders of Claims and Equity Interests, and other parties in interest with sufficient notice of the injunction, exculpation, and release provisions contained in Article IX of the Plan, in satisfaction of the requirements of Bankruptcy Rules 2002(c)(3) and 3016(b) and (c). The following Confirmation Dates are established (subject to modification as necessary) with respect to the solicitation of votes to accept the Plan, voting on the Plan, and confirming the Plan: Voting Record Date - April 8, 2026 Solicitation Packages Mailing Deadline - Three (3) business days following entry of the Order (or as soon as reasonably practicable thereafter) Publication Deadline - Three (3) business days following entry of the Order (or as soon as reasonably practicable thereafter) Initial Plan Supplement Deadline - May 8, 2026, at 11:59 p.m., prevailing Eastern Time Voting and Opt-Out Deadline - May 15, 2026, at 5:00 p.m., prevailing Eastern Time Confirmation Objection Deadline - May 15, 2026, at 5:00 p.m., prevailing Eastern Time Voting Report Deadline - May 18, 2026, at 11:59 p.m., prevailing Eastern Time Confirmation Brief and Objection Reply Deadline - Two (2) calendar days prior to the Confirmation Hearing Date Confirmation Hearing Date - May 22, 2026, at 10:00 a.m., prevailing Eastern Time or such other date as may be scheduled by the Court A copy of the Court's Order dated April 15, 2026, is available at http://urlcurt.com/u?l=gNkTMufrom PacerMonitor.com. About STG Logistics STG Logistics Inc. is a North American logistics and supply chain solutions provider, known as the largest fully integrated port-to-door service provider in the United States and Canada. STG Logistics and several affiliated entities sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Lead Case No. 26-10258) on January 12, 2026. In its petition, STG Logistics listed up to $10 billion in both assets and liabilities. The Honorable Bankruptcy Judge Mark Edward Hall handles the cases. The Debtors tapped Kirkland & Ellis LLP as general bankruptcy counsel; Cole Schotz P.C. as local bankruptcy counsel; AlixPartners, LLP as financial advisor; PJT Partners, LP as investment banker; KPMG, LLC as tax service provider; Gordon Brothers Realty Services, LLC as real estate consultant and advisor; and Epiq Corporate Restructuring, LLC as claims, noticing, and solicitation agent and administrative advisor. White & Case, LLP serves as independent counsel to Reception Holdings, L.P., Reception Mezzanine Holdings, LLC, and Reception Purchaser, LLC, acting at the direction of each of the special committees. Wilmington Savings Fund Society, FSB serves as agent for the DIP lenders and is advised by ArentFox Schiff. The ad hoc group of existing lenders is represented by Gibson, Dunn & Crutcher, LLP as legal counsel and Evercore Group, LLC as financial advisor. White & Case, LLP serves as counsel to the special committee of STG Logistics' board of managers. The U.S. Trustee for Regions 3 and 9 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The committee tapped McDermott Will & Schulte, LLP and Kelley Drye & Warren, LLP as legal counsel; and Province, LLC as financial advisor. STRUCTURLAM MASS: Court Tosses Hooper, et al. Adversary Case ------------------------------------------------------------ Judge Craig T. Goldblatt of the U.S. Bankruptcy Court for the District of Delaware will dismiss the adversary proceeding captioned as HEATHER L. BARLOW, AS LIQUIDATING TRUSTEE OF THE STRUCTURLAM LIQUIDATING TRUST, Plaintiff, v. BRIAN HOOPER, CINDI MARSIGLIO, and CHRISTINE ALLEN, Defendants, Adv. Proc. No. 25-51040 (Bankr. D. Del.) for lack of subject-matter jurisdiction. Structurlam Mass Timber manufactured a type of engineered wood. The debtors entered into a substantial contract to supply Walmart with its wood product for use in the construction of Walmart's new home office campus in Bentonville, Arkansas. In addition to entering into the agreement for the supply of the debtors' wood products, Walmart (through affiliated companies) also acquired an approximately one-third stake in the equity of debtor SLP Holdings, which was the direct or indirect owner of each of the other debtors. Walmart's equity holdings entitled it to name three of the 11 members of the board of SLP Holdings. Walmart named three of its senior executives to those board positions: Brian Hooper, Cindi Marsiglio, and Christine Allen. Disputes arose over the parties' performance under the contract, ultimately leading to the debtors filing these bankruptcy cases. In addition to filing a separate lawsuit against Walmart alleging that Walmart breached its contractual obligations to the debtors, Heather Barlow, the trustee of the post-confirmation liquidating trust, also filed this adversary proceeding against Hooper, Marsiglio, and Allen. She alleges that defendants, while serving simultaneously as senior Walmart executives and members of the SLP Holdings Board, participated in decisions relating to the relationship between the companies. She argues that their actions and decisions favored Walmart and thus breached the fiduciary duties they owed in their capacities as directors of SLP Holdings. The trustee also asserts that these actions amounted to the tortious interference with the contract between the debtors and Walmart. The defendants moved to dismiss, asserting the trustee failed to state a claim upon which relief can be granted. This Court addressed the question of subject-matter jurisdiction over state-law claims by a post-confirmation liquidating trust in its decision involving the trust's claim against Walmart. Under Resorts International, where the claim arises under state law (rather than the Bankruptcy Code), and is not asserted until after confirmation, subject-matter jurisdiction depends on a "closes nexus" to the plan. Judge Goldblatt holds, "The central event in the bankruptcy case was the sale of the debtors' assets. The plan is primarily about distributing those sale proceeds to creditors. While the plan also established a trust to pursue estate causes of action, the claim against the company's former directors is no more than incidental to the plan itself. That is insufficient to establish a close nexus. The action will therefore be dismissed for want of subject-matter jurisdiction." A copy of the Court's Memorandum Opinion dated April 6, 2026, is available at http://urlcurt.com/u?l=XdDpTXfrom PacerMonitor.com. About Structurlam Mass Timber U.S. Structurlam Mass Timber U.S., Inc. -- http://structurlam.com/-- is a North American provider of mass timber solutions for construction and industrial markets in Canada and the U.S. Established in 1962, Structurlam is based in Penticton, British Columbia and has mass timber production facilities in Canada and the U.S. After reaching a deal with Mercer International Inc. to sell assets in British Columbia and Arkansas for US$60 million, Structurlam and certain of its affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case No. 23-10497) on April 21, 2023. The Debtors also have sought recognition of the Chapter 11 proceedings in the Supreme Court of British Columbia. Structurlam Mass Timber estimated assets and debt of $100 million to $500 million as of the bankruptcy filing. Judge Craig T. Goldblatt oversees the Debtors' Chapter 11 cases. The Debtors tapped Chipman Brown Cicero & Cole, LLP and Potter Anderson Corroon, LLP as bankruptcy counsels; Paul Hastings, LLP as special counsel; Gowling WLG as Canadian counsel; Alvarez & Marsal Canada, Inc. as financial advisor; and Stifel, Nicolaus & Company, Incorporated and Miller Buckfire & Co., LLC as investment bankers. Kurtzman Carson Consultants, LLC is the claims and noticing agent and administrative advisor. The U.S. Trustee for Regions 3 and 9 appointed an official committee of unsecured creditors in the Debtors' Chapter 11 cases. The committee hired Buchalter, P.C. and Morris, Nichols, Arsht & Tunnell, LLP as bankruptcy counsels; Goodmans, LLP as Canadian counsel; and Dundon Advisers, LLC as financial advisor. STUDIO CHIQUE: 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 Studio Chique A Full Service Salon, LLC. 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 Studio Chique A Full Service Salon LLC Studio Chique A Full Service Salon, LLC, doing business as Studio Chique Luxury Salon & Wellness Spa, operates a beauty and wellness spa in Washington, DC, offering hair care, nail services, skincare, waxing, massage, body contouring and scalp treatments. Founded by Ngina Thomas, the company specializes in alopecia extension installations and corrective hair care, providing head spa services focused on scalp therapy and overall hair health. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.D.C. Case No. 26-00154) on March 31, 2026, with $1,083,740 in assets and $1,083,740 in liabilities. Ngina L. Thomas, owner, signed the petition. Judge Elizabeth L. Gunn presides over the case. Frank Morris II, Esq., at The Law Offices of Frank Morris II represents the Debtor as bankruptcy counsel. SUPERIOR FAMILY: Seeks to Sell 4700 Box Truck at Auction -------------------------------------------------------- Superior Family Investments Corp. seeks approval from the U.S. Bankruptcy Court for the Western District of Missouri, to sell Property at auction, free and clear of liens, claims, interests, and encumbrances. The Debtor owns a 1998 International 4700 box truck. The vehicle is not secured by a lien. The box truck's approximate value is $5,000 in its present condition. The box truck is located at Storage of Mid-America. The same storage unit also contains an RV that is owned by Debtor. Debtor is paying storage fees for both vehicles. Prior to bankruptcy case filing, Debtor placed the box truck for sale on Purple Wave Auction. Purple Wave Auction is a company in Manhattan, KS that conducts auctions. The vehicle has not been sold yet. Debtor does not know the exact amount it will receive through the auction. Debtor moves for permission to sell the box truck through Purple Wave Auction. The motion does not prejudice any parties. The box truck provides little to no value to the estate and is instead a detriment because it requires monthly storage fees. Furthermore, the vehicle is uninsured. Also, Debtor is not currently generating revenue and any funds obtained from the sale would benefit Debtor going forward. About Superior Family Investments Corp. Superior Family Investments Corp. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Mo. Case No. 26-50082) on March 11, 2026, with $500,001 to $1 million in assets and liabilities. Judge Cynthia A. Norton presides over the case. Gary Mardian, Esq. at Wiesner & Frackowiak, L.C. represents the Debtor as legal counsel. SURVWEST LLC: Unsecureds Will Get 29% to 55% in Trustee's Plan -------------------------------------------------------------- Matthew Brash, the Chapter 11 Trustee for SurvWest LLC, filed with the U.S. Bankruptcy Court for the District of Colorado a Disclosure Statement describing Plan of Reorganization for the Debtor dated April 7, 2026. The Debtor provides surveying, mapping, subsurface utility engineering and utility coordination services in support of architectural design, engineering, construction and real estate projects for clients primarily in Colorado. There are 42 Unsecured Claims in the total filed and scheduled in the amount of $11,965,447.00. Claims filed by former employee/officers Dallas Wilson, Philip Stach, and Travis Looney in the aggregate amount of $6,754,972.81. The Claims were the subject of an arbitration that was pending on the Petition Date. The Claims are both disputed and unliquidated. In particular, $5,080,483.64 of the filed Claims constitute derivative claims constituting treble damages for alleged theft of company profits. The Trustee asserts that Holders of these Claims lack standing to assert derivative claims and that the damages are overstated. Claims filed by MCA Lenders in the aggregate amount of $559,075.00. With the exception of Symplifi's Claim, which has been allowed pursuant to Court order, the Debtor asserts each of the MCA Lenders' loans is usurious and unenforceable. The Debtor continues to review Claims filed and scheduled in the Chapter 11 Case and reserves all rights to modify this disclosure. If the Claims identified above are all disallowed, Allowed Unsecured Claims would total $6,325,888, resulting in Allowed Unsecured Creditors receiving 55% of their Claims in distributions under the Plan. The Trustee and Symplifi reached a settlement agreement that was approved by the Court on January 12, 2026. Under the settlement, Symplifi released its UCC lien holds on the prepetition amounts due and owing the Debtor; the Trustee and Symplifi agreed to split the amounts collected as a result of the release with the Debtor receiving 65% and Symplifi receiving 35%. In addition, the remainder of Symplifi's claim is an Allowed Unsecured Claim against the Estate. The Plan provides for the continued operation of the Debtor, payments as required under the Bankruptcy Code to the Holders of Allowed Administrative Claims, Priority Claims, Priority Tax Claims, and Secured Claims, and payments of 75% of the Debtor's Net Profits over a five-year period to the Holders of Allowed Unsecured Claims. As set forth in the projections, the Trustee projects that the Reorganized Debtor will distribute approximately $3.5 million to the Holders of Allowed Unsecured Claims over the life of the Plan. The Trustee anticipates that Allowed Unsecured Claims will be paid 29 to 55% of their Claims depending on whether certain Unsecured Claims are disallowed; provided, however, if the Reorganized Debtor is able to materially increase its revenues, the percentage being distributed to the holders of Allowed Unsecured Claims may be much higher. Class 6 consists of General Unsecured Claims. The Holders of Allowed Class 6 Claims shall be paid their Pro Rata share of the Reorganized Debtor's Net Profits Fund, after payment in full of Allowed Claims of a higher priority (including Allowed Administrative Claims, Allowed Priority Claims, and Allowed Priority Tax Claims), on a quarterly basis for 20 quarters beginning after the first full calendar quarter after the Effective Date. Distributions to Class 6 claimants shall not exceed the amount of the Allowed Unsecured Claims. The Trustee anticipates that unsecured creditors shall receive 29 to 55% on account of their Allowed Unsecured Claims, depending upon the amount of revenues derived from the Reorganized Debtor's operations and the Reorganized Debtor's disallowance of certain of the filed Claims. This Class is impaired. The claims of Equity Interest Holders are treated under Class 7 of the Plan. If Class 6 votes in favor of the Plan, the holders of Equity Interests shall retain their interests. If Class 6 votes against the Plan, on the Effective Date, existing shares of the Debtor shall be cancelled. On the Effective Date, 100% of the common stock of the Reorganized Debtor shall be issued to Mathew Barr in satisfaction of $50,000 of the amount lent to the Debtor pursuant to the approved Debtor-in-Possession Loan Agreement. Payments due under the Plan will be made from cash generated from the Reorganized Debtor's post-Confirmation operations. Administrative Claims and Priority Tax Claims shall be paid on the Effective Date of the Plan or as otherwise agreed by the Holder of the Claim. Secured Claims will be paid. Payments to the Holders of Unsecured Creditors will be funded with 75% of monies deposited in the Net Profits Fund for a period of five years. A full-text copy of the Disclosure Statement dated April 7, 2026 is available at https://urlcurt.com/u?l=26Fda5 from PacerMonitor.com at no charge. Counsel to the Chapter 11 Trustee: Jennifer Salisbury Markus Williams Young and Hunsicker LLC 1775 Sherman Street, Suite 1950 Denver, CO 80203 Tel: (303) 830-0800 Fax: (303) 830-0809 Email: jsalisbury@markuswilliams.com About SurvWest, LLC SurvWest LLC, formerly known as SurvTech Solutions LLC, is a diversified engineering firm specializing in surveying and mapping; subsurface utility engineering (SUE); and utility coordination for clients across the United States. SurvWest filed Chapter 11 petition (Bankr. D. Colo. Case No. 24-15214) on September 6, 2024, with total assets of $7,301,456 and total liabilities of $9,447,402. Mathew Barr, president, signed the petition. Judge Thomas B. Mcnamara handles the case. David Wadsworth, Esq., at Wadsworth Garber Warner Conrardy, P.C. is the Debtor's legal counsel. TBK Bank is represented by: Duncan E. Barber, Esq. Otteson Shapiro, LLP 7979 E. Tufts Avenue, Suite 1600 Denver, CO 80237 Tel: (720) 488-0220 Fax: (720) 488-7711 E-mail: dbarber@os.law SWIFTSHIPS LLC: U.S. Trustee Appoints Creditors' Committee ---------------------------------------------------------- David Asbach, Acting U.S. Trustee for Region 5, appointed an official committee to represent unsecured creditors in the Chapter 11 case of Swiftships, LLC. The committee members are: 1. Consolidated Electrical Distributors doing business as I.C. Electric Supply 3321 Westbank Expressway Harvey, LA 70058 Dawn.Hahn@ced.com 985-809-8851 2. AIT Machine, LLC Michael Rodrigue 209 Venture Blvd. Houma, LA 70360 Mike@AITMachine.com 985-665-7703 Official creditors' committees serve as fiduciaries to the general population of creditors they represent. They may investigate the debtor's business and financial affairs. Committees have the right to employ legal counsel, accountants and financial advisors at a debtor's expense. About Swiftships LLC Swiftships, LLC designs, builds and supports military and commercial vessels, providing shipbuilding, engineering, system integration, co-production, maintenance, repair and overhaul, and service life extension services for naval and government clients worldwide. Founded in 1942 and based in Chantilly, Virginia, the company has constructed more than 1,000 vessels and provides life-cycle sustainment, follow-on technical support and autonomous solutions to more than 50 operators, with capabilities that include transfer-of-technology, transfer-of-production and fleet management support. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. La. Case No. 26-50237) on March 18, 2026. In the petition signed by Shahraze Shah, manager, the Debtor disclosed $43,004,524 in assets and $26,087,683 in liabilities. Judge John W. Kolwe oversees the case. Ryan J. Richmond, Esq., at Sternberg, Naccari & White, LLC, represents the Debtor as legal counsel. SWING ZONE: Gets Interim OK to Use Cash Collateral -------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Texas, Houston Division entered an agreed interim order authorizing Swing Zone, Inc. and AJ Reno Enterprises, LLC to use cash collateral. Under the order, the Debtors may use cash collateral in accordance with approved budgets, with a permitted 10% weekly variance. However, each Debtor's authority to use cash collateral will automatically terminate if its bank balance falls below $1.00, unless further Court approval is obtained. As adequate protection, secured creditors TNB or the U.S. Small Business Administration are granted replacement liens on post-petition assets, maintaining the same priority as their prepetition liens. They are also entitled to superpriority administrative claims if the replacement liens do not fully protect against any decline in collateral value. The Order preserves all parties' rights to challenge lien validity and the continued use of cash collateral. A final hearing is scheduled for April 21. A copy of the court's order is available at https://shorturl.at/Dm4fb from PacerMonitor.com. About Swing Zone Inc. Swing Zone, Inc., doing business as Crust Pizza Co Heights, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 26-32026) on March 27, 2026. In the petition signed by John M. Reno, managing member, the Debtor disclosed up to $100,000 in assets and up to $10 million in liabilities. Lloyd A. Lim, Esq., at Kean Miller LLP, represents the Debtor as legal counsel. TEDDER INDUSTRIES: Seeks to Extend Plan Exclusivity to July 6 ------------------------------------------------------------- Tedder Industries, LLC, asked the U.S. Bankruptcy Court for the Southern District of Texas to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to July 6 and Sept. 4, 2026, respectively. The Debtor explains that in this Chapter 11 Case, the size and complexity of the debtor's operations warrant an extension of the Exclusive Periods. As illustrated by the Debtor's Summary of Assets and Liabilities for Non-Individuals, the Debtor's liabilities include approximately $24,605,270.49 in secured claims, $655,626.57 in priority unsecured claims, and $1,231,607.98 in general unsecured claims. The requested extension will enable the Debtor to close Sale and to negotiate a consensual exit plan with the Debtor's creditors. The Debtor claims that it has made significant progress in administering this Chapter 11 Case, which supports an extension of the Exclusive Periods. While the Debtor negotiate with its key creditors, it is imperative that the Debtor do so in good faith without the looming exclusivity deadline threatening creditor cooperation in the negotiation process. The Debtor cites that it requires additional time to try to negotiate a plan that will provide a recovery to its creditor constituencies and, if successful, to solicit its acceptance, and its progress in working with key stakeholders in this Chapter 11 Case supports the requested extension of the Exclusive Periods. The Debtor asserts that it has continued to pay its postpetition obligations in the ordinary course of business and continues to monitor liquidity closely. Additionally, the Debtor's secured lender has agreed to extend the Debtor's access to its cash collateral as needed to allow the Debtor to fully close this Chapter 11 Case. Accordingly, the Debtor is confident that sufficient funding will be available during the requested extension of the Exclusive Periods. The Debtor further asserts that extending the Exclusive Periods is beneficial to all parties in interest because such requested extensions prevent the unnecessary draining of time and resources typically associated with consideration of competing plans. The Debtor seeks to maintain exclusivity so that parties with competing interests do not impede the Debtor's efforts to obtain stakeholder support for a value-maximizing chapter 11 plan. All parties in interest in this Chapter 11 Case will benefit from the continued stability and predictability that a centralized plan process provides, which can only occur while the Debtor retains the exclusive rights to propose and solicit a plan. Additionally, the Debtor continues to pay its postpetition debts as they become due, and this Motion is not filed for purposes of delay. Rather, the Motion is filed to allow the Debtor an opportunity to further develop a chapter 11 plan that is favorable with major stakeholders. The requested extensions are reasonable and realistic in light of the circumstances of this Chapter 11 Case. Tedder Industries, LLC is represented by: Jeff P. Prostok, Esq. Mary Taylor Stanberry, Esq. Vartabedian Hester & Haynes LLP 301 Commerce Street, Suite 2200 Fort Worth, TX 76102 Tel: (817) 214-4990 Emails: jeff.prostok@vhh.law mary.stanberry@vhh.law Candice M. Carson, Esq. J. Blake Glatstein, Esq. VARTABEDIAN KATZ HESTER & HAYNES LLP 2200 Ross Avenue, Suite 4200W Dallas, Texas 75201 Telephone: (469) 654-1340 Email: candice.carson@vkhh.com blake.glatstein@vkhh.com About Tedder Industries, LLC Tedder Industries, LLC is a Texas limited liability company with a principal place of business in Idaho that operates a consumer brand manufacturing business in the firearms and accessories market, producing American-made injection-molded gun holsters for institutional purchasers, B2B partners, and direct-to-consumer channels. The company conducts business in the marketplace under the name Alien Gear Holsters and manufactures various holster types, including hybrid and modular designs, for concealed-carr users and other end markets. Tedder supplies its products to U.S. military branches, international militaries, defense organizations, and law-enforcement agencies. Tedder Industries sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 25-90805) on December 8, 2025, listing between $10 million and $50 million in both assets and liabilities. Thomas Magrath, president of Tedder Industries, signed the petition. Judge Alfredo R. Perez oversees the case. Jeff Protok, at Vartabedian Hester & Haynes, LLP, is the Debtor's legal counsel. Main Street Capital Corporation, as lender, is represented by Joshua W. Wolfshohl, Esq., and Joanna D. Caytas, Esq., at Porter Hedges, LLP, in Houston, Texas. TERRASTRAT GROUP: Seeks Cash Collateral Access ---------------------------------------------- TerraStrat Group, LLC asks the U.S. Bankruptcy Court for the Southern Disrict of Ohio, Eastern Division, for authority to use cash collateral and provide adequate protection. Earlier in the case, the court approved both interim and final orders permitting the use of cash collateral and providing adequate protection to creditors. The Debtor now requests an extension of that authority through the week of June 29, in accordance with a revised budget that outlines anticipated receipts and necessary expenditures. The Debtor emphasizes that continued access to cash collateral is essential to fund day-to-day business operations, cover administrative expenses, and ultimately achieve its restructuring objectives. The overarching goal of the Chapter 11 case is to reorganize both secured and unsecured debt in a manner that maximizes returns to creditors while preserving the business as a going concern. The Debtor acknowledges that its secured lenders—identified as Rapid Financing and Everest Business Funding—have not consented to continued use of the cash collateral. Nevertheless, the Debtor argues that adequate protection will be provided through multiple means, including strict adherence to the revised budget, periodic payments to the secured lenders, and the granting of replacement liens that mirror the scope of the lenders’ prepetition security interests. The Debtor further contends that the proposed budget is reasonable, feasible, and based on the best available financial information, detailing only necessary and ordinary-course expenses required to maintain operations. A copy of the motion is available at https://urlcurt.com/u?l=PrjHu4 from PacerMonitor.com. About Terrastrat Group LLC Terrastrat Group LLC provides consulting and analytics services to financial institutions in the United States, focusing on optimizing branch networks and ATM placement. The Columbus, Ohio-based company delivers data-driven growth strategies that leverage predictive modeling, market analysis, and micromarket optimization to inform decisions on branch consolidation, expansion, and investment prioritization. Its services are tailored to each client's needs, helping banks improve efficiency, reach, and customer retention within their retail footprint. Terrastrat Group LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 25-55664) on December 24, 2025. In its petition, the Debtor reports estimated assets of $100,001 to $1 million and estimated liabilities of $1 million to $10 million. Honorable Bankruptcy Judge Tiffany Strelow Cobb handles the case. The Debtor is represented by Tami Hart Kirby, Esq. of Porter Wright Morris & Arthur LLP. TEXAS INTERNATIONAL: Unsecureds Will Get 100% over 60 Months ------------------------------------------------------------ Texas International Enterprises, Inc., filed with the U.S. Bankruptcy Court for the Southern District of Texas a Combined Disclosure Statement and Plan of Reorganization dated April 7, 2026. The Debtor is a Texas Corporation headquartered in Laredo, Texas. It is in the business of hauling freight over the highways to and from the United States/Mexican Border. The Debtor has 1,115 trucks and 1192 trailers. The owner of the Debtor is Oscar A. Gomez. He has been the president and CEO of the company since its inception in September of 2011. The Debtor has eighteen full-time employees including its Chief Financial Officer Mr. Jose Gonzalez who is responsible for maintaining the books and records of the Debtor. The company also uses the services of drivers who are independent contractors and outsources 135 administrative employees in Mexico. The Debtor's principal creditor is Commercial Credit Group, Inc., (CCG). Debtor has until recently enjoyed a good relationship with CCG. When Debtor began to not have the cash flow to service its CCG debt, CCG refinanced the debt in an effort to help the Debtor continue its operations. Debtor eventually fell several months behind, and CCG began to repossess its collateral by seizing two trucks on December 6, 2025. The trucks were hauling loads for two of the Debtor’s principal clients. The Debtor feared that more of its trucks would be seized and more of its customers would lose or not receive their loads, thereby causing greater liability for Debtor. The Debtor believes there is sufficient equity in the company, and enough business with sufficient income for it to reorganize and pay all the allowed claims against it in a reasonable time. For these reasons, the Debtor availed itself of this Court's jurisdiction and bankruptcy protection. Class 19 consists of General Unsecured Claims. The Plan proposes to pay the CCG unsecured indebtedness ($12,113,570) in full in sixty months. The balance of the unsecured debt ("Non-CCG Unsecured Debt") is $4,426,132.12. Debtor will pay the Non-CCG Unsecured Debt by paying $10,000.00 per month for 60 months to be shared pro-rata by the non-CCG unsecured creditors. During the 60 months Debtor will sell the Yellow Titled trucks and construction equipment and will apply the net proceeds from these sales to the payment of the non-CCG unsecured creditors on a pro-rata basis. If, at the end of the 60 months, any portion of the Non-CCG Unsecured Debt remains unpaid, Debtor will increase the monthly payments to be shared by the unsecured creditors to $15,000.00 until the Non-CCG Unsecured Debt is paid in full. This results in a 100% payment to the non-CCG unsecured creditors. Payments and distributions under the Plan will be funded from the Debtor's cash flow. Debtor's projected cash flow indicates that these amounts will be sufficient to fund the Plan and pay the Debtor's operating expenses and make proposed Plan payments. The Plan Proponent's financial projections show that the Debtor will have an aggregate annual cash flow, after paying operating expenses and post-confirmation taxes, of $10,187,216.25. A full-text copy of the Combined Disclosure Statement and Plan dated April 7, 2026 is available at https://urlcurt.com/u?l=QDFa3i from PacerMonitor.com at no charge. Counsel to the Debtor: Carl M. Barto, Esq. LAW OFFICE OF CARL M. BARTO 817 Guadalupe Laredo, TX 78040 Telephone: (956) 725-7500 Facsimile: (956) 722-7639 E-mail: emblaw@netscorp.net About Texas International Enterprises Texas International Enterprises Inc. operates as a multifaceted company with interests in various commercial and service-based industries. The organization is built on principles of reliability, operational efficiency, and market adaptability. By focusing on sustainable growth and client satisfaction, Texas International Enterprises Inc. continues to strengthen its presence in its respective markets. Texas International Enterprises commenced its Chapter 11 case (Bankr. Case No. 25-50133) on December 6, 2025. In its petition, the Debtor listed estimated assets of $10 million to $50 million and estimated liabilities within the same range. Honorable Bankruptcy Judge Jeffrey P. Norman presides over the matter. The Debtor is represented by Carl M. Barto, Esq. of the Law Office of Carl M. Barto. THREE OAKS: Court Extends Cash Collateral Access to April 30 ------------------------------------------------------------ The U.S. Bankruptcy Court for the Eastern District of North Carolina issued a second interim order allowing Three Oaks Behavioral Health & Wellness, PLLC to continue using cash collateral. Under the second interim order, the Debtor is authorized to use cash collateral through April 30 strictly for necessary operating expenses and only in accordance with a court-approved budget. Any deviation of more than 10% from budgeted line items requires lender approval. The Debtor projects total operational expenses of $387,494.43 for the period from April 4 to 30. Secured lenders will be provided with protection through replacement liens on post-petition assets (such as receivables and proceeds); $5,000 payment to Truist; and access to the Debtor's financial information. While the Debtor temporarily acknowledges the lenders' claims, it preserves the right to later challenge the validity or priority of those liens. The interim order includes a carveout allowing payment of court-approved professional fees free of lender liens. The order also sets clear default provisions and limits. If the Debtor violates the budget, fails to comply with the order, or does not progress toward a reorganization plan, lenders can seek to terminate cash collateral use on expedited notice. A further hearing is scheduled for April 29. The order is available at https://is.gd/zFf74C from PacerMonitor.com. About Three Oaks Behavioral Health & Wellness Based in Raleigh, North Carolina, Three Oaks Behavioral Health & Wellness, PLLC operates multiple clinics in the Raleigh-Durham area providing individual, family, and couples therapy, psychological assessments, and specialized programs such as Eye Movement Desensitization and Reprocessing and Dialectical Behavior Therapy, focusing on evidence-based, client-centered care for emotional, psychological, and relational needs. Three Oaks Behavioral Health & Wellness, PLLC in Raleigh, NC, sought relief under Chapter 11 of the Bankruptcy Code filed its voluntary petition for Chapter 11 protection (Bankr. E.D.N.C. Case No. 26-01207) on March 16, 2026, listing $424,587 in assets and $3,045,036 in liabilities. Casie Hall as manager, signed the petition. Judge Joseph N. Callaway oversees the case. HENDREN, REDWINE & MALONE, PLLC serve as the Debtor's legal counsel. THUY & BACH-YEN: Bankruptcy Administrator Cannot Appoint Committee ------------------------------------------------------------------ The U.S. Bankruptcy Administrator for the Eastern District of North Carolina disclosed in a filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Thuy & Bach-Yen, Inc. About Thuy & Bach-Yen Inc. Thuy & Bach-Yen, Inc. is a North Carolina corporation owned by Thuy Nguyen and Bach-Yen Nguyen and operates Glow Nail Spa in Morrisville, North Carolina. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.C. Case No. 26-00971-5-PWM) on March 3, 2026. In the petition signed by Ben Nguyen, representative, the Debtor disclosed up to $100,000 in assets and up to $500,000 in liabilities. Judge Pamela W. McAfee oversees the case. Danny Bradford, Esq., at Paul D. Bradford, PLLC, represents the Debtor as legal counsel. THUY & BACH-YEN: Gets Interim OK to Use Cash Collateral ------------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of North Carolina, Raleigh Division, entered a second interim order authorizing Thuy & Bach-Yen, Inc. to continue using cash collateral. The Court allowed the Debtor to use cash collateral in accordance with an approved budget, with a 10% variance permitted on expenditures. The Debtor must deposit all revenues into a DIP account and use those funds solely for ordinary business operations and approved expenses. The Debtor projects total operational expenses of $21,391.26 for the period from April 4 to May 13. As adequate protection, the potential secured creditor, including the SBA, is granted a post-petition replacement lien on cash and inventory to the extent of any use of collateral. Additionally, the Debtor must make monthly adequate protection payments of $431.97 beginning this month. The Order imposes reporting and operational requirements, including providing monthly bank statements and restricting asset sales outside the ordinary course. The Debtor's authority to use cash collateral will terminate upon default or cessation of operations. A further hearing on the matter is scheduled for May 13. About Thuy & Bach-Yen, Inc. Thuy & Bach-Yen, Inc. is a North Carolina corporation owned by Thuy Nguyen and Bach-Yen Nguyen and operates Glow Nail Spa in Morrisville, North Carolina. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.C. Case No. 26-00971-5-PWM) on March 3, 2026. In the petition signed by Ben Nguyen, representative, the Debtor disclosed up to $100,000 in assets and up to $500,000 in liabilities. Judge Pamela W. McAfee oversees the case. Danny Bradford, Esq., at Paul D. Bradford, PLLC, represents the Debtor as legal counsel. TM36 LLC: To Sell Pensacola Property to Blackhawk 82nd for $2.2MM ----------------------------------------------------------------- TM36 LLC and its affiliates seek permission from the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor's Property is located at 3984 Barrancas Avenue, Pensacola, Florida (Pensacola Property). The Debtor wants to sell the Pensacola Property to Blackhawk 82nd LLC for a total purchase price of $2,250,000. The proposed sale of the Pensacola Property is not a fully free and clear sale. Rather, in accordance with the terms of the Purchase Agreement and Addendum, the Purchaser has agreed to purchase the Pensacola Property subject to certain outstanding liens and obligations, including ongoing coercive penalties related to building code violations that will burden the Property until remediated post-closing by the Purchaser. In recognition of the Purchaser's agreement to take title subject to and assume responsibility of such liens, the Addendum provides the Purchaser with a $542,000.00 credit against the Purchase Price at closing. The Pensacola Property consists of real property located at 3984 Barrancas Avenue, Pensacola, Florida, legally described as Lots 15 through 28, Block 1, AERO VISTA, Escambia County, Florida. See Purchase Agreement. The Pensacola Property was previously owned by J & K Sai Hospitality, LLC and related parties and encumbered by a mortgage held by Cadence Bank (formerly known as BancorpSouth Bank). Cadence Bank obtained an Amended Summary Final Judgment of Foreclosure dated May 8, 2025, in Case No. 2024 CA 000481, Circuit Court of the First Judicial Circuit in and for Escambia County, Florida. Following the foreclosure judgment, the Pensacola Property was sold at a public foreclosure sale on June 12, 2025. GrayStreet Broadway East LP subsequently acquired the Pensacola Property. Because the Purchaser’s assumption of all such outstanding obligations is a material part of the Purchase Agreement, the Purchaser is to receive a credit against the Purchase Price of $542,000.00 with respect to all liens, code enforcement liens, utility charges and/or any other liens, fines, penalties or other demands or claims. The Debtors request that the Court approve the sale of the Pensacola Property to the Purchaser, partially free and clear of all liens, claim, and encumbrances. About TM36 LLC TM36, LLC StopLoss, LLC, StopLoss Logistics, LLC, StopLoss Specialists, LLC, and StopLoss Response Services, LLC provide emergency response and property restoration services focused primarily on large commercial buildings that have sustained significant disaster or weather-related damage. StopLoss LLC functions as the holding company for StopLoss Response Services, LLC, StopLoss Logistics, LLC, and TM36 LLC, while StopLoss Specialists, LLC holds contractor licenses and enters into project contracts. The subsidiaries support project execution through subcontracted restoration work, equipment logistics and transportation, and ownership of operational equipment. The Debtors sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 26-90386) on March 5, 2026. In the petition signed by Pablo Bonjour, chief restructuring officer, TM36 disclosed up to $10 million in both assets and liabilities. Judge Alfredo R. Perez oversees the cases. The Debtors tapped Aaron J. Power, Esq., at Porter Hedges, LLP, as bankruptcy counsel and Veritas Restructuring Group as financial advisor. TURTLE LANE: Court Asked to Approve Chapter 11 Trustee Appointment ------------------------------------------------------------------ William Harrington, the U.S. Trustee for Region 1, asked the U.S. Bankruptcy Court for the District of Massachusetts to approve the appointment of John Desmond as Chapter 11 trustee for the estate of Turtle Lane, LLC. The U.S. Trustee has consulted with parties-in-interest regarding the appointment of a Chapter 11 trustee including counsel for the Debtor (Christoper Condon, Esq.), counsel for creditor Dedham Institution for Savings (Alan L. Braunstein, Esq.), and counsel for creditor City of Newton (Hanna Redd, Esq.), regarding the appointment. To the best of his knowledge, the U.S. Trustee is not aware that Desmond has any connections with the Debtor, creditors, any other parties in interest, their respective attorneys and accountants, the U.S. Trustee or any persons employed by the U.S. Trustee, except as set forth in Desmond's verified statement. The bankruptcy trustee may retain professionals if he determines that doing so is necessary to discharge his duties, with such retention to be subject to court approval per Section 327 of the Bankruptcy Code. The trustee and any professionals retained by him by order of the court are entitled to compensation and expense reimbursement under Section 330 of the Bankruptcy Code. About Turtle Lane LLC Turtle Lane LLC focuses on real estate operations, primarily offering property-related services. Turtle Lane LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Mass. Case No. 25-11733) on Aug. 21, 2025. In its petition, the Debtor listed assets between $10 million and $50 million and estimated liabilities between $1 million and $10 million. Judge Christopher J. Panos oversees the case. The Debtor is represented by Christopher M. Condon, Esq. at BOWDITCH & DEWEY, LLP. V&H HOLDINGS: Court OKs Interim Use of Cash Collateral ------------------------------------------------------ The U.S. Bankruptcy Court for the Northern District of Texas, Dallas Division, entered an agreed order allowing V&H Holdings, LLC to use its cash collateral to fund business operations. Under the order, the Debtor is authorized to use cash collateral, which consists primarily of operating revenue, strictly in accordance with an approved budget. The Debtor projects total monthly operational expenses of $15,507.41. As adequate protection, Liberty Capital Bank will be granted replacement liens on all post-petition assets, including cash collateral, accounts receivable, contract rights, and deposit accounts, with the same priority as its pre-petition liens. However, these liens explicitly do not attach to Chapter 5 avoidance actions, preserving potential recovery rights for the estate. The order does not determine whether creditors are fully protected and preserves all parties' rights to challenge liens, request additional protections, or object to improper use of funds. The order also establishes a carveout that gives priority to certain administrative expenses, including court fees, U.S. Trustee fees, trustee expenses (capped at $15,000), and approved attorney fees. The Debtor's authority to use cash collateral will terminate automatically upon key events such as case dismissal or conversion to Chapter 7, appointment of a trustee, expiration of the order, or material breach such as failure to follow the budget. The order is available at https://is.gd/MRNauT from PacerMonitor.com. About V&H Holdings LLC V&H Holdings, LLC manages two income-generating properties located at 2906 and 2908 McKinney Avenue in Dallas, Texas, which serve as its sole source of revenue. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 26-30730) on February 23, 2026. In the petition signed by Lawrence Dupler, manager, the Debtor disclosed up to $10 million in both assets and liabilities. Patrick J. Schurr, Esq., at Scheef & Stone, LLP, represents the Debor as legal counsel. VANDERBILT MINERALS: Jones Day Hiring Paused Amid New Evidence -------------------------------------------------------------- Vince Sullivan of Law360 reports that the creditors of bankrupt talc producer Vanderbilt Minerals received approval Tuesday, April 14, 2026, from a New York bankruptcy judge to add new evidence to the record in connection with the debtor’s proposed retention of Jones Day. The request followed concerns about statements made during last week's hearing. The creditors said the additional evidence is aimed at addressing issues related to Jones Day's disclosures, including potential conflicts and prior engagements that may bear on its qualification to serve as counsel. They argued that the information is critical to ensuring compliance with bankruptcy standards. The judge's ruling allows the evidentiary record to be expanded before a final decision is made on the firm's employment. As a result, the court will consider the new materials in determining whether to approve Jones Day's retention, the report states. About Vanderbilt Minerals LLC Vanderbilt Minerals, LLC supplies mineral and chemical products. The Company offers ceramics, clay binders, mineral fillers, floor finishes, paints, concrete, and lubricants. Vanderbilt Minerals serves rubber, plastics, petroleum, paper, pharmaceutical, agricultural, ceramics, adhesives, wire and cable, and cosmetics industries worldwide. Vanderbilt Minerals sought sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-60110 (WAK)) on February 16, 2026) Charles J. Sullivan at Bond, Schoeneck & King, PLLC represents the Debtor as legal counsel. Kurtzman Carson Consultants, LLC (operating as Verita Global, LLC) serves as claims agent. R.T. Vanderbilt Holding Company, Inc. is the sole equity holder, owning 100% of the company. VIEWPOINT AMBULANCE: Files Emergency Bid to Use Cash Collateral ---------------------------------------------------------------- Viewpoint Ambulance Inc. asks the U.S. Bankruptcy Court for the Central District of California, Santa Ana Division, for emergency authority to use cash collateral and provide adequate protection. The company's core business involves non-emergency patient transportation services, particularly Basic Life Support and Critical Care Transport, though it is not a healthcare treatment provider. Its operations are currently halted due to the suspension of its licenses and failure to pay a $92,000 regulatory fine, making the preservation of those licenses—considered its most valuable asset—critical to any successful reorganization or potential sale. The Debtor attributes its financial distress primarily to substantial unpaid payroll tax liabilities owed to the IRS and EDD, including a bank levy by the EDD that disrupted its ability to meet other obligations. Despite this, the Debtor believes it can reorganize or sell its assets, particularly its valuable transport licenses, which it estimates—along with receivables, equipment, and vehicles—at approximately $1 million, compared to total liabilities of around $4 million. As an interim measure, the Debtor proposes a conservative 90-day budget that limits expenditures to essential costs, including about $12,000 per month for minimal operational expenses (such as a contract medical biller, insurance, and office costs) and approximately $6,250 for annual licensing fees. Total projected spending is capped at roughly $42,250–$46,000, with the goal of collecting up to $655,000 in outstanding receivables, most of which are less than 90 days old. The Debtor identifies multiple secured creditors with potential claims on the Debtor's assets, including the IRS (with a statutory lien potentially covering all assets), EDD, and several lenders with UCC filings or claimed interests in receivables or equipment. The Debtor asserts that the limited use of cash collateral will adequately protect secured creditors by preserving and potentially enhancing the value of their collateral through continued management and collection efforts. The Debtor emphasizes that maintaining licensure and collecting receivables are essential to maximizing the estate;s value, whether through reorganization or a going-concern sale to a third party. It also notes that some creditors may consent to the use of cash collateral, while others may object, and anticipates negotiating stipulations before a final hearing. A copy of the motion is available at https://urlcurt.com/u?l=lkGQSD from PacerMonitor.com. About Viewpoint Ambulance Inc. Viewpoint Ambulance Inc. provides ambulance transportation, critical care transport and event standby medic services in Los Angeles County, California. Founded in November 2014 and based in Pomona, the company transports newborns from Pomona Valley Hospital Medical Center NICU, handles organ and tissue transport for OneLegacy and assists West Covina Fire Department in emergency response. Its customers include hospitals, emergency agencies and organizers of schools, construction projects, stadium events and festivals. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-11078) on April 3, 2026. In the petition signed by Shahin Melamed, president, the Debtor disclosed $1,161,291 in assets and $4,840,634 in liabilities. Judge Mark D. Houle oversees the case. Henry D. Paloci III, Esq., at HENRY D. PALOCI III PA, represents the Debtor as legal counsel. VILLAGE HOMES: To Sell Fort Worth Properties to Multiple Buyers --------------------------------------------------------------- Village Homes, L.P., seeks permission from the U.S. Bankruptcy Court for the Northern District of Texas, Fort Worth Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor is a Texas limited partnership formed in 1996. The Debtor's general partner is DH Management, Inc., a Texas corporation, which holds a 1% general partner interest. The Debtor has two limited partners: Michael Dike and James R. Harris. To finance its homebuilding operations, the Debtor maintains various credit and borrowing facilities with several financial institutions, including Simmons Bank. The Lenders are granted liens in the Lots for which they make advances for the acquisition thereof or for construction of homes thereon, or both. The Existing Credit Facilities presently in place ensure that no two Lenders advance funds secured by the same Lots. Thus, as between the Lenders, there are no concerns of competing liens on each Lender’s collateral. The Debtor entered into two separate sale agreements. Both are for sales of completed spec homes. The Debtor seeks entry of an order authorizing the Debtor to sell the two properties, along with all fixtures and improvements. The Debtor entered into a Village Homes Purchase Agreement with two prospective buyers (Roman Mykhailenko and Olena Fortuna) for the sale of a completed home with the street address of 405 Athenia Drive, Fort Worth, Texas 76114. The purchase price of the Property is $429,000. The Debtor entered into a Village Homes Purchase Agreement with a prospective buyer (Making Dough Inc. represented by Charles Singer) for the sale of a completed home with the street address of 407 Athenia Drive, Fort Worth, Texas 76114. The purchase price of the Property is $429,000. The Buyers are not related nor known to the Debtor and its principals prior to the Buyers making the offer to purchase the Properties. The Buyers are not an insider of the Debtor. The Agreements were negotiated between the Debtor and Buyers at arms-length and in good faith. The Buyers are providing value to the estate by paying the Purchase Price as set forth in the Agreements. Therefore, the Buyers are entitled to the protections. The Debtor proposes to sell the Properties free and clear of the liens asserted against the properties in the Athenia DOT. Simmons Bank does not oppose the sale of the Properties and is not opposed to its liens. The 405 Property and the 407 Property are part of the Contract Lots included in VilHom's Lis Pendens. The effectiveness of each the 405 Agreement and the 407 Agreement is expressly conditioned upon the Debtor obtaining an Order from the Court providing for each the 405 Property and 407 Property to be sold free and clear of claims, liens, rights, interests, and Lis Pendens of VilHom. The Debtor and VilHom were involved in litigation prepetition regarding the termination of the Asset Sale Contract. As of the Petition Date, no final judgment has been reached in the State Court Action. The Lis Pendens is of no legal force or effect as to the Athenia Properties because VilHom holds no equitable interest in the Athenia Properties on account of the Asset Sale Contract was validly terminated prepetition. Simmons Bank holds a first priority lien in both Properties, subject only to the liens securing real property taxes. Accordingly, the Debtor seeks the authority to allow the closing agent, at closing of the sale of the 405 and 407 Properties, to pay Simmons Bank in exchange for the bank's release of its lien on the Properties. The Debtor also seeks leave for the closing agent, at the closing of the sale of the Properties, to distribute the sale proceeds to pay the ordinary and necessary costs of sale, including commissions, tax prorations, make-ready costs, and homeowners' warranty premium, tax prorations, make-ready costs, and homeowners' warranty premium costs related to the Property sale. The Debtor believes Simmons Bank consents to the Debtor retaining the net sale proceeds from the closing of the Property sale after payment of the Release Price and after payment of the normal and customary closing costs, and that the Debtor is authorized to use such net proceeds for business operations and administration of the Chapter 11 Case. About Village Homes for Fort Worth Village Homes for Fort Worth was established in 1996 and has grown into a trusted homebuilder in Fort Worth, Texas, known for its inspired designs and dedication to quality. With almost three decades of experience, the company has fulfilled the dreams of over 1,500 homeowners while collaborating closely with the region's top architects, craftsmen, and vendors. KC 117 LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D.Tex. Case No. 25-43782-mxm) on October 1, 2025. Jeff P. Prostok at Vartabedian Hester & Haynes LLP, represents as legal counsel of the Debtor. VINTRENDI WINE: Court Extends Cash Collateral Access to May 28 -------------------------------------------------------------- Vintrendi Wine Company received fifth interim approval from the U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, to use cash collateral to fund operations. The court authorized the Debtor to use cash collateral through May 28 within the budgeted amounts, plus 10% or as agreed by the lien claimants. The lien claimants include the U.S. Small Business Administration, Funding Circle USA, Liberty Bank, WebBank as Shopify, and Byzfunder NY, LLC. As adequate protection, the lien claimants will be granted replacement liens on the cash collateral and all property acquired by the Debtor after the petition date similar to their pre-bankruptcy collateral. These replacement liens will have the same priority and extent as the lien claimants' pre-bankruptcy liens. The next hearing is set for May 27. The deadline for filing objections is on May 22. The interim order is available at https://shorturl.at/izqug from PacerMonitor.com. About Vintrendi Wine Company Vintrendi Wine Company is a wine manufacture in Illinois. Vintrendi sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-18650) on December 4, 2025, with up to $100,000 in assets and up to $1 million in liabilities. Rickey Nesbitt, president of Vintrendi, signed the petition. Judge David D. Cleary oversees the case. Gregory K. Ster, Esq., at Gregory K. Stern, P.C., represents the Debtor as legal counsel. VIVOSIM LABS: Closes Initial $3MM Tranche of Best-Efforts Offering ------------------------------------------------------------------ VivoSim Labs, Inc. disclosed in a regulatory filing that it priced a best efforts public offering of up to 3,508,772 shares of its common stock, par value $0.001 per share, or up to 3,508,772 pre-funded warrants to purchase up to an aggregate of 3,508,772 shares of Common Stock in lieu thereof, together with an aggregate of up to 5,263,159 accompanying common warrants to purchase up to 5,263,159 shares of Common Stock, with each share of Common Stock being sold together with 1.5 Common Warrants to purchase one share of Common Stock and each Pre-Funded Warrant to purchase one share of Common Stock being sold together with 1.5 Common Warrants to purchase one share of Common Stock. The Offering is comprised of two tranches. At the closing of the initial tranche that occurred on April 1, 2026, the Company issued and sold: (i) an aggregate of 286,557 shares of Common Stock, together with an aggregate of 429,836 accompanying Common Warrants to purchase up to an aggregate of 429,836 shares of Common Stock, at a combined public offering price of $1.14 per share of Common Stock and accompanying 1.5 Common Warrants to purchase one share of Common Stock, and (ii) an aggregate of 2,345,022 Pre-Funded Warrants to purchase up to an aggregate of 2,345,022 shares of Common Stock, together with an aggregate of 3,517,533 accompanying Common Warrants to purchase up to an aggregate of 3,517,533 shares of Common Stock, at a combined public offering price of $1.139 per Pre-Funded Warrant and accompanying 1.5 Common Warrants to purchase one share of Common Stock. Each Common Warrant issued in the Initial Tranche has an exercise price of $1.71 per share of Common Stock. Pursuant to the second tranche, if any, purchasers in the Initial Tranche may purchase shares of Common Stock, or Pre-Funded Warrants in lieu thereof, and accompanying 1.5 Common Warrants to purchase one share of Common Stock for each share of Common Stock or Pre-Funded Warrant purchased, for an aggregate purchase price of up to $1,000,000 on the 30th day following the Initial Tranche Closing, subject to the satisfaction of certain conditions, including that: (i) the closing price of the Common Stock on the trading day immediately before the Second Tranche Closing Date must be at least equal to $1.43 (the closing price of the Common Stock on the trading day immediately prior to the day of the Initial Tranche Closing) and (ii) the average daily trading volume of the Common Stock during the 10 consecutive trading days immediately prior to the Second Tranche Closing Date must be at least $100,000. In the Second Tranche, if any, the combined purchase price per share of Common Stock and accompanying 1.5 Common Warrants to purchase one share of Common Stock will be equal to or greater than $1.14, and the combined purchase price per Pre-Funded Warrant and accompanying 1.5 Common Warrants to purchase one share of Common Stock will be equal to or greater than $1.139. In the Second Tranche, each Common Warrant will have an exercise price: (i) equal to 120% of the applicable combined public offering price per share of Common Stock and accompanying 1.5 Common Warrants to purchase one share of Common Stock for the Second Tranche, and (ii) in any event of not less than $1.71 per share of Common Stock. The Common Warrants are immediately exercisable, expire on the fifth anniversary of the original issuance date and have price protection against subsequent dilutive issuances of shares of Common Stock, options, warrants and convertible securities, subject to a $0.01 per share of Common Stock floor, as further described in the Common Warrants. At any time after the Initial Tranche Closing, the holders of the Common Warrants may exchange the Common Warrants on a cashless basis for a number of shares of Common Stock determined by multiplying the total number of shares of Common Stock with respect to which the Common Warrant is then being exercised by the Black Scholes Value (as defined in the Common Warrant) divided by the lower of the two closing bid prices of the Common Stock in the two days prior to the time of such exercise, but in any event not less than $0.01. Under this cashless exercise provision, the number of shares of Common Stock the Company may be required to issue upon a cashless exercise may be significantly greater than the number of shares for which the Common Warrants would otherwise be exercisable. In the Offering, the Company offered to any purchaser whose purchase of shares of Common Stock in the Offering would otherwise result in such purchaser, together with its affiliates and certain related parties, beneficially owning more than 9.99% (or, at the election of the purchaser, 4.99%) of the outstanding Common Stock immediately following the consummation of the Offering, the opportunity to purchase Pre-Funded Warrants, in lieu of shares of Common Stock that would otherwise result in such purchaser's beneficial ownership exceeding 9.99% (or, at the election of the purchaser, 4.99%) of the outstanding Common Stock. The combined public offering price of each Pre-Funded Warrant to purchase one share of Common Stock and accompanying 1.5 Common Warrants to purchase one share of Common Stock is equal to the applicable price at which one share of Common Stock and accompanying 1.5 Common Warrants to purchase one share of Common Stock is sold to the public in the applicable Tranche of the Offering, minus $0.001 (for the Pre-Funded Warrants issued in the Initial Tranche, $1.139 per Pre-Funded Warrant and accompanying 1.5 Common Warrants to purchase one share of Common Stock), and the exercise price of each Pre-Funded Warrant is $0.001 per share. The Pre-Funded Warrants are immediately exercisable and may be exercised at any time until all of the Pre-Funded Warrants are exercised in full. Each Pre-Funded Warrant may be exercised, in cash or, if there is no effective registration statement permitting the issuance or resale of the shares issuable upon exercise of the Pre-Funded Warrant, by a cashless exercise at the election of the holder at any time following the date of issuance and from time to time thereafter until the Pre-Funded Warrants are exercised in full. In connection with the Offering, the Company entered into a Securities Purchase Agreement on March 31, 2026. In connection with the Offering, the Company entered into a Placement Agency Agreement on March 31, 2026, with Joseph Gunnar & Co., LLC, as the exclusive placement agent in connection with the Offering. As compensation to the Placement Agent, the Company agreed to pay the Placement Agent: (i) a cash fee of 7.5% of the aggregate gross proceeds raised in the Offering and (ii) up to 175,439 placement agent warrants to purchase up to 175,439 shares of Common Stock at an exercise price equal to 125% of the applicable combined public offering price per share of Common Stock and accompanying 1.5 Common Warrants to purchase one share of Common Stock for the applicable Tranche. Upon the Initial Tranche Closing, the Company issued 131,579 Placement Agent Warrants to purchase up to 131,579 shares of Common Stock with an exercise price of $1.425 per share of Common Stock. In connection with the Second Tranche, if any, the Company will issue Placement Agent Warrants representing five percent of the shares of Common Stock and/or Pre-Funded Warrants in the Second Tranche, or up to 43,860 Placement Agent Warrants to purchase up to 43,860 shares of Common Stock, and such Placement Agent Warrants will have an exercise price: (i) equal to 125% of the applicable combined public offering price per share of Common Stock and accompanying 1.5 Common Warrants to purchase one share of Common Stock for the Second Tranche and (ii) in any event of not less than $1.425 per share of Common Stock. The representations, warranties and covenants contained in the Purchase Agreement, the Placement Agency Agreement, the Pre-Funded Warrants, the Common Warrants and the Placement Agent Warrants were made only for purposes of such agreements and as of specific dates, were solely for the benefit of the parties to the Purchase Agreement, the Placement Agency Agreement, the Pre-Funded Warrants, the Common Warrants and the Placement Agent Warrants, respectively, and may be subject to limitations agreed upon by the contracting parties. Accordingly, the Purchase Agreement, the Placement Agency Agreement, the Pre-Funded Warrants, the Common Warrants and the Placement Agent Warrants are incorporated herein by reference only to provide investors with information regarding the terms of the Purchase Agreement, the Placement Agency Agreement, the Pre-Funded Warrants, the Common Warrants and the Placement Agent Warrants, and not to provide investors with any other factual information regarding the Company or its business, and should be read in conjunction with the disclosures in the Company's periodic reports and other filings with the Securities and Exchange Commission. The shares of Common Stock, the Pre-Funded Warrants, the Common Warrants and the Placement Agent Warrants described above and the shares of Common Stock underlying the Pre-Funded Warrants, the Common Warrants and the Placement Agent Warrants were offered pursuant to the Registration Statement on Form S-1, as amended (File No. 333-294716), which was declared effective by the Securities and Exchange Commission on March 31, 2026. The Company received net proceeds of approximately $2.5 million from the closing of the Initial Tranche, after deducting the estimated offering expenses payable by the Company, including the Placement Agent fees. The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes, which could include capital expenditures, research and development expenditures, regulatory affairs expenditures, legal expenditures, including intellectual property protection and maintenance expenditures, acquisitions of new technologies and investments and business combinations. Full text copies of the form of Purchase Agreement, the Placement Agency Agreement, the Pre-Funded Warrant, the Common Warrant and the Placement Agent Warrant are available at https://tinyurl.com/yzac5zt4, https://tinyurl.com/yk9bt4es, https://tinyurl.com/2ek9tvev, https://tinyurl.com/ycyx7yat and https://tinyurl.com/yvz62d9x, respectively. About VivoSim Labs Inc. San Diego, Calif.-based VivoSim Labs, Inc., formerly known as Organovo Holdings, Inc., is a pharmaceutical and biotechnology services company that is focused on providing testing of drugs and drug candidates in three-dimensional human tissue models of liver and intestine. As of December 31, 2025, the Company had $6.96 million in total assets, $2.52 million in total liabilities, and $4.44 million in total stockholders' equity. Somerset, New Jersey-based Rosenberg Rich Baker Berman, P.A., the Company's auditor since 2023, issued a "going concern" qualification in its report dated June 5, 2025, attached to the Company's Annual Report on Form 10-K for the year ended March 31, 2025, citing that the Company has incurred recurring losses and negative cash flows from operations and is dependent on additional financing to fund operations. These conditions raise substantial doubt about its ability to continue as a going concern. WESTERN REGIONAL: Unsecureds Will Get 100% of Claims in Sale Plan ----------------------------------------------------------------- Western Regional Properties, LLC filed with the U.S. Bankruptcy Court for the Central District of California a Disclosure Statement describing Plan of Reorganization dated April 7, 2026. The Debtor is a limited liability company organized under the laws of the State of Delaware. It purchased the property at 117 South Westlake Avenue, Los Angeles, California 90057 with the aim of renovating the existing four units and then converting them into four tenancy-in-common properties. Two units were sold prior to this bankruptcy case, one unit was sold in this bankruptcy, and the one remaining units is subject to sale by the Plan of Reorganization proposed herewith. The units have sold for prices between $525,000 and $570,000, and the Debtor expects a sale within this range for unit 119 1/2. The Debtor planned to sell all four of its units as tenancy-in common properties, an arrangement more popular in Northern California, but which is gaining recognition in Southern California. Debtor had an arrangement with a secured lender whereby the first trust deed note would be paid from the sale of units in certain percentages which would pay the note in full by the time of the final sale. The Sale of Unit 119 ½ will pay all claims, and the Debtor will go out of business. This is not a liquidating Plan. In other words, the Proponent, Debtor seeks to accomplish payments under the Plan by selling its assets and using that money to pay its creditors. The Debtor will continue in business, and will continue to pay one of its creditors according to the terms of its agreement. The Effective Date of the proposed Plan is 60 days after entry of the Order Confirming this Plan. Class 3 consists of General Unsecured Claims. The allowed unsecured claims total $31,576. This Class will receive a distribution of 100% of their allowed claims. This Class is unimpaired. Class 5 consists of interest holder Temidayo Akinyemi. Equity holder will retain his interest in the Debtor. The Plan will be funded by the following: Proceeds from the sale of Unit 119 1/2. Temidayo Akinyemi will manage any affairs necessary to proceed with the Plan and make distributions to creditors, and will thereafter conduct any and all business affairs of the reorganized Debtor. Since the Plan contemplates a complete liquidation of all assets of the Debtor and that it will cease business, the sole question is the value of the Debtor's property, i.e., Unit 119 ½. This property can be sold, and it is expected that it will be sold for at least $540,000. A full-text copy of the Disclosure Statement dated April 7, 2026 is available at https://urlcurt.com/u?l=uEtkK6 from PacerMonitor.com at no charge. Counsel to the Debtor: Richard T. Baum, Esq. 6627 Maryland Drive Los Angeles, CA 90048 Telephone: (310) 277-2040 Facsimile: (310) 286-9525 Email: rickbaum@hotmail.com About Western Regional Properties LLC Western Regional Properties, LLC, owns, as tenant-in-common, properties in Los Angeles, Calif., valued at $1.3 million. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 24-10860) on May 28, 2024. In the petition signed by Temidayo Akinyemi, managing member, the Debtor disclosed $1,374,512 in total assets and $934,036 in total liabilities. Judge Martin R. Barash oversees the case. Richard T. Baum, Esq., represents the Debtor as legal counsel. WESTSIDE TOW: Gets Interim OK to Use Cash Collateral Until June 30 ------------------------------------------------------------------ Westside Tow and Transport, Inc. received interim approval from the U.S. Bankruptcy Court for the Central District of California, Northern Division, to use cash collateral. The court authorized the Debtor to use cash collateral through June 30 to pay the expenses set forth in the budget, with the exception of the duplicate payment to U.S. Small Business Administration. No payments must be made to insiders. As protection, the SBA will receive a monthly payment of $9,834. In addition, the SBA and other creditors that claim an interest in the Debtor's cash will be granted replacement liens on the Debtor's personal property, with the same priority, validity, and extent as the pre-bankruptcy liens that they replace. The interim order is available at https://shorturl.at/7MBuW from PacerMonitor.com. Westside Tow and Transport operates in California and nationwide, offering services such as vehicle recovery, heavy-duty towing, freight hauling, oversized load management, and vehicle storage. It owns real property at 9500 Arlington Avenue, Riverside, California, employs thirteen staff, and serves long-term clients including Mercedes Benz, Porsche, Honda, and Kia. The Debtor faces financial pressure from several merchant cash advances and other loan obligations, making access to cash collateral critical to sustain operations, maintain relationships with existing customers, and collect receivables. Its principal assets include cash on hand, accounts receivable, and the Arlington property, with a total asset value not exceeding $3.1 million. The entities holding interests in the cash collateral are the SBA and Harvest Small Business Finance. The cash collateral will fund ordinary business expenses as outlined in a three-month budget, including employee wages and benefits, utilities, taxes, insurance, essential operational services, and payments to consultants, advisors, and professionals who assist in reorganization. About Westside Tow & Trucking Inc. Westside Tow & Trucking Inc. is a Los Angeles area towing and trucking company. Westside Tow & Trucking sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Calif. Case No. 25-11352) on October 8, 2025. In its petition, the Debtor reported between $1 million and $10 million in assets and liabilities. Honorable Bankruptcy Judge Ronald A. Clifford III handles the case. The Debtor is represented by Tamar Terzian, Esq., of Terzian Law Group, APC. WILSON & ASSOCIATES: Unsecureds Will Get 2.6% of Claims in Plan --------------------------------------------------------------- Wilson & Associates Insurance & Financial Services, Inc., filed with the U.S. Bankruptcy Court for the District of Maryland a Subchapter V Plan dated April 7, 2026. The Debtor is a Maryland corporation owned by Michael A. Wilson, who individually is a licensed insurance producer. The Debtor was organized by Mr. Wilson and has operated for 44 years. The Debtor sells life insurance policies and annuities to individuals in the State of Maryland. Since approximately 2008, Mr. Wilson experienced significant health concerns which have limited his ability to perform the services necessary to operate the Debtor at historical levels. Additionally, Mr. Wilson is currently 69 years of age. In 2022, the Debtor obtained two Economic Injury Disaster Loans from the Small Business Administration in the principal amounts of $495,000 and $62,000.00. The Debtor has made reduced payment on both loans pursuant to the hardship accommodation program of approximately ten percent of the requisite payments. The Debtor is unable to resume the full contract payments. The value of the property to be distributed under the Plan during the term of the Plan is not less than the Debtor's projected disposable income for that same period. Unsecured creditors holding allowed claims will receive distributions, which the Debtor has valued at approximately 2.6 cents on the dollar. The Plan also provides for the payment of secured, administrative, and priority claims in accordance with the Bankruptcy Code. Class 3 consists of Claims of SBA and General unsecured creditors. Paid monthly at $500 per month, commencing on the month following full payment of the Class 2. The allowed unsecured claims total $566,919.00. This Class will receive a distribution of 2.6% of their allowed claims. Unless otherwise provided in this Plan or indicated on Appendix B, funds received by the Trustee or otherwise included in this Plan but not specifically disbursed to a secured creditor under this Plan, shall be used to pay the following claims in the priority indicated: * Except as provided in Section 1191(e) of the Bankruptcy Code, all claims entitled to priority under Section 507 of the Bankruptcy Code shall be paid in accordance with Section 1129(a)(9) of the Bankruptcy Code. * Pursuant to Section 1191(e) of the Bankruptcy Code, the payment of claims entitled to priority under Section 507(a)(2) and Section 507(a)(3) of the Bankruptcy Code shall be paid under the Plan. * All secured claims shall be paid in accordance with Section 1129(b)(2)(A), Section 1191(b), and Section 1191(c) of the Bankruptcy Code. * After payment of the foregoing claims, sums received by the Trustee shall be paid, on a pro-rata basis, to allowed general unsecured claims. * In accordance with Section 1191 of the Bankruptcy Code and the terms of this Plan, the Debtor's equity security holders shall retain their interests in the Debtor. The Debtor is basing its projections on an average of its prior monthly receipts and expenses. It assumes the sales will continue consistent with the prior years for another year and expects a decrease in income due to his advancing age and health concerns. All income will be earned through continued operation of the business. There are minimal assets that could be liquidated to pay creditors. A full-text copy of the Subchapter V Plan dated April 7, 2026 is available at https://urlcurt.com/u?l=tGubTA from PacerMonitor.com at no charge. Counsel to the Debtor: Geri Lyons Chase, Esq. Law Office of Geri Lyons Chase 2007 Tidewater Colony Drive, Suite 2B Annapolis, MD 21401 Telephone: (410) 573-9004 Email: gchase@glchaselaw.com About Wilson & Associates Insurance & Financial Services, Inc. Wilson & Associates Insurance & Financial Services sells life insurance policies and annuities to individuals in the State of Maryland. The Debtor sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-10199) on January 7, 2026. In its petition, the Debtor reports estimated assets between $0 and $100,000 and estimated liabilities between $100,001 and $1,000,000. Honorable Bankruptcy Judge Lori S. Simpson handles the case. The Debtor is represented by Geri Lyons Chase, Esq. of the Law Office of Geri Lyons Chase. WISCONSIN & MILWAUKEE: Lenders Lose Bid to Suspend Chapter 11 Case ------------------------------------------------------------------ Judge G. Michael Halfenger of the U.S. Bankruptcy Court for the Eastern District of Wisconsin denied the request of Computershare Trust Company, N.A., and Wisconsin & Milwaukee Hotel Funding LLC that the court suspend all proceedings in Wisconsin & Milwaukee Hotel LLC's chapter 11 bankruptcy case until their appeal of the automatic stay ruling is concluded. Debtor Wisconsin & Milwaukee Hotel LLC owns the Milwaukee Marriott Downtown, a full-service hotel in Milwaukee, Wisconsin, that is operated under a franchise agreement with Marriott International, Inc. (Marriott) and managed by White Lodging Services Corporation (White Lodging). The Lenders (i.e., Computershare Trust Company, N.A., (Computershare) and Wisconsin & Milwaukee Hotel Funding LLC) hold debt secured by the debtor's assets, including the hotel. The debtor was unable to pay its obligations to the Lenders when they demanded full payment on April 1, 2024, resulting in the debtor commencing this bankruptcy case by filing a chapter 11 petition on April 9, 2024. The debtor timely filed a third amended chapter 11 plan, which changed the interest rate to be paid on Computershare's secured claim to an initial 6.5%, paying a 2.7% risk premium over the five-year Treasury note rate, adjusted every five years in accordance with then prevailing market rates. The third amended plan also provided that to raise at least $8 million of additional funds (principally for renovations expected to be required by Marriott to continue franchising the hotel), the debtor would move under Sec. 363 for approval of an auction of equity interests in the reorganized debtor. The third amended plan contemplated proposing for court approval auction procedures under which the debtor's principal owner would make an $8 million stalking-horse bid, subject to a breakup fee of $280 thousand, and other bidders had to pay in cash and show the ability both to bid up to $12.6 million and step in as the guarantor of the debtor's obligations to Marriott. The third amended plan further provided that sale proceeds exceeding $8 million (less any breakup fee) would first be distributed pro rata to unsecured creditors and, if those creditors were paid in full, to the debtor's former owners, whose prior equity interests would otherwise be terminated. The Lenders appealed this court's December 5, 2025 order denying them immediate relief from the automatic stay to enforce liens on the debtor's property to collect pre-bankruptcy debts, but entitling them to that relief if the debtor fails to confirm its fourth amended plan of reorganization. Based on a finding that the debtor likely has the means to finance a feasible plan of reorganization that may timely be confirmed, the order denied the Lenders' request for immediate termination of the stay and granted the debtor leave to file a fourth amended plan. On January 12, 2026, the debtor timely filed its fourth amended plan of reorganization, a second amended disclosure statement, a motion to approve bidding procedures for the sale of equity, and a stipulation with Marriott authorizing the assumption of the Marriott franchise agreement. On January 29, 2026, the Lenders moved under Federal Rule of Bankruptcy Procedure 8007 to suspend all proceedings in this court until the resolution of their appeal. The debtor objects, contending that: (1) this court retains jurisdiction to adjudicate plan confirmation and its motion to approve auction procedures; and (2) the court should not suspend these proceedings because the appeal lacks merit and further proceedings will not irreparably harm Lenders. The Court concludes that the Lenders' appeal of the December 5 order does not divest the bankruptcy court of jurisdiction to continue proceedings relating to confirmation of the debtor's pending fourth amended plan of reorganization and related request for approval of procedures for the sale of equity interests in the reorganized debtor. The Court concludes that suspension of the bankruptcy proceedings pending the resolution of the Lenders' appeal is unwarranted for several reasons, including: (i) the Lenders have not shown that their appeal is likely to succeed on the merits; (ii) the Lenders have not shown that continuation of the proceedings though plan confirmation will cause them irreparable harm and continuing the proceedings best promotes efficient judicial administration; and (iii) the public interest aligns with chapter 11's preference for reorganization over liquidation and disfavors allowing an appeal that is final as to a discrete relief-from-stay proceeding but otherwise interlocutory to bring the entire case to a halt. The court says the Lenders' contention that proposed plan terms and auction procedures are grounds for reversal misconstrues the stay-relief test as one requiring the debtor to show that a pending plan satisfies all confirmation requirements, and the plan provisions and proposed auction procedures the Lenders dispute are either not necessary for the debtor to successfully reorganize, not inconsistent with chapter 11's confirmation requirements, or both. The court will continue all proceedings at least through plan confirmation (unless the court dismisses or converts the case before then) without prejudice to any party seeking a suspension of proceedings should there be an appeal of an order confirming a plan of reorganization or any other future final order. A copy of the Court's Opinion and Order dated April 2, 2026, is available at http://urlcurt.com/u?l=Aw3Rof About Wisconsin & Milwaukee Hotel Wisconsin & Milwaukee Hotel LLC is a Wisconsin limited liability company with its principal place of business in Milwaukee, Wisconsin. The Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Wisc. Case No. 24-21743) on April 9, 2024. In the petition signed by Mark Flaherty, as manager, the Debtor disclosed up to $50 million in both assets and liabilities. Judge G. Michael Halfenger oversees the case. Michael P. Richman, at RICHMAN & RICHMAN LLC, is the Debtor's legal counsel. WOODTOWN SPORTS: Case Summary & 20 Largest Unsecured Creditors -------------------------------------------------------------- Debtor: Woodtown Sports, LLC d/b/a Splitrock Tap & Wheel 2020 Sir Francis Drake Blvd. Fairfax, CA 94930 Business Description: Woodtown Sports, LLC, doing business as Splitrock Tap & Wheel, operates as a hybrid bicycle retailer, service shop, and taproom in Fairfax, California, combining cycling sales, maintenance services, and a hospitality space under one roof. The business offers bikes and e-bikes from brands such as Specialized and Transition, along with cycling gear, demos, and rentals. It also provides repair and maintenance services, including brake, tire, drivetrain, and bearing work. The taproom component serves rotating craft beers and functions as a social space for local customers and cyclists. Chapter 11 Petition Date: April 13, 2026 Court: United States Bankruptcy Court Northern District of California Case No.: 26-30316 Judge: Hon. Hannah L. Blumenstiel Debtor's Counsel: Brent D. Meyer, Esq. FINESTONE HAYES LLP 456 Montgomery Street, Suite 1300 San Francisco, CA 94104 Tel: (415) 209-5027 Fax: (415) 762-5277 E-mail: bmeyer@fhlawllp.com Total Assets: $138,727 Total Liabilities: $1,685,299 The petition was signed by Jason Faircloth 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/YEW35JY/Woodtown_Sports_LLC__canbke-26-30316__0001.0.pdf?mcid=tGE4TAMA YNEZ SHOPS: U.S. Trustee Unable to Appoint Committee ---------------------------------------------------- The U.S. Trustee for Region 16 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Ynez Shops, LLC. About Ynez Shops LLC Ynez Shops, LLC, classified as a single-asset real estate company, owns property located at 29640 Rancho California Road in Temecula, California, and its operations are focused on managing this real estate asset. Ynez Shops filed Chapter 11 petition (Bankr. C.D. Calif. Case No. 26-10693) on March 3, 2026, with between $10 million and $50 million in both assets and liabilities. Judge Scott C. Clarkson oversees the case. The Debtor is represented by: William J. Wall, Esq. Wall Law Office 26895 Aliso Creek Rd # B-110 Aliso Viejo, CA 92656-5301 Tel: (949) 387-4300 x105 Email: wwall@wall-law.com [] Mark Kronfeld Joins Nardello & Co. to Lead Bankruptcy Practice ----------------------------------------------------------------- Global investigations and advisory firm Nardello & Co. announced on April 14, 2026, that Mark Kronfeld has joined the firm's New York office as Managing Director and Head of the firm's expanding Bankruptcy, Restructuring, and Special Situations Practice. Kronfeld brings three decades of experience as a bankruptcy lawyer, restructuring advisor, independent fiduciary, prosecutor, and professor, with significant expertise in high-stakes litigation, investor activism, and corporate governance investigations. Kronfeld will focus on bankruptcy and restructuring related investigations, distressed and special situations matters, trustee and independent fiduciary assignments, and expert services. Nardello & Co. has led investigations in some of the most high-profile bankruptcy matters of the past decade. Notably, the team was appointed by FTX CEO John Ray to conduct investigations that contributed to the recovery of $9 billion in assets stolen from creditors. Further, Nardello & Co. is instructed by the unsecured creditors in the First Brands Group bankruptcy to develop claims and trace assets; has acted for the families of children killed in the Sandy Hook massacre to uncover the assets of Alex Jones as they sought damages; and worked on behalf of the creditors of Purdue Pharma in successfully tracing the assets of the Sackler family. "Clients addressing bankruptcy and restructuring issues increasingly need advisors who understand not just the legal landscape but the global financial, investigative, and strategic dimensions of these situations," said Sabina Menschel, CEO of Nardello & Co. "Mark's background allows us to provide our clients with a broad range of solutions in periods of distress." Most recently, Kronfeld was a Managing Director at a top financial advisory firm. He currently serves as a Litigation Trustee for the Steward Health Care Creditor Litigation Trust -- arising from the failure and Chapter 11 filing of the nation's largest privately owned, for-profit hospital system -- where he leads investigations, strategy, and recovery efforts on behalf of the trust beneficiaries. He also serves as a Litigation Trustee for the Heritage Power Litigation Trust, and as a director on multiple corporate boards. Kronfeld was formerly Global Head of Restructuring at BlackRock and sat on the firm's Global Credit Oversight Committee, where he was responsible for overseeing workouts and restructurings and helped manage BlackRock's various special situations funds and credit sleeves. Kronfeld began his career as an Assistant District Attorney in the Bronx and then a bankruptcy lawyer where he represented debtors, creditors, trustees, and boards in complex Chapter 11 cases and handled commercial litigation in state and federal court. "Mark's expertise is exceptionally well aligned with the needs of our clients," said Dan Nardello, founder and executive chairman of Nardello & Co. "He has a 360-degree understanding of major bankruptcy and restructuring matters; a rare perspective that will benefit our clients tremendously." "Nardello & Co. built its preeminent reputation by helping clients in matters with a high cost of failure," said Kronfeld. "I am thrilled to join a firm with unparalleled investigative strength and global reach. I look forward to advising clients in high-stakes situations from the world's foremost investigative platform, staffed by professionals whose pedigrees and experience are unmatched in the industry." Kronfeld is an adjunct Assistant Professor of Finance at NYU Stern School of Business, where he teaches Corporate Bankruptcy and Reorganization, and a lecturer at Columbia University, where he teaches Distressed Value Investing. He has also taught at the Boston University School of Law and has guest lectured at Wharton, Yale, Duke, the University of Virginia, and Oxford University. A published author, frequent speaker, and thought leader in his field, he served on the advisory committee of the American Bankruptcy Institute's Commission to Study the Reform of Chapter 11. He is a graduate of the NYU Stern School of Business, where he obtained his MBA, Boston University School of Law, and State University of New York at Albany. About Nardello & Co. Ranked as the pre-eminent US investigative firm by Chambers and Partners for the past six years and called the "gold standard", Nardello & Co.'s. experienced professionals around the globe handle a broad range of matters, in addition to bankruptcy, including civil and white collar criminal litigation and arbitration support, due diligence, anti-corruption and fraud investigations, asset tracing, activist defense, political risk and strategic intelligence, digital investigations and cyber defense, monitorships and independent investigations, and compliance consulting. [] Wilentz Obtains Full Affirmance of $18M Commercial Foreclosure ----------------------------------------------------------------- Wilentz, Goldman & Spitzer, P.A. is pleased to announce a significant victory in the Superior Court of New Jersey, Appellate Division, which affirmed in full a Chancery Division foreclosure judgment exceeding $18 million on behalf of a private lender client. The Appellate Division rejected challenges to several key components of the trial court's ruling, including the determination of the default date, the application of default interest, and the award of attorneys' fees. The decision reinforces the enforceability of negotiated terms in sophisticated commercial lending transactions. Wilentz Shareholders David H. Stein, Esq. and Samantha Stillo, Esq. successfully defended the trial court's ruling through a complex appellate record involving loan agreements, multiple forbearance provisions, and lien priority issues. "This decision underscores the strength of well-structured commercial loan documents and affirms lenders' ability to rely on negotiated remedies," said Stein. "The outcome represents a strong result for our client," said Stillo. "It also serves as an important appellate affirmation for commercial lenders navigating complex enforcement proceedings." Results achieved in prior matters are not meant to be a guarantee of success as the facts and legal circumstances vary from matter to matter. About Wilentz, Goldman & Spitzer Wilentz, Goldman & Spitzer, P.A. is one of the largest and most enduring law firms in New Jersey, offering legal services to corporate, individual, and governmental clients across a broad range of practice areas. Since its founding in 1919, the firm has been involved in landmark cases, significant regulatory matters, and high-profile transactions. Wilentz is headquartered in Woodbridge, New Jersey, with offices in Perth Amboy, Red Bank, New York City, and Philadelphia. For more information, visit www.wilentz.com. [^] BOOK REVIEW: LING The Rise, Fall, & Return of a Texas Titan --------------------------------------------------------------- Author: Stanley H. Brown Publisher: Beard Books Softcover: 308 pages List Price: $34.95 Order your personal copy at http://amazon.com/exec/obidos/ASIN/1893122301/internetbankrupt Summed up neatly, this is Jim Ling, founder and CEO of Ling-Temco-Vought, once the fourteenth-largest corporation on the Fortune 500 list: That he was able to get control of - and combine - the sixth largest steel company, the eighth largest airline, the eighth largest defense contractor, the third largest meat packer, the largest sporting-goods maker, and a string of other companies in an almost random group of industries may well be the most significant thing to be said about him. Or maybe it is the fact that he performed all this from a base of little education, no connections, no money, no status, no leverage of any kind, but solely on the strength of what he discovered and created. As fascinating as Ling was, this book offers so much more. Stanley H. Brown presents a remarkable knowledge of and intriguing insights into corporate history and institutional behavior. He understands what makes organizations work, whether corporate, religious, or military. Although it has been more than 25 years since Jim Ling was on top of the world, he and his story remain hard to beat. He was a man of integrity. Faced with defeat, he conjured up innovative solutions. He picked up the pieces and tried something else, and even investors once burned went back for more. He believed in himself and his ventures absolutely, so much so that he kept all his won money and his children's money in LTV stock, and was wiped out when it went bust. Ling was born one of six in Hugo, Oklahoma. A devout Catholic in the fundamentalist Bible Belt, his father killed a fellow worker in a rage after years of enduring anti-Catholic torment and, although acquitted, was so racked with guilt he left the family to live in a monastery. Ling's mother died when he was eleven. He never finished high school. After a short stint in the Navy during World War II, during which time he became an electrician, he started Ling Electric in Dallas. Post-war Dallas was good to bright men who worked hard. The company grew exponentially. Ling discovered public investors and began infusing them with his enthusiasm, enthusiasm that made them hand over lots of money to him. And he began to acquire companies at a dizzying pace, bigger and bigger companies: meatpacker Wilson & Co., steelmaker Jones & Laughlin, Braniff Airlines, LTV Aerospace, Wilson Sporting Goods, and many other, smaller companies. He was masterful financier with seemingly endless ideas on making money work. So where did it go wrong? Ling's over-conglomerated conglomerate spun out of control. He was a micromanager extraordinaire and kept too much decision-making power to himself. He was a victim of his own success and overfed ego. He fought long and hard with the Justice Department in an antitrust suit over Jones & Laughlin, but the country's suspicion of conglomerates in the late 1960s got the better of him. In the end, he was ousted by his own people but, true to form, went on to try something new. The author researched this book very thoroughly. He convinced Ling to keep a journal during some critical moments and interviewed all the major players. Read it for the story of Ling, but also to learn about what makes people tick. Stanley H. Brown is a former writer and editor at Business Week, Fortune, and Forbes. His columns have appeared in numerous publications. ********* On Thursdays, the TCR delivers a list of recently filed Chapter 11 cases involving less than $1,000,000 in assets and liabilities delivered to nation's bankruptcy courts. The list includes links to freely downloadable images of these small-dollar petitions in Acrobat PDF format. Each Friday's edition of the TCR includes a review about a book of interest to troubled company professionals. All titles are available at your local bookstore or through Amazon.com. Go to http://www.bankrupt.com/books/to order any title today. Monthly Operating Reports are summarized in every Saturday edition of the TCR. The Sunday TCR delivers securitization rating news from the week then-ending. TCR subscribers have free access to our on-line news archive. Point your Web browser to http://TCRresources.bankrupt.com/and use the e-mail address to which your TCR is delivered to login. ********* S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter is a daily newsletter co-published by Bankruptcy Creditors Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Philadelphia, Pa., USA. Randy Antoni, Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Joel Anthony G. Lopez, Psyche A. Castillon, Ivy B. Magdadaro, Carlo Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors. Copyright 2026. All rights reserved. ISSN: 1520-9474. This material is copyrighted and any commercial use, resale or publication in any form (including e-mail forwarding, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. The single-user TCR subscription rate is $1,400 for six months or $2,350 for twelve months, delivered via e-mail. Additional e-mail subscriptions for members of the same firm for the term of the initial subscription or balance thereof are $25 each per half-year or $50 annually. For subscription information, contact Peter A. Chapman at 215-945-7000. *** End of Transmission ***