260508.mbx

260508.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, May 8, 2026, Vol. 30, No. 128 Headlines 1106B LLC: Commences Subchapter V Bankruptcy in Florida 1624 U STREET: Jolene Wee Named Subchapter V Trustee 2275 SUNSET: Seeks to Hire G&B Law LLP as Bankruptcy Counsel 245-249 8TH STREET: Hires Horvath & Tremblay as Real Estate Broker 506 FRANKLIN: Case Summary & Four Unsecured Creditors 741 INC: Wins Bid to Dismiss Cota Yellow Brick Adversary Case 960 MANAGEMENT: Available Cash & Sale Proceeds to Fund Plan AAA GARAGE: Gets Interim OK to Use Cash Collateral Until Aug. 6 ACADEMY LTD: Moody's Affirms 'Ba2' CFR & Alters Outlook to Positive ACCORD LEASE: Amends Several Unsecureds & Secured Claims Pay AHHC SERVICES: Commences Chapter 7 Bankruptcy in Florida ALASKA AIRLINES: S&P Rates New $500MM Senior Unsecured Notes 'BB-' ALETHA INC: Case Summary & 20 Largest Unsecured Creditors ALLBOUND CARRIER: Seeks Cash Collateral Access ALLEN MEDIA: OFS Capital Marks $3.6MM 1L Loan at 25% Off AMERICAN HEALTH: Hires Shraiberg Page P.A. as Bankruptcy Counsel AMIREPAIR I INC: Taps Lisa Noxon Holder as Bankruptcy Counsel AP CORE II: Fitch Assigns 'B+' Rating on Senior Secured Debt APPLE TREE: Plan Exclusivity Period Extended to Sept. 8 AUTOMOTIVE OUTFITTERS: Case Summary & Eight Unsecured Creditors AVISON YOUNG: OFS Capital Marks $327,000 1L Loan at 18% Off B&R EQUIPMENT: Hires Allman Kight Hester LLC as Bankruptcy Counsel BAKER & TAYLOR: Stringer Loses Bid for Automatic Stay Relief BANNER CHEMICAL: Gets Interim OK to Use Cash Collateral BAYMARK HEALTH: OFS Capital Virtually Writes Off $8.9M 2L Loan BBBB GP LLC: Voluntary Chapter 11 Case Summary BIOTRICITY INC: Holders Swap Stock, Options, Warrants for Preferred BLUE ONYX: Iana Vladimirova Named Subchapter V Trustee BLUE ONYX: Seeks to Hire Kerkman & Dunn as General Counsel BOND US BIDCO 1: Moody's Rates New Sr. Secured Notes Due 2033 'B2' BOUND LOGISTICS: Gets Interim OK to Use Cash Collateral BRANDCASTERS INC: Case Summary & 17 Unsecured Creditors BRANDFOX LLC: Taps Lucove Say & Co as Certified Public Accountant BUD'S CONSTRUCTION: Case Summary & 20 Largest Unsecured Creditors CATALYST CREW: Changes Name to LataMed AI CBCG ENTERPRISES: Jonathan Dickey Named Subchapter V Trustee CBCG ENTERPRISES: Seeks to Hire Buechler Law Office LLC as Counsel CEDAR ARCH: Seeks Approval to Hire Julie Haws CPA as Accountant CES MAIL: Case Summary & 11 Unsecured Creditors CINCINNATI BELL: Fitch Affirms 'B' LongTerm IDR, Outlook Stable CLAY YOUNG: Case Summary & Two Unsecured Creditors CLEANOVA: Fitch Affirms 'B' LongTerm IDR, Outlook Stable COAST TO COAST: Fine-Tunes Plan Documents COMPONENT FABRICATORS: Lender Seeks to Prohibit Cash Access COSMETIC MEDICINE: Hires Shumaker Loop & Kendrick LLP as Counsel CRYO-1 INC: Unsecureds Will Get 100% of Claims over 5 Years CRYSTAL BASIN: $525K Unsecured Claims to Recover 100% in Plan D&M KITCHEN: Case Summary & Eight Unsecured Creditors D2 GOVERNMENT: Court OKs Multiple Vehicles Sale DBJ US CORP: Claims to be Paid from Disposable Income DELEK US: Moody's Rates Amended Senior Secured Term Loan 'B2' DIOCESE OF ALBANY: Tort Claimants Taps Actuarial Value as Advisor DIOCESE OF EL PASO: Comm. Taps Stinson LLP as Bankruptcy Counsel DOCK ON COOLEY: Hires Robert Bassel Esq. as Bankruptcy Counsel DODGE CONSTRUCTION: Oxford Square Marks $17.5M 2L Loan at 60% Off DODGE CONSTRUCTION: Oxford Square Marks $3.0M 1L Loan at 25% Off DRIVESMART SYSTEMS: Case Summary & 12 Unsecured Creditors EL DORADO SENIOR: Quality of Care Maintained, 11th PCO Report Says EQUUS TOTAL: Auditor BDO Resigns After 2025 Form 10-K ESV PROPERTIES: Voluntary Chapter 11 Case Summary EXCELIN HOME: OFS Capital Marks $7.4M 2L Loan at 76% Off EYESTONE INVESTMENTS: Hires Michael E. Gazette as Legal Counsel EYWA TRADING: Voluntary Chapter 11 Case Summary FO&O INC: Case Summary & 13 Unsecured Creditors FORT DEFIANCE: Hires Keegan Linscott & Associates as Accountant FORTA LLC: Oxford Square Marks $8.3M 2L Loan at 48% Off FREEDOM FOREVER: Two Affiliates File Voluntary Chapter 11 Cases FRESHREALM INC: Gets Interim OK for DIP Financing GENESIS HEALTHCARE: Court Vacates 2025 Extend Stay Order GLACIER CAR: Case Summary & Seven Unsecured Creditors GNC HOLDINGS: Court Awards Costs to CITIC, et al. in DNJ Action GOTO GROUP: OFS Capital Marks $2.2M 1L Loan at 48% Off HANSEN-MUELLER: Certain Texas Producers Grain Claims Disallowed HAPISGAH OF FLUSHING: Case Summary & 20 Top Unsecured Creditors HEALTHCHANNELS: Oxford Square Marks $8.8MM 1L Loan at 60% Off HERITAGE GROCERS: OFS Capital Marks $8.9M 1L Loan at 23% Off HONEY BRANDS: Ira Bodenstein Named Subchapter V Trustee HRONIS INC: Conterra v. DLP Case Referred to Bankruptcy Court HUBBARD CONCRETE: Commences Chapter 11 Bankruptcy in Florida HVI CAT: UBS, et al. Adversary Case Remanded to Superior Court IDERA INC: OFS Capital Marks $2.683MM 2L Loan at 24% Off IMPAC MORTGAGE: Unsecureds Will Get 24.36% to 100% in Plan INTERACTIVE GOVERNMENT: Hires Frost & Associates as Legal Counsel INTERACTIVE GOVERNMENT: Seeks $2.5MM DIP Loan from Action Capital INTERNATIONAL UNION: Wins Chapter 11 OK to Continue Florida Appeal JOHN FITZGIBBON: U.S. Trustee Appoints Scott Pummell as PCO JP INTERMEDIATE: OFS Capital Marks $1.5MM 1L Loan at 34% Off KARROW WHITEFISH: Creditors to Get Proceeds From Liquidation KC HOMES: Seeks to Hire Russo White & Keller PC as Attorney KELLERMEYER BERGENSONS: Ares Marks $16.2M 1L Loan at 95% Off KID CITY USA: Seeks to Extend Plan Exclusivity to Sept. 1 KIITOS BREWING: Seeks to Hire Diaz & Larsen as Bankruptcy Counsel KOINONIA CONSTRUCTION: To Sell Nevada Properties to Multiple Buyers KOMAX LLC: Case Summary & 20 Largest Unsecured Creditors KRAKEN OIL: S&P Rates Proposed $400MM Senior Unsecured Notes 'B+' LABORATORIES BIDCO: Ares Capital Marks $15.6M 1L Loan at 23% Off LABORATORIES BIDCO: Ares Capital Marks $17.6M 1L Loan at 23% Off LABORATORIES BIDCO: Ares Capital Marks $24.2M 1L Loan at 23% Off LABORATORIES BIDCO: Ares Capital Marks $4.6M 1L Loan at 22% Off LABORATORIES BIDCO: Ares Capital Marks $4.7M 1L Loan at 23% Off LAVIE CARE: No Complaints at NC Facilities, 9th PCO Report Says LEVEL 3 FINANCING: S&P Rates New Senior Secured Term Loan 'B+' LISA SHAMBRO: Court Upholds Dismissal of Greenfence, et al., Case LUMMUS TECHNOLOGY: S&P Assigns 'B+' ICR, Outlook Negative MAGENTA BUYER: Oxford Square Marks $1.3M 1L Loan at 59% Off MAGENTA BUYER: Oxford Square Marks $10.3M 1L Loan at 78% Off MAPLE BEAR: Aaron Cohen Named Subchapter V Trustee MATE LLC: Angela Shortall Named Subchapter V Trustee MAVIS TIRE: Fitch Assigns 'B-' LongTerm IDR, Outlook Stable MEGA KYON: Case Summary & Five Unsecured Creditors MIYOSHI AMERICA: Gets Interim OK for DIP Financing from Parent MIYOSHI AMERICA: Unsecureds "Unimpaired" in Prepackaged Plan MONOGRAM FOOD: Moody's Ups CFR to B2, Outlook Stable MOUNTAIN VISTA: Trustee Hires Colliers as Real Estate Broker NM SOUTH: Voluntary Chapter 11 Case Summary NUANCE ENERGY: Hires Wolf Rifkin Shapiro as Bankruptcy Counsel ODEON FINCO: Moody's Rates New Secured First Lien Term Loan 'B3' OROVILLE HOSPITAL: Secures Chapter 11 Plan Filing Extension OUISI INCORPORATED: N. Wasserstein Named Subchapter V Trustee PALM GREENS: Trustee Taps GlassRatner Advisory as Financial Advisor PHOENIX FUND: Has Deal on Cash Collateral Access POINCIANA PERSONAL: Hires Juan Carlos Burgos Esq. as Counsel POWER MOVES: Hires Bradford Law Offices as Bankruptcy Counsel PRECISION MANUFACTURING: Case Summary & 20 Unsecured Creditors PROPHASE DIAGNOSTICS: Creditor Claims Ch. 11 Has No Real Progress PURDUE PHARMA: Gets Court OK for $125MM Deal with McKinsey & Co. QVC GROUP: Opposes Shareholders' Equity Committee Creation Bid RED RIVER: J&J Faces Allegations of Hiding Talc Risks at LA Trial ROGER HARVEY BLACK: Court Upholds Dismissal of Bankruptcy Case ROSE MECHANICAL: Case Summary & 20 Largest Unsecured Creditors RUNITONETIME LLC: To Shutdown Seatac Casino after Chapter 11 S&P TRUCKING: Matthew Grimshaw Named Subchapter V Trustee SAILORMEN INC: Taps STNL Advisors LLC as Real Estate Consultant SANDY HOOK: Case Summary & Four Unsecured Creditors SENTIENT BRANDS: Names Knazev Acting Principal Executive Officer SG ECHO: Seeks Approval to Hire Phillips Murrah P.C. as Attorney SHADY TREE: Seeks to Hire Michael Jay Berger as Bankruptcy Counsel SIEMPRE NUNCA: Taps Glenn Carl James Law Offices as Special Counsel SPARHAWK LLC: Appointment of Chapter 11 Trustee OK'd SPIRIT AIRLINES: Court Agrees to OK Chapter 11 Wind Down Process SPIRIT AIRLINES: Halts Operations as Emergency Funding Plan Fails SPIRIT AVIATION: Ceases Operations After Govt. Bailout Plan Fails SQA MAHADEV: Seeks to Hire John E. Dunlap as Bankruptcy Counsel STG LOGISTICS: Resolves Court Dispute to Exit Chapter 11 SUPERIOR FAMILY: Seeks to Hire Purple Wave Auction as Auctioneer SWEETBERRY AVE: Starts Chapter 11 Bankruptcy in New York SYMPLR SOFTWARE: Ares Capital Marks $17.1M 1L Loan at 28% Off SYMPLR SOFTWARE: Ares Capital Marks $28.4M 1L Loan at 30% Off SYMPLR SOFTWARE: Ares Capital Marks $55.7M 2L Loan at 25% Off SYMPLR SOFTWARE: Ares Capital Marks $76.2M 2L Loan at 28% Off TALKING ROCK: Guarantors' Summary Judgment Bid Partially Denied TEXAS AUTO SAVE: Gets Interim OK to Use Cash Collateral THERAPY BRANDS: Ares Capital Marks $29.1MM 2L Loan at 22% Off TOPPER CORP: Carlos Garcia Miranda Named Subchapter V Trustee TRM NRE HOLDING: Cash Collateral Hearing Set for May 13 TRUE BELIEVERS: Court OKs Deal on Cash Collateral Access UNITED AIRLINES: S&P Assigns 'BB+' Rating on 2026 Revenue Bonds VILLAGE HOMES: Unsecureds Will Get 100% of Claims in Plan VITAL PHARMA: Wins Bid for Preliminary Injunction v. Elite Island WABEEK RIDGE: Charles Mouranie Named Subchapter V Trustee WISER SOLUTIONS: Gets Interim OK for DIP Financing From Crestline WOODLINE PROPERTIES: Case Summary & Four Unsecured Creditors WSHP FC: Ares Capital Marks $24.2MM 1L Loan at 16% Off XANDRIA HOLDINGS: Must Remit Monthly Adequate Protection Payments XANDRIA HOLDINGS: SunnyDay MHP Loses Bid for Automatic Stay Relief [^] Recent Small-Dollar & Individual Chapter 11 Filings ********* 1106B LLC: Commences Subchapter V Bankruptcy in Florida ------------------------------------------------------- On April 30, 2026, 1106B, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Florida. According to court filings, the Debtor reports between $100,001 and $1,000,000 in debt owed to between 1 and 49 creditors. About 1106B, LLC 1106B, LLC is a limited liability company that may be engaged in investment, real estate holding, or business operations, depending on its corporate structure and activities. 1106B, LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-15592) on April 30, 2026. In its petition, the Debtor reports estimated assets between $100,001 and $1,000,000 and estimated liabilities between $100,001 and $1,000,000. Honorable Bankruptcy Judge Corali Lopez-Castro handles the case. 1624 U STREET: 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 1624 U Street, 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 1624 U Street LLC 1624 U Street, LLC, doing business as El Secreto De Rosita, operates a Peruvian and Latin American restaurant and bar in Washington, D.C. The company offers dine-in, takeout, delivery, private dining and catering services, with a menu that includes ceviche, lomo saltado, arroz chaufa, seafood dishes, brunch and dinner items. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.D.C. Case No. 26-00215) on April 24, 2026, with $3,697,585 in assets and $2,341,034 in liabilities. Alfredo M. Fraga, owner, signed the petition. Judge Elizabeth L. Gunn presides over the case. Craig M. Palik, Esq. at MCNAMEE HOSEA, P.A. represents the Debtor as legal counsel. 2275 SUNSET: Seeks to Hire G&B Law LLP as Bankruptcy Counsel ------------------------------------------------------------ 2275 Sunset Plaza LLC seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ G&B Law, LLP as general bankruptcy counsel. The firm's services include: (a) advise the Debtor as to its duties, rights and powers; (b) represent the Debtor, with respect to bankruptcy issues, in the context of its pending Chapter 11 case and to represent it in contested matters as would affect the administration of its case, except to the extent that any such proceeding requires expertise in areas of law outside of G&B's expertise; (c) advise, assist, and represent the Debtor in negotiating and seeking court approval of Chapter 11 plan; (d) render services for the purpose of pursuing, litigating and/or settling litigation as may be necessary and appropriate in connection with this case; (e) perform such other legal services as may be required and in the interests of the Debtor and the estate; and (f) provide such other services as may be required as bankruptcy counsel. The hourly rates of the firm's counsel and staff are as follows: James R. Felton, Partner $725 Arthur A. Greenberg, Partner $725 Jeremy H. Rothstein, Partner $605 Michael J. Conway, Associates $655 Alberto Quintana Pineda, Associates $495 Tania Ingman, Of Counsel $565 Marina Fineman, Of Counsel $495 Law Clerk $235 Paralegal/Legal Assistant $125 to $325 In addition, the firm will seek reimbursement for expenses incurred. The firm received a post-petition retainer in the amount of $75,000. Jeremy Rothstein, a partner at G&B Law, LLP, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Jeremy H. Rothstein, Esq. G&B Law LLP 1600 Ventura Boulevard, Suite 1000 Encino, CA 91436 Telephone: (818) 382-6200 Facsimile: (818) 986-6534 Email: jrothsteing@gblawllp.com About 2275 Sunset Plaza LLC 2275 Sunset Plaza LLC is a California-based real estate holding company associated with property interests located on Sunset Plaza. 2275 Sunset Plaza LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-11242) on February 11, 2026. In its petition, the Debtor reports estimated assets between $50 million and $100 million and estimated liabilities between $10 million and $50 million. Judge Julia W. Brand oversees the case. The Debtor is represented by Rhonda Walker, Esq. 245-249 8TH STREET: Hires Horvath & Tremblay as Real Estate Broker ------------------------------------------------------------------ 245-249 8th Street NE REI LLC seeks approval from the U.S. Bankruptcy Court for the District of Columbia to hire Horvath & Tremblay DC LLC to provide commercial real estate brokerage services. The firm will market and sell the Debtor's property located at 245-249 8th Street NE, Washington, DC 20002. The commission to realtors is 5% of the gross purchase price. As disclosed in the court filings, Horvath & Tremblay DC LLC is a "disinterested person" within the meaning of 11 U.S.C. 101(14). The firm can be reached through: Dennis Cravedi, Esq. Horvath & Tremblay DC LLC 4500 East West Highway, Suite 150 Bethesda, MD 20814 Phone: (202) 221-8426 Email: dcravedi@htapartments.com About 245-249 8th STREET NE REI LLC 245-249 8th STREET NE REI LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D.D.C. Case No. 25-00422-ELG) on September 17, 2025. At the time of the filing, Debtor had estimated assets of between $1,000,001 and $10 million and liabilities of between $1,000,001 and $10 million. Judge Elizabeth L. Gunn oversees the case. Hirschler Fleischer, PC is the Debtor's proposed legal counsel. 506 FRANKLIN: Case Summary & Four Unsecured Creditors ----------------------------------------------------- Debtor: 506 Franklin Road, LLC 1113 Murfreesboro Road Franklin, TN 37064 Business Description: 506 Franklin Road LLC holds real property interests in Franklin, Tennessee, including parcels and residential properties on Murfreesboro Road, Trinity Road, Wynfield Village Court and Ryecroft Lane. Its listed holdings include 4629 and 4627 Murfreesboro Road, 4030 and 4026 Trinity Road, 1012 Wynfield Village Court and 2024 Ryecroft Lane, with a reported total current value of about $13.60 million. Chapter 11 Petition Date: May 4, 2026 Court: United States Bankruptcy Court Middle District of Tennessee Case No.: 26-02120 Judge: Hon. Charles M Walker Debtor's Counsel: Henry E. ("Ned") Hildebrand, IV, Esq. DUNHAM HILDEBRAND PAYNE WALDRON, PLLC 9020 Overlook Boulevard, Suite 316 Brentwood, TN 37027 Tel: 615-933-5851 Fax: 629-777-3765 E-mail: ned@dhnashville.com Total Assets: $13,613,372 Total Liabilities: $10,502,649 The petition was signed by Brian Sullivan as sole member. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/UEONN3A/506_Franklin_Road_LLC__tnmbke-26-02120__0001.0.pdf?mcid=tGE4TAMA List of Debtor's Four Unsecured Creditors: Entity Nature of Claim Claim Amount 1. Alessandro Zanetti $0 & Laura Veneri 705 Cantrell Ave Nashville, TN 37215 2. Guimont Capital $203,832 PO Box 3241 Bellevue, WA 98009 3. Kubota Credit $0 Corporation, U.S.A. PO Box 2046 Grapevine, TX 76099 4. Moore & Whatton Holdings, LLC $873,317 9150 Jones Ct Brentwood, TN 37027-8536 741 INC: Wins Bid to Dismiss Cota Yellow Brick Adversary Case ------------------------------------------------------------- Judge Thomas B. McNamara of the U.S. Bankruptcy Court for the District of Colorado granted the motion of 741, Inc., d/b/a Wisdom Rides of America to dismiss the adversary proceeding captioned as COTA YELLOW BRICK ROAD, LLC, Plaintiff, v. 741, INC., d/b/a WISDOM RIDES OF AMERICA, Defendant, Adv. Pro. No. 25-01345 TBM (Bankr. D. Colo.) pursuant to Fed. R. Civ. P. 12(b)(6). The Debtor, 741, Inc. d/b/a Wisdom Rides of America (the "Debtor"), is a corporate entity which mainly manufactures amusement park rides. The Plaintiff, Cota Yellow Brick Road, LLC (the "Plaintiff"), asserts that the Debtor is indebted to it for failure to timely deliver an amusement park ride known as the "Genesis." In 2024, the Plaintiff sued the Debtor in Colorado State Court for breach of contract, unjust enrichment, theft, and fraud. Before the conclusion of the Colorado State Court case, the Debtor filed for protection under Chapter 11 of the Bankruptcy Code seeking to reorganize. Undeterred, the Plaintiff initiated this Adversary Proceeding by filing a "Complaint for Determination of Dischargeability of Debt Owed and Objection to Debtor's Discharge Pursuant to 11 U.S.C. Sec. 523(a)(2) and (a)(4)" (the "Complaint"). The Plaintiff alleged that the Debtor is indebted to the Plaintiff and that such debt is nondischargeable under Sections Sec. 523(a)(2)(A) and (a)(4). Thereafter, the Debtor filed its "Motion to Dismiss Complaint" (the "Motion to Dismiss"), contending that a private creditor cannot invoke Section 523(a)(2)(A) and (a)(4) against a corporate debtor in a standard Chapter 11 reorganization. The Plaintiff opposed dismissal, emphasizing that the Debtor allegedly engaged in fraud. The Plaintiff contests the Motion to Dismiss, arguing that the Court should reject the Plaintiff's argument that Section 523(a) does not apply under the particular circumstances of this case. It argues that the circumstances in the caselaw cited by the Debtor are distinguishable from the situation at hand, and that the caselaw is not binding on the Court. The Plaintiff further disagrees that the language of Section 1141 limits dischargeability claims under Section 523(a) to claims against individuals and asserts that nothing in Section 1141(d) expressly states that the exceptions to discharge contained in Section 523(a) do not apply to corporate debtors in a standard Chapter 11 reorganization. In addition to arguing that statutory interpretation demonstrates the applicability of Section 523 to corporate debtors, the Plaintiff contends that "public policy and equity weigh in favor of this Court's rejecting the Debtor's attempts to shed its liability for fraud and theft." Because the Debtor is not an honest but unfortunate debtor and because allowing discharge of the Debtor's debt to the Plaintiff will not serve the purpose of providing for an equitable distribution to creditors, the Plaintiff argues, Section 523(a) should apply. The Plaintiff also contends that allowing for discharge of the Debtor's debt to it will only serve to complicate the Debtor's bankruptcy case, because if the Plaintiff's debt is not deemed nondischargeable, then the Plaintiff will be forced to seek dismissal of the Debtor's case, to object to its plan of reorganization, or to file a competing plan. The Court concurs with the Debtor. The Plaintiff's Complaint must be dismissed because, under the Bankruptcy Code, a private creditor (like the Plaintiff) cannot invoke Sections 523(a)(2)(A) and (a)(4) against a corporate debtor (like the Debtor) in a standard Chapter 11 reorganization. A copy of the Court's Order dated April 29, 2026, is available at https://urlcurt.com/u?l=18jqLO from PacerMonitor.com. About 741 Inc. 741 Inc., doing business as Wisdom Rides of America, manufactures and designs amusement rides from its base in Merino, Colorado. The Company produces attractions such as roller coasters, family rides, and thrill rides, and also provides refurbishment, parts, and maintenance services. Its products serve amusement parks, traveling carnivals, and family entertainment centers across the United States and internationally. 741 Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Col. Case No. 25-15550) on Aug. 28, 2025. In its petition, the Debtor reports total assets of $1,425,326 and total liabilities of $6,760,662. Bankruptcy Judge Thomas B. McNamara handles the case. The Debtor is represented by Jonathan M. Dickey, at KUTNER BRINEN DICKEY RILEY. 960 MANAGEMENT: Available Cash & Sale Proceeds to Fund Plan ----------------------------------------------------------- 960 Management Investments LLC filed with the U.S. Bankruptcy Court for the Southern District of Texas a Plan of Reorganization under Subchapter V dated April 27, 2026. The Debtor is a Texas company engaged primarily in the ownership of residential rental properties in Houston, Texas. Specifically, the Debtor owns four income-producing residential properties: (a) 911 Thompson St., Houston, TX 77007; (b) 913 Thompson St., Houston, TX 77007; (c) 915 Thompson St., Houston, TX 77007; and (d) 917 Thompson St., Houston, TX 77007. These rental properties are referred to collectively as the "Properties". The Properties are operated as short-term and mid-term residential rentals that generate rental income from third-party tenants. These Properties are currently insured, maintained, and operated as a going concern and the rental income is 960 Management's primary source of revenue. Ownership injected personal funds into the business to stabilize operations and support continued debt service and property maintenance and continued to engaged in repeated communications with Shellpoint to try and find a resolution. The parties did reach preliminary agreements regarding modified payment schedules and temporary accommodations, however Shellpoint failed to consistently honor the agreed payment arrangements. As a result, despite having funds available and intending to cure defaults, the Debtor was unable to complete payments before stated deadlines, while default interest and fees continued to accrue. Shellpoint's inconsistent servicing practices created uncertainty regarding account status and impeded the Debtor's ability to stabilize its financial position. These servicing issues materially contributed to the accumulation of the current arrearages on the loans. When it became clear that the out-of-court attempts to stabilize were impractical under these circumstances, the Debtor's ownership determined that it would be in the best interest of the company to seek the protections under the Bankruptcy Code to reorganize in an orderly manner with judicial oversight in order to ensure the transparent application of payments. The Plan Period is a 3-year period beginning after the Effective Date, on the date the first payment is due under the Plan. To the extent that the allowed claims of creditors are satisfied early, the actual term of the Plan may be completed before the end of 3 years. Class 4 consists of General Unsecured Creditors. The claimants in this class are the holders of an allowed general unsecured claim. There are no known members of this class. Class 5 consists of Equity Interest. All equity holders shall maintain their equity interests. Because this is a Subchapter V bankruptcy, the absolute priority rule as enumerated under Section 1129(b)(2) of the Bankruptcy Code does not apply. The sole equity interest held by Grace and Son Group LLC, is unimpaired and not entitled to vote on the Plan pursuant to Section 1126(f) of the Bankruptcy Code. Under the Plan, the Debtor will make monthly payments to these secured creditors, along with any balance from an allowed administrative claim, using its rental income, pending a sale of the Properties. The Debtor has already retained a professional real estate broker, approved by the Court in its Order Authorizing Employment of Real Estate Broker. The retained broker is in the process of marketing the Properties for a sale. The sale value of the Properties exceeds the encumbrances against them. The total sale value of the Properties is about $3,525,000, whereas the Debtor asserts that the total value of the liens to be around $2,643,750. Upon a sale of the Properties, all creditors will be paid in full, and the Debtor will have completed all contemplated Plan Payments. Attached as Exhibit 2 are the Debtor's 5-year projections showing the proposed payments to the secured creditors and potential admin claims, pending a sale of the Properties, and the cash on hand that would be available after such payments. As shown, the Debtor expects to be cash flow positive during this process and believes that the Plan it proposes is feasible. The Debtor shall begin making payments in accordance with the Plan ("Plan Payments") and any payment schedules contemplated under the Plan, the specifics of which, are being worked out between the Debtor and the respective affected creditors to ensure that the date of payment work for the parties involved. A full-text copy of the Plan of Reorganization dated April 27, 2026 is available at https://urlcurt.com/u?l=JWpflN from PacerMonitor.com at no charge. Counsel to the Debtor: Elias M. Yazbeck, Esq. Jacqueline Q. Chiba, Esq. The Law Office of Elias M. Yazbeck, PLLC 4119 Montrose Blvd., Suite 470 Houston, TX 77006 Telephone: (281) 755-7320 Email: elias@yazbecklaw.com About 960 Management Investments LLC 960 Management Investments, LLC owns four residential properties located at 911, 913, 915, and 917 Thompson Street in Houston, Texas, with a combined appraised value of approximately $3.53 million. 960 Management Investments filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-30503) on January 27, 2026, with $3,525,000 in assets and $2,643,750 in liabilities. The petition was signed by Michael Gadagbul, authorized representative of Grace and Son Group LLC, the Debtor's sole managing member. Judge Eduardo V. Rodriguez presides over the case. Elias Yazbeck, Esq., at The Law Office of Elias M. Yazbeck, PLLC, is the Debtor's counsel. AAA GARAGE: Gets Interim OK to Use Cash Collateral Until Aug. 6 --------------------------------------------------------------- AAA Garage Storage Solutions, Inc. on May 6 received interim approval from the U.S. Bankruptcy Court for the Central District of California, Los Angeles Division, to use cash collateral. Under the interim order, the Debtor is authorized to use cash collateral in accordance with its budget from April 22 through Aug. 6 or until further order of the bankruptcy court. Any expenditure exceeding the total budget by more than 10% requires approval from the court or First Internet Bank of Indiana, the Debtor's primary secured creditor. The Debtor's cash collateral consists of accounts receivable and cash receipts, subject to the security interests of First Internet Bank of Indiana and another secured creditor, Small Business Financial Solutions, LLC (doing business as Rapid Finance). The Debtor's need to use cash collateral arises from urgent financial distress, including declining revenues due to external disruptions such as a government shutdown and regional fires, as well as burdensome obligations stemming from merchant cash advance arrangements with Rapid Finance, which the Debtor claims are distinguished loans rather than true sales of receivables. These financial pressures led to the bankruptcy filing on April 22, with the goal of stabilizing operations, restructuring debt, and preserving the business as a going concern. First Internet Bank of Indiana and any creditor with valid pre-petition security interest in the cash collateral will be granted protection through a replacement lien on the Debtor's assets, with the same validity, priority and extent as their pre-petition liens. The replacement lien does not apply to any avoidance actions. In addition, the bank will receive monthly payments of $4,300. Events of default include failure to make monthly payments, maintain insurance, pay utilities, comply with the order, continue business operations or maintain sufficient cash collateral; conversion of the case to Chapter 7; appointment of a trustee; unauthorized liens on collateral; and modification of the automatic stay in favor of another creditor. The order is available at https://is.gd/uNP6LD from PacerMonitor.com. The next hearing will be held on Aug. 6. About AAA Garage Storage Solutions Inc. AAA Garage Storage Solutions, Inc, operating as Organized Garage Solutions, is a Pasadena, California-based company that designs and installs residential garage organization systems. Founded around 2014, it provides custom cabinetry, shelving, slatwall systems, overhead storage, and garage floor coatings through in-home design consultations and full installation services. The company serves homeowners across the greater Los Angeles area, with operations centered on garage optimization projects aimed at improving storage efficiency and usable space. AAA Garage Storage Solutions sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 26-13911) on April 22, 2026, with up to $500,000 in assets and up to $10 million in liabilities. Varand Zadoorian, president of AAA Garage Storage Solutions, signed the petition. Judge Vincent P. Zurzolo oversees the case. Clifford Bordeaux, Esq., at Bordeaux Law, P.C., represents the Debtor as bankruptcy counsel. ACADEMY LTD: Moody's Affirms 'Ba2' CFR & Alters Outlook to Positive ------------------------------------------------------------------- Moody's Ratings changed Academy, Ltd.'s ("Academy") outlook to positive from stable. At the same time, Moody's affirmed the company's corporate family rating at Ba2, its probability of default rating at Ba2-PD, and the rating on the company's existing senior secured first lien term loan and senior secured notes at Ba2. The speculative grade liquidity rating ("SGL") remains unchanged at SGL-1. The change in outlook to positive from stable reflects Academy's continued strong credit metrics, driven by materially lower debt and healthy free cash flow generation. Since 2020, the company has repaid nearly $1.0 billion of funded debt. As a result debt to EBITDA was 2.1x and EBIT to interest was 4.2x in 2025. Moody's expects Academy to have very good liquidity, to continue to pursue a balanced financial strategy that supports resilient credit metrics despite ongoing pressure on consumer spending. RATINGS RATIONALE Academy's Ba2 CFR reflects the company's scale and solid market position in the regions it serves, as well as management's ability to preserve profitability despite negative same store sales since 2022. During this period, the company focused on productivity enhancements, disciplined inventory management, and cost controls. While same store sales have remained negative, underlying trends have steadily improved, supported by contributions from new store openings. Ongoing improvements in merchandising and continued investment in omnichannel capabilities should further support operating performance over time. Additional earnings growth will be driven by Academy's store expansion program, launched in 2022, which is expected to add approximately 125 stores over the next 5 years and be funded with free cash flow. Academy maintains strong credit metrics, with leverage of 2.1x and EBIT to interest of 4.2x in 2025. Moody's expects leverage to remain relatively stable over the next 12 months, with modest improvement in coverage as earnings grow. Partially offsetting these strengths is a difficult consumer spending environment as consumers continue to face high inflation in key categories such as food, housing and insurance. The company also operates in a highly competitive sporting goods retail market, including direct to consumer efforts by major apparel and footwear brands and the continued shift toward online shopping. Sporting goods demand can also fluctuate, in part because of demand cycles in the firearms and ammunition, which Moody's estimates represents roughly 10% of Academy's sales. Academy's SGL-1 reflects its very good liquidity over the next 12 months. The company has a largely available $1.0 billion asset based revolving credit facility (unrated) which expires in 2029. In addition, Moody's estimates that the company will generate roughly $150-$200 million of free cash flow over the next 12 months. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The ratings could be upgraded if the company generates consistently positive same store sales, revenue and operating income growth while improving geographic diversification, maintaining very good liquidity and balanced financial policies. Quantitatively, the ratings could be upgraded with expectations for Moody's adjusted debt/EBITDA to be maintained below 2.25x and EBIT/interest expense sustained above 4.25x throughout economic cycles. The ratings could be downgraded if earnings or liquidity deteriorate or the company experiences material execution missteps. Aggressive financial strategy actions could also result in a downgrade. Quantitatively, the ratings could be downgraded if Moody's adjusted debt/EBITDA is maintained above 3.0x or EBIT/interest expense declines below 3.5x. Headquartered in Katy, Texas, Academy, Ltd. is a US sports, outdoor and lifestyle retailer with a broad assortment of hunting, fishing and camping equipment, along with footwear, apparel, and sports and leisure products. The company operates 322 stores under the Academy Sports + Outdoors banner, which are primarily located in Texas and the southeastern United States, and its website. It is a subsidiary of traded Academy Sports and Outdoors, Inc. (NASDAQ traded ASO). Academy generates approximately $6.1 billion in revenue. The principal methodology used in these ratings was Retail and Apparel published in September 2025. The net effect of any adjustments applied to rating factor scores or scorecard outputs under the primary methodology(ies), if any, was not material to the ratings addressed in this announcement. ACCORD LEASE: Amends Several Unsecureds & Secured Claims Pay ------------------------------------------------------------ Accord Lease, Inc., submitted a Third Amended Disclosure Statement in support of the Amended Plan dated April 27, 2026. The Debtor's Plan is a "10%" Plan, which means that all Unsecured Creditors will be paid 10% of their Allowed Claims within five years of the Effective Date in bi-annual payments and Secured Creditors will be paid the allowed amount of their secured claims over the course of 5 years. Class 7 consists of the Allowed Secured Claim of Infiniti Financial ("Infiniti") for a 2019 Infiniti QX50 ("QX50"). The QX50 was totaled in a car accident and the Debtor's insurance company will pay $11,151 for the value of the QX50. The Claim will be paid in full from the insurance proceeds. The Allowed Secured Claim of Infiniti will be discharged by the Plan. Class 23 consists of the Unsecured Deficiency Claims of Sumitomo Mitsui Finance & Leasing as determined by the Valuation Order. The Unsecured Claim will be paid 10 percent of the allowed unsecured claim payable in bi-annual payments over 5 years. The class is estimated to have claims of $93,281.77. The Allowed Class 23 Claim IS Impaired and is entitled to vote on the Plan. Class 26 Consists of the Allowed Unsecured Claim of Commercial Credit Group Inc. ("CCG"). CCG is the holder of an Allowed Class 16 Claim. Daimler filed Amended Poof of Claim 22 claiming a fully secured claim of $47,750.59. CCG repossessed the Equipment prepetition. Notwithstanding that Continental has had possession and has disposed of the claim it filed its claim as secured. The Debtor will file an objection to his claim and will treat the claim as unsecured. The Unsecured Claim will be paid 10 percent of the allowed unsecured claim payable in bi-annual payments over 5 years. Class 27 consists of the Claims that are all of the other Claims against the Debtor that are neither secured nor entitled to priority and the Debtor's Schedules in excess of $308,572.03 for this Class. This Class will be paid 10 percent of the allowed unsecured claim payable in bi-annual payments over 5 years. This Class payments will begin on the later of the Initial Distribution Date or July 31, 2026, and on each subsequent January 31 and July 31 ending on January 31, 2031, a total of ten percent of the allowed amount of their claims, in equal installments of one percent each, for a total of 10 payments. Class 28 consists of Equity Security Equity Holders. The 100% of the ownership of Igor Tsapar shall be canceled on the Effective Date of the Plan. on the Effective Date the Equity Interest holder shall pay to the Reorganized Debtor the sum of $10,000.00. This amount shall be the Debtor's New Value Contribution. The Source of the New Value Contribution will be from the Equity Interest Holders personal funds. The Debtor shall conduct an auction (the "Equity Auction") for the sale of 100% of the equity interests in the Reorganized Debtor to ensure that the New Value Contribution reflects the highest and best value available. Notice of the Equity Auction shall be served on all creditors and parties in interest and shall be published for three consecutive weeks in the Chicago Tribune. Any party seeking to submit a competing bid must deliver a written "Qualified Bid" to the Debtor no later than fourteen days prior to the Confirmation Hearing. Each Qualified Bid must (i) include the bidder's identity and contact information, (ii) provide evidence of the bidder's financial ability to consummate the transaction, and (iii) be accompanied by a cashier's check or wire transfer deposit in the amount of $15,000.00 (the "Deposit"). All Qualified Bids must exceed the initial New Value Contribution of $10,000.00. All offers and submissions of Deposits must be made on or before the 14th day before the Confirmation Hearing and sent to Debtor's counsel: O. Allan Fridman, 555 Skokie Blvd 500, Northbrook, IL 60062. The Equity Auction shall be conducted no later than seven days prior to the Confirmation Hearing, or on such other date as the Court may direct. Only parties who have submitted Qualified Bids shall be permitted to participate in the Equity Auction. At the conclusion of the Equity Auction, the Debtor shall determine, in the exercise of its business judgment, the highest and best offer (the "Winning Bid") based upon value, certainty of closing, and other relevant factors. Following the Equity Auction, the Debtor shall seek Bankruptcy Court approval of the Winning Bid. Upon entry of an order confirming the Plan and approving the Winning Bid, the Winning Bidder shall receive 100% of the equity interests in the Reorganized Debtor in exchange for payment of the Winning Bid amount, which shall constitute the New Value Contribution. If Igor Tsapar is not the Winning Bidder, he shall not be required to make the New Value Contribution, and his equity interests shall nevertheless be canceled on the Effective Date. As described, (a) Administrative Claims will be paid from the Debtor's cash on hand and future operations; (b) secured Classes will be paid from the Debtor's cash on hand and future earnings; (c) priority Classes will be paid from the funds on hand and in some cases from future earnings; and (d) unsecured Classes from the Debtor's future operations. In addition, the New Value Contribution may be used to fund Plan payments. A full-text copy of the Third Amended Disclosure Statement dated April 27, 2026 is available at https://urlcurt.com/u?l=tLmTqP from PacerMonitor.com at no charge. Counsel to the Debtor: O. Allan Fridman, Esq. 555 Skokie Blvd., Suite 500 Northbrook, IL 60062 Tel: (847) 412-0788 Email: allan@fridlg.com About Accord Lease Inc. Accord Lease Inc. operates an automotive leasing and renting business in Elgin, Ill. Accord Lease sought Chapter 11 bankruptcy protection (Bankr. N.D. Ill. Case No. 24-16518) on Nov. 1, 2024, listing total assets of $3,773,857 and total liabilities of $5,800,404. Igor Tsapar, president of Accord Lease, signed the petition. Judge David D. Cleary handles the case. O. Allan Fridman, Esq., at the Law Office of O. Allan Fridman, is the Debtor's legal counsel. BMO Bank N.A., as lender, is represented by: James P. Sullivan, Esq. Chapman and Cutler, LLP 320 South Canal Street Chicago, IL 60606 Tel: 312.845.3000 E-mail: jsullivan@chapman.com AHHC SERVICES: Commences Chapter 7 Bankruptcy in Florida -------------------------------------------------------- On April 29, 2026, Ahhc Services, LLC filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Southern District of Florida. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to between 1 and 49 creditors. About Ahhc Services, LLC Ahhc Services, LLC is a service-oriented company that provides support solutions, potentially including administrative, healthcare-related, or operational services depending on its business scope. Ahhc Services, LLC sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-15463) on April 29, 2026. In its petition, the Debtor reports estimated assets between $100,001 and $1,000,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Scott M. Grossman handles the case. The Debtor is represented by Chad T. Van Horn. ALASKA AIRLINES: S&P Rates New $500MM Senior Unsecured Notes 'BB-' ------------------------------------------------------------------ S&P Global Ratings assigned its 'BB-' issue-level rating and '3' recovery rating to Alaska Airlines Inc.'s proposed $500 million senior unsecured notes due 2031. The '3' recovery rating indicates its expectation for meaningful (50%-70%; rounded estimate: 65%) recovery in the event of a default. The company will use the proceeds from this issuance, which follows the announcement of its new loyalty program term loan issuance on May 4, 2026, for general corporate purposes and to strengthen its liquidity amid elevated fuel price volatility stemming from the Middle East war. S&P said, "We view the transaction as in line with management's goal of maintaining liquidity of about 15%-25% of trailing-12-month revenue. While the new notes will increase Alaska's gross interest expense by an estimated $35 million, we view the transaction as largely leverage neutral. We recently lowered our issuer credit rating on Alaska Air Group Inc. to 'BB-' to reflect our expectation for pressured metrics, including projected funds from operations to debt remaining below 30% through the end of this year." ISSUE RATINGS--RECOVERY ANALYSIS Key analytical factors -- S&P's recovery analysis includes Alaska Airline Inc.'s proposed new debt issuance and the most recently available valuations of its secured debt collateral and unencumbered assets. -- S&P assigned a '3' recovery rating to the proposed new unsecured notes, indicating its expectation for meaningful (50%-70%; rounded estimate: 65%) estimated recovery in its simulated default scenario. -- S&P rates the company's enhanced equipment trust certificates (EETCs) under different criteria than this recovery analysis. Simulated default assumptions -- S&P's analysis reflects Alaska Air Group's existing capital structure, which includes the secured debt collateralized by aircraft, slots, gates, and routes (SGRs), and other assets (EETCs, aircraft mortgages, and secured revolver), loyalty financing (existing and proposed variable-rate term loan and existing fixed-rate notes), and unsecured debt (proposed unsecured notes, payroll support program (PSP) debt, assumed lease rejections, and pari-passu deficiency claims on guaranteed secured debt). -- Alaska Air Group is the parent and guarantor of the existing and proposed loyalty debt, the EETCs, revolver, and proposed senior unsecured notes. S&P expects the company's unencumbered assets (including aircraft, cash, accounts receivable, and properties other than aircraft) to be available to support the recovery of the unsecured debt. -- S&P values the company on a discrete asset value (DAV) basis. -- S&P's valuations reflect its estimate of the value of the various assets at default based on net book value for current assets and appraisals for aircraft and SGRs that are adjusted for expected realization rates in a distressed scenario. -- S&P assumes the value of Alaska's loyalty program is captured within our DAV (hence, no incremental value is ascribed). S&P treats loyalty debt as a priority claim over the unsecured notes given the strategic importance of these assets, with loyalty term loan principal amortized to the default year. -- S&P said, "Our simulated default scenario assumes a default in 2030 triggered by adverse industry conditions combined with a recession or major outside shocks to the aviation industry. We expect Alaska would seek to reorganize through a Chapter 11 proceeding and emerge from bankruptcy as a going concern." Simplified waterfall -- Net enterprise value (after 5% administrative costs): $6.7 billion -- Valuation split (Alaska Air Group Inc./Alaska Airlines Inc./Hawaiian Airlines Inc./Horizon Air Industries Inc.): 24%/57%/13%/6% -- Net value available to Alaska Air Group (parent): $1.6 billion -- Net value available to Alaska Airlines: $3.8 billion -- Estimated loyalty and other secured debt claims at default: $4.8 billion -- Estimated unsecured claims (PSP, proposed notes) at default: $1.1 billion -- Net equity value (excess value after covering EETCs and aircraft mortgages) from Hawaiian Airlines and Horizon Air: $650 million -- Value available to unsecured claims (excess value after covering loyalty debt, EETCs, and aircraft mortgages): $1.2 billion -- Estimated total unsecured claims at default: $1.2 billion --Recovery expectations for senior unsecured notes: 50%-70% (rounded estimate: 65%) Notes: Debt amounts include six months of accrued interest that S&P assumes will be owed at default. In the event of estimated recovery above 70% on unsecured debt, it caps its recovery rating on debt issued by companies rated in the 'BB' category at '3'. ALETHA INC: Case Summary & 20 Largest Unsecured Creditors --------------------------------------------------------- Debtor: Aletha Inc. d/b/a Aletha Health d/b/a Anandamade LLC d/b/a Anandamade Inc 2872 Ygnacio Valley Road, #605 Walnut Creek, CA 94598 Business Description: Aletha Inc., doing business as Aletha Health and Anandamade, develops and sells self-care tools and wellness products for muscle release, mobility and physical therapy support. The Walnut Creek, California-based company's products include trigger-point and massage devices sold under brands including Hip Hook, Mark, Range and Orbit. Chapter 11 Petition Date: May 4, 2026 Court: United States Bankruptcy Court Northern District of California Case No.: 26-40950 Debtor's Counsel: Jeannie Kim, Esq. GOLDEN GOODRICH LLP 3070 Bristol Street, Suite 640 Costa Mesa, CA 92626 Tel: (714) 966-1000 Fax: (714) 966-1002 E-mail: jkim@go2.law Debtor's Financial Advisor: J.S. HELD, LLC Estimated Assets: $500,000 to $1 million Estimated Liabilities: $1 million to $10 million The petition was signed by Christine Annie as founder and sole director. A full-text copy of the petition, which includes a list of the Debtor's 20 largest unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/6CHERDY/Aletha_Inc__canbke-26-40950__0001.0.pdf?mcid=tGE4TAMA ALLBOUND CARRIER: Seeks Cash Collateral Access ---------------------------------------------- Allbound Carrier, Inc. asks the U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, for authority to use cash collateral and provide adequate protection. The Debtor, an Illinois-based trucking company operating through independent owner-operators, filed for bankruptcy on April 15, 2026, and continues to manage its business as a debtor-in-possession with oversight from a Subchapter V trustee. The Debtor explains that it remains operationally viable and current on most obligations but sought bankruptcy protection primarily to address a significant, unresolved workers' compensation claim arising from a driver accident. The cash collateral is primarily freight revenue and accounts receivable that are subject to a lien held by the U.S. Small Business Administration. The SBA extended a loan of approximately $150,000 to the debtor in 2020, secured by a blanket lien on all business assets, including receivables and cash, and that loan remains current with a balance of about $153,205. Because all incoming revenue constitutes cash collateral, the Debtor cannot continue operations without court authorization to use these funds. Without such access, the company would be unable to pay owner-operators (who receive 85% of freight revenue), meet payroll, cover fuel and insurance costs, or maintain regulatory compliance—circumstances that would quickly halt operations and destroy the business’s going-concern value. To address this, the Debtor proposes using cash collateral in accordance with a six-week budget that outlines projected income and necessary expenses, with limited allowable variances. In exchange, the Debtor offers the SBA adequate protection measures designed to preserve its secured position. These include continuing regular monthly loan payments of approximately $731, granting the SBA a replacement lien on all post-petition assets to the extent of any decline in collateral value, providing ongoing financial reporting, and adhering to the approved budget. A copy of the motion is available at https://urlcurt.com/u?l=2eSKOP from PacerMonitor.com. Allbound Carrier Inc. Allbound Carrier, Inc. is an Illinois-based trucking company operating through independent owner-operators. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-06532) on April 15, 2026. In the petition signed by Blagoj Srbinov, president, the Debtor disclosed up to $1 million in assets and up to $500,000 in liabilities. David P Leibowitz, Esq., at Law Offices of David P Leibowitz, LLC, represents the Debtor as legal counsel. ALLEN MEDIA: OFS Capital Marks $3.6MM 1L Loan at 25% Off -------------------------------------------------------- OFS Capital Corp. has marked its $3,642,000 loan extended to Allen Media, LLC to market at $2,746,000 or 75% of the outstanding amount, according to OFS Capital's 10-Q for the period ended March 31, 2026, filed with the U.S. Securities and Exchange Commission on May 1, 2026. OFS Capital Corp. is a participant in a first lien loan extended to Allen Media, LLC. The 1L Loan accrues interest at a rate of 9.35% SOFR+5.50% per annum. The 1L Loan matures on Feb. 10, 2027. OFS Capital Corp. is a business development company that provides debt and equity financing solutions to middle-market companies in the United States. The Fund is led by Bilal Rashid as Chief Executive Officer and Kyle Spina as Chief Financial Officer. The Fund can be reached at: Bilal Rashid OFS Capital Corporation 222 W. Adams Street, Suite 1850 Chicago, IL 60606 Telephone: (847) 734-2000 About Allen Media, LLC Allen Media, LLC is a cable and other subscription programming company that provides television and related content to pay-TV and streaming distributors. AMERICAN HEALTH: Hires Shraiberg Page P.A. as Bankruptcy Counsel ---------------------------------------------------------------- merican Health Associates Holdings, Inc. and affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Florida to hire Shraiberg Page P.A. as its general bankruptcy counsel. The firm will provide these services: (a) advise the Debtors generally regarding matters of bankruptcy law in connection with this case; (b) advise the Debtors of the requirements of the Bankruptcy Code, the Federal Rules of Bankruptcy Procedure, applicable bankruptcy rules, including local rules, pertaining to the administration of the case and U.S. Trustee Guidelines related to the daily operation of its business and administration of the estate; (c) represent the Debtors in all proceedings before this Court; (d) prepare and review motions, pleadings, orders, applications, adversary proceedings, and other legal documents arising in this case; (e) negotiate with creditors, prepare and seek confirmation of a plan of reorganization and related documents, and assist the Debtors with implementation of any plan; and (f) perform all other legal services for the Debtors which may be necessary. The firm's attorneys will charge hourly rates of $425 to $750 for attorneys and $350 for legal assistants. The hourly rate of Bradley S. Shraiberg, Esq. is $750. Prior to the petition date, the firm received a retainer of $126,000. Bradley Shraiberg, Esq., a partner at Shraiberg Page P.A., disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Bradley S. Shraiberg, Esq. Shraiberg Page P.A. 2385 NW Executive Center Drive, #300 Boca Raton, FL 33431 Tel: (561) 443-0800 Fax: (561) 998-0047 Email: bss@slp.law About American Health Associates Holdings Inc. Headquartered in Davie, Florida, American Health Associates Holdings, Inc. provides clinical laboratory services, mobile phlebotomy, mobile imaging and care-at-home diagnostic services for the long-term care market. Founded more than 30 years ago by Debbie Martin, a respiratory therapist, American Health Associates Holdings serves skilled nursing facilities, nursing homes, hospitals and physician offices, and operates 16 full-service reference laboratories nationwide. It serves more than 3,000 long-term care facilities across the U.S. American Health Associates Holdings and 12 affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Lead Case No. 26-14825) on April 17, 2026. In the petition signed by Christopher Martin, president, American Health Associates Holdings disclosed up to $50 million in both assets and liabilities. Judge Scott M. Grossman oversees the cases. Bradley S. Shraiberg, Esq., at Shraiberg Page P.A., represents the Debtors as legal counsel. AMIREPAIR I INC: Taps Lisa Noxon Holder as Bankruptcy Counsel ------------------------------------------------------------- Amirepair I, Inc., dba Precision Automotive Paint & Collision seeks approval from the U.S. Bankruptcy Court for the Eastern District of California to hire Lisa Noxon Holder, PC as bankruptcy counsel. The firm's services include: a. preparation and filing of schedules, statements, and other required bankruptcy documents; b. analysis of estate administration issues; c. cash collateral, financing, adequate protection, and use of property issues, if any; d. negotiation with creditors and parties in interest; e. plan and disclosure statement issues; and f. general bankruptcy advice and representation during the Chapter 11 case. The firm's current hourly rates are: Attorneys $350 Paralegals $100 Lisa Noxon Holder, PC is a "disinterested person" within the meaning of 11 U.S.C. Sec. 101(14) and does not hold or represent an interest adverse to the estate, according to court filings. The firm can be reached through: Lisa Anne Holder, Esq. Lisa Noxon Holder, PC 2601 Kilcarey Ct. Bakersfield, CA 93306 Phone: (661) 205-2385 Email: Lholder@Lnhpc.com About Amirepair I Inc. Amirepair I, Inc., doing business as Precision Automotive Paint & Collision, is a Nevada-based company operating an automotive repair, paint, and collision shop in Lake Isabella, California. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Cal. Case No. 26-11617) on April 10, 2026. In the petition signed by Ashley Miller, president, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Jennifer E. Niemann oversees the case. Lisa Holder, Esq., at Lisa Noxon Holder, PC, represents the Debtor as legal counsel. AP CORE II: Fitch Assigns 'B+' Rating on Senior Secured Debt ------------------------------------------------------------ Fitch Ratings has assigned AP Core Holdings' (dba Yahoo) proposed $1.6 billion in senior secured debt issuances due 2031 a rating of 'B+' and a Recovery Rating of 'RR3'. Yahoo's Long-Term Issuer Default Rating (IDR) remains at 'B' with a Stable Outlook. Proceeds from this issuance will repay $1.6 billion of existing senior secured debt due in 2027. The proposed issuance is comprised of a $900 million Term Loan B and $700 million of other secured debt. The transaction is leverage neutral and extends Yahoo's term loan and $150 million revolving credit facility maturity to 2031. The rating reflects Yahoo's improved EBITDA generation following the successful execution of sales initiatives and refreshed digital properties. Despite operating in a competitive space, Yahoo has maintained an established position through category-leading properties, including Finance, Sports, News and Mail. Key Rating Drivers Better Earnings, Improving Leverage: Fitch expects Yahoo's EBITDA to steadily improve over the next 12-24 months. This expected improvement will be driven by successful execution of initiatives to relaunch and modernize core digital properties and build-out of a new sales team in early 2025. Together, these initiatives should support stronger top-line performance than Fitch previously anticipated. Yahoo faced some operational challenges during its AdTech migration in 2023 and 2024, but performance rebounded sharply in 2025. As a result, Fitch expects EBITDA leverage to stabilize at about 3.0x over the medium term. Refinancing Credit Positive: Yahoo is refinancing its debt and extending its senior secured term loan and revolving credit facility maturities by five years. The recent improvement in the company's earnings profile has resulted in improved EBITDA leverage. Yahoo's established portfolio of digital properties continues to attract strong traffic, which supports the refinancing. Well Positioned in a Competitive Space: The digital advertising market remains competitive and fragmented. Dominant platforms such as Meta and Google capture a significant share. Yahoo has maintained an established position through its portfolio of category-leading properties, including Finance, Sports, News and Mail. These platforms benefit from strong brand recognition, high quality traffic and a loyal, recurring user base. This should support monetization efforts. Competitive pressures may limit share gains over the medium to long term. However. Yahoo's ecosystem and direct users should support its ability to remain competitive. Modest AI Risk: AI driven search and large language models present potential long-term disintermediation risks for digital publishers. However, Yahoo's high proportion of direct traffic and sizeable logged-in user base provide relative insulation compared with peers reliant on search traffic. Core properties such as Finance, Sports, News and Mail attract repeat visitation and support continued durable user engagement. AI may also present incremental opportunities for digital publishers, as industry participants increasingly enter commercial partnerships with large AI-platforms, partially offsetting long-term structural risks. Peer Analysis Red Ventures' 'B+' ratings and Stable Outlook reflect its prominent role in digital marketing as a service provider, leveraging proprietary technology and data analytics to drive customer acquisition for clients. Strategic acquisitions have bolstered scale. Red Ventures generates robust and consistent FCF due to high operating leverage and minimum capex requirements. Yahoo's EBITDA generation was challenged in the recent past due to technological transitions. However, Fitch believes this is mostly resolved. Both entities are likely to be rated at the same level if Yahoo sustains its current earnings recovery trajectory. USA TODAY's (fka Gannett) 'B-'/Stable rating reflects its position as one of the nation's largest print and digital media brands, with a well-established presence in the U.K. The rating is constrained by the continued structural decline of its print business, while its digital offerings face meaningful competition in each of its end-markets. Yahoo has a relatively better business risk profile, and its financial risk profile has also materially improved, leading to a rating a notch above USA TODAY's. Fitch’s Key Rating-Case Assumptions - Mid to high single digit revenue growth in 2026 driven by higher yield optimization supported by the company's investments into their digital assets; - EBITDA margins of around 12% over the medium term supported by a healthy topline and efficient cost structure; - Capex spend of around $240 million in 2026 and 2027; - No M&A or shareholder returns. Corporate Rating Tool Inputs and Scores Fitch scored the issuer as follows, using its Corporate Rating Tool (CRT) to produce the Standalone Credit Profile (SCP): - Business and financial profile factors (assessment, relative importance): Management (bbb-, Lower), Sector Characteristics (b, Higher), Market and Competitive Positioning (b+, Moderate), Diversification and Asset Quality (b+, Moderate), Company Operational Characteristics (b+, Moderate), Profitability (b+, Moderate), Financial Structure (b, Higher), and Financial Flexibility (b, Moderate). - The quantitative financial subfactors are based on standard CRT financial period parameters: 20% weight for the latest historical year 2025, 40% for the forecast year 2026 and 40% for the forecast year 2027. - B+ to CC considerations apply in its analysis and result in no adjustment. - The Governance assessment of 'Good' results in no adjustment. - The Operating Environment assessment of 'aa-' results in no adjustment. - The SCP is 'b'. Recovery Analysis The recovery analysis assumes that Yahoo would be reorganized as a going-concern in bankruptcy rather than liquidated. Fitch has assumed a 10% administrative claim and that accounts receivable securitization is drawn down by 80%. The revolver is drawn in full. Fitch assumes substantial revenue declines driven by continued advertising weakness as Yahoo is unable to offset competitive threats and its efforts to refresh its product offerings are unsuccessful. Fitch also assumes the company is unable to quickly reduce costs. As a result, GC EBITDA declines to around $250 million. Fitch's GC EBITDA estimate reflects its view of a sustainable, post-reorganization EBITDA level upon which Fitch bases the enterprise valuation. This considers that the company's investment efforts into its digital assets would not be able to offset the competitive pressures it currently faces, resulting in lower earnings. Fitch assumes AP Core will receive a going-concern recovery EV multiple of 6.0x GC EBITDA. The multiple is higher than Red Ventures and linear heavy USA TODAY. It is also mostly in line with Fitch's median TMT emergence multiple of 5.5x. The recovery analysis results in a 'B+/RR3' instrument and recovery rating for the company's secured first lien debt, which corresponds to a notch above the company's IDR of 'B'. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - EBITDA leverage sustained above 5.5x; - A sustained deterioration in the earnings profile due to intense competition or technological challenges. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - EBITDA leverage sustained below 3.5x; - EBITDA margins sustained above 12.5%; - Continued expansion of FCF over the rating horizon. Liquidity and Debt Structure As of end-December 2025, Yahoo had total liquidity sources of $491 million comprised of $341 million in pro-forma unrestricted cash and $150 million available under its undrawn revolving credit facility. This bodes well compared to just $77 million of contractual obligations due within the next 12-months. Fitch expects Yahoo to successfully refinance and extend the maturities of its term loan and revolvers, which are due in 2027. FCF is expected to be positive over the next 12-18 months, and should further support liquidity. According to the company filings, Yahoo is in compliance with its covenants. Issuer Profile Yahoo offers Internet search, mail, news, finance, sports, entertainment, content, subscription and e-commerce to consumers and digital advertising to businesses. Date of Relevant Committee 15 April 2026 MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS Fitch's latest quarterly Global Corporates Sector Forecasts Monitor data file which aggregates key data points used in its credit analysis. Fitch's macroeconomic forecasts, commodity price assumptions, default rate forecasts, sector key performance indicators and sector-level forecasts are among the data items included. ESG Considerations The highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. Entity/Debt Rating Recovery ----------- ------ -------- AP Core Holdings II, LLC senior secured LT B+ New Rating RR3 APPLE TREE: Plan Exclusivity Period Extended to Sept. 8 ------------------------------------------------------- Judge Laurie Selber Silverstein of the U.S. Bankruptcy Court for the District of Delaware extended Apple Tree Life Sciences, Inc. and affiliates' exclusive periods to file a plan of reorganization and obtain acceptance thereof to Sept. 8 and Nov. 5, 2026, respectively. As shared by Troubled Company Reporter, the Debtors explain that the Chapter 11 Cases are sufficiently large and complex to warrant the requested extension of the Exclusive Periods. As discussed in the First Day Declarations, the Debtors and their non-debtor affiliates comprise a biotechnology venture capital enterprise operating and investing in the United States. The Partnership, subject to the Cayman Islands Exempted Limited Partnership Act, operates as the investment fund through its general partner. The complexity of the issues addressed, and the time, effort, and planning required to obtain the progress made thus far cannot be overstated. The Debtors claim that while discussions with Rigmora to reach a consensual resolution of the disputes have yet to bear fruit, the companies remain hopeful that a consensual resolution can be reached. Given the significant outside investor interest expressed to date, the Debtors are confident that the Debtors can be successfully reorganized while providing all limited partners with fair and optimal returns for their limited partnership interests. Accordingly, the Debtors submit that this factor weighs in favor of extending the Exclusive Periods. The Debtors assert that the requested extension of the Exclusive Periods will not prejudice the legitimate interests of postpetition creditors, as the Debtors continue to make timely payments on their undisputed postpetition obligations, at least for now. The only impediment to funding post-petition obligations remains Rigmora's opposition to the use of the funds in the Specific Performance Account which will more than cover the Debtors' post-petition expenses provided that the plan process gets underway. As such, this factor also weighs in favor of allowing the Debtors to extend the Exclusive Periods. The Debtors further assert that they have no ulterior motive in seeking an extension of the Exclusive Periods. The Debtors have worked diligently over the past few months to preserve their estates during the pendency of the Chapter 11 Cases, and require the extension sought by this Motion to ensure that they are able to seek confirmation of the Plan without any unnecessary distractions that would be caused by competing plans. The Debtors are not seeking an extension to pressure creditors or other parties in interest. Proposed Counsel to the Debtors: Andrew M. Berdon, Esq. Patricia B. Tomasco, Esq. Rachel E. Epstein, Esq. Alain Jaquet, Esq. Rachel Harrington, Esq. QUINN EMANUEL URQUHART & SULLIVAN, LLP 295 5th Avenue, 9th Floor New York, NY 10016 Telephone: (212) 849-7000 Facsimile: (212) 849-7100 Email: andrewberdon@quinnemanuel.com pattytomasco@quinnemanuel.com rachelepstein@quinnemanuel.com alainjaquet@quinnemanuel.com rachelharrington@quinnemanuel.com - and - Eric D. Winston, Esq. Razmig Izakelian, Esq. Benjamin Roth, Esq. QUINN EMANUEL URQUHART & SULLIVAN, LLP 865 S. Figueroa Street, 10th Floor Los Angeles, CA 90017 Telephone: (213) 443-3000 Facsimile: (213) 443-3100 Email: ericwinston@quinnemanuel.com razmigizakelian@quinnemanuel.com benroth@quinnemanuel.com Counsel to the Debtors: L. Katherine Good, Esq. Brett M. Haywood, Esq. Shannon A. Forshay, Esq. Ethan H. Sulik, Esq. POTTER ANDERSON & CORROON LLP 1313 N. Market Street, 6th Floor Wilmington, DE 19801 Telephone: (302) 984-6000 Facsimile: (302) 658-1192 E-mail: kgood@potteranderson.com bhaywood@potteranderson.com sforshay@potteranderson.com esulik@potteranderson.com About Apple Tree Life Sciences Apple Tree Life Sciences, Inc., legally known as Apple Tree Life Sciences, Inc., is a life sciences venture capital firm that forms and invests in healthcare and biotechnology companies from early stage concepts through public market offerings. The firm provides flexible capital and works with venture partners and entrepreneurs-in-residence to develop research-driven enterprises in the therapeutics sector. Its activities span company creation at stages ranging from pre -intellectual-property ideas to asset spinouts. Apple Tree Life Sciences, Inc. and affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 25-12177) on Dec. 9, 2025. In its petition, the Debtor reports estimated liabilities between $1 billion and $10 billion estimated liabilities between $100,000 and $500,000. Bankruptcy Judge Laurie Selber Silverstein handles the case. The Debtors' General Bankruptcy Co-Counsel is POTTER ANDERSON & CORROON LLP. The Debtors' General Bankruptcy Co-Counsel is QUINN EMANUEL URQUHART & SULLIVAN, LLP. The Debtors' Financial & Restructuring Advisor is B. RILEY. The Debtors' Cayman Law Counsel is WALKERS. AUTOMOTIVE OUTFITTERS: Case Summary & Eight Unsecured Creditors --------------------------------------------------------------- Debtor: Automotive Outfitters, LLC d/b/a Trucked Up f/d/b/a Line-X of Rome 20 Arumuchee Connector Rome, GA 30161 Business Description: Automotive Outfitters, LLC, doing business as Trucked Up, provides automotive outfitting and aftermarket vehicle services in Rome, Georgia. The company's work includes vehicle customization, off-road upfits, tires and related automotive projects, serving vehicle owners and customers seeking truck, off-road and automotive accessory services. Chapter 11 Petition Date: May 4, 2026 Court: United States Bankruptcy Court Northern District of Georgia Case No.: 26-40728 Judge: Hon. Barbara Ellis-Monro Debtor's Counsel: Paul Reece Marr, Esq. PAUL EECE MARR, P.C. 6075 Barfield Road, Suite 213 Sandy Springs, GA 30328-4402 Tel: (770) 984-2255 Fax: (678) 623-5109 E-mail: paul.marr@marrlegal.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Steven William Irmscher as co-manager. 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/J2WLLFY/Automotive_Outfitters_LLC__ganbke-26-40728__0001.0.pdf?mcid=tGE4TAMA AVISON YOUNG: OFS Capital Marks $327,000 1L Loan at 18% Off ----------------------------------------------------------- OFS Capital Corp has marked its $327,000 loan extended to Avison Young Inc. to market at $269,000 or 82% of the outstanding amount, according to OFS Capital's 10-Q for the period ended March 31, 2026, filed with the U.S. Securities and Exchange Commission on May 1, 2026. OFS Capital Corp is a participant in a first lien debt extended to Avison Young Inc. The 1L Loan accrues interest at a rate of 4.90% cash / 6.50% PIK SOFR+7.50% per annum. The 1L Loan matures on March 12, 2029. OFS Capital Corp is a business development company that provides debt and equity financing solutions to middle-market companies in the United States. The Fund is led by Bilal Rashid as Chief Executive Officer and Kyle Spina as Chief Financial Officer. The Fund can be reached at: Bilal Rashid OFS Capital Corporation 222 W. Adams Street, Suite 1850 Chicago, IL 60606 Telephone: (847) 734-2000 About Avison Young Inc. Avison Young Inc. is a nonresidential property manager that oversees and operates commercial real estate assets for landlords and investors. B&R EQUIPMENT: Hires Allman Kight Hester LLC as Bankruptcy Counsel ------------------------------------------------------------------ B&R Equipment, Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Indiana to hire Allman Kight Hester LLC as counsel. The firm's services include: (a) giving the Debtors legal advice with respect to their powers and duties as debtors-in-possession and management of their property; (b) taking necessary action to avoid the attachment of any lien against the Debtors’ property threatened by secured creditors holding liens; (c) preparing on behalf of the Debtors as debtors-in-possession necessary petitions, answers, orders, reports, and other legal papers; and (d) performing all other legal services for the Debtors as debtors-in-possession which may be necessary, inclusive of the preparation of petitions and orders respecting the sale or release of equipment not found to be necessary in the management of their property; filing petitions and orders for the borrowing of funds; and actions necessary for the Debtors as debtors-in-possession to employ counsel for such professional services. The firm's standard hourly rates are: John J. Allman, Attorney $500 Andrew T. Kight, Attorney $500 Jeffrey M. Hester, Attorney $500 Donna Adams, Paraprofessional $250 Tricia Hignight, Paraprofessional $250 Marsha Hetser, Paraprofessional $250 The firm received an initial retainer prior to the filing of these cases in the sum of $100,000. As disclosed in the court filings, Allman Kight Hester LLC is a "disinterested person" within the meaning of 11 U.S.C. Sec. 101(14). The firm can be reached through: Jeffrey M. Hester, Esq. Andrew T. Kight, Esq. ALLMAN KIGHT HESTER LLC The Lacy Building 54 Monument Circle, Suite 501 Indianapolis, IN 46204 Telephone: (317) 608-1129 Email: jhester@akhlaw.com akight@akhlaw.com About B&R Equipment, Inc. B&R Equipment, Inc. operates as a dealer of used agricultural and construction equipment based in Martinsville, Indiana, supplying tractors, harvesters, trucks, and related machinery from multiple brands. Established in 1994, the family-owned company serves farmers and agricultural operators seeking pre-owned equipment. B&R Equipment, Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Banker. S.D. Ind. Case No. 26-02155) on April 9, 2026, listing $10 million to $50 million on both assets and liabilities. The petition was signed by Robert T. Lee as president. Judge Jeffrey J Graham presides over the case. Jeffrey Hester, Esq. at ALLMAN KIGHT HESTER LLC serves as the Debtor's counsel. BAKER & TAYLOR: Stringer Loses Bid for Automatic Stay Relief ------------------------------------------------------------ Judge Pamela A. Baker of the U.S. District Court for the Northern District of Ohio denied Vickie M. Stringer's motion for relief from automatic stay pursuant to 11 U.S.C. Sec. 362(d) and to reopen the case captioned as Vickie M. Stringer, Plaintiff, -vs- Baker & Taylor, LLC, Defendants, Case No. 1:25-cv-01703-PAB (N.D. Ohio). On March 18, 2026, the Court stayed this case pursuant to 11 U.S.C. Sec. 362. The Court lacks jurisdiction to lift the automatic stay. The bankruptcy court has exclusive jurisdiction to grant relief from the stay. If plaintiff believes she is entitled to relief from the automatic stay, she must present her request to the bankruptcy court. A copy of the Court's Memorandum Opinion & Order dated April 30, 2026, is available at https://urlcurt.com/u?l=K5elt9 from PacerMonitor.com. About Baker & Taylor LLC Baker & Taylor LLC is a leading distributor of books, digital content, and entertainment products in the United States. Baker & Taylor sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. N.J. Case No. 26-12863) on March 18, 2026. In its petition, the Debtor reports estimated assets between $1 million and $10 million and estimated liabilities between $100 million and $500 million. The Debtor is represented by Paul J. Winterhalter, Esq. of Offit Kurman. BANNER CHEMICAL: Gets Interim OK to Use Cash Collateral ------------------------------------------------------- Banner Chemical Corp. received interim approval from the U.S. Bankruptcy Court for the District of New Jersey to use cash collateral. Under the interim order, the Debtor is authorized to use cash collateral to pay the expenses set forth in its budget, subject to a 10% variance. The Debtor's cash collateral consists of funds subject to a first priority lien held by Citizens Bank and a second priority lien held by the U.S. Small Business Administration. Citizens Bank holds a lien tied to a 2014 loan later assumed by the bank, with a total claim of about $508,000, of which only $100,000 is secured and the balance unsecured. Meanwhile, the SBA holds a junior lien securing a $150,000 loan made in 2020 but is effectively fully undersecured due to Citizens Bank's senior lien. As protection for the Debtor's use of their cash collateral, both lenders will be granted replacement liens on the Debtor's property, subject and subordinate only to the fee carveout and any existing lien senior to the lenders' pre-petition liens. In addition, Citizens Bank will receive $1,980 in monthly payments. The Debtor's authority to use cash collateral terminates upon dismissal or conversion of the Chapter 11 case; noncompliance with the interim order; or entry of an order modifying or reversing the interim order without both lenders' prior consent. The order is available at https://is.gd/zOiMAT from PacerMonitor.com. The final hearing is set for May 19. Objections are due by May 12. Banner Chemical has operated in the cleaning and maintenance products industry for decades and now focuses on distribution, e-commerce fulfillment, and light finishing of non-hazardous household products. It filed for bankruptcy on April 13 and remains in possession of its assets while managing operations. About Banner Chemical Corp. Banner Chemical Corp. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. New Jersey Case No. 26-14051) on April 13, 2026. At the time of the filing, the Debtor reported assets of up to $50,000 and liabilities of between $500,001 and $1 million. The Debtor tapped McManimon, Scotland & Baumann, LLC as legal counsel and Vestcorp, LLC as accountant. BAYMARK HEALTH: OFS Capital Virtually Writes Off $8.9M 2L Loan -------------------------------------------------------------- OFS Capital Corp has marked its $8,950,000 million loan extended to BayMark Health Services, Inc. to market at $45,000 or 1% of the outstanding amount, according to OFS Capital’s 10-Q for the period ended March 31, 2026, filed with the U.S. Securities and Exchange Commission on May 1, 2026. OFS Capital Corp is a participant in a second lien debt extended to BayMark Health Services, Inc. The 2L Loan accrues interest at a rate of 14.46%, SOFR + 10.50% per annum. The 2L Loan matures on June 11, 2028. OFS Capital Corp is a business development company that provides debt and equity financing solutions to middle-market companies in the United States. The Fund is led by Bilal Rashid as Chief Executive Officer and Kyle Spina as Chief Financial Officer. The Fund can be reached at: Bilal Rashid OFS Capital Corporation 222 W. Adams Street, Suite 1850 Chicago, IL 60606 Telephone: (847) 734-2000 About BayMark Health Services, Inc. BayMark Health Services, Inc. operates outpatient mental health and substance abuse treatment centers, providing behavioral health and addiction recovery services. BBBB GP LLC: Voluntary Chapter 11 Case Summary ---------------------------------------------- Debtor: BBBB GP LLC 27631 Riata Ranch Dr San Antonio TX 78261 Business Description: BBBB GP LLC is primarily engaged in renting and leasing real estate properties. Chapter 11 Petition Date: May 4, 2026 Court: United States Bankruptcy Court Western District of Texas Case No.: 26-51210 Debtor's Counsel: R.J. Shannon, Esq. SHANNON LEE BEATTY LLP 2100 Travis St. Ste 1525 Houston TX 77002 Tel: (346) 535-0515 E-mail: rshannon@shannonleellp.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Robert Black as president. The Debtor did not include a list of its 20 largest unsecured creditors with the petition. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/IZNZM2I/BBBB_GP_LLC__txwbke-26-51210__0001.0.pdf?mcid=tGE4TAMA BIOTRICITY INC: Holders Swap Stock, Options, Warrants for Preferred ------------------------------------------------------------------- Biotricity Inc. entered exchange agreements May 1 with holders who exchanged common stock, options and warrants for about 1.96 million shares of newly created Series C preferred stock, according to a filing with the Securities and Exchange Commission. The company said the holders, including officers and directors, exchanged 14.14 million common shares, options to buy 3.99 million shares and warrants to buy 1.44 million shares. Biotricity designated 2.1 million shares as Series C preferred stock, with each share carrying 40 votes. The preferred shares will automatically convert into an aggregate of 59.6% of the company's outstanding common stock if Biotricity closes an offering of equity securities with gross proceeds of at least $15 million. If Biotricity issues warrants in the qualified financing, Series C holders also will receive warrants in the same form and ratio to the conversion shares as the warrant coverage in the financing. If a qualified financing is not completed by March 31, 2028, Series C holders may convert each preferred share into 10 common shares. About Biotricity Biotricity Inc. is a medical technology company based in Redwood City, California, that develops remote patient monitoring and diagnostic products for cardiac care. The company provides devices and services intended to support chronic-care management, cardiac monitoring and related clinical workflows. In an audit report for the year ended March 31, 2025, SRCO Professional Corporation included a going-concern explanatory paragraph citing that the company has incurred recurring losses from operations, has negative cash flows from operating activities, working capital deficiency and has an accumulated deficit that raise substantial doubt about its ability to continue as a going concern. As of Dec. 31, 2025, the company reported total assets of $5.69 million, total liabilities of $38.21 million, and a total stockholders' deficiency of $34.24 million. BLUE ONYX: Iana Vladimirova Named Subchapter V Trustee ------------------------------------------------------ The U.S. Trustee for Region 5 appointed Iana Vladimirova as Subchapter V trustee for Blue Onyx Systems LLC. Ms. Vladimirova will be compensated at $465 per hour for her services as Subchapter V trustee and will be reimbursed for work related expenses incurred. Ms. Vladimirova declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Iana A. Vladimirova Stafford Rosenbaum 222 West Washington Avenue, Suite 900 Madison, Wisconsin 53701-1784 608.259.2639 (Phone) 608.259.2600 (Fax) ivladimirova@staffordlaw.com About Blue Onyx Systems LLC Blue Onyx Systems, formerly known as IAS, is a New Berlin, Wisconsin-based provider of industrial automation systems, designing and integrating equipment for manufacturing environments. The company, founded by Paul Szeflinski and a KUKA System Partner since 2008, develops solutions that incorporate robotics in a majority of its systems. Its services include custom machine design, equipment upgrades, remote support, maintenance programs, and training, serving customers across industries such as consumer products, food and beverage, rubber and plastics, metal processing, and warehousing and logistics. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Wis. Case No. 26-22269) on April 22, 2026, with $1 million to $10 million in assets and liabilities. Bryan Brisch, authorized representative, signed the petition. Judge G. Michael Halfenger presides over the case. Nicholas W. Kerkman, Esq. at KERKMAN & DUNN represents the Debtor as legal counsel. BLUE ONYX: Seeks to Hire Kerkman & Dunn as General Counsel ---------------------------------------------------------- Blue Onyx Systems, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Wisconsin to hire Kerkman & Dunn as its general counsel. The firm will render these services: (a) advise and assist the Debtor with respect to its duties and powers under the Bankruptcy Code; (b) advise the Debtor on the conduct of its chapter 11 case, including the legal and administrative requirements of operating in chapter 11; (c) attend meetings and negotiate with representatives of the creditors and other parties in interest; (d) prosecute actions on behalf of the Debtor, defend actions commenced against the Debtor, and represent the Debtor's interests in negotiations concerning litigation in which the Debtor is involved, including objections to claims filed against the Debtor's estate; (e) prepare pleadings in connection with the Debtor's chapter 11 case including motions, applications, answers, orders, reports, and papers necessary or otherwise beneficial to the administration of the Debtor's estate; (f) advise the Debtor in connection with any potential sale of assets; (g) appear before the Court to represent the interests of the Debtor's estate; (h) assist the Debtor in preparing, negotiating and implementing a plan, and advising with respect to any rejection of a plan and reformulation of a plan, if necessary; (i) assist and advise the Debtor in state court actions related to judgments and collection actions initiated by or against the Debtor that are necessary for an effective reorganization; and (j) perform all other necessary or appropriate legal services for the Debtor in connection with the prosecution of the chapter 11 case, including (i) analyzing the Debtor's leases and contracts, and the assumption and assignment or rejection of them, (ii) analyzing the validity of liens against the Debtor, and (iii) advising the Debtor on transactional and litigation matters. The firm will be paid at these hourly rates: Jerome R. Kerkman $625 Evan P. Schmit $525 Nicholas W. Kerkman $350 Tyler M. Jones $315 Non-Attorney Paraprofessionals $125 As disclosed in the court filings, Kerkman & Dunn is a "disinterested person" within the meaning of Sec. 101(14) of the Bankruptcy Code as required by Sec. 327(a), and does not hold or represent an interest adverse to the Debtor's estate. The firm can be reached through: Nicholas W. Kerkman, Esq. Kerkman & Dunn 839 N. Jefferson St., Suite 400 Milwaukee, WI 53202-3722 Telephone: (414) 277-8200 Facsimile: (414) 277-0100 Email: nkerkman@kerkmandunn.com About Blue Onyx Systems LLC Blue Onyx Systems, LLC designs and manufactures industrial automation equipment. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Wisc. Case No. 26-22269) on April 22, 2026. In the petition signed by Bryan Brisch, authorized representative, the Debtor disclosed up to $10 million in both assets and liabilities. Nicholas W. Kerkman, Esq., at Kerkman & Dunn, represents the Debtor as legal counsel. Old National Bank, as secured lender, is represented by: Christopher J. Schreiber, Esq. Michael Best & Friedrich, LLP 790 N. Water Street, Suite 2500 Milwaukee, WI 53202 Telephone: (414) 225-8284 Email: cjschreiber@michaelbest.com BOND US BIDCO 1: Moody's Rates New Sr. Secured Notes Due 2033 'B2' ------------------------------------------------------------------ Moody's Ratings assigns B2 instrument ratings to the USD and EUR tranches of the proposed fixed rate backed senior secured notes (SSNs) due 2033. The notes will be issued by Bond US BidCo 1 Inc., and co-issued by Bond US BidCo 2 Inc., Bond US BidCo 3 Inc., Bond German BidCo 1 GmbH, and Bond German BidCo 2 GmbH. RATINGS RATIONALE The B2 ratings of the proposed SSNs have been aligned with the B2 corporate family rating of Bond UK MidCo 3 Ltd (Bond UK) and the B2 rated backed senior secured term loan Bs (TLB) issued by Bond US Bidco 1 Inc. as the instruments all share the same guarantors and the same security, a first lien all asset pledge and rank pari passu amongst each other. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Moody's could upgrade the ratings if EBITDA improvements support deleveraging of debt to EBITDA below 5.0x; EBITDA/interest above 2.5x; and FCF to debt approached the high single digits (%). Conversely, Moody's could downgrade ratings if Bond UK does not establish a clear deleveraging trend towards 6.0x by mid-2028 and if gross leverage were to materially deviate from Moody's assumptions. Weakening liquidity, including negative FCF, as well as acquisitions that result in a material increase in leverage or execution risk could also pressure the rating down. All on a sustained basis; metric reference is Moody's-adjusted. The principal methodology used in these ratings was Chemicals published in February 2026. COMPANY PROFILE Bond UK in 2025 generated preliminary revenues of around EUR3.9 billion and total pro-forma adjusted EBITDA (excluding cost savings) of EUR760 million. Bond UK comprises of three core segments: ECO – Automotive OEM Coatings; accounting for 50% of 2025 revenues and serving global automotive manufacturers; ECR – Automotive Refinish Coatings; accounting for around 24% of 2025 revenues from vehicle body repair shops; and ECT – Surface Treatment; accounting for about 26% of 2025 revenues serving diverse industrial end markets such as aerospace, automotive and industrials with products for the pre-treatment of metal surfaces. Moody's estimates that the automotive end market (ECO and a share of ECT) accounts for well over 60% of Bond UK's revenues. Post-closing, the company will be owned by funds of Carlyle (around 45%), QIA (around 15%) and BASF (SE) (around 40%). BOUND LOGISTICS: Gets Interim OK to Use Cash Collateral ------------------------------------------------------- Bound Logistics, LLC received interim approval from the U.S. Bankruptcy Court for the District of New Jersey for authority to use cash collateral and provide adequate protection to its secured lender, Flushing Bank. The Debtor's business relies heavily on access to cash generated from accounts receivable and other assets, all of which are subject to pre-petition liens. Without access to this cash collateral, the Debtor would be unable to continue operations, pay essential expenses such as payroll, insurance, and taxes, or pursue a successful reorganization. To address this, the Debtor intends to use its cash collateral over a four-week period in accordance with a cash-flow projection that demonstrates continued profitability and operational viability. The Debtor has approximately $1.56 million in personal property assets -- primarily accounts receivable, trucking equipment, and deposits -- against which multiple creditors hold security interests. However, due to the value of the collateral, only Flushing Bank is partially secured, with a claim exceeding $2.2 million, while other creditors appear undersecured or unsecured. Under the interim order, Flushing Bank will be granted adequate protection in the form of monthly payments of $30,890.36 (the regular loan payment) and a post-petition replacement lien to the extent of any diminution in collateral value during the bankruptcy case. A copy of the order is available at https://is.gd/rbPPin from PacerMonitor.com. About Bound Logistics Bound Logistics, LLC operates as an asset-based trucking and logistics company in Union, New Jersey, providing intermodal drayage and container transportation services between port terminals and inland destinations, primarily serving the New York and New Jersey port region. Bound Logistics sought relief under Chapter 11 of the U.S. Bankruptcy Coode (Bankr. D. N.J., Case No. 26-14399) on April 22, 2026. In its petition, the Debtor reported estimated assets between $1 million to $10 million and estimated liabilities between $1 million to $10 million. The petitions were signed by Nathan Halberstam as authorized representative of the Debtor. Judge Mark Edward Hall oversees the case. The Debtor is represented by Scura Wigfield, Hyer, Stevens & Cammarota LLP. BRANDCASTERS INC: Case Summary & 17 Unsecured Creditors ------------------------------------------------------- Debtor: Brandcasters, Inc. 3943 Irvine Boulevard Irvine, CA 92602 Business Description: Brandcasters, Inc., doing business as Podetize and Podetize.com, provides podcast production, syndication, hosting, editing, migration, statistics, ad swapping, and related marketing and monetization support. The company also offers website support services, including backups, security, performance support, SEO, and content updates. Based in Irvine, California, Brandcasters serves podcasters ranging from new and hobbyist creators to professional podcasters and existing podcast publishers. Chapter 11 Petition Date: May 3, 2026 Court: United States Bankruptcy Court Central District of California Case No.: 26-11374 Judge: Hon. Mark D. Houle Debtor's Counsel: Anerio Ventura Altman, Esq. LAKE FOREST BANKRUPTCY 26632 Towne Centre Drive 300 Foothill Ranch A 92610 Tel: (949) 218-2002 E-mail: avaesg@lakeforestbkoffice.com Total Assets: $11,888 Total Liabilities: $1,175,226 The petition was signed by Thomas B. Hazzard as president/CEO. 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/VWQF6YQ/Brandcasters_Inc__cacbke-26-11374__0001.0.pdf?mcid=tGE4TAMA BRANDFOX LLC: Taps Lucove Say & Co as Certified Public Accountant ----------------------------------------------------------------- Brandfox, LLC seeks approval from the U.S. Bankruptcy Court for the District of Arizona to employ Lucove, Say & Co. as its certified public accountant. The firm will perform the accountancy services that will be necessary during this case, with CPA to seek compensation its normal hourly rates currently ranging from $250 per hour to $300 per hour. The firm will seek reimbursement of its expenses. Post petition, in November, 2025, the Debtor's principal paid a retainer to CPA of $7,500. Lucove, Say & Co. is a "disinterested person" within the meaning of 11 U.S.C. Sec. 101(14), according to court filings. The firm can be reached through: Richard Say, C.P.A Lucove, Say & Co. 23901 Calabasas Rd # 2085 Calabasas, CA 91302 Telephone: (818) 224-4411 Email: info@lucovesay.com About Brandfox LLC Brandfox LLC provides third-party logistics and warehousing services, including eCommerce and retail fulfillment, subscription box fulfillment, kitting and assembly, reverse logistics, and freight management. The Company serves business-to-business and direct-to-consumer clients. Brandfox LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 25-06520) on July 17, 2025. In its petition, the Debtor reports total assets of $2,074,579 and total liabilities of $5,075,243. Honorable Bankruptcy Judge Eddward P. Ballinger Jr. handles the case. The Debtor's bankruptcy counsel is THE FOX LAW CORPORATION. The Debtor's local counsel is Joseph G. Urtuzuastegui III, Esq. at THE REAL ESTATE INVESTORS LAW FIRM, LLC. BUD'S CONSTRUCTION: Case Summary & 20 Largest Unsecured Creditors ----------------------------------------------------------------- Debtor: Bud's Construction, LLC 2630 Raber Road Uniontown, OH 44685 Business Description: Bud's Construction, LLC provides heavy and civil engineering construction services in Uniontown, Ohio. Chapter 11 Petition Date: May 4, 2026 Court: United States Bankruptcy Court Northern District of Ohio Case No.: 26-50770 Judge: Hon. Alan M. Koschik Debtor's Counsel: Steven J. Heimberger, Esq. RODERICK LINTON BELFANCE LLP 50 South Main Street, 10th Floor Akron, OH 44308 Tel: 330-434-3000 E-mail: sheimberger@rlbllp.com Estimated Assets: $100,000 to $500,000 Estimated Liabilities: $1 million to $10 million The petition was signed by John Chafe as owner. 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/A44WRKA/Buds_Construction_LLC__ohnbke-26-50770__0001.0.pdf?mcid=tGE4TAMA CATALYST CREW: Changes Name to LataMed AI ----------------------------------------- Catalyst Crew Technologies Corp. changed its corporate name to LataMed AI Corp. on April 28, according to a filing with the Securities and Exchange Commission. The company said it filed a certificate of amendment to its articles of incorporation with the Nevada secretary of state under Nevada Revised Statutes Sections 78.385 and 78.390. The name change became effective upon filing. The certificate of amendment was filed as Filing Number 20265701113. The company said the sole change effected by the amendment was the corporate name change and that all other provisions of its articles of incorporation remained unchanged. About LataMed AI Catalyst Crew Technologies Corp., formerly Catalyst Crew Technologies Corp., is a development-stage technology company incorporated in Nevada in 2008. The company researches and develops facial recognition technology software and software-based systems intended to support identity verification, access control, security, and analytics use cases. Its activities include technology development, product design, strategic planning, and evaluation of commercialization pathways. Catalyst Crew adopted its current facial recognition technology focus in 2024 and has not yet generated revenue from operations. In an audit report dated April 15, 2026, Beckles & Co. Inc. included a going concern qualification, stating that the company had suffered recurring losses from operations, had a significant accumulated deficit and continued to experience negative cash flows from operations. The conditions raised substantial doubt about the company's ability to continue as a going concern. As of Dec. 31, 2025, the company reported total assets of $0, total liabilities of $630,860 and total stockholders' deficit of $630,860. CBCG ENTERPRISES: Jonathan Dickey Named Subchapter V Trustee ------------------------------------------------------------ The Acting U.S. Trustee for Region 19 appointed Jonathan Dickey as Subchapter V trustee for CBCG Enterprises, Inc. Mr. Dickey will be paid an hourly fee of $425 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Dickey declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Jonathan M. Dickey, Esq. 1660 Lincoln Street, Suite 1720 Denver, CO 80264 303-832-2400 Email: jmd@kutnerlaw.com About CBCG Enterprises Inc. CBCG Enterprises, Inc., doing business as A Racer's Edge, operates a ski and recreational sports retail business in Breckenridge, Colorado. The company sells and services ski equipment, including skis, boots, custom insoles, race gear and ski-tuning products, serving recreational, big mountain and alpine racing customers. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Colo. Case No. 26-12854) on April 24, 2026, with $0 to $50,000 in assets and $1 million to $10 million in liabilities. Charles R. Ginsburg III, president, presides over the case. Judge Thomas B. Mcnamara presides over the case. K. Jamie Buechler, Esq. at BUECHLER LAW OFFICE, LLC represents the Debtor as legal counsel. CBCG ENTERPRISES: Seeks to Hire Buechler Law Office LLC as Counsel ------------------------------------------------------------------ CBCG Enterprises, Inc., doing business as A Racer's Edge, seeks approval from the U.S. Bankruptcy Court for the District of Colorado to hire Buechler Law Office, LLC as counsel. The firm will render these services: a. prepare on behalf of the Debtor-in-Possession all necessary reports, orders and other legal papers required in this Chapter 11 proceeding; b. perform all legal services for Debtor as Debtor-in-Possession which may become necessary; and c. represent the Debtor in any litigation which the Debtor determines is in the best interest of the estate. The firm's hourly rates are: K. Jamie Buechler $525 per hour David M. Rich $525 per hour Associate Attorneys $195 to $300 per hour Law Clerks $150 per hour Paralegals $125 per hour Buechler Law Office, LLC is a "disinterested person" as that term is defined in 11 U.S.C. Sec. 101(14), according to court filings. The firm can be reached through: K. Jamie Buechler, Esq. Buechler Law Office, LLC 999 18th St #1230s Denver, CO 80202 Phone: (720) 381-0045 About CBCG Enterprises, Inc. CBCG Enterprises, Inc., doing business as A Racer's Edge, operates a ski and recreational sports retail business in Breckenridge, Colorado. The company sells and services ski equipment, including skis, boots, custom insoles, race gear and ski-tuning products, serving recreational, big mountain and alpine racing customers. CBCG Enterprises, Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Colo. Case No. 26-12854) on April 24, 2026, listing up to $50,000 in assets and $1 million to $10 million in liabilities. The petition was signed by Charles R. Ginsburg III as president. Judge Thomas B Mcnamara presides over the case. K. Jamie Buechler, Esq. at BUECHLER LAW OFFICE, LLC serves as the Debtor's counsel. CEDAR ARCH: Seeks Approval to Hire Julie Haws CPA as Accountant --------------------------------------------------------------- Cedar Arch Dairies, LLC seeks approval from the U.S. Bankruptcy Court for the District of Idaho to hire Julie Haws CPA as accountant. The Debtor seeks to employ Ms. Haws under Sec. 327 to prepare its 2025 tax return, as well as all future returns. Ms. Haws charges the Debtor $50 per hour for all the work she performs. Julie Haws does not hold any interest adverse to the Debtor or the estate, according to court filings. The firm can be reached through: Julie Haws, CPA 1055 N 3102nd W Rexburg, ID 83440 About Cedar Arch Dairies, LLC Cedar Arch Dairies, LLC is a dairy farming operation headquartered in Firth, Idaho, focused on milk production and livestock management. The company oversees approximately 1,400 dairy cows on a 222-acre property. Cedar Arch Dairies, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Idaho Case No. 26-40154) on March 23, 2026. In the petition signed by Jeremy Clayson, president, the Debtor disclosed up to $50 million in both assets and liabilities. Matthew Grimshaw, Esq., at Grimshaw Law Group, P.C., represents the Debtor as legal counsel. CES MAIL: Case Summary & 11 Unsecured Creditors ----------------------------------------------- Debtor: CES Mail Communications, Inc. 3221 Wellington Court Raleigh, NC 27615 Business Description: CES Mail Communications, Inc. provides direct mail and data processing services, including data management, fulfillment, sample production, variable data printing, warehousing and mailing support. The Raleigh, North Carolina-based company serves customers seeking mass mailing, direct mail advertising and related communications services. Chapter 11 Petition Date: May 4, 2026 Court: United States Bankruptcy Court Eastern District of North Carolina Case No.: 26-02033 Judge: Hon. Pamela W Mcafee Debtor's Counsel: William P. Janvier, Esq. STEVENS MARTIN VAUGHN & TADYCH, PLLC 2225 W Millbrook Road Raleigh, NC 27612 Tel: (919) 582-2300 E-mail: wjanvier@smvt.com Estimated Assets: $100,000 to $500,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Mory A. Read as president. A full-text copy of the petition, which includes a list of the Debtor's 11 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/TMAEDUI/CES_Mail_Communications_Inc__ncebke-26-02033__0001.0.pdf?mcid=tGE4TAMA CINCINNATI BELL: Fitch Affirms 'B' LongTerm IDR, Outlook Stable --------------------------------------------------------------- Fitch Ratings has affirmed Cincinnati Bell, Inc.'s (CBI) and its subsidiary, Cincinnati Bell Telephone Company LLC's (CBT) Long-Term Issuer Default Ratings (IDRs) at 'B'. The Rating Outlook is Stable. Fitch has also affirmed CBT's senior notes at 'B+' with a Recovery Rating of 'RR3'. Fitch has upgraded CBI's RCF and term loan B from 'B+/RR3' to 'BB-'/'RR2'. The ratings reflect Fitch's expectations that CBI will continue substantial investments in its fiber network in 2026-2027. This may weaken credit metrics but Fitch expects them to remain within its EBITDA leverage sensitivities of 4.5x to 5.5x. The ratings also consider the company's limited geographic concentration and significant FCF deficits. However, Fitch anticipates the FCF trajectory will improve by 2028 as CBI completes most of its fiber expansion in Hawaii by 2026. Key Rating Drivers Negative FCF from Fiber Spending: CBI has completed fiber construction to single-family units in the greater Cincinnati area and expects to finish Hawaii's statewide fiber network by late 2026. Fitch believes CBI's aggressive fiber deployment plans in Hawaii, Dayton, and broader Southwest Ohio will drive elevated capex in 2026 and 2027. However, CBI retains flexibility to moderate the pace and scope of its buildout to support cash flow needs. Fitch expects CBI to generate negative FCF, with deficits averaging more than $180 million annually in 2026-2027, driven by accelerating capex and related spending to support its near-term fiber rollout. Fitch expects FCF to turn marginally positive by 2028. Moderate Leverage: CBI increased EBITDA by more than $80 million in 2025 through cost-cutting measures, subscriber growth, and higher average revenue per user (ARPU). Fitch expects the company to continue growing EBITDA in 2026 as subscriber growth accelerates alongside the fiber buildout. Despite the anticipated EBITDA growth, Fitch expects leverage to increase to the low 5.0x range over the forecast period, as the company may require additional debt financing to support its fiber expansion. However, CBI retains flexibility to adjust the scale and pace of its construction plans. Limited Geographic Diversification: The company has a limited geographic footprint, with its network concentrated in Cincinnati and surrounding areas, as well as in Hawaii. As a result, significant events affecting either region could have a greater impact on CBI's operating profile than on peers with broader footprints. Expansion opportunities include further fiber deployment across the Hawaiian Islands, counties surrounding Cincinnati with partially subsidized passings, and greenfield markets such as Dayton, Dublin, and counties in Southwest Ohio. Moderate Execution Risk: CBI's fiber expansion carries moderate execution risk. While the company has a solid deployment record in Cincinnati, expansion in Hawaii, Dayton, and edge-out areas faces uncertainty around penetration, profitability, and market share gains. The buildout must also offset ongoing legacy revenue declines, although subsidized projects in Southwest Ohio and Hawaii provide mitigation. Fitch believes there is substantial potential for CBI to expand its market presence and improve EBITDA margins. However, CBI's ability to deleverage will depend on its success in gaining market share and penetration in these markets. FTTP Network Strength: CBI benefits from an early fiber build in Cincinnati, where deployment began in 2008 and penetration has reached about 48%. Fitch expects penetration in Cincinnati to continue rising modestly. Hawaiian Telcom is at an earlier fiber build-out stage, with penetration of about 30%, which provides meaningful upside if CBI executes well. Higher penetration in Hawaii could support EBITDA margin improvement, although execution risk remains high. Duopoly Competition: CBI primarily competes with Spectrum, a cable operator with 98% footprint overlap in Cincinnati and Hawaii, and faces limited competition from other providers. The challenging economics for a third competitor constrain competition in these markets. There is some, though not significant, fixed wireless access (FWA) competition in CBI's service areas. CBI's fiber network remains competitive with Spectrum's, as reflected in its penetration rates in Cincinnati. Overall, competition in the broadband environment is intensifying, with potential future pressure from FWA providers in terms of market share and ARPU. Peer Analysis Fitch views CBI's fiber investments positively, with successful execution key to supporting its longer-term credit profile. CBI's operations in Cincinnati overlap significantly with those of Charter Communications Inc. (Charter; BB+/Rating Watch Positive), although Charter is substantially larger and more geographically diversified. Fitch placed Charter on Rating Watch Positive following the announcement of its acquisition of Cox Communications, Inc. (BBB+/Rating Watch Negative). Fitch also compares CBI with Uniti Group Inc. (B-/Stable), which provides bundled broadband and voice services to consumers primarily in rural areas across 18 states, as well as enterprise and wholesale services. Cincinnati Bell is further advanced in its fiber transition, with its Cincinnati build largely complete and its Hawaii build more than 60% complete. CBI maintains lower leverage than Uniti. Lumen Technologies, Inc. (B/Stable) is significantly larger than CBI, and its larger enterprise business differentiates it from wireline operators such as CBI and Uniti. Lumen also benefits from a strong competitive position, supported by the scale of its wireline operations in the enterprise and business services markets. Viasat, Inc. (B/Stable) is larger in scale than CBI and offers an end-to-end platform spanning high-capacity satellites, ground infrastructure, and user terminals for enterprise, government, and consumer customers. Broadband connectivity represents a relatively small portion of Viasat's total revenue and faces intense competition from LEO satellite networks. Fitch expects Viasat's leverage to decline over the forecast period, relative to CBI's. Fitch’s Key Rating-Case Assumptions - Organic revenue growth in low single digit supported by fiber penetration combined with moderate ARPU increase, leading to strong growth in consumer and SMB fiber data revenue which offsets declining legacy revenue; - EBITDA margins are expected to continue improving in 2026 as the company advances its cost-reduction strategies, benefits from higher ARPU driven by price increases, and achieves higher penetration rates - No mergers and acquisitions (M&A) or divestitures forecasted over the forecast period; - Capex of $550 million-$450million in 2026 and 2027; reducing from 2028 onwards; Corporate Rating Tool Inputs and Scores Fitch scored the issuer as follows, using its Corporate Rating Tool (CRT) to produce the Standalone Credit Profile (SCP): - Business and financial profile factors (assessment, relative importance): Management (bbb-, Lower), Sector Characteristics (bbb+, Lower), Market and Competitive Positioning (b+, Moderate), Diversification and Asset Quality (b+, Moderate), Company Operational Characteristics (bbb, Moderate), Profitability (bbb, Moderate), Financial Structure (ccc+, Higher), and Financial Flexibility (b+, Higher). - The quantitative financial subfactors are based on standard CRT financial period parameters: 20% weight for the latest historical year 2025, 40% for the forecast year 2026 and 40% for the forecast year 2027. - B+ to CC considerations apply in its analysis and result in no adjustment. - The Governance assessment of 'Good' results in no adjustment. - The Operating Environment assessment of 'aa-' results in no adjustment. - The SCP is 'b'. Recovery Analysis For entities rated 'B+' and below, where default is closer and recovery prospects are more substantial to investors, Fitch undertakes a tailored, or bespoke, analysis of recovery upon default for each issuance. The resulting debt instrument rating includes a Recovery Rating or published 'RR' (graded from 'RR1' to 'RR6') and is notched from the IDR accordingly. In this analysis, there are three steps: (i) estimating the distressed enterprise value (EV); (ii) estimating creditor claims and (iii) distribution of value. Key Recovery Rating Assumptions: Fitch assumes that CBI and CBT would be reorganized as a going concern (GC) in bankruptcy rather than liquidated. Fitch has assumed a 10% administrative claim and that the revolver is fully drawn. CBI and CBT's debt are in two separate credit silos, and therefore, a separate recovery exercise is undertaken for each debt silo. GC Approach: GC EBITDA estimate reflects Fitch's view of a sustainable, post-reorganization EBITDA level upon which Fitch bases the enterprise valuation. In estimating a distressed enterprise valuation (EV, Fitch assumes that macroeconomic challenges, competitive pressures and slower than expected demand could result in lower revenue and EBITDA by about 25% lower than Fitch's 2026 expected EBITDA. This results in a total GC EBITDA for CBT and CBI of $340 million, reflecting Fitch's view of a sustainable, post-reorganization EBITDA level upon which it bases the EV. For CBT, recovery is based on CBT's expected Midwest EBITDA, and the resulting waterfall analysis supports a Recovery Rating of 'RR3' for CBT's senior notes. Fitch notes that the CBT notes are senior obligations of CBT and are guaranteed by CBI on a subordinated basis. In addition, CBT's assets secure both the CBT notes and the credit agreement on an equal and ratable basis. For CBI, the recovery analysis results in a Recovery Rating of 'RR2' for its senior secured credit facilities. Fitch has increased the EV multiple from 5.5x to 6.0x to capture CBI's fiber penetration growth rates. An EV multiple of 6.0x EBITDA is applied to the GC EBITDA to calculate a post-reorganization EV. The choice of this multiple considered the following factors: (i) the historical bankruptcy case study exit multiples in TMT sector have ranged from 4.0x to 7.0x, with a median of 5.9x; (ii) the recovery analysis assumes that the company's revolving credit facility is fully drawn to provide liquidity in a distress situation; and (iii) the waterfall results in a recovery rating of 'RR3' for CBT senior notes and 'RR2' for CBI's senior secured credit facilities. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - Larger-than-expected FCF deficits; combined with reduced access to capital to fund the company's growth; - EBITDA leverage exceeding 5.5x on a sustained basis; - Deterioration in operating profile and market position due to competitive forces; - EBITDA interest coverage sustained below 2.5x. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - Consistent gains in revenue and EBITDA that provide a visible path time towards positive FCF; - EBITDA leverage sustained below 4.5x; - Successful fiber deployment execution, including meaningfully higher penetration on the Hawaiian Telcom network. Liquidity and Debt Structure CBB's liquidity included cash and cash equivalents of $40.5 million, $400 million available under its RCF, and $28 million available under the $60 million Network Receivables Facility as of Dec. 31, 2025. The company's liquidity is constrained by negative FCF, driven by high capex. CBB has scheduled debt amortization and maturities totaling approximately $16.3 million in 2026. The company's RCF matures in August 2028, and the Term Loans mature in November 2028. Fitch expects CBB to issue incremental debt to support liquidity throughout the forecast period, assuming accommodative capital markets. Issuer Profile Cincinnati Bell, Inc. (CBI or dba Altafiber) provides broadband, video and voice services in Greater Cincinnati area and in Hawaii through its Network segment to consumers and businesses over an expanding fiber network and a legacy copper network. MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS Fitch's latest quarterly Global Corporates Sector Forecasts Monitor data file which aggregates key data points used in its credit analysis. Fitch's macroeconomic forecasts, commodity price assumptions, default rate forecasts, sector key performance indicators and sector-level forecasts are among the data items included. Climate Vulnerability Signals The fiscal 2025 revenue-weighted Climate.VS for CBI is 17 out of 100, suggesting lower exposure to climate-related risks in that year. For more information on how Fitch perceives climate-related risks in the telecom sector see Technology, Media and Telecommunications - Long-Term Climate Vulnerability Scores. ESG Considerations The highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. Entity/Debt Rating Recovery Prior ----------- ------ -------- ----- Cincinnati Bell Telephone Company LLC LT IDR B Affirmed B senior secured LT B+ Affirmed RR3 B+ Cincinnati Bell, Inc. LT IDR B Affirmed B senior secured LT BB- Upgrade RR2 B+ CLAY YOUNG: Case Summary & Two Unsecured Creditors -------------------------------------------------- Debtor: Clay Young Properties LLC 8987 Hwy 19 North Collinsville, MS 39325 Business Description: Clay Young Properties LLC, a privately held company, leases real estate properties. Chapter 11 Petition Date: May 4, 2026 Court: United States Bankruptcy Court Southern District of Mississippi Case No.: 26-01231 Judge: Hon. Katharine M. Samson Debtor's Counsel: Douglas M. Engell, Esq. DOUG ENGELL PO Box 309 Marion, MS 39342 Tel: 601-693-6311 E-mail: dengell@dougengell.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $100,000 to $500,000 The petition was signed by Clay Young as owner. A copy of the Debtor's list of its two unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/G5SFZSY/Clay_Young_Properties_LLC__mssbke-26-01231__0007.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/462GDPI/Clay_Young_Properties_LLC__mssbke-26-01231__0001.0.pdf?mcid=tGE4TAMA CLEANOVA: Fitch Affirms 'B' LongTerm IDR, Outlook Stable -------------------------------------------------------- Fitch Ratings has affirmed the 'B' Long-Term Issuer Default Ratings (IDR) of Cleanova Holdco 3 Limited and Cleanova US Holdings LLC (collectively, Cleanova). Fitch has also affirmed the 'B+' rating on senior secured debt issued by Cleanova US Holdings LLC, with a Recovery Rating of 'RR3'. The Rating Outlook is Stable. Cleanova's 'B' IDR reflects the company's range of engineered air and liquid industrial filtration products with predictable replacement cycles, high proportion of aftermarket sales supported by a large installed base and service capabilities, and diversified, sticky customer base that leads to a good degree of revenue and cash flow stability. The company's rating is constrained by its projected financial profile and potential for debt-funded acquisitions. Fitch forecasts EBITDA leverage around 5x and coverage in the mid-2x range in the medium-term. Fitch projects $20 million-$50 million in annual FCF and (CFO-capex)/debt in the low- to mid-single digits, in addition to potential equity contributions, which helps moderate M&A-linked leverage and support deleveraging. Key Rating Drivers Forecasted 5x Leverage, Mid-2x Coverage: Fitch expects PF Fitch-calculated EBITDA leverage in the mid- to high-5x range in 2026, before declining to around 5x over the medium term. Forecasted deleveraging stems from continued execution on identified operational and cost synergies following the Micronics, Airflotek, and TES-Clean Air Systems acquisitions and incremental M&A completed with excess proceeds from the proposed term loan add-on. Fitch expects Cleanova to continue to pursue partially debt-funded bolt-on acquisitions to enhance market share and product breadth leading to average leverage in line with 'B' rating tolerances. Aftermarket Exposure Moderates Variability: Cyclicality inherent in industrial end-markets is mitigated by Cleanova's nearly 90% of sales related to low-cost, performance-linked aftermarket filter replacement. Highly consumable aftermarket demand tends to be more stable than original equipment sales due to its installed based and operating cost orientation. Around 70%-80% the company's filters are replaced based on a fixed schedule during planned plant turnarounds, due to regulatory or manufacturer warranty requirements and preventing underperformance or disruption. These factors have led to greater revenue stability during economic cycles relative to industrial peers concentrated in capital spend-linked new equipment sales. Forecasted Positive FCF: Cleanova's limited capex and predictable working capital needs are supportive of FCF margins in the mid- to high-single digit range over the medium term, leading to above-average financial flexibility relative to peers in the 'B' rating category. Fitch expects FCF to be in the $20 million-$30 million range in the near term due to one-time costs related to acquisitions and restructuring, as well as synergy timing. While the improving FCF profile provides a good degree of de-leveraging capacity, Fitch expects excess cash flow to be prioritized towards incremental acquisitions. Engineered, Built-to-Spec Products: More than 70% of products are engineered-to-order or configured-to-order, requiring in-house technical expertise to design and manufacture filters to customer specifications. These requirements, in conjunction with Cleanova's services capabilities, heighten switching costs and establish a more solutions-oriented offering, as demonstrated by the length and breadth of customer relationships. Cleanova has established a global manufacturing footprint and diversified material supply chains to ensure proximity to customers, particularly within its core North American and European markets, moderating operational and cost risks. Diversified Geography, End Markets: The Micronics acquisition led to an enhanced revenue profile due to its complimentary diversification across filtration products, geographies, and customers. The combined company covers filtration solutions for both air and liquid applications spanning both the Americas and EMEA. Cleanova serves over 10,000 customers across more than eight industries, with the top 10 customers accounting for around 12% of revenue and top three end markets accounting for 51% of revenue. Peer Analysis Fitch compares Cleanova to peers in the Diversified Industrial and Aerospace and Defense sectors, such as Columbus McKinnon (B+/Stable) and Signia Aerospace, LLC (B+/Stable). Each of these companies has a high degree of sales attributed to spec'd-in aftermarket products, leading to defensible market positions and revenue stability. Cleanova has a greater proportion of replacement-driven sales (90%+) compared to Columbus McKinnon (35%) which reduces cyclicality. Columbus McKinnon's larger scale and expected leverage in the 4x-5x range offset its lower aftermarket exposure, leading to the one notch rating differential. Cleanova operates with similar leverage and a higher portion of aftermarket sales relative to Signia; however, it has lower cash flow margins, less revenue visibility relative to A&D platforms, and is much smaller. Fitch’s Key Rating-Case Assumptions - Organic revenue growth in the low- to mid-single digits through the forecast period, supported by steady pricing increases and incremental cross-selling opportunities; - Pro forma EBITDA margins strengthen over the next few years as the company executes on identified synergies; - Excess cash flow is prioritized toward acquisitions; - Capital expenditure assumed to remain around 1% of revenue per year; - SOFR is assumed to remain between 3.6% to 3.8% through the forecast. Corporate Rating Tool Inputs and Scores Fitch scored the issuer as follows, using its Corporate Rating Tool (CRT) to produce the Standalone Credit Profile (SCP): - Business and financial profile factors (assessment, relative importance): Management (bb+, Lower), Sector Characteristics (bb+, Moderate), Market and Competitive Positioning (b+, Higher), Diversification and Asset Quality (bb+, Moderate), Company Operational Characteristics (bb-, Moderate), Profitability (a+, Lower), Financial Structure (b, Higher), and Financial Flexibility (b, Higher). - The quantitative financial subfactors are based on custom CRT financial period parameters: 20% weight for the forecast year 2025, 40% for the forecast year 2026 and 40% for the forecast year 2027. - B+ to CC considerations apply in its analysis and result in no adjustment. - The Governance assessment of 'Good' results in no adjustment. - The Operating Environment assessment of 'a+' results in no adjustment. - The SCP is 'b'. Recovery Analysis The recovery analysis assumes that Cleanova would be reorganized as a going concern (GC) in bankruptcy rather than liquidated. A 10% administrative claim is assumed in the recovery analysis. The GC EBITDA estimate reflects Fitch's view of a sustainable, post-reorganization EBITDA level upon which Fitch bases the enterprise valuation. The $95 million GC EBITDA reflects a hypothetical scenario in which material, persistent operational issues arise, resulting in the loss of key suppliers and customers, leading to margin deterioration. An enterprise valuation multiple of 5.5x EBITDA is applied to the GC EBITDA to calculate a post-reorganization enterprise value. The multiple considers the company's business model, scale, proportion of sales derived from aftermarket products, and comparable transaction multiples. The revolving credit facility is assumed to be fully drawn. The first-lien-secured revolving credit facility and term loan are pari passu and receive equal priority in the distribution of value in the recovery waterfall. The recovery rating analysis results in a 'B+'/'RR3' recovery for the secured debt. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - EBITDA interest coverage around 2.0x; - EBITDA leverage sustained above 6.5x; - Reduction in financial flexibility, such as or CFO-Capex/Debt below 2.5% or revolver availability sustained below 50%; - A deviation in M&A strategy or operational missteps that heightens execution and cash flow risk. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - Fitch expects EBITDA leverage to be maintained below 5x; - EBITDA interest coverage approaching 3.0x; - Improved cash flow profile leading to greater financial flexibility, such as CFO-Capex/Debt in the mid-single-digits; - Continued execution of strategic initiatives to improve the cash flow risk profile, including increased size, scale, and diversification. Liquidity and Debt Structure Cleanova's liquidity is adequate, consisting of $23 million cash on hand and full availability on its $75 million revolver as of 3Q25. FCF is forecast to remain positive, supporting a stable liquidity position over the medium-term. Cleanova's debt structure consists of a $75 million senior secured revolver due 2030 and a $700 million senior secured term loan due 2032. The term loan amortizes at 1% per annum. Issuer Profile Cleanova Group designs and manufactures custom filtration assemblies and aftermarket filters. Its products are sold globally across diversified industrial, energy, metal, mining, and other end markets. MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS Fitch's latest quarterly Global Corporates Sector Forecasts Monitor data file which aggregates key data points used in its credit analysis. Fitch's macroeconomic forecasts, commodity price assumptions, default rate forecasts, sector key performance indicators and sector-level forecasts are among the data items included. ESG Considerations The highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. Entity/Debt Rating Recovery Prior ----------- ------ -------- ----- Cleanova US Holdings LLC LT IDR B Affirmed B senior secured LT B+ Affirmed RR3 B+ Cleanova Holdco 3 Limited LT IDR B Affirmed B COAST TO COAST: Fine-Tunes Plan Documents ----------------------------------------- Coast to Coast Leasing, LLC, submitted a Fourth Amended Combined Chapter 11 Plan of Reorganization and Disclosure Statement. Plan 4 is a substantial restructuring rather than a simple amendment of Plan 3. It reflects the completed surrender and disposition of the refrigerated trailers and dramatically simplifies the secured-creditor classification scheme. This Fourth Amended Combined Plan addresses the liquidation of collateral and treatment of unsecured creditors. It also addresses the treatment of the remaining secured creditors taking into account adequate protection payments to date. The Plan reflects the surrender and disposition of refrigerated trailers no longer needed for Debtor's business. The Debtor's Plan is now substantially simpler. It establishes separate classes for each Secured Lender and a single class for the Unsecured Creditors. Owing to cross-collateralization by the Secured Lenders, it is not necessary to provide for subclasses for each of the Secured Creditors. As a result, all but one of the Lenders are undersecured. The only exception to this is M&T Equipment Finance Corporation. Its predecessor in interest before the merger, People's United Equipment Finance Corp., held a blanket lien. Class 2.2 consists of the TBK Bank subclasses. Class 2.2 (consolidated). After deducting postpetition Adequate Protection payments and net proceeds from disposition of returned Transportation Equipment pursuant to the Agreed Order entered August 8, 2025: * Allowed Secured Claim: $2,576,283.03. * Allowed Unsecured Claim: $2,824,291.83 [text states the unsecured claim is $75,402.64 — internal inconsistency to confirm]. * Secured: 60 monthly installments of $53,649.54 @ 9%. * Unsecured: 30% dividend ($22,320.79) without interest, $372.01/mo over 60 months. Class 2.3 consists of First Federal Savings Bank Claim. First Federal shall be entitled to a secured claim of $714,147.47 with interest at 5.5% interest, payable at $21,096 per month. Like in the prior iteration of the Plan, Class 3.1 Unsecured Claims still provides 30% dividend in 60 monthly installments at 5% interest. A full-text copy of the Fourth Amended Combined Plan and Disclosure Statement dated April 27, 2026 is available at https://urlcurt.com/u?l=jNgwPc from PacerMonitor.com at no charge. Counsel to the Debtor: David P. Leibowitz, Esq. Law Offices of David P. Leibowitz, LLC 3478 N. Broadway, Unit 234 Chicago, IL 60657-6968 Phone: (312) 662-5750 Email: dleibowitz@lakelaw.com About Coast to Coast Leasing Coast to Coast Leasing is part of the general freight trucking industry. Coast to Coast Leasing filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 24-03056) on March 1, 2024, listing $9,989,000 in assets and $19,167,713 in liabilities. The petition was signed by Hristo Angelo as member. Judge Jacqueline P. Cox presides over the case. David P Leibowitz, at the Law Offices of David P. Leibowitz, LLC, is the Debtor's counsel. COMPONENT FABRICATORS: Lender Seeks to Prohibit Cash Access ----------------------------------------------------------- Regions Bank asks the U.S. Bankruptcy Court for the Eastern District of Tennessee, Knoxville, to either prohibit or strictly condition Component Fabricators, Inc.'s use of cash collateral, require adequate protection for its secured interest, or alternatively obtain relief from the automatic stay that currently prevents it from enforcing its rights against the Debtor's assets. Regions Bank's claim arises from a promissory note executed in September 2021, supported by a security agreement and personal guaranty, and perfected through a UCC-1 financing statement. As of early April, the Debtor owed approximately $37,441 on the note, plus interest and legal fees, along with an additional $33,110 tied to overdrawn deposit accounts that are also secured under the same agreement. The bank asserts a broad, perfected security interest in essentially all of the Debtor's assets, including accounts, inventory, equipment, and proceeds, and contends that the Debtor is significantly delinquent not only on its obligations to the bank but likely on other liabilities such as taxes. The bank argues that the Debtor has been using this collateral—including cash collateral—in ongoing business operations without sufficient protection, thereby diminishing its value. As a result, Regions Bank objects to any continued use of the collateral unless the court grants it robust safeguards. These include a first-priority replacement lien on all current and future assets of the Debtor and ongoing adequate protection payments at least equal to the contractual loan payments. The bank also reserves the right to seek additional administrative expense claims if the protection provided proves insufficient. Alternatively, the bank requests relief from the automatic stay under the Bankruptcy Code, arguing both cause (lack of adequate protection) and that the Debtor has no equity in the collateral and cannot realistically reorganize. The Lender suggests that the Debtor's financial condition and debt load make a successful reorganization unlikely, thereby justifying allowing the bank to proceed with collection or foreclosure actions. A hearing on the matter is set for May 21, at 11 a.m. A copy of the motion is available at https://urlcurt.com/u?l=GnloJh from PacerMonitor.com. About Component Fabricators Inc. Component Fabricators, Inc., doing business as Legend Fitness, is a precision metal fabrication and commercial fitness equipment manufacturer headquartered in Knoxville, Tennessee, with roots in a fabrication workshop at 5901 Middlebrook Pike. Founded in 1992, it produces American-made strength and athletic training equipment, including racks, cages, plate-loaded machines, and free-weight systems, under the Legend Fitness brand, serving gyms, athletic centers, professional teams, educational institutions, and other commercial customers worldwide. Its in-house capabilities include custom design engineering, CNC bending, welding, routing, plasma cutting, assembly, and finishing, which support both bespoke projects and build-to-order fitness product lines. Component Fabricators, Inc., doing business as Legend Fitness, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Tenn. Case No. 26-30565) on March 27, 2026, listing $100,001 to $500,000 in assets and $1 million to $10 million in liabilities. Judge Suzanne H Bauknight oversees the case. Tarpy, Cox, Fleishman & Leveille, PLLC is Debtor's legal counsel. Regions Bank, as lender, is represented by: Walter N. Winchester, Esq. Winchester, Sellers, Foster & Steele, P.C. P.O. Box 2428 Knoxville, TN 37901-2428 Phone: (865) 637-1980 Facsimile: (865) 637-4489 wwinchester@wsfs-law.com COSMETIC MEDICINE: Hires Shumaker Loop & Kendrick LLP as Counsel ---------------------------------------------------------------- Cosmetic Medicine Enterprises, Inc. and affiliates seek approval from the U.S. Bankruptcy Court for the Middle District of Florida to hire Shumaker, Loop & Kendrick, LLP as general counsel. The firm will render these services: a. give the Debtors legal advice with respect to their duties and powers as Debtors-in-Possession; b. prepare, on behalf of the Debtors, the necessary schedules, motions, notices, pleadings, petitions, schedules, answers, orders, reports and other legal papers required in this Chapter 11 case and related proceedings; c. assist in the formation, preparation and approval of an appropriate Disclosure Statement and Chapter 11 Plan, and to proceed to confirmation of the same; and d. provide all other reasonably necessary and appropriate legal services to the administration of the Debtors' estates. The firm requested a $75,000 fee retainer and a $10,000 cost retainer. Steven M. Berman, Esq., a partner at Shumaker, Loop & Kendrick, LLP, assured the court that the firm is a "disinterested person" as that term is defined in 11 U.S.C. Sec. 101(14). The firm can be reached through: Steven M. Berman, Esq. Shumaker, Loop & Kendrick, LLP 101 E. Kennedy Blvd., Suite 2800 Tampa, FL 33602 Phone (813) 229-7600 Email: sberman@slk-law.com About Cosmetic Medicine Enterprises Inc. Cosmetic Medicine Enterprises Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-02756) on April 3, 2026. In the petition signed by Marissa Morris Harrell, manager, the Debtor disclosed up to $10 million in both assets and liabilities. Steve M. Berman, Esq., at Shumaker LLP, represents the Debtor as legal counsel. CRYO-1 INC: Unsecureds Will Get 100% of Claims over 5 Years ----------------------------------------------------------- CRYO-1, Inc., filed with the U.S. Bankruptcy Court for the Southern District of Texas a Disclosure Statement describing Plan of Reorganization dated April 27, 2026. The Debtor is a Non-Profit Corporation incorporated under Texas law and has its principal place of business in Galveston County, Texas. The Debtor is a Galveston tissue bank and scientific service entity, handling biological materials such as human tissue for medical and research purposes. CRYO-1 receives the majority of organ, eye and tissue donors through cooperation from county medical examiners. The Galveston County Medical Examiner's Office was the office with which CRYO-1 worked for over 2 years. During that time, the office became increasingly less cooperative. The donor volume dropped to a small fraction of what it was initially. On November 4, 2025, the Galveston County Medical Examiner's Office informed Cryo-1 that they would no longer provide any decedent and organ donor information. With no source of organ, eye and tissue donors due to the GCMEO's actions, no income was generated and Great Central Mortgage Acceptance Company, Ltd., the Debtor's largest creditor and holder of the Note and prepetition claim secured by the Debtor's real estate posted the property for foreclosure placing the Debtor in a precarious position. Cryo-1 had no choice but to relief under the Bankruptcy Code. In addition, Cryo-1 immediately reached out to the Texas Office of the Attorney General and filed a formal complaint. The Plan is based on the future income generated by CRYO-1, Inc. and collection of its rents (the "receivables"), as well as the income generated by the leasing of the office space located on the second floor of the building in which operations are being conducted. The Debtor has started taking bids from contractors to develop the unused second floor and turn it into office space which will be leased out to third parties. CRYO-1, Inc. has been able to operate profitably since filing for relief under Chapter 11 on November 28, 2025. Since to the Petition Date, the Debtor has reduced its monthly expenses which has had a positive impact on its profitability and has entered into a new contract with the Harris County Institute of Forensic Sciences for the development and contracting of new tissue donors. This new agreement is generating a minimum of two new donors per months which translates into approximately $18,000.00 per month in income. Class 3 consists of General Unsecured Claims. CRYO-1, Inc. will pay 100% percent of the unsecured creditors in Class 3 claims over five years without interest. Payments in the combined amount of $176.40 will be made beginning on the 1st day of the first full month following the Effective Date with like payments to be on the 1st day of each succeeding month thereafter. All payments will be shared pro rata amongst the Class 3 creditors. This Class is Impaired. The allowed unsecured claims total $10,583.80. The Plan is based on the future earnings of CRYO-1, Inc. as well as the expected rental income from the office space that is being developed in the building's second floor, which the Debtor believes will be sufficient to fund the expected monthly outlays. A full-text copy of the Disclosure Statement dated April 27, 2026 is available at https://urlcurt.com/u?l=GLaCBo from PacerMonitor.com at no charge. Counsel to the Debtor: Gabe Perez, Esq. Zendeh Del & Associates PLLC 1813 61st Street, Suite 101 Galveston, TX 77551 Telephone: (409) 740-1111 About CRYO-1 Inc. CRYO-1, Inc., handles sensitive biological materials, including human tissue for medical and research purposes. CRYO-1 sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-80601) on Nov. 28, 2025, listing up to $500,000 in both assets and liabilities. Kenneth Harper, president of CRYO-1, signed the petition. Judge Alfredo R. Perez oversees the case. Gabe Perez, Esq., at Zendeh Del & Associates, PLLC, is the Debtor's legal counsel. CRYSTAL BASIN: $525K Unsecured Claims to Recover 100% in Plan ------------------------------------------------------------- Crystal Basin Cellars, Inc., submitted a Disclosure Statement describing First Amended Plan of Reorganization dated April 27, 2026. The Debtor was organized on March 5, 2000 in Roseville, CA, under the leadership of Michael Owen, producing and selling various wine products and shows. Up until March of 2026, the Debtor operated 3550/3544 Carson Rd., Camino, CA 95709, in which they have surrendered these properties, and entered into a Lease for a new retail location at 2850 Cold Springs Road, Placerville, CA 95667. The Debtor is continuing to operate to meet the financial forecasts, while marketing both the subject real property, and product lines. On the Effective Date if the Plan, Debtor shall become the Reorganized Debtor and shall continue to operate its business. On the Effective Date of the Plan, Debtor will make the following distributions to claim holders under this Plan. These distributions include: * Monthly Payments to secured claims of Scott and Mellanie Bigelow, through March 2026. * Monthly Payments to secured claims of Cadence Bank, through March 2026. * Complete a Surrender of the Real Property to Scott and Mellanie Bigelow. Administrative claims, including attorney fees, and U.S. Trustees, shall be paid upon confirmation of Plan. Class 4 consists of General Unsecured Claims. Under this Plan the Debtor shall pay each holder of a Class 4 Unsecured claim a 100% dividend. All unsecured claims, including the undercollateralized portion of secured claims not entitled to priority, total $525,007.86. This Class is unimpaired. Class 5 consists of Equity Interests. Under this Plan Michael Owen retains 100% equity in the reorganized Debtor. This class is unimpaired and therefore is not entitled to vote on confirmation of the Plan. The Budget provides that Debtor will have sufficient cash flow from business operations to pay the proposed Plan payments and will have a surplus after providing for all payments each month. Debtor has streamlined and reduced their costs as well to increase the Gross Sales and to secure sufficient funds as necessary. A full-text copy of the Disclosure Statement dated April 27, 2026 is available at https://urlcurt.com/u?l=UgvEVn from PacerMonitor.com at no charge. Counsel to the Debtor: Peter G. Macaluso, Esq. LAW OFFICES OF PETER G. MACALUSO 7230 South Land Park Drive, Suite 127 Sacramento, CA 95831 Tel: (916) 392-6591 Cell: (916) 705-8847 Fax: (916) 392-6590 Email: info@pmbankruptcy.com About Crystal Basin Cellars Crystal Basin Cellars, Inc., has been in the business of promoting and selling wine products since March 5, 2000. The Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Cal. Case No. 24-25612) on Dec. 13, 2024, with $1 million to $10 million in both assets and liabilities. Michael Owen, president of Crystal Basin Cellars, signed the petition. Judge Christopher D. Jaime presides over the case. Peter G. Macaluso, Esq., at the Law Office of Peter G. Macaluso, is the Debtor's bankruptcy counsel. D&M KITCHEN: Case Summary & Eight Unsecured Creditors ----------------------------------------------------- Debtor: D&M Kitchen and Bath Supply, Inc. 721 Amy Way Manteca, CA 95337 Business Description: D&M Kitchen & Bath Supply, Inc. is a licensed general contractor based in Stockton, California. The company provides kitchen and bathroom remodeling services, including cabinetry, flooring, and countertop installation, for residential customers in Stockton and surrounding Northern California communities. Chapter 11 Petition Date: May 4, 2026 Court: United States Bankruptcy Court Eastern District of California Case No.: 26-22570 Judge: Hon. Christopher D Jaime Debtor's Counsel: Michael Jay Berger, Esq. LAW OFFICES OF MICHAEL JAY BERGER 9454 Wilshire Boulevard, 6th Floor Beverly Hills, CA 90212 Tel: (310) 271-6223 Fax: (310) 271-9805 E-mail: michael.berger@bankruptcypower.com Total Assets: $3,304,500 Total Liabilities: $5,607,643 The petition was signed by Dennis Almeida as chief executive officer. 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/VE6FFHQ/DM_Kitchen_and_Bath_Supply_Inc__caebke-26-22570__0001.0.pdf?mcid=tGE4TAMA D2 GOVERNMENT: Court OKs Multiple Vehicles Sale ----------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of North Carolina, New Berne Division, has permitted D2 Government Solutions, Inc.to sell vehicles, free and clear of liens, claims, interests, and encumbrances. The Debtor is the owner of certain personal property that it has identified that it no longer needs in its operations, which include tuck, telehandler, camper, and trailers. Details of the Property can be found at https://urlcurt.com/u?l=RnAedf. The Sale Property is surplus property not currently being used by the Debtor in its operations. The Debtor intends to use the profit from the sale of these assets to pay towards repayment of creditors and funding operational costs. The Debtor’s Motion sets forth the following known lien claims in the order of their priority: A. The secured lien of U.S. Small Business Administration; and B. The secured lien of LSQ Funding Group, LC. The Debtor submits and the Court agrees that the value of remaining collateral is in excess of the amount of these liens and the sale shall not affect the security for these loans. The Court has authorized the Debtor to sell the Property. The sale of assets shall be free and clear of all the liens. The Debtor is authorized to enter into and consummate the sale of the assets to any purchasers as necessary to effectuate the Order. The Debtor is authorized to use the net proceeds remaining after the payment of the costs of sale to fund its operational costs and repayment of creditors without seeking further order of the Court. About D2 Government Solutions Inc. D2 Government Solutions, Inc. founded in 2010, is a Service-Disabled Veteran-Owned Small Business (SDVOSB) that provides a broad spectrum of professional services to U.S. government agencies. The Company specializes in aviation-related operations including base and flight operations, aircraft maintenance, logistical support, aerial imaging, and range services. In addition, D2 offers administrative and facility support services such as mailroom operations, military transition assistance, ID processing support, clerical staffing, and medical administrative functions, reflecting its versatility in meeting diverse federal contracting needs. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.C. Case No. 25-01322) on April 11, 2025. In the petition signed by Darryl Centanni, president, the Debtor disclosed up to $50 million in assets and up to $10 million in liabilities. Judge Pamela W. McAfee oversees the case. The Debtor is represented by J.M. Cook, Esq., at J.M. Cook, P.A. DBJ US CORP: Claims to be Paid from Disposable Income ----------------------------------------------------- DBJ US CORP., d/b/a Denny's, d/b/a Denny's America's Diner filed with the U.S. Bankruptcy Court for the Southern District of Florida a Plan of Reorganization dated April 27, 2026. The Debtor was a concept of its principals, restauranteurs Javier and Maria Saavedra (husband and wife) (collectively, "Owners"), and their daughter, Brenda Saavedra ("Brenda" or "Secretary"). In August of 2018, Owners incorporated Debtor with an eye to develop a successful 24/7 diner on Miami Beach; specifically, a Denny's restaurant franchise. The buildout construction concluded in November 2024, with the Certificate of Occupancy, Certificate of Use and Miami Beach Business Tax Receipt ("BTR") being issued in December, 2024. Debtor's first day opening was on December 26, 2024. However, the significant delay in opening and operations, coupled with the exhaustion of personal investments by the Owners and less-than-expected anticipated initial sales, negatively impacted and delayed Debtor's income and unfortunately led to an inability to pay its obligations as they came due, leading to a foreclosure action filed by LMCU against, among others, Debtor in 2025. Thus, the eventual filing of the instant Bankruptcy Case. With the imposition of the automatic stay and a little breathing room, the Debtor hopes to address all of its claims in the Chapter 11 claims process and propose a payment plan to deal with its creditors. The Plan Proponent's financial projections show that the Debtor will have sufficient projected disposable income to make all payments under the Plan. The final Plan payment is expected to be paid on or before the expiration of 36 months from the Effective Date. The Debtor reserves the right to amend this Plan to the extent necessary. This Plan proposes to pay Allowed Claims no less than the value of Debtor's Projected Net Disposable Income for a period of 36 months. The Plan provides for 5 Classes of creditor claims (including priority, secured, and unsecured) and one Class of Equity interests. Class 3 consists of the Allowed General Unsecured Claims. Only unsecured creditors with Allowed Priority Claims and Allowed Secured Claims will receive a distribution under the Plan unless the Debtor recovers from Retained Causes of Action. In the event that the Debtor or Reorganized Debtor achieve a recovery from Retained Causes of Action, the Reorganized Debtor will earmark said recoveries for Class 3, after payment in full of fees and costs associated with said recoveries. The Reorganized Debtor will have insufficient revenue to make a distribution to Class 3. Class 3 is impaired and entitled to vote. Class 4 consists of Equity Interests of Javier and Maria Saavedra (husband and wife). On the Effective Date, the Equity Interests will be retained in the same amounts and character as they were held prior to the Petition. Class 4 is deemed to accept and not entitled to vote. Class 5 consists of Allowed Claim of Debtor's Landlord, Giumel Kodesh, LLC (the "Landlord"). The Landlord has not filed a proof of claim; however, the Debtor is assuming the Lease subject of the rental premises with Landlord and will cure the pre-petition arrearage in full on or before the Effective Date, and the underlying lease for the business premises is assumed by the cure payment thereon of $20,523.94, 5 with the subsequent regular monthly rent under the Lease continuing to be paid during the 36 month term of the Plan and thereafter, as Debtor further exercises its option to renew thereunder by giving notice in this Plan to do so. On the Effective Date, all property of the Debtor not otherwise disposed of under the Plan, shall vest with the Reorganized Debtor. The Plan proposes to pay Allowed Claims to be paid under the Plan from Projected Net Disposable Income and any net recoveries from Retained Causes of Action. A full-text copy of the Plan of Reorganization dated April 27, 2026 is available at https://urlcurt.com/u?l=x1rJPx from PacerMonitor.com at no charge. Counsel to the Debtor: James B. Miller, Esq. JAMES B. MILLER, P.A. 19 West Flagler St., Suite 416 Miami, FL 33130 Telephone: (305) 374-0200 Facsimile: (305) 374-0250 E-mail: BKCMIAMI@GMAIL.COM About DBJ US Corp. DB USA Corporation operates as a bank holding company. The company, through its subsidiaries, offers commercial banking services including checking accounts, commercial loans, equipment financing, investment services, foreign exchange services, and other financial services to customers in the United States. DBJ US Corp. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-11015) on January 27, 2026. In its petition, the debtor reported estimated assets of $0 to $100,000 and estimated liabilities of $1 million to $10 million. The case is being handled by Honorable Bankruptcy Judge Robert A. Mark. The debtor is represented by James B. Miller, Esq. DELEK US: Moody's Rates Amended Senior Secured Term Loan 'B2' ------------------------------------------------------------- Moody's Ratings assigned a B2 rating to Delek US Holdings, Inc.'s ("Delek") amended senior secured term loan B. As part of this amendment, the company is repricing and extending the maturity of its existing term loan from 2029 to 2032. Concurrently, Delek will pay down around $72 million of the existing term loan for a new pro forma loan balance of $850 million. RATINGS RATIONALE Delek's B1 Corporate Family Rating and negative outlook are not affected by the proposed amendment. The company's current ratings include a B1 Corporate Family Rating (and a B2 rating on its senior secured debt. Delek's senior secured term loan is rated B2, one notch below the CFR, reflecting the priority claim of the $1.25 billion revolving credit facility (unrated), which shares the same collateral as the term loan. Delek's B1 CFR reflects the volatility of its profit margins and cash flow, high gross leverage on its refining and marketing operations and exposure to industry crack spreads. Delek's gross debt, excluding the debt of Delek Logistics Partners, LP (DKL, B1 stable), is high considering the volatility of the of the refining business and the material impact of recurrent turnarounds in company earnings. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATING The ratings could be downgraded if operating performance of the refining operations does not improve, such that the company does not generate positive free cash flow with mid-cycle refining margins or if liquidity deteriorates. A meaningful decline in the cash balance or increase in net debt without the benefit of more reliable positive free cash flow from the refining assets could result in a downgrade. The ratings could be upgraded if operating performance improves, including successful execution on projects underpinning the EOP to improve the cost position of its refining assets, the refining operations generate positive free cash flow, and gross debt is reduced enabling DK to sustain stand-alone credit metrics supportive of a higher rating. Delek US Holdings, Inc. (NYSE: DK), headquartered in Brentwood, Tennessee, is an independent refining and wholesale marketing company with 302 Mbpd of total crude oil throughput capacity at four refineries and midstream assets. Additionally, it holds a ~63% (as of March 31, 2025, including the general partner interest) stake in the midstream logistics company, Delek Logistics Partners, LP (NYSE: DKL, B1 stable) which operates crude oil, natural gas and water midstream assets. The principal methodology used in this rating was Refining and Marketing published in February 2026. DIOCESE OF ALBANY: Tort Claimants Taps Actuarial Value as Advisor ----------------------------------------------------------------- The official committee of tort claimants of Roman Catholic Diocese of Albany, New York filed a supplemental application seeking approval from the U.S. Bankruptcy Court for the Northern District of New York to employ Actuarial Value Services, LLC as pension financial advisor. Since Hilco's retention by the Committee, Robert Campbell and Jon Spencer have been the only professionals from Hilco working on this engagement. Effective as of March 11, 2026, Mr. Campbell and Mr. Spencer have separated from Hilco and are employed by Actuarial Value, LLC. Actuarial Value intends to continue providing services to the Committee and to comply with the order in all respects, including applying to this Court for allowance of its compensation and reimbursement of expenses in accordance with applicable provisions of the Bankruptcy Code, the Bankruptcy Rules, the Local Rules, and the terms of the Order Establishing Procedures for Interim Compensation and Reimbursement of Expenses for Professionals and Members of Official Committees. John Spencer, a managing director at Actuarial Value, disclosed in a court filing that the firm is a "disinterested person" as defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: John Spencer Robert Campbell Actuarial Value, LLC 1425 Park Ave Baltimore, MD 21217 Tel: (616) 340-0756 Email: rcampbell@actuarialval.com About Roman Catholic Diocese of Albany, New York The Roman Catholic Diocese of Albany is a religious organization in Albany, N.Y. It covers 13 counties in Eastern New York, including a portion of the 14th county. Its Mother Church is the Cathedral of the Immaculate Conception in the city of Albany. New York's Child Victims Act, which took effect in August 2019, temporarily sets aside the usual statute of limitations for lawsuits to give victims of childhood sexual abuse a year to pursue even decades-old claims. Hundreds of new lawsuits have been filed against churches and other institutions since the law took effect on Aug. 14, 2019. Facing the financial weight of new sexual misconduct lawsuits, at least four of the eight Roman Catholic dioceses in the state, has already sought Chapter 11 protection. The dioceses that have declared bankruptcy include the Diocese of Rochester and the Diocese of Rockville Centre on Long Island. The Catholic Diocese of Albany sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D.N.Y. Case No. 23-10244) on March 15, 2023. In the petition filed by Fr. Robert P. Longobucco, the Debtor estimated assets between $10 million and $50 million and liabilities between $50 million and $100 million. Judge Robert E. Littlefield, Jr. oversees the case. The Debtor tapped Nolan Heller Kauffman, LLP as bankruptcy counsel; Tobin and Dempf, LLP as special litigation counsel; Keegan Linscott & Associates, PC as financial advisor; and Bonadio & Co., LLP as accountant. Donlin, Recano & Company, Inc. is the claims and noticing agent. On April 17, 2023, the U.S. Trustee for Region 2 appointed two separate committees to represent unsecured creditors and tort claimants in the Debtor's Chapter 11 case. The unsecured creditors' committee tapped Lemery Greisler, LLC as legal counsel; Dundon Advisors, LLC as financial advisor; and OneDigital Investment Advisors, LLC as special investment consultant. Stinson, LLP and OneDigital Investment Advisors serve as the tort committee's legal counsel and special investment consultant, respectively. DIOCESE OF EL PASO: Comm. Taps Stinson LLP as Bankruptcy Counsel ---------------------------------------------------------------- The official committee of unsecured creditors of the Catholic Diocese of El Paso seeks approval from the U.S. Bankruptcy Court for the Western District of Texas to hire Stinson LLP as its bankruptcy counsel. The firm's services include: a) consulting with the Debtor and the Office of the United States Trustee regarding administration of the case; b) advising the Committee with respect to its rights, powers, and duties as they relate to the case; c) investigating the acts, conduct, assets, liabilities, and financial condition of the Debtor; d) assisting the Committee in analyzing the Debtor's pre-petition and post petition relationships with its creditors, equity interest holders, employees, and other parties in interest; e) assisting and negotiating on the Committee's behalf in matters relating to the claims of the Debtor's other creditors; f) assisting the Committee in preparing pleadings and applications as may be necessary to further the Committee's interests and objectives; g) researching, analyzing, investigating, filing and prosecuting litigation on behalf of the Committee in connection with issues including but not limited to avoidance actions or fraudulent conveyances; h) representing the Committee at hearings and other proceedings; i) reviewing and analyzing applications, orders, statements of operations, and schedules filed with the Court and advising the Committee regarding all such materials; j) aiding and enhancing the Committee's participation in formulating a plan; k) assisting the Committee in advising unsecured creditors of the Committee's decisions, including the collection and filing of acceptances and rejections to any proposed plan; l) negotiating and mediating issues relating to the value and payment of claims held by the Committee's constituency; and m) performing such other legal services as may be required and are deemed to be in the interests of the Committee. Stinson’s hourly rates are: Partners $585 to $1,000 Associates $350 to $590 Paralegals $250 to $325 Stinson received a retainer in the amount of $191,900. According to court filings, Stinson LLP is a "disinterested person" within the meaning of section 101(14) of the Bankruptcy Code. The firm can be reached through: Edwin H. Caldie, Esq. Andrew J. Glasnovich, Esq. Logan R. Kugler, Esq. STINSON LLP 50 South Sixth Street, Suite 2600 Minneapolis, MN 55402 Phone: (612) 335-1500 Email: ed.caldie@stinson.com drew.glasnovich@stinson.com logan.kugler@stinson.com About Roman Catholic Diocese of El Paso, Texas Roman Catholic Diocese of El Paso, Texas oversees parishes and Catholic institutions in the El Paso region. Roman Catholic Diocese of El Paso, Texas sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 26-30311) on March 6, 2026. In its petition, the Debtor reports estimated assets between $10 million and $50 million and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Christopher G. Bradley handles the case. The Debtor is represented by Lynn Hamilton Butler, Esq. of Husch Blackwell LLP. DOCK ON COOLEY: Hires Robert Bassel Esq. as Bankruptcy Counsel -------------------------------------------------------------- The Dock on Cooley, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Michigan to hire Robert Bassel, Esq. to handle its Chapter 11 case. The firm will be paid at $350 per hour. The firm received from the Debtor a retainer in the amount of $10,600. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Robert N. Bassel, Esq., disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Robert N. Bassel, Esq. P.O. Box T Clinton, MI 49236 Telephone: (248) 835-7683 Email: bbassel@gmail.com About The Dock on Cooley LLC The Dock on Cooley, LLC is a limited liability company engaged in hospitality and waterfront-related business operations. The Dock on Cooley sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Mich. Case No. 26-30869) on April 8, 2026, with between $100,001 and $500,000 in both assets and liabilities. Judge Joel D. Applebaum oversees the case. Robert N. Bassel, Esq., represents the Debtor as legal counsel. DODGE CONSTRUCTION: Oxford Square Marks $17.5M 2L Loan at 60% Off ----------------------------------------------------------------- Oxford Square Capital Corp. has marked its $17,528,637 loan extended to Dodge Construction Network LLC (f/k/a Dodge Data & Analytics, LLC) to market at $7,011,455 or 40% of the outstanding amount, according to Oxford Square's 10-Q for the period ended March 31, 2026, filed with the U.S. Securities and Exchange Commission on May 1, 2026. Oxford Square Capital Corp. is a participant in a second lien senior secured notes extended to Dodge Construction Network LLC (f/k/a Dodge Data & Analytics, LLC). The 2L Loan accrues interest at a rate of 12.10 % (SOFR + 8.25 %) PIK, (0.50 % floor) per annum. The 2L Loan matures on March 31, 2029. Oxford Square Capital Corp. is a closed-end, non-diversified management investment company that primarily invests in debt and income-producing securities. The Fund is led by Jonathan H. Cohen as Chief Executive Officer (Principal Executive Officer) and Bruce L. Rubin as Chief Financial Officer (Principal Accounting Officer). The Fund can be reached at: Jonathan H. Cohen Oxford Square Capital Corp. 8 Sound Shore Drive, Suite 255 Greenwich, CT 06830 Telephone: (203) 983-5275 About Dodge Construction Network LLC (f/k/a Dodge Data & Analytics, LLC) Dodge Construction Network LLC (f/k/a Dodge Data & Analytics, LLC) is a construction data and analytics firm that supplies project information, market intelligence and workflow solutions to participants across the building and infrastructure sectors. DODGE CONSTRUCTION: Oxford Square Marks $3.0M 1L Loan at 25% Off ---------------------------------------------------------------- Oxford Square Capital Corp. has marked its $3,009,642 loan extended to Dodge Construction Network LLC (f/k/a Dodge Data & Analytics, LLC) to market at $2,257,232 or 75% of the outstanding amount, according to Oxford Square's 10-Q for the period ended March 31, 2026, filed with the U.S. Securities and Exchange Commission on May 1, 2026. Oxford Square Capital Corp. is a participant in a first lien second out senior secured notes extended to Dodge Construction Network LLC (f/k/a Dodge Data & Analytics, LLC). The 1L Loan accrues interest at a rate of 8.55 % (SOFR + 4.75 %), (0.50 % floor) per annum. The 1L Loan matures on Feb. 28, 2029. Oxford Square Capital Corp. is a closed-end, non-diversified management investment company that primarily invests in debt and income-producing securities. The Fund is led by Jonathan H. Cohen as Chief Executive Officer (Principal Executive Officer) and Bruce L. Rubin as Chief Financial Officer (Principal Accounting Officer). The Fund can be reached at: Jonathan H. Cohen Oxford Square Capital Corp. 8 Sound Shore Drive, Suite 255 Greenwich, CT 06830 Telephone: (203) 983-5275 About Dodge Construction Network LLC (f/k/a Dodge Data & Analytics, LLC) Dodge Construction Network LLC (f/k/a Dodge Data & Analytics, LLC) is a construction-industry data and analytics provider that offers intelligence, research and workflow tools to contractors, suppliers and other building professionals. DRIVESMART SYSTEMS: Case Summary & 12 Unsecured Creditors --------------------------------------------------------- Debtor: Drivesmart Systems, Inc. DriveSmart Systems, LLC Drive Smart Georgia, LLC Drive Smart Georgia, Inc. Drive Smart Georgia DriveSmart Georgia 5805 State Bridge Rd Suite G-335 Duluth GA 30097 Business Description: Drivesmart Systems, Inc., operating as Drive Smart Georgia, provides drivers education, online drivers education, in-car driving lessons, road test tune-ups, and on-site road testing. The company serves teen and adult drivers and has locations in Milton, Johns Creek, Alpharetta, Cumming, Suwanee, and Roswell, Georgia. Its programs include classroom, Zoom, and online instruction formats. Chapter 11 Petition Date: May 4, 2026 Court: United States Bankruptcy Court Northern District of Georgia Case No.: 26-55833 Judge: Hon. Paul Baisier Debtor's Counsel: Will Geer, Esq. ROUNTREE, LEITMAN, KLEIN & GEER, LLC 2987 Clairmont Road, Suite 350 Atlanta GA 30329 Tel: 404-584-1238 E-mail: wgeer@rlkglaw.com Estimated Assets: $100,000 to $500,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Steven Jones as CEO. A copy of the Debtor's list of its 12 unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/QTAORNI/Drivesmart_Systems_Inc__ganbke-26-55833__0002.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/QWYA6SY/Drivesmart_Systems_Inc__ganbke-26-55833__0001.0.pdf?mcid=tGE4TAMA EL DORADO SENIOR: Quality of Care Maintained, 11th PCO Report Says ------------------------------------------------------------------ Fay Gordon, the State Long-Term Care Ombudsman, filed with the U.S. Bankruptcy Court for the Eastern District of California her 11th report regarding the quality of patient care provided at El Dorado Senior Care, LLC's assisted care living facility. The Long-Term Care Ombudsman Program (LTCOP) representatives conducted five unannounced visits between Feb. 13 and March 30, meeting with residents and staff, who generally reported satisfaction with the care and services provided. The LTCOP representatives observed stable staffing levels, including adequate administrative and direct care personnel, with no direct care vacancies across the six locations. The representatives conducted a full inspection of the indoor and outdoor areas, finding the facilities clean, well-maintained, well-stocked, and consistent in the standard of care across all six locations. The 11th ombudsman report is available for free at https://urlcurt.com/u?l=nRDdpi from PacerMonitor.com. About El Dorado Senior Care El Dorado Senior Care, LLC, a company in El Dorado Hills, Calif., owns and operates community care facilities for the elderly. El Dorado filed voluntary petition for Chapter 11 protection (Bankr. E.D. Calif. Case No. 24-22208) on May 21, 2024, with $3,420,371 in assets and $3,127,562 in liabilities. Benjamin L. Foulk, owner and manager, signed the petition. Judge Fredrick E. Clement oversees the case. D. Edward Hays, Esq., at Marshack Hays Wood, LLP, serves as the Debtor's legal counsel. Lisa Holder, a practicing attorney in Bakersfield, Calif., is the Chapter 11 trustee appointed in the Debtor's case. The trustee hired Pino & Associates as general bankruptcy counsel and Ratzlaff Tamberi & Gill, LLP as accountant. EQUUS TOTAL: Auditor BDO Resigns After 2025 Form 10-K ----------------------------------------------------- Equus Total Return Inc. (or the "fund") was notified April 29 that BDO USA, P.C. resigned as the fund's independent auditor, according to a filing with the Securities and Exchange Commission. The fund said BDO's reports on its financial statements for the fiscal years ended Dec. 31, 2025, and 2024 contained no adverse opinion, disclaimer of opinion or qualification or modification as to uncertainty, audit scope or accounting principles. Equus said there were no disagreements with BDO during the year ended Dec. 31, 2025, and through April 29, 2026. It added there were no reportable events except for material weaknesses previously reported in its annual report on Form 10-K for the year ended Dec. 31, 2025. The company disclosed the material weaknesses involved management review controls over valuation of the fund's portfolio investment, including review procedures over the completeness and accuracy of information provided to third parties assisting with fair-value recommendations. It also cited controls relating to measurement and assessment of complex accounting transactions, including warrants. Equus said the deficiencies did not result in a misstatement to its financial statements but could result in misstatements potentially affecting certain accounts and disclosures. BDO furnished a May 4 letter to the SEC saying it agreed with the statements made in response to Item 4.01 insofar as they relate to the firm. About Equus Total Equus Total Return Inc. is a Houston-based closed-end management investment company formed in 1991 and elected to be treated as a business development company under the Investment Company Act of 1940. The company seeks a total return objective made up of capital appreciation and current income, investing in debt and equity securities of companies generally with total enterprise values of $5 million to $75 million. Its investments include debt securities, convertible debt, warrants, common and preferred stock, and equity-oriented securities of privately owned or smaller public companies. In an audit report dated April 16, 2026, BDO USA, P.C. included a going concern qualification, stating that the fund had insufficient operating cash flows and cash on hand. The conditions raised substantial doubt about the fund's ability to continue as a going concern. As of Dec. 31, 2025, the company reported total assets of $21.34 million, total liabilities of $4.77 million and total net assets of $16.57 million. ESV PROPERTIES: Voluntary Chapter 11 Case Summary ------------------------------------------------- Debtor: ESV Properties, LP La Jolla CA 92037 Chapter 11 Petition Date: May 4, 2026 Court: United States Bankruptcy Court Southern District of California Case No.: 26-01985 Judge: Hon. Christopher B Latham Debtor's Counsel: Marc Steven Applbaum, Esq. MIDWAY LAW FIRM APC 4275 Executive Square Suite 200 La Jolla CA 92037 Tel: 760-484-1203 E-mail: bobby@midwaylawfirm.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $10 million to $50 million The petition was signed by Sam Vallagomesa as officer. 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/EGY6NLY/ESV_Properties_LP__casbke-26-01985__0001.0.pdf?mcid=tGE4TAMA EXCELIN HOME: OFS Capital Marks $7.4M 2L Loan at 76% Off -------------------------------------------------------- OFS Capital Corp has marked its $7,439,000 loan extended to Excelin Home Health, LLC to market at $1,793,000 or 24% of the outstanding amount, according to OFS Capital's 10-Q for the period ended March 31, 2026, filed with the U.S. Securities and Exchange Commission on May 1, 2026. OFS Capital Corp is a participant in a second lien debt extended to Excelin Home Health, LLC. The 2L Loan accrues interest at a rate of 18.00% PIK per annum. The 2L Loan matures on Oct. 1, 2026. OFS Capital Corp is a business development company that provides debt and equity financing solutions to middle-market companies in the United States. The Fund is led by Bilal Rashid as Chief Executive Officer and Kyle Spina as Chief Financial Officer. The Fund can be reached at: Bilal Rashid OFS Capital Corporation 222 W. Adams Street, Suite 1850 Chicago, IL 60606 Telephone: (847) 734-2000 About Excelin Home Health, LLC Excelin Home Health, LLC provides home health care services, delivering medical and supportive care to patients in residential settings. EYESTONE INVESTMENTS: Hires Michael E. Gazette as Legal Counsel --------------------------------------------------------------- Eyestone Investments, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Texas to hire the Law Office of Michael E. Gazette as counsel. The firm will provide these services: (a) provide advice to Debtor; (b) prepare and file the petition, schedules, and statement of financial affairs; (c) prepare and file a disclosure statement and plan of reorganization; (d) negotiate with creditors; (e) review executory contracts; (f) review claims; (g) respond to and appear at hearings on contested matters; and (h) address any further matters which may arise. Mr. Gazette shall receive an hourly rate of $400 for attorney services and $50 for paraprofessional services. The firm received a retainer in the amount of $25,000. The Law Offices of Michael E. Gazette is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Michael E. Gazette, Esq. LAW OFFICES OF MICHAEL E. GAZETTE 100 East Ferguson Street, Suite 1000 Tyler, TX 75702-5706 Telephone: (903) 596-9911 Telecopier: (903) 596-9922 E-mail: megazette@suddenlinkmail.com About Eyestone Investments, LLC Eyestone Investments, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Tex. Case No. 26-60222) on April 6, 2026, listing $500,001 to $1 million in both assets and liabilities. Michael E. Gazette, Esq. serves as the Debtor's counsel. EYWA TRADING: Voluntary Chapter 11 Case Summary ----------------------------------------------- Debtor: Eywa Trading Consultants LLC 2162 Spring Stuebner Rd 140-120 Spring, TX 77389 Business Description: Eywa Trading Consultants LLC owns and leases residential real estate properties in Spring and Tomball, Texas. The company's property portfolio includes single-family and townhome assets with a combined appraised value of about $1.31 million. Chapter 11 Petition Date: May 4, 2026 Court: United States Bankruptcy Court Southern District of Texas Case No.: 26-33219 Judge: Hon. Jeffrey P Norman Debtor's Counsel: Jeremy Wood, Esq. LAW OFFICES OF JEREMY T. WOOD, PLLC 2950 N Loop West Suite 500 Houston TX 77092 Tel: (713) 366-1288 E-mail: jeremy@jeremywoodlaw.com Total Assets: $1,323,249 Total Liabilities: $863,499 The petition was signed by Tronown Thomas as managing member. The Debtor submitted a list of its 20 largest unsecured creditors; however, the list was empty. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/XINAC7A/Eywa_Trading_Consultants_LLC__txsbke-26-33219__0001.0.pdf?mcid=tGE4TAMA FO&O INC: Case Summary & 13 Unsecured Creditors ----------------------------------------------- Debtor: FO&O Inc. 6431 Mulberry Lane Midlothian, TX 76065 Business Description: FO&O Inc. provides utility and telecommunication construction services from Midlothian, Texas. The company's work includes cabling, digging, boring, right-of-way utility work and fiber-related construction services, with permit records tied to telecommunications infrastructure projects in Texas. Chapter 11 Petition Date: May 3, 2026 Court: United States Bankruptcy Court Northern District of Texas Case No.: 26-31941 Judge: Hon. Scott W Everett Debtor's Counsel: Steven E. Wallace, Esq. WALLACE LAW, PLLC 13747 Montfort Drive, Suite 350 Dallas, Texas 75240 Tel: $214) 706-9191 E-mail: wallacelaw1@me.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Martin Derrick Norwood Jr. as president. A full-text copy of the petition, which includes a list of the Debtor's 13 unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/TDLC7UQ/FOO_Inc__txnbke-26-31941__0001.0.pdf?mcid=tGE4TAMA FORT DEFIANCE: Hires Keegan Linscott & Associates as Accountant --------------------------------------------------------------- Fort Defiance Housing Corporation seeks approval from the U.S. Bankruptcy Court for the District of Arizona to hire Keegan, Linscott & Associates, P.C. as accountants. The firm will render these services: a. prepare and file the Debtor's federal and state tax returns; and b. provide the estate with other auditing, and accounting services as needed. The firm will be paid at these rates: Christopher Linscott $425 per hour Manager $325 per hour Supervisor $225 per hour Senior $175 per hour Staff $125 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. The firm received a retainer in the amount of $58,600. Christopher Linscott, a partner at Keegan Linscott & Associates, PC, disclosed in a court filing that his firm is a "disinterested person" pursuant to Section 101(14) of the Bankruptcy Code. The firm can be reached at: Christopher G. Linscott, CPA Keegan Linscott & Associates, PC 3443 N Campbell Avenue, Suite 115 Tucson, AZ 85719 Tel: (520) 884-0176 Fax: (520) 884-8767 Email: clinscott@keeganlinscott.com About Fort Defiance Housing Corporation Fort Defiance Housing Corporation, doing business as Sandstone Housing Corp., is an Albuquerque, New Mexico-based nonprofit housing organization that owns, manages and operates affordable housing projects on the Navajo Nation in Arizona and New Mexico. Organized in the late 1960s, it serves low-and moderate-income families and works with HUD, USDA and NAHASDA programs. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 26-03754) on April 17, 2026. In the petition signed by Shelby Garcia, chief executive officer, the Debtor disclosed up to $50 million in both assets and liabilities. Judge Paul Sala oversees the case. Frederick J. Petersen, Esq., at Mesch Clark Rothschild, represents the Debtor as legal counsel. FORTA LLC: Oxford Square Marks $8.3M 2L Loan at 48% Off ------------------------------------------------------- Oxford Square Capital Corp. has marked its $8,331,290 loan extended to Forta, LLC (f/k/a Help/Systems Holdings, Inc.) to market at $4,332,271 or 52% of the outstanding amount, according to Oxford Square's 10-Q for the period ended March 31, 2026, filed with the U.S. Securities and Exchange Commission on May 1, 2026. Oxford Square Capital Corp. is a participant in a second lien senior secured notes extended to Forta, LLC (f/k/a Help/Systems Holdings, Inc.). The 2L Loan accrues interest at a rate of 3.76 % (SOFR, 2.00 % floor) cash, 9.00 % PIK per annum. The 2L Loan matures on May 21, 2029. Oxford Square Capital Corp. is a closed-end, non-diversified management investment company that primarily invests in debt and income-producing securities. The Fund is led by Jonathan H. Cohen as Chief Executive Officer (Principal Executive Officer) and Bruce L. Rubin as Chief Financial Officer (Principal Accounting Officer). The Fund can be reached at: Jonathan H. Cohen Oxford Square Capital Corp. 8 Sound Shore Drive, Suite 255 Greenwich, CT 06830 Telephone: (203) 983-5275 About Forta, LLC (f/k/a Help/Systems Holdings, Inc.) Forta, LLC (f/k/a Help/Systems Holdings, Inc.) is an enterprise software company that provides security, automation and systems management solutions to corporate and institutional customers. FREEDOM FOREVER: Two Affiliates File Voluntary Chapter 11 Cases --------------------------------------------------------------- Lead Debtor: Freedom Forever Pennsylvania, LLC 43445 Business Park Drive, Suite 104 Temecula CA 92590 Business Description: Freedom Forever Procurement LLC is a Temecula, California-based entity connected to Freedom Forever's residential solar business and solar equipment procurement activities. Freedom Forever Pennsylvania, LLC is an affiliated entity licensed in Pennsylvania for home improvement and electrical contracting work related to solar services. Chapter 11 Petition Date: May 2, 2026 Court: United States Bankruptcy Court District of Delaware Two affiliates that concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code: Debtor Case No. ------ -------- Freedom Forever Pennsylvania, LLC 26-10651 Freedom Forever Procurement LLC 26-10652 Judge: Hon. Brendan Linehan Shannon Debtors' Restructuring Counsel: Curtis S. Miller, Esq. MORRIS, NICHOLS, ARSHT & TUNNELL LLP 1201 N Market St PO Box 1347 Wilmington DE 19899-1347 Tel: 302-658-9200 Email: cmiller@morrisnichols.com Debtors' Special Counsel: HOLLAND & HART LLP Debtors' Financial Advisor: BERKELEY RESEARCH GROUP, LLC Debtors' Claims & Noticing Agent: KROLL RESTRUCTURING ADMINISTRATION LLC Freedom Forever Pennsylvania's Estimated Assets: $10 million to $50 million Freedom Forever Pennsylvania's Estimated Liabilities: $1 million to $10 million Freedom Forever Procurement's Estimated Assets: $100 million to $500 million Freedom Forever Procurement's Estimated Liabilities: $100 million to $500 million The petitions were signed by Brett Bouchy as authorized person. The petitions were filed without the Debtors' lists of their 20 largest unsecured creditors. Full-text copies of the petitions are available for free on PacerMonitor at: https://www.pacermonitor.com/view/CIJOJFQ/Freedom_Forever_Pennsylvania_LLC__debke-26-10651__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/CUOJYKY/Freedom_Forever_Procurement_LLC__debke-26-10652__0001.0.pdf?mcid=tGE4TAMA FRESHREALM INC: Gets Interim OK for DIP Financing ------------------------------------------------- FreshRealm, Inc. and affiliates received interim approval from the U.S. Bankruptcy Court for the District of New Jersey for authority to use cash collateral and obtain post-petition financing to get through bankruptcy. The Debtors filed Chapter 11 cases to preserve corporate value through the Blue Apron settlement. This strategy involves transitioning the Blue Apron business to Misfits Market and conducting value-maximizing sale transactions for remaining assets. At the time of filing, the Debtors held approximately $19.4 million in cash—an amount below the minimum threshold required to maintain going-concern operations. Furthermore, because substantially all existing cash is considered "cash collateral" under pre-petition agreements, the Debtors require court authorization to access these funds and secure new financing to prevent a total cessation of operations and a loss of vendor confidence. To address this liquidity crisis, the Debtors have negotiated a superpriority senior secured priming debtor-in-possession facility with their existing lenders, Birch Grove Investments, LLC and FaraNord (US) IV Pte Ltd. This DIP facility provides for a total of $18 million in new money loans, which includes a $3 million pre-petition protective advance and $15 million in new post-petition commitments. Additionally, the facility includes a "roll-up" component totaling $45 million, which converts existing first and second lien pre-petition debt into DIP obligations. The financing is structured as a multiple-draw term loan that bears interest at the SOFR rate plus 800 basis points, with the interest being paid in kind by adding it to the principal balance of the loans. BGC Lender Rep LLC, is the administrative agent and collateral agent for the DIP lenders. The DIP facility is due and payable on the earliest of: (i) six months after the petition date; (ii) if the Final DIP Order has not been entered by the bankruptcy court on or before the applicable milestone, the date of the applicable milestone; (iii) the date of acceleration of the DIP loans and the termination of the DIP lenders' commitments under the DIP Facility pursuant to the terms of the DIP Credit Agreement; (iv) the date the bankruptcy court orders the conversion of the chapter 11 case of any of the Debtors to a chapter 7 liquidation or the dismissal of the chapter 11 case of any Debtor; (v) the filing by the Debtors of a proposed chapter 11 plan other than the acceptable plan; and (vi) the effective date of an acceptable plan. The Debtors are required to comply with these milestones: 1. no later than the petition date, the Debtors must have filed and served the motion, pursuant to Rule 9019 of the Federal Rules of Bankruptcy Procedure, to compromise and settle certain claims and/or causes of action, which settlement must be by and between the Borrower and Blue Apron and which settlement shall be in a form subject to the consent of the required DIP lenders, whose consent must not be unreasonably withheld; 2. no later than two Business Days after the petition date, the bankruptcy court must have entered the Interim DIP Order, which order must be acceptable to the DIP lenders in their sole discretion; 3. the Debtors must file, by the date that is no later than 10 days after the petition date, a motion to sell all of the Debtors' assets that are not subject to the 9019 settlement, through a sale pursuant to section 363 of the Bankruptcy Code in form and substance reasonably acceptable to the DIP Lender; 4. no later than 31 days after the petition date, the bankruptcy court must have entered the Final DIP Order, which order must be acceptable to the DIP lenders in their sole discretion; 5. the bankruptcy court must have entered an order approving the bidding procedures of the sale contemplated by the sale motion by the date that is no later than 31 days after the petition date; 6. no later than 31 days after the petition date, the bankruptcy court must have entered the order approving the Settlement Motion, which order must be in a form subject to the consent of the required DIP lenders, whose consent must not be unreasonably withheld; 7. no later than 60 days after entry of the Interim DIP Order, the period by which any creditor can challenge the DIP lenders' pre-petition liens or claims must expire; 8. the bankruptcy court must have entered an order approving the sale by the date that is no later than 75 days after the petition date; 9. the sale must be consummated by the date that is no later than 90 days after the petition date; and 10. a liquidating chapter 11 plan, that is otherwise an acceptable plan, must be consummated by the date that is no later than the later of 30 days after consummation of the sale or completion of the transition services under the Settlement Order. In exchange for this financing, the Debtors offers to grant the DIP lenders superpriority administrative expense claims and perfected priming liens on all estate assets. To protect the interests of pre-petition lenders whose security positions are being "primed" or superseded by this new debt, the Debtors offers a package of adequate protection. This includes replacement liens, the payment of interest on pre-petition loans in kind, and the reimbursement of professional fees. The Debtors assert that this financing represents the best and only option available after an exhaustive search for capital, serving as a critical signal to employees and suppliers that the company remains adequately capitalized to meet its obligations throughout the restructuring. A copy of the interim DIP order is available at https://is.gd/wrsjkW from PacerMonitor.com. The final hearing is set for May 21. The deadline for filing objections is on May 14. Birch Grove Investments, as DIP lender, is represented by: SILLS CUMMIS & GROSS P.C. Andrew H. Sherman, Esq. Boris Mankovetskiy, Esq. Gregory A. Kopacz, Esq. One Riverfront Plaza Newark, NJ 07102 Telephone: (973) 643-7000 asherman@sillscummis.com bmankovetskiy@sillscummis.com gkopacz@sillscummis.com -and- HERBERT SMITH FREEHILLS KRAMER (US) LLP Robert T. Schmidt, Esq. Natan Hamerman, Esq. Jennifer R. Sharret, Esq. Andrew J. Citron, Esq. 1177 Avenue of the Americas New York, NY 10036 Telephone: (212) 715-9100 robert.schmidt@hsfkramer.com natan.hamerman@hsfkramer.com jennifer.sharret@hsfkramer.com andrew.citron@hsfkramer.com FaraNord, as DIP lender, is represented by: McCARTER & ENGLISH, LLP Jeffrey T. Testa, Esq. 100 Mulberry Street Four Gateway Center Newark, NJ 07102 Telephone: (973) 622-4444 jtesta@mccarter.com -and- Christopher Marcus, P.C. KIRKLAND & ELLIS LLP 601 Lexington Avenue New York, NY 10022 Telephone: (212) 446-4878 christopher.marcus@kirkland.com -and- Kelly Meyer, Esq. KIRKLAND & ELLIS LLP 333 West Wolf Point Plaza Chicago, IL 60654 Telephone (312) 862-4349 kelly.meyer@kirkland.com About FreshRealm Inc. FreshRealm, Inc operate a food development, manufacturing and fulfillment business founded in 2013 and spun off as independent companies in 2021. The company's principal assets and place of business are located in Linden, New Jersey, with additional operating facilities primarily in Lancaster, Texas, and Tracy, California. FreshRealm provides meal kit and prepared meal manufacturing, fulfillment, packing, and shipping services for direct-to-consumer, grocery, performance, lifestyle, and medically focused channels. Its customers include Blue Apron, LLC and MMM Consumer Brands, Inc., known as Marley Spoon. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. N.J. Lead Case No. 26-14656) on April 27, 2026. In the petition signed by Bryan Fleming, chief financial officer, the Debtor disclosed up to $500 million in both assets and liabilities. Judge Mark Edward Hall oversees the case. The Debtors tapped COLE SCHOTZ P.C. As restructuring and bankruptcy counsel, Alvarez and Marsal North America, LLC as financial restructuring adviser, Rothschild and Co., as investment banker, and Kroll Restructuring Administration LLC as notice, claims, solicitation, balloting and administrative agent. GENESIS HEALTHCARE: Court Vacates 2025 Extend Stay Order -------------------------------------------------------- Senior Judge Jane J. Boyle of the U.S. District Court for the Northern District of Texas vacates the order issued by the U.S. Bankruptcy Court for the Northern District of Texas October 14, 2025 extending the automatic stay in the bankruptcy case of Genesis Healthcare, Inc. to the non-debtor defendants (the Extend Stay Order") and remands to the Bankruptcy Court for further proceedings. Before the Court are three consolidated appeals challenging the Extend Stay Order captioned as ESTATE OF ALMA BROWN, et al., Plaintiffs/Appellants, v. 1 GLEN HILL ROAD OPERATIONS LLC, et al., Defendants/Appellees; ALMEDA, et al., Plaintiffs/Appellants, v. 1 GLEN HILL ROAD OPERATIONS LLC, et al., Defendants/Appellees; and ADAM HOFFMAN, as Power of Attorney of RITA HOFFMAN, et al., Plaintiffs/Appellants, v. GENESIS HEALTHCARE, INC., et al., Defendants/Appellees, CIVIL ACTION NO. 3:25-CV-2963-B (N.D. Tex.). The first group of appellants is headlined by the Estate of Alma Brown (the "Brown Appellants"). The Brown Appellants moved to certify a direct appeal to the Fifth Circuit, to which the Appellees responded and the Brown Appellants replied. The motion to certify a direct appeal is denied. The second group of appellants is headlined by Joanne Almeda (the "Almeda Appellants"). The third group of appellants is headlined by Adam Hoffman (the "Hoffman Appellants"). The debtors in this bankruptcy case (and Appellees on appeal) are Genesis Healthcare, Inc. and several affiliates ("Genesis"). Appellants purportedly hold healthcare negligence, personal injury, and wrongful death claims against both Genesis and Genesis affiliates that are not debtors in the bankruptcy case. The non-debtor affiliates against whom the Appellants hold claims include investors and equity holders of Genesis, the healthcare professionals who personally committed the wrongful acts, and the staffing service that placed personnel at Genesis facilities. Upon Genesis's filing of its bankruptcy petition, all claims against the debtors -- including Appellants' claims -- were automatically stayed under 11 U.S.C. Sec. 362. The automatic stay means that Appellants cannot proceed with their claims or collections against any debtor outside of bankruptcy court. This appeal involves the Bankruptcy Court's order on Genesis's motion to extend the Sec. 362 stay to cover claims that it did not automatically cover (the "Extend Stay Motion"). In September 2025, Genesis filed that motion seeking to stay claims against a set of non-debtors that included its employees, officers, and directors; certain independent physicians affiliated with Genesis; and others to whom Genesis would contractually owe indemnification, such as the landlords of facilities that Genesis rents. Appellants opposed the Extend Stay Motion. The Brown and Almeda Appellants opposed the Extend Stay Motion on multiple grounds, including that Genesis had failed to commence an adversary proceeding as required by FRBP 7001. The Hoffman Appellants objected but did not raise the lack of an adversary proceeding as an issue. At the end of the hearing, the Bankruptcy Court concluded that Genesis had met its burden to show that a temporary extension of the stay was appropriate. The Bankruptcy Court noted that there was an "identity of interests" between Genesis and the non-debtors to whom Genesis sought to extend the stay. The Bankruptcy Court reasoned that not extending the stay could result in indemnity claims by the non-debtor affiliates against Genesis's bankruptcy estate. The Bankruptcy Court also expressed concern that not extending the stay would lead to chaos and interfere with Genesis's sale of assets and reorganization. Six days after the hearing, the Bankruptcy Court granted the Extend Stay Motion and issued the Extend Stay Order. The Extend Stay Order also extended the automatic stay to "prohibit the severing of claims in the Lawsuits by the applicable Non-Bankruptcy Court that would allow claims against the Non-Debtor Defendants to proceed." "For the avoidance of doubt," the Bankruptcy Court clarified that the extensions granted in the Extend Stay Order did not modify the "automatic" inclusion within the Sec. 362 stay of claims that were already property of the debtor's estate. Appellants timely appealed to challenge the propriety of the Extend Stay Order. The District Court finds that the Bankruptcy Court erred by not following procedural requirements stated in Fifth Circuit precedent. The Brown Appellants move to certify a direct appeal based on the second and fourth circumstances under Sec. 158(d)(2)(A): that the bankruptcy court's order involves a "matter of public importance" and that immediate appeal would "materially advance the progress of the case." The Brown Appellants' lead argument for direct appeal is that the Extend Stay Order strips them of their important right to sue non-debtors, which analytically fits under the second route but likewise does not meet the standard for a "matter of public importance." The Brown Appellants have not argued, for example, that real individuals outside of this bankruptcy case might wish to sue non-debtors but are improperly barred from doing so under the Extend Stay Order. The Extend Stay Order, on the briefing before the District Court, appears to impact only the litigants. Thus, the Court has no factual basis to determine that it involves major practical ramifications beyond the litigants. The Hoffman Appellants, because they did not object to the procedure in the Bankruptcy Court, target the substance of the Extend Stay Order and say nothing about procedure. The District Court cannot, however, assess the substantive propriety of the Extend Stay Order when procedural safeguards, including adherence to the preliminary injunction factors, were not followed. The Brown and Almeda Appellants' appeals result in vacatur of the Extend Stay Order, and the Bankruptcy Court may, on remand, consider the Hoffman Appellants' substantive arguments in a proper proceeding if any party seeks an extension of the Sec. 362 stay. A copy of the Court's Memorandum Opinion and Order dated May 1, 2026, is available at https://urlcurt.com/u?l=6HEgOF from PacerMonitor.com. About Genesis Healthcare Inc. Based in Culver City, Calif., Genesis Healthcare Inc. is a medical group that provides physician services in Southern California. Genesis Healthcare has operated under the names Daehan Prospect Medical Group and Prospect Genesis Healthcare. Genesis Healthcare Inc. and several affiliated debtors sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Lead Case 25-80185) on July 9, 2025. In its petition, Genesis Healthcare Inc. listed between $1 billion and $10 billion in estimated assets and liabilities. The Hon. Bankruptcy Judge Stacey G. Jernigan handles the jointly administered cases. The Debtors employed McDermott Will & Schulte LLP as counsel; Jefferies LLC as investment banker; and Ankura Consulting Group, LLC, as restructuring advisors, and designated Louis E. Robichaux IV and Russell A. Perry as co-chief restructuring officers. Katten Muchin Rosenman LLP serves as special counsel at the sole direction of Jonathan Foster and Elizabeth LaPuma in their capacity as independent directors and members of the special investigation committee. The U.S. Trustee appointed an official committee of unsecured creditors in the Chapter 11 cases of Genesis Healthcare Inc. and affiliates. The committee retained Proskauer Rose LLP and Stinson LLP as its co-counsel; FTI Consulting, Inc., as its financial advisors; and Houlihan Lokey Capital, Inc. as its investment banker. GLACIER CAR: Case Summary & Seven Unsecured Creditors ----------------------------------------------------- Debtor: Glacier Car and Dog Wash LLC 9140 Huron St. Thorton, CO 80260 Business Description: Glacier Car and Dog Wash LLC operates a car and dog wash in Thornton, Colorado. The company provides touchless automatic car washes, self-serve wash bays, and dog wash services, as well as related offerings such as wash packages, gift cards, family plans, fleet services, fundraising programs, and a mobile app. Glacier Car and Dog Wash LLC is a minority-owned, family- operated business with more than 30 years of professional vehicle cleaning experience. Chapter 11 Petition Date: May 4, 2026 Court: United States Bankruptcy Court District of Colorado Case No.: 26-13121 Judge: Hon. Kimberley H Tyson Debtor's Counsel: Aaron A. Garber, Esq. WADSWORTH GARBER WARNER CONRARDY, P.C. 2580 West Main Street Suite 200 Littleton, CO 80120 Tel: 303-296-1999 E-mail: agarber@wgwc-law.com Total Assets: $1,753,659 Total Liabilities: $3,399,367 The petition was signed by Seana Cabral as vice president. A copy of the Debtor's list of its seven unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/X552TMA/Glacier_Car_and_Dog_Wash_LLC__cobke-26-13121__0003.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/XWH7C4A/Glacier_Car_and_Dog_Wash_LLC__cobke-26-13121__0001.0.pdf?mcid=tGE4TAMA GNC HOLDINGS: Court Awards Costs to CITIC, et al. in DNJ Action --------------------------------------------------------------- Chief Judge Karen B. Owens of the U.S. Bankruptcy Court for the District of Delaware granted the Rule 41(d) Motion of CITIC Capital Partners LLC, GNC Holdings, LLC, ZT Biopharmaceutical LLC, Hans Allegaert, Cameron Lawrence, Kenneth A. Martindale, Tricia K. Tolivar, Susan M. Canning, Alan D. Feldman, Michael F. Hines, Amy B. Lane, Philip E. Mallott, Michele S. Meyer, Robert F. Moran, Evercore Inc., and Gregory Berube (the "Moving Defendants") in the adversary proceeding captioned as John Yong Tang and Faris Al Kooheji, on behalf of themselves and others similarly situated, Plaintiffs, v. CITIC Capital Holdings Ltd., et al., Defendants, Adv. Proc. No. 24-50020 (KBO) (Bankr. D. Del.). This adversary proceeding arises from the bankruptcy proceeding of GNC Holdings, Inc. ("GNC") and several of its affiliated entities (together with GNC, the "Debtors"), which filed for bankruptcy in this Court in June 2020. Almost a year after the Court confirmed the Debtors' plan of reorganization, Plaintiffs filed an action in the District of New Jersey against the Overlapping Defendants and eight others, who were purchasers of GNC's assets and certain of GNC's directors, officers, and advisors involved in the bankruptcy (the "DNJ Action"). In the DNJ Action, the Plaintiffs alleged claims for federal civil RICO, federal civil RICO conspiracy, New Jersey RICO, New Jersey RICO conspiracy, fraud, conspiracy, breach of fiduciary duties, conversion, negligence, and aiding and abetting conspiracy. These claims "rested on the fundamental allegation that Defendants conspired to force GNC into a ‘sham' bankruptcy for their benefit and to the detriment of the Plaintiffs. The defendants filed motions to dismiss Plaintiffs' claims and a motion to transfer the DNJ Action to this Court pursuant to 28 US.C. Secs. 1412 and 1404(a). The District of New Jersey granted the transfer motion, concluding that the claims asserted by Plaintiffs here are inextricably intertwined with the GNC Bankruptcy Case. Thereafter, the DNJ Action was transferred to the Delaware District Court and referred to this Court, where it was docketed as adversary proceeding number 24-50422. A few weeks later, Plaintiffs voluntarily dismissed the proceeding. Approximately 3 months later, Plaintiffs filed a complaint in the Southern District of New York (the "SDNY Action"). Plaintiffs state that this complaint is an amended version of the complaint in the DNJ Action. The defendants are the Overlapping Defendants, two other DNJ Action defendants, and six new named defendants. Plaintiffs dropped the New Jersey RICO and New Jersey RICO conspiracy claims asserted in the DNJ Action but kept the remainder of their DNJ Action claims. With minimal changes, the allegations supporting the claims are identical. The newly added defendants are similarly situated to the DNJ Action defendants -- alleged as either affiliates of the purchasers of GNC's assets or Debtor directors or officers. The defendants in the SDNY Action filed another set of motions to dismiss and a motion to transfer to this Court. Moving Defendants also filed the Rule 41(d) Motion seeking to recover costs incurred from the DNJ Action. Plaintiffs opposed these motions. Without ruling on the Rule 41(d) Motion or the motions to dismiss, the Southern District of New York granted the motion to transfer and ordered the transfer of the SDNY Action to the District of Delaware because the allegations turned on the integrity of GNCs Chapter 11 proceedings in Delaware Bankruptcy Court. Thereafter, the SDNY Action was transferred to the Delaware District Court, referred to this Court, and docketed as this adversary proceeding. The Rule 41(d) Motion seeks an order, pursuant to Rule 41(d) of the Federal Rules of Civil Procedure, made applicable to this proceeding by Rule 7041 of the Federal Rules of Bankruptcy Procedure, awarding costs to the Moving Defendants in an amount to be determined at a later date and staying this proceeding until such payment is made. Moving Defendants assert that this relief is appropriate because of Plaintiffs' alleged forum shopping to avoid this Court after receiving two adverse venue-related decisions from district courts, which caused the Moving Defendants considerable expense. Plaintiffs oppose the Motion. Plaintiffs argue that Rule 41(d) does not apply because the SDNY Action is substantially different from the DNJ Action. Plaintiffs highlight the changes in the two complaints, namely the identity of the defendants, the scope and factual allegations, the claims, and the targets of the claims. While the Court agrees that these changes exist, it does not find that they are sufficiently substantial to avoid Rule 41(d)'s "same claim, same defendant" requirement. The complaint filed in the SDNY Action asserts two less claims and includes some different defendants. But as determined by the Delaware District Court, the theories of Plaintiffs' complaints in the DNJ Action and the SDNY Action "are the same." The remaining claims and theories of the complaint are identical to the DNJ Action against a subset of the same defendants as the DNJ Action (including the Overlapping Defendants). The Plaintiffs did not materially alter the factual allegations supporting these claims. And the relief they seek is identical to the relief sought in the DNJ Action. The Court finds on these facts that the SDNY Action is based on and includes the same claims as the DNJ Action against the same defendants -- the Overlapping Defendants. The remaining Moving Defendants were not defendants in the DNJ Action. They are thus not entitled to Rule 41(d) relief by its plain language, and the Moving Defendants do not provide any case law or arguments in support of its extension to them. Plaintiffs admit that this Court was not their chosen forum. However, that alone is not troublesome to the Court. It is the Plaintiffs' behavior following the transfer of the DNJ Action that warrants Rule 41(d) relief. They voluntarily dismissed the DNJ Action from this Court and filed it in another favored venue with their desired amendments without opposition or court-oversight. In other words, the Plaintiffs purposely acted to avoid the adversarial process that would necessarily follow if they had remained in this Court and pursued one of the three options available to them by the Bankruptcy Code and Rules (i.e. appeal, request withdrawal of the reference, or seek to amend). The behavior is not in good faith as Plaintiffs' urge this Court to find. It is forum shopping and vexatious. Accordingly, the Court finds that an award of costs warranted. The Plaintiffs' conduct prejudiced the Overlapping Defendants. The Overlapping Defendants incurred needless expenditures briefing transfer and dismissal motions under Third Circuit law in the DNJ Action only to repeat the process under Second Circuit law in the SDNY Action. Plaintiffs argue that the Court should not award costs because they are unable to pay. According to the Court, no evidence has been provided in support of Plaintiffs' financial wherewithal. For these reasons, the Court grants the Rule 41(d) Motion as follows: 1. The Plaintiffs are ordered to pay the costs incurred by the Overlapping Defendants in the DNJ Action in an amount to be determined. 2. Until such costs have been paid to the Overlapping Defendants or further order of the Court, this proceeding is stayed. A copy of the Court's Memorandum Order dated April 29, 2026, is available at https://urlcurt.com/u?l=CP1Ooy from PacerMonitor.com. About GNC Holdings GNC Holdings Inc. -- http://www.gnc.com/-- is a global health and wellness brand with a diversified omnichannel business. In its stores and online, GNC Holdings sells an assortment of performance and nutritional supplements, vitamins, herbs and greens, health and beauty, food and drink, and other general merchandise, featuring innovative private-label products as well as nationally recognized third-party brands, many of which are exclusive to GNC Holdings. GNC Holdings and its affiliates sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Lead Case No. 20-11662) on June 23, 2020. The Debtors disclosed $1,415,957,000 in assets and $895,022,000 in liabilities as of March 31, 2020. Judge Karen B. Owens oversees the cases. The Debtors tapped Young Conaway Stargatt & Taylor, LLP, and Latham & Watkins, LLP as legal counsel; Evercore Group, LLC as investment banker and financial advisor; FTI Consulting, Inc., as financial advisor; and Prime Clerk as claims and noticing agent. Torys LLP is the legal counsel in the Companies' Creditors Arrangement Act case. GOTO GROUP: OFS Capital Marks $2.2M 1L Loan at 48% Off ------------------------------------------------------ OFS Capital Corp has marked its $2,200,000 loan extended to GoTo Group (F/K/A LogMeIn, Inc.) to market at $1,152,000 or 52% of the outstanding amount, according to OFS Capital’s 10-Q for the period ended March 31, 2026, filed with the U.S. Securities and Exchange Commission on May 1, 2026. OFS Capital Corp is a participant in a first lien debt extended to GoTo Group (F/K/A LogMeIn, Inc.). The 1L Loan accrues interest at a rate of 8.57%, SOFR + 4.75% per annum. The 1L Loan matures on April 28, 2028. OFS Capital Corp is a business development company that provides debt and equity financing solutions to middle-market companies in the United States. The Fund is led by Bilal Rashid as Chief Executive Officer and Kyle Spina as Chief Financial Officer. The Fund can be reached at: Bilal Rashid OFS Capital Corporation 222 W. Adams Street, Suite 1850 Chicago, IL 60606 Telephone: (847) 734-2000 About GoTo Group, formerly known as LogMeIn, Inc. GoTo Group, formerly known as LogMeIn, Inc., provides data processing, hosting and related services, including cloud-based connectivity and collaboration software. HANSEN-MUELLER: Certain Texas Producers Grain Claims Disallowed --------------------------------------------------------------- Judge Thomas L. Saladin of the U.S. Bankruptcy Court for the District of Nebraska disallowed certain grain claims filed by the Texas Producers in the bankruptcy case of Hansen-Mueller Co. This matter is before the Court on Debtor's Omnibus Objection to Certain Claims Filed Pursuant to 11 U.S.C. Sec. 557 Procedures and resistances thereto. Hearing was held on April 14, 2026. The hearing was held to determine whether and to what extent grain producers or merchants have rights under Sec. 557 to grain or grain proceeds held by the debtor. As part of the hearing, the claims of the North Dakota Producers were represented as settled and a number of other claims were disallowed for procedural reasons. This order addresses those disallowed, settled, and deferred claims along with the remaining claims, which are those of Texas Producers and the Mississippi Claimants. Section 557 of the Bankruptcy Code is designed to expeditiously determine the rights of various parties in grain and grain proceeds when an owner or operator of a grain storage facility files bankruptcy. In compliance with that section, the Court issued an order establishing procedures for interested parties to file specific claims regarding the debtor's grain and its proceeds. Those procedures in this case resulted in 89 grain claims, primarily from grain producers in several states who sold and delivered grain to Hansen-Mueller but did not receive payment. At the hearing, 62 of those claims were denied for procedural reasons. The three claims of the North Dakota Producers were settled, with the Court awaiting documentation. Bunge Canada's claim was deferred at the request of the debtor and Bunge. The remaining 23 claims were filed by entities referred to as the Texas Producers and the Mississippi Claimants. The Texas Producers contend they are protected by a state statutory lien intended to shield grain producers in just such a situation. They raise other arguments in support of their claims, including alternative perfection under Sec. 546(b), their lenders' priority security interests in the grain proceeds, and reclamation. Texas Producers The Texas Producers filed their grain claims on the basis of a Texas statute that grants to producers who sell crops to a contract purchaser or warehouse a super-priority lien in that crop or its proceeds. This lien attaches on delivery (or first date of a series of deliveries), Tex. Prop. CodeAnn. Sec. 70.403, and is perfected upon attachment. The Texas Producers argue that filing a financing statement under the U.C.C. was not the only way to perfect their liens when faced with an intervening bankruptcy petition. Rather, four of the Texas Producers filed Notices of Perfection of Agricultural Lien under Sec. 546(b)(1)(A) in this bankruptcy case. The Producers' position is the automatic stay went into effect during the 90-day period after their deliveries of grain to Hansen-Mueller, at a time when their statutory liens were automatically perfected, and Sec. 362(a)(4) and (5) prevented them from filing their financing statements. According to the Court, because the Texas Producers did not perfect their liens by timely filing financing statements in the appropriate jurisdiction, and because the notice they filed pursuant to Sec. 546(b) did not serve as an alternative form of perfection, there was no "conversion" when Hansen-Mueller sold the grain and its lenders applied the proceeds against Hansen-Mueller's outstanding debt. Section 546 of the Bankruptcy Code contains two subsections empowering sellers to seek reclamation from debtors. The general reclamation provision of Sec. 546(c) allows the seller to reclaim goods sold to the debtor in the ordinary course of the seller's business if the debtor received such goods while insolvent and within 45 days before the commencement of the debtor's bankruptcy case. Section 546(d) applies specifically to grain producers, allowing them to exercise any statutory or common-law right to reclaim grain if the debtor received the grain while insolvent. A reclamation demand under Sec. 546(d) must be made before 10 days after the debtor's receipt of the grain. Two of the Texas Producers are asserting their reclamation rights under 11 U.S.C. Sec. 546(c) and U.C.C. Sec. 2-702. They argue Sec. 546(d) is inapplicable because it governs only bailments, not sales. Hansen-Mueller argues Sec. 546(d) is the governing statute in this case, and the reclamation claims are untimely because they were not submitted within 10 days after the grain was delivered,. They Court says even if the reclamation claims are successful, the Producers' reclamation rights are subordinate to the prior rights of those who hold security interests in the proceeds. Several of the Texas Producers filed proofs of claim in the bankruptcy case on behalf of their secured operating lenders under 11 U.S.C. Sec. 501(b) and Federal Rule of Bankruptcy Procedure 3005(a). The Texas Producers assert priority based on their operating lenders' security interests in their crops and the proceeds thereof, which they argue are superior to BMO Bank's security interests in the debtor's assets. The debtor argues the Texas Producers lack standing to assert the security interests of third parties, and moreover, even if they do have standing, the third parties did not provide notice to the debtor as required under 7 U.S.C. Sec. 1631. The Texas Producers argue that BMO Bank's security interest in grain inventory and grain proceeds in Hansen-Mueller's possession is junior to the security interests held by the Producers' lenders in the Producers' crops and crop proceeds because the Producers' lenders recorded their financing statements earlier than BMO Bank did. The Court concludes even if the lenders' security interests extended to the proceeds when Hansen-Mueller liquidated the grain, the interests are unperfected unless the cash proceeds are identifiable or a financing statement has been filed to cover them. When the proceeds are held in a deposit account, a secured party with control of the account has priority over a conflicting security interest held by a secured party that does not have control of the account. In this case, BMO Bank and the debtor's other secured lenders control those deposit accounts and therefore have priority over the alleged security interests of the Producers' lenders. For these reasons, the Court holds the claims purportedly filed on behalf of the Texas Producers' secured operating lenders must be disallowed. Mississippi Claimants The Mississippi Claimants assert the issues of reclamation and equitable subordination to support their right to recover on their grain claims. The Mississippi Claimants assert reclamation rights to the grain based on Sec. 546(c) (although they also make arguments based on Sec. 546(d)) and state law, including Miss. Code Ann. Sec. 75-2- 702 (West). Although nothing in the record indicates any of the Mississippi Claimants made written demand on Hansen-Mueller for reclamation as required under Sec. 546(c) and (d), they assert state reclamation rights under Sec. 2-702(2) of the Uniform Commercial Code, which gives unpaid sellers additional remedies when the buyer is insolvent. The Court says even if the reclamation claims are successful, the Claimants' rights are subordinate to the prior rights of those who hold security interests in the proceeds. The Mississippi Claimants argue the Court must determine the relative priority of competing claims in the grain and the grain proceeds and can use its equitable jurisdiction to do so. Judge Saladin finds, "The Texas Producers' state statutory liens are unperfected and thus do not provide the Texas Producers with the level of priority they believe they are entitled to. Their liens are not perfected under Sec. 546(b). Their secured operating lenders do not have priority interests in proceeds. However, the Texas Producers may provide evidence to further develop their reclamation claims. The rest of their arguments do not support the relief they seek. Likewise, the Mississippi Claimants will also be given the opportunity to further develop their reclamation arguments, and to file an adversary proceeding on their equitable subordination claims, if warranted." A copy of the Court's Order dated May 4, 2026, is available at https://urlcurt.com/u?l=XaXQvc from PacerMonitor.com. About Hansen-Mueller Co. Hansen-Mueller Co. is a nationwide agribusiness company headquartered in Omaha, Nebraska, engaged in grain merchandising and processing with a diversified platform spanning the central United States, including nine grain elevators, four port terminals, and an oats processing facility producing pet food and animal feeds in Toledo, Ohio. The Company operates four complementary business units -- Oat Trading, Wheat Merchandising, Cross-Country Trading, and a Houston Joint Venture -- and maintains grain trading offices in multiple states, supported by a private railcar fleet and multi-modal transportation network for domestic and international flows. Founded in 1979, Hansen-Mueller employs approximately 120 people across its operations in the U.S. and conducts business in 44 states and 24 countries, focusing on niche crops, international trade, and vertically integrated processing. Hansen-Mueller Co. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Neb. Case No. 25-81226) on November 17, 2025. In its petition, the Debtor reported between $100 million and $500 million in assets and liabilities. Honorable Bankruptcy Judge Thomas L. Saladino handles the case. The Debtor tapped Brian J. Koenig, Esq., Donald L. Swanson, Esq., and Trevor J. Lee, Esq., at Koley Jessen PC, LLO as bankruptcy counsel; Silverman Consulting as restructuring advisor; Michael G. Compton as chief restructuring officer and financial advisor; and Ascendant Consulting Partners, LLC as investment banker. The Debtor's notice, claims and solicitation agent is Epiq Bankruptcy Solutions, LLC. HAPISGAH OF FLUSHING: Case Summary & 20 Top Unsecured Creditors --------------------------------------------------------------- Debtor: Hapisgah of Flushing Inc. 14725 Union Tpke Flushing, NY 11367-3717 Business Description: Hapisgah of Flushing Inc. operates a kosher full-service restaurant and catering business under the trade name Hapisgah. The company provides in-house dining and off-premises catering for life-cycle events and community functions in the kosher market. Founded as a New York corporation, the company has operated since approximately 2017 at 147-25 Union Turnpike in Flushing, New York. Chapter 11 Petition Date: May 4, 2026 Court: United States Bankruptcy Court Eastern District of New York Case No.: 26-42173 Judge: Hon. Elizabeth S. Stong Debtor's Counsel: Charles Wertman, Esq. LAW OFFICES OF CHARLES WERTMAN P.C. 100 Merrick Road Suite 304W Rockville Centre NY 11570-4807 Tel: (516) 284-0900 E-mail: charles@cwertmanlaw.com Estimated Assets: $100,000 to $500,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Moshe Lifshitz as president. A full-text copy of the petition, which includes a list of the Debtor's 20 largest unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/HWEOP3Y/Hapisgah_of_Flushing_Inc__nyebke-26-42173__0001.0.pdf?mcid=tGE4TAMA HEALTHCHANNELS: Oxford Square Marks $8.8MM 1L Loan at 60% Off ------------------------------------------------------------- Oxford Square Capital Corp. has marked its $8,833,722 loan extended to Healthchannels, Inc. (f/k/a ScribeAmerica, LLC) to market at $3,539,297 or 40% of the outstanding amount, according to Oxford Square's 10-Q for the period ended March 31, 2026, filed with the U.S. Securities and Exchange Commission on May 1, 2026. Oxford Square Capital Corp. is a participant in a first lien senior secured notes extended to Healthchannels, Inc. (f/k/a ScribeAmerica, LLC). The 1L Loan accrues interest at a rate of 10.25% (Prime + 3.50%) cash and 2.00% PIK per annum. The 1L Loan matures on Jan. 12, 2026. Oxford Square Capital Corp. is a closed-end, non-diversified management investment company that primarily invests in debt and income-producing securities. The Company is led by Jonathan H. Cohen as Chief Executive Officer (Principal Executive Officer) and Bruce L. Rubin as Chief Financial Officer (Principal Accounting Officer). The Company can be reached at: Jonathan H. Cohen Oxford Square Capital Corp. 8 Sound Shore Drive, Suite 255 Greenwich, CT 06830 Telephone: (203) 983-5275 About Healthchannels, Inc. (formerly ScribeAmerica, LLC) Healthchannels, Inc. (formerly ScribeAmerica, LLC) operates as a healthcare services company that provides medical scribe and clinical support staffing solutions to hospitals, clinics and physician practices. HERITAGE GROCERS: OFS Capital Marks $8.9M 1L Loan at 23% Off ------------------------------------------------------------ OFS Capital Corp has marked its $8,885,000 loan extended to Heritage Grocers Group, LLC. (F/K/A Tony's Fresh Market / Cardenas Markets) to market at $6,879,000 or 77% of the outstanding amount, according to OFS Capital’s 10-Q for the period ended March 31, 2026, filed with the U.S. Securities and Exchange Commission on May 1, 2026. OFS Capital Corp is a participant in a first lien debt extended to Heritage Grocers Group, LLC. (F/K/A Tony's Fresh Market / Cardenas Markets). The 1L Loan accrues interest at a rate of 10.55%, SOFR + 6.75% per annum. The 1L Loan matures on Aug. 1, 2029. OFS Capital Corp is a business development company that provides debt and equity financing solutions to middle-market companies in the United States. The Fund is led by Bilal Rashid as Chief Executive Officer and Kyle Spina as Chief Financial Officer. The Fund can be reached at: Bilal Rashid OFS Capital Corporation 222 W. Adams Street, Suite 1850 Chicago, IL 60606 Telephone: (847) 734-2000 About Heritage Grocers Group, LLC Heritage Grocers Group, LLC, formerly operating as Tony's Fresh Market and Cardenas Markets, runs supermarkets focused on grocery retailing, including fresh food and general household items. HONEY BRANDS: Ira Bodenstein Named Subchapter V Trustee ------------------------------------------------------- The U.S. Trustee for Region 11 appointed Ira Bodenstein as Subchapter V trustee for Honey Brands Inc. Mr. Bodenstein will be paid an hourly fee of $500 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Bodenstein declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. About Honey Brands Inc. Honey Brands Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-07105) on April 23, 2026, with $100,001 to $500,000 in assets and liabilities. Joel A. Schechter, Esq. at the Law Office Of Joel A. Schechter represents the Debtor as legal counsel. HRONIS INC: Conterra v. DLP Case Referred to Bankruptcy Court ------------------------------------------------------------- Magistrate Judge Christopher D. Baker of the U.S. District Court for the Eastern District of California granted the parties' stipulated request to refer the case captioned as CONTERRA AGRICULTURAL CAPITAL, LLC, Plaintiff, v. DLP FUNDING, LLC, Defendant, Case No. 1:26-cv-00122-CDB (E.D. Cal.) to the United States Bankruptcy Court for the Eastern District of California pursuant to 28 U.S.C. Sec. 157(a) and General Order No. 161. In their stipulation, the parties represent that the complaint generally asserts that Plaintiff provides a loan to Hronis, Inc. and certain affiliates (collectively, the "Borrowers") secured, in part, by first position liens against the Borrowers' accounts, and that Defendant, with knowledge of Plaintiff's lien, purchased the Borrowers' accounts and has taken actions to prevent Plaintiff from recovery on its collateral (the "Disputed Accounts"). The parties represent that on March 6, 2026, the Borrowers filed voluntary Chapter 11 bankruptcy petitions that were consolidated by the Bankruptcy Court in the lead case of In re Hronis, Inc., Case No. 1:26-bk-10978 (the "Bankruptcy Case"). According to the parties, on April 21, 2026, Defendant filed an adversary complaint in the Bankruptcy Case to determine interest in property of pre-petition accounts and related relief (the "Adversary Proceeding"), which names certain of the Borrowers as defendants and seeks a determination as to whether the Disputed Accounts constitute property of the estate. Plaintiff asserts that this action is "related" to the Bankruptcy Case within the definition of 28 U.S.C. Sec. 1334(b) because the outcome of this action could conceivably affect the Debtors' bankruptcy estate as it will determine whether the Disputed Accounts belong to Plaintiff, which will reduce the amount of Plaintiff's claim in the bankruptcy case. The parties note that federal law allows the Court to refer cases which are arising under title 11 or arising in or related to cases under title 11 to be heard by the Bankruptcy Court of this division, and that this Court has implemented section 157 through General Order No. 161, which provides that all cases under Title II, United States Code, and all proceedings arising under Title 11 or arising in or related to a case under Title 11 are referred to the bankruptcy judges of this district. Defendant does not contest that the Bankruptcy Court has jurisdiction over this matter. The parties therefore request the Court refer this case to the Bankruptcy Court pursuant to Sec. 157(a) and General Order No. 161 because Sec. 1334(b) bankruptcy-related jurisdiction exists. According to the District Court, this case is at least "related to" the Borrower's bankruptcy proceedings as demonstrated by the parties' stipulated representations that the outcome of this action could conceivably affect the Debtors' bankruptcy estate as it will determine whether the Disputed Accounts belong to Plaintiff, which will reduce the amount of Plaintiff's claim in the bankruptcy case. Because the Bankruptcy Court has at least "related to" jurisdiction over this action, referral would promote efficiency, and based on the parties' stipulated representations, the District Court will grant the parties' stipulated request, refer this action to the Bankruptcy Court, and terminate as moot Defendant's motion to dismiss due to the referral of the action to Bankruptcy Court. This action is stayed pending resolution of the bankruptcy proceedings or until further order of this Court. A copy of the Court's Order dated April 30, 2026, is available at https://urlcurt.com/u?l=kXLYHe from PacerMonitor.com. About Hronis Inc. Hronis, Inc. is an agricultural company based in Delano, California, that grows, harvests and markets table grapes in California's San Joaquin Valley, with operations dating to 1945. The business cultivates grapes on about 6,000 acres of owned and leased land in Kern and Tulare counties and produces more than 80 million pounds of table grapes annually, supplying major retailers, supermarket chains and other commercial customers through a vertically integrated operation that includes hand harvesting, packing, cold storage and distribution. The company also grows citrus and has begun planting pistachios, which are in early-stage development. The Debtors sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Cal. Lead Case 26-10978) on March 6, 2026, with between $50 million and $100 million in both assets and liabilities. Judge Rene Lastreto II oversees the cases. The Debtors tapped Zev M. Schectman, Esq., and Steven F. Werth, Esq., Mariam Khoudari, Esq., at Saul Ewing, LLP as bankruptcy counsel and Donlin, Recano and Co. as claims and noticing agent. HUBBARD CONCRETE: Commences Chapter 11 Bankruptcy in Florida ------------------------------------------------------------ On May 1, 2026, Hubbard Concrete PT, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Middle District of Florida. According to court filings, the Debtor reports between $1 million and $10 million in debt owed to between 1 and 49 creditors. A meeting of creditors under Section 341(a) to be held on June 1, 2026 at 03:00 PM. U.S. Trustee (Orl) will hold the meeting telephonically. Call in Number: 888-330-1716. Passcode: 5814238#. About Hubbard Concrete PT, LLC Hubbard Concrete PT, LLC is a construction-related company specializing in concrete services, including production, supply, and installation for residential, commercial, and infrastructure projects. Hubbard Concrete PT, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-03216) on May 1, 2026. In its petition, the Debtor reports estimated assets between $100,001 and $1,000,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge Tiffany P. Geyer handles the case. The Debtor is represented by Kathleen DiSanto, Esq. of Bush Ross, P.A. HVI CAT: UBS, et al. Adversary Case Remanded to Superior Court -------------------------------------------------------------- Judge Martin R. Barash of the U.S. Bankruptcy Court for the Central District of California remanded the adversary proceeding captioned as GLR LLC, a Delaware limited liability company; GRL LLC, a Delaware limited liability company; and RANDEEP S. GREWAL, an individual, Plaintiffs, vs. UBS AG, a Swiss Corporation; and Does 1-10, inclusive, Defendant, Adv. Proc. No. 9:25-ap-01038-MB (Bankr. C.D. Cal.) to the Superior Court for the State of California pursuant to 28 U.S.C. Sec. 1452(b). On October 8, 2025, Defendant UBS AG filed its Notice of Removal to Bankruptcy Court, removing a civil action from the Superior Court for the State of California and resulting in the opening of this adversary proceeding. Plaintiffs initiated the civil action to enforce certain contracts between the parties, i.e., a certain Waiver, Release and Discharge Agreement dated May 20, 2016, and a certain Release Agreement of the same date. The disputes allegedly trace their origin to a certain Volumetric Production Payment Agreement entered into in 2007, to which Defendant, HVI Cat Canyon, Inc. (the "Debtor") and a third-party entity, Rincon Island Limited Partnership, are parties. The Waiver Agreements allegedly were entered into in connection with a restructuring of the VPP in 2016. On October 9, 2025, the Court entered its Notice of Status Conference and Order to Show Cause re: Remand in a Removed Proceeding. On November 7, 2025, Plaintiffs GLR LLC, GRL LLC, and Randeep S. Grewal filed their motion to remand the civil action to the Superior Court. This is the second time the civil action has been removed to this Court. Defendant originally removed the civil action on June 20, 2024. Following remand, Plaintiffs amended their original complaint in the civil action ("Original Complaint") by filing their Amended Complaint for (1) breach of contract; and (2) money had and received ("Amended Complaint"). On December 10, 2020, the Court entered an order approving a stipulation between McConnell, UBS AG, London Branch and UBS AG, Stamford Branch which, among other things, created a litigation fund (the "Litigation Fund") for "prosecuting litigation claims against insiders." The Litigation Fund was to be created with proceeds from the sale of certain estate assets and an additional contribution from these UBS entities. On July 23, 2021, Michael McConnell, the chapter 7 trustee, commenced an adversary proceeding against Grewal, GLR, GRL and various other defendants (the "Trustee Litigation"). The complaint in the Trustee Litigation asserts a variety of causes of action, including breach of fiduciary duty, aiding and abetting breach of fiduciary duty, avoidance and recovery of fraudulent transfers, aiding and abetting fraudulent transfers, avoidance and recovery of preferential transfers, negligence, breach of contract, unjust enrichment, declaratory relief and equitable relief. The Trustee Litigation remains pending. On May 3, 2022, Mr. McConnell filed a motion requesting approval of additional litigation financing of $1.5 million, plus subsequent advances up to $4 million, from UBS AG Stamford Branch (the "Litigation Financing"). On June 17, 2022, the Court entered its order approving the Litigation Financing. The Original Complaint contained five causes of action. Four sought contractual damages and the fifth sought related declaratory relief. The gravamen of these claims was that Defendant breached the Waiver Agreements by creating the Litigation Fund, providing the Litigation Financing, enabling the Trustee to prosecute the Trustee Litigation, withholding its consent to a settlement that might have resolved certain claims against Plaintiffs, and obtaining a share of the potential proceeds from the Trustee Litigation. The Amended Complaint eliminates all but the first cause of action under the Original Complaint and adds a new one. The first cause of action under the Amended Complaint ("First Cause of Action") alleges Defendant breached the Waiver Agreement for all the reasons alleged in the Original Complaint (i.e., relating to the Litigation Fund, Litigation Financing, and Trustee Litigation). The second and new cause of action under the Amended Complaint ("Second Cause of Action") alleges a common count for "money had and received" based on a certain subordination agreement ("Subordination Agreement") entered into by GLR and Defendant in 2016, in connection with Waiver Agreements and related transactions. Pursuant to the Subordination Agreement, GLR agreed to subordinate its pre-existing lien in assets of the Debtor to a $100 million senior secured lien of Defendant. More specifically, the Second Cause of Action alleges that GLR executed the Subordination Agreement in reasonable reliance on the promises made by Defendant under the Waiver Agreement not to pursue or participate in litigation against Plaintiffs with respect to the claims released under that agreement. The Second Cause of Action seeks recovery from Defendant for the funds it received from the Debtor's bankruptcy estate following the sale of substantially all of the Debtor's assets. The Second Cause of Action contends the distribution of sale proceeds to Defendant unjustly enriched Defendant at the expense of GLR. On this basis, Plaintiffs seek the imposition of a constructive trust on the funds received by Defendant and payment of those amounts to GLR. Defendant contends that Plaintiffs' amendments fundamentally altered the civil action in such a way as to justify removal a second time. Based on these amendments, Defendant believes that there is an even stronger case for this Court to retain and adjudicate the civil action. Plaintiffs disagree. The Bankruptcy Court rejects Defendant's suggestion that the First Cause of Action in the Amended Complaint is materially different than the first cause of action alleged in the Original Complaint. The relevant question is whether the Amended Complaint contains any claim that was first asserted in the Original Complaint and therefore subject to a removal deadline that has since expired. The Court concludes the First Cause of Action is just such a claim. The Bankruptcy Court reaches the same conclusion as it did previously: the civil action is most appropriately adjudicated in the Superior Court and should be remanded on equitable grounds. The OSC is discharged. This Order is stayed through and including the 15th day following the date of its entry. A copy of the Court's Order dated April 30, 2026, is available at https://urlcurt.com/u?l=e3MSuU from PacerMonitor.com. About HVI Cat Canyon Inc. HVI Cat Canyon, Inc., was a privately held oil and gas extraction company based in New York. HVI Cat Canyon sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 19-12417) on July 25, 2019. In the petition signed by Alex G. Dimitrijevic, president and COO, the Debtor was estimated to have assets of between $100 million and $500 million and liabilities of the same range. On Aug. 28, 2019, the New York Court entered an order transferring the venue to U.S. Bankruptcy Court for the Northern District of Texas, and assigned Case No. 19-32857. Weltman & Moskowitz, LLP, ws the Debtor's bankruptcy counsel. The Office of the U.S. Trustee on Aug. 9, 2019, appointed three creditors to serve on the official committee of unsecured creditors in the Debtor's case. The case was converted to Chapter 7 on Dec. 17, 2020. The U.S. Trustee appointed Michael A. McConnell as chapter 7 trustee. IDERA INC: OFS Capital Marks $2.683MM 2L Loan at 24% Off -------------------------------------------------------- OFS Capital Corp has marked its $2,683,000 loan extended to Idera Inc. to market at $2,031,000 or 75.7% of the outstanding amount, according to OFS Capital's 10-Q for the fiscal year ended March 31, 2026, filed with the U.S. Securities and Exchange Commission. OFS Capital Corp is a participant in a second lien debt extended to Idera Inc. The 2L Loan accrues interest at a rate of 10.56% SOFR+6.75% per annum. The 2L Loan matures on March 2, 2029. OFS Capital Corp is a business development company that provides debt and equity financing solutions to middle-market companies in the United States. The Fund is led by Bilal Rashid as Chief Executive Officer and Kyle Spina as Chief Financial Officer. The Fund can be reached at: Bilal Rashid OFS Capital Corporation 222 W. Adams Street, Suite 1850 Chicago, IL 60606 Telephone: (847) 734-2000 About Idera Inc. Idera Inc. is a computer and computer peripheral equipment and software merchant wholesaler. IMPAC MORTGAGE: Unsecureds Will Get 24.36% to 100% in Plan ---------------------------------------------------------- Impac Mortgage Holdings, Inc., and affiliates filed with the U.S. Bankruptcy Court for the District of Delaware a Disclosure Statement describing Joint Prepackaged Plan of Reorganization dated April 27, 2026. Impac was formed in 1995 as a real estate investment trust ("REIT") and also became a publicly traded company that same year. As a result of the subprime real estate crisis that began in 2007, Impac revoked its REIT status and began operating as a nationwide independent residential mortgage lender that originated, sold, and serviced residential mortgage loans. Since 1995, the Debtors have been a nationwide residential mortgage business headquartered in Irvine, California. Over the last four years, the Debtors' primary focus has been their mortgage broker business and winding down some of their business channels to address historical challenges that were exacerbated by the COVID-19 pandemic and related market turmoil in 2020, followed by inflationary pressures and rising interest rates in 2021 and 2022. Most recently, the Debtors entered into a secondment relationship with a technology firm to develop and enhance mortgage loan origination software/applications that can be utilized to improve the efficiency of their loan originations and/or be licensed to other loan origination companies. With these enhancements, the Debtors intend to continue their mortgage brokerage business (the "Business Plan"). The Debtors filed these Chapter 11 Cases to implement the terms of the Restructuring Support Agreement, dated April 22, 2026 (the "RSA") which will substantially deleverage the Debtors’ balance sheet, mitigate or eliminate continued losses arising from accruing debt service and allow the Debtors to continue to pursue their mortgage brokerage business supported by recent innovations in artificial intelligence applications. The RSA was the subject of extensive, good-faith, arm's-length negotiations among (i) the Debtors, (ii) Hildene re SPC, Ltd. ("Hildene"), acting for and on behalf of the account of SP 1 (together with any of its successors or assigns, or any designee thereof, the "Plan Sponsor"), and in its capacity as lender under the DIP Facility (the "DIP Lender"), and (iii) Taberna Preferred Funding 1 LTD and Taberna Preferred Funding 2 LTD, as beneficial holders of the Subordinated Notes. The Plan and the RSA effectuate a restructuring of the Debtors, pursuant to which: (a) the Plan Sponsor, as the holder of the Senior Indebtedness Claims (estimated as of the Petition Date at approximately $24,000,000 of principal and interest), will convert its debt under the Senior Loan Agreement into 100% of the Plan Sponsor Common Stock of the Reorganized Debtors; (b) the DIP Lender will provide necessary funding for the administration of these Chapter 11 Cases and the Debtors' emergence from bankruptcy through a DIP Facility and an Exit Loan Facility; (c) Holders of Subordinated Notes Claims (estimated as of the Petition Date at approximately $77,000,000 of principal and interest) will receive their pro rata share of a newly issued Contingent Payment Certificate; and (d) Holders of Allowed General Unsecured Claims will receive their Pro Rata share of the GUC Consideration, consisting of $300,000 less any administrative expenses of any committee of unsecured creditors appointed in the Chapter 11 Cases or the Plan Administrator contemplated by the Plan, which is to be funded from the Exit Loan Facility. Consistent with the Plan and the RSA, the DIP Lender has agreed to provide the Exit Loan Facility, which shall be used, among other ways, to fund: (i) the GUC Consideration; (ii) all transactions necessary to implement the Plan, including, but not limited to, (a) payment of all Allowed Claims that are to be satisfied in cash under the Plan (other than General Unsecured Claims), (b) payment of Administrative Claims to be paid on the Effective Date, including certain Contractual Incentive Payments, (c) payments to be made under those certain Key Executive Employment Agreements; and (iii) the working capital needs of the Reorganized Debtors. Class 5 General Unsecured Claims, estimated to total approx. $222,000 to $1,200,000. Each Holder of an Allowed General Unsecured Claim shall receive on account of, in full and complete satisfaction, release and discharge of, and in exchange for its Allowed General Unsecured Claim, a Pro Rata share of the GUC Consideration after payment in full of all GUC Expenses. The allowed unsecured claims total 24.36% to 100%. This Class is impaired. All Interests in Impac will be cancelled, released, and extinguished, and will be of no further force or effect, and the Holders of Interests in Impac will receive no distribution on account of such Interests. On the Effective Date, Interests in the Debtor Subsidiaries shall be Reinstated without any distribution. As part of this analysis, the Debtors, with the assistance of their advisors, have prepared the Financial Projections through the fourth quarter of 2028, which, together with the assumptions on which they are based. In preparing such analysis and concluding that the Plan is feasible, the Debtors are relying upon the availability of the Exit Loan Facility to fund all transactions necessary to implement the Plan, for the occurrence of the Effective Date, and all post-Effective Date transactions. Additionally, the Financial Projections show an estimate of the potential distributions to the Subordinated Notes Claims on account of the Contingent Payment Certificate. Based on such Financial Projections, the Debtors believe that they will be able to make all payments required under the Plan while conducting ongoing business operations. Therefore, consummation of the Plan is not likely to be followed by liquidation or the need for further reorganization. A full-text copy of the Disclosure Statement dated April 27, 2026 is available at https://urlcurt.com/u?l=i270D5 from PacerMonitor.com at no charge. About Impac Mortgage Holdings Impac Mortgage Holdings, Inc., is a financial services company primarily engaged in mortgage lending, servicing, and related real estate activities in the United States. Impac Mortgage Holdings, Inc. and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 26-10593) on April 26, 2026. In its petition, Impac listed assets and liabilities each ranging from $10 million to $50 million. The Debtors tapped DENTONS US LLP as general bankruptcy counsel, PACHULSKI STANG ZIEHL & JONES LLP as local counsel, and DEVELOPMENT SPECIALIST, INC., as financial advisor. KURTZMAN CARSON CONSULTANTS, LLC, doing business as VERITA GLOBAL, is the claims agent. INTERACTIVE GOVERNMENT: Hires Frost & Associates as Legal Counsel ----------------------------------------------------------------- Interactive Government Holdings Inc. seeks approval from the U.S. Bankruptcy Court for the District of Columbia to hire Frost & Associates, LLC as bankruptcy counsel. The firm will render these services: a. prepare bankruptcy petitions, schedules, and financial statements for filing; b. provide the Debtor with legal advice with respect to their powers and duties pursuant to the Bankruptcy Code; c. prepare on behalf of the Debtor all necessary applications, answers, orders, reports, and other legal papers; d. assist in analyses and representation with respect to lawsuits to which the Debtor is or may be a party; e. negotiate, prepare, file, and seek approval of a plan of reorganization; f. represent the Debtor at all hearings, meetings of creditors, and other proceedings; and g. perform all other legal services for the Debtor which may be necessary to serve the best interests of the Debtor and their bankruptcy estate in this proceeding. The Debtor paid Frost an advance retainer of $50,000. As disclosed in the court filings, Frost & Associates neither represents nor holds any interest adverse to the Debtor or their estate, and is a disinterested party, as that term is defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Daniel A. Staeven, Esq. Frost & Associates, LLC 400 E Pratt St, 8th Floor Baltimore, MD 21202 Phone: (443) 743-3381 Email: daniel.staeven@askfrost.com About Interactive Government Holdings Inc. Interactive Government Holdings Inc. provides program, acquisition, and administrative management services, as well as secure IT, systems engineering and integration, and global operations and sustainment support. The company was established in 2006 and is headquartered in Springfield, Virginia. It holds ISO 9001:2015 certification and is classified under NAICS code 541611, with socioeconomic designations including 8(a), SDVOSB, VOSB, SDB, Hispanic American Owned, and Minority Owned. Its prime contract vehicles include GSA 8(a) STARS III, GSA Multiple Award Schedule - 00Corp, and SeaPort-NxG. Interactive Government Holdings Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Col. Case No. 26-00214) on April 24, 2026, listing $293,133 in assets and $2,844,120 in liabilities. The petition was signed by Michael V. Sanders as chief executive officer. Judge Elizabeth L. Gunn presides over the case. Daniel Staeven, Esq. at FROST LAW serves as the Debtor's counsel. INTERACTIVE GOVERNMENT: Seeks $2.5MM DIP Loan from Action Capital ----------------------------------------------------------------- Interactive Government Holdings, Inc. asks the U.S. Bankruptcy Court for the District of Columbia for authority to obtain postpetition financing to address an immediate liquidity crisis and sustain ongoing operations. Upon the Chapter 11 filing, the Debtor lost access to its existing line of credit, leaving it with only about $171,959 in cash--far short of its approximately $750,000 in monthly operating expenses. The Debtor warns that without immediate financing, it will be unable to meet payroll or pay essential business expenses, which would force a shutdown and cause severe and irreversible harm, including loss of employees, customers, and enterprise value. To prevent this outcome, the Debtor seeks authorization to enter into a DIP financing arrangement with Action Capital Corporation for up to $2.5 million. The proposed financing is structured as a receivables-based facility, where advances are made against the company's accounts receivable, and carries interest rates tied to the prime rate plus small additional percentages, along with modest monthly fees. The Debtor requests both interim (emergency) and final approval of this financing, emphasizing the urgent need for immediate access to funds to stabilize operations. The proceeds would be used strictly for working capital and ordinary business expenses such as payroll, rent, utilities, insurance, and vendor payments. As part of the arrangement, the DIP lender would receive a first-priority security interest in the Debtor's accounts receivable and related assets, along with a personal guaranty from a principal of the company. Parabilis and Itria Ventures hold prepetition liens on the Debtor's assets. Because the DIP financing would prime or overlap with these liens, the Debtor proposes to provide adequate protection to preserve their interests, primarily through monthly payments based on the value of their collateral. However, due to overlapping collateral claims, only Parabilis would receive such payments, while Itria is effectively left unsecured in practical terms. The DIP lender's claims and liens will be subject to certain administrative expenses, including court fees and professional costs, ensuring compliance with bankruptcy priority rules. A copy of the motion is available at https://urlcurt.com/u?l=QUlPDE from PacerMonitor.com. About Interactive Government Holdings, Inc. Interactive Government Holdings, Inc. provides program, acquisition, and administrative management services, as well as secure IT, systems engineering and integration, and global operations and sustainment support. The company was established in 2006 and is headquartered in Springfield, Virginia. It holds ISO 9001:2015 certification and is classified under NAICS code 541611, with socioeconomic designations including 8(a), SDVOSB, VOSB, SDB, Hispanic American Owned, and Minority Owned. Its prime contract vehicles include GSA 8(a) STARS III, GSA Multiple Award Schedule - 00Corp, and SeaPort-NxG. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.C. Case No. 26-00214) on April 24, 2026. In the petition signed by Michael V. Sanders, chief executive officer, the Debtor disclosed $293,133 in total assets and $2,844,120 in total liabilities. Judge Elizabeth L. Gunn oversees the case. Daniel Staeven, Esq., at FROST LAW, represents the Debtor as legal counsel. INTERNATIONAL UNION: Wins Chapter 11 OK to Continue Florida Appeal ------------------------------------------------------------------ Vince Sullivan of Law360 Bankruptcy Authority reports that the International Union of Police Associations AFL-CIO won bankruptcy court approval Wednesday, May 6, 2026, to pursue a Florida appeal despite the automatic stay imposed by its Chapter 11 filing. The motion sought limited relief to continue challenging an unfavorable ruling issued before the bankruptcy case began. The union told the court that advancing the appeal was necessary to protect its interests and potentially reduce liabilities tied to the dispute. It also argued that the litigation would not materially hinder the ongoing restructuring process. The judge authorized the requested stay modification, allowing the appellate proceedings to move forward concurrently with the Chapter 11 case, the report. About the International Union of Police Associations The International Union of Police Associations (IUPA) AFL-CIO is a labor organization representing law enforcement officers, corrections personnel, and emergency service workers across North America. Affiliated with the AFL-CIO, it is the only union within the federation focused exclusively on law enforcement professionals. International Union of Police Associations sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-03159) on April 16, 2026. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. The Debtor is represented by Kathleen DiSanto Bush Ross, P.A. JOHN FITZGIBBON: U.S. Trustee Appoints Scott Pummell as PCO ----------------------------------------------------------- Jerry L. Jensen, the Acting U.S. Trustee for Region 13, appointed Scott A. Pummell, Esq. at Lashly & Baer, P.C. as patient care ombudsman for John Fitzgibbon Memorial Hospital, Inc. and Fitzgibbon Health Services. Mr. Pummell disclosed in a court filing that he is a "disinterested person" pursuant to Section 101(14) of the Bankruptcy Code. To the best of the United States Trustee's knowledge and based on the verified statement he has provided, Mr. Pummell has no connections with John Fitzgibbon Memorial Hospital, Inc. and Fitzgibbon Health, creditors and other parties-in-interest in the bankruptcy case. The ombudsman may be reached at: Scott A. Pummell, Esq. Lashly & Baer, P.C. 714 Locust Street St. Louis, Missouri 63101 (314) 436-8369 Email: spummell@lashlybaer.com About John Fitzgibbon Memorial Hospital, Inc. John Fitzgibbon Memorial Hospital, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Mo. Case No. 26-40689) on April 21, 2026. In the petition signed by Angela P. Littrell, president and chief executive officer, the Debtor disclosed up to $50 million in both assets and liabilities. Judge Cynthia A. Norton oversees the case. Zachary R.G. Fairlie, Esq., at Spencer Fane, represents the Debtor as legal counsel. JP INTERMEDIATE: OFS Capital Marks $1.5MM 1L Loan at 34% Off ------------------------------------------------------------ OFS Capital Corp has marked its $1,499,000 loan extended to JP Intermediate B, LLC to market at $982,000 or 66% of the outstanding amount, according to OFS Capital's 10-Q for the fiscal year ended March 31, 2026, filed with the U.S. Securities and Exchange Commission. OFS Capital Corp is a participant in a first lien debt extended to JP Intermediate B, LLC. The 1L Loan accrues interest at a rate of 5.20% cash / 4.00% PIK SOFR+5.50% per annum. The 1L Loan matures on March 31, 2031. OFS Capital Corp is a business development company that provides debt and equity financing solutions to middle-market companies in the United States. The Fund is led by Bilal Rashid as Chief Executive Officer and Kyle Spina as Chief Financial Officer. The Fund can be reached at: Bilal Rashid OFS Capital Corporation 222 W. Adams Street, Suite 1850 Chicago, IL 60606 Telephone: (847) 734-2000 About JP Intermediate B, LLC JP Intermediate B, LLC is a drugs and druggists' sundries merchant wholesaler. KARROW WHITEFISH: Creditors to Get Proceeds From Liquidation ------------------------------------------------------------ Karrow Whitefish Investment, LLC filed with the U.S. Bankruptcy Court for the District of Montana a Disclosure Statement describing Plan of Reorganization dated April 27, 2026. The Debtor's business is to develop real property and sell or lease the same. The Debtor was organized in October 2021; the Debtor purchased its real property on October 28, 2021. The cause of this bankruptcy was Tom Vukota's, the owner of the Debtor, financial difficulties resulting from the Karrow development and other developments he was pursuing. This difficulty resulted in the default of the Debtor's loan from Stockman Bank and the Bank's ultimate commencement of a deed of trust trustee's sale. The bankruptcy was filed in order to arrange an orderly liquidation of the Debtor's real property. The proposed Plan of Reorganization is based upon the sale of the Debtor's real property and development entitlements. The legal descriptions of the Debtor's real property are: (i) Certificate of Survey 9540, Tract 4BA, City of Whitefish, Flathead County, Montana 59937 (10 Karrow Avenue), and (ii) Certificate of Survey 9540, Tracts 4G, 4F, and 4C City of Whitefish, Flathead County, Montana 59937 (95 Karrow Avenue). Tract 4BA contains 3.49 acres and Tracts 4G, 4F, and 4C contain 10.59 acres. The Debtor received a purchase offer during the pendency of this case for all of the Debtor's real property in Whitefish for the sum of $20,750.00. The offeror is UP White Fish Yards, LLC, an unsecured creditor in this chapter 11 case. The Debtor's plan proposes that the Bankruptcy Court authorize the acceptance of this offer and upon closing all creditors' allowed claims will be paid in full except in the event the sale proceeds are insufficient to pay UP White Fish Yards LLC in full, it will receive whatever funds remain after paying all other allowed claims in full; in the event UP Whitefish Yards, LLC does not close its purchase by the Plan's deadline of 90 days or a 30 day extension allowed in order to rezone the Karrow real property following the Plan's Effective Date, the Debtor's real property will be sold by an auction that must occur no later than 210 days following the Plan's Effective Date. The Plan of Reorganization provides for the division of all claims and interests into five classes. Class I of the Plan is the secured claim of Flathead County for unpaid real property taxes; Class II is the secured claim of Stockman Bank; Class III is the secured claims of Dragonfly Capital LLC and KCM Enterprises, Inc.; Class IV is the unsecured claim of UP White Fish Yards. LLC; and Class V is the unsecured claim of TD&H Engineering. Generally, the Plan of Reorganization will pay the secured claims of the Class I, II and III creditors and the unsecured claims of the Class IV and V creditors from the liquidation of the real property; the payment to the secured creditors, Classes I, II, and III, will be paid by the closing agent closing of the sale of the Debtor's real property. The feasibility of the Debtor's Plan of Reorganization is based upon its liquidation of its sole asset, 95 Karrow Ave and 10 Karrow Ave. through the sale to UP White Fish Yards LLC as proposed by UP White Fish Yards. The classes of creditors are proposed to be paid as follows: all classes of creditors will be paid from the liquidation of the Debtor's real property interests; the creditors will be paid in the order of their lien priorities and, for Class IV, after all other allowed secured and unsecured claims are paid. A full-text copy of the Disclosure Statement dated April 27, 2026 is available at https://urlcurt.com/u?l=UjOxf5 from PacerMonitor.com at no charge. Counsel to the Debtor: James A. Patten, Esq. Molly S. Considine, Esq. PATTEN, PETERMAN, BEKKEDAHL & GREEN, PLLC 2817 2nd Avenue North, Ste. 300 P.O. Box 1239 Billings, MT 59103 Telephone: (406) 252-8500 Facsimile: (406) 294-9500 Email: apatten@ppbglaw.com mconsidine@ppbglaw.com About Karrow Whitefish Investment Karrow Whitefish Investment, LLC, a single asset real estate company, sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-90021) on Jan. 27, 2026. In its petition, the Debtor reports estimated assets ranging from $10 million to $50 million and estimated liabilities in the same range. Bankruptcy Judge Benjamin P. Hursh handles the case. The Debtor is represented by James A. Patten, Esq., of Patten Peterman Bekkedahl Green PLLC. KC HOMES: Seeks to Hire Russo White & Keller PC as Attorney ----------------------------------------------------------- KC Homes and Investments, LLC seek approval from the U.S. Bankruptcy Court for the Northern District of Alabama to hire Russo, White & Keller, P.C. as attorneys. The firm's services include: (a) provide the Debtor legal advice with respect to its powers and duties in the continued management of its financial affairs and property; (b) prepare on behalf of the Debtor necessary legal papers as is or may become necessary; (c) review all leases and other corporate papers and other documents and prepare any necessary motions to assume unexpired leases or executory contracts and assist in preparation of corporate authorizations and resolutions regarding the Chapter 11 case; and (d) perform any and all other legal services for the Debtor as may be necessary to achieve confirmation of a Chapter 11 plan. Robert Keller, Esq., the primary attorney in this representation, will be billed at his hourly rate of $350, plus reimbursement. The firm requested a total retainer of $15,000 from the Debtor. Mr. Keller disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Robert C. Keller, Esq. Russo, White & Keller, PC 315 Gadsden Highway, Suite D Birmingham, AL 35235 Telephone: (205) 833-2589 Email: rjlawoff@bellsouth.net About KC Homes and Investments, LLC KC Homes and Investments, LLC is an Alabama real estate company that owns and leases residential and land properties in Birmingham, Montgomery and Prattville. The company holds fee-simple interests in a portfolio of properties with an aggregate value of about $3.42 million. KC Homes and Investments, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ala. Case No. 26-01498) on April 28, 2026, listing $3,581,500 in assets and $3,745,500 in liabilities. The petition was signed by Chance Wheeler as manager. Judge Tamara O Mitchell presides over the case. Robert C. Keller, Esq. at RUSSO, WHITE & KELLER, P.C. serves as the Debtor's counsel. KELLERMEYER BERGENSONS: Ares Marks $16.2M 1L Loan at 95% Off ------------------------------------------------------------ Ares Capital Corp. has marked its $16.2 million loan extended to Kellermeyer Bergensons Services, LLC and KBS TopCo, LLC to market at $800,000 or 5% of the outstanding amount, according to Ares Capital's 10-Q for the fiscal year ended March 31, 2026, filed with the U.S. Securities and Exchange Commission. Ares Capital Corp. is a participant in a first lien senior secured loan extended to Kellermeyer Bergensons Services, LLC and KBS TopCo, LLC. The 1L Loan is on non-accrual status. The 1L Loan matures in November 2028. Ares Capital Corporation is a business development company that provides financing solutions to middle-market companies across a range of industries. The Company is led by M. Kort Schnabel as Chief Executive Officer and Scott C. Lem as Chief Financial Officer and Treasurer. The Company can be reached at: M. Kort Schnabel Ares Capital Corporation 245 Park Avenue, 44th Floor New York, NY 10167 Telephone: (212) 750-7300 About Kellermeyer Bergensons Services, LLC and KBS TopCo, LLC Kellermeyer Bergensons Services, LLC and KBS TopCo, LLC provide janitorial and facilities management services to commercial customers. KID CITY USA: Seeks to Extend Plan Exclusivity to Sept. 1 --------------------------------------------------------- Kid City USA Enterprises, Inc. asked the U.S. Bankruptcy Court for the Middle District of Florida to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to Sept. 1 and Nov. 2, 2026, respectively. The Debtor submits that cause exists for the extension requested in the instant Motion. More specifically: * This case involves a larger than average amount of creditors and interested parties. The Debtor's schedules reflect that there are more than one hundred creditors and interested parties. * The Debtor is generally paying its post-petition debts as they come due. * The Debtor is in compliance with all of the operating guidelines of the United States Trustee. * Counsel for the Debtor has communicated with franchisees and creditors in preliminary efforts to ascertain the direction of this case and which executory contracts and/or unexpired leases the Debtor will attempt to assume. * The Debtor seeks this additional extension of exclusivity in good faith, and not for the purpose of pressuring or otherwise attempting to prejudice the rights of any creditors. * The Debtor needs more time to negotiate with creditors, evaluate the claims as filed, and evaluate its claims against third parties to be able to prepare a correct and confirmable Chapter 11 Plan. * The Debtor submits that no creditor or party in interest will be prejudiced by granting the relief requested herein. Kid City USA Enterprises Inc. is represented by: Robert C. Bruner, Esq. Byron Wright III, Esq. Samantha A. Kelley, Esq. Bruner Wright, PA 2868 Remington Green Circle, Suite B Tallahassee, FL 32308 Telephone: (850) 385-0342 Facsimile: (850) 270-2441 Email: twright@brunerwright.com About Kid City USA Enterprises Kid City USA Enterprises, Inc., sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-00004) on Jan. 2, 2026, listing between $1 million and $10 million in both assets and liabilities. Audrey Bruner, president of Kid City USA Enterprises, signed the petition. Judge Jason A. Burgess oversees the case. The Debtor tapped Robert C. Bruner, Esq., at Bruner Wright, PA, as bankruptcy counsel, and Samuel Grier Wells, Esq., at GrayRobinson, PA, as special counsel. KIITOS BREWING: Seeks to Hire Diaz & Larsen as Bankruptcy Counsel ----------------------------------------------------------------- Kiitos Brewing, LLC seeks approval from the U.S. Bankruptcy Court for the District of Utah to hire Diaz & Larsen as counsel. The firm's services include: (a) advise the Debtor of its rights, powers, and duties; (b) take all necessary action to protect and preserve the estate of the Debtor; (c) assist in preparing on behalf of the Debtor all necessary legal papers in connection with the administration of its estate; (d) assist in presenting the Debtor's proposed plan of reorganization and all related transactions and any related revisions, amendments, etc.; and (e) perform all other necessary legal services in connection with this Chapter 11 case. The firm received a retainer of $42,000 from the Debtor. Andres Diaz, an attorney at Diaz & Larsen, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Andres Diaz, Esq. Diaz & Larsen 757 East South Temple, Suite 201 Salt Lake City, UT 84102 Telephone: (801) 596-1661 Facsimile: (801) 359-6803 Email: courtmail@adexpresslaw.com About Kiitos Brewing, LLC Kiitos Brewing operates a brewery, tavern, and can shop in Salt Lake City, Utah. The company produces beer and offers draft beer service, canned beer to-go, and warehouse seating on select evenings. Its beer offerings include year-round styles such as blonde ale, pale ale, amber ale, stout, cream ale, sour, pilsner, and IPA varieties. Kiitos Brewing also uses a High Efficiency Brewing System and a three-step wastewater system in its brewing operations. Kiitos Brewing, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Utah Case No. 26-22348) on April 24, 2026, listing $1,152,316 in assets and $1,344,940 in liabilities. The petition was signed by Andrew Dasenbrock as managing member. Judge Michael F Thomson presides over the case. Andres Diaz, Esq. at DIAZ & LARSEN serves as the Debtor's counsel. KOINONIA CONSTRUCTION: To Sell Nevada Properties to Multiple Buyers ------------------------------------------------------------------- Koinonia Construction Inc. dba Impact Roofing seeks permission from the U.S. Bankruptcy Court for the District of Nevada, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor is in the business of developing, constructing and selling residential homes in Elko, Nevada. The Debtor currently has six residential homes under construction and/or near completion, including but not limited to three residential homes that are completed and ready to sell in the next nine days. With respect to the three residential homes that the Debtor has completed and needs to close escrow in the next nine days, the Debtor has received certain purchase offers to acquire and sell the three residential homes and is in need to close same timely. a) The Debtor has made the decision to sell its improved real property located at 2427 N. 5th Street, Elko, Nevada 89801,(Property #1), for the purchase price of $347,000.00, pursuant to a Residential Purchase Agreement to Buyer Galia Meiri (Buyer #1); b) The Debtor has made the decision to sell its improved real property located at 2511 N. 5th Street, Elko, Nevada 89801, (Property #2), for the purchase price of $340,000.00, pursuant to a Residential Purchase Agreement with Counteroffer #1 and Counteroffer #2, to Buyer Luna Estela Caballero (Buyer #2); and c) The Debtor has made the decision to sell its improved real property located at 2519 N. 5th Street, Elko, Nevada 89801, (Property #3), for the purchase price of $340,000.00, pursuant to a Residential Purchase Agreement and Counteroffer to Buyer Feras Elias (Buyer #3). Debtor also seeks authorization to pay sales commissions directly from escrow upon closing to its sales broker, LPT Realty. The Debtor is also requesting no overbidding for the sales of Property #1, Property #2 and Property #3, given the fact that these proposed sales are made in the ordinary course of Debtor's business of developing, constructing and selling residential homes in the City of Elko, State of Nevada, and are market tested over time. The Debtor seeks findings that the proposed Buyer #1, Buyer #2 and Buyer #3, or each of their assignees, is a good faith purchaser entitled to the safe harbor protections. The Debtor is a construction company in Elko, Nevada, primarily developing, constructing and selling residential homes. On each of the properties, specifically, Property #1, Property #2 and Property #3, Debtor borrowed monies to construct the residential real property improvements, and those construction loans are mentioned before, and Debtor seeks authorization from the Court to pay loans secured by Deeds of Trust. The term of the Listing Agreement is through February 6, 2027, for Property #1, February 6, 2027, for Property #2 and March 22, 2027 for Property #3, and provides for a listing broker's commission of 3% of the gross selling price, unless there is a cooperating broker, in which case, the commission is increased by an additional 3% and customarily paid by the Seller. Debtor believes the sale of each of the Property #1, Property #2 and Property #3, is in the best interest of the estate because these sales have been market tested from several years of developing, constructing and selling residential homes in the Elko, Nevada urban area. Debtor is not aware of any defaults of the Listing Agreement and the Agreements that require curing. The Agreements were negotiated at arm's length, in good faith, and Debtor believes the terms are fair and reasonable after customary marketing and exposure to a broad base of potential buyers. About Koinonia Construction Inc. Koinonia Construction Inc., doing business as Impact Roofing, is an Elko, Nevada-based construction and development company that builds homes, manages housing projects, and provides roofing services under its Impact Roofing brand. Since its founding, the firm has overseen multi-phase residential developments such as Mountain View and Copper Trails, while maintaining a fleet of trucks, telehandlers, backhoes, and other heavy equipment to support its on-site construction work. Beyond construction, Koinonia manages a portfolio of townhouses and land parcels on North 5th Street and Platinum Drive, reflecting its integrated approach to development, building, and property management. Koinonia Construction sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Nev. Case No.: 26-50335) on April 3, 2026. In the petition that was signed by Luke Fitzgerald as president, the Debtor disclosed total assets of $5,475,376 and total liabilities of $6,771,688. Debtor's Counsel: Stephen R. Harris, Esq., at HARRIS LAW PRACTICE LLC, in Reno, Nevada. KOMAX LLC: Case Summary & 20 Largest Unsecured Creditors -------------------------------------------------------- Debtor: Komax, LLC d/b/a Komax Business Systems 500 D Street South Charleston, WV 25303 Business Description: Komax, LLC, DBA Komax Business Systems, provides office technology, printing, finishing, communication, and document-related systems and services. The company offers copier and MFP systems, production and wide format print systems, managed print services, document management, document conversion, phone systems, mailing systems, EV charging systems, water coolers, touch panels, and desktop scanners. Founded in 1999, KOMAX Business Systems is based in South Charleston, West Virginia, and serves businesses and organizations across Southern West Virginia, Eastern Kentucky, Southern Ohio, and Western Virginia. Chapter 11 Petition Date: May 4, 2026 Court: United States Bankruptcy Court Southern District of West Virginia Case No.: 26-20106 Debtor's Counsel: Brandy M. Rapp, Esq. WHITEFORD, TAYLOR & PRESTON LLP 10 S. Jefferson Street Suite 1110 Roanoke, VA 24011 Tel: (540) 749-3577 E-mail: brapp@whitefordlaw.com Debtor's Financial Advisor: MERIDIAN MANAGEMENT PARTNERS, LLC Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million Robert B. Maxwell, Jr. signed the petition as sole member and manager. 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/BIKRIIY/Komax_LLC__wvsbke-26-20106__0001.0.pdf?mcid=tGE4TAMA KRAKEN OIL: S&P Rates Proposed $400MM Senior Unsecured Notes 'B+' ----------------------------------------------------------------- S&P Global Ratings assigned its 'B+' issue-level rating and '2' recovery rating to U.S.-based oil and gas exploration and production company Kraken Oil & Gas Partners LLC's proposed $400 million senior unsecured notes due in 2031. The '2' recovery rating indicates its expectation for substantial (70%-90%; rounded estimate: 75%) recovery in the event of a payment default. The proposed notes will have similar terms to the company's existing 7.625% senior notes due in 2029, of which about $500 million is outstanding. Kraken intends to use the proceeds primarily to repay a portion of the outstanding borrowings under its bank credit facility (approximately $801 million outstanding after the close of an acquisition) and general corporate purposes. Issue Ratings--Recovery Analysis Key analytical factors -- S&P's simulated default scenario for Kraken assumes sustained low commodity prices, consistent with the conditions of past defaults in this sector. -- S&P assumes the company's $1.4 billion revolving reserve-based lending facility maturing in 2028 is fully drawn at default. -- S&P bases its valuation of Kraken on a company-provided PV-10 report using our recovery price deck assumption of $50 per barrel for West Texas Intermediate crude oil and $2.50 per million Btu for Henry Hub natural gas. Simulated default assumptions -- Simulated year of default: 2029 Simplified waterfall -- Net estimated valuation (after 5% administrative costs): $2.17 billion -- First-lien debt: $1.45 billion --Recovery expectations: Not applicable -- Total value available for unsecured claims: $720 million -- Senior unsecured debt: $933 million --Recovery expectations: 70%-90% (rounded estimate: 75%) All debt amounts include six months of prepetition interest. LABORATORIES BIDCO: Ares Capital Marks $15.6M 1L Loan at 23% Off ---------------------------------------------------------------- Ares Capital Corp. has marked its $15.6 million loan extended to Laboratories Bidco LLC and Laboratories Topco LLC to market at $12 million or 77% of the outstanding amount, according to Ares Capital's 10-Q for the fiscal year ended March 31, 2026, filed with the U.S. Securities and Exchange Commission. Ares Capital Corp. is a participant in a first lien senior secured revolving loan extended to Laboratories Bidco LLC and Laboratories Topco LLC. The 1L Loan accrues interest at a rate of 5.60 % SOFR (Q) 1.75 % per annum. The 1L Loan matures in July 2029. Ares Capital Corporation is a business development company that provides financing solutions to middle-market companies across a range of industries. The Company is led by M. Kort Schnabel as Chief Executive Officer and Scott C. Lem as Chief Financial Officer and Treasurer. The Company can be reached at: M. Kort Schnabel Ares Capital Corporation 245 Park Avenue, 44th Floor New York, NY 10167 Telephone: (212) 750-7300 About First lien senior secured revolving loan Laboratories Bidco LLC and Laboratories Topco LLC provide lab testing services focused on nicotine-containing products. LABORATORIES BIDCO: Ares Capital Marks $17.6M 1L Loan at 23% Off ---------------------------------------------------------------- Ares Capital Corp. has marked its $17.6 million loan extended to Laboratories Bidco LLC and Laboratories Topco LLC to market at $13.6 million or 77% of the outstanding amount, according to Ares Capital's 10-Q for the fiscal year ended March 31, 2026, filed with the U.S. Securities and Exchange Commission. Ares Capital Corp. is a participant in a first lien senior secured loan extended to Laboratories Bidco LLC and Laboratories Topco LLC. The 1L Loan accrues interest at a rate of 5.60 % SOFR (Q) 1.75 % per annum. The 1L Loan matures in July 2029. Ares Capital Corporation is a business development company that provides financing solutions to middle-market companies across a range of industries. The Company is led by M. Kort Schnabel as Chief Executive Officer and Scott C. Lem as Chief Financial Officer and Treasurer. The Company can be reached at: M. Kort Schnabel Ares Capital Corporation 245 Park Avenue, 44th Floor New York, NY 10167 Telephone: (212) 750-7300 About Laboratories Bidco LLC and Laboratories Topco LLC Laboratories Bidco LLC and Laboratories Topco LLC provide lab testing services focused on nicotine-containing products. LABORATORIES BIDCO: Ares Capital Marks $24.2M 1L Loan at 23% Off ---------------------------------------------------------------- Ares Capital Corp. has marked its $24.2 million loan extended to Laboratories Bidco LLC and Laboratories Topco LLC to market at $18.7 million or 77% of the outstanding amount, according to Ares Capital’s 10-Q for the fiscal year ended March 31, 2026, filed with the U.S. Securities and Exchange Commission. Ares Capital Corp. is a participant in a first lien senior secured loan extended to Laboratories Bidco LLC and Laboratories Topco LLC. The 1L Loan accrues interest at a rate of 4.08 % CORRA (Q) 1.75 % per annum. The 1L Loan matures in July 2029. Ares Capital Corporation is a business development company that provides financing solutions to middle-market companies across a range of industries. The Company is led by M. Kort Schnabel as Chief Executive Officer and Scott C. Lem as Chief Financial Officer and Treasurer. The Company can be reached at: M. Kort Schnabel Ares Capital Corporation 245 Park Avenue, 44th Floor New York, NY 10167 Telephone: (212) 750-7300 About Laboratories Bidco LLC and Laboratories Topco LLC Laboratories Bidco LLC and Laboratories Topco LLC provide lab testing services focused on nicotine-containing products. LABORATORIES BIDCO: Ares Capital Marks $4.6M 1L Loan at 22% Off --------------------------------------------------------------- Ares Capital Corp. has marked its $4.6 million loan extended to Laboratories Bidco LLC and Laboratories Topco LLC to market at $3.6 million or 78% of the outstanding amount, according to Ares Capital's 10-Q for the fiscal year ended March 31, 2026, filed with the U.S. Securities and Exchange Commission. Ares Capital Corp. is a participant in a first lien senior secured revolving loan extended to Laboratories Bidco LLC and Laboratories Topco LLC. The 1L Loan accrues interest at a rate of 7.50 % Base Rate (Q) 0.75 % per annum. The 1L Loan matures in July 2029. Ares Capital Corporation is a business development company that provides financing solutions to middle-market companies across a range of industries. The Company is led by M. Kort Schnabel as Chief Executive Officer and Scott C. Lem as Chief Financial Officer and Treasurer. The Company can be reached at: M. Kort Schnabel Ares Capital Corporation 245 Park Avenue, 44th Floor New York, NY 10167 Telephone: (212) 750-7300 About Laboratories Bidco LLC and Laboratories Topco LLC Laboratories Bidco LLC and Laboratories Topco LLC provide lab testing services focused on nicotine-containing products. LABORATORIES BIDCO: Ares Capital Marks $4.7M 1L Loan at 23% Off --------------------------------------------------------------- Ares Capital Corp. has marked its $4.7 million loan extended to Laboratories Bidco LLC and Laboratories Topco LLC to market at $3.6 million or 77% of the outstanding amount, according to Ares Capital's 10-Q for the fiscal year ended March 31, 2026, filed with the U.S. Securities and Exchange Commission. Ares Capital Corp. is a participant in a first lien senior secured loan extended to Laboratories Bidco LLC and Laboratories Topco LLC. The 1L Loan accrues interest at a rate of 5.60 % SOFR (Q) 1.75 % per annum. The 1L Loan matures in July 2029. Ares Capital Corporation is a business development company that provides financing solutions to middle-market companies across a range of industries. The Company is led by M. Kort Schnabel as Chief Executive Officer and Scott C. Lem as Chief Financial Officer and Treasurer. The Company can be reached at: M. Kort Schnabel Ares Capital Corporation 245 Park Avenue, 44th Floor New York, NY 10167 Telephone: (212) 750-7300 About Laboratories Bidco LLC and Laboratories Topco LLC Laboratories Bidco LLC and Laboratories Topco LLC provide lab testing services focused on nicotine-containing products. LAVIE CARE: No Complaints at NC Facilities, 9th PCO Report Says --------------------------------------------------------------- Renee Kea, the Interim State Long-Term Care Ombudsman, filed his ninth report regarding the quality of patient care provided at the North Carolina nursing facilities operated by LaVie Care Centers, LLC's affiliates. Visits were conducted by the regional long-term care ombudsmen who report programmatically to the State Long-Term Care Ombudsman (SLTCO) who is housed within the NC Division of Aging. All the facilities are skilled nursing facilities. Regional ombudsmen conducted visits to the 16 facilities between Nov. 13, 2025 and April 1, 2026. There was no evidence of staffing shortage. Residents that met with the ombudsmen did not indicate any issues that adversely impacted quality of care. Staffing was adequate. During their visit, ombudsmen toured the facilities so they could observe the environment, meet and greet residents, staff, families (if available), review Survey Reports, and make general observations. Ombudsman observations and meetings with residents and family members revealed satisfaction with care and cleanliness. Regional ombudsmen will continue to visit and meet with residents to ensure that they are receiving the highest quality of care and that the bankruptcy reorganization does not have any adverse impact on their quality of care. The ombudsman noted that the patients, families, and staff were satisfied with the quality of care provided. They did not express any concerns that the bankruptcy was adversely impacting the quality of care provided to the residents in the 16 facilities. A copy of the ombudsman report is available for free at https://urlcurt.com/u?l=Fuy358 from Kurtzman Carson Consultants, LLC, claims agent. About Lavie Care Centers LaVie Care Centers, LLC is the parent company of skilled nursing facility operators and providers, with facilities primarily located in Mississippi, North Carolina, Pennsylvania and Virginia. The company operates 43 licensed facilities, with 4,300 beds, providing short-term rehabilitation, comprehensive post-acute care, and long-term care to its residents. On June 2 and 3, 2024, LaVie Care Centers and 281 affiliates filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ga. Lead Case No. 24-55507), before Judge Paul Baisier in Atlanta. The Debtors tapped McDermott Will & Emery, LLP as legal counsel; Stout Capital, LLC as investment banker; and Ankura Consulting as financial advisor. M. Benjamin Jones, senior managing director at Ankura, serves as the Debtors' chief restructuring officer. Kurtzman Carson Consultants, LLC is the claims agent, and maintains the page http://www.kccllc.com/LaVie The U.S. Trustee for Region 21 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The U.S. Trustee also appointed Joani Latimer as patient care ombudsman for patients at the Debtors' Virginia facilities; Victor Orija for North Carolina facilities; Lisa Smith for the Mississippi facilities; Margaret Barajas for the Pennsylvania facilities; and Terri Cantrell for the Florida facility. LEVEL 3 FINANCING: S&P Rates New Senior Secured Term Loan 'B+' -------------------------------------------------------------- S&P Global Ratings assigned its 'B+' issue-level rating and '1' recovery rating to Level 3 Financing Inc.'s repriced first-lien senior secured term loan and its 'B-' issue-level rating and '4' recovery rating to the company's proposed $1 billion senior unsecured notes due in 2037. S&P said, "The '1' recovery rating on the term loan indicates our expectation for very high (90%-100%; rounded estimate: 95%) recovery in the event of a payment default. The '4' recovery rating on the new unsecured notes indicates our expectation for average (30%-50%; rounded estimate: 45%) recovery." Level 3, a wholly owned subsidiary of U.S.-based telecommunications service provider Lumen Technologies Inc., will use a portion of the proceeds from the unsecured notes to redeem portions of various outstanding unsecured notes totaling about $750 million. S&P said, "We view the refinancing as credit positive for Lumen because it will push out some debt maturities to 2037 from 2028-2031. We expect cash flow to benefit from the repriced term loan." S&P said, "All our existing ratings on Lumen, including the 'B-' issuer credit rating, are unchanged because we do not expect the transaction to affect its credit metrics. 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." LISA SHAMBRO: Court Upholds Dismissal of Greenfence, et al., Case ----------------------------------------------------------------- Judge Michael E. Romero of the U.S. Bankruptcy Court for the District of Colorado denied the the motion for relief from judgment filed by Greenfence, LLC and IBMS, LLC, for itself and derivatively on behalf of Fourteener, LLC (the "Plaintiffs"), in the adversary proceeding captioned as Greenfence, LLC, IBMS, LLC, and Fourteener, LLC, Plaintiffs, v. Lisa Shambro, Defendant, Adversary No. 23-01160 MER (Bankr. D. Col.) Plaintiffs commenced this adversary proceeding against Shambro on June 26, 2023. Shambro filed her answer and counterclaims against Plaintiffs on September 27, 2023. Because Plaintiffs are all corporations and therefore cannot represent themselves, the Court entered an order on June 3, 2025, directing Plaintiffs to retain new counsel by July 18, 2025 ("Order to Retain"). The Court advised Plaintiffs that failure to retain new counsel would result in dismissal of the proceeding without further notice. Plaintiffs failed to retain counsel by the July 18th deadline. On July 28, 2025, Shambro filed a motion for summary judgment ("Summary Judgment Motion"), to which Plaintiffs did not respond. The Court warned Plaintiffs that failure to show cause by September 23, 2025, would result in dismissal of Plaintiffs' complaint and the striking of Plaintiffs' answer to Shambro's counterclaims. Plaintiffs failed to show cause by the September 23rd deadline. Instead, acting pro se, Plaintiffs filed a late response on October 6, 2025. In the response, Plaintiffs asserted that they were in the process of retaining counsel and that they had failed to comply with the Court's orders and meet deadlines because the primary employee overseeing the proceeding had recently moved overseas. On October 14, 2025, Shambro filed a motion to strike Plaintiffs' response, asserting that it was untimely and not filed through counsel. A few days later, the Court entered an order denying Plaintiffs' request for extensions of time, dismissing Plaintiffs' complaint, and striking Plaintiffs' answer to Shambro's counterclaims ("Dismissal Order"). Plaintiffs filed the instant Motion on March 2, 2026, arguing that the Court should either revise the Dismissal Order pursuant to Fed. R. Civ. P. 54(b) (incorporated by Fed. R. Bankr. P. 7054) or vacate the Dismissal Order under Fed. R. Civ. P. 60(b) (incorporated by Fed. R. Bankr. P. 9024) because they did not receive any of the Court's orders, including the Order to Retain, after their counsel withdrew. Plaintiffs attribute the lack of notice to their mailing addresses either being incorrect or incomplete. Shambro disagrees and argues that consideration under Rule 60(b) is improper because the Dismissal Order is not final. Instead, Shambro asserts any reconsideration of the Dismissal Order should be considered under Rule 55(c) (incorporated by Fed. R. Bankr. P. 7055), which deals with setting aside defaults. Given that Plaintiffs were made aware of the addresses provided to the Court and that they were responsible for keeping the Court informed if the addresses were incorrect, the Court concludes that Plaintiffs have not met their burden to show that the Dismissal Order should be revised or vacated on this ground. Plaintiffs also assert their failure to retain new counsel should be excused because they did not timely receive the Order to Retain, and because their previous counsel did not properly inform them that they cannot represent themselves since they are corporations. Plaintiffs were made aware they needed to retain counsel before the Court ever issued its Order to Retain. Plaintiffs were also on notice that failure to retain counsel could result in the very consequences they are now subject to. Given these facts, the Court says this argument does not suffice as a proper ground for vacating or revising the Dismissal Order. Shambro contends she suffered substantial prejudice when Plaintiffs' failed to comply with Court orders by having to litigate and incur substantial attorney fees to defend a proceeding that Plaintiffs consistently ignored. Plaintiffs disagree and instead argue that the parties have litigated this dispute for years and have both incurred substantial attorney fees. Plaintiffs also assert that if the Dismissal Order is not vacated, they will lose their claims and defenses without adjudication on the merits, despite not receiving any filings after their counsel withdrew due to the incorrect mailing addresses. The Court agrees Plaintiffs' actions prejudiced Shambro by causing delays and mounting attorney's fees. While the Court agrees that Shambro should have attempted to mail a copy of the Summary Judgment Motion to Plaintiffs, any argument related to the motion is irrelevant. Although the Court did not explicitly state in the Dismissal Order that the Summary Judgment Motion is moot, the Court's dismissal of Plaintiffs' Complaint and its order that Shambro file a motion for default judgment on her counterclaims implied that the Motion is moot. Further, the Summary Judgment Motion remains moot because the Court finds no cause to revise or vacate the Dismissal Order. On or before May 13, 2026, Shambro must file a motion for entry of clerk's default pursuant to Fed. R. Civ. P. 55(a) and L.B.R. 7055-1(a). Failure to file a motion for entry of clerk's default may result in the Court denying the Motion for Default Judgment without further notice to Shambro. A copy of the Court's Order dated April 30, 2026, is available at https://urlcurt.com/u?l=O9DMYo from PacerMonitor.com. Lisa M. Shambro filed for Chapter 11 bankruptcy protection (Bankr. D. Colo. Case No. 23-10824) on March 7, 2023, listing under $1 million in both assets and liabilities. The Debtor is represented by David Wadsworth, Esq. LUMMUS TECHNOLOGY: S&P Assigns 'B+' ICR, Outlook Negative --------------------------------------------------------- S&P Global Ratings assigned its 'B+' issuer credit rating to Lummus Technology Holdings I LLC. S&P said, "At the same time, we affirmed our 'B+' issuer credit ratings on Lummus Technology Holdings III and Lummus Technology Holdings V, 'B+' issue-level rating on the company's secured debt (recovery rating of '3'), and 'B-' issue-level rating on the company's unsecured notes (recovery rating of '6'). "We believe the risk of petrochemical project delays and deferrals as a result of the current war in the Middle East will offset strong backlog growth and bookings in 2025, and the potential for repair and remediation contract wins." The negative outlook on all entities reflects the risk that Lummus could face project deferrals, delays, or (although less likely) cancellations in the Middle East due to the war, which could reduce EBITDA and cash flow generation over the next 12 months. Lummus Technology Holdings I LLC is now the ultimate parent of the Lummus group and the issuer of financials. Lummus has highly profitable technology licensing, catalyst (formulations), and proprietary equipment businesses. Its technology licensing contracts provide capital-light pull-through opportunities for the future sale of catalysts (formulations) and proprietary equipment, creating longer-term and recurring revenue streams. Lummus derives about one-third of revenue directly from the licensing of existing intellectual property and proprietary process technologies, which give customers the right to build, expand, and operate facilities. As a project progresses and a plant becomes operational, Lummus generates additional revenue from the sale of proprietary equipment (about 40% of revenue) and first-fill catalysts, which often must be purchased from Lummus under the initial licensing agreement. Proprietary formulations make up about 30% of overall revenue. Lummus does not have its own manufacturing operations, which reduces the need for capital expenditure (capex is only about 1%-2% of sales) and supports strong free cash flow conversion. Instead, Lummus provides catalyst formulations and proprietary equipment designs to third-party partners, which then manufacture catalysts and equipment on its behalf. After plant startup, Lummus realizes revenue throughout a plant's life cycle via catalyst refills, the sale of spare parts, and engineering services. This is particularly relevant given current petrochemical industry overcapacity, as Lummus can use its expertise to assist in modernizing and repurposing existing facilities in North America and Europe to partially offset a potential drag from a slower pace of new builds. Lummus must continue to book new licensing contracts and awards to replace existing projects as they roll off. A material portion of Lummus' revenue is recurring (about 40%), and it generally receives cash in advance of services and products rendered. However, the necessity of booking new projects can lead to cyclicality in free cash flow, particularly during periods of muted capital spending by global petrochemical producers, in which existing projects are completed (and Lummus consumes cash) while new project final investment decisions are deferred (resulting in lower upfront cash payments to Lummus). Offsetting the risk of a slowdown in capital spending is the company's breadth of technologies, which it has expanded via bolt-on acquisitions over the past few years; its exposure to the less-correlated refining end market; and its geographic diversification. In any given year, Lummus generates earnings from numerous projects globally, limiting the impact of potential regional downturns or declining investment due to weaker demand or overcapacity in certain products. Recently, about 25% of its bookings have come from technologies either developed or acquired over the past few years. Petrochemical industry volatility could weigh on Lummus' cash flows. Although bookings exceeded expectations in 2025 and Lummus ended the year with record-high backlog of $3.2 billion, the company remains exposed to slowing petrochemical capacity growth, as well as the cancellation or postponement of projects due to geopolitical disruptions. However, the company should benefit from repair and remediation work at facilities damaged as part of the current conflict. Thus far, during the current industry downturn, Lummus' operating performance and contract wins have held up better than anticipated. The company has experienced minimal project deferment or cancellation, with annual bookings around $1.1 billion-$1.4 billion and a book to bill ratio greater than 1x in each of the last three years. Additionally, EBITDA increased about 40% over this same period due to both organic growth and the consolidation of Chevron Lummus Global (CLG). S&P expects petrochemical overcapacity to persist beyond 2026, assuming a relatively prompt end to the current conflict in the Persian Gulf, minimal damage to chemical and refining assets in the region, and an eventual return to status quo trade patterns. While global petrochemical margins have improved in recent months due to the war, about 30% of Lummus' revenue comes from the Middle East, where timelines for large petrochemical projects are in jeopardy. Additionally, the inability of certain Asian jurisdictions to secure feedstock risks delay and cancellation of projects outside the region. Lummus derives about 40% of revenue from Asia. A potential slowdown in new bookings could threaten free cash flow generation, as Lummus generally receives cash in advance of revenue recognition. During periods when existing projects are completed and costs incurred, Lummus consumes cash. In addition, when new project investment decisions are deferred, lower upfront cash payments reduce overall free cash flow. Sales of equipment for which revenue recognition is not spread across multiple years can cause revenue lumpiness, which S&P considers a credit weakness. Deferments or cancellations of such sales, while rare, have a disproportionately negative impact on revenue, as some contracts are valued at more than $100 million. Over the past year, overcapacity, historically low utilization, and trough margins led to the deferral of several high-profile projects across the petrochemical industry (not necessarily involving Lummus). Further retrenchment in capital spending by customers could make it more difficult for Lummus to replace existing backlog. Additionally, any closure of existing capacity to help improve the significantly oversupplied petrochemicals market, could impact some of Lummus' recurring revenues. Aggressive financial policies and high cash interest are key financial risks. S&P said, "We anticipate debt to EBITDA will deteriorate slightly in 2026 but remain near 6x, while free cash flow will remain positive. We forecast a moderate year-over-year decline in EBITDA due to the deferral of large projects in the Middle East, partially offset by incremental contract wins related to facility repairs. Lummus ended 2025 with S&P Global Ratings-adjusted debt to EBITDA of about 6x and funds from operations (FFO) to debt around 8%. This includes a little less than one turn of leverage from tax receivable agreement obligations, which we add to adjusted debt in our calculations." Leverage remains high due to Lummus' aggressive financial policies. After paying out a distribution in first-quarter 2025, Lummus has now distributed a cumulative $490 million to financial sponsor owners since 2021, while gross debt has increased by over $200 million. However, S&P does not assume any further dividend distributions in 2026. S&P said, "The negative outlook reflects our assumption that strong bookings and a record backlog will only partially offset weaker petrochemical capex and delayed customer investment decisions in 2026. We expect EBITDA will decline moderately year over year as Lummus faces project delays in the Middle East related to the war. We also anticipate free cash flow will remain positive despite a drag from working capital and slower new bookings. "We believe Lummus will direct free cash flow first toward bolt-on acquisitions, including technologies complementary to its licensing portfolio, as it has over the past few years. We forecast Lummus will end 2026 with excess cash due to its minimal ongoing capex requirements, although we do not net cash against debt in our leverage calculations or assume debt repayment given the company's financial sponsor ownership and past dividend distributions. "Our negative outlook also assumes Lummus continues to win at least its market share of licensing revenue from announced projects across its key technologies. In our base case, we expect FFO to total debt will be about 8%-10% and debt to EBITDA will remain around 6x-7x over the next 12 months." S&P could lower its ratings on Lummus within the next year if: -- S&P Global Ratings-adjusted FFO to total debt drops below 6% on a weighted-average basis; or -- Debt to EBITDA deteriorates to above 8x on a weighted-average basis. This would most likely occur if petrochemical demand remains weak or geopolitical disruptions increase industry uncertainty, curtailing customer capex and delaying existing projects, and resulting in a revenue decline of 15%, along with slightly weaker margins. In this scenario, S&P would expect a free cash flow deficit, with cash requirements for existing projects exceeding cash payments on new awards. In addition, S&P could consider a negative rating action if Lummus faces liquidity issues such that it anticipates sources of liquidity would drop below 1.2x uses. S&P could revise its outlook to stable over the next 12 months if Lummus sustains: -- A capital structure such that weighted-average FFO to total debt approaches about 10%; and -- Debt to EBITDA of about 6x. An outlook revision could occur if geopolitical uncertainty improved, if project deferrals on the scale currently contemplated did not materialize, or if remediation and repair work at existing facilities exceeds our current expectations, resulting in higher than forecast EBITDA and positive free cash flow. For an eventual upgrade, Lummus would most likely need to use free cash flow or initial public offering proceeds for debt repayment. To consider any positive rating action, S&P would also need confidence that management and ownership are committed to maintaining a capital structure that could sustain these ratios. An important aspect of any review for an upgrade would be a track record of improving earnings, sustained positive free cash flow, and more conservative financial policies. MAGENTA BUYER: Oxford Square Marks $1.3M 1L Loan at 59% Off ----------------------------------------------------------- Oxford Square Capital Corp. has marked its $1,310,350 loan extended to Magenta Buyer, LLC (f/k/a McAfee Enterprise, LLC) to market at $537,244 or 41% of the outstanding amount, according to Oxford Square's 10-Q for the period ended March 31, 2026, filed with the U.S. Securities and Exchange Commission on May 1, 2026. Oxford Square Capital Corp. is a participant in a firstr lien second out senior secured notes extended to Magenta Buyer, LLC (f/k/a McAfee Enterprise, LLC). The 1L Loan accrues interest at a rate of 10.93 % (SOFR + 7.00 %) (0.75 % floor) per annum. The 1L Loan matures on July 27, 2028. Oxford Square Capital Corp. is a closed-end, non-diversified management investment company that primarily invests in debt and income-producing securities. The Fund is led by Jonathan H. Cohen as Chief Executive Officer (Principal Executive Officer) and Bruce L. Rubin as Chief Financial Officer (Principal Accounting Officer). The Fund can be reached at: Jonathan H. Cohen Oxford Square Capital Corp. 8 Sound Shore Drive, Suite 255 Greenwich, CT 06830 Telephone: (203) 983-5275 About Magenta Buyer, LLC (f/k/a McAfee Enterprise, LLC) Magenta Buyer, LLC (f/k/a McAfee Enterprise, LLC) is a cybersecurity business that delivers enterprise security software and services to corporate and government clients. MAGENTA BUYER: Oxford Square Marks $10.3M 1L Loan at 78% Off ------------------------------------------------------------ Oxford Square Capital Corp. has marked its $10,340,152 loan extended to Magenta Buyer, LLC (f/k/a McAfee Enterprise, LLC) to market at $2,223,133 or 22% of the outstanding amount, according to Oxford Square's 10-Q for the period ended March 31, 2026, filed with the U.S. Securities and Exchange Commission on May 1, 2026. Oxford Square Capital Corp. is a participant in a first lien third out senior secured notes extended to Magenta Buyer, LLC (f/k/a McAfee Enterprise, LLC). The 1L Loan accrues interest at a rate of 10.18 % (SOFR + 6.25 %) (0.75 % floor) per annum. The 1L Loan matures on July 27, 2028. Oxford Square Capital Corp. is a closed-end, non-diversified management investment company that primarily invests in debt and income-producing securities. The Fund is led by Jonathan H. Cohen as Chief Executive Officer (Principal Executive Officer) and Bruce L. Rubin as Chief Financial Officer (Principal Accounting Officer). The Fund can be reached at: Jonathan H. Cohen Oxford Square Capital Corp. 8 Sound Shore Drive, Suite 255 Greenwich, CT 06830 Telephone: (203) 983-5275 About Magenta Buyer, LLC (f/k/a McAfee Enterprise, LLC) Magenta Buyer, LLC (f/k/a McAfee Enterprise, LLC) is an enterprise-focused cybersecurity company that provides threat detection, data protection and related security solutions to large organizations. MAPLE BEAR: Aaron Cohen Named Subchapter V Trustee -------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Aaron Cohen, Esq., a practicing attorney in Jacksonville, Fla., as Subchapter V trustee for Maple Bear St Johns Early Learning Center, LLC. Mr. Cohen will be paid an hourly fee of $325 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Cohen declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Aaron R. Cohen, Esq. P.O. Box 4218 Jacksonville, FL 32201 Tel: (904) 389-7277 Email: aaron@arcohenlaw.com About Maple Bear St Johns Early Learning Center Maple Bear St Johns Early Learning Center, LLC is an early learning center in St. Johns, Florida, that operates under a franchise agreement with Maple Bear USA. The center provides early education programs, including preschool instruction and infant care through Bear Care. Its curriculum includes bilingual instruction for young children. Maple Bear St Johns Early Learning Center sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-01769) on April 22, 2026, listing up to $50,000 in assets and between $1 million and $10 million in liabilities. Judge Jacob A. Brown oversees the case. The Law Offices of Mickler & Mickler, LLP serves as the Debtor's bankruptcy counsel. MATE LLC: Angela Shortall Named Subchapter V Trustee ---------------------------------------------------- The Acting U.S. Trustee for Region 4 appointed Angela Shortall of 3Cubed Advisory Services, LLC as Subchapter V trustee for Mate LLC. Ms. Shortall will be paid an hourly fee of $525 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Shortall declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Angela L. Shortall 3Cubed Advisory Services, LLC 111 S. Calvert St., Suite 1400 Baltimore, MD 21202 Phone: 410-783-6385 About Mate LLC Mate LLC, doing business as Susheria, operates a fusion-cuisine restaurant in Washington, D.C., offering sushi, specialty rolls, ceviche, sashimi, small plates and other Japanese- and Latin-inspired dishes. Based in Georgetown, the restaurant provides dine-in service, online ordering, reservations, catering and private-event hosting for individual and group customers. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.D.C. Case No. 26-00213) on April 24, 2026, with $321,348 in assets and $1,874,370 in liabilities. Alfredo Mauricio Fraga, managing member, signed the petition. Alan D. Eisler, Esq. at EISLER HAMILTON, LLC represents the Debtor as legal counsel. MAVIS TIRE: Fitch Assigns 'B-' LongTerm IDR, Outlook Stable ----------------------------------------------------------- Fitch Ratings has assigned a first-time Long-Term Issuer Default Rating (IDR) of 'B-' to Mavis Tire Express Services TopCo, Corp. and Metis HoldCo, Inc. (collectively Mavis). Fitch has also rated Mavis' revolver and first lien term loans 'B' with a Recovery Rating of 'RR3' and its senior unsecured notes 'CCC'/'RR6'. The loans include a new $775 million secured term loan, with proceeds earmarked to redeem preferred equity. The Rating Outlook is Stable. The ratings reflect Mavis's position as a leading tire and automotive services retailer in the U.S. non-discretionary market, with 18+ years of positive same-store sales (SSS) growth. Revenue rose to $4.6 billion in 2026 from $2.7 billion in 2022, driven by acquisitions and organic growth. These strengths are balanced against high-6x EBITDAR leverage in 2026 and negative FCF from rapid store expansion. Fitch expects EBITDAR fixed charge coverage to remain in the mid-to-high 1x range through 2029. Key Rating Drivers Aggressive Growth Strategy: Fitch expects Mavis to continue expanding via greenfield, brownfield, and large-scale M&A to deepen density. Management is targeting over 120 new stores in 2026, accelerating to over 160 annually in 2027-2030 toward its long-term goal of 10,000+ locations. Since the 2021 leveraged buyout, Mavis has grown to 3,619 from 1,190 locations, primarily through acquisitions including TBC (595 stores in 2023) and Midas (2025). EBITDA has more than tripled to $633 million. The Midas acquisition added about 1,200 franchise locations and an asset-light franchise royalty revenue stream; 111 were converted to company-operated stores. The growth strategy is capital intensive, resulting in negative FCF (after growth capex) during the near to intermediate term, and new stores generating negative EBITDA during ramp-up. As with prior acquisitions, future large-scale deals are likely to be funded through additional debt and sale-leaseback transactions, which could keep Mavis' EBITDAR leverage high. Execution and integration risks persist, though Mavis has a strong track record of margin improvement across acquired brands since 2018 and mature greenfields achieving about a two-year payback period. Margin Expansion: Fitch expects EBITDA to expand to around $750 million in 2026 from $633 million in 2025, with strong EBITDAR margins that Fitch expects to improve by 100 to 200 bps in 2026. The acquired Midas stores could contribute an additional $60 million EBITDA in 2026 based on a full year of operations, while improving margins given its largely franchised operation. Integration synergies and maturing stores from 2022-2024 support additional near-term margin expansion. MavOS, Mavis' proprietary operating system, could drive 100-200 bps gross margin improvement through enhanced labor deployment efficiency and inventory management, with full rollout across 1,600+ company-operated stores expected by 2026 end. EBITDAR margins could continue improving in the next few years, supported by operating leverage, private label tire penetration growth, and digital transformation. High Leverage with Deleveraging Path: Fitch expects EBITDAR leverage to rise to the high-6x in 2026, pro forma for the $775 million term loan to redeem the convertible preferred equity, then decline gradually to the mid-6x range by 2029 through EBITDA growth rather than debt repayment. The deleveraging path could be delayed by debt-funded acquisitions, consistent with growth-oriented capital allocation. EBITDAR fixed charge coverage is high and could remain in the mid-to-high 1x range through 2026-2029. Scaled Leader, Fragmented Market: Mavis benefits from its established position as a leading tire and automotive services retailer in the US, with around 3.4% market share and 3,619 locations across 49 states. The industry is highly fragmented with the top five players together holding less than 10% of market share, with the remainder dominated by independent operators. Mavis differentiates itself through its convenience, broad selection, competitive pricing, and high-quality customer service. Its scale provides advantages in procurement, marketing, and data-driven site selection, supporting above-industry same-store sales and unit growth. Adequate Liquidity: Mavis had adequate liquidity of $478 million at 2025 end to support its store expansion program, comprising $83 million in cash and $395 million availability from revolver. Fitch expects negative FCF (after growth capex) during the near to intermediate term, driven by growth capex, and the increase in interest expense of around $50 million. Mavis can supplement funding through sale-leaseback transactions and revolver draws. Fitch expects management to moderate growth if liquidity tightens, with risks diminishing as the platform scales. Non-Discretionary Market, Industry Tailwind: Automotive preventative maintenance is non-discretionary and resilient across economic cycles, with growing car counts and miles driven supporting demand. Mavis has delivered 18+ years of positive SSS. Vehicle aging and rising complexity increase repair frequency and average ticket values. EV adoption introduces modest oil change headwinds, though EVs wear tires ~30% faster due to increased weight. Oil changes are around 12% of Mavis' revenue, limiting direct exposure. Consumer trade-down to maintenance over new vehicle purchases in economic stress provides counter-cyclical support. Parent Subsidiary Linkage: Fitch's analysis includes a strong subsidiary/weak parent approach between the parent, Metis HoldCo, Inc. and its subsidiary, Mavis Tire Express Services TopCo, Corp. Fitch assesses the quality of the overall linkage as high, which results in consolidation of the ratings. The consolidation reflects open legal ring-fencing and open access and control between the strong subsidiary and the parent. Peer Analysis Mavis's peers include Genuine Parts Company (GPC; BBB-/Rating Watch Negative), Asbury Automotive Group (BB/Stable), Sonic Automotive (BB/Stable) and Wayfair Inc. (B/Positive). All are leaders in their respective highly fragmented markets yet hold modest share. Mavis holds about 3.4% of the over $170 billion U.S. tire and services market. Mavis's 2026 expected EBITDA of about $750 million exceeds Wayfair's (about $650 million) and Sonic ($560 million) and is below Asbury (about $1 billion). Mavis's gross profit of about $2 billion exceeds Asbury's and Sonic's parts and service (P&S) segment gross profit alone, about $1.5 billion and $1 billion respectively, highlighting its scale in non-discretionary services. GPC operates at a materially larger scale (about $2B EBITDA, $24 billion revenue) with automotive and industrial diversification, though is on Rating Watch Negative given its planned separation. EBITDAR leverage is the key rating differentiator. Mavis's 2026 expected leverage of high-6x exceeds Asbury's mid-3x, Sonic's about 4x and GPC's high-3x. Wayfair serves as a 'B' rated leverage comparable at mid-4x EBITDAR leverage in 2026. Fitch’s Key Rating-Case Assumptions - Revenue increases in the mid-to-high single digits to $4.6 billion in 2026 from $4.3 billion in 2025, driven by around 120 new greenfield / brownfield store openings, mature same store sales growth in low single digit, and the added Midas franchise contribution. Revenue could continue to increase in the mid-to-high single digit in 2027-2029, supported by accelerated store openings and bolt-on acquisitions; - EBITDAR margins could expand by 100-200 bps, driven by operating leverage on the fixed cost base, continued growth of the private label tire program, and the full rollout of MavOS, partially offset by new store ramp-up costs; - Capex is expected to rise in the near to intermediate term to support the accelerated growth plan, leading to negative FCF (after growth capex), assuming neutral working capital; - EBITDAR leverage increase to high-6x in 2026, and improve toward low-6x by 2029 supported by EBITDA expansion; - Mavis's first lien term loan bears interest at SOFR plus 300 bps, and the revolver has a leverage-based floating rate, estimated at SOFR plus 250 bps. Fitch expects the new $775 million term loan could have interest rate at SOFR plus mid-300 bps. Fitch assumes a SOFR base rates of 3.5% over the forecast period. The $720 million senior unsecured notes have a fixed coupon of 6.5%. Corporate Rating Tool Inputs and Scores Fitch scored the issuer as follows, using its Corporate Rating Tool (CRT) to produce the Standalone Credit Profile (SCP): - Business and financial profile factors (assessment, relative importance): Management (bb, Moderate), Sector Characteristics (bb+, Moderate), Market and Competitive Positioning (bb+, Higher), Diversification and Asset Quality (bb, Lower), Company Operational Characteristics (bb, Moderate), Profitability (b-, Moderate), Financial Structure (ccc+, Higher), and Financial Flexibility (b-, Moderate). - The quantitative financial subfactors are based on custom CRT financial period parameters: 20% weight for the forecast year 2026, 40% for the forecast year 2027 and 40% for the forecast year 2028. - B+ to CC considerations apply in its analysis and result in no adjustment. - The Governance assessment of 'Good' results in no adjustment. - The Operating Environment assessment of 'aa-' results in no adjustment. - The SCP is 'b-'. To derive the IDR: - Application of Fitch's Parent Subsidiary Linkage Rating Criteria results in a consolidated approach. Recovery Analysis For issuers with IDRs of 'B+' and below, Fitch performs a recovery analysis for each class of obligations of the issuer. The issue ratings are derived from the IDR and the relevant Recovery Rating (RR) and notching, based on Fitch's recovery analysis. Fitch's recovery analysis assumes Mavis' value is maximized as a going concern in a post-default scenario, given a going concern valuation of approximately $3.2 billion relative to a liquidation value of around $1.1 billion. Fitch's going concern value is derived from a projected EBITDA of around $525 million. The scenario assumes a lower revenue base of around $3.7 billion, around 20% below expected 2026 revenue, assuming mis-execution yields customer count declines. EBITDA margins could trend below projected 2026 levels, assuming the impact of lost sales on Mavis' fixed expenses are somewhat offset by cost reductions. Fitch selected a going concern multiple of 6x, within the 4x-8x range observed for North American corporates, reflecting an assessment of Mavis' industry dynamics and company-specific factors. This is at the upper end of the 4x-6x range used in Fitch's analysis of retailers given the company's exposure to the non-discretionary tire and vehicle maintenance services. Mavis' secured revolver and term loan are pari passu. Fitch assumes the $800 million revolver, which is secured by substantially all of Mavis' assets, would be fully drawn. After deducting 10% administrative claims from the going concern valuation, the secured debt would have good recovery prospects resulting in a 'B'/ 'RR3' rating while the unsecured notes would have poor recovery prospects, resulting in a 'CCC'/ 'RR6' rating. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - Weaker-than-expected operating results, persistently negative FCF, with EBITDAR Fixed Charge Coverage sustained below 1.5x; - Financial policy decisions, including debt-financed M&A or share repurchases, resulting in EBITDAR leverage sustained above 7.5x. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - Continued strong operating performance, with FCF trending towards breakeven, and EBITDAR Fixed Charge Coverage sustained above 2.0x; - EBITDAR leverage sustained below 6.5x through better-than-expected operating performance and/or financial policy actions. Liquidity and Debt Structure As of Dec. 31, 2025, Mavis' liquidity totaled $478.1 million, including $82.9 million in cash and equivalents, and $395.2 million available (net of LOCs) under its $800 million revolver due 2028. Fitch views Mavis' liquidity as satisfactory, taking into account the flexibility in its growth capex. Pro forma for the transaction, total debt increases to $5.5 billion, comprising $410 million in revolver borrowings, a $3.6 billion first lien term loan due May 2028, a new $775 million non-fungible first lien term loan due May 2033, and $720 million in senior unsecured notes due May 2029. The new term loan includes a springing maturity 91 days prior to the senior unsecured notes if more than $500 million remains outstanding. Proceeds from the new term loan will fund the redemption of convertible preferred equity at Metis HoldCo, the indirect parent of the rated entity. Mavis' next material maturity is May 2028 when the revolver and existing first lien term loan come due. Issuer Profile Mavis is a leading independent tire and auto service retailer in the U.S. It has 2,401 company-operated retail services centers and 1,218 franchised service centers across 49 states in the U.S. and Canada. Summary of Financial Adjustments - EBITDA is adjusted for stock-based compensation; - Lease-related interest and D&A are reclassified as operating costs in the income statement and as operating cash outflows in the cash flow statement, in accordance with Fitch's Corporate Rating Criteria; - Balance sheet lease liabilities are used as lease-equivalent debt starting in Fiscal 2023, in accordance with Fitch's Corporate rating criteria dated Dec. 6, 2024. Prior years used an 8x multiple applied to lease expense for lease-equivalent debt. Date of Relevant Committee 29 April 2026 MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS Fitch's latest quarterly Global Corporates Sector Forecasts Monitor data file which aggregates key data points used in its credit analysis. Fitch's macroeconomic forecasts, commodity price assumptions, default rate forecasts, sector key performance indicators and sector-level forecasts are among the data items included. Climate Vulnerability Signals The Climate Vulnerability Score for Mavis for 2035 is 25 out of 100, suggesting low exposure to climate-related risks in that year. ESG Considerations Fitch does not provide ESG relevance scores for Mavis Tire Express Services TopCo, Corp. and Metis HoldCo, Inc. Entity/Debt Rating Recovery ----------- ------ -------- Metis HoldCo, Inc. LT IDR B- New Rating Mavis Tire Express Services TopCo, Corp. LT IDR B- New Rating senior unsecured LT CCC New Rating RR6 senior secured LT B New Rating RR3 MEGA KYON: Case Summary & Five Unsecured Creditors -------------------------------------------------- Debtor: Mega Kyon, Inc. Pet Supplies Plus 64 N. Mill Street Hopkinton, MA 01748 Business Description: Mega Kyon, Inc., doing business as Pet Supplies Plus, operates a pet supplies retail store at 1150 Newport Ave. in Attleboro, Massachusetts. The company sells pet food, supplies, and related products for dogs, cats, reptiles, small animals, wild birds, and other pets. It also provides grooming, dog wash, veterinary clinic access, online ordering, curbside pickup, and same-day delivery services. Chapter 11 Petition Date: May 4, 2026 Court: United States Bankruptcy Court District of Massachusetts Case No.: 26-40523 Judge: Hon. Elizabeth D Katz Debtor's Counsel: Marques Lipton, Esq. LIPTON LAW GROUP, LLC 945 Concord Street Framingham MA 01701 E-mail: marques@liptonlg.com Total Assets: $262,309 Total Debts: $1,840,224 The petition was signed by John Barris as president. 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/ZVZJ3KA/Mega_Kyon_Inc__mabke-26-40523__0001.0.pdf?mcid=tGE4TAMA MIYOSHI AMERICA: Gets Interim OK for DIP Financing from Parent -------------------------------------------------------------- Miyoshi America, Inc. received interim approval from the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, to use cash collateral and obtain post-petition financing to get through bankruptcy. Miyoshi America, a manufacturer of surface-treated pigments and mineral substances for the cosmetics industry, commenced its Chapter 11 case to resolve mounting talc-related personal injury liabilities. The centerpiece of the restructuring is a Prepackaged Plan of Reorganization that establishes a funded "Talc Personal Injury Trust" and implements a channeling injunction to centralize all current and future claims. The Debtor asserts that the increasing volume of litigation and defense costs has severely strained its liquidity, making immediate access to a Debtor-in-Possession facility essential to maintaining operations and funding the plan's consummation. The financing is a $20 million senior secured DIP term loan facility provided by the Debtor's parent company, Miyoshi Kasei, Inc. The facility is structured as follows: New Money Loans: Up to $5 million in fresh capital, with $2 million available upon entry of an interim order and $3 million available upon a final order. Debt Roll-Up: Up to $15 million of the Debtor's prepetition debt will be "rolled up" (exchanged) into the DIP facility. This occurs in stages, with $5 million swapped at the interim stage and $10 million at the final stage. Terms: The loans carry an interest rate of 7.50% per annum, with interest deferred until the maturity date of June 30, 2026 (or the plan's effective date). Notably, the Debtor and MKI have agreed to bear their own costs for negotiating and implementing the facility. The facility includes strict operational oversight, requiring biweekly budget variance reports and a covenant that the Debtor must not exceed a 15% negative variance on total operating disbursements. The Debtor is also required to maintain a minimum liquidity of $1.5 million. Failure to meet these financial covenants or case milestones—such as the timely confirmation of the Plan—would constitute an event of default, allowing the lender to accelerate the debt and terminate the facility. To secure the DIP obligations, the Debtor offers granting MKI superpriority administrative expense claims and senior liens on substantially all assets), excluding avoidance actions. These liens will prime existing prepetition liens but remain subject to a "carve-out" for professional and statutory fees. Additionally, because the Debtor intends to use "Cash Collateral" (existing cash subject to prepetition liens), it offers providing adequate protection to prepetition secured parties through replacement liens and superpriority claims to compensate for any potential diminution in collateral value. The Debtor emphasizes that after a thorough market search by its advisors, no third-party lender was willing to provide financing due to the company's contingent talc liabilities and capital structure. Consequently, the MKI-led facility is presented as the only viable option. The motion highlights that the terms were the product of arm's-length negotiations and have received support from key stakeholders, including an Ad Hoc Committee of talc claimants and a Future Claimants' Representative. Furthermore, the overwhelming majority of voting talc claimants accepted the Plan, which explicitly included the DIP facility as a core component. A copy of the interim DIP order is available at https://is.gd/pLpzc7 from PacerMonitor.com. The final hearing is set for June 3. The deadline for filing objections is on May 27. Miyoshi Kasei, as DIP lender, is represented by: Matthew S. Okin, Esq. Ryan A. O'Connor, Esq. 1113 Vine St., Suite 240 Houston, TX 77002 Tel: 713.228.4100 Fax: 346.247.7158 mokin@okinadams.com roconnor@okinadams.com About Miyoshi America Inc. Miyoshi America, Inc. is a Texas-incorporated company founded in 1985 and primarily operating from its headquarters in Dayville, Connecticut. The company processes, treats, manufactures, and sells specialized ingredients, including pigments, composites, substrates, and sunscreen ingredients, for cosmetics manufacturers. It also maintains a lab and sales office in Valley Cottage, New York. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90522) on April 27, 2026. In the petition signed by Edward Houliha, vice president, the Debtor disclosed up to $50 million in both assets and liabilities. Judge Christopher M. Lopez oversees the case. The Debtors tapped Charles S. Kelley, Esq. at MAYER BROWN LLP as general bankruptcy counsel, ALVAREZ & MARSAL NORTH AMERICA, LLC as financial advisor, SMITH GOFFMAN PARTNERS as investment banker, and STRETTO, INC., as claims, noticing, solicitation, and balloting agent. MIYOSHI AMERICA: Unsecureds "Unimpaired" in Prepackaged Plan ------------------------------------------------------------ Miyoshi America, Inc., filed with the U.S. Bankruptcy Court for the Southern District of Texas a Disclosure Statement for the Prepackaged Plan of Reorganization dated April 27, 2026. The Debtor is a domestic company, incorporated in the state of Texas, that processes and sells specialized ingredients (such as pigments, composites, and substrates) to cosmetic manufacturers, who then use them to improve the look, feel, and durability of makeup and other beauty products. The Debtor is currently named as defendant in approximately 241 personal injury cases asserting claims based on allegations that the Debtor's talc-based products were contaminated with asbestos, resulting in the development of mesothelioma (or similar allegations). The first such case was filed against the Debtor in 2015. Additional similar cases were filed against the Debtor continuing in 2017 and 2018, but the number of cases was small, and the costs of defending against those cases were manageable. However, beginning in 2022, the pace of filings against the Debtor accelerated, with 5 cases filed in 2022, 35 cases filed in 2023, 34 cases filed in 2024, and 167 cases filed in 2025. There are currently more than 200 such cases pending against the Debtor. To the Debtor's knowledge, no employee of the Debtor has ever developed mesothelioma, and no such claims have ever been asserted against the Debtor. Prior to commencing the Chapter 11 Case, the Debtor has negotiated the terms of the Plan together with: (1) its parent, non-debtor Miyoshi Kasei Inc. ("MKI"); (2) an ad hoc committee of law firms representing individuals asserting certain talc-related claims against Miyoshi (the "Ad Hoc Committee"); and (3) Hon. Shelley C. Chapman (Ret.), as a representative on behalf of potential future holders of talc claims against Miyoshi (the "Prepetition Future Claimants' Representative" and together with MKI, the Ad Hoc Committee, and the Debtor, the "Plan Proponents"). The cornerstone of the Plan is the creation of the Talc Personal Injury Trust that will be primarily responsible for paying all Talc Personal Injury Claims according to specified trust procedures designed to streamline the resolution of claims and maximize assets available for all claimants. The Talc Personal Injury Trust will be managed by a trustee and overseen by a Talc Personal Injury Trust Advisory Committee consisting of representatives of holders of Talc Personal Injury Claims, which will ensure that all present and future claimants are treated fairly and equitably. The Talc Personal Injury Trust is to be funded with $20 million paid by the Debtor, including $19 million on the Effective Date of the Plan and $1 million paid pursuant to a promissory note within six months following the Effective Date of the Plan. Following months of settlement discussions between and among the parties, including the exchange of numerous incremental term sheet drafts and several in-person and virtual meetings, on January 30, 2026, the Ad Hoc Committee presented the Debtor with a proposed final Plan Support and Restructuring Term Sheet (the "Term Sheet"), executed by each member of the Ad Hoc Committee. Shortly thereafter, the Debtor, MKI, and the Prepetition Future Claimants’ Representative agreed to, and countersigned, the Term Sheet. Class 3 consists of General Unsecured Claims. Except to the extent a Holder of an Allowed General Unsecured Claim agrees to different treatment of that General Unsecured Claim, each Holder of an Allowed General Unsecured Claim shall be Reinstated and paid in the ordinary course of business in accordance with the terms and conditions of the particular transaction or agreement giving rise to such General Unsecured Claim, or otherwise provided such treatment to render it Unimpaired, or as otherwise agreed to between the parties, in each case, without the need to file a proof of claim. Class 3 is Unimpaired by the Plan, and each Holder of a Class 3 General Unsecured Claim is conclusively presumed to have accepted the Plan pursuant to section 1126(f) of the Bankruptcy Code. Therefore, Holders of Class 3 General Unsecured Claims are not entitled to vote to accept or reject the Plan. Class 4 consists of Talc Personal Injury Claims. As of the Effective Date, liability for all Talc Personal Injury Claims shall automatically, and without further act, deed, or court order, be channeled solely and exclusively to and assumed by the Talc Personal Injury Trust in accordance with, and to the extent set forth in, Articles IV and VIII of the Plan, the applicable Plan Documents and the Confirmation Order. Each Talc Personal Injury Claim shall be resolved in accordance with the terms, provisions, and procedures of the Talc Personal Injury Trust Agreement and the Talc Personal Injury Trust Distribution Procedures. The Talc Personal Injury Trust shall be funded in accordance with the provisions of Article IV.B of the Plan. The sole recourse of the Holder of a Talc Personal Injury Claim on account of such Talc Personal Injury Claim shall be to the Talc Personal Injury Trust, and each such Holder shall have no right whatsoever at any time to assert its Talc Personal Injury Claim against any Protected Party. Class 4 is Impaired by the Plan. Class 7 consists of all Miyoshi Equity Interests. On the Effective Date, in accordance with Article IV.B.1 of the Plan, and subject to terms of the Miyoshi Promissory Note and Pledge and Security Agreement, MKI shall receive 100% of the Reorganized Debtor Stock on account of the MKI Contribution. On the Effective Date, the Talc Personal Injury Trust shall be established in accordance with the Plan Documents, the Talc Personal Injury Trust Documents, and sections 524(g) and 105(a) of the Bankruptcy Code, and it will be managed pursuant to the terms and conditions of the Talc Personal Injury Trust Documents. On the Effective Date, the Cooperation Agreement will become effective, and the Debtor's talc- and asbestos-related records will be treated in accordance therewith. On and after the Confirmation Date, the Debtor will be empowered and authorized to take or cause to be taken, prior to the Effective Date, all actions necessary to implement the provisions of the Plan, including, without limitation, the creation of the Talc Personal Injury Trust and the preparations for the transfer of the Talc Personal Injury Trust Assets to the Talc Personal Injury Trust. A full-text copy of the Disclosure Statement dated April 27, 2026 is available at https://urlcurt.com/u?l=Sr48TL from Stretto, claims agent. The Debtor's Counsel: Charles S. Kelley, Esq. MAYER BROWN LLP 700 Louisiana Street, Suite 3400 Houston TX 77002-2730 Tel: (713) 238-3000 Email: ckelley@mayerbrown.com About Miyoshi America Inc. Miyoshi America, Inc. is a Texas-incorporated company founded in 1985 and primarily operating from its headquarters in Dayville, Connecticut. The company processes, treats, manufactures, and sells specialized ingredients, including pigments, composites, substrates, and sunscreen ingredients, for cosmetics manufacturers. It also maintains a lab and sales office in Valley Cottage, New York. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 26-90522) on April 27, 2026, with $10 million to $50 million in assets and liabilities. Edward Houlihan, vice president, signed the petition. Judge Christopher M. Lopez presides over the case. The Debtor tapped MAYER BROWN LLP as legal counsel; Alvarez & Marsal North America LLC as financial advisor; and Smith Goffman Partners as investments banker. Stretto Inc. is the claims agent. MONOGRAM FOOD: Moody's Ups CFR to B2, Outlook Stable ---------------------------------------------------- Moody's Ratings upgraded Monogram Food Solutions, LLC's ("Monogram") Corporate Family Rating to B2 from B3 and Probability of Default Rating to B2-PD from B3-PD. In addition, Moody's upgraded the ratings on Monogram's senior secured first lien revolving credit facility and senior secured first lien term loan B to B2 from B3. The outlook is stable. The upgrade reflects the company's significant progress in reducing debt-to-EBITDA leverage to 4.7x (Moody's adjusted) for the LTM period ended April 04, 2026, from above 6.0x at fiscal year-end 2024, supported by earnings growth and debt repayment. Earnings growth has been driven by higher volumes in meat sticks and pre-cooked bacon, which have more than offset softness in other categories, along with contributions from ongoing operational efficiency initiatives. Improved earnings and working capital initiatives have strengthened free cash flow generation, with the company generating approximately $30 million of Moody's-adjusted free cash flow in 2025, and Moody's expects free cash flow to continue to improve in 2026, supported by further earnings growth, assuming that there are no material additional capex needs to support new business. Monogram's good liquidity is supported by $84 million of availability under its $100 million revolving credit facility as of April 4, 2026 (net of $12 million drawn and $4 million of letters of credit). Balance sheet cash was less than $1 million. The revolver matures in May 2028, and the term loan matures in August 2028. While Moody's expects the company to proactively address its 2028 maturities ahead of the debt becoming current, failure to do so could weaken liquidity. RATINGS RATIONALE Monogram's B2 CFR reflects its small scale relative to larger, better capitalized peers, high customer concentration, and lower profitability than branded packaged food manufacturers and certain other co-packers. The rating also incorporates event risk associated with private investment firm ownership, including the potential for debt financed shareholder distributions or acquisitions. These risks are partially offset by Monogram's diversification across channels and business models, with exposure to both retail and foodservice customers, as well as a mix of co-manufacturing, private label, and limited branded sales, which provides some resilience as consumers shift between channels and product offerings. The company also benefits from long-standing relationships with large food customers and an ability to pass through commodity cost fluctuations on the majority of its contracts, although this is often done with a time lag. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS The stable outlook reflects Moody's expectations that the company will grow earnings and continue to generate positive free cash flow to support ongoing debt repayment, with debt-to-EBITDA leverage sustained below 5.5x (Moody's adjusted). The outlook also assumes that the company will proactively address its 2028 maturities ahead of the debt becoming current. A rating upgrade would require a significant increase in scale, including materially higher revenue, EBITDA, and free cash flow. The company would also need to sustainably achieve much higher EBITDA margins, maintain strong liquidity, and adhere to a financial policy consistent with sustaining debt-to-EBITDA below 4.0x. A rating downgrade could occur if operating performance weakens, the financial policy becomes more aggressive, liquidity deteriorates, or free cash flow is not sustained at a comfortably positive level. A downgrade could also occur if debt-to-EBITDA is sustained above 5.5x or if EBITDA less capital spending-to-interest falls below 1.25x. PRINCIPAL METHODOLOGY The principal methodology used in these ratings was Consumer Packaged Goods published in February 2026. The net effect of any adjustments applied to rating factor scores or scorecard outputs under the primary methodology(ies), if any, was not material to the ratings addressed in this announcement. COMPANY PROFILE Headquartered in Memphis, Tennessee and founded in 2004 initially with assets from Sara Lee, Monogram Food Solutions, LLC is a manufacturer and marketer of meat snacks, appetizers, assembled sandwiches, fully cooked and raw bacon, corn dogs, and other products. Monogram operates 12 manufacturing facilities across 6 states. Pritzker Private Capital led a leveraged buyout of the company in August 2021. The investment firm has the largest ownership position, with the remainder of the company owned by other investors, management and other rollover investors. Monogram generated sales of approximately $1.4 billion as of the 12 months ended April 04, 2026. MOUNTAIN VISTA: Trustee Hires Colliers as Real Estate Broker ------------------------------------------------------------ David P. Stapleton, the Chapter 11 trustee of Mountain Vista Holdings, LLC, seeks approval from the U.S. Bankruptcy Court for the Central District of California to hire Colliers as real estate broker. The firm will market and sell the Debtor's property consisting of 4.18 acres of vacant land in an unincorporated area of San Diego County near Vista, California, APN: 183-131-23-00, 183-131-24-00, 183-131-25-00 and 183-131-26-00. The broker will receive a commission equal to 3% from the sale proceeds. David Santistevan, a senior executive vice president of Colliers, assured the court that his firm is a "disinterested person" within the meaning of 11 U.S.C. Sec. 101(14). The firm can be reached through: David Santistevan Colliers 4350 La Jolla Village Drive, Suite 500, San Diego, CA 92122 Telephone: (619) 994-8896 About Mountain Vista Holdings LLC Mountain Vista Holdings, LLC is a single-asset real estate company in Los Angeles, Calif. Mountain Vista Holdings sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Calif. Case No. 25-13296) on November 19, 2025, with $8,200,200 in assets and $4,786,000 in liabilities. D. Scott Abernethy, manager, signed the petition. Judge Scott C. Clarkson presides over the case. James Mortensen, Esq., at Socal Law Group, PC represents the Debtor as bankruptcy counsel. NM SOUTH: Voluntary Chapter 11 Case Summary ------------------------------------------- Debtor: NM South, LLC 28 Seven Oaks Drive Bluffton, SC 29910 Business Description: NM South, LLC, a real estate-related company listed in Bluffton, South Carolina, is associated with a single-family residential estate at 28 Seven Oaks Drive. Chapter 11 Petition Date: May 3, 2026 Court: United States Bankruptcy Court District of Delaware Case No.: 26-10653 Judge: Hon. Mary F. Walrath Debtor's Counsel: David Klauder, Esq. BIELLI & KLAUDER, LLC 1204 N. King Street Wilmington, DE 19801 Tel:(302) 803-4600 E-mail: dklauder@bk-legal.com Estimated Assets: $10 million to $50 million Estimated Liabilities: $1 million to $10 million The petition was signed by Ryan Lynch as sole member. 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/IGVMH5Q/NM_South_LLC__debke-26-10653__0001.0.pdf?mcid=tGE4TAMA NUANCE ENERGY: Hires Wolf Rifkin Shapiro as Bankruptcy Counsel -------------------------------------------------------------- Nuance Energy Group, Inc. seeks approval from the U.S. Bankruptcy Court for the Central District of California to employ Wolf, Rifkin, Shapiro, Schulman & Rabkin, LLP as its bankruptcy counsel. The firm's services include: a. advising the Debtor with regard to the requirements of the Bankruptcy Court, Bankruptcy Code, Bankruptcy Rules and the Office of the United States Trustee as they pertain to the Debtor; b. advising the Debtor with regard to certain rights and remedies of its bankruptcy estate and the rights, claims and interests of creditors; c. representing the Debtor in any proceeding or hearing in the Bankruptcy Court involving its estate unless the Debtor is represented in such proceeding or hearing by other special counsel; d. preparing and/or assisting the Debtor in the preparation of reports, applications, pleadings and orders; e. representing the Debtor with regard to the administration of the estate and to seeking Bankruptcy Court approval for the closure of the case; and f. performing any other services which may be appropriate in WRSSR's representation of the Debtor during its bankruptcy case. The firm will be paid at these hourly rates: Simon Aron, Esq. $750 Daniel Medioni $595 The firm received a total of $20,000 from the Debtor's Chief Executive Officer, Brian Boguess, as and for a retainer for legal services rendered and to be rendered. Simon Aron, Esq., a partner at Wolf Rifkin, disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Simon Aron, Esq. Wolf Rifkin Shapiro Schulman & Rabkin, LLP 11400 West Olympic Blvd., 9th Floor Los Angeles, CA 90064 Tel: (310) 478-4100 Fax: (310) 479-1422 Email: saron@wrslawyers.com About Nuance Energy Group Nuance Energy Group, Inc., a Santa Monica, Calif.-based licensed solar contractor, filed a Chapter 11 petition (Bankr. C.D. Cal. Case No. 20-17761) on Aug. 25, 2020. At the time of the filing, the Debtor was estimated to have $1 million to $10 million in both assets and liabilities. Nuance Energy CEO Brian Carlyle Boguess signed the petition. Judge Vincent P. Zurzolo oversees the case. The Law Offices of Michael Jay Berger serves as the Debtor's bankruptcy counsel. ODEON FINCO: Moody's Rates New Secured First Lien Term Loan 'B3' ---------------------------------------------------------------- Moody's Ratings assigned a B3 rating to a new backed Senior Secured First-Lien Term Loan B due 2031 at Odeon Finco PLC (Odeon). The outlook has been assigned stable. Moody's affirmed all other credit ratings including AMC Entertainment Holdings, Inc.'s (AMC) Caa2 Corporate Family Rating, Caa2-PD Probability of Default Rating, existing B3 rated Senior Secured First-Lien Term Loan Facility at AMC (AMC TL), Caa3 rated Senior Secured First-Lien Notes (7.5% Notes) at AMC, Caa3 rated Senior Secured First-Lien Notes at AMC, Caa3 rated Backed Senior Secured Notes (Exchangeable Notes) at Muvico, LLC (Muvico), and the Ca rated Senior Subordinated Notes (Sub Notes) at AMC. AMC's Speculative Grade Liquidity Rating (SGL) remains unchanged at SGL-4. The outlook for all issuers remains stable. AMC's B3 Senior Secured First Lien Term Loan B rating and Muvico's B3 backed Senior Secured First Lien notes rating have been withdrawn in connection with this rating action as the related transactions were not completed. The outlook for AMC and Muvico remains stable. On April 17, the company announced [1] that Odeon (a wholly-owned subsidiary of Odeon Cinemas Group Limited (OCGL, or the Odeon Group) and an indirect subsidiary of AMC), entered into a credit agreement (including OCGL as co-borrower) to borrow a new $425 million 5-year, Senior Secured First-Lien Term Loan B (TL) facility due 2031. The proceeds from the issuance were used to fund the previously announced full redemption of Odeon's outstanding 12.75% Senior Secured Notes due 2027 and to pay related fees, costs, premiums and expenses. The obligations bear interest at a fixed 10.5% interest rate and are subject to 1% annual amortization. The TL will be secured on a first-lien basis by all assets of the Odeon Group (including Odeon) and fully and unconditionally guaranteed on a joint and several basis by the Odeon Group, and by AMC on an unsecured basis. The loan is subject to a financial maintenance covenant that requires the Odeon Group to hold a minimum of $40 million in cash as of the last day of each fiscal quarter. Moody's views the transaction as marginally credit positive. The rate on the new loans is lower than the existing rate on the notes to be refinanced and the maturity is pushed out to 2031 from 2027. The changes in the liens proposed in the previous transaction are superseded by the current lien structure (as discussed below). RATINGS RATIONALE AMC's Caa2 CFR reflects the company's declining but still high leverage (6.8x LTM, Moody's adjusted and 10.5x excluding Moody's standard adjustment for leases) and sub-scale position relative to significant fixed costs including capex, rent, and borrowing costs which constrains operating leverage and results in recurring annual negative free cash flow. Liquidity is also weak, constrained by reduced cash balances and no revolver capacity. A history and continued high risk of debt restructurings and distressed exchanges to manage debt maturities and resulting complexity in the organizational and capital structure are risks reflected in the CIS-5 Credit Impact Score and G-5 Issuer Profile Score. The company is also challenged by a number of unfavorable industry dynamics and risks including (i) a slow and uneven recovery from the 2020 pandemic with the North American box office well below pre-pandemic levels, (ii) the potential for industry strikes in 2026 which could cause a significant market disruption as was the case in the 2023 strikes which substantially weakened the slate in 2024 and into 2025, (iii) a structural shift to a much shorter theatrical window, (iv) the shift to streaming movies direct-to-consumer (DTC), and (v) inherent volatility and unpredictability of box office attendance / success. Offsetting these weaknesses is the company's moderate geographic diversity and position as the world's largest movie exhibitor with a stabilized low 20% share of the North American box office. The consistent rise in ticket prices and very high gross margins in admissions and in particular, food and beverages, are also supportive. The stable outlook reflects Moody's views of an improving box office, a strong and stable market share, sustained and very strong gross profit margins, and the expectation for good growth in both revenue and earnings over the next 12-18 months. Despite these supporting factors, Moody's believes AMC could continue to manage its debt maturities and debt service costs with forms of financing which could be structured as a distressed exchange which Moody's views as a default. Moody's also expects the company's liquidity to remain weak and under pressure with persistently, and significantly negative annual free cash flow due to the current sub-scale of the company relative to its high fixed-costs. Liquidity is weak, reflected in the SGL-4. The company's cash balance fell to $429 million at the end of 2025 (from $632 million at the end of the prior year) and it has no revolving credit facility. Negative annualized free cash flows over the next 12-15 months will weaken liquidity, requiring continued reliance on the capital markets to raise additional sources of liquidity. The company is not subject to financial maintenance covenants, but Moody's believes there is limited alternate liquidity given the secured capital structure and lack of equity cushion. STRUCTURAL CONSIDERATIONS The B3 rated Odeon TLB due 2031 reflects a first-lien claim on all assets at Odeon which includes certain international assets that Moody's estimates are very significant relative to the outstanding debt. These lenders have no lien on the assets of Muvico or AMC. The existing B3 rated AMC TL due 2029 (Muvico as co-borrower) benefits from a first priority claim on the assets of Muvico which Moody's believes contains a significant portion of high-quality assets of the consolidated entity. It also has a first-lien claim on the assets of AMC (excluding certain international assets) which it shares with the other AMC senior secured first-lien lenders. The existing AMC TL does not have a direct lien on Odeon assets but does have a lien on an intercompany note which is secured by the equity of an Odeon holding company which Moody's believes may have some residual value in excess of the first-lien creditor claims. The existing AMC TL is also supported by the loss absorption in a default scenario provided by a substantial amount of more junior claims with weaker (or no) lien positions at AMC and Muvico. Moody's do not rate the 1.5% exchangeable notes due 2030 at Muvico. These noteholders have a 1.25 lien claim on Muvico assets, effectively a second lien behind the AMC TL and share – on a pari passu basis - in the recoveries of AMC on a first-lien basis but are subject to a turnover provision in the event first lien lenders at AMC do not fully recover their claims. These noteholders benefit from the loss-absorption of more junior claims at Muvico and AMC. These noteholders can elect to exchange their debt for equity over a certain period when AMC's stock price reaches a certain level. Given the structure and the conditions of the terms, notably a very low 1.5% interest rate, a soft call and mandatorily redeemable feature, Moody's expects these notes to be converted to equity over the near term. The Caa3 rated AMC PIK notes due 2029 share – on a pari passu basis - in the recoveries of AMC on a first-lien basis and 1.5 liens on Muvico assets (effectively the third claim priority at Muvico) and is supported by more junior claims including the 7.5% Notes and Sub Notes, which both don't have a lien on Muvico. These creditors do not have a lien on the existing assets of the Odeon Group. The Caa3 rated 7.5% Notes due 2029 at AMC shares in the recoveries of all other AMC first-lien creditors but does not have a lien on the assets at Muvico or the Odeon Group. The Caa3 rated Exchangeable Notes due 2030 at Muvico reflects their position behind all other lenders at Muvico. It also shares – on a pari passu basis - in the recoveries of AMC on a first-lien basis, but subject to a turnover provision in the event first lien lenders at AMC do not fully recover their claims. These creditors do not have a lien on the Odeon Group, and are in the weakest position, other than the Ca rated Sub Notes. The Ca rated Sub Notes due 2027 are the most junior claims in the capital structure reflecting the unsecured nature of the claims, with no liens on any of the asset pools including AMC, Muvico or the Odeon Group assets. Moody's instrument ratings reflect both the probability of default, as reflected in the Caa2-PD probability of default rating, and an average expected family recovery rate of 50% at default. Marketing terms for the new credit facilities (final terms may differ materially) include the following: The Odeon Credit Agreement does not have an incremental facility. The agreement prohibits the designation of unrestricted subsidiaries, preventing collateral "leakage" to such subsidiaries. The credit agreement provides some limitations on up-tiering transactions, requiring consent from affected lenders for amendments that subordinate the debt and/or liens unless such lenders can ratably participate in such priming debt. There are provisions to prevent "double-dip" financing transactions that rely on pari-passu intercompany claims. FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS Ratings could be upgraded if Moody's expects a lower risk of debt restructuring and distressed exchanges with well-managed debt maturities, improved liquidity supported by free cash flow trending nearer break-even, sustained growth in revenue and earnings, and a more sustainable capital structure with lower leverage and or interest cost. Ratings could be downgraded if Moody's believes the risk of default is increasing or recovery at default is declining, evidenced by weak operating performance or declining liquidity. Headquartered in Leawood, Kansas, AMC Entertainment Holdings, Inc. is the largest movie exhibitor in the US and globally, owning, operating or with interests in 855 movie theatres with around 9,640 screens in 11 countries across the US and Europe. Revenue totaled approximately $4.9 billion for the twelve months ended December 31, 2025. The principal methodology used in these ratings was Business and Consumer Services published in February 2026. AMC's Caa2 corporate family rating is three notches below the scorecard-indicated outcome of B2. The difference primarily reflects the high risk of a continued distressed exchanges given the company's weak liquidity and history of using these transactions to manage debt obligations. OROVILLE HOSPITAL: Secures Chapter 11 Plan Filing Extension ----------------------------------------------------------- Alex Wittenberg of Law360 Bankruptcy Authority reports that A California bankruptcy judge on Tuesday approved an extension of Oroville Hospital’s exclusive right to file a Chapter 11 plan, allowing the medical center further time to craft its restructuring proposal. The ruling maintains the hospital’s lead position in the reorganization process. During the exclusivity period, no competing plans may be submitted by creditors or other stakeholders. The hospital is expected to continue negotiations aimed at developing a viable financial restructuring framework, the report states. The court determined that the extension would support progress in the case and facilitate ongoing discussions. Additional hearings may be scheduled as the bankruptcy case moves forward, according to Law360. 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. OUISI INCORPORATED: N. Wasserstein Named Subchapter V Trustee ------------------------------------------------------------- The U.S. Trustee for Region 2 appointed Nathaniel Wasserstein, Esq., at Lindenwood Associates, LLC as Subchapter V trustee for OuiSi Incorporated. Mr. Wasserstein will be paid an hourly fee of $550 for his services as Subchapter V trustee and will be reimbursed for work related expenses incurred. Mr. Wasserstein declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Nat Wasserstein, Esq. Lindenwood Associates, LLC 328 North Broadway, 2nd Floor Upper Nyack, New York 10960 Telephone: (845) 398-9825 Facsimile: (212) 208-4436 Email: nat@lindenwoodassociates.com About OuiSi Incorporated OuiSi Inc. produces visually connecting photo card sets based on shared patterns, shapes, and colors. The company offers OuiSi Original and OuiSi Nature photo cards, with sets that include photo cards and a guidebook containing games and activities. OuiSi serves use cases including children's play, adult play, solo play, two-player play, group play, and multigenerational play. The company is based in Stone Ridge, New York, and OuiSi Original launched in January 2020. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 26-35436) on April 24, 2026, with $91,691 in assets and $1,623,263 in liabilities. Paul Brillinger, chief executive officer, signed the petition. Judge Kyu Young Paek presides over the case. Justin S. Krell, Esq. at BOND, SCHOENECK & KING, PLLC represents the Debtor as legal counsel. PALM GREENS: Trustee Taps GlassRatner Advisory as Financial Advisor ------------------------------------------------------------------- Robert C. Furr, trustee of Palm Greens at Villa Del Ray Recreation Condominium Association, Inc., seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ GlassRatner Advisory & Capital Group, LLC as financial advisor. The firm will perform ordinary and necessary accounting services required in the administration of the estate, including but not limited to providing advice regarding tracing, potential avoidable transfers, financial and accounting issues, and evaluating tax issues. The firm will be at these rates: Alan Barbee, Sr. Managing Director $625 Jonathan Eargle $450 Managing & Sr. Managing Directors $475 to $695 Directors & Associate Directors $425 to $475 Associates and Senior Associates $275 to $375 GlassRatner Advisory & Capital Group, LLC is a "disinterested person" within the meaning of 11 U.S.C. 101(14), according to court filings. The firm can be reached through: Alan Barbee, CPA GlassRatner Advisory & Capital Group, LLC 1675 N. Military Trail, Suite 650 Boca Raton, FL 33486 Email: abarbee@glassratner.com About Palm Greens at Villa Del Ray Recreation Condominium Palm Greens at Villa Del Ray Recreation Condominium oversees recreational amenities and common property for a residential condominium community in Florida. The Debtor filed for protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-11060) on January 28, 2026, listing $10 million to $50 million in both assets and liabilities. Judge Erik P. Kimball oversees the case. The Debtor tapped the Law Office of Mark S. Roher, PA as counsel and PM Accounting Services LLC as accountant. PHOENIX FUND: Has Deal on Cash Collateral Access ------------------------------------------------ Driven, P.S.C., acting as court-appointed receiver and debtor-in-possession, and Acrecent Financial LLC, a secured creditor, advise the U.S. Bankruptcy Court for the District of Puerto Rico that they have reached an agreement regarding Phoenix Fund LLC's use of cash collateral and now desire to memorialize the terms of this agreement into an agreed order. The stipulation is designed to allow the receiver temporary access to certain funds -- specifically interest payments owed by Universal Insurance Company (UNICO) under a surplus note held by the Debtor's subsidiary -- while preserving Acrecent's claimed first-priority security interest in those funds. The parties acknowledge that these payments are property of the bankruptcy estate but also constitute Acrecent's cash collateral. Because the total amount owed under the surplus note exceeds the debt to Acrecent, the agreement contemplates that Acrecent will ultimately be paid in full from those proceeds, with any remaining excess proceeds(potentially up to $10 million) preserved for the benefit of the estate, subject to further court approval. Under the stipulation, the receiver is authorized to use a portion of the interest payments from the petition date through early August 2026 to cover necessary estate expenses, including professional fees, through a negotiated carve-out from Acrecent's collateral. In exchange, the receiver agrees to make specified monthly adequate protection payments to Acrecent (approximately $184,931 each for May, June, and July 2026), contingent on actually receiving sufficient funds from the interest payments. The agreement also requires that previously consigned funds held by the court and future payments from UNICO be released directly to the receiver for use in accordance with the stipulation. During this period, Acrecent agrees to forbear from enforcing its rights against the collateral, allowing time for the receiver to negotiate with UNICO and reconcile the exact amount owed to Acrecent under its loan documents. The stipulation preserves the receiver's ability to investigate and potentially challenge Acrecent's broader claims, liens, or loan balances, except for temporarily recognizing Acrecent's lien on the surplus note and related payments for purposes of this interim arrangement. A copy of the motion is available at https://urlcurt.com/u?l=ZquDYD from PacerMonitor.com. About The Phoenix Fund LLC The Phoenix Fund LLC is a Puerto Rico based private equity firm formed in 2018 and headquartered in Guaynabo, Puerto Rico. The company focuses on making strategic equity and debt investments in privately held businesses in Puerto Rico and international markets. Phoenix Fund LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.P.R. Case No. 26-00712) on February 23, 2026. Honorable Bankruptcy Judge Enrique S. Lamoutte Inclan handles the case. In its petition, the Debtor reports estimated assets between $500 million and $1 billion and estimated liabilities between $100 million and $500 million. The Debtor is represented by Alexis Fuentes Hernandez, Esq. of Fuentes Law Offices, LLC. Acrecent Financial, as secured creditor, is represented by: Brian K. Tester, Esq. Paul R. Cortés-Rexach, Esq. McCONNELL VALDÉS, LLC P.O. Box 364225 San Juan, PR 00936-4225 Tel. (787) 250-5638 bkt@mcvpr.com prcr@mcvpr.com Driven, P.S.C., as receiver, is represented by: Luis C. Marini-Biaggi, Esq. Ignacio J. Labarca-Morales, Esq. MARINI PIETRANTONI MUÑIZ LLC 250 Ponce De León Ave., Suite 900 San Juan, PR 00918 Tel.: 787.705.2171 Fax: 787.936.7494 lmarini@mpmlawpr.com ilabarca@mpmlawpr.com POINCIANA PERSONAL: Hires Juan Carlos Burgos Esq. as Counsel ------------------------------------------------------------ Poinciana Personal Care and Companion Services Corp. seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to hire Juan Carlos Burgos, Esq, as its counsel. The counsel will render these services: a. prosecute and defend any causes of action on behalf of the Debtor, prepare, on behalf of the Debtor, all necessary applications, motions, reports, and other legal papers; b. assist in the formulation of a plan of reorganization; and c. provide all other services of a legal nature. The counsel will bill its standard hourly rates which range from $450 to $150 per hour. The firm received an advance fee of $5,000 for post-petition services and expenses in connection with this case and the filing fee of $1,738. Juan Carlos Burgos, Esq. assured the court that he is a "disinterested person" within the meaning of 11 U.S.C. Sec. 101(14). The counsel can be reached at: Juan Carlos Burgos, Esq. PO BOX: 621885 Orlando, FL 32862 Telephone: (407) 505-4190 Facsimile: (407) 992-9477 Email: burgos@yourtrialattorney.net About Personal Care and Companion Services Corp. Poinciana Personal Care and Companion Services Corp is a Florida-based home health care provider headquartered in Kissimmee, Florida, offering personal care and companion services to individuals in residential settings. The company provides non-medical assistance with activities of daily living as well as supportive care services designed to help clients maintain independence at home. Incorporated in 2021, it operates as a for-profit corporation serving clients within the state of Florida. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-01350) on Feb. 27, 2026, with $148,523 in assets and $2,052,845 in liabilities. Hector Rodriguez, president and director, signed the petition. Judge Tiffany P. Geyer presides over the case. Juan Burgos, Esq., at the Law Offices of Juan C. Burgos, P.L. represents the Debtor as bankruptcy counsel. POWER MOVES: Hires Bradford Law Offices as Bankruptcy Counsel ------------------------------------------------------------- Power Moves Electric, LLC seek approval from the U.S. Bankruptcy Court for the Eastern District of North Carolina to hire Bradford Law Offices to handle its Chapter 11 case. The firm received retainer fees $15,000 for attorney's fees and $1,738 for the court filing fee. Danny Bradford, Esq., an attorney at Bradford Law Offices, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Danny Bradford, Esq. Bradford Law Offices 455 Swiftside Drive, #106 Cary, NC 27518-7198 Telephone: (919) 758-8879 Email: Dbradford@bradford-law.com About Power Moves Electric, LLC Power Moves Electric, LLC sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.C. Case No. 26-01843) on April 24, 2026, listing $100,001 to $500,000 in both assets and liabilities. Judge Joseph N Callaway presides over case. Danny Bradford, Esq. at Paul D. Bradford, PLLC represents the Debtor as counsel. PRECISION MANUFACTURING: Case Summary & 20 Unsecured Creditors -------------------------------------------------------------- Debtor: Precision Manufacturing Group, Inc. 2176 E. Laketon Ave. Muskegon, MI 49442 Business Description: Precision Manufacturing Group, Inc. provides fabricated metal and sheet metal product solutions in Muskegon, Michigan. The company's services include engineering and design, metal fabrication, laser cutting, bending, CNC milling and turning, welding, insert installation, and assembly solutions. It serves customers in industries such as furniture, industrial equipment, lighting, metal fabrication, and OEM. Chapter 11 Petition Date: May 4, 2026 Court: United States Bankruptcy Court Western District of Michigan Case No.: 26-01463 Judge: Hon. James W Boyd Debtor's Counsel: Steven M. Bylenga, Esq. CBH ATTORNEYS & COUNSELORS, PLLC Main Office 25 Division Avenue S., Suite 500 Grand Rapids, MI 49503 Tel: 616-608-3061 Fax: 616-719-3782 E-mail: nikki@chasebylenga.com Total Assets: $808,859 Total Liabilities: $3,574,679 The petition was signed by Scott Tilma as shareholder and CEO. A full-text copy of the petition, which includes a list of the Debtor's 20 largest unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/64CMVCY/Precision_Manufacturing_Group__miwbke-26-01463__0001.0.pdf?mcid=tGE4TAMA PROPHASE DIAGNOSTICS: Creditor Claims Ch. 11 Has No Real Progress ----------------------------------------------------------------- Ben Zigterman of Law360 Bankruptcy Authority reports that a creditor to three ProPhase Labs affiliates involved in COVID-19 testing has challenged the companies' bid to extend their exclusive plan filing period in Chapter 11, saying there has been no real progress in the cases. The creditor argued the request is not supported by meaningful restructuring developments. According to the filing, the debtors have failed to advance negotiations or present a clear path toward a confirmable plan. The creditor warned that extending exclusivity would only prolong the proceedings and limit opportunities for other parties to propose solutions. The objection asks the court to either deny the extension or open the process to competing plans. The court must weigh whether the debtors have met the legal standard for maintaining exclusivity, the report states. About ProPhase Diagnostics NJ Inc. ProPhase Diagnostics NJ Inc. develops genomic testing solutions, potential cancer diagnostics and therapeutics, and manufactures and markets consumer health and wellness products. The subsidiaries operate within the diagnostics segment, providing laboratory testing services that were primarily focused on COVID 19 during the pandemic and are now engaged in efforts to recover large insurance receivables tied to those operations. ProPhase Diagnostics NJ Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 25-19833) on September 22, 2025. In its petition, the Debtor reports estimated assets of $32,287,616 and estimated liabilities of $465,161. Honorable Bankruptcy Judge Christine M. Gravelle handles the case. The Debtor is represented by Thaddeus R. Maciag, Esq. at MACIAG LAW, LLC. About ProPhase Labs Inc. ProPhase Labs Inc. (Nasdaq: PRPH) is a next-generation biotech, genomics and consumer products company. Its mission is to build a healthier world through bold innovation and actionable insight. It is revolutionizing healthcare with industry-leading Whole Genome Sequencing solutions, groundbreaking diagnostic development, such as our potentially life-saving test for the early detection of esophageal cancer, and a world class direct-to-consumer marketing platform for cutting edge OTC dietary supplements. ProPhase develops, manufacture, and commercialize health and wellness solutions to enable people to live their best lives. It is committed to executional excellence, smart diversification, and a synergistic, omni-channel approach. ProPhase Labs' valuable subsidiaries, their synergies, and significant growth underscore its potential for long-term value. PURDUE PHARMA: Gets Court OK for $125MM Deal with McKinsey & Co. ---------------------------------------------------------------- Angelica Serrano-Roman of Bloomberg Law reports that a US bankruptcy court has approved Purdue Pharma's $125 million settlement with McKinsey & Co., resolving allegations that the consulting firm played a role in shaping the marketing strategy for the company's opioid products. The deal is part of ongoing efforts to resolve claims linked to the opioid epidemic. Judge Sean H. Lane of the US Bankruptcy Court for the Southern District of New York approved the agreement at a Thursday, April 30, 2026, hearing, determining that it represents a fair compromise among the parties. The ruling clears another hurdle in Purdue's Chapter 11 proceedings, the report states. McKinsey will contribute the settlement funds to a trust created under Purdue's broader $7.4 billion bankruptcy plan, which aims to compensate creditors and victims. That plan was previously approved by the court in November, according to Bloomberg. About Purdue Pharma LP Purdue Pharma L.P. and its subsidiaries --http://www.purduepharma.com/-- develop and provide prescription medicines and consumer products that meet the evolving needs ofhealthcare professionals, patients, consumers and caregivers. Purdue's subsidiaries include Adlon Therapeutics L.P., focused on treatment for Attention-Deficit/Hyperactivity Disorder (ADHD) andrelated disorders; Avrio Health L.P., a consumer health products company that champions an improved quality of life for people in the United States through the re-imagining of innovative product solutions; Imbrium Therapeutics L.P., established to further advance the emerging portfolio and develop the pipeline in the areas of CNS, non-opioid pain medicines, and select oncology through internal research, strategic collaborations and partnerships; and Greenfield Bioventures L.P., an investment vehicle focused on value-inflection in early stages of clinical development. Opioid makers in the U.S. are facing pressure from a crackdown on the addictive drug in the wake of the opioid crisis and as state attorneys general file lawsuits against manufacturers. More than 2,000 states, counties, municipalities and Native American governments have sued Purdue Pharma and other pharmaceutical companies for their role in the opioid crisis in the U.S., which has contributed to the more than 700,000 drug overdose deaths in the U.S. since 1999. OxyContin, Purdue Pharma's most prominent pain medication, has been the target of over 2,600 civil actions pending in various state and federal courts and other fora across the United States and its territories. On Sept. 15 and 16, 2019, Purdue Pharma L.P. and 23 affiliated debtors each filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 19 23649), after reaching terms of a preliminary agreement for settling the massive opioid litigation. The Debtors' consolidated balance sheet as of Aug. 31, 2019, showed $1.972 billion in assets and $562 million in liabilities. U.S. Bankruptcy Judge Robert Drain oversees the cases. The Debtors tapped Davis Polk & Wardwell, LLP and Dechert, LLP, as legal counsels; PJT Partners as investment banker; AlixPartners as financial advisor; and Grant Thornton, LLP as tax structuring consultant. Prime Clerk, LLC, is the claims agent. Akin Gump Strauss Hauer & Feld LLP and Bayard, P.A., represent the official committee of unsecured creditors appointed in the Debtors' bankruptcy cases. David M. Klauder, Esq., is the fee examiner appointed in the Debtors' cases. The fee examiner is represented by Bielli & Klauder, LLC. * * * U.S. Bankruptcy Judge Robert Drain in early September 2021 approved a plan to turn Purdue into a new company (Knoa Pharma LLC) no longer owned by members of the Sackler family, with its profits going to fight the opioid epidemic. The Sackler family agreed to pay $4.3 billion over nine years to the states and private plaintiffs and in exchange for a lifetime legal immunity. The deal resolves some 3,000 lawsuits filed by state and local governments, Native American tribes, unions, hospitals, and others who claimed the company's marketing of prescription opioids helped spark and continue an overdose epidemic. Separate appeals to approval of the Plan have already been filed by the U.S. Bankruptcy Trustee, California, Connecticut, the District of Columbia, Maryland, Rhode Island and Washington state, plus some Canadian local governments and other Canadian entities. In early March 2022, Purdue Pharma reached a nationwide settlement over its role in the opioid crisis, with the Sackler family members boosting their cash contribution to as much as $6 billion. The settlement was hammered out with attorneys general from the eight states -- California, Connecticut, Delaware, Maryland, Oregon, Rhode Island, Vermont and Washington -- and D.C. who had opposed the previous settlement. QVC GROUP: Opposes Shareholders' Equity Committee Creation Bid -------------------------------------------------------------- Alex Wittenberg of Law360 reports that QVC on Friday, May 1, 2026, urged a Texas bankruptcy judge to reject shareholders’ push for the appointment of an official equity committee, saying the move would drain estate resources for the sole benefit of equity investors. The company maintained that shareholders are unlikely to receive any recovery under the current restructuring outlook. The retailer argued that creditor groups are already providing sufficient oversight and participation in the case, rendering an equity committee redundant. It warned that adding another layer of representation would increase professional fees and complicate the restructuring process. Investors seeking the committee say it would give them a voice in negotiations and help evaluate the company's financial projections. The judge must now determine whether equity holders' interests warrant the additional expense in the Chapter 11 case, the report states. About QVC Group QVC Group, Inc., formerly known as Qurate Retail, Inc. -- https://www.qvcgrp.com/ -- owns interests in subsidiaries and other companies which are primarily engaged in the video and online commerce industries. Through its subsidiaries and affiliates, the Company operates in North America, Europe and Asia. Its principal businesses and assets include its consolidated subsidiaries QVC, Inc., Cornerstone Brands, Inc., and other cost method investments. QVC Group sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90447) on April 16, 2026. In its petition, the Debtor reports more than $1 billion in assets and estimated liabilities of $6.6 billion. Honorable Bankruptcy Judge Alfredo R. Perez handles the case. The Debtor is represented by Jason S. Brookner, Esq. and Lydia R. Webb of Gray Reed & McGraw LLP. RED RIVER: J&J Faces Allegations of Hiding Talc Risks at LA Trial ----------------------------------------------------------------- Craig Clough of Law360 reports that a California jury heard opening arguments Monday alleging that Johnson & Johnson concealed the presence of asbestos in its baby powder for decades, despite marketing the product as safe and "pure." The claims were made by attorneys representing families of three women who died from ovarian cancer in a bellwether trial. Plaintiffs' attorneys said they will present evidence showing the company had long-standing knowledge of contamination risks but chose not to warn the public. They argue that this failure contributed to the development of cancer among consumers who used the product regularly. Johnson & Johnson has pushed back, denying that its talc contained asbestos and defending the safety of its products. The trial is expected to hinge on competing scientific evidence and expert testimony, with broader implications for ongoing litigation tied to talc claims, the report states. About J&J Talc Units LLT Management, LLC (formerly known as LTL Management LLC) was a subsidiary of Johnson & Johnson that was formed to manage and defend thousands of talc-related claims and oversee the operations of Royalty A&M. Royalty A&M owns a portfolio of royalty revenue streams, including royalty revenue streams based on third-party sales of LACTAID, MYLANTA/MYLICON and ROGAINE products. LTL Management first filed a petition for Chapter 11 protection (Bankr. W.D.N.C. Case No. 21-30589) on Oct. 14, 2021. The case was transferred to New Jersey (Bankr. D.N.J. Case No. 21-30589) on Nov. 16, 2021. The Hon. Michael B. Kaplan is the case judge. At the time of the filing, the Debtor was estimated to have $1 billion to $10 billion in both assets and liabilities. In the 2021 case, LTL Management tapped Jones Day and Rayburn Cooper & Durham, P.A., as bankruptcy counsel; King & Spalding, LLP and Shook, Hardy & Bacon LLP as special counsel; McCarter & English, LLP as litigation consultant; Bates White, LLC as financial consultant; and AlixPartners, LLP as restructuring advisor. Epiq Corporate Restructuring, LLC, served as the claims agent. On Dec. 24, 2021, the U.S. Trustee for Regions 3 and 9 reconstituted the talc claimants' committee and appointed two separate committees: (i) the official committee of talc claimants I, which represents ovarian cancer claimants, and (ii) the official committee of talc claimants II, which represents mesothelioma claimants. The official committee of talc claimants I tapped Genova Burns LLC, Brown Rudnick LLP, Otterbourg PC and Parkins Lee & Rubio LLP as its legal counsel. Meanwhile, the official committee of talc claimants II is represented by the law firms of Cooley LLP, Bailey Glasser LLP, Waldrep Wall Babcock & Bailey PLLC, Massey & Gail LLP, and Sherman Silverstein Kohl Rose & Podolsky P.A. Re-Filing of Chapter 11 Petition On Jan. 30, 2023, a panel of the Third Circuit issued an opinion directing this Court to dismiss the 2021 Chapter 11 Case on the basis that it was not filed in good faith. Although the Third Circuit panel recognized that the Debtor "inherited massive liabilities" and faced "thousands" of future claims, it concluded that the Debtor was not in financial distress before the filing. On March 22, 2023, the Third Circuit entered an order denying the Debtor's petition for rehearing. The Third Circuit entered an order denying LTL's stay motion on March 31, 2023, and, on the dame day,issued its mandate directing the Bankruptcy Court to dismiss the 2021 Chapter 11 Case. The Bankruptcy Court entered an order dismissing the 2021 Case on April 4, 2023. Johnson & Johnson on April 4, 2023, announced that its subsidiary LTL Management LLC (LTL) has re-filed for voluntary Chapter 11 bankruptcy protection (Bankr. D.N.J. Case No. 23-12825) to obtain approval of a reorganization plan that will equitably and efficiently resolve all claims arising from cosmetic talc litigation against the Company and its affiliates in North America. In the new filing, J&J said it has agreed to contribute up to a present value of $8.9 billion, payable over 25 years, to resolve all the current and future talc claims, which is an increase of $6.9 billion over the $2 billion previously committed in connection with LTL's initial bankruptcy filing in October 2021. LTL also has secured commitments from over 60,000 current claimants to support a global resolution on these terms. In August 2023, U.S. Bankruptcy Judge Michael Kaplan in Trenton, New Jersey, ruled that the second bankruptcy case should be dismissed. 3rd Try In May 2024, J&J announced its subsidiary LLT Management LLC is soliciting support for a consensual prepackaged bankruptcy plan to resolve its talc-related liabilities. Under the terms of the plan, a trust would be funded with over $5.4 billion in the first three years and more than $8 billion over the course of 25 years, which J&J calculates to have a net present value of $6.475 billion. If the Plan is accepted by at least 75% of voters, a bankruptcy was to be filed under the case name In re Red River Talc LLC. Epiq Corporate Restructuring, LLC is serving as balloting and solicitation agent for LLT. On Sept. 20, 2024, Red River Talc LLC filed a Chapter 11 bankruptcy petition (Bankr. S.D. Tex. Case No. 24-90505). Porter Hedges LLP and Jones Day serve as counsel in the new Chapter 11 case. Epiq is the claims agent. Paul Hastings LLP is counsel to the Ad Hoc Committee of Supporting Counsel. Randi S. Ellis is the proposed prepetition legal representative of future claimants. ROGER HARVEY BLACK: Court Upholds Dismissal of Bankruptcy Case -------------------------------------------------------------- Judge Elizabeth L. Gunn of the U.S. Bankruptcy Court for the District of Columbia denied the cross motions for reconsideration with respect to the order dismissing Roger Harvey Black's bankruptcy case. On January 14, 2026, the Court held a hearing (the "Reconsideration Hearing") on (1) the Second Motion for Reconsideration (the "Welch Motion") filed by Welch Family Limited Partnership Five1 ("Welch Five"), Welch Family Limited Partnership Sixteen ("Welch Sixteen"), and Welch Family Limited Partnership Seventeen ("Welch Seventeen") (collectively, the "Petitioning Creditors"). The Welch Motion asks the Court to reconsider, under Bankruptcy Rule 9023, the Order Dismissing Involuntary Petition and Reserving Jurisdiction to Consider Issues Raised Pursuant to 11 U.S.C. Sec. 303(i) and Sec. 362(k) (the "Dismissal Order") and the underlying oral ruling on December 17, 2025. The Black Motion, on the other hand, asks the Court to alter or amend portions of the Dismissal Order. The Welch Motion primarily asks the Court to reconsider its finding that the post-petition garnishment actions taken by Welch Sixteen and Welch Seventeen constituted a voidable postpetition transfer under Sec. 549, making both Welch Sixteen and Welch Seventeen ineligible petitioning creditors under Sec. 303(b)(2). The Black Motion asks for reconsideration of the Court's determination of the number of creditors who qualified as holders of eligible claims under Sec. 303(b) -- asserting that the number should be greater than or equal to 12. The Welch Motion is denied as it does not establish any basis for the Court to reconsider its ruling as to the eligibility of Welch Sixteen and Welch Seventeen as petitioning creditors as a result of their post-petition actions against the Alleged Debtor. Given the lack of any qualifying petitioning creditors, the total number of "holders of such claims" is moot. Therefore, the Court does not need to address whether the Black Motion adequately establishes grounds for reconsideration nor the merits thereof. The Court finds that the Petitioning Creditors failed to meet their burden under Bankruptcy Rule 9023 to establish that reconsideration of the Dismissal Order is necessary. Because the Court does not reconsider the finding that there are no valid petitioning creditors, the relief requested in the Black Motion is moot and the Court does need not reach its merits. A copy of the Court's Order dated May 1, 2026, is available at https://urlcurt.com/u?l=5HfWo5 from PacerMonitor.com Roger Harvey Black filed for Chapter 11 bankruptcy protection (Bankr. D.D.C. Case No. 25-00260) on July 7, 2025, listing under $1 million in both assets and liabilities. The Debtor is represented by Jeffery Martin, Esq. ROSE MECHANICAL: Case Summary & 20 Largest Unsecured Creditors -------------------------------------------------------------- Debtor: Rose Mechanical Corp. 1565 Ocean Ave Bohemia, NY 11716 Business Description: Rose Mechanical Corp. provides heating, ventilation, and air-conditioning services in Bohemia, New York. The company offers HVAC service and installation, as well as control systems design, supporting customers with mechanical contracting and related building systems needs. Chapter 11 Petition Date: May 4, 2026 Court: United States Bankruptcy Court Eastern District of New York Case No.: 26-71752 Judge: Hon. Sheryl P Giugliano Debtor's Counsel: Alex E. Tsionis, Esq. ROSEN, TSIONIS & PIZZO, PLLC 38 New St. Huntington, NY 11743-3327 Tel: 631-423-8527 Fax: 631-423-4536 E-mail: atsionis@ajrlawny.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Anthony Taormina as president. A full-text copy of the petition, which includes a list of the Debtor's 20 largest unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/TQE7FJI/Rose_Mechanical_Corp__nyebke-26-71752__0001.0.pdf?mcid=tGE4TAMA RUNITONETIME LLC: To Shutdown Seatac Casino after Chapter 11 ------------------------------------------------------------ The Eastern Herald reports that Maverick Gaming is closing its Silver Dollar SeaTac Casino and laying off 65 workers, continuing a wave of downsizing following its Chapter 11 bankruptcy filing last year. The closure, effective June 30, 2026 affects employees across multiple roles including dealers, kitchen staff, cashiers, and security workers. The casino, positioned near a major airport corridor, had been on a delayed closure timeline after a failed effort to secure a buyer, the report states. The SeaTac shutdown is part of a broader retrenchment that began after the company filed bankruptcy in July 2025 through RunItOneTime LLC. Since then, Maverick has closed several Washington cardrooms as regulatory and competitive pressures mounted, according to The Eastern Herald. The company continues to operate other properties while navigating bankruptcy proceedings, though its asset base has steadily contracted through court-approved sales and closures, the report relays. About RunItOneTime LLC RunItOneTime LLC, formerly known as Maverick Gaming LLC, headquartered in Kirkland, Washington, is a regional casino and cardroom operator across Washington State, Nevada, and Colorado. The company operates a portfolio of 31 properties, with 1,800 slot machines, 350 table games, 1,020 hotel rooms, and 30 restaurants. Maverick was founded in 2017 by Eric Persson and Justin Beltram, who hold over 70% ownership in the company. RunItOneTime LLC and 67 affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90191) on July 14, 2025. In its petition, RunItOneTime estimated assets and liabilities between $100 million and $500 million each. Judge Alfredo R. Perez oversees the cases. The Debtors tapped Latham & Watkins LLP as counsel; and Hunton Andrews Kurth LLP, as bankruptcy co-counsel. The Debtors also engaged GLC Advisors & Co., LLC and GLC Securities, LLC, as investment banker, and Triple P TRS, LLC as financial advisor. The Debtors' tax advisor is KPMG LLP. S&P TRUCKING: Matthew Grimshaw Named Subchapter V Trustee --------------------------------------------------------- The Acting U.S. Trustee for Region 18 appointed Matthew Grimshaw as Subchapter V trustee for S&P Trucking LLC. Mr. Grimshaw 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. Grimshaw declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Matthew W. Grimshaw 800 W. Main Street, Ste 1460 Boise, ID 83702 O. (208) 391-7860 Email: matt@grimshawlawgroup.com About S&P Trucking LLC S&P Trucking LLC is a Mountain Home, Idaho-based interstate freight carrier that provides truckload transportation services, including hauling grain, feed, hay and dry bulk commodities. The company, incorporated in 2011, operates as an authorized property carrier serving shippers requiring regional and interstate freight transportation. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Idaho Case No. 26-00359) on April 27, 2026, with $1,482,225 in assets and $2,009,996 in liabilities. Samuel Lewis Adams, owner, signed the petition. Judge Noah G. Hillen presides over the case. Patrick J. Geile, Esq. at FOLEY FREEMAN, PLLC represents the Debtor as legal counsel. SAILORMEN INC: Taps STNL Advisors LLC as Real Estate Consultant --------------------------------------------------------------- Sailormen Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to hire Matthew Anuszkiewicz and STNL Advisors LLC d/b/a Surmont as real estate consultants. The firm will provide lease negotiation and renegotiation services. The firm will receive compensation at these fees: i. Lease Restructuring Fee: An amount equal to 8.0% of any Rental Savings and Capital Contributions achieved in the amendment or modification of each Lease, inclusive of any savings to be recognized by Client during any renewal term of such Lease, not to exceed an aggregate lease term of 10 years. Rental Savings and Capital Contributions shall be defined as any monetary benefit to Client and monetary benefit shall include but not be limited to any rental reduction, rental abatement, rental credit, capital improvement credit, and capital improvement contribution made by Landlord. Fee shall be earned only upon successful execution of a lease amendment or modification by Client. All Lease Restructuring Fees shall be paid to Consultant within 30 days of execution of any amendment or modification of such Lease. ii. Lease Extension Fee: An amount equal to 2.0% of the aggregate rent of the additional Lease term achieved in the amendment or modification of each Lease, not to exceed an aggregate Lease term of 10 additional lease years. Fee shall be earned only upon successful execution of a Lease amendment and/or Lease modification by Client. All Lease Term Extension Fees shall be paid to Consultant within 30 business days of execution of any amendment or modification of such Lease; No Lease Term Extension Fee shall be earned or paid to Consultant for Lease extensions or option exercises currently available to Client and reflected in Client's Leases and/or amendments thereto. iii. There shall be no duplication in the payment of Lease Restructuring Fees or Lease Term Extension Fees. Client shall pay Consultant whichever fee equates to the greater aggregate amount. As disclosed in the court filings, STNL Advisors LLC is a "disinterested person" within the meaning of 11 U.S.C. Sec. 101(14). The firm can be reached through: Matthew Anuszkiewic STNL Advisors LLC 1185 Avenue of the Americas, 30th Floor New York, NY 10036 Mobile: (914) 403-7574 Email: manuszkiewicz@surmount.com About Sailormen Inc. Sailormen Inc. is a leading franchisee of Popeyes Louisiana Kitchen restaurants. Sailormen Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-10451) on January 15, 2026. In its petition, the Debtor reports estimated assets between $100 million and $500 million and $342 million in liabilities. Honorable Bankruptcy Judge Robert A. Mark handles the case. The Debtor is represented by Bradley S. Shraiberg, Esq. SANDY HOOK: Case Summary & Four Unsecured Creditors --------------------------------------------------- Debtor: Sandy Hook Investments, LLC 7710 Banyan Terrace Fort Lauderdale, FL 33321 Business Description: Sandy Hook Investments, LLC is a real estate investment company that owns fee simple interests in properties located in Coral Springs, Tamarac, and Lake City, Florida, as well as Fairburn, Georgia. The company's portfolio includes parcels at 7515 NW 41st Street, 7614 NW 68th Way, 433 NW DeSoto Street, and 6600 St. Jude Drive. Its stated current property value totals approximately $1.27 million. Chapter 11 Petition Date: May 4 2026 Court: United States Bankruptcy Court Southern District of Florida Case No.: 26-15777 Judge: Hon. Scott M. Grossman Debtor's Counsel: Adam I. Skolnik, Esq. LAW OFFICE OF ADAM I. SKOLNIK, PA 1761 West Hillsboro Boulevard Suite 207 Deerfield Beach, FL 33442 Tel: 561-265-1120 E-mail: askolnik@skolniklawpa.com Total Assets: $1,284,298 Total Liabilities: $806,001 The petition was signed by John Kevin Kemp as authorized member. A full-text copy of the petition, which includes a list of the Debtor's four unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/WQBUGRI/Sandy_Hook_Investments_LLC__flsbke-26-15777__0001.0.pdf?mcid=tGE4TAMA SENTIENT BRANDS: Names Knazev Acting Principal Executive Officer ---------------------------------------------------------------- Sentient Brands Holdings Inc. designated President and Chief Operating Officer Serge Knazev as acting principal executive officer effective May 1, according to a filing with the Securities and Exchange Commission. The designation followed George Furlan's resignation as interim chief executive officer and director, effective April 24. The company said it received Furlan's written notice April 29 and the board accepted the resignation May 1. Furlan's resignation did not result from any disagreement with the company on its operations, policies or practices, Sentient Brands said. The company added it is reviewing compensation that may be owed to Furlan for the year ended Dec. 31, 2025, and the quarter ended March 31, 2026. It had not entered into a separation, severance, release or other settlement agreement with him as of the filing date. Following the resignation, the board consists of Eric Bruns, who serves as chairman, and Dionne Harvey Pendleton. The board intends to consider appointing a new director and is searching for a permanent or interim chief executive officer. Knazev will serve as acting principal executive officer for purposes of Sections 302 and 906 of the Sarbanes-Oxley Act and related rules, including execution of required certifications and attestations, until a new chief executive officer is appointed. About Sentient Brands Sentient Brands Holdings Inc. is a Sheridan, Wyoming-based Nevada company operating as a brand platform focused on the acquisition, development and commercialization of premium and functional consumer packaged goods with an emphasis on wellness, sustainability and emergency preparedness. Its operating subsidiaries include AIG-F&B, Inc., a manufacturing and distribution platform for food, beverage and wellness products, and Aqua Emergency, Inc., a specialized manufacturer and distributor of emergency water and meals-ready-to-eat products. In an audit report dated April 15, 2026, Cathedral CPAs & Advisors, LLP included a going concern qualification, stating that the company had suffered recurring losses from operations and had a net capital deficiency. The conditions raised substantial doubt about the company's ability to continue as a going concern. As of Dec. 31, 2025, the company reported total assets of $2.59 million, total liabilities of $4.70 million and total stockholders' deficit of $2.11 million. SG ECHO: Seeks Approval to Hire Phillips Murrah P.C. as Attorney ---------------------------------------------------------------- SG Echo, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of Oklahoma to hire Phillips Murrah P.C. as attorneys. The firm will render these services: a. render legal advice regarding the powers and duties of debtors that continue to operate their business as debtors in possession; b. take all necessary action to protect and preserve the Debtor's estate, including the prosecution of actions on the Debtor's behalf, the defense of any actions commenced against the Debtor, the negotiation of disputes in which the Debtor is involved, and the preparation of objections to claims filed against the Debtor's estate; c. prepare on behalf of the Debtor, as a debtor in possession, all necessary motions, applications, answers, orders, reports, and other papers in connection with the administration of the Debtor's estate and appear on the Debtor's behalf at all hearings regarding the Debtor's case; d. negotiate, prepare, and file requests for the sale of assets of the Debtor's estate; e. negotiate, prepare, and file a plan of reorganization and related disclosure statements and all related documents, and otherwise promote the financial rehabilitation of the Debtor; and f. perform all other necessary legal services in connection with the prosecution of this Chapter 11 case. Phillips Murrah's current hourly rates are: Clayton D. Ketter, Director $475 Jason A. Sansone, Of Counsel $450 Maribeth D. Mills $185 (Certified Bankruptcy Assistant) The firm will seek reimbursement of out-of-pocket expenses. Phillips Murrah is a "disinterested person" as that term is defined in Bankruptcy Code section 101(14) and modified by Bankruptcy Code section 1107(b), according to court filings. The firm can be reached through: Clayton D. Ketter, OBA No. 30611 Jason A. Sansone, OBA No. 30913 PHILLIPS MURRAH P.C. 424 N.W. 10th St., Suite 300 Oklahoma City, OK 73103 Tel: (405) 235-4100 Fax: (405) 235-4133 Email: cdketter@phillipsmurrah.com Email: jasansone@phillipsmurrah.com About SG Echo, LLC SG Echo, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Okla. Case No. 26-80385) on April 28, 2026, listing $1,000,001 to $10 million in both assets and liabilities. Jason Anthony Sansone, Esq. at Phillips Murrah P.C. serves as the Debtor's counsel. SHADY TREE: Seeks to Hire Michael Jay Berger as Bankruptcy Counsel ------------------------------------------------------------------ Shady Tree LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of California to hire the Law Offices of Michael Jay Berger as general bankruptcy counsel. The firm's services include: (a) representing the Debtor in Chapter 11 proceedings and advising of its legal rights and remedies; (b) negotiating with attorneys for unsecured creditors; (c) negotiating with creditors; (d) representing Debtor at related hearings; (e) assisting Debtor in complying with Office of the United States Trustee rules and regulations; (f) assisting in paperwork preparation to continue and conclude this chapter 11 proceeding; (g) responding to creditor inquiries; (h) reviewing proofs of claims filed in this bankruptcy proceeding; (i) preparing Notices of Automatic Stay in all State Court proceedings in which Debtor is sued during pendency of the bankruptcy; (j) responding to Motions filed in Debtor's bankruptcy; and (k) objecting to inappropriate claims and prepare the Plan of Reorganization. The firm's attorneys will be paid at these hourly rates: Michael Jay Berger $695 Sofya Davtyan $645 Kevin Ronk $595 Laura Portillo $595 Robert Poteete $475 The services of bankruptcy senior paralegals and law clerks will be billed at $275/hr. and bankruptcy paralegals at $200/hr. The firm will receive a retainer in the amount of $25,000 and the $1,738 filing fee. The Law Offices of Michael Jay Berger is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached at: Michael Jay Berger, Esq. Sofya Davtyan, Esq. LAW OFFICES OF MICHAEL JAY BERGER 9454 Wilshire Blvd. 6th Floor Beverly Hills, CA 90212-2929 Telephone: (310) 271-6223 Facsimile: (310) 271-9805 E-mail: Michael.Berger@bankruptcypower.com Sofya.Davtyan@bankruptcypower.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. SIEMPRE NUNCA: Taps Glenn Carl James Law Offices as Special Counsel ------------------------------------------------------------------- Siempre Nunca, LLC seeks approval from the U.S. Bankruptcy Court for the District of Puerto Rico to hire Glenn Carl James Law Offices as special counsel. The firm will continue the prosecution of a cause of action against Automated Cutting System LLC dba Shopsaber CNC, before the United States District Court for the District of Puerto Rico, case no. 24-01184. The firm will be paid on a contingency fee basis. The firm will seek reimbursement of costs and expenses. Glenn Carl James Law Offices is a "disinterested person" within the meaning of 11 U.S.C. Sec. 101(14), according to court filings. The firm can be reached through: Glenn Carl James, Esq. Glenn Carl James Law Offices 605 Ave. Condado, Ofic. 518 Edif. San Alberto San Juan, PR 00907 Phone: (787) 616-2885 About Siempre Nunca, LLC Siempre Nunca, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D.P.R. Case No. 26-01040) on March 11, 2026, listing $500,001 to $1 million in assets and $100,001 to $500,000 in liabilities. Judge Enrique S Lamoutte Inclan presides over the case. Javier Vilarino, Esq. at Vilarino & Associates LLC serves as the Debtor's counsel. SPARHAWK LLC: Appointment of Chapter 11 Trustee OK'd ---------------------------------------------------- Judge Catherine Furay of the U.S. Bankruptcy Court for the Western District of Wisconsin approved the appointment of Matthew Brash as Chapter 11 trustee for Sparhawk, LLC and affiliated debtors. Mr. Brash is a senior managing director at Newpoint Advisors Corporation and lead professional of Newpoint's TRAIL (Trustee, Receivership, Assignee, Interim Management, Liquidation) In a court filing, Mr. Brash disclosed that he is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code. Mr. Brash was appointed on April 26 by the Office of the U.S. Trustee for Region 11, the Justice Department's bankruptcy watchdog overseeing the Debtors' bankruptcy cases. The appointment followed a court order granting WoodTrust Bank's bid to appoint an independent trustee to take over the cases. WoodTrust Bank accused Mark Sparhawk, the official controlling the Debtors, of pre-bankruptcy misconduct, citing improper management of the bank's collateral, unauthorized bank account, and unauthorized use of receivership funds to pay personal obligations. As of the petition date, all Debtors owed more than $10.3 million to WoodTrust Bank. About Sparhawk LLC Sparhawk LLC and affiliated entities -- Sparhawk Trucking, Inc., Sparhawk Properties, LLC; and Sparhaw Truck and Trailer, Inc. -- support trucking operations, equipment management and property holdings related to the group's transportation activities. Founded in 1981, the Sparhawk group operates within the general freight trucking industry in the United States. Sparhawk and its affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Wisc. Lead Case No.26-10527) on March 13, 2026. In the petition signed by Mark A. Sparhawk, sole member, Sparhawk disclosed up to $10 million in both assets and liabilities. Judge Catherine J Furay oversees the cases. Jerome R. Kerkman, Esq., and Nicholas W. Kerkman, Esq., at Kerkman & Dunn, represent the Debtors as legal counsel. SPIRIT AIRLINES: Court Agrees to OK Chapter 11 Wind Down Process ---------------------------------------------------------------- Clara Geoghegan of Law360 Bankruptcy Authority reports that a New York bankruptcy judge has agreed to approve Spirit Airlines' wind-down requests after the low-cost carrier failed to secure federal rescue financing and struggled under mounting fuel costs. The approval clears the way for the airline to formally begin liquidating its operations. During the proceedings, Spirit said it exhausted efforts to obtain the liquidity needed to remain operational. The company blamed worsening financial conditions and unsuccessful bailout talks for forcing the shutdown. The court-authorized wind-down measures will allow the airline to manage remaining obligations and oversee the disposition of assets as it moves through bankruptcy. Spirit's flights remain suspended as the restructuring case shifts into liquidation mode, 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. SPIRIT AIRLINES: Halts Operations as Emergency Funding Plan Fails ----------------------------------------------------------------- John Blakeley of Law360 reports that Spirit Airlines on Saturday, May 2, 2026, confirmed it is shutting down and entering liquidation after failing to obtain the funding necessary to keep operating under bankruptcy protection. The company said it was unable to secure a financial lifeline to support continued operations. Without access to additional capital, Spirit determined it could not meet its obligations or maintain flight services. The airline will now wind down its business, including canceling routes and liquidating assets to address creditor claims, the report states. The shutdown signals a dramatic end for a major discount airline and reflects broader financial pressures in the aviation sector. The liquidation process will unfold in bankruptcy court, where creditors will seek to recover outstanding debts, according to report. 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. SPIRIT AVIATION: Ceases Operations After Govt. Bailout Plan Fails ----------------------------------------------------------------- Allyson Versprille of Bloomberg Law reports that Spirit Aviation Holdings Inc. is winding down after a failed government bailout effort and sustained financial pressure tied to rising fuel costs forced the discount carrier to cease operations. The company said its liquidity position deteriorated beyond recovery. All scheduled flights have been canceled, with passengers told to stay away from airports after Spirit was unable to reach an agreement for financial support with the Trump administration. The collapse of talks led to an immediate operational shutdown, the report relays. In a statement Saturday, May 2, 2026, CEO Dave Davis said the airline needed hundreds of millions of dollars in additional liquidity to continue operating. He said that funding was not available and could not be secured from external sources. Davis added that Spirit had reached the limits of its financing options, leaving the company with no alternative but to wind down its business. About Spirit Aviation Holdings Inc. Spirit Aviation Holdings, Inc. and its subsidiaries operate Spirit Airlines, a U.S.-based low-cost carrier providing air transportation services across the United States, Latin America, and the Caribbean. They employ approximately 25,000 direct employees and independent contractors. Spirit Aviation Holdings and its subsidiaries sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. N.Y. Lead Case No. 25-11897) on August 29, 2025. In the petition signed by Frederick Cromer, authorized signatory, Spirit Aviation Holdings disclosed $8,576,287,000 in assets and $8,096,842,000 in liabilities as of June 30, 2025. Judge Sean H. Lane oversees the cases. The Debtors tapped Davis Polk & Wardwell, LLP as bankruptcy counsel; PJT Partners LP as investment banker; FTI Consulting, Inc. as restructuring, fleet and communications advisor; Debevoise & Plimpton, LLP as fleet counsel; Morris, Nichols, Arsht & Tunnell, LLP as conflicts counsel, and Ernst & Young, LLP as its audit and tax services provider. Epiq Corporate Restructuring, LLC is the claims, noticing, solicitation and administrative agent. The U.S. Trustee for Region 2 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The committee tapped Willkie Farr & Gallagher, LLP as legal counsel; Alton Aviation Consultancy, LLC as specialized aviation advisor; Jefferies. LLC as investment banker; and AlixPartners, LLP as financial advisor. SQA MAHADEV: Seeks to Hire John E. Dunlap as Bankruptcy Counsel --------------------------------------------------------------- SQA Mahadev, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Tennessee to hire John Dunlap, Esq., an attorney practicing in Memphis, Ten., to handle its Chapter 11 case. The counsel will render these services: a. take all necessary action to protect and preserve the debtor's interest; b. prepare on behalf of the debtor all motions, applications, answers, orders, reports and paper necessary to the administration of the cases; c. negotiate and prepare on the debtor's behalf all related documents and take any necessary action on behalf of the debtor; and d. perform all other necessary and legal services and provide all other necessary and legal advise to the debtor. The counsel will be paid at his hourly rate of $280. Mr. Dunlap disclosed in a court filing that he is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The attorney can be reached at: John E. Dunlap, Esq. 3333 Poplar Memphis, TN 38111 Telephone: (901) 320-1603 Facsimile: (901) 320-6914 Email: jdunlap00@gmail.com About SQA Mahadev LLC SQA Mahadev, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tenn. Case No. 26-21282) on March 6, 2026, with between $1 million and $10 million in both assets and liabilities. The Honorable Bankruptcy Judge Denise E. Barnett handles the case. The Debtor is represented by John Edward Dunlap, Esq., at The Law Office of John E. Dunlap. State Bank of Texas, as lender, is represented by Michael P. Coury, Esq., at Glanker Brown, PLLC. STG LOGISTICS: Resolves Court Dispute to Exit Chapter 11 -------------------------------------------------------- Keiron Greenhalgh of Transport Topics reports that STG Logistics is nearing a Chapter 11 exit after achieving a significant milestone in its restructuring process. The company, which provides intermodal and drayage services, filed for bankruptcy protection in January 2026 alongside dozens of affiliates in New Jersey as it sought to address a heavy debt load. A key development came April 27, 2026 when STG disclosed it had settled litigation tied to its 2024 liability management transaction. That restructuring, valued at $300 million, had drawn objections from minority lenders such as Axos Financial and Siemens Financial Services. The settlement removes a major legal hurdle that had threatened to delay the company's turnaround, the report states. STG's financial challenges were largely driven by its $710 million acquisition of XPO Logistics' intermodal business in 2022. During bankruptcy, the company secured $150 million in DIP financing and negotiated a restructuring support agreement with its principal lenders and owners, including Wind Point Partners, Duration Capital Partners, and Oaktree Capital Management, according to report. The restructuring plan is expected to cut more than $1 billion in debt and significantly improve liquidity. CEO Geoff Anderman said the company is now positioned for a near-term emergence from bankruptcy, with operations continuing uninterrupted. Upon exit, ownership is expected to shift to a lender group led by Fortress Investment Group and Invesco, the report states. About STG Logistics Inc. STG Logistics Inc. is a leading 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 Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 26-10258) on January 12, 2026. In its petition, the Debtor reports up to $10 billion in liabilities. Honorable Bankruptcy Judge Mark Edward Hall handles the case. The Debtor is represented by Michael D. Sirota, Esq. of Cole Schotz P.C. SUPERIOR FAMILY: Seeks to Hire Purple Wave Auction as Auctioneer ---------------------------------------------------------------- Superior Family Investments Corp. seeks approval from the U.S. Bankruptcy Court for the Western District of Missouri to employ Purple Wave Auction as auctioneer. The firm will market and sell the Debtor's property known as 1998 International 4700 box truck. Purple Wave Auction anticipates receiving a seller's fee of around 10% for this sale. As disclosed in the court filings, Purple Wave Auction doesn't hold or represent an interest adverse to this estate, has no connections to any party to the case, and is a disinterested party to the case. The firm can be reached through: Neil Parikh Purple Wave Auction 825 Levee Dr Manhattan, KS 66502 Phone: (866) 608-9283 Email: auction@purplewave.com About Superior Family Investments Corp. Superior Family Investments Corp., filed a Chapter 11 bankruptcy petition (Bankr. W.D. Mo. Case No. 5:26-bk-50082) on March 11, 2026. At the time of filing, the Debtor estimated $500,001 to $1 million in both assets and liabilities. Judge Cynthia A Norton presides over the case. The Debtor hires Wiesner & Frackowiak, LC as counsel. SWEETBERRY AVE: Starts Chapter 11 Bankruptcy in New York -------------------------------------------------------- On May 1, 2026, Sweetberry Ave Corp. filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filings, the Debtor reports between $1,000,000 and $10,000,000 in debt owed to between 1 and 49 creditors. A meeting of creditors filed by the United States Trustee under Section 341(a) to be held on June 2, 2026 at 03:00 PM at USA Toll-Free (888) 330-1716, USA Caller Paid/International Toll (713) 353-7024, Access Code 7219992. About Sweetberry Ave Corp. Sweetberry Ave Corp. is a business entity likely engaged in retail, food service, or consumer goods operations, potentially focusing on specialty or branded products. Sweetberry Ave Corp. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-71733) on May 1, 2026. In its petition, the Debtor reports estimated assets of $0 to $100,000 and estimated liabilities of $1,000,000 to $10,000,000. Honorable Bankruptcy Judge Alan S. Trust handles the case. The Debtor is represented by counsel not disclosed in the filing. SYMPLR SOFTWARE: Ares Capital Marks $17.1M 1L Loan at 28% Off ------------------------------------------------------------- Ares Capital Corp. has marked its $17.1 million loan extended to Symplr Software Inc. and Symplr Software Intermediate Holdings, Inc. to market at $12.3 million or 72% of the outstanding amount, according to Ares Capital's 10-Q for the fiscal year ended March 31, 2026, filed with the U.S. Securities and Exchange Commission. Ares Capital Corp. is a participant in a first lien senior secured loan extended to Symplr Software Inc. and Symplr Software Intermediate Holdings, Inc. The 1L Loan accrues interest at a rate of 9.02 % SOFR (Q) 5.25 % per annum. The 1L Loan matures on December 2027. Ares Capital Corporation is a business development company that provides financing solutions to middle-market companies across a range of industries. The Company is led by M. Kort Schnabel as Chief Executive Officer and Scott C. Lem as Chief Financial Officer and Treasurer. The Company can be reached at: M. Kort Schnabel Ares Capital Corporation 245 Park Avenue, 44th Floor New York, NY 10167 Telephone: (212) 750-7300 About Symplr Software Inc. and Symplr Software Intermediate Holdings, Inc. Symplr Software Inc. and Symplr Software Intermediate Holdings, Inc. operate a software-as-a-service platform focused on healthcare compliance solutions. SYMPLR SOFTWARE: Ares Capital Marks $28.4M 1L Loan at 30% Off ------------------------------------------------------------- Ares Capital Corp. has marked its $28.4 million loan extended to Symplr Software Inc. and Symplr Software Intermediate Holdings, Inc. to market at $19.9 million or 70% of the outstanding amount, according to Ares Capital's 10-Q for the fiscal year ended March 31, 2026, filed with the U.S. Securities and Exchange Commission. Ares Capital Corp. is a participant in a first lien senior secured loan extended to Symplr Software Inc. and Symplr Software Intermediate Holdings, Inc. The 1L Loan accrues interest at a rate of 8.27 % SOFR (Q) 4.50 % per annum. The 1L Loan matures on December 2027. Ares Capital Corporation is a business development company that provides financing solutions to middle-market companies across a range of industries. The Company is led by M. Kort Schnabel as Chief Executive Officer and Scott C. Lem as Chief Financial Officer and Treasurer. The Company can be reached at: M. Kort Schnabel Ares Capital Corporation 245 Park Avenue, 44th Floor New York, NY 10167 Telephone: (212) 750-7300 About Symplr Software Inc. and Symplr Software Intermediate Holdings, Inc. Symplr Software Inc. and Symplr Software Intermediate Holdings, Inc. operate a software-as-a-service platform focused on healthcare compliance solutions. SYMPLR SOFTWARE: Ares Capital Marks $55.7M 2L Loan at 25% Off ------------------------------------------------------------- Ares Capital Corp. has marked its $55.7 million loan extended to Symplr Software Inc. and Symplr Software Intermediate Holdings, Inc. to market at $41.8 million or 75% of the outstanding amount, according to Ares Capital's 10-Q for the fiscal year ended March 31, 2026, filed with the U.S. Securities and Exchange Commission. Ares Capital Corp. is a participant in a second lien senior secured loan extended to Symplr Software Inc. and Symplr Software Intermediate Holdings, Inc. The 2L Loan accrues interest at a rate of 13.77 % ( 4.00 % PIK) SOFR (Q) 10.00 % per annum. The 2L Loan matures on December 2028. Ares Capital Corporation is a business development company that provides financing solutions to middle-market companies across a range of industries. The Company is led by M. Kort Schnabel as Chief Executive Officer and Scott C. Lem as Chief Financial Officer and Treasurer. The Company can be reached at: M. Kort Schnabel Ares Capital Corporation 245 Park Avenue, 44th Floor New York, NY 10167 Telephone: (212) 750-7300 About Symplr Software Inc. and Symplr Software Intermediate Holdings, Inc. Symplr Software Inc. and Symplr Software Intermediate Holdings, Inc. operate a software-as-a-service platform focused on healthcare compliance solutions. SYMPLR SOFTWARE: Ares Capital Marks $76.2M 2L Loan at 28% Off ------------------------------------------------------------- Ares Capital Corp. has marked its $76.2 million loan extended to Symplr Software Inc. and Symplr Software Intermediate Holdings, Inc. to market at $54.9 million or 72% of the outstanding amount, according to Ares Capital's 10-Q for the fiscal year ended March 31, 2026, filed with the U.S. Securities and Exchange Commission. Ares Capital Corp. is a participant in a second lien senior secured loan extended to Symplr Software Inc. and Symplr Software Intermediate Holdings, Inc. The 2L Loan accrues interest at a rate of 11.64 % SOFR (Q) 7.88 % per annum. The 2L Loan matures on December 2028. Ares Capital Corporation is a business development company that provides financing solutions to middle-market companies across a range of industries. The Company is led by M. Kort Schnabel as Chief Executive Officer and Scott C. Lem as Chief Financial Officer and Treasurer. The Company can be reached at: M. Kort Schnabel Ares Capital Corporation 245 Park Avenue, 44th Floor New York, NY 10167 Telephone: (212) 750-7300 About Symplr Software Inc. and Symplr Software Intermediate Holdings, Inc. Symplr Software Inc. and Symplr Software Intermediate Holdings, Inc. operate a software-as-a-service platform focused on healthcare compliance solutions. TALKING ROCK: Guarantors' Summary Judgment Bid Partially Denied --------------------------------------------------------------- Judge Daniel P. Collins of the U.S. Bankruptcy Court for the District of Arizona ruled on the summary judgment motions filed by the parties in the adversary proceeding captioned as INSCRIPTION CANYON RANCH, L.P.; et al., Plaintiffs, v. WILLIAM E. SIMON & SONS REALTY PARTNERS, L.P.; et al., Defendants and Counterclaimants, v. INSCRIPTION CANYON RANCH, L.P.; et al., Counter-Defendants, Adversary No. 3:25-ap-00175-DPC (Bankr. D. Ariz.). Before this Court is a case that calls into question how onerous a guaranty agreement can be and still be enforced according to its terms. The Parties have filed cross motions for summary judgment. Inscription Canyon Ranch, L.P.'s ("ICR") Motion for Summary Judgment requests the Court find that the facts demonstrate Harvard Investments, Inc. ("Harvard"), and Harvard Talking Rock, LLC ("Harvard TR" collectively with Harvard, the "Harvard Guarantors"), and William E. Simon & Sons Realty Partners, L.P. ("Simon," together with the Harvard Guarantors, "Guarantors"), have breached their guarantees of Talking Rock Land, LLC's ("Debtor") obligations to ICR. As a consequence of the Guarantors' breach, ICR claims it has suffered damages of over $12 million. Guarantors' Motion for Summary Judgment requests that the Court find the facts demonstrate Guarantors' obligations have been satisfied. In 1999, the Debtor and ICR entered into a contract which governed the transfer, purchase, and development of 3,450 acres of land near Prescott, Arizona. ICR and the Debtor amended the contract many times, including in 2010 when they executed the 2010 Amended and Restated Option Agreement (the "2010 Agreement") and a 2010 Amended and Restated Trust Agreement (the "Master Trust"). The 2010 Agreement describes a system where "lot phases" were converted into junior trusts ("Junior Trusts"). Once lots were placed in a Junior Trust, Debtor would have an obligation to purchase the lots. The 2010 Agreement required Debtor to purchase a minimum number of lots each year during the contract term. Lots purchased by the Debtor were acquired upon satisfaction of specified lot release payments. Failure to purchase the minimum number of lots in a given year resulted in a required catch up payment ("Catch Up Payment") to be made by Debtor in amounts equal to the total price of the lots that should have been purchased. Contemporaneous with Debtor's execution of the 2010 Agreement and Master Trust, each of the Guarantors executed guaranty contracts (the "Guaranties") which obligated each of the Guarantors, jointly and severally with one another, to pay "the full, prompt, complete and faithful performance, payment, observance and fulfillment" of Debtor's obligations to ICR. In summary, the Guaranties each guaranteed Debtor's obligation to ICR to pay (i) all "Phase Maturity Balances" as they come due, (ii) all "Phase Purchase Balances" owed upon specific circumstances, and (iii) all Catch-Up Payments as they come due. The Parties agree that ICR is not presently owed any Phase Maturity Balances or Phase Purchase Balances. It is only the Catch Up Payment obligations of Debtor to ICR that are at issue in this litigation over Guarantors' Guaranties. Under their Guaranties, the Guarantors remain liable to ICR absolutely, unconditionally, and irrevocably until all terms, covenants and conditions of the Trust Documents have been fully and completely performed by Debtor or otherwise discharged and/or released by ICR. The Debtor and ICR amended the 2010 Agreement several times, but it is the Sixth Addendum, effective December 31, 2015, that was the focal point in state court litigation between Debtor and ICR and is now relevant to this proceeding. An affiliate of The True Life Companies, LLC ("True Life"), is now the majority owner of Debtor. True Life's authorized agent, Taber Anderson, negotiated with ICR to modify the 2010 Agreement. Anderson signed the Sixth Addendum on behalf of the Debtor. The Sixth Addendum no longer required Debtor to utilize the Junior Trust process for lot purchases. The Junior Trust mechanism was not eliminated. Rather, beginning with the Sixth Addendum, Debtor could purchase lots directly from the Master Trust. The Debtor's option to purchase lots was extended through the earlier of December 31, 2027 or when ICR received payments for all "Density Units." The minimum number of Density Units (i.e. lots) to be purchased over the term of the Sixth Addendum was also amended and called for a minimum purchase of 768 Density Units at varying prices over the life of the Sixth Addendum. Significantly, Harvard and Harvard TR both signed the Sixth Addendum under the words "Acknowledged and Agreed as to Section 9." Simon did not sign the Sixth Addendum. In 2013, a Membership Interest Purchase Agreement and an Amendment to Membership Interest Purchase Agreement ("Amended MIPA") were executed by Simon, on behalf of an affiliate, and whereby Simon transferred its entire ownership interest in the parent entity of Debtor. As of 2013, Simon had 0% ownership in the parent entity of Debtor, the Harvard affiliates owned 33%, and affiliates of True Life owned 67% of the parent entity of Debtor. The Dispute In November 2018, Debtor notified ICR that it would not purchase any more lots (Density Units). In 2019, Debtor and ICR sought declaratory relief through litigation in the Arizona Superior Court, Maricopa County ("Trial Court") regarding the Debtor's right to stop purchasing Density Units and on the Debtor's financial obligations under the Sixth Addendum (the "First State Court Action"). The Trial Court in the First State Court Action ruled that, whether or not Debtor exercised options to convert lots from the Master Trust to a Junior Trust or exercised its option to acquire lots directly from the Master Trust, the Sixth Addendum imposed upon the Debtor obligations to purchase a defined number of lots each year, through 2027. On appeal, the Arizona Court of Appeals, Division One ("Court of Appeals" together with the Trial Court "State Court") affirmed the Trial Court, determining that the Debtor's Junior Trust conversion option and its option to acquire lots from the Master Trust were distinct from the Debtor's obligations to purchase a minimum number of lots each year, through 2027. The Court of Appeals noted that, while the 2010 Agreement gave Debtor the option to convert phases to Junior Trusts, the Sixth Addendum permitted the Debtor to avoid the Junior Trust conversion mechanism by taking down lots by exercising an option to purchase those lots directly from the Master Trust. Under either option exercised by the Debtor, it would then have to pay for the lots identified in the exercised option. While the Debtor could choose to exercise its option to acquire lots from the Master Trust or through a Junior Trust, the Court of Appeals agreed with the Trial Court that Debtor still had an obligation (under the Sixth Addendum) to acquire a specified minimum number of lots each year through 2027. In other words, Debtor had an option to purchase lots in one of two ways but still had the obligation to pay for a minimum number of lots each year. The Adversary Proceeding On September 25, 2019, ICR filed a complaint in the Trial Court against Debtor and the Guarantors (the "Second State Court Action"). Guarantors filed their answer and counterclaims. Debtor filed its chapter 11 petition on April 18, 2025 ("Petition Date"). On April 23, 2025, Debtor removed the Second State Court Action to this Court thereby commencing Adversary No. 3:25-ap-00175-DPC (the "Adversary Proceeding"). The ICR Motion for Summary Judgment On July 11, 2025, ICR filed a Motion for Summary Judgment and its Statement of Undisputed Facts ("ICR Facts"). ICR argues that, as a matter of law, the Guarantors breached their respective Guaranties and the Guarantors are liable to ICR. ICR argues that the Debtor owes ICR the Catch Up Payments called for under the Sixth Addendum, the Guaranties obligate Guarantors to pay the Catch Up Payment since the Debtor has failed to do so, and ICR has suffered damages as a result of the Catch Up Payments not being paid by either the Debtor or the Guarantors. ICR argues that the Guarantors remain obligated by the Guaranties and are liable to ICR because the Guarantors consented to Debtor and ICR modifying their agreements, the Guarantors waived any defense to modifications of the Debtor's agreements with ICR, and the Guarantors consented to the Sixth Addendum. ICR argues that there is no factual basis for the Guarantors to claim a violation of the anti-contact rule, and even if there was, no legal authority exists to nullify an agreement on this basis. Guarantors' response argues that, by the express terms of the Guaranties, their obligations are created by the Junior Trust lot conversion process, and that the Annual Performance Covenant61 was not guaranteed. Guarantors argue that ICR admitted that only property in Junior Trusts was guaranteed and that ICR was aware (prior to execution of the Sixth Addendum), that the Guarantors did not want to add to their guarantees. Guarantors argue that, even though the Sixth Addendum increased Debtor's liability to ICR, it did not increase Guarantors' financial exposure because they were not parties to the Sixth Addendum, and the State Court determined there was no presumption of Guarantors' liability. ICR contends the Debtor is in default on the 2010 Agreement, as amended by the Sixth Addendum and subsequent addenda, and that Guarantors are obligated to stand good for ICR's claims against the Debtor. The Guarantors' Motion for Summary Judgment The Guarantors filed their own Motion for Summary Judgment and a Statement of Undisputed Facts ("Guarantor Facts"). Guarantors argue that the three obligations within the scope of their Guaranties have all been satisfied and now nothing is owed on their Guaranties. They claim the Guaranties only covered purchases by Debtor from Junior Trusts and no Junior Trusts currently exist. Guarantors contend that communications both before and after execution of the Sixth Addendum demonstrate ICR agreed the Guaranties only apply to Junior Trust conversion obligations and ICR knew the Guarantors did not wish to expand their obligations. They claim that the expansion of Debtor's obligations to ICR under the Sixth Addendum are tantamount to a "new deal" which discharges their obligations under the Guaranties. Guarantors assert that ICR exhibited bad faith and violations of reasonable expectations through ICR's attempts to bind the Guarantors to the expanded liability contained in the Sixth Addendum, and along with the principles of equitable estoppel, Guarantors should be relieved of further liability under the Guaranties. Guarantors argue that Simon should be dismissed because its interests in the Debtor were sold in 2013, long prior to the Sixth Addendum and because it did not sign or otherwise consent to the Sixth Addendum. The Court grants ICR's Motion for Summary Judgment against Harvard and Harvard TR because the Harvard and Harvard TR Guaranties permitted ICR and Debtor to modify the 2010 Agreement without affecting liability of the Guarantors on these Guaranties. The Harvard and Harvard TR Guaranties also broadly waived defenses including the surety defenses Harvard and Harvard TR Guarantors might otherwise have been able to assert. Significantly, Harvard and Harvard TR consented to their Guaranties extending to the Debtor's obligations to ICR under the revisions contained in the Sixth Addendum. The defenses raised by Harvard and Harvard TR are rejected by this Court. The Harvard and Harvard TR Guaranties are enforceable contracts, and Harvard and Harvard TR breached those contracts thereby causing damage to ICR. The Court denies Harvard and Harvard TR Guarantors' Motion for Summary Judgment. The Court denies summary judgment for or against Simon for the reason that genuine issues of material facts remain as to Simon's defenses to the Simon Guaranty. A copy of the Court's Order dated April 30, 2026, is available at https://urlcurt.com/u?l=GOqoXz from PacerMonitor.com. About Talking Rock Land Talking Rock Land, LLC develops and manages Talking Rock, a private residential community in Prescott, Ariz. The development includes luxury homes, a golf course, and club amenities. Talking Rock Land filed Chapter 11 petition (Bankr. D. Ariz. Case No. 25-03438) on April 18, 2025. In its petition, the Debtor reported between $10 million and $50 million in assets and between $1 million and $10 million in liabilities. Judge Daniel P. Collins handles the case. Scott B. Cohen, at Engelman Berger, P.C., is the Debtor's counsel. TEXAS AUTO SAVE: Gets Interim OK to Use Cash Collateral ------------------------------------------------------- Texas Auto Save, LLC and Synergy Capital Auto Lending, LLC received interim approval from the U.S. Bankruptcy Court for the Southern District of Texas, San Antonio Division, to use cash collateral. Under the interim order, the Debtors are authorized to use cash collateral strictly in accordance with an approved budget (with a 10% variance limit), primarily for ordinary operating expenses. All cash must be maintained in debtor-in-possession accounts at Jefferson Bank, and the Debtors must fully account for and segregate all collateral. Any expenses outside the budget require prior lender consent. As adequate protection, secured creditors will be granted replacement liens on post-petition assets, maintaining the same priority as their pre-petition liens. Additional protections include continued access to collateral, rights to inspect and audit assets, insurance requirements, and ongoing payments on certain secured obligations. The Debtors' primary secured creditors include Westlake Capital Financial, which holds broad liens over most assets; the SBA, with a smaller secured claim; and other secured parties such as merchant cash advance lenders, whose lien status is uncertain. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/zAmOj from PacerMonitor.com. A final hearing is scheduled for May 13. About Texas Auto Save LLC Texas Auto Save LLC is a used car dealership based in San Antonio, Texas. The company sells pre-owned vehicles and provides buy-here-pay-here and in-house financing, along with extended warranty options. It also offers online inventory access, quote requests, test drive scheduling, and financing pre-approval applications, serving customers in San Antonio and nearby Texas communities. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 26-51089) on April 25, 2026. In the petition signed by Alex Sinno, managing member, the Debtor disclosed $2,122,888 in total assets and $13,800,382 in total liabilities. Judge Aubrey L Thomas oversees the case. Ronald Smeberg, Esq., at THE SMEBERG LAW FIRM, represents the Debtor as legal counsel. THERAPY BRANDS: Ares Capital Marks $29.1MM 2L Loan at 22% Off ------------------------------------------------------------- Ares Capital Corp. has marked its $29.1 million loan extended to Therapy Brands Holdings LLC to market at $22.7 million or 78% of the outstanding amount, according to Ares Capital's 10-Q for the period ended March 31, 2026, filed with the U.S. Securities and Exchange Commission on April 28, 2026. Ares Capital Corp. is a participant in a second lien senior secured loan extended to Therapy Brands Holdings LLC. The 2L Loan accrues interest at a rate of 10.68% SOFR (Q) 6.75% per annum. The 2L Loan matures in May 2029. Ares Capital Corporation is a business development company that provides financing solutions to middle-market companies across a range of industries. The Company is led by M. Kort Schnabel as Chief Executive Officer and Scott C. Lem as Chief Financial Officer and Treasurer. The Company can be reached at: M. Kort Schnabel Ares Capital Corporation 245 Park Avenue, 44th Floor New York, NY 10167 Telephone: (212) 750-7300 About Therapy Brands Holdings LLC Therapy Brands Holdings LLC is a provider of software solutions serving the mental and behavioral health market segments. TOPPER CORP: Carlos Garcia Miranda Named Subchapter V Trustee ------------------------------------------------------------- The U.S. Trustee for Region 21 appointed Carlos Garcia Miranda as Subchapter V trustee for Topper Corporation. Mr. Garcia Miranda will be paid an hourly fee of $150 for his services as Subchapter V trustee and will be reimbursed for work related expenses incurred. Mr. Garcia Miranda declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. About Topper Corporation Topper Corporation sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.P.R. Case No. 26-01815) on April 23, 2026, with $100,001 to $500,000 in both assets and liabilities. Jesus Enrique Batista Sanchez, Esq., at The Batista Law Group, Psc represents the Debtor as legal counsel. TRM NRE HOLDING: Cash Collateral Hearing Set for May 13 ------------------------------------------------------- The U.S. Bankruptcy Court for the District of Delaware is set to hold a final hearing on May 13 to consider the motion by TRM NRE Holding, LLC and its affiliates to use cash collateral. The Debtors' authority to use cash collateral under the April 29 interim order expires today at 11:59 p.m. ET, unless extended by written consent of Great Rock Capital Partners Management, LLC, the administrative agent for pre-petition secured lenders. Under the interim order, the Debtors were permitted to use cash collateral to cover expenses in line with a 13-week budget, which reflects the Debtors' projected weekly cash receipts. The interim order granted the lenders protection through replacement liens on and security interests in the Debtors' property, whether acquired before or after the petition date; and through allowed administrative expense claims against the Debtors for any diminution in the value of their pre-petition collateral. Other forms of protection include reimbursement of certain professional fees to lenders. The order is available at https://is.gd/tsAeEy from PacerMonitor.com. The pre-bankruptcy secured lenders hold first-priority liens on substantially all of the Debtors' assets securing over $20 million in debt under a 2025 loan agreement. The loan agreement includes a $15 million asset-based revolving credit facility, an $11,726,647.66 term loan facility, and a $3 million uncommitted delayed draw term loan facility. As of the petition date, the Debtors held approximately $400,000 in cash on hand, all of which constitutes cash collateral of the lenders. The Debtors require access to these funds to continue business operations, preserve asset value, and support a successful reorganization. Great Rock, as administrative agent, is represented by: Regina Stango Kelbon, Esq. Stanley B. Tarr, Esq. Jennifer K. Malow, Esq. 1201 N. Market Street, Suite 800 Wilmington, DE 19801 Telephone: (302) 425-6400 Facsimile: (302) 425-6464 regina.kelbon@blankrome.com stanley.tarr@blankrome.com jennifer.malow@blankrome.com About TRM NRE TRM NRE is a Mt. Vernon, Illinois-based company that supplies new, used, and remanufactured locomotives and provides locomotive, diesel engine, rail, marine, and power-related services. The company offers leasing, field services, parts, salvage operations, overhauls, wreck repairs, and locomotive design, manufacturing, and re-engineering. It also provides marine and industrial diesel engine sales and service, automation and control services, and engine generator set and equipment sales. TRM NRE serves Class 1, regional, short line, government, and industrial railroads, along with OEMs, leasing companies, marine and industrial power customers, gas and oil platforms, and stationary power users. TRM NRE Holding LLC and TRM NRE Acquisition LLC filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Del., Case No 26-10568) on April 21, 2026. The petitions were signed by Shaun Karn as authorized signatory. Each Debtor reported estimated assets of $10 million to $50 million and estimated liabilities of $10 million to $50 million. The Hon. Karen B. Owens presides over the cases. The Debtors are represented by DLA Piper LLP. Bayard, P.A. serves as bankruptcy co-counsel to the Debtors. Stretto, Inc. is the Debtors' claims and noticing agent. TRUE BELIEVERS: Court OKs Deal on Cash Collateral Access -------------------------------------------------------- The U.S. Bankruptcy Court for the Western District of Wisconsin approved a stipulation entered into by True Believers, LLC and secured creditors, Expansion Capital and the U.S. Small Business Administration, regarding the use of cash collateral. Because True Believers lacks unencumbered cash, it requires access to cash collateral -- funds subject to the secured creditors' liens -- to sustain operations, including payroll and rent, which are essential to maintaining its business and pursuing reorganization. Both secured creditors hold perfected security interests in substantially all of the Debtor's assets, including accounts receivable, equipment, and general intangibles, through previously filed UCC-1 financing statements. The SBA holds a senior lien arising from an EIDL loan, while Expansion Capital holds a junior (third-priority) lien based on a separate business loan agreement. The Debtor's total asset value is relatively modest—approximately $81,243—but it maintains ongoing revenue streams through a contract with Dane County Health and Human Services, which is expected to generate future receivables. The parties agree that the Debtor may use cash collateral in accordance with a defined operating budget that covers necessary business expenses and incorporates the agreed-upon adequate protection terms. In exchange for permitting the use of cash collateral, the secured creditors receive adequate protection designed to preserve their collateral positions during the bankruptcy. The SBA retains its existing liens and is granted a continuing post-petition security interest, along with monthly interest-only payments of $1,584 prior to plan confirmation. Expansion Capital similarly retains its junior lien status and post-petition security interest, and will receive smaller monthly interest-only payments of $378 based on its loan terms. These arrangements aim to prevent diminution in the value of the creditors' collateral while allowing the debtor to continue operating. The stipulation also establishes default procedures: if the Debtor fails to meet its obligations, the affected creditor must provide notice, and if the default is not cured within 14 days, the creditor may seek relief from the automatic stay to pursue remedies against the collateral. The agreement remains binding only on the Debtor and the secured creditors and will continue in effect until a Subchapter V plan of reorganization is confirmed by the court. A copy of the motion is available at https://urlcurt.com/u?l=IvB5ft from PacerMonitor.com. About True Believers LLC True Believers LLC, a Department of Health and Human Services-certified outpatient clinic, provides mental health and substance abuse services in Wisconsin. The agency offers psychotherapy, psychoeducation, coping skills, meditation, medication management, and limited case management, with specialized support for gender dysphoria and transgender care. Its staff includes licensed substance abuse professionals, licensed professional counselors, and master's-level mental health providers with over 20 years of experience. True Believers, LLC in Madison, WI, sought relief under Chapter 11 of the Bankruptcy Code filed its voluntary petition for Chapter 11 protection (Bankr. W.D. Wis. Case No. 26-10365) on Feb. 24, 2026, listing $0 to $50,000 in assets and $1 million to $10 million in liabilities. Angela Reed as managing member, signed the petition. Judge Catherine J. Furay oversees the case. Krekeler Law, S.C. serves as the Debtor's legal counsel. UNITED AIRLINES: S&P Assigns 'BB+' Rating on 2026 Revenue Bonds --------------------------------------------------------------- S&P Global Ratings assigned its 'BB+' issue-level rating to United Airlines Inc.'s proposed special facilities revenue bonds series 2026 issued by the City of Houston. The bonds will comprise two separate issues: $106 million of ground services equipment facility project bonds and $150 million of catering operations facility project bonds. S&P's 'BB+' issuer credit rating and positive outlook on United are unchanged. The company intends to use the proceeds from the first two series of these bonds primarily to fund the construction and equipping of a ground services equipment facility and catering facility at George Bush Intercontinental Airport in Houston. The bonds are secured by the rent United pays to the city to use leased premises at the city-owned airport. S&P rates the revenue bonds at the same level as our 'BB+' issuer credit rating on United. While not expected, the bondholder claims would become unsecured if the lease is terminated prior to maturity. However, United unconditionally guarantees the bonds and would remain obligated to continue to service its interest and principal payment obligations. These bonds effectively replace the series 2025 ground services equipment facility and catering operations facility project revenue bonds that were launched in November 2025 but did not close (S&P subsequently withdrew its ratings on the bonds). VILLAGE HOMES: Unsecureds Will Get 100% of Claims in Plan --------------------------------------------------------- Village Homes LP submitted a Disclosure Statement describing Second Amended Plan of Reorganization dated April 27, 2026. The Debtor is engaged in the construction of single-family homes, acquisition of single-family residential lots and options to acquire lots, and in the marketing and sale of the completed. 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. The Debtor's properties are located in various subdivisions in Tarrant and Parker Counties, Texas. In October 2024, the Debtor entered into a Real Estate Sales Contract ("Olerio Contract") with Olerio Development, LLC, now known as VilHom FW Holdings, LLC. Pursuant to the contract, the Debtor agreed to sell and Olerio agreed to purchase approximately 100 vacant lots, certain options to acquiring lots, the Debtor's name and related intellectual property, and certain furniture, fixtures, and equipment. Pursuant to the terms of the contract, Olerio was to close the transaction by the end of February 2025. Olerio's lis pendens filings created a cloud on the title of the contract lots, seriously impairing the Debtor's ability to sell the contract lots and operate its business effectively. The bankruptcy case was filed on October 1, 2025, to allow it to continue to operate and to repay its creditors. The Plan contemplates that the Debtor will continue to operate in the ordinary course of business from and after the Effective Date. The Plan provides that the proceeds from home sales will be applied to full payment of the Debtor's Secured Claims in accordance with the applicable loan documents, and in full payment of the Allowed VilHom Claim and Allowed General Unsecured Claims over a period of five years with interest. The Plan organizes certain kinds of Claims into Classes, and leaves other kinds of Claims unclassified, as the Bankruptcy Code requires. The Debtor owns a number of Lots located in Tarrant and Parker Counties. Proofs of Claim for Priority Property Taxes secured by statutory tax liens have been filed against the Debtor totaling approximately $159,000. This amount has been paid down through sales of Lots after the proofs of claim were filed. As these Lots are sold, these Priority Tax Claims for tax years 2025 and earlier years, to the extent allowed, will be paid from the proceeds at closing. Property Tax Claims for tax year 2026 will be paid as Ordinary Course Administrative Expenses. After full payment of Allowed Administrative Expenses, Allowed Priority Tax Claims, Allowed Property Tax Claims, and U.S. Trustee fees, each holder of an Allowed Claim in each of the following Classes will receive the following distributions: * Class 1 (Priority Non-Tax Claims). Each holder of an Allowed Claim in this Class will receive payment in full in Cash on or before the applicable Plan Distribution Date unless the holder and the Debtor agree to other treatment. The Debtor believes that there are no Class 1 Claims. * Class 2A, 2B, 2C, 2D, 2E, 2F, and 2G. These are the Secured Claims held by the Secured Lenders. Each such Claim is classified separately. Upon the sale of each item of Collateral securing a Secured Lender's Claim, the Reorganized Debtor will pay to the Secured Lender a portion of the Sale Proceeds as determined by the applicable loan documents. The Class 2F Claim by Huntington is disputed and will be paid once the Claim Objection is resolved from the proceeds of Lot sales paid into escrow. * Class 3 (Other Secured Claims). The Debtor believes that there are no Class 3 Claims and that this will be an empty Class. * Class 4 (VilHom Claim). The VilHom Claim has been estimated by the Bankruptcy Court for confirmation purposes only at $300,000. The final Allowed Amount of the VilHom Claim will be determined through the Adversary Proceeding. Until the Final Allowed Amount of the VilHom Claim is determined, the Reorganized Debtor will make monthly payments into escrow for the benefit of VilHom of $8,333.33 each. Once the Final Allowed Amount, if any, of the VilHom Claim has been determined, the funds will be disbursed to either VilHom or the Reorganized Debtor. If the funds in escrow are insufficient to pay the full VilHom Claim, then the balance will be paid in 36 monthly installments of no less than $8,333.33 each. The VilHom Claim constitutes a Contested Claim. * Class 5 (Convenience Claims). Each holder of an Allowed Claim in this Class will receive payment in full in Cash on or before the applicable Plan Distribution Date. * Class 6 (General Unsecured Claims). Each holder of an Allowed General Unsecured Claim shall receive, beginning on or before the applicable Plan Distribution Date, Cash equal to the Allowed amount of such General Unsecured Claim in thirty-six substantially equal monthly installments of principal and accrued interest at the rate computed in accordance with Section 1961(a) of the Bankruptcy Code. * Class 7 (Interests). Holders of Interests shall retain such Interests. The allowed unsecured claims in Class 6 total $137,650.14. This includes the Scheduled Class 6 Claims plus an allowance for the disputed claim filed by Charles Walker Bush and Lora Bush of no more than $50,000. This Class will receive a distribution of 100% of their allowed claims. The Debtor shall continue to exist after the Effective Date, with all the powers available to such legal entities, in accordance with applicable law and pursuant to its constituent documents. Upon the occurrence of the Effective Date, the Debtor shall be thereafter referred to as the Reorganized Debtor. As of the Effective Date, pursuant to sections 1141(b) and (c) of the Bankruptcy Code, all Assets, including all Cash, Estate Accounts Receivable, Estate Claims and Estate Defenses, shall vest in the Reorganized Debtor, free and clear of all rights, title, interests, claims, liens, encumbrances, and charges, except as expressly set forth in the Plan. On and after the Effective Date, the Reorganized Debtor may administer, use, acquire, or dispose of property without supervision or approval by the Bankruptcy Court and free of any restrictions of the Bankruptcy Code or Bankruptcy Rules, other than those restrictions expressly imposed by the Plan or the Confirmation Order. A full-text copy of the Disclosure Statement dated April 27, 2026 is available at https://urlcurt.com/u?l=6ZpogJ from PacerMonitor.com at no charge. Counsel to the Debtor: Jeff Prostok, Esq. Emily S. Chou, Esq. Mary Taylor Stanberry, Esq. Vartabedian Hester & Haynes LLP 301 Commerce Street, Suite 2200 Fort Worth, TX 76102 Tel: (817) 214-4990 Email: jeff.prostok@vhh.law emily.chou@vhh.law mary.stanberry@vhh.law 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 Oct. 1, 2025. Jeff P. Prostok at Vartabedian Hester & Haynes LLP, is serving as the legal counsel of the Debtor. VITAL PHARMA: Wins Bid for Preliminary Injunction v. Elite Island ----------------------------------------------------------------- Judge Peter D. Russin of the U.S. Bankruptcy Court for the Southern District of Florida granted preliminary injunction against Elite Island LLC in the adversary proceeding captioned as VPX LIQUIDATING TRUST, Plaintiff, Adv. Pro. 24-01009-PDR v. JOHN H. OWOC, et al., Defendants, Adv. Pro. 24-01009-PDR (Bankr. S.D. Fla.). Between July 2020 and October 2022, while facing hundreds of millions of dollars in litigation exposure, the former sole owner and CEO of Vital Pharmaceuticals, Inc. caused the company to transfer nearly ten million dollars of its funds to acquire and maintain a luxury property on a private island in the Florida Keys -- property that was titled not in the company's name but in the name of a shell entity he controlled. VPX received nothing in return. VPX's creditors, now represented by the VPX Liquidating Trust, seek to recover that property as a fraudulent transfer. Elite Island was organized as a Florida limited liability company, with Owoc as its sole member and manager at the time of formation. Elite Island is not, and has never been, part of VPX's corporate structure or operations. Yet Elite Island's address on the recorded Warranty Deed is 1600 North Park Drive, Weston, Florida -- the same address as VPX's corporate office. On July 29, 2020, VPX transferred $250,000 to Kalis Kleiman & Wolfe concerning real property located at 72100 Overseas Highway, Islamorada, Florida (the "Overseas Highway Property" or the "Property"). On August 31, 2020, Solid Investment Group 7 LLC conveyed the Overseas Highway Property to Elite Island by Warranty Deed. The Overseas Highway Property is Elite Island's sole asset. The entire purchase price for the Overseas Highway Property was paid by VPX. On August 31, 2020, at Owoc's direction, VPX wired $8,304,171.78 from its PNC Bank operating account to the escrow account of the Torrens Law Firm PLLC at TD Bank, the closing agent for the transaction. In addition to the initial $250,000 transfer and the $8.3 million purchase price, Owoc directed VPX to pay substantial additional sums for construction, renovation, maintenance, and other carrying costs associated with the Overseas Highway Property. In the aggregate, between July 29, 2020 and October 1, 2022, VPX transferred $9,747,727.82 to third parties in connection with the Overseas Highway Property and Elite Island (the "Elite Island Transfers"). The Trust commenced this adversary proceeding on January 18, 2024. Counts Twenty-Eight through Thirty-One of the operative Second Amended Complaint, filed September 16, 2024, are addressed to Elite Island LLC and seek to avoid and recover, as fraudulent transfers under 11 U.S.C. Secs. 544, 548, and 550 and the Florida Uniform Fraudulent Transfer Act ("FUFTA"), Fla. Stat. Secs. 726.105 and 726.108, transfers of approximately $9.7 million in Vital Pharmaceuticals, Inc. ("VPX") funds. On March 25, 2026, Owoc -- joined by his wife and co-defendant Megan Owoc, who were proceeding pro se at the time -- filed an Emergency Motion for Extension of Time to Retain Successor Counsel (the "Extension Motion"), in which the Owocs expressly confirmed their intent to "arrange and close financing" secured by the Overseas Highway Property. In response, the Trust filed the TRO/PI Motion on March 31, 2026, seeking emergency relief to prevent the Property from being encumbered, transferred, or otherwise disposed of before the Trust's fraudulent-transfer claims could be adjudicated. The question before the Court at the preliminary injunction stage is whether the Trust has demonstrated a sufficient likelihood of success on its fraudulent transfer claims to justify restraining the shell entity -- Elite Island LLC -- from encumbering or transferring the property before those claims are tried. The preliminary injunction hearing was held on April 22, 2026 (the "PI Hearing"), on the Motion of the VPX Liquidating Trust for a Temporary Restraining Order and Preliminary Injunction Against Elite Island LLC (the "TRO/PI Motion"). The Court concludes the entry of the preliminary injunction on April 23, 2026 is supported by the Trust's demonstration of: (i) a substantial likelihood of success on the merits of Count Twenty-Eight (FUFTA constructive fraud) and Count Thirty (FUFTA actual fraud) as to all of the Elite Island Transfers, and of Count Twenty-Nine (Section 548(a)(1)(B) constructive fraud) and Count Thirty-One (Section 548(a)(1)(A) actual fraud) as to the Elite Island Transfers made on or after October 10, 2020; (ii) irreparable harm in the form of threatened dissipation of a specific res to which the Trust holds an equitable claim; (iii) a balance of hardships favoring the Trust; and (iv) a public interest in the orderly administration of the bankruptcy estate. A copy of the Court's Memorandum Opinion dated May 5, 2026, is available at https://urlcurt.com/u?l=3oBWYe from PacerMonitor.com. About Vital Pharmaceuticals Since 1993, Florida-based Vital Pharmaceuticals, Inc., doing business as Bang Energy and as VPX Sports, has developed performance beverages, supplements, and workout products to fuel high-energy lifestyles. VPX Sports is the maker of Bang energy drinks, among other consumer products. Vital Pharmaceuticals, Inc., along with certain of its domestic subsidiaries and affiliates, filed voluntary petitions for protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Lead Case No. 22-17842) on Oct. 10, 2022. VPX estimated $500 million to $1 billion in assets and liabilities as of the bankruptcy filing. The Hon. Scott M. Grossman is the case judge. WABEEK RIDGE: Charles Mouranie Named Subchapter V Trustee --------------------------------------------------------- The U.S. Trustee for Regions 3 and 9 appointed Charles Mouranie of CMM & Associates as Subchapter V trustee for Wabeek Ridge Homeowners Association. Mr. Mouranie 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. Mouranie declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Charles M. Mouranie CTP CMM & Associates 43313 Woodward Ave., Ste. 1189 Phone: 248.767.9492 Email: cmouranie@cmmengllc.com About Wabeek Ridge Homeowners Association Wabeek Ridge Homeowners Association sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Mich. Case No. 26-44803) on April 27, 2026, with $0 to $50,000 in assets and $100,001 to $500,000 in liabilities. Judge Mark A. Randon presides over the case. Robert N. Bassel, Esq. at Robert Bassel, Attorney At Law represents the Debtor as legal counsel. WISER SOLUTIONS: Gets Interim OK for DIP Financing From Crestline ----------------------------------------------------------------- Wiser Solutions, Inc. and affiliated debtors received interim approval from the U.S. Bankruptcy Court for the Northern District of Texas, Dallas Division, to use cash collateral and obtain post-petition financing to get through bankruptcy. Since 2012, the Debtors have grown through an aggressive strategy involving eleven acquisitions. Despite this growth, the Debtors required Chapter 11 protection to restructure and have sought immediate liquidity to maintain operations and preserve their going-concern value. The Debtors operate in over 45 countries and employ 384 individuals as of late 2025. The Debtors are requesting a superpriority, senior secured, and priming debtor-in-possession multi-draw term loan facility totaling $34.2 million. The facility is structured as follows: New Money Loans: A total of $11.4 million in fresh capital, with $4.2 million available upon the entry of the Interim Order and the remaining $7.2 million available upon the Final Order. Roll-Up Loans: The facility includes a "roll-up" of pre-petition debt totaling $22.8 million. Under the Interim Order, $3.4 million is rolled up, with an additional $19.4 million converted upon the Final Order. Lenders and Terms: The facility is provided by Crestline Direct Finance, L.P., acting as both the administrative agent and a DIP lender. The interest rate is set at 20.0% per annum, payable in kind, increasing to 22.0% upon default. The facility matures 90 days after the Petition Date or upon the consummation of a Section 363 sale transaction. To secure the DIP obligations, the Debtors offer granting Crestline "priming" liens that are senior to all pre-petition liens. These liens attach to all pre-petition and post-petition property, including cash collateral and, eventually, avoidance action proceeds. All DIP claims are granted superpriority administrative expense status, meaning they are paid before almost all other claims. However, these interests are subject to a "Carve-Out," which reserves specific funds to pay the fees of the Debtors' professionals and certain statutory fees to the U.S. Trustee. The DIP Facility is strictly governed by a 13-week rolling cash flow budget. The Debtors must deliver weekly updates and are subject to a 15% Permitted Variance test for operating disbursements. The proceeds are earmarked for post-petition operating expenses, the costs of a "Stalking Horse" sale process, and limited intercompany advances to foreign non-Debtor subsidiaries to maintain global operations. The facility also includes a "Wind Down Reserve" to ensure an orderly conclusion to the cases if a sale is finalized. As "adequate protection" for the pre-petition secured parties whose liens are being primed, the Debtors offer granting replacement liens and superpriority claims. These are intended to compensate pre-petition lenders for any diminution in the value of their collateral resulting from the bankruptcy proceedings, the automatic stay, or the Debtors' use of cash during the case. Effective upon the final order, the Debtors also agree to waive their right to surcharge collateral or apply the "equities of the case" exception, further protecting the lenders' remaining interests. A copy of the interim DIP order is available at https://is.gd/eLbyRD from PacerMonitor.com. The final hearing is set for May 20. The deadline for filing objections is on May 13. Crestline, as DIP agent, is represented by: Amanda S. Rush, Esq. JONES DAY 2727 N. Harwood St. Dallas, TX 75201 Telephone: (214) 220-3939 Facsimile: (214) 969-5100 asrush@jonesday.com -- and -- Gary L. Kaplan, Esq. JONES DAY 600 Brickell Avenue Miami, FL 33131 Telephone: (305) 714-9700 Facsimile: (305) 714-9799 gkaplan@jonesday.com -- and -- S. Christopher Cundra IV, Esq. JONES DAY 51 Louisiana Avenue NW Washington, DC 20001 Telephone: (202) 879-3939 Facsimile: (202) 626-1700 sccundra@jonesday.com About Wiser Solutions Inc. Wiser Solutions, Inc. is a U.S.-based technology company specializing in retail analytics and pricing intelligence solutions for brands and retailers. Wiser Solutions Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 26-80002) on April 26, 2026. In its petition, the Debtor reports assets in the range of $50 million to $100 million and liabilities between $100 million and $500 million. Honorable Bankruptcy Judge Scott W. Everett handles the case. The Debtor is represented by Katharine Battaia Clark, Esq. of Thompson Coburn LLP. WOODLINE PROPERTIES: Case Summary & Four Unsecured Creditors ------------------------------------------------------------ Debtor: Woodline Properties, LLC 55 Woodline Drive Fairmont, WV 26554 Business Description: Woodline Properties, LLC owns and leases multifamily apartment properties in Morgantown, West Virginia. Its portfolio includes residential buildings and apartment units located at 1445, 1447, and 1448 Van Voorhis Road. Chapter 11 Petition Date: May 4, 2026 Court: United States Bankruptcy Court Northern District of West Virginia Case No.: 26-00327 Judge: Hon. David L Bissett Debtor's Counsel: Paul W. Roop, II, Esq. ROOP LAW OFFICE, LC P.O. Box 1145 Beckley, WV 25802-1145 Tel: (304) 255-7667 Fax: (304) 256-2295 E-mail: bankruptcy@rooplawoffice.com Total Assets: $4,323,825 Total Liabilities: $2,159,168 The petition was signed by Robert Hadox as member. A full-text copy of the petition, which includes a list of the Debtor's four unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/YASD5XQ/Woodline_Properties_LLC__wvnbke-26-00327__0001.0.pdf?mcid=tGE4TAMA WSHP FC: Ares Capital Marks $24.2MM 1L Loan at 16% Off ------------------------------------------------------ Ares Capital Corp. has marked its $24.2 million loan extended to WSHP FC Acquisition LLC and WSHP FC Holdings LLC to market at $20.3 million or 84% of the outstanding amount, according to Ares Capital's 10-Q for the period ended March 31, 2026, filed with the U.S. Securities and Exchange Commission on April 28, 2026. Ares Capital Corp. is a participant in a first lien senior secured loan extended to WSHP FC Acquisition LLC and WSHP FC Holdings LLC. The 1L Loan accrues interest at a rate of 12.00% PIK per annum. The 1L Loan matures in March 2030. Ares Capital Corporation is a business development company that provides financing solutions to middle-market companies across a range of industries. The Company is led by M. Kort Schnabel as Chief Executive Officer and Scott C. Lem as Chief Financial Officer and Treasurer. The Company can be reached at: M. Kort Schnabel Ares Capital Corporation 245 Park Avenue, 44th Floor New York, NY 10167 Telephone: (212) 750-7300 About WSHP FC Acquisition LLC and WSHP FC Holdings LLC WSHP FC Acquisition LLC and WSHP FC Holdings LLC are providers of biospecimen products that support pharmaceutical research. XANDRIA HOLDINGS: Must Remit Monthly Adequate Protection Payments ----------------------------------------------------------------- Judge Robert A. Mark of the U.S. Bankruptcy Court for the Southern District of Florida granted SunnyDay MHP LLC's (the "Secured Creditor") Emergency Motion for Clarification and/or Reconsideration of Order Granting Debtor-In-Possession's Emergency Motion to Authorize Use of Cash Collateral in the bankruptcy case of Xandria Holdings, LLC. SunnyDay MHP LLC is a Secured Creditor of Xandria Holdings, LLC. This matter arises out of the Debtor's purchase of the real property located at 2302 Tommy Lackey Road, Tallahassee, FL 32310, pursuant to a seller-financed transaction that closed on November 16, 2023. The Secured Creditor is an entity owned and operated by a husband and wife who, after years of operating a mobile home park, sold the property to the Debtor through a seller-financed transaction. The sale represented far more than a routine commercial transaction -- it was the culmination of a lifetime of work and the foundation upon which these individuals planned to fund their retirement. The express purpose of the seller financing arrangement was to provide the Secured Creditor's principals with a reliable and steady income stream while relieving them of the burdens of day-to-day property management and operations. The Debtor's failure to maintain adequate property insurance constituted a default under the financing documents, necessitating the commencement of foreclosure proceedings. On the eve of a scheduled summary judgment hearing -- and in an apparent effort to forestall the entry of judgment -- the Debtor filed for relief under Chapter 11, Subchapter V of the United States Bankruptcy Code. As a condition of the Court's authorization of the Debtor's use of cash collateral, the Debtor was ordered to obtain adequate and sufficient insurance coverage on the subject property no later than April 3, 2026. The Debtor has failed to fully comply with this requirement. The Debtor was further ordered to remit adequate protection payments in the amount of $5,500.00 per month to the Secured Creditor. Order Granting the Emergency Motion for Clarification and/or Reconsideration of Order Granting Debtor-In-Possession's Emergency Motion to Authorize Use of Cash Collateral The Debtor is ordered to make monthly adequate protection payments to the Secured Creditor on or before May 1, 2026 and the first day of each month thereafter. If the Debtor is in default on the adequate protection payments, counsel for the Secured Creditor must provide notice via email to Debtor's counsel. Debtor must then have ten (10) days to cure said default. Failure to cure such default will result in stay relief being granted without further hearing upon the submission of an order granting stay relief as to the real property commonly described as property address: 2302 Tommy Lackey Rd., Tallahassee, FL 32310. A copy of the Motion dated April 14, 2026, is available at https://urlcurt.com/u?l=PDKLEM from PacerMonitor.com. A copy of the Court's Order dated May 5, 2026, is available at https://urlcurt.com/u?l=wD8FDW from PacerMonitor.com. About Xandria Holdings, LLC Xandria Holdings LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-12980) on March 11, 2026, with $500,000 to $1 million in assets and $1 million to $10 million in liabilities. Zohair Sultan, president, signed the petition. David W. Langley, Esq. represents the Debtor as legal counsel. XANDRIA HOLDINGS: SunnyDay MHP Loses Bid for Automatic Stay Relief ------------------------------------------------------------------ Judge Robert A. Mark of the U.S. Bankruptcy Court for the Southern District of Florida denied SunnyDay MHP LLC's motion for relief from the automatic stay in the bankruptcy case of Xandria Holdings, LLC. SunnyDay MHP LLC is a secured creditor of Xandria Holdings, LLC. At the time of filing this motion, the Debtor was indebted to Secured Creditor pursuant to a loan documentation. On March 31, 2026, Judge Robert A. Mark, United States Bankruptcy Court Judge, entered an Order Granting Debtor-in-Possession's Emergency Motion to Authorize Use of Cash Collateral which states regarding insurance. On April 15, 2026, via email, Notice of Default regarding the insurance failing to name Secured Creditor as loss payee was sent to Debtor's Counsel. Pursuant to Paragraph 10, Debtor had 72 hours to cure the default. As of the date of filing, Debtor has not cured the default. Also, Debtor has failed to pay the adequate protection payments. Secured Creditor seeks an order granting relief from the automatic stay to permit the foreclosure of the collateral, on an in rem basis. The Court holds the motion is denied based on the adequate protection being addressed in the Order Granting Secured Creditor SunnyDay MHP LLC's Emergency Motion for Clarification and/or Reconsideration of Order Granting Debtor-In-Possession's Emergency Motion to Authorize Use of Cash Collateral. Under the Order, the Debtor must make monthly adequate protection payments to the Secured Creditor on or before May 1, 2026 and the first day of each month thereafter. The automatic stay shall continue in full force and effect as to the real property commonly described as property address: located at 2302 Tommy Lackey Rd., Tallahassee, FL 32310. A copy of the Motion dated April 22, 2026, is available at https://urlcurt.com/u?l=aNFjU9 from PacerMonitor.com. A copy of the Court's Order dated May 5, 2026, is available at https://urlcurt.com/u?l=V8mg01 from PacerMonitor.com. Attorneys for Secured Creditor: Christian Savio, Esq. LAW OFFICES OF MANGANELLI LEIDER & SAVIO, P.A 1900 NW Corporate Blvd., Suite 200W Boca Raton, FL 33431 Telephone: (561) 826-1740 Facsimile: (561) 826-1741 E-mail: csavio@mls-pa.com About Xandria Holdings, LLC Xandria Holdings LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-12980) on March 11, 2026, with $500,000 to $1 million in assets and $1 million to $10 million in liabilities. Zohair Sultan, president, signed the petition. David W. Langley, Esq. represents the Debtor as legal counsel. [^] Recent Small-Dollar & Individual Chapter 11 Filings ------------------------------------------------------- In re Royal Express Delivery Inc. Bankr. C.D. Cal. Case No. 26-10909 Chapter 11 Petition filed April 28, 2026 See https://www.pacermonitor.com/view/H2VLFQQ/Royal_Express_Delivery_Inc__cacbke-26-10909__0001.0.pdf?mcid=tGE4TAMA represented by: Michael Kwasigroch, Esq. LAW OFFICES OF MICHAEL D. KWASIGROCH E-mail: attorneyforlife@aol.com In re Celebrity Medical Center, LLC Bankr. M.D. Fla. Case No. 26-03065 Chapter 11 Petition filed April 28, 2026 See https://www.pacermonitor.com/view/MJHEKSY/Celebrity_Medical_Center_LLC__flmbke-26-03065__0001.0.pdf?mcid=tGE4TAMA represented by: Jeffrey S. Ainsworth, Esq. BRANSON AINSWORTH PLLC E-mail: jeff@bransonlaw.com In re Celest Investments LLC Bankr. D. Mass. Case No. 26-40475 Chapter 11 Petition filed April 28, 2026 See https://www.pacermonitor.com/view/PY4FUYY/Celest_Investments_LLC__mabke-26-40475__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re VM SPV2 LLC Bankr. E.D.N.Y. Case No. 26-42057 Chapter 11 Petition filed April 28, 2026 See https://www.pacermonitor.com/view/N76XCPI/VM_SPV2_LLC__nyebke-26-42057__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re The Laundry Bar, LLC Bankr. N.D. Tex. Case No. 26-31817 Chapter 11 Petition filed April 28, 2026 See https://www.pacermonitor.com/view/JWH437Q/The_Laundry_Bar_LLC__txnbke-26-31817__0001.0.pdf?mcid=tGE4TAMA represented by: C. Daniel Herrin, Esq. HERRIN LAW, PLLC E-mail: ecf@herrinlaw.com In re Carmen Emma Creighton Bankr. E.D. Va. Case No. 26-71088 Chapter 11 Petition filed April 28, 2026 See https://www.pacermonitor.com/view/EJ4644A/Carmen_Emma_Creighton__vaebke-26-71088__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Dusted77 Fine Minerals, LLC Bankr. D. Colo. Case No. 26-13000 Chapter 11 Petition filed April 29, 2026 See https://www.pacermonitor.com/view/PLZRJGY/Dusted77_Fine_Minerals_LLC__cobke-26-13000__0001.0.pdf?mcid=tGE4TAMA represented by: Lacey Bryan, Esq. MARKUS WILLIAMS LLC E-mail: lbryan@markuswilliams.com In re Q-Free TCS, Inc Bankr. D. Del. Case No. 26-10619 Chapter 11 Petition filed April 29, 2026 See https://www.pacermonitor.com/view/YBDIJAQ/Q-Free_TCS_Inc__debke-26-10619__0001.0.pdf?mcid=tGE4TAMA represented by: Julia Klein, Esq. KLEIN LLC E-mail: klein@kleinllc.com In re Justin Den Herder and Cyndie Den Herder Bankr. M.D. Fla. Case No. 26-01927 Chapter 11 Petition filed April 29, 2026 represented by: Thomas Adam, Esq. In re Melvin Eugene Kennedy Bankr. M.D. Fla. Case No. 26-03616 Chapter 11 Petition filed April 29, 2026 See https://www.pacermonitor.com/view/SD6A25Y/Melvin_Eugene_Kennedy__flmbke-26-03616__0001.0.pdf?mcid=tGE4TAMA represented by: Buddy Ford, Esq. FORD & SEMACH, P.A. Email: All@tampaesq.com In re Stephen Olufemi Ojeshina Bankr. M.D. Fla. Case No. 26-03632 Chapter 11 Petition filed April 29, 2026 represented by: James Elliott, Esq. In re Harry L Wingate, III Bankr. N.D. Ga. Case No. 26-20661 Chapter 11 Petition filed April 29, 2026 represented by: William Gooding, Esq. JONES & WALDEN LLC In re Bystol Performance Center Inc. Bankr. N.D. Ill. Case No. 26-07442 Chapter 11 Petition filed April 29, 2026 See https://www.pacermonitor.com/view/EC7PCNA/Bystol_Performance_Center_Inc__ilnbke-26-07442__0001.0.pdf?mcid=tGE4TAMA represented by: Joel Schechter, Esq. LAW OFFICES OF JOEL A. SCHECHTER E-mail: joelschechter1953@gmail.com In re Loistine Hoskin Bankr. E.D. Mo. Case No. 26-41887 Chapter 11 Petition filed April 29, 2026 See https://www.pacermonitor.com/view/LM3SLSQ/Loistine_Hoskin__moebke-26-41887__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Mutiny BBQ Company LLC Bankr. D.N.J. Case No. 26-14759 Chapter 11 Petition filed April 29, 2026 See https://www.pacermonitor.com/view/4FAW4EY/Mutiny_BBQ_Company_LLC__njbke-26-14759__0001.0.pdf?mcid=tGE4TAMA represented by: Jonathan Goldsmith Cohen, Esq. I. MARK COHEN LAW GROUP E-mail: jgc@imclawgroup.com In re 9 Lake Region Blvd LLC Bankr. S.D.N.Y. Case No. 26-35463 Chapter 11 Petition filed April 29, 2026 See https://www.pacermonitor.com/view/CBUXZ6I/9_Lake_Region_Blvd_LLC__nysbke-26-35463__0001.0.pdf?mcid=tGE4TAMA represented by: Robert Lewis, Esq. ROBERT S LEWIS PC E-mail: Robert.lewlaw1@gmail.com In re House4U Mngmnt Services Inc. Bankr. S.D.N.Y. Case No. 26-10977 Chapter 11 Petition filed April 29, 2026 See https://www.pacermonitor.com/view/WKOTAMQ/HOUSE4U_MNGMNT_SERVICES_INC__nysbke-26-10977__0001.0.pdf?mcid=tGE4TAMA represented by: Charles Wertman, Esq. LAW OFFICES OF CHARLES WERTMAN P.C. E-mail: charles@cwertmanlaw.com In re Savin Grace, LLC Bankr. E.D.N.C. Case No. 26-01924 Chapter 11 Petition filed April 29, 2026 See https://www.pacermonitor.com/view/JKO3DVI/Savin_Grace_LLC__ncebke-26-01924__0001.0.pdf?mcid=tGE4TAMA represented by: Ciara L. Rogers, Esq. WALDREP WALL BABCOCK & BAILEY PLLC E-mail: notice@waldrepwall.com In re Copper Fox Antiques LLC Bankr. W.D. Va. Case No. 26-50252 Chapter 11 Petition filed April 29, 2026 See https://www.pacermonitor.com/view/ECWLM7Y/Copper_Fox_Antiques_LLC__vawbke-26-50252__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Charles Leonard Martin and Kristin Erika Windell Bankr. C.D. Cal. Case No. 26-14287 Chapter 11 Petition filed April 30, 2026 represented by: Clifford Bordeaux, Esq. In re Qon Conn, LLC Bankr. D.D.C. Case No. 26-00231 Chapter 11 Petition filed April 30, 2026 See https://www.pacermonitor.com/view/KF3S3OQ/Qon_Conn_LLC__dcbke-26-00231__0001.0.pdf?mcid=tGE4TAMA represented by: Linda Dorney, Esq. BGS LAW, LLC E-mail: linda@bgslawllc.com In re Epona Holdings LLC Bankr. E.D. Cal. Case No. 26-22457 Chapter 11 Petition filed April 30, 2026 See https://www.pacermonitor.com/view/OKAR4QY/Epona_Holdings_LLC__caebke-26-22457__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Ryan Yates Larson and Courtney Larson Bankr. M.D. Fla. Case No. 26-03681 Chapter 11 Petition filed April 30, 2026 represented by: Chad Van Horn, Esq. In re 1106B, LLC Bankr. S.D. Fla. Case No. 26-15592 Chapter 11 Petition filed April 30, 2026 See https://www.pacermonitor.com/view/22IQCEQ/1106B_LLC__flsbke-26-15592__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re John Kent Stockwell and Lynn Darlene Stockwell Bankr. S.D. Fla. Case No. 26-15628 Chapter 11 Petition filed April 30, 2026 represented by: Indira Spence, Esq. In re 415 Magie Avenue LLC Bankr. D.N.J. Case No. 26-14899 Chapter 11 Petition filed April 30, 2026 See https://www.pacermonitor.com/view/BPK3VPQ/415Magie_Avenue_LLC__njbke-26-14899__0001.0.pdf?mcid=tGE4TAMA represented by: Michael Schonberger, Esq. LAW OFFICE OF MICHAEL C. SCHONBERGER LLC In re 439 Marshall Ave LLC Bankr. D.N.J. Case No. 26-14903 Chapter 11 Petition filed April 30, 2026 See https://www.pacermonitor.com/view/ONJ2GOQ/439_Marshall_Ave_LLC__njbke-26-14903__0001.0.pdf?mcid=tGE4TAMA represented by: Michael Schonberger, Esq. LAW OFFICE OF MICHAEL C. SCHONBERGER, LLC E-mail: michael@bergeresq.com In re 168 Manhattan Inc. Bankr. E.D.N.Y. Case No. 26-42134 Chapter 11 Petition filed April 30, 2026 See https://www.pacermonitor.com/view/MVOV5SQ/168_Manhattan_Inc__nyebke-26-42134__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re John David Preble Bankr. W.D.N.C. Case No. 26-30586 Chapter 11 Petition filed April 30, 2026 represented by: John Woodman, Esq. ESSEX RICHARDS, P.A. Email: jwoodman@essexrichards.com In re JTD Enterprises LLC Bankr. D.N.D. Case No. 26-30337 Chapter 11 Petition filed April 30, 2026 See https://www.pacermonitor.com/view/WKDKFEQ/JTD_Enterprises_LLC__ndbke-26-30337__0001.0.pdf?mcid=tGE4TAMA represented by: Sarah Duffy, Esq. AHLGREN LAW OFFICE, PLLC E-mail: sarah@ahlgrenlawoffice.net In re Tunkhannock Trails II Road Association, Inc. Bankr. M.D. Pa. Case No. 26-01255 Chapter 11 Petition filed April 30, 2026 See https://www.pacermonitor.com/view/R7WHPWA/Tunkhannock_Trails_II_Road_Association__pambke-26-01255__0001.0.pdf?mcid=tGE4TAMA represented by: Kimberly D. Martin, Esq. THE LAW OFFICES OF JOHN J. MARTIN E-mail: jmartin@martin-law.net In re The Schmidtevil incorporated Bankr. W.D. Pa. Case No. 26-21217 Chapter 11 Petition filed April 30, 2026 See https://www.pacermonitor.com/view/O6ZZCBA/The_Schmidtevil_incorporated__pawbke-26-21217__0001.0.pdf?mcid=tGE4TAMA represented by: Christopher M. Frye, Esq. STEIDL & STEINBERG, P.C. E-mail: chris.frye@steidl-steinberg.com In re Anthony Harold Narancic Bankr. W.D. Wash. Case No. 26-11453 Chapter 11 Petition filed April 30, 2026 represented by: Marc Stern, Esq. In re Vincent W. Gardner Bankr. S.D. Ala. Case No. 26-11263 Chapter 11 Petition filed May 1, 2026 represented by: Alexandra Garrett, Esq. SILVER VOIT GARRETT & WATKINS, ATTORNEYS AT LAW, P.C. In re Christina Renee Siwek and Matthew Joseph Siwek Bankr. D. Ariz. Case No. 26-04401 Chapter 11 Petition filed May 1, 2026 represented by: Tracy Essig, Esq. In re Marc Rheal Bernard Bankr. M.D. Fla. Case No. 26-03234 Chapter 11 Petition filed May 1, 2026 represented by: Alan Crane, Esq. In re Anthony Paul Galluscio Bankr. M.D. Fla. Case No. 26-03233 Chapter 11 Petition filed May 1, 2026 represented by: Alan Crane, Esq. In re Gourmet Fruit Inc. Bankr. E.D.N.Y. Case No. 26-42162 Chapter 11 Petition filed May 1, 2026 See https://www.pacermonitor.com/view/LE7ZLKI/Gourmet_Fruit_INC__nyebke-26-42162__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Louie Deli Inc. Bankr. E.D.N.Y. Case No. 26-42163 Chapter 11 Petition filed May 1, 2026 See https://www.pacermonitor.com/view/4MAQ57Y/Louie_Deli_Inc__nyebke-26-42163__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Sweetberry Ave Corp Bankr. E.D.N.Y. Case No. 26-71733 Chapter 11 Petition filed May 1, 2026 See https://www.pacermonitor.com/view/OUSJO4Y/Sweetberry_Ave_Corp__nyebke-26-71733__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re William G Vergakis Bankr. E.D.N.Y. Case No. 26-71731 Chapter 11 Petition filed May 1, 2026 represented by: Fred Kantrow, Esq. THE KANTROW LAW GROUP, PLLC In re Jazz Apparel's International Inc. Bankr. S.D.N.Y. Case No. 26-11012 Chapter 11 Petition filed May 1, 2026 See https://www.pacermonitor.com/view/XKXSSIA/Jazz_Apparels_International_Inc__nysbke-26-11012__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re McGeachy Holding LLC Bankr. E.D.N.C. Case No. 26-01995 Chapter 11 Petition filed May 1, 2026 See https://www.pacermonitor.com/view/4H2DEZI/McGeachy_Holding_LLC__ncebke-26-01995__0001.0.pdf?mcid=tGE4TAMA represented by: Laurie B. Biggs, Esq. BIGGS LAW FIRM PLLC E-mail: lbiggs@biggslawnc.com In re CoreFit, L.L.C. Bankr. E.D. Pa. Case No. 26-11923 Chapter 11 Petition filed May 1, 2026 See https://www.pacermonitor.com/view/E6YCIRA/CoreFit_LLC__paebke-26-11923__0001.0.pdf?mcid=tGE4TAMA represented by: David B. Smith, Esq. SMITH KANE HOLMAN, LLC E-mail: dsmith@skhlaw.com In re Deven Jordan Development LLC Bankr. W.D. Pa. Case No. 26-21250 Chapter 11 Petition filed May 1, 2026 See https://www.pacermonitor.com/view/2KCI33I/Deven_Jordan_Development_LLC__pawbke-26-21250__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Linda Alvarez Bankr. S.D. Cal. Case No. 26-01973 Chapter 11 Petition filed May 3, 2026 represented by: Bruce Wilson, Esq. In re 3E Eight LLC Bankr. S.D. Fla. Case No. 26-15765 Chapter 11 Petition filed May 3, 2026 See https://www.pacermonitor.com/view/VORUJLI/3E_Eight_LLC__flsbke-26-15765__0001.0.pdf?mcid=tGE4TAMA represented by: Aubrey Rudd Esq. Email: aubreyruddlaw@gmail.com In re Green Leasing and Management, Inc. Bankr. W.D.N.Y. Case No. 26-10553 Chapter 11 Petition filed May 3, 2026 See https://www.pacermonitor.com/view/Z3VXODA/Green_Leasing_and_Management_Inc__nywbke-26-10553__0001.0.pdf?mcid=tGE4TAMA represented by: James M. Joyce, Esq. Email: Jmjoyce@lawyer.com In re Hye Nurses Home Health, Inc. Bankr. C.D. Cal. Case No. 26-10955 Chapter 11 Petition filed May 4, 2026 See https://www.pacermonitor.com/view/KZWOUZQ/Hye_Nurses_Home_Health_Inc__cacbke-26-10955__0001.0.pdf?mcid=tGE4TAMA represented by: Cyrus Zal, Esq. CYRUS ZAL, A PROFESSIONAL CORPORATION Email: czal47@comcast.net In re Amir Rahnama and Pouneh Hamidieh Bankr. C.D. Cal. Case No. 26-10655 Chapter 11 Petition filed May 4, 2026 represented by: Michael Totaro, Esq. TOTARO & SHANAHAN, LLP In re Geoffrey Murphy and Nicole Suzanne Murphy Bankr. E.D. Cal. Case No. 26-22557 Chapter 11 Petition filed May 4, 2026 represented by: Arasto Farsad, Esq. In re Kingstown Green Inc. Eco-Friendly Casket Bankr. D. Conn. Case No. 26-20448 Chapter 11 Petition filed May 4, 2026 See https://www.pacermonitor.com/view/OV7UZSY/KINGSTOWN_GREEN_INC_ECO-FRIENDLY__ctbke-26-20448__0001.0.pdf?mcid=tGE4TAMA represented by: Joseph J. D'Agostino, Jr. LAW OFFICES OF JOSEPH J. D'AGOSTINO JR., LLC Email: joseph@lawjjd.com In re 289 Westlake LLC Bankr. N.D. Ga. Case No. 26-55889 Chapter 11 Petition filed May 4, 2026 See https://www.pacermonitor.com/view/7WPLRXI/289_Westlake_LLC__ganbke-26-55889__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Kenneth B Walker Residential Homes, Inc. Bankr. M.D. Ga. Case No. 26-40340 Chapter 11 Petition filed May 4, 2026 See https://www.pacermonitor.com/view/NZSMB4Q/Kenneth_B_Walker_Residential_Homes__gambke-26-40340__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Ellis International Holdings Bankr. N.D. Ga. Case No. 26-55913 Chapter 11 Petition filed May 4, 2026 See https://www.pacermonitor.com/view/ORXWF2Q/Ellis_International_Holdings__ganbke-26-55913__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re GoodDirt Realty LLC Bankr. N.D. Ga. Case No. 26-55892 Chapter 11 Petition filed May 4, 2026 See https://www.pacermonitor.com/view/7R4FUOY/GoodDirt_Realty_LLC__ganbke-26-55892__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Steven William Irmscher and Dawn Forrester Irmscher Bankr. N.D. Ga. Case No. 26-40730 Chapter 11 Petition filed May 4, 2026 represented by: Paul Reece Marr, Esq. PAUL REECE MARR, PC In re JXC Enterprises LLC Bankr. N.D. Ga. Case No. 26-55846 Chapter 11 Petition filed May 4, 2026 See https://www.pacermonitor.com/view/6EMNJOI/JXC_Enterprises_LLC__ganbke-26-55846__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re L'oreal's Investment Group LLC Bankr. N.D. Ga. Case No. 26-55906 Chapter 11 Petition filed May 4, 2026 See https://www.pacermonitor.com/view/2GW6BEY/Loreals_Investment_Group_LLC__ganbke-26-55906__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Mull Moves LLC Bankr. N.D. Ga. Case No. 26-55885 Chapter 11 Petition filed May 4, 2026 See https://www.pacermonitor.com/view/25OBWDY/Mull_Moves_LLC__ganbke-26-55885__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re New Brittain, LLC Bankr. N.D. Ga. Case No. 26-55936 Chapter 11 Petition filed May 4, 2026 See https://www.pacermonitor.com/view/ANTC57I/New_Brittain_LLC__ganbke-26-55936__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Realty Solutions Systems Bankr. N.D. Ga. Case No. 26-55932 Chapter 11 Petition filed May 4, 2026 See https://www.pacermonitor.com/view/67XPYDQ/Realty_Solutions_Systems__ganbke-26-55932__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Discovery Woods Farms, LLC Bankr. S.D. Ga. Case No. 26-30061 Chapter 11 Petition filed May 4, 2026 See https://www.pacermonitor.com/view/S3TBO5Q/Discovery_Woods_Farms_LLC__gasbke-26-30061__0001.0.pdf?mcid=tGE4TAMA represented by: Daniel L. Wilder, Esq. EMMETT L GOODMAN JR LLC Email: bkydept@goodmanlaw.org In re Steven James Killion Bankr. D. Idaho Case No. 26-40255 Chapter 11 Petition filed May 4, 2026 represented by: Patrick Geile, Esq. In re Para-Med Medical Transportation, Inc. Bankr. D. Md. Case No. 26-14795 Chapter 11 Petition filed May 4, 2026 See https://www.pacermonitor.com/view/VR3XRYY/Para-Med_Medical_Transportation__mdbke-26-14795__0001.0.pdf?mcid=tGE4TAMA represented by: Stephen A. Metz, Esq. OFFIT KURMAN, P.A. Email: smetz@offitkurman.com In re Murphy's Concrete L.L.C. Bankr. D. Nev. Case No. 26-50446 Chapter 11 Petition filed May 4, 2026 See https://www.pacermonitor.com/view/LGMDOXQ/MURPHYS_CONCRETE_LLC__nvbke-26-50446__0001.0.pdf?mcid=tGE4TAMA represented by: Kevin A. Darby, Esq. DARBY LAW PRACTICE, LTD. Email: kevin@darbylawpractice.com In re Paul-Marie J. Brisson Bankr. S.D.N.Y. Case No. 26-11045 Chapter 11 Petition filed May 4, 2026 represented by: Anthony Sodono, Esq. In re Daniel J. Dunn Bankr. E.D.N.C. Case No. 26-02019 Chapter 11 Petition filed May 4, 2026 represented by: George Oliver, Esq. THE LAW OFFICES OF GEORGE OLIVER, PLLC In re Ellis G. Guiles, Jr. Bankr. E.D. Pa. Case No. 26-11954 Chapter 11 Petition filed May 4, 2026 represented by: Henry Jaffe, Esq. In re One Doorknob at a Time, LLC Bankr. E.D. Pa. Case No. 26-11969 Chapter 11 Petition filed May 4, 2026 See https://www.pacermonitor.com/view/SOROGAQ/ONE_DOORKNOB_AT_A_TIME_LLC__paebke-26-11969__0001.0.pdf?mcid=tGE4TAMA represented by: Maggie Soboleski, Esq. CENTER CITY LAW OFFICES, LLC Email: msoboles@yahoo.com In re Familytime Mansfield Bankr. N.D. Tex. Case No. 26-41974 Chapter 11 Petition filed May 4, 2026 See https://www.pacermonitor.com/view/62ODYFY/Familytime_Mansfield__txnbke-26-41974__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re MAR Enterprises, LLC Bankr. S.D. Tex. Case No. 26-70123 Chapter 11 Petition filed May 4, 2026 See https://www.pacermonitor.com/view/FT6OEVY/MAR_Enterprises_LLC__txsbke-26-70123__0001.0.pdf?mcid=tGE4TAMA represented by: Marcos Demetrio Oliva, Esq. MARCOS D. OLIVA, PC Email: marcos@oliva.law In re SA Pool Construction, Inc. Bankr. W.D. Tex. Case No. 26-51198 Chapter 11 Petition filed May 4, 2026 See https://www.pacermonitor.com/view/IBIATDA/SA_Pool_Construction_Inc__txwbke-26-51198__0001.0.pdf?mcid=tGE4TAMA represented by: Dean Greer, Esq. WEST & WEST ATTORNEYS AT LAW, P.C. Email: dean@dwgreerlaw.com In re Benny N. Sena and Armine Sena Bankr. W.D. Wash. Case No. 26-11490 Chapter 11 Petition filed May 4, 2026 represented by: Thomas Neeleman, Esq. NEELEMAN LAW GROUP, P.C. ********* 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 ***