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260625.mbx T R O U B L E D C O M P A N Y R E P O R T E R Thursday, June 25, 2026, Vol. 30, No. 176 Headlines 1-800-DOCTORS INC: Case Summary & 20 Largest Unsecured Creditors 1300 DESERT: Plan Administrator Taps CBRE as Real Estate Agent 137 COLLEGE: Case Summary & Five Unsecured Creditors 145 NAVARRO: San Antonio Properties Sale to Multiple Buyers OK'd 1960 DALLAS: Colorado Apartment Bldg. Placed Back in Receivership 2050 BATH: Seeks Cash Collateral Access 28 HOWARD: Case Summary & Three Unsecured Creditors 3 FIFTHS HOLDINGS: Unsecureds Will Get 100% of Claims in Plan 303 CLFX LLC: Case Summary & 20 Largest Unsecured Creditors 4 OEM PLASTICS: Seeks to Hire Shannon Lee Beatty as Legal Counsel 4918 EXPRESS: Initiates Chapter 7 Bankruptcy in New York 69 HORTON: Case Summary & Five Unsecured Creditors 85 HORTON: Case Summary & Four Unsecured Creditors 97 & 99 PROSPECT: Gets Interim OK to Use Cash Collateral A'LEURER LLC: Seeks Court Approval to Hire NS CPA as Accountant ACADEMY OF VOLLEYBALL: Gets Final OK to Use Cash Collateral ADAGIO MEDICAL: Stockholders Elect Directors, Ratify Auditor ADUDDELL INDUSTRIES: Seeks to Hire Ordinary Course Professionals ADVANCED URGENT: Court Affirms Award of Attorney's Fees, Costs ALTAMAHA D.M.E: Seeks to Extend Plan Exclusivity to Oct. 21 AMERICAN MEDICAL: AlphaCare Loses Bid to Amend Proof of Claim ANOINTED TOUCH: Seeks to Extend Plan Filing Deadline to July 27 ARCOSA INC: S&P Places 'BB' Issuer Credit Rating on Watch Positive ASHFORD HOSPITALITY: Unit Sells Jacksonville Hotel for $11.3M ATEG ENTERPRISES: To Sell Hwy 181 Property to KSDS 2025 Investments ATLANTIC & PACIFIC: Court Issues Ruling in McKesson Systems Case AVENGER FLIGHT: Court Okays Chapter 11 Liquidation Plan AXIP ENERGY: Secures Approval for Chapter 11 Wind-Down Plan BALLAST DESIGN: To Sell Atlanta Property to Kurt Jackson and Morgan BAYLIE'S SQUARE: Amy Denton Mayer Named Subchapter V Trustee BERKSHIRE LAND: Voluntary Chapter 11 Case Summary BITCOIN DEPOT: Taps Thomas Studebaker of Triple P TRS as CRO BOY SCOUTS: Court Narrows Claims in Insurance Coverage Dispute BOY SCOUTS: Trustee Seeks Turnover of $211MM from Insurers BRD LAND: Claims to be Paid from Property Sale Proceeds BREASHEARS ROOFING: Taps Kutner Brinen Dickey Riley as Counsel BRIGHT MOUNTAIN: Sells Mom.com Domain to Static Media for $1.1-Mil. BROADWAY LEARNING: Seeks to Hire Baker & Associates as Counsel BYJU'S ALPHA: Motion to Dismiss OCI, et al. Case Held in Abeyance CALIFORNIA RESOURCES: Fitch Rates New $550MM Unsec. Notes 'BB-' CATTLE CARTEL: Gets Final OK to Use Cash Collateral CHANNEL OP: Seeks to Tap Trader Orton and Spangler as Accountant CHEMCAT ACQUISITIONCO: S&P Assigns 'B' ICR, Outlook Stable COMMUNITY HOUSE: Birmingham Property Sale to Birmingham City OK'd CORE & MAIN: S&P Affirms 'BB' ICR on Refinancing, Outlook Stable CROSBY MARINE: Court Narrows Claims in Meged Funding, et al. Case D 5030 WESTMINSTER: Seeks Chapter 11 Bankruptcy in Texas DCA OUTDOOR: Buckner Property Sale to Zach & Kathryn Wharton OK'd DEALER TIRE: S&P Rates New First-Lien Senior Secured Revolver 'B-' DEDICATION & EVERLASTING: Seeks Cash Collateral Access Thru Oct 31 DELTA STEEL: Scott Sackett Named Subchapter V Trustee DESIGN MOVES: Carol Fox of GlassRatner Named Subchapter V Trustee DIAMOND ELITE: Seeks to Hire Mitchell J. Canter as Legal Counsel DIOCESE OF EL PASO: Committee Hires Berkeley as Financial Advisor DIOCESE OF EL PASO: Committee Taps Stout Risius as Valuation Expert DORADO PUTT: Promethean Fund Wins Dismissal of Bankruptcy Case EDEN ROC: Voluntary Chapter 11 Case Summary ELCORP LLC: Case Summary & Four Unsecured Creditors EMMERICH NEWSPAPERS: Has Until June 26 to File Chapter 11 Plan EVERGREEN BUILDING: Gets Final OK to Use Cash Collateral F-STAR SOCORRO: Committee Hires Kutak Rock as Bankruptcy Counsel FAIR OFFER: Tennessee Properties Sale to Multiple Buyers OK'd FRESHREALM INC: Committee Taps Fox Rothschild LLP as Legal Counsel GAIA PURCHASER: Fitch Assigns 'BB(EXP)' IDR, Outlook Stable GEBBERS FARMS: Seeks Chapter 11 Bankruptcy in Washington GRAVITAS NW: U.S. Trustee Wants Chapter 11 Case Dismissed GROUND WEST: Gets Interim OK to Use Cash Collateral HAK ENTERPRISES: Successor Subchapter V Trustee Appointed HALL'S GAS SERVICES: Gets Interim OK to Use Cash Collateral HARDCORE CONCRETE: Seeks to Hire Ford & Semach as General Counsel HARLING INC: Court Extends Cash Collateral Access to July 3 HARLOW ENTERPRISES: Plan Exclusivity Period Extended to July 18 HAWTHORNE RACE: Seeks to Extend Plan Exclusivity to Oct. 26 HAZE HOSPITALITY: Seeks to Hire Hedgestone Business as Broker HEAL BY TOUCH: Gets Interim OK to Use Cash Collateral HEAL BY TOUCH: Seeks to Hire Ford & Semach as Bankruptcy Counsel HIGHLAND HOMES: Tarek Kiem of Kiem Law Named Subchapter V Trustee HOLLY INVESTMENT: Case Summary & One Unsecured Creditor HPC MOTORSPORTS: Gets Final OK to Use Cash Collateral J GROUP: Commences Chapter 7 Bankruptcy in Georgia J.B. HARRIS: Case Summary & Five Unsecured Creditors JESUS IS LORD: Seeks to Tap McKinley Onua & Associates as Counsel JJ&D INVESTMENTS: Seeks Chapter 11 Bankruptcy in Nevada JTD ENTERPRISES: Seeks to Hire Schick CPA Staff as Accountant JTRE 14: To Sell West 72nd Street Property to Morgan Barrington KARTOON STUDIOS: Court OKs $50M Deal With Additional Settling Party KEEL LABS: Seeks to Tap Hendren Redwine & Malone as Legal Counsel KENNETH B. WALKER: Seeks to Hire Boyer Terry as Bankruptcy Counsel LINDY'S ON 4TH: Seeks Subchapter V Bankruptcy in Arizona LITHOTYPE COMPANY: Plan Exclusivity Period Extended to Oct. 7 LORENZO'S DOG: Gets Interim OK to Use Cash Collateral LUNAI BIOWORKS: Nasdaq Panel Confirms Bid Price Compliance LURIN REAL: Committee Hires Pachulski Stang Ziehl as Counsel LURIN REAL: Committee Seeks to Tap Province as Financial Advisor LYNSKEY PERFORMANCE: Gets Interim OK to Use Cash Collateral MALO ES NA: Seeks to Tap Antoan Figueroa Hernandez as Legal Counsel MARYLAND HEALTH: Court Extends Cash Collateral Access to Sept. 27 MBK HOLDINGS: D. Adelsperger Named Successor Subchapter V Trustee METALWORKING LUBRICANTS: Taps Steinberg Shapiro & Clark as Counsel MIRA PHARMACEUTICALS: Submits Ketamir-2 Trial Plan MIRACLE TEMPLE: Angela Shortall Named Subchapter V Trustee MIS ACQUISITION: Fitch Rates Proposed $955 Million Loans 'BB-' MODIVCARE INC: Court Rejects Bid to Stay Escrow Order on Appeal MOMONA PROPERTIES: Seeks to Hire McNamee Hosea as General Counsel MORE THAN A PRINTER: Court OKs $250K Interim DIP Loan From Aspen MOUNTAIN REGIONAL: Plan Exclusivity Period Extended to July 16 MUNAWAR LAW: Has Deal on Cash Collateral Access MUTINY BBQ: Seeks to Hire I. Mark Cohen Law Group as Legal Counsel NANO PHARMACEUTICAL: Gets Final OK to Use Cash Collateral NASH ENGINEERING: Court Lifts Ch. 11 Stay of Asbestos Suit NETCAPITAL INC: Closes FirstFire Financing, Nets $224,500 in Cash NEWBURY POWER: Withdraws Motion to Sell Bridgeville Property NEXT LEVEL: Daniel Etlinger Named Subchapter V Trustee OBJECT & SUBJECT: Continued Operations to Fund Plan Payments OLYMPIA BLOCK: Case Summary & Five Unsecured Creditors ONYX PORTFOLIO: Gets Extension to Access Cash Collateral OTB HOSPITALITY: Seeks Chapter 7 Bankruptcy in Texas PALMAIRE AVE: Gets Interim OK to Use Cash Collateral PCMZ NUTRA: Gets Interim OK to Use Cash Collateral PHUONG VO: Gets Interim OK to Use Cash Collateral PLEASE & THANK: Seeks to Hire Seiller Waterman as General Counsel POWER LANE: Voluntary Chapter 11 Case Summary PRINCE GLOBAL: Injunction Adjusted in Chapter 15 Dispute PROTRADE LOGISTICS: Logistics Asset Sale to Exhibitway Logistics PSI SERVICES: Seeks to Hire Transwestern Carey Winston as Broker R AND PS: Commences Chapter 7 Bankruptcy in Pennsylvania R INTERCONNECTIONS: Gets Final OK to Use Cash Collateral RACINE SD: Seeks Chapter 7 Bankruptcy in Ohio RAF PROPERTIES: Commences Chapter 11 Bankruptcy in Maine REYNOLDS CONSUMER: Fitch Affirms 'BB+' LongTerm IDR, Outlook Stable RITCHEY'S TRUCK: Michael Markham Named Subchapter V Trustee SABLE OFFSHORE: Launches $1B Term Loan to Replace Exxon Mobil Loan SAILORMEN INC: Florida Court OKs $16MM Sale of Popeyes Locations SANGAMO THERAPEUTICS: Gene Therapy Developer Seeks Ch.11 Bankruptcy SCHRAPPER'S FINE: Linda Leali Named Subchapter V Trustee SEASTAR MEDICAL: Stockholders Back Incentive Plan Increase SHANNON WIND: Plan Exclusivity Period Extended to Aug. 24 SL 7200: Seeks Chapter 11 Bankruptcy in Texas SLEEP NUMBER: Gets Interim OK for DIP Financing SONOMA PHARMACEUTICALS: Posts $3.18MM FY26 Loss, Liquidity Improves SORRENTO THERAPEUTICS: RICO Claims Against Jackson Walker Dismissed SOUTHERN POINTE: Seeks Chapter 11 Bankruptcy in Louisiana SPANISH BROADCASTING: IRS, FCC Say Chapter 11 Plan Falls Short SPIRIT AVIATION: Court OKs Aviation Asset Sale at Auction SPOKANE INDUSTRIES: Seeks Cash Collateral, $500,000 DIP Loan SQUARE ONE: To Sell Welch Way Property to Wendell Smith for $515K STEWARD HEALTH: Trust Seeks Recovery of $22MM From Buyers TEAM SYSTEMS: Ch. 7 Trustee Seeks Default Judgment THOMAS TRIO: Court Extends Cash Collateral Access to July 22 TOLLANIS TECHNOLOGY: Case Summary & Eight Unsecured Creditors TOUCHSTONE LOGISTICS: Stephen Metz Named Subchapter V Trustee TROVE BREWING: Seeks Subchapter V Bankruptcy in Minnesota UNCLE NEAREST: Court OKs Sale of Martha's Vineyard URBAN ONE: CFO Thompson Signs New Employment Deal Through Jan 2029 URBAN ONE: Six Directors Elected at Annual Meeting WAKESTONE ENTERPRISES: Commences Chapter 7 Bankruptcy in N.C. WESTSIDE TOW: Seeks to Use Cash Collateral Until Sept. 30 WORKFORCE RESOURCE: Gets Interim OK to Use Cash Collateral WORKHORSE GROUP: Amends Credit Deals, Adjusts Commitments ZYTOUN GOURMET: Case Summary & 11 Unsecured Creditors ZYTOUN GOURMET: Seeks Chapter 11 Bankruptcy in California [^] Recent Small-Dollar & Individual Chapter 11 Filings ********* 1-800-DOCTORS INC: Case Summary & 20 Largest Unsecured Creditors ---------------------------------------------------------------- Debtor: 1-800-Doctors, Inc. 556 Tomahawk Court Palm Beach Gardens, FL 33410 Business Description: 1-800-Doctors, Inc. is a Palm Beach Gardens, Florida-based health care referral and medical marketing company that operates a doctor-referral platform connecting consumers with health care professionals through internet, telephony and related digital services. Chapter 11 Petition Date: June 19, 2026 Court: United States Bankruptcy Court Southern District of Florida Case No.: 26-18090 Debtor's Counsel: Brian K. McMahon, Esq. BRIAN K. MCMAHON, PA 1401 Forum Way Suite 730 West Palm Beach, FL 33401 Tel: 561-478-2500 Email: briankmcmahon@gmail.com Total Assets: $568,168 Total Liabilities: $92,539,090 The petition was signed by Jerry Brager as president. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/ZKMG53Q/1-800-Doctors_Inc__flsbke-26-18090__0001.0.pdf?mcid=tGE4TAMA List of Debtor's 20 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount 1. A Brager Accrued Salary $854,950 556 Tomahawk Ct Palm Beach Gardens, FL 33410 2. Cossman Law Legal Services $400,000 48 Tinley Road Brookside, NJ 07926 3. D Snelson Accrued Salary $816,000 25 Green Trail Ct Bluffton, SC 29910 4. Donna Weber Loan & Accrued $1,438,802 3440 Golding Green Dr Salary Farmers Branch, TX 75234 5. Doug Tanner Loans & Accrued $3,209,299 5569 Oslo Lane Salary Park City, UT 84098 6. Dr J Parekh Consulting Fee $382,220 1031 McBride Ave Woodland Park, NJ 07424 7. Eduardo & Brenda Trujillo Loan $500,000 771 Van Schoick Road Holmdel, NJ 07733 8. Frank Family Loan $23,701,829 109 E 91st St New York, NY 10019 9. Grant Family Loan $1,676,077 6800 W 115th St Leawood, KS 66211 10. Hackensack Loan $7,748,908 Meridian Health 343 Thornhall St, 8th FL Edison, NJ 08837 11. Jerry Brager Loan & Accrued $13,084,771 556 Tomahawk Ct Salary Palm Beach Gardens, FL 33410 12. John Lloyd Loan $424,876 11 Mohawk Ave Oceanport, NJ 07757 13. Lloyd Chesney Consulting Fees $1,079,000 1158 S Town & River Rd Fort Myers, FL 33919 14. M Knudsen Accrued Salary $254,245 79 Lee Ave Hopelawn, NJ 08861 15. Meridian Health Loan $650,000 Management, Inc. 343 Thornall Street, 8th FL Edison, NJ 08837 16. MM/JF LLC 2016 $19,500,000 10 Lorraine Ave Spring Lake, NJ 07762 17. Peter Cossman Loan & Accrued $9,545,486 48 Tingley Road Salary Brookside, NJ 07926 18. Professional Orthopaedic Loan $400,000 Investment, LLC 776 Shrewbury Ave, Ste 201 Eatontown, NJ 07724 19. T Sawyer Accrued Salary $717,800 31 Emerson Rd Larchmont, NY 10538 20. Thomas Grant Loan $301,815 6800 W 115th St Overland Park, KS 66211 1300 DESERT: Plan Administrator Taps CBRE as Real Estate Agent -------------------------------------------------------------- Cascade Capital Group, LLC, the plan administrator in the Chapter 11 case of 1300 Desert Willow Road, LLC, seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to employ CBRE, Inc. as real estate agent. The firm will render these services: (a) advise the plan administrator on any questions or issues regarding the sales and marketing process; (b) engage with potential third-party bidders as a sale transaction is negotiated and ultimately executed; (c) advise the plan administrator on strategies for negotiating with potential bidders; (d) participate in meetings or negotiations with the plan administrator and potential bidders and other stakeholders in connection with potential sale transactions; (e) advise and assist the plan administrator in evaluating and comparing potential bids; (f) provide testimony, as necessary, with respect to matters on which CBRE has been engaged to advise hereunder in any proceeding before the Court; and (g) provide other services CBRE and the plan administrator agree are necessary or beneficial to the sale and marketing process as provided. The firm will receive a commission of 3 percent of the property's gross sales price. Jim Chynoweth, a managing director at CBRE, 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: Jim Chynoweth CBRE, Inc. 6565 Americas Pkwy. New, Suite 825 Albuquerque, NM 87110 Telephone: (505) 837-4999 About 1300 Desert Willow Road 1300 Desert Willow Road, LLC owns a property at 1300 Desert Willow Road in Los Lunas, New Mexico, valued at $40 million. 1300 Desert Willow Road sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-11375) on June 22, 2025. In its petition, the Debtor reported between $10 million and $50 million in assets and liabilities. Judge Philip Bentley oversees the case. The Debtor is represented by H. Bruce Bronson, Esq., at Bronson Law Offices, PC. Romspen Investment LP, as lender, is represented by: Brigid K. Ndege, Esq. Bryan Cave Leighton Paisner, LLP 161 North Clark Street, Suite 4300 Chicago, Illinois 60601 Telephone: (312) 602-5000 Facsimile: (312) 602-5050 E-mail: brigid.ndege@bclplaw.com 137 COLLEGE: Case Summary & Five Unsecured Creditors ---------------------------------------------------- Debtor: 137 College LLC 137 College St. Lewiston ME 04240 Business Description: 137 College LLC is a single-asset real estate entity, as defined in 11 U.S.C. Section 101(51B), that owns and leases one income-producing property. Chapter 11 Petition Date: June 17, 2026 Court: United States Bankruptcy Court District of Maine Case No.: 26-20177 Judge: Hon. Peter G Cary Debtor's Counsel: Sam Anderson, Esq. BERNSTEIN SHUR SAWYER & NELSON, P.A. 100 Middle Street P.O. Box 9729 Portland ME 04101 Tel: 207-774-1200 Email: sanderson@bernsteinshur.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $10 million to $50 million The petition was signed by Rudolph M. Ferrante as sole member. A full-text copy of the petition, which includes a list of the Debtor's five unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/BHMCIXI/137_College_LLC__mebke-26-20177__0001.0.pdf?mcid=tGE4TAMA 145 NAVARRO: San Antonio Properties Sale to Multiple Buyers OK'd ---------------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, has granted 145 Navarro LLC to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor is a real estate development company whose primary asset is the a historic eight-story office building located in downtown San Antonio, Texas (Navarro Building), together with related fixtures, furniture, and personal property. The Debtor also owns approximately one-half of the parking garage attached to the Navarro Building (Garage Property). The Court has authorized the Debtor to sell the Navarro Property to 145 Navarro Hotel LLC for $32 million, and the Garage Property to ERC Acquisitions IV, LLC. ERC has, as documented with filed stipulations, paid to RRP and advanced to the Debtor, as applicable, over $4,300,000 in extension payments, RRP Loan participations, and protective advances in order to bridge closing of the previously approved transaction. The proposed dual-track modification is the result of joint efforts by the Debtor, RRP, and ERC to find a solution that maximizes value for all parties while facilitating certainty of closing. The Debtor owns good, sufficient, and marketable title to the Property, subject to any and all claims, interests, liens, and encumbrances as may otherwise exist. The ERC will release the ERC Secured Claim and ERC Liens (excluding the Baron Creek Tax Claim, which will be paid in cash) to the extent not paid in full from the Purchase Price, subject to any adjustments as provided in the Garage PSA. Debtor has exercised sound business judgment in negotiating and proposing the sale of the Garage Property and the sale meets the "entire fairness" standard. Debtor and Hotel negotiated, proposed, and entered into the Hotel PSA without collusion, in good faith, and from arms' length bargaining positions as to the purchase price. Debtor and ERC negotiated, proposed, and entered into the Garage PSA without collusion, in good faith, and from arms' length bargaining positions. The Financing Transaction is authorized to close on or before the Financing Transaction Closing Date of July 15, 2026. Upon closing of either the Financing Transaction or the ERC Sale, ERC shall receive conveyance of the Garage Property free and clear of all liens, claims, interests, and encumbrances. Following the approval by Debtor, Hotel, Riverwalk, and ERC of the closing statement for the Sale of the Navarro Property prior to the Closing, Debtor or its representative or designee is authorized and directed to utilize and disburse the proceeds of the Sale of the Navarro Property as set forth in the Closing Statement and the Order. About 145 Navarro LLC 145 Navarro LLC is a limited liability company. 145 Navarro LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90011) on February 18, 2025. In its petition, the Debtor reports estimated assets and liabilities between $10 million and $50 million each. Honorable Bankruptcy Judge Christopher M. Lopez handles the case. The Debtor is represented by Susan Tran Adams, Esq. at Tran Singh, LLP. 1960 DALLAS: Colorado Apartment Bldg. Placed Back in Receivership ----------------------------------------------------------------- Thomas Gounley of BusinessDen reports that a court has placed a 32-unit Aurora apartment building back into receivership after the property failed to sell following its owner's bankruptcy reorganization. Kevin Singer of Receivership Specialists was appointed receiver on June 13, 2026 to manage the building at 1960 Dallas St. The property, owned by 1960 Dallas Street LLC, was purchased in October 2019 for about $3 million. Located near the popular Stanley Marketplace district, the building previously underwent restructuring efforts through bankruptcy court in an attempt to resolve financial difficulties. Following the unsuccessful sale process, the court-approved receivership transfers operational oversight of the property to an independent manager. The receiver is charged with preserving the asset, managing tenant relations, and protecting creditor interests. The renewed receivership demonstrates the ongoing difficulties some apartment owners face in executing exit strategies after bankruptcy despite obtaining court-approved reorganization plans. About 1960 Dallas Street LLC 1960 Dallas Street LLC is a single asset real estate company. 1960 Dallas Street LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-10134) on January 09, 2026. In its petition, the Debtor reports estimated assets of up to $100,000 and estimated liabilities of up to $10 million. The case is assigned to Honorable Thomas B. McNamara. The Debtor is represented by Steven T. Mulligan, Esq., at Coan, Payton & Payne, LLC. 2050 BATH: Seeks Cash Collateral Access --------------------------------------- 2050 Bath Ave LLC asks the U.S. Bankruptcy Court for the Eastern District of New York for authority to use cash collateral and provide adequate protection. The Debtor asserts that the rental income from its property is subject to an assignment of rents and security interest held by its sole secured lender, TLOA Mortgage LLC, which provided financing under a March 2022 mortgage in the original amount of approximately $1.4 million and later perfected its interest through an assignment of leases and rents recorded in March 2026. The Debtor requests authorization to use the collected rents as cash collateral to fund ongoing property operations and support its reorganization efforts, arguing that without such use it would be unable to maintain the property or make adequate protection payments, thereby jeopardizing a successful Chapter 11 restructuring. As part of the proposed relief, the Debtor commits to paying TLOA monthly adequate protection payments of $7,918, which corresponds to the prepetition mortgage payment amount, with the intent of preserving the status quo and covering interest while also reducing principal over time. The Debtor proposes to deposit all rental income into debtor-in-possession accounts and use those funds according to a budget to pay operating expenses such as utilities, maintenance, taxes, and mortgage obligations, while retaining reserves for emergencies and plan funding. The Debtor explains that the requested use of cash collateral is necessary to avoid immediate and irreparable harm, preserve the value of the property as a going concern, and facilitate either a reorganization or potential alternative restructuring strategy. In addition to monthly payments, the Debtor offers replacement liens in post-petition assets and proceeds as further adequate protection, ensuring that TLOA's secured position is not worsened during the case. A copy of the motion is available at https://urlcurt.com/u?l=H7efR7 from PacerMonitor.com. About 2050 Bath Ave LLC 2050 Bath Ave LLC is a Brooklyn, New York-based single-asset real estate entity that owns a three-story mixed-use property at 2050 Bath Avenue, also known as 161 Bay 26th Street, in Brooklyn's Bath Beach neighborhood. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.Y. Case No. 26-42831) on June 9, 2026. In the petition signed by Zakia Khan, sole member, the Debtor disclosed $2,359,927 in total assets and $1,100,000 in total liabilities. Judge Jil Mazer-Marino oversees the case. Ronald D. Weiss, Esq., at RONALD D. WEISS, P.C., represents the Debtor as legal counsel. 28 HOWARD: Case Summary & Three Unsecured Creditors --------------------------------------------------- Debtor: 28 Howard LLC 28 Howard St. Lewiston ME 04240 Business Description: 28 Howard LLC is a real estate company that owns and leases one property. Chapter 11 Petition Date: June 17, 2026 Court: United States Bankruptcy Court District of Maine Case No.: 26-20180 Judge: Hon. Peter G Cary Debtor's Counsel: Sam Anderson, Esq. BERNSTEIN SHUR SAWYER & NELSON, P.A. 100 Middle Street P.O. Box 9729 Portland ME 04101 Tel: 207-774-1200 E-mail: sanderson@bernsteinshur.com Estimated Assets: $500,000 to $1 million Estimated Liabilities: $10 million to $50 million The petition was signed by Rudolph M. Ferrante as sole member. A full-text copy of the petition, which includes a list of the Debtor's three unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/M5A7I4Q/28_Howard_LLC__mebke-26-20180__0001.0.pdf?mcid=tGE4TAMA 3 FIFTHS HOLDINGS: Unsecureds Will Get 100% of Claims in Plan ------------------------------------------------------------- 3 Fifths Holdings LLC filed with the U.S. Bankruptcy Court for the Middle District of Florida a Disclosure Statement in support of Plan of Reorganization dated June 12, 2026. The Debtor is a Florida limited liability company whose primary business is the ownership and operation of residential rental real estate. The Debtor owns and operates a residential rental property located at: 2311 NW 21 Place Cape Coral, Florida 33993. The property is currently leased and generates approximately $3,500.00 per month in gross rental income. The Debtor filed this Chapter 11 case to preserve this income-producing asset while restructuring its obligations through a feasible plan of reorganization. The Debtor estimates the current fair market value of the property to be approximately $350,000.00. Dan Partners Limited shall retain its mortgage lien and receive monthly payments of $2,500.00 for thirty-six months following confirmation of the Plan. On or before the expiration of the thirty-six-month period, the Debtor shall refinance the property or otherwise obtain financing sufficient to pay the remaining balance owed to Dan Partners Limited in full. Class 3 consists of General Unsecured Claims. All allowed unsecured claims shall be paid one hundred percent of their allowed amount. Unsecured claims shall be paid from available operating income, refinancing proceeds, or other available funds, and shall be paid in full no later than the refinancing contemplated by this Plan. The Debtor believes that the proposed Plan is feasible and has a reasonable likelihood of successful completion. The property currently produces stable rental income and is expected to continue producing sufficient revenue to maintain operations and fund Plan payments. The Debtor reasonably anticipates that the value of the property will appreciate by approximately 15% to 20% during the 36-month term of the Plan, based upon historical market trends in Southwest Florida and anticipated future market conditions. The Debtor believes that this appreciation will increase the equity available in the property and improve refinancing opportunities. Additionally, if refinancing requires additional borrower equity or reserves, the members of the Debtor have the ability and intent to make additional capital contributions sufficient to facilitate refinancing and satisfy the remaining balance owed to Dan Partners Limited. Based upon continuing rental income, anticipated appreciation of the property, and the availability of additional capital contributions if necessary, the Debtor believes that refinancing within thirty-six months is reasonably achievable and that the proposed Plan satisfies the feasibility requirements of Chapter 11. A full-text copy of the Disclosure Statement dated June 12, 2026 is available at https://urlcurt.com/u?l=0wRncA from PacerMonitor.com at no charge. About 3 Fifths Holdings LLC 3 Fifths Holdings LLC real estate holding company based in Cape Coral, Florida. 3 Fifths Holdings LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 25-01338) on July 16, 2025. In its petition, the Debtor reports estimated assets and liabilities between $100,000 and $500,000. Honorable Bankruptcy Judge Caryl E. Delano handles the case. 303 CLFX LLC: Case Summary & 20 Largest Unsecured Creditors ----------------------------------------------------------- Debtor: 303 CLFX, LLC 1338 E. Colfax Ave. Denver, CO 80218 Business Description: 303 CLFX, LLC operates 303 Boards, an online store and brick-and-mortar skate shops in Colorado, with locations in Denver. The company sells skateboarding products, footwear, apparel, accessories, and gift cards, and offers in-store pickup. It has operated as a brick-and-mortar store since 1997. Chapter 11 Petition Date: June 18, 2026 Court: United States Bankruptcy Court District of Colorado Case No.: 26-14399 Judge: Hon. Michael E Romero Debtor's Counsel: Jonathan M. Dickey, Esq. KUTNER BRINEN DICKEY RILEY PC 1660 Lincoln St. Denver, CO 80264 Tel: (303) 832-2400 E-mail: jmd@kutnerlaw.com Total Assets: $249,931 Total Liabilities: $1,155,969 The petition was signed by Sam Schuman as manager. A copy of the Debtor's list of its 20 largest unsecured creditors is available for free on PacerMonitor at: https://www.pacermonitor.com/view/6S7NW3I/303_CLFX_LLC__cobke-26-14399__0003.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/6YAVLAY/303_CLFX_LLC__cobke-26-14399__0001.0.pdf?mcid=tGE4TAMA 4 OEM PLASTICS: Seeks to Hire Shannon Lee Beatty as Legal Counsel ----------------------------------------------------------------- 4 OEM Plastics LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Shannon Lee Beatty LLP to handle its Chapter 11 case. The firm's counsel and staff will be paid at these hourly rates: Max Beatty, Attorney $775 R. J. Shannon, Attorney $750 Sean Wilson, Attorney $750 Other Partners $750 - $1,000 Associate Attorneys $300 - $600 Non-Lawyer Professionals $50 - $150 In addition, the firm will seek reimbursement for expenses incurred. On or about May 13, 2026, the firm received a single retainer payment in the amount of $20,000 from the Debtor's equity holders. Mr. Shannon 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: R.J. Shannon, Esq. Shannon Lee Beatty LLP 2100 Travis Street, Ste. 1480 Houston, TX 77002 Telephone: (713) 714-5770 Facsimile: (833) 714-5770 Email: rshannon@shannonleellp.com About 4OEM Plastics LLC 4OEM Plastics, LLC is a plastics manufacturer established in 2020 and based in San Antonio, Texas. The company produces plastic corrugated tubing, extruded smooth-wall tubing and profiles, and wiring protection system products including manifolds, interfaces, backshells, cable channels, and cable ducts. Its products are used in markets including automotive, commercial vehicle, marine, rail, automation, medical, industrial, electrical, wind, and distribution applications. The company also plans to add custom injection molding capabilities for injection molded products in late 2026. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 26-33394) on May 13, 2026, with $1,050,634 in assets and $5,445,997 in liabilities as of May 11, 2026. Rajiv Iyengar, chief executive officer, signed the petition. Judge Eduardo V. Rodriguez presides over the case. J. Maxwell Beatty, Esq., at Shannon Lee Beatty, LLP represents the Debtor as legal counsel. 4918 EXPRESS: Initiates Chapter 7 Bankruptcy in New York -------------------------------------------------------- On June 18, 2026, 4918 Express Dr LLC filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Eastern District of New York. According to court filings, the debtor reports between $100,001 and $1 million in debt owed to between 1 and 49 creditors. About 4918 Express Dr LLC 4918 Express Dr LLC is a limited liability company that appears to be engaged in real estate ownership and property-related activities. Additional information regarding its operations was not disclosed in the bankruptcy petition. 4918 Express Dr LLC sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-72476) on June 18, 2026. In its petition, the debtor reported estimated assets of between $100,001 and $1 million and estimated liabilities of between $100,001 and $1 million. Honorable Bankruptcy Judge Louis A. Scarcella handles the case. 69 HORTON: Case Summary & Five Unsecured Creditors -------------------------------------------------- Debtor: 69 Horton LLC 69 Horton St. Lewiston ME 04240 Business Description: 69 Horton LLC is a real estate company that owns and leases one income-producing property. Chapter 11 Petition Date: June 27, 2026 Court: United States Bankruptcy Courtney District of Maine Case No.: 26-20178 Judge: Hon. Peter G Cary Debtor's Counsel: Sam Anderson, Esq. BERNSTEIN SHUR SAWYER & NELSON, P.A. 100 Middle Street P.O. Box 9729 Portland ME 04101 Tel: 207-774-1200 Email: sanderson@bernsteinshur.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $10 million to $50 million The petition was signed by Rudolph M. Ferrante as sole member. A full-text copy of the petition, which includes a list of the Debtor's five unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/KWMILQI/69_Horton_LLC__mebke-26-20178__0001.0.pdf?mcid=tGE4TAMA 85 HORTON: Case Summary & Four Unsecured Creditors -------------------------------------------------- Debtor: 85 Horton LLC 85 Horton St. Lewiston ME 04240 Business Description: 85 Horton LLC is a real estate entity that owns and leases a single property. Chapter 11 Petition Date: June 17, 2026 Court: United States Bankruptcy Courtney District of Maine Case No.: 26-20179 Judge: Hon. Peter G Cary Debtor's Counsel: Sam Anderson, Esq. BERNSTEIN SHUR SAWYER & NELSON, P.A. 100 Middle Street P.O. Box 9729 Portland, ME 04101 Tel: 207-774-1200 E-mail: sanderrson@bernsteinshur.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $10 million to $50 million The petition was signed by Rudolph M. Ferrante as sole 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/OXXET2I/85_Horton_LLC__mebke-26-20179__0001.0.pdf?mcid=tGE4TAMA 97 & 99 PROSPECT: Gets Interim OK to Use Cash Collateral -------------------------------------------------------- 97 & 99 Prospect, LLC received interim approval from the U.S. Bankruptcy Court for the Western District of New York to use cash collateral to fund operations. Under the interim order, the Debtor is authorized to use cash collateral in which secured creditor Stormfield SPV I, LLC claims a lien or security interest. Stormfield is the only creditor with an interest in the Debtor's cash collateral. As adequate protection, Stormfield will receive replacement "rollover" liens on the Debtor's post-petition assets similar to its pre-petition collateral, with the same priority as its pre-petition liens. The replacement liens are effective as of the petition date and are automatically perfected without the need for additional filings. Stormfield will also receive an initial payment of $3,500 as additional protection and a monthly payment of $3,500, beginning July 15. The interim order does not determine whether the replacement liens alone provide sufficient adequate protection, nor does it resolve disputes regarding the validity, priority, extent, or secured status of Stormfield's claims. All parties retain their rights to challenge those issues or seek additional protections at a later stage. The order is available at https://is.gd/Injepp from PacerMonitor.com. A final hearing is scheduled for June 29. About 97 & 99 Prospect LLC 97 & 99 Prospect is a privately owned real estate business based in Buffalo, New York. Its business involves identifying property owners facing time-sensitive situations and connecting them with buyers or investors capable of completing transactions outside the traditional real estate listing process. 97 & 99 Prospect filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. W.D.N.Y. Case No. 26-10658) on May 22, 2026, with $500,001 to $1 million in assets and $100,001 to $500,000 in liabilities. Mark Schlant, Esq., at Zdarsky, Sawicki & Agostinelli, LLP serves as Subchapter V trustee for the Debtor. Judge Carl L. Bucki presides over the case. Robert B. Gleichenhaus, Esq., at Gleichenhaus, Marchese & Weishaar, P.C. represents the Debtor as legal counsel. A'LEURER LLC: Seeks Court Approval to Hire NS CPA as Accountant --------------------------------------------------------------- A'Leurer LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of North Carolina to employ NS CPA PLLC as accountant. The firm will provide bookkeeping services. The firm will receive a flat fee of $500 monthly. Nabil Sibay, a certified public accountant at NS CPA, 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: Nabil Sibay, CPA NS CPA PLLC 1921 Boulevard Street, Unit A Greensboro, NC 27407 Telephone: (336) 763-7020 About A'Leurer LLC A'Leurer LLC is a privately held limited liability company engaged in business operations. A'Leurer LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D.N.C. Case No. 26-10160) on Feb. 2, 2026. In its petition, the Debtor listed less than $100,000 in assets and up to $1 million in liabilities. Judge Joseph N. Callaway oversees the case. J.M. Cook, Esq., at J.M. Cook, PA serves as the Debtor's counsel. ACADEMY OF VOLLEYBALL: Gets Final OK to Use Cash Collateral ----------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of California, San Francisco Division, granted Academy of Volleyball, Inc. final approval to continue using cash collateral. Under the order, the Debtor may use cash collateral to pay operating expenses in accordance with the budget. The authorization remains effective through the confirmation of the Debtor's plan of reorganization. As adequate protection, secured creditors were granted replacement liens on post-petition collateral with the same priority and extent as their prepetition liens, limited to any post-petition diminution in value of their collateral. However, the court expressly stated that the order does not determine the validity, priority, or extent of any creditor's liens. The court further ruled that no payments of professional fees to debtor's counsel or fees to the Subchapter V Trustee may be made unless separately approved through interim or final fee applications. The order is available at https://is.gd/FK2Jbn from PacerMonitor.com. About Academy of Volleyball Inc. Academy of Volleyball, Inc. provides youth and junior volleyball training and competitive programs from its headquarters in West Redwood City, California, with additional facilities in North Burlingame. The club offers girls and boys teams, summer and winter camps, clinics, private lessons, beach volleyball programs, and college recruiting resources, serving athletes typically aged 10 through 18. The club's programs help athletes build technical skills, develop mental toughness, and learn teamwork and composure in a competitive, team-driven environment. Facilities include multiple courts, a performance lab, and year-round practice spaces designed to support skill advancement and athlete performance. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 26-30265) on March 26, 2026. In the petition signed by Daniele Desiderio, CEO, the Debtor disclosed $427,076 in total assets and $3,000,664 in total liabilities. Judge Hannah L. Blumentstiel oversees the case. Michael Jay Berger, Esq., at the Law Offices of Michael Jay Berger, represents the Debtor as bankruptcy counsel. ADAGIO MEDICAL: Stockholders Elect Directors, Ratify Auditor ------------------------------------------------------------ Adagio Medical Holdings Inc. stockholders elected two directors and ratified WithumSmith+Brown, PC as independent registered public accounting firm for 2026, according to a Securities and Exchange Commission filing. The votes were taken at the company's June 16 annual meeting. Adagio said 16,069,984 shares, or 72.35% of 22,210,459 shares outstanding as of the record date, were present or represented by proxy. Stockholders elected Orly Mishan and Sean Salmon to serve as directors until the 2029 annual meeting and until their successors are elected and qualified. Mishan received 11,930,745 votes for and 1,396,139 votes withheld, with 2,743,100 broker non-votes. Salmon received 13,322,425 votes for and 4,459 votes withheld, with 2,743,100 broker non-votes. Stockholders also ratified the appointment of WithumSmith+Brown, PC as the company's independent registered public accounting firm for the fiscal year ending Dec. 31, 2026. The proposal received 16,055,195 votes for, 14,081 votes against and 708 abstentions. About Adagio Medical Holdings Adagio Medical Holdings, Inc. is a Laguna Hills, California-based medical device company focused on developing and commercializing products for the treatment of cardiac arrhythmias with proprietary catheter-based Ultra-Low Temperature Ablation technology. Its initial focus is ventricular tachycardia, a rapid abnormal heart rhythm originating in the heart's lower chambers. The company's products are designed to treat patients with ventricular tachycardia and address the anatomy of the ventricle, including the vCLAS Cryoablation System and next-generation ULTA technology under development. In an audit report dated March 26, 2026, WithumSmith+Brown, PC included a going concern qualification, stating that Adagio 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 March 31, 2026, Adagio reported total assets of $39.31 million, total liabilities of $33.58 million and stockholders' equity of $5.73 million. ADUDDELL INDUSTRIES: Seeks to Hire Ordinary Course Professionals ---------------------------------------------------------------- Aduddell Industries and Roofing, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ non-bankruptcy professionals in the ordinary course of business. The Debtor needs ordinary course professionals to perform services for matters unrelated to this Chapter 11 case. The Debtor seeks to pay OCPs 100 percent of the fees and expenses incurred. The Debtor does not believe that any of the OCPs have an interest materially adverse to it, its estates, creditors, or other parties-in-interest in connection with the matter upon which they are to be engaged. Bowles Rice LLP 1800 Main Street, Suite 200 Canonsburg, PA 15317 -- Legal Counsel Clark Partington 215 South Monroe Street, Suite 530 Tallahassee, FL 32301 -- Legal Counsel The Law Offices of Michael P. Dickey, PLLC 5 East Market Street, Suite 254 Corning, NY 14830 -- Legal Counsel About Aduddell Industries and Roofing LLC Aduddell Industries and Roofing, LLC provides commercial roofing, waterproofing and concrete restoration services for customers across the U.S. The company, based in Port St. Lucie, also performs emergency roofing and restoration work following storms and other natural disasters. Aduddell Industries and Roofing, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-16706) on May 22, 2026, listing $1 million to $10 million in both assets and liabilities. The petition was signed by Timothy Aduddell as manager. Brian G. Rich, Esq., at Berger Singerman LLP serves as the Debtor's counsel. ADVANCED URGENT: Court Affirms Award of Attorney's Fees, Costs -------------------------------------------------------------- In the the appeal styled ZIP CLINIC MANAGEMENT, LLC, ROCK OAK CAPTIAL FUND I, LLC, PRACTICE VELOCITY, LLC, EXPERITY HEALTH, and DR. DAVID STEARN, Appellants, v. BROADWAY AND ELLSWORTH, LLC and TAZ3, LLC, Appellees, Case No. 1:25-cv-02054-LTB (D. Colo.), Judge Lewis T. Babcock of the U.S. District Court for the District of Colorado affirmed the Bankruptcy Court's ruling denying the motion of Appellants/Guarantors for relief from order granting fees and costs in the bankruptcy case of Advanced Urgent Care, LLC. Pre-petition, the Debtor, Advanced Urgent Care, LLC, purchased three urgent care clinics from Appellants Zip Clinic Management and Rock Oak Capital Fund in April of 2022. One of the clinics was located in Westminster, Colorado. As part of that sale, the landlord, Appellee TAZ3, agreed to allow the Debtor to take over the commercial lease on the clinic property ("the Westminster Lease"), and the Appellants/Guarantors agreed to guaranty performance under the lease (the "Westminster Guaranties"). The Debtor allegedly subsequently defaulted on the terms of the Westminster Lease, and Appellee TAZ3 filed suit in Adams County District Court in December of 2023 (Case No. 2023CV031676) alleging breach of contract against the Debtor, and that the Appellants Zip Clinic, Rock Oak Capital, and Practice Velocity were liable as guarantors under the Westminster Guaranties. The Debtor also purchased a clinic located on Broadway in Denver, Colorado. As part of the sale of the Denver clinic, the landlord, Appellee Broadway & Ellsworth, likewise agreed to allow the Debtor to take over the lease on the clinic property (the "Broadway Lease"), and the Appellants/Guarantors agreed to guaranty performance under the lease (the "Broadway Guaranty"). Because the Debtor also allegedly defaulted on the terms of the Broadway Lease, and Appellee Broadway & Ellsworth filed suit in Denver District Court in February of 2024 (Case No. 2023CV031676) alleging breach of contract against the Debtor, and that the Appellants Zip Clinic and Rock Oak Capital were liable as guarantors under the Broadway Guaranty. The Debtor thereafter sought bankruptcy protection under Chapter 11 of the Bankruptcy Code, 11 U.S.C. Sec. 101, et. seq., in May of 2024, in Case Number 24-14536-JGR. Upon this filing, the state court cases against the Debtor were automatically stayed pursuant to 11 U.S.C. Sec. 362(a)(1). Adversary Proceeding The Appellants/Guarantors subsequently filed the Adversary Proceeding at issue in this case on November 8, 2024, in Adversary Case Number 24-10259-JGR. In their Complaint for Injunctive and Declaratory Relief, the Appellants/Guarantors sought injunctive relief in the form of an order extending the automatic stay afforded to the Debtor to their obligations under the leases and guaranties until confirmation of a plan of reorganization. As such, the Appellants/Guarantors sought declaratory judgment from the Bankruptcy Court declaring that the automatic stay was applicable to the entirety of the claims asserted against them by Appellees/Landlords in the state court cases. In support of these requests, the Appellants/Guarantors asserted that "unusual circumstances" existed justifying the extension of the automatic stay to them as non-debtor third parties. The Bankruptcy Court disagreed and granted the Appellees/Landlords Motion to Dismiss pursuant to Federal Rule of Civil Procedure 12(b)(6), incorporated by Fed. R. Bankr. P. 7012 -- via an oral ruling on March 13, 2025 -- by finding that the Appellants/Guarantors failed to prove the existence of usual circumstances necessary to warrant an extension of the automatic stay. Following the dismissal of the Adversary Proceeding, the Appellees/Landlords filed a Motion For Attorney's Fees and Costs in which they sought the fees and costs they incurred to defend the Adversary Proceeding. The Appellees/Landlords asserted that they were entitled to an order, as the prevailing parties, awarding them their fees and costs based on relevant provisions in the leases and guaranties. The Appellants/Guarantors failed to respond the motion, and the Bankruptcy Court subsequently awarded the Appellees/Landlords their fees and costs incurred, on April 15, 2025, after finding that they were reasonable under a lodestar analysis. Ten days later, on April 25, 2025, the Appellants/Guarantors filed a Motion for Relief from Order Granting Request for Fees and Costs, seeking relief pursuant to Federal Rule of Civil Procedure 60(b)(1), incorporated by Fed. R. Bankr. P. 9024. The Bankruptcy Court denied the Appellants/Guarantors' request for Rule 60(b) relief on June 18, 2025. The Bankruptcy Court ruled that even if counsel's failure to calendar the objections deadline constituted excusable neglect, the Appellants/Guarantors failed to identify a meritorious defense to the Motion for Attorney's Fees and Costs. As a result of the Bankruptcy Court's ruling, judgment entered in favor of the Appellants/Guarantors on June 18, 2025. The Appellants/Guarantors subsequently filed this appeal. The Appellants/Guarantors argue that the Bankruptcy Court was without jurisdiction to determine the validity of the provisions in the leases and guaranties that constituted the basis for the award. They further argue that the Bankruptcy Court erred when ruling that their acknowledgments of the existence of the leases and guaranties amounted to judicial admissions that the provisions awarding fees and costs were enforceable in this case. Judge Babcock concludes that the award of fees and costs, as provided by provisions in the leases and guaranties, was part and parcel of the core proceeding sought out by the Appellants/Guarantors in the Adversary Proceeding, which gave the Bankruptcy Court jurisdiction to consider the request for fees and costs by the Appellees/Landlords. While the Appellants/Guarantors argued in the Bankruptcy Court that they had a meritorious defense to the Appellees/Landlords' request for fees and costs -- in that they asserted that the enforceability of the leases and guaranties was not the issue before the Bankruptcy Court and, as such, there was no contractual basis for a fees and costs award -- they did not assert that they had a meritorious defense based on the fact that the Appellees/Landlords were not the prevailing party, or that the scope of the relevant fee-shifting provisions in the lease and guaranties were not applicable to this Adversary Proceeding. Judge Babcock holds, "Because the Bankruptcy Court did not abuse its discretion when ruling that the Appellants/Guarantors' legal assertions in the Adversary Proceedings were judicial admissions that the leases and guaranties were enforceable, and because the Appellants/Guarantors either waived or failed to show that the Bankruptcy Court committed plain error with regard to their prevailing party argument, I affirm the Bankruptcy Court's Order Denying Rule 60(b) Request." A copy of the Court's Order dated June 18, 2026, is available at http://urlcurt.com/u?l=UUIWUpfrom PacerMonitor.com. About Advanced Urgent Care Advanced Urgent Care, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Colo. Case No. 24-14536) on August 7, 2024. In the petition signed by Anthony G. Euser, managing member, the Debtor disclosed up to $50,000 in assets and up to $1 million in liabilities. David J. Warner, Esq., at Wadsworth Garber Warner Conrardy, P.C., represents the Debtor as legal counsel. Independent Bank, as lender, is represented by John F. Young, Esq., at Mark us Williams Young & Hunskker, LLC, in Denver, Colorado. ALTAMAHA D.M.E: Seeks to Extend Plan Exclusivity to Oct. 21 ----------------------------------------------------------- Altamaha D.M.E., Inc. asked the U.S. Bankruptcy Court for the Southern District of Georgia to extend its exclusivity periods to file a plan of reorganization and obtain acceptance thereof to Oct. 21 and Dec. 21, 2026, respectively. The Debtor believes its efforts will have a significant impact on its ability to successfully reorganize. Debtor believes it has reasonable prospects for filing a viable plan. However, it needs additional time to formulate and negotiate a plan and prepare the required adequate information. Debtor's request for additional time is warranted as Debtor has proven to be an active and effective debtor-in-possession. Debtor should be entitled to retain control over the reorganization process. The Debtor explains that it is generally paying its post-petition debts as they come due and believes it will have sufficient cash to continue paying its post-petition obligations as they come due. Debtor is continuing to work on ensuring it prepares fully accurate and complete monthly operating reports. Debtor's performance in this regard supports its request for extension, further reducing potential risk to the reorganization process (and administrative creditors) if the extensions are granted. The Debtor asserts that it does not seek the extension to delay the reorganization or to pressure the creditors to accede to a plan that they might find unacceptable. To the contrary, Debtor seeks the extension to provide itself with time to attempt to reach a consensus on a confirmable plan of reorganization and the creation of viable, sustainable reorganized Debtor. At this early stage, a relatively short extension of the Exclusive Periods will not harm or prejudice any party-in-interest. Altamaha D.M.E., Inc. is represented by: David L. Bury, Jr., Esq. Thomas B. Norton, Esq. E. Tate Crymes, Esq. Stone & Baxter, LLP 577 Third Street Macon, GA 31201 Tel: (478) 750-9898 Fax: (478) 750-9899 Email: dbury@stoneandbaxter.com tnorton@stoneandbaxter.com tcrymes@stoneandbaxter.com About Altamaha D.M.E. Inc. Altamaha D.M.E., Inc., operates a medical device sales business with three storefront locations in Jesup, Brunswick, and Pooler, Georgia. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ga. Case No. 26-20053-MJK) on February 24, 2026. In the petition signed by Teresa L. Brake, president, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Michele J. Kim oversees the case. Thomas B. Norton, Esq., at Stone & Baxter, LLP, represents the Debtor as legal counsel. AMERICAN MEDICAL: AlphaCare Loses Bid to Amend Proof of Claim ------------------------------------------------------------- Chief Eduardo V. Rodriguez of the U.S. Bankruptcy Court for the Southern District of Texas denied AlphaCare Health Solutions, LLC's motion to reconsider the denial of its motion to amend its proof of claim to include contractual attorney's fees in the bankruptcy case of American Medical Programs, Inc. The Debtors' motion to strike is granted. AlphaCare timely filed Proof of Claim No. 4-1 on December 30, 2024, in Case No. 24-10191, asserting approximately $126,000 in amounts due under a contract with the Debtors for billing and related services. The Debtors did not object to AlphaCare's claim until July 7, 2025-more than six months after the proof of claim was filed. The Debtors' objection alleged that AlphaCare's services had caused delays in the Debtors' ability to obtain reimbursement from insurance carriers and Medicare, and that AlphaCare's billings violated the written services contract, Medicare rules and regulations, and industry standards. On August 8, 2025, the same day AlphaCare retained counsel to defend its claim, this Court confirmed the Debtors' plan of reorganization. AlphaCare's claim was expressly designated as disputed, and its amount and components were left unresolved and subject to the claims allowance process contemplated by the plan. AlphaCare voted to accept the plan and did not object to the plan, its confirmation, or the plan's express exclusion of post-petition attorney's fees from allowed claims. The plan further provides that claims not meeting the definition of "Allowed Claim" are "Disallowed Claims. In February 2026, more than seven months after retaining counsel and after discovery had progressed substantially, AlphaCare filed its motion for leave to amend its proof of claim to include contractual attorney's fees and default interest. This initial motion did not include a proposed amended proof of claim. On March 26, 2026, this Court entered an order denying AlphaCare's motion for leave to amend the proof of claim. In the motion to reconsider, AlphaCare attached a proposed amended proof of claim, which it had failed to include in the initial motion. The proposed amended proof of claim reflects a reduction of the principal claim amount from approximately $126,000 to approximately $120,000 and includes a demand for contractual attorney's fees. AlphaCare's motion to reconsider largely repeats the arguments presented in its initial motion, citing the same authorities and legal theories. The Debtors filed a motion to strike the motion to reconsider as procedurally improper under Fifth Circuit standards because it rehashes arguments that could and should have been raised in the initial motion and presents no newly discovered evidence or change in controlling law. The central issue is whether AlphaCare, an unsecured creditor that voted to accept a confirmed plan of reorganization expressly excluding post-petition attorney's fees from allowed claims, may recover such fees through post-confirmation litigation. The Court finds AlphaCare's motion to reconsider fails to meet the stringent Fifth Circuit standard for reconsideration, presenting no newly discovered evidence or change in controlling law, or demonstrating manifest error of law or fact or manifest injustice warranting reconsideration. According to the Court, the motion improperly rehashes arguments that could and should have been raised in the initial motion and represents an attempt to relitigate issues already decided. The Court says the confirmed plan's express exclusion of post-petition attorney's fees from allowed claims for unsecured creditors is binding and enforceable and precludes AlphaCare from relitigating the issue. A copy of the Court's Memorandum Opinion dated June 18, 2026, is available at https://urlcurt.com/u?l=WEqIng from PacerMonitor.com. American Medical Programs, Inc. filed for Chapter 11 bankruptcy protection (Bankr. S.D. Tex. Case No. 24-10192) on November 9, 2024, listing under $1 million in both assets and liabilities. A copy of the petition is available at https://urlcurt.com/u?l=kUvFQl. The Debtor is represented by Shelby A Jordan, Esq. -- sjordan@jhwclaw.com -- at Jordan & Ortiz, P.C. ANOINTED TOUCH: Seeks to Extend Plan Filing Deadline to July 27 --------------------------------------------------------------- Anointed Touch Residential Services LLC asked the U.S. Bankruptcy Court for the Southern District of Indiana to extend its time to file Small Business Chapter 11 Plan of Reorganization and Disclosure Statement to July 27, 2026. The Debtor explains that it is actively working toward the formulation of a confirmable Subchapter V plan but cannot finalize the Plan until the accounting issues and amended tax returns are sufficiently completed to permit Debtor to evaluate the proper treatment of priority claims and the anticipated distribution structure. In addition, Debtor's ability to finalize a meaningful Plan has been materially impaired by the fraudulent transfer of the Funds, as the Funds were expected to be used in connection with Debtor's reorganization efforts. Because the Funds have not yet been restored, despite Debtor's prompt efforts to report the transfer and work with Premier Bank to recover them, Debtor requires additional time to allow for the return of the Funds. The Debtor claims that it has sought authority to employ an accountant to address tax-return issues that are central to the Plan's structure. Until that work is completed or sufficiently advanced and until the Funds are restored to the DIP account, any Plan filed by Debtor would risk being incomplete, inaccurate, or subject to material amendment shortly after filing. Anointed Touch Residential Services LLC is represented by: Jacob S. Troxell, Esq. Allen Wellman Harvey Keyes Cooley, LLP Five Courthouse Plaza, PO Box 455 Greenfield, IN 46140 Tel: (317) 462-3455 Fax: (317) 467-6109 Email: jst@awhkc.com About Anointed Touch Residential Services Anointed Touch Residential Services, LLC, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ind. Case No. 26-00922) on Feb. 24, 2026. In the petition signed by Ayries Nachelle Bledsoe, sole member, the Debtor disclosed up to $500,000 in assets and up to $10 million in liabilities. Judge James M. Carr oversees the case. Jacob Troxell, at Allen Wellman Harvey Keyes Cooley, LLP, is the Debtor's legal counsel. ARCOSA INC: S&P Places 'BB' Issuer Credit Rating on Watch Positive ------------------------------------------------------------------ S&P Global Ratings placed all its ratings on U.S.-based infrastructure products provider Arcosa Inc., including its 'BB' issuer credit rating, on CreditWatch with positive implications. On June 22, 2026, building solutions provider CRH PLC (BBB+/Stable/A-2) announced its plan to acquire U.S.-based infrastructure products provider Arcosa Inc. for about $8.5 billion. S&P said, "The CreditWatch placement reflects our expectation that Arcosa's assets will merge with those of CRH upon close of the transaction. We expect to resolve the CreditWatch placement after the proposed acquisition closes, which is expected to occur early in 2027 subject to shareholder approval and customary regulatory approvals. "The CreditWatch placement reflects the likelihood that we would raise our ratings on Arcosa, potentially equalizing them with our 'BBB+' rating on CRH PLC.The placement follows the announcement by CRH that it plans to acquire Arcosa in an all-cash transaction, priced at $150 per share, representing a 25% premium to Arcosa's 60-day, volume-weighted-average price as of June 18, 2026, and remains subject to Arcosa stockholder and regulatory approvals. Once the acquisition closes, we believe the combined entity would have a stronger credit profile than that of Arcosa currently. "The CreditWatch placement with positive implications reflects our view that we will likely raise the issuer credit rating on Arcosa by more than one notch upon close of the proposed transaction. We expect to resolve the CreditWatch placement at transaction closing in early 2027, subject to stockholder and regulatory approvals." ASHFORD HOSPITALITY: Unit Sells Jacksonville Hotel for $11.3M ------------------------------------------------------------- Ashford Hospitality Trust, Inc. announced in a regulatory filing that Ashford Jacksonville I LP, an indirect wholly owned subsidiary of the Company, completed the sale of the Hilton Garden Inn Jacksonville - Deerwood Park located in Jacksonville, Florida pursuant to an Agreement of Purchase and Sale, dated as of April 16, 2026, by and between Ashford Jacksonville I LP, as seller, and Maco Properties, L.L.C., as purchaser, for $11.3 million in cash, subject to customary pro-rations and adjustments. About Ashford Hospitality Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing predominantly in upper upscale, full-service hotels. Dallas, Texas-based BDO USA, P.C., the Company's auditor since 2015, issued a "going concern" qualification in its report dated March 20, 2026, attached to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, citing that the Company has final debt maturities within one year from the date the financial statements are issued, which raise substantial doubt about its ability to continue as a going concern. As of March 31, 2026, Ashford had $2.6 billion in total assets, $3 billion in total liabilities, and a total stockholders' deficit of $695.2 million. As of March 31, 2026, the Company had total indebtedness of $2.4 billion included $2.2 billion of variable-rate debt. ATEG ENTERPRISES: To Sell Hwy 181 Property to KSDS 2025 Investments ------------------------------------------------------------------- Ateg Enterprises, Inc. seeks permission from the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor employs American Real Estate as Real Estate Broker in connection with the potential sale of the Property, located at 12118 S US Hwy 181 in Texas. The Debtor has received an offer for the purchase of the Property in the amount of $700,000.00 from KSDS 2025 Investments LLC. The sales price represents the highest value of the Property in its current condition and under current real estate market conditions of similar properties located in San Antonio, Texas. The proposed sale is an "arm's length" transaction. The Debtor believes the sale of the Property is in the best interest of the estate. About Ateg Enterprises Inc. Ateg Enterprises, Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. W.D. Texas Case No. 25-52669) on November 3, 2025, with up to $50,000 in assets and $500,001 to $1 million in liabilities. Judge Michael M. Parker presides over the case. Robert Chamless Lane, Esq., at The Lane Law Firm PLLC represents the Debtor as bankruptcy counsel. ATLANTIC & PACIFIC: Court Issues Ruling in McKesson Systems Case ---------------------------------------------------------------- The Hon. Lisa G. Beckerman of the U.S. Bankruptcy Court for the Southern District of New York entered a Memorandum Opinion regarding preference allegations in the adversary proceeding captioned as THE OFFICIAL COMMITTEE OF UNSECURED CREDITORS on behalf of the bankruptcy estate of THE GREAT ATLANTIC & PACIFIC TEA COMPANY, INC., et al., Plaintiff, - against - McKESSON PHARMACY SYSTEMS LLC, Adv. Proc. No. 17-08265 (LGB) (Bankr. S.D.N.Y.). After a long and winding procedural journey, this adversary proceeding (the "Systems Adversary Proceeding") between the Official Committee of Unsecured Creditors on behalf of the bankruptcy estate of The Great Atlantic & Pacific Tea Company (the "Committee" or "Plaintiff") and McKesson Pharmacy Systems LLC (the "Defendant" or "McKesson Systems", and together with the Committee, the "Parties") comes to an end. This opinion shall resolve whether the various payments made from the Debtor to McKesson Systems during the 90-day period prior to the Petition Date, April 20, 2015 through July 18, 2015 (the "Preference Period"), were preferential transfers, and whether McKesson Systems has valid defenses to those allegations. The Great Atlantic & Pacific Tea Company ("A&P") contracted with McKesson Systems to provide pharmacy enterprise software to manage A&P's inventory, product orders and payments (the "System Software"). On July 13, 2017, the Plaintiff initiated this Systems Adversary Proceeding by filing its Complaint against McKesson Systems. The Complaint sought the avoidance and recovery of 16 payments made by the Debtor to McKesson Systems, totaling $323,260.11, during the Preference Period. The first claim for relief is brought pursuant to Sec. 547 of title 11 of the United States Bankruptcy Code (the "Bankruptcy Code"), and the second is brought pursuant to Sec. 550(a) of the Bankruptcy Code. McKesson Systems asserted various defenses set forth in Sec. 547(c) of the Bankruptcy Code, including the ordinary course of business, contemporaneous exchange, and subsequent new value defenses, as well as a setoff or recoupment defense to the extent that McKesson Systems provided goods to the Debtor after the Petition Date for which payment was never received. Three of the Transfers were for $99,578.20 each, which the Parties agree were for the monthly recurring "facility based fee" owed to McKesson Systems pursuant to the License Agreement (together, the "Facility Based Fees"). These three Facility Based Fee payments account for $298,734.60 of the $323,360 total of transfers at issue in this case. The Court has determined that none of the transfers are shielded from avoidance by other valid Sec. 547(c) defenses. Thus, the Court may apply the subsequent new value defense under Sec. 547(c)(4) (the "SNV Defense") to all of the transfers. McKesson Systems also admits that one of these three Facility Based Fee payments, the one dated May 19, 2015 (with an invoice date of March 25, 2015), is not shielded by the ordinary course defense. Thus, the Court will only analyze the ordinary course defense as to the two other Facility Based Fee payments paid on June 30 and July 11, 2015, with invoice dates of May 27, 2015 and June 8, 2015. The Plaintiff agreed that McKesson Systems' preference exposure net of only the SNV Defense was no less than $141,820.18. Nonetheless, the Plaintiff asserts that the net preference exposure of $141,820.18 is understated by at least $41,758.60 because it includes that amount both as part of its ordinary course of business defense and as new value that reduces Pharmacy's preference liability. The Court disagrees and finds that the net preference exposure is not understated as though McKesson Systems' SNV Defense calculation includes two of the Facility Based Fee payments both for purposes of the ordinary course defense and for purposes of the new value calculation (which would be impermissible), the Court here already found that none of the Facility Based Fee payments were shielded from avoidance by McKesson Systems' ordinary course of business defense. The Plaintiff also asserts that the SNV Defense should be reduced to the extent that the Court holds that new value must remain unpaid to shield a preference. But this Court concluded in a different opinion that new value does not need to remain unpaid to shield a preference. In summary, this Court rules as follows: 1. Each of the transfers in the McKesson Systems Proceeding enabled McKesson Systems to receive more than it would have received if the Main Case were a case under chapter 7, the transfer had not been made, and McKesson Systems received payment on such debt to the extent provided by the provisions of the Bankruptcy Code. 2. None of the transfers in the McKesson Systems Proceeding are shielded from avoidance on account of McKesson Systems' Sec. 547(c)(2) ordinary course of business defense. 3. After accounting for McKesson Systems' SNV Defense pursuant to Sec. 547(c)(4), the Plaintiff can, pursuant to Secs. 547 and 550, avoid and recover $141,820.18 from McKesson Systems. A copy of the Court's Memorandum Opinion dated June 17, 2026, is available at https://urlcurt.com/u?l=XhJ0Bs from PacerMonitor.com. About The Great Atlantic & Pacific Tea Company Based in Montvale, New Jersey, The Great Atlantic & Pacific Tea Company, Inc., and its affiliates are one of the nation's oldest leading supermarket and food retailers, operating approximately 300 supermarkets, beer, wine, and liquor stores, combination food and drug stores, and limited assortment food stores across six Northeastern states. The primary retail operations consist of supermarkets operated under a variety of well-known trade names, or "banners," including A&P, Waldbaum's, SuperFresh, Pathmark, Food Basics, The Food Emporium, Best Cellars, and A&P Liquors. Then with 429 stores, A&P and its affiliates filed Chapter 11 petitions (Bankr. S.D.N.Y. Case No. 10-24549) on Dec. 12, 2010, and in 2012 emerged from Chapter 11 bankruptcy as a privately held company with 320 supermarkets. On July 19, 2015, with 300 stores, A&P and 20 affiliated debtors each filed a Chapter 11 petition (Bankr. S.D.N.Y. Case No. 15-23007) after reaching deals for the going concern sales of 120 stores. As of Feb. 28, 2015, the Debtors reported total assets of $1.6 billion and liabilities of $2.3 billion. Judge Robert D. Drain of the U.S. Bankruptcy Court for the Southern District of New York presides over the 2015 cases. The Debtors tapped Weil, Gotshal & Manges LLP as counsel, Evercore Group L.L.C., as investment banker, FTI Consulting, Inc., as financial advisor, Hilco Real Estate, LLC, as real estate advisor, and Prime Clerk LLC, as claims and noticing agent. AVENGER FLIGHT: Court Okays Chapter 11 Liquidation Plan ------------------------------------------------------- Vince Sullivan of Law360 Bankruptcy Authority reports that Avenger Flight Group LLC obtained court approval for its Chapter 11 liquidation plan after a Delaware bankruptcy judge signed off on a proposal to establish a creditor trust. The trust will serve as the primary vehicle for collecting remaining assets and distributing funds to unsecured creditors. According to plan documents, the trust will manage residual estate property and pursue potential recoveries that could enhance creditor distributions. The arrangement allows the bankruptcy estate to continue administering certain matters even after the Chapter 11 plan becomes effective. The confirmation concludes a key phase of Avenger's restructuring process and sets the stage for final distributions. Stakeholders supported the plan as a practical means of maximizing value from the company's remaining assets, the report relays. About Avenger Flight Group Avenger Flight Group is a Florida-based flight simulator company that provides flight simulation and pilot training services. Avenger Flight Group sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 26-10183) on February 12, 2026. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million each. Honorable Bankruptcy Judge Mary F. Walrath handles the case. The Debtor is represented by Steven W. Golden, Esq. and Mary F. Caloway, Esq. of Pachulski Stang Ziehl & Jones. AXIP ENERGY: Secures Approval for Chapter 11 Wind-Down Plan ----------------------------------------------------------- Alex Wittenberg of Law360 Bankruptcy Authority reports that Bestwall LLC is fighting an effort by asbestos claimants to place the company under the control of a Chapter 11 trustee after an executive disclosed that Georgia-Pacific is considering additional bankruptcy filings to address asbestos liabilities. Company officials insisted that the disclosure does not signal an intention to walk away from the long-running bankruptcy case. According to testimony from Bestwall's chief legal officer, Georgia-Pacific has been engaged in settlement discussions with asbestos claimants and is evaluating whether another bankruptcy filing could facilitate a broader resolution. Claimants seized on those comments as evidence that the current Chapter 11 process may be sidelined. Bestwall countered that the trustee request is unwarranted, arguing that management has acted appropriately throughout the case and that exploring alternative restructuring options is consistent with efforts to reach a settlement. The company urged the court to allow the existing Chapter 11 proceedings to continue under current leadership, the report relays. About Axip Energy Services LP Axip Energy Services, LP is a provider of natural gas contract compression services. Axip Energy Services sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90338) on February 22, 2026. In the petition signed by Ben Chesters, chief restructuring officer, the Debtor disclosed up to $500 million in both assets and liabilities. Judge Christopher M. Lopez oversees the case. Paul E. Heath, Esq., at Vinson & Elkins LLP represents the Debtor as counsel. Epiq Corporate Restructuring, LLC is the Debtors' claims, noticing, and solicitation agent. BALLAST DESIGN: To Sell Atlanta Property to Kurt Jackson and Morgan ------------------------------------------------------------------- Ballast Design Build LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia, Atlanta Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor is a Georgia limited liability corporation that owns real property located at 458 Connaly St SE, Atlanta, Georgia 30312. Buyers, Kurt Jackson and Morgan Young, has offer to purchase the Property for the purchase price of $589,000.00. The Purchase Price is inclusive of $6,000.00 Earnest Money Deposit which is due within 3 days of the Agreement’s acceptance. The Debtor has spent considerable time and effort marketing the Property to various potential buyers. The Debtor believes that the transaction represents the highest and best offer available and that the Purchase Price represents the true value of the Property. The lienholders of the Property are ABL RPC Residential Credit Acquisition, LLC and the U.S. Small Business Administration. The Debtor believes the proposal represents the highest and best offer available as evidenced by the Debtor’s considerable effort to market the Property to potential buyers. The Purchase Price represents the fair market value for the Property as the Property was subject to extensive marketing and an arm’s-length negotiation with the non-insider Buyer. The Buyers are not insiders of the Debtor and the Buyers do not have a familial relationship to Debtor. The Buyers are not an "affiliate" of Debtor. The Buyers seek to proceed under and execute the Agreement as soon as possible and Debtor and Buyers are targeting a closing scheduled for July 3, 2026. About Ballast Design Build LLC Ballast Design Build LLC is a limited liability corporation based in Georgia. Ballast Design Build sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-54381) on April 2, 2026. The Company listed $1 million to $10 million in assets and liabilities. Judge Barbara Ellis-Monro presides over the case. Leslie M. Pineyro, at Jones And Walden, LLC, is the Debtor's legal counsel. Judge Barbara Ellis-Monro presides over the case. Leslie M. Pineyro at Jones And Walden, LLC, represents the Debtor as legal counsel. BAYLIE'S SQUARE: Amy Denton Mayer Named Subchapter V Trustee ------------------------------------------------------------ The Acting U.S. Trustee for Region 21 appointed Amy Denton Mayer of Stichter Riedel Blain & Postler, P.A. as Subchapter V trustee for Baylie's Square Incorporated. Ms. Mayer will be paid an hourly fee of $400 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Mayer declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Amy Denton Mayer Stichter Riedel Blain & Postler P.A. 110 East Madison Street, Suite 200 Tampa, FL 33602 Phone: (813)229-0144 Email: amayer@subvtrustee.com About Baylie's Square, Incorporated Baylie's Square Incorporated is a Tampa, Fla.-based full-service restaurant. Baylie's Square, Incorporated sought protection under Subchapter V of Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-05017) on June 11, 2026. At the time of the filing, the Debtor had estimated assets of between $100,001 and $500,000 and liabilities of between $500,001 and $1 million. The Debtor is represented by: Samantha L Dammer, Esq. Bleakley Bavol Denman & Grace 15316 N. Florida Avenue Tampa, FL 33613 Phone: (813) 221-3759 sdammer@bbdglaw.com BERKSHIRE LAND: Voluntary Chapter 11 Case Summary ------------------------------------------------- Debtor: Berkshire Land & Realty, LLC 2714 Route 22 Patterson, NY 12563 Business Description: Berkshire Land & Realty owns mixed-use real property in Patterson, New York, located at 2714 Route 22, 3-27 Lopane Drive, and 39 Lopane Drive. The property consists of three lots totaling approximately 30 acres and includes three rental houses, a 3,000-square-foot commercial nursery, and two greenhouses. The property has an appraised value of approximately $2.14 million. Chapter 11 Petition Date: June 19, 2026 Court: United States Bankruptcy Court Southern District of New York Case No.: 26-35653 Debtor's Counsel: Michelle L. Trier, Esq. GENOVA, MALIN & TRIER, LLP 1136 Route 9 Wappingers Falls, NY 12590 Tel: 845-298-1600 Email: michelle@gmtllp.com Total Assets: $2,145,800 Total Liabilities: $1,722,300 The petition was signed by Jesus Flores as managing member. The Debtor has declared in the petition that it has no unsecured creditors. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/4CIOUEA/Berkshire_Land__Realty_LLC__nysbke-26-35653__0001.0.pdf?mcid=tGE4TAMA BITCOIN DEPOT: Taps Thomas Studebaker of Triple P TRS as CRO ------------------------------------------------------------ Bitcoin Depot Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Triple P TRS, LLC to provide Thomas Studebaker of Portage Point as chief restructuring officer and additional personnel. The firm's services include: a. assisting in the evaluation and/or development of various strategic and/or financial alternatives and financial analyses for such purpose(s) as the Debtors may require; b. assisting in the evaluation and/or development of a short-term cash flow model and/or related liquidity management tools for the Debtors for such purpose(s) as the Debtors may require; c. assisting in the evaluation and/or development of a business plan and/or such other related forecasts and analyses for the Debtors for such purpose(s) as the Debtors may require; d. assisting in the evaluation and implementation of contingency planning related to the Debtors commencing or otherwise becoming the subject of a case under the Bankruptcy Code; e. assisting in obtaining and presenting information required by parties in interest in a chapter 11 case, including any statutory committees appointed in the chapter 11 case, or by this Court; f. assisting in the preparation of other business, financial and/or other reporting, analyses, and documents related to the chapter 11 cases, including, but not limited to, schedules of assets and liabilities, statements of financial affairs, monthly operating reports, development and execution of asset sales, a chapter 11 plan of reorganization for the Debtors (a "Plan"), and a disclosure statement for the Plan; g. assisting the Debtors in their engagement and negotiations with its various constituents, including, without limitation, holders of the Debtors' debt or equity, the Debtors' employees, and the Debtors' customers, vendors, and other commercial counterparties (collectively, the "Constituents"); which assistance may include, without limitation, meeting with Constituents, developing presentations and providing management with financial analytical assistance necessary to facilitate such negotiations; h. assisting in the development and distribution of other information that may be required by the Debtors or the Constituents; i. providing testimony, as necessary, with respect to matters on which Portage Point has been engaged to advise under the Engagement Letter in any proceeding in a chapter 11 case; j. attending meetings of the Board of the Debtors with respect to matters on which Portage Point has been engaged under the Engagement Letter; and k. assisting with such other matters as may be requested in writing by the Debtors that are within Portage Point's expertise and otherwise mutually agreeable to Portage Point and the Debtors. The firm's hourly rates are: CEO $1,500 Service Line Leader $885 to $1,045 Managing Director $830 to $985 Director $655 to $840 Vice President $490 to $705 Associate $390 to $470 Thomas Studebaker, managing director at Portage Point Partners, disclosed in a court filing that the firm is a "disinterested person" pursuant to Section 101(14) of the Bankruptcy Code. The firm can be reached at: Thomas Studebaker Portage Point Partners, LLC 640 Fifth Ave, 10th Floor New York, NY 10019 Tel: (617) 7306-7141 Email: tstudebaker@pppllc.com About Bitcoin Depot Inc. Bitcoin Depot, Inc. is a Delaware corporation with its principal place of business in Georgia that operates the largest cryptocurrency kiosk network in North America, claiming to operate more than 8,400 Bitcoin ATMs across the United States, Canada, and Puerto Rico. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90528) on May 18, 2026. In the petition signed by W. Alexander Holmes, director, the Debtor disclosed up to $50 million in both assets and liabilities. Paul E. Heath, Esq., at Vinson & Elkins LLP, represent the Debtor as legal counsel. BOY SCOUTS: Court Narrows Claims in Insurance Coverage Dispute -------------------------------------------------------------- Judge Karen Gren Scholer of the U.S. District Court for the Northern District of Texas granted, in part, and denied, in part, the motion filed by Arrowood Indemnity Company, Charter Oak Fire Insurance Company, Drivers Edge Insurance Company f/k/a Consolidated National Insurance Company, Erie Family Life Insurance Company, Erie Insurance Exchange, Jefferson Insurance Company of New York, The Phoenix Insurance Company, Security Mutual Insurance Company, St. Paul Mercury Insurance Company, The Travelers Companies, Inc., and United States Fidelity and Guaranty Company to dismiss the amended complaint in the case captioned the Honorable Barbara J. Houser (Ret.), in her capacity as Trustee of the BSA Settlement Trust v. Allianz Global Risks US Insurance Company, et al., Case No. 3:23-cv-01592-S (N.D. Tex.). This case is an insurance coverage dispute, wherein Plaintiff, the Honorable Barbara J. Houser (Ret.) in her capacity as Trustee of the Boy Scouts of America ("BSA") Settlement Trust, brought this civil action against over eighty insurance companies that allegedly issued liability policies covering BSA and/or BSA's Local Councils. In 2020, BSA was faced with mounting lawsuits seeking to hold it liable for alleged sexual abuse. BSA filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the District of Delaware. Id. The bankruptcy court entered an order confirming a plan of reorganization ("Plan"), and the Delaware district court affirmed that order. To resolve the abuse claims filed against BSA, the Plan created the Settlement Trust, which assumed liability for claims asserted against BSA and the Local Councils. To resolve the claims, the Settlement Trust received certain assets, including the rights under BSA's and the Local Councils' insurance policies. When the Plan became effective in 2023, more than 82,000 abuse claims were channeled to the Settlement Trust. Since that time, the Settlement Trust has been determining the allowed claim amounts for each claimant. In connection with this process, the Settlement Trust analyzes whether the claim is potentially covered by an insurance policy and notifies the relevant insurer. Since September 2024, the Settlement Trust allegedly has issued bills to insurers on a quarterly basis, demanding payment of specific amounts for specifically identified individual abuse claims. According to Plaintiff, as of September 9, 2025, the Settlement Trust had not received any unconditional payment for an claim. Instead, most of the insurers that are parties to this case allegedly have issued correspondence outlining their coverage defenses and disputing the claims. As a result, Plaintiff sued 83 insurers. Plaintiff seeks declaratory judgments and brings claims for breach of contract, bad faith, and violations of the Texas Insurance Code. The Defendants move to dismiss Plaintiff's claims on various grounds The Defendants move to dismiss Plaintiff's claims on three grounds. One subgroup moves to dismiss for lack of personal jurisdiction. Another subgroup asks the Court to abstain from ruling on certain claims in favor of the Illinois state court litigation. A third subgroup moves to dismiss Plaintiff's breach of contract, bad faith, and Texas Insurance Code claims for failure to state a claim. Plaintiff contends that the Court has general jurisdiction over all of the Personal Jurisdiction Moving Defendants because they "have extensive, continuous, and systematic contacts with Texas rendering them essentially at home here" and because most "have already invoked and/or consented to Texas courts' jurisdiction themselves. The Abstention Moving Defendants ask the Court to dismiss the claims that are subject to coverage litigation in Illinois state court ("Illinois Claims") under the Colorado River abstention doctrine. Failure to State a Claim The Defendants argue that Plaintiff has not plausibly stated a breach of contract claim because she relies on generalized, conclusory statements and does not identify which Defendant is allegedly responsible for indemnifying or defending which claim under which insurance policy. Additionally, the Defendants challenge Plaintiff's reservation of the right to revise the bills she sends to insurers, contending that Plaintiff cannot state a claim for breach of contract while at the same time asserting the right to change the claim. Finally, the Defendants contend that Plaintiff fails to identify specific provisions of the insurance policies at issue that were breached. Bad Faith The Defendants move to dismiss Plaintiff's claim for common law bad faith on four grounds: (1) Texas does not recognize such a claim in the context of third-party claims, and the only exception -- Stowers liability -- does not apply; (2) Plaintiff has not stated a claim for breach of contract; (3) the claim is conclusory; and (4) Plaintiff has not alleged independent damages. Texas Insurance Code The Defendants move to dismiss Plaintiff's claims that they violated Texas Insurance Code Section 541.060(a)(2)(A), (a)(3), (a)(4), and (a)(7). The Court grants in part and denies in part the Defendants' Motion to Dismiss the Amended Complaint. The Court grants the Motion on the ground that it does not have personal jurisdiction over the following Defendants: Arrowood Indemnity Company, Charter Oak Fire Insurance Company, Drivers Edge Insurance Company f/k/a Consolidated National Insurance Company, Erie Family Life Insurance Company, Erie Insurance Exchange, Jefferson Insurance Company of New York, The Phoenix Insurance Company, Security Mutual Insurance Company, St. Paul Mercury Insurance Company, The Travelers Companies, Inc., and United States Fidelity and Guaranty Company. The Court orders the parties to submit supplemental briefing on whether Plaintiffs claims against any of these Defendants are based on Texas insurance policies by no later than July 1, 2026; otherwise, the Court will dismiss all claims against these Defendants without further notice. The Court denies the Motion with respect to the personal jurisdiction arguments asserted by St. Paul Fire & Marine Insurance Company, Travelers Casualty and Surety Company, and Travelers Indemnity Company. The Court terminates as moot the Motion to the extent that it asks the Court to deny Plaintiff's request for jurisdictional discovery. The Court denies the Motion to the extent that it asks the Court to abstain from the Illinois Claims. The Court denies the Motion as to Plaintiffs breach of contract claims (Counts Two through Thirty-Three) and Texas Insurance Code Sec. 541.060(a)(3), (a)(4), and (a)(7) claims (Count Thirty-Five). The Court denies the Motion as to Plaintiffs bad faith claim (Count Thirty-Four), without prejudice to the Defendants filing a renewed motion to dismiss that briefs the applicable state law. The Court grants the Motion as to Plaintiffs Texas Insurance Code Sec. 541.060(a)(2) claim (Count Thirty-Five). Given the Federal Rules of Civil Procedure's liberal policy of allowing amendments to pleadings, the Court grants Plaintiff leave to amend her Amended Complaint with respect to this claim. A copy of the Court's Memorandum Opinion and Order dated June 17, 2026, is available at http://urlcurt.com/u?l=EJT9sx About Boy Scouts of America The Boy Scouts of America -- https://www.scouting.org/ -- is a federally chartered non-profit corporation under title 36 of the United States Code. Founded in 1910 and chartered by an act of Congress in 1916, the BSA's mission is to train youth in responsible citizenship, character development, and self-reliance through participation in a wide range of outdoor activities, educational programs, and, at older age levels, career-oriented programs in partnership with community organizations. Its national headquarters is located in Irving, Texas. The Boy Scouts of America and affiliate Delaware BSA, LLC, sought Chapter 11 protection (Bankr. D. Del. Lead Case No. 20-10343) on Feb. 18, 2020, to deal with sexual abuse claims. Boy Scouts of America was estimated to have $1 billion to $10 billion in assets and at least $500 million in liabilities as of the bankruptcy filing. The Debtors have tapped Sidley Austin LLP as their bankruptcy counsel, Morris, Nichols, Arsht & Tunnell LLP as Delaware counsel, and Alvarez & Marsal North America, LLC, as financial advisor. Omni Agent Solutions is the claims agent. The U.S. Trustee for Region 3 appointed a tort claimants' committee and an unsecured creditors' committee on March 5, 2020. The tort claimants' committee is represented by Pachulski Stang Ziehl & Jones, LLP, while the unsecured creditors' committee is represented by Kramer Levin Naftalis & Frankel, LLP. The Debtors obtained confirmation of their Third Modified Fifth Amended Chapter 11 Plan of Reorganization (with Technical Modifications) on September 8, 2022. The Order was affirmed on March 28, 2023. The Plan was declared effective on April 19, 2023. The Hon. Barbara J. House (Ret.) has been appointed as trustee of the BSA Settlement Trust. BOY SCOUTS: Trustee Seeks Turnover of $211MM from Insurers ---------------------------------------------------------- Alex Wittenberg of Law360 Bankruptcy Authority reports that a Delaware bankruptcy judge has been asked to require four insurance companies to turn over $211 million in escrowed funds to the Boy Scouts of America settlement trust. The motion was filed by the trustee overseeing compensation payments to sexual abuse survivors under the organization's confirmed Chapter 11 plan. The disputed funds stem from interest generated on more than $1.4 billion in settlement proceeds that were placed in escrow while appeals of the Boy Scouts bankruptcy plan worked their way through the courts. Those appeals concluded earlier this 2026 when the U.S. Supreme Court declined further review, the report relays. According to the trustee, the insurers have no basis for continuing to withhold the accrued interest now that the underlying appeals have been resolved. The trust maintains that the additional funds should be made available to support distributions to abuse claimants. About Boy Scouts of America The Boy Scouts of America -- https://www.scouting.org/ -- is a federally chartered non-profit corporation under title 36 of the United States Code. Founded in 1910 and chartered by an act of Congress in 1916, the BSA's mission is to train youth in responsible citizenship, character development, and self-reliance through participation in a wide range of outdoor activities, educational programs, and, at older age levels, career-oriented programs in partnership with community organizations. Its national headquarters is located in Irving, Texas. The Boy Scouts of America and affiliate Delaware BSA, LLC, sought Chapter 11 protection (Bankr. D. Del. Lead Case No. 20-10343) on Feb. 18, 2020, to deal with sexual abuse claims. Boy Scouts of America was estimated to have $1 billion to $10 billion in assets and at least $500 million in liabilities as of the bankruptcy filing. The Debtors have tapped Sidley Austin LLP as their bankruptcy counsel, Morris, Nichols, Arsht & Tunnell LLP as Delaware counsel, and Alvarez & Marsal North America, LLC, as financial advisor. Omni Agent Solutions is the claims agent. The U.S. Trustee for Region 3 appointed a tort claimants' committee and an unsecured creditors' committee on March 5, 2020. The tort claimants' committee is represented by Pachulski Stang Ziehl & Jones, LLP, while the unsecured creditors' committee is represented by Kramer Levin Naftalis & Frankel, LLP. The Debtors obtained confirmation of their Third Modified Fifth Amended Chapter 11 Plan of Reorganization (with Technical Modifications) on September 8, 2022. The Order was affirmed on March 28, 2023. The Plan was declared effective on April 19, 2023. The Hon. Barbara J. House (Ret.) has been appointed as trustee of the BSA Settlement Trust. BRD LAND: Claims to be Paid from Property Sale Proceeds ------------------------------------------------------- BRD Land & Investment and its affiliates filed with the U.S. Bankruptcy Court for the Western District of North Carolina a Disclosure Statement for Joint Amended Plan of Liquidation dated June 12, 2026. BRD Land & Investment ("BRD") is a South Carolina partnership. BRDL Warden Station, LLC, ("Warden Station") is a North Carolina limited liability company. BRDL Warden Station Holding Co, LLC ("Holding Co" and, collectively with BRD and Warden Station, the "Debtors"), is a North Carolina limited liability company. BRD is an entitlement and permitting company focusing on selling shovel-ready land to national and regional homebuilders. Warden Station is a project-specific entity that holds title to real property in Horry County, South Carolina, for BRD's Warden Station project. BRD provides all services to advance the project. Holding Co is also a project-specific entity that is the sole Member and a Manager of Warden Station. The Debtors' bankruptcy filings followed a substantial shift in the residential development industry; namely, the drastic decline in (and, in some cases, the disappearance of) first-time homebuyers at levels unseen since the 2008 financial crisis. In that economic environment, the Debtors saw thirteen projects terminate while seven additional projects became nonviable due to market contractions. Those terminations resulted in a reduction of total projected pipeline gross revenue of $390 million in 2025. Meanwhile, as the Debtors attempted to preserve cash to continue advancing projects to completion and closing, its secured lender, DLP Lending Fund, LLC, demanded accelerated principal payments to allow the Debtors to close on sales for which DLP held secured debt through deeds of trust. The combination of both factors caused a liquidity crisis for the Debtors that forced them to seek the breathing spell granted by the Bankruptcy Code. Operationally, the Debtors have used the "breathing spell" provided by the Bankruptcy Code to market and sell both its owned real property with a focus on the Pinewood Tract, Clark Tract, and Warden Station Tract. The Debtors also evaluated their land purchase agreements to determine whether certain agreements terminated prepetition, terminated post-petition, or were assumable and assignable post-petition. With the assistance of their Professionals, the Debtors are identifying or have identified stalking horse bidders along with other potential bidders in those two categories of assets. As the Debtors began their analysis of potential sales, they made the determination that emerging reorganized from the Bankruptcy Case was not feasible. Instead, the Debtors believe an orderly wind-up of their affairs maximizes the value to their Creditors and parties in interest. Class 7 consists of the General Unsecured Claims that become Allowed Claims. Each holder of a General Unsecured Claim that becomes an Allowed Claim shall be paid Pro Rata Shares of the remaining Net Estate Cash following payment of the Class 6 Priority Claims that become Allowed Claims on the Distribution Date up to the full amounts of their General Unsecured Claims that become Allowed Claims as of the Petition Date. Class 7 is Impaired by the Plan. The holders of Class 7 Claims are entitled to vote to accept or reject the Plan. Class 8 consists of the Unsecured Deficiency Claims that become Allowed Claims. Each holder of an Unsecured Deficiency Claim that becomes an Allowed Claim shall be paid Pro Rata Shares of the remaining Net Estate Cash in pari passu with Class 7 following payment of the Class 7 General Unsecured Claims that become Allowed Claims on the Distribution Date up to the full amounts of their Unsecured Deficiency Claims that become Allowed Claims as of the Petition Date. Class 8 is Impaired by the Plan. The holders of Class 8 Claims are entitled to vote to accept or reject the Plan. Class 9 consists of Allowed Equity Interests. After satisfaction of all Allowed Claims of higher priority, holders of Allowed Equity Interests shall receive distributions of any remaining Net Estate Cash on the Distribution Date commensurate with their ownership percentages and shall retain such Equity Interests in the Wind-Up Debtors; provided, however, that holders of Allowed Equity Interests will not receive or retain any property pursuant to the Plan unless all Allowed Claims of higher priority are fully satisfied as set forth in the Plan. If all Allowed Claims of higher priority are not so satisfied, Equity Interests in the Debtors and/or Wind-Up Debtors shall be deemed cancelled and the Debtors and/or Wind-Up Debtors shall be dissolved under applicable law. Class 8 is Impaired by the Plan. The holders of Allowed Equity Interests in the Debtors are entitled to vote to accept or reject the Plan. This Plan is a liquidating Plan that is intended to equitably dispose of the Debtors' assets. Upon confirmation, a Liquidating Agent will liquidate the Debtors' assets. Distributions under the Plan will be funded by the Property Sales; by the assumption and assignment of the Assumed Agreements; by the recoveries, if any, of Avoidance Actions pursued by the Liquidating Agent; and by Debtors' or Wind Up Debtors', as the case may be, cash on hand on the Distribution Date. The Debtors and/or Wind-Up Debtors shall have discretion to retain a reasonable portion of Net Estate Cash to fund the Disputed Claims Reserve of the Plan described herein to account for Disputed Claims, if any. When all Disputed Claims and Avoidance Actions are resolved by Final Order, all remaining cash or property in the Disputed Claims Reserve shall be disbursed in accordance with Section 7.3 of the Plan. A full-text copy of the Disclosure Statement dated June 12, 2026 is available at https://urlcurt.com/u?l=NXxkQ6 from Kurtzman Carson Consultants, LLC d/b/a Verita Global, claims agent. Counsel to the Debtors: RAYBURN COOPER & DURHAM, P.A. Matthew L. Tomsic, Esq. Natalie E. Kutcher, Esq. Suite 1200, The Carillon 227 West Trade Street Charlotte, NC 28202 Tel: (704) 334-0891 About BRD Land & Investment BRD Land & Investment filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D.N.C. Case No. 26-30215) on February 24, 2026, listing $10,000,001 to $50 million in assets and $50,000,001 to $100 million in liabilities. Judge Laura T Beyer presides over the case. Matthew L Tomsic, Esq., at Rayburn Cooper Durham P.A., and GreerWalker, LLP serve as the Debtor's legal counsel and financial advisor, respectively. The official committee of unsecured creditors appointed in the Debtors' cases tapped Fox Rothschild, LLP as legal counsel and IslandDundon, LLC as financial advisor. BREASHEARS ROOFING: Taps Kutner Brinen Dickey Riley as Counsel -------------------------------------------------------------- Breashears Roofing seeks approval from the U.S. Bankruptcy Court for the District of Colorado to employ Kutner Brinen Dickey Riley, PC as counsel. The firm will render these services: (a) provide the Debtor with legal advice with respect to its powers and duties; (b) aid the Debtor in the development of a plan of reorganization under Chapter 11; (c) file the necessary petitions, pleadings, reports, and actions which may be required in the continued administration of the Debtor's property under Chapter 11; (d) take necessary actions to enjoin and stay until final decree herein continuation of pending proceedings and to enjoin and stay until final decree herein commencement of lien foreclosure proceedings and all matters as may be provided under 11 U.S.C. section 362; and (e) perform all other legal services for the Debtor which may be necessary herein. The firm will be paid at these hourly rates: Jeffrey Brinen, Attorney $600 Jenny Fujii, Attorney $440 Jonathan Dickey, Attorney $425 Keri Riley, Attorney $410 Paralegal $100 In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer of $25,000 from the Debtor. Mr. Dickey 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: Jonathan M. Dickey, Esq. Kutner Brinen Dickey Riley, PC 1660 Lincoln Street, Suite 1720 Denver, CO 80264 Telephone: (303) 832-2400 Email: jmd@kutnerlaw.com About Breashears Roofing Breashears Roofing is a Monument, Colorado-based roofing contractor providing commercial and residential roofing services to commercial property owners, homeowners, property managers, and building owners. It serves the greater Colorado Springs area, the Western Slope, and the Intermountain area. Breashears Roofing filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Colo. Case No. 26-14092) on June 8, 2026, with $100,001 to $500,000 in assets and $1 million to $10 million in liabilities. Judge Thomas B. McNamara presides over the case. Jonathan Dickey, Esq., at Kutner Brinen Dickey Riley, PC represents the Debtor as counsel. BRIGHT MOUNTAIN: Sells Mom.com Domain to Static Media for $1.1-Mil. ------------------------------------------------------------------- Bright Mountain Media, Inc. announced in a regulatory filing that through its wholly owned subsidiary, CL Media Holdings LLC, it entered into that certain Domain Name and Social Media Handles Purchase and Sale Agreement with Static Media, Inc., pursuant to which the Company sold, assigned, transferred, conveyed, and delivered to Static all right, title, and interest in and to the domain name "www.mom.com" and certain social media accounts related to the Domain Name for a purchase price of $1.1 million. In connection with the closing of the Domain Name Sale, the Company was required to obtain the consent of Centre Lane Partners Master Credit Fund II, L.P. and the Lenders to the Domain Name Sale pursuant to that certain Amended and Restated Senior Secured Credit Agreement among the Company, the Company's subsidiaries--CL Media, Bright Mountain LLC, MediaHouse, Inc., Deep Focus Agency LLC, and BV Insights LLC--the lenders party thereto, and Centre Lane Partners, as Administrative Agent and Collateral Agent, dated June 5, 2020, as amended. In addition to the consent of Centre Lane Partners and the Lenders to the Domain Name Sale, the CLP Consent included certain amendments to the Credit Agreement, including the following: * Within ten days of the closing of the Domain Name Sale, the Company agreed to prepay approximately $613,000 of the First Out Loans (as defined in the Credit Agreement) outstanding under the Credit Agreement from the proceeds of the Domain Name Sale, which prepayment shall be applied to the amortization payment due on the First Out Loans under the Credit Agreement on June 30, 2026, in full fulfillment of the June 2026 First Out Amortization Payment. * All other amounts due under the Credit Agreement on June 30, 2026, including the amortization payment due on the Second Out Loans (as defined in the Credit Agreement), will be paid-in-kind instead of paid in cash, which amounts represented approximately $1.0 million in the aggregate. Aside from the foregoing, the CLP Consent did not amend or otherwise alter any other terms of the Credit Agreement. A full text copy of the CLP Consent is available at https://tinyurl.com/5a5ra8wb About Bright Mountain Bright Mountain Media, Inc. (together with its wholly-owned subsidiaries) is an end-to-end marketing services company that helps brands with the right audiences, at the right time, with the right message, both effectively and efficiently by removing the middlemen in the marketing workflow. The Company's end-to-end offerings combine consumer insights with creative services, media services, and advertising technology to deliver solutions to improve audience fidelity for brands. The Company focuses on digital publishing, advertising technology, consumer insights, creative services, and media services. New York, New York-based WithumSmith+Brown, PC, the Company's auditor since 2021, issued a "going concern" qualification in its report dated March 24, 2026, attached to the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2025. The report cited that the Company has suffered recurring losses from operations and has a net capital deficiency that raise substantial doubt about its ability to continue as a going concern. As of March 31, 2026, the Company had $37.3 million in total assets, $115.2 million in total liabilities, and $77.29 million in total stockholders' deficit. BROADWAY LEARNING: Seeks to Hire Baker & Associates as Counsel -------------------------------------------------------------- Broadway Learning Center LLC, doing business as Pearland Kids Club, seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Baker & Associates as counsel. The firm's services include: (a) analyze the financial situation, and render advice and assistance to the Debtor; (b) advise the Debtor with respect to its duties; (c) prepare and file all appropriate legal papers; (d) represent the Debtor at the first meeting of creditors and such other services as may be required during the course of the bankruptcy proceedings; (e) represent the Debtor in all proceedings before the Court and in any other judicial or administrative proceeding where its rights may be litigated or otherwise affected; (f) prepare and file a Disclosure Statement (if required) and Chapter 11 Plan of Reorganization; and (g) assist the Debtor in any matters relating to or arising out of the captioned case. The firm will seek reimbursement for expenses incurred. Prior to the filing of the case, Daniel Escobedo, on behalf of the Debtor, sent to the firm the amount of $16,738 as retainer. Reese Baker, Esq., an attorney at Baker & Associates, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Reese W. Baker, Esq. Baker & Associates 950 Echo Lane, Ste. 300 Houston, TX 77024 About Broadway Learning Center LLC Broadway Learning Center LLC, doing business as Pearland Kids Club, is a preschool and childcare center serving Pearland, Texas. Founded in 2016, the center provides infant care, toddler care, preschool programs, after-school programs, and summer camp programs for children from 6 weeks to 12 years old. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-33621) on May 22, 2026, with $50,000 to $100,000 in assets and $1 million to $10 million in liabilities. Nathan Cole, authorized agent, signed the petition. Judge Jeffrey P. Norman presides over the case. Reese Baker, Esq. at Baker & Associates represents the Debtor as counsel. BYJU'S ALPHA: Motion to Dismiss OCI, et al. Case Held in Abeyance ----------------------------------------------------------------- Judge Brendan Linehan Shannon of the U.S. Bankruptcy Court for the District of Delaware holds in abeyance the motion to dismiss filed by Rupin Banker in the adversary proceeding captioned as Byju's Alpha, Inc., Plaintiff, v. OCI Limited and Rupin Banker, Defendants, Adv. Pro. No. 25-50822 (BLS) (Bankr. D. Del.). By Defendant's motion to dismiss, he seeks dismissal of the complaint pursuant to Rule 12(b)(2) of the Federal Rules of Civil Procedure, as made applicable to this adversary proceeding by Rule 7012(b) of the Federal Rules of Bankruptcy Procedure. Plaintiff-Debtor BYJU's Alpha is a Delaware corporation with its principal place of business in the State of Illinois. The Debtor was formed on September 27, 2021, as a special purpose financing vehicle of its former ultimate corporate parent, Think & Learn Private Ltd. ("T&L"), an Indian entity. Until March 3, 2023, T&L wholly owned the Debtor through an intermediate subsidiary, BYJU's Pte. Ltd. The Debtor has never had any material active business operations. On March 3, 2023, Timothy R. Pohl became the Debtor's sole director and sole officer, and he has remained in these roles at all times through the present. Defendant OCI Limited is a private limited company organized and existing under the laws of the United Kingdom with its registered offices at Burton Varley Ltd., Suite 3, 2nd Floor, Didsbury House, 748-754 Wilmslow Road, Manchester, England, M20 2DW. Defendant Rupin Banker is a structuring advisor and member of the senior leadership team of OCI, and, upon information and belief, he is a resident of London, United Kingdom. The central issue in this bankruptcy has been the theft of $533 million, the "Alpha Funds," from the Debtor. On February 27, 2025, the Bankruptcy Court granted the Debtor's motion for partial summary judgment and then, among other things, avoided the Debtor's (i) transfer of the Alpha Funds to Camshaft Fund and (ii) subsequent transfer of the Camshaft LP Interest to Inspilearn for the benefit of Think & Learn as fraudulent transfers under 11 U.S.C. Secs. 544 and 548. The Court further held that Riju Ravindran, the Debtor's "incompetent" former director and executive officer, breached his fiduciary duties to the Debtor by authorizing the transfers. As of today, the Alpha Funds have not been recovered. However, despite the concerted efforts of bad actors around the globe, five of whom have been held in contempt, including Riju and the sham hedge fund (Camshaft) that first received the Alpha Funds, the Debtor has successfully uncovered significant information about the theft. On November 24, 2021, GLAS Trust Company LLC ("GLAS"), as Administrative and Collateral Agent, the Lenders, the Debtor, T&L, and certain other T&L subsidiaries as guarantors, closed on a $1.2 billion term loan facility that would mature in five years, absent acceleration. The definitive terms of that facility are memorialized in several agreements, including a Credit and Guaranty Agreement (the "Credit Agreement"). From March to September 2022, the Debtor and its affiliates failed to satisfy the covenants at least four times, each of which, on its own, empowered the Lenders to accelerate the term loans and exercise control of the Debtor, among other remedies. The Complaint alleges between April and July 2022, Riju and T&L caused the Debtor to transfer the Alpha Funds to Camshaft Fund as the initial transferee (i.e., the First, Second, and Third Transfers). The full amount of the Alpha Funds were nearly-simultaneously "loaned" by Camshaft Fund to OCI pursuant to three Promissory Notes (the "Subsequent Transfers"). In coordination with T&L and Camshaft Fund, OCI orchestrated the Subsequent Transfers of the Alpha Funds to it. Given OCI's involvement in devising and structuring the BYJU's-Camshaft-OCI arrangement, OCI knew that the original Transfers were avoidable fraudulent transfers. That is because, much like Camshaft, OCI, another sham enterprise, was aware of numerous red flags, and that the parties were papering a deal that was needlessly complex and inherently deceptive. There were far simpler ways to transfer $533 million from the Debtor to OCI, including without having to pay Camshaft Fund an eight-figure "tip." The terms of the Side Letters and Promissory Notes did not line up with their economic substance. According to the Complaint, both the Debtor and OCI misrepresented the arrangement on their financial statements. And OCI's role in the cover-up since at least 2023 corroborates its knowledge of the Debtor's actual fraudulent intent. COUNT TWO AIDING AND ABETTING RIJU RAVINDRAN'S BREACH OF FIDUCIARY DUTIES (AGAINST OCI LIMITED AND RUPIN BANKER) Riju was the sole director of the Debtor from its incorporation on September 27, 2021, and was an officer from September 29, 2021 through at least the time of the three Transfers and the Subsequent Transfers. As such, he owed non-waivable fiduciary duties to the Debtor. At the time of the Transfers and the Subsequent Transfers, the Debtor, under applicable law, was insolvent or became insolvent as a direct result of its making the transfers, was inadequately capitalized, and/or was unable to pay its debts as they came due, and remained so at all times thereafter through the Petition Date. According to the Complaint, even if the Debtor was not insolvent at the time of the First, Second, and Third Transfers, Riju's actions to transfer the Alpha Funds would have rendered the Debtor unable to meet its contractual obligations under the Credit Agreement. The Complaint states because the Debtor either was insolvent at the time of the First, Second, and Third Transfers, or was rendered unable to meet its contractual obligations by Riju's action, Riju owed to the Debtor, for the benefit of the Debtor and its creditors, fiduciary duties to: (i) act with the care that an ordinarily prudent director and officer of a Delaware corporation would in a similar position, (ii) serve in the best interests of the Debtor, for the benefit of the Debtor and its creditors; and (iii) refrain from intentionally acting with a purpose other than to advance the best interests of the Debtor, for the benefit of the Debtor and its creditors. As the sole director and officer of the Debtor at the time, Riju caused the Debtor to transfer the Alpha Funds to Camshaft Fund without conducting any due diligence or investigation. The Complaint alleges OCI and Banker knowingly participated in Riju's fiduciary breaches, with specific knowledge that Riju was the sole director of the Debtor and of the Debtor's corporate and ownership structure. COUNT THREE AIDING AND ABETTING T&L'S BREACH OF FIDUCIARY DUTIES (AGAINST OCI LIMITED AND RUPIN BANKER) During the time that T&L was the Debtor's ultimate parent company, T&L had ultimate and exclusive control and authority over the Debtor. As Riju testified, every single decision with respect to the Alpha Funds came from T&L. According to the Complaint, with its authority as the Debtor's ultimate parent company, in April 2022 and July 2022, T&L caused the Debtor to transfer the Alpha Funds to Camshaft Fund, by ordering Riju to sign the necessary subscription agreements, with the intent to hinder, delay, and/or defraud present or future creditors. OCI and Banker knowingly participated in T&L's fiduciary breaches, with specific knowledge that, though the Debtor was the source of the $533 million Alpha Funds, T&L was the decisionmaker on its behalf. COUNT FOUR AIDING AND ABETTING CAMSHAFT MANAGEMENT'S BREACH OF FIDUCIARY DUTIES (AGAINST OCI AND BANKER) Camshaft Management, as the sole general partner of Camshaft Fund, owed certain fiduciary duties to Camshaft fund and its limited partners, including the Debtor. According to the Complaint, Camshaft Management negotiated, executed, and consummated the First, Second, and Third Transfers, and the Subsequent Transfers at issue. Throughout that process, Camshaft Management actively negotiated for an arrangement that was off-market and harmful to the Debtor. The Complaint alleges OCI and Banker knowingly aided and abetted Camshaft Management's fiduciary breaches, including by identifying and enlisting Camshaft Management to serve as an intermediary for the First, Second, and Third Transfers and the Subsequent Transfers. Motion Plaintiffs request jurisdictional discovery if the Court is not ready to exercise personal jurisdiction at this stage. The complaint contains allegations of sufficient particularly that the Court can determine the claim is not clearly frivolous. Yet, it lacks sufficient detail for the Court to make a well-informed decision on the jurisdictional question. Therefore, the Court will permit jurisdictional discovery. In this district, courts have dealt procedurally with jurisdictional discovery requests made in connection with a pending motion to dismiss in two ways. Upon a review of the caselaw and relevant treatises, the Court concludes that holding the motion to dismiss in abeyance is the preferred approach Accordingly, Defendant's motion to dismiss is held in abeyance pending completion of jurisdictional discovery and Plaintiffs' request for jurisdictional discovery is granted. A copy of the Complaint is available at https://urlcurt.com/u?l=yadRtC from PacerMonitor.com. A copy of the Court's Memorandum Order dated June 18, 2026, is available at https://urlcurt.com/u?l=MP4Abg from PacerMonitor.com. About BYJU's Alpha BYJU's Alpha, Inc., designs and develops education software solutions. The Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No. 24-10140) on Feb. 1, 2024. In the petition signed by Timothy R. Pohl, chief executive officer, the Debtor disclosed up to $1 billion in assets and up to $10 billion in liabilities. Judge John T. Dorsey oversees the case. Young Conaway Stargatt & Taylor, LLP, and Quinn Emanuel Urquhart & Sullivan, LLP serve as the Debtor's legal counsel. GLAS Trust Company LLC, as DIP Agent and Prepetition Agent, is represented in the Debtor's case by Kirkland & Ellis LLP, Pachulski Stang Ziehl & Jones, and Reed Smith. CALIFORNIA RESOURCES: Fitch Rates New $550MM Unsec. Notes 'BB-' --------------------------------------------------------------- Fitch Ratings has assigned a 'BB-' rating with a Recovery Rating of 'RR4' to California Resources Company's (CRC) proposed $550 million senior unsecured notes due 2035. The company intends to use the notes' net proceeds, along with borrowings under its revolving credit facility and/or cash on hand, to fund the redemption of all outstanding $550 million senior notes due 2029 and pay any associated fees and premiums. CRC's ratings reflect the improved regulatory environment in California, which materially reduces future permitting risks, and management's planned return to organic growth. The ratings also reflect the company's low-decline asset base, increased scale following the Berry Corp. combination, strong FCF, sub-1.5x EBITDA leverage and ample liquidity. These factors are partially offset by the company's high-cost structure relative to its peers. Key Rating Drivers Notes Issuance Extends Maturities: CRC's proposed senior unsecured note offering and the expected redemption of its 2029 notes will meaningfully extend the maturity profile and provide ample runway to generate FCF and execute organic growth initiatives. The transaction provides CRC with over seven years of maturity runway and does not impact the company's midcycle EBITDA leverage metrics, which Fitch views favorably. Fitch expects the transaction will also reduce interest expense, which will support the medium-term FCF profile. Regulatory Improvements Support Permitting: California's favorable regulatory changes reduce permitting risks for CRC and support the upgrade. The passage of SB 237 in September 2025 and the resumption of new drill permitting in Kern County increases capital flexibility and provides development certainty for the next decade. Management has secured permits for its 2026 drilling program and has started permitting for its 2027 program, which should support organic production growth through the medium term. Return to Organic Growth: Management plans to accelerate its organic growth by adding three drilling rigs in 2H26 which should help reverse the company's prior organic growth decline. Under the new program, CRC is targeting about 1% growth in entry-to-exit gross production during 2026, which Fitch expects will result in single-digit growth in 2027. Fitch believes CRC will be able to maintain its production scale and adequately replace its reserves in the medium and long term, supported by the improved permitting environment. Strong FCF; Structural Cost Reductions: Fitch projects FCF after dividends of around $350 million in 2026 under management's capital program of about $540 million. The FCF profile is also supported by management's targeted $460 million of cumulative synergies and structural cost reductions through 2028, which Fitch views as achievable. Management has increased its Berry-related synergy target by $10 million and lowered its 2026 estimated facilities capital by $10 million, driven by operating efficiencies. Near-Term Hedging Protection: CRC is hedging around 65% of its remaining 2026 estimated oil production at an average Brent floor price of $65/bbl along with natural gas hedges. Fitch expects hedge losses during 2026 at Fitch's $87/bbl Brent oil price, which could continue in 2027 if current strip prices hold. Fitch expects hedging will continue, albeit potentially at lower levels, as CRC's credit facility requires minimum hedging of 50% to 0% with leverage above 2.0x or below 1.5x, respectively. Sub-1.5x Midcycle Leverage: Fitch forecasts pro forma gross debt/EBITDA at 1.0x in 2026 and sub-1.5x through the remainder of the forecast. CRC's maturity profile remains clear until 2034 when the $750 million 7.000% notes are due. High-Cost Producer: CRC's cost structure is higher than that of most Fitch-rated U.S. onshore exploration and production (E&P) peers; however, this is partially offset by the company's Brent-linked oil price realizations and stronger gas realizations than its peers. Fitch-calculated total cash operating costs, including operating costs, transportation expenses, G&A and production taxes, remain at the higher end of Fitch's aggregate E&P peer group and lead to a higher breakeven oil price compared with that of its closest peers. Peer Analysis CRC's 1Q26 production averaged 154 Mboepd (81% oil). This is larger than Vermilion Energy Inc. (BB-/Negative; 126 Mboepd) and similar to Northern Oil & Gas (BB-/Stable; 148 Mboepd), but smaller than Crescent Energy Company (BB-/Positive; 341 Mboepd) and Matador Resources Company (BB/Stable; 208 Mboepd). CRC's realized prices are typically higher than peers given the exposure to premium Brent pricing and the low-decline asset base leads to lower capital intensity than peers. This is partially offset by the company's higher operating costs, which results in lower Fitch-calculated unhedged cash netbacks compared to Fitch's aggregate peer average. Fitch’s Key Rating-Case Assumptions - Brent oil prices of $87/bbl in 2026, $65/bbl in 2027 and $60/bbl thereafter; - Henry Hub prices of $3.50/thousand cubic feet (mcf) in 2026, $3.25/mcf in 2027, $3.00/mcf in 2028 and $2.75/mcf thereafter; - Successful launch of proposed 2035 notes and redemption of existing 2029 notes; - Average production of 155 Mboepd with single-digit growth thereafter; - Capex of $540 million in 2026 with growth-linked spending thereafter; - Measured increases to shareholder returns; - No material M&A activity. 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 (bb+, Moderate), market and competitive positioning (bb, Moderate), diversification and asset quality (bb+, Moderate), company operational characteristics (bb, Moderate), profitability (b+, Higher), financial structure (aa-, Lower), and financial flexibility (bbb-, Lower). - The quantitative financial subfactors are based on custom CRT financial period parameters: 10% weight for the historical year 2025, 10% for the forecast year 2026, 10% for the forecast year 2027, 15% for the forecast year 2028 and 55% for the forecast year 2029. - The Governance assessment of 'good' has no impact. - The Operating Environment assessment of 'a+' has no impact. - The SCP is 'bb-'. To derive the Long-Term IDR: - Fitch made no adjustments to the SCP, resulting in an IDR of 'BB-'. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - Inability to organically replace reserves that results in material production declines and/or weakened profitability; - Deteriorating liquidity profile, including material revolver borrowings and an inability to generate positive FCF; - Midcycle EBITDA leverage sustained above 2.0x; - Unfavorable regulatory actions that limit access to new permits. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - Increased scale evidenced by midcycle EBITDA approaching $1.5 billion; - FCF generation that supports the liquidity profile and limited borrowings under the revolver; - Commitment to conservative financial policy resulting in midcycle EBITDA leverage sustained below 1.5x. Liquidity and Debt Structure As of May 31, 2026, CRC had $32 million cash on hand (excluding $14 million of restricted cash) and no outstanding borrowings under the $1.46 billion revolving credit facility. Fitch projects positive FCF throughout the forecasts, which supports the liquidity profile along with the company's near-term hedge program. Following the proposed notes issuance and expected 2029 notes redemption, the maturity profile will remain clear until 2034. Issuer Profile California Resources Corporation is an integrated public E&P company that operates solely in California. Date of Relevant Committee May 31, 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 CRC's 2035 revenue-weighted Climate.VS is 55 out of 100, which is in line with its upstream North American oil and gas production peers. Key transition risks arise from a potential reduction in demand driven by policies designed to reduce the use of oil and gas in the global economy and, in the short term, from policies designed to limit greenhouse gases (GHG) from the production of oil and gas. These risks do not materially influence the rating given the very long-term time scale over which the transition may take place and uncertainty regarding the extent and nature of changes, along with markets' and companies' reactions to them. CRC's production profile is liquids-focused, but the company has extensive plans to meet California's GHG reduction targets and continues to advance its carbon management (CM) businesses to reduce its carbon footprint in the medium and long term. The company's goals include a 2045 full-scope net zero target and an energy transition strategy that includes the company's Carbon TerraVault business and related carbon capture and sequestration projects. Fitch believes CRC is better positioned to manage medium- and long-term energy transition risks than its small and midsize E&P peers because of its first-mover advantage in California, meaningful CM investments over the last few years and supportive joint venture with Brookfield, which provides added expertise and derisks future funding needs. 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 ----------- ------ -------- California Resources Corporation senior unsecured LT BB- New Rating RR4 CATTLE CARTEL: Gets Final OK to Use Cash Collateral --------------------------------------------------- Cattle Cartel, LLC and M&O LLC received final approval from the U.S. Bankruptcy Court for the District of Kansas to use cash collateral to fund operations. Under the final order, the Debtors are authorized to use cash collateral in accordance with the court-approved budget and a confirmed Chapter 11 plan of reorganization. The Debtors' authority to use cash collateral will remain in effect until the earliest of a further court order, dismissal or conversion of their bankruptcy cases, or the effective date of a confirmed reorganization plan. The order does not alter or affect the validity, extent, or priority of any valid pre-petition secured lenders' liens. The final order is available at https://is.gd/qQlTkc from PacerMonitor.com. The Debtors' operations rely heavily on working capital generated from receivables, inventory sales, and other operational cash flows, much of which is subject to security interests held by their pre-petition lenders. Secured lenders -- Commercial Capital Company, L.L.C. and Oxford Financial Services, LLC -- hold security interests in the cash collateral. These lenders have perfected liens on substantially all of the Debtors' assets, including accounts receivable, inventory, equipment, machinery, and general intangibles, along with the proceeds generated from those assets. About Cattle Cartel LLC Cattle Cartel, LLC is a Kansas-based agricultural and livestock company engaged in cattle operations, including cattle ownership, trading, and related agricultural services. Cattle Cartel and affiliate, M&O LLC, sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Kansas Lead Case No. 26-20079) on January 23, 2026. In their petitions, Cattle Cartel reported $1 million to $10 million in assets and $500,001 to $1 million in liabilities while M&O reported $500,001 to $1 million in assets and $100,001 to $500,000 in liabilities. Honorable Chief Bankruptcy Judge Dale L. Somers handles the cases. The Debtors are represented by Robert Hammeke, Esq., at Dentons US, LLP. CHANNEL OP: Seeks to Tap Trader Orton and Spangler as Accountant ---------------------------------------------------------------- Channel OP, LLC seeks approval from the U.S. Bankruptcy Court for the District of Utah to employ Trader Orton and Spangler, PLLC as accountant. The firm's services include: (a) render accounting assistance in the preparation of monthly financial reports required to be filed with this Court; (b) render assistance in connection with the Debtor's reorganization and other business matters; (c) prepare necessary financial projections; (d) prepare tax returns and provide tax planning advice; and (e) advise the Debtor on any other financial matters that may arise in its estate. The firm will be paid $150 per hour for monthly bookkeeping services, and $5,500 for preparation of the Debtor's 2025 tax returns. In addition, the firm will seek reimbursement for expenses incurred. Matthew Orton, CPA, a partner at Trader Orton & Spangler, 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: Matthew Orton, CPA Trader Orton & Spangler, PLLC 3263 South Highway 89, Suite 100 Bountiful, UT 84010 About Channel Op LLC Channel Op, LLC operates as a digital commerce and marketplace strategy firm headquartered in Heber City, Utah. Channel Op sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Utah Case No. 26-22035) on April 13, 2026. In the petition signed by William Tyler Metcalf, chief executive officer, the Debtor disclosed up to $50,000 in assets and up to $10 million in liabilities. Judge Michael F. Thomson oversees the case. George B. Hofmann, Esq., at Cohne Kinghorn, PC represents the Debtor as counsel. CHEMCAT ACQUISITIONCO: S&P Assigns 'B' ICR, Outlook Stable ---------------------------------------------------------- S&P Global Ratings assigned its 'B' issuer credit rating to ChemCat AcquisitionCo LLC (dba Ketjen), the issuer of the audited financial statements going forward. S&P said, "We also assigned a 'B' issue-level rating and '3' recovery rating to the company's revolving credit facility and term loan B, reflecting our expectation for a meaningful recovery (rounded estimate: 65%) in a default scenario. "The stable outlook reflects our expectation that based on the new capital structure, credit metrics will remain appropriate for the rating over the next 12 months, with support from targeted EBITDA margin improvements and modest sales growth." In March 2026, private-equity firm KPS Capital Partners acquired a 51% stake in Ketjen Corp.'s refining catalyst solutions business. The company financed the transaction with a mix of bank debt issued by subsidiary ChemCat AcquisitionCo LLC (dba Ketjen) and cash equity from KPS. Albemarle Corp. retained a minority stake (49%) through rollover equity. Ketjen is seeking to refinance the committed bank debt with a new senior secured credit facility comprising a $125.0 million senior secured revolver and a $400.0 million senior secured term loan B. S&P believes there is relatively less execution risk compared with a typical transaction, since Ketjen has been operating autonomously as a standalone segment for a few years. As part of the proposed refinancing, Ketjen's proposed capital structure will include a $125 million senior secured revolving credit facility due 2031 and a $400 million senior secured term loan B due 2033. KPS holds 51% equity ownership in the company, while Albemarle retained 49% by rolling over its equity. The carve-out transaction only included Ketjen's refining catalyst solutions business. While corporate carve outs comes with risks of converting and operating as a stand-alone business, Ketjen has operated as a standalone segment with audited financial statements, and KPS has experience in carve outs from large corporations. S&P will continue to monitor the execution of this transition into a stand-alone company over the coming quarters. The financial risk profile reflects Ketjen's solid credit metrics, somewhat tempered by private-equity ownership. Ketjen's current credit metrics are strong at the rating, with weighted-average funds from operations (FFO) to debt of about 20% and weighted-average debt to EBITDA of 3x-4x. However, its financial risk profile assessment also incorporates the new financial-sponsor majority ownership. Aggressive financial policies, similar to those adopted by other private-equity sponsors, could affect the sustainability of Ketjen's credit profile going forward. S&P will monitor financial policy and could reassess its view on the rating or outlook if S&P notes a trend of successful earnings improvement and a demonstrated track record of prudent decisions supporting such credit metrics. S&P said, "We expect Ketjen to generate positive free operating cash flow (FOCF) in 2026 and 2027. We believe it will maintain adequate liquidity, with its sources at least 1.2x its uses over the next 12 months and no meaningful debt maturities in the next few years. We also believe it has a sufficient cushion under the financial covenant. Our base case does not assume any bolt-on acquisitions or shareholder distributions." Ketjen's business risk profile is constrained, due to its relatively small scale of operations and narrow product and end-market focus.However, it benefits from market leadership positions and low customer churn. The company has a limited product focus serving the cyclical fuels refining industries, although FCC catalyst demand is less volatile. Its earnings are vulnerable due to the absence of meaningful scale and diversity, with only two fully owned production sites and two joint-venture-owned sites. EBITDA margins have improved in recent years due to management's structural optimization initiatives, such as adding input cost pass-through mechanisms into more of its contracts than it previously did. S&P said, "Margins remain below historical averages, but we expect them to grow to expand through 2027. It has begun contractual improvements, planned commercial improvements, identified cost improvement initiatives supported by the new sponsors, and will see favorable mix shift in the clean fuels technology (CFT) catalysts business. Despite expected improvement, we forecast EBITDA margins will continue to lag industry leader W.R. Grace Holdings LLC." S&P's assessment also reflects Ketjen's market leadership. It holds a top leadership position behind W.R. Grace in the fluidized catalytic cracking (FCC) catalysts business and is the leader in CFT catalysts. Across the aggregate business, its customer retention rate is high, with support from the highly customized nature and relatively low substitutability of its offerings for each of its refinery customers. However, in certain instances the company has lost contracts to competition as well. Ketjen has relatively high revenue visibility, supported by multiyear contracts, long-standing customer relationships, and the mission-critical nature of catalysts for its customers' core operations. S&P said, "The stable outlook on Ketjen reflects our expectation that its credit metrics will remain appropriate for the rating over the next 12 months. We expect it will maintain a cushion for any unexpected performance weakness emanating from softer end-market demand, issues transitioning to a stand-alone company, or slower EBITDA margin improvement. "Based on this, we expect its weighted-average S&P Global Ratings-adjusted debt to EBITDA will be 3x-4x and FFO to debt will be about 20%. We expect the company's EBITDA margins to gradually increase over time due to price-cost management, business improvement initiatives, and market penetration. Our base case does not reflect any debt-funded shareholder returns or acquisitions. "We could take a negative rating action on Ketjen within the next 12 months if we expect weighted-average debt to EBITDA to be greater than 6.5x with no prospects for improvement. This could happen if end-market demand and earnings decrease due to weaker-than-expected global economic activity or trade flow disruptions, the company loses key customers, or it cannot pass on any input cost increases. "This could also happen if Ketjen encounters any difficulties in transitioning to a stand-alone company or it undertakes large, debt-funded acquisitions or shareholder returns. Additionally, we could take a negative rating action if the company's liquidity significantly weakens. "We could take a positive rating action on Ketjen within the next 12 months if it maintains its S&P Global Ratings-adjusted FFO to debt ratio at 20%-30% while debt to EBITDA remains below 4x. Before taking a positive rating action, we would need clarity on financial policies under the new ownership to assess whether it would support credit metrics remaining at such levels after factoring in any growth initiatives." Metrics could improve to such levels if increasing market share leads to higher volumes and better fixed-cost absorption, or business improvements result in higher-than-expected EBITDA margin. EBITDA margins could also improve if product mix continues to shift more toward the sale of higher-priced products in the CFT category. S&P could also take a positive rating action if the company's scale of operations expands such that its concentration in terms of product offerings, end markets, and manufacturing sites improve considerably. COMMUNITY HOUSE: Birmingham Property Sale to Birmingham City OK'd ----------------------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of Michigan, Southern Division-Detroit, to sell Property, free and clear of liens, claim, interests, and encumbrances. Since 1923, Debtor has operated a non-profit organization serving the interests of the Birmingham and Southeast Michigan community. The Community House building has been located at 380 S. Bates in Birmingham, Michigan (Property) since 1930, and has hosted hundreds of philanthropic, community and social events. In recent years, increased costs of operations and maintaining the building have rendered ongoing operations unprofitable and unsustainable. The Debtor listed the Community House building for sale, with the goal of continuing to operate as a non-profit entity after June 30, 2026. Shortly thereafter, the City of Birmingham filed a lawsuit against Debtor and alleged Debtor was attempting to violate certain deed restrictions or conditions relating to the sale of the Property. Since the filing of the bankruptcy petition, the Debtor has continued to explore a sale, while working to resolve its dispute with the City. After exhaustive back-and-forth negotiations, the Debtor and the City have reached an agreement, subject to Court approval, for the City to purchase the Property for $5.2 million. The Court has authorized the Debtor to sell the Property to the City of Birmingham. The Sale Motion is granted in its entirety and the sale of the Property to Purchaser is approved. Any objections, responses or reservations of rights filed or asserted relating to the Sale Motion or sale, to the extent not resolved as set forth herein, settled or waived, are overruled. The Agreement, including all its terms and conditions, all ancillary documents and all Transactions contemplated therein, are approved and authorized in all respects. The Debtor and the Purchaser are authorized and directed to take any and all actions necessary and appropriate to perform under the Agreement and consummate the sale and transfer of the Property and the other Transactions, subject to the terms of this Order and the Agreement. The Purchaser is a good faith purchaser under section 363(m) of the Bankruptcy Code and, as such, the Purchaser is entitled to all the protections. Approval of the Agreement and the transactions contemplated by the Agreement including but not limited to the transfer of the Property and the Funding Contribution and consummation of the sale is in the best interests of the Debtor and its estate. About The Community House Association, Birmingham The Community House Association, Birmingham has operated a non-profit organization serving the interests of the Birmingham and Southeast Michigan community. The Community House Association, Birmingham, Michigan filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. E.D. Mich. Case No. 26-43351) on March 26, 2026, with $1 million to $10 million in both assets and liabilities. Judge Thomas J. Tucker presides over the case. Jason W. Bank, Esq., at Kerr, Russell and Weber, PLC represents the Debtor as counsel. CORE & MAIN: S&P Affirms 'BB' ICR on Refinancing, Outlook Stable ---------------------------------------------------------------- S&P Global Ratings assigned its 'BB' issue-level rating and '3' recovery rating to Core & Main L.P.'s new term loan B and revised its recovery rating on the existing $930 million term loan due in 2031 to '3' from '4', reflecting its expectation for meaningful (50%-70%; rounded estimate: 65%) recovery for lenders in a default. S&P said, "We also affirmed our 'BB' issuer credit rating on Core & Main because the transaction is net leverage neutral. "The stable outlook reflects our expectation of leverage in the mid-2x area over the next 12 months, supported by contributions from acquisitions, growth in municipal end markets, and good cash flow. "We assigned our 'BB' issue-level rating and '3' recovery rating to the new term loan B. Core & Main intends to use the proceeds from the $800 million issuance, along with an expected $750 million of unsecured debt, to refinance its $1.23 billion term loan. At the same time, we revised our recovery rating on the existing $950 million ($930 million outstanding) term loan due in 2031 to '3' from '4', indicating our expectation for meaningful (50%-70%; rounded estimate: 65%) recovery. The revision reflects the decrease in Core & Main's secured debt and our belief the expected unsecured debt will provide cushion and improve recovery prospects for secured lenders in our hypothetical default scenario. "The issuer credit rating affirmation reflects leverage consistent with our expectations. The transaction will add a modest amount of debt, though we view it as net leverage neutral because Core & Main plans to add the excess cash to its balance sheet. We expect it will eventually use this cash to fund growth initiatives, but we expect leverage will remain about mid-2x, well below our 4x downside threshold for the rating." Recent performance reflects resilient execution against a mixed demand backdrop. In fiscal 2025, Core & Main increased top-line revenue by 3% on stable adjusted EBITDA despite flat demand in its end markets, with continued strength in municipal demand offsetting weak residential and muted nonresidential construction. These trends continued into the first quarter of 2026, with flat year-over-year sales and modest EBITDA increases from disciplined pricing, share gains, and an expansion of 50 basis points (bps) in gross margin. Growth continues to be underpinned by durable municipal infrastructure demand and above-market demand for higher-value products such as its smart metering and treatment plant offerings, partially offset by continued softness in residential construction and mixed nonresidential trends. S&P said, "We forecast leverage of about 2.5x in 2026 and 2.3x in 2027. Free operating cash flow (FOCF) to debt is also solid at 24%-26% through 2027. We forecast Core & Main will modestly increase revenue 3%-4%, given our expectation of faster growth than its end markets (which we believe will be roughly flat in aggregate), bolstered by greenfield and acquisition geographic expansion. We assume EBITDA margin will be flat to up modestly in 2026 as cost inflation partially offsets previously enacted cost savings, higher private label penetration, and disciplined cost control. "The stable outlook on Core & Main reflects our expectation of leverage in the mid-2x area over the next 12 months, supported by contributions from acquisitions, growth in municipal end markets, and good cash flow." S&P could lower its rating on Core & Main over the next 12 months if we believe it will sustain leverage above 4x. This could occur if: -- End market demand declines sharply; or -- The company pursues large debt-financed acquisitions or shareholder rewards that surpass our assumptions, with limited prospects for deleveraging. S&P's could raise its rating if the company: -- Expands scale and diversity more in line with that of higher rated peers; and -- Commits to maintaining leverage comfortably below 3x under most market conditions. CROSBY MARINE: Court Narrows Claims in Meged Funding, et al. Case ----------------------------------------------------------------- Judge Meredith S. Grabill of the U.S. Bankruptcy Court for the Eastern District of Louisiana grants, in part, and denies, in part the motion for partial summary judgment filed by Crosby Marine Transportation, LLC ("Crosby Marine"), Crosby Tugs, L.L.C. ("Crosby Tugs"), Crosby Dredging, LLC ("Crosby Dredging"), and Bertucci Contracting Company, L.L.C. as debtors and debtors-in-possession (together, the "Debtors") in the adversary proceeding captioned as CROSBY TUGS, L.L.C., CROSBY DREDGING, LLC, CROSBY MARINE TRANSPORTATION, LLC, AND BERTUCCI CONTRACTING COMPANY, L.L.C., PLAINTIFFS, V. MEGED FUNDING GROUP A/K/A MEGED FUNDING GROUP CORP, ALLIANCE ENERGY SERVICES, LLC, ARENA OFFSHORE, CANTRELLE SERVICES LLC, CANTIUM LLC, CAJUN INDUSTRIES LLC, CHAMPAGNE ENERGY & ENVIRONMENTAL SOLUTIONS, CHEVRON PRODUCTION CO., CURTIN MARITIME, ECOSERV, LLC, ECOSERV ENVIRONMENTAL SERVICES, LLC, GAC NORTH AMERICA, INGRAM MARINE GROUP, JOHN W STONE OIL DISTRIBUTOR LLC, KENOSIS OPERATING COMPANY, KEVIN GROS CONSULTING, LOOP LLC, LUHR CROSBY LLC, MODERN AMERICAN RECYCLING, MARSHLAND EQUIPMENT RENTALS, MCDONOUGH MARINE SERVICE, MORRISON OFFSHORE LLC, PATRIOT MARINE SERVICES, PORT OF IBERIA DISTRICT BOARD OF COMMISSIONERS, ROSE CAY MARITIME LLC, SABINE NECHES NAVIGATION DISTRICT, SPACE EXPLORATION TECHNOLOGIES, TALA ENVIRONMENTAL LLC, THOM-SEA BOAT BUILDERS, TK TOWING INC., TPC GROUP LLC, TRITON DIVING SERVICES LLC, T&T MARINE SALVAGE INC., VENTURE GLOBAL CALCASIEU PASS LLC, WALTER OIL & GAS, WHITE FLEET DRILLING, HEEREMA MARINE CONTRACTORS NEDERLAND, S.E., AQUA CAPITAL LLC., BREEZE FUNDING, CELTIC ADVANCE, EN OD CAPITAL, ALO ADVANCE, CEDAR ADVANCE LLC, CLEARFUND SOLUTIONS, LLC, COLDWATER CAPITAL, LLC, COOPER INVESTMENTS, LLC, DEPENDENCE PLATINUM, FOREVER FUNDING LLC, FREEDOM FUNDING LLC, GALT FUNDING CO, INSIGHT CAPITAL LLC, LIBERTAS FUNDING, LLC, MOBY CAPITAL LLC D/B/A MOBYCAP, MYNT GOLD, LLC A/K/A MYNT ADVANCE, NOVAC EQUITIES LLC, ODK CAPITAL, LLC D/B/A ON DECK, ORACAP LLC, OVERTIME CAPITAL, PARKVIEW ADVANCE LLC, PINNACLE BUSINESS FUNDING LLC, RELIANCE FINANCIAL FL, LLC, ROCKET CAPITAL NY, LLC. SQ ADVANCE, SURGE FUNDING LLC, TRUE BUSINESS FUNDING LLC, WEB BANK C/O LIBERTAS FUNDING LLC, & WYNWOOD CAPITAL GROUP, LLC, DEFENDANTS, ADV. NO. 26-1018 (Bankr. E.D. La.). MCA Defendant Dependance Platinum FL, LLC's ("Dependance") cross-motion for summary judgment is denied. The Debtors and their affiliates are in the marine transportation industry. The Debtors and their non-debtor affiliates have a fleet of more than 200 vessels and marine equipment, with Crosby Marine owning approximately 80% of the fleet. Crosby Tugs assists small freighters, container ships, aircraft carriers, very large crude carriers, and other vessels into and out of births; escorts oil tankers quickly and safely through shipping channels and environmentally sensitive waters; and tows ships, semisubmersible rigs, landing platforms, and other vessels. Crosby Dredging deploys a variety of equipment to complete dredging work and coastal-restoration projects for a variety of governmental and private businesses. By providing those services to their Customers, Crosby Tugs and Crosby Dredging generate substantial accounts receivable (the "Crosby Accounts Receivable"). As of the date of the Complaint, Crosby Tugs had total accounts receivable in the amount of $10,840,638.45, consisting of current accounts receivable in the amount of $5,755,785.29, and past-due accounts receivable in the amount of $5,084,853.16, 6 while Crosby Dredging had total accounts receivable in the amount of $7,874,046.37, consisting of current accounts receivable in the amount of $602,297.63, and past due accounts receivable in the amount of $7,271,748.74. On April 3, 2026, shortly after commencing these jointly administered cases, Crosby Marine Transportation, the Debtors commenced the adversary proceeding by filing a complaint against certain of their Customers as well as numerous MCA Defendants (the "Complaint"). Through the Complaint, the Debtors seek: (i) a declaration that Crosby Accounts Receivable are property of the estate under 11 U.S.C. Sec. 541 (Count 1); (ii) turnover of cash owed from Customers to Crosby Tugs and Crosby Dredging pursuant to accounts receivable under 11 U.S.C. Sec. 542 (Count 2); (iii) injunctive relief enjoining the MCA Defendants from seeking payment of the Debtors' accounts receivable directly from Customers (Count 3); (iv) a declaration recharacterizing the MCA Agreements as disguised loans (Count 4); and (v) a declaration that Interested Parties are adequately protected from any diminution of the Debtors' use of cash collateral stemming from the Debtors' post-petition receivables (Count 5). Several provisions in the Dependance MCA Agreement work together effectively to shield Dependance from all risk that the purchased receivables may be uncollectible, placing that risk squarely upon the Debtors. The fact that no specific receivables are identified in the Dependance MCA Agreement bears strongly on the question of risk because the Debtors' obligation to repay the purchase price is independent of the collectability of any particular receivable. Thus, the failure to collect on any particular account never affects the amount Dependance is entitled to recover under the Dependance MCA Agreement, so the direct risk of non-collectability remains with the Debtors. The Dependance MCA Agreement also gives Dependance direct access, control, and authority to sweep funds from the Debtors' bank account. Dependance can choose from a host of aggressive remedial provisions, including acceleration of the debt. The provisions of the Dependance MCA Agreement make it obvious that Dependance bore zero risk of a revenue shortfall in the Debtors' receivables; rather, the provisions are structured to ensure the Debtor's absolute payment obligation. The Court finds the features of the Dependance MCA Agreement weigh in favor of finding the transaction to be a disguised loan. Before the Court are Debtors' Motion for Partial Summary Judgment Against MCA Defendants (the "MPSJ"), and a cross-motion for summary judgment (the "CrossMSJ"), filed by MCA Defendant Dependance. The Debtors seek summary judgment against Dependance on Counts 1–4 of their Complaint, and Dependance seeks summary judgment against the Debtors that would dismiss the entire Complaint. Both motions are opposed. In short: The Debtors assert that the text of the MCA Agreement executed between Crosby entities and Dependance is unambiguous and reveals that the agreement is a disguised loan as a matter of law. Dependance agrees that the text of the MCA Agreement is unambiguous but asserts that the agreement is a true sale of the Debtors' receivables as a matter of law. At first glance, the Dependance MCA Agreement appears to contain an indefinite term because it requires the Debtors to continue to pay regular, installment amounts until they have fully paid the sum of "receivables" purportedly purchased. A contract with an indefinite term is suggestive of a true sale. "A fixed term is typical of a loan, while an indefinite term of receiving a fixed percentage of actual receipts may suggest that the lender has assumed the risk associated with the receivables not being collected." But the Dependance MCA Agreement has a de facto fixed term that can be calculated by dividing the amount that the Debtors owe by the amount of daily payments. Afailure to fund Dependance's sweeps of the Debtors' account will not serve to indefinitely extend the term -- it will only result in the Debtor being in breach of the agreement and accelerate the term. And as also made clear above, Dependance assumes no risk for uncollected receivables. Thus, this factor weighs in favor of the Court finding the Dependance MCA Agreement to be a disguised loan. Regardless of the outcome -- as determined by Dependance -- the amounts owed by the Debtors under the Dependance MCA Agreement are never reduced due to unforeseen adverse business developments outside the Debtors' control. Reconciliation may delay repayment (or accelerate it if Dependance finds that the Debtors' records are incorrect) but the reconciliation process does nothing to shift the risk of uncollectible receivables from the Debtors. For that reason, the Court finds that this particular reconciliation provision weighs in favor of a finding that the Dependance MCA Agreement is not a true sale, but rather a disguised loan. The Court thus concludes that the unambiguous terms of the Dependance MCA Agreement substantively reveal the Debtors' complete exposure to the direct risk of non-payment of Crosby Accounts Receivables, making the agreement a disguised loan under Florida law. Accordingly, the Debtors' MPSJ is granted in part as to Counts I, III, and IV of the Complaint as against Dependance, and denied in part as to Count II of the Complaint as against Dependance. A copy of the Court's Memorandum Opinion and Order dated June 17, 2026, is available at https://urlcurt.com/u?l=DXxkw0 from PacerMonitor.com. About Crosby Marine Transportation Crosby Marine Transportation, LLC, through its affiliates, provides marine transportation, dredging and marine construction services along the Gulf Coast, operating a fleet of about 200 vessels and marine equipment, including tugs, barges and dredging assets, from Golden Meadow and Houma, Louisiana. Founded in 1977 by Vinton and Kurt Crosby, the company serves commercial, government and energy customers, employs about 850 full-time workers and holds a 49.9% interest in Luhr Crosby, which provides rock and marine construction services. Crosby Marine Transportation sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. La. Case No. 26-10678) on Mar. 23, 2026. In the petitions signed by Lawrence Perkins, chief restructuring officer, Crosby Marine disclosed up to $500 million in both assets and liabilities. Judge Meredith S. Grabill oversees the case. The Debtors tapped Lugenbuhl, Wheaton, Peck, Rankin & Hubbard as counsel; Aymond James & Associates, Inc. as investment banker; and Stretto, Inc. as claims, noticing, and solicitation agent. D 5030 WESTMINSTER: Seeks Chapter 11 Bankruptcy in Texas -------------------------------------------------------- On June 22, 2026, D 5030 Westminster, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of Texas. According to court filings, the debtor reports between $10 million and $50 million in debt owed to between 50 and 99 creditors. About D 5030 Westminster, LLC D 5030 Westminster, LLC is a limited liability company. D 5030 Westminster, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-42143) on June 22, 2026. In its petition, the debtor reported estimated assets between $1 million and $10 million and estimated liabilities between $10 million and $50 million. Honorable Chief Bankruptcy Judge Brenda T. Rhoades is handling the case. The debtor is represented by Frances A. Smith, Esq. of Offit Kurman. DCA OUTDOOR: Buckner Property Sale to Zach & Kathryn Wharton OK'd ----------------------------------------------------------------- The U.S. Bankruptcy Court for the Western District of Missouri, has granted DCA Outdoor and its affiliates, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor's Property that is up for sale is located at 28200 East Rogers Road, Buckner, MO 64016. The Debtors consist of 20 different entities that together form a so-called "vertically integrated" nursery operation. The Debtors are generally classified into one of five categories based upon such Debtor’s primary function. These five categories include the following: a. Management - DCA Outdoor, Inc. (the lead Debtor); b. Land: i. Colonial Gardens Development, LLC; ii. DCA Land Holding Company, LLC; iii. DCA Land Illinois, LLC; iv. DCA Land Indiana, LLC; v. DCA Land Kansas, LLC; vi. DCA Land Kentucky, LLC vii. DCA Land Missouri, LLC; and viii. DCA Land Oregon, LLC c. Production: i. Anna Evergreen, LLC; ii. Schwope Brothers Tree Farms, LLC; iii. Schwope Brothers West Coast, LLC; iv. Utopian Plants Indiana, LLC; and v. Utopian Trees, Inc.; d. Distribution: i. Brehob Nurseries, LLC; ii. KAT Nurseries, LLC; iii. PlantRight Supply, LLC; and iv. Utopian Transport, LLC; and e. Retail: i. Colonial Farms, LLC; and ii. Colonial Gardens, LLC. On September 11, 2025, the Court entered the Stipulated Order Granting, Authorizing, and Approving the Retention and Employment of Brent King as Chief Restructuring Officer. The Debtor wishes to sell the Property to Zachary and Kathryn Wharton for the purchase price of $306,000.00. The Court has authorized the Debtor to sell the Property to Zachary and Kathryn Wharton. The purchasers are good faith purchasers of the real property and are entitled to the protections. The Debtor may remit $6,000.00 as a cost of the sale to the buyer's broker (Audrey Mars at EXP Realty) pursuant to the terms of the Land Real Estate Sale Contract. The sale of the real property shall be free and clear of any and all mortgages, liens, pledges, hypothecations, security interests, charges, encumbrances, claims, and interests. Any liens, encumbrances, and other interests shall attach to the proceeds of the sale. About DCA Outdoor, Inc. DCA Outdoor Inc. established in 2016, is a vertically integrated green industry organization headquartered in Kansas City, Missouri. The Company connects various sectors -- including agricultural production, landscape distribution, retail, agritourism, and transportation -- through its family of brands. The DCA Outdoor family comprises several brands including Schwope Brothers Tree Farms, Utopian Plants, RIO, Anna Evergreen, Brehob Nurseries, KAT Landscape, Colonial Gardens, PlantRight, PlantRight Supply, and Utopian Transport. DCA Outdoor Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Miss. Case No. 25-50053) on Feb. 20, 2025. In its petition, the Debtor estimated assets up to $50,000 and estimated liabilities between $50 million and $100 million. Bankruptcy Judge Cynthia A. Norton handles the case. The Debtor tapped Larry E. Parres, at Lewis Rice LLC as counsel, and Creative Planning, LLC and its affiliate BerganKDV as audit and tax professionals. DEALER TIRE: S&P Rates New First-Lien Senior Secured Revolver 'B-' ------------------------------------------------------------------ S&P Global Ratings assigned its 'B-' issue-level rating and '3' recovery rating to Dealer Tire Financial LLC's proposed $250 million first-lien senior secured revolver due 2031. The '3' recovery rating indicates its expectation for meaningful (50%-70%; rounded estimate: 55%) recovery in the event of a default. At the same time, S&P assigned its 'CCC' issue-level rating and '6' recovery rating to Dealer Tire's proposed $500 million senior unsecured notes due 2031. The '6' recovery rating indicates S&P's expectation for negligible (0%-10%; rounded estimate: 0%) recovery. Proceeds from the new unsecured note issuance are expected to be used to repay the existing notes due 2028. The refinancing would address the company's upcoming debt maturities, specifically the February 2028 notes, and alleviate near-term maturity and liquidity risks by pushing out the maturity of the entire capital structure to 2031. Therefore, if Dealer Tire completes the proposed transaction as outlined, S&P would expect to revise its outlook on the company to stable from negative given the maturity extension, improved liquidity position, and steady performance. Dealer Tire's core tire business performance has remained steady, though EBITDA has been pressured by weak Dent Wizard profitability. S&P said, "In our updated base case, we now expect leverage to increase to over 7x due to slower margin recovery at Dent Wizard and higher transaction costs associated with the refinancing. However, we expect leverage to return below 7x in 2027 as margins slightly improve. We also forecast the company will generate modest but consistent free cash flow funding working capital, capex, debt service, and tax distributions to members. We consider the expected incremental cost from the higher-coupon notes to be marginal and don't expect it to meaningfully affect cash flows." Pro forma for the transaction, Dealer Tire's total liquidity is expected to be $221 million. This consists of $79 million in balance-sheet cash and $142 million in net revolver availability (representing $70 million in borrowings and $37.5 million in letters of credit) compared to sources of more than $270 million at year-end 2025. Revolver borrowings seasonally increased to $70 million at the end of first-quarter 2026 from $0 at year-end as the company replenished inventory and paid suppliers. Issue Ratings--Recovery Analysis Key analytical factors -- Pro forma for the proposed issuance, Dealer Tire's capital structure will comprise its new $250 million senior secured first-lien revolver due 2031, $1.4 billion senior secured first-lien term loans due July 2031, and new $500 million senior unsecured notes due 2031. -- S&P's simulation assumes a payment default occurring in 2028 due to a sustained economic downturn that reduces customer demand for replacement tires, the loss of one or more major suppliers or customers, or because a targeted acquisition fails to reduce its leverage such that its free cash flow declines. -- S&P valued the company on a going-concern basis using a 5.5x multiple of our emergence EBITDA. Simulated default assumptions -- Year of default: 2028 -- Jurisdiction: U.S. -- A 100% draw under the revolving credit facility at default (the company drew down fully on the revolver in 2020) -- All debt amounts include six months of accrued interest -- Administrative claims of 5% of enterprise value (EV) Simplified waterfall -- Gross EV: $1.09 billion -- EV multiple: 5.5x -- Net EV: $1.03 billion -- Obligor/nonobligor valuation split: 99%/1% -- Priority claims: $0 million -- Total collateral value for secured debt: $1.03 billion -- Total first-lien debt (including revolver): $1.73 billion -- Recovery expectations: 50%-70% (rounded estimate: 55%) -- Total unsecured claims (including deficiency claims): $1.24 billion -- Recovery expectations: 0%-10% (rounded estimate: 0%) DEDICATION & EVERLASTING: Seeks Cash Collateral Access Thru Oct 31 ------------------------------------------------------------------ Dedication & Everlasting Love To Animals (doing business as D.E.L.T.A. Rescue) asks the U.S. Bankruptcy Court for the Central District of California for authority to use cash collateral and provide adequate protection, through October 31, 2026. The Debtor needs to use cash collateral to fund the rescue facility's post-petition operating budget. Todd Freely, the Debtor's Chapter 11 Trustee, seeks permission to fulfill critical operating expenses—such as payroll, insurance, utilities, veterinary costs, and animal feed—and requests the flexibility to deviate from the budget by up to 15% on an aggregate basis. To protect any creditors with an interest in this cash, the Trustee proposes granting adequate protection in the form of replacement liens on the Debtor’s assets to the extent that using the cash diminishes the collateral's value. The Chapter 11 filing was precipitated by aggressive collection efforts from a former employee, Adriana Duarte Valentines, who secured an amended state-court judgment against the organization for $2.9 million, along with a pending motion for over $4 million in attorney's fees. Valentines is identified as the only creditor asserting an interest in the estate's cash. However, the Trustee notes that she is fully protected by a massive "equity cushion" and a court-approved settlement agreement reached on June 2. As of mid-2026, the estate holds approximately $1.4 million in liquid cash alongside an unencumbered portfolio of real estate and Merrill Lynch investment accounts valued at $14.7 million. The Trustee emphasizes that a separate motion to liquidate up to $2 million of these securities is pending to help sustain operations. The Trustee asserts that continued access to cash collateral is absolutely vital to avoid immediate, irreparable harm to the estate and ensure the welfare of the animals. Without these funds, the sanctuary risks an operational shutdown, loss of staff, and an inability to care for its animals or collect further public donations. A hearing on the matter is set for June 30, at 1:00 p.m. A copy of the motion is available at https://urlcurt.com/u?l=yDXSS5 from PacerMonitor.com. About Dedication & Everlasting Love To Animals Dedication & Everlasting Love To Animals (D.E.L.T.A. Rescue) operates a no-kill, care-for-life animal sanctuary in Acton, Calif. Founded in 1979, the organization rescues abandoned dogs and cats, providing lifelong shelter and medical care across a 115-acre facility. It is privately funded and not open to the public. Dedication & Everlasting Love To Animals sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Calif. Case No. 25-13881) on May 9, 2025. In its petition, the Debtor reported estimated assets between $10 million and $50 million and estimated liabilities between $1 million and $10 million. Judge Neil W. Bason handles the case. The Debtor is represented by William R. Hess, Esq., at the Law Offices of William R. Hess. Todd A. Frealy is the Chapter 11 trustee appointed in the Debtor's case. DELTA STEEL: Scott Sackett Named Subchapter V Trustee ----------------------------------------------------- The U.S. Trustee for Region 17 appointed Scott Sackett as Subchapter V trustee for Delta Steel Construction, Inc. Mr. Sacket 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. Seidel declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Scott M. Sackett 4030 S. Land Park Dr., Suite C Sacramento, CA 95822 Phone: (916) 930-9900 Email: scott.sackett@efmt.com About Delta Steel Construction Inc. Delta Steel Construction, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Cal. Case No. 26-23367) on June 11, 2026, with $100,001 to $500,000 in assets and liabilities. Judge Christopher D. Jaime presides over the case. David C. Johnston, Esq. represents the Debtor as legal counsel. DESIGN MOVES: Carol Fox of GlassRatner Named Subchapter V Trustee ----------------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Carol Fox of GlassRatner as Subchapter V trustee for Design Moves, LLC. Ms. Fox will be paid an hourly fee of $450 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Fox declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Carol Fox GlassRatner 200 East Broward Blvd., Suite 1010 Fort Lauderdale, FL 33301 Tel: 954.859.5075 About Design Moves LLC Design Moves LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-17625) on June 10, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Scott M. Grossman presides over the case. Winston I. Cuenant, Esq. at Cuenant & Pennington PA represents the Debtor as legal counsel. DIAMOND ELITE: Seeks to Hire Mitchell J. Canter as Legal Counsel ---------------------------------------------------------------- Diamond Elite Albuquerque, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to employ Mitchell Canter, Esq., an attorney practicing in Nanuet, New York, to handle its Chapter 11 case. The attorney will be paid at his hourly rate of $500. He received a retainer of $20,000 from the Debtor's sole member. Mr. Canter 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: Mitchell J. Canter, Esq. 511 Airport Executive Park Nanuet, NY 10954 Telephone: (845) 371-7500 About Diamond Elite Albuquerque LLC Diamond Elite Albuquerque LLC is a privately held company believed to be involved in hospitality, lodging or real estate investment operations in Albuquerque, New Mexico. Diamond Elite Albuquerque LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 26-35494) on May 6, 2026. In its petition, the Debtor reported estimated assets between $10 million and $50 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Kyu Young Paek oversees the case. The Debtor is represented by Mitchell J. Canter, Esq. DIOCESE OF EL PASO: Committee Hires Berkeley as Financial Advisor ----------------------------------------------------------------- The official committee of unsecured creditors appointed in the Chapter 11 case of Catholic Diocese of El Paso seeks approval from the U.S. Bankruptcy Court for the Western District of Texas to employ Berkeley Research Group, LLC as financial advisor. The firm's services include: (a) assist the committee in investigating the assets, liabilities, and financial condition of the Debtor or its operations; (b) assist the committee in the review of financial related disclosures required by the Court and/or Bankruptcy Code; (c) analyze the Debtor's accounting reports and financial statements; (d) review transfers of the Debtor's assets; (e) assist the committee in evaluating the Debtor's ownership interests of property alleged to be held in trust by the Debtor for the benefit of third parties and/or property alleged to be owned by non-debtor entities; (f) assist the committee in reviewing and evaluating any proposed asset sales and/or other asset dispositions; (g) assist the committee in evaluating the Debtor's cash management system; (h) assist the committee in the review of financial information that the Debtor may distribute to the committee and others, and analyze proposed transactions for which Court approval is sought; (i) assist in the review and/or preparation of information and analyses necessary for the confirmation of a plan, or for the objection to any plan filed in this case which the committee opposes; (j) assist the committee with the evaluation and analysis of claims, and on any litigation matters; (k) analyze the flow of funds in and out of accounts the Debtor contends contain assets held in trust for others, to determine whether the funds were commingled with non-trust funds and lost their character as trust funds, under applicable legal and accounting principles; and (l) provide other services as may be requested from time to time by the committee and its counsel, consistent with the role of a financial advisor. The firm will be paid at these hourly rates: Paul Shields, Managing Director $940 Ray Strong, Managing Director $895 Matthew Babcock, Managing Director $835 Professional Staff $175 - $750 In addition, the firm will seek reimbursement for expenses incurred. Mr. Babcock 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: Matthew K. Babcock Berkeley Research Group, LLC 201 South Main Street Suite 450 Salt Lake City, UT 84111 About Roman Catholic Diocese of El Paso 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. Judge Christopher G. Bradley oversees the case. Husch Blackwell LLP serves as the Debtor's counsel. DIOCESE OF EL PASO: Committee Taps Stout Risius as Valuation Expert ------------------------------------------------------------------- The official committee of unsecured creditors appointed in the Chapter 11 case of Catholic Diocese of El Paso seeks approval from the U.S. Bankruptcy Court for the Western District of Texas to employ Stout Risius Ross, LLC as valuation expert and real estate appraisal expert. The firm will provide these services: (a) provide expert consulting services and expert testimony regarding the appropriate value of claims against the Debtor and appropriate value of its real estate assets; (b) provide expert consulting services and expert testimony in connection with any contested matters or litigation arising in this case; (c) provide in connection with any contested matters or litigation arising in this case; (d) provide expert consulting services and expert testimony in the review and evaluation of reports it prepared; (e) perform a valuation of or otherwise analyze the claims submitted against the Debtor; (f) prepare and draft a report summarizing the value of claims in the case; (g) perform a valuation of or otherwise analyze value of real property; (h) prepare and draft an appraisal report that considers the value of the Debtor's assets; (i) prepare other reports and materials as may be useful or necessary to assist the committee in court proceedings or in the mediation process; (j) assist with the preparation of case filings concerning the issues for which Stout is providing expert consulting services and expert testimony; (k) participate in meetings or discussions with the Debtor, its professionals, its insurers, or other parties-in-interest; (l) conduct one or more inspections of real property; (m) perform all necessary due diligence, background investigation and preparation that is customarily associated with the valuation of real property to determine the market value and liquidation value of the properties; (n) consult with the committee and its counsel concerning valuation matters generally; (o) testify, if necessary, before the Court concerning the valuation of the real property and/or claims; and (p) such other expert consulting and advisory services as may be requested by the committee. The firm's professionals will be paid at these hourly rates: Managing Director $625 - $900 Director $345 - $600 Senior VP/Senior Manager $300 - $525 Vice President/Manager $275 - $440 Analysts/Associates $180 - $360 In addition, the firm will seek reimbursement for expenses incurred. Katie McNally, a managing director at Stout Risius Ross, 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: Katie McNally Stout Risius Ross, LLC 225 West Randolph Street, Suite 800 Chicago, IL 60606 Telephone: (312) 857-9000 About Roman Catholic Diocese of El Paso 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. Judge Christopher G. Bradley oversees the case. Husch Blackwell LLP serves as the Debtor's counsel. DORADO PUTT: Promethean Fund Wins Dismissal of Bankruptcy Case -------------------------------------------------------------- Judge Enrique S. Lamoutte of the U.S. Bankruptcy Court for the District of Puerto Rico granted the motion filed by Promethean Fund IV, LP to dismiss Dorado Putt PR LLC's Chapter 11 bankruptcy case. Puttshack Ltd. and Puttshack USA own a luxury miniature golf company with operations in the United Kingdom and the United States. Puttshack borrowed funds pursuant to a certain credit facility dated October 6, 2022 extended by entities affiliated with BlackRock Financial Management Inc. The Credit Agreement provides BlackRock with certain default remedies if Puttshack's debt obligations are not met, including, but not limited to, foreclosing upon Puttshack and its assets, and taking all equity ownership in the company. Promethean was formed for the purpose of making investments in the consumer, leisure, entertainment and hospitality sectors in the United States and United Kingdom. Promethean's primary purpose is to act as guarantor or backstop to Puttshack's debt obligations. To that end, Promethean entered into a credit support agreement dated October 4, 2022, whereby it is required to secure capital in the event Puttshack defaults under the terms of the senior loan facility. The Credit Support Agreement provides BlackRock with certain default remedies if Puttshack's repayment obligations are not met. The Debtor was created for the business purpose of making investments on behalf of Frank "Buddy" Gadams and Katherine Gadams. The Debtor's first investment was in Promethean. In addition to its investment in Promethean, the Debtor manages and owns various assets. To formalize the Debtor's investment in Promethean, the Debtor entered into an Amended and Restated Limited Partnership Agreement of Promethean Fund IV, LP dated October 4, 2022, with other limited partners. The Debtor's Capital Commitment under the Limited Partnership Agreement is $40,000,000. The Debtor is the largest single LP in Promethean. The Gadamses are the Debtor's "Beneficial Owners". The Debtor and the Gadamses as Beneficial Owners executed a look-through letter dated October 4, 2022, to personally guarantee the Debtor's debt obligations under the Limited Partnership Agreement. Prior to commencing this chapter 11 case, the Gadamses transferred their ownership interest in the Debtor into two trusts -- the Frank T. Gadams Puerto Rico Revocable Trust and the Katherine W. Gadams Puerto Rico Revocable Trust -- which hold 99.0% and 1.0% of the Debtor, respectively. Default In 2024, BlackRock declared Puttshack in default under the Credit Agreement but did not demand repayment. On May 27, 2025, Mr. Gadams executed a promissory note in the amount of $39,600,000, plus interest, for the benefit of the Debtor. The alleged purpose of the Promissory Note is to ensure the Debtor had enough capital, over time, to meet Promethean's capital commitment call. Although Mr. Gadams believed or understood that the Limited Partnership Agreement required the Debtor to satisfy Promethean's capital commitment call within 30 days, he nevertheless structured the Promissory Note to defer payment for seven years. In May 2025, BlackRock declared Puttshack in default under the Credit Agreement and demanded payment of 55% of the backstop by September 15, 2025. On June 2, 2025, following Puttshack's default, Promethean issued a Drawdown Notice to the LPs, including the Debtor, due on or before September 12, 2025. The Drawdown Notice issued to the Debtor is in the amount of $22,156,652.00 -- which was 55% of the Debtor's capital commitment. The Debtor did not meet its funding obligation under the Drawdown Notice by September 12, 2025. Thereafter, Promethean initiated an arbitration proceeding against the Debtor under the terms of the LPA. On October 28, 2025, the Debtor wired $221,567.00 to Promethean, representing a portion of its capital commitment. To date, the Debtor has not fully complied with its funding obligations under the Drawdown Notice. The Debtor and Promethean engaged in settlement negotiations but were unable to negotiate an agreement prior to the Debtor filing for bankruptcy. Mr. Gadams experienced a change in circumstances from 2022 -- when the Loan Documents were executed -- to present day. Although Mr. Gadams knew a capital call was forthcoming, he was nevertheless surprised by the magnitude of Promethean's capital commitment call. As a result of his change in circumstances, Mr. Gadams does not have the liquidity to meet Promethean's capital commitment call or to comply with the Drawdown Notice. Mr. Gadams has sufficient illiquid assets at his disposal to meet the Debtor's debt obligations, the Drawdown Notice. Mr. Gadams' illiquid assets consist of private equity, venture capital, and real estate interests held through, or distributed among, various entities, some of which include third party investors. Although Mr. Gadams testified that he has only $90,000.00 in liquid assets, the record is devoid of documentary evidence regarding the Gadamses' capacity to pay Dorado Putt's debt obligations. The Bankruptcy Case In Amended Schedule A/B, the Debtor identified the Promissory Note issued by Frank Gadams in the amount of $39,600,000.00. In Amended Schedule E/F, the Debtor identified Promethean as having an unsecured claim in the amount of $22,127,085.00, which corresponds to the "Capital Call from Partnership Agreement" and constitutes 98.73% of the total unsecured claims identified. In Amended Schedule G, the Debtor identified the Limited Partnership Agreement as an executory contract to be rejected. On October 30, 2025, following the Debtor's bankruptcy filing, Promethean increased the non-defaulting LPs' capital call obligations from 55% to 80%, to cover the Debtor's share of the capital call (the "Replacement Call Notice"). On November 6, 2025, the Debtor filed a Motion to Reject Limited Partnership Agreement to reject the Limited Partnership Agreement. Promethean filed an objection thereto on November 17, 2025. The Debtor seeks to reject the Limited Partnership Agreement because of Mr. Gadams' change in circumstances. On December 2, 2025, the Debtor filed a Plan of Reorganization, which contemplates the successful rejection of the Limited Partnership Agreement, as follows: "Promethean as a holder of a rejection damages claim estimated in the amount of $250,000 (comprised basically of legal fees) will receive 100% of its allowed claim, together with interest at 5.5% per annum, or at such other rate as is determined to be a market rate by the Bankruptcy Court, funded from capital contributions to be made by Debtor's majority Member, as detailed in Exhibit E, on the Effective Date." The proposed Plan of Reorganization will be funded by capital contributions made by the Gadamses. It contemplates payment of all creditors in full, except Promethean's claim. It does not contemplate the Debtor demanding payment from the Gadamses. Motion to Dismiss Promethean seeks dismissal for "cause" under 11 U.S.C. Sec. 1112(b)(4) based on the Debtor's alleged bad faith filing. Prometehan argues that the bankruptcy was filed to protect the Debtor's principal, Mr. Gadams, who is financially distressed (in the form of lack of immediate liquidity), not for a proper bankruptcy purpose. Promethean argues that the Motion to Reject, the proposed plan, and the disclosure statement likewise support a finding of bad faith as they evince that the purpose of this bankruptcy case is to protect the Debtor's principals, the Gadamses, not to reorganize. Promethean further argues that dismissal is in the best interest of creditors and the estate because irreparable harm would befall Promethean and, by extension, the Debtor and the estate. Assuming arguendo that "cause" to dismiss exists under 11 U.S.C. Sec. 1112(b), the Debtor submits that dismissal is neither mandatory nor appropriate because the following "unusual circumstances" within the meaning of Sec. 1112(b)(2) are present: (1) there is a reasonable likelihood that a plan will be confirmed within a reasonable period of time; (2) there is no continuing loss or diminution of the estate (and none has been alleged); and (3) there is no act or omission that is improper, or violative of the Bankruptcy Code. The Debtor contends that this bankruptcy case was filed to reorganize its debt obligations through the rejection of the Limited Partnership Agreement, characterizing its condition as one of "imminent financial distress". The record supports otherwise. According to the court, the Debtor's asserted financial distress is not the product of creditor pressure or an inability to meet obligations as they come due. Rather, it arises from the Debtor's dispute with Promethean and its decision not to pursue repayment rights that could benefit the estate. Moreover, the funding of all payments under the proposed plan seems to be from one source -- the Gadamses -- and not from any revenue generated by the Debtor. The court finds the Debtor has the ability to meet its current expenses and is not in imminent or immediate financial distress. The Debtor's schedules reflect that its assets exceed its liabilities. The Debtor's alleged inability to meet its current expenses therefore results not from a lack of available assets, but from its decision not to pursue those rights. The court concludes that Promethean has established prima facie that the Debtor filed this bankruptcy petition in bad faith, which constitutes "cause" for dismissal under 11 U.S.C. Sec. 1112(b)(1). The court further concludes that the Debtor's lack of financial distress constitutes an abuse of the bankruptcy process which may not be cured or justified under 11 U.S.C. Sec. 1112(b)(2)'s exceptions to dismissal. Dismissal, and not conversion, is in the best interest of the estate. The court finds and concludes that the bankruptcy petition was filed to protect the Gadamses' assets rather than those of the Debtor, effectively reducing the case to a two-party dispute. For these reasons, the Motion to Dismiss is granted and the case is dismissed. A copy of the Court's Opinion and Order dated June 22, 2026, is available at http://urlcurt.com/u?l=re1aQTfrom PacerMonitor.com. About Dorado Putt PR LLC Dorado Putt PR LLC operates as an investment company engaged in financial and investment activities, based in San Juan, Puerto Rico, serving the local financial services industry. Dorado Putt PR LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.P.R. Case No. 25-04894) on October 29, 2025. In its petition, the Debtor reported total assets of $39,696,936 and total liabilities of $22,389,444. The Debtor is represented by Alexis Fuentes Hernandez, Esq., at Fuentes Law Offices, LLC. EDEN ROC: Voluntary Chapter 11 Case Summary ------------------------------------------- Debtor: Eden ROC Holdings LLC 9663 Santa Monica Blvd., #277 Beverly Hills CA 90210 Business Description: Eden ROC Holdings LLC's principal asset is a single-family home located at 1115 La Altura Road in Beverly Hills, California. Chapter 11 Petition Date: June 19, 2026 Court: United States Bankruptcy Court Central District of California Case No.: 26-16137 Judge: Hon. Neil W. Bason Debtor's Counsel: David B. Shemano, Esq. SHEMANOLAW 1801 Century Park East, Suite 2500 Los Angeles, CA 90067 Tel: (310) 492-5033 E-mail: dshemano@shemanolaw.com Estimated Assets: $10 million to $50 million Estimated Liabilities: $10 million to $50 million The petition was signed by Ross Kemper as manager. The Debtor said it does not have any non-insider general unsecured creditors. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/UD5YG2Q/Eden_ROC_Holdings_LLC__cacbke-26-16137__0001.0.pdf?mcid=tGE4TAMA ELCORP LLC: Case Summary & Four Unsecured Creditors --------------------------------------------------- Debtor: Elcorp, LLC 75 Sherman St. Portland, ME 04101 Business Description: Elcorp, LLC is a single-asset real estate entity that owns and leases one property. Chapter 11 Petition Date: June 17, 2026 Court: United States Bankruptcy Court District of Maine Case No.: 26-20172 Judge: Hon. Peter G Cary Debtor's Counsel: Sam Anderson, Esq. BERNSTEIN SHUR SAWYER & NELSON, P.A. 100 Middle Street P.O. Box 9729 Portland ME 04101 Tel: 207-774-1200 Email: sanderson@bernsteinshur.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $10 million to $50 million The petition was signed by Rudolph M. Ferrante as sole 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/NYIBVQI/ELCORP_LLC__mebke-26-20172__0001.0.pdf?mcid=tGE4TAMA EMMERICH NEWSPAPERS: Has Until June 26 to File Chapter 11 Plan -------------------------------------------------------------- Judge Jamie A. Wilson of the U.S. Bankruptcy Court for the Southern District of Mississippi granted the motion of Emmerich Newspapers Inc. for additional time within which to file its Subchapter V plan of reorganization. The Debtor must file its plan of reorganization on or before June 26. The Debtor is also granted a concomitant extension within which to obtain confirmation of any plan that may be filed. The Debtor is fighting off a motion filed by its pre-bankruptcy lender seeking dismissal of the Chapter 11 case. Story Financial Partners, owed about $3.2 million in secured debt, contends the Debtor, a holding company that owns stakes in several newspapers, has "nothing to reorganize." The Debtor's subsidiaries have not filed for bankruptcy. The Debtor contends it has legitimate business purposes and operations it needs to conduct and the Bank's properly perfected collateral position is not being adversely impacted. The Debtor is seeking a $1 million postpetition funding from Institute for Technology Development to continue operations. Story has objected to the funding. A hearing on the financing request has been postponed a few times with the latest hearing set for Aug. 11, 2026. A copy of the Court's Order dated June 22, 2026, is available at http://urlcurt.com/u?l=az40IVfrom PacerMonitor.com. About Emmerich Newspapers Inc. Emmerich Newspapers, Inc. is a newspaper publisher based in Jackson, Miss., that owns and operates local publications, including The Northside Sun, covering local news, features, and regional issues across the Metro Jackson area. Founded in 1967, the company distributes print editions alongside digital offerings, including e-editions, newsletters, and website content. Emmerich Newspapers Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Miss. Case No. 26-00793) on March 20, 2026. At the time of the filing, the Debtor reported between $1 million and $10 million in estimated assets and liabilities. Judge Jamie A. Wilson oversees the case. The Law Offices of Geno and Steiskal PLLC is the Debtor's legal counsel. Huffman & Company, CPA, PA serves as the Debtor's accountant. EVERGREEN BUILDING: Gets Final OK to Use Cash Collateral -------------------------------------------------------- Evergreen Building Company, LLC received final approval from the U.S. Bankruptcy Court for the District of Maine to use cash collateral. Under the final order, the Debtor is authorized to use cash collateral through Sept. 20 based on the court-approved final budget. As of the petition date, the Debtor owed Bangor Savings Bank $125,481.09, secured by accounts receivable, cash accounts, and other personal property. As adequate protection, Bangor Savings Bank retained its liens on post-petition cash collateral and received replacement liens on substantially all of the Debtor's assets, excluding avoidance actions. As additional protection, the Debtor is required to pay $910 monthly to Bangor Savings Bank beginning this month and continuing until the month after plan confirmation. If cash collateral use is needed beyond Sept. 20, the Debtor must file a revised cash plan by Sept. 8, 2026, and a hearing will be held on Sept. 15 if the parties cannot agree on continued use. Additional safeguards include regular reporting such as weekly cash collateral variance reports and, upon request, accounts receivable aging reports. Events of default include material breaches of the order, inaccurate financial reporting, dismissal or conversion of the Debtor's Chapter 11 case, or failure to file a bankruptcy plan within 90 days of the petition date. Upon an uncured default, the Debtor's authority to use cash collateral terminates. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/Liwqx from PacerMonitor.com. About Evergreen Building Company LLC Evergreen Building Company is a South Portland, Maine-based construction and millwork company. It provides new home construction, residential and commercial renovation, pre-construction services, design/build support, construction management, and custom cabinetry and woodwork. It serves developers, architects, owners, and clients through its office and millwork shop in South Portland. Evergreen Building Company sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Maine. Case No. 26-20145) on May 28, 2026, with $100,001 to $500,000 in assets and $1 million to $10 million in liabilities. Thomas A. Gagne, general manager of Evergreen Building Company, signed the petition. Judge Hon. Peter G. Cary oversees the case. The Debtor is represented by Tanya Sambatakos, Esq., at Molleur Law Office. F-STAR SOCORRO: Committee Hires Kutak Rock as Bankruptcy Counsel ---------------------------------------------------------------- The official committee of unsecured creditors appointed in the Chapter 11 cases of F-Star Socorro, LP and its affiliates seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Kutak Rock LLP as counsel. The firm will render these services: (a) consult with the Debtors and the Office of the United States Trustee regarding administration of the case; (b) advise the committee with respect to its rights, powers, and duties as they relate to the case; (c) investigate the acts, conduct, assets, liabilities, and financial condition of the Debtors; (d) assist the committee in analyzing the Debtors' prepetition and post-petition relationships with their creditors, equity interest holders, employees, and other parties in interest; (e) assist and negotiate on the committee's behalf in matters relating to the claims of the Debtors' other creditors; (f) assist the committee in preparing pleadings and applications as may be necessary to further the committee's interests and objectives; (g) research, analyze, investigate, file and prosecute litigation on behalf of the committee in connection with issues; (h) represent the committee at hearings and other proceedings; (i) review and analyze applications, orders, statements of operations, and schedules filed with the Court and advise the committee regarding all such materials; (j) aide and enhance the committee's participation in formulating a plan; (k) assist the committee in advising its constituents of the committee's decisions; and (l) perform such other legal services as may be required and are deemed to be in the interests of the committee. The firm's counsel and staff will be paid at these hourly rates: Partners $500 - $1,000 Associates $350 - $550 Paralegal $300 - $350 In addition, the firm will seek reimbursement for expenses incurred. Thomas Salerno, Esq., a partner at Kutak Rock, also provided the following in response to the request for additional information set forth in Section D of the Revised U.S. Trustee Guidelines: Question: Did the firm agree to any variations from, or alternatives to, the firm's standard billing arrangements for this engagement? Answer: No. Question: Do any of the firm professionals included in this engagement vary their rate based on the geographical location of the Debtors' Chapter 11 cases? Answer: No. Question: If the firm has represented the client in the 12 months prepetition, disclose the firm's billing rates and material financial terms for the prepetition engagement, including any adjustments during the 12 months prepetition. Answer: Kutak did not represent any member of the committee in the Debtors' Chapter 11 cases prior to its retention by the committee. Question: Has your client approved the firm's budget and staffing plan, and if so, for what budget period? Answer: Kutak expects to develop a prospective budget and staffing plan to reasonably comply with the U.S. Trustee's request for information and additional disclosures, to which Kutak reserves all rights. Mr. Salerno disclosed in a court filing that his firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Thomas J. Salerno, Esq. Kutak Rock LLP 8601 N. Scottsdale Road, Suite 300 Scottsdale, AZ 85253 About F-Star Socorro LP F-Star Socorro, L.P. and affiliates are commercial real estate companies that develop and invest in residential, hospitality, retail, office, and industrial properties. Their portfolio includes commercial and industrial properties in El Paso, Texas, and a 122-acre mixed-use development at the border of Paradise Valley and Scottsdale, Arizona, anchored by a newly constructed Ritz-Carlton resort and surrounding residential units. The Debtors sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 25-90607) on November 4, 2025. At the time of the filing, F-Star listing up to $50,000 in both assets and liabilities. Judge Alfredo R. Perez presides over the cases. The Debtors tapped Nicholas J. Hendrix, Esq., at O'Melveny & Myers, LLP as bankruptcy counsel; Lance Miller of Pivot Management Group, LLC as chief restructuring officer; and Stretto, Inc. as claims and noticing agent. The U.S. Trustee for Region 7 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 case. The committee is represented by Kutak Rock LLP. FAIR OFFER: Tennessee Properties Sale to Multiple Buyers OK'd ------------------------------------------------------------- The U.S. Bankruptcy Court for the Middle District of Tennessee, Nashville Division, has granted Robert J. Mendes, Chapter 11 Trustee of Fair Offer Cash Now Inc. to sell Property free, and clear of liens, claims, interests, and encumbrances. The Debtor is the owner of ten residential properties located across four states, as follows: a. Tennessee (7 properties) i. 7633 Christiana Fosterville Rd, Christiana, TN 37067 ii. 799 Evergreen St., Dresden, TN 38225 iii. 689 Welch Road, Dyersburg, TN 38024 iv. 150 Louden Hwy, Kingston, TN 37763 v. 509 Leath Street, Memphis, TN 38105 vi. 1185 Knowling Loop Rd., Talbott, TN 37877 vii. 815 S. Shepherd St., Winchester, TN 37398 b. Georgia (1 property) i. 255 Biltmore Rd, Mansfield, GA 30055 c. Florida (1 property) i. 5902 Springfield Boulevard, Jacksonville, FL 32208 d. Missouri (1 property) The Assets and Buyers subject to the Motion and the Order are as follows: 1 7633 Christiana Fosterville Rd., Christiana, TN: Lais Smith 2 815 S. Shephard Street, Winchester, TN: Lais Smith 3 150 Loudon Highway, Kingston, TN: Dillon Willett 4 1185 Knowling Loop Rd., Talbott, TN: Thomas Towers 5 799 Evergreen St. , Dresden, TN: Shawn Childress 6 509 Leath Street, Memphis, TN: Michael Floyd 7 2114 Orr Rd., Poplar Bluff, MO: Dawson Greenwall 8 255 Biltmore, Mansfield, GA: Waleed Nader 9 5902 Springfield Blvd., Jacksonville, FL: Kalani Creutzburg All issues related to Lots 3, 7, and 9 were resolved by the Prior Order. All issues related to the remaining Lots 1, 2, 4, 5, 6, and 8 are resolved in the Order (Remaining Lots). To the extent assignment is permitted under the terms of an applicable Sale Agreement, references in this Order to a Buyer are intended to include any permitted assignee of such Buyer under that Sale Agreement. The Trustee has demonstrated a sound business purpose for each sale and has satisfied the requirements of 11 U.S.C. Section 363(b). Lot 1 is included in the Encumbered Assets due to recorded liens and assignments of Hiam Family Revocable Living Trust and Connecting Capital Investments, llc. Lots 2, 4, 5, and 6 are included in the Encumbered Assets due to the recorded liens of the Hiam Family Trust. Lot 8 is included in the Encumbered Assets due to the recorded liens of CCI on Lot 8. The sale of Lots 1, 2, 4, 5, 6, and 8 satisfy Section 363(f)(2) because the Hiam Family Trust and CCI consent to these sales. In connection with the Remaining Lots, the Trustee is authorized to consummate the sale of the Encumbered Assets to the respective Buyers identified in the Motion. The total auction commission due in connection with the sale of the Assets is $82,355.00. Of that amount, the sales of the Remaining Lots cumulatively shall be charged $21,677.50, and the closings approved in the Prior Order shall be charged the remainder of the auction commission due. The Trustee is authorized to allocate and implement these payments to specific closings as the Trustee deems reasonably necessary to accomplish the total allocation. About Fair Offer Cash Now Inc. Fair Offer Cash Now owns 27 properties all located in Alabama, Kentucky, Missouri, Tennessee, Georgia and Mississippi having a total current value of $4.94 million. Fair Offer Cash Now, Inc. in Murfreesboro, Tenn., sought relief under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Tenn. Case No. 24-03495) on Sept. 11, 2024, listing $4,942,400 in assets and $4,783,400 in liabilities. Bradley Smotherman, president, signed the petition. Judge Charles M. Walker oversees the case. Lefkovitz & Lefkovitz serves as the Debtor's legal counsel. Robert Mendes was appointed as trustee appointed in this Chapter 11 case. He tapped Robert J. Mendes, Esq., at Epstein Becker & Green, PC as counsel. FRESHREALM INC: Committee Taps Fox Rothschild LLP as Legal Counsel ------------------------------------------------------------------ The official committee of unsecured creditors of Freshrealm Inc and its affiliates seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to employ Fox Rothschild LLP as its counsel. The firm's services include: (a) advising the Committee with respect to its rights, duties, and powers in this Chapter 11 Case; (b) assisting and advising the Committee in its consultations with the Debtor relative to the administration of this Chapter 11 Case; (c) assisting the Committee in analyzing the claims of the Debtor's creditors and the Debtor's capital structure and in negotiating with holders of claims and equity interests; (d) assisting the Committee in its investigation of the acts, conduct, assets, liabilities, and financial condition of the Debtor and of the operation of the Debtor's business; (e) assisting the Committee in analyzing (i) the Debtor's pre-petition financing, (ii) request for debtor in possession, and (iii) proposed use of cash collateral, the terms and conditions of the proposed use of cash collateral and the adequacy of the budget; (f) assisting the Committee in assessing proposed sale and settlement transactions, including the transaction with Blue Apron; (g)assisting the Committee in its investigation of the liens and claims of the holders of the Debtor's pre-petition debt and the prosecution of any claims or causes of action revealed by such investigation; (h)assisting the Committee in its analysis of, and negotiations with, the Debtor or any third party concerning matters related to, among other things, the assumption or rejection of certain leases of nonresidential real property and executory contracts, asset dispositions, sale of assets, financing of other transactions, and the terms of one or more plans of reorganization or liquidation for the Debtor and accompanying disclosure statements and related plan documents; (i) assisting and advising the Committee as to its communications to unsecured creditors regarding significant matters in this Chapter 11 Case; (j) representing the Committee at hearings and other proceedings; (k) reviewing and analyzing applications, orders, statements of operations, and schedules filed with the Court, and advising the Committee as to their propriety; (l)assisting the Committee in preparing pleadings and applications as may be necessary in furtherance of the Committee's interests and objectives in this Chapter 11 Case, including without limitation, the preparation of retention papers and fee applications for the Committee's professionals, including Fox Rothschild; (m)preparing, on behalf of the Committee, any pleadings, including without limitation, motions, memoranda, complaints, adversary complaints, objections, or comments in connection with any of the foregoing; and (n) performing such other legal services as may be required or are otherwise deemed to be in the interests of the Committee in accordance with the Committee's powers and duties as set forth in the Bankruptcy Code, Bankruptcy Rules, or other applicable law. The firm will be paid at these rates: Members $675 to $2,200 per hour Associates $435 to $735 per hour Paralegals $235 to $605 per hour The firm will be paid a blended rate cap of $700 per hour for professional staff, plus reimbursement for its out-of-pocket expenses. Fox Rothschild LLP is a "disinterested person" as that term is defined in section 101(14) of the Bankruptcy Code, and does not represent or hold any interest adverse to the interests of the Debtor's estate, according to court filings. The firm can be reached through: Joseph J. DiPasquale, Esq. Fox Rothschild LLP 49 Market Street Morristown, NJ 07960 Tel: (973) 992-4800 Fax: (973) 992-9125 Email: jdipasquale@foxrothschild.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. GAIA PURCHASER: Fitch Assigns 'BB(EXP)' IDR, Outlook Stable ----------------------------------------------------------- Fitch Ratings has assigned Gaia Purchaser, Inc. a Long-Term Issuer Default Rating (IDR) of 'BB(EXP)'. The Rating Outlook is Stable. Fitch also assigned 'BBB-(EXP)' ratings to the $1.5 billion senior secured term loan to be issued upon closing of the acquisition of Amex GBT, with a 'RR1' Recovery Rating. Ratings are contingent on transaction close, full repayment of existing debt and no material changes to the preliminary credit agreement. The IDR reflects Amex GBT's strong industry position, diverse sector expertise and ability to accelerate efficiency gains. Rating constraints include cyclicality, intense competition and an acquisitive strategy, partly offset by technological advancement and a net EBITDA leverage commitment of 3.0x. The Outlook reflects Fitch's expectation of margin expansion reducing EBITDA leverage to the low-3x in 12-18 months, from 4.0x at close. Near-term execution risk is manageable given established AI initiatives and Long Lake's reusable AI modules. Key Rating Drivers Margin Expansion Supports Deleveraging: Fitch expects Amex GBT's gross EBITDA leverage to rise to about 4.0x following the Long Lake acquisition in 2H26, reflecting a net $1 billion increase in total debt. However, Fitch expects margin expansion to bring leverage to the low-3x range by YE 2027. Long Lake's involvement should accelerate AI-enabled productivity gains and cost savings through its proprietary Nexus AI, supporting Amex GBT's competitiveness with technology-focused peers in the small and medium-sized enterprise (SME) segment. Fitch also expects low-single-digit revenue growth over the forecast period, driven by market share gains and stabilization following 2025 tariff-related disruptions, offsetting the drag from Middle East exposure, which represents 5% of revenue. Moderately Conservative Financial Policy: Fitch expects Amex GBT to maintain its net leverage policy of 3.0x, modestly above its previous 1.5x-2.5x target. The company prioritizes organic FCF deployment through product enhancement, sales and AI transformation, followed by value-accretive acquisitions. Fitch does not expect common dividends to the sponsor over the forecast period, as the preferred equity terms prohibit them while preferred equity remains outstanding. Manageable AI Execution Risk: Fitch views near-term AI execution risk as manageable, underpinned by the company's established AI initiatives and the reusability of Long Lake's AI modules across business services verticals. According to Long Lake, only 20%-30% of the AI transformation requires customization specific to Amex GBT's business model. Early portfolio evidence of profitability improvement supports the viability of Long Lake's strategy. Timing of AI Benefits Uncertain: Longer-term, the magnitude and timing of benefits remain uncertain, given the complexity of managed business travel and CWT integration. Global multinational clients account for approximately 58% of total transaction value, with customized travel policies, duty-of-care requirements and elevated service expectations. Balancing AI-driven and human-assisted resolution will be critical to preserving client satisfaction. Strong Industry Position: Amex GBT is a leading technology and services company for travel, expense, and meetings and events, with coverage in more than 150 countries. Its marketplace benefits from network effects across an extensive base of content suppliers and corporate clients, with client retention in the mid-to-high 90s%. The company's SAP Concur alliance provides access to more than 100 million end users, further broadening the client base. Fitch expects the company's diverse sector expertise and proprietary data to support service quality, personalized offerings and agent orchestration, reinforcing its competitive position. Revenue Diversification: Amex GBT derives about 50% of revenue from the U.S. and 40% from EMEA, with 80% from travel and the remaining 20% from products and professional services. A diversified client and supplier base partly offsets the concentration in transaction-based revenue, as no single client represents more than 2% of revenue. The client portfolio spans multiple sectors, with higher exposure to those with resilient travel demand, including healthcare, industrials and financial services. Cyclical and Competitive Industry: Corporate travel is cyclical and subject to event risks such as terrorism and pandemics. Low-value events and internal meetings are increasingly substituted by teleconferencing technologies as businesses seek to justify returns on investment (ROI). Nonetheless, hybrid or remote work models are fuelling travel related to team building, as companies aim to strengthen connectivity among colleagues. Unmanaged travel, which constitutes 70% of global SMEs, presents a substantial growth opportunity for Amex GBT to offer solutions in cost management, disruption management and ROI tracking. Preferred Shares Treated as Non-Debt: Fitch does not treat the $1.2 billion preferred shares as debt, as they do not increase the probability of default on debt obligations. Fitch applied Adjustment 7 under the Corporate Rating Criteria, as the preferred shares are issued at the Holdco level outside the restricted group and are held by affiliated investors including Koch Equity Development LLC. The preferred shares require no mandatory cash dividends and are not redeemable at the holders' option prior to the maturity of the pro forma senior debt. They are also unsecured and structurally subordinated, and a default would not trigger an event of default on the rated obligations. Peer Analysis Gaia Purchaser, Inc. is rated three notches below Expedia Group, Inc. (BBB/Stable). Expedia focuses on the leisure travel segment, which tends to be more discretionary and cyclical compared to corporate travel. It operates at a significantly larger scale than Amex GBT, which is a leader in a more fragmented market. Historically, Amex GBT has experienced lower margins relative to Expedia due to the high-touch nature of corporate travel management. However, the company has achieved substantial margin improvements through technological transformation. Additionally, Expedia adheres to a gross leverage policy of 2.0x, whereas Amex GBT has a net leverage policy of 3.0x. Fitch’s Key Rating-Case Assumptions - Revenue growth of 21.5% in 2026, reflecting full-year of contribution from CWT acquired in 3Q25, moderating to low single-digit growth thereafter; - EBITDA margins contracting slightly to 18.5% in 2026 amid CWT integration, improving to 23.6% in 2027 and reaching high-20s% by 2028, supported by AI-enabled productivity gains; - Capex of 4% of revenue in 2026, declining to 3% of revenue thereafter; - No equity share repurchases or cash dividends; - Approximately $300 million in strategic acquisitions per year beginning in 2027, funded through FCF; - No voluntary debt repayment assumed over the forecast horizon. Corporate Rating Tool Inputs and Scores Fitch scored the issuer as follows, using its Corporate Rating Tool (CRT) to produce the Standalone Credit Profile (SCP): Business and financial profile factors (assessment, relative importance): management ('bb-', higher), sector characteristics ('bb-', moderate), market and competitive positioning ('bb+', higher), diversification and asset quality ('bb+', moderate), company operational characteristics ('bb+', lower), profitability ('bbb-', moderate), financial structure ('bbb', moderate), and financial flexibility ('bb+', lower). 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. The governance assessment of 'good' has no impact. The operating environment assessment of 'aa-' has no impact. The SCP is 'bb'. To derive the Long-Term IDR: Fitch made no adjustments to the SCP, resulting in an IDR of 'BB'. Recovery Analysis Fitch applies the generic approach for issuers in the 'BB' rating category as per the Corporates Recovery Ratings and Instrument Ratings Criteria. Issuers rated 'BB-' and above are too far from default for a credible default scenario analysis to be generated and would likely generate Recovery Ratings (RRs) that are too high across all instruments. Where an RR is assigned, the generic approach reflects the relative instrument rankings and their recoveries, as well as the higher enterprise valuation of 'BB' ratings in a generic sense for the most senior instruments. Considering the 'BB' IDR, Fitch notches the Category 1 first lien senior secured debt up two to 'BBB-'/'RR1'. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - An expectation of deterioration of business environment in the corporate travel industry; - EBITDA leverage sustaining above 3.5x; - Prolonged deviation from stated financial policy through excessive debt-funded acquisitions or shareholder-friendly actions. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - Evidence of continued ability to gain new clients and increase penetration into the SME segment; - EBITDA leverage sustained below 3.0x; - Margin expansion through AI transformation and CWT integration; - An expectation of an overall stable corporate travel environment over the rating horizon. Liquidity and Debt Structure Fitch expects Amex GBT to maintain robust liquidity, with $600 million of unrestricted cash forecast at YE 2026, following its acquisition by Long Lake. Fitch also expects the company to have $250 million available under its undrawn RCF, with strong FCF generation driven by margin expansion through AI-enhanced productivity. Its preferred equity requires no mandatory cash payment and is not redeemable at holders' option until eight years after closing. However, costs related to CWT integration and AI initiatives, along with potential tuck-in acquisitions, could constrain liquidity. Issuer Profile Amex GBT is a software and services company for travel, expense and meetings and events, with coverage in more than 150 countries. In May 2026, it agreed to be taken private by Long Lake Management via Gaia Purchaser, Inc. Date of Relevant Committee 10 June 2026 MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS Fitch's latest quarterly Global Corporates Sector Forecasts Monitor data file which aggregates key data points used in its credit analysis. Fitch's macroeconomic forecasts, commodity price assumptions, default rate forecasts, sector key performance indicators and sector-level forecasts are among the data items included. Climate Vulnerability Signals The results of its Climate.VS screener did not indicate an elevated risk for Gaia Purchaser, Inc. ESG Considerations The highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. Entity/Debt Rating Recovery ----------- ------ -------- Gaia Purchaser, Inc. LT IDR BB(EXP) Expected Rating senior secured LT BBB-(EXP) Expected Rating RR1 GEBBERS FARMS: Seeks Chapter 11 Bankruptcy in Washington -------------------------------------------------------- Marcy Stamper of Methow Valley News reports that Washington fruit grower Gebbers Farms has entered Chapter 11 bankruptcy as it attempts to reorganize amid mounting debt and difficult market conditions. The company, operating as Brewster Heights Packing & Orchards, filed on June 4 and disclosed more than $225 million in liabilities against assets estimated between $100 million and $500 million. The bankruptcy encompasses a network of affiliated entities involved in orchard farming, fruit packing, and real estate ownership. A day after the filing, Legendary Fruit Company revealed plans to pursue a court-supervised acquisition of substantially all of Gebbers' assets. The proposed deal would significantly expand Legendary Fruit's footprint by adding thousands of acres of orchards and securing exclusive rights to several apple varieties. The combined operation would rank among the region's largest producers of apples and cherries, the report relays. Gebbers has obtained debtor-in-possession financing to continue operating throughout the restructuring and maintain its workforce during the harvest season. The company relies heavily on seasonal agricultural labor and maintains payroll obligations that fluctuate significantly throughout the year. Management emphasized the need for a prompt court process to ensure employees and vendors continue to be paid, according to report. The company traces its roots back more than 100 years in Brewster, Washington, and remains under family ownership. However, executives cited rising labor costs, higher input prices, increased borrowing expenses, and weak agricultural returns as key factors behind the filing. Those challenges have affected many growers across Washington's tree-fruit industry in recent years, the report cites. About Gebbers Farms Inc. Gebbers Farms Inc. is a Washington-based fruit grower. Gebbers Farms Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr E.D. Wash. Case No. 26-01140) on June 4, 2026. In its petition, the Debtor reports more than $225 million in liabilities against assets estimated between $100 million and $500 million. Honorable Bankruptcy Judge Frederick P. Corbit handles the case. The Debtor is represented by Thomas A. Buford, Esq. of Bush Kornfeld LLP. GRAVITAS NW: U.S. Trustee Wants Chapter 11 Case Dismissed --------------------------------------------------------- Daniel J. Sernovitz of Washington Business Journal reports that Gravitas NW, a fine-dining restaurant, is facing Chapter 11 proceedings is defending its reorganization efforts after the U.S. Trustee argued that the company has no clear path to emerge from bankruptcy as an ongoing business. The trustee's position raises questions about the viability of the debtor's restructuring strategy. According to court filings, the trustee believes the restaurant has not adequately demonstrated how it intends to resolve its financial challenges and satisfy creditor claims while remaining operational. The objections could become a key issue as the bankruptcy case progresses. The restaurant's attorney responded by stating that the debtor has a restructuring plan and continues to work toward a successful outcome. Management remains confident that the business can navigate the Chapter 11 process, maintain operations, and ultimately emerge as a viable enterprise, the report states. About Gravitas NW, LLC Gravitas NW, LLC is a New American fine-dining restaurant in Ivy City. Gravitas NW, LLC filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Col. Case No. 26-00199) on April 22, 22026 listing $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Elizabeth L Gunn presides over the case. Charles Earl Walton, Esq. at Law Office Of Charles E. Walton serves as the Debtor's counsel. GROUND WEST: Gets Interim OK to Use Cash Collateral --------------------------------------------------- Ground West Franklin, LLC received interim approval from the U.S. Bankruptcy Court for the Middle District of Tennessee, Nashville Division, to use cash collateral. Under the interim order, the Debtor is authorized to use cash collateral to pay operating expenses based on its budget. The Debtor is also granted access to existing cash, deposit accounts, cash equivalents, post-petition revenues, accounts receivable, and funds held by third-party payment processors without interference from creditors claiming an interest in those assets. The Debtor identifies the U.S. Small Business Administration as a potential secured creditor with a pre-petition blanket UCC-1 lien on substantially all assets, including cash and receivables. As adequate protection, the SBA and other creditors claiming interests in cash collateral will receive replacement liens on post-petition property and proceeds, with the same priority and extent as their pre-petition liens. The order preserves all parties' rights to challenge the validity, priority, enforceability, or adequacy of liens and protections. A final hearing is scheduled for July 14, with objections due by July 8. The order is available at https://shorturl.at/iGZGl About Ground West Franklin LLC Ground West Franklin, LLC operates a fast-casual restaurant operating in Williamson County, Tennessee. Ground West Franklin filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Tenn. Case No. 26-02343) on May 15, 2026. In the petition signed by Matthew Gonzalez, co-owner, the Debtor disclosed up to $50,000 in assets and up to $1 million in liabilities. Judge Nancy B. King oversees the case. Jay R. Lefkovitz, Esq., at Lefkovitz & Lefkovitz, PLLC, represents the Debtor as legal counsel. Timothy Stone of Newpoint Advisors Corporation serves as Subchapter V trustee for the Debtor. HAK ENTERPRISES: Successor Subchapter V Trustee Appointed --------------------------------------------------------- The Acting U.S. Trustee for Region 10 appointed Douglas Adelsperger, Esq., as Successor Subchapter V trustee for HAK Enterprises LLC. Mr. Adelsperger 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. Adelsperger declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Douglas R. Adelsperger, Trustee 1251 N. Eddy St., Suite 200 South Bend, IN 46617 Tel: (260) 407-0909 Email: trustee@adelspergerlawoffices.com About HAK Enterprises LLC HAK Enterprises, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-30003) on January 5, 2026. In its petition, the Debtor reports assets of between $100,001 and $1 million and liabilities of up to $100,000. The Debtor is represented by Heather Faith Welch, Esq., at Hallercolvin, P.C. HALL'S GAS SERVICES: Gets Interim OK to Use Cash Collateral ----------------------------------------------------------- Hall's Gas Services, Inc. got the green light from the U.S. Bankruptcy Court for the Middle District of Florida, Jacksonville Division, to use cash collateral. At the recently held hearing, the court authorized the Debtor's interim use of cash collateral through the next hearing set for July 16. The Debtor relies on ongoing operating revenue to fund day-to-day expenses and has no meaningful alternative funding sources, making access to cash collateral essential to avoid immediate disruption. The Debtor said that continued operations will preserve going-concern value, maximize recoveries for creditors, and support a feasible Subchapter V reorganization plan. On Deck Capital, Kapitus, and Quantum Lending Solutions are the pre-petition merchant cash advance lenders with liens on the Debtor's cash, receivables, and related assets (although only Kapitus appears to have an outstanding balance). The Debtor said that all of its cash, receivables, and other operating revenues may constitute cash collateral, subject to these liens. To protect secured creditors' interests, the Debtor offers adequate protection in the form of replacement liens on post-petition receivables and continued positive cash flow. About Hall's Gas Services Inc Hall's Gas Services, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-02584) on June 9, 2026, with up to $500,000 in assets and up to $1 million in liabilities. Jason Hall, president of Hall's Gas Services, signed the petition. Judge Jason A. Burgess oversees the case. Thomas Adam, Esq., at Adam Law Group, PA, represents the Debtor as bankruptcy counsel. HARDCORE CONCRETE: Seeks to Hire Ford & Semach as General Counsel ----------------------------------------------------------------- Hardcore Concrete, Inc. seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to employ Ford & Semach, PA as counsel. The firm will provide these services: (a) analyze the Debtor's financial situation, and render advice and assistance to it in determining whether to file a petition under Title 11, United States Code; (b) advise the Debtor with regard to the powers and duties in the continued operation of the business and management of the property of the estate; (c) prepare and file the petition, schedules of assets and liabilities, statement of affairs, and other documents required by the Court; (d) represent the Debtor at the section 341 Creditors' meeting; (e) provide legal advice to the Debtor with respect to its powers and duties in the continued operation of its business and management of its property; if appropriate; (f) advise the Debtor with respect to its responsibilities in complying with the United States Trustee's Operating Guidelines and Reporting Requirements and with the rules of the court; (g) prepare necessary legal papers and appear at hearings thereon; (h) protect the interests of the Debtor in all matters pending before the court; (i) represent the Debtor in negotiation with its creditors in the preparation of the Chapter 11 Plan; and (k) perform all other legal services for which may be necessary herein. The firm's counsel and paralegal will be paid at these hourly rates: Buddy Ford, Attorney $550 Jonathan Semach, Attorney $500 Heather Reel, Attorney $450 Paralegal $150 In addition, the firm will seek reimbursement for expenses incurred. Prior to the commencement of the case, the Debtor paid $23,000 as retainer. Mr. Ford 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: Buddy D. Ford, Esq. Ford & Semach, PA 9301 West Hillsborough Avenue Tampa, FL 33615 Telephone: (813) 877-4669 Email: Buddy@tampaesq.com About Hardcore Concrete Inc. Hardcore Concrete Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla., Case No. 26-01392) on June 5, 2026, with $500,001 to $1 million in both assets and liabilities. Judge Luis Ernesto Rivera II presides over the case. Buddy D. Ford, Esq., at Ford & Semach, PA represents the Debtor as counsel. HARLING INC: Court Extends Cash Collateral Access to July 3 ----------------------------------------------------------- Harling, Inc. received another extension from the U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, to use cash collateral. The interim order penned by Judge Jacqueline Cox authorized the Debtor to use cash collateral retroactive to the date of filing the Debtor's Chapter 11 case through July 3. As protection from any diminution in the value of its collateral, Byline Bank will be granted a first-priority lien on property acquired by the Debtor after the petition date, including all proceeds and products thereof. This lien will have the same priority and extent as the bank's pre-bankruptcy lien. A further hearing is scheduled for June 30. The interim order is available at https://shorturl.at/beBcb from PacerMonitor.com. The Debtor previously entered into two loan agreements with Byline Bank: one for $250,000 and another for $1.05 million, both secured by the Debtor's assets, including equipment, inventory, accounts receivable, and general intangibles. Byline Bank has filed proofs of claim for $218,647 and $741,213 on those respective loans. The Debtor's schedules list total assets of $29,137, primarily composed of $21,447 in accounts receivable and $3,500 in office furniture and equipment. About Harling Inc. Harling Inc. specializes in masonry facade repair, restoration, and building waterproofing services for commercial, industrial, and institutional buildings. It is based in Broadview, Ill. Harling sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 25-04324) on March 1, 2025. In its petition, the Debtor reported between $100,000 and $500,000 in assets and between $1 million and $10 million in liabilities. Judge Jacqueline P. Cox handles the case. Joel Schechter, Esq., at the Law Offices of Joel A. Schechter is the Debtor's legal counsel. Byline Bank, as secured creditor, is represented by: Martin J. Wasserman, Esq. Carlson Dash, LLC 216 S. Jefferson St., Suite 303 Chicago, IL 60661 Phone: 312-382-1600 mwasserman@carlsondash.com HARLOW ENTERPRISES: Plan Exclusivity Period Extended to July 18 --------------------------------------------------------------- Judge David L. Bissett of the U.S. Bankruptcy Court for the Northern District of West Virginia extended Harlow Enterprises LLC's exclusive periods to file a plan of reorganization to July 18, 2026. As shared by Troubled Company Reporter, the Debtor explains that its prior CPA has advised that the 2022 and 2023 tax returns were filed and is to provide proof of the filing to counsel for the Debtor. The Internal Revenue Service filed a claim and confirmed to counsel that it has not received the 2022 and 2023 tax returns for the Debtor. In addition, there are numerous estimated debts claimed to be owed by West Virginia Tax. The Debtor claims that it has a new CPA investigating and preparing amended returns, but it is unknown whether these returns were filed and not associated with the Debtor entity (returns were filed as pass through on the individual returns of Kenny Harlow). The Debtor has been working in good faith to prepare amended returns and to clarify the estimated and missing returns identified by the taxing claimants. In addition, the prior CPA has agreed to provide information to counsel for the Debtor but this request is still pending. Harlow Enterprises LLC is represented by: Aaron C. Amore, Esq. WVSB #6455 206 West Liberty Street Charles Town, WV 25414 Phone 304- 885-4117 Fax: 866-417-8796 E-mail: aaron@amorelaw.com About Harlow Enterprises Harlow Enterprises LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. W.Va. Case No. 26-00165) on March 20, 2026, with $50,001 to $100,000 in assets and $0 to $50,000 in liabilities. Judge David L. Bissett presides over the case. Aaron C. Amore, at Amore Law, PLLC, is representing the Debtor. HAWTHORNE RACE: Seeks to Extend Plan Exclusivity to Oct. 26 ----------------------------------------------------------- Hawthorne Race Course, Inc. and affiliates asked the U.S. Bankruptcy Court for the Northern District of Illinois to extend their exclusivity periods to file a plan of reorganization and obtain acceptance thereof to Oct. 26 and Dec. 24, 2026, respectively. The Debtors explain that they have obtained Court approval of debtor in possession financing to enable continued operations through a sale process. The Debtors have implemented procedures for the marketing and sale of their assets, either as a going concern or as a real estate sale. The current bid deadline is June 26, 2026 and a hearing to approve a sale is scheduled for July 13, 2026. Any closing is not anticipated to occur until early August. The Debtors thus seek an extension of the Exclusive Periods so that the Debtors, in consultation with the Committee, can work to develop a viable plan. The Debtors claim that they have a reasonable prospect for proposing a viable chapter 11 plan. The Debtors anticipate that the sale proceeds will exceed the amount of all secured, administrative, and priority claims. The Debtors intend to work with the Committee in formulating a plan. Any proposed plan will be structured so as to ensure a maximum recovery to the Debtors’ creditors and parties in interest. Until a sale has closed, however, the Debtors will be unable to formulate the plan. The Debtors do not believe that the requested extension of the Exclusive Periods will harm the Debtors' creditors or other parties in interest. The Debtors have conducted these Chapter 11 Cases in an efficient manner, for the benefit of creditors and other parties in interest. The Debtors are not seeking this extension to prejudice their creditors or to otherwise pressure creditors to submit to reorganization demands. To the contrary, the Debtors have been working closely with the Committee on the sale process to maximize the return to creditors and intend to work closely with the Committee on the formulation of a plan. The Committee has advised the Debtors that it supports the relief requested in this Motion. Counsel for the Debtors: Barry A. Chatz, Esq. David A. Golin, Esq. SAUL EWING LLP 161 North Clark Street, Suite 4200 Chicago, IL 60601 Telephone: (312) 876-7100 Email: barry.chatz@saul.com david.golin@saul.com About Hawthorne Race Course Hawthorne Race Course Inc. operates a historic racetrack that provides Thoroughbred and Standardbred racing events along with off-track betting throughout Chicago. Hawthorne Race Course Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-03505) on February 27, 2026. In its petition, the Debtor reports assets ranging from $50 million to $100 million and liabilities between $100 million and $500 million. Honorable Bankruptcy Judge Timothy A. Barnes handles the case. The Debtor is represented by Barry A. Chatz, Esq. of Saul Ewing Arnstein & Lehr LLP. Getzler Henrich & Associates serves as Financial Advisor, Omni Agent Solutions as Claims Agent. HAZE HOSPITALITY: Seeks to Hire Hedgestone Business as Broker ------------------------------------------------------------- Haze Hospitality LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ Hedgestone Business Advisors as broker. Hedgestone will assist in the sale of the Debtor's property. The firm will receive a commission of 7 percent of the property's selling price. Michael Steinberg, the president of Hedgestone Business Advisors, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Michael Steinberg Hedgestone Business Advisors 164 Main Street Huntington, NY 11743 Telephone: (561) 593-3711 About Haze Hospitality LLC Haze Hospitality LLC is a hospitality industry company engaged in the ownership, management, or operation of hospitality-related businesses. The company operates within the food, beverage, lodging, or entertainment sector, serving customers in the hospitality market. Haze Hospitality LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 26-72050) on May 21, 2026. In its petition, the Debtor listed up to $100,000 in assets and up to $1 million in liabilities. Honorable Bankruptcy Judge Louis A. Scarcella handles the case. The Debtor is represented by Marc A. Pergament, Esq., at Weinberg, Gross & Pergament, LLP. HEAL BY TOUCH: Gets Interim OK to Use Cash Collateral ----------------------------------------------------- Heal by Touch, Inc. got the green light from the U.S. Bankruptcy Court for the Middle District of Florida, Tampa Division, to use cash collateral. At the recently held hearing, the court authorized the Debtor's interim use of cash collateral and set a further hearing for August 6. The Debtor needs access to cash collateral to continue operations and intends to use such funds in accordance with the budget to pay expenses, including payments to owner-operators and other operational costs. The Debtor identifies two primary secured creditors -- the U.S. Small Business Administration and Brickhouse Capital, LLC -- which may assert liens on substantially all of the Debtor's assets, including cash and personal property. The Debtor estimates that these secured creditors' claims are partially secured by approximately $214,091 in assets, of which roughly $191,501 is alleged to constitute cash collateral subject to their interests. As adequate protection for the secured creditors' interests, the Debtor offers replacement liens on post-petition assets and proceeds to the same extent and priority as their pre-petition liens, along with additional protections such as a right to inspect collateral on 48 hours' notice (so long as it does not disrupt operations) and ongoing access to financial reporting and documents. About Heal by Touch Inc. Heal by Touch, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-04898) on June 8, 2026, with up to $500,000 in assets and up to $1 million in liabilities. Ashley N. Tinker, president of Heal by Touch, signed the petition. Judge Catherine Peek Mcewen oversees the case. Buddy D. Ford, Esq., at Ford & Semach, P.A., represents the Debtor as legal counsel. HEAL BY TOUCH: Seeks to Hire Ford & Semach as Bankruptcy Counsel ---------------------------------------------------------------- Heal by Touch, Inc. seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to employ Ford & Semach, PA as counsel. The firm will provide these services: (a) analyze the Debtor's financial situation, and render advice and assistance to it in determining whether to file a petition under Title 11, United States Code; (b) advise the Debtor with regard to the powers and duties in the continued operation of the business and management of the property of the estate; (c) prepare and file the petition, schedules of assets and liabilities, statement of affairs, and other documents required by the Court; (d) represent the Debtor at the section 341 Creditors' meeting; (e) provide legal advice to the Debtor with respect to its powers and duties in the continued operation of its business and management of its property; if appropriate; (f) advise the Debtor with respect to its responsibilities in complying with the United States Trustee's Operating Guidelines and Reporting Requirements and with the rules of the court; (g) prepare necessary legal papers and appear at hearings thereon; (h) protect the interests of the Debtor in all matters pending before the court; (i) represent the Debtor in negotiation with its creditors in the preparation of the Chapter 11 Plan; and (j) perform all other legal services for which may be necessary herein. The firm's counsel and paralegal will be paid at these hourly rates: Buddy Ford, Attorney $550 Jonathan Semach, Attorney $500 Heather Reel, Attorney $450 Paralegal $150 In addition, the firm will seek reimbursement for expenses incurred. Prior to the commencement of this case, the Debtor paid an advance fee of $9,500. Mr. Ford 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: Buddy D. Ford, Esq. FORD & SEMACH, PA 9301 West Hillsborough Avenue Tampa, FL 33615 Telephone: (813) 877-4669 Email: Buddy@tampaesq.com About Heal by Touch Inc. Heal By Touch, Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-04898) on June 8, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Catherine Peek McEwen oversees the case. Buddy D. Ford, Esq., at Ford & Semach, PA represents the Debtor as counsel. HIGHLAND HOMES: Tarek Kiem of Kiem Law Named Subchapter V Trustee ----------------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Tarek Kiem, Esq., at Kiem Law, PLLC as Subchapter V trustee for Highland Homes of Sebastian Inc. Mr. Kiem will be paid an hourly fee of $350 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Kiem declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Tarek Kiem, Esq. Kiem Law, PLLC 8461 Lake Worth Road, Suite 114 Lake Worth, FL 33467 Tel: (561) 600-0406 tarek@kiemlaw.com About Highland Homes of Sebastian Inc. Highland Homes of Sebastian Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-17749) on June 13, 2026, with $1,000,001 to $10 million in assets and liabilities. Judge Erik P. Kimball presides over the case. Paul N. Mascia, Esq. represents the Debtor as legal counsel. HOLLY INVESTMENT: Case Summary & One Unsecured Creditor ------------------------------------------------------- Debtor: Holly Investment Inc. 411 E. Huntington Drive #314 Arcadia CA 91006 Business Description: Holly Investment Inc. is a single-asset real estate entity, as defined in 11 U.S.C. Section 101(51B). Chapter 11 Petition Date: June 19, 2026 Court: United States Bankruptcy Court Central District of California Case No.: 26-16142 Judge: Hon. Barry Russell Debtor's Counsel: Robert Altagen, Esq. ROBERT S ALTAGEN 1111 Corporate Center Drive #201 Montery Park, CA 91754 Tel: (323) 268-9588 E-mail: robertaltagen@altagenlaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Hamed Haghighi as CEO. The Debtor identified Pioneer Engineering & Development Inc., located at 411 E. Huntington Dr. #214, Arcadia, CA 91006, as its sole unsecured creditor, holding a $92,888 claim. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/NUOVNDQ/Holly_Investment_Inc__cacbke-26-16142__0001.0.pdf?mcid=tGE4TAMA HPC MOTORSPORTS: Gets Final OK to Use Cash Collateral ----------------------------------------------------- HPC Motorsports, LLC received final approval from the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, to use cash collateral. The Debtor may use cash collateral, including revenue generated in the ordinary course of business, in accordance with the approved 30-day operating budget, which projects total operational expenses of $189,963.00 As adequate protection, secured creditors will be granted replacement liens on all post-petition cash collateral and post-petition acquired property, maintaining the same extent and priority as their pre-petition liens. Holders of allowed secured claims with perfected interests in cash collateral are also entitled to replacement liens on post-petition accounts receivable, contract rights, and deposit accounts. The replacement liens remain subject to a carveout for court fees, U.S. Trustee fees, Subchapter V Trustee fees, and up to $15,000 in Chapter 7 trustee expenses if applicable. As additional protection, the Debtor must make monthly payments of $6,868.80 to Frost Bank beginning July 1 and continuing until plan confirmation or dismissal or conversion of the Debtor's Chapter 11 case. The court emphasized that the order does not constitute a determination that creditors are fully protected, nor does it affect any creditor's rights regarding plan treatment, claims, liens, defenses, or remedies. Creditors retain their rights to seek additional adequate protection, object to improper use of cash collateral, or pursue other remedies. The Debtor's authority to use cash collateral will automatically terminate upon dismissal, conversion, appointment of a Chapter 11 trustee, expiration of any applicable cash collateral order, or a material breach of the budget requirements. Any alleged default must be noticed and may be heard on an expedited basis. About HPC Motorsports LLC HPC Motorsports, LLC is an automotive performance repair and modification business based in Spring, Texas. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-33781) on May 29, 2026. In the petition signed by Elie Bejjani, managing member, the Debtor disclosed up to $500,000 in both assets and liabilities. Judge Eduardo V. Rodriguez oversees the case. Robert C Lane, Esq., at the Lane Law Firm, represents the Debtor as legal counsel. J GROUP: Commences Chapter 7 Bankruptcy in Georgia -------------------------------------------------- On June 17, 2026, The J Group, Inc. filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Northern District of Georgia. According to court filings, the debtor reports between $100,001 and $1 million in debt owed to between 1 and 49 creditors. The court has set December 14, 2026, as the deadline for filing governmental proofs of claim. About The J Group, Inc. The J Group, Inc. is a corporation. Additional details regarding the company's business operations were not disclosed in the bankruptcy petition. The J Group, Inc. sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-57909) on June 17, 2026. In its petition, the debtor reported estimated assets of between $0 and $100,000 and estimated liabilities of between $100,001 and $1 million. Honorable Bankruptcy Judge Jonathan W. Jordan handles the case. The debtor is represented by Evan M. Altman of Evan M. Altman, Attorney at Law. J.B. HARRIS: Case Summary & Five Unsecured Creditors ---------------------------------------------------- Debtor: J.B. Harris, P.A. c/o DB Mortgage LLC Attn: Stuart Kalb 19 W. Flagler St. Miami, FL 33130 Chapter 11 Petition Date: June 18, 2026 Court: United States Bankruptcy Court Southern District of Florida Case No.: 26-18018 Judge: Hon. Peter D Russin Debtor's Counsel: David L. Rosendorf, Esq. KOZYAK TROPIN & THROCKMORTON, LLP 2525 Ponce de Leon Blvd. 9th Floor Miami, FL 33134 Tel: 305-372-1800 Email: dlr@kttlaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Stuart R. Kalb as manager of DB Mortgage LLC, sole shareholder of J.B. Harris, P.A. 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/MNBILNY/JB_Harris_PA__flsbke-26-18018__0001.0.pdf?mcid=tGE4TAMA JESUS IS LORD: Seeks to Tap McKinley Onua & Associates as Counsel ----------------------------------------------------------------- Jesus is Lord Ministries Sabbath Day Adventist Church Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ McKinley Onua & Associates, PLLC as counsel. The firm's services include: (a) advise the Debtor with respect to its powers and duties under the Bankruptcy Code in the continued operation of its business and the management of its affairs and property; (b) negotiate with creditors of the Debtor, prepare a plan of reorganization and take the necessary legal steps to consummate a plan; (c) appear before the various taxing authorities to work out a plan to pay taxes owing in installments; (d) prepare the Debtor's behalf necessary legal documents; (e) appear before this Court to protect the interests of the Debtor and its estates, and represent it in all matters pending before this Court and any other Court or Judicial Tribunal; (f) perform all other legal services that may be necessary herein; and (g) assist the Debtor in connection with all aspects of its Chapter 11 case. The firm will be paid at these hourly rates: Nnenna Onua, Attorney $500 Associates $450 Paralegals $175 Subsequent to the filing of this case, the firm only received $6,500 from the Debtor's principal. Nnenna Onua, Esq., an attorney at McKinley Onua & Associates, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Nnenna Onua, Esq. McKinley Onua & Associates, PLLC 233 Broadway, Suite 2348 New York, NY 10279 Telephone: (718) 522-0236 About Jesus Is Lord Ministries Sabbath Day Adventist Church Jesus Is Lord Ministries Sabbath Day Adventist Church is a religious organization that provides worship services, spiritual guidance, and community-based programs to its congregation. Jesus Is Lord Ministries Sabbath Day Adventist Church sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 26-42116) on April 29, 2026. In its petition, the Debtor reports estimated assets of up to $10 million and estimated liabilities of up to $1 million. Honorable Bankruptcy Judge Elizabeth S. Stong handles the case. The Debtor is represented by Nnenna Okike Onua, Esq., at McKinley Onua & Associates. JJ&D INVESTMENTS: Seeks Chapter 11 Bankruptcy in Nevada ------------------------------------------------------- On June 17, 2026, JJ&D Investments LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Nevada. According to court filings, the debtor reports between $0 and $100,000 in debt owed to between 1 and 49 creditors. The Chapter 11 plan deadline has been set for October 15, 2026, with the Statement of Financial Affairs due no later than July 1, 2026. About JJ&D Investments LLC JJ&D Investments LLC is a limited liability company engaged in investment and asset-holding activities. The bankruptcy petition provides limited details regarding the company's specific operations and holdings. JJ&D Investments LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-13794) on June 17, 2026. In its petition, the debtor reported estimated assets of $0 to $100,000 and estimated liabilities of $0 to $100,000. The case is pending before the U.S. Bankruptcy Court for the District of Nevada. The debtor is represented by David A. Riggi of Riggi Law Firm. JTD ENTERPRISES: Seeks to Hire Schick CPA Staff as Accountant ------------------------------------------------------------- JTD Enterprises LLC seeks approval from the U.S. Bankruptcy Court for the District of North Dakota to employ Schick CPA Staff as accountant. The firm will provide accounting services to the Debtor. The firm will be paid at these hourly rates: CPAs $350 Staff $150 Corey Schick, CPA, at Shick CPA Staff, 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: Corey Schick, CPA Schick CPA Staff 711 Riverwood Drive, Suite 1 Bismarck ND 8504 About JTD Enterprises LLC JTD Enterprises, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D.N.D. Case No. 26-30337) on April 30, 2026, with up to $50,000 in assets and $100,001 to $500,000 in liabilities. Elizabeth Lally serves as Subchapter V trustee for the Debtor. Judge Shon Hastings oversees the case. The Debtor tapped Sarah Catherine Duffy, Esq., at Ahlgren Law Office as counsel and Schick CPA Staff as accountant. JTRE 14: To Sell West 72nd Street Property to Morgan Barrington --------------------------------------------------------------- Albert Togut, Chapter 11 Trustee of W72 Street Partners LLC and its affiliates including JTRE 14 Vesey LLC, seek permission from the U.S. Bankruptcy Court for the District of New Jersey, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor owns real property known as Unit A. 27-33 West 72nd Street a/k/a 22-26 West 73rd Street, New York, NY 10023. The Debtor's estate does not have the ability to address or pay any secured, priority, or administrative claims that have been asserted against it absent a sale of the Property by the Trustee. The Property does not generate any income. It is subject to a recorded first-priority lien that secures claims held by CPIF MRA, LLC. The Trustee and the Debtor retain Cushman and Wakefield as real estate broker to market and assist in the sale of the Property. The Trustee receives an offer from Morgan Barrington Financial to purchase the Property for the purchase price of $2,375,000, all cash, subject to higher or better offers. The Trustee seeks entry of a bidding procedures for the Property. At the Sale Hearing, the Trustee will seek entry of an order approving the sale of the Property to the Successful Bidder. As of the Petition Date, the Debtor was owed not less than $22,443,096.71 on account of the W72nd Street Mortgage and Notes. The Property is subject to tax liens securing tax claims of approximately $700,000, which claims will continue to accrue until the closing of the Sale. The Trustee is not aware of any other asserted liens or secured claims encumbering the Property. The Trustee respectfully submits that given the Trustee's need to maximize value for creditors through a timely and efficient marketing process, the ability to designate a stalking horse bidder and offer such bidder the Stalking Horse Bid Protections is justified, appropriate, and essential. The Trustee proposes to fix August 6, 2026, at 5:00 p.m. (ET) as the Bid Deadline. In the event that a Qualified Bid (defined below) is received on or before the Bid Deadline, the Trustee proposes to hold an Auction on August 11, 2026, at 1:00 p.m. (ET).3 The Bidding Procedures contain the terms and procedures that will govern the submission of Qualified Bids for the Property. At the Auction, and subject to the Bidding Procedures, all Qualified Bidders will be allowed to bid to purchase the Property. The Trustee respectfully submits that the Bidding Procedures are reasonably designed to ensure that the Debtor’s estate receives the highest or best purchase price for the Property. About JTRE 14 Vesey LLC JTRE 14 Vesey LLC owns, in fee simple, the real property at located at 14 Vesey Street, New York, New York 10007. The Debtor filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Case No. 24-12087) on Feb. 28, 2024, listing $10 million to $50 million in both assets and liabilities. The petition was signed by David Goldwasser, VP of Restructuring. Eric Horn, Esq., at A.Y. Strauss LLC, is the Debtor's legal counsel. KARTOON STUDIOS: Court OKs $50M Deal With Additional Settling Party ------------------------------------------------------------------- Kartoon Studios Inc. said a federal court approved its settlement agreement with an additional party in the Augenbaum v. Anson Investments Master Fund LP litigation. The company said the additional settling party agreed to pay aggregate settlement payments of $50,000,000, minus fees and expenses of plaintiff's counsel, subject to certain terms and conditions. The parties also agreed to mutual releases. Kartoon said the June 11 approval means the court has now approved all settlement agreements entered into with settling parties in the action pending in the U.S. District Court for the Southern District of New York. The action continues against two remaining defendants who have not settled, according to the filing. About Kartoon Studios, Inc. Kartoon Studios, Inc. is a Beverly Hills, California-based global content and brand management company focused on creating, producing, licensing and distributing multimedia animated content for children. Its businesses include original intellectual property development, third-party production services, media agency services and content monetization through licensing and owned distribution platforms. The company's owned and produced titles include Stan Lee's Superhero Kindergarten, Llama Llama, Rainbow Rangers, KC! Pop Quiz and Shaq's Garage, and it operates Mainframe Studios, Frederator, Kartoon Channel! and Ameba TV. In an audit report dated March 30, 2026, WithumSmith+Brown, PC included a going concern qualification, stating that Kartoon Studios suffered recurring losses and negative cash flows from operations since inception and expected to continue incurring losses and negative cash flows in the future. The conditions raised substantial doubt about the company's ability to continue as a going concern. As of March 31, 2026, Kartoon Studios reported total assets of $63.57 million, total liabilities of $40.98 million and stockholders' equity of $22.58 million. KEEL LABS: Seeks to Tap Hendren Redwine & Malone as Legal Counsel ----------------------------------------------------------------- Keel Labs, Inc. seeks approval from the U.S. Bankruptcy Court for the Eastern District of North Carolina to employ Hendren, Redwine & Malone, PLLC as counsel. The firm will represent and assist the Debtor in carrying out its duties under the provisions of Chapter 11 of the Bankruptcy Code. The firm received a retainer of $30,000 on March 31, 2026 from the Debtor. Jason Hendren, Esq., an attorney at Hendren, Redwine & Malone, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Jason L. Hendren, Esq. Hendren, Redwine & Malone, PLLC 4600 Marriott Drive, Suite 150 Raleigh, NC 27612 Telephone: (919) 573-1422 Facsimile: (919) 420-0475 Email: jhendren@hendrenmalone.com About Keel Labs Inc. Keel Labs Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.C. Case No. 26-02558) on June 5, 2026, with $1,000,001 to $10 million in assets and $100,001 to $500,000 in liabilities. Judge Joseph N. Callaway presides over the case. Jason L. Hendren, Esq., at Hendren Redwine & Malone, PLLC represents the Debtor as counsel. KENNETH B. WALKER: Seeks to Hire Boyer Terry as Bankruptcy Counsel ------------------------------------------------------------------ Kenneth B. Walker Residential Home, Inc. seeks approval from the U.S. Bankruptcy Court for the Middle District of Georgia to employ Boyer Terry LLC as counsel. The firm will render these services: (a) provide legal advice with respect to the Debtor's powers and obligations in the continued operation of its business and management; (b) prepare on behalf of the Debtor necessary legal papers; (c) continue existing litigation, if any, may be a party and to conduct examinations incidental to the administration of its estate; (d) take all necessary actions for the proper preservation and administration of the Debtor's estate; (e) assert, as directed by the Debtor, all claims it has against others; (f) negotiate and work with the Subchapter V Trustee and creditors in this case to analyze the Debtor's assets and liabilities and determine the extent, validity, and priority of all claims and interests in this case; (g) assist the Debtor in preparation of its Plan of Reorganization; (h) perform all other legal services for the Debtor which may deem necessary. The firm's hourly rates are as follows: Attorneys $350 - $370 Paralegals $125 Research Assistants $100 In addition, the firm will seek reimbursement for expenses incurred. The firm received an initial retainer of $10,000 from the Debtor. Christopher Terry, Esq., a partner at Boyer Terry, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Christopher W. Terry, Esq. Boyer Terry LLC 348 Cotton Avenue, Suite 200 Macon, GA 31201 Telephone: (478) 742-6481 Email: chris@boyerterry.com About Kenneth B. Walker Residential Home Kenneth B. Walker Residential Home, Inc. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Ga. Case No. 26-40340) on May 4, 2026, listing under $10 million in both assets and liabilities. Honorable Bankruptcy Judge John T. Laney, III oversees the case. The Debtor is represented by Christopher W. Terry, Esq., at Boyer Terry LLC. LINDY'S ON 4TH: Seeks Subchapter V Bankruptcy in Arizona -------------------------------------------------------- On June 21, 2026, Lindy's On 4th Ave, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Arizona. According to court filings, the debtor reports between $100,001 and $1 million in liabilities owed to between 1 and 49 creditors. A meeting of creditors under Section 341(a) to be held on August 6, 2026 at 10:30 AM as a Chapter 11 Teleconference Call in number: 1-888-330-1716, Passcode: 4038524. Deadline for the attorney disclosure statement is 07/06/2026, while the Subchapter V Chapter 11 small business plan must be filed by 09/21/2026. About Lindy's On 4th Ave, LLC Lindy's On 4th Ave, LLC is a Tucson, Arizona-based hospitality company that operates Lindy's on 4th, a restaurant and bar known for its burgers, craft beverages, and casual dining experience in the city's historic Fourth Avenue district. Lindy's On 4th Ave, LLC sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-06107) on June 21, 2026. In its petition, the debtor reported estimated assets of $0 to $100,000 and estimated liabilities of $100,001 to $1 million. Honorable Bankruptcy Judge Brenda Moody Whinery is overseeing the case. The debtor is represented by Jody A. Corrales, Esq. of DeConcini McDonald Yetwin & Lacy P.C. LITHOTYPE COMPANY: Plan Exclusivity Period Extended to Oct. 7 ------------------------------------------------------------- Judge Daniel R. Fine of the U.S. Bankruptcy Court for the Northern District of Illinois extended Lithotype Company Inc.'s exclusive periods to file a plan of reorganization to Oct. 7, 2026. As shared by Troubled Company Reporter, the Debtor is an Illinois corporation which is in the business of manufacturing flexible packaging and printing, with its business premises located at 2 Territorial Court, Bolingbrook, Illinois 60440 ("Premises"). The Debtor's Chapter 11 case was filed due to the Debtor being unable to service its secured and unsecured debt. On Feb. 9, 2026, this court entered an order setting June 8, 2026, as the date for the filing of a plan of reorganization and disclosure statement. The Debtor explains that it is in the process of preparing a plan of reorganization and disclosure statement with attached five-year plan projections but is still in the process of assessing its post-petition financial results in order to draft its plan. The requested extension is the first extension requested by the Debtor. This Motion is not being brought to cause delay, no party will be prejudiced by the granting of the requested extension, and no prior extensions have been requested. About Lithotype Company Inc. Lithotype Company Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-02207) with $1 million to $10 million in assets and $10 million to $50 million in liabilities. The petition was signed by John E. Gerba as director of finance. Judge Daniel R. Fine oversees the case. The Debtor is represented by: Scott R. Clar, Esq. Crane, Simon, Clar & Goodman 312-641-6777 sclar@cranesimon.com LORENZO'S DOG: Gets Interim OK to Use Cash Collateral ----------------------------------------------------- Lorenzo's Dog Training Team, LLC and Lone Wolf Real Estate Holdings, LLC received interim approval from the U.S. Bankruptcy Court for the Northern District of Ohio, Eastern Division, to use cash collateral. At the recently held hearing, the court granted the Debtors a two-week extension to use cash collateral to fund their operations. The Debtors have no source of unencumbered cash and have been unable to obtain alternative debtor-in-possession financing on more favorable terms. Accordingly, the use of existing cash collateral is their only practical source of working capital. The Debtors' cash collateral consists primarily of cash deposits and accounts receivable, subject to liens held by JPMorgan Chase Bank, N.A. The lender may hold a first-priority security interest in substantially all of the Debtors' assets, including inventory, accounts, equipment, and general intangibles. Additional creditors that may claim interests in the Debtors' property include ODK Capital and ByzFunder. As adequate protection to JPMorgan, the Debtors offer granting replacement post-petition liens on estate assets with the same validity, priority, and extent as the lender's pre-petition liens. They also offer to make interest-only payments of $5,000 per month to JPMorgan and provide monthly financial information through operating reports filed with the court. Lorenzo's' businesses operate from a facility in Cleveland, Ohio, and are owned and managed by Timothy L. Miller through TLM Holdings, LLC. The Debtors generated approximately $7.27 million in gross revenue during 2024 and $3.55 million in 2025 and currently employ eight workers. JPMorgan is represented by: Justin W. Ristau, Esq. Nelson M. Reid, Esq. Bricker Graydon Wyatt LLP 100 South Third Street Columbus, OH 43215 (614) 227-2300 (telephone) (614) 227-2390 (facsimile) jristau@bricker.com nreid@bricker.com About Lorenzo's Dog Training Team LLC Lorenzo's Dog Training Team, LLC operates a dog training education organization for individuals seeking to become dog trainers. The company is based in Cleveland, Ohio. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ohio Case No. 26-12667) on June 9, 2026, with up to $50,000 in assets and up to $10 million in liabilities. Timothy L. Miller, president of Lorenzo's Dog Training Team, signed the petition. Judge Suzana Krstevski Koch oversees the case. Michael A. Steel, Esq., at Michael Steel, represents the Debtor as legal counsel. LUNAI BIOWORKS: Nasdaq Panel Confirms Bid Price Compliance ---------------------------------------------------------- Lunai Bioworks, Inc. disclosed in a regulatory filing that it received a letter from The Nasdaq Stock Market LLC confirming that the Panel has determined that the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2), which requires listed securities to maintain a minimum bid price of $1.00 per share, and that the Company has met the terms set forth in the Nasdaq Hearings Panel's decision and extension letters dated April 20, 2026, and May 12, 2026, respectively. Nasdaq also informed the Company that, pursuant to Nasdaq Listing Rule 5815(d)(4)(B), the Company will be subject to a mandatory Panel monitor for a period of one year from the date of Nasdaq's letter. During the monitoring period, if the staff of Nasdaq determines that the Company is again out of compliance with the Bid Price Rule that was the subject of the exception, notwithstanding Nasdaq Listing Rule 5810(c)(2), the Company will not be permitted to submit a plan of compliance with respect to that deficiency, the staff of Nasdaq will not be permitted to grant additional time for the Company to regain compliance with respect to that deficiency, and the Company will not be afforded any otherwise applicable cure or compliance period pursuant to Nasdaq Listing Rule 5810(c)(3). However, the staff of Nasdaq would issue a delist determination letter, and the Company would have the opportunity to request a new hearing before the Nasdaq Hearings Panel in accordance with Nasdaq Listing Rule 5815(d)(4)(C). The hearing request would stay any suspension or delisting action pending the conclusion of the hearing process. About Lunai Bioworks Headquartered in Los Angeles, Calif., Lunai Bioworks Inc. (formerly Renovaro Inc.) is an AI-powered drug discovery and biodefense Company pioneering safe and responsible generative biology. With proprietary neurotoxicity datasets, advanced machine learning, and a focus on dual-use risk management, Lunai is redefining how artificial intelligence can accelerate therapeutic innovation while safeguarding society from emerging threats. Draper, Utah-based Sadler, Gibb & Associates, LLC, the Company's auditor since 2018, issued a "going concern" qualification in its report dated September 29, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2025, citing that the Company has incurred substantial recurring losses from operations, has used cash in the Company's continuing operations, and is dependent on additional financing to fund operations, which raises substantial doubt about its ability to continue as a going concern. As of December 31, 2025, the Company had total assets of $6.7 million, $20.2 million in total liabilities, and $13.5 million in total shareholders' deficit. LURIN REAL: Committee Hires Pachulski Stang Ziehl as Counsel ------------------------------------------------------------ The official committee of unsecured creditors appointed in the Chapter 11 cases of Lurin Real Estate Holdings XXI, LLC and its affiliates seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Pachulski Stang Ziehl & Jones LLP as counsel. The firm's services include: (a) advise the committee with respect to its rights, duties, and powers in these Chapter 11 cases; (b) assist and advise the committee in its consultations with the Debtors relative to the administration of these cases; (c) assist the committee in its consultations with the Debtors relative to the administration of these cases; (d) assist the committee in its investigation of the acts, conduct, assets, liabilities, and financial condition of the Debtors and of the operation of their businesses; (e) assist the committee in its investigation of, inter alia, the liens and claims of the Debtors' lenders and the prosecution of any claims or causes of action revealed by such investigation; (f) assist the committee in its analysis of, and negotiations with, the Debtors or any third-party concerning matters related to, among other things, the assumption or rejection of leases of nonresidential real property and executory contracts, asset dispositions, financing or other transactions, and the terms of one or more plans of reorganization and accompanying disclosure statements and related plan documents; (g) assist and advise the committee in communicating with unsecured creditors regarding significant matters in these Chapter 11 cases; (h) represent the committee at hearings and other proceedings; (i) review and analyze applications, orders, statements of operations, and schedules filed with the Court and advise the committee as to their propriety; (j) assist the committee in preparing pleadings and applications as may be necessary in furtherance of its interests and objectives; (k) prepare, on behalf of the committee, any pleadings; (l) perform such other legal services as may be required or requested or as may otherwise be deemed in the interests of the committee in accordance with its powers and duties as set forth in the Bankruptcy Code, Bankruptcy Rules or other applicable law. The firm will be paid at these hourly rates: Partners $1,150 - $2,695 Of Counsel $1,175 - $2,050 Associates $725 - $1,350 Paraprofessionals $625 - $695 In addition, the firm will seek reimbursement for expenses incurred. Bradford Sandler, Esq., a partner at Pachulski Stang Ziehl & Jones, 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: Bradford J. Sandler, Esq. Pachulski Stang Ziehl & Jones LLP 10100 Santa Monica Boulevard, 13th Floor Los Angeles, CA 90067 Telephone: (310) 277-6910 About Lurin Real Estate Holdings XXI LLC Lurin Real Estate Holdings XXI LLC is a real estate investment and development company focused on commercial and residential property holdings across multiple U.S. markets. Lurin Real Estate Holdings XXI LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90344) on March 02, 2026. In its petition, the Debtor reports estimated assets and estimated liabilities each in the range of $50 million to $100 million. Honorable Bankruptcy Judge Alfredo R. Perez handles the case. The Debtor is represented by Joshua W. Wolfshohl, Esq. of Porter Hedges LLP. On May 5, 2026, the Office of the United States Trustee for the Southern District of Texas appointed an official committee of unsecured creditors in these Chapter 11 cases. The committee tapped Pachulski Stang Ziehl & Jones LLP as counsel and Province LLC as financial advisor. LURIN REAL: Committee Seeks to Tap Province as Financial Advisor ---------------------------------------------------------------- The official committee of unsecured creditors appointed in the Chapter 11 cases of Lurin Real Estate Holdings XXI, LLC and its affiliates seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to employ Province LLC as financial advisor. The firm will render these services: (a) become familiar with and analyzing the Debtors' debtor-in-possession (DIP) budget, assets and liabilities, and overall financial condition; (b) review financial and operational information furnished by the Debtors; (c) monitor the sale process, interface with the Debtors' professionals, and advise the committee regarding the process; (d) scrutinize the economic terms of various agreement; (e) analyze the Debtors' proposed business plans and developing alternative scenarios, if necessary; (f) assess the Debtors' various pleadings and proposed treatment of unsecured creditor claims therefrom; (g) prepare, or review as applicable, avoidance action and claim analyses; (h) assist the committee in reviewing the Debtors' financial reports; (i) advise the committee on the current state of these Chapter 11 cases; (j) advise the committee in negotiations with the Debtors and third parties as necessary; (k) if necessary, participate as a witness in hearings before the Court with respect to matters upon which Province has provided advice; and (l) other activities as are approved by the committee, its counsel, and as agreed to by Province. The firm will be paid at these hourly rates: Managing Directors and Partners $900 - $1,600 Vice Presidents, Directors, and Senior $700 - $1,050 Analysts, Associates, and Senior Associates $370 - $750 Paraprofessional/Admin/Interns $270 - $380 In addition, the firm will seek reimbursement for expenses incurred. Daniel Moses, a partner at Province, 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: Daniel Moses Province LLC 2360 Corporate Circle, Suite 340 Henderson, NV 89074 Telephone: (702) 685-5555 About Lurin Real Estate Holdings XXI LLC Lurin Real Estate Holdings XXI LLC is a real estate investment and development company focused on commercial and residential property holdings across multiple U.S. markets. Lurin Real Estate Holdings XXI LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90344) on March 02, 2026. In its petition, the Debtor reports estimated assets and estimated liabilities each in the range of $50 million to $100 million. Honorable Bankruptcy Judge Alfredo R. Perez handles the case. The Debtor is represented by Joshua W. Wolfshohl, Esq. of Porter Hedges LLP. On May 5, 2026, the Office of the United States Trustee for the Southern District of Texas appointed an official committee of unsecured creditors in these Chapter 11 cases. The committee tapped Pachulski Stang Ziehl & Jones LLP as counsel and Province LLC as financial advisor. LYNSKEY PERFORMANCE: Gets Interim OK to Use Cash Collateral ----------------------------------------------------------- Lynskey Performance Products, LLC received second interim approval from the U.S. Bankruptcy Court for the Eastern District of Tennessee, Southern Division, for continued use of cash collateral in its Chapter 11 case. The Court authorized the Debtor to use cash collateral in accordance with an approved budget while it continues operating as a debtor-in-possession. The order outlines FirstBank's secured position. Prior to bankruptcy, FirstBank provided a $1.25 million term loan secured by the Debtor’s real property and rents, as well as a $600,000 revolving line of credit secured by substantially all business assets. As of the April 30, 2026 petition date, the Debtor owed approximately $1.81 million in combined principal, plus accrued interest, fees, and expenses. As adequate protection, FirstBank received replacement liens on post-petition collateral and substantially all other assets not already subject to its prepetition liens, to the extent of any diminution in value resulting from the Debtor's use of cash collateral. The bank is also granted a potential superpriority administrative claim under Section 507(b). Additionally, the Debtor must maintain insurance, provide monthly financial reports, and make adequate protection payments of $15,497.40 beginning July 1, 2026, and monthly thereafter. The order establishes default and termination events, including failure to comply with the budget, dismissal or conversion of the case, appointment of a trustee, or budget variances exceeding 15%. FirstBank retains the right to seek further relief, object to future cash collateral requests, and pursue stay relief if necessary. A final hearing on the Debtor's cash collateral motion is scheduled for August 13, with objections due by August 11. FirstBank, as secured lender, is represented by: Taylor C. Davis, Esq. Bradley Arant Boult Cummings LLP 1221 Broadway, Suite 2400 Nashville, TN 37203 Phone: (615) 252-4641 tdavis@bradley.com About Lynskey Performance Designs LLC Lynskey Performance Designs, LLC manufactures and sells handcrafted titanium bicycle frames and complete bicycles, including gravel, mountain and road models, as well as related bicycle parts and merchandise. The company, based in Chattanooga, Tennessee, serves cyclists seeking titanium bicycles and components for performance, durability and recreational riding. Lynskey Performance Designs LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Tenn. Case No. 26-11156) on April 30, 2026. In its petition, the Debtor reports debts ranging from $1 million to $10 million while estimating assets at no more than $50,000. Honorable Bankruptcy Judge Nicholas W. Whittenburg handles the case. The Debtor is represented by W. Thomas Bible, Jr., Esq., at OM Bible Law. MALO ES NA: Seeks to Tap Antoan Figueroa Hernandez as Legal Counsel ------------------------------------------------------------------- Malo Es Na Corp. seeks approval from the U.S. Bankruptcy Court for the District of Puerto Rico to employ Antoan Figueroa Hernandez, Esq., an attorney practicing at Rincon, Puerto Rico, as counsel. The attorney's services include: (a) examine documents of the Debtor and other necessary information to submit Schedules and Statement of Financial Affairs; (b) prepare the Disclosure Statement, Plan of Reorganization, records and reports as required by the Bankruptcy Code and the Federal Rules of Bankruptcy Procedure; (c) prepare applications and proposed orders to be submitted to the Court; (d) identify and prosecute claims and causes of action assertable by the Debtor-in-Possession on behalf of the estate herein; (e) examine proof of claims filed and to be filed in the case herein and the possible objections to certain of such claims; (f) advise the Debtor and prepare documents in connection with the ongoing operation of its business; (g) advise the Debtor and prepare documents in connection with the liquidation of the assets of the estate, if needed; (h) assist and advise the Debtor in the discharge of any and all the duties imposed by the applicable dispositions of the Bankruptcy Code and the Federal Rules of Bankruptcy Procedure. Mr. Figueroa Hernandez will be paid at his hourly rate of $250 plus expenses. The attorney received a retainer of $25,000 from the Debtor. Mr. Figueroa Hernandez disclosed in a court filing that he is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The attorney can be reached at: Antoan Figueroa Hernandez, Esq. P.O. Box 212 Rincon, PR 00677 Telephone: (787) 500-4517 Email: lic.figueroa@prquiebra.com About Malo Es Na Corp. Malo Es Na Corp. is a Puerto Rico-based corporation. Public filings provide limited details regarding the company's operations, but it conducts business as a corporate entity organized under Puerto Rico law. Malo Es Na Corp. sought relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.P.R. Case No. 26-02237) on May 16, 2026. In its petition, the Debtor reported estimated assets of up to $100,000 and estimated liabilities of up to $1 million. The Debtor is represented by Antoan Figueroa Hernandez, Esq. MARYLAND HEALTH: Court Extends Cash Collateral Access to Sept. 27 ----------------------------------------------------------------- Maryland Health Alliance, Inc. received another extension from the U.S. Bankruptcy Court for the District of Maryland, Greenbelt Division, to use cash collateral to fund operations. The court extended the Debtor's authority to use cash collateral from June 28 through September 27 to pay business expenses in accordance with its updated 13-week budget, subject to a 10% variance. The order recognizes that substantially all of the debtor's cash and operating proceeds constitute cash collateral and identifies the prepetition secured parties as First Savings Bank (FSB), the Internal Revenue Service, Pinnacle Business Funding, LLC, and Parkside Funding Group, LLC. As adequate protection, First Savings Bank and other pre-bankruptcy secured creditors will be granted replacement liens on substantially all post-petition property of the Debtor, excluding Chapter 5 causes of action and any property subject to the carveout. In addition, First Savings Bank will continue to receive a monthly payment of $2,500. Additionally, the automatic stay is modified only as needed to implement the order, while all parties retain their legal rights and claims. The court emphasized that the Debtor acted in good faith and that the continued use of cash collateral reflects sound business judgment. The order remains effective immediately and preserves the rights of both the debtor and secured creditors. If the debtor seeks authority to use cash collateral beyond September 27, 2026, it must file a proposed budget and order by August 28, 2026. Objections are due by September 11, 2026, and a hearing on continued cash collateral use is scheduled for September 24, 2026. A copy of the interim order and the Debtor's budget is available at https://shorturl.at/VCEPq from PacerMonitor.com. Substantially all of the Debtor's cash, including amounts on deposit in bank accounts and proceeds from operations, constitutes proceeds of collateral and therefore cash collateral. The creditors that have or may have an interest in the cash collateral include First Savings Bank, Pinnacle Business Funding, LLC, Parkside Funding Group, LLC and the Internal Revenue Service. First Savings Bank is represented by: Paulina Garga-Chmiel, Esq. 10 South Wacker Drive, Suite 2300 Chicago, IL 60606 Direct: 312-627-5662 Mobile: 224-595-2366 Fax: 866-561-3142 PGarga@dykema.com Parkside Funding Group is represented by: Shanna M. Kaminski, Esq. Kaminski Law, PLLC P.O. Box 247 Grass Lake, MI 49240 Phone: (248) 462-7111 skaminski@kaminskilawpllc.com About Maryland Health Alliance Inc. Maryland Health Alliance Inc. operates as an outpatient mental health practice providing counseling and rehabilitation services to individuals and families in Maryland. The organization offers group therapy and psychiatric rehabilitation programs with an emphasis on culturally competent care and community engagement. It focuses on promoting personal growth, family well-being, and holistic approaches to mental health within the communities it serves. Maryland Health Alliance Inc. in Greenbelt, MD, sought relief under Chapter 11 of the Bankruptcy Code filed its voluntary petition for Chapter 11 protection (Bankr. D. Md. Case No. 25-19411) on Oct. 8, 2025, listing $500,000 to $1 million in assets and $1 million to $10 million in liabilities. Corey A. Williams as president, signed the petition. Steiner Law Group, LLC serves as the Debtor's bankruptcy counsel. MBK HOLDINGS: D. Adelsperger Named Successor Subchapter V Trustee ----------------------------------------------------------------- The Acting U.S. Trustee for Region 10 appointed Douglas Adelsperger, Esq., as successor Subchapter V trustee for MBK Holdings, Inc. Mr. Adelsperger 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. Adelsperger declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Douglas R. Adelsperger, Trustee 1251 N. Eddy St., Suite 200 South Bend, IN 46617 Tel: (260) 407-0909 Email: trustee@adelspergerlawoffices.com About MBK Holdings Inc. MBK Holdings, Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ind. Case No. 25-31964) on December 15, 2025, with $500,001 to $1 million in both assets and liabilities. Judge Paul E. Singleton presides over the case. John R. Humphrey, Esq., represents the Debtor as legal counsel. METALWORKING LUBRICANTS: Taps Steinberg Shapiro & Clark as Counsel ------------------------------------------------------------------ Metalworking Lubricants Company seeks approval from the U.S. Bankruptcy Court for the Eastern District of Michigan to employ Steinberg Shapiro & Clark to handle its Chapter 11 case. The firm's counsel and staff will be paid at these hourly rates: Mark Shapiro, Attorney $500 Tracy Clark, Attorney $450 On April 22, 2025, the firm received a retainer of $75,000 from the Debtor. Mr. Shapiro Hernandez 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: Mark H. Shapiro, Esq. Steinberg Shapiro & Clark 25925 Telegraph Road, Suite 203 Southfield, MI 48033 Telephone: (248) 352-4700 Email: shapiro@steinbergshapiro.com About Metalworking Lubricants Company Metalworking Lubricants Company is a manufacturer and marketer of lubricant-related products with operations in Pontiac, Michigan and Indianapolis, Indiana. The company designs, manufactures, and markets products including cutting oils, industrial oils, greases, lubricants, cleaners, quenching fluids, and rust inhibitors. Its Pontiac facility houses corporate headquarters, laboratory operations for research, development, and quality control, and finished product blending operations. The Indianapolis facility conducts TSDF-related operations including waste oil processing, waste water treatment, and finished product blending. Metalworking Lubricants Company sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Mich. Case No. 26-46501) on June 5, 2026. In the petition signed by Keith Johnson, co-president, the Debtor disclosed $6,094,715 in total assets and $7,496,898 in total liabilities. Judge Lisa S. Gretchko oversees the case. Mark H. Shapiro, Esq., at Steinberg Shapiro & Clark represents the Debtor as counsel. MIRA PHARMACEUTICALS: Submits Ketamir-2 Trial Plan -------------------------------------------------- MIRA Pharmaceuticals, Inc. submitted a Phase 2a clinical trial protocol to the U.S. Food and Drug Administration for Ketamir-2 in chemotherapy-induced peripheral neuropathy, according to a Form 8-K. The company said it received an FDA acknowledgment of receipt confirming acceptance of the protocol submission for Protocol Mira-002. The planned study is a randomized, double-blind, placebo-controlled, three-period crossover trial evaluating oral Ketamir-2 in patients with moderate-to-severe persistent chemotherapy-induced peripheral neuropathy at a leading U.S. cancer center. Patients would receive 300 milligrams or 600 milligrams of Ketamir-2, or matching placebo, across three sequential seven-day treatment periods separated by a two-week washout. The study's primary objectives are to evaluate safety and tolerability at both dose levels and assess dose response based on change from baseline in weekly mean 11-point pain scores. Secondary objectives include 30% and 50% pain-reduction measures, symptom and functional-status changes and central nervous system pharmacodynamic effects. MIRA said the submission builds on a completed Phase 1 study in 56 healthy volunteers, in which no serious adverse events or dose-limiting toxicities were observed. Ketamir-2 has not been approved by the FDA for any indication, and its safety and efficacy have not been established. About MIRA Pharmaceuticals MIRA Pharmaceuticals, Inc. is as a clinical-stage pharmaceutical development company focused on novel oral small-molecule therapeutics for neurologic, neuropsychiatric, metabolic and inflammatory disorders. Its product pipeline includes Ketamir-2, MIRA-55 and SKNY-1. Ketamir-2 is a next-generation oral NMDA receptor modulator being advanced toward Phase 2a studies for neuropathic pain, while MIRA-55 and SKNY-1 are preclinical-stage candidates for inflammatory pain, metabolic and behavioral conditions. In an audit report dated March 31, 2026, Salberg & Company, P.A. included a going concern qualification, stating that the company used about $4.60 million of cash in operations and incurred a $10.40 million net loss during the year ended Dec. 31, 2025. The conditions raised substantial doubt about the company's ability to continue as a going concern. As of March 31, 2026, the company reported total assets of $9.46 million, total liabilities of $0.11 million and total stockholders' equity of $9.35 million. MIRACLE TEMPLE: Angela Shortall Named Subchapter V Trustee ---------------------------------------------------------- The Acting U.S. Trustee for Region 4 appointed Angela Shortall of Cubed Advisory Services, LLC as Subchapter V trustee for Miracle Temple Non-Denominational Church Inc. 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 Miracle Temple Non-Denominational Church Inc. Miracle Temple Non-Denominational Church Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.D.C. Case No. 26-00310) on June 14, 2026, with $1,000,001 to $10 million in assets and liabilities. Judge Elizabeth L. Gunn presides over the case. Joseph Selba, Esq. at Tydings & Rosenberg LLP represents the Debtor as legal counsel. MIS ACQUISITION: Fitch Rates Proposed $955 Million Loans 'BB-' -------------------------------------------------------------- Fitch Ratings has assigned a 'BB-' rating with a Recovery Rating of 'RR2' to MIS Acquisition, LLC's proposed $775 million first-out, first lien term loan B and $180 million revolving credit facility. Together with a $250 million second-out tranche, these will replace the existing first lien debt. Fitch will withdraw the existing facilities' ratings at transaction close. Fitch has affirmed the 'B' Long-Term Issuer Default Ratings (IDRs) of MIS Intermediate, LLC and subsidiary MIS Acquisition, LLC (d/b/a and together referred to as Pellera). The Rating Outlook is Stable. The 'B' IDR and Stable Outlook reflect Fitch's expectation that Pellera will maintain moderately high leverage as it uses its scaled platform — following the 2025 merger of Mainline Information Systems and Converge Technology Solutions — to pursue organic and inorganic growth. The merger has produced a stable, diversified client base with meaningful exposure to the fast-growing data center market. However, weak pricing power constrains profitability. Key Rating Drivers Moderately High Leverage: Fitch forecasts Pellera's leverage in the low 4x area in 2026, improving from the mid-5x area due to continued synergy realization and the repayment of approximately $70 million of debt as part of the proposed refinancing. Over time, leverage could increase from current levels as the company pursues M&A to further scale the platform. Fitch expects Pellera to generally maintain EBITDA leverage in the mid-5x area. Pellera uses supply chain and channel financing for a portion of its payables, which reduces working capital needs and supports liquidity. Fitch treats the estimated portion of these arrangements extending beyond 60 days — viewed as normal sector payable terms — as debt. Management has also negotiated favorable payment terms on its distributor agreements, and a recent five-year contracted arrangement materially extended payable days, generating a free cash flow benefit. While Fitch does not adjust debt for this extension, it does qualitatively consider the risk that payable terms could normalize under a stress scenario, reversing the benefit and potentially pressuring liquidity. Constrained Market Position: Pellera is an IT solutions provider competing against larger, more established peers which limits its ability to differentiate and exercise pricing power. While the Converge/Mainline merger has improved scale and broadened its market presence, Fitch does not view this as sufficient to materially strengthen the company's position in the value chain. Nearly two-thirds of gross profit comes from data-center-related resale and services work, where competition is strong and value-add is relatively limited. As a result, Pellera remains pressured by both large suppliers and customers with multiple alternatives, contributing to EBITDA margins of about 5%-6%. Positive Free Cash Flow: Fitch expects Pellera to generate consistently positive FCF through its forecast. Capex requirements are low, and the company appears to be managing its working capital requirements well. Pellera's new distributor agreement meaningfully extends payment terms, which should generate significant cash inflows in 2026. Stable, positive FCF supports the rating and gives the company the flexibility to reduce debt if it chooses. Growing End-Market Demand: Fitch expects demand for IT solutions and services to remain supported by enterprise spending on digital infrastructure, cybersecurity, hybrid cloud, data, managed services, and broader technology modernization. Pellera's gross profit remains concentrated in digital infrastructure including data center hardware and related services, which should continue to benefit from ongoing IT investment and rising AI-related workload needs. The company also has exposure to faster-growing, higher-value segments which could gradually improve its business mix, pricing power, and operating profile. Stable and Diversified Client Base: Pellera has a stable, diversified base of over 4,500 customers and strong relationships with original equipment manufacturers, including International Business Machines Corporation (IBM; A-/Stable/F1), Dell Technologies Inc. (Dell; BBB+/Stable/F2), Cisco and Hewlett Packard Enterprise Company (HPE; BBB+/Stable/F2). The customer base tends to be sticky, which is a credit positive. Pellera's customer relationships provide an opportunity for higher growth if it can capture more higher-value IT services. Peer Analysis Pellera's closest Fitch-rated competitors are CDW Corporation (BBB-/Stable), Kyndryl Holdings, Inc. (BBB/Rating Watch Negative), and DXC Technology Company (BBB-/Stable/F3) which overlap across infrastructure solutions, services, and managed offerings. Pellera is materially smaller than these companies and has weaker profitability, higher leverage, and lower interest coverage. Other peers include Fitch-rated IT distributors such as TD SYNNEX Corporation (BBB-/Stable), Arrow Electronics, Inc. (BBB-/Stable/F3), and Ingram Micro Holding Corporation (BB/Stable). These companies are substantially larger than Pellera and generally have lower leverage, although their profitability is somewhat weaker. Fitch’s Key Rating-Case Assumptions - Revenue growth moderates slightly in 2026, followed by stronger growth in 2027 and beyond, driven by annual organic growth of approximately 3% and supplemented by meaningful assumed acquisitions, resulting in high single-digit revenue growth; - EBITDA margin is assumed to remain around 6% throughout the forecast period; - The proposed refinancing is assumed to be completed in mid-2026, with Pellera issuing new debt to fully fund acquisitions in 2027 and subsequent years, resulting in leverage in the mid-5x range; - Significant working capital inflow in 2026, driven by a release in accounts payable following the recent distributor agreement which provides for extended payment terms; - The debt adjustment related to channel and supply chain financing is assumed to remain unchanged from the level of less than $100 million as of Dec. 31, 2025; - Cash taxes are assumed at 22%; - Capex is assumed at 0.2%-0.3% of revenue; - Cash dividends are assumed beginning in 2027. 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 (b+, Higher), diversification and asset quality (bb+, Moderate), company operational characteristics (bb+, Lower), profitability (b+, Moderate), financial structure (b, Higher), and financial flexibility (bb-, Moderate). - The quantitative financial subfactors are based on custom CRT financial period parameters: 33% weight for the forecast year 2026, 34% for the forecast year 2027 and 33% for the forecast year 2028. - 'B+' to 'CC' considerations apply in its analysis and have no impact. - The Governance assessment of 'good' has no impact. - The Operating Environment assessment of 'aa-' has no impact. - The calibration adjustment applies and results in an adjustment of -1 notch. - The SCP is 'b'. To derive the Long-Term IDR: - Fitch made no adjustments to the SCP, resulting in an IDR of 'B'. Recovery Analysis Fitch assumes that Pellera would be reorganized as a going concern (GC) in bankruptcy rather than liquidated. Fitch has also assumed a 10% administrative claim. The $180 million revolver is fully drawn and the secured priority claim $235 million channel financing facility is partly utilized. GC Approach Fitch projects a GC EBITDA of $180 million, representing a sustainable, post-reorganization EBITDA level upon which Fitch bases the enterprise valuation. Fitch assumes a hypothetical scenario whereby prolonged macroeconomic challenges lead to increased competition and margin compression, ultimately necessitating a restructuring. Following a period of renewal, Fitch assumes that revenue stabilizes at approximately $4 billion, with an EBITDA margin of about 4.5%, culminating in the $180 million GC EBITDA estimate. Fitch applies a GC recovery multiple of 6.0x to the GC EBITDA to calculate the post-reorganization enterprise value. This multiple is supported by Pellera's growth prospects, scaled market position, and large and diversified customer base, which are partly offset by weak profitability and limited competitive advantage. The following factors further support the multiple: - Historic bankruptcy emergence multiples: The median reorganization EV/EBITDA multiple for the 85 telecom, media and technology reorganizations covered in Fitch's "Telecom, Media and Technology Bankruptcy Enterprise Values and Creditor Recoveries: 2025" report was 5.9x, with most multiples in the 4.0x-7.0x area and technology at 5.4x. - Publicly traded peers generally trade at 7x or higher, while acquisitions in the space have typically been completed at higher multiples. After deducting administrative claims and priority debt claims, the enterprise value available for distribution to creditors is $805 million. This results in a first lien, first-out Recovery Rating of 'RR2' and 'BB-' issue-level ratings, two notches above Pellera's IDR, on the revolver and first-out term loan. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade - EBITDA leverage sustained above 5.5x; - Any erosion in the business demonstrated by revenue declines or EBITDA margin compression; - Capital allocation that aggressively takes cash out of the business for equity holders without any debt repayment. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade - Fitch's expectation that EBITDA leverage will be sustained below 4.5x; - Strong operating performance demonstrated by organic revenue growth greater than 4% or EBITDA margin expansion; - Any debt reduction, including limiting the use of the channel financing facility. Liquidity and Debt Structure Pellera's liquidity should remain adequate. Pro forma for the refinancing, Fitch expects the company to maintain more than $250 million of cash and cash equivalents and over $150 million of availability under its revolving credit facility, net of outstanding letters of credit. Fitch also expects Pellera to generate meaningful FCF over the forecast period, further supporting liquidity. That said, in a stress scenario, currently extended days payable could normalize, potentially resulting in a significant cash outflow of up to $250 million or more. Pellera's revolving credit facility will mature four years after the refinancing closes, while the term loans will mature after five years. The first-out term loan is expected to amortize at 3% annually, beginning after the first payment period. The $235 million secured channel financing facility will renew annually unless terminated with at least 60 days' written notice prior to the renewal date. Issuer Profile Pellera distributes IT hardware and software on behalf of OEMs and provides related services to end clients. MACROECONOMIC ASSUMPTIONS AND SECTOR FORECASTS Fitch's latest quarterly Global Corporates Sector Forecasts Monitor data file which aggregates key data points used in its credit analysis. Fitch's macroeconomic forecasts, commodity price assumptions, default rate forecasts, sector key performance indicators and sector-level forecasts are among the data items included. Climate Vulnerability Signals The results of its Climate.VS screener did not indicate an elevated risk for Pellera. 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 ----------- ------ -------- ----- MIS Acquisition, LLC LT IDR B Affirmed B senior secured LT BB- New Rating RR2 MIS Intermediate, LLC LT IDR B Affirmed B MODIVCARE INC: Court Rejects Bid to Stay Escrow Order on Appeal --------------------------------------------------------------- Clara Geoghegan of Law360 Bankruptcy Authority reports that a court has rejected a request to stay an escrow order during the pendency of an appeal, effectively allowing the order to remain in force. The ruling ensures that the escrow requirements continue without interruption. The appellant contended that the escrow should be suspended until appellate review is complete, citing concerns over potential financial and procedural harm. The court disagreed, finding no adequate basis to delay enforcement. The decision preserves the status quo established by the lower court, leaving the escrowed funds subject to ongoing judicial oversight during the appeal, the report relays. About Modivcare Inc. ModivCare Inc. is a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions for public and private payors and their members. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90309) on August 20, 2025. In the petition signed by Chad J. Shandler, chief transformation officer, the Debtor disclosed up to $10 billion in both assets and liabilities. Judge Alfredo R. Perez oversees the case. Timothy A. Davidson II, Esq., at Hunton Andrews Kurth LLP, represents the Debtor as legal counsel. MOMONA PROPERTIES: Seeks to Hire McNamee Hosea as General Counsel ----------------------------------------------------------------- Momona Properties, LLC seeks approval from the U.S. Bankruptcy Court for the District of Maryland to employ McNamee Hosea, PA as counsel. The firm will provide these services: (a) provide the Debtor legal advice with respect to its powers and duties and in the operation of its business and management of its property; (b) prepare any necessary legal papers, and appear on the Debtor's behalf in proceedings instituted by or against it; (c) assist the Debtor in the process of selling its property and/or the confirmation of a plan and approval of a disclosure statement; (d) assist the Debtor with other legal matters; and (e) perform all of the legal services for the Debtor that may be necessary or desirable herein. On May 22, 2026, the firm was provided a $7,000 retainer as security for its fees and expenses in this case. Justin Fasano, Esq., an attorney at McNamee Hosea, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Justin P. Fasano, Esq. McNamee Hosea, PA 6404 Ivy Lane, Suite 820 Greenbelt, MD 20770 Telephone: (301) 441-2420 Email: jfasano@mhlawyers.com About Momona Properties LLC Momona Properties, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Md. Case No. 26-15529) on May 25, 2026, listing under $1 million in both assets and liabilities. The Debtor is represented by Justin P. Fasano, Esq., at McNamee Hosea, PA. MORE THAN A PRINTER: Court OKs $250K Interim DIP Loan From Aspen ---------------------------------------------------------------- More Than a Printer, Inc. received interim approval from the U.S. Bankruptcy Court for the Western District of Kentucky to obtain debtor-in-possession financing to get through bankruptcy. The court entered an interim order authorizing the Debtor to obtain $250,000 in post-petition senior secured DIP financing from Aspen Rhodes Capital, LLC. The DIP facility establishes a senior secured, superpriority status that will prime the Debtor's sole pre-petition secured lender, SDH Ventures, LLC. SDH currently holds a first-priority blanket security interest on all of the Debtor's assets, securing a debt totaling $402,500 that is currently on a month-to-month extension. To secure the Debtor's obligations under the DIP facility, Aspen will have a superpriority lien on the Debtor's assets, including funds loaned under the DIP facility. Meanwhile, SDH will have a lien on the Debtor's assets including receivables subordinate to the lien of the DIP lender. The liens granted to both lenders are subject to the carveout for the Debtor's professional fees, Subchapter V trustee fees, and Chapter 5 causes of action and the proceeds thereof. The Debtor believes that its post-petition accounts receivable will be more than adequate to fully repay both lenders. The order is available at https://is.gd/9E7n4L from PacerMonitor.com. The court scheduled a final hearing for July 14 and set a July 7 deadline for filing objections. Operating out of Louisville, Kentucky, under the leadership of CEO and co-shareholder Michael Foley, More Than a Printer has been in a pre-revenue startup phase since its Chapter 11 filing on March 13. While Mr. Foley has successfully procured $12 million in printing service contracts and acquired significant machinery since the filing, the Debtor currently suffers from critical liquidity constraints and rental arrearages that prevent it from making its equipment operational. Because of its lack of operational history, the Debtor cannot secure commercially reasonable unsecured or junior financing. About More Than a Printer Inc. More Than a Printer, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Ky. Case No. 26-30664) on March 13, 2026, listing up to $50,000 in assets and up to $1 million in liabilities. Judge Joan A. Lloyd oversees the case. The Debtor tapped Michael W. McClain, Esq., at McClain Law Group, PLLC as counsel. MOUNTAIN REGIONAL: Plan Exclusivity Period Extended to July 16 -------------------------------------------------------------- Judge Michael F. Thomson of the U.S. Bankruptcy Court for the District of Utah extended Mountain Regional Equipment Solutions, LLC and MRES Holdings, LLC's exclusive periods to file a plan of reorganization and obtain acceptance thereof to July 16 and Sept. 16, 2026, respectively. As shared by Troubled Company Reporter, this Motion is the Debtors' third request for an extension of the Plan Period. It cannot be reasonably asserted that the companies are seeking an extension of the Plan Period to unfairly prejudice or pressure the Debtors' creditors. Instead, the extension requested by the Debtors is an exercise of prudent business judgment and an attempt to have adequate time to negotiate terms with secured creditor and other creditors of the estate. In sum, the requested extension of the Plan Period will facilitate the Debtors' efforts to maximize the value of their estates by providing the Debtors with a full and fair opportunity to seek acceptance of their Plans. The Debtors submit that the extension requested herein will increase the likelihood of a greater distribution to creditors than would be possible if the Debtors were required to seek confirmation without additional time to finalize acceptance of the plan with key creditors. Counsel to the Debtors: Jeffrey L. Trousdale, Esq. Cohne Kinghorn, P.C. 111 E. Broadway Eleventh Floor Salt Lake City, UT 84111 Telephone: (801) 363-4300 Facsimile: (801) 363-4378 Email: jtrousdale@ck.law Cameron M. McCord, Esq. JONES & WALDEN LLC 699 Piedmont Ave. NE Atlanta, GA 30308 Phone: (404) 564-9300 Email: cmccord@joneswalden.com About Mountain Regional Equipment Solutions Mountain Regional Equipment Solutions, LLC, supplies and services automated lubrication systems, safety systems, and maintenance products used in heavy mobile equipment and industrial machinery. It serves customers across construction, mining, transportation, agriculture, and industrial markets, with operations based in Salt Lake City, Utah. Mountain Regional Equipment Solutions sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Utah Case No. 25-27678) on Dec. 19, 2025, listing between $1 million and $10 million in assets and between $10 million and $50 million in liabilities. Todd Miceli, manager, signed the petition. Jeffrey L. Trousdale, at Cohne Kinghorn, P.C., is the Debtor's legal counsel. MUNAWAR LAW: Has Deal on Cash Collateral Access ----------------------------------------------- Lori Lapin Jones, Esq., the Chapter 11 trustee for Munawar Law Group, PLLC, asks the U.S. Bankruptcy Court for the Southern District of New York, to approve a stipulation with secured lender Equal Access Justice Fund, LP on the continued use of cash collateral through July 31. EAJF asserts a first-priority security interest in substantially all of the Debtor's assets, including cash collateral, based on a prepetition loan of approximately $6.6 million secured by a 2023 UCC-1 filing. Under the proposed stipulation, the Trustee is authorized to use cash collateral from April 27 through July 31 for routine operating expenses such as payroll, payroll taxes, rent, insurance, case administration costs, U.S. Trustee fees, and limited professional services, including $300 per month for payroll processing services. In exchange, EAJF receives multiple forms of adequate protection: a replacement post-petition lien on similar types of property as its prepetition collateral, to the extent of any diminution in value; and monthly adequate protection payments of $4,000 beginning retroactively on May 1 through July 31, subject to adjustment if cash flow is insufficient, with any payment shortfall not constituting a default so long as parties negotiate in good faith. The replacement lien attaches automatically upon court approval and is enforceable against the estate and successors, subject to standard statutory carve-outs, including avoidance actions and estate recoveries excluded from the lien grant. The stipulation also restricts use of cash collateral, expressly prohibiting its use for trustee commissions (other than bond premiums) and for compensation of estate professionals, the examiner, or related counsel. It further provides that default events include case dismissal, conversion to Chapter 7, relief from stay affecting EAJF's collateral, or termination of the order, though these provisions may be waived by EAJF. A court hearing is scheduled for June 30. A copy of the motion is available at https://urlcurt.com/u?l=fqoCUv from PacerMonitor.com. About Munawar Law Group PLLC Munawar Law Group PLLC is operating as a legal services firm with offices in New York City and Jericho, New York. Munawar Law Group PLLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 25-10020) on January 7, 2025. In its petition, the Debtor reports estimated assets between $100,000 and $500,000 and estimated liabilities between $1 million and $10 million. Honorable Bankruptcy Judge David S. Jones handles the case. The Debtor tapped Ronald D. Weiss, Esq., as counsel and MI Tax LLC as accountants. On April 26, 2026, Lori Lapin Jones, Esq., was appointed by the U.S. Trustee as Chapter 11 trustee of the Debtor's estate. The trustee tapped LaMonica Herbst & Maniscalco, LLP as counsel and Prager Metis CPAs LLC as accountant. MUTINY BBQ: Seeks to Hire I. Mark Cohen Law Group as Legal Counsel ------------------------------------------------------------------ Mutiny BBQ Company LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to employ I. Mark Cohen Law Group to handle its Chapter 11 case. The firm will be paid at these hourly rates: Attorney $575 Paralegal $250 The firm also requires a retainer of $15,000 from the Debtor. Jonathan Goldsmith Cohen, Esq., an attorney at I. Mark Cohen Law Group, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Jonathan Goldsmith Cohen, Esq. I. Mark Cohen Law Group 1 Executive Drive, Suite 6 Tinton Falls, NJ 07701 Telephone: (732) 741-9500 Facsimile: (732) 741-0226 Email: jgc@imclawgroup.com About Mutiny BBQ Company LLC Mutiny BBQ Company LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 26-14759) on April 29, 2026, listing under $1 million in both assets and liabilities. Judge Eamonn James O'Hagan oversees the case. The Debtor is represented by Jonathan Goldsmith Cohen, Esq., at I. Mark Cohen Law Group. NANO PHARMACEUTICAL: Gets Final OK to Use Cash Collateral --------------------------------------------------------- Nano Pharmaceutical Laboratories, LLC received final approval from the U.S. Bankruptcy Court for the District of Colorado to use cash collateral through Dec. 31 to fund its operations. Under the final order, the Debtor is authorized to use cash collateral only in accordance with an approved budget, with individual line-item variances limited to 10% unless otherwise approved by the court and its lender, Newtek Small Business Finance, LLC. The Debtor must also maintain at least 90% of budgeted revenue on a rolling three-month basis. The Debtor acknowledged the lender's valid, perfected liens on substantially all of its assets. As adequate protection, Newtek was granted replacement liens on the Debtor's post-petition assets and proceeds, excluding Chapter 5 avoidance actions. The Debtor also agreed to maintain the lender's collateral in good condition; keep the collateral insured; provide monthly financial reporting and budget-to-actual variance reports; and pay the lender $1,500 per month through August, increasing to $2,500 per month from September through December. The authority to use cash collateral will terminate upon the earliest of Dec. 31, appointment of a trustee, dismissal or conversion of the bankruptcy case, removal of Nano as debtor-in-possession, uncured payment or reporting defaults, failure to comply with the budget and revenue requirements, or a material adverse change in business operations. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/S7Cnz from PacerMonitor.com. About Nano Pharmaceutical Laboratories LLC Nano Pharmaceutical Laboratories, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Colo. Case No. 26-13415) on May 14, 2026, with assets of between $50,001 and $100,000 and liabilities of between $1 million and $10 million. Jonathan Dickey serves as Subchapter V trustee for the Debtor. Judge Michael E. Romero oversees the case. Aaron A. Garber, Esq., at Wadsworth Garber Warner Conrardy, P.C. is the Debtor's legal counsel. NASH ENGINEERING: Court Lifts Ch. 11 Stay of Asbestos Suit ---------------------------------------------------------- Brian Steele of Law360 Bankruptcy Authority reports that a Connecticut federal judge on Monday, June 22, 2026, granted a motion to lift the automatic bankruptcy stay that had frozen an asbestos indemnification lawsuit involving Nash Engineering Co. since October 2021. The ruling was issued after a joint request from the bankrupt entity and other involved parties. The litigation concerns insurers' efforts to resolve coverage disputes tied to asbestos-related claims arising from Nash Engineering's historical operations. The case had remained dormant due to bankruptcy protections. With the stay removed, the lawsuit may now proceed in federal court, allowing the parties to litigate outstanding questions over insurance coverage and liability allocation, the report states. About Nash Engineering Co. Nash Engineering Co. is a Connecticut pump manufacturer. Nash Engineering Co. sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. D. Conn. Case No. 21-50644) on Oct. 19, 2021. Bankruptcy Judge Julie A. Manning handles the case. NETCAPITAL INC: Closes FirstFire Financing, Nets $224,500 in Cash ----------------------------------------------------------------- Netcapital Inc. announced in a regulatory filing that it closed the transactions contemplated by a Securities Purchase Agreement, dated as of June 9, 2026, with FirstFire Global Opportunities Fund, LLC, a Delaware limited liability company. The transaction closed upon the Company's receipt of the purchase price, and the Company issued and delivered to FirstFire a promissory note dated June 9, 2026 in the principal amount of $290,000 and a common stock purchase warrant dated June 9, 2026 to purchase 250,000 shares of the Company's common stock, par value $0.001 per share, at an initial exercise price of $0.50 per share. The Note was issued for a purchase price of $250,000 and reflects an original issue discount of $40,000. At the closing, FirstFire withheld $6,500 from the purchase price to cover FirstFire's legal fees, $1,500 to be paid to FirstFire Capital Management, LLC to cover due diligence costs, and $17,500 to cover fees owed by the Company to Enclave Capital LLC, a registered broker-dealer acting as placement agent. Accordingly, the Company received net cash proceeds of $224,500. The Note includes a one-time interest charge of 12% of the principal amount, or $34,800, earned in full as of June 9, 2026. The Note is an unsecured obligation of the Company and matures on June 9, 2027. The Company is required to make amortization payments beginning December 9, 2026, consisting of an initial payment of $162,400, followed by five payments of $27,066.66 on January 9, 2027, February 9, 2027, March 9, 2027, April 9, 2027 and May 9, 2027, with all remaining outstanding amounts due on June 9, 2027. Each amortization payment first reduces accrued and unpaid interest and then reduces the outstanding principal balance of the Note. The Note may be prepaid at any time before the 181st calendar day following June 9, 2026 upon three trading days' prior written notice to the holder. The required prepayment amount equals the applicable prepayment percentage multiplied by the then-outstanding principal amount plus the applicable prepayment percentage multiplied by accrued and unpaid interest: 96% during the period beginning on June 9, 2026 and ending 90 calendar days thereafter, 97% during the period beginning 91 calendar days after June 9, 2026 and ending 150 calendar days thereafter, and 98% during the period beginning 151 calendar days after June 9, 2026 and ending 180 calendar days thereafter. Amounts not paid when due bear default interest at the lesser of 22% per annum and the maximum amount permitted by law. The Note becomes convertible at the holder's option upon the earliest of: (i) the Company's failure to pay an amortization payment when due, (ii) the date that is 180 calendar days after June 9, 2026, or (iii) the date that any conversion shares are registered for resale pursuant to a registration statement or prospectus filed by the Company. The conversion price is 75% of the lowest closing bid price of the Company's common stock during the ten trading days immediately preceding the applicable conversion date, subject to a floor price of $0.10 per share. The floor price does not apply on or after an event of default. The Note contains a 4.99% beneficial ownership limitation, which the holder may increase or decrease upon notice to the Company, provided that the limitation may not exceed 9.99% and an increase is not effective until the 61st day after notice. The Warrant is exercisable beginning December 9, 2026, and expires at 5:00 p.m., New York City time, on June 9, 2029. The exercise price is $0.50 per share, subject to adjustment for stock dividends, stock splits, combinations, reclassifications and similar events. If, at the time of exercise, there is no effective registration statement registering, or the prospectus contained therein is not available for, the resale of the warrant shares by the holder, the Warrant may be exercised on a cashless basis. The Warrant contains a 4.99% beneficial ownership limitation, which may be increased or decreased upon notice to the Company, subject to a maximum of 9.99% and a 61-day delay for any increase. Under the transaction documents, the aggregate number of shares of common stock that may be issued under the Note and the Warrant is limited to 1,569,579 shares unless shareholder approval is obtained, subject to adjustment and the other provisions of the transaction documents. The Purchase Agreement requires the Company to hold a special meeting of shareholders on or before 180 calendar days after June 9, 2026 for the purpose of obtaining shareholder approval in accordance with Nasdaq Rule 5635(d). The Purchase Agreement provides that the Company will use the proceeds for business development and general working capital, subject to specified restrictions. The Purchase Agreement and the Note contain customary and transaction-specific covenants, including transfer agent instructions, legal counsel opinion provisions, public information covenants, piggy-back registration rights, a requirement to purchase directors' and officers' insurance within 60 calendar days after closing, restrictions on certain capital stock distributions and asset sales, and registration-statement-related default provisions. The Note provides that an event of default occurs if the Company fails to file a registration statement covering the holder's resale of all conversion shares and warrant shares within 60 calendar days after June 9, 2026, fails to cause the registration statement to become effective within 120 calendar days after June 9, 2026, fails to keep the registration statement effective, or fails to amend or file a new registration statement if there are no longer sufficient shares registered for resale. The Note contains events of default including, without limitation, payment defaults, breach of covenants, breach of representations and warranties, failure to deliver conversion shares, bankruptcy or insolvency events, cessation of operations, failure to maintain material assets, transfer-agent-related defaults, transmission of material non-public information not cured by a same-day Form 8-K, unavailability of Rule 144, delisting, trading suspension or failure to be listed or quoted on a principal market, failure to pay an amortization payment, failure to obtain required shareholder approval within 180 calendar days after June 9, 2026, and registration statement failures. Upon an event of default, the Note becomes immediately due and payable in an amount equal to the then-outstanding principal amount plus accrued interest, including default interest, multiplied by 150%, plus costs of collection. The holder may, in its sole discretion, convert all or any portion of the Note, including the default amount, into common stock pursuant to the terms of the Note. Full text copies of the Purchase Agreement, the Note and the Warrant are available at https://tinyurl.com/2j3b8zn6, https://tinyurl.com/mr2rwdu4, and https://tinyurl.com/y9w4my45, respectively. About Netcapital Inc. Headquartered in Boston, Mass., Netcapital Inc. -- www.netcapital.com -- is a fintech company with a scalable technology platform that allows private companies to raise capital online and provides private equity investment opportunities to investors. The Company's consulting group, Netcapital Advisors, provides marketing and strategic advice and takes equity positions in select companies. The Company's funding portal, Netcapital Funding Portal, Inc. is registered with the U.S. Securities & Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA), a registered national securities' association. Spokane, Washington-based Fruci & Associates II, PLLC, the Company's auditor since 2017, issued a "going concern" qualification in its report dated August 12, 2025, attached to the Company's Annual Report on Form 10-K for the fiscal year ended April 30, 2025, citing that the Company has a negative working capital, operating losses, and negative cash flows from operations. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. As of January 31, 2026, the Company had $26.06 million in total assets, $4.46 million in total liabilities, and $21.60 million in total stockholders' equity. NEWBURY POWER: Withdraws Motion to Sell Bridgeville Property ------------------------------------------------------------ The U.S. Bankruptcy Court for the Western District of Pennsylvania, has granted Andrew R. Vara, United States Trustee for Regions 3 and 9 of Newbury Power Center A-1 LP, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor owns certain vacant real property listed on question 55.1 of Schedule A/B as 256-G-10 and 256-G-40 on Presto-Sygan Road, Bridgeville, Pennsylvania, 15017. The Property is subject to an open-end mortgage in favor of Fund Investment 154, LLC and a ground lease with Beazer East Inc. The Debtor’s sole tangible asset is the Property. As Mr. Malke testified at the 341 Meeting, the Property is an approximately seven-acre single piece of real estate, which is currently vacant. Undeveloped land held for future development can be a "single property or project." The Court has dismissed the Chapter 11 Case and the Motion to Sale is withdrawn. The Debtor shall promptly pay all outstanding United States Trustee fees. The Court retains administrative jurisdiction post-dismissal to determine approval of the fees and expenses incurred by all professionals of the Debtor (including Campbell & Levine, LLC) during this Chapter 11 Case upon the filing of final fee applications by such professionals. About Newbury Power Center A-1 Newbury Power Center A-1, LP's primary holding is a residential property located at 1263 Newbury Highland in Bridgeville, Pennsylvania. Newbury Power Center A-1 sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Pa. Case No. 26-20022) on January 4, 2026. At the time of the filing, the Debtor listed up to $10 million in both assets and liabilities. Brett A. Malky, managing member, signed the petition. Judge Gregory L. Taddonio oversees the case. The Debtor tapped Paul J. Cordaro, Esq., at Campbell & Levine, LLC, as counsel. NEXT LEVEL: Daniel Etlinger Named Subchapter V Trustee ------------------------------------------------------ The Acting U.S. Trustee for Region 21 appointed Daniel Etlinger of Underwood Murray, P.A. as Subchapter V trustee for Next Level Paver Company LLC. Mr. Etlinger 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. Etlinger declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Daniel E. Etlinger Underwood Murray, P.A. 100 N. Tampa Street, Suite 2325 Tampa Florida 33602 (813) 540-8401 Email: detlinger@underwoodmurray.com About Next Level Paver Company LLC Next Level Paver Company LLC is a family-owned hardscape and landscaping company based in Cape Coral, Florida. Founded in 2018, the company provides paver and travertine installation, hardscape cleaning, sealing, and restoration, as well as paver driveway, patio, and pool deck work. Its services also include paver driveway and patio repair, steps, retaining walls, and landscaping. The company serves Cape Coral, Fort Myers, Estero, Naples, and Buckingham. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-01442) on June 11, 2026, with $0 to $50,000 in assets and $1,000,001 to $10 million in liabilities. Judge Luis Ernesto Rivera II presides over the case. Michael Dal Lago, Esq., at Dal Lago Law represents the Debtor as bankruptcy counsel. OBJECT & SUBJECT: Continued Operations to Fund Plan Payments ------------------------------------------------------------ Object & Subject LLC d/b/a Ascendant Brands, filed with the U.S. Bankruptcy Court for the District of Utah a Disclosure Statement describing Plan of Reorganization dated June 12, 2026. The Debtor is a consumer product brand holding and operating company with a portfolio of six distinct brands described below. Until shortly before the Debtor's bankruptcy filing, its only significant assets were the Debtor's 100%-member interest in its six subsidiary companies. After giving effect to its pre-bankruptcy merger, the assets and the liabilities of the six subsidiary companies are now housed together in the Debtor, and all intercompany debts have been extinguished. The six former subsidiaries of the Debtor are (the "Former Subsidiaries"): Alvin Drafting, LLC, Choose Friendship, LLC, Daverly Way, LLC, Fizz, LLC (formerly known as Crayon Rocks, LLC), Promptly, LLC, and VaporEze, LLC. Through the course of its reorganization case, to date, the Debtor has taken great care to protect secured creditors' separate collateral rights. In summary, the Debtor and all of its Former Subsidiaries are responsible to pay secured debts which in the case of the Debtor and every single Former Subsidiary are greater than the sum of their assets. However, the secured creditor structure is different for two of the seven Former Subsidiaries. Through the Plan, the Debtor will maintain its existence as a going concern for the benefit of its creditors, employees, customers, contract counterparties, and its equity owner. The Debtor submits that the Plan provides for the rehabilitation of the Debtor's business in a manner consistent with the objectives of Chapter 11 of the Bankruptcy Code, and provides a fair return to creditors over time, which is a far better result than what creditors would receive through a Chapter 7 liquidation. The Plan provides that Administrative Expense Claims are generally paid in full in Cash on the later of (i) the date such Allowed Administrative Expense Claim becomes due in accordance with its terms, and (ii) the Effective Date. Holders of Administrative Expense Claims may agree to a different treatment under the Plan. If the Debtor disputes any portion of an Administrative Expense Claim, the Debtor shall pay such Claim within 30 days after the entry of a Final Order with respect to the allowance of such disputed Administrative Expense Claim. Priority Tax Claims are paid either (i) upon such terms as may be agreed to between the Debtor and such holder of an Allowed Priority Tax Claim, (ii) in full in Cash on the later of (x) the Effective Date or (y) the date that such Allowed Priority Tax Claim would have been due if the Bankruptcy Case had not been commenced, or (iii) in equal quarterly installments commencing on the Initial Distribution Date, in the amount of such Allowed Priority Tax Claim, plus interest at the rate prescribed by Bankruptcy Code Section 511, through and including the fifth anniversary of the Petition Date. The Secured Claim of CVB will be paid in full with interest at Prime Rate plus 1%. The Reorganized Debtor shall make an initial interest-only payment to CVB on January 30, 2027, for interest accruing from the Effective Date through December 31, 2026. Thereafter, commencing on July 30, 2027, and continuing on each subsequent Distribution Date through and including January 30, 2031, the Reorganized Debtor shall make payments of fixed principal plus interest at Prime Rate plus 1%, with principal in the amounts and on the dates set forth on Exhibit A to the Plan, with CVB's Secured Claim to be paid in full on January 30, 2031. The Secured Claim of Decathlon will be paid in full with interest at Prime Rate plus 1%. The Reorganized Debtor shall make an initial interest-only payment to Decathlon on January 30, 2027, for interest accruing from the Effective Date through December 31, 2026. Thereafter, commencing on July 30, 2027, and continuing on each subsequent Distribution Date through and including January 30, 2031, the Reorganized Debtor shall make payments of fixed principal plus interest at Prime Rate plus 1%, with principal in the amounts and on the dates set forth on Exhibit A to the Plan, with Decathlon's Secured Claim to be paid in full on January 30, 2031. General Unsecured Claims (which include the Claim of Clearco and also the CVB Deficiency Claim, but excluding the Decathlon Deficiency Claim) will each receive their Pro-Rata Share of the total amount of $275,000, minus the Convenience Class Distribution, plus 50% of Net Avoidance Action Recoveries, in six payments allocated as follows: (1) 10% of that amount on July 30, 2031; (2) 18% of that amount on January 30, 2032; (3) 12% of that amount on July 30, 2032; (4) 22% of that amount on January 30, 2033; (5) 14% of that amount on July 30, 2033; and (6) 24% of that amount on January 30, 2034. Holders of Convenience Claims (which are all General Unsecured Claims of a single holder of a type which would otherwise be included in Class 4 which are either (i) $3,500 or less in the aggregate; or (ii) greater than $3,500 in the aggregate but as to which the holder thereof has elected voluntarily to reduce to $3,500 by making a Convenience Class Election) will receive Cash in an amount equal to 100% of such Allowed Convenience Claim within thirty days after the Plan Effective Date, and shall receive no other distributions under this Plan on account of such Claim. Class 4 consists of General Unsecured Claims. General Unsecured Claims shall be paid through a distribution pool consisting of (i) $275,000, minus the Convenience Claim Distribution, plus (ii) 50% of Net Avoidance Action recoveries. Each holder of an Allowed General Unsecured Claim shall receive its Pro-Rata share of this total distribution pool, payable in six payments allocated as follows: (1) 10% of that amount on July 30, 2031; (2) 18% of that amount on January 30, 2032; (3) 12% of that amount on July 30, 2032; (4) 22% of that amount on January 30, 2033; (5) 14% of that amount on July 30, 2033; and (6) 24% of that amount on January 30, 2034. Class 4 is impaired under the Plan. Class 5 consists of Convenience Claims. Each holder of an Allowed Convenience Claim, in full and final satisfaction of such Claim, shall receive Cash in an amount equal to 100% of such Allowed Convenience Claim on or before thirty days after the Effective Date, and shall receive no other distributions under this Plan on account of such Claim. Class 7 consists of Equity Interests in the Debtor. Each record holder of an Equity Interest in the Debtor shall retain its interest in the Debtor; provided, however, that holders of Equity Interests will be diluted. Pursuant to the Plan, the Reorganized Debtor will continue its business operations as at present. The Debtor believes that its forecasts are reasonable and conservative. The projections attached to the Plan as Exhibit B demonstrate that the Plan is feasible. On confirmation of the Plan the Debtor will require funds necessary for payment of Administrative Expense Claims on the Effective Date of the Plan. The Debtor believes it will be able to fund these payments from its operations, although there is a risk that the Debtor's operations will not generate sufficient revenue to pay Administrative Expense Claims. The Debtor believes that there are no accrued and unpaid administrative expenses, except for the Debtor's court-approved attorneys (Cohne Kinghorn, P.C., and Trevin Workman). As of the date of this Disclosure Statement, the Debtor's attorneys have accrued and unpaid administrative expense claims totaling approximately $30,000, and they collectively hold retainer amounts of approximately $43,000. From and after the Effective Date of the Plan, the Reorganized Debtor is authorized to continue its normal business operations and enter into such transactions as it deems advisable, free of any restriction or limitation imposed under any provision of the Bankruptcy Code, except to the extent otherwise provided in the Plan. A full-text copy of the Disclosure Statement dated June 12, 2026 is available at https://urlcurt.com/u?l=dLKLmw from PacerMonitor.com at no charge. Counsel to the Debtor: George Hofmann, Esq. Cohne Kinghorn, P.C., 111 East Broadway, 11th Floor Salt Lake City, UT 84111 Tel: (801) 363-4300 About Object & Subject LLC Object & Subject LLC, doing business as Ascendant Brands, manages consumer product businesses across the U.S., focusing on brand development, product design, packaging, and supply chain operations. The Company specializes in online marketing, particularly on the Amazon marketplace, and works with brand partners and brick-and-mortar retailers to distribute their products. Ascendant Brands partners with businesses generating $500,000 to $5 million in annual revenue, offering acquisition, operational management, or investment collaboration opportunities. Object & Subject LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Utah Case No. 25-25418) on Sept. 12, 2025. In its petition, the Debtor reports estimated assets and liabilities between $1 million and $10 million each. Honorable Bankruptcy Judge Peggy Hunt handles the case. The Debtor is represented by George B. Hofmann, Esq., at Cohne Kinghorn, P.C. OLYMPIA BLOCK: Case Summary & Five Unsecured Creditors ------------------------------------------------------ Debtor: Olympia Block LLC 1190 Forest Ave. Portland, ME 04103 Business Description: Olympia Block LLC is a real estate company that owns and leases one property. Chapter 11 Petition Date: June 17, 2026 Court: United States Bankruptcy Court District of Maine Case No.: 26-20175 Judge: Hon. Peter G Cary Debtor's Counsel: Sam Anderson, Esq. BERNSTEIN SHUR SAWYER & NELSON, P.A. 100 Middle Street P.O. Box 9729 Portland ME 04101 Tel: 207-774-1200 E-mail: sanderson@bernsteinshur.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $10 million to $50 million The petition was signed by Rudolf M. Ferrante as sole member. A full-text copy of the petition, which includes a list of the Debtor's five unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/LQUXNVA/Olympia_Block_LLC__mebke-26-20175__0001.0.pdf?mcid=tGE4TAMA ONYX PORTFOLIO: Gets Extension to Access Cash Collateral -------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Texas entered a third stipulation extending Onyx Portfolio, LLC's authority to use cash collateral. Under the order, the Debtor is authorized to use cash collateral to pay expenses in the approved budget until its reorganization plan becomes effective, the Chapter 11 case is dismissed, or the case is converted to Chapter 7, whichever occurs first. The Debtor is not allowed to exceed the aggregate monthly budget without HFC Holdings 1, LLC's prior written consent, subject to a permitted 10% aggregate variance for each month. HFC will be provided with adequate protection through valid and perfected replacement and additional liens on the Debtor's cash collateral, with the same priority and extent as its pre-petition liens. These liens are subject to the carveout for professional fees, U.S. Trustee quarterly fees, clerk fees, and up to $10,000 in trustee expenses. The order contains a strict default mechanism. If the Debtor fails to meet the required sales milestones, the automatic stay will automatically terminate as to all remaining unsold properties, allowing HFC to exercise its foreclosure and other state-law remedies. The Debtor is also required under the order to amend its disclosure statement and Chapter 11 plan to incorporate the sale milestones. While HFC agreed to the Debtor's continued use of cash collateral under these terms, it reserves its rights to object to plan confirmation and to seek post-petition interest, attorneys’ fees, and costs. A copy of the court's order and the Debtor's budget is available at https://shorturl.at/Rnakd from PacerMonitor.com. HFC, as secured creditor, is represented by: Ben H. Harris, III, Esq. Jones Walker, LLP 11 N. Water St., Suite 1200 Mobile, AL 36602 Tel: (251) 432-1414 bharris@joneswalker.com About Onyx Portfolio LLC Onyx Portfolio LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Texas Case No. 26-30080) on January 5, 2026, with between $1 million and $10 million in both assets and liabilities. Judge Jeffrey P. Norman oversees the case. Susan Tran Adams, Esq., at Tran Singh, LLP is the Debtor's legal counsel. The Debtor filed a combined disclosure statement and Chapter 11 plan of reorganization on May 6, 2026. OTB HOSPITALITY: Seeks Chapter 7 Bankruptcy in Texas ---------------------------------------------------- On June 19, 2026, OTB Hospitality, LLC, doing business as On The Border Mexican Grill & Cantina, filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Southern District of Texas. According to court filings, the debtor reports between $1 million and $10 million in debt owed to between 1,000 and 5,000 creditors. About OTB Hospitality, LLC OTB Hospitality, LLC operates On The Border Mexican Grill & Cantina, a casual dining restaurant chain specializing in Tex-Mex and Mexican-inspired cuisine. The brand has operated locations across the United States and is known for its dine-in and bar-focused restaurant concept. OTB Hospitality, LLC sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-34358) on June 19, 2026. In its petition, the debtor reported estimated assets of between $100,001 and $1 million and estimated liabilities of between $1 million and $10 million. Honorable Bankruptcy Judge Jeffrey P. Norman handles the case. The debtor is represented by Thomas A. Howley of Howley Law PLLC. PALMAIRE AVE: Gets Interim OK to Use Cash Collateral ---------------------------------------------------- Palmaire Ave, LLC received interim approval from the U.S. Bankruptcy Court for the District of Arizona to use cash collateral. Under the interim order, the Debtor is authorized to use cash collateral through the date of the final hearing in accordance with its budget. The Debtor's cash collateral includes rental income that may constitute cash collateral of Citadel Servicing Corporation, doing business as Acra Lending. It receives rents from its tenant, DP Palmaire LLC, which operates a long-term care facility on the Debtor's property located in Phoenix, Arizona. The Debtor receives approximately $6,500 per month in rent from its tenant and historically paid about $5,172 per month to Citadel. The Debtor borrowed approximately $591,600 from Citadel in September 2022, secured by the property and its rental income. After falling behind on payments in 2025, Citadel initiated a trustee's sale scheduled for May 19. The bankruptcy filing was made to stop the foreclosure sale and provide an opportunity to restructure the debt through Chapter 11. As adequate protection, any creditor asserting a valid interest in the cash collateral will be granted replacement liens on the Debtor's post-petition cash collateral and related proceeds, with the same validity, priority and extent as the creditor's pre-petition lien. The order is available at https://is.gd/fd8oCZ from PacerMonitor.com. A final hearing is scheduled for June 30. About Palmaire Ave LLC Palmaire Ave LLC is a real estate holding and investment company engaged in property ownership and asset management activities. The company's operations are centered on managing real estate-related investments and commercial property interests. Palmaire Ave LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-04920) on May 18, 2026. In its petition, the debtor reports estimated assets between $100,001 and $1 million and estimated liabilities within the same range. Honorable Bankruptcy Judge in the District of Arizona handles the case. The Debtor is represented by Grant L. Cartwright, Esq. of May, Potenza, Baran & Gillespie, P.C. PCMZ NUTRA: Gets Interim OK to Use Cash Collateral -------------------------------------------------- CMZ Nutra, LLC received interim approval from the U.S. Bankruptcy Court for the Southern District of Florida to use cash collateral to fund operations. Under the interim order, the Debtor is authorized to use cash collateral based on a court-approved budget, subject to a 10% variance. The budget projects total operational expenses of $81,961.31. The Debtor's only secured creditor with collateral is BayFirst National Bank, which holds two claims totaling approximately $261,362, secured by the Debtor's assets valued at $58,500 as of the petition date. The bank perfected its security interest by filing a UCC-1 on November 23, 2023, and holds a first-priority lien. Several merchant cash advance lenders may assert secured claims; however, there are no accounts receivable, and any such claims would be wholly undersecured even if properly perfected under Florida law. These lenders include Capital on Tap ($30,833.43), DMKA, LLC ($160,000), Itria Ventures, LLC ($30,000), QFS Capital, LLC ($130,000), and WebBank ($136,560). It is unclear which entities filed UCC-1 financing statements or whether any security interests were properly perfected, as the filings appear to identify agents rather than the purported secured creditors. Under the interim order, any alleged secured creditor will receive adequate protection in the form of replacement liens on the Debtor's assets to the extent of any diminution in the value of its collateral. The replacement liens maintain the same validity and priority as any perfected pre-petition liens but do not apply to avoidance actions, including preference claims. As part of the interim relief, the Debtor is required to transfer $1,000 per month to the Subchapter V trustee by the 25th of each month to cover trustee fees. These funds remain property of the bankruptcy estate and must be held in the trustee's trust account pending further court order. The next hearing is scheduled for August 12. The order is available at https://is.gd/a3nihk from PacerMonitor.com. About PCMZ Nutra LLC PCMZ Nutra, LLC is a Lake Worth, Florida-based nutritional supplement company that sells finished sports supplement products, including goods held for resale, to fitness, wellness and sports-nutrition customers. PCMZ Nutra filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-17241) on June 1, 2026, with $50,001 to $100,000 in assets and $1 million to $10 million in liabilities. Thomas L. Abrams, Esq., represents the Debtor as legal counsel. Carol Fox of GlassRatner serves as Subchapter V trustee for the Debtor. PHUONG VO: Gets Interim OK to Use Cash Collateral ------------------------------------------------- Phuong Vo Enterprises, Inc. received interim approval from the U.S. Bankruptcy Court for the Northern District of California, San Jose Division, to use cash collateral. Under the interim order, the Debtor is authorized to use cash collateral to fund operations based on a court-approved budget, with aggregate line-item variances of up to 10%. The U.S. Small Business Administration and other secured creditors will be provided with adequate protection through replacement liens on post-petition cash collateral and related assets, with the same priority as their pre-petition liens. Additional safeguards include insurance coverage on the collateral and "adequate protection" payments to secured creditors. The interim order does not determine the validity, priority, extent, or perfection of any liens, the value of collateral, the amount of any secured claim, or the treatment of claims under a future Chapter 11 plan. The court scheduled a final hearing for July 28 and set a July 14 deadline for filing objections. The order is available at https://is.gd/YlyFZW from PacerMonitor.com. About Phuong Vo Enterprises Inc. Phuong Vo Enterprises, Inc. sought protection under U.S. Bankruptcy Code (Bankr. N.D. Calif Case No. 26-50836) on May 22, 2026. In the petition signed by Phuong Nhat Vo, chief executive officer, the Debtor disclosed up to $50,000 in assets and up to $1 million in liabilities. Judge Stephen L. Jackson oversees the case. Arasto Farsad, Esq., at Farsad Law Office, P.C., represents the Debtor as legal counsel. Christopher Hayes serves as Subchapter V trustee for the Debtor. PLEASE & THANK: Seeks to Hire Seiller Waterman as General Counsel ----------------------------------------------------------------- Please & Thank You, LLC seeks approval from the U.S. Bankruptcy Court for the Western District of Kentucky to employ Seiller Waterman LLC as counsel. The firm's services include: (a) give legal advice with respect to the Debtor's powers and duties in the continued operations of its business and management of its assets; (b) take all necessary action to protect and preserve the Debtor's estate; (c) prepare on behalf of the Debtor all necessary legal papers in connection with the administration of its estate herein; and (d) perform any and all other legal services for the Debtor in connection with this Chapter 11 case and the formulation and implementation of its Chapter 11 plan. The firm received a retainer of $30,000 from the Debtor. Neil Bordy, Esq., attorney at Seiller Waterman, 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: Neil C. Bordy, Esq. Seiller Waterman LLC Meidinger Tower, 22nd Floor 462 S. Fourth Street Louisville, KY 40202 Telephone: (502) 584-7400 Facsimile: (502) 583-2l00 Email: bordy@derbycitylaw.com About Please & Thank You LLC Please & Thank You, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Ky. Case No. 26-31515) on June 2, 2026. In the petition signed by Brooke Vaughn, sole member and president, the Debtor disclosed up to $500,000 in assets and up to $10 million in liabilities. Judge Mary Elisabeth Naumann oversees the case. Neil C. Bordy, Esq., at Seiller Waterman LLC represents the Debtor as counsel. POWER LANE: Voluntary Chapter 11 Case Summary --------------------------------------------- Debtor: Power Lane Logistics Distribution & Warehousing, Inc. d/b/a Power Lane Logistics, Inc. 1852 West 11th Street Suite 277 Tracy, CA 95376 Business Description: Power Lane Logistics Distribution & Warehousing, Inc., doing business as Power Lane Logistics, Inc., is a Tracy, California-based logistics company with operations in Stockton, California, that provides trucking, warehousing and distribution services, including 3PL warehousing, order fulfillment, loading and unloading, and related cargo-support services. Chapter 11 Petition Date: June 19, 2026 Court: United States Bankruptcy Court Eastern District of California Case No.: 26-23510 Judge: Hon. Christopher D Jaime Debtor's Counsel: David C. Johnston, Esq. DAVID C. JOHNSTON 1600 G Street, Suite 102 Modesto, CA 95354 Tel: (209) 579-1150 E-mail: david@johnstonbusinesslaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Nilton Ayala as president. The petition was filed without the Debtor's list of its 20 largest unsecured creditors. A full-text copy of the petition is available for free on PacerMonitor at: https://www.pacermonitor.com/view/3JJ6QPA/Power_Lane_Logistics_Distribution__caebke-26-23510__0001.0.pdf?mcid=tGE4TAMA PRINCE GLOBAL: Injunction Adjusted in Chapter 15 Dispute -------------------------------------------------------- Vince Sullivan of Law360 Bankruptcy Authority reports that a New York bankruptcy court has overruled the majority of challenges brought by a Prince Global Holdings director regarding the language of a Chapter 15 recognition order, though it accepted several proposed changes aimed at narrowing certain provisions. The decision advances the debtor's effort to obtain U.S. recognition of its foreign insolvency case. The objecting director contended that the proposed order granted excessively broad protections and could improperly restrict actions by stakeholders. The court, however, found that most of the disputed provisions were consistent with Chapter 15 requirements and necessary to support the foreign proceeding, the report relays. Nevertheless, the judge agreed to revise parts of the injunction to provide greater clarity and preserve certain legal rights. The final order reflects a compromise that supports international insolvency cooperation while addressing some of the objector's concerns. About Prince Global Holdings Limited Prince Global Holdings Limited is an international financial services firm engaged in investment and asset management activities. Prince Global Holdings Limited sought relief under Chapter 15 of the U.S. Bankruptcy Code (Bankr. Case No. 26-10769) on April 8, 2026. In its petition, the Debtor did not specify estimated assets or liabilities. Honorable Bankruptcy Judge Martin Glenn handles the case. The Debtor is represented by Andrew G. Dietderich, Esq., of Sullivan & Cromwell LLP. PROTRADE LOGISTICS: Logistics Asset Sale to Exhibitway Logistics ---------------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Illinois, has granted Protrade Logistics Corp., to sell substantially all Assets, free and clear of liens, claims, interests, and encumbrances. The Debtor operated as a freight broker and logistics service provider, with a particular focus on customers in the trade show industry. The Debtor's customers typically paid directly into the Debtor's accounts, and the Debtor maintained a relationship with a receivables factoring company, ComFreight Haulpay, which asserted a lien on the Debtor’s receivables and related proceeds. The Debtor wishes to sell all Assets, arising from, or related to its business, including, without limitation, the Debtor's customer relationships, goodwill, books and records, intellectual property, contract rights, and other assets. The Court has authorized the Debtor to sell the Assets to Exhibitway Logistics LLC. The aggregate consideration for the Purchased Assets consist of the Gross Margin from Existing Customers during the Plan Period. The Buyer acknowledges that the Purchase Price is contingent and variable, and that no minimum purchase price is guaranteed. The Debtor has represented that proper, timely, adequate, and sufficient notice of the Motion has been provided. The Debtor's inability to maintain FMCSA-compliant financial security, the failure of repeated efforts to secure replacement bonding or trust arrangements, and the imminent risk of losing customer relationships, goodwill, and going-concern value establish that the proposed transaction is in the best interests of the Debtor, its estate, and its creditors. The Debtor has demonstrated a sound business justification for the sale of the Purchased Assets to the Buyer pursuant to the terms of the Asset Purchase Agreement (APA). The Debtor has disclosed that the Buyer is owned by Marysol Gonzalez, who is the stepmother of Jose Benitez, one of the Debtor's owners. Notwithstanding this insider or related-party relationship, the Court finds that the APA was negotiated in good faith and at arm's length, under distressed circumstances, and on terms that are fair and reasonable to the estate. The Debtor is further authorized and empowered to take all actions and execute all documents and instruments that the Debtor deems necessary or appropriate to implement and effectuate the transactions contemplated by the APA. The Buyer is a good-faith purchaser of the Purchased Assets, therefore entitled to all of the protections afforded thereby. About Protrade Logistics Corporation Protrade Logistics Corporation provides logistics and transportation services, supporting freight movement and supply chain operations for commercial clients. Protrade Logistics Corporation sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-00518) on January 13, 2026. In its petition, the debtor reports estimated assets ranging from $100,001 to $1 million and estimated liabilities in the same range. Honorable Bankruptcy Judge Timothy A. Barnes handles the case. The debtor is represented by Richard N. Golding, Esq. of the Law Offices of Richard N. Golding, P.C. The U.S. Bankruptcy Court for the Northern District of Illinois, has granted Protrade Logistics Corp., to sell substantially all Assets, free and clear of liens, claims, interests, and encumbrances. The Debtor operated as a freight broker and logistics service provider, with a particular focus on customers in the trade show industry. The Debtor's customers typically paid directly into the Debtor's accounts, and the Debtor maintained a relationship with a receivables factoring company, ComFreight Haulpay, which asserted a lien on the Debtor’s receivables and related proceeds. The Debtor wishes to sell all Assets, arising from, or related to its business, including, without limitation, the Debtor's customer relationships, goodwill, books and records, intellectual property, contract rights, and other assets. The Court has authorized the Debtor to sell the Assets to Exhibitway Logistics LLC. The aggregate consideration for the Purchased Assets consist of the Gross Margin from Existing Customers during the Plan Period. The Buyer acknowledges that the Purchase Price is contingent and variable, and that no minimum purchase price is guaranteed. The Debtor has represented that proper, timely, adequate, and sufficient notice of the Motion has been provided. The Debtor's inability to maintain FMCSA-compliant financial security, the failure of repeated efforts to secure replacement bonding or trust arrangements, and the imminent risk of losing customer relationships, goodwill, and going-concern value establish that the proposed transaction is in the best interests of the Debtor, its estate, and its creditors. The Debtor has demonstrated a sound business justification for the sale of the Purchased Assets to the Buyer pursuant to the terms of the Asset Purchase Agreement (APA). The Debtor has disclosed that the Buyer is owned by Marysol Gonzalez, who is the stepmother of Jose Benitez, one of the Debtor's owners. Notwithstanding this insider or related-party relationship, the Court finds that the APA was negotiated in good faith and at arm’s length, under distressed circumstances, and on terms that are fair and reasonable to the estate. The Debtor is further authorized and empowered to take all actions and execute all documents and instruments that the Debtor deems necessary or appropriate to implement and effectuate the transactions contemplated by the APA. The Buyer is a good-faith purchaser of the Purchased Assets, and is entitled to all of the protections afforded. About Protrade Logistics Corporation Protrade Logistics Corporation provides logistics and transportation services, supporting freight movement and supply chain operations for commercial clients. Protrade Logistics Corporation sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-00518) on January 13, 2026. In its petition, the debtor reports estimated assets ranging from $100,001 to $1 million and estimated liabilities in the same range. Honorable Bankruptcy Judge Timothy A. Barnes handles the case. The debtor is represented by Richard N. Golding, Esq. of the Law Offices of Richard N. Golding, P.C. PSI SERVICES: Seeks to Hire Transwestern Carey Winston as Broker ---------------------------------------------------------------- PSI Services III, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Columbia to employ Transwestern Carey Winston, LLC as lease broker. The Debtor needs an exclusive lease broker to serve as its representative to locate appropriate business leasing locations in the Washington, DC, and Northern Virginia markets. The lease broker will be compensated through the negotiated agreements with the landlords of leased locations, and not by or through the Debtor or its bankruptcy estate. Sarah Kenney, a senior managing director at Transwestern Carey Winston, 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: Sarah Kenney Transwestern Carey Winston, LLC 6700 Rockledge Drive, Suite 500A (or Suite C1) Bethesda, MD 20817 Telephone: (301) 571-0900 About PSI Services III Inc. PSI Services III, Inc., also known as PSI Family Services, provides behavioral health and social services including outpatient mental health treatment, rehabilitation programs, and counseling for individuals and families. The organization also offers foster care, adoption, and family support services delivered under programs funded by federal and state agencies. PSI Services III, Inc. operates community-based health and social service programs primarily in Washington, D.C. and the surrounding Maryland region. PSI Services III sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.D.C. Case No. 26-00097) on Mar. 3, 2026. In the petition signed by Shawn Rubbin, chief advancement officer, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Elizabeth L. Gunn oversees the case. The Debtor tapped Justin P. Fasano, Esq., at McNamee Hosea, PA as counsel. R AND PS: Commences Chapter 7 Bankruptcy in Pennsylvania -------------------------------------------------------- On June 18, 2026, R and PS, LLC filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Middle District of Pennsylvania. According to court filings, the debtor reports between $0 and $100,000 in debt owed to between 1 and 49 creditors. About R and PS, LLC R and PS, LLC is a limited liability company. Additional details regarding the company's business operations were not disclosed in the bankruptcy petition. R and PS, LLC sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-01737) on June 18, 2026. In its petition, the debtor reported estimated assets of between $100,001 and $1 million and estimated liabilities of between $0 and $100,000. Honorable Bankruptcy Judge Henry W. Van Eck handles the case. The debtor is represented by Robert E. Chernicoff of Cunningham and Chernicoff PC. R INTERCONNECTIONS: Gets Final OK to Use Cash Collateral -------------------------------------------------------- R Interconnections Inc. received final approval from the U.S. Bankruptcy Court for the Northern District of New York to continue using cash collateral during its Chapter 11 case. The court authorized the debtor to use cash collateral in accordance with an approved budget, subject to a 15% variance on individual line items and a 10% overall budget variance. The Debtor projects total monthly operational expenses of $11,695.33. As adequate protection, the court granted prepetition secured creditors continuing rollover liens and security interests in their collateral with the same validity, priority, and enforceability they held before the bankruptcy filing. The debtor must also continue making monthly adequate protection payments of $289.28 to the U.S. Small Business Administration and $350.00 to the Internal Revenue Service, while secured creditors retain the right to seek additional adequate protection if necessary. The order establishes several events that could terminate the debtor's authority to use cash collateral, including material breaches of the order, unauthorized payments outside the approved budget, excessive budget variances, conversion or dismissal of the Chapter 11 case, or the appointment of a Chapter 11 trustee. The order preserves the rights of secured creditors, prohibits the debtor from granting additional voluntary liens without court approval, and provides that the protections granted to secured creditors will survive dismissal, conversion, or confirmation of a Chapter 11 plan unless otherwise ordered by the court. About R Interconnections Inc. R Interconnections Inc operates a retail storefront selling fishing tackle and gear across upstate New York and surrounding areas. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. N.Y. Case No. 26-10033-1-pgr) on January 14, 2026. In the petition signed by Thomas Zebrowski, US operations manager, the Debtor disclosed up to $50,000 in assets and up to $1 million in liabilities. Judge Patrick G. Radel oversees the case. Michael Boyle, Esq., at Boyle Legal LLC, represents the Debtor as legal counsel. RACINE SD: Seeks Chapter 7 Bankruptcy in Ohio --------------------------------------------- On June 22, 2026, Racine SD Investment, LLC filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Southern District of Ohio. According to court filings, the debtor reports between $1 million and $10 million in debt owed to between 1 and 49 creditors. About Racine SD Investment, LLC Racine SD Investment, LLC is a limited liability company. Public filings provide limited information regarding the company's operations, but it appears to function as an investment and asset-holding entity. Racine SD Investment, LLC sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-52989) on June 22, 2026. In its petition, the debtor reported estimated assets of $0 to $100,000 and estimated liabilities of $1 million to $10 million. Honorable Bankruptcy Judge Mina Nami Khorrami handles the case. The debtor is represented by David M. Whittaker of Allen Stovall Neuman & Ashton LLP. RAF PROPERTIES: Commences Chapter 11 Bankruptcy in Maine -------------------------------------------------------- On June 17, 2026, RAF Properties, LLC filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Maine. According to court filings, the debtor reports between $10 million and $50 million in debt owed to between 1 and 49 creditors. About RAF Properties, LLC RAF Properties, LLC is a limited liability company. Additional details regarding the company's operations were not disclosed in the bankruptcy petition. RAF Properties, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. Case No. 26-20176) on June 17, 2026. In its petition, the debtor reported estimated assets of between $1 million and $10 million and estimated liabilities of between $10 million and $50 million. Honorable Bankruptcy Judge Peter G. Cary handles the case. The debtor is represented by D. Sam Anderson of Bernstein, Shur, Sawyer & Nelson P.A. REYNOLDS CONSUMER: Fitch Affirms 'BB+' LongTerm IDR, Outlook Stable ------------------------------------------------------------------- Fitch Ratings has affirmed Reynolds Consumer Products LLC (Reynolds) and Reynolds Consumer Products Inc.'s Long-Term Issuer Default Ratings (IDRs) at 'BB+'. Fitch also affirmed the first-lien debt at 'BBB-' with a Recovery Rating of 'RR1'. The Rating Outlook is Stable. The rating reflects Reynolds' leading market positions, established brands and conservative financial policies. Fitch expects EBITDA leverage to remain below 2.5x over the rating horizon, while liquidity should stay ample, supported by consistently positive FCF. These strengths are offset by a smaller scale, with EBITDA of about $670 million, exposure to raw material price volatility and limited product diversity relative to larger peers. Fitch expects near-term cost and volume pressure, but believes Reynolds' brands, low price elasticity for core products and rating headroom gives it flexibility to navigate any volatility. Over time, Fitch expects low-single-digit sales growth and EBITDA margins in the 18% range, supported by innovation. Key Rating Drivers Leading Market Position: Reynolds holds a number one or two U.S. market position across the majority of its product categories, including the largest market share in consumer aluminum foil in both the U.S. and Canada. Over 50% of 2025 revenue was derived from categories where Reynolds maintained a leading market share position. The company's portfolio of well-known, trusted everyday household staple brands, including Reynolds Wrap and Hefty, supports resilient consumer demand, strong pricing power, and defensible retail shelf space. Additionally, Reynolds' exposure to both branded and private label products enable the company to capture trade-down spending during periods of economic pressure while strengthening retailer relationships through data analytics and product portfolio guidance. Category Innovator: Reynolds has supported market share through leading innovation within its categories, adapting to modern consumer trends such as sustainable, eco-friendly product offerings. Fitch believes the ability to differentiate product portfolios through innovation is particularly important in mature, highly competitive markets. Over the longer term, Reynolds' strong brand presence and continued focus on innovation could support increased distribution, driving low-single-digit annual growth. Pressured Volumes, Near-Term Softness: Reynolds' sales volumes fell in 2023 due to a significant foam product phaseout, retailer inventory destocking, and competitive pricing pressures. Pricing actions stabilized revenue in 2025 after 1.6% declines in 2023 and 2024. After a good start to 2026, Fitch expects operating volatility in 2H26 from commodity cost inflation, which the company intends to mitigate through further pricing actions. Fitch believes these headwinds could offset the positive volume momentum seen in 1Q26, resulting in broadly flat sales and EBITDA for 2026 and 2027 relative to 2025. Limited Diversification, Small Scale: Reynolds' lower diversification and EBITDA relative to larger consumer products companies limit its resiliency to industry and idiosyncratic challenges. For example, on the supply side, Reynolds is sensitive to price volatility in aluminum and resin, which together account for approximately 40% of its raw material costs. Consumer behavior shifts or competitive activity in key categories may have an outsized impact on the company's operating results given its somewhat concentrated product portfolio. Conservative Financial Policies: Reynolds' smaller scale and lower diversity are partly offset by conservative financial policies. Fitch expects EBITDA leverage to remain below 2.5x over the rating horizon, and at about 2.3x in 2026, unchanged from 2025. This provides good rating headroom against the 4.0x downgrade sensitivity. The company has used FCF to repay debt, reducing leverage from 3.1x pre-pandemic. Proactive debt reduction aligns with Reynolds' net debt leverage target of 2.0x-2.5x. Fitch-defined EBITDA leverage is modestly higher because of the company's cash balances. Reasonable Profitability: Despite stagnant top-line revenue growth, Reynolds improved its EBITDA margin to above 18% in 2024-2025 from the 14%-17% range between 2021 and 2023, driven by cost-cutting initiatives and efficiency gains. Prior to 2021, Reynolds' EBITDA margin hovered in the low-20% range before contracting due to a combination of input cost increases and operational challenges. Fitch expects the EBITDA margin to remain in the low-18% range in 2026 and 2027, with EBITDA of approximately $670 million, roughly flat yoy. EBITDA growth could resume in 2028, supported by stabilization of input costs and a return to low-single-digit sales growth. Good Liquidity and Positive FCF: Fitch believes Reynolds' liquidity will remain comfortable over the rating horizon, with annual positive FCF in the $80 million to $100 million range. This is slightly lower than the mid-to-high $100 million FCF generated over the past two years, primarily due to expected capex increases to fund investments in automation and growth initiatives. Fitch believes the company retains the flexibility to pull back on capex if needed. Reynolds could use FCF for complementary acquisitions, internal growth initiatives, debt repayment, or shareholder returns. Concentrated Ownership: Reynolds is majority owned and controlled by Packaging Finance Limited (PFL). Ownership concentration introduces potential concerns regarding board independence and effectiveness, as well as potential risks related to the financial policy. Reynolds has, however, demonstrated relatively strong governance, including conservative financial policies since its IPO in 2020. Peer Analysis Comparable Fitch-rated consumer issuers include Mattel, Inc. (BBB-/Stable), Central Garden & Pet Company (CENT, BB/Stable), and Coty Inc. (BB+/Negative). Mattel is the higher-rated issuer in this peer group, supported by larger scale, with EBITDA of about $900 million, leverage near 2.x and annual FCF of over $500 million. Its leading global brand portfolio also supports the rating. Mattel's narrow focus on toys exposes it to fashion and seasonality risk. Reynolds has a more predictable demand profile because its products are everyday consumables. CENT is rated one notch lower than Reynolds, reflecting its smaller scale, with EBITDA below $400 million. Both companies have private-label capabilities and relatively recession-resistant, consumables-oriented product bases. However, CENT's dual exposure to the pet and garden categories provides greater product diversification than Reynolds. Reynolds has stronger brand leadership in its key categories. Coty's rating reflects its scale as one of the world's largest beauty companies and solid profitability from its high-margin prestige fragrance and skincare portfolio. However, the Negative Outlook reflects accelerating market share losses across in prestige fragrances and consumer beauty, which have pressured EBITDA and pushed leverage above 4.0x. Fitch’s Key Rating-Case Assumptions - Sales could trend near the $3.7 billion recorded in 2025 for 2026 and 2027, as some pricing is offset by modest volume declines. In 2028, assuming a normalized cost environment, revenue growth could improve toward about 2%; - EBITDA in 2026 and 2027 could trend near 2025 levels of $675 million, given flattish topline and efforts to mitigate cost inflation through pricing actions and expense management. EBITDA growth could track with revenue expansion in 2028; - FCF beginning 2026 could trend in the $80 million to $100 million range, below the $150 million recorded in 2025 as the company ramps capex to invest in growth and operational automation initiatives. FCF could be used to support continued growth investments or shareholder returns; - EBITDA leverage is projected to trend in the low-2x beginning 2026. This is similar to 2025, given projections of flattish EBITDA and debt levels. - Base interest rates in the 3.0% to 3.5% range, with annual interest expense partially offset by the company's interest rate hedges. Corporate Rating Tool Inputs and Scores Fitch scored the issuer as follows, using its Corporate Rating Tool (CRT) to produce the Standalone Credit Profile (SCP): - Business and financial profile factors (assessment, relative importance): Management (bbb, Lower), Sector Characteristics (bbb, Moderate), Market and Competitive Positioning (bb+, Higher), Diversification and Asset Quality (bb+, Higher), Company Operational Characteristics (bbb-, Moderate), Profitability (bbb, Moderate), Financial Structure (a-, Lower), and Financial Flexibility (bbb+, 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. - The Governance assessment of 'Good' results in no adjustment. - The Operating Environment assessment of 'aa-' results in no adjustment. - The SCP is 'bb+'. To derive the IDR: - No adjustments made to SCP resulting in an IDR of 'BB+'. Recovery Analysis Fitch has assigned Recovery Ratings (RRs) to the various debt tranches in accordance with Fitch criteria, which allows for the assignment of RRs for issuers with IDRs in the 'BB' category. Given the distance to default, RRs in the 'BB' category are not computed by bespoke analysis. Instead, they serve as a label to reflect an estimate of the risk of these instruments relative to other instruments in the entity's capital structure. Fitch has assigned the first-lien credit facilities (term loan and revolver) a 'BBB-'/'RR1' rating, indicating outstanding recovery prospects post default. RATING SENSITIVITIES Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade: - EBITDA leverage sustained above 4.0x as a result of financial performance below Fitch's expectations yielding EBITDA sustained below $500 million; - A change in financial policy or a transformative debt-funded acquisition absent a clear path to deleveraging to below 4.0x within 24 months of acquisition close could also lead to negative rating actions. Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade: - An upgrade could be considered if the company exhibited low single digit organic growth and EBITDA approaching $750 million, with EBITDA leverage sustained below 3.0x. Liquidity and Debt Structure As of March 31, 2026, Reynolds had total liquidity of $831 million, including cash and cash equivalents of $71 million and $693 million available under its $700 million secured RCF due in October 2029 (net of $7 million of letters of credit outstanding). Fitch expects the company could generate post-dividend FCF in the $80 million to $100 million range annually in 2026 and 2027. This good liquidity buffer should provide Reynolds with the resources to continue investing in its business to drive growth as well as navigate any operating challenges that may occur. The company could also deploy FCF toward debt repayment or acquisitions. Reynolds' capital structure is comprised of a $700 million senior secured revolving credit facility maturing in October 2029 and a $1.536 billion senior secured term loan debt expected to mature in 2032. Issuer Profile Reynolds produces and sells cooking products, waste and storage products, and tableware under brands such as Reynolds and Hefty as well as store brands. The product portfolio includes aluminum foil, wraps, disposable bakeware, trash bags, food storage bags and disposable tableware. Summary of Financial Adjustments Fitch adjusted historical and projected EBITDA to add back non-cash stock-based compensation and exclude non-recurring charges. 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 Fitch uses Climate Vulnerability Signals (Climate.VS) as a screening tool to identify sectors and Fitch-rated issuers that are potentially most exposed to climate-related risks. If Fitch identifies an entity as higher risk (i.e. its Climate.VS in 2035 is 50 or higher), the entity receives additional analysis and consideration in rating reviews. Climate.VS range from 0 (lowest risk) to 100 (highest risk). For more information on Climate.VS, see Fitch's Corporate Rating Criteria. For more detailed, sector-specific information on how Fitch perceives climate-related transition risks, see Climate Vulnerability Signals for Non-Financial Corporate Sectors. The result of its Climate VS screener did not indicate an elevated risk for Reynolds Consumer Products Inc. ESG Considerations The highest level of ESG credit relevance is a score of '3', unless otherwise disclosed in this section. A score of '3' means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. Fitch's ESG Relevance Scores are not inputs in the rating process; they are an observation on the relevance and materiality of ESG factors in the rating decision. Entity/Debt Rating Recovery Prior ----------- ------ -------- ----- Reynolds Consumer Products LLC LT IDR BB+ Affirmed BB+ senior secured LT BBB- Affirmed RR1 BBB- Reynolds Consumer Products Inc. LT IDR BB+ Affirmed BB+ RITCHEY'S TRUCK: Michael Markham Named Subchapter V Trustee ----------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Michael Markham, Esq., as Subchapter V trustee for Ritchey's Truck Repair, Inc. Mr. Markham, a partner at Johnson Pope Bokor Ruppel & Burns, LLP, will be paid an hourly fee of $400 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Markham declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Michael C. Markham, Esq. Johnson Pope Bokor Ruppel & Burns, LLP 401 E. Jackson Street, Suite 3100 Tampa, FL 33602 Phone: (727) 480-5118 Mikem@jpfirm.com About Ritchey's Truck Repair Inc. Ritchey's Truck Repair, Inc.is a truck, trailer, and tanker repair company based in Mulberry, Florida. Founded in 1999 by Bruce and Karen Ritchey as a mobile repair business, the company provides diagnostics, engine repair, preventive maintenance, DOT inspections, mobile mechanic services, towing, welding and fabrication, and trailer repair. Its tanker services include inspections, leakage and pressure testing, thickness and hydro testing, valve rebuilding, lining inspections, and general tank trailer repairs for commercial truck, trailer, and tanker operators. Ritchey's Truck Repair sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-04988) on June 10, 2026, with $1 million to $10 million in both assets and liabilities. Bruce Ritchey, president of Ritchey's Truck Repair, signed the petition. Amy Denton Mayer, Esq., at Berger Singerman, LLP represents the Debtor as legal counsel. SABLE OFFSHORE: Launches $1B Term Loan to Replace Exxon Mobil Loan ------------------------------------------------------------------ Sable Offshore Corp. announced that it is launching a proposed senior secured term loan facility in an aggregate principal amount of up to $1.0 billion, which will replace the Company's Senior Secured Term Loan with Exxon Mobil Corporation. The Company is expected to be the borrower under the New Senior Secured Term Loan. Additionally, the Company expects to pursue incremental unsecured capital markets solutions. JPMorgan Chase Bank, N.A. is expected to be administrative agent under the New Senior Secured Term Loan. The Company currently intends to use the proceeds from the New Senior Secured Term Loan, together with the proceeds of the expected additional unsecured capital markets solutions, to fund the repayment of the Existing Senior Secured Term Loan, to pay transaction fees and expenses, and to satisfy contractual performance bonding obligations. There can be no assurances that the Company will be successful in its marketing efforts or that it will be able to enter into the New Senior Secured Term Loan. Closing of the New Senior Secured Term Loan is subject to market conditions, as well as the negotiation and execution of definitive documents and the satisfaction of customary closing conditions. About Sable Offshore Corp. Sable Offshore Corp. is an independent oil and gas company, headquartered in Houston, Texas, focused on responsibly developing the Santa Ynez Unit in federal waters offshore California. The Sable team has extensive experience safely operating in California. The Company's independent auditor, Ham, Langston & Brezina, L.L.P., based in Houston, Texas, and serving since 2024, included a "going concern" qualification in its report dated February 27, 2026, attached to the Annual Report on Form 10-K with the U.S. Securities and Exchange Commission for the fiscal year ended December 31, 2025 citing that uncertainties related to obtaining the remaining regulatory approvals necessary to resume sales of production, along with the uncertainty of obtaining additional financing, or refinancing the Senior Secured Term Loan raise substantial doubt about the Company's ability to continue as a going concern. As of March 31, 2026, the Company had $1.7 billion in total assets, $1.3 billion in total liabilities, and $421.9 million in total stockholders' equity. SAILORMEN INC: Florida Court OKs $16MM Sale of Popeyes Locations ---------------------------------------------------------------- David Minsky of Law360 Bankruptcy Authority reports that a bankruptcy judge in Florida has authorized the sale of nearly 100 Popeyes restaurants for roughly $16 million as part of a franchisee's Chapter 11 proceedings. The assets will be acquired by five separate purchasers that submitted successful bids during a competitive auction process. The debtor argued that the sales represented the best available outcome for its stakeholders and would preserve value generated by the restaurant network. The court agreed, finding that the auction was conducted in good faith and produced fair market value for the assets being sold, according to report. Approval of the transactions clears the way for the transfer of restaurant operations to the winning bidders. The sale proceeds are expected to help satisfy creditor claims and advance the debtor's efforts to conclude its bankruptcy case, Law360 reports. 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. SANGAMO THERAPEUTICS: Gene Therapy Developer Seeks Ch.11 Bankruptcy ------------------------------------------------------------------- Bondoro reports that Sangamo Therapeutics Inc. filed for Chapter 11 protection in Delaware on June 23, 2026 seeking to execute a dual-track, court-supervised sale of its genomic medicine portfolio. The biotechnology firm focuses on gene editing technologies aimed at treating neurological and rare genetic disorders. The sale process is anchored by stalking horse agreements with Eli Lilly and Astellas, covering Sangamo's core gene-editing platforms and Fabry disease program, respectively. Remaining development assets, including programs in hemophilia, sickle cell disease, and pain management, will be marketed through a postpetition auction, the report relays. The company entered bankruptcy without traditional debt obligations, but suffered severe revenue losses after key collaboration terminations and a collapse in expected milestone payments. These disruptions led to a sharp liquidity crisis that ultimately forced the restructuring. Sangamo reports estimated assets and liabilities between $100 million and $500 million under Case No. 26-10989, with the filing indicating potential recoveries for unsecured creditors.subject to higher bids and court approval, the report relays. About Sangamo Therapeutics Inc. Sangamo Therapeutics Inc. is a biotechnology firm specializing in genome engineering and gene therapy research. It is best known for its zinc finger nuclease platform, which is designed to modify genes to treat inherited and rare diseases. Sangamo Therapeutics Inc. sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 26-10989) on June 23, 2026. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million. Honorable Bankruptcy Judge Craig T. Goldblatt handles the case. The Debtor is represented by Kristin Cunningham, Esq. of Richards, Layton & Finger. SCHRAPPER'S FINE: Linda Leali Named Subchapter V Trustee -------------------------------------------------------- The Acting U.S. Trustee for Region 21 appointed Linda Leali, Esq., as Subchapter V trustee for Schrapper's Fine Cabinetry & Design LLC. Ms. Leali will be paid an hourly fee of $450 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Leali declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Linda M. Leali Linda M. Leali, P.A. 2525 Ponce De Leon Blvd., Suite 300 Coral Gables, FL 33134 Telephone: (305) 341-0671, ext. 1 Facsimile: (786) 294-6671 Email: leali@lealilaw.com About Schrapper'S Fine Cabinetry & Design LLC Schrapper'S Fine Cabinetry & Design, LLC is a Jupiter, Florida-based cabinetry design and installation company that provides custom kitchen cabinets, bathroom vanities, closet systems, outdoor kitchen cabinetry, home office built-ins and other storage solutions for residential customers in Palm Beach and Martin counties. Schrapper'S filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-17649) on June 11, 2026, with $500,000 to $1 million in assets and $1 million to $10 million in liabilities. James Smith, manager, signed the petition. Thomas Zeichman, Esq., at Zeichman Law represents the Debtor as bankruptcy counsel. SEASTAR MEDICAL: Stockholders Back Incentive Plan Increase ---------------------------------------------------------- SeaStar Medical Holding Corporation stockholders approved an amended 2022 omnibus incentive plan increasing authorized shares to 896,546 from 207,046, according to a Form 8-K. The approval came at the company's June 17 virtual annual meeting. The earlier share amount reflected adjustment for a Jan. 5 1-for-10 reverse stock split. The plan proposal received 551,233 votes for, 223,813 against, 10,136 abstentions and 1,395,732 broker non-votes. Stockholders also elected John Neuman as a Class I director to serve until the 2029 annual meeting, ratified WithumSmith+Brown, PC as independent registered public accounting firm for fiscal 2026 and approved an adjournment proposal. About SeaStar Medical Holding SeaStar Medical Holding Corporation is a commercial-stage healthcare company focused on treatments for critically ill patients facing organ failure and potential loss of life. Its Selective Cytopheretic Device, or SCD, is designed to neutralize overactive immune cells and address hyperinflammation. The company's pediatric SCD therapy, QUELIMMUNE, received FDA approval under a Humanitarian Device Exemption for pediatric acute kidney injury due to sepsis or a septic condition requiring kidney replacement therapy, and the company is studying SCD therapy in adult AKI requiring continuous renal replacement therapy. In an audit report dated March 25, 2026, WithumSmith+Brown, PC included a going concern qualification, stating that the company had recurring operating losses and negative cash flows from operating activities since inception and expected to continue incurring operating losses and negative cash flows. The conditions raised substantial doubt about the company's ability to continue as a going concern. As of March 31, 2026, the company reported total assets of $11.26 million, total liabilities of $3.95 million and total stockholders' equity of $7.32 million. SHANNON WIND: Plan Exclusivity Period Extended to Aug. 24 --------------------------------------------------------- Judge Alfredo R. Perez of the U.S. Bankruptcy Court for the Southern District of Texas extended Shannon Wind, LLC's exclusive periods to file a plan of reorganization and obtain acceptance thereof to Aug. 24 and Oct. 23, 2026, respectively. As shared by Troubled Company Reporter, the Debtor explains that there is no question that this Chapter 11 Case is large and extremely complex. As indicated in the Notice of Designation as Complex Case, the Debtor has a total debt of more than $110 million, and numerous parties in interest in the Chapter 11 Case. Accordingly, the Debtor submits that the size, complexity, and the breadth of financial and legal issues involved in this Chapter 11 case weigh in favor of extending the Exclusivity Periods. Since the Petition Date, the Debtor has made substantial progress in negotiating with its respective stakeholders and administering this Chapter 11 Case. Notwithstanding the Debtor's material developments and substantial progress since the Petition Date, the administration of this Chapter 11 Case as well as the confirmation and implementation of the Plan will require additional time and effort. Accordingly, such circumstances support granting the Debtor's requested extension of the Exclusivity Periods. The Debtor asserts that approximately four months have elapsed since the Petition Date, and this is the Debtor's first request for an extension of the Exclusivity Periods. As noted, during the brief pendency of this Chapter 11 Case, the Debtor made significant progress towards a sale of substantially all of its assets and confirmation of the Plan. The Debtor further asserts that it is progressing substantially along the currently proposed timeline and expects to have approval of the sale of substantially all the Debtor's assets and confirmation of the Plan in the coming weeks. Considering the resources of the Debtor's estate that have already been spent on preparing and commencing solicitation of the Plan, the filing of a competing plan or plans during this time would force the Debtor to fend off alternative chapter 11 plan proposals instead of focusing its efforts on maximizing the recovery of all stakeholders. Shannon Wind, LLC is represented by: BRADLEY ARANT BOULT CUMMINGS LLP Jarrod B. Martin, Esq. Michael K. Riordan, Esq. 600 Travis Street, Suite 5600 Houston, Texas 77060 Telephone: (713) 576- 0300 Facsimile: (713) 547-0301 Email: jbmartin@bradley.com mriordan@bradley.com -and- James Bailey, Esq. 1819 Fifth Avenue N. Birmingham, AL 35203 Telephone: (205) 521-8000 Facsimile: (205) 488-6913 Email: jbailey@bradley.com -and- Alexandra E. Dugan, Esq. 1221 Broadway, Suite 2400 Nashville, TN 37203 Telephone: (615) 252-4638 Facsimile: (615) 252-4705 Email: adugan@bradley.com About Shannon Wind LLC Shannon Wind LLC develops and owns the Shannon Wind project, a utility-scale wind farm in Clay County, Texas, generating approximately 204 megawatts of electricity from wind turbines. The Company manages construction, commercial operations, and overall project oversight for the renewable energy facility. Shannon Wind, LLC sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Case No. 26-90124) on January 25, 2026. In its petition, the Debtor reports estimated assets and liabilities between $100 million and $500 million. Honorable Bankruptcy Judge Alfredo R. Perez handles the case. The Debtor is represented by Jarrod B. Martin, Esq. of Bradley Arant Boult Cummings, LLP. The Debtor's financial advisor is Accordion Partners, LLC, its investment banker is Nomura Securities International, Inc., its valuator is KPMG LLP. The Debtor's notices, claims, solicitation and balloting agent and administrative advisor is Kurtzman Carson Consultants LLC doing business as Verita Global. SL 7200: Seeks Chapter 11 Bankruptcy in Texas --------------------------------------------- On June 18, 2026, SL 7200 LP filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Eastern District of Texas. According to court filings, the debtor reports between $1 million and $10 million in debt owed to between 1 and 49 creditors. About SL 7200 LP SL 7200 LP is a limited partnership. Additional details regarding the partnership's business operations were not disclosed in the bankruptcy petition. SL 7200 LP sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-42117) on June 18, 2026. In its petition, the debtor reported estimated assets of between $0 and $100,000 and estimated liabilities of between $1 million and $10 million. Honorable Bankruptcy Judge Brenda T. Rhoades handles the case. The debtor is represented by Robert DeMarco III. Linda S. Payne serves as Interim Trustee. SLEEP NUMBER: Gets Interim OK for DIP Financing ----------------------------------------------- Sleep Number Corporation announced in a regulatory filing that the Company and its subsidiaries entered into the Fourteenth Amendment to Amended and Restated Credit and Security Agreement. Pursuant to the DIP Credit Agreement, the prepetition lenders under the Prepetition Credit Agreement have committed to provide up to $260 million of debtor-in-possession financing in the form of: (i) new money superpriority senior secured term loan commitments in an aggregate principal amount of up to $65 million, available in multiple draws in an amount of up to $50 million upon entry of the interim DIP order and in an amount up to the difference between $65 million and the amount of DIP Loans actually funded prior to the entry of the final DIP order and (ii) roll-up loans comprising secured obligations under the Prepetition Credit Agreement that shall be converted and exchanged into roll-up loans under the DIP Credit Agreement in an aggregate principal amount of up to $195 million. On June 15, 2026, the Bankruptcy Court for the Southern District of New York entered the interim DIP order approving the transaction on an interim basis through the final hearing which is currently scheduled for July 9, 2026. Sleep Number's obligations under the DIP Loans and the Roll-Up Loans are guaranteed by each subsidiary of the Company. In addition, subject to the terms of the interim DIP order approving the DIP Loans and the Roll-Up Loans (or the final DIP order, when entered), the claims of the DIP Lenders are (or are expected to be): (i) entitled to superpriority administrative expense claim status and, subject to certain customary exclusions in the credit documentation, (ii) secured by: (a) a perfected first priority lien on all DIP Collateral (as defined in the interim DIP order), to the extent such collateral is unencumbered, (b) a perfected priming senior security interest in and liens on the prepetition collateral, and (c) a perfected junior security interest in and liens on the DIP Collateral to the extent such DIP Collateral is subject to permitted prior senior liens. Pursuant to the DIP Amendment, Sleep Number may make optional prepayments of the DIP Loans, in whole or in part, without penalty (other than applicable breakage and redeployment costs and the payment of certain other fees, including an exit fee). In addition, subject to certain exceptions and conditions described in the DIP Amendment, Sleep Number is obligated to prepay the obligations thereunder with the net cash proceeds of certain asset sales, casualty insurance proceeds, extraordinary receipts or the proceeds of any indebtedness not permitted to be incurred pursuant to the terms of the DIP Amendment. The scheduled maturity date of the DIP Loans and the Roll-Up Loans is September 16, 2026. The DIP Loans and the Roll-Up Loans will bear an interest rate per annum equal to either SOFR plus 8.00% or the "base rate" plus 7.00%. The DIP Credit Agreement contains representations, warranties and covenants that are typical and customary for these types of debtor-in-possession facilities, including, but not limited to specified restrictions on indebtedness, liens, investments, loans and guaranties, mergers and sales of assets, acquisitions, restricted payments, voluntary payments of other indebtedness, transactions with affiliates, sale and leaseback transactions and compliance with case milestones (including regarding a sale of substantially all of the assets of the Company and its subsidiaries), restrictive agreements, bankruptcy matters, cash management order and assumption or rejection of contracts and leases. The DIP Credit Agreement contains customary events of default, including as a result of certain events occurring in the Chapter 11 Cases. The DIP Credit Agreement requires compliance with variance covenants that compare actual operating disbursements, expenditures and receipts to the budgeted amounts set forth in the DIP budgets delivered to the DIP Agent and DIP Lenders on or prior to the closing date and updated periodically thereafter pursuant to the terms of the DIP Amendment. The proposed DIP facility remains subject to final approval by the Bankruptcy Court and each drawing thereunder is subject to certain conditions precedent. A full text copy of the DIP Amendment and DIP Credit Agreement is available at https://tinyurl.com/ybwwu46z About Sleep Number Corp. Sleep Number Corporation, formerly Select Comfort Corporation, is a Minneapolis, Minnesota-based company founded in 1987. The company offers mattresses and bases, including smart mattresses with adjustable firmness, digital sensing, automatic comfort adjustments, and temperature-control features. Sleep Number uses a direct-to-consumer distribution model through Sleep Number stores and online retail touchpoints, and provides home delivery and professional set-up services. The company operates 572 stores in 50 U.S. states and employs approximately 2,920 employees. Sleep Number Corporation sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 26-11399) on June 12, 2026. In its petition, the Debtor reports total assets of approximately $642.32 million and total debts of approximately $1.28 billion as of April 30, 2026. The Honorable Bankruptcy Judge Kyu Young Paek handles the case. Davis Polk & Wardwell LLP is serving as Sleep Number's legal advisor in the restructuring. The company also retained Guggenheim Securities, LLC as investment banker, A&G Real Estate Partners as real estate advisors, and Kroll Restructuring Administration LLC as claims, noticing, solicitation, and administrative agent. SONOMA PHARMACEUTICALS: Posts $3.18MM FY26 Loss, Liquidity Improves ------------------------------------------------------------------- Sonoma Pharmaceuticals, Inc. filed with the U.S. Securities and Exchange Commission its Annual Report on Form 10-K for the fiscal year ended March 31, 2026. Based on financial statements, the Company reported a net loss of $3.18 million and $3.46 million for the years ended March 31, 2026 and 2025, respectively. At March 31, 2026 and 2025, the Company's accumulated deficit amounted to $200.98 million and $197.81 million, respectively. The Company had working capital of $7.27 million and $8.55 million as of March 31, 2026 and 2025, respectively. During the years ended March 31, 2026 and 2025, net cash used in operating activities amounted to $3.93 million and $88 thousand, respectively. On April 24, 2026, the Company entered into an underwriting agreement with Dawson James Securities, Inc.. At the close of the offering, the Company issued 2,962,963 shares of common stock. The Company received gross proceeds of $4 million and net proceeds of approximately $3.57 million after deducting commissions and other offering expenses paid by the Company. Management believes that the Company's existing cash, proceeds from the Dawson offering, and will be sufficient to fund its projected operating requirements for at least the next 12 months from June 16, 2026, or the issuance date of the financial statements. This conclusion differs from prior periods due primarily to the Company's improved liquidity position resulting from the capital raise through the Dawson offering, together with actions taken to align operating expenditures with available resources and expected cash flow management. Additionally, the Company has access to capital resources, which may include public or private equity offerings, debt financings, corporate collaborations, or other means, if and when appropriate to support strategic initiatives. However, there can be no assurance that such financings will be available on commercially acceptable terms, or at all, if pursued in the future. If the economic climate in the U.S. deteriorates, the Company's ability to access additional capital could be negatively impacted. If the Company elects to pursue additional financing in the future, it may do so to support growth initiatives, extend its financial flexibility, or fund strategic opportunities. Any such activities could result in delays or changes to planned commercialization activities depending on timing and market conditions. A full text copy of the Company's Form 10-K is available at https://tinyurl.com/bdz8radv About Sonoma Pharmaceuticals Sonoma Pharmaceuticals Inc. is a Boulder, Colorado-based health care company that develops and produces stabilized hypochlorous acid products for wound care, eye care, oral care, dermatology, podiatry, animal health care and disinfectant uses. The company was incorporated in 1999 as Micromed Laboratories Inc. and later changed its name to Sonoma Pharmaceuticals Inc. in 2016. At March 31, 2026, the Company had $13.96 million in total assets, $10.87 million in total liabilities, and $3.1 million in total stockholders' equity. * * * This concludes the Troubled Company Reporter's coverage of Sonoma Pharmaceuticals until facts and circumstances, if any, emerge that demonstrate financial or operational strain or difficulty at a level sufficient to warrant renewed coverage. SORRENTO THERAPEUTICS: RICO Claims Against Jackson Walker Dismissed ------------------------------------------------------------------- Alex Wittenberg of Law360 Bankruptcy Authority reports that a judge overseeing the Sorrento Therapeutics bankruptcy has blocked a California federal action accusing Jackson Walker LLP and other parties of engineering the company's Chapter 11 filing in Texas. The ruling represents a significant victory for the defendants, who argued that the lawsuit improperly attacked the bankruptcy process. The plaintiffs alleged that Sorrento executives and advisers worked together to manufacture venue eligibility in Texas and then used the bankruptcy system to their advantage. They sought damages and other remedies, contending that the alleged scheme amounted to racketeering and misconduct, the report states. The bankruptcy court disagreed with allowing the claims to proceed in a separate forum, finding that they directly relate to issues under its jurisdiction. The decision keeps disputes concerning the bankruptcy filing and venue selection within the Texas court overseeing the restructuring, according to Law360. About Sorrento Therapeutics Sorrento Therapeutics, Inc. -- http://www.sorrentotherapeutics.com/ -- is a clinical and commercial stage biopharmaceutical company developing new therapies to treat cancer, pain (non-opioid treatments), autoimmune disease and COVID-19. Sorrento's multimodal, multipronged approach to fighting cancer is made possible by its extensive immuno-oncology platforms, including key assets such as next-generation tyrosine kinase inhibitors "TKIs"), fully human antibodies ("G-MAB(TM) library"), immuno-cellular therapies ("DAR-T(TM)"), antibody-drug conjugates ("ADCs"), and oncolytic virus ("Seprehvec(TM)"). Sorrento is also developing potential antiviral therapies and vaccines against coronaviruses, including STI-1558, COVISHIELD(TM) and COVIDROPS(TM), COVI-MSCTM; and diagnostic test solutions, including COVIMARK(TM). Sorrento Therapeutics, Inc., and Scintilla Pharmaceuticals, Inc., sought Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 23-90085) on Feb. 13, 2023. Sorrento disclosed assets in excess of $1 billion and liabilities of about $235 million as of Feb. 10, 2023. Judge David R. Jones originally oversaw the cases. The Debtors tapped Latham & Watkins, LLP as bankruptcy counsel; Jackson Walker, LLP as local counsel; Tran Singh, LLP as conflicts counsel; and M3 Advisory Partners, LP as financial advisor. Mohsin Y. Meghji, managing partner at M3, serves as the Debtors' chief restructuring officer. Stretto Inc. is the claims, noticing and solicitation agent. Norton Rose Fulbright US, LLP and Milbank, LLP represent the official committee of unsecured creditors appointed in the Debtors' Chapter 11 cases. On April 10, 2023, the U.S. Trustee for Region 7 appointed an official committee to represent the Debtors' equity security holders. On April 10, 2023, the U.S. Trustee for Region 7 appointed an official committee to represent the Debtors' equity security holders. Glenn Agre Bergman & Fuentes, LLP and Greenberg Traurig, LLP serve as the equity committee's bankruptcy counsel. SOUTHERN POINTE: Seeks Chapter 11 Bankruptcy in Louisiana --------------------------------------------------------- On June 18, 2026, Southern Pointe Land, LLC commenced a voluntary Chapter 11 bankruptcy proceeding in the U.S. Bankruptcy Court for the Western District of Louisiana. Court records indicate the company has liabilities ranging from $10 million to $50 million and between 1 and 49 creditors. A meeting of creditors under Section 341(a) to be held on July 20, 2026 at 01:00 PM at 341 Meeting - Telephone Conference, UST. Call: 888-330-1716, Passcode: 5240151#. The Chapter 11 plan and accompanying disclosure statement must both be filed by October 16, 2026. About Southern Pointe Land, LLC Southern Pointe Land, LLC is a real estate company focused on land holdings and property development projects. The filing did not provide extensive details regarding the company's business operations. The company filed for protection under Chapter 11 of the Bankruptcy Code (Case No. 26-20306) on June 18, 2026. The petition lists estimated assets between $10 million and $50 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge John W. Kolwe handles the case. The Debtor is represented by Barbara B. Parsons, Esq. and William E. Steffes, Esq. of The Steffes Firm, LLC. SPANISH BROADCASTING: IRS, FCC Say Chapter 11 Plan Falls Short -------------------------------------------------------------- Emily Lever of Law360 Bankruptcy Authority reports that federal regulators have challenged the Chapter 11 plan of Spanish Broadcasting System, with both the IRS and FCC telling a Delaware bankruptcy judge that key provisions require clarification. The agencies argue that the debtor's proposed restructuring does not sufficiently address tax and communications-related obligations. The IRS objected on the grounds that the plan appears to gloss over the handling of priority tax claims, which are entitled to specific protections under federal bankruptcy law. The FCC separately argued that any transfer, modification, or treatment of broadcast licenses remains subject to its regulatory jurisdiction regardless of the bankruptcy process, the report cites. The objections could complicate the confirmation process for the media company, which entered Chapter 11 with a prepackaged restructuring agreement. Court approval may depend on whether the debtor can revise the plan to satisfy both agencies' concerns, according to report. About Spanish Broadcasting System Spanish Broadcasting System Inc. operates Spanish-language radio stations and media properties serving Hispanic communities across the U.S. and Puerto Rico. The company's business includes radio broadcasting, digital advertising, music programming and live entertainment initiatives. Through its portfolio of stations and online brands, the company delivers music, news, talk and cultural programming tailored to Latino listeners. Spanish Broadcasting System and its affiliates sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 26-10708) on May 11, 2026. In its petition, Spanish Broadcasting System disclosed estimated assets and liabilities between $100 million and $500 million each. The case is jointly administered in Case No. 26-10708. Bankruptcy Judge Brendan Linehan Shannon handles the case. The Debtors are represented by Robert J. Dehney, of Morris, Nichols, Arsht & Tunnell. Fried, Frank, Harris, Shriver & Jacobson LLP was retained as general bankruptcy counsel, while GLC Advisors & Company is serving as investment banker. Financial advisory and chief restructuring officer duties are being handled by Riveron Management Services LLC and Jesse York, and Kroll Restructuring Administration LLC is serving as claims agent and administrative advisor. SPIRIT AVIATION: Court OKs Aviation Asset Sale at Auction --------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of New York has approved Spirit Aviation Holdings Inc. and its affiliates, to sell Assets at auction, free and clear of liens, claims, interests, and encumbrances. The Debtors seek to sell certain Assets including slots at New York's LaGuardia Airport (LGA Slots), hangars, a corporate office complex, training center, and a multi-family residential building, ground service equipment, spare engines, flight simulators, aircraft maintenance and other equipment, assets related to the "Free Spirit" loyalty program and other intangible assets and/or other assets that the Debtors and their advisors shall identify and make available for diligence in the Data Room. Spirit operates a leading value airline committed to delivering value to its guests by offering an enhanced travel experience with flexible, affordable options. Spirit employs approximately 25,000 direct employees and independent contractors, and serves destinations throughout the United States, Latin America, and the Caribbean with one of the youngest and most fuel-efficient fleets in the United States. Spirit commenced the cases to use the tools of chapter 11 to realize hundreds of millions of dollars in annual savings and lighten its balance sheet by shedding billions of dollars of liabilities. Spirit continues to examine every aspect of its cost structure, fleet, and network. The Debtor intends to use chapter 11 to implement the broad changes necessary to transition the Company to a sustainable future and position it to deliver the best value in the sky for years to come. The Court has authorized the Debtor to sell the Assets at auction. The Debtors' proposed notice of the Motion, the Bidding Procedures, the Bidding Procedures Hearing, and the proposed entry of the Bidding Procedures Order is appropriate an reasonably calculated to provide all interested parties with timely and proper notice. The Bid Protections, as approved by this Bidding Procedures Order, are fair and reasonable and provide a benefit to the Debtors' estates and stakeholders. As further described in the Bidding Procedures, the LGA Slots Stalking Horse Bid Deadline shall be at 4:00 p.m. (prevailing Eastern Time) on June 10, 2026. The LGA Slots Final Bid Deadline shall be at 4:00 p.m. (prevailing Eastern Time) on June 30, 2026. The Other Bid Assets Stalking Horse Bid Deadline shall be at 4:00 p.m. (prevailing Eastern Time) on June 22, 2026. The Other Bid Assets Final Bid Deadline shall be at 4:00 p.m. (prevailing Eastern Time) on July 7, 2026. The Campus Stalking Horse Bid Deadline shall be at 4:00 p.m. (prevailing Eastern Time) on June 24, 2026. The Campus Final Bid Deadline shall be at 4:00 p.m. (prevailing Eastern Time) on July 20, 2026. In the event that the Debtors receive, on or before the applicable Bid Deadline, one or more Qualified Bids (whether or not the Debtors have designated a Stalking Horse Bid), an Auction shall be conducted at the offices of Davis Polk & Wardwell LLP, 450 Lexington Avenue, New York, New York 10017 (i) with respect to the Bid Assets other than the Campus Properties, at 10 a.m. (prevailing Eastern Time) on July 10, 2026, (ii) with respect to the Campus Properties, at 10 a.m. (prevailing Eastern Time) on July 24, 2026, or such later time on such day or such other place as the Debtors (after consultation with the applicable Consultation Parties) shall notify all Participating Parties. The Debtors are authorized to conduct the Auction(s) in accordance with the Bidding Procedures. If no more than one Qualified Bid is submitted by the applicable Bid Deadline (whether an Approved Stalking Horse Bid or otherwise) or multiple Partial Bids are submitted by the applicable Bid Deadline for non-overlapping lots of Bid Assets, the Debtors may, in their discretion and in consultation with the applicable Consultation Parties, elect to cancel the Auction(s) and seek approval of the transactions contemplated in such Approved Stalking Horse Bid, Qualified Bid that is not an Approved Stalking Horse Bid, or Partial Bid(s) at the Sale Hearing. 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. SPOKANE INDUSTRIES: Seeks Cash Collateral, $500,000 DIP Loan ------------------------------------------------------------ Spokane Industries, LLC asks the U.S. Bankruptcy Court for the Eastern District of Washington for authority to use cash collateral and obtain a third post-petition unsecured loan facility, through September 27. Since the petition date, the Debtor has operated as a debtor-in-possession, first under an interim cash collateral order entered in January and later under a final cash collateral order entered in March, which authorized use of cash collateral through June 30 and provided adequate protection to secured parties, including Pathward, N.A. The court also previously approved post-petition financing of up to $1 million from Patrick Turner, of which $800,000 has been used. The Debtor's restructuring effort depends on stabilizing and increasing production, but operational inefficiencies have disrupted cash flow. The steelmaking process involves “heats” (melting and pouring steel) followed by finishing, and the Debtor only receives payment once finished goods are delivered. Although the Debtor has been producing an average of 134,000 pounds of steel weekly, only about 121,500 pounds have been finished and invoiced, creating an estimated $50,000 weekly revenue shortfall. This gap is attributed primarily to finishing bottlenecks caused by staffing issues and supply disruptions, including shortages of grinding wheels needed for finishing operations. As a result, inventory has accumulated in backlog, temporarily suppressing cash inflows despite ongoing production. To address these issues, the Debtor has restructured staffing in the finishing department, increased wages to attract qualified engineering-level candidates, and assigned a senior executive to oversee production. It anticipates improved throughput but acknowledges a lag between production and cash realization of approximately seven weeks. Accordingly, the Extended Budget reduces projected production levels to align with current finishing capacity and anticipates temporary cash accumulation during the extension period, which will be necessary to bridge timing gaps in collections. The Debtor also describes its intent to purchase a thermal reclamation unit, which would recycle casting sand and reduce both material costs and finishing workload. To finance this improvement, it seeks authority for a third DIP loan of up to $500,000 from insider and creditor Patrick Turner. The loan would be unsecured, carry interest at the federal judgment rate, have no fees or collateral, and be subordinated to all administrative claims under 11 U.S.C. section 507(a)(2). The Debtor argues that this financing is the most favorable available and will enhance long-term efficiency and profitability. The Debtor asserts that Pathward and other secured creditors are adequately protected through replacement liens on post-petition collateral of the same type and continued insurance coverage, consistent with 11 U.S.C. sections 361 and 363(e). The Debtor emphasizes that adequate protection is intended to guard against diminution in value, not guarantee full repayment, and argues that the proposed structure continues protections already approved in prior orders. A court hearing is set for June 30. A copy of the motion is available at https://urlcurt.com/u?l=fiohFj from PacerMonitor.com. About Spokane Industries LLC Spokane Industries, LLC operates a foundry in Spokane Valley, Washington, producing castings for the mining industry and employing more than 100 steel workers while selling products to customers worldwide. Spokane Industries sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Wash. Case No. 26-00116) on January 23, 2026, with $9,872,078 in assets and $19,854,752 in liabilities. The petition was signed by Patrick Turner as managing member. Judge Frederick P. Corbit oversees the case. The Debtor is represented by Thomas A. Buford, Esq., at Bush Kornfeld, LLP. Jonas Anderson, Acting U.S. Trustee for Region 18, appointed an official committee to represent unsecured creditors in the Debtor's Chapter 11 case. Schwabe, Williamson & Wyatt, P.C. is the committee's legal counsel. SQUARE ONE: To Sell Welch Way Property to Wendell Smith for $515K ----------------------------------------------------------------- Square One Preservation LLP seeks approval from the U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, to sell Property, free and clear of liens, claims, interests, and encumbrances. The Debtor's Property that is up for sale is located at 18730 Welch Way, Country Club Hills, Il 60478. Robert P. Handler was appointed as Subchapter V Trustee. The Debtor is an Illinois liability partnership that provides real property preservation services for its clients. The Plan provides for distributions of 100% of all timely-filed claims. Class 1 of the Plan consists of the secured claim of Auburn Loan Servicing Inc. which claim is secured by a mortgage on the Property. The Debtor retains Jessica Hayes and Century 21 S.G.G. Inc. to market the Property. On June 10, 2026, the Debtor accepted the offer of Wendell Smith to purchase the Property for $515,000. The Contract is subject to Buyer obtaining financing attorney's approval, and inspection of the Property. The Debtor submits that the sales price of the Property is greater than the aggregate of all lien interests, and the Property can be sold free and clear of liens. The Buyer is a good faith purchaser and is entitled to the protections afforded under Section 363. About Square One Preservation Square One Preservation, LLP sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 24-16033) on October 25, 2024, with $100,001 to $500,000 in both assets and liabilities. Judge Timothy A. Barnes presides over the case. The Law Offices of Joel Schechter serves the Debtor as counsel. STEWARD HEALTH: Trust Seeks Recovery of $22MM From Buyers --------------------------------------------------------- Emlyn Cameron of Law360 Bankruptcy Authority reports that the trust established under Steward Health Care's confirmed Chapter 11 plan has launched a new dispute seeking to recover approximately $22 million it believes was wrongly paid to hospital buyers. The trust asked a Texas bankruptcy court to order the purchasers to remit any funds tied to the contested payments. The trust alleges that the money represents estate property, including accounts receivable and other proceeds connected to assets sold during Steward's bankruptcy. It contends that the buyers may have received payments that should have remained with the bankruptcy estate under the terms approved by the court. The recovery effort comes as the trust continues to identify and pursue assets for the benefit of creditors. If successful, the action could increase the funds available for distributions to parties impacted by Steward's financial collapse and restructuring, the report relays. About Steward Health Care Steward Health Care System, LLC, owns and operates the largest private physician-owned for-profit healthcare network in the U.S. Headquartered in Dallas, Texas, Steward's operations include 31 hospitals in eight states, approximately 400 facility locations, 4,500 primary and specialty care physicians, 3,600 staffed beds, and nearly 30,000 employees. Steward Health Care provides care to more than two million patients annually. Steward and 166 affiliated debtors filed Chapter 11 petitions (Bankr. S.D. Texas Lead Case No. 24-90213) on May 6, 2024. Judge Christopher M. Lopez oversees the proceeding. The Debtors tapped Weil, Gotshal & Manges, LLP as bankruptcy counsel; McDermott Will & Emery as special corporate and regulatory counsel; AlixPartners, LLP as financial advisor and John Castellano of AlixPartners as chief restructuring officer. Lazard Freres & Co. LLC, Leerink Partners LLC, and Cain Brothers, a division of KeyBanc Capital Markets Inc., provide investment banking services to the Debtors. Kroll is the claims agent. Susan N. Goodman has been appointed as patient care ombudsman in the Debtors' Chapter 11 cases. TEAM SYSTEMS: Ch. 7 Trustee Seeks Default Judgment -------------------------------------------------- Emily Lever of Law360 Bankruptcy Authority reports that a Chapter 7 trustee for Team Systems has urged a Delaware bankruptcy court to sanction opposing parties and issue a default judgment in an adversary proceeding tied to the government contractor’s bankruptcy case. The trustee claims the defendants have repeatedly failed to participate in the litigation process. According to court filings, the trustee alleges discovery violations and disregard for prior court directives, which he says have obstructed the orderly administration of the estate. The sanctions request is intended to compel compliance or secure judgment. The outcome could determine liability without further litigation, potentially accelerating asset recovery efforts for creditors in the Chapter 7 case, according to report. About Team Systems International Formed in 2001, Team Systems International LLC is a small business serving the United States government as a contractor with offices in Lewes, Del. and Ponte Vedra Beach, Fla. TSI has performed government projects as a prime contractor and subcontractor in the areas of program management, financial and contracts management, tactical and specialized military training development, naval ordinance engineering, information systems design and integration, military firearms training, Department of State overseas foreign officer training, vehicle or weapons platform simulation, training center or classroom A/V system integration, force protection services, maritime security, and administrative staffing for government projects. Team Systems International sought Chapter 11 bankruptcy protection (Bankr. D. Del. Case No. 22-10066) on Jan. 18, 2022, listing up to $50 million in assets and up to $10 million in liabilities. Deborah Devans Mott, member, signed the petition. Jamie L. Edmonson, Esq., at Robinson & Cole LLP, was the Debtor's legal counsel. The case was converted to Chapter 7 on March 31, 2022. George L. Miller is the Chapter 7 trustee. THOMAS TRIO: Court Extends Cash Collateral Access to July 22 ------------------------------------------------------------ The Thomas Trio, LLC received another extension from the U.S. Bankruptcy Court for the Middle District of Florida to use cash collateral. Under the third interim order, the Debtor is authorized to use funds for court-approved expenses, Subchapter V trustee payments, and operating expenses listed in the latest budget, subject to a 10% variance for each line item. The order granted creditors with interests in cash collateral replacement liens, with the same validity and priority as their pre-petition liens without additional filings. Additional safeguards include insurance coverage and access to business records and premises. A continued hearing is scheduled for July 22. A copy of the court's order and the Debtor's budget is available at https://urlcurt.com/u?l=QssvC3 from PacerMonitor.com. About The Thomas Trio LLC The Thomas Trio LLC, a company based in Zephyrhills, Florida, operates three franchise territories under the Mr. Electric brand: Mr. Electric of Land O' Lakes, Mr. Electric of Lakeland and Mr. Electric of Roswell - Alpharetta, providing electrical installation and repair services to residential and commercial customers. The company maintains franchise relationships with Neighborly and holds separate franchise obligations tied to territories including Land O Lakes, Lakeland, Riverview and Roswell. Thomas Trio filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-02189) on March 20, 2026, listing assets of between $500,000 and $1 million and liabilities of between $1 million and $10 million. Melissa Thomas, president of Thomas Trio, signed the petition. Judge Luis Ernesto Rivera II oversees the case. The Debtor is represented by Scott A. Stichter, Esq., at Stichter, Riedel, Blain & Postler, PA. Amy Denton Mayer of Stichter Riedel Blain & Postler, P.A. serves as Subchapter V trustee for the Debtor. TOLLANIS TECHNOLOGY: Case Summary & Eight Unsecured Creditors ------------------------------------------------------------- Debtor: Tollanis Technology Solutions, Inc. f/k/a Tollanis International Inc. d/b/a Smarter Call Center Solutions 762A S Military Trail Deerfield Beach, FL 33442 Business Description: Tollanis Solutions Inc. is a Veteran-Owned Small Business based in Deerfield Beach, Florida. The company provides managed IT services, contact center solutions, healthcare credentialing, travel technology, digital transformation, and automation services. Tollanis Solutions serves customers in healthcare, government, travel, entertainment, retail and ecommerce, and manufacturing. Chapter 11 Petition Date: June 19, 2026 Court: United States Bankruptcy Court Southern District of Florida Case No.: 26-18089 Debtor's Counsel: Chad Van Horn, Esq. VAN HORN LAW GROUP, P.A. 500 NE 4th Street, Suite 200 Fort Lauderdale, FL 33301 Tel: (954) 765-3166 Email: chad@cvhlawgroup.com Total Assets: $183,304 Total Liabilities: $2,094,756 The petition was signed by Stephen Smith as president. A full-text copy of the petition, which includes a list of the Debtor's eight unsecured creditors, is available for free on PacerMonitor at: https://www.pacermonitor.com/view/K3SU4XQ/Tollanis_Technology_Solutions__flsbke-26-18089__0001.0.pdf?mcid=tGE4TAMA TOUCHSTONE LOGISTICS: Stephen Metz Named Subchapter V Trustee ------------------------------------------------------------- The Acting U.S. Trustee for Region 4 appointed Stephen Metz of Offit Kurman, P.A. as Subchapter V trustee for Touchstone Logistics, LLC. Mr. Metz will be paid an hourly fee of $660 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Metz declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Stephen Metz Offit Kurman, P.A. 7501 Wisconsin Avenue, Suite 1000W Bethesda, Maryland 20814 Phone: (240) 507-1723 Email: smetz@offitkurman.com About Touchstone Logistics LLC Touchstone Logistics LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Md. Case No. 26-16358) on June 13, 2026, with $50,001 to $100,000 in assets and $1,000,001 to $10 million in liabilities. Judge Nancy V. Alquist presides over the case. Geri Lyons Chase, Esq. at the Law Office of Geri Lyons Chase represents the Debtor as bankruptcy counsel. TROVE BREWING: Seeks Subchapter V Bankruptcy in Minnesota --------------------------------------------------------- Kirk O'Neil of The Street reports that craft brewery Trove Brewing LLC has entered Chapter 11 bankruptcy as it works to stabilize its finances and reposition the business for future growth. The Burnsville, Minnesota-based brewer filed a Subchapter V case on June 3, listing assets exceeding $99,000 and liabilities of more than $632,000. According to court documents, Choice Bank holds the largest claim against the company at roughly $615,000, while Royal Credit Union is owed approximately $12,270. The debtor received court approval to use cash collateral and maintain payroll and employee benefit obligations while the bankruptcy case proceeds. Trove Brewing continues to operate its brewery and taproom and has scheduled customer events as normal. To strengthen revenue, the company is pursuing partnerships for contract brewing and exploring a new food vendor arrangement intended to increase foot traffic and sales at its facility, the report states. The brewery was launched in 2023 by Jeffrey and Angela Crane, who brought decades of brewing experience to the venture. However, rising ingredient costs, higher labor expenses, and elevated interest rates have created financial challenges for many independent breweries, including Trove, the report relays. About Trove Brewing LLC Trove Brewing LLC is a craft brewery and taproom operator based in Burnsville, Minnesota. Trove Brewing, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Minn. Case No. 26-31864) on June 3, 2026, with up to $100,000 in assets and up to $1 million in liabilities. Angela Crane, company owner, signed the petition. Judge Katherine A. Constantine oversees the case. Mary Sieling, Esq., at Sieling Law, PLLC, represents the Debtor as legal counsel. The U.S. Trustee for Region 12 appointed Steven Nosek, Esq., as Subchapter V trustee for the Debtor. UNCLE NEAREST: Court OKs Sale of Martha's Vineyard -------------------------------------------------- Duane Cross of Observer Contact reports that A federal judge has cleared the sale of a Martha's Vineyard residence owned by an Uncle Nearest-related entity, allowing the court-appointed receiver to complete a $2.595 million transaction. The ruling represents another step in the ongoing receivership established in litigation involving Farm Credit Mid-America and several Uncle Nearest-affiliated entities. The sale price was supported by three independent appraisals valuing the property at $2.6 million. The receiver also received approval to transfer furniture and household items along with the real estate. Following publication of notices and an opportunity for competing bids, no qualifying overbids emerged, and the court determined the sale was in the estate's best interests, the report relays. Company founders Fawn and Keith Weaver objected to the transaction, asserting that the property provided marketing and strategic value beyond its real estate worth. They argued the residence helped support the Uncle Nearest brand and foster important business relationships. The receiver disagreed, emphasizing that the property produced no revenue and was not essential to the company's operations, according to report. Judge Atchley ultimately sided with the receiver, concluding that the costs of maintaining the property outweighed any potential business benefits. However, he directed that proceeds from the sale remain with the receivership estate rather than being distributed to Farm Credit Mid-America while the central dispute in the case continues, the report states. About Uncle Nearest Uncle Nearest Real Estate Holdings, LLC, based in Shelbyville, Tennessee, owns the Nearest Green Distillery, including the building, furniture, equipment, and fixtures used in its operations. Uncle Nearest sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Tenn. Case No. 26-30472) on March 17, 2026. In its petition, the Debtor reports estimated assets between $50 million and $100 million and estimated liabilities between $10 million and $50 million. Honorable Bankruptcy Judge Suzanne H. Bauknight handles the case. The Debtor is represented by Lynn Tarpy, Esq., of Tarpy,Cox, Fleishmann, & Leveille, PLLC. URBAN ONE: CFO Thompson Signs New Employment Deal Through Jan 2029 ------------------------------------------------------------------ Urban One, Inc. announced in a regulatory filing that it entered into a new employment agreement with Chief Financial Officer, Peter D. Thompson. Pursuant to the terms of the Agreement, Mr. Thompson will continue to serve as Executive Vice President and Chief Financial Officer of the Company and Vice President of its wholly-owned subsidiaries through January 6, 2029, unless earlier terminated pursuant to the terms of the agreement. Mr. Thompson will be entitled to an annual base salary of $750,000 and will be eligible for an annual bonus. Mr. Thompson will also receive a signing bonus of $333,333 subject to a pro-rata claw-back if he leaves before the end of the term of the agreement. For each complete calendar year of the term of the Agreement, Mr. Thompson is eligible to receive an annual performance bonus of up to $300,000, with the opportunity to earn up to 132% of the Target Bonus for superior performance. The amount of any Annual Bonus will be based on the achievement of performance goals established by the Company's Chief Executive Officer and Board of Directors. Achievement of at least 90% of the Company's budget for the applicable fiscal year will entitle Mr. Thompson to 50% of the Target Bonus, and achievement of 100% of such performance goals shall result in 100% of the Target Bonus being earned. Subject to satisfaction of the Bonus Threshold, the actual Annual Bonus earned may be greater or less than the Target Bonus with a maximum bonus of up to 132%, as determined by the Compensation Committee in its discretion. Provided that the material weaknesses identified in the Company's Form 10-K for the period ended December 31, 2025, are remediated, at the end of the term of the Agreement, Mr. Thompson is eligible to receive bonus compensation in the amount of $850,000, less any applicable withholdings and authorized deductions. Finally, Mr. Thompson is eligible to receive certain stock-based compensation as follows: (A) With respect to each of the contract years ending January 6, 2026, and January 6, 2027, Mr. Thompson is eligible to receive Class D common stock with an aggregate value of $704,250, less applicable tax withholdings and authorized deductions. The grant for the contract year ending January 6, 2026 is to occur made as soon as practicable after execution of the Agreement, and the grant for the contract year ending January 6, 2027, shall be made no later than January 6, 2027. In addition, for each of the contract years 2026 and 2027, the Company is to grant Mr. Thompson shares Class D common stock and/or options to vest based upon certain performance-based measures with a target value of $234,750. (B) With respect to contract years ending January 6, 2028, and January 6, 2029, Mr. Thompson is eligible to receive Class D common stock with an aggregate value of $469,500, less applicable tax withholdings and authorized deductions. The grants for the contract years ending January 6, 2028, and January 6, 2029, shall be made no later than January 6, 2028, and January 6, 2029, respectively. In addition, for each of the contract years ending January 6, 2028, and January 6, 2029, the Company is to grant Mr. Thompson shares of Class D common stock and/or options to vest based upon certain performance-based measures with a target value of $469,500. All of the performance-based equity awards are subject to metrics, timing and conditions established annually by the Compensation Committee, consistent with those applied to other executive officers. A full text copy of the Agreement is available at https://tinyurl.com/3r63skjy About Urban One Urban One, Inc. operates in the media industry, focusing on content production and distribution across broadcast, digital and other platforms that serve diverse audiences. As of March 31, 2026, the Company had $573.40 million in total assets and $550.40 million in total liabilities, and total stockholders' equity of $23 million. * * * In June 2026, S&P Global Ratings raised its issuer credit rating on Urban One to 'CCC+' from 'SD' (selective default). S&P also raised the issue-level rating on the company's second lien notes to 'CCC+' from 'D'. Given the lower amount of second-lien notes now outstanding, S&P revised the recovery rating to '4' from '5'. The negative outlook reflects the ongoing headwinds Urban One faces from secular and cyclical pressures as well as the potential for us to lower the rating if S&P envisions a default in the next 12 months. Still, S&P expects the company will have sufficient liquidity--supported by its cash and the availability under its asset-based lending (ABL) credit facility--to meet its operating and fixed-charge obligations over the next 12 months. URBAN ONE: Six Directors Elected at Annual Meeting -------------------------------------------------- Urban One, Inc. has announced in a regulatory filing, the results of its 2026 Annual Meeting of Stockholders at which the following proposals were submitted to the stockholders: 1. The election of Terry L. Jones and Brian W. McNeill as Class A directors to serve until the 2027 annual meeting of stockholders or until their successors are duly elected and qualified. 2. The election of Catherine L. Hughes, Alfred C. Liggins, III, B. Doyle Mitchell, Jr. and D. Geoffrey Armstrong as Class B directors to serve until the 2027 annual meeting of stockholders or until their successors are duly elected and qualified. 3. The approval of the Urban One, Inc. 2026 Equity and Performance Incentive Plan. 4. The ratification of the appointment of PricewaterhouseCoopers LLP, as the independent registered public accounting firm for the fiscal year ending December 31, 2026. To be elected, each Class A director nominee must receive the affirmative vote of a plurality of the votes cast by the holders of the Class A common stock. Each Class B director nominees are elected by the holders of Class A common stock and Class B common stock voting together as a single class but each share of Class A common stock is entitled to one vote and each share of Class B common stock is entitled to ten votes. Members of our board of directors are elected by a plurality of votes cast. This means that the nominees that received the most votes cast were elected to the board, even if they did not receive a majority of votes cast. At the close of business on May 1, 2026 there were 615,000 outstanding shares of our Class A common stock and 286,183 outstanding shares of our Class B common stock. Accordingly, a total of 3,476,830 votes could be cast at the meeting. Class C and Class D common stock were not entitled to vote on any proposal presented at the meeting. The number of votes cast for and against and the number of abstentions and non-votes with respect to each matter voted upon are set forth below: PROPOSAL 1 & 2: Board of Director Election Results Class A Director Nominees 1. Terry L. Jones * Votes For: 218,773 * Votes Withheld: 45,583 * Non-Votes: 216,776 2. Brian W. McNeill * Votes For: 218,694 * Votes Withheld: 45,662 * Non-Votes: 216,776 Class B Director Nominees 3. Catherine L. Hughes * Votes For: 3,082,577 * Votes Withheld: 43,609 * Non-Votes: 216,776 4. Alfred C. Liggins, III * Votes For: 3,084,113 * Votes Withheld: 42,073 * Non-Votes: 216,776 5. B. Doyle Mitchell, Jr. * Votes For: 3,083,446 * Votes Withheld: 42,740 * Non-Votes: 216,776 6. D. Geoffrey Armstrong * Votes For: 3,081,780 * Votes Withheld: 44,406 * Non-Votes: 216,776 All six nominees were elected to the Board of Directors and will serve as directors until our next annual meeting or until their respective successors are elected and qualified. PROPOSAL 3: Approval of the Urban One, Inc. 2026 Equity and Performance Incentive Plan The results of the voting included 3,083,564 votes for, 41,890 votes against, and 217,508 votes abstained. PROPOSAL 4: Ratification of PricewaterhouseCoopers LLP as independent registered public accounting firm The results of the voting included 3,336,914 votes for, 2,541 votes against, and 3,507 votes abstained. The appointment was ratified. About Urban One Urban One, Inc. operates in the media industry, focusing on content production and distribution across broadcast, digital and other platforms that serve diverse audiences. As of March 31, 2026, the Company had $573.40 million in total assets and $550.40 million in total liabilities, and total stockholders' equity of $23 million. * * * In June 2026, S&P Global Ratings raised its issuer credit rating on Urban One to 'CCC+' from 'SD' (selective default). S&P also raised the issue-level rating on the company's second lien notes to 'CCC+' from 'D'. Given the lower amount of second-lien notes now outstanding, S&P revised the recovery rating to '4' from '5'. The negative outlook reflects the ongoing headwinds Urban One faces from secular and cyclical pressures as well as the potential for us to lower the rating if S&P envisions a default in the next 12 months. Still, S&P expects the company will have sufficient liquidity--supported by its cash and the availability under its asset-based lending (ABL) credit facility--to meet its operating and fixed-charge obligations over the next 12 months. WAKESTONE ENTERPRISES: Commences Chapter 7 Bankruptcy in N.C. ------------------------------------------------------------- On June 17, 2026, Wakestone Enterprises, Inc. filed for Chapter 7 protection in the U.S. Bankruptcy Court for the Eastern District of North Carolina. According to court filings, the debtor reports between $100,001 and $1 million in debt. The number of creditors was not disclosed in the available filing. A meeting of creditors under Section 341(a) to be held on July 13, 2026 At 09:30 AM At Zoom 341 Meeting Raleigh. About Wakestone Enterprises, Inc. Wakestone Enterprises, Inc. is a corporation. Additional details regarding the company's business operations were not disclosed in the bankruptcy petition. Wakestone Enterprises, Inc. sought relief under Chapter 7 of the U.S. Bankruptcy Code (Bankr. Case No. 26-02730) on June 17, 2026. In its petition, the debtor reported estimated assets of between $0 and $100,000 and estimated liabilities of between $100,001 and $1 million. Honorable Bankruptcy Judge Pamela W. McAfee handles the case. The debtor is represented by Danny Bradford of Paul D. Bradford, PLLC. WESTSIDE TOW: Seeks to Use Cash Collateral Until Sept. 30 ---------------------------------------------------------- Westside Tow & Transport, Inc. asks the U.S. Bankruptcy Court for the Central District of California, Northern Division, for authority to use cash collateral through the earlier of plan confirmation or September 30, subject to budget compliance with a 10% variance. The Debtor identifies the Small Business Administration and Harvest Small Business Finance as the entities with interests in the cash collateral and proposes to use such funds in the ordinary course of business, including payment of employee wages, benefits, utilities, taxes, insurance, repossession costs, and professional fees necessary to support operations and reorganization efforts. The Debtor asserts that adequate protection will be provided through replacement liens in its post-petition assets, and in certain respects these protections may constitute an allowed superpriority administrative expense under 11 U.S.C. section 507(b). It also notes that prior adequate protection payments have already been made to secured creditors, including the SBA, since October 2025. The Debtor describes its business as a specialized towing and transportation company servicing major automotive clients, operating with 13 employees and owning real property in Riverside, California, with total asset value not exceeding approximately $3.1 million. It argues that continued access to cash collateral is essential to preserve going-concern value, maintain customer relationships, and avoid irreparable harm, as without such access it would be unable to operate, collect receivables, or pursue reorganization. A copy of the motion is available at https://urlcurt.com/u?l=TW8lU7 from PacerMonitor.com. About Westside Tow & Trucking Inc. Westside Tow & Trucking Inc. is a Los Angeles area towing and trucking company. Westside Tow & Trucking sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Calif. Case No. 25-11352) on October 8, 2025. In its petition, the Debtor reported between $1 million and $10 million in assets and liabilities. Honorable Bankruptcy Judge Ronald A. Clifford III handles the case. The Debtor is represented by Tamar Terzian, Esq., of Terzian Law Group, APC. WORKFORCE RESOURCE: Gets Interim OK to Use Cash Collateral ---------------------------------------------------------- Workforce Resource & Management Group, LLC 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 to pay the expenses set forth in its budget through the conclusion of the final hearing. The Debtor's cash collateral consists of cash and proceeds of accounts receivable, subject to security interests held by creditors including Bankers Healthcare Group, Mulligan Funding, and OnDeck Capital. The Debtor asserts these creditors are adequately protected because the business is generating positive cash flow and is expected to improve, thereby preserving collateral value. The court scheduled a final hearing for July 14 and set a June 30 deadline for filing objections. The order is available at https://is.gd/KlWe0j from PacerMonitor.com. About Workforce Resource & Management Group Workforce Resource & Management Group, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. C.D. Calif. Case No. 26-15733) on June 8, 2026, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Judge Neil W. Bason presides over the case. Frank J. Alvarado, Esq., at Alvarado Law represents the Debtor as bankruptcy counsel. M. Douglas Flahaut serves as Subchapter V trustee for the Debtor. WORKHORSE GROUP: Amends Credit Deals, Adjusts Commitments --------------------------------------------------------- Workhorse Group Inc. amended two credit agreements, increasing its cash flow credit commitment by $10.00 million while reducing a customer order credit commitment by the same amount, according to a Form 8-K. The June 16 omnibus amendment raises the cash flow credit agreement's commitment to $30.00 million from $20.00 million and lowers the customer order credit agreement's commitment to $20.00 million from $30.00 million. Both credit agreements, dated Dec. 15, 2025, involve Workhorse as borrower, certain subsidiaries as guarantors and Motive GM Holdings II LLC as lender. The amendment also defers interest payments on the added $10.00 million cash flow commitment until the first interest payment date after Sept. 30, 2026. Workhorse said it is obligated to issue warrants to purchase equity interests in the company within 45 days of executing the amendment, or a later date agreed by the lender, with terms and number to be mutually agreed. About Workhorse Group Inc. Workhorse Group Inc. is a North American manufacturer of medium-duty electric trucks and buses. The company focuses on sustainable, cost-effective commercial transportation and designs and manufactures all-electric vehicles and technology that optimizes vehicle operation. Its vehicles are aimed at last-mile delivery, medium-duty operations and specialized applications, and it manufactures Class 5/6 commercial delivery vehicles at its Union City, Indiana, facility. In an audit report dated March 31, 2026, Carr, Riggs & Ingram, L.L.C. included a going concern qualification, stating that the company had recurring losses from operations, a working capital deficiency and an accumulated deficit. The conditions raised substantial doubt about the company's ability to continue as a going concern. As of March 31, 2026, the company reported total assets of $102.74 million, total liabilities of $76.54 million and total stockholders' equity of $26.19 million. ZYTOUN GOURMET: Case Summary & 11 Unsecured Creditors ----------------------------------------------------- Debtor: Zytoun Gourmet Mediterranean, Inc. 881 W. Harbor Dr. San Diego, CA 92101 Business Description: Zytoun Gourmet operates a Mediterranean dining restaurant in San Diego, California. The company offers dine-in service, online ordering and takeout, reservations, catering, gift cards, and rewards. Chapter 11 Petition Date: June 19, 2026 Court: United States Bankruptcy Court Southern District of California Case No.: 26-02620 Judge: Hon. J Barrett Marum Debtor's Counsel: Steven E. Cowen, Esq., Esq. S.E. COWEN LAW 333 H Street, Suite 5000 Chula Vista, CA 91910 Tel: 619-202-7511 Email: Cowen.steve@secowenlaw.com Total Assets: $164,811 Total Liabilities: $1,060,956 The petition was signed by Hamdi Abukhalaf 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/WAHCSXQ/Zytoun_Gourmet_Mediterranean_Inc__casbke-26-02620__0001.0.pdf?mcid=tGE4TAMA ZYTOUN GOURMET: Seeks Chapter 11 Bankruptcy in California --------------------------------------------------------- On June 19, 2026, Zytoun Gourmet Mediterranean, Inc. filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of California. According to court filings, the debtor reports between $1 million and $10 million in debt owed to between 1 and 49 creditors. The Chapter 11 plan and disclosure statement must be filed by October 19, 2026. About Zytoun Gourmet Mediterranean, Inc. Zytoun Gourmet Mediterranean, Inc. is a restaurant company specializing in Mediterranean cuisine. The company operates in the food service industry, offering Mediterranean-inspired dishes and dining services to its customers. 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Case No. 26-11725 Chapter 11 Petition filed June 11, 2026 represented by: Anthony Bush, Esq. In re Christopher Taylor Ward and Jessica S. Ward Bankr. S.D. Ala. Case No. 26-20184 Chapter 11 Petition filed June 11, 2026 represented by: Anthony Bush, Esq. In re FTFM Inc. Bankr. E.D.N.Y. Case No. 26-72292 Chapter 11 Petition filed June 5, 2026 See https://www.pacermonitor.com/view/PQEPRJA/FTFM_INC__nyebke-26-72292__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Max Rahaman Realty LLC Bankr. E.D.N.Y. Case No. 26-42795 Chapter 11 Petition filed June 5, 2026 See https://www.pacermonitor.com/view/547VCWQ/Max_Rahaman_Realty_LLC__nyebke-26-42795__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re 540 Theodore LLC Bankr. E.D.N.Y. Case No. 26-42790 Chapter 11 Petition filed June 5, 2026 See https://www.pacermonitor.com/view/5CNCNLQ/540_Theodore_LLC__nyebke-26-42790__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re 68 Maple LLC Bankr. S.D.N.Y. Case No. 26-22567 Chapter 11 Petition filed June 4, 2026 See https://www.pacermonitor.com/view/ML5NKDA/68_Maple_LLC__nysbke-26-22567__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Select Alternative Home Choice 3, LLC Bankr. D. Md. Case No. 26-15960 Chapter 11 Petition filed June 4, 2026 See https://www.pacermonitor.com/view/K2MRSII/Select_Alternative_Home_Choice__mdbke-26-15960__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re 361 S 1st Street Corp. Bankr. E.D.N.Y. Case No. 26-72271 Chapter 11 Petition filed June 4, 2026 See https://www.pacermonitor.com/view/3HRHRJY/361_S_1st_Street_Corp__nyebke-26-72271__0001.0.pdf?mcid=tGE4TAMA represented by: Ernest Saasto, Esq. ERNEST OWEN SAASTO, ESQ. E-mail: eosliny@aol.com In re BTB Pizza Inc. Bankr. W.D.N.Y. Case No. 26-20422 Chapter 11 Petition filed June 4, 2026 See https://www.pacermonitor.com/view/WRL7GYQ/BTB_Pizza_Inc__nywbke-26-20422__0001.0.pdf?mcid=tGE4TAMA represented by: Raymond C. Stilwell, Esq. LAW OFFICES OF RAYMOND C. STILWELL E-mail: rcstilwell@roadrunner.com In re The Art of Styles Beauty Shop Bankr. D. Md. Case No. 26-16003 Chapter 11 Petition filed June 4, 2026 See https://www.pacermonitor.com/view/NPUC7MQ/The_Art_of_Styles_Beauty_Shop__mdbke-26-16003__0001.0.pdf?mcid=tGE4TAMA represented by: Iris Kwon, Esq. BANKRUPTCY NEAR ME E-mail: iris@bankruptcynearme.org In re 4916 Linder Ave LLC Bankr. N.D. Ill. Case No. 26-09744 Chapter 11 Petition filed June 9, 2026 See https://www.pacermonitor.com/view/W5PA7SA/4916_Linder_Ave_LLC__ilnbke-26-09744__0001.0.pdf?mcid=tGE4TAMA represented by: David P. Lloyd, Esq. DAVID P. LLOYD, LTD E-mail: courtdocs@davidlloydlaw.com In re Sunil Mirpuri and Karishma Mirpuri Bankr. E.D.N.Y. Case No. 26-72383 Chapter 11 Petition filed June 12, 2026 represented by: Marc Pergament, Esq. In re David I Vilensky and Daria Vilensky Bankr. W.D. Wash. Case No. 26-11940 Chapter 11 Petition filed June 11, 2026 represented by: Thomas Neeleman, Esq. In re Yolande Ndjewel Bankr. E.D. Va. Case No. 26-11426 Chapter 11 Petition filed June 12, 2026 represented by: Jonathan Vivona, Esq. In re Angela Marie Landis Bankr. M.D. Fla. Case No. 26-05076 Chapter 11 Petition filed June 12, 2026 represented by: Buddy Ford, Esq. In re Cesar Cisneros and Audrey Cisernos Bankr. S.D. Tex. Case No. 26-50084 Chapter 11 Petition filed June 12, 2026 represented by: Robert Newark, Esq. In re Aparna Vashisht Rota Bankr. S.D. Calif. Case No. 26-02553 Chapter 11 Petition filed June 12, 2026 In re James A. Moore and Desiree D. Moore Bankr. D. Ore. Case No. 26-61627 Chapter 11 Petition filed June 12, 2026 represented by: Keith Boyd, Esq. In re Abel Villalpando, Sr. and Bonnie Marie Villalpando Bankr. C.D. Calif. Case No. 26-11830 Chapter 11 Petition filed June 12, 2026 represented by: Marc Duxbury, Esq. In re Key Point Arkansas, LLC Bankr. E.D. Ark. Case No. 26-12265 Chapter 11 Petition filed June 8, 2026 See https://www.pacermonitor.com/view/YYXG4MY/Key_Point_Arkansas_LLC__arebke-26-12265__0001.0.pdf?mcid=tGE4TAMA represented by: Cecille Doan, Esq. LAW OFFICES OF CECILLE DOAN, LLC E-mail: cecille@cashanddoan.com In re Workforce Resource & Management Group, LLC Bankr. C.D. Calif. Case No. 26-15733 Chapter 11 Petition filed June 8, 2026 See https://www.pacermonitor.com/view/VVICIRA/Workforce_Resource__Management__cacbke-26-15733__0001.0.pdf?mcid=tGE4TAMA represented by: Frank Alvarado, Esq. ALVARADO LAW E-mail: frank@alvaradolawgroup.com In re Be Union LLC Bankr. E.D.N.Y. Case No. 26-42858 Involuntary Chapter 11 Petition filed June 8, 2026 See https://www.pacermonitor.com/view/WGCYEJI/BE_UNION_LLC__nyebke-26-42858__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Be Greenbriar LLC Bankr. E.D.N.Y. Case No. 26-42859 Chapter 11 Petition filed June 8, 2026 See https://www.pacermonitor.com/view/WKL2XXY/BE_GREENBRIAR_LLC__nyebke-26-42859__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re 903 Realty NY LLC Bankr. E.D.N.Y. Case No. 26-42877 Chapter 11 Petition filed June 11, 2026 See https://www.pacermonitor.com/view/ZD4J3AQ/903_Realty_NY_LLC__nyebke-26-42877__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Stardom Construction, L.L.C. Bankr. W.D. La. Case No. 26-80399 Chapter 11 Petition filed June 11, 2026 See https://www.pacermonitor.com/view/NIFT7HY/Stardom_Construction_LLC__lawbke-26-80399__0001.0.pdf?mcid=tGE4TAMA represented by: Thomas R. Willson, Esq. ROCKY WILLSON LAW OFFICE E-mail: rocky@rockywillsonlaw.com In re Delta Steel Construction, Inc. Bankr. E.D. Calif. Case No. 26-23367 Chapter 11 Petition filed June 11, 2026 See https://www.pacermonitor.com/view/QXVEWNA/Delta_Steel_Construction_Inc__caebke-26-23367__0001.0.pdf?mcid=tGE4TAMA represented by: David C. Johnston, Esq. DAVID C. JOHNSTON Email: david@johnstonbusinesslaw.com In re 109-16 34th Ave Corp. Bankr. E.D.N.Y. Case No. 26-42900 Chapter 11 Petition filed June 11, 2026 See https://www.pacermonitor.com/view/MUSJUVY/109-16_34th_Ave_Corp__nyebke-26-42900__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Heartland Electric LLC Bankr. S.D. Ala. Case No. 26-11710 Chapter 11 Petition filed June 11, 2026 See https://www.pacermonitor.com/view/OTU43VI/Heartland_Electric_LLC__alsbke-26-11710__0001.0.pdf?mcid=tGE4TAMA represented by: Barry A Friedman, Esq. BARRY A FRIEDMAN & ASSOCIATES, PC E-mail: bky@bafmobile.com In re Oz Roofing Commercial & Residential Services, LLC Bankr. E.D.N.C. Case No. 26-02655 Chapter 11 Petition filed June 12, 2026 See https://www.pacermonitor.com/view/E3JLABQ/Oz_Roofing_Commercial__Residential__ncebke-26-02655__0001.0.pdf?mcid=tGE4TAMA represented by: Danny Bradford, Esq. PAUL D. BRADFORD, PLLC E-mail: dbradford@bradford-law.com In re Barre Luxury LLC Bankr. E.D.N.Y. Case No. 26-42897 Chapter 11 Petition filed June 12, 2026 See https://www.pacermonitor.com/view/7BYJCLQ/Barre_Luxury_LLC__nyebke-26-42897__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re 737 Main Bankr. E.D.N.Y. Case No. 26-42899 Chapter 11 Petition filed June 12, 2026 See https://www.pacermonitor.com/view/2W2MFXI/737_Main__nyebke-26-42899__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re PGC Construction, Inc. Bankr. C.D. Calif. Case No. 26-14825 Chapter 11 Petition filed June 14, 2026 See https://www.pacermonitor.com/view/YKMXUEQ/PGC_Construction_Inc__cacbke-26-14825__0001.0.pdf?mcid=tGE4TAMA represented by: Donald W. Reid, Esq. LAW OFFICE OF DONALD W. REID, INC. E-mail: don@donreidlaw.com In re G&M Home Health Care Corp. Bankr. S.D. Fla. Case No. 26-17773 Chapter 11 Petition filed June 15, 2026 See https://www.pacermonitor.com/view/FP4KECQ/GM_Home_Health_Care_Corp__flsbke-26-17773__0001.0.pdf?mcid=tGE4TAMA represented by: Peter Spindel, Esq. PETER SPINDEL, ESQ., P.A. E-mail: peterspindel@gmail.com In re ESW Manufacturing, Inc Bankr. D. P.R. Case No. 26-02717 Chapter 11 Petition filed June 15, 2026 See https://www.pacermonitor.com/view/67WHUBA/ESW_MANUFACTURING_INC__prbke-26-02717__0001.0.pdf?mcid=tGE4TAMA represented by: Gerardo Santiago-Puig, Esq. SANTIAGO-PUIG LAW FIRM E-mail: gsantiagopuig@gmail.com In re Vostochny Bazaar Inc Bankr. E.D.N.Y. Case No. 26-42915 Chapter 11 Petition filed June 15, 2026 See https://www.pacermonitor.com/view/SF6BTAA/Vostochny_Bazaar_Inc__nyebke-26-42915__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Adalberto Steiner Escutia Bankr. C.D. Calif. Case No. 26-11845 Chapter 11 Petition filed June 15, 2026 represented by: John Bauer, Esq. In re Jason Michael White and Carissa Deann White Bankr. M.D. Fla. Case No. 26-05098 Chapter 11 Petition filed June 15, 2026 represented by: Ellen M., Esq. In re Active Spine Physical Therapy, LLC Bankr. D. Neb. Case No. 26-80704 Chapter 11 Petition filed June 15, 2026 See https://www.pacermonitor.com/view/LVGUWKY/Active_Spine_Physical_Therapy__nebke-26-80704__0001.0.pdf?mcid=tGE4TAMA represented by: Patrick R. Turner, Esq. TURNER LEGAL GROUP, LLC E-mail: pturner@turnerlegalomaha.com In re JTBOL Enterprises LLC Bankr. N.D. Tex. Case No. 26-42603 Chapter 11 Petition filed June 12, 2026 See https://www.pacermonitor.com/view/HE3AN2I/JTBOL_Enterprises_LLC__txnbke-26-42603__0001.0.pdf?mcid=tGE4TAMA represented by: Alvin Q Malone, Esq. LAW OFFICES OF AL MALONE, PLLC E-mail: al@maloneattorney.com In re Baylie's Square Incorporated Bankr. M.D. Fla. Case No. 26-05017 Chapter 11 Petition filed June 11, 2026 See https://www.pacermonitor.com/view/4KBOQVA/Baylies_Square_Incorporated__flmbke-26-05017__0001.0.pdf?mcid=tGE4TAMA represented by: Samantha L Dammer, Esq. 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