/raid1/www/Hosts/bankrupt/TCR

/raid1/www/Hosts/bankrupt/TCR_Public/161013.mbx T R O U B L E D C O M P A N Y R E P O R T E R Thursday, October 13, 2016, Vol. 20, No. 286 Headlines 201 NORTH GEORGE: Commission's Bid to Withdraw Reference Denied 39 FRANKLIN REALTY: November 10 Plan Confirmation Hearing Set 611 COMMERCIAL: Plan Proposes to Pay 100% of Claims Within 1 Year AARON HOLZHUETER: U.S. Trustee Forms 5-Member Committee ADELPHIA COMMUNICATIONS: Recovery Trust Declares $8M Distribution ADVANCED ROOFING: Unsecureds to Recoup 16% Under Plan AIM STEEL: Seeks to Hire Falcone Law Firm as Legal Counsel AKO INTERIOR: November 9 Plan Confirmation Hearing AMBASSADOR ENERGY: Plan Confirmation Hearing Continued to Nov. 1 APPALACHIAN MINING: U.S. Trustee Seeks Ch. 11 Trustee Appointment APPLIED SYSTEMS: S&P Retains B CCR on Plans to Pay $171MM Dividend ATNA RESOURCES: Panel Drops Onsager, Hires Buechler as Counsel BAMBI HERRERA-EDWARDS: Disallowance of Moore's $10MM Claim Affirmed BUCKTAIL MEDICAL: Patient Care Ombudsman Files 5th Report BUFFETS LLC: Unsecureds to Get 5% Return Under Joint Plan BUILDERS HOLDING: Taps Godreau & Gonzalez as Legal Counsel CAPE COD COMMERCIAL: November 18 Plan Confirmation Hearing Set CARIBBEAN COMMERCIAL: Seeks U.S. Recognition of Anguillian Case CAROLINE BETH SOMERS: Unsecureds To Recoup 0.9% Under Amended Plan CC SPORTS INJURY: Oct. 21 Hearing on Amended Plan Set CCC OF FAIRPLAY: Ombdusman Files Initial Status Report CERTENEJAS INCORPORADO: Disclosure Statement Hearing on Dec. 6 CHICAGO ROAD: Seeks to Employ Steve Zakic as Accountant CHICAGO ROAD: Seeks to Employ Zakic Financial as Tax Counsel CHOICE HEALTH: Has Until Oct. 14 To Show PCO Not Necessary CIRCLE Z PRESSURE: Case Summary & 20 Largest Unsecured Creditors CITICARE INC: PCO to File 19th Report on Oct. 17 COMMERCIAL FLOOR CARE: Plan Outline to be Heard on Nov. 14 COSI INC: Prepares for 363 Sale Process, Seeks Qualified Bidders DAVID KARMEL: Plan Offers Unsecured Creditors $100 Per Month DIGITALGLOBE: Moody's Retains Ba3 CFR on Radiant Grp Acquisition DM RECORDS: Proposes Warren Trazenfeld as Special Counsel DRM SALES: Plan Outline Okayed, Confirmation Hrg. Set for Nov. 8 E MENDOZA & CO: Seeks to Hire Medina-Rivera as Accountant EDUARDO MENDOZA: Seeks to Hire Medina-Rivera as Accountant ELECTRONIC CIGARETTES: Enters Into Purchase Pact with Hardwire EMMAUS LIFE: Appoints Willis Lee Chief Financial Officer EMMAUS LIFE: Obtains $20 Million from Private Placement EUGENE ARNOLD: Unsecureds To Be Paid in 60 Monthly Installments EXCELIUM MANAGEMENT: Approval of S. Brown as Ch. 11 Trustee Sought FARMHAND SUPPLY: U.S. Trustee Unable to Appoint Committee FRANK CARDELLO: Unsecureds to Recoup 1% within 72 Months FUHU INC: Agrees to Settle NLRB Case by Contractors FUHU INC: Disclosures Okayed; Plan Confirmation Hearing on Nov. 30 GEORGE HENRY: Creditors' Rights Unchanged Under Sept. 30 Plan GF FINANCE: Unsec. Creditors to Be Paid in Full With Interest GLADES BREWERY: Third Amended Disclosure Statement Filed GOODRICH PETROLEUM: Exits Chapter 11 Bankruptcy Process GRANT THORNTON: Louisiana Court Dismisses Securities Claims GREEN COAL: U.S. Trustee Seeks for Ch. 11 Trustee Appointment GRM BAY WASH: Unsecureds to Recover 10% Under Chapter 11 Plan HAJ INC: Seeks to Hire Murphy Armstrong as Special Counsel HOTEL PARK: Voluntary Chapter 11 Case Summary HUGH BAILEY: Plan Outline Okayed; Nov. 22 Confirmation Hrg. Set HUGH WA BAILEY: Ala. DOR to Get $360 for 48 Mos., Plus 4% HUSKY IMS: Moody's Affirms B2 CFR & Rates $160MM Term Loan B2 IMX ACQUISITION: Presents Procedures for L3-Led Sale Process IMX ACQUISITION: Wants $5.7-Mil. DIP Loan From DIP SPV I INNOCENT O. CHINWEZE: Plan Goes to Nov. 15 Confirmation Hearing INTELACLOUD LLC: Plan Confirmation Hearing on Nov. 9 INVERSORA ELECTRICA: Chapter 15 Case Summary IRENE STACY COMMUNITY: Seeks to Hire Wally Yaracs as Auctioneer IREP MONTGOMERY-MRF: Court Delays Appointment of Committee JESUS MISSION CHURCH: Wants to Use Cumberland Presbyterian Cash JILL MARIE MEEUWSEN-HOLMES: Bosco Credit To Get $1.98K in 240 Mos. JOINT VENTURE: U.S. Trustee Seeks for Ch. 11 Trustee Appointment JOSEPH D. JEUDY: Unsecureds to Recoup 51.54% Under Plan JULIET APRIL DANIELS: No Issues Identified, 14th PCO Report Says KEETON HEALTHCARE: Secured Claims Impaired Under 2nd Amended Plan KEITHVILLE WELL: To Sell All Assets to Pay Creditors Under Plan KLEEN LAUNDRY: Gosselin Says Disclosure Statement Incomplete L & R FAMILY: Seeks to Hire Jubilee as Accountant LAKEVIEW PROPERTIES: Susan & Eric Erickson To Retain Interests LANGERMANN'S OF BALTIMORE: Wants to Use Rewards Network Cash LDR INDUSTRIES: Court Confirms Chapter 11 Plan LEARFIELD COMMUNICATIONS: S&P Puts 'B' CCR on CreditWatch Neg. LEN-TRAN INC: Disclosures Conditionally OK'd; Hearing on Nov. 2 LIGHT TOWER: Clearlake Capital Leads Recapitalization LITTLE KENTUCKY: DOJ Watchdog Seeks Appointment of Ch. 11 Trustee LONG BEACH HOMEMAKERS: No PCO Appointment for Oxford Services MARATHON OIL: Moody's Affirms Ba1 CFR & Changes Outlook to Stable MARIA ISAZA: Plan Offers 5% Recovery for Unsec. Creditors MARK STEVENS: U.S. Trustee Seeks Amendments to Plan Outline MARSHA ANN RALLS: Oct. 20 Confirmation Hearing on BWF Plan MATRIX LUXURY: Seeks to Hire NewDelman as Legal Counsel MEDFORD TRUCKING: IRS Objects to Disclosure Statement and Plan MEDFORD TRUCKING: Quality Car Wants Amendment to Plan Outline MICHAEL CAPUZZO: $200 Monthly Income to Pay Off Creditors MICHAEL MCNULTY: Jan. 2017 Plan Confirmation Hearing MIG LLC: Committee Drops Dentons, Hires Sewell as New Counsel MIKE AHMED: Plan Provides No Recovery for Gen. Unsecured Claims NAKED BRAND: To Hold "Say-on-Pay" Votes Triennially NEW BEGINNINGS: PCO Files 4th Report on 13 Facilities NORTEL NETWORKS: Settlement Reached in Fight Over $7.3-Bil. Fund NOVATION COMPANIES: Seeks to Hire Holland as Compliance Counsel OLD TAMPA BAY SEAFOOD: Judge Wants Exit Plan by Oct. 31 OLMOS EQUIPMENT: Approval of R. Osherow as Ch. 11 Examiner Sought PACIFIC DRILLING: Moody's Lowers CFR to Caa3; Outlook Negative PACIFIC EXPLORATION: Closing of Restructuring Expected Oct. 24 PAR TWO INVESTORS: Seeks to Hire Zalkin Revell as Legal Counsel PEEK, AREN'T YOU CURIOUS: Unsecureds To Recover 22% Under Plan PELICAN INLET: Taps Morris and Holmes Kurnik as Special Counsel PIER 1 IMPORTS: Moody's Affirms B1 CFR; Outlook Stable PIONEER HEALTH: Seeks to Hire Horne as Consultant PRODUCER'S LAND: U.S. Trustee Seeks for Ch. 11 Trustee Appointment PRODUCER’S COAL: U.S. Trustee Seeks for Ch. 11 Trustee Appointment Q AND Q REALTY: Taps Robert L. Reda as Legal Counsel QUIKRETE HOLDINGS: S&P Affirms 'BB-' CCR; Outlook Stable REDBUD DOCK: U.S. Trustee Seeks for Ch. 11 Trustee Appointment REMODELING COMPANY: DOJ Watchdog Wants Case Converted to Ch. 7 RESOLUTE ENERGY: Closes Delaware Basin Acquisition for $135M RESOLUTE ENERGY: Completes Fall Borrowing Base Redetermination RITA RESTAURANT: Selling Beer Brewing System to Ager for $53K RYAN ROTH: Oct. 31 Hearing on Amended Plan of Reorganization Set SAAD INC: Proposes Norman Novinsky as Counsel SABBATICAL INC: DOJ Watchdog Seeks Appointment of Ch. 11 Trustee SAMUEL E. HERNANDEZ: Unsecureds to Get 60 Cents Per Dollar SECURED ASSETS: Seeks to Hire Davis Graham as Counsel SENSATA TECHNOLOGIES: S&P Affirms BB CCR; Outlook Revised to Pos. SERTA SIMMONS: Moody's Assigns B1 Rating on New $1.9BB Term Loan SHELBOURNE NORTH: Court Dismisses "Kellher" Suit SILO GOLF: DOJ Watchdog Seeks Appointment of Ch. 11 Trustee SMILES AND GIGGLES: Taps Hernando Property as Property Manager SMITH MOVERS: Unsecureds to Recoup 5% Under Ch. 11 Plan SPD LLC: Voluntary Chapter 11 Case Summary SUSAN RENE CRADDOCK WASHABAUGH: Bid for Leave to Appeal Denied SYCAMORE INVESTMENT: Plan Confirmation Hearing on Nov. 17 SYCAMORE INVESTMENT: Seeks 10-Day Extension of Solicitation TCR III INC: Provides Adequate Care to Residents, PCO Says TECHPRECISION CORP: Obtains $366K Loan from People's Capital TERRILL MANUFACTURING: Wants Interim Use of $705K Cash Collateral TIMOTHY O'BRION: Plan Intends to Pay Unsecureds $10K in 72 Months TRI-STATE FINANCIAL: Investors Loses Appeal from $1.2MM Ruling VANGUARD NATURAL: In Talks with Parties About Potential Financing VEGA ALTA: Case Summary & 20 Largest Unsecured Creditors VICTOR SEIJAS: Disclosures Approved, Confirmation Hearing on Nov. 8 VICTOR SEIJAS: Has Deal with BofA; Amended Plan Filed WALKER III: C. Randel Lewis Named Ch. 11 Examiner WATTENBERG OIL: W. Donald Gieseke Named Chap. 11 Trustee WAYNE CITY, MI: Moody's Lowers Issuer Rating to Ba3; Outlook Neg WENDY ROBERTS: Slow Season for Business in Aug. & Sept., PCO Says WESTPORT HOLDINGS II: U.S. Trustee Forms 3-Member Committee WESTPORT HOLDINGS: Taps Broad and Cassel as Special Counsel WILLIAM MCDANIEL: Unsecureds To Get $50K Over 28 Quarters, Plus 2% XEROX CORP: S&P Affirms 'BB+' Rating on Subordinated Debt YELLOW CAB: David Longyear Appointed to Creditors' Committee ZYLSTRA DAIRY: Hires Dahl Law as Counsel [*] Global Spec.-Grade Default Rate Down in 3rd Qtr., Moody's Says [^] Recent Small-Dollar & Individual Chapter 11 Filings ********* 201 NORTH GEORGE: Commission's Bid to Withdraw Reference Denied --------------------------------------------------------------- In the case captioned MOORING CAPITAL FUND, LLC, a Delaware limited liability company, Plaintiff, v. NEIL J. SULLIVAN, II; JUDY S. SULLIVAN; JENNIFER S. MAGHAN, in her capacity as the Clerk of the County Commission of Jefferson County, West Virginia; and the COUNTY COMMISSION OF JEFFERSON COUNTY, WEST VIRGINIA, Defendants, Civil Action No. 3:16-CV-74(GROH)(N.D.W.V.), Judge Gina M. Groh of the United States District Court for the Northern District of West Virginia, Martinsburg, denied Jefferson County Clerk Jennifer Maghan's and the Jefferson County Commission's Supplemental Motion to Withdraw Reference and denied the remaining pending motions as moot. Mooring initiated the adversary proceeding in the United States Bankruptcy Court for the Northern District of West Virginia. On December 15, 2015, the Bankruptcy Court granted Mooring leave to file an amended complaint, which requests relief in the form of (1) a declaratory judgment finding the Sullivans' 2006 deed of trust subordinate to Middleburg's 2008 deed of trust; (2) a declaratory judgment finding that Middleburg's release of the 2005 deed of trust was based upon a mistake of fact, thereby restoring the first priority of the 2005 deed of trust; (3) a declaratory judgment finding that the Sullivans' 2006 investment was not a loan but a capital contribution, thus nullifying the 2006 deed of trust; (4) equitable subordination of the Sullivans' 2006 deed of trust in light of the their bad faith and inequitable conduct; (5) equitable subordination of the Sullivans' 2006 deed of trust in light of the Clerk's negligence in indexing; (6) equitable subordination of the Sullivans' 2006 deed of trust due to their inequitable and tortious interference with the contractual relationship between Middleburg and the Debtor; and (7) an order pursuant to the West Virginia Governmental Tort Claims and Insurance Reform Act, W. Va. Code Section 29-12A-1 through 29-12A-18, awarding judgment against the Clerk for actual, incidental and compensatory damages, and related attorney's fees, legal expenses and costs. Before the Court is Jennifer Maghan's and the Jefferson County Commission's Supplemental Motion to Withdraw Reference; Mooring Capital Fund, LLC's Motion to Sever and Withdraw Reference; Jennifer Maghan's and the Jefferson County Commission's Motion to Dismiss or, in the Alternative, Motion to Withdraw Reference; and Jennifer Maghan's Motion to Dismiss or, in the Alternative, Motion to Withdraw Reference. Mooring requested that the Bankruptcy Court sever its claim against the Clerk and the Commission from its claims against the Sullivans and, further, that the proceeding against the Clerk and the Commission be removed to the District Court in light of the Clerk's and the Commission's request for a jury trial. In their response, the Clerk and the Commission disagreed that Mooring's claim against them should be severed from the claims against the Sullivans, but instead argued that the Bankruptcy Court adversary proceeding should be removed to this Court in its entirety. The District Court does not find that the underlying bankruptcy proceeding implicates mandatory withdrawal under 28 U.S.C. Section 157(d). As such, it is permitted to exercise its discretion in determining whether the proceeding should nevertheless be removed to this Court pursuant to 28 U.S.C. Section 157(d)'s permissive provision. Upon review of the applicable factors, the Court finds that permissive withdrawal is premature. Accordingly, the Court orders that Jennifer Maghan's and the Jefferson County Commission's Supplemental Motion to Withdraw Reference is denied. The Court further orders that the remaining pending motions are denied as moot. The Court grants the Clerk and the Commission leave to file a renewed motion to withdraw reference following the Bankruptcy Court's final disposition of Mooring's claims against the Sullivans. A full-text copy of the Memorandum Opinion dated September 6, 2016 is available at https://is.gd/GbqRYI from Leagle.com. Mooring Capital Fund, LLC, Plaintiff, is represented by R. Terrance Rodgers, Esq. -- trodgers@kaycasto.com -- Kay, Casto & Chaney, PLLC. Neil J. Sullivan, II, Defendant, is represented by F. Douglas Ross, Esq. -- Douglas.Ross@ofplaw.com -- Odin, Feldman & Pittleman, PC, Kelsey L. Swaim, Esq. -- kelsey.swaim@steptoe-johnson.com -- Steptoe & Johnson, PLLC & Kenneth J. Barton, Jr., Esq. -- kenneth.barton@steptoe-johnson.com -- Steptoe & Johnson, PLLC. Judy S. Sullivan, Defendant, is represented by F. Douglas Ross, Odin, Feldman & Pittleman, PC, Kelsey L. Swaim, Steptoe & Johnson, PLLC & Kenneth J. Barton, Jr., Steptoe & Johnson, PLLC. Jennifer S. Maghan, Defendant, is represented by David L. Wyant, Esq. -- dwyant@baileywyant.com -- Bailey & Wyant, PLLC & Jason P. Pockl, Esq. -- jpockl@baileywyant.com -- Bailey & Wyant, PLLC. County Commission of Jefferson County, West Virginia, Defendant, is represented by David L. Wyant, Bailey & Wyant, PLLC & Jason P. Pockl, Bailey & Wyant, PLLC. 201 NORTH GEORGE STREET, LLC,, Debtor, is represented by Aaron C. Amore, Esq. -- Amore Law, PLLC. 201 North George Street, LLC, sought protection under Chapter 11 of the Bankruptcy Code on March 21, 2014 (Bankr. N.D. W.Va., Case No. 14-00294). The case is assigned to Judge Patrick M. Flatley. The Debtor's counsel is Aaron C. Amore, Esq., at Amore Law, PLLC, in Charles Town, West Virginia. The petition was signed by J. Michael Cassell, manager. A list of the Debtor's three largest unsecured creditors is available for free at http://bankrupt.com/misc/wvnb14-294.pdf 39 FRANKLIN REALTY: November 10 Plan Confirmation Hearing Set ------------------------------------------------------------- Judge Vincent F. Papalia of the U.S. Bankruptcy Court for the District of New Jersey has conditionally approved the disclosure statement explaining 39 Franklin Realty, LLC's combined plan of liquidation. November 3 is fixed as the last day for filing and serving written objections to the Disclosure Statement and confirmation of the Plan. November 3 is also fixed as the last day for filing written acceptances or rejections of the Plan. A hearing will be held on November 10, at 11:00 a.m., for final approval of the Disclosure Statement (if a written objection has been timely filed) and for confirmation of the Plan. About 39 Franklin Realty 39 Franklin Realty, LLC sought Chapter 11 protection (Bankr. D.N.J. Case No. 15-16879) on April 15, 2015. The Debtor estimated assets in the range of $0 to $50,000 and $100,001 to $500,000 in debt. The Debtor tapped Melinda D. Middlebrooks, Esq. at Middlebrooks Shapiro, P.C. as counsel. The petition was signed by John Catelli, president. 611 COMMERCIAL: Plan Proposes to Pay 100% of Claims Within 1 Year ----------------------------------------------------------------- The central theme of 611 Commercial, Inc.'s Chapter 11 Plan, as outlined in its disclosure statement, is the liquidation of its real estate. The Debtor has actively marketed for the sale of two remaining parcels of property -- the 611/Applegate Parcel and Cherry Lane Parcel. The Debtors will continue to market both parties to acquire viable buyers. The Debtor believes that the Plan does not require a complete liquidation of all real estate since the total value of each parcel of property exceeds the value of the remaining claims. As a result, it is very likely that the Debtor will retain a portion of its real estate after the balance of claims of the Debtor are paid or resolved in accordance with the Chapter 11 Plan. Currently, the Debtor's outstanding claims and their remaining claim amounts are: * Internal Revenue Service ($14,901) * Department of Revenue ($600) * Monroe County Tax Claim Bureau ($52,647) * Neil and Nancy Merring ($105,898) * Cisneroff Consulting (Disputed) According to the Debtor, a sale of the 611/Applegate parcel for $550,000 would exceed the total amount of these claims and the sale of the Cherry Lane Parcel for $200,000 would also result in enough income to pay all of the claims in full (100% Plan). Thus, the Debtor is seeking one year from the effective date of the Plan to pay 100% of the outstanding claims. The Debtor also agrees that if the sales strategies are not accomplished within one year of the Plan Effective Date, the Debtor will either auction off the properties, immediately within 60 days, or convert the case to Chapter 7 for liquidation by the Chapter 7 Trustee. A full-text copy of the Disclosure Statement is available at: http://bankrupt.com/misc/pamb14-04173-144.pdf 611 Commercial, Inc. sought Chapter 11 protection (Bankr. M.D. Pa. Case No. 14-04173) on Sept. 9, 2014. The petition was signed by Gerald Gay, president. The Honorable John J. Thomas is assigned to the case. The Debtor estimated assets at $1 million to $10 million and liabilities at $500,000 to $1 million. Philip W. Stock, Esq., at the Law Office of Philip W. Stock serves as the Debtor's counsel. AARON HOLZHUETER: U.S. Trustee Forms 5-Member Committee ------------------------------------------------------- U.S. Trustee Patrick S. Layng on Oct. 11 appointed five creditors of Aaron Holzhueter to serve on the official committee of unsecured creditors. The committee members are: (1) Paul Humphrey S2500 Vanhy Ct. Baraboo, WI 53913 (2) Richard Degner N9398 North Road Watertown, WI 53094 (3) Wendy Lippert 5 Parkview Lane Watertown, WI 53094 (4) Steven and Jill Davy N68 W35866 Hwy K Oconomowoc, WI 53066 (5) John A. Chopyak, Sr. Yvonne Kaempf-Chopyak 703 Belmont Drive Watertown, WI 53094-7726 Aaron Holzhueter filed for Chapter 11 bankruptcy protection (Bankr. W.D. Wis. Case No. 16-13134) on Sept. 12, 2016. Paul G. Swanson, Esq., serves as the Debtor's bankruptcy counsel. ADELPHIA COMMUNICATIONS: Recovery Trust Declares $8M Distribution ----------------------------------------------------------------- The Adelphia Recovery Trust on Oct. 10, 2016, disclosed that its Trustees have declared a distribution of $8 million in cash payable on or about Oct. 25, 2016 to holders of interests in the Trust pursuant to the First Modified Fifth Amended Joint Chapter 11 Plan of Reorganization of Adelphia Communications Corporation and Certain Affiliated Debtors, dated as of January 3, 2007, as Confirmed (the "Plan"). The Trust has established a Record Date for purposes of this distribution of Oct. 18, 2016. A chart summarizing the distribution of cash to be made to each series of interests in the Trust is available in the "Important Documents Adelphia Recovery Trust" section of Adelphia's website at http:www.adelphiarestructuring.com/ Upon distribution, a letter with additional information concerning the distribution will be delivered to holders and will be made available in the "Important Documents Adelphia Recovery Trust" section of Adelphia's Web site at http://www.adelphiarestructuring.com/ The Trust expects to dissolve on December 31, 2016 (the "Dissolution Date") pursuant to the Plan, Declaration of Trust, and the September 22, 2015 court order. After the Dissolution Date, for purpose of liquidating and winding up the affairs of the Trust, the Trustees shall continue to act until the Trustees' duties under the Declaration and the Plan have been fully performed. All funds remaining after the Trust's obligations have been paid (and the winding up process completed) shall be distributed to the Trust Interest Holders. The Trust will be terminated upon completion of the winding up activities. Interest holder inquiries regarding Trust distributions under the Plan should be directed to creditor.inquiries@adelphia.com About Adelphia Recovery Trust The Adelphia Recovery Trust is a Delaware Statutory Trust formed pursuant to the First Modified Fifth Amended Joint Chapter 11 Plan of Reorganization of Adelphia Communications Corporation and Certain Affiliated Debtors, which became effective February 13, 2007. The Trust holds certain litigation claims transferred pursuant to the Plan against various third parties and exists to prosecute the causes of action transferred to it for the benefit of holders of Trust interests. About Adelphia Communications Based in Coudersport, Pennsylvania, Adelphia Communications Corporation was once the fifth-biggest cable company. Adelphia served customers in 30 states and Puerto Rico, and offered analog and digital video services, Internet access and other advanced services over its broadband networks. Adelphia collapsed in 2002 after disclosing that founder John Rigas and his family owed $2.3 billion in off-balance-sheet debt on bank loans taken jointly with the company. Mr. Rigas was sentenced to 12 years in prison, while son Timothy 15 years. Adelphia Communications and its more than 200 affiliates filed for Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 02-41729) on June 25, 2002. Willkie Farr & Gallagher represented the Debtors in their restructuring effort. PricewaterhouseCoopers served as the Debtors' financial advisor. Kasowitz, Benson, Torres & Friedman LLP and Klee, Tuchin, Bogdanoff & Stern LLP represented the Official Committee of Unsecured Creditors. Adelphia Cablevision Associates of Radnor, L.P., and 20 of its affiliates, collectively known as Rigas-Managed Entities, were entities that were previously held or controlled by members of the Rigas family. In March 2006, the rights and titles to these entities were transferred to certain subsidiaries of Adelphia Cablevision LLC. The RME Debtors filed for Chapter 11 protection (Bankr. S.D.N.Y. Case Nos. 06-10622 through 06-10642) on March 31, 2006. Their cases were jointly administered under Adelphia Communications and its debtor-affiliates' Chapter 11 cases. The Bankruptcy Court confirmed the Debtors' Joint Chapter 11 Plan of Reorganization on Jan. 5, 2007. The Plan became effective on Feb. 13, 2007. The Adelphia Recovery Trust, a Delaware Statutory Trust, was formed pursuant to the Plan. The Trust holds certain litigation claims transferred pursuant to the Plan against various third parties and exists to prosecute the causes of action transferred to it for the benefit of holders of Trust interests. Lawyers at Kasowitz, Benson, Torres & Friedman, LLP (NYC), represent the Adelphia Recovery Trust. ADVANCED ROOFING: Unsecureds to Recoup 16% Under Plan ----------------------------------------------------- Advanced Roofing & Woodworking, Inc., filed an amended disclosure statement on October 6, 2016, under which general unsecured claimants will be paid $227,646, or approximately 16% of their total allowed claims. Full payment will be made on administrative expenses, secured debt, and priority unsecured debt, which total $572,354. The quarterly payments to secured claimants and priority claimants total approximately $26,416. For the first 12 quarters of the Plan, the Debtor agrees to provide to the attorney for the unsecured creditors' committee a quarterly summary of cash receipts and disbursements. If cash remains in the Plan Savings Account after payment of the quarterly secured and priority claims, quarterly payments of up to $11,500 will be made to general unsecured claimants. Payments and distributions under the Plan will be funded by the income from business operations. A full-text copy of the Amended Disclosure Statement is available at http://bankrupt.com/misc/ilnb15-27325-190.pdf Advanced Roofing & Woodworking Advanced Roofing & Woodworking, Inc., sought Chapter 11 protection (Bankr. N.D. Ill. Case No. 15-27325) on Aug. 10, 2015, in Chicago. The case is assigned to Judge Jack B. Schmetterer. The Debtor is represented by Teresa L. Einarson, Esq. at Thomas & Einarson LTD. The Debtor estimated $500,000 to $1 million in assets and $1 million to $10 million in debt. The petition was signed by Charles Hankins, president. AIM STEEL: Seeks to Hire Falcone Law Firm as Legal Counsel ---------------------------------------------------------- AIM Steel International, Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to hire legal counsel in connection with its Chapter 11 case. The Debtor proposes to hire The Falcone Law Firm, P.C. to provide legal advice regarding its duties, negotiate with creditors to formulate a plan of reorganization, and assist the Debtor in the sale or disposition of its assets. The firm's professionals and their hourly rates are: Senior Attorneys $350 Associate Attorneys $200 Paralegals $150 Administrative Assistants $50 Ian Falcone, Esq., at Falcone Law Firm, disclosed in a court filing that the firm does not represent any interests adverse to the Debtor's bankruptcy estate. The firm can be reached through: Ian M. Falcone, Esq. The Falcone Law Firm, P.C. 363 Lawrence Street Marietta, GA 30060 Phone: (770) 426-9359 Email: attorneys@falconefirm.com About AIM Steel International AIM Steel International, Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N. D. Ga. Case No. 16-67661) on October 3, 2016. The petition was signed by David Brown, general manager. At the time of the filing, the Debtor disclosed $578,812 in assets and $2.67 million in liabilities. AKO INTERIOR: November 9 Plan Confirmation Hearing -------------------------------------------------- Judge Carla E. Craig of the U.S. Bankruptcy Court for the Eastern District of New York on October 7, 2016, issued an amended order approving AKO Interior LLC's seventh amended disclosure statement and scheduled a hearing for November 9, 2016, at 2:30 p.m., to consider confirmation of the Amended Plan. The Debtor filed its Sixth Amended Plan and Sixth Amended Disclosure Statement dated August 2, 2016. The Court determined after a hearing held on August 3, 2016, that the Disclosure Statement is to be amended and modified to clarify that the capital contributions are to be made for the purpose of purchasing stock furniture, and not for distribution to general unsecured creditors. These changes have been made, and the Seventh Amended Plan and Disclosure Statement were filed on August 12. November 7 is fixed as the last day for filing written objections to confirmation of the Amended Plan. All ballots voting in favor or against the Plan are to be submitted so as to be actually received on or before November 7. Counsel for the Debtor must file a ballot tally and/or affidavit in support of confirmation by November 7. The Troubled Company Reporter previously reported that the Debtor's seventh amended plan provides that Class I general unsecured claims total approximately $113,780.25, and comprise the claims of: Wells Fargo Bank, NA. $18,918.91; Luxe Media Group $5,005.58; Bank of America $18,595.72; American Express Bank, FSB $21,768.25; American Express Bank, FSB $1,037.02; Advanta Credit Cards $15,274.44; Capital One Bank (USA), NA $5,703.79; Citi Business Card $5,857.88; Citi Business Card $11,933.36; Home Depot Credit Service $6,982.25; Staples Credit Plan $2,703.05 Class I Claims will be paid on a pro rata basis at confirmation 30% of their allowed claims. The plan intends to maximize revenue by restructuring the business to focus primarily on commercial interior design working mainly with large hotels. Since the Debtor is no longer primarily reliant on foot traffic and the cyclical, season dependent aspects of the business, the resulting income is both higher and steadier. Alexander Epelbaum as company president, Rostislav Korol as company vice president, and Alexander Marmut as secretary will be contributing personal funds toward the purchase of new furniture stock for the expansion and continued operations of business to confirm the Debtor's Chapter 11 Plan of Reorganization which constitutes new value, in order to retain their equity interest in AKO Interior LLC. The Plan filed on July 12, 2016, proposed for general unsecured creditors to get 26.36% to 52.73% of their claims. The Disclosure Statement dated Aug. 12, 2016, is available at: http://bankrupt.com/misc/nyeb15-42216-95.pdf About AKO Interior AKO Interior LLC filed a Chapter 11 Petition (Bankr. E.D.N.Y. Case No. 15-42216) on May 13, 2015, and is represented by Alla Kachan, Esq. -- alla@kachanlaw.com -- at The Law Offices of Alla Kachan, P.C. The case is assigned to Judge Carla E. Craig. AMBASSADOR ENERGY: Plan Confirmation Hearing Continued to Nov. 1 ---------------------------------------------------------------- The U.S. Bankruptcy Court for the Central District of California originally set the hearing for the Court to determine whether or not to confirm Ambassador Energy, Inc.'s plan of reorganization for August 30, 2016. The Court continued the hearing to September 13. At the hearing, some unresolved matters arose, and the Court continued the hearing to November 1, allowing time for the Debtor to amend the Disclosure Statement and Plan, and as necessary to resolve concerns in the First Amended Disclosure Statement and Plan, including providing for re-balloting as necessary. On November 1 at 1:30 p.m., the Court will consider (1) the final approval of the Second Amended Disclosure Statement, and (2) the confirmation of the Second Amended Plan. Objections to the final approval of the Second Amended Disclosure Statement and confirmation of the Second Amended Plan must be filed no later than October 21. Any ballots cast with regard to the confirmation of the Plan must also be received by no later than October 21. If the Plan is not confirmed on November 1, the Debtor will then move the Court to extend the 45-day deadline of Section 1129(e) of the Bankruptcy Code, in accord with the provisions of Section 1121(e), by demonstrating by a preponderance of the evidence that it is more likely than not that the Plan will be confirmed by the Court within a reasonable period of time, having the Court set a new deadline for confirmation, and have an order timely signed by the Court to that effect. The Debtor's Second Amended Plan provides that payments to holders of Class 5 General Unsecured Claims will be in the amount of $30,000 per month and are expected to begin in July 2018, and will continue until all allowed Class 5 claims are paid in full. Interest will be paid to the Class 5 creditors at the rate of 4% per annum on account of unpaid balances, commencing on the effective date. The Debtor's First Amended Plan provides that holders of Class 4 General Unsecured Claims will receive installment payments will be monthly, commencing after payment in full of the secured creditors in Classes 1 and 3. The payments will be in the amount of $30,000 per month and are expected to start in March 2018, and will continue until all allowed Class 4 claims are paid in full; the final payment may be in an amount less than $30,000. Each payment will be divided proportionally amongst the holders of the claims. Interest will be paid to the Class 4 creditors at the rate of 4% per annum on account of unpaid balances. Class 4 is impaired. The Debtor's original Plan proposed that holders of Class 4 - general unsecured claims, which total $901,267, will recoup 100%. According to the Second Amended Plan, the funds for implementation of the Plan will come from the the funds held by the estate as of the entry of the Confirmation Order and the ongoing operating profits of the Debtor's business operations, the installation and inspection of solar power panels, and related training operations and educational services. About Ambassador Energy Headquartered in Murrieta, California, Ambassador Energy, Inc., dba Ambassador Solar Energy filed for Chapter 11 bankruptcy protection (Bankr. C.D. Calif. Case No. 16-11880) on March 2, 2016, disclosing $0 assets and total liabilities of $1.51 million. The petition was signed by Kelly Smith, president. Judge Scott C Clarkson presides over the case. Robert B. Rosenstein, Esq., at Rosenstein & Associates serves as the Debtor's bankruptcy counsel. APPALACHIAN MINING: U.S. Trustee Seeks Ch. 11 Trustee Appointment ----------------------------------------------------------------- The United States Trustee, Judy A. Robbins, moves the United States Bankruptcy Court for the Southern District of West Virginia to direct the appointment of a Chapter 11 Trustee for Appalachian Mining and Reclamation, LLC. The Debtor is controlled and managed by Zachary B. Burkons, a Special Receiver appointed by Honorable Joanna Tabit through an Order dated August 16, 2016 in the Circuit Court of Kanawha County. When the case was filed on August 31, 2016, the Special Receiver filed a Voluntary Petition that provided the following information: (a) that the Special Receiver did not expect funds available for distribution to unsecure creditors after administrative expenses are paid; (b) there are 100-199 creditors; (c) estimated assets were valued at $0-$50,000; and, (d) liabilities were estimated at $1,000,001-$10,000,000. The U.S. Trustee concerns the pending State Court criminal action against Mr. Burkons for the alleged assault on Dennis Johnson, the sole member of the debtor, that is scheduled for trial on October 20, 2016 in Boyd County, Kentucky. The U.S. Trustee believes that allowing Mr. Burkons to remain in charge of the management and control of the debtor would delay the administration of the case and be detrimental to and not in the best interest of creditors. The U.S. Trustee noted that an independent Chapter 11 Trustee can assess the prospects for rehabilitation and can liquidate or otherwise administer estate assets and pursue estate causes of action in the interests of the creditors. About Appalachian Mining On May 18, 2016, the Circuit Court Judge entered an Order appointing a special receiver in certain of Deenis Ray Johnson's entities. A substitute special receiver, Zachary Burkons, was ultimately appointed on August 15, 2016. The successor special receiver filed Chapter 11 petitions for Appalachian Mining and Reclamation, LLC, Green Coal, LLC, Joint Venture Development, LLC, Producers Coal, Inc., Producers Land, LLC, and Redbud Dock, LLC. Appalachian Mining and Reclamation, LLC's bankruptcy case is Case No. 16-30400 (Bankr. S.D. W.Va.). Dennis Ray Johnson is a businessman with ownership interests in at least 10 entities. He operates various rental real estate entities and coal associated operations. Mr. Johnson is a member of each of the following debtor companies -- Appalachian Mining and Reclamation, LLC, DJWV1, LLC, DJWV2, LLC, Elkview Reclamation and Processing, LLC, Green Coal, LLC, Joint Venture Development, LLC, Little Kentucky Elk, LLC, Moussie Processing, LLC, Producer's Coal, Inc., Producer's Land, LLC, Redbud Dock, LLC, Southern Marine Services, LLC, Southern Marine Terminal, LLC, and The Silo Golf Course, LLC -- and has filed a motion asking the Bankruptcy Court to jointly administer the bankruptcy cases. Mr. Johnson is also a guarantor of the debt for most of the companies. APPLIED SYSTEMS: S&P Retains B CCR on Plans to Pay $171MM Dividend ------------------------------------------------------------------ S&P Global Ratings said that Chicago-based property and casualty management software provider Applied Systems Inc.'s intention to pay a $171 million dividend to its private equity shareholder Hellman and Friedman has no immediate ratings impact. Applied Systems plans to fund the dividend with a $150 million add-on to its first-lien term loan facility due 2021 and $25 million draw from its cash balance. The issue-level rating on the first-lien debt remains 'B+'. The recovery rating is '2', indicating S&P's expectation for substantial recovery (70%-90%; lower end of the range) in the event of a payment default. The stable outlook reflects S&P's expectation that Applied Systems will maintain its market position as one of two leading players in the property and casualty insurance broker management software industry. Additionally, S&P expects that the company's revenues will continue to increase by mid-single-digit percentages on an organic basis in 2016 and 2017 and operating margins will remain steady at about 30%, leading to EBITDA sustaining in excess of $150 million annually and modest improvements in credit measures over the next 12 months. S&P expects leverage pro forma for the dividend and Aug. 6, 2016, acquisition of Relay Software will increase to about 7.7x from about 7.3x as of June 30, 2016. S&P could lower the rating if the company were to maintain debt to EBITDA of more than 8x on a sustained basis, potentially due to debt-financed acquisitions or to dividends. S&P do not view increased competition or market share losses as significant risks in the near term given the company's high retention rates and limited customer concentration. Although an upgrade is unlikely given the company's high leverage, limited scale, and private equity ownership, S&P could upgrade the company if it were to adopt a financial policy that commits to maintaining debt to EBITDA of less than 5x on a sustained basis. RECOVERY ANALYSIS Key analytical factors S&P estimates that, for the company to default, EBITDA would need to decline significantly as a result of competitor incursion, with significant pricing pressure and client attrition. S&P has valued the company on a going-concern basis using a 6x multiple of its projected emergence EBITDA. Simulated default assumptions -- Simulated year of default: 2019 -- EBITDA at emergence: $106 million -- EBITDA multiple: 6x Simplified waterfall -- Net enterprise value (after 5% administrative costs): $634 million -- Valuation split in % (obligors/non-obligors) 100/0 -- Collateral value available to first-lien creditors: $602 million -- First-lien debt: $844 million -- Recovery expectations: 70% to 90% (lower half of the range) -- Second-lien debt: $404 million -- Recovery expectations: 0% to 10% RATINGS LIST Applied Systems Inc. Corporate Credit Rating B/Stable/-- Senior Secured B+ Recovery Rating 2L ATNA RESOURCES: Panel Drops Onsager, Hires Buechler as Counsel -------------------------------------------------------------- The official committee of unsecured creditors of Atna Resources, Inc. has filed an application seeking court approval to hire Buechler & Garber LLC as its new legal counsel. In its application filed with the U.S. Bankruptcy Court for the District of Colorado, the committee proposed to substitute Onsager, Guyerson, Fletcher & Johnson with the Denver-based law firm. The move came after the committee's primary attorney Michael Guyerson left Onsager and moved to Buechler & Garber. Buechler & Garber will be paid on an hourly basis for its services. The firm's professionals and their hourly rates are: Michael Guyerson $350 Kenneth Buechler $350 Associate $200 Paralegals $105 In a court filing, Mr. Guyerson disclosed that Buechler & Garber is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Michael J. Guyerson, Esq. Buechler & Garber LLC 999 Eighteeth Street, Suite 1230-S Denver, Colorado 80202 Phone: 720-381-0045 Fax: 720-381-0382 Email: mike@bandglaw.com About Atna Resources Headquartered in Lakewood, Colorado, Atna Resources Ltd. -- http://www.atna.com/-- is engaged in all phases of the mining business, including exploration, preparation of pre-feasibility and feasibility studies, permitting, construction and development, operation and final closure of mining properties. The Company owns or controls various properties with gold resources. The Company's production property includes Briggs Mine California and Pinson Mine Property, Nevada. The Company's development properties include Mag Pit at Pinson; Columbia Project, Montana and Briggs Satellite Projects, California. Its Exploration properties include Sand Creek Uranium Joint Arrangement, Wyoming; Blue Bird Prospect, Montana and Canadian Properties, Yukon and British Columbia. Its Closure Property is Kendall, Montana. The Briggs mine is located on approximately 156 unpatented claims, including approximately 15 mill site claims, covering over 2,890 acres. The Company's Pinson Mine Property is located in Humboldt County, Nevada, over 30 miles east of Winnemucca. Atna Resources, Inc. and its direct and indirect subsidiaries filed Chapter 11 bankruptcy petitions (Bankr. D. Colo. Proposed Lead Case No. 15-22848) on Nov. 18, 2015. The petitions were signed by Rodney D. Gloss as vice president & chief financial officer. Atna also sought ancillary relief in Canada pursuant to the Companies' Creditors Arrangement Act in the Supreme Court of British Columbia in Vancouver, Canada. In its Chapter 11 petition, Atna estimated assets in the range of $10 million to $50 million and liabilities of $50 million to $100 million. Squire Patton Boggs (US) LLP serves as counsel to the Debtors. On Dec. 14, 2015, the Office of the United States Trustee for the District of Colorado appointed a statutory committee of unsecured creditors in the Chapter 11 Cases. BAMBI HERRERA-EDWARDS: Disallowance of Moore's $10MM Claim Affirmed ------------------------------------------------------------------- In the case captioned ERIC L. MOORE, Appellant, v. BAMBI HERRERA-EDWARDS, Appellee, Case No. 8:15-CV-447-EAK (M.D. Fla.), Judge Elizabeth A. Kovachevich of the United States District Court for the Middle District of Florida, Tampa Division, affirmed the bankruptcy judge's order and denied Moore's Emergency Motion to Report Fraud. This matter comes before the Court pursuant to Mr. Moore's appeal from an order disallowing a $10-million claim that he filed in Bambi Herrera-Edwards' bankruptcy case. On January 29, 2015, the bankruptcy judge entered a final judgment in the adversary proceeding that: (1) disallowed Moore's claim, and (2) awarded $45,000.00 to Herrera-Edwards on her claims for fraudulent inducement and unjust enrichment. Also on January 29, 2015, the bankruptcy judge entered an order in the bankruptcy case that disallowed Moore's claim. As Herrera-Edwards recognizes, the order entered in the bankruptcy case was essentially a ministerial act to implement the final judgment from the adversary proceeding. Moore filed a notice of appeal from the final judgment in the adversary proceeding. Moore also filed a notice of appeal from the order in the underlying bankruptcy case. On March 18, 2015, Judge Whittemore entered an order that: (1) affirmed the disallowance of Moore's claim, (2) vacated the $45,000 judgment in Herrera-Edwards' favor on her state-law claims, and (3) remanded the case to the bankruptcy court. A full-text copy of the Order dated September 7, 2016 is available at https://is.gd/syrfhE from Leagle.com. In re Bambi Alicia Herrera-Edwards, is represented by Bryan D. Hull, Esq. -- bhull@bushross.com -- Bush Ross, PA. Eric Moore, Appellant, Pro Se. Bambi Alicia Herrera-Edwards, Appellee, is represented by Bryan D. Hull, Bush Ross, PA, David Samuel Jennis, Esq. -- Jennis Law Firm & Jeffrey Wayne Warren, Esq. -- jwarren@bushross.com -- Bush Ross, PA. BUCKTAIL MEDICAL: Patient Care Ombudsman Files 5th Report --------------------------------------------------------- Laura W. Patt, the Patient Care Ombudsman for The Bucktail Medical Center, has filed a fifth report for the period of July 21, 2016, through September 19, 2016. Throughout the reporting period, the PCO did not note any circumstances or issues that would impact resident care at any of the Facilities as a result of the bankruptcy. The PCO notes that the Debtor's Administration and Staff were open and cooperative during each on-site visit. Personnel were fully transparent in discussing their roles and responsibilities as well as providing any and all requested information and data. Further, management embraced the process of having a PCO on site and encouraged exchange between the PCO and management, which enabled the PCO to efficiently discharge her responsibilities. The PCO points that the established theme at the Facility is that resident care is first and foremost. A strong sense of teamwork between the administration and staff was observed, as well as amongst staff members. The residents, staff, and administration have each expressed that they feel like a "family" and there is a genuine concern for the residents. The PCO further noted that the stable and steady leadership of the Facility has strengthened staff unity; all staff interviewed continue to express faith in the management team and their resolve to continually improve. If the Debtor has not emerged from bankruptcy, the next report will be issued no later than December 1, 2016, and will cover the sixth reporting period of September 20, 2016 through November 19, 2016. The Bucktail Medical Center filed for Chapter 11 bankruptcy protection (Bankr. M.D. Pa. Case No. 15-04297) on Oct. 2, 2015. Hon. John J. Thomas presides over the cases. The Bucktail Medical Center owns and operates a 21-bed Critical Access Hospital, a 43 bed skilled nursing care facility, a basic life-support ambulance, and a community health clinic. Kevin Joseph Petak, Esq., and James R. Walsh, Esq., at Spence, Custer, Saylor, Wolfe & Rose, LLC, serves as counsel to the Debtors. In its petition, Bucktail Medical Center estimated $0 to 50,000 in assets and $1 million to $10 million in liabilities. The Debtor's petition was signed by Timothy Reeves, CEO. BUFFETS LLC: Unsecureds to Get 5% Return Under Joint Plan --------------------------------------------------------- Buffets, LLC, et al., filed with the U.S. Bankruptcy Court for the Western District of Texas a Joint Plan of Reorganization and Disclosure Statement, which proposes a return of approximately 5% to general unsecured creditors with possible upside from litigation recoveries. The aggregate amount of general unsecured claims is estimated at $100 million to $115 million. The Plan is a new value plan. In particular, the existing equity owners will cause their affiliates, FMP and holders of the Acquisition Debt to contribute new value in exchange for which they will retain their equity interests. FMP will contribute $2 million, which may be setoff against the FMP Cure Claim and take the FMP Promissory Note in exchange for the balance of the FMP Cure Claim, the holders of the Acquisition Debt will subordinate their claims of approximately $46 million to general unsecured creditors but retain their Liens and debt, and cause the Reorganized Debtors to pay other Claims and contribute the Litigation Trust Cash Component. The Plan further contemplates: -- payment of Allowed Administrative Claims in full in cash on or after the Plan Effective Date; -- payment of Fee Claims in full in cash within three days of a Final Order allowing them; -- payment of DIP Financing in 2 installments by the 90th day after the Plan Effective Date; -- payment of (i) Priority Tax Claims, (ii) Property Tax Claims, and (iii) Other Priority Claims in quarterly cash installments over a period of five years with interest; -- payment to Allowed Other Secured Claims in the ordinary course or return the Collateral for Credit; -- payment of Allowed PACA Claims in full in cash within 30 days of the Plan Effective Date or within 3 days after a Final Order allowing them; -- Ace Companies Claims will retain sufficient collateral to fully satisfy their secured claim; and -- payment in cash of 50% of Convenience Claims on the Initial Distribution Date. A copy of the Disclosure Statement dated Sept. 30, 2016, is available at http://bankrupt.com/misc/txwb16-50557-1113.pdf About Buffets LLC Buffets LLC, et al., are one of the largest operators of buffet-style restaurants in the U.S. The buffet restaurants, located in 25 states, principally operate under the names Old Country Buffet(R), Country Buffet(R), HomeTown(R) Buffet, Ryan's(R) and Fire Mountain(R). These locations primarily offer self-service buffets with entrees, sides, and desserts for an all-inclusive price. In addition, Buffets owns and operates an 10-unit full service, casual dining chain under the name Tahoe Joe's Famous Steakhouse(R). Buffets Holdings, Inc., filed for Chapter 11 relief in January 2008 and won confirmation of a reorganization plan in April 2009. In January 2012, Buffets again sought Chapter 11 protection and emerged from bankruptcy in July 2012. On Aug. 19, 2015, Alamo Ovation, LLC acquired Buffets Restaurants Holdings, Inc., and as a result of the merger, Buffets operated over 300 restaurants in 35 states. Down to 150 restaurants in 25 states after closing unprofitable locations, Buffets LLC and its affiliated entities sought Chapter 11 protection (Bankr. W.D. Tex. Case No. Lead Case No. 16-50557) in San Antonio, Texas, on March 7, 2016. The cases are assigned to Judge Ronald B. King. The Debtors have tapped John E. Mitchell, Esq., David W. Parham, Esq., Andrea Hartley, Esq., Esther A. McKean, Esq., and Amy M. Leitch, Esq., at Akerman, LLP as counsel; Bridgepoint Consulting, LLC as financial advisor; and Donlin, Recano & Company as claims And noticing agent. BUILDERS HOLDING: Taps Godreau & Gonzalez as Legal Counsel ---------------------------------------------------------- Builders Holding Co., Corp. seeks approval from the U.S. Bankruptcy Court for the District of Puerto Rico to hire legal counsel. The Debtor proposes to hire Godreau & Gonzalez Law LLC to provide legal services in connection with its Chapter 11 case. David Godreau Zayas, Esq., the attorney designated to represent the Debtor, will be paid an hourly rate of $125. The billing rate of the firm's associates is $100 per hour. In a court filing, Mr. Zayas disclosed that his firm is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: David Godreau Zayas, Esq. Godreau & Gonzalez Law LLC P.O. Box 9024176 San Juan, PR 00902-4176 Tel: (787) 726-0077 Email: dg@g-glawpr.com About Builders Holding Co. Builders Holding Co., Corp. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. P.R. Case No. 16-06643) on August 20, 2016. The petition was signed by Ismael Carrasquillo Sanchez, president. At the time of the filing, the Debtor disclosed $9.72 million in assets and $10.53 million in liabilities. CAPE COD COMMERCIAL: November 18 Plan Confirmation Hearing Set -------------------------------------------------------------- Judge Joan N. Feeney of the U.S. Bankruptcy Court for the District of Massachusetts on October 7, 2016, approved the third amended disclosure statement explaining Cape Cod Commercial Linen Service, Inc., and This Is It, LLC's plan of reorganization and scheduled the hearing to consider confirmation of the Plan for November 18, 2016, at 10:00 p.m. Objections to confirmation must be filed with the Court on or before November 4. Any professional seeking allowance for fees and expenses for the period at least 30 days prior to the first date scheduled for the Confirmation Hearing must be made the subject of application for allowances of fees and reimbursement of expenses, which must be filed on or before October 21. A hearing on the allowance of any fee application will be conducted on the date and time scheduled for the confirmation hearing. Any objections to any fee application must be filed on or before November 14. The Troubled Company Reporter previously reported that the Debtors' Plan is intended to permit CCCLS to continue to operate the commercial laundry business at the This Is It location in Hyannis, in order to repay the Debtors' primary secured creditor and to provide a dividend to the unsecured creditors of CCCLS. Unsecured creditors of CCCLS will receive a distribution of 25% of each allowed unsecured claim, payable from the operation's cash flow. The first 20% of the payment will be made on the Effective Date, and the remaining payments will be made over a period of five years. Upon confirmation, all equity interests in the Debtors and their properties will be cancelled, and reissued to a family trust whose beneficiaries are the principals' children. The Third Amended Disclosure Statement is available at: http://bankrupt.com/misc/mab16-11811-75.pdf About Cape Cod Commercial Cape Cod Commercial Linen Service, Inc., based in Hyannis, Massachusetts, filed a Chapter 11 petition (Bankr. D. Mass. Case No. 16-11811) on May 13, 2016. Hon. Joan N. Feeney presides over the case. David B. Madoff, Esq., and Steffani Pelton Nicholson, Esq., at Madoff & Khoury LLP, serve as counsel to Cape Code Commercial. The Debtor's financial advisor is Bruce A. Erickson of B. Erickson Group, LLC. In its petition, the Debtor listed total assets of $1.24 million and liabilities of $4.62 million. The petition was signed by Jeffrey Ehart, president. This Is It, LLC, based in Hyannis, Massachusetts, filed a Chapter 11 petition (Bankr. D. Mass. Case No. 16-11813) on May 13, 2016. Hon. Joan N. Feeney presides over the case. This Is It tapped David B. Madoff, Esq., and Steffani Pelton Nicholson, Esq., at Madoff & Khoury LLP, as bankruptcy counsel. In its petition, This Is It listed $2.20 million in assets and $3.05 million in liabilities. The petition was signed by Jeffrey Ehart, president/manager. The Debtors' cases are jointly administered. CARIBBEAN COMMERCIAL: Seeks U.S. Recognition of Anguillian Case --------------------------------------------------------------- Caribbean Commercial Investment Bank Ltd., a commercial bank incorporated and licensed in Anguilla, has filed a voluntary petition under Chapter 15 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York. William Tacon of FTI Consulting, in his capacity as the administrator and duly-authorized representative of CCIB, signed the Chapter 15 petition. He is represented by his counsel James C. McCarroll, Esq., Jordan W. Siev, Esq. and Kurt F. Gwynne, Esq., at Reed Smith, LLP in the U.S. case. Upon the application of CCIB's regulator, the Financial Services Commission in Anguilla, and by an order dated Feb. 22, 2016, the Eastern Caribbean Supreme Court in the High Court of Justice Anguilla Circuit placed the operations of CCIB and another offshore bank, the National Bank of Anguilla (Private Banking & Trust) Ltd. under administration pursuant to Section 31(2)(b) of the Financial Services Commission Act, R.S.A. c.F28. According to court papers, the FSC had determined that CCIB was insolvent on a balance sheet test as it was unable to pay its debts as they fell due. As of April 25, 2016, CCIB ceased accepting new deposits. The FSC found it was no longer appropriate to maintain the status quo, and determined that the appointment of an independent representative would best protect the rights of CCIB and its creditors in light of Caribbean Commercial Bank (Anguilla) Ltd. being placed into conservatorship. CCB, the sole shareholder of CCIB, was considered to be insolvent due to its dependence on CCIB for liquidity and its inability to settle large amount of debt owed to CCIB, according to court documents. The High Court appointed Mr. Tacon as the Administrator of the Offshore Banks. As Administrator, Mr. Tacon has complete control of the management of CCIB. On April 22, 2016, the Eastern Caribbean Central Bank appointed a receiver for CCB. Also on that date, CCB ceased banking operations in Anguilla. According to a press release issued by the ECCB, CCB's banking operations were transferred to a newly established bank, the National Commercial Bank of Anguilla Ltd. or NCBA, which is wholly-owned by the Government of Anguilla. According to Mr. Tacon, notwithstanding the insolvency and illiquidity of CCB, the Conservator Directors (acting on behalf of CCIB) procured or permitted the payment to CCB of (i) all monies received by CCIB from depositor and (ii) the proceeds of all assets of CCIB realized or collected during the period from Aug. 12, 2013, to March 24, 2016. The gross amount of the Funds paid to or collected by CCB during the Relevant Period was US$26,983,662. After the return of funds, a net amount of US$5,927,991 remained owing to CCIB, court document shows. Mr. Tacon had commenced legal proceedings in Anguilla against NCBA for the return of this money and sought leave of the Court to commence an identical proceedings against CCB. U.S. Recognition Sought Simultaneously with the Chapter 15 petition, Mr. Tacon filed a motion seeking recognition in the United States of the Anguillian Proceeding. Mr. Tacon believes there is a strong possibility that some of CCIB's funds are held in constructive trust for its benefit in bank accounts in the United States. Mr. Tacon said he wants to seek assistance of the U.S. courts in his efforts to locate and recover CCIB's assets in furtherance of his duties as Administrator of CCIB to liquidate CCIB's assets and repay CCIB's creditors according to their priorities. "The Petitioner's goal is to preserve and maximize the value of CCIB's assets for the benefit of its depositors and other creditors," said Mr. McCarroll. "This Chapter 15 case was filed to help the Petitioner realize that goal." The Chapter 15 case is assigned to Judge Stuart M. Bernstein. A full-text copy of the declaration in support of the Chapter 15 petition is available for free at: http://bankrupt.com/misc/2_CARIBBEAN_Declaration.pdf CAROLINE BETH SOMERS: Unsecureds To Recoup 0.9% Under Amended Plan ------------------------------------------------------------------ Caroline Beth Somers filed a motion asking the U.S. Bankruptcy Court for the Central District of California to approve the Debtor's first amended disclosure statement and plan of reorganization. Claimants and parties-in-interest have until Oct. 13, 2016, to file a response to the Debtor's motion. General Unsecured Claims, which total $1,396,560, will be paid $12,000 or 0.9% of their claims. The payment will be in monthly installments of $200. The Debtor will have total funds of $109,080 -- $22,000 cash on hand and $109,080 contribution from nondebtor spouse Bruce Somers -- available on the Effective Date. As reported by the Troubled Company Reporter on Aug. 11, 2016, the Debtor first filed a restructuring plan that also proposed to set aside $12,000 for creditors holding Class 2 general unsecured claims, to be paid in 60 equal monthly installments of $200 each. That plan stated that Class 2 general unsecured creditors assert a total of $1.69 million in claims. The First Amended Disclosure Statement and Plan is available at: http://bankrupt.com/misc/cacb15-28715-66.pdf About Caroline Beth Somers Caroline Beth Somers, a resident of Los Angeles, California, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No. 15-28715) on Dec. 9, 2015. The case was filed in large part to stop the foreclosure sale of Debtor's home after she and her husband was unsuccessful in obtaining a loan modification. The Debtor is represented by M. Jonathan Hayes, Esq., Matthew D. Resnik, Esq., Roksana D. Moradi, Esq., and Simon Resnik Hayes LLP. The case is assigned to Judge Vincent P. Zurzolo. CC SPORTS INJURY: Oct. 21 Hearing on Amended Plan Set ----------------------------------------------------- Judge Christopher M. Alston has approved CC Sports Injury LLC's Second Amended Disclosure Statement dated Sept. 23, 2016. Judge Alston ordered that the hearing on the Debtor's pending motion for Confirmation of Amended Plan of Reorganization is continued to Oct. 21, 2016 at 9:30 a.m. As reported in the Oct. 6, 2016 edition of the TCR, according to its Second Amended Disclosure Statement, CC Sports Injury is proposing a Chapter 11 plan that contemplates that payments and distributions under the Plan will be funded by the Debtor's usual and normal medical practice. A copy of the Second Amended Disclosure Statement is available at: http://bankrupt.com/misc/wawb15-16111-54.pdf About CC Sports Injury CC Sports Injury LLC is a Washington Limited Liability Company that was formed in February 2007 by its owner, Sean Salazar, a Chiropractic Physician. Dr. Salazar practices chiropractic medicine, and his patients include but are not limited to persons suffering from various conditions of the spine, back injuries, sports injuries, and car accident injuries. CC Sports filed for Chapter 11 bankruptcy protection (Bankr. W.D. Wash. Case No. 15-16111) on Oct. 13, 2015. Patrick H Brick, Esq., serves as the Debtor's counsel. CCC OF FAIRPLAY: Ombdusman Files Initial Status Report ------------------------------------------------------ Dale Watson, as Long Term Care Ombudsman for CCC of Fairplay, LLC, filed an initial status report on October 3, 2016, with the United States Bankruptcy Court for South Carolina. According to the report, no problems were observed during the visitations at the facility conducted by Kim Bridges, the Appalachian Region 1 Long Term Care Ombudsman. Moreover, Jeffrey Shore, the Owner, assured all the staff that the facility is not closing. Meanwhile, Ms. Mary Dunmoyer, the Administrator, also noted that there are no financial problems or issues since the bankruptcy proceedings started. The Ombudsman noted that the facility's ordering process for medications, medical supplies, and food were all stocked in all visits. The Ombudsman finds that the overall cleanliness of the facility was noted to be good during each visit. The Ombudsman further noted that there are no pending complaint investigations for the facility and there have been no recent complaint investigations conducted at the facility by the Long Term Care Ombudsman Program Staff. About CCC of Fairplay CCC of Fairplay, LLC, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. S.C. Case No. 16-03240) on June 30, 2016. The Debtor seeks to hire Skinner Law Firm, LLC, as its legal counsel. CERTENEJAS INCORPORADO: Disclosure Statement Hearing on Dec. 6 -------------------------------------------------------------- Judge Enrique S. Lamoutte Inclan of the U.S. Bankruptcy Court for the District of Puerto Rico has scheduled a hearing on Dec. 6, 2016, at 10:00 a.m. to consider and rule upon the adequacy of the disclosure statement filed by Certenejas Incorporado. Objections to the form and content of the disclosure statement are due not less than 14 days prior to the hearing. About Certenejas Incorporado Certenejas Incorporado, the CIDRA, Puerto Rico-based owner of motels or short-term guest houses in Puerto Rico, filed a Chapter 11 petition (Bankr. D.P.R. Case No. 15-07313) on Sept. 22, 2015. The Debtor tapped Charles Alfred Cuprill, Esq., at Charles A Cuprill, PSC Law Offices, as counsel. The Debtor disclosed $4.6 million in assets and $4.8 million in liabilities. Certenejas Incorporado previously sought bankruptcy protection (Bankr. D.P.R. Case No. 12-02806) in April 2012 and emerged from bankruptcy in January 2014. CHICAGO ROAD: Seeks to Employ Steve Zakic as Accountant ------------------------------------------------------- Chicago Road Corporation asks the Bankruptcy Court for authorization to employ Steve Zakic of Zakic Financial Service (ZFS) as accountant. The professional services to be rendered by Zakic are: a. Preparation and filing of required statements and reports; b. Preparation and filing of required tax documents; c. Perform other necessary accounting work as needed. ZFS will be paid based on this fee structure: (a) Preparation and filing of tax returns: $750 per hour; and (b) Special projects, including preparation of reports: $125 per hour. Steve Zakic assures the Court that his firm has no connections with the creditors, any other party in interest, their respective attorneys and accountants, the United States Trustee or any person employed in the office of the United States Trustee. The firm can be reached at: Steve Zakic ZAKIC FINANCIAL SERVICE 6617 W Archer Ave. Chicago, IL 60638 Tel: (773) 229-9222 About Chicago Road Chicago Road Corporation is an active Illinois Corporation that owns a movie theater/ entertainment center located in Dolton, Illinois. Chicago Road filed a chapter 11 petition (Bankr. N.D. Ill. Case No. 16-26185) on August 15, 2016. CHICAGO ROAD: Seeks to Employ Zakic Financial as Tax Counsel ------------------------------------------------------------ Chicago Road Corporation asks the Bankruptcy Court for authorization to employ Steve Zakic of Zakic Financial Service (ZFS) for the limited purpose of appealing the ad valorem real estate taxes for the years 2013 – 2016 assessed on its real estate located at 14112 Chicago Road, Dolton, Ill. The Debtor acquired the Property on Oct. 21, 2010, for $800,000. Since that time, the Property has steadily declined in value as the real estate market generally declined. Notwithstanding the decline in values, the county continued to assess higher ad valorem property taxes appraising the Property at a higher value. Zakic has agreed to: a. Prepare the Appeals documentation and submit them with the Cook County Assessor’s Office; b. Negotiate, draft, and pursue all documentation necessary to effectuate the appeals process; c. Prepare, on behalf of the Debtor, all applications, necessary documentation and evidence in support of the Debtor's real estate tax appeal; d. Perform other necessary work as required for the appeal. Mr. Steve Zakic will be compensated for his services on a contingency basis, at the rate of 33% of any refunds Debtor receives from the county. Mr. Zakic assures the Court that his firm has no connections with the creditors, any other party in interest, their respective attorneys and accountants, the United States Trustee or any person employed in the office of the United States Trustee. The firm can be reached at: Steve Zakic ZAKIC FINANCIAL SERVICE 6617 W Archer Ave. Chicago, IL 60638 Tel: (773) 229-9222 About Chicago Road Chicago Road Corporation is an active Illinois Corporation that owns a movie theater/ entertainment center located in Dolton, Illinois. Chicago Road filed a chapter 11 petition (Bankr. N.D. Ill. Case No. 16-26185) on Aug. 15, 2016. CHOICE HEALTH: Has Until Oct. 14 To Show PCO Not Necessary ---------------------------------------------------------- The US Bankruptcy Court for the Middle District of Florida entered a notice dated September 30, 2016, giving the Choice Health Care, Inc., 14 days from the notice date to produce sufficient evidence for the Court to find that the appointment of a Patient Care Ombudsman is not necessary under the specific facts of the case. About Choice Health Care Choice Health Care, Inc., d/b/a Rapha Vacular Specialists d/b/a Premier Vein Institute d/b/a Vascular & Interventional Pavilion a/k/a VIP d/b/a Premier Vein and Vacular Pavillion, filed a chapter 11 petition (Bankr. M.D. Fla. Case No. 16-08452) on Sept. 29, 2016. The petition was signed by Stephen J. Steller, president. The Debtor is represented by Herbert R. Donica, Esq., at Donica Law Firm PA. The Debtor estimated assets at $0 to $50,000 and liabilities at $1 million to $10 million at the time of the filing. The Debtor operates a medical practice specializing in the treatment of vein diseases, vascular surgery and related treatments with its principal places of business located in Hillsborough and Polk Counties, Florida. CIRCLE Z PRESSURE: Case Summary & 20 Largest Unsecured Creditors ---------------------------------------------------------------- Debtor: Circle Z Pressure Pumping, LLC P. O. Box 5513 Longview, TX 75608 Case No.: 16-60633 Chapter 11 Petition Date: October 11, 2016 Court: United States Bankruptcy Court Eastern District of Texas (Tyler) Debtor's Counsel: Michael E. Gazette, Esq. LAW OFFICES OF MICHAEL E. GAZETTE 100 East Ferguson Street, Ste. 1000 Tyler, TX 75702 Tel: (903) 596-9911 E-mail: megazette@suddenlinkmail.com Estimated Assets: $10 million to $50 million Estimated Debts: $10 million to $50 million The petition was signed by David Powell, member. Debtor's List of 20 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount ------ --------------- ------------ State of Texas Taxes and Other $777,629 Comptroller of Public Accounts Government Debts PO Box 13528, Capitol Station Austin, TX 78711-3528 Sierra Frac Sand, LLC Trade Debt $760,335 1155 East Johnson Street Fairmount Santrol Trade Debt $692,425 776 Centennial Drive Energy Products, Inc. Trade Debt $654,353 PO Box 9471 Clear River America Trade Debt $587,338 12818 Murphy Road United Engines, LLC Trade Debt $471,477 P.O. Box 731594 Rock Water Solutions Trade Debt $330,312 Benchmark Energy Products Dallas, TX 75320 JPF Services, LLC dba Wotel Trade Debt $248,880 P.O. Box 81162 Lafayette, LA70598 Tim Ables Trucking, Co. Trade Debt $224,915 MG Bryan Equipment Trade Debt $219,145 Forum US, Inc. (Flow Equipment) Trade Debt $173,363 National Oilwell Varco Trade Debt $163,961 Industrial Diesel Manufacturing Trade Debt $153,626 & Service, Ltd. P & W Sales, Inc. Trade Debt $150,382 Unimin Corporation Trade Debt $146,623 Gardner Denver Inc. Trade Debt $137,797 Independence Oilfield Trade Debt $128,530 Chemicals, LLC Ortowski Construction Co., Inc. Trade Debt $84,041 P & W Iron Works Trade Debt $78,110 SPM Flow Control, Inc. Trade Debt $75,998 CITICARE INC: PCO to File 19th Report on Oct. 17 ------------------------------------------------ Daniel T. McMurray, the Patient Care Ombudsman for Citicare Inc., informed the United States Bankruptcy Court for the Southern District of New York that he will be filing his nineteenth periodic written Ombudsman Report on October 17, 2016. To obtain a copy of the Report, contact: Stephanie Gibbons, NEUBERT, PEPE & MONTEITH, P.C. 195 Church Street, 13th Floor New Haven, CT 06510 Tel.: 203-821-2000 Email: sgibbons@npmlaw.com About Citicare, Inc. Citicare, Inc., is a New York Corporation providing comprehensive primary and specialty care to medically underserved communities. It operates from its premises located at 154 West 127th Street in The borough of Manhattan, City of New York. The company's health care facility provided services to 5,500 unique patients and generated 25,000 visits in the year ending Dec. 31, 2014. Citicare filed a Chapter 11 bankruptcy petition (Bankr. S.D.N.Y. Case No. 13-11902) on June 9, 2013. The petition was signed by Silva Umukoro, the president. The Debtor estimated assets of $500,000 to $1 million and debts of $1 million to $10 million. The Debtor is represented by Gabriel Del Virginia, Esq., at the Law Offices Of Gabriel Del Virginia, in New York. As the Debtor is in the healthcare business, on Sept. 12, 2013 a patient care ombudsman was appointed under Section 333(a)(1) of the Bankruptcy Code. COMMERCIAL FLOOR CARE: Plan Outline to be Heard on Nov. 14 ---------------------------------------------------------- A hearing to consider approval of the Disclosure Statement filed by Commercial Floor Care, LLC, in support of its Chapter 11 Plan will be held on Nov. 14, 2016, at 10:30 a.m. in Birmingham, Alabama. Written objections to the Disclosure Statement may be filed no later than Nov. 7, 2016. Commercial Floor Care, LLC, filed a Chapter 11 petition (Bankr. N.D. Ala. Case No. 16-02266) on June 6, 2016, estimating less than $500,000 in assets and $500,000 to $1 million in debt. Steven D Altmann, Esq., at Najjar Denaburg, P.C., serves as counsel to the Debtor. COSI INC: Prepares for 363 Sale Process, Seeks Qualified Bidders ---------------------------------------------------------------- Così, Inc., the fast-casual restaurant company, on Oct. 11, 2016, disclosed that the Company is aggressively seeking qualified bidders who may have an interest in purchasing substantially all of its assets in a sale process under Section 363 of the Bankruptcy Code. The Company also disclosed that the bidding procedures and sale schedule, which are pending approval of the Bankruptcy Court, will be available on or about Oct. 20, 2016, and that all bids must be received by Nov. 14, 2016. As previously disclosed, on Sept. 28, 2016, the Company and its subsidiaries filed voluntary Chapter 11 petitions in the United States Bankruptcy Court for the District of Massachusetts, (Eastern Division) Case No. 16-13704 (MSH). Prior to the Chapter 11 filing, the Company entered into a non-binding term sheet with its lenders, AB Opportunity Fund LLC, AB Value Partners, L.P., and Milfam II L.P., pursuant to which these lenders or their designees agreed to lend the Company money in the bankruptcy as the Company's debtors-in-possession ("DIP") lenders. Also, the DIP lenders have proposed to purchase substantially all of the Company's assets and, subject to Bankruptcy Court approval, would serve as the "stalking horse bidder" in the 363 sale process. Qualified bidders must submit a higher or better bid than the offer from the stalking horse bidder. Interested parties must sign a confidentiality and non-disclosure agreement to gain access to confidential detailed due diligence materials, and must demonstrate financial ability to be considered qualified bidders. Parties interested in the 363 sale process may contact Randy Kominsky, Cosi's Chief Restructuring Officer, at rkominsky@allianceffg.com. Company Overview For its 2015 fiscal year, the Company had revenue of approximately $90 million. Unfortunately, during 2016, the Company experienced sales decreases that led to severe cash flow problems. The deteriorating sales were at least partially due to macro-economic issues affecting the restaurant industry as a whole, and the fast-casual sector in particular, resulting in decreasing sales trends for the Company. The Company explored various alternatives and determined to file Chapter 11 on September 28, 2016 in the United States Bankruptcy Court. Immediately prior to the Bankruptcy filing, the Company closed 29 underperforming Company-operated locations. As of October 1, 2016, the Company operated or franchised a total of 76 restaurants, of which 45 are Company operated and 31 are franchised locations. There is diversity in the Company-owned locations with restaurants in high density, urban and suburban areas, universities and transportation centers. The Company-owned locations are in leased facilities, primarily located in the cities of Boston, Chicago, New York City (Manhattan) and Philadelphia, as well as certain locations in Connecticut, Maryland, New Jersey, Virginia and Wisconsin. The Company's franchise locations include the District of Columbia, New Jersey and several other states, and internationally in Costa Rica and the United Arab Emirates. The Company is headquartered in Boston in leased office space and does not own any real estate. The Company currently employs approximately 1,200 full and part time restaurant and field employees and 17 employees in its Support Center. The Company's common stock was formerly listed on The Nasdaq Stock Exchange under the ticker symbol COSI, and, as previously disclosed, was delisted as of the opening of business on October 10, 2016, for failure to satisfy NASDAQ's continued listing requirements. About Cosi, Inc. Cosi -- http://www.getcosi.com/-- is an international fast casual restaurant company. There are currently 45 Company-owned and 31 franchise restaurants operating in fourteen states, the District of Columbia, Costa Rica and the United Arab Emirates. Cosi, Inc. and its affiliated Debtors filed chapter 11 petitions (Bankr. D. Mass. Case No. 16-13704-MSH) on Sept. 28, 2016. The Debtors are represented by Joseph H. Baldiga, Esq. and Paul W. Carey, Esq., at Mirick, O'Connell, DeMallie & Lougee, LLP. The Hon. Melvin S. Hoffman presides over the case. The Debtor taps The O'Connor Group, Inc., as financial consultant. In its petition, the Debtor estimated $31.24 million in assets and $19.83 million in liabilities. The petition was signed by Patrick Bennett, interim chief executive officer. No official committee of unsecured creditors has been appointed in the case. DAVID KARMEL: Plan Offers Unsecured Creditors $100 Per Month ------------------------------------------------------------ Real estate agent David Karmel filed a Chapter 11 plan that provides that holders of unsecured claims will receive their pro rata share of a total of $6,000, to be paid $100 per month for 60 months, commencing on the Effective Date. Unsecured creditors are slated to have a 0.13% recovery. Secured creditor Wells Fargo will recover 100%. It will have allowed secured claims of $95,000 and $375,000, with interest to accrue at 4% per annum, amortized over 360 months. The Debtor's reorganization does not hinge on the retention of the residential properties and the reorganization of those secured claims although it is a goal of this Debtor. As the financial projections reflect, the Debtor anticipates a year-over-year increase in income from his work as both a contractor and realtor. A copy of the Disclosure Statement dated Sept. 27, 2016, is available for free at: http://bankrupt.com/misc/azb15-02229_DS_D_Karmel.pdf A hearing on the Disclosure Statement explaining Karmel's Chapter 11 Plan is scheduled for Nov. 15, 2016 at 1:30 p.m. About David Karmel On March 4, 2015, David B. Karmel filed a voluntary petition for relief under Chapter 13 of Title 11 of the United States Code (Bankr. D. Ariz. Case No. 15-02229). The Debtor sought conversion of their case from Chapter 13 to Chapter 11 on Jan. 4, 2016. After notice and a hearing, the case was converted to a case under Chapter 11 on March 4, 2016. The Debtor filed the instant case on the heels of an involuntary dismissal of a predecessor bankruptcy, identified as 4:12-bk-080507-JMM. David Karmel is a real estate agent who owns and operates David Karmel Realty & Investments in Tucson, Arizona. The Debtor’s property consists of largely household goods, small personal property and assorted tools. The Debtor has tapped The Law Office of C.R. Hyde, PLC, as counsel. DIGITALGLOBE: Moody's Retains Ba3 CFR on Radiant Grp Acquisition ---------------------------------------------------------------- Moody's Investors Service said DigitalGlobe's Ba3 Corporate Family Rating, Ba2 senior secured bank credit facility rating, B1 senior unsecured note rating and stable outlook are not impacted by the company's recent announcement that it has signed a definitive agreement to acquire The Radiant Group, Inc. for $140 million in cash. Headquartered in Westminster, CO, DigitalGlobe, Inc. is a commercial satellite imagery company that currently operates a constellation of four earth imaging satellites -- WorldView-1, WorldView-2, WorldView-3 and GeoEye-1. DigitalGlobe owns and operates a network of ground terminal stations, maintains an extensive archive of satellite earth imagery, and provides integrated aerial imagery collection services as well as advanced geospatial image processing, analytical and map building capabilities to the US Government and Commercial sectors. DM RECORDS: Proposes Warren Trazenfeld as Special Counsel --------------------------------------------------------- DM Records, Inc., asks the Bankruptcy Court for authority to employ Warren R. Trazenfeld, Esq., of the law firm of Warren R. Trazenfeld, PA, as special counsel related to potential legal malpractice claims. Warren R. Trazenfeld, Esq., assured the Court that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtor and its estates. The firm can be reached through: Warren R. Trazenfeld, Esq., Warren R. Trazenfeld, PA 2030 Douglas Rd. Coral Gables, FL 33134 Tel: (305) 860-1100 About DM Records, Inc. DM Records, Inc., -- dba DM Music Group; Ashley Watson Publishing, BMI; Sky Records; Koke, Moke and Noke Publishing, BMI; Critique Records; Bass Tracks, ASCAP; Wrap Records; Bellmark Records; and Ichiban Records -- based in Deerfield Beach, Florida, is an independent music content company founded in 1993 by Mark and David Watson. The Debtor is based in Deerfield Beach, Florida, making its revenues from the licensing of music. Songs it owns or controls (or has in the past) include past gold and multi-platinum hits by Tag Team "Whoomp! There It Is" (quadruple platinum), 2 Unlimited "Get Ready For This" (platinum), Duice "Dazzey Duks" (double platinum), Nikki French "Total Eclipse of the Heart" (gold), Prince "Most Beautiful Girl" (gold), Los Del Mar "Marcarena", Clarence Carter "Strokin" (gold), MC Breed and DFC "Ain't No Future in Yo Frontintm (gold), and Deadeye Dick "New Age Girl" (gold) to name a few. The Debtor filed a Chapter 11 petition (Bankr. S.D. Fla. Case No. 15-30368) on Nov. 19, 2015. The Hon. Raymond B. Ray presides over the case. David L. Merrill, Esq., at Merrill P.A., as bankruptcy counsel. In its petition, the Debtor listed $4.24 million in total assets and $2.32 million in total liabilities. The petition was signed by Mark Watson, president. DRM SALES: Plan Outline Okayed, Confirmation Hrg. Set for Nov. 8 ---------------------------------------------------------------- DRM Sales & Supply, LLC, and DRM Rental Properties, LLC, obtained an order from the Bankruptcy Court approving the First Amended Disclosure Statement in support of their First Amended Joint Plan of Liquidation. A hearing on the confirmation of the Plan is scheduled for Nov. 8, 2016, at 1:45 p.m., in Midland, Texas. Interested parties have until Nov. 1, 2016, to file written objections, if any, to the Plan. About DRM Sales & Supply DRM Sales & Supply, LLC's business consists of buying and distributing steel casing pipe, tubing, and other such supplies used in the drilling operations of oil rigs engaged in the exploration for oil and gas throughout the United States. DRM Sales & Supply sought Chapter 11 protection (Bankr. W.D. Tex. Case No. 16-70028) in Midland, Texas, on Feb. 26, 2016. David R. Langston, Esq., at Mullin Hoard & Brown, L.L.P., serves as counsel to the Debtor. The Debtor estimated assets of $1 million to $10 million and debt of $10 million to $50 million. E MENDOZA & CO: Seeks to Hire Medina-Rivera as Accountant --------------------------------------------------------- E. Mendoza & Co., Inc. seeks approval from the U.S. Bankruptcy Court for the District of Puerto Rico to hire Medina-Rivera CPA & Co., PSC as its accountant. The Debtor tapped the firm to provide general accounting and tax services, prepare its monthly operating reports, and prepare supporting documents for its Chapter 11 reorganization plan. The firm's professionals and their hourly rates are: Certified Public Accountant $150 Auditor/ Accountants/Tax Specialist $75 Office Clerk $35 Juan Medina Rivera, a certified public accountant and principal of Medina-Rivera, disclosed in a court filing that he is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Juan M. Medina Rivera Medina-Rivera CPA & Co., PSC 605 Ave. Condado, Suite 412 San Juan, PR 00907 Tel: 787-622-7551/7552 Cel: 787-510-5543 Email: cpamedina@yahoo.com About E. Mendoza & Co Inc E. Mendoza & Co. Inc., based in San Juan, P.R., filed a Chapter 11 petition (Bankr. D.P.R. Case No. 16-06661) on August 22, 2016. Nelson Robles Diaz, Esq., serves as bankruptcy counsel. In its petition, the Debtor estimated $0 to $50,000 in assets and $1 million to $10 million in liabilities. The petition was signed by Marta Fernandez Torres, secretary. EDUARDO MENDOZA: Seeks to Hire Medina-Rivera as Accountant ---------------------------------------------------------- Eduardo Mendoza Corp. seeks approval from the U.S. Bankruptcy Court for the District of Puerto Rico to hire an accountant. The Debtor proposes to hire Medina-Rivera CPA & Co., PSC, to provide general accounting and tax services, prepare its monthly operating reports, and assist the Debtor in preparing supporting documents for its Chapter 11 reorganization plan. The firm's professionals and their hourly rates are: Certified Public Accountant $150 Auditor/ Accountants/Tax Specialist $75 Office Clerk $35 Juan Medina Rivera, a certified public accountant and principal of Medina-Rivera, disclosed in a court filing that he is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Juan M. Medina Rivera Medina-Rivera CPA & Co., PSC 605 Ave. Condado, Suite 412 San Juan, PR 00907 Tel: 787-622-7551/7552 Cel: 787-510-5543 Email: cpamedina@yahoo.com About Eduardo Mendoza Eduardo Mendoza Corporation filed a Chapter 11 bankruptcy petition (Bankr. D.P.R. Case No. 16-06672) on August 22, 2016, disclosing under $1 million in both assets and liabilities. The Debtor is represented by Nelson Robles Diaz, Esq. ELECTRONIC CIGARETTES: Enters Into Purchase Pact with Hardwire -------------------------------------------------------------- Electronic Cigarettes International Group, Ltd., entered into an asset purchase agreement, by and among itself, Hardwire Interactive Inc., a British Virgin Islands company (the "Buyer"), Hardwire Interactive Acquisition Company, a Delaware corporation and wholly-owned subsidiary of the Company ("Hardwire"), and certain other covenanting parties, pursuant to which Hardwire sold and assigned the Assets (as defined in the Agreement) to the Buyer in consideration of the Purchase Price (as defined in the Agreement), including an $800,000 cash payment and the assumption of certain liabilities, subject to the terms and conditions of the Agreement. In connection with the execution of the Purchase Agreement and the consummation of the Asset Sale, Hardwire entered into with the Buyer, a (i) Bill of Sale, (ii) General Assignment, (iii) Assignment of Contracts, and (iv) Assignment of Intellectual Property, each dated as of Oct. 5, 2016. A full-text copy of the Asset Purchase Agreement is available for free at https://is.gd/Nstsul About Electronic Cigarettes Electronic Cigarettes International Group, Ltd. is an independent marketer and distributor of vaping products and E-cigarettes. The Company's objective is to become a leader in the rapidly growing, global E-cigarette segment of the broader nicotine related products industry which include traditional tobacco. E-cigarettes are battery-powered products that simulate tobacco smoking through inhalation of nicotine vapor without the fire, flame, tobacco, tar, carbon monoxide, ash, stub, smell and other chemicals found in traditional combustible cigarettes. The global E-cigarette market is expected to grow to $51 billion, or a 4% share of the worldwide tobacco market, by 2030. The growth is forecast to come at the expense of traditional tobacco, not from new smokers entering the category. Numerous research studies and publications have recognized that E-cigarettes are a preferred method for smokers to quit, and the most effective. As of June 30, 2016, Electronic Cigarettes had $83.3 million in total assets, $147 million in total liabilities and a total stockholders' deficit of $64.2 million. Electronics Cigarettes reported a net loss of $44.2 million in 2015 following a net loss of $389 million in 2014. Rehmann Robson LLC, in Grand Rapids, Michigan, issued a "going concern" qualification on the consolidated financial statements for the year ended Dec. 31, 2015, citing that the Company has reported significant operating losses and cash flow deficits and has accumulated a net capital deficit. These and other factors raise substantial doubt about the Company's ability to continue as a going concern. EMMAUS LIFE: Appoints Willis Lee Chief Financial Officer -------------------------------------------------------- Emmaus Life Sciences, Inc., appointed Willis C. Lee as its chief financial officer, effective Oct. 3, 2016. Mr. Willis Lee succeeds Steve Lee, who has served as the Company's interim chief financial officer since April 29, 2016. Steve Lee will continue in his prior role as an independent consultant to the Company. Mr. Willis Lee has served as the Company's chief operating officer since May 2011, as a director since December 2015, and as vice-chairman of the Board of Directors since January 2016. He will continue to serve in these roles. Mr. Lee previously served as a director of the Company from May 2011 to May 2014 and also served as the co-chief operating officer and chief financial officer and as a director of Emmaus Medical, Inc. from March 2010 to May 2011. Prior to that, he was the controller at Emmaus Medical, Inc. from February 2009 to February 2010. From 2004 to 2010, Mr. Lee led worldwide sales and business development of Yield Dynamics product group at MKS Instruments, Inc., a provider of instruments, subsystems, and process control solutions for the semiconductor, flat panel display, solar cell, data storage media, medical equipment, pharmaceutical manufacturing, and energy generation and environmental monitoring industries. Mr. Lee received his B.S. and M.S. degrees in Physics from University of Hawaii (1984) and University of South Carolina (1986), respectively. There are no reportable family relationships or related party transactions (as defined in Item 404(a) of Regulation S-K) involving the Company and Mr. Willis Lee. About Emmaus Life Emmaus Life Sciences, Inc., is engaged in the discovery, development, and commercialization of treatments and therapies primarily for rare and orphan diseases. This biopharmaceutical company's headquarters is in Torrance, California. Emmaus Life reported a net loss of $12.7 million on $590,114 of net revenues for the year ended Dec. 31, 2015, compared to a net loss of $21.8 million on $500,679 of net revenues for the year ended Dec. 31, 2014. As of June 30, 2016, Emmaus Life had $1.26 million in total assets, $32.9 million in total liabilities and a total stockholders' deficit of $31.7 million. SingerLewak LLP, in Los Angeles, California, issued a "going concern" qualification on the consolidated financial statements for the year ended Dec. 31, 2015, citing that the Company has suffered recurring losses from operations, its total liabilities exceed its total assets and it has an accumulated stockholders' deficit. This raises substantial doubt about the Company's ability to continue as a going concern. EMMAUS LIFE: Obtains $20 Million from Private Placement ------------------------------------------------------- Emmaus Life Sciences, Inc., has raised $20 million in gross proceeds in a private placement from KPM Tech Co., Ltd., and Hanil Vacuum Co., Ltd., both Korean-based public companies with shares listed on KOSDAQ, a trading board of the Korea Exchange in South Korea. KPM and Hanil acquired $17 million and $3 million, respectively, of Emmaus' shares of common stock at a price of $4.50 per share. As part of the transaction, Emmaus will invest $13 million in KPM shares and $1 million in Hanil shares. "We welcome KPM and Hanil as Emmaus' partner and look forward to collaborating on many fronts including our business in Korea," Willis Lee, Vice Chairman and COO of Emmaus, said. Emmaus will use the net proceeds from the private placement, amounting to approximately $6 million, for working capital and general corporate purposes. "Completion of the private placement represents an important step for Emmaus that will enable us to continue our work and plan for the next phase of our company's development," Yutaka Niihara, M.D., MPH, Chairman and CEO of Emmaus, said. "Earlier this month, we were pleased to have submitted a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA), requesting U.S. marketing approval for our orally administered pharmaceutical grade L-glutamine (PGLG) treatment for sickle cell disease. "Data from our Phase 3 sickle cell disease trial demonstrated a reduction in the frequency of sickle cell crises and hospitalizations, as well as a reduction in cumulative days hospitalized, and a lower incidence of the life-threatening acute chest syndrome. The NDA represents the first potential treatment for pediatric patients with sickle cell disease, and the first potential new treatment in nearly 20 years for adult patients," Dr. Niihara added. About Emmaus Life Emmaus Life Sciences, Inc., is engaged in the discovery, development, and commercialization of treatments and therapies primarily for rare and orphan diseases. This biopharmaceutical company's headquarters is in Torrance, California. Emmaus Life reported a net loss of $12.7 million on $590,114 of net revenues for the year ended Dec. 31, 2015, compared to a net loss of $21.8 million on $500,679 of net revenues for the year ended Dec. 31, 2014. As of June 30, 2016, Emmaus Life had $1.26 million in total assets, $32.9 million in total liabilities and a total stockholders' deficit of $31.7 million. SingerLewak LLP, in Los Angeles, California, issued a "going concern" qualification on the consolidated financial statements for the year ended Dec. 31, 2015, citing that the Company has suffered recurring losses from operations, its total liabilities exceed its total assets and it has an accumulated stockholders' deficit. This raises substantial doubt about the Company's ability to continue as a going concern. EUGENE ARNOLD: Unsecureds To Be Paid in 60 Monthly Installments ---------------------------------------------------------------- Eugene Arnold filed a motion asking the U.S. Bankruptcy Court for the Central District of California to approve the disclosure statement describing the Debtor's plan of reorganization. A hearing on the motion will be held on Oct. 27, 2016, 1:30 p.m. Under the Plan, holders of Class 2b General Unsecured Claims -- estimated to total approximately $8,350 -- will be paid in full, without interest. Payments will be made in 60 equal monthly installments of $140 each. The Debtor has $22,000 cash on hand as source of funds on the effective date. The Debtor has $647,374 in total funds for other payments during the plan term. The Disclosure Statement is available at: http://bankrupt.com/misc/cacb15-22361-126.pdf The Plan was filed by the Debtor's counsel: M. Jonathan Hayes, Esq. Matthew D. Resnik, Esq. Roksana D. Moradi, Esq. SIMON RESNIK HAYES LLP 15233 Ventura Boulevard, Suite 250 Sherman Oaks, CA 91403 Tel: (818) 783-6251 Fax: (818) 827-4919 E-mail: jhayes@SRHLawFirm.com matthew@SRHLawFirm.com roksana@SRHLawFirm.com Eugene Arnold filed for Chapter 11 bankruptcy protection (Bankr. C.D. Calif. Case No. 15-22361). EXCELIUM MANAGEMENT: Approval of S. Brown as Ch. 11 Trustee Sought ------------------------------------------------------------------ Guy G. Gebhardt, the Acting United States Trustee for Region 21, asks the U.S. Bankruptcy Court for the Southern District of Florida to approve the selection of appointment of Scott N. Brown as Chapter 11 Trustee for Excelium Management, LLC. Mr. Brown assured the Court that he has no connections with the Debtor, creditors, any other parties in interest, their respective attorneys and accountant, the United States Trustee, or any person employed in the office of the United States Trustee, except that: (a) he was a panel Chapter 7 Trustee in the Southern District of Florida; and (b) a former employee of the Debtor contracted the law firm at which he is a partner, Bast Amron LLP, regarding a potential engagement related to the filing of a proof of claim for unpaid pre-petition wages. The Firm never received a signed engagement letter or retainer payment and thus, was not engaged, and has notified said Creditor that it will be unable to represent him. Mr. Brown may be reached at: Scott N. Brown, Esq. BAST AMRON LLP SunTrust International Center One S.E. Third Ave., Ste. 1400 Miami, Fl 33131 Tel: 305.379.7904 Fax:305.379.7905 Email: sbrown@bastamron.com About Excelium Management Excelium Management, LLC, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 16-21608) on August 24, 2016. The petition was signed by Sushma Chhabra, managing member. The Debtor is represented by Paul Decailly, Esq., at DeCailly Law Group, PA. At the time of the filing, the Debtor estimated assets of less than $50,000 and liabilities of less than $1 million. FARMHAND SUPPLY: U.S. Trustee Unable to Appoint Committee --------------------------------------------------------- The Office of the U.S. Trustee on Oct. 11 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Farmhand Supply, LLC. Farmhand Supply, LLC, filed for Chapter 11 bankruptcy protection (Bankr. E.D. Mo. Case No. 16-10742) on Sept. 9, 2016, estimating its assets and liabilities at up to $50,000 each. J. Michael Payne, Esq., at Limbaugh, Russell, Payne & Howard serves as the Debtor's bankruptcy counsel. FRANK CARDELLO: Unsecureds to Recoup 1% within 72 Months -------------------------------------------------------- Frank Cardello filed with the U.S. Bankruptcy Court for the Eastern District of New York an amended plan of reorganization proposing to pay holders of Class 4 Unsecured Claims a distribution valued at approximately 1% of their claims in deferred monthly payments within 72 months of the Effective Date of the plan. The Plan will be funded by the Debtor's future income. The Debtor co-owns the former marital residence located at 50 Ryan Place, Staten Island, New York, which property will be sold. Class 1 consists of the secured claims on the Debtor's former marital residence -- CitiMortgage, Inc., and the Internal Revenue Service -- and these two claims are unimpaired. The mortgage is not in default and the Debtor will continue to make payments per the terms of the note and mortgage and along with the only other secured claim, will be paid in full upon the sale of the former marital residence. Class 2 consists of the Domestic Support claims held by Celine Cardello and Shoshana A. Myerson. This class is impaired and will be paid in full in deferred payments within 7 years upon confirmation or the Effective Date of the Plan. Class 3 consists of the priority tax claims. This class is impaired and will receive a distribution equal to 100% of their claims in equal payments for five years from confirmation. A full-text copy of the Amended Plan dated October 7, 2016, is available at http://bankrupt.com/misc/nyeb11-42040-202.pdf The bankruptcy case is Frank Cardello, a/k/a Frank M. Cardello, MD, Case No. 11-42040 (Bankr. E.D.N.Y.). The Debtor is represented by: David J. Doyaga, Esq. 26 Court Street, Suite 1002 Brooklyn, NY 11242 Tel: (718) 488-7500 FUHU INC: Agrees to Settle NLRB Case by Contractors --------------------------------------------------- Arctic Sentinel, Inc, formerly known as Fuhu, Inc., will return to the Delaware Bankruptcy Court on Nov. 4, 2016, to seek approval of a settlement agreement with the National Labor Relations Board. Prior to the Petition Date, the Debtors engaged certain individuals as independent contractors retained to assist with the animation of certain content for the Debtors' tablet products in connection with a particular initiative internally referred to as the "Charms Project." The contractors were discharged on or about April 20, 2015. The Charms Project was terminated on or about August 21, 2015. On June 5, 2015, The Animation Guild, IATSE Local 839 filed a charge, as subsequently amended, against the Debtors with the NLRB, Case No. 31-CA-153710. The Union alleged that the Debtors had violated certain provisions of the National Labor Relations Act, 29 U.S.C. Sec. 151 et seq., by discouraging employees from engaging in union-related activity and by discharging the contractors in response to their complaints about late payment of wages. The Complaint was scheduled to be tried before an administrative law judge in February 2016 and was not subject to the automatic stay. The Debtors noted that 11 U.S.C. Sec. 362(b)(4); and U.S. v. Nicolet, $57 F.2d 202 (3d Cir. 1988) provide that automatic stay does not apply to government's proceedings under police or regulatory power. Pursuant to the Settlement, the contractors will hold allowed claims for backpay for the period of April 20, 2015 through Aug. 21, 2015 in the total amounts of $34,630, $27,123, and $35,642, respectively. Applicable portions of the Backpay that would have been earned after June 10, 2015, not to exceed $12,475 per Complaining Party, will be allowed priority wage claims pursuant to Section 507(a)(4) of the Bankruptcy Code. The remaining portions of the backpay will be allowed general unsecured claims. Distributions on those claims will be made in accordance with the Debtors' Plan of Liquidation to be approved by this Court. The Debtors will mail and also e-mail, if possible, to all persons employed by the Debtors since April 17, 2015 the Notice to Charged Party attached to the Settlement Agreement. No further action will be taken by the NLRB against the Debtors with respect to the Complaint, provided that the Debtors comply with the terms of the Settlement Agreement. About Fuhu, Inc. Headquartered in El Segundo, California, Fuhu, Inc. was founded in 2008 by John Hui, Steve Hui, and Robb Fujioka. Fuhu was the maker of children's Nabi tablets. Fuhu has sold more than four million tablets, with more than 1.5 million sold during the 2014 fiscal year. Nabi tablets were sold in more than 10,000 retail outlets, including Target, Best Buy, Costco Wholesale, Toys â€˜R Us, and Walmart stores. Fuhu Holdings, Inc., a wholly-owned subsidiary, owned significant intellectual property assets, including trademarks and copyrights. Fuhu, Inc., and Fuhu Holdings, Inc., filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Lead Case No. 15-12465) on Dec. 7, 2015. The petitions were signed by James Mitchell as chief executive officer. Judge Christopher S. Sontchi presides over the cases. The Debtors estimated assets in the range of $10 million to $50 million and liabilities of $100 million to $500 million. The Debtors tapped (a) Pachulski Stang Ziehl & Jones LLP as bankruptcy counsel; (b) FTI Consulting, Inc., as financial advisor, (c) KRyS Global USA, LLC, as financial advisor and investment banker, and (d) Kurtzman Carson Consultants LLC, as claims, noticing, and balloting agent. The Official Committee of Unsecured Creditors won approval to retain (i) Cooley LLP and Ballard Spahr LLP as bankruptcy counsel to the Committee, (ii) PricewaterhouseCoopers LLP as provider of financial advisory and certain data preservation services to the Committee, and (iii) Berkeley Research Group LLC as forensic accountants. * * * Mattel Inc. won an auction for the assets of the Debtors with an offer of $21.5 million, subject to certain adjustments. The Court approved the sale to Mattel on Jan. 22, 2016. Debtor Fuhu Inc., changed its name to Arctic Sentinel, Inc., following the sale of the assets. FUHU INC: Disclosures Okayed; Plan Confirmation Hearing on Nov. 30 ------------------------------------------------------------------ The U.S. Bankruptcy Court for the District of Delaware approved the disclosure statement with respect to the First Amended Plan of Liquidation of Fuhu, Inc., which now goes by the name of Arctic Sentinel, Inc. after selling its assets. The Court will hold a hearing Nov. 30 to consider confirmation of the Liquidation Plan. Holders of Class 2 Secured Claims and 3 General Unsecured Claims are the only classes entitled to vote on the Plan. Ballots are due Nov. 18. Plan confirmation objections are also due Nov. 18. The First Amended Plan and Disclosure Statement were filed Oct. 4. The projected recoveries under the Plan remain unchanged from the original Plan: Estimated Estimated Description/Class Allowed Amount Distribution ----------------- -------------- ------------ Administrative Claims $785,907 - $2,446,132 100% Priority Tax Claims $175,830 - $431,439 100% Class 1 $321,998 - $443,904 100% Class 2 Up to $9,813 100% Class 3 $119,011,870 - $603,367,080 0.8% - 5.9% Class 4 N/A 0% The Amended Disclosure Statement provides that as a result of the Debtors' asset disposition efforts, they presently have $9,002,594 in cash and, after other collections and satisfaction of claims of higher priority, expect to have between $4,931,306 and $6,978,859 available for distribution to holders of Allowed Unsecured Claims under the Plan. Assets belonging to the Debtors on the Effective Date of the Plan, including Cash and Causes of Action, will be transferred to the Liquidating Trust. The Liquidating Trustee may use Cash to investigate and pursue Causes of Action. Additional funds may be available for distribution to holders of Allowed Unsecured Claims if Causes of Action produce proceeds in excess of the professional and administrative expenses required to pursue the Causes of Action. The Committee will appoint the Liquidating Trustee prior to the filing of the Plan Supplement. The identity of the Liquidating Trustee and the form of the Liquidating Trust Agreement will be disclosed in the Plan Supplement, as described in Article V of the Plan. The Liquidating Trustee shall serve at the direction of the Liquidating Trust Advisory Committee and in accordance with the Liquidating Trust Agreement and the Plan. The Liquidating Trust Advisory Committee may replace the Liquidating Trustee in accordance with the provisions of the Liquidating Trust Agreement. The initial members of the Liquidating Trust Advisory Committee will be the current members of the Committee: Morgan Stanley Expansion Capital LP; D&H Distributing Company; Scott Miller, for himself and in his capacity as proposed class representative; 24-7 Intouch Inc.; and Wistron Corporation. The Debtors note that based on preliminary information received from the Committee, the Debtors have estimated that the Liquidating Trust may spend $500,000 to investigate and pursue Causes of Action. The actual expenditures could be greater and may depend on the Liquidating Trustee's decisions about which Causes of Action to pursue and in what forum, as well as the defendants' efforts to resist any litigation. The amount that may be recovered from the Causes of Action also is uncertain. The Amended Disclosure Statement also provides that the Debtors believe that substantive consolidation of the Estates and the Chapter 11 Cases is appropriate for several reasons: 1. Prior to the Petition Date, the Debtors maintained accurate distinctions among their respective assets and liabilities only in discrete situations -- for example, when a lender required that certain intellectual property assets be placed into Fuhu Holdings, Inc. The Debtors also, for a time, recorded some financial transactions accurately in different companies, but other transactions during this period were recorded at Fuhu, Inc. regardless of their actual economic reality. The Debtors abandoned separate recording of transactions in February 2015. After that time, the Debtors recorded all transactions on the books of Fuhu, Inc., without recording intercompany transactions that would permit the benefits and burdens of transactions to be reallocated to other Debtors. 2. The principal current assets of the Estates consist of Cash received from the Sale, which was not allocated to particular assets purchased by Mattel, and Causes of Action that do not necessarily relate to a particular Debtor. 3. The Debtors frequently interacted with creditors in ways that were inconsistent with the titling of their assets -- for example, by having Fuhu, Inc. enter into a contract or license relating to intellectual property held by Fuhu Holdings, Inc. 4. An accurate reconstruction of the assets and liabilities of the individual Debtors would be time-consuming and cost-prohibitive, requiring a manual review of the Debtors' general ledger and thousands of contracts, purchase orders, and other documents, as well as an allocation of the proceeds of the Mattel transaction and the expenses of the Chapter 11 Cases to particular Estates. Substantive consolidation, the Debtors state, will provide greater and more prompt returns to creditors than they are likely to receive if the Debtors or the Liquidating Trustee were to engage employees or professionals to reconstruct their separate assets and liabilities. The Debtors note that the Plan includes provisions exculpating certain participants in the Chapter 11 Cases from liability, except for willful misconduct, fraud, or gross negligence. It also provides that a Creditor that votes to accept the Plan will grant releases to certain Released Parties unless the Creditor opts out of the releases on its ballot. Creditors should review the ballot and instructions carefully. The Released Parties are (a) the Debtors, (b) the Committee and the individual members thereof in their capacity as such, and (c) with respect to their service in such capacity after the Petition Date, the Debtors' and the Committee's officers, directors, employees, advisors, attorneys, professionals, accountants, investment bankers, financial advisors, consultants, and agents. A black-lined copy of the Amended Plan and Disclosure Statement is available at: http://bankrupt.com/misc/deb15-12465-0764.pdf About Fuhu, Inc. Headquartered in El Segundo, California, Fuhu, Inc. was founded in 2008 by John Hui, Steve Hui, and Robb Fujioka. Fuhu was the maker of children's Nabi tablets. Fuhu has sold more than four million tablets, with more than 1.5 million sold during the 2014 fiscal year. Nabi tablets were sold in more than 10,000 retail outlets, including Target, Best Buy, Costco Wholesale, Toys â€˜R Us, and Walmart stores. Fuhu Holdings, Inc., a wholly-owned subsidiary, owned significant intellectual property assets, including trademarks and copyrights. Fuhu, Inc., and Fuhu Holdings, Inc., filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Lead Case No. 15-12465) on Dec. 7, 2015. The petitions were signed by James Mitchell as chief executive officer. Judge Christopher S. Sontchi presides over the cases. The Debtors estimated assets in the range of $10 million to $50 million and liabilities of $100 million to $500 million. The Debtors tapped (a) Pachulski Stang Ziehl & Jones LLP as bankruptcy counsel; (b) FTI Consulting, Inc., as financial advisor, (c) KRyS Global USA, LLC, as financial advisor and investment banker, and (d) Kurtzman Carson Consultants LLC, as claims, noticing, and balloting agent. The Official Committee of Unsecured Creditors won approval to retain (i) Cooley LLP and Ballard Spahr LLP as bankruptcy counsel to the Committee, (ii) PricewaterhouseCoopers LLP as provider of financial advisory and certain data preservation services to the Committee, and (iii) Berkeley Research Group LLC as forensic accountants. * * * Mattel Inc. won an auction for the assets of the Debtors with an offer of $21.5 million, subject to certain adjustments. The Court approved the sale to Mattel on Jan. 22, 2016. Debtor Fuhu Inc., changed its name to Arctic Sentinel, Inc., following the sale of the assets. GEORGE HENRY: Creditors' Rights Unchanged Under Sept. 30 Plan ------------------------------------------------------------- George Henry Richards delivered to the U.S. Bankruptcy Court for the Northern District of California its proposed combined plan of reorganization and tentatively approved disclosure statement dated Sept. 30, 2016. Counsel for the Debtor, Matthew D. Metzger, Esq., informed the Court that under the September 30 Plan, the creditors' rights remain unchanged. However, a modified table format of the list of creditors was reflected to show the (i) Class, (ii) Name of Creditor, (iii) Collateral, (iv) Amount Due, (v) Interest Rate, (vi) Monthly Payment, and (vii) Term. Mr. Metzger said the Debtor will "strip lien to value of collateral and pay over time." Hence, this language was removed: "Before confirmation, Debtor will obtain an order from the court determining the value of the above collateral. Debtor will pay as a secured claim the amount equal to the value of the collateral . . . Any remaining amount due is a general unsecured claim treated in Part 2." Under Tax Claims, this category was added: (d) Other Priority Claims - Tenant Security Deposits 1 Third Street, San Rafael, CA 94901 ------------------------------------ Name of Tenant Deposit Amount -------------- -------------- Dr. Scott Sinclair $1,000.00 Brendan O'Rourke $700.00 1 Third Street, San Rafael, CA 94901 - Dock ------------------------------------------- Name of Tenant Deposit Amount -------------- -------------- Clifford Bara No deposit 200 East Street, Penngrove, CA 94951 ------------------------------------ Name of Tenant Deposit Amount -------------- -------------- Mary and Roxanne Urry $1,800.00 The Debtor will retain deposits until tenants vacate. Upon a vacancy, Debtor will return deposits to tenants. Lastly, a modified table column format for Executory Contracts and Unexpired Leases was reflected to show (i) Name of CounterParty, (ii) Description of Contract/Lease, and (iii) Monthly Rent. A full-text copy of the Sept. 30 combined Plan and tentatively approved Disclosure Statement is available at: http://bankrupt.com/misc/canb14-30320-154.pdf George Henry Richards filed for Chapter 11 bankruptcy protection (Bankr. N.D. Cal. Case No. 14-30320). The Debtor is represented by Matthew D. Metzger, Esq., of Belvedere Legal, PC. GF FINANCE: Unsec. Creditors to Be Paid in Full With Interest ------------------------------------------------------------- GF Finance, Inc., and owner Stephen T. Hansen jointly proposed a reorganization plan that provides that holders unsecured claims will be paid in full with simple interest at the rate of 2.25% per annum no later than the third anniversary of the Effective Date. Holders of allowed unsecured claims will receive the following amounts in payment of their allowed claims: (a) beginning on the first day of the first calendar month following the Effective Date, 35 monthly principal and interest payments calculated based on a 15-year amortization schedule with simple interest at the rate of 2.25% per annum; and (b) a single payment of all remaining principal and interest on or before the third anniversary of the Effective Date. Hansen will retain 100% of his equity security interests in GFF. Hansen will not receive any distributions, dividends, or other payments from GFF until all allowed claims against the debtors have been paid in full. Hansen will continue to direct and manage all of the operations and affairs of GFF. The Court has scheduled for Nov. 15, 2016, at 2:30 p.m. the hearing to consider the approval of the Disclosure Statement. A copy of the Disclosure Statement explaining the Debtors' Plan of Reorganization is available at: http://bankrupt.com/misc/azb16-10282_DS_GF_Finance.pdf The Debtors' attorneys: Todd A. Burgess, Esq. GALLAGHER & KENNEDY, P.A. Attn.: Todd A. Burgess 2575 East Camelback Road Phoenix, Arizona 85016-9225 Facsimile: (602) 530-8500 E-mail: todd.burgess@gknet.com About GF Finance, Inc. GF Finance, Inc., based in Phoenix, AZ, filed a Chapter 11 petition (Bankr. D. Ariz. Case No. 16-10282) on Sept. 7, 2016. The petition was signed by Stephen T. Hansen, as president and owner. Stephen T. Hansen himself simultaneously filed his own Chapter 11 petition (Case No. 16-10283). The Hon. Paul Sala presides over the cases. Mr. Hansen is a 74 year old resident of the State of Arizona currently residing in Scottsdale with Roberta (aka Bobbi), his loving and devoted wife of 32 years. Hansen operated successful equipment finance and car rental businesses in the State of North Dakota for more than 40 years. Debtor GFF is a privately-held North Dakota corporation 100% owned by Hansen. GFF is in the equipment financing and leasing business specializing in over-the-road tractors and trailers, farm equipment, and light-duty construction equipment. GFF has not originated any new business during the 12 months preceding its bankruptcy case and was (and is) in the process of winding down. No official committee of unsecured creditors has been appointed in the case. Todd A. Burgess, Esq., at Gallagher & Kennedy, P.A., is the bankruptcy counsel to the Debtors. The Debtors also tapped MCA Financial Group Ltd. as financial advisor and Ritchie Bros. Auctioneers and Steffes Group as equipment auctioneers. The Court established Nov. 7, 2016 as the last day for all creditors and parties-in-interests to file proofs of claim in the Bankruptcy Case. GLADES BREWERY: Third Amended Disclosure Statement Filed -------------------------------------------------------- Glades Brewery Partners, Ltd., and Glades Brewery Partners, Inc., filed with the U.S. Bankruptcy Court for the Southern District of Florida a third amended disclosure statement describing the Debtors' plan of reorganization. Under the Plan Class 1 are the Secured claim(s) of Marlin Leasing for the lease of various equipment of the Debtor. The Debtor proposes to leave unaltered the legal and contractual obligations owed to Class 1 claimants. Class 2 is the secured claim(s) of Rewards Network Establishment Services Inc. Claim No. 27 of Rewards Network in the amount of at least $144,937.56 and claimed as secured by ReWards Network is reduced to an allowed secured claim in the total amount of $15,000. The Debtor shall pay the Allowed Secured Claim in 12 equal monthly installments of $1,250.00 commencing 60 days from the Effective Date. Rewards Network shall retain all of its existing liens and security interests in all of the assets of the Debtor to secure the Allowed Secured Claim. Upon any default by the Debtor in timely paying the Allowed Secured Claim, Rewards Network shall be entitled to exercise all of its rights and remedies under any security agreement executed by the Debtor, which shall remain in full force and effect notwithstanding the confirmation of any plan of reorganization. Rewards Network agrees that the unsecured balanceiof the claim shall be disallowed for the purpose of this bankruptcy case only, and subject to the full and timely payment of, the Allowed Secured Claim. Class 3 is the secured claim(s) of Florida Community Bank, NA. The secured claims are to be assigned to Arbern MIP LTD pursuant to a settlement agreement among non-debtor parties. Arbern MIP LTD is a limited partnership that is mainly owned by Morris L. Stoltz, II, and his spouse. All conditions precedent for the assignment have been met. The Debtor proposes to pay Class 3 the annual sum of $200,000.00 over a period of 10 years, beginning 90 days after the Effective Date. The annual amount shall be paid in monthly installments of $16,666.67. However, in no event shall Florida Community Bank, NA and or its assignees Arbern MIP LTD be paid more than it is entitled to receive pursuant to obligations owed to it, including any amendments to said obligations. Class 4 is the allowed general unsecured claims of $1,000.00 or less or allowed Class 5 claimants who agree to reduce their claim to $1,000.00 and agree to be treated as a Class 4 claimant. The Debtor proposes to pay all allowed Class 4 claimants 50% of their allowed claim on the Effective Date. Class 5 is all other general unsecured allowed claims not otherwise dealt with in the Plan. The Debtor proposes to distribute the sum of $50,000.00 pro-rata and without interest to all allowed Class 5 claimants in one lump sum 90 days after the Effective Date. Class 6 claimants are equity security holders land/or insiders of the Debtor. Insiders shall subordinate to the claims of other creditors. Upon the Effective Date, the Reorganized Debtor shall be owned 100% by Morris L. Stoltz II, and/or his related entities. Morris L. Stoltz II and or his related entities will subordinate its administrative claim in the amount of $1,197,024 as of Sept. 29, 2016. Furthermore, to the extent necessary, Morris L. Stoltz II will fund the Plan payments to Class 4 and 5. A copy of the Amended Disclosure Statement is available at: http://bankrupt.com/misc/flsb14-24492-0325.pdf Glades Brewery Partners, Ltd. and Glades Brewery Partners, Inc., filed for Chapter 11 bankruptcy protection (Bankr. S.D. Fla. Case Nos. 14-24492 and 14-24493) on June 25, 2014. The Debtors are represented by Kenneth S. Rappaport, Esq., at Rappaport Osborne Rappaport & Kiem, PL. GOODRICH PETROLEUM: Exits Chapter 11 Bankruptcy Process ------------------------------------------------------- Goodrich Petroleum Corporation on Oct. 12, 2016, disclosed that it has satisfied the conditions precedent to the effectiveness of its First Amended Joint Chapter 11 Plan of Reorganization (the "Plan of Reorganization"), which was confirmed by the United States Bankruptcy Court for the Southern District of Texas on Sept. 28, 2016, and has emerged from bankruptcy. By working constructively with its creditors and other stakeholders, the Company emerged from bankruptcy with the same assets and having substantially reduced its total long-term debt and cost structure, which provides the post-emergence Company with a significantly improved capital structure to maximize the value of its asset portfolio. In conjunction with its emergence from bankruptcy and pursuant to the Plan of Reorganization, the Company received $40 million in new capital through the issuance of Convertible Second Lien Senior Secured Notes due 2019. The $20 million of the new capital was used to pay down the Company's outstanding borrowings under its previous senior credit facility to $20 million, which is now the outstanding principal amount of the Company's new senior secured credit facility led by Wells Fargo Bank, National Association as administrative agent. The Company also has $20 million in cash from the new capital to fund initial development of its Haynesville Shale drilling program. Furthermore, effective on Oct. 12, the Company's Board of Directors will be comprised of Walter G. Goodrich and Robert C. Turnham, Jr., who are existing directors of the Company, together with new directors Ronald F. Coleman, Eugene I. Davis, K. Adam Leight, Timothy D. Leuliette and Thomas M. Souers. In accordance with the Plan of Reorganization, the Company's existing common stock has been cancelled, and its new common stock will be issued to the second lien notes claim holders, unsecured notes claim holders, general unsecured claim holders and management. The Company anticipates that its common stock will be traded on the OTC Markets marketplace within 2-3 weeks, with plans to list on a major exchange at a later date. Lazard acted as financial advisor and Vinson & Elkins L.L.P. acted as legal counsel to the Company in connection with the bankruptcy process. About Goodrich Petroleum Goodrich Petroleum Corporation is an independent oil and natural gas company engaged in the exploration, development and production of oil and natural gas on properties primarily in (i) Southwest Mississippi and Southeast Louisiana, which includes the Tuscaloosa Marine Shale Trend, (ii) Northwest Louisiana and East Texas, which includes the Haynesville Shale, and (iii) South Texas, which includes the Eagle Ford Shale Trend. Goodrich Petroleum and its subsidiary Goodrich Petroleum Company, L.L.C., filed voluntary petitions on April 15, 2016 (Bankr. S.D. Tex.) to pursue a pre-packaged Chapter 11 plan of reorganization. The Debtors have filed a motion with the Court seeking joint administration of the Chapter 11 Cases under the caption In re Goodrich Petroleum Corporation, et al. (Case No. 16-31975). Goodrich estimated $50 million to $100 million in assets and $500 million to $1 billion in liabilities. The petition was signed by Robert C. Turnham, Jr., president and chief operating officer. Bankruptcy Judge Marvin Isgur presides over the case. Bradley Roland Foxman, Esq., Garrick Chase Smith, Esq., Harry A. Perrin, Esq., David S. Meyer, Esq., and Lauren R. Kanzer, Esq., at Vinson & Elkins LLP, serve as the Debtors' counsel. Lazard Freres & Co. LLC, serves as the Debtors' investment banker while BMC Group, Inc., serves as notice, claims and balloting agent. The Office of the U.S. Trustee on April 27 appointed six creditors of Goodrich Petroleum Corporation to serve on an Official Committee of Unsecured Creditors. The Committee retained Akin Gump Strauss Hauer & Feld LLP as counsel and Opportune LLP as its financial advisor. GRANT THORNTON: Louisiana Court Dismisses Securities Claims ----------------------------------------------------------- Stroock & Stroock & Lavan LLP client Grant Thornton International Ltd. was dismissed from a federal lawsuit seeking $100 million in damages from numerous defendants for alleged securities law violations. On Sept. 15, 2016, District Court Judge Shelley D. Dick of the Middle District of Louisiana dismissed all claims against Grant Thornton International Ltd., which have been pending since 2013, for lack of personal jurisdiction. The victory follows Stroock's earlier successful appeal to the United States Court of Appeals for the Fifth Circuit, which in a matter of first impression, vacated the District Court's prior order remanding the case to state court and directed that the case proceed in federal court under the Court's bankruptcy subject matter jurisdiction. Stroock then continued to advocate for dismissal of Grant Thornton International Ltd. for lack of personal jurisdiction. This is an actively evolving area of the law where it has become increasingly difficult to bring claims against foreign entities in US courts when those claims do not arise from contacts between those entities and the relevant forum in the US. The Court agreed that was the case here. Stroock attorneys representing Grant Thornton International Ltd. were James L. Bernard and David M. Cheifetz, along with Craig Isenberg and Stephen L. Miles of Barrasso, Usdin, Kupperman, Freeman & Sarver in New Orleans. Stroock's Bernard and Cheifetz said, "We are extremely pleased with the Court's decision, including that Grant Thornton International Ltd. is a non-practicing UK-based umbrella entity that had nothing to do with the audit reports or transactions at issue in this case and had no relevant contacts with the US that would subject it to the jurisdiction of US courts." Additional Matter Details Plaintiffs were several Louisiana municipal pension funds that brought various claims in Louisiana state court seeking to recover their alleged $100 million lost investment in a bankrupt Cayman Islands hedge fund. Plaintiffs alleged that Grant Thornton International Ltd was liable for plaintiffs' losses in connection with audit reports prepared for the fund. The Court found that Grant Thornton International Ltd. is a non-practicing international umbrella entity, incorporated in England and Wales and headquartered in London, which performs no audit work. The Court then evaluated Grant Thornton International Ltd's alleged contacts with the United States and found that it had insufficient contacts with the United States for either general or specific personal jurisdiction. The Court agreed with Stroock's argument that absent exceptional circumstances, which were not present in this case, controlling authority from the United States Supreme Court excluded the possibility for general jurisdiction in the United States over a United Kingdom entity such as Grant Thornton International Ltd. The Court further agreed that the plaintiffs did not meet their burden to establish specific jurisdiction over Grant Thornton International Ltd. because the plaintiffs did not plead any direct or purposeful communication by Grant Thornton International Ltd directed at the United States from which the claims arose. Earlier in the proceedings, after defendants removed the case to federal court, Judge Dick decided to abstain from exercising federal subject matter jurisdiction and ordered the case remanded to Louisiana state court without deciding Grant Thornton International Ltd's pending motion to dismiss. Stroock successfully led the appeal of that decision on various bankruptcy-related grounds to the Fifth Circuit Court of Appeals, which, after considering several issues of first impression, unanimously vacated the District Court's abstention and remand order and required the District Court to exercise its federal jurisdiction over the claims. Following the Supreme Court's denial of plaintiffs' petition for certiorari, to which Stroock filed an opposition, Judge Dick then granted Grant Thornton International Ltd's motion to dismiss for lack of personal jurisdiction. Stroock & Stroock & Lavan LLP -- http://www.stroock.com/-- is a law firm providing transactional, regulatory and litigation guidance to financial institutions, multinational corporations, investment funds and entrepreneurs in the U.S. and abroad. With a rich history dating back 140 years, the firm has offices in New York, Washington, DC, Los Angeles and Miami. GREEN COAL: U.S. Trustee Seeks for Ch. 11 Trustee Appointment ------------------------------------------------------------- The United States Trustee, Judy A. Robbins, moves the United States Bankruptcy Court for the Southern District of West Virginia to direct the appointment of a Chapter 11 Trustee for Green Coal, LLC. The Debtor is controlled and managed by Zachary B. Burkons, a Special Receiver appointed by Honorable Joanna Tabit through an Order dated August 16, 2016 in the Circuit Court of Kanawha County. When this case was filed on August 31, 2016, the Special Receiver filed a Voluntary Petition that provided the following information: (a) that the Special Receiver did not expect funds available for distribution to unsecure creditors after administrative expenses are paid; (b) there are 1-49 creditors; (c) estimated assets were valued at $0-$50,000; and, (d) liabilities were estimated at $0-50,000. The U.S. Trustee concerns the pending State Court criminal action against Mr. Burkons for the alleged assault on Dennis Johnson, the sole member of the debtor, that is scheduled for trial on October 20, 2016 in Boyd County, Kentucky. The U.S. Trustee believes that allowing Mr. Burkons to remain in charge of the management and control of the debtor would delay the administration of the case and be detrimental to and not in the best interest of creditors. The U.S. Trustee noted that an independent Chapter 11 Trustee can assess the prospects for rehabilitation and can liquidate or otherwise administer estate assets and pursue estate causes of action in the interests of the creditors. The U.S. Trustee is represented by: Debra A. Wertman, Esq. OFFICE OF U.S. TRUSTEE United States Courthouse, Room 2025 300 Virginia Street East Charleston, WV 25301 Tel.: (304)347-3400 About Green Coal On May 18, 2016, the Circuit Court Judge entered an Order appointing a special receiver in certain of Deenis Ray Johnson's entities. A substitute special receiver, Zachary Burkons, was ultimately appointed on August 15, 2016. The successor special receiver filed Chapter 11 petitions for Appalachian Mining and Reclamation, LLC, Green Coal, LLC, Joint Venture Development, LLC, Producers Coal, Inc., Producers Land, LLC, and Redbud Dock, LLC. Green Coal, LLC's bankruptcy case is Case No. 16-30399 (Bankr. S.D. W.Va.). Dennis Ray Johnson is a businessman with ownership interests in at least 10 entities. He operates various rental real estate entities and coal associated operations. Mr. Johnson is a member of each of the following debtor companies -- Appalachian Mining and Reclamation, LLC, DJWV1, LLC, DJWV2, LLC, Elkview Reclamation and Processing, LLC, Green Coal, LLC, Joint Venture Development, LLC, Little Kentucky Elk, LLC, Moussie Processing, LLC, Producer's Coal, Inc., Producer's Land, LLC, Redbud Dock, LLC, Southern Marine Services, LLC, Southern Marine Terminal, LLC, and The Silo Golf Course, LLC -- and has filed a motion asking the Bankruptcy Court to jointly administer the bankruptcy cases. Mr. Johnson is also a guarantor of the debt for most of the companies. GRM BAY WASH: Unsecureds to Recover 10% Under Chapter 11 Plan ------------------------------------------------------------- GRM Bay Wash, LLC, and GRM Bay Wash of DelMarva, LLC, delivered to the U.S. Bankruptcy Court for the District of Maryland a joint disclosure statement outlining their Plan of Reorganization. Class 10 Claims filed against GRM Bay Wash consist of the Allowed Unsecured Claim of BGE at $1,297; the Disputed Unsecured Claim of First Mariner Bank at $4,449; the Disputed Unsecured Claim of Bay Area Disposal at $154; the Disputed Unsecured Claim Car Wash Solutions at $161; the Disputed Unsecured Claim of DiNenna Li CPAs at $490; the Disputed Unsecured Claim of Donald Moore at $6,000; the Disputed Unsecured Claim of Gary Middleton at $3,000; the Disputed Unsecured Claim of Home Depot at $104.83; the Disputed Unsecured Claim of Kleen Rite at $12,500; the Disputed Unsecured Claim of Landscaping Guys of MD $1,200; the Disputed Unsecured Claim of Penn National Insurance Co. at $3,942; the Disputed Unsecured Claim of Souza Law at $4,590; and the Disputed Unsecured Claim of Verizon $115. Class 3 Claims filed against GRM Bay Wash of DelMarva consist of the Disputed Unsecured Claim of A & N Electric Cooperative at an Unknown amount; the Allowed Unsecured Claim of Allen Clark Construction at $3,200; the Disputed Unsecured Claim of Oak Hall Material at $1,100; the Allowed Unsecured Claim of Penn National Insurance Co. at $880; and the Disputed Unsecured Claim of Verizon at $82.4. The Plan provides that in full and complete satisfaction, discharge and release of the Class 10 and Class 3 Claims, the Allowed Unsecured Claims will receive Cash Distributions from Cash Flow anticipated to represent a minimum of 10% of their Face Amount of the Allowed Claims in Pro Rata distribution on their Allowed Amount over 60 months from the Effective Date in adjustable monthly installments. This dividend may increase should Reserves exist; however, this 10 percent will act as a minimum Cash Disbursement for Allowed Unsecured Claims. A full-text copy of the Disclosure Statement is available at: http://bankrupt.com/misc/mdb15-26727-77.pdf GRM Bay Wash, LLC (Case No. 15-26725) and GRM Bay Wash of DelMarva, LLC (Case No. 15-26727) sought Chapter 11 protection (Bankr. D. Md.) on Dec. 1, 2015. The petition was signed by Gary R. Middleton, managing member. GERM Bay Wash estimated both assets and debts at $1 million to $10 million. GRM Bay Wash of DelMarva estimated assets at $0 to $50,000 and liabilities at $500,000 to $1 million. John Douglas Burns, Esq., at the Burns Law Firm LLC serves as the Debtor's counsel. HAJ INC: Seeks to Hire Murphy Armstrong as Special Counsel ---------------------------------------------------------- HAJ, Inc. seeks approval from the U.S. Bankruptcy Court for the District of Oregon to hire Murphy Armstrong & Felton LLP as special counsel. The firm will assist the Debtor in matters related to its potential pollution contribution in connection with EPA's Portland Harbor Superfund Site clean-up efforts. Fees to be incurred by Murphy Armstrong will be paid by the Debtor's insurance carriers, according to court filings. Katherine Felton, Esq., at Murphy Armstrong, disclosed in a court filing that her firm does not hold any interests adverse to the interest of the Debtor's bankruptcy estate or its creditors. The firm can be reached through: Katherine Felton, Esq. Murphy Armstrong & Felton LLP 701 Millennium Tower 719 Second Avenue Seattle, WA 98104 Tel: (206) 985-9770 Fax: (206) 985-9790 About HAJ Inc. HAJ, Inc., doing business as Christensen Oil, filed a chapter 11 petition (Bankr. D. Ore. Case No. 16-32787) on July 18, 2016. The petition was signed by Lawrence W. Lesniak, CEO. The Debtor is represented by John Carten Rothermich, Esq., at Garvey Schubert Barer. The case is assigned to Judge Randall L. Dunn. The Debtor discloses total assets in the amount of $2.79 million and total liabilities in the amount of $1.72 million. HOTEL PARK: Voluntary Chapter 11 Case Summary --------------------------------------------- Debtor: Hotel Park Regency LLC 7312 Beverly Manor Drive Annandale, VA 22003 Case No.: 16-13442 Chapter 11 Petition Date: October 11, 2016 Court: United States Bankruptcy Court Eastern District of Virginia (Alexandria) Judge: Hon. Brian F. Kenney Debtor's Counsel: Weon Geun Kim, Esq. WEON G. KIM LAW OFFICE 8200 Greensboro Drive, Suite 900 McLean, VA 22102 Tel: (571)-278-3728 Fax: (703) 462-5459 E-mail: jkkchadol99@gmail.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Moon Park, managing member. The Debtor did not include a list of its largest unsecured creditors when it filed the petition. HUGH BAILEY: Plan Outline Okayed; Nov. 22 Confirmation Hrg. Set --------------------------------------------------------------- Judge Clifton R. Jessup, Jr., approved the Eighth Amended Disclosure Statement filed by Hugh W.A. Bailey in support of his Amended Chapter 11 Plan. A hearing will be heard on Nov. 22, 2016, at 10:00 a.m. to consider confirmation of the Plan. The voting deadline on the Plan is Nov. 11. As previously reported by the Troubled Company Reporter, general unsecured creditors of Hugh W. A. Bailey are expected to receive full payment of their claims under the Debtor's latest Chapter 11 plan of reorganization. About Hugh W. A. Bailey Hugh W. A. Bailey is an employee of a medical practice owned by his daughter who is also a physician. Mr. Bailey sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ala. Case No. 13-82645) on Aug. 28, 2013. The Debtor is represented by Vincent R. Ledlow, Esq. of Ledlow P.C. and John C. Larsen, Esq., of Larsen Law P.C. HUGH WA BAILEY: Ala. DOR to Get $360 for 48 Mos., Plus 4% --------------------------------------------------------- Hugh W.A. Bailey filed a Seventh Amended Chapter 11 Plan and accompanying disclosure statement on Oct. 7, 2016, which modified the treatment of the Alabama Department of Revenue's allowed priority tax claim in the amount of $35,594. Under the Seventh Amended Plan, at the close of the confirmation hearing, the Debtor will remit to counsel for the Department the sum of $20,000 in certified funds. The balance of the Claim will be amortized over a period of five years at the rate of 4% per annum. The balance of the Claim will be paid in 48 consecutive monthly installments, the first of which will be paid on or before the Effective Date. The monthly installment amount will be $360.87; provided, however, that the final installment will be a balloon payment in the amount of $4,598.92. In the event the debtor fails to timely remit any payment due the Department under the confirmed Plan, the automatic stay will terminate with regard to the Department, and the Department may proceed with its legal and/or administrative remedies to collect any balance due for income withholding taxes for the reporting periods included in the claim without the need for notice or an opportunity to cure. As previously reported by The Troubled Company Reporter, the Debtor's general unsecured creditors will receive full payment of their claims. Unsecured creditors will be paid a pro rata distribution from a monthly payment of $3,000 or the then disposable income of the Debtor, whichever is greater, beginning in September 2024. Between the confirmation of the plan and the commencement of payments, the unsecured claims will accrue interest at the rate of 3% per annum and, during the repayment period, will also receive interest on their claims of 3% per annum. These payments will continue until the claims are paid in full. The Debtor anticipates it will take about 60 months to pay all unsecured claims in full. The total amount of unsecured claims exceeds $70,000. The Debtor will execute documents necessary to transfer and sell real and personal property pursuant to the plan. The Debtor will continue to be employed as a physician to provide the income necessary for him to fund the payments. A full-text copy of the Seventh Amended Disclosure Statement is available at http://bankrupt.com/misc/ALNB13-82645-375.pdf About Hugh W. A. Bailey Hugh W. A. Bailey is an employee of a medical practice owned by his daughter who is also a physician. The Debtor sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ala. Case No. 13-82645) on August 28, 2013. The debtor is represented by Vincent R. Ledlow, Esq., at Ledlow Law P.C., in Charlottesville, Virginia; and John. C. Larsen, Esq., at Larsen Law P.C., in Huntsville, Alabama. HUSKY IMS: Moody's Affirms B2 CFR & Rates $160MM Term Loan B2 ------------------------------------------------------------- Moody's Investors Service affirmed Husky IMS International Ltd.'s B2 corporate family rating and B2-PD probability of default rating, downgraded the first lien credit facilities ratings to B2 from B1, and assigned a B2 rating to the company's proposed $160 million first lien term loan. The Caa1 rating on the company's existing second lien term loan will be withdrawn when the refinance transaction closes. Moody's also withdrew the SGL rating. The ratings outlook remains stable. Proceeds from the new $160 million first lien term loan and balance sheet cash will be used to repay the existing $161 million second lien term loan outstanding and pay fees and expenses. "The ratings affirmation considers that Husky's refinance transaction is leverage-neutral as adjusted Debt/EBITDA remains around 5.5x," said Peter Adu, Moody's AVP. "The ratings on the first lien facilities were downgrade to the same level as the CFR due to elimination of loss absorption cushion provided by the second lien term loan", added Adu. Ratings Affirmed: Corporate Family Rating, B2 Probability of Default Rating, B2-PD $161 million second lien term loan due 2022, Caa1 (LGD5); to be withdrawn at close Ratings Downgraded: $110 million revolving credit facility due 2019, B2(LGD3) from B1 (LGD3) $1292 million first lien term loan due 2021, B2(LGD3) from B1 (LGD3) Ratings Assigned: $160 million first lien term loan due 2021, B2(LGD3) Ratings Withdrawn: SGL-2 Speculative Grade Liquidity, WR Outlook: Remains Stable RATINGS RATIONALE Husky's B2 CFR reflects leverage (adjusted Debt/EBITDA) of 5.4x at LTM Q2/2016, challenging order trends, cyclical demand and technology risks for its key product (polyethylene terephthalate (PET) injection molding equipment) offset by a strong global market position in the PET pre-form market for beverage packaging, recurring revenue derived from a large install base, and good geographic diversity. The rating also reflects solid margins, earnings diversification into growing adjacent end-markets, and good liquidity. The rating assumes very low single digit revenue growth through the next 12 to 18 months, reflective of lacklustre global economic conditions that are causing customers to delay their orders for PET equipment. Husky has good liquidity, supported by unrestricted cash of about $49 million at Q2/2016, Moody's expectation for free cash flow around $60 million for the next 4 quarters, and about $70 million of availability under its $110 million revolving credit facility due in 2019 ($35 million drawn and $5 million for letters of credit). These sources will be sufficient to cover annual term loan amortization of about $15 million. The revolving facility has no applicable financial covenant unless drawings exceed $35 million, at which point a first lien leverage covenant comes into effect. Moody's expects the covenant to have cushion in excess of 25% if applicable. Husky's has limited ability to generate liquidity from asset sales as most of its assets are encumbered. The outlook is stable because Moody's expects Husky to continue to manage its challenging new order wins for PET equipment stemming from customers remaining cautious on spending, and sustain leverage below 6x through the next 12 to 18 months. A ratings upgrade may be considered if the company shows good growth in revenue and orders over time, and sustains adjusted Debt/EBITDA around 5x and EBITA/Interest above 2.5x. The ratings may be downgraded if the company sustains adjusted Debt/EBITDA above 6.5x or EBITA/Interest below 1.25x. The principal methodology used in these ratings was Global Manufacturing Companies published in July 2014. Husky IMS International Ltd. is a global manufacturer of injection molding equipment and related components and services for the plastics industry. Revenue for the last twelve months ended June 30, 2016, was about $1.3 billion. Husky is headquartered in Bolton, Ontario, Canada. IMX ACQUISITION: Presents Procedures for L3-Led Sale Process ------------------------------------------------------------ IMX Acquisition Corp., and affiliates ask the U.S. Bankruptcy Court for the District of Delaware to authorize the bidding procedures and asset purchase agreement ("Lead Agreement") in connection with the sale of substantially all assets ("Assets") to L-3 Communications Corp. ("Lead Purchaser") for $117,500,000, subject to overbid. The Debtors comprise a leading designer and manufacturer of systems and sensors that detect trace amounts of explosives and drugs. Their products, which include handheld and desktop detection devices, are used in a variety of security, safety, and defense industries, including aviation, transportation, and customs and border protection. The Debtors have sold more than 5,000 of their detection products to customers such as the United States Transportation Security Administration, the Canadian Air Transportation Security Authority, and major airports in the European Union. The Debtor Implant Sciences Corp. issued a series of senior secured promissory notes between December 2008 and March 2014 ("Term Notes") to investors managed by BAM Administrative Services, LLC, and Platinum Partners Value Arbitrage Fund L.P. Each of the other Debtors is a guarantor under the Term Notes. In August of 2015, the Debtors, in consultation with their legal and financial advisors, began exploring several potential transactions through which to sell all or substantial parts of their business. The Debtors reached out to over 63 potential acquiring parties, distributing confidential information memorandums to 14 parties who expressed an interest in acquiring all or a portion of the Debtors' assets. As a result of the marketing process, the Debtors received three indications of interest, two of which their advisors determined fairly reflected the Debtors' valuation and should be advanced to the next stage of the marketing process. Several months after commencing their marketing process, the Debtors determined that continuing operations would either require additional capital or an extension of the maturities of the Term Notes. When it became clear that the Debtors could neither obtain new financing nor negotiate further maturity extensions with their lenders and therefore would not have the liquidity to continue their operations, the Debtors made the decision to sell their Assets through these chapter 11 cases to maximize the value of their estates for their creditors and other parties in interest. Each Debtor's respective board of directors voted to authorize their chapter 11 filings on Oct. 9, 2016. On Oct. 10, 2016, the Debtors entered into the Lead Agreement with the Lead Purchaser. The Lead Agreement evidences a value-maximizing bid of $117,500,000, subject to working capital adjustments, plus assumption of certain liabilities by the Lead Purchaser for substantially all of the assets of the Debtors. This consideration will be sufficient to repay all of the Debtors' creditors, as well as provide a return to the Debtors' equity holders. The Lead Agreement preserves the Debtors' business as a going concern and provides that substantially all of the Debtors' employees will have the ability to keep their jobs on substantially the same terms and conditions under which they are currently employed. The Lead Agreement is not conditioned on financing or the completion of due diligence. The Debtors are seeking approval of the Lead Agreement, which will also serve as the form asset purchase agreement to be provided to all prospective bidders. They propose 25 days following entry of the Bidding Procedures Order as the deadline for submitting a Modified Lead Agreement ("Bid Deadline"). The salient terms of the Lead Agreement are: a. Agreements with Management: The Sale involves the sale of the Debtors' assets as a going concern. It is expected that the Lead Purchaser will retain substantially all of the Debtors' current employees, including certain members of management, with a base salary or hourly wage (as applicable) no less favorable than those provided immediately prior to Closing. b. Closing and Other Deadlines: The Closing will take place no later than the date that is the third Business Day after the satisfaction or waiver of the conditions set forth in Article VIII of the Lead Agreement, unless another time or date is agreed to in writing by the Debtors and the Lead Purchaser. If the Closing does not occur on or before 60 days after the Bankruptcy Court's entry of the Sale Order, either the Debtors or the Lead Purchaser may terminate the Lead Agreement. c. The Debtors' and Lead Purchaser's obligations to consummate the Closing are subject to the satisfaction or waiver on or prior to the Closing Date of certain conditions. d. Sale Free and Clear of Unexpired Leases: The Debtors will use commercially reasonable efforts to assign the Assumed Contracts (which include certain property subject to a possessory leasehold interest, license, or other right) to the Lead Purchaser pursuant to section 365 of the Bankruptcy Code. e. Bid Protections: If the Lead Agreement is terminated, the Lead Purchaser will be deemed to have earned both the Expense Reimbursement in the amount of $2,000,000 and the Break-Up Fee in the amount $2,000,000 for the time and effort associated with initial due diligence and negotiation of the Lead Agreement and the value of serving as the Lead Purchaser for the marketing of the Purchased Assets. The Bid Protections were negotiated in good faith are fair and reasonable in amount, particularly in light of the due diligence the Lead Purchaser must perform on the value of the Assets, the time and expense the Lead Purchaser has invested in negotiating an agreement with the Debtors, and the lack of other offers for the Debtors' assets at the price offered by the Lead Purchaser. Accordingly, the Debtors request authorization to offer the Bid Protections to the Lead Purchaser pursuant to the terms of the Bidding Procedures Order. By the Motion, the Debtors request entry of the Bidding Procedures Order, which will, among other things, establish the following timeline: a. Deadline to Serve Sale Notice and Cure Notice: Within 2 business days after entry of the Bidding Procedures Order b. Cure Objection Deadline and Assignment Objection Deadline: Within 10 days after service of Cure Notice c. Bid Deadline: 25 days after the entry of Bidding Procedures Order d. Sale Objection Deadline: 25 days after the entry of Bidding Procedures Order e. Deadline to Notify Qualified Bidders: 1 business day after the Bid Deadline f. Auction (if required): 2 business days after the Bid Deadline g. Notice of Successful Bidder: 1 business day after Auction h. Sale Reply Deadline: 2 business days prior to the Sale Hearing i. Sale Hearing: No later than 5 days after the Bid Deadline The Bidding Procedures are designed to maximize value for the Debtors' estates while ensuring an orderly sale process. The Bidding Process affords the Debtors a sufficient opportunity to pursue a robust sale process that will maximize the value of their Assets for the benefit of their estates. The salient terms of the Bidding Procedures are: a. Bid Deadline: not later than 4:00 p.m. (PET) on the date that is 25 calendar days after the entry of the Bidding Procedures Order. b. Qualified Bidder: A bidder that offers to purchase, in cash, the Purchased Assets upon terms and conditions that the Debtors reasonably determine are at least as favorable to the Debtors as those set forth in the Lead Agreement. c. Lead Purchaser: The Lead Purchaser is deemed to be a Qualified Bidder, and the Lead Agreement is deemed to be a Qualified Bid for all purposes in connection with the Bidding Procedures and the Auction. d. Auction, Auction Procedures, and Overbids: If the Debtors receive one or more Qualified Bids in addition to the Lead Agreement, the Debtors will conduct the Auction of the Purchased Assets, which will be transcribed at 10:00 a.m. (PET) 2 business days after the Bid Deadline at the offices of Willkie Farr & Gallagher LLP, 787 Seventh Avenue, New York, New York. e. Subsequent Bid: At least an additional $4,000,000 above the prior bid. A round of bidding will conclude after each participating Qualified Bidder has had the opportunity to submit a Subsequent Bid with full knowledge of the highest bid. A copy of the Lead Agreement and the Bidding Procedures attached to the Motion is set for: http://bankrupt.com/misc/IMX_Acquisition_15_Sales.pdf The Debtors believe that their executory contracts represent valuable rights necessary to the continued operation of their businesses. To facilitate and effectuate the sale, the Debtors request approval under section 365 ofthe Bankruptcy Code of the Debtors' assumption, assignment, and sale ofthe Executory Contracts and Unexpired Leases to the Successful Bidder. The Debtors further request that the Sale Order provide that the Executory Contracts and Unexpired Leases be transferred to, and remain in full force and effect for the benefit of, the Successful Bidder, notwithstanding any provisions in the Executory Contracts and Unexpired Leases, including those described in Bankruptcy Code sections 365(b)(2) and (f)(l) and (3) that prohibit such assignment. To preserve the value of the Debtors' estates and limit the costs of administering and preserving the Assets, it is critical that the Debtors close the sale of the Assets as soon as possible after all closing conditions have been met or waived. Accordingly, the Debtors hereby request that the Court waive the 14-day stay periods under Bankruptcy Rules 6004(h) and 6006(d). The Purchaser: L-3 COMMUNICATIONS CORP. 600 Third Avenue New York, NY 10016 Attn: David Reilly is represented by: William E. Curbow, Esq. Sandeep Qusba, Esq. SIMPSON THACHER & BARTLETT LLP 425 Lexington Avenue New York, NY 10017 Proposed Counsel to Debtors: Donald J. Bowman, Jr., Esq. Matthew B. Lunn, Esq. Shane M. Reil, Esq. YOUNG, CONAWAY, STARGATT & TAYLOR LLP 1000 North King Street Wilmington, DE 19801 Telephone: (302) 571-6600 Facsimilie: (302) 571-1253 E-mail: mlunn@ycst.com dbowman@ycst.com sreil@ycst.com - and - Paul V. Shalhoub, Esq. Debra C. McElligott, Esq. WILLKIE FARR & GALLAGHER LLP 787 Seventh Avenue, New York New York, NY 10019 Telephone: (212) 728-8000 Facsimile: (212) 728-8111 E-mail: pshalhoub@willkie.com dmcelligott@willkie.com - and - Jennifer J. Hardy, Esq. WILLKIE FARR & GALLAGHER LLP 600 Travis Street, Suite 2310 Houston, TX 77002 Telephone: (713) 510-1766 Facsimile: (713) 510-1799 E-mail: jhardy2@willkie.com About IMX Acquisition IMX Acquisition Corp., also known as Ion Metrics Inc., and its affiliates, comprise a leading designer and manufacturer of systems and sensors that detect trace amounts of explosives and drugs. Their products, which include handheld and desktop detection devices, are used in a variety of security, safety, and defense industries, including aviation, transportation, and customs and border protection. The Debtors have sold more than 5,000 of their detection products to customers such as the United States Transportation Security Administration, the Canadian Air Transportation Security Authority, and major airports in the European Union. IMX Acquisition Corp. sought Chapter 11 proctection (Bankr. D. Del. Case No. 16-12238) on Oct. 10, 2016. The case is assigned to Judge Brendan Linehan Shannon. The Debtor estimated assets and liabilities in the range of $100 million to $500 million. The Debtor tapped Paul V. Shalhoub, Esq. and Debra C. McElligott, Esq. and Jennifer J. Hardy, Esq. at Willkie Farr & Gallagher, LLP as counsel. The petition was signed by William J. McGann, president. IMX ACQUISITION: Wants $5.7-Mil. DIP Loan From DIP SPV I -------------------------------------------------------- IMX Acquisition Corp. and its affiliated debtors ask the U.S. Bankruptcy Court for the District of Delaware for authorization to obtain postpetition financing from DIP SPV I, L.P., in the amount of $5.7 million, and use cash collateral. The Debtors tell the Court that they need the liquidity from the proposed DIP Facility and cash collateral to continue operating in the ordinary course of business while finalizing and effectuating the sale of their assets. The Debtors further tell the Court that the DIP Facility will play a crucial role in helping them transition into chapter 11 bankruptcy. The relevant terms, among others, of the DIP Credit Agreement are: (1) DIP Facility: $5.7 million senior secured, super-priority delayed-draw term credit facility, of which $1.5 million will be available upon entry of the Interim DIP Order and $4.2 million will be available upon entry of the Final DIP Order. (2) Interest Rate: (a) DIP Interest Rate: 12% (b) Default Interest Rate: DIP Interest Rate + 12% per annum (3) Maturity/Termination Date: The DIP Credit Agreement will terminate on the earliest of: (a) the date on which the DIP Lender provides, via electronic or overnight delivery, written notice to counsel for the Borrowers of the occurrence of an Event of Default; (b) entry of an order converting the Chapter 11 case to a case under Chapter 7 of the Bankruptcy Code or dismissing the Chapter 11 case; (c) the entry of an order in the Chapter 11 case appointing a chapter 11 trustee or examiner; (d) if the Interim DIP Order is modified at the Final Hearing in a manner unacceptable to the DIP Lender, in its reasonable discretion; (e) the effective date of a chapter 11 plan in the Chapter 11 case; (f) the approval by the Court of an Alternative Transaction; (g) the date of the closing of the Sale; and (h) the first Business Day occurring on or after the six month anniversary of the date of the DIP Credit Agreement. (4) Fees: (a) Closing Fee: $199,500 (b) Exit Fee: $427,500, minus any interest, other than default interest, paid to the DIP Lender as of the Termination Date. (5) Priority and Security: The DIP Lender is granted: (a) allowed super-priority administrative claims, which claims will have priority in right of payment over any and all obligations, liabilities and indebtedness of the Debtors, and over any and all administrative expenses or priority claims, subject to Carve-Out; (b) valid, perfected, enforceable and non-avoidable first priority liens on and security interests, in all the Debtors' currently owned and after-acquired assets and property, subject to the Carve-Out; (c) valid, perfected, enforceable and non-avoidable second priority or other junior liens on and security interests in all currently owned and after-acquired assets and property of the Debtors that are subject to specified permitted liens, as set forth in the Credit Agreement, or to valid liens in existence on the Petition Date that are perfected subsequent to such commencement; and (d) valid, perfected, enforceable and non-avoidable first priority senior priming liens and security interests in all currently-owned or after-acquired assets and property of the Debtors, subject to the Permitted Liens and the Carve-Out. (6) Chapter 11 Milestones: (a) Within one business day of the Petition Date, file the: (i) the motion to conduct the sale of substantially all of the Debtors' assets and (ii) the motion to approve bidding procedures for the sale of all or substantially all of the Debtors' assets. (b) Obtain Court approval of: (i) the Bid Procedures within 25 days of the Petition Date, and (ii) the Final DIP Order within 25 days of the Petition Date. (c) Obtain Court approval of the Sale Motion no later than 30 days after entry of approval of the Bid Procedures. (d) Close the sale of the Collateral and indefeasibly and finally pay the DIP Obligations in full, in cash, at the closing of the Sale, no later than 60 days after entry of an Order approving the Sale Motion. (7) Carve-Out: Consists of: (a) all fees required to be paid to the clerk of the Court and all statutory fees payable to the U.S. Trustee, together with the statutory rate of interest; (b) reasonable fees and expenses incurred by a trustee not to exceed $15,000; (c) all fees, costs, disbursements, charges and expenses incurred at any time before the Carve-Out Trigger Date, or any monthly fees payable to estate professionals, by persons or firms retained by the Debtors or any statutory creditors committee, to the extent such Professional Fees are allowed by the Court; and (d) all Professional Fees incurred on and after the Carve-Out Trigger Date by Professionals and allowed by the Court at any time, provided that the payment of any Professional Fees of the Professionals incurred on or after the Carve-Out Trigger Date and allowed by the Court, on a final basis, will not exceed $500,000 in the aggregate. The Debtors propose to grant the First Lien Agent and Second Line Lenders, among others, valid, perfected replacement security interests in and liens upon the collateral and prepetition collateral of the Debtors and the proceeds thereof, subject to the the DIP Facility Liens, the Permitted Liens, the Carve-Out, and in the case of the Second Lien Lenders, to the adequate protection liens of the First Lien Agent and to any valid, perfected, and unavoidable liens held by the First Lien Agent on account of the Prepetition First Lien Obligations. The Debtors are indebted to : (1) First Lien Agent BAM Administrative Services LLC in an amount not less than $20,000,000, plus all accrued interest, fees and other expenses. The First Lien Agent was granted pledges and security interests in collateral, which include the Debtors' rights and interests in personal property and the proceeds thereof. (2) Monsant Partners, LLC, in the aggregate principal amount of not less than $5,283,755, plus all accrued interest, fees, and other expenses. Monsant has security interests in collateral, which include the Debtors' rights and interests in personal property and any proceeds thereof. (3) DMRJ Group, LLC: (i) in the aggregate principal amount of not less than $1,000,000, plus all accrued interest, fees, and other expenses, pursuant to a 2009 Note; (ii) in the aggregated principal amount of not less than $17,662,137.93, plus all accrued interest, fees, and other expenses, pursuant to a Revolving Note; (iii) in the aggregate principal amount of not less than $11,970,000, plus all accrued interest, fees, and other expenses, pursuant to a 2012 Note; and (iv) in the aggregate principal amount of not less than $17,523,455, plus all accrued interest, fees, and other expenses, pursuant to a 2013 Note. The Debtors' proposed Budget covers the period beginning with the week ending Oct. 19, 2016 and ending on the week ending Jan. 2, 2017. The Budget provides for total expenses in the amount of $21,510,500 and total accruals for legal and other services in the amount of $1,487,000. A full-text copy of the Debtor's Motion, dated Oct. 10, 2016, is available at http://bankrupt.com/misc/IMXAcquisition2016_1612238bls_13.pdf About IMX Acquistion Corp. IMX Acquisition Corp., a/k/a Ion Metrics Inc., Implant Sciences Corporation, C Acquisition Corp., and Accurel Systems International Corporation filed chapter 11 petitions (Bankr. D. Del. Case Nos. 16-12238 to 16-12241) on Oct. 10, 2016. The petitions were signed by William J. McGann, president. The Debtors are represented by Paul V. Shalhoub, Esq., Debra C. McElligott, Esq., and Jennifer J. Hardy, Esq., at Willkie Farr & Gallagher LLP. The case is assigned to Judge Brendan Linehan Shannon. The Debtors retained Donald J. Bowman, Jr., Esq., Matthew B. Lunn, Esq., and Shane M. Reil, Esq., at Young, Conaway, Stargatt & Taylor LLP, as their Delaware counsel; Chardan Capital Markets, LLC and Noble Financial Capital Markets, as their financial advisors and investment bankers; and Kurtzman Carson Consultants, LLC, as their claims, noticing and solicitation agent. IMX Acquisition estimated assets and debt at $100 million to $500 million at the time of the filing. INNOCENT O. CHINWEZE: Plan Goes to Nov. 15 Confirmation Hearing --------------------------------------------------------------- Innocent O. Chinweze filed with the Bankruptcy Court in Ft. Lauderdale, Fla., his First Amended Disclosure Statement in support of his Chapter 11 Plan of Reorganization. According to the Plan, on the Effective Date, each holder of an Allowed General Unsecured Claim shall receive, in full and final satisfaction of their respective claims, a Pro Rata share of $500 per quarter for payments one through 20 to be paid from a so-called New Value payment by Mr. Chinweze pursuant to the payment schedule established in the Debtor's Disclosure Statement. Payment will commence upon the latter of (i) the Effective Date or, (ii) the date on which an order approving payment of such Allowed Unsecured Claim becomes a Final Order and be paid according to the following schedule: 1st Payment of $500.00 due by December 10, 2016 2nd Payment of $500.00 due by March 10, 2017 3rd Payment of $500.00 due by June 10, 2017 4th Payment of $500.00 due by September 10, 2017 5th Payment of $500.00 due by December 10, 2017 6th Payment of $500.00 due by March 10, 2018 7th Payment of $500.00 due by June 10, 2018 8th Payment of $500.00 due by September 10, 2018 9th Payment of $500.00 due by December 10, 2018 10th Payment of $500.00 due by March 10, 2019 11th Payment of $500.00 due by June 10, 2019 12th Payment of $500.00 due by September 10, 2019 13th Payment of $500.00 due by December 10, 2019 14th Payment of $500.00 due by March 10, 2020 15th Payment of $500.00 due by June 10, 2020 16th Payment of $500.00 due by September 10, 2020 17th Payment of $500.00 due by December 10, 2020 18th Payment of $500.00 due by March 10, 2021 19th Payment of $500.00 due by June 10, 2021 20th Payment of $500.00 due by September 10, 2021 The Disclosure Statement provides that pursuant to 11 U.S.C. Sec. 1129(a)(15), unsecured creditors have a right to object to plan confirmation. The Disclosure Statement says, "If you object to confirmation of the Plan, the value of the property to be distributed under the Plan shall not be less than the projected disposable income of the Debtor (as defined in 11 U.S.C. Sec. 1325(b)(2) to be received during the 5-year period beginning on the date that the first payment is due under the Plan (or during the period for which the Plan provides payments, whichever is longer)." The Hon. John K. Olson of the U.S. Bankruptcy Court for the Southern District of Florida has approved Mr. Chinweze's disclosure statement describing his plan. A hearing to consider the confirmation of the Debtor's Plan is scheduled for Nov. 15, 2016, at 10:30 a.m. Objections to the confirmation must be filed by Nov. 1, 2016. A copy of the First Amended Disclosure Statement is available at: http://bankrupt.com/misc/flsb16-10063-0201.pdf About Innocent Chinweze Innocent O. Chinweze sought protection under Chapter 13 of the Bankruptcy Code on Jan. 4, 2016. The case was converted to a Chapter 11 case (Bankr. S. D. Fla. Case No. 16-10063) on Feb. 17, 2016. The case is assigned to Judge John K. Olson. Mr. Chinweze is an individual who purchased multiple real estate properties. He is a lawyer licensed to practice law in New York. He moved to Florida, and suffered tremendous personal (divorce) and financial losses due to the fact that he could not practice state court law in Florida, and subsequently found himself generally overwhelmed by the strain of the economic downturn and the precipitous drop in value of real estate in the South Florida Market. Due to the downturn of the economy and rental market, he has found himself unable to procure a constant flow of tenants for his investment properties, resulting in a reduction in rental income and the inability to carry the debt burden for his investment properties. Prior to his bankruptcy filing, he was defending several foreclosure lawsuits in Broward County and Alachua County. INTELACLOUD LLC: Plan Confirmation Hearing on Nov. 9 ---------------------------------------------------- The Hon. Paul M. Glenn of the U.S. Bankruptcy Court for the Middle District of Florida has conditionally approved IntelaCloud, LLC's disclosure statement dated Sept. 26, 2016, with respect to the Debtor's Chapter 11 plan dated Sept. 26, 2016. A hearing is scheduled for Nov. 9, 2016, at 2:15 p.m. to consider the final approval of the Disclosure Statement and the confirmation of the Plan. Objections to the Disclosure Statement or confirmation of the Plan must be filed seven days before the Nov. 9 hearing. IntelaCloud, LLC, filed for Chapter 11 bankruptcy protection (Bankr. M.D. Fla. Case No. 15-04083) on Sept. 14, 2015, estimating its assets at between $100,001 and $500,000 and liabilities at between $500,001 and $1 million. Robert A Heekin, Jr., Esq., at Thames Markey And Heekin, PA, serves as the Debtor's bankruptcy counsel. INVERSORA ELECTRICA: Chapter 15 Case Summary -------------------------------------------- Chapter 15 Petitioner: Jaime Javier Barba Chapter 15 Debtor: Inversora Electrica de Buenos Aires S.A. Zenteno 3175 City of Buenos Aires, Argentina Chapter 15 Case No.: 16-12854 Type of Business: Distributor and transporter of electricity Chapter 15 Petition Date: October 12, 2016 Court: United States Bankruptcy Court Southern District of New York (Manhattan) Judge: Hon. Martin Glenn Chapter 15 Petitioner's Counsel: Fredric Sosnick, Esq. SHEARMAN & STERLING LLP 599 Lexington Avenue New York, NY 10022-6069 Tel: 212-848-8000 Fax: 212-848-7179 E-mail: fsosnick@shearman.com Current Assets: $124 million at the end of Q2 2016 Current Debts: $34.3 million at the end of Q2 2016 IRENE STACY COMMUNITY: Seeks to Hire Wally Yaracs as Auctioneer --------------------------------------------------------------- Irene Stacy Community Mental Health Center seeks approval from the U.S. Bankruptcy Court for the Western District of Pennsylvania to hire an auctioneer. The Debtor proposes to hire Wally Yaracs to conduct a public auction of its personal assets, which consist mostly of office furnishings. Pursuant to their agreement, up to four people will assist the auctioneer on the day of the sale at a rate of $15 per hour per person. The agreement provides for payment of a 9% professional fee to the auctioneer and promotional expenses of approximately $400 to $600. Moreover, Mr. Yaracs will be reimbursed for his expenses from the proceeds of the sale. Mr. Yarac's contact information is: Wally Yaracs Butler, Pennsylvania 16002 Tel: (724) 285-1372 Cell: (724) 290-2408 About Irene Stacy Irene Stacy Community Mental Health Center sought protection under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Pa. Case No. 15-24605) on December 18, 2015. The petition was signed by Brent Olean, Board president. The Debtor is represented by Allison L. Carr, Esq., at Bernstein-Burkley, P.C. The case is assigned to Judge Thomas P. Agresti. The Debtor estimated both assets and liabilities in the range of $1 million to $10 million. IREP MONTGOMERY-MRF: Court Delays Appointment of Committee ---------------------------------------------------------- A U.S. bankruptcy judge overseeing the Chapter 11 case of IREP Montgomery-MRF, LLC, issued an order on Oct. 7 delaying the appointment of an official committee of unsecured creditors. The order, issued by Judge Dwight Williams, Jr., came following recommendation from the bankruptcy administrator for the Middle District of Alabama to not to appoint a committee after only one creditor expressed interest to serve on a committee, according to court filings. About IREP Montgomery-MRF IREP Montgomery-MRF, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M. D. Ala. Case No. 16-32279) on August 20, 2016. The petition was signed by Kyle Mowitz, manager. The case is assigned to Judge Dwight H. Williams Jr. The Debtor is represented by Clyde Ellis Brazeal, III, Esq., at Jones Walker LLP. At the time of the filing, the Debtor estimated its assets at $10 million to $50 million and debts at $50 million to $100 million. JESUS MISSION CHURCH: Wants to Use Cumberland Presbyterian Cash --------------------------------------------------------------- Jesus Mission Church of Atlanta, Inc., doing business Glory Church of Jesus Christ, asks the U.S. Bankruptcy Court for the Northern District of Georgia for authorization to use cash collateral. The Debtor is indebted to Cumberland Presbyterian Church Investment Loan Program, Inc. in the outstanding principal amount of $1,183,427, with interest at 4.75%. The Debtor executed a Deed to Secure Debt, Assignment of Rents and Security Agreement in which the Debtor pledged to Cumberland Presbyterian contract rights, personal property, rents and claims. The Debtor tells the Court that it has been unable to locate a UCC-1 Financing Statement in the public records. It further tells the Court that if Cumberland Presbyterian has a valid and perfected interest in the Debtor's rental income, the security interest in an interest in cash collateral. The Debtor requires the immediate use of cash collateral on an interim basis for the payment of ordinary expenses incurred on a daily basis that are essential to the ongoing operation of the Debtor's business. The Debtor contends that without the use of cash collateral, it will be unable to operate the business and will be unable to effectively reorganize. The Debtor's proposed six-month Budget provides for total expenses in the amount of $53,481.20. The Debtor proposes to make adequate protection payments to Cumberland Presbyterian at the contractual rate of interest on the principal outstanding balance owing to Respondent, in the amount of $56,213 per year, or $4,684.40 per month. A full-text copy of the Debtor's Motion, dated Oct. 10, 2016, is available at http://bankrupt.com/misc/JesusMissionChurch2016_1667623crm_9.pdf A full-text copy of the Debtor's proposed Budget, dated Oct. 10, 2016, is available at http://bankrupt.com/misc/JesusMissionChurch2016_1667623crm_9_1.pdf Cumberland Presbyterian Church Investment Loan Program, Inc., can be reached at: CUMBERLAND PRESBYTERIAN CHURCH INVESTMENT LOAN PROGRAM, INC. 8207 Traditional Place Cordova, TN 38016 About Jesus Mission Church of Atlanta Jesus Mission Church of Atlanta, Inc., filed a chapter 11 petition (Bankr. N.D. Ga. Case No. 16-67623) on Oct. 3, 2016. The petition was signed by Heung Lee, secretary. The Debtor is represented by Edward F. Danowitz, Jr., Esq., at Danowitz & Associates, P.C. The Debtor estimated assets and liabilities at $1 million to $10 million. The Debtor's business is Christian ministry, religious services, education, counseling, and related activities. JILL MARIE MEEUWSEN-HOLMES: Bosco Credit To Get $1.98K in 240 Mos. ------------------------------------------------------------------ Jill Marie Meeuwsen-Holmes filed with the U.S. Bankruptcy Court for the Northern District of California an amended combined plan of reorganization and disclosure statement dated Oct. 5, 2016. Under the Plan, Bosco Credit, LLC c/o Franklin Credit Management Corp. -- holder of a Class 1(d) claim -- will get a monthly payment of $1,979.40, to be paid in 240 installments. Bosco Credit is owed $276,286.69. As reported by the Troubled Company Reporter on Oct. 3, 2016, the Debtor filed with the Court a combined plan of reorganization and disclosure statement dated Sept. 15, 2016, which proposed that Class 2(b) General Unsecured Claims, which total $36,363.56, receive a total monthly payment of $606.22, or 100% of their allowed claim in 60 equal monthly installments, due on the first day of the month, starting month following the Effective Date of the Plan. The Combined Disclosure Statement and Plan is available at: http://bankrupt.com/misc/canb16-40868-40.pdf Jill Marie Meeuwsen-Holmes filed for Chapter 11 bankruptcy protection (Bankr. N.D. Cal. Case No. 16-40868) on March 31, 2016. Scott J. Sagaria, Esq., at Law Offices of Scott J. Sagaria serves as the Debtor's counsel. JOINT VENTURE: U.S. Trustee Seeks for Ch. 11 Trustee Appointment ---------------------------------------------------------------- The United States Trustee, Judy A. Robbins, moves the United States Bankruptcy Court for the Southern District of West Virginia to direct the appointment of a Chapter 11 Trustee for Joint Venture Development, LLC. The Debtor is controlled and managed by Zachary B. Burkons, a Special Receiver appointed by Honorable Joanna Tabit through an Order dated August 16, 2016 in the Circuit Court of Kanawha County. When the case was filed on August 31, 2016, the Special Receiver filed a Voluntary Petition that provided the following information: (a) that the Special Receiver did not expect funds available for distribution to unsecure creditors after administrative expenses are paid; (b) there are 1-49 creditors; (c) estimated assets were valued at $1,000,001-$10,000,000; and, (d) liabilities were estimated at $500,000-$1,000,000. The U.S. Trustee concerns the pending State Court criminal action against Mr. Burkons for the alleged assault on Dennis Johnson, the sole member of the debtor, that is scheduled for trial on October 20, 2016 in Boyd County, Kentucky. The U.S. Trustee believes that allowing Mr. Burkons to remain in charge of the management and control of the debtor would delay the administration of the case and be detrimental to and not in the best interest of creditors. The U.S. Trustee noted that an independent Chapter 11 Trustee can assess the prospects for rehabilitation and can liquidate or otherwise administer estate assets and pursue estate causes of action in the interests of the creditors. About Joint Venture Development On May 18, 2016, the Circuit Court Judge entered an Order appointing a special receiver in certain of Deenis Ray Johnson's entities. A substitute special receiver, Zachary Burkons, was ultimately appointed on August 15, 2016. The successor special receiver filed Chapter 11 petitions for Appalachian Mining and Reclamation, LLC, Green Coal, LLC, Joint Venture Development, LLC, Producers Coal, Inc., Producers Land, LLC, and Redbud Dock, LLC. Joint Venture Development, LLC's bankruptcy case is Case No. 16-30403 (Bankr. S.D. W.Va.). Dennis Ray Johnson is a businessman with ownership interests in at least 10 entities. He operates various rental real estate entities and coal associated operations. Mr. Johnson is a member of each of the following debtor companies -- Appalachian Mining and Reclamation, LLC, DJWV1, LLC, DJWV2, LLC, Elkview Reclamation and Processing, LLC, Green Coal, LLC, Joint Venture Development, LLC, Little Kentucky Elk, LLC, Moussie Processing, LLC, Producer's Coal, Inc., Producer's Land, LLC, Redbud Dock, LLC, Southern Marine Services, LLC, Southern Marine Terminal, LLC, and The Silo Golf Course, LLC -- and has filed a motion asking the Bankruptcy Court to jointly administer the bankruptcy cases. Mr. Johnson is also a guarantor of the debt for most of the companies. JOSEPH D. JEUDY: Unsecureds to Recoup 51.54% Under Plan ------------------------------------------------------- Joseph D. Jeudy filed with the U.S. Bankruptcy Court for the District of Massachusetts a plan of reorganization and accompanying disclosure statement proposing to pay unsecured creditors $3,360 in five annual installments, for a total of $16,800, which will result in an approximate dividend of 51.54%. Allowed undisputed unsecured claims total approximately $32,637.56. The Debtor owns a residence with his ex-wife, and is a one third tenant in common of commercial real estate on Blue Hill Ave. in Dorchester, Massachusetts. The commercial property is a multi-tenant retail building with 20,675 square feet of rentable space of which 2000 square feet is basement space. The remaining balance to Bayview Loan Servicing, which holds a first mortgage on the commercial property, of $1,260,000, will be paid via a revised promissory note with a 30-year amortization at a fixed interest rate of 5%. The claim of Ocwen, which the Debtor assumes to be approximately $640,000, will be paid by modification of the existing mortgage or a cram down of the balance due to Ocwen. The remaining balance to Ocwen will be approximately $519,000 will be paid via a revised promissory note with a 30-year amortization at a fixed interest rate of 3.5%. The Debtor expects to fund all payments required under the Plan from cash he accumulated prior to the effective date and thereafter from the rent paid by tenants of the commercial real estate. A full-text copy of the Disclosure Statement dated October 7, 2016, is available at http://bankrupt.com/misc/mab15-14324-98.pdf Joseph D. Jeudy filed a Chapter 11 petition (Bankr. D. Mass. Case No. 15-14324) on November 5, 2015, and is represented by: Michael S. Kalis, Esq. 632 High Street Dedham, MA 02026 Tel: (781) 461-0030 Fax: (781) 461-4563 Email: mikalislaw@verizon.net JULIET APRIL DANIELS: No Issues Identified, 14th PCO Report Says ---------------------------------------------------------------- Constance Doyle, the Patient Care Ombudsman for Juliet April Daniels, has filed a fourteenth interim report for the period of August 1, 2016 through September 30, 2016. The PCO reported that there are no issues identified during the period of the observation. The PCO further reported that all care provided to the residents by the Debtor and her staff is well within the standard of care. Meanwhile, the PCO observed at the time of her visit that there is one new staff member, in replacement of one who is no longer present. The bankruptcy case is Juliet April Daniels, Case No. 1:14-bk-12047-VK (Bankr. C.D. Calif.). KEETON HEALTHCARE: Secured Claims Impaired Under 2nd Amended Plan ----------------------------------------------------------------- Keeton Healthcare Services, Inc., d/b/a Healthcare Services of America, filed with the U.S. Bankruptcy Court for the Southern District of Texas a Second Amended Disclosure Statement, which reclassified certain claims as impaired. Under the Amended Plan Outline, Class 1 Allowed Administrative Claims are reclassified as "partially impaired." These include the administrative claims of the Internal Revenue Service, which will be paid in 6 monthly installments; and the Texas Workforce Commission, which will be paid in one installment 30 days after Plan confirmation. The Class 2 Secured Claims of Frost Bank and Houston Business Development, Inc. are also reclassified as "impaired". A copy of the Second Amended Disclosure Statement filed on Sept. 30, 2016 is available at: http://bankrupt.com/misc/txsb16-31165-65.pdf As previously reported by The Troubled Company Reporter, general unsecured claims are expected to be paid in full in 52 months under the Plan. About Keeton Healthcare Keeton Healthcare Services, Inc., sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 16-31165) on March 1, 2016. The Debtor is represented by Nelson M Jones III, Esq., at the Law Office of Nelson M. Jones III. The Debtor operates an extensive range of respiratory therapy services, oxygen therapy, enteral/parenteral nutrition products and services, advanced home ventilators, sleep therapy, aerosol therapy, and providing the use of durable medical equipment. The Office of the U.S. Trustee disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case. KEITHVILLE WELL: To Sell All Assets to Pay Creditors Under Plan --------------------------------------------------------------- Keithville Well Drilling & Services, LLC, filed with the U.S. Bankruptcy Court for the Western District of Louisiana a disclosure statement explaining it proposed Chapter 11 Plan of Liquidation. In general, the means of implementation and execution of the Plan include the orderly liquidation of all remaining assets of the Estate, and the use of the resulting cash to make the payments to creditors as provided in the Plan. The Debtor will continue its efforts to sell the Debtor owned Portion of the Keithville Yard by private sale. If the Debtor has not closed a sale of the Property by July 1, 2017, the Debtor will arrange for the Property to be sold by a public auction to be conducted no later than Oct. 31, 2016. The Debtor will also arrange for the remaining machinery, equipment and vehicles to be sold by a public auction to be conducted no later than March 1, 2017. According to the Plan, after distributions to secured and priority creditors, general unsecured creditors holding Class 9 Claims will receive no distribution on account of their allowed claims. Following the performance of all other provisions of the Plan, the Debtor shall be dissolved in accordance with the laws of the State of Louisiana, whereupon the Class 10 member interests will be surrendered and cancelled. A full-text copy of the Disclosure Statement is available at: http://bankrupt.com/misc/lawb16-10545-163.pdf About Keithville Well Drilling & Services Keithville Well Drilling & Services, LLC, is a family business that was founded and operated by John Talley. Subsequently, Keithville was operated by his son, Howard Talley. Now, John Talley's grandson, Jeff Talley, and his great-grandsons, Jacob Talley and Eric Talley operate the family business. For many years, Keithville drilled residential and commercial water wells, and more recently, it drilled water supply and injection wells for the oil exploration and production industry. Keithville Well Drilling & Services sought Chapter 11 protection (Bankr. W.D. La. Case No. 16-10545) on April 1, 2016. The petition was signed by Jeffrey C. Talley, managing member. The Honorable Judge Jeffrey P. Norman is assigned to the case. The Debtor estimated assets and liabilities in the range of $1 million to $10 million. Robert W. Raley, Esq., at Ayers, Shelton, Williams, Benson & Paine, LLC, serves as the Debtor's counsel. KLEEN LAUNDRY: Gosselin Says Disclosure Statement Incomplete ------------------------------------------------------------ Foundry Street Properties, LLC and the Thomas P. Gosselin Family Trust ("Gosselin") filed an objection to Kleen Laundry and Drycleaning Services, Inc.'s Disclosure Statement, asserting that the Disclosure Statement should contain consolidated information on the entire business so that creditors can understand what the business can generate so they can make an informed decision to vote on the Plan. "The main problem with the Disclosure Statement is that it is incomplete. The Debtor is only a small piece of the larger Kleen/Envoy businesses, yet it is treated as a separate entity in the Disclosure Statement, with the Kleen/Envoy affiliates getting releases. The reality is there is a complete mixing of businesses and inter-company transactions and when the disclosure statement tries to separate the Debtor into a separate stand-alone business, all of the numbers fail." "For example, the information that has been given to creditors historically talks of one business. As a result, the intercompany debt makes no sense. For example, in 2015 the intercompany debt claim of the Debtor was $2,500,000 (+/-). This results largely from the Debtor doing Turning Bridges laundry at below cost. This continued through the petition date, yet the receivable went down to $2,022,008. The receivable should have continued to increase since laundry continued to be done at below cost. There are other intercompany transactions which suffer the same problems. "The only way to solve this problem is to treat all of the entities as one for purposes of disclosure and plan so that the entire enterprise can be effectively understood from a financial and business perspective. The disclosure statement does not do this, it parses the issues by reporting only on the Debtor, which, as stated above, is only a small piece of the enterprise. Therefore, creditors cannot fully understand the business and its prospects, especially since the affiliates get releases under the plan." Foundry Street Properties, LLC and Thomas P. Gosselin Family Trust are represented by: Steven M. Notinger, Esq. NOTINGER LAW, PLLC 7A Taggart Drive Nashua, NH 03060 Tel: (603) 417-2158 E-mail: steve@notingerlaw.com The Chapter 11 Plan Kleen Laundry and Drycleaning Services, Inc., filed a Second Amended Plan that provides for the auction sale of the business while it is a going concern. The essence of the Plan is that the business is sold. The proceeds from the sale of the business first pay off any amount of the post petition DIP loan (up to $150,000), then the proceeds are then distributed to creditors. The Second Amended Plan basically creates a pot of money from the sale of the business. At the Closing, the Debtor expects that there will be $1,545,000 in cash available to be paid to creditors of the estate. The Plan anticipates distribution of approximately $91,941 in cash to unsecured creditors together with additional payments over five years in the amount of $350,000 plus interest. The total principal and interest will be $396,250 in addition to the initial payment of $91,941 for an ultimate dividend over five years of $488,191.00, or approximately 21%. A copy of the Second Amended Disclosure Statement is available at: http://bankrupt.com/misc/nhb16-11079-198.pdf About Kleen Laundry Kleen Laundry and Drycleaning Services, Inc., is a New Hampshire corporation formed in the State of New Hampshire on June 20, 1950, as Lebanon Laundry and Dry Cleaners, Inc. The corporate name was changed to Kleen Laundry and Drycleaning Services, Inc. on May 16, 1967. Kleen Laundry and Drycleaning Services merged with Kleen Linen Service, Inc., on Dec. 29, 1972, and was the surviving entity. At the time the Chapter 11 petition was filed, the sole shareholder of Kleen Laundry and Drycleaning Services was Kleen LD, LLC (formerly Kleen LLC) which in turn is solely owned by Kleen/Envoy Services, LLC, a Delaware limited liability company. The Debtor filed a Chapter 11 petition (Bankr. D.N.H. Case No. 16-11079) on July 25, 2016. The Debtor is represented by Richard J. McPartlin, Esq. and Edmond J. Ford, Esq., at Ford & McPartlin, P.A. L & R FAMILY: Seeks to Hire Jubilee as Accountant ------------------------------------------------- L & R Family, Inc. seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to hire an accountant. The Debtor proposes to hire Jubilee Accounting Solutions, LLC to file tax returns, conduct tax research and provide other accounting services. Jamie Doerr, the accountant designated to provide the services, will be paid an hourly rate of $100. Jubilee does not hold or represent any interests adverse to the Debtor's bankruptcy estate or to any of its creditors, according to court filings. The firm can be reached through: Jamie Doerr Jubilee Accounting Solutions, LLC 2400A S. US Highway 31 Bay Minette, AL 36507 Tel: (251)580-2740 Email: JamieDoerr@CPA.com About L & R Family L & R Family, Inc., sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 16-08015) on Sept. 16, 2016. The petition was signed by Rasik Patel, president. At the time of the filing, the Debtor estimated assets and liabilities of less than $1 million. LAKEVIEW PROPERTIES: Susan & Eric Erickson To Retain Interests -------------------------------------------------------------- Lakeview Properties II, LLC, filed with the U.S. Bankruptcy Court for the District of Connecticut a second amended disclosure statement for the Debtor's second amended plan of reorganization. Under the Second Amended Plan, Susan Erickson and Eric Erickson, holders of Class 3 Equity Interests, will retain their interests in the reorganized debtor. This class is unimpaired. As reported by the Troubled Company Reporter on Sept. 23, 2016, the Debtor filed with the Court a first amended disclosure statement for the Debtor's first amended plan of reorganization, which stated that Class 2 Allowed Unsecured Claims, approximately at $106,209, are impaired. That plan stated that on a quarterly basis each year commencing on the three-month anniversary of the Effective Date and continuing for seven years and in full satisfaction of the allowed unsecured claims, the Reorganized Debtor would pay each creditor holding an allowed unsecured claim their pro rata share of the sum of $3,793.18 in full and final satisfaction of all the claims. The Second Amended Disclosure Statement is available at: http://bankrupt.com/misc/ctb15-50983-127.pdf About Lakeview Properties Lakeview Properties II, LLC, filed for Chapter 11 bankruptcy protection (Bankr. D. Conn. Case No. 15-50983) on July 17, 2015, estimating its assets and liabilities at between $500,000 and $1 million. Matthew K. Beatman, Esq., at Zeisler And Zeisler serves as the Debtor's bankruptcy counsel. LANGERMANN'S OF BALTIMORE: Wants to Use Rewards Network Cash ------------------------------------------------------------ Langermann's of Baltimore, LLC, asks the U.S. Bankruptcy Court for the District of Maryland for authorization to use cash collateral. Rewards Network holds a liquidated secured claim against the Debtor in the amount of at least $11,441 plus attorney's fees and costs allowable under the Bankruptcy Code. Rewards Network holds a valid and perfected lien and security interest in all of the collateral, including all assets and proceeds which are cash collateral. The Debtor relates that Rewards Network has consented to the Debtor's use of cash collateral, and has required post-petition performance and payment of postpetition cure amount, requiring an expenditure of $375 to $550 per month. The Debtor's proposed Budget provides for total monthly payroll in the amount of $95,505 and total monthly other controllable expenses in the amount of $18,779. The Debtor tells the Court that Creditors Maryland Department of Housing and Community Development and Can Capital, Inc., appear to be second and third in priority, respectively, with respect to claims of security interest in the cash collateral. A full-text copy of the Debtor's Motion, dated Oct. 10, 2016, is available at http://bankrupt.com/misc/LangermannsofBaltimore2016_1617913_37.pdf A full-text copy of the Debtor's proposed Budget, dated Oct. 10, 2016, is available at http://bankrupt.com/misc/LangermannsofBaltimore2016_1617913_37_1.pdf About Langermann's of Baltimore Langermann's of Baltimore, LLC, is in the business of owning, managing and operating a restaurant named Langermann's located at 2400 Boston Street, Baltimore, Maryland. Langermann's of Baltimore filed a chapter 11 petition (Bankr. D. Md. Case No. 16-17913) on June 10, 2016. The petition was signed by David McGill, member. The Debtor is represented by Stephen L. Prevas, Esq., at Prevas and Prevas. The Debtor estimated assets at $100,001 to $500,000 and liabilities at $500,001 to $1 million at the time of the filing. LDR INDUSTRIES: Court Confirms Chapter 11 Plan ---------------------------------------------- Judge Pamela S. Hollis of the U.S. Bankruptcy for the Northern District of Illinois on October 6, 2016, approved the disclosure statement explaining LDR Industries, LLC's Amended Chapter 11 Plan and confirmed the Plan. The Debtor's Amended Chapter 11 Plan incorporates the terms of the settlements the Debtor reached with the U.S. Customs and Border Protection and its indirect equity holders and former employees. As part of its settlement with the Debtor, the Customs has agreed to accept the following monetary consideration in full satisfaction and discharge of its claims, which is approximately $53.2 million, to wit: (a) retention of the $29,599 that Customs owes to the Debtor; (b) retention of the ability to offset any refund amounts resulting from additional liquidated entries against Customs Claims against the Debtor; and (c) payment of 2/3 of the funds available for distribution that are returned to the Debtor or the liquidating trust. The U.S. Customs' estimated recovery of the claim ranges from $300,000 to $600,000 depending on the amount of collateral returned to the Debtor or the liquidating trust. The Plan provides for the creation of a liquidating trust to implement the distributions called for under the Plan. Under the proposed plan, Class 6 general unsecured creditors will get 13% to 23% of their claims depending on the amount of collateral returned to the Debtor or the liquidating trust that is currently securing the outstanding letters of credit. The Debtor estimates that the outstanding Class 6 general unsecured creditors claims total approximately $3 million. At the hearing held on October 6 to consider the adequacy of the Disclosure Statement and confirmation of the Plan, the Debtor relied on the declaration of William Underwood, its president and chief executive officer, in support of the Plan. Judge Hollis found that the Debtor negotiated the settlements incorporated in the Plan in good faith and at arms' length and noted that no objections have been filed or otherwise raised regarding the settlements. About LDR Industries For over 75 years, Chicago-based LDR Industries and its predecessor companies have engaged in the distribution of plumbing products to the home improvement industry, including faucets, showers, sinks, toilet seats and variety of other specialty lines such as lead-free valves. LDR Industries, LLC, sought Chapter 11 protection (Bankr. N.D. Ill. Case No. 14-32138) in Chicago, Illinois on Sept. 2, 2014, with plans to sell the business following a dispute with the U.S. Customs. The bankruptcy case is assigned to Honorable Judge Pamela S. Hollis. The Debtor is represented by attorneys at Reed Smith LLP. The Debtor disclosed $27,538,561 in assets and $29,751,647 in liabilities as of the Chapter 11 filing. LEARFIELD COMMUNICATIONS: S&P Puts 'B' CCR on CreditWatch Neg. -------------------------------------------------------------- S&P Global Ratings said it placed its 'B' corporate credit rating on Plano, Texas-based Learfield Communications Holdings Inc. on CreditWatch with negative implications. "At the same time, we affirmed our 'B' issue-level rating on the company's first-lien senior secured credit facility because the existing debt is likely to be refinanced due to change of control language in the terms of the credit facility. As a result, we expect to withdraw the first-lien issue-level rating following the completion of the repayment. The '3' recovery rating on the first-lien facility is unchanged at this time and indicates our expectation for meaningful (50%-70%; lower half of the range) recovery in the event of a payment default," S&P said. "The CreditWatch listing reflects uncertainty regarding the purchase price and the possibility that Atairos might use incremental leverage at Learfield to finance the acquisition in a manner that increases our measure of lease and guarantee-adjusted debt to EBITDA above 7x, which is our downgrade threshold," said S&P Global Ratings credit analyst Emile Courtney. Also, upon completion of the transaction, Learfield will be controlled by a financial sponsor that may extract cash or otherwise increase leverage over time. S&P intends to resolve the CreditWatch placement over the coming months as information becomes available about the company's proposed capital structure and financial policy. While S&P believes a downgrade of the corporate credit rating is possible, given that the company's financial leverage may increase as a result of the proposed transaction, it would likely be limited to one notch if it occurs. LEN-TRAN INC: Disclosures Conditionally OK'd; Hearing on Nov. 2 --------------------------------------------------------------- The Hon. Michael G. Williamson of the U.S. Bankruptcy Court for the Middle District of Florida has conditionally approved Len-Tran, Inc.'s disclosure statement describing the Debtor's plan of reorganization. A hearing will be held on Nov. 2, 2016, at 9:30 a.m. to consider the final approval of the Debtor's Disclosure Statement and the confirmation of the Debtor's Plan. Objections to the confirmation of the Plan must be filed no later than seven days before the date of the Confirmation Hearing. Parties-in-interest will submit to the Clerk's office their written ballot accepting or rejecting the Plan no later than eight days before the date of the Confirmation Hearing. The plan proponent will file a ballot tabulation no later than 96 hours prior to the time set for the Confirmation Hearing. All creditors and parties in interest that assert a claim against the Debtor which arose after the filing of this case, including all professionals seeking compensation from the estate of the Debtor pursuant to Section 330 of the Bankruptcy Code, must file motions or applications for the allowance of the claims with the Court no later than 15 days after the entry of the Oct. 5, 2016 court order. About Len-Tran Inc. Len-Tran, Inc., dba Turner Tree & Landscape, based in Bradenton, Florida, filed a Chapter 11 petition (Bankr. M.D. Fla. Case No. 16-04145) on May 13, 2016. Elena P Ketchum, Esq., at Stichter, Riedel, Blain & Postler, P.A., serves as counsel to the Debtor. In its petition, the Debtor estimated $1 million to $10 million in both assets and liabilities. The petition was signed by Darrell Turner, president. No official committee of unsecured creditors has been appointed in the case. LIGHT TOWER: Clearlake Capital Leads Recapitalization ----------------------------------------------------- Clearlake Capital Group, L.P., and Light Tower Rentals, Inc. ("LTR" or the "Company") on Oct. 11, 2016, disclosed that certain affiliates of Clearlake have led the recapitalization of LTR in partnership with the Company's management team and other existing stakeholders. Founded in 1994 and headquartered in Odessa, Texas, LTR is a diversified specialty equipment rental company focused on oil and gas operations in the prolific Permian Basin, with yards in other leading U.S. basins including the SCOOP/STACK, Eagle Ford, Bakken and Marcellus. LTR's core equipment rental fleet includes mobile natural gas and diesel driven power generators, light towers, mobile housing units, field heaters and fluid handling products, which are all supported by a best in class service platform. LTR emerged from Chapter 11 bankruptcy protection as part of a process whereby Clearlake, in partnership with Avenue Capital, led an ad-hoc bondholder committee resulting in a fully consensual pre-packaged bankruptcy plan that was completed in less than 40 days from filing and resulted in a 90% reduction of LTR's debt. LTR was able to complete the restructuring with no disruption to its employees, customers, suppliers or operations. As LTR's new majority shareholder, Clearlake has significant experience partnering with leading companies and management teams in the industrials and energy service sectors, with numerous relevant investments in the space. "We are very proud of the entire team at LTR and we want to thank them, our customers and our suppliers for their support during this transition," said Pat Bond, President and Chief Operating Officer of LTR. "We'd also like to thank our new lead sponsor, Clearlake, for its support as we quickly executed our reorganization plan. This is a fresh start for LTR as we focus on building a leading specialty rental business that offers the same reliable equipment and customer-focused services that have always made us a preferred partner to our clients. We look forward to building on our legacy as we position the Company for success during this new phase of our growth." "We are enthusiastic about this partnership and firmly believe LTR is a best-in-class operation that will benefit tremendously from this recapitalization as well as from Clearlake's strategic input and operational expertise," said Jose E. Feliciano, Founder and Managing Partner of Clearlake. "LTR can now leverage Clearlake's substantial resources, experience and relationships in the energy and oilfield sectors to propel its growth strategy and take advantage of the current market environment," added Colin Leonard, a Principal with Clearlake. "We look forward to supporting LTR and its management team as the Company executes a reinvigorated growth strategy, including through potential acquisitions." About Light Tower Rentals Light Tower Rentals, Inc. (Bankr. S.D. Tex. Case No. 16-34284), LTR Investco, Inc. (Bankr. S.D. Tex. Case No. 16-34285), LTR Holdco, Inc. (Bankr. S.D. Tex. Case No. 16-34286) and LTR Shelters, Inc. (Bankr. S.D. Tex. Case No. 16-34287) sought bankruptcy protection under Chapter 11 of the Bankruptcy Code on Aug. 30, 2016. The petitions were signed by Kieth Muncy, chief financial officer. The cases are assigned to Judge David R. Jones. The Debtors and their non-debtor affiliates are a diversified specialty equipment rental and services company focused on the oil and gas sector. The Debtors offer a diverse portfolio of surface rental equipment that can provide customers with a specific product, or when combined with other products, a comprehensive well-site rental solution. The Debtors' equipment rental fleet includes power generation units, fluid handling equipment, light towers, heaters, trailers and other equipment. The Debtors' current service operations include equipment delivery and set-up, fuel and trucking. The Debtors are represented by Patricia B. Tomasco, Esq. at Jackson Walker LLP, and Philip M. Abelson, Esq., at Proskauer Rose LLP. The Debtors' financial advisor is Zolfo Cooper, LLC; and its notice & claims agent is Prime Clerk LLC. At the time of filing, the Debtors estimated assets and liabilities at $100 million to $500 million. LITTLE KENTUCKY: DOJ Watchdog Seeks Appointment of Ch. 11 Trustee ----------------------------------------------------------------- The United States Trustee, Judy A. Robbins, asks the United States Bankruptcy Court for the Southern District of West Virginia to direct the appointment of a Chapter 11 Trustee for Little Kentucky Elk, LLC. Dennis Ray Johnson filed a voluntary Chapter 11 petition for the Debtor on May 18, 2016. The only cases in which Schedules and a Statement of Financial Affairs have been filed are Mr. Johnson's individual case and The Silo Golf Course, LLC. Despite the requests from the U.S. Trustee for schedules and a Statement of Financial Affairs, no schedules have been filed in the other cases, including that of the Debtor. The U.S. Trustee says there has been a failure of current management to file schedules, Statements of Financial Affairs, banking information, monthly financial reports, and other information requested by parties in interest. Because of the failure to file the documents that are required by the Code and the bankruptcy rules, the administration of the cases has been thwarted such that creditors may be harmed without further remedy, the U.S. Trustee asserts. The U.S. Trustee finds that any of the Debtor's failures would be grounds for a dismissal of the cases. Dismissal, however, does not appear to be in the best interest of the parties. The appointment of a chapter 11 trustee is in the best interests of creditors. In the case, a trustee can determine which cases have assets and which cases should be converted or dismissed. There are, according to the Bank, potential causes of action that creditors may have against the management. Therefore the U.S. Trustee moved that an independent fiduciary is the only remedy for creditors in the cases. About Little Kentucky Elk The Little Kentucky Elk, LLC sought protection under Chapter 11 of the Bankruptcy Code in the Southern District of West Virginia (Huntington) (Case No. 16-30251) on May 18, 2016. The petition was signed by Dennis Johnson, president. The case is assigned to Judge Frank W. Volk. The Debtor estimated both assets and liabilities in the range of $1 million to $10 million. Mr. Johnson is a businessman with ownership interests in at least 10 entities. He operates various rental real estate entities and coal associated operations. Mr. Johnson is a member of each of the following debtor companies -- Appalachian Mining and Reclamation, LLC, DJWV1, LLC, DJWV2, LLC, Elkview Reclamation and Processing, LLC, Green Coal, LLC, Joint Venture Development, LLC, Little Kentucky Elk, LLC, Moussie Processing, LLC, Producer's Coal, Inc., Producer's Land, LLC, Redbud Dock, LLC, Southern Marine Services, LLC, Southern Marine Terminal, LLC, and The Silo Golf Course, LLC -- and has filed a motion asking the Bankruptcy Court to jointly administer the bankruptcy cases. Mr. Johnson is also a guarantor of the debt for most of the companies. LONG BEACH HOMEMAKERS: No PCO Appointment for Oxford Services ------------------------------------------------------------- Judge Vincent P. Zurzolo of the U.S. Bankruptcy Court for the Central District of California entered an Order on October 6, 2016, declining the appointment of a Patient Care Ombudsman for the Debtor, Long Beach Oxford Services, Inc., dba Oxford Services. The Court, however, ordered the Office of the United States Trustee to proceed with the appointment of a Patient Care Ombudsman as regards the Debtor, Long Beach Homemakers, Inc., dba Oxford Healthcare. The Debtors are represented by: Jason Wallach, Esq. GIPSON HOFFMAN & PANCIONE 1901 Avenue of the Stars, Suite 1100 Los Angeles, CA 90067-6002 Tel.: (310) 556-4660 Fax: (310) 556-8945 Email: JWallach@ghplaw.com About Long Beach Homemakers Long Beach Homemakers Inc. and Long Beach Oxford Services Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. C. D. Calif. Case Nos. 16-21788 and 16-21789) on September 2, 2016. The petitions were signed by Robert Sobel, CEO. The Debtors are represented by Jason Wallach, Esq., at Gipson Hoffman & Pancione, APC, in Los Angeles, California. The Debtors' cases are jointly administered. At the time of the 2016 filing, Long Beach Homemakers disclosed $576,767 in assets and $50.47 million in liabilities. Meanwhile, Long Beach Oxford disclosed $93,391 in assets and $50.48 million in liabilities. Long Beach Homemakers, Inc., dba Oxford Healthcare, previously filed a Chapter 11 petition (Bankr. C.D. Calif., Case No. 15-20670) on July 3, 2015, and was represented by Jeffrey B Smith, Esq., at Curd, Galindo & Smith, LLP, in Long Beach, California. At the time of the 2015 filing, the Debtor had $773,568 in total assets and $1.2 million in total liabilities. MARATHON OIL: Moody's Affirms Ba1 CFR & Changes Outlook to Stable ----------------------------------------------------------------- Moody's Investors Service changed the rating outlook for Marathon Oil Corporation to stable from negative. Moody's affirmed Marathon's Ba1 Corporate Family Rating, Ba1 senior unsecured ratings and the SGL-2 Speculative Grade Liquidity (SGL) Rating. "The change to a stable outlook reflects our expectation for Marathon's weak credit metrics to rebound beyond 2016 following its equity issuance and asset sales," commented Amol Joshi, Moody's Vice President. "Marathon's good liquidity profile will allow the company to fund negative free cash flow and address its 2017 and 2018 debt maturities." Affirmations: Issuer: Marathon Oil Corporation Probability of Default Rating, Affirmed Ba1-PD Speculative Grade Liquidity Rating, Affirmed SGL-2 Corporate Family Rating, Affirmed Ba1 Senior Unsecured Shelf, Affirmed (P)Ba1 Senior Unsecured Commercial Paper, Affirmed NP Senior Unsecured Medium-Term Note Program, Affirmed (P)Ba1 Senior Unsecured Regular Bond/Debentures, Affirmed Ba1 (LGD4) Outlook Actions: Issuer: Marathon Oil Corporation Outlook, Changed To Stable From Negative Issuer: St. John the Baptist (Parish of) LA Senior Unsecured Revenue Bonds, Affirmed Ba1 RATINGS RATIONALE The stable outlook reflects lower refinancing risk associated with its 2017 and 2018 maturities that has been alleviated as the company has boosted liquidity by selling non-core assets and issuing equity in 2016. Additionally, with rising crude prices, reflected in Moody's price estimates, Marathon's weak credit metrics are likely to rebound beyond 2016. Due to its lowered cost structure and high sensitivity to oil prices, Marathon's cash margins, capital efficiency and leverage metrics are expected to improve meaningfully in 2017 and 2018. Marathon Ba1 CFR also reflects its position as a large independent exploration and production (E&P) company with a diversified reserve and production base. Moody's does not expect a significant decline in the company's production scale pro forma for the announced non-core asset sales. In 2017, management is likely to continue focusing its capital spending program on the short-cycle North American resource plays in a subdued commodity price environment, which provide better returns with relatively lower operational risk. Marathon's senior notes are unsecured and are all rated Ba1 -- the same level as the CFR. The company's revolving credit facility is also unsecured and pari passu with the senior notes. Marathon's SGL-2 Speculative Grade Liquidity Rating reflects Moody's expectations for the company to maintain good liquidity through 2017. Boosted by asset sales and an equity issuance earlier in 2016, the company has approximately $1.8 billion of balance sheet cash as of June 30, 2016, pro forma for the PayRock Energy acquisition. Marathon has full availability under its $3.3 billion credit facility, which expires in May 2020. The company's nearest debt maturities are $682 million of senior notes due October 2017 and $854 million of senior notes due March 2018. Balance sheet cash and availability under the revolver will likely be sufficient to address the debt maturities and to fund outspending of cash flow, dividends and any working capital swings. The revolving credit facility contains a maximum debt-to-capitalization covenant of 65% as of the last day of each fiscal quarter, and Moody's expects Marathon to remain in compliance with this covenant. Moody's expects oil prices to remain in a range of $40 to $60 per barrel for the medium term with significant volatility both within and outside that band. The rating could be upgraded if the company can sustain RCF/Debt above 20% and an LFCR above 1x at the low end of that commodity price range, while production shows an increasing trend. The rating could be downgraded if RCF/Debt is sustained below 15% or if the company does not maintain adequate liquidity. The principal methodology used in these ratings was Global Independent Exploration and Production Industry published in December 2011. Marathon is a large independent E&P company with operations across many regions, including North America, Africa and offshore in the UK North Sea. MARIA ISAZA: Plan Offers 5% Recovery for Unsec. Creditors --------------------------------------------------------- Real estate agent Maria V. Isaza filed a Chapter 11 plan that promises unsecured creditors owed an estimated $466,215 a recovery of 5 cents on the dollar. According to the Amended Disclosure Statement, the Debtor will make equal quarterly payments of commencing on the first business day of the first calendar quarter following the Effective Date of $1,132, pro rata to each holder of an allowed unsecured claim for the 60 month life of the Plan. The Debtor estimates a pro rata distribution to Allowed Unsecured Creditors of 5% of total allowed unsecured claims (total distribution class 5 equal $22,635/ estimated total allowed unsecured claims $466,215). During the Chapter 11 case, the Debtor engaged in lengthy negotiations regarding her 881 Ocean Home with JP Morgan Chase Bank, N.A. and Great Florida Bank ("GFB"). The final settlement agreement was approved by the Court on Sept. 25, 2015. Pursuant to the settlement agreement as the Debtor was unable to sale the 881 Ocean Home to realize proceeds above the mortgages, GFB foreclosed. The property was sold at foreclosure in full satisfaction of the claims of GFB and Chase. The Debtor has consensually negotiated agreements with the secured lenders of 1350 NW 53rd Street and 4147 NW 23rd Court to consensually reduce the mortgages to the fair market value of the property. The Debtor's Plan proposes to treat the secured lenders classes 1, 3 through 5 in accordance with the Final Orders and proposes to pay in full the Debtor's disposable income of $330/month over the 5 year Plan to holders of allowed administrative and holders of Class 5 allowed unsecured claims. A copy of the Amended Disclosure Statement is available for free at: http://bankrupt.com/misc/flmb13-39644_250_Am_DS_M_Isaza.pdf About Maria V. Isaza Maria V. Isaza is a licensed real estate agent employed at IRM International Realty Management. Ms. Isaza and her husband, Eduardo Orozco, invested heavily in real estate during the booming real estate market of the early 2000s. In 2006, the real estate market collapsed and Ms. Isaza's real estate investments declined in value to below the amount of the mortgages on the individual properties. Currently Ms. Isaza is not earning separate income from her real estate agent license. Maria V. Isaza filed for Chapter 11 bankruptcy to restructure and salvage her interest in the four remaining properties left after losing her 785 Allendale Road, Key Biscayne, FL 33149 property in September 2013 through foreclosure. The four properties remaining were: her home at Unit 4-1, 881 Ocean Drive, Key Biscayne, FL 33142; duplex at 4147/4149 NW 23rd Court, Miami, FL 33142; duplex at 1350/1352 NW 53rd Street, Miami, FL 33142, and Unit 1004, 20 Island Avenue, Miami Beach, FL 33139. Ms. Isaza filed her voluntary Chapter 11 petition (Bankr. S.D. Fla. Case NO. 13-39644) on Dec. 13, 2013. Counsel for the Debtor: AM LAW Gary Murphree, Esq. 7385 SW 87th Avenue, Suite 100 Miami, FL 33173 Tel: 305.441.9530 Fax: 305.595.5086 E-mail: gmm@amlaw-miami.com MARK STEVENS: U.S. Trustee Seeks Amendments to Plan Outline ----------------------------------------------------------- The U.S. Trustee submitted an objection to the Disclosure Statement Dated August 26, 2016, filed by Mark Stevens and Mary Kathleen Stevens in support of their Plan of Reorganization to raise these issues: -- Certain expenses included on the Debtors' projections require further clarification or amendment: a. The projected personal expense for "Student loan pmts" requires amendment. Upon information and belief, student loan debts have been included in the class of general unsecured claims (Class 7) and will not receive disparate treatment under the Plan. b. With regard to the Debtors' personal expense deductions, clarification is required regarding the type of insurance reflected on the $500 line item for "Insurance – Other," which is in addition to business, health, auto and life insurance already included in the projections. c. To the extent the business deductions of $125 each for "Supplies" and "Office Supplies" represent separate or distinct types of expenses, more descriptive terms should be provided to distinguish the two categories. -- Additional information or clarification is required with regard to the Executive Summary set forth at pages 5-6 of the Disclosure Statement. The summary states that the estimated "allowed" amount of the Class 7 general unsecured claims is $6,000; but upon information and belief, $6,000 is the total of the Plan payments to be made on allowed claims in a far larger amount. -- The Disclosure Statement indicates that priority tax claims will be paid over 60 months, but it does not specify whether the 60-month period will run from the Petition Date as required by Section 1129(a)(9)(C)(ii), or from the Effective Date. If the Plan prescribes different treatment for the tax claims than Section 1129(a)(9)(C)(ii) requires, and if the IRS and NHDRA have agreed to such treatment, the Disclosure Statement should be amended to indicate that consent. The Chapter 11 Plan As reported in the Sept. 22, 2016 edition of the TCR, Mark L. Stevens and Mary K. Stevens filed a Chapter 11 plan that provides that holders of general unsecured claims -- estimated to total $823,919 and with allowed amount estimated at $6,000 -- will each receive a pro rata a distribution of a lump sum of $1,200 on each of the first, second, third, fourth and fifth anniversaries of the Effective Date. The Debtors will fund this Plan with income generated from the Law Practice of Mark Stevens. A copy of the Disclosure Statement is available at: http://bankrupt.com/misc/nhb16-10138-39.pdf About Mark and Mary Stevens Mark L. Stevens and Mary K. Stevens, husband and wife, reside in Hampstead, New Hampshire, with their children, two sons, ages 15 and 13. Mr. Stevens is the sole provider for his family. Mr. Stevens operates a law office as a sole proprietor located in rented space at 5 Manor Parkway, Salem, New Hampshire. The Debtors filed for Chapter 11 bankruptcy protection (Bankr. D.N.H. Case No. 16-10138) on Feb. 4, 2016. The Debtors are represented by Richard D. Gaudreau, Esq., in Salem, New Hampshire. MARSHA ANN RALLS: Oct. 20 Confirmation Hearing on BWF Plan ---------------------------------------------------------- Judge S. Martin Teel, Jr., of the U.S. Bankruptcy Court for the District of Columbia approved the disclosure statement explaining BWF Private Loan Fund, LLC's Chapter 11 Plan for Marsha Ann Ralls. According to Judge Teel, no voting on BWF's Chapter 11 Plan is necessary because all classes other than Class 2 are unimpaired and are conclusively presumed to have accepted the Plan under sections 1124 and 1126(f) of the Bankruptcy Code. As the only claimant in Class 2 of the Plan and as the proponent of the Plan, BWF is deemed to have voted in favor of the Plan consistent with its statements on the record and without the need for further voting by BWF, the judge said. The hearing on confirmation of BWF's Plan will be held on October 20, 2016 at 2:00 p.m. Objections, if any, to the confirmation of the Plan must be filed so that they are received on or before October 17, 2016. BWF, a secured creditor, on Sept. 15 filed a Chapter 11 liquidating plan that proposes to pay the Debtor's creditors in full. Under the plan, BWF and another secured creditor Capital One Bank will receive full payment of their claims from the proceeds generated from the sale of the Debtor's real property. BWF's $1.76 million claim and Capital One's $830,000 claim are secured by the property located at 1516 31st Street, NW, Washington, DC. Meanwhile, Class 3 general unsecured creditors, which assert a total of $10,960 in claims, will also be paid in full either from the sale proceeds on the effective date of the plan or from any sources available to BWF at any time before the effective date. Class 3 claims consist of Ridberg Aronson LLC's claim in the amount of $9,572, and the Internal Revenue Service's non-priority unsecured claim in the amount of $1,388. After payment of the claims and sale costs, any remaining proceeds from the sale will be paid to the Debtor. The liquidating plan will be implemented pursuant to a sale of the property. After the plan is confirmed by the court, the broker retained by BWF will market the property until the deadline for submitting bids for the property. BWF will select the best offer on the fifth day after the bid deadline. A hearing will be held no later than seven days after the best bid is selected to approve the sale of the property to the winning bidder, according to the disclosure statement explaining the liquidating plan. A copy of BWF's disclosure statement is available for free at https://is.gd/9Flxhr The Debtor has also filed her own Plan of Reorganization, which is designed to pay all secured creditors 100 cents on the dollar while at the same time stabilizing the Debtor's finances. Under the Debtor's Plan, BWF's allowed secured claim is on account of fully matured loan that has been deduced to judgment in the D.C. Superior Court case Court entered Judgment against the Debtor in the sum of $1,202,473 which include $490,000 principal; plus two months of accrued interest on principal at 13% in an amount of $10,971; plus accrued interest on principal at 25% per annum commencing Feb. 1, 2013 up through and including May 6, 2015 in an amount of $280,729; Plus the Exit Fee Payable by Borrower per section 10 of the Promissory Note in the amount of 500; Plus the Release Fee Payable by Borrower per section 11.1 of the Deed of Trust in the amount of 500.00; Plus attorneys' fees and costs in an amount of $419,773; Plus, post judgment interest, at the contract rate of 25% per annum for interest accrued on the $490,000 principal debt until paid or satisfied, at a per diem amount of $340.28 after May 6, 2015. BWF will retain its lien after confirmation until this Claim is paid in full. The class is impaired. About Marsha Ann Ralls Marsha Ann Ralls is an individual residing in a property located in the District of Columbia. The address of the real property is 1516 31st. St., NW, Washington, D.C. She operates as an entrepreneur in the field of Fine Arts. She services international clients addressing their Art needs and desires on a contractual basis. Marsha Ann Ralls filed for Chapter 11 bankruptcy protection (Bankr. D.D.C. Case No. 16-00222) on May 4, 2016. William C. Johnson Jr., Esq., at the Law Offices of William C. Johnson, Jr., serves as the Debtor's bankruptcy counsel. BWF, a secured creditor, is represented by Patrick J. Potter, Esq., at Pillsbury Winthrop Shaw Pittman LLP, in Washington, DC. MATRIX LUXURY: Seeks to Hire NewDelman as Legal Counsel ------------------------------------------------------- Matrix Luxury Homes, LLC seeks approval from the U.S. Bankruptcy Court for the District of Arizona to hire Allan D. NewDelman, P.C. NewDelman will serve as the Debtor's legal counsel in connection with its Chapter 11 case. The firm's professionals and their hourly rates are: Allan D. NewDelman $395 Roberta J. Sunkin $315 Paralegal $150 - $200 NewDelman does not represent any interests adverse to the Debtor and its bankruptcy estate, according to court filings. The firm can be reached through: Allan D. NewDelman, Esq. Allan D. NewDelman, P.C. 80 East Columbus A venue Phoenix, AZ 85012 Tel: (602) 264-4550 Email: anewdelman@adnlaw.net About Matrix Luxury Homes Matrix Luxury Homes, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Ariz. Case No. 16-09455) on August 16, 2016. The petition was signed by Troy Hudspeth, manager. The case is assigned to Judge Brenda K. Martin. At the time of the filing, the Debtor estimated its assets and liabilities at $1 million to $10 million. MEDFORD TRUCKING: IRS Objects to Disclosure Statement and Plan -------------------------------------------------------------- The Internal Revenue Service objects to Medford Trucking LLC's Disclosure Statement and Plan of Reorganization dated June 17, 2016 for these reasons: 1. On pages 17 through 19 of the Disclosure Statement and pages 12 through 13 of the Plan, the Debtor purports to release and permanently enjoin all claims – including, specifically, those of the Service – against the Debtor's "heirs, successors, assigns, transferees, current and former officers, directors, agents and employees. . . ." Plan, p. 12. 2. To the extent these provisions purport to release or enjoin the claims of the Service against any officer, employee, entity or other responsible parties, the provisions violate 11 U.S.C. Sec. 524(e) and the Tax Anti-Injunction Act, 26 U.S.C. Sec. 7421(a). 3. The Anti-Injunction Act precludes suit for the purpose of restraining the assessment or collection of any tax. In cases involving the assertion of a penalty under 26 U.S.C. Sec. 6672 against officers or directors of any entity, courts have concluded that the Bankruptcy Code does not create an exception to the Anti-Injunction Act, and does not give a bankruptcy court the power to enjoin the Service from collecting a 100% penalty from the responsible officer or a debtor corporation. American Bicycle Assoc. v. United States, 895 F.2d 1277, 1279-80 (9th Cir. 1990); A to Z Welding & Mfg. Co. v. United States, 803 F. 2d 932, 933 (8th Cir. 1986); LaSalle Rolling Mills Inc. v. United States, 832 F.2d 390, 392 (7th Cir. 1987); In re Buildwright Homes, Inc., 179 B.R. 865, 866 (Bankr. S.D. Ohio. 1994). 4. Even considering the Sixth Circuit's allowance of an injunction against non-debtors in "unusual circumstances," In re Dow Corning Corp., 280 F.3d 648, 658 (6th Cir. 2002)(citing In re Drexel Burnham Lambert Group, Inc., 960 F.2d 285, 293 (2d Cir. 1992)), the Debtor has failed to present any evidence of any of the seven factors considered for such an injunction. In re Dow Corning Corp., 280 F.3d at 658 (citing In re A.H. Robins, Inc., 880 F.2d 694, 701-02 (4th Cir. 1989)); MacArthur v. Johns-Mansville, 837 F.2d 89, 92-94 (2d Cir. 1988); In re Continental Airlines, 203 F.3d 203, 214 (3d Cir. 2000). 5. The inclusion of these provisions in the Disclosure Statement and Plan appears to be wholly unnecessary and gratuitous inasmuch as the Service has asserted only a $475.35 priority claim for interest for 2013 Federal Heavy Highway Vehicle Use Tax Return which is a non-trust fund liability. The Chapter 11 Plan Medford Trucking in June 2016 had filed a reorganization plan that provides that general unsecured creditors will receive a pro rata distribution as a result of any settlement and/or judgment in favor of the Debtor as a result of pending litigation currently being pursued by the Debtor. The Plan is designed so that upon its Effective Date all of the estate assets of the Debtors can be determined with a reasonable degree of certainty and will be distributed by counsel for the Debtors to creditors. Distribution under the Plan is in accordance with the distribution system set forth in the Bankruptcy Code. The Plan contemplates multiple distributions by the Debtor to creditors. The first distribution will be from the payment of sale proceeds from the Court-approved sale of Nov. 15, 2015. The first distribution will pay Class III claims (priority claims of the Internal Revenue Service and the West Virginia Department of Revenue) in the amount of $284,382. The remaining distributions will be from the payment of certain settlement and/or judgment awards in favor of the Debtor and any remaining sale proceeds. The Debtor currently has four active lawsuits including: Qualls v. Medford Trucking, LLC (Bad Faith Insurance Claim), Wade v. Medford Trucking, LLC (Bad Faith Insurance Claim), Medford Trucking, LLC v. Commerce Protective Insurance Company et al (Bad Faith Insurance Claim) and Medford Trucking, LLC v. Caterpillar (Warranty Claim) (the "Pending Litigation"). Upon resolution of any of the Pending Litigation, the Debtor will disburse pro-rata to remaining classes in this manner: Class III claims (Ginger Lopez) and Class V claims (General Unsecured Claimants; Penalties of the U.S. Department of Transportation and Fines from MSHA) and any remaining amounts to Class VI claims (Kevin Medford and Roger Medford). A copy of the Disclosure Statement filed June 17, 2016, is available for free at: http://bankrupt.com/misc/wvsb14-20354_542_DS_Medford.pdf About Medford Trucking Medford Trucking LLC was primarily in the business of hauling coal for Alpha Natural Resources and its subsidiaries by truck and trailer from mine sites to river docks or rail yards for further shipment to Alpha's customers. Medford Trucking LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. W.Va. Case No. 14-20354) on June 27, 2014. The case was assigned to Judge Ronald Pearson, and later reassigned as a result of Judge Pearsons' retirement to Judge Frank W. Volk. * * * The Debtor operated as a going concern under Chapter 11 from June 25, 2014, until June 26, 2015. On Nov. 16, 2015, the Bankruptcy Court approved an order allowing the Debtor to sell real property by public auction. The public auction was held by Ritchie Bros. Auctioneers (America), Inc. MEDFORD TRUCKING: Quality Car Wants Amendment to Plan Outline ------------------------------------------------------------- Quality Car and Truck Leasing, Inc., an unsecured creditor of debtor Medford Trucking LLC, objects to Disclosure Statement for the Plan of Liquidation of Medford Trucking: * To the extent that it proposes in any way to release the obligations of Debtor's members, Roger Medford and Kevin Medford, to Quality Car. * To the extent that it does not discuss how it proposes to disgorge payments which may have been made improperly to insiders of the Debtor. * To the extent that it does not discuss how it proposes to disgorge payments which may have been made improperly and without court authorization to professionals. * To the extent it does not discuss the amounts that it believes will be available to pay any amounts to unsecured creditors. Quality Car requests the Court to enter an order requiring the Debtor to amend the Disclosure Statement to set forth adequate information to permit the creditor body at large and this creditor to make an informed decision whether to approve the proposed Plan. The Chapter 11 Plan Medford Trucking in June 2016 had filed a reorganization plan that provides that general unsecured creditors will receive a pro rata distribution as a result of any settlement and/or judgment in favor of the Debtor as a result of pending litigation currently being pursued by the Debtor. The Plan is designed so that upon its Effective Date all of the estate assets of the Debtors can be determined with a reasonable degree of certainty and will be distributed by counsel for the Debtors to creditors. Distribution under the Plan is in accordance with the distribution system set forth in the Bankruptcy Code. The Plan contemplates multiple distributions by the Debtor to creditors. The first distribution will be from the payment of sale proceeds from the Court-approved sale of Nov. 15, 2015. The first distribution will pay Class III claims (priority claims of the Internal Revenue Service and the West Virginia Department of Revenue) in the amount of $284,382. The remaining distributions will be from the payment of certain settlement and/or judgment awards in favor of the Debtor and any remaining sale proceeds. The Debtor currently has four active lawsuits including: Qualls v. Medford Trucking, LLC (Bad Faith Insurance Claim), Wade v. Medford Trucking, LLC (Bad Faith Insurance Claim), Medford Trucking, LLC v. Commerce Protective Insurance Company et al (Bad Faith Insurance Claim) and Medford Trucking, LLC v. Caterpillar (Warranty Claim) (the "Pending Litigation"). Upon resolution of any of the Pending Litigation, the Debtor will disburse pro-rata to remaining classes in this manner: Class III claims (Ginger Lopez) and Class V clais (General Unsecured Claimants; Penalties of the U.S. Department of Transportation and Fines from MSHA) and any remaining amounts to Class VI claims (Kevin Medford and Roger Medford). A copy of the Disclosure Statement filed June 17, 2016, is available for free at: http://bankrupt.com/misc/wvsb14-20354_542_DS_Medford.pdf About Medford Trucking Medford Trucking LLC was primarily in the business of hauling coal for Alpha Natural Resources and its subsidiaries by truck and trailer from mine sites to river docks or rail yards for further shipment to Alpha's customers. Medford Trucking LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. W.Va. Case No. 14-20354) on June 27, 2014. The case was assigned to Judge Ronald Pearson, and later reassigned as a result of Judge Pearsons' retirement to Judge Frank W. Volk. * * * The Debtor operated as a going concern under Chapter 11 from June 25, 2014, until June 26, 2015. On Nov. 16, 2015, the Bankruptcy Court approved an order allowing the Debtor to sell real property by public auction. The public auction was held by Ritchie Bros. Auctioneers (America), Inc. MICHAEL CAPUZZO: $200 Monthly Income to Pay Off Creditors --------------------------------------------------------- Michael Capuzzo and Shari Capuzzo have filed with the Bankruptcy Court a proposed Chapter 11 plan that would pay off creditors from their monthly disposable income and profits from Bradshaw Construction Company. The Debtors own their primary residence, subject to two liens on the property. The residence is located at 4107 E. Ashler Hills Dr., Cave Creek, Arizona, and has an estimated value of $800,000. The two liens encumbering the property are $379,982 in favor of BOKF (a.k.a Bank of Oklahoma), and $471,917 in favor of James Capuzzo. The Debtors own no other real property. The Debtors believe they owe general unsecured creditors a total of $666,701 and priority unsecured creditors a total of $15,935. Under the Plan the $379,982 secured claim of BOKF, National Association, a.k.a. Bank of Oklahoma will be paid according to the terms of the pre-petition loan agreement, with the exception that any pre-petition and/or post-petition arrearage shall be paid in quarterly payments over the space of five years without interest. The $471,917 secured claim of James Capuzzo will be paid according to the terms of the prepetition loan agreement, although any prepetition or postpetition arrearages will be paid in 20 quarterly payments. Allowed Unsecured Claims of Creditors are divided into two subclasses (i) Class 3-A consists of all claims which are presumptively dischargeable, and (ii) Class 3-B consists of all claims that are non-dischargeable. The total amount to be distributed to Class 3A shall be no less than the disposable monthly income that the Debtors anticipates receiving during the five year period beginning on the Effective Date. In addition to payments from the Debtors’ Disposable Monthly Income, the Class 3A Claimants will receive a pro-rata share of any profit distributed to Michael Capuzzo from Bradshaw Construction Company. The Debtors estimates the profit distribution to the Class will be no less than $1,000 per year. The Class 3-B-1 non-dischargeable claim of Heldt Lumber will receive the treatment specified in the settlement agreement approved by the Court in Case No. 14-ap-00350. The Class 3-B-2 non-dischargeable claim of the Arizona Registrar of Contractors, which in the amount of $11,396 will be paid in full within 12 months after the Effective Date, with interest at the rate of 4.5% from the date the judgment was entered until it is paid in full. The Debtors will retain their interest in all estate property in consideration of his funding payment of allowed claims and will retain all exempt property. Furthermore, the Debtors will contribute, on the Effective Date, sufficient funds to pay administrative expenses as a contribution of new value. The Debtors estimate this contribution will be $20,000. The Debtors presently receive after-tax income of $6,600 per month from their employment. The Debtors do not know how much net profit of Bradshaw Construction will be allocated to the Debtors, but such amount will be distributed to the Debtors to fund payments to creditors. Accordingly, the Debtors’ projected net monthly income is presently $6,600. After deducting living expenses and payments on secured and priority tax claims of approximately $275 per month, the Debtors estimate that their Disposable Monthly Income is approximately $200 per month. A copy of the Disclosure Statement, dated Sept. 27, 2016, is available for free at: http://bankrupt.com/misc/azb14-02686_89_DS_Capuzzo.pdfd The Hon. Brenda K. Martin of the U.S. Bankruptcy Court for the District of Arizona has scheduled for Nov. 10, 2016, at 1:30 p.m. the hearing to consider approval of the Disclosure Statement. About the Capuzzos Michael Capuzzo and Shari Capuzzo filed for Chapter 11 bankruptcy protection (Bankr. D. Ariz. Case No. 14-02686) on March 3, 2014. Michael Capuzzo and Shari Capuzzo are a married couple with two dependent children. Prior to the Petition Date, they operated a framing contracting company, Capuzzo Construction, and custom wood beam supply company (Woodland Beams) in connection with the framing company. Capuzzo Construction held a contractor's license, although that license was terminated post-petition. The Capuzzos also held interests in different start-up construction related ventures such as Solar System AZ, LLC and ACI Forever, LLC. The Capuzzos abandoned those projects. Solar System AZ, LLC was formed in 2010 with a partner, John Sefcik. That company ceased business in 2013 when Michael Capuzzo and John Sefcik terminated their business relationship. In 2015 he began working as a supervisor for Bradshaw Construction Company, LLC, which is a licensed contractor. In August 2016, Michael acquired a membership interest in Bradshaw Construction. Michael has received gross income of approximately $2,000 per week from that company The Debtors tapped represented by Blake D. Gunn, Esq., at the Law Office of Blake D. Gunn, in Mesa, Arizona, as counsel. The Debtors have not retained any other professionals to assist in the administration of the case. The meeting of creditors pursuant to 11 U.S.C. Sec. 341 was conducted on April 28, 2014. MICHAEL MCNULTY: Jan. 2017 Plan Confirmation Hearing ---------------------------------------------------- Judge Ernest M. Robles of the U.S. Bankruptcy Court for the Central District of California approved on October 7, 2016, the disclosure statement explaining Michael McNulty's plan of reorganization, and scheduled the hearing on confirmation of the Plan for January 4, 2017, at 10:00 a.m. Written acceptances or rejections of the Plan must be received on or before November 19. No later than December 5, the Debtor must file with the court a motion seeking an order for confirmation of the Plan and a Plan Ballot Summary, together with all ballots received to accept or reject the Plan. All parties that have preliminary objections to the confirmation of the Plan must file and serve opposition papers no later than December 19, 2016. No later than December 28, 2016, the debtor may file and serve its reply to any opposition to the Confirmation Motion. Michael McNulty filed a Chapter 11 petition (Bankr. C.D. Cal. Case No. 15-22962) on August 18, 2015, and is represented by Onyinye N. Anyama, Esq., at Anyama Law Firm, APLC, in Cerritos, California. MIG LLC: Committee Drops Dentons, Hires Sewell as New Counsel ------------------------------------------------------------- The official committee of unsecured creditors of MIG LLC and ITC Cellular LLC has filed an application seeking court approval to hire new legal counsel. In its application filed with the U.S. Bankruptcy Court for the District of Delaware, the committee proposed to substitute Dentons US LLP with the Law Offices of Henry F. Sewell, Jr., LLC. The move came after Mr. Sewell, the committee's primary attorney, left Dentons and established his own firm. Mr. Sewell will be paid an hourly rate of $615, which is the same rate charged by Dentons for his services. In a court filing, Mr. Sewell disclosed that his firm is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code. Mr. Sewell's contact information is: Henry F. Sewell, Jr., Esq. Law Offices of Henry F. Sewell, Jr., LLC. 3343 Peachtree Road, Suite 200 Atlanta, GA 30326 Tel: (404) 926-0053 Fax: (404) 926-0050 Email: hsewell@sewellfirm.com About MIG LLC Formerly operating under the name "Metromedia International Group, Inc.," MIG LLC -- http://www.migllc-group.com/-- owned and operated and sold dozens of companies in diverse industries, including entertainment, photo finishing, garden equipment and sporting goods, until the late 1990s. In 1997 and 1998, MIG consummated the sale of substantially all of its U.S.-based entertainment assets and began focusing on expanding into emerging communications and media businesses. By 2005, all of MIG's operating businesses were located in the Republic of Georgia and operated through its subsidiaries. MIG LLC and affiliate ITC Cellular, LLC, filed for Chapter 11 bankruptcy protection on June 30, 2014. The cases are currently jointly administered under Bankr. D. Del. Lead Case No. 14-11605. As of the bankruptcy filing, MIG's sole valuable asset, beyond its existing cash, is its indirect interest in Magticom Ltd. The cases are assigned to Judge Kevin Gross. Headquartered in Tbilisi, Georgia, Magticom is the leading mobile telephony operator in Georgia and is also the largest telephone operator in Georgia. Magticom serves 2.4 million subscribers with a network that covers 97% of the populated regions in Georgia. Magticom is owned by International Telcell Cellular, LLC, which is 46% owned by MIG unit ITC Cellular, 51% owned by Dr. George Jokhtaberidze, and 3% owned by Gemstone Management Ltd. Formerly known as MIG, Inc., MIG was a debtor in a previous case (Bankr. D. Del. Case NO. 09-12118). It obtained approval of its reorganization plan in November 2010. The Debtors have tapped Greenberg Traurig LLP as counsel, Fox Rothschild Inc. as financial advisor; Cousins Chipman and Brown, LLP as conflicts counsel; and Prime Clerk LLC as claims and notice agent and administrative advisor. The Debtors have retained Natalia Alexeeva as chief restructuring officer. A three-member panel has been appointed in these cases to serve as the official committee of unsecured creditors, consisting of Walter M. Grant, Paul N. Kiel, and Lawrence P. Klamon. MIKE AHMED: Plan Provides No Recovery for Gen. Unsecured Claims --------------------------------------------------------------- Mike MF Alex Ahmed and Sarita D. Maharaj-Ahmed filed with the U.S. Bankruptcy Court for the Western District of Washington a Chapter 11 Plan and accompanying Disclosure Statement, which doesn't offer any payment or recovery for general unsecured claims. The estimated class size is $45,000. The Debtors -- a husband-and-wife team -- ran an auto repair and upholstery business, Four Seasons Auto Repair Service Centers, Inc., which grew to four locations, while developing a large residence with prayer rooms and raising their four children. The Debtors' ambitions exceeded their available time and when Saria got a life-altering medical condition, the Debtors found themselves over-extended. They subsequently sought bankruptcy protection. Payments and distributions under the Plan will be funded from the Debtors' income from their business Four Seasons sale of assets, as well as from the sale of their residence and vehicles. The Plan also provides for various schemes of payment for secured claims, whose holders include PNC Bank, Internal Revenue Service, CSK Auto Inc., state of Washington, and Santander Consumer USA. Collateral to these Secured Claimants are the Debtors' residence property and vehicles. The hearing to determine approval of the Disclosure Statement is scheduled for Nov. 1, 2016, at 9:00 a.m., in Vancouver, Washington. The Plan confirmation hearing is scheduled, subject to court approval, to take place on Dec. 6, 2016, at 9:00 a.m. A copy of the Disclosure Statement dated Sept. 30, 2016 is available at http://bankrupt.com/misc/wawb15-45254-60.pdf The Debtors are represented by: Joseph A. Field, Esq. Field Jerger LLP 621 SW Morrison St., Suite 1225 Portland, OR 97205 Tel: (503) 228-9115 Fax: (503) 225-0276 E-mail: joe@fieldjerger.com Mike MF Alex Ahmed and Sarita D. Maharaj-Ahmed filed a Chapter 7 bankruptcy case in November 2015 to prevent foreclosure of their assets. In March 2016, in response to objection from the U.S. Trustee with respect to their excess income, the Debtors converted their case to Chapter 11 (Bankr. W.D. Wash. Case No. 15-45354). NAKED BRAND: To Hold "Say-on-Pay" Votes Triennially --------------------------------------------------- In consultation with its board of directors, and consistent with the voting results at the Annual Meeting in respect of the Say-on-Frequency Vote, Naked Brand Group Inc. has adopted a policy by which it will conduct future stockholder advisory votes to approve the compensation of the Company's named executive officers every third year until the next required Say-on-Frequency Vote (the Company's 2022 annual meeting of stockholders) or such time that the Company's board of directors elects to amend that policy. About Naked Brand Naked Brand Group Inc. designs, manufactures, and sells men's innerwear and lounge apparel products in the United States and Canada. It offers various innerwear products, including trunks, briefs, boxer briefs, undershirts, T-shirts, and lounge pants under the Naked brand, as well as under the NKD sub-brand for men. The company sells its products to consumers and retailers through wholesale relationships and direct-to-consumer channel, which consists of an online e-commerce store, thenakedshop.com. Naked Brand Group Inc. is based in New York, New York. Naked Brand reported a net loss of US$19.06 million on US$1.38 million of net sales for the year ended Jan. 31, 2016, compared to a net loss of US$21.07 million on US$557,000 of net sales for the year ended Jan. 31, 2015. As of July 31, 2016, Naked Brand had US$2.99 million in total assets, US$1.44 million in total liabilities and US$1.55 million in total stockholders' equity. BDO USA, LLP, in New York, NY, issued a "going concern" qualification on the consolidated financial statements for the year ended Jan. 31, 2016, noting that the Company incurred a net loss of $19,063,399 for the year ended Jan. 31, 2016 and the Company expects to incur further losses in the development of its business. This condition raises substantial doubt about the Company's ability to continue as a going concern. NEW BEGINNINGS: PCO Files 4th Report on 13 Facilities ----------------------------------------------------- Laura E. Brown, Esq., the Patient Care Ombudsman for New Beginnings Care, LLC, has filed a Fourth Report before the US Bankruptcy Court for the Eastern District of Tennessee at Chattanooga on October 6, 2016. The PCO noted that the State-Long-Term Care Ombudsman in each state, where the 13 facilities of the Debtor are located, continue to follow up with their former residents to ensure that the residents did not suffer ill effects as a result of moving to a new facility. Moreover, the PCO reported that in Edwards Redeemer Healthcare and Rehab, LLC, a facility van is now reserved solely for activities and medical appointments and residents are no longer able to request individual transport services. Also in Mt. Pleasant Healthcare and Rehab, LLC, the PCO noted that the new company, who took over the facility, continues with the discussion in renovating the building. About New Beginnings New Beginnings Care, LLC, and several affiliated entities filed for Chapter 11 bankruptcy protection (Bankr. E.D. Tenn. Case Nos. 16-10272 to 16-10273; 16-10275 to 16-10280; and 16-10282 to 16-10287) on January 22, 2016. The Hon. Nicholas W. Whittenburg presides over the cases. David J. Fulton, Esq., at Scarborough & Fulton, serves as counsel to the Debtors. New Beginnings estimated under $50,000 in assets and $1 million to $10 million in liabilities. The petition was signed by Debbie Jones, member. A Consolidated list of the Debtors' 30 largest unsecured creditors is available for free at http://bankrupt.com/misc/tneb16-10272.pdf NORTEL NETWORKS: Settlement Reached in Fight Over $7.3-Bil. Fund ---------------------------------------------------------------- Peg Brickley, writing for The Wall Street Journal, reported that a deal has been reached to end the long-running fight over $7.3 billion raised in the bankruptcy liquidation of Nortel Networks Corp. According to the WSJ, the settlement, which was announced on Oct. 12, was a result of the mediation presided by Joseph Farnan, Jr., a retired federal judge. The settlement ends years of litigation that made Nortel's bankruptcy, which began in 2009, one of the priciest on record, with professional fees topping $2 billion, the report related. WSJ related that documents outlining the settlement provide that Nortel U.S. will get about 24.3% of the money, or nearly $1.8 billion. Nortel Canada gets 57.1%, or about $4.1 billion. As the parent company, Nortel Canada has been hit with the largest amount of claims, including claims from Nortel U.S. and from British pensioners, the report further related. Creditors of Nortel in the U.K., who are chiefly thousands of pensioners left with reduced incomes, get 14.0249% of the Nortel sale proceeds, or a little more than $1 billion, the report said. Including the allocation for the British creditors, Nortel's European units will share about 18.5% of the money, according to a copy of the settlement documents, the report added. The Troubled Company Reporter, on Oct. 11, 2016, citing a prior WSJ report, said warring national units of defunct Nortel Networks have failed to reach a deal on how to divide $7.3 billion raised in the bankruptcy liquidation of the company. Nortel U.S. is preparing once again to go to court against the Canadian parent company and European creditors, chiefly British pensioners, the report cited the letter, which was filed on Oct. 7 by one of Nortel U.S.'s lawyers, Derek Abbott. The federal appeals court in the U.S. is being asked to overturn a bankruptcy judge's decision on dividing the money on the grounds it is outside the bounds of the law, the report related. Nortel's U.S. lawyers set out a schedule of briefing on the appeal, but left the dates blank, saying they would like to take another month to try to reach agreement and end the litigation, the report further related. The Troubled Company Reporter, on Sept. 8, 2016, citing WSJ, reported that a settlement could be reached within a month in one of the longest running and most expensive bankruptcies on record, a lawyer for Nortel's U.S. unit told an appeals court on Sept. 7, 2016. "There is progress being made," James Bromley, Esq., lawyer for Nortel U.S., had told the appeals court. "Our hope is that we will be able to resolve this." Speaking at a hearing in the Third U.S. Circuit Court of Appeals, Mr. Bromley said at that time the Nortel combatants would know by Oct. 7 whether the latest in a long series of mediation efforts will produce a deal, the report said. If there is no settlement by Oct. 7, Nortel Canada, Nortel U.S. and European creditors will continue the court fights that have, over the years, pushed the professional fee totals to the $2 billion mark, the report noted. About Nortel Networks Headquartered in Ontario, Canada, Nortel Networks Corporation and its various affiliated entities provided next-generation technologies, for both service provider and enterprise networks, support multimedia and business-critical applications. Nortel did Networks Limited was the principal direct operating subsidiary of Nortel Networks Corporation. On Jan. 14, 2009, Nortel Networks Inc.'s ultimate corporate parent Nortel Networks Corporation, NNI's direct corporate parent Nortel Networks Limited and certain of their Canadian affiliates commenced a proceeding with the Ontario Superior Court of Justice under the Companies' Creditors Arrangement Act (Canada) seeking relief from their creditors. Ernst & Young was appointed to serve as monitor and foreign representative of the Canadian Nortel Group. That same day, the Monitor sought recognition of the CCAA Proceedings in U.S. Bankruptcy Court (Bankr. D. Del. Case No. 09-10164) under Chapter 15 of the U.S. Bankruptcy Code. That same day, NNI and certain of its affiliated U.S. entities filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 09-10138). In addition, the High Court of England and Wales placed 19 of NNI's European affiliates into administration under the control of individuals from Ernst & Young LLP. Other Nortel affiliates have commenced and in the future may commence additional creditor protection, insolvency and dissolution proceedings around the world. On May 28, 2009, at the request of administrators, the Commercial Court of Versailles, France, ordered the commencement of secondary proceedings in respect of Nortel Networks S.A. On June 8, 2009, Nortel Networks UK Limited filed petitions in U.S. Bankruptcy Court for recognition of the English Proceedings as foreign main proceedings under Chapter 15. U.S. Bankruptcy Judge Kevin Gross presides over the Chapter 11 and 15 cases. Mary Caloway, Esq., and Peter James Duhig, Esq., at Buchanan Ingersoll & Rooney PC, in Wilmington, Delaware, serves as Chapter 15 petitioner's counsel. In the Chapter 11 case, James L. Bromley, Esq., and Howard S. Zelbo, Esq., at Cleary Gottlieb Steen & Hamilton, LLP, in New York, serve as the U.S. Debtors' general bankruptcy counsel; Derek C. Abbott, Esq., at Morris Nichols Arsht & Tunnell LLP, in Wilmington, serves as Delaware counsel. The Chapter 11 Debtors' other professionals are Lazard Freres & Co. LLC as financial advisors; and Epiq Bankruptcy Solutions LLC as claims and notice agent. The U.S. Trustee appointed an Official Committee of Unsecured Creditors in respect of the U.S. Debtors. An ad hoc group of bondholders also was organized. An Official Committee of Retired Employees and the Official Committee of Long-Term Disability Participants tapped Alvarez & Marsal Healthcare Industry Group as financial advisor. The Retiree Committee is represented by McCarter & English LLP as Delaware counsel, and Togut Segal & Segal serves as the Retiree Committee. The Committee retained Alvarez & Marsal Healthcare Industry Group as financial advisor, and Kurtzman Carson Consultants LLC as its communications agent. Several entities, particularly, Nortel Government Solutions Incorporated and Nortel Networks (CALA) Inc., have material operations and are not part of the bankruptcy proceedings. As of Sept. 30, 2008, Nortel Networks Corp. reported consolidated assets of $11.6 billion and consolidated liabilities of $11.8 billion. The Nortel Companies' U.S. businesses are primarily conducted through Nortel Networks Inc., which is the parent of majority of the U.S. Nortel Companies. As of Sept. 30, 2008, NNI had assets of about $9 billion and liabilities of $3.2 billion, which do not include NNI's guarantee of some or all of the Nortel Companies' about $4.2 billion of unsecured public debt. Since the commencement of the various insolvency proceedings, Nortel has sold its business units and other assets to various purchasers. Nortel has collected roughly $9 billion for distribution to creditors. Of the total, $4.5 billion came from the sale of Nortel's patent portfolio to Rockstar Bidco, a consortium consisting of Apple Inc., EMC Corporation, Telefonaktiebolaget LM Ericsson, Microsoft Corp., Research In Motion Limited, and Sony Corporation. The consortium defeated a $900 million stalking horse bid by Google Inc. at an auction. The deal closed in July 2011. Nortel has filed a proposed plan of liquidation in the U.S. Bankruptcy Court. The Plan generally provides for full payment on secured claims with other distributions going in accordance with the priorities in bankruptcy law. The trial on how to divide proceeds among creditors in the U.S., Canada, and Europe commenced on Sept. 22, 2014. The question of how to divide $7.3 billion raised in the international bankruptcy of Nortel Networks Corp. was answered on May 12, 2015, by two judges, one in the U.S. and one in Canada. According to The Wall Street Journal, Justice Frank Newbould of the Ontario Superior Court of Justice in Toronto and Judge Kevin Gross of the U.S. Bankruptcy Court in Wilmington, Del., agreed on the outcome: a modified pro rata split of the money. NOVATION COMPANIES: Seeks to Hire Holland as Compliance Counsel --------------------------------------------------------------- Novation Companies, Inc., and its debtor-subsidiaries ask the Bankruptcy Court for authority to employ Holland & Knight LLP as Investment Company Act compliance counsel, nunc pro tunc to July 20, 2016. H&K will advise and assist the Debtors in compliance with respect to the Investment Company Act of 1940. H&K professionals most likely to devote material time to the representation of the Debtors and the current billing rates are: Paul W. Smith Partner $690 Justin Tait Associate $335 The Debtors have agreed to reimburse H&K for all actual out-of-pocket expenses incurred on its behalf. Paul Smith assures the Court that his firm has no connections with the creditors, any other party in interest, their respective attorneys and accountants, the United States Trustee or any person employed in the office of the United States Trustee. The firm can be reached at: Paul W. Smith HOLLAND & KNIGHT LLP 111 Congress Ave, Suite 540 Austin, TX 78701 Tel: (512) 472-1081 Fax: (512) 472-7473 E-mail: paul.smith@hlkaw.com About Novation Companies Headquartered in Kansas City, Missouri, Novation Companies, Inc. (otcqb:NOVC) -- http://www.novationcompanies.com/-- is in the process of implementing its strategy to acquire operating businesses or making other investments that generate taxable earnings. Prior to 2008, Novation originated, purchased, securitized, sold, invested in and serviced residential nonconforming mortgage loans and mortgage securities. At the height of its business, debtor NMI claims to have originated more than $11 billion annually in mortgage loans. After the Debtors ceased their lending operations and completed a sale of its servicing portfolio amidst the housing collapse in 2007, the Company has been engaged in the business of acquiring various businesses. The Debtors have five full time employees and one part time employee. On July 20, 2016, Novation Companies and certain of its subsidiaries filed voluntary petitions for chapter 11 business reorganization in Baltimore, Maryland (Bankr. D. Md. Lead Case No. 16-19745). In its petition, NCI lists assets of $33 million and liabilities of $91 million. As of the Petition Date, the Debtors have in excess of $32 million in cash, marketable securities and other current assets. The Debtors have hired the law firms of Shapiro Sher Guinot & Sandler, P.A. and Olshan Wolosky LLP as co-counsel. Orrick, Herrington & Sutcliffe LLP represents the Debtors as special litigation counsel. The cases are assigned to Judge David E. Rice. OLD TAMPA BAY SEAFOOD: Judge Wants Exit Plan by Oct. 31 ------------------------------------------------------- Bankruptcy Judge Catherine Peek McEwen in Tampa, Florida, directed Old Tampa Bay Seafood Company, LLC dba I.C. Sharks, to file a Plan and Disclosure Statement on or before Oct. 31, 2016. The Disclosure Statement shall, at the minimum, contain adequate information pertaining to the Debtor in the following areas: (a) Pre− and post−petition financial performance; (b) Reasons for filing Chapter 11; (c) Steps taken by the Debtor since filing of the petition to facilitate its reorganization; (d) Projections reflecting how the Plan will be feasibly consummated; (e) A liquidation analysis; and (f) A discussion of the Federal tax consequences as described in section 1125(a)(1) of the Bankruptcy Code. Pursuant to section 105(d)(2)(B)(vi) of the Bankruptcy Code, the hearing on the approval of the Disclosure Statement shall be consolidated with the hearing on the confirmation of the Plan. If the Debtor fails to file a Plan and Disclosure Statement by the Filing Deadline, the Court will issue an Order to Show Cause why the case should not be dismissed or converted to a Chapter 7 case pursuant to Section 1112(b)(1) of the Bankruptcy Code. About Old Tampa Bay Seafood Headquartered in Saint Petersburg, Florida, Old Tampa Bay Seafood Company, LLC, dba I.C. Sharks filed for Chapter 11 bankruptcy protection (Bankr. M.D. Fla. Case No. 16-04576) on May 26, 2016, estimating its assets at between $1 million and $10 million and liabilities at between $500,000 and $1 million. The petition was signed by Brian Storman, managing member. Jake C Blanchard, Esq., at Blanchard Law, P.A., represents the Debtor. No official committee of unsecured creditors has been appointed in the case. OLMOS EQUIPMENT: Approval of R. Osherow as Ch. 11 Examiner Sought ----------------------------------------------------------------- Judy A. Robbins, United States Trustee for Region 7, asks the United States Bankruptcy Court for the Western District of Texas to approve the appointment of Randolph N. Osherow as Chapter 11 Examiner for Olmos Equipment, Inc. Mr. Osherow assured the Court that he is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtors and their estates. The Troubled Company Reporter has reported that U.S. Bankruptcy Judge Craig A. Gargotta has entered an order directing the U.S. Trustee to appoint a Chapter 11 Examiner for the Debtor. The Chapter 11 Examiner is required to: (a) review the Debtor's Motion for Authority to Enter Into Subcontract with Xtreme Site Services, LLC, and to Lease Equipment, and file a written report with the Court as soon as practicable explaining: (i) whether the Examiner believes granting the motion would or would not be in the best interests of creditors and the estate; (ii) whether the proposed agreements should be modified; and, (iii) whether the Examiner believes there are better options to the estate for the completion of the pending jobs; (b) explain the basis for his recommendation and be available to testify at any hearing on the motion regarding the information set in the report; (c) review the Debtor's financial transactions during the case and file reports no less than every 30 days until a plan is confirmed, the case is converted to chapter 7, or the case is dismissed; (d) explain whether in post-petition the debtor is collecting all monies owed, allocating all monies properly, and paying its obligations as appropriate; (e) attach to each report statements on each job for which the debtor has received funds, showing how much was received and if any of the money has been paid specifically for that job, how much has been paid and to what entity; and, (f) include in his reports a statement detailing any information or findings which the Examiner believes the creditors and the Bankruptcy Court should be advised of including any fact ascertained during his investigation pertaining to fraud, dishonesty, incompetence, misconduct, mismanagement, or irregularity in the management of the affairs of the debtor. The Debtor is required to assure that the $20,000 paid to them is separately maintained to assure it is available for payment of the Examiner when the Examiner's fees and expenses are approved. About Olmos Equipment Olmos Equipment Inc. filed a chapter 11 petition (Bankr. W.D. Tex. Case No. 16-51834) on Aug. 12, 2016. The petition was signed by Larry Struthoff, president. The Debtor is represented by William B. Kingman, Esq., at the Law Offices of William B. Kingman, PC. The case is assigned to Judge Craig A. Gargotta. The Debtor estimated assets at $1 million to $10 million and liabilities at $10 million to $50 million at the time of the filing. PACIFIC DRILLING: Moody's Lowers CFR to Caa3; Outlook Negative -------------------------------------------------------------- Moody's Investors Service downgraded Pacific Drilling S.A.'s Corporate Family Rating to Caa3 from Caa2 and Probability of Default Rating (PDR) to Caa3-PD from Caa2-PD. Moody's also downgraded the company's senior secured term loan B and the 5.375% senior secured notes to Caa3 from Caa2 as well as Pacific Drilling V Ltd.'s (PDC5) 7.25% senior secured notes to Ca from Caa3. The Speculative Grade Liquidity (SGL) rating is affirmed at SGL-4 and the outlook remains negative. "PacDrilling's ratings downgrade reflects our extremely negative view of the offshore drilling sector with no near term signs of improvement. Depressed prices for the offshore drillships offers weak asset coverage for PacDrilling's overall debt. With no material signs of improving contract coverage or utilization for PacDrilling's drillships, cashflow through 2017 will be severely impacted resulting in an unsustainable capital structure" said Sreedhar Kona, Moody's Senior Analyst "Although the company has a significant cash balance, there is substantial risk of covenant breach in early 2017, a view reflected in our negative outlook" A complete list of rating actions is: Downgrades: Issuer: Pacific Drilling S.A. Corporate Family Rating, Downgraded to Caa3 from Caa2 Probability of Default Rating, Downgraded to Caa3-PD from Caa2-PD Senior Secured Term Loan B (Foreign Currency) due June 3, 2018, ($726 million USD outstanding), Downgraded to Caa3, LGD3 from aa2, LGD4 $750 million 5.375% Senior Secured Notes (Foreign Currency) due June 1, 2020, Downgraded to Caa3, LGD3 from Caa2, LGD4 Issuer: Pacific Drilling V Ltd. $500 million 7.25% Backed Senior Secured Notes (Foreign Currency) due December 1, 2017, ($439 million USD outstanding) Downgraded to Ca, LGD4 from Caa3, LGD4 Affirmations: Speculative Grade Liquidity Rating, Affirmed SGL-4 Outlook Actions: Issuer: Pacific Drilling S.A. Outlook, remains Negative Issuer: Pacific Drilling V Ltd. Outlook, remains Negative RATING RATIONALE The downgrade of the CFR to Caa3 is driven by the continued stress in the offshore market, and PacDrilling's increased re-contracting risk, projected increase in financial leverage resulting in an unsustainable capital structure and a heightened likelihood of default or restructuring. Contract coverage for the remainder of 2016 and full year 2017 remains extremely weak with only two of the seven drillships fully contracted through the second quarter of 2017 and only one drillship contracted thereafter. Although there is $371 million of cash on the balance sheet as of June 30, 2016, the company's credit metrics will deteriorate materially through 2017, and substantially increase the risk of covenant breach in early 2017. The ratings also considers the potential for open market purchases of rated debt as the instruments trade at steep discounts to face value. The $750 million 5.375% senior secured notes due 2020 and the term loan B due 2018 ($726 million outstanding as of June 30, 2016,) at PacDrilling are rated Caa3, in line with the CFR. The debt benefits from a first lien on four rigs, three of which are currently operating, as well as a security interest in the equity of its subsidiary that owns these four drillships. PacDrilling's equity interest in the other three drillships is structurally subordinated to about $1.3 billion of debt that is at the subsidiary level. The $500 million 7.25% senior secured notes due 2017 ($439 million outstanding) at Pacific Drilling V Ltd (PDC5) are rated Ca, one notch lower than the debt at PacDrilling to reflect its first lien against a single drillship as well as PacDrilling's unsecured guarantee that is subordinated to the senior secured creditors at PacDrilling. PacDrilling's SGL-4 rating indicates a weak liquidity profile through 2017. The company had a cash balance of $371 million as of June 30, 2016, and $215 million availability under its $500 million first out secured revolving credit facility maturing in June 2018. The availability under the credit facility could be constrained due to PacDrilling's risk of covenant breach. Capital expenditures, mainly to cover maintenance expenses on the idle and smart stacked fleet, are projected to be approximately $45 million through the end of 2017. Scheduled amortization on the senior secured credit facility and term loan B, and interest payments are expected to be approximately $380 million through the end of 2017. There are multiple financial maintenance covenants under PacDrilling's secured facilities, including the maintenance of maximum net debt to EBITDA ratio of 6.0x through 2017. Due to the weak cashflow outlook Moody's projects the company could potentially breach its net debt to EBITDA covenant in early 2017. Alternate liquidity is limited as the assets are secured by the credit facility and any drill ships sold would likely be at extremely distressed valuations. The negative outlook reflects the risk of potential covenant breach under its secured facilities and the possibility of material open market purchases of rated debt at steep discounts to face value. PacDrilling's ratings could be downgraded if the cash is consumed at a greater rate or if the liquidity deteriorates substantially. The ratings could also be downgraded if the company makes open market purchases at steep discounts to face value or performs a balance sheet restructuring. These issues would also apply to the rating of PDC5's debt as the lack of diversification at PDC5 translates into increased reliance on the unsecured guarantee from the parent. Ratings are unlikely to be upgraded in the near term but longer term, the ratings could be upgraded if PacDrilling improves its contract coverage to result in a debt to EBITDA ratio of 6.0x or less on a sustained basis with adequate liquidity. The principal methodology used in these ratings was Global Oilfield Services Industry Rating Methodology published in December 2014. Headquartered in Luxembourg, Pacific Drilling S.A., is a provider of ultra-deepwater drilling services to the oil and gas industry. PACIFIC EXPLORATION: Closing of Restructuring Expected Oct. 24 -------------------------------------------------------------- Pacific Exploration & Production Corporation on Oct. 11, 2016, provided an update with respect to its previously announced plan of compromise and arrangement ()Plan") pursuant to the Companies' Creditors Arrangement Act (Canada) in connection with its comprehensive restructuring transaction (the "Creditor/Catalyst Restructuring Transaction"). The Company disclosed that the Plan Sanction Order made by the Ontario Superior Court of Justice on Aug. 23, 2016 has been recognized by the United States Bankruptcy Court for the Southern District of New York and given full force and effect in the United States, by an order of the United States Bankruptcy Court made on Oct. 3, 2016. The Company also disclosed that all of the conditions precedent to completion of the Creditor/Catalyst Restructuring Transaction have been satisfied or are in a position to be satisfied, but for the release of a lien created by an order of the Colombian Superintendence of Corporations (the "Superintendence") made on June 10, 2016. The Company is in the process of making submissions to the Superintendence in respect of this lien and, as a result, the closing of the Creditor/Catalyst Restructuring is now expected to occur on or before October 24, 2016. "We have made significant progress since April in respect of the Creditor/Catalyst Transaction. At this stage, we are working cooperatively with the Superintendence to satisfy the remaining condition precedent and look forward to closing," commented Dennis Mills, Chair of the Independent Committee of the Board of Directors of the Company. The Company confirmed that the share or cash distributions under the Plan as set out in the Company's news release of September 26, 2016 remain unchanged. The Toronto Stock Exchange has conditionally approved the listing of the Company's common shares upon implementation of the Creditor/Catalyst Restructuring Transaction, which listing is subject to the satisfaction of customary listing conditions. About Pacific Exploration & Production Pacific Exploration & Production Corp. is a Canadian public company and a leading explorer and producer of natural gas and crude oil, with operations focused in Latin America. The Company has a diversified portfolio of assets with interests in more than 70 exploration and production blocks in various countries including Colombia, Peru, Guatemala, Brazil, Guyana and Belize. The Company's strategy is focused on sustainable growth in production & reserves and cash generation. In April 19, 2016 and April 20, 2016, the Company announced its entry into an agreement with: (i) The Catalyst Capital Group Inc., (ii) certain members of an ad hoc committee of holders of the Company's senior unsecured notes, and (iii) certain of the Company's lenders under its credit facilities, to effect a comprehensive financial restructuring (the "Restructuring Transaction") that will significantly reduce debt, improve liquidity, and best position the Company to navigate the current oil price environment. The restructuring will be implemented by way of a plan of arrangement pursuant to a court-supervised process in Canada, together with appropriate proceedings in Colombia under Law 1116 and in the United States. On April 27, 2016, Pacific Exploration, et al., applied for and received an order for protection pursuant to the Companies Creditors Arrangement Act ("CCAA"), R.S.C.1985, c.C-36 from the Ontario Superior Court of Justice Commercial List and PricewaterhouseCoopers Inc. was appointed as monitor of the Applicants (the "Monitor"). The Applicants filed recognition proceedings pursuant to Chapter 15 of title 11 of the United States Bankruptcy Code (the "U.S. Proceedings") and pursuant to Law 1116 of 2006 of the Republic of Colombia (the "Colombian Proceedings"). Pacific, et al., each filed a Chapter 15 bankruptcy petition (Bank. S.D.N.Y. Case Nos. 16-11189 to 16-11211) in New York, in the U.S. on April 29, 2016. The Company is being advised by Lazard Freres & Co. LLC, Norton Rose Fulbright Canada LLP (Canada), Proskauer Rose LLP (U.S.), Zolfo Cooper (U.S.), Garrigues (Colombia) and Kingsdale Shareholder Services (Canada). The Independent Committee is being advised by Osler, Hoskin & Harcourt LLP and UBS Securities Canada Inc. The Noteholders forming part of the funding creditors are being advised by Evercore Group L.L.C. (U.S.), Goodmans LLP (Canada), Paul, Weiss, Rifkind, Wharton & Garrison LLP (U.S.) and Cardenas y Cardenas Abogados (Colombia). FTI Consulting (U.S.), Davis Polk & Wardwell LLP (U.S.), Torys LLP (Canada) and Gomez-Pinzon Zuleta Abogados (Colombia) are counsel to the agent on the revolving credit facility of the Company, and Seward & Kissel is counsel to the agent on the HSBC Bank, USA, N.A. term loan of the Company. Catalyst is being advised by Brown Rudnick LLP (U.S.), McMillan LLP (Canada) and GMP Securities L.P. PAR TWO INVESTORS: Seeks to Hire Zalkin Revell as Legal Counsel --------------------------------------------------------------- Par Two Investors, Inc. seeks approval from the U.S. Bankruptcy Court for the Middle District of Georgia to hire Zalkin Revell, PLLC as its legal counsel. The firm will provide these services in connection with the Debtor's Chapter 11 case: (a) advise the Debtor regarding its powers and duties; (b) prepare legal papers and conduct examinations incidental to the administration of the Debtor's estate; (c) assist the Debtor in preparing its statement of financial affairs and schedules of assets and liabilities; and (d) pursue claims asserted by the Debtor. Kenneth Revell, Esq., the attorney designated to represent the Debtor, will be paid an hourly rate of $300. In a court filing, Mr. Revell disclosed that the firm does not hold or represent any interest adverse to the Debtor's estate. The firm can be reached through: Kenneth W. Revell, Esq. Zalkin Revell, PLLC 2410 Westgate Dr., Suite 100 Albany, GA 31707 Phone: (229) 435-1611 Fax: (866) 560-7111 Email: krevell@zalkinrevell.com About Par Two Investors Par Two Investors, Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M. D. Ga. Case No. 16-11120) on September 15, 2016. The petition was signed by George Shane Brinson, officer. At the time of the filing, the Debtor disclosed $1.01 million in assets and $1.34 million in liabilities. PEEK, AREN'T YOU CURIOUS: Unsecureds To Recover 22% Under Plan -------------------------------------------------------------- Peek, Aren't You Curious, Inc., filed with the U.S. Bankruptcy Court for the Northern District of California a first amended disclosure statement for the Debtor's Chapter 11 plan of liquidation dated Oct. 5, 2016. Under the Plan, holders of Class 2 General Unsecured Claims will recover 22%. Class 2 claims will share in pro rata distributions from available cash, after paying all unclassified claims, allowed secured claims, administrative claims, and priority claims in full. The Debtor has on hand funds totaling approximately $1.3 million to pay creditors. The Debtor does not believe that there will be sufficient funds to pay Class 2 unsecured non-priority claim holders in full, but rather, creditors in Class 2 will receive approximately 22% on account of their allowed claims. Class 2 claims total $3,014,510.34. As reported by the Troubled Company Reporter on Sept. 12, 2016, the Debtor first filed a disclosure statement explaining a Chapter 11 plan of liquidation that promised 23 cents on the dollar for unsecured creditors. After exhausting all avenues for obtaining a strategic investor or buyer, in mid-November 2015, Charlotte Russe expressed interest in acquiring several of Peek's retail locations and manufacturing assets. After a series of meetings and expedited due diligence, Charlotte Russe offered to purchase some of the Debtor's assets pursuant to an Agreement for Purchase and Sale of Assets dated Feb. 4, 2016. The First Amended Disclosure Statement is available at: http://bankrupt.com/misc/canb16-30146-211.pdf About Peek, Aren't You Curious Peek, Aren't You Curious, Inc., designed, manufactured and sold apparel, accessories, shoes, and gifts for girls, boys, and babies. Peek sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Cal. Case No. 16-30146) on Feb. 5, 2016. The petition was signed by Maria C. Canales, CEO. As of its bankruptcy filing, Peek sold high-end children's clothing through 21 retail stores in 10 states (one of which closed on Jan. 23, 2016), a wholesale relationship with Nordstrom department stores, and an Ecommerce platform. The bankruptcy case is assigned to Judge Hannah L. Blumenstiel. The Debtor tapped Nuti Hart LLP as its legal counsel; Gordon Brothers Retail Partners LLC as liquidation agent; DJM Realty Services LLC as real estate consultant; and Donlin, Recano & Company Inc. as claims and noticing agent. At the time of the filing, the Debtor estimated its assets and debt at $1 million to $10 million. PELICAN INLET: Taps Morris and Holmes Kurnik as Special Counsel --------------------------------------------------------------- Pelican Inlet Aqua Farms, Inc. seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to hire special counsel to pursue its claim against the Deepwater Horizon Oil Spill Trust. The Debtor proposes to hire Morris Law Firm, P.A. and Holmes Kurnik, P.A. to pursue its $110 million claim tied to the Deepwater Horizon oil spill that occurred in 2010 in the Gulf of Mexico. The Debtor will pay Morris and Holmes 5% of the gross amount recovered, to be split equally between the firms. They will also receive reimbursement for work-related expenses. Both sides have agreed that the total fee will not exceed $2 million, according to court filings. Morris and Holmes disclosed in court filings that they do not hold or represent interests adverse to the Debtor or its bankruptcy estate. Morris can be reached through: Scott Morris, Esq. Morris Law Firm, P.A. 514 SW 3rd Street Cape Coral, FL 33991 Tel: 239-772-1635 Email: Scott @ Morris Law Firm.org Holmes can be reached through: Ian Holmes Holmes Kurnik, P.A. 711 5th Avenue South, Suite 200 Naples, FL 34102 Tel: 239.228.7280 Email: iholmes@holmeskurnik.com About Pelican Inlet Aqua Farms Pelican Inlet Aqua Farms, Inc. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M. D. Fla. Case No. 15-07446) on July 20, 2015. The petition was signed by William Edwin Connery, president. At the time of the filing, the Debtor disclosed $4.3 million in assets and $3.7 million in liabilities. PIER 1 IMPORTS: Moody's Affirms B1 CFR; Outlook Stable ------------------------------------------------------ Moody's Investors Service affirmed Pier 1 Imports (U.S.), Inc.'s B1 Corporate Family Rating and B1-PD Probability of Default Rating, as well as the B1 rating on the company's $200 million senior secured term loan due 2021. The rating outlook was changed to stable from positive. Pier 1 is an indirect operating subsidiary of Pier 1 Imports, Inc. The outlook change reflects softer than anticipated operating performance over the LTM period and Moody's expectation that modest improvements to operating results over the next 12-24 months will be insufficient to bring credit metrics to a level that would support a higher rating. Over the LTM period ended Aug. 27, 2016, the company saw topline declines of over 3% and weakening EBITDA margins, resulting in credit metrics that were below the rating agency's initial expectation last year when the outlook was changed to positive. "We believe Pier 1 will benefit from investments made in its omni-channel operations over the last few years, but the costs associated with these initiatives were higher than initially anticipated and a meaningful improvement in revenue will be constrained by a challenging retail environment," said Moody's Analyst Dan Altieri. Moody's estimates lease adjusted leverage at around 4.3 times with interest coverage (EBIT/Interest Expense) at 1.3 times for the LTM period. While there are signs that operating performance could be stabilizing (particularly with regard to merchandise margin), Moody's expects top line will continue to be pressured by weak fundamentals in the retail sector, including weak traffic trends and a highly promotional environment. Moody's continues to believe EBITDA margins will improve over the next 12-24 months as a result of cost reduction initiatives, merchandise margin improvement, and greater efficiencies at Pier 1's distribution centers. However Moody's expects leverage to settle in the 4 times range with interest coverage in the mid-to-high 1 times range, which are more reflective of a B1 rating. Moody's took these rating actions: Issuer: Pier 1 Imports (U.S.), Inc. Corporate Family Rating, Affirmed at B1 Probability of Default Rating, Affirmed at B1-PD $200 million Senior Secured Term Loan due 2021, Affirmed at B1, LGD-4 Speculative Grade Liquidity Rating, Affirmed at SGL-2 Outlook, Changed to Stable RATINGS RATIONALE Pier 1's B1 CFR reflects the company's high lease adjusted leverage and modest interest coverage, its narrow product focus on home furnishings and décor, and the highly discretionary nature of its products that can drive significant revenue and earnings volatility through economic cycles. The rating also reflects Moody's expectation that operating performance will begin to stabilize resulting in credit metrics sustained near current levels. While Pier 1 is a credible competitor in a highly fragmented industry that includes department stores, furniture and decorative home furnishing stores, specialty retailers, mass merchandisers, discounters and e-commerce retailers, some of these competitors possess greater overall scale, product diversity, and financial resources than the company. The rating is supported by the company's well-known brand and geographic reach across North America, as well as its growing direct to consumer business which should help offset weak retail industry traffic trends. The rating also considers Pier 1's good liquidity profile. Pier 1's SGL-2 Speculative Grade Liquidity Rating is supported by balance sheet cash of approximately $38 million (as of August 27, 2016) and Moody's expectation for positive free cash flow over the next 12 -18 months that will be sufficient to cover basic cash needs. Nevertheless, required cash dividends, modest mandatory debt amortization of approximately $2 million per year, an excess cash flow sweep, and share repurchases will continue to utilize some of the cash generated over the period. Moody's expects the company's $350 million asset-based (ABL) revolving credit facility (unrated) expiring in June 2018 will remain largely undrawn except for letters of credit and modest borrowings of less than $75 million during peak working capital seasons. The term loan does not contain financial covenants, while the ABL contains a minimum availability test requiring availability of no less than the greater of 10% of the line cap or $20 million. Moody's expects Pier 1 to maintain ample cushion under this availability test. The B1 rating assigned to the company's $200 million senior secured term loan due 2021 reflects its first lien on substantially all of the company's assets, except cash, inventory and credit card receivables, on which it has a second lien behind the $350 million asset-based revolving credit facility. The term loan, which comprises the bulk of funded debt in the capital structure, also benefits from the sizeable amount of junior claims in the capital structure in the form of unsecured leases, payables, and pension liabilities, and is guaranteed by Pier 1's indirect parent company, Pier 1 Imports, Inc., and each of the parent's wholly-owned U.S. subsidiaries. The stable rating outlook reflects Moody's expectation that EBITDA margins will improve and top line declines will stabilize over the next 12-24 months. Moody's anticipates leverage will settle in the 4 times range with interest coverage in the mid- 1 times range, which are in line with the B1 rating. The outlook also anticipates the company will maintain its good liquidity and disciplined approach to shareholder returns. A ratings upgrade would require a reversal of ongoing revenue declines and margin compression, resulting in a return to profitable growth and consistent positive free cash flow generation. An upgrade would also require a demonstrated willingness and ability to sustain debt/EBITDA below 4.25 times with interest coverage (EBIT/Interest Expense) above 2.25 times. Ratings could be downgraded if the company is unable to stabilize negative topline trends or if EBITDA margins continue to worsen resulting in debt/EBITDA sustained above 5.25 times or interest coverage (EBIT/Interest Expense) sustained below 1.5 times. Ratings could also be downgraded if Pier 1's liquidity were to materially weaken or if financial policies were to become more aggressive. The principal methodology used in these ratings was Retail Industry published in October 2015. Pier 1 Imports (U.S.), Inc. is an indirect operating subsidiary of Pier 1 Imports, Inc., a specialty retailer of imported decorative home furnishings and gifts. The company operates through 1,023 stores throughout the U.S. and Canada, its Pier1.com e-commerce website, and licensing arrangements with 73 stores in Mexico and 1 in El Salvador. Annual revenue is just over $1.8 billion for the twelve months ending Aug. 27, 2016. PIONEER HEALTH: Seeks to Hire Horne as Consultant ------------------------------------------------- Pioneer Health Services, Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Mississippi to hire Horne LLP as its consultant. Horne will prepare, among other things, an analysis of historical physician compensation paid by the Debtor in comparison to published survey data. A copy of the document detailing the services to be provided by the firm and the estimated fees it will receive is available at http://bankrupt.com/misc/PioneerHealth_HorneDeal.pdf Gregory Anderson disclosed in a court filing that his firm does not represent interests adverse to the Debtor and its bankruptcy estate. Horne can be reached through: Gregory D. Anderson Horne LLP 101 Madison Plaza Hattiesburg, MS 39402 Phone: 601-268-1040 Fax: 601-264-4551 About Pioneer Health Services Pioneer Health Services, Inc., and its debtor-affiliates, including Medicomp Inc., filed separate Chapter 11 bankruptcy petitions (Bankr. S.D. Miss. Lead Case No. 16-01119) on March 30, 2016. Pioneer Health Services of Early County, LLC, filed a Chapter 11 case on April 8, 2016. The cases are administratively consolidated. The petitions were signed by Joseph S. McNulty III, president. The Debtors provide healthcare services to rural communities, and own and manage rural critical access hospitals. Judge Hon. Neil P. Olack presides over the Debtors' cases. The Law Offices of Craig M. Geno PLLC serves as the Debtors' counsel, Mintz Levin Cohn Ferris Glovsky and Popeo, P.C., to act as special counsel. Pioneer Health Services estimated $10 million to $50 million in both assets and liabilities. Henry Hobbs, Jr., acting U.S. trustee for Region 5, on April 19 appointed three creditors of Pioneer Health Services, Inc. to serve on the official committee of unsecured creditors. The committee hired Arnall Golden Gregory LLP as counsel, and GlassRatner Advisory & Capital Group LLC as financial advisor. PRODUCER'S LAND: U.S. Trustee Seeks for Ch. 11 Trustee Appointment ------------------------------------------------------------------ The United States Trustee, Judy A. Robbins, moves the United States Bankruptcy Court for the Southern District of West Virginia to direct the appointment of a Chapter 11 Trustee for Producer's Land, Inc. The Debtor is controlled and managed by Zachary B. Burkons, a Special Receiver appointed by Honorable Joanna Tabit through an Order dated August 16, 2016 in the Circuit Court of Kanawha County. When the Chapter 11 case was filed on August 31, 2016, the Special Receiver filed a Voluntary Petition that provided the following information: (a) that the Special Receiver did not expect funds available for distribution to unsecure creditors after administrative expenses are paid; (b) there are 1-49 creditors; (c) estimated assets were valued at $1,000,001-$10,000,000; and, (d) liabilities were estimated at $1,000,001-$10,000,000. The U.S. Trustee is concerned of the pending State Court criminal action against Mr. Burkons for the alleged assault on Dennis Johnson, the sole member of the debtor, that is scheduled for trial on October 20, 2016 in Boyd County, Kentucky. The U.S. Trustee believes that allowing Mr. Burkons to remain in charge of the management and control of the debtor would delay the administration of the case and be detrimental to and not in the best interest of creditors. The U.S. Trustee asserts that an independent Chapter 11 Trustee can assess the prospects for rehabilitation and can liquidate or otherwise administer estate assets and pursue estate causes of action in the interests of the creditors. About Producer's Land On May 18, 2016, the Circuit Court Judge entered an Order appointing a special receiver in certain of Deenis Ray Johnson's entities. A substitute special receiver, Zachary Burkons, was ultimately appointed on August 15, 2016. The successor special receiver filed Chapter 11 petitions for Appalachian Mining and Reclamation, LLC, Green Coal, LLC, Joint Venture Development, LLC, Producers Coal, Inc., Producers Land, LLC, and Redbud Dock, LLC. Producer's Land, Inc.'s bankruptcy case is Case No. 16-30401 (Bankr. S.D. W.Va.). Mr. Johnson is a businessman with ownership interests in at least 10 entities. He operates various rental real estate entities and coal associated operations. Mr. Johnson is a member of each of the following debtor companies -- Appalachian Mining and Reclamation, LLC, DJWV1, LLC, DJWV2, LLC, Elkview Reclamation and Processing, LLC, Green Coal, LLC, Joint Venture Development, LLC, Little Kentucky Elk, LLC, Moussie Processing, LLC, Producer's Coal, Inc., Producer's Land, LLC, Redbud Dock, LLC, Southern Marine Services, LLC, Southern Marine Terminal, LLC, and The Silo Golf Course, LLC -- and has filed a motion asking the Bankruptcy Court to jointly administer the bankruptcy cases. Mr. Johnson is also a guarantor of the debt for most of the companies. PRODUCER’S COAL: U.S. Trustee Seeks for Ch. 11 Trustee Appointment -------------------------------------------------------------------- The United States Trustee, Judy A. Robbins, moves the United States Bankruptcy Court for the Southern District of West Virginia to appoint a Chapter 11 Trustee for Producer's Coal, Inc.. The Debtor is controlled and managed by Zachary B. Burkons, a Special Receiver appointed by Honorable Joanna Tabit through an Order dated August 16, 2016 in the Circuit Court of Kanawha County. When this case was filed on August 31, 2016, the Special Receiver filed a Voluntary Petition that provided the following information: (a) that the Special Receiver did not expect funds available for distribution to unsecure creditors after administrative expenses are paid; (b) there are 100-199 creditors; (c) estimated assets were valued at $1,000,001-$10,000,000; and (d) liabilities were estimated at $10,000,000-$50,000,000. The U.S. Trustee concerns the pending State Court criminal action against Mr. Burkons for the alleged assault on Dennis Johnson, the sole member of the debtor, that is scheduled for trial on October 20, 2016 in Boyd County, Kentucky. The U.S. Trustee believes that allowing Mr. Burkons to remain in charge of the management and control of the debtor would delay the administration of the case and be detrimental to and not in the best interest of creditors. The U.S. Trustee noted that an independent Chapter 11 Trustee can assess the prospects for rehabilitation and can liquidate or otherwise administer estate assets and pursue estate causes of action in the interests of the creditors. About Producer's Coal On May 18, 2016, the Circuit Court Judge entered an Order appointing a special receiver in certain of Deenis Ray Johnson's entities. A substitute special receiver, Zachary Burkons, was ultimately appointed on August 15, 2016. The successor special receiver filed Chapter 11 petitions for Appalachian Mining and Reclamation, LLC, Green Coal, LLC, Joint Venture Development, LLC, Producers Coal, Inc., Producers Land, LLC, and Redbud Dock, LLC. Producer's Coal, Inc.'s bankruptcy case is Case No. 16-30402 (Bankr. S.D. W.Va.). Mr. Johnson is a businessman with ownership interests in at least 10 entities. He operates various rental real estate entities and coal associated operations. Mr. Johnson is a member of each of the following debtor companies -- Appalachian Mining and Reclamation, LLC, DJWV1, LLC, DJWV2, LLC, Elkview Reclamation and Processing, LLC, Green Coal, LLC, Joint Venture Development, LLC, Little Kentucky Elk, LLC, Moussie Processing, LLC, Producer's Coal, Inc., Producer's Land, LLC, Redbud Dock, LLC, Southern Marine Services, LLC, Southern Marine Terminal, LLC, and The Silo Golf Course, LLC -- and has filed a motion asking the Bankruptcy Court to jointly administer the bankruptcy cases. Mr. Johnson is also a guarantor of the debt for most of the companies. Q AND Q REALTY: Taps Robert L. Reda as Legal Counsel ---------------------------------------------------- Q and Q Realty LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to hire The Law Offices of Robert L. Reda, P.C. The firm will serve as the Debtor's legal counsel in connection with its Chapter 11 case. Reda will advise the Debtor regarding its duties and will assist in negotiating with creditors to formulate a plan of reorganization. The firm's attorneys and their hourly rates are: Robert Reda $325 Associates $275 Of Counsel $275 Meanwhile, the firm's paraprofessionals will be paid an hourly rate of $150. In a court filing, Mr. Reda disclosed that his firm is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Robert L. Reda, Esq. The Law Offices of Robert L. Reda, P.C. One Executive Boulevard Suffern, NY 10901 About Q and Q Realty Q and Q Realty LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 16-44044) on September 9, 2016. The petition was signed by Juan Galvan, managing member. The case is assigned to Judge Nancy Hershey Lord. At the time of the filing, the Debtor disclosed $4 million in assets and $2.16 million in liabilities. QUIKRETE HOLDINGS: S&P Affirms 'BB-' CCR; Outlook Stable -------------------------------------------------------- S&P Global Ratings said it affirmed its 'BB-' corporate credit rating on Atlanta-based building materials supplier Quikrete Holdings Inc. The outlook is stable. At the same time, S&P affirmed its 'BB-' issue-level rating on the company's senior secured term loan. The '3' recovery rating on the debt is unchanged, indicating S&P's expectation of meaningful (50%-70%; lower half of the range) recovery of principal and interest in the event of a payment default. "The stable outlook reflects our expectation that Quikrete will deliver steady growth in EBITDA over the next 12 months as residential repair and remodeling spending remains robust," said S&P Global Ratings credit analyst Ryan Gilmore. "As a result, we expect the company to maintain an FFO-to-debt ratio of more than 20% and an adjusted debt leverage metric in the 3x to 3.5x range over the next 12 months." S&P could lower its ratings on Quikrete if the company's credit measures weakened as a result of deterioration in operating performance during the next 12 months, specifically, if adjusted debt to EBITDA were to increase to above 5x. This could be due to reduced home improvement spending. S&P could also consider a negative rating action if the company adopted a much more aggressive financial policy, incurring debt to fund dividends or acquisitions. S&P could consider an upgrade if the company achieved improvement in credit measures, with adjusted debt to EBITDA of less than 3x and FFO to debt of more than 30% on a sustained basis. This could be spurred by a combination of stronger-than-expected economic growth or increased sales from new product lines. REDBUD DOCK: U.S. Trustee Seeks for Ch. 11 Trustee Appointment -------------------------------------------------------------- The United States Trustee, Judy A. Robbins, filed a motion asking the United States Bankruptcy Court for the Southern District of West Virginia to direct the appointment a Chapter 11 Trustee for Redbud Dock, LLC. The Debtor is controlled and managed by Zachary B. Burkons, a Special Receiver appointed by Honorable Joanna Tabit through an Order dated August 16, 2016 in the Circuit Court of Kanawha County. When the Chapter 11 case was filed on August 31, 2016, the Special Receiver filed a Voluntary Petition that provided the following information: (a) that the Special Receiver did not expect funds available for distribution to unsecure creditors after administrative expenses are paid; (b) there are 1-49 creditors; (c) estimated assets were valued at $1,000,001-$10,000,000; and, (d) liabilities were estimated at $1,000,001-$10,000,000. The U.S. Trustee says she is concerned of the pending State Court criminal action against Mr. Burkons for the alleged assault on Dennis Johnson, the sole member of the debtor, that is scheduled for trial on October 20, 2016, in Boyd County, Kentucky. The U.S. Trustee believes that allowing Mr. Burkons to remain in charge of the management and control of the debtor would delay the administration of the case and be detrimental to and not in the best interest of creditors. The U.S. Trustee asserts that an independent Chapter 11 Trustee can assess the prospects for rehabilitation and can liquidate or otherwise administer estate assets and pursue estate causes of action in the interests of the creditors. About Redbud Dock Redbud Dock, LLC filed a Chapter 11 Petition (Bankr. S.D. W.Va. Case No. 16-30398) on August 31, 2016, and is represented by Stephen L. Thompson, Esq., in Charleston, West Virginia. At the time of filing, the Debtor had $1M-$10M in estimated assets and $1M-$10M in estimated liabilities. The petitions were signed by Zachary B. Burkons, special receiver. A copy of Redbud Dock, LLC's list of 20 largest unsecured creditors is available for free at http://bankrupt.com/misc/wvsb16-30398.pdf Dennis Ray Johnson is a businessman with ownership interests in at least 10 entities. He operates various rental real estate entities and coal associated operations. Mr. Johnson is a member of each of the following debtor companies -- Appalachian Mining and Reclamation, LLC, DJWV1, LLC, DJWV2, LLC, Elkview Reclamation and Processing, LLC, Green Coal, LLC, Joint Venture Development, LLC, Little Kentucky Elk, LLC, Moussie Processing, LLC, Producer’s Coal, Inc., Producer’s Land, LLC, Redbud Dock, LLC, Southern Marine Services, LLC, Southern Marine Terminal, LLC, and The Silo Golf Course, LLC -- and has filed a motion asking the Bankruptcy Court to jointly administer the bankruptcy cases. Mr. Johnson is also a guarantor of the debt for most of the companies. REMODELING COMPANY: DOJ Watchdog Wants Case Converted to Ch. 7 -------------------------------------------------------------- Tracy Hope Davis, Acting United States Trustee for Region 17, asks the U.S. Bankruptcy Court for the Northern District of California to enter an order converting the Chapter 11 case filed by The Remodeling Company, to a case under Chapter 7 of the Bankruptcy Code, or, in the alternative, for an order dismissing the Chapter 11 case or appointing a Chapter 11 Trustee. The U.S. Trustee asserts that there exists a cause to convert the case to Chapter 7 or, in the alternative, to dismiss the case or appoint a Chapter 11 trustee, because the Debtor-in-Possession failed to attend two scheduled meetings of the creditors convened under 11 U.S.C. Sec. 341(a). In addition, the Debtor-in-Possession failed timely to provide information and to attend initial debtor interviews requested by the United States Trustee. In support of the motion, Jim J. Palmer, employed as a Bankruptcy Analyst and Auditor by the United States Department of Justice, Office of the United States Trustee, Las Vegas Nevada, tells the Court he received no communications from the Debtor-in-Possession or his counsel regarding their failure to appear at the initial debtor interviews, nor he have received any of the documents and information requested from the concerned parties. The Remodeling Company, Inc., filed a Chapter 11 petition (Bankr. N.D. Cal. Case No. 16-42231) on August 8, 2016, and is represented by Dennis Yan, Esq., at Law Office of Dennis Yan. RESOLUTE ENERGY: Closes Delaware Basin Acquisition for $135M ------------------------------------------------------------ Resolute Energy Corporation announced the closing of its acquisition of certain oil and gas properties located in the Delaware Basin in Reeves County, Texas for an aggregate purchase price of $135 million. The acquisition was financed in part with proceeds received from the previously announced private offering of shares of 8 1/8% Series B Cumulative Perpetual Convertible Preferred Stock of the Company, which also closed Oct. 7, 2016. The Company sold a total of 62,500 shares of the convertible preferred stock, which includes 7,500 shares issued in connection with the exercise by the initial purchaser of its over-allotment option. Total net proceeds from the sale of the convertible preferred stock, before offering expenses, was approximately $60 million. Additional information is available for free at: https://is.gd/t8OuUw About Resolute Energy Corporation Resolute Energy Corp. -- http://www.resoluteenergy.com/-- is an independent oil and gas company focused on the acquisition, exploration, exploitation and development of oil and gas properties, with a particular emphasis on liquids focused, long-lived onshore U.S. opportunities. Resolute's properties are located in the Paradox Basin in Utah and the Permian Basin in Texas and New Mexico. As of June 30, 2016, Resolute had $318 million in total assets, $639 million in total liabilities and a total stockholders' deficit of $322 million. Resolute reported a net loss of $742 million in 2015, a net loss of $21.9 million in 2014 and a net loss of $114 million in 2013. RESOLUTE ENERGY: Completes Fall Borrowing Base Redetermination -------------------------------------------------------------- Resolute Energy Corporation and the agent and lenders under its revolving credit facility completed the fall borrowing base redetermination process on Oct. 7, 2016. The Company's borrowing base was re-affirmed at $105 million. On Sept. 30, 2016, the Company and the agent and lenders under its Revolving Credit Facility entered into the thirteenth amendment to the facility to amend the restricted payment covenant to permit the Company to pay up to $5 million annually and $20 million in aggregate in dividends on preferred stock, in addition to the existing restricted payment basket that provided for other restricted payments of up to $5 million annually and $20 million in aggregate (which two baskets may be aggregated). In addition the Company made other administrative amendments to the Revolving Credit Facility. The "Revolving Credit Facility" is defined as the Second Amended and Restated Credit Agreement, dated as of March 30, 2010, among the Company (and certain of its subsidiaries as guarantors), Wells Fargo Bank, National Association, as administrative agent, and the lenders party thereto, as amended by the First Amendment to Second Amended and Restated Credit Agreement dated April 18, 2011, the Second Amendment to Second Amended and Restated Credit Agreement dated April 25, 2011, the Third Amendment to Second Amended and Restated Credit Agreement dated April 13, 2012, the Fourth Amendment to Second Amended and Restated Credit Agreement dated Dec. 7, 2012, the Fifth Amendment to Second Amended and Restated Credit Agreement dated Dec. 27, 2012, the Sixth Amendment to Second Amended and Restated Credit Agreement dated March 22, 2013, the Seventh Amendment to Second Amended and Restated Credit Agreement dated April 15, 2013, the Eighth Amendment to Second Amended and Restated Credit Agreement dated Dec. 13, 2013, the Ninth Amendment to Second Amended and Restated Credit Agreement dated March 7, 2014, the Tenth Amendment to Second Amended and Restated Credit Agreement dated March 14, 2014, the Eleventh Amendment to Second Amended and Restated Credit Agreement dated Dec. 30, 2014, and the Twelfth Amendment to Second Amended and Restated Credit Agreement dated April 15, 2015. About Resolute Energy Corporation Resolute Energy Corp. -- http://www.resoluteenergy.com/-- is an independent oil and gas company focused on the acquisition, exploration, exploitation and development of oil and gas properties, with a particular emphasis on liquids focused, long-lived onshore U.S. opportunities. Resolute's properties are located in the Paradox Basin in Utah and the Permian Basin in Texas and New Mexico. As of June 30, 2016, Resolute had $318 million in total assets, $639 million in total liabilities and a total stockholders' deficit of $322 million. Resolute reported a net loss of $742 million in 2015, a net loss of $21.9 million in 2014 and a net loss of $114 million in 2013. RITA RESTAURANT: Selling Beer Brewing System to Ager for $53K ------------------------------------------------------------- Rita Restaurant Corp., and affiliates ask the U.S. Bankruptcy Court for the Western District of Texas to authorize the sale of beer brewing system ("Beer Brewing System") at 3625 Jefferson Davis Highway, Alexandria, Virginia ("Premises") to Ager Tank & Equipment Co., Inc., for $53,000, subject to higher and better offers. The Debtors operate full service, casual dining restaurants, consisting of 16 Don Pablo's Mexican Kitchen restaurants ("Don Pablo's") and 1 Hops Grill and Brewery restaurant. The Debtors' restaurants are located in 10 states in the United States. Don Pablo's is a chain of Tex-Mex restaurants founded in Lubbock, Texas in 1985. The menu features Tex-Mex items, salsa, tortillas and sauces and a range of other Mexican specialties. At one time, the chain had as many as 120 location throughout the United States making it the second largest full service Mexican restaurant chain in the United States during the late 1990s. Hops is a casual dining restaurant that offers fresh, made from scratch menu items in a relaxed atmosphere featuring signature dishes that are created from high-quality, fresh ingredients, prepared in a display style kitchen that allows the customer to view the cooking process. In addition to the 3 Debtors, the Debtors have 9 non-debtor affiliates, comprised of (i) 4 special purpose entities that were created solely to hold certain liquor licenses utilized by the Debtors in their operations; (ii) 4 "shell" entities with no assets or liabilities and which do not conduct any operations; and (iii) 1 entity which solely distributed gift cards. The Debtor's business operations are, and have been since 2014 when Alamorita Restaurant Co., LLC acquire the stock of the Debtors, managed by FMP SA Management Group, LC pursuant to a management agreement. FMP, a privately held company based in Hollywood Park, Texas, is a multi-concept developer and operator of independent restaurant chains. In return for the services provided, FMP receives reimbursement of allocated costs and expenses and a management fee. A separate entity, FMP - Rita Payroll, LLC ("FMP Payroll"), provides employment and wage related services for the Debtors. The Debtors own no real property at this time. They lease the properties where restaurants are located. As of the Petition Date, the Debtors estimate that they have approximately $1,000,000 to $1,500,000 of unsecured trade debt and other outstanding operating expenses, including but not limited to rent, accrued management fees and general operating payables. In terms of numbers, only a handful of vendors have not been kept current and were not current at the the time of filing. A series of factors have contributed to the Debtor's operational challenges and ultimately resulted in the need to file the chapter 11 cases. In sum, the Debtors' have been unable to reverse the decade long decline brought on by prior management and ownership. Debtor Hops operated a restaurant located at the Premises, and own the Beer Brewing System located on the Premises. The Debtors own the Beer Brewing System free and clear of any liens, claims or encumbrances, except for taxes for the year in which closing of any sale of the Beer Brewing System occurs, which may or may not be currently due ("Taxes"). The Debtors propose to sell the Beer Brewing System to Ager for $53,0000 pursuant to the Purchase Agreement, subject to the Taxes, if any. A copy of the Purchase Agreement attached to the Motion is available for free at: http://bankrupt.com/misc/Rita_Restaurant_69_Sales.pdf The Debtors propose to sell the Beer Brewing System because of the expenses associated with using it, including, among other things, (i) rising costs of upkeep given the age of the system, and (ii) the need to hire and pay a brewer, which totals as much as $30,000 annually. The Debtors marked the Beer Brewing System for sale locally, and received offers between 40% and 60% of the purchase price. Accordingly, the Debtors believe the purchase price is a fair price and will benefit the bankruptcy estate and further the Debtors' reorganization efforts. The Debtors will entertain higher and better offers if received by counsel for the Debtors prior to the deadline to object the Motion. The Debtors requests that the Court waive the provisions of the F.R.B.P. 6004(h) staying the effectiveness of any Order granting the Motion, and provide that any Order granting the Motion be effective immediately upon entry thereof. Proposed Counsel for the Debtors: David W. Parham, Esq. John E. Mitchell, Esq. AKERMAN LLP 2001 Ross Avenue, Suite 2550 Dallas, TX 75201 Telephone: (214) 720-4300 Facsimile: (214) 981-9339 E-mail: david.parham@akerman.com john.mitchell@akerman.com About Rita Restaurant Rita Restauran Corp. and its affiliates, operate full service, casual dining restaurants, consisting of 16 Don Pablo's Mexican Kitchen restaurants ("Don Pablo's") and 1 Hops Grill and Brewery restaurant. The Debtors' restaurants are located in 10 states in the United States. Don Pablo's is a chain of Tex-Mex restaurants founded in Lubbock, Texas in 1985. The menu features Tex-Mex items, salsa, tortillas and sauces and a range of other Mexican specialties. At one time, the chain had as many as 120 location throughout the United States making it the second largest full service Mexican restaurant chain in the United States during the late 1990s. Hops is a casual dining restaurant that offers fresh, made from scratch menu items in a relaxed atmosphere featuring signature dishes that are created from high-quality, fresh ingredients, prepared in a display style kitchen that allows the customer to view the cooking process. In addition to the 3 Debtors, the Debtors have 9 non-debtor affiliates, comprised of (i) 4 special purpose entities that were created solely to hold certain liquor licenses utilized by the Debtors in their operations; (ii) 4 "shell" entities with no assets or liabilities and which do not conduct any operations; and (iii) 1 entity which solely distributed gift cards. The Debtor's business operations are, and have been since 2014 when Alamorita Restaurant Co., LLC acquire the stock of the Debtors, managed by FMP SA Management Group, LC pursuant to a management agreement. FMP, a privately held company based in Hollywood Park, Texas, is a multi-concept developer and operator of independent restaurant chains. In return for the services provided, FMP receives reimbursement of allocated costs and expenses and a management fee. A separate entity, FMP - Rita Payroll, LLC, provides employment and wage related services for the Debtors. Rita Restaurant Corp. sought Chapter 11 protection (Bankr. W.D. Tex. Case No. 16-52272) on Oct. 4, 2016. The case is assigned to Judge Ronald B. King. The Debtor estimated assets and liabilities in the range of $1 million to $10 million. The Debtor tapped John E. Mitchell, Esq. and David W. Parham, Esq. at Akerman LLP as counsel. The petitions were signed by Peter Donbavand, vice president. RYAN ROTH: Oct. 31 Hearing on Amended Plan of Reorganization Set ---------------------------------------------------------------- Judge Catherine J. Furay approved the Amended Disclosure Statement dated Sept. 13, 2016 filed by Ryan M. Roth and Stephanie S. Roth. The Debtor's filing of an Amended Disclosure Statement resolved objections by the U.S. Trustee. Judge Furay ordered that: -- The Debtors may continue to proceed to solicit acceptances and rejections of the Debtors' Amended Plan of Reorganization dated September 13, 2016 from their creditors in accordance with 11 U.S.C. Sec. 1125; -- The deadline to confirm the Debtors' Amended Plan of Reorganization dated Sept. 13, 2016, is extended to no later than Oct. 31, 2016 pursuant to 11 U.S.C. Section 1121(e)(3). -- The adjourned final hearing on the confirmation of the Amended Plan will be held at the United States Bankruptcy Court, 120 N. Henry Street, Courtroom 340, in the City of Madison, Wisconsin, 53703, on Oct. 31, 2016, at 10:00 a.m. -- Ballots for the acceptance or rejection of the Amended Plan will be sent to: Attorney Kristin J. Sederholm, Krekeler Strother, S.C., 2901 W. Beltline Hwy., Suite 301, Madison, Wisconsin 53713, and to Attorney Debra L. Schneider, Office of the United States Trustee, 780 Regent Street, Suite 304, Madison, Wisconsin, 53715, at least seven days prior to the adjourned final confirmation hearing on the Plan. -- Any written objections to the final confirmation of the Plan must be in writing and will be filed and served pursuant to Fed. R. Bankr. P. 3020(b)(1) at least seven days prior to the adjourned final confirmation hearing on the Plan of Reorganization at: U.S. Bankruptcy Court, 120 N. Henry Street, Courtroom 350, Madison, WI 53703. -- Copies of written objections or other responses to the Plan will also be sent to Attorney Kristin J. Sederholm, Krekeler Strother, S.C., 2901 W. Beltline Hwy., Suite 301, Madison, Wisconsin 53713, and to Attorney Debra L. Schneider, Office of the United States Trustee, 780 Regent Street, Suite 304, Madison, Wisconsin, 53715. As reported by the Troubled Company Reporter, the Roths filed with the U.S. Bankruptcy Court for the Western District of Wisconsin an amended disclosure Statement dated Sept. 13, 2016, describing the Debtors' Plan of Reorganization. Undisputed, non-priority unsecured claims, are in the approximate amount of $35,350. Claimants under this class will be paid with interest at the rate of 3.25% amortized over approximately 40 months resulting in the claimants sharing pro rata in monthly distributions of $1,000 starting on or before April 1, 2017. A copy of the Amended Disclosure Statement is available at: http://bankrupt.com/misc/wiwb16-12094-74.pdf Ryan M. Roth and Stephanie S. Roth filed for Chapter 11 bankruptcy protection (Bankr. W.D. Wis. Case No. 16-12094) on June 10, 2016. Ryan Anthony Blay, Esq., at Krekeler Strother, S.C., serves as the Debtor's bankruptcy counsel. SAAD INC: Proposes Norman Novinsky as Counsel --------------------------------------------- Saad, Inc., asks the Bankruptcy Court for authorization to employ Norman Novinsky, Esq., of Novinsky & Associates as counsel. The professional services that the attorney will render include: a. legal advice to the Debtor with respect to its power and duties with respect to the property of the estate; b. preparation of the necessary applications, answers, orders, reports and other legal papers including a plan of reorganization and disclosure statement; c. performance of all other legal services for the Debtor which may be necessary herein. Novinsky has been paid a retainer of $10,000 from the Debtor which includes the filing fee. Counsel will be compensation at the hourly rate of $375 per hour. Norman Novinsky assures the Court that his firm has no connections with the creditors, any other party in interest, their respective attorneys and accountants, the United States Trustee or any person employed in the office of the United States Trustee. The firm can be reached at: Norman Novinsky, Esq. NOVINSKY & ASSOCIATES 1350 Belmont St., Suite 105 Brockton, MA 02301 Tel: (508) 559-1616 E-mail: nnovinsky@msn.com About Saad, Inc. Saad, Inc., filed a chapter 11 petition (Bankr. D. Mass. Case No. 16-13691) on Sept. 27, 2016. The petition was signed by Yacoub G. Saad, president. The case is assigned to Judge Joan N. Feeney. The Debtor disclosed total assets at $1.26 million and total liabilities at $734,638. SABBATICAL INC: DOJ Watchdog Seeks Appointment of Ch. 11 Trustee ---------------------------------------------------------------- The United States Trustee, Judy A. Robbins, asks the United States Bankruptcy Court for the Southern District of West Virginia to direct the appointment of a Chapter 11 Trustee for Sabbatical, Inc. Dennis Ray Johnson filed a voluntary Chapter 11 petition for the Debtor on May 18, 2016. The only cases in which Schedules and a Statement of Financial Affairs have been filed are Mr. Johnson's individual case and The Silo Golf Course, LLC. The U.S. Trustee relates that despite its requests for schedules and a Statement of Financial Affairs, no schedules have been filed in the other cases. The U.S. Trustee asserts that the management's failure to file the schedules, Statements of Financial Affairs, banking information, monthly financial reports, and other information requested by parties in interest as required by the Bankruptcy Code and the bankruptcy rules, the administration of the cases has been thwarted such that creditors may be harmed without further remedy. The U.S. Trustee finds that any of the Debtor's failures would be grounds for a dismissal of the cases, but dismissal does not appear to be in the best interest of the parties. Instead, the appointment of a chapter 11 trustee is in the best interests of creditors, the U.S. Trustee asserts as a trustee can determine which cases have assets and which cases should be converted or dismissed. There are, according to the Debtor's secured creditor, potential causes of action that creditors may have against the management. Therefore the U.S. Trustee moved that an independent fiduciary is the only remedy for creditors in the cases. About Sabbatical Inc. Sabbatical, Inc. sought protection under Chapter 11 of the Bankruptcy Code in the Southern District of West Virginia (Huntington) (Case No. 16-30247) on May 18, 2016. The petition was signed by Dennis Johnson, president. The case is assigned to Judge Frank W. Volk. The Debtor estimated both assets and liabilities in the range of $1 million to $10 million. SAMUEL E. HERNANDEZ: Unsecureds to Get 60 Cents Per Dollar ---------------------------------------------------------- Samuel E. Hernandez and Iris J. Hernandez filed with the U.S. Bankruptcy Court for the District of Nevada a small business plan of reorganization and accompanying disclosure statement proposing to pay $5,000 to all unsecured creditors, which constitute a 61 cents per dollar dividend. The secured claim of Select Portfolio Servicing, Inc., will be paid $651.40 per month for 360 months, with 5.250% interest per annum. The secured claim of Bank of America, N.A., will be paid $280 per month for 360 months, with 5.250% interest per annum. The Debtors own a taco shop in Pahrump, Nevada. They also receive a monthly rental income from two investment properties in Nevada, which are not operated as an independent business entity. Payments and distributions under the Plan will be funded by the Investment Property rents and the Debtors' wage income as required. A full-text copy of the Disclosure Statement dated October 7, 2016, is available at http://bankrupt.com/misc/nvb15-16902-55.pdf Samuel E. Hernandez and Iris J. Hernandez filed a Chapter 11 petition (Bankr. D. Nev. Case No. 15-16902) on December 15, 2015. SECURED ASSETS: Seeks to Hire Davis Graham as Counsel ----------------------------------------------------- Secured Assets Belvedere Tower, LLC, asks the Bankruptcy Court for authorization to employ Cecilia Lee, Esq. and Elizabeth High, Esq. of the law firm of Davis Graham & Stubbs, LLP, as its bankruptcy counsel. Davis Graham will provide specific legal services to the Debtor in its role as counsel, including, but not limited to: a. Advise the Debtor with respect to its rights, powers, duties and obligations as it continues to operate its business and manage its properties as debtor-in- possession; b. Negotiate, prepare and file a plan or plans of reorganization and disclosure statements in connection with such plans, and otherwise promote the financial rehabilitation of the Debtor; c. Take all necessary action to protect and preserve the Debtor's estate, including the prosecution of any action on the Debtor's behalf, the defense of any actions commenced against the Debtor, negotiations concerning all litigation in which the Debtor is or will become involved, the evaluation and objection to claims filed against the estate; d. Prepare, on behalf of the Debtor, all necessary applications, motions, answers, orders, reports and papers in connection with the administration of the Debtor's estate, and appear on behalf of the Debtor at all Court hearings in connection with the Debtor's case; e. Render legal advice and perform general legal services in connection with the foregoing; and f. Perform any and all other legal services for the Debtor which may be incident and necessary to the administration of this case. The Debtor will compensate Ms. Lee and Ms. High on an hourly basis at the rates customarily charged by the attorneys and legal assistants who render professional services in the case: Cecilia Lee, Esq. $425 per hour Elizabeth High, Esq. $325 per hour Associate attorneys $225 - $280 per hour Legal Assistant $125 - $190 per hour Ms. Lee assures the Court that his firm has no connections with the creditors, any other party in interest, their respective attorneys and accountants, the United States Trustee or any person employed in the office of the United States Trustee. The firm can be reached at: Cecilia Lee, Esq. Elizabeth High, Esq. DAVIS GRAHAM & STUBBS, LLP 50 W. liberty Street, Suite 950 Reno, NV 89501 Tel: (775) 229-4219 Fax: (775) 403-2187 E-mail: cecilia.lee@dgslaw.com elizabeth.high@dgslaw.com About Secured Assets Belvedere Tower Reno, Nev.-based Secured Assets Belvedere Tower, LLC, filed a chapter 11 petition (Bankr. D. Nev. Case No. 16-51162) on Sept. 19, 2016. The petition was signed by Gregg Smith. The Debtor is represented by Elizabeth A. High, Esq., and Cecilia Lee, Esq., at Davis Graham & Stubbs LLP. The case is assigned to Judge Gregg W. Zive. The Debtor is a single asset real estate company. The Debtor disclosed total assets at $20.4 million and total liabilities at $18.5 million. SENSATA TECHNOLOGIES: S&P Affirms BB CCR; Outlook Revised to Pos. ----------------------------------------------------------------- S&P Global Ratings said that it revised its rating outlook on Sensata Technologies B.V. to positive from stable. At the same time, S&P affirmed its 'BB' corporate credit rating on the company. The 'BBB-' issue rating on the senior secured debt and '1' recovery rating remain unchanged, reflecting S&P's expectation for very high recovery (90%-100%) in the event of a payment default. The 'BB' issue rating on the senior unsecured notes and '4' recovery rating also remain unchanged, reflecting S&P's expectation of average recovery (lower end of the 30%-50% range) in the event of a default. The outlook revision reflects S&P's view that Sensata is making good progress on integrating large acquisitions from 2014-2015 and is focused on increasing margins and paying down debt. While Sensata's acquisitions of CST and Schrader made sense strategically, the acquisitions significantly increased leverage for Sensata. If the company continues to fulfill its stated commitment to reduce leverage closer to 3x by the end of 2017, there is a likelihood that S&P could upgrade the company in the next year. Sensata is a leading supplier of sensors in the $20 billion auto sensor market it serves, with 63% of its year-to-date 2016 revenue from the automotive market. In 2015, the company derived 41% of its revenue from the Americas, 26% from Asia, and 33% from Europe. Because of its design expertise, scale, and efficient cost structure, the company generates strong profits and cash flow. The company's global manufacturing footprint helps it maintain low-cost production and leading market positions. The company is the sole or primary source for most of its customers, and S&P believes that it is the lowest-cost producer, which supports its solid operating margins. Demand for Sensata's products is increasing at a faster rate than overall vehicle growth as the amount of sensor content on vehicles increases. S&P do not believe that the growth prospects for the controls portion of Sensata's business are as favorable, but this segment provides some diversification benefits to the company's credit profile and is very profitable. Overall organic growth the last two years has been quite low because of weakness in the industrial and heavy off-road vehicle segments, particularly class 8 trucks. S&P sees demand stabilizing in these segments and growing slowly. In S&P's base-case scenario, it expects Sensata's adjusted EBITDA margin to remain strong and strengthen slightly, between 25% and 27% the next couple years, and for revenue to increase by 2%-3% on an organic basis, benefitting from: -- A continued slow global economic recovery (S&P estimates U.S. GDP growth of about 1.5% in 2016 and 2.4% in 2017); -- Global light-vehicle production growth in the low-single- digit percent area, and our forecast of U.S. light-vehicle sales staying roughly flat in 2016; and -- Increase of content per vehicle from regulatory requirements and consumer demand for more sophisticated cars in emerging economies. S&P assess Sensata's liquidity as adequate, based on these expectations and assumptions: -- The company's liquidity sources, including cash and revolving credit facility availability, will likely be at least 1.2x of uses or more over the next 12 months; -- The company's net sources will likely remain positive (with some headroom) even if EBITDA declines by 15%; and -- The company has sound relationships with banks and a satisfactory standing in the credit markets. Sensata has minimal near-term debt maturities. As of June 30, 2016, the company had about $978 million outstanding under its term loan due in 2021. The company also has $500 million (4.875%) of senior unsecured notes due in 2023, $400 million (5.625%) of senior unsecured notes due in 2024, $700 million (5.0%) of senior unsecured notes due in 2025, and $750 million (6.25%) of senior unsecured notes due in 2026. Principal sources of liquidity: -- Availability of $290 million under its $420 million revolver as of June 30, 2016; -- Sizable cash balances of about $309 million as of June 30, 2016; and -- Annual funds from operations will exceed $600 million. Principal uses of liquidity: -- Very manageable capital expenditures of about $165 million annually; -- Opportunistic share repurchase and acquisition activity that S&P believes could be ratcheted back under a stress scenario; and -- Minimal near-term debt maturities. S&P revised its outlook to positive from stable, reflecting its view that the company's leverage will improve over the next year. S&P expects leverage will drop below 4x and its ratio of free operating cash flow to debt will stay above 10% in 2017. S&P could revise the outlook back to stable if Sensata pursues a more aggressive financial policy through debt-financed acquisitions or if operating performance deteriorates. In these scenarios S&P would expect debt to EBITDA to rise back above 4x and free operating cash flow to debt to fall below 10% on a sustained basis. S&P could raise the rating if debt to EBITDA were to approach 3x and free operating cash flow to debt were to be sustained comfortably above 10%. This could occur if margins continue to stay strong and the company pursues a less aggressive acquisition strategy. SERTA SIMMONS: Moody's Assigns B1 Rating on New $1.9BB Term Loan ---------------------------------------------------------------- Moody's Investors Service revised the ratings outlook for Serta Simmons Bedding, LLC to negative from stable due to the very high leverage resulting from the significant dividend recapitalization the company is pursuing. The B1 Corporate Family Rating is affirmed. Moody's also assigned a B1 rating to the company's new $1.9 billion 1st lien term loan and a B3 rating to a new $500 million 2nd lien term loan. Proceeds from the 1st and 2nd lien term loans, combined with over $50 million of cash on hand, will be used to repay about $1.8 billion of existing debt and pay a $670 million dividend. "The change in the outlook to negative reflects the increase in leverage to around 6.5 times pro forma from 5 times and a more aggressive financial policy than we were expecting," said Kevin Cassidy, Senior Credit Officer at Moody's Investors Service. Ratings assigned: $1.9 billion 1st lien secured term loan due 2023 at B1 (LGD3); $500 million 2nd lien secured term loan due 2024 at B3 (LGD6); Ratings affirmed: Corporate Family Rating at B1; Probability of Default Rating at B1-PD; Ratings affirmed, but will be withdrawn at close: $1.3 billion Senior Secured Term Loan B ($1.115 billion outstanding) due September 2019 at Ba3 (LGD3); $650 million Senior Unsecured Notes due September 2020 at B3 (LGD5) RATINGS RATIONALE Serta Simmons' B1 Corporate Family Rating (CFR) reflects its very high leverage at 6.5 times pro forma debt/EBITDA, and aggressive financial policies. It also reflects the company's good cash flow, its solid scale with revenue over $2.5 billion, and leading market share. Leverage will increase by more than a turn due to the October 2016 leveraged recapitalization. However, Moody's expects it to fall to around 6 times by the end of 2017 and approach 5 times in 2018 owing to a combination of higher earnings and debt repayments with internally generated cash. Serta Simmons has demonstrated its ability to steadily reduce leverage through debt repayment and earnings growth. Ratings benefit from Serta Simmons' solid EBIT margins at around 10%, interest coverage nearing 2 times and solid liquidity. Serta Simmons' well-known brand names, competitive strength, and the mattress industry's historically strong fundamentals, anchor the rating. The ratings are constrained by the volatility in profitability and cash flows experienced during economic downturns. The rating also reflects the uncertainty of its financial sponsor (Advent International) long term exits plans. The negative outlook reflects the uncertainty about Serta Simmons' ability to reduce debt/EBITDA to its stated target of under 5 times within a reasonable time frame. Ratings could be downgraded if operating performance weakens, or if leverage does not decline as expected. Ratings would likely be downgraded if Serta Simmons were to make another debt funded shareholder return. A significant drop in consumer confidence or any material disruption in the housing market could also lead to a downgrade. Key credit metrics which could prompt a downgrade include debt/EBITDA sustained around 5.5 times, EBIT to interest maintained around 1.5 times, or EBIT margins sustained in the mid-single digits. Ratings could be upgraded over the longer term if Serta Simmons'operating performance continues improving and leverage materially decreases for a sustained period. Serta Simmons'majority owner, Advent International, needs to make a commitment about its long term investment plans before an upgrade would be considered. Key credit metrics which could lead to an upgrade would be debt/EBITDA sustained around 3.5 times, mid teen digit EBIT margins, and EBIT to interest maintained above 3.5 times. The principal methodology used in this rating was "Consumer Durables Industry" published in September 2014. Serta Simmons Bedding LLC is the parent company of Serta International Holdco. LLC and Simmons Bedding Company, LLC. Both Serta and Simmons manufacture, distribute and sell mattresses, foundations, and other related and specialty bedding products. The company's brand names include, Serta, iSeries, Beautyrest, and Beautyrest Black. Revenue for the twelve months ended June 27, 2016, approximated $2.7 billion. Advent International is the majority owner of Serta Simmons. SHELBOURNE NORTH: Court Dismisses "Kellher" Suit ------------------------------------------------ Judge Carol A. Doyle of the United States Bankruptcy Court for the Northern District of Illinois, Eastern Division, dismissed the adversary proceeding captioned Garrett Kelleher, Plaintiff, v. National Asset Loan Management, Ltd. and Capita Asset Services (Ireland) Limited, Defendants, Adversary No. 15 A 00544 (Bankr. N.D. Ill.), for failure to state a claim. Garrett Kelleher filed the adversary proceeding against the National Asset Loan Management, Ltd., and Capita Asset Services (Ireland) Limited alleging that they are barred under provisions in Shelbourne North Water Street, L.P.'s confirmed chapter 11 plan from collecting on a personal loan made to Kelleher. Kelleher alleged that he is included in the definition of "Released Parties" under the plan and that the release and injunction provisions apply to his loan. The NALM Parties filed a motion to dismiss for lack of subject matter jurisdiction and personal jurisdiction, contending that the language of the relevant definitions, the release provision, and the injunction provision in the Shelbourne plan makes it clear that the Kelleher Loan does not fall within either the release or the injunction. Judge Doyle dismissed the complaint for failure to state a claim. The judge held that the release and injunction provisions in the Shelbourne plan do not apply to debts owed by Kelleher, who was not a debtor, to the NALM parties, who were not creditors of Shelbourne. Judge Doyle thus held that the Chapter 11 plan of Shelbourne did not affect Kelleher's personal liability to the NALM Parties. The bankruptcy case is In re: Shelbourne North Water Street L.P., Debtor, Case No. 13 B 44315 (Bankr. N.D. Ill.). A full-text copy of Judge Doyle's September 6, 2016 memorandum opinion is available at https://is.gd/Ls1EvZ from Leagle.com. Garrett Kelleher is represented by: Joseph D. Frank, Esq. Frances Gecker, Esq. Jeremy C. Kleinman, Esq. FRANKGECKER LLP 325 N. LaSalle St., Suite 625 Chicago, IL 60654 Tel: (312)276-1400 Fax: (312)276-0035 Email: jfrank@fgllp.com fgecker@fgllp.com jkleinman@fgllp.com -- and -- Catherine L. Steege, ESQ. JENNER & BLOCK LLP 353 N. Clark Street Chicago, IL 60654-3456 Tel: (312)222-9350 Fax: (312)527-0484 Email: csteege@jenner.com National Asset Loan Management, Ltd. is represented by: Travis J. Eliason, Esq. Faye B. Feinstein, Esq. QUARLES & BRADY LLP 300 N. LaSalle Street, Suite 4000 Chicago, IL 60654 Tel: (312)715-5000 Fax: (312)715-5155 Email: faye.feinstein@quarles.com About Shelbourne North Water Street A group of creditors filed an involuntary Chapter 11 petition against Chicago, Illinois-based Shelbourne North Water Street L.P. (Bankr. D. Del. Case No. 13-12652) on Oct. 10, 2013. The case is assigned to Judge Kevin J. Carey. The petitioners are represented by Zachary I Shapiro, Esq., and Russell C. Silberglied, Esq., at Richards, Layton & Finger, P.A., in Wilmington, Delaware. The Debtor consented on Nov. 8, 2013, to being in Chapter 11 reorganization. FrankGecker LLP represents the Debtor in its restructuring effort. SILO GOLF: DOJ Watchdog Seeks Appointment of Ch. 11 Trustee ----------------------------------------------------------- United States Trustee Judy A. Robbins asks the United States Bankruptcy Court for the Southern District of West Virginia to appoint a Chapter 11 Trustee for The Silo Gold Course, LLC, together with the other various rental real estate entities and coal associated operations owned by Dennis Ray Johnson. Mr. Johnson filed a voluntary Chapter 11 petition for the Debtor on August 12, 2016. The only cases in which Schedules of Assets and Liabilities and Statements of Financial Affairs have been filed are Mr. Johnson's individual case and that of the Debtor's. Despite the requests from the U.S. Trustee for Schedules and Statements, no schedules have been filed in the other cases. The U.S. Trustee asserts that there has been a failure of current management to file the Schedules, the Statements, banking information, monthly financial reports, and other information requested by parties in interest. Because of the failure to file the documents that are required by the Bankruptcy Code and the bankruptcy rules, the administration of the cases has been thwarted such that creditors may be harmed without further remedy, the U.S. Trustee further asserts. The U.S. Trustee adds that any of the Debtor's failures would be grounds for a dismissal of the cases. Dismissal, however, does not appear to be in the best interest of the parties, the U.S. Trustee says. The appointment of a chapter 11 trustee is in the best interests of creditors, the U.S. Trustee tells the Court. In the case, a trustee can determine which cases have assets and which cases should be converted or dismissed, the U.S. Trustee noted. There are potential causes of action that creditors may have against the management, the U.S. Trustee says. Therefore the U.S. Trustee moves that an independent fiduciary is the only remedy for creditors in the cases. The U.S. Trustee is represented by: Debra A. Wertman, Esq. OFFICE OF U.S. TRUSTEE United States Courthouse, Room 2025 300 Virginia Street East Charleston, WV 25301 Tel.: (304)347-3400 About Silo Golf Course The Silo Golf Course LLC, based in Lavalette, W. Va., filed a Chapter 11 bankruptcy petition (Bankr. S.D. W. Va. Case No. 16-30369) on August 12, 2016. The Hon. Frank W. Volk presides over the case. Elizabeth G. Kavitz, Esq., at Kavitz Law PLLC, as bankruptcy counsel. In its petition, the Debtor estimated $1 million to $10 million in both assets and liabilities. The petition was signed by Dennis Ray Johnson II, majority member. Mr. Johnson is a member of each of the following debtor companies -- Appalachian Mining and Reclamation, LLC, DJWV1, LLC, DJWV2, LLC, Elkview Reclamation and Processing, LLC, Green Coal, LLC, Joint Venture Development, LLC, Little Kentucky Elk, LLC, Moussie Processing, LLC, Producer's Coal, Inc., Producer's Land, LLC, Redbud Dock, LLC, Southern Marine Services, LLC, Southern Marine Terminal, LLC, and The Silo Golf Course, LLC -- and has filed a motion asking the Bankruptcy Court to jointly administer the bankruptcy cases. Mr. Johnson is also a guarantor of the debt for most of the companies. SMILES AND GIGGLES: Taps Hernando Property as Property Manager -------------------------------------------------------------- Smiles and Giggles Health Plaza, LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to hire Hernando Property Management. The firm will manage the shopping center owned by the Debtor located at 17020 County Line Road, Spring Hill, Florida. As payment for its services, Hernando Property will receive a monthly management fee of 10% of gross monthly rents, and various other fees. A copy of the firm's agreement with the Debtor is available for free at https://is.gd/otIau1 Hernando Property maintains an office at: Hernando Property Management 13206 Spring Hill Drive Spring Hill, FL 34609 About Smiles and Giggles Smiles and Giggles Health Plaza, LLC, filed a chapter 11 petition (Bankr. M.D. Fla. Case No. 16-08203) on Sept. 23, 2016. The Debtor is represented by David W. Steen, Esq., at David W. Steen, P.A. SMITH MOVERS: Unsecureds to Recoup 5% Under Ch. 11 Plan ------------------------------------------------------- Smith Movers Inc. filed a second amended disclosure statement proposing to pay holders of Class 3 General Unsecured Claims 5% of their claims without interest for a total distribution of $29,666. Distribution to Class 3 will be made on the claims over a 72-month period in aggregate monthly payments of approximately $412.03. Class 3 Claims total $593,326.27. The Allowed Secured Claim of the Department of Treasury's Internal Revenue Service, which totals $22,617.47, will be paid in full, plus interest at 5% over a period of 36 months, in monthly payments amount of $659.57, unless the IRS agrees to a different treatment. The Allowed Secured Claim of the Illinois Department of Revenue, which total $2,992.40, will be paid in full, plus 5% interest, over a period of 36 months, in monthly payments amount of $87.27. The allowed priority tax claim of the IRS, which total $128,185.18, will be paid in full at 5% interest over a period of 72 months in monthly payments amount of $1,928.79. The allowed priority claim of the Illinois Department of Employment Security, which total $9,831.13, will be paid in full with 5% interest over a period of 72 months in monthly payment amount of $143.33. The allowed priority claim of the IDOR, which total $4,074.90, will be paid in full at 5% interest over 72 months in monthly payment amount of $59.42. The Plan will be funded from the Debtor's available cash, which will be vested in the Reorganizaed Debtor as of the effective date. A full-text copy of the Second Amended Disclosure Statement dated October 6, 2016, is available at: http://bankrupt.com/misc/ilnb15-35798-40.pdf Smith Movers Inc. filed a Chapter 11 petition (Bankr. N.D. Ill. Case No. 15-35798) on October 21, 2015, and is represented by William E. Jamison, Jr., Esq., at William E. Jamison Jr. & Associates. Smith Movers is engaged in the general commercial and residential moving business. SPD LLC: Voluntary Chapter 11 Case Summary ------------------------------------------ Debtor: SPD, LLC 4408 N. Rockwook, #257 Peoria, IL 61615-3765 Case No.: 16-81454 Chapter 11 Petition Date: October 11, 2016 Court: United States Bankruptcy Court Central District of Illinois (Peoria) Judge: Hon. Thomas L. Perkins Debtor's Counsel: Karen J Porter, Esq. PORTER LAW NETWORK 230 West Monroe, Suite 240 Chicago, IL 60606 Tel: 312-372-4400 Fax: 312-372-4160 E-mail: porterlawnetwork@gmail.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Fulton L. Bouldin, manager and sole member. The Debtor did not include a list of its largest unsecured creditors when it filed the petition. SUSAN RENE CRADDOCK WASHABAUGH: Bid for Leave to Appeal Denied -------------------------------------------------------------- In the case captioned SUSAN RENE CRADDOCK WASHABAUGH, Debtor/Appellant, v. WILLIAM P. MILLER, Appellee, No. 1:16CV694 (M.D.N.C.), Judge William L. Osteen of the United States District Court for the Middle District of North Carolina denied the Debtor's Motion for Leave to Appeal, holding that the Debtor has failed to show that this court should grant her motion. The Debtor moved for dismissal on the pleadings, alleging that the Bankruptcy Administrator had no standing to seek a revocation of discharge, and the Bankruptcy Court denied her motion. The Debtor then filed the instant motion, seeking leave to appeal the Bankruptcy Court's ruling. Judge Osteen held that resolution of this issue will not materially advance the litigation. Judge Osteen acknowledged that while the Debtor is correct that a ruling in her favor would end the litigation entirely, that fact alone is unpersuasive. It is not a particular result which must materially advance the litigation, but the resolution of the disputed question as a whole, the judge pointed out. Resolution of this issue, concerning a motion for judgment on the pleadings, will not do so, and the final factor is thus not present in this case, the judge ruled. A full-text copy of the Memorandum Opinion and Order dated September 1, 2016 is available at https://is.gd/19tvFW from Leagle.com. SUSAN RENE CRADDOCK WASHABAUGH, Debtor, is represented by JOHN F. BLOSS, Sr., Esq. -- HIGGINS BENJAMIN, PLLC. SUSAN RENE CRADDOCK WASHABAUGH, Appellant, is represented by JOHN F. BLOSS, Sr., HIGGINS BENJAMIN, PLLC. WILLIAM P. MILLER, Appellee, is represented by ROBERT E. PRICE, Jr., U. S. BANKRUPTCY COURT. SYCAMORE INVESTMENT: Plan Confirmation Hearing on Nov. 17 --------------------------------------------------------- Sycamore Investment Group-Olympiad, LLC, filed with the Bankruptcy Court in Miami, Fla., a First Amended Disclosure Statement and First Amended Plan of Reorganization wherein it proposes to pay Class 5 Allowed Unsecured Claims in full by payment of quarterly Distributions in an amount equal to $10,000 to be made by the Reorganized Debtor on a pro rata basis, with the initial Distribution to be made 30 days after the Effective Date and continuing each quarter thereafter until Holders of Allowed Unsecured Claims are paid 100% of the amount of their Allowed Unsecured Claim, without interest. No Distribution will be made to holders of Allowed Unsecured Claims in this Class 5 unless and until all Allowed Administrative Claims and Allowed Priority Claims have been paid in full, reserved or otherwise resolved, and/or included in or accounted for in the Distribution at issue. The Debtor estimates that the aggregate Allowed Class 5 Unsecured Claims will total approximately $50,000. The recovery percentage for Allowed Class 5 Unsecured Claims under the Plan is proposed to be 100% of each Holder's Allowed Unsecured Claim. However, Unsecured Claims remain subject to (i) objections to be filed by the Debtor or the Reorganized Debtor, as the case may be, by the deadline to be set by the Bankruptcy Court, (ii) set off rights in respect of certain of such Unsecured Claims, and (iii) potential avoidance actions and other Litigation Claims being investigated by the Debtor or the Reorganized Debtor. While the Debtor may have sufficient Available Cash on the Effective Date to pay Holders of Allowed Unsecured Claims in full, the feasibility of the Debtor's Plan is stronger if the Debtor maintains a cash cushion to assist with debt service, capital costs and/or necessary repairs or improvements, as may be required. The Debtor believes that payment of Allowed Unsecured Claims over a brief period of time is in the best interest of the Debtor, the Debtor's Estates and its creditors. Pursuant to Section 1128 of the Bankruptcy Code and Rule 3017(c) of the Federal Rules of Bankruptcy Procedure, the Bankruptcy Court has scheduled an evidentiary hearing to consider confirmation of the Plan to begin on Nov. 17, 2016 at 10:30 a.m. (prevailing Eastern Time) before the Honorable A. Jay Cristol. The Confirmation Hearing may be adjourned from time to time by the Bankruptcy Court without further notice except for the announcement of the adjournment date made at the Confirmation Hearing or at any subsequent adjourned Confirmation Hearing. The Bankruptcy Court has directed that objections, if any, to confirmation of the Plan be filed with the Clerk of the Bankruptcy Court and served so that they are ACTUALLY RECEIVED on or before Nov. 3, 2016 (prevailing Eastern Time) on: (i) Heather L. Harmon, Esq. Genovese Joblove & Battista, P.A. 100 S.E. Second Street, 44th Floor Miami, FL 33131 E-mail: hharmon@gjblaw.com (ii) counsel for Fannie Mae, which hold claims pursuant to pre-bankruptcy mortgage loans: Matthew M. Cahill, Esq. Baker Donelson 420 North 20th Street 1400 Wells Fargo Tower Birmingham, AL 35203 E-mail: mcahill@bakerdonelson.com (iii) Johanna Armengol, Esq. Office of the U.S. Trustee U.S. Trustee's Office 51 S.W. First Avenue, Suite 1204 Miami, FL 33130 E-mail: Johanna.Armengol@usdoj.gov A copy of the Amended Disclosure Statement is available at: http://bankrupt.com/misc/flsb16-11720-0067.pdf About Sycamore Investment Group-Olympiad, LLC Sycamore Investment Group-Olympiad, LLC, filed a chapter 11 petition (Bankr. S.D. Fla. Case No. 16-11720) on Feb. 5, 2016. The petition was signed by Peter S. Pessoa, authorized officer. The Debtor is represented by Paul J. Battista, Esq., at Genovese Joblove & Battista, P.A. The case is assigned to Judge Jay A. Cristol. The Debtor estimated both assets and liabilities in the range of $1 million to $10 million. Sycamore Investment Group-Olympiad, LLC is the fee simple owner of a rental apartment building located at 155 Sylvest Drive, Montgomery, Alabama called "Magnolia Trace". The Property consists of a total of 176 rental units which generate $95,000 in monthly rents based on the current occupancy rate of the Property, which is approximately 90%. The Debtor also has certain other income and utility income in the approximate amount of $10,000.00 per month. The Debtor estimates that the value of the Property, including personal property located thereon, is approximately $9,936,701. On Feb. 22, 2016, Fannie Mae filed a Motion to Transfer Venue of this Chapter 11 Case to the Middle District of Alabama. The Motion to Transfer Venue was subsequently withdrawn on July 22, 2016. Fannie Mae is represented by lawyers at Baker Donelson. SYCAMORE INVESTMENT: Seeks 10-Day Extension of Solicitation ----------------------------------------------------------- Sycamore Investment Group-Olympiad, LLC, asked the Bankruptcy Court in Miami, Florida, to extend the exclusive period within which the Debtor may solicit acceptances to its Plan for an additional 10 days, through Oct. 13, 2016. The Debtor earlier sought a two-day extension of exclusivity. The Debtor related that on Sept. 14, 2016, the Court held a hearing on its proposed First Amended Disclosure Statement and set a Confirmation Hearing for Nov. 17, 2016. Oct. 3, 2016 was previously set as the deadline to solicit acceptances of the Plan. The Debtor previously filed a motion seeking two additional days to finalize the documents and send to the copy service for processing and mailing. Due to the Court's closure for Hurricane Matthew on Oct. 6 and 7, and the uncertainty surrounding damage or power outages, in addition to the Court's closure for Columbus Day on Oct. 10 and observance of the Yom Kippur holiday on Oct. 12, the Debtor seeks a 10-day extension from its original Oct. 3 deadline so that it may obtain a signed copy of the order approving the Disclosure Statement and mail to creditors. The Debtor hopes to mail the document sooner. The Debtor's bank lender and US Trustee have already received a copy of the Plan and Disclosure Statement via CM/ECF. The Debtor said it intends to proceed to confirmation without delay, and expects a hearing on confirmation of the Plan to be held on Nov. 17. Margaret E Kepler -- mkepler@bakerdonelson.com tgoff@bakerdonelson.com -- and Andrea R Meenach-Decker -- RDecker@bakerdonelson.com -- represent creditor Fannie Mae. About Sycamore Investment Group-Olympiad Sycamore Investment Group-Olympiad, LLC, filed a chapter 11 petition (Bankr. S.D. Fla. Case No. 16-11720) on Feb. 5, 2016. The petition was signed by Peter S. Pessoa, authorized officer. The Debtor is represented by Paul J. Battista, Esq., at Genovese Joblove & Battista, P.A. The case is assigned to Judge Jay A. Cristol. The Debtor estimated both assets and liabilities in the range of $1 million to $10 million. Sycamore Investment Group-Olympiad, LLC is the fee simple owner of a rental apartment building located at 155 Sylvest Drive, Montgomery, Alabama called "Magnolia Trace". The Property consists of a total of 176 rental units which generate $95,000 in monthly rents based on the current occupancy rate of the Property, which is approximately 90%. The Debtor also has certain other income and utility income in the approximate amount of $10,000.00 per month. The Debtor estimates that the value of the Property, including personal property located thereon, is approximately $9,936,701. On February 22, 2016, Fannie Mae filed a Motion to Transfer Venue of this Chapter 11 Case to the Middle District of Alabama. The Motion to Transfer Venue was subsequently withdrawn on July 22, 2016. Fannie Mae is represented by lawyers at Baker Donelson. TCR III INC: Provides Adequate Care to Residents, PCO Says ---------------------------------------------------------- Arthur E. Peabody, Jr., as the Patient Care Ombudsman for TCR III, Inc., et al., has filed a report on October 7, 2016, with the United States Bankruptcy Court for the Eastern District of Virginia. According to the report, two facilities were reviewed, i.e., assisted living facilities operated by TCR IV, Inc., (Orange) and TCR V, Inc., (Stephens City), located respectively in Orange and Stephens City, Virginia. The PCO concluded that both facilities commonly called as, Amerisist of Orange and Amerisist of Stephens City, had a system of care in place that was affording adequate care to residents and protecting them from undue risks to their personal safety. The PCO noted that both facilities rely largely on community resources for medical care. There were no material changes in the manner in which access to medical care is obtained to meet the medical care needs of residents. Overall, services in both facilities remain adequate. Moreover, the PCO reported that there is no evidence that appropriate professional judgment was not exercised in the aspect of hospitalizations of residents in both facilities. Since the June 2016 visit, 16 residents have been hospitalized in the Amerisist of Orange and 1 resident from the Amerisist of Stephens City. In both facilities, PCO noted that there is no evidence indicative of a lack of timely attention or inadequate care that would have contributed to a resident's deteriorating condition or any subsequent need for rehospitalization. TCR III, Inc. (f/k/a America House One, Inc.) (the "Manassas" location); TCR IV, Inc. (f/k/a America House Two, Inc.) (the "Orange" location); TCR V, Inc. (f/k/a America House Three, Inc.) (the "Stephens City" location); TCR VI, Inc.; and America House Assisted Living of Front Royal, L.L.C. (the "Front Royal" location), filed separate Chapter 11 bankruptcy petitions (Bankr. E.D. Va. Case Nos. 15-14162, 15-14163, 15-14165, 15-14168 and 15-14169) on November 24, 2015. The Debtors operate senior care facilities. The Hon. Brian F. Kenney presides over the cases. Lawyers at Sands Anderson PC, serve as counsel to the Debtors. TCR III estimated $1 million to $10 million in both assets and liabilities. The petitions were signed by Charles V. Rice, president. TECHPRECISION CORP: Obtains $366K Loan from People's Capital ------------------------------------------------------------ TechPrecision Corporation and its wholly owned subsidiary Ranor, Inc., became committed to Schedule No. 002 to the Master Loan and Security Agreement, dated March 31, 2016, between People's Capital and Leasing Corp., as lender, and Ranor. Pursuant to Schedule 2, the Lender made an additional loan in the amount of $365,852 to Ranor upon the terms and conditions set forth in the Loan Agreement and Schedule 2. Ranor will repay the Loan in monthly installments of principal and interest over 60 months. The Loan is guaranteed by the Company pursuant to the original Corporate Guaranty from the Company in favor of the Lender dated March 31, 2016. The Loan is secured by a security interest in certain machinery and equipment of Ranor as provided in Schedule 2. About TechPrecision TechPrecision Corporation (OTC BB: TPCSE), through its wholly owned subsidiaries, Ranor, Inc., and Wuxi Critical Mechanical Components Co., Ltd., globally manufactures large-scale, metal fabricated and machined precision components and equipment. TechPrecision reported net income of $1.35 million on $16.9 million of net sales for the year ended March 31, 2016, compared to a net loss of $3.58 million on $18.2 million of net sales for the year ended March 31, 2015. As of June 30, 2016, Techprecision had $12.0 million in total assets, $9.81 million in total liabilities and $2.18 million in total stockholders' equity. TERRILL MANUFACTURING: Wants Interim Use of $705K Cash Collateral ----------------------------------------------------------------- Terrill Manufacturing Co., Inc., asks the U.S. Bankruptcy Court for the Northern District of Texas for authorization to use cash collateral on an interim basis. The Debtor is indebted to First Financial Bank of San Angelo in the principal amount of $940,000, along with interest and fees. The Debtor relates that on Sept. 19, 2016, the Bank seized money in all the Debtor's operating accounts disrupting its business operations and preventing it from paying expenses as they come due. The Debtor further relates that largely due to the onerous burdens created by the seizure of operating cash out of Debtor's accounts, the Debtor has become insolvent and unable to meet its debts as they come due. The Debtor tells the Court that it must begin making use of the Cash Collateral immediately, to make postpetition payments to employees, suppliers, utilities, repair or janitorial services in order to continue to operate its business. The Debtor further tells the Court that it seeks to use approximately $705,239 to pay postpetition obligations which are or will be due for the end of the month of September 2016 and for the month of October 2016, before a final hearing may be held. The Debtor's proposed Budget provides for total monthly expenses in the amount of $644,758. A full-text copy of the Debtor's Motion, dated Oct. 10, 2016, is available at http://bankrupt.com/misc/TerrillManufacturing2016_1660105rlj11_50.pdf A full-text copy of the Debtor's proposed Budget, dated Oct. 10, 2016, is available at http://bankrupt.com/misc/TerrillManufacturing2016_1660105rlj11_50_2.pdf About Terrill Manufacturing Co. Formed in 1948, Terrill Manufacturing Co., Inc., owns real property located in San Angelo, Texas and designs, manufactures, and installs custom woodwork and other finishing pieces for inside of commercial buildings. Terrill Manufacturing filed a chapter 11 petition (Bankr. W.D. Tex. Case No. 16-52127) on Sept. 20, 2016. The petition was signed by Gary Rushin, President/CEO. The Debtor is represented by Reedy M. Spigner, Esq., at West & Associates, LLP. The Debtor estimated assets and liabilities at $0 to $50,000. TIMOTHY O'BRION: Plan Intends to Pay Unsecureds $10K in 72 Months ----------------------------------------------------------------- Timothy O'Brion McNamara delivered to the U.S. Bankruptcy Court for the Northern District of Texas a disclosure statement describing his Chapter 11 Plan of Reorganization. The Debtor's plan provides that Class 1, Class 2, Class 3, Class 4, Class 6, and Class 6(a) will be paid 100%. These Claims would not be paid as much upon liquidation as they are provided to be paid under McNamara's Plan. Upon liquidation, Class 2, Class 5, Class 6(a), Class 7, Class 8 and Class 9 would be unlikely to be paid anything, and Class 3 would receive diminished return on its collateral as compared to its HAMP Modified note under the Plan. Specifically, the Debtor's plan provides that: * Class 1: $20,000 in attorney's fees and U.S. Trustee's fees will be paid in full; * Class 2: IRS priority claim of $74,669 will paid through the Plan at 3% interest over 72 months at $1,132 per month, until Claim is paid in full; * Class 3: Allowed claim per HAMP Modification of home note between McNamara and Chase (Wilmington Trust, N.A.); to begin monthly payment at $3,271 upon Confirmation of Plan. * Class 4: Dallas County will be paid at $516 per month for 72 months, on $26,648 claim at 12% per annum interest; * Class 5: $0. IRS secured claim; payments to be provided under Class 9; * Class 6: Allowed Secured Claims of VW/Audi at $6,159 and Preston Trail HOA(current assessments) to be paid direct, as budgeted expense; * Class 6(a): Prestonwood Trail HOA arrears of $7,041 to be paid at 5% at $308 per month for 24 months. * Class 7: Comerica Bank -- disallowed secured claim; with Allowed claim at $10,000 to be paid without interest thereon, at $417 per month for 24 months; * Class 8: General Unsecured Claims of seven creditors to be paid, pro rata, on allowed claims from total payment amount to this class of $10,000 paid out over 72 months at $139 per month, without interest. * Class 9: Allowed IRS Unsecured Deficiency claim of $339,554 to be paid a total of $10,000, without interest, over 72 months at $139 per month. The Debtor will have monthly plan payments totaling $2,700 which amount decreases after 24 months to $1,925 per month. The Debtor's performance and financials show this is possible based on his projections. McNamara and his wife's ownership interests in Haverwood Management, LLC and Cantex Realties, LLC also provide funds sufficient to provide for the performance of Debtor's Plan; as well as for the purpose of paying any unpaid Allowed Administrative Claims and to provide for a dividend to holder of all Allowed Claims. A full-text copy of the Disclosure Statement is available at: http://bankrupt.com/misc/txnb16-31647-46.pdf Timothy O'Brion McNamara filed for Chapter 11 bankruptcy protection (Bankr. N.D. Tex. Case No. 16-31647) on April 28, 2016. The Debtor is represented by Leonard J. Robison II, Esq. TRI-STATE FINANCIAL: Investors Loses Appeal from $1.2MM Ruling -------------------------------------------------------------- Investors George Allison, Jr., Frank and Phyllis Cernik, Chris and Amy Daniel, Distefano Family Ltd. Partnership, Timothy Jackes, George Kramer, and Bernie Marquardt (collectively, "Allison"), John and Denise Hoich (the "Hoiches"), and Radio Engineering Industries, Inc. ("REI"), appeal the January 13, 2015, order and judgment of the bankruptcy court determining $1,190,000 in contested funds were property of the Tri-State Financial, LLC, bankruptcy estate and awarding Trustee Thomas D. Stalnaker certain fees and expenses from the estate. On May 22, 2014, the bankruptcy court decided the $1,190,000 was, in fact, property of the bankruptcy estate and was subject to Centris's security interest. The bankruptcy court rejected the investors' argument that they had established an express, resulting, or constructive trust. The bankruptcy court alternatively decided some -- but not all -- of the investors had executed releases barring their claims. The bankruptcy court did not alter the fee award. The investors each appealed to the Bankruptcy Appellate Panel, primarily arguing the bankruptcy court exceeded its authority on remand and failed to follow the law of the case in reconsidering its earlier ruling regarding ownership of the $1,190,000. The BAP rejected those arguments but again remanded the case because the bankruptcy court did not certify its familiarity with the record or give the parties an opportunity to recall witnesses as required by Federal Rule of Civil Procedure 63 and Federal Rule of Bankruptcy Procedure 9028. Judge Robert F. Rossiter, Jr., of the United States District Court for the District of Nebraska affirmed the bankruptcy court's order and judgment, concluding that the bankruptcy court did not err in concluding the investors failed to provide clear and convincing evidence of an express, resulting, or constructive trust. The appeals cases are GEORGE ALLISON, et al., Appellants, RADIO ENGINEERING INDUSTRIES, INC., Appellant, and JOHN HOICH AND DENISE HOICH, Appellants, Nos. 8:15-CV-33, 8:15-CV-38, 8:15-CV-39 (D. Nev.), IN THE MATTER OF: TRI-STATE FINANCIAL, LLC, Debtor. A full-text copy of the Memorandum and Order dated September 6, 2016 is available at https://is.gd/PRe5eh from Leagle.com. George Allison, Jr., Defendant, is represented by Charles J. Headley, Esq. -- HEADLEY LAW FIRM. Frank Cernik, Defendant, represented by Charles J. Headley, HEADLEY LAW FIRM. Phyllis Cernik, Defendant, represented by Charles J. Headley, HEADLEY LAW FIRM. Chris Daniel, Defendant, represented by Charles J. Headley, HEADLEY LAW FIRM. Amy Daniel, Defendant, represented by Charles J. Headley, HEADLEY LAW FIRM. Distefano Family LTD. Partnership, Defendant, represented by Charles J. Headley, HEADLEY LAW FIRM. Mark E. Ehrhart, Defendant, represented by Steven J. Olson, Esq. -- sjolson@bblaw.us -- BROWN, BROWN LAW FIRM. Robert G. Griffin, Defendant, represented by Charles J. Headley, HEADLEY LAW FIRM. John Hoich, Defendant, represented by Frederick D. Stehlik, Esq. -- GROSS, WELCH LAW FIRM. Denise Hoich, Defendant, represented by Frederick D. Stehlik, GROSS, WELCH LAW FIRM. Timothy Jackes, Defendant, represented by Charles J. Headley, HEADLEY LAW FIRM. James G. Jandrain, Defendant, represented by Charles J. Headley, HEADLEY LAW FIRM. American Interstate Bank, Defendant, represented by Mark J. LaPuzza, PANSING, HOGAN LAW FIRM. George Kramer, Defendant, represented by Charles J. Headley, HEADLEY LAW FIRM. Bernie Marquardt, Defendant, represented by Charles J. Headley, HEADLEY LAW FIRM. Radio Engineering Industries, Inc., Defendant, represented by James P. Waldron, GROSS, WELCH LAW FIRM & Michael J. Whaley, GROSS, WELCH LAW FIRM. Joseph Vacanti, Defendant, is represented by Steven J. Olson, BROWN, BROWN LAW FIRM. Centris Federal Credit Union, Defendant, is represented by David J. Skalka, Esq. -- DSkalka@crokerlaw.com -- CROKER, HUCK LAW FIRM & Martin P. Pelster, Esq. -- MPelster@crokerlaw.com -- CROKER, HUCK LAW FIRM. Tri-State Financial, LLC, Debtor, is represented by Jerrold L. Strasheim, Esq. -- STRASHEIM LAW FIRM. Thomas D. Stalnaker, Trustee, is represented by John D. Stalnaker, Esq. -- STALNAKER, BECKER LAW FIRM & Robert J. Becker, Esq. -- STALNAKER, BECKER LAW FIRM. U.S. Trustee, Trustee, is represented by Jerry L. Jensen, U.S. TRUSTEE & Patricia M. Fahey, U.S. TRUSTEE. About Tri-State Financial Tri-State Financial LLC, owner of the North Country Ethanol plant near Rosholt, South Dakota, filed a Chapter 11 petition (Bankr. D. Neb. Case No. 08-83016) on Nov. 21, 2008, in Omaha, Nebraska. The company listed assets of $35 million and debt totaling $27 million. Centris Federal Credit Union holds a secured claim aggregating $19.6 million. The Chapter 11 case was filed four days after Centris launched a foreclosure action against Tri-State. Tri-State Financial's Chapter 11 case was converted to a case under chapter 7 on Feb. 11, 2013. Thomas D. Stalnaker was named as Chapter 7 trustee. VANGUARD NATURAL: In Talks with Parties About Potential Financing ----------------------------------------------------------------- Vanguard Natural Resources, LLC, disclosed certain material non-public information, which was provided by the Company to certain third parties in connection with confidential discussions that have taken place regarding a potential refinancing and/or recapitalization of the Company's existing capital structure. The Management Presentation was provided to the Potential Financing Sources, pursuant to the terms of non-disclosure agreements entered into with each of the Potential Financing Sources to support the parties' due diligence processes. The discussions between the Company and the Potential Financing Sources regarding a potential transaction are ongoing. The Management Presentation is available for free at https://is.gd/m8bXrR About Vanguard Natural Vanguard Natural Resources, LLC, is a publicly traded limited liability company focused on the acquisition, production and development of oil and natural gas properties. Vanguard's assets consist primarily of producing and non-producing oil and natural gas reserves located in the Green River Basin in Wyoming, the Permian Basin in West Texas and New Mexico, the Gulf Coast Basin in Texas, Louisiana, Mississippi and Alabama, the Anadarko Basin in Oklahoma and North Texas, the Piceance Basin in Colorado, the Big Horn Basin in Wyoming and Montana, the Arkoma Basin in Arkansas and Oklahoma, the Williston Basin in North Dakota and Montana, the Wind River Basin in Wyoming and the Powder River Basin in Wyoming. More information on Vanguard can be found at www.vnrllc.com. As of June 30, 2016, Vanguard had $1.82 billion in total assets, $2.32 billion in total liabilities and a total members' deficit of $493.63 million. * * * As reported by the TCR on Aug. 22, 2016, S&P Global Ratings raised the corporate credit rating on Houston-based exploration and production company Vanguard to 'CCC-' from 'SD'. VEGA ALTA: Case Summary & 20 Largest Unsecured Creditors -------------------------------------------------------- Debtor: Vega Alta Community Health, Inc. PO Box 356 Catano, PR 00962 Case No.: 16-08128 Chapter 11 Petition Date: October 11, 2016 Court: United States Bankruptcy Court District of Puerto Rico (Old San Juan) Debtor's Counsel: Jaime Rodriguez Perez, Esq. JAIME RODRIGUEZ LAW OFFICE, PSC URB Rexville BB 21 Calle 38 Bayamon, PR 00957 Tel: 787 797-4174 Fax: 787-730-5454 E-mail: bayamonlawoffice@yahoo.com Total Assets: $25,582 Total Liabilities: $1.47 million The petition was signed by Luis M Gonzalez Bermudez, president. A copy of the Debtor's list of 20 largest unsecured creditors is available for free at http://bankrupt.com/misc/prb16-08128.pdf VICTOR SEIJAS: Disclosures Approved, Confirmation Hearing on Nov. 8 ------------------------------------------------------------------- Judge Robert A. Mark of the U.S. Bankruptcy Court for theSouthern District of Florida approved the Amended Disclosure Statement describing Victor F. Seijas, Jr. and Cecilia M Seijas' Amended Plan of Reorganization. Judge Mark scheduled the hearing for the confirmation of the Debtors' amended plan of reorganization to be held on November 8, 2016 at 2:30 p.m. Judge Mark fixed November 1, 2016 as the last day for filing and serving written objections to confirmation of the plan, as well as the deadline for filing ballots acceptancing or rejecting the Plan. Judge Mark also fixed November 3, 2016 as the deadline for filing Plan Proponent's report and confirmation affidavit. The Troubled Company Reporter on Sept. 13, 2016, reported that, under their Plan, the Debtors commit their disposable income to payment of holders of Class 12 claims -- which consists of allowed unsecured claims, including undersecured, wholly unsecured claims, or claims stripped off of the Debtors' properties -- over the five-year Plan. Allowed Unsecured Claims are estimated at $37,429,082.45. Total disposable income to be paid to the Class 12 creditors over the five-year Plan is $73,620. This will result in an estimated 0.20% distribution on each Class 12 Allowed Unsecured Claim claim. The Amended Plan provides that the distribution to Class 12 Claims assumes that the Debtor prevails on its motion to value the lien of BOA regarding Seico Construction Corp stock owned by the Debtors. If BOA was to prevail and be afforded the lien on the stock, then the distribution available to unsecured creditors would be substantially reduced in that the Debtor would have to devote a substantial portion of their income to maintain ownership of the entity that affords them income to make the distribution to unsecured creditors. Class 12 is impaired under the Plan. The plan payments will be made from the Debtors' disposable income as calculated from the Debtors' projected income and expenses. The Amended Disclosure Statement is available at: http://bankrupt.com/misc/flsb14-33499-134.pdf About Victor and Cecilia Seijas Victor F. Seijas, Jr., and Cecilia M. Seijas sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S. D. Fla. Case No. 14-33499) on Oct. 22, 2104. The Debtor is assigned to Judge Robert A. Mark. VICTOR SEIJAS: Has Deal with BofA; Amended Plan Filed ----------------------------------------------------- Victor Seijas and Cecilia Seijas filed with the Bankruptcy Court in Miami a Second Amended Disclosure Statement for their Plan of Reorganization. The Disclosure Statement provides that plan votes must be cast on or before Nov. 1. The deadline to file an objection to confirmation of the Debtors' Plan is also Nov. 1. The hearing to consider confirmation of the Plan and any timely objections to confirmation will be held Nov. 8 at 2:30 p.m. The Second Amended Disclosure Statement also reflects the Debtors' settlement agreement with Bank of America on its secured claim. Class 11 consists of the Allowed Secured Claim of BOA. BOA filed two proofs of claim -- claim no. 8 for $4,817,408 and claim no. 9 for $15,315,112. Both claims are evidenced by properly recorded copies of certified judgments and appear to be valid judicial liens on any unencumbered real property of the Debtors in Miami-Dade County. Pursuant to a settlement between the Debtors and BOA, which terms have been incorporated into the Plan for the treatment for BOA's Class 11 Claim, on the Effective Date, the Debtors will pay $125,000 in cash to BOA in full satisfaction of BOA's judicial liens on the Debtors' real and personal property. BOA will also have an allowed unsecured claim in the amount of $20,007,521 -- the total of BOA's filed POCs less $125,000 -- entitled to pro rata share of distribution as an Allowed Class 12 Claim. The Debtors will execute releases in favor of BOA. It is an express condition to confirmation of the Plan that prior to entry of any order confirming this Plan, all of the $125,000 in cash to be paid to BOA in satisfaction if its Class 11 Claim shall be deposited into the trust account of the Debtors' counsel (and proof of such deposit to be provided to BOA) to be held in trust for the sole purpose of paying BOA $125,000 in cash on the Effective Date. Confirmation of the Plan is conditioned upon all of the $125,000 in cash to be paid to BOA in satisfaction if its Class 11 Claim being deposited into the trust account of the Debtor's counsel (and proof of such deposit to be provided to BOA) to be held in trust for the sole purpose of paying BOA $125,000 in cash on the Effective Date. Further, the form of any order confirming the Plan shall be approved by BOA before entry. The Debtors had proposed that BOA's Class 11 claims were to be bifurcated into secured and unsecured claims. The lien of BOA would be stripped off completely from certain of the Debtors' properties. BOA challenged the Debtors' bid. The $125,000 to BOA will be funded through a mortgage from Twin Lakes Homes of Miami LLC, a Florida limited liability company that is controlled by Zoe Milagros Seijas, the Debtor Victor Seijas' mother. The Debtor will be filing herewith a motion to approve the financing. The terms of the $125,000 will equal the proposed terms that Debtors intended to pay BOA over time, i.e, 3.75% interest rate, 5 year term, equal monthly payments of $1,991.08, with a balloon of approximately $16,221 ($125,000 less $108,779) payable on the 60 month following the Effective Date. General unsecured claims are grouped in Class 12. Estimated Allowed Unsecured Claims are $37,429,082, including the unsecured portion of BOA's claims. The Debtors commit their disposable income to payment of holders of Class 12 claims over the five-year Plan. Total disposable income to be paid to the Class 12 creditors over the five-year Plan is $75,307.80. This is more than the estimated $66,500 to be received in a hypothetical Chapter 7 liquidation after payment of the Chapter 7 Trustee and administrative expenses, and will result in an estimated 00.20% distribution on each Class 12 Allowed Unsecured Claim. Class 12 is impaired under the Plan. The Debtor will not seek to allow the unsecured votes of creditors Banif Finance (USA) Corp., f/k/a Banif Mortgage Company, or One Cat Cube, LLC for purposes of determining acceptance of Class 12. A copy of the Amended Disclosure Statement is available at: http://bankrupt.com/misc/flmb14-33499_Am_DS_Seijas.pdf A copy of the Second Amended Disclosure Statement is available at: http://bankrupt.com/misc/flsb14-33499-0165.pdf About Victor and Cecilia Seijas Before the real estate crash of 2007/2008, Victor F. Seijas, Jr., and Cecilia M. Seijas expanded their business operations from Seico Construction, which built and remodeled residential houses and commercial buildings, to acquisition of land for residential development projects. Although they experienced initial success, the real estate market collapse in 2007/2008 brought an abrupt halt to all of the residential development projects that were in the initial stages of development. Victor F. Seijas, Jr., and Cecilia M. Seijas sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 14-33499) on Oct. 22, 2104. The Debtor is assigned to Judge Robert A. Mark. The Debtors are represented by Gary Murphree, Esq., at AM Law, in Miami. WALKER III: C. Randel Lewis Named Ch. 11 Examiner ------------------------------------------------- Judge Elizabeth E. Brown of the U.S. Bankruptcy Court for the District of Colorado entered an order on October 4, 2016, approving the appointment of C. Randel Lewis as Chapter 11 Examiner for the Debtor, Walker III- Voss, LLC. The Troubled Company Reporter on Sept. 26, 2016, reported that the Debtor asked to enter an order appointing a Chapter 11 Examiner for the administration of its bankruptcy case and for the preservation of the equity in its real estate. The Debtor's request for the appointment of an examiner is aimed to eliminate ongoing complications and distractions in the administration of its bankruptcy case, to facilitate a prompt resolution of the proceedings, and to allow performance under a settlement agreement, which resolves the questions concerning the Examiner's authority to resolve claims and liquidate assets for the benefit of creditors. The Settlement Agreement seeks to expand the scope of the Examiner Order entered in a jointly administered Case No. 15-18281 EEB. The TCR, on Oct. 4, 2016, reported that the Bankruptcy Court entered an order directing the U.S. Trustee to appoint a Chapter 11 Examiner for the Debtor. The Debtor is one of the many business entities owned by Debtors Craig and Susan Walker. The Court previously ordered the appointment of an Examiner in the Walkers' Chapter 11 case, and the U.S. Trustee appointed C. Randel Lewis as the examiner with powers. The Examiner is appointed only in the Walkers' case, and not in the Walker III Voss' case. Prior to approval of the Settlement Agreement negotiated by the Examiner, Randel Lewis, the Court raised concerns on how he would be able to control Walker III- Voss and its assets, given that Walker- III Voss is a separate debtor-in-possession with duties to administer its own assets. Thus, in this case, Walker III-Voss subsequently filed its Motion, seeking appointment of an examiner in its Chapter 11 case. The scheduled debts of Walker-III Voss do not exceed $5,000,000. However, the Court finds that it is in the best interest of the Creditors that an Examiner will be appointed. The appointment will allow the Settlement Agreement to be fully effectuated in both bankruptcy cases of the Debtors Craig and Susan Walker, and Debtor Walker-III Voss. About Walker III - Voss Walker III - Voss, LLC, filed a Chapter 11 petition (Bankr. D. Colo. Case No. 15-19428) on August 24, 2015, and is represented by Harvey Sender, Esq., in Denver, Colorado. At the time of filing, the Debtor had US$1 million to US$10 million in estimated assets and S$1 million to US$10 million in estimated liabilities. The petition was signed by Craig J. Walker, managing member. The Debtor did not include a list of its largest unsecured creditors when it filed the petition. The individuals' bankruptcy case is In re: CRAIG J. WALKER and SUSAN ANN WALKER, Debtors, Case No. 15-18281 EEB (D. Colo.). WATTENBERG OIL: W. Donald Gieseke Named Chap. 11 Trustee -------------------------------------------------------- Tracy Hope Davis, the United States Trustee for Region 17, appointed W. Donald Gieseke as the Interim Chapter 11 Trustee for Wattenberg Oil & Gas Investment Group LLC on October 3, 2016. The appointment provides that, unless a Trustee is elected at the meeting of creditors to be called pursuant to Sec. 341 of the Bankruptcy Code, in the case, the Interim Trustee will serve as Trustee. The Chapter 11 Trustee is authorized to: (a) collect and reduce to money all property of the estate, both real and personal; and (b) have full and unconditional access to and control of any and all commercial or personal accounts and documents established by, maintained by or funded by the Debtor, including without limitation, freezing accounts, wiring funds to the estate's federal depository, maintaining and transacting business with the existing accounts, changing the mailing addresses, and obtaining past account and document histories. About Wattenburg Oil & Gas On Dec. 14, 2015, an involuntary Chapter 11 bankruptcy petition (Case No. 15-51635, Bankr. Nevada) was filed against Wattenberg Oil & Gas Investment Group, LLC by petitioning creditors Donald Keith Mooney, as trustee of the Arkansas Urology; PA PSP & 401k; Gerard Geosciences, Inc.; Gerald Family LLC; Leo & Melinda Gerard and John E. Atkins. The Petitioning Creditors are joined by Bill Nachatilo, Mike Jessen, Matt Jessen, WR Bob Atkins, and Mark Thurman. The Petitioning Creditors and Joining Creditors claim to have lent over $4.4 million to Wattenberg. The Petitioning Creditors are represented by Kevin A. Darby, Esq., of Darby Law Practice, Ltd., in Reno, Nevada. Wattenberg is primarily a holding company, with its most significant asset being 100% of the membership interest in Elite Energy Engineering, LLC. Located in Carson City, Nevada, EEE is an energy management and manufacturing company that specializes in cogeneration. The Debtor has tapped Stephen R. Harris, Esq. of Harris Law Practice, LLC, as counsel. WAYNE CITY, MI: Moody's Lowers Issuer Rating to Ba3; Outlook Neg ---------------------------------------------------------------- Moody's Investors Service has downgraded the City of Wayne, MI's issuer rating to Ba3 from Ba1 and general obligation limited tax (GOLT) rating to B1 from Ba2. The outlook is negative. The city has $28.1 million of rated GOLT bonds. Moody's placed the ratings under review for possible downgrade on Aug. 11, 2016, following a levy failure and subsequent request for a preliminary financial review by the State of Michigan. This rating action concludes that review. The downgrade of the city's issuer rating to Ba3 reflects a very stressed financial position given an ongoing structural imbalance with few options to make timely expenditure cuts or revenue enhancements. The city's liquidity likely remains sufficient to meet current year obligations, but will continue to degrade absent operating adjustments. The rating also reflects the city's modestly-sized tax base with significant concentration in auto manufacturing, a weakened socioeconomic profile, very high leverage and high fixed costs. The GOLT rating is one notch below the issuer rating given strong limitations on the city's ability to raise revenue to cover operating costs inclusive of debt service. Rating Outlook The negative outlook reflects the expectation that the city's sizeable operating gap will continue to exert tremendous stress on liquidity. Previous attempts to increase revenues and reduce expenditures have been insufficient, and the city has limited options to address its structural shortfall. Factors that Could Lead to an Upgrade Stabilization of the city's financial operations and reserves Factors that Could Lead to a Downgrade Further narrowing of the city's liquidity Lack of progress on trimming operating expenses Legal Security The city's outstanding rated securities are secured by its pledge and authorization to levy taxes subject to charter, statutory and constitutional limitations. Use of Proceeds Not applicable. Obligor Profile The City of Wayne is located in the north central portion of Wayne County, approximately 21 miles west of Detroit. The city operates under a Commission-Manager form of government and provides municipal services including public safety, health and welfare, recreation and utilities to a population of approximately 17,600 residents. Methodology The principal methodology used in this rating was US Local Government General Obligation Debt published in January 2014. WENDY ROBERTS: Slow Season for Business in Aug. & Sept., PCO Says ----------------------------------------------------------------- Constance Doyle, as Patient Care Ombudsman for Wendy Roberts, has filed her twenty-first interim report for the period of August 1, 2016, through September 30, 2016. The PCO reported that the business throughout the desert community is on slow season for the months of August and September 2016. On August, the staff are busy with 'outreach' calls offering 'summer specials' to current and former patients. Also, some staff are on vacation without pay, thus, reducing payroll. Meanwhile, the PCO noted that on September 2016, the patient list per day continues in the teens with expectations of major growth in the succeeding months. The bankruptcy case is Wendy Roberts, Case No. 6:13-bk-14794-WJ (Bankr. C.D. Calif.). WESTPORT HOLDINGS II: U.S. Trustee Forms 3-Member Committee ----------------------------------------------------------- Guy G. Gebhardt, Acting U.S. Trustee for Region 21, on Oct. 11 appointed three creditors of Westport Holdings Tampa, Limited Partnership, to serve on the official committee of unsecured creditors. The committee members are: (1) Muriel T. Upton Trust Sandra Dodds, Trustee 108 Travis Drive Georgetown, TX 78633 Tel: (512) 639-0664 (2) Darrell D. Ballard 200 Lake Avenue NE, Apt. 121 Largo, FL 33771-1656 Tel: (352) 272-9308 (3) Thomas M. Allensworth, Jr. c/o Alder Allensworth (Chairperson) 12708 Summit Street Tampa, FL 33612 Tel: (813) 930-2888 Official creditors' committees have the right to employ legal and accounting professionals and financial advisors, at a debtor's expense. They may investigate the debtor's business and financial affairs. Importantly, official committees serve as fiduciaries to the general population of creditors they represent. About Westport Holdings Tampa Westport Holdings Tampa, dba University Village, is a care retirement community in Tampa, Florida. It offers residents villas, apartments, an assisted living facility and a skilled nursing care center for their end of life needs. Westport Holdings Tampa, Limited Partnership and Westport Holdings Tampa II, Limited Partnership filed Chapter 11 petitions (Bankr. M.D. Fla. Case Nos.16-8167 and 16-8168) on Sept. 22, 2016. The Debtors are represented by Scott A. Stichter, Esq., and Stephen R. Leslie, Esq., at Stichter Riedel Blain & Postler, P.A. WESTPORT HOLDINGS: Taps Broad and Cassel as Special Counsel ----------------------------------------------------------- Westport Holdings Tampa Limited Partnership and Westport Holdings Tampa II Limited Partnership seek approval from the U.S. Bankruptcy Court for the Middle District of Florida to hire Broad and Cassel as their special counsel. Broad and Cassel will provide legal advice in connection with healthcare and related litigation matters. M. Stephen Turner, Esq., the attorney designated to represent the Debtors, will be paid $435 per hour for his services. The hourly rate of Mr. Turner's associate is $200. In a court filing, Mr. Turner disclosed that no attorney in his firm represents interests adverse to the Debtors or their bankruptcy estates. The firm can be reached through: M. Stephen Turner, Esq. Broad and Cassel 215 South Monroe Street, Suite 400 Tallahassee, FL 32301 Phone: 850-681-6810 Email: sturner@broadandcassel.com About Westport Holdings Tampa Westport Holdings Tampa, dba University Village, is a care retirement community in Tampa, Florida. It offers residents villas, apartments, an assisted living facility and a skilled nursing care center for their end of life needs. Westport Holdings Tampa, Limited Partnership and Westport Holdings Tampa II, Limited Partnership filed chapter 11 petitions (Bankr. M.D. Fla. Case Nos. 16-8167 and 16-8168) on September 22, 2016. The Debtors are represented by Scott A. Stichter, Esq. and Stephen R. Leslie, Esq., at Stichter Riedel Blain & Postler, P.A. WILLIAM MCDANIEL: Unsecureds To Get $50K Over 28 Quarters, Plus 2% ------------------------------------------------------------------ William Charles McDaniel, III, and Crystal Gail McDaniel filed with the U.S. Bankruptcy Court for the Northern District of Florida their Disclosure Statement in conjunction with their Plan of Reorganization. William works as a security specialist at Florida State Hospital while Crystal works as a senior licensed practical nurse at the Florida State Hospital. Crystal is also a full-time student at Bainbridge State College. They both lived in Grand Ridge, Florida. The Debtors generate income from their employment and the operation of their three mobile home parks. Pursuant to cash projections and actual income subsequent to the filing of their Disclosure Statement and Plan of Reorganization, the Debtors' should have sufficient cash from their operations to fund their Plan payments. The Debtors' general unsecured creditors have an aggregate and/or estimated claims of $347,542.58, which will be paid pro rata, after administrative claims, from the proceeds of the Debtors daily operations. These creditors, are classified as Class IV, are impaired, and as such are entitled to vote to accept or reject the Plan. Under the Plan Class IV-A, general unsecured creditors will be paid a dividend of $50,000, pro rata over 28 quarterly payments, plus 2% interest on the quarterly dividends. The quarterly, aggregate payment, with interest will be $1,918.08. Judge Karen Specie of the U.S. Bankruptcy Court for the Northern District of Florida has conditionally approved the Disclosure Statement filed by William Charles McDaniel III and Crystal Gail McDaniel in support of their Chapter 11 Plan. A confirmation hearing on the Plan will be held on Nov. 17, 2016, at 10:00 a.m., in Panama City, Florida. Objections to the confirmation should be filed and served seven days before the Confirmation hearing. The Debtors' Disclosure Statement is available at https://is.gd/I2s4kt About William Charles McDaniel, III and Crystal Gail McDaniel William Charles McDaniel, III, and Crystal Gail McDaniel filed a Chapter 11 petition (Bankr. N.D. Fla. Case No. 16-50050) on Feb. 24, 2016. The Debtors are represented by: Thomas B. Woodward, Esq. THOMAS WOODWARD LAW FIRM, PLLC P.O. Box 10058 Tallahassee, FL 32302 Tel: (850) 222-4818 Email: woodylaw@embarqmail.com XEROX CORP: S&P Affirms 'BB+' Rating on Subordinated Debt --------------------------------------------------------- S&P Global Ratings said it affirmed its 'BBB-' long-term corporate credit rating and A-3 short-term corporate credit rating on Norwalk, Conn.-based Xerox Corp. The outlook is negative. S&P also affirmed its 'BBB-' issue-level ratings and its 'A-3' commercial paper rating. In addition, S&P affirmed its 'BB+' rating on the company's subordinated debt. S&P removed all ratings from CreditWatch, where it had placed them with negative implications on Jan. 29, 2016. "The rating actions reflect Conduent's capital structure information provided in its Form 10 and our expectations for Xerox's post-separation capital structure, operating performance, and financial policy," said S&P Global Ratings credit analyst John Moore. The original CreditWatch placement on Jan. 29, 2016, followed the company's announcement that it plans to separate into two public companies in 2016 through a transaction intended to be tax free for Xerox shareholders for federal income tax purposes. Xerox plans to separate its business process outsourcing services business, Conduent Inc., from its remaining printing products and services businesses, for which it plans to retain the name Xerox Corp. Xerox expects to complete the separation by Jan. 1, 2017. The negative outlook reflects S&P's expectation for sustained low-single-digit revenue declines through 2018 and execution risk of the company's strategy to build presence in growing printing markets outside of A3 markets in secular decline. YELLOW CAB: David Longyear Appointed to Creditors' Committee ------------------------------------------------------------ The Office of the U.S. Trustee on Oct. 7 appointed David Longyear to the official committee of unsecured creditors of Yellow Cab Cooperative, Inc. The committee members are now composed of: (1) David Longyear c/o Byron Smith 825 Van Ness Ave., #502 San Francisco, CA 94109 (2) Ida Christina Cruz Fua c/o David J. Cook, Esq. 165 Fell Street San Francisco, CA 94102-5106 (3) Sumi Lim c/o Gary A. Angel, Esq. 177 Post Street, Suite 550 San Francisco, CA 94108 (4) Marshall Childs c/o Benjamin Siegel, Esq. Siegel Lewitter Malkani 1939 Harrison St., #307 Oakland, CA 94612 (5) Michael Moran c/o Michael Padway, Esq. 3140 Chapman Street Oakland, CA 94601 (6) Tanya R. Thienngern c/o Lawrence E. Biegel, Esq. 2801 Monterey-Salinas Highway, Suite A Montery, CA 93940 The five other committee members were appointed in March this year, court filings show. About Yellow Cab Cooperative Yellow Cab Cooperative, Inc. provides taxicab transportation services in the San Francisco, California area. In San Francisco, taxicab "color schemes" are licensed by the County of San Francisco to provide services to taxi medallion owners, which color schemes and medallion holders operate in a highly regulated environment. Yellow Cab is a non-profit cooperative service company that provides an operating base for approximately 400 San Francisco taxi medallions (or permits), operating on a cooperative basis. Yellow Cab supports approximately 1,000 medallion owners and lessee drivers in their individual taxi operations, and separately employs approximately 60 persons to provide those support services. Yellow Cab currently supports approximately one-third of the total medallions operating in San Francisco. The Debtor filed a Chapter 11 petition (Bankr. N.D. Calif., Case No. 16-30063) on Jan. 22, 2016. The petition was signed by Pamela Martinez, president. The Debtor has tapped Farella Braun and Martel LLP as its legal counsel. The case is assigned to Judge Dennis Montali. The Debtor estimated assets of $1 million to $10 million, and debts of $10 million to $50 million. ZYLSTRA DAIRY: Hires Dahl Law as Counsel ---------------------------------------- Zylstra Dairy, LTD, the Debtor, seek authorization from the U.S. Bankruptcy Court for the Northern District of Ohio to employ Dahl Law LLC and Sherri L. Dahl, Esq. as counsel for the Debtor. The Debtor anticipates that Dahl will: a. advise the Debtor with respect to its powers and duties as a debtor in possession in the continued management and operation of its business; b. attend meetings and negotiate with representatives of the lender, creditors, and other parties in interest and advise and consult on the conduct of this chapter 11 case, including all of the legal and administrative requirements of operating in chapter 11; c. assist the Debtor with amendment, if necessary, of the Schedules of Assets and Liabilities and Statements of Financial Affairs; d. advise the Debtor in connection with any necessary post- petition financing arrangements and negotiate and draft documents related thereto; e. advise the Debtor, if necessary, in connection with any contemplated sale of assets, business combination, including negotiating agreements, formulating and implementing appropriate procedures with respect to the closing of any such transactions, and counseling the Debtor in connection with such transactions; f. advise the Debtor on matters related to the evaluation of the assumption, rejection or assignment of unexpired leases and executor contracts; g. advise the Debtor with respect to legal issues arising in or relating to the Debtor's ordinary course of business, if necessary, including attending meetings with the Debtor's financial advisor and others; h. take all necessary action to protect and preserve the Debtor's estate, including the prosecution of actions on its behalf, the defense of actions commenced against it, negotiations concerning all litigation in which the Debtor is involved and objecting to claims filed against the Debtor's estate, if appropriate; i. prepare, on the Debtor's behalf, all motions, applications, answers, orders, reports and papers necessary to the administration of the estate; j. negotiate and prepare, on the Debtor's behalf, a plan of reorganization, disclosure statement and all related agreements and/or documents and take any necessary action on behalf of the Debtor to obtain confirmation of such plan; k. attend meetings with third parties and participate in negotiations with respect to the above matters; l. appear before this Court, any appellate courts and the United States Trustee and protect the interests of the Debtor's estate before such courts and the United States Trustee; and m. perform all other necessary legal services and provide all other necessary legal advice to the Debtor in connection with this chapter 11 case, including but not limited to secured and unsecured claims of creditors, and litigation, employee, tax, contract, and other corporate matters Dahl's hourly fee is $250 per hour. Time may also be billed for paralegal services at $80 per hour. Dahl will seek reimbursement of actual and necessary expenses incurred in connection with its representation of the Debtor in this case. Dahl will charge the Debtor for expenses incurred, including, computerized research, postage, parking, tolls, witness fees and other fees related to meetings, trials and hearings (if any). Dahl will not charge for travel time to Toledo for hearings. The Debtor requests that fees and expenses incurred by the Debtor from Dahl be paid monthly, on an interim basis, subject to informal review and objection by the U.S. Trustee's Office and secured lender AgChoice Farm Credit, ACA (AgChoice). Specifically, the Debtor anticipates that Dahl will prepare invoices monthly, distributing such invoices via electronic mail to the Debtor, the U.S. Trustee’s representatives, Tiiara N.A. Patton and Maria Giannirakis, and AgChoice's counsel, Benjamin Heywood, with the understanding that any informal objection will be received within seven days. If there are no unresolved objections after the seven day review period, then the Debtor will pay 80% of Dahl's fees and 100% of unreimbursed expenses. Dahl will file interim and final fee applications as required by the Bankruptcy Code. The interim compensation procedures will provide the Debtor with regular monthly feedback regarding the costs that they are accruing and are in the best interest of the Debtor’s estate. The firm attests that is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code and does not represent any interest adverse to the Debtors and their estates. Dahl Law can be reached at: Sherri L. Dahl, Esq. Dahl Law LLC Telephone: (216) 235 6871 E-mail: sdahl@dahllawllc.com About Zylstra Dairy Zylstra Dairy, Ltd., filed a chapter 11 petition (Bankr. N.D. Ohio Case No. 16-32720) on Aug. 29, 2016. The petition was signed by Ijme L. Zylstra, member. The case is assigned to Judge Mary Ann Whipple. The Debtor disclosed total assets at $4.64 million and total liabilities at $5.54 million. On August 29, 2016, the Debtor sought retention of Steven L. Diller, Eric Neuman, and the firm Diller and Rice, LLC as bankruptcy legal counsel in this case. The Diller Rice Application has not yet been approved. On September 13, 2016, Diller Rice filed the Motion to Withdraw as Counsel. [*] Global Spec.-Grade Default Rate Down in 3rd Qtr., Moody's Says ------------------------------------------------------------------ Moody's global speculative-grade default rate closed at 4.5% for the trailing 12-month period ended September 2016, down slightly from 4.6% at June 2016, the rating agency says in its latest global default monitor. Moody's expects the global speculative-grade default rate to finish 2016 at 4.4%, before easing off to 3.3% a year from now. "Our default outlook for speculative-grade firms is consistent with narrowing high-yield spreads," said Sharon Ou, a Moody's Vice President and Senior Credit Officer. "Furthermore, the rise in oil prices since early 2016 has facilitated asset sales and better capital market access for the energy sector, which has been the main driver of defaults over the past two years." Twenty-five Moody's-rated corporate issuers defaulted in the third quarter, down from 50 the previous quarter, a noticeable drop in the quarterly default count since early 2015. Fifteen, or 60%, of the third-quarter's defaults, were in the energy sector. Defaults were again concentrated in the US, where 20 companies were unable to meet their debt obligations. Prominent recent defaults among them were oil and gas concerns like Comstock Resources, Inc., W&T Offshore, Inc. and PetroQuest Energy, Inc. The US speculative-grade default rate held steady at 5.4% between the second and third quarters. In Europe the default count remained low: Two affiliated companies defaulted in July, but there were no new defaults in either August or September. Moody's expects that default risk will remain higher in the energy sector than in other industries over the next year. In the US, the default rate is projected to be the highest for metals and mining companies, followed by oil and gas issuers. In Europe, the most troubled sector likely will be consumer services, followed by media: advertising, printing and publishing. [^] Recent Small-Dollar & Individual Chapter 11 Filings ------------------------------------------------------- In re Rade Raicevic Bankr. C.D. Cal. Case No. 16-12603 Chapter 11 Petition filed September 6, 2016 represented by: Mark J Markus, Esq. LAW OFFICE OF MARK J. MARKUS E-mail: bklawr@bklaw.com In re Paul Arthur Johnson Bankr. C.D. Cal. Case No. 16-21882 Chapter 11 Petition filed September 6, 2016 represented by: Thomas B Ure, Esq. URE LAW FIRM E-mail: tbuesq@aol.com In re Blair Harrison Gladwin and Tonetta Laureen Simone Gladwin Bankr. E.D. Cal. Case No. 16-13271 Chapter 11 Petition filed September 6, 2016 represented by: Thomas H. Armstrong, Esq. In re Kirk's Framing Inc. Bankr. M.D. Fla. Case No. 16-03393 Chapter 11 Petition filed September 6, 2016 See http://bankrupt.com/misc/flmb16-03393.pdf represented by: Thomas C Adam, Esq. ADAM LAW GROUP, P.A. E-mail: tadam@adamlawgroup.com In re Barry S. Mittleberg, P.A. Bankr. S.D. Fla. Case No. 16-22322 Chapter 11 Petition filed September 6, 2016 See http://bankrupt.com/misc/flsb16-22322.pdf represented by: Stan Riskin, Esq. ADVANTAGE LAW GROUP, P.A. E-mail: stan.riskin@gmail.com In re Michael L Casteel Bankr. M.D. Ga. Case No. 16-51839 Chapter 11 Petition filed September 6, 2016 represented by: Christopher W. Terry, Esq. STONE AND BAXTER, LLP E-mail: cterry@stoneandbaxter.com In re Terry W. Smith and Brenda S. Smith Bankr. N.D. Ga. Case No. 16-11785 Chapter 11 Petition filed September 6, 2016 represented by: J. Nevin Smith, Esq. SMITH CONERLY LLP E-mail: awilson@smithconerly.com In re Ride Today Financing LLC Bankr. N.D. Ga. Case No. 16-65674 Chapter 11 Petition filed September 6, 2016 Filed Pro Se In re Redding Chemicals and Industrial Supplies, Inc. Bankr. E.D.N.C. Case No. 16-04664 Chapter 11 Petition filed September 6, 2016 See http://bankrupt.com/misc/nceb16-04664.pdf represented by: John G. Rhyne, Esq. E-mail: johnrhyne@johnrhynelaw.com In re B6usa, Inc. Bankr. E.D.N.C. Case No. 16-046666 Chapter 11 Petition filed September 6, 2016 See http://bankrupt.com/misc/nceb16-04666.pdf represented by: Travis Sasser, Esq. SASSER LAW FIRM E-mail: tsasser@carybankruptcy.com In re Rudolf Heinz Hendel and Catherine Gei-Inn Lin-Hendel Bankr. D.N.J. Case No. 16-27152 Chapter 11 Petition filed September 6, 2016 represented by: Harrison Ross Byck, Esq. KASURI BYCK, LLC E-mail: lawfirm@kasuribyck.com In re Big Guys Pizzeria and more, Inc. Bankr. W.D.N.Y. Case No. 16-11735 Chapter 11 Petition filed September 6, 2016 See http://bankrupt.com/misc/nywb16-11735.pdf represented by: James M. Joyce, Esq. E-mail: jmjoyce@lawyer.com In re DBDFW2, LLC Bankr. N.D. Tex. Case No. 16-33554 Chapter 11 Petition filed September 6, 2016 See http://bankrupt.com/misc/txnb16-33554.pdf represented by: Eric A. Liepins, Esq. ERIC A. LIEPINS, P.C. E-mail: eric@ealpc.com In re Thomas Gene Ferrell Bankr. S.D. Tex. Case No. 16-34499 Chapter 11 Petition filed September 6, 2016 represented by: James H Stokes, Jr, Esq. E-mail: jim.stokes57@yahoo.com In re Murdock Empire Group, Inc. Bankr. D. Ariz. Case No. 16-11113 Chapter 11 Petition filed September 28, 2016 See http://bankrupt.com/misc/azb16-11113.pdf represented by: Brian Blum, Esq. ANDANTE LAW GROUP, PLLC E-mail: brian@andantelaw.com In re North Beaches Pharmacy, Inc. Bankr. M.D. Fla. Case No. 16-03618 Chapter 11 Petition filed September 28, 2016 See http://bankrupt.com/misc/flmb16-03618.pdf represented by: Jason A Burgess, Esq. THE LAW OFFICES OF JASON A. BURGESS, LLC E-mail: jason@jasonaburgess.com In re Evergreen Health Services, Inc. Bankr. E.D. Mich. Case No. 16-53329 Chapter 11 Petition filed September 28, 2016 See http://bankrupt.com/misc/mieb16-53329.pdf represented by: Lynn M. Brimer, Esq. STROBL & SHARP, PC E-mail: lbrimer@stroblpc.com In re Richard R Kelterborn and Janis E Meredith-Kelterborn Bankr. E.D. Mich. Case No. 16-53330 Chapter 11 Petition filed September 28, 2016 represented by: Lynn M. Brimer, Esq. STROBL & SHARP, PC E-mail: lbrimer@stroblpc.com In re Sapps Welding & Radiator Service, Inc. Bankr. E.D.N.C. Case No. 16-05069 Chapter 11 Petition filed September 28, 2016 See http://bankrupt.com/misc/nceb16-05069.pdf represented by: J.M. Cook, Esq. J.M. Cook, P.A. E-mail: J.M.Cook@jmcookesq.com In re Jeffrey P. Burgess Bankr. E.D.N.C. Case No. 16-05070 Chapter 11 Petition filed September 28, 2016 represented by: J.M. Cook, Esq. J.M. Cook, P.A. E-mail: J.M.Cook@jmcookesq.com In re David Parker and Brandi Parker Bankr. D. Nev. Case No. 16-15276 Chapter 11 Petition filed September 28, 2016 represented by: David J. Winterton, Esq. E-mail: david@davidwinterton.com In re Silver Saddle, Inc. dba Bogey's Bar & Grill Bankr. D. Nev. Case No. 16-15281 Chapter 11 Petition filed September 28, 2016 See http://bankrupt.com/misc/nvb16-15281.pdf represented by: David A Riggi, Esq. E-mail: darnvbk@gmail.com In re Bom Dia Realty Inc. Bankr. E.D.N.Y. Case No. 16-44341 Chapter 11 Petition filed September 28, 2016 See http://bankrupt.com/misc/nyeb16-44341.pdf represented by: Eric H Horn, Esq. VOGEL BACH & HORN, LLP E-mail: ehorn@vogelbachpc.com In re LOF Associates Inc. Bankr. E.D.N.Y. Case No. 16-74448 Chapter 11 Petition filed September 28, 2016 See http://bankrupt.com/misc/nyeb16-74448.pdf represented by: Anthony F Giuliano, Esq. PRYOR & MANDELUP E-mail: afg@pryormandelup.com In re PAOS Associates Inc. Bankr. E.D.N.Y. Case No. 16-74449 Chapter 11 Petition filed September 28, 2016 See http://bankrupt.com/misc/nyeb16-74449.pdf represented by: Anthony F Giuliano, Esq. PRYOR & MANDELUP E-mail: afg@pryormandelup.com In re John P. Callanan and Kimberley Callanan Bankr. S.D.N.Y. Case No. 16-23323 Chapter 11 Petition filed September 28, 2016 represented by: Anne J. Penachio, Esq. PENACHIO MALARA LLP E-mail: apenachio@pmlawllp.com In re DeGraw Realty Co., Inc. Bankr. S.D.N.Y. Case No. 16-36665 Chapter 11 Petition filed September 28, 2016 See http://bankrupt.com/misc/nysb16-36665.pdf represented by: Thomas Genova, Esq. GENOVA & MALIN, ATTORNEYS E-mail: genmallaw@optonline.net In re Marian Mitchell Oliver Corpration Bankr. D.S.C. Case No. 16-04896 Chapter 11 Petition filed September 28, 2016 See http://bankrupt.com/misc/scb16-04896.pdf Filed Pro Se In re NTFVA, LLC Bankr. N.D. Cal. Case No. 16-42726 Chapter 11 Petition filed September 29, 2016 See http://bankrupt.com/misc/canb16-42726.pdf represented by: Scott Jordan, Esq. JORDAN LAW OFFICES E-mail: sjordan@sjordanlaw.com In re Errol G. Duncan and Yolanda Perez-Duncan Bankr. N.D. Ga. Case No. 16-67212 Chapter 11 Petition filed September 29, 2016 represented by: Evan M. Altman, Esq. E-mail: evan.altman@laslawgroup.com In re Maurice G. Leblanc and Brenda P. Leblanc Bankr. W.D. La. Case No. 16-51345 Chapter 11 Petition filed September 29, 2016 represented by: William C. Vidrine, Esq. VIDRINE & VIDRINE E-mail: williamv@vidrinelaw.com In re Brandon M. Ford Bankr. D. Md. Case No. 16-23025 Chapter 11 Petition filed September 29, 2016 represented by: Ronald J Drescher, Esq. Drescher & Associates E-mail: ecfdrescherlaw@gmail.com In re Robert Wayne Schlosser Bankr. D. Minn. Case No. 16-33039 Chapter 11 Petition filed September 29, 2016 represented by: Thomas H Olive, Esq. OLIVE TABER P.A. E-mail: tolive@oto-law.com In re DeMeo Enterprises, LLC Bankr. D.N.J. Case No. 16-28623 Chapter 11 Petition filed September 29, 2016 See http://bankrupt.com/misc/njb16-28623.pdf represented by: Paul N. Mirabelli, Esq. LAW OFFICE OF PAUL N. MIRABELLI E-mail: pmirabelli@verizon.net In re Allison Nemir Robinson Bankr. D. Nev. Case No. 16-51221 Chapter 11 Petition filed September 29, 2016 represented by: ALAN R SMITH, Esq. E-mail: mail@asmithlaw.com In re NYC Brook LLC Bankr. E.D.N.Y. Case No. 16-44353 Chapter 11 Petition filed September 29, 2016 See http://bankrupt.com/misc/nyeb16-44353.pdf represented by: David Carlebach, Esq. THE CARLEBACH LAW GROUP E-mail: david@carlebachlaw.com In re Booziotis & Company Bankr. N.D. Tex. Case No. 16-33798 Chapter 11 Petition filed September 29, 2016 See http://bankrupt.com/misc/txnb16-33798.pdf represented by: Jason Patrick Kathman, Esq. PRONSKE GOOLSBY & KATHMAN, P.C. E-mail: jkathman@pgkpc.com In re Fanous Jewelers, Inc. Bankr. N.D. Tex. Case No. 16-33806 Chapter 11 Petition filed September 29, 2016 See http://bankrupt.com/misc/txnb16-33806.pdf represented by: Eric A. Liepins, Esq. ERIC A. LIEPINS, P.C. E-mail: eric@ealpc.com In re Etta Hindra Bankr. C.D. Cal. Case No. 16-23092 Chapter 11 Petition filed October 3, 2016 See http://bankrupt.com/misc/cacb16-14130.pdf Filed Pro Se In re Robin Elaine Wilson Bankr. N.D. Cal. Case No. 16-31073 Chapter 11 Petition filed October 3, 2016 represented by: Darya Sara Druch, Esq. LAW OFFICES OF DARYA SARA DRUCH E-mail: ecf@daryalaw.com In re Jonathan B. Boothe and Mary E Boothe Bankr. S.D. Ga. Case No. 16-41554 Chapter 11 Petition filed October 3, 2016 represented by: J. Michael Hall, Esq. HALL LAW GROUP, PC E-mail: mhall@hlg-pc.com In re Sam Bass Illustration & Design, Inc. Bankr. M.D.N.C. Case No. 16-51021 Chapter 11 Petition filed October 3, 2016 See http://bankrupt.com/misc/ncmb16-51021.pdf represented by: Kristen Scott Nardone, Esq. DAVIS NARDONE, PC E-mail: kristen@davisnardone.com In re 362 Route 108 Realty Trust Bankr. D.N.H. Case No. 16-11405 Chapter 11 Petition filed October 3, 2016 See http://bankrupt.com/misc/nhb16-11405.pdf represented by: William S. Gannon, Esq. WILLIAM S. GANNON PLLC E-mail: bgannon@gannonlawfirm.com In re Creative BGRS. Inc. d/b/a Burger Kin Bankr. S.D.N.Y. Case No. 16-12787 Chapter 11 Petition filed October 3, 2016 See http://bankrupt.com/misc/nysb16-12787.pdf represented by: Scott Anthony Griffin, Esq. GRIFFIN HAMERSKY LLP E-mail: sgriffin@grifflegal.com In re North Wasatch Treatment Center, Inc. Bankr. D. Utah Case No. 16-28732 Chapter 11 Petition filed October 3, 2016 See http://bankrupt.com/misc/utb16-28732.pdf represented by: Charles Parson, Esq. THE PARSON GROUP, LP E-mail: charles@theparsongroup.com In re Alan D. Howard Bankr. E.D. Va. Case No. 16-13358 Chapter 11 Petition filed October 3, 2016 represented by: Robert Easterling, Esq. E-mail: eastlaw@easterlinglaw.com In re 3PAS, Inc. Bankr. C.D. Cal. Case No. 16-14130 Chapter 11 Petition filed October 4, 2016 See http://bankrupt.com/misc/cacb16-14130.pdf represented by: Thomas J Polis, Esq. POLIS & ASSOCIATES, APLC E-mail: ecf@polis-law.com In re Matthew Edward Wiltsey Bankr. C.D. Cal. Case No. 16-23170 Chapter 11 Petition filed October 4, 2016 represented by: Daren M Schlecter, Esq. Law Office of Daren M Schlecter E-mail: daren@schlecterlaw.com In re Bonicella V. Colet Bankr. N.D. Cal. Case No. 16-52853 Chapter 11 Petition filed October 4, 2016 represented by: Lars T. Fuller, Esq. THE FULLER LAW FIRM E-mail: Fullerlawfirmecf@aol.com In re Aqeel A. Mirza and Aisha M. Mirza Bankr. M.D. Fla. Case No. 16-06577 Chapter 11 Petition filed October 4, 2016 represented by: Buddy D. Ford, Esq. BUDDY D. FORD, P.A. E-mail: Buddy@TampaEsq.com In re Charles Calvin Butler Bankr. N.D. Fla. Case No. 16-50267 Chapter 11 Petition filed October 4, 2016 represented by: Charles M. Wynn, Esq. CHARLES M. WYNN LAW OFFICES, P.A. E-mail: candy@wynnlaw-fl.com In re American Classic Clothes, LLC Bankr. D. Md. Case No. 16-23310 Chapter 11 Petition filed October 4, 2016 See http://bankrupt.com/misc/mdb16-23310.pdf represented by: Richard B. Rosenblatt, Esq. THE LAW OFFICES OF RICHARD B. ROSENBLATT E-mail: rbrbankruptcy@gmail.com In re T.R. Trucking, Inc., A New Mexico Corporation Bankr. D.N.M. Case No. 16-12480 Chapter 11 Petition filed October 4, 2016 See http://bankrupt.com/misc/nmb16-12480.pdf represented by: Gerald R Velarde, Esq. LAW OFFICE OF GERALD R. VELARDE, PC E-mail: velardepc@hotmail.com In re James Community Funeral Home, Inc. Bankr. D.S.C. Case No. 16-05083 Chapter 11 Petition filed October 4, 2016 See http://bankrupt.com/misc/scb16-05083.pdf represented by: Reid B. Smith, Esq. BIRD AND SMITH, PA E-mail: rsmith@birdsmithlaw.com In re Scott Anthony Van Nieuwenhuyzen and Denise Marie Van Nieuwenhuyzen Bankr. M.D. Tenn. Case No. 16-07130 Chapter 11 Petition filed October 4, 2016 represented by: Steven L. Lefkovitz, Esq. LAW OFFICES LEFKOVITZ & LEFKOVITZ E-mail: slefkovitz@lefkovitz.com In re KSP Properties, LLC Bankr. W.D. Tex. Case No. 16-52291 Chapter 11 Petition filed October 4, 2016 See http://bankrupt.com/misc/txwb16-52291.pdf represented by: David T. Cain, Esq. LAW OFFICE OF DAVID T. CAIN E-mail: caindt@swbell.net In re Bryan D. Anderson and Anita G. Anderson Bankr. E.D. Va. Case No. 16-73434 Chapter 11 Petition filed October 4, 2016 represented by: W. Greer McCreedy, II, Esq. THE MCCREEDY LAW GROUP, PLLC E-mail: McCreedy@McCreedylaw.com In re Double Vision Inc dba Visions Day Spa Bankr. S.D.W. Va. Case No. 16-20560 Chapter 11 Petition filed October 4, 2016 See http://bankrupt.com/misc/wvsb16-20560.pdf represented by: Andrew S. Nason, Esq. PEPPER & NASON E-mail: andyn@peppernason.com In re SNB Development Holdings, LLC Bankr. N.D. Cal. Case No. 16-42788 Chapter 11 Petition filed October 5, 2016 See http://bankrupt.com/misc/canb16-42788.pdf represented by: Darya Sara Druch, Esq. LAW OFFICES OF DARYA SARA DRUCH E-mail: ecf@daryalaw.com In re Norma M Martinez and Enrique A. Lopez Bankr. D. Nev. Case No. 16-15412 Chapter 11 Petition filed October 5, 2016 represented by: Michael J. Harker, Esq. E-mail: notices@harkerlawfirm.com In re Federico Frazer Bankr. E.D.N.Y. Case No. 16-44497 Chapter 11 Petition filed October 5, 2016 represented by: Dominic S Rizzo, Esq. E-mail: dom@dsrizzo.com In re 1389S Development Inc. Bankr. E.D.N.Y. Case No. 16-44509 Chapter 11 Petition filed October 5, 2016 See http://bankrupt.com/misc/nyeb16-44509.pdf Filed Pro Se In re Markets & Fun, LLC Bankr. D.P.R. Case No. 16-08010 Chapter 11 Petition filed October 5, 2016 See http://bankrupt.com/misc/prb16-08010.pdf represented by: Myrna L Ruiz Olmo, Esq. MRO ATTORNEYS AT LAW, LLC E-mail: mro@prbankruptcy.com In re Nicholson Management Company Inc. Bankr. E.D. Tenn. Case No. 16-32970 Chapter 11 Petition filed October 5, 2016 See http://bankrupt.com/misc/tneb16-32970.pdf represented by: William E. Maddox, Jr., Esq. William E. Maddox, Jr., LLC E-mail: wem@billmaddoxlaw.com In re Christopher Cole Jones Bankr. M.D. Tenn. Case No. 16-07167 Chapter 11 Petition filed October 5, 2016 represented by: E. Covington Johnston, Esq. JOHNSTON & STREET E-mail: ecjohnston@johnstonandstreet.com In re US Rave, Inc. Bankr. E.D. Tex. Case No. 16-41835 Chapter 11 Petition filed October 5, 2016 See http://bankrupt.com/misc/txeb16-41835.pdf represented by: Eric A. Liepins, Esq. ERIC A. LIEPINS P.C. E-mail: eric@ealpc.com In re A Roanoke Development Corp Bankr. W.D. Va. Case No. 16-71316 Chapter 11 Petition filed October 5, 2016 See http://bankrupt.com/misc/vawb16-71316.pdf Filed Pro Se In re Wildwood Crest LLC Bankr. W.D. Wash. Case No. 16-44155 Chapter 11 Petition filed October 5, 2016 See http://bankrupt.com/misc/wawb16-44155.pdf represented by: Larry B. Feinstein, Esq. VORTMAN & FEINSTEIN E-mail: feinstein1947@gmail.com In re Joseph E. Pole Bankr. D. Ariz. Case No. 16-11522 Chapter 11 Petition filed October 6, 2016 represented by: Dean William O'Connor, Esq. DEAN W. O'CONNOR PLLC E-mail: dean@dean-oconnor.com In re Too Fast Apparel, LLC Bankr. D.N.J. Case No. 16-29175 Chapter 11 Petition filed October 6, 2016 See http://bankrupt.com/misc/njb16-29175.pdf represented by: Ira Deiches, Esq. DEICHES & FERSCHMANN E-mail: ideiches@deicheslaw.com In re Harrison E Smith, Jr. Bankr. D.N.M. Case No. 16-12493 Chapter 11 Petition filed October 6, 2016 represented by: Erika Poindexter, Esq. E-mail: erika@erikapoindexter.com In re Richard Schragger Bankr. E.D.N.Y. Case No. 16-44532 Chapter 11 Petition filed October 6, 2016 represented by: Lawrence Morrison, Esq. E-mail: lmorrison@m-t-law.com In re Lettman Munroe Bankr. E.D.N.Y. Case No. 16-44536 Chapter 11 Petition filed October 6, 2016 represented by: Nigel E Blackman, Esq. BLACKMAN & MELVILLE, PC E-mail: nigel@bmlawonline.com In re Empresas Alvaro Torres Corp. Bankr. D.P.R. Case No. 16-08029 Chapter 11 Petition filed October 6, 2016 See http://bankrupt.com/misc/prb16-08029.pdf represented by: Luis D Flores Gonzalez, Esq. LUIS D FLORES GONZALEZ LAW OFFICE E-mail: ldfglaw@coqui.net In re Alexandra Trivia Sebik Bankr. W.D. Wash. Case No. 16-15087 Chapter 11 Petition filed October 6, 2016 represented by: Larry B. Feinstein, Esq. VORTMAN & FEINSTEIN E-mail: feinstein1947@gmail.com In re Steve Pandi and Eileen A. Quezada Bankr. D. Ariz. Case No. 16-11585 Chapter 11 Petition filed October 7, 2016 represented by: Andrew M Ellis, Esq. ANDREW M. ELLIS LAW, PLLC E-mail: AME@AMEllisLaw.com In re Statewide Utility Construction, Inc. Bankr. C.D. Cal. Case No. 16-18986 Chapter 11 Petition filed October 7, 2016 See http://bankrupt.com/misc/cacb16-18986.pdf represented by: Andrew S. Bisom, Esq. THE BISOM LAW GROUP E-mail: abisom@bisomlaw.com In re Fairview Farms, LLC Bankr. D. Conn. Case No. 16-21648 Chapter 11 Petition filed October 7, 2016 See http://bankrupt.com/misc/ctb16-21648.pdf Filed Pro Se In re Crisp-N-Clean of Evergreen Park, Inc. Bankr. N.D. Ill. Case No. 16-32052 Chapter 11 Petition filed October 7, 2016 See http://bankrupt.com/misc/ilnb16-32052.pdf represented by: John F Hiltz, Esq. HILTZ & ZANZIG LLC E-mail: jhiltz@hzlawgroup.com In re 0to60 LLC Bankr. D. Mass. Case No. 16-13874 Chapter 11 Petition filed October 7, 2016 See http://bankrupt.com/misc/mab16-13874.pdf Filed Pro Se In re DRT Heel, LLC Bankr. W.D.N.C. Case No. 16-31643 Chapter 11 Petition filed October 7, 2016 See http://bankrupt.com/misc/njb16-31643.pdf represented by: R. Keith Johnson, Esq. LAW OFFICES OF R. KEITH JOHNSON, P.A. E-mail: rkjpa@bellsouth.net In re Won Family Community Market & Deli LLC Bankr. D.N.J. Case No. 16-29203 Chapter 11 Petition filed October 7, 2016 See http://bankrupt.com/misc/njb16-29203.pdf represented by: Lindal Scott Foster, Esq. LAW OFFICES OF LINDAL SCOTT FOSTER E-mail: lscottfoster@scottfosterlaw.com In re Renaissance Development LLC Bankr. D.N.J. Case No. 16-29215 Chapter 11 Petition filed October 7, 2016 See http://bankrupt.com/misc/njb16-29215.pdf represented by: John P. Di Iorio, Esq. SHAPIRO CROLAND REISER APFEL & DI IORIO E-mail: jdiiorio@shapiro-croland.com In re JMG Restaurant Corp. Bankr. D.N.J. Case No. 16-29278 Chapter 11 Petition filed October 7, 2016 See http://bankrupt.com/misc/njb16-29278.pdf represented by: Lawrence F. Morrison, Esq. LAW OFFICES OF LINDAL SCOTT FOSTER E-mail: l.scottfoster@aol.com In re 1317 Restaurant Co, LLC Bankr. D.N.J. Case No. 16-29279 Chapter 11 Petition filed October 7, 2016 See http://bankrupt.com/misc/njb16-29279.pdf represented by: Lawrence F. Morrison, Esq. MORRISON TENENBAUM PLLC E-mail: morrlaw@aol.com In re 74 Firwood Road Associates, LLC Bankr. E.D.N.Y. Case No. 16-74652 Chapter 11 Petition filed October 7, 2016 See http://bankrupt.com/misc/nyeb16-74652.pdf Filed Pro Se In re TVR, Inc. Bankr. M.D. Pa. Case No. 16-04183 Chapter 11 Petition filed October 7, 2016 See http://bankrupt.com/misc/pamb16-04183.pdf represented by: John Fisher, Esq. E-mail: johnvfisher@yahoo.com In re Puertas De Garaje Rivera Inc. Bankr. D.P.R. Case No. 16-08068 Chapter 11 Petition filed October 7, 2016 See http://bankrupt.com/misc/prb16-08068.pdf represented by: Jesus Enrique Batista Sanchez, Esq. THE BATISTA LAW GROUP, PSC E-mail: jesus.batista@batistalawgroup.com In re Joisca Santiago Matias Bankr. D.P.R. Case No. 16-08070 Chapter 11 Petition filed October 7, 2016 represented by: Angel Miguel Roman Ongay, Esq. E-mail: mitchroman@hotmail.com In re Darrall A Griffin Bankr. E.D. Va. Case No. 16-13433 Chapter 11 Petition filed October 9, 2016 represented by: Daniel M. Press, Esq. CHUNG & PRESS, P.C E-mail: dpress@chung-press.com ********* Monday's edition of the TCR delivers a list of indicative prices for bond issues that reportedly trade well below par. Prices are obtained by TCR editors from a variety of outside sources during the prior week we think are reliable. Those sources may not, however, be complete or accurate. The Monday Bond Pricing table is compiled on the Friday prior to publication. Prices reported are not intended to reflect actual trades. Prices for actual trades are probably different. Our objective is to share information, not make markets in publicly traded securities. Nothing in the TCR constitutes an offer or solicitation to buy or sell any security of any kind. It is likely that some entity affiliated with a TCR editor holds some position in the issuers public debt and equity securities about which we report. Each Tuesday edition of the TCR contains a list of companies with insolvent balance sheets whose shares trade higher than $3 per share in public markets. At first glance, this list may look like the definitive compilation of stocks that are ideal to sell short. Don't be fooled. Assets, for example, reported at historical cost net of depreciation may understate the true value of a firm's assets. A company may establish reserves on its balance sheet for liabilities that may never materialize. The prices at which equity securities trade in public market are determined by more than a balance sheet solvency test. On Thursdays, the TCR delivers a list of recently filed Chapter 11 cases involving less than $1,000,000 in assets and liabilities delivered to nation's bankruptcy courts. The list includes links to freely downloadable images of these small-dollar petitions in Acrobat PDF format. Each Friday's edition of the TCR includes a review about a book of interest to troubled company professionals. All titles are available at your local bookstore or through Amazon.com. Go to http://www.bankrupt.com/books/to order any title today. Monthly Operating Reports are summarized in every Saturday edition of the TCR. The Sunday TCR delivers securitization rating news from the week then-ending. TCR subscribers have free access to our on-line news archive. Point your Web browser to http://TCRresources.bankrupt.com/and use the e-mail address to which your TCR is delivered to login. ********* S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter is a daily newsletter co-published by Bankruptcy Creditors Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA. Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog, Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa, Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors. Copyright 2016. All rights reserved. ISSN: 1520-9474. This material is copyrighted and any commercial use, resale or publication in any form (including e-mail forwarding, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. The TCR subscription rate is $975 for 6 months delivered via e-mail. Additional e-mail subscriptions for members of the same firm for the term of the initial subscription or balance thereof are $25 each. For subscription information, contact Peter A. Chapman at 215-945-7000 or Nina Novak at 202-362-8552. *** End of Transmission ***