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/raid1/www/Hosts/bankrupt/TCR_Public/170902.mbx T R O U B L E D C O M P A N Y R E P O R T E R Saturday, September 2, 2017, Vol. 21, No. 244 Headlines KATY INDUSTRIES: Posts $921,395 Net Loss at June 30 TERRAVIA HOLDINGS: Files Initial Monthly Operating Report TIDEWATER INC: Net Loss Decreases to $36.09 Million in July ********* KATY INDUSTRIES: Posts $921,395 Net Loss at June 30 --------------------------------------------------- Katy Industries, Inc., et al., filed with the U.S. Securities and Exchange Commission their monthly operating report for the period from May 27, 2017 through June 30, 2017. The Debtors' consolidated statement of operations showed a net loss of $921,395 on net sales of $6,672,872 for June, a slight decrease from $1,045,312 net loss recorded for the previous period. At June 30, 2017, the Debtors had $90.98 million in total assets, $101.78 million in total liabilities, and -$10.80 million in total shareholders equity. At the beginning of the month, the Debtors had a $5.13 million beginning cash balance. They listed total receipts of $7.69 million and total disbursements of $6.70 million. Disbursements include 35,000 in professional fees. The Debtors ended the month with $6.16 million cash. A copy of the monthly operating report is available at the SEC at: https://is.gd/JZpRfx About Katy Industries Katy Industries, Inc. -- http://www.katyindustries.com/-- a publicly traded Delaware corporation, and its wholly-owned direct and indirect subsidiaries ("Company"), were organized as a Delaware corporation in 1967. The Company is a well-known manufacturer, importer, and distributor of commercial cleaning and consumer storage products as well as a contract manufacturer of structural foam products. It distributes its products across the United States and Canada. It is best known for such brands as Continental, Huskee, Color Guard, Wilen, Muscle Mop, Contico, Tuffbin, and SilverWolf, among many others. The Company operates three manufacturing facilities located in Jefferson City, Missouri, Tiffin, Ohio, and Fort Wayne, Indiana, with its corporate headquarters located in St. Louis, Missouri. Katy Industries, Inc., and its affiliates filed a voluntary petition for relief under the Bankruptcy Code (Bankr. D. Del. Lead Case No. 17-11101) on May 14, 2017. The petitions were signed by Lawrence Perkins, chief restructuring officer. Katy Industries disclosed $821,321 in assets and $58,421,346 in liabilities. Stuart M. Brown, Esq., at DLA Piper LLP (US) represent the Debtors as bankruptcy counsel. The Debtors hired JND Corporate Restructuring as their claims and noticing agent. On July 31, 2017, the Office of the U.S. Trustee formed a committee of retirees. TERRAVIA HOLDINGS: Files Initial Monthly Operating Report --------------------------------------------------------- TerraVia Holdings, Inc., et al., filed with the U.S. Securities and Exchange Commission an initial monthly operating report. The Debtors' Initial MOR includes a cash flow projection for the 3-quarter period covering the third quarter of 2017 through the first quarter of 2018. TerraVia Holdings projects to have ending cash of $7 million at the end of the third quarter of 2017. The Initial MOR also includes a schedule of retainers paid to professionals in June and July 2017. Among the Debtors' bankruptcy professionals are Kurtzman Carson Consultants LLC, Richards, Layton & Finger, and Davis Polk & Wardwell LLP. A copy of the initial monthly operating report is available at: https://is.gd/oluKrz About TerraVia Headquartered in South San Francisco, California, TerraVia Holdings, Inc. (NASDAQ:TVIA) -- http://www.terravia.com/-- is a plant-based food, nutrition and specialty ingredients company that harnesses the power of algae, the mother of all plants and earth's original superfood. TerraVia also manufactures a range of specialty personal care ingredients for key strategic partners. On Aug. 2, 2017, TerraVia Holdings, Inc., and its wholly owned U.S. subsidiaries filed voluntary petitions under chapter 11 of title 11 of the United States Code (Bankr. D. Del. Lead Case No. 17-11655). The subsidiary debtors in the Chapter 11 cases are Solazyme Brazil LLC and Solazyme Manufacturing 1, LLC. The Debtors sought bankruptcy protection after reaching a deal to sell the assets to Corbion N.V. for $20 million in cash plus the assumption of liabilities. The Debtors hired Davis Polk & Wardwell LLP as their lead counsel and Richards, Layton & Finger, P.A., as co-counsel. Kurtzman Carson Consultants LLC is their claims agent. The Office of the U.S. Trustee on August 11 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of TerraVia Holdings, Inc. TIDEWATER INC: Net Loss Decreases to $36.09 Million in July ----------------------------------------------------------- Tidewater, Inc., et al., filed with the U.S. Securities and Exchange Commission their monthly operating report for July 2017. The Debtors' consolidated statement of operations showed a net loss of $36.09 million on $36.11 million of revenue for July, as compared to $430.05 million net loss reported for June. As of July 31, 2017, the Debtors listed $3.77 billion in consolidated total assets, $2.68 billion in consolidated total liabilities, and $1.09 billion in consolidated total shareholders' equity. At July 1, 2017, the Debtors had $18.05 million beginning cash balance. They listed total cash receipts of $21.08 million and total cash disbursements of $136.42 million. Taking into account net intercompany transfer activity of $535.79 million, the Debtors had $438.50 million ending cash balance at July 31, 2017. A copy of the monthly operating report is available at the SEC at: https://is.gd/SHSv6x About Tidewater Inc. Founded in 1955, Tidewater, Inc. (NYSE: TDW) is a publicly traded international petroleum service company headquartered in New Orleans, Louisiana, U.S. It operates a fleet of ships, providing vessels and marine services to the offshore petroleum industry. Tidewater Inc. and its affiliates sought Chapter 11 bankruptcy protection (Bankr. D. Del. Lead Case No. 17-11132) on May 17, 2017. The petitions were signed by Bruce Lundstrom, executive vice president, general counsel and secretary. Tidewater, Inc., disclosed $4.31 billion in total assets and $2.34 billion in debt as of Dec. 31, 2016. The Debtors tapped Weil, Gotshal & Manges LLP as counsel; Richards, Layton & Finger, P.A., as co-counsel; Jones Walker LLP, as corporate counsel; AlixPartners, LLP, as financial advisors; Lazard Freres & Co. LLC, as investment banker; KPMG LLP, as restructuring tax consultant; Deloitte & Touche LLP as auditor and tax consultant; Ernst & Young as tax advisor; and Epiq Bankruptcy Solutions, LLC, as administrative advisors, and claims and solicitation agent. An unofficial committee of noteholders of Tidewater Inc., et al., has retained Paul, Weiss, Rifkind, Wharton & Garrison LLP, as restructuring counsel, and Blank Rome LLP, as maritime counsel in connection with restructuring discussions. Andrew R. Vara, Acting U.S. Trustee for Region 3, on June 20, 2017, appointed three creditors to serve on the committee of equity security holders; and three creditors to serve on the official committee of unsecured creditors. Counsel to the Equity Committee are Saul Ewing LLP and Brown Rudnick LLP. The Equity Committee retained Miller Buckfire & Co., LLC, as financial advisor and investment banker. Lawyers at Whiteford, Taylor & Preston LLC represent the Unsecured Creditors Committee. ********* 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 2017. 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 ***