/raid1/www/Hosts/bankrupt/TCR

/raid1/www/Hosts/bankrupt/TCR_Public/180829.mbx T R O U B L E D C O M P A N Y R E P O R T E R Wednesday, August 29, 2018, Vol. 22, No. 240 Headlines 119 THAMES: Taps Joseph J. D'Agostino as Legal Counsel 160 ROYAL PALM: U.S. Trustee Unable to Appoint Committee A'GACI LLC: Second Avenue Provides $12-Mil. Exit Financing ACE HOLDING: Hires Dribusch Law Firm as Counsel AMERICAN FORKLIFT: U.S. Trustee Unable to Appoint Committee AMYRIS INC: Foris Ventures Has 11.4% Stake as of Aug. 17 APPVION OPERATIONS: S&P Raises ICR to 'B', Outlook Stable ARALEZ PHARMACEUTICALS: U.S. Trustee Forms 5-Member Committee ARCHER NORRIS: August 28 Meeting Set to Form Creditors' Panel ASPEN LAKES: Seeks to Hire The Mountain Group as Consultant BANGY TAXICAB: Taps Alla Kachan as Legal Counsel BAYOU HAVEN: Retains Katarina Pekarik as Kitchen Manager BENCHMARK ELECTRONICS: S&P Alters Outlook to Neg & Affirms BB ICR BIG APPLE: Case Summary & 20 Largest Unsecured Creditors BLACK BOX: Closes Sale of Its Federal Government IT Services Biz. BLUE COPPER: U.S. Trustee Unable to Appoint Committee BRADER FAMILY: U.S. Trustee Unable to Appoint Committee CELL SCIENCE: U.S. Trustee Unable to Appoint Committee CITATION NORTHSTAR: Taps Allen Barnes as Legal Counsel CITATION NORTHSTAR: Taps World Tax Partners as Accountant CITGO HOLDING: S&P Cuts Sec. Debt Rating to B on Decreased Leverage CURAE HEALTH: Hires BMC Group, Inc. as Claims & Noticing Agent CURAE HEALTH: Hires GlassRatner Advisory as Financial Advisor CURAE HEALTH: Russellville Hospital Not Part of Bankruptcy Filing CURAE HEALTH: Sends Three Hospitals to Chapter 11 CURAE HEALTH: Taps Egerton McAfee as Special Transactional Counsel DAVIES CONSULTANTS: Case Summary & 6 Unsecured Creditors DRW SERVICES: Taps Schoenberg Finkel Newman as Special Counsel EDP GROUP: Trustee Taps Joseph A. Broderick as Accountant EDP GROUP: Trustee Taps Windels Marx as Legal Counsel ENERGY GUARD: U.S. Trustee Forms 3-Member Committee EXCO RESOURCES: Exclusivity Extended Until Oct. 15 EXCO RESOURCES: Property Assignment to Rockcliff Approved FIRESTAR DIAMOND: Court OKs Incentive for Non-Insider Employees FIRESTAR DIAMOND: Debtor Allocation of Getzler Henrich Pay Okayed FIRESTAR DIAMOND: Navy Exchange Inventory Sold at 48% Cost Value FIRESTAR DIAMOND: Seeks to Sell Assets FIRSTENERGY SOLUTIONS: Enters Into Agreement with Key Parties FISHERMAN'S PIER: Court Confirms 2nd Amended Plan GNC HOLDINGS: Okays $50,000 Incremental Retainer for Lead Director GREENWOOD FOREST: Taps Pamela Magee as Legal Counsel GT REALTY: Taps Backenroth Frankel as Legal Counsel GUMP'S HOLDINGS: Taps Lincoln Partners as Financial Advisor HIALEAH 150: U.S. Trustee Unable to Appoint Committee HIGH TIMES: Hires Lugo Mender Group LLC as Attorney HOOPER HOLMES: Files for Chapter 11 to Sell to Summit for $27M J CREW GROUP: Reports $6 Million Net Loss for Second Quarter J MENDEL INC: Hires Platzer Swergold as Legal Counsel JDHG LLC: Monthly Payment to Unsecureds Increased to $2,370 KEELER'S MEDICAL: Oct. 4 Plan Confirmation Hearing KINGDOM GOURMET: Taps Margaret McClure as Bankruptcy Attorney L BRANDS: S&P Cuts Issuer Credit Rating to 'BB', Outlook Negative LAND DYNAMICS: Taps Angstman Johnson as Legal Counsel LANE-GLO BOWL: Hires Overbeck CPA as Accountant MARK A ELLIS: Taps W. Thomas Bible as Legal Counsel MIKES AUTOBODY: U.S. Trustee Forms 3-Member Committee MONEYONMOBILE INC: Withdraws Form 15 Deregistration Notice MORAN FOODS: Moody's Cuts CFR & Sr. Sec. Term Loan Rating to 'B3' NAVILLUS TILE: Unsecureds Estimated to Recover 9% Under New Plan NMSOOH INC: Taps Margolin Winer as Accountant NORTHERN OIL: Stockholders Elected 8 Directors NORTHERN POWER: Robert Lentz Resigns as Director OGHI LLC: U.S. Trustee Unable to Appoint Committee PACIFIC DRILLING: Court Approves $1.5-Bil. Exit Financing PACIFIC DRILLING: Exclusive Plan Filing Extended Thru Oct. 29 PACIFIC DRILLING: U.S. Trustee Appoints Unsecured Creditors Panel PACIFIC DRILLING: U.S. Trustee Forms 3-Member Committee PHILADELPHIA HEALTH: Hires Jackson Lewis, P.C. as Labor Counsel PIONEER ENERGY: Provides Operations & Recent Developments Update RAJYSAN INC: Taps Squar Milner as Accountant RIO MALL: U.S. Trustee Unable to Appoint Committee ROCKPORT COMPANY: Seeks to Amend Case Caption to New Corp. Name ROCKPORT COMPANY: Updates on Supplemental Purchased Contracts List SAMUELS JEWELERS: Seeks Approval of Key Employee Pay Programs SANCILIO PHARMACEUTICAL: Committee Taps Drinker Biddle as Counsel SANCILIO PHARMACEUTICAL: Panel Taps Emerald as Financial Advisor SEARS HOLDINGS: Fairholme Capital Has 11% Stake as of Aug. 21 SEVEN STARS: Incurs $8.6 Million Net Loss in Second Quarter SOUTH PLAZA CENTER: Hires Yockey & Associates as Accountant SOUTHERN MISSISSIPPI FUNERAL: Taps Sheehan Law Firm as Counsel STONINGTON CAPITAL: Taps Coffey & Associates as Special Counsel STRAUSS COMPANY: Taps Farinash & Stofan as Legal Counsel STRIDE ACADEMY, MN: S&P Cuts Rating on 2016A Lease Bonds to 'CC' THAMES VIEW: Taps Joseph J. D'Agostino as Legal Counsel TOYS R US: Toys Delaware, Geoffrey Debtors File Wind-Down Plan VCVH HOLDING: S&P Hikes Corp Credit Rating to 'B', Outlook Stable W.P.I.P. INC: Trustee Taps Nusinov Smith as Special Counsel WOODBRIDGE GROUP: Oct. 24 Plan Confirmation Hearing [*] Armory Bags Insolvency Restructuring Firm of the Year Award [*] Discounted Tickets for 2018 Distressed Investing Conference! [*] myCUmortgage(R) Hires Schlegel as New Default Services Director ********* 119 THAMES: Taps Joseph J. D'Agostino as Legal Counsel ------------------------------------------------------ 119 Thames LLC seeks approval from the U.S. Bankruptcy Court for the District of Connecticut to hire Attorney Joseph J. D'Agostino, Jr., LLC as its legal counsel. The firm will advise the Debtor regarding its duties under the Bankruptcy Code; assist in its financial transactions and in the preparation of a plan of reorganization; and provide other legal services related to its Chapter 11 case. The firm will charge these hourly rates: Joseph D'Agostino, Jr., Esq. $350 Support Staff $100 Prior to the petition date, D'Agostino received a retainer of $2,500, plus $1,717 for the filing fee. D'Agostino is "disinterested" as defined in section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached through: Joseph J. D'Agostino, Jr., Esq. Attorney Joseph J. D'Agostino, Jr., LLC 1062 Barnes Road, Suite 108 Wallingford, CT 06492 Tel: (203) 265-5222 Fax: 203-265-5236 Email: joseph@lawjjd.com About 119 Thames LLC 119 Thames LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Conn. Case No. 18-21359) on August 19, 2018. In the petition signed by Erik Matilla, managing member, the Debtor disclosed $2,550,500 in assets and $720,413 in liabilities. Judge James J. Tancredi presides over the case. 160 ROYAL PALM: U.S. Trustee Unable to Appoint Committee -------------------------------------------------------- No official committee of unsecured creditors has been appointed in the Chapter 11 case of 160 Royal Palm, LLC as of August 27, according to a court docket. About 160 Royal Palm 160 Royal Palm, LLC's principal asset is an abandoned construction project located at 160 Royal Palm Way in Palm Beach, Florida. The property is currently under state court receivership. 160 Royal Palm filed a voluntary petition for relief under chapter 11 of the United States Bankruptcy Code (Bankr. S.D. Fla. Case No. 18-19441) on Aug. 2, 2018. In the petition signed by Cary Glickstein, sole and exclusive manager, the Debtor disclosed $16,447,759 in total assets and $114,926,976 in total liabilities. Judge Erik P. Kimball is assigned to the case. Philip J. Landau, Esq., at Shraiberg, Landau & Page, P.A., is the Debtor's counsel. A'GACI LLC: Second Avenue Provides $12-Mil. Exit Financing ---------------------------------------------------------- Second Avenue Capital Partners, LLC, on Aug. 20, 2018, disclosed that it has provided a $12,000,000 revolving line of credit to A'GACI, LLC, a young women's lifestyle brand and fast fashion retailer. Proceeds from the credit facility will be used as exit financing, enabling A'GACI's emergence from bankruptcy. "We're proud to partner with A'GACI and help the company meet their growth objectives," said Chris O'Connor, President of Second Avenue Capital Partners. "The relationship we've formed with the team at A'GACI has enabled us to support their needs at this critical time." A'GACI has been an innovator in the fast fashion apparel industry for a number of years. Founded in 1971, San Antonio-based A'GACI developed a loyal customer base by offering affordable, trendy styles that reflect the feminine, confident style of today's young women. A'GACI will be led by managing partner David Won, who co-founded the Company with his brother John. Mr. Won is credited with putting together a sustainable plan that allowed for the survival of the Company, and the preservation of 1,500 jobs. A'GACI's exit from bankruptcy is seen as a rare success in today's uncertain retail sector. When discussing SACP, Mr. Won is enthusiastic. "Second Avenue Capital Partners was there when we needed them. They have a very different way of looking at things. It's their entrepreneurial approach and their merchant perspective that sets them apart from other lenders. Their retail connection was important to us. SACP could see our vision for the future, and they valued it." "All retailers today face a challenging environment," said Mark Gallivan, Managing Director of Second Avenue Capital Partners. "With A'GACI, we saw an organization that took positive steps to position itself for success. We wanted to be a part of A'GACI's next chapter, and we're very pleased they chose us to support their new efforts." About Second Avenue Capital Partners Second Avenue Capital Partners, LLC (SACP) -- http://www.secondavecp.com-- a Schottenstein Affiliate, is a finance company specializing in asset-based loans for the broader retail and consumer products industry. Focused on serving middle-market companies, it leverages the experience of retail operators, product merchants, and lenders to provide an array of customized, capital solutions for businesses. Headquartered in Boston, Second Avenue Capital Partners also has offices in New York, Columbus, and Los Angeles. About A'GACI, L.L.C. Founded in San Antonio, Texas, A'GACI, L.L.C. -- http://www.agacistore.com/-- is a fast-fashion retailer of women's apparel and accessories. A'GACI attracts young, fashion-driven consumers through its value-pricing and frequent introductions of new and trendy merchandise. It operates specialty apparel and footwear stores under the A'GACI banner as well as a direct-to-consumer business comprised of its e-commerce Web site http://www.agacistore.com/Stores feature an assortment of tops, dresses, bottoms, jewelry, and accessories sold primarily under the Company's exclusive A'GACI label. In addition, the Company sells shoes under its sister brand labels of O'Shoes and Boutique Five. A'GACI, L.L.C., filed a Chapter 11 petition (Bankr. W.D. Tex. Case No. 18-50049) on Jan. 9, 2018. In the petition signed by manager David Won, the Debtor disclosed $82 million in total assets and $62 million in total liabilities as of Nov. 25, 2017. The company listed $37.3 million in assets and $54.7 million in liabilities in a February 2018 court filing, according to a San Antonio Express-News report. The case is assigned to Judge Ronald B. King. Haynes and Boone, LLP, serves as the Debtor's bankruptcy counsel; Berkeley Research Group, LLC is the financial advisor; and SSG Advisors, LLC, is the investment banker. Kurtzman Carson Consultants LLC, is the claims, noticing and balloting agent. No trustee, examiner or official committee of unsecured creditors has been appointed in the case. ACE HOLDING: Hires Dribusch Law Firm as Counsel ----------------------------------------------- Ace Holding, LLC, seeks authority from U.S. Bankruptcy Court for the Northern District of New York (Albany) to hire The Dribusch Law Firm as counsel to the Debtor. Professional services to be rendered by DLF are: a) attend meetings and negotiate with representatives of the parties in interest and advise and consult on the conduct of this case; b) assist the Debtor in its analysis of, and negotiations with, creditors or any third party concerning matters related to the reorganization of the Debtor; c) assist with the Debtor's investigation of the acts, conduct, assets, rights, liabilities and financial condition of the Debtor and of the operation of the Debtor's business; d) investigate, file and prosecute litigation on behalf of the Debtor, including but not limited to avoidance, preference, fraudulent transfer, and director/officer actions; e) advise the Debtor as necessary in connection with any proposed sales of the assets of the Debtor; f) advise the Debtor concerning any efforts by the Debtor or other parties to collect and to recover property for the benefit of the Debtor's estate; g) Represent the Debtor at hearings and other proceedings; h) assist the Debtor in analyzing the claims of the Debtor's creditors and in negotiation with such creditors; i) assist the Debtor in preparing pleadings and applications as may be necessary in furtherance of the Debtor's interests and objectives; j) assist the Debtor in analyzing the Debtor's pre- and post-petition relationships with creditors, equity interest holders, and other parties in interest; k) review and analyze applications, orders, statements of operations and schedules filed with the Court and advise the Debtor with respect to the same; and l) perform such other legal services as may be required and are deemed to be in the interests of the Debtor, in accordance with the Debtor's powers and duties as set forth in the Bankruptcy Code. DLF's will charge $325 per hour for attorneys and $125 for paralegals. DLF acknowledges the receipt of a $5,000 retainer fee and $1,717 filing fee. Christian H. Dribusch, Esq., owner in the firm of Dribusch Law Firm, attests that DLF does not represent any interest adverse to the Debtor, the creditors or other parties in interest in connection with this chapter 11 case and is a "disinterested person," as that term is defined in Bankruptcy Code 101(14). The counsel can be reached through: Christian H. Dribusch, Esq. THE DRIBUSCH LAW FIRM 1001 Glaz Street East Greenbush, NY 12061 Tel: 518-729-4331 About Ace Holding Rensselaer, New York-based Ace Holding LLC develops and owns real property consisting of a fully renovated mixed-use building at 147 South Pearl Street, and nine contiguous single family townhomes at 160 to 176 South Pearl Street in Albany, New York. The company filed second chapter 11 petition on April 11, 2008 (Bankr. N.D.N.Y. Case No. 08-11084). Judge Robert E. Littlefield Jr. presides over the case. Michael D. Assaf, Esq., at Assaf & Mackenzie represent the Debtor in its restructuring efforts. The Debtor's schedules showed total assets of $11,983,533 and total liabilities of $917,198. Ace Holding first filed chapter 11 petition on Aug. 31, 2007 (Bankr. N.D.N.Y. Case No. 07-12342). E. Lisa Tang, Esq., served as counsel to the Debtor in the case presided over by Judge Robert E. Littlefield Jr. AMERICAN FORKLIFT: U.S. Trustee Unable to Appoint Committee ----------------------------------------------------------- No official committee of unsecured creditors has been appointed in the Chapter 11 case of American Forklift Rental & Supply, LLC, as of Aug. 21, according to a court docket. About American Forklift American Forklift Rental & Supply, LLC -- https://www.americanforkliftrental.com/ -- specializes in forklift rentals for the Central Florida area including Orlando, Tampa, Lakeland, Orange County, Polk County, Lake County, and surrounding areas. It also offers new and used sales on a wide variety of forklifts. American Forklift sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 18-04155) on July 12, 2018. In the petition signed by Joseph Garcia, Jr., managing member, the Debtor estimated assets of $1 million to $10 million and liabilities of $1 million to $10 million. Judge Cynthia C. Jackson presides over the case. Melissa A. Youngman, Esq., in Altamonte Springs, Florida, serves as counsel to the Debtor. AMYRIS INC: Foris Ventures Has 11.4% Stake as of Aug. 17 -------------------------------------------------------- In a Schedule 13D/A filed with the Securities and Exchange Commission, these entities reported beneficial ownership of shares of common stock of Amyris, Inc. as of Aug. 17, 2018: Shares Percentage Beneficially of Reporting Person Owned Shares ---------------- ------------ ---------- Foris Ventures, LLC 7,146,225 11.40% The Vallejo Ventures Trust U/T/A 2/12/96 7,146,792 11.40% John L. Doerr 7,419,340 11.84% Ann Doerr 7,146,792 11.40% Barbara Hager 7,146,792 11.40% The percentages are based on a total of 62,671,892 shares of Common Stock outstanding, which amount consists of (i) 62,366,371 shares of Common Stock issued and outstanding, as reported by the Company in its Prospectus Supplement (Registration No. 333-219732) dated Aug. 17, 2018, and (ii) 305,521 shares of Common Stock issued or issuable to FV upon conversion or exercise of securities convertible into or exercisable for Common Stock within 60 days of Aug. 17, 2018. On Aug. 17, 2018, Foris Ventures (i) exercised its Cash Warrant in full to purchase 4,877,386 shares of Common Stock for $21,460,498, (ii) surrendered its Dilution Warrant to the Company for cancellation after exercising it in full to purchase 2,106,217 shares of Common Stock for $3,159.33 and (iii) simultaneously acquired the New Warrant to purchase 4,877,386 in exchange for FV exercising the Cash Warrant and Dilution Warrant for cash and surrendering the Dilution Warrant for cancellation. Foris Ventures used working capital to exercise the Dilution Warrant and the proceeds of the Underwritten Offering were used to exercise the Cash Warrant. Mr. Doerr's individual holdings and holdings of entities affiliated with him (not including FV) resulted from equity compensation grants made to him in his capacity as a director of the Company and from private placements, respectively. A full-text copy of the regulatory filing is available at: https://is.gd/6fssk5 About Amyris, Inc. Amyris, Inc., Emeryville, California, is an industrial biotechnology company that applies its technology platform to engineer, manufacture and sell natural, sustainably sourced products into the health & wellness, clean skincare, and flavors & fragrances markets. The Company's proven technology platform enables the Company to rapidly engineer microbes and use them as catalysts to metabolize renewable, plant-sourced sugars into large volume, high-value ingredients. The Company's biotechnology platform and industrial fermentation process replace existing complex and expensive manufacturing processes. The Company has successfully used its technology to develop and produce five distinct molecules at commercial volumes. The report from the Company's independent accounting firm KPMG LLP, the Company's auditor since 2017, on the consolidated financial statements for the year ended Dec. 31, 2017, includes an explanatory paragraph stating that the Company has suffered recurring losses from operations and has current debt service requirements that raise substantial doubt about its ability to continue as a going concern. Amyris incurred net losses of $72.32 million in 2017, $97.33 million in 2016 and $217.95 million in 2016. As of June 30, 2018, the Company had $118.65 million in total assets, $367.62 million in total liabilities, $5 million in mezzanine equity and a total stockholders' deficit of $253.97 million. APPVION OPERATIONS: S&P Raises ICR to 'B', Outlook Stable --------------------------------------------------------- S&P Global Ratings raised its issuer credit rating on Appleton, Wis.-based Appvion Operations Inc. to 'B' from 'D'. The outlook is stable. S&P said, "At the same time, we assigned our 'B+' issue-level rating to the company's $105 million senior secured first-lien term loan due 2026. Our recovery rating on the term loan is '2', which indicates our expectation for substantial recovery (70% to 90%; rounded estimate: 75%) in the event of default." The upgrade of Appvion reflects its emergence from bankruptcy as the company's reorganization plan was confirmed by the U.S. Bankruptcy Court on Aug. 14, 2018. The confirmation occurred subsequent to the court already approving the sale of substantially all of the company's assets to a group of its lenders. The stable outlook reflects the material reduction in debt related to the company's bankruptcy restructuring and our expectations of EBITDA of about $35 million by the end of 2018, improving to $50 million or higher in 2019 due to rising thermal paper volumes and lower chemical input costs. Consequently, S&P expects 2018 debt to EBITDA of about 3.7x and EBITDA interest coverage of about 2.5x. S&P said, "We could lower the rating over the next 12 months if gross margins decline in excess of 350 basis points, resulting in debt to EBITDA exceeding 4x and approaching 5x or if EBITDA interest coverage was sustained below 3x. This margin degradation could occur if the cost initiatives the company is implementing fail to offset unexpectedly higher input costs, or if commodity input costs spike again for a sustained period. Although not likely over the next year, we could also downgrade the company if its owners altered the current financial policy, resulting in increased debt leverage to finance shareholder returns or acquisitions. "We believe an upgrade is unlikely within the next 12 months given that 40% of the company's business is in secular decline. However, if debt to EBITDA stays below 2x and EBITDA interest coverage approaches 10x, we could raise the rating. This could occur if paper demand and pricing materially outperform our forecast such that EBITDA exceeds our expectations by at least 35%. We believe such a scenario could indicate sustainably better profitability from improved market fundamentals." ARALEZ PHARMACEUTICALS: U.S. Trustee Forms 5-Member Committee ------------------------------------------------------------- The U.S. Trustee for Region 2 on August 27 appointed five creditors to serve on the official committee of unsecured creditors in the Chapter 11 cases of Aralez Pharmaceuticals US Inc. and its affiliates. The committee members are: (1) AstraZeneca AB 151 85 Södertälje, Sweden Phone: 302.886.6931 Attn: Adiah Reid, Senior Counsel Email: Adiah.reid@astrazeneca.com (2) Greyhealth Group 200 Fifth Avenue, 5th Floor New York, New York 10010 Phone: 212.886.3435 Attn: George Liggett U.S. Chief Financial Officer Email: George.liggett@ghggroup.com (3) QPharma, Inc. 22 South Street Morristown, New Jersey 07960 Phone: 973.525.3137 Attn.: Jonathan C. Wright Chief Legal Officer Email: Jonathan.wright@qpharmacorp.com (4) Mr. Rigoberto A. Canal 888 Gainsway Road Yardley, Pennsylvania 19067 Phone: 786.395.2117 Email: rigocanal@gmail.com (5) Ms. Keira Collins 42 Capitol Place Rensselaer, New York 12144 Phone: 518.466.8393 Email: mkschroon@nycap.ess.com 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 Aralez Pharmaceuticals Aralez Pharmaceuticals Inc. -- http://www.aralez.com/-- is a specialty pharmaceutical company focused on delivering products to improve patients' lives by acquiring, developing and commercializing products in various specialty areas. The Company together with its affiliates filed for Chapter 11 protection on Aug. 10, 2018 (Bankr. S.D.N.Y. Lead Case No. 18-12425). The Debtor estimated assets and liabilities between $100 million and $500 million. The Hon. Martin Glenn presides over the Debtors' Chapter 11 cases. The Debtors engaged Paul V. Shalhoub, Esq., Robin Spigel, Esq., and Debra C. McElligott, Esq., of Willkie Farr & Gallagher LLP, as their counsel. The Debtors selected Prime Clerk LLC as their claims, noticing and solicitation agent. ARCHER NORRIS: August 28 Meeting Set to Form Creditors' Panel ------------------------------------------------------------- Tracy Hope Davis, Acting United States Trustee for Region 17, was suppose to hold an organizational meeting on August 28, 2018, at 1:00 p.m. in the bankruptcy case of Archer Norris. The meeting was to be held at: Office of the United States Trustee 450 Golden Gate Avenue, Suite 01‐5467 San Francisco, CA 94102 The sole purpose of the meeting will be to form a committee or committees of unsecured creditors in the Debtors' case. The organizational meeting is not the meeting of creditors pursuant to Section 341 of the Bankruptcy Code. A representative of the Debtor, however, may attend the Organizational Meeting, and provide background information regarding the bankruptcy cases. To increase participation in the Chapter 11 proceeding, Section 1102 of the Bankruptcy Code requires that the United States Trustee appoint a committee of unsecured creditors as soon as practicable. The Committee ordinarily consists of the persons, willing to serve, that hold the seven largest unsecured claims against the debtor of the kinds represented on the committee. Section 1103 of the Bankruptcy Code provides that the Committee may consult with the debtor, investigate the debtor and its business operations and participate in the formulation of a plan of reorganization. The Committee may also perform other services as are in the interests of the unsecured creditors whom it represents. About Archer Norris Archer Norris -- https://www.archernorris.com/ -- is a California professional corporation engaged in the practice of law. The firm has offices in San Francisco, Walnut Creek, Newport Beach, and Los Angeles. Archer Norris sought Chapter 11 protection (Bankr. N. D. Ca., Case No. 18-30924) on Aug. 22, 2018. The petition was signed by Douglas C. Strauss, president. Archer Norris has total estimated assets and liabilities of $1 million to $10 million each. The Debtor's counsel is Thomas A. Willoughby, Esq. of Felderstein Fitzgerald Willoughby & Pascuzzi LLP. ASPEN LAKES: Seeks to Hire The Mountain Group as Consultant ----------------------------------------------------------- Aspen Lakes Golf Course, LLC, and its debtor-affiliates seek authority from the U.S. Bankruptcy Court for the District of Oregon to employ The Mountain Group as their consultant to assist Debtors in managing their businesses, directing their affairs, negotiating with banks, assessing real estate holdings, improving their cash flow, and enhancing their overall business operations. The Mountain Group's hourly rates are: Kevin C. Adams $550 Greg Fowler $260 Brad Hathaway $200 Luke Thompson $135 The partners and associates of The Mountain Group do not have any connection with Debtors, its creditors, any other party in interest, or their respective attorneys or accountants, as stated in the Court filing. The consultant can be reached through: Kevin C. Adams THE MOUNTAIN GROUP PO Box 453 Camp Sherman, OR 97730 Tel: 541-595-2707 Fax: 541-595-2754 About Aspen Lakes Golf Course Aspen Lakes Golf Course -- https://www.aspenlakes.com/ -- is a privately owned, public golf course in Sisters, Oregon, owned by the Cyrus family. Wildhorse Meadows acts as Aspen Lakes' landlord. The Aspen Lakes facilities feature a 28,000 square foot clubhouse -- featuring a full service pro shop, bar, and a restaurant. Aspen Lakes is open 7 days a week, shop hours are 7 a.m. to 7 p.m. Aspen Lakes Golf Course, L.L.C., and two affiliates filed voluntary Chapter 11 bankruptcy petitions (Bankr. D. Ore. Lead Case No. 18-32265) on June 27, 2018. The affiliates are Aspen Investments, L.L.C. (Case No. 18-32266) and Wildhorse Meadows, LLC (Case No. 18-32267). Each of the Debtors disclosed $1 million to $10 million in both assets and liabilities. The petitions were signed by Matt Cyrus, managing member. The Hon. Trish M. Brown presides over the case. Perkins Coie LLP, led by Douglas R. Pahl, Esq., and Amir Gamliel, Esq., serves as the Debtors' bankruptcy counsel. BANGY TAXICAB: Taps Alla Kachan as Legal Counsel ------------------------------------------------ Bangy Taxicab Corp. seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to hire the Law Offices of Alla Kachan, P.C., as its legal counsel. The firm will assist the Debtor in the preparation of a plan of reorganization; represent the Debtor in negotiations with creditors; and provide other legal services related to its Chapter 11 case. The firm charges an hourly fee of $375 for the services of its attorneys. Clerks and paraprofessionals charge $175 per hour. The Debtor paid the firm an initial retainer of $14,000. Alla Kachan, Esq., disclosed in a court filing that his firm is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Alla Kachan, Esq. Law Offices of Alla Kachan, P.C. 3099 Coney Island Avenue Brooklyn, NY 11235 Tel: (718) 513-3145 Email: alla@kachanlaw.com About Bangy Taxicab Corp. Bangy Taxicab, Corp. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 18-44530) on Aug. 3, 2018. At the time of the filing, the Debtor estimated assets of less than $500,000 and liabilities of less than $1 million. BAYOU HAVEN: Retains Katarina Pekarik as Kitchen Manager -------------------------------------------------------- Bayou Haven Bed & Breakfast, LLC, seeks authority from the U.S. Bankruptcy Court for the Eastern District of Louisiana to retain insider, Katarina Pekarik and to allow compensation to Katarina. The sole members of Bayou Haven, LLC are Juraj and Dawn Pekarik. Katarina Pekarik is the daughter-in-law of Juraj Pekarik, and therefore, an insider of the Debtor. Prior to the filing of the Bankruptcy Petition, Katarina was involved in the operation of the Debtor as Kitchen Manager. Prior to the filing of the Debtor's Bankruptcy Petition, Katarina received compensation of $500.00 per month. Katarina spends approximately 15 hours per week working for the Debtor. Debtor asks that this compensation and employment stay in place during its post-petition operations. In lieu of salary, the Debtor may pay for living expenses of Katarina. The insider can be reached through: Katarina Pekarik Bayou Haven Bed & Breakfast 34205 Highway 433 Slidell, LA 70460 Phone: 985-707-4884 About Bayou Haven Bed & Breakfast Bayou Haven Bed and Breakfast, LLC -- http://www.bayouhavenslidell.com/-- is located on beautiful Bayou Liberty in Slidell, Louisiana. Bayou Haven is a newly built, seven suite bed and breakfast designed to evoke the feel of a mid-1800s bayou plantation house. Every inch of the property was created to exude the charm, comfort, and grace that is southern hospitality. Bayou Haven Bed & Breakfast filed a Chapter 11 petition (Bankr. E.D. La. Case No. 18-10570) on March 12, 2018, estimating under $1 million in assets and liabilities. Robin R. DeLeo, Esq., at The De Leo Law Firm LLC, is the Debtor's counsel. Wayne M. Aufrecht, LLC, is the Debtor's co-counsel. Jeffrey D. Schoen, Esq., and Thomas H. Huval, Esq., at Jones Fussell, LLP, serve as special counsel. BENCHMARK ELECTRONICS: S&P Alters Outlook to Neg & Affirms BB ICR ----------------------------------------------------------------- S&P Global Ratings revised its outlook to negative from stable and affirmed its 'BB' issuer credit rating on Scottsdale, Ariz.-based Benchmark Electronics. The outlook revision reflects Benchmark's weakening profitability as well as its declining FOCF on increasing capex. Last quarter, EBITDA fell by more than $6 million year over year despite revenues growing 7%, and S&P expects a similar pattern next quarter, caused by a weakening product mix with revenues from the lower-margin computing segment surging, medical customer transitions, investments in engineering and solutions, and new program ramps. FOCF has also fallen on increased growth-related capex, which began in 2017. Capex is approaching $70 million for the last 12 months (LTM), compared to an average below $40 million from 2012 to 2016. Adjusted for working capital changes, which can be volatile for EMS companies, adjusted FOCF to debt was 8%. The negative outlook also captures the risk that test and instrumentation revenues could revert to historical levels following very strong performance in 2017 and 2018, and the risk of business disruption from tariffs that might be imposed by the U.S. on products made in China. The negative outlook reflects Benchmark's weakening profitability and falling cash flow in recent quarters, as well as the risk that a reversal in the test and instrumentation segment would weaken credit metrics further. S&P said, "We could lower the rating if the company sustained leverage above 3x or FOCF to debt below 10%; we could also lower the rating if its growth-related capex did not result in high-single-digit revenue growth. This could occur if the test and instrumentation segment fell from very strong levels as a result of semiconductor industry weakness, the U.S.-imposed tariffs on goods made in China, or the company lost a key customer. The company could also breach these thresholds as the result of a debt-financed acquisition. "We could revise the outlook to stable if Benchmark were able to achieve sustained FOCF to debt of about 10% and leverage below 3x. This would likely occur if the company could deliver high-single-digit revenue growth and return adjusted EBITDA margin to the 6% area." BIG APPLE: Case Summary & 20 Largest Unsecured Creditors -------------------------------------------------------- Affiliated companies that have filed voluntary petitions seeking relief under Chapter 11 of the Bankruptcy Code: Debtor Case No. ------ -------- Big Apple Energy, LLC 18-75807 100 Crossways Park Drive West, Suite 405 Woodbury, NY 11797 Clear Choice Energy, LLC 18-75808 100 Crossways Park Drive West, Suite 405 Woodbury, NY 11797 Business Description: Big Apple Energy LLC Clear Choice Energy, LLC are energy-marketing firms that focus on natural gas. The Debtors provide their services to wholesale marketers. They also offer consulting services to large end users on energy utilization and utility rate structure analysis. The Debtors are based in Woodbury, New York. Chapter 11 Petition Date: August 27, 2018 Court: United States Bankruptcy Court Eastern District of New York (Central Islip) Judges: Hon. Alan S. Trust (18-75807) Hon. Louis A. Scarcella (18-75808) Debtors' Counsel: Jonathan I. Rabinowitz, Esq. RABINOWITZ, LUBETKIN & TULLY, LLC 293 Eisenhower Parkway, Suite 100 Livingston, NJ 07039 Tel: 973-597-9100 Fax: 973-597-9119 Email: jrabinowitz@rltlawfirm.com Each Debtor's Estimated Assets: $10 mil. to $50 million Each Debtor's Estimated Debt: $10 mil. to $50 million The petitions were signed by Victor M. Ferreira, manager of BAE Energy Management, LLC, sole member of the Debtor. Full-text copies of the petitions are available for free at: http://bankrupt.com/misc/nyeb18-75807.pdf http://bankrupt.com/misc/nyeb18-75808.pdf A. List of Big Apple's 20 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount ------ --------------- ------------ Algonquin Gas Pipeline $9,304 American Express $27,891 Chiesa Shahinian $187,480 Cohen Reznick $200,000 Columbia Gas TransCanada $75,099 Dominion Energy Pipeline $79,918 DTE Energy $208,333 Empire Pipeline $415 Holland & Hart $445 Loeb & Loeb $52,382 Mieco Inc. $2,171,340 301 East Ocean Blvd. Suite 100 90802-4832 Millennium Pipeline $20,424 National Fuel Gas $9,698 RXR Realty LLC $12,283 Stagecoach Pipeline $20,645 Tennessee Gas Pipeline $117,058 The Payroll Store $1,200 TransCanada Pipeline $76,317 Union Gas Pipeline $6,753 United Metro Energy Services $59,800 B. List of Clear Choice's Four Unsecured Creditors: Entity Nature of Claim Claim Amount ------ --------------- ------------ DTE Energy $340,750 414 S. Main Street Suite 200 Ann Arbor, MI 48104 Macquarie Bank, Ltd. Unknown New York Independent System Operator $3,200,000 10 Krey Boulevard Rensselaer, NY 12144 Penta Mezzanine SBIC Fund I, L.P. Unknown BLACK BOX: Closes Sale of Its Federal Government IT Services Biz. ----------------------------------------------------------------- Black Box Corporation has closed on its previously announced agreement to sell its Federal Government IT Services Business to Arlington Capital Partners, a private equity firm with a focus on businesses in government services and other adjacent markets, for a cash purchase price of $75 million. Arlington Capital Partners purchased 100% of the equity interests of the Federal Business on a debt-free, cash-free basis. Raymond James & Associates and Jones Day represented Black Box in this transaction. The net cash proceeds from the sale of the Federal Business, after purchase price adjustments of $5.6 million, transaction fees and expenses of $3.2 million as well as $3.0 million of funds deposited into escrow for the finalization of certain closing items as well as certain indemnifications, were used to pay Bank fees, interest on bank debt and indebtedness. After fees and interest, the new $10 million LIFO senior revolving credit facility was paid first and the Term Loan was paid in full, with the remaining funds reducing the original Revolving Credit Line. The LIFO line is available for future borrowings (subject to continued compliance with the Credit Agreement). "This was a critical step to give the company options moving forward and reduces the debt to more manageable levels," said Joel Trammell, CEO of Black Box. "While the completion of the sale of the Federal Business is a significant milestone for Black Box, the Company continues to focus on exploring all other strategic alternatives with the assistance of Raymond James and Jones Day to address its liquidity needs including, among others, refinancing, restructuring and the sale of other assets. This process reflects the continued commitment of the Board of Directors of the Company to act in the best interests of the Company and to maximize value for the Company's stockholders. While the Company is working expeditiously to its next initiative, there can be no assurances that the Company will be able to consummate any other strategic alternatives." About Black Box Black Box Corporation -- http://www.blackbox.com/-- is a digital solutions provider dedicated to helping customers design, build, manage, and secure their IT infrastructure. Offerings under the Company's services platform include unified communications, data infrastructure and managed services. Offerings under the Company's products platform include IT infrastructure, specialty networking, multimedia and keyboard/video/mouse ("KVM") switching. The Company employed 3,264 and 3,488 employees as of March 31, 2018 and March 31, 2017, respectively. Black Box reported a net loss of $100.09 million for the year ended March 31, 2018, compared to a net loss of $7.05 million for the year ended March 31, 2017. As of June 30, 2018, Black Box had $366.85 million in total assets, $330.08 million in total liabilities and $36.77 million in total stockholders' equity. The audit opinion included in the company's Annual Report on Form 10-K for the year ended March 31, 2018 contains a going concern explanatory paragraph expressing substantial doubt about the Company's ability to continue as a going concern. BDO USA, LLP, the Company's auditor since 2005, noted that the Company has suffered recurring losses from operations, has negative operating cash flow and is dependent upon raising additional capital or refinancing its debt agreement to fund operations that raise substantial doubt about its ability to continue as a going concern. BLUE COPPER: U.S. Trustee Unable to Appoint Committee ----------------------------------------------------- No official committee of unsecured creditors has been appointed in the Chapter 11 case of Blue Copper Holdings, LLC, as of Aug. 21, according to a court docket. About Blue Copper Holdings Blue Copper Holdings, LLC, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Ariz. Case No. 18-09059) on July 30, 2018. In the petition signed by Robert Hunt, manager and member, the Debtor estimated assets of less than $1 million and liabilities of less than $500,000. Thomas H. Allen, Esq., at Allen Barnes & Jones, PLC, serves as the Debtor's bankruptcy counsel. BRADER FAMILY: U.S. Trustee Unable to Appoint Committee ------------------------------------------------------- No official committee of unsecured creditors has been appointed in the Chapter 11 case of Brader Family Partnership, Ltd., as of Aug. 21, according to a court docket. About Brader Family Partnership Brader Family Partnership, Ltd., sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 18-33678) on July 2, 2018. It filed as a single asset real estate (as defined in 11 U.S.C. Section 101 (51B)). In the petition signed by Susan Brader, co-general partner, the Debtor estimated assets of $1 million to $10 million and liabilities of $1 million to $10 million. Richard Lee Fuqua, II, Esq., at Fuqua & Associates, PC, serves as the Debtor's bankruptcy counsel. Judge Jeff Bohm presides over the case. CELL SCIENCE: U.S. Trustee Unable to Appoint Committee ------------------------------------------------------ No official committee of unsecured creditors has been appointed in the Chapter 11 case of Cell Science Systems Corporation as of Aug. 21, according to a court docket. About Cell Science Cell Science Systems Corporation -- https://www.cellsciencesystems.com/ -- is a speciality clinical laboratory that develops and performs laboratory testing in immunology and cell biology supporting the personalized treatment and prevention of chronic disease. Cell Science Systems operates a CLIA certified laboratory and is a FDA inspected and registered cGMP medical device manufacturer meeting ISO EN13485 standards. Cell Science Systems filed for bankruptcy protection (Bankr. S.D. Fla. Case No. 18-17541) on June 22, 2018. Judge Raymond Ray presides over the case. Furr & Cohen represents the Debtor. CITATION NORTHSTAR: Taps Allen Barnes as Legal Counsel ------------------------------------------------------ Citation Northstar Center LLC seeks approval from the U.S. Bankruptcy Court for the District of Arizona to hire Allen Barnes & Jones, PLC, as its legal counsel. The firm will represent the Debtor in negotiations with its creditors and will provide other legal services related to its Chapter 11 case. Allen Barnes will charge these hourly rates: Thomas Allen, Member $405 Hilary Barnes, Member $405 Michael Jones, Member $355 Philip Giles, Associate $305 David Nelson, Associate $225 Legal Assistant $115 to $195 Law Clerk $115 to $195 The firm received a retainer of $31,717 from the Debtor prior to the Petition Date. Allen Barnes does not represent any interest adverse to the Debtor and its estate, according to court filings. The firm can be reached through: Thomas H. Allen, Esq. Philip J. Giles, Esq. David B. Nelson, Esq. Allen Barnes & Jones, PLC 1850 N. Central Ave., Suite 1150 Phoenix, AZ 85004 Tel: 602-256-6000 Fax: 602-252-4712 Email: tallen@allenbarneslaw.com Email: pgiles@allenbarneslaw.com Email: dnelson@allenbarneslaw.com About Citation Northstar Center Citation Northstar Center, LLC is engaged in activities related to real estate. Its principal assets are located at Northstar Center Subdivision-SEC State Highway 2 & 57th St. NW Williston, North Dakota. Citation Northstar Center sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Ariz. Case No. 18-09753) on Aug. 14, 2018. At the time of the filing, the Debtor estimated assets of $50 million to $100 million and liabilities of $50 million to $100 million. Judge Brenda K. Martin presides over the case. CITATION NORTHSTAR: Taps World Tax Partners as Accountant --------------------------------------------------------- Citation Northstar Center, LLC, seeks approval from the U.S. Bankruptcy Court for the District of Arizona to hire World Tax Partners, LLP, as its accountant. The firm will prepare the Debtor's 2017 federal and state income tax returns for a fixed fee of $7,500. World Tax Partners is "disinterested" as defined in Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached through: Patrick Williams World Tax Partners, LLP P.O. Box 723668 Atlanta, GA 31139 -- and -- Patrick Williams World Tax Partners, LLP 1911 Old Denton Road, Suite C Carrollton, TX 75006 USA Tel: 972-236-6716 Fax: 214-291-5790 About Citation Northstar Center Citation Northstar Center, LLC, is engaged in activities related to real estate. Its principal assets are located at Northstar Center Subdivision-SEC State Highway 2 & 57th St. NW Williston, North Dakota. Citation Northstar Center sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Ariz. Case No. 18-09753) on August 14, 2018. At the time of the filing, the Debtor estimated assets of $50 million to $100 million and liabilities of $50 million to $100 million. Judge Brenda K. Martin presides over the case. CITGO HOLDING: S&P Cuts Sec. Debt Rating to B on Decreased Leverage ------------------------------------------------------------------- S&P Global Ratings raised its issue-level rating on U.S. refinery company CITGO Holding Inc.'s senior secured debt to 'B' from 'B-' on decreased consolidated leverage. At the same time, S&P Global Ratings revised its recovery rating on the debt to '2' from '3', reflecting its expectation for substantial (70%-90%; rounded estimate 85%) recovery in the event of default. S&P Global Ratings' 'B-' long-term issuer credit rating on both CITGO Holding and its core subsidiary CITGO Petroleum Corp., are unchanged. The 'B+' issue-level rating on CITGO Petroleum's senior secured debt is also unchanged. The recovery rating on the debt remains '1', which indicates the likelihood of very high (90%-100%; rounded estimate: 95%) recovery following a default. All ratings remain on CreditWatch, where S&P placed them with developing implications Dec. 7, 2017. In March 2018, CITGO Holding undertook a deleveraging transaction whereby it issued additional senior secured notes under the 2020 indenture and took cash on hand to retire the $1.3 billion term loan due in 2018. Overall, this reduced consolidated leverage by approximately $1 billion. Given the sanctions on ultimate parent and Venezuela state oil company Petróleos de Venezuela S.A. (PDVSA; SD/--/--), S&P does not believe the company will re-lever to pay dividends to the parent. Therefore, CITGO Holding's financial risk profile has improved. In addition, because of the decreased debt, the recovery on the senior secured debt at CITGO Holding has improved, leading to the upgrade. CreditWatch with developing implications means that there is a significant likelihood of a rating action, either negative or positive, within the next 90 days. Events that could lead to a positive rating action include CITGO Holding's sale to a company with a stronger credit profile than PDVSA. Events that could lead to a negative rating action include PDVSA seeking bankruptcy protection that a court agrees must include CITGO Holding's or the government of Venezuela taking an action that negatively affects the company's operational capability, such as forcing an asset sale that alters CITGO Holding's cash flow profile. In addition, a negative rating action could occur if there were a change of control of CITGO Holding, and the requirement to repurchase bonds was not waived. CURAE HEALTH: Hires BMC Group, Inc. as Claims & Noticing Agent -------------------------------------------------------------- Curae Health, Inc. and its debtor-affiliates seek authority from the U.S. Bankruptcy Court for the Middle District of Tennessee to employ BMC Group, Inc. as their claims and noticing agent. Services BMC will perform as noticing agent are: (a) notify all potential creditors of the filing of the Debtors' bankruptcy petitions and of the setting of the date for the first meeting of creditors, pursuant to Section 341(a) of the Bankruptcy Code, under the proper provisions of the Bankruptcy Code and the Bankruptcy Rules; (b) maintain an official copy of the Debtors' schedules of assets and liabilities and statements of financial affairs (collectively, "Schedules"), listing the Debtors' known creditors and the amounts owed thereto; (c) notify all potential creditors of the existence and amount of their respective claims, as evidenced by the Debtors' books and records and as set forth in the Schedules; (d) furnish a notice of the last day for the filing of proofs of claim and a form for the filing of a proof of claim, after such notice and form are approved by this Court; (e) maintain a post office box for the purpose of receiving claims; (f) for all notices, file with the Clerk’s Office an affidavit or certificate of service which includes a copy of the notice, a list of persons to whom it was mailed (in alphabetical order), and the date mailed, within seven days of service; (g) docket all claims received by the Clerk's Office, maintain the official claims registers for each Debtor on behalf of the Clerk’s Office, and, upon the Clerk's Office's request, provide the Clerk’s Office with certified duplicate unofficial Claims Registers; (h) specify, in the applicable Claims Register, the following information for each claim docketed: (i) the claim number assigned, (ii) the date received, (iii) the name and address of the claimant and agent, if applicable, who filed the claim, (iv) the filed amount of the claim, if liquidated, and (v) the classification(s) of the claim (e.g., secured, unsecured, priority, etc.) according to the proof of claim; (i) record all transfers of claims and provide any notices of such transfers required by Bankruptcy Rule 3001(e); (j) relocate, by messenger, or overnight delivery (at the expense of the estate), all of the court-filed proofs of claim to the offices of BMC Group, not less than weekly; (k) upon completion of the docketing process for all claims received to date for each case, turn over to the Clerk’s Office copies of the Claims Registers for the Clerk's Office review (upon the Clerk's Office's request); (l) make changes in the Claims Registers pursuant to Court Order; (m) maintain the official mailing list for each Debtor of all entities that have filed a proof of claim, which list shall be available upon request by a party-in-interest or the Clerk's Office; (n) thirty days prior to the close of these cases, arrange to have submitted to the Court a proposed order dismissing BMC Group and terminating the services of BMC Group upon completion of its duties and responsibilities and upon the closing of these cases; (o) file with the Court the final version of the Claims Registers immediately before the close of the these cases; and (p) at the close of these cases, box and transport all original documents in proper format, as provided by the Clerk’s Office, to the Federal Archives Record Administration, located at Central Plains Region, 200 Space Center Drive, Lee’s Summit, MO 64064. Prior to the filing of the Debtors' Chapter 11 petitions, BMC Group was paid a retainer of $5,000.00, which was to be first applied to bring any outstanding balance for fees and expenses current. Tinamarie Feil, president of BMC Group, 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 Debtors and their estates. BMC Group can be reached at: Tinamarie Feil BMC GROUP, INC. 600 1st Avenue, Suite 203 Seattle, WA 98104 Tel: (206) 499-2169 E-mail: tfeil@bmcgroup.com About Curae Health Curae Health is a 501(c)(3) not-for-profit health system formed to address the needs of rural healthcare. Focusing on rural community hospitals in the Southeastern US, Curae collaborates with medical staff and communities to add new services and upgrade the facilities, alleviating the need for patients to travel long distances for their healthcare needs. On Aug. 24, 2018, Curae Health, Inc. and its affiliates sought Chapter 11 protection (Bankr. M.D. Tenn. Lead Case No. 18-05665). Curae Health estimated $10 million to $50 million in total assets and $50 million to $100 million in total liabilities. The cases are assigned to Judge Charles M. Walker. The Debtors tapped POLSINELLI PC as counsel; GLASSRATNER ADVISORY & CAPITAL GROUP LLC, as financial advisors; EGERTON MCAFEE ARMISTEAD & DAVIS, P.C., as special counsel; MORGAN STANLEY as investment banker; and BMC GROUP, INC., as claims and noticing agent. CURAE HEALTH: Hires GlassRatner Advisory as Financial Advisor ------------------------------------------------------------- Curae Health, Inc. and its debtor-affiliates seek authority from the U.S. Bankruptcy Court for the Middle District of Tennessee to employ GlassRatner Advisory & Capital Group, LLC as financial advisor. Service GlassRatner will render are: a. develop cash flow projections; b. find an appropriate DIP lender; c. prepare the statutory reporting requirements, including statements of financial affairs and associated schedules; d. prepare of reports for, and communications with, the Bankruptcy Court, creditors, and any other constituent; e. implement needed operational and/or strategic enhancements; f. review, evaluate, and analyze the financial ramifications of proposed transactions for which the Debtors may seek Bankruptcy Court approval; g. provide financial advice and assistance to the Debtors in connection with a sale transaction and conduct a section 363 auction to sell the assets of the Debtors; h. assist the Debtors in developing and supporting a proposed plan of reorganization; i. render Bankruptcy Court testimony in connection with the foregoing, as required, on behalf of the Debtors; and j. provide any other duty or task which falls within the normal responsibilities of an accountant or financial advisor. GlassRatner hourly rates are: Managing Director (Marshall Glade) $375 Senior Associate (Riley Young) $285 Associates $200 to $325 Directors $325 to $425 Principals $450 to $595 Marshall Glade, managing director with GlassRatner Advisory & Capital Group, attests that GlassRatner is a "disinterested person" as that term is defined by Bankruptcy Code section 101(14). The Advisor can be reached through: Marshall Glade GlassRatner Advisory & Capital Group, LLC 3445 Peachtree Road, Suite 1225 Atlanta, GA 30326 Phone: 678-904-1990 Fax: (678) 904-1991 Email: mglade@glassratner.com About Curae Health Curae Health is a 501(c)(3) not-for-profit health system formed to address the needs of rural healthcare. Focusing on rural community hospitals in the Southeastern US, Curae collaborates with medical staff and communities to add new services and upgrade the facilities, alleviating the need for patients to travel long distances for their healthcare needs. On Aug. 24, 2018, Curae Health, Inc. and its affiliates sought Chapter 11 protection (Bankr. M.D. Tenn. Lead Case No. 18-05665). Curae Health estimated $10 million to $50 million in total assets and $50 million to $100 million in total liabilities. The cases are assigned to Judge Charles M. Walker. The Debtors tapped POLSINELLI PC as counsel; GLASSRATNER ADVISORY & CAPITAL GROUP LLC, as financial advisors; EGERTON MCAFEE ARMISTEAD & DAVIS, P.C., as special counsel; MORGAN STANLEY as investment banker; and BMC GROUP, INC., as claims and noticing agent. CURAE HEALTH: Russellville Hospital Not Part of Bankruptcy Filing ----------------------------------------------------------------- While Curae Health Inc. and certain affiliates have commenced Chapter 11 cases, Russellville Hospital Inc., owner of an acute care facility in Russellville, Alabama, has not sought bankruptcy protection. Debtor Curae Health is the sole member and organizational sponsor of Russellville Hospital, a Tennessee nonprofit corporation that owns and operates a 100-bed acute care facility in Russellville, Alabama, offering the following services: a 24-hour emergency room; intensive care unit; cardiac care unit; respiratory therapy; inpatient and outpatient diagnostic and treatment services; rehabilitation services; cardiac catheterization; ambulatory surgery; laboratory; and home health. Russellville has not filed a voluntary petition for relief and seeks to continue owning and operating the Russellville Facilities uninterrupted by the Chapter 11 cases for the benefit of the community in which it is located. The debts and obligations of Russellville are separate and distinct from those of debtors Amory Regional Physicians, LLC, Batesville Regional Physicians, LLC, Clarksdale Regional Physicians, LLC, and none of the Debtors' obligations are cross-collateralized or cross-defaulted with those of Russellville. Funds generated by Russellville are passed up to debtor Curae, however, such funds are kept separate and segregated from funds generated for Curae by debtors Amory, Batesville, and Clarksdale. Curae uses these funds to pay the payroll of the employees of Russellville. Russellville is the sole member of Russellville Physicians, LLC, which employs some of the physicians that work in the Russellville Facilities. Russellville Physicians has not filed a voluntary petition for relief and seeks to continue operating uninterrupted by these Chapter 11 cases for the benefit of the community in which it is located. Debtor Curae pays the payroll for the physicians and other employees of the Affiliates. The physicians and employees of Russellville Physicians work at the Russellville Facilities and generate income for Russellville. That income is then passed up to Curae pursuant to the Cash Management System. Curae then pays the salaries of the physicians and employees of the Affiliates. The Company desires to keep the Affiliates out of bankruptcy. Should the Chapter 11 cases interrupt the ability of the Affiliates to maintain their operations, however, the Debtors are prepared to have each of the Affiliates file petitions for relief in the Court. About Curae Health Curae Health Inc. was formed in 2014 as a 501(c)(3) not-for-profit health system whose mission was to acquire rural hospitals and operate them to address the needs of rural healthcare. Curae Health and units that own three hospitals in Mississippi sought Chapter 11 protection on Aug. 24, 2018. Curae Health estimated assets of $10 million to $50 million and debt of $50 million to $100 million. The affiliated debtors are Amory Regional Medical Center, Inc., operator of a 95-bed hospital, located in Amory, Mississippi; Batesville Regional Medical Center, Inc., operator of a 112-bed hospital and certain other healthcare related facilities located in Batesville, Mississippi; and Clarksdale Regional Medical Center, Inc., operator of a 181-bed regional medical center located in Clarksdale, Mississippi. The Hon. Charles M. Walker is the case judge. The Debtors tapped POLSINELLI PC as counsel, GLASSRATNER ADVISORY & CAPITAL GROUP LLC as financial advisor, EGERTON MCAFEE ARMISTEAD & DAVIS, P.C., as special counsel, MORGAN STANLEY as investment banker; and BMC GROUP, INC., as claims and notice agent. CURAE HEALTH: Sends Three Hospitals to Chapter 11 ------------------------------------------------- Curae Health, Inc., and certain affiliates owning three Mississippi hospitals have sought Chapter 11 bankruptcy protection just two years since acquiring the health care facilities from Community Health Systems, Inc., for $51 million. The Debtors currently own and operate these facilities: 1. Amory. Amory Regional Medical Center, Inc., is a Tennessee nonprofit corporation that owns and operates a 95-bed hospital, located in Amory, Mississippi, which provides emergency care, intensive care, a wound care center, diagnostics, surgery, and many other inpatient & outpatient medical services, treatments and programs. Amory is the sole member of Amory Regional Physicians, LLC, which employs some of the physicians that work in the Amory Facilities. 2. Batesville. Batesville Regional Medical Center, Inc., is a Tennessee nonprofit corporation that owns and operates a 112-bed hospital and certain other healthcare related facilities located in Batesville, Mississippi, offering services in emergency care, surgery, radiology, labor and delivery, cardiopulmonary services, physical therapy, cardiac rehab, pharmacy, primary care, pediatrics, sleep, adult medicine and women's health clinics. Batesville is the sole member of Batesville Regional Physicians, LLC, which employs some of the physicians that work in the Batesville Facilities. 3. Clarksdale. Clarksdale Regional Medical Center, Inc., is a Tennessee nonprofit corporation that leases and operates a 181-bed regional medical center located in Clarksdale, Mississippi, which includes these facilities: 10-bed ICU; 33-bed telemetry stepdown unit; 20 ambulatory surgery beds, 10-bed emergency department; 7-room operating suite; 12-bed recovery room; labor and delivery suite (2 labor and delivery rooms, 5 regular labor rooms, 2 delivery rooms, and a 23-bassinet newborn and intensive care nursery); pavilion dedicated for women and children; wound healing center; and medical and surgical units. Clarksdale leases the Clarksdale Facilities from Coahoma County. Clarksdale is the sole member of Clarksdale Regional Physicians, LLC, which employs some of the physicians that work in the Clarksdale Facilities. In early 2016, Curae was approached about acquiring the Facilities from CHS. In May 2016, Curae entered into a letter of intent to acquire the Facilities. On Sept. 28, 2016, Curae and CHS entered into an asset purchase agreement, whereby Curae and its affiliates, including Amory, Batesville, and Clarksdale, purchased, inter Alia , the Facilities. The Facilities' performance from 2013 to 2015 was sufficient to warrant the asking price of $51 million based on industry utilized multiples of net revenue and EBITDA. Stephen N. Clapp, president and CEO of Curae Health, explains that the purchase price was based on the 2013 to 2015 historical numbers and the first quarter of 2016. At the time, the Facilities had positive EBITDA sufficient enough to support the purchase price and corresponding debt. Moreover, the transition to the Curae operating model would improve financial performance by reducing operating expenses by 1% to 3%. Unfortunately, the dramatic decline in net revenue of $23 million between 2013 and 2018 annualized more than offset the expense savings that were realized. In addition to the dramatic decrease in net revenues, the Company incurred higher than anticipated information systems costs than projected. This was a result of using CHS information systems longer than anticipated and the inability to secure permanent information system financing (outside of vendor financing). Given the poor performance of the Facilities, accounts payable continued to grow. Several of the Facilities' large vendors began to request payment plans for the older invoices. Some vendors moved to requiring payment before they would deliver supplies or services. All of these factors created a significant cash crunch, and the Debtors recognized the need to seek relief by filing petitions for relief under Chapter 11 of the Bankruptcy Code to ensure the Facilities can continue to operate for the benefit of their respective communities. The Debtors have filed the Chapter 11 cases so that the communities served by the Facilities will continue to have access to local healthcare services. As part of the Chapter 11 cases, the Debtors propose to sell each of the Facilities and their respective Physician Entity as going concerns to arm's-length third parties that are able to keep them in operation so that they can continue to serve their communities. The Company has been working with various interested parties to assist them in their review of the Facilities. The Company anticipates filing a motion with the Court to authorize the sale of the Facilities in the near term. About Curae Health Curae Health Inc. was formed in 2014 as a 501(c)(3) not-for-profit health system whose mission was to acquire rural hospitals and operate them to address the needs of rural healthcare. Curae Health and units that own three hospitals in Mississippi sought Chapter 11 protection on Aug. 24, 2018. Curae Health estimated assets of $10 million to $50 million and debt of $50 million to $100 million. The affiliated debtors are Amory Regional Medical Center, Inc., operator of a 95-bed hospital, located in Amory, Mississippi; Batesville Regional Medical Center, Inc., operator of a 112-bed hospital and certain other healthcare related facilities located in Batesville, Mississippi; and Clarksdale Regional Medical Center, Inc., operator of a 181-bed regional medical center located in Clarksdale, Mississippi. The Hon. Charles M. Walker is the case judge. The Debtors tapped POLSINELLI PC as counsel, GLASSRATNER ADVISORY & CAPITAL GROUP LLC as financial advisor, EGERTON MCAFEE ARMISTEAD & DAVIS, P.C., as special counsel, MORGAN STANLEY as investment banker; and BMC GROUP, INC., as claims and notice agent. CURAE HEALTH: Taps Egerton McAfee as Special Transactional Counsel ------------------------------------------------------------------ Curae Health, Inc. and its debtor-affiliates seek authority from the U.S. Bankruptcy Court for the Middle District of Tennessee to employ Egerton, McAfee, Armistead & Davis, P.C. as special transactional counsel and healthcare regulatory counsel to the Debtors. Professional services that Egerton will be required to render are: a. federal and state-specific healthcare regulatory and compliance issues; b. healthcare contracting between hospitals and individual physicians and physician practice groups; c. healthcare operations and billing and reimbursement compliance; d. medical staff guidance, including peer review, credentialing, investigations, and reporting; e. healthcare transactional matters, including mergers, acquisitions, and member substitutions; f. healthcare operations and transaction financing; g. employer and employee relations; h. physician immigration matters; and i. non-profit taxation and compliance matters. Egerton's hourly rates are: partners $375–$525 associates $250–$325 paraprofessionals $125 –$150 Stephen A. McSween, Esq., a partner of Egerton, McAfee, Armistead & Davis, P.C., attest that Egerton is a "disinterested person" as that term is defined in Bankruptcy Code section 101(14). The counsel can be reached through: Stephen A. McSween Egerton, McAfee, Armistead & Davis, P.C. 900 S. Gay Street, Suite 1400 Knoxville, TN 37902 Tel: (865) 546-0500 Fax: (865) 525-5293 Email: smcsween@emlaw.com About Curae Health Curae Health is a 501(c)(3) not-for-profit health system formed to address the needs of rural healthcare. Focusing on rural community hospitals in the Southeastern US, Curae collaborates with medical staff and communities to add new services and upgrade the facilities, alleviating the need for patients to travel long distances for their healthcare needs. On Aug. 24, 2018, Curae Health, Inc. and its affiliates sought Chapter 11 protection (Bankr. M.D. Tenn. Lead Case No. 18-05665). Curae Health estimated $10 million to $50 million in total assets and $50 million to $100 million in total liabilities. The cases are assigned to Judge Charles M. Walker. The Debtors tapped POLSINELLI PC as counsel; GLASSRATNER ADVISORY & CAPITAL GROUP LLC, as financial advisors; EGERTON MCAFEE ARMISTEAD & DAVIS, P.C., as special counsel; MORGAN STANLEY as investment banker; and BMC GROUP, INC., as claims and noticing agent. DAVIES CONSULTANTS: Case Summary & 6 Unsecured Creditors -------------------------------------------------------- Debtor: Davies Consultants, Inc. 7 Palermo Drive Tinton Falls, NJ 07724 Business Description: Davies Consultants, Inc. is a lessor of real estate based in Tinton Falls, New Jersey. The Company owns an unimproved land located at 2065 Highway 37 Manchester Township, New Jersey. Chapter 11 Petition Date: August 27, 2018 Court: United States Bankruptcy Court District of New Jersey (Trenton) Case No.: 18-27119 Judge: Hon. Kathryn C. Ferguson Debtor's Counsel: Daniel M. Eliades, Esq. K&L GATES LLP One Newark Center 1085 Raymond Blvd., 10th Floor Newark, NJ 07102 Tel: 973-848-4018 973-848-4000 Fax: 973-848-4001 Email: daniel.eliades@klgates.com - and - Matteo Percontino, Esq. K&L GATES LLP One Newark Center, 10th Floor Newark, NJ 07102 Tel: 973-848-4047 Fax: 973-848-4001 Email: matteo.percontino@klgates.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by John W. Davies, vice president. A full-text copy of the petition containing, among other items, a list of the Debtor's six unsecured creditors is available for free at: http://bankrupt.com/misc/njb28-27119.pdf DRW SERVICES: Taps Schoenberg Finkel Newman as Special Counsel -------------------------------------------------------------- DRW Services, Inc., sought and obtained authority from the United States Bankruptcy Court for the Northern District of Illinois, Eastern division, to employ Norman T. Finkel and Schoenberg Finkel Newman & Rosenberg, LLC, as special counsel. On August 13, 2018, Pipe Fitters' Retirement Fund, Local 597 et al, filed a Proof of Claim, asserting a claim in the amount of $286,816. The Debtor disputes this claim. As special counsel, SFNR will dispute the claim of Local 597 and represent the Debtor as necessary with respect to any matters involving are relating to Local 597 as well as any matters relating to labor unions including pensions, employment or benefit funds. An initial payment of $7,500.00 as retainer has been provided by the Debtor. SFNR is "disinterested" within the meaning of Sections 101(14) and 327 of the Bankruptcy Code. The counsel can be reached through: Norman T. Finkel, Esq. Schoenberg Finkel Newman & Rosenberg, LLC 222 South Riverside Plaza, Suite 2100 Chicago, IL 60606 Phone: (312) 648-2300 Fax: (312) 648-1212 Email: Norm.Finkel@snfr.com About DRW Services DRW Services, Inc., filed a Chapter 11 bankruptcy petition (Bankr. N.D. Ill. Case No. 18-18995) on July 5, 2018. The DRW Services case is jointly administered with the case of RLG & Son's, LLC (Case No. 18-bk-18998). DRW estimated under $50,000 in assets and $1 million to $10 million in liabilities. The Debtors hired Crane Simon Clar & Dan, as counsel. EDP GROUP: Trustee Taps Joseph A. Broderick as Accountant --------------------------------------------------------- Alan Nisselson, the Chapter 11 trustee for EDP Group Inc., seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to hire Joseph A. Broderick, PC as his accountant. The firm will review the Debtor's books and records; assist in the review of claims; prepare tax returns and an analysis of the pre-bankruptcy transfers from the bankruptcy estate; make recommendations regarding the Debtor's financial viability and ability to confirm a plan of reorganization; and provide other accounting services related to the Debtor's Chapter 11 case. The firm will charge these hourly rates: Partners $325 Seniors $175 Staff/Paraprofessionals $90 Broderick is "disinterested" as defined in Section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached through: Joseph A. Broderick, CPA Joseph A. Broderick, PC 734 Walt Whitman Road, Suite 204 Melville, NY 11747 Telephone: (631) 462-1779 Email: jabroderick2001@yahoo.com About EDP Group Inc. EDP Group Inc. is a privately held company categorized under wholesale cosmetics. Based in New York, New York, EDP Group filed a Chapter 11 petition (Bankr. S.D.N.Y. Case No. 17-12875) on Oct. 13, 2017. In the petition signed by Maria Torres, president, the Debtor estimated $500,000 to $1 million in assets and $1 million to $10 million in liabilities. Wayne Greenwald, P.C., led by principal Wayne Greenwald, is the Debtor's counsel. EDP GROUP: Trustee Taps Windels Marx as Legal Counsel ----------------------------------------------------- Alan Nisselson, Chapter 11 trustee for EDP Group Inc., seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to hire his own firm as his legal counsel. The trustee proposes to employ Windels Marx Lane & Mittendorf, LLP to represent him in negotiations with creditors; give advice regarding the disposition of the Debtor's assets; participate in the preparation of a bankruptcy plan; and provide other legal services related to the Debtor's Chapter 11 case. The firm's hourly rates range from $555 to $860 for partners, $480 to $590 for associates, $660 to $710 for counsel, and $235 to $330 for paraprofessionals. Windels Marx is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached through: Howard L. Simon, Esq. Kim M. Longo, Esq. 156 West 56th Street New York, NY 10019 Tel: (212) 237-1000 Fax: (212) 262-1215 Email: hsimon@windelsmarx.com Email: klongo@windelsmarx.com About EDP Group Inc. EDP Group Inc. is a privately held company categorized under wholesale cosmetics. Based in New York, New York, EDP Group filed a Chapter 11 petition (Bankr. S.D.N.Y. Case No. 17-12875) on October 13, 2017. The petition was signed by Maria Torres, president. Wayne Greenwald, Esq. at Wayne Greenwald, P.C. represents the Debtor as counsel. At the time of filing, the Debtor estimates $500,000 to $1 million in assets and $1 million to $10 million in liabilities. ENERGY GUARD: U.S. Trustee Forms 3-Member Committee --------------------------------------------------- The Office of the U.S. Trustee on August 27 appointed three creditors to serve on the official committee of unsecured creditors in the Chapter 11 case of Energy Guard Midwest, LLC. The committee members are: (1) Linda Taylor Southwind Plaza 2280 Southwind Ave. Colby, KS 67701 Phone: 785-443-1673 Email: lintufft@hotmail.com (2) Curt Pfannenstiel Heartland Building Center 2510 General Hays Rd. Hays, KS 67601 Phone: 785-625-6554 Email: curtp@heartlandbuildingcenter.com (3) Trista Depe 8200 W Rd. 50 S. Hoxie, KS 67740 Phone: 785-269-7197 Email: tdepe33@gmail.com 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 Energy Guard Midwest LLC Energy Guard Midwest, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Kan. Case No. 18-11070) on June 4, 2018. At the time of the filing, the Debtor disclosed that it had estimated assets of less than $50,000 and liabilities of less than $1 million. Judge Dale L. Somers presides over the case. Mark J. Lazzo, Esq., at Landmark Office Park, is the Debtor's legal counsel. EXCO RESOURCES: Exclusivity Extended Until Oct. 15 -------------------------------------------------- BankruptcyData.com reported that EXCO Resources received Court approval for a second extension to the exclusive period during which it may file a Chapter 11 Plan and Disclosure Statement, and solicit acceptances thereof, through and including October 15, 2018 and December 14, 2018, respectively. The Debtors had requested for an extension through December 11, 2018 and February 11, 2019, respectively. As BankruptcyData previously reported, "The progress made to date is the direct result of the Debtors' and their stakeholders' tremendous efforts. In order to fully realize the benefits of these efforts, the Debtors require additional time to continue marketing their East Texas/North Louisiana assets and file and confirm a chapter 11 plan. A 120-day extension of the Exclusivity Periods is merited to provide the Debtors with sufficient time to continue to pursue their dual-track restructuring process. Additionally, given the size and complexity of their business, the Debtors' request for additional time to complete their key restructuring initiatives is amply justified." About EXCO Resources EXCO Resources, Inc. (otc pink:XCOO) --http://www.excoresources.com/-- is an oil and natural gas exploration, exploitation, acquisition, development and production company headquartered in Dallas, Texas, with principal operations in Texas, North Louisiana and the Appalachia region. EXCO's headquarters are located at 12377 Merit Drive, Suite 1700, Dallas, TX 75251. EXCO Resources, Inc., and 14 of its affiliates sought Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 18-30155) on Jan. 15, 2018. EXCO disclosed total assets of $829.1 million and total debt of $1.355 billion as of Sept. 30, 2017. The Debtors' cases have been assigned to the Honorable Marvin Isgur. The Debtors tapped Gardere Wynee Sewell LLP, and Kirkland & Ellis LLP, as bankruptcy counsel; PJT Partners LP as financial advisor; Alvarez & Marsal North America, LLC, as restructuring advisor; and Epiq Bankruptcy Solutions, LLC, as claims agent. An official committee of unsecured creditors has been appointed in the case. The Committee is represented by lawyers at Jackson Walker LLP and Brown Rudnick LLP. Intrepid Partners LLC has been tapped as investment banker and Jefferies LLC as co-investment banker to the Committee. EXCO RESOURCES: Property Assignment to Rockcliff Approved --------------------------------------------------------- BankruptcyData.com reported that the Court hearing the EXCO Resources case has authorized the assignment of certain real property located in Harrison County, Texas. BankruptcyData previously reported, "The Debtors seek authority to assign approximately 40.9 net acres of oil and gas producing land in Harrison County, Texas (the ‘Assigned Acreage') to Rockcliff. Upon approval of the proposed assignment, Rockcliff will pay the Debtors $500 per acre and the Debtors will execute mortgage releases related to the Assigned Acreage in favor of Rockcliff. Additionally, under the terms of the proposed assignment, Rockcliff will drill two horizontal wells on the Assigned Acreage. If Rockcliff fails to drill such wells within one year of executing the assignment, the assignment will automatically expire and the acreage will revert to the Debtors. Absent the proposed assignment, the Assigned Acreage has only nominal value to the Debtors' estates. The Assigned Acreage is a de minimis portion of the Debtors' total approximately 85,000 net acres in the Haynesville play. Further, the Assigned Acreage is isolated from the Debtors' main acreage position and is not a part of the Debtors' go-forward drilling plan. Finally, there are no proved, probable, possible, or contingent reserves associated with the Assigned Acreage." About EXCO Resources EXCO Resources, Inc. (otc pink:XCOO) --http://www.excoresources.com/-- is an oil and natural gas exploration, exploitation, acquisition, development and production company headquartered in Dallas, Texas, with principal operations in Texas, North Louisiana and the Appalachia region. EXCO's headquarters are located at 12377 Merit Drive, Suite 1700, Dallas, TX 75251. EXCO Resources, Inc., and 14 of its affiliates sought Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 18-30155) on Jan. 15, 2018. EXCO disclosed total assets of $829.1 million and total debt of $1.355 billion as of Sept. 30, 2017. The Debtors' cases have been assigned to the Honorable Marvin Isgur. The Debtors tapped Gardere Wynee Sewell LLP, and Kirkland & Ellis LLP, as bankruptcy counsel; PJT Partners LP as financial advisor; Alvarez & Marsal North America, LLC, as restructuring advisor; and Epiq Bankruptcy Solutions, LLC, as claims agent. An official committee of unsecured creditors has been appointed in the case. The Committee is represented by lawyers at Jackson Walker LLP and Brown Rudnick LLP. Intrepid Partners LLC has been tapped as investment banker and Jefferies LLC as co-investment banker to the Committee. FIRESTAR DIAMOND: Court OKs Incentive for Non-Insider Employees --------------------------------------------------------------- BankruptcyData.com reported that the Court hearing the Firestar Diamond case authorized the Debtors' payment of performance and incentive compensation to selected non-insider employees of A. Jaffe, Firestar Diamond and Fantasy. BankruptcyData previously reported, "The proposed compensation amount for Firestar and Fantasy employees is less than the amount permitted for 'Stay Bonuses' in line 29 of the Budget under the Sixth Interim Cash Collateral Order. Under that Order, the Trustee's payment of the compensation sought in this Motion to Firestar and Fantasy employees is subject to the written consent of HSBC Bank USA, N.A. and Israel Discount Bank of New York. The Trustee does not intend to pay the compensation without such consent. The Trustee submits that the amounts set forth in Exhibit A are entirely reasonable and justified given the work undertaken by the employees in connection with the Trustee's administration of the estates and the sales processes to date and the expected work that will need to be completed to execute a liquidation and monetization of the Debtors' assets. To date, these key employees have proven themselves critical to the Trustee's duty to preserve and maximize the value of the Debtors' estates." About Firestar Diamond Firestar Diamond Inc. procures, designs, manufactures, and distributes diamond-studded jewelry. Firestar Diamond's operations span the USA, Europe, the Middle East, the Far East and India. The Company employs over 1200 people. Firestar Diamond has offices in Mumbai, Surat, New York, Chicago, Johannesburg, Antwerp, Yerevan, Dubai, and Hong Kong. A. Jaffe, Inc., a subsidiary of Firestar Diamond, designs and manufacturers wedding rings and wedding bands. Firestar Diamond, Inc., A. Jaffe, Inc., and Fantasy, Inc., sought Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 18-10509) on Feb. 26, 2018. Firestar Diamond estimated assets and debt of $50 million to $100 million. The Hon. Sean H. Lane is the case judge. The Debtors tapped Ian R. Winters, Esq., at Klestadt Winters Jureller Southard & Stevens, LLP as their bankruptcy counsel; Forchelli Deegan Terrana LLP as conflicts counsel; Lackenbach Siegel, LLP as special counsel; Getzler Henrich & Associates LLC and its managing director Mark Samson as chief restructuring officer; and Rust Consulting/Omni Bankruptcy as claims and noticing agent. Richard Levin, Esq. has been appointed as Chapter 11 Trustee of Firestar Diamond, Inc. He has tapped Jenner & Block, LLP, as his attorneys; Alvarez & Marsal Disputes and Investigations, LLC, as financial advisors; and Gem Certification & Assurance Lab, Inc., as appraisers. John J. Carney, Esq., has been appointed as examiner in the Debtors' cases. Alvarez & Marsal Disputes and Investigations, LLC, has been tapped as his financial advisor. FIRESTAR DIAMOND: Debtor Allocation of Getzler Henrich Pay Okayed ----------------------------------------------------------------- BanktruptcyData.com reported that Firestar Diamond's Chapter 11 Trustee received court approval to allocate payments to Getzler Henrich & Associates among the Debtors' estates. BankruptcyData reported that, "[U]nder the Engagement Letters, made applicable by the Retention Order, the Debtors' responsibility for Getzler's fees and expenses is independent of the services Getzler provides. Regardless of the nature of the services provided and expenses incurred in a given month, A. Jaffe is responsible for 25% of the total and Firestar and Fantasy are responsible 75% of the total. The nature and focus of Getzler's work fluctuates, and the Engagement Letters' fixed payment allocation does not accurately reflect the services rendered or expenses incurred by Getzler to the various Debtors. Authorizing the Trustee to adjust payment allocation among the Debtors would ensure the Debtors' respective estates bear a proportionate and representative responsibility for payments to Getzler." About Firestar Diamond Firestar Diamond Inc. procures, designs, manufactures, and distributes diamond-studded jewelry. Firestar Diamond's operations span the USA, Europe, the Middle East, the Far East and India. The Company employs over 1200 people. Firestar Diamond has offices in Mumbai, Surat, New York, Chicago, Johannesburg, Antwerp, Yerevan, Dubai, and Hong Kong. A. Jaffe, Inc., a subsidiary of Firestar Diamond, designs and manufacturers wedding rings and wedding bands. Firestar Diamond, Inc., A. Jaffe, Inc., and Fantasy, Inc., sought Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 18-10509) on Feb. 26, 2018. Firestar Diamond estimated assets and debt of $50 million to $100 million. The Hon. Sean H. Lane is the case judge. The Debtors tapped Ian R. Winters, Esq., at Klestadt Winters Jureller Southard & Stevens, LLP as their bankruptcy counsel; Forchelli Deegan Terrana LLP as conflicts counsel; Lackenbach Siegel, LLP as special counsel; Getzler Henrich & Associates LLC and its managing director Mark Samson as chief restructuring officer; and Rust Consulting/Omni Bankruptcy as claims and noticing agent. Richard Levin, Esq. has been appointed as Chapter 11 Trustee of Firestar Diamond, Inc. He has tapped Jenner & Block, LLP, as his attorneys; Alvarez & Marsal Disputes and Investigations, LLC, as financial advisors; and Gem Certification & Assurance Lab, Inc., as appraisers. John J. Carney, Esq., has been appointed as examiner in the Debtors' cases. Alvarez & Marsal Disputes and Investigations, LLC, has been tapped as his financial advisor. FIRESTAR DIAMOND: Navy Exchange Inventory Sold at 48% Cost Value ---------------------------------------------------------------- BankruptcyData.com reported that the Court hearing the Firestar Diamond case approved the request of the Chapter 11 Trustee to sell inventory held by Navy Exchange, a Firestar customer which operates retail outlets at various US military bases. BankruptcyData related that "[T]he Trustee intends to market and sell Firestar's interests in the Inventory to the best and highest bidder. In connection with the sale of the Inventory, the Trustee also intends to sell certain related intellectual property assets (the 'IP, together with the Inventory, the 'Transferred Assets'). "Navy Exchange has advised the Trustee that it does not object to the Trustee's selling Firestar's interests in the Transferred Assets to a third party. Consequently, the Trustee and his professionals have been in discussions with prospective buyers for the Inventory. Of these, Unique Designs, Inc. ('UDI') has submitted the highest and best offer to date. "Accordingly, on July 18, 2018, the Trustee agreed, subject to any potential overbids and the Court's approval, to the terms for the sale of Firestar's interest in the Transferred Assets to UDI for consideration in an amount equal to 48% of the aggregate Cost Value of the Inventory as of July 1, 2018." About Firestar Diamond Firestar Diamond Inc. procures, designs, manufactures, and distributes diamond-studded jewelry. Firestar Diamond's operations span the USA, Europe, the Middle East, the Far East and India. The Company employs over 1200 people. Firestar Diamond has offices in Mumbai, Surat, New York, Chicago, Johannesburg, Antwerp, Yerevan, Dubai, and Hong Kong. A. Jaffe, Inc., a subsidiary of Firestar Diamond, designs and manufacturers wedding rings and wedding bands. Firestar Diamond, Inc., A. Jaffe, Inc., and Fantasy, Inc., sought Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 18-10509) on Feb. 26, 2018. Firestar Diamond estimated assets and debt of $50 million to $100 million. The Hon. Sean H. Lane is the case judge. The Debtors tapped Ian R. Winters, Esq., at Klestadt Winters Jureller Southard & Stevens, LLP as their bankruptcy counsel; Forchelli Deegan Terrana LLP as conflicts counsel; Lackenbach Siegel, LLP as special counsel; Getzler Henrich & Associates LLC and its managing director Mark Samson as chief restructuring officer; and Rust Consulting/Omni Bankruptcy as claims and noticing agent. Richard Levin, Esq. has been appointed as Chapter 11 Trustee of Firestar Diamond, Inc. He has tapped Jenner & Block, LLP, as his attorneys; Alvarez & Marsal Disputes and Investigations, LLC, as financial advisors; and Gem Certification & Assurance Lab, Inc., as appraisers. John J. Carney, Esq., has been appointed as examiner in the Debtors' cases. Alvarez & Marsal Disputes and Investigations, LLC, has been tapped as his financial advisor. FIRESTAR DIAMOND: Seeks to Sell Assets -------------------------------------- BankruptcyData.com reported that Firestar Diamond's Chapter 11 Trustee filed with the U.S. Bankruptcy Court a motion to sell the assets of Debtors Firestar Diamonds, Fantasy and A. Jaffe. The sale motion explains, "The Trustee has already sold a substantial amount of property of the estates. The Trustee has substantial inventory and intellectual property that remain to be sold. The Trustee has concluded that to maximize the proceeds of sale, the assets should be sold at public sales in lots, but not necessarily all at once. The Trustee anticipates several sales over the coming few months as he is able to determine the allocation of the assets into lots and to assemble the assets for sale, some of which will not be physically available for a few months. The Trustee intends to offer each lot for sale as it becomes available. In some cases, multiple lots will be offered at the same time. Subject to inventory availability and other factors over which the Trustee has limited or no control, the Trustee intends to complete substantially all sales under this procedure no later than early November 2018. The Trustee has employed a jewelry expert and appraiser to advise him on the values of the estate's inventory and on the market for sales, but the Trustee has not requested formal appraisals of the inventory, because the number of individual items in the inventory is large, and appraisals of all items would be unduly expensive and unnecessary to enhance the value the Trustee expects to realize by competitive bidding for the lots of inventory. For each lot that the Trustee proposes to sell, the Trustee will file with the Court a notice of his intent to sell the lot ('Notice of Public Sale')." About Firestar Diamond Firestar Diamond Inc. procures, designs, manufactures, and distributes diamond-studded jewelry. Firestar Diamond's operations span the USA, Europe, the Middle East, the Far East and India. The Company employs over 1200 people. Firestar Diamond has offices in Mumbai, Surat, New York, Chicago, Johannesburg, Antwerp, Yerevan, Dubai, and Hong Kong. A. Jaffe, Inc., a subsidiary of Firestar Diamond, designs and manufacturers wedding rings and wedding bands. Firestar Diamond, Inc., A. Jaffe, Inc., and Fantasy, Inc., sought Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 18-10509) on Feb. 26, 2018. Firestar Diamond estimated assets and debt of $50 million to $100 million. The Hon. Sean H. Lane is the case judge. The Debtors tapped Ian R. Winters, Esq., at Klestadt Winters Jureller Southard & Stevens, LLP as their bankruptcy counsel; Forchelli Deegan Terrana LLP as conflicts counsel; Lackenbach Siegel, LLP as special counsel; Getzler Henrich & Associates LLC and its managing director Mark Samson as chief restructuring officer; and Rust Consulting/Omni Bankruptcy as claims and noticing agent. Richard Levin, Esq. has been appointed as Chapter 11 Trustee of Firestar Diamond, Inc. He has tapped Jenner & Block, LLP, as his attorneys; Alvarez & Marsal Disputes and Investigations, LLC, as financial advisors; and Gem Certification & Assurance Lab, Inc., as appraisers. John J. Carney, Esq., has been appointed as examiner in the Debtors' cases. Alvarez & Marsal Disputes and Investigations, LLC, has been tapped as his financial advisor. FIRSTENERGY SOLUTIONS: Enters Into Agreement with Key Parties ------------------------------------------------------------- FirstEnergy Corp. on Aug. 27, 2018, disclosed that it has entered into a definitive settlement agreement in the Chapter 11 proceedings of FirstEnergy Solutions (FES), its subsidiaries and FirstEnergy Nuclear Operating Company (FENOC), that would address all potential claims among the settling parties and other creditors of FES and FENOC. The definitive agreement defines and quantifies all of FirstEnergy's obligations with respect to the FES and FENOC bankruptcies and allows FirstEnergy to turn its full focus toward the continued successful implementation of its regulated growth strategies. The definitive settlement was signed by FirstEnergy, the Debtors, the Ad Hoc Noteholders Group, the Bruce Mansfield Certificateholders Group and the Unsecured Creditors Committee, and filed with the bankruptcy court in the FES Chapter 11 proceedings on August 26. The agreement is subject to the approval of the bankruptcy court. The terms of the agreement are materially consistent with the amended agreement in principle that was announced earlier this month. FES, its subsidiaries and FENOC made voluntary Chapter 11 filings under the United States Bankruptcy Code on March 31, 2018. FirstEnergy and its distribution, transmission, regulated generation and Allegheny Energy Supply subsidiaries were not part of the filing. About FirstEnergy Corp. FirstEnergy -- http://www.firstenergycorp.com-- is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. About FirstEnergy Solutions Akron, Ohio-based FirstEnergy Solutions, Corp. (FES) is a subsidiary of FirstEnergy Corp (NYSE:FE). FES -- http://www.firstenergycorp.com/-- provides energy-related products and services to retail and wholesale customers; and owns and operates 5,381 MWs of fossil generating capacity through its FirstEnergy Generation subsidiaries. FES also owns 4,048 MWs of nuclear generating capacity through its FirstEnergy Nuclear Generation subsidiary. Nuclear generating plants are operated by FirstEnergy Nuclear Operating Company (FENOC), which is a separate subsidiary of FirstEnergy Corp. On March 31, 2018, FirstEnergy Solutions and 6 affiliates, including FENOC, each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. N.D. Ohio Lead Case No. 18-50757). The cases are pending before the Honorable Judge Alan M. Koschik and the Debtors have requested that their cases be jointly administered under Case No. 18-50757. Parent company, First Energy Corp. and its other subsidiaries, including its regulated subsidiaries, are not part of the filing and will not be subject to the Chapter 11 process. First Energy Corp. listed $42.2 billion in total assets against $4.07 billion in total current liabilities, $21.1 billion in long-term debt and other long-term obligations and $13.1 billion in non-current liabilities as of Dec. 31, 2017. The Debtors tapped Akin Gump Strauss Hauer & Feld LLP as bankruptcy counsel; Brouse McDowell LPA as co-counsel; Lazard Freres & Co. as investment banker; Alvarez & Marsal North America, LLC as restructuring advisor and Charles Moore as chief restructuring officer; and Prime Clerk as claims and noticing agent. The Debtors also tapped Willkie Farr & Gallagher LLP, Hogan Lovells US LLP and Quinn Emanuel Urquhart & Sullivan, LLP as special counsel. The U.S. Trustee for Region 9 appointed an official committee of unsecured creditors on April 12, 2018. Milbank, Tweed, Hadley & McCloy LLP and Hahn Loeser & Parks LLP serve as counsel to the committee. FISHERMAN'S PIER: Court Confirms 2nd Amended Plan ------------------------------------------------- Judge Raymond B. Ray of the U.S. Bankruptcy Court for the Southern District of Florida has confirmed the second amended joint plan of reorganization jointly proposed by the Chapter 11 trustee of Fisherman's Pier, Inc., and Spiro Marchelos, the 50% equity interest holder of the Debtor. At the confirmation hearing, the Court considered the amended objection to confirmation filed by John A. Moffa, as Trustee of the J.J. Rissell Allentown, P.A., Trust, and the Plan Proponents' Joint Response to the Rissell Trust Objections. All objections presented at the Confirmation Hearing, including the Rissell Trust Objections, concerning confirmation of the Plan that were not resolved by agreement of the parties at the Confirmation Hearing are overruled. The Second Amended Plan proposes the following classification and treatment of claims: * Class 1: Priority Claims. Class 1 is unimpaired by the Plan. Each holder of a Class 1 Priority Claim will be paid in full, in cash, upon the latter date of the Effective Date of the Plan, as otherwise agreed to by the holders of these claims and the Debtor, or the date on which such claims are allowed by a Final Order. Class 1 is deemed to have accepted the Plan and is, therefore, not entitled to vote on the Plan. * Class 2: Bank of Ozarks Secured Claim. Subject to 4.02(a) the maturity of its loan, September 1, 2018, will be extended five years from the Petition Date. It shall continue to be paid its mortgage loan by the Reorganized Debtor in accordance with the terms, conditions and interest rates of its mortgage loan documents and retain its liens on property of the Debtor. Any monetary default under Bank of the Ozark’s mortgage loan shall be cured on the Effective Date of the Plan. On the Effective Date, Bank of the Ozarks and the Reorganized Debtor, shall execute renewal, modification and extension documents common to such transactions to effectuate the extension of loan maturity or, alternatively, incorporate such terms in the Plan and/or Confirmation Order. * Class 3: General Unsecured Trade Creditors. Class 3 are Trade Creditors of the Debtor. This Class is unimpaired by the Plan. The holder of a Class 3 claim will be paid in full, in cash, upon the later of the Effective Date of the Plan, as otherwise agreed to by the holders of these claims and the Debtor, or the date on which such claims are allowed by a Final Order is defined to have accepted the Plan. Therefore, Creditors in Class 3 are not entitled to vote on the Plan and are deemed to have accepted the Plan. * Class 4: General Unsecured Creditors Everett Sorensen and Amilcar J. Adao. Class 4 is impaired by the Plan. Subject to Section 4.02(b), the 10th day of the month following the Effective Date of the Plan, the Reorganized Debtor will resume monthly payments to each Class 4 creditor in accordance with their prepetition loans. Adao is allowed a $277,500 unsecured claim payable $7,500 per month for 37 months. Sorensen is allowed a $609,000 unsecured claim payable $10,000 per month for 61 months. * Class 5: General Unsecured Claim of Zaida Cohen on Account of the Addendum filed as an Alternative to her claim of interest in the Debtor. Class 5 is impaired under the Plan. Subject to Section 4.02(c), the holder of the allowed Class 5 claim will be paid by the Reorganized Debtor a total of $1,808,798.06 in principal payable in 198 equal monthly payments of principal and interest of $13,000 each, beginning the 10th day of the month following the Effective Date of the Plan and continuing until monthly payments are completed. The Reorganized Debtor may elect to satisfy the Class 5 claim in full by paying 95% of the principal balance of the claim as of the date of the payment, together with any accrued and unpaid interest then due on condition that payment is made on or before the fifth anniversary of the Effective Date. If the Reorganized Debtor sells 50% or more of the total square footage of its real estate owned at the time of the sale, Cohen shall be entitled to a reduction of the remaining principal balance of her Class 5 claim as of the closing date of the sale. The amount of the principal reduction of Cohen's Class 5 claim shall be equal to the product of the principal balance remaining due on the Class 5 claim as of the closing date of the sale multiplied by a fraction the numerator of which is is the square feet of real estate sold and the denominator of which is the total square feet of real estate then owned by the Debtor. The Reorganized Debtor's obligation to reduce the Class 5 claim principal is conditioned upon the Net Proceeds of Sale exceeding 150% of the principal balance of the Class 5 claim at the time of the closing of the sale. The principal reduction of Cohen's Class 5 claim will be paid no later than 15 days after the closing date. * Class 6A: Unsecured Claim of Zaida Cohen on Account of the Zaida/Gerald/Stephen Cohen Note filed as an alternative claim to her filed equity claim of interest in the Debtor if allowed under Section 502 of the Bankruptcy Code. Class 6A is in the amount of $391,350. The Class 6A claim will be paid according to its terms and will be unimpaired by the Plan. The Class 6A creditor is not entitled to vote on the Plan and is deemed to have accepted the Plan. The proponents of the Plan reserve the right to object to the Class 6A claim. * Class 6B: Unsecured Claim of Stephen Cohen on Account of the Zaida/Gerald/Stephen Cohen Note filed by Cohen as an alternative claim to her filed equity claim of interest in the Debtor if allowed under Section 502 of the Bankruptcy Code. Class 6B is in the amount of $311,150. The Class 6B claim will be paid according to its terms and will be unimpaired by the Plan. The Class 6B creditor is not entitled to vote on the Plan and is deemed to have accepted the Plan. The proponents of the Plan reserve the right to object to the Class 6B claim. * Class 7: Equity Interest Holders of the Debtor. Class 7 is impaired by the Plan. Subject to Section 4.02(d), each holder of an allowed equity interest will have their shares of common stock in the Debtor canceled and an equal percentage of shares of non-voting common stock in Reorganized Debtor issued to them subject to the terms of the Plan. Consistent with the provisions of the Order Resolving Stock Ownership regarding management of the Debtor, one share of voting common stock of the Reorganized Debtor shall be issued to Spiro Marchelos. Non-voting common stock shall have a preference on all dividends and distributions over voting common stock. A copy of the Trustee-proposed Second Amended Plan from PacerMonitor.com is available at https://tinyurl.com/yaymwfl6 at no charge. About Fisherman's Pier Fisherman's Pier Inc., which owns a fishing pier in Ft. Lauderdale, Florida, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 17-22819) on Oct. 23, 2017. In the petition signed by Martha Marchelos, its president, the Debtor estimated assets and liabilities of $1 million to $10 million. Judge Raymond B. Ray presides over the case. John A. Moffa, Esq., at Moffa & Breuer, PLLC, serves as the Debtor's bankruptcy counsel. On Dec. 15, 2017, the Court entered an order approving the selection of Soneet R. Kapila, as the Chapter 11 Trustee. The Trustee retained Rice Pugatch Robinson Storfer & Cohen, PLLC, as counsel. No official committee of unsecured creditors was appointed in the case. Spiro Marchelos, 50% stockholder and president of the Debtor, is represented by Thomas R. Lehman, P.A., Esq., and Robin J. Rubens, Esq., at Levine Kellogg Lehman Schneider & Grossman LLP, in Miami, Florida. The J.J. Rissell, Allentown PA, Trust, the remaining 50% equity interest holder of the Debtor, is represented by John A. Moffa, Esq., and Stephen C. Breuer, Esq., at Moffa & Breuer, PLLC, in Plantation, Florida. GNC HOLDINGS: Okays $50,000 Incremental Retainer for Lead Director ------------------------------------------------------------------ GNC Holdings, Inc. has approved, through its Nominating and Corporation Governance Committee, and upon the recommendation of its independent compensation consultant, Korn Ferry Hay Group, that the annual incremental cash retainer for Mr. Robert Moran, as lead independent director, will be $50,000. In addition to the Lead Independent Director incremental cash retainer, Mr. Moran will participate in other compensation arrangements for non-employee directors as described under the caption "Director Compensation" within the Company's definitive proxy statement on Schedule 14A, filed with the Securities and Exchange Commission on April 10, 2018. About GNC Holdings GNC Holdings, Inc., headquartered in Pittsburgh, PA, is a global specialty health, wellness and performance retailer. GNC connects customers to their best selves by offering an assortment of health, wellness and performance products, including protein, performance supplements, weight management supplements, vitamins, herbs and greens, wellness supplements, health and beauty, food and drink and other general merchandise. This assortment features proprietary GNC and nationally recognized third-party brands. GNC's diversified, multi-channel business model generates revenue from product sales through company-owned retail stores, domestic and international franchise activities, third-party contract manufacturing, e-commerce and corporate partnerships. As of June 30, 2018, GNC had approximately 8,800 locations, of which approximately 6,600 retail locations are in the United States (including approximately 2,400 Rite Aid franchise store-within-a-store locations) and franchise operations in approximately 50 countries. GNC Holdings incurred a net loss of $148.85 million in 2017 and a net loss of $286.25 million in 2016. As of June 30, 2018, GNC Holdings had $1.49 billion in total assets, $1.66 billion in total liabilities and a $166.05 million total stockholders' deficit. * * * In February 2018, S&P Global Ratings raised its corporate credit rating on the Pittsburgh, Pa.-based vitamin and supplement retailer GNC Holdings Inc. to 'CCC+' from 'SD'. S&P also placed all ratings on CreditWatch with negative implications. "The upgrade reflects our view that GNC's maturity profile will improve upon completion of the proposed refinancing transactions," S&P said, as reported by the TCR on Feb. 16, 2018. GREENWOOD FOREST: Taps Pamela Magee as Legal Counsel ---------------------------------------------------- Greenwood Forest Apartments, LLC, seeks approval from the U.S. Bankruptcy Court for the Middle District of Louisiana to hire Attorney Pamela Magee LLC as its legal counsel. The firm will advise the Debtor regarding its duties under the Bankruptcy Code and will provide other legal services related to its Chapter 11 case. Pamela Magee, Esq., the attorney who will be handling the case, charges an hourly fee of $375. Her firm received from the Debtor the sum of $3,000, which included the filing fee of $1,717, prior to the petition date. Ms. Magee disclosed in a court filing that she does not hold any interest adverse to the Debtor's estate. The firm can be reached through: Pamela Magee, Esq. Attorney Pamela Magee LLC P.O. Box 59 Baton Rouge, LA 70821 Phone: (225) 367-4667 Email: pam@AttorneyPamMagee.com About Greenwood Forest Apartments Greenwood Forest Apartments, LLC, is a real estate lessor based in Baker, Louisiana. Greenwood Forest Apartments sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. La. Case No. 18-10877) on Aug. 7, 2018. In the petition signed by Dionna Richardson, officer and manager, the Debtor estimated assets of $1 million to $10 million and liabilities of $1 million to $10 million. Judge Douglas D. Dodd presides over the case. GT REALTY: Taps Backenroth Frankel as Legal Counsel --------------------------------------------------- GT Realty Holdings LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to hire Backenroth Frankel & Krinsky, LLP, as its legal counsel. The firm will advise the Debtor regarding its duties under the Bankruptcy Code; assist in the preparation of a plan of reorganization; and provide other legal services related to its Chapter 11 case. The firm will charge these hourly rates: Paralegal $125 Scott Krinsky $505 Mark Frankel $575 Abraham Backenroth $605 Mark Frankel, Esq., at Backenroth, disclosed in a court filing that the firm's attorneys are "disinterested" as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Mark A. Frankel, Esq. Backenroth Frankel & Krinsky, LLP 800 Third Avenue, 11th Floor New York, NY 10022 Tel: (212) 593-1100 Fax: (212) 644-0544 Email: mfrankel@bfklaw.com About GT Realty Holdings GT Realty Holdings LLC is a privately-held company engaged in activities related to real estate. GT Realty Holdings sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 18-75679) on Aug. 21, 2018. In the petition signed by Christopher Gebbia, managing member, the Debtor disclosed $2,504,320 in assets and $2,604,914 in liabilities. Judge Louis A. Scarcella presides over the case. GUMP'S HOLDINGS: Taps Lincoln Partners as Financial Advisor ----------------------------------------------------------- Gump's Holdings, LLC, seeks approval from the U.S. Bankruptcy Court for the District of Nevada to hire Lincoln Partners Advisors LLC. The firm will serve as financial advisor to the company and its affiliates in connection with the sale of their intellectual property assets. Lincoln will be paid a fee equal to 12.50% of the "enterprise value" in excess of $1,608,739, if a transaction is consummated during the term of the agreement or within 18 months after its termination, plus reimbursement of work-related costs. The firm is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code, according to court filings. Lincoln can be reached through: Brendan Murphy Lincoln Partners Advisors LLC 500 West Madison Street, Suite 3900 Chicago, IL 60661 Phone: +1 (212) 257-7751 / +1 (312) 580-8339 E-mail: bmurphy@lincolninternational.com About Gump's Holdings Gump's Holdings, LLC -- http://www.gumps.com/-- operates as a holding company. The company, through its subsidiaries, sells furniture, lighting, rugs, linens, apparel and jewelry. Gump's Holdings, Gump's Corp. and Gump's By Mail, Inc., sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Nev. Case Nos. 18-14683 to 18-14685) on Aug. 3, 2018. In the petitions signed by Tony Lopez, CFO and chief operating officer, the Debtor disclosed these assets and liabilities: Assets Liabilities ------------ ------------ Gump's Holdings, LLC $47,031 $16,456,335 Gump's Corp. $9,812,318 $23,713,258 Gump's By Mail, Inc. $4,198,319 $23,755,942 The Debtors tapped Garman Turner Gordon LLP as counsel, and Lincoln Partners Advisors LLC as financial advisor. Donlin, Recano & Company Inc. is the claims and notice agent. HIALEAH 150: U.S. Trustee Unable to Appoint Committee ----------------------------------------------------- No official committee of unsecured creditors has been appointed in the Chapter 11 case of Hialeah 150, LLC, as of Aug. 21, according to a court docket. Headquartered in Coral Gables, Florida, Hialeah 150, LLC, filed for Chapter 11 bankruptcy protection (Bankr. S.D. Fla. Case No. 18-18252) on July 8, 2018, estimating its assets at up to $50,000 and its liabilities at between $10,000,001 and $50 million. Julio C. Marrero, Esq., represents the Debtor. Judge A Jay Cristol presides over the case. HIGH TIMES: Hires Lugo Mender Group LLC as Attorney --------------------------------------------------- High Times Corp seeks authority from the U.S. Bankruptcy Court for the District of Puerto Rico (Old San Juan) to hire Lugo Mender Group, LLC as debtor's attorney to provide general legal counseling services in connection with this bankruptcy petition. Lugo's hourly rates are: Wigberto Lugo Mender, Esq. $300 Associate Staff Attorney $200 Legal and Financial Assistants $125 Alexis Betancourt Vincenty, Esq., from Lugo Mender Group, LLC attests that his firm and its employees are disinterested persons within the meaning of 11 U.S.C. Sec. 101(14). The counsel can be reached through: Alexis Betancourt Vincenty, Esq. Lugo Mender Group, LLC 100 Carr. 165 Suite 501 Guaynabo, P.R. 00968-8052 Tel.: (787) 707-0404 Fax: (787) 707-0412 About High Times Corp High Times Corp, dba High Times Sport Bar, Agencia Hipica 504, High Times Convenience Store, & High Times Liquor Store, is the definitive resource for all things cannabis. From cultivation and legalization, to entertainment and culture, to hard-hitting news exposing the War on Drugs, High Times has been the preeminent source for cannabis information since 1974. Debtor filed their petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D.P.R. Case no. 18-04770) on Aug. 21, 2018. Judge Enrique S. Lamoutte Inclan presided over the case. Alexis A Betancourt Vincenty at Lugo Mender Group, LLC, is the Debtor's counsel. HOOPER HOLMES: Files for Chapter 11 to Sell to Summit for $27M -------------------------------------------------------------- Olathe, Kansas-based health and well-being programs provider Hooper Holmes, Inc., sought Chapter 11 protection with plans for a quick sale of substantially all assets to Summit Health, Inc., for $27 million in cash, absent higher and better offers. The Debtors provide comprehensive health and well-being programs offered through organizations' sponsorship. These services include on-site biometric screening services and flu shots, laboratory testing, health risk assessment, and sample collection services to, among others, corporate and government employers, health plans, well-being companies, and third party administrators. The Debtors have 326 employees. Historically, including 2017 and anticipated one again in 2018, the Debtors engage over 4,700 health professionals from their network of over 20,000 professionals. In 2015, Hooper Holmes acquired substantially all of the assets of Accountable Health Solutions, Inc. In 2017, Hooper Holmes merged with Provant Health Solutions, LLC. Prepetition Indebtedness The Debtors' prepetition capital structure includes $24 million in structured debt as of the Petition Date: Revolving Credit Facility $4,810,224 Term Loan Facility $17,657,000 Subordinated Promissory Note $1,916,998 ----------- Total $24,384,212 CNH Finance Fund I, L.P., f/k/a SCM Specialty Finance Opportunities Fund, L.P., is the lender under the Revolving Credit Facility. SWK Funding LLC is the agent, sole lead arranger and sole book-runner under the Term Loan Facility. Century Equity Partners is the holder of the subordinated notes. Hooper Holmes in a publicly traded New York corporation whose shares of common stock are listed on the OTCQX tier of the electronic quotation system operated by OTC Markets and traded under the symbol HPHW. Prior to May 2, 2017, Hooper Holmes's common stock was traded on the New York Stock Exchange market. WH-HH Holdings, LLC, an affiliate of Century Equity Partners, owns 12,519,259 shares of Hooper Holmes's common stock, which represents 46.77% of Hooper Holmes's outstanding common stock. Further, John Pappajohn owns 2,145,930 shares of Hooper Holmes's common stock, which represents 8.02% of the stock outstanding. Sale of Assets James E. Fleet, CRO, explains that the most significant factor leading to the commencement of the chapter 11 cases is the amount of debt on the Debtors' balance sheet. The Debtors have incurred year-over-year losses from operations with negative cash flows. To fund the Debtors' operations, the Debtors' have incurred debt in the ordinary course. Further, recent mergers and acquisitions by the Debtors have added significant debt to the Debtors' balance sheet, resulting in unsustainable leverage. Out of court refinancing of the Revolving Credit Facility and the Term Loan Facility have been unsuccessful. Prior to the Petition Date, the Debtors commenced a marketing process for the sale of substantially all of their assets. On Aug. 27, 2018, the Debtors entered into an asset purchase agreement with Summit Health, Inc. Pursuant to the terms of the Stalking Horse APA, the Debtors agreed to sell the assets to the Stalking Horse Bidder for $27 million in cash, plus the assumption of certain liabilities, subject to certain adjustments. Importantly, the Stalking Horse APA provides that the Debtors will assume and assign to the Stalking Horse Bidder certain executory contracts and leases. Moreover, within one day of the execution of the Stalking Horse APA, the Stalking Horse Bidder will deposit $2.7 million in escrow. The Debtors and the Stalking Horse Bidder expect to close the Sale Transaction in early October, subject to customary closing conditions and approval by the Court. The Stalking Horse APA represents a binding bid for substantially all of the Debtors' assets. The total Consideration to be realized by the Debtors is $27 million, plus the assumption of certain liabilities, subject to certain adjustments. In addition, pursuant to the terms of the Stalking Horse APA, the Stalking Horse Bidder and the Debtors will execute a transition services agreement, whereby the Debtors will provide interim services to the Stalking Horse Bidder. The TSA not only ensures a smooth post-closing transition of the Debtors' business, but also preserves a number of key jobs for existing employees of the Debtors at least through Dec. 31, 2018. The Bidding Procedures and the Stalking Horse APA contain certain bid protections, including an initial overbid requirement and subsequent bid increments. The Stalking Horse APA also includes a provision for the payment of a break-up fee representing 3.5% of the Purchase Price and an expense reimbursement up to a cap of $300,000. The Break-Up Fee and Expense Reimbursement were material inducements for the Stalking Horse Bidder to make a binding bid that will serve as a floor price at any auction. DIP Financing To fund the Chapter 11 process, CNH and SWK, the lenders under the Prepetition Debt Facilities have agreed to continue to provide post-petition debtor-in-possession financing, pursuant to the terms of certain agreements, in the aggregate amount of $13.6 million. Specifically, CNH has agreed to continue to provide a $12.0 million postpetition DIP revolving facility on terms similar to those provided under the Revolving Credit Facility. In addition, SWK has agreed to provide $1.6 million in a term loan facility on terms similar to those provided under the Term Loan Facility. The financing provided by the DIP Lenders requires that the sale close no later than Oct. 26, 2018. About Hooper Holmes Headquartered in Olathe, Kansas, Hooper Holmes, Inc., provides comprehensive health and well-being programs offered through organizations' sponsorship. Hooper Holmes, founded in 1899, is a publicly-traded New York corporation (OTXQX: HPHW). In 2015, Hooper Holmes acquired substantially all of the assets of Accountable Health Solutions, Inc. In 2017, Hooper Holmes merged with Provant Health Solutions, LLC. Hooper Holmes, Inc., and its affiliates sought Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 18-23302) on Aug. 27, 2018. Hooper Holmes reported total assets of $30,232,000 and total debt of $46,839,000 as of June 30, 2018. The Hon. Robert D. Drain is the case judge. FOLEY & LARDNER LLP, led by Richard J. Bernard, John P. Melko, Jill Nicholson, and Geoff Goodman, serves as counsel to the Debtors. HALPERIN BATTAGLIA BENZIJA, LLP, is the conflicts counsel. SPENCER FANE LLP is the securities counsel. PHOENIX MANAGEMENT SERVICES is the financial advisor. RAYMOND JAMES & ASSOCIATES, INC., is the investment banker. EPIQ CORPORATE RESTRUCTURING, LLC, is the claims agent. J CREW GROUP: Reports $6 Million Net Loss for Second Quarter ------------------------------------------------------------ J.Crew Group, Inc. has filed with the Securities and Exchange Commission its Quarterly Report on Form 10-Q reporting a net loss of $6.09 million on $587.57 million of total revenues for the 13 weeks ended Aug. 4, 2018, compared to a net loss of $18.47 million on $570.66 million of total revenues for the 13 weeks ended July 29, 2017. The second quarter this year reflects the impact of the benefit related to the lease termination payment and transformation costs. The second quarter last year reflects the impact of transformation costs, transaction costs and non-cash impairment charges. For the 26 weeks ended Aug. 4, 2018, the Company reported a net loss of $40.01 million on $1.12 billion of total revenues compared to a net loss of $139.47 million on $1.09 billion of total revenues for the 26 weeks ended July 29, 2017. As of Aug. 4, 2018, the Company had $1.23 billion in total assets, $2.42 billion in total liabilities and a total stockholders' deficit of $1.18 billion. Gross margin increased to 38.5% from 38.2% in the second quarter last year. Selling, general and administrative expenses were $192.7 million, or 32.8% of revenues, compared to $209.1 million, or 36.6% of revenues in the second quarter last year. This year and last year include transformation, transaction and severance costs of $1.8 million and $27.7 million, respectively. This year also includes a $7.3 million benefit related to the lease termination payment in connection with our corporate office relocation. Excluding these items, selling, general and administrative expenses were $198.2 million, or 33.7% of revenues, compared to $181.4 million, or 31.8% of revenues in the second quarter last year. Operating income was $33.3 million compared to $4.8 million in the second quarter last year. The second quarter this year reflects the impact of the benefit related to the lease termination payment and transformation costs. The second quarter last year reflects the impact of transformation costs, transaction costs and non-cash impairment charges. Adjusted EBITDA was $54.2 million compared to $65.3 million in the second quarter last year. Jim Brett, chief executive officer, remarked, "As we report an acceleration in comparable sales growth for the Company to 5%, we also celebrate a watershed moment as we return to positive comparable growth in our J.Crew brand for the first time in four years and continued stellar performance at Madewell with 28% comparable sales growth - which we believe puts Madewell solidly on a path to becoming a $1 billion brand. Achieving these results prior to our September 10th planned launch of the New Crew is a reflection of the foundation that has been built over the last year. Our financial results reflect revenue growth, continued expansion in gross margin and a marked shift in expense from significant costs last year that were needed to restructure our business, to planned investments this year in support of our aggressive strategic growth agenda – which we expect will allow us to scale the business and return to bottom line net profitability in the coming year. The third quarter will reflect the next evolution of our products, brands, experiences and culture, designed to reflect today's America." First Half highlights: * Total revenues increased 3% to $1,128.0 million. Comparable company sales increased 3% following a decrease of 7% in the first half last year. * J.Crew sales decreased 6% to $820.7 million. J.Crew comparable sales decreased 3% following a decrease of 10% in the first half last year. * Madewell sales increased 34% to $237.5 million. Madewell comparable sales increased 29% following an increase of 12% in the first half last year. * Gross margin increased to 38.4% from 37.2% in the first half last year. * Selling, general and administrative expenses were $393.5 million, or 34.9% of revenues, compared to $419.6 million, or 38.3% of revenues in the first half last year. This year and last year include transformation, transaction and severance costs of $8.3 million and $46.5 million, respectively. This year also includes a $7.3 million benefit related to the lease termination payment. Excluding these items, selling, general and administrative expenses were $392.5 million, or 34.8% of revenues, compared to $373.1 million, or 34.0% of revenues in the first half last year. * Operating income was $32.4 million compared with operating loss of $146.3 million in the first half last year. Operating income this year reflects the impact of the benefit related to the lease termination payment, non-cash impairment charges and transformation costs. Operating loss last year reflects the impact of non-cash impairment charges, transformation costs, transaction costs and severance costs. * Net loss was $40.0 million compared to $139.5 million in the first half last year. This year reflects the impact of the benefit related to the lease termination payment, non-cash impairment charges and transformation costs. Last year reflects the impact of non-cash impairment charges, transformation costs, transaction costs and severance costs. * Adjusted EBITDA was $91.1 million compared to $94.2 million in the first half last year. Balance Sheet highlights: * Cash and cash equivalents were $34.7 million compared to $62.4 million at the end of the second quarter last year. * Inventories increased 38% to $412.9 million from $299.8 million at the end of the second quarter last year. * Total debt, net of discount and deferred financing costs, was $1,709 million compared to $1,721 million at the end of the second quarter last year. Additionally, there were $25 million of outstanding borrowings under the ABL Facility, with excess availability of $215 million, at the end of the second quarter this year. As of Aug. 28, 2018, there were outstanding borrowings of approximately $67 million under the ABL Facility, with excess availability of approximately $225 million. Debt Exchange and Refinancing On July 13, 2017, the Company completed the following interrelated liability management transactions: * Private Exchange Offer. An exchange offer in which $565.7 million principal outstanding of 7.75%/8.50% Senior PIK Toggle Notes due 2019 issued by the Company's parent were exchanged for (i) $249.6 million of 13% Senior Secured Notes due 2021 and (ii) shares of preferred and common stock of the Company's parent. * Term Loan Amendment. An amendment of the Company's term loan credit facility to, among other things, facilitate the following related transactions: - the repayment of $150.5 million principal amount then outstanding under the Term Loan Facility; - the transfer of the remaining undivided ownership interest in the U.S. intellectual property rights of the J.Crew brand to a subsidiary of the Company which, together with the undivided ownership interest transferred in December 2016, represent 100% of the U.S. intellectual property rights of the J.Crew brand, and the execution of related license agreements; - the issuance of $97.0 million principal amount of an additional series of 13% Senior Secured Notes due 2021, subject to the same terms and conditions as the Exchange Notes, for cash at a 3% discount, the proceeds of which were loaned to the Company and were applied, in part, to finance the repayment of the $150.5 million principal amount of term loans; and - the raising of additional borrowings under the Term Loan Facility of $30.0 million, for cash at a 2% discount, provided by the Company's sponsors, the net proceeds of which were also applied, in part, to finance the repayment of the $150.5 million principal amount of term loans. For more information, see the Company's Form 10-Q for the quarterly period ended Aug. 4, 2018, at https://is.gd/azcX4L About J.Crew Group J.Crew Group, Inc. -- http://www.jcrew.com/-- is an internationally recognized omni-channel retailer of women's, men's and children's apparel, shoes and accessories. As of Aug. 28, 2018, the Company operates 229 J.Crew retail stores, 122 Madewell stores, jcrew.com, jcrewfactory.com, madewell.com, and 175 factory stores (including 42 J.Crew Mercantile stores). J.Crew Group incurred a net loss of $124.95 million for the year ended Feb. 3, 2018, compared to a net loss of $23.51 million for the year ended Jan. 28, 2017. J MENDEL INC: Hires Platzer Swergold as Legal Counsel ----------------------------------------------------- J. Mendel Inc., seeks authority from the U.S. Bankruptcy Court for the Eastern District of New York to employ Platzer, Swergold, Levine, Goldberg, Katz & Jaslow, LLP, as its legal counsel. Platzer Swergold will, among other things: a. assist and advise the Debtor relative to the administration of this proceeding; b. represent the Debtor before the Court and advise the Debtor of pending litigation, hearings, motions, and of the decisions of the court; c. assist and analyze all applications, orders and motions filed with the court by third parties in these proceedings and advise the Debtor of their propriety; d. attend hearings and represent the Debtor at all examinations; e. communicate with creditors; f. assist the Debtor in preparing applications and orders in support of positions taken by the Debtor, as well as prepare witnesses and review documents in this regard; g. confer with any accountants and consultants retained by th eDebtor and/or any other party-in-interest; h. assist the Debtor in its negotiations with creditors or third parties concerning the terms of any proposed plans of reorganization; i. prepare and dreft plans or reorganization and disclosure statements; and j. assist the Debtor in performing such other services as may be in the interest of the Debtor and perform all other services required by the Debtor. The firm's hourly rates are: Clifford A. Katz $610 Andrew Muller $545 Teresa Sadutto-Carley $445 Paralegals $210 Clifford Katz, Esq., at Platzer, disclosed in a court filing that he and his firm are "disinterested" as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Clifford A. Katz, Esq. Platzer, Swergold, Levine, Goldberg Katz & Jaslow, LLP 475 Park Avenue South, 18th Floor New York, NY 10016 Phone: (212) 593-3000 E-mail: ckatz@platzerlaw.com About J. Mendel Inc. J. Mendel Inc. -- https://jmendel.com -- is a designer and manufacturer of apparel for women. The company sells ready to wear designer evening dresses, party dresses, formal gowns & fur. J. Mendel also offers fur storage, cleaning, re-lining, alterations and monogramming services. J. Mendel Inc. filed a Chapter 11 petition (Bankr. E.D.N.Y. Case No. 18-43634) on June 22, 2018. In the petition signed by John Georgiades, president, the Debtor estimated $1 million to $10 million in assets and $10 million to $50 million in liabilities. The case is assigned to Judge Nancy Hershey Lord. Platzer, Swergold, Levine, Goldberg, Katz & Jaslow, LLP, is the Debtor's counsel. JDHG LLC: Monthly Payment to Unsecureds Increased to $2,370 ----------------------------------------------------------- JDHG, LLC, Caribbean Winds, Inc., August Sage Holdings, LLC, and Green Horizon, Inc. filed an amended disclosure statement explaining their joint plan of reorganization. Under the latest plan, Holders of Allowed Priority Tax Claims, secured and unsecured, will be paid in full by Debtors either: (i) upon such terms as may be agreed to with such Holders,(ii) on the later of the Effective Date of the Plan or the date that such Allowed Priority Tax Claims would have been due if the Bankruptcy Cases had not been commenced, or (iii) through 50 consecutive monthly installments of $2,529.02, including the rate of interest prevailing during the month the Plan is confirmed, estimated at 5% per annum. The first installment to be due on the 30th day of the month following the Effective Date and the remaining 49 installments on the 30th day ol' each month thereafter, provided that the payment to the Holders of Allowed Priority Tax Claims is effected in a manner not less favorable than the most favored non-priority unsecured claims provided for in the Plan. The previous version of the plan provided that Holders of Allowed Priority Tax Claims, secured and unsecured, will be paid in full, in cash, on the Effective Date. Holders of Allowed General Unsecured Claims in Class 2 totaling $142,257 will be paid in full satisfaction of their claims 100% through 60 consecutive equal monthly installments of $2,370.95 instead of $2,338.93 previously proposed, commencing on the 30th day of the month following the Effective Date and continuing on the 30th day of the following 59 months. A copy of the Disclosure Statement dated Aug. 8 from PacerMonitor.com is available at https://tinyurl.com/yahxmz9v at no charge. A full-text copy of the Amended Disclosure Statement is available at: http://bankrupt.com/misc/prb18-02810-11-46.pdf A full-text copy of the Joint Plan is available at: http://bankrupt.com/misc/prb18-02810-11-45.pdf About JDHG LLC JDHG, LLC owns hotel furniture and fixtures at Wind Chimes Inn located in San Juan, Puerto Rico, and boat bar equipment valued at $65,255 in total. The company has accounts receivable of $4.6 million. JDHG sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. P.R. Case No. 18-02810) on May 21, 2018. In the petition signed by John B. Dennis Brull, president, the Debtor disclosed $4.67 million in assets and $19.24 million in liabilities. Judge Mildred Caban Flores presides over the case. KEELER'S MEDICAL: Oct. 4 Plan Confirmation Hearing -------------------------------------------------- Judge Frank L. Kurtz of the U.S. Bankruptcy Court for the Eastern District of Washington issued an order approving the disclosure statement explaining Keeler's Medical Supply, Inc.'s plan of reorganization. September 17, 2018, is fixed as the last date for filing written objections to the confirmation of the Plan, and October 4, at 10:00 A.M., is fixed as the date of hearing of confirmation of the Plan. A Status Conference has also been set on September 25, at 10:30 A.M., at (509) 353-3192 for Telephonic Conference with Judge Kurtz. A copy of the Amended Disclosure Statement from PacerMonitor.com is available at https://tinyurl.com/y8edcu2s at no charge. About Keeler's Medical Supply Keeler's Medical Supply, Inc., is a Washington corporation engaged in the business of selling and leasing medical supplies and equipment as well as providing services related to medical supplies and equipment. Keeler's headquarters and principal place of business are located at 2001 West Lincoln Avenue in Yakima, Washington. Keeler's was formed in 1971. The common stock of Keeler's is owned as follows: (a) 91.35% by the Estate of Sharon Vetsch; (b) 6.51% by Charles E. Vetsch, Jr. (the President and Chief Executive of Keeler's); and (c) 2.14% by Clinton T. Vetsch. Keeler's Medical Supply filed a Chapter 11 petition (Bankr. E.D. Wash. Case No. 17-01849) on June 15, 2017, estimating assets of less than $50,000 and liabilities of $1 million to $10 million. The petition was signed by Charles Vetsch, president. Roger William Bailey, Esq., at Bailey & Busey PLLC, serves as the Debtor's legal counsel. No official committee of unsecured creditors has been appointed in the Chapter 11 case. KINGDOM GOURMET: Taps Margaret McClure as Bankruptcy Attorney ------------------------------------------------------------- Kingdom Gourmet, LLC, seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to hire Margaret McClure, Esq., as its legal counsel. The attorney will advise the Debtor regarding its duties under the Bankruptcy Code and will provide other legal services related to its Chapter 11 case. Ms. McClure charges an hourly fee of $400 while paralegals charge $150 per hour. The attorney received a retainer of $25,000 from Jeffrey Goldstein, the Debtor's sole owner. In a court filing, Ms. McClure disclosed that she does not hold any interest adverse to the interest of the Debtor's estate, creditors and equity security holders. Ms. McClure maintains an office at: Margaret M. McClure, Esq. 909 Fannin, Suite 3810 Houston, TX 77010 Phone: (713) 659-1333 Fax: (713) 658-0334 Email: margaret@mmmcclurelaw.com About Kingdom Gourmet Kingdom Gourmet, LLC, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 18-34509) on Aug. 10, 2018. At the time of the filing, the Debtor estimated assets of less than $1 million and liabilities of less than $500,000. Judge David R. Jones presides over the case. L BRANDS: S&P Cuts Issuer Credit Rating to 'BB', Outlook Negative ----------------------------------------------------------------- S&P Global Ratings lowered its issuer credit rating on Ohio-based L Brands Inc. to 'BB' from 'BB+'. The outlook is negative. S&P said, "At the same time, we lowered our issue-level rating on the company's unsecured notes (with subsidiary guarantees) to 'BB' from 'BB+'. The recovery rating remains '3', indicating our expectation of meaningful (50%-70%; rounded estimate: 65%) recovery in the event of a payment default. "We also lowered our issue-level rating on the company's unsecured notes (without subsidiary guarantees) to 'B+' from 'BB-'. The '6' recovery rating is unchanged, indicating our expectation for negligible (0%-10%; rounded estimate: 0%) recovery. We affirmed the 'BBB-'issue-level rating on the senior secured revolving credit facility, two notches above the issuer credit rating. The '1' recovery rating is unchanged, indicating our expectation for very high (90%-100%; rounded estimate: 95%) recovery in a simulated payment default scenario. "The downgrade reflects our expectation that the core VS brand will continue to struggle to regain its competitive standing. We expect consolidated operating profit will remain under pressure over the next 12 months or longer, despite solid performance by Bath and Body Works. We think adjusted debt to EBITDA will remain over 3x and common dividends will account for roughly half of its reported cash flow from operations, diminishing cash flow credit metrics even with the potential for further reduction in capital spending." The negative outlook on L Brands Inc. reflects S&P Global Ratings' expectation that operating performance will remain pressured over the next 12 months. S&P expects L Brands adjusted debt to EBITDA to remain above 3x and adjusted FFO to debt close to 20% over the next 24 months. S&P said, "We could also lower the rating if we believed shifting consumer preferences would result in more rapid deterioration of the company's VS and PINK banners without sufficient offset from Bath and Body Works. We believe the company's profitability trends would weaken further with no signs of abating and worsening discretionary cash flow lead to weaker liquidity. We could also lower the rating if we expected debt leverage would approach the high-3x area and FFO to debt to decline below 20%. We estimate this could occur if adjusted EBITDA declined by about 15% from our 2019 EBITDA projection. "Although not likely in the next 12 months given our performance expectations, we could revise our outlook to stable if the company were able to demonstrate stabilization in operating performance across all its major brands, particularly VS. This would include positive same store sales and material improvement in merchandise margins." LAND DYNAMICS: Taps Angstman Johnson as Legal Counsel ----------------------------------------------------- Land Dynamics, LLC, seeks approval from the U.S. Bankruptcy Court for the District of Idaho to hire Angstman Johnson as its legal counsel. The firm will assist the Debtor in the preparation of a bankruptcy plan; review claims of creditors; and provide other legal services related to its Chapter 11 case. The firm's hourly rates range from $95 to $325. Matthew Christensen, Esq., a partner at Angstman Johnson and the attorney who will be handling the case, charges $325 per hour. Angstman Johnson received a retainer of $22,000 from the Debtor. Mr. Christensen disclosed in a court filing that he and his firm are "disinterested persons" as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Matthew T. Christensen, Esq. Angstman Johnson 3649 N. Lakeharbor Lane Boise, ID 83703 Phone: (208) 384-8588 Fax: (208) 853-0117 Email: mtc@angstman.com About Land Dynamics LLC Land Dynamics, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Idaho Case No. 18-40739) on Aug. 21, 2018. At the time of the filing, the Debtor estimated assets of less than $500,000 and liabilities of less than $1 million. Judge Joseph M. Meier presides over the case. LANE-GLO BOWL: Hires Overbeck CPA as Accountant ----------------------------------------------- Lane-Glo Bowl, Inc., and Lane-Glo Lanes North, Inc., seek authority from the US Bankruptcy Court for the Middle District of Florida (Tampa) to hire Michele Overbeck, CPA, as accountant. Overbeck CPA will assist the Debtor with regard to the closing of the Debtors prepetition books and records, opening new books and records post-petition, preparing Monthly Operating Reports, and state and federal monthly, quarterly and annual tax documents returns. Michele Overbeck, CPA, will be paid a $2,000.00 post-retainer upon approval of this Application, an ongoing monthly payment of $500 for the reconciliation of bank statements, the preparation of Monthly Operating Reports and State Sales tax returns, and bookkeeping services. The normal hourly rate of Michele Overbeck, CPA is $75.00 per hour for CPA services, and $25.00 for bookkeeping services. Michele Overbeck, CPA, does not hold or represent any interest adverse to the Debtors or its estate in the matters upon which it is to be engaged, other than they did receive monies from the Debtor prepetition for accounting services rendered. The accountant can be reached through: Michele A. Overbeck, CPA Overbeck CPA 7243 Bryan Dairy Road Largo, FL 33777 Phone: (727) 807-3399 Fax: (727) 807-6914 E-mail: michele@overbeckcpa.com About Lane-Glo Bowl Lane-Glo Bowl, Inc., filed a voluntary Chapter 11 petition (Bankr. M.D. Fla. Case No. 18-05861) on July 16, 2018, listing under $1 million in both assets and liabilities and is represented by Joel S. Treuhaft, Esq., at Palm Harbor Law Group, P.A. MARK A ELLIS: Taps W. Thomas Bible as Legal Counsel --------------------------------------------------- Mark A. Ellis, DMD, PLLC, received approval from the U.S. Bankruptcy Court for the Eastern District of Tennessee to hire the Law Office of W. Thomas Bible, Jr. as its legal counsel. The firm will advise the Debtor regarding its duties under the Bankruptcy Code; assist in the preparation of a plan of reorganization; investigate and institute legal action to collect and recover assets of the estate; and provide other legal services related to its Chapter 11 case. W. Thomas Bible will charge these hourly rates: Tom Bible, Esq. $250 Robert Wilkinson, Esq. $250 Paralegals $105 The firm received an initial retainer in the sum of $5,800. The firm and its attorneys are "disinterested persons" as defined in section 101(14) of the Bankruptcy Code, according to court filings. W. Thomas Bible can be reached through: W. Thomas Bible, Jr., Esq. Law Office of W. Thomas Bible, Jr. 6918 Shallowford Road, Suite 100 Chattanooga, TN 37421 Phone: (423)424-3116 Fax: (423) 553-0639 Email: tom@tombiblelaw.com About Mark A. Ellis, D.M.D. Mark A. Ellis, D.M.D., PLLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Tenn. Case No. 18-11917) on April 30, 2018. At the time of the filing, the Debtor estimated assets of less than $100,000 and liabilities of less than $500,000. Judge Shelley D. Rucker presides over the case. MIKES AUTOBODY: U.S. Trustee Forms 3-Member Committee ----------------------------------------------------- Andrew R. Vara, Acting U.S. Trustee for Region 3, on Aug. 21 appointed three creditors to serve on the official committee of unsecured creditors in the Chapter 11 case of Mikes Autobody, Inc. The committee members are: (1) Baierl Chevrolet, Inc. c/o Christina Malkin P.O. Box 353 Ingomar, PA 15127 Tel: (412) 310-0604 Fax: (724) 940-2178 E-mail: christinamalkin@gmail.com (2) BCI Equipment Specialists 113 Sandy Creek Road Verona, PA 15147 Tel: (412) 798-1150 Fax: (412) 798-1153 E-mail: gvalpe@bciequipment.com (3) Keystone Automotive Industries, Inc. 615 Alpha Drive Pittsburgh, PA 15238 Tel: (412) 406-6001 Fax: (724) 339-1833 E-mail: jkiehlmeier@lkqcorp.com 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 Mikes Autobody Inc. Mikes Autobody, Inc., sought protection under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Pa. Case No. 18-22787) on July 11, 2018. At the time of the filing, the Debtor estimated assets of less than $500,000 and liabilities of $1,000,001 to $10 million. Judge Jeffery A. Deller presides over the case. MONEYONMOBILE INC: Withdraws Form 15 Deregistration Notice ---------------------------------------------------------- MoneyOnMobile, Inc. has withdrawn its Form 15 filed with the Securities and Exchange Commission on Aug. 22, 2018, regarding the termination of the registration of its common stock under Section 12(g) of the Securities Exchange Act of 1934. About MoneyOnMobile MoneyOnMobile, Inc., headquartered in Dallas, Texas -- http://www.money-on-mobile.com/-- is a global mobile payments technology and processing company offering mobile payment services through its Indian subsidiary. MoneyOnMobile enables Indian consumers to use mobile phones to pay for goods and services or transfer funds from one cell phone to another. It can be used as simple SMS text functionality or through the MoneyOnMobile application or internet site. MoneyOnMobile reported a net loss of $13.09 million for the year ended March 31, 2017, following a net loss of $19.72 million for the year ended March 31, 2016. The Company's balance sheet at Dec. 31, 2017, showed $27.67 million in total assets, $30.02 million in total liabilities, $1.22 million in preferred stock Series D, $5.70 million in preferred stock Series F, and a total stockholders' deficit of $9.27 million. Liggett & Webb, P.A., in New York, issued a "going concern" opinion in its report on the consolidated financial statements for the year ended March 31, 2017, noting that the Company has experienced recurring operating losses and negative cash flows from operating activities. These conditions raise substantial doubt about the Company's ability to continue as a going concern. MORAN FOODS: Moody's Cuts CFR & Sr. Sec. Term Loan Rating to 'B3' ----------------------------------------------------------------- Moody's Investors Service downgraded the Corporate Family Rating and Probability of Default Rating of Moran Foods LLC, the parent of Save-A-Lot Holdings, LLC. to B3 and B3-PD from B2 and B2-PD respectively. Moody's also downgraded the rating of the company's senior secured term loan to B3 from B2. The ratings are on review for downgrade. "The company's operating performance has been significantly below our expectations and improvements in revenue and profits will be difficult as the hard discount grocery space becomes more competitive", Moody's Senior Credit Officer Mickey Chadha stated. "Therefore, we expect operating margins to remain very thin with weak interest coverage and no material improvement in credit metrics in the next 12 months", Chadha further stated. Downgrades: Issuer: Moran Foods LLC Probability of Default Rating, Downgraded to B3-PD from B2-PD; Placed Under Review for Downgrade Corporate Family Rating, Downgraded to B3 from B2; Placed Under Review for Downgrade Senior Secured Bank Credit Facility, Downgraded to B3 (LGD4) from B2 (LGD4); Placed Under Review for Downgrade Outlook Actions: Issuer: Moran Foods LLC Outlook, Changed To Under Review From Stable RATINGS RATIONALE The company's B3 Corporate Family Rating reflects its weak credit metrics with lease adjusted debt/EBITDA expected to be about 6.5x at the end of fiscal 2018 and EBIT/interest expected to be below 1x. Moody's does not expect any material improvement in metrics in the next 12 months as competitive pressures continue to negatively impact margins and same store sales. With about 1,250 stores including 806 licensed stores, Save-A-Lot is the second largest hard discount grocery store operator in the U.S. behind Aldi, which plans to aggressively expand its store base across the U.S. New entrants like Lidl into the U.S. hard discount grocery market could also create additional competitive pressure on Save-A-Lot in the longer term. Save-A-Lot's year to date total network same store sales have declined 4.8% with Q2 2018 same store sales declining 6.1% primarily due to lower purchases from its licensees. Pricing pressure continues to be intense and has forced the company to continue to lower pricing, negating any positive impact of cost cuts to the bottom line. Although Save-A-Lot's licensee store base enables capital efficient growth while leveraging its distribution network and purchasing scale, the lack of centralized control to ensure uniformly competitive pricing at the licensee stores can erode customers perception of Save-A-Lot being a low price alternative. Moody's continues to believe that the hard discount food retail sector is well positioned for growth relative to other retail channels given its low price points and relative resistance to economic cycles and e-commerce albeit still in a very highly competitive operating environment. The majority of Save-A-Lot customers remain financially strapped as wage growth has been lagging. Save-A-Lot's overall liquidity is currently good but Moody's expects the company to burn a significant amount of cash on the next 12 months which might necessitate borrowing under its revolving credit facility to fund capital expenditures if operating performance does not improve thereby weakening liquidity. Volatility in financial policies inherent with ownership by a financial sponsor is also a rating factor. The review for downgrade is based upon Moody's view that the competitive environment is getting tougher with very little pricing power for Save-A-Lot in light of the pricing pressure permeating throughout the supermarket sector and the aggressive expansion by Aldi. Although the company has undertaken a significant transformation plan since being acquired at the end of 2016, management initiatives will take time to implement and their success is uncertain at this time. Moody's review of Moran Foods will primarily consider: (1) management's strategic plan to remain competitive and improve operating performance of the company; and (2) liquidity. Given the review for downgrade an upgrade is unlikely in the near term. In the longer term ratings could be upgraded if debt/EBITDA is sustained below 5.25x, EBIT/interest is sustained above 1.25x, financial policies remain benign and liquidity is to improve. Ratings could be downgraded is the company's cash flow and liquidity deteriorates, same store sales growth and operating margins continue to deteriorate or financial policies become aggressive. Quantitatively ratings could be downgraded if debt/EBITDA is sustained above 6.5x or EBIT/interest does not demonstrate sustained improvement towards 1.1x. Save-A-Lot is a hard discount grocery store operator with 1,250 stores of which 806 are operated by licensees. The company is owned by Onex partners. LTM revenues totaled approximately $4.2 billion. NAVILLUS TILE: Unsecureds Estimated to Recover 9% Under New Plan ---------------------------------------------------------------- Navillus Tile Inc., d/b/a Navillus Contracting, submits an amended disclosure statement with respect to a consensual amended chapter 11 plan of reorganization. The Disclosure Statement and Plan are being proposed by Navillus with the support of the Committee and the Union Parties. As previously reported by The Troubled Company Reporter, Navillus on Aug. 17, 2018, announced the resolution of its dispute with unions, allowing the company to proceed with exiting Chapter 11 bankruptcy by early October 2018. Throughout the Chapter 11 process, Navillus, which currently maintains a $750M project workload, has continued work on all its major projects without interruption, and has continued to bid on new work. During the process Navillus has not lost a single contract, has retained its management team, and has grown its leadership ranks. Class 5 General Unsecured Claims have been resolved or ruled on by the Bankruptcy Court. Each Holder of an Allowed General Unsecured Claim will receive in full the lesser of (i) 10% percent of the Allowed amount of its Allowed General Unsecured Claim; or (ii) its Pro Rata Share of $600,000 dollars. Estimated recovery for this class is 9%. Class 5 is impaired. The Debtor's financial projections indicate that Reorganized Navillus should have sufficient cash flow to fund its operations and fund Distributions in light of the fact that Distributions will primarily be funded through a one-time payment on or around the Effective Date from the proceeds of the Exit Financing to be provided by Liberty. The Projections further demonstrate that Reorganized Navillus should have sufficient cash flow to satisfy its debt service obligations to Liberty. A full-text copy of the Amended Disclosure Statement is available at: http://bankrupt.com/misc/nysb17-13162-595.pdf About Navillus Tile Navillus Tile Inc., is one of the largest subcontractors and general contractors in New York, specializing as a high-end concrete and masonry subcontractor on large private and public construction projects in the New York metropolitan area. Navillus works closely with many of New York's most prominent architects, builders, owners, government agencies and institutions and is pre-qualified by numerous commercial and government agencies. Navillus operates its business from a midtown Manhattan headquarters which it has leased since 2015. Donald O'Sullivan, which founded the business with his brothers, is the sole director, president and chief executive officer of Navillus. Navillus Tile filed for Chapter 11 bankruptcy (Bankr. S.D.N.Y. Case No. 17-13162) on Nov. 8, 2017, estimating $100 million to $500 million in assets and debt. Judge Sean H. Lane is the case judge. Cullen and Dykman LLP is the Debtor's legal counsel. Otterbourg P.C., serves as special litigation and conflicts counsel. Garden City Group, LLC, is the claims agent and administrative advisor. On Nov. 28, 2017, the U.S. Trustee for Region 2 appointed an official committee of unsecured creditors. Hahn & Hessen LLP is the committee's bankruptcy counsel. NMSOOH INC: Taps Margolin Winer as Accountant --------------------------------------------- NMSOOH, Inc. and NMS Fabrications, Inc., seek approval from the U.S. Bankruptcy Court for the Eastern District of New York to hire Margolin, Winer & Evens LLP as its accountant. The firm will prepare the Debtors' tax returns; assist in the formulation of a plan of reorganization; provide consulting services related to financial and business matters; and provide other accounting services. The firm will charge these hourly rates: Engagement Partner $545 Tax Partner $555 Manager $275 - $480 Supervisor $235 - $270 Staff $150 - $230 Alan Materazo, a certified public accountant employed with Margolin, disclosed in a court filing that his firm is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Alan P. Materazo Margolin, Winer & Evens LLP 400 Garden City Plaza, 5th Floor Garden City, NY 11530-3323 Tel: 516-747-2000 / 516-240-4413 Fax: 516-747-6707 Email: Amaterazo@mwellp.com About NMSOOH, Inc., d/b/a National Media Services NMSOOH, Inc., based in Copiague, NY, and its affiliates sought Chapter 11 protection (Bankr. E.D.N.Y. Lead Case No. 18-72671) on April 20, 2018. The Hon. Louis A. Scarcella (18-72671) and Robert E. Grossman (18-72675), preside over the cases. In the petition signed by Eric S. Drucker, president and CEO, the Debtors estimated up to $50,000 in assets and $1 million to $10 million in liabilities. Richard J. McCord, a partner of Certilman Balin Adler & Hyman, LLP, serves as bankruptcy counsel. NORTHERN OIL: Stockholders Elected 8 Directors ---------------------------------------------- At the 2018 Annual Meeting of Stockholders of Northern Oil and Gas, Inc. held on Aug. 23, 2018, the Company's stockholders: (1) elected Bahram Akradi, Lisa Bromiley, Roy Easley, Michael Frantz, Robert Grabb, Jack King, Joseph Lenz and Michael Popejoy as directors; (2) ratified the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm for the fiscal year ending Dec. 31, 2018; (3) approved an amendment to the Company's certificate of incorporation to increase the number of authorized shares of common stock to 675,000,000; (4) approved the Company's new 2018 Equity Incentive Plan; and (5) approved, on an advisory basis, the compensation of the Company's executive officers as disclosed in the definitive proxy statement relating to the Annual Meeting. The 2018 Plan will replace the Company's existing 2013 Incentive Plan, which is the only plan under which equity awards are currently being granted. No new awards will be made under the 2013 Plan. The number of shares of the Company's common stock that may be the subject of awards and issued under the 2018 Plan is 15,000,000, plus any shares remaining available for future grants under the 2013 Plan on the effective date of the 2018 Plan. Awards outstanding under the 2013 Plan as of the date the 2018 Plan becomes effective will continue to be subject to the terms of the 2013 Plan, but if those awards subsequently expire, are forfeited or cancelled or are settled in cash, the shares subject to those awards will become available for awards under the 2018 Plan. In accordance with the action of the stockholders at the Annual Meeting, effective as of Aug. 23, 2018, the Company amended its Certificate of Incorporation to increase the number of authorized shares of common stock to 675,000,000. About Northern Oil Minnetonka, Minnesota-based Northern Oil and Gas, Inc. -- http://www.NorthernOil.com/-- is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties, primarily in the Bakken and Three Forks formations within the Williston Basin in North Dakota and Montana. Northern Oil reported a net loss of $9.19 million in 2017, a net loss of $293.5 million in 2016, and a net loss of $975.4 million in 2015. As of June 30, 2018, Northern Oil had $883.08 million in total assets, $1.03 billion in total liabilities and a total stockholders' deficit of $147.82 million. * * * In May 2018, Moody's Investors Service upgraded Northern Oil and Gas, Inc.'s (NOG) Corporate Family Rating (CFR) to 'Caa1' from 'Caa2' and Probability of Default Rating (PDR) to 'Caa1-PD/LD' from 'Caa2-PD'. The upgrade of NOG's CFR to Caa1 reflects its improved leverage profile, reduced refinancing risk associated with the remaining $203 million of notes due June 2020, and Moody's expectation that the company will grow production and operating cash flows. NORTHERN POWER: Robert Lentz Resigns as Director ------------------------------------------------ Robert Lentz notified Northern Power Systems Corp. of his decision to resign as a member of the Board of Directors of the Company, effective on Aug. 21, 2018. At the time of Mr. Lentz's resignation, he was an independent director and member of the Board's Audit Committee. Mr. Lentz indicated that his decision to resign was not a result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices, according to a Form 8-K filed with the Securities and Exchange Commission. About Northern Power Systems Northern Power Systems -- http://www.northernpower.com/-- designs, manufactures, and sells distributed power generation and energy storage solutions with its advanced wind turbines, inverters, controls, and integration services. With approximately 22 million run-time hours across its global fleet, Northern Power wind turbines provide customers with clean, cost-effective, reliable renewable energy. NPS turbines utilize patented permanent magnet direct drive (PMDD) technology, which uses fewer moving parts, delivers higher energy capture, and provides increased reliability thanks to reduced maintenance and downtime. Northern Power also develops Energy Storage Solutions (ESS) based on the FlexPhase power converter platform, which features patented converter architecture and controls technology for advanced grid support and generation applications. Northern Power reported net income of $59,000 for the year ended Dec. 31, 2017, compared to a net loss of $8.94 million for the year ended Dec. 31, 2016. As of June 30, 2018, Norther Power had $8.92 million in total assets, $13.90 million in total liabilities and a total shareholders' deficiency of $4.97 million. RSM US LLP, in Boston, Massachusetts, the Company's auditor since 2014, issued a "going concern" opinion in its report on the consolidated financial statements for the year ended Dec. 31, 2017, citing that the Company has suffered recurring cash losses from operations and its total liabilities exceed its total assets. This raises substantial doubt about the Company's ability to continue as a going concern. OGHI LLC: U.S. Trustee Unable to Appoint Committee -------------------------------------------------- No official committee of unsecured creditors has been appointed in the Chapter 11 case of OGHI, LLC, as of Aug. 21, according to a court docket. About OGHI, LLC Glacier Ice and Snow Arena is a 40,000-square foot facility, located in the heart of South Florida. The Arena is on Federal Highway just North of Sample Road at 4601 N. Federal Highway, Pompano Beach, Florida 33064. It is equipped with a pro shop, snack bar, party rooms, locker rooms, an NHL-sized rink, and a mini rink. OGHI, LLC dba Glacier Ice and Snow Arena filed for Chapter 11 bankruptcy protection (Bankr. S.D. Fla. Case No. 18-18498) on July 13, 2018, estimating its assets at up to $50,000 and its liabilities at between $1 million and $10 million. The petition was signed by Terry Cudmore, manager. Bradley S. Shraiberg, Esq., and Max J. Smith, Esq., at Shraiberg, Landau & Page, PA, serve as the Debtor's bankruptcy counsel. Judge Raymond B. Ray presides over the case. PACIFIC DRILLING: Court Approves $1.5-Bil. Exit Financing --------------------------------------------------------- BankruptcyData.com reported that the Court hearing the Pacific Drilling case has authorized the Debtors to enter into an exit financing commitment letter and related agreements. BankruptcyData previously reported, "The funds necessary for the Debtors to consummate the transactions described in the Plan and assure adequate working capital post-emergence requires entry into a series of financing transactions. First, the Plan contemplates a new $700 million issuance of senior secured first lien notes (the 'New First Lien Notes') due in 2023. The New First Lien Notes financing is a committed financing provided by Credit Suisse Securities (USA) LLC ('CS Securities') and will be secured on a first-priority basis. Second, the Plan contemplates a new $300 million issuance of senior secured second lien PIK toggle notes maturing seven years after their issuance, with interest payable either fully in kind or, at the Debtors' election, subject to restrictions contained in the documentation for the New First Lien Notes, in cash, secured on a second-priority basis by the Collateral (the 'New Second Lien PIK Toggle Notes' and, together with the New First Lien Notes, the 'New Notes'). Finally, the Plan contemplates a $500 million rights offering, which will provide Eligible Holders (in each case, as defined in the Rights Offering Procedures Motion) the right to purchase new shares of reorganized PDSA (the 'New Common Shares'), and which will be fully committed by the Ad Hoc Group. As described in the Plan, the proceeds of the New Notes and the Rights Offering will be used to substantially deleverage the Debtors' balance sheet and assure adequate working capital post-emergence. The ability to issue the New Notes is fundamental to the Debtors' ability to consummate the Plan. For CS Securities to act as exclusive bookrunning managing initial purchaser with respect to the New Notes, and to commit to purchase the New First Lien Notes, the Debtors seek authorization to enter into the following documents (collectively, the 'Commitment Documents') relating to the New First Lien Notes (the 'First Lien Exit Facility') and the New Second Lien PIK Toggle Notes (the 'Second Lien Exit Facility' and, together with the First Lien Exit Facility, the 'Exit Facilities'). The Commitment Letter (the 'Commitment Letter') by and between PDSA and CS Securities to, among other things, (i) arrange the First Lien Exit Facility in the aggregate principal amount of not less than $700 million, (ii) arrange, on an uncommitted basis, the Second Lien Exit Facility (subject to the Second Lien Commitment Agreement), and (iii) execute and deliver a purchase agreement to purchase up to $700 million in aggregate principal amount of New First Lien Notes, in each case on the terms and subject to the conditions specified therein; and that certain Fee Letter (the 'Fee Letter') by and between CS Securities and PDSA relating to the payment of certain premiums, fees and expenses relating to the Commitment Letter. The Exit Facilities provide the foundation for the Reorganized Debtors' capital structure at emergence and are central components of the Plan." About Pacific Drilling Pacific Drilling S.A. (OTC: PACDQ) a Luxembourg public limited liability company (societe anonyme), operates an international offshore drilling business that specializes in ultra-deepwater and complex well construction services. Pacific Drilling -- http://www.pacificdrilling.com/-- owns seven high-specification floating rigs: the Pacific Bora, the Pacific Mistral, the Pacific Scirocco, the Pacific Santa Ana, the Pacific Khamsin, the Pacific Sharav and the Pacific Meltem. All drillships are of the latest generations, delivered between 2010 and 2014, with a combined historical acquisition cost exceeding $5.0 billion. The average useful life of a drillship exceeds 25 years. On Nov. 12, 2017, Pacific Drilling S.A. and 21 affiliates each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 17-13193). The cases are pending before the Honorable Michael E. Wiles and are jointly administered. Pacific Drilling disclosed $5.46 billion in assets and $3.18 billion in liabilities as of Sept. 30, 2017. The Debtors tapped Sullivan & Cromwell LLP as bankruptcy counsel but was later replaced by Togut, Segal & Segal LLP; Evercore Partners International LLP as investment banker; AlixPartners, LLP, as restructuring advisor; Alvarez & Marsal Taxand, LLC as executive compensation and benefits consultant; Ince & Co LLP and Jones Walker LLP as special counsel; and Prime Clerk LLC as claims and noticing agent. The RCF Agent tapped Shearman & Sterling LLP, as counsel, and PJT Partners LP, as financial advisor. The ad hoc group of RCF Lenders engaged White & Case LLP, as counsel. The SSCF Agent tapped Milbank Tweed, Hadley & McCloy LLP, as counsel, and Moelis & Company LLC, as financial advisor. The Ad Hoc Group of Various Holders of the Ship Group C Debt, 2020 Notes and Term Loan B tapped Paul, Weiss, Rifkind, Wharton & Garrison, in New York as counsel. * * * On Aug. 1, 2018, Pacific Drilling S.A. filed a Chapter 11 plan of reorganization based on the proposal presented to the Company's Board of Directors by an ad hoc group of its secured creditors. Pursuant to the Plan, the Company expects to raise $1.5 billion of new capital comprised of $1.0 billion in a combination of first and second lien secured notes and $500 million of equity. PACIFIC DRILLING: Exclusive Plan Filing Extended Thru Oct. 29 ------------------------------------------------------------- BankruptcyData.com reported that the Court hearing the Pacific Drilling S.A. case extended the periods during which the Debtors have an exclusive right to file a Chapter 11 Plan and Disclosure Statement, and solicit acceptance thereof, through and including October 29, 2018 and December 28, 2018, respectively. BankruptcyData previously reported, "This Motion is only the Debtors' third request for an extension of the Exclusive Periods. The Debtors are not seeking an extension to unfairly prejudice or pressure creditors. To the contrary, the Proposed Plan, which is based on a structure that grew out of the Mediation, has the support of all major impaired creditor constituencies. Moreover, the extension of the Exclusive Periods will not prejudice QP which, pursuant to the Seventh Exclusivity Order, is permitted to file the QP Group's Proposed Order on the QP Group's Oral Motion. If the Court grants the QP Group's Oral Motion, the QP Group plan will have the opportunity to be solicited on the same timeline as the Proposed Plan, subject to the resolution of objections of any parties in interest to the QP Group's Proposed Order and the QP Group's Oral Motion. Furthermore, there is no indication that the Debtors' primary assets (and the Secured Creditor Parties' primary collateral)—their seven vessels—have declined in value in any significant way during these chapter 11 cases. There is also no indication that these vessels will significantly decline in value in the next 90 days. Even if there were some indication that such a decline might be imminent (and there is not), the Secured Creditor Parties are protected from such diminution by the consensual Adequate Protection Order entered by this Court. That Adequate Protection Order permits the Secured Creditor Parties to file superpriority claims for diminution, payable from the Debtors' significant unrestricted cash reserves. Granting the requested extension of the Exclusive Periods is not being used to pressure creditors." About Pacific Drilling Pacific Drilling S.A. (OTC: PACDQ) a Luxembourg public limited liability company (societe anonyme), operates an international offshore drilling business that specializes in ultra-deepwater and complex well construction services. Pacific Drilling -- http://www.pacificdrilling.com/-- owns seven high-specification floating rigs: the Pacific Bora, the Pacific Mistral, the Pacific Scirocco, the Pacific Santa Ana, the Pacific Khamsin, the Pacific Sharav and the Pacific Meltem. All drillships are of the latest generations, delivered between 2010 and 2014, with a combined historical acquisition cost exceeding $5.0 billion. The average useful life of a drillship exceeds 25 years. On Nov. 12, 2017, Pacific Drilling S.A. and 21 affiliates each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 17-13193). The cases are pending before the Honorable Michael E. Wiles and are jointly administered. Pacific Drilling disclosed $5.46 billion in assets and $3.18 billion in liabilities as of Sept. 30, 2017. The Debtors tapped Sullivan & Cromwell LLP as bankruptcy counsel but was later replaced by Togut, Segal & Segal LLP; Evercore Partners International LLP as investment banker; AlixPartners, LLP, as restructuring advisor; Alvarez & Marsal Taxand, LLC as executive compensation and benefits consultant; Ince & Co LLP and Jones Walker LLP as special counsel; and Prime Clerk LLC as claims and noticing agent. The RCF Agent tapped Shearman & Sterling LLP, as counsel, and PJT Partners LP, as financial advisor. The ad hoc group of RCF Lenders engaged White & Case LLP, as counsel. The SSCF Agent tapped Milbank Tweed, Hadley & McCloy LLP, as counsel, and Moelis & Company LLC, as financial advisor. The Ad Hoc Group of Various Holders of the Ship Group C Debt, 2020 Notes and Term Loan B tapped Paul, Weiss, Rifkind, Wharton & Garrison, in New York as counsel. * * * On Aug. 1, 2018, Pacific Drilling S.A. filed a Chapter 11 plan of reorganization based on the proposal presented to the Company's Board of Directors by an ad hoc group of its secured creditors. Pursuant to the Plan, the Company expects to raise $1.5 billion of new capital comprised of $1.0 billion in a combination of first and second lien secured notes and $500 million of equity. PACIFIC DRILLING: U.S. Trustee Appoints Unsecured Creditors Panel ----------------------------------------------------------------- BankruptcyData reported that the U.S. Trustee assigned to the Pacific Drilling case appointed the following members to the Official Committee of Unsecured Creditors]: (i) Craig Weinstock, Sr. V.P. and General Counsel of National Oilwell Varco L.P., (ii) J. David Honeycutt, Exec. V.P. and Chief Financial Officer of AWC, Inc. and (iii) Mr. Michael Slezak. About Pacific Drilling Pacific Drilling S.A. (OTC: PACDQ) a Luxembourg public limited liability company (societe anonyme), operates an international offshore drilling business that specializes in ultra-deepwater and complex well construction services. Pacific Drilling -- http://www.pacificdrilling.com/-- owns seven high-specification floating rigs: the Pacific Bora, the Pacific Mistral, the Pacific Scirocco, the Pacific Santa Ana, the Pacific Khamsin, the Pacific Sharav and the Pacific Meltem. All drillships are of the latest generations, delivered between 2010 and 2014, with a combined historical acquisition cost exceeding $5.0 billion. The average useful life of a drillship exceeds 25 years. On Nov. 12, 2017, Pacific Drilling S.A. and 21 affiliates each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 17-13193). The cases are pending before the Honorable Michael E. Wiles and are jointly administered. Pacific Drilling disclosed $5.46 billion in assets and $3.18 billion in liabilities as of Sept. 30, 2017. The Debtors tapped Sullivan & Cromwell LLP as bankruptcy counsel but was later replaced by Togut, Segal & Segal LLP; Evercore Partners International LLP as investment banker; AlixPartners, LLP, as restructuring advisor; Alvarez & Marsal Taxand, LLC as executive compensation and benefits consultant; Ince & Co LLP and Jones Walker LLP as special counsel; and Prime Clerk LLC as claims and noticing agent. The RCF Agent tapped Shearman & Sterling LLP, as counsel, and PJT Partners LP, as financial advisor. The ad hoc group of RCF Lenders engaged White & Case LLP, as counsel. The SSCF Agent tapped Milbank Tweed, Hadley & McCloy LLP, as counsel, and Moelis & Company LLC, as financial advisor. The Ad Hoc Group of Various Holders of the Ship Group C Debt, 2020 Notes and Term Loan B tapped Paul, Weiss, Rifkind, Wharton & Garrison, in New York as counsel. * * * On August 1, 2018, Pacific Drilling S.A. filed a Chapter 11 plan of reorganization based on the proposal presented to the Company's Board of Directors by an ad hoc group of its secured creditors. Pursuant to the Plan, the Company expects to raise $1.5 billion of new capital comprised of $1.0 billion in a combination of first and second lien secured notes and $500 million of equity. PACIFIC DRILLING: U.S. Trustee Forms 3-Member Committee ------------------------------------------------------- William K. Harrington, U.S. Trustee for Region 2, on Aug. 23 appointed three creditors to serve on the official committee of unsecured creditors in the Chapter 11 case of Pacific Drilling S.A. The committee members are: (1) National Oilwell Varco L.P. Attn: Craig Weinstock, Sr. V.P. and General Counsel 7909 Parkwood Circle Drive Houston, TX 77036 Tel: (713) 346-7611 (2) AWC, Inc. Attn: J. David Honeycutt Exec. V.P. and Chief Financial Officer 6655 Exchequer Drive Baton Rouge, LA 70809 Tel: (225) 408-7613 (3) Michael Slezak 387 CR 416 Elba, Alabama Tel: (334) 282-3286 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 Pacific Drilling Pacific Drilling S.A. (OTC: PACDQ) a Luxembourg public limited liability company (societe anonyme), operates an international offshore drilling business that specializes in ultra-deepwater and complex well construction services. Pacific Drilling -- http://www.pacificdrilling.com/-- owns seven high-specification floating rigs: the Pacific Bora, the Pacific Mistral, the Pacific Scirocco, the Pacific Santa Ana, the Pacific Khamsin, the Pacific Sharav and the Pacific Meltem. All drillships are of the latest generations, delivered between 2010 and 2014, with a combined historical acquisition cost exceeding $5.0 billion. The average useful life of a drillship exceeds 25 years. On Nov. 12, 2017, Pacific Drilling S.A. and 21 affiliates each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 17-13193). The cases are pending before the Honorable Michael E. Wiles and are jointly administered. Pacific Drilling disclosed $5.46 billion in assets and $3.18 billion in liabilities as of Sept. 30, 2017. The Debtors tapped Sullivan & Cromwell LLP as bankruptcy counsel but was later replaced by Togut, Segal & Segal LLP; Evercore Partners International LLP as investment banker; AlixPartners, LLP, as restructuring advisor; Alvarez & Marsal Taxand, LLC as executive compensation and benefits consultant; Ince & Co LLP and Jones Walker LLP as special counsel; and Prime Clerk LLC as claims and noticing agent. The RCF Agent tapped Shearman & Sterling LLP, as counsel, and PJT Partners LP, as financial advisor. The ad hoc group of RCF Lenders engaged White & Case LLP, as counsel. The SSCF Agent tapped Milbank Tweed, Hadley & McCloy LLP, as counsel, and Moelis & Company LLC, as financial advisor. The Ad Hoc Group of Various Holders of the Ship Group C Debt, 2020 Notes and Term Loan B tapped Paul, Weiss, Rifkind, Wharton & Garrison, in New York as counsel. PHILADELPHIA HEALTH: Hires Jackson Lewis, P.C. as Labor Counsel --------------------------------------------------------------- North Philadelphia Health System seeks authority from the United States Bankruptcy Court for the Eastern District of Pennsylvania to Jackson Lewis, P.C. as labor counsel for the Debtor for all matters relating to the renegotiation of the collective bargaining agreements with 1199C, UNOP and PSSU. Andrew D. La Fiura, Esq., principal at the law firm of Jackson Lewis, P.C., attests that his firm does not hold nor represent any interest adverse to the Debtor or its estate. Richard Vitarelli of Jackson Lewis will represent the Debtor during its contract negotiations with 1199C, UNOP and PSSU. Vitarelli's hourly rate will be $400 for any time spent during collective bargaining sessions. All other work performed by any Jackson Lewis attorney will be billed at a flat hourly rate of $325. The counsel can be reached through: Andrew D. La Fiura, Esq. Jackson Lewis, P.C. 1601 Cherry Street, Suite 1350 Philadelphia, PA 19102 Phone: 267-319-7802 Fax: 215-399-2249 About North Philadelphia Health System North Philadelphia Health System, a Pennsylvania non-profit, non-stock, non-member corporation, operates the Girard Medical Center, a state-licensed 65-person private psychiatric hospital, and the Goldman Clinic, a medically assisted treatment center located Philadelphia, Pennsylvania. North Philadelphia Health System sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Pa. Case No. 16-18931) on Dec. 30, 2016. The petition was signed by George Walmsley III, president and CEO. The Debtor estimated assets and liabilities at $10 million to $50 million. The case is assigned to Judge Magdeline D. Coleman. The Debtor hired Martin J. Weis, Esq. at Dilworth Paxson LLP as counsel; John D. Kutzler, Esq., at Buzby & Kutzler, Attorneys at Law, as special counsel; and SSG Advisors as investment banker. On Jan. 23, 2017, the Office of the U.S. Trustee appointed an official committee of unsecured creditors. The committee retained Obermayer Rebmann Maxwell & Hippel LLP as its legal counsel and M S Fox Real Estate Group as consultant. PIONEER ENERGY: Provides Operations & Recent Developments Update ---------------------------------------------------------------- From time to time, senior management of Pioneer Energy Services meets with groups of investors and business analysts. The Company filed with the Securities and Exchange Commission copies of slides that have been prepared in connection with management's participation in those meetings and participation in the SGS Energy & Industrials Conference. The slides provide an update on the Company's operations and certain recent developments, which among others, include the following: Third Quarter 2018 Guidance * U.S. drilling utilization of 100% with average margins per day of $9,700 to $10,200. * International drilling utilization of 85% to 87% with average margins per day of $8,000 to $9,000. * Production services revenues down 3% to 5% sequentially with a gross margin of 23% to 25%. * G&A expense estimated to be approximately $19.5 - $20.0 million. The slides are are available on the Company's website at www.pioneeres.com and on the SEC's website at https://is.gd/o3xgdN About Pioneer Based in San Antonio, Texas, Pioneer Energy Services -- http://www.pioneeres.com-- provides well servicing, wireline, and coiled tubing services to producers in the U.S. Gulf Coast, offshore Gulf of Mexico, Mid-Continent and Rocky Mountain regions through its three production services business segments. Pioneer also provides contract land drilling services to oil and gas operators in Texas, the Mid-Continent and Appalachian regions and internationally in Colombia through its two drilling services business segments. Pioneer Energy reported a net loss of $75.11 million in 2017, a net loss of $128.4 million in 2016, a net loss of $155.1 million in 2015, and a net loss of $38.01 million in 2014. As of June 30, 2018, Pioneer Energy had $757.04 million in total assets, $574.35 million in total liabilities and $182.69 million in total shareholders' equity. * * * Moody's upgraded Pioneer Energy Services' Corporate Family Rating to 'Caa2' from 'Caa3'. Moody's said that Pioneer's 'Caa2' CFR reflects the company's elevated debt balance pro forma for the $175 million senior secured term loan issuance. While the company's operating cash flow is expected to improve due to good demand for its drilling rigs and equipment services, Pioneer Energy Services' leverage metrics are weak, as reported by the TCR on Nov. 13, 2017. RAJYSAN INC: Taps Squar Milner as Accountant -------------------------------------------- Rajysan, Inc., seeks approval from the U.S. Bankruptcy Court for the Central District of California to hire Squar Milner as its accountant. The firm will assist the Debtor in the preparation and filing of its 2017 tax returns and will provide other accounting services required in the Debtor's Chapter 11 case. Squar Milner will be paid a flat fee of $8,000 to $10,000. Shashi Mirpuri, a partner at Squar Milner, disclosed in a court filing that the firm is "disinterested" as defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Shashi Mirpuri Squar Milner 11150 Santa Monica Blvd., Suite 600 Los Angeles, CA 90025 Phone: 818-981-2600 Fax: 818.981.2615 Email: smirpuri@squarmilner.com About Rajysan Inc. Founded in 1984, Rajysan, Incorporated, is a wholesale distributor of industrial machinery and equipment. The Simi Valley, California-based company filed a Chapter 11 petition (Bankr. C.D. Cal. Case No. 17-11363) on July 29, 2017. In the petition signed by Gurpreet Sahani, its president, the Debtor estimated $0 to $50,000 in assets and $1 million to $10 million in liabilities. Judge Peter Carroll presides over the case. The Debtor is represented by Andrew Goodman, Esq., at Goodman Law Offices, APC. On Aug. 31, 2017, the Office of the U.S. Trustee appointed an official committee of unsecured creditors in the Debtor's case. The committee retained Marshack Hays LLP as its bankruptcy counsel, and Force Ten Partners LLC as its financial advisor. RIO MALL: U.S. Trustee Unable to Appoint Committee -------------------------------------------------- No official committee of unsecured creditors has been appointed in the Chapter 11 case of Rio Mall, LLC as of August 27, according to a court docket. About Rio Mall LLC Rio Mall, LLC is a real asset company whose principal assets are located at 3801 Route 9 South Rio Grande, NJ 08242. Rio Mall, LLC filed a Chapter 11 petition (Bankr. S.D. Fla. Case No. 18-17840), on June 28, 2018. In the petition signed by Bruce Frank, manager, the Debtor estimated assets and liabilities at $1 million to $10 million. The case is assigned to Judge Erik P. Kimball. The Debtor is represented by Bradley S. Shraiberg, Esq. at Shraiberg Landau & Page PA. ROCKPORT COMPANY: Seeks to Amend Case Caption to New Corp. Name --------------------------------------------------------------- BankrutpcyData.com reported that the Rockport Company requested Court approval to amend its case caption from "The Rockport Company" to "The Relay Company". Bankruptcy related that the motion explains, "Section 8.17 of the Asset Purchase Agreement requires the Debtors to cease using the name ‘Rockport' and any derivations thereof within ten days of the Closing Date. Accordingly, pursuant to the authority provided in the Sale Order, the Debtors have filed or will file the necessary paperwork with the Secretary of State of Delaware, or other relevant government agency, to accomplish the required name changes from a corporate perspective. Further, the Asset Purchase Agreement requires the Debtors to file this Motion with the Court within ten days of the Closing Date to change the case caption to remove any reference to 'Rockport.' In addition, Local Rule 9004-1 sets forth the information required to be contained in the caption of all Court filings. This information includes the name of the debtor. Further, Local Rule 9004-1(c) provides that the case caption may only be modified by order entered by the Court on a separate motion filed and served in accordance with the Local Rules. The following changes are made to the different affiliates of the Debtor: Rockport Blocker changed to Relay Blocker; The Rockport Group Holdings changed to The Relay Group Holdings; TRG 1-P Holdings changed to Relay 1-P Holdings; TRG Intermediate Holdings changed to Relay Intermediate Holdings; TRG Class D changed to Relay Class D; The Rockport Group changed to The Relay Group; and Rockport Canada ULC changed to Relay Opco Canada ULC." About The Rockport Company The Rockport Company, LLC and its subsidiaries are global designers, distributors, and retailers of comfort footwear in more than 50 markets worldwide. The Rockport Company, et al., sought Chapter 11 bankruptcy protection (Bankr. D. Del. Case No. 18-11145) on May 14, 2018, estimating under $100 million to $500 million in assets and liabilities. The Chapter 11 petitions were signed by Paul Kosturos, the Debtors' interim chief financial officer. Debtor Rockport Canada ULC is the operating entity for the Debtors' business in Canada. Rockport Canada is a wholly-owned subsidiary of Rockport, and all material decisions regarding Rockport Canada and its operations are made by Rockport personnel in the United States. Accordingly, the center of main interests for Rockport Canada is located in the United States. On May 16, 2018, the Debtors commenced an ancillary proceeding under Part IV of the Companies' Creditors Arrangement Act (Canada) in Toronto, Ontario, Canada before the Ontario Superior Court of Justice (Commercial List). The Debtor's counsel are Mark D. Collins, Esq., Michael J. Merchant, Esq., Amanda R. Steele, Esq., Brendan J. Schlauch, Esq., and Megan E. Kenney, Esq., at Richards, Layton & Finger, P.A. The Debtors' Canadian bankruptcy counsel is Borden Ladner Gervais LLP; their investment banker is Houlihan Lokey Capital, Inc.; and their restructuring and interim management advisor is Alvarez & Marsal North America LLC. Prime Clerk serves as the Debtors' claims, noticing agent and administrative advisor. Deloitte Tax LLP, as tax service provider. Counsel to the Prepetition Noteholders and DIP Note Purchasers are My Chi To, Esq., and Daniel E. Stroik, Esq., at Debevoise & Plimpton LLP; Bradford J. Sandler, Esq., and James E. O'Neill, Esq., at Pachulski Stang Ziehl & Jones LLP. Counsel to the Collateral Agent and DIP Notes Agent are Joshua Spencer, Esq., at Holland & Knight LLP; and Bradford J. Sandler, Esq., and James E. O'Neill, Esq., at Pachulski Stang Ziehl & Jones LLP. Counsel to the ABL Administrative Agent and DIP ABL Agent are Donald E. Rothman, Esq., Lon M. Singer, Esq., Jaime Rachel Koff, Esq., and Jeremy Levesque, Esq., at Riemer Braunstein LLP; and Gregory A. Taylor, Esq., at Ashby & Geddes, P.A. Counsel to CB Marathon Opco, LLC, an affiliate of Charlesbank Equity Fund IX, Limited Partnership, the Stalking Horse Bidder, are Jon Herzog, Esq., Joseph F. Bernardi, Jr., Esq., and William Weintraub, Esq., at Goodwin Procter LLP; and David Fournier, Esq., and Evelyn Meltzer, Esq., at Pepper Hamilton LLP. The U.S. Trustee for Region 3 on May 23, 2018, appointed three creditors to serve on the official committee of unsecured creditors in the Chapter 11 case of The Rockport Company LLC. The Committee taps Jay R. Indyke, Esq., Robert Winning, Esq., Sarah A. Carnes, Esq., and Lauren A. Reichardt, Esq., at Cooley LLP, in New York; and Christopher M. Samis, Esq., L. Katherine Good, Esq., and Aaron H. Stulman, Esq., at Whiteford, Taylor & Preston LLC, in Wilmington, Delaware. ROCKPORT COMPANY: Updates on Supplemental Purchased Contracts List ------------------------------------------------------------------ BankruptcyData.com reported that the Rockport Company filed with the Court a supplemental list of purchased contracts assumed and assigned to CB Marathon Opco, LLC, the successful bidder in the Debtors' recently held Section 363 asset sale. The notice states, "Exhibit A is Contracts and Leases identified as Purchased Contracts by the Successful Bidder, following the filing of the initial Purchased Contract Schedule, that were not included on a prior notice listing certain Contracts and Leases that may be potentially assumed and assigned as part of the Sale (the ‘Additional Purchased Contracts'). Contemporaneously herewith, the Debtors have filed the Fourth Supplemental Notice of Assumption and Assignment of Executory Contracts or Unexpired Leases and Cure Costs seeking to assume and assign the Additional Purchased Contracts to the Successful Bidder in accordance with the Bidding Procedures Order [and] the Sale Order. Pursuant to the Asset Purchase Agreement and the Sale Order, all Contracts and Leases that are not identified as Purchased Contracts are deemed ‘Excluded Contracts' under the Asset Purchase Agreement." About The Rockport Company The Rockport Company, LLC and its subsidiaries are global designers, distributors, and retailers of comfort footwear in more than 50 markets worldwide. The Rockport Company, et al., sought Chapter 11 bankruptcy protection (Bankr. D. Del. Case No. 18-11145) on May 14, 2018, estimating under $100 million to $500 million in assets and liabilities. The Chapter 11 petitions were signed by Paul Kosturos, the Debtors' interim chief financial officer. Debtor Rockport Canada ULC is the operating entity for the Debtors' business in Canada. Rockport Canada is a wholly-owned subsidiary of Rockport, and all material decisions regarding Rockport Canada and its operations are made by Rockport personnel in the United States. Accordingly, the center of main interests for Rockport Canada is located in the United States. On May 16, 2018, the Debtors commenced an ancillary proceeding under Part IV of the Companies' Creditors Arrangement Act (Canada) in Toronto, Ontario, Canada before the Ontario Superior Court of Justice (Commercial List). The Debtor's counsel are Mark D. Collins, Esq., Michael J. Merchant, Esq., Amanda R. Steele, Esq., Brendan J. Schlauch, Esq., and Megan E. Kenney, Esq., at Richards, Layton & Finger, P.A. The Debtors' Canadian bankruptcy counsel is Borden Ladner Gervais LLP; their investment banker is Houlihan Lokey Capital, Inc.; and their restructuring and interim management advisor is Alvarez & Marsal North America LLC. Prime Clerk serves as the Debtors' claims, noticing agent and administrative advisor. Deloitte Tax LLP, as tax service provider. Counsel to the Prepetition Noteholders and DIP Note Purchasers are My Chi To, Esq., and Daniel E. Stroik, Esq., at Debevoise & Plimpton LLP; Bradford J. Sandler, Esq., and James E. O'Neill, Esq., at Pachulski Stang Ziehl & Jones LLP. Counsel to the Collateral Agent and DIP Notes Agent are Joshua Spencer, Esq., at Holland & Knight LLP; and Bradford J. Sandler, Esq., and James E. O'Neill, Esq., at Pachulski Stang Ziehl & Jones LLP. Counsel to the ABL Administrative Agent and DIP ABL Agent are Donald E. Rothman, Esq., Lon M. Singer, Esq., Jaime Rachel Koff, Esq., and Jeremy Levesque, Esq., at Riemer Braunstein LLP; and Gregory A. Taylor, Esq., at Ashby & Geddes, P.A. Counsel to CB Marathon Opco, LLC, an affiliate of Charlesbank Equity Fund IX, Limited Partnership, the Stalking Horse Bidder, are Jon Herzog, Esq., Joseph F. Bernardi, Jr., Esq., and William Weintraub, Esq., at Goodwin Procter LLP; and David Fournier, Esq., and Evelyn Meltzer, Esq., at Pepper Hamilton LLP. The U.S. Trustee for Region 3 on May 23, 2018, appointed three creditors to serve on the official committee of unsecured creditors in the Chapter 11 case of The Rockport Company LLC. The Committee taps Jay R. Indyke, Esq., Robert Winning, Esq., Sarah A. Carnes, Esq., and Lauren A. Reichardt, Esq., at Cooley LLP, in New York; and Christopher M. Samis, Esq., L. Katherine Good, Esq., and Aaron H. Stulman, Esq., at Whiteford, Taylor & Preston LLC, in Wilmington, Delaware. SAMUELS JEWELERS: Seeks Approval of Key Employee Pay Programs ------------------------------------------------------------- BankruptcyData.com reported that Samuels Jewelers requested Court approval for (i) a Key Employee Incentive Program ("KEIP"), (ii) a Key Employee Retention Program ("KERP") and (iii) a related seal. The KEIP and KERP motion explains, "The total potential maximum postpetition cost of the KEIP is $836,000, which is equal to 110% of the annual compensation of the KEIP Participants. The KEIP Participants will be eligible for KEIP payments with regard to the Sub-Milestones so long as they are employed and satisfactorily performing their duties when such Sub-Milestone is achieved. In addition, the KEIP Participants will be eligible for KEIP payments with regard to the achievement of the 100% Recoveries so long as they are employed and satisfactorily performing their duties through (a) the closing of a going concern sale or (b) the conclusion, if necessary, of a going out of business or store closing sale process, in each case for all or substantially all of the Debtor's assets (the 'Employee Plan End Date'). The Debtor proposes to implement a retention program for its key, non-insider employees, providing a maximum aggregate bonus pool of up to $248,000. Each KERP Participant will receive an award based on the Debtor's analysis of such KERP Participant's responsibilities and respective critical nature of their duties. The awards range from $5,000 to $25,000. The total compensation for category 'A' employee is $25,000, for category 'B' is $15,000; for category 'C' is $10,000; for category 'D' is $7,500 and for category 'E' is $5,000, with a total of $212,500." The seal motion explains, "The Program Participants are not debtors in these proceedings and through this Motion to Seal the Debtor seeks to protect the sensitive and private information of those employees and to avoid any impact on employee morale. If such information were to be made public, confidential information will be disclosed to the detriment of the Program Participants, the Debtor, and its estate." The Court scheduled a September 13, 2018 hearing to consider both the KEIP/KERP and seal motions with objections due by September 6, 2018. About Samuels Jewelers Samuels Jewelers, Inc. -- http://www.samuelsjewelers.com/-- operates a chain of jewelry stores with more than 120 stores in 23 states across the United States. These stores are located primarily in strip-mall centers, major shopping malls and as stand-alone stores. Samuels Jewelers, Inc. filed for Chapter 11 protection (Bankr. D. Del. Lead Case No. 18-11818) on Aug. 7, 2018. The petitions were signed by Farhad K. Wadia, chief executive officer. Samuels Jewelers, Inc. has total estimated assets of $100 million to $500 million and total estimated liabilities of $100 million to $500 million. The Debtors tapped Daniel J. DeFranceschi, Esq. and Zachary I Shapiro, Esq. of Richards, Layton & Finger, P.A., as counsel. Berkeley Research Group, LLC, acts as financial advisor and Prime Clerk LLC serves as claims and noticing agent to the Debtors. On Aug. 16, 2018, the U.S. Trustee appointed a seven-member panel to serve as the Official Committee of Unsecured Creditors in the Debtors' cases. SANCILIO PHARMACEUTICAL: Committee Taps Drinker Biddle as Counsel ----------------------------------------------------------------- The official committee of unsecured creditors of Sancilio Pharmaceuticals Company, Inc., seeks approval from the U.S. Bankruptcy Court for the District of Delaware to hire Drinker Biddle & Reath LLP as its legal counsel. The firm will advise the committee regarding its duties under the Bankruptcy Code; review the financial and operational information about the company and its affiliates; assist in the potential sale of the Debtors' assets that maximizes the value for creditors; review the Debtors' pre-bankruptcy transactions; and provide other legal services related to the Debtors' Chapter 11 cases. The firm will charge these hourly rates: Steven Kortanek Partner $805 Patrick Jackson Associate $605 Joseph Argentina, Jr. Associate $495 Cathy Greer Paralegal $335 Drinker Biddle neither holds nor represents any adverse interest in connection with the Debtors' cases, according to court filings. The firm can be reached through: Steven K. Kortanek, Esq. Drinker Biddle & Reath LLP 222 Delaware Ave., Suite 1410 Wilmington, DE 19801-1621 Phone: (302) 467-4200 / (302) 467-4238 Fax: (302) 467-4201 Email: Steven.Kortanek@dbr.com Email: website@dbr.com About Sancilio Pharmaceuticals Headquartered in Riviera Beach, Florida, Sancilio -- https://www.sancilio.com/ -- is a private pharmaceutical development and manufacturing company. Sancilio Pharmaceuticals Company, Inc., along with affiliates Sancilio & Company, Inc., and Blue Palm Advertising Agency, LLC, sought Chapter 11 protection (Bankr. D. Del. Lead Case No. 18-11333) on June 6, 2018. Sancilio Pharmaceuticals estimated $10 million to $50 million in assets and liabilities. The Hon. Christopher S. Sontchi is the case judge. The Debtors tapped Greenberg Traurig, LLP as counsel; MCA Financial Group, Ltd. as financial advisor; and JND Corporate Restructuring as claims agent. The Office of the U.S. Trustee for Region 3 appointed an official committee of unsecured creditors on July 3, 2018. The committee tapped Drinker Biddle & Reath LLP as its legal counsel. SANCILIO PHARMACEUTICAL: Panel Taps Emerald as Financial Advisor ---------------------------------------------------------------- The official committee of unsecured creditors of Sancilio Pharmaceuticals Company, Inc., seeks approval from the U.S. Bankruptcy Court for the District of Delaware to hire Emerald Capital Advisors as its financial advisor. The firm will assist the committee in determining the appropriate capital structure for the company and its affiliates; evaluate any proposed financing, asset sale or transaction involving the Debtors; assist in formulating strategies related to the potential recovery for unsecured creditors under a proposed bankruptcy plan; and provide other financial advisory services related to the Debtors' Chapter 11 cases. Emerald Capital will charge these hourly rates: Managing Partners $550 - $600 Managing Directors $500 Vice-Presidents $400 - $450 Associates $350 Analysts $200 - $300 John Madden, managing partner at Emerald, disclosed in a court filing that his firm neither holds nor represents any adverse interest in connection with the Debtors' cases. The firm can be reached through: John P. Madden Emerald Capital Advisors 70 East 55th Street, 17th Floor New York, NY 10022 Tel: 212.201.1904 E-mail: info@emeraldcapitaladvisors.com About Sancilio Pharmaceuticals Headquartered in Riviera Beach, Florida, Sancilio -- https://www.sancilio.com/ -- is a private pharmaceutical development and manufacturing company. Sancilio Pharmaceuticals Company, Inc., along with affiliates Sancilio & Company, Inc., and Blue Palm Advertising Agency, LLC, sought Chapter 11 protection (Bankr. D. Del. Lead Case No. 18-11333) on June 6, 2018. Sancilio Pharmaceuticals estimated $10 million to $50 million in assets and liabilities. The Hon. Christopher S. Sontchi is the case judge. The Debtors tapped Greenberg Traurig, LLP as counsel; MCA Financial Group, Ltd. as financial advisor; and JND Corporate Restructuring as claims agent. The Office of the U.S. Trustee for Region 3 appointed an official committee of unsecured creditors on July 3, 2018. The Committee tapped Drinker Biddle & Reath LLP as its legal counsel. SEARS HOLDINGS: Fairholme Capital Has 11% Stake as of Aug. 21 ------------------------------------------------------------- In a Schedule 13G/A filed with the Securities and Exchange Commission, these entities reported beneficial ownership of shares of common stock of Sears Holdings Corporation as of Aug. 21, 2018: Shares Percentage Beneficially of Reporting Person Owned Shares ---------------- ------------ ---------- Fairholme Capital Management, L.L.C. 11,966,415 11% Bruce R. Berkowitz 14,061,947 13% Fairholme Funds, Inc. 8,556,589 7.9% 11,966,415 Common Shares of Sears Holdings are owned, in the aggregate, by Mr. Berkowitz and various investment vehicles managed by Fairholme Capital Management, L.L.C. of which 7,402,091 are owned by The Fairholme Fund and 1,154,498 are owned by The Fairholme Allocation Fund, each a series of Fairholme Funds, Inc. Because Mr. Berkowitz, in his capacity as the controlling person of the sole member of FCM or as president of Fairholme Funds, Inc., has voting or dispositive power over all shares beneficially owned by FCM, he is deemed to have beneficial ownership of all those shares reported. Mr. Berkowitz additionally beneficially owns 2,095,532 Common Shares of Sears Holding in his individual capacity. A full-text copy of the regulatory filing is available at: https://is.gd/uXrqi6 About Sears Holdings Based in Hoffman Estates, Illinois, Sears Holdings Corporation (NASDAQ: SHLD) -- http://www.searsholdings.com/-- is an integrated retailer focused on seamlessly connecting the digital and physical shopping experiences to serve its members. Sears Holdings is home to Shop Your Way, a social shopping platform offering members rewards for shopping at Sears and Kmart, as well as with other retail partners across categories important to them. The Company operates through its subsidiaries, including Sears, Roebuck and Co. and Kmart Corporation, with full-line and specialty retail stores across the United States. Sears Holdings reported a net loss of $383 million on $16.70 billion of total revenues for the year ended Feb. 3, 2018, compared to a net loss of $2.22 billion on $22.13 billion of total revenues for the year ended Jan. 28, 2017. As of May 5, 2018, Sears Holdings had $7.28 billion in total assets, $11.39 billion in total liabilities and a total deficit of $4.11 billion. * * * In April 2018, S&P Global Ratings raised its corporate credit rating on Sears Holdings to 'CCC-' from 'SD' and its short-term corporate credit rating on Sears Roebuck Acceptance Corp. to 'C' from 'SD'. The outlook is negative. S&P said, "The upgrade reflects our view that Sears has addressed most but not all of the 2018 maturities and will need to continue to raise capital as well as make further progress on reducing cash use and losses. In March 2018, Fitch Ratings upgraded Sears Long-Term IDR to 'CC' from 'RD', which Fitch believes is reflective of the post-DDE credit profile given ongoing restructuring concerns. In January 2018, Moody's Investors Service downgraded Sears Holdings' Corporate Family Rating to 'Ca' from 'Caa3'. Sears' 'Ca' rating reflects the company's announced pursuit of debt exchanges to extend maturities and its sizable operating losses - Domestic Adjusted EBITDA was an estimated loss of $625 million for the LTM period ending Oct. 28, 2017. SEVEN STARS: Incurs $8.6 Million Net Loss in Second Quarter ----------------------------------------------------------- Seven Stars Cloud Group, Inc. has filed with the Securities and Exchange Commission its Quarterly Report on Form 10-Q reporting a net loss of $8.61 million on $132.98 million of revenue for the three months ended June 30, 2018, compared to a net loss of $3.86 million on $43.32 million of revenue for the same period during the prior year. For the six months ended June 30, 2018, the Company reported a net loss of $12.42 million on $318.92 million of revenue compared to a net loss of $2.30 million on $76.49 million of revenue for the six months ended June 30, 2017. As of June 30, 2018, Seven Stars had $153.57 million in total assets, $117.53 million in total liabilities, $1.26 million in convertible preferred stock, and $34.77 million in total equity. As of June 30, 2018, the Company had cash of approximately $1.8 million. Approximately $0.8 million was held in the Company's Hong Kong, US and Singapore entities and $1.0 million was held in its mainland China entities. The Company has no plans to repatriate these funds. The Company has incurred significant continuing losses in 2018 and 2017, and total accumulated deficits were $138.7 million and $126.7 million as of June 30, 2018 and Dec. 31, 2017, respectively. The Company also used cash for operations of approximately $11.4 million and $1.7 million for the six months ended June 30, 2018 and 2017, respectively. "We must continue to rely on proceeds from debt and equity issuances to fund ongoing operating expenses to date, which could raise substantial doubt about the Company's ability to continue as a going concern. The consolidated financial statements included in this report have been prepared assuming that the Company will continue as a going concern and, accordingly, do not include any adjustment that might result from the outcome of this uncertainty," the Company stated in the Quarterly Report. A full-text copy of the Form 10-Q is available for free at: https://is.gd/EzVZP7 About Seven Stars Seven Stars Cloud Group, Inc., formerly Wecast Network, Inc. -- http://www.sevenstarscloud.com/-- is aiming to become a next generation Artificial-Intelligent (AI) & Blockchain-Powered, Fintech company. By managing and providing an infrastructure and environment that facilitates the transformation of traditional financial markets such as commodities, currency and credit into the asset digitization era, SSC provides asset owners and holders a seamless method and platform for digital asset securitization and digital currency tokenization and trading. The company is headquartered in Tongzhou District, Beijing, China. Seven Stars reported a net loss of $10.19 million for the year ended Dec. 31, 2017, compared to a net loss of $28.50 million for the year ended Dec. 31, 2016. B F Borgers CPA PC's report on the consolidated financial statements for the year ended Dec. 31, 2017, contains an explanatory paragraph expressing substantial doubt regarding the Company's ability to continue as a going concern. The auditors stated that the Company incurred recurring losses from operations, has net current liabilities and an accumulated deficit that raise substantial doubt about its ability to continue as a going concern. SOUTH PLAZA CENTER: Hires Yockey & Associates as Accountant ----------------------------------------------------------- South Plaza Center Associates, LLC, seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to hire Pat Yockey and Yockey & Associates as accountant. Professional services Y&A will render are: a. review the Debtor's records for asset analysis and recovery; b. conduct and prepare monthly operating reports for the Debtor; and c. assist the Debtor in all tax matters. Y&A's standard hourly rates are: Mr. Yockey, CPA $175 Jane Yockey, Book Keeper $65 Pat Yockey, CPA, partner at Yockey & Associates, attests that neither he nor Y&A represent any interest adverse to the Debtor's estate and are "disinterested persons" as required by 11 U.S.C. Sec. 327(a). The accountant can be reached through: Pat Yockey, CPA Yockey & Associates 109 East Main Street 400 Norfolk, VA 23510 Phone: Show Number Web: Patyockey.com About South Plaza Center Associates South Plaza Center Associates, LLC, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 18-05703) on July 10, 2018. At the time of the filing, the Debtor estimated assets and debt of $1 million to $10 million and liabilities. SOUTHERN MISSISSIPPI FUNERAL: Taps Sheehan Law Firm as Counsel -------------------------------------------------------------- Southern Mississippi Funeral Service, LLC, seeks authority from the United States Bankruptcy Court for the Southern District of Mississippi (Gulfport) to hire Patrick A. Sheehan, Esq. at Sheehan Law Firm as counsel. Patrick Sheehan, Esq., the attorney who will be handling the case, will charge an hourly fee of $300. Paralegals will charge $125 per hour. Sheehan's professional services are: a. consult with any Trustee or any committee concerning the administration of the case; b. investigate the acts, assets, liabilities, and financial condition of the Debtor, the operation of the Debtor's business and the desirability of the continuance of such business , and any other matter relevant to the case or to the formulation of the plan; c. formulate a plan; and d. prepare any pleadings, motions, answers, notices, orders and reports that are required for the proper function of the Debtor. Sheehan Law Firm has no connection with the Debtor or any of its creditors, according to court filings. The firm can be reached through: Patrick A. Sheehan SHEEHAN LAW FIRM PLLC 429 Porter Avenue Ocean Springs, MS 39564 Tel: 228-875-0572 Fax: 228-875-0895 E-mail: pat@sheehanlawfirm.com About Southern Mississippi Funeral Southern Mississippi Funeral Service, LLC -- https://www.smfs.us/ -- offers burial or graveside services, cremation services, memorial services, and specialty funeral services. Southern Mississippi Funeral Service filed a voluntary petition under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Mis. Case No. 18-51483) on July 31, 2018. In the petition signed by Stephen A. Hilton, president, the Debtor estimated $1 million to $10 million in both assets and liabilities. Judge Katharine M. Samson presides over the case. Patrick A. Sheehan, Esq., at Sheehan Law Firm, is the Debtor's counsel. STONINGTON CAPITAL: Taps Coffey & Associates as Special Counsel --------------------------------------------------------------- Stonington Capital, LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to hire Coffey & Associates as special counsel. The firm will represent the Debtor in a case it filed against a certain Steven Snow for damages resulting from breach of contract. The case is pending in the Superior Court of New Jersey. Gregory Coffey, Esq., and Richard Dewland, Esq., the attorneys who will be handling the case, will each charge an hourly fee of $250. Mr. Coffey disclosed in a court filing that he and his firm are "disinterested" as defined in Section 101(14) of the Bankruptcy Code. Coffey & Associates can be reached through: Gregory J. Coffey, Esq. Richard J. Dewland, Esq. Coffey & Associates 465 South Street Morristown, NJ 07960 Phone: (973) 539-4500 About Stonington Capital Stonington Capital, LLC, is a privately-held company located at 30 Cherry Lane, Harding, New Jersey. Stonington Capital sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Case No. 18-15599) on March 22, 2018. In the petition signed by T. Gary Gutjahr, managing member, the Debtor estimated assets of less than $50,000 and liabilities of $1 million to $10 million. Judge Vincent F. Papalia presides over the case. The Debtor tapped Barry Scott Miller, Esq., as its legal counsel. STRAUSS COMPANY: Taps Farinash & Stofan as Legal Counsel -------------------------------------------------------- The Strauss Company, Inc., seeks approval from the U.S. Bankruptcy Court for the Eastern District of Tennessee to hire Farinash & Stofan as its legal counsel. The services to the provided by the firm include advising the Debtor regarding its duties under the Bankruptcy Code; negotiating with creditors; and assisting the Debtor in the preparation of a plan of reorganization. The firm will charge these hourly rates: Jerrold Farinash $350 Amanda Stofan $250 Farinash & Stofan received a retainer in the sum of $25,000. The firm does not hold any interest adverse to the Debtor and its estate, according to court filings. Farinash & Stofan can be reached through: Jerrold D. Farinash, Esq. Farinash & Stofan 100 West M L King Blvd., Suite 816 Chattanooga, TN 37402 Email: jdf@8053100.com About The Strauss Company Creditors Truitt Ellis, Carrie Ellis, Kathleen Pennington, VanBuren LLC, and Germantown Hammer LLC filed an involuntary petition for relief under Chapter 7 against The Strauss Company, Inc. (Bankr. E.D. Tenn. Case No. 18-12972) on July 6, 2018. The petitioning creditors are represented by R. Mark Donnell Jr., Esq. Judge Shelley D. Rucker presides over the case. The Debtor has requested to convert the Chapter 7 case to one under Chapter 11. The motion is pending. STRIDE ACADEMY, MN: S&P Cuts Rating on 2016A Lease Bonds to 'CC' ---------------------------------------------------------------- S&P Global Ratings lowered its long-term rating to 'CC' from 'CCC-' on St. Cloud, Minn.'s series 2016A lease revenue bonds, issued for STRIDE Academy (Stride, or the academy). The outlook is negative. "The downgrade reflects the intent of the academy to miss its April 1, 2019, bond principal payment as permitted under the Conditional Waiver Agreement that the academy signed with the trustee," said S&P Global Ratings credit analyst Kaiti Wang. "Management informs us that it does not plan to use the bond debt service reserve to cover the principal payment. "The 'CC' rating is in line our view that payment default is a virtual certainty. "The negative outlook reflects our expectation that the April 1, 2019, bond principal payment will not be made as scheduled, constituting a default ('D' rating) under our criteria. "We would lower the rating to 'D' once the scheduled bond principal payment is missed, or earlier if the Oct. 1, 2018, bond interest payment is not made on time and in full." A higher rating would require an enrollment rebound in fall 2018 to numbers that can support operations at a level sufficient to pay full debt service without cash flow depletion, the cancellation of the terms in the conditional waiver permitting the nonpayment of bond principal, and a feasible commitment from management to make all bond payments in full and on time. The rating action affects $16.375 million in outstanding debt. THAMES VIEW: Taps Joseph J. D'Agostino as Legal Counsel ------------------------------------------------------- Thames View Inc. seeks approval from the U.S. Bankruptcy Court for the District of Connecticut to hire Attorney Joseph J. D'Agostino, Jr., LLC as its legal counsel. The firm will advise the Debtor regarding its duties under the Bankruptcy Code; assist in its financial transactions and in the preparation of a plan of reorganization; and provide other legal services related to its Chapter 11 case. The firm will charge these hourly rates: Joseph D'Agostino, Jr., Esq. $350 Support Staff $100 Prior to the petition date, D'Agostino received a retainer of $2,500, plus $1,717 for the filing fee. D'Agostino is "disinterested" as defined in section 101(14) of the Bankruptcy Code, according to court filings. The firm can be reached through: Joseph J. D'Agostino, Jr., Esq. Attorney Joseph J. D'Agostino, Jr., LLC 1062 Barnes Road, Suite 108 Wallingford, CT 06492 Tel: (203) 265-5222 Fax: 203-265-5236 Email: joseph@lawjjd.com About Thames View Inc. Thames View Inc.'s principal assets are located at 189-198 Thames Street Groton, Connecticut, having an aggregate value of $1.22 million. Thames View sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Conn. Case No. 18-21360) on August 19, 2018. In the petition signed by Erik Mattila, managing member, the Debtor disclosed $1,225,500 in assets and $2,317,423 in liabilities. Judge James J. Tancredi presides over the case. TOYS R US: Toys Delaware, Geoffrey Debtors File Wind-Down Plan -------------------------------------------------------------- Toys "R" Us-Delaware, Inc., and certain Toys Delaware affiliates (collectively, "Toys Delaware Debtors") and Geoffrey Holdings, LLC, and Geoffrey's subsidiaries (collectively, the "Geoffrey Debtors"), filed with the U.S. Bankruptcy Court for the Eastern District of Virginia, Richmond Division, a disclosure statement dated August 6, 2018, explaining their Chapter 11 plans. The Plan constitutes a separate Chapter 11 plan for each Debtor and derives from a settlement agreement that was extensively negotiated in good faith and at arm's-length between the Debtors and certain stakeholders. If consummated, the Plan will distribute the proceeds derived from the wind-down, dissolution, and liquidation of the Debtors' Estates after the Effective Date. The Geoffrey Debtors and the Toys Delaware Debtors separately seek to confirm their respective Plans, and the confirmation of one Plan is not contingent on confirmation of the other. The proposed Plan provides the following classification and treatment of classified claims and interests against the Toys Delaware Debtors: * Class A1: Other Secured Claims against the Toys Delaware Debtors. On the Effective Date, or as soon as reasonably practicable thereafter, in full and final satisfaction and discharge of each Allowed Other Secured Claim against the Toys Delaware Debtors, each Holder thereof shall receive, at the option of the applicable Toys Delaware Debtor: (i) payment in full in cash solely from the proceeds of collateral securing such Allowed Other Secured Claim; (ii) delivery of the collateral securing any such claim and payment of any interest required under Section 506(b) of the Bankruptcy Code; (iii) reinstatement of such Other Secured Claim; or (iv) such other treatment as shall render such claim unimpaired, provided, however, that holders of Allowed Other Secured Claims shall not receive any distribution from the Administrative Claims Distribution Pool. * Class A2: Other Priority Claims against the Toys Delaware Debtors. Except to the extent there is any excess value available for distribution from the applicable Toys Delaware Debtor following repayment of all Secured Claims and all Claims entitled to senior or administrative priority in accordance with the Bankruptcy Code, on the Effective Date, or as soon as reasonably practicable thereafter, each Allowed Other Priority Claim against the Toys Delaware Debtors shall receive no distribution. * Class A3: Delaware Secured ABL/FILO Facility Claims against the Toys Delaware Debtors. On the Effective Date, or as soon as reasonably practicable thereafter, in full and final satisfaction and discharge of each allowed Delaware Secured ABL/FILO Facility Claim, each holder thereof shall receive payment in full and cash. * Class A4: Term B-2 Loan and Term B-3 Loan Claims against the Toys Delaware Debtors. On the Effective Date, or as soon as reasonably practicable thereafter, in full and final satisfaction and discharge of each allowed Term B-2 Loan and Term B-3 Loan claim, each Holder thereof shall receive its Term Loan Pro Rata Share of the Term B-2/B-3 Delaware Portion of (i) the Delaware Term Loan Distributable Proceeds and (ii) the Delaware Residual Interest Pool. * Class A5: Term B-4 Loan Claims against the Toys Delaware Debtors. On the Effective Date, or as soon as reasonably practicable thereafter, in full and final satisfaction and discharge of each allowed Term B-4 Loan Claim, each Holder thereof shall receive its Term Loan Pro Rata Share of (A) 50% of the Aggregate Canada Proceeds, and (B) the Term B-4 Delaware Portion of (i) the Delaware Term Loan Distributable Proceeds and (ii) the Delaware Residual Interest Pool. * Class A6: General Unsecured Claims against the Toys Delaware Debtors. Except to the extent there is any residual value available for distribution from the Toys Delaware Debtors after Classes A1 through A5, as well as Allowed Administrative Claims and Priority Tax Claims are paid in full, each General Unsecured Claim against the Toys Delaware Debtors shall receive no distribution on account of such General Unsecured Claim; however, Holders of General Unsecured Claims will receive their pro rata share of any such residual value. * Class A7: Toys Delaware Debtor Intercompany Claims against other Toys Delaware Debtors. On the Effective Date or as soon as reasonably practicable thereafter, each allowed Toys Delaware Debtor Intercompany Claim against another Toys Delaware Debtor shall be reinstated, canceled and released, or receive such other treatment, in each case as agreed to by the applicable Debtors and the Ad Hoc Group of Term B-4 Lenders. * Class A8: Toys Delaware Intercompany. Except as otherwise provided in the Toys Delaware Plan, Interests in the Toys Delaware Debtors other than Toys Delaware shall be reinstated, canceled and released, or receive such other treatment, in each case as agreed to by the applicable Debtors and the Ad Hoc Group of Term B-4 Lenders. * Class A9: Toys Inc. Interests. On the Effective Date, each interest in Toys Delaware shall be canceled and released, unless the Delaware Retention Structure is utilized. The proposed Plan also provides the following classification and treatment of classified claims and interests against the Geoffrey Debtors: * Class B1: Other Secured Claims against the Geoffrey Debtors. On the Effective Date, or as soon as reasonably practicable thereafter, in full and final satisfaction and discharge of each Allowed Other Secured Claim, each Holder thereof shall receive, at the option of the Geoffrey Debtors: (i) payment in full in cash; (ii) delivery of the collateral securing any such claim and payment of any interest required under Section 506(b) of the Bankruptcy Code in compliance; (iii) reinstatement of such other secured claim; or (iv) such other treatment as shall render such claim unimpaired. * Class B2: Other Priority Claims against the Geoffrey Debtors. On the Effective Date, or as soon as reasonably practicable thereafter, each allowed other priority claim against the Geoffrey Debtors shall be discharged and canceled in full and shall receive no distribution. * Class B3: Term B-2 Loan, Term B-3 Loan, and Term B-4 Loan Claims against the Geoffrey Debtors. On the Effective Date, or as soon as reasonably practicable thereafter, in full and final satisfaction and discharge of each allowed Term B-2 Loan, Term B-3 Loan and Term B-4 Loan Claim, each holder thereof shall receive its Term Loan Pro Rata Share of: (i) the Geoffrey Proceeds, if any, and/or (ii) the Geoffrey Equity Pool. * Class B4: General Unsecured Claims against the Geoffrey Debtors. On the Effective Date, or as soon as reasonably practicable thereafter, each Allowed General Unsecured Claim against the Geoffrey Debtors shall be discharged and canceled in full and shall receive no distribution. * Class B5: Geoffrey Debtor Intercompany Claims against other Geoffrey Debtors. On the Effective Date, or as soon as reasonably practicable thereafter, each Geoffrey Debtor Intercompany Claim against the other Geoffrey Debtors shall be reinstated, canceled and released, or receive such other treatment, in each case as agreed to by the applicable Debtors and the Ad Hoc Group of Term B-4 Lenders. * Class B6: Geoffrey Debtor Intercompany Interests. On the Effective Date, or as soon as reasonably practicable thereafter, in full and final satisfaction and discharge of Geoffrey Debtor Intercompany Interest, each Allowed Geoffrey Debtor Intercompany Interest shall be reinstated, canceled and released, or receive such other treatment, in each case as agreed to by the applicable Debtors and the Ad Hoc Group of Term B-4 Lenders. * Class B7: Interests in Geoffrey. On the Effective Date, each Interest in Geoffrey shall be cancelled, and released, unless the Delaware Retention Structure is utilized. A full-text copy of the Toys Delaware and Geoffrey Debtors' Disclosure Statement is available at: http://bankrupt.com/misc/vaeb17-34665-4055.pdf About Toys R Us, Inc. Toys "R" Us, Inc., was an American toy and juvenile-products retailer founded in 1948 and headquartered in Wayne, New Jersey, in the New York City metropolitan area. Merchandise was sold in 880 Toys "R" Us and Babies "R" Us stores in the United States, Puerto Rico and Guam, and in more than 780 international stores and more than 245 licensed stores in 37 countries and jurisdictions. Merchandise was also sold at e-commerce sites including Toysrus.com and Babiesrus.com. On July 21, 2005, a consortium of Bain Capital Partners LLC, Kohlberg Kravis Roberts, and Vornado Realty Trust invested $1.3 billion to complete a $6.6 billion leveraged buyout of the company. Toys "R" Us is a privately owned entity but still files with the U.S. Securities and Exchange Commission as required by its debt agreements. The Company's consolidated balance sheet showed $6.572 billion in assets, $7.891 billion in liabilities, and a stockholders' deficit of $1.319 billion as of April 29, 2017. Toys "R" Us, Inc., and certain of its U.S. subsidiaries and its Canadian subsidiary voluntarily filed for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Va. Lead Case No. Case No. 17-34665) on Sept. 19, 2017. In addition, the Company's Canadian subsidiary voluntarily commenced parallel proceedings under the Companies' Creditors Arrangement Act ("CCAA") in Canada in the Ontario Superior Court of Justice. The Company's operations outside of the U.S. and Canada, including its 255 licensed stores and joint venture partnership in Asia, which are separate entities, were not part of the Chapter 11 filing and CCAA proceedings. Grant Thornton is the monitor appointed in the CCAA case. Judge Keith L. Phillips presides over the Chapter 11 cases. In the Chapter 11 cases, Kirkland & Ellis LLP and Kirkland & Ellis International LLP serve as the Debtors' legal counsel. Kutak Rock LLP serves as co-counsel. Toys "R" Us employed Alvarez & Marsal North America, LLC as its restructuring advisor; and Lazard Freres & Co. LLC as its investment banker. It hired Prime Clerk LLC as claims and noticing agent. Consensus Advisory Services LLC and Consensus Securities LLC, serve as sale process investment banker. A&G Realty Partners, LLC, serves as its real estate advisor. On Sept. 26, 2017, the U.S. Trustee for Region 4 appointed an official committee of unsecured creditors. The Committee retained Kramer Levin Naftalis & Frankel LLP as its legal counsel; Wolcott Rivers, P.C., as local counsel; FTI Consulting, Inc. as financial advisor; and Moelis & Company LLC as investment banker. Toys "R" Us UK Toys "R" Us Limited, Toys "R" Us, Inc.'s UK arm with 105 stores and 3,000 employees, was sent into administration in the United Kingdom in February 2018. Arron Kendall and Simon Thomas of Moorfields Advisory Limited, 88 Wood Street, London, EC2V 7QF were appointed Joint Administrators on Feb. 28, 2018. The Administrators now manage the affairs, business and property of the Company. The Administrators act as agents only and without personal liability. The Administrators said they will make every effort to secure a buyer for all or part of the business. Liquidation of U.S. Stores Toys "R" Us, Inc., on March 15, 2018, filed with the U.S. Bankruptcy Court a motion seeking Bankruptcy Court approval to start the process of conducting an orderly wind-down of its U.S. business and liquidation of inventory in all 735 of the Company's U.S. stores, including stores in Puerto Rico. Propco I Debtors Toys "R" Us Property Company I, LLC and its subsidiaries own fee and leasehold interests in more than 300 properties in the United States. The Debtors lease the properties on a triple-net basis under a master lease to Toys-Delaware, the operating entity for all of TRU's North American businesses, which operates the majority of the properties as Toys "R" Us stores, Babies "R" Us stores or side-by-side stores, or subleases them to alternative retailers. Toys "R" Us Property was founded in 2005 and is headquartered in Wayne, New Jersey. Toys 'R' Us Property operates as a subsidiary of Toys "R" Us Inc. Company LLC, MAP Real Estate LLC, TRU 2005 RE I LLC, TRU 2005 RE II Trust, and Wayne Real Estate Company LLC (collectively, "Propco I Debtors") sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Va. Lead Case No. 18-31429) on March 20, 2018. The Propco I Debtors sought and obtained procedural consolidation and joint administration of their Chapter 11 cases, separate from the Toys "R" Us Debtors' Chapter 11 cases. The Propco I Debtors estimated assets of $500 million to $1 billion and liabilities of $500 million to $1 billion. Judge Keith L. Phillips presides over the Propco I Debtors' cases. The Propco I Debtors hired Klehr Harrison Harvey Branzburg, LLP; and Crowley, Liberatore, Ryan & Brogan, P.C., as co-counsel. The Debtors also tapped Kutak Rock LLP. They hired Goldin Associates, LLC, as financial advisors. VCVH HOLDING: S&P Hikes Corp Credit Rating to 'B', Outlook Stable ----------------------------------------------------------------- S&P Global Ratings raised its issuer credit rating on U.S.-based health care technology company Verscend to 'B' from 'B-', and removed it from CreditWatch, where it was placed with positive implications on June 19, 2018. The outlook is stable. S&P said, "The upgrade reflects our view that the combination of Verscend and Cotiviti results in a meaningfully stronger business, which we believe partly offsets the higher leverage following the transaction. This acquisition strengthens Verscend's market position in the health care payment integrity market, materially increases scale, improves product diversity, and bolsters the company's competitive advantage. We also expect the acquisition to improve EBITDA margins and the pace of revenue growth, helped by Cotiviti's higher margins and significant cross-selling and synergy potential. "The stable outlook reflects our expectation that Verscend's leverage will improve to 8.9x in 2019 and 8.1x in 2020 as the company integrates Cotiviti, achieving its facilities footprint optimization, and labor reduction initiatives. We expect these initiatives to result in steady high-single-digit revenue growth, significant EBITDA margin expansion, and steady discretionary cash flow generation of over $160 million starting in 2019." W.P.I.P. INC: Trustee Taps Nusinov Smith as Special Counsel ----------------------------------------------------------- The Chapter 11 trustee for W.P.I.P., Inc. and its affiliated debtors seeks approval from the U.S. Bankruptcy Court for the District of Maryland to hire a special litigation counsel. Charles Goldstein proposes to employ Nusinov Smith LLP to investigate and prosecute professional liability claims. The firm will charge these hourly rates: Jeffrey Nusinov $450 Paul Raschke $425 Other Partners $350 to $425 Paraprofessionals $125 to $175 Jeffrey Nusinov, Esq., a partner at Nusinov Smith, disclosed in a court filing that his firm does not hold any interest adverse to the interest of the Debtors' estates, creditors or equity security holders. The firm can be reached through: Jeffrey E. Nusinov, Esq. Nusinov Smith LLP 6225 Smith Avenue Baltimore, MD 21209 Telephone: (410) 554-3601 Email: jnusinov@nusinovsmith.com About W.P.I.P., Inc. WPIP owns an industrial storage lot at 601 West Patapsco, Avenue, Baltimore, Maryland that derives its income from renting surface parking/storage space to commercial and industrial tenants. Manus Edward Suddreth is the sole shareholder of W.P.I.P., Inc., Patapsco Excavating, Inc., Pollution Properties Inc. and Patapsco Excavating/Silverlake, Inc. As a result of Mr. Suddreth's Chapter 11 case (Bankr. D. Md. Case No. 13-12978), all rights and powers of Mr. Suddreth with respect to the Debtors flow to Charles R. Goldstein, as trustee. The Trustee and the Debtors seek entry of an order authorizing the joint administration, for procedural purposes only, with the case number assigned to the Suddreth Case serving as the lead case. W.P.I.P., Inc. f/k/a A.V. & E. Industries, Inc., and its affiliates Patapsco Excavating, Inc.; Pollution Properties Inc.; and Patapsco Excavating/Silverlake, Inc. filed Chapter 11 petitions (Bankr. D. Md. Case Nos. 18-16736 to 18-16739) on May 17, 2018. The petitions were signed by Charles R. Goldstein, Chapter 11 trustee for estate of Manus Edward Suddreth. The Debtors estimated $1 million to $10 million in assets and $1 million to $10 million in debt. The Hon. David E. Rice presides over these cases. The Debtors tapped Saul Ewing Arnstein & Lehr LLP as counsel; and 3Cubed Advisory Services, LLC, as financial advisor. On July 21, 2017, Charles R. Goldstein was appointed Chapter 11 trustee. The trustee tapped Saul Ewing Arnstein & Lehr LLP as his legal counsel. WOODBRIDGE GROUP: Oct. 24 Plan Confirmation Hearing --------------------------------------------------- Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District of Delaware has approved the disclosure statement explaining the plan of liquidation of Woodbridge Group of Companies, LLC, et al., and The deadline by which all ballots must be properly executed, completed, and delivered to, and actually received by the Voting Agent will be Oct. 8, 2018. The deadline for filing and serving Plan Objections will be Oct. 8. The date set for the Confirmation Hearing will be Oct. 24, at 10:00 a.m. (ET). The Debtors disclose that their assets largely consist of 189 real properties (as of the date of this Disclosure Statement), Cash, and the Liquidation Trust Actions under the Plan. The Liquidation Trust Actions include, but are not limited to, causes of action, claims, remedies, or rights that may be brought by or on behalf of the Debtors or the Estates under chapter 5 of the Bankruptcy Code and related statutes or common law, as well as any other claims, rights, or causes of action held by the Debtors’ Estates. The estimated recoveries to creditors do not take into account potential proceeds of the Liquidation Trust Actions because they are unpredictable and highly contingent. Among other things, although the Debtors believe that strong litigation claims may exist, the ability to collect any judgment on those claims remains unknown at this time. The Plan provides for the creation of a Liquidation Trust and a Wind-Down Entity, as well as the appointment of a Liquidation Trustee and a Wind-Down CEO, who will administer and liquidate all remaining property of the Debtors and their Estates, subject to the supervision and oversight of the Liquidation Trust Supervisory Board and the Wind-Down Board, respectively. The Plan also provides for Distributions to be made to certain Holders of Administrative Claims, Professional Fee Claims, Priority Tax Claims, DIP Claims, Other Secured Claims, Priority Claims, Note Claims (both Standard Note Claims and Non-Debtor Loan Note Claims), General Unsecured Claims, Unit Claims, and potentially Subordinated Claims, and for the funding of the Liquidation Trust and the Wind-Down Entity. The Plan also provides for two levels of substantive consolidation as of the Effective Date--(i) of all of the Fund Debtors into Woodbridge Mortgage Investment Fund 1, LLC, and (ii) of all of the Other Debtors into Woodbridge Group of Companies, LLC. Finally, the Plan provides for the cancellation of all Equity Interests in the Debtors, the dissolution and wind-up of the affairs of the Debtors, and the administration of any remaining assets of the Debtors' Estates by the Liquidation Trustee or the Wind-Down CEO, as applicable. Dissident Noteholders Object to Disclosure Statement Lisa La Rochelle and a group of dissident noteholders object to the Debtor's Disclosure Statement complaining that the plan outline does not adequately account for the litigation the dissident noteholders filed in March. The Dissident Noteholders complain that the Disclosure Statement does not provide adequate information because it does not account for the crucial issue in these cases -- whether or not the Dissident Noteholders' litigation establishes that certain noteholders have valid, perfected security interests in the Owlwood property specifically, and all the California properties generally. The Dissident Noteholders tell the Court that should they be successful, their claims would exceed $50,000,000 (and possibly significantly larger) making it impossible for the Plan as described to be viable. The noteholders should have this information when they have to determine if it makes sense to confirm the Plan at this time. A full-text copy of the First Amended Disclosure Statement dated August 22, 2018 is available at: http://bankrupt.com/misc/deb17-12560-2398.pdf A full-text copy of the Disclosure Statement dated August 21, 2018 is available at: http://bankrupt.com/misc/deb17-12560-2389.pdf The Dissident Noteholders are represented by: Frederick B. Rosner, Esq. Jason A. Gibson, Esq. THE ROSNER LAW GROUP LLC 824 N. Market St., Suite 810 Wilmington, DE 19801 Tel: (302) 777-1111 Email: gibson@teamrosner.com -- and -- Joseph E. Sarachek, Esq. THE SARACHEK LAW FIRM 101 Park Avenue, 27th Floor New York, NY 10178 Telephone: (203) 539-1099 Facsimile: (646) 861-4950 Email: joe@saracheklawfirm.com About Woodbridge Group Headquartered in Sherman Oaks, California, The Woodbridge Group Enterprise -- http://www.woodbridgecompanies.com/-- is a comprehensive real estate finance and development company. Its principal business is buying, improving, and selling high-end luxury homes. The Woodbridge Group Enterprise also owns and operates full-service real estate brokerages, a private investment company, and real estate lending operations. The Woodbridge Group Enterprise and its management team have been in the business of providing a variety of financial products for more than 35 years, and have been primarily focused on the luxury home business for the past five years. Since its inception, the Woodbridge Group Enterprise has completed more than $1 billion in financial transactions. These transactions involve real estate, note buying and selling, hard money lending, and alternative financial transactions involving thousands of investors. Woodbridge Group of Companies and certain of its affiliates filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Lead Case No. 17-12560) on Dec. 4, 2017. Woodbridge estimated assets and liabilities at between $500 million and $1 billion. The Chapter 11 cases are being jointly administered. Judge Kevin J. Carey presides over the case. Samuel A. Newman, Esq., Oscar Garza, Esq., Daniel B. Denny, Esq., Jennifer L. Conn, Esq., Eric J. Wise, Esq., Matthew K. Kelsey, Esq., and Matthew P. Porcelli, Esq., at Gibson, Dunn & Crutcher, LLP, and Sean M. Beach, Esq., Edmon L. Morton, Esq., Ian J. Bambrick, Esq., and Allison S. Mielke, Esq., at Young Conaway Stargatt & Taylor, LLP, serve as the Debtors' bankruptcy counsel. Homer Bonner Jacobs, PA, as special counsel, Province, Inc., as expert consultant, Moelis & Company LLC, as investment banker. The Debtors' financial advisors are Larry Perkins, John Farrace, Robert Shenfeld, Reece Fulgham, Miles Staglik, and Lissa Weissman at SierraConstellation Partners, LLC. Beilinson Advisory Group is serving as independent management to the Debtors. Garden City Group, LLC, is the Debtors' claims and noticing agent. Pachulski Stang Ziehl & Jones is counsel to the Official Committee of Unsecured Creditors; and FTI Consulting, Inc., serves as its financial advisor. An official committee of unsecured creditors was appointed in the Chapter 11 cases on Dec. 14, 2017. On Jan. 23, 2018, the Court approved a settlement providing for the formation of an ad hoc noteholder group and an ad hoc unitholder group. [*] Armory Bags Insolvency Restructuring Firm of the Year Award --------------------------------------------------------------- Armory Group, LLC, a middle market advisory firm specializing in investment banking, consulting and asset management is excited to have been honored with the 2018 Insolvency Restructuring Advisory Firm of the Year Award, presented by Finance Monthly M&A Awards. "We are honored that Finance Monthly recognized our team's outstanding work this year," said Eben Perison, Head of Armory Investment Banking. "It's especially gratifying to receive a recognition that represents the talent, dedication and hard work our professionals exhibit every day to deliver best in class services to our clients." The Finance Monthly M&A Awards recognize and celebrate the achievements of dealmakers, management teams, financiers and professional advisers who, over the 12 months, have demonstrated their deal making excellence when working on some of the most important deals across the globe. About Armory Group, LLC Armory Group, LLC -- http://www.armorygroupllc.com/-- provides comprehensive capabilities focused exclusively on the middle market, including investment banking, consulting and asset management. [*] Discounted Tickets for 2018 Distressed Investing Conference! ---------------------------------------------------------------- Discounted tickets for Beard Group, Inc.'s Annual Distressed Investing 2018 Conference are available if you register by August 31. Your cost will be $695, a $200 savings. Visit https://www.distressedinvestingconference.com/ for registration details and information about this year's conference agenda as well as highlights from past conferences. Now on its 25th year, Beard Group's annual Distressed Investing conference is the oldest and most established New York restructuring conference. The day-long program will be held Monday, November 26, 2018, at The Harmonie Club, 4 E. 60th St. in Midtown Manhattan. For a quarter century, the focus of the conference has been on "Maximizing Profits in the Distressed Debt Market." The event also serves as a forum for leaders in corporate restructuring, lending and debt and equity investments to gather and discuss the latest topics and trends in the distressed investing industry, as well as exchange ideas about high-profile chapter 11 bankruptcy proceedings and out-of-court restructurings. They are distinguished professionals who place their resources and reputations at risk to produce stellar results by preserving jobs, rebuilding broken businesses, and efficiently redeploying underutilized assets in the marketplace. This year's conference will also feature: * A luncheon presentation of the Harvey K Miller Award to Edward I. Altman, Professor of Finance, Emeritus, New York University's Stern School of Business. (The award will be presented by last year's winner billionaire Marc Lasry, Altman's former student.) * Evening awards dinner recognizing the 12 Outstanding Restructuring Lawyers To learn how you can be a sponsor and participate in shaping the day-long program, contact: Bernard Tolliver at bernard@beardgroup.com or Tel: (240) 629-3300 x-149 To learn about media sponsorship opportunities to bring your outlet into the view of leaders in corporate restructuring, lending and debt and equity investments, and to expand your network of news sources, contact: Jeff Baxt at jeff@beardgroup.com or (240) 629-3300, ext 150 Beard Group, Inc., publishes Turnarounds & Workouts, Troubled Company Reporter, and Troubled Company Prospector. Visit http://bankrupt.com/freetrial/for a free trial subscription to one or more of Beard Group's corporate restructuring publications. [*] myCUmortgage(R) Hires Schlegel as New Default Services Director ------------------------------------------------------------------- Continuing their drive to help credit unions become great mortgage lenders while growing their credit union mortgage servicing platform, myCUmortgage(R) hired Dave Schlegel as its new Director of Default Services. myCUmortgage is a leading Credit Union Service Organization (CUSO) and wholly-owned by Wright-Patt Credit Union. As the Director of Default Services, Mr. Schlegel is responsible for all aspects of servicing related to non-performing loans. This includes collections, loss mitigation efforts, bankruptcy matters, foreclosures and REO and claims management. "Part of our brand promise is a thrilling, five-star service experience. We understand that many times, bad things happen to good people, so we're building our default services to balance the need for empathy with members along with the ability to minimize credit union and investor losses," said Tim Mislansky, President of myCUmortgage. "With Dave's deep experience, knowledge and desire to help borrowers stay in their homes, we're continuing to deliver on that promise." Drawn to myCUmortgage by its strong culture focused on helping members and fellow experts, Mr. Schlegel brings with him over 12 years of mortgage servicing experience, including strong process management and analytical skills. He was most recently the Vice President of Loss Mitigation at PNC. Mr. Schlegel earned his Bachelor of Science in Mechanical Engineering from the University of Dayton and his M.B.A. from Xavier University. When building the servicing platform, myCUmortgage re-imagined it and created a member-focused solution that is a true value-add to partner credit unions. To ensure the delivery of a thrilling, five-star service experience, they focused on the people, processes and technology supporting the platform. "We've pulled together a team that exemplifies the right combination of servicing expertise and credit union experience," said Mr. Mislansky. "With our member-centric processes and procedures and industry-leading mortgage servicing technology, we are able to do the heavy lifting in the back office while our credit unions interact with their members." About myCUmortgage(R) myCUmortgage(R) -- http://www.myCUmortgage.com/-- is a wholly-owned Credit Union Service Organization of Wright-Patt Credit Union in Beavercreek, Ohio, helping credit union partners to be great mortgage lenders. ********* 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 2018. 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. *** End of Transmission ***