/raid1/www/Hosts/bankrupt/TCR

/raid1/www/Hosts/bankrupt/TCR_Public/181206.mbx T R O U B L E D C O M P A N Y R E P O R T E R Thursday, December 6, 2018, Vol. 22, No. 339 Headlines 1 GLOBAL: Seeks March 24 Exclusive Plan Filing Period Extension 100 CHESTER STATION: Case Summary & 2 Unsecured Creditors 444 EAST 13: Exclusive Plan Filing Period Extended Through Nov. 30 57 ELM STREET: Exclusive Solicitation Period Extended to January 8 AC I NEPTUNE: $5.75M Private Sale of Neptune Property Approved ACUSPORT CORP: Wants to Keep Plan Exclusivity Through Jan. 31 ALGOMA STEEL: S&P Assigns B- Issuer Credit Rating, Outlook Stable ALL-STATE FIRE: $86K Sale of Augusta Property to Smiths Approved ALPHA HOLDING: Moody's Affirms B1 CFR & Alters Outlook to Negative ANDREW MIGELL: Mom Wins Bankruptcy Court Battle ARALEZ PHARMACEUTICALS: Delays Plan Through Conclusion of Sale ARLEN HOUSE: Needs Additional Time to Continue Plan Talks AYTU BIOSCIENCE: Expands Size of Board By Two Members AYTU BIOSCIENCE: Issues $5 Million Promissory Note to Armistice BENJYS KOSHER: Dec. 20 Auction of Substantially All Assets Set BLACK BOX: Facing Three Suits Over AGC Merger Agreement BON-TON STORES: $12.5M Sale of Wilmette Property Partly Granted BREITBURN ENERGY: Investor Files Suit Against Two Brokerage Firms BRIAN G. MEEHAN: Case Summary & 12 Unsecured Creditors BRIDAN 770: Seeks March 11 Exclusive Plan Filing Period Extension BRIGHT MOUNTAIN: Sells $760,000 Worth of Units to 21 Investors CABLEVISION SYSTEMS: Moody's Confirms B1 CFR, Outlook Stable CARESTREAM HEALTH: Moody's Revises Outlook on B3 CFR to Negative CELADON GROUP: Extends Credit Agreement Maturity Until June 2019 CELLECTAR BIOSCIENCES: Starts Cohort 6 Trial Evaluating CLR 131 CHAMP ACQUISITION: Moody's Assigns B2 CFR, Outlook Stable CLA PROPERTIES: Seeks Feb. 19 Exclusive Filing Period Extension CMS FLORAL GALLERY: Exclusivity Period Extended Until Jan. 28 CONSIS INTERNATIONAL: U.S. Trustee Unable to Appoint Committee CURAE HEALTH: $15M Gilmore Hospital Sale to North Mississippi OK'd CURAE HEALTH: Dec. 14 Auction of Gilmore Hospital Set DATACOM SYSTEMS: Seeks Feb. 25 Exclusivity Period Extension DPW HOLDINGS: Ault & Company, et al, Have 8.35% Stake as of Dec. 3 EAST END BUS SERVICE: U.S. Trustee Unable to Appoint Committee F & F SPECIALTY: Exclusivity Periods Extended for 150 Days FLY LOW: U.S. Trustee Unable to Appoint Committee GARAFOLA PROPERTIES: U.S. Trustee Unable to Appoint Committee GLOBAL HEALTHCARE: Completes Transfer of Ohio Facility Operations HARAS SANTA: Case Summary & 20 Largest Unsecured Creditors HERITAGE HOME: Seeks January 25 Exclusive Filing Period Extension HILL ENTERPRISES: Case Summary & 14 Unsecured Creditors HIS GRACE: $950K Sale of Brooklyn Property to G-Way Approved IHEARTMEDIA INC: Creditors Vote to Approve 5th Amended Plan ISMAIL ARSLANGIRAY: $650,000 Sale of Tacoma Property Okayed JAMES CANDY: Seeks Authority to Use OceanFirst Cash Collateral JAMES W. GAMBLE JR: $40,000 Sale of 10,000 Bank Shares Approved JOHN CARROLL: Sale of Santa Barbara Property to Terblanche Approved JOHN DAILEY: $150,000 Sale of Wilcox Property to McGraw Approved KAIROS HOMES: Mullins Buying Weatherford Property for $225K KAIROS HOMES: Seeks Authorization to Use Proceeds From Sale KELLY GRAINGER: $600K Sale of Waxhaw Property Approved LNB-002-2013: Seeks March 27 Exclusive Plan Filing Period Extension LOUIS TELERICO: $150K Sale of Aurora Property to Novak Approved LUNDIN MINING: S&P Affirms 'BB' ICR Then Withdraws Rating MARWA ENTERPRISES: U.S. Trustee Unable to Appoint Committee MCHYL ENTERPRISES: $5.5K Sale of Press to Graphtek Approved MELBOURNE BEACH: CRO Sets Bidding Procedures for All Assets MICHAEL HAGHIGHI: $365K Sale of Jacksonville Property Stake Okayed MID-SOUTH GEOTHERMAL: $100K Sale of Equipment to East West Approved MONTAUK TRANSIT: U.S. Trustee Unable to Appoint Committee MONTGOMERY SERVICES: Seeks February 19 Plan Exclusivity Extension MORGAN STANLEY: Trustee Seeks Judicial Instruction on Cert. Trust NORTHERN POWER: Comerica Extends Forbearance Until April 2019 OKANA LLC: Seeks February 19 Exclusive Plan Filing Period Extension ONTARIO ORTHOTIC: Intends to File Bankruptcy Proposal PALADIN HOSPITALITY: Seeks May 13 Exclusive Filing Period Extension PANNEL PARTNERSHIP: U.S. Trustee Unable to Appoint Committee PARTIKULA LLC: To Auction All Assets on Dec. 14 PEANUT CO: Kallevigs Selling Bucyrus Residential Property for $606K PERRY ELLIS: S&P Withdraws 'B+' ICR Amid Acquistion by Founder RAYMOND WILLMS: $2.8MM Sale of 6 New Jersey Properties Approved RICHARD DODDS: $2,000 Sale of Breckenridge Park Trailer Approved SEAL123 INC: Trust's $340K Sale of Class Action Claim Approved SEARS HOLDING: Bid Deadline for SHIP Business Set for Dec. 11 SENIOR CARE: Case Summary & 40 Largest Unsecured Creditors SIW HOLDING: Has Until February 28 to Exclusively File Plan SN PROPERTIES: JLL Moves Public Auction to Jan. 8 SOUTH PLAZA CENTER: Has Until Dec. 14 to Exclusively File Plan SOUTHEASTERN HOSPITALITY: Needs Additional Time for Plan Talks STEELFUSION CLINICAL: U.S. Trustee Unable to Appoint Committee SYNERGY PARTNERS: U.S. Trustee Unable to Appoint Committee TECTA AMERICA: Moody's Lowers First Lien Debt Rating to B3 TERRAVISTA PARTNERS: Case Summary & 20 Largest Unsecured Creditors TREATMENT CENTER: Wants to Preserve Exclusivity Through Feb. 15 WESTMORELAND COAL: Claims Filing Deadline Set for Dec. 12 WJA ASSET: $1.1M Sale of TD REO's Temecula Property to Wolfe Okayed [*] Gordon Brothers CEO Kenneth Frieze Inducted [^] Recent Small-Dollar & Individual Chapter 11 Filings ********* 1 GLOBAL: Seeks March 24 Exclusive Plan Filing Period Extension --------------------------------------------------------------- 1 Global Capital, LLC and 1 West Capital, LLC request the U.S. Bankruptcy Court for the Southern District of Florida to extend (i) the period within which only the Debtors may file a plan, from November 24, 2018 through and including March 24, 2019, and (ii) the period within which only the Debtors may solicit acceptances of a plan, from January 23, 2019 through and including May 23, 2019. The Debtors assert that these Chapter 11 Cases involve more than 3,750 investors, numerous other creditors, and approximately 2,750 merchant cash advance customers. They also involve examination of non-conforming merchant cash advance transactions. In addition, the Debtors and their professionals are continuing to cooperate with the Securities and Exchange Commission, Miami Region, and the United States Attorney for the Southern District of Florida in connection with their respective investigations into the Debtors' activities prior to the Petition Date, and with the receiver of the SEC receivership over certain affiliates of the Debtors. The Debtors contend that they are uncertain how, if at all, such investigations and receiverships will affect the Chapter 11 Cases. Thus, the Debtors assert that the complexity of the underlying legal issues they face as well as the number of parties involved in this case warrant an extension of the Exclusive Periods. Pursuant to the August 2, 2018 Bar Date Notice, the bar date for persons or entities other than governmental units to file proofs of claim against the Debtors is December 4, 2018, and the deadline for governmental units to file proofs of claim is January 23, 2019. Absent an extension, the Debtors' Exclusive Filing Period was slated to expire on November 24, 2018. The General Bar Date falls just one week after the expiration of the current Exclusive Filing Period, and the Governmental Bar Date falls about two months after the expiration of the current Exclusive Filing Period. As of November 21, 2018, more than 2,400 proofs of claim have been filed. Moreover, the Debtors anticipate filing an Investor Bar Date Motion to have the Court establish a separate bar date for creditors that invested funds with the Debtors either directly or indirectly through trusts, retirement accounts or the like under a memorandum of indebtedness or similar document. In the Investor Bar Date Motion, the Debtors will propose the Court fix February 28, 2019 as the bar date for Investors. In the event the Court grants the Investor Bar Date Motion and fixes February 28, 2019 as the bar date for Investors, such bar date would fall approximately three months after the expiration of the current Exclusive Filing Period. The Debtors conclude that until these bar dates have occurred, they and other parties in interest will not have a sufficient picture of the potential universe of Debtor liabilities to negotiate and prepare a plan. Furthermore, the Debtors will be unable to provide adequate information regarding expected distributions to creditors in any disclosure schedule to be filed with a plan. Accordingly, the Debtors submit that it is necessary to extend the Exclusive Periods to provide them with an adequate opportunity to begin discussing a plan with their constituencies and sufficient time following the passage of the various bar dates to review and analyze proofs of claim that are filed to determine the proper amounts of such claims for inclusion in any disclosure statement and to solicit acceptances of a negotiated plan. About 1 Global Capital 1 Global Capital, LLC -- https://1stglobalcapital.com/ -- is a direct small business funder offering an array of flexible funding solutions, specializing in unsecured business funding and merchant cash advances. 1 Global Capital LLC, based in Hallandale Beach, FL, and its debtor-affiliates sought Chapter 11 protection (Bankr. S.D. Fla. Lead Case No. 18-19121) on July 27, 2018. In the petition signed by Steven A. Schwartz and Darice Lang, authorized signatories, 1st Global Capital estimated $100 million to $500 million in assets and liabilities as of the bankruptcy filing. The Hon. Raymond B. Ray presides over the cases. Greenberg Traurig LLP, led by Paul J. Keenan Jr., Esq., serves as bankruptcy counsel; and Epiq Corporate Restructuring, LLC, as claims and noticing agent. The U.S. Trustee for Region 21 on Sept. 7, 2018, appointed seven creditors to serve on the official committee of unsecured creditors in the Chapter 11 case of 1 Global Capital LLC. The Committee tapped Stichter, Riedel, Blain & Postler, P.A. as its legal counsel; Conway MacKenzie, Inc. as financial advisor along with Dundon Advisers, LLC, as co-financial advisor. 100 CHESTER STATION: Case Summary & 2 Unsecured Creditors --------------------------------------------------------- Debtor: 100 Chester Station Road, LLC 18720 Brooke Road Sandy Spring, MD 20860 Business Description: 100 Chester Station Road, LLC is a Single Asset Real Estate (as defined in 11 U.S.C. Section 101(51B)). Chapter 11 Petition Date: December 4, 2018 Court: United States Bankruptcy Court District of Maryland (Greenbelt) Case No.: 18-25967 Judge: Hon. Lori S. Simpson Debtor's Counsel: Steven H. Greenfeld, Esq. COHEN, BALDINGER & GREENFELD, LLC 2600 Tower Oaks Blvd., Suite 103 Rockville, MD 20852 Tel: (301) 881-8300 Fax: (301) 881-8350 Email: steveng@cohenbaldinger.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Mahmud Ashfaq, managing member. A copy of the Debtor's two unsecured creditors is available for free at: http://bankrupt.com/misc/mdb18-25967_creditors.pdf A full-text copy of the petition is available for free at: http://bankrupt.com/misc/mdb18-25967.pdf 444 EAST 13: Exclusive Plan Filing Period Extended Through Nov. 30 ------------------------------------------------------------------ The Hon. Robert D. Drain of the U.S. Bankruptcy Court for the Southern District of New York, at the behest of 444 East 13 LLC, has entered an order extending the Debtor's exclusive period to file and solicit acceptances to a chapter 11 plan, on a final basis, through and including November 30, 2018 and December 31, 2018, respectively. As reported by the Troubled Company Reporter on September 21, 2018, the Debtor asked the Court to further extend its Exclusivity Periods for 60 days. Since its last request for a modest extension of the Exclusive Periods, the Debtor has continued its efforts towards selling the Property. The Debtor previously stated that it believed that a plan would be filed prior to the extension of the current Exclusive Periods, however, the Debtor is still working with prospective buyers on the sale of the Property, which the Debtor believes will be in an amount sufficient to satisfy its allowed claims in full. The Debtor also has continued to negotiate issues with certain tenants who are withholding rent. The Debtor's inability to resolve this consensually has affected the sale negotiations. However, the Debtor remained confident that it will be able to come to an agreement with the purchaser and once a contract for sale is negotiated, the Debtor will then file a plan. About 444 East 13 LLC 444 East 13 LLC owns and operates a residential apartment building located at 444 East 13th Street in the east village neighborhood of Manhattan, New York. The property is valued at $11 million. E. 9th St. Holdings owns and operates a residential apartment building located at 332 East 9th Street in the east village neighborhood of Manhattan, New York, valued at $8.82 million. Meanwhile, E. 10th St. Holdings owns and operates a residential apartment building located at 251 East 10th Street in the east village neighborhood of Manhattan, New York, which is valued at $7.5 million. The properties are encumbered by mortgages to 444 Lender LLC and E. Village Lender LLC (assigned to Metropolitan Commercial Bank). E. 9th St. Holdings, E. 10th St. Holdings and 444 East sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case Nos. 17-23141 to 17-23143) on July 21, 2017. David Goldwasser, authorized signatory of GC Realty Advisors LLC, manager signed the petitions. At the time of the filing, E. 9th St. Holdings disclosed $8,850,000 in total assets and $6,020,000 in total liabilities. E. 10th St. Holdings listed $7,590,000 in total assets and $3,980,000 in total liabilities. 444 East 13 LLC disclosed $11,030,000 in total assets and $8,980,000 in total debt. Judge Robert D. Drain presides over the cases. Robinson Brog Leinwand Greene Genovese & Gluck, P.C., is the Debtors' bankruptcy counsel. Sheldon Lobel PC, is the special zoning counsel. On Nov. 17, 2017, E. 9th St. filed its proposed Chapter 11 plan of liquidation and disclosure statement. 57 ELM STREET: Exclusive Solicitation Period Extended to January 8 ------------------------------------------------------------------ The Hon. John K. Sherwood of the U.S. Bankruptcy Court for the District of New Jersey, at the behest of 57 Elm Street Realty Holdings LLC and its affiliate, has extended the Debtors' exclusive period to solicit acceptances of their bankruptcy-exit plan through and including January 8, 2019. The Troubled Company Reporter has previously reported that the Debtors sought exclusivity extension due to the timing of the currently scheduled hearing on the Disclosure Statement and the pending Lenox Hill Motion. On June 28, 2018, the Debtors filed their Chapter 11 Plan along with their Disclosure Statement. After filing their First Exclusivity Motion, the Debtors provided Lenox Hill with a draft of their First Modified Disclosure Statement and First Modified Plans on Aug. 24. The Debtors received comments from Lenox Hill with respect to their First Modified Plans and Disclosure Statement. After revising their First Modified Plans and Disclosure Statement to take into account the comments from Lenox Hill, the Debtors provided Lenox Hill further revised documents on Sept. 4, and also provided many of the exhibits referenced in the First Modified Plans and Disclosure Statement. The Debtors then requested that the hearing on their First Exclusivity Motion be rescheduled from Sept. 6 to Sept. 13, 2018. However, Lenox Hill filed its objection to the First Exclusivity Motion, at which time the Court extended the Debtors' exclusivity to solicit acceptances of the Modified Plan and Disclosure Statement to Oct. 26, 2018. The Debtors believe that an extension of the exclusivity deadline to solicit acceptance of the First Modified Plan will provide them with adequate time to (a) obtain approval of the First Disclosure Statement at the hearing scheduled for Nov. 6, 2018; (b) conduct solicitation process; (c) prosecute confirmation of the Plan; and (d) complete their restructuring as efficiently as possible for the benefit of all stakeholders and parties-in-interest. About 57 Elm Street Realty Holdings 57 Elm Street Realty Holdings, LLC and affiliate Old Lumberyard Associates, L.P., filed separate Chapter 11 petitions (Bankr. D.N.J. Case No. 18-14279 and 18-14280) on March 2, 2018. 57 Elm Street Realty estimated $1 million to $10 million in assets and under $1 million in liabilities, and Old Lumberyard estimated $1 million to $10 million in liabilities. The case is assigned to Judge John K. Sherwood. The Debtor is represented by Lawrence S Berger, Esq. of Berger & Bornstein, LLC. AC I NEPTUNE: $5.75M Private Sale of Neptune Property Approved -------------------------------------------------------------- Judge Robert D. Drain of the U.S. Bankruptcy Court for the Southern District of New York authorized AC I Neptune, LLC's private sale of the real property located at 3501 Route 66, Neptune, New Jersey to Pinellas Gateway, LLC, pursuant to the terms of their Agreement of Purchase and Sale, dated as of Oct. 4, 2018, for $5.75 million. The sale is free and clear of all liens, claims, encumbrances and interests. The provisions of the Order will be self-executing. Notwithstanding anything to the contrary in the Agreement of Purchase and Sale, the Agreement of Purchase and Sale is modified as follows: a) The Purchaser waives the right to a Break-Up Fee upon entry of the Order; b) The Purchaser waives the right to file an application on notice to all interested parties for an Expense Reimbursement except in the event of a default by the Debtor under the Agreement of Purchase and Sale prior to Closing and all non-Debtor parties reserve their right to object to any such application; c) The Purchase Price will be and hereby is reduced from $5.8 million to $5.75 million; d) Paragraph 2.7 of the Agreement of Purchase and Sale will be and is amended to limit the Due Diligence Period to 90 days only and to eliminate any right to extend the initial 90 day Due Diligence Period set forth in the Agreement of Purchase and Sale; e) The closing will occur on the 60th day following the conclusion of the Due Diligence Period; f) Immediately upon entry of the Order, $25,000 of the $500,000 Deposit that the Purchaser has delivered to Stewart Title Guaranty Co., the escrow agent, will be deemed non-refundable, and the Debtor will cause the Escrow Agent to deliver the $25,000 Non-Refundable Deposit to tje counsel to Neptune Mortgage, Lowenstein Sandler LLP, to hold in escrow pursuant to paragraph (g), with the remaining $475,000 Deposit remaining refundable and in the possession of the Escrow Agent, subject to the terms of the Agreement of Purchase and Sale as modified by this Order until the expiration of the Due Diligence Period, and following the expiration of the Due Diligence Period all amounts on Deposit will become non-refundable to the Purchaser; g) If the Purchaser sends notice not to close or does not close, the $25,000 Non-Refundable Deposit will be immediately payable to Neptune Mortgage as payment for real estate taxes, insurance, other municipal charges and/or interest, and Lowenstein Sandler LLP will be authorized to release the $25,000 Non-Refundable Deposit to Neptune Mortgage; h) Except for the $25,000 Non-Refundable Deposit which is addressed supra, in the event that the remaining $475,000 Deposit becomes nonrefundable or otherwise due and payable to the Debtor under the Agreement of Purchase and Sale as modified by this Order, the Escrow Agent will immediately remit the $475,000 to Neptune Mortgage to be applied against the allowed secured claim of Neptune Mortgage and to serve as an adequate protection payment; i) In the event that Purchaser sends Purchaser’s Due Diligence Termination Notice to the Debtor and the Escrow Agent and/or Purchaser sends Seller a notice about whether it will or will not go forward with a closing on the sale of the Real Property, Purchaser will simultaneously provide a copy of any such notice to counsel for Neptune Mortgage; and j) Within seven business days of the entry of this Order, Buyer and Seller will execute an amendment to the Agreement of Purchase and Sale expressly incorporating the substantive terms of the Order, subject to review by Neptune Mortgage's counsel. At the Closing on the sale of the Real Property, the Debtor will pay or direct that Neptune Mortgage be paid by wire transfer the full amount of Neptune Mortgage;s allowed secured claim, including principal, interest, reasonable attorneys' fees and costs and reimbursement of amounts paid by Neptune Mortgage for real estate taxes, insurance and other municipal charges incurred prior to and after the petition date. This provision is without prejudice to the right of the Debtor to file an objection to all or a portion of Neptune Mortgage's claim. If the Debtor disputes any portion of Neptune Mortgage's claim, the undisputed portion will be paid to Neptune Mortgage at the closing by wire transfer and the parties will promptly ask the Court to resolve any dispute on shortened notice. Sale proceeds equal to the disputed portion of Neptune Mortgage's claim will be held by the Debtor's counsel in escrow pending either further Order of the Court or agreement of the parties (and such escrow will constitute payment for title insurance purposes). All other sale proceeds (net of closing costs permitted under the Agreement of Purchase and Sale) will be held by the Debtor's counsel in a separate escrow account and will not be disbursed pending further order of the Court. If the Purchaser timely sends or delivers to the Debtor a Purchaser's Due Diligence Termination Notice or the Purchaser does not close on the sale of the Real Property by the closing date set forth in the Order, Neptune Mortgage will be entitled to submit to the Court, (a) a certificate of the foregoing and (b) a proposed order granting Neptune Mortgage relief from the automatic stay to complete its foreclosure action in the Superior Court of New Jersey and permit the Sheriff of Monmouth County, New Jersey is permitted to issue a deed to the Real Property to Neptune Mortgage. The only basis to object to the entry of such an order is that the certificate is false. The Order approving of the Agreement of Purchase and Sale is final and not subject to higher and better offers. The Court, in its discretion and for cause, waives any stay of the Order under Bankruptcy Rules 6004(g) 6006(d) and 7062, such that the Order will be effective and enforceable immediately upon its entry, and the sale approved by the Order may close immediately upon entry of the Order, notwithstanding any otherwise applicable waiting periods. The Debtor reserves the right to make a subsequent application on notice to all parties seeking Court approval to pay the commission set forth in the Agreement of Purchase and Sale as modified by this Order to Newmark Knight Frank following Court approval of the Debtor's application to retain Newmark. A true copy of the Order will be served on all parties-in-interest within seven days of the date thereof. About AC I Neptune AC I Neptune LLC is a real estate company whose principal assets are located at 3501 Route 66 Neptune, New Jersey. AC I Neptune sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 18-12420) on Aug. 9, 2018. On Aug. 10, 2018, the case was transferred from the Manhattan Divisional Office to the White Plains Divisional Office and was assigned a new case number (Case No. 18-20007). At the time of the filing, the Debtor estimated assets of $1 million to $10 million and liabilities of $1 million to $10 million. Judge Stuart M. Bernstein presides over the case. ACUSPORT CORP: Wants to Keep Plan Exclusivity Through Jan. 31 ------------------------------------------------------------- ASPC Corp., formerly known as AcuSport Corporation requests the U.S. Bankruptcy Court for the Southern District of Ohio to extend: (1) the period during which Debtor has the exclusive right to file a chapter 11 plan to and including Jan. 31, 2019; and (2) the period during which Debtor has the exclusive right to solicit acceptances of any plan filed during the Exclusive Filing Period to and including Feb. 28, 2019. On Oct. 2, 2018, Debtor filed an Agreed Plan of Liquidation of Debtor and Official Committee of Unsecured Creditors and Disclosure Statement. Afterwards, the Court entered an Order scheduling the Disclosure Hearing for Nov. 30, 2018. The Debtor is seeking this second extension primarily to provide sufficient time for the Court (and all other parties-in-interest) to evaluate and, subject to the Court's findings, confirm the Plan (as it may be amended). As of Nov. 26, 2018, the Debtor has received three objections (including one informal objection) to its Disclosure Statement, but believes it has largely addressed all concerns raised by said parties. Following the Disclosure Statement hearing (currently scheduled for Nov. 30, 2018), the Debtor intends to seek confirmation of the Plan in the near term (subject to the Court's schedule). While Debtor may have ultimately been able to complete such process in the time period set by the Court in the First Exclusivity Order, Debtor, in an abundance of caution, seeks the extension to allow it to complete the confirmation process. About AcuSport Corp. Based in Bellefontaine, Ohio, AcuSport Corporation is a nationwide distributor of shooting sports products and business solutions for the independent firearms retailer with regional sales offices in Ohio, Pennsylvania, Georgia, Minnesota, Texas, Montana and California. AcuSport Corporation, based in Bellefontaine, OH, filed a Chapter 11 petition (Bankr. S.D. Ohio Case No. 18-52736) on May 1, 2018. In the petition signed by CFO John K. Flanagan, the Debtor estimated $10 million to $50 million in assets and $50 million to $100 million in liabilities. The Hon. John E. Hoffman Jr. presides over the case. The Debtor hired Allen Kuehnle Stovall & Neuman LLP, as local counsel; Bryan Cave Leighton Paisner LLP, as general counsel; Huron Transaction Advisory LLC, as investment banker; Huron Consulting Services LLC, as financial advisor; and Donlin Recano & Company, Inc., as claims noticing & solicitation agent. ALGOMA STEEL: S&P Assigns B- Issuer Credit Rating, Outlook Stable ----------------------------------------------------------------- On Nov. 30, 2018, Canada-based steel producer Algoma Steel Inc. emerged from The Companies' Creditors Arrangement Act with a new US$285 million term loan. S&P Global Ratings assigned its 'B-' long-term issuer credit rating to Algoma. The issuer credit rating on Algoma primarily reflects the company's limited operating breadth as a single site commodity steel producer, and historically volatile margins and credit measures. S&P s aid, "We expect the company's prospective credit measures will mainly benefit from materially lower debt levels following emergence from CCAA protection, and strong steel prices that we assume will persist over the next 12 months. However, the rating incorporates the potential that margins, leverage, and liquidity could materially weaken from a relatively modest decline in steel prices, which are near cycle-peak levels. The ratings are in line with the preliminary ratings we assigned on Nov. 14, 2018. The company has obtained the term loan financing and emerged from The Companies' Creditors Arrangement Act (CCAA) on terms consistent with our previous assumptions." Algoma is an integrated steel producer based in Sault Ste. Marie, Ont., and primarily manufactures hot and cold rolled steel sheet (sheet accounts for about 85% of sales) and plate. Over the past three years, the company has operated under creditor protection precipitated mainly by a significant deterioration in steel prices, high debt (that included significant pension contributions), and a contract dispute with its sole iron ore supplier. Algoma exited the CCAA proceedings at the end of November with a much improved capital structure and lower interest and pension funding commitments. Specifically, about US$1 billion of its existing senior secured debt have been converted into Algoma equity. The company's post-emergence debt structure includes a US$285 million term loan and largely undrawn US$250 million asset-based lending (ABL) facility. The financings' completion was required for Algoma's emergence from CCAA protection. S&P said, "The stable outlook reflects the material reduction in Algoma's estimated debt levels following the company's emergence from creditor protection, and our expectation that favorable steel prices over the next 12 months will limit downside risk to its liquidity. We estimate adjusted debt-to-EBITDA of below 3x in fiscal 2019 with relatively stable liquidity, but assume leverage will increase in fiscal 2020 mainly from lower steel margins. "We could downgrade the company over the next 12 months if earnings and liquidity were to weaken beyond our expectations. In our view, this could result from a sharp decline in steel prices (without an offsetting removal of tariffs) or higher-than-expected input costs. In this scenario, we would expect EBITDA interest coverage to decline below 2x, and likely consider the company's capital structure unsustainable. "Upside to the rating is considered unlikely over the next 12 months, based on Algoma's limited operating breath and high sensitivity to steel price fluctuations. Nevertheless, we could raise the ratings if we expect adjusted debt-to-EBITDA to remain below 3x. In our view, this could result from steel prices that exceed our expectations for a protracted period. We would also expect the company to generate positive free cash flow to an extent that meaningfully improves its liquidity position." ALL-STATE FIRE: $86K Sale of Augusta Property to Smiths Approved ---------------------------------------------------------------- Judge Thomas B. McNamara of the U.S. Bankruptcy Court for the District of Colorado authorized Raymond S. Gibler, an affiliate of All-State Fire Protection, Inc., to sell the real property located at 1211 SW 110th Street, Augusta, Kansas to Cleve Smith and Jaime Smith; and to accept payment of $85,627 as amounts owed to the Debtor under the Installment Contract for Deed The sale is free and clear of all liens, claims, interests and encumbrances. The $126,019 due and owing to secured creditor DiTech Financial, LLC will be paid in full as a condition of closing on the Property. Upon payment in full of the Purchase Price, the Debtor is authorized to instruct the escrow agent to record the Warranty Deed held in escrow. About All-State Fire Protection All-State Fire Protection, Inc., based in Wiggins, Colo., specializes in the installation of fire sprinkler systems for residential and commercial clients. All-State Fire Protection filed a Chapter 11 petition (Bankr. D. Colo. Case No. 17-15844) on June 23, 2016, estimating $1 million to $10 million in assets and liabilities. The petition was signed by Raymond Gibler, president. The Hon. Thomas B. McNamara presides over the case. Kenneth J. Buechler, Esq., at Buechler & Garber, serves as bankruptcy counsel to the Debtor. ALPHA HOLDING: Moody's Affirms B1 CFR & Alters Outlook to Negative ------------------------------------------------------------------ Moody's Investors Service has revised Alpha Holding, S.A. de C.V.'s outlook to negative and affirmed its B1 issuer, Corporate Family and senior unsecured debt ratings. The rating action follows the finance company's publication of its financial statements for the first nine months of 2018. The following AlphaCredit ratings were affirmed: Long-term global local currency issuer rating of B1, Negative From Stable Short-term global local currency issuer rating of Not Prime Long-term foreign currency issuer rating of B1, Negative From Stable Short-term foreign currency issuer rating of Not Prime Long-term global local currency Corporate Family rating of B1 Long-term foreign currency senior unsecured debt rating of B1, Negative From Stable Outlook, Changed To Negative From Stable RATINGS RATIONALE Moody's changed the outlook on AlphaCredit's ratings to negative because of the company's much weaker than expected earnings year-to-date, which will limit improvements in its currently negative adjusted capitalization metrics. The outlook also considers revisions to the company's business plan that entail more aggressive loan expansion than originally expected, which could expose AlphaCredit to higher asset risks as these loans season and lead to lower than previously anticipated levels of liquidity. Moody's nevertheless affirmed AlphaCredit's ratings based on the company's ample growth prospects and focus on secured lending, mainly in the form of payroll-deducted loans to Federal employees in Mexico, factoring, operating leases and payroll-linked loans in Colombia, which should help limit the deterioration in asset quality despite the company's very aggressive growth. The ratings are also supported by a decline in the company's nonperforming loan ratio and improved operating efficiency, which has partially offset the impact of narrower than expected interest spreads on earnings. Much lower than expected profitability will limit improvement in weak capitalization. The company's earnings this year are likely to be less than half of what was previously expected, with net income now expected to total just 0.4% of total assets this year and 1% in 2019, compared to the initial forecasts of 1.8% and 3.7%, respectively. Average lending rates have been below initial expectations due to a growth focus on relatively less yielding, though relatively less risky, portfolios. In addition, the company's funding costs were considerably higher than anticipated. Moreover, the company has had a significant negative carry on the unused proceeds of its recent debt issuance, stemming from the company's strategy to raise funds ahead of expected market volatility. As lending continues to grow and its liquidity levels decline, however, this negative carry will diminish, reducing pressure on earnings. Nevertheless, Moody's notes that the company's operating expenses have been considerably lower than expected, at 5% of total assets through the first nine months of 2018 (annualized), compared to initial forecasts of 8%, as the company has realized improved economies of scale, which has helped to offset the impact of the lower interest spreads on its bottom line. As a result of the lower than expected earnings, AlphaCredit's tangible common equity equaled -4.4% of tangible managed assets as of September 2018, after increasing by just MXN65 million since September 2017, compared to its initial expectation that it would improve by MXN250 million (by the end of 2018). Moody's deducts the value of the contracts and other agreements with government entities that the company acquired in 2016 because their value in times of stress, and hence their loss absorption capacity, will be low. Moody's as such deducts the MXN3.7 billion value ascribed to these contracts (equal to 21% of total assets), which are fundamental to its business, and other intangibles including deferred taxes, which leads to a negative adjusted capitalization ratio. Outsize loan growth signals an increase in asset risk. Non-performing loans fell to 3.3% of gross loans as of September 2018 from 4.8% as of year-end 2017 due to significant write-offs of problem loans related to its Prestaciones Finmart, S.A.P.I de C.V., SOFOM, ENR acquisition in 2016. The company's solid asset quality is supported by its continued focus on payroll-linked loans to government employees and retirees. However, the expansion of AlphaCredit's loan book has accelerated dramatically during 2018, with growth expected to reach almost 60%, up from an already very high 33% in 2017 (organic growth) and well above the 40% Moody's has initially anticipated. Despite the security provided by the company's preferred access to its borrowers' payroll deposit, Moody's believes this will expose the company to higher asset risks and credit costs over the next year as these loans season. The higher credit costs could complicate the company's efforts to improve earnings. Higher-than-expected deterioration in liquidity profile. The company's liquid assets have come down in conjunction with its increased lending and are expected to continue to decline, to less than 5% of total assets by year-end 2019. While the company expects this level of liquidity to allow it to raise debt in times of stress, Moody's had initially expected AlphaCredit would maintain at least 10% of its total assets in liquid investments. This will also halve the coverage of the upcoming 24 months' maturities provided by liquid assets to just 60% by year-end 2018, from original expectations for 2017. Moody's believes this increases the risk that the company would need to dramatically cut back on lending to preserve cash in order to repay its debts should it be unable to refinance them because of a market disruption or a loss of market access for any reason, which could have a material and lasting negative impact on its franchise. At the same time, Moody's notes that the company has issued more secured debt than was previously anticipated, which if the trend continues could reduce its ability to raise additional funds in the future. Secured debt now equals a little over 40% of gross tangible assets. WHAT COULD CHANGE THE RATINGS UP/DOWN The company's ratings could be downgraded, in line with their negative outlook, if loan growth continues to significantly exceed previous expectations, delinquencies begin to rise, profitability appears likely to continue to fall short of previous targets, liquidity does not recover to previously anticipated levels, and/or adjusted capital ratios do not reach initial forecasts. While there is no upward pressure on the company's ratings at this time, the outlook could be stabilized and the ratings affirmed if over the next year loan growth slows to previously expected levels, liquidity recovers, and profitability and capital appears likely to reach initial targets. The principal methodology used in these ratings was Finance Companies published in December 2016. ANDREW MIGELL: Mom Wins Bankruptcy Court Battle ----------------------------------------------- Burns & Levinson partner Robert J. O'Regan received another victory in his role as the conservator for Alice Migell, whose nearly $5 million estate was pilfered by one of her sons. The son, Andrew Migell, filed two back-to-back Chapter 7 bankruptcy cases (exactly one year apart) in U.S. Bankruptcy Court Middle District of Florida, Orlando Division, to protect himself from returning some of the over $2 million under a Massachusetts Appeals Court decision issued on November 2, 2016. The first bankruptcy case was dismissed after the judge ruled it was fraudulent, the case was returned to Massachusetts state court for collection. Just as a state court receiver was prepared to liquidate a number of real estate properties, Andrew Migell filed a second bankruptcy petition to take advantage of the automatic stay. In both bankruptcy petitions, he claimed to own real estate in New Hampshire valued at over $400,000 but then, when it appeared the property would be sold through the Bankruptcy Court to repay his mother, he dropped the property from his Bankruptcy Court list of assets. This led to a trial before Orlando U.S. Bankruptcy Court Judge Karen Jennemann. On November 28, 2018, Judge Jennemann ruled that Andrew Migell had attempted to "make a mockery of the judicial system and prevent the Chapter 7 Trustee from liquidating the property," and authorized the bankruptcy trustee to liquidate the property to satisfy the Massachusetts judgments in favor of his mother. The case dates back to 2009 when Mr. O'Regan filed a lawsuit (as Alice Migell's guardian) against Andrew Migell and his wife Kai Sun Migell after uncovering their efforts to divert virtually all of the assets that Mrs. Migell had, either in her own name or as her inheritance following the death of her husband to whom she had been married for over 40 years. Mr. O'Regan recovered real estate valued in excess of $2 million in addition to approximately $400,000 that Andrew Migell kept from selling real estate that was held in a trust he controlled. The returned property included a vacation home in Hull, a house in Wayland, and rental property. In 2013, the Massachusetts Probate and Family Court ruled that Andrew and Kai Sun Migell had orchestrated a "continuous, willful campaign of fraudulent, obstructionist behavior designed to separate Mrs. Migell from her assets." The court also ordered them to pay $512,680 in attorneys' costs that Alice Migell incurred to recover her own property and to defend against their attempts to impoverish her after they "set out on a ruthless campaign to totally and utterly deprive his elderly, ailing and recently widowed mother of her entire estate." These decisions were upheld by the Massachusetts Appeals Court in 2014 and 2016, with the court again requiring the son and his wife to pay Mr. O'Regan's legal fees. "We have spent nine long years working to regain control of assets that Mrs. Migell should have so she can live out the rest of her time with dignity and in comfort. She is now 85 years old," said Mr. O'Regan. "In over 30 years of practicing law, I don't think I have seen a worse case of elder financial abuse. I feel fortunate to have been able to serve the court to help Mrs. Migell recover her money and property. The scheme here was to impoverish Mrs. Migell so that the taxpayers would pay her expenses while Andrew and Kai got everything. Anyone who takes advantage of the most vulnerable people in society should held accountable for the damage they do. I hope our continued pursuit of justice in this case sends a loud message that this type of exploitation will not succeed." About Burns & Levinson LLP Burns & Levinson -- http://www.burnslev.com-- is a full-service law firm with over 125 lawyers in Boston, Providence and other regional offices. Its areas of expertise include: business/finance, business litigation, divorce/family law, venture capital/emerging companies, employment, estate planning, government investigations, intellectual property, M&A/private equity, probate/trust litigation, and real estate. ARALEZ PHARMACEUTICALS: Delays Plan Through Conclusion of Sale -------------------------------------------------------------- Aralez Pharmaceuticals US Inc. and its debtor-affiliates request the U.S. Bankruptcy Court for the Southern District of New York to extend the exclusive periods to file a chapter 11 plan of reorganization and to solicit acceptances thereof by 60 days, through and including February 6, 2019 and April 8, 2019, respectively. The Debtors submit that these chapter 11 cases involve seven debtor-entities that have over $280 million in consolidated outstanding indebtedness (including approximately $277 million of secured debt) and hundreds of employees, creditors, customers, vendors and contract counter-parties. Complicating matters, the Debtors' operations rely in part of their intertwined footprint which extends to four additional affiliates who operate internationally. On the Petition Date, Aralez Pharmaceuticals Inc., the direct or indirect parent company of the Debtors, and the Debtors' affiliate, Aralez Pharmaceuticals Canada Inc. ("Canadian Debtors"), commenced plenary restructuring proceedings in the Ontario Superior Court of Justice (Commercial List) under the Companies' Creditors Arrangement Act. On November 1, 2018, an order was entered in these chapter 11 cases approving certain Cross Border Insolvency Protocol to facilitate coordination when necessary between the CCAA Proceedings and the Debtors' Cases. The Debtors relate that, together with the Canadian Debtors, they have proposed sales that total approximately $240 million in consideration. Pursuant to the Court's bidding procedures order, competing bids are due November 26, 2018, an auction has been scheduled to take place on November 29, 2018, and sale hearings are scheduled to take place on December 4 and 11, 2018. The Debtors argue that meaningful plan progress cannot be made until the results of their bidding and sale process are known. Moreover, the Debtors claim that they are not seeking an extension of the Exclusive Periods as a means to exert pressure on the relevant parties in interest, but rather to ensure that the Exclusive Periods extend beyond the sale of their assets to avoid a potentially costly, and value-destructive bankruptcy. 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 tapped Willkie Farr & Gallagher LLP, as their counsel; Alvarez & Marsal Healthcare Industry Group, LLC as restructuring and financial advisor; Moelis & Company as investment banker; RSM US LLP as tax advisor; and Prime Clerk LLC as claims, noticing and solicitation agent. The U.S. Trustee for Region 2 appointed an official committee of unsecured creditors on August 27, 2018. The committee tapped Brown Rudnick LLP as legal counsel; Berkeley Research Group, LLC and Dundon Advisers LLC as financial advisors; and Baily Homan Smyth McVeigh, Solicitors and McMillan LLP as special counsel. ARLEN HOUSE: Needs Additional Time to Continue Plan Talks --------------------------------------------------------- Arlen House East 715, LLC requests the U.S. Bankruptcy Court for the Southern District of Florida to extend the exclusivity period within which to negotiate with creditors and amend plan and disclosure statement for 90 days to March 20, 2018, and to solicit acceptances for additional 60 days to May 20, 2019. The Debtor and Ocwen Bank have not yet negotiated a consensual plan because Ocwen has not shown up in this case yet. Thus, the Debtor asserts that additional time is needed to allow Debtor to proceed with its negotiation with Ocwen, and perhaps mediation. About Arlen House East 715 Based in Miami Beach, Florida, Arlen House East 715, LLC, filed a voluntary petition under chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 18-16263) on May 24, 2018, listing under $1 million in both assets and liabilities. The Debtor is represented by Joel M. Aresty, Esq., at Joel M. Aresty, P.A., as counsel. AYTU BIOSCIENCE: Expands Size of Board By Two Members ----------------------------------------------------- The Board of Directors of Aytu BioScience, Inc., has expanded the size of the Board of Directors by two seats and elected Ketan B. Mehta as a director, according to a Form 8-K filed with the Securities and Exchange Commission. The Company anticipates that the Board of Directors will elect Steven J. Boyd to fill the remaining vacancy in the first quarter of 2019. Mr. Mehta, age 57, is the president and CEO and founder of Tris Pharma. Before founding Tris Pharma in 2000, Mr. Mehta worked for Capsugel (formerly a division of Pfizer) in sales, marketing and business development for eight years. Prior to Capsugel, he spent approximately six years as a pharmaceutical scientist for three different large pharmaceutical companies. Mr. Mehta is a pharmacist by education and holds an MS degree in Pharmaceutical Sciences from the University of Oklahoma. The Board of Directors believes that Mr. Mehta's experience as a founder and CEO of a pharmaceutical company makes him a valuable member of the Board of Directors. Mr. Mehta will receive the same compensation as other independent directors. Mr. Mehta beneficially owns 100% of the ownership interest in Tris Pharma. On Nov. 2, 2018, the Company entered into a License, Development, Manufacturing and Supply Agreement with TRIS Pharma. Pursuant to the Agreement, TRIS Pharma granted to the Company an exclusive license in the United States related to Tuzistra XR. In addition, TRIS Pharma has agreed to grant an exclusive license in the United States related to a complementary antitussive referred to as "CCP-08" for which marketing approval has been sought by TRIS Pharma under a New Drug Application filed with the FDA. As consideration for the license granted, the Company made an upfront cash payment to TRIS Pharma of $500,000 and also issued to TRIS Pharma 400,000 shares of Series D Convertible Preferred Stock. The Company expects to pay Tris Pharma more than $40.0 million over the life of the Tris Agreement, assuming, among other items, that (i) CCP-08 receives FDA approval, (ii) the Products are accepted by the market, and (iii) expected sales targets and objectives are met. No assurance can be given that any of these items will occur. Mr. Boyd, age 37, is the chief investment officer and founder of Armistice, a hedge fund focused on the health care and consumer sectors based in New York City. Prior to founding Armistice, Mr. Boyd was a senior research analyst at Senator Investment Group, an associate at York Capital, an analyst at SAB Capital Management and an analyst at McKinsey & Company. Mr. Boyd is a graduate of the University of Pennsylvania, with degrees in economics and political science. He serves on the boards of directors of each of Cerecor Inc. and Eyegate Pharmaceuticals, Inc. The Board of Directors believes that Mr. Boyd's experience in the capital markets and strategic transactions, and his focus on the healthcare industry makes him a valuable member of the Board of Directors. Mr. Boyd has elected to not receive any compensation for his board service. Armistice has purchased securities from the Company in three transactions since Jan. 1, 2017, including (i) $3.0 million for shares of preferred stock, common stock and warrants in the Company's August 2017 private placement, (ii) $2.0 million for shares of preferred stock, common stock and warrants in the Company's March 2018 public offering, (iii) $615,000 for the exercise of warrants in March 2018 and (iv) $4.0 million for shares of preferred stock, common stock and warrants in the Company's October 2018 public offering. About Aytu BioScience Englewood, Colorado-based Aytu BioScience, Inc. (OTCMKTS:AYTU) -- http://www.aytubio.com/-- is a commercial-stage specialty pharmaceutical company focused on global commercialization of novel products addressing significant medical needs. The company currently markets Natesto, the only FDA-approved nasal formulation of testosterone for men with hypogonadism, ZolpiMist, an FDA-approved, commercial-stage prescription sleep aid indicated for the short-term treatment of insomnia characterized by difficulties with sleep initiation, and recently acquired Tuzistra XR, the only FDA-approved 12-hour codeine-based antitussive oral suspension. Additionally, Aytu is developing MiOXSYS, a novel, rapid semen analysis system with the potential to become a standard of care for the diagnosis and management of male infertility caused by oxidative stress. MiOXSYS is commercialized outside of the U.S. where it is a CE Marked, Health Canada cleared, Australian TGA approved, Mexican COFEPRAS approved product, and Aytu is planning U.S.-based clinical trials in pursuit of 510k de novo medical device clearance by the FDA. Aytu's strategy is to continue building its portfolio of revenue-generating products, leveraging its focused commercial team and expertise to build leading brands within large, growing markets. Aytu Bioscience reported a net loss of $10.18 million for the year ended June 30, 2018, compared to a net loss of $22.50 million for the year ended June 30, 2017. As of Sept. 30, 2018, the Company had $17.98 million in total assets, $7.85 million in total liabilities and $10.13 million in total stockholders' equity. EKS&H LLLP, in Denver, Colorado, the Company's auditor since 2015, issued a "going concern" qualification in its report on the consolidated financial statements for the year ended June 30, 2018, citing that the Company has suffered recurring losses from operations and has an accumulated deficit that raise substantial doubt about its ability to continue as a going concern. AYTU BIOSCIENCE: Issues $5 Million Promissory Note to Armistice --------------------------------------------------------------- Aytu BioScience, Inc. issued on Nov. 29, 2018, a secured, non-convertible $5.0 million promissory note to Armistice Capital, as disclosed in a Form 8-K filed with the Securities and Exchange Commission. The Armistice Note is secured by the future revenue stream from the products licensed to the Company under the License, Development, Manufacturing and Supply Agreement between the Company and TRIS Pharma, Inc. The Armistice Note carries an annual interest rate of 8% and has a three-year term with principal and interest payable at that time. The Company has the right in its sole discretion to repay the Armistice Note without penalty at any time after Dec. 29, 2018. About Aytu BioScience Englewood, Colorado-based Aytu BioScience, Inc. (OTCMKTS:AYTU) -- http://www.aytubio.com/-- is a commercial-stage specialty pharmaceutical company focused on global commercialization of novel products addressing significant medical needs. The company currently markets Natesto, the only FDA-approved nasal formulation of testosterone for men with hypogonadism, ZolpiMist, an FDA-approved, commercial-stage prescription sleep aid indicated for the short-term treatment of insomnia characterized by difficulties with sleep initiation, and recently acquired Tuzistra XR, the only FDA-approved 12-hour codeine-based antitussive oral suspension. Additionally, Aytu is developing MiOXSYS, a novel, rapid semen analysis system with the potential to become a standard of care for the diagnosis and management of male infertility caused by oxidative stress. MiOXSYS is commercialized outside of the U.S. where it is a CE Marked, Health Canada cleared, Australian TGA approved, Mexican COFEPRAS approved product, and Aytu is planning U.S.-based clinical trials in pursuit of 510k de novo medical device clearance by the FDA. Aytu's strategy is to continue building its portfolio of revenue-generating products, leveraging its focused commercial team and expertise to build leading brands within large, growing markets. Aytu Bioscience reported a net loss of $10.18 million for the year ended June 30, 2018, compared to a net loss of $22.50 million for the year ended June 30, 2017. As of Sept. 30, 2018, the Company had $17.98 million in total assets, $7.85 million in total liabilities and $10.13 million in total stockholders' equity. EKS&H LLLP, in Denver, Colorado, the Company's auditor since 2015, issued a "going concern" qualification in its report on the consolidated financial statements for the year ended June 30, 2018, citing that the Company has suffered recurring losses from operations and has an accumulated deficit that raise substantial doubt about its ability to continue as a going concern. BENJYS KOSHER: Dec. 20 Auction of Substantially All Assets Set -------------------------------------------------------------- Judge Elizabeth S. Stong of the U.S. Bankruptcy Court for the Eastern District of New York authorized the bidding procedures and the Asset Purchase Agreement with Diana Nisanova of Benjys Kosher Pizza & Dairy Restaurant, Inc., doing business as Benjys, in connection with the sale of substantially all assets and related personal property for $40,000, subject to higher and better offers. The Debtor will cause to be served, within five business days after issuance of the Bidding Procedures Order, (i) the Notice of Bid Deadline, Auction, and Sale Hearing, (ii) the Bidding Procedures Order, and (iii) the Sale Package upon all interested parties. Subject to the terms and conditions set forth in the Bidding Procedures, the Debtor is authorized and directed to (a) solicit any person to become a Potential Bidder, (b) permit Potential Bidders to conduct a due diligence investigation in connection with the Sale, (c) determine whether a bid timely submitted by a Potential Bidder is a Qualified Bid, (d) if one or more Qualified Bids is submitted, conduct an Auction, (e) at the conclusion of such Auction, designate the highest or otherwise best offer as the Prevailing Bidder and the next highest or otherwise best offer and the Back-Up Bidder, and (f) seek Bankruptcy Court approval at the Sale Hearing of the Prevailing Bid submitted by the Prevailing Bidder and the Back-Up Bid submitted by the Back-Up Bidder. The salient terms of the Bidding Procedures are: a. Bid Deadline: Dec. 17, 2018 at 12:00 p.m. (ET) b. Baseline Bid: The Debtor, will select what they determine to be the highest or best Qualified Bid for the Purchased Assets to serve as the starting point at the Auction. Absent a higher bid prior to the Auction, the Baseline Bid will be the bid of Diana Nisanova in the amount of $40,000. c. Deposit: $20,000 d. Auction: The Debtor will conduct an Auction commencing at 2:00 p.m. (ET) on Dec. 20, 2018 at Morrison Tenenbaum PLLC, 87 Walker Street, Floor 2, New York, New York, 10013 or such other time or place as the Debtor, at least two business days before the Auction, notifies all Qualified Bidders who have submitted Qualified Bids. e. Bid Increments: $1,000 f. Sale Hearing: Jan. 10, 2019 at 10:30 a.m. (ET) g. Closing: On or before 14 days after entry of the Sale Order h. Parties with a lien that secures an allowed claim may credit bid. i. Sale ObjectionDeadline: Jan. 2, 2019 at 5:00 p.m. (ET) A copy of the Bidding Procedures and the Agreement attached to the Order is available for free at: http://bankrupt.com/misc/Benjys_Kosher_30_Order.pdf Notwithstanding Bankruptcy Rules 6004(h) and 6006(d), the Bidding Procedures Order will not be stayed for 14 days after its entry and will be effective and enforceable immediately upon signature thereof. About Benjys Kosher Pizza & Dairy Restaurant Inc. d/b/a Benjys Benjys Kosher Pizza & Dairy Restaurant Inc. d/b/a Benjys is a counter-serve kosher pizzeria that has everything from breakfast & ice cream to sushi & falafel. Benjys Kosher Pizza & Dairy Restaurant Inc. d/b/a Benjys filed a Chapter 11 petition (Bankr. E.D.N.Y. Case No. 18-41353) on March 12, 2018, listing under $1 million in both assets and liabilities. The case is assigned to Judge Elizabeth S. Stong. Lawrence Morrison, at Morrison Tenenbaum PLLC, is the Debtor's counsel. BLACK BOX: Facing Three Suits Over AGC Merger Agreement ------------------------------------------------------- A purported stockholder filed on Nov. 29, 2018 a putative class action lawsuit in the Court of Common Pleas of Washington County, Pennsylvania, captioned Michael Wood v. Black Box Corporation, et al., Case No. 2018-6696 (PA Washington CT. C.P.). The Wood Complaint names the Company and the Company's Board of Directors as defendants. The Wood Complaint alleges that the Company Board violated fiduciary duties owed to the Company's public shareholders, by, among other things, purportedly failing to obtain for the Company's stockholders the highest value available for the Company in the marketplace. The Wood Complaint seeks, among other things, to enjoin the Merger Agreement and the Offer unless or until the Company adopts and implements a procedure or process to obtain the highest possible value in the best interests of the Company's stockholders, or, alternatively, to recover damages if the Offer is consummated prior to the entry of the court's final judgment. Also on Nov. 29, 2018, a purported stockholder filed a putative class action lawsuit in the United States District Court for the District of Delaware, captioned Adam Franchi v. Black Box Corporation, et al., Case No. 1:18-cv-01890 (D. Del.). The Franchi Complaint names the Company, the Company Board, and the Parent Entities as defendants. The Franchi Complaint alleges that the defendants violated federal securities laws by filing, or causing the Company to file, a Schedule 14D-9 Solicitation/Recommendation Statement in connection with the Transactions that omits purportedly material information. The Franchi Complaint seeks, among other things, to enjoin the closing of the Transactions or, alternatively, to recover damages if the Transactions close. On Nov. 30, 2018, a purported stockholder filed a putative class action lawsuit in the United States District Court for the Central District of California, captioned James Adie v. Black Box Corporation, et al., Case No. 5:18-cv-02537 (C.D Cal.). The Adie Complaint names the Company and the Company Board as defendants. The Adie Complaint alleges that the defendants violated federal securities laws by filing, or causing the Company to file, a Schedule 14D-9 Solicitation/Recommendation Statement in connection with the Offer that omits purportedly material information. The Adie Complaint seeks, among other things, to enjoin the closing of the Offer unless and until the requested information is disclosed or, alternatively, to recover damages. The Company believes that the Actions are without merit. As previously reported, a wholly-owned subsidiary of global solutions integrator AGC Networks Ltd (BSE/NSE: AGCNET), AGC Networks Pte. Ltd. in Singapore and Black Box Corporation have entered into a definitive merger agreement under which AGC Singapore would acquire all the outstanding shares of Black Box for $1.08 per share in cash, subject to customary closing conditions and regulatory approvals. 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 switching. 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 Sept. 29, 2018, Black Box had $297.8 million in total assets, $237.8 million in total liabilities, and $59.94 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. BON-TON STORES: $12.5M Sale of Wilmette Property Partly Granted --------------------------------------------------------------- Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware authorized in part and denied in part The Bon-Ton Stores, Inc., and its affiliates, together with the Bon-Ton Purchaser, to enter into the Purchase and Sale Agreement dated Oct. 4, 2018 by and between Seller Bonstores Realty Two, LLC, and the Bon-Ton Purchaser and 3200 Lake Avenue, LLC, in connection with the sale of their interest in the real property located in Wilmette, Illinois, together with certain personal property located thereon, for 12.5 million. The Objection is sustained, in part, to the extent the Movants ask to sell the Property free and clear of the Liens, Claims, Encumbrances and Interests set forth in the REA and the Sub-Ground Lease, as set forth in the Order. Based upon the Court's determination that the ROFO/Option Provisions of the REA are severable from the REA and such provisions constitute separate executory contracts, the Debtors are authorized to reject the ROFO/Option Provisions of the REA. Upon rejection of the ROFO/Option Provisions no party, including, without limitation, the Developer and the Sublessee, may ask specific performance of the ROFO/Option Provisions and none of the Debtors, the Bon-Ton Purchaser, the Purchaser, or any designee, successor or assignee, will be compelled to render specific performance of the ROFO/Option Provisions. Based on the request of the Debtors and the Bon-Ton Purchaser pursuant to the Motion for authority to reject the Sub-Groound Lease, the Debtors' rejection of the Sub-Ground Lease is approved, subject to any rights of Sublessee that may exist. Edens Annex LLC, the Sublessee, elects to exercise its rights under Section 365(h)(l)(A)(ii). The automatic stay pursuant to section 362 of the Bankruptcy Code is modified with respect to the Debtors to the extent necessary, without further order of the Court, to allow the Bon-Ton Purchaser and the Purchaser to take any and all actions permitted or required to effectuate the Sale. The Bon-Ton Purchaser and the Purchaser will not be required to ask or obtain any further relief from the automatic stay under section 362 of the Bankruptcy Code to enforce any of their remedies with respect to the Sale or any document related to the Sale. Notwithstanding Bankruptcy Rules 4001 and 6004, or any other law that would serve to stay or limit the immediate effect of the Order, and finding that ample cause exists, the Order will be effective and enforceable immediately upon entry, and its provisions will be self-executing. The Order constitutes a final order within the meaning of 2s U.S.C. Section 158(a). All time periods set fo1th in the Order will be calculated in accordance with Bankruptcy Rule 9006(a). About The Bon-Ton Stores The Bon-Ton Stores, Inc. (OTCQX: BONT) -- http://www.bonton.com/-- with corporate headquarters in York, Pennsylvania and Milwaukee, Wisconsin, operates 250 stores, which includes nine furniture galleries, in 23 states in the Northeast, Midwest and upper Great Plains under the Bon-Ton, Bergner's, Boston Store, Carson's, Elder-Beerman, Herberger's and Younkers nameplates. The stores offer a broad assortment of national and private brand fashion apparel and accessories for women, men and children, as well as cosmetics and home furnishings. The Bon-Ton Stores, Inc., and nine affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case No. 18-10248) on Feb. 4, 2018. In the petitions signed by Executive Vice President and CFO MichaelCulhane, Bon-Ton Stores disclosed total assets at $1.58 billion and total debt at $1.74 billion. The Bon-Ton Stores tapped Paul, Weiss, Rifkind, Wharton & Garrison LLP as counsel; Young Conaway Stargatt & Taylor, LLP as co-counsel; Joseph A. Malfitano, PLLC, as special counsel; PJT Partners LP as investment banker; AlixPartners LLP as restructuring advisor and AP Services, LLC as financial advisor; and A&G Realty Partners LLC, as real estate advisor; and Prime Clerk LLC, as administrative advisor. Andrew R. Vara, Acting U.S. Trustee for Region 3, on Feb. 15, 2018, appointed seven creditors to serve on the official committee of unsecured creditors in the Chapter 11 case. Counsel for the creditors' committee are Jeffrey N. Pomerantz, Esq., Robert J. Feinstein, Esq., and Bradford J. Sandler, Esq., at Pachulski Stang Ziehl & Jones LLP. An investor group comprised of DW Partners, LP, Namdar Realty Group and Washington Prime Group, Inc., primarily as secured mortgage lender; and AM Retail Group, Inc., who submitted a going concern bid for the Debtors' assets, are represented by John Lyons, Esq., at DLA Piper LLP (US). Co-Counsel to the Ad Hoc Second Lien Noteholder Group are Norman L. Pernick, Esq., J. Kate Stickles, Esq., and Katherine M. Devanney, Esq., at Cole Schotz, P.C.; and Sidney P. Levinson, Esq., Genna L. Ghaul, Esq., Charles S. Wittmann-Todd, Esq., Bruce Bennett, Esq., and Joshua M. Mester, Esq., at Jones Day. Co-Counsel to the DIP Tranche A-1 Documentation Agent, Crystal Financial LLC, are Mark D. Collins, Esq., and Joseph Charles Barsalona II, Esq., at Richards, Layton & Finger, P.A.; and Matthew P. Ward, Esq., at Womble Bond Dickinson (US) LLP; and Jonathan D. Marwill, Esq., and John Ventola, Esq., at Choate Hall & Stewart LLP. Co-Counsel to the Administrative Agent, Bank of America, N.A., are Julia Frost-Davies, Esq., Robert A.J. Barry, Esq., and Amelia C. Joyner, Esq., at Morgan, Lewis & Bockius LLP. Co-Counsel to the Second Lien Trustee, Wells Fargo Bank, N.A. As indenture trustee and collateral agent for the Debtor's 8.00% Second Lien Senior Secured Notes Due 2021, are Emily Kathryn Devan, Esq., and Luke A. Sizemore, Esq., at Reed Smith LLP. BREITBURN ENERGY: Investor Files Suit Against Two Brokerage Firms ----------------------------------------------------------------- A claim filed against two brokerage firms, D.A. Davidson & Co. and Raymond James & Associates, Inc., alleges that these firms recommended BreitBurn Energy Partners LP and LINN Energy LLC, two oil and gas companies, which became nearly worthless and declared bankruptcy. The claim against D.A. Davidson & Co. and Raymond James & Associates, Inc. was filed with FINRA by the Mark A. Tepper law firm, which is representing the Claimant's fight for recovery of losses that she suffered. The claim alleges that the Claimant, a 56-year-old single woman with limited investment knowledge and experience, was dependent on her brokers who took advantage of her trust by making unsuitable recommendations to buy, and then to hold, high risk leveraged oil and gas securities that she did not understand. "Any person who understood the high risk would not have followed either broker's high risk recommendations," the Claim further alleges. Among the claims alleged, is that D.A. Davidson & Co. failed to supervise its broker, Ralph Hubert Ames and Raymond James failed to supervise its broker, Bill Council. "Respondents are liable for their brokers' activities, as well as their individual failure to detect and prevent their brokers' wrongdoing," the Claim contends. Investors who recovered losses in recent months after Brokers recommended Linn or BreitBurn have praised the Mark Tepper Law firm for its work in representing their claims. For a free case evaluation from the Mark A. Tepper law firm, email attorney Mark Tepper at askmark@marktepper.com or call 954-961-0096. About Mark A. Tepper, P.A. Attorney Mark A. Tepper -- http://www.marktepper.com/-- is the former Chief Trial Counsel at the New York Attorney General's Bureau of Investor Protection and Securities. He has earned the reputation of "Investor Advocate" while practicing law for over 40 years representing individual investors. FINRA arbitrators have upheld stockbroker fraud claims filed by Mr. Tepper against many brokerage firms. A member of the Florida, New York and California Bars, Mr. Tepper is peer-reviewed for 18 consecutive years as AV PREEMINENT [(R)] for ethical standards and legal ability. It's the highest rating of lawyers in the Martindale-Hubbell Law Directory. About Breitburn Energy Breitburn Energy Partners LP is engaged in the acquisition, exploitation and development of oil and natural gas properties, Midstream Assets, and a combination of ethane, propane, butane and natural gasoline that when removed from natural gas become liquid under various levels of higher pressure and lower temperature, in the United States. Operations are conducted through Breitburn Parent's wholly-owned subsidiary, Breitburn Operating LP, and BOLP's general partner, Breitburn Operating GP LLC. Breitburn Energy Partners LP and 21 of its affiliates filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 16-11390) on May 15, 2016. In the petitions signed by James G. Jackson, executive vice president and CFO, Breitburn disclosed assets of $4.71 billion and liabilities of $3.41 billion. The Debtors tapped Ray C Schrock, Esq., and Stephen Karotkin, Esq., at Weil Gotshal & Manges LLP, as bankruptcy counsel. The Debtors hired Steven J. Reisman, Esq., and Cindi M. Giglio, Esq., at Curtis, Mallet-Prevost, Colt & Mosle LLP as their conflicts counsel. The Debtors tapped Alvarez & Marsal North America, LLC, as financial advisor; Lazard Freres & Co. LLC as investment banker; and Prime Clerk LLC as claims and noticing agent. An Official Committee of Unsecured Creditors been formed in the case. The Creditors Committee retained Milbank, Tweed, Hadley & McCloy LLP as counsel. The committee members are: (1) Transpecto Transport Co.; (2) Wilmington Trust Company; and (3) Ronald Jay Lichtman. The U.S. Trustee originally appointed Ares Special Situations Fund IV, L.P. C/O Ares Management LLC; BPC UKI LP c/o Beach Point Capital Management; and Wexford Spectrum Investors, LLC, as members of the Creditors' Committee. The U.S. Trustee then also appointed Transpecto Transport Co. and Wilmington Trust Company as Committee members. A Statutory Committee of Equity Security Holders was also formed in the case. The Equity Committee is currently composed of seven individual holders. The Equity Committee retained Proskauer Rose LLP as counsel. BRIAN G. MEEHAN: Case Summary & 12 Unsecured Creditors ------------------------------------------------------ Debtor: Brian G. Meehan, M.D., P.C. 202 Spring Street, 2nd Floor New York, NY 10012 Business Description: Brian G. Meehan, M.D., P.C. is a privately held company categorized under family practice doctors. Owner Dr. Brian G. Meehan, MD, is an internal medicine specialist in New York. Chapter 11 Petition Date: December 4, 2018 Court: United States Bankruptcy Court Southern District of New York (Manhattan) Case No.: 18-13924 Judge: Hon. Stuart M. Bernstein Debtor's Counsel: Howard P. Magaliff, Esq. RICH MICHAELSON MAGALIFF, LLP 335 Madison Avenue, 9th Floor New York, NY 10017 Tel: 646.453.7851 646.453.7854 Fax: 212.913.9644 Email: hmagaliff@r3mlaw.com Estimated Assets: $500,000 to $1 million Estimated Liabilities: $1 million to $10 million The petition was signed by Brian G. Meehan, president. A full-text copy of the petition containing, among other items, a list of the Debtor's 12 unsecured creditors is available for free at: http://bankrupt.com/misc/nysb18-13924.pdf BRIDAN 770: Seeks March 11 Exclusive Plan Filing Period Extension ----------------------------------------------------------------- Bridan 770, LLC asks the U.S. Bankruptcy Court for the Southern District of Florida for a 90-day extension of its exclusive period to file a reorganization plan to March 11, 2019, to give it more time to negotiate, and perhaps mediate with creditors, and file a consensual plan. The Debtor also seeks an additional 90 days after that -- to May 10, 2019 -- to solicit acceptances to the Plan. The Debtor represents that (a) exclusivity currently expires on December 10, 2018, if not extended by motion filed prior to that date; (b) the Debtor continues to make monthly adequate protection payments; (c) negotiations have continued with Bayview Loan Servicing, and mediation has been ordered and is being set; and (d) delay has been occasioned by the Bank's appraisal of the property. About Bridan 770 Bridan 770, LLC, filed a Chapter 11 bankruptcy petition (Bankr. S.D. Fla. Case No. 17-20940) on Aug. 29, 2017, estimating $100,000 to $500,000 in both assets and liabilities. The petition was signed by its authorized representative, Laurent Benzaquen of AMBR JJLB Property Management LLC. Bridan 770, LLC, and debtor-affiliate JXB 84 LLC, tapped Joel M. Aresty, Esq., P.A., as counsel. An official committee of unsecured creditors has not been appointed in the Chapter 11 case. BRIGHT MOUNTAIN: Sells $760,000 Worth of Units to 21 Investors -------------------------------------------------------------- Bright Mountain Media, Inc., has sold 1,900,000 units of its securities to 21 accredited investors in a private placement exempt from registration under the Securities Act of 1933, as amended, in reliance on exemptions provided by Section 4(a)(2) and Rule 506(b) of Regulation D. The Units were sold on Nov. 30, 2018 at a purchase price of $0.40 per Unit resulting in gross proceeds to the Company of $760,000. Each unit consisted of one share of the Company's common stock and one five year common stock purchase warrant to purchase one share of its common stock at an exercise price of $0.65 per share. Bright Mountain paid Spartan Capital Securities, LLC, a broker-dealer and member of FINRA, a cash commission of $76,000 and issued it five year placement agent warrants to purchase an aggregate of 190,000 shares of its common stock as compensation for its services. The Company used $160,000 of the proceeds from this closing for the payment of the fees due Spartan Capital under the terms of the Consulting Agreement and are using the balance for general working capital. Spartan Capital acted as placement agent for the Company in this private placement and this latest closing represented the closing of the over-allotment portion of the offering which commenced in January 2018 pursuant to which the Company issued and sold an aggregate of 12,000,000 Units resulting in gross proceeds to the Company of $4,800,000. During the course of this offering, the Company paid Spartan Capital an aggregate cash commission of $480,000 and issued it Placement Agents Warrants to purchase an aggregate of 1,200,000 shares of its common stock, including the cash commission and Placement Agent Warrants issued pursuant to the over-allotment closing on Nov. 30, 2018. Of the $4,320,000 in proceeds the Company received after payment of the commissions to Spartan Capital, it used an additional $1,160,000 for the payment of consulting and advisory fees to Spartan Capital, including the $160,000 paid in the most recent closing, with the balance of $3,160,000 being used by the Company for working capital. About Bright Mountain Based in Boca Raton, Fla., Bright Mountain Media, Inc. -- http://www.brightmountainmedia.com/-- is a digital media holding company whose primary focus is connecting brands with consumers as a full advertising services platform. Bright Mountain Media's assets include an ad network, an ad exchange platform and 25 websites (owned and/or managed) that provide content, services and products. The websites are primarily geared for a young, male audience with several that focus on active, reserve and retired military audiences as well as law enforcement and first responders. Bright Mountain reported a net loss attributable to common shareholders of $3.01 million for the year ended Dec. 31, 2017, compared to a net loss attributable to common shareholders of $2.94 million for the year ended Dec. 31, 2016. As of Sept. 30, 2018, Bright Mountain had $5.03 million in total assets, $2.71 million in total liabilities, and $2.31 million in total shareholders' equity. The report from the Company's independent accounting firm Liggett & Webb, P.A., in Boynton Beach, Florida, on the consolidated financial statements for the year ended Dec. 31, 2017, includes an explanatory paragraph stating that the Company sustained a net loss of $2.99 million and used cash in operating activities of $1.73 million for the year ended Dec. 31, 2017. The Company had an accumulated deficit of $11.82 million at Dec. 31, 2017. These factors raise substantial doubt about the Company's ability to continue as a going concern. CABLEVISION SYSTEMS: Moody's Confirms B1 CFR, Outlook Stable ------------------------------------------------------------ Moody's Investors Service has confirmed Cablevision Systems Corporation's B1 Corporate Family Rating, from B1 under review and B1-PD Probability of Default Rating, from B1-PD under review. Moody's confirmed also the Company's instrument ratings including the Ba2 senior secured bank credit facility, Ba2 senior unsecured guaranteed notes, and B2 senior unsecured notes, held at CSC Holdings, LLC and the B3 senior unsecured notes at Cablevision Systems Corporation -- all of which were under review for upgrade. Moody's also assigned a Ba2 rating to the new senior unsecured guaranteed notes (including the 5.375%, $1.1 billion notes due 2023, and 5.5%, $1.5 billion notes due 2026) and a B2 to the new senior unsecured notes (including the 5.125% $1.25 billion notes due 2021, the 7.5%, $1.05 billion notes due 2028, and the 7.75%, $620 million notes due 2025) -- at CSC Holdings, LLC. Moody's previously assigned a Ba2 rating to the new senior secured credit facility (including the $1.275 billion senior secured term loan due 2026) at CSC Holdings, LLC. The Speculative Grade Liquidity was changed to SGL-1, from SGL-2. The Outlook on Cablevision is Stable. The rating action concludes the review for upgrade initiated on 2 October 2018. All ratings at Cequel Communications Holdings I, LLC and Altice US Finance I Corporation will be withdrawn, including its B2 corporate family rating, B2-PD probability of default rating, Ba3 senior secured bank credit facility, Ba3 senior secured notes, Caa1 senior unsecured notes, and the outlook (currently rating under review). Upgrades: Issuer: Cablevision Systems Corporation Speculative Grade Liquidity Rating, Upgraded to SGL-1 from SGL-2 Assignments: Issuer: CSC Holdings, LLC Senior Unsecured Regular Bond/Debenture, Assigned B2 (LGD5) Gtd Senior Unsecured Regular Bond/Debenture, Assigned Ba2 (LGD2) Outlook Actions: Issuer: Cablevision Systems Corporation Outlook, Changed To Stable From Rating Under Review Issuer: CSC Holdings, LLC Outlook, Changed To Stable From Rating Under Review Confirmations: Issuer: Cablevision Systems Corporation Probability of Default Rating, Confirmed at B1-PD Corporate Family Rating, Confirmed at B1 Senior Unsecured Regular Bond/Debenture, Confirmed at B3 (LGD6) Issuer: CSC Holdings, LLC Senior Secured Bank Credit Facility, Confirmed at Ba2 (LGD2) Gtd Senior Unsecured Regular Bond/Debenture, Confirmed at Ba2 (LGD2) Senior Unsecured Regular Bond/Debenture, Confirmed at B2 (LGD5) Issuer: Neptune Finco Corp. Senior Secured Bank Credit Facility, Confirmed at Ba2 (LGD2) Senior Unsecured Regular Bond/Debenture, Confirmed at B2 (LGD5) Gtd Senior Unsecured Regular Bond/Debenture, Confirmed at Ba2 (LGD2) This action follows Altice USA's merger of the Suddenlink business into Optimum, creating a single credit silo. In connection with the transaction, the previously outstanding $5.5 billion in Cequel senior secured and senior unsecured notes were exchanged into $5.5 billion in new senior guaranteed and senior notes of CSC Holdings, LLC. A new credit facility at CSC Holdings, LLC was also issued to refinance Cequel's existing credit facility. The new debt issued at CSC Holdings, LLC has the same interest rates and maturities, and is subject to the same terms and conditions, except for the new credit facility which was issued at market interest rates and the secured notes which lost a perfected interest in the assets of subsidiaries but gained guarantees from the operating subsidiaries. The post-closing organizational structure, under Altice USA, Inc., includes wholly owned Cablevision Systems Corporation, which wholly owns Cablevision Systems Corporation Holdings, LLC, which wholly owns the Cequel and Cablevision operating subsidiaries. The new notes at CSC Holdings, LLC has claims, on an unsecured basis, on all assets at these operating subsidiaries. The new CSC notes due 2023 and 2026 will be guaranteed unconditionally and will be irrevocable. RATINGS RATIONALE Cablevision Systems Corporation's B1 Corporate Family Rating is supported by its large size and somewhat diversified footprint which includes 8.7 million homes passed and 9.9 million subscribers, that generates over $10 billion in revenue -- scale more similar to investment grade companies. The Company is an established operator with a very strong market position in some very large markets, especially in its Optimum footprint which has very favorable demographics. This strength is reflected in very high, industry leading operating metrics including investment-grade like Revenue Per Homes passed (currently $1,088), and a Triple Play Equivalent ratio at 38%. The Company has an upgraded network that produces superior network speeds (up to 1 gbs) that helps compete with in-market peers and to attract and retain residential and commercial customers, particularly broadband. With revenue growth over 10% and high margins, broadband generates significant earnings and cash flows, which will helps to offset weakness in video and telephony. It also supports the generation of approximately $1.5 billion in annual free cash flow on EBITDA margins near 44%. Moody's expects this strength to continue, supported by its current investments in Fiber-to-The-Home network architecture. The Company also has very good liquidity, with strong operating cash flow, a largely undrawn revolver, substantial covenant cushion, and a manageable maturity profile. The rating is constrained by an aggressive financial policy that tolerates high leverage, that was approximately 5.4x (Moody's adjusted) at the end of the last quarter ended September. While management has publically stated it has a target leverage ratio between 4.5x-5.0x (reported, net of cash and collateralized obligations), management has shown a tolerance for much higher leverage (peaking above 7x) and has capacity (within the terms of its covenants) to take leverage up to as high as 9x. In addition, Moody's expects management to repurchase stock of at least $1.5 billion, possibly up to $2 billion, annually (but no more than free cash flow) pursuant to its recently announced share repurchase program. Moody's also believes the Company's largest shareholder, which has voting control and common ownership with Altice Luxembourg S.A. (B1 Negative), is a risk factor that is likely to constrain Cablevision's rating, especially when there is weakness in the European operation of Luxembourg and an ability to extract cash from the US operations through dividends or other transactions to support that business. With that said, Moody's believes there are currently better options to fund weakness in Europe and understand management has said the separation from the European operations clarifies the prioritization of capital allocation between the two companies and ensures that the US capital structure and capital allocation decisions are independent of any Europe-related considerations. Additionally, Cablevision's video business is under a lot of pressure with high programming costs being passed on to customers, and over the top video streaming competitors drawing market share. This is evidenced by falling subscriber counts (up to -3%) and declining penetration by -1% to -2% annually driving down the Company's Triple Play Equivalent ratio. The Company also faces new wireless broadband threats, as carriers are expected to begin launching 5G technology into Cablevision's markets over the next 12-18 months. While promising, it's uncertain to what extent the Company's agreement with Sprint to create a mobile virtual network will help retain customers. OUTLOOK The Stable outlook reflects its expectation that the Company will generate nearly $10 billion in revenues over the next 12-18 months, producing up to $4.4 billion in EBITDA on margins near 44%. Moody's expects free cash flows to be at least $1.5 billion, after capital expenditures of up to $1.3 billion (about 13% of revenue). Moody's projects leverage (total debt/EBITDA) to fall near 5x (with debt declining to approximately $22.5 billion with mandatory amortization), FCF/debt to rise above 6.5%, and interest coverage (EBITDACAPEX/ interest) to be higher than 2x. Its projections also assume the Company's market share will be approximately 37%, measured using its Triple-Play-Equivalent ratio, and revenue per homes passed will be above $1,100. Key model assumptions include a rise in broadband subscribers of approximately 2%, and video subscribes declining near -3%. Moody's expects the Company to use all available free cash flow to repurchase stock. Its outlook assumes the Company maintains its very good liquidity profile, and there are no material changes (relative to its expectations) in the scale of the Company, the geographic footprint, market position/share, financial policy, capital structure, key performance measures, or the business model. Note: all figures and ratios based on Moody's adjusted estimates FACTORS THAT COULD LEAD TO AN UPGRADE Moody's would consider an upgrade if leverage (Moody's adjusted Debt/EBITDA) was sustained below 5.0x, and free cash flow to debt (Moody's adjusted) was sustained above 5%. A positive rating action would also be contingent on an improvement in the credit profile of Altice Luxembourg S.A. that mitigates the risk of relying on Cablevision. Moody's would also consider an upgrade if the Company maintains very good liquidity, increases its scale, adopts more conservative financial policies, there is a low probability of near-term event risks and or there are material favorable developments in regulation, market position, capital structure, business model or key performance measures that, when taken together with all other factors, the credit profile suggests a better rating category. FACTORS THAT COULD LEAD TO A DOWNGRADE Moody's would consider a downgrade if leverage (Moody's adjusted Debt/EBITDA) is sustained above 6.25x (Moody's adjusted), or free cash flow to debt (Moody's adjusted) is sustained below 3%. A negative rating action would also be considered if there was a material deterioration in the credit quality of Altice Luxembourg S.A. and or Moody's believed the common owner planned to use the liquidity of Cablevision to support the Luxembourg credit. Moody's also would consider a downgrade if liquidity deteriorated, more aggressive financial policies were adopted, or Moody's anticipated the possibility of a material and adverse change in regulation, market position, capital structure, key performance measures, or the operating model such that, when taken together with all other factors, the credit profile suggests a lower rating category. Headquartered in Long Island City, New York, Cablevision Systems Corporation passes 8.7 million homes in 21 states, serving approximately 4.9 million residential and business customers, with revenues generated by about 9.9 million subscribers. The Company is wholly owned by Altice USA, a public company controlled by Patrick Drahi, and is also the direct parent of CSC Holdings, LLC. Revenue for LTM September 30, 2018 was approximately $9.5 billion. The principal methodology used in these ratings was Global Pay Television - Cable and Direct-to-Home Satellite Operators published in January 2017. CARESTREAM HEALTH: Moody's Revises Outlook on B3 CFR to Negative ---------------------------------------------------------------- Moody's Investors Service revised Carestream Health, Inc.'s rating outlook to negative from stable. Moody's affirmed all other ratings of the company including the B3 Corporate Family Rating, B3-PD Probability of Default Rating, B1 first lien secured rating and Caa1 second lien secured rating. The revision in rating outlook to negative reflects rising refinancing risk given significant near-term debt maturities. The company's first lien credit facilities come due in June 2019 and the second lien credit facility comes due in December 2019. The negative outlook also considers that the company will need to execute a refinancing at a time when rising trade tariffs are negatively impacting its cost structure. While the company is implementing significant cost restructuring, there is risk that these efforts do not fully mitigate the impact of the tariffs. Further, if rising fundamental business pressures result in meaningfully higher interest costs with a refinancing transaction, cash flow and interest coverage metrics would weaken. The affirmation of the company's ratings reflects Moody's expectations that the company will make tangible progress in the near term with a refinancing transaction. The company has moderate leverage levels with debt/EBITDA for the LTM period in the low five times range. Further, Carestream generates positive free cash flow (excluding unusual items). The affirmation reflects Moody's expectation that the company can achieve meaningful cost savings through its restructuring program, though there is a high degree of execution risk. Moody's notes that ratings on individual debt instruments could change depending on the final terms and conditions of any refinancing. The following ratings were affirmed: Affirmations: Issuer: Carestream Health, Inc. Probability of Default Rating, Affirmed B3-PD Corporate Family Rating (Local Currency), Affirmed B3 Senior Secured 1st Lien Bank Credit Facility, Affirmed B1 (LGD3 from LGD2) Senior Secured 2nd Lien Bank Credit Facility, Affirmed Caa1 (LGD5) Outlook Actions: Issuer: Carestream Health, Inc. Outlook, Changed To Negative From Stable RATINGS RATIONALE Carestream's B3 Corporate Family Rating reflects the company's significant reliance on its film business, which comprises the majority of earnings. Moody's expects that the medical film business will remain in structural decline for the foreseeable future. The company benefits from a credible position in medical digital products, where Moody's expects that modest revenue growth will continue. Carestream's ratings reflect its moderately high financial leverage with debt/EBITDA near five times. Leverage will remain moderately high, as Moody's expects cost savings will be offset, at least in the near term, by the rising cost of tariffs on imports of the company's products in the US and China. The company has significant exposure to China in its film business. The company's cost savings initiatives, which are quite extensive, involve a high degree of execution risk. Ratings could be upgraded if the company successfully executes its cost reduction plans, which would be evidenced by sustained improvements in operating margins, despite headwinds from potential increases in tariffs. In addition, operating earnings in the film business would need to remain stable. Quantitatively, ratings could be upgraded if debt/EBITDA is expected to be sustained below five times while maintaining good liquidity. Ratings could be downgraded if sales declines in its film business accelerate, or if the company does not make any further progress refinancing its debt maturities. Ratings could be downgraded if there are further increases in tariffs or other negative trade actions, or if cost cutting actions fail to mitigate the impact of tariffs. Quantitatively, ratings could be downgraded if EBITA/interest is expected to approach one time. The principal methodology used in these ratings was Medical Product and Device Industry published in June 2017. Headquartered in Rochester, NY, Carestream Health is a global provider of medical imaging products. The company's film business provides specialized paper to produce images from digital X-rays, printers, non-destructive testing, dental film, X-ray film, and contract manufacturing. The company's medical digital business provides digital medical imaging systems and healthcare information solutions used to create digital workflow in hospitals and clinics. The company's revenues are approximately $1.6 billion. Carestream is owned by affiliates of Onex Corporation. CELADON GROUP: Extends Credit Agreement Maturity Until June 2019 ---------------------------------------------------------------- Celadon Group, Inc., disclosed in a Form 8-K filed with the Securities and Exchange Commission that it has entered into a Twelfth Amendment to its existing credit agreement. The principal purpose of the amendment is to provide additional time for the Company to document and close currently ongoing efforts to refinance the existing credit agreement and reduce total debt obligations. Among other changes, the Amendment: * Extends the maturity date to June 28, 2019; * Raises the Maximum Borrowing Amount to approximately $203.2 million and the Maximum Outstanding Amount (which includes borrowings and letters of credit) to approximately $238.2 million, which amounts are automatically reduced by approximately $60 million on Jan. 31, 2019, approximately $50 million on Feb. 28, 2019, and approximately $35 million on March 31, 2019; * Reduces the aggregate lending commitments of the lenders to match the initial Maximum Outstanding Amount, with corresponding reductions in the amounts and on the dates set forth above; * Increases the interest rate for letters of credit to 8.0%; * Resets financial covenant levels to reflect the Company's projections plus customary cushion; and * Provides an amendment fee equal to approximately $9.5 million, of which 100% would be forgiven if a full repayment occurs on or before Jan. 31, 2019, 87.5% would be forgiven if a full repayment occurs on or before Feb. 28, 2019, and 75% of which would be forgiven if a full repayment occurs on or before March 29, 2018. The full-text of the Amendment is available at no charge at: https://is.gd/NutK3J About Celadon Celadon Group, Inc. -- http://www.celadongroup.com/-- provides long haul, regional, local, dedicated, intermodal, temperature-protect, and expedited freight service across the United States, Canada, and Mexico. The Company also owns Celadon Logistics Services, which provides freight brokerage services, freight management, as well as supply chain management solutions, including logistics, warehousing, and distribution. The Company is headquartered in Indianapolis, Indiana. In a press release dated April 2, 2018, Celadon stated that based on issues identified in connection with the Audit Committee investigation and management's review, financial statements for fiscal years ended June 30, 2014, 2015, 2016, and the quarters ended Sept. 30 and Dec. 31, 2016, will be restated. Celadon's new senior management team, led by the Company's new chief financial officer and new chief accounting officer, commenced a review of the Company's current and historical accounting policies and procedures. The internal investigation and management review have identified errors that will require adjustments to the previously issued 2014, 2015, 2016, and 2017 financial statements. On March 30, 2018, the Company entered into an Eighth Amendment to its Amended and Restated Credit Agreement. The Amendment extended the existing financial covenant relief through April 30, 2018, with the principal purpose of permitting the Company and the revolving lenders to evaluate the recently received refinancing proposal. On April 18, 2018, Peter Elkins, lead analyst at the New York Stock Exchange LLC, filed a Form 25 with the Securities and Exchange Commission notifying the removal from listing or registration of Celadon's common stock on the Exchange. CELLECTAR BIOSCIENCES: Starts Cohort 6 Trial Evaluating CLR 131 --------------------------------------------------------------- Cellectar Biosciences has initiated Cohort 6 of its ongoing Phase 1b trial evaluating CLR 131 for the treatment of relapsed/refractory (R/R) multiple myeloma (MM). Cohort 6 will evaluate up to four patients with each receiving two doses of 18.75 mCi/m2 of CLR 131 administered one week apart. This fractionated dosing regimen will result in each patient being treated with a total of approximately 75.0 mCi of CLR 131, representing an increase in average total exposure of greater than 15% over Cohort 5. Cohort 5 also used a fractionated dosing regimen and results showed an ability to administer higher average drug exposure compared with previous cohorts that used bolus dosing. The results seen in Cohort 5 suggest the potential of fractionated dosing to reduce adverse events while improving efficacy. The independent Data Monitoring Committee (DMC) determined the Cohort 5 dose to be safe and well tolerated, and the DMC recommended advancement to the higher dose being used in Cohort 6. "Cohort 6 builds upon the fractionated dosing we successfully employed with Cohort 5, and we look forward to the results from utilizing a higher drug concentration in this two-dose fractionated approach," said James Caruso, president and chief executive officer of Cellectar Biosciences. "Importantly," Caruso continued, "while cohort 5 showed fewer adverse events than cohort 4, total radiation exposure was greater." Cohort 5 Results Results from Cohort 5 indicated enhanced tolerability and safety compared with Cohort 4 despite an 18% increase in total average dose, from 55.29 mCi in Cohort 4 to 65.15 mCi in Cohort 5. Patients in Cohort 5 required less supportive care such as transfusions of platelets or packed red blood cells than seen in previous cohorts. In addition to the improved safety profile demonstrated in Cohort 5, the company also monitored signals of efficacy. Despite Cohort 5 patients averaging five lines of prior systemic therapies, all patients experienced clinical benefit with two patients achieving minimal responses and two achieving stable disease. Furthermore, looking at surrogate markers, patients in Cohort 5 monitored by M-protein showed a nearly 50% further reduction in M-protein than seen in Cohort 4. Based on these results and the DMC recommendation, Cellectar plans to modify the single-dose regimen of its ongoing Phase 2 trial of R/R hematologic malignancies to fractionated dosing. CLR 131 is Cellectar's investigational radioiodinated phospholipid ether-drug conjugate therapy that exploits the tumor-targeting properties of the company's proprietary phospholipid ether (PLE) and PLE analogs to selectively deliver radiation to malignant tumor cells, thus minimizing radiation exposure to normal tissues. CLR 131 is in a Phase 2 clinical study in relapsed/refractory multiple myeloma (R/R MM) and a range of B-cell malignancies, and a Phase 1b clinical study in patients with R/R MM exploring fractionated dosing. About Cellectar Biosciences Cellectar Biosciences -- http://www.cellectar.com/-- is focused on the discovery, development and commercialization of drugs for the treatment of cancer. The Company plans to develop proprietary drugs independently and through research and development collaborations. The core drug development strategy is to leverage its PDC platform to develop therapeutics that specifically target treatment to cancer cells. Through R&D collaborations, the Company's strategy is to generate near-term capital, supplement internal resources, gain access to novel molecules or payloads, accelerate product candidate development and broaden its proprietary and partnered product pipelines. The report from the Company's independent accounting firm Baker Tilly Virchow Krause, LLP, in Madison, Wisconsin, 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 a net capital deficiency that raise substantial doubt about its ability to continue as a going concern. Cellectar reported a net loss attributable to common stockholders of $15.01 million for the year ended Dec. 31, 2017, following a net loss attributable to common stockholders of $9.36 million for the year ended Dec. 31, 2016. As of Sept. 30, 2018, the Company had $19.54 million in total assets, $2.66 million in total liabilities and $16.88 million in total stockholders' equity. CHAMP ACQUISITION: Moody's Assigns B2 CFR, Outlook Stable --------------------------------------------------------- Moody's Investors Service assigned a B2 Corporate Family Rating and a B2-PD Probability of Default Rating to Champ Acquisition Corporation, the parent company of Jostens, Inc. Moody's also assigned a Ba2 (LGD1) rating to the company's proposed $150 million super priority revolving credit facility. In addition, Moody's assigned a B2 (LGD3) to Champ Acquisition's first lien term loan and a Caa1 (LGD5) rating to the company's second lien term loan. While the revolver and the first lien term loan share the same collateral, in a bankruptcy liquidation borrowings under the revolver would be paid first, and hence the facility has a higher rating. The first lien term loan is subordinated in right of payment to borrowings under the revolver and would be paid after the revolver loans are paid. The second lien term loan is subordinated in right of payment to both the revolver and the first lien term loan and would be paid after both the revolver loans and the first lien term loan are paid. Proceeds from the term loans, as well as common equity from Platinum Equity will be used to finance the acquisition of Jostens from Newell Brands and pay transaction fees and expenses. The rating outlook is stable. Ratings assigned: Champ Acquisition Corporation: Corporate Family Rating at B2 Probability of Default at B2-PD $150 million guaranteed senior secured super priority revolving credit facility expiring 2023 at Ba2 (LGD1) $750 million guaranteed senior secured first lien term loan due 2025 at B2 (LGD3) $150 million guaranteed senior secured second lien term loan due 2026 at Caa1 (LGD5) The rating outlook is stable. RATINGS RATIONALE Champ Acquisition Corporation's (doing business as Jostens) B2 CFR reflects the company's high pro-forma financial leverage at about 5.1 times debt/EBITDA upon completion of its proposed leveraged buyout by Platinum Equity. The ratings also reflect the company's narrow product focus as a manufacturer and seller of school-related affinity products in U.S. high schools and universities. This largely includes yearbooks, school rings, graduation gowns, and related products. While the growing threat of online competition can't be minimized, this risk is partially mitigated by the personalized nature of its sales and customer service, and the long standing relationships of the company's large network of independent sales representatives with individual schools and colleges. The average tenor of these relationships is about 13 years. Moody's recognizes the slow decline in the demand for school-related affinity products. However new product introductions and cost saving initiatives will help support Jostens' revenues and earnings over time. The demand for some of Jostens' products, such as school rings, are more sensitive to economic downturns given the discretionary nature of the purchase. The ratings are supported by Jostens' leading market position in the niche school affinity product industry and its long operating history. The company's sales representatives enjoy over 90% retention rates with school representatives, which creates a high barrier to entry. The stable outlook reflects Jostens' relatively high financial leverage. While leverage will remain high over the next year, Moody's believes that debt to EBITDA will improve over time through modest earnings growth and debt repayment. The ratings could be downgraded if Jostens' operating performance deteriorates, or if the company engages in debt funded acquisitions or shareholder distributions. Ratings could also be downgraded if debt/EBITDA is sustained above 5.5 times, or if liquidity deteriorates. The ratings could be upgraded if the company achieves greater scale, maintains steady organic growth and increases product diversity. The ratings could also be upgraded if debt to EBITDA is sustained below 4.0x. The principal methodology used in these ratings was Consumer Durables Industry published in April 2017. Headquartered in Minneapolis, MN, Jostens is a manufacturer and seller of yearbooks, publications, jewelry, and other scholastic products that serve the K--12 educational, college, and professional sports segments. The company generates about $778 million in revenue and will be owned by private equity firm Platinum Equity. CLA PROPERTIES: Seeks Feb. 19 Exclusive Filing Period Extension --------------------------------------------------------------- CLA Properties SPE, LLC, and its debtor-affiliates request the U.S. Bankruptcy Court for the District of Arizona to extend the time during which the Debtors have the exclusive right to file a plan to Feb. 19, 2019. Since the Petition Date, the Debtors' main focus has been on the leases for its various locations to ensure continued operations at all sites. In so doing, the Debtors have conquered a significant hurdle to reorganization in reaching an agreement with ECE I, LLC, the landlord and/or property owner of all of the 2017 Debtors' locations. Further, the Debtors have reached an agreement with Spirit SPE Portfolio 2012-5, LLC, the landlord for Children's Learning Adventure of Nevada, LLC, CLA Fall Creek, LLC, and CLA Woodlands, LLC and obtained an order extending the time within which to assume or reject the Debtors' lease with Jinbo, LLC to Oct. 5, 2018. The Debtors have now reached an agreement with Jinbo. The Debtors have obtained consensual short-term lease extensions from each of their landlords and are in continuing negotiations with the landlords for new or restructured lease obligations that will permit them to propose a plan of reorganization to address all creditors and parties-in-interest. Thus, having utilized most of the Exclusivity Period to negotiate and reach agreements with their landlords, the Debtors have not had sufficient time to prepare the analysis of their operations and restructuring alternative, and the other documents, such as projections and a liquidation analysis, that are necessary to propose a plan of reorganization and disclosure statement. They are continuing to negotiate long term solutions with their creditors. This is the third time the Debtors have sought extension to the Exclusivity Period. The Debtors claim that they are not using the extension process as a way to obtain leverage against their creditors and are not seeking to extend the Exclusivity Periods to pressure any creditors into accepting a plan of reorganization. The Debtors are still in the process of determining the specifics of the Plan and additional time is needed to allow for an informed dialogue about and analysis of the their future economic prospects. The Debtors operate as part of a very successful consolidated business, with revenues over $100,000,000 and the Debtors believe that there is reason to believe that they will not only prosper, but ultimately confirm a viable plan of reorganization. About CLA Properties SPE CLA Properties SPE, based in Scottsdale, Arizona, and its debtor-affiliates sought Chapter 11 protection (Bankr. D. Ariz. Lead Case No. 17-14851) on Dec. 18, 2017. The debtor-affiliates are CLA Maple Grove, LLC; CLA Carmel, LLC; CLA West Chester, LLC; CLA One Loudoun, LLC; CLA Fishers, LLC; CLA Chanhassen, LLC; CLA Ellisville, LLC; CLA Farm, LLC; and CLA Westerville, LLC. The cases are jointly administered before the Hon. Brenda Moody Whinery. In the petition signed by Richard Sodja, its authorized representative, CLA estimated $1 million to $10 million in assets and liabilities. The Debtors tapped Michael W. Carmel, Esq., at Michael W. Carmel, Ltd., as bankruptcy counsel; Schian Walker, PLC, as co-counsel; and Cockriel & Christofferson, LLC, as special counsel. CMS FLORAL GALLERY: Exclusivity Period Extended Until Jan. 28 ------------------------------------------------------------- The Hon. Gregory L. Taddonio of the U.S. Bankruptcy Court for the Western District of Pennsylvania, at the behest of debtor CMS Floral Gallery, Inc., has extended (a) the deadline for the Debtor to file a Chapter 11 Plan and Disclosure Statement to Jan. 28, 2019 and (b) the Debtor's exclusivity to file a Chapter 11 Plan and Disclosure Statement until January 28, 2019. About CMS Floral Gallery CMS Floral Gallery, Inc., filed a Chapter 11 bankruptcy petition (Bankr. W.D. Pa. Case No. 18-21711) on April 30, 2018. In the petition signed by Christine A. Dymkoski, president, the Debtor estimated under $500,000 in assets and liabilities. The Debtor hired Christopher M. Frye, Esq., at Steidl and Steinberg, P.C., as counsel. No official committee of unsecured creditors has been appointed in the Chapter 11 case. CONSIS INTERNATIONAL: U.S. Trustee Unable to Appoint Committee -------------------------------------------------------------- No official committee of unsecured creditors has been appointed in the Chapter 11 case of Consis International LLC as of Nov. 14, according to a court docket. About Consis International Consis International LLC -- https://www.consisint.com/ -- provides computer systems design and related services. It was founded in August 1987 in Caracas, Venezuela. Consis International sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 18-22233) on Oct. 2, 2018. In the petition signed by Oscar Carrera, manager, the Debtor estimated assets of less than $1 million and liabilities of $1 million to $10 million. Judge John K. Olson presides over the case. Weiss Serota Helfman Cole & Bierman, P.L., is the Debtor's legal counsel. CURAE HEALTH: $15M Gilmore Hospital Sale to North Mississippi OK'd ------------------------------------------------------------------ Judge Charles W. Walker of the U.S. Bankruptcy Court for the Middle District of Tennessee, Nashville Division, authorized Curae Health, Inc. and its debtor-affiliates to sell Amory Regional Medical Center, Inc.'s Gilmore Medical Center to North Mississippi Health Services or its designee for $15 million, subject to adjustments. No competing bids were submitted for the Gilmore Medical Center and thus no Auction was conducted. The sale is free and clear of any Liens, with such Liens to attach to the net proceeds of the sale of the Proposed Purchased Assets. Time being of the essence, the Buyer directed to use its best efforts to close the sale of the Proposed Purchased Assets in accordance with the terms of the Gilmore APA and the Order as soon as reasonably practicable. The authority granted to the Debtors to close the sale of the Proposed Purchased Assets pursuant to and in accordance with the Gilmore APA and the Order will not be stayed if the Order is appealed. There is no just delay for the implementation of the Order and, for all purposes, it will be a final order with respect to the sale of the Proposed Purchased Assets and other relief granted therein. Time is of the essence and, accordingly, the 14-day stays imposed by Rules 6004(h) and 6006(d) of the Bankruptcy Rules are waived with respect to the Order, and the Order will take effect immediately upon its entry. Notwithstanding anything in the Sale Order to the contrary, the Hospital Services Agreement, effective Aug. 1, 2017, between Cigna Health and Life Insurance Co. and Debtor Amory Regional Medical Center, Inc., will not be assumed and assigned pursuant to the Sale Order, and the Objection of Cigna Health and Life Insurance Co. to Notice of the Debtors' Intent to Assume and Assign Certain Executory Contracts, etc. and Cure Amounts Related to the Foregoing, and to Proposed Assumption and Assignment of Cigna Provider Agreements Pursuant to Sale Motion is adjourned. If the Debtors and the Successful Bidder want to assume and assign the Cigna HSA as part of the Sale, the issues raised in the Cigna Objection will be resolved by agreement between Cigna, the Debtors and the Successful Bidder or, if no agreement can be reached, by further order of the Court, provided, however, that the Debtors shall, no later than 21 days prior to Closing of the Sale, provide Cigna with Written notice of its irrevocable decision as to whether or not the Debtors propose to assume and assign the Cigna HSA as part of the Sale. All other Objections are likewise adjourned. No contract at issue in the Objections will be assumed and assigned pursuant to the Sale Order without further agreement and stipulation of the relevant parties or order of the Court. A separate Order will be submitted setting an adjourned hearing for Dec. 18, 2018 at 2:00 p.m. 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: Dec. 14 Auction of Gilmore Hospital Set ----------------------------------------------------- Judge Charles W. Walker of the U.S. Bankruptcy Court for the Middle District of Tennessee, Nashville Division, authorized the bidding procedures of Curae Health, Inc. and its debtor-affiliates in connection with the sale of the Panola Medical Center to Progressive Medical Management of Batesville, LLC or its designee for $2.5 million, subject to overbid. The Panola APA, the Assumption Notice and the Assumption and Assignment Procedures are approved in their entirety. The Section 6.1 of the Panola APA is approved and binding on the Debtors; and the Break-up Fee will be paid to the Proposed Stalking Horse (i) no later than any closing of a sale of some or all of the Proposed Purchased Assets to a purchaser other than the Proposed Stalking Horse or from the recovery of any other Successful Bidder's forfeited deposit (ii) if any secured creditor purchases any or all of the Proposed Purchased Assets by credit bid at the Auction or otherwise, then the secured creditor will pay the Break-up Fee to the Proposed Stalking Horse Purchaser no later than any closing regardless of the amount of proceeds actually paid to the Debtors, and (iii) if Seller files a plan of reorganization that does not contemplate a sale of the Proposed Purchased Assets to the Proposed Stalking Horse. The sale will be free and clear of liens, claims, encumbrances, and other interests. The salient terms of the Bidding Procedures are: a. Bid Deadline: Dec. 11, 2018 at 5:00 p.m. (PCT) b. Initial Bid: The initial overbid will exceed the Baseline Bid by $150,000. Each Bid must clearly set forth the purchase price in U.S. dollars to be paid for each individual Proposed Purchased Asset subject to the applicable asset package, including and identifying separately any cash and non-cash components, and the cash component of such purchase price will be at least $2.6 million. c. Deposit: 10% of the aggregate Purchase Price of the Bid d. Auction: The Auction will take place at 9:00 a.m. (PCT) Dec. 14, 2018, at the offices of Polsinelli PC, in Nashville, Tennessee, or such later date and time as selected by the Debtors. e. Bid Increments: $100,000 f. Sale Hearing: Jan. 11, 2019, at 9:00 a.m. (PCT) g. Objection Deadline: Jan. 2, 2019, at 5:00 p.m. (PsCT) h. Any Qualified Bidder who has a valid, perfected, and undisputed lien on any of the Proposed Purchased Assets and the right and power to credit bid claims secured by such liens, will have the right to credit bid all or a portion of the value of such Secured Creditor's claims. A copy of the Bidding Procedures attached to the Order is available for free at: http://bankrupt.com/misc/Curae_Health_507_Order.pdf The terms and conditions of the Order will be immediately effective and enforceable upon its entry. 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. DATACOM SYSTEMS: Seeks Feb. 25 Exclusivity Period Extension ----------------------------------------------------------- Datacom Systems, Inc., and Datacom Systems Holdings, LLC, ask the U.S. Bankruptcy Court for the Northern District of New York to extend the exclusive periods within which the Debtors may file and solicit acceptances of their chapter 11 plan of reorganization to Feb. 25, 2019 and April 22, 2019, respectively. The Debtors relate that since the Petition Date, they have been actively engaged in the administration of these Chapter 11 Cases, including extensive negotiations with their secured creditors and pursuit of consensual plan of reorganization. Furthermore, the Debtors have been actively negotiating financing arrangements to ensure a successful exit from the instant chapter 11 cases. In addition, the Debtors contend that throughout the Chapter 11 Cases, they have been transparent and have worked cooperatively with other major constituencies to minimize disputes and contested matters whenever possible. They have communicated regularly with Arctaris Income Fund, L.P., the office of the United States Trustee, vendors and individual creditors, which the Debtors believe will facilitate the efficient resolution of these Chapter 11 Cases and result in a consensual plan of reorganization. While the Debtors continue to face a difficult market and are somewhat cash constrained, they continue to manage available cash and have generally been able to pay their postpetition debts in the ordinary course of their business. The Debtors believe that additional liquidity anticipated from negotiation with several putative lenders will further assist the Debtors in satisfying their postpetition obligations. Moreover, the Debtors mention that the proof of claim deadline in these Chapter 11 Cases has not yet passed. Until they have a full an accurate determination of the claims against their estates, the Debtors will not be in a position to accurately evaluate the amount of cash available to satisfy the universe of claims against them and to finalize a chapter 11 plan or prepare a disclosure statement containing adequate information. The Debtors assert that they are requesting the extensions of the Exclusive Periods simply to give themselves sufficient time to continue to pursue a consensual plan of reorganization having the support of all parties in interest and to maximize creditor recoveries, rather than requesting the extensions as a negotiating tactic or as a means of maintaining leverage over any group of creditors whose interests may be harmed by such an extension. About Datacom Systems Datacom Systems, Inc. -- https://new.datacomsystems.com/ -- is a Network TAP (test access point), Network Packet Broker, and Bypass Switch manufacturer that has worked with major telecommunication companies, government agencies and financial institutions. It provides secure In-Line access to its clients' network for security, analysis and monitoring. It is a wholly owned subsidiary of Datacom Systems Holdings, LLC. The company is headquartered in East Syracuse, New York. Datacom Systems and Datacom Systems Holdings sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D.N.Y. Lead Case No. 18-30766) on May 25, 2018. The Debtors' Chapter 11 cases have been consolidated for procedural purposes only and are being jointly administered pursuant to an order of the Court entered on May 30, 2018. In the petition signed by CFO Patrick McKenna, both debtors estimated assets of less than $1 million and liabilities of $1 million to $10 million. Judge Margaret M. Cangilos-Ruiz presides over the cases. CULLEN AND DYKMAN LLP, led by Maureen T. Bass, and Travis Powers, serves as counsel to the Debtors. No official committee of unsecured creditors has been appointed in the Chapter 11 cases. DPW HOLDINGS: Ault & Company, et al, Have 8.35% Stake as of Dec. 3 ------------------------------------------------------------------ In a Schedule 13D/A filed with the Securities and Exchange Commission, Philou Ventures, LLC, Ault & Company, Inc., and Milton C. Ault, III disclosed that they may be deemed to beneficially own, in the aggregate, 6,564,788 shares, or 8.35%, of DPW Holdings, Inc.'s common stock as of Dec. 3, 2018 (based upon the 74,958,172 shares of common stock outstanding as of Nov. 29, 2018). Philou is a limited liability company organized under the laws of the State of Wyoming and Ault & Company is a corporation formed under the laws of the State of Delaware. Mr. Ault is a citizen of the United States. Philou has sole voting power and sole dispositive power with respect to 6,297,288 shares of common stock. Pursuant to Rule 13d-3(a) under the Exchange Act, each of Ault & Company and Mr. Ault (by virtue of their relationships to Philou) may be deemed to indirectly beneficially own the shares of common stock that Philou owns. Each of Ault & Company and Mr. Ault disclaims beneficial ownership of the shares of common stock for all other purposes. Ault & Company has sole voting power and sole dispositive power with respect to 6,530,188 shares of common stock. Pursuant to Rule 13d-3(a) under the Exchange Act, Mr. Ault (by virtue of his relationship to Ault & Company) may be deemed to indirectly beneficially own the shares of common stock that Ault & Company owns. Mr. Ault disclaims beneficial ownership of the shares of common stock for all other purposes. Accordingly, Mr. Ault, as the chief executive officer of Ault & Company which in turn is the manager of Philou, may in such capacity be deemed to hold sole voting and dispositive power over 6,564,788 shares of the Issuer's common stock beneficially owned by the Reporting Persons. Ault & Company has acquired the Shares for investment purposes. The Reporting Persons intend to review and evaluate their investments in the Issuer's shares of common stock, Series B Preferred Stock and warrants on an ongoing basis and may, depending upon their evaluation of the business and prospects of the Issuer, or such other considerations as they may deem relevant, determine to increase, decrease, or dispose of their holdings of the shares of common stock of the Issuer, Series B Preferred Stock, warrants and underlying common stock, engage in hedging transactions, evaluate a potential acquisition of the Issuer or of assets of the Issuer. The Reporting Persons may, subject to applicable law and the terms of any confidentiality agreement with the Issuer, continue to engage in communications regarding those matters with members of management and the Board of Directors of the Issuer, and initiate such communications with other current or prospective shareholders, industry analysts, existing or potential strategic partners or competitors, investment and financing professionals, sources of credit and other investors. Those factors and discussions may materially affect, and result in, the Reporting Persons, subject to applicable law, modifying their ownership of securities of the Issuer, exchanging information with the Issuer, proposing changes in the Issuer's operations, governance or capitalization. The Reporting Persons will have the right to designate a number of directors to the Issuer's Board of Directors equal to a percentage determined by the number of shares of the Series B Preferred Stock (determined on an "as converted" basis) divided by the sum of the number of shares of common stock outstanding plus the number of Preferred Shares outstanding as determined on an as converted basis. A full-text copy of the regulatory filing is available at no charge at https://is.gd/08Ffn0 About DPW Holdings DPW Holdings, Inc., formerly known as Digital Power Corp. -- http://www.DPWHoldings.com/-- is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies that hold global potential. Through its wholly owned subsidiaries and strategic investments, the company provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, telecommunications, medical, crypto-mining, and textiles. In addition, the company owns a select portfolio of commercial hospitality properties and extends credit to select entrepreneurial businesses through a licensed lending subsidiary. DPW Holdings, Inc.'s headquarters is located at 201 Shipyard Way, Suite E, Newport Beach, CA 92663. DPW Holdings incurred a net loss of $10.89 million in 2017 following a net loss of $1.12 million in 2016. As of Sept. 30, 2018, the Company had $53.10 million in total assets, $25 million in total liabilities, and $28.09 million in total stockholders' equity. The report from the Company's independent accounting firm Marcum LLP, in New York, on the consolidated financial statements for the year ended Dec. 31, 2017, includes an explanatory paragraph stating that the Company has a significant working capital deficiency, has incurred significant losses and needs to raise additional funds to meet its obligations and sustain its operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. EAST END BUS SERVICE: U.S. Trustee Unable to Appoint Committee -------------------------------------------------------------- No official committee of unsecured creditors has been appointed in the Chapter 11 case of East End Bus Service LLC as of Nov. 8, according to a court docket. About East End Bus Service LLC East End Bus Service LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. N.Y. Case No. 18-76717) on October 5, 2018. At the time of the filing, the Debtor had estimated assets of less than $50,000 and liabilities of less than $500,000. The case has been assigned to Judge Louis A. Scarcella. F & F SPECIALTY: Exclusivity Periods Extended for 150 Days ---------------------------------------------------------- The Hon. Gregory L. Taddonio of the Western District of Pennsylvania has extended F & F Specialty Coffee's exclusive filing period and exclusive solicitation period for an additional 150 days. As reported by the Troubled Company Reporter on Nov. 7, 2018, the Debtor sought extension of the Exclusivity Periods in order to provide it with ample time to finalize its negotiations with its creditors as well as potential purchasers of business assets. The Debtor also needed additional time to resolve several outstanding issues. The Debtor averred that the negotiations are both complex and time consuming, and requires additional time to finalize them. The Debtor said that successful completion of the negotiations should result in a mutual benefit to both the Debtor and its creditors for it will be controlling the formulation of Debtor's plan in this case. About F & F Specialty Coffee F & F Specialty Coffee, which conducts business under the name Fortunes Gourmet Coffee, is a specialty food store offering a selection of crafted blends and artisan roasted coffees. It has been providing coffee to its wholesale customers for over 60 years. F & F Specialty Coffee sought protection under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Pa. Case No. 18-22699) on July 2, 2018. In the petition signed by Fred M. Smallhover, II, owner, the Debtor estimated assets of $1 million to $10 million and liabilities of $1 million to $10 million. Judge Gregory L. Taddonio presides over the case. The Debtor tapped Thompson Law Group, P.C., as its legal counsel. FLY LOW: U.S. Trustee Unable to Appoint Committee ------------------------------------------------- No official committee of unsecured creditors has been appointed in the Chapter 11 case of Fly Low, Inc. as of Nov. 8, according to a court docket. About Fly Low Inc. Fly Low, Inc., a privately-held company in Atlanta, Georgia, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 18-66925) on October 5, 2018. At the time of the filing, the Debtor had estimated assets of less than $50,000 and liabilities of $1 million to $10 million. The Debtor tapped Louis G. McBryan, Esq., at McBryan, LLC as its legal counsel. GARAFOLA PROPERTIES: U.S. Trustee Unable to Appoint Committee ------------------------------------------------------------- No official committee of unsecured creditors has been appointed in the Chapter 11 case of Garafola Properties LLC as of Nov. 29, according to a court docket. About Garafola Properties Garafola Properties LLC is a privately held company that owns 62 properties in Nashville, Tennessee having an aggregate value of $3.4 million. Garafola Properties filed a Chapter 11 petition (Bankr. M.D. Tenn. Case No. 18-06361) on Sept. 24, 2018. In the petition signed by Michael A. Garafola, chief manager, the Debtor disclosed $3,399,600 in assets and $4,020,274 in liabilities. The Hon. Randal S. Mashburn presides over the case. Steven L. Lefkovitz, Esq., at Lefkovitz & Lefkovitz, is the Debtor's bankruptcy counsel. GLOBAL HEALTHCARE: Completes Transfer of Ohio Facility Operations ----------------------------------------------------------------- Global Healthcare REIT, Inc. completed, effective Dec. 1, 2018, the operations transfer of its Meadowview nursing home facility in OH to an affiliate of Infinity Health Interests, LLC. The lease is structured with a lower base rent component than the prior operator but also includes occupancy-based escalators that will better align facility operations with future rental payments. As part of the transition, the Company committed a $250,000 Accounts Receivable Line of Credit to Infinity in order to ensure that no disruptions in management of the facility occur. The ARLOC is secured by a first lien on all the receivables of the facility as well as a personal guarantee from the two principals of Infinity. The Company expects facility level operational performance to quickly improve under Infinity's stewardship and commitment to the surrounding community. "We are excited to welcome Infinity to our family of operators and are eager to watch their progress at Meadowview," stated Zvi Rhine, Global's president and chief financial officer. "We have engineered a number of successful turnarounds at our facilities over the past few years and are equally confident in Meadowview's prospects." About Global Healthcare Greenwood Village, Colorado-based Global Healthcare REIT, Inc., acquires, develops, leases, manages and disposes of healthcare real estate, and provides financing to healthcare providers. As of Dec. 31, 2017, the Company owned nine healthcare properties which are leased to third-party operators under triple-net operating terms. Global Healthcare incurred a net loss of $3 million for the year ended Dec. 31, 2017, compared to a net loss of $1.29 million for the year ended Dec. 31, 2016. As of Sept. 30, 2018, the Company had $37.86 million in total assets, $36.37 million in total liabilities, and $1.48 million in total equity. MaloneBailey, LLP's audit opinion included in the company's annual report on Form 10-K for the year ended Dec. 31, 2017, contains a going concern explanatory paragraph stating that the Company has suffered recurring losses from operations and has a net capital deficiency that raise substantial doubt about its ability to continue as a going concern. HARAS SANTA: Case Summary & 20 Largest Unsecured Creditors ---------------------------------------------------------- Debtor: Haras Santa Isabel Inc. PO Box 13398 San Juan, PR 00908 Tel: 787-825-6344 Business Description: Haras Santa Isabel Inc. is a privately held company in Coamo, Puerto Rico in the horse breeding business. The Company previously sought bankruptcy protection on July 27, 2010 (Bankr. D.P.R. Case No. 10-06672). Chapter 11 Petition Date: December 4, 2018 Court: United States Bankruptcy Court District of Puerto Rico (Old San Juan) Case No.: 18-07077 Judge: Hon. Enrique S. Lamoutte Inclan Debtor's Counsel: Charles Alfred Cuprill, Esq. CHARLES A CUPRILL, PSC LAW OFFICES 356 Calle Fortaleza, Second Floor San Juan, PR 00901 Tel: 787 977-0515 Email: cacuprill@cuprill.com ccuprill@cuprill.com Total Assets: $2,579,669 Total Liabilities: $8,787,638 The petition was signed by Maria Teresa Baragano Amadeo, president. A full-text copy of the petition is available for free at: http://bankrupt.com/misc/prb18-07077.pdf List of Debtor's 20 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount ------ --------------- ------------ Abbey REO PR Corp $2,976,760 7 Metro Office Park Suite 204 Guaynabo, PR 00968 ADM Alliance Nutrition of PR, Inc. Horse Feed $114,000 American Express Corporate Credit Card $17,557 Charges AMG PSC Attorneys at Law Legal Fees $47,051 Banco de Desarollo Economico $1,333,054 PO Box 2134 San Juan, PR 00922-2134 Banco de Desarollo Economico Bank Loan $1,205,566 PO Box 2134 San Juan, PR 00922-2134 Banco Popular de Puerto Rico Line of Credit $40,000 Banco Santander Puerto Rico Bank Loan $279,200 PO Box 362589 San Juan, PR 00936-2589 CRIM $29,850 Departamento del Trabajo Unemployment $23,139 Insurance Department of Treasury of PR Payroll Taxes $91,712 El Borincano Feed Mills Inc. Animal Food $55,777 Eurobank Commercial Loan $88,016 Firstbank Deficiency $19,311 (Car Loan) Gregory Jackson Transportation $38,046 Services Hecto Berrios Fuentes Lawsuit $53,505 Internal Revenue Service Payroll Taxes $126,837 Jose A Santana CPA Accounting $13,440 Services Seminole Horse Feed $37,000 State Insurance Fund Corp. Workmen $140,544 Compensation Insurance HERITAGE HOME: Seeks January 25 Exclusive Filing Period Extension ----------------------------------------------------------------- Heritage Home Group, LLC and affiliates request the U.S. Bankruptcy Court for the District of Delaware to extend the Exclusive Periods during which the Debtors may file a chapter 11 plan and solicit acceptances thereof by approximately 90 days each through and including January 25, 2019, and April 25, 2019, respectively. Unless extended, the Plan Period was scheduled to expire November 26, 2018, and the Solicitation Period will expire January 25, 2019, respectively. The Debtors contend that the paramount goal in these chapter 11 cases was to maximize the value of their estates for the benefit of their creditor constituencies and other stakeholders through the sale of the their business units and remaining assets. To that end, the initial months of these chapter 11 cases have been focused almost exclusively on the sale process, and, as a consequence of the Debtors' efforts, the following sales have been approved and consummated: (a) On September 26, 2018, the Court entered an order approving the sale of substantially all of the Debtors' assets related to the Hickory Chair, Pearson, Maitland-Smith, and La Barge Brands. The Luxury Sale closed on October 12, 2018. (b) On September 27, 2018, the Court entered a final order authorizing, among other things, the Debtors to enter into and perform their obligations under that certain store closing and asset disposition agreement, by and among SB360 Capital Partners, LLC. The store closing sales remain ongoing. (c) On October 23, 2018, the Court entered orders approving the sales of the Debtors' intellectual property and other assets related to the Debtors' business of designing, manufacturing, sourcing, licensing, and selling home furnishings under the Broyhill, Thomasville, Drexel, Drexel Heritage, and Henredon brands. Each of these sales closed November 8, 2018. Basically, the Debtors claim that their sale process has been a success, producing far greater returns than originally projected, and although the store closing sales are ongoing and several of the Debtors' less-valuable assets continue to be marketed, the sale process is largely complete. Accordingly, the Debtors now intend to transition their efforts to winding down their affairs, and determining an appropriate strategy for making distributions to creditors. About Heritage Home Group LLC Heritage Home Group LLC -- http://www.heritagehome.com/-- designs, manufactures, sources and retails home furnishings. The company markets its products through a wide range of channels, including its own Thomasville retail stores and through interior designers, multi-line or independent retailers and mass merchant stores. It was formed by an affiliate of KPS Capital Partners, LP in November 2013 to acquire the brand portfolio and certain related assets of Furniture Brands International, Inc. Heritage Home Group and its affiliates sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case Nos. 18-11736 to 18-11740) on July 29, 2018. In the petitions signed by Robert D. Albergotti, chief restructuring officer, Heritage Home Group disclosed that it had estimated assets of $100 million to $500 million and liabilities of $100 million to $500 million. The Debtors tapped Young Conaway Stargatt & Taylor, LLP as their legal counsel; Houlihan Lokey Capital, Inc. as their investment banker; and Kurtzman Carson Consultants LLC as claims and noticing agent. On July 31, 2018, the Court authorized the joint administration of the Debtors' chapter 11 cases. On Aug. 31, 2018, the Court appointed Kurtzman Carson Consultants, LLC, as the Debtors' administrative advisor. HILL ENTERPRISES: Case Summary & 14 Unsecured Creditors ------------------------------------------------------- Debtor: Hill Enterprises of NW FL, Inc. dba Fishale Tap House and Grill 7715 Front Beach Road Panama City Beach, FL 32407 Business Description: Hill Enterprises of NW FL, Inc. dba Fishale Tap House and Grill operates a seafood restaurant in Panama Beach, Florida. Chapter 11 Petition Date: December 4, 2018 Court: United States Bankruptcy Court Northern District of Florida (Panama City) Case No.: 18-50325 Judge: Hon. Karen K. Specie Debtor's Counsel: Charles M. Wynn, Esq. CHARLES WYNN LAW OFFICES, P.A. P.O. Box 146 Marianna, FL 32447 Tel: 850-526-3520 Fax: 850-526-5210 Email: candy@wynnlaw-fl.com Estimated Assets: $500,000 to $1 million Estimated Liabilities: $1 million to $10 million The petition was signed by Leo F. Hill, Jr., president. A full-text copy of the petition containing, among other items, a list of the Debtor's 14 unsecured creditors is available for free at: http://bankrupt.com/misc/flnb18-50325.pdf HIS GRACE: $950K Sale of Brooklyn Property to G-Way Approved ------------------------------------------------------------ Judge Elizabeth S. Stong of the U.S. Bankruptcy Court for the Eastern District of New York authorized His Grace Outreach International's sale of the real property located at 1393 Flatbush Avenue, Brooklyn, New York to G-Way Corp. for $950,000. The sale is "as is, where is," without any representations or warranties, and free and clear of all liens, claims and encumbrances with such liens, claims and encumbrances to attach to the sale proceeds. The provisions of the Order will be immediately effective upon its entry and any actions taken pursuant thereto will survive entry of, and will govern with respect to any conflict with, any other order. The Debtor will be exempt from any transfer taxes which it may be exempt pursuant to Section 1146 of the Bankruptcy Code. About His Grace Outreach International His Grace Outreach International, based in Brooklyn, New York, filed a Chapter 11 petition (Bankr. E.D.N.Y. Case No. 17-40203) on Jan. 18, 2017. In the petition signed by George Mungai, president, the Debtor estimated assets between $500,000 and $1 million; and assets and liabilities between $500 million and $1 billion. Judge Elizabeth S. Stong presides over the case. The Law Office of Robert M. Fox, led by Robert M. Fox, serves as counsel to the Debtor. IHEARTMEDIA INC: Creditors Vote to Approve 5th Amended Plan ----------------------------------------------------------- iHeartMedia, Inc., on Dec. 3, 2018, announced voting results for the Company's Fifth Amended Joint Chapter 11 Plan of Reorganization. Voting results indicate that every class of creditors entitled to vote has voted to approve the Plan. More than 90% of the votes cast by creditors and shareholders who participated in the vote approved the Plan, demonstrating substantial support for, and far exceeding the votes necessary to confirm, the Plan. The voting results indicate strong support of iHeartMedia's Plan, which achieves a value-maximizing restructuring that comprehensively addresses the company's funded debt obligations and positions iHeartMedia for continued growth and long-term success. The Plan will reduce iHeartMedia's funded debt by approximately $10.3 billion -- to $5.75 billion -- and result in the separation of iHeartMedia's radio and outdoor advertising businesses. With the support of its creditors and the expected confirmation of the Plan, iHeartMedia expects to complete its restructuring process and exit Chapter 11 in early 2019. Final voting results will be filed with the United States Bankruptcy Court for the Southern District of Texas, Houston Division, prior to the hearing to confirm the Plan. For additional information about iHeartMedia's restructuring, including access to Court filings and other documents such as the Plan and related disclosure statement, please visit https://cases.primeclerk.com/iHeartMedia, call the company's Restructuring Information Hotline at (877) 756-7779 (for toll-free domestic calls) and (347) 505-7142 (for tolled international calls), or email iheartmediainfo@primeclerk.com. Kirkland & Ellis LLP is serving as legal counsel to iHeartMedia, Moelis & Company is serving as the company's investment banker, and Alvarez & Marsal is serving as the company's financial advisor. About iHeartMedia Inc. iHeartMedia, Inc. (PINK:IHRT), the parent company of iHeartCommunications, Inc., is a global media and entertainment company. Based in San Antonio, Texas, iHeartCommunications specializes in radio, digital, outdoor, mobile, social, live events, on-demand entertainment and information services for local communities, and uses its unparalleled national reach to target both nationally and locally on behalf of its advertising partners. The Company operates 849 radio stations. The Company's outdoor business reaches over 34 countries across five continents. To implement a balance sheet restructuring, iHeartMedia and 38 of its subsidiaries, including iHeartCommunications, Inc., filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 18-31274) on March 14, 2018. The cases are pending before the Honorable Marvin Isgur, and the Debtors requested joint administration of the cases. Clear Channel Outdoor Holdings, Inc. and its subsidiaries did not commence Chapter 11 proceedings. As of Sept. 30, 2017, iHeartCommunications had $12.25 billion in total assets, $23.93 billion in total liabilities, and a total stockholders' deficit of $11.67 billion. The Debtors hired Kirkland & Ellis LLP as legal counsel; Jackson Walker L.L.P. as local bankruptcy counsel; Munger, Tolles & Olson LLP as conflicts counsel; Moelis & Company and Perella Weinberg Partners L.P as financial advisors; Alvarez & Marsal as restructuring advisor; and Prime Clerk LLC as notice & claims agent. The 2021 Noteholder Group is represented by Gibson Dunn & Crutcher LLP and Quinn Emanuel Urquhart & Sullivan, LLP as co-counsel; and GLC Advisors & Co. as financial advisor. The ad hoc group of Term Loan Lenders is represented by Arnold & Porter Kaye Scholer LLP as counsel; and Ducera Partners as financial advisor. The Legacy Noteholder Group is represented by White & Case LLP as counsel. The Debtors' equity sponsors are represented by Weil, Gotshal & Manges LLP as counsel. The Office of the U.S. Trustee for Region 7 appointed an official committee of unsecured creditors on March 21, 2018. The creditors' committee tapped Akin Gump Strauss Hauer & Feld LLP as its legal counsel, FTI Consulting, Inc., as its financial advisor, and Jefferies LLC as its investment banker. ISMAIL ARSLANGIRAY: $650,000 Sale of Tacoma Property Okayed ----------------------------------------------------------- Judge Mary Jo Heston of the U.S. Bankruptcy Court for the Western District of Washington authorized Mark D. Waldron, the plan administrator for the estate of Ismail Arslangiray, to sell the real property located at 2906 North 30th Street, Tacoma, Pierce County, Washington for $650,000 or more, all cash at closing, to any third party buyer. The sale will be free and clear of any interest. Unless paid at closing and satisfied thereby, each lien or encumbrance will attach to the proceeds, after payment of costs of sale and the like. However, the property will not be transferred free and clear of real property tax liens related to tax years 2018 and 2019 not yet due and owing. The Plan Administrator, at closing, is authorized but not required to pay all costs of sale, including commissions, escrow fees, excise tax, recording cost, title insurance, real property taxes, and the like. The Plan Administrator, at closing, will pay directly from escrow, the obligation owing to Select Portfolio Servicing which is secured by the subject property, as well as the remaining balance owing on the Local Improvement District assessment for the subject property, unless assumed by the buyer. The remaining net sale proceeds will be held in trust by the Plan Administrator pending further Court Order. The Debtor will vacate the subject property on or before the closing date of sale. The sale is subject to the Order confirming the Chapter 11 Plan of Ismail Arslangiray and therefore exempt from excise taxes. Notwithstanding Bankruptcy Rule 6004(g), the Order will be effective immediately after its entry, absent a stay pending appeal. Ismail Arslangiray sought Chapter 11 protection (Bankr. W.D. Wash. Case No. 11-42290) on March 24, 2011. The Court appointed Mark D. Waldron as the plan administrator for the estate of the Debtor. JAMES CANDY: Seeks Authority to Use OceanFirst Cash Collateral -------------------------------------------------------------- James Candy Company seeks approval from the U.S. Bankruptcy Court for the District of New Jersey of its agreement with OceanFirst Bank, N.A. f/k/a OceanFirst Bank, as successor to Cape Bank authorizing its use of the cash collateral as set forth in the budget on and interim and final basis. The Debtor has prepared an operating budget through the end of December 2019 which indicates that the Debtor can fund further operations through the use of proceeds of existing cash and accounts and forecasted sales until it is able to confirm a Chapter 11 plan of reorganization. As demonstrated in the Budget, the Debtor forecasts operating disbursements in the approximate amount of $5,257,818. The Debtor entered into two loans with OceanFirst Bank. To secure its obligations to OceanFirst Bank under the Loans, the Debtor granted OceanFirst Bank a security interest in all of Debtor's assets, including but not limited to, Debtor's inventory, equipment, accounts and the proceeds thereof. Pursuant to the Loan Documents, OceanFirst Bank holds perfected, valid, enforceable and non-avoidable first-priority liens on and security interests in substantially all of the Debtor's now existing or hereinafter arising properties and assets. As of the Petition Date, the Debtor was obligated to OceanFirst Bank under the Loans in the approximate principal sums of $2,147,111 and $739,002, respectively. In return for the use of the cash collateral, the Debtor proposes to provide OceanFirst Bank with additional and replacement liens on all of the assets of the Debtor to the extent that the use of its pre-petition collateral (including cash collateral) results in a decrease in the value of OceanFirst Bank's liens in that pre-petition collateral, in the form of first priority liens on and valid security interests in, the same type of Debtor's property presently secured by valid and perfected pre-petition liens and security interests of OceanFirst Bank. The Debtor will also make periodic payments to OceanFirst Bank. In addition to the replacement liens, the proposed Interim Order grants OceanFirst Bank an allowed administrative expense claim having the priority specified in Section 507(b) of the Bankruptcy Code. A full-text copy of the Debtor's Motion is available at http://bankrupt.com/misc/njb18-32139-3.pdf About James Candy Company James Candy Company is a candy company in Atlantic City, New Jersey, offering a wide selection salt water taffy, fudge, and macaroons. James Candy Company, based in Atlantic City, NJ, filed a Chapter 11 petition (Bankr. D.N.J. Case No. 18-32139) on Nov. 7, 2018. In the petition signed by Frank Glaser, president, the Debtor disclosed $2,756,944 in assets and $3,048,241 in liabilities. The Hon. Andrew B. Altenburg Jr. presides over the case. Ira R. Deiches, Esq., at Deiches & Ferschmann, serves as bankruptcy counsel to the Debtor. JAMES W. GAMBLE JR: $40,000 Sale of 10,000 Bank Shares Approved --------------------------------------------------------------- Judge Marsha Phillips Parsons of the U.S. Bankruptcy Court for the Eastern District of Tennessee authorized James Walter Gamble, Jr.'s sale of 10,000 shares of stock of Heritage Community Bank to the Bank for $40,000 principal credit against Claim No. 10, filed by the Bank in the amount of $324,876. A hearing on the Motion was held on Nov. 20, 2018. James Walter Gamble, Jr. sought Chapter 11 protection (Bankr. E.D. Tenn. Case No. 17-51401) on Aug. 23, 2017. The Debtor tapped Maurice K. Guinn, Esq., at Gentry, Tipton & McLemore P.C., as counsel. JOHN CARROLL: Sale of Santa Barbara Property to Terblanche Approved ------------------------------------------------------------------- Judge Deborah J. Saltzman of the U.S. Bankruptcy Court for the Central District of California authorized John M. Carroll, III's sale of the residential property commonly known as 5219 E. Camino Cielo, Santa Barbara, California to Jacques Terblanche. A hearing on the Motion was held Nov. 8, 2018 at 10:30 a.m. The Court held that the purchase price is sufficient so that the demand of Bayview Loan Servicing and Bank of America, N. A. will be paid in full through escrow. Nothing in the Order will prevent Bank of America, N. A. from voluntarily reducing its demand to enable closing, the Court said. The Escrow will contact Bayview Loan Servicing and Bank of America, N. A. prior to the closing of escrow to obtain updated payoff quotes for the subject loans. Bayview Loan Servicing and Bank of America, N. A. may require updated payoff demands prior to the close of escrow to ensure the claims are paid in full. The Escrow is authorized to pay the recorded liens of Bayview Loan Servicing and Bank of America, N. A. against the property, any unpaid pro-rated property taxes, and ordinary and necessary costs of escrow, including the broker's commission, all as provided for in the purchase contract. The sale will be free and clear of the recorded liens of Montecito Bank & Trust, recorded as Instrument No. 2011-0037484 and Hartford Fire Insurance Co., recorded as Instrument Nos. 2014-0056923 and 2015-0052907, all in the official records of the County of Santa Barbara. The consideration from the sale is to be distributed as required in the confirmed Plan of Reorganization. The 14-day period provided for in Federal Rule of Bankruptcy Procedure 6004(h) is waived. John M. Carroll sought Chapter 11 protection (Bankr. C.D. Cal. Case No. 16-11261) on July 5, 2016. The Debtor tapped William C. Beall, Esq., at Beall and Burkhardt, APC, as counsel. JOHN DAILEY: $150,000 Sale of Wilcox Property to McGraw Approved ---------------------------------------------------------------- Judge Henry A. Callaway of the U.S. Bankruptcy Court for the Southern District of Alabama authorized John R. Dailey, Sr.'s sale of the tract of real property located in Wilcox County, Alabama of approximately 3 acres commonly identified as Parcel No. 15020400000100330, to Edgar McGraw for $150,000. A hearing on the Motion was held on Nov. 15, 2018. The sum of $1,625, representing the quarterly fees due from the Debtor based upon the disbursements made at closing, is to be paid directly from the closing agent to the law firm of Galloway, Wettermark & Rutens, LLP, to be held in trust for the Debtor until paid into Court with the Debtor's quarterly fees for the quarter ending Dec. 31, 2018. John R. Dailey, Sr. and Peggy A. Dailey sought Chapter 11 protection (Bankr. S.D. Ala. Case No. 17-03033) on Aug. 14, 2017. The Debtors tapped Robert M. Galloway, Esq., at Galloway Wettermark Everest & Rutens, LLP, as counsel. KAIROS HOMES: Mullins Buying Weatherford Property for $225K ----------------------------------------------------------- Kairos Homes, L.L.C., asks the U.S. Bankruptcy Court for the Northern District of Texas to authorize the sale of the real property located at 501 Pearson Ranch Road, Weatherford, Texas, also known as Lot 4+AC, CAD R000l05254, Pearson Ranch Estates Addition, City of Weatherford, Parker County, Texas, to Ross Mullins and Courtney Mullins for $225,000. A hearing on the Motion is set for Dec. 27, 2018 at 9:30 a.m. The objection deadline is Dec. 24, 2018. The Internal Revenue Service is the primary creditor in the case perfecting its interest in the net proceeds of the sales having filed federal tax liens against the Debtor. The Debtor asks the Court authorizes it to sell the property and to distribute the proceeds of the sales as follows: A. Immediately pay the IRS a lump-sum payment in the total amount of $40,000 and will continue making monthly installment payments in the amount of $20,000 until the IRS files their proof of claim for review. B. Retain the remainder of the cash collateral for wages and operating expenses. A copy of the Agreement attached to the Motion is available for free at: http://bankrupt.com/misc/Kairos_Homes_44_Sales.pdf The Creditor: INTERNAL REVENUE SERVICE 1100 Commerce St, Rm 9A20 MS 5026 DAL Dallas, TX 75242 E-mail: leo.v.carey@irs.gov About Kairos Homes Kairos Homes, L.L.C. -- http://www.kairoshomesllc.com/-- is a home builder in Fort Worth, Texas. Kairos Homes filed a Chapter 11 petition (Bankr. N.D. Tex. Case No. 18-43969) on Oct. 3, 2018. In the petition signed by Brian Frazier, president, the Debtor disclosed $3,006,914 in assets and $1,116,717 in liabilities. The Hon. Mark X. Mullin presides over the case. John Park Davis, Esq., at Davis Law Firm, serves as bankruptcy counsel. KAIROS HOMES: Seeks Authorization to Use Proceeds From Sale ----------------------------------------------------------- Kairos Homes, L.L.C., requests the U.S. Bankruptcy Court for the Northern District of Texas for authority to use cash collateral the estimated amount of $293,657, which consists of funds from the closing of the sale of the property located 588 Old Agnes Rd, Weatherford, TX 76088; Lot 5, Block 2.1ac, Old Agnes Ranch Addition to the City of Weatherford, Parker County, Texas in the amount of $315,000 to buyer, Brian Baker. The Internal Revenue Service is the primary creditor in this case perfecting its interest in the net proceeds of the sales having filed federal tax liens against Kairos Homes and is clearly oversecured based upon the IRS' proof of claim in the approximate amount of $775,279 secured with an unsecured amount of approximately $334,757. Kairos Homes requests the Court to sell this property and requests distribution of the proceeds of the sales as follows: (a) the IRS will receive a stated amount from the net proceeds of the sale of listed properties; and (b) the remainder of the cash collateral will be used for wages and operating expenses. Kairos Homes needs to use the proceeds from the sale of the property in order to meets its payroll and to purchase supplies needed in the operation of its business. Particularly, Kairos Homes needs to satisfy the following monies to continue operating: Land Purchase $100,000 Payroll $87,157 Materials $86,500 IRS $20,000 A full-text copy of the Debtor's Motion is available at http://bankrupt.com/misc/txnb18-43969-31.pdf About Kairos Homes Kairos Homes, L.L.C. -- http://www.kairoshomesllc.com/-- is a home builder in Fort Worth, Texas. Kairos Homes filed a Chapter 11 petition (Bankr. N.D. Tex. Case No. 18-43969) on Oct. 3, 2018. In the petition signed by Brian Frazier, president, the Debtor disclosed $3,006,914 in assets and $1,116,717 in liabilities. The Hon. Mark X. Mullin presides over the case. John Park Davis, Esq., at Davis Law Firm, serves as bankruptcy counsel. KELLY GRAINGER: $600K Sale of Waxhaw Property Approved ------------------------------------------------------ Judge Karen K. Specie of the U.S. Bankruptcy Court for the Northern District of Florida authorized Kelly Grainger's sale of the real property located at 332 Old Mill Road, Waxhaw, North Carolina for $599,999, subject to higher and better offers. The Debtor will satisfy all outstanding liens with Wells Fargo Bank, NA, pay closing costs and realtor fees from the proceeds of the sale. After payment of Wells Fargo Bank, NA, closing costs and realtor fees, all remaining proceeds will be deposited into the DIP account. In the event the proposed sale is insufficient to pay Wells Fargo Bank, NA in full and pay applicable closing costs and realtor fees, the sale will be continued until a hearing can be held thereon unless Wells Fargo Bank, NA specifically consents to the terms of a short sale with said consent being filed with the Court. Kelly Grainger sought Chapter 11 protection (Bankr. N.D. Fla. Case No. 17-50193) on June 26, 2017. Charles M. Wynn, Esq., at Charles M. Wynn Law Offices, P.A., serves as counsel to the Debtor. LNB-002-2013: Seeks March 27 Exclusive Plan Filing Period Extension ------------------------------------------------------------------- LNB-002-2013, LLC requests the U.S. Bankruptcy Court for the Southern District of Florida to extend by 90 days, to and including March 27, 2018, its exclusive periods to file a reorganization plan. The Debtor says it needs more time to negotiate with creditors and amend the plan and disclosure statement. The Debtor also seeks 60 additional days, to May 27, 2019, to solicit acceptances to the Plan. The Debtor represents that exclusivity currently expires December 27, 2018, if not extended by a motion filed prior to that date. The Debtor says it has been negotiating with its lender on a consensual plan, but additional time. and perhaps mediation, is needed. About LNB-002-2013 LLC LNB-002-2013, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 18-20502) on Aug. 28, 2018. At the time of the filing, the Debtor estimated assets of less than $50,000 and liabilities of less than $500,000. The Debtor tapped Joel M. Aresty P.A. as its legal counsel. The Petition was signed by Laurent Benzaquen, manager LNB Capital LLC. No official committee of unsecured creditors has been appointed in the Chapter 11 case of LNB-002-2013, LLC as of Oct. 10, according to a court docket. LOUIS TELERICO: $150K Sale of Aurora Property to Novak Approved --------------------------------------------------------------- Judge Alan M. Koschik of the U.S. Bankruptcy Court for the Northern District of Ohio authorized Louis Anthony Telerico's sale of the estate's interest in a vacant parcel of real property located at 132 Bristol Drive, Aurora, Ohio, identified by permanent parcel number 03-016-00-00-177-000, to Craig Novak for $150,000. A hearing on the Motion was held on Nov. 20, 2018 at 10:30 a.m. The sale is free and clear of all liens, claims and encumbrances. The Debtor is authorized and directed to disburse from the Gross Sale Proceeds at closing of the sale an amount sufficient to pay the Real Estate Taxes, the Closing Costs and any amount of the Net Proceeds to Stifel necessary to satisfy any remaining balance due it under the Compromise Motion. All other interests in the Bristol Parcel are transferred to the remaining Net Proceeds to be determined by a later order of the Court, in accordance with the respective rights and priorities of the holders of any interest in the Bristol Parcel, as such right appears and is entitled to be enforced against the Bristol Parcel, the Estate or the Debtor under the Bankruptcy Code or applicable non-bankruptcy law. A copy of the Agreement attached to the Order is available for free at: http://bankrupt.com/misc/Louis_Telerico_182_Order.pdf Louis Anthony Telerico sought Chapter 11 protection (Bankr. N.D. Ohio Case No. 17-50236) on Feb. 5, 2017. The Debtor tapped Frederic P. Schwieg, Esq., as counsel. LUNDIN MINING: S&P Affirms 'BB' ICR Then Withdraws Rating --------------------------------------------------------- S&P Global Ratings affirmed its 'BB' long-term issuer credit rating on Toronto-based base-metals producer Lundin Mining Corp. The outlook is stable. The withdrawal follows Lundin's recent repayment of the balance outstanding on its senior secured notes. The company no longer has any rated debt. MARWA ENTERPRISES: U.S. Trustee Unable to Appoint Committee ----------------------------------------------------------- No official committee of unsecured creditors has been appointed in the Chapter 11 case of Marwa Enterprises, LLC as of Nov. 13, according to a court docket. About Marwa Enterprises LLC Marwa Enterprises, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 18-02809) on Aug. 14, 2018. At the time of the filing, the Debtor estimated assets of less than $50,000 and liabilities of less than $1 million. The case has been assigned to Judge Paul M. Glenn. The Debtor tapped the Law Offices of Rehan N. Khawaja as its legal counsel. MCHYL ENTERPRISES: $5.5K Sale of Press to Graphtek Approved ----------------------------------------------------------- Judge Michael G. Williamson of the U.S. Bankruptcy Court for the Middle District of Florida authorized MCHYL Enterprises, Inc.'s sale of Polly model 574H, Serial No. 750104, five color, 20x29 inch Offset Sheetfed Press with console and Royse Space Saver circulation system to Graphtek Services, Inc. for the lump sum of $5,500. The Debtor will deposit the proceeds of the sale into its DIP bank account. About MCHYL Enterprises MCHYL Enterprises, Inc., is a privately-held company in Odessa, Florida that provides printing and related support activities. MCHYL Enterprises sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 18-01594) on March 1, 2018. In its petition signed by Thomas A. McLaren, president and chief executive officer, the Debtor disclosed $425,929 in assets and $1.55 million in liabilities. MELBOURNE BEACH: CRO Sets Bidding Procedures for All Assets ----------------------------------------------------------- Daniel J. Stermer, the Chief Restructuring Officer of Melbourne Beach, LLC, asks the U.S. Bankruptcy Court for the Middle District of Florida to authorize the bidding procedures in connection with the sale of substantially all of the Debtor's assets to Ledbetter Development, LLC, or its successors and assigns for $14.8 million, subject to overbid. The Assets are: A. Ocean Springs Plaza – real property located at 981 E. Eau Gallie Blvd., Melbourne, FL 32937, Florida2 and all associated unexpired leases and executory contracts and entitlements that may exist related thereto; and B. Real Estate COA's – all causes of action relating to the tenants and/or property of Ocean Springs Plaza. On Nov. 29, 2018, the CRO filed his Bid Procedures Motion. The Sale Motion is filed in conjunction with the Bid Procedures Motion and asks approval of the Sale described therein and in the Bid Procedures Motion, free and clear of all liens and encumbrances. Additionally, the CRO asks that the Court considers the Sale Motion and grants final approval of a Sale to the Successful Bidder or the Stalking Horse Purchaser at the hearing on Dec. 19, 2018 at 9:00 a.m. Once approved, the CRO plans for the Closing to occur by Jan. 18, 2019. Through the Bid Procedures Motion, the CRO asks approval of the sale process and procedures by which the Sale would take place, including procedures for assumption and assignment of executory contracts and unexpired leases. Additionally, the Bid Procedures Motion asks stay relief to permit the CRO to close any approved sale outside of the Bankruptcy Court in order to avoid a fundamental jurisdictional dispute asserted by Pirogee Investments, LLC, and Yellow Funding Corp. which could materially impair a sale process, deter insurers from issuing title policies, and, consequently, depress value of the Assets. The Bid Procedures Motion proposes the following timeline for the Sale: (a) Deadline to Submit Qualifying Bid Packet: Dec. 13, 2018 (b) Deadline to Tender Deposit of $250,000: Dec. 13, 2018 (c) Deadline to Approve Qualified Bidders: Dec. 16, 2018 (d) Auction: Dec. 18, 2018 at 1:00 p.m. (EST) (e) Hearing to Approve Sale: Dec. 19, 2018 at 9:00 a.m. (EST) (f) Closing: Jan. 18, 2019 After the solicitation of letters of intent from potential purchasers of the Assets, the CRO identified Ledbetter Development, LLC, or its successors and assigns, as the Stalking Horse Purchaser. In the Bid Procedures Motion, the CRO asks the Court's approval of an asset purchase agreement entered into by the Stalking Horse Purchaser and the CRO. According to the terms and conditions of the Stalking Horse APA, the CRO has concluded that consummation of the Sale to the Stalking Horse Purchaser (or to the highest and best bidder) will best maximize the value of the Debtor's estate. In order to ensure the highest possible recovery for the Debtor's estate, he has required that its obligation to proceed under the Stalking Horse APA be subject to the receipt of higher and better offers through a competitive auction. As set forth in full detail in the Bid Procedures Motion, the CRO proposes the following process for the competitive auction: (i) Qualified Bid: A qualified bid will be a bid submitted by no later than 5:00 p.m. (PET) on Dec. 13, 2018 to: Daniel J. Stermer, Chief Restructuring Officer for the Debtor, 500 West Cypress Creek Road, Suite 400, Fort Lauderdale, Florida 33309, Telephone 305-374-2717, dstermer@dsi.biz, in the minimum amount of $15,025,000, accompanied by a deposit in the amount of $250,000 and an executed asset purchase agreement. Ledbetter is deemed a Qualified Bidder. No Qualified Bid will be contingent upon financing or due diligence necessary to its consummation and each Qualified Bid must be payable in Cash and all Qualified Bidders will provide proof of available funds with their bid. There are no bidders who possess credit bid rights under 11 U.S.C. Section 363(k). (ii) Deposit: The deposit will be in cash, in the amount of no less than $250,000 for the benefit of the estate, which must be received by the CRO's escrow agent, Old Republic National Title Insurance Co., 1410 N. Westshore Blvd., Suite 800, Tampa, FL 33607, (c/o Susan Seaford, Esq.), along with a executed Deposit Escrow Agreement by the Bid Deadline. (iii) "As Is, Where Is": The Assets will be transferred on an "as is" and "where is" basis. (iv) Auction and Bidding Increments: If an Auction is conducted, then it will take place at Carlton Fields, CNL Tower I, 450 South Orange Avenue, Suite 500, Orlando, FL 32801-3370 on Dec. 18, 2018. Each competing bid must be in increments of at least $100,000 greater than the immediately preceding competing bid, unless this amount is modified by the CRO in his sole discretion, and each competing bid must be payable in Cash. (v) Successful Bidder: Immediately after the conclusion of all bidding (if any), the CRO will file a notice with the Court identifying the party who has submitted the highest or otherwise best offer to purchase the Assets (or any portion thereof) and the party (if any) who has submitted the second highest or otherwise best offer to purchase the Assets and ask approval of such Successful Bidder and Backup Bidder at the Sale Hearing. (vi) Sale Hearing and Bankruptcy Court Approval: Dec. 19, 2018 at 9:00 a.m. (vii) Free and Clear: The sale will be free and clear of all liens, claims and encumbrances and any valid liens will attach to the net sale proceeds. (ix) Closing: Except as otherwise agreed to in writing by the CRO, the closing of the sale of the Assets shall take place at the law offices of Carlton Fields, CNL Tower I, 450 South Orange Avenue, Suite 500, Orlando, FL 32801-3370, on Jan. 18, 2019. Pursuant to the Stalking Horse APA, the Stalking Horse Purchaser or the Successful Bidder of Closing to no later than Jan. 31, 2019 in certain circumstances. (x) Break Up Fee: $75,000 plus all actual expenses incurred by the Stalking Horse Purchaser for a land survey, a Phase 1 Environmental Report, a building engineering report, and, if necessary, a Phase 2 Environmental Report of the Ocean Springs Plaza. The CRO believes that a Sale pursuant to the Bidding Procedures will insure that the estate realizes the highest and best possible value for the Assets. He proposes that any liens transfer and attach to the net sale proceeds with the same validity, priority, force and effect that such liens had on the Assets immediately prior to the closing. The CRO believes that the following liens exist as to the Assets. About Melbourne Beach Established in 1998, Melbourne Beach, LLC is a privately held company that leases real properties. Melbourne Beach is the owner of Ocean Spring Plaza, located at 981 E. Eau, Gallie Boulevard, Melbourne, Florida, valued by the company at $15.30 million. The company's gross revenue amounted to $997,732 in 2016 and $924,000 in 2015. Melbourne Beach filed a Chapter 11 petition (Bankr. M.D. Fla. Case No. 17-07975) on Dec. 26, 2017. In the petition signed by Brian West, its managing member, the Debtor disclosed $15.35 million in assets and $2.82 million in liabilities. James W. Elliott, Esq., at McIntyre Thanasides Bringgold Elliott Grimaldi Guito & Mathews, P.A., serves as bankruptcy counsel to the Debtor. Marcus & Millichap is the Debtor's real estate broker. No official committee of unsecured creditors has been appointed in the Chapter 11 case. MICHAEL HAGHIGHI: $365K Sale of Jacksonville Property Stake Okayed ------------------------------------------------------------------ Judge Paul M. Green of the U.S. the U.S. Bankruptcy Court for the Middle District of Florida authorized Michael Haghighi's private sale of interest in the real property located at 3554 Waterchase Way E., Jacksonville, Florida to Christopher C. Buchanan and Angela J. Hackney for $365,000. The sale is free and clear of all liens, claims, encumbrances, and interests. Notwithstanding the foregoing, Branch Banking and Trust Co. ("BB&T"), the first mortgage holder, and BBVA Compass Bank, the second mortgage holder, are authorized to review any proposed short sale contract according to their standard processes to determine whether they will accept the terms of the short sale contract. Therefore, the Order is subject to written consent of BB&T and Compass as to the terms of the sale and final written approval of a HUD-1 Settlement Statement. The sale of the Property will not be effective absent consent of the Debtor, BB&T and Compass to all proposed short sale terms. The Order will not be construed as binding on BB&T and Compass to accept any terms of a proposed short sale prior to their review and acceptance of a proposed short sale contract. The Debtor is authorized to pay the ordinary and customary closing costs related to the sale of the property, including all brokers' commissions as more fully set forth in the ALTA Settlement Statement attached to the Motion or in such other amounts may be necessary for to account for necessary adjustments and pro-rations. The Court waived the 14-day stay pursuant to Rule 6004(h) and the Debtor is authorized to close the sale of the Property immediately upon the entry of the Order. Michael Haghighi sought Chapter 11 protection (Bankr. M.D. Fla. Case No. 17-03112) on Aug. 24, 2017. The Debtor tapped Jerrett M. McConnell, Esq., at McConnell Law Group, as counsel. MID-SOUTH GEOTHERMAL: $100K Sale of Equipment to East West Approved ------------------------------------------------------------------- Judge David S. Kennedy of the U.S. Bankruptcy Court for the Western District of Tennessee authorized Mid-South Geothermal, LLC's sale of multiple pieces of equipment, including a 1987 Ingersoll Rand T4W Rig and attachments, to East West Drilling, Inc. for $100,000. Regions Bank approves of the sale and withdraws its Limited Objection based upon distribution of $75,000 to Regions Bank; and $25,000 to K&W Drilling, Inc. and/or James Wyatt in full satisfaction of all claims by K&W against Debtor or Regions Bank. Upon receipt of the $25,000, K&W will withdraw its Proof of Claim. Upon payment of $25,000 to K&W, K&W will turnover any certificate of title or other evidence of ownership of the Property to the Debtor. Upon payment of $75,000 to Regions, Regions will execute a partial release of its UCC-1 related to the Property. The automatic stay is modified to allow the parties to execute the necessary documents to facilitate the transfer. About Mid-South Geothermal Mid-South Geothermal, LLC, installs geothermal heating and cooling systems for large commercial projects. Its principal place of business is located at 28 Superior Lane Gray, Kentucky. Mid-South Geothermal filed for Chapter 11 bankruptcy protection (Bankr. W.D. Tenn. Case No. 18-21498) on Feb. 20, 2018. In the petition signed by Scott W. Triplett, president, the Debtor reported $2.04 million in total assets and $2.14 million in total liabilities. Judge David S. Kennedy is the case judge. Steven N. Douglass, Esq., at Harris Shelton Hanover Walsh, PLLC, serves as the Debtor's bankruptcy counsel. MONTAUK TRANSIT: U.S. Trustee Unable to Appoint Committee --------------------------------------------------------- No official committee of unsecured creditors has been appointed in the Chapter 11 case of Montauk Transit LLC as of Nov. 8, according to a court docket. About Montauk Transit LLC Montauk Transit LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. N.Y. Case No. 18-76716) on October 5, 2018. At the time of the filing, the Debtor had estimated assets of less than $50,000 and liabilities of less than $500,000. The case has been assigned to Judge Louis A. Scarcella. MONTGOMERY SERVICES: Seeks February 19 Plan Exclusivity Extension ----------------------------------------------------------------- Montgomery Services, Inc., asks the U.S. Bankruptcy Court for the Southern District of Florida to extend the exclusive periods within which only the Debtors may propose and solicit acceptances to its Plan for a 90-day period, through and including February 19, 2019 and including April 22, 2019, respectively. Currently, the Debtors require additional time to establish a clearer track record of income and expenses in order to formulate a feasible plan. The Debtors are also currently seeking resolutions with several creditors, which will also have a material effect on the plan. As such, the Debtors are seeking an extension in good faith and not to unnecessarily delay the progress of its case. About Montgomery Services Montgomery Services, Inc., dba Mammoth Restoration of the Palm Beaches, is a leader in Pennsylvania repair and restoration. Montgomery Services filed a voluntary petition under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 18-15699) on May 11, 2018. In the petition signed by its president, Nathan M Smith, the Debtor disclosed under $500,000 both in assets and liabilities. Aaron A. Wernick, Esq., at Furr & Cohen, is the Debtor's counsel. MORGAN STANLEY: Trustee Seeks Judicial Instruction on Cert. Trust ----------------------------------------------------------------- Wilmington Trust Company filed a petition for judicial instruction under Article 77 of the New York Civil Practice Law and Rules, instituting the action styled in the matter of the application of Wilmington Trust, solely in its trustee capacity of the Morgan Stanley Mortgage Loan Trust 2007-12, Index No. 655572/2018, in the Supreme Court of the State of New York, County of New York. The petition seeks, among other things, approval from the Court of the trustee's acceptance, execution, and implementation of the trust settlement agreement, which the trustee received and accepted from Morgan Stanley. A preliminary status conference with counsel will be held on Jan. 24, 2019, at 10:00 a.m., to discus scheduling of future proceedings. Further information regarding the settlement agreement, contact: Wilmington Trust Company 1100 North Market Street Wilmington, DE 19890-0001 Fax: (302) 636-4140 Email: rmbstrustee@wilmingtontrust.com NORTHERN POWER: Comerica Extends Forbearance Until April 2019 ------------------------------------------------------------- Northern Power Systems, Inc., a wholly owned subsidiary of Northern Power Systems Corp, a British Columbia corporation, has entered into an Amended and Restated Forbearance Agreement with Comerica Bank. On May 29, 2018, Comerica informed the Company that the Company was not currently in compliance with two covenants under that certain Amended and Restated Loan and Security Agreement by and between the Company and Comerica dated Dec. 31, 2013 and as amended. Ultimately, Comerica and the Company entered into a Forbearance Agreement dated Aug. 2, 2018 which the Company previously disclosed on a Form 8-K dated Aug. 2, 2018. The Amended Forbearance Agreement amends and restates the Forbearance Agreement. The terms of the Amended Forbearance Agreement provide, among other things, that Comerica will, until the earlier of (i) April 1, 2019 or (ii) such date that there shall occur any further event of default, forbear from exercising any remedies that it may have against the Borrower as a result of the occurrence of the existing defaults. In the event of a default, Comerica may immediately call the Loan. Further the Amended Forbearance Agreement provides that the Company (i) will repay its obligations under the Loan pursuant to the repayment schedule below and (ii) the Company shall use its best efforts to secure replacement financing of the debt under the Loan as soon as possible, and on or before March 1, 2019. Repayment Schedule: Payment Date Payment Amount Principal Outstanding ------------ -------------- --------------------- Earlier of Sale Date $250,000, Subject $650,000 Set Forth on Exhibit to Exhibit A A or December 7, 2018 Earlier of Sale Date $350,000, Subject $300,000 Set Forth on Exhibit to Exhibit A A or February 1, 2019 February 21, 2019 $100,000 $200,000 March 21, 2019 $100,000 $100,000 April 1, 2019 $100,000 $0 The full-text copy of the Amended and Restated Forbearance Agreement is available at no charge at https://is.gd/bZonS0 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. The Toronto Stock Exchange delisted the Company's securities from the TSX, effective Oct. 22, 2018, for failure to comply with the TSX continued listing requirements. OKANA LLC: Seeks February 19 Exclusive Plan Filing Period Extension ------------------------------------------------------------------- Okana, LLC, and Sunglass Trader, Inc. ask the United States Bankruptcy Court for the Southern District of Florida to extend the exclusive period within which the Debtors may propose a Plan and solicit acceptances to its Plan for 90 days through and including February 19, 2019 and April 22, 2019, respectively. Currently, the Debtors require additional time to establish a clearer track record of income and expenses to formulate a feasible plan. In addition, the Debtors are seeking resolutions with several creditors at this time, which will also have a material effect on the plan. This is the Debtors' first request for an extension of exclusivity. As such, the requested extension, if granted, will not prejudice the legitimate interests of creditors and other parties in interest. About Okana LLC Okana, LLC sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 18-18833) on July 20, 2018. In the petition signed by Gregory Sarkin, president, the Debtor disclosed that it had estimated assets of less than $100,000 and liabilities of less than $1 million. Judge Mindy A. Mora presides over the case. The Debtor tapped Aaron A. Wernick, Esq., at Furr & Cohen, as its legal counsel. No official committee of unsecured creditors has been appointed in the Chapter 11 case of Okana, LLC as of September 5, according to a court docket. ONTARIO ORTHOTIC: Intends to File Bankruptcy Proposal ----------------------------------------------------- Agility Health, Inc. (AHI) disclosed that on Dec. 3, 2018, four of the Company's operating subsidiaries; Ontario Orthotic Lab Inc., Premier Footworks Inc., Veba Sock Company and Medic Holdings Corp. ("Subsidiaries"), have proactively each filed a Notice of Intention to Make a Proposal ("Notices") pursuant to the provisions of Part III of the Bankruptcy and Insolvency Act (Canada) (the "BIA"). Pursuant to the Notices, Ernst & Young Inc. has been appointed as the trustee in each of the Subsidiaries' proposal proceedings and will assist the Subsidiaries in their restructuring efforts. The filing of the Notices has the effect of imposing an automatic 30-day stay of proceedings that will protect the Company and the Subsidiaries and their assets from the claims of creditors while the Company pursues its restructuring efforts. This 30-day period may be extended with the authorization of the Ontario Superior Court. The Company is actively seeking further sources of funding although there can be no guarantee that the Company will be successful in securing further financing or achieving its restructuring objectives. About Agility Health Through its Canadian subsidiary and principal operating entity, Medic Holdings Corp., Agility Health operates foot care clinics in Ontario and Quebec and manufactures orthotics and prosthetics. PALADIN HOSPITALITY: Seeks May 13 Exclusive Filing Period Extension ------------------------------------------------------------------- Paladin Hospitality, LLC requests the U.S. Bankruptcy Court for the Northern District of Georgia to extend the exclusivity period within which to file a chapter 11 plan of reorganization for an additional 90 days through and including May 13, 2019, as well as its solicitation deadline through and including June 13, 2019. This is the first time that Debtor sought extension of the Exclusivity Periods. The Debtor contends that it is still attempting to negotiate a plan with its major creditors. About Paladin Hospitality Paladin Hospitality, LLC, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 18-67292) on Oct. 12, 2018. In the petition signed by Earl E. Cloud, III, owner, the Debtor estimated assets of less than $50,000 and debts of less than $1 million. The Debtor tapped William Anderson Rountree, Esq., at Rountree & Leitman, LLC, as counsel. No official committee of unsecured creditors has been appointed in the Chapter 11 case. PANNEL PARTNERSHIP: U.S. Trustee Unable to Appoint Committee ------------------------------------------------------------ The Office of the U.S. Trustee on Nov. 13 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of Pannel Partnership, L.P. About Pannel Partnership L.P. Pannel Partnership, L.P., is a privately-held company engaged in activities related to real estate. Pannel Partnership sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 18-35523) on Oct. 1, 2018. At the time of the filing, the Debtor estimated assets of $1 million to $10 million and liabilities of $1 million to $10 million. Judge Jeff Bohm presides over the case. The Debtor tapped The Towber Law Firm, PLLC, as its legal counsel. PARTIKULA LLC: To Auction All Assets on Dec. 14 ----------------------------------------------- Partikula LLC will have an auction of all of its remaining assets on Dec. 14, 2018, at 10:00 a.m., at the offices of the 2M Companies LLC, 3333 Lee Parkway, Suite 470 in Dallas, Texas. Assets up for auction include patent applications: -- Title: compositions and methods for modulating cancer cell metabolism Official No./Application No.: 62/262,203 Application date: Dec. 2, 2015; -- Title: methods of selecting subjects for treatment with metabolic modulators Official No./Application No.: 15/609,992 Application date: May 31, 2017; -- Title: modification of therapeutic agents for enhanced delivery to target sites Official No./Application No.: 16/660,256 Application date: July 26. 2017. The assets of the Company may be inspected upon execution of a mutually acceptable confidentiality agreement. Further information regarding the auction, contact Michael T. Tarksi at (214) 443-2055. Based in Sunrise, Florida, Partikula LLC -- http://www.partikula.com/-- develops novel therapies for cancer and other diseases based on platform chemistry technologies. PEANUT CO: Kallevigs Selling Bucyrus Residential Property for $606K ------------------------------------------------------------------- Eric and Kara Kallevig, affiliates of The Peanut Co, LLC, ask the U.S. Bankruptcy Court for the District of Kansas to authorize the sale of their principal residence and real property located at 10921 West 247th Street, Bucyrus, Kansas to Joshua Flaming, Amy Flaming, amc Margaret Willson and Charles Willson, amc, for $606,000. Creditors (i) Wells Fargo Bank, N.A., as Trustee for the Pooling and Servicing Agreement Dated as of April 1, 2005 Park Place Securities, Inc. Asset-Backed Pass-Through Certificates Series 2005-WHQ2, (ii) Bank of the Prairie, (iii) ReadyCap Lending, LLC, and (iv) Sutherland 2016-1 JPM Grantor Trust all hold recorded liens in the Debtors' Real Property. Other than the recorded liens and any real estate taxes owing to the Debtors' county of residence on the Real Property, there are no other known liens or other encumbrances on the Real Property. The Debtors have been trying to sell the Real Property for years, beginning in 2016, when they originally listed the Real Property for sale at $875,000. Over time, and beginning more aggressively in 2018, they began systematically lowering the sale price on the Real Property until they finally received and accepted the proposed offer to sell the Real Property for $606,000. The Debtors believe that this is the best price they can receive on the Real Property at this time and in the real estate market. The real property taxes associated with the Real Property and the Claims by creditors Wells Fargo and Bank of the Prairie will be paid at the closing of the sale. After payment of traditional residential real property administrative, sale, and closing costs, along with taxes and the liens of Wells Fargo and Bank of the Prairie, the liens held by ReadyCap Lending, LLC, and Sutherland 2016-1 JPM Grantor Trust will be only partially satisfied by the remaining proceeds resulting from the sale of the Real Property. However, all remaining proceeds will be paid to ReadyCap Lending, LLC, and Sutherland 2016-1 JPM Grantor Trust. At this time, ReadyCap Lending, LLC, and Sutherland 2016-1 JPM Grantor Trust have not consented to the sale. But they could be compelled in a legal or equitable proceeding to accept a money satisfaction of such interest. Accordingly, the sale of the Real Property will be free and clear of liens. A copy of the Contract attached to the Motion is available for free at: http://bankrupt.com/misc/Peanut_Co_163_Sales.pdf About The Peanut Co The Peanut Co, LLC, is a privately held company whose principal assets are located at 7489 W. 161st Overland Park, Kansas. Peanut Co. and its affiliates sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Kan. Case Nos. 18-20850 to 18-20852) on April 25, 2018. The debtor-affiliates are Marcy, LLC, and Eric Rue Kallevig and Kara Lynn Kallevig. In the petition signed by Eric Rue Kallevig, sole member and owner, Peanut Co estimated assets of less than $50,000 and liabilities of $1 million to $10 million. The Debtors hired Patton Knipp Dean LLC and Mann Conroy, LLC, as legal counsel, and Carpani and Gordon, P.A., as special tax counsel. PERRY ELLIS: S&P Withdraws 'B+' ICR Amid Acquistion by Founder -------------------------------------------------------------- S&P Global Ratings withdrew its 'B+' issuer credit rating on Miami-based Perry Ellis International Inc. because S&P has not received information about the company's capital structure, its strategies and financial policies since its acquisition by founder George Feldenkreis. That information would have enabled S&P to resolve the outstanding CreditWatch placement and conduct ongoing surveillance. RAYMOND WILLMS: $2.8MM Sale of 6 New Jersey Properties Approved --------------------------------------------------------------- Judge John K. Sherwood of the U.S. Bankruptcy Court for the District of New Jersey authorized Raymond L. Willms' sale of six real estate properties to David Picinich or his assignee: (1) 320 32nd Street, Union City, New Jersey; (2) 322-324 32nd Street, Union City, New Jersey; (3) 326 32nd Street, Union City, New Jersey; (4) 328 32nd Street, Union City, New Jersey; (5) 4122 Bergen Turnpike, North Bergen, New Jersey; and (6) 4126 Bergen Turnpike, North Bergen, New Jersey for $2.79 million, subject to any higher and or better offers. The $2.79 million price is for all the six properties and are considered a package sale notwithstanding that there are six contracts. The Motion to Convert Or Dismiss Chapter ll filed in behalf of Karen Sawyer and Jesse Sawyer, as secured creditors, is adjourned to Jan. 8, 2019. The Debtor at closing is authorized to pay customary closing costs and pay to the Court-retained realtor, Lisa Caban, her commission of $139,500, which is 5% of the total sales price and in accordance with listing agreement. Any other professional fees will be subject to application to the Court. The Debtor will also pay the Sawyers at closing the full amount of their secured claim. Thereafter, the Debtor is authorized to pay judgment creditor, State of New Jersey. Any net sale proceeds from properties 1, 2, 3, 4 and /or 6 will be property of the bankruptcy estate, and will be held in escrow by John W. Sywilok, LLC pending further Court Order. The six contracts are amended to provide that the Buyer or assignee will have 45 day due diligence period from the date of the entry of this Order to perform an environmental investigation of the property. The environmental investigation will include, but not limited to, a Phase I and a Phase II investigation. The Buyer may cancel the contract for any reason if not satisfied with the result of the environmental investigation. Any material changes to the contracts in price because of environmental issues will require a further appearance before the Court for approval. The net proceeds of sale of Property 5 will be paid to the Debtor/administrator in trust for the heirs of Russell Willms and Randal Willms. As provided by Bankruptcy Rules 6004(h), 6006(d) and 7062, the Order will be effective immediately upon its entry, and the sale approved by the Order may close immediately upon its entry, notwithstanding any otherwise applicable waiting periods. The Clerk will serve notice of the entry of the order upon the Debtor, the Debtor's attorney, the United States Trustee and any other party who entered an appearance in the matter. Raymond L. Willms sought Chapter 11 protection (Bankr. D.N.J. Case No. 18-21502) on June 6, 2018. The Debtor tapped John W. Sywilok, Esq., at John W. Sywilok, LLC as counsel. On Oct. 15, 2018, the Court retained special counsel, Severio V. Cereste, Esq. RICHARD DODDS: $2,000 Sale of Breckenridge Park Trailer Approved ---------------------------------------------------------------- Judge Joseph G. Rosania, Jr. of the U.S. Bankruptcy Court for the District of Colorado authorized Richard John Dodds and Cheryl Ann Dodds to sell their 2002 Breckenridge Park Model Trailer to David Dodds for $6,051. The Purchaser is a brother of Richard J. Dodds. The purchase price will be paid to Gate City Bank in full and final satisfaction of its claim against the Debtors. Richard John Dodds and Cheryl Ann Dodds sought Chapter 11 protection (Bankr. D. Colo. Case No. 16-10809) on Feb. 1, 2016. SEAL123 INC: Trust's $340K Sale of Class Action Claim Approved -------------------------------------------------------------- Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the District of Delaware authorized Seal123, Inc. Liquidation Trust's sale of the potential claim in connection with the Class Action Interchange Litigation to Optium Fund 2, LLC, pursuant to their Asset Purchase and Sale Agreement, for $340,000. The sale is free and clear of all liens, claims and encumbrances, with such liens, claims and encumbrances to attach to the proceeds of the Sale. The sale of the Potential Claim is taking place under a plan confirmed under section 1129 of the Bankruptcy Code as contemplated under section 1l46(a), and therefore is exempt from any and all sales, transfer, recording, stamp tax or similar taxes. Notwithstanding Bankruptcy Rule 6004(h), the Order will be effective and enforceable immediately upon its entry. About Seal123, Inc. The Wet Seal, Inc., and three affiliates The Wet Seal Retail, Inc., Wet Seal Catalog, Inc., and Wet Seal GC, LLC, filed Chapter 11 petitions (Bankr. D. Del. Case Nos. 15-10081 to 15-10084) on Jan. 15, 2015. The Debtors are a national multi-channel retailer selling fashion apparel and accessory items designed for female customers aged 13 to 24 years old. In the petitions signed by Thomas R. Hillebrandt, interim CFO, The Wet Seal, Inc., disclosed $215,254,952 in assets and $60,598,968 in liabilities as of the Chapter 11 filing. The Hon. Christopher S. Sontchi presides over the jointly administered cases. Maris J. Kandestin, Esq., and Michael R. Nestor, Esq., at Young Conaway Stargatt & Taylor, LLP; Lee R. Bogdanoff, Esq., Michael L. Tuchin, Esq., David M. Guess, Esq., and Jonathan M. Weiss, Esq., at Klee, Tuchin, Bogdanoff & Stern LLP; and Paul Hastings LLP, serve as the Debtors' Chapter 11 counsel. FTI Consulting serves as the Debtors' restructuring advisor. The Debtors' investment banker is Houlihan Lokey. The Debtors tapped Donlin, Recano & Co., Inc., as claims and noticing agent. B. Riley, the original DIP lender and plan sponsor, is represented by Van C. Durrer, II, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP. Versa Capital Management, LLC, and its affiliate, Mador Lending, LLC, which was selected as the successful bidder at an auction, is being advised by Greenberg Traurig LLP, Klehr Harrison Harvey Branzburg LLP, and KPMG LLP. The U.S. Trustee has appointed an Official Committee of Unsecured Creditors. The Committee retained Pachulski Stang Ziehl & Jones LLP as its counsel and Province Inc. as its financial advisor. The Wet Seal, Inc., changed its name to "Seal123, Inc." on April 17, 2015, in accordance with the Asset Purchase Agreement with Mador Lending, LLC, an affiliate of Versa Capital Management, LLC as buyer. On Oct. 30, 2015, the Court confirmed the First Amended Joint Plan of Liquidation of Sea1123, Inc. and Subsidiary Debtors and Their Official Committee of Unsecured Creditors. The Plan became effective on Dec. 31, 2015. SEARS HOLDING: Bid Deadline for SHIP Business Set for Dec. 11 ------------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of New York approved the bidding procedures for the sale of Sears Holdings Corporation, et al.'s Sears Home Improvement Business. As reported by the Troubled Company Reporter on Nov. 23, 2018, the Debtors and Service.com (the "Stalking Horse Bidder") entered into an asset purchase agreement (the "Stalking Horse Agreement") for the sale of the SHIP Business, pursuant to which: (i) the Stalking Horse Bidder agreed to pay $60,000,000 in cash, prior to adjustment of such amount in accordance with the terms of the Stalking Horse Agreement (the 'Cash Purchase Price'), and to assume certain assumed liabilities (together with the Cash Purchase Price, the 'Stalking Horse Bid') for the Assets, subject to higher or better offers, and Court approval; and (ii) the Debtors agreed that, in the event that the Court approves the purchase of the SHIP Business by any bidder other than the Stalking Horse Bidder, to pay the Stalking Horse Bidder and such transaction is consummated, a break-up fee in the amount of 1.5% of the Cash Purchase Price (the 'Break-Up Fee'). Any person or entity interested in participating in the auction must submit a qualified bid on or before Dec. 11, 2018, at 4:00 p.m. (prevailing Eastern time). Objections to the sale, if any, are due no later than 4:00 p.m. (prevailing Eastern time) on Dec. 11, 2018. An auction for the assets has been set for Dec. 13, 2018, at 10:00 a.m. (prevailing Eastern Time), and will be conducted at the offices of: Weil, Gotshal & Manges LLP 767 Fifth Avenue New York, New York Tel: (212) 310-8000 The Court will hold a sale hearing on Dec. 18, 2018, at 10:00 p.m. (prevailing Eastern Time), at the U.S. Bankruptcy Court for the Southern District of New York, 300 Quarropas Street, White Plains, New York 10601. About Sears Holdings Sears Holdings Corporation (NASDAQ: SHLD) -- http://www.searsholdings.com/-- began as a mail ordering catalog company in 1887 and became the world's largest retailer in the 1960s. At its peak, Sears was present in almost every big mall across the U.S., and sold everything from toys and auto parts to mail-order homes. Sears claims to be is a market leader in the appliance, tool, lawn and garden, fitness equipment, and automotive repair and maintenance retail sectors. Sears and Kmart merged to form Sears Holdings in 2005 when they had 3,500 US stores between them. Kmart emerged in 2005 from its own bankruptcy. Unable to keep up with online stores and other brick-and-mortar retailers, a long series of store closings has left it with 687 retail stores in 49 states, Guam, Puerto Rico, and the U.S. Virgin Islands as of mid-October 2018. The Company employs 68,000 individuals, of whom 32,000 are full-time employees. As of Aug. 4, 2018, Sears Holdings had $6.93 billion in total assets, $11.33 billion in total liabilities and a total deficit of $4.40 billion. Unable to cover a $134 million debt payment due Oct. 15, 2018, Sears Holdings Corporation and 49 subsidiaries sought Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 18-23538) on Oct. 15, 2018. The Hon. Robert D. Drain is the case judge. Weil, Gotshal & Manges LLP is serving as legal counsel, M-III Partners is serving as restructuring advisor and Lazard Freres & Co. LLC is serving as investment banker to Holdings. DLA Piper LLP is the real estate advisor. Prime Clerk is the claims and noticing agent. SENIOR CARE: Case Summary & 40 Largest Unsecured Creditors ---------------------------------------------------------- Lead Debtor: Senior Care Centers, LLC 600 N. Pearl Street, Suite 1100 Dallas, TX 75201 Business Description: Senior Care Centers, LLC is a Dallas-based operator of skilled nursing and long-term care facilities. Senior Care Centers operates and manages more than 100 skilled nursing and assisted/independent living communities in the states of Texas and Louisiana. For more information, visit https://senior-care-centers.com Chapter 11 Petition Date: December 4, 2018 Court: United States Bankruptcy Court Northern District of Texas (Dallas) One hundred twenty-one affiliated entities that simultaneously filed voluntary petitions seeking relief under Chapter 11 of the Bankruptcy Code: Debtor Case No. ------ -------- Senior Care Centers, LLC (Lead Case) 18-33967 Brownwood SCC LLC 18-33968 Community SCC LLC 18-33969 Crowley SCC LLC 18-33970 Green Oaks SCC LLC 18-33971 Harbor Lakes SCC LLC 18-33972 Hewitt SCC LLC 18-33973 Holland Lake SCC LLC 18-33974 Mission SCC LLC 18-33975 Redoak SCC LLC 18-33976 Stallings Court SCC LLC 18-33977 Stonegate SCC LLC 18-33978 PM Management - Garland NC LLC 18-33979 PM Management - Golden Triangle NC I LLC 18-33980 PM Management - Golden Triangle NC II LLC 18-33981 PM Management - Golden Triangle NC III LLC 18-33982 PM Management - Golden Triangle NC IV LLC 18-33983 PM Management - Killeen I NC LLC 18-33984 PM Management - Killeen II NC LLC 18-33985 PM Management - Killeen III NC LLC 18-33986 Alief SCC LLC 18-33987 PM Management - Lewisville NC LLC 18-33988 Bandera SCC LLC 18-33989 PM Management - New Braunfels NC LLC 18-33990 PM Management - Park Valley NC LLC 18-33991 Baytown SCC LLC 18-33992 PM Management - Pflugerville AL LLC 18-33993 PM Management - Portland AL LLC 18-33994 PM Management - Portland NC LLC 18-33995 Beltline SCC LLC 18-33996 PM Management - Round Rock AL LLC 18-33997 PM Management - San Antonio NC LLC 18-33998 Booker SCC LLC 18-33999 Presidential SCC LLC 18-34000 Riverside SCC LLC 18-34001 Round Rock SCC LLC 18-34002 Bossier SCC LLC 18-34003 Bradford SCC LLC 18-34004 Brinker SCC LLC 18-34005 Capitol SCC LLC 18-34006 Rowlett SCC LLC 18-34007 CapWest-Texas LLC 18-34008 Ruston SCC LCC 18-34009 Cedar Bayou SCC LLC 18-34010 RW SCC LLC 18-34011 Clear Brook SCC LLC 18-34012 Sagebrook SCC LLC 18-34013 Colonial SCC LLC 18-34014 San Angelo SCC LLC 18-34015 Corpus Christi SCC LLC 18-34016 Crestwood SCC LLC 18-34017 CTLTC Real Estate, LLC 18-34018 SCC Edinburg LLC 18-34019 Fairpark SCC LLC 18-34020 SCC Hospice Holdco LLC 18-34021 Gamble Hospice Care Central, LLC 18-34022 SCC Senior Care Investments LLC 18-34023 SCC Socorro LLC 18-34024 Gamble Hospice Care Northeast, LLC 18-34025 Senior Care Center Management II LLC 18-34026 Gamble Hospice Care Northwest, LLC 18-34027 Senior Care Center Management LLC 18-34028 Gamble Hospice Care of Cenla, LLC 18-34029 Senior Care Centers Home Health LLC 18-34030 Senior Rehab Solutions LLC 18-34031 Harden HUD Holdco LLC 18-34032 Senior Rehab Solutions North Louisiana LLC 18-34033 Shreveport SCC LLC 18-34034 Harden Non-HUD Holdco LLC 18-34035 Harden Pharmacy LLC 18-34036 Hearthstone SCC LLC 18-34037 Solutions 2 Wellness LLC 18-34038 South Oaks SCC LLC 18-34039 HG SCC LLC 18-34040 Springlake ALF SCC LLC 18-34041 Springlake SCC LLC 18-34042 Hill Country SCC LLC 18-34043 Stonebridge SCC LLC 18-34044 Hunter Pond SCC LLC 18-34045 Jacksonville SCC LLC 18-34046 Summer Regency SCC LLC 18-34047 TRISUN Healthcare LLC 18-34048 La Hacienda SCC LLC 18-34049 Lakepointe SCC LLC 18-34050 Valley Grande SCC LLC 18-34051 Major Timbers LLC 18-34052 Vintage SCC LLC 18-34053 Marlandwood East SCC LLC 18-34054 West Oaks SCC LLC 18-34055 Western Hills SCC LLC 18-34056 Weston Inn SCC LLC 18-34057 Marlandwood West SCC LLC 18-34058 Westover Hills SCC LLC 18-34059 Whitesboro SCC LLC 18-34060 Windcrest SCC LLC 18-34061 Windmill SCC LLC 18-34062 Wurzbach SCC LLC 18-34063 Meadow Creek SCC LLC 18-34064 Midland SCC LLC 18-34065 Mill Forest Road SCC LLC 18-34066 Mullican SCC LLC 18-34067 Mystic Park SCC LLC 18-34068 Normandie SCC LLC 18-34069 Onion Creek SCC LLC 18-34070 Park Bend SCC LLC 18-34071 Pasadena SCC LLC 18-34072 Pecan Tree SCC LLC 18-34073 Pecan Valley SCC LLC 18-34074 Pleasantmanor SCC LLC 18-34075 PM Management - Allen NC LLC 18-34076 PM Management - Babcock NC LLC 18-34077 PM Management - Cedar Park NC LLC 18-34078 PM Management - Corpus Christi NC II LLC 18-34079 PM Management - Corpus Christi NC III LLC 18-34080 PM Management - Corsicana NC II LLC 18-34081 PM Management - Corsicana NC III LLC 18-34082 PM Management - Corsicana NC LLC 18-34083 PM Management - Denison NC LLC 18-34084 PM Management - El Paso I NC LLC 18-34085 PM Management - Fredericksburg NC LLC 18-34086 PM Management - Frisco NC LLC 18-34087 Judge: Hon. Barbara J. Houser Debtors' General Bankruptcy Counsel: Trey A. Monsour, Esq. POLSINELLI PC 2950 N. Harwood, Suite 2100 Dallas, Texas 75201 Tel: (214) 397-0030 Fax: (214) 397-0033 Email: tmonsour@polsinelli.com - and - Jeremy R. Johnson, Esq. POLSINELLI PC 600 3rd Avenue, 42nd Floor New York, New York 10016 Tel: (212) 684-0199 Fax: (212) 684-0197 Email: jeremy.johnson@polsinelli.com Board's Counsel: GRAY ROBINSON, P.A. Debtors' Conflicts Counsel: HUNTON ANDREWS KURTH LLP Debtors' Chief Financial Officer: Venson Wallin BDO USA, LLP Debtors' Notice, Claims, & Balloting Agent and Administrative Advisor: OMNI MANAGEMENT GROUP, INC. https://is.gd/JVBTNd Debtors' Corporate Communications Consultants: SITRICK AND COMPANY Estimated Assets: $100 million to $500 million Estimated Liabilities: $100 million to $500 million The petition was signed by Kevin O'Halloran, chief restructuring officer. A full-text copy of Senior Care Centers, LLC is available at no charge at: http://bankrupt.com/misc/txnb18-33967.pdf Consolidated List of Debtors' 40 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount ------ --------------- ------------ Sabra Health Care Reit, Inc. Rent $31,785,032 353 N Clark, Ste 2900 Chicago, IL 60654 Tel: 888-393-8248 Email: Bchappell@Sabrahealth.Com Bhealey@Sabrahealth.Com Healthcare Services Group Inc. HSG $7,963,956 3220 Tillman Dr Ste 300 Bensalem, PA 19020 Tel: 267-525-8551 Email: Jotoole@Hcsgcorp.Com Omnicare, Inc. Pharmacy $7,040,541 P.O. Box 715276 Columbus, OH 43271-5276 Tel: 480-765-6353 Email: Susan.Vallone@Cvshealth.Com Medline Industries Inc. Trade $3,151,957 Dept 1080 P.O. Box 121080 Dallas, TX 75312-1080 Tel: 800-388-2147 Email: Finance@Medline.Com Recovercare LLC Trade $2,259,824 P.O. Box 936446 Atlanta, GA 31193-6446 Tel: 800-826-0270 Email: Billing@Joernsrecovercare.Com Direct Supply Supplies $1,406,964 P.O. Box 88201 Milwaukee, WI 53288-0201 Tel: 888-433-3224 Schryver Medical Sales And Trade $1,382,300 Marketing, LLC 12075 East 45Th Ave, Suite 600 Denver, CO 80239 Tel: 800-638-3240 Acadian Ambulance Services, Inc. Transport $836,859 P.O. Box 92970 Lafayette, LA 70509 Tel: 800-259-3333 Sedgwick CMS Trade $811,236 175 W. Jackson, Suite 700 Chicago, IL 60604 Tel: 713-914-3238 Specialized Medical Services, Inc. Trade $755,222 7237 Solution Center Chicago, IL 60677-7002 Tel: 800-786-3656 Diagnostic Laboratories & Radiology Trade $536,447 2820 N Ontario St. Burbank, CA 91504-2015 Tel: 818-549-1880 Mobilexusa (DSSI) Trade $477,200 930 Ridgebrook Road 3rd Floor Sparks, MD 21152 Tel: 800-388-2147 Pharmerica Pharmacy $401,318 P.O. Box 409251 Atlanta, GA 30384-9251 Tel: 800-722-3005 Seqirus USA, Inc. Trade $333,126 P.O. Box 934973 3585 Atlanta Ave Hapeville, GA 30354 Tel: 855-358-8966 Email: Usainc.Accountsreceivable@Seqirus.Com Centurylink Telephone $324,315 P.O. Box 52187 Phoenix, AZ 85072-2187 Tel: 865-465-2313 Pointclickcare Technologies, Inc. Trade $305,072 P.O. Box 674802 Detroit, MI 48267-4802 Tel: 800-277-5889 San Antonio North Knoll LLC Rent $276,686 10960 Wilshire Blvd, 5Th Fl Los Angeles, CA 90024 Email: Dbellis@Nksf.Com; Nsm12Lmu@Yahoo.Com; Tokum@Picoainc.Com Hidalgo Healthcare Realty Rent $250,951 5647 New Copeland Rd Tyler, TX 75703 Email: Lparker@Sciconstruction-Tx.Com Cedar Park Healthcare LLC Rent $227,424 21726 Hardy Oak Blvd San Antonio, TX 78258 Email: Jsmithers@Smithersconstruction.Com, Lwhite@Smithersconstruction.Com Performance Food Group - Temple Food $205,982 P.O. Box 951641 Dallas, TX 75395-1641 Tel: 800-375-3606 Belfor Usa Group, Inc. Trade $200,000 4820 Ih 35 North Waco, TX 76705 Tel: 254-799-8400 Email: Lori.Ballard@Us.Belfor.Com GPDP Development Ltd. Rent $189,170 610 Towson Avenue Fort Smith, AR 72901 Email: Jana.Mundy@Gpfsm.Com BKD, LLP Trade $184,535 Attn: Accounts Receivable P.O. Box 1190 Springfield, MO 65801-1190 Tel: 417-866-5822 Email: Bbowmaster@Bkd.Com Century Healthcare LLC Insurance $175,991 CHC Companion P.O. Box 3280 Grapevine, TX 76099-3280 OLP Wyoming Springs LLC Rent $169,370 c/o One Liberty Properties, Inc. 60 Cuttermill Rd, Suite 303 Great Neck, NY 11021 Email: Pchachlani@1Liberty.Com ADP, Inc. Trade $164,817 P.O. Box 842875 Boston, MA 02284-2875 Tel: 800-225-5237 Staples Business Advantage (DSSI) Supplies $153,040 500 Staples Drive Framingham, MA 01702 Tel: 877-826-7755 Email: John.Jones3@Staples.Com Presto-X / Rentokil Sterite Trade $143,727 P.O. Box 13848 Reading, PA 19612 Tel: 877-764-0007 Email: Nationalcollections@Rentokil.Com Colonial Life Accident & Insurance Co Insurance $138,876 Processing Center P.O. Box 1365 Columbia, SC 29202-1365 PC Connection Sales Trade $130,583 Dba Connections P.O. Box 536472 Pittsburgh, PA 15253-5906 Tel: 800-800-0011 GB&P Lubbock Ltd Rent $125,094 610 Towson Avenue Fort Smith, AR 72901 Email: Jana.Mundy@Gpfsm.Com Clinical Resources LLC Contractor $123,787 3338 Peachtree Road, Ne Suite 102 Atlanta, GA 30326 Tel: 404-343-7227 AHS-Medrec, Inc. D/B/A Medrec Trade $118,702 P.O. Box 732800 Dallas, TX 75373-2800 Tel: 888-740-4341 CEU360 Trade $110,792 5048 Tennyson Parkway Suite 200 Plano, TX 75024 Tel: 800-554-2387 HD Supply Facilities Maintenance Trade $103,050 P.O. Box 509058 San Diego, CA 92150-9058 Tel: 800-798-8888 Staples Promotional Products Trade $102,126 Bin #150003 P.O. Box 790322 St. Louis, MO 63179-0322 Tel: 469-262-4548 CNA Deductible Recovery Group Trade $100,000 P.O. Box 6065-02 Hermitage, PA 16148-1068 Tel: 888-999-1365 Ogletree Deakins Trade $98,319 P.O. Box 89 Columbia, SC 29202 Tel: 864-241-1900 Navarro Snf Development, LP Rent $95,839 9840 Jacksboro Hwy Ft. Worth, TX 76135 Email: Mcdonnellconst@Gmail.Com; Mcdonnellbuildersmf@Gmail.Com Trinity Tile And Stone Trade $87,667 3705 Tarragona Lane Austin, TX 78727 SIW HOLDING: Has Until February 28 to Exclusively File Plan ----------------------------------------------------------- The Hon. Christopher S. Sontchi of the U.S. Bankruptcy Court for the District of Delaware, at the behest of SIW Holding Company, Inc., and its debtor-affiliates, has extended the exclusive period in which the Debtors must file and solicit acceptance of their a chapter 11 plan through and including February 28, 2019 and April 29, 2019, respectively. The Troubled Company Reporter has previously reported that the Debtors sought exclusivity extension to allow them sufficient time to perform all requisite tasks so as to obtain the maximum value for the benefit of all of the Debtors' stakeholders. The Debtors sought by motion and the Court has entered an order establishing a general bar date by which proofs of claim held by non-governmental units against the Debtors must have been filed, which passed on September 28, 2018, and a governmental bar date, by which proofs of claims against the Debtors must be filed by governmental units which is set for January 2, 2019. The Debtors are expecting to confirm a plan of liquidation less than three months after the passing of the Governmental Bar Date. The Debtors claimed that any plan of liquidation that they may propose will be based upon the value of the claims that may be filed against the Debtors in advance of the Governmental Bar Date. The Debtors said that the granting of the extensions of the Exclusive Periods will maintain an environment where the Debtors and their creditors can work together toward the common goal of confirming a plan of liquidation. About SIW Holding Company SIW Holding Company, Inc. fka WIS Holding Company and its subsidiaries were in the business of providing outsourced inventory verification services and retail merchandising services throughout the United States and internationally. They provided physical inventory verification for retail customers in order to manage and deter inventory shrinkage and to comply with annual GAAP audit requirements necessitating physical verification. They historically provided those services to a diverse customer base, including large retailers such as Walmart. As of Jan. 1, 2017, the Debtors operated out of 189 offices in 42 U.S. States and nine Canadian provinces. The Debtors closed the sale of substantially all of their assets to Retail Services WIS, Corporation on June 8, 2017. On July 2, 2018, WIS Holding Company, Inc., and certain of its affiliates filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code. The Debtors' bankruptcy cases are jointly administered under Bankr. D. Del. Case No. 18-11579 and are pending before the Honorable Christopher S. Sontchi. The Debtors tapped Potter Anderson & Corroon LLP as counsel; and JND Corporate Restructuring as claims agent. Cohnreznick, LLP, is the tax advisor. SN PROPERTIES: JLL Moves Public Auction to Jan. 8 ------------------------------------------------- Jones Lang LaSalle Americas Inc., on behalf of Colfin SNP Mezz Funding LLC, through its special servicer, Colony Capital AMC Corp Opco LLC, offers for sale at public auction to be held on Jan. 8, 2018, at 10:00 a.m. Eastern Daylight Time, at the offices of Browne George Ross LLP, 5 Penn Plaza 24th Floor, New York, New York, in connection with a Uniform Commercial Code Sale, 100% of the issued and outstanding limited liability company interests in SN Properties Funding IV - Atrium LLC et al., and having their principal places of business c/o Security National Properties Funding IV - Delaware Holdings LLC, 13702 Coursey Boulevard Rouge, Louisiana. As reported by the Troubled Company Reporter on Sept. 28, 2018, the public auction was originally set for Dec. 4, 2018. The interests are owned by Security National Properties Funding IV - Delaware Holdings LLC, Security National Properties Funding IV LLC, Security National Properties Funding V - Delaware Holdings LLC, Security National Properties Funding V LLC, SN Properties Funding V - Bath LLC, SN Properties Funding V - National Oil LLC and SN Properties V - Sunset LLC. Each entity which constitutes the collateral owns 100% of the interests in a commercial property, and collectively they own a group of properties which include shopping malls, office buildings and mobile home parks. All bids must be for cash, and the successful bidder must be prepared to deliver immediately available good funds within 24 hours after the sale and otherwise comply with the bidding requirements. Further information concerning the interests, the requirements for obtaining information and bidding on the interests, qualifications, and the terms of sale can be found at http://www.snpuccforeclosure.com/ Jones Lang LaSalle can be reached at: Brett Rosenberg Vice President Jones Lang LaSalle Americas Inc. 330 Madison Avenue, 4th Floor New York, NY 10017 Tel: +1 212 812 5926 E-mail: brett.rosenberg@am.jll.com SOUTH PLAZA CENTER: Has Until Dec. 14 to Exclusively File Plan -------------------------------------------------------------- The Hon. Catherine Peek McEwen of the U.S. Bankruptcy Court for the Middle District of Florida, at the behest of South Plaza Center Associates, LLC, has extended the exclusivity period to file a chapter 11 plan through Dec. 14, 2018. The Troubled Company Reporter has previously reported that South Plaza sought for a 60-day extension of the exclusive period to propose and present a Plan of Reorganization through and including Jan. 7, 2019. The Debtor claimed that the Plan for Bankruptcy strongly depends on two remaining issues. First, as provided in its Case Management Summary, one of the Debtor's reasons for filing for bankruptcy is (a) to refinance and or renegotiate its current secured liability with the secured lender, U.S. Bank National Association, in its capacity as Trustee for the Registered Holders of LB-UBS Commercial Mortgage Trustee 2007-6 Commercial Mortgage Pass-through Certificates Series 2007-C6 as apparently serviced by LNR Partners, LLC or (b) to sell the property. Since the Petition Date, the Debtor has, in good faith, been actively negotiating with LNR's counsel on a consensual treatment of LNR's claim. The Debtor believed that additional time is needed to allow the parties to reach a favorable resolution to the pending issues. Additionally, the Debtor's tenant, Southeastern Grocers LLC, operates a Winn-Dixie Supermarket Store at the Real Property. Since the Petition Date, the Debtor and Winn-Dixie have been engaged in renegotiating the terms of Winn-Dixie's lease. Currently, the parties are negotiating a Fourth Addendum to the lease which will extend the lease for Winn-Dixie by seven years through 2029. The Debtor has anticipated an increase in the base rent price as Winn-Dixie is also seeking to add a liquor store that will increase its presence at the Real Property by an additional 3,900 square feet. With this addendum of the 127,224 square feet of rental space, the Debtor claims that only 2,500 square feet will be vacant. The Debtor believed that successful negotiations with these two parties will translate into a viable plan which can pay more to unsecured creditors while achieving its goal of restructuring its secured debt. About South Plaza Center Associates South Plaza Center Associates, LLC is a real estate company that owns a property located at 1200-1280 South Broad Street, Brooksville, FL 34601 valued by the company at $6.45 million. 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 had total assets of $6.53 million and total debt of $7.71 million. Jon S. Wheeler, managing member of Debtor's member, signed the petition. Kenneth Ray Noble, Esq., of the Noble Law Firm, P.A., serves as Debtor's counsel; and Pat Yockey and Yockey & Associates is its accountant. SOUTHEASTERN HOSPITALITY: Needs Additional Time for Plan Talks -------------------------------------------------------------- Southeastern Hospitality, LLC, d/b/a The Mercury, asks the United States Bankruptcy Court for the Northern District of Georgia to extend the exclusivity period within which to file a chapter 11 plan of reorganization for an additional 90 days through and including May 13, 2019, as well as its solicitation deadline through and including June 13, 2019. This is the first time that Debtor sought extension of the Exclusivity Periods. The Debtor contends that it is still attempting to negotiate a plan with its major creditors. About Southeastern Hospitality Southeastern Hospitality, LLC, d/b/a The Mercury, is a cocktail-focused, classic American eatery located in Ponce City Market, Atlanta, Georgia. The Mercury sought protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 18-67291) on Oct. 12, 2018. In the petition signed by Earl E. Cloud III, owner, the Debtor estimated assets of less than $50,000 and liabilities of less than $10 million. The Debtor tapped William Anderson Rountree, Esq., of Rountree & Leitman, LLC, as its counsel. No official committee of unsecured creditors has been appointed in the Chapter 11 case. STEELFUSION CLINICAL: U.S. Trustee Unable to Appoint Committee -------------------------------------------------------------- The Office of the U.S. Trustee on Nov. 20 disclosed in a court filing that no official committee of unsecured creditors has been appointed in the Chapter 11 case of SteelFusion Clinical Toxicology Laboratory, LLC. About SteelFusion Clinical Toxicology Laboratory LLC SteelFusion Clinical Toxicology Laboratory, LLC, is a medical laboratory in Monessen, Pennsylvania, that provides forensic and clinical toxicology laboratory services. SteelFusion sought protection under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Pa. Case No. 18-24112) on Oct. 23, 2018. At the time of the filing, the Debtor estimated assets of less than $500,000 and liabilities of $1 million to $10 million. The Debtor tapped Robert H. Slone, Esq., at Mahady & Mahady, as its legal counsel. SYNERGY PARTNERS: U.S. Trustee Unable to Appoint Committee ---------------------------------------------------------- No official committee of unsecured creditors has been appointed in the Chapter 11 cases of Synergy Partners, Inc. and its affiliates as of Nov. 29, according to a court docket. About Synergy Partners Synergy Partners, Inc., based in Goodlettsville, TN, and its affiliates, including DS of Bartlett, PLLC, and Hendersonville Dental Spa, sought Chapter 11 protection (Bankr. M.D. Tenn. Lead Case No. 18-06603) on Oct. 1, 2018. In the petition signed by Lance H. Harrison, DDS, president and chief manager, Synergy Partners estimated up to $50,000 in assets and $500,000 to $1 million in liabilities as of the bankruptcy filing. The Hon. Charles M. Walker presides over the cases. Steven L. Lefkovitz, Esq., at Lefkovitz & Lefkovitz, is the Debtors' bankruptcy counsel to the Debtors. TECTA AMERICA: Moody's Lowers First Lien Debt Rating to B3 ---------------------------------------------------------- Moody's Investors Service affirmed Tecta America Corp's B3 Corporate Family Rating and B3-PD Probability of Default Rating following company's recent announcement that affiliates of Altas Partners, owner of Tecta, are contributing additional equity in the form of common stock instead of issuing originally proposed $100.0 million second-lien term loan, whose Caa2 rating has been withdrawn. In related rating action, Moody's downgraded Tecta's first-lien debt to B3 from B2, since the first-lien debt no longer has more junior obligations that would absorb first-losses in a recovery scenario. Additionally, the first-lien debt now represents the preponderance of debt in Tecta's capital structure, warranting the downgrade. The rating outlook is stable. Tecta's capital structure is only a first-lien bank credit facility, consisting of a $60 million revolving credit facility expiring 2023, of which Moody's expects no borrowings at closing, a $375 million senior secured term loan maturing in 2025, and a small amount of capital leases. The following ratings/assessments are affected by the action: Downgrades: Issuer: Tecta America Corp Gtd. 1st Lien Senior Secured Bank Credit Facility, Downgraded to B3 (LGD3) from B2 (LGD3) Outlook Actions: Issuer: Tecta America Corp Outlook, Remains Stable Affirmations: Issuer: Tecta America Corp Probability of Default Rating, Affirmed B3-PD Corporate Family Rating, Affirmed B3 Withdrawals: Issuer: Tecta America Corp Gtd. 2nd Lien Senior Secured Bank Credit Facility, Withdrawn, previously rated Caa2 (LGD5) RATINGS RATIONALE Tecta's B3 CFR remains appropriate at this time. Because Atlas will contribute more equity than originally intended, Moody's believes that there is a risk of a re-levering event in the future. Also, Moody's view is that Altas is comfortable with Tecta operating with a higher level of adjusted leverage, which Moody's originally projected to be 6.9x at year-end 2019. Moody's is revising its adjusted leverage forecast to 5.7x at year-end 2019 due to lower amount of balance sheet debt. However, Tecta remains highly leveraged. Despite lower debt levels and less cash interest payments, Tecta will generate only nominal adjusted free cash flow-to-debt over the next two years. Moody's projections include modest organic growth, earnings from past acquisitions, term loan amortization only, and standard adjustments. Moody's also assumes partial growth through "bolt-on" acquisitions, financed with proceeds from the term loans, some cash on hand, and potential borrowings under Tecta's new revolving credit facility. Further constraining the ratings is Tecta's small size based on revenues. Tecta's revenue base limits absolute levels of earnings and cash interest payments approaching now $25 million per year, which makes it difficult for the company to generate large amount of free cash flow relative to debt. In an economic downturn, the large amount of debt service would cause a significantly higher portion of earnings to go towards cash interest payments. Tecta's private equity ownership creates risk of sizeable debt-financed acquisitions or dividends, potentially stressing liquidity or credit metrics. Also, the company operates in a competitive industry, which may negatively affect operating performance. Although fundamentals are sound now, US private construction activity is cyclical. This market could contract quickly, negatively impacting Tecta's financial profile. An economic downturn would weaken cash flows and debt service capabilities. Offsetting Tecta's leveraged debt capital structure are expectations of solid operating margins. Moody's forecasts adjusted EBITA margin improving modestly from current performance over the next 12 to 18 months, supporting current ratings and Tecta's greatest credit strength. A solid backlog reinforces growth. Good revolver availability gives Tecta financial flexibility to contend with its leveraged capital structure and to seize growth opportunities. Beyond term loan amortization of $3.75 million per year Tecta has a very extended debt maturity profile. Its revolver expires in 2023, followed by its first-lien term loan in 2025. Tecta's business profile provides relative stability in cyclical end markets. Providing non-residential roofing related replacement, repair and maintenance, from which the company derives about 80% of its revenues and preponderance of earnings and cash flows, are non-discretionary, creating some recurring revenue streams. Another key end market is new non-residential construction. Moody's performance expectations for nonresidential construction consider trends in the American Institute of Architects' Architectural Billings Index, or ABI, a key indicator of architects' expectations for construction projects. The ABI trended down moderately in October to 50.4 from 51.1 in September. Index readings over 50 indicate an aggregate growth in billings. Over the next 12 to 18 months, Moody's anticipates the index will continue to suggest suitable end market demand. The stable rating outlook reflects Moody's expectations that Tecta's credit profile, such as leverage sustained below 7.0x, will remain supportive of its B3 Corporate Family Rating over the next 12 to 18 months. Tecta's ratings could be upgraded if operating performance exceeds Moody's forecasts, with credit metrics such as debt-to-EBITDA sustained below 5.5x, EBITA-to-interest expense sustained above 2.0x (ratios includes Moody's standard adjustments), better liquidity characterized by greater free cash flow generation, and ongoing positive trends in end markets. Negative rating actions could ensue if Tecta's operating performance falls below its expectations, resulting in debt-to-EBITDA sustained above 7.5x, EBITA-to-interest remaining below 1.0x (all ratios incorporate Moody's standard adjustments), deterioration in liquidity, excessive usage of the revolving credit facility, large shareholder distributions, or sizeable debt-financed acquisitions. The principal methodology used in these ratings was Business and Consumer Service Industry published in October 2016. Tecta America Corp., headquartered in Rosemont, IL, provides new and replacement commercial roofs and maintenance services throughout the U.S. Altas Partners, through its affiliates, is the primary owner of Tecta. Revenues for the 12 months through September 30, 2018 approximate $550 million. Tecta is privately-owned and does not disclose publicly available financial information. TERRAVISTA PARTNERS: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------------------ Debtor: Terravista Partners - Hidden Village, Ltd. dba Hidden Village Apartments dba Hidden Village Apartment Homes 3306 Roselawn Rd. San Antonio, TX 78226 Business Description: Terravista Partners - Hidden Village, Ltd. is a real estate lessor headquartered in San Antonio, Texas. Chapter 11 Petition Date: December 4, 2018 Court: United States Bankruptcy Court Western District of Texas (San Antonio) Case No.: 18-52901 Judge: Hon. Craig A. Gargotta Debtor's Counsel: William B. Kingman, Esq. LAW OFFICES OF WILLIAM B. KINGMAN, PC 3511 Broadway San Antonio, TX 78209 Tel: (210) 829-1199 Email: bkingman@kingmanlaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Philip W. Stewart, president of Terravista - Hidden Village Corporation. A full-text copy of the petition containing, among other items, a list of the Debtor's 20 largest unsecured creditors is available for free at: http://bankrupt.com/misc/txwb18-52901.pdf TREATMENT CENTER: Wants to Preserve Exclusivity Through Feb. 15 --------------------------------------------------------------- The Treatment Center of the Palm Beaches, LLC request the U.S. Bankruptcy Court for the Southern District of Florida to extend exclusivity period within which to solicit acceptances to its plan for sixty days through and including Feb. 15, 2019, without prejudice to seeking further extensions in the event circumstances require it. The Debtor filed its Plan of Liquidation and Disclosure Statement on Oct. 16, 2018 and the hearing is set for approval of the Disclosure Statement on Dec. 12, 2018. The Debtor and creditors, William Russell, Todd Branstetter, Barry Laramee, and Kathleen D. Chernak, are engaging in settlement discussions and a meeting is scheduled for November 27, 2018. The Debtor contends that the outcome of these settlement negotiations could resolve, or significantly impact the structure of its pending Disclosure Statement and Plan which may require amendments. Therefore, this Motion is being filed in order to preserve the Debtor’s rights as to exclusivity to solicit acceptances of the Plan. About The Treatment Center of The Palm Beaches The Treatment Center of the Palm Beaches, LLC, located in West Palm Beach, Florida -- https://www.thetreatmentcenter.com/ -- is an addiction treatment center. Since 2009, Treatment Center has offered custom treatment programs for drugs, alcohol, trauma, mental health, and other addictions. The Treatment Center of the Palm Beaches filed a Chapter 11 petition (Bankr. S.D. Fla. Case No. 18-14622) on April 19, 2018. In the petition signed by Judi Gargiulo, manager, the Debtor disclosed $11.07 million in total assets and $6.12 million in total liabilities. The case is assigned to Judge Erik P. Kimball. Robert C. Furr, Esq., at Furr & Cohen, is the Debtor's bankruptcy counsel. The court approved the sale of substantially all of the Debtor's assets to Palm Beach Recovery Center, LLC on Sept. 7, 2018. On October 16, 2018, the Debtor filed its Chapter 11 plan and disclosure statement. WESTMORELAND COAL: Claims Filing Deadline Set for Dec. 12 --------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Texas set Dec. 12, 2018, at 5:00 p.m. (Prevailing Central Time) as last date and time for persons and entities to file proofs of claim against Westmoreland Coal Company and its debtor-affiliates. The Court also set April 8, 2018, at 5:00 p.m. (Prevailing Central Time) as deadline for governmental units to file their claims against the Debtors. Each proof of claim must be filed, including supporting documentation so as to be actually received by either the Clerk of the Court or the Debtors' claims agent, Donlin Recano & Company Inc. as follows: I) if to the Clerk of the Court, by electronic submission through Public Access to Court Electronic Records at https://ecf.txsb.uscourts.gov; or if submitted through non electronic means, by U.S. mail or other hand delivery system at: Clerk of the Court U.S. Bankruptcy Court 515 Rusk Street, #5300 Houston, Texas 77002 Correspondence: David J. Bradley Clerk of Court P.O. Box 61010 Houston, Texas 77208 -- or -- II) if to Donlin Recano, by electronic submission through interface available at https://www.donlinrecano.com/clients/wcc/static/POC or email, or if submitted at: a) if sent by mail, send to: Donlin Recano & Company Inc. Re: Westmoreland Coal Company et al. P.O. Box 199043 Blythebourne Station Brooklyn, NY 11219 b) if sent by overnight courier or hand delivery, send to: Donlin Recano & Company Inc. Re: Westmoreland Coal Company et al. 6201 15th Avenue Brooklyn, NY 11219 c) if by mail, send to claims@donlinrecano.com Further information regarding the claims process, contact the Debtors' restructuring hotline at (800) 499-8519 (toll free) or (212) 771-1128 (international); or visit the Debtors' restructuring website at https://www.donlinrecano.com/westmoreland. About Westmoreland Coal Company Based in Englewood, Colorado, Westmoreland Coal Company (otcmkts:WLBA) -- http://www.westmoreland.com/-- is an independent coal company based in the United States. The Company produces and sells thermal coal primarily to investment grade utility customers under long-term, cost-protected contracts. Its focus is primarily on mine locations which allow it to employ dragline surface mining methods and take advantage of close customer proximity through mine-mouth power plants and strategically located rail transportation. At Dec. 31, 2017, the Company's U.S. coal operations were located in Montana, Wyoming, North Dakota, Texas, New Mexico and Ohio, and its Canadian coal operations were located in Alberta and Saskatchewan. The Company sold 49.7 million tons of coal in 2017. Westmoreland Coal reported a net loss applicable to common shareholders of $71.34 million for the year ended Dec. 31, 2017, a net loss applicable to common shareholders of $27.10 million for the year ended Dec. 31, 2016, and a net loss applicable to common stockholders of $213.6 million for the year ended Dec. 31, 2015. As of June 30, 2018, the Company had $1.45 billion in total assets, $2.14 billion in total liabilities and a total deficit of $686.2 million. Westmoreland Coal Company and 36 affiliates filed voluntary Chapter 11 petition (Bankr. S.D. Tex., Case No. 18-35672) on October 9, 2018. The Debtors tapped Jackson Walker LLP and Kirkland & Ellis LLP and Kirkland & Ellis International LLP as their legal counsel; Centerview Partners LLC as financial advisor; Alvarez & Marsal North America, LLC as restructuring advisor; PricewaterhouseCoopers LLP as consultant; and Donlin, Recano & Company, Inc. as notice and claims agent. The Office of the U.S. Trustee appointed an official committee of unsecured creditors on Oct. 19, 2018. The Committee tapped Morrison & Foerster LLP and Cole Schotz P.C. as its legal counsel. WJA ASSET: $1.1M Sale of TD REO's Temecula Property to Wolfe Okayed ------------------------------------------------------------------- Judge Scott C. Clarkson of the U.S. Bankruptcy Court for the Central District of California authorized TD REO Fund, LLC, an affiliate of WJA Asset Management, LLC, to sell the real property located at 45610 Corte Vista Clara, Temecula, California, as per map recorded in Book 4, pages 74 and 75 of Maps, in the office of the County Recorder of said County, to Wolfe Capital Investments, LLC, for $1.1 million. A hearing on the Motion was held on Nov. 28, 2018 at 11:00 a.m. The sale is "as is, where is," without representations or warranties, free and clear of any and all liens and interests. The Debtor is authorized to pay (i) the Water Lien and the Property Taxes, as well as the Estate's pro rata share of real property taxes, in full; (ii) the Broker's commission and ordinary costs of sale of the Property; and (iii) the Citivest Fee, from the proceeds of sale without further order of the Court. The overbid procedures outlined in the Motion are approved. Any requirements for lodging periods of the order approving the Motion imposed by Local Bankruptcy Rule 9021-1 and any other applicable bankruptcy rules are waived. The stay of the order approving the Motion imposed by Federal Rule of Bankruptcy Procedure 6004(h) and any other applicable bankruptcy rules are waived. About WJA Asset Management Luxury Asset Purchasing International, LLC, et al., are part of a network of entities or "Funds" formed to offer a range of investment opportunities to individuals. Many of the existing funds are performing and some Funds had substantial gains. However, certain Funds, i.e., those invested in private trust deeds s0ecured by real estate, suffered losses. William Jordan Investments, Inc. ("Advisor"), is a registered investment advisor. Laguna Hills, California-based WJA Asset Management, LLC ("Manager"), is the managing member of Luxury, et al. William Jordan was the president and sole owner of Advisor and was the sole member and manager of Manager. On May 18, 2017, Luxury and its affiliates filed voluntary petitions under Chapter 11 of the United States Bankruptcy Code. On May 25, 2017, four other affiliated filed voluntary Chapter 11 petitions. On June 6, 2017, CA Real Estate Opportunity Fund III filed its Chapter 11 petition. The Debtors' cases are jointly administered under Bankr. C.D. Cal. Lead Case No. 17-11996, and the Debtors continue to operate their businesses and manage their affairs as DIP. Pursuant to court orders, Howard Grobstein is now serving as the chief restructuring officer of the Debtors and Mr. Jordan no longer has any ongoing role in the Debtors' operations. At the time of the filing, WJA estimated assets of less than $500,000 and liabilities of $1 million to $10 million. Judge Scott C. Clarkson presides over the cases. Lei Lei Wang Ekvall, Esq., Philip E. Strok, Esq., Robert S. Marticello, Esq., and Michael L. Simon, Esq., at Smiley Wang-Ekvall, LLP, serve as counsel to the Debtors. Ann Moore of Norton Moore Adams has been tapped as special counsel. Elite Properties Realty is the broker. [*] Gordon Brothers CEO Kenneth Frieze Inducted ----------------------------------------------- The American College of Bankruptcy on Nov. 29 disclosed that Kenneth Frieze, Chief Executive Officer of Gordon Brothers, will be inducted as a Fellow of the College on March 15, 2019 in Coronado, California. The College will induct 36 nominees joining 900 Fellows, each selected by a Board of Regents among recommendations of the Circuit Admissions Council in each federal judicial circuit and specially appointed Committees for Judicial and International Fellows. Nominees are recognized for their professional excellence and exceptional contributions to the fields of bankruptcy and insolvency within the U.S. and internationally. They undergo a rigorous nomination process and are extended an invitation to join based on a record of achievement reflecting the highest standards of professionalism, ethics, character, integrity, professional expertise and leadership. The induction ceremony will be presided over by Marc A. Levinson, Chair of the College. Mr. Frieze has over 25 years of experience in the fields of restructuring, advisory and asset disposition. For the past 15 years he has served in executive positions at Gordon Brothers, including most recently as Chief Executive Officer. Prior to his experience at Gordon Brothers, Mr. Frieze held senior positions at RetailExchange.com, Bain & Company and TRG (now Deloitte CRG). Frieze will join Gordon Brothers colleagues Sheila Smith and Mitchell Cohen as Fellows of the American College of Bankruptcy. "We're thrilled to welcome Ken as a fellow member of the college," stated Sheila Smith, Advisor at Gordon Brothers. "It has been a pleasure to work with Ken and very satisfying to see his leadership recognized with this appointment. It is well-earned," she added. Appointment to the college recognizes contributions to the enhancement of bankruptcy and insolvency law and practice; sustained evidence of scholarship, teaching, lecturing or writing on bankruptcy or insolvency; community service; and commitment to elevating knowledge and understanding of the profession and public respect for the practice. "I am honored and humbled to join my many distinguished colleagues in the field as a Fellow of the American College of Bankruptcy," said Mr. Frieze. "I am grateful to these professionals who I've had the privilege to work with and learn from throughout my career for their support. I look forward to our continued advancement of the industry." Under Mr. Frieze's leadership of Gordon Brothers, the firm has undertaken many of its most notable and successful transactions across retail, commercial & industrial, real estate and brands. He also presided over the acquisition of AccuVal in 2015 and the firm's global expansion, now with operations in North America, Europe, Japan, Australia and South America. Mr. Frieze served as a trustee of the Turnaround Management Association for six years and authored numerous published articles in industry journals, including the Journal of Corporate Renewal, where he served on the editorial advisory board for two years. Mr. Frieze holds a BA from Lehigh University and an MBA from the Wharton School of the University of Pennsylvania. In addition to many other philanthropic activities, he is a Founder of the Boston Corporate Finance Community's Gathers to Give Back event. He also serves on the board of the American Jewish World Service and was a member of the Young Presidents' Organization. About Gordon Brothers Since 1903, Gordon Brothers -- http://www.gordonbrothers.com-- has helped lenders, operating executives, advisors, and investors move forward through change. The firm brings a powerful combination of expertise and capital to clients, developing customized solutions on an integrated or standalone basis across four service areas: valuations, dispositions, operations, and investments. Whether to fuel growth or facilitate strategic consolidation, Gordon Brothers partners with companies in the retail, commercial, and industrial sectors to put assets to their highest and best use. Gordon Brothers conducts more than $70 billion worth of dispositions and appraisals annually. Gordon Brothers is headquartered in Boston, with 25 offices across five continents. About The American College of Bankruptcy The American College of Bankruptcy is an honorary professional and educational association of bankruptcy and insolvency professionals. The College plays an important role in sustaining professional excellence and supports educational and pro bono efforts in local communities around the country. College Fellows include commercial and consumer bankruptcy attorneys, judges, insolvency accountants, turnaround and workout specialists, law professors, government officials and others involved in the bankruptcy and insolvency community. The College now has 900 Fellows, each selected by a Board of Regents from among recommendations of the Circuit Admissions Council in each federal judicial circuit and specially appointed Committees for Judicial and International Fellows. [^] Recent Small-Dollar & Individual Chapter 11 Filings ------------------------------------------------------- In re Ada Mae Luff Living Trust Bankr. D. Ariz. Case No. 18-13997 Chapter 11 Petition filed November 14, 2018 represented by: Richard R. Luff, Jr., Esq. LAW OFFICE OF RICHARD LUFF, PLLC E-mail: Dick.Luff@azbestdefense.net In re Book Boutique Bankr. N.D. Ga. Case No. 18-69193 Chapter 11 Petition filed November 14, 2018 Filed Pro Se In re Hosner Holdings, Inc. Bankr. E.D. Mich. Case No. 18-55404 Chapter 11 Petition filed November 14, 2018 See http://bankrupt.com/misc/mieb18-55404.pdf represented by: Ethan D. Dunn, Esq. MAXWELL DUNN, PLC E-mail: bankruptcy@maxwelldunnlaw.com In re Gerard Rem Bankr. S.D.N.Y. Case No. 18-13540 Chapter 11 Petition filed November 14, 2018 Filed Pro Se In re ANK Properties, Inc. Bankr. W.D. Tenn. Case No. 18-29511 Chapter 11 Petition filed November 14, 2018 See http://bankrupt.com/misc/tnwb18-29511.pdf represented by: Ted I. Jones, Esq. JONES & GARRETT LAW FIRM E-mail: dtedijones@aol.com In re Anew Health Care, Inc. Bankr. W.D. Tex. Case No. 18-52711 Chapter 11 Petition filed November 14, 2018 See http://bankrupt.com/misc/txwb18-52711.pdf represented by: David T. Cain, Esq. LAW OFFICE OF DAVID T. CAIN E-mail: caindt@swbell.net In re The Murray Group, Inc. Bankr. N.D. Ill. Case No. 18-32156 Chapter 11 Petition filed November 15, 2018 See http://bankrupt.com/misc/ilnb18-32156.pdf represented by: David P. Lloyd, Esq. DAVID P. LLOYD, LTD. E-mail: courtdocs@davidlloydlaw.com In re 957 East 49 St Corp Bankr. E.D.N.Y. Case No. 18-77695 Chapter 11 Petition filed November 15, 2018 Filed Pro Se In re FAMP sp Z.O.O. Bankr. S.D.N.Y. Case No. 18-36920 Chapter 11 Petition filed November 15, 2018 See http://bankrupt.com/misc/nysb18-36920.pdf represented by: Raymond P. Raiche, Esq. BLUSTEIN SHAPIRO RICH & BARONE, LLP E-mail: rraiche@mid-hudsonlaw.com In re Mariner Chiropractic Bankr. W.D. Wash. Case No. 18-14392 Chapter 11 Petition filed November 15, 2018 See http://bankrupt.com/misc/wawb18-14392.pdf represented by: David Carl Hill, Esq. LAW OFFICE OF DAVID CARL HILL E-mail: bankruptcy@hilllaw.com In re Tandem, A Wine & Cheese Bar LLC Bankr. W.D. Wash. Case No. 18-14412 Chapter 11 Petition filed November 15, 2018 See http://bankrupt.com/misc/wawb18-14412.pdf represented by: Larry B. Feinstein, Esq. E-mail: feinstein1947@gmail.com In re Elizabeth Y. Zaharian Bankr. C.D. Cal. Case No. 18-12785 Chapter 11 Petition filed November 16, 2018 represented by: Raymond H. Aver, Esq. LAW OFFICES OF RAYMOND H. AVER E-mail: ray@averlaw.com In re Jens Christian Jensen Bankr. N.D. Cal. Case No. 18-42697 Chapter 11 Petition filed November 16, 2018 represented by: Thomas O. Gillis, Esq. LAW OFFICES OF THOMAS O. GILLIS E-mail: nancy_gillis@sbcglobal.net In re Wing Palace LLC Bankr. M.D. Fla. Case No. 18-04041 Chapter 11 Petition filed November 16, 2018 See http://bankrupt.com/misc/flmb18-04041.pdf represented by: Thomas C Adam, Esq. ADAM LAW GROUP, P.A. E-mail: tadam@adamlawgroup.com In re John A Revilla Bankr. M.D. Fla. Case No. 18-09879 Chapter 11 Petition filed November 16, 2018 represented by: Buddy D Ford, Esq. BUDDY D. FORD, P.A. E-mail: Buddy@TampaEsq.com In re Joseph's Transportation, Inc. Bankr. D. Mass. Case No. 18-14282 Chapter 11 Petition filed November 16, 2018 See http://bankrupt.com/misc/mab18-14282.pdf represented by: Gary W. Cruickshank, Esq. LAW OFFICE OF GARY W. CRUICKSHANK E-mail: gwc@cruickshank-law.com In re Hardline Heavy Haul LLC Bankr. E.D. Mich. Case No. 18-22193 Chapter 11 Petition filed November 16, 2018 See http://bankrupt.com/misc/mieb18-22193.pdf represented by: J. Joseph Purtell, Esq. BIRCHLER, FITZHUGH, PURTELL & BRISSETTE PLC E-mail: jjpurtell@lpsmlaw.com In re Quality Cool & Heat, Inc. Bankr. E.D.N.Y. Case No. 18-46657 Chapter 11 Petition filed November 16, 2018 See http://bankrupt.com/misc/nyeb18-46657.pdf represented by: Jay Meyers, Esq. MEYERS & BONOMO, ESQS. E-mail: sibankruptcylawyer@gmail.com In re Dale F. Beaver Bankr. W.D.N.Y. Case No. 18-12413 Chapter 11 Petition filed November 16, 2018 represented by: Garry M. Graber, Esq. HODGSON, RUSS E-mail: ggraber@hodgsonruss.com In re Best Sales Corporation Bankr. M.D. Tenn. Case No. 18-07708 Chapter 11 Petition filed November 16, 2018 See http://bankrupt.com/misc/tnmb18-07708.pdf represented by: Steven L. Lefkovitz, Esq. LAW OFFICES LEFKOVITZ & LEFKOVITZ E-mail: slefkovitz@lefkovitz.com In re William Barrier Roberts Bankr. N.D. Ala. Case No. 18-83442 Chapter 11 Petition filed November 16, 2018 represented by: Stuart M Maples, Esq. MAPLES LAW FIRM, PC E-mail: smaples@mapleslawfirmpc.com In re Super Fit Hawaii, LLC Bankr. D. Haw. Case No. 18-01338 Chapter 11 Petition filed November 16, 2018 See http://bankrupt.com/misc/hib18-01338.pdf represented by: Kira M. Kawakami, Esq. CLAY CHAPMAN IWAMURA PULICE & NERVELL E-mail: kkawakami@paclawteam.com In re Okura Enterprise LLC Bankr. S.D.N.Y. Case No. 18-23784 Chapter 11 Petition filed November 16, 2018 See http://bankrupt.com/misc/nysb18-23784.pdf represented by: Dawn Kirby, Esq. DELBELLO DONNELLAN WEINGARTEN WISE & WIEDERKEHR, LLP E-mail: dkirby@ddw-law.com In re Chattanooga Bible Way Church Bankr. E.D. Tenn. Case No. 18-15262 Chapter 11 Petition filed November 16, 2018 See http://bankrupt.com/misc/tneb18-15262.pdf represented by: W. Thomas Bible, Jr., Esq. TOM BIBLE LAW E-mail: wtbibleecf@gmail.com In re Desert Fairways 30, LLC Bankr. C.D. Cal. Case No. 18-12811 Chapter 11 Petition filed November 19, 2018 See http://bankrupt.com/misc/cacb18-12811.pdf represented by: Stephen Parry, Esq. LAW OFFICES OF STEPHEN PARRY E-mail: parryzwun@yahoo.com In re Linda Rene Basquez Bankr. C.D. Cal. Case No. 18-19790 Chapter 11 Petition filed November 19, 2018 represented by: Robert B. Rosenstein, Esq. ROSENSTEIN & ASSOCIATES E-mail: robert@thetemeculalawfirm.com In re Bier International, LLC Bankr. S.D.N.Y. Case No. 18-13582 Chapter 11 Petition filed November 19, 2018 See LINK http://bankrupt.com/misc/nysb18-13582.pdf represented by: Lawrence Morrison, Esq. MORRISON TENENBAUM, PLLC E-mail: lmorrison@m-t-law.com In re Igor Lopatonok Bankr. C.D. Cal. Case No. 18-11929 Chapter 11 Petition filed November 19, 2018 represented by: Daren M Schlecter, Esq. LAW OFFICE OF DAREN M SCHLECTER E-mail: daren@schlecterlaw.com In re Kevork Sarkisian Bankr. C.D. Cal. Case No. 18-23587 Chapter 11 Petition filed November 20, 2018 represented by: Dana M. Douglas, Esq. E-mail: dmddouglas@hotmail.com In re Ven Graff Bankr. D. Del. Case No. 18-12649 Chapter 11 Petition filed November 20, 2018 Filed Pro Se In re Kathleen Fritz Campbell Bankr. W.D. Ky. Case No. 18-33552 Chapter 11 Petition filed November 20, 2018 represented by: Michael W. McClain, Esq. MCCLAIN DEWEES, PLLC E-mail: mmcclain@mcclaindewees.com In re Rex Printing Company Bankr. E.D. Mich. Case No. 18-55671 Chapter 11 Petition filed November 20, 2018 See http://bankrupt.com/misc/mieb18-55671.pdf represented by: Jay S. Kalish, Esq. JAY S. KALISH & ASSOCIATES, P.C. E-mail: JSKalish@aol.com In re Jose Gilberto Maldonado Malave Bankr. D.P.R. Case No. 18-06765 Chapter 11 Petition filed November 20, 2018 represented by: Roxanne Marquez, Esq. CUMBAS & MARQUEZ LAW OFFICE E-mail: cumbasymarquez@yahoo.com In re John B. Cox Bankr. N.D. Ga. Case No. 18-12424 Chapter 11 Petition filed November 21, 2018 represented by: David L. Bury, Jr., Esq. STONE & BAXTER, LLP E-mail: dbury@stoneandbaxter.com In re Balasubramaniam Jayaram Harid Bankr. S.D.N.Y. Case No. 18-13632 Chapter 11 Petition filed November 21, 2018 represented by: Stephen Z. Starr, Esq. STARR & STARR, PLLC E-mail: sstarr@starrandstarr.com In re ORSE, LLC Bankr. N.D. Tex. Case No. 18-33804 Chapter 11 Petition filed November 21, 2018 See http://bankrupt.com/misc/txnb18-33804.pdf represented by: Eric A. Liepins, Esq. ERIC A. LIEPINS, P.C. E-mail: eric@ealpc.com In re Turnpike Restaurant Corp. Bankr. S.D.N.Y. Case No. 18-23805 Chapter 11 Petition filed November 23, 2018 See http://bankrupt.com/misc/nysb18-23805.pdf represented by: Lawrence Morrison, Esq. MORRISON TENENBAUM, PLLC E-mail: lmorrison@m-t-law.com In re Pedro Antonio De La Flor-Vargas Bankr. D.P.R. Case No. 18-06803 Chapter 11 Petition filed November 23, 2018 represented by: Hector Eduardo Pedrosa, Esq. E-mail: hectorpedrosa@gmail.com In re Brian Charles Benson and Angela Denay Benson Bankr. D. Ariz. Case No. 18-14289 Chapter 11 Petition filed November 21, 2018 represented by: M. Preston Gardner, Esq. DAVIS MILES MCGUIRE GARDNER PLLC E-mail: pgardner@davismiles.com In re Stephen L. Jernigan Bankr. N.D. Fla. Case No. 18-31084 Chapter 11 Petition filed November 21, 2018 represented by: Jodi Daniel Dubose, Esq. STICHTER RIEDEL BLAIN & POSTLER, P.A. E-mail: jdubose@srbp.com In re Lilo N. Benzicron Bankr. S.D. Ga. Case No. 18-11661 Chapter 11 Petition filed November 21, 2018 represented by: James C. Overstreet, Jr., Esq. KLOSINSKI OVERSTREET, LLP E-mail: jco@klosinski.com In re Allen Rothpearl Bankr. E.D.N.Y. Case No. 18-77855 Chapter 11 Petition filed November 21, 2018 represented by: Sanford P. Rosen, Esq. ROSEN & ASSOCIATES, P.C. E-mail: srosen@rosenpc.com In re Andrew Clemons Tompkins Bankr. M.D. Tenn. Case No. 18-07855 Chapter 11 Petition filed November 23, 2018 represented by: Steven L. Lefkovitz, Esq. LAW OFFICES LEFKOVITZ & LEFKOVITZ E-mail: slefkovitz@lefkovitz.com In re Spiderman Scott Mulholland and Tina Marie Foley Mulholland Bankr. M.D. Fla. Case No. 18-04096 Chapter 11 Petition filed November 24, 2018 represented by: Seldon J. Childers, Esq. CHILDERSLAW LLC E-mail: jchilders@smartbizlaw.com In re Quintin G. Macdonald Bankr. M.D. Tenn. Case No. 18-07858 Chapter 11 Petition filed November 24, 2018 represented by: Griffin S. Dunham, Esq. DUNHAM HILDEBRAND, PLLC E-mail: griffin@dhnashville.com In re Bruce Brisson and Kathy L. Brisson Bankr. E.D. Cal. Case No. 18-27366 Chapter 11 Petition filed November 25, 2018 represented by: Stephen M. Reynolds, Esq. In re Little Hearts Daycare Center Inc. Bankr. E.D.N.Y. Case No. 18-46716 Chapter 11 Petition filed November 25, 2018 See http://bankrupt.com/misc/nyeb18-46716.pdf represented by: Rachel S. Blumenfeld, Esq. Law Office of Rachel S. Blumenfeld E-mail: rblmnf@aol.com In re Linda S. Barbera Bankr. E.D. Pa. Case No. 18-17739 Chapter 11 Petition filed November 25, 2018 represented by: Timothy Zearfoss, Esq. LAW OFFICE OF TIMOTHY ZEARFOSS E-mail: tzearfoss@aol.com In re Carlos Miguel Aponte Nieves and Julia Nereida Vega Santiago Bankr. D.P.R. Case No. 18-06806 Chapter 11 Petition filed November 25, 2018 represented by: Antonio I. Hernandez Santiago, Esq. ANTONIO I. HERNANDEZ SANTIAGO LAW OFFICE E-mail: ahernandezlaw@yahoo.com In re Huffermen, Inc. Bankr. D. Ariz. Case No. 18-14369 Chapter 11 Petition filed November 26, 2018 See http://bankrupt.com/misc/azb18-14369.pdf represented by: Patrick F. Keery, Esq. KEERY MCCUE, PLLC E-mail: pfk@keerymccue.com In re El Gramo LLC Bankr. C.D. Cal. Case No. 18-11957 Chapter 11 Petition filed November 26, 2018 See http://bankrupt.com/misc/cacb18-11957.pdf represented by: R. Grace Rodriguez, Esq. LAW OFFICES OF R. GRACE RODRIGUEZ E-mail: ecf2@lorgr.com In re Rofel Grace Moreno and Joseph Valdez Bankr. N.D. Cal. Case No. 18-42758 Chapter 11 Petition filed November 26, 2018 represented by: Nancy Weng, Esq. FARSAD LAW OFFICE, P.C. E-mail: FarsadECF@gmail.com In re Cobb Beauty College, Inc. Bankr. N.D. Ga. Case No. 18-69730 Chapter 11 Petition filed November 26, 2018 See http://bankrupt.com/misc/ganb18-69730.pdf represented by: Leslie M. Pineyro, Esq. JONES AND WALDEN, LLC E-mail: lpineyro@joneswalden.com In re First Corinthians 3:10 Custom Builders and Cement Works, Inc. Bankr. C.D. Ill. Case No. 18-91178 Chapter 11 Petition filed November 26, 2018 See http://bankrupt.com/misc/ilcb18-91178.pdf represented by: Brian Hiatt, Esq. E-mail: brian@brianhiattlaw.com In re 4 Brothers Auto Sales, Inc. Bankr. N.D. Ill. Case No. 18-32795 Chapter 11 Petition filed November 26, 2018 See http://bankrupt.com/misc/ilnb18-32795.pdf represented by: Nicholas C Kefalos, Esq. VERNOR MORAN LLC E-mail: nkefalos@vernormoran.com In re Patrick Florival Bankr. D.N.J. Case No. 18-33103 Chapter 11 Petition filed November 26, 2018 represented by: Joseph Casello, Esq. COLLINS, VELLA & CASELLO E-mail: jcasello@cvclaw.net In re Michael John Eager and Kelly Dawn Eager Bankr. D.N.J. Case No. 18-33203 Chapter 11 Petition filed November 26, 2018 represented by: Thaddeus R. Maciag, Esq. MACIAG LAW, LLC E-mail: MaciagLaw1@aol.com In re Creative Learning Systems LLC Bankr. S.D.N.Y. Case No. 18-23814 Chapter 11 Petition filed November 26, 2018 See http://bankrupt.com/misc/nysb18-23814.pdf represented by: Rick Cowle, Esq. THE LAW OFFICE OF RICK S. COWLE P.C. E-mail: RCowlelaw@comcast.net In re Miami Valley Indoor Golf LTD. Bankr. S.D. Ohio Case No. 18-33575 Chapter 11 Petition filed November 26, 2018 See http://bankrupt.com/misc/ohsb18-33575.pdf represented by: Denis E. Blasius, Esq. LAW OFFICES OF IRA H. THOMSEN E-mail: dblasius@ihtlaw.com In re Ronnie David Easter Bankr. W.D. Okla. Case No. 18-14884 Chapter 11 Petition filed November 26, 2018 represented by: Gary L. Morrissey, Esq. E-mail: g.morrissey@yahoo.com In re Anthony John O'Reilly Bankr. W.D. Pa. Case No. 18-24564 Chapter 11 Petition filed November 26, 2018 See http://bankrupt.com/misc/pawb18-24564.pdf represented by: Gary M. Sanderson, Esq. MEYER, UNKOVIC & SCOTT, LLP E-mail: gms@muslaw.com In re Christopher Roberts Kelly Bankr. M.D. Tenn. Case No. 18-07868 Chapter 11 Petition filed November 26, 2018 represented by: Steven L. Lefkovitz, Esq. LAW OFFICES LEFKOVITZ & LEFKOVITZ E-mail: slefkovitz@lefkovitz.com In re David Laureano Santiago and Yomarie Tanon Diaz Bankr. D.P.R. Case No. 18-06831 Chapter 11 Petition filed November 26, 2018 represented by: Jaime Rodriguez Perez, Esq. E-mail: jrpcourtdocuments@gmail.com In re What's Your Sign, Inc. Bankr. W.D. Wash. Case No. 18-43948 Chapter 11 Petition filed November 26, 2018 See http://bankrupt.com/misc/wawb18-43948.pdf represented by: Tuella O Sykes, Esq. LAW OFFICES OF TUELLA O. SYKES E-mail: TOS@tuellasykeslaw.com In re BG Capital Management South Florida, LLC Bankr. S.D. Fla. Case No. 18-24677 Chapter 11 Petition filed November 27, 2018 See http://bankrupt.com/misc/flsb18-24677.pdf represented by: Chad T. Van Horn, Esq. VAN HORN LAW GROUP, P.A. E-mail: Chad@cvhlawgroup.com In re Toto Beach, Inc. Bankr. S.D. Fla. Case No. 18-24752 Chapter 11 Petition filed November 27, 2018 See http://bankrupt.com/misc/flsb18-24752.pdf represented by: Adam I. Skolnik, Esq. LAW OFFICE OF ADAM I. SKOLNIK, P.A. E-mail: askolnik@skolniklawpa.com In re L.E. Dietrich, Inc. Bankr. N.D. Ind. Case No. 18-12265 Chapter 11 Petition filed November 27, 2018 See http://bankrupt.com/misc/innb18-12265.pdf represented by: Daniel J. Skekloff, Esq. HALLER & COLVIN, PC E-mail: dskekloff@hallercolvin.com In re Stonegate Landing LLC Bankr. D. Mass. Case No. 18-14383 Chapter 11 Petition filed November 27, 2018 See http://bankrupt.com/misc/mab18-14383.pdf represented by: Nina M. Parker, Esq. PARKER & ASSOCIATES E-mail: nparker@ninaparker.com In re 51 Nottingham St LLC Bankr. D. Mass. Case No. 18-42179 Chapter 11 Petition filed November 27, 2018 See http://bankrupt.com/misc/mab18-42179.pdf represented by: Gregory D. Oberhauser, Esq. LAW OFFICE OF GREGORY D. OBERHAUSER E-mail: gregory@oberhauserlaw.com In re Pyratech Security Systems, Inc. Bankr. E.D. Mich. Case No. 18-55926 Chapter 11 Petition filed November 27, 2018 See http://bankrupt.com/misc/mieb18-55926.pdf represented by: Ethan D. Dunn, Esq. MAXWELL DUNN, PLC E-mail: bankruptcy@maxwelldunnlaw.com In re Showtime Express Bankr. D.N.J. Case No. 18-33292 Chapter 11 Petition filed November 27, 2018 See http://bankrupt.com/misc/njb18-33292.pdf Filed Pro Se In re Martin Alan Burke Bankr. E.D. Va. Case No. 18-13979 Chapter 11 Petition filed November 27, 2018 represented by: Daniel M. Press, Esq. CHUNG & PRESS, P.C. E-mail: dpress@chung-press.com In re Arizona Southwest Patrol, LLC Bankr. D. Ariz. Case No. 18-14462 Chapter 11 Petition filed November 28, 2018 See http://bankrupt.com/misc/azb18-14462.pdf represented by: Thomas Allen, Esq. ALLEN BARNES & JONES, PLC E-mail: tallen@allenbarneslaw.com In re Wilbanks Associates, LLC Bankr. N.D. Ga. Case No. 18-69892 Chapter 11 Petition filed November 28, 2018 See http://bankrupt.com/misc/ganb18-69892.pdf represented by: Brian S. Limbocker, Esq. LIMBOCKER LAW FIRM, LLC E-mail: bsl@limbockerlawfirm.com In re 22 Runyon St. & 194-196 Johnson Ave Corp Bankr. D.N.J. Case No. 18-33431 Chapter 11 Petition filed November 28, 2018 See http://bankrupt.com/misc/njb18-33431.pdf represented by: Guillermo Gonzalez, Esq. SCURA, WIGFIELD, HEYER & STEVENS, LLP E-mail: ggonzalez@scuramealey.com In re Mineo Realty Inc. Bankr. E.D.N.Y. Case No. 18-46796 Chapter 11 Petition filed November 28, 2018 See http://bankrupt.com/misc/nyeb18-46796.pdf represented by: Richard M. Gabor, Esq. GABOR & MAROTTA LLC E-mail: rgabor@gabormarottalaw.com In re Gabriel A. San Roman and Michele D. San Roman Bankr. E.D.N.Y. Case No. 18-77977 Chapter 11 Petition filed November 28, 2018 represented by: Michael J. Macco, Esq. MACCO & STERN LLP E-mail: csmith@maccosternlaw.com In re Solutions By Design Inc. Bankr. D.P.R. Case No. 18-06886 Chapter 11 Petition filed November 28, 2018 See http://bankrupt.com/misc/prb18-06886.pdf represented by: Nilda M. Gonzalez Cordero, Esq. GONZALEZ CORDERO LAW OFFICES E-mail: ngonzalezc@ngclawpr.com In re Dulles Oral Surgical Center Bankr. E.D. Va. Case No. 18-14001 Chapter 11 Petition filed November 28, 2018 Filed Pro Se In re Timothy Donald Eyman Bankr. W.D. Wash. Case No. 18-14536 Chapter 11 Petition filed November 28, 2018 represented by: Larry B. Feinstein, Esq. E-mail: feinstein1947@gmail.com In re Alasdair Andrew Fraser Bankr. D. Ariz. Case No. 18-14512 Chapter 11 Petition filed November 29, 2018 represented by: Edwin B. Stanley, Esq. SIMBRO & STANLEY, PLC E-mail: bstanley@simbroandstanley.com In re Metro Finishes, L.L.C. Bankr. M.D. Fla. Case No. 18-07371 Chapter 11 Petition filed November 29, 2018 See http://bankrupt.com/misc/flmb18-07371.pdf represented by: Jeffrey Ainsworth, Esq. BRANSONLAW PLLC E-mail: jeff@bransonlaw.com In re Benjamin David Worrell Bankr. M.D. Fla. Case No. 18-07393 Chapter 11 Petition filed November 29, 2018 represented by: Jake C. Blanchard, Esq. BLANCHARD LAW, PA E-mail: jake@jakeblanchardlaw.com In re Artistico Construction, Inc. Bankr. S.D. Fla. Case No. 18-24869 Chapter 11 Petition filed November 29, 2018 See http://bankrupt.com/misc/flsb18-24869.pdf represented by: Chad T. Van Horn, Esq. VAN HORN LAW GROUP, P.A. E-mail: Chad@cvhlawgroup.com In re James E. Ackroyd Bankr. D. Mass. Case No. 18-42207 Chapter 11 Petition filed November 29, 2018 represented by: Freya Allen Shoffner, Esq. SHOFFNER & ASSOCIATES E-mail: fashoffner@shoffnerassociates.com In re A.J. McDonald Company, Inc. Bankr. D. Md. Case No. 18-25670 Chapter 11 Petition filed November 29, 2018 See http://bankrupt.com/misc/mdb18-25670.pdf represented by: Jeffrey M. Sirody, Esq. JEFFREY M. SIRODY AND ASSOCIATES, P.A. E-mail: smeyers5@hotmail.com In re Maria Capellon Bankr. E.D.N.Y. Case No. 18-46846 Chapter 11 Petition filed November 29, 2018 represented by: David A Bellon, Esq. LAW OFFICES OF DAVID A. BELLON, ESQ. E-mail: davidbellon010@gmail.com In re John C. Harb and Elham K. Harb Bankr. N.D. Ohio Case No. 18-17112 Chapter 11 Petition filed November 29, 2018 represented by: Glenn E. Forbes, Esq. FORBES LAW LLC E-mail: bankruptcy@geflaw.net In re Wayne P. Burick and Virginia Sue Burick Bankr. W.D. Pa. Case No. 18-24608 Chapter 11 Petition filed November 29, 2018 represented by: Edgardo D. Santillan, Esq. SANTILLAN LAW, PC E-mail: ed@santillanlaw.com ********* Monday's edition of the TCR delivers a list of indicative prices for bond issues that reportedly trade well below par. Prices are obtained by TCR editors from a variety of outside sources during the prior week we think are reliable. Those sources may not, however, be complete or accurate. The Monday Bond Pricing table is compiled on the Friday prior to publication. 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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. 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