/raid1/www/Hosts/bankrupt/TCR_Public/190920.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Friday, September 20, 2019, Vol. 23, No. 262

                            Headlines

A.P. BECK-ANDOVER: May Use Cash Collateral Thru Nov. 22
ACTT RIVER: Seeks to Hire HomeStarr as Real Estate Broker
ADVANCE SPECIALTY: New Plan Incorporates Deal with E. Borges
AIR 2 US: Fitch Affirms BB- on Series B Enhanced Equipment Notes
ALL CARE CONSULTANTS: U.S. Trustee Objects to Disclosure Statement

ALMANOR LAKEFRONT: Gets Interim Nod to Use Cash Collateral
APX GROUP: Moody's Reviews B3 CFR for Upgrade on Merger Deal
ARJO FOOD: Case Summary & 17 Unsecured Creditors
BIDFAIR MERGERIGHT: Moody's Rates New $550MM Secured Notes 'B1'
BODY BY PASTRAMI: Kenny and Zuke Operator to Seek Chapter 11

BOROWIAK IGA: Case Summary & 20 Largest Unsecured Creditors
BROOKLYN BUILDINGS: Amends Plan to Incorporate City's Revisions
BRUIN E&P: Moody's Lowers Rating on Unsec. Notes to Caa1
BUSY B'S: Seeks to Hire Bunbury & Associates as Real Estate Broker
C.T.W. REALTY: Wilmington Trust Objects to Disclosure Statement

CAMBRIAN HOLDING: Bingham Greenebaum Updates Term Lender Group
CEDAR GROVE: U.S. Trustee Unable to Appoint Committee
CHESAPEAKE ENERGY: S&P Cuts ICR to 'SD' on Debt For Equity Exchange
CIENA CORP: S&P Raises ICR to 'BB+' on Continued Strong Performance
COLONIAL OAKS: Seeks to Hire Marcus & Millichap as Broker

COLORADO GOLDFIELDS: Oct. 23 Hearing on Disclosure Statement
COMPREHENSIVE QUALITY: Case Summary & 12 Unsecured Creditors
CON-NIC APARTMENTS: Wins Continued Cash Access Thru Dec. 31
COPPER STAR: U.S. Trustee Unable to Appoint Committee
COTTONE MARKETING: U.S. Trustee Objects to Disclosure Statement

CP#1109 LLC: Oct. 22 Hearing on Disclosure Statement
CPM HOLDINGS: S&P Lowers ICR to 'B-' on Operational Missteps
DCG ACQUISITION: Moody's Assigns B3 CFR, Outlook Stable
DIETCH'S FLORIST: Taps Mark Band as Accountant
DURR MECHANICAL: Unsecureds' Recovery Unknown Under Plan

DYNATRACE LLC: S&P Affirms 'B' ICR on IPO, Debt Repayment
EKKA INTERNATIONAL: Unsecureds to Get Monthly Payments of $2,011
ELK PETROLEUM: Commnet Objects to Disclosure Statement
EP ENERGY: Obtains Forbearance Through September 22
EVERGREEN PALLET: Case Summary & 19 Unsecured Creditors

FLOORS TODAY: Gets Court OK to Use Cash Thru Nov. 22
FORM TECHNOLOGIES: S&P Lowers ICR to 'B-'; Outlook Stable
FRANKIE V'S KITCHEN: Files Litigation Trust Agreement
FRED'S INC: U.S. Trustee Forms 3-Member Committee
GRABAH PRETZEL: Court Conditionally Approves Disclosure Statement

GRCDALLASHOMES LLC: Unsecureds to Recoup 50% Under Plan
GUIDEHOUSE LLP: S&P Cuts ICR to B- on Delayed Leverage Improvement
HALCON RESOURCES: Seeks to Hire KPMG as Accountant
HAMILTONS 549: Unsecureds to Receive Payment from Sale Proceeds
HARDEN FARMS: White & Allen Represents Wayne Bailey, John Deere

HERITAGE POWER: S&P Rates Senior Secured Debt 'B+'
HOLDINGS OF SOUTH FLORIDA: Gets OK to Use Cash, Pay Creditors
HOLLAND FERTILIZER: Seeks Interim Access to Cash Collateral
HUNT CAMP: U.S. Trustee Objects to Disclosure Statement
IE INC: Oct. 29 Plan Confirmation Hearing

INSIDE SCOOP: Seeks Cash Access, Adequate Protection to FMB
INSYS THERAPEUTICS: Sells Subsys Opioid Biz Despite Crisis
INTEGRATED DYNAMIC: Unsecureds to Get Paid From Revenue
INVENSURE INSURANCE: To Get Monthly Payments Over 5 Years
ION CORPORATE: S&P Assigns 'B' Issuer Credit Rating; Outlook Stable

J2 ACQUISITION: S&P Assigns 'BB-' ICR; Outlook Stable
JAGGED PEAK: SingPost Books $6.9MM Loss, Says Offers Inadequate
JC PENNY: Fitch Lowers LT Issuer Default Ratings to CCC+
JIM PARKER: Nov. 13 Disclosure Statement Hearing
JRND LLC: Kapitus Objection to Cash Use Overruled

K&D INDUSTRIAL: Files Chapter 11 Liquidating Plan
KDO INDUSTRIES: Granted Cash Collateral Access on Interim Basis
KK SUB II: Court Conditionally Approves Disclosure Statement
LASALLE GROUP: Committee Taps Drinker Biddle as Legal Counsel
LASALLE GROUP: Seeks to Hire Weaver and Tidwell as Auditor

LEE'S CAR: Seeks to Hire Rubin & Associates as Accountant
LEGACY RESERVES: Nov. 6 Plan Confirmation Hearing
LIVE OUT LOUD: Secureds to Get Monthly Interest-Only Payments
LOOT CRATE: Seeks Approval to Hire Theseus, Appoint CTO
MATRA PETROLEUM: U.S. Trustee Unable to Appoint Committee

METRO-GOLDWYN-MAYER: S&P Alters Outlook to Neg, Affirms B+ ICR
METRONET HOLDINGS: S&P Assigns 'B-' ICR, Outlook Stable
MIAMI METALS I: Oct. 7 Final Disclosure Statement Hearing
MONEYONMOBILE INC: Investigation Complete in "Fraud" Allegation
MONOTYPE IMAGING: S&P Assigns 'B-' ICR; Outlook Stable on LBO

MOVING BODY: To Pay C&S Bank Monthly Payments Over 120 Months
MR. TORTILLA: Oct. 10 Hearing on Disclosure Statement
MUSA ELJAMAL: Barr & Morgan Sues for $500K in Legal Fees
MUSCLEPHARM CORP: CEO Elects to Convert $18M Note Into Shares
NJE CORP: U.S. Trustee Unable to Appoint Committee

NORPAC FOODS: HM Clause, G. Smith Appointed as Committee Members
NORTHPOINTE GROUP: Taps James E. Vieh as Special Counsel
OFFSHORE DRILLING: Fitch Affirms 'CC' LT Issuer Default Ratings
OPENLINK INTERNATIONAL: S&P Puts 'B-' ICR on Watch Positive
PALM BEACH BRAIN: U.S. Trustee Unable to Appoint Committee

PALMETTO CONSTRUCTION: Seeks to Hire California Construction
PEABODY ENERGY: S&P Rates $900MM Sr. Secured Notes Due 2026 'BB'
PENSKE AUTOMOTIVE: Egan-Jones Lowers Sr. Unsecured Ratings to BB-
PERFORMANCE FOOD: S&P Assigns Prelim 'B+' Rating to Unsec. Notes
PG&E CORP: Trial for Tubbs Fire Victims' Claims Set for Jan. 7

PG&E CORP: Wildfire Victims, Bondholders Offer $24-Bil. Plan
PICK-YOUR-OWN: Taps Silver & Feldman as Legal Counsel
PONDEROSA-STATE ENERGY: Case Summary & 16 Unsecured Creditors
PRADHAN AND COMPANY: Court Conditionally Approves Plan Disclosures
PRIMARY PROVIDERS: Court Confirms 2nd Amended Plan

PRINT PLUS: Court Conditionally Approves Disclosure Statement
PRO SOUTH: Seeks Access to Lenders' Cash Collateral
PROPERTY VENTURES: Files Amended Disclosure Statement
PURDUE PHARMA: Intends to Pay $34MM in Incentives to Employees
PURDUE PHARMA: Stevens & Lee, Morgan Represent Class Claimants

PWR INVEST: Seeks to Hire Barnes & Thornburg as Co-Counsel
PWR INVEST: Seeks to Hire FTI Consulting as Financial Advisor
PWR INVEST: Taps Pronske & Kathman as Legal Counsel
RAIT FUNDING: Ashby, Brown Rudnick Represent Equity Holders
RAIT FUNDING: U.S. Trustee Forms 5-Member Committee

REGAL ROW FINA: Seeks Cash Access, Intends to Sell Assets
ROBERTS PROPERTY: Nov. 18 Hearing on Disclosure Statement
RRQ LLC: Seeks Court Approval of Disclosure Statement
RYMAN HOSPITALITY: S&P Affirms 'B+' ICR on Proposed Refinancing
SAN JUAN ICE: Court Conditionally Approves Disclosure Statement

SANCHEZ ENERGY: Foley, Morrison Represent Secured Bondholders
SEMGROUP CORP: Moody's Reviews B2 CFR for Upgrade Amid Merger Deal
SEMGROUP CORP: S&P Puts 'B+' ICR on Watch Pos. on Energy Deal
SHERIDAN INVESTMENT II: Moody's Lowers Corp. Family Rating to C
SHOPPINGTOWN MALL NY: Seeks to Hire Bernstein-Burkley as Counsel

SOUTH TEXAS: Nov. 19 Plan Confirmation Hearing
SPIN HOLDCO: S&P Cuts Ratings to B- on Lower Cash Flow
SPORTCO HOLDINGS: Oct. 21 Combined Plan, Disclosures Hearing
STELCO INC: S&P Assigns 'B-' Issuer Credit Rating; Outlook Stable
SUGARFINA INC: U.S. Trustee Forms 7-Member Committee

TEGNA INC: S&P Revises Liquidity Assessment to Adequate
THERMASTEEL INC: U.S. Trustee Objects to Disclosure Statement
THRUSH AIRCRAFT: Gets Interim Nod to Use $220K Cash Collateral
THRUSH AIRCRAFT: Seeks to Hire Logue Law as Legal Counsel
THRUSH AIRCRAFT: Seeks to Hire Stone & Baxter as Legal Counsel

THRUSH AIRCRAFT: U.S. Trustee Forms 3-Member Committee
TOTAL HEALTH: May Use $420K in Cash Collateral, May Escrow Fees
TOTAL HEALTH: Taps Stevenson & Bullock as Legal Counsel
TRESHA-MOB LLC: Court Confirms 2nd Amended Plan
TRIPLE POINT: S&P Puts CCC ICR on Watch Pos. on OpenLink Merger

UBER TECHNOLOGIES: S&P Rates Unsec. Notes for Careem Deal 'CCC+'
UBIOME INC: U.S. Trustee Forms 3-Member Committee
USA DRILLING: Taps Harlin Parker as Legal Counsel
VALADOR INC: Unsecureds to Get 60 Monthly Distribution of $8,500
VERDICORP INC: U.S. Trustee Unable to Appoint Committee

VILLAS OF WINDMILL: U.S. Trustee Unable to Appoint Committee
VISTRA ENERGY: Fitch Affirms BB IDR & Alters Outlook to Positive
VSOP LLC: Court Approves Disclosure Statement
W GRANT AVENUE: Voluntary Chapter 11 Case Summary
WALL TO WALL: Taps HB Morris as Accountant

WEST VIRGINIA RESORTS: Gets Court Approval to Hire Realtor
WEYERBACHER BREWING: Nov. 4 Plan Confirmation Hearing
WHITE'S PLACE: U.S. Trustee Unable to Appoint Committee
WINDSTREAM HOLDINGS: Troutman Sanders Represents Ad Hoc EMC Group
WISE ENTERPRISE: Bank Seeks to Hinder Debtor Access to Cash

WOODSTOCK REALTY: Seeks Interim Cash Access Thru Sept. 30
WORLDPAY INC: Egan-Jones Withdraws BB Sr. Unsec. Ratings
XTL INC: U.S. Trustee Forms 5-Member Committee
YOAKUM INDEPENDENT SCHOOL: S&P Cuts GO Rating to BB+; Outlook Neg.
YRC WORLDWIDE: S&P Rates $600MM Term Loan 'B'

ZELIS HEALTHCARE: S&P Lowers Long-Term ICR to 'B'; Outlook Stable
ZELIS HOLDINGS: S&P Assigns 'B' ICR; Outlook Stable
[*] Ex-Delaware Bankruptcy Judge Kevin Carey Joins Hogan Lovells
[^] BOOK REVIEW: Full Faith and Credit: The Great S & L Debacle

                            *********

A.P. BECK-ANDOVER: May Use Cash Collateral Thru Nov. 22
-------------------------------------------------------
The U.S. Bankruptcy Court for the District of Massachusetts
authorizes A.P. Beck-Andover Realty, LLC, to continue using cash
collateral under the same terms and condition until the hearing on
Nov. 22, 2019 at 12 p.m. in Worcester, Courtroom 4.   

The Debtor must serve a copy of the Court order to Citizens Bank by
Sept. 20, 2019.

                  About A.P. Beck-Andover Realty

A.P. Beck-Andover Realty, LLC, a single asset real estate as
defined in 11 U.S.C. Section 101(51B), filed a petition seeking
relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Mass.
Case No. 18-41696) on Sept. 11, 2018.  In the petition signed by
Adam P. Beck, manager, the Debtor was estimated to have $1 million
to $10 million in assets and liabilities.  The Ann Brennan Law
Offices represents the Debtor.


ACTT RIVER: Seeks to Hire HomeStarr as Real Estate Broker
---------------------------------------------------------
ACTT River Road LLC seeks approval from the U.S. Bankruptcy Court
for the Eastern District of Pennsylvania to hire a real estate
broker.

In an application filed in court, the Debtor proposes to employ
HomeStarr Realty, Inc. in connection with the sale of its property
located at 4935 River Road, New Hope, Pa.

HomeStarr will get a commission of 3 percent of the sales price.
The listing price for the property is $1.25 million.

Charles Kowalski III, a real estate sales agent employed with
HomeStarr, disclosed in court filings that the firm is
"disinterested" within the meaning of Section 101(14) of the
Bankruptcy Code.

HomeStarr can be reached through:

     Charles A. Kowalski, III
     HomeStarr Realty, Inc.
     850 Easton Road
     Warminster, PA 18976
     Phone: (215) 778-4501
     Email: topbucksagent@gmail.com

                       About ACTT River Road

ACTT River Road LLC classifies its business as single asset real
estate (as defined in 11 U.S.C. Section 101(51B)).

Based in Point Pleasant, Pa., ACTT River Road sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Pa. Case No.
19-13789) on June 12, 2019. At the time of the filing, the Debtor
estimated $1 million to $10 million in both assets and liabilities.
Mark S. Haltzman, Esq., at Silverang, Rosenzweig & Haltzman, LLC,
is the Debtor's counsel.


ADVANCE SPECIALTY: New Plan Incorporates Deal with E. Borges
------------------------------------------------------------
Advance Specialty Care, LLC, filed a Third Amended Chapter 11 Plan
and accompanying disclosure statement.

Class 5: Borges general unsecured claim are impaired and arising
from the Judgment issued in her favour in tort action, which is
currently on Appeal.  The Plan incorporates all of the terms and
condition of the "Global Stipulation Re: Plan Treatment For
Unsecured Creditor Emma Borges' Claim and Related Confirmation
Issues Agreed to After Mediation With Hon. Thomas Doyan."

The Plan will be funded by the following: (a) cash on hand ($230,
547.51 as of May 1, 2019; (b) at least $50,000 "new value"
contribution from the current equity holders; (c) at least $349,000
in retroactive payments from Medi-Cal; and (d) net monthly income
from operation of ASC's business ranging between $23,323.10 to to
$68,927. 34 per month during the term of the Plan.

Preservation of Retained Actions. Any rights of action arising from
pre-petition circumstances or events, including prosecution of any
and all state law insurance bad faith claims against Philadelphia
Indemnity Insurance Company, is expressly preserved notwithstanding
confirmation of the Plan. Debtor intends to file an application to
employ Jerome L. Ringler and Neil M. Howard, as special state court
insurance litigation counsel, to investigate and, if appropriate,
prosecute on ASC’s behalf Claims. Ringler/Howard may commence
prosecution of the Claims either before or after confirmation of
the Plan.

A redlined version of the Amended Chapter 11 Plan dated September
9, 2019, is available at https://tinyurl.com/yxmmx9ks from
PacerMonitor.com at no charge.

General Insolvency Counsel for the Debtor:

     RAYMOND H. AVER, Esq.
     LAW OFFICES OF RAYMOND H. AVER
     A Professional Corporation
     10801 National Boulevard, Suite 100
     Los Angeles, California 90064
     Telephone: (310) 571-90064
     Email: ray@averlaw.com

                About Advance Specialty Care

Based in Los Angeles, California, Advance Specialty Care, LLC, is a
home-health care provider offering nursing, physical therapy,
occupational therapy, speech pathology, medical social, and home
health aide services.  The company previously sought bankruptcy
protection on March 19, 2016, (Bankr. C.D. Calif. Case No.
16-13521) and Oct. 24, 2017 (Bankr. C.D. Calif. Case No.
17-23070).

Advance Specialty Care, LLC, a/k/a ASC, LLC filed a Chapter 11
petition (Bankr. C.D. Calif. Case No. 17-24737) on Nov. 30, 2017.
The petition was signed by Moises L. Simbulan, chief financial
officer.  At the time of filing, the Debtor estimated $500,000 to
$1 million in assets and $10 million to $50 million in liabilities.
The case is assigned to Judge Robert N. Kwan.


AIR 2 US: Fitch Affirms BB- on Series B Enhanced Equipment Notes
----------------------------------------------------------------
Fitch Ratings affirmed the ratings on the following enhanced
equipment notes (EENs) issued by Air 2 US:

  -- Series A EENs at 'BB+'/'RR1';

  -- Series B EENs at 'BB-'/'RR5'.

Air 2 US is a special purpose Cayman Islands company created to
issue EENs. The proceeds from the notes were used to purchase
permitted investments and to enter into a risk transfer agreement.
The transaction is structured as a lease payment securitization
backed by payments from United Airlines for 22 Airbus A320's. The
deal initially included payments from American Airlines for 19
leased A300's; however, American's obligations only ran through
October 2011. United's lease payments were restructured when they
filed for bankruptcy in 2002, creating a continuing deficiency on
each payment date. As such, the class C and class D notes (not
rated by Fitch) are subject to on-going payment deficiencies. The
shortfall is funded by allocating a portion of a pool of permitted
investments to the lessor on each payment date. The class A and B
notes continue to receive timely payments.

Air 2 US entered into the risk transfer agreement (the Payment
Recovery Agreement), with a subsidiary of Airbus. The primary
provision of the Payment Recovery Agreement states that if United
Airlines, Inc. (BB/Stable) fails to pay scheduled rentals under
existing subleases of aircraft with subsidiaries of Airbus, AIR 2
US will pay these rental deficiencies to a subsidiary of Airbus.
These deficiency payments will come from the cash flows created by
the permitted investments. As such, the greatest risk of the
transaction is the bankruptcy risk of the lessee airline.

KEY RATING DRIVERS

Fitch rates this transaction using its Non-Financial Corporates
Notching and Recovery Ratings Criteria.

In prior reviews Fitch's analysis utilized a discounted cash flow
model to determine the NPV of future lease payments. The analysis
assumed that lease payments experienced a severe haircut in the
stress case, reflecting a scenario where the aircraft are rejected
and re-leased at a lower rate. The NPV is then compared to the
outstanding principal balance to determine a Recovery Rating.

However, as of this review, the DCF is less relevant due to the
small amount of remaining debt outstanding and the notes' pending
maturity. The class A certificates are expected to be paid in full
in October of this year. The class B certificates are expected to
be repaid in 2020. United's 'BB/Stable' rating reflects Fitch's
view that United is unlikely to enter a period of distress or to
miss lease payments in the near-term. In addition, the remaining
aircraft in the transaction have current market value of
approximately $6 million-$8 million (per independent appraisals),
meaning that the collateral easily covers the remaining principal.

Expected recoveries for series B noteholders have improved over the
past year due to the limited principal outstanding. However, Fitch
has not upgraded the notes due to the limited amount of time until
maturity.

The aircraft underlying this transaction are not highly desirable.
The collateral aircraft consist of Airbus A320-200s that were
delivered in the mid-1990s and are now over 20 years old. While
newer build A320s would be considered tier 1 aircraft, older
production A320's, such as those in this pool, are classified as
tier 3 due to the lower demand for these less fuel efficient
vintages.

DERIVATION SUMMARY

Air 2 US is a unique transaction and is not directly comparable to
EETC ratings or other aircraft backed debt. Fitch rates the Air 2
US class A notes in line with United's secured term loan
facilities. The term loans benefit from their security interests in
key strategic assets for United like slots and gates at key
airports. Fitch does not consider the A320s underlying the Air 2 US
transaction to be key strategic assets due to their advanced age.
Nonetheless, both Air 2 US and the United term loans are rated
'BB+'/'RR1' due to their strong recovery prospects. The class B
notes are rated one notch below United's unsecured notes reflecting
their subordinated position.

KEY ASSUMPTIONS

Fitch's key assumptions within the rating case for Air 2 US
include:

  -- Fitch's primary assumption is that United will not come under
pressure or otherwise fail to pay on the underlying leases through
the maturity of the notes.

RATING SENSITIVITIES

The issue ratings are driven by Fitch's recovery expectations based
on the value of the collateral and by the IDR of the underlying
airline. If United were to be upgraded or downgraded, the EEN's
would likely be upgraded or downgraded in lock-step. Barring a
change in United's rating, Fitch does not expect to upgrade or
downgrade either class of notes due to their pending maturities.

LIQUIDITY AND DEBT STRUCTURE

The class A notes are cash collateralized in an amount intended to
cover up to 18 months of interest payments.


ALL CARE CONSULTANTS: U.S. Trustee Objects to Disclosure Statement
------------------------------------------------------------------
The United States Trustee for Region 21 objects to the disclosure
statement and proposed plan filed by All Care Consultants, Inc.

The U.S. Trustee points out that the plan is not confirmable under
11 U.S.C. Section 1129(e), more than 45 days will pass before
confirmation of the proposed plan and the Debtor has not obtained
an extension of the deadline under 11 U.S.C. Section 1121(e)(3).

The U.S. Trustee further points out that the Debtor should attach
the most recent monthly operating report to the disclosure
statement.

According to the U.S. Trustee that the Debtor should provide more
information regarding the litigation with Banker's Healthcare and
whether this matter will be resolved by virtue of the proposed
plan.

The U.S. Trustee complains that the list of unsecured creditors on
page 5 of the disclosure statement fails to include the scheduled
claim owed to Bank of America in the amount of $27,004.55.

The U.S. Trustee asserts that the disclosure statement should
indicate the executory contracts.

The U.S. Trustee points out that the disclosure statement fails to
contain sufficient information and projections relevant to the
creditors' decision to accept or reject the proposed plan.

                About All Care Consultants Inc.

Based in Boca Raton, Fla., All Care Consultants, Inc. filed a
voluntary Chapter 11 petition (Bankr. S.D. Fla. Case no. 19-15309)
on April 24, 2019, listing under $1 million in both assets and
liability.  Judge Erik P. Kimball presides over the case.  Susan D.
Lasky, Esq., at Sue Lasky, PA, represents the Debtor as counsel.


ALMANOR LAKEFRONT: Gets Interim Nod to Use Cash Collateral
----------------------------------------------------------
Judge Stephen L. Johnson of the U.S. Bankruptcy Court for the
Northern District of California authorizes Almanor Lakefront
L.L.C., to use cash collateral on an interim basis in order to pay
ordinary business expenses, including quarterly fees to the U.S.
Trustee.

The Debtor will pay Plumas Bank, as adequate protection, $3,593.65
monthly, beginning Aug. 20, 2019.

A final hearing on the motion is set for Nov. 6, 2019.   The Debtor
must file updated papers for the final hearing by Oct. 23.
Objections to the motion must be filed by Oct. 30, 2019.

                      About Almanor Lakefront

Almanor Lakefront L.L.C. operates a recreational park, which stands
on a 1.45-acre leased real property in County of Plumas,
California.  It, in turn, sublets divisions of the property to 19
subtenants.  

Almanor Lakefront sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Cal. Case No. 19-51578) on Aug. 5,
2019.  At the time of the filing, the Debtor estimated assets of
less than $500,000 and liabilities of less than $1 million.
MacDonald Fernandez LLP is the Debtor's legal counsel.


APX GROUP: Moody's Reviews B3 CFR for Upgrade on Merger Deal
------------------------------------------------------------
Moody's Investors Service placed APX Group, Inc.'s B3 corporate
family rating and B3-PD probability of default rating on review for
upgrade following the September 16th announcement that the
alarm-monitoring and smart-home company would be merging with an
investment subsidiary of Mosaic Acquisition Corp., a publicly
traded, special purpose acquisition company. Moody's placed
Vivint's existing, nearly $1.9 billion of B2-rated first-lien
senior secured term loan and notes (with maturities of 2022 and
2024), and existing, $854 million of Caa2-rated unsecured notes (a
little more than half of which is due in 2020, the rest in 2023) on
review for upgrade. Moody's is considering a one-notch upgrade to
existing ratings upon successful completion of the proposed
transaction. As part of the rating action, Moody's downgraded the
company's speculative grade liquidity rating to SGL-4, from SGL-3,
reflecting Vivint's still significant 2020 debt maturities, which
are dependent on this transaction.

As part of the merger transaction, funds affiliated with current
majority investor The Blackstone Group Inc. will invest an
incremental $100 million in Vivint through an investment in the
common stock of Mosaic immediately prior to the closing of the
combination. Affiliates of new investor Fortress Investment Group
LLC ("Fortress") have also committed to invest $125 million in
Vivint, through Mosaic. Mosaic's current stockholders and certain
other investors will be investing $150 million in connection with
the merger pursuant to mandatory forward purchase commitments
obtained in connection with Mosaic's October 2017 IPO.

In total, there are expected to be approximately $690 million of
net cash proceeds at closing, assuming no share redemptions by
Mosaic's public stockholders, and including $345 million of cash on
Mosaic's balance sheet raised in its IPO and which is expressly
intended for executing a business combination. Management expects
these cash proceeds to be used for working capital and to pay down
all of Vivint's $454 million of 8.75% notes maturing in 2020. The
remaining, approximately $236 million of proceeds will go towards
paying down as yet unspecified debt. Blackstone and other existing
investors of Vivint are expected to own approximately 75% of the
outstanding shares of Vivint immediately following the merger.
Current Mosaic shareholders are expected to own about 18% of the
combined company, while contributions from PIPE investors (those
investing in the SPAC; i.e., Fortress and Blackstone) would
represent a 7% ownership stake. The agreed upon enterprise
valuation of the company, $5.6 billion, has been arrived at by
assuming a 10.5-times multiple of Vivint's adjusted 2020 EBITDA,
plus the $2.5 billion of post-combination debt. Following the
merger, Mosaic will be renamed "Vivint Smart Home, Inc."

On Review for Upgrade:

Issuer: APX Group, Inc.

  Corporate Family Rating, Placed on Review for Upgrade,
  currently B3

  Probability of Default Rating, Placed on Review for Upgrade,
  currently B3-PD

  Senior Secured 1st lien Term Loan B, Placed on Review for
  Upgrade, currently B2 (LGD3)

  Senior Secured 1st lien Notes, Placed on Review for Upgrade,
  currently B2 (LGD3)

  Senior Unsecured Notes, Placed on Review for Upgrade,
  currently Caa2 (LGD5)

Downgrades:

Issuer: APX Group, Inc.

  Speculative Grade Liquidity Rating, Downgraded to SGL-4 from
  SGL-3

Outlook Actions:

Issuer: APX Group, Inc.

  Outlook, Changed To Rating Under Review From Stable

RATINGS RATIONALE

Vivint's ratings are being placed on review for a potential upgrade
because, if all of the $690 million of expected net proceeds from
the transaction are realized and used, as anticipated, to pay down
debt, the company would reduce its June 30, 2019 $3.28 billion debt
burden by more than 20%. An equivalent proportion of annual
interest expense, about $50 million, will also be saved, freeing up
needed liquidity. Vivint's $454 million of near-maturing (2020)
debt will be repaid in full, allowing relief from potential
springing-maturity provisions on all the company's existing
first-lien debt. Moody's-calculated debt-to-RMR (recurring monthly
revenue) will improve as a result of the transaction, from about
41.3 times currently, to about 32.5 times, a level strong for even
a B2-rated alarm monitor.

Moody's views Vivint's liquidity, as reflected in the SGL-4 rating,
as weak, due primarily to debt maturity schedules that may be
impacted significantly by the success or failure of the Mosaic
combination. Vivint has $270 million of privately placed first-lien
notes due 2022. If Vivint does not refinance (a large portion of)
its $454 million, December 2020 notes by September 2020, the
private placement notes' maturity will spring forward to September
2020. The activation of this springing maturity provision would
trigger similar springing provisions in all of Vivint's other,
approximately $2.6 billion first-lien debt issuances, including the
$295 million super-priority revolver. There is clear pressure on
the company to refinance the requisite amount of its 2020 notes,
and the expected proceeds from the Mosaic transaction would easily
allow that. Its belief in the high likelihood of a successful
combination with Mosaic underlies Moody's favorable
ratings-on-review action, since without the transaction Vivint
would be facing much more challenging capital structure options,
which would result in negative rating actions.

Vivint's credit profile also reflects its heretofore heavy reliance
on debt capital markets to support growth, as well as Moody's
expectation that the company will continue to operate at high
debt-to-RMR levels. Continued rapid growth, with more new
subscribers taking on a greater number of expensive smart-home
devices, will support revenues. Increasing adoption of Vivint's
Flex Pay program, which provides financing for customers to pay for
monitoring equipment, will ease the company's working capital
burden. The Flex Pay program and, especially, the proposed Mosaic
merger, will reduce Vivint's historic need for large, periodic debt
raises. Revenue, RMR, and subscriber growth haven been consistent
and strong -- considerably higher, in fact, than Vivint's alarm
monitoring peers. But the cost of achieving that growth, even with
the support of relatively favorable attrition rates of about 13%,
had kept Moody's-adjusted debt-to-RMR leverage above 40 times.
Operations are supported by nearly 90% adoption rates (by new
subscribers) of its Smart Home products, which generate clear
industry-leading average RMR-per-subscriber metrics and typically
have lower attrition rates.

Vivint faces moderate Environmental, Social and Governance (ESG)
risks, primarily in the form of past governance lapses marked by
irregular seasonal sales practices that have been raised by
communities in its sales regions and by regulators and for which
Vivint has had to pay damages.

The principal methodology used in these ratings was Business and
Consumer Service Industry published in October 2016.

APX Group, Inc. provides alarm monitoring and home automation
services to approximately 1.5 million residential subscribers in
North America. With 2019 Moody's-anticipated revenue of $1.15
billion (a 10% gain over 2018), Vivint is the second-largest
provider of home security and automation services, well behind The
ADT Security Corporation. As the result of a late 2012 acquisition,
Vivint is majority-owned by The Blackstone Group Inc., while its
management team has maintained a meaningful ownership stake.


ARJO FOOD: Case Summary & 17 Unsecured Creditors
------------------------------------------------
Debtor: Arjo Food Corp.
        5817 5th Avenue
        Brooklyn, NY 11220-3819

Business Description: Arjo Food Corp. operates a 5,500 square foot
                      retail supermarket at 5817 5th Avenue in
                      the Sunset Park section of Brooklyn NY under
                      the banner "America's Food Basket",
                      employing 17 full-time and part-time
                      individuals.
                      
Chapter 11 Petition Date: September 17, 2019

Court: United States Bankruptcy Court
       Eastern District of New York (Brooklyn)

Case No.: 19-45574

Judge: Hon. Nancy Hershey Lord

Debtor's Counsel: J. Ted Donovan, Esq.
                  GOLDBERG WEPRIN FINKEL GOLDSTEIN LLP
                  1501 Broadway, 22nd Floor
                  New York, NY 10036
                  Tel: (212)-301-6943
                  Fax: (212)-422-6836
                  E-mail: Tdonovan@gwfglaw.com

                     - and -

                  Kevin J. Nash, Esq.
                  GOLDBERG WEPRIN FINKEL GOLDSTEIN LLP
                  1501 Broadway 22nd Floor
                  New York, NY 10036
                  Tel: (212) 221-5700
                  E-mail: knash@gwfglaw.com

Total Assets: $1,217,000

Total Liabilities: $2,674,280

The petition was signed by Rubani Bueno, president.

A full-text copy of the petition containing, among other items, a
list of the Debtor's 17 largest unsecured creditors is available
for free at:

          http://bankrupt.com/misc/nyeb19-45574.pdf


BIDFAIR MERGERIGHT: Moody's Rates New $550MM Secured Notes 'B1'
---------------------------------------------------------------
Moody's Investors Service assigned a B1 rating to the proposed $550
million senior secured notes due 2027 issued initially by BidFair
MergeRight Inc. which will be merged with and into Sotheby's as the
surviving entity. BidFair is ultimately owned and controlled by
BidFair USA LLC, an entity wholly owned by Patrick Drahi, whose
principal holding includes Altice, a group of two publicly traded
telecommunications companies. The ratings are subject to review of
final documentation.

The proceeds from the proposed secured note offering, a proposed
$550 million bank term loan, and approximately $1.45 billion of
cash equity will be used to acquire Sotheby's equity ($3.7
billion), repay its outstanding debt ($990 million) and pay
transaction fees and expenses. The notes will be guaranteed by
BidFair's direct parent, BidFair HoldCo, and existing and future
direct or indirect material subsidiaries of the borrower. The notes
will be secured by substantially all assets and equity interests of
the borrower held by the Parent.

Sotheby's existing operations will be split into three
subsidiaries, the legacy Sotheby's auction business (which forms
the credit group for the notes and bank facilities) and two
non-recourse subsidiaries, that will run Sotheby's financial
service operation and the other that will own and lease the London
and New York offices to Sotheby's.

Assignments:

Issuer: BidFair MergeRight Inc.

Senior Secured Regular Bond/Debenture, Assigned B1 (LGD3)

RATINGS RATIONALE

Sotheby's credit profile is supported by the company's strong
qualitative factors which include its position as one of just two
major branded global auction houses, its well-known expertise in a
highly specialized industry characterized by high barriers to
entry, and strategic emphasis on increasing digitalization, and
expanding into new non-art product categories that will draw and
appeal to a larger geographic and demographic audience. The rating
is supported by management's stated intention to reducing high
pro-forma leverage by applying all free cash flow to reduce debt.
Additionally, Sotheby's benefits from good liquidity given its
ability to generate free cash flow of approximately $125 million
and access to a committed revolving credit facility.

The company's credit profile is constrained by the high cyclicality
of the art auction market which can result in dramatic swings in
operating performance and credit metrics, that Sotheby's most
recently experienced beginning in the fourth quarter of 2015
through year end 2016. During this time, Sotheby's total auction
sales and EBITDA dropped by approximately 29% and resulted in a
material deterioration in credit metrics. The art market rebound
began in 2017 and is continuing, however, Moody's expects some
softness in demand to appear over the next 12 -- 18 months given
geopolitical issues, including Brexit, trade wars, and softening
global economic growth. Sotheby's has agreed to provide a $150
million letter of credit to support the guarantee given by the
Parent Guarantor (BidFair Holdco) to SFS's obligations under
securitization vehicles. This reduces availability under the $400
million revolver and is factored into its liquidity assessment.

Proforma Moody's adjusted debt/EBITDA of around 5.0x assuming 100%
of projected synergies are achieved is high particularly in light
of industry cyclicality that is difficult predict. This risk is
offset to some degree by an expected improvement in margin due to
elimination of stock compensation expense, cost efficiencies and
the transfer of corporate overhead to the non-recourse subsidiary
that will operate the financial service business. Furthermore,
Sotheby's free cash flow will approximate $125 million and the
company has indicated it apply free cash flow to debt reduction in
excess of mandatory 1% amortization and required excess cash flow
repayments. The company has indicated it intends to maintain
leverage in the 4.0-4.5x range, which roughly equates to 4.3 --
4.8x on a Moody's adjusted basis.

The sponsor, Patrick Drahi, is a private individual with ownership
in several public cable companies, and so Moody's does not believe
Sotheby's is subject to the same risks associated with typical
private equity ownership. This is a long-term investment made with
excess cash from the sponsor's other holdings, and so governance
risk is low.

The stable outlook reflects Moody's view that the company can
manage some potential softness in demand for art caused by economic
uncertainty. The ratings could be upgraded if the company
establishes a track record of adhering to its financial policy,
maintains very good liquidity and sustains debt/EBITDA below 4.5x
(Moody's adjusted basis). Ratings could be downgraded if
debt/EBITDA is sustained above 5.75x or if Sotheby's liquidity
weakens and is insufficient to support the company through cyclical
downturns in the auction market or should the auction market face a
protracted structural downturn.

Sotheby's, headquartered in New York NY, is one of the two largest
auction houses in the world. Total pro-forma revenues are about
$990 million

The principal methodology used in these ratings was Business and
Consumer Service Industry published in October 2016.


BODY BY PASTRAMI: Kenny and Zuke Operator to Seek Chapter 11
------------------------------------------------------------
Body by Pastrami LLC, which operates Portland sandwich shop Kenny
and Zuke's, is pursuing a Chapter 11 bankruptcy but intends to keep
the business open.

Owner and chef Ken Gordon has confirmed to Willamette Week that the
long-running sandwich shop whose Jewish deli fare has been a
Portland favorite for more than a decade intends to seek bankruptcy
protection.

The Chapter 11 filing, Gordon wrote to investors, is "necessitated
by the large amount of debt incurred over the years."

A civil suit from food distributor Performance Food Group, alleging
Kenny and Zuke's owes $184,494 in unpaid invoices, was the main
factor in the decision, Gordon told WW.


BOROWIAK IGA: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Borowiak IGA Foodliner, Inc.
          d/b/a Borowiak's IGA
        13 N 5th St
        Albion, IL 62806

Case No.: 19-40699

Business Description: Borowiak IGA Foodliner Inc. --
                      https://www.borowiaksonline.com/ --
                      is a food retailer in Southern Illinois
                      offering canned foods and dry goods,
                      beverages, cocktails, breads, casseroles,
                      and other related products.

Chapter 11 Petition Date: September 17, 2019

Court: United States Bankruptcy Court
       Southern District of Illinois (Benton)

Judge: Hon. Laura K. Grandy

Debtor's Counsel: Douglas A. Antonik, Esq.
                  ANTONIK LAW OFFICES
                  3405 Broadway
                  PO Box 594
                  Mt Vernon, IL 62864
                  Tel: (618) 244-5739
                  Fax: (618) 244-9633
                  E-mail: antoniklaw@charter.net

Total Assets: $2,205,931

Total Liabilities: $9,097,877

The petition was signed by Trevor Borowiak, president.

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/ilsb19-40699.pdf


BROOKLYN BUILDINGS: Amends Plan to Incorporate City's Revisions
---------------------------------------------------------------
Brooklyn Buildings, LLC, filed a Second Amended Chapter 11 Plan and
Second Amended Disclosure Statement, which include extensive
revisions to the First Amended Disclosure Statement and
incorporates New York City's revisions as well as copies of the
Exit Loan
documents and the Subordination Agreement with Department of
Housing Preservation and Development.  The Debtor still contends
that the Equity Contribution does not need to be approved by the
Court as it is not a loan to the Debtor.  The City and other
creditors disagree.

In 2002, the City undertook an Urban Development Action Area
Project to rehabilitate certain blighted properties in Brooklyn
pursuant to Article 16 of the General Municipal Law.  The Project
was part of HPD's Neighborhood Homes Program which is designed to
rehabilitate 1 to 4 family homes to be sold to individuals whose
household income is no more than 165% of median income for a family
of four in the New York metropolitan area.
The Project originally consisted of 26 properties spread across
the Crown Heights, Bedford Stuyvesant, Ocean Hill and Prospect
Heights neighborhoods.  The original sponsor/developer was Moore
Better Homes Housing Development Fund Company, Inc., a New York not
for profit corporation formed under Article XI of the New York
Private Housing Finance Law. MBH was selected following a request
for qualification, public hearings and the issuance of City Council
and Mayoral resolutions.

Critical to the Debtor's success and emergence from Chapter 11 was
to come to an agreement with HPD as to the method and process for
moving forward with the sale of the Properties.

The Debtor’s original plan filed on May 1, 2019 provided for
funding in the amount of $4 million; an equity contribution up to
$1 million dollars to be made anytime up to the closing of the Exit
Loan by FIA Deer Hill Road Holdings, LLC, an affiliate of FIA
Capital Partners, LLC and "exit" financing of up to $3 million
post-Confirmation from Brooklyn Buildings Lender LLC, a special
purpose entity and affiliate of GCRE.  The City, Frimhar, NYCTL
1998-2 Trust and two Contract Vendees objected to the approval of
the Debtor's May 1, 2019 disclosure statement.  At Debtor's
request, the hearing on that initial disclosure statement was
adjourned to July 17, 2019 and then again to August 21, 2019.

On August 14, 2019, Debtor filed its First Amended Chapter 11 Plan
and First Amended Disclosure Statement for hearing on August 21,
2019. In the meantime, on July 30, 2019, the City filed a Motion to
Dismiss the Chapter 11 case, which was also made returnable on
August 21, 2019.  On August 14, 2019, the Debtor filed an Omnibus
Response to creditors' objections and the City's Motion to Dismiss
and Allswang's Declaration, and on August 20, 2019, the City filed
a Reply Affirmation in further support of its Motion to Dismiss and
Objection to the approval of Debtor's First Amended Disclosure
Statement.

Erik Scantlebury also filed an Objection to the approval of the
First Amended Disclosure Statement. At the hearing held on August
21, 2019 on the City's Motion to Dismiss and the approval of the
First Amended Disclosure Statement, the Court concluded that the
City made a compelling case for dismissal unless the Debtor can
file a Second Amended Plan and Disclosure Statement, in cooperation
with the City, by September 13, 2019, that incorporated events of
default and a tight timeline for completion of construction and
sale of the Properties. The adjourned hearing to consider the
City's Motion as well as the approval of the Second Amended Plan
and Disclosure Statement is scheduled for September 18, 2019.

Class 4 consists of the Holders of the Allowed Secured Claims of
the tax lien trusts NYCTL 1998-2 for real estate taxes and water
and sewer charges which have been sold by the City of New York to
the Tax Lien Trusts for pre-Petition Date periods (though the
transfer from the City of New York to the Tax Lien Trusts may have
occurred post-Petition Date). The Allowed Class 4 Claims shall be
paid in full together with applicable statutory interest thereon,
upon the sale of the particular Property to which the respective
Allowed Class 4 Claim relates. Until such time that each Allowed
Class 4 Claim is paid in full, the liens which secure each Class 4
Claims shall remain in full force and effect. The Debtor estimates
that the Class 4 Claims total approximately $115,000. The Allowed
Class 4 Claims are impaired under this Plan and shall be entitled
to vote to accept or reject the Plan.

The Debtor's Managing Member has secured funding in the form of
preferred equity from FIA in an amount up to $1 million dollars.
The money is being funded to the Debtor in exchange for 9.5% of
equity in the Debtor which is being allocated from the equity held
by Yehoshua Allswang. If the contribution is repaid within twenty
(24) months, with interest at 8%, by Mr. Allswang (not the Debtor),
then the equity will revest with Mr. Allswang. If not, FIA retains
its 9.5% membership interest and will share in any distribution to
the equity holders after the payment in full of all Allowed
Administrative, Priority and Secured Creditors. These terms have
been agreed to by the parties but have not yet been reduced to a
formal agreement. To be clear, this is not a loan to the Debtor and
will not be repaid by the Debtor.

The Debtor has secured the Exit Loan from the Exit Lender in the
amount of up to $3 million dollars which funds shall incur interest
at 12% per annum with a cost of 2% and shall permit reborrowing in
accordance with the loan documents. The Debtor shall be permitted
to draw down on the loan proceeds in accordance with its capital
needs as necessitated for the construction of the Properties as
further detailed in the GCRE Projection  and the funding
requirements under the Plan. The Exit Loan shall be repaid as each
Property is sold, in a pre-negotiated amount. The Exit Lender shall
release its lien on each Property at Closing in exchange for the
receipt of the Release Payment.

A full-text copy of the Second Amended the Disclosure Statement
dated September 13, 2019, is available at
https://tinyurl.com/yyf2wcrc from PacerMonitor.com at no charge.

A blacklined version of the Second Amended the Disclosure Statement
dated September 13, 2019, is available at the
https://tinyurl.com/yyf2wcrc from PacerMonitor.com at no charge.

Attorneys for the Debtor:

     Erica R. Aisner, Esq.
     KIRBY AISNER & CURLEY LLP
     700 Post Road, Suite 237
     Scarsdale, New York 10583
     Tel: (914) 401-9500

                About Brooklyn Buildings

Brooklyn Buildings LLC is a privately held real estate company.
Its principal place of business is located at 1600 Bergen Street
Brooklyn, New York.  Brooklyn Buildings filed for bankruptcy
protection (Bankr. E.D.N.Y., Case No. 18-43971) on July 11, 2018.
In the petition signed by Yehoshua Allswang, managing member, the
Debtor estimated assets of $10 million to $50 million and estimated
liabilities of $1 million to $10 million.  Judge Carla Craig
oversees the case.  Kirby Aisner & Curley LLP represents the
Debtor.


BRUIN E&P: Moody's Lowers Rating on Unsec. Notes to Caa1
--------------------------------------------------------
Moody's Investors Service downgraded Bruin E&P Partners, LLC's
senior unsecured notes rating to Caa1 from B3. Moody's affirmed
Bruin E&P's B2 Corporate Family Rating and B2-PD Probability of
Default Rating. The outlook remains stable.

"The downgrade of Bruin E&P's unsecured notes reflects an increase
of $100 million in the company's secured revolver" said Paresh
Chari, Moody's analyst.

Affirmations:

Issuer: Bruin E&P Partners, LLC

  Corporate Family Rating, Affirmed B2

  Probability of Default Rating, Affirmed B2-PD

Downgrades:

Issuer: Bruin E&P Partners, LLC

  Senior Unsecured Regular Bond/Debenture, Downgraded
  to Caa1 (LGD5) from B3 (LGD5)

Outlook Actions:

Issuer: Bruin E&P Partners, LLC

  Outlook, Remains Stable

RATING RATIONALE

Bruin E&P's B2 CFR is constrained by: 1) its small production and
reserves in the Williston Basin Bakken relative to E&P peers; 2)
limited financial and operating track record with the acquired core
Fort Berthold field; and 3) largely unknown finding and development
costs due to limited development history. Bruin's CFR benefits
from: 1) the high light oil production mix (about 80%) that leads
to solid leveraged cash margins above $20/boe; 2) low corporate
decline rates of around 20% that allows the company to grow while
generating positive free cash flow in 2020; 3) solid expected
retained cash flow to debt of 25% in 2019 and 30% in 2020; and 4)
sound hedging program with about 80% of oil hedged for 2019 and 50%
hedged for 2020.

Environmental, Social and Governance considerations include the
natural gas flaring limitation in North Dakota and aggressive
financial policies demonstrated by a $200 million dividend in 2018
that elevated leverage.

The $589 million senior unsecured notes are rated Caa1, two notches
below the B2 CFR, reflecting the priority claim of the $710 million
reserve-based secured credit facility.

Bruin has adequate liquidity. At June 30, 2019 and pro forma for
the September 2019 $100 million revolver increase, Bruin had $17
million of cash and $192 million available on its $710 million
borrowing base credit facility that matures September 2022. Moody's
expects Bruin to have about $85 million of positive free cash flow
through Q3 2020. Moody's expects Bruin to be in compliance with its
two financial covenants (maximum debt/EBITDAX of 4.0x and a minimum
current ratio of 1.0x). Alternate liquidity is limited with
reserves pledged to the borrowing base facility and limited ability
to sell assets outside of the core Fort Berthold and Williams
acreage.

The stable outlook assumes the company will grow production towards
40,000 boe/d while maintaining retained cash flow to debt between
25% to 30% and adequate liquidity through 2020.

The ratings could be upgraded if production approaches 50,000
boe/d, retained cash flow to debt is above 30% and there is a
sufficient track record such that the leveraged full-cycle ratio
can be adequately predicted to remain above 1.5x.

The ratings could be downgraded if production declines, retained
cash flow to debt falls below 15% or the leveraged full-cycle ratio
falls below 1x.

Bruin E&P Partners, LLC is a private equity backed exploration and
production company with primary operations in the Williston Basin
Bakken in North Dakota.

The principal methodology used in these ratings was Independent
Exploration and Production Industry published in May 2017.


BUSY B'S: Seeks to Hire Bunbury & Associates as Real Estate Broker
------------------------------------------------------------------
Busy B's, LLC, seeks approval from the U.S. Bankruptcy Court for
the Western District of Wisconsin to hire a real estate broker.

In an application filed in court, the Debtor proposes to employ
Bunbury & Associates Realtors in connection with the sale of these
real properties in Wisconsin:

     (1) Lots 2 and 5 of Deer Run Road, Sunrise Lane in the Village
of Fall River, Columbia County, Wis., at a listing price of
$792,000 (35.43 acres);

     (2) Lot 52 of Deer Run Road in the Village of Fall River,
Columbia County, Wis., at a listing price of $85,000 (0.75 acres);


     (3) Lot 4 of Church Street in the Village of Fall River,
Columbia County, Wis., at a listing price of $169,000 (6.84 acres);
and

     (4) Lot 45 of Cardinal Lane in the Village of Fall River,
Columbia County, Wis., at a listing price of $65,000 (0.44 acres).

The firm will get a commission of 6 percent of the gross sales
price for each property sold.  

Steve Forrer, a real estate broker, disclosed in court filings that
he neither holds nor represents any interest adverse to the
interest of the Debtor's bankruptcy estate.

Bunbury & Associates can be reached through:

     Steve Forrer
     Bunbury & Associates Realtors
     2970 Chapel Valley Road, Suite 104
     Madison, WI 53711
     Phone: (608) 441-7777
     Fax: (608) 441-7077

                         About Busy B's LLC

Busy B's LLC, which operates a farm known as Busy B's Partnership,
filed a Chapter 11 petition (Bankr. W.D. Wis. Case No. 19-10706) on
March 15, 2019.  In the petition signed by Donald Borde, member,
the Debtor disclosed $255,000 in assets and $5,941,258 in
liabilities.  

James A. Borde, member, also filed a Chapter 11 petition on March
15, 2019 and later on June 17, 2019, his brother Donald A. Borde.
The three cases are now jointly administered.  Judge Brett H.
Ludwig is the case judge.  

Paul Swanson, Esq., at Steinhilber Swanson LLP, represents the
Debtor.


C.T.W. REALTY: Wilmington Trust Objects to Disclosure Statement
---------------------------------------------------------------
Wilmington Trust, N.A., as Trustee for the Benefit of the Holders
of LCCM 2017-LC26 Mortgage Trust Commercial Mortgage Pass- Through
Certificates, Series 2017-LC26, submits a reservation of rights and
objection to the First Amended Disclosure Statement for Plan of
Reorganization by C.T.W. Realty Corp.

The Secured Creditor points out that while the Amended Disclosure
Statement makes significant changes to the Debtor's proposed plan,
not all of these are addressed in the Debtor's reply to the Secured
Creditor's objection to the disclosure statement that the Amended
Disclosure Statement purports to amend.

The Secured Creditor further points out that if the Debtor does not
obtain Reinstatement or accomplish a Refinancing and also does not
pursue a sale, then the Amended Plan is a sham and misleads
creditors.

According to the Secured Creditor, the Debtor alleges (without
evidence) that under Refinancing or Reinstatement, all parties will
be paid in full and, most importantly for the Debtor, the owner
will retain its ownership interest in the property.

The Secured Creditor asserts that based on additions to the Amended
Disclosure Statement, it appears the Debtor is now seeking to
bypass votes from creditors altogether.

Attorneys for Wilmington Trust:

     Gary F. Eisenberg, Esq.
     1155 Avenue of the Americas, 22nd Floor
     New York, NY 10036
     Telephone: (212) 262-6900
     Fax: (212) 977-1649
     Email: geisenberg@perkinscoie.com

                 About C.T.W. Realty Corp.

C.T.W. Realty Corp. is a single asset real estate company which was
formed for the ownership and management of that certain commercial
property located at 55-59 Chrystie Street, New York, NY 10002.

On May 6, 2019, Wilmington Trust, N.A., as Trustee for the Benefit
of the Holders of LCCM2017-LC26 Mortgage Trust Commercial Mortgage
Pass-Through Certificates, Series 2017-LC26, filed Motion To Excuse
Compliance By Receiver With 11 U.S.C. Sec. 543.  On June 4, 2019,
the Court entered an order granting the Receiver Motion.

C.T.W. Realty Corp., based in New York, NY, filed a Chapter 11
petition (Bankr. S.D.N.Y. Case No. 19-11425) on May 1, 2019.  In
the petition was signed by Gary M. Tse, president, the Debtor
estimated $10 million to $50 million in both assets and
liabilities.  Steven B. Smith, Esq., at Herrick Feinstein LLP,
serves as bankruptcy counsel to the Debtor.


CAMBRIAN HOLDING: Bingham Greenebaum Updates Term Lender Group
--------------------------------------------------------------
In the Chapter 11 cases of Cambrian Holding Company, Inc., et al.,
the law firm of Bingham Greenebaum Doll, LLP filed an amended
report under Rule 2019 of the Federal Rules of Bankruptcy
Procedure, to disclose an updated list of Term Lender Group that it
is representing.

In or around July 2018, the Term Lender Group engaged BGD to
represent it, through its administrative and collateral agent,
Deutsche Bank Trust Company Americas, as Kentucky counsel.

In or around August 2019, OneBeacon Insurance Company engaged BGD
to represent it as Kentucky Counsel in an adversary proceeding
pending as Cambrian Holding Company, Inc., et al. v. Kentucky
Department of Workers Claims, et al., Adversary Case No. 19-05013,
and in the Chapter 11 Cases generally.

BGD does not represent or purport to represent any entities other
than DBTCA and OneBeacon in the Chapter 11 Cases.

Upon information and belief formed after due inquiry, BGD does not
hold any claim against, or interests in, the Debtors or their
estates, other than claims for fees and expenses incurred in
representing DBTCA and OneBeacon.

The Firm can be reached at:

          BINGHAM GREENEBAUM DOLL, LLP
          James R. Irving, Esq.
          3500 PNC Tower
          101 South Fifth Street
          Louisville, KY 40202
          Phone: (502) 587-3606
          E-mail: jirving@bgdlegal.com

A copy of the Rule 2019 filing, downloaded from PacerMonitor.com,
is available at https://is.gd/BWNNCu

                    About Cambrian Holding

Belcher, Kentucky-based Cambrian Holding Company, Inc., and its
subsidiaries produce and process metallurgical coal and thermal
coal for use by utility providers and industrial companies located
primarily in the eastern United States and Canada.  The company
began operations in 1991 and, over time, acquired various mines and
mining-related assets from major coal corporations.

Cambrian Holding Company and 18 of its affiliates each filed a
petition seeking relief under Chapter 11 of the Bankruptcy Code
(Bankr. E.D. Ky. Lead Case No. 19-51200) on June 16, 2019.

The Debtors tapped Frost Brown Todd LLC as counsel; Whiteford,
Taylor & Preston, LLP, as litigation counsel; Jefferies LLC as
investment banker; and FTI Consulting, Inc., as financial advisor.
Epiq Corporate Restructuring, LLC, is the notice, claims and
solicitation agent.

The Office of the U.S. Trustee appointed an official committee of
unsecured creditors on June 26, 2019.  The committee tapped Foley &
Lardner LLP as legal counsel; Barber Law PLLC as local counsel; and
B. Riley FBR, Inc. as financial advisor.


CEDAR GROVE: U.S. Trustee Unable to Appoint Committee
-----------------------------------------------------
No official committee of unsecured creditors has been appointed in
the Chapter 11 case of Cedar Grove LLC as of Sept. 17, according to
a court docket.
  
                         About Cedar Grove
  
Cedar Grove LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Minn. Case No. 19-50627) on Aug. 6,
2019.  At the time of the filing, the Debtor disclosed assets of
between $100,001 and $500,000 and liabilities of the same range.
The case has been assigned to Judge Robert J. Kressel.  Ronan R.
Blaschko, Esq., is the Debtor's bankruptcy counsel.


CHESAPEAKE ENERGY: S&P Cuts ICR to 'SD' on Debt For Equity Exchange
-------------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on Chesapeake
Energy Corp.  to 'SD' from 'B+'.

At the same time, S&P lowered its issue-level ratings on the
company's 4.875% notes due 2022, 5.75% notes due 2023, 5.5%
convertible notes due 2026, and 8% notes due 2027 to 'D' from 'B+'.
It also lowered its issue-level rating on the company's 5.75%
convertible preferred stock to 'D' from 'CCC+'.

The downgrade follows Chesapeake's announcement that it has entered
into a privately negotiated transaction in which it will exchange
stock, valued at about 15% of the company, for certain unsecured
notes maturing between 2022 and 2027 and preferred stock. On a
combined basis, the exchanges will be made at about 0.85 on the
dollar. S&P views these transactions as distressed based on the
discounted trading levels of the securities prior to the
announcement, the company's upcoming maturity schedule (about $600
million maturing in 2020 and 2021), high debt levels, and its
expectation that it will outspend operating cash flows over at
least the next two years.

The negotiated transaction includes approximately 250.7 million
common shares for:

-- Approximately $40 million of its 5.75% convertible preferred
stock;

-- Approximately $112.7 million of its 4.875% notes due 2022;

-- Approximately $129.3 million of its 5.75% notes due 2023;

-- Approximately $155.8 million of its 5.5% convertible notes due
2026; and

-- Approximately $150 million of its 8.0% notes due 2027.

"This transaction is inconsistent with our previous expectations,
which had contemplated the company using its credit facility and
discretionary cash flow to repay upcoming maturities as they came
due. Additionally, the company stated that it may engage in similar
transactions but is under no obligation to do so," S&P said.

"We expect to review the company and its capital structure once we
believe no further transactions we could view as distressed will
occur," the rating agency said.


CIENA CORP: S&P Raises ICR to 'BB+' on Continued Strong Performance
-------------------------------------------------------------------
S&P Global Ratings raised its issuer credit rating on Ciena Corp.
to 'BB+' from 'BB'. The outlook is stable.

S&P said, "At the same time, we are raising our issue-level rating
on the company's $700 million senior secured term loan to 'BB+'
from 'BB'. The recovery rating on this debt remains 3, indicating
our expectation for meaningful recovery (50%-70%; rounded estimate:
55%) of principal in the event of a payment default."

"The rating action reflects our view of Ciena's continued
improvements in its business fundamentals, market share gains over
the past few years, better operating margins, and minimal leverage
over the past few quarters. The company holds cash of about $843
million, as compared to its outstanding $700 million term loan.
Ciena's performance in 2019 is especially strong, as the company is
projected to grow revenues by 15% in a market growing in the
low-single-digit area."

"The stable outlook reflects our expectation that Ciena will
benefit from continued product demand and a diversifying customer
base, resulting in revenue growth in the mid-single-digit area and
better margins over the next 12 months."

"We could lower the rating if the company falls behind on product
development and faces EBITDA declines, or if it executes
debt-funded share buybacks such that net leverage increases to
above the 2x area."

"An upgrade is unlikely given our view that Ciena's customer
concentration metrics and business diversity are somewhat weaker
than those of its investment-grade peers, resulting in volatile
performance and significant drops in profitability during times of
capex investment weakness. Over the longer term, we could consider
an upgrade if the company continues to improve the scale of its
software and services business and we come to view Ciena as less
tied to the telco capex cycle."


COLONIAL OAKS: Seeks to Hire Marcus & Millichap as Broker
---------------------------------------------------------
Colonial Oaks Mobile Home Park LLC filed with the U.S. Bankruptcy
Court for the District of Oregon an amended application to hire
Marcus & Millichap as its real estate broker.

The Debtor tapped the firm to list and market a mobile home park
located at 934 South Main St., Independence, Ore.  

Marcus & Millichap will get a commission fee of 6 percent of the
gross sales price.

The firm does not have any interest adverse to the interest of the
Debtor's bankruptcy estate, creditors and equity security holders,
according to court filings.

Marcus & Millichap maintains an office at:

     Marcus & Millichap
     111 SW 5th Avenue, Suite 1950
     Portland, OR 97204
     Tel: (503) 200-2000
     Fax: (503) 200-2010

             About Colonial Oaks Mobile Home Park

Colonial Oaks Mobile Home Park, LLC, a single asset real estate as
defined in 11 U.S.C. Section 101(51B), has principal assets located
at 934 Main St. Independence, Ore.

Colonial Oaks Mobile Home Park filed a voluntary petition under
Chapter 11 of the Bankruptcy Code (Bankr. D. Ore. Case No.
18-33183) on Sept. 12, 2018.  In the petition signed by Susan
Daniell, member, the Debtor estimated $1 million to $10 million in
assets and liabilities as of the bankruptcy filing.  The case is
assigned to the Hon. Trish M. Brown.  Nicholas J. Henderson, Esq.,
at Motschenbacher & Blattner, LLP, is the Debtor's counsel.


COLORADO GOLDFIELDS: Oct. 23 Hearing on Disclosure Statement
------------------------------------------------------------
A Disclosure Statement and a Plan under Chapter 11 of the
Bankruptcy Code has been filed by Creditor Recreation Properties,
Ltd., on September 12, 2019.  The hearing to consider the adequacy
of and to approve the Disclosure Statement will be held at 10:30
a.m. on Wednesday, October 23, 2019, at 10:30 a.m. in Courtroom C,
U.S. Bankruptcy Court, U.S. Custom House, 721 19th Street, Denver,
Colorado.  Objections to the Disclosure Statement shall be filed
and served on or before October 17, 2019.

Under the RPL Plan, Class 3(a) - general unsecured claims held by
non-insiders of the Debtor are impaired. The Class 3(a) Claims
shall receive a pro-rata distribution of the assets of the Debtor
(other than Newco Stock) not otherwise distributed to Newco (i.e.
the only remaining assets of the Debtor will consist of the funds
received from the Capital Contribution).

Class 2 - secured claim of Todd C. Hennis, Pride of the West, LLC,
San Juan Corp. and Salem Minerals, Inc are impaired. Class 2 Claims
shall receive the treatment contemplated by the Settlement
Agreement.

Class 3(b) - general unsecured claims held by insiders of the
Debtor are impaired. The Class 3(b) Claims shall receive a pro-rata
distribution of the assets of the Debtor (other than Newco Stock)
not otherwise distributed to the Newco (i.e. the only remaining
assets of the Debtor will consist of the funds received from the
Capital Contribution).

Class 4 - Debtor's equity are impaired. Receives nothing.

The assets of the Debtor include the following: Cash, Reclamation
Permit, Corporate Shell and Tax Attributes and Mining Interests.

A full-text copy of the Disclosure Statement dated September 12,
2019, is available at https://tinyurl.com/yxcpcnaj from
PacerMonitor.com at no charge.

Attorneys for RPL:

     Shaun A. Christensen, Esq.
     Appel, Lucas & Christensen, P.C.
     1624 Market Street, Suite 310
     Denver, Colorado 80202
     (303) 297-9800
     Email: christensens@appellucas.com

                About Colorado Goldfields Inc.

Lakewood, Colo.-based Colorado Goldfields Inc. is a mining
exploration stage company engaged in the acquisition and
exploration of mineral properties, primarily for gold, silver,
zinc, copper and lead, and the milling and processing of ore from
both owned and non-owned mining properties.

Creditors EnviroSource Corp., Recreation Properties, Ltd. and Todd
Hennis filed a Chapter 7 involuntary petition against Colorado
Goldfields Inc. (Bankr. D. Colo. Case No. 16-20910) on November 8,
2016.  On February 1, 2019, the case was converted to one under
Chapter 11 (Bankr. D. Colo. Case No. 16-20910).  The case has been
assigned to Judge Michael E. Romero.

John C. Smiley was appointed as Chapter 11 trustee for Colorado
Goldfields on February 13, 2019.


COMPREHENSIVE QUALITY: Case Summary & 12 Unsecured Creditors
------------------------------------------------------------
Debtor: Comprehensive Quality Care Inc. Foundation
        3517 S. Martin Luther King Dr.
        Chicago, IL 60653

Business Description: Comprehensive Quality Care, Inc. Foundation
                      is a home care provider that services
                      Chicago, Illinois.  Home care services allow
                      seniors to remain safely in their own home
                      while receiving medical care or assistance
                      with personal care and other daily tasks.
                      Services vary, but some providers offer
                      companionship services or skilled home
                      health care services for individuals who
                      require ongoing health monitoring,
                      assistance with administering medications or

                      wound care.

Chapter 11 Petition Date: September 18, 2019

Court: United States Bankruptcy Court
       Northern District of Illinois (Eastern Division)

Case No.: 19-26364

Judge: Hon. LaShonda A. Hunt

Debtor's Counsel: John J. Lynch, Esq.
                  LYNCH LAW OFFICES, P.C.
                  1011 Warrenville Road, Suite 150
                  Lisle, IL 60532
                  Tel: 630-960-4700
                  Fax: 630-960-4755
                  E-mail: jlynch@lynch4law.com

Total Assets: $422,875

Total Liabilities: $1,394,800

The petition was signed by John M. Tar, 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/ilnb19-26364.pdf


CON-NIC APARTMENTS: Wins Continued Cash Access Thru Dec. 31
-----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Massachusetts permits
Con-Nic Apartments, LLC, to continue using cash collateral under
the same terms and conditions through Dec. 13, 2019.

A hearing on the Debtor's further use of cash collateral is
scheduled on Dec. 13, 2019 at 12 p.m.

                    About Con-Nic Apartments

Con-Nic Apartments, LLC, owner of two apartment buildings in
Gardner, Massachusetts, filed a Chapter 11 petition (Bankr. D.
Mass. Case No. 18-41697) on Sept. 12, 2018.  In the petition signed
by Mark S. Dymek, member-manager, the Debtor estimated both assets
and liabilities to be less than $1 million.  The Law Offices of
James Wingfield, led by principal James A. Wingfield, serves as
counsel to the Debtor.



COPPER STAR: U.S. Trustee Unable to Appoint Committee
-----------------------------------------------------
No official committee of unsecured creditors has been appointed in
the Chapter 11 case of Copper Star Transportation LLC as of Sept.
17, according to a court docket.
    
                 About Copper Star Transportation
  
Copper Star Transportation LLC sought protection under Chapter 11
of the Bankruptcy Code (Bankr. D. Ariz. Case No. 19-10308) on Aug.
16, 2019.  At the time of the filing, the Debtor had estimated
assets of between $100,001 and $500,000 and liabilities of between
$500,001 and $1 million.  The case has been assigned to Judge
Brenda Moody Whinery.  The Debtor is represented by Bryan Wayne
Goodman, Esq., at Goodman & Goodman, PLC.


COTTONE MARKETING: U.S. Trustee Objects to Disclosure Statement
---------------------------------------------------------------
The United States Trustee for Region 16 has reviewed the disclosure
statement of Cottone Marketing Services, Inc., dba The Embroidery
Store, filed on July 30, 2019 (“D/S”) and accompanying plan of
reorganization.

The U.S. Trustee points out that the summary of Plan payments
appearing on page 42 and in the exhibits is inaccurate insofar as
it does not provide for post confirmation UST fees which continue
to accrue until the case is converted, dismissed or closed.

The U.S. Trustee submits that the D/S in its current form does not
contain adequate information for dissemination and Debtor’s
request for its approval should be denied.

Under the Disclosure Statement, Class 4(a) - General Unsecured
Claims with total amount of $246,782, will be paid $100 for months
1-52, and $7,552 for months 53-60, with payment beginning on the
effective date of the Plan.

A full-text copy of the Disclosure Statement is available at
https://tinyurl.com/y2e9r467 from PacerMonitor.com at no charge.

Cottone Marketing Services, Inc., filed a Chapter 11 Petition
(Bankr. C.D. Cal. Case No. 19-10922) on March 15, 2019, and is
represented by Andy C. Warshaw, Esq.


CP#1109 LLC: Oct. 22 Hearing on Disclosure Statement
----------------------------------------------------
The hearing to consider approval of the disclosure statement
explaining the Chapter 11 plan of CP#1109, LLC, will be on October
22, 2019 at 1:30 p.m.  Deadline for objections to disclosure
statement will be on October 15, 2019 (seven days before Disclosure
Hearing).

                     About CP#1109 LLC

CP#1109, LLC sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. S.D. Fla. Case No. 18-25821) on Dec. 20, 2018.  At the
time of the filing, the Debtor estimated assets of less than $1
million and liabilities of less than $500,000.  The case is
assigned to Judge Mindy A. Mora.  AM Law, LLC, is the Debtor's
counsel.


CPM HOLDINGS: S&P Lowers ICR to 'B-' on Operational Missteps
------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on Waterloo,
Iowa-based process systems and equipment producer CPM Holdings Inc.
(CPM) to 'B-' from 'B'.  At the same time, S&P lowered its
issue-level rating on the company's first-lien debt by one notch to
'B-' from 'B' and its issue-level rating on the second-lien debt to
'CCC+' from 'B-'. S&P's '3' recovery rating on the first-lien debt
and '5' recovery rating on the second-lien debt remain unchanged.

The company's weaker-than-expected operating performance should
result in an S&P Global Ratings-adjusted debt-to-EBITDA ratio in
the mid-8x range in fiscal 2019, improving to the low-7x area in
2020. CPM Holdings Inc.'s (CPM's) engineered process systems and
thermal and extrusion segments' performance (combined 56% of 2018
revenues) was weaker than S&P had anticipated. In 2019, revenues in
the extrusion segment declined by double-digit percent due to
persistent softness in auto sales volumes in China. Revenues in the
engineered systems segment declined by a high-single-digit percent
due to slower demand for oilseed processing in North America and
Europe. These two factors contributed to an overall 5.2% revenue
decline in the 12 months ending in June 30, 2019. In the same
period, EBITDA margin declined about 100 basis points due to volume
declines, $5 million of cost overruns related to a large project in
Brazil, and $8 million of supply chain issues in the thermal
segment in Europe. S&P expects the company will focus on
streamlining its project execution and procurement activities
globally, which should improve operating results over the next 12
months. Still, S&P expects debt leverage to remain high. The rating
agency now expects debt to EBITDA to be in the mid-8x range at the
end of 2019, materially weaker than its previous expectation of
low-7x for the year. As the company reduces one-time costs, S&P
expects leverage to decline to the low-7x area by the end of fiscal
2020."

The stable outlook on CPM reflects S&P's expectation that the
company's EBITDA margins will revert to historical levels and its
debt-to-EBITDA ratio will improve to low-to-mid 7x area over the
next twelve months as the company overcomes its recent operational
challenges.  It also expects CPM to generate consistently positive
free operating cash flow in the $20 million to $30 million range
and maintain adequate liquidity.

"We could lower our rating if the company's EBITDA shrinks further
and free operating cash flows (FOCF) turn negative, causing the
company to borrow additional amounts on its revolving credit
facility and triggering the springing first-lien leverage covenant.
This could occur, for instance, if customers delay capital
expenditures and CPM continues to face operating challenges," S&P
said, adding that under this scenario, it believes weaker credit
measures and constrained liquidity would indicate an unsustainable
capital structure.  

"Although unlikely during the next 12 months, we could raise our
rating if CPM's S&P Global Ratings-adjusted debt to EBITDA
approaches 6.5x and we expect the company to sustain this improved
leverage level. This could occur if the company experiences strong
growth across most or all of its end markets and EBITDA margin
improves by 300 basis points above our current forecast," S&P said.
The rating agency would also need to believe that the company's
financial policies would support operating with leverage of 6.5x or
lower.


DCG ACQUISITION: Moody's Assigns B3 CFR, Outlook Stable
-------------------------------------------------------
Moody's Investors Service assigned DCG Acquisition Corp. a B3
Corporate Family Rating and B3-PD probability of default rating.
Moody's also assigned a B2 rating to the proposed $540 million
first lien term loan and $90 million revolving credit facility, as
well as a Caa2 rating to the proposed $190 million second lien term
loan. The proposed transaction includes a committed $110 million
first lien delayed draw term loan (unfunded at close) to be used
for future bolt-on acquisitions. The outlook is stable. Proceeds
from the term loan, as well as equity contribution from the
sponsor, will be used to finance Altas Partners’ acquisition of
the company from The Jordan Company as well as estimated fees and
expenses.

"The B3 Corporate Family Rating reflects DuBois Chemicals' elevated
leverage, increased debt levels as a result of the acquisition by
new private equity ownership, lack of scale and limited geographic
diversification offset by the company's consistent free cash flow
generation and large, diversified customer base" said Domenick R.
Fumai, Vice President and lead analyst.

Assignments:

Issuer: DCG Acquisition Corp.

  Probability of Default Rating, Assigned B3-PD

  Corporate Family Rating, Assigned B3

  Senior Secured 1st Lien Term Loan, Assigned B2 (LGD3)

  Senior Secured 1st Lien Delayed Draw Term Loan, Assigned
  B2 (LGD3)

  Senior Secured 1st Lien Revolving Credit Facility,
  Assigned B2 (LGD3)

  Senior Secured 2nd Lien Term Loan, Assigned Caa2 (LGD5)

Outlook Actions:

Issuer: DCG Acquisition Corp.

  Outlook, Assigned Stable

RATINGS RATIONALE

DuBois Chemicals' Debt/EBITDA based on the last twelve months ended
June 30, 2019, including Moody's standard adjustments, will remain
elevated in the low 7.0x following the proposed leveraged buyout by
Altas Partners, which will add approximately $75 million of
incremental debt. DuBois Chemicals' financial leverage has been
sustained above 6.5x since 2017 due to continued debt-funded
acquisitions and modest growth. The B3 CFR is constrained by the
company's lack of size and scale, limited organic growth prospects,
risks associated with private equity ownership and integration risk
associated with its acquisitive business strategy. DuBois
Chemicals' rating is supported by its stable cash flow generation,
strong EBITDA margins, long-term relationships with customers in
niche end-markets, and low capital requirements.

Moody's estimates interest coverage at 2.0x and pro-forma financial
leverage at 7.5x for the twelve months ended June 30, 2019. Moody's
leverage calculation does not add-back all items allowed by the
credit agreement. Due to modest organic growth and expectations for
continued acquisitions, Moody's expects pro forma leverage to
remain above 7.0x over the next 12-18 months. Moody's does not
forecast any material debt reduction over the rating horizon and
expects excess cash in addition to the delayed draw term loan to be
applied towards acquisitions. Due to ongoing one-time costs
associated with integration, the rating assumes that the company
will generate at least 3% retained cash flow/debt (RCF/Debt) and
roughly $15 million of free cash flow in 2020.

Moody's also considers environmental, social and governance risks
into the rating. Environmental and social risks are low for DuBois
Chemicals compared to other chemical companies. However, the
company's private equity ownership is a constraining factor in the
rating due to elevated governance risk. Firms owned by private
equity sponsors often operate with more aggressive financial
policies that include large debt-financed dividends and
acquisitions.

DuBois Chemicals has good liquidity supported by modest cash
balances, expectations for positive free cash flow over the rating
horizon and a $90 million revolving credit facility that has been
upsized from $50 million and is expected to be undrawn at closing.
The revolver only contains a springing maximum first lien net
leverage covenant of 7.75x once utilization exceeds 35%, which
Moody's does not expect to be triggered due to positive cash flow
generation and the company's historically limited reliance on the
revolver to fund operations.

The stable outlook reflects expectations for continued positive
free cash flow generation, maintaining sufficient liquidity for
operations and modest deleveraging over the medium term from
continued acquisitions.

Following the close of the acquisition, the capital structure is
expected to be comprised of a $90 million first lien revolving
credit facility, $540 million first lien term loan, and $190
million second lien term loan. The B2 ratings on the first lien
credit facilities, one notch above the B3 CFR, reflect the
preponderance of first lien debt in the capital structure and first
lien security interest on substantially all assets. The Caa2 rating
on the second lien term loan, two notches below the B3 CFR,
reflects its subordination to the first lien facilities.

Moody's could downgrade the rating if free cash flow turns negative
for a sustained period, if there is a substantial deterioration in
liquidity, or a significant dividend recapitalization. Although an
upgrade is unlikely in the near-term, Moody's could upgrade the
rating if leverage was sustained below 6.0x and free cash flow to
debt (FCF/Debt) is maintained above 5%.

DuBois Chemicals, headquartered in Sharonville, Ohio, provides
consumable, value-added specialty cleaning chemical solutions and
services for manufacturing industrial processes. The company's
extensive range of products include metalworking fluids, industrial
lubricants, rust inhibitors, water treatment solutions, food and
beverage sanitation, as well as performance improving chemistries
for the paper and pulp industries. The company also serves the
consumer car wash and fleet transportation wash markets. Private
equity sponsor, The Jordan Company, LP has reached a definitive
agreement to sell DuBois Chemicals to Altas Partners. The company
generated revenue of $437 million for the last twelve months ended
June 30, 2019.

The principal methodology used in these ratings was Chemical
Industry published in March 2019.


DIETCH'S FLORIST: Taps Mark Band as Accountant
----------------------------------------------
Dietch's Florist, Inc., received approval from the U.S. Bankruptcy
Court for the District of New Jersey to hire Mark Band, Inc. as its
accountant.

The firm will provide services in connection with the Debtor's
Chapter 11 case, which include the analysis of its financial
records, evaluation of its financial condition, and the preparation
of its monthly operating reports, financial statements and tax
returns.

The firm charges an hourly fee of $250 for its services.

Mark Band is "disinterested" within the meaning of Section 101(14)
of the Bankruptcy Code, according to court filings.

The firm can be reached through:

     Mark Band
     Mark Band, Inc.
     250 Pehle Ave., Suite 200
     Saddle Brook, NJ 07663

                      About Dietch's Florist

Dietch's Florist, Inc. sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D.N.J. Case No. 19-25525) on Aug. 11, 2019.
At the time of the filing, the Debtor was estimated to have assets
of less than $50,000 and liabilities of less than $500,000.  The
case is assigned to Judge John K. Sherwood.  The Debtor is
represented by David L. Stevens, Esq., at Scura, Wigfield, Heyer,
Stevens & Cammarota, LLP.


DURR MECHANICAL: Unsecureds' Recovery Unknown Under Plan
--------------------------------------------------------
Durr Mechanical Construction, Inc., filed a Chapter 11 Plan and
accompanying Disclosure Statement.

Class 4: Unsecured Claims. Each Holder of an Allowed Class 4 Claim
shall receive, in full, final and complete satisfaction,
settlement, release, and discharge of such Claim, its Pro Rata
Share of Available Funds, subordinate and subject to approved carve
outs, reserves and/or operating funds for (i) the U.S. Trustee fees
and (ii) the Liquidating Trustee for fees and expenses (including
any of his Professionals or the Debtor's employees) in connection
with the Liquidating Trust, and after payment in full of allowed
Administrative Expense Claims, Allowed Claims in Class 2, Allowed
Priority Tax Claims and Allowed Claims in Class 3, except as
otherwise agreed with the holder of such Claims.

Distributions to Allowed Claimants under the Plan will be funded
from the Available Funds, which predominantly include and consist
of the recoveries from the Affirmative Claims.

A full-text copy of the Disclosure Statement dated September 13,
2019, is available at https://tinyurl.com/y4x8vajtb from
PacerMonitor.com at no charge.

Counsel to the Debtor:

     Adam P. Wofse, Esq.
     Gary F. Herbst, Esq.
     LaMonica Herbst & Maniscalco, LLP
     3305 Jerusalem Avenue
     Wantagh, New York 11793
     Tel: 516.826.6500

                   About Durr Mechanical

Durr Mechanical Construction, Inc. -- http://www.durrmech.com/--
is a mechanical contracting company headquartered in New York. It
offers commercial HVAC, scheduling and cost control, BIM drafting,
erecting and setting equipment, process piping, power piping, and
emergency services.

Durr Mechanical Construction filed a voluntary petition for
reorganization under Chapter 11 of Title 11 of the United States
Code (Bankr. S.D.N.Y. Case No. 18-13968) on Dec. 7, 2018.  In the
petition signed by Kenneth A. Durr, president, the Debtor estimated
$100 million to $500 million in assets and $50 million to $100
million in liabilities.  LaMonica Herbst & Maniscalco, LLP, led by
Michael Thomas Rozea, and Adam P. Wofse, serves as counsel to the
Debtor.  


DYNATRACE LLC: S&P Affirms 'B' ICR on IPO, Debt Repayment
---------------------------------------------------------
S&P Global Ratings affirmed its 'B' issuer credit rating on
Waltham, Mass.-based Dynatrace LLC, with a stable outlook.

Dynatrace recently completed its $590 million initial public
offering (net proceeds) and repaid approximately $298 million in
borrowings under its first-lien term loan and repaid the entire
$88.8 million outstanding under its second-lien term loan.

S&P withdrew its 'CCC+' issue-level rating on the second-lien term
loan following the repayment.  Meanwhile, the issue-level rating on
the company's first-lien term loan remains 'B', with a '3' recovery
rating.

The rating agency's affirmation of Dynatrace's issuer credit rating
and stable outlook is based on its view that leverage is likely to
remain over 5.0x for the next 12 months, despite recent substantial
debt repayments. It also incorporates an expectation for robust
levered free cash flow (FCF), driven primarily by healthy billings
growth and industry fundamentals, such that it anticipates FCF to
debt to stay well above 10% during its projected period for the
current rating. The company's solid market position as the provider
of application performance management (APM) software also supports
the rating.

The stable outlook reflects S&P's expectation that free cash flow
generation will remain strong as the company continues to increase
revenues in line with the rating agency's expectations for the APM
software industry, while generating free operating cash flow (FOCF)
to debt above 5% and deleveraging toward 5.0x debt to EBITDA.

"We could raise the rating on Dynatrace if the company is
successful in substantially increasing software as a service (SaaS)
revenues above expectations, while gaining EBITDA scale, and
continues to prioritize debt reduction, such that it sustains
leverage below 5x and FOCF to debt stays above 10%," S&P said.

"We could lower the rating on Dynatrace if loss of share within
core APM markets, margin erosion due to transition away from
perpetual license sales, or poor execution on separation leads to
weaker EBITDA and cash flow such that leverage remains elevated
above 8x, or FOCF to debt subsides below 5%," the rating agency
said.


EKKA INTERNATIONAL: Unsecureds to Get Monthly Payments of $2,011
----------------------------------------------------------------
Ekka International Co., Ltd., filed a small business Chapter 11
plan and accompanying disclosure statement proposing that general
unsecured class will get monthly payments of $2,011, payable
quarterly.  Payments begin in Effective date of plan. Payments end
at 120 months.

The equity security holders in this Class shall Receive no
distribution under the plan.

Payments and distributions under the Plan will be funded by the
following: Future revenue of the Debtor's operations.

A full-text copy of the Disclosure Statement dated September 12,
2019, is available at https://tinyurl.com/y5fr7gzd from
PacerMonitor.com at no charge.

              About Ekka International Co. Ltd.

Ekka International Co., Ltd., which operates under the names R & N
US, Inc. and Joyware, Inc., manufactures rugs and kitchenwares.

Ekka International sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Ill. Case No. 19-09553) on April 2,
2019.  At the time of the filing, the Debtor disclosed $71,219 in
assets and $1,642,288 in liabilities.  The case is assigned to
Judge LaShonda A. Hunt.  Borges & Wu, LLC, is the Debtor's counsel.


ELK PETROLEUM: Commnet Objects to Disclosure Statement
------------------------------------------------------
Commnet Four Corners, LLC, files a limited objection and
reservation of rights with respect to the (a) Disclosure Statement
for Joint Plan of Reorganization of Elk Petroleum Aneth, LLC, and
Resolute Aneth, LLC.  

According to Commnet that the Disclosure Statement does not provide
adequate information because the Plan Debtors reserve the right to
reject the License Agreement.

Commnet points out that it is entitled to know whether the Debtor
will assume or reject the License Agreement before it decides
whether to vote in favor of the Plan.

Commnet further points out that the rejection of the License
Agreement does not benefit the estate; rejection would only lead to
a substantial rejection damage claim, conversely, the assumption of
the License Agreement places minimal burden on the estate, for this
reason, rejection should not be authorized even under the business
judgment standard.

Commnet complains that the Debtors have failed to show that the
License Agreement burdens the estate, that the equities favor
rejection, or that rejection would further reorganization.

Attorneys for Commnet:

     Jeffrey C. Wisler, Esq.
     CONNOLLY GALLAGHER LLP
     1201 N. Market Street, 20th Floor
     Wilmington, DE 19801
     Phone: (302) 757-7311
     Fax: (302) 658-0380
     E-mail: jwisler@connollygallagher.com

        -- and --

     Peter A. Cal, Esq.
     SHERMAN & HOWARD L.L.C.
     633 Seventeenth Street, Suite 3000
     Denver, CO 80202
     Phone: (303) 297-2900
     Fax: (303) 298-0940
     E-mail: pcal@shermanhoward.com

                  About Elk Petroleum

Elk Petroleum Inc. -- https://www.elkpet.com/ -- is an oil and gas
company specializing in enhanced oil recovery (EOR).

Elk Petroleum and its affiliates sought protection under Chapter 11
of the Bankruptcy Code (Bankr. D. Del. Lead Case No. 19-11157) on
May 22, 2019.  At the time of the filing, Elk Petroleum estimated
assets of between $1 million and $10 million and liabilities of
less than $50,000.  The petition was signed by Scott M.
Pinsonnault, chief restructuring officer.

The Debtors tapped Norton Rose Fulbright US LLP and Womble Bond
Dickinson (US) LLP as legal counsel; Ankura Consulting Group, LLC,
as restructuring advisor; Opportune LLP as valuation analysis
provider; and Bankruptcy Management Solutions, Inc., as claims and
noticing agent.

Andrew Vara, acting U.S. trustee for Region 3, on June 19 appointed
three equity security holders to serve on the committee of
preferred equity security holders in the Chapter 11 case of Elk
Petroleum, Inc.

The Office of the U.S. Trustee on May 31 disclosed in a court
filing that no official committee of unsecured creditors has been
appointed in the Chapter 11 cases of Elk Petroleum, Inc. and its
affiliates.


EP ENERGY: Obtains Forbearance Through September 22
---------------------------------------------------
As previously disclosed, EP Energy Corporation did not make the
approximately $40.0 million cash interest payment due and payable
on Aug. 15, 2019 with respect to the 8.00% Senior Secured Notes due
2025 issued by EP Energy LLC and Everest Acquisition Finance Inc.,
both wholly-owned subsidiaries of the Company, under the indenture
governing the Notes.

The Company's failure to make the Interest Payment within 30 days
after it was due and payable constitutes an "event of default"
under the Indenture.  The Company said that as active discussions
with certain of its creditors are still ongoing regarding the
Company's evaluation of strategic alternatives, it will not make
the Interest Payment prior to the expiration of the 30 day grace
period, resulting in an event of default under the Indenture.  An
event of default under the Indenture also constitutes an "event of
default" under the Company's Credit Agreement, dated as of May 24,
2012, among EPE Acquisition, LLC, EP Energy LLC, as borrower, the
lenders party thereto and JPMorgan Chase Bank, N.A., as
administrative agent.

On Sept. 14, 2019, certain of the Company's subsidiaries entered
into forbearance agreements with (i) certain beneficial owners
and/or investment advisors or managers of discretionary accounts
for the beneficial owners of greater than 70% of the aggregate
principal amount of the outstanding Notes and (ii) certain lenders
holding greater than a majority of the revolving commitments under
the Credit Agreement and the administrative agent and collateral
agent under the Credit Agreement.

Pursuant to the Forbearance Agreements, subject to certain terms
and conditions, the Noteholders and the Credit Agreement Forbearing
Parties have agreed to temporarily forbear from exercising any
rights or remedies they may have in respect of the aforementioned
events of default.  The Forbearance Agreements terminate at 11:59
p.m. New York City time on Sept. 22, 2019, unless extended or
certain specified circumstances cause an earlier termination.  The
Company cannot provide any assurance that the Noteholders or Credit
Agreement Forbearing Parties will agree to extend the terms of the
Forbearance Agreements.

                        About EP Energy LLC

EP Energy LLC, a wholly-owned subsidiary of EP Energy Corporation
-- http://www.epenergy.com/-- is an independent exploration and
production company engaged in the acquisition and development of
unconventional onshore oil and natural gas properties in the United
States.  The Company operates through a diverse base of producing
assets and is focused on providing returns through the development
of its drilling inventory located in three areas: the Permian basin
in West Texas, the Eagle Ford Shale in South Texas, and the
Altamont Field in the Uinta basin in Northeastern Utah. The Company
is headquartered in Houston, Texas.

EP Energy LLC reported a net loss of $1 billion for the year ended
Dec. 31, 2018, compared to a net loss of $194 million for the year
ended Dec. 31, 2017.  As of June 30, 2019, the Company had $4.19
billion in total assets, $545 million in total current liabilities,
$4.43 billion in total non-current liabilities, and a $785 million
in member's deficit.

                            *   *    *

As reported by the TCR on Aug. 23, 2019, S&P Global Ratings lowered
its long-term issuer credit rating on U.S.-based exploration and
production company EP Energy LLC to 'CC' from 'CCC-'.  The
downgrade follows EP Energy's announcement that it has decided to
defer the coupon payment on its 8% 1.5-lien senior secured notes
maturing 2025 ($1 billion outstanding as of
June 30, 2019).  

In April, 2019, Moody's Investors Service downgraded the ratings of
EP Energy LLC's (EPE) Corporate Family Rating to 'Caa3' from
'Caa1'.  The downgrade of EP Energy's CFR to Caa3 reflects its weak
liquidity, need to repay $182 million of notes maturing in May 2020
and potential for continued negative free cash flow in 2019, if
production volumes remain flat.


EVERGREEN PALLET: Case Summary & 19 Unsecured Creditors
-------------------------------------------------------
Debtor: Evergreen Pallet LLC
        302 West 53rd Street North
        Wichita, KS 67204

Business Description: Evergreen Pallet LLC is a pallet supplier in
Wichita, Kansas.

Chapter 11 Petition Date: September 17, 2019

Court: United States Bankruptcy Court
       District of Kansas (Kansas City)

Case No.: 19-21983

Judge: Hon. Robert D. Berger

Debtor's Counsel: Erlene W. Krigel, Esq.
                  KRIGEL & KRIGEL, PC
                  4520 Main, Suite 700
                  Kansas City, MO 64111
                  Tel: (816) 756-5800
                  E-mail: ekrigel@krigelandkrigel.com

Total Assets: $1,316,600

Estimated Liabilities: $6,624,679

The petition was signed by Jeffrey Ralls, member.

A full-text copy of the petition containing, among other items, a
list of the Debtor's 19 unsecured creditors is available for free
at:

          http://bankrupt.com/misc/ksb19-21983.pdf


FLOORS TODAY: Gets Court OK to Use Cash Thru Nov. 22
----------------------------------------------------
Judge Elizabeth D. Katz of the U.S. Bankruptcy Court for the
District of Massachusetts authorizes Floors Today, LLC, to use cash
collateral on an interim basis through Nov. 22, 2019, pursuant to
the budget.

The Court grants secured creditors replacement liens for their
prepetition interests on the Debtor's postpetition property for any
diminution in the value of the postpetition liens.

Hometown Bank is granted an allowed super-priority administrative
expense claim as further adequate protection for any decrease in
the value of its prepetition collateral arising from the use of
cash collateral.   

Beginning Sept. 20, 2019 and on the 20th of each successive month
thereafter, the Debtor will provide each secured creditor (i) a
budget to actual report with respect to the Budget, and (ii) a copy
of the Debtor's monthly operating report to the Office of the U.S.
Trustee.

The next hearing is set on Nov. 22, 2019 at 12 p.m. (prevailing
Eastern time).  The Debtor must file a reconciliation report of its
actual income and expense for the period from Sept. 1 to Nov. 15,
2019 by Nov. 15.  The Debtor must also file an updated budget for
the period from Oct. 1, 2019 to Jan. 31, 2020 also by Nov. 15.
Objections must be timely filed so as to be actually received by
Nov. 20, 2019.   

                       About Floors Today

Floors Today, LLC -- https://www.floorsandkitchenstoday.com/ --
owns and operates flooring stores offering carpets, tiles, woods,
waterproof floors, laminates, area rugs and more.  The Company also
retails bathroom and kitchen furniture including cabinetry,
countertops, and interior products.  The Company has locations in
the Greater Boston, Providence, and Worcester areas.

Floors Today, LLC, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Mass. Case No. 19-41126) on July 7,
2019.  At the time of the filing, the Company disclosed assets of
between $500,000 to $1 million and liabilities of between $1
million to $10 million.  The petition was signed by the Company's
managing partner, Vincent Virga.  The Hon. Elizabeth D. Katz is the
case judge.  The Company is represented by Donald Ethan Jeffery,
Esq., at Murphy & King, Professional Corporation.


FORM TECHNOLOGIES: S&P Lowers ICR to 'B-'; Outlook Stable
---------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating to 'B-'from 'B'
for Form Technologies LLC.

The company has experienced lower-than-anticipated revenues,
primarily due to weakness in automotive-focused applications. As a
result, S&P expects adjusted debt to EBITDA to be in the mid-7x
range in 2019, before declining to the high-6x range in 2020.

Meanwhile, S&P lowered its issue-level rating on the company's
first-lien term loan to 'B-' from 'B' and its second-lien term loan
to 'CCC+' from 'B-'. The recovery ratings remain unchanged.

S&P said, "The downgrade primarily reflects Form's
weaker-than-expected operating performance, which has led to high
leverage, well above our expectations. We believe this is a result
of the company's exposure to somewhat cyclical end markets. These
weaknesses are partially mitigated by Form's strong geographic
diversity and its highly engineered products and technology, which
we believe will help it to capitalize on trends within certain end
markets."

"The stable outlook reflects our expectation that leverage will
remain above 6.5x over the next 12 months. We believe the company
will improve its performance in the second half of 2019, but that
leverage will remain elevated over the next 12 months. We expect
management will continue to execute its strategic initiatives to
manage costs."

"We could lower our ratings on Form Technologies if performance
remains weaker than expected and leverage continues to increase to
unsustainable levels. This could happen if the company encounters
significant declines in demand in its automotive and consumer
electronics end markets, and these end markets do not rebound.
Also, if continued end-market softness were to result in liquidity
pressures, we could lower the rating."

"We would consider upgrading Form if the company can successfully
reduce its debt-to-EBITDA leverage metric to below 6.5x on a
sustained basis. We would also need to believe the company is
committed to maintaining leverage below these levels."


FRANKIE V'S KITCHEN: Files Litigation Trust Agreement
-----------------------------------------------------
Frankie V's Kitchen, LLC, filed a first amended plan of liquidation
and accompanying disclosure statement to disclose the litigation
trust agreement, a full-text copy of which is available at
https://tinyurl.com/y3uoeo24 and the Unsecured Creditors Trust
Agreement, a full-text copy of which is available at
https://tinyurl.com/y3odww5o from PacerMonitor.com at no charge.

Class 4: General Unsecured Claims are impaired. The holders of
Allowed General Unsecured Claims shall each receive from the
Unsecured Creditor Trustee: (i) to the extent the holder of the
Allowed General Unsecured Claim is not an Opt-Out Party or a
Released Party, a Pro Rata share in the distribution of the Agneto
Settlement Reserve after payment in full of (a) all expenses and
obligations related to the administration of the Unsecured Creditor
Trust, (b) Allowed Unsecured Priority Tax Claims and (c) Allowed
Priority Non-Tax Claims (excluding any Allowed Claim under §
503(b)(9) of the Bankruptcy Code); and (ii) as to all holders of
Allowed General Unsecured Claims, regardless of whether or not they
are an Opt-Out Party, a Pro Rata share in the net distributions of
the Unsecured Creditor Trust Assets other than the Agneto
Settlement Reserve.

Class 2: Agneto Secured claim are impaired. Agneto shall receive:
(i) payment of Cash from the Plan Agent of all funds remaining in
the Estate after payment of all Allowed Administrative Expense
Claims, Allowed Secured Priority Tax Claims, and all Allowed Other
Secured Claims, (ii) a secured claim on the assets of the
Litigation Trust, (iii) a ninety percent (90%) beneficial interest
in the Litigation Trust and (iv) releases from the Releasing
Parties and the Third-Party Releases.

Class 5: Equity Interests are impaired. All Equity Interests shall
be cancelled on the Effective Date.

The Litigation Trust will distribute its assets as follows: first,
to pay the expenses of the Litigation Trust; second, to pay the
Agneto Secured Claim; and third, any remaining funds shall be
distributed 90% to Agneto and 10% to the Unsecured Creditor Trust.

A full-text copy of the First Amended Disclosure Statement dated
September 13, 2019, is available at https://tinyurl.com/yx8qqpc4
from PacerMonitor.com at no charge.

Counsel to Debtor:

     Stephen A. McCartin, Esq.
     Mark C. Moore, Esq.
     Melina T. Bales, Esq.
     FOLEY GARDERE
     FOLEY &LARDNER LLP
     2021 McKinney Ave., Suite 1600
     Dallas, TX 75201
     Telephone: (214) 999-3000
     Facsimile: (214) 999-4667

                 About Frankie V's Kitchen

Frankie V's Kitchen, LLC -- http://www.frankievskitchen.com/--
produces and distributes hot sauces, salsas, dressings and
condiments, gourmet soups, and spreads.

Frankie V's Kitchen sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Texas Case No. 19-31717) on May 20,
2019.  At the time of the filing, the Debtor estimated assets of
between $1 million and $10 million and liabilities of between $10
million and $10 million.  The case is assigned to Judge Stacey G.
Jernigan.  Foley & Lardner LLP is the Debtor's legal counsel.

The Office of the U.S. Trustee on June 3 appointed three creditors
to serve on the official committee of unsecured creditors in the
Chapter 11 case of Frankie V's Kitchen LLC.


FRED'S INC: U.S. Trustee Forms 3-Member Committee
-------------------------------------------------
Andrew Vara, acting U.S. trustee for Region 3, on Sept. 18
appointed three creditors to serve on the official committee of
unsecured creditors in the Chapter 11 cases of Fred's, Inc. and its
affiliates.

The committee members are:

     (1) Bradley Wooldridge
         c/o Shanti Katona, Esq.
         222 Delaware Avenue, Suite 1101
         Wilmington, DE 19801-1611
         Phone: 302-252-0924   

     (2) BWI Companies, Inc.
         Attn: JoAnn Lansdell
         P.O. Box 990
         Nash, TX 75569
         Phone: 903334-0303
         Fax: 903-831-4799   

     (3) WIN Properties, Inc.
         Attn: Rick Yarmy
         10 Rye Ridge Plaza, Suite 200
         Rye Brook, NY 10573
         Phone: 914-468-7300
         Fax: 914-468-7330
  
Official creditors' committees serve as fiduciaries to the general
population of creditors they represent.  They may investigate the
debtor's business and financial affairs. Committees have the right
to employ legal counsel, accountants and financial advisors at a
debtor's expense.

                         About Fred's Inc.

Since 1947, Fred's, Inc. (NASDAQ:FRED) -- http://www.fredsinc.com/
-- has been an integral part of the communities it serves
throughout the southeastern United States.  Fred's mission is to
make it easy AND exciting to save money.  Its unique discount value
store format offers customers a full range of value-priced everyday
items, along with terrific deals on closeout merchandise throughout
the store.

Fred's, Inc.and its subsidiaries, sought Chapter 11 protection on
September 9, 2019 (Bankr. D. Del. Lead Case No. 19-11984) in
Delaware.  The petitions were signed by Joseph M. Anto, chief
executive officer.

Hon. Christopher S. Sontchi presides over the cases.

The Debtors disclosed $474,774,000 in assets and $380,167,000 in
liabilities as of May 4, 2019.

The Debtors tapped Morris, Nichols, Arsht & Tunnell LLP as counsel;
Kasowitz Benson Torres LLP as general bankruptcy counsel; Akin Gump
Strauss Hauer & Feld LLP as special counsel; Epiq Bankruptcy
Solutions LLC as claims and noticing agent; and Berkeley Research
Group, LLC as financial advisor.


GRABAH PRETZEL: Court Conditionally Approves Disclosure Statement
-----------------------------------------------------------------
The Disclosure Statement explaining the Chapter 11 plan of
reorganization of Grabah Pretzel Inc. is conditionally approved.

The Court will conduct a hearing on confirmation of the Plan,
including timely filed objections to confirmation, objections to
the Disclosure Statement, motions for cramdown, applications for
compensation, and motions for allowance of administrative claims on
October 10, 2019 at 2:30 p.m.  Objections to confirmation must be
filed and served no later than seven days before the date of the
Confirmation Hearing.

The Plan Proponent must file a ballot tabulation no later than 96
hours prior to the time set for the Confirmation Hearing.

General unsecured claims constitute allowed general claims
scheduled or filed.  The Debtor proposes to pay allowed Class 2
unsecured claims in full by 20 equal quarterly installments with
the initial payment commencing on the 90th day after the Effective
Date of the Plan.

A full-text copy of the Plan is available at
https://tinyurl.com/y4744uz2 from PacerMonitor.com at no charge.

A full-text copy of the Disclosure Statement is available at
https://tinyurl.com/y22loauc from PacerMonitor.com at no charge.

                     About Grabah Pretzel

Grabah Pretzel Inc., filed a Chapter 11 bankruptcy petition (Bankr.
M.D. Fla. Case No. 19-04329) on May 7, 2019, disclosing under $1
million in both assets and liabilities.  McIntyre Thanasides
Bringgold Elliott Grimaldi Guito & Matthews, P.A., led by James W.
Elliott, Esq., is the Debtor's counsel.


GRCDALLASHOMES LLC: Unsecureds to Recoup 50% Under Plan
-------------------------------------------------------
GRCDallasHomes LLC, files a Chapter 11 plan and accompanying
Disclosure Statement.

Class 8 - Allowed General Unsecured Claims are impaired. Each
holder of an Allowed General Unsecured Claim shall be paid their
pro-rata share from the Creditor's Pool along with the Class 7
Allowed Claim based on 50% of the Allowed Claim Amount until the
Class 8 Claims are paid in full. Class 8 Claims shall receive
payments under the Plan as soon as possible after payments to
senior secured Allowed Creditor Classes. The Plan projects to pay
such claims at a rate of 50% of each Allowed General Unsecured
Claim.

Class 3 - Allowed Secured Claim of Statebridge – 6012 Mayes Place
are impaired. The holders of Class 3 Claims shall be paid in full
over 60 months (or stated as 5 years), with interest at a rate of
5.5% per annum, from and after the Confirmation Date. Payments
(constituting payments of both principal and interest) shall be
made in equal monthly payments based on a standard 30-year
amortization; the payments shall be made as if on a standard
30-year note, with a balloon payment coming due at the end of the
60 months (or stated as 5 years).

Class 4 - Allowed Secured Claim of Statebridge – 1005 Shady Lane
are impaired. The holders of Class 4 Claims shall be paid in full
over 60 months (or stated as 5 years), with interest at a rate of
5.5% per annum, from and after the Confirmation Date. Payments
(constituting payments of both principal and interest) shall be
made in equal monthly payments based on a standard 30-year
amortization; the payments shall be made as if on a standard
30-year note, with a balloon payment coming due at the end of the
60 months (or stated as 5 years).

Class 5 - Allowed Secured Claim of Statebridge – 4437 Jenkins are
impaired. The holders of Class 5 Claims shall be paid in full over
60 months (or stated as 5 years), with interest at a rate of 5.5%
per annum, from and after the Confirmation Date. Payments
(constituting payments of both principal and interest) shall be
made in equal monthly payments based on a standard 30-year
amortization; the payments shall be made as if on a standard
30-year note, with a balloon payment coming due at the end of the
60 months (or stated as 5 years).

Class 6 - Allowed Secured Claim of Wells Fargo Mortgage – 2046
Greenstone are impaired. The holders of Class 6 Claims shall be
paid in full over 60 months (or stated as 5 years), with interest
at a rate of 5.5% per annum, from and after the Confirmation Date.
Payments (constituting payments of both principal and interest)
shall be made in equal monthly payments based on a standard 30-year
amortization; the payments shall be made as if on a standard
30-year note, with a balloon payment coming due at the end of the
60 months (or stated as 5 years).

Class 7 - Allowed Claim of Touba Daneshmandi are impaired. The
holder of the Class 7 Claim shall be paid in full prior to the
expiration of 60 months from the Confirmation Date. On the
occurrence of a sale of real property, the holder of the Class 7
Claim shall be paid from the Creditor’s Pool along with the Class
8 Allowed Claims based on fifty (50) percent of the Allowed Claim
Amount until the Class 7 Claim is paid in full.

The Debtor will fund the Plan from the Debtor's sale of
properties.

A full-text copy of the Disclosure Statement dated September 9,
2019, is available at https://tinyurl.com/y37ewqul from
PacerMonitor.com at no charge.

Attorneys for Debtor:

     Joyce W. Lindauer, Esq.
     Jeffery M. Veteto, Esq.
     Guy H. Holman, Esq.
     Joyce W. Lindauer Attorney, PLLC
     12720 Hillcrest Road, Suite 625
     Dallas, TX 75230
     Telephone: (972) 503-4033
     Facsimile: (972) 503-4034

                 About GRCDallasHomes LLC

GRCDallasHomes LLC, based in The Colony, TX, filed a Chapter 11
petition (Bankr. E.D. Tex. Case No. 19-41186) on May 3, 2019.  In
the petition signed by Kazem Daneshmandi, member, the Debtor
estimated $1 million to $10 million in both assets and liabilities.

The Hon. Brenda T. Rhoades oversees the case.  Joyce W. Lindauer,
Esq., at Joyce W. Lindauer Attorney, PLLC, serves as bankruptcy
counsel to the Debtor.  Khavari & Moghadassi, Attorneys at Law,
P.C., serves as special counsel.


GUIDEHOUSE LLP: S&P Cuts ICR to B- on Delayed Leverage Improvement
------------------------------------------------------------------
S&P Global Ratings lowered the issuer credit rating on Guidehouse
LLP to 'B-' from 'B' and the issue-level ratings on the existing
first- and second-lien credit facilities to 'B-' and 'CCC',
respectively. The '3' and '6' recovery ratings are unchanged.

At the same time, S&P assigned a 'B-' issue-level rating to the
company's new first-lien term loan with a '3' recovery rating and a
'CCC' issue-level rating and '6' recovery rating to the new
second-lien term loan.

The rating actions follow Guidehouse's recent announcement that it
plans to acquire Navigant Consulting Inc. for approximately $1
billion, which will delay debt leverage improvements beyond S&P's
expectations.

"The downgrade reflects our opinion that higher debt leverage from
the proposed acquisition and the company's expansion into the more
competitive commercial consulting market outweighs the combined
company's increased scale and diversity. Furthermore, Guidehouse's
leverage has been improving at a slower pace than we expected since
it spun off from PricewaterhouseCoopers (PwC) last year," S&P
said.

S&P expects pro forma debt to EBITDA to be above 10x in 2020
(assuming the acquisition takes place on Jan. 1, 2020) up from its
previous expectations of 5x-6x, partly due to one-time
transaction-related costs. The rating agency expects leverage to
decline to 5x-6x in 2021, but this would require Guidehouse to
realize substantial cost synergies and material improvements in
legacy margins."

On Aug. 2, 2019, Guidehouse agreed to acquire Navigant Consulting
for $1.037 billion plus fees and expenses. The company plans to
finance the transaction with a new $640 million first-lien
incremental term loan, a new $200 million second-lien incremental
term loan, new cash equity from its sponsor, and cash from the
balance sheet. Guidehouse also plans to increase its current
revolver to $125 million from $50 million, to provide additional
liquidity for the larger company, but S&P expects it to remain
undrawn.

The acquisition will more than double Guidehouse's current
revenues, and add a sizable amount of commercial consulting
business to the portfolio as Navigant is currently almost all
commercial business. The most significant portion of new commercial
business will be in the health care industry. S&P expects the
combined company to benefit from the complementary capabilities of
Guidehouse and Navigant, merging expertise in cyber and artificial
intelligence with data analytics to improve the company's service
offerings and reach a wider range of customers.

The stable outlook reflects S&P's expectation that debt to EBITDA
will remain above 10x through 2020 as Guidehouse integrates
Navigant, but should improve to a more sustainable level by 2021.
S&P also does not expect the company to face any liquidity issues
in the next 12 months.

"Although unlikely in the next 12 months, we could raise the rating
if debt to EBITDA declines and remains below 6.5x. This could occur
if Guidehouse successfully integrates Navigant, achieves expected
cost synergies, and grows its existing business while completing
its separation from PwC," S&P said, adding that this would enable
the company to increase earnings and cash flow and reduce debt.

"Although unlikely in the next 12 months, we could lower our rating
if Guidehouse fails to recognize synergies associated with the
Navigant acquisition, resulting in flat to negative cash flow and
elevated debt to EBITDA," the rating agency said.


HALCON RESOURCES: Seeks to Hire KPMG as Accountant
--------------------------------------------------
Halcon Resources Corporation seeks approval from the U.S.
Bankruptcy Court for the Southern District of Texas to hire KPMG
LLP.

The firm will provide bankruptcy accounting, fresh start reporting
and valuation services to Halcon Resources and its affiliates in
their Chapter 11 cases.

The firm's hourly rates are:

     Partners/Managing Directors   $613
     Directors/Senior Managers     $529
     Managers                      $448
     Senior Associates             $377
     Associates                    $250

KPMG received a retainer in the amount of $50,000 prior to the
Debtors' bankruptcy filing.

Michael Harlinga, a partner at KPMG, disclosed in court filings
that the firm is "disinterested" within the meaning of Section
101(14) of the Bankruptcy Code.

KPMG can be reached through:

     Michael J. Harlinga
     KPMG LLP
     811 Main Street, Suite 4500
     Tel: +1 713 319 2000
     Fax: +1 713 319 2807

                      About Halcon Resources

Halcon Resources Corporation (OTC PINK: HKRS)is an independent
energy company focused on the acquisition, production, exploration
and development of onshore liquids-rich oil and natural gas assets
in the United States.  During 2017, the Halcon acquired certain
property in the Delaware Basin and divested their assets located in
the Williston Basin in North Dakota and in the El Halon area of
East Texas.  As a result, the properties and drilling activities
are currently focused in the Delaware Basin.  

Halcon Resources and its affiliates previously sought bankruptcy
protection on July 27, 2016 (Bankr. D. Del. Lead Case No. 16-11724)
and emerged from bankruptcy in September 2016 after eliminating
$1.8 billion in long-term debt.

Halcon Resources Corporation, along with its subsidiaries, again
sought Chapter 11 protection (Bankr. S.D. Tex. Lead Case No.
19-34446) on Aug. 7, 2019, this time to seek confirmation of a
prepackaged plan that would cut debt by $750 million.

The Debtors disclosed $1,798,838,000 in total assets and
$945,175,000 in total liabilities as of March 31, 2019.

The Debtors tapped Perella Weinburg Partners and Tudor Pickering
Holt & Co. as financial advisors; Weil, Gotshal & Manges LLP as
legal counsel; FTI Consulting, Inc. as restructuring advisor; and
Kurtzman Carson Consultants LLC as claims agent.

Ducera Partners LLC is acting as financial advisor and Paul, Weiss,
Rifkind, Wharton & Garrison is acting as legal advisor to the
Unsecured Noteholders that comprise the Ad Hoc Noteholder Group.

Simpson Thacher & Bartlett LLP is lead counsel for JPMorgan Chase
Bank, N.A., as administrative agent under the Prepetition RBL
Credit Agreement.  RPA Advisors, LLC is the financial advisor for
the prepetition RBL agent.

Stroock & Stroock & Lavan LLP is counsel to Secured Swap Provider,
J. Aron & Company, under the Prepetition Secured Swap Agreements.


HAMILTONS 549: Unsecureds to Receive Payment from Sale Proceeds
---------------------------------------------------------------
Hamiltons 549 LLC filed a Chapter 11 Plan and accompanying
Disclosure Statement.

Class3 - General Unsecured Claims are unimpaired. Each holder of an
Allowed Class 3 General Unsecured Claim shall receive a Cash
distribution from the Net Sale Proceed equal to the full Allowed
amount of their Allowed General Unsecured Claims on the later of:
(i) ten (10) days after the Closing Date or (ii) three business
days after such Claim becomes an Allowed Claim, not to exceed
payment in full, plus interest at the legal rate.

Class 4 - Insider Claims are impaired. The holder of the Class 4
Insider Claims will receive the remaining amount of the Net Sale
Proceeds as promptly as practicable after the payment to holders of
Allowed Statutory Fees, Allowed Administrative Claims, Allowed
Non-Classified Claims, and Allowed Claims in Classes 1 through 3.

Class 5 Interests are impaired. Hermia Nelson, the holder of the
Class 5 Interests in the Debtor, shall retain such Interests and
will receive the remaining amount of the Net Sale Proceeds as
promptly as practicable after the payment to holders of Allowed
Statutory Fees, Allowed Administrative Claims, Allowed
Non-Classified Claims, and Allowed Claims in Classes 1 through 4.

All payments required to be made under this Plan shall be made by
the Disbursing Agent in accordance with the terms of this Plan from
the Net Sale Proceeds to be held by counsel for the Debtor in the
Creditors' Fund.

A full-text copy of the Disclosure Statement dated September 13,
2019, is available at https://tinyurl.com/y24suwhk from
PacerMonitor.com at no charge.

Counsel to the Debtor:

     Joel M. Shafferman, Esq.
     SHAFFERMAN & FELDMAN LLP
     137 Fifth Avenue, 9th Floor
     New York, New York 10010
     Tel: (212) 509-1802

               About Hamiltons 549 LLC

Hamiltons 549 LLC classifies its business as Single Asset Real
Estate (as defined in 11 U.S.C. Section 101(51B)). It owns in fee
simple a property located at 549 West 152nd Street New York, New
York 10031 having an appraised value of $3 million.

Hamiltons 549 LLC, based in New York, NY, filed a Chapter 11
petition (Bankr. S.D.N.Y. Case No. 19-11995) on June 17, 2019. The
Hon. Shelley C. Chapman presides over the case. Joel M. Shafferman,
Esq., at Shafferman & Feldman LLP, serves as bankruptcy counsel.

In its petition, the Debtor estimated $3,000,000 in assets and
$1,525,055 in liabilities. The petition was signed by Hermia
Nelson, member.


HARDEN FARMS: White & Allen Represents Wayne Bailey, John Deere
---------------------------------------------------------------
Pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure,
the law firm of White & Allen, P.A., submitted a verified statement
to disclose that it is representing the creditors in the Chapter 11
cases of Harden Farms, Inc.

The names and addresses of the creditors are:

(1) Wayne Bailey, Inc.
    Chapter 11 Plan Trustee
    John C. Bircher III

(2) John Deere Financial, f.s.b.
    6400 NW 86th Street
    Johnston, IA 50131-6600

White & Allen, P.A., has no claim or interest in the Debtor or the
bankruptcy estate.

White & Allen, P.A., perceives no conflict in the simultaneous
representation of the above-referenced creditors in this case. Each
client has given their informed consent to the representation of
the other for purposes of the above-captioned case. Some clients
identified above may also have separate counsel to handle issues
not handled by White & Allen, P.A. or handled in conjunction with
White & Allen, P.A.

In the event the representation of the above-named individuals and
entities is modified in such a way that additional or revised
disclosures under Fed. R. Bankr. P. 2019 or the North Carolina
Rules of Professional Conduct are necessary, undersigned counsel
will file additional or supplemental disclosures in a timely
manner.

The Firm can be reached at:

          WHITE & ALLEN, PA
          John C. Bircher III, Esq.
          P.O. Drawer U
          New Bern, NC 28563
          Telephone: (252) 638-5792
          E-mail: jbircher@whiteandallen.com

A copy of the Rule 2019 filing, downloaded from PacerMonitor.com,
is available at https://is.gd/Owr8g4

                      About Harden Farms

Harden Farms, Inc., is a privately held company in the crop farming
industry.

Harden Farms sought Chapter 11 protection (Bankr. E.D.N.C. Case No.
19-02379) on May 24, 2019.  In the petition signed by Charles M.
Harden, president, the Debtor disclosed $1,333,936 in assets and
$1,720,421 in liabilities as of the bankruptcy filing.  The Hon.
Stephani W. Humrickhouse is the case judge.  STUBBS & PERDUE, P.A.,
led by Trawick H. Stubbs, Jr., Esq., is serving as the Debtor's
counsel.


HERITAGE POWER: S&P Rates Senior Secured Debt 'B+'
--------------------------------------------------
S&P Global Ratings assigned a 'B+' project rating and '3' recovery
rating to Heritage Power LLC's senior secured debt.

Heritage Power, a portfolio of 16 power plants with about 2.35 GW
of total capacity (mostly peaking units) across Pennsylvania, Ohio,
and New Jersey, issued a $520 million term loan B, a $54 million LC
facility, and a $45 million revolving credit facility to repay
debt, collateralize letters of credit, fund a $20 million liquidity
reserve and a six-month DSRA, pay fees and an original issue
discount, and fund general corporate purposes at the parent level.
All three securities are pari passu senior secured debt. The
project LC facility will provide collateral for environmental
letters of credit. Furthermore, the project is now obligated to
fund the major maintenance reserve account with $10 million
beginning in 2024 to pre-fund major maintenance expenses in later
years. This structural change had the effect of smoothing out
forecasted DSCRs in the mid-2020s, which supported the financial
profile of the project and led to a higher minimum DSCR.

S&P said, "The stable outlook factors in our expectation that
availability will remain near current levels. This is a key factor
because the plants will need to avoid excessive operational outages
in order to maintain base-case cash flows. We expect capacity
prices for the period June 2022 through May 2023 to clear at
$125/MW-day for the bulk of PJM, while EMAAC clears at $150/MW-day.
The preliminary rating reflects our minimum forecast DSCR of 1.48x.
We expect DSCRs to be lower through the end of 2020, but the $20
million liquidity reserve will be available to support debt
coverage."

"We could lower the rating or revise the outlook to negative if the
project can't consistently maintain a minimum DSCR of 1.35x. This
would likely stem from capacity prices clearing lower than we
expect but could also come from deterioration in energy margins. We
could also revise the outlook or lower the rating if the project
experienced unexpected operational issues that required extensive
outages or if the project fails to sweep material cash, which could
heighten refinancing risk."

"While unlikely in the near term, we could raise the rating if we
expect the project to maintain a minimum base-case DSCR greater
than 1.65x in all years (including during the post-refinancing
period), while also improving its downside resiliency by enhancing
its available liquidity. This could stem from an improvement in
capacity prices or a sustained widening of spark spreads in PJM,
especially at Shawville and New Castle."


HOLDINGS OF SOUTH FLORIDA: Gets OK to Use Cash, Pay Creditors
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida
approves on a final basis the request of Holdings of South Florida,
Inc., to use cash collateral nunc pro tunc to the Petition Date, to
pay necessary operating expenses, based on the budget.

The Court authorizes the Debtor to:

   (a) pay fees to the U.S. Trustee;

   (b) grant replacement liens to secured creditors on the Debtor's
postpetition cash, rents and accounts receivables and proceeds
thereof;

   (c) make adequate protection payments as follows:

       * to FPX -- interest only payments of $633.34 beginning Oct.
1, 2019;
       * to NDAA -- contract payments at $3,583 monthly;
       * to SDS -- contract payments at $2,541 monthly;
       * to Kabbage -- interest only payments at $208.62 beginning
Oct. 1, 2019;
       * to American Express National Bank -- interest only
payments of $46.67;
       * to Kinetic Libertas -- interest only payments of $640
beginning Oct. 1, 2019.

A copy of the Order is available for free at:

    
http://bankrupt.com/misc/Holdings_SouthFlorida_100_Cash_Ord.pdf

                 About Holdings of South Florida

Holdings of South Florida, Inc., filed a Chapter 11 bankruptcy
petition (Bankr. M.D. Fla. Case No. 19-01219) on April 2, 2019.
The Debtor hired the Law Offices of Mickler & Mickler as attorney.


HOLLAND FERTILIZER: Seeks Interim Access to Cash Collateral
-----------------------------------------------------------
Holland Fertilizer Company, Inc., seeks permission from the U.S.
Bankruptcy Court for the Northern District of Georgia to use cash
collateral to pay operating expenses based on a budget.  

The monthly budget provides for $129,203 in cost of goods sold;
$25,005 for payroll, and $6,530 for insurance, among others, for
September 2019.  A copy of the Motion and the budget is available
for free at
http://bankrupt.com/misc/Holland_Fertilizer_5_Cash_MO.pdf

                     About Holland Fertilizer

Holland Fertilizer Company, Inc., a Georgia corporation, operates a
fertilizer and feed store.  Holland Fertilizer Company filed a
Chapter 11 petition (Bankr. N.D. Ga. Case No. 19-42115) on Sept.
13, 2019.  Jones & Walden, LLC, is the Debtor's counsel.


HUNT CAMP: U.S. Trustee Objects to Disclosure Statement
-------------------------------------------------------
The United States Trustee objects to the Hunt Camp, LLC's
Disclosure Statement, complaining that the Disclosure Statement is
deficient in that it fails to discuss how the debtor can fund the
plan, the source of the income to fund the plan, and any
projections regarding the debtor’s income and expenses.

                    About Hunt Camp

Hunt Camp, LLC sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D.S.C. Case No. 19-00727) on Feb. 5, 2019.  At the
time of the filing, the Debtor estimated assets of less than
$500,000 and liabilities of less than $50,000.  The case is
assigned to Judge Helen E. Burris.  The Debtor tapped Robert H.
Cooper, Esq., as its bankruptcy attorney.

No official committee of unsecured creditors has been appointed in
the Chapter 11 case.


IE INC: Oct. 29 Plan Confirmation Hearing
-----------------------------------------
The First Amended Disclosure Statement of iE, Inc., is approved.
The hearing on confirmation of the First Amended Plan of
Reorganization will take place on October 29, 2019 at 11:00 a.m.

Any objection to confirmation of the First Amended Plan must be
filed and served
no later than October 8, 2019.  All ballots must be served on
counsel for Debtor, Andrew Goodman, Esq. at 6345 Balboa Blvd,
Building I, Suite 300, Encino, California 91436 so as to be
received by counsel for Debtor no later than October 8, 2019.

Class 22 General Unsecured Claims are unimpaired. Holders of
allowed general unsecured claims will receive a dividend equal to
One Hundred Percent (100%) of their allowed unsecured claim payable
plus interest from the Petition Date at the Federal Judgment
Interest Rate then in effect (approximately 2%). The cash
distribution to General Unsecured Claims shall be paid in full over
a period of sixty (60) months with Debtor paying the sum of
$2989.35 per month to General Unsecured Creditors with allowed
claims.

Class 1 Secured Claim of  Ventura County Credit Union are impaired.
Debtor and VCCU have entered into a Cash Collateral and Claim
Treatment Stipulation approved by the Court on April 8, 2019. Per
the Stipulation Debtor will pay the entire claim in full over 24
months by making monthly payments of $4,605.30 VCCU will retain all
of its rights under its Loan Documents. Amount of Secured Claim of
$101,313.99. Interest Rate of  8.5%. Monthly Payments of
$4,605.30.

Class 16 Secured Claim of Enterprise Fleet Management are impaired.
With Collateral Value of S12,000. Debtor is current with payments
under the terms of its Lease and will continue to make the regular
monthly payments. Debtor will assume the Lease.

Class 17 Secured Claim of Enterprise Fleet Management are impaired.
With Collateral Value of $37, 000.00. Debtor is current with
payments under the terms of its Lease and will continue to make the
regular monthly payments. Debtor will assume the Lease.

Class 18 Secured Claim of Enterprise Fleet Management are impaired.
With Collateral Value of S13, 000.00. Debtor is current with
payments under the terms of its Lease and will continue to make the
regular monthly payments. Debtor will assume the Lease.

Class 19 Secured Claim of Enterprise Fleet Management are impaired.
With Collateral Value of S12,000.00. Debtor is current with
payments under the terms of its Lease and will continue to make the
regular monthly payments. Debtor will assume the Lease.

Class 20 Secured Claim of Enterprise Fleet Management are impaired.
With Collateral Value of S12,000.00. Debtor is current with
payments under the terms of its Lease and will continue to make the
regular monthly payments. Debtor will assume the Lease.

The hearing where the Court will determine whether or not to
confirm the Plan will take place on OCTOBER 29, 2019 at 11:00 A.M.
in Courtroom 201, 1415 State Street, 2nd Floor, Santa Barbara,
California.

Objections to the confirmation of the Plan must be filed with the
Court and served so that any objections are actually received by
counsel for the Debtor no later than OCTOBER 8, 2019 AT 5:00 P.M.

Debtor will fund the Plan from its business operations and the
funds it has/will have accumulated in its Debtor In Possession
accounts: see Exhibit "B" and declaration in support to this
Disclosure Statement.

A full-text copy of the First Amended Disclosure Statement dated
September 13, 2019, is available at https://tinyurl.com/yxmp3x2h
from PacerMonitor.com at no charge.

Attorneys for Debtor:

     Andrew Goodman, Esq.
     GOODMAN LAW OFFICES
     A PROFESSIONAL CORPORATION
     6345 Balboa Boulevard, Suite 1-300
     Encino, California 91316-1523
     PHONE: (818) 827-5169
     FAX: (818) 975-5256
     E-Mail: agoodman@andyglaw.com

              About iE, Inc.

iE, Inc. filed a Chapter 11 bankruptcy petition (Bankr. C.D. Cal.
Case No. 9:18-11181) on July 20, 2018, listing $500,001 to $1
million in both assets and liabilities.  The Debtor hired Goodman
Law Offices, APC, as general bankruptcy counsel.


INSIDE SCOOP: Seeks Cash Access, Adequate Protection to FMB
-----------------------------------------------------------
Inside Scoop, Inc., seeks authority from the U.S. Bankruptcy Court
for the Southern District of Indiana to use cash collateral to pay
operating, as well as pre-petition payroll expenses.
   
As adequate protection to First Merchants Bank, N.A., the Debtor
proposes to (i) make regular payments on its loans beginning Oct.
1, 2019; (ii) grant replacement liens on  its postpetition
receivable to the extent of First Merchants' prepetition lien; and
(iii) maintain insurance and pay taxes when due.

As of the Petition Date, the Debtor held approximately $2,500 in
cash and securities, and inventory estimated at $212,000.  Debtor
owes First Merchants Bank, N.A., approximately $235,000 secured by
all of the Debtor's assets.

A copy of the motion can be accessed for free at:

          
http://bankrupt.com/misc/Inside_Scoop_7_Cash_1stDayMO.pdf

                        About Inside Scoop

Based in Noblesville, Indiana, Inside Scoop, Inc., sells candy at
retail in seven malls.  Inside Scoop sought Chapter 11 protection
(Bankr. S.D. Ind. Case No. 19-06825) on Sept. 13, 2019.  Redman
Ludwig P.C., is the Debtor's counsel.


INSYS THERAPEUTICS: Sells Subsys Opioid Biz Despite Crisis
----------------------------------------------------------
Drugmaker Insys Therapeutics Inc. won approval from U.S. Bankruptcy
Judge Kevin Gross in Wilmington, Delaware, on Sept. 19, 2019, to
transfer rights to sell its flagship fentanyl spray, Subsys, in the
U.S. and certain regions abroad to Wyoming-based BTcP Pharma LLC,
part of the MMB Healthcare network of pharmaceutical companies.

Following a year-long marketing process, Insys designated BTcP
Pharma, as the successful bidder for the Debtors' business of
developing, manufacturing, and marketing their Subsys product (all
strengths, doses, and formulations of the fentanyl sublingual
spray, "Subsys") in all regions except for the Republic of Korea,
Japan, China, Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar,
Philippines, Singapore, Thailand, Timor-Leste, and Vietnam,
pursuant to an Asset Purchase Agreement between Insys and BTcP
dated Sept. 1, 2019.

Pursuant to the sale transaction, the purchaser agreed to pay Insys
(a) an annual royalty equal to 45% of operating profit from all
transmucosal immediate-release fentanyl ("TIRF") products,
including Subsys, Lazanda (the Purchaser's own commercialized TIRF
product), and any other TIRF products acquired through the end of
the royalty period in 2034.  Insys estimated that the royalties
could reach $20 million.

Insys also noted that the sale avoids the Debtors' estates
incurring the necessary expenses attendant with a wind-down of
Subsys.  It added that the sale transaction preserves the Debtors'
ability to sell the foreign intellectual property rights associated
with Subsys.

According to Reuters, in response to concerns about the product's
role in fueling the opioid epidemic, the buyer  agreed to only
market the drug for use by cancer patients.

Reuters notes that the recent decision marked the first time a
bankruptcy court approved the sale of an opioid amid an epidemic
that has been blamed for nearly 400,000 overdose deaths.

"Obviously all were concerned with the purchaser of the product,"
Judge Gross said at the Sept. 18 hearing, according to Reuters.
"There is a crisis in this country and we're all still trying to
get a handle on it."

Six state attorneys general initially objected to the sale of
Subsys, saying they were concerned it could perpetuate conduct
Insys engaged in before filing for bankruptcy when the company was
accused of paying doctors kickbacks to prescribe the drug.

The states withdrew those objections after BTcP's owner, Michael
Burke, committed to restrictions on the marketing and distribution
of Subsys to ensure it is only prescribed for cancer patients.

Subsys contains fentanyl, an opioid 100 times stronger than
morphine, and the U.S. Food and Drug Administration has only
approved it to treat pain in cancer patients.

                    About Insys Therapeutics

Headquartered in Chandler, Ariz., Insys Therapeutics, Inc. --
http://www.insysrx.com/-- is a specialty pharmaceutical company
that develops and commercializes innovative drugs and novel drug
delivery systems of therapeutic molecules that improve patients'
quality of life.  Using proprietary spray technology and
capabilities to develop pharmaceutical cannabinoids, Insys is
developing a pipeline of products intended to address unmet medical
needs and the clinical shortcomings of existing commercial
products.  Insys is committed to developing medications for
potentially treating anaphylaxis, epilepsy, Prader-Willi syndrome,
opioid addiction and overdose, and other disease areas with a
significant unmet need.

As of March 31, 2019, Insys had $172.6 million in total assets,
$336.3 million in total liabilities, and a total stockholders'
deficit of $163.7 million.

On June 10, 2019, Insys Therapeutics and six affiliated companies
filed petitions seeking relief under Chapter 11 of the Bankruptcy
Code (Bnnkr. D. Del. Lead Case No. 19-11292).  Insys intends to
conduct the asset sales in accordance with Section 363 of the U.S.
Bankruptcy Code.

The Debtors' cases are assigned to Judge Kevin Gross.

The Debtors tapped Weil, Gotshal & Manges LLP and Richards, Layton
& Finger, P.A., as legal counsel; Lazard Freres & Co. LLC as
investment banker; FTI Consulting, Inc. as financial advisor; and
Epiq Corporate Restructuring, LLC as claims agent.

Andrew Vara, acting U.S. trustee for Region 3, on June 20, 2019,
appointed nine creditors to serve on an official committee of
unsecured creditors in the Chapter 11 cases.  Akin Gump Strauss
Hauer & Feld LLP, and Bayard, P.A., serve as the Committee's
attorneys; and Province, Inc., is the financial advisor.


INTEGRATED DYNAMIC: Unsecureds to Get Paid From Revenue
-------------------------------------------------------
Integrated Dynamic Solutions, Inc., filed a Chapter 11 Plan and
accompanying Disclosure Statement.

The Plan has one class of general unsecured claims not entitled to
priority under Bankruptcy Code Section 507(a). Holders of Class 3
claims will be paid from IDS operating revenue.

CLASSES OF SECURED CLAIMS:

Gordon T. Graves are impaired. Amount Claim of $58,864.16. This
obligation will be paid from IDS operating revenue as set forth in
the Plan Spreadsheet. Payment in the manner and pursuant to the
terms set forth will constitute full satisfaction of the claim.

Vitavet Labs, Inc. are impaired. Total claim amount of $1,263,723
based on Proof of Claim. This claimholder shall be paid in the
manner set forth in the Plan Spreadsheet.
Payment in the manner and pursuant to the terms set forth in the
Plan will constitute full and complete satisfaction of the claim.

CLASS OF INTEREST HOLDERS. Interest holders are parties who hold
ownership interest (i.e., equity interest) in IDS. They constitute
Class 4. The only interest holder in this case is Nasrollah
Gashtili - 100%, The spouse of Mr. Gashtili may also properly be
characterized as interest holder of IDS, however, this Plan takes
no position regarding, and does not purport to affect the rights of
any spouse.

Payments due under the Plan will be funded from the following
sources: Cash on hand as of the Effective Date; Income from the
operations of IDS; and/or Any recovery in the ASAI Litigation.

A full-text copy of the Disclosure Statement dated September 13,
2019, is available at https://tinyurl.com/y2ja4nfs from
PacerMonitor.com at no charge.

Disclosure Statement Hearing is on October 17, 2019, at 1:00 p.m.,
in Courtroom: 301, 21041 Burbank Boulevard, Woodland Hills, CA
91367.

Attorneys for the Debtor:

     David A. Tilem, Esq.
     LAW OFFICES OF DAVID A. TILEM
     206 N. Jackson St., Suite 201
     Glendale, CA 91206
     Tel: 818-507-6000
     Fax: 818-507-6800
     Email: DavidTilem@TilemLaw.com

           About Integrated Dynamic Solutions

Founded in 1995, Integrated Dynamic Solutions, Inc. --
http://www.idspage.com/-- is a Microsoft Certified Partner
specializing in custom software development, database design, and
systems integration.  It offers a full range of services from
office automation, database design, e-commerce, custom software
development and prototyping to wireless solutions, web-based
programming, Facilities Management Information Systems, and
simulation modeling.

Integrated Dynamic Solutions sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. C.D. Cal. Case No. 18-11379) on Aug.
22, 2018.  On Aug. 24, 2018, the case was transferred from the
Northern Division to the San Fernando Valley Division, and was
assigned Case No. 18-12156.

In the petition signed by CEO Nasrolla Gashtili, the Debtor
estimated assets of less than $50,000 and liabilities of $1 million
to $10 million.  

Judge Victoria S. Kaufman oversees the case.  

The Debtor tapped The Law Offices of David A. Tilem as its legal
counsel.

The Office of the U.S. Trustee on Sept. 21, 2018, appointed an
official committee of unsecured creditors in the Debtor's case.


INVENSURE INSURANCE: To Get Monthly Payments Over 5 Years
---------------------------------------------------------
Invensure Insurance Brokers, Inc., filed a small business Chapter
11 plan and accompanying disclosure statement.

Class 3B(2): All other Unsecured Creditors not in Class 3A or Class
3B(1) are impaired and will be paid in full together with interest
at the Federal Legal Rate from the Petition Date to the Effective
Date of the Plan and thereafter with interest at the rate of 6.75%
in equal monthly fully amortized payments over 5 years commencing
60 days from the Effective Date of the Plan.

Class 3A: Lake Forest Bank & Trust Company N.A. are impaired. Will
be paid in full as follows: On the Effective Date the Bank will
receive a payment of $10,000, with the balance of the Bank's claim
paid in accordance with its existing loan agreement.

Class 3B(1): Creditors with allowed claims of $26,000 or less
together with creditors who reduce their claims to $26,000 if
higher are impaired. Will be paid in full on the Effective Date.

Class 3B(3): claim of James DeMarco is covered by insurance are
impaired. His claim will be satisfied directly by insurance. The
balance of the claim of Mr. DeMarco not satisfied by insurance will
be treated and satisfied on the same terms as creditors in Class
3B(2).

Payments and distributions under the Plan will be funded by the
following: Cash required on the Effective Date will be provided by
insiders Robert Parent and Richard Sherman in an estimated amount
of approximately $100,000 as a loan and added to the insiders'
Class 2B Secured Claims. Payments to Class 3B(2) Unsecured
Creditors will be funded from the projected cash flow of the
Debtor.

A full-text copy of the Disclosure Statement dated September 13,
2019, is available at https://tinyurl.com/y6dbch64 from
PacerMonitor.com at no charge.

             About Invensure Insurance Brokers

Invensure Insurance Brokers -- http://www.invensure.com/-- is an
insurance brokerage firm in Irvine, Calif., that offers business
insurance, personal insurance and employee benefits insurance.

Invensure Insurance Brokers filed a voluntary petition under
Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No.
19-11889) on May 16, 2019. In the petition signed by Robert Parent,
chief executive officer, the Debtor estimated $1 million to $10
million in both assets and liabilities. Freeman, Freeman & Smiley,
LLP represents the Debtor as counsel.


ION CORPORATE: S&P Assigns 'B' Issuer Credit Rating; Outlook Stable
-------------------------------------------------------------------
S&P Global Ratings assigned a 'B' issuer credit rating to ION
Corporate Solutions Finance Ltd. (ION Corporates), a new corporate
entity to be formed from the merging of Wall Street Systems
Holdings Inc., OpenLink International Holdings Inc., and Triple
Point Group Holdings Inc.  

ION Corporates expects to raise a first-lien term loan totaling the
equivalent of US1.75 billion, along with $180 million of common
equity, to repay all outstanding debt under each entity. The
company will also be raising a $30 million revolving credit
facility.

S&P assigned a 'B' issue rating to the first-lien credit facilities
with a '4' recovery rating (expected recovery of 40%).

S&P said, "We based our 'B' issuer credit rating on ION Corporates
on its highly leveraged credit profile, niche focus within the
financial technology and risk management software market, and a
fragmented and competitive market environment with relatively low
barriers to entry. Offsetting these factors are improved scale as a
combined entity; good market share as a stand-alone software and
solutions provider in the commodities, treasury, and foreign
exchange risk management sector; low customer concentration; and
improving recurring revenue profile."

"Our stable outlook on ION Corporates reflects our expectation that
the company's low- to mid-single digit revenue growth and
improvement in EBITDA margins through cost-reduction efforts will
enable it to reduce leverage to the low-6x by the end of 2019 and
to the mid-5x by the end of 2020."

"We could lower the rating if sales fall due to poor macroeconomic
conditions, execution missteps during cost cuts leading to material
EBITDA margin compression, or if the company pursues debt-financed
acquisitions or shareholder returns, such that adjusted leverage
exceeds the mid-6x area or free cash flow to debt reduces to the
mid-single digits."

"While unlikely over the next 12 months, we could raise the rating
if the company demonstrates a commitment to reduce and sustain
adjusted leverage below 5x, while maintaining consistent
low-single-digit revenue growth and stable EBITDA margins."


J2 ACQUISITION: S&P Assigns 'BB-' ICR; Outlook Stable
-----------------------------------------------------
S&P Global Ratings assigned its 'BB-' issuer credit rating to J2
Acquisition Ltd., and its 'BB-' issue-level rating and '3' recovery
rating to J2 subsidiary, APi Group DE Inc.'s proposed $300 million
senior secured revolver and $1.2 billion senior secured term loan.

The rating actions follow J2 Acquisition's entry into an agreement
to acquire Minnesota-based industrial specialty services and
commercial safety solutions provider APi Group Inc. for a total
transaction value of $2.9 billion. In connection with the
transaction, a $300 million senior secured revolver and $1.2
billion secured senior term loan will be issued.

S&P said, "Our rating on J2 reflects the company's position as the
leading fire protection contractor in the U.S. and the modest
diversification that comes from the company participating in three
segments, which include specialty service and industrial solutions,
in addition to its safety solutions segment. We believe the overall
Engineering & Construction (E&C) industry has inherent cash flow
and earnings volatility risk, due to its project-based nature. The
ratings also incorporate our view that the company will continue
with its strategy of pursuing acquisitions under its new ownership.
We expect credit measures to gradually improve over our forecast
period but to remain appropriate for the current rating."

J2 provides specialty-contracting services in the U.S., Canada, and
U.K. The company's modest revenue diversity could provide some
protection against sector-specific weaknesses. In S&P's view, the
safety solutions segment, which includes the company's fire
protection contracting business, is relatively less cyclical due to
regulatory requirements for the inspection and maintenance of fire
systems. The company's percentage of loss-making contracts of about
1.5% over the past year is lower than many E&C peers.

The company's workforce is primarily unionized though it can be
flexed during periods of weak demand. Over time, the company has
increased its focus on service-based revenue, which S&P views
favorably due to its recurring nature. Service revenue related to
maintenance and inspections still accounts for less than half of
its life safety segment revenues, although it has increased from
21% in 2008.

S&P said, "Our assessment of J2's financial risk incorporates our
expectation that the company will have adjusted debt leverage
between 3.5-4x pro forma for the proposed transaction. We expect
the company will generate moderate positive free operating cash
flow (FOCF) in 2019 and 2020, resulting in an FOCF-to-debt metric
above 10%. We estimate credit measures will gradually improve in
2020 as the company's earnings improve. However, we acknowledge the
company's strategy of pursuing acquisitions could preclude
sustained leverage reduction."

"The stable outlook on J2 reflects our assumption that the company
will experience organic topline growth over the next 12 months and
will pursue a modest level of acquisitions, with a focus on the
life safety segment. We expect the company's adjusted debt to
EBITDA will be around 4x at transaction close declining to the
high-3x area over the next year."

"Although we have incorporated some possible deterioration in
credit metrics, we could lower the rating within the next 12 months
if profitability is weaker than expected due to difficulty
integrating future acquisitions or if the company experiences
unexpected project execution issues that causes adjusted EBITDA
margins to decline below 8%, resulting in debt to EBITDA of above
4x or FOCF to debt to decline below 10% on a sustained basis. We
could also lower our rating due to a weaker economic environment
that causes a similar drop in margins."

"Although unlikely, we could raise our rating over the next year if
the company deleverages more quickly than we anticipate, causing
APi's debt to EBITDA to decline to below 3x and FOCF to debt to
rise above 15% on a sustained basis. This could occur if operating
performance exceeds our expectations or if APi pursues a
lower-than-anticipated level of acquisitions. We would also need to
believe the company would sustain an improvement in credit
metrics."


JAGGED PEAK: SingPost Books $6.9MM Loss, Says Offers Inadequate
---------------------------------------------------------------
Singapore Post Limited said Sept. 19, 2019, that it ran a
comprehensive sale process for its U.S. eCommerce businesses,
Jagged Peak and TradeGlobal, for over almost six months but failed
to find acceptable offers.

The sale process involved the appointment of a top-tier investment
bank as financial adviser, and a broad outreach to potential buyers
globally. This resulted in 105 parties that showed interest and
signed non-disclosure agreements, leading to 8 expressions of
interest and finally resulting in 2 non-binding offers.  These
offers were on terms and conditions that were commercially
unfeasible to SingPost.  Therefore, the sale process has now closed
with no acceptable offers.

Separately, the boards of directors of Jagged Peak, Inc., and
TradeGlobal North America Holding, Inc., respectively, have set up
board special committees, comprising only independent directors, to
seek additional liquidity and should that not be possible, to
investigate options, such as a restructuring including a filing
under the U.S. federal bankruptcy statute. Following from this,
Jagged Peak, Inc., TradeGlobal North America Holding, Inc.(being
one of the upstream U.S. holding companies of TradeGlobal LLC), and
TradeGlobal LLC have filed voluntary petitions for relief under
Chapter 11 of the United States Bankruptcy Code in the United
States Bankruptcy Court for the District of Nevada.

Under the supervision of the bankruptcy court, the U.S.
Subsidiaries intend to pursue the sale of all or substantially all
of their assets. SingPost is expected to incur professional and
administrative fees during the process for the Chapter 11
proceedings, however these are not expected to be material.

SingPost will no longer include the U.S. Subsidiaries in its
consolidated financial reports.  For the quarter ended June 30,
2019, the unaudited consolidated loss arising from the U.S.
Subsidiaries was approximately S$6.9 million.

                About Jagged Peak and TradeGlobal

Jagged Peak Inc. -- https://www.jaggedpeak.com/ -- and Trade
Global, LLC, are software companies in Tampa, Florida.  They
deliver end-to-end global eCommerce solutions that help companies
break into new markets and build customer base by creating a
seamless experience across borders for all product types.

Jagged Peak, Inc., TradeGlobal, LLC, and TradeGlobal North America
Holding, Inc., sought Chapter 11 protection (Bankr. D. Nev. Case
Nos. 19-15959 to 19-15961) on Sept. 16, 2019

In the petitions signed by Jeremy Rosenthal, CRO, Jagged Peak and
TradeGlobal LLC each was estimated to have $50 million to $100
million in assets and $10 million to $50 million liabilities as of
the bankruptcy filing.

The Hon. Mike K. Nakagawa is the case judge.

Garman Turner Gordon is the Debtors' counsel.



JC PENNY: Fitch Lowers LT Issuer Default Ratings to CCC+
--------------------------------------------------------
Fitch Ratings downgraded J.C. Penney Company, Inc.'s and J.C.
Penney Corporation, Inc.'s Long-Term Issuer Default Ratings to
'CCC+' from 'B-'.

The downgrade reflects continued market share losses and declining
EBITDA, with lack of visibility for a material turnaround although
there are no near-term liquidity concerns. Fitch's expects annual
EBITDA could remain under $500 million over the next 12-36 months,
with low-to-mid $400 million projected in 2019 and 2020. This
follows the significant EBITDA erosion in 2018, with EBITDA
declining to $563 million from $886 million in 2017, reflecting
significant sales declines and execution issues. While the
company's long-term direction and strategy are somewhat uncertain
given recent senior management changes, its near-term focus has
been on adding key positions to its management team, exiting out of
low gross margin businesses such as appliances and in-store
furniture, and cutting back significantly on inventory to improve
gross margins.

At projected EBITDA levels, Fitch expects adjusted debt/EBITDAR to
trend at 9x in 2019 and 2020, versus 7.4x in 2018 and the mid-5x in
2016/2017. At the current EBITDA run rate, the capital structure is
untenable, although near-term liquidity remains adequate to fund
seasonal working capital, pay down moderate near-term debt
maturities ($40 million annual term loan amortization, $50 million
note due 2019 and $105 million due 2020) and absorb cash flow
shortfalls. Fitch projects annual FCF to be negative $100 million
to $200 million in 2019 and 2020. The company ended 2018 with $1.9
billion in liquidity (cash and availability on its $2.35 billion
revolver), and Fitch projects liquidity to be approximately $1.5
billion at the end of 2019 and close to $1.2 billion at the end of
2020.

KEY RATING DRIVERS

Material Decline in Comps: Fitch expects 2019 comps to be down
close to 8%, as comps turned negative in 2H18 after a flat 1H18 and
have continued to be materially negative in 1H19. Part of the
decline in 2019 comps is due to the exit of appliances and in-store
furniture categories. Fitch expects J.C. Penney's comps to be in
the negative low single digit range in 2020, given continued
weakness in key categories and the ongoing traffic challenges at
mid-tier mall-based apparel retailers, as volume continues to shift
online and to discount channels such as fast fashion and
off-price.

Fitch expects underlying store traffic and core apparel sales to
decline in the low- to mid-single-digits annually. Women's apparel
accounted for $2.6 billion or 22% of revenue in 2018. This business
has been declining by 6%-7% annually since 2016. Men's apparel and
accessories (21% of revenue) and children's apparel (9% of revenue)
have also declined in the 3%-6% range. Historically, the women's
business has been over-assorted in traditional women's clothing and
under-assorted in casual, contemporary and active wear. Fitch views
the turnaround in this business as challenging, as it plays
catch-up to both existing and new entrants in a crowded space.

Areas such as home and appliances (14% of sales), which were
trending positive between 2013-2017, declined 15% in 2018.
Increased investment in home and appliances were initiatives begun
by prior management to opportunistically take share away from
struggling retailers such as Sears; however, new management has
decided to eliminate appliances and in-store furniture sales in
2019, which is expected to have around a 200 basis points negative
impact on comps.

EBITDA Halved: Mid-single digit declines in comparable store sales
in second half 2018 versus a flat first half 2018 necessitated
significant markdowns to clear excess inventory, indicating
significant execution issues across categories. EBITDA (excluding
asset sales gains and adding back non-cash based compensation)
declined to $563 million in 2018 from $886 million in 2017 and over
$1 billion in 2016, and Fitch expects that annual EBITDA could
remain under $500 million over the next 12-36 months. The 2019
forecasts assumes comps are down 8% given the significant reduction
in inventory while gross margins are expected to be up almost 200
basis points given reduced markdowns and better selling margins.
Given expectations of flat gross margin in 2020/2021, Fitch
forecasts annual EBITDA to be around $400 million to $450 million
with comps declines moderating to the low single digits.

Uncertain Long-Term Strategy: Jill Saltou, who was appointed CEO in
October 2018 and most recently served as President and CEO of JOANN
Stores, has been putting together her senior management team and
doing a comprehensive review of the J.C. Penney business. The
company still has not shared its long term strategic plan or the
steps it will take to address its capital structure. Near-term, the
company has been focused on adding key positions to its management
team, exiting out of low gross margin businesses such as appliances
and mattresses, and cutting back significantly on inventory to
improve gross margins.

In recent months, the company has replaced or added key management
positions including its CFO, Chief Customer Officer, Chief
Merchant, EVP of Stores, SVP, Home Product Design & Development;
Chief Transformation Officer, SVP, Asset Protection and SVP,
Planning & Allocation.

The company has been focused on inventory management to improve
inventory productivity, gross margin levels and cash flow. The
company reduced its inventory by 13%, 16% and 13% in 4Q18, 1Q19 and
2Q19 respectively. It has eliminated non-core and low-margin
categories to focus on high-margin areas such as apparel and soft
home. Recent category exits include major appliances, furniture
(in-store) and certain online drop-ship SKUs. The major appliances
and furniture businesses represented 2.7% of sales in 2018, but
were negative in operating profit. The company is also focused on
improving its shrink results and restoring clearance selling
margins to historical levels

Adequate Liquidity: J.C. Penney had cash and cash equivalents of
$175 million as of Aug. 3, 2019 and approximately $1.5 billion
available under its $2.35 billion credit facility after accounting
for approximately $150 million of letters of credit (LOC) and $180
million in minimum excess availability threshold.

FCF is projected to be negative $100 million to $200 million in
2019 and 2020. However, the company still has adequate liquidity
which will enable JCP to fund the business and moderate upcoming
debt maturities. Liquidity (cash on hand and availability on $2.35
billion ABL facility maturing June 2022) is expected to be around
$1.5 billion (after taking into account the minimum excess
availability covenant as the fixed charge ratio is expected to be
under 1x under the ABL agreement) at year-end 2019. Assuming no
material changes in payable terms, Fitch expects the company to
have around $1.2 billion in liquidity at year-end 2020 (and over $1
billion at seasonal working capital build up). This assumes the
company funds the $700 million to $800 million seasonal working
capital swing, FCF shortfall and debt repayments through the ABL.
J.C. Penney has about $90 million of debt maturities in 2019 and
$145 million in 2020, including $40 million annual term loan
amortization. Post these maturities, the next long term debt
maturities are in June 2023, when $1.6 billion of term loan A and
$500 million first lien secured notes come due.

On July 19, 2019, the company stated that it routinely hires
external advisors to evaluate opportunities for the company, but
confirmed that it had "not hired any advisors to prepare for an
in-court restructuring or bankruptcy." Unlike many retailers, J.C.
Penney has a rich asset base inclusive of owned real estate. The
company may also be able to monetize below market rate leases and
unlock value from private brands, which represent 46% of revenue.
These assets could be utilized by J.C. Penney to refinance or make
changes to its capital structure.

DERIVATION SUMMARY

The 'CCC' ratings reflect continued market share losses and
declining EBITDA, with lack of visibility for a material turnaround
although there are no near-term liquidity concerns. While the
company's long-term direction and strategy are somewhat uncertain
given recent senior management changes, its near-term focus has
been on adding key positions to its management team, exiting out of
low gross margin businesses such as appliances and mattresses, and
cutting back significantly on inventory to improve gross margins.
At the current EBITDA run rate, the capital structure is untenable
although near term liquidity remains adequate to fund seasonal
working capital and pay down moderate near term debt maturities.

Based on Fitch's 2019 projections, J.C. Penney total sales are
expected to be down almost 40% since 2011 versus its
investment-grade rated peers such as Macy's, Inc. (BBB/Stable) and
Kohl's Corporation (BBB/Stable), which have had fairly stable top
lines during this period. Both Kohl's and Macy's have a better
developed omnichannel offering, and profitability is higher at 9%
to 11% EBITDA margins versus 4% projected for J.C. Penney, based on
projections in 2019. Finally, adjusted debt/EBITDAR for Kohl's is
expected to trend around in the low to-mid 2x and mid-to-high 2x
for Macy's, versus 9x for J.C. Penney.

KEY ASSUMPTIONS

  -- Comps are expected to be down 8% in 2019 and down 1% in
     later years;

  -- EBITDA could remain under $500 million over the next 12-36
     months, with low-to-mid-$400 million projected in 2019 and
     2020;

  -- FCF is expected to be negative $100 million to $200 million
     in 2019 and 2020;

  -- Adjusted debt/EBITDAR is expected to trend at 9x in 2019
     and 2020, versus 7.4x in 2018 and the mid-5x in 2016/2017;

  -- Liquidity is expected to remain adequate, with $1.5 billion
     and $1.2 billion of liquidity projected at year-end 2019
     and 2020, respectively.

RATING SENSITIVITIES

Developments That May, Individually or Collectively, Lead to
Positive Rating Action

A positive rating action could occur if J.C. Penney's comps
stabilize and if EBITDA returns to and sustained over $700 million,
such that FCF is positive and adjusted debt/EBITDAR (capitalizing
leases at 8x) moves below 7.0x.

Developments That May, Individually or Collectively, Lead to
Negative Rating Action

A negative rating action could occur if comps remain materially
negative, leading to materially negative FCF such that the company
has minimal headroom in liquidity to fund operations and seasonal
working capital. Capital structure changes that results in any form
of distressed debt exchange would also leading to downward rating
actions.

LIQUIDITY AND DEBT STRUCTURE

Adequate Liquidity: J.C. Penney had cash and cash equivalents of
$175 million as of Aug. 3, 2019 and approximately $1.5 billion
available under its $2.35 billion credit facility maturing June
2022, after adjusting the borrowing base for approximately $150
million in LOCs and an estimated $185 million in minimum excess
availability threshold.

Liquidity (cash on hand and availability on its revolver) is
expected to be around $1.5 billion (after taking into account the
minimum excess availability covenant as the fixed charge ratio is
expected to be under 1x under the ABL agreement) at year-end 2019).
Assuming no material changes in payable terms, Fitch expects the
company to have around $1.2 billion in liquidity at year-end 2020
(and $1.1 billion at seasonal working capital build up). This
assumes the company funds the $700 million to $800 million seasonal
working capital swing, the FCF shortfall and debt repayments
through the ABL.

J.C. Penney has about $90 million of debt maturities in 2019 and
$145 million in 2020, including $40 million annual term loan
amortization. Post these maturities, the next long term debt
maturities are in June 2023, when $1.6 billion of term loan A and
$500 million first lien secured notes come due.

RECOVERY ANALYSIS

For issuers with IDRs of 'B+' and below, Fitch performs a recovery
analysis for each class of obligations of the issuer. The issue
ratings are derived from the IDR and the relevant Recovery Rating
(RR) and notching, based on Fitch's recovery analysis that places a
liquidation value under a distressed scenario in the high $4
billion to low $5 billion range (taking into seasonal working
capital build).

Fitch has applied a 70% advance rate against inventory level as a
proxy for a net orderly liquidation value of the assets. In coming
up with a real estate value of approximately $3.1 billion, Fitch
valued the approximate 400 owned stores at $7 million each (versus
the appraised value of $7.8 million in May 2013) and the six owned
distribution centers at $50 million each.

The liquidation value is higher than the going-concern value, which
Fitch estimates at about $2.8 billion, based on a going-concern
EBITDA of $700 million and a 4x multiple. The $700 million EBITDA
assumes a rightsizing of the business in which the revenue base is
around 35% lower than projected 2019 levels but at an improved
EBITDA margin of around 9% to 10%, which is comparable to J. C.
Penney's department store peers.

The 4.0x multiple is lower than the 5.4x median multiple for retail
going-concern reorganizations, the 12-year retail market multiples
of 5x to 11x, and 7x to 12x for retail transaction multiples. The
4.0x multiple reflects the significant share losses by department
stores to other formats over the last 10 to 15 years and Fitch's
expectation that department stores sales will continue to decline
in the low single digits annually.

J. C. Penney's $2.35 billion senior secured asset-backed loan (ABL)
facility that matures in June 2022 is rated 'BB-'/'RR1', which
indicates outstanding recovery prospects (91%-100%) in a distressed
scenario. The facility is secured by a first-lien priority on
inventory and receivables, with borrowings subject to a borrowing
base. Any proceeds of the collateral will be applied first to the
satisfaction of all obligations under the revolving facility.

In the event that its fixed charge coverage ratio is less than 1x,
which has been the case since 4Q18, J.C. Penney is required to
maintain a minimum excess availability at all times of not less
than (a) $200 million in the event that 10% of the line cap (the
lesser of total commitments under the credit facility or the
borrowing base) is equal to or greater than $200 million or (b) the
greater of (i) 10% of line cap and (ii) $150 million in the event
that 10% of the line cap is less than $200 million. The calculation
for the fixed charge coverage ratio allows J.C. Penney to deduct up
to $250 million in debt repayments made over the prior 12 months.

The $1.56 billion term loan and $500 million senior secured notes
due June 2023 are also expected to have outstanding recovery
prospects, leading to a 'BB-'/'RR1' rating. Both the term loan
facility and senior secured notes are secured by (a) first-lien
mortgages on 285 owned and ground-leased stores (subject to certain
restrictions primarily related to Principal Property owned by J. C.
Penney Corporation, Inc.) and six owned distribution centers; (b) a
first lien on intellectual property (trademarks including J. C.
Penney, Liz Claiborne, St. John's Bay and Arizona), machinery and
equipment; (c) a stock pledge of J. C. Penney Corporation and all
of its material subsidiaries and all intercompany debt; and (d)
second lien on inventory and accounts receivable that back the ABL
facility. The term loan and senior secured notes rank pari passu in
terms of priority of payment.

The $400 million senior second lien secured notes due 2025 are
expected to have outstanding recovery prospects, leading to a
'BB-'/'RR1' rating. The notes are secured by a second lien on the
assets (real estate and IP assets) securing the term loan and
senior first lien secured notes and a third lien on the ABL
collateral. The senior unsecured notes are rated 'B-'/'RR4',
indicating average recovery prospects (31% to 50%), based on
recovery from excess ABL collateral and unencumbered real estate.

SUMMARY OF FINANCIAL ADJUSTMENTS

  -- Historical and projected EBITDA is adjusted to add back
non-cash stock-based compensation and adjust for non-cash pension
expense, gain on sale of assets/impairments, and net income from
home office land joint venture.

  -- Fitch has adjusted the historical and projected debt by adding
8x yearly operating lease expense.


JIM PARKER: Nov. 13 Disclosure Statement Hearing
------------------------------------------------
A hearing on the Amended Disclosure Statement for Jim Parker Farms,
LLC's Plan of Reorganization has been scheduled for November 13,
2019 at 9:00 a.m.

Class 4 Claimant (Allowed Secured Claim of Allied Affiliated
Funding, LP) is not impaired and shall be satisfied as follows: The
Secured Claim of the Class 4 Claimant arises from that certain
Promissory Note, executed by Blitz Energy Services, LLC, and to
secure repayment of which, the Debtor executed that certain Deed of
Trust, granting Class 4 Claimant a deed of trust lien in certain
land owned by the Debtor, of approximately 700 acres located in
Byers, TX, Clay County, Texas.  The outstanding balance due on the
Allied Note is approximately $530,000.

Class 5 Claimant (Allowed Secured Claim of ExWorks Capital, LP) is
not impaired and shall be satisfied as follows: The Secured Claim
of the Class 5 Claimant arises from that certain Promissory Note,
executed by Blitz Energy Services, LLC, and to secure repayment of
which, the Debtor executed that certain Deed of Trust, granting
Class 4 Claimant a deed of trust lien in certain land owned by the
Debtor, consisting of 2 acres and a lodge located in Byers, TX,
Clay County, Texas. The value of the Lodge Tract is approximately
$350,000.

The Class 5 Claimant shall be paid the full value of the Lodge
Tract in the amount of $350,000, on or before the Effective Date of
the Plan. Upon confirmation, the Class 5 Claimant will retain its
DOT liens on the Lodge Tract until the Class 5 Payment is made.
Upon the Debtor's payment of the Class 5 Payment, the Class 5
Claimant shall release the ExWorks DOT have no further Claim
against the Debtor. The Class 5 Claimant is not impaired under the
Plan.

Class 6 Claimants (Holders of Allowed Unsecured Claims) are
impaired. In full and final satisfaction of the Class 6 Claims, the
Debtor shall pay to Class 6 Claimants, quarterly installments of
$2,000 each, to be shared pro rata among allowed Class 6 Claims,
for twenty (20) quarters. The quarterly payments to Class 6
Claimants shall begin ninety (90) days following the Effective Date
or the date of the entry of a Final Order allowing the Class 6
Claim. The Debtor shall have the right to pre-pay the obligations
to Class 6 Claimants.

Class 7 Claimants (Equity Interest Holders in Debtor). The existing
owners of the Debtor shall retain their interests in the Debtor
under the Plan.

The Debtor will transfer to the Disbursing Agent funds sufficient
to make the payments required by this Plan. The Disbursing Agent
shall be the Reorganized Debtor.

A full-text copy of the Amended Disclosure Statement dated
September 9, 2019, is available at https://tinyurl.com/yyk7k7we
from PacerMonitor.com at no charge.

Counsel for Debtor:

     Susan B. Hersh, Esq.
     SUSAN B. HERSH P.C.
     12770 Coit Road, Suite 1100
     Dallas, Texas 75251
     Ph. (972) 503-7070
     Fax (972) 503-7077
     Email: susan@susanbhershpc.com

                 About Jim Parker Farms

Jim Parker Farms, LLC, based in Yantis, TX, filed a Chapter 11
petition (Bankr. N.D. Tex. Case No. 19-70125) on May 6, 2019.  In
the petition signed by Zachary D. Parker, managing member, the
Debtor estimated up to $50,000 in assets and $1 million to $10
million in liabilities.  The Hon. Harlin DeWayne Hale oversees the
case.  Susan B. Hersh, P.C., serves as bankruptcy counsel to the
Debtor.


JRND LLC: Kapitus Objection to Cash Use Overruled
-------------------------------------------------
The Hon. Cynthia C. Jackson of the U.S. Bankruptcy Court for the
Middle District of Florida authorizes JRND LLC to use cash
collateral pursuant to the budget until further court hearing.  The
Court overrules the objection raised by Kapitus Servicing, Inc.,
seeking to prohibit the Debtor from using cash collateral.

The Court directs the Debtor to pay Kapitus Servicing $3,500
monthly, as adequate protection, on the first day of each month
beginning Aug. 1, 2019 through the effective date of any confirmed
plan of reorganization.  Payments will be made through Kapitus
Servicing's counsel:

         Ryan Yant, Esq.
         Carlton Fields
         P.O. Box 3239
         Tampa, FL 33601-3239.

A copy of the Order can be accessed for free at
http://bankrupt.com/misc/JRND_60_Cash_Ord.pdf  The Court denies
the objection, in part, without prejudice.

                        About JRND LLC

JRND LLC sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. M.D. Fla. Case No. 19-00774) on Feb. 4, 2019.  At the time
of the filing, the Debtor estimated assets of less than $50,000 and
liabilities of less than $1 million.  The case is assigned to Judge
Cynthia C. Jackson.  Ainsworth and Branson Law, PLLC, is the
Debtor's legal counsel.

No official committee of unsecured creditors has been appointed in
the Chapter 11 case.


K&D INDUSTRIAL: Files Chapter 11 Liquidating Plan
-------------------------------------------------
K&D Industrial Services Holding Co., Inc., K&D Industrial Services,
Inc., K&D Industries, Inc., K&D Grand Rapids, Inc., K&D Industries
of Ohio, Inc., K&D Industrial Services Midwest, Inc., K&D
Industries West, Inc., and L&P Industries LLC, filed a Combined
Liquidating Plan and Disclosure Statement.

Class IV General Unsecured Claims are impaired. In the event funds
are available for distribution to the Class IV Creditors, such
Creditors shall receive a pro rata distribution up to the full
amount of each such allowed claim.

Class I Executory Contract Arrearage Claims are impaired. The
Debtors are rejecting all executory contracts except the executory
contract with Datanational. The Debtors anticipate a cure amount
due to Datanational in the amount of Six Hundred Forty and 49/100
Dollars ($640.49) which will be paid in full on or before the
Effective Date.

Class II secured claim of Chemical Bank are impaired. the Class II
claim shall receive the sale proceeds generated by the sales of the
Debtors’ assets up to the amount of the total unpaid pre-petition
Chemical Debt, plus interest, costs and fees, if applicable, as set
forth herein on the Effective Date or within three (3) business
days of the collection of such proceeds.

Class III secured claims of the Huntington Bank are impaired. On
the Petition Date, the balance due on the Huntington Bank
installment note was $31,452.65.  The Huntington Bank claim is
secured by a Ford pickup truck.  The Debtors do not believe that
the Huntington Bank claim is fully secured.

Class V unsecured claims of the Debtors' Insiders are impaired. The
Debtors shall make no distribution to the Class V creditors unless
the Class IV creditors are paid in full. In the event the Class IV
creditors are paid in full, the Class V creditors shall be paid
their pro rata share of any funds available for distribution.

Class VI Debtors' equity holders are impaired. The Debtors shall
continue in existence as Michigan corporations and/or limited
liability companies through the wind down process.

The Debtors are liquidating their assets and ceasing all
operations. This Plan shall be funded through the proceeds of the
sales of assets and the collection of accounts receivable.

A full-text copy of the Disclosure Statement dated September 13,
2019, is available at https://tinyurl.com/y35sm9dl from
PacerMonitor.com at no charge.

Attorneys for Debtors:

     Lynn M. Brimer, Esq.
     Pamela S. Ritter, Esq.
     Strobl Sharp PLLC
     300 East Long Lake Road, Suite 200
     Bloomfield Hills, MI 48304-2376
     Telephone: (248) 540-2300
     Facsimile: (248) 645-2690
     Email: lbrimer@stroblpc.com
            pritter@stroblpc.com

                     About K&D Industrial

Since 1974, K&D Industrial Services -- http://www.kdigroup.com/--
has provided industrial and environmental services to customers in
virtually every industry.  Founded by Ken Liabenow and Dennis
Springer, K&D focuses on cleaning, removing and treating hazardous
and non-hazardous materials originating from process residual or
industrial waste.  Key business areas include industrial cleaning
services, environmental remediation services, hazardous and
non-hazardous transportation services, and treatment services.  K&D
services the entire Midwest through its six office locations in
Michigan, Ohio and Kentucky.

K&D Industrial Services Holding Co., Inc. and its affiliates sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D.
Mich. Case No. 19-43823) on March 15, 2019.  At the time of the
filing, K&D Industrial disclosed zero assets and $3,369,495 in
liabilities.  K&D Industries, one of K&D Industrial affiliates,
disclosed $937,714 in assets and $8,736,715 in liabilities.  The
cases are assigned to Judge Phillip J. Shefferly.  Strobl Sharp
PLLC is the Debtors' counsel.


KDO INDUSTRIES: Granted Cash Collateral Access on Interim Basis
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of New York
authorized the limited use of cash collateral by KDO Industries,
Inc., from Sept. 4 until Sept. 18, 2019 to pay ordinary and
customary expenses of up to $29,000, pursuant to the budget, except
for payments of interest.  

Bridgehampton National Bank, Internal Revenue Service and Porter
Capital will be granted postpetition liens, as adequate protection,
to the extent of the Debtor's use of cash collateral.  

                       About KDO Industries

KDO Industries, Inc., manufactures fabricated structural metal and
steel or other metal products for structural purposes.

KDO Industries sought Chapter 11 protection (Bankr. E.D.N.Y. Case
No. 197-76060) in Central Islip, New York, on Sept. 3, 2019.  In
the petition signed by Lucelle Del Rosario, president, the Debtor
disclosed total assets at $333,317 and total liabilities at
$2,369,989.  The Hon. Alan S. Trust is the case judge.  BERGER,
FISCHOFF, SHUMER, WEXLER & GOODMAN, LLP is the Debtor's counsel.




KK SUB II: Court Conditionally Approves Disclosure Statement
------------------------------------------------------------
The disclosure statement filed by KK SUB II LLC is conditionally
approved.

November 19, 2019, at 11:00 a.m. in Courtroom 403, 515 Rusk St.,
Houston, Texas, is fixed for the final hearing on the disclosure
statement (if a written objection has been timely filed) and for
the hearing on confirmation of the plan.

November 6, 2019 is fixed as the last day for filing and serving
written objections to the disclosure statement and confirmation of
the plan.

                      About KK Sub II LLC

Based in Houston, Texas, KK Sub II LLC filed a voluntary petition
under Chapter 11 of Title 11 of the Bankruptcy Code (Bankr. S.D.
Tex. Case No. 19-33366) on June 17, 2019, listing under $1 million
in both assets and liabilities. Deirdre Carey Brown, Esq., at
Hoover Slovacek LLP is the Debtor's counsel.


LASALLE GROUP: Committee Taps Drinker Biddle as Legal Counsel
-------------------------------------------------------------
The official committee of unsecured creditors of The LaSalle Group,
Inc., received approval from the U.S. Bankruptcy Court for the
Northern District of Texas to hire Drinker Biddle & Reath LLP as
its legal counsel.

The firm will provide these services to the committee in connection
with the Chapter 11 cases filed by LaSalle Group and its
affiliates:

     (a) attend meetings of the committee;

     (b) review financial and operational information furnished by
the Debtors to the committee;

     (c) investigate and determine the value of any unencumbered
assets;

     (d) analyze and negotiate the budget and the terms of any
proposed debtor-inpossession financing;

     (e) assist in any efforts to sell assets of the Debtors in a
manner that maximizes the value for creditors;

     (f) review and analyze plan-related issues and pursue
confirmation of a plan;

     (g) review and investigate the liens of purported secured
parties;

     (h) review and investigate pre-bankruptcy transactions in
which the Debtors or their insiders were involved;

     (i) confer with the Debtors' management, counsel and financial
advisors;

     (j) review the Debtors' schedules, statements of financial
affairs and business plan;

     (k) advise the committee as to the ramifications of all the
Debtors' activities and motions before the court;

     (l) file pleadings, motions and objections on behalf of the
committee;

     (m) review and analyze the Debtors' financial professionals'
work product and report to the committee on such analyses;

     (n) provide the committee with legal advice in relation to the
Chapter 11 cases; and

     (o) prepare various applications and memoranda of law to be
submitted to the court for consideration.

The principal attorneys and paralegals of Drinker Biddle who will
be representing the committee and their hourly rates are:

     Vincent Slusher          Partner       $1,010
     Stacy Lutkus             Counsel         $650
     Kristen Perry            Associate       $515
     Antoinette Snodgrass     Associate       $515
     Daniel Northrop          Paralegal       $425
     Cathy Greer              Paralegal       $350

Vincent Slusher, Esq., a partner at Drinker Biddle, disclosed in
court filings that the firm neither holds nor represents any
interest adverse to the Debtors' bankruptcy estates.

Drinker Biddle can be reached through:

     Vincent P. Slusher, Esq.
     Drinker Biddle & Reath LLP
     1717 Main St., Suite 5400
     Dallas, TX 75201-7367
     Phone: (469) 357-2571/(469) 357-2500  
     Fax: (469) 327-0860
     E-mail: vince.slusher@dbr.com

                      About The LaSalle Group

The LaSalle Group, Inc., along with certain of its subsidiaries,
designs, develops, builds, and owns interests in memory care
assisted living communities designed specifically for people with
Alzheimer's and other forms of dementia.  The communities operate
under the name Autumn Leaves.

LaSalle is a holding company for numerous wholly owned, non-debtor
subsidiaries and affiliates.  It directly and indirectly owns
interests in 40 memory care assisted living communities located in
Texas, Illinois, Georgia, Florida, Kansas, Missouri, Oklahoma,
South Carolina, and Wisconsin.

LaSalle and its subsidiaries sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. N.D. Tex. Lead Case No. 19-31484) on
May 2, 2019.  At the time of the filing, the Debtors estimated
assets of between $10 million and $50 million and liabilities of
the same range.  

The cases are assigned to Judge Stacey G. Jernigan.

The Debtors tapped Crowe & Dunlevy, P.C. as their legal counsel;
Haynes and Boone, LLP as special counsel; Karen Nicolaou of Harney
Partners Management, LLC as chief restructuring officer; and
Donlin, Recano & Company, Inc. as claims and noticing agent.

The Office of the U.S. Trustee appointed a committee of unsecured
creditors on July 3, 2019.


LASALLE GROUP: Seeks to Hire Weaver and Tidwell as Auditor
----------------------------------------------------------
The LaSalle Group, Inc., seeks approval from the U.S. Bankruptcy
Court for the Northern District of Texas to hire Weaver and
Tidwell, LLP as auditor.

The firm will audit the financial statements of the Debtor's
employee benefit plan, prepare a written report outlining the audit
results, and file its annual reports for year-end 2018 with the
U.S. Department of Labor.

The firm will charge a flat fee of $15,000 for its services.

Weaver and Tidwell is "disinterested" within the meaning of Section
101(14) of the Bankruptcy Code, according to court filings.

The firm can be reached through:

     Aracely Rios
     Weaver and Tidwell, LLP
     2300 North Field Street, Suite 1000
     Dallas, TX 75201
     Phone: 972.490.1970
     Fax: 972.702.8321

                      About The LaSalle Group

The LaSalle Group, Inc., along with certain of its subsidiaries,
designs, develops, builds, and owns interests in memory care
assisted living communities designed specifically for people with
Alzheimer's and other forms of dementia.  The communities operate
under the name Autumn Leaves.

LaSalle is a holding company for numerous wholly owned, non debtor
subsidiaries and affiliates.  It directly and indirectly owns
interests in 40 memory care assisted living communities located in
Texas, Illinois, Georgia, Florida, Kansas, Missouri, Oklahoma,
South Carolina, and Wisconsin.

LaSalle and its subsidiaries sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. N.D. Tex. Lead Case No. 19-31484) on
May 2, 2019.  At the time of the filing, the Debtors estimated
assets of between $10 million and $50 million and liabilities of
the same range.  

The cases are assigned to Judge Stacey G. Jernigan.

The Debtors tapped Crowe & Dunlevy, P.C., as their legal counsel,
and Donlin, Recano & Company, Inc. as their claims and noticing
agent.


LEE'S CAR: Seeks to Hire Rubin & Associates as Accountant
---------------------------------------------------------
Lee's Car Service, Inc., seeks approval from the U.S. Bankruptcy
Court for the Northern District of Illinois to hire Rubin &
Associates, P.C., as its accountant.

The firm will prepare the Debtor's financial statements, monthly
operating reports and tax returns; oversee the maintenance of its
financial records; and assist in the presentation of financial
statements.

The firm's hourly rates are:

         Leslie Rubin   $225
         Associate      $195
         Clerical        $75
  
No member of Rubin & Associates has any connection with the Debtor,
creditors or any other "party in interest," according to court
filings.

The firm can be reached through:

     Leslie Rubin
     Rubin & Associates, P.C.
     900 Skokie Blvd., Suite 122
     Northbrook, IL 60062
     Tel: 847-498-3433
     Fax: 847-498-7997

                      About Lee's Car Service

Lee's Car Service, Inc., sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Ill. Case No. 19-22944) on Aug. 14,
2019.  At the time of the filing, the Debtor was estimated to have
assets of between $100,001 and $500,000 and liabilities of the same
range.  The case is assigned to Judge Janet S. Baer.  The Debtor is
represented by Xiaoming Wu, Esq., at Borges and Wu, LLC.


LEGACY RESERVES: Nov. 6 Plan Confirmation Hearing
-------------------------------------------------
The Bankruptcy Court has approved the disclosure statement
explaining the Chapter 11 plan of reorganization of Legacy Reserves
Inc. and its affiliated debtors.

The Court set the following confirmation schedule:

   Confirmation Hearing       Nov. 6, 2019
                              at 10:00 a.m. (CT)

   Plan Objection
   Deadline                   Oct. 28, 2019

Class 6 General Unsecured Claims are unimpaired. Holders of Allowed
General Unsecured Claims against the Debtors shall receive, at the
option of the applicable Debtor (i) payment in full in Cash in the
ordinary course of business of the Debtors and Reorganized Debtors;
or (ii) Reinstatement on the Effective Date.

Class 3 RBL Claims are impaired. The RBL Claims shall be satisfied
in full by one of the following: (i) in the event that the Exit
Facility is consummated, at the option of the Holder, distribution
of its Pro Rata share of commitments under the RBL Exit Facility or
New Term Loan Facility (each as defined in and in the manner set
forth in the Exit Facility Term Sheet) in exchange for its Allowed
RBL Claim; or (ii) in the event that the Exit Facility is not
consummated and the Debtors consummate an Alternative Exit
Facility, payment in full in cash of its Allowed RBL Claim without
offset, recalculation, reduction, or deduction of any kind.

Class 4 Term Loan Claims are impaired. Each Holder of an Allowed
Term Loan Claim shall receive its Pro Rata share of the Term Loan
New Common Stock Shares.

Class 5 Notes Claims are impaired. Each Holder of an Allowed Notes
Claim9 shall receive its respective Pro Rata share of the Notes
Claim Shares. Holders of Notes Claims that are Qualified
Noteholders will receive Subscription Rights to participate in the
Rights Offering.

Class 7 Intercompany Claims. Intercompany Claims shall be, at the
option of the applicable Debtor with the consent of the Plan
Sponsor, either (i) Reinstated; or (ii) canceled, released, and
extinguished, and will be of no further force or effect without any
distribution.

Class 8 Intercompany Interests. Intercompany Interests shall be, at
the option of the applicable Debtor with the consent of the Plan
Sponsor, either (i) Reinstated; or (ii) canceled, released, and
extinguished, and will be of no further force or effect without any
distribution.

Class 9 Existing Common Equity Interests are impaired. Existing
Common Equity Interests shall be canceled, released, and
extinguished, and will be of no further force or effect.

The Debtors and the Reorganized Debtors, as applicable, will fund
distributions under the Plan with: (1) Cash on hand, including Cash
from operations; (2) proceeds from the Exit Facility or Alternative
Exit Facility; (3) proceeds from the Rights Offering and Backstop
Commitments; and (4) the proceeds of any Incremental Equity
Investment or New Exit Note, as applicable.

A full-text copy of the Disclosure Statement dated September 13,
2019, is available at https://tinyurl.com/yxqfcutl from
PacerMonitor.com at no charge.

A full-text copy of the Disclosure Statement dated September 16,
2019, is available at https://tinyurl.com/y34a8abn from
PacerMonitor.com at no charge.

Attorneys for the Debtors:

     Duston McFaul, Esq.
     Charles M. Persons, Esq.
     Michael Fishel, Esq.
     Maegan Quejada, Esq.
     SIDLEY AUSTIN LLP
     1000 Louisiana Street, Suite 5900
     Houston, Texas 77002
     Telephone: (713) 495-4500
     Facsimile: (713) 495-7799

        -- and --

     James F. Conlan, Esq.
     Bojan Guzina, Esq.
     Andrew F. O'Neill, Esq.
     SIDLEY AUSTIN LLP
     One South Dearborn Street
     Chicago, Illinois 60603
     Telephone: (312) 853-7000
     Facsimile: (312) 853-7036

                   About Legacy Reserves

Legacy Reserves Inc. (NASDAQ: LGCY) --
http://www.legacyreserves.com/-- is an independent energy company
engaged in the development, production and acquisition of oil and
natural gas properties in the United States.  Its current
operations are focused on the horizontal development of
unconventional plays in the Permian Basin and the cost-efficient
management of shallow-decline oil and natural gas wells in the
Permian Basin, East Texas, Rocky Mountain and Mid-Continent
regions.

Legacy Reserves Inc. and 10 subsidiaries sought Chapter 11
protection (Bankr. S.D. Tex. Lead Case No. 19-33395) on June 18,
2019.  At the time of the filing, the Debtors had estimated assets
of between $500 million and $1 billion and liabilities of between
$1 billion and $10 billion.

The Hon. David R. Jones is the case judge.

Perella Weinberg Partners and its affiliate, Tudor Pickering Holt &
Co., is acting as financial advisor for the Company, Sidley Austin
LLP is acting as legal advisor, and Alvarez & Marsal is acting as
restructuring advisor.  Kurtzman Carson Consultants LLC --
http://www.kccllc.net/legacyreserves-- is the claims agent.       

PJT Partners LP is acting as financial advisor for the Second Lien
Lenders, and Latham & Watkins LLP is acting as legal advisor.
Houlihan Lokey is acting as financial advisor for the Ad Hoc Group
of Senior Noteholders, and Davis Polk & Wardwell LLP is acting as
legal advisor.  RPA Advisors, LLC is acting as financial advisor to
Wells Fargo Bank, as administrative agent for the RBL Lenders, and
Orrick Herrington & Sutcliffe LLP is acting as legal advisor.


LIVE OUT LOUD: Secureds to Get Monthly Interest-Only Payments
--------------------------------------------------------------
Live Out Loud, Inc., filed a second amended Plan of Reorganization
and accompanying Second Amended Disclosure Statement.

Class 1 (Valney Secured Claim). The Allowed Secured Claim shall
bear interest at the rate of 13% on the unpaid principal balance,
with monthly interest-only payments due on the 7th day of each
month, all due and payable on September 7, 2024.

Class 2 (Zibeli Secured Claim). The Allowed Secured Claim shall
bear interest at the rate of on the unpaid principal balance, with
monthly interest-only payments due on the 7th day of each month,
all due and payable on September 7, 2024.

Class 3 (Ford Motor Credit Secured Claim). The Allowed Secured
Claim shall bear interest at the rate of 15% per annum, and shall
be amortized with equal monthly payments over a period of five
years. Payments shall commence on the 19th day of the next month
following the Confirmation Date.

Class 4 (Unsecured Claims). Allowed Unsecured Claims shall reserve
a pro rata distribution from the Funding Contribution as described
in Section 7.1, after the payment in full of all Administrative
Claims, Priority Claims (including any taxes associated with the
sale of the business) and fees to the United States Trustee.


Class 5 (Shareholder Interest). The shareholder interest in the
Debtor shall be cancelled as of the Effective Date. The new
shareholder shall be the entity providing the Funding Contribution
as described in Section 8.4.1.

The Debtor's business shall be marketed as set forth in Section
8.4.2. The successful purchaser shall pay cash for the purchase of
the business.

A full-text copy of the Second Amended Disclosure Statement dated
September 9, 2019, is available at https://tinyurl.com/y34kmdu9
from PacerMonitor.com at no charge.

Counsel for Debtor:

     ALAN R. SMITH, Esq.
     Law Offices of Alan R. Smith
     505 Ridge Street
     Reno, Nevada 89501
     Telephone (775) 287-6850
     Facsimile (775) 786-3066
     E-mail: arsnevad52@gmail.com

                About Live Out Loud

Live Out Loud, Inc. is a Nevada corporation which is in the
business of providing financial seminars, consulting services, and
other forms of financial advice.  It is located at 195 Highway 50,
Zephyr Cove, Nevada.

Live Out Loud filed a chapter 11 petition (Bankr. D. Nev. Case No.
18-51074) on Sept. 26, 2018.  In the petition signed by Loral
Langemeier, president, the Debtor disclosed $70,515 in assets and
$4,068,941 in liabilities.

The case has been assigned to Judge Bruce T. Beesley.  Alan R.
Smith, Esq., at the Law Offices of Alan R. Smith, serves as the
Debtor's counsel.


LOOT CRATE: Seeks Approval to Hire Theseus, Appoint CTO
-------------------------------------------------------
Loot Crate, Inc., seeks approval from the U.S. Bankruptcy Court for
the District of Delaware to hire Theseus Strategy Group LLC and
appoint the firm's managing director Mark Palmer as chief
transformation officer.

Mr. Palmer and his firm will provide management consulting and
operational restructuring advisory services to Loot Crate and its
affiliates.  They will also help the Debtors meet the conditions
under an asset purchase agreement to be entered into with Money
Chest LLC.

Theseus will be paid a flat fee of $250,000 for its services from
the petition date through the closing of the sale of their assets.

The firm is "disinterested" within the meaning of Section 101(14)
of the Bankruptcy Code, according to court filings.

Theseus can be reached through:

     Mark E. Palmer
     Theseus Strategy Group, LLC
     747 Third Ave., 26th Floor
     New York, NY 10017
     Tel: 646-696-9029
     Email: Mark@TheseusStrategy.com

                         About Loot Crate

Founded in 2012, Loot Crate, Inc., is a worldwide leader in fan
subscription boxes.  It partners with industry leaders in
entertainment, gaming, sports and pop culture to deliver monthly
themed crates; produces interactive experiences and digital
content; and films original video productions.  Since 2012, the
company has delivered more than 32 million crates to fans in 35
territories across the globe.

Loot Crate and three affiliates sought Chapter 11 protection
(Bankr. D. Del. Lead Case No. 19-11791) on Aug. 11, 2019.  Loot
Crate was estimated to have less than $50 million in assets and $50
million to $100 million in liabilities as of the bankruptcy
filing.

The Debtors tapped Bryan Cave Leighton Paisner LLP as lead counsel;
Robinson & Cole LLP as Delaware and conflicts counsel; FocalPoint
Securities, LLC, as investment banker; Portage Point Partners as
financial advisor; and Mark Palmer of Theseus Strategy Group as
chief transformation officer.  Bankruptcy Management Solutions,
Inc., which conducts business under the name Stretto, is the claims
agent and maintains the site https://case.stretto.com/lootcrate.


MATRA PETROLEUM: U.S. Trustee Unable to Appoint Committee
---------------------------------------------------------
The Office of the U.S. Trustee on Sept. 18 disclosed in a court
filing that no official committee of unsecured creditors has been
appointed in the Chapter 11 cases of Matra Petroleum USA, Inc. and
Matra Petroleum Operating, LLC.

                      About Matra Petroleum

Matra Petroleum USA Inc. and its subsidiaries are Houston-based
independent oil and gas companies focusing on oil and gas
production and development of oil & gas leases all located in
Texas.  As is well known, operating and market conditions in the
oil and gas industry have undergone a profound transformation in
recent years leading many companies to seek chapter 11 relief.    

Matra Petroleum USA and its subsidiaries sought Chapter 11
protection (Bankr. S.D. Tex. Lead Case No. 19-34190) on July 31,
2019.  

Matra Petroleum USA estimated $10 million to $50 million in assets
and $50 million to $100 million in liabilities.  As of July 1,
2019, the Debtors had combined secured debt in excess of $70
million, secured by liens on substantially all of the Debtors'
assets, cash and equity.

The Hon. David R. Jones is the case judge.  

The Debtors tapped Hoover Slovacek LLP as counsel, and Macco
Restructuring Group, LLC as financial advisor.


METRO-GOLDWYN-MAYER: S&P Alters Outlook to Neg, Affirms B+ ICR
--------------------------------------------------------------
S&P Global Ratings revised the outlook on U.S.-based
Metro-Goldwyn-Mayer Inc. (MGM) to negative from stable and affirmed
all ratings, including the 'B+' issuer credit rating.

The rating action reflects S&P's expectation that
Metro-Goldwyn-Mayer Inc.'s (MGM's) credit metrics, particularly
leverage and operating cash flow (OCF), will remain weak throughout
2019 due to high content investment spending and lower studio
revenue from the delayed release of Bond 25. S&P now expects
leverage at the end of 2019 to be about 8x compared to its previous
forecast of the high-4x range. It forecasts credit metrics to
improve in 2020 due to the release of Bond 25, but are uncertain if
the company can generate significant return on its original content
investment to return EPIX to profitability and reduce leverage
below the rating agency's 4.75x threshold for the rating.

The company announced in 2018 that it was ramping up its content
investments in its media networks, film and television units, and
S&P expects the company will allocate a sizeable portion of
incremental content investments toward new original content on its
pay-TV network Epix, which faces greater competition in the premium
network space and could fail to generate significant return on
investment. Also, MGM postponed the release of Bond 25 from
November 2019 to April 2020, as well as other key television
deliveries, which will defer about $125 million of adjusted EBITDA
from 2019 to future years. In addition, the company is making
additional targeted investments in 2019 including new original
content offerings for EPIX and additional content spending and
general and administrative investments to support growth in its
television segment.

"The negative outlook reflects the risk to our expectation of
significant improvement in OCF in 2020. Any underperformance in
MGM's television deliveries and film studio, particularly Bond 25,
could lead to further delays in OCF generation and reduced
leverage," S&P said, adding that this could occur if the company
fails to generate significant return on investment in its content
investments, especially via subscriber growth at EPIX, which could
delay a return to profitability for its media networks segment.

"We could lower the rating if we don't expect the company to reduce
leverage below 4.75x by year-end 2020, keep OCF to debt above 10%,
or we are convinced that the business is not on a path to
consistently generating cash flow at Epix," S&P said. This could
happen if the television business does not grow as expected in
2020, the investment in original programming at Epix does not
result in substantial subscriber growth, or if Bond 25 does not
perform in line with prior releases, according to the rating
agency.

"We could revise our outlook back to stable if MGM executes its
strategy and we are confident it will decrease leverage below 4.75x
and grow its OCF to debt above 10% on a sustained basis. This would
likely occur if MGM successfully grows EPIX's subscribers in 2020,
returns to profitability in its media networks segment, and
generates healthy cash flows at its TV and film studio, including
with a successful release of Bond 25," S&P said.


METRONET HOLDINGS: S&P Assigns 'B-' ICR, Outlook Stable
-------------------------------------------------------
S&P Global Ratings assigned a 'B-' issuer credit rating and stable
outlook to MetroNet Holdings LLC, which is planning to raise $380
million of new debt to refinance existing debt and fund investment
in newer markets.

S&P also assigned a 'B' issue-level rating and '2' recovery rating
to the proposed secured first-lien credit facilities reflecting
value from earnings in mature markets and fiber assets in
developing markets, and a 'CCC' issue-level rating and '6' recovery
rating to the second-lien to reflect expectations for minimal
recovery.

The ratings on MetroNet reflect an aggressive financial policy
resulting in elevated pro forma leverage of about 15x in fiscal
2019 (fiscal year end is Sept. 30) as well as execution risk
associated with entering over a dozen new markets. The ratings also
reflect intense competition from larger players (including
incumbent cable providers), limited geographic diversity, and its
small scale. However, S&P also considers Metronet's targeted
expansion approach focusing on markets with favorable demographics,
cost efficient fiber connectivity, and no other fiber-to-the-home
(FTTH) competition. The company has proven successful in several
mature markets providing a credible path to deleveraging over time
due to EBITDA growth from market expansion, increased broadband
penetration and favorable industry trends stemming from the rising
demand for bandwidth.

S&P said, "The stable outlook reflects our expectation that
MetroNet will be able to significantly reduce leverage to the 9.5x
area through earnings growth over the next 12 months as the company
develops new markets and increases its broadband penetration."

"We could lower the rating if aggressive competition or execution
missteps resulted in an inability to increase penetration, such
that the company could not sufficiently increase EBITDA and
organically reduce leverage, leading us to assess the capital
structure as unsustainable."

"Although unlikely in the near term, we could raise the rating if
leverage improved to below 6.5x and we believed it would be
sustained at that level. This would also be predicated on positive
free operating cash flow (FOCF) generation, reflecting successful
execution of the company's development projects."


MIAMI METALS I: Oct. 7 Final Disclosure Statement Hearing
---------------------------------------------------------
The final hearings on the adequacy of the amended joint disclosure
statement explaining the Chapter 11 Plan of Miami Metals I, Inc.,
et al., formerly known as Republic Metals Refining Corporation,
scheduled to be held on September 26, 2019, at 11:00 a.m.
(prevailing Eastern Time), has been adjourned and rescheduled to be
held on October 7, 2019 at 11:00 a.m. (prevailing Eastern Time).

The Official Committee of Unsecured Creditors, the Secured Parties
and Bayside Metal Exchange, Coeur Rochester, Inc. c/o Coeur Mining,
Inc., Cyber-Fox Trading, Inc., Minera Real de Oro S.A. de C.V.,
Pyropure, Inc., So Accurate Group, Inc., Tiffany and Company,
Laurelton Sourcing, LLC, Yamana Gold, Inc., Pretium Exploration,
Inc. and Premier Gold Mines Limited, each on behalf of itself and
its respective affiliates support approval of this Disclosure
Statement and confirmation of the Plan.

Pursuant to the Final Cash Collateral Order, the Secured Parties
agreed to increase the Carve-Out by $9,500,000 to include the
following: (i) $5,500,000 for the funding of a litigation reserve
for the prosecution of claims against the Debtors’ insiders,
auditors and other third parties and the administration of the
Litigation Trust effective upon the entry of the Final Cash
Collateral Order and (ii) $4,000,000 for the funding of a reserve
for allowed claims under Section 503(b)(9) of the Bankruptcy Code
effective on the Plan Effective Date.

The Debtors will fund (i) the Estate Litigation Fund from Cash
Collateral promptly after the entry of the Final Cash Collateral
Order and (ii) the 503(b)(9) Fund from Cash Collateral on the Plan
Effective Date. Upon the Debtors' funding of the Estate Litigation
Fund and the 503(b)(9) Fund in accordance with the preceding
sentence, the Secured Parties shall have no further funding
obligations in connection therewith.

Pursuant to the Final Cash Collateral Order, in the event that it
is determined that the Secured Parties did not have an interest in
all or some part of the Cash Collateral (as defined in the Cash
Collateral Orders) used to fund the Carve-Out, by a final
non-appealable order by a court of competent jurisdiction, the
Secured Parties shall promptly disgorge to the Debtors, Litigation
Trust, Chapter 7 trustee, or the beneficiary of the Carve-Out
payment, as applicable, or otherwise satisfy with equivalent funds,
an amount equal to the Carve-Out (or if lesser, an amount equal to
the portion, in the aggregate, of the Cash Collateral that was used
to fund or satisfy an obligation that was part of the Carve-Out in
which the Secured Parties were determined to not have an
interest).

Finally, the Final Cash Collateral Order further provides that the
Debtors shall establish a segregated account containing, at all
times, an amount equal to the total then outstanding Ownership
Claims asserted pursuant to the Uniform Procedures Order, excluding
those Ownership Claims which have been previously settled,
withdrawn or adjudicated by Final Order at such time. The Ownership
Reserve shall be maintained by the Debtors or any successor thereto
(including any chapter 7 or chapter 11 trustee, the Litigation
Trust, or any successor to the Debtors following the dismissal of
the Chapter 11 Cases) and shall only be disbursed pursuant to the
terms of the Plan or further Order of the Court.

Pursuant to the Cash Collateral Orders, the Secured Parties assert
an Adequate Protection Superpriority Claim in excess of $25,267,000
on account of the postpetition diminution in value of their
collateral.

On July 19, 2019, the Bankruptcy Court entered an Order sustaining
the Debtors' First Omnibus Objection to Claims Asserted Pursuant to
11 U.S.C. Section 503(b)(9), which, together with an Agreed Order
on that Objection and certain settlements entered into as of the
date hereof, reduced the total amount of 503(b)(9) claims by over
$12 million to approximately $42.7 million.  Of the $42.7 million
in remaining 503(b)(9) claims, creditors holding approximately
$38.2 million of such claims have agreed to support the Plan and
the proposed 503(b)(9) treatment thereunder either through the Plan
Support Agreement or individual settlements.

The Plan Support Agreement provides, inter alia, that: "On the
Effective Date, the Secured Parties will assign the following to
the Litigation Trust: all rights, claims, and causes of action that
any Secured Party may have against any employee, director, officer,
agent, auditor, accountant, "insider" or any other person or entity
that was employed by or provided professional services to the
Debtors, arising out of or relating in any way to the Secured
Parties relationship or transactions with the Debtors, including,
without limitation, the Secured Parties' respective claims asserted
in the complaint dated February 1, 2019 filed in the US District
Court for the Southern District of Florida, Case No.
19-20429-cv-Williams, against Lindsey Rubin, but not including:

   i. any claims of the Secured Parties against Rose Rubin under
(i) that certain Limited Guaranty Agreement, dated as of August 31,
2018, made by Rose Rubin in favor of the Secured Parties or (ii)
that certain Forbearance Agreement, dated as of August 7, 2018,
among the Secured Parties and Republic Metals Corporation (as
amended); or

  ii. any the proceeds of any claims that the Secured Parties have
or may have against Maria I. Machado, P.A., Crowe LLP and
EisnerAmper LLP that arise out of or relate in any way to the
Secured Parties' relationship or transactions with the Debtors,
including, without limitation, the action captioned Cooperative
Rabobank U.A., New York Branch, et al. v. Crowe LLP, Case No.
2019-018945-CA-01 pending in the 11th Judicial Circuit Court for
Miami-Dade County, Florida.

Subject to any reasonable agreement with respect to a contingency
fee, the net proceeds of any Auditor/Lender Claim shall be
distributed (i) first, 100% to the Secured Parties until the
Secured Parties receive $3,000,000; (ii) second, 50% to the Secured
Parties and 50% to the Litigation Trust until the Secured Parties
receive an additional $5,500,000; and (iii) third, 100% to the
Litigation Trust.

On the Effective Date, the Secured Parties will assign the
Litigation Trust’s portion of the net proceeds of any
Auditor/Lender Claim pursuant to the Auditor Claim Waterfall to the
Litigation Trust.

The first $1 million in net proceeds generated from either the
Assigned Claims against the Debtors' current or former officers
and/or the Retained Causes of Action against the Debtors' current
or former officers shall be distributed to the Secured Parties.

A full-text copy of the Amended Joint Disclosure Statement dated
September 13, 2019, is available at https://tinyurl.com/y5hgaypr
from PacerMonitor.com at no charge.

Attorney for Debtor:

     John E. Mitchell, Esq.
     Yelena Archiyan, Esq.
     AKERMAN LLP
     2001 Ross Avenue, Ste. 3600
     Dallas, TX 75201
     Tel.: (214) 720-4300
     Fax: (214) 981-9339

        --  and --

     Andrea S. Hartley, Esq.
     Joanne Gelfand, Esq.
     Esther A. McKean, Esq.
     Katherine C. Fackler, Esq.
     AKERMAN LLP
     98 Southeast Seventh Street, Ste. 1100
     Miami, FL 33131
     Tel: (305) 374-5600
     Fax: (305) 374-5095

                     About Miami Metals I

Founded in 1980, Republic Metals Refining Corporation and its
affiliates are refiner of precious metals with a primary focus on
gold and silver.  They have the capacity to produce approximately
80 million ounces of silver and 350 tons of gold, along with over
55 million pieces of minted products per annum.  Suppliers ship
unrefined gold and silver to Republic for refining from all over
the United States and the Western Hemisphere.  They provide their
products and services to a diverse base of global mining
corporations, financial institutions and jewelry manufacturers.

Republic Metals Refining, Republic Metals Corporation and Republic
Carbon Company, LLC, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D.N.Y. Case Nos. 18-13359 to 18-13361) on
Nov. 2, 2018.  Republic Metals Refining Corporation is now known as
Miami Metals I, Inc.; Republic Metals Corporation as Miami Metals
II, Inc.; and Republic Carbon Company as Miami Metals III LLC.

In the petition signed by CRO Scott Avila, Republic Metals Refining
estimated assets of $1 million to $10 million and liabilities of
$100 million to $500 million.

The Debtors tapped Akerman LLP as their legal counsel; Paladin
Management Group, LLC as financial advisor; and Donlin, Recano &
Company, Inc., as claims and noticing agent.


MONEYONMOBILE INC: Investigation Complete in "Fraud" Allegation
---------------------------------------------------------------
MoneyOnMobile, Inc., received the final report issued from a
third-party firm the Company engaged, which is headquartered in
Washington D.C., regarding its investigation into allegations made
by the Company's former auditors in a letter dated Sept. 4, 2018.
The Company engaged this firm in India beginning in early 2019 to
perform the firm's recommended procedures to access the accuracy of
allegations made by RBSM, LLP as part of its resignation process.

The third-party firm was provided full access to Company management
in the United States and certain former employees and consultants
in India.  The firm also was provided agreements, technical
accounting memos, and underlying accounting books and records of
the Company's U.S. entity as well as its Indian subsidiaries for
multiple fiscal years to complete their investigation.

According to the auditor's letter, the allegations were based
solely on a single cited verbal only discussion with a single
senior member of the management team of the Company's Indian
subsidiaries.  Based on this communication, the auditor identified
indicators of possible fraud including possible recognition of
fictitious revenue, understating liabilities and potential
concealment or misappropriation of cash.  The Board of Directors
and the Audit Committee of the Company subsequently received
unsolicited written communication from this same cited senior
manager who described the comments attributed to him as far-fetched
and at best erroneously interpreted.

The auditor's allegations were not supported by any documents
provided by the auditors themselves or that were discovered by the
firm which undertook the investigation of those allegations.

The Company said that upon reviewing the final report of the
third-party firm's investigation, it was provided no evidence that
substantiated any of the allegations made by RBSM, LLP relating to
fraud, understatement of liabilities, and/or misappropriate of
assets.  Further, the investigation supported the Company's
treatment and presentation of events and transactions as accurate,
complete and timely.  The Company acknowledges certain issues
relating to the completeness of related party disclosures within
its financial statements, however, these disclosures, taken
individually and as a whole, would not impact the investment
decision in the Company's securities by an average investor.  The
Company's Board of Directors has reported to Management that it now
considers the abovementioned investigation complete and closed with
no further action deemed necessary.

                      About MoneyOnMobile

MoneyOnMobile, Inc., headquartered in Dallas, Texas --
http://www.money-on-mobile.com/-- is a global mobile payments
technology and processing company offering mobile payment services
through its Indian subsidiary.  MoneyOnMobile enables Indian
consumers to use mobile phones to pay for goods and services or
transfer funds from one cell phone to another.  It can be used as
simple SMS text functionality or through the MoneyOnMobile
application or internet site.  MoneyOnMobile has more than 335,000
retail locations throughout India.

MoneyOnMobile reported a net loss of $13.09 million for the year
ended March 31, 2017, following a net loss of $19.72 million for
the year ended March 31, 2016.  The Company's balance sheet at Dec.
31, 2017, showed $27.67 million in total assets, $30.02 million in
total liabilities, $1.22 million in preferred stock Series D, $5.70
million in preferred stock Series F, and a total stockholders'
deficit of $9.27 million.

Liggett & Webb, P.A., in New York, issued a "going concern" opinion
in its report on the Company's consolidated financial statements
for the year ended March 31, 2017, noting that the Company has
experienced recurring operating losses and negative cash flows from
operating activities.  These conditions raise substantial doubt
about the Company's ability to continue as a going concern.


MONOTYPE IMAGING: S&P Assigns 'B-' ICR; Outlook Stable on LBO
-------------------------------------------------------------
S&P Global Ratings assigned its 'B-' issuer credit rating to
Woburn, Mass.-based Monotype Imaging Holdings Inc. and its 'B-'
issue-level and '3' recovery ratings to the company's proposed $50
million secured revolving credit facility due 2024 and $440 million
first-lien term loan due 2026.

Monotype, a font foundry and font software licensing provider, is
issuing a $50 million first-lien revolving credit facility, a $440
million first-lien term loan, and a $135 million second-lien term
loan to support its $863 million (enterprise value) leveraged
buyout by HGGC.

S&P said, "The 'B-' rating on Monotype Imaging Holdings Inc.
reflects our expectations for high starting debt leverage expected
around 7.3x at year-end 2019, its narrow focus on font technologies
and relatively small revenue scale, the execution risk around the
company's continued transition to focus on growth in enterprise
sales sufficient to offset or exceed declines in printer-related
sales, and risks around the delivery and timing of the proposed
cost savings. These key risks are offset by our view of Monotype's
established leadership position within the global market for font
licensing, anchored by its leading suite of font intellectual
property (IP) assets, limited at-scale competition, some revenue
visibility from recurring license contracts (about 71% of sales are
recurring, which we consider average for software providers), and
our belief that the company is well positioned to benefit from
solid Enterprise license growth prospects."

"The stable outlook reflects our expectation for low-single-digit
revenue growth and sufficient free cash flow generation to support
debt leverage around 7x as the company progresses on executing
identified cost savings over the next 12-18 months. We expect
limited disruption to operations as costs are restructured to
optimize and invest in the company's Enterprise segment, which we
expect will offset declines in Monotype's mature printing
segment."

"We could consider raising the rating on Monotype if S&P Global
Ratings-calculated debt to EBITDA improved on a sustained basis to
the low-6x area, while FOCF to debt improved to the
mid-single-digit percent area, likely driven by achieving a return
to the company's historical 40% EBITDA margins while growing its
EBITDA base with recurring Enterprise contract wins."

"We could lower our rating if we believe the company's capital
structure is unsustainable in the longer term due to negative free
cash flow persisting over multiple quarters and declining revenues.
We believe this could occur if the company experiences an
unforeseen drop in EBITDA (for example, high attrition rates in
Enterprise customers, or unforeseen operating challenges) such that
credit protection measures and the company's liquidity position are
significantly weakened. We see this as a low probability scenario
and view a downgrade over the next 12 months to be unlikely."


MOVING BODY: To Pay C&S Bank Monthly Payments Over 120 Months
-------------------------------------------------------------
Moving Body & Soul, LLC, filed an amended small business Chapter 11
case and accompanying disclosure statement.

Class 1. Secured Claims of Growth Capital Corp. and Ford Motor
Credit Company, LLC. Ford Motor Credit Company LLC filed a secured
claim in the amount of $9,349.40 and is secured by a 2013 Ford
Transit Connect Wagon titled to the Debtor. The Debtor proposes to
pay the regular monthly installment due each creditor in the
ordinary course as they becomes due and payable.

Class 2. Secured Claim of Commercial and Savings Bank. Commercial
and Savings Bank filed a secured claim in the amount of $72,523.43
and is secured by all the assets of the Debtor and a 1st position
lien on John Green's primary residence located at 2864 Hastings
Road, Silverlake, OH 44224. The Debtor proposes to pay Commercial
and Savings Bank the balance due on its claim in equal monthly
payments over a period of (120) months, beginning November 1, 2019,
and bearing interest at 5.5%, with regular monthly installments
estimated to be $781.95.

Class 3. Secured Claims of Huntington National Bank, Notes 1 & 2.
Huntington National Bank filed a secured claim in the amount of
$59,438.91 as the claim relates to Huntington Notes 1 & 2 and is
secured by a 1st position lien on all the assets of the Debtor.
Debtor proposes to pay Huntington the balance due on its claim as
it relates to Note 1 & Note 2 in equal monthly payments over a
period of (36) months, beginning November 1, 2019, and bearing
interest at the respective contract rates, with regular monthly
installments estimated to be $1,294.96 and $490.16, respectively.

Class 4. Secured Claim of Huntington National Bank, Note 3.
Huntington filed a secured claim in the amount of $50,371.53 as the
claim relates to Note 3 and is secured by a 1st position lien on
all the assets of the Debtor. Debtor proposes to pay Huntington the
balance due on its claim as it relates to Note 3 in equal monthly
payments over a period of (48) months, beginning November 1, 2019,
and bearing interest at the respective contract rate, with regular
monthly installments estimated to be $1,162.82.

Class 5. Classes of General Unsecured Claims. The Debtor believes
the total amount due general unsecured creditors is $164,000.00.
Debtor proposes to pay general unsecured claimants 100% of their
claim in equal monthly installments over a period of (72) months,
beginning on January 1, 2021, with a total estimated monthly
distribution to Class 5 claimants being $3,370.77.

Class 6. Classes of Equity Interest Holders. John and Carolyn Green
each hold a 50% equity interest in the Debtor. John & Carolyn Green
shall retain their equity interest upon confirmation of the Plan.

The Debtor proposes to implement the Plan with cash available on
the Effective Date of the Plan and with future periodic payments
generated from anticipated future revenue.

A full-text copy of the Amended Disclosure Statement dated
September 9, 2019, is available at https://tinyurl.com/yxmwbs8w
from PacerMonitor.com at no charge.

Attorney for the Debtor:

     Steven J. Heimberger, Esq.
     50 S. Main St., 10th Floor
     Akron, Ohio 44308
     (330) 434-3000, telephone
     (330) 434-9220, fax
     Email: sheimberger@rlbllp.com

Moving Body & Soul, LLC, filed a voluntary Chapter 11 petition
(Bankr. N.D. Ohio Case No. 19-51030) on May 3, 2019, and is
represented by Steven Heimberger, Esq., at Roderick Linton Belfance
LLP, in Akron, Ohio.


MR. TORTILLA: Oct. 10 Hearing on Disclosure Statement
-----------------------------------------------------
A hearing has been set for October 10, 2019, at 1:00 p.m., to
determine the adequacy of the Second Amended Disclosure Statement
describing Mr. Tortilla, Inc.'s Second Amended Chapter 11 Plan of
Reorganization.  Any response or opposition to the Disclosure
Statement must be filed and served no later than September 26,
2019.

Class 4A - General Unsecured Claims are impaired. Class 3A will be
paid $50,000, to be shared pro rata amongst the claimants; this is
estimated to pay 8.3% of each claim. Payments will be made in sixty
(60) equal monthly installments of $834 each, starting on the first
day of the first month following the Effective Date.

Class 1 - Valley Economic Development Council are impaired. The
treatment of Class 1 shall be pursuant to that Stipulation executed
by the parties at Docket No. 109 (attached hereto as Exhibit
“G”) which is incorporated fully into the Plan by this
reference, and summarized as follows:

Secured Claim - In treatment of the Secured Claim, Debtor shall
pay, and VEDC shall have its Secured Claim in the amount of
$324,497.11 payable at $4,000.00 per month for 7 years at 6% per
annum with a balloon at the end in the amount of $81,059.77; The
monthly payments shall commence within one month of the effective
date of the plan and shall continue each month thereafter for 7
years.

Unsecured Claim - VEDC shall receive, in full and final
satisfaction of its Unsecured Claim, its pro rata share of the
dividend issued to general unsecured creditors under Debtor’s
Plan.

Class 4B - Insider Unsecured Claims are impaired. These insider
claims are subordinated to the claims held by Class 3A claims such
that these insider claims will be paid only in the event that all
other Class 3A general unsecured claims have first been satisfied.
If that condition is not met within the 5-year Plan, these claims
will be discharged. If that condition is met within the 5-year
Plan, these claimants will be paid a lump sum of $10,000, to be
shared pro rata amongst the claimants.

The Debtor will fund the Plan from its business operations and the
funds it has/will have accumulated in its Debtor-in-Possession bank
accounts.

A full-text copy of the Second Amended Disclosure Statement dated
September 13, 2019, is available at https://tinyurl.com/y3npvo5m
from PacerMonitor.com at no charge.

Attorneys for Debtor:

     Roksana D. Moradi-Brovia, Esq.
     RESNIK HAYES MORADI LLP
     17609 Ventura Blvd., Suite 314
     Encino, CA 91316
     Telephone: (818) 285-0100
     Facsimile: (818) 855-7013
     Email: roksana@RHMFirm.com

                       About Mr. Tortilla

Mr. Tortilla, Inc., is a manufacturer of traditional flour tortilla
(fresh or refrigerated) in San Fernando, California.  Mr. Tortilla
filed a Chapter 11 petition (Bankr. C.D. Cal. Case No. 18-12051) on
Aug. 14, 2018.  In the petition signed by Anthony Alcazar,
president, the Debtor estimated $100,000 to $500,000 in assets and
$1 million to $10 million in liabilities.  The case is assigned to
Judge Victoria S. Kaufman.  Jonathan M. Hayes, Esq., at Resnik
Hayes Moradi LLP, is the Debtor's counsel.


MUSA ELJAMAL: Barr & Morgan Sues for $500K in Legal Fees
--------------------------------------------------------
Connecticut Law Tribune reports that Barr & Morgan, a
Stamford-based law firm, has sued a former client for more than
$500,000, allegedly owed on legal bills.

In the lawsuit filed in the U.S. District Court for the District of
Connecticut, Barr & Morgan claims its former client of about seven
years, New York-based gas station operator Musa Eljamal, reneged on
attorney bills after filing for bankruptcy protection.

Eljamal, 73, of Ardsley, New York, has owned more than 20 gas
stations, convenience marts and car washes in New York.

According to Law Tribune, Barr & Morgan says the businessman owes
about half a million dollars for legal counsel for several of his
businesses over the years.  Its suit claims the law firm
represented Eljamal in at least 11 litigated matters before
multiple courts.

In June 2015 Eljamal's son and business partner, Sammy, filed a
voluntary bankruptcy petition.  One of his companies, a Yonkers,
New York-based Snack Mart, also sought Chapter 11 protection.

But despite the alleged guarantees by Eljamal of the payment of
fees owed by Sammy and Snack Mart for services rendered by the
firm, the lawsuit claims Musa Eljamal failed to pay, then later
"terminated any communication" with the law firm Feb. 21.

"It is now clear that the defendant has no intention of paying the
fees for services rendered," the firm alleged.

The case is scheduled before U.S. District Judge Jeffrey Meyer for
the District of Connecticut.

The son's Chapter 11 bankruptcy case is In re Sammy Eljamal (Bankr.
S.D.N.Y. Case No. 15-22872).

The Snack Mart's Chapter 11 case is In re Yonkers Central Avenue
Snack Mart, Inc. (Bankr. S.D.N.Y. Case No. 15-22824).  The petition
was filed June 11, 2015.  Snack Mart was estimated to have less
than $50,000 in assets and liabilities as of the bankruptcy filing.


MUSCLEPHARM CORP: CEO Elects to Convert $18M Note Into Shares
-------------------------------------------------------------
Mr. Ryan Drexler, the chief executive officer, president and
chairman of the Board of Directors of MusclePharm Corporation, a
Nevada corporation, delivered a notice to the Company and its
independent directors of his election to convert, effective as of
Sept. 16, 2019, $18,000,000 of the amount outstanding under that
certain Amended and Restated Convertible Secured Promissory Note,
dated as of Nov. 8, 2017, issued by the Company to Mr. Drexler,
into shares of the Company's common stock, par value $0.001 per
share, at a conversion price of $1.11 per share, pursuant to the
terms and conditions of the Note (the "Partial Conversion").

As of the Notice Date, the total amount outstanding under the Note
(including principal and accrued and unpaid interest) was equal to
$19,262,910.15.  Pursuant to the terms of the Note, the Company has
instructed the transfer agent for its shares to issue to Mr.
Drexler 16,216,216 shares of its Common Stock in respect of the
Partial Conversion.  The Note will remain outstanding in accordance
with its terms in respect of all amounts in excess of the
$18,000,000 that is subject to the Partial Conversion.

                       About MusclePharm

Headquartered in Denver, Colorado, MusclePharm Corporation
(OTCQB:MSLP) -- http://www.musclepharm.com/and
http://www.musclepharmcorp.com/-- develops, manufactures, markets
and distributes branded nutritional supplements.  Its portfolio of
recognized brands includes MusclePharm Sport Series, Essential
Series and FitMiss, as well as Natural Series, which was launched
in 2017.  These products are available in more than 100 countries
worldwide.  MusclePharm is an innovator in the sports nutrition
industry with clinically proven supplements that are developed
through a six-stage research process utilizing the expertise of
leading nutritional scientists, physicians and universities.

MusclePharm incurred a net loss of $10.97 million in 2017 compared
to a net loss of $3.47 million in 2016.  As of Sept. 30, 2018, the
Company had $28.34 million in total assets, $45.82 million in total
liabilities, and a total stockholders' deficit of $17.47 million.


NJE CORP: U.S. Trustee Unable to Appoint Committee
--------------------------------------------------
The U.S. Trustee, until further notice, will not appoint an
official committee of unsecured creditors in the Chapter 11 case of
NJE Corp., according to court dockets.

                          About NJE Corp.

NJE Corp. sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. S.D. Fla. Case No. 19-20756) on Aug. 12, 2019.  At the time
of the filing, the Debtor disclosed assets of between $500,001 and
$1 million and liabilities of the same range.  The case is assigned
to Judge Raymond B. Ray.  The Debtor is represented by Advantage
Law Group, P.A.


NORPAC FOODS: HM Clause, G. Smith Appointed as Committee Members
----------------------------------------------------------------
Gregory Garvin, acting U.S. trustee for Region 18, on Sept. 18
appointed HM Clause, Inc. and George Smith as new members of the
official committee of unsecured creditors in the Chapter 11 cases
of NORPAC Foods, Inc. and its affiliates.

Meanwhile, VLM Foods USA Ltd. resigned as committee member.

As of Sept. 18, the members of the committee are:

     (1) Packaging Corporation of America
         1 N. Field Court Lake Forest, Illinois 60045
         Attention: Vince Carrera
         Phone: 847-482-8747
         Fax: 847-482-8749
         VinceCarrera@packagingcorp.com

     (2) Syngenta Seeds, LLC  
         P.O. Box 18300   
         Greensboro, NC 27419
         Attention: David Conaway, Esq.
         Phone: 704-576-4490
         dconaway@shumaker.com

     (3) Mohawk Northern Plastics, LLC  
         dba Ampac  
         701 A Street NE
         Auburn, WA 98002
         Attention: Eric Bradford, CFO
         Phone: 920-967-8605
         Eric.bradford@proampac.com

     (4) International Paper Co.
         6400 Poplar Ave.
         Memphis, TN 38197
         Attention: Bruce Gilliland
         Phone: 901-419-1346
         bruce.gilliland@ipaper.com

     (5) Pension Benefit Guaranty Corp.
         1200 K. Street, NW
         Washington, D.C. 20005
         Attention: Donika Hristova
         Phone: 202-229-3126
         Fax: 202-326-4112
         hristova.donika@pbgc.gov

         Counsel: Cassandra Burton
         Phone: 202-229-6778
         burton.cassandra@pbgc.gov

     (6) HM. Clause, Inc.
         26 Cousteau Place, Ste. 210
         Davis, CA 95618
         Attention:  Vartan Saravia, Esq.
         Phone: 530-747-3748
         Cell: 530-746-1680
         Vartan.saravia@hmclause.com

     (7) George Smith
         9601 Oakmont Lane
         Stayton, OR 97383
         Attention: Jay Kornfeld
         Phone: 503-931-2743 (George Smith)              
         Phone: 206-521-3860  (Jay Kornfeld)
         jkornfeld@bskd.co

                      About NORPAC Foods Inc.

Founded in 1924 and headquartered in Salem, Ore., NORPAC Foods,
Inc. (www.norpac.com), a farmer-owned cooperative, along with its
wholly-owned subsidiaries Hermiston Foods, LLC and Quincy Foods,
LLC is an independent, standalone processor of organic and
conventional frozen vegetables and fruits in the Pacific Northwest.
NORPAC is a cooperative owned by more than 140 members.  

Quincy and Hermiston are single-member limited liability companies
whose sole member is NORPAC.  The Debtors own and operate raw
processing plants in Brooks and Stayton, Ore., a packaging plant in
Salem, Ore., and a raw processing, packaging, and roasting facility
in Quincy, Wash.  The Debtors have more than 1,125 full-time
employees along with up to 1,100 seasonal employees.  The Debtors
have a diverse supplier base built on an extensive network of more
than 220 contract growers made up of family-owned farms (145 farms
in Oregon and 75 farms in Washington) spanning more than 40,000
acres.

NORPAC Foods, Hermiston Foods and Quincy Foods sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. D. Ore. Lead Case
No. 19-62584) on Aug. 22, 2019.

At the time of the filing, NORPAC Foods disclosed assets of between
$100 million and $500 million and liabilities of the same range.
The other Debtors had estimated assets of between $10 million and
$50 million and liabilities of between $100 million and $500
million.  

The cases have been assigned to Judge Peter C. McKittrick.

The Debtors tapped Tonkon Torp LLP as legal counsel;
SierraConstellation Partners LLC as restructuring advisor; and
Kurtzman Carson Consultants LLC as noticing agent.


NORTHPOINTE GROUP: Taps James E. Vieh as Special Counsel
--------------------------------------------------------
The Northpointe Group, LLC, received approval from the U.S.
Bankruptcy Court for the District of Arizona to hire James E. Vieh,
PLC, as its special counsel.

The firm will represent the Debtor in a case styled The Northpointe
Group, LLC v. Maroney and Brower (CV2019-003286).

The firm will be paid on a contingency basis.  If there is a
recovery, the fee will be 33 1/3% of (i) the gross amount received
by way of settlement or (ii) the gross amount if judgment is
rendered after trial or abitration.   

James E. Vieh is "disinterested" within the meaning of Section
101(14) of the Bankruptcy Code, according to court filings.

The firm can be reached through:

     James E. Vieh, Esq.
     James E. Vieh, PLC
     4422 N. Civic Center Plaza, Suite 201
     Scottsdale, AZ 85251
     Phone: (480) 707-5000

                   About The Northpointe Group
  
The Northpointe Group LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Ariz. Case No. 19-07900) on June 26,
2019.  At the time of the filing, the Debtor was estimated to have
assets of less than $50,000 and liabilities of the same range.  The
case is assigned to Judge Daniel P. Collins.  The Debtor is
represented by Barski Law PLC.


OFFSHORE DRILLING: Fitch Affirms 'CC' LT Issuer Default Ratings
---------------------------------------------------------------
Fitch Ratings affirmed Offshore Drilling Holding, S.A.'s Long-Term
Foreign and Local Currency Issuer Default Ratings at 'CC'. Fitch
has also affirmed the company's USD950 million of senior secured
notes due Sept. 20, 2020 at 'CC'/'RR4'.

ODH's ratings reflect the high likelihood that the company will
default on its principal payments in 2020 given its cash flow from
operations has been seriously compromised and refinancing will
prove to be difficult. The Recovery Rating of 'RR4' assigned to
ODH's senior secured notes reflects Fitch's expectations of an
average recovery of between 31% and 50% given default as a result
of weak demand for ultra-deep-water semi-submersible drilling rigs
in Mexico, the company's main market.

KEY RATING DRIVERS

Inevitable Restructuring: Fitch expects ODH must forego a
restructuring process during 2020 as it will likely miss principal
payments under the international notes. Through a combination of
negotiation with suppliers and lenders and asset sales, the company
has been able to manage debt service repayments. Fitch expects the
company will continue to honor interest expense up until the
maturity of the notes especially after Petroleos Mexicanos'
subsidiaries (PEMEX; BB+/Negative) USD230 million compensation
after terminating the contracts for Bicentenario and Centenario.
Fitch believes it will be very difficult for the company to be
awarded new contracts in the short-to-medium term under current
market conditions for offshore drilling in Mexico and that any
potential award should come at insufficiently low day rates
limiting cash flow generation.

Weak Liquidity: ODH's liquidity is weak as a result of weak cash
flow generation, weak cash on hand and inevitable restructuring
expected in 2020, partially mitigated by the notes interest reserve
account of around USD79.4 million as of Sept. 13, 2019, which is
sufficient to cover two interest amortizations, and last years'
settlement agreement with PEMEX, which has contributed to interest
and operating expenses payments. As of June 2019, the company
reported around USD4 million of cash and equivalents but the amount
available at the holdco is unknown. During the past year, the
company has successfully renegotiated obligation terms with
suppliers and banks to accommodate financial obligations. As the
notes maturity approach, Fitch expects future renegotiations to be
tougher. The company's tight debt amortization profile remains at
risk.

Weak Contracted Position: Fitch expects ODH contracted position
will remain weak contributing to weak cash flow generation with
EBITDA in the range of USD130 million to USD160 million in the near
term. Currently, only one UDW semi-submersible rig, La Muralla IV,
and two jack-up, Cantarelli I and Cantarelli II, are contracted
with expiration in March 2020 with additional one-year extension
and August 2021 with additional two-year extension, respectively.
Bicentenario and Centenario, the other two semi-submersible, are in
warm stocking implying fixed costs requirement of USD2 million per
month. During 2018, the company was able to sell two jack-ups,
Paraiso I and Canterelli IV, which were under construction with its
main rig supplier Keppel Fels. Another jack-up, Cantarelli III, is
currently under a construction delay while the company works on the
sale of the asset.

Partial Structural Subordination: ODH's senior secured notes are
guaranteed by the unencumbered restricted subsidiaries that own the
Centenario and Bicentenario drilling rigs and are structurally
subordinated to project-finance bank loans, mainly related to the
financing of the La Muralla IV rig of approximately USD128 million
due in September 2020 and to the financing of Cantarelli I and
Cantarelli II jack ups of approximately USD213 million due in
December 2023. These amounts are as of Dec. 31, 2018. The bank
loans have certain cash-sweep provisions restricting cash flow
distributions to ODH. Once the related financing is repaid, La
Muralla IV will become a co-guarantor of the notes.

Increasing Competition in Weak Market: Under currently low oil
prices environment, PEMEX's subsidiaries, ODH's main clients, are
focusing activities in shallow water fields and have recently
reduced demand for ultra-deep-water rigs weakening ODH's contracted
position. The recent deep-water oil blocks awarded in Mexico are
bringing back various players into the market and increasing demand
for rig operators through 2020, when exploration for oil block
concessions will expire. Nevertheless, oil producers will likely
favor long-term relationships with drill suppliers offering very
competitive prices. While ODH benefits from a competitive position
in the Mexican market and a good relationship with off-taker PEMEX,
the recent consolidation in the global oilfield services sector has
weakened the company's competitive position in an evolving industry
that favors larger players.

DERIVATION SUMMARY

ODH's business risk is similar to other peers in the deteriorated
drilling services environment such as QGOG Constellation' (RD) in
Brazil and China-based Anton Oilfield Services Group (B/Stable).
ODH is rated two notches above QGOG, which has missed interest
payment on its notes after the 30-day grace period and is under
restructuring process. Anton is rated three notches above ODH due
to the completion of the company's new USD300 million 2020 bond
issuance as well as order book growth, steady contract execution,
and stabilising conditions in its oilfield-service market.

KEY ASSUMPTIONS

Fitch's Key Assumptions Within Its Rating Case for the Issuer

  -- La Muralla IV remains contracted at day rate of $300,000 to
     350,000 until 2022.

  -- Bicentenario and Centenario are re-contracted in 2021 at a
     day rate of $150,000 each.

  -- Opex for Bicentenario and Centenario of $75,000/day on warm
     stocking until re-contracted.

  -- Jack-ups, Cantarelli I and Cantarelli II, contracted until
     2023 at day rate between $115,000 to $130,000 each.

KEY RECOVERY RATING ASSUMPTIONS

  -- The recovery analysis assumes that ODH would be considered a
     going-concern in bankruptcy and that the company would be
     reorganized rather than liquidated.

  -- Fitch has assumed 10% of value is allocated for
     administrative claims.

Going-Concern Approach

  -- ODH's going concern EBITDA is based on 2018 EBITDA with a
     10% discount.

  -- The going-concern EBITDA estimate reflects Fitch's view of a
     sustainable, post-reorganization EBITDA level upon which
     Fitch bases the valuation of the company.

  -- An EV multiple of 5x is used to calculate a post-
     reorganization valuation and reflects a mid-cycle multiple.
     The estimate considered the following factors:

  -- Most of ODH's debt is secured with different collateral
     packages. The USD950 million notes are secured by interest
     in Centenario and Bicentenario. Bank loans are secured by
     La Muralla IV and jack-ups.

RATING SENSITIVITIES

Developments That May, Individually or Collectively, Lead to
Positive Rating Action

  -- No positive rating actions are currently contemplated over
     the near term given the expectations of low cash flow
     generation and Fitch's projections for leverage that exceeds
     through-the-cycle levels.

Developments That May, Individually or Collectively, Lead to
Negative Rating Action

  -- A negative rating action may be considered if ODH announces
     a debt restructuring that materially reduces terms in
     comparison with original terms or if it fails to timely
     pay interest or principal of an obligation due in accordance
     with its terms.

LIQUIDITY

As aforementioned, Fitch considers ODH's liquidity as weak as a
result of weak cash flow generation, low cash on hand and
inevitable restructuring expected in 2020.

FULL LIST OF RATING ACTIONS

Fitch has affirmed ODH's ratings as follows:

  -- Long-Term Foreign and Local Currency IDRs at 'CC';

  -- Senior secured notes at 'CC'/'RR4'.


OPENLINK INTERNATIONAL: S&P Puts 'B-' ICR on Watch Positive
-----------------------------------------------------------
S&P Global Ratings placed its 'B-' issuer credit rating on OpenLink
International Holdings Inc., provider of enterprise software
solutions for trading and risk management, on CreditWatch with
positive implications.

The CreditWatch placement follows ION Investment Group's
announcement that it intends to combine Wall Street Systems
Holdings, OpenLink International Holdings, and Triple Point
Holdings to form ION Corporate Solutions Finance Ltd. The $1.75
billion first-lien term loan and $180 million of common equity
raised at ION Corporates will be used to repay the existing debt of
the three entities.

S&P will resolve the CreditWatch when the merger closes or when all
of OpenLink's outstanding debt is repaid, at which time it expects
to withdraw its rating on OpenLink.


PALM BEACH BRAIN: U.S. Trustee Unable to Appoint Committee
----------------------------------------------------------
The U.S. Trustee, until further notice, will not appoint an
official committee of unsecured creditors in the Chapter 11 cases
of Palm Beach Brain and Spine, LLC and its affiliates Midtown
Outpatient Surgery Center, LLC and Midtown Anesthesia Group, LLC,
according to court dockets.
  
                  About Palm Beach Brain & Spine

Palm Beach Brain & Spine -- http://www.pbbsneuro.com-- is a
medical practice providing neurosurgery, minimally invasive spine
surgery and treatment for cancer of the brain and spine.

Palm Beach Brain & Spine and two affiliates, Midtown Outpatient
Surgery Center, LLC and Midtown Anesthesia Group, LLC, concurrently
filed voluntary petitions for relief under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Fla. Lead Case No. 19-20831) on August
15, 2019. The petitions were signed by Dr. Amos O. Dare, manager.

Palm Beach Brain estimated $13,412,202 in assets and $2,685,278 in
liabilities. Midtown Outpatient estimated $6,857,558 and
$2,920,846, and Midtown Anesthesia estimated $5,081,861 in assets.

Dana L. Kaplan, Esq. and Craig I. Kelley, Esq., at Kelley Fulton &
Kaplan, P.L. are the Debtors' counsel.


PALMETTO CONSTRUCTION: Seeks to Hire California Construction
------------------------------------------------------------
Palmetto Construction Services, LLC, seeks approval from the U.S.
Bankruptcy Court for the District of New Jersey to hire a
contractor to refurbish its properties.

In an application filed in court, the Debtor proposes to employ
California Construction Services, LLC and pay the firm not more
than $50,000 for its services.

Ray Renneker of California Construction disclosed in court filings
that his firm is not adverse to the Debtor.

                   About Palmetto Construction

Palmetto Construction Services, LLC, sought Chapter 11 protection
(Bankr. D.N.J. Case No. 19-21051) on May 31, 2019, estimating less
than $1 million in both assets and liabilities. Jared A. Geist,
Esq., at Geist Law LLC, is the Debtor's counsel.


PEABODY ENERGY: S&P Rates $900MM Sr. Secured Notes Due 2026 'BB'
----------------------------------------------------------------
S&P Global Ratings assigned its 'BB' issue-level rating and '2'
recovery rating to U.S.–based coal producer Peabody Energy
Corp.'s proposed $900 million senior secured notes due 2026. The
'2' recovery rating indicates S&P's expectation for substantial
recovery (70%-90%; rounded estimate: 80%) in the event of a payment
default. The company will use the proceeds from these notes, along
with $100 million in cash, to repay $495.3 million of its
outstanding secured notes due 2022 and $481 million of its
outstanding secured notes due 2025.

As part of this transaction, Peabody expects to also upsize its
$350 million cash flow revolver to $565 million through 2020 before
subsequently reducing it to $540 million through 2023.

S&P's 'BB' issue-level rating and '2' recovery rating on the
company's existing term loan due 2025 remain unchanged.

At the same time, S&P is withdrawing all of its ratings associated
with the initially proposed transaction, which it assigned on Sept.
5, 2019.

All of S&P's other ratings on Peabody remain unchanged.

ISSUE RATINGS--RECOVERY ANALYSIS

Key analytical factors

-- Peabody's proposed capital structure remains fully secured and
now principally comprises a $565 million revolving credit facility
through 2020 (before it is downsized to $540 million through 2023;
$71 million of letters of credit outstanding as of June 30, 2019)
and a $250 million accounts receivable (AR) facility ($130 million
in letters of credit outstanding as of June 30, 2019) due April
2022. The company also has a term loan with $395 million
outstanding due 2025 and is issuing $900 million of new secured
notes due 2026.

-- S&P's simulated default scenario contemplates a collapse in
international met and thermal coal prices. It anticipates a steady
drop in domestic thermal demand due to intense competition from
cheap natural gas and coal plant retirements. This would lead to
idling material capacity in the Powder River Basin, Midwestern, and
Western regions. Under this scenario, Peabody's deteriorating
liquidity, looming 2023 revolver maturities, and limited access to
capital would contribute to a default in 2023.

-- To calculate the distressed enterprise value S&P used a 5x
EBITDA multiple, which is consistent with the multiples it uses for
other metals and mining upstream companies.

-- S&P's bankruptcy scenario assumes Peabody's postretirement
health care obligation ($546 million outstanding) is not rejected
in reorganization but continues to weigh on the recovery prospects
for the company's secured debt. Therefore, S&P reduces its gross
recovery value by the approximately $273 million (50% haircut to
outstanding value) postretirement health care obligation at
default.

-- At the time of default, S&P assumes that Peabody's revolver and
AR facility are 85% and 100% drawn, respectively.

Simulated default assumptions

-- Year of default: 2023
-- EBITDA at emergence: $419 million
-- Implied enterprise value multiple: 5x
-- Gross enterprise value: $2.1 billion

Simplified waterfall

-- Domestic value (55% of gross enterprise value, less $273
million pension adjustment): $836 million

-- Available domestic value (domestic value, less 5%
administrative expenses, less $128 million in priority claims):
$709 million

-- Value available for secured claims: ($709 million available
domestic value, $583 million pledged from foreign subsidiaries,

-- $144 million share of unpledged value): 1.41 billion

-- Estimated domestic senior secured claims: $1.74 billion

-- Recovery expectations: 70%-90% (rounded estimate: 80%)

Note: All debt amounts include six months of accrued but unpaid
interest at default.


PENSKE AUTOMOTIVE: Egan-Jones Lowers Sr. Unsecured Ratings to BB-
-----------------------------------------------------------------
Egan-Jones Ratings Company, on September 10, 2019, downgraded the
foreign currency and local currency senior unsecured ratings on
debt issued by Penske Automotive Group Incorporated to BB- from BB.
EJR also downgraded the rating on commercial paper issued by the
Company to B from A3.

Penske Automotive Group, headquartered in Bloomfield Hills,
Michigan, is an international company that operates automotive and
commercial dealerships principally in North America and Europe.



PERFORMANCE FOOD: S&P Assigns Prelim 'B+' Rating to Unsec. Notes
----------------------------------------------------------------
S&P Global Ratings assigned its preliminary 'B+' issue-level rating
and preliminary '5' recovery rating to the $1.06 billion senior
unsecured notes proposed by U.S.-based Performance Food Group Inc.
(PFG) to partly finance its pending acquisition of Reinhart
Foodservice.  

The net proceeds will be funded into escrow until the conditions
precedent for completing the acquisition are satisfied. If the
acquisition does not close, the notes will be redeemed.

S&P expects the company will fund the remainder of the $2 billion
purchase price with $300 million to $400 million of new equity
proceeds and borrowings under its upsized asset-based lending
revolver (ABL).

Meanwhile, all of S&P's existing ratings on PFG, including its 'BB'
issuer credit rating, remain on CreditWatch with negative
implications. The rating agency expects to resolve the CreditWatch
placement closer to the acquisition close, and expects to lower the
issuer credit rating by one notch to 'BB-', and lower its
issue-level rating on the existing unsecured notes by one notch to
'B+'. S&P expects the rating outlook to be stable.

While the proposed acquisition should help increase scale and
expand PFG's geographic reach, the transaction will result in a
significantly increased debt burden and deterioration in credit
metrics. S&P expects to lower all of its existing ratings on PFG,
including its 'BB' issuer credit rating, by one notch upon close of
the Reinhart acquisition. When the transaction closes, S&P will
also assign a final rating to the new $1.06 billion senior
unsecured notes.

"We expect to resolve the CreditWatch placement nearer to
acquisition close. We continue to expect this to occur in the
fourth quarter of calendar 2019, subject to regulatory approval,"
S&P said.

"We expect to lower the issuer credit rating by one-notch to 'BB-',
assuming there are no material changes to the acquisition,
financing plans, and macroeconomic environment. However, we could
resolve the CreditWatch and affirm the rating if the acquisition
does not close," the rating agency said.


PG&E CORP: Trial for Tubbs Fire Victims' Claims Set for Jan. 7
--------------------------------------------------------------
Bay City News reports that a San Francisco Superior Court judge has
set a Jan. 7, 2019 date for a trial on claims against PG&E by a
small group of elderly and ill Sonoma County residents who were
harmed in the 2017 Tubbs Fire.

According to the report, Judge Teri Jackson also ruled that the
civil jury trial will be held in San Francisco Superior Court, not
in the PG&E-requested Sonoma County Superior Court.

The 37,000-acre Tubbs Fire in Napa and Sonoma counties, in which 22
people died, is the second deadliest California wildfire on record.
Although Cal Fire announced in January that the Tubbs Fire was
caused by a private electrical system in Calistoga, the 18
plaintiffs claim that PG&E should be held liable.

Lawsuits against PG&E have been put on hold as a result of PG&E's
Chapter 11 bankruptcy case.  But U.S. Bankruptcy Judge Dennis
Montali cleared the way for the Tubbs Fire trial in the state court
system when he lifted a stay on that case in August.

Bay City News notes that although the 18 plaintiffs are only a few
of the alleged Tubbs Fire victims, Judge Montali said the trial
will serve as a test case to aid his court in determining PG&E's
total wildfire liability.

                     About PG&E Corporation

PG&E Corporation (NYSE: PCG) -- http://www.pgecorp.com/-- is a
Fortune 200 energy-based holding company, headquartered in San
Francisco. It is the parent company of Pacific Gas and Electric
Company, an energy company that serves 16 million Californians
across a 70,000-square-mile service area in Northern and Central
California.

As of Sept. 30, 2018, the Debtors, on a consolidated basis, had
reported $71.4 billion in assets on a book value basis and $51.7
billion in liabilities on a book value basis.

PG&E Corp. and Pacific Gas employ approximately 24,000 regular
employees, approximately 20 of whom are employed by PG&E Corp. Of
Pacific Gas' regular employees, approximately 15,000 are covered by
collective bargaining agreements with local chapters of three labor
unions: (i) the International Brotherhood of Electrical Workers;
(ii) the Engineers and Scientists of California; and (iii) the
Service Employees International Union.

On Jan. 29, 2019, PG&E Corp. and its primary operating subsidiary,
Pacific Gas and Electric Company, filed voluntary Chapter 11
petitions (Bankr. N.D. Cal. Lead Case No. 19-30088).

PG&E Corporation and its regulated utility subsidiary, Pacific Gas
and Electric Company, said they are facing extraordinary challenges
relating to a series of catastrophic wildfires that occurred in
Northern California in 2017 and 2018. The utility said it faces an
estimated $30 billion in potential liability damages from
California's deadliest wildfires of 2017 and 2018.

Weil, Gotshal & Manges LLP and Cravath, Swaine & Moore LLP are
serving as PG&E's legal counsel, Lazard is serving as its
investment banker and AlixPartners, LLP is serving as the
restructuring advisor to PG&E. Prime Clerk LLC is the claims and
noticing agent.

In order to help support the Company through the reorganization
process, PG&E has appointed James A. Mesterharm, a managing
director at AlixPartners, LLP, and an authorized representative of
AP Services, LLC, to serve as Chief Restructuring Officer.  In
addition, PG&E appointed John Boken also a Managing Director at
AlixPartners and an authorized representative of APS, to serve as
Deputy Chief Restructuring Officer.  Mr. Mesterharm, Mr. Boken and
their colleagues at AlixPartners will continue to assist PG&E with
the reorganization process and related activities. Morrison &
Foerster LLP, as special regulatory counsel.

The Office of the U.S. Trustee appointed an official committee of
unsecured creditors on Feb. 12, 2019. The Committee retained
Milbank LLP as counsel; FTI Consulting, Inc., as financial advisor;
Centerview Partners LLC as investment banker; and Epiq Corporate
Restructuring, LLC as claims and noticing agent.

On Feb. 15, 2019, the U.S. trustee appointed an official committee
of tort claimants.  The tort claimants' committee is represented by
Baker & Hostetler LLP.


PG&E CORP: Wildfire Victims, Bondholders Offer $24-Bil. Plan
------------------------------------------------------------
The committee for wildfire victims in the bankruptcy of PG&E Corp.
and a group of unsecured noteholders said in a court filing Sept.
19, 2019, that they are prepared to present a $24 billion
reorganization plan for the power provider.

The proposal was disclosed in a Sept. 18, 2019, motion to end
PG&E's exclusive period to propose a Chapter 11 plan.  The
unsecured bondholders' previous effort to end the Debtors'
exclusivity failed, but at the status conference held on Aug. 27,
2019, the bankruptcy judge said that if the plan filed by PG&E was
"bogus" or not "legally permissible or couldn't be confirmed
without" consent of the objecting parties, the Court "probably
would be receptive to terminating exclusivity very quickly."

The California utility giant on Sept. 9, 2019, filed a proposed
bankruptcy-exit plan that intends to cap the wildfire liabilities
that forced it into bankruptcy at about $18 billion -- less than
half of what victims and insurers have said they're owed.  The
Debtor said they plan to raise a combination of debt and equity to
cover its liabilities.

The Plan was filed by the Debtors solely to maintain exclusivity,
and has a multitude of deficiencies and still doesn't have
committed financing, according to the Official Committee of Tort
Claimants (the "TCC") and the Ad Hoc Committee of Senior Unsecured
Noteholders of Pacific Gas and Electric Company.

The Tort Claimants and the Bondholders said that their Alternative
Plan focuses on resolving and fully funding the payment of the
claims held by the victims of these tragic wildfires, rather than
returns to equity holders and secondary market buyers of
subrogation claims.

"The TCC and the Ad Hoc Committee are now prepared to present the
Alternative Plan that incorporates a comprehensive settlement (the
"Wildfire Claims Settlement") of all wildfire claims against the
Debtors, including subrogation claims, valued at $24 billion, paid
with a mix of cash and equity of the Reorganized PG&E Corp., which
both the TCC and the Ad Hoc Committee believe has the best chance
to fully and fairly compensate wildfire victims.  As important, the
payments to victims under the Wildfire Claims Settlement and
Alternative Plan will be satisfied from, among other sources, fully
committed financing provided by the members of the Ad Hoc
Committee—in stark contrast to the highly conditional and
illusory "financing" that the Debtors hope will materialize to back
the Placeholder Plan.  Under the Alternative Plan, wildfire victims
will be paid through a trust that will be acceptable to the TCC and
overseen by those selected by the TCC to manage the process.  By
placing the governance of the mechanism by which wildfire victims
will be paid in the hands of the representatives of those victims,
the Alternative Plan ensures a quick and fair process for victims
to receive their recoveries," they said.

Members of the Ad Hoc Committee of Unsecured Noteholders hold in
excess of $10 billion of funded debt claims against the Debtors.
As of mid-July 2019, members of the group are Angelo, Gordon & Co.,
L.P., Apollo Global Management LLC, Aurelius Capital Management,
LP, Canyon Capital Advisors LLC, Capital Group, CarVal Investors,
Castle Hook Partners LP, Citadel Advisors LLC, Citigroup Global
Markets, Cyrus Capital Partners, L.P., Davidson Kempner Capital
Management LP, Deutsche Bank Securities Inc., Diameter Capital
Partners LP, Elliott Management Corporation, Farallon Capital
Management, L.L.C., Fir Tree Partners, Oaktree Capital Management,
L.P., Och-Ziff Capital Management Group LLC, Pacific Investment
Management Company LLC, Pacific Life Insurance Company, P.
Schoenfeld Asset Management LP, Senator Investment Group LP,
Taconic Capital Advisors LP, Third Point LLC, and Varde Partners,
Inc.

Counsel to the Official Committee of Tort Claimants:

         Robert A. Julian, Esq.
         Cecily A. Dumas, Esq.
         BAKER & HOSTETLER LLP
         160 Battery Street, Suite 100
         San Francisco, CA 94111
         Telephone: (628) 208-6434
         Facsimile: (310) 820-8859
         E-mail: rjulian@bakerlaw.com
                 cdumas@bakerlaw.com

                 - and –

         Eric E. Sagerman, Esq.
         Lauren T. Attard, Esq.
         BAKER & HOSTETLER LLP
         11601 Wilshire Boulevard, Suite 1400
         Los Angeles, CA 90025
         Telephone: (310) 820-8800
         Facsimile: (310) 820-8859
         E-mail: esagerman@bakerlaw.com
                 lattard@bakerlaw.com

Counsel to the Ad Hoc Committee of Senior Unsecured Noteholders of
Pacific Gas and Electric Company:

         Michael S. Stamer, Esq.
         Ira S. Dizengoff, Esq.
         David H. Botter, Esq.
         Abid Qureshi, Esq.
         AKIN GUMP STRAUSS HAUER & FELD LLP
         One Bryant Park
         New York, NY 10036
         Telephone: (212) 872-1000
         Facsimile: (212) 872-1002
         E-mail: mstamer@akingump.com
                 idizengoff@akingump.com
                 dbotter@akingump.com
                 aqureshi@akingump.com

                 - and –

         Ashley Vinson Crawford, Esq.
         AKIN GUMP STRAUSS HAUER & FELD LLP
         580 California Street, Suite 1500
         San Francisco, CA 94104
         Telephone: (415) 765-9500
         Facsimile: (415) 765-9501
         E-mail: avcrawford@akingump.com

                    PG&E's "Placeholder Plan"

As reported in the TCR, the Placeholder Plan provides that:

   * Up to $8.5 billion ("Subrogation Claims Cap") will be
distributed to address wildfire claims that arises from
subrogation, assignment or otherwise in connection with payments
made or to be made by an insurer on account of damages or losses
relating to any wildfire.

   * $1.0 billion will be distributed to public entities, namely,
(a) the North Bay public entities; (b) the Town of Paradise; (c)
the County of Butte; (d) the Paradise Park and Recreation District;
(e) the County of Yuba; and (f) the Calaveras County Water
District, to satisfy their wildfire claims.

   * Other wildfire claims will be capped at $8.4 billion ("Other
Wildfire Claims Cap").

PG&E later said Sept. 13, 2019, that they have agreed in principle
with entities representing approximately 85% of insurance
subrogation claims to an $11 billion settlement to resolve all such
claims arising from the 2017 Northern California wildfires and 2018
Camp Fire –- a $2.5 billion increase from the cap previously set
in the Plan.

The Tort Claimants and the Noteholders, however, raise a number of
issues:

   * The Debtors do not have the committed financing to fund the
Placeholder Plan.  The Debtors have only secured $1.5 billion in
funding from Knighthead Funds and Abrams Capital Management, L.P.
These limited commitments are entirely contingent on the Debtors
securing a total of $14 billion in substantially similar
commitments by November 7, 2019.  Moreover, the commitments from
Knighthead and Abrams will also terminate in the event that the
aggregate wildfire claims against the Debtors are in excess of
$18.9 billion, which the TCC and the Ad Hoc Committee believe
remains a strong possibility.

   * The aggregate caps on wildfire claims proposed in the
Placeholder Plan are entirely inadequate.  The Debtors have
proposed a cap of $8.4 billion on what they describe as "Other
Wildfire Claims."  But the Debtors' Aug. 9, 2019 10Q states the
Utility has determined it is probable the Utility will incur a loss
liability for the wildfire claims arising from 22 of the 2017 and
2018 wildfires in the accrued amount of $17.9 billion, which
reflects the "low end of the range of reasonably estimated losses";
it is reasonably possible that the amount of the loss will be
greater than the amount accrued; and the amount of the Utility's
possible loss liability could exceed $30 billion.

   * In order to be unimpaired, the terms of the Funded Debt Claims
must be respected, including requiring payments of make-whole
premiums and postpetition interest at the contract rate, neither of
which are provided for in the Placeholder Plan.  The Debtors will
need to reserve billions of dollars to protect the interests of the
holders of Funded Debt Claims in case the Bankruptcy Court or an
appellate court determines that they are entitled to make-whole
premiums and interest at the contract rate.

   * The Placeholder Plan violates the absolute priority rule and
thus cannot be confirmed without the consent of the classes
containing the constituents of the TCC and the Ad Hoc Committee.
The Funded Debt Claims classes are impaired as set forth above, and
the Debtors acknowledge that the Other Wildfire Claims classes are
impaired.  Yet the Placeholder Plan permits every class of
interests to be retained (subject to dilution); three of which are
not impaired at all.

                      Equity Holders

According to the TCC and the Ad Hoc Committee, since the Court's
denial of the Original Termination Motion, the Debtors have engaged
in negotiations only with the equity group represented by the Jones
Day firm and the Subrogation Group, which is itself dominated by
The Baupost Group, L.L.C., one of the Debtors' largest equity
holders.  The settlement of the Subrogation Wildfire Claims will
enrich Baupost enormously at the expense of individual wildfire
victims that have suffered actual loss. Baupost is reported to hold
more than $3.3 billion in Subrogation Wildfire Claims, much of
which, upon information and belief, was purchased at approximately
35% of face value.  The Placeholder Plan would pay Baupost's claims
at roughly 59% of face value, allowing it to reap hundreds of
millions of dollars in profit from the Debtors' plan, at the
expense of actual wildfire victims.

As of July 23, 2019, the Jones Day-represented shareholders are 683
Capital Partners, LP, Abrams Capital Management, LP, Anchorage
Capital Group, L.L.C., Caspian Capital LP, Centerbridge Partners,
L.P, D.E. Shaw Galvanic Portfolios, L.L.C., Fidelity Management &
Research Company, First Pacific Advisors, LP, Governors Lane LP,
HBK Master Fund L.P., Knighthead Capital Management, LLC, Latigo
Partners, LP, Meadowfin, L.L.C., Monarch Alternative Capital LP,
MSD Partners, L.P., MSD Capital, L.P., Newtyn Management, LLC, Nut
Tree Master Fund, LP, Owl Creek Asset Management, L.P., Pentwater
Capital Management LP, Redwood Capital Management, LLC, Sachem Head
Capital Management LP, Serengeti Asset Management LP, Silver Point
Capital, L.P., Steadfast Capital Management LP, SteelMill Master
Fund LP, Stonehill Capital Management LLC, Warlander Asset
Management, LP, and York Capital Management Global Advisors, LLC.

As of April 17, 2019, the Ad Hoc Group of subrogation claim
holders, who hold liquidated and unliquidated insurance subrogation
cliams aginst PG&E Corp.a nd Pacific Gas relating to the California
Wildfire, had around 85 members.  The members with the largest
claims are The Baupost Group LLC ($2.569 billion), Farmers
Insurance Exchange ($2.322 billion), Allstate Insurance Company
($888.7 million), and Nationwide Mutual Insurance Co. ($829.4
million).  The subrogation claimants are represented by attorneys
at DIEMER & WEI, LLP and WILLKIE FARR & GALLAGHER LLP.

                     About PG&E Corporation

PG&E Corporation (NYSE: PCG) -- http://www.pgecorp.com/-- is a
Fortune 200 energy-based holding company, headquartered in San
Francisco. It is the parent company of Pacific Gas and Electric
Company, an energy company that serves 16 million Californians
across a 70,000-square-mile service area in Northern and Central
California.

As of Sept. 30, 2018, the Debtors, on a consolidated basis, had
reported $71.4 billion in assets on a book value basis and $51.7
billion in liabilities on a book value basis.

PG&E Corp. and Pacific Gas employ approximately 24,000 regular
employees, approximately 20 of whom are employed by PG&E Corp. Of
Pacific Gas' regular employees, approximately 15,000 are covered by
collective bargaining agreements with local chapters of three labor
unions: (i) the International Brotherhood of Electrical Workers;
(ii) the Engineers and Scientists of California; and (iii) the
Service Employees International Union.

On Jan. 29, 2019, PG&E Corp. and its primary operating subsidiary,
Pacific Gas and Electric Company, filed voluntary Chapter 11
petitions (Bankr. N.D. Cal. Lead Case No. 19-30088).

PG&E Corporation and its regulated utility subsidiary, Pacific Gas
and Electric Company, said they are facing extraordinary challenges
relating to a series of catastrophic wildfires that occurred in
Northern California in 2017 and 2018.  The utility said it faces an
estimated $30 billion in potential liability damages from
California's deadliest wildfires of 2017 and 2018.

Weil, Gotshal & Manges LLP and Cravath, Swaine & Moore LLP are
serving as PG&E's legal counsel, Lazard is serving as its
investment banker and AlixPartners, LLP is serving as the
restructuring advisor to PG&E. Prime Clerk LLC is the claims and
noticing agent.

In order to help support the Company through the reorganization
process, PG&E has appointed James A. Mesterharm, a managing
director at AlixPartners, LLP, and an authorized representative of
AP Services, LLC, to serve as Chief Restructuring Officer.  In
addition, PG&E appointed John Boken also a Managing Director at
AlixPartners and an authorized representative of APS, to serve as
Deputy Chief Restructuring Officer.  Mr. Mesterharm, Mr. Boken and
their colleagues at AlixPartners will continue to assist PG&E with
the reorganization process and related activities. Morrison &
Foerster LLP, as special regulatory counsel.

The Office of the U.S. Trustee appointed an official committee of
unsecured creditors on Feb. 12, 2019. The Committee retained
Milbank LLP as counsel; FTI Consulting, Inc., as financial advisor;
Centerview Partners LLC as investment banker; and Epiq Corporate
Restructuring, LLC as claims and noticing agent.

On Feb. 15, 2019, the U.S. trustee appointed an official committee
of tort claimants.  The tort claimants' committee is represented by
Baker & Hostetler LLP.


PICK-YOUR-OWN: Taps Silver & Feldman as Legal Counsel
-----------------------------------------------------
Pick-Your-Own, Inc., received approval from the U.S. Bankruptcy
Court for the Western District of New York to hire Silver & Feldman
as its legal counsel.

The firm will provide services in connection with the Debtor's
Chapter 11 case, which include legal advice regarding its rights
and duties under the Bankruptcy Code and the preparation of a plan
of reorganization.

Silver & Feldman charges an hourly fee of $300 for the services of
its attorney.  The retainer fee is $2,500.

Sammy Feldman, Esq., the firm's attorney who will be handling the
case, is "disinterested" within the meaning of Section 101(14) of
the Bankruptcy Code, according to court filings.

Silver & Feldman can be reached through:

     Sammy Feldman, Esq.
     Silver & Feldman
     3445 Winton Place, Suite 228
     Rochester, NY 14623
     Phone: (585) 424-4760
     Email: sfeldman@silverfeldman.com

                     About Pick-Your-Own Inc.

Pick-Your-Own, Inc., sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D.N.Y. Case No. 19-20821) on Aug. 20,
2019.  At the time of the filing, the Debtor disclosed assets of
between $500,001 and $1 million and liabilities of the same range.
Silver & Feldman is the Debtor's counsel.


PONDEROSA-STATE ENERGY: Case Summary & 16 Unsecured Creditors
-------------------------------------------------------------
Debtor: Ponderosa-State Energy, LLC
        745 Fifth Avenue, Suite 537
        New York, NY 10151

Business Description: Ponderosa-State Energy LLC is a privately
                      held company in the oil and gas extraction
                      business.

Chapter 11 Petition Date: September 18, 2019

Case No.: 19-13011

Court: United States Bankruptcy Court
       Southern District of New York (Manhattan)

Judge: Hon. James L. Garrity Jr.

Debtor's Counsel: Charles Rubio, Esq.
                  DIAMOND MCCARTHY LLP
                  295 Madison Ave
                  New York, NY 10017-6417
                  Tel: (212) 430-5400
                  E-mail: charles.rubio@diamondmccarthy.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Richard Sands, manager.

A copy of the Debtor's list of 16 unsecured creditors is available
for free at:

     http://bankrupt.com/misc/nysb19-13011_creditors.pdf

A full-text copy of the petition is available for free at:

            http://bankrupt.com/misc/nysb19-13011.pdf


PRADHAN AND COMPANY: Court Conditionally Approves Plan Disclosures
------------------------------------------------------------------
The Disclosure Statement of Pradhan and Company, Inc., is
conditionally approved.

The hearing to consider final approval of the Debtor’s Disclosure
Statement (if a written objection has been timely filed) and to
consider the confirmation of the Debtor's proposed Chapter 11 Plan
is fixed and will be conducted on October 11, 2019 at 9:30 a.m. by
the Honorable Edward L. Morris in Room 204, U.S. Courthouse, 501 W.
Tenth Street, Fort Worth, Texas 76102.

October 10, 2019 at 5:00 p.m. (CST/CDT) is fixed as the last day
and time for filing and serving written objections.

All Allowed General Unsecured Claims - Class 6 are impaired. A
Class 6 Claimant holding an Allowed Unsecured Claim shall be paid a
pro rata share of $10,000.00 over sixty (60) months from the
Effective Date of the Confirmed Plan. Debtor shall begin making
payments in monthly installments on the Class 6 Claims thirty (30)
days after the Effective Date of the Confirmed Plan.

All Allowed Secured Claims of Tarrant County– Class 1 are
impaired. The allowed Class 1 claims will be paid in combined
monthly installments of $1,303.00 per month over forty-eight (48)
months commencing 30 days after the Effective Date of the Confirmed
Plan.

All Allowed Secured Claims of Texas Bank - Class 3 are impaired.
The allowed Class 3 Claim will be paid in monthly installments of
$2,530.00 per month over a twenty-year period commencing 30 days
after the Effective Date of the Confirmed Plan.

All Allowed Secured Claims of Centre Port Business Park, LLC- Class
4 are impaired. The Class 4 Claim shall be treated as a secured
claim up to the allowed amount of such claim. The estimated Class 4
claim is $5,134.96. Upon confirmation, the allowed Class 4 claim
will be paid in monthly installments of $85.58 per month over sixty
(60) months commencing 30 days after the Effective Date of the
Confirmed Plan.

Allowed Priority Claims of the Texas Commission on Environmental
Quality – Class 5 are impaired. The Class 5 Claim shall be
treated as a priority unsecured claim up to the allowed amount of
such claim. The estimated Class 5 claims are $9,217.06. Upon
confirmation, the allowed Class 5 claim will be paid in monthly
installments of $153.61 per month over sixty (60) months commencing
30 days after the Effective Date of the Confirmed Plan.

Equity Interest Holders - Class 7 are impaired. The pre-petition
interests in this Debtor shall be cancelled. The Debtor shall issue
a new equivalent unit of ownership in this Debtor to Rabi Pradhan.
In exchange for the issuance of the new equivalent unit of
ownership, Mr. Pradhan will contribute $5,000.00 in cash in new
value to the Debtor.

The Reorganized Debtor will continue to perform work in accordance
with ordinary business practices. Attached to this Plan and
Disclosure Statement as Exhibit A are Debtor’s projections for
the next twenty years which Debtor believes will permit it to make
the payments contemplated by the Plan.

A full-text copy of the Amended Disclosure Statement dated
September 9, 2019, is available at https://tinyurl.com/y4t6clys
from PacerMonitor.com at no charge.

                 About Pradhan and Company

Pradhan and Company, Inc., owns and operates a gas station located
at 15151 FAA Boulevard, Fort Worth, Texas.

Pradhan and Company sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Tex. Case No. 19-40923) on March 4,
2019.  At the time of the filing, the Debtor estimated assets of
less than $1 million and liabilities of less than $1 million.  The
case is assigned to Judge Edward L. Morris.  The Debtor tapped
Areya Holder Aurzada, Esq., at Holder Law, as its legal counsel.


PRIMARY PROVIDERS: Court Confirms 2nd Amended Plan
--------------------------------------------------
The Bankruptcy Court has confirmed the consolidated second amended
plan of reorganization filed by Primary Providers of Alabama, Inc.

In accord with the Amended Summary of Ballots filed by the Debtor,
Mr. Shepard reported to the Court that Class 1, the secured
creditor class, voted in favor of accepting the Plan. Class 1 is
impaired and entitled to vote on acceptance or rejection of
confirmation of the Plan. No classes of creditors voted in favor of
rejecting the Plan. The record reflects, and Mr. Shepard confirmed,
that no parties-in-interest filed any timely objections to
confirmation of Plan

The Court found that the Plan complied with all applicable
provisions of the Bankruptcy Code governing notice, disclosure, and
solicitation in connection with the Plan, Disclosure Statement and
all other matters considered by this Court in connection with this
case, thereby satisfying 11 U.S.C. Section 1129(a); and the Plan
was accepted by the sole voting creditor with no creditors voting
against the Plan.

Class 6 - General Unsecured Claims are impaired. Beginning on the
Effective Date, Debtor will begin making monthly payments of
$500.00, split on a pro-rata basis between all creditors in this
Class on their approved claim amounts, until the sum of 5% of the
total allowed claims in this class are paid, in addition to
interest accruing at the federal post-judgment interest rate, as
determined by 28 U.S.C. Section 1961.

Class 1 Secured Claim ServisFirst Bank are impaired. The creditor
in this class will be paid in full its approved claim amount over
the course of a 96-month term with interest accruing at the
contractually agreed rate of 4.25% with a standard amortization
schedule for the term.

Class 2 Secured Claim Lynda Hall, Tax Collector are impaired. The
creditor in this class will be paid in full their approved claim
amount over the course of a 60-month term with interest accruing at
the rate of Prime on the Effective date, as published in the Wall
Street Wall Street Journal, (5.50% as of March 5, 2019), with a
standard amortization schedule for the term.

Class 3 Disputed Secured Claim BancorpSouth Bank are impaired. The
creditor in this class will be paid in full its approved claim
amount over the course of an 84-month term with interest accruing
at the contractually agreed rate of 4.00% (Claim 11-1), with a
standard amortization schedule for the term.

Class 4 Administrative Claims of Professionals Employed by the
Debtor  are impaired. The Debtor will begin making monthly payments
of $1,000.00, split on a pro-rata basis between all Claimants in
this Class on their approved claim amounts, until the total allowed
claims in this class are paid in full. Payments to Claimants in
this class will not begin until after the Bankruptcy Court has
entered a final order approving these Claimant fees and expenses,
or on the Effective Date, whichever is later. (Estimated monthly
payment of $1,000.00, split pro rata).

Class 5 - Priority Unsecured Tax Claims are impaired. The creditor
in this class will be paid in full is approved claim amount over
the course of a 60-month term with interest accruing at the rate of
5.00%, with a standard amortization schedule for the term. New
payments will begin on the Effective Date. (Estimated monthly
payment of $438.03).

Class 7 - Interests of Equity Interest Holders in Debtor are
impaired. Equity interest holders will retain their membership
interests in the Debtor and, in order to comply with the new value
exception to the absolute priority rule, will contribute the sum of
$1,000.00 to the Debtor entity by the Plan's Effective Date.

The Debtor's normal cash flow shall be the primary source of funds
for the payments to creditors authorized by the U.S. Bankruptcy
Court's confirmation of this Plan. The Debtor reserves the right to
sell collateral for the purpose of providing some funding for the
Plan as the Debtor deems necessary.

A full-text copy of the Second Amended Plan dated September 9,
2019, is available at https://tinyurl.com/yynlzz9b from
PacerMonitor.com at no charge.

                   About Primary Providers

Primary Providers of Alabama Inc. is a Medical Group that has 2
practice medical offices located in 1 state 2 cities in the USA.
There are 6 health care providers, specializing in Family Practice,
Nurse Practitioner, being reported as members of the medical group.
Medical taxonomies which are covered by Primary Providers of
Alabama Inc. include Adult Health, Nurse Practitioner, Women's
Health, Family Medicine, Gerontology, Family.

Based in Huntsville, Alabama, Primary Providers of Alabama Inc.,
filed a voluntary case under Chapter 11 of Title 11, United States
Code (Bankr. N.D. Ala. Case No. 18-83207) on Oct. 26, 2018.  The
owner, Jason Allman, signed the petition.  At the time of filing,
the Debtor estimated $100,001 to $500,000 in assets and $500,001 to
$1 million in liabilities.  The case is assigned to Judge Clifton
R. Jessup Jr.  Tazewell Shepard at Sparkman, Shepard & Morris,
P.C., is the Debtor's counsel.


PRINT PLUS: Court Conditionally Approves Disclosure Statement
-------------------------------------------------------------
The Disclosure Statement of Print Plus Corporation is conditionally
approved.

A hearing for the consideration of the final approval of the
Disclosure Statement and the confirmation of the Plan and of such
objections as may be made to either will be held on October 10,
2019 at 9:30 a.m. at the United States Bankruptcy Court,
Southwestern Divisional Office, MCS Building, Second Floor, 880
Tito Castro Avenue, Ponce, Puerto Rico.

Any objection to the final approval of the Disclosure Statement
and/or the confirmation of the Plan must be filed and served on/or
before fourteen (14) days prior to the date of the hearing on
confirmation of the Plan.

Class 2 - Holders of Allowed General Unsecured Claims with an
estimated allowed claim amount of $11,319.23, are impaired, and are
estimated to recoup 8.83%.  General unsecured claim will receive
payment 8.83% of their Allowed Claims within the 30 days after the
Effective Date of the Plan, without interest.

The source of payments under the proposed Plan shall come from the
operation of Debtor's business.

A full-text copy of the Disclosure Statement is available at
https://tinyurl.com/y37jre6p from PacerMonitor.com at no charge.

                About Print Plus Corporation

Print Plus Corporation is a Puerto Rican company, located in the
stately city of Ponce. Print Plus offer services such as printing,
labeling, embroidery and t-shirt printing, and designing web
pages.

Print Plus filed a Chapter 11 petition (Bankr. D.P.R. Case No.
19-00797) on February 15, 2019, listing under $1 million in both
assets and liabilities. The case has been assigned to Judge Edward
Godoy.  The Debtor tapped Noemi Landrau Rivera, Esq., as its
counsel.


PRO SOUTH: Seeks Access to Lenders' Cash Collateral
---------------------------------------------------
Pro South, Inc., seeks authority from the U.S. Bankruptcy Court for
the Eastern District of Texas to use cash collateral in order to
continue operating its business.

The budget provides for $14,000 in total weekly expenses, a copy of
which is available for free at:  
          http://bankrupt.com/misc/Pro_South_10(2)_Cash_Budget.pdf

Joyce W. Lindauer, Esq., at Joyce W. Lindauer Attorney, PLLC,
discloses that there will be no hearing on the motion absent
written objections filed in Court within 14 days from the date of
service.

The Debtor says it can adequately protect the interest of its
secured lenders by providing postpetition liens, a priority claim
in the Chapter 11 case, and cash flow payments.
                       
                         About Pro South

Pro South, Inc., is a logging contractor, and operates a woodyard
and sawmill in Booneville, Mississippi.  

Pro South sought Chapter 11 protection (Bankr. E.D. Tex. Case No.
19-42427) on Sept. 4, 2019.   In the petition signed by CEO
Roderick Kagy, the Debtor estimated assets at $500,000 to $1
million, and liabilities at $1 million to $10 million.  Judge
Brenda T. Rhoades oversees the case.  JOYCE W. LINDAUER ATTORNEY,
PLLC, is counsel to the Debtor.


PROPERTY VENTURES: Files Amended Disclosure Statement
-----------------------------------------------------
The Bankruptcy Court, on Sept. 4, held a hearing on the disclosure
statement explaining Property Ventures, LLC's Chapter 11 plan.
Patrick Turner appeared for the Debtor; Craig Knickrehm appeared
for First Westroads Bank; Tyler Masterson appeared for Guaranty
Solutions, LLC; Ryan Kunhart appeared for The Gloria Ann Murante
Intervivos Revocable Trust Agreement dated the 15th Day of
November, 2002.  The Court sustained the disclosure statement
objections, denied approval of the Disclosure Statement, and
directed the Debtor to file an amended disclosure statement.

Accordingly, pursuant to the Court's order, the Debtor filed an
amended disclosure statement proposing that Class 5 General
Unsecured Claims are impaired. This Class shall consist of the
holders of Allowed Unsecured Claims not entitled to priority under
the Code. Each holder of an Allowed Claim in Class 5 will be paid
its Pro Rata share from the Claims Distribution Fund within 60 days
after the of the Effective Date.

Class 1 Douglas County Nebraska Treasurer are impaired. The holder
of the Allowed Class 1 Claim shall receive, on account of such
Claim, equal quarterly cash payments over a period commencing on
the Effective Date and ending on the fifth (5th) anniversary of the
Petition Date.

Class 2 First Westroads Bank are impaired. FWB filed an amended
proof of Claim in the Bankruptcy Case in the amount of $493,016.72.
The Secured Claim of FWB is secured by a first position,
prepetition deed of trust filed against Debtor's Real Property, and
the fixtures thereon. The Secured Claim of FWB shall be Allowed and
treated as follows: Amount, Security, Payments and Term, FWB Loan
Documents, Early Repayment, Reporting, Default.

Class 3 Gloria Ann Murante Intervivos Revocable Trust are impaired.
The Trust filed a proof of Claim in the Bankruptcy Case in the
amount of $156,249.041 The Secured Claim of the Trust is secured by
a second position, prepetition judgment lien on Debtor’s real
property assets in Douglas County Nebraska. The Secured Claim of
the Trust shall be allowed and treated as follows: Amount,
Security, Payments and Term.

Class 4 Guaranty Solutions, LLC are impaired. GS filed a Proof of
Claim in the Bankruptcy Case in the amount of $2,876,808.70. The
Secured Claim of GS shall be allowed and treated as follows:
Amount, Security, Payments and Term, Early Repayment, Default.

Class 6 Equity Holders are impaired. In exchange for payments and
contributions described herein, the Trust shall be entitled to
retain its Interests in the Debtor. All other Interests shall be
canceled.

All of Debtor's Property will continue to be owned by the
Reorganized Debtor. The membership interests in the Debtor shall
continue to be owned by the Trust. The Debtor will continue to own
and operate the business and use the funds generated from the
business and the Capital Infusion to pay Debtor's creditors
pursuant to the terms of this Plan.

A full-text copy of the Amended Disclosure Statement dated
September 13, 2019, is available at https://tinyurl.com/yyghuo85
from PacerMonitor.com at no charge.

Counsel for Debtor:

     Patrick R. Turner, Esq.
     15221 Spencer Street
     Omaha, NE 68116
     Tel: 402-690-3675
     Email: patrickrturner@outlook.com

                 About Property Ventures

Based in Omaha, Nebraska, Property Ventures, LLC, has been in the
business support services industry since 2004.

Property Ventures sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Neb. Case No. 17-81762) on Dec. 13,
2017.  At the time of the filing, the Debtor estimated assets and
liabilities of $1 million to $10 million.  Judge Thomas L. Saladino
presides over the case.  Patrick R. Turner, Esq., at Stinson
Leonard Street, LLP, serves as the Debtor's bankruptcy counsel.


PURDUE PHARMA: Intends to Pay $34MM in Incentives to Employees
--------------------------------------------------------------
Troubled drugmaker Purdue Pharma has asked the bankruptcy court for
approval to pay $34 million in bonuses to certain employees for
meeting and exceeding goals over the last three years, even as the
company is facing thousands of lawsuits over its role in the opioid
crisis.

The request to pay the bonuses were included in the customary
motion to pay wages and benefits to employees that Chapter 11
debtors usually file at the commencement of their cases.

Purdue explains that as a part of their overall employee
compensation plan, the Debtors maintain a long-standing annual
incentive program (the "Purdue AIP") for certain of their
employees, which has been in place substantially in its current
form for over thirty years.

The Purdue AIP designates payments on an annual basis to eligible
employees based on a combination of Employee performance and the
performance of the Company, as compared with the target performance
goals set for the Employee and Company, as approved by the board of
directors of Purdue Pharma Inc.  The Rhodes Debtors also maintain a
similar AIP.

The total targeted payout under the Debtors' AIPs related to
calendar year 2019, which is scheduled to be paid in late February
or early March 2020 (or December 2019 for non-exempt Employees of
the Rhodes Debtors), is $26,490,000 and the actual payout related
to calendar year 2018, which was paid in late February or early
March 2019 (or December 2018 for non-exempt Employees of the Rhodes
Debtors), was $33,290,000.

The Debtors' AIPs are not retention plans.  The Debtors' AIPs have
not been altered or amended in any way in connection with the
chapter 11 cases, and have been consistently used to drive Employee
performance and productivity.

The Debtors seek authority to continue to honor their obligations
under the Incentive Plans in the ordinary course.

                         Sign-On Bonuses

Aside from the Incentive Plans, the Debtors said that they intend
to pay sign-on bonuses totaling $2,275,000 to 14 employees.  The
Debtors said they historically have provided cash sign-on bonuses
to certain newly-hired Employees in the ordinary course of
business, to induce them to accept an offer of employment with the
Debtors.

                 Non-Executive Retention Plan

Moreover, given the Debtors' current and recent circumstances, the
Debtors implemented retention plans for certain executive and
non-executive Employees in both 2018 and 2019, which were carefully
calibrated to ensure that key Employees are incentivized to remain
employed with the Debtors through the end of 2020, which was deemed
a critical period for the Debtors.

The current non-executive retention plan includes approximately 120
non-insider employees.  From 2018 to date, the company experienced
over 25% attrition among the top tier of Employees participating in
the Non-Executive Retention Plan (consisting of certain key
employees and managers with titles junior to Senior Vice
President).  The Debtors believe that the attrition rate would have
been even higher if the Debtors had not established the
Non-Executive Retention Plan.

As of the Petition Date, the Debtors believe that no obligations
are currently due under the Non-Executive Retention Plan. The
Debtors estimate that they will pay approximately $1.0 million with
respect to Employees of the Purdue Debtors and $0.9 million with
respect to Employees of the Rhodes Debtors in the remainder of 2019
and approximately $6.7 million with respect to Employees of the
Purdue Debtors and $1.7 million with respect to Employees of the
Rhodes Debtors in 2020.

                      Interim Order Entered

Judge Robert Drain on Sept. 18, 2019, entered an order granting
interim approval of the Debtors' motion to pay wages and benefits.

The judge, however, will consider approval to pay the bonuses at
the final hearing on the motion.

"Notwithstanding anything to the contrary in this Interim Order,
the Debtors shall not (a) make any Sign-On Bonus payments either
before such Sign-On Bonus payments are due or in an amount in
excess of $100,000 in the aggregate, (b) pay any amounts on account
of Incentive Plan Obligations, (c) pay any amounts on account of
Severance Obligations to former employees or (d) make any Treyburn
Retention Payments, in each case prior to the approval of such
payments in the Final Order or by separate order of the Court,"
according to the Interim Order.

The final hearing will be held on Oct. 10, 2019, at 10:00 a.m.
(Prevailing Eastern Time).  Any objections or responses are due
seven days before the final hearing.

According to the Washington Post, at a bankruptcy court hearing in
White Plains, N.Y., on Sept. 17, 2019, Paul K. Schwartzberg, an
attorney for the U.S. Trustee, raised objections to some of the
bonuses.  While it is typical for companies in bankruptcy to try to
pay employees as a firm seeks to regain its financial footing, the
Purdue Pharma bonuses go "way beyond" what is typical, he said.

"That $34 million is owed to the victims of the opioid epidemic,
and every last cent should be spent on addiction science, treatment
and recovery," Connecticut Attorney General William Tong said in a
statement to The Washington Post.  "Purdue and the Sacklers still
don't seem to comprehend the pain and suffering they have caused.
While I am sympathetic to the workers at Purdue, many of whom live
in my hometown and state and had nothing to do with the egregious
actions of their employer, this not business as usual."

                      About Purdue Pharma

Purdue Pharma L.P. and its subsidiaries --
http://www.purduepharma.com/-- develop and provide prescription
medicines and consumer products that meet the evolving needs of
healthcare professionals, patients, consumers and caregivers.

Purdue's subsidiaries include Adlon Therapeutics L.P., focused on
treatment for Attention-Deficit/Hyperactivity Disorder (ADHD) and
related disorders; Avrio Health L.P., a consumer health products
company that champions an improved quality of life for people in
the United States through the reimagining of innovative product
solutions; Imbrium Therapeutics L.P., established to further
advance the emerging portfolio and develop the pipeline in the
areas of CNS, non-opioid pain medicines, and select oncology
through internal research, strategic collaborations and
partnerships; and Greenfield Bioventures L.P., an investment
vehicle focused on value-inflection in early stages of clinical
development.

Opioid makers in the U.S. are facing pressure from a crackdown on
the addictive drug in the wake of the opioid crisis and as state
attorneys general file lawsuits against manufacturers.  More than
2,000 states, counties, municipalities and Native American
governments have sued Purdue Pharma and other pharmaceutical
companies for their role in the opioid crisis in the U.S., which
has contributed to the more than 700,000 drug overdose deaths in
the U.S. since 1999.

OxyContin, Purdue Pharma's most prominent pain medication, has been
the target of over 2,600 civil actions pending in various state and
federal courts and other fora across the United States and its
territories.

On Sept. 15 and 16, 2019, Purdue Pharma L.P. and 23 affiliated
debtors each filed a voluntary petition for relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No.
19-23649), after reaching terms of a preliminary agreement for
settling the massive opioid litigation facing the Company.

The Company's consolidated balance sheet at Aug. 31, 2019, showed
$1.972 billion in assets and $562 million in liabilities.

U.S. Bankruptcy Judge Robert Drain, in White Plains, New York, has
been assigned to oversee Purdue's Chapter 11 case.

Davis Polk & Wardwell LLP and Dechert LLP are serving as legal
counsel to Purdue. PJT Partners is serving as investment banker,
and AlixPartners is serving as financial advisor.  Prime Clerk LLC
is the claims agent.


PURDUE PHARMA: Stevens & Lee, Morgan Represent Class Claimants
--------------------------------------------------------------
In the Chapter 11 cases of Purdue Pharma L.P., et al., the law
firms of Stevens & Lee, P.C. and Morgan & Morgan, P.A., submitted a
verified statement under Rule 2019 of the Federal Rules of
Bankruptcy Procedure to disclose that they are representing the
Class Claimants.

S&L and its Cocounsel represent the following persons in their
respective individual and putative capacities as proposed
representatives of classes of privately insured parties who are
plaintiffs and proposed class representatives in their individual
and representative capacities in suits brought against
Debtor-Defendant Purdue Pharma Inc. and other affiliated and
non-affiliated defendants, as set forth below in their 25
respective actions in the 25 states identified below (the "Class
Actions"), all of which have been and remain stayed in connection
with In re National Prescription Opiate Litigation, No.
1:17-md-2804 (N.D. Ohio) (the "MDL"):

   * Ronald D. Stracener, F. Kirk Hopkins, Jordan Chu, Amel Eiland,
Nadja Streiter, Michael Konig, Eli Medina, Barbara Rivers,
Marketing Services of Indiana, Inc., Glenn Golden, Gretta Golden,
Michael Christy, Edward Grace, Debra Dawsey, Darcy Sherman,
Kimberly Brand, Lou Sardella, Michael Klodzinski, Kevin Wilk,
Heather Enders, Jason Reynolds, MSI Corporation, Deborah
Green-Kuchta, W. Andrew Fox, Dora Lawrence, Michael Lopez, and
Zachary R. Schneider.

   * Plaintiff Ronald D. Stracener seeks to hold Purdue accountable
for the economic harm it has imposed on Alabama purchasers of
private health insurance, in the action Stracener v. Purdue Pharma,
L.P., et. al., No. 19-cv-86 (S.D. Ala.).

   * Plaintiff F. Kirk Hopkins seeks to hold Purdue accountable for
the economic harm it has imposed on Arizona purchasers of private
health insurance, in the action Hopkins v. Purdue Pharma, L.P., et.
al., No. 18-cv-2646 (D. Ariz).

   * Plaintiff Jordan Chu seeks to hold Purdue accountable for the
economic harm it has imposed on California purchasers of private
health insurance, in the action Chu v. Purdue Pharma, L.P., et.
al., No. 18-cv-2576 (N.D. Cal.).

   * Plaintiff Amel Eiland seeks to hold Purdue accountable for the
economic harm it has imposed on Colorado purchasers of private
health insurance, in the action Eiland v. Purdue Pharma, L.P., et.
al., No. 18-cv-46283 (D. Colo.).

   * Plaintiff Nadja Streiter seeks to hold Purdue accountable for
the economic harm it has imposed on Connecticut purchasers of
private health insurance, in the action Streiter v. Purdue Pharma,
L.P., et. al., No. 18-cv-1425 (D. Conn.).

   * Plaintiff Michael Konig seeks to hold Purdue accountable for
the economic harm it has imposed on Florida purchasers of private
health insurance, in the action Konig v. Purdue Pharma, L.P., et.
al., No. 18-cv-61960 (S.D. Fla.).

   * Plaintiff Eli Medina seeks to hold Purdue accountable for the
economic harm it has imposed on Idaho purchasers of private health
insurance, in the action Medina v. Purdue Pharma, L.P., et. al.,
No. 18-cv-369 (D. Idaho).

   * Plaintiff Barbara Rivers seeks to hold Purdue accountable for
the economic harm it has imposed on Illinois purchasers of private
health insurance, in the action Rivers v. Purdue Pharma, L.P., et.
al., No. 18-cv-3116 (N.D. Ill.).

   * Plaintiff Marketing Services of Indiana, Inc. seeks to hold
Purdue accountable for the economic harm it has imposed on Indiana
purchasers of private health insurance, in the action Marketing
Services of Indiana, Inc. v. Purdue Pharma, L.P., et. al., No.
18-cv-2778 (S.D. Ind.).

   * Plaintiffs Glenn Golden, Gretta Golden and Michael Christy
seek to hold Purdue accountable for the economic harm it has
imposed on Louisiana purchasers of private health insurance, in the
action Golden et. al. v. Purdue Pharma, L.P., et. al., No.
19-cv-1048 (E.D. La.).

   * Plaintiff Edward Grace seeks to hold Purdue accountable for
the economic harm it has imposed on Massachusetts purchasers of
private health insurance, in the action Grace v. Purdue Pharma,
L.P., et. al., No. 18-cv-10857 (D. Mass.).

   * Plaintiff Deborah Dawsey seeks to hold Purdue accountable for
the economic harm it has imposed on Michigan purchasers of private
health insurance, in the action Dawsey v. Purdue Pharma, L.P., et.
al., No. 19-cv-94 (W.D. Mich.).

   * Plaintiff Darcy Sherman seeks to hold Purdue accountable for
the economic harm it has imposed on Minnesota purchasers of private
health insurance, in the action Sherman v. Purdue Pharma, L.P., et.
al., No. 18-cv-3335 (D. Minn.).

   * Plaintiff Kimberly Brand seeks to hold Purdue accountable for
the economic harm it has imposed on Missouri purchasers of private
health insurance, in the action Brand v. Purdue Pharma, L.P., et.
al., No. 18-cv-653 (W.D. Mo.).

   * Plaintiff Lou Sardella seeks to hold Purdue accountable for
the economic harm it has imposed on New Jersey purchasers of
private health insurance, in the action Sardella v. Purdue Pharma,
L.P., et. al., No. 18-cv-8706 (D.N.J.).

   * Plaintiff Michael Klodzinski seeks to hold Purdue accountable
for the economic harm it has imposed on New York purchasers of
private health insurance, in the action Klodzinski v. Purdue
Pharma, L.P., et. al., No. 18-cv-3927 (S.D.N.Y.).

   * Plaintiff Kevin Wilk seeks to hold Purdue accountable for the
economic harm it has imposed on North Carolina purchasers of
private health insurance, in the action Wilk v. Purdue Pharma,
L.P., et. al., No. 18-cv-181 (E.D.N.C.).

   * Plaintiff Heather Enders seeks to hold Purdue accountable for
the economic harm it has imposed on Ohio purchasers of private
health insurance, in the action Enders v. Purdue Pharma, L.P., et.
al., No. 19-cv-448 (S.D. Ohio).

   * Plaintiff Jason Reynolds seeks to hold Purdue accountable for
the economic harm it has imposed on Oregon purchasers of private
health insurance, in the action Reynolds v. Purdue Pharma, L.P.,
et. al., No. 18-cv-1911 (D. Or.).

   * Plaintiff MSI Corporation seeks to hold Purdue accountable for
the economic harm it has imposed on Pennsylvania purchasers of
private health insurance, in the action MSI Corp. v. Purdue Pharma,
L.P., et. al., No. 18-cv-1109 (W.D. Pa.).

   * Plaintiff Deborah Green-Kuchta seeks to hold Purdue
accountable for the economic harm it has imposed on South Dakota
purchasers of private health insurance, in the action Green- Kuchta
v. Purdue Pharma, L.P., et. al., No. 18-cv-4132 (D.S.D.).

   * Plaintiff W. Andrew Fox seeks to hold Purdue accountable for
the economic harm it has imposed on Tennessee purchasers of private
health insurance, in the action Fox v. Purdue Pharma, L.P., et.
al., No. 18-cv-194 (E.D. Tenn.).

   * Plaintiff Dora Lawrence seeks to hold Purdue accountable for
the economic harm it has imposed on Texas purchasers of private
health insurance, in the action Lawrence v. Purdue Pharma, L.P.,
et. al., No. 18-cv-2889 (S.D. Tex.).

   * Plaintiff Michael Lopez seeks to hold Purdue accountable for
the economic harm it
has imposed on Utah purchasers of private health insurance, in the
action Lopez v. Purdue Pharma, L.P., et. al., No. 18-cv-719 (D.
Utah).

   * Plaintiff Zachary R. Schneider seeks to hold Purdue
accountable for the economic harm it has imposed on Wisconsin
purchasers of private health insurance, in the action Schneider v.
Purdue Pharma, L.P., et. al., No. 19-cv-611 (E.D. Wis.).

As of September 16, 2019, Morgan & Morgan has filed the following
action:

Martin v. Purdue Therapeutics, Inc., CV 2018-013354 (Maricopa
County).

Morgan & Morgan has filed actions against either or both Purdue
Pharma, Inc. and Purdue Therapeutics, Inc. on behalf of the
following:

-- Oklahoma

    The County Commission of Mayes County
    The County Commission of Rogers County
    The County Commission of Nowata County
    The County Commission of Creek County
    The County Commission of Washington County
    The County Commission of Okmulgee County

-- Kansas:

    The County Commission of Crawford County
    The County Commission of Neosho County

-- West Virginia:

    Town of Kermit
    City of Welch
    Town of West Hamlin
    McDowell County
    Clay County
    Lincoln County
    Mercer County
    Town of Chapmanville
    Mingo County
    Town of Chapmanville
    Town of Hamlin
    City of Williamson
    Town of Gilbert

-- Missouri:

    City of Springfield

-- Florida:

    City of Deerfield Beach
    City of Hallandale Beach
    City of Pembroke Pines
    City of Miramar
    City of Lauderhill
    City of Ft. Lauderdale
    Monroe County

None of these plaintiffs has any "disclosable economic interest"
other than as disclosed in the preceding paragraphs.

Other than as disclosed herein, S&L does not currently represent or
claim to represent any other entity with respect to the Debtors'
cases, and does not hold any claim against or interest in the
Debtors or their estates.

Counsel for Attorneys for Ronald D. Stracener, F. Kirk Hopkins,
Jordan Chu, Amel Eiland, Nadja Streiter, Michael Konig, Eli Medina,
Barbara Rivers, Marketing Services of Indiana, Inc., Glenn Golden,
Gretta Golden, Michael Christy, Edward Grace, Debra Dawsey, Darcy
Sherman, Kimberly Brand, Lou Sardella, Michael Klodzinski, Kevin
Wilk, Heather Enders, Jason Reynolds, MSI Corporation, Deborah
Green-Kuchta, W. Andrew Fox, Dora Lawrence, Michael Lopez, Zachary
R. Schneider, and the Putative Classes can be reached at:

          Stevens & Lee, P.C.
          Nicholas F. Kajon, Esq.
          Constantine D. Pourakis, Esq.
          485 Madison Avenue, 20th Floor
          New York, NY 10022
          Telephone: (212) 319-8500
          Facsimile: (212) 319-8505
          E-mail: nfk@stevenslee.com
                  cp@stevenslee.com

          Morgan & Morgan, P.A.
          James Young, Esq.
          Complex Litigation Group
          76 S. Laura St., Suite 1100
          Jacksonville, FL 32202
          Telephone: (904) 361-0012
          E-mail: jyoung@ForThePeople.com

             - and -

          Morgan & Morgan, P.A.
          Juan R. Martinez, Esq.
          Complex Litigation Group
          201 N. Franklin Street, 7th Floor
          Tampa, FL 33602
          Telephone: (813) 223-5505
          E-mail: juanmartinez@ForThePeople.com

A copy of the Rule 2019 filing, downloaded from PacerMonitor.com,
is available at https://is.gd/Z6OEfN

                      About Purdue Pharma

Purdue Pharma L.P. and its subsidiaries --
http://www.purduepharma.com/-- develop and provide prescription
medicines and consumer products that meet the evolving needs of
healthcare professionals, patients, consumers and caregivers.

Purdue's subsidiaries include Adlon Therapeutics L.P., focused on
treatment for Attention-Deficit/Hyperactivity Disorder (ADHD) and
related disorders; Avrio Health L.P., a consumer health products
company that champions an improved quality of life for people in
the United States through the reimagining of innovative product
solutions; Imbrium Therapeutics L.P., established to further
advance the emerging portfolio and develop the pipeline in the
areas of CNS, non-opioid pain medicines, and select oncology
through internal research, strategic collaborations and
partnerships; and Greenfield Bioventures L.P., an investment
vehicle focused on value-inflection in early stages of clinical
development.

Opioid makers in the U.S. are facing pressure from a crackdown on
the addictive drug in the wake of the opioid crisis and as state
attorneys general file lawsuits against manufacturers.  More than
2,000 states, counties, municipalities and Native American
governments have sued Purdue Pharma and other pharmaceutical
companies for their role in the opioid crisis in the U.S., which
has contributed to the more than 700,000 drug overdose deaths in
the U.S. since 1999.

OxyContin, Purdue Pharma's most prominent pain medication, has been
the target of over 2,600 civil actions pending in various state and
federal courts and other fora across the United States and its
territories.

On Sept. 15 and 16, 2019, Purdue Pharma L.P. and 23 affiliated
debtors each filed a voluntary petition for relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No.
19-23649), after reaching terms of a preliminary agreement for
settling the massive opioid litigation facing the Company.

The Company's consolidated balance sheet at Aug. 31, 2019, showed
$1.972 billion in assets and $562 million in liabilities.

U.S. Bankruptcy Judge Robert Drain, in White Plains, New York, has
been assigned to oversee Purdue's Chapter 11 case.

Davis Polk & Wardwell LLP and Dechert LLP are serving as legal
counsel to Purdue. PJT Partners is serving as investment banker,
and AlixPartners is serving as financial advisor.  Prime Clerk LLC
is the claims agent.


PWR INVEST: Seeks to Hire Barnes & Thornburg as Co-Counsel
----------------------------------------------------------
PWR Invest, LP, seeks approval from the U.S. Bankruptcy Court for
the District of Delaware to hire Barnes & Thornburg LLP.

Barnes & Thornburg will serve as co-counsel with Pronske & Kathman
P.C., the other firm tapped by PWR Invest to represent the company
and its affiliates in their Chapter 11 cases.

The firm's hourly rates are:

     Partners            $410 - $665
     Associates          $300 - $385
     Paraprofessionals   $150 - $220

Barnes & Thornburg was paid $100,000 as a retainer.

Barnes & Thornburg is "disinterested" within the meaning of Section
101(14) of the Bankruptcy Code, according to court filings.

The firm can be reached through:

     Kevin G. Collins, Esq.
     Barnes & Thornburg LLP
     1000 N. West Street, Suite 1500
     Wilmington, DE 19801
     Tel: 302-300-3455
     Fax: 302-300-3456
     Email: kevin.collins@btlaw.com

                        About PWR Invest

PWR Invest, LP, and debtor affiliates Oklahoma Merge, LP; Oklahoma
Merge Midstream, LP;  Oklahoma River Basin, LP; and PWR Oil & Gas
General Partners, Inc., operate and develop oil and gas properties
predominantly in Oklahoma.   

On May 22, 2019, PWR Oil & Gas General Partners, Inc., filed a
Chapter 11 petition (Bankr. D. Del.).  On May 23, 2019, PWR Invest,
LP, also sought for Chapter 11 protection.  On Aug. 12, 2019,
Oklahoma Merge, LP, Oklahoma River Basin, LP, and Oklahoma Merge
Midstream, LP, each filed Chapter 11 petitions.  The Debtors'
Chapter 11 cases are jointly administered under Case No. 19-11164,
with that of PWR Invest, LP, as the lead case.

As of its Petition Date, PWR Invest estimated assets at $50 million
to $100 million, and liabilities at $50 million to $100 million.

PRONSKE & KATHMAN, P.C., and BARNES & THORNBURG LLP serve as the
Debtors' counsel.  FTI Consulting, Inc., is the Debtors' financial
advisor.


PWR INVEST: Seeks to Hire FTI Consulting as Financial Advisor
-------------------------------------------------------------
PWR Invest, LP seeks approval from the U.S. Bankruptcy Court for
the District of Delaware to hire FTI Consulting, Inc. as its
financial advisor.

The firm will provide these services to the company and its
affiliates in connection with their Chapter 11 cases:

     Financial Advisory Services

     (1) render general financial advice, financial analytics and
financial modeling in support of negotiations with creditors;

     (2) assist in the development and analysis of various
strategic alternatives available to the Debtors;

     (3) assist in determining potential creditor recoveries under
alternative scenarios;

     (4) assist in evaluating the Debtors' cash flows under a
variety of scenarios;

     (5) attend meetings, presentations and negotiations; and

     (6) assist with treasury operations, cash management, cash
forecasting, and management of receivables and payables.

     Contingency Planning

     (1) assist in securing debtor-in-possession financing;

     (2) assist in developing accounting and operating procedures
to segregate pre-bankruptcy and post-petition business
transactions;

     (3) assist in the development of a creditor matrix;

     (4) work with the Debtors and their communications advisors;

     (5) assist in developing a process and infrastructure to
respond to and track calls received from suppliers, employees and
other constituents;

     (6) assist in the identification of executory contracts and
unexpired leases and perform cost/benefit evaluations;

     (7) prepare the Debtors with respect to financial disclosure
that will be required by the court; and

     (8) assist in the review, classification and quantification of
claims against the Debtors' estates under a plan of reorganization.


FTI's hourly rates are:

     Senior Managing Directors           $875 - $1,195
     Directors                           $670 - $880  
     Senior Directors                    $670 - $880
     Managing Directors                  $670 - $880  
     Consultants/Senior Consultants      $355 - $640   
     Administrative/Paraprofessionals    $145 - $275

The Debtors provided FTI with a retainer in the amount of $150,000
prior to their bankruptcy filing.
  
FTI is "disinterested" within the meaning of Section 101(14) of the
Bankruptcy Code, according to court filings.

The firm can be reached through:

     Clark Ansel
     FTI Consulting, Inc.
     2001 Ross Avenue, Suite 650
     Dallas TX 75201
     Tel: +1 214 397 1671
     Fax: +1 214 397 1790
     Email: clark.ansel@fticonsulting.com

                        About PWR Invest

PWR Invest, LP, and debtor affiliates Oklahoma Merge, LP; Oklahoma
Merge Midstream, LP;  Oklahoma River Basin, LP; and PWR Oil & Gas
General Partners, Inc., operate and develop oil and gas properties
predominantly in Oklahoma.   

On May 22, 2019, PWR Oil & Gas General Partners, Inc., filed a
Chapter 11 petition (Bankr. D. Del.).  On May 23, 2019, PWR Invest,
LP, also sought for Chapter 11 protection.  On Aug. 12, 2019,
Oklahoma Merge, LP, Oklahoma River Basin, LP, and Oklahoma Merge
Midstream, LP, each filed Chapter 11 petitions.  The Debtors'
Chapter 11 cases are jointly administered under Case No. 19-11164,
with that of PWR Invest, LP, as the lead case.

As of its Petition Date, PWR Invest estimated assets at $50 million
to $100 million, and liabilities at $50 million to $100 million.

PRONSKE & KATHMAN, P.C., and BARNES & THORNBURG LLP serve as the
Debtors' counsel.  FTI Consulting, Inc., is the Debtors' financial
advisor.


PWR INVEST: Taps Pronske & Kathman as Legal Counsel
---------------------------------------------------
PWR Invest, LP seeks approval from the U.S. Bankruptcy Court for
the District of Delaware to hire Pronske & Kathman P.C. as its
legal counsel.

The firm will provide services to PWR Invest and its affiliates in
connection with their Chapter 11 cases, which include legal advice
regarding their powers and duties under the Bankruptcy Code;
negotiations with creditors; assistance with respect to the
potential sale of their assets; and the preparation of a bankruptcy
plan.

The firm's hourly rates are:

     Partners            $400 - $800
     Associates          $250 - $400
     Paraprofessionals   $100 - $200

The Debtors paid $200,000 to Pronske & Kathman as a retainer.    
Pronske & Kathman is "disinterested" within the meaning of Section
101(14) of the Bankruptcy Code, according to court filings.

The firm can be reached through:

     Gerrit M. Pronske, Esq.
     Pronske & Kathman P.C.
     2701 Dallas Parkway, Suite 590
     Plano, TX 75093
     Direct: 214.658.6501
     Main: 214.658.6500
     Fax: 214.658.6509
     Email: gpronske@pronskepc.com

                        About PWR Invest

PWR Invest, LP, and debtor affiliates Oklahoma Merge, LP; Oklahoma
Merge Midstream, LP;  Oklahoma River Basin, LP; and PWR Oil & Gas
General Partners, Inc., operate and develop oil and gas properties
predominantly in Oklahoma.   

On May 22, 2019, PWR Oil & Gas General Partners, Inc., filed a
Chapter 11 petition (Bankr. D. Del.).  On May 23, 2019, PWR Invest,
LP, also sought for Chapter 11 protection.  On Aug. 12, 2019,
Oklahoma Merge, LP, Oklahoma River Basin, LP, and Oklahoma Merge
Midstream, LP, each filed Chapter 11 petitions.  The Debtors'
Chapter 11 cases are jointly administered under Case No. 19-11164,
with that of PWR Invest, LP, as the lead case.

As of its Petition Date, PWR Invest estimated assets at $50 million
to $100 million, and liabilities at $50 million to $100 million.

PRONSKE & KATHMAN, P.C., and BARNES & THORNBURG LLP serve as the
Debtors' counsel.  FTI Consulting, Inc., is the Debtors' financial
advisor.


RAIT FUNDING: Ashby, Brown Rudnick Represent Equity Holders
-----------------------------------------------------------
In the Chapter 11 cases of RAIT Funding, LLC, et al., the law firms
of Ashby & Geddes, P.A. and Brown Rudnick LLP submitted a verified
statement under Rule 2019 of the Federal Rules of Bankruptcy
Procedure to disclose that they are representing the Ad Hoc
Committee of Holders of Preferred and Common Equity issued by RAIT
Financial Trust.

On Aug. 30, 2019, the Debtors commenced with the Court voluntary
cases under chapter 11 of the Bankruptcy Code. Since the Petition
Date, the Debtors continue to operate and manage their businesses
as debtors-in-possession.

As of Sept. 10, 2019, members of the Ad Hoc Committee and their
disclosable economic interests are:

(1) Howard Amster
     44 Cocoanut Row, B323
     Palm Beach, FL 33480

     * Series A Preferred: 6,450
     * Series B Preferred: 20,025
     * Series C Preferred: 1,591

(2) Howard Amster IRA
     44 Cocoanut Row, B323
     Palm Beach, FL 33480

     * Series A Preferred: 266,140
     * Series B Preferred: 112,355
     * Series C Preferred: 59,007

(3) Amster Limited Partnership
     44 Cocoanut Row, B323
     Palm Beach, FL 33480

     * Series A Preferred: 18,400
     * Series B Preferred: 33,677
     * Series C Preferred: 1,300

(4) Horizon Group Properties
     44 Cocoanut Row, B323
     Palm Beach, FL 33480

     * Series B Preferred: 2,400

(5) Laughlin Holdings LLC
     44 Cocoanut Row, B323
     Palm Beach, FL 33480

     * Series A Preferred: 42,400
     * Series C Preferred: 15,031

(6) newAx Inc.
     44 Cocoanut Row, B323
     Palm Beach, FL 33480

     * Series A Preferred: 1,100

(7) Pleasant Lake Apts Corp
     44 Cocoanut Row, B323
     Palm Beach, FL 33480

     * Series B Preferred: 3,400

(8) Pleasant Lake Apts. Ltd Partnership
     44 Cocoanut Row, B323
     Palm Beach, FL 33480

     * Series A Preferred: 86,928
     * Series B Preferred: 152,799
     * Series C Preferred: 120,773

(9) Pleasant Lake – Skoien Investments LLC
     44 Cocoanut Row, B323
     Palm Beach, FL 33480

     * Series B Preferred: 4,974
     * Series C Preferred: 6,300

(10) Ramat Securities Ltd
     44 Cocoanut Row, B323
     Palm Beach, FL 33480

     * Series A Preferred: 65,700
     * Series B Preferred: 43,959
     * Series C Preferred: 14,405

(11) Somerset Outlet Centers L.P.
     44 Cocoanut Row, B323
     Palm Beach, FL 33480

     * Series A Preferred: 39,300
     * Series C Preferred: 16,100

(12) Broadbill Partners II, LP
     157 Columbus Ave., 5th Floor
     New York, NY 10023

     * Series A Preferred: 173,090
     * Series B Preferred: 99,235
     * Series C Preferred: 34,870

(13) Black Rhino, LP
     157 Columbus Ave., 5th Floor
     New York, NY 10023

     * Series A Preferred: 21,201
     * Series B Preferred: 13,750
     * Series C Preferred – 4,044

(14) JKJ Special Situations Fund, LP
     157 Columbus Ave., 5th Floor
     New York, NY 10023

     * Series A Preferred: 38,530
     * Series B Preferred: 24,313
     * Series C Preferred: 17,332

(15) Mark Schneiderman
     250 W. 57th Street, Suite 1820
     New York, NY 10107

     * Series B Preferred: 4,000

(16) TCG Holdings I LLC
     c/o Triangle Capital Group LLC
     452 Fifth Avenue, 30th Floor
     New York, NY 10018

     * Series A Preferred: 190,080
     * Series B Preferred: 82,157
     * Series C Preferred: 32,552

(17) Technical Management Group, Inc.
     3106 Edgewood Drive SE
     Jefferson, OR 97352

     * Series A Preferred: 51,480
     * Series B Preferred: 24,773
     * Series C Preferred: 41,876

(18) Albert Polanco
     4311 NE Joes Point Rd.
     Stuart, Florida 34996

     * Series B Preferred: 750

(19) Riva Ridge Master Fund, Ltd.
     55 5th Avenue, Suite 1808
     New York, NY 10003

     * 38,000 Preferred Shares

Counsel to the Ad Hoc Committee of Holders of Preferred and Common
Equity issued by RAIT Financial Trust can be reached at:

          ASHBY & GEDDES, P.A.
          William P. Bowden, Esq.
          500 Delaware Avenue, 8th Floor
          P.O. Box 1150
          Wilmington, DE 19899-1150
          Tel.:(302) 654-1888
          Fax: (302) 654-2067
          E-mail: wbowden@ashbygeddes.com

              - and -

          BROWN RUDNICK LLP
          Robert J. Stark, Esq.
          Bennett S. Silverberg, Esq.
          Max D. Schlan, Esq.
          Seven Times Square
          New York, NY 10036
          Tel.:(212) 209-4800
          Fax: (212) 209-4801
          E-mail: rstark@brownrudnick.com
                  bsilverberg@brownrudnick.com
                  mschlan@brownrudnick.com

A copy of the Rule 2019 filing, downloaded from PacerMonitor.com,
is available at https://is.gd/5Q2dKi

                      About RAIT Funding

RAIT -- https://www.rait.com/ -- is an internally-managed real
estate investment trust focused on managing a portfolio of
commercial real estate loans and properties.

RAIT Funding, LLC and its affiliates, including RAIT Financial
Trust, sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. D. Del. Lead Case No. 19-11915) on Aug. 30, 2019.  At the
time of the filing, the Debtors were estimated to have assets of
between $100 million and $500 million, and liabilities of the same
range.  

The cases are assigned to Judge Brendan Linehan Shannon.

The Debtors tapped Drinker Biddle & Reath LLP as bankruptcy
counsel; UBS Securities LLC as investment banker; M-III Partners
L.P. as restructuring and financial advisor; Ledgewood PC as tax
counsel; and Epiq Corporate Restructuring, LLC as claims and
noticing agent.



RAIT FUNDING: U.S. Trustee Forms 5-Member Committee
---------------------------------------------------
Andrew Vara, acting U.S. trustee for Region 3, on Sept. 17
appointed five creditors to serve on the official committee of
unsecured creditors in the Chapter 11 cases of RAIT Funding, LLC
and its affiliates.

The committee members are:

     (1) Wells Fargo, NA
         600 S. 4th Street
         Minneapolis, MN 55479
         Tel: 612-316-0857   

     (2) The Bank of New York Mellon Trust Company, NA
         601 Travis Street, 16th Floor
         Houston, TX 77002
         Tel: 212-815-2816
  
     (3) UMB Bank, NA
         120 S. 6th Street, Suite 1400
         Minneapolis, MN 55402l

     (4) Matthew A. Page
         139 Augustine Cutoff
         Wilmington, DE 19803
         Tel: 302-3730333

     (5) Rangeley Capital Partners, LP
         3 Forest Street
         New Canaan, CT 06840
         Tel: 504615-1762  
  
Official creditors' committees serve as fiduciaries to the general
population of creditors they represent.  They may investigate the
debtor's business and financial affairs. Committees have the right
to employ legal counsel, accountants and financial advisors at a
debtor's expense.

                        About RAIT Funding

RAIT Funding, LLC and its affiliates, including RAIT Financial
Trust, sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. D. Del. Lead Case No. 19-11915) on Aug. 30, 2019.  RAIT --
https://www.rait.com/ -- is an internally-managed real estate
investment trust focused on managing a portfolio of commercial real
estate loans and properties.

At the time of the filing, the Debtors disclosed assets of between
$100 million and $500 million and liabilities of the same range.

The cases are assigned to Judge Brendan Linehan Shannon.

The Debtors tapped Drinker Biddle & Reath LLP as bankruptcy
counsel; UBS Securities LLC as investment banker; M-III Partners
L.P. as restructuring and financial advisor; Ledgewood PC as tax
counsel; and Epiq Corporate Restructuring, LLC as claims and
noticing agent.


REGAL ROW FINA: Seeks Cash Access, Intends to Sell Assets
---------------------------------------------------------
Regal Row Fina, Inc., asks the U.S. Bankruptcy Court for the
Northern District of Texas for interim authority to use the cash
collateral of Wallis State Bank and Internal Revenue Service in
order to continue on-going business operations.  

The Debtor discloses that it intends to sell the business and real
property, but that it needs to preserve, in the meantime, the value
of its business.

The budget provides for $39,401 in total monthly expenses, a copy
of which is available for free at
http://bankrupt.com/misc/Regal_Row_6(2)_Cash_Budget.pdf

                     About Regal Row Fina

Regal Row Fina, Inc., sought Chapter 11 protection (Bankr. N.D.
Tex. Case No. 19-33060) in Dallas, Texas, on Sept. 11, 2019.  Joyce
W. Lindauer Attorney, PLLC, is the Debtor's counsel.  No trustee or
examiner, nor an official committee has been appointed in the
Debtor's case.


ROBERTS PROPERTY: Nov. 18 Hearing on Disclosure Statement
---------------------------------------------------------
A hearing will be held on November 18, 2019 at 11:30 a.m., in 4th
Floor Courtroom D, 300 North Hogan Street, Jacksonville, Florida,
to consider and rule on the disclosure statement explaining the
Chapter 11 plan of Roberts Property & Holdings, LLC.

Any objection to the proposed disclosure statement must be filed
and served seven (7) days before the date set forth.

CLASS 1 - BBVA USA LOANS are impaired. Payments to BBVA shall be
equal in amount and commence on the effective date of the plan, and
continue on the same day of each succeeding month, unless the Court
has entered an order requiring adequate protection payments. The
estimated value of the secured claim in this class is $1,493,045.
The estimated payment on the secured claim is $8,680 each month.

CLASS 2 - SBA LOANS are impaired. Payments to SBA shall be equal in
amount and commence on the effective date of the plan, and continue
on the same day of each succeeding month, unless the Court has
entered an order requiring adequate protection payments. The
estimated value of the secured claim in this class is $30,000. The
estimated payment on the secured claim is $175 each month.

CLASS 3 - UNSECURED CLAIMS are impaired. The claims in this class
will be satisfied with cash payments. Distributions to this class
shall commence on the effective date of the plan and continue on
the same day of each succeeding month for 240 months. Distributions
shall equal an amount necessary to satisfy each claim in this class
in 240 equal monthly payments.

The source of funding for this plan is the personal income of the
Louie F. Wise, III from his employment.  The primary asset of the
Debtor is land and a commercial structure where the Affiliates
conduct and operate business.

A full-text copy of the Disclosure Statement dated September 9,
2019, is available at https://tinyurl.com/y59odysl from
PacerMonitor.com at no charge.

Roberts Property & Holdings, LLC, filed a voluntary Chapter 11
petition (Bankr. M.D. Fla. Case No. 19-3409) on September 9, 2019.
The Debtor is represented by:

     Richard A. Perry, Esq.
     RICHARD A. PERRY P.A.
     820 East Fort King Street
     Ocala, FL 34471-2320
     Tel: 352-732-2299
     Email: richard@rapocala.com


RRQ LLC: Seeks Court Approval of Disclosure Statement
-----------------------------------------------------
RRQ, LLC, asks the Court to approve the disclosure statement.

RRQ will accept a debtor-in-possession financing in the amount of
$200,000, and will distribute this to its secured creditors and pay
the administration cost of the bankruptcy.  The balance of the
proceeds will be divided between the unsecured creditors, but in no
event will there be any distribution to unsecured creditors Allan
Nowicki and Dianne M. Nowicki.  The distribution of the $200,000
will occur on or before December 30, 2019.

A full-text copy of the Disclosure Statement dated September 9,
2019, is available at https://tinyurl.com/yxfzu7p6 from
PacerMonitor.com at no charge.

RRQ, LLC, filed a Chapter 11 Petition (Bankr. E.D. Pa. Case No.
19-13045) on May 9, 2019, and is represented by Stuart A.
Eisenberg, Esq., and Carol McCullough, Esq., at McCullough
Eisenberg, LLC.


RYMAN HOSPITALITY: S&P Affirms 'B+' ICR on Proposed Refinancing
---------------------------------------------------------------
S&P Global Ratings assigned its 'BB-' issue-level rating and '2'
recovery rating to U.S. hotel owner Ryman Hospitality Properties
Inc.'s proposed $500 million senior unsecured notes due 2027, the
proceeds of which will be used to refinance $350 million of senior
unsecured notes due 2021 and to repay a portion of the outstanding
balance on its revolving credit facility.  

Meanwhile, S&P affirmed its 'B+' issuer credit rating and all
existing issue-level ratings on Ryman's debt, including its senior
secured credit facility and senior notes due 2024.

S&P said, "We are affirming our 'B+' issuer credit rating despite
weak leverage through 2020 because the proposed transaction
primarily refinances debt and does not add incremental leverage. We
are also affirming the rating despite slowing, low-single-digit
U.S. lodging industry revenue per available room (RevPAR) growth
through 2020. This is because we expect Ryman's net rooms nights
booked over the next two years will drive total RevPAR performance
that will likely outpace the industry and enable Ryman to increase
EBITDA and reduce leverage under our 5x downgrade threshold over
the next two years."

"The negative outlook reflects our expectation that Ryman's
leverage will be weaker than our 5x downgrade threshold through
2020, primarily as a result of recent investments in existing
properties and the company's use of leverage to increase its stake
in its Gaylord Rockies JV and consolidating the JV's debt on its
balance sheet."

"We could lower the rating if we believed Ryman would sustain our
measure of leverage above our 5x downgrade threshold, likely as a
result of operating underperformance, a leveraging acquisition, or
a debt-financed investment in a future project such as Chula Vista.
Downgrade risks could be heightened if the company chose to make
significant future investments and did not partially finance them
with equity."

"We could revise the outlook to stable once we believed that our
measure of total adjusted debt to EBITDA would stay under 5x, which
is possible if the company continues to successfully ramp up
Gaylord Rockies while modestly increasing total RevPAR and EBITDA
at the other four properties. Although unlikely given Ryman's
policy of sustaining leverage at about 4.5x over time, we would
consider a higher rating if Ryman were to maintain adjusted debt to
EBITDA below 4x. We could also consider a higher rating if the
company were to pursue additional growth opportunities that do not
meaningfully increase leverage and that expand the company's
distribution network."


SAN JUAN ICE: Court Conditionally Approves Disclosure Statement
---------------------------------------------------------------
The Amended Disclosure Statement of San Juan Ice Inc. is
conditionally approved.

A hearing for the consideration of the final approval of the
Amended Disclosure Statement and the confirmation of the Amended
Plan and of such objections as may be made to either will be held
on October 16, 2019, at 9:00 AM, at the U.S. Bankruptcy Court,
José V. Toledo U.S. Post Office and Courthouse Building, 300
Recinto Sur Street, Courtroom 3, Third Floor, San Juan, Puerto
Rico.

Any objection to the final approval of the Amended Disclosure
Statement and/or the confirmation of the Amended Plan must be filed
on/or before fourteen (14) days prior to the date of the hearing on
confirmation of the Plan.

Class 3 Classes of General Unsecured Claims. Class 3 unsecured
claims filed by creditor shall be paid after the payment of all
secured and priority claims. General Unsecured claims shall be paid
21 % of their value of the claim.

Class 1 Classes of Secured Claims. Secured claims are held by
Symetric Engineering, CSP and CRIM. Class 1 claims to be paid in
the following manner: Secured claim to CRIM in the amount of
$2,460.84 to be paid within 5 years of the filing of the petition.
Secured creditor, Symetric Engineering, CSP, in the amount of
$189,038.91, shall be paid in full commencing 5 years after the
filing date of the petition in monthly payments to be paid within
the following 5 years.

Class 2 Classes of Priority Unsecured Claims. Class 2 Priority
claims to the Puerto Rico Treasury Department in the amount of
$86,673.37, to the Puerto Rico Department of Labor, $6,039.00 and
$16,126.00 shall be paid with five years. Class 3 unsecured claims
filed by creditor shall be paid after the payment of all secured
and priority claims.  

Payments and distributions under the Plan will be funded by income
generated from the sales from the ice plant performed by debtor.

A full-text copy of the Fifth Amended Disclosure Statement dated
September 9, 2019, is available at https://tinyurl.com/yxm45rdu
from PacerMonitor.com at no charge.

Attorney for Debtor:

     Robert Millan, Esq.
     MILLAN LAW OFFICES
     CALLE SAN JOSE #250
     SAN JUAN, PUERTO RICO, 00901-0000
     Tel: (787) 725-0946
     Fax: (787) 579-1533
     Email: rmi3183180@aol.com

                    About San Juan Ice, Inc.

San Juan Ice Inc., based in San Juan, PR, filed a Chapter 11
petition (Bankr. D.P.R. Case No. 18-01784) on April 3, 2018.  In
the petition signed by Ramiro Rodriguez Pena, president, the Debtor
disclosed $580,495 in assets and $1.17 million in liabilities.  The
Hon. Mildred Caban Flores presides over the case.  Robert Millan,
Esq., at Millan Law Offices, serves as bankruptcy counsel.


SANCHEZ ENERGY: Foley, Morrison Represent Secured Bondholders
-------------------------------------------------------------
In the Chapter 11 cases of Sanchez Energy Corporation, et al., the
law firms of Foley & Lardner LLP and Morrison & Foerster LLP
submitted a verified statement under Rule 2019 of the Federal Rules
of Bankruptcy Procedure to disclose that they are representing the
Ad Hoc Group of certain unaffiliated funds, accounts, and/or
managers of funds or accounts, as beneficial holders of obligations
arising from or relating to the 7.25% Senior Secured First Lien
Notes due 2023.

The Ad Hoc Group retained Morrison & Foerster in January 2019 to
represent it in connection with a potential restructuring of the
Debtors and in these cases. In addition, the Ad Hoc Group retained
Foley & Lardner LLP in May 2019 to represent it as local counsel in
connection with a potential restructuring of the Debtors and in
these cases. As of the date of this Verified Statement, Morrison &
Foerster and Foley & Lardner LLP continue to represent the Ad Hoc
Group in connection with the Debtors' chapter 11 cases.  As of the
date of this Verified Statement, neither Morrison & Foerster nor
Foley & Lardner LLP represents or purports to represent any other
entity or entities in connection with the Debtors’ chapter 11
cases. Neither Morrison & Foerster nor Foley & Lardner LLP
represents the Noteholders, the Ad Hoc Group, or any of the DIP
Lenders as a "committee".  Except as expressly set forth in this
Verified Statement, Morrison & Foerster and Foley & Lardner LLP do
not undertake to represent the interests of, nor are they a
fiduciary for, any creditor, party in interest, or other entity.
In addition, except as otherwise expressly stated in this Verified
Statement, the Ad Hoc Group does not represent or purport to
represent, or serve as fiduciary for, any other entities in
connection with the Debtors' chapter 11 cases or otherwise.

Morrison & Foerster has been advised by the members of the Ad Hoc
Group that the individual members of the Ad Hoc Group either hold
claims or act as investment managers or advisors to funds and/or
accounts that hold claims against the Debtors' estates.

As of Sept. 13, 2019, members of the Ad Hoc Group and their
disclosable economic interests are:

(1) Apollo Commodities Management, L.P.
    9 West 57th Street
    New York, NY 10019

    * $103,897,000.00 aggregate outstanding principal amount of
      First Lien Notes

(2) Capital Research and Management Company
    630 Fifth Avenue, 31st Floor
    New York, NY 10111

    * $32,655,000 aggregate outstanding principal amount of First
      Lien Notes

(3) CQS (UK) LLP
    One Strand
    4th Floor London
    WC2N 5HR
    United Kingdom

    * $17,256,000 aggregate outstanding principal amount of First
      Lien Notes

(4) Cross Ocean Partners Management LP
    20 Horseneck Lane
    Greenwich, CT 06830

    * $30,850,000 aggregate outstanding principal amount of First
      Lien Notes

    * $11,042,000 aggregate outstanding principal amount of 7.75%
      Senior Notes Due June 2021

    * $1,250,000 of 6.125% senior unsecured notes due January 2023

      (the "6.125% Senior Notes")

(5) Fidelity Management & Research Company
    200 Seaport Boulevard, V13H
    Boston, MA 02210

    * $181,295,000 aggregate outstanding principal amount of First

      Lien Notes

    * $110,389,000 aggregate outstanding principal amount of
      6.125% Senior Notes

(6) Northwestern Mutual Investment Management Company, LLC
    720 East Wisconsin Ave
    Milwaukee, WI 53202

    * $12,500,000 aggregate outstanding principal amount of First
      Lien Notes

(7) Orbis Investment Management Limited
    Orbis House, 25 Front Street
    Hamilton, HM11, Bermuda

    * $47,722,000 aggregate outstanding principal amount of First
      Lien Notes

(8) Southpaw Credit Opportunity Master Fund L.P.
    2 West Greenwich Office Park, 1st Floor
    Greenwich, CT 06831

    * $29,826,000 aggregate outstanding principal amount of First
      Lien Notes

    * $68,000,000 aggregate outstanding principal amount of 6.125%

      Senior Notes

Additional holders of First Lien Notes may become members of the Ad
Hoc Group or become DIP Lenders, and certain of the current members
may cease to be members of the Ad Hoc Group or DIP Lenders in the
future.  Morrison & Foerster reserves the right to amend the
verified statement as necessary in accordance with the requirements
set forth in Bankruptcy Rule 2019.

Counsel to the Ad Hoc Group can be reached at:

          FOLEY GARDERE
          Foley & Lardner LLP
          John P. Melko, Esq.
          1000 Louisiana, Suite 2000
          Houston, TX 77002
          E-mail: jmelko.@foley.com
          Telephone: (713) 276-5727
          Facsimile: (713) 276-6727

                   - and -

           MORRISON & FOERSTER LLP
           Dennis L. Jenkins, Esq.
           Brett H. Miller, Esq.
           250 West 55th Street
           New York, NY 10019
           Telephone: (212) 468-8000
           E-mail: djenkins@mofo.com
                   brettmiller@mofo.com

A copy of the Rule 2019 filing, downloaded from PacerMonitor.com,
is available at https://is.gd/i8pJYf

                    About Sanchez Energy Corp.

Sanchez Energy Corporation and its affiliates --
https://sanchezenergycorp.com/ -- are independent exploration and
production companies focused on the acquisition and development of
U.S. onshore oil and natural gas resources.  Sanchez Energy is
currently focused on the development of significant resource
potential from the Eagle Ford Shale in South Texas, and holds other
producing properties and undeveloped acreage, including in the
Tuscaloosa Marine Shale (TMS) in Mississippi and Louisiana.  

As of Dec. 31, 2018, the companies had approximately 325,000 net
acres of oil and natural gas properties with proved reserves of
approximately 380 million barrels of oil equivalent and interests
in approximately 2,400 gross producing wells.

Sanchez Energy and 10 affiliates sought protection under Chapter 11
of the Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 19-34508)
on Aug. 11, 2019.  As of June 30, 2019, the companies disclosed
$2,159,915,332 in assets and $2,854,673,930 in liabilities.  

The cases have been assigned to Judge Marvin Isgur.

The companies tapped Akin Gump Strauss Hauer & Feld LLP and Jackson
Walker L.L.P. as bankruptcy counsel; Moelis & Company LLC as
financial advisor; Alvarez & Marsal North America LLC as
restructuring advisor; and Prime Clerk LLC as notice and claims
agent.


SEMGROUP CORP: Moody's Reviews B2 CFR for Upgrade Amid Merger Deal
------------------------------------------------------------------
Moody's Investors Service placed on review for upgrade the B2
corporate family rating of SemGroup Corporation, its B2-PD
probability of default rating and B3 senior unsecured rating. The
SGL-2 short term speculative grade liquidity rating is unchanged.
Concurrently, Moody's also placed on review for upgrade the Ba3
CFR, Ba3-PD probability of default and Ba3 senior secured ratings
of HFOTCO, a wholly owned subsidiary of SEMGroup.

On Review for Upgrade:

Issuer: SemGroup Corporation

Probability of Default Rating, Placed on Review for Upgrade,
currently B2-PD

Corporate Family Rating, Placed on Review for Upgrade, currently
B2

Senior Unsecured Notes, Placed on Review for Upgrade, currently B3
(LGD5)

Issuer: HFOTCO LLC

Probability of Default Rating, Placed on Review for Upgrade,
currently Ba3-PD

Corporate Family Rating, Placed on Review for Upgrade, currently
Ba3

Senior Secured Term Loan, Placed on Review for Upgrade, currently
Ba3 (LGD4)

Outlook Actions:

Issuer: SemGroup Corporation

Outlook, Changed To Rating Under Review From Stable

Issuer: HFOTCO LLC

Outlook, Changed To Rating Under Review From Stable

RATINGS RATIONALE

These rating actions follow the announcement by SEMGroup that it
has entered into a definitive merger agreement whereby SemGroup
will be acquired by Energy Transfer LP (ET) in a unit and cash
transaction valued at approximately $5.1 billion, including the
assumption of debt and other liabilities of SEMGroup.

The transaction was approved by the board of directors of both
Energy Transfer and SEMGroup and is expected to close by late 2019
or early 2020, subject to obtaining regulatory approvals, SemGroup
shareholder approval and other customary closing conditions.
Moody's expects to conclude the ratings review concurrently with
the closing of the acquisition by Energy Transfer and the
assumption of debt. As part of the review, Moody's will seek to
confirm new organizational and governance arrangements for SEMGroup
and its wholly owned subsidiary HFOTCO.

If all of SEMGRoup's debt is retired, Moody's will withdraw
SEMGroup's ratings. In the event that SEMGroup's debt remains
outstanding and is fully guaranteed by ET, SEMGroup's ratings on
the unsecured notes would likely be equalized with ET's Baa3 notes
rating. Without an ET guarantee or SEMGroup audited financial
statements, SEMGroup's notes ratings will be withdrawn.

SemGroup Corporation owns a diverse suite of midstream assets
focused on the gathering, processing, transportation, and storage
of crude oil and natural gas across several major North American
oil and gas basins. HFOTCO is one of the largest providers of
residual fuel and crude oil storage in the US Gulf Coast with
approximately 16.8 million barrels of tankage.

The principal methodology used in these ratings was Midstream
Energy published in December 2018.


SEMGROUP CORP: S&P Puts 'B+' ICR on Watch Pos. on Energy Deal
-------------------------------------------------------------
S&P Global Ratings placed its 'B+' issuer credit and senior
unsecured issue-level ratings, and 'BB' senior secured issue-level
rating on SemGroup Corp. (SEMG) on CreditWatch with positive
implications. The recovery ratings on the company's senior secured
and senior unsecured debt are unchanged at '1' and '4',
respectively.

At the same time, S&P is also placing its 'BB-' issuer credit and
issue-level ratings on HFOTCO on CreditWatch with positive
implications. The '3' recovery rating on the secured term loan is
unchanged.

On Sept. 16, 2019, Energy Transfer LP (ET) announced plans to
acquire SEMG and its subsidiaries, including HFOTCO LLC (HFOTCO).

Under the proposed transaction structure, SEMG shareholders will
receive $17 per share, 40% in cash and 60% in ET shares. When the
acquisition closes, S&P anticipates SEMG assets (including HFOTCO)
will be fully merged and integrated into ET.

S&P said, "The CreditWatch placement reflects our expectation that
post acquisition, SEMG and HFOTCO will be fully integrated into ET,
and, as a result, the ratings will be equalized with that on ET at
'BBB-'. We intend to resolve the CreditWatch when the transaction
closes, which is expected to occur in late 2019 or early 2020."


SHERIDAN INVESTMENT II: Moody's Lowers Corp. Family Rating to C
---------------------------------------------------------------
Moody's Investors Service downgraded Sheridan Investment Partners
II, L.P., Sheridan Production Partners II-A, L.P. and Sheridan
Production Partners II-M, L.P., Probability of Default Ratings to
D-PD from Ca-PD, Corporate Family Ratings to C from Ca and the
ratings on senior secured bank credit facility to Ca from Caa2. The
rating outlooks remain negative. These actions follow Sheridan II's
filling for voluntary petitions for relief under Chapter 11 of the
Bankruptcy Code in the United States Bankruptcy Court for the
Southern District of Texas.

Downgrades:

Issuer: Sheridan Investment Partners II, LP

  Probability of Default Rating, Downgraded to D-PD from Ca-PD

  Corporate Family Rating, Downgraded to C from Ca

  Senior Secured Bank Credit Facility, Downgraded to Ca (LGD3)
  from Caa2 (LGD2)

Issuer: Sheridan Production Partners II-A, LP

  Probability of Default Rating, Downgraded to D-PD from Ca-PD

  Corporate Family Rating, Downgraded to C from Ca

  Senior Secured Bank Credit Facility, Downgraded to Ca (LGD3)
  from Caa2 (LGD2)

Issuer: Sheridan Production Partners II-M, LP

  Probability of Default Rating, Downgraded to D-PD from Ca-PD

  Corporate Family Rating, Downgraded to C from Ca

  Senior Secured Bank Credit Facility, Downgraded to Ca (LGD3)
  from Caa2 (LGD2)

Outlook Actions:

Issuer: Sheridan Investment Partners II, LP

  Outlook, Remains Negative

Issuer: Sheridan Production Partners II-A, LP

  Outlook, Remains Negative

Issuer: Sheridan Production Partners II-M, LP

  Outlook, Remains Negative

RATINGS RATIONALE

The Chapter 11 bankruptcy filing has resulted in a downgrade of
Sheridan II's PDR to D-PD. Moody's also downgraded the CFR to C and
the rating of the senior bank credit facility to Ca, reflecting
Moody's view on the potential recoveries. Shortly following this
rating action, Moody's will withdraw all Sheridan II ratings.

The principal methodology used in these ratings was Independent
Exploration and Production Industry published in May 2017.


SHOPPINGTOWN MALL NY: Seeks to Hire Bernstein-Burkley as Counsel
----------------------------------------------------------------
Shoppingtown Mall NY LLC seeks approval from the U.S. Bankruptcy
Court for the Western District of Pennsylvania to hire
Bernstein-Burkley, P.C. as its legal counsel.

The firm will advise the Debtor of its powers and duties under the
Bankruptcy Code and will provide other legal services in connection
with its Chapter 11 case.

The hourly rates range from $175 to $550 for the firm's attorneys
and from $145 to $175 for paralegals and assistants.

Bernstein-Burkley received a retainer in the amount of $10,000.

Kirk Burkley, Esq., at Bernstein-Burkley, disclosed in court
filings that the firm does not represent any interest adverse to
the Debtor and its bankruptcy estate.

The firm can be reached through:

     Kirk B. Burkley, Esq.
     Bernstein-Burkley, P.C.
     2200 Gulf Tower
     707 Grant Street
     Pittsburgh, PA 15219
     Tel: 412-456-8108
     Fax: 412-456-8135
     Email: kburkley@bernsteinlaw.com

                    About Shoppingtown Mall NY

Shoppingtown Mall NY LLC classifies its business as single asset
real estate (as defined in 11 U.S.C. Section 101(51B)).

Shoppingtown Mall NY sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. Pa. Case No. 19-23178) on Aug. 13,
2019.  At the time of the filing, the Debtor was estimated to have
assets of between $1 million and $10 million, and liabilities of
between $10 million and $50 million.  The case is assigned to Judge
Carlota M. Bohm.  Bernstein-Burkley, P.C., is the Debtor's counsel.


SOUTH TEXAS: Nov. 19 Plan Confirmation Hearing
----------------------------------------------
The Bankruptcy Court has issued an order conditionally approving
the Amended Disclosure Statement explaining South Texas
Innovations, LLC's Chapter 11 Plan.  The final hearing on the
Disclosure Statement and the hearing on confirmation of the Plan
will be held on November 19, 2019 at 02:30 PM.  Last day to object
to confirmation is November 12, 2019.

Class 3 - General Unsecured Claims are impaired. Each unsecured
creditor of the Debtors shall receive a beneficial interest in the
Litigation Trust, and will receive the net proceeds of the
Litigation Trust pro-rata.

Class 1 - Secured Claim of Woodforest Bank are impaired. All
Secured Claims will retain their rights in their collateral, and
will be paid pursuant to the terms of the Litigation Trust. All
equipment encumbered by the Woodforest claim will be surrendered,
with all remaining collateral transferred to the Litigation Trust.
Woodforest National Bank is the only secured creditor, asserting a
lien against all of the Debtor’s assets.

The Debtor will transfer all assets to the Reorganized Debtor, who
shall then transfer all intangible assets, including all claims and
causes of action to the Litigation Trust (equipment and other
tangible assets are being surrendered to Woodforest under the
Plan). The Debtor currently has approximately $61,000.00 on hand,
with the remainder of assets in receivables and claims on completed
jobs.

A full-text copy of the Amended Disclosure Statement dated
September 13, 2019, is available at https://tinyurl.com/y33nlf3y
from PacerMonitor.com at no charge.

A full-text copy of the Amended Disclosure Statement dated
September 16, 2019, is available at https://tinyurl.com/y4c9tdr7
from PacerMonitor.com at no charge.

Counsel for the Debtor:

     Johnie Patterson, Esq.
     WALKER &PATTERSON, P.C.
     P.O. Box 61301
     Houston, TX 77208-1301
     Tel: 713.956.5577
     Fax: 713.956.5570
     Email: jjp@walkerandpatterson.com

               About South Texas Innovations

Creditors Titan Formwork Systems LLC, Superior Crushed Stone LC and
T-Star Sawing & Drilling LLC filed a Chapter 7 involuntary petition
(Bankr. S.D. Texas Case No. 18-34245) against South Texas
Innovations LLC on Aug. 3, 2018.  The creditors are represented by
Lisa M. Norman, Esq.

On Nov. 1, 2018, the Chapter 7 case was converted to one under
Chapter 11 (Bankr. S.D. Tex. Case No. 18-34245).  The case is
assigned to Judge David R. Jones.  

The Debtor tapped Walker & Patterson, P.C. as its legal counsel.


SPIN HOLDCO: S&P Cuts Ratings to B- on Lower Cash Flow
------------------------------------------------------
S&P Global Ratings lowered all its ratings on Plainview, N.Y.-based
outsourced laundry service provider, Spin Holdco Inc. d/b/a CSC
ServiceWorks' (CSC), including its issuer and senior secured credit
facility issue-level rating, to 'B-' from 'B'.

The downgrade reflects S&P's expectation that the company's free
operating cash flow (FOCF) generation and deleveraging in 2020 and
beyond will fall short of the rating agency's previous
expectations. Previously, S&P had expected the company's FOCF
deficits to stop in 2020 but it now forecasts FOCF deficits, which
includes capitalized advance location payments, to persist over the
next 12 to 24 months as the company pursues its growth initiatives.
S&P forecasts about $30 million-$40 million FOCF deficits over the
next 12 months and expect the company to fund its cash needs
through additional borrowings under its revolving credit facility.


S&P said, "The stable outlook reflects our expectation that over
the next 12 months, CSC will achieve revenue growth in the 2% area,
improve EBITDA margins by 50 bps to 100 bps, and will maintain
sufficient liquidity to support its growth objectives."

"We could lower our ratings if business performance weakens or if
cash flow deficits persist or worsen, causing us to lower our
assessment of the company's liquidity position. In this scenario,
weaker-than-expected operating performance, cash flow deficits,
debt-financed acquisitions or distributions, or expected difficulty
refinancing upcoming debt maturities could cause us to lower our
ratings or conclude the company's capital structure is
unsustainable."

"We view an upgrade as unlikely over the next 12 months given the
company's growth strategy and aggressive financial policy, and our
expectation for ongoing cash flow deficits. However, we would
consider an upgrade if the company was able to generate
significantl revenue and EBITDA growth, and achieve FOCF to debt in
the mid-single-digit area while maintaining adjusted debt leverage
sustained below 7x."


SPORTCO HOLDINGS: Oct. 21 Combined Plan, Disclosures Hearing
------------------------------------------------------------
The Bankruptcy Court has issued an order approving, on a
conditional basis, the combined disclosure statement and joint
Chapter 11 plan of liquidation filed by Sportco Holdings, Inc., and
its debtor affiliates.  The final hearing on the approval of the
Combined Plan and Disclosure Statement is scheduled for October 21,
2019, at 10:00 a.m. (ET).  Objections to confirmation of the Plan
and Disclosure Hearing on must be received no later than October
15.

In the First Amended Plan, Class 4 is composed of General unsecured
claims $43,000,000 in general unsecured claims amounting to
approximately 16% of total class 4 claims and prepetition term loan
deficiency claim with estimated allowed claims of $223,828,000 in
Prepetition Term Loan Deficiency Claims amounting to approximately
84% of total Class 4 Claims.  Holders of Allowed General Unsecured
Claims and Prepetition Term Loan Deficiency Claims will share in
recoveries from both Type A and Type B Causes of Action in the
percentage amounts described herein.

Type A Cause of Action Recoveries: After the Prepetition Term Loan
Agent and those Prepetition Term Loan Lenders which agree to fund
the Type A Causes of Action first receive 38% of the proceeds from
the Type A Causes of Action (representing repayment of (i) the
costs associated with the prosecution of the Type A Causes of
Action, including, but not limited to contingency fees, (ii) the
general economic risk incurred in funding litigation, (iii) funding
by the Prepetition Term Loan Agent of administrative and priority
claims, (iv) the Effective Date waiver of the Allowed Prepetition
Term Loan Diminution Claim, and (v) the Effective Date release of
the Prepetition Term Loan Adequate Protection Liens), then the
remaining 62% of such proceeds shall be distributed as follows:
Holders of General Unsecured Claims shall be entitled to receive
15%, and the Prepetition Term Loan Lenders on account of their
Allowed Prepetition Term Loan Deficiency Claims shall be entitled
to receive 85%, of the remaining proceeds from the Type A Causes of
Action. The Type A Cause of Action Recoveries shall be unaffected
by any stay, removal, remand, transfer (by any mechanism
whatsoever, including but not limited to an order granting a motion
to transfer or a dismissal without prejudice to refile in a
different jurisdiction), or appeal of any of the Type A Causes of
Action.

Type B Causes of Action Recoveries: After repayment of the
Liquidation Trust Funding Amount B (plus any potential additional
funding amounts in accordance with the Liquidating Trust Agreement)
to the Prepetition Term Loan Agent and Prepetition Term Loan
Lenders which agree to fund the Type B Causes of Action (in each
case up to the amounts such Prepetition Term Loan Lender in fact
participates in such funding whether out of the Cash on hand in the
Debtors’ estates constituting cash collateral of the Prepetition
Term Loan Lenders or otherwise), and any additional professional
fees, expenses, and any and all other related costs associated with
the prosecution of the Type B Causes of Action, Holders of General
Unsecured Claims shall be entitled to receive 30%, and the
Prepetition Term Loan Deficiency Claims shall be entitled to
receive 70%, of the proceeds from the Type B Causes of Action.

Unclassified administrative expense claims with estimated allowed
claims of $3,261,145 and estimated recovery of 100%. Paid in full
up to the total amount set forth in the Approved Budget; provided,
however, that the Debtors reserve their right to seek payment of
administrative and Debtors' Professional fees in excess of the
total budgeted amount in light of any unforeseen substantial
circumstances, so long as such amounts are incurred after September
30, 2019 and do not exceed $100,000 allocated solely to the
Debtors' Professionals.

The Prepetition Term Loan Diminution Claim is at least $6,801,666
arising from the Prepetition Term Loan Lenders' funding from its
cash collateral professional fees totaling $4,887,000 and employee
severance and retention payments totaling $1,914,066 as of the date
hereof pursuant to the Order (I) Authorizing and Approving the
Debtors' Key Employee Retention Program for Certain Non-Insider
Employees and (II) Granting Related Relief dated July 16, 2019, and
the Order Pursuant to Sections 105(a), 363 and 503 of the
Bankruptcy Code, Authorizing the Debtors to Make PostPetition
Severance Payments to Non-Insider Employees in Accordance with the
Debtors' PrePetition Severance Program dated July 16, 2019.  In
consideration of certain treatment set forth in the Plan, upon the
Effective Date, the Prepetition Term Loan Agent shall waive the
Prepetition Term Loan Diminution Claim and release the Prepetition
Adequate Protection Liens.  The Wellspring Claims. Wellspring has
filed proofs of claim and alleges that the Debtors are liable to
Wellspring for unpaid management fees and expenses owed pursuant to
the Management Expense Reimbursement Agreement in amounts of not
less than $3,000,000 and $486,259, respectively. The Prepetition
Term Loan Agent alleges that pursuant to the terms of the
Prepetition Term Loan Agreement, such claims arising from the
Management Agreement are contractually prohibited and subordinated
to the Prepetition Term Loan Lenders until the Obligations owing to
the Prepetition Term Loan Lenders are indefeasibly paid in full,
and as such have no value.

As of the Petition Date, the Debtors had $59,384,717 in inventory
and $23,481,902 in accounts receivable. During the course of these
Chapter 11 Cases, the Debtors sold substantially all of the
remaining inventory in the ordinary course of business, with no
remaining inventory as of the filing of this Combined Plan and
Disclosure Statement. Similarly, during the course of these Chapter
11 Cases, the Debtors collected substantially all of the initial
$23,481,902 in accounts receivable, with only $3,391,210 of such
amount remaining as of the filing of this Combined Plan and
Disclosure Statement. Additionally, during the course of these
Chapter 11 Cases, the Debtors had gross sales of $47,238,647 of
which $44,254,898 has been collected, leaving an additional
$2,983,749 of accounts receivable remaining as of the filing of
this Combined Plan and Disclosure Statement. The Debtors intend to
continue collecting the remaining accounts receivable in the
ordinary course of business. If any inventory or accounts
receivable remain as of the Effective Date, such assets will be
distributed to the Holders of the Class 2 Claims as set forth in
this Combined Plan and Disclosure Statement.

In the Second Amended Plan, the Debtor added the term "Wellspring
Subordinated Claims," which means any of Wellspring's Claims that
the Bankruptcy Court finds are subordinate, whether by agreement or
otherwise. To the extent that any of Wellspring’s Claims are not
found to be subordinate, such Claims shall be General Unsecured
Claims under this Combined Plan and Disclosure Statement.

The Committee filed an omnibus reclassification objection to
Wellspring's proofs of claim on September 10, 2019.  The Committee
asserts that Wellspring is not a general unsecured creditor
entitled to vote on the Combined Plan and Disclosure Statement,
given that all of Wellspring's liquidated Claims are contractually
subordinated to the Claims of the Prepetition Term Loan Lenders.

A blacklined copy of the Second Amended Combined Disclosure
Statement dated September 13, 2019, is available at
https://tinyurl.com/y2fykn8x from PacerMonitor.com at no charge.

A full-text copy of the Second Amended Combined Disclosure
Statement dated September 13, 2019, is available at
https://tinyurl.com/y2fykn8x from PacerMonitor.com at no charge.

A full-text copy of the First Amended Disclosure Statement dated
September 10, 2019, is available at https://tinyurl.com/y5qlu54a
from PacerMonitor.com at no charge.

A blacklined version of the Amended Combined Plan and Disclosure
Statement dated September 10, 2019, https://tinyurl.com/y5qlu54a
from PacerMonitor.com at no charge.

Counsel to the Debtors:

     Christopher A. Ward, Esq.
     Brenna A. Dolphin, Esq.
     POLSINELLI PC
     222 Delaware Avenue, Suite 1101
     Wilmington, Delaware 19801
     Telephone: (302) 252-0920
     Facsimile: (302) 252-0921
     Email: cward@polsinelli.com
            bdolphin@polsinelli.com

        -- and --

     Timothy W. Walsh, Esq.
     Darren Azman, Esq.
     Riley T. Orloff, Esq.
     MCDERMOTT WILL & EMERY LLP
     340 Madison Avenue
     New York, New York 10173-1922
     Telephone: (212) 547-5400
     Facsimile: (212) 547-5444
     Email: twwalsh@mwe.com
            dazman@mwe.com
            rorloff@mwe.com

                     About Sportco Holdings

United Sporting Companies, Inc., was founded in 1933 under the name
Ellett Brothers, Inc. before merging with Jerry's Sports, Inc., in
2009 and formally changing its name to United Sporting Companies,
Inc. on July 16, 2010.  Headquartered in Chapin, S.C., the
companies are marketers and distributors of a broad line of
products and accessories for hunting and shooting sports, marine,
camping, archery, and other outdoor activities.

The companies' product line of over 55,000 SKUs includes firearms,
reloading, marine electronics, trolling motors, optics, cutlery,
archery equipment, ammunition, leather goods, camping equipment,
sportsman gifts, and a variety of other outdoor sporting goods
products.  The companies carry the major brands in the outdoor
sports industry, including Remington, Ruger, Browning, Winchester,
Smith & Wesson, Glock, Bushnell, Sig Sauer, Springfield Armory,
Hornaday, Henry, Magpul, Armscor, MotorGuide, Minn Kota, Lowrance,
Federal, CCI, Taurus, and Leupold.  The companies employ 321
people.  SportCo, a Delaware corporation, is a holding company with
no business operations.

SportCo Holdings, Inc. and its affiliates, including United
Sporting Companies, Inc., sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Del. Lead Case No. 19-11299) on  June
10, 2019.  At the time of the filing, SportCo had estimated assets
of less than $50,000 and liabilities of between $100 million and
$500 million.  The cases are assigned to Judge Laurie Selber
Silverstein.

The Debtors tapped McDermott Will & Emery LLP as their bankruptcy
counsel; Polsinelli PC as local Delaware counsel; Winter Harbor LLC
as restructuring advisor; and BMC Group, Inc. as notice and claims
agent.

Andrew Vara, acting U.S. trustee for Region 3, on June 17, 2019,
appointed seven creditors to serve on the official committee of
unsecured creditors in the Chapter 11 case.  The Committee retained
Lowenstein Sandler LLP, as counsel, and Morris James LLP, as
co-counsel.


STELCO INC: S&P Assigns 'B-' Issuer Credit Rating; Outlook Stable
-----------------------------------------------------------------
S&P Global Ratings assigned its 'B-' long-term issuer credit rating
and stable outlook to Canada-based Stelco Inc.

At the same time, S&P  assigned its 'B-' issue-level rating and '3'
recovery rating to Stelco's proposed US$300 million of senior
secured notes due 2024 that will fund strategic capital investments
and potential acquisitions.

Stelco has limited operating breadth, with exclusive reliance on a
single blast furnace for cash flow generation.

Stelco Inc. primarily produces common grade hot rolled coil (HRC)
from a single blast furnace at its Lake Erie Works (LEW) facility
in Ontario. S&P Global Ratings believes the exclusive reliance on
one blast furnace subjects the company to the risk of unexpected
operational issues that could materially affect its earnings and
cash flow. S&P also views steel production from blast furnaces as
comparably less flexible than electric arc furnaces (mini-mills).
Stelco is planning a major reline of its blast furnace in 2020,
expected to result in a production outage of approximately 75 days.
S&P expects the company will benefit from improved efficiency and
productivity on completion of this reline (which should increase
hot metal production by about 300,000 net tons [nt]). However, such
relines are conducted about every 25 years and, in S&P's view, pose
the risk of unexpected delays and cost overruns.

A modest share of value-added products and relatively smaller scale
of production contribute to higher volatility of profitability.

Commoditized steel accounts for the majority of Stelco's sales,
with value-added products expected to account for less than 30% of
total sales. In addition, the company's sales are based almost
exclusively on prevailing spot market prices, which expose Stelco's
profitability and credit measures to a high degree of volatility.
Furthermore, S&P's assessment incorporates Stelco's smaller-scale
of production (about 2.2 million metric tons [mt] annually from one
facility) relative to that of most of the company's rated peers in
the U.S., including AK Steel Holding Corp. (6 million mt) and US
Steel Corp. (about 14 million mt).

S&P said, "The stable outlook reflects our expectation that
Stelco's leverage will remain high in 2019 at above 7x, but improve
to about 6x in 2020 as it benefits from modest improvement in steel
prices, cash costs, and production. Our outlook also takes into
consideration the company's strong cash balance, which provides
financial flexibility and funding for operational initiatives that
should yield incremental efficiencies."

"We could downgrade the company over the next 12 months if we
expect Stelco's cash flow and liquidity to weaken materially
relative to our expectations. In our view, this could result from
sustained weakness in steel prices, or higher-than-expected input
costs not offset by higher steel prices. In this scenario, we would
expect funds from operations (FFO) cash interest coverage at about
2x, with material free cash flow deficits that meaningfully weaken
its cash balance."

"We could upgrade the company within the next 12 months if we
expect Stelco to generate leverage materially below our estimates
over the next two years, with stable or improving liquidity. In
this scenario, we would also expect the company's sponsor to
demonstrate a commitment to maintaining more conservative leverage,
including adjusted debt-to-EBITDA remaining below 3x. A longer
track record of relative margin outperformance or improved
operational diversity could also lead to a higher rating."


SUGARFINA INC: U.S. Trustee Forms 7-Member Committee
----------------------------------------------------
Andrew Vara, acting U.S. trustee for Region 3, on Sept. 17
appointed seven creditors to serve on the official committee of
unsecured creditors in the Chapter 11 cases of Sugarfina, Inc. and
its affiliates.

The committee members are:

     (1) Agman Investments LLC
         Attn: Howard Scott Silverman
         10 E. Ohio St., 2nd Floor
         Chicago, IL 60611
         Phone: 312-450-7330   

     (2) Fedex Corporate Services, Inc.  
         Attn: Michael Siedband
         3680 Hacks Cross Road
         Building B, 3rd Floor
         Memphis, TN 38125
         Phone: 901-434-3228   

     (3) Everplus F&B Fund, LLC
         Attn: Xuesong Yu
         610 Newport Center Dr., Suite 1260
         Newport Beach, CA 92660
         Phone: 949-287-6777

     (4) Marich Confectionery Company
         Attn: Jessie Guardado
         2101 Bert Drive
         Hollister, CA 95023
         Phone: 831-634-4700
         Fax: 831-634-4705

     (5) Efrutti
         Attn: Christian Weihprecht
         733 Lee Street, Suite 206
         Des Plaines, IL 60016
         Phone: 847-257-7464
         Fax: 847-813-5251

     (6) Right Click, Inc.
         Attn: Baiju Mehta
         1221 E. Dryer Road, Suite 225
         Santa Ana, CA 92705
         Phone: 714-556-5999
         Fax: 714-556-5995

     (7) AMAC
         Attn: Steven Catechi
         P.O. Box 750249
         Petaluma, CA 94975-0249
         Phone: 800852-7158
         Fax: 888-852-7158
  
Official creditors' committees serve as fiduciaries to the general
population of creditors they represent.  They may investigate the
debtor's business and financial affairs. Committees have the right
to employ legal counsel, accountants and financial advisors at a
debtor's expense.

                       About Sugarfina Inc.

Sugarfina Inc. -- https://www.sugarfina.com/ -- operates an
"omnichannel" business, involving design, assembly, marketing, and
sale of confectionary items through a retail fleet of 44 "Candy
Boutiques", including 11 "shop in shops" within Nordstrom's
department stores, a wholesale channel, e-commerce, international
franchise, and a corporate/custom channel.  Its offerings are
sourced from the finest candy makers in the world and include such
iconic varieties as Champagne Bears, Peach Bellini, Sugar Lips,
Green Juice Bears, and Cold Brew Bears.  The Debtors employ 335
people, including 71 individuals at the Company's headquarters in
El Segundo, Calif.

Sugarfina, Inc., and two affiliates sought Chapter 11 protection
(Bankr. D. Del. Lead Case No.19-11973) on Sept. 6, 2019.

Sugarfina estimated $10 million to $50 million in assets and
liabilities.

The Hon. Mary F. Walrath is the case judge.

The Debtors tapped Morris James LLP as counsel, and Force Ten
Partners, LLC as financial advisor.  BMC Group Inc. is the claims
agent.


TEGNA INC: S&P Revises Liquidity Assessment to Adequate
-------------------------------------------------------
S&P Global Ratings revised its liquidity assessment on TEGNA Inc.
to adequate from less than adequate and affirmed all its ratings,
including the 'BB' issuer credit rating.

The revision of S&P's liquidity assessment to adequate follows the
issuance of TEGNA's $1.1 billion 5% senior unsecured notes due in
2029. The rating agency now forecasts that liquidity sources will
exceed uses by about 1.5x over the next 12 months and that net
sources would remain positive even with a 15% decline in forecasted
EBITDA.

The stable outlook assumes the company will not pursue additional
leveraging transactions over the next year in order to focus solely
on debt reduction. S&P expects leverage will decline to 4.2x-4.4x
in 2020 from about 5x pro forma in 2019 through a combination of
EBITDA growth and debt repayment.

"We could lower the rating if leverage remains above 4.5x by
year-end 2020 due to issues integrating acquisitions, incremental
debt-funded acquisitions or shareholder returns, or an economic
downturn that causes advertisers to pull back on television
advertising," S&P said, adding that its tolerance for leverage
increasing above 4.5x in the future due to acquisitions would
depend on its assessment of both sector and macroeconomic trends.

"We could raise the rating if leverage improves below 4x and
management makes a public commitment to keep it there, even with
the potential for debt-funded acquisitions or share repurchases. An
upgrade would also require our belief that modest subscriber
declines will not accelerate and that margins will remain stable,"
S&P said.


THERMASTEEL INC: U.S. Trustee Objects to Disclosure Statement
-------------------------------------------------------------
John P. Fitzgerald, III, Acting United States Trustee for Region 4,
objects to the adequacy of Thermasteel, Inc.'s First Amended
Disclosure Statement.

The U.S. Trustee points out that the Disclosure Statement and Plan
do not explain how interest will be calculated.  The U.S. Trustee
further points out that the treatment of Class 4 claims in the
Disclosure Statement and Plan should be modified to set out that
information.  The U.S. Trustee asserts that the Disclosure
Statement does not contain "adequate information" and should not be
approved.

                    About Thermasteel Inc.

Thermasteel, Inc. -- http://www.thermasteelinc.com/-- is a
provider of panelized composite building systems, manufacturing
composite foundation, floor, wall, roof and ceiling panels for
residential, commercial and industrial applications.  Its
pre-insulated steel framing has been used in large military housing
projects in the USA, Germany and Guantanamo Bay, Cuba.  Production
facilities are presently located in USA (Virginia, Alaska), and
Russia, with products being shipped via container to many other
countries.

Thermasteel sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. W.D. Va. Case No. 18-71461) on Oct. 26, 2018.  At the
time of the filing, the Debtor estimated assets of $1 million to
$10 million and liabilities of the same range.  The case is
assigned to Judge Paul M. Black.  The Debtor tapped the Law Office
of Richard D. Scott as its legal counsel.


THRUSH AIRCRAFT: Gets Interim Nod to Use $220K Cash Collateral
--------------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Georgia
approves on an interim basis the motion filed by Thrush Aircraft,
Inc., for authority to use cash collateral of up to $220,000.

The Debtor may use the cash collateral as follows:

    (a) at least $191,000 in payroll obligations and employee
benefits relating to Sept. 20, 2019 payroll; and

    (b) approximately $20,000 in ferrying charges related to the
delivery of an aircraft.

As adequate protection, Wells Fargo Bank, N.A., is granted a
replacement lien in all inventory, machinery and equipment acquired
by the Debtor from the Petition Date through the date of the last
use of cash collateral.

                      About Thrush Aircraft

Thrush Aircraft, Inc., with headquarters in Albany, Georgia,
manufactures a full range of aerial application aircraft used in
agriculture, forestry, and firefighting roles.  Founded in 2003,
the Company operates in at least 80 countries around the world.

The Company sought Chapter 11 protection (Bankr. M.D. Ga. Case No.
19-10976) in Albany, Georgia, on Sept. 4, 2019.  According to the
petition signed by K. Payne Hughes, Sr., president, the Debtor was
estimated to have $10 million to $50 million in assets and
liabilities as of the Petition Date.  STONE & BAXTER, LLP, is
serving as the Debtor's counsel.



THRUSH AIRCRAFT: Seeks to Hire Logue Law as Legal Counsel
---------------------------------------------------------
Thrush Aircraft, Inc., seeks approval from the U.S. Bankruptcy
Court for the Middle District of Georgia to hire Logue Law, P.C.,
as its legal counsel.

The firm will provide these services in connection with the
Debtor's Chapter 11 case:

     (a) advise the Debtor of its powers and duties in the
continued operation of its business and management of its property;


     (b) continue existing litigation, if any, to which the Debtor
may be a party and conduct examinations incidental to the
administration of its bankruptcy estate;

     (c) take actions necessary to the proper preservation and
administration of the Debtor's estate;

     (d) assist the Debtor in the preparation and filing of its
statements of financial affairs and schedules;

     (e) take whatever action is necessary with reference to the
use by the Debtor of its property pledged as collateral;

     (f) prosecute claims asserted by the Debtor; and

     (g) assist the Debtor in connection with claims for taxes made
by governmental units.

The firm's hourly rates are:

           A. Keith Logue   $365
           Paralegals       $125

Logue Law received an initial deposit of $25,000.
  
A. Keith Logue, Esq., at Logue Law, disclosed in court filings that
he and his firm neither hold nor represent any interest adverse to
the Debtor and its bankruptcy estate.

The firm can be reached through:

     A. Keith Logue, Esq.
     Logue Law, PC
     3423 Weymouth Court
     Marietta, GA 30062
     Tel: 770-321-5750
     Fax: 770-321-5751
     E-mail: keith@logue-law.com

                    About Thrush Aircraft

Headquartered in Albany, Ga., Thrush Aircraft, Inc. manufactures a
full range of aerial application aircraft used in agriculture,
forestry, and firefighting roles.  There are currently more than
2,400 Thrush aircrafts operating in some 80 countries around the
world.  The company was founded in 2003.

Thrush Aircraft sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Ga. Case No. 19-10976) on Sept. 4,
2019.  At the time of the filing, the Debtor disclosed assets of
between $10 million and $50 million and liabilities of the same
range.  Logue Law, PC, is the Debtor's counsel.



THRUSH AIRCRAFT: Seeks to Hire Stone & Baxter as Legal Counsel
--------------------------------------------------------------
Thrush Aircraft, Inc., seeks approval from the U.S. Bankruptcy
Court for the Middle District of Georgia to hire Stone & Baxter,
LLP, as its legal counsel.

The firm will provide these services in connection with the
Debtor's Chapter 11 case:

     (a) advise the Debtor of its powers and duties in the
continued operation of its business and management of its property;


     (b) continue existing litigation, if any, to which the Debtor
may be a party and conduct examinations incidental to the
administration of its bankruptcy estate;

     (c) take actions necessary to the proper preservation and
administration of the Debtor's estate;

     (d) assist the Debtor in the preparation and filing of its
statements of financial affairs and schedules;

     (e) take whatever action is necessary with reference to the
use by the Debtor of its property pledged as collateral;

     (f) prosecute claims asserted by the Debtor; and

     (g) assist the Debtor in connection with claims for taxes made
by governmental units.

The firm's hourly rates are:

     Attorney              $235 - $525
     Paralegals               $135
     Research Assistants      $135

Stone & Baxter received an initial deposit of $50,000.  

Matthew Cathey, Esq., a partner at Stone & Baxter, disclosed in
court filings that the firm and its attorneys neither hold nor
represent any interest adverse to the Debtor and its estate.

The firm can be reached through:

     Matthew S. Cathey, Esq.
     Ward Stone, Jr., Esq.
     Stone & Baxter, LLP
     577 Mulberry Street, Suite 800
     Macon, GA 31201
     Tel: 478-750-9898
     Fax: 478-750-9899
     Email: mcathey@stoneandbaxter.com
            wstone@stoneandbaxter.com

        - and -

     Gregory D. Taylor, Esq.
     Stone & Baxter, LLP
     Fickling & Co. Building, Suite 800
     577 Mulberry Street
     Macon, GA 31201
     Tel: 478-750-9898
     Fax: 478-750-9899
     E-mail: dtaylor@stoneandbaxter.com

                     About Thrush Aircraft

Headquartered in Albany, Ga., Thrush Aircraft, Inc., manufactures a
full range of aerial application aircraft used in agriculture,
forestry, and firefighting roles.  There are currently more than
2,400 Thrush aircraft operating in some 80 countries around the
world.  The company was founded in 2003.

Thrush Aircraft sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Ga. Case No. 19-10976) on Sept. 4,
2019.  At the time of the filing, the Debtor disclosed assets of
between $10 million and $50 million and liabilities of the same
range.


THRUSH AIRCRAFT: U.S. Trustee Forms 3-Member Committee
------------------------------------------------------
The Office of the U.S. Trustee on Sept. 16 appointed three
creditors to serve on the official committee of unsecured creditors
in the Chapter 11 case of Thrush Aircraft, Inc.

The committee members are:

     (1) Texas Transland, LLC dba Transland
         1206 Hatton Road, Suite A
         Wichita Falls, TX 76302
         (940) 636-7963
         Attn: James B. Frank
         jfrank@sharpirongroup.com

     (2) Grant Thornton, LLP
         757 Third Avenue, 2nd Floor
         New York, NY 10017
         (617) 290-2449
         Attn: Brian Bonaviri
         brian.bonaviri@us.gt.com

     (3) Oxford Global Resources, LLC
         100 Cummings Center, Suite 206L
         Beverly, MA 01915
         (978) 538-1723
         Attn: Cheryl Keating
         Cheryl_Keating@Oxfordcorp.com
  
Official creditors' committees serve as fiduciaries to the general
population of creditors they represent.  They may investigate the
debtor's business and financial affairs. Committees have the right
to employ legal counsel, accountants and financial advisors at a
debtor's expense.

                       About Thrush Aircraft

Headquartered in Albany, Ga., Thrush Aircraft, Inc. manufactures a
full range of aerial application aircraft used in agriculture,
forestry, and firefighting roles.  There are currently more than
2,400 Thrush aircrafts operating in some 80 countries around the
world.  The company was founded in 2003.

Thrush Aircraft sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Ga. Case No. 19-10976) on Sept. 4,
2019.  At the time of the filing, the Debtor disclosed assets of
between $10 million and $50 million and liabilities of the same
range.


TOTAL HEALTH: May Use $420K in Cash Collateral, May Escrow Fees
---------------------------------------------------------------
Judge Phillip J. Shefferly of the U.S. Bankruptcy Court for the
Eastern District of Michigan, authorizes Total Health Systems,
Inc., to use cash collateral of up to $420,000, pending final
hearing, in order to maintain operations pursuant to the budget.  

As adequate protection, the Court grants replacement liens to
Center Line Chiropractic and Michigan Business Connection, LC, on
the Debtor's postpetition assets for any diminution in value of the
prepetition cash collateral.

The Court also authorizes the Debtor to escrow professional fees.
Final hearing is set for Oct. 4, 2019 at 11 a.m.

                  About Total Health Systems

Total Health Systems, Inc. -- https://www.totalhealthsystems.com/
-- is a full-service wellness center that provides traditional
medical services, chiropractic, physical therapy, massage therapy,
one-on-one personal training, physician supervised weight loss,
nutrition, and wellness services.

Total Health Systems filed a petition for relief under Chapter 11
of the Bankruptcy Code (Bankr. E.D. Mich. Case No. 19-52723) on
Sept. 5, 2019, in Detroit, Michigan.  In the petition signed by CFO
Terrence Gallagher, the Debtor estimated assets of no more than
$50,000 and liabilities between $1 million and $10 million.  Judge
Hon. Phillip J. Shefferly oversees the case.  STEVENSON & BULLOCK,
P.L.C., is the Debtor's bankruptcy counsel.



TOTAL HEALTH: Taps Stevenson & Bullock as Legal Counsel
-------------------------------------------------------
Total Health Systems, Inc., received approval from the U.S.
Bankruptcy Court for the Eastern District of Michigan to hire
Stevenson & Bullock, P.L.C. as its legal counsel.

The firm will provide services in connection with the Debtor's
Chapter 11 case, which include legal advice regarding its powers
and duties under the Bankruptcy Code and representation in
negotiations.

Stevenson & Bullock received $7,000 for pre-bankruptcy fees and
expenses, of which $1,717 was used to pay the filing fee.

Elliot Crowder, Esq., at Stevenson & Bullock, disclosed in court
filings that he and his firm are "disinterested" within the meaning
of Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Elliot G. Crowder, Esq.
     Stevenson & Bullock, P.L.C.
     26100 American Drive, Suite 500
     Southfield, MI 48034
     Tel: 248-354-7906
     Email: ecrowder@sbplclaw.com

        - and -

     Ernest Hassan, Esq.
     Stevenson & Bullock, P.L.C.
     26100 American Drive, Suite 500
     Southfield, MI 48034
     Tel: (248) 354-7906
     Fax: (248) 354-7907
     Email: ehassan@sbplclaw.com

                    About Total Health Systems

Total Health Systems, Inc. -- https://www.totalhealthsystems.com/
-- is a full-service wellness center that provides traditional
medical services, chiropractic, physical therapy, massage therapy,
one-on-one personal training, physician supervised weight loss,
nutrition, and wellness services.

Total Health Systems filed a petition (Bankr. E.D. Mich. Case No.
19-52723) under Chapter 11 of the Bankruptcy Code on Sept. 5, 2019,
in Detroit, Michigan.  In the petition signed by CFO Terrence
Gallagher, the Debtor estimated assets of no more than $50,000 and
liabilities between $1 million and $10 million.   Judge Phillip J.
Shefferly oversees the case.  Stevenson & Bullock, P.L.C., is the
Debtor's bankruptcy counsel.


TRESHA-MOB LLC: Court Confirms 2nd Amended Plan
-----------------------------------------------
The Bankruptcy Court has confirmed Tresha-Mob, LLC's Second Amended
Chapter 11 Plan of Reorganization.

Under the Second Amended Plan, Class 4: Non-Insider Creditors
Holding Allowed Unsecured Claims are unimpaired. Class 4 Creditors
their respective pro rata share of the remaining sale proceeds in
order to partially or fully satisfy the Class 4Creditor’s Allowed
Claims. Each Class 4 Creditor shall be paid pursuant to this
Section as its Claim is Allowed.  Class 5: Insiders Holding Allowed
Unsecured Claims are unimpaired. Class 5 Creditors their respective
pro rata share of the remaining sale proceeds in order to partially
or fully satisfy the Class 5 Creditor’s Allowed Claims. Each
Class 5 Creditor shall be paid pursuant to this Section as its
Claim is Allowed.  The distributions and payments provided for in
the Plan shall be funded by the Debtor's cash on hand at
Confirmation and the proceeds from the sale of the Debtor’s
remaining assets as transferred to the Plan Trust.

A full-text copy of the Second Amended Disclosure Statement dated
September 13, 2019, is available at https://tinyurl.com/y4svxntz
from PacerMonitor.com at no charge.

Attorney for Debtor:

     William B. Kingman, Esq.
     Law Offices of William B. Kingman, P.C.
     3511 Broadway
     San Antonio, Texas 78209

        --  and --

     Eric B. Terry, Esq.
     Eric Terry Law, PLLC
     3511 Broadway
     San Antonio, Texas 78209

                    About Tresha-Mob

Tresha-MOB, LLC, is a lessor of real estate based in Chicago,
Illinois, whose principal assets are located at 9618 Huebner Road
San Antonio, TX 78240.

Tresha-MOB filed a Chapter 11 petition (Bankr. W.D. Tex. Case No.
18-52420) on Oct. 10, 2018.  In the petition signed by Michael
Horrell, Voltaire Asset Managers II, LLC, manager of Tresha-MOB
LLC, the Debtor estimated assets and liabilities of $10 million to
$50 million. Eric Terry Law, PLLC, is the Debtor's counsel.


TRIPLE POINT: S&P Puts CCC ICR on Watch Pos. on OpenLink Merger
---------------------------------------------------------------
S&P Global Ratings placed its 'CCC' issuer credit rating on
commodity management software and solutions provider Triple Point
Group Holdings Inc. on CreditWatch with positive implications,
reflecting the greater operating scale and incremental cash flows
as a result of the combination.

The CreditWatch placement follows ION Investment Group's
announcement that it intends to combine Wall Street Systems
Holdings, OpenLink International Holdings, and Triple Point
Holdings to form ION Corporate Solutions Finance Ltd. The $1.75
billion first-lien term loan and $180 million of equity raised at
ION Corporate will be used to repay the existing debt of the three
entities.

S&P will resolve the CreditWatch once the merger closes or when all
of Triple Point's outstanding debt is repaid, at which time it
expects to withdraw all of its ratings on Triple Point.


UBER TECHNOLOGIES: S&P Rates Unsec. Notes for Careem Deal 'CCC+'
----------------------------------------------------------------
S&P Global Ratings affirmed its 'B-' rating on
transportation-as-a-service provider Uber Technologies Inc., and
assigned a 'CCC+' issue-level rating with a '5' recovery rating to
the $750 million of unsecured notes that the company plans to issue
for general corporate purposes, including the payment of a portion
of the purchase price in connection with the pending acquisition of
Careem.

S&P said, "We are assigning a 'CCC+' issue-level rating with a '5'
recovery rating to the proposed notes, the same as the ratings on
Uber's existing unsecured notes. This development is neutral to our
view of the company's credit profile because we treat the Careem
convertible notes (which will have principal up to $1.7 billion
subject to indemnification claims and regulatory approvals, and a
90 day maturity) as debt in our analysis, and we had accounted for
the risk that Uber's share price would remain below the conversion
price of $55 per share. Uber expects the transaction to close in
January 2020."

"The stable outlook on Uber reflects our view that it has multiple
sources of liquidity, including its balance sheet cash, revolver,
equity investments, capacity to sell minority stakes in certain
assets, and access to the capital markets. The company also has the
flexibility to pare back its discretionary investments in Uber
Eats, autonomous driving, and New Mobility."

"We could raise our rating on Uber if its shows progress toward
generating enough profit from ridesharing to cover its unallocated
corporate expenses, which would demonstrate the segment's
sustainability, while maintaining robust liquidity and narrowing
the losses in its Uber Eats business."

"We could lower our rating on Uber over the next 12 months if we
come to view its capital structure as unsustainable, which could
occur if it fails to improve the profitability of its ridesharing
business because of continued stiff competition or regulatory
actions. We could also lower the rating if the sum of the company's
unrestricted cash and revolver capacity falls below its expected
negative cash flow for the next year (likely $2 billion-$3 billion
by the end of 2020) without a plan to raise more capital or pare
back its investments."


UBIOME INC: U.S. Trustee Forms 3-Member Committee
-------------------------------------------------
Andrew Vara, acting U.S. trustee for Region 3, on Sept. 16
appointed three creditors to serve on the official committee of
unsecured creditors in the Chapter 11 case of uBiome, Inc.

The committee members are:

     (1) Bioquimica.cl S.A.
         Attn: Matias Gutierrez Mostafa
         Presidente Jose Battle Ordonez y Ordofez, 3745
         Nunoa Santiago 7790605
         Chile
         Phone: 415-849-5962   

     (2) Ecare India Private Limited
         Attn: Deepak Sanghi
         B.R. Complex, 2nd Floor
         27-28 Woods Rd., Chennai 600002
         India
         Phone: 813-666-0028   

     (3) Blue Cross Blue Shield Association
         Attn: Brendan Stuhan
         1310 G St. NW  
         Washington, DC 20005
         Phone: 202-942-1069
  
Official creditors' committees serve as fiduciaries to the general
population of creditors they represent.  They may investigate the
debtor's business and financial affairs. Committees have the right
to employ legal counsel, accountants and financial advisors at a
debtor's expense.

                            uBiome Inc.

uBiome, Inc. -- https://ubiome.com/ -- is a microbial genomics
company founded in 2012.  uBiome combines its patented proprietary
precision sequencing with machine learning and artificial
intelligence to develop wellness products, clinical tests, and
therapeutic targets.  uBiome has filed for over 250 patents on its
technology, which includes sample preparation, computational
analysis, molecular techniques, as well as diagnostic and
therapeutic applications.  uBiome and its non-debtor foreign
affiliates currently employ approximately 100 individuals, of which
35 are located in the United States, 37 in Chile, and 28 in
Argentina.

On Sept. 4, 2019, uBiome, Inc., sought Chapter 11 protection
(Bankr. D. Del. Case No. 19-11938).

The Debtor estimated assets of $50 million to $100 million and
liabilities of $10 million to $50 million.

The Hon. Laurie Selber Silverstein is the case judge.

The Debtor tapped Young, Conaway, Stargat & Taylor, LLP as counsel;
Goldin Associates, LLC, as restructuring advisor; GLC Advisors &
Co., LLC and GCLA Securities LLC as investment banker. Donlin
Recano & Company, Inc., is the claims agent.


USA DRILLING: Taps Harlin Parker as Legal Counsel
-------------------------------------------------
U.S.A. Drilling Company, Inc., received approval from the U.S.
Bankruptcy Court for the Western District of Kentucky to hire
Harlin Parker Attorneys at Law as its legal counsel.

The firm will provide services in connection with the Debtor's
Chapter 11 case, which include legal advice regarding its powers
and duties under the Bankruptcy Code and the preparation of a
bankruptcy plan.

Harlin Parker received a retainer in the sum of $3,000, of which
$950 was used for pre-bankruptcy services and $1,717 for the filing
fee.

Robert Chaudoin, Esq., at Harlin Parker, disclosed in court filings
that the firm is "disinterested" within the meaning of Section
101(14) of the Bankruptcy Code.

The firm can be reached through:

     Robert C. Chaudoin, Esq.
     Harlin Parker Attorneys at Law
     519 East 10th Avenue
     Bowling Green, KY 42101
     Phone: 270-842-5611
     Fax: 270-842-2607
     Email: chaudoin@harlinparker.com

                  About U.S.A. Drilling Company
  
U.S.A. Drilling Company, Inc. sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. W.D. Ky. Case No. 19-10825) on Aug. 8,
2019.  At the time of the filing, U.S.A. Drilling was estimated to
have assets of less than $50,000 and liabilities of less than
$500,000.  The case has been assigned to Judge Joan A. Lloyd.
U.S.A. Drilling is represented by Robert C. Chaudoin, Esq., at
Harlin Parker.


VALADOR INC: Unsecureds to Get 60 Monthly Distribution of $8,500
-----------------------------------------------------------------
Valador, Inc., filed a Chapter 11 plan and accompanying disclosure
statement.

Class 5: Unsecured claims are impaired. The Class 5 claimants shall
receive a monthly pro rata distribution of $8,500, beginning with
the month the Class 3 claimant is paid in full and continuing for
the remainder of 60 months from the month following the effective
date of the Plan. Payments to Class 5 claimants shall be
consecutively with payments to Class 2 claimants.

Class 2: All non-administrative priority claims are impaired. The
debtor is not aware that any such claims, aside from the recently
discovered claim of the District of Columbia. These claims are to
be paid in full contemporaneously with any pro rata distribution
the Class 5 creditors with 4.5% per annum simple interest.

Class 3: Essex Bank are impaired. Shall be paid in full with its
contract interest rate in sixty consecutive monthly installments of
$15,000.00 beginning on the month following the effective date of
the Plan. In addition, the following payments are to be made be to
the Class 3 claimant: The debtor's principal, Kevin Mabie shall pay
to the claimant $400,000.00, within ten months from the effective
date of the Plan. Any recovery from the debtor's claim against
Douglas E. Kahle and Wolcott Rivers Gates, less expenses and such
attorney's fees as the Court may authorize, shall be paid to Essex
Bank.

Class 4: Wells Fargo Vendor Financial Services are impaired. The
debtor's principal, Kevin Mabie, shall undertake to assure that all
contract payments are made on this claim from funds not belonging
to the debtor. The Class 4 Claimant shall have the right to
repossess its collateral if the contract payments are not current
at any time after the effective date of the Plan.

Class 6: The Class 6 claimants shall receive no distribution under
the Plan.

Class 7: The Class 7 claimants shall retain their equity security
interests subject to the payment required by the debtor's
principal, Kevin Mabie and Class 3 (a) of the Plan.

A full-text copy of the Disclosure Statement dated September 13,
2019, is available at https://tinyurl.com/y6llhdtq from
PacerMonitor.com at no charge.

                    About Valador Inc.

Headquartered in Herndon, Virginia, Valador, Inc., is a business
that delivers solutions for collecting, maintaining, visualizing,
and protecting its clients' information.  It focuses on four key
business areas: modeling and simulation, information assurance,
management consulting, and software engineering.  It employs
innovative solutions such as the use of 3D immersive visualization
to address its clients' complex challenges including decision
support, strategic planning, risk management, safety and
reliability, assessment of alternatives, and information security.

Valador sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. E.D. Va. Case No. 18-14168) on Dec. 13, 2018.  At the time
of the filing, the Debtor estimated assets of less than $50,000 and
liabilities of $1 million to $10 million.  The case is assigned to
Judge Klinette H. Kindred.  Richard Hall, Esq., is the Debtor's
legal counsel.


VERDICORP INC: U.S. Trustee Unable to Appoint Committee
-------------------------------------------------------
The U.S. Trustee, until further notice, will not appoint an
official committee of unsecured creditors in the Chapter 11 case of
Verdicorp, Inc., according to court dockets.
    
                       About Verdicorp Inc.

Verdicorp Inc. -- http://www.verdicorp.com/-- is an innovation
company formed in 2009.  Its areas of interest include heating,
ventilation and air-conditioning (HVAC), energy generation,
recovery and storage systems, and water desalination, treatment and
pumping.

Verdicorp sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. N.D. Fla. Case No. 19-40427) on Aug. 14, 2019.  At the time
of the filing, the Debtor had estimated assets of between $500,000
and $1 million and liabilities of between $10 million and $50
million.  
  
The case has been assigned to Judge Karen K. Specie.  The Debtor is
represented by Michael H. Moody Law Firm PLLC.


VILLAS OF WINDMILL: U.S. Trustee Unable to Appoint Committee
------------------------------------------------------------
The U.S. Trustee, until further notice, will not appoint an
official committee of unsecured creditors in the Chapter 11 case of
Villas of Windmill Point II Property Owners Association, Inc.,
according to court dockets.

            About Villas of Windmill Point II Property

Based in Port Saint Lucie, Florida, Villas of Windmill Point II
Property Owners Association, Inc. is a non-profit corporation with
volunteers that self manages 89 separately deeded, single family
residential villa units that are attached in 4 and 5 unit clusters
within a PUD (Planned Unit Development) of 9 acres as a Deed
Restricted Community with Governing Documents that partially
include a Declaration of Covenants and Restrictions, running with
the land.

Villas of Windmill filed a Chapter 11 petition (Bankr. S.D. Fla.
19-20400) on August 2, 2019.  At the time of filing, the Debtor
estimated $1 million to $10 million in assets and $1 million to $10
million in liabilities.

The Debtor is represented by Brian K. McMahon, Esq., in West Palm
Beach, Fla.

Leslie S. Osborne was appointed as the Debtor's Chapter 11 trustee.
The trustee is represented by Rappaport Osborne Rappaport.


VISTRA ENERGY: Fitch Affirms BB IDR & Alters Outlook to Positive
----------------------------------------------------------------
Fitch Ratings affirmed the Long-Term Issuer Default Rating of
Vistra Energy Corp. and its indirect subsidiary, Vistra Operations
Company LLC at 'BB'. Fitch has also affirmed the 'BBB-'/'RR1'
rating of Vistra Operations' first lien senior secured debt and
'BB'/'RR4' rating of both the senior unsecured guaranteed notes at
Vistra and senior unsecured notes at Vistra Operations. The 'RR1'
Recovery Rating denotes superior recovery and 'RR4' denotes average
recovery in the event of default. The Rating Outlook has been
revised to Positive from Stable.

Vistra's IDR reflects the company's uniquely positioned business
model within the competitive energy sector as the largest
non-regulated power generation company and one of the largest
retail electricity providers, the ability to generate stable level
of cash flows in adverse commodity environments and strong FCF
generation. The Positive Outlook reflects continued management
execution on improving its business and financial risk profile. The
recent completed and announced retail acquisitions further
strengthen Vistra's integrated business model, significantly
improving generation load match, a credit positive. Management
remains committed to achieving investment-grade ratings with a goal
to deleverage to 2.5x net debt to EBITDA. With retail acquisitions
consuming a large part of FCF in 2019, Fitch expects management to
prioritize debt reduction in 2020-2021 to achieve this goal.

KEY RATING DRIVERS

Large Scale and Diversity: Fitch favorably views Vistra's
generation portfolio with approximately 41 gigawatts (GW) of
installed capacity that is well diversified with respect to fuel
and geography. The acquisition of Dynegy diversified Vistra's fleet
away from Texas, which, while exhibiting a favorable demand-supply
dynamic, lacks the additional revenue support that capacity markets
provide in other regions, such as PJM Interconnection and New
England. Dynegy's combined-cycle gas turbine fleet increased the
combined entity's natural gas share of generation to 52% from 36%,
thereby lowering the overall fleet's sensitivity to natural gas
prices.

Progress on Integrated Model: The combination with Dynegy
significantly increases Vistra's long generation position, and in
this regard, Fitch views favorably management's strategic goal to
grow its retail presence both within and outside Texas. Fitch views
retail as a high-margin business that offers an effective sales
channel and a partial hedge for wholesale generation. Retail
margins in the commercial and industrial segment generally remained
range-bound during commodity cycles, and residential retail margins
are usually countercyclical, given the length and stickiness of the
customer contracts. TXU Energy, Vistra's largest retail electricity
operation in Texas, has demonstrated strong brand recognition,
tailored customer offerings and effective customer service, which
are driving high customer retention.

In July, Vistra completed the acquisition of Crius Energy Trust,
which expands Vistra's geographic footprint in the Midwest and
Northeast in the high margin residential and small business
customer segments. In August, Vistra announced that it had reached
an agreement to acquire Ambit Energy, which via its direct selling
platform and focus on residential and small business customers
enhances Vistra's competitive position in Texas. As a result of
these acquisitions Vistra expects its generation load match to
increase to 58% versus its long-term goal of 60%-70%.

Stable EBITDA Generation: Fitch believes the company should be able
to deliver adjusted EBITDA within management's guidance ranges of
$3.22 billion-$3.42 billion in 2019. Backwardation in ERCOT
commodity curves, weakness year to date in PJM energy prices and
ongoing uncertainty surrounding PJM capacity auction continue to
weigh on generation EBITDA, in particular in 2021 and beyond when
the company is less hedged. However, realization of synergy
benefits from Dynegy acquisition, O&M cost control, closure of
uneconomic coal-fired generation capacity in Illinois, and retail
acquisitions should significantly offset the drag from declining
capacity revenues and backwardation in commodity curves in 2020 and
2021, in Fitch's view.

FCF Supports Deleveraging: Fitch expects Vistra to generate FCF of
$1.8 billion-$2.0 billion in 2019 and beyond, prior to return of
capital to shareholders. Capex is largely attributable to
maintenance items for the generation assets and is projected to be
approximately $550 million annually. The retail business generates
a substantial amount of FCF given modest capex requirements.
Management appears committed to its 2.5x net debt to EBITDA (or
2.7x gross debt/EBITDA) target. In 2018, Vistra's board authorized
a $1.75 billion share repurchase program, of which $1.29 billion
has been completed as of July 25, 2019. With retail acquisitions
consuming a large part of FCF in 2019, Fitch expects management to
prioritize debt reduction in 2020-2021 to achieve this goal.

Transition to Investment Grade: Management appears committed to an
investment-grade rating and the June issuance of $2 billion of
senior secured notes at Vistra Operations with a security fall away
provision marks a first step toward aligning the capital structure
with that of an investment-grade entity. Currently, more than 50%
of Vistra's consolidated capital structure consists of secured
debt. Fitch would expect this proportion to be lower before the IDR
can be migrated to investment grade.

Mixed Power Market Developments: ERCOT continues to demonstrate
favorable demand supply characteristics. With electricity demand in
the region projected to continue its strong growth, the reserve
margins are expected to fall to 10.5% for summer 2020, rise to 15%
in 2021 and fall to 10% in 2023 and 8% in 2024 (below ERCOT's
13.75% threshold), as per ERCOT's May 2019 Capacity, Demand and
Reserves report. This is expected to put upward pressure on power
prices. However, forward curves remain backwardated and scarcity
premiums remain leveraged to summer weather, wind performance
during peak hours and Operating Reserve Demand Curve (ORDC)
parameters. As a result, the power prices are still below the
levels needed to incentivize new gas fired build.

Power prices in PJM have declined this year given mild weather,
surplus reserve margins and weakness in natural gas prices. While
uncertainty on capacity reforms continues to persist, PJM continue
to push for solutions that will potentially help mitigate issues
associated with state sponsored subsidies for specific types of
power generation.

Long-Term Headwinds to Margin Growth: The competitive markets
continue to face structural imbalances brought on by the onslaught
of renewables and the growth in supply of efficient natural
gas-fired plants in certain markets, due to extremely low natural
gas prices, even as power demand growth remains flat to down in
most markets, excluding ERCOT. State intervention to save
struggling nuclear plants via subsidies has the potential to skew
market price-setting mechanisms. Rapid advancements in battery
storage technologies also have the potential to accelerate the
generation mix shift away from fossil fuel power plants, leading to
long-term uncertainty for merchant generation business models.
Given the uncertain long-term backdrop, Fitch views management's
strategic initiatives to grow its retail presence, rationalize
generation capacity in markets such as the Midwest and California,
and start focusing on renewables and battery storage as positive.

DERIVATION SUMMARY

Vistra is well positioned relative to Calpine Corporation
(B+/Stable), Exelon Generation (ExGen; BBB/Stable) and PSEG Power
(BBB+/Stable) in terms of size, scale and geographic and fuel
diversity. Vistra is the largest independent power producer in the
country with approximately 41 GW of generation capacity compared to
Calpine's 26 GW, ExGen's 33 GW and PSEG Power's 12 GW. Vistra's
generation capacity is well diversified by fuel compared with
Calpine's natural gas heavy and ExGen's nuclear heavy portfolio.
Similarly, Vistra's portfolio is well diversified geographically as
compared with the Northeast dominant portfolio of ExGen and PSEG
Power. Both Vistra and ExGen benefit from their ownership of large
retail electricity businesses, which are typically countercyclical
to wholesale generation given the length and stickiness of customer
contracts. Vistra has a dominant position in the mass retail market
in Texas, which has generated stable EBITDA over 2012-2018 despite
power price volatility.

A key benefit of acquiring Dynegy has been the drop in sensitivity
of Vistra's EBITDA to changes in natural gas prices and heat rates.
Fitch projects Vistra's gross debt/EBITDA at 2.7x by 2021, which
compares favorably with Calpine's projected mid to high 4.0x
leverage by 2022. Exgen's gross debt/EBITDA is projected to trend
down to 3.0x or below over the next few years. For PSEG Power,
debt/EBITDA is expected to decline to less than 2.5x by 2020. The
ratings of both ExGen and PSEG Power benefit considerably from
their ownership by a utility holding company.

KEY ASSUMPTIONS

Fitch's Key Assumptions Within Its Rating Case for Vistra Energy
include:

  -- Estimated generation of 198 TWHs in 2019 and 190 TWHs in 2020
and 2021;

  -- Hedged generation in 2019 and 2020 per management's guidance
and largely open in 2021;

  -- Retail load of approximately 115 TWHs;

  -- Power price assumption based on Fitch's base deck for natural
gas prices of $2.75/MMBtu in 2019 and beyond and current market
heat rates;

  -- Capacity revenues per past auction results;

  -- Synergies of $400 million realized in 2019 and $500 million in
2020;

  -- Maintenance capex of approximately $550 million p.a.;

  -- Deleveraging in 2019-2021 to reach 2.7x gross debt/EBITDA
target in 2021;

  -- No new generation contemplated after the 180 MW Upton solar
plant is complete;

  -- Includes Moss Landing battery project;

  -- Includes acquisitions of Crius Energy and Ambit Energy and
retirement of 2.6 GW of Illinois coal plants by year end 2022.

RATING SENSITIVITIES

Developments That May, Individually or Collectively, Lead to
Positive Rating Action

- Execution of deleveraging as per management's stated goal such
that gross debt to EBITDA is below 3.0x on a sustainable basis;

  - Track record of stable EBITDA generation;

  - Measured approach to growth;

  - Balanced allocation of FCF that maintains balance sheet
flexibility while maintaining leverage within stated goal.

Developments That May, Individually or Collectively, Lead to
Negative Rating Action

  - Weaker power demand and/or higher-than-expected supply
depressing wholesale power prices and capacity auction outcomes in
its core regions;

  - Unfavorable changes in regulatory construct/rules in the
markets that Vistra operates in;

  - Rapid technological advancements and cost improvements in
battery and renewable technologies that accelerate the shift in
generation mix away from fossil fuels;

  - An aggressive growth strategy that diverts a significant
proportion of FCF toward merchant generation assets and/or
overpriced retail acquisitions;

  - Gross debt/EBITDA above 3.5x on a sustainable basis.

LIQUIDITY AND DEBT STRUCTURE

Adequate Liquidity: Fitch views Vistra's liquidity as adequate.
Vistra Ops currently has a $2.725 billion revolving credit facility
that matures in 2023, which includes a $2.35 billion LC
sub-facility. Approximately $552 million of LCs were outstanding as
of June 30, 2019, which reduces the available revolver capacity.
Vistra also has two alternate LC facilities in place with an
aggregate limit of $500 million. Of the total facility limit, $250
million matures in December 2020 and the balance in December 2021.
As of June 30, 2019, $500 million of LCs were outstanding under the
alternate LC facilities. As of June 30, 2019, Vistra had $964
million of unrestricted cash on hand. Fitch expects Vistra to
generate a sizable amount of FCF annually and maintain a minimum of
$400 million of cash on its balance sheet for working capital
purposes.

SUMMARY OF FINANCIAL ADJUSTMENTS

Fitch adjusts revenues and costs of sales contained in the
published financial statements for unrealized mark to market gains
and losses in order to arrive at adjusted EBITDA.


VSOP LLC: Court Approves Disclosure Statement
---------------------------------------------
The Disclosure Statement of VSOP, LLC, is approved.  November 6,
2019 AT 10:00 am is fixed for the hearing on confirmation of the
Plan to take place in Courtroom 2A of the U.S. Bankruptcy Court,
U.S. Courthouse, 101 West Lombard Street, Baltimore, Maryland
21201.
October 15, 2019, is fixed as the last day for filing and serving
written objections to confirmation of the Plan.

                      About VSOP, LLC

VSOP, LLC, based in Baltimore, MD, filed a Chapter 11 petition
(Bankr. D. Md. Case No. 19-15834) on April 30, 2019.  The Hon.
Michelle M. Harner oversees the case.  In the petition signed by
Steven Rivelis, member, the Debtor estimated $1 million to $10
million in both assets and liabilities.  Dennis J. Shaffer, Esq.,
at Whiteford Taylor & Preston, LLP, serves as bankruptcy counsel to
the Debtor.


W GRANT AVENUE: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: W Grant Avenue LLC
        5111 Avenue L
        Brooklyn, NY 11203

Case No.: 19-45593

Business Description: W Grant Avenue LLC owns in fee simple
                      a four-unit residential building located at
                      17 Grant Avenue Brooklyn, NY 11208 valued
                      by the Company at $1.2 million.

Chapter 11 Petition Date: September 18, 2019

Court: United States Bankruptcy Court
       Eastern District of New York (Brooklyn)

Judge: Hon. Carla E. Craig

Debtor's Counsel: Todd S. Cushner, Esq.
                  CUSHNER & ASSOCIATES, P.C.
                  399 Knollwood Road, Suite 205
                  White Plains, NY 10603
                  Tel: 914-600-5502
                  Fax: 914-600-5544
                  E-mail: todd@cushnerlegal.com

Total Assets: $1,225,950

Total Liabilities: $926,581

The petition was signed by Winston Ellis, CEO.

The Debtor stated it has no unsecured creditors.

A full-text copy of the petition is available for free at:

            http://bankrupt.com/misc/nyeb19-45593.pdf


WALL TO WALL: Taps HB Morris as Accountant
------------------------------------------
Wall to Wall Tile & Stone, LLC, received approval from the U.S.
Bankruptcy Court for the District of Oregon to hire HB Morris
Financial Services, LLC as its accountant.

The firm will prepare the company's 2018 S-Corp tax return and
schedule C for its affiliates Wall to Wall Tile & Stone-Oregon LLC
and Wall to Wall Tile & Stone-Idaho LLC.

Mike Day, the firm's accountant who will providing the services,
charges an hourly fee of $285.

Mr. Day disclosed in court filings that the firm does not have any
interest adverse to the interest of the bankruptcy estate,
creditors and equity security holders.

HB Morris can be reached through:

     Mike Day
     HB Morris Financial Services, LLC
     P.O. Box 2557
     Battle Ground, WA 98604
     Phone: (360) 687-3154
     Fax: (360) 687-6967

                 About Wall to Wall Tile & Stone

Based in Vancouver, Washington, Wall to Wall Tile & Stone, LLC --
http://walltowallcountertops.com/-- a granite and quartz stones
supplier, and two affiliates filed a voluntary Chapter 11 petitions
(Bankr. D. Oregon Lead Case No. 19-32600) on July 16, 2019.  At the
time of filing, Wall to Wall Tile & Stone's estimated assets and
liabilities were $10 million to $50 million.

The cases are assigned to Hon. David W. Hercher.

The Debtors are represented by Timothy J. Conway, Esq., Michael W.
Fletcher, Esq., Albert N. Kennedy, Esq., and Ava L. Schoen, Esq.,
at Tonkon Torp LLP, in Portland, Ore.

The U.S Trustee for Region 18 on July 26, 2019, appointed four
creditors to serve on the official committee of unsecured creditors
in the Chapter 11 cases.  The committee tapped Pachulski Stang
Ziehl & Jones LLP as its legal counsel, and Arch & Beam Global, LLC
as its financial advisor.


WEST VIRGINIA RESORTS: Gets Court Approval to Hire Realtor
----------------------------------------------------------
West Virginia Resorts, LLC, received approval from the U.S.
Bankruptcy Court for the Northern District of West Virginia to hire
Real Corp, LLC.

The firm will assist the Debtor in connection with the sale of its
real property in Ticker County, W.Va.

The firm has agreed to a broker fee of 6 percent.

Real Corp is "disinterested" within the meaning of Section 101(14)
of the Bankruptcy Code, according to court filings.

                    About West Virginia Resorts

West Virginia Resorts LLC, a privately held company in  Charleston,
W.Va., sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. N.D. W.Va. Case No. 19-00587) on July 18, 2019.  At the
time of the filing, the Debtor estimated assets of between $1
million and $10 million and liabilities of the same range.  The
case is assigned to Judge Patrick M. Flatley.  The Debtor is
represented by Caldwell & Riffee.


WEYERBACHER BREWING: Nov. 4 Plan Confirmation Hearing
-----------------------------------------------------
The Bankruptcy Court has issued an order granting Weyerbacher
Brewing Company, Inc.'s Motion to Approve the Second Amended
Disclosure Statement.  A hearing on confirmation of the plan of
reorganization will be held on November 4, 2019 at 10:30 AM.  

Class 1 Unsecured Claims are impaired. The Debtor proposes to pay a
total of $186,000.00 to the holders of Allowed general Unsecured
Claims. The Debtor shall make eight (8) monthly payments of
$2,000.00 followed by twelve (12) monthly payments of $6,667.00,
and, finally, twelve (12) monthly payments of $7,500.000. The
Disbursing Agent shall make a pro rata distribution to Unsecured
Creditors on the twelve (12) month anniversary of the Effective
Date, the twenty-fourth (24th) month anniversary of the Effective
Date, and, finally, on the thirty-second (32nd) month anniversary
or the Effective Date. The Debtor will make the first such payment
on the Effective Date.

Class 2 Interest Holders are impaired. Class 2 Claims consist of
the holders of interests in the Debtor. All existing membership
interests shall be canceled.

Class 3 Secured Claim of BB&T are impaired. Class 3 consists of the
secured claim of BB&T in the amount of $2,200,000.00. The Class 3
Claim is secured by the Debtor's equipment, receivables, brands,
intellectual property, recipes, and inventory. The Class 3 Secured
Claim will be paid based upon a fifteen (15) year principal
amortization with a five (5) year balloon. Interest will accrue,
pursuant to the Plan, at Prime plus 3% per annum. Beginning on the
Effective Date, the Debtor will make level payments of $21,664 per
month to BB&T which shall include principal and interest.

Class 4 Secured Claim of Midtown Resources LLC are impaired. Class
4 consists of the secured claim of Midtown in the amount of
$310,000.00 inclusive of interest. The collateral securing the
Class 4 Claim consists of the Debtor's equipment, receivables,
brands, intellectual property, recipes, and inventory. The Class 3
Secured Claim will be paid based upon a fifteen (15) year principal
amortization with a five (5) year balloon. Beginning on the
Effective Date, the Debtor will make level payments or $3,053.00
per month to Midtown which shall include principal and interest.

The Plan will be funded by ongoing operations of the Debtor,
carried out by existing management, and the continued efforts of
the Debtor and its management to maximize the Debtor's presence in
its marketplace while striving to keep overhead low as well as a
cash infusion of $50,000.00 from the following individuals and
entities in exchange for an aggregate 100% of the newly issued
membership interests in the Debtor: TWF Family Trust: 400 shares,
Lampe Trust: 400 shares, Stacie Slack: 25 shares, Brandon Nardella:
25 shares, Zane Miller: 25 shares, Matt Snyder: 25 shares, Karen
Mauer: 25 shares , Dan Weirbach: 25 shares, Susan Weirbach: 50
shares.

A full-text copy of the Second Amended Disclosure Statement dated
September 13, 2019, is available at https://tinyurl.com/yys6ooa8
from PacerMonitor.com at no charge.

Attorneys for the Debtor

     Albert A. Ciardi, III, Esq.
     Jennifer C. McEntce, Esq.
     CIARDI CIARDI & ASTIN
     One Commerce Square
     2005 Market Street, Suite 3500
     Philadelphia, PA 19103
     Telephone: (215) 557-3550
     Facsimile: (215) 557-3551
     Email: aciardi@ciardilaw.com
            jcranston@ciardilaw.com

             About Weyerbacher Brewing Co.

Weyerbacher Brewing Company, Inc., sought protection under Chapter
11 of the Bankruptcy Code (Bankr. E.D. Pa. Case No. 19-12558) on
April 22, 2019.  At the time of the filing, the Debtor estimated
assets of between $1 million and $10 million and liabilities of
between $1 million and $10 million.

The case is assigned to Judge Richard E. Fehling.

Ciardi Ciardi & Astin, P.C., is the Debtor's counsel. Andrew Vara,
acting U.S. trustee for Region 3, appointed a committee of
unsecured creditors on May 8, 2019.  The Committee retained Elliot
Greenleaf, P.C., and  Loeb & Loeb LLP, as co-counsel.


WHITE'S PLACE: U.S. Trustee Unable to Appoint Committee
-------------------------------------------------------
The U.S. Trustee, until further notice, will not appoint an
official committee of unsecured creditors in the Chapter 11 case of
White's Place, LLC, according to court dockets.
    
                     About White's Place

White's Place, LLC filed a Chapter 11 bankruptcy petition (Bankr.
M.D. Fla. Case No. 19-07777) on Aug. 16, 2019, disclosing under $1
million in both assets and liabilities.  The case is assigned to
Judge Catherine Peek Mcewen.  The Debtor is represented by David S.
Jennis, Esq., at Jennis Law Firm.


WINDSTREAM HOLDINGS: Troutman Sanders Represents Ad Hoc EMC Group
-----------------------------------------------------------------
In the Chapter 11 cases of Windstream Holdings, Inc., et al., the
law firm of Troutman Sanders LLP submitted a supplemental statement
pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure
to provide an updated list of members of the Ad Hoc EMC Group.

In July 2019, the Ad Hoc EMC Group engaged Troutman to represent it
in connection with the Debtors' bankruptcy cases.

The pertinent facts and circumstances in connection with the
employment of Troutman is that each member of the Ad Hoc EMC Group
has requested Troutman to serve as its counsel in connection with
these Chapter 11 cases.  Each member is aware of, and has consented
to the simultaneous representation of, each other member by
Troutman in these Chapter 11 cases.

As of Sept. 12, 2019, the Ad Hoc EMC Group Members and their
disclosable economic interests are:

(1) Amicalola Electric Membership Corporation

    * Windstream Holdings, Inc.: $621,500.94
    * Georgia Windstream, LLC: $621,500.94
    * Windstream Communications, LLC: $621,500.94
    * Windstream Services, LLC: $621,500.94

(2) Blue Ridge Mountain Electric Membership Corporation

    * Windstream Holdings, Inc.: $317,739.09
    * Windstream Services, LLC: $317,739.09
    * Windstream Standard, LLC: $317,739.09
    * Teleview, LLC: $317,739.09

(3) Flint Energies

    * Windstream Holdings, Inc.: $275,341.69
    * Georgia Windstream, LLC: $275,341.69
    * Windstream Services, LLC: $275,341.69
    * Teleview, LLC: $275,341.69

(4) Hart Electric Membership Corporation

    * Windstream Holdings, Inc.: $431,752.30
    * Georgia Windstream, LLC: $431,752.30
    * Windstream Georgia, LLC: $431,752.30
    * Windstream Services, LLC: $431,752.30

(5) North Georgia Electric Membership Corporation

    * Windstream Holdings, Inc.: $1,495,145.24
    * Windstream Georgia Communications, LLC: $1,495,145.24
    * Windstream Services, LLC: $1,495,145.24
    * Windstream Holdings, Inc.: $70,197.50
    * Windstream Georgia Communications, LLC: $70,197.50
    * Windstream Services, LLC: $70,197.50

(6) Upson Electric Membership Corporation

    * Windstream Holdings, Inc.: $70,329.05
    * Windstream Georgia Communications, LLC: $70,329.05
    * Windstream Services, LLC: $70,329.05

Counsel for the Ad Hoc EMC Group can be reached at:

          TROUTMAN SANDERS LLP
          Hugh M. McDonald, Esq.
          Jonathan D. Forstot, Esq.
          875 Third Avenue
          New York, NY 10022
          Tel.:(212) 704-6281
          Fax: (212) 704-6288

A copy of the Rule 2019 filing, downloaded from PacerMonitor.com,
is available at https://is.gd/fz70WB

                    About Windstream Holdings

Windstream Holdings, Inc. and its subsidiaries provide advanced
network communications and technology solutions for businesses
across the United States.  They also offer broadband, entertainment
and security solutions to consumers and small businesses primarily
in rural areas in 18 states.

Windstream Holding Inc. and its subsidiaries filed for bankruptcy
protection (Bankr. S.D.N.Y. Lead Case No. 19-22312) on Feb. 25,
2019.

The Debtors had total assets of $13,126,435,000 and total debt of
$11,199,070,000 as of Jan. 31, 2019.

The Debtors tapped Kirkland & Ellis LLP and Kirkland & Ellis
International LLP as counsel; PJT Partners LP as financial advisor
and investment banker; Alvarez & Marsal North America LLC as
restructuring advisor; and Kurtzman Carson Consultants as notice
and claims agent.

The U.S. Trustee for Region 2 appointed an official committee of
unsecured creditors on March 12, 2019.  The committee tapped
Morrison & Foerster LLP as its legal counsel, AlixPartners, LLP as
its financial advisor, and Perella Weinberg Partners LP as
investment banker.


WISE ENTERPRISE: Bank Seeks to Hinder Debtor Access to Cash
-----------------------------------------------------------
Synovus Bank asks the U.S. Bankruptcy Court for the Northern
District of Georgia to prohibit Wise Enterprise Group, LLC from
using cash collateral.  The Bank says that the Debtor's 2019 rental
income appears to be substantially less than the rental income in
2017 and 2018.

David C. Whitridge, Esq., at Thompson, O'Brien, Kemp, Nasuti, P.C.,
counsel to Synovus Bank says that tenant's failure to pay rent
would mean a lack of adequate protection to Synovus.  

Synovus Bank proposes that should the Debtor's tenants be unable to
pay the necessary rent, the Debtor should seek to terminate any
existing lease and secure a new tenant.  The Bank is seeking
adequate protection payments for its interest.   
  
The Court will consider the request on Oct. 8, 2019 at 9:25 a.m.

                   About Wise Enterprise Group

Wise Enterprise Group LLC, an investment holding company in
Cartersville, Ga., sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Ga. Case No. 19-41786) on Aug. 2,
2019.  At the time of the filing, the Debtor disclosed assets of
between $1 million and $10 million and liabilities of the same
range.  The case has been assigned to Judge Paul W. Bonapfel.  The
Debtor is represented by Theodore N. Stapleton, P.C.




WOODSTOCK REALTY: Seeks Interim Cash Access Thru Sept. 30
---------------------------------------------------------
The U.S. Bankruptcy Court for the District of Connecticut
authorizes Woodstock Realty, LLC, to use cash collateral of up to
$10,000 in the ordinary course of its business, on an interim
basis, for the period from Sept. 3 through Sept. 30, 2019.

As adequate protection, TD Bank, N.A., will be granted replacement
liens in all of the Debtor's property for the amount of diminution
in the collateral.  A hearing on the Debtor's motion is scheduled
on Oct. 8, 2019 at 2 p.m.  

                      About Woodstock Realty

Woodstock Realty, LLC, filed a Chapter 11 bankruptcy petition
(Bankr. D. Conn. Case No. 19-20916) on May 29, 2019.  The Debtor is
estimated to have under $1 million in both assets and liabilities.
Gregory F. Arcaro, Esq., Grafstein & Arcaro, is counsel to the
Debtor.



WORLDPAY INC: Egan-Jones Withdraws BB Sr. Unsec. Ratings
--------------------------------------------------------
Egan-Jones Ratings Company, on September 9, 2019, withdrew its 'BB'
foreign currency and local currency senior unsecured ratings on
debt issued by Worldpay Incorporated.

Worldpay, Incorporated is an American payment processing company
and technology provider headquartered in the greater Cincinnati,
Ohio area. Formerly Vantiv, Worldpay is the largest U.S. merchant
acquirer ranked by general purpose transaction volume.



XTL INC: U.S. Trustee Forms 5-Member Committee
----------------------------------------------
Andrew Vara, acting U.S. trustee for Region 3, on Sept. 18
appointed five creditors to serve on the official committee of
unsecured creditors in the Chapter 11 cases of XTL-Inc. and XTL-PA,
Inc.

The committee members are:

     (1) Material Hauling Supply, Inc.
         6965 Airport Highway Lane
         Pennsauken, NJ 08109
         Attn: David J. Brown, CFO  
         Phone: (856) 541-1290
         Fax: (856) 742-0237
         Email: dave.brown@mhslift.com   

     (2) Penn Jersey Diesel and Trailer
         2950 State Road
         Bensalem, PA  19020
         Attn: Donald Zabinski, President
         Phone: (215) 757-0574
         Fax: (215) 784-0559
         Email: donniez@pennjerseydt.com;

     (3) Service Tire Truck Centers, Inc.
         2255 Avenue A
         Bethlehem, PA 18017
         Attn: Earl S. Gassmann
               Director of Operations
         Phone: (610) 954-8473
         Fax: (610) 332-4812
         Email: egassmann@sttc.com;  

     (4) On Site Personnel
         P.O. Box 634
         Montgomeryville, PA 18936
         Attn: Anh Nguyen, General Manager
         Phone: (215) 494-3399
         Fax: (215) 465-5002
         Email: anhnguyen@onsitepersonnel.com;  

     (5) Morroni Technologies, Inc.
         15 West 3rd Street
         Media, PA 19063
         Attn: Larry Morroni, Principal
         Phone: (610) 862-0920
         Email: larry@mediaproper.com;   

Official creditors' committees serve as fiduciaries to the general
population of creditors they represent.  They may investigate the
debtor's business and financial affairs. Committees have the right
to employ legal counsel, accountants and financial advisors at a
debtor's expense.

                          About XTL Inc.

XTL, Inc. is a transportation & logistics company that provides
customized logistics solutions for warehousing and inventory
control of commodities and finished goods.

Ootzie Properties classifies itself as a Single Asset Real Estate
(as defined in 11 U.S.C. Section 101(51B)) whose principal assets
are located at South 24th and Highway, 275 Industrial Council
Bluffs, Iowa.

XTL, Inc., and its subsidiaries sought Chapter 11 protection on
Aug. 1, 2019 (Bankr. E. D. Penn. Lead Case No. 19-14844).  The
petitions were signed by Louis J. Cerone, president.

Hon. Eric L. Frank presides over the cases.

XTL disclosed $10 million to $50 million in assets and $10 million
to $50 million in liabilities.

XTL tapped Allen B. Dubroff, Esq., at Allen B. Dubroff, Esq. &
Associates, LLC, as its counsel.


YOAKUM INDEPENDENT SCHOOL: S&P Cuts GO Rating to BB+; Outlook Neg.
------------------------------------------------------------------
S&P Global Ratings lowered its underlying rating to 'BB+' from 'A+'
on Yoakum Independent School District, Texas' existing general
obligation debt. The outlook is negative.

"The rating action reflects the district's 2018 audit receiving a
going concern opinion and its weak cash position, caused in part by
cost overruns on capital improvement projects and assessed
valuation declines, which resulted in a precipitous drop in
reserves and led to a negative fund balance in fiscal 2018," said
S&P Global Ratings credit analyst Joyce Jung.

Based on the unaudited fiscal 2019 result, S&P expects the
available reserves and cash in the general fund will remain
negative. S&P believes without substantial changes to revenues or
expenditures, restoration of reserves will be highly pressured in
the near term, and it anticipates the local revenue volatility will
hinder the district's ability to achieve this goal. However,
despite the district's negative general fund reserves and cash
position, S&P believes the district has sufficient resources to
meet its operations and debt service for the next two years.

The negative outlook reflects S&P's view that there is at least a
one-in-three chance it could lower the rating further during its
two-year outlook horizon. Should the district's cash continue to
deteriorate, S&P said it could lower the rating, potentially by
multiple notches. The rating agency also said it could revise the
outlook to stable if cash stabilizes and budgetary performance
trends positively.


YRC WORLDWIDE: S&P Rates $600MM Term Loan 'B'
----------------------------------------------
S&P Global Ratings assigned its 'B' issue-level rating to Overland
Park, Kan.-based YRC Worldwide Inc.'s $600 million term loan due
2024. S&P's '2' recovery rating on the term loan indicates its
expectation that lenders would receive substantial (70%-90%;
rounded estimate: 80%) recovery of principal in the event of a
payment default. The company used proceeds from the new term loan
to refinance its previous term loan.

"While we assume a slight increase in debt leverage as a result of
the refinancing, we expect cash flows to remain appropriate for the
rating," S&P said.

"The stable outlook reflects our expectation for gradually
improving operating performance as the company continues to reduce
costs and prioritize yield and freight mix over tonnage growth.
Still, we believe the company's credit measures will remain highly
leveraged given the company's contingent exposure to very
substantial teamster multi-employer pension plan underfunding," S&P
said.

ISSUE RATINGS--RECOVERY ANALYSIS

Key analytical factors:

-- S&P's simulated default scenario contemplates a payment default
in 2021 due to insufficient cash flow to cover the company's fixed
charges, including interest expense and minimum capital
expenditures. It assumes a cyclical downturn leads to lost business
volumes and lower margins, which trigger a payment default."

-- S&P believes that if YRC were to default, the company would
still have a viable business model because of the continued demand
for its services and its fleet. As such, S&P believes the company
would reorganize rather than liquidate, and the rating agency uses
an enterprise approach in its analysis. S&P uses a 5x multiple of
estimated stressed EBITDA at emergence from bankruptcy, in line
with trucking peers.

-- Other key default assumptions include LIBOR of 250 basis
points.

Simulated default assumptions

-- Simulated year of default: 2021
-- EBITDA at emergence: $126 million
-- EBITDA multiple: 5x

Simplified waterfall

-- Net enterprise value (after 5% administrative costs): $514
million
-- Valuation split in % (obligors/nonobligors): 95%/5%
-- Collateral value available to secured creditors: $501 million
-- Secured first-lien debt: $630 million
-- Recovery expectations: 70%-90% (rounded estimate: 80%)

Notes: All debt amounts include six months of prepetition interest.
Collateral value equals asset pledge from obligors after priority
claims plus equity pledge from nonobligors after nonobligor debt.


ZELIS HEALTHCARE: S&P Lowers Long-Term ICR to 'B'; Outlook Stable
-----------------------------------------------------------------
S&P Global Ratings lowered its long-term issuer credit rating on
Zelis Healthcare Corp. to 'B' from 'B+'. The outlook is stable.

S&P said, "We also lowered our debt ratings on the company's
first-lien senior secured credit facilities to 'B' from 'B+'. The
recovery rating remains unchanged at '3' (50%), indicating lenders
could expect meaningful recovery in the event of a payment default.
With the proposed transaction, the consolidated company's debt
structure will consist of a $150 million revolver maturing in 2024
and a $1.5 billion first-lien term loan B maturing in 2026."

"Our downgrade of Zelis is based on its increased leverage relative
to our expectations following the combination with RedCard and its
refinanced capital structure. Prior to the announced debt
recapitalization, Zelis had operated under a relatively
conservative financial policy driven by private-equity sponsor,
Parthenon Capital. As of the 12 months ended June 30, 2019, its
adjusted debt-to-EBITDA ratio was 2.1x with EBITDA interest
coverage over 8x. Pro-forma for the new capital structure, adjusted
leverage will be 7x with coverage slightly above 2x. Given the
considerable increase in leverage, we have updated our view of
Zelis' financial risk profile to highly leveraged."

"The stable outlook reflects our expectation that Zelis'
differentiated end-to-end cost-containment and payment-solutions
business model will continue to support positive operating
performance through 2019-2020. Once the proposed transaction
closes, we expect to withdraw our ratings on Zelis Healthcare Corp.
as Zelis Holdings, LLC (d/b/a Zelis) will be the ultimate parent."

"We would consider lowering the rating during the next 12 months if
the company raises debt or its business deteriorates such that
adjusted leverage is above 7x or EBITDA interest coverage falls
below 2x. This could result from the unexpected loss of multiple
key clients, client insourcing risk, or execution issues associated
with the proposed transaction. We would also consider a downgrade
if liquidity becomes constrained so that we expect liquidity cash
sources to fall to less than 1.2x of expected uses."

"We could raise the rating in the next 12 months if earnings growth
and debt repayment were to improve adjusted financial leverage and
EBITDA coverage to a more-conservative level, including financial
leverage sustained below 5x and EBITDA coverage above 3x, combined
with continued sound business fundamentals."


ZELIS HOLDINGS: S&P Assigns 'B' ICR; Outlook Stable
---------------------------------------------------
S&P Global Ratings assigned its 'B' long-term issuer credit rating
to Zelis Holdings, LLC (Zelis). The outlook is stable.

At the same time, S&P assigned its 'B' debt rating to Zelis'
planned $150 million, five-year, first-lien revolver and $1.5
billion, seven-year, first-lien term loan B. The recovery ratings
on the first-lien credit facilities are '3', reflecting S&P's
expectation for meaningful (50%) recovery in the event of a payment
default.

The rating action follows Zelis Healthcare's announced combination
with RedCard. Private equity sponsor Parthenon Capital was an
investor in both companies prior to the combination and will remain
a material investor of Zelis. New private equity sponsor Bain
Capital, along with management, will be minority investors in the
company. The Zelis combination will create the first payment
optimization and claim cost solutions platform in the industry.
Zelis will issue $1.5 billion in funded debt to effectuate the
transaction. This will result in adjusted leverage of 7x (pro forma
as of June 30, 2019, including S&P's adjustments), which S&P
expects Zelis to lower to 6x-6.5x in 2019 and 5x-5.5x in 2020 based
on significant EBITDA growth and required first-lien debt
amortization. S&P expects EBITDA interest coverage of at least 2x
during this time.

The stable outlook reflects S&P's expectation that the consolidated
company's differentiated end-to-end cost-containment and
payment-solutions business model will continue to support positive
operating performance through 2019-2020, with revenue growth
between 15% and 20% due to increased cross-selling and a highly
visible contracted revenue backlog, and EBITDA margins between 39%
and 41% (net margins of 45%-47%). S&P believes this will result in
adjusted leverage of 6.0x-6.5x by year-end 2019 and 5.0-5.5x by
year-end 2020 and EBITDA interest coverage above 2x over this time
period.

"We would consider lowering the rating during the next 12 months if
the company raises debt or its business deteriorates such that
adjusted leverage is above 7x or EBITDA interest coverage falls
below 2x. This could result from the unexpected loss of multiple
key clients, client insourcing risk, or execution issues associated
with the proposed transaction," S&P said, adding that it would also
consider a downgrade if liquidity becomes constrained so that it
expects liquidity cash sources to fall to less than 1.2x of
expected uses.

S&P said it could raise the rating in the next 12 months if
earnings growth and debt repayment were to improve adjusted
financial leverage and EBITDA coverage to a more-conservative level
including financial leverage sustained below 5x and EBITDA coverage
above 3x, combined with continued sound business fundamentals.

-- S&P is assigning its 'B' issue-level ratings with a '3 (50%)'
recovery to Zelis' $150 million five-year first-lien revolver and
$1.50 billion seven-year first-lien term loan.

-- S&P has valued Zelis on a going-concern basis using a 5.5x
multiple over the rating agency's projected emergence EBITDA.

-- S&P is applying a 25% operational adjustment because the
company only has first-lien debt and has a relatively high EBITDA
decline.

-- S&P's simulated default scenario contemplates a payment default
in 2022 stemming from a combination of intense competitive
pressure, provider disruptions, and large client losses.

-- S&P believes lenders would achieve the greatest recovery value
through reorganization rather than liquidation of the business.

-- Emergence EBITDA: $164 million
-- Year of default: 2022
-- Multiple: 5.5x
-- Gross enterprise value: $902 million
-- Net enterprise value (after 5% administrative expenses): $857
million
-- Obligor/nonobligor valuation split: 100/0
-- Estimated first-lien claims: $1.646 billion
-- Value available for first-lien claims: $857 million
-- Recovery: 50%-70% (50%)


[*] Ex-Delaware Bankruptcy Judge Kevin Carey Joins Hogan Lovells
----------------------------------------------------------------
Global law firm Hogan Lovells said Sept. 18, 2019, that the
Honorable Kevin J. Carey will be joining the firm's Business
Restructuring and Insolvency Practice as a partner effective
October 1.

Judge Carey joins the firm following his retirement on August 31
from the United States Bankruptcy Court, District of Delaware,
where he earned a reputation for being one of the nation's top
bankruptcy judges.

"Judge Carey's superlative reputation is well earned—in his 18+
years on the bench, he presided over some of the largest and most
significant Chapter 11 cases," said Chris Donoho, Global Head of
the Business Restructuring and Insolvency Practice. "He is a great
resource for companies and creditors, and we expect that he will
play key roles—as examiner or fiduciary—in bankruptcy cases and
restructurings across the U.S. and internationally. He also has the
cross-border experience needed to be a facilitator in multinational
proceedings."

Judge Carey served as United States Bankruptcy Judge for the
Eastern District of Pennsylvania from 2001 to 2005, before being
appointed to the United States Bankruptcy Court, District of
Delaware. He issued more than 200 written decisions from the bench
in Delaware, including important rulings on valuation, fiduciary
duties, and other complex Chapter 11 confirmation issues.

"Hogan Lovells has an outstanding group of bankruptcy lawyers, many
of whom have appeared before me, and have served alongside me in
industry leadership positions," said Judge Carey. "I am looking
forward to working with this exceptional group.  The firm's global
platform aligns well with my strong interest in cross-border as
well as domestic work."

Judge Carey is a fellow of the American College of Bankruptcy, a
member of the Board of the American Bankruptcy Institute, and a
member of the International Insolvency Institute. He also was the
Global Chair of the Turnaround Management Association, and he
lectures worldwide on bankruptcy issues.

The addition of Judge Carey comes at a time of significant growth
for the firm's Business Restructuring and Insolvency Practice.
Other high-profile lateral additions to the practice include
Philippe Druon, who joined the Hogan Lovells Paris office in April,
and David Simonds, who joined the firm in the Los Angeles Office in
May.  Last year, Rick Wynne, Bennet Spiegel and Erin Brady joined
the practice in Los Angeles.


[^] BOOK REVIEW: Full Faith and Credit: The Great S & L Debacle
---------------------------------------------------------------
Faith and Credit: The Great S & L Debacle and Other Washington
Sagas
Author: L. William Seidman
Publisher: Beard Books
Softcover: 316 Pages
List Price: $34.95

Order a copy today at
http://www.beardbooks.com/beardbooks/full_faith_and_credit.html

"My friends, there is good news and bad news. The good news is that
the full faith and credit of the FDIC and the U.S. government
stands behind your money at the bank. But the bad news is that you,
my fellow taxpayers, stand behind the U.S, government." Take it
from L. William Seidman, former chairman of the FDIC under the
Reagan and Bush administrations, in his irreverent Washington
memoir. Chosen by Congress to lead the S&L cleanup, the author
describes how the debacle was created and nurtured, and the
lawsuits against Charles Keating, Michael Milken, and Neil Hush
that it spawned.

The story begins in the summer of 1973 when Seidman, then a Grand
Rapids, Michigan, businessman and managing partner of one of the
country's 10 largest accounting firms, which bore his family's
name, was tapped by Nixon to be undersecretary of HUD. Seidman had
scarcely unpacked his bags when "the summer of 1973" took on new
meaning in Washington and across the country. Confirmation of any
of the precarious president's nominations looked dubious in the
extreme, and Seidman prepared to pack up again. Then came a call
from the office of newly appointed Vice President Ford, Spiro
Agnew, hastily departing, had left the office in a shambles. (Not
least to be disposed of were large cases of Scotch whiskey,
presented to Agnew by supplicants.) Would Seidman lend his
managerial expertise for a few weeks to help a fellow Grand Rapidan
get organized?

One thing led to another in the usual Potomac way, and when Ford
advanced to the presidency, Seidman was made his assistant for
economic affairs. That job, too, was relatively short-lived, but a
decade later he returned to Washington to head the FDIC under
Reagan. What the author found was plenty disturbing. The
over-optimism of the 1970s and 1980s -- in particular, he believes,
a speculative binge of real estate investing followed by recession
-- was resulting in numerous bank failures, more than 1,000 between
1986 and 1991. Worse, disaster loomed in the sister agency that
insured savings and loan institutions; a majority of the nation's
4,000 S&Ls were on their way to bankruptcy. What caused the S&L
crisis? Seidman, although a small-government advocate, blames a
combination of deregulation and cutbacks in the oversight agencies.
One of his many battles, for example, was with OMB, which sought to
cut the FDIC's bank supervision staff just as it had tried to
reduce the number of S&L examiners. But he finds a silver lining in
the near catastrophe; proof of resilience. The diversity of the
U.S. financial system is also its strength.

Seidman's memoir is as much about life inside the Beltway as it is
about financial crises, making this book, first published in 1990,
no less entertaining today. Included are lively anecdotes of
confrontations with heavy-weight White House chief of staff John
Sununu, an interview with a wild-eyed Wyoming purchaser of FDIC
property from a liquidated bank who arrived in Seidman's office
armed with a gun to register his displeasure with the purchase (a
valid objection, the author discovered), and ambush by Secret
Service agents who converged on Seidman as he opened his window and
leaned out to watch the president's helicopter take off.

L. William Seidman was chairman of the Federal Deposit Insurance
Corporation from 1985 to 1991. Under his supervision, the FDIC
closed hundreds of failed banks and savings associations as the
agency attended to a debacle that cost taxpayers roughly $200
billion. Seidman worked for U.S. Presidents Gerald R. Ford, Ronald
Reagan and George H. W. Bush. He was also chief commentator on CNBC
and publisher of Bank Director magazine. He was also on the
speaking circuit, and a consultant to the Nippon Credit Bank,
Morgan Stanley Dean Witter, Ernst & Young, and Freddie Mac, among
others. Seidman died May 2009. He was 88.



                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

TCR subscribers have free access to our on-line news archive.
Point your Web browser to http://TCRresources.bankrupt.com/and use
the e-mail address to which your TCR is delivered to login.

                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors.

Copyright 2019.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
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