/raid1/www/Hosts/bankrupt/TCR_Public/191004.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, October 4, 2019, Vol. 23, No. 276

                            Headlines

ABC PM 652: Unsecureds to Get 5% Recovery Under Plan
ACCREDITED LIMOUSINE: $7.2K Sale of Toyota Camry to Mpounas Okayed
ADPOWER INC: U.S. Trustee Unable to Appoint Committee
AERO-MARINE: Sale of Vaughns Interest in Property Okayed
ALLIANT HOLDINGS: Moody's Rates $575MM Sr. Unsec. Notes 'Caa2'

ALLIANT HOLDINGS: S&P Rates $575MM Senior Notes 'CCC+'
ARGOS THERAPEUTICS: Secured Claims Total $1.3MM Under Plan
BAKER HYDRO-EXCAVATING: Unsecureds to Get $5 Monthly Payments
BRISTOW GROUP: Incorporates Macquarie Settlement in Plan
BRISTOW GROUP: Secured Noteholders File 2nd Modified Statement

BROOKLYN EVENTS: S&P Puts 'BB' ICR on CreditWatch Developing
C & S JANITORIAL: Nov. 4 Hearing on Disclosure Statement
CAPE MIAMI 32: Nov. 26 Hearing on Disclosure Statement
CAROLINA CARBONIC: May Continue Cash Collateral Use Until Oct. 23
CENTENE CORP: S&P Affirms 'BB+' Issuer Credit Rating; Outlook Pos.

CENTURY III MALL: December 11-12 Plan Confirmation Hearing
CIVITAS HEALTH: Seeks to Hire Steven Shareff as Legal Counsel
CLEAR THE AIR: Unsecureds to Split $50,000 in Plan
COBALT COAL: Unsecureds to Recover 100% Plus Interest in 5 Years
COLLEGE OF NEW ROCHELLE: Seeks to Hire Real Estate Advisors

CORAL POINTE: Nov. 13 Hearing on Disclosure Statement
CRYSTAL TRANSPORTATION: Unsecured Claims Total $3.104 Million
CUMBERLAND BEHAVIOR: May Use Cash Collateral Through Oct. 31
DANCEL LLC: Cash Collateral Use Continued Through Nov. 9
DASHCO INC: U.S. Trustee Unable to Appoint Committee

DISASTERS, STRATEGIES: Secured Creditor to Get 60 Monthly Payments
DITECH HOLDING: Osler Hoskin Hired as Panel's Corp. & Tax Counsel
DOUBLE L FARMS: Plan to Pay Creditors in 10 Years; Nov. 13 Hearing
DSN INC: Bonebrake Buying 125-Acre Hancock Property for $600K
EB HOLDINGS II: Files for Chapter 11 With Pre-Packaged Plan

ELK PETROLEUM: Court Won't Rule on Panel's Sec. 502(d) Argument
FIRED UP: Unsecureds to Get Payments Through Dec. 2028
FIRST QUALITY: S&P Lowers Senior Unsecured Notes Rating to 'B+'
FORESIGHT ENERGY: Fitch Lowers Issuer Default Rating to C
FOREVER 21: Taps Prime Clerk as Claims Agent

FRANK INVESTMENTS: Cash Collateral Hearing Continued on Nov. 21
FREEDOM FOODS: Unsecureds to Recover 40% in 5 Years
GARRETT LIMESTONE: New Enterprise Objects to Disclosure Statement
GATEWAY RADIOLOGY: Secureds to Get Paid at 5% Interest Over 10 Year
GOLASINSKI HOMES: Secured Creditors Impaired Under Plan

GREENE AVENUE: Nationstar Objects to Amended Disclosure Statement
GRIFFITH FARMS: Oct. 30 Plan Confirmation Hearing
GUERRERO DELI: Implements New Menu to Attract More Customers
HY-TECH PLUMBING: Nov. 4 Plan Confirmation Hearing
ICH INTERMEDIATE: S&P Assigns 'B+' Long-Term ICR, Outlook Stable

INVEST IN AMERICA: S&P Cuts 2017A Revenue Bonds Rating to 'BB+'
JAMES GARRISON: Tims Buying 2006 Ford F250 SRW Super for $6K
JHS VENTURES: Unsecureds to Get $40K Over 24 Months at 3% Per Annum
JOE HASH: Delp Buying 1/3 Interest in Crockett Property for $130K
JOHN S WON: Ascentium Capital Objects to Disclosure Statement

JOY ENTERPRISES: Sysco Jackson Objects to Disclosure Statement
JTJ RESTAURANTS: Court Conditionally Approves Disclosure Statement
KAISER GYPSUM: Asbestos Trust to Get $49MM Cash, $1MM Note
KING FARMS: Nov. 7 Hearing on Disclosure Statement
KK SUB II: Clarifies Source of Funds for Plan Payments

LIVE NATION: Moody's Rates Proposed $1.85BB Secured Loans 'Ba1'
MINUANO COMUNICACOES: Chapter 15 Case Summary
MOHIN ENTERPRISES: Has Authority on Interim Cash Collateral Use
NATALJA VILDZIUNIENE: Wants to Use Rents to Pay Mortagages/Bills
NORTHWEST ACQUISITIONS: Moody's Lowers CFR to Caa1, Outlook Neg.

O'LINN SECURITY: Authorized to Use Cash Collateral Until Dec. 31
PALMETTO CONSTRUCTION: Seeks to Hire Congeni Law Firm as Counsel
PANGEA INDUSTRIES: Michael Hardwick Hired as Bankr. Counsel
PARADIGM GATEWAY: Cash Collateral Motion Continued to Nov. 31
PENGROWTH ENERGY: Obtains 31-Day Extension of its Debt Maturities

PHILADELPHIA SCHOOL: Fitch Hikes Issuer Default Rating to BB+
PLASTIC POWERDRIVE: Asks Court to Combine Plan, Disclosures Hearing
POWER SOLUTIONS: Extends Doosan Supply Agreement Until 2023
PRINT PLUS: Court Conditionally Approves Disclosure Statement
PROQUEST LLC: Moody's Rates New $875MM Secured Loans 'B2'

PUBLIC FINANCE AUTHORITY, WI: S&P Cuts 2017A-B Bond Ratings to BB+
RAIT FUNDING: Seeks to Hire M-III as Financial Advisor
REAGOR-DYKES MOTORS: Court Approves Disclosure Statement
ROYAL ALICE PROPERTIES: Taps Stillman as Claims Counsel
S.A. SPECIALTIES: Case Summary & 19 Unsecured Creditors

SADDY FAMILY: Nov. 21 Hearing on Disclosure Statement
SAMSON OIL: Delays Filing of FY 2019 Annual Report
SCHAEFER AMBULANCE: $428K Sale of Los Angeles Property Approved
SCOOBEEZ INC: May Continue Cash Collateral Use Through Dec. 6
SFKR LLC: Case Summary & 4 Unsecured Creditors

SHAPE TECHNOLOGIES: S&P Downgrades ICR to 'B-'; Outlook Negative
SIMBECK INC: Case Summary & 20 Largest Unsecured Creditors
SKEFCO PROPERTIES: To Pay Creditors From Rental Income
SMG US: Moody's Reviews B3 CFR for Upgrade Amid AEG Merger Deal
STAR CHAIN: "US Star" Restaurants, Owner File for Chapter 11

STAR CHAIN: Case Summary & 30 Largest Unsecured Creditors
STARFISH HOLDCO: Moody's Affirms B3 CFR, Outlook Stable
STARFISH HOLDCO: S&P Affirms 'B-' ICR on Pitney Bowes Acquisition
STARS GROUP: Fitch Puts B+ IDR on Rating Watch Negative
TAMARACK AEROSPACE: Seeks to Hire Lee & Hayes as IP Counsel

TAMARACK AEROSPACE: Seeks to Hire Moss Adams as Accountant
TIERPOINT LLC: Fitch Lowers LT IDR to B-, Outlook Still Negative
TOWER AUTOMOTIVE: Moody's Withdraws B1 CFR on Autokiniton Deal
TPRO ACQUISITION: S&P Assigns 'B-' ICR; Outlook Stable
TRI-PROPERTIES LTD: Voluntary Chapter 11 Case Summary

TRINSEO S.A.: S&P Downgrades ICR to 'B+' on Weaker Credit Measures
TROIANO TRUCKING: Allowed to Use Cash Collateral Until Oct. 31
U.S. STEEL: S&P Alters Outlook to Negative, Affirms 'B' Ratings
V R ASHIRWAD: Unsecureds to Get Monthly Payments of $325
VALADOR INC: May Continue Cash Collateral Use Through Dec. 31

VALERITAS HOLDINGS: CR Group Hikes Equity Stake to 70.6%
VALERITAS HOLDINGS: Reduces Long-Term Debt by Nearly 60%
VIRTU FINANCIAL: Fitch Affirms BB- LT IDRs, Outlook Still Negative
WEST COAST DISTRIBUTION: U.S. Trustee Forms 3-Member Committee
WEYERBACHER BREWING: Cash Collateral Use Continued Thru Nov. 11

WOLVERINE WORLD: S&P Alters Outlook to Negative, Affirms BB+ ICR
[*] BOOK REVIEW: THE SUCCESSFUL PRACTICE OF LAW

                            *********

ABC PM 652: Unsecureds to Get 5% Recovery Under Plan
----------------------------------------------------
According to the First Amended Disclosure Statement filed Sept. 30,
2019, ABC PM 652 S Sunset LLC has a reorganization plan that
proposes to pay general unsecured creditors 5 cents on the dollar
within 5 years.  ABS Loan Trust IV, U.S. Bank National Association,
as Trustee, with a claim of $62,972, will receive $157.43 per
quarter for 60 months.  Dalubhai & Jeliben Patel, with a total
Claim of $245,000, will receive quarterly payments of $612.50.

Juana Roman has been the sole managing member of the Debtor since
its incorporation in October 2015.  She will remain the Debtor's
sole managing member following confirmation of this Chapter 11
Plan.

The Debtor estimates that projected "future monthly disposable
income" available to pay all plan creditors for the 5-year period
of the Plan following confirmation is approximately $840,000 and
expenses.  Thus, the Debtor believes it has ample resources with
which to successfully fund the Chapter 11 Plan.

At this point in time, the Debtor owns a single property, the
office property located in West Covina.  At this time, the property
is leased by ABC which occupies the entire approximate 8,000 square
feet.  There is a present lease with ABC in the amount of $11,000
per month.

The Disclosure Statement hearing will be held on Oct. 22, 2019 at
2:00 p.m., in Courtroom 1668, U.S. Bankruptcy Court, 255 E. Temple
St. Los Angeles, CA 90012.

A full-text copy of the First Amended Disclosure Statement dated
Sept. 30, 2019, is available at https://tinyurl.com/y3ffyxgj from
PacerMonitor.com at no charge.

                  About ABC PM 652 S Sunset

ABC PM 652 S Sunset LLC, a privately held company that provides
property management services.  ABC PM 652 S Sunset, filed a Chapter
11 petition (Bankr. C.D. Cal. Case No. 19-16004) on May 22, 2019.
In the petition signed by Juana M. Roman, managing member, the
Debtor estimated $1 million to $10 million in both assets and
liabilities.  Judge Barry Russell oversees the case.  John H.
Bauer, Esq., at Financial Relief Legal Advocates, Inc., is the
Debtor's bankruptcy counsel.


ACCREDITED LIMOUSINE: $7.2K Sale of Toyota Camry to Mpounas Okayed
------------------------------------------------------------------
Judge Robert D. Drain of the U.S. Bankruptcy Court for the Southern
District of New York authorized Accredited Limousine Service, LLC's
sale of its rights, title and interests in and to a certain 2016
Toyota Camry, VIN 4TIBD1FK6GU189571, free and clear of all liens,
encumbrances and interests, to Nicholas Mpounas or a designated
corporate entity of which he is the sole owner, on a private sale
basis, for $7,200.

At or prior to the closing on the sale of the Car, and as a
condition precedent to the Debtor's obligation to transfer title to
the Car to the Purchaser, the Purchaser will deliver to the Debtor:
(a) the vehicle tracking device, and/or permit access to the Car
upon reasonable notice of not less than 48 hours for the Debtor to
arrange and coordinate removal of the vehicle tracking device by a
representative of Verizon; and (b) the Westchester County Taxi and
Limousine Commission window sticker from the Car.

At the Closing, and thereafter if necessary for the Purchaser to
effect the titling and registration of the Car to the Purchaser,
the Debtor will deliver to the Purchaser: (a) the original
Certificate of Title to the Car duly endorsed to the Purchaser; (b)
a duly executed original Bill of Sale for the Car; (c) the original
Release of  Lien on the Car issued by Toyota Motor Credit upon
satisfaction of the lien it previously held on the Car or other
original document acknowledging Toyota Motor Credit's release of
lien against the Car; and (d) any further documentation that may be
required by the New York State Department of Motor Vehicles to
effectuate the transfer of title and registration of the Car from
the Debtor to the Purchaser.

The terms and conditions of the Order will be immediately effective
and enforceable upon its entry and the requirements of Bankruptcy
Rule 6004(h) are waived, for cause.   

               About Accredited Limousine Service

Accredited Limousine Service, LLC -- https://accreditedlimo.com/ --
is a chauffeured black car service that provides local, national
and worldwide limousine services.  It services commercial as well
as corporate fleets, FBOs and aircraft/management charter
companies.  The company offers a wide selection of vehicles,
serving LaGuardia, Kennedy, Newark, Teterboro and White Plains
airport.

Accredited Limousine Service sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 19-22215) on Feb. 6,
2019.  At the time of the filing, the Debtor disclosed $663,575 in
assets and $1,494,868 in liabilities.  The case is assigned to
Judge Robert D. Drain.  Pick & Zabicki LLP is the Debtor's legal
counsel.



ADPOWER INC: U.S. Trustee Unable to Appoint Committee
-----------------------------------------------------
The Office of the U.S. Trustee on Oct. 2, 2019, disclosed in a
court filing that no official committee of unsecured creditors has
been appointed in the Chapter 11 case of ADPOWER, Inc.

                     About ADPOWER, Inc.

ADPOWER, Inc., which conducts business under the name Promotions
Unlimited, filed a Chapter 11 bankruptcy petition (Bankr. S.D. Tex.
Case No. 19-34202) on Aug. 1, 2019.  The Debtor was estimated to
have less than $1 million in both assets and liabilities as of the
bankruptcy filing.  The Debtor is represented by Richard L. Fuqua,
at Fuqua & Associates, P.C.


AERO-MARINE: Sale of Vaughns Interest in Property Okayed
--------------------------------------------------------
Judge Caryl E. Delano of the Bankruptcy Court for Middle District
of Florida authorized Joseph N. Vaughn and Theresa L. Vaughn,
affiliates of Aero-Marine Technologies, Inc., to sell their quarter
interest of the property located at 7201 Rum Bay Drive, Unit 4113-D
in Palm Island, Florida to Mark A. and Sherry J. Novelli for
$18,500.

The sale is free and clear of any and all liens, claims,
encumbrances and interests.

The Debtors are further authorized to pay the Closing Costs which
will be paid directly from the proceeds from the sale at the
Closing.  All net proceeds will be placed into a segregated DIP
account.  The Debtors' counsel will be the sole signator on the
account.  No disbursements may be made from the account except on
an order of the Court.  The net proceeds from sale of 7201 Rum Bay
Dr. Unit 4113-A previously approved by the Court will be placed
into the segregated DIP account referenced.

Notwithstanding Bankruptcy Rule 6004(h), and 6006(d) and 7062, the
Order is effective and enforceable immediately upon entry and there
is no reason for delay in the implementation of the Order.  The
14-day stay in Rule 6004(h) is expressly waived.  

                 About Aero-Marine Technologies

Aero-Marine Technologies, Inc. --
https://www.aero-marinetechnologies.com/ -- provides total support
for waste and water system components found on Boeing, Airbus and
Embraer aircraft.  Aero-Marine Technologies is a full-service
maintenance, repair and overhaul (MRO) with a worldwide customer
base.

Aero-Marine Technologies sought bankruptcy protection under Chapter
11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 19-07547) on
Aug. 9, 2019.  The Debtor's case is jointly administered to that of
Joseph N. Vaughn and Theresa L. Vaughn.

In the petition signed by Joseph N. Vaughn, president,
Aero-Marine's assets are estimated at $500,000 to $1 million, and
its liabilities at $1 million to $10 million.

The Hon. Caryl E. Delano is the case judge.

Stitchler, Riedel, Blain & Postler, P.A., is the Debtor's legal
counsel.


ALLIANT HOLDINGS: Moody's Rates $575MM Sr. Unsec. Notes 'Caa2'
--------------------------------------------------------------
Moody's Investors Service assigned a Caa2 rating to $575 million of
eight-year senior unsecured notes being issued by Alliant Holdings
Intermediate, LLC (corporate family rating B3), a subsidiary of
Alliant Holdings, L.P. (together with its subsidiaries, Alliant).
Alliant is also borrowing an additional $130 million under an
existing first-lien term loan maturing in May 2025 (rated B2).
Alliant will use proceeds from these offerings to redeem its
existing $685 million of senior unsecured notes due in August 2023
and to pay related fees and expenses. The rating outlook for
Alliant is unchanged at stable.

RATINGS RATIONALE

Alliant's ratings reflect its leading position in several niche
markets, steady organic revenue growth and strong operating
margins, said the rating agency. Alliant's emphasis on specialty
programs, where the broker offers distinct value to both insurance
buyers and insurance carriers, has been a successful strategy.
Alliant continues to build its specialty and middle market
insurance business by expanding through a mix of organic growth,
lateral hires (seasoned producers, mostly with specialty books of
business) and acquisitions. The company has reported strong revenue
growth, healthy EBITDA margins, and good free-cash-flow-to-debt
metrics. These strengths are offset by aggressive financial
leverage and moderate interest coverage, along with its
contingent/legal risk related to lateral hires and acquisition
integration risk. The company also faces potential liabilities from
errors and omissions, a risk inherent in professional services.

Giving effect to the transaction, Alliant will have pro forma
debt-to EBITDA of 7.5x-8.0x, (EBITDA - capex) interest coverage of
just over 2.0x, and free-cash-flow-to-debt in the mid-single
digits, according to Moody's estimates. The rating agency expects
that Alliant will reduce its leverage through EBITDA growth over
the next several quarters. These pro forma metrics reflect Moody's
accounting adjustments for operating leases, contingent earnout
obligations, certain non-recurring and unusual items, and run-rate
EBITDA from acquisitions. The rating agency views Alliant's
leverage as high for its rating category, tempered by healthy free
cash flow.

Factors that could lead to an upgrade of Alliant's ratings include:
(i) debt-to-EBITDA ratio below 6.5x, (ii) (EBITDA - capex) coverage
of interest exceeding 2x, and (iii) free-cash-flow-to-debt ratio
exceeding 5%.

Factors that could lead to a rating downgrade include: (i)
debt-to-EBITDA ratio above 8x, (ii) (EBITDA - capex) coverage of
interest below 1.2x, or (iii) free-cash-flow-to-debt ratio below
2%.

Assignments:

Issuer: Alliant Holdings Intermediate, LLC

$575 million Gtd Senior Unsecured Notes due 2027, Caa2 (LGD6)

Unchanged:

Issuer: Alliant Holdings Intermediate, LLC

Corporate Family Rating, B3

Probability of Default Rating, B3-PD

$200 million Gtd Senior Secured Revolving Credit Facility maturing
in May 2023, B2 (LGD3)

$2,060 million Gtd Senior Secured 1st lien Term Loan B maturing in
May 2025, B2 (LGD3)

$660 million (including proposed $130 million increase) Gtd Senior
Secured 1st lien Term Loan maturing in May 2025, B2 (LGD3)

$685 million Senior Unsecured Notes maturing in August 2023, Caa2
(LGD6) (rating to be withdrawn upon redemption of notes)

Alliant Holdings Co-Issuer, Inc. is a co-issuer of the existing and
new senior unsecured notes.

Outlook Actions:

Issuer: Alliant Holdings Intermediate, LLC

Outlook, Unchanged at Stable

The principal methodology used in these ratings was Insurance
Brokers and Service Companies published in June 2018.

Alliant, based in Newport Beach, California, is a specialty
oriented insurance broker providing property & casualty and
employee benefits products and services to middle-market clients
across the US. The company generated revenue of $1.5 billion for
the twelve months ended June 30, 2019.



ALLIANT HOLDINGS: S&P Rates $575MM Senior Notes 'CCC+'
------------------------------------------------------
S&P Global Ratings assigned its 'CCC+' debt ratings to Alliant
Holdings Intermediate LLC's $575 million senior notes maturing in
2027. The recovery rating is '6', indicating S&P's expectation for
negligible (0%) recovery of principle in the event of a default.

S&P said, "We expect Alliant to use this issuance, combined with
proceeds from a $115 million incremental term loan, to redeem
existing 8.25% notes due 2023. The ratings on Alliant Holdings L.P.
and its core subsidiaries (Alliant)--including our 'B' long-term
issuer credit rating, 'B' first-lien credit facility debt ratings,
and 'CCC+' unsecured debt rating--are unaffected by this
transaction. We assess this deal to be essentially
financial-leverage-neutral and modestly beneficial to Alliant's
debt-service capacity and liquidity profile. Our 'B' long-term
issuer credit ratings continue to reflect the company's fair
business risk and highly leveraged financial risk profile."

"In our view, Alliant's credit metrics moderately deteriorated on a
pro-forma (PF) basis through June 30, 2019. Including this
transaction, financial leverage is 8x and EBITDA interest coverage
is 2.1x, mostly reflecting earlier recapitalization activity. We
expect a measure of strengthening in connection with sustained
revenue and cash-flow generation, resulting in PF adjusted
financial leverage of 6.8x-7.2x by year-end 2019 and 6x-6.8x by
2020, with EBITDA coverage comfortably above 2x."

  Ratings List

  Alliant Holdings Intermediate, LLC.

  Issuer Credit Rating      B/Stable/--

  New Rating

  Alliant Holdings Intermediate, LLC.

   Senior Unsecured
   US$575 mil nts due 2027 CCC+
    Recovery Rating       6(0%)



ARGOS THERAPEUTICS: Secured Claims Total $1.3MM Under Plan
----------------------------------------------------------
Argos Therapeutics, Inc. filed with the U.S. Bankruptcy Court for
the District of Delaware a disclosure statement explaining its plan
of liquidation.

Pursuant to the Medinet Settlement, notwithstanding the
distributions made under the Plan or otherwise to other general
unsecured creditors, Medinet shall be entitled to a distribution
under the Plan on account of the Allowed Medinet Claim in the
amount of $1,300,000.00. The Medinet Settlement, as reflected in
the relative distributions and recoveries or other benefits
provided to holders of Claims or Interests under the Plan, has
facilitated the creation and implementation of the Plan and the
distributions set forth therein to holders of Allowed Claims and
Interests. The Medinet Settlement (i) benefits the Debtor’s
Estate, Creditors and Interest holders and is in their best
interests and (ii) is fair, equitable and reasonable.

The Debtor is required to pay all statutory fees due and owing to
the U.S. Trustee at the time of Confirmation when they become due.
Accordingly, the Plan satisfies the requirements of Bankruptcy Code
section 1129(a)(12).

The Debtor's assets shall vest in the Post-Effective Date Debtor,
under the exclusive control of the Plan Administrator, in
accordance with the provisions of the Plan and this Confirmation
Order.

A full-text copy of the disclosure statement dated September 24,
2019, is available at: https://tinyurl.com/y4pnu4rk from
PacerMonitor.com free of charge.

                 About Argos Therapeutics

Argos Therapeutics, Inc., was incorporated in the State of Delaware
on May 8, 1997.  The Company is an immuno-oncology company focused
on the development and commercialization of individualized
immunotherapies for the treatment of cancer and infectious diseases
based on its proprietary precision immunotherapy technology
platform called Arcelis.

Argos Therapeutics filed a voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No.
18-12714) on Nov. 30, 2018.  The Debtor estimated $1 million to $10
million in assets and $10,000,001 to $50 million in liabilities.
Judge Kevin J. Carey oversees the case.  Matthew B. McGuire, Esq.,
at Landis Rath & Cobb LLP, represents the Debtor.  No official
committee of unsecured creditors has been appointed in the case.


BAKER HYDRO-EXCAVATING: Unsecureds to Get $5 Monthly Payments
-------------------------------------------------------------
Baker Hydro-Excavating Inc.'s First Amended Chapter 11 Plan and
Disclosure Statement propose that Class 3 Allowed Non-Priority
Unsecured Claims are impaired. Monthly payments of (average only)
$5.60. Payments Begin at 1st of month after the Distribution Date.
Payments End 60 months.

Class 1Secured claim of Name Commercial Credit Group, Inc. are
impaired. Monthly payments of $ 5,750.58. Payments Begin on 1st of
month after Effective Date, provided, however, that if the
Effective Date falls on or after the 20th of the month, the first
payment would be due and payable on the 1st of the second month
after the Effective date, as set forth in the proposed promissory
note attached as Exhibit 1 to the First Amended Plan.

Class 3 The unsecured portion of any secured claims or other
unsecured claim where any third party is a co-debtor or guarantor
are impaired. Monthly payments of $ 1,022.66. Payments Begin at 1st
of month after the Distribution Date. Payments End on 60 months.

Class 5 Allowed Non-Priority Unsecured IRS Tax Claims are impaired.
Payments Begin at 1st of month after the Distribution Date.

Class 6 Insider claims are impaired. Insider claims will be paid
nothing.

Class 7 Equity interest holders are impaired. All shares of
existing shareholders will be cancelled. New shares to be issued to
ARB Holding Company LLC (Edith Joan Baker and Marcus Baker are sole
members).

Payments and distributions under the Plan will be funded by the
following: The plan will be funded by cash on hand from business
operations and the issuance of a new equity interests to ARB
Holding Company LLC, a Wyoming limited liability company whose sole
members are creditor Edith Joan Baker and Marcus Baker in exchange
for a payment by ARB Holding Company LLC to the Debtor of
$40,000.00 on the Effective Date.

A full-text copy of the First Amended Disclosure Statement dated
September 25, 2019, is available at https://tinyurl.com/y44kdpq9
from PacerMonitor.com at no charge.

              About Baker Hydro-Excavating Inc.

Baker Hydro-Excavating, Inc. is a privately-held excavating
contractor in Mountain View, Wyoming.

Baker Hydro-Excavating sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Wyo. Case No. 18-20839) on October 29,
2018.  At the time of the filing, the Debtor disclosed $611,334 in
assets and $1,869,422 in liabilities.  

The case has been assigned to Judge Cathleen D. Parker.  The Debtor
tapped Clark D. Stith, Esq., as its legal counsel.


BRISTOW GROUP: Incorporates Macquarie Settlement in Plan
--------------------------------------------------------
Bristow Group Inc. and its affiliated debtors on Sept. 30, 2019,
submitted further modifications to its proposed Amended Joint
Chapter 11 Plan of Reorganization.  

According to the black-lined copy of the document, minor changes
were made to the Plan to incorporate a settlement with the
"Macquarie Parties", comprised of Macquarie Bank Limited, Macquarie
Leasing LLC and Macquarie Rotorcraft Leasing Holdings Limited and
certain related owner trustees and affiliates.

The settlement between the Debtors and the Macquarie Parties
provides for, among other things, the assumption pursuant to
Section 365 of the Bankruptcy Code of certain leases between the
Debtors and the Macquarie Parties, amendment of the Macquarie Term
Loan Credit Facility and the Macquarie Term Loan Documents, the
Allowance of certain Claims of the Macquarie Parties and the
reimbursement of certain professional fees, all as set forth in the
motion pursuant to Bankruptcy Rule 9019 seeking approval of such
settlement.

The Plan now provides that in full and final satisfaction of all
Allowed Macquarie Term Loan Credit Facility Claims, such Allowed
Macquarie Term Loan Credit Facility Claims shall be Reinstated, or
shall receive such other treatment as may be agreed upon by such
Holders, the Debtors, and the Required Backstop Parties.

A black-lined copy of the Amended Joint Chapter 11 Plan of
Reorganization, as further amended Sept. 30, 2019, is available at
https://tinyurl.com/y4l38jyd from PacerMonitor.com at no charge.

Counsel to the Secured Notes Ad Hoc Group:

     Damian S. Schaible
     Natasha Tsiouris
     Davis Polk & Wardwell LLP
     450 Lexington Avenue
     New York, New York 10017
     E-mail: damian.schaible@davispolk.com
             natasha.tsiouris@davispolk.com

Counsel to the Unsecured Notes Ad Hoc Group:

     Joshua A. Sussberg
     Brian E. Schartz
     Kirkland & Ellis LLP
     601 Lexington Avenue
     New York, New York 10022
     E-mail: joshua.sussberg@kirkland.com
             brian.schartz@kirkland.com

            - and -

     Gregory F. Pesce
     Kirkland & Ellis LLP
     300 North LaSalle
     Chicago, Illinois 60654
     E-mail: gregory.pesce@kirkland.com

Counsel to the Creditors' Committee:

     Douglas H. Mannal
     Anupama Yerramalli
     Kramer Levin Naftalis & Frankel LLP
     1177 Avenue of the Americas
     New York, New York 10036
     (dmannal@kramerlevin.com)
     (ayerramalli@kramerlevin.com)

                         About Bristow Group

Bristow Group Inc. (OTC: BRSWQ) -- http://www.bristowgroup.com/--
provides industrial aviation and charter services to offshore
energy companies in Europe, Africa, the Americas, and the Asia
Pacific.  It also provides search and rescue services for
governmental agencies and the oil and gas industry.  Headquartered
in Houston, Bristow Group employs 3,000 individuals around the
world.

Bristow Group and its affiliates sought protection under Chapter 11
of the Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 19-32713) on
May 11, 2019.  As of Sept. 30, 2018, the Debtors had $2.861 billion
in assets and $1.886 billion in liabilities.

The cases are assigned to Judge David R. Jones.

The Debtors tapped Baker Botts LLP as bankruptcy counsel; Wachtell,
Lipton, Rosen & Katz as co-counsel with Baker Botts; Alvarez &
Marsal and Houlihan Lokey Capital, Inc., as financial advisors; and
Prime Clerk LLC as claims, noticing and solicitation agent.

Henry Hobbs Jr., the acting U.S. trustee for Region 7, appointed
seven creditors to serve on the official committee of unsecured
creditors in the Chapter 11 cases of Bristow Group Inc. and its
affiliates.  The Committee selected Kramer Levin Naftalis & Frankel
LLP as its legal counsel.  Porter Hedges LLP is the Committee's
local and conflicts counsel.  Imperial Capital, LLC, is the
Committee's financial advisor, and Perella Weinberg Partners LP is
the investment banker.


BRISTOW GROUP: Secured Noteholders File 2nd Modified Statement
--------------------------------------------------------------
In the Chapter 11 cases of Bristow Group Inc., Secured Noteholder
Group, through the law firms of Haynes and Boone, LLP and Davis
Polk & Wardwell LLP, filed a second supplement the disclosures of
under Rule 2019 of the Federal Rules of Bankruptcy Procedure to
provide an updated list of members and their holdings.

The Secured Noteholder Group are comprised of holders of 8.75%
senior secured notes due 2023 issued by Bristow, which members also
provided the secured term loan to the Bristow and Bristow Holdings
Company Ltd. III under that certain credit agreement, dated as of
May 10, 2019 and the senior secured, superpriority, priming
debtor-in-possession term loan under a Credit Agreement, dated as
of August 26, 2019.

In March 2019, the Secured Noteholder Group engaged Davis Polk to
represent it in connection with the Members' holdings of
Prepetition Secured Notes.  In or around April 2019, the Secured
Noteholder Group engaged Haynes and Boone to act as co-counsel in
the Chapter 11 cases.

Haynes and Boone and Davis Polk also separately represent Ankura
Trust Company, LLC, as administrative agent and collateral agent
under the 2019 Term Loan and the DIP Term Loan. Counsel does not
represent or purport to represent any other entity or entities in
connection with the Chapter 11 Cases. In addition, the Secured
Noteholder Group does not claim or purport to represent any other
entity and undertakes no duties or obligations to any entity.

On May 15, 2019, Counsel submitted a verified statement, and on
June 26, 2019, Counsel submitted the First Supplemental Verified
Statement.

Counsel submitted a Second Supplemental Statement to update
information regarding the principal amount of Prepetition Secured
Notes, the principal amount of claims under the 2019 Term Loan and
the principal amount of claims under the DIP Term Loan that the
Members of the Secured Noteholder Group beneficially own or manage
in accordance with Bankruptcy Rule 2019.

As of Sept. 26, 2019, the members of the Secured Noteholder Group,
collectively, beneficially own or manage approximately $247.2
million in aggregate principal amount of Prepetition Secured Notes,
$75.0 million in aggregate principal amount of 2019 Term Loan
Claims, $37.5 million in aggregate principal amount of DIP Term
Loan Claims and $12.5 million in aggregate principal amount of
4.50% convertible senior notes due 2023.  The members of the
Secured Noteholder Group and their disclosable economic interests
are:

(1) Blackrock Financial Management, Inc.
    40 East 52nd Street
    New York, NY 10022

    * $24,518,000.00 in aggregate principal amount of Prepetition
      Secured Notes
    * $7,535,827.37 in aggregate principal amount of 2019 Term
      Loan Claims
    * $3,719,983.02 in aggregate principal amount of DIP Term
      Loan Claims

(2) DW PARTNERS, LP
    590 Madison Ave, 13th Floor
    New York, NY 10022

    * $27,270,000.00 in aggregate principal amount of Prepetition
      Secured Notes
    * $7,416,241.74 in aggregate principal amount of 2019 Term
      Loan Claims
    * $4,137,978.74 in aggregate principal amount of DIP Term Loan

      Claims

(3) Highbridge Capital Management, LLC
    40 West 57th Street 32nd Floor
    New York, NY 10019

    * $39,397,000.00 in aggregate principal amount of Prepetition
      Secured Notes
    * $12,110,521.28 in aggregate principal amount of 2019 Term
      Loan Claims
    * $12,500,000.00 in aggregate principal amount of 4.50%
      convertible senior notes due 2023
    * $5,978,233.22 in aggregate principal amount of DIP Term Loan

      Claims

(4) Oak Hill Advisors, L.P.
    1114 Avenue of the Americas 27th Floor
    New York, NY 10036

    * $123,471,000.00 in aggregate principal amount of Prepetition

      Secured Notes
    * $37,919,516.00 in aggregate principal amount of 2019 Term
      Loan Claims
    * $18,718,576.00 in aggregate principal amount of DIP Term
      Loan Claims

(5) Whitebox Advisors LLC
    280 Park Ave Suite 43W
    New York, NY 10017

    * $32,592,000.00 in aggregate principal amount of Prepetition
      Secured Notes
    * $10,017,893.55 in aggregate principal amount of 2019 Term
      Loan Claims
    * $4,945,229.25 in aggregate principal amount of DIP Term Loan

      Claims

Counsel to the Secured Noteholder Group and the 2019 Term Loan
Agent can be reached at:

          HAYNES AND BOONE, LLP
          Charles A. Beckham, Jr., Esq.
          Kelli Norfleet, Esq.
          Martha Wyrick, Esq.
          1221 McKinney Street, Suite 2100
          Houston, TX 77010
          Telephone: (713) 547-2000
          Facsimile: (713) 547-2600
          Email: charles.beckham@haynesboone.com
                 kelli.norfleet@haynesboone.com
                 martha.wyrick@haynesboone.com

                - and -

          DAVIS POLK & WARDWELL LLP
          Damian S. Schaible, Esq.
          Natasha Tsiouris, Esq.
          450 Lexington Avenue
          New York, NY 10017
          Telephone: (212) 450-4000
          Facsimile: (212) 701-5800
          Email: damian.schaible@davispolk.com
                 natasha.tsiouris@davispolk.com

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

                     About Bristow Group

Bristow Group Inc. (OTC: BRSWQ) -- http://www.bristowgroup.com/--
provides industrial aviation and charter services to offshore
energy companies in Europe, Africa, the Americas, and the Asia
Pacific.  It also provides search and rescue services for
governmental agencies and the oil and gas industry.  Headquartered
in Houston, Bristow Group employs 3,000 individuals around the
world.

Bristow Group and its affiliates sought protection under Chapter 11
of the Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 19-32713) on
May 11, 2019.  As of Sept. 30, 2018, the Debtors had $2.861 billion
in assets and $1.886 billion in liabilities.

The cases are assigned to Judge David R. Jones.

The Debtors tapped Baker Botts LLP as bankruptcy counsel; Wachtell,
Lipton, Rosen & Katz as co-counsel with Baker Botts; Alvarez &
Marsal and Houlihan Lokey Capital, Inc., as financial advisors; and
Prime Clerk LLC as claims, noticing and solicitation agent.

Henry Hobbs Jr., the acting U.S. trustee for Region 7, appointed
seven creditors to serve on the official committee of unsecured
creditors in the Chapter 11 cases of Bristow Group Inc. and its
affiliates.  The Committee selected Kramer Levin Naftalis & Frankel
LLP as its legal counsel.  Porter Hedges LLP is the Committee's
local and conflicts counsel.  Imperial Capital, LLC, is the
Committee's financial advisor, and Perella Weinberg Partners LP is
the investment banker.


BROOKLYN EVENTS: S&P Puts 'BB' ICR on CreditWatch Developing
------------------------------------------------------------
S&P Global Ratings placed Brooklyn Events Center LLC (BEC or
ArenaCo)'s 'BB' rating on CreditWatch with developing implications.
The recovery rating is unchanged at '1', indicating S&P's
expectations for very high recovery (90%-100%, rounded estimate:
95%) in a default.

The project is an enclosed multipurpose arena that hosts the home
games of the National Basketball Association's (NBA) Brooklyn Nets
and the Islanders, a National Hockey League team that will play a
portion of its home games at the arena through at least 2021. The
Brooklyn-based arena opened in September 2012. Brooklyn Events
Center, the arena operator, pays payments in lieu of taxes (PILOT)s
to the PILOT trustee, which in turn transfers them to the PILOT
bond trustee to hold as security for the payment of PILOT bonds.
The PILOT trustee transfers net debt service from the PILOT
payments to the PILOT bond trustee, which then pays bondholders.
BEC uses arena revenues from naming rights, sponsorships, suite
sales, food and beverage, ticket fees, and other event revenues to
pay its PILOT obligations.

On Sept. 18, 2019, Joe Tsai purchased the remaining 50.1% stake in
the Brooklyn Nets and a full (100%) ownership stake in Brooklyn
Events Center LLC, and as part of the transaction, the Nets'
license agreement was amended and restated.

The license terms will revert to the original 2009 revenue splits
between the Nets and ArenaCo. Simultaneously, the securities
(funded with an initial cash deposit of $327.8 million) in the
reserve account, which was created in 2018, were liquidated and the
reserve account agreement was terminated. The funds were paid to
the team in consideration for the amendment and restatement of the
Nets license agreement. Bondholders had no claim on the reserve
account.

The CreditWatch with developing implications reflects that the
ratings could be lowered, affirmed or raised. At this stage, S&P
has not concluded a future ratings path, but expects to resolve
this in the next 90 days or less. Regardless of its rating
approach, S&P views the ability to amend the license agreement to
be a structural weakness in the transaction, which is likely to
constrain the rating to non-investment grade. (Currently S&P rates
the transaction using principles and notch down the structure two
notches for this weakness.) If the rating agency reverts to its
project finance criteria, a rating downgrade would occur if the
forecast minimum DSCR falls to less than 1.2x over the forecast
debt term, assuming the downside continues to demonstrate strong
resiliency. An upgrade would require DSCRs to exceed 1.3x, also
assuming that the structure benefits from its downside resiliency.


C & S JANITORIAL: Nov. 4 Hearing on Disclosure Statement
--------------------------------------------------------
The hearing to consider the approval of the disclosure statement
explaining the reorganization plan of C & S Janitorial Services,
Inc., will be held at the United States Courthouse, 515 Rusk, Bob
Casey Federal Building, Courtroom #402, in Houston, Texas, on Nov.
4, 2019 at 2:30 p.m.  Oct. 26, 2019 is fixed as the last day for
filing and serving written objections to the disclosure statement.

                        Terms of Plan

As reported in the Troubled Company Reporter, C & S Janitorial
Services filed with the U.S. Bankruptcy Court for the Southern
District of Texas, Houston Division, a proposed plan of
reorganization that proposes to pay unsecured creditors in
installment over 10 years, until paid in full.

The general unsecured creditors are owed $536,216.  To reimburse
the debtor for shareholder loans, Mr. and Mrs. Limon will
contribute $4,500 per month to the debtor for 120 months to pay
these creditors in full.  The monthly payment to these creditors
will be $4,500 per month and will be paid on a pro rata basis to
all allowed general unsecured creditors with the first payment
being due and payable on the 15th day of the first full month 60
days following the effective date of the plan.

The shareholders of the Company -- Maria C. Limon (70%) and Sergio
Limon (30%) -- will not receive any dividends unless and until all
creditors are paid in full pursuant to the Plan.

A full-text copy of the explanatory Disclosure Statement dated
Sept. 26, 2019, is available at https://tinyurl.com/yxjar3td from
PacerMonitor.com at no charge.

                  About C & S Janitorial Services

Sergio and Maria Limon, business owners of C & S Janitorial
Services, Inc., founded C & S Janitorial Services in 1991.  With
their strong leadership and work ethics, C & S Janitorial Services
has now become one of Houston's leading janitorial companies.
Today, C&S Janitorial manages facility services for industrial,
corporate, government clients, and medical facilities in Houston
and surrounding areas.

C & S Janitorial Services, a full-service janitorial company based
in Houston, Texas, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Tex. Case No. 19-31497) on March 19,
2019.  It previously sought bankruptcy protection on July 10, 2014
(Bankr. S.D. Tex. Case No. 14-33846).  At the time of the new
filing, the Debtor was estimated to have assets of less than
$50,000 and liabilities of $1 million to $10 million.  The Debtor
tapped the Law Office of Margaret M. McClure as its legal counsel.


CAPE MIAMI 32: Nov. 26 Hearing on Disclosure Statement
------------------------------------------------------
The court has set a hearing to consider approval of the Disclosure
Statement of Cape Miami 32 LLC (DE) for November 26, 2019 at 2:00
p.m., in United States Bankruptcy Court, 301 North Miami Avenue,
Courtroom 7, Miami, FL 33128.

The last day for filing and serving objections to the disclosure
statement is on November 19, 2019 (seven days before Disclosure
Hearing).

Attorney for Debtor is Joel Aresty, Esq., in Tierra Verde,
Florida.

                 About Cape Miami 32 LLC (DE)

Headquartered in Miami Beach, Florida, Cape Miami 32 LLC (DE) filed
for Chapter 11 bankruptcy protection (Bankr. S.D. Fla. Case No.
18-17592) on June 25, 2018. In the Petition signed by Yonel Devico,
MGM, the Debtor estimated its assets at between $50,000 and
$100,000 and its liabilities at between $100,000 and $500,000. Joel
M. Aresty, Esq., at Joel M. Aresty P.A., serves as the Debtor's
bankrupty counsel.  No official committee of unsecured creditors
has been appointed in the case.


CAROLINA CARBONIC: May Continue Cash Collateral Use Until Oct. 23
-----------------------------------------------------------------
Judge Catharine R. Aron of the U.S. Bankruptcy Court for the Middle
District of North Carolina authorized, on an interim basis,
Carolina Carbonic & Hydrotesting, Inc., to use cash collateral to
pay operational needs, adequate protection payments and other
expenses in the ordinary course of its business, pursuant to a
budget.  

The Debtor may use the Cash Collateral through the earliest of: (i)
the entry of a final order authorizing the use of Cash Collateral,
or (ii) the entry of a further interim order authorizing the use of
Cash Collateral, or (iii) Oct. 23, 2019, or (iv) the entry of an
order denying or modifying the use of Cash Collateral, or (v) the
occurrence of a termination event.

The Debtor currently owes approximately $59,279 to the Internal
Revenue Service. The North Carolina Department of Revenue also has
tax lien notices on record for $28,418. The Debtor, however,
contends that it has paid the lien in full and is current on all
taxes with the NCDOR.

The IRS is granted a lien in the property which was held
prepetition having the same priority and rights in the collateral
as it had prepetition including postpetition accounts and accounts
receivable. The Debtor will also pay the IRS a monthly adequate
protection of $1,125 on the 1st non-holiday business day of each
month until the confirmation of a Plan of Reorganization.

The NCDOR will be adequately protected by continuing to allow it to
maintain a security interest in the property which was held
prepetition having the same priority and rights in the collateral
as it had prepetition including postpetition accounts and accounts
receivable.

A further hearing on the Debtor's Cash Collateral Motion is set for
Oct. 23, 2019 at 9:30 a.m.

A copy of the Order is available for free at

          http://bankrupt.com/misc/ncmb19-10899-47.pdf

                    About Carolina Carbonic

Carolina Carbonic and Hydrotesting, Inc., sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. M.D.N.C. Case No.
19-10899) on Aug. 20, 2019.  At the time of the filing, the Debtor
was estimated to have assets of less than $1 million and
liabilities of less than $100,000.  The Law Firm of Ivey,
McClellan, Gatton & Siegmund is the Debtor's counsel.


CENTENE CORP: S&P Affirms 'BB+' Issuer Credit Rating; Outlook Pos.
------------------------------------------------------------------
S&P Global Ratings affirmed its 'BBB+' financial strength rating on
the insurance operating companies of Centene Corp. (NYSE: CNC), and
its 'BB+' issuer credit rating on its holding company. The outlook
is positive.

The outlook is positive. On a stand-alone basis, Centene's capital
and leverage improved in 2018 and, even with the potential WellCare
acquisition, S&P could raise its ratings by one notch in the next
12 months.

S&P could lower its ratings on Centene if it doesn't meet its
financial expectations, or integration risk after the WellCare
acquisition creates operational hiccups at the company.

S&P could upgrade Centene by one notch within the next 12 months
if: the company remains committed to its long-term leverage target
of 40%; capitalization is redundant near the 'BBB' level per the
rating agency's capital model; and operating performance remains
stable, with EBIT returns on revenue of 3%-4%.

This rating action follows a review of Centene under S&P's revised
criteria.

Centene is in the middle of a $17.3 billion acquisition of
WellCare. So far, this transaction has received approval from
shareholders of both companies and from 19 state regulators.
Centene is working through the approval process in another eight
states and the federal (Dept. of Justice) regulator. Once
completed, S&P would view the transaction as providing greater
scale and diversification for Centene. The combined would have 2019
estimated pro forma revenues of more than $100 billion versus about
$60 billion of Centene's 2018 revenues.



CENTURY III MALL: December 11-12 Plan Confirmation Hearing
----------------------------------------------------------
Judge Carlota M. Böhm of the U.S. Bankruptcy Court for the Western
District of Pennsylvania convened a hearing on September 24, 2019
on the approval of the disclosure statement filed by Century III
Mall PA LLC on September 23, 2019, under Chapter 11 of the
Bankruptcy Code and it having been determined that the disclosure
statement contains adequate information.
November 13, 2019, is the last day for filing written ballots by
creditors, either accepting or rejecting the plan pursuant to 11
U.S.C. Section 1126(a); filing claims not already barred by
operation of law, rule or order of this Court; and filing and
serving written objections to confirmation of the plan, pursuant to
Fed.R.Bankr.P 3020(b)(1).

A plan confirmation hearing for the plan will be held on December
11 and 12, 2019, at 10:00 a.m.

The Debtor is represented by Kirk B. Burkley and Sarah E. Wenrich
of Bernstein-Burkley, P.C.

                  About Century III Mall PA LLC

Century III Mall PA LLC -- http://www.centuryiiimall.com/-- owns
the Century III Mall shopping center located in West Mifflin,
Pennsylvania.

Century III Mall PA sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. Pa. Case No. 18-23499) on Sept. 3,
2018.  In the petition signed by Edward Sklyaroff, president, the
Debtor estimated assets of $1 million to $10 million and
liabilities of $1 million to $10 million.  

The case is assigned to Judge Carlota M. Bohm.  

The Debtor tapped Kirk B. Burkley, Esq., at Bernstein-Burkley,
P.C., as its legal counsel.

No official committee of unsecured creditors has been appointed.


CIVITAS HEALTH: Seeks to Hire Steven Shareff as Legal Counsel
-------------------------------------------------------------
Civitas Health Services, Inc., seeks approval from the U.S.
Bankruptcy Court for the Eastern District of Virginia to hire
Steven Shareff, Esq., as its legal counsel.

Mr. Shareff 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, representation in proceedings
related to the case, and the preparation of a bankruptcy plan.  

The Debtor proposes to pay the attorney an hourly fee of $200.  The
retainer fee is $5,000.

In court papers, Mr. Shareff disclosed that he is "disinterested"
within the meaning of Section 101(14) of the Bankruptcy Code.

Mr. Shareff maintains an office at:

     Steven Shareff, Esq.
     115 West Main Street, Suite 5
     P.O. Box 729
     Louisa, VA 23093
     Tel: 540-748-2176
     Fax: 540-967-4347
     E-mail: SRESEARCH39@aol.com
             eleban39@aol.com

                   About Civitas Health Services

Civitas Health Services, Inc. -- http://www.civitashealth.com/--
is a health care company in Henrico, Va., that specializes in
providing mental health skill building services, therapeutic day
treatment, intensive in-home services, outpatient therapy, ABA
therapy, substance abuse services, and peer recovery services.

Civitas Health Services sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. E.D. Va. Case No. 19-34993) on Sept. 24,
2019.  At the time of the filing, the Debtor had estimated assets
of less than $50,000 and liabilities of between $1 million and $10
million.


CLEAR THE AIR: Unsecureds to Split $50,000 in Plan
--------------------------------------------------
Clear the Air, LLC, which has in excess of $1.58 million in
unsecured debt, says it has a Chapter 11 plan that provides that
unsecured creditors will receive a pro rata distribution of $50,000
in 10 equal payments starting six months after the Effective Date.
Additionally, subject to funds collected on Clear the Air's
accounts receivable will be distributed to unsecured creditors with
the next regularly scheduled payment.

Clear the Air proposes a Chapter 11 plan to ratify and complete the
sale of its assets to CTA HVAC, LLC, satisfy a potential preference
action against the owner's wife, address the purported fraudulent
transfer and to pay all of its creditors the pro rata value of its
assets.

The remaining assets of the Debtor are $54,047 in accounts
receivable and cash in its Debtor-in-Possession (DIP) bank accounts
totaling $1,167.   Whether or to what extent the accounts
receivable are collectible is uncertain.

In connection with ceasing operations, Clear the Air paid owner
Jason Stom's wife, Dawn Stom, $30,506.66 in back pay.  This payment
is potentially a preferential payment pursuant to Sec. 547 of the
Bankruptcy Code. However, Mrs. Stom believes that she has defenses
to the preference claim.  Additionally, as noted, despite the fact
that CTA assumed obligations which far exceeded the value of they
received in the transfer, creditor MLN Company has asserted that
the transfer was a fraudulent transfer which is property of the
bankruptcy estate under Sec. 548.

A copy of the Plan and Disclosure Statement from PacerMonitor.com
is available at https://is.gd/KSHQNT

The hearing to consider the approval of the Disclosure Statement
will be held at the United States Courthouse, 515 Rusk, Bob Casey
Federal Building, Courtroom #402, Houston, Texas, on 77002, on Nov.
4, 2019 at 2:00 p.m.  Oct. 26, 2019 is fixed as the last day for
filing and serving written objections to the disclosure statement.

                       About Clear the Air

Clear the Air LLC was formed on January 4, 2006 by Jason Stom. Mr.
Stom is a second-generation HVAC professional having learned the
industry from his father.  Clear the Air experienced rapid growth
and profit by focusing heavily on the customer experience in the
residential and light commercial market.  It offered service,
maintenance, retrofit installations of air conditioning and heating
equipment.

Clear the Air sought Chapter 11 protection (Bankr. S.D. Tex. Case
No. 19-32939) on May 29, 2019, in Houston.  The Debtor disclosed
total assets of $54,315 against total liabilities of $2,501,091 as
of the bankruptcy filing.  The Hon. Eduardo V. Rodriguez is the
case judge.  SMITH & CERASUOLO, LLP, led by name partner Gary F.
Cerasuolo, is serving as the Debtor's counsel.


COBALT COAL: Unsecureds to Recover 100% Plus Interest in 5 Years
----------------------------------------------------------------
Cobalt Coal, LLC, has a reorganization plan that proposes to pay
unsecured creditors in full, with 2 percent interest, after
satisfaction of administrative expenses.

According to the Disclosure Statement, unsecured creditors (Vue
Carbon Limited, KDS Energy, LLC, Big D Enterprises, Inc.) are owed
$1,248,112.  The Debtors will pay the allowed claims with a monthly
payment for 60 months to satisfy all allowed unsecured claims,
beginning with the effective date of the Plan.

Payments and distributions under the Plan will be funded from: (i)
advances under the CAC Option Agreement; and (ii) advances from the
Debtor's principal owner, Tailwind Capital Partners Inc. and its
related entities; and (iii) from the profits generated from mining
metallurgical coal pursuant to the Main Steinman Lease.

A full-text copy of the Disclosure Statement dated Sept. 30, 2019,
is available at https://tinyurl.com/y4xabwby from PacerMonitor.com
at no charge.

                      About Cobalt Coal LLC

Cobalt Coal, LLC, a producer of metallurgical coal headquartered in
Wise, Virginia, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. Va. Case No. 19-70149) on Jan. 31,
2019.  At the time of the filing, the Debtor disclosed $1,100,002
in assets and $455,100 in liabilities.  The case has been assigned
to Judge Paul M. Black.  The Debtor tapped Scot S. Farthing,
Attorney at Law, PC, as its legal counsel.


COLLEGE OF NEW ROCHELLE: Seeks to Hire Real Estate Advisors
-----------------------------------------------------------
The College of New Rochelle filed an application seeking approval
from the U.S. Bankruptcy Court for the Southern District of New
York to hire real estate advisors.

In an application filed in court, the Debtor proposed to employ A&G
Realty Partners, LLC and B6 Real Estate Advisors, LLC to give
advice on issues related to the sale of its property.

The property is a 15-5-acre campus in New Rochelle, N.Y., which is
the Debtor's primary asset.

The firms will get 4 percent of the gross proceeds from the sale of
the property as compensation for their services.

A&G and B6 Real Estate are "disinterested" within the meaning of
Section 101(14) of the Bankruptcy Code, according to court filings.


The firms can be reached through:

     Andrew Graiser
     A&G Realty Partners, LLC
     445 Broadhollow Road, Suite 410
     Melville, NY 11747
     Direct Dial: 631-465-9506
     Mobile: 516-946-8982
     Fax: 631-420-4499
     E-mail: andy@agrealtypartners.com

        - and -

     Paul J. Massey, Jr.
     B6 Real Estate Advisors, LLC
     1040 Avenue of the Americas, 8th Floor
     New York, NY 10018
     Phone: 646.933.2601 / 212.473.2600
     E-mail: pmassey@b6realestate.com

                  About the College of New Rochelle

Founded by the Ursuline Sisters in 1904, The College of New
Rochelle comprises four schools: the school of arts & sciences, the
school of nursing & healthcare professions, the graduate school and
the school of new resources for adult learners.  CNR provided
education to underprivileged and first-generation college students
at its historic home in New Rochelle, Westchester County, New York.
The College expanded to operate satellite campuses at five other
locations in the Bronx, Brooklyn, Harlem and Yonkers.

The College of New Rochelle shut operations in August 2019 and on
Sept. 20, 2019, sought Chapter 11 protection (Bankr. S.D.N.Y. Case
No. 19-23694) in White Plains, New York.

In the petition signed by Mark Podgainy, interim chief
restructuring officer, the Debtor was estimated to have $50 million
to $100 million in assets and liabilities as of the bankruptcy
filing.

The Hon. Robert D. Drain is the case judge.

The Debtor tapped CULLEN & DYKMAN, LLP as bankruptcy counsel; HOGAN
MARREN BABBO & ROSE, LTD., as regulatory counsel.  GETZLER HENRICH
& ASSOCIATES is the restructuring advisor.  A&G REALTY PARTNERS and
B6 REAL ESTATE ADVISORS are marketing the Debtor's assets.
KURTZMAN CARSON CONSULTANTS LLC is the claims agent.


CORAL POINTE: Nov. 13 Hearing on Disclosure Statement
-----------------------------------------------------
The court has set a hearing to consider approval of the Disclosure
Statement of Coral Pointe 604, LLC, for November 13, 2019 at 11:30
A.M., in United States Bankruptcy Court 301 North Miami Avenue,
Courtroom 8, 8th Floor Miami FL 33128.

The last day for filing and serving objections to the disclosure
statement is on November 6, 2019.

Attorney for Debtor is Joel M. Aresty, Esq., in Tierra Verde,
Florida.

                   About Coral Pointe 604

Based in Miami Beach, Florida, Coral Pointe 604, LLC, filed a
voluntary petition under Chapter 11 of the US Bankruptcy Code (S.D.
Fla. Case No. 18-23013) on Oct. 19, 2018, estimating less than $1
million in assets and liabilities.  Joel M. Aresty, Esq., serves as
counsel to the Debtor.

No official committee of unsecured creditors has been appointed in
the Debtor's case.


CRYSTAL TRANSPORTATION: Unsecured Claims Total $3.104 Million
-------------------------------------------------------------
Crystal Transportation Services of NC, Inc., filed an amendment to
the exhibit to the disclosure statement filed together with the
Chapter 11 plan.  The exhibit provides a summary of the Debtor's
liabilities.
                                         
Class 1: Administrative Claims (Impaired)
Class 2: Ad Valorem Taxes (Unimpaired)
Class 3: Unsecured Priority Tax Claims (Unimpaired)   $94,994
Class 4: Access Capital (Impaired)                    $29,399
Class 5: BB&T (Impaired)                             $251,238
Class 6: Carolina Handling LLC (Impaired)             $42,993
Class 7: Raymond Leasing Corp. (Impaired)              $3,646
Class 8: SGH Holdings II, LLC (Impaired)             $938,700
Class 9: VAR Technology Finance (Impaired)            $11,960
Class 10: SIF Whilden, LLC (Impaired)
Class 11: Executory Contracts (Unimpaired)             $3,861
Class 12: General Unsecured Claims (Impaired)      $3,104,401

A full-text copy of the revised Exhibit A to Disclosure Statement,
filed Sept. 30, 2019, is available at https://tinyurl.com/y6rrtkk4
from PacerMonitor.com at no charge.

                  About Crystal Transportation

Based in Durham, North Carolina, Crystal Transportation Services of
NC, Inc., a/k/a Riley Life Industries, Inc., dba Guardian Logistics
Solutions, dba Logisticsville, dba Riley Life Logistics --
http://glsnc.com-- is a logistics company offering customized
freight delivery, storage and inventory management services.  The
Company filed a voluntary Chapter 11 Petition (Bankr. E.D.N.C. Case
No. 19-02618) on June 6, 2019.

In the petition signed by Brent C. Smith, president, the Debtor
disclosed total assets of $995,013 and total liabilities of
$3,002,779.

The Debtor's counsel is Trawick H. Stubbs, Jr., Esq., at Stubbs &
Perdue, P.A., in New Bern, North Carolina.



CUMBERLAND BEHAVIOR: May Use Cash Collateral Through Oct. 31
------------------------------------------------------------
Judge Gregory R. Schaaf of the U.S. Bankruptcy Court for the
Eastern District of Kentucky authorized Cumberland Behavior Group
LLC to use cash collateral through Oct. 31, 2019.

Pursuant to and subject to the terms of any orders approving the
employment of DelCotto Law Group PLLC and the Ordinary Course
Professionals and any subsequent employment applications as may be
approved, there is expressly carved out of Cash Collateral the sums
for DLG's legal fees in the monthly amount of $5,000 and up to
$2,500 per month for each Ordinary Course Professional. The Debtor
is authorized and directed to pay the monthly budgeted amounts for
legal and professional fees to the applicable Ordinary Course
Professional pursuant to the terms of the order approving their
employment and to DLG's escrow account, to be held pending further
order of the Court.

Additionally, there is expressly carved out of Cash Collateral the
sums for U.S. Trustee fees as they become due. The Debtor is
further authorized to pay its annual premium for commercial general
liability insurance.

The Cash Collateral Creditors are granted liens in postpetition
collateral, subject only to any valid and enforceable, perfected,
and non-avoidable liens of other secured creditors. Said
Replacement Liens will be deemed effective, valid and perfected as
of the Petition Date without the necessity of the filing or lodging
by or with any entity of any documents or instruments otherwise
required to be filed or lodged under applicable nonbankruptcy law.
The Replacement Liens are in addition to, and not in lieu or
substitution of, the rights, obligations, claims, security
interests, and prepetition liens and priorities granted under the
existing agreements between the parties.

As additional adequate protection, the Debtor will continue to
account for all cash use, and the proposed cash use as set forth in
the Budget is being incurred primarily to preserve property of the
Estate.

A copy of the Order is available for free at

            http://bankrupt.com/misc/kyeb19-61027-53.pdf

                   About Cumberland Behavior

Cumberland Behavior Group LLC is a provider of community living
based services to persons with intellectual disabilities.  

Cumberland Behavior Group sought Chapter 11 protection (Bankr.
E.D.Kay. Case No. 19-61027) on Aug. 12, 2019.  In the petition
signed by Ace R. Jones, II, member, the Debtor was estimated to
have assets of no more than $50,000, and liabilities at $1 million
to $10 million.  The Hon. Gregory R. Schaaf is the case judge.
Delcotto Law Group PLLC is the Debtor's counsel.


DANCEL LLC: Cash Collateral Use Continued Through Nov. 9
--------------------------------------------------------
Bankruptcy Judge Scott H. Gan authorized Dancel, LLC's continued
use of cash collateral to pay expenses in the ordinary course of
business through Nov. 9, subject to the provisions of the Second
Interim Order.

A continued hearing on Debtor's continued use of cash collateral
will take place on Nov. 7 at 2:30 p.m.

Each creditor with a security interest in cash collateral will have
a perfected postpetition lien against cash collateral to the same
extent and with the same validity and priority as the prepetition
lien, without the need to file or execute any document as may
otherwise be required under applicable non-bankruptcy law.

The Debtor will make adequate protection payments to Washington
Business Bank in the amount of $1,500 per month for two months. WBB
will also retain a continuing and perfected, valid and enforceable
first lien and security interest in the Personal Property
Collateral as provided for in its Merchant Agreement and UCC-1.

Furthermore, the Debtor will make adequate protection payments to
New Mexico Bank & Trust in the amount of $3,000 per month for two
months. NMBT will retain a continuing and perfected, valid and
enforceable first lien and security interest in the Personal
Property Collateral as provided for in the Mortgage, CSA, and
UCC-1. The Debtor will continue to maintain insurance on Jack in
the Box #1261, which is located at 3501 New Mexico State Highway
528 NW, Albuquerque, Bernalillo County, New Mexico, and provide
proof of insurance to NMBT's counsel.

                       About Dancel L.L.C.

Dancel, L.L.C., owns and operates restaurants with multiple
locations in Bernalillo County, N.M.  Dancel filed a voluntary
Chapter 11 petition (Bankr. D. Ariz. Case No. 19-10446) on August
20, 2019.  In the petition signed by Laura Olguin, manager, the
Debtor estimated $500,000 to $1 million in assets and $1 million to
$10 million in liabilities.  The case is assigned to Judge Scott H.
Gan.  Charles R. Hyde, Esq., at The Law Offices of C.R. Hyde, PLC,
serves as the Debtor's counsel.


DASHCO INC: U.S. Trustee Unable to Appoint Committee
----------------------------------------------------
No official committee of unsecured creditors has been appointed in
the Chapter 11 case of Dashco Inc. as of Oct. 1, 2019, according to
a court docket.
    
                        About Dashco Inc.

Dashco Inc., doing business as Rainguard --
https://www.rainguardinc.com/ -- is a family -owned business
engaged in installing siding, windows, soffits, and gutters.
Rainguard also has an insulation division designed to provide their
customers with energy savings for their homes.

Dashco Inc filed a Chapter 11 petition (Bankr. C.D. Ill. Case No.
19-81229) in Peoria, Illinois, on Aug. 28, 2019.  In the petition
signed by Debra S. Belfield, president, the Debtor estimated assets
at $100,000 to $500,000 and liabilities at $1 million to $10
million.  The Hon. Thomas L. Perkins is the case judge.  Rafool,
Bourne & Shelby, P.C., represents the Debtor.


DISASTERS, STRATEGIES: Secured Creditor to Get 60 Monthly Payments
-------------------------------------------------------------------
Disasters, Strategies and Ideas Group, LLC, filed with the U.S.
Bankruptcy Court for the Northern District of Florida, Tallahassee
Division, a disclosure statement explaining its amended chapter 11
plan.

Upon the effective date, Hancock Whitney Bank shall release its
lien(s) on the Debtor's property. The repayment of the Hancock Bank
Claim shall be solely shall be from the Berry/Meyers profit
portion. Hancock Bank's claim shall be paid in sixty (60) equal
monthly installments based upon a five year amortization with 8%
simple interest.

The Reorganized Debtor will enter into employment agreements with
the Equity Holders and each shall receive a salary of $7,000.00 per
month.

In order to ensure funding of the Plan for the Reorganized Debtor,
the Equity Holders have agreed to transfer 100% of their equity
interests to EMDS upon the effective date in return for EMDS’
cash infusion to fund effective date payments as well as the
separate funding of the priority wage claims.

A full-text copy of the disclosure statement dated September 24,
2019, is available at: https://tinyurl.com/yywd9s2g from
PacerMonitor.com free of charge.

The Debtor is represented by:

     Robert C. Bruner, Esq.
     Byron Wright III
     Bruner Wright, P.A.
     2810 Remington Green Circle
     Tallahassee, FL 32308
     Tel: (850) 385-0342
     Fax: (850) 270-2441

        About Disasters, Strategies and Ideas Group

Disasters, Strategies and Ideas Group, LLC --
http://www.dsideas.com/-- is an emergency management and homeland
security services consulting firm.  DSI was established by former
North Carolina and Florida Emergency Management Director Joe Myers
in 2003 to provide emergency management services to state, local
and federal agencies.

Headquartered in Tallahassee, Florida, DSI serves Florida and the
Southeast with a team of professionals that is expert in all
aspects of homeland security and emergency management, with its
primary focus being disaster recovery grant management services.

Disasters, Strategies and Ideas Group filed a Chapter 11 petition
(Bankr. N.D. Fla. Case No. 18-40375) on July 17, 2018.  In the
petition signed by Joseph Myers, vice president, the Debtor
estimated less than $50,000 in assets and $1 million to $10
million
in liabilities.  The case is assigned to Judge Karen K. Specie.

Bruner Wright, P.A., is the Debtor's counsel.

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




DITECH HOLDING: Osler Hoskin Hired as Panel's Corp. & Tax Counsel
-----------------------------------------------------------------
The Official Committee of Consumer Creditors appointed in the
Chapter 11 cases of Ditech Holding Corporation and its affiliated
debtors asks the United States Bankruptcy Court for the Southern
District of New York for authority to retain Osler, Hoskin &
Harcourt LLP as Special Corporate and Tax Counsel nunc pro tunc to
September 16, 2019.

After its appointment, the Consumer Creditors' Committee urged the
Debtors that their businesses could not be sold free and clear of
certain consumer borrower claims and defenses. On July 18, 2019,
the Committee objected to the Debtors' plan of reorganization.  On
August 28, the Court sustained, in part, the Committee's objection
and denied confirmation of the Debtors' plan of reorganization.

After the decision, the Consumer Creditors' Committee and the
Debtors engaged in arm's-length negotiations in connection with a
plan that would sufficiently protect consumer borrower rights,
consistent with the Court's decision.  On September 19, 2019, the
Debtors and the Committee finalized the terms of a settlement and
on September 11, the Debtors filed the Third Amended Plan,
incorporating the CCC Settlement terms, including the
post-Effective Date appointment of a Consumer Representative and
the establishment of a $10,000,000 Reserve for the benefit of
consumer borrower claims.

The Consumer Creditors' Committee needs Osler Hoskin to advise and
assist it with implementing the key terms of the Committee's
settlement with the Debtors, including the establishment of a
Reserve and appointment of a Consumer Representative.  The Panel
cites Osler's extensive experience and excellent reputation in
corporate and tax law.

Osler did not receive any payments from the Consumer Creditors'
Committee or the Debtors during the one-year period before the
Petition Date.

The Osler professionals who will render services to the Committee
and their hourly rates are:

  Attorney           Department     Hourly Rate
  --------           ----------     -----------
Paul Seraganian      Tax            $920
Marc Kushner         Corporate      $1,015
Jillian Mulroy       Corporate      $535
Andrew Granek        Tax            $580

The firm will also receive reimbursement of necessary expenses.

The Consumer Creditors' Committee seeks to retain Osler pursuant to
Bankruptcy Code sections 1103(a), 328(a) and 330, Bankruptcy Rules
2014(a) and 2016, and Local Rules 2014-1 and 2016-1, and, to the
extent required by the foregoing, the U.S. Trustee's Guidelines for
Reviewing Applications for Compensation and Reimbursement of
Expenses Filed Under 11 U.S.C. Sec. 330 by Attorneys in Larger
Chapter 11 Cases effective as of November 1, 2013 (the "Appendix B
Guidelines").

Mr. Seraganian, the firm's managing partner, attests that his firm
is a "disinterested person" as that term is defined in Bankruptcy
Code section 101(14).  Osler currently neither holds nor represents
any interest adverse to the Debtors' estates, to the Unsecured
Creditors' Committee, or the Consumer Creditors' Committee; and has
no connection with any Debtor, creditor, other party-in-interest,
their respective attorneys and accountants, the U.S. Trustee, or
any person employed in the office of the U.S. Trustee.

The firm may be reached at:

     Paul Seraganian, Esq.
     Osler, Hoskin & Harcourt LLP
     Direct Dial: 212-991-2526
     E-mail: pseraganian@osler.com

                    About Ditech Holding Corp.

Ditech Holding Corporation (OTC Pink: DHCPQ) and its subsidiaries
-- http://www.ditechholding.com/-- are independent servicer and
originator of mortgage loans.  Based in Fort Washington, Pa., the
Debtors have approximately 3,300 employees and service a diverse
loan portfolio.

Ditech Holding and certain of its subsidiaries, including Ditech
Financial LLC and Reverse Mortgage Solutions, Inc., filed voluntary
Chapter 11 petitions (Bankr. S.D.N.Y. Lead Case No. 19-10412) on
Feb. 11, 2019, after reaching terms with lenders of a Chapter 11
plan that will reduce debt by $800 million.

The Debtors tapped Weil, Gotshal & Manges LLP as legal counsel,
Houlihan Lokey as investment banker and AlixPartners LLP as
financial advisor.  Epiq Bankruptcy Solutions LLC is the claims and
noticing agent.

Kirkland & Ellis LLP and FTI Consulting Inc. serve as the
consenting term lenders' legal counsel and financial advisor,
respectively.

The U.S. Trustee for Region 2 appointed an official committee of
unsecured creditors in the Debtors' cases on Feb. 27, 2019.  The
creditors' committee tapped Pachulski Stang Ziehl & Jones LLP as
its legal counsel and Goldin Associates, LLC, as its financial
advisor.

On May 2, 2019, the U.S. trustee appointed an official committee of
consumer creditors.  The consumers committee tapped Quinn Emanuel
Urquhart & Sullivan, LLP, as counsel and TRS Advisors LLC, as
financial advisor.

                          *     *     *

The U.S. Bankruptcy Court for the Southern District of New York has
approved Ditech Holding Corporation's asset purchase agreement with
New Residential Investment Corp. and stock and asset purchase
agreement with Mortgage Assets Management, LLC and its affiliate.
The Court also has confirmed the Company's Third Amended Joint
Chapter 11 Plan.

Ditech Holding entered into an asset purchase agreement under which
New Residential has agreed to acquire substantially all of the
assets of the Company's forward mortgage servicing and originations
business, Ditech Financial LLC. In addition, Mortgage Assets has
agreed to acquire certain stock and assets associated with the
Company's reverse mortgage business, Reverse Mortgage Solutions,
Inc. ("RMS"), and to maintain the current operations of RMS as a
wholly-owned subsidiary.



DOUBLE L FARMS: Plan to Pay Creditors in 10 Years; Nov. 13 Hearing
------------------------------------------------------------------
A hearing on the disclosure statement explaining the Chapter 11
plan of Double L Farms, Inc. will be held before the US Bankruptcy
Judge at the United States Courthouse, 801 E Sherman St.,
Pocatello, Idaho, on Nov. 13, 2019 at 9:00 a.m. (Mountain Time).
Objections are due 7 days prior to the time set for hearing.

A copy of the Disclosure Statement explaining the terms of the
Plan, from PacerMonitor.com, is available at https://is.gd/gOQokF

The Plan calls for the payment of all undisputed creditors over a
10-year period through revenues generated by the farming of
alfalfa, irrigated barley, non-irrigated barley, corn, potatoes as
well as through the sale of milk from the dairy cattle operation,
the sale of non-dairy cattle, and the sale of certain  real estate.
The current projections are based on Debtor's historical gross
revenues and expenses, with an assumed growth of both revenue and
expenses of 1.5% per year.  This assumption is reasonable as the
national growth for farms over the past eight years is 0.78%, and
for the past three years is 12.72%.

The Debtor proposes payment of interest only to U.S. Bank and
Zion's Bank until it sells the properties known as the "Clark" and
"Desert" properties at the end of 2021.  The proceeds from this
sale will pay U.S. Bank off completely and pay a significant
portion of the Zion's Bank loan.  The remainder of secured
creditors will receive principal and interest payments on the debt
owed them.  The unsecured creditors, owed $2,052,387, will receive
$50,000 annually, to be divided pro rata.

                     About Double L Farms

Double L Farms, Inc., is a privately-held company in Rigby,
Indiana, that operates in the farming industry.

Double L Farms sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Idaho Case No. 18-40910) on Oct. 9, 2018.  In the
petition signed by Jared Keith Lewis, president, the Debtor was
estimated to have assets of $1 million to $10 million, and
liabilities of $10 million to $50 million.  Judge Joseph M. Meier
oversees the case.  The Debtor tapped Maynes Taggart PLLC as its
legal counsel.



DSN INC: Bonebrake Buying 125-Acre Hancock Property for $600K
-------------------------------------------------------------
DSN, Inc. asks the U.S. Bankruptcy Court for the Central District
of Illinois to authorize the sale of approximately 125 acres
located in Section 29 of St. Mary Township, T.4.-R.5W., Hancock
County, Illinois to Richard S. Bonebrake for $600,000.

On Aug. 26, 2019, the Debtor entered into a real estate contract
with the Buyer, pursuant to which the Buyer, 6914 Oak Ridge Lane,
Quincy, Illinois, would purchase said property in the amount of
$600,000.  The sale will not be free and clear of liens and
encumbrances, which will be handled through the ordinary closing
process.

After payment of costs, including but not limited to the mortgage
lien, other liens of record, real estate taxes, closing costs and
real estate sales commissions, the Debtor does not expect to
receive any proceeds from the sale because its payoff balance on
the multiple cross-collateralized loans/mortgages is in excess of
the sale price.

The Debtor is of the opinion that such an offer is fair and
reasonable, and it is in the best interests of its estate.  It asks
that the Court approves said sale.

A copy of the Contract attached to the Motion is available for free
at:

         http://bankrupt.com/misc/DSN_Inc_149_Sales.pdf

                         About DSN, Inc.

DSN, Inc., based in Plymouth, IL, filed a Chapter 11 petition
(Bankr. C.D. Ill. Case No. 19-80320) on March 19, 2019.  In the
petition signed by Dennis Hellyer, president/manager, the Debtor
estimated $1 million to $10 million in both assets and liabilities.
The Hon. Thomas L. Perkins oversees the case.  B. Kip Shelby,
Esq., at Rafool Bourne & Shelby, P.C., serves as bankruptcy counsel
to the Debtor.



EB HOLDINGS II: Files for Chapter 11 With Pre-Packaged Plan
-----------------------------------------------------------
EB Holdings II, Inc., the majority shareholder of lead producer
Eco-Bat Technologies Ltd., has sought Chapter 11 protection to
implement a pre-packaged plan of reorganization.

A hearing on the Debtor's First Day Motions will be held on Oct.
10, 2019, at 1:30 (PDT) before the Honorable Mike K. Nagakawa in
the United States Bankruptcy Court for the District of Nevada.

The Bankruptcy Court will hold a hearing to consider approval of
the Disclosure Statement on Oct. 21, 2019 at 9:30 a.m. (PT).

A copy of the Disclosure Statement explaining the terms of the Plan
is available at http://bankrupt.com/misc/EBH2_DS.pdf

Eco-Bat Technologies Ltd. ("EBT"), which is into smelting,
refining, manufacturing, and marketing of lead and lead products,
is the globally largest producer of and recycler of lead.
Currently, EBT, through its various subsidiaries, has approximately
twenty-nine facilities throughout the world, located in Austria,
France, Germany, Italy, South Africa, the United Kingdom and the
United States.  Located within these twenty-nine facilities are
thirteen lead smelters: nine in Europe, three in the United States,
and one in South Africa.  EBT currently employs 3,000 people
throughout its facilities.

EBT's annual revenue in 2018 was $2.533 billion and its 2018
EBITDA, before exceptional items, was $96.6 million.  This
reflected a slight decrease from its 2017 annual revenue of $2.629
billion, with EBITDA, before exceptional items, of $ 182.5 million

EB Holdings II owns 86.811% of the outstanding ordinary shares of
privately-held EBT.  Minority shareholders are LEG Q LLC, MP PB
L.P., and Trinity Investments own the remaining shares.

                      Outstanding Liabilities

The Debtor entered into a EUR600,000,000 unsecured payment-in-kind
term loan evidenced by the PIK Loan Agreement, dated as of March
23,2007, between, inter alios, EB Holdings, Inc. (predecessor by
redomestication merger to the Debtor), the lenders from time to
time party thereto, and GLAS USA LLC as successor administrative
agent.  As of July 31, 2019, the PIK Lenders contend that the
aggregate amount outstanding under the PIK Loan was $2,494,487,827,
applying the exchange rate as of Aug. 27, 2019.

The PIK Loan has been the subject of years of litigation involving
no less than 17 claims (the "PIK Loan Claims") by the PIK Lenders
and the PIK Loan Agent, which disputes shall be consensually
resolved through the Plan.

In addition to the PIK Loan Claims, certain of the EBT Minority
Shareholders have asserted claims against Debtor and its
affiliates, including EBT and RSR (the "EBT Minority Shareholder
Claims").  Like the PIK Loan Claims, the EBT Minority Shareholder
Claims will be consensually resolved through the Plan.

The Debtor additionally has outstanding federal tax liabilities
totaling more than $4,500,000 as of the Petition Date that will be
treated and repaid through the Plan.

                      Proposed Restructuring

The Debtor entered into a series of agreements that document its
planned restructuring.

First, a Amended and Restated Transaction Agreement, dated as of
April 15, 2019, was entered into by:

   * the Debtor,

   * the QXH Parties,

   * NewCo,

   * EBT Sponsor Manager, LLC, a Delaware limited liability company
and an entity created and controlled by the Debtor's founder and
owner, Howard Meyers ("Sponsor Manager"),

   * EBT ManagerCo, LLC, a Delaware limited liability company and
an entity created and controlled by the Consenting PIK Lenders
("ManagerCo"),

   * the Consenting PIK Lenders, and

   * Mr. Meyers.

The Transaction Agreement was subsequently amended by the First
Amendment to Amended and Restated Transaction Agreement, dated as
of July 30, 2019.

Second, RSR, Quexco, NewCo, Debtor, the Consenting PIK Lenders, and
Mr. Meyers entered into a Contribution Agreement, dated as of April
15, 2019.

Third, the Debtor, the QXH Parties, NewCo, EBT, the EBT Minority
Shareholders, Sponsor Manager, ManagerCo, certain of the Consenting
PIK Lenders, and Mr. Meyers entered into a Contribution and Support
Agreement, dated as of July 30, 2019.

The Consenting PIK Lenders were represented in the negotiation of
the Transaction Agreement, the Contribution Agreement, and the EBT
Minority Contribution Agreement by an ad-hoc committee of PIK
Lenders who hold approximately 78% of the outstanding PIK Loan
Claims.

The Ad-Hoc Committee is comprised of:

    * GoldenTree, Asset Management LP,
    * Fortress Investment Group LLC,
    * Alcentra Limited,
    * Sound Point Capital Management, LP,
    * H.I.G. Bayside Capital, and
     * Varde Partners.

In sum, the Transaction Agreement, the Contribution Agreement, and
the EBT Minority Contribution Agreement provide for:

    (1) (a) Mr. Meyers to contribute, or cause to be contributed,
100% of the equity interests in Debtor and (b) RSR and Quexco to
contribute, in the aggregate, 100% of the equity interests in
Metals HoldCo, in each case of (a) and (b), to NewCo in exchange
for Class A Units ofNewCo (the "Class A Units");

    (2) a full conversion of the alleged PIK Loan debt into equity
through Class B Units of NewCo (the "Class B Units") to be held by
the Holders of the PIK Loan Claims pro rata according to their
interests in the PIK Loan Claims; and

   (c) Mr. Meyers and the EBT Minority Shareholders to contribute
their interests in EBT to NewCo in exchange for Class C Units of
NewCo ("Class C Units").

"T[he] the Ad Hoc Committee is pleased to begin a new collaboration
with Howard M. Meyers, President of EBH and Chairman/Managing
Director of Eco-Bat Technologies, Ltd. ("Eco-Bat").  After several
months of negotiations, the Ad Hoc Committee, along with other
institutions who collectively hold more than 95% in aggregate
amount of EBH's outstanding obligations under its PIK Loan, have
reached an agreement with Mr. Meyers, EBH and Eco-Bat to resolve
our differences.  To that end, a stipulation has been filed to
dismiss all pending litigation among the Ad Hoc Committee, Mr.
Meyers, EBH, and Eco-Bat, with prejudice, as the parties
collectively turn the page on a new chapter in our relationship.
As all allegations in the litigations have been dismissed, by
moving forward in this new collaboration, the parties wish to
repair the reputational damage that may have been caused by the
litigation to all those affected, including the members of the Ad
Hoc Committee and Mr. Meyers," the Ad Hoc Committee said in a
statement on July 31, 2019, following the completion of the initial
transactions.

Pursuant to the Transaction Agreement, following the consummation
of the Step One Transaction, the Debtor will commence a Chapter 11
case and seek confirmation of the Prepackaged Plan (Step Two
Transaction).  The Plan will seek, among other things, to implement
these transactions:

   (a) On the Restructuring Effective Date, 100% of the PIK Loan
Claims and the shares of EB Holdings Stock will be exchanged (and
immediately thereafter cancelled) for 86.811% of the stock in the
Reorganized Debtor (the "Reorganized EB Holdings Stock").

   (b) Immediately following the completion of the transaction, the
holders of the PIK Loan Claims will automatically be deemed,
without any action on their part, to have contributed the
Reorganized EB Holdings Stock received in clause (a) to NewCo in
exchange for their pro rata share of Class B Units (together with
clause (a) the "PIK Loan Claims Exchange").

   (c) On the Restructuring Effective Date, the Existing EB
Holdings Interests shall be canceled and the Holder of the Existing
EB Holdings Interests shall receive, in full and final
satisfaction, compromise, settlement, release, and discharge of,
and in exchange for, such Interests, 0.075% of the Reorganized EB
Holdings Stock.

   (d) The Third Amended and Restated NewCo Limited Liability
Company Agreement of NewCo, dated as of July 30, 2019 and operative
as of the date of the Restructuring Effective Date (the "Third A&R
LLC Agreement") will become effective in accordance with its
terms.

   (e) The Escrow Agreement will be terminated in accordance with
its terms, unless terminated earlier.

                             Advisors

EBH's legal advisor is Garman Turner Gordon LLP.

K&L Gates LLP; Brewer, Attorneys & Counselors; and Kasowitz Benson
Torres LLP serve as legal advisors to Mr. Meyers, Quexco and RSR.
Perella Weinberg Partners L.P. serves as their financial advisor.

The Ad Hoc Committee's legal advisor is Paul, Weiss, Rifkind,
Wharton & Garrison LLP and its financial advisor is Houlihan Lokey
Capital Inc.

GLAS USA LLC is the administrative agent under the PIK Loan.  Its
legal advisor is Wilmer Cutler Pickering Hale & Dorr LLP.

The Eco-Bat Minority Shareholders' legal advisors are Pillsbury
Winthrop Shaw Pittman LLP and Friedman Kaplan Seiler & Adelman
LLP.

                       About EB Holdings II

EB Holdings II, Inc., is a holding company with assets consisting
primarily of 1,078,993 ordinary shares of Eco-Bat Technologies Ltd,
which represent 86.811% of the outstanding ordinary shares of EBT.
EBT is a parent company for a group of companies whose core
activities are the smelting, refining, manufacturing, and marketing
of lead and lead products, with significant additional revenue
streams from a diverse range of other metals and products.  EBT is
the globally largest producer of and recycler of lead.  

EB Holdings II sought Chapter 11 protection (Bankr. D. Nev. Case
No. 19-16364) on Sept. 30, 2019, to seek confirmation of a
pre-packaged plan of reorganization.  

In the petition signed by Howard M. Meyers, president and owner,
the Debtor disclosed $1,176,337,232 in assets and $2,615,508,039 in
liabilities as of the bankruptcy filing.

The Debtor has hired Garman Turner Gordon LLP as counsel; Armory
Securities as financial advisor; and Prime Clerk LLC as claims
agent.



ELK PETROLEUM: Court Won't Rule on Panel's Sec. 502(d) Argument
---------------------------------------------------------------
Judge Laurie Selber Silverstein of the U.S. Bankruptcy Court for
the District of Delaware issued an order in connection with the
Motion of the Official Committee of Preferred Equity Security
Holders of Elk Petroleum, Inc. for entry of an order granting
derivative standing and authority to settle and prosecute claims on
behalf of the estates of the Debtors with respect to the two
discrete issues that were argued on September 12, 2019.

The Equity Committee seeks to equitably disallow the Aneth Term
Loan Obligations owed to AB Elk in Count XIX of the proposed
complaint.

The Committee seeks to disallow any proofs of claim filed by any
Defendant pursuant to § 502(d) prior to an adjudication of the
avoidance actions set forth in the Complaint in Count XXIV of the
complaint. The Committee proposes to modify Count XXIV of the
Complaint to seek disallowance only after an adjudication of such
avoidance actions.

Judge Silverstein accepts the revision and will not rule on the
Section 502(d) argument.

A full-text copy of Judge Silverstein's Ruling is available at
https://tinyurl.com/yy4k2qyf from PacerMonitor.com at no charge.

The Debtors are represented by Matthew P. Ward, Paul N. Heath,
Gregory M. Wilkes, Sarah Link Schultz, Joseph L. Sorkin, L.
Katherine Good, Mark L. Desgrosseilliers, Gregory W. Werkheiser,
and Emanuel Grillo.

                    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.


FIRED UP: Unsecureds to Get Payments Through Dec. 2028
------------------------------------------------------
Fired Up, Inc., proposes the following Plan of Reorganization and
Disclosure Statement.

Class 9 - Allowed General Unsecured Claims are impaired. Total
General Unsecured Claims with the Internal Revenue Service
unsecured claim total $1,220,094.82. Class 9 creditors will receive
payment pro-rata based on the amount of their allowed claims
beginning after all payments have been made to creditors in Classes
1 through 5 and will continue until they are paid in full or its
assets are fully monetized, and distributed which is currently
estimated to be December of 2028.

Class 3 - Allowed Claims of the Internal Revenue Service are
impaired. Debtor will pay the allowed the priority portion of these
claims bi-monthly beginning on the later of the Effective Date or
the 25th day of the first payment date after Class 1, 2, 4 and 5
claims are paid in full and continuing monthly until paid in full.
It is estimated that it will take approximately sixty (60) months
to pay the priority claim in full.

Class 4 - Allowed Claims of State and Local Taxing Authorities
(Non-Ad Valorem Taxes) are impaired. Debtor shall pay these Class 4
claims pro-rata to all Class 4 Claimants on the Effective Date
after payment in full of the Class 1, 2 and 5 Creditors. Should
there not be sufficient funds to pay this amount in full, the
remainder will be paid on the 25th day of the first month after the
Effective Date.

Class 5 - Allowed Secured Claims of Local Taxing Authorities for Ad
Valorem Property Taxes are impaired. Class 5 does not include real
property taxes for which Debtor is derivatively responsible by
virtue of its non-residential real property leases. The delinquent
real property ad valorem taxes owed by the Debtor as part of a
lease it has rejected or ultimately rejects as part of this Plan
will be paid as part of a particular landlord’s allowed general
unsecured claim pro rata along with the other creditors with Class
9 General Unsecured Claims, subject to the landlord’s compliance
with Article V and Section 5.05 in particular.

Class 6 - Secured Claim of Prosperity Bank/Estate of Creed Ford III
are impaired. Creed Ford and now the Estate of Creed Ford has
received nine (9) adequate protection payments of $15,000 each and
is expected to receive two additional adequate protection payments
of $15,000 each before the Effective Date. The probate estate will
receive $15,000 per month for eleven (11) months in full and final
settlement of the Prosperity Note, beginning on the 25th day after
the Effective Date and continuing on the 25th day of the succeeding
months for twelve (12) months. It will retain Prosperity’s lien
on the assets of the Debtor and/or the proceeds from the sale of
these assets until this sum is paid in full.

Class 8 - Secured Claim of FRG Capital, LLC are impaired. FRG
Capital has represented to Debtor that it does not desire to
receive any further payments. FRG Capital shall not receive any
distributions under the Plan.

Class 11 - Claims of The Ford Family for Debts to Independent Bank
Paid for the
Benefit of Debtor are impaired. Monthly payments to Class 10 will
begin on the 25th day of the first month after Class 9 claims have
been paid in full and continue monthly until the later of the date
that all payments on the Bluestone Notes have been paid in full and
all assets of the Debtor distributed or until this Class has been
paid in full. It is not expected that there will be sufficient
funds to pay this Class in full.

There are three Promissory Note Receivables executed by Bluestone
Holdings-related entities as part of the sale of Debtor's assets.
As discussed in Paragraph 17.02(B), there is also a $250,000
Certificate of Deposit which is security on a Letter of Credit on
an insurance policy that expired six years ago but has not been
returned less claims owed to Travelers of $124,052 and the cash
currently on hand of approximately $92.289. It is estimated that
cash on hand as of the Effective Date will be approximately
$150,000. The liquid assets and the stream of payments from the
Notes Receivable will constitute the property being disbursed under
this Plan.

A full-text copy of the Plan of Reorganization and Disclosure
Statement dated September 25, 2019, is available at
https://tinyurl.com/y2nu7ozt from PacerMonitor.com at no charge.

Attorneys For Debtor-In-Possession:

     Barbara M. Barron, Esq.
     Stephen W. Sather, Esq.
     BARRON & NEWBURGER, P.C.
     7320 North MoPac Blvd, Suite 400
     Austin, Texas 78731
     (512) 476-9103
     (512) 476-9253 (Facsimile)

                     About Fired Up Inc.

Fired Up, Inc., the Austin, Texas-based owner and operator of the
Johnny Carino's Italian restaurant chain, sought Chapter 11
bankruptcy protection (Bankr. W.D. Tex. Case No. 14-10447) on March
27, 2014, in Austin, Texas.  It estimated assets and debt of $10
million to $50 million.

As of the bankruptcy filing, Fired Up had 2,900 employees and owned
and operated 46 company-owned stores known as Johnny Carino's
Italian in seven states (Texas, Arkansas, Colorado, Louisiana,
Idaho, Kansas and Missouri) and 61 franchised or licensed locations
in 17 states and four other countries (Bahrain, Dubai, Egypt and
Kuwait).

The Debtor disclosed $10,360,877 in assets and $36,139,375 in
liabilities.

The Debtor is represented by Barbara M. Barron, Esq. and Lynn
Saarinen, Esq. at Barron & Newburger, P.C., in Austin.

The U.S. Trustee appointed a seven-member Official Committee of
Unsecured Creditors.  The Committee tapped Pachulski Stang Ziehl &
Jones LLP as its counsel, and FTI Consulting, Inc., as its
financial advisor.


FIRST QUALITY: S&P Lowers Senior Unsecured Notes Rating to 'B+'
---------------------------------------------------------------
S&P Global Ratings lowered its issue-level rating on First Quality
Enterprises Inc.'s existing $400 million 5% senior unsecured notes
due 2025 to 'B+' from 'BB-'. S&P revised the recovery rating '6',
reflecting its expectation for negligible (0%-10%; rounded estimate
0%) recovery in the event of a payment default, from '5'.

The company refinanced its existing senior secured credit
facilities with new $2.2 billion senior secured credit facilities
due 2024 (not rated), which consist of a $900 million revolver, a
$700 million term loan ,and a $600 million delayed draw term loan.
The transaction is leveraged neutral. S&P lowered the ratings on
the $400 million senior unsecured notes because secured debt in the
new proposed capital structure has increased significantly, leaving
less total value available to the unsecured claims. The company
will use net proceeds from the proposed facilities to pay existing
credit facilities and the existing $600 million senior unsecured
notes due 2021. S&P expects to withdraw its ratings on the existing
credit facilities and the existing $600 million senior unsecured
notes once they have been repaid.

All of S&P's existing ratings on the company, including its 'BB'
issuer credit rating, are unchanged. The outlook is stable.

S&P's ratings on First Quality continue to reflect the company's
defensible position, primarily as a private-label products
manufacturer in categories with stable end-user demand (notably
adult care, paper towel, tissue, and infant care), and its
satisfactory track record of organic earnings growth over the last
few years. S&P believes this is primarily driven by the addition of
efficient assets and new capacity, and good operating profit
margins. In its assessment, the rating agency also considers the
intense competition from solid, well-established branded
manufacturers and the company's customer concentration that could
weaken its bargaining power, particularly with Wal-Mart and Sam's
Club. S&P forecasts debt to EBITDA in the high-3x area in 2019 and
mid-3x area in 2020, and funds from operations to debt in the
low-20% area in 2019 and mid-20% area in 2020.

Recovery Analysis

Key analytical factors

The proposed debt capital structure consists of:

-- $900 million revolving credit facility due in 2024 (not
rated);

-- $700 million senior secured term loan A due in 2024 (not
rated);

-- $600 million senior secured delayed draw term loan A due in
2024 (not rated); and

-- $400 million 5% senior unsecured notes due in 2025.

Simulated default assumptions

S&P's simulated default scenario contemplates a default in 2024 due
to deteriorating operating performance from customer attrition,
significant excess capacity, input cost increases, and intensifying
competitive pressures. This scenario could lead to First Quality's
cash flows deteriorating substantially, triggering a payment
default.

Calculation of EBITDA at emergence:

-- Debt service: $193.5 million (default year interest plus
amortization)

-- Maintenance capex: $99 million

-- Default EBITDA proxy: $292.5 million

-- Cyclicality adjustment: $0 million (0%)

-- Preliminary emergence EBITDA: $292.5 million

-- Operational adjustment: $0 million (0%)

-- Emergence EBITDA: $292.5 million

-- S&P estimates $1.76 billion gross emergence enterprise value,
which incorporates a 6x multiple to emergence EBITDA; the multiple
is in line with those used for U.S.-based branded nondurable
issuers.

Simplified Waterfall

-- Emergence EBITDA: $292.5 million
-- Multiple: 6x
-- Gross recovery value: $1,755.1 million
-- Net recovery value for waterfall after administrative expenses
(5%): $1,667.4 million
-- Obligor/nonobligor valuation split: 95%/5%
-- Estimated priority claims: $11.9 million
-- Estimated first-lien claims: $1,940.1 million
-- Value available for first-lien claims: $1,626.3 million
-- Estimated senior unsecured claims: $723.8 million
-- Value available for unsecured claims: $29.2 million
-- Recovery range: 0%-10% (rounded estimate: 0%)

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.

  Ratings List
  
  First Quality Enterprises Inc.
  
  Issuer Credit Rating BB/Stable/--

  Issue-Level Ratings Lowered; Recovery Ratings Revised  
                        To From
  First Quality Finance Company Inc.

  Senior Unsecured B+ BB-
   Recovery Rating 6(0%) 5(25%)


FORESIGHT ENERGY: Fitch Lowers Issuer Default Rating to C
---------------------------------------------------------
Fitch Ratings downgraded the Issuer Default Ratings of Foresight
Energy LP and Foresight Energy LLC to 'C' from 'B-'. The downgrade
reflects the Oct. 1, 2019 announcement that Foresight Energy LLC
and Foresight Energy Finance Corporation elected to exercise the
30-day grace period with respect to the $24.4 million interest
payment due under the indenture governing the 11.50% second lien
senior secured notes due 2023.

If the issuers do not make the interest payment prior to the end of
the 30-day grace period, events of default will exist under
Foresight Energy LLC's credit agreement governing its first lien
senior secured credit facilities and Foresight Energy Services
LLC's master lease agreement.

The first lien senior secured credit facilities are comprised of a
$170 million revolver due 2021 and a term loan due 2022 ($743
million outstanding at June 30, 2019.) The first lien senior
secured credit facilities are guaranteed by Foresight Energy LP
(recourse limited to its pledge of stock of Foresight Energy LLC)
and all material wholly owned domestic restricted subsidiaries on a
senior secured first-priority basis. The facilities are secured on
a first-priority basis by substantially all assets of the
guarantors except where third party consent is required.

The second lien senior secured notes benefit from guarantees on a
senior secured second-priority basis from the wholly owned domestic
restricted subsidiaries that guarantee the first lien credit
facilities. The notes are secured on a second-priority basis by
substantially all assets of the guarantors except where third party
consent is required.

Fitch believes a distressed debt exchange or bankruptcy is likely.

KEY RATING DRIVERS

Limited Access to Capital: Total debt-to-EBITDA was 5.3x for the
LTM June 30, 2019 compared with 5.0x at Dec. 31, 2018. Higher
leverage resulted from weaker earnings given deterioration in the
export market following disrupted shipments earlier in the year as
well as higher capex as a result of development at Hillsboro.
Leverage could increase further depending on the recovery of port
logistics and ability to cut costs and capital spending. Fitch
believes the ability to repay debt is limited.

In addition, Fitch observes that access to debt capital markets
transactions has been limited even for lower leveraged coal
producers.

Tight Liquidity: At June 30, 2019, cash on hand was $3 million and
$45 million was available under the revolver (after $12.3 million
in letters of credit). Interest on the second lien notes aggregates
$49 million per year compared with LTM EBITDA of $278 million, LTM
capex of $114 million and remaining interest at about $98 million.
Fitch expects capex to be reduced below our previous expectations
of an average of $86 million per year. Fitch anticipates that the
company would have sufficient liquidity to support operations
during a restructuring.

DERIVATION SUMMARY

Foresight Energy LLC's (IDR C) EBITDA margins in the 20% compare to
Illinois Basin coal producer Alliance Resource Operating Partner
LP's (IDR BBB-) EBITDA margins in the low 30% and base metal peer
First Quantum Minerals Limited's (IDR B) EBITDA margins in the low
40%. Foresight is smaller and less diversified than both Alliance
and First Quantum with higher leverage than Alliance and less
deleveraging capacity than First Quantum. Foresight Energy has
entered a 30-day grace period for interest due on its second lien
notes.

KEY ASSUMPTIONS

Recovery Assumptions and analysis:

  -- The recovery analysis assumes that Foresight Energy LLC. will
be reorganized as a going concern in bankruptcy rather than
liquidated.

  -- Fitch assumes a 10% administrative claim.

  -- Fitch assumes that the sale-leaseback of reserves and
equipment, the longwall leases and capital leases have priority
over the first-lien bank facilities. The $130 million Macoupin
sale-leaseback is recourse to Macoupin and not recourse to
Foresight Energy LP or any of its other subsidiaries. The $64
million Sugar Camp sale-leaseback is recourse to Sugar Camp only.

  -- Fitch assumes the $170 million revolver is fully drawn.

  -- Fitch assumes a sustainable, post-restructuring EBITDA level
of about $212 million to reflect a weakening from 2018 cycle-high
exports but benefiting from lower transportation costs than 2019
levels as river and port conditions normalize.

  -- Fitch assumes an enterprise value (EV) multiple of 5x which
compares to average industry levels of about 4.5x to reflect the
better margins and operating profile of Illinois Basin producers.
Estimated Midpoint EV/Post-Emergence EBITDA Estimate multiples
according to Fitch's report "Energy, Power and Commodities
Enterprise Value and Creditor Recoveries" published April 30, 2019
ranged from 3.1x for Westmoreland Coal Company to 5.7x for Arch
Coal, Inc.

  -- The allocation of value in the liability waterfall results in
roughly 80% recovery corresponding to 'RR2' for the $170 million
first lien revolver and the $743 million first lien term loan and a
Nil recovery corresponding to 'RR6' for the $425 million second
lien notes. If a 4.5x EV multiple was used, the recovery for the
first lien credit facilities would be roughly 71%, all other
assumptions unchanged.

RATING SENSITIVITIES

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

  -- Total adjusted debt-to-EBITDAR drops below 6x on a sustained
basis;

  -- FCF is expected to remain positive on average.

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

  -- A distressed debt exchange will result in a rating of 'RD' and
then a re-rating of affected instruments. A bankruptcy will result
in an IDR of 'D'.

LIQUIDITY AND DEBT STRUCTURE

Limited Liquidity: At June 30, 2019, cash on hand was $3 million
and $45 million was available under the revolver (after $12.3
million in letters of credit). LTM June 30, 2019 interest costs
were $147 million compared with LTM EBITDA of $278 million and LTM
capex of $114 million. Fitch expects capex to be reduced below its
previous expectations of an average of $86 million per year.

SUMMARY OF FINANCIAL ADJUSTMENTS

Fitch has made no financial statement adjustments that depart
materially from those contained in the published financial
statements of Foresight Energy LP.


FOREVER 21: Taps Prime Clerk as Claims Agent
--------------------------------------------
Forever 21, Inc., received approval from the U.S. Bankruptcy Court
for the District of Delaware to hire Prime Clerk LLC as claims and
noticing agent.

The firm will oversee the distribution of notices and the
maintenance, processing and docketing of proofs of claim filed in
the Chapter 11 cases of the company and its affiliates.

Prime Clerk will charge these hourly fees:

     Claim and Noticing Rates:

     Analyst                             $30 - $50
     Technology Consultant               $30 - $90
     Consultant/Senior Consultant        $65 - $165
     Director                           $170 - $190
     COO/Executive VP                    No charge  

     Solicitation, Balloting and Tabulation Rates:

     Solicitation Consultant               $190
     Director of Solicitation              $210

Prior to the petition date, the Debtors provided Prime Clerk an
advance payment in the amount of $100,000.

Benjamin Steele, vice president of Prime Clerk, disclosed in a
court filing that his firm is "disinterested" as defined in Section
101(14) of the Bankruptcy Code.

Prime Clerk can be reached through:

     Benjamin J. Steele
     Prime Clerk LLC
     One Grand Central Place
     60 East 42nd Street, Suite 1440
     New York, NY 10165
     Mobile: 646-240-7821
     Email: bsteele@primeclerk.com

                         About Forever 21

Founded in 1984, and headquartered in Los Angeles, California,
Forever 21, Inc. -- http://www.forever21.com/-- is a fast fashion
retailer of women's, men's and kids clothing and accessories and is
known for offering the hottest, most current fashion trends at a
great value to consumers.  Forever 21 delivers a curated assortment
of new merchandise brought in daily.

As of the bankruptcy filing, the Debtors operated 534 stores under
the Forever 21 brand in the U.S. and 15 stores under beauty and
wellness brand, Riley Rose.

On Sunday, Sept. 29, 2019, Forever 21, Inc. and 7 of its U.S.
subsidiaries each filed a voluntary petition for relief under
Chapter 11 of the United States Bankruptcy Code (Bankr. D. Del.
Lead Case No. 19-12122).

According to the petition, Forever 21 has estimated liabilities on
a consolidated basis of between $1 billion and $10 billion against
assets of the same range.

The Debtors tapped Kirkland & Ellis LLP as legal advisor; Alvarez &
Marsal as restructuring advisor; and Lazard as investment banker;
and Pachulski Stang Ziehl & Jones LLP as local bankruptcy counsel.
Prime Clerk is the claims agent.


FRANK INVESTMENTS: Cash Collateral Hearing Continued on Nov. 21
---------------------------------------------------------------
Judge Erik P. Kimball the U.S. Bankruptcy Court for the Southern
District of Florida has entered a Sixth Interim Order granting
Frank Investments, Inc., authority to use cash collateral through
and including the date of the continued hearing on Nov. 21, 2019 at
10:30 a.m.

The Debtor will be entitled to use cash collateral to pay all
ordinary and necessary expenses in the ordinary course of its
business for the purposes contained in the budget. The Debtor is
also authorized: (a) to exceed any line item on the Budget by an
amount equal to 10% of each such line item; or (b) to exceed any
line item by more than 10% so long as the total of all amounts in
excess of all line items for the Budget do not exceed 10% in the
aggregate of the total Budget.

The Debtor is prohibited from using cash collateral: (a) to make
any prepayments with respect to services which were not yet
rendered, goods that have not been received, or any other item for
which payment is not currently due, (b) to pay any increases in
salaries or compensation for employees, (c) to pay any part or
portion of pre-petition claims (other than pre-petition wage claims
as approved and Ordered by the Court), or (d) to pay any fees for
professionals.

The Bancorp Bank is granted a post-petition security interest and
lien in, to and against any and all assets of the Debtor, to the
same extent and priority that Bancorp held a properly perfected
pre-petition security interest in such assets, and only to the
extent that Bancorp's cash collateral is used by the Debtor.
However, under no circumstances will Bancorp have a lien on any
causes of action arising under 11 U.S.C. Sections 542 et seq., 547,
548, 549, 550, 551, or any of the Debtor's assets that it did not
have a right to prepetition.

By the 10th day of the following month, the Debtor will provide
Bancorp with (i) monthly profit and loss statements with respect to
the Debtor and its affiliates/sister entities; (ii) a monthly
expense report and weekly income/deposit report for the Debtor and
its affiliates/sister entities, which details the name of each
payee/payor, the date of each payment or deposit, and amount; and
(iii) any and all documents and disclosures as required by the loan
documents within five business days of Bancorp's request to counsel
for the Debtor.

A copy of the Sixth Interim Order is available for free at

              http://bankrupt.com/misc/flsb18-20019-398.pdf

                     About Frank Investments

Each of Frank Investments, Frank Theatres and Frank Entertainment
is an affiliate of Rio Mall, LLC, which sought bankruptcy
protection (Bankr. S.D. Fla. Case No. 18-17840) on June 28, 2018.
Rio Mall, LLC, owns and operates commercial real property that
comprises the shopping center known as Rio Mall located at 3801
Route 9 South, Rio Grande, New Jersey.

Frank Entertainment Companies, LLC owns, operates, develops and
manages entertainment venues including nickelodeons, motion picture
theatres, arcades, restaurants, nightclubs, water parks, bowling
centers, game centers, skate parks, and other real estate
properties.

Frank Investments, Inc., based in Jupiter, FL, and its affiliates
sought Chapter 11 protection (Bankr. S.D. Fla. Lead Case No.
18-20019) on Aug. 17, 2018.  The Hon. Erik P. Kimball (18-20019),
and Hon. Mindy A. Mora (18-20022 and 18-20023) oversee the cases.


In the petitions signed by Bruce Frank, president, Frank
Investments and Frank Entertainment each was estimated to have $10
million to $50 million in assets and liabilities; Frank Theaters
was estimated to have $10 million to $50 million in assets and $50
million to 100 million in liabilities.

Bradley S. Shraiberg, Esq., at Shraiberg Landau & Page, P.A.,
serves as bankruptcy counsel to the Debtors.

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


FREEDOM FOODS: Unsecureds to Recover 40% in 5 Years
---------------------------------------------------
Freedom Foods, a nonprofit corporation, has filed a reorganization
plan that provides for payments to creditors from its future
operating income.  The Plan has a five-year term and proposes to
pay the secured claim in full and to pay general unsecured
creditors 40% of the allowed amount of their claims

The Debtor will pay general unsecured creditors 40% of the allowed
amount of the allowed amount of their claims in quarterly
distributions beginning on the last day of the first full calendar
quarter following the Effective Date.  The Debtor estimates that
the aggregate amount unsecured claims will be $840,000; that the
aggregate amount of distributions on account of Class 2 claims will
be $336,000 and the amount of quarterly distributions are estimated
to be $16,800.

On the Effective Date, the Debtor shall continue to conduct its
operations in the ordinary course.

A full-text copy of the Disclosure Statement dated September 30,
2019, is available at https://tinyurl.com/yxzoakbz from
PacerMonitor.com at no charge.

                      About Freedom Foods

Freedom Foods, which was organized in 2015 to engage in the
distribution of nutrition-rich food products for individuals and
families in need, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Minn. Case No. 19-31112) on April 11,
2019.  At the time of the filing, the Debtor had estimated assets
of less than $50,000 and liabilities of less than $1 million.  The
case has been assigned to Judge Kathleen H. Sanberg.  The Debtor
tapped Joseph W. Dicker PA as its legal counsel.


GARRETT LIMESTONE: New Enterprise Objects to Disclosure Statement
-----------------------------------------------------------------
New Enterprise Stone & Lime Co., Inc., submits the following
objection to the proposed Disclosure Statement to Accompany Joint
Chapter 11 Plan of Reorganization of Garrett Limestone Company,
Inc. and Neiswonger Construction, Inc.

According to NESL, a disclosure statement "must clearly and
succinctly inform the average unsecured creditor what it is going
to get, when it is going to get it, and what contingencies there
are to getting its distribution."

NESL points out that the Disclosure Statement should state clearly
and definitively whether the Debtor shall seek to assume the Mine
Lease under the Plan, or whether it intends to attempt to divest
NESL of its rights as lessor and fee simple owner of the Mine.

NESL complains that the Disclosure Statement should be amended to
clearly and definitively reflect the intended disposition of the
Mine Lease.

NESL asserts that the Disclosure Statement fails to provide
adequate information regarding the feasibility of the Plan.

According to NESL, the Disclosure Statement should be modified
accordingly so that the attendant risks are clearly explained.

NESL points out that the Disclosure Statement makes no mention of
the estate’s potentially valuable Recovery Actions against
insiders of the Debtor.

Counsel to New Enterprise Stone & Lime Co., Inc.:

     Michael G. Connelly
     PEPPER HAMILTON LLP
     501 Grant Street, Suite 300
     Union Trust Building
     Pittsburgh, PA 15219-4429
     Telephone: (412) 454-5000
     Fax: (412) 281-0717
     E-mail: connellym@pepperlaw.com

        -- and --

     Todd A. Feinsmith
     19th Floor, High Street Tower
     125 High Street
     Boston, MA 02110-2736
     Telephone: (617) 204-5100
     Fax: (617) 204-5150
     E-mail: feinsmitht@pepperlaw.com

                 About Garrett Limestone Co.

Garrett Limestone Company, Inc. --
https://www.garrettlimestone.com/ -- specializes in providing
homeowners, businesses, and institutions with natural limestone and
crushed stone.

Garrett Limestone Company sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. Pa. Case No. 19-70352) on June 11,
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 Jeffery A. Deller.  Campbell
& Levine, LLC, is the Debtor's bankruptcy counsel.


GATEWAY RADIOLOGY: Secureds to Get Paid at 5% Interest Over 10 Year
-------------------------------------------------------------------
Gateway Radiology Consultants P.A. and PM Radiology, LLC filed with
the U.S. Bankruptcy Court for the Middle District of Florida, Tampa
Division, a disclosure statement explaining their joint plan of
reorganization.

Allowed secured claim to paid over 10 years at 5% interest
$12,102.08 while Allowed unsecured claim to be paid over 20 years
in equal monthly payments $7854.66.
Class 5 Secured Claim to get $80,000 paid over 60 months interest
at 6% $ 1,546.62 month starting September 25, 2019, as adequate
protection. Allowed unsecured claims will be paid 5% in equal
monthly payments disbursed quarterly; payments beginning month
after effective date over 60 months.

Payments and distributions under the Plan will be funded by the
Debtor by the ongoing operation of the business and Philips is
expected to make a substantial payment.

A full-text copy of the disclosure statement dated September 24,
2019, is available at: https://tinyurl.com/y53yws6q from
PacerMonitor.com free of charge.

The Debtors are represented by Joel M. Aresty, Esq., in Tierra
Verde, Florida.

                 About Gateway Radiology Consultants

Gateway Radiology Consultants P.A., based in Saint Petersburg,
Florida, filed a Chapter 11 petition (Bankr. M.D. Fla. Case No.
19-04971) on May 28, 2019.  In the petition signed by Gagandeep
Manget M.D., president, the Debtor disclosed $1,200,000 in assets
and $14,899,135 in liabilities as of the bankruptcy filing.  The
Hon. Michael G. Williamson oversees the case.  Joel M. Aresty,
P.A., serves as bankruptcy counsel to the Debtor.  Beighley Myrick
Udell and Lynne; and Paul C. Jensen, Attorney-At-Law, serve as
special counsel.


GOLASINSKI HOMES: Secured Creditors Impaired Under Plan
-------------------------------------------------------
Golasinski Homes LLC filed a Plan of Reorganization and Disclosure
Statement on Sept. 30, 2019.

All of the Debtor's claims are classified as secured since each
creditor claims a security interest in the Debtor's real
properties.  There are no classes of priority or general unsecured
creditors since there no such claimholders.

The Plan proposes to treat secured claims and interest holders as
follows:

   * Class 2 Secured tax claim of Clear Creek ISD are impaired.
The Class 2 Claim is for the 2018 assessment of ad valorem taxes in
the amount of $1,665.74 on the real property located at 10107
Sagedale, Houston, TX 77089.  The Claim Holder will retain its
statutory lien on the real property.  The claim shall be paid at
the statutory rate of 12% per annum commencing July 2019.  The
claim shall be paid in full no later than 60 days after the
Effective Date of the Plan.

   * Class 7 Secured claim of Recon Construction, LLC are impaired.
The Claim Holder asserts a claim in the amount of $13,452.00 and a
lien on the real property located at 1822 Tannehill, Houston, TX
77008. The Debtor disputes the amount of the Claim Holder's claim
and the validity of the Claim Holder's lien.  In the event the
Claim Holder's claim is allowed as a secured claim, the Claim
Holder will be paid the amount of its allowed secured claim in full
30 days after a final order allowing its secured claim.  In the
event the Claim Holder's lien is voided so that its claim becomes
unsecured, the Claim Holder’s unsecured claim will not be paid
under the Plan unless the Claim Holder files its claim by the
claims deadline of October 7, 2019.

   * Class 8 Secured claim of Seguro Assets, LLC are impaired.  The
Claim Holder shall be paid $790,000 on or before the Effective Date
of the Plan in full satisfaction of its claim.  Upon acceptance of
the payment of $790,000, the Reorganized Debtor will release the
Claim Holder for any causes of action or liability arising from the
loan transaction and/or the servicing of the loan.

   * Class 9 Secured claim of Sykes Equity, LLC are impaired.  The
Claim Holder shall retain its lien on the real property located at
10107 Sagedale, Houston, TX 77089. The Debtor shall cure any
default in the payments to the Claim Holder required under the Note
and Deed of Trust on or before the Effective Date.  The Debtor will
maintain the payments to the Claim Holder required under the Note
and Deed of Trust that become due on or after the Effective Date.

   * Class 10 Interests of Timothy Golasinski, William Golasinski
and Jeanne Golasinski are impaired.  The Interest Holders will
retain their interests in the Debtor, as the Reorganized Debtor,
subject to and remaining after the payment of all administrative
expenses claims and US Trustee Fees, and the satisfaction of all
claims in Classes 1 through 9.

The source of funding in the Plan for the claims secured by the
real properties at 1803 and 1822 Tannehill is revenue generated
from the sale of these properties.  The source of funding in the
Plan for the claims secured by the real property located at 10107
Sagedale will be from capital contributions by the members of the
Reorganized Debtor, Timothy Golasinski, William Golasinski and
Jeanne Golasinski.  However, the Debtor may use any net funds from
the sale of the Tannehill properties to fund Plan payments on 10107
Sagedale provided that the claims against those properties are paid
in full.

A full-text copy of the Plan of Reorganization and Disclosure
Statement dated Sept. 30, 2019, is available at
https://tinyurl.com/y2mneues from PacerMonitor.com at no charge.

                      About Golasinski Homes

Golasinski Homes LLC owns in fee simple three real estate
properties in Harris County, Texas, with a total current value of
$1.41 million.

Golasinski Homes sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Texas Case No. 19-33035) on June 2,
2019.  At the time of the filing, the Debtor disclosed $1,410,129
in assets and $1,004,609 in liabilities.  The case has been
assigned to Judge Jeffrey P. Norman.  David L. Venable, Esq., is
the Debtor's bankruptcy attorney.


GREENE AVENUE: Nationstar Objects to Amended Disclosure Statement
-----------------------------------------------------------------
Nationstar Mortgage LLC, d/b/a Mr. Cooper as Servicer for U.S. Bank
National Association, as Trustee for Specialty Underwriting and
Residential Finance Trust Mortgage Loan Asset-Backed Certificates,
Series 2007-BC2, holds a mortgage on Greene Avenue Restoration II
Corp.'s real property, and by and through its attorneys, Shapiro,
DiCaro & Barak, LLC, objects to approval of the proposed amended
disclosure statement filed by the Debtor.

It is apparent that the information contained in the Disclosure
Statement is significantly inadequate. The inadequacies include,
but are not limited to (i) the failure to provide a clear
description of how Nationstar's claim will be treated in the Plan;
(ii) the improper classification of Nationstar's claim in
contravention of 11 U.S.C. Section 1122(a); (iii) Debtor's failure
to provide the circumstances that caused the bankruptcy filing;
(iv) Debtor's failure to put forth a feasible Plan; and (v) the
failure of Debtor to identify the purpose of the filing of the
instant Chapter 11.

It is unclear as to how Debtor intends on funding its Plan or if
any alleged funder has assets sufficient to fund the Plan. Based on
the foregoing, Debtor has provided insufficient and inadequate
information as to how the Plan will be funded.

The Debtor is represented by Avrum J. Rosen of Rosen, Kantrow &
Dillon, PLLC while Nationstar is represented by Barbara Dunleavy of
Shapiro, DiCaro & Barak, LLC.

            About Greene Avenue Restoration Corp.

Greene Avenue Restoration Corp. sought protection under Chapter 11
of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 17-45394) on Oct.
19, 2017.  Judge Carla E. Craig presides over the case.  At the
time of the filing, the Debtor estimated assets and liabilities of
less than $1 million.  The Debtor hired Rosen, Kantrow & Dillon,
PLLC as its legal counsel.


GRIFFITH FARMS: Oct. 30 Plan Confirmation Hearing
-------------------------------------------------
Griffith Farms, JV, Roy Eugene Griffith, and Ann Rose Griffith
filed with the U.S. Bankruptcy Court for the Northern District of
Texas, Abilene Division, a disclosure statement on September 23,
2019.

All objections to the disclosure statement proposed by the Debtor
must be filed on or before October 18, 2019. A hearing is set for
October 30, 2019, at 1:30 p.m. to consider the chapter 11
disclosure statement of the Debtors.

The Debtors are represented by:

     Max R. Tarbox, Esq.
     Tarbox Law, P.C.
     2301 Broadway
     Lubbock, Texas 79401
     Tel: 806/686-4448
     Fax: 806/368-9785

                    About Griffith Farms

Griffith Farms, JV, is a privately held company in Hawley, Texas,
that operates in the crop farming industry.  Griffith Farms sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. N.D.
Tex. Case No. 19-10048) on March 15, 2019.  At the time of the
filing, the Debtor estimated assets of between $10 million and $50
million and liabilities of between $1 million and $10 million.  The
case is assigned to Judge Robert L. Jones.  RUSSELL GUTHRIE OF EDIE
BAILLY, LLP, is the Debtor's counsel.


GUERRERO DELI: Implements New Menu to Attract More Customers
------------------------------------------------------------
Guerrero Deli & Restaurant, Inc., files a Plan of Reorganization
proposing to pay creditors.  The Debtor has implemented new menu
and is seeking the attraction of more customers other than Mexican
patrons and/or customers to increase the income of the business.

Class 3 - Non-priority unsecured creditors are impaired. All
non-priority unsecured claims allowed under Section 502 of the
Code.  Class 4 - Equity security holders of the Debtor.

A full-text copy of the Plan of Reorganization dated September 25,
2019, is available at https://tinyurl.com/y5qpgtxw from
PacerMonitor.com at no charge.

               About Guerrero Deli & Restaurant

Guerrero Deli & Restaurant, Inc., filed a Chapter 11 bankruptcy
petition (Bankr. D.N.J. Case No. 18-23840) on July 10, 2018,
disclosing under $1 million in both assets and liabilities. The
Debtor hired Tomas Espinosa, Esq., as counsel.


HY-TECH PLUMBING: Nov. 4 Plan Confirmation Hearing
--------------------------------------------------
HY-Tech Plumbing Contractors, Inc. filed with the U.S. Bankruptcy
Court for the Southern District of Texas, Houston Division, a
disclosure statement explaining its plan under chapter 11 of the
Code.

The court ordered that:

* The disclosure statement filed by Debtor on August 12, 2019, is
approved.

* October 28, 2019, is fixed as the last day for filing written
acceptances or rejections of the plan referred to above.

* October 28, 2019, is fixed as the last day for filing and serving
pursuant to Fed. R. Bankr. P. 3020(b)(1) written objections to
confirmation of the plan.

* November 4, 2019, at 3:00 p.m. is fixed for the hearing on
confirmation of the plan.

Hy-Tech Plumbing Contractors, Inc., sought Chapter 11 protection
(Bankr. S.D. Tex. Case No. 19-30787) on Feb. 11, 2019.  The Debtor
tapped Julie Mitchell Koenig, Esq., at Cooper & Scully, PC, as
counsel.


ICH INTERMEDIATE: S&P Assigns 'B+' Long-Term ICR, Outlook Stable
----------------------------------------------------------------
S&P Global Ratings said it assigned its 'B+' long-term issuer
credit rating on Puerto Rico-focused managed care company ICH
Intermediate Holdings II L.P. (d/b/a InnovaCare). The outlook is
stable.

S&P also assigned its 'B+' debt ratings to InnovaCare's proposed
senior secured first-lien credit facilities, which include an $80
million five-year revolver and a $550 million seven-year term loan.
InnovaCare's downstream holding companies, MMM Holdings LLC, ICH US
Intermediate Holdings II Inc., and ICH Flow-Through LLC will be
issuing the debt on a co-borrower basis.

InnovaCare's key credit strengths are its No. 1 Medicare Advantage
(MA) and No. 2 Medicaid market shares in Puerto Rico (PR);
interrelated competitive advantages, namely its high brand
awareness, consistently high MA Star quality ratings (4.5 for
2020), and well-established, integrated health plan/provider model;
good operating margins (projected run-rate return on revenues of
5%-5.5% in 2019-2021); and solid debt service and coverage metrics
(projected financial obligations-to-debt ratio of 2x-2.5x and
EBITDA fixed-charge coverage of 4x-5x in 2020). InnovaCare's
relatively new MA health plan and primary care business in Florida
are not significant earnings contributors yet, but they provide
potential growth and diversification benefits.

S&P said, "We forecast revenue of $3.3 billion-$3.5 billion in
2019, $3.5 billion-$3.7 billion in 2020, and $3.7 billion-$4
billion in 2021. We expect adjusted EBITDA and EBIT margins of
5.5%-6% and 5%-5.5%, respectively, in 2019-2021. We expect
financial leverage of 35%-40% by year-end 2019, 30%-35% by year-end
2020, and 25%-30% by year-end 2021; financial obligations-to-EBITDA
of 2.5x-3x in 2019, 2x-2.5x in 2020, and 1.5x-2x in 2021; and
EBITDA fixed-charge coverage of 3.5x-4x in 2019, 4x-5x in 2020, and
5x-6x in 2021. We expect regulated capital to remain 'BBB'
deficient in 2019-2021."

S&P could lower its rating by one notch in 2020 based on the
following scenarios:

-- Adjusted EBIT margin deteriorates on a sustained basis,
reflecting competitive position weakening and/or
higher-than-expected medical or operating costs.

-- The 'BBB' capital deficiency deteriorates further due to lower
retained regulated capital and/or higher debt (driving excess debt
funded double-leverage).

-- Financial leverage and financial obligations-to-EBITDA ratio
deteriorate and stay above 40% and 4x, respectively, and EBITDA
fixed-charge coverage deteriorates and stays below 4x due to
weaker-than-expected earnings, slower-than-expected debt repayment,
sponsor dividends, and/or debt-funded acquisitions.

S&P is unlikely to raise its rating in 2020. However, it could
raise the rating by one notch based on the following scenarios:

-- InnovaCare's business risk profile improves significantly based
on revenue/earnings growth, greater diversification, higher
run-rate adjusted EBIT margin, and better PR-related operating
conditions (including Medicaid funding stability).

-- Capital redundancy improves to 'BBB' on a sustained basis due
to higher retained regulated capital and/or lower debt (driving
less excess debt funded double-leverage).



INVEST IN AMERICA: S&P Cuts 2017A Revenue Bonds Rating to 'BB+'
---------------------------------------------------------------
S&P Global Ratings lowered its rating on the series 2017A bonds to
'BB+ (sf)' from 'A (sf)' and its rating on the subordinate series
2017B multifamily housing revenue bonds to 'B+ (sf)' from 'BBB
(sf)' issued by the Louisiana Local Government Environmental
Facilities and Community Development Authority (The Cove at Nola
Apartments). The outlook is negative.

"The rating action reflects our opinion of the project's
deteriorating finances," said S&P Global Ratings credit analyst Kib
Park. This is evidenced by fiscal 2018 debt service coverage (DSC)
of 1.19x and 1.02x on the 2017A and 2017B bonds, respectively, due
to higher uncontrollable operating expenses such as taxes,
utilities, and insurance.

The rating reflects S&P's view of the project's:

-- Adequate and vulnerable financial strength for the senior 2017A
and subordinate 2017B bonds, respectively, based on audited fiscal
2018 DSC of 1.19x and 1.02x maximum annual debt service (MADS) on
the 2017A and 2017B bonds, respectively;

-- Vulnerable and highly vulnerable loss coverage on the 2017A and
2017B bonds, respectively, indicated by a loan-to-value (LTV) ratio
of 113%; and

-- adequate operating performance, as it has a 90% economic
occupancy rate.

Only partially offsetting the above weaknesses is S&P's view of the
project's:

-- Good asset quality with no deferred maintenance at the property
and average physical condition and curb appeal; and

-- Debt service reserve fund (DSRF) sized at approximately
$571,700 and half of MADS on the bonds.

The 300-unit multifamily project known as Cove at Nola is in New
Orleans. The majority of the units at the property are reserved for
tenants with annual incomes at or below 80% of the local area
median income with 40% reserved for tenants with low income of less
than 60% of area median income. Bond proceeds were loaned to the
borrower, AVHG Cove LLC, a Louisiana limited liability company,
whose sole member is Invest in America's Veterans Foundation Inc.
(IAVF), a Florida nonprofit corporation. A portion of the bond
proceeds were used to fund the DSRF, sized at six months' MADS, and
to make $219,000 in property improvements. Major capital
improvements for the property were completed in January 2014.

The negative outlook reflects S&P's view of the decreased DSC and
increased LTV and its view that uncontrollable operating expenses
such as taxes, insurance and utilities are unlikely to decrease in
the outlook period.

Improvement in the project's net operating income, DSC, and loss
coverage from decreasing operating expenses such as taxes,
insurance, and utilities could lead S&P to raise the rating.

Higher-than-expected operating expenses and a lower economic
occupancy rate could lead to negative rating actions. A decline in
DSC below 1.10x would cap the rating at 'BB+' and a decline in DSC
below 1x would cap the rating at 'B+.'


JAMES GARRISON: Tims Buying 2006 Ford F250 SRW Super for $6K
------------------------------------------------------------
James Michael Garrison asks the U.S. Bankruptcy Court for the
Northern District of Alabama to authorize the sale of his 2006 Ford
F250 SRW Super, VIN ending in 6204, to Ben Tims for $6,000.

The Debtor has entered into an agreement with Tims for the purchase
of the personal property.  The personal property is subject to no
liens, mortgages or other interests.

The sale is not in the ordinary course of the Debtor's business,
and is an arms'-length transaction.

The Debtor proposes to use the sale proceeds to overhaul the engine
on a 2004 Peterbilt financed with Liberty Bank, which is idle
awaiting the repairs.  The total cost for parts and labor will be
$16,555.  If he's unable to sell the property and use the proceeds
to repair the 2004 Peterbilt, he will be without sufficient income
to service the debt to Liberty Bank.    

A copy of the Agreement attached to the Motion is available for
free at:

         http://bankrupt.com/misc/James_Garrison_156_Sales.pdf

The Purchaser:

          Ben Tims
          691 Zion Hill Road
          Horton, AL 35980

James Michael Garrison sought Chapter 11 protection (Bankr. N.D.
Ala. Case No. 18-41820) on Oct. 26, 2018.  The Debtor tapped
Tameria S. Driskill, Esq., as counsel.


JHS VENTURES: Unsecureds to Get $40K Over 24 Months at 3% Per Annum
-------------------------------------------------------------------
JHS Ventures LLC submits a Disclosure Statement.

Class 5. Unsecured creditors with claims exceeding $2,500.00 are
impaired. The Debtor will pay $40,000.00 to unsecured creditors
with valid and proven claims exceeding $2,500.00. An amount $20,000
shall be paid within 12 months of the date of confirmation and an
amount of $20,000.00 within 24 months of the date of confirmation,
Such amount shall be paid an a prorata basis and shall be paid with
interest at 3% per annum.

Class 2. IRS are impaired. The secured claim will be paid prior to
confirmation, Beginning 30 days after the date of confirmation„
and continuing on the same day of each month thereafter, the Debtor
shall pay IRS $2,000.00 on the Prepetition unsecured priority
claim. Any amount unpaid as of May 27, 2024, shall be fully paid to
IRS at such time.

Class 3. ADORE are impaired. Beginning 30 days after the date of
confirmation, and continuing On the same day of each month
thereafter[ the Debtor shall pay ADOR $1,500.00 on the prepetition
unsecured priority claim.

Class 4. DES are impaired. The Debtor shall pay DES $200.00 per
month until the unsecured priority claim of DES is paid, Interest
shall be paid at 3% per annum. The Debtor's failure to comply with
the Plan provisions concerning the liability owed to DES shall
constitute a default of the Plan, which includes, but is not
limited to, the failure to make the full and timely payment file a
tax return, or pay a postpetition
tax liability timely.

Class 6. Unsecured creditors with claims of or less are impaired.
The Debtor Will pay unsecured creditors with valid and proven
claims of $2,500.00 or less an amount of 20% of such claim within
30 days of the date of confirmation. An unsecured creditor holding
a valid and proven claim exceeding $2,500.00 can elect to reduce
such claim to $2,500.00 and be treated in this Class.

Class 7. Owner are impaired. STETSER will contribute a total of
$10,000.00 to assist in consummation of the Plan, It is the belief
of STETSER that if a Chapter 7 occurs, there will be absolutely no
funds left for unsecured creditors, Due to the amounts of
administrative, tax and unsecured claims, STETSER believes no net
value will be applicable for the Debtor for an extensive period of
time. Such sum of $10,000.00 shall be contributed within 6 months
of the date of confirmation. A prepetition amount of $41,651.64 is
due STETSER; no amount will be paid to STETSER under the Plan
regarding such sum.

The Debtor typically has cash on hand of approximately $1,500. The
presence balance of the bank deposit is approximately $25,000.00.

A full-text copy of the Disclosure Statement dated September 25,
2019, is available at https://tinyurl.com/yxveezea from
PacerMonitor.com at no charge.

Attorneys for Debtor:

     Donald W. Powell, Esq.
     CARMICHAEL & POWELL, P.C.
     6225 North 2+ Street, 125
     Phoenix, Arizona 85016
     Phone: (602) 861-0777

                   About JHS Ventures

JHS Ventures LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Ariz. Case No. 19-06528) on May 28,
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 Madeleine C. Wanslee.  Carmichael &
Powell, P.C., is the Debtor's legal counsel.


JOE HASH: Delp Buying 1/3 Interest in Crockett Property for $130K
-----------------------------------------------------------------
Joe Allen Hash asks the U.S. Bankruptcy Court for the Western
District of Virginia to authorize the sale of his one-third
undivided interest in the real estate located at 810 Kiser Road,
Crockett, Virginia to Ann T. Delp for $130,400.

Respondent Treasurer of Wythe County, Virginia, holds an inchoate
tax lien on the property.

At the time of the filing of the Chapter 11 case, the Debtor
believed that he was the owner of a one-third undivided interest as
a result of the purchase of property, at a foreclosure sale,
prepetition, as a tenant in common with Dwight Davis Goforth and
Garnett Lynn Goforth.  It was discovered that a deed transferring
to him the undivided interest had not actually been written and
recorded.  The deed has now been written and recorded (Exhibit A).

Since that foreclosure sale and the purchase of the property by the
Debtor and his co-owners, the Buyer, who has no relationship to the
Debtor, made an offer of $126,400 to acquire the property.  The tax
ticket shows no taxes currently being due and shows the tax
identification number.

Since the time of the filing of the Debtor’s second amended
motion to sell on Aug. 20, 2019, the Buyer and the Debtor entered
into an addendum to the contract of purchase dated June 11, 2019.
The addendum amends the original purchase price of $126,400 to
$130,400, with the sellers agreeing to pay up to $4,000 of the
Buyer's closing costs.  It also extends the date for closing of the
transaction to Sept. 30, 2019.

Prior to the filing of the Debtor's first motion and then second
amended motion to sell the property, G & G Livestock, LLC had paid
all expenses related to the subject property.  The Debtor, in his
first, and subsequent, second amended motion, did not include a
provision requesting that G & G be reimbursed at closing for its
payment of those expenses.  The expenses totaled $12,382, as
evidenced by the general ledger history for the company (Exhibit
E).  The Debtor respectfully asks that G & G be reimbursed at the
time of closing.  The Debtor, nor his co-debtor, hold an interest
in G & G.

As a part of what will be his Chapter 11 Plan, the Debtor and his
co-owners caused the property to be marketed for sale, with the net
proceeds from the sale to be used by him as part of his plan, after
payment of his portion of the closing costs, including Grantor's
tax ($42), and his portion of any prorated real estate taxes (not
to exceed $100).  

No realtor will earn a commission.

The sale of the property is in the best interest of the estate and
will expedite the conclusion of the Chapter 11 case.  

The Debtor asks the Court to shorten the noticing requirement for
hearing on the Motion.

The Debtor asks that the Court enter an order approving the sale of
the subject property, and he'd be allowed to receive the net
proceeds of the sale, after payment of his portion of the Grantor's
tax and prorated portion of the real estate taxes, and after all
other expenses of closing are paid, including reimbursement as
outlined above to G & G, and that the time for noticing hearing on
the Motion be shortened.

A copy of the Agreement attached to the Motion is available for
free at:

         http://bankrupt.com/misc/Joe_Hash_61_Sales.pdf

Joe Allen Hash and Felicia Rhudy Hash sought Chapter 11 protection
(Bankr. W.D. Va. Case No. 19-70820) on June 13, 2019.  The Debtors
tapped Robert Tayloe Copeland, Esq., at Copeland Law Firm, P.C., as
counsel.


JOHN S WON: Ascentium Capital Objects to Disclosure Statement
-------------------------------------------------------------
Ascentium Capital LLC files its objection to the disclosure
statement and to confirmation of the chapter 11 plan of John S Won
MD PA, each filed by the Debtor on or about About 14, 2019.

In support of its objection, Ascentium respectfully shows the Court
the following:

   * Ascentium is a creditor and party in interest in this
proceeding. As outlined in its Proof of Claim filed on May 8, 2019,
as Claim No. 3, Ascentium holds a claim against the Debtor in the
amount of $242,455.22, plus interest.  

   * Debtor did not list Ascentium's claim on its schedules and
filed an objection to Ascentium’s claim on or about August 26,
2019.

   * Ascentium objects to Debtor's Disclosure Statement because it
fails to provide adequate information regarding Debtor’s
operations, whether and to what extent Dr. Won's individual
practice, which shares the same trade name as Debtor, is
financially connected to Debtor, and Debtor's assumption of the
assets and liabilities of DDS PA.

   * Ascentium further objects because it cannot tell what
distribution unsecured claimants will receive under the Plan
because there is no analysis of the amount of the unsecured claims
filed in the case.

   * Ascentium also objects to confirmation of the Plan because it
is not fair and equitable to unsecured creditors and it violates
the Absolute Priority Rule.

Ascentium Capital is represented by:

     Byron L. Saintsing, Esq.
     Smith Debnam Narron Drake
     Saintsing & Myers, L.L.P.
     PO Box 176010
     Raleigh, NC 27619-6010
     Tel: (919) 250-2000
     Email: bsaintsing@smithdebnamlaw.com

John S. Won MD PA, filed a voluntary Chapter 11 Petition (Bankr.
E.D.N.C. Case No. 19-01719) on April 16, 2019, and is represented
by George F. Sanderson, Esq., at The Sanderson Law Firm, PLLC.


JOY ENTERPRISES: Sysco Jackson Objects to Disclosure Statement
--------------------------------------------------------------
Sysco Jackson, LLC, files its objection to Joy Enterprises, Inc.'s
Disclosure Statement.

Sysco asserts that the Disclosure Statement and Plan contain
certain provisions that render the Plan unconfirmable as a matter
of applicable law, and that are therefore appropriate to bring to
the Court’s attention at the disclosure statement phase of the
plan confirmation process.

Sysco points out that the Disclosure Statement fails to provide
that the Claim will be paid in full or to state when the Claim will
be paid.

According to Sysco, as effectively acknowledged in the Plan,
administrative expense claims must be paid in full at the time of
confirmation in order to confirm a plan of reorganization.

Counsel for Sysco Jackson, LLC:

     R. Scott Williams, Esq.
     RUMBERGER, KIRK & CALDWELL, P.C.
     2001 Park Place, Suite 1300
     Birmingham, AL 35203
     Telephone: (205) 327-5550
     Facsimile: (205) 326-6786
     swilliams@rumberger.com

                 About Joy Enterprises Inc.

Joy Enterprises Inc., a domestic corporation that operates Subway
restaurants in Alabama, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Ala. Case No. 19-10092) on January 17,
2019.  At the time of the filing, the Debtor disclosed $384,617 in
assets and $4,684,019 in liabilities.   

The case has been assigned to Judge William R. Sawyer.  Collier H.
Espy, Jr., Esq., at Espy, Metcalf & Espy, P.C., is the Debtor's
legal counsel.

No official committee of unsecured creditors has been appointed in
the Debtor's case.


JTJ RESTAURANTS: Court Conditionally Approves Disclosure Statement
------------------------------------------------------------------
The Disclosure Statement filed by JTJ Restaurants, Inc. is
conditionally approved.

The hearing on final approval of the disclosure statement and
confirmation of the plan has been set on November 14, 2019 at 1:30
p.m., in United States Bankruptcy Court 1515 N. Flagler Drive, 8th
Floor, Courtroom A, West Palm Beach, FL 33401.

November 8, 2019 is fixed as the last day for filing and serving
written objections to the disclosure statement and confirmation of
the plan (three business days before the confirmation hearing).

                     About JTJ Restaurants
                 and Byrd Restaurants-Royal Palm

JTJ Restaurants, Inc., and Byrd Restaurants-Royal Palm, Inc.,
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
S.D. Fla. Lead Case No. 19-12990) on March 6, 2019.  In the
petitions signed by Jerome Byrd, president, JTJ Restaurants each
estimated up to $50,000 in assets and $1 million to $10 million in
liabilities.  The Debtors are represented by Brian K. McMahon,
P.A., as counsel.


KAISER GYPSUM: Asbestos Trust to Get $49MM Cash, $1MM Note
----------------------------------------------------------
Kaiser Gypsum Company, Inc. and Hanson Permanente Cement, Inc.
filed with the U.S. Bankruptcy Court for the Western District of
North Carolina, Charlotte Division, a disclosure statement
explaining their third amended joint chapter 11 plan of
reorganization.

Each allowed claim holder in Class 1 will receive an equal amount
of cash to such allowed claim unless the holder accords to less
favorable treatment.  Three shall receive an equal amount of cash
to such allowed claim which includes any post-petition interest as
the bankruptcy court orders unless the claim order accords to less
favorable treatment.
The asbestos trust to be created under the Plan will be funded with
a $49 million cash payment by the Debtors and Lehigh Hanson, plus a
$1 million note, as well as the assignment of the Debtors' rights
under insurance policies covering Asbestos Personal Injury Claims.


The Debtors' agreement with the United States also resolved the
following claims filed by the Ash Grove Cement Co. on behalf of the
United States: (a) Proof of Claim No. 648, EPA in the amount of
$325,000 against Kaiser Gypsum; (b) Proof of Claim No. 653, EPA in
the amount of $325,000 against HPCI; (c) Proof of Claim No. 651,
NOAA in the amount of $50,000 against Kaiser Gypsum; (d) Proof of
Claim No. 650, NOAA in the amount of $50,000 against HPCI; (e)
Proof of Claim No. 649, DOI in the amount of $50,000 against Kaiser
Gypsum; and (f) Proof of Claim No. 652, DOI in the amount of
$50,000 against HPCI.

In particular, the estimated aggregate Allowed amount of General
Unsecured Claims is $72,055,928. Pursuant to the settlements with
insurers resolving the Debtors' claims for
environmental insurance coverage, the insurers will pay a total of
$50.1 million to the Debtors. The Debtors believe that this amount,
together with Lehigh Hanson's agreed contribution of up to $28.15
million, will be sufficient to satisfy the estimated aggregate
Allowed amount of General Unsecured Claims.

A full-text copy of the Third Amended Disclosure Statement is
available at https://tinyurl.com/y5nlq5z3 from PacerMonitor.com at
no charge.

The Debtors are represented by Edwin Harron and Sharon Zieg of
Young Conaway Stargatt & Taylor, LLP and Felton Parish of Hull &
Chandler.

                 About Kaiser Gypsum

Kaiser Gypsum Company, Inc., and affiliate Hanson Permanente
Cement, Inc. sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. W.D.N.C. Case Nos. 16-31602 and 16-10414) on Sept. 30,
2016.  The petitions were signed by Charles E. McChesney, II,
vice-president and secretary.

The companies are represented by Rayburn Cooper & Durham P.A. and
Jones Day.  Cook Law Firm, P.C. and K&L Gates LLP serve as special
insurance counsel; NERA Economic Consulting as consultant; Miller
Nash Graham & Dunn LLP as special environmental and insurance
counsel; and PricewaterhouseCoopers LLP as financial advisors.

At the time of the bankruptcy filing, Kaiser and Hanson estimated
their assets and liabilities at $100 million to $500 million.  

Kaiser's principal business consisted of manufacturing and
marketing gypsum plaster, gypsum lath and gypsum wallboard.  The
company has no current business operations other than managing its
legacy asbestos-related and environmental liabilities.  The company
has no material tangible assets.

HPCI's primary business was the manufacture and sale of Portland
cement products. It is a wholly-owned, indirect subsidiary of
non-debtor Lehigh Hanson, Inc.

HPCI is the direct parent of Kaiser Gypsum as well as non-debtor
Hanson Micronesia Cement, Inc. and non-debtor Hanson Permanente
Cement of Guam, Inc., the operating subsidiaries.  Non-debtor
Permanente Cement Company, which has no assets or operations, is
also a wholly-owned subsidiary of HPCI.

The Office of the U.S. Trustee appointed three creditors to serve
on the official committee of unsecured creditors in the Chapter 11
case of Kaiser Gypsum Company, Inc.  The Creditors Committee hired
Blank Rome LLP as counsel, and Moon Wright & Houston, PLLC.

An Official Committee of Asbestos Personal Injury Claimants
retained Caplin & Drysdale, Chartered, as its counsel.

Lawrence Fitzpatrick, the Future Claimants' Representative, tapped
Ankura Consulting Group, LLC as his claims evaluation consultant;
Young Conaway Stargatt & Taylor, LLP as attorney; and Hull &
Chandler, P.A. as local counsel.


KING FARMS: Nov. 7 Hearing on Disclosure Statement
--------------------------------------------------
The hearing to consider the approval of the Disclosure Statement of
King Farms will be held on November 7, 2019 at 9:30 a.m. at 111 S.
Highland, Jackson, TN, Room 342.

Objections to the disclosure statement can be filed at any time
prior to the actual approval of the disclosure statement.

     Attorney for Debtor:

     Thomas Harold Strawn, Jr.
     Strawn Law Firm
     400 W Masonic Street
     Dyersburg, TN 38024

                        About King Farms

King Farms sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. W.D. Tenn. Case No. 19-10139) on Jan 22, 2019.  The
case has been assigned to Judge Jimmy L. Croom.  Strawn Law Firm is
the Debtor's legal counsel.


KK SUB II: Clarifies Source of Funds for Plan Payments
------------------------------------------------------
KK Sub II, LLC, asks the U.S. Bankruptcy Court for the Southern
District of Texas, Houston Division, to issue an order approving
its modification to combined plan and disclosure statement.

The Debtor filed its combined plan of liquidation and disclosure
statement on September 5, 2019. On September 9, 2019, the Court
entered an Order which conditionally approved the disclosure
statement, authorized the Debtor to solicit votes for the Plan, and
set a final hearing for approval of the disclosure statement and
confirmation of the Plan on November 19, 2019.

On September 23, 2019, the Debtor filed a notice of the proposed
Modifications. The Modifications (i) add additional information
about the pre-petition litigation between the Debtor and Sherilee
Figueroa which also involved Jennifer Hammel; (ii) make minor
corrections o definitions to comport with the Plan; (iii) clarify
the source of funds and treatment of creditors under the Plan; and
(iv) redefine, by consent, the treatment to class 7 equity
interests.

A copy of the combined plan and disclosure statement is available
at: https://tinyurl.com/yyqd63rp from PacerMonitor.com free of
charge.

The Debtor is represented by Vianey Garza, Melissa A. Haselden and
Deirdre Carey Brown of Hoover Slovacek LLP.

                      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.


LIVE NATION: Moody's Rates Proposed $1.85BB Secured Loans 'Ba1'
---------------------------------------------------------------
Moody's Investors Service assigned Ba1 ratings to Live Nation
Entertainment, Inc.'s proposed $500 million senior secured
revolving credit facility, $400 million senior secured delayed draw
term loan A and $950 million senior secured term loan B, and also
assigned a Ba3 rating to the company's proposed $950 million senior
unsecured notes.

Live Nation's Ba2 corporate family rating, Ba2-PD probability of
default rating, Ba3 ratings on its senior unsecured notes, SGL-1
speculative grade liquidity rating, and stable outlook remain
unchanged. The Ba1 ratings on the company's existing senior secured
revolving credit facility, senior secured term loan A and senior
secured term loan B, and the Ba3 rating on its existing 5.375%
senior unsecured notes will be withdrawn when the transaction
closes.

Live Nation plans to use the net proceeds to repay amounts
outstanding under its existing credit facilities, redeem existing
5.375% senior unsecured notes and fund present and future
acquisitions. The transaction will increase debt by about $550
million and leverage (adjusted Debt/EBITDA) will rise to 4.2x from
4.1x at LTM Q2/2019.

Ratings Assigned:

  $500 million Senior Secured Revolving Credit Facility due 2024,
  Ba1 (LGD2)

  $400 million Senior Secured Delayed Draw Term Loan A due 2024,
  Ba1 (LGD2)

  $950 million Senior Secured Term Loan B due 2026, Ba1 (LGD2)

  $950 million Senior Unsecured Notes due 2027, Ba3 (LGD4)

RATINGS RATIONALE

Live Nation's Ba2 CFR benefits from: (1) stable and predictable
cash flow; (2) good scale and market position; (3) very good
liquidity; and (4) expectations that leverage will be sustained
below 4x (pro forma 4.2x for LTM Q2/2019) through the next 12 to 18
months. However, the company is constrained by: (1) a lack of
publicly articulated capital structure target and risks that its
acquisition growth strategy will elevate leverage periodically; and
(2) event risks, such as shareholder distributions, new ticketing
competitors, and regulatory changes addressing the company's
substantial market position or mandated consumer protection
initiatives.

Live Nation's social risk is elevated. The company's leading market
position results in periodic adverse publicity related to both
consumer protection and anti-competitive behavior. Some consumer
protection issues arise from situations in which professional
resellers use their competitive advantage (large staffs of people
and/or automated purchasing capabilities) to access large
quantities of tickets, and individual consumers perceive themselves
as having been squeezed out of the market. These lead to periodic
calls for regulatory intervention and although the company has not
been sanctioned, credit concerns exist.

Live Nation's governance risk is elevated. The company has a
growth-by-acquisition strategy, which is not supported with a
publicly disclosed leverage target. This creates uncertainty as to
the extent to which leverage will rise with future acquisitions.

Live Nation has very good liquidity (SGL-1). Sources exceed $2.3
billion while it has no mandatory debt maturities in the next
fourquarters. Liquidity is supported by about $1.6 billion of cash
when the transaction closes (excluding about $780 million at June
30, 2019 to be remitted to performing artists), full availability
under its new $500 million revolving credit facility due in 2024
and expected free cash flow of more than $200 million in the next
fourquarters. Moody's considers a portion of the company's large
cash balance as dry powder to fund future opportunistic
acquisitions. Moody's expects more than 30% cushion under financial
covenants. Live Nation has limited ability to generate liquidity
from asset sales.

The stable outlook is based on Moody's expectation that the company
will continue to maintain very good liquidity and will manage its
acquisition risk prudently and grow EBITDA such that leverage will
be sustained below 4x in the next 12 to 18 months.

For an upgrade to be considered, the company must continue to
demonstrate stable operating performance and maintain very good
liquidity while sustaining Debt/EBITDA towards 3x (pro forma 4.2x
for LTM Q2/2019) and FCF/Debt above 10% (pro forma 8% for LTM
Q2/2019). The company could be downgraded if Debt/EBITDA is
sustained above 4x (pro forma 4.2x for LTM Q2/2019) and FCF/Debt
below 5% (pro forma 8% for LTM Q2/2019). Weak liquidity, likely due
to negative free cash flow generation for an extended period could
also cause a downgrade.

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

Live Nation Entertainment, Inc., headquartered in Beverly Hills,
California, operates a leading live entertainment ticketing and
marketing company (Ticketmaster), owns, operates and/or exclusively
books venues and promotes live entertainment with operations in
North America, Europe, Asia and South America. In addition, Live
Nation has long term relationships with several globally recognized
performing artists under contracts of varying scope and duration.
Annual revenue exceeds $11 billion.


MINUANO COMUNICACOES: Chapter 15 Case Summary
---------------------------------------------
Chapter 15 Debtor:   Minuano Comunicacoes e Producoes
                     Editorias Ltda., Diario de Sao Paulo
                     Comunicacoes Ltda., Editora Fontana
                     Ltda., and Cereja Servicos de Midia
                     Digital Ltda.
                     1011 Avenida Marques de Sao Vicente
                     Sao Paulo, Brazil

Chapter 15
Petition Date:       October 1, 2019

Court:               United States Bankruptcy Court
                     Southern District of Florida (Miami)

Chapter 15 Case No.: 19-23184

Judge:               Hon. Laurel M Isicoff

Foreign
Representative:      Joice Ruiz Bernier, AJ Consultoria
                     Empresarial Ltda.
                     Rua Lincoln Albuquerque
                     259 C.J. 131
                     Perdizes, Sao Paulo
                     Brazil

Debtor's
U.S. Counsel:        Bruno De Camargo, Esq.
                     SEQUOR LAW, P.A.
                     1001 Brickell Bay Drive, 9th Floor
                     Miami, FL 33131
                     Tel: 305372-8282
                     E-mail: bdecamargo@sequorlaw.com

                            - and -

                     Arnoldo B. Lacayo, Esq.
                     SEQUOR LAW, P.A.
                     1001 Brickell Bay Drive
                     9th Floor
                     Miami, FL 33131
                     Tel: 305-372-8282
                     Fax: 305-372-8202
                     E-mail: alacayo@sequorlaw.com

Estimated Assets:    Unknown

Estimated Debts:     Unknown

A full-text copy of the petition is available for free at:

          http://bankrupt.com/misc/flsb19-23184.pdf


MOHIN ENTERPRISES: Has Authority on Interim Cash Collateral Use
---------------------------------------------------------------
Judge Christine M. Gravelle of the U.S. Bankruptcy Court for the
District of New Jersey authorized Mohin Enterprises, Inc., to use
the cash collateral.

As of the Petition Date, the Debtor is indebted to Investors Bank.
This indebtedness is secured by security interests and collateral
but a question has arisen as to the priority of the security
interest of Investors Bank as against the interest of 7-Eleven
Corp. which the Debtor has represented controls all of the Debtor's
cash collateral.

Investors Bank is granted replacement perfected security interest
to the extent cash collateral is used by the Debtor, to the extent
and with the same priority in the Debtor's postpetition collateral,
and proceeds thereof, that Investors Bank held in the Debtor's
prepetition collateral.

The Debtor will also pay to Investors Bank $1,300 per month or 40%
of the gross profit, whichever is greater, which payment will be
made within 3 business days of Debtor's receipt of payment from
7-Eleven Corp.

The Debtor is directed to provide to Investors Bank's counsel
within 3 business days of the Debtor's receipt copies of all
financial reports sent to the Debtor by 7-Eleven Corp.

Any interested party having any objection to the terms of the
Interim Order becoming a final order will file with the Court and
serve upon counsel of the Debtor on or before Oct. 8, a written
objection and will appear to advocate said objection at a Final
Hearing to be held on Oct. 15, 2019 at 2:00 p.m.

                    About Mohin Enterprises

Mohin Enterprises, Inc., operates a 7-Eleven franchise in Monmouth
County, New Jersey.  It filed a Chapter 11 bankruptcy petition
(Bankr. D.N.J. Case No. 19-25690) on Aug. 13, 2019.  Judge
Christine M. Gravelle oversees the Debtor's bankruptcy case.
BROEGE, NEUMANN, FISCHER & SHAVER LLC is counsel to the Debtor.


NATALJA VILDZIUNIENE: Wants to Use Rents to Pay Mortagages/Bills
----------------------------------------------------------------
Natalja Vildziuniene asks the U.S. Bankruptcy Court for the
Northern District of Illinois to authorize the interim use, for the
period of Sept. 1, 2019, through Sept. 30, 2019, of the rents that
she collects from the Chicago, Illinois parcels located on N.
Ottawa, N. Plainfield, and N. Nordica, to service payments on the
first mortgages for all of the parcels and pay utilities.

Prior to filing her petition, Ms. Vildziuniene's financial affairs
were manipulated by family members and this manipulation, inter
alia, caused debt to be placed in her name.  At the time that she
filed her petition, Ms. Vildziuniene was engaged in an appeal from
her marital dissolution action and in litigation in both the
Chancery and Law Division of the Circuit Court of Cook County.  Ms.
Vildziuniene sought relief under the Code to reorganize her
affairs.  

Ms. Vildziuniene holds interests in four parcels of property in
Illinois.  Each of the parcels have mortgages recorded against
them.   The parcels, mortgage holders, and original balances
(SunTrust has provided a current balance and that is shown below
instead of the original loan amount), as shown:

     Realty          Holder     Loan balance   Estimated value
     ------          ------     ------------   ---------------

   208 N. Dee,      SunTrust      $461,951       $711,000
   Park Ridge      Ayres Law      $ 25,000
  
    3224 N.        Towd Point     $130,000       $260,000
  Ottawa, Chicago    Newtek       $145,000
                       SBA        $ 40,700

     3543 N.         Ocwen        $146,000       $283,000
  Plainfield         Newtek       $145,000
   Chicago

    3659 N.          Ocwen        $144,000     $270K to $290K
    Nordica,         Celtic       $190,000
   Chicago

The estimated values are based upon online sources and Ms.
Vildziuniene has not provided them to represent actual or binding
values.  She has provided the estimated values to provide
conditional information for parties in interest and the Court.  In
the event of any dispute over value of any of the parcels, Ms.
Vildziuniene may introduce evidence to support an estimate of
value.  Ms. Vildziuniene has attached title commitments from
Chicago Title Insurance Co. for the parcels (sans Commitment
Conditions, Wire Fraud Alert, and Privacy Notice).

Ms. Vildziuniene did not execute mortgages for Newtek or for the
SBA.  She is contesting the validity of those mortgages.   

Newtek has commenced a foreclosure and Ms. Vildziuniene is
contesting that foreclosure.  She also contests Kevin P. LaRoe
holding any valid interest in any of the parcels.  These disputes
underlie litigation in which Ms. Vildziuniene was engaged when she
filed her petition.  She is not asking to adjudicate those disputes
in the Motion; she is providing parties in interest with an
overview for purposes of addressing the Motion.   

Ms. Vildziuniene is renting the parcels located on N. Ottawa, N.
Plainfield, and N. Nordica to third parties with rental payments
due in the following amounts: (i) 3224 N. Ottawa - $1,725; (ii)
3543 N. Plainfield - $1,650; and (iii) 3659 N. Nordica - $1,700.

Ms. Vildziuniene is also presently current on remitting monthly
payment for the first mortgages upon all four of the parcels, in
the following amounts:  (i)  208 N. Dee (SunTrust) - $3,084; (ii)
3224 N. Ottawa (Towd Point) - $741; (iii) 3543 N. Plainfield
(Ocwen) - $795; and (iv) 3659 N. Nordica (Owen) - $749.

Some or all of the holders of the mortgages set forth may assert
liens in or upon rents that Ms. Vildziuniene is collecting from the
respective parcels.  She has filed the Motion to both notify
parties of her intent to use those rents as follows and obtain an
interim order from the Court authorizing her to do so.

Specifically, the Debtor aks interim authority to use rents that
she collects commencing in September, to service payments on the
first mortgages for all of the parcels and pay utilities in the
estimated amount of $460 for the N. Dee parcel, and for the period
of Sept. 1, 2019, through Sept. 30, 2019.  The tenants pay
utilities for parcels where they rent.  Ms. Vildziuniene
anticipates some income from former employment to cover any
shortfall on servicing the foregoing expenses.     

Ms. Vildziuniene has experience in the bath & kitchen remodeling
business and she intends to utilize future income from that field
to fund a chapter 11 plan.   

Ms. Vildziuniene also proposes to provide the following to parties
asserting mortgages in or upon the parcels:  

     A. Permit parties asserting mortgages to inspect, upon
reasonable notice and the convenience of respective tenants, and
within reasonable business hours, the parcels.  

     B. Maintaining and paying premiums for insurance on the
parcels - no payments are due in September.

A hearing on the Motion is set for Sept. 4, 2019 at 10:00 a.m.

Natalja Vildziuniene sought Chapter 11 protection (Bankr. N.D. Ill.
Case No. 19-22967) on Aug. 14, 2019.  The Debtor tapped Bruce E
de'Medici, Esq., as counsel.


NORTHWEST ACQUISITIONS: Moody's Lowers CFR to Caa1, Outlook Neg.
----------------------------------------------------------------
Moody's Investors Service downgraded Northwest Acquisitions ULC's
corporate family rating to Caa1 from B3, Probability of Default
Rating to Caa1-PD from B3-PD, its first lien secured rating to B2
from B1, and its second lien secured rating to Caa1 from B3. The
ratings outlook was changed to negative from stable.

"Northwest's ratings have been downgraded because the mine life of
its assets does not extend much past its 2022 bond maturity date,
and a challenging diamond price environment has weakened its
ability to generate cash and left the company with limited internal
sources to fund mine development", said Jamie Koutsoukis, Moody's
Vice-President, Senior Analyst.

Downgrades:

Issuer: Northwest Acquisitions ULC

  Corporate Family Rating, Downgraded to Caa1 from B3

  Probability of Default Rating, Downgraded to Caa1-PD from B3-PD

  Senior Secured First Lien Revolving Credit Facility, Downgraded
  to B2 (LGD2) from B1 (LGD2)

  Senior Secured Second Lien Notes, Downgraded to Caa1 (LGD4)
  from B3 (LGD4)

Outlook Actions:

Issuer: Northwest Acquisitions ULC

  Outlook, Changed To Negative From Stable

RATINGS RATIONALE

Northwest's Caa1 CFR is driven by 1) weak liquidity, as its
leverage covenant will again be breached in Q4 2019 unless
Northwest produces a mine plan and negotiates a new covenant level,
2) a short mine life (production drops materially in 2023) coupled
with the revolver maturity in November 2021 and the $550 million
second lien debt maturity in November 2022, with no plan to extend
mine life, 3) a continued weak rough diamond price environment that
limits the company's ability to fund needed mine development, 4)
new management that lacks diamond mining experience, 5) the
opaqueness of diamond pricing, including the managed supply-demand
characteristics of this luxury good and the disruption synthetic
diamonds could have on the market, and 6) concentration risk (one
mineral, two co-located mines). The company benefits from its
favorable mining jurisdiction (Canada), and from cost reductions
from recent restructuring efforts.

The company has weak liquidity, as it is unlikely to meet its
leverage covenant in Q4/2019 and the terms of the credit facility
will need to be negotiated at that time after Northwest has
delivered a new mine plan to its credit facility lenders. Sources
of liquidity include $75 million of cash June 2019, and $41 million
of availability on its $200 million credit facility maturing
November 2021 (availability has been temporarily reduced to $150
million by the credit facility lenders in the second quarter of
2019 after a covenant breach; $50 million is drawn; and $59 million
in letters of credit are posted as of Q2/19). Moody's expects that
Northwest will generate $20 million of free cash flow over the next
fourquarters, however this does not include any spending required
to extend mine life.

Following the covenant breach in Q2 2019, Northwest negotiated a
revised net leverage ratio of 3.5x from 2.25x for June 30, 2019 and
September 30, 2019. However the covenant step downs to 2.0x in Dec
2019, which Moody's doesn't expect the company to meet. Moody's
expects adjusted net debt to EBITDA of 3.2x at year end 2019.

Northwest has CAD289 million in surety bonds outstanding for
reclamation obligations to the government of the Northwest
Territories. Rio Tinto, the operator of the Diavik diamond mine has
requested pre-funding for Northwest's 40% share of the full
reclamation costs of that mine, the majority of which will be
incurred post-2023 until the end of mine life. Northwest has
declined to advance the requested first and second quarter 2019
installments for a total of $19 million and is in discussions with
Rio Tinto to come to a solution.

Since the company was taken private in October 2017, earnings and
guidance accuracy has been weak, and the lack of a plan to extend
mine life remains a credit risk. Its rating does not take into
consideration any support from the Washington Companies.

The negative outlook reflects the execution risk of Northwest
developing a plan to extend mine life, obtaining sources to fund
the development and negotiating the terms of its credit facility to
prevent further covenant breaches.

The ratings could be downgraded if uncertainty increases over the
company's ability to remain in compliance with its credit facility
covenants past Q3/19, if operating performance fails to improve in
2020, or if management is unable to develop a credible plan for
extending mine life past 2023, coupled with funding and liquidity
for that plan. A downgrade would also be likely if Northwest was
likely to undertake a distressed exchange of debt.

A higher rating would require Northwest to develop a credible plan
for extending mine life past 2023, coupled with funding and
liquidity for that plan, address its ability to comply with its
credit facility covenants past 2019, and is able to execute
improved operating performance, including the generation of
sustainable positive free cash flow.

Northwest Acquisitions ULC, was purchased from public shareholders
in October 2017, and is ultimately owned by the Roy Dennis
Washington Trust. It owns an 89% interest in and operates the Ekati
diamond mine and holds a 40% ownership interest in the Diavik
diamond mine, operated by Rio Tinto plc., both located in the
Northwest Territories of Canada. Revenues in 2018 were $700
million.

The principal methodology used in these ratings was Mining
published in September 2018.


O'LINN SECURITY: Authorized to Use Cash Collateral Until Dec. 31
----------------------------------------------------------------
Judge Scott C. Clarkson of the U.S. Bankruptcy Court for the
Central District of California authorized O'Linn Security
Incorporated to use cash collateral in the ordinary course on an
interim basis through Dec. 31, 2019 pursuant to the terms contained
in the Stipulation between Debtor and Pacific Premier Bank.

                    About O'Linn Security Inc

O'Linn Security Incorporated sought Chapter 11 protection (Bankr.
C.D. Cal. Case No. 19-17085) on Aug. 13, 2019, estimating both
assets and liabilities of less than $1 million.  Steven R. Fox,
Esq., and W. Sloan Youkstetter, Esq., at The Fox Law Corporation,
Inc., serve as the Debtor's counsel.


PALMETTO CONSTRUCTION: Seeks to Hire Congeni Law Firm as Counsel
----------------------------------------------------------------
Palmetto Construction Services, LLC, seeks approval from the U.S.
Bankruptcy Court for the District of New Jersey to hire Congeni Law
Firm, LLC, as its legal counsel.

The firm will provide legal services primarily relating to the
preparation of disclosure statement and plan of reorganization and
not day-to-day administration of the Debtor's Chapter 11 case,
which will remain with its primary bankruptcy counsel, Geist Law,
LLC.

Leo Congeni, Esq., the firm's attorney who will be providing the
services, charges an hourly fee of $250.  The retainer fee is
$5,000.

Congeni Law Firm and its attorneys are "disinterested" within the
meaning of Section 101(14) of the Bankruptcy Code, according to
court filings.

The firm can be reached through:

     Leo Congeni, Esq.
     Congeni Law Firm, LLC
     424 Gravier Street
     New Orleans, LA 70130
     Phone: 504-522-4848
     Fax: (914) 992-0378
     Email: leo@congenilawfirm.com

                   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.  Andrew L. Kramer,
LLC, and Jerome Pellerin, PLC, serve as special counsel.


PANGEA INDUSTRIES: Michael Hardwick Hired as Bankr. Counsel
-----------------------------------------------------------
Pangea Industries, Inc. asks the U.S. Bankruptcy Court for the
Southern District of Texas for permission to employ the office of
Michael Hardwick Law, PLLC as counsel to the Debtor.

The Debtor engaged the office of Michael Hardwick Law, PLLC after
determining it needed bankruptcy relief.  The Debtor believes
Hardwick Law is knowledgeable in the areas of bankruptcy, small
business restructuring, and small business management.  Hardwick
Law will provide counsel and guidance so the Debtor may carry out
its duties as debtor-in-possession in this chapter 11 case, while
also reorganizing its debt and offering guidance with operational
changes and improvements.

As counsel, Hardwick Law will provide the Debtor with services
including, but not limited to:

     a) Advise the Debtor regarding its rights, duties and powers
as a debtor-in possession in this proceeding;

     b) Appear before the Bankruptcy or any other court to
represent the interests of the Debtor as is required;

     c) Attend the Initial Debtor Interview, if required, with the
Debtor;

     d) Attend the meeting of creditors with the Debtor;

     e) Assist the Debtor with proposing, prosecuting, and
consummating a chapter 11 Disclosure Statement and Plan of
Reorganization;

     f) Prepare any and all pleadings, as deemed appropriate, to be
filed in this case;

     g) Assist the Debtor with the resolution of claims filed
against the estate, preservation and disposition of assets of the
estate, the prosecution of actions taken on behalf of the estate,
and resolution of other disputes that may arise during this case;

     h) Advise the Debtor regarding business finances,
transactions, and the daily operations of the businesses as a
debtor-in-possession; and

     i) Perform any other legal services that may be deemed
appropriate in connection with this case.

Hardwick Law will apply for compensation for professional services
rendered on an hourly basis and seek reimbursement of reasonable
and necessary expenses incurred in connection with the Debtor's
chapter 11 case.  The firm will bill standard hourly rates in
effect at the time services are rendered.  The Debtor believes
these rates represent the current market rates for comparable legal
services in this District.

The hourly rates for the firm's professionals and paralegals
providing services to the Debtors in connection with this case are:


Michael L. Hardwick   $350.00 per hour
  Managing Attorney  
  
Paralegals (as needed)   $150.00 per hour

Prior to the filing of the case, Hardwick Law received $11,000 from
the Debtor.  Legal services rendered prior to the bankruptcy filing
totaled $3,785 and costs incurred in connection with the filing of
the Chapter 11 petition totaled $1,767.

Hardwick Law has therefore invoiced $5,552 in contemplation of the
Debtor's restructuring and commencement of this proceeding.   On
the petition date, the firm held unapplied funds attributable to
pre-petition payments made by the Debtor in the amount of $5,448.

Pursuant to Local Rule 2016-1(b), Hardwick Law is seeking
permission to obtain additional retainer funds of $2,500 per month
from the Debtor to be deposited into the firm's trust account.

Mr. Hardwick attests that his firm is a "disinterested person" as
that term is defined by Sec. 101(14) of the Bankruptcy Code.

                      About Pangea Industries

Houston, Texas-based Pangea Industries, Inc., f/b/d/a Leblanche
Industries, Inc., is a fabrication service provider that
specializes in supplying an array of services to major and
independent companies in the oil and gas, and maritime industries.

The Debtor filed for Chapter 11 bankruptcy protection (Bankr. S.D.
Tex. Case No. 19-34985) on September 2, 2019.  The Hon. Marvin
Isgur oversees the case.

In its petition, the Debtor estimated $1 million to $10 million in
both assets and liabilities.  The petition was signed by Marco
Pesquera, president.

The Debtor is represented by:

     Michael L. Hardwick, Esq.
     MICHAEL HARDWICK LAW, PLLC
     2200 North Loop West, Suite 116        
     Houston, TX 77018
     Tel: (713) 832-930-9090
     Fax: (713) 832-930-9091
     E-mail: michael@michaelhardwicklaw.com


PARADIGM GATEWAY: Cash Collateral Motion Continued to Nov. 31
-------------------------------------------------------------
Judge John K. Olson of the U.S. Bankruptcy Court for the Southern
District of Florida authorized Paradigm Gateway International, Inc.
to use cash collateral for reasonable day to day expenses to the
same extent as granted by the Court in the related case, Pinnacle
Group, LLC, Case No. 19-32519-JKO. The Cash Collateral Motion is
continued to Nov. 13, 2019 at 10:30 a.m.

              About Paradigm Gateway International

Paradigm Gateway International, Inc., filed a Chapter 11 bankruptcy
petition (Bankr. S.D. Fla. Case No. 19-13520) on March 19, 2019.
The Debtor hired Rappaport Osborne & Rappaport, PLLC, as attorney.


PENGROWTH ENERGY: Obtains 31-Day Extension of its Debt Maturities
-----------------------------------------------------------------
Pengrowth Energy Corporation has reached an agreement for a 31 day
extension of the maturity date under its Credit Facility and under
its secured notes that were previously due Oct. 18, 2019. Pengrowth
remains in ongoing discussions with its lenders and noteholders
regarding a potential transaction that would address an overall
extension of maturities under the Company's Credit Facility and
Secured Notes.

"We continue to pursue an extension of the maturities under our
credit facility and secured notes in a fair and balanced manner to
put Pengrowth on a stronger financial footing and maximize value
for all stakeholders," said Pete Sametz, chief executive officer of
Pengrowth.  "Pengrowth's low-cost structure continues to allow us
to generate positive free cash flow and reduce debt at current oil
prices.  Meanwhile, our underlying assets have grown.  Lindbergh's
proved ("1P") and proved and probable ("2P") reserves just
increased by 34% and 25% respectively as of June 30, 2019.  This
extends Lindbergh's 2P reserve life index to 54 years.  Our Board
of Directors and management team remain committed to working with
key stakeholders to achieve a transaction that balances the
interests of all stakeholders."

The Company's C$330 million Credit Facility is provided by a broad
syndicate of domestic and international banks and had a scheduled
maturity of Sept. 30, 2019.  The lenders have agreed to provide the
Company with a 31 day extension of the maturity date under the
Credit Facility to Oct. 31, 2019 with a maximum facility draw of
$180 million under the Credit Facility and a $5 million Excess Cash
provision.  Holders of the Secured Notes have agreed to the
extension of the Credit Facility and to a 31 day extension of the
maturity date under the October Notes to Nov. 18, 2019.

The Company will continue to operate its free cash flow positive
business as usual.  This short-term extension will allow the
Company to continue to advance discussions with its lenders and
noteholders with the objective of completing a long-term extension
transaction.  The mutual goal of Pengrowth and its senior
debtholders is to negotiate a three year extension that allows the
Company the flexibility to reduce its outstanding debt with the
benefit of additional time and improved market conditions.

The Company believes it has made significant progress with its
lenders and noteholders on a number of key areas in respect of the
potential extension transaction, but there remain ongoing detailed
discussions which require additional time.  A transaction may
result in dilution of the outstanding common shares of the Company
(with an associated impact on the value of such shares) as part of
any consideration provided to affected lenders and noteholders.
There can be no assurance or guarantee that a long-term extension
transaction will be agreed to or on what terms.

Pengrowth's strategic review process remains ongoing and Pengrowth
will continue to update the market as appropriate.

                         About Pengrowth

Pengrowth Energy Corporation -- http://www.pengrowth.com-- is a
Canadian energy company focused on the sustainable development and
production of oil and natural gas in Western Canada from its
Lindbergh thermal oil property and its Groundbirch Montney gas
property.  The Company is headquartered in Calgary, Alberta, Canada
and has been operating in the Western Canadian basin for more than
30 years.  The Company's shares trade on both the Toronto Stock
Exchange under the symbol "PGF" and on the OTCQX under the symbol
"PGHEF".

Pengrowth reported a net loss and comprehensive loss of C$559.3
million in 2018, following a net loss and comprehensive loss of
C$683.8 million in 2017.  As of March 31, 2019, the Company had
C$1.34 billion in total assets, C$1.12 billion in total
liabilities, and C$220.9 million in shareholders' equity.

KPMG LLP, in Calgary, Canada, the Company's auditor since 1988,
issued a "going concern" qualification in its report dated March 5,
2019, on the Company's consolidated financial statements for the
year ended Dec. 31, 2018, citing that the Company has significant
uncertainties relating to its ability to meet its financial
obligations on scheduled debt maturities and comply with certain
debt covenants that raise substantial doubt about its ability to
continue as a going concern.


PHILADELPHIA SCHOOL: Fitch Hikes Issuer Default Rating to BB+
-------------------------------------------------------------
Fitch Ratings assigned an 'A+' rating to the following school
district of Philadelphia's (the district or SDP) $349.41 million of
general obligation bonds and $187.77 million of state public school
building authority (commonwealth of Pennsylvania) lease revenue
bonds, all based on the Pennsylvania School Credit Intercept
Provision:

  -- $300 million SDP general obligation bonds series A of 2019;

  -- $24.965 million SDP general obligation bonds series B of
     2019 (green bonds);

  -- $24.445 million SDP general obligation refunding bonds
     series C of 2019;

  -- $125.865 million SDP general obligation refunding bonds
     series 2020 forward delivery;

  -- $187.77 million SPSBA (commonwealth of Pennsylvania)
     school lease revenue refunding bonds (the school district
     of Philadelphia project) series 2019 (federally taxable).

The bonds are scheduled to be sold via negotiated sale on or about
October 16. Proceeds will be used to fund various capital projects
and refund certain outstanding debt.

In addition, Fitch has taken the following rating actions:

  -- The district's Issuer Default Rating (IDR) upgraded to 'BB+'
     from 'BB-';

  -- The underlying rating on approximately $2.8 billion of the
     district and SPSBA (the authority) outstanding bonds issued
     on behalf of the district upgraded to 'BB+' from 'BB-';

  -- SDP GO bonds and SPSBA school lease revenue refunding bonds
     assigned an underlying rating of 'BB+'.

The Rating Outlook is Stable.

SECURITY

All of the authority and GO bonds are enhanced by protections under
Pennsylvania statutes outlining intercept of commonwealth aid for
school districts (Pennsylvania School Credit Intercept Provision)
as well as the district's full faith and credit and taxing power.

For direct pay bonds issued by the authority, payments from the
State Treasurer are made directly to the trustee on the last
Thursday of April and October of each year, in advance of lease
rental payments due on May 15 and Nov. 15, and debt service
payments on June 1 and Dec. 1; also, the last Thursday of each
February and August of each year for base rental payments on March
15th and September 15th and debt service payments of April 1 and
October 1. The district has covenanted that it will include
payments to the authority in its budget appropriations. For these
payments, the district irrevocably has pledged its full faith,
credit and taxing power.

ANALYTICAL CONCLUSION

The 'A+' rating on the bonds reflects the credit enhancement
provided by the Pennsylvania School Credit Intercept Provision.

The upgrade of SDP's IDR to 'BB+' from 'BB-' reflects meaningful,
recurring revenue commitments enacted by the commonwealth and the
city of Philadelphia (A-/Positive) in recent years. The revenue has
materially improved the trajectory of the district's operating
performance and supports progress toward structural balance.

The 'BB+' IDR also reflects SDP's constrained budgetary
environment, with limited independent ability to fundamentally
alter its fiscal profile and moderate long-term liability burden.
While the additional revenues noted above are significant, they do
not fully address the district's anticipated spending needs over
the long-term, highlighting the extent of SDP's fiscal challenges.

Economic Resource Base

Philadelphia serves as a regional economic center in the Northeast,
with a stable employment base weighted toward the higher education
and healthcare sectors. Jobs expansion since the Great Recession
has been steady and strong, but comparatively low wealth levels and
modest population increases persist, limiting growth prospects. The
population is approximately 1.6 million.

KEY RATING DRIVERS

Revenue Framework: 'a'

Fitch expects SDP's revenues will grow near the rate of inflation
with key components including property taxes and commonwealth
appropriations. Under state law, SDP has the ability to levy up to
16.75 mills on taxable real estate without city council approval.
Fitch notes that the district does not currently levy any property
taxes without city council approval and has no intention of doing
so. Fitch's revenue framework assessment focuses more on the
revenue growth prospects given the practical and political
constraints of raising the millage.

Expenditure Framework: 'bbb'

Fixed carrying costs are moderate, but Fitch views charter school
spending as SDP's most critical expenditure challenge, and will
closely monitor the district's progress in managing the budgetary
burden. Fitch anticipates the natural pace of spending growth will
be above expected revenue growth. The labor environment also poses
limitations on expenditure flexibility. Statutorily-defined
commonwealth reimbursements offset a significant share of pension
spending.

Long-Term Liability Burden: 'aa'

Long-term liabilities present a moderate burden on the district's
economic resource base. Other post-employment benefit (OPEB)
liabilities are modest, with the district providing a capped
healthcare subsidy for retirees through the state wide teachers'
pension plan system.

Operating Performance: 'bb'

The district has built up some budgetary reserves in recent years,
bolstered recently with increased commitments from the city for new
and recurring revenues, but these remain insufficient to offset
even the modest expected revenue volatility in Fitch's moderate
recessionary scenario analysis. SDP's financial flexibility is
improved, but remains limited and the district could become
distressed in the event of an economic downturn, absent external
assistance. Both Philadelphia and Pennsylvania have previously
stepped in to support the district and Fitch anticipates similar
assistance in the future.

RATING SENSITIVITIES

Long-Term Financial Sustainability: While the district's financial
position and outlook has materially improved in recent years, the
long-term trajectory remains somewhat uncertain and beyond its
direct control. SDP's financial cushion is narrow and the district
remains reliant on further support from the city or commonwealth,
or another round of significant cost restructuring akin to prior
efforts, to avoid depleting its reserves over time.

Shift in Charter School Expenditures: Payments to charter schools
have been, and will likely continue to be, the most significant
driver of the district's expenditures. A material and sustained
change in the mandatory per-pupil payments SDP makes to charter
schools, either through changes in enrollment patterns or in the
structure of the payments themselves, could alter Fitch's view of
the district's expenditure growth and financial resilience.

CURRENT DEVELOPMENTS

City Commitment Supports Improvement in Fiscal Outlook

SDP estimates in its most recent quarterly school manager report
(QSMR) that it ended fiscal 2019 (on June 30) with its fifth
consecutive operating fund surplus, continuing a trend of sound
budgetary results. The district's operating fund consists of its
general fund, intermediate fund (covering special education and
non-public school programs) and debt service fund. The fourth
quarter of fiscal 2019 (4Q19) QSMR projects a roughly $40 million
net operating surplus leading to an available operating fund
balance of $214 million, or 7% of operating expenditures. Should
final results match these projections, this would be the highest
level of reserves for the district since the Great Recession.

The adopted June 2019 five-year plan for the district incorporates
modest operating fund net operating deficits beginning in fiscal
2020 and continuing thereafter, reducing and eventually depleting
the record reserves over several years. Importantly, the scale of
projected deficits and the pace of the reserve depletion have
improved considerably from just a year ago. In March 2018, the
district presented a version of its five-year plan (excluding any
new city support) that projected an approximately $131 million
operating fund net operating deficit in fiscal 2020, depleting the
reserve to negative $50 million that year, and to a negative $660
million by the end of fiscal 2023. In contrast, the June 2019
five-year plan projects an approximately $50 million net operating
deficit in fiscal 2020, with available operating fund balance
reaching negative $153 million at the end of fiscal 2023 and
negative $263 million at the end of fiscal 2024.

A more than $600 million increased commitment in city funding
enacted as part of the city's fiscal 2019 budget primarily accounts
for the significant improvement in the district's financial
outlook. While less than originally proposed by the city's mayor,
the additional recurring city funding still materially alters SDP's
revenue framework and its ability to match recurring revenues and
recurring expenses. The increased funding came as the district
returned to local control on July 1, 2018, under a board of
education made up of mayoral appointees. As demonstrated with the
significant funding commitment (primarily through increased direct
grants, or appropriations), the city and district, while distinct
operating entities, are now even more closely linked financially.
Fitch notes the city's latest investment is on top of several
rounds of increasing city and commonwealth fiscal support for the
district in recent years.

The operating deficits projected in the June 2019 five-year plan
reflect both the district's willingness to continue investing
additional resources into classrooms, and the pressures from other
expenditure items outside of SDP's direct control. Projected
average annual growth in spending (2.7%) very slightly outpaces
average annual growth in revenues (2.6%) between fiscal 2020 and
2024. The most significant expenditure growth is for charter school
payments which the five-year plan projects grow more than 6%
annually, on average through the plan. Growth reflects modest
increases in enrollment and application of the current statutory
formula governing charter school payments. The district updates its
five-year plan regularly, primarily as part of its annual budget
adoption process, allowing for frequent reviews and updates to its
financial planning in an effort to maintain long-term
sustainability. Fitch considers the five-year plan projections
reasonable and realistic, particularly for the first two years.

Property Assessment Litigation Poses Manageable Risk

On July 18, a judge in the Senior Common Pleas Court ruled against
the city in a suit brought by certain commercial property owners
challenging property assessments done for tax year 2018 and ordered
the city and school district to refund approximately $50 million in
tax revenues. The property owners claimed the city had violated a
state constitutional provision by singling out commercial property
for re-assessment that year. The litigation only affects one year
of assessments; the tax year 2019 and 2020 assessments and their
related tax revenues are unaffected by the decision. The ruling
came after a June trial at the trial court level and the denial of
post-trial motions filed by the city. Fitch expects the case will
be appealed and in the interim, the initial decision ordering
repayment will be stayed.

If ultimately required, the $48 million repayment would be split
between the city (approximately one-third) and the school district
(approximately $34 million). The school district's total local tax
revenues collected for the district by the city in fiscal 2018
exceeded well over $1 billion. The timing of any payout is still to
be determined and the district reports the judge's decision would
allow for payments or credits for the refunds over multiple years,
diluting the fiscal drain. Given SDP's narrow fiscal cushion, Fitch
believes a phased disbursement of $34 million would require
immediate budgetary adjustments for the district, which Fitch
believes management is capable of implementing, despite the
district's constrained expenditure flexibility. In the event such a
payout is required, the agency also anticipates the district could
seek support from the city or commonwealth to minimize service
disruptions. Absent external support, the necessary budgetary
adjustments could affect delivery of core services.

CREDIT PROFILE

The School District of Philadelphia is the nation's 13th-largest
school district and the largest in the commonwealth, with fall 2018
enrollment of 203,376 students, including charter school students
(71,977 students, or 35 % of enrollment). Charter school enrollment
has grown approximately 3% on average annually since fiscal 2012,
while district public school enrollment declined an average 2% each
year. Recent data indicate some stabilization in enrollment trends
across both categories, with charter and district public schools
both seeing more modest annual changes.

Revenue Framework

Commonwealth subsidies comprise the majority of SDP's revenues,
with various locally generated revenues also making up a
significant share. Pennsylvania's funding comes primarily in the
form of direct aid for education and reimbursement for a
substantial share of annual pension costs. Local revenues consist
mainly of a property tax and certain other taxes collected by the
city of Philadelphia, an annual statutorily mandated payment of
$120 million of the sales tax levied by the city and collected by
the commonwealth, which remits it to the district, and direct
grants made by the city.

Fitch anticipates commonwealth subsidies to the district will grow
modestly, near the rate of inflation and consistent with the
agency's expectation for the commonwealth's own revenue growth
prospects. Pennsylvania has only decreased annual funding to SDP
once in the past three decades. There were multiple decreases in
basic education funding (BEF, the largest component), including
just after the last recession, but the commonwealth continued to
fund a share of pension expense, and overall state funding
generally increased.

All increases in statewide BEF beginning with fiscal 2017 (between
$100 million and $200 million annually) have been distributed under
a new student-weighted BEF formula adopted in 2016 that has been
beneficial to the district. The formula only applies to new BEF
funding since fiscal 2017, comprising approximately 11% of the
commonwealth's fiscal 2020 appropriation. Unlike in many other
states, the vast majority of local school aid in Pennsylvania is
not distributed on a per-pupil basis and is not directly tied to
enrollment.

Following the multi-year phase-in of a sizable increase in local
aid beginning in fiscal 2019, Fitch anticipates local revenues will
increase at a pace similar to commonwealth aid to the district.
Property taxes are the main component of revenues (roughly two
thirds), and Fitch views prospects for growth in the city's tax
base positively. Some local sources are more volatile, while others
are relatively flat, such as the $120 million annual share of the
city sales tax.

Over the past several decades, the commonwealth's legislature has
granted the district authority to levy property taxes of up to
16.75 mills on taxable real estate. This authority was suspended
while the district was in distressed status between December 2001
and December 2017. In the highly unlikely event the district were
to utilize the authority, it would be more than double the city's
current levy of property taxes on behalf of the school district
(7.681 mills) providing high independent revenue-raising ability.
SDP has indicated no intention to utilize this authority and does
not believe it practically available. Instead, the district relies
primarily on partnerships with the commonwealth and city, its
primary external stakeholders, to provide its funding.

Expenditure Framework

The district's largest expense is for personnel, particularly
teachers. Charter school per-pupil payments for each resident
student enrolled in a charter are the second-largest item,
representing approximately one-fourth of governmental funds
expenditures. During and after the last recession, the school
district implemented aggressive cost-cutting measures, reducing
operating expenditures for district-operated schools to as low as
$1.4 billion in fiscal years 2014 and 2015 (on a budgetary basis),
from $1.8 billion in fiscal 2011. Spending for district-operated
schools has increased in recent years ($1.7 billion in fiscal 2019)
but remains below the prior peak. Fiscal 2019 enrollment in
district schools was down approximately 14% since fiscal 2011.

Fitch anticipates expenditure growth will continue to exceed
expected revenue growth, but the recent commitment for local aid
increases brings the trajectory of revenue growth closer to
expenditure growth. Charter school and pension expenses have been
the primary historical growth drivers in recent years, and the
pending expiration of the current teachers' contract (June 30,
2020) could add additional pressure.

Fitch anticipates recent growth in pension contributions to the
commonwealth-wide Public School Employees Retirement System (PSERS)
to continue, but at a slower pace in coming years based on the
district's five-year financial plan projections, which are in turn
based on guidance from PSERS. Contributions had been ramping up
steeply for several years until the district reached full actuarial
contributions in fiscal 2017. SDP currently projects charter school
enrollment and per pupil spending to increase steadily, which Fitch
considers the district's most pressing expenditure challenge.
Charter school per pupil spending increases essentially in line
with spending on the district's spending for its own schools based
on the commonwealth's statutory formula for charter school
payments.

While SDP's carrying costs (debt service, actuarially determined
pension contributions and actual other post-employment benefit
contributions) remain moderate, Fitch assesses the district's
expenditure flexibility as constrained, given high levels of
charter school expenditures and the inflexible workforce
environment. The increased fiscal support received from the
commonwealth and city in recent years has allowed the district to
restore some previously cut services, providing an incremental
margin of spending flexibility.

The carrying cost metric (17% of fiscal 2018 governmental funds
expenditures) does not consider the commonwealth's reimbursement
for approximately two-thirds of annual pension expense. The
reimbursement is based on a statutory formula tied to each school
district's property values and personal income. The district's
carrying costs excluding the commonwealth reimbursement would be
13% of fiscal 2018 governmental funds expenditures.

Charter schools pose an additional limitation on expenditure
flexibility. As noted, per-pupil charter school payments are driven
largely by the district's spending for its own schools and likely
to remain a significant expense in the current statutory framework.
When adding charter school expenditures to carrying costs, Fitch
estimates total fixed costs at roughly 40% of total governmental
funds expenditures (with and without the commonwealth
reimbursement). A challenging labor environment is a further
expenditure flexibility constraint.

The district's reversion to oversight by a locally appointed school
board on July 1, 2018 from the state-appointed School Reform
Commission (SRC) creates a more complicated dynamic for the next
round of contract negotiations. As a designated 'distressed' school
district operating under the SRC, SDP employees were prohibited
from striking. That prohibition ended once the district reverted to
local control. Also, district labor contract negotiations are now
governed by a state law that allows for labor or management to
trigger binding arbitration in the event of an impasse. The
district's fiscal and economic conditions are not a required
evaluation factor. Under the SRC, binding arbitration could not be
triggered.

Long-Term Liability Burden

SDP's long-term liability burden is moderate, at approximately 13%
of personal income based on the most recent debt and pension
information, weighted toward direct and overlapping debt (issued by
the coterminous city). Most debt is for capital needs, but the
district has occasionally benefited from financing issued at the
city's discretion to provide operating revenues for the district to
manage budgetary stress.

The current capital improvement plan (CIP) envisions no deficit
bonds and biennial debt issuance through fiscal 2024 totaling $800
million. The CIP is developed based partially on an extensive
facility conditions assessment (FCA) the district completed in 2016
and has updated periodically since then. The FCA included a review
of 308 educational and athletic facilities. If appropriately
maintained, the FCA can serve as a useful tool for the district to
assess its ongoing capital needs and prioritize investment,
including via direct debt. For overlapping debt, Fitch anticipates
the current mayoral administration will moderately increase the
city's outstanding debt to support specific initiatives.
Substantial issuance by the city or district without commensurate
economic growth could pressure the assessment of SDP's long-term
liability burden.

The net pension liability is roughly one third of the total
liability burden. The district's pension funding for the PSERS is
determined by commonwealth statutes that dictated a ramp up to full
actuarially determined levels by fiscal 2017. The pension liability
could moderate over the long term if actuarial assumptions are met
and the statutory requirements for full actuarially determined
funding remain in place.

Terms of the pension system, including annual budgetary
requirements, are wholly outside of the district's control, as the
plan is statewide. In 2017, the commonwealth enacted changes to its
major pension systems, including PSERS, which will gradually slow
growth and then reduce the long-term liability and annual
contribution requirements by changing the level of benefits for new
employees. Fitch does not anticipate these changes will reduce the
liability to a level that would improve the agency's assessment of
the district's long-term liability burden.

The district has no variable-rate debt exposure but does remain
counterparty to two basis swaps related to a series 2016A State
Public School Building Authority lease revenue bond transaction.
The district's exposure is limited, as it retains sole authority to
terminate the swaps and faces no collateral posting requirements.

SDP's comparatively narrow liquidity profile is bolstered by
consistent marketplace access for cash flow borrowing, given the
timing difference of revenues and expenses in a fiscal year. Unlike
all other commonwealth school districts which receive tax revenues
in August, the district does not receive the bulk of its tax
revenues until March, eight months into the fiscal year. Based on
audited financial statements, Fitch calculates the district's
government-wide days cash on hand as a narrow approximately 30
days. SDP has issued privately placed tax and revenue anticipation
notes (TRANs) for many years, supported by taxes, revenues and
state aid payments that provide multiples of coverage.

The district relies heavily on the credit enhancement offered by
Pennsylvania's intercept provisions for school aid when accessing
credit markets. The fiscal 2016 commonwealth budget impasse led
some marketplace participants to question the value of the
provisions. Legislation passed in 2016 addressed those concerns and
provides for commonwealth general fund money to make
intercept-eligible debt service payments, including for the
district's TRANs, in the event of another budget impasse.

Operating Performance

Through prudent budgetary management and successful negotiation
with state and local partners over the past few years, the district
has improved its fiscal position and ability to withstand
downturns, but the outlook remains constrained. Despite the recent
improvements, the district still retains only limited gap-closing
capacity with midrange inherent budget flexibility.

Unaudited results suggest SDP has built up its budgetary basis
available fund balance for its operating fund (general,
intermediate and debt service funds combined) to their highest
level since the Great Recession. Similarly, the GAAP-basis general
fund unreserved fund balance appears likely to have reached a
relative peak as of fiscal 2019 based on budgetary results. These
reserves could be drawn down significantly in the event of a
moderate economic downturn that lowers the district's revenue
collections.

The June 2019 five-year plan projects those balances could be drawn
on beginning this fiscal year with a projected modest operating
deficit leading to reserve depletion by fiscal 2022. As noted, this
plan reflects considerable improvement from prior year plans which
indicated much deeper deficits and significantly larger, and
earlier (as soon as fiscal 2019), negative fund balances. The
five-year plan also includes an annual $22.5 million reserve
beginning in fiscal 2022 for federal funding losses, tied to
proposals in the President's federal budget plan to cut back
certain funding currently available to the district. Congress
rejected similar proposals made in the President's budget proposals
for earlier years.

Fitch considers the currently projected budgetary operating fund
balance for fiscal 2019 to be a probable high water mark for the
district with reserves likely to be drawn down and remain positive,
but relatively narrow, for the foreseeable future as SDP balances a
focus on ongoing investment in classroom and related resources,
with maintaining some cushion. If the district's annually updated
five-year plan shows negative fund balances within its first two
years, management would likely take more aggressive steps to adjust
spending in line with available resources and maintain at least a
modest level of reserves, and also pursue additional external
stakeholder support. Fitch notes the district took this combined
approach, successfully, over the past few years as it recovered
from a series of operating deficits and negative fund balances.

The commonwealth, city, and federal government (through the federal
stimulus act) have historically stepped in to provide the district
with sufficient resources to maintain operations in the event of
fiscal distress. Similar responses are likely in the event of
another downturn, particularly from the commonwealth and city as
evidenced by a recent string of supportive actions. The district's
shift back to local control, via mayoral appointees, also suggests
increased incentive for the city to provide further direct support
to the district if necessary.

SDP's budgetary management practices are sound but limited by
fiscal constraints. The district's current five-year plan
anticipates draws on fund balance to support ongoing operations,
albeit at much lower levels than prior plans, reflecting the
benefits of increased city and commonwealth funding and continued
active budget management by the district. SDP has made significant
fiscal progress in relatively short period of time going from a
negative budgetary basis available operating fund balance in 2014
to an estimated more than $200 million at the end of fiscal 2019.
On a GAAP basis, the general unreserved fund balance improved to
positive $72 million in fiscal 2018 from a deeply negative $116
million in fiscal 2014. The district relied primarily on a mix of
significant structural expense reductions and successful
negotiation of recurring revenue increases from the commonwealth
and city.

Over the past several years, the commonwealth has stabilized and
made permanent a dedication of cigarette tax revenues of at least
$58 million annually, resolved a looming statutory issue that could
have reduced pension reimbursements by $250 million over five
years, and provided three consecutive years of BEF funding
increases under a more favorable funding formula. Meanwhile, the
city (at its own discretion) has issued bonds to provide operating
support for the district, worked with the commonwealth to allocate
$120 million annually of a local sales tax increase to SDP,
authorized multiple increases in the district's property tax levy,
and committed to more than $600 million in additional funding
phased in over multiple years beginning in fiscal 2019.


PLASTIC POWERDRIVE: Asks Court to Combine Plan, Disclosures Hearing
-------------------------------------------------------------------
Plastic Powerdrive Products LLC, asks the Court to combine the
hearing on its modified plan of liquidation and modified disclosure
statemen.

The Debtor filed its modified plan of liquidation and accompanying
disclosure statement on September 24, 2019.

The Debtor wishes to move this case to conclusion, and in the
interest of the same, asks this Court to set a combined hearing on
adequacy of the disclosure statement and confirmation of the plan.

The Debtor believes that a combined hearing upon appropriate notice
will be in the best interest of all creditors and the state and
will be less costly than separate hearings.

The Debtor requests that this Court set a date for combined hearing
for plan and disclosure statement, deadlines for objections,
ballots, and ballot reports.

The Debtor is represented by Richard G. Larsen of Springer Larsen
Greene, LLC.

               About Plastic PowerDrive Products

Plastic PowerDrive Products, LLC, has specialized in supplying
high-precision, plastic components to a wide range of demanding
industries such as: computer peripheral equipment, office machines,
power tools, medical devices, gaming equipment and
telecommunications.

Plastic PowerDrive Products filed a voluntary petition under
Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ill. Case No.
18-28907) on Oct. 15, 2018, listing under $1 million in assets and
liabilities.  Richard G. Larsen, Esq., at Springer Brown, LLC,
represents the Debtor.


POWER SOLUTIONS: Extends Doosan Supply Agreement Until 2023
-----------------------------------------------------------
Power Solutions International, Inc., and Doosan Infracore Co., Ltd.
have entered into an addendum to the Supply Agreement, dated as of
Dec. 11, 2007, by and between the parties.

The Addendum extends the term of the Supply Agreement to Dec. 31,
2023, after which the agreement will automatically be extended for
additional one-year terms unless a notice of termination is
provided by either party six months prior to the scheduled
expiration.  The Addendum prohibits Doosan from specified product
development in partnership with the Company's existing or potential
customers and competitors.  The Addendum extends the Company's
exclusivity for the prescribed territory but carves out of the
restriction the competing engine products supplied by General
Motors Company and Weichai Power Co., Ltd.  The Company committed
to maximize sales and service opportunities on both Doosan and
Weichai engine products, recognizing their different value
proposition and target markets.  The Addendum also updates the
minimum product purchase commitments for the period 2019 through
2023, subject to reductions based on market declines in oil prices
and defined prescribed payments to Doosan triggered by shortfalls
in purchases made by the Company during each annual calendar
period.

                      About Power Solutions

Headquartered in Wood Dale, Illinois, Power Solutions
International, Inc. designs, engineers, and manufactures
emissions-certified, alternative-fuel power systems.  PSI provides
integrated turnkey solutions to global original equipment
manufacturers in the industrial and on-road markets.  The Company's
unique in-house design, prototyping, engineering and testing
capacities allow PSI to customize clean, high-performance engines
that run on a wide variety of fuels, including natural gas,
propane, biogas, gasoline and diesel.

Power Solutions reported a net loss available to common
stockholders of $85.47 million for the year ended Dec. 31, 2017, a
net loss available to common stockholders of $47.47 million for the
year ended Dec. 31, 2016, and a net loss available to common
stockholders of $2.89 million for the year ended Dec. 31, 2015. As
of Dec. 31, 2017, Power Solutions had $247.01 million in total
assets, $214.84 million in total liabilities, and $32.17 million in
total stockholders' equity.

BDO USA, LLP, in Chicago, Illinois, the Company's auditor since
2018, issued a "going concern" qualification in its report dated
May 16, 2019, on the Company's consolidated financial statements
for the year ended Dec. 31, 2017, citing that the Company has
suffered recurring losses from operations and significant
uncertainties exist about the Company's ability to refinance,
extend, or repay outstanding indebtedness, the circumstances of
which raise substantial doubt about the Company's ability to
continue as a going concern.


PRINT PLUS: Court Conditionally Approves Disclosure Statement
-------------------------------------------------------------
The Amended Disclosure Statement of Print Plus Corporation 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 November 6, 2019 at 9:30 AM 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 Amended Disclosure
Statement and/or the confirmation of the Amended Plan must be filed
and served on/or before fourteen (14) days prior to the date of the
hearing on confirmation of the Plan.

              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.


PROQUEST LLC: Moody's Rates New $875MM Secured Loans 'B2'
---------------------------------------------------------
Moody's Investors Service assigned B2 rating to ProQuest LLC's new
senior secured credit facilities, consisting of $150 million senior
secured revolving credit facility due in 2024 and $725 million
senior secured term loan due in 2026. Moody's affirmed the
company's B2 corporate family rating and B2-PD probability of
default rating. Debt proceeds will be used to repay existing debt
issued by ProQuest, which ratings are unchanged and will be
withdrawn upon closing. The outlook is stable.

Affirmations:

Issuer: ProQuest LLC

  Corporate Family Rating, Affirmed B2

  Probability of Default Rating, Affirmed B2-PD

Assignments:

Issuer: ProQuest LLC

  $725 million Senior Secured 1st lien Term Loan B due 2026,
  Assigned B2 (LGD3)

  $150 million Senior Secured 1st lien Revolving Credit Facility
  due 2024, Assigned B2 (LGD3)

Outlook Actions:

Issuer: ProQuest LLC

  Outlook, Remains Stable

RATINGS RATIONALE

ProQuest's B2 CFR reflects the company's leverage of 5.6x as of Q2
2019 and pro-forma for the transaction, incorporating Moody's
standard adjustments as well as expensing content costs. The
company's ratings are supported by growth at the company's Ex
Libris' SaaS software business, a large subscription base in the
library reference market with extensive content databases sold to
libraries, corporations and government organizations, as well as
high renewal rates and a recurring stream of revenues. Nearly 90%
of the revenue base is either subscription based or is under
renewable annual contracts, with renewal rate of 95%. In addition,
further business expansion is anticipated as ProQuest consolidates
and unifies the interface in its content aggregator product and
launches a new administrative tool to manage print and digital book
ordering within its Books segment. While printed books and their
sales continue to be challenged, Moody's anticipates that growth in
other businesses, driven by expansion in sales of e-books will
offset revenue declines in maturing units. ProQuest operates in a
competitive environment and will face rising royalty payments as
its sales mix changes to more digital offerings, which will need to
be offset with revenue growth or cost savings elsewhere to avoid
impacting EBITDA margins.

The company recently addressed the maturing equity put that Goldman
Sachs Group, Inc. (The) held by facilitating a sale of majority of
Goldman Sachs' stake to Atairos Group, Inc.The maturity of the
remaining equity put related to the 10% equity interest still owned
by Goldman Sachs was pushed out to 2022.

Moody's considers ProQuest to have moderate governance risk as the
company is controlled by Cambridge Information Group, Inc. (56%), a
family-owned investment company. Other major shareholders include
Atairos (31%) and Goldman Sachs (10%). From a financial strategy
perspective, private equity sponsored companies favor equity holder
rights over those of debt holders, though in the case of ProQuest,
historically, the company's equity owners have not taken meaningful
cash distributions out of the business. Both Goldman Sachs and
Atairos have put rights of their equity stakes, with Goldman's put
having a right to convert into a note bearing 8% interest rate for
a 3-year term starting in June 2022, and Atairos having their put
exercisable in June 2027.

ProQuest's liquidity profile good given the positive, although
seasonal, free cash flow generation and the availability of its new
$150 million senior secured revolver due 2024 ($40 million drawn at
closing). Cash on the balance sheet is expected to be $40 million
pro-forma for the refinancing. Moody's projects free cash flow of
approximately $80 million, which the rating agency anticipates may
be used for debt repayment, additional acquisitions, or modest
distributions to the owners to offset the impact of tax
obligations.

The term loan is covenant lite, but the revolver is expected to
have springing covenant set at 6.75x net first lien leverage ratio
(as defined in the credit agreement) when 35% of the revolver is
drawn. The proposed credit facilities will provide for debt
repayment from asset sales and incremental debt and equity
issuances, and will have a leverage-based free cash flow sweep
mechanism.

The stable rating outlook reflects Moody's view that ProQuest will
remain a meaningful industry participant in the higher education
and library markets, that revenue and EBITDA will be up slightly in
2020 and 2021 and that there may be additional debt repayment over
the forecast horizon. Moody's outlook does not incorporate material
shareholder distributions or meaningful operating performance
declines.

Moody's would consider an upgrade if ProQuest is able to
demonstrate good organic revenue and EBITDA growth and reduce
leverage below 4.25x on a sustained basis. Maintenance of a good
liquidity position and a stable competitive position would also be
required. In addition, confidence would be needed that the company
would not raise leverage levels to facilitate the exit of its
equity partners.

Ratings could experience downward pressure if leverage increased
above 6x on a sustained basis due to additional debt or weaker
operating performance. A weakened liquidity position could also
lead to negative rating pressure.

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

Headquartered in Ann Arbor, Michigan, ProQuest LLC (ProQuest)
aggregates, creates, and distributes academic and news content
serving academic, corporate and public libraries worldwide. The
company's ownership consists of Cambridge Information Group, Inc.
(majority shareholder), Atairos and Goldman Sachs. LTM revenue as
of Q2 2019 was $751 million.


PUBLIC FINANCE AUTHORITY, WI: S&P Cuts 2017A-B Bond Ratings to BB+
------------------------------------------------------------------
S&P Global Ratings has lowered its ratings to 'BB+ (sf)' from 'BBB+
(sf)' on the Public Finance Authority, Wis.' (The Rubix Apartments
Project) series 2017A and taxable series 2017B bonds. At the same
time, S&P lowered its rating on the authority's subordinate series
2017C multifamily housing revenue bonds to 'B+ (sf)' from 'BB+
(sf)'. The outlook is stable.

"The downgrades are based on the declining fiscal 2018 maximum
annual debt service coverage (DSC) caused by lower net rent
collections and higher operating expenses such as utilities
payroll, and legal fees," said S&P Global Ratings credit analyst
Ki-Beom Park.

"The stable outlook reflects our view of the project's projected
2019 financial performance," added Mr. Park. The decline in
financial performance in 2018 was related to low physical and
economic occupancy. Since 2018, the owner has increased occupancy,
improving unaudited year-to-date financial performance. The
strengthening relationship with the Salvation Army as well as other
veteran's programs is reflected in the increased and stabilized
2019 occupancy.



RAIT FUNDING: Seeks to Hire M-III as Financial Advisor
------------------------------------------------------
RAIT Funding, LLC, seeks approval from the U.S. Bankruptcy Court
for the District of Delaware to hire M-III Advisory Partners, LP as
its financial advisor.

The firm will provide these services in connection with the Chapter
11 cases filed by the company and its affiliates:

     (1) assist the Debtors' personnel and advisors in the
financial review of their businesses;

     (2) assist in the development and management of cash flow
forecasts;

     (3) assist in the preparation of documents necessary for the
administration of the Debtors' bankruptcy cases;

     (4) assist in the analysis and strategy for treatment of
unsecured claims and liabilities subject to compromise and manage
the claims reconciliation process;

     (5) assist the Debtors in the development of a strategy to
implement cut-off processes to segregate pre-bankruptcy and
post-petition liabilities;

     (6) assist in the management of the administrative
requirements of the Bankruptcy Code;

     (7) assist in the preparation of information and analysis
necessary for the confirmation of a plan;

     (8) assist in the preparation of reports and liaising with
creditors, statutory committees and other parties-in-interest;

     (9) assist in the analysis and development retention plans and
incentive plans;

    (10) assist the Debtors and their advisors in developing
restructuring plans or strategic alternatives; and

    (11) attend meetings and discussions with potential investors,
banks, secured lenders, any court-appointed official committee, the
U.S. trustee, and other parties in interest.

The firm's hourly rates are:

     Managing Partner         $1,050
     Managing Director     $875 - $975
     Director              $675 - $775
     Vice President             $600
     Senior Associate           $500
     Associate                  $425
     Analyst                    $350

M-III received retainer fees in the total amount of $300,000.

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

The firm can be reached through:

     Brian Griffith
     M-III Advisory Partners, LP
     Three Columbus Circle, 15th Floor
     New York, NY 10019
     Tel: (212) 716-1491    
     Fax: (212) 531-4532

                      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.


REAGOR-DYKES MOTORS: Court Approves Disclosure Statement
--------------------------------------------------------
The Disclosure Statement of Reagor-Dykes Motors, LP, et al., is
approved.

A hearing on confirmation of the Plan will be held on December 11,
2019, at 10:00 a.m. before the Honorable Judge Robert L. Jones,
United States Bankruptcy Judge, United States Bankruptcy Court,
Room 314, 1205 Texas Avenue, Lubbock, Texas 79401.

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

COUNSEL FOR THE DEBTORS:

     Marcus A. Helt, Esq.
     C. Ashley Ellis, Esq.
     Melina T. Bales, Esq.
     FOLEY GARDERE
     Foley & Lardner LLP
     2021 McKinney Avenue, Suite 1600
     Dallas, TX 75201
     Telephone: 214.999.3000
     Facsimile: 214.999.4667
     mhelt@foley.com
     aellis@foley.com
     mbales@foley.com

                About Reagor-Dykes Motors

Dykes Auto Group -- https://www.reagordykesautogroup.com/ -- is a
dealer of automobiles headquartered in Lubbock, Texas. The Company
offers new and used vehicles, automobile parts, and other related
accessories, as well as car financing, leasing, repair, and
maintenance services. Some of its new vehicles include brands like
Ford, Toyota, GMC, Cadillac, Chevrolet and Buick.

Reagor-Dykes Motors, LP, based in Lubbock, TX, and its
debtor-affiliates sought Chapter 11 protection (Bankr. N.D. Tex.
Lead Case No. 18-50214) on Aug. 1, 2018.  In its petition, the
Debtors estimated $10 million to $50 million in both assets and
liabilities.  The petition was signed by Bart Reagor, managing
member of Reagor Auto Mall I, LLC, general manager and Rick Dykes,
managing member of Reagor Auto Mall I, LLC, general partner.

The Hon. Robert L. Jones presides over the case.  

David R. Langston, Esq., at Mullin Hoard & Brown, L.L.P., serves as
bankruptcy counsel. BlackBriar Advisors LLC personnel is serving as
CRO for the Debtor.  JND Corporate Restructuring serves as its
noticing, claims and balloting agent.


ROYAL ALICE PROPERTIES: Taps Stillman as Claims Counsel
-------------------------------------------------------
Royal Alice Properties, LLC requests the U.S. Bankruptcy Court for
the Eastern District of Louisiana for authorization to employ the
law firm of Stillman & Associates as special counsel to the
Debtor.

The Debtor needs the Firm to continue to handle claim objections
and litigation against AMAG, Inc. for declaratory relief regarding
amounts owed by the Debtor to AMAG, Inc.

The Debtor explains that employing the Firm for this special
purpose is in the best interest of the estate because the Firm has
become familiar with the factual and legal issues involved and the
Firm has the necessary background, experience and expertise to deal
effectively with the complex issues facing the Debtor in litigating
AMAG's mortgage claim.  The Debtor believes that the Firm is
uniquely qualified to act as its special counsel during the
pendency of this Chapter 11 case in a most efficient and timely
manner.

The Firm will be paid on an hourly basis plus reimbursement of
actual and necessary expenses incurred by the Firm.  Philip H.
Stillman, a principal at the Firm, will lead the engagement.  He
charges $350 an hour for his services.  The Firm's associates bill
$175 per hour.

Mr. Stillman attests that his Firm does not represent or hold any
interest adverse to the Debtor or to the estate with respect to
this special purpose.

                   About Royal Alice Properties

Royal Alice Properties, LLC owns, manages and rents the building
and real estate located on the 900 block of Royal Street in the
French Quarter, New Orleans, Louisiana.  The condominium units are
located at 906, 910-12 Royal St. New Orleans, LA 70116.

Royal Alice Properties sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. E.D. La. Case No. 19-12337) on August
29, 2019. In the petition signed by Susan Hoffman, member/manager,
the Debtor estimated $1 million to $10 million in both assets and
liabilities.

The case is assigned to Judge Elizabeth W. Magner.

Leo D. Congeni, Esq. at Congeni Law Firm, LLC represents the Debtor
as counsel.


S.A. SPECIALTIES: Case Summary & 19 Unsecured Creditors
-------------------------------------------------------
Debtor: S.A. Specialties San Antonio, LLC
        9035D Aero Drive
        San Antonio, TX 78217

Business Description: Founded in 2004, S.A. Specialties San
                      Antonio -- https://saspecialties.com/ -- is
                      an air conditioning, heating, and insulation

                      company.  It installs and repairs air
                      conditioning and heating systems; inspects
                      ductwork systems; and installs and repairs
                      gas, electric, and heat pumps.

Chapter 11 Petition Date: October 1, 2019

Court: United States Bankruptcy Court
       Western District of Texas (San Antonio)

Case No.: 19-52405

Judge: Hon. Craig A. Gargotta

Debtor's Counsel: William R. Davis, Jr., Esq.
                  David S. Gragg, Esq.
                  LANGLEY & BANACK, INC.       
                  745 E Mulberry Ave, Suite 900
                  San Antonio, TX 78212
                  Tel: (210) 736-6600
                  Fax: (210) 735-6889
                  E-mail: wrdavis@langleybanack.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Jason A. Roberds, managing 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/txwb19-52405.pdf


SADDY FAMILY: Nov. 21 Hearing on Disclosure Statement
-----------------------------------------------------
A hearing on the adequacy of the disclosure statement explaining
the Chapter 11 plan of liquidation of Saddy Family, LLC will be
held before the Honorable Kathryn C. Ferguson on Nov. 21, 2019, at
2:00 p.m., in Courtroom No. 2, Clarkson S. Fisher Courthouse, 402
East State Street, Trenton, NJ 08608.  Written objections to the
adequacy of the Disclosure Statement must be filed and served no
later than 14 days prior to the hearing.

The Liquidating Plan provides that with respect to general
unsecured claims totaling $534,581, payment to the general
unsecured creditors will in the form of a pro rata distribution
from the proceeds the assets of the Debtor and the Associated
Debtors, SJV, Inc. and LASV, Inc, which will take place within six
months subsequent to the Effective Date.  If the assets are not
sold within the six-month period, an auctioneer will be retained by
the Debtor and the assets sold at auction sale.

A copy of the Disclosure Statement filed Sept. 29, 2019, from
PacerMonitor.com, is available at
https://is.gd/gngyXO

                        About Saddy Family

Saddy Family, LLC, owner of commercial buildings in Seaside
Heights, New Jersey, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D.N.J. Case No. 19-14223) on Feb. 28, 2019.
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 Christine M. Gravelle.  The Law Office of
Eugene D. Roth is the Debtor's counsel.


SAMSON OIL: Delays Filing of FY 2019 Annual Report
--------------------------------------------------
Samson Oil & Gas Limited filed a Form 12b-25 with the Securities
and Exchange Commission notifying the delay in the filing of its
annual report on Form 10-K for the year ended June 30, 2019.  The
Company's Annual Report could not be completed and filed by the
prescribed due date of Sept. 30, 2019, without undue hardship and
expense to the Company, due to unforeseen delays in the collection
and review of information and documents affecting disclosures in
the Report.  The Company expects to file the Report on or before
Oct. 15, 2019 in accordance with Rules 0-3 and 12b-25 of the SEC,
as amended.

                         About Samson Oil

Samson Oil & Gas Limited -- http://www.samsonoilandgas.com/-- is
an independent energy company primarily engaged in the acquisition,
exploration, exploitation and development of oil and natural gas
properties.  The Company's principal business is the exploration
and development of oil and natural gas properties in the United
States.  The Company is headquartered in Perth, Western Australia.

Samson Oil incurred a net loss of $6.03 million for the year ended
June 30, 2018, following a net loss of $2.76 million for the year
ended June 30, 2017.  As of March 31, 2019, Samson Oil had $33.93
million in total assets, $41.57 million in total liabilities, and a
total stockholders' deficit of $7.63 million.

Moss Adams LLP, in Denver, Colorado, the Company's auditor since
2017, issued a "going concern" qualification in its report dated
Oct. 15, 2018, on the Company's consolidated financial statements
for the year ended June 30, 2018, stating that the Company is in
violation of its debt covenants, has suffered recurring losses from
operations, and its current liabilities exceed its current assets.
These conditions raise substantial doubt about its ability to
continue as a going concern.


SCHAEFER AMBULANCE: $428K Sale of Los Angeles Property Approved
---------------------------------------------------------------
Judge Neil W. Bason of the U.S. Bankruptcy Court for the Central
District of California authorized Schaefer Ambulance Service,
Inc.'s sale of the residential real property commonly known as 740
South Atlantic Boulevard, Los Angeles, California, APN
6341-040-029, to Farshad and Roya Azizi for $428,000,

A hearing on the Motion was held on Sept. 24, 2019 at 2:00 p.m.

The overbid procedures are approved.

The sale of the Property to the Purchasers will be effective only
upon payment in full to the Debtor by the Purchasers of the
Purchase Price, of which only $11,400 was tendered prior to the
Hearing, with the balance of funds due and payable through escrow
for the purchase of the Property within 14 calendar days after
entry of the Order.

In the event the Purchasers fail to tender full payment to the
Debtor as set forth, the Deposit will be non-refundable and
completely forfeited to the Debtor.  In such event, the Debtor will
be authorized to sell the Property to the back-up bidder, Royalty
Ambulance Services, Inc., on the same terms and conditions, except
that such sale to the Backup Bidder will be for the total purchase
price of Backup Bidder's highest bid at the Hearing ($426,000).

Such sale to the Backup Bidder will be effective only upon full
payment to the Debtor by Backup Bidder through escrow of the Backup
Bid, of which only $39,000 was tendered prior to the Hearing, with
the balance of $387,000 due and payable as set forth, but not later
than 10 calendar days following written notice from the Debtor that
the Purchasers failed to timely consummate the sale of the Property
by tendering payment as set forth.

In the event the Backup Bidder fails to timely tender payment to
the Debtor as set forth, then the Backup Bidder Deposit will be
non-refundable and completely forfeited to the Debtor.

The sale of the Property, whether to the Purchasers or the Backup
Bidder (whichever the case may be), is on an "as is" and "where is"
basis, without any representations or warranties whatsoever.  The
sale is free and clear of liens, claims, interests and
encumbrances.

The payment of the real estate brokers' commission, totaling 4.5%
of the Purchase Price, and ordinary costs of sale will be made
directly from escrow at the closing of the sale.

The Debtor is authorized to pay past due real property taxes and
real property insurance premiums, if any, directly from escrow on
the Property.

At the closing of the sale, the escrow company will disburse by
wire transfer directly to a newly-opened separate segregated DIP
account, all of the net proceeds of the sale (less the brokers'
commissions and ordinary costs of sale) to be held pending further
Court Order, subject to any and all liens, claims, interests, and
encumbrances (if any), plus any defenses and objections thereto (if
any) held by: (i) the J. Walter Schaefer Testamentary Trust, as
evidenced by that certain deed of trust dated Jan. 31, 2019
(recorded Feb. 2, 2019 with Los Angeles County Recorder's Office),
No. 20190105973), or otherwise; (ii) the Bank, on account of its
Replacement Lien, or otherwise; and/or (iii) any other party;
immediately prior to the close of escrow.

               About Schaefer Ambulance Service

Schaefer Ambulance Services, Inc. -- http://www.schaeferamb.com/--
is an emergency medical services provider specializing in basic
life support; paramedic; critical care; neonatal; event standbys;
and other specialized medical services.  The Company offers ground
transport for hospitals, urgent care centers, convalescent homes,
physicians, insurance companies, fire departments and
private/public events.  Schaefer Ambulance was founded by Walter
Schaefer in 1932.

Schaefer Ambulance Services filed a Chapter 11 petition (Bankr.
C.D. Cal. Case No. 19-11809) on Feb. 20, 2019.  In the petition
signed by Leslie Maureen McNeal, treasurer, the Debtor estimated $1
million to $10 million in assets and $1 million to $10 million in
liabilities.  The case is assigned to Judge Neil W. Bason.  Craig
G. Margulies, Esq., at Margulies Faith LLP, is the Debtor's
counsel.  BidMed, LLC is the asset liquidation broker.


SCOOBEEZ INC: May Continue Cash Collateral Use Through Dec. 6
-------------------------------------------------------------
Judge Julia Brand of the U.S. Bankruptcy Court for the Central
District of California authorized Scoobeez, Inc. and its affiliates
continued use of cash collateral through Dec. 6, pursuant to the
terms of a Second Stipulation entered into by and among the
Debtors, Hillair Capital Management LLC and Hillair Capital
Advisors LLC, the general partner of Hillair Capital Investments
LP, and the Official Committee of Unsecured Creditors.

The hearing on the Debtors' Cash Collateral Motion will be
continued to Dec. 5, 2019 at 10:00 a.m.  Supplemental briefs in
support of the Motion and continued use of cash collateral will be
filed and served by no later than Nov. 21.  Supplemental responses
in opposition to the motion and continued use of cash collateral
will be filed and served by no later than Nov. 28.

                          About Scoobeez

Scoobeez Inc. -- https://www.scoobeez.com/ -- operates an on demand
door-to-door logistics and real time delivery service company.  It
offers messaging, same day and preferred deliveries, and courier
services.

Scoobeez Inc. and its affiliates, Scoobeez Global Inc. and Scoobur
LLC, sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. C.D. Cal. Lead Case No. 19-14989) on April 30, 2019.  The
cases have been assigned to Judge Julia W. Brand.

At the time of the filing, Scoobeez Inc. was estimated to have
assets and liabilities of between $10 million and $50 million;
while Scoobur had estimated assets and liabilities of less than
$50,000.  Menawhile, Scoobeez Global disclosed $6,274,654 in assets
and $7,886,579 in liabilities.

Foley & Lardner LLP is the Debtors' bankruptcy counsel.  Conway
Mackenzie, Inc., is the Debtors' financial advisor.

The Office of the U.S. Trustee appointed a committee of unsecured
creditors on May 20, 2019.  The committee retained Levene, Neale,
Bender, Yoo & Brill LLP as its counsel.


SFKR LLC: Case Summary & 4 Unsecured Creditors
----------------------------------------------
Debtor: SFKR, LLC
        15834 FM 2493
        Tyler, TX 75703

Business Description: SFKR, LLC is a privately held company
                      based in Tyler, Texas.

Chapter 11 Petition Date: October 1, 2019

Court: United States Bankruptcy Court
       Eastern District of Texas (Tyler)

Case No.: 19-60674

Judge: Hon. Bill Parker

Debtor's Counsel: Eric A. Liepins, Esq.
                  ERIC A. LIEPINS
                  12770 Coit Road
                  Suite 1100
                  Dallas, TX 75251
                  Tel: (972) 991-5591
                  E-mail: eric@ealpc.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Shahzad Asghar, managing member.

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

            http://bankrupt.com/misc/txeb19-60674.pdf


SHAPE TECHNOLOGIES: S&P Downgrades ICR to 'B-'; Outlook Negative
----------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on Kent,
Wash.-based waterjet pump manufacturer Shape Technologies Group
Inc. to 'B-' from 'B'.

At the same time, S&P is lowering its issue-level ratings on the
company's $350 million term loan due in 2025 (which includes a $300
million term loan and a $50 million incremental term loan) and $15
million revolving credit facility due in 2023 to 'B-' from 'B'. The
'4' recovery rating is unchanged.

Profit margins remain compressed due to higher tariff rates,
greater freight and storage costs, and persistent restructuring and
transaction expenses. The downgrade follows weaker-than-expected
operating performance as a result of challenging market conditions
in Europe and softness in the company's automotive end markets,
coupled with higher costs dampening profitability. Gross margins
declined because of higher tariff rates on key materials such as
raw metals, tubing, and abrasives. Shape Technologies also
experienced greater freight and storage costs related to the
transportation of its inventory safety stock which was produced to
support the transition of manufacturing from Washington to Kansas.
Beginning in 2018, the company consolidated duplicative ultra-high
pressure (UHP) manufacturing operations to a single production
facility in Kansas. Through the first half of 2019, the company has
continued to absorb costs related to operating inefficiencies and
delays in reaching full productivity at its Kansas facility.
Despite S&P's view that much of the restructuring costs will
subside in the second half of 2019, the incremental debt issued in
June to pay a distribution to the sponsor and the transaction costs
associated with the partial sale to DCP Capital have increased the
company's debt burden and contracted margins such that it now
believes leverage will remain elevated above 9x and cash flow
generation will be negative in 2019. S&P's revised forecast
incorporates more conservative revenue growth and profitability
assumptions than its prior estimate resulting in a modest revenue
decline and adjusted EBITDA margins below 10% in 2019.



SIMBECK INC: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Simbeck, Inc.
        2929 Valley Avenue
        Winchester, VA 22601

Business Description: Simbeck, Inc. -- http://www.simbeckinc.com/
                      -- is a transportation company with
                      experience in long-haul, regional, and
                      short-haul truckload freight.  With a fleet
                      of more than 70 trucks, Simbeck is located
                      along Interstate 81 in Northern Virginia
                      providing the Company access to all major
                      shipping corridors along the east coast; and
                      from Virginia to Texas.

Chapter 11 Petition Date: October 1, 2019

Court: United States Bankruptcy Court
       Western District of Virginia (Harrisonburg)

Case No.: 19-50868

Judge: Hon. Rebecca B. Connelly

Debtor's Counsel: Hannah White Hutman, Esq.
                  HOOVER PENROD, PLC
                  342 South Main Street
                  Harrisonburg, VA 22801
                  Tel: 540-433-2444
                  Fax: 540-433-3916
                  E-mail: hhutman@hooverpenrod.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Michael Darnell, Jr., 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/vawb19-50868.pdf


SKEFCO PROPERTIES: To Pay Creditors From Rental Income
------------------------------------------------------
Skefco Properties, Inc., submits this Disclosure Statement.

Class 2: The Prepetition Secured Claim of Community Bank. Community
Bank holds a prepetition secured claim on the Debtor’s real
property known as 3071 Douglass Avenue, Memphis, Shelby County,
Tennessee. The total amount owed Class 2 is $60,000.00. This claim
shall be fully secured at $27,553.00 with a 6.0% interest rate and
a monthly payment of $550.00.

Class 3: The Prepetition Secured Claim of Rennasant Bank .
Rennasant Bank holds a pre-Petition secured claim in the form of a
deed of trust on the Debtor’s real property knows as Memphis,
Shelby County, Tennessee in the amount of $108,000.00. This claim
shall be fully se-cured with a 6.0% interest rate and a payment of
$1,600.00.

Class 4: Prepetition Secured Claim of the Estate of Harry Valsamis.
The Estate of Harry Valsamis holds a prepetition secured claim on
the Debtor’s real property known as Memphis, Shelby County,
Tennessee in the amount of $1,250,000.00.

Class 5: Prepetition Secured Tax Claim of Shelby County Trustee.
The Shelby County Trustee holds a prepetition secured tax claim for
delinquent property taxes and is secured by the Debtor’s real
property in the amount of $112,000.00. This claim shall be fully
secured at 12% interest rate and a monthly payment of $1,244.00.

Class 6: Prepetition Secured Tax Debt of The City of Memphis: The
City of Memphis holds a prepetition secured tax claim for
delinquent property taxes and is secured by the Debtor’s real
property in the amount of $96,000.00. This claim shall be fully
secured at 12% interest and a monthly payment of $1,280.00.

Funds needed to make cash payments on the  effective date on
account of allowed administrative claims, under the Plan will come
from the  rental income of the Debtor.

A full-text copy of the Disclosure Statement dated September 25,
2019, is available at https://tinyurl.com/yyue9s8b from
PacerMonitor.com at no charge.

Attorney for the Debtor:

     John E. Dunlap, Esq.
     The Law Offices of John E. Dunlap, P.C.  
     3340 Poplar Avenue, No. 320
     Memphis, Tennessee 38111
     (901) 320-1603
     (901) 320-6914
     jdunlap00@gmail.com

                  About Skefco Properties
  
Skefco Properties, Inc. sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. Tenn. Case No. 19-26580) on Aug. 20,
2019.  At the time of the filing, the Debtor disclosed $4,473,400
in assets and $1,693,357 in liabilities.  The case has been
assigned to Judge Jennie D. Latta.  The Debtor is represented by
the Law Office of John E. Dunlap.


SMG US: Moody's Reviews B3 CFR for Upgrade Amid AEG Merger Deal
---------------------------------------------------------------
Moody's Investors Service placed on review for upgrade all the
ratings for SMG US Midco 2, Inc, including the company's B3
Corporate Family Rating, B3-PD Probability of Default Rating, B1
first lien term loan rating and Caa2 second lien term loan rating.
Concurrently, Moody's also placed SMG Merger Sub, Inc.'s B1
revolver rating on review for an upgrade.

The rating action follows the announcement that SMG completed its
merger with AEG Facilities, LLC in an all stock transaction,
forming a new entity ASM Global (ASM). SMG's equity sponsor Onex
and Anshutz Entertainment Group, Inc. (AEG), and their respective
affiliates are contributing their entire equity investments in SMG
and AEG Facilities, respectively, into the combined business and
are now equal co-owners of ASM.The combined entity will benefit
from increased scale, revenue and earnings diversification and
greater operational flexibility.

The review will focus on the structural and contractual
arrangements for the existing debt facilities at SMG and the
governance arrangements for the combined entity, ASM Global.
Moody's will also review the strength and the strategic direction
of the combined entity, the effect of the transaction on credit
metrics and liquidity, and financial polices under the new
ownership structure.

On Review Upgrade:

Issuer: SMG US Midco 2, Inc.

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

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

  Gtd Senior Secured First Lien Term Loan, Placed on Review for
  Upgrade, currently B1 (LGD3)

  Gtd Senior Secured Second Lien Term Loan, Placed on Review
  for Upgrade, currently Caa2 (LGD5)

Issuer: SMG Merger Sub, Inc.

  Gtd Senior Secured First Lien Revolving Credit Facility,
  Placed on Review for Upgrade, currently B1 (LGD3)

Outlook Actions:

Issuer: SMG US Midco 2, Inc.

  Outlook, Changed To Rating Under Review From Stable

RATINGS RATIONALE

SMG's existing credit profile and the current B3 CFR is constrained
by its high financial leverage, aggressive financial policies, and
small scale, despite the company's leading market share in the
outsourced venue management industry. SMG's revenues are somewhat
sensitive to macroeconomic conditions that impact demand for
consumer entertainment and the convention center business. The
market is competitive, which may increase the potential for pricing
concessions and capital spending as contracts come up for renewal.
These risks are partially mitigated by SMG's long standing
relationships with customers, high contract renewal rates, growing
demand for outsourced private venue management and barriers to new
entrants. The company's long-term contracts provide a high level of
predictability to near-term revenues, while the trend towards
outsourcing the management of convention centers and other
facilities by municipalities supports future growth opportunities.

SMG operates public assembly facilities such as arenas, convention
centers, stadiums and theaters. SMG typically assumes full
managerial responsibility for all aspects of facility operations,
including event booking and event management, and also provide
certain ancillary services such as food and beverage service.
Revenues for the LTM period ending June 30, 2019 were $310 million.
SMG is majority owned by funds affiliated with Onex Partners.

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


STAR CHAIN: "US Star" Restaurants, Owner File for Chapter 11
------------------------------------------------------------
Star Chain, Inc., and its affiliates that operate at least three
dozens of franchised restaurants throughout Georgia and South
Carolina have sought Chapter 11 protection.

Star Chain CEO and founder Omer Casurluk also commenced a Chapter
11 case.

Star Chain is a Georgia-based company that operates as the
management company for its "US Star" affiliates.  The affiliated
"US Star" debtors operate restaurants with franchisors Captain D's,
Checkers, Newk's and Yogli Mogli.  Casurluk owns the membership
interests in the Debtors.

The filing comes just five months after Star Chain announced its
entry into its first franchise development agreement with seafood
chain Captain D's.  As part of the agreement, StarChain USA is to
spearhead Captain D's growth in the Southeast and develop 15 new
restaurants throughout Arkansas and the Carolinas over the next
several years.

The Debtors have already filed customary first day motions,
including requests to pay prepetition claims of employees and key
vendors.  The Debtors are also seeking approval to use cash subject
to lender Wallis State Bank's first priority security interest in
order to maintain operations.

Star Chain didn't indicate in court filings any plans to close
underperforming locations.

Star Chain, Inc., SC Restaurants Management, LLC and 24 "US Star"
affiliates sought Chapter 11 protection (Bankr. N.D. Ga. Case No.
19-65768) on Oct. 2, 2019.  Manager and owner Omer Casurluk also
filed a Chapter 11 petition (Case No. 19-65803).  The Debtors have
sought joint administration of the bankruptcy cases.

WIGGAM & GEER, LLC, and ROUNTREE LEITMAN & KLEIN, LLC are serving
as counsel to the Debtors.

Star Chain was estimated to have assets of $1 million to $10
million and liabilities of $10 million to $50 million as of the
bankruptcy filing.


STAR CHAIN: Case Summary & 30 Largest Unsecured Creditors
---------------------------------------------------------
Lead Debtor: Star Chain, Inc.
             11735 Pointe Place
             Roswell, GA 30076

Business Description: Star Chain, Inc., is a Georgia-based company
                      that operates as the management company for
                      all affiliated "US Star" debtors.  The
                      affiliated "US Star" debtors operate
                      approximately four dozen restaurants with
                      franchisors Captain D's, Checkers, Newk's,
                      and Yogli Mogli.  The Debtors' membership
                      interests are owned by the same person, Omer
                      Casurluk.  The Debtors have common secured
                      creditors and are part of one business
                      operation.

Chapter 11 Petition Date: October 2, 2019

Court: United States Bankruptcy Court
       Northern District of Georgia (Atlanta)

Twenty-seven affiliates that concurrently filed voluntary petitions
for relief under Chapter 11 of the Bankruptcy Code:

     Debtor                                       Case No.
     ------                                       --------
     Star Chain, Inc. (Lead Case)                 19-65768
     US Star 1, LLC                               19-65770
     US Star 3, LLC                               19-65771
     US Star 5, LLC                               19-65772
     US Star 6, LLC                               19-65773
     US Star 8, LLC                               19-65774
     US Star 9, LLC                               19-65775
     US Star 10, LLC                              19-65776
     US Star 11, LLC                              19-65778
     US Star 12, LLC                              19-65779
     US Star 16, LLC                              19-65780
     US Star 17, LLC                              19-65783
     US Star 18, LLC                              19-65784
     US Star 19, LLC                              19-65785
     US Star 20, LLC                              19-65787
     US Star 21, LLC                              19-65788
     US Star 26, LLC                              19-65789
     US Star 27, LLC                              19-65791
     US Star 30, LLC                              19-65792
     US Star 32, LLC                              19-65794
     US Star 33, LLC                              19-65795
     US Star 39, LLC                              19-65797
     US Star 41, LLC                              19-65798
     US Star 36, LLC                              19-65800
     US Star 31, LLC                              19-65801
     SC Restaurants Management, LLC               19-65802
     Omer Casurluk                                19-65803

Judge: Hon. Wendy L. Hagenau

Debtors' Counsel: Will B. Geer, Esq.
                  WIGGAM & GEER, LLC
                  50 Hurt Plaza, SE, Suite 1150
                  Atlanta, Georgia 30303
                  Tel: (404) 233-9800
                  Fax: (404) 287-2767
                  Email: wgeer@wiggamgeer.com

                    - and -

                  William A. Rountree, Esq.
                  ROUNTREE LEITMAN & KLEIN, LLC
                  Century Plaza I
                  2987 Clairmont Road, Ste. 175
                  Atlanta, Georgia 30329
                  Tel: (404) 584-1238
                  Fax: (404) 704-0246
                  Email: wrountree@rlklawfirm.com

Star Chain's
Estimated Assets: $1 million to $10 million

Star Chain's
Estimated Liabilities: $10 million to $50 million

The petition was signed by Omer Casurluk, manager.

A full-text copy of Star Chain's petition is available for free
at:

             http://bankrupt.com/misc/ganb19-65768.pdf

Consolidated List of Debtors' 30 Largest Unsecured Creditors:

   Entity                          Nature of Claim    Claim Amount
   ------                          ---------------    ------------
1. Wallis State Bank                                    $4,046,296
10055 Almeda Genoa, Suite 100
Houston, TX 77075
Email: evan.altman@laslawgroup.com

2. Healthy International                                $2,500,000
11735 Pointe Place
Roswell, GA 30076
Email: r.ahmadoghlu@gmail.com

3. Customized Distribution, LLC                         $1,305,396
605 Selig Dr. SW #A
Atlanta, GA 30336
Email: customerservice@cdi-llc.com

4. Hutton QSR, LLC                                      $1,000,000
736 Cherry St.
Chattanooga, TN 37402
Email: bharber@hutton.build
       info@hutton.build

5. Spring Home Builders, Inc.                             $960,000
11735 Pointe Place
Roswell, GA 30076
Email: burakmete@me.com

6. Dallas Growth Capital and                              $843,147
Funding, LLC
4890 Alpha Rd
Dallas, TX 75244
Email: hello@getsproutfunding.com

7. MTN2, LLC                                              $750,000
535 Cool Springs, Blvd Ste 120
Franklin, TN 37067-725 USA
Email: poreilly@mtn1llc.com

8. MBU Development Holdings, LLC                          $500,000
1 Churchill Place
Canary Wharf
London, United Kingdom,
E14 5 HP
Email: adid.hussain@mbucapital.com

9. Fox Capital Group, Inc.                                $460,400
21701 Steven Creek Blvd, Unit 2796
Cupertinio, CA 95015
Email: underwriting@foxbusinessfunding.com

10. Captain D's LLC                                       $400,000
624 Grassmere Park Dr., Suite 30
Nashville, TN 37211
Email: Keith_Davis@captainds.com

11. Rasvan Mizoyev                                        $400,000
174 Rutherford Pl
North Arlington, NJ 07031
Email: ravsan2001@gmail.com

12. ATA International                                     $250,000
c/o Alan Scheiderman
1935 Cliff Valley Ste 118
Atlanta, GA 30329
Email: ertanorbay@gmail.com

13. Augusta Burgers Express, Inc.                         $238,221
3540 Wheeler Road #514
Augusta, GA 30909
Email: andy@pye.comcastbiz.net

14. Eatan Orbay                                           $200,000
3240 Westfall Pkwy
Cumming, GA 30909
Email: ertanorbay@gmail.com

15. Balsayat Jaroyeva                                     $200,000
8100 River Road, Apt. 505
North Bergen, NJ 07047
Email: blysstatlanta@gmail.com

16. Gel Funding, LLC                                      $150,000
aka Chrome Capital
5308 13 Ave, Ste 324
Brooklyn, NY 11219
Email: info@chromecapitalfunding.com

17. Quick Bridge Funding, LLC                              $92,400
410 Exchange
Irvine, CA 92602
Email: sotero@quickbridge.com

18. Huseyin Civan                                          $65,000
4501 Avalon Blvd
Alpharetta, GA 30009
Email: huseyincivan@gmail.com

19. FreshPoint                                             $43,584
1200 Oakley Industrial Blvd, Ste. B
Fairburn, GA 30213
Fax: 704-599-8751

20. Carolina-Georgia Sound, Inc.                           $36,913
3062 Damascus Rd
Augusta, GA 30909
Email: sales@cgssoundvideo.com

21. Bimbo QSR Ohio, LLC                                    $36,849
3005 East Pointe Dr.
Zanesville, OH, 43701
Email: Tamara.Cullins@grupobimbo.com

22. Wasserstrom Restaurant Supply                          $32,644
PO Box 182046
Columbus, OH 43218
Fax: 614-340-7175

23. Ahmed H. Zaki, C.P.A. P.C.                             $25,860
2434 GA - 120 Ste 110
Duluth, GA 30097
Email: ahmed@zakicpa.com

24. Bainbridge Management Inc.                             $21,739
890 F. Atlanta, ST #235
Roswell, GA 30075
Email: mhornsteiner@earthlink.com

25. Fidelity Bank                                          $16,000
PO Box 105075
Atlanta, GA 30348
Email: customersupport@lionbank.com

26. Citibank, N.A.                                          $4,000
PO Box 6191
Sioux Falls, SD 57117
Fax: 605-330-6801

27. Capital One                                                 $0
PO Box 30281
Salt Lake City, UT 84130
Email: customerservice@capitalone.com

28. Pawnee Leasing Corporation                             Unknown
3801 Automation Way, Suite 207
Fort Collins, Co. 80526
Fax: 970-482-2666

29. Amur Equipment Finance, Inc.                           Unknown
308 N. Locust St. #100
Grand Island, NE 68801
Email: customerCare@amuref.com

30. Rasvan Mizoyev                                        $360,000
174 Rutherford Pl
North Arlington, NJ 0703
Email: ravsan2001@gmail.com


STARFISH HOLDCO: Moody's Affirms B3 CFR, Outlook Stable
-------------------------------------------------------
Moody's Investors Service affirmed Starfish Holdco, LLC's B3
Corporate Family Rating and B3-PD Probability of Default Rating. At
the same time, Moody's affirmed the ratings for Sahara Parent,
Inc., including B2 senior secured first lien bank credit facilities
ratings and Caa2 senior secured second lien term loan rating. The
outlook is stable.

Syncsort is issuing a $600 million incremental first lien term loan
and a $100 million incremental second lien term loan which together
with the new equity from its financial sponsors will be used to
fund the $700 million acquisition of the Software Solutions
business from Pitney Bowes Inc., to add $12 million of cash to
balance sheet and to pay related fees and expenses. Pro forma for
the transaction debt-to-EBITDA is in the mid-8x (as adjusted by
Moody's excluding unrealized synergies and expensing software
development costs for the LTM ended 30 June 2019).

This is a transformative transaction for Syncsort. The acquisition
will double the company's size, broaden its product offering and
improve the company's competitive position in the growing data
quality market. Management has identified approximately $52 million
in cost synergies that it expects to realize within 18 months of
closing.

The affirmation of the ratings reflects Moody's forecasts for low
single digit revenue growth and strong execution on cost synergies
over the next 12-18 months such that debt-to-EBITDA will decrease
below 7x. Moody's also expects that free cash flow to debt will
improve to around 3% by 2021, after the cash requirements related
to the carve-out and restructuring are largely complete in 2020.

Affirmations:

Issuer: Starfish Holdco, LLC

  Corporate Family Rating, Affirmed B3

  Probability of Default Rating, Affirmed B3-PD

Issuer: Sahara Parent, Inc.

  Gtd Senior Secured First Lien Revolving Bank Credit
  Facility, Affirmed B2 (LGD3)

  Gtd Senior Secured First Lien Term Loan, Affirmed B2 (LGD3)

  Gtd Senior Secured Second Lien Term loan, Affirmed Caa2 to
  (LGD6) from (LGD5)

Assignments:

Issuer: Sahara Parent, Inc.

  Corporate Family Rating, Assigned B3

  Probability of Default Rating, Assigned B3-PD

Outlook Actions:

Issuer: Starfish Holdco, LLC

  Outlook, Remains Stable

Issuer: Sahara Parent, Inc.

  Outlook, Remains Stable

Following these rating actions, Moody's will withdraw the Corporate
Family Rating, Probability of Default Rating and outlook at
Starfish Holdco, LLC for administrative reasons.

RATINGS RATIONALE

Syncsort's B3 CFR reflects its high pro forma debt-to-EBITDA
estimated in the mid-8x (as adjusted by Moody's excluding
unrealized synergies and expensing software development costs) for
the LTM ended 30 June 2019, the increased level of operational
risks associated with the integration of a similarly-sized
business, and the aggressive financial policy with a history of
debt funded acquisitions under private equity ownership. The rating
also reflects Syncsort's modest operating scale relative to its
high debt levels and certain of its products declining revenue
trends. Moody's expects free cash flow to be negative in 2020 as
initial cash outlays will be needed to execute the carve-out and
complete the integration and planned cost improvements. Moody's
expects the combined company's revenues to grow in the low single
digit percentage range over the next 12-18 months and
debt-to-EBITDA to decline to below 7x driven mainly by synergy
realization. The ratings are supported by the combined company's
improved competitive position, increased breadth of product
offering in data quality solutions and revenue diversity, as well
as a high portion of recurring revenue and a track record of high
gross retention rates.

The stable outlook reflects Moody's expectations that management
will successfully integrate both businesses and achieve the planned
cost synergies that will support leverage falling below 7x over the
next 12-18 months. Moody's also expects that the company will
maintain at least adequate liquidity and revert to positive free
cash flow generation in 2021.

Moody's could upgrade Syncsort's ratings if the company
demonstrates strong organic growth and maintains financial strategy
that will sustain debt-to-EBITDA leverage below 6x and free cash
flow to debt above 5%.

The ratings could be downgraded if Syncsort experiences an organic
revenue decline, margin deterioration or any other operating
challenges related to the integration of Software Solutions.
Quantitatively, this could be represented by debt-to-EBITDA
exceeding 8x or negative free cash flow beyond 2020.

The first lien credit facility contains incremental facility
capacity up to the greater of $125 million or 75% consolidated
EBITDA, plus an additional amount subject to either a 4.5x pro
forma First Lien Net Leverage Ratio or 6x Secured Net Leverage
Ratio. In addition, Syncsort has the ability to release a guarantee
when a subsidiary is not wholly-owned. Collateral leakage is
permitted through the transfer of assets to unrestricted
subsidiaries, subject to the limitations and baskets in the
negative covenants. There are no leverage-based step-downs to the
requirement that 100% of net asset sale proceeds be used to prepay
the loans with the right to reinvest or commit to reinvest within
15 months.

Sahara Parent, Inc. is the co-borrower under the existing credit
facilities, along with Vero Parent, Inc. The co-borrowers are
restricted subsidiaries of Starfish Holdco, LLC, the ultimate
parent company, which is the guarantor and the financial reporting
entity.

The principal methodology used in these ratings was Software
Industry published in August 2018.

Syncsort is a global software company specializing in Big Data,
high-speed sorting products, data protection, data quality and
integration software and services, for mainframe, power systems and
open system environments to enterprise customers. Syncsort is
majority owned by Centerbridge with remaining ownership stakes held
by Clearlake and management. The company generated $612 million of
pro forma revenue as of the last twelve months ended June 30, 2019.


STARFISH HOLDCO: S&P Affirms 'B-' ICR on Pitney Bowes Acquisition
-----------------------------------------------------------------
S&P Global Ratings affirmed its 'B-' issuer credit rating on
Syncsort parent Starfish Holdco LLC.

The rating affirmation follows Syncsort's agreement to purchase
Pitney Bowes' Software Solutions business for $700 million. The
transaction will be funded with a $600 million incremental
first-lien term loan, a $100 million incremental second-lien term
loan, and new cash equity from Syncsort's owners. The company will
upsize its secured revolving credit facility to $125 million.

Meanwhile, S&P affirmed its 'B-' issue-level rating on the
company's first-lien bank debt; the '3' recovery rating is
unchanged. It also affirmed its 'CCC' issue-level rating on the
company's second-lien term loan; the '6' recovery rating is
unchanged.

S&P's rating on Syncsort reflects starting leverage in the high-10x
area, which the rating agency expects to fall to the 7x area in the
12 to 24 months following the close of the transaction, on
improving EBITDA margins from cost reductions. It also reflects the
integration risk of the transaction, the company's narrow product
focus, and its limited growth trajectory. However, S&P believes the
company's decision to diversify away from IBM mainframes, its
strong recurring revenues, and its diverse customer base will keep
business operations stable.

The stable outlook reflects S&P's view that Syncsort will be able
to realize meaningful reductions in the target's cost structure and
that the company could absorb modest downside to the rating
agency's forecast within the rating, should the integration cause
some business disruption. S&P expects Syncsort will have leverage
in the 7x area in the 12 to 24 months following the transaction on
EBITDA margin expansion through a focus on profitability and cost
synergies. While Syncsort will generate only slightly positive
unadjusted FOCF over the next 12 months on incurrence of large
one-time restructuring costs, S&P expects that the restructuring
costs will roll off and drive unadjusted FOCF to low-$60 million
area in 2021.

"We could lower the rating if the capital structure becomes
unsustainable. This could occur if poor execution of the
integration, business disruptions from the cost synergy plan, or
prolonged one-time or restructuring costs leave EBITDA depressed,"
S&P said, adding that it could also lower the rating if unadjusted
FOCF is negative and liquidity is weakened due to competitive
pressures or large debt-financed acquisitions or shareholder
returns.

"Although unlikely over the next 12 months, we could raise the
rating over the longer term if Syncsort is able to successfully
integrate the acquisition, generate FOCF to debt above 5%, and
sustain leverage below 7x through acquisitions and shareholder
returns. The company has a track record of utilizing balance sheet
capacity for acquisitions, so it would need to change its growth
strategy to achieve these benchmarks," S&P said.


STARS GROUP: Fitch Puts B+ IDR on Rating Watch Negative
-------------------------------------------------------
Fitch Ratings placed The Stars Group's and subsidiaries ratings,
including its 'B+' Issuer Default Rating and instrument ratings on
Rating Watch Positive. Fitch's action reflects the announcement
that TSG is being acquired by Flutter Entertainment plc , a
Dublin-based bookmaker and online gaming operator. The RWP reflects
Flutter's -- the surviving entity following the acquisition --
better credit profile.

KEY RATING DRIVERS

Pro forma the acquisition, expected to close mid-2020, Flutter's
shareholders will have an approximately 54.6% stake in the combined
entity. Flutter will have net debt/EBITDA of around 3.5x excluding
GBP140 million of synergies and will approximately double in size
in terms of revenues. Flutter will have 82% of its revenues come
from regulated markets, and will have a leading exposure to U.S.
sports betting with two brands, FanDuel and Fox Bet.

TSG's debt could be refinanced around the time of the acquisition
closing, given Flutter's likely lower cost of capital at closing
relative to TSG's coupon cost. TSG's $3.2 billion term loan is
prepayable and its $1 billion of 7% unsecured notes would be
subject to a make-whole premium before the first call date, which
is July 15, 2021.

The RWP will be resolved upon the consummation of the merger, which
may take place subsequent to six months in the future.

KEY RATING DRIVERS

Dominant Poker Platform: The Stars Group Inc.'s PokerStars online
poker platform captures a significant majority of the online poker
volume in the regions where it operates. Players gravitating toward
more active platforms that offer more variety of games and larger
tournaments reinforce PokerStars dominate position. PokerStars also
acts as a low-cost player-acquisition channel for TSG's casino and
sports-betting segments. These segments were launched around 2015
and grew to $504 million in revenue for the LTM June 30, 2019, with
minimal marketing expenditure.

Sky Bet Acquisition: The 2018 acquisition of Sky Bet & Gaming,
referred to as the U.K. segment, increases TSG's diversification
across business lines and decreases exposure to unregulated
markets. 2Q19 revenue exposure to poker, casino and sportsbook is
30%, 31% and 36%, respectively, and 79% is attributable to
regulated markets. The main risk surrounding unregulated markets is
the possibility that they may develop regulations that are more
stringent. This in turn, can adversely affect TSG's margins or
force TSG out of the market. Sky Bet benefits from a loyal customer
base, branding agreement with Sky Plc and a strong mobile
platform.

Clear Path to Deleverage: TSG's strong FCF profile will allow for
fast deleveraging. Fitch Ratings forecasts 5.4x debt/EBITDA at YE
2019, declining to 4.1x by 2021. TSG's track record of quick debt
reduction following the acquisition of PokerStars, the credit
facility's excess cash flow sweep and FCF/debt ratio of 10%-15%
through 2021 provide deleveraging visibility. TSG repaid $100
million outstanding on the revolver in 4Q18 and repaid $350 million
of its term loan YTD 2019. TSG's liquidity profile is solid,
providing a clear runway and visibility for deleveraging. There are
no maturities until 2025 and no financial covenants on the term
loan. TSG has a $700 million revolver with $626 million available
as of June 30, 2019.

Legal Overhang: In 2015, a trial court awarded Kentucky $870
million against TSG relating to PokerStars' operations in the
commonwealth in 2006-2011, a period in which PokerStars operated
illegally in the U.S. TSG appealed the decision and won the appeal
in December 2018 in the Kentucky Court of Appeals. The commonwealth
then filed a motion to have the Kentucky Supreme Court review the
case, and the higher court granted discretionary review of the
appeals court's ruling in April 2019. If the Kentucky Supreme Court
rules in the commonwealth's favor, TSG will seek to recover the
ultimate damages from the prior owners. There is a seller's escrow
account related to the 2014 PokerStars acquisition, with
approximately $300 million contributed at the time of sale.

U.S. Opportunity: TSG plans to enter the U.S. sports-betting market
through its partnership with Fox Sports and its access agreements
with land-based operators granting access to up to 20 states.
Announced in May 2019, the Fox Sports partnership includes Fox
Sports acquiring a 4.99% stake in TSG for $236 million (used for
debt repayment), the ability of Fox Sports to acquire up to 50% of
the U.S. sports-betting business (U.S. venture only; to be named
Fox Bet), and exclusive commercial terms.

Fox Sports broadcast will integrate Fox Bet content while TSG
committed to a minimum guaranteed marketing spend and to certain
affiliate payments for certain Fox-sourced customers. Fox Sports
may opt for a 50/50 ownership agreement upon meeting regulatory
requirements, at which point the commercial terms will cease. TSG
launched Fox Bet in New Jersey and Pennsylvania and its
free-to-play app Fox Sports Super 6 across the US.

DERIVATION SUMMARY

TSG's closest Fitch-rated peer is GVC Holdings plc (GVC), a large
Europe-focused online gaming company, but with land-based retail
operations in U.K. GVC has an IDR of 'BB+'. GVC's pro forma
leverage is around 3x relative to TSG's leverage in the mid-5x
range. Both companies intend to use their strong FCF profiles to
deleverage, with GVC targeting below 2x and TSG using FCF to reduce
debt although it feels more comfortable with higher leverage
longer-term than GVC. Companies are comparable in scale; however,
GVC is more exposed to U.K. and sports betting, while TSG remains
skewed toward poker, which it dominates. Sports betting is more
fragmented and exposed to competition.

KEY ASSUMPTIONS

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

  -- For the U.K. segment, Fitch assumes 7% revenue growth in 2020
and 5% in 2021. Australia segment is flat. International segment's
poker business is flat and gaming grows 5% per year. Fitch projects
U.S. sports betting business to ramp up to about $250 million in
revenues by 2021.

  -- Combined EBITDA margin declines to 35% in 2019, 34% in 2020
and 31% in 2021. Declining margin reflects the growth of the U.S
sports betting business, which management said might not break-even
until 2022.

  -- FCF of approximately $480 million-$585 million with annual
income tax of $55 million-$60 million; capex of about $150 million
and interest expense of $230 million-$290 million.

  -- No dividends or M&A assumed.

RATING SENSITIVITIES

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

  -- Debt/EBITDA below 5x with an expectation that debt/EBITDA will
not increase materially above that threshold if TSG debt funds
another acquisition;

  -- Discretionary FCF margin sustaining above 15%.

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

  -- Debt/EBITDA sustaining above 6x;

  -- Discretionary FCF margin declining into the single digit
range;

  -- TSG being ultimately liable for the Kentucky claim, with
negative rating action related to this hinging on TSG's financial
profile at the time the award is due and TSG's plan to fund the
award;

  -- Sharp decline in operations perhaps related to loss of market
share in the sportsbook or casino business or an acceleration in
the decline of poker's popularity.

LIQUIDITY AND DEBT STRUCTURE

Solid Liquidity: TSG's solid liquidity profile provides a clear
runway for deleveraging. There are no financial covenants on the
term loan and a $700 million undrawn revolver. TSG's revolver
matures in 2023, term loan B in 2025 and the senior unsecured notes
in 2026.

The recovery analysis for TSG assumes a going concern approach and
that the company would be reorganized. Fitch has assumed a 10%
administrative claims cost.

Going concern EBITDA assumes cyclical, regulatory and competitive
headwinds to the extent TSG is exposed to these pressures. Poker
has been resilient with TSG enjoying a dominant position in that
business. The International segment's casino business is largely
tied to the fortunes of poker, as TSG does not heavily market its
casino business and casino revenues are largely a by-product of
cross selling to its poker players. U.K. and Australian segment's
sports book business is susceptible to competitive pressures as
sports book business is to a considerable extent commoditized.
TSG's sportsbook business does have a valuable Sky brand
affiliation and has a niche position with a more casual, younger
gambler. Due to the migration of sportsbook from retail setting to
online, online sportsbook business does not have a through the
cycle track record. Online poker also does not have a cyclical
downturn yet, but it is arguably a more mature segment now and is
more susceptible to a recession.

Fitch assumes an $800 million going concern EBITDA for TSG's
recovery analysis. This is approximately 20% below TSG's 2019
guidance EBITDA and is lower than $837 million Fitch assumed during
the last review of TSG in 2018. The difference is largely
associated with higher than previously assumed regulatory headwind
pressure and the volatility in sports betting win margin.

Fitch assumes a 6.5x EV/EBITDA multiple for calculating enterprise
value for TSG. The company trades with an implied EV/EBITDA of
approximately 10x and M&A multiples in online gaming and sportbooks
are generally above 10x. Sky Bet and Ladbrokes Coral acquisitions
were both done at about 13x EV/EBITDA. The 6.5x restructuring
multiple used for TSG is in line with what Fitch uses for other
large diversified online gaming and gaming supplier companies. TSG
has better growth prospects and higher FCF margins than some of its
peers.


TAMARACK AEROSPACE: Seeks to Hire Lee & Hayes as IP Counsel
-----------------------------------------------------------
Tamarack Aerospace Group, Inc., seeks approval from the U.S.
Bankruptcy Court for the Eastern District of Washington to hire Lee
& Hayes, P.C. as special counsel.

The firm will assist the Debtor with the protection, registration
and enforcement of rights with respect to its technology,
intellectual property and business matters.

The firm's hourly rates are:

     Corporate/Trademark
     -------------------
     Daniel Wadkins       $300
     Shaun Cross          $344
     Joshua Grandinetti   $177
     Paralegals           $129

     Patent
     ------
     David Divine         $520
     Joel Lohrmeyer       $415
     Paralegals           $150
  
Lee & Hayes neither holds nor represents any interest adverse to
the Debtor's bankruptcy estate, according to court filings.

The firm can be reached through:

     Daniel M. Wadkins, Esq.       
     Lee & Hayes, P.C.
     601 W. R iverside Ave., Suite 1400
     Spokane, WA 99201
     Phone: 509-944-4787
     Email: dwadkins@leehayes.com

                    About Tamarack Aerospace

Tamarack Aerospace Group, Inc. -- https://tamarackaero.com/ -- is
an aerospace engineering and aircraft modification company in
Sandpoint, Idaho.  It designs and develops innovative technology
for business, commercial, and military aircraft, specializing in
its revolutionary Active Winglets.

Tamarack Aerospace Group sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. E.D. Wash. Case No. 19-01492) on June 1,
2019.  At the time of the filing, the Debtor was estimated to have
assets of between $10 million and $50 million and liabilities of
the same range.  The case is assigned to Judge Frederick P. Corbit.
The Debtor is represented by John D. Munding, Esq., at Munding,
P.S.


TAMARACK AEROSPACE: Seeks to Hire Moss Adams as Accountant
----------------------------------------------------------
Tamarack Aerospace Group, Inc., seeks approval from the U.S.
Bankruptcy Court for the Eastern District of Washington to hire
Moss Adams, LLP, as its accountant.

The services to be provided by the firm include the preparation of
income tax returns and consultation with respect to accounting and
tax matters.  

The firm's hourly rates are:

         Partner             $470
         Senior Manager      $355
         Senior              $190
         Staff               $170

Jason Munn, a partner at Moss Adams, disclosed in court filings
that the firm neither holds nor represents any interest adverse to
the Debtor's bankruptcy estate.

The firm can be reached through:

     Jason Munn
     Moss Adams, LLP
     601 W. Riverside, Suite 1800
     Spokane, WA 99201
     Phone: (509) 777-0119

                 About Tamarack Aerospace Group

Tamarack Aerospace Group, Inc. -- https://tamarackaero.com/ -- is
an aerospace engineering and aircraft modification company in
Sandpoint, Idaho.  It designs and develops innovative technology
for business, commercial, and military aircraft, specializing in
its revolutionary Active Winglets.

Tamarack Aerospace Group sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. E.D. Wash. Case No. 19-01492) on June 1,
2019.  At the time of the filing, the Debtor was estimated to have
assets of between $10 million and $50 million and liabilities of
the same range.  The case is assigned to Judge Frederick P. Corbit.
The Debtor is represented by Munding, P.S., led by founding
partner John D. Munding.


TIERPOINT LLC: Fitch Lowers LT IDR to B-, Outlook Still Negative
----------------------------------------------------------------
Fitch Ratings downgraded TierPoint, LLC's Long-Term Issuer Default
Rating to 'B-' from 'B'. In addition, Fitch has downgraded
TierPoint's issue ratings. The Rating Outlook remains Negative. The
Long-Term IDR and security ratings affect approximately $1.0
billion of debt, including term loans and a $220 million revolver.

TierPoint reported stabilization and improved trends in recent
quarters following a disappointing 2018. However, the competitive
landscape remains challenged for smaller data center operators;
capital intensity for the industry is high; the company has high
leverage; and liquidity has become increasingly pressured. Fitch
believes these factors could limit its ability to grow consistently
over time, although growing demand for data center services
provides a positive market backdrop. Fitch believes TierPoint is
focused on delivering double-digit EBITDA growth over time.

KEY RATING DRIVERS

High Leverage: TierPoint's expansion strategy and private ownership
structure has led to elevated leverage ratios. On a last quarter
annualized basis, Fitch calculates debt/EBITDA at June 2019 of 7.5x
(reported total net leverage of 6.6x). Fitch believes the company
is focused on improving organic trends and further integrating past
deals in order to manage its leverage profile, but this may prove
challenging in a competitive industry. Fitch forecasts gross
leverage could be elevated and above 7.0x at least through 2020
absent any equity infusion and/or asset sales, as TierPoint
continues to stabilize its EBITDA and likely continues to burn
cash.

Liquidity Getting Tighter: TierPoint competes in a competitive and
capital-intensive industry, and the company must continue to invest
in order to maintain customers and drive growth. The combination of
high leverage, operational issues in recent years and capital
intensity has pressured liquidity with nominal cash and 39% of its
revolver drawn as of June 2019. Fitch believes liquidity has become
much tighter and will require the company to raise additional debt
and/or equity capital. TierPoint's capex ranged from 20%-30% of
revenue per year over the past few years, and Fitch expects
elevated levels of spend to continue, contributing to negative FCF
in 2019-2020.

Secular Growth Drivers Remain in Place: Data center demand
increased significantly over the past decade driven by factors such
as global internet adoption, increased smartphone usage, and
enterprise outsourcing. Fitch believes these market forces will
continue to drive growth for DC providers in the coming years.
Cisco projects annual global data center IP traffic to triple to
20.6 zettabytes (Zb) and data center storage to quadruple to 2.6 Zb
between 2016 and 2021. For context, a zettabyte is a billion
terrabytes. Fitch believes DC traffic growth, combined with an
increasingly positive enterprise sentiment toward hybrid
deployments, will favor carrier-neutral DC providers such as
TierPoint.

Fragmented and Competitive Market: Despite a favorable demand
backdrop, however, the fragmented nature of the DC industry has
kept it susceptible to pricing pressure and excess capacity from
new builds. Oversupply remains a key risk for TierPoint, given
large amounts of capital being spent in the industry at
increasingly high valuations. In addition to industry supply risks,
growth in hyperscale/cloud providers is a material competitive
threat. Cloud providers such as Amazon's AWS and Microsoft Azure
are witnessing substantial growth and could eventually threaten the
core value proposition for traditional data center providers.
However, spending on hybrid cloud services, which includes
Infrastructure as a Service (IaaS) offerings from TierPoint, is
expected to grow at a higher rate than spending on public cloud.

Diversified Customer Base: TierPoint operates 42 facilities in 20
markets and serves approximately 4,000 customers, with its largest
customer at approximately 2.4% of monthly recurring revenue (MRR).
This results in a fragmented customer base with its top 25
customers comprising only roughly 16% of MRR. The fragmented
customer base reduces customer concentration risk and earnings
volatility. Fitch views this favorably, as it enhances
predictability of the company's future financial performance. Also
of note, TierPoint strategically targets secondary markets where
competition is less intense, and focuses on small to medium sized
enterprises (SMEs).

High Proportion of Recurring Revenue: Approximately 97% of the
company's revenue is recurring in nature with typical service
contracts extending for three years, creating a high level of
visibility into future revenue streams. Data center customers tend
to look for long-term stability as IT infrastructure is critical
for enterprises, and there are some switching costs, albeit less so
than 5-10 years ago. This results in a lengthy sales cycle and
fairly sticky customer base, as evidenced by average monthly churn
of 0.9%-1.7% from 2016 through 1H 2019 (fiscal 2019 expected to be
fairly similar).

Shift to Managed Services: TierPoint generates 51% of its total
revenue from colocation, but the mix has shifted since 2015 to more
managed services. Management is strategically shifting toward
managed hosting and cloud services as it encompasses a larger part
of the industry value chain, and attracts a larger set of potential
customers. The increased exposure to a greater part of the value
chain is expected to increase customer stickiness. A greater mix of
managed cloud services is also projected to increase capital
efficiency, as it tends to be less capital intensive. Fitch
believes this mix shift provides some diversification beyond
colocation but it is unclear the margin impact over time.

DERIVATION SUMMARY

TierPoint's ratings and Outlook are supported by Fitch's view that
the data center industry will benefit over the next several years
from growth in data usage and continued outsourcing of internal IT
needs. This secular tailwind provides a positive operating backdrop
for TierPoint. The DC space comprises a range of players including
wholesale providers such as Digital Realty, retail colocation
providers such as Equinix, which offers a smaller footprint and
shorter lease terms, cloud service providers such as Amazon's AWS,
and managed hosting vendors such as Rackspace Hosting. TierPoint
provides both retail colocation and managed services, the latter of
which has become a bigger piece of its business through both
acquisitions over the years and organic growth. Relative to some of
its larger peers, TierPoint targets secondary U.S. markets where
competition is less severe and focuses on small to mid-sized
enterprises (SMEs) in these markets.

Offsetting these positive industry demand trends is margin
compression since 2015 and spotty execution. Margins stabilized and
improved in 1H 2019, but the company will need to show continued
improvement over the next several years in order to keep leverage
in check. Fitch believes recent internal changes and improved
trends could help, but Fitch would look for sustained execution as
well as a prudent approach to managing cash flows.

KEY ASSUMPTIONS

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

  -- Revenue: organic growth in the low- to mid-single digit
percentage range over the ratings horizon, with modestly higher
growth in Managed Services versus Colocation;

  -- EBITDA: margins improve modestly to the low-to-mid-30% range
in the next few years versus approximately 31% in 2018;

  -- Capex: remains at 20% plus of revenue, as the company
continues to invest in its portfolio and expand its capacity.

  -- Debt/leverage: assumed leverage remains high in the 6.0x-7.0x
range over the ratings horizon.

RATING SENSITIVITIES

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

  -- TierPoint shows sustained improvement in operating
fundamentals, including consistent mid-single digit or higher
revenue and/or EBITDA growth;

  -- Adjusted gross leverage, Fitch-defined as Total Adjusted
Debt/Operating EBITDAR, expected to be sustained near 6.0x or
below;

  -- Free cash flow generation trends toward consistent break-even
or positive.

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

  -- Access to liquidity sources deteriorate, including a majority
of revolving facilities being utilized and/or interest coverage
declining to mid-1.0x or below;

  -- Adjusted gross leverage expected to be sustained near 8.0x or
higher.

LIQUIDITY AND DEBT STRUCTURE

Liquidity Tied to External Capital: Liquidity risk is high as the
company continues to rely on its revolver to fund its operations.
Fitch estimates the company may have nearly 50% of its revolver
drawn down within the next year absent any equity infusion and/or
asset sales. TierPoint's liquidity profile has been pressured by
its consistently negative free cash flow, causing the company to
fund deficits with its revolver. The company reported a FCF burn of
$28 million in 1H 2019, $46 million in 2018, $36 million in 2017,
and $200 million cumulatively since 2015. As of June 2019, the
company has approximately $134 million of availability under its
$220 million revolver. Fitch believes even if FCF break-even is
attained in the next couple of years, it may prove challenging to
sustain given the capital-intensive nature of the DC industry.

Debt Structure: All of the company's debt consists of credit
facilities including: (i) a $220 million revolving credit facility
(with the potential to be upsized) that terminates in May 2022;
(ii) a $700 million first lien term loan maturing in May 2024; and
(iii) a $220 million second lien term loan maturing in May 2025.
There are no near-term maturities and only minimal amounts of
amortization payments in the coming years. Thus, there is limited
maturity and/or refinancing risk in the near term. However,
liquidity risk is high as the company continues to rely on its
revolver to fund its operations.


TOWER AUTOMOTIVE: Moody's Withdraws B1 CFR on Autokiniton Deal
--------------------------------------------------------------
Moody's Investors Service withdrew its ratings for Tower Automotive
Holdings USA, LLC's including the company's B1 Corporate Family
Rating and Senior Secured Rating.

Ratings withdrawn:

Issuer: Tower Automotive Holdings USA, LLC:

B1, Corporate Family Rating;

B1-PD, Probability of Default Rating;

SGL-2, Speculative Grade Liquidity Rating;

B1 (LGD4), senior secured term loan.

Outlook withdrawn:

Issuer: Tower Automotive Holdings USA, LLC:

Positive outlook

RATINGS RATIONALE

The withdrawal follows the completion of the acquisition of Tower
International, Inc. by Autokiniton Global Group. Upon completion of
the acquisition, Holdings's rated debt was repaid.

Tower International, Inc. headquartered in Livonia, Michigan, is a
leading integrated global manufacturer of engineered structural
metal components and assemblies primarily serving automotive
original equipment manufacturers. The company manufactures
body-structure stampings, frame and other chassis structures, as
well as complex welded assemblies, for small and large cars,
crossovers, pickups and SUVs. Revenues for the LTM period ending
June 30, 2018 approximated $1.5 billion.


TPRO ACQUISITION: S&P Assigns 'B-' ICR; Outlook Stable
------------------------------------------------------
S&P Global Ratings assigned its 'B-' issuer credit rating to TPro
Acquisition Corp., the parent company of TruckPro. The outlook is
stable.

The rating action follows TruckPro's entry into an agreement with
financial sponsor Platinum Equity to be acquired for an undisclosed
amount. TPro plans to partly fund the transaction with proposed
$300 million senior secured notes due 2026.

Meanwhile, S&P assigned a 'B-' issue-level rating to the proposed
senior secured notes. S&P's '4' recovery rating indicates its
expectation for average recovery (30%-50%; rounded estimate: 40%)
in the event of payment default.

The rating on TPro reflects its high leverage, exposure to general
U.S. economic conditions and cycles, competitive industry pricing,
and relatively narrow scope of operations.

TPro's high debt leverage and financial sponsor ownership are key
rating factors. S&P anticipates TPro will remain highly leveraged
following the proposed acquisition by Platinum Equity, with
adjusted debt to EBITDA of approximately 6x in 2019. S&P expects
the company's leverage to improve over time, largely through EBITDA
growth. The rating agency also believes the company's ownership by
a financial sponsor could preclude sustained debt reduction,
particularly given typical financial sponsor strategies that
utilize aggressive leverage.

S&P's stable outlook on TPro reflects its expectation that the
company will experience some growth from consumer end market demand
for its products and services due to the stable growth in the aging
commercial vehicle fleet. The rating agency assumes FFO to debt
will remain in the mid-single-digit percent range this year while
debt to EBITDA will be about 6x in 2019.

"We could lower our ratings over the next 12 months if we believe
the company's capital structure is unsustainable over the long term
or if weaker than expected operating performance results in
meaningful cash outflows or liquidity strain. This could occur if
free operating cash flow turns negative. While we believe these
scenarios to be unlikely, such factors may be material
considerations even if the company might not face a credit or
payment crisis within 12 months," S&P said.

"Although unlikely over the next 12 months, we could raise the
ratings if the company improves debt to EBITDA well below 5x, with
free operating cash flow to debt above 5%. We would have to believe
that these levels would be sustained and that the financial sponsor
would commit to maintaining these levels in lieu of debt-financed
acquisitions or dividends. This could occur through the successful
achievement of operational improvements and execution of the
company's growth strategy, while not increasing debt balances," S&P
said.


TRI-PROPERTIES LTD: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: Tri-Properties, Ltd.
        5440 Harvest Hill Road, Suite 220
        Dallas, TX 75230

Business Description: Tri-Properties, Ltd. is a privately held
                      company in the real estate business.

Chapter 11 Petition Date: September 30, 2019

Court: United States Bankruptcy Court
       Northern District of Texas (Dallas)

Case No.: 19-33280

Judge: Hon. Stacey G. Jernigan

Debtor's Counsel: Joyce W. Lindauer, Esq.
                  JOYCE W. LINDAUER ATTORNEY, PLLC
                  12720 Hillcrest Road, Suite 625
                  Dallas, TX 75230
                  Tel: (972) 503-4033
                  Fax: (972) 503-4034
                  E-mail: joyce@joycelindauer.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Bebe Horton, manager.

The Debtor lists Kirtland Realty Group, LP as its sole unsecured
creditor holding a claim of $20,000.

A full-text copy of the petition is available for free at:

          http://bankrupt.com/misc/txnb19-33280.pdf


TRINSEO S.A.: S&P Downgrades ICR to 'B+' on Weaker Credit Measures
------------------------------------------------------------------
S&P Global Ratings lowered its issuer credit ratings on Berwyn,
Pa.-based materials company Trinseo S.A. to 'B+' from 'BB-'. The
outlook is stable.

S&P said, "At the same time, we are lowering the issue-level
ratings on Trinseo's secured debt to 'BB' from 'BB+', and lowering
the issue-level ratings on unsecured debt to 'B+' from 'BB-'. The
recovery ratings on this debt are unchanged."

"The rating action follows weaker-than-expected performance over
the past few quarters, and our expectation for difficult industry
conditions for at least the next 12 months. We attribute recent
weakness primarily to broad-based weakness in China and the
automotive sector in China and Europe. Trade uncertainty related to
the U.S.-China tariffs has led to reduced consumer confidence in
China which has affected demand across most end markets including
automotive. Automotive sales are a key demand driver for styrene
products including synthetic rubber in tires and hard- and
soft-touch plastics used in vehicle interiors. The weakness over
the past few quarters has led to declines in both sales price and
sales volume for Trinseo. In addition, Trinseo faced multiple
unplanned outages at styrene production facilities in 2019. These
factors have combined to result in credit measures that are weaker
than our previous expectations. We now expect adjusted debt to
EBITDA of between 3x-4x in our base case."

"The stable outlook on Trinseo S.A. reflects our expectation that
its credit metrics will remain at a level consistent with the
ratings over the next 12 months. Our base-case scenario assumes
that global trade uncertainty remains a headwind, resulting in 2019
EBITDA margins of 9%-11%. We forecast adjusted debt to EBITDA of
3x-4x in 2019, a level we consider appropriate for the ratings
after accounting for volatility in the company's EBITDA and credit
measures."

"We could downgrade the company if debt to EBITDA were to increase
and approach 5x within the next 12 months. This could occur if
EBITDA margins dropped by more than 400 basis points as a result of
a global economic slowdown which caused volatility in styrene
markets, such that margins drop sustainably toward pre-2015 levels.
We could also lower the ratings if liquidity weakens such that
sources of liquidity dropped below 1.2x uses or if we believe the
company would be challenged to comply with covenants. We could also
lower ratings if, against our expectations, the company were to
undertake any large debt-funded growth projects, acquisitions, or
shareholder rewards, which could stretch credit measures beyond
what we would view appropriate for the current rating."

"We could consider a one-notch upgrade over the next 12 months if
the company expands EBITDA margins to the mid-to-high-teens percent
range, driven by favorable styrene market conditions and a timely
and effective resolution to the U.S.-China tariff situation, and if
these conditions led to the ratio of debt to EBITDA improving to
below 3x sustainably. To consider an upgrade, we would need to be
more certain that financial policies would be supportive of
maintaining these credit metrics. Given the volatility in Trinseo's
business, we would need to determine that any future leverage level
is sustainable through a downturn before contemplating a positive
rating action. We could also consider an upgrade if structural
changes in the industry Trinseo participates in, combined with
improving operating efficiency, led to more predictability in the
company's earnings, which could lead us to reassess the company's
business risk at a higher level."


TROIANO TRUCKING: Allowed to Use Cash Collateral Until Oct. 31
--------------------------------------------------------------
Judge Christopher J. Panos of the U.S. Bankruptcy Court for the
District of Massachusetts entered a third order authorizing Troiano
Trucking, Inc., and its debtor-affiliate to use cash collateral in
the ordinary course of its business, up to the amounts and for the
purposes set forth in the budget, to and including Oct. 31, 2019.

As adequate protection for the Debtor's use of cash collateral:

      (a) All parties asserting a security interest in the assets
of the Debtor are granted replacement lien in and to all property
of the kind presently securing the Debtor's obligations to the
secured parties, but only to the extent of the validity,
perfection, priority, sufficiency and enforceability of the secured
parties’ pre-petition security interests. Said liens will be
recognized to the extent of any diminution of the value of the
collateral resulting from the use of cash collateral pursuant to
this Order and will specifically not extend to any post-petition
avoidance recoveries.

      (b) The Debtor will continue to both maintain its assets and
equipment and maintain insurance on its assets and equipment.

      (c) The Debtor will supply Avidia Bank and any other secured
party requesting same a copy of all operating statements filed with
the U.S. Trustee simultaneously with submission of the financial
statements to the U.S. Trustee and a weekly report of receipts and
disbursements.

A further evidentiary hearing on the Cash Collateral Motion is
scheduled for Oct. 29, 2019 at 11:00 a.m. Objections to the
continue use of cash collateral will be due on Oct. 25 at 4:30
p.m.

The Debtor is directed to file, on or before Oct. 22, a notice of
supplemental filings with respect of said Motion, attaching an
updated 13-week budget; a reconciliation comparing actual receipts
and disbursements on a line item basis through the last full week
prior to Oct. 22 deadline; and a proposed form of order regarding
the continued use of cash collateral.  

                     About Troiano Trucking

Troiano Trucking, Inc. -- http://www.troianotrucking.com/-- is a
privately held company in Grafton, Mass., in the waste hauling
business.  The company maintains a fleet of four trucks, which
allows it to service its customers with removal of bakery waste,
rubbish, demolition materials and recyclables.  It serves
construction companies, roofing companies, bakeries and individual
home owners.

Troiano Realty, LLC, is a real estate lessor whose principal assets
are located at 109 Creeper Hill Road, North Grafton, Mass.  The
property is valued at $1.48 million based on tax valuation
assessment method.

Troiano Trucking and Troiano Realty sought protection under Chapter
11 of the Bankruptcy Code (Bankr. D. Mass. Lead Case No. 19-40656)
on April 23, 2019.  At the time of the filing, Troiano Trucking
estimated assets and liabilities of between $1 million and $10
million.  Troiano Realty disclosed $1,485,000 in assets and
$4,220,210 in liabilities.


U.S. STEEL: S&P Alters Outlook to Negative, Affirms 'B' Ratings
---------------------------------------------------------------
S&P Global Ratings revised its outlook on U.S. Steel Corp. to
negative from stable, and affirmed its 'B' ratings on the company
and its senior unsecured debt.

The outlook revision on United States Steel Corp. follows the
announcement of its proposed acquisition of a 49.9% interest in Big
River Steel LLC for about $700 million, financed with drawings on
U.S. Steel's upsized $2 billion asset-based loan (ABL) revolver. In
addition to affirming S&P's 'B' long-term issuer credit rating on
U.S. Steel, S&P also revised its recovery rating on its unsecured
debt to '4' from '3' because the upsized revolver adds secured debt
in S&P's hypothetical default scenario. S&P estimates that the
additional $700 million of debt would push adjusted debt to EBITDA
above 4x for 2019, and potentially above 5x if market conditions
remain weak for the next 12-18 months. The ratings on Big River
Steel LLC (B/Stable) are unchanged stemming from this transaction.

The negative outlook reflects the risks that protracted weak market
conditions could exacerbate negative cash flow through the
construction of several important projects.

"We could lower the rating if adjusted debt to EBITDA rises above
5x in 2020, which we estimate could be associated with negative
discretionary cash flow of over $500 million and tighter liquidity
with about a year of transformative growth capital spending
remaining. Currently low steel prices would cause such a financial
scenario if poor market conditions held for another year. Less
likely at this stage in the Mon Valley project, we could also lower
the rating because of unforeseen execution problems or cost
overruns," S&P said.

"We could revise the outlook back to stable as the company
progresses on its Mon Valley investments amid better market
conditions, returning debt to EBITDA below 4x with adequate
liquidity to complete its investments on time and on budget. We
estimate this could occur with a significant rebound in hot-rolled
coil steel prices to $675-$700 per ton in 2020," S&P said.



V R ASHIRWAD: Unsecureds to Get Monthly Payments of $325
--------------------------------------------------------
This is the Disclosure Statement in the small business chapter 11
case of V R Ashirwad LLC.

Class 4 General Unsecured Class are impaired. Monthly Payments of
$325.00. Payments Begin in Effective date. Payments End on 12
months.

Class 2 Secured claim of Khoj Enterprises are impaired. Monthly
Payments of $1,877.64. Payments Begin in Regular. Monthly Payments
End for 16 years.

Class 3 Secured claim of Ozona Bank are impaired. Monthly Payments
of $17,143.29. Payments Begin in Effective date. Payments End for
10 years.

Payments and distributions under the Plan will be funded by the
following: Operation of the Motel.

A full-text copy of the Disclosure Statement dated September 25,
2019, is available at https://tinyurl.com/y4tygjck from
PacerMonitor.com at no charge.

Attorney for Debtor:

     Steven G. Cennamo, Esq.
     Malaise Law Firm
     909 NE Loop 410, Suite 300
     San Antonio, TX 78209

                      About V R Ashirwad

V R Ashirwad LLC owns and operates the Days Inn Hotel located at
9403 Poteet Jourdanton Freeway, which is valued at $1.29 million.

V R Ashirwad LLC, which conducts business under the name Days Inn
Palo Alto, filed a Chapter 11 petition (Bankr. W.D. Tex. Case No.
19-50314) on Feb. 12, 2019.  The petition was signed by Dilipbhai
Patel, managing member.  The case is assigned to Judge Craig A.
Gargotta.  At the time of filing, the Debtor had $1,380,984 in
assets and $1,872,859 in liabilities.  The Debtor is represented by
Todd J. Malaise, Esq., at Malaise Law Firm.


VALADOR INC: May Continue Cash Collateral Use Through Dec. 31
-------------------------------------------------------------
The Hon. Klinette Kindred of the U.S. Bankruptcy Court for the
Eastern District of Virginia authorized Valador Inc.'s use of cash
collateral during the period from Sept. 1 to Dec. 31, 2019 pursuant
to the terms, conditions and limitations set forth in the Fourth
Interim Consent Order.

During the Interim Period, Valador may use cash collateral only for
the purposes and amounts set forth in the Budget. Valador will not
use cash collateral to pay any administrative expenses, other than
the quarterly fees that may be due to the U.S. Trustee's Office and
attorney's fees to Valador's counsel as specifically set forth in
the Budget and approved by the Court.

In the event that the actual amount paid by Valador for any line
item expense in the Budget exceeds by more than 20% of the amount
for such line item as set forth in the Budget, Valador will be in
default under the Fourth Interim Consent Order.

Valador acknowledges and agrees that: (a) as of the Petition Date,
it owed Essex Bank approximately $1,102,354 under the Loan and the
Loan Documents; (b) the Loan Documents are valid, binding and
enforceable against it; and (c) Essex Bank holds a valid,
first-priority, duly perfected lien and security interest in and
against the collateral to secure repayment of the amounts owed by
Valador to Essex Bank under the Loan.

Valador grants in favor of Essex Bank a first-priority
post-petition security interes and lien in, to and against all
assets which are or have been acquired, generated or received by
Valador subsequent to the Petition Date, as collateral and security
for the repayment of all indebtedness and amounts that are owed by
Valador to Essex Bank under the Loan and the Loan Documents. In
addition, Valador grants Essex Bank a first-priority post-petition
security interest and line in the Valador's DIP Accounts and all
funds now or hereafter on deposit therein.

As additional adequate protection to Essex Bank, on September 20,
October 20, November 20 and December 20, Valador will deliver to
Essex Bank an adequate protection payment in the amount of $8,500.
Such payments will be applied by Essex Bank to reduce the amounts
that are owed by Valador to Essex Bank under the Loan and the Loan
Documents.

To the extent that the other protections granted in the Fourth
Interim Consent Order are insufficient to provide adequate
protection of Essex Bank's interests in the Collateral, Essex Bank
is granted a priority administrative claim against the Debtor and
the Debtor-in-Possession having priority over all administrative
expenses other than quarterly fees that are due to the U.S.
Trustee's Office, including, but not limited to, the administrative
expenses described in Sections 503(b) and 507(b) of the Bankruptcy
Code and any expenses or fees incurred by Valador or its estate in
connection with the prosecution of avoidance actions under Sections
544 through 550 of the Bankruptcy Code.

Moreover, interest will continue to accrue on the unpaid principal
balance that is owed by the Debtor to Essex Bank under the Loan
Documents at the rate of interest specified therein until all
amounts owed thereunder have been paid in full. The Debtor will
maintain casualty insurance on the collateral and will name Essex
Bank as a loss payee on all insurance policies insuring the
collateral. And the Debtor will provide Essex Bank with evidence of
such insurance on demand. The Debtor will also timely pay all
payroll taxes and other taxes that it owes to any local, state and
federal taxing authority.

A copy of the Fourth Interim Consent Order is available for free
at

            http://bankrupt.com/misc/vaeb18-14168-132.pdf

                        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.


VALERITAS HOLDINGS: CR Group Hikes Equity Stake to 70.6%
--------------------------------------------------------
In a Schedule 13D/A filed with the Securities and Exchange
Commission, these entities reported beneficial ownership of shares
of common stock of Valeritas Holdings, Inc., as of Sept. 30, 2019:

                                            Shares      Percent
                                         Beneficially     of
   Reporting Person                          Owned       Class
   ----------------                      ------------  ---------
   CR Group L.P.                          
   (f/k/a Capital Royalty L.P.)           17,459,878      70.6%  

   Capital Royalty Partners II L.P.        2,169,866      21.3%

   Capital Royalty Partners II               
   (Cayman) L.P.                             744,365       8.3%

   Capital Royalty Partners II             
   Parallel Fund "A" L.P.                  2,699,200       25.5%

   Capital Royalty Partners II             
   Parallel Fund "B" (Cayman) L.P.         8,651,441       51.8%
  
   Parallel Investment Opportunities       
   Partners II, L.P.                       3,195,006       28.0%
    
On Sept. 30, 2019, certain of the Reporting Persons purchased an
aggregate of 15,575,586 Shares of Series B Convertible Preferred
Stock through the exchange of an aggregate of $22.7 million of
indebtedness of the Issuer held by certain of the Reporting Persons
pursuant to that certain Series B Convertible Stock Purchase
Agreement dated Sept. 30, 2019 by and among certain of the
Reporting Persons, the Issuer and WCAS Capital Partners IV, L.P.

                      Term Loan Amendment No. 2

On Sept. 30, 2019, the Term Loan was further amended in order to:
(i) increase the interest paid thereunder to 13% per annum; (ii)
extend the time required prior to the initial required cash
interest payments to March 31, 2022 from June 30, 2019; and (iii)
provide the lenders under the term loan with a non-voting board
observer right.

Pursuant to the Series B Purchase Agreement, the Issuer and the
Funds (along with WCAS Capital Partners IV, L.P.) agreed to
exchange their pro rata portion of an aggregate $25.0 million of
the outstanding principal amount of the Issuer's debt into an
aggregate of 17,123,284 shares of the Issuer's to-be designated
Series B Convertible Preferred Stock at a purchase price of $1.46
per share.  The Issuer also agreed to amend the terms of the Series
A Convertible Preferred Stock.  The Funds exchanged an aggregate of
$22.7 million of indebtedness for an aggregate of 15,575,586 shares
of Series B Convertible Preferred Stock.

A full-text copy of the regulatory filing is available for free
at:

                        https://is.gd/NQ0bjd

                      About Valeritas Holdings

Valeritas -- http://www.valeritas.com/-- is a commercial-stage
medical technology company focused on improving health and
simplifying life for people with diabetes by developing and
commercializing innovative technologies.  Valeritas' flagship
product, V-Go Wearable Insulin Delivery device, is a simple,
affordable, all-in-one basal-bolus insulin delivery option for
patients with type 2 diabetes that is worn like a patch and can
eliminate the need for taking multiple daily shots.  V-Go
administers a continuous preset basal rate of insulin over 24
hours, and it provides discreet on-demand bolus dosing at
mealtimes.  It is the only basal-bolus insulin delivery device on
the market today specifically designed keeping in mind the needs of
type 2 diabetes patients.  Headquartered in Bridgewater, New
Jersey, Valeritas operates its R&D functions in Marlborough,
Massachusetts.  

Valeritas incurred a net loss of $45.92 million in 2018 following a
net loss of $49.30 million in 2017.  As of June 30, 2019, the
Company had $52.75 million in total assets, $60.66 million in total
liabilities, and a total stockholders' deficit of $7.90 million.

Friedman LLP, in East Hanover, New Jersey, the Company's auditor
since 2016, issued a "going concern" opinion in its report dated
March 5, 2019, on the Company's consolidated financial statements
for the year ended Dec. 31, 2018, citing that the Company has
recurring losses and negative cash flows from operations.  These
conditions, among others, raise substantial doubt about the
Company's ability to continue as a going concern.


VALERITAS HOLDINGS: Reduces Long-Term Debt by Nearly 60%
--------------------------------------------------------
Valeritas Holdings, Inc. has restructured a substantial portion of
its outstanding long-term debt, reducing the total debt balance by
an aggregate of $25.0 million.

Under the terms of the debt restructuring, $25.0 million of
Valeritas senior secured long-term debt held by CR Group L.P. (CRG)
affiliated funds and another creditor was exchanged for newly
created Valeritas Series B Convertible Preferred Stock, the terms
of which are disclosed in a Form 8-K to be filed with the SEC.  The
debt exchange reduces the outstanding balance of senior secured
debt to approximately $17.0 million.  The debt restructuring is
expected to save Valeritas approximately $8.0 million in cash
interest expense payments through March 2022.

Valeritas President and CEO, John Timberlake, stated, "As we
continue to see strong momentum in V-Go prescriptions from both our
tenured sales representatives and our newly hired sales
representatives, we were able to work with our creditors to
significantly reduce our long-term debt obligations.  The reduction
in our long-term debt obligations by nearly 60% and the elimination
of any cash interest payments until maturity, will result in
greater financial flexibility, significant cash savings, and better
positions us to continue to drive sales growth across our 75
territories in the U.S."

Separately, Valeritas expects to record revenue for the third
quarter ended Sept. 30, 2019 of approximately $8.5 million, as U.S.
revenue grew approximately 30% over the third quarter of 2018.  The
Company also reiterated its 2019 annual revenue guidance of $31.0
to $33.0 million.  The Company expects gross margin and operating
expenses to be approximately 50% and between $17.2 million and
$17.7 million for the third quarter of 2019, respectively.  Cash
and cash equivalents are expected to be approximately $23 million
at September 30, 2019 and total liabilities are expected to be
approximately $40 million at Sept. 30, 2019, down $20 million from
June 30, 2019, primarily due to the reduction in long-term debt.
Total liabilities at Sept. 30, 2019 are inclusive of a backend
facility fee associated with the restructured debt.

Mr. Timberlake continued, "We remain confident in our revenue
expectations for 2019 as V-Go prescription rates continue to
accelerate.  Additionally, we are excited by the prospects of
regulatory clearance for use of U-100 Regular Human Insulin (RHI)
in V-Go, as well as the results of our pharmacokinetic (PK) studies
using our h-Patch technology to deliver Cannabidiol (CBD) and
Apomorphine (APO) which will be presented at several industry
conferences."

Based upon recent regulatory feedback from the U.S. FDA, the
Company intends to file a 510K for its V-Go SIMTM blue-tooth
Accessory Product in the first quarter of 2020, which the Company
expects to launch immediately upon clearance by the FDA.

                     About Valeritas Holdings

Valeritas -- http://www.valeritas.com-- is a commercial-stage
medical technology company focused on improving health and
simplifying life for people with diabetes by developing and
commercializing innovative technologies.  Valeritas' flagship
product, V-Go Wearable Insulin Delivery device, is a simple,
affordable, all-in-one basal-bolus insulin delivery option for
patients with type 2 diabetes that is worn like a patch and can
eliminate the need for taking multiple daily shots.  V-Go
administers a continuous preset basal rate of insulin over 24
hours, and it provides discreet on-demand bolus dosing at
mealtimes.  It is the only basal-bolus insulin delivery device on
the market today specifically designed keeping in mind the needs of
type 2 diabetes patients.  Headquartered in Bridgewater, New
Jersey, Valeritas operates its R&D functions in Marlborough,
Massachusetts.  

Valeritas incurred a net loss of $45.92 million in 2018 following a
net loss of $49.30 million in 2017.  As of June 30, 2019, the
Company had $52.75 million in total assets, $60.66 million in total
liabilities, and a total stockholders' deficit of $7.90 million.

Friedman LLP, in East Hanover, New Jersey, the Company's auditor
since 2016, issued a "going concern" opinion in its report dated
March 5, 2019, on the Company's consolidated financial statements
for the year ended Dec. 31, 2018, citing that the Company has
recurring losses and negative cash flows from operations.  These
conditions, among others, raise substantial doubt about the
Company's ability to continue as a going concern.


VIRTU FINANCIAL: Fitch Affirms BB- LT IDRs, Outlook Still Negative
------------------------------------------------------------------
Fitch Ratings affirmed the Long-Term Issuer Default Ratings and
senior secured first lien debt ratings of Virtu Financial LLC and
its debt-issuing subsidiaries VFH Parent LLC, Impala Borrower LLC
and Orchestra Co-Issuer LLC (collectively - Virtu) at 'BB-'. The
Rating Outlook remains Negative.

KEY RATING DRIVERS

IDRs AND SENIOR DEBT

The affirmation of Virtu's ratings reflects its established market
position as a technology-driven market maker across various venues,
geographies and products, and improving scale and diversification
supported by the acquisitions of KCG Holdings in 2017 and
Investment Technology Group, Inc. (ITG) in March 2019. Virtu has
good historic operating performance, a scalable business model, an
experienced management team, and demonstrated execution against
operational and financial objectives. Fitch believes that Virtu's
market-neutral trading strategies in highly liquid products and
extremely short holding periods minimize market and liquidity
risks. Fitch also believes the firm's risk controls are robust, as
evidenced by minimal instances of material historical operational
losses.

The Negative Outlook continues to reflect Fitch's view of elevated
execution risk associated with the ITG acquisition in terms of
integration, achievement of envisioned profitability levels and
deleveraging. Fitch believes these risks could result in leverage
remaining above 2.5x, on a gross debt to EBITDA basis, for an
extended period of time, particularly in the event of a sustained
low volatility environment and/or market disruption. Fitch also
notes recent financial underperformance and historical governance
deficiencies at ITG, the latter of which resulted in settlements
with the SEC related to events up until late 2016. These risks are
partially balanced against the improved client execution franchise,
potentially reduced earnings volatility and improved geographic
diversification as a result of the transaction.

Virtu's cash flow leverage stood at 4.0x for the TTM ended 2Q19,
excluding any potential cost or capital synergies. Pro forma for
the consolidation of ITG earnings for 3Q18 and 4Q18, and $114
million in cost synergies committed to be realized by YE 2019,
leverage would be 3.2x. Should Virtu execute on the full amount of
expected cost savings ($167 million expected to be delivered by YE
2020), pro forma leverage would be 2.9x. At the announcement of the
ITG transaction, Virtu communicated its long-term leverage target
of 2.0x-2.25x to be achieved by end-2020. Deleveraging towards the
targeted level will require a combination of debt repayment and
revenue expansion, which is viewed as achievable by Fitch, but may
be conditioned upon financial market environment.

Interest coverage, as reflected in adjusted EBITDA to interest
expense was 5.4x for the TTM ended 2Q19. Pro forma for the run rate
interest expense on currently outstanding debt, Fitch calculates
interest coverage to be about 4.6x before synergies and 5.6x after
realization of cash cost synergies. These metrics are within
Fitch's 'bb' category quantitative benchmark range for securities
firms with low balance sheet usage of 3x to 6x.

Fitch views Virtu's liquidity as adequate, as the risks of its
confidence-sensitive and predominantly secured funding profile are
partially offset by the largely liquid balance sheet. Virtu's
operating liquidity needs depend on various factors, including
exchange and counterparty collateral requirements and settlements,
which can vary with the size of Virtu's trading assets and
liabilities and market volatility, although these amounts are
generally predictable due to Virtu's market-neutral trading
strategies.

At June 30, 2019, Virtu had $458.1 million in cash and cash
equivalents to support operating activities and capex, and for
general corporate purposes, as well as approximately $1.2 billion
of available borrowing capacity on Virtu's short-term credit
facilities at the broker dealer. Additionally, the balance sheet is
made up primarily of highly liquid trading assets and liabilities,
primarily securities inventory, which could be liquidated and
turned into cash in a one- to three-day settlement time frame under
normal market conditions.

Virtu's EBITDA margin is strong, at 28% for the TTM ended 2Q19, but
down from an average of 35% in 2015-2018, driven by the
consolidation of ITG, which operated with materially weaker
margins, and a challenging trading environment during 1H19, which
pressured Virtu's market making earnings. Fitch believes Virtu's
EBITDA margins could return to historical levels if cost synergies
are realized and market conditions improve. ITG posted relatively
weak financial results over the last several years, recording a
$43.0 million pre-tax loss in 2016 and $6.5 million and $10.0
million of pre-tax profits in 2017 and 2018, respectively, which
compares to about $65.0 million of pre-tax earnings in 2014 prior
to SEC settlements. Fitch also notes recent financial
underperformance and governance deficiencies at ITG, the latter of
which resulted in recent settlements with the SEC.

The execution against planned cost synergies has been relatively
good to date, in Fitch's view. Virtu achieved $45 million in cost
savings in 1H19 and the firm expanded its synergy guidance by 28%
in 2Q19 due to improved expectations related to personnel
reductions, communications and data processing items. Virtu expects
to reach 109% of initially expected cost synergies ($133 million)
by YE 2019. Overall cost synergy guidance was revised to $167
million and is expected to be realized by YE 2020. The additional
cost synergies were identified as Virtu progressed with integration
of ITG businesses to its platform. Virtu also identified $125
million in capital synergies, mostly in the form of reduced
prudential capital requirements as a result of optimization of
overlapping regulated broker-dealer subsidiaries. During 1H19,
Virtu was able to achieve $50 million in capital synergies which
were used to reduce amounts outstanding under the term loan.

The secured term loan rating is equalized with VFH's IDR,
reflecting average recovery prospects. The rating on the
second-lien notes is one notch lower than VFH's IDR reflecting
structural subordination and weaker relative recovery prospects.
Fitch expects to withdraw the rating of second lien notes upon the
completion of the tender offer.

SUBSIDIARY AND AFFILIATED COMPANIES

The ratings of VFH Parent LLC, Impala Borrower LLC and Orchestra
Co-Borrower LLC are equalized with those of Virtu, reflecting the
full ownership and unconditional guarantee on debt issued by those
entities.

RATING SENSITIVITIES

IDRs AND SENIOR DEBT

Negative rating actions could result from integration or execution
challenges associated with the ITG acquisition that result in
shortfalls in projected cost and capital synergies, an inability to
reduce leverage towards or below 2.5x on a gross debt/adjusted
EBITDA basis over the next 12-18 months, and a material
deterioration of interest coverage, or adverse legal or regulatory
actions against Virtu.

A rating downgrade could also result from material operational or
risk management failures, an inability to maintain Virtu's market
position in the face of evolving market structures and
technologies, and/or a material shift into trading less liquid
products.

Demonstrated progress deleveraging towards the company's
publicly-articulated long-term target of 2.0x-2.25x on a gross
debt/adjusted EBITDA basis, successful execution against stated
business and financial objectives associated with the ITG
acquisition, and a demonstrated ability to manage the potential
conflict of interest between the proprietary market making and
client execution businesses could lead to the Rating Outlook being
revised to Stable from Negative.

Positive rating action, though likely limited to the 'BB' rating
category, given the significant operational risk inherent in
technology-driven trading, could be driven by consistent operating
performance and minimal operational losses over a longer time
period while maintaining cash flow leverage consistently
at-or-below 2.0x on a gross debt/adjusted EBITDA basis. Increased
funding flexibility, including demonstrated access to third party
funding through market cycles, could also contribute to positive
rating momentum.

The secured term loan rating and second lien note rating are
primarily sensitive to changes in Virtu's IDR, and secondarily, to
material changes in Virtu's capital structure and/or changes in
Fitch's assessment of the recovery prospects for the debt
instruments.

SUBSIDIARY AND AFFILIATED COMPANIES

The ratings of VFH Parent LLC, Impala Borrower LLC and Orchestra
Co-Borrower LLC are equalized with those of Virtu and would be
expected to move in tandem.


WEST COAST DISTRIBUTION: U.S. Trustee Forms 3-Member Committee
--------------------------------------------------------------
The Office of the U.S. Trustee on Sept. 30, 2019, appointed three
creditors to serve on the official committee of unsecured creditors
in the Chapter 11 case of West Coast Distribution, Inc.

The committee members are:

     (1) Mike Butler, Principal
         Kevin Butler, Authorized Agent
         Western Area Security Services
         2919 Burbank Blvd.
         Burbank, CA 91362
         Tel: (818) 846-2215
         Email: mikebutler@westernarea.com

     (2) Christian J. Scali, Esq.
         Robert D. Daniels, Esq.
         Scali Rasmussen
         800 Wilshire Blvd., Suite 400
         Los Angeles, CA 90017
         Tel: (213) 239-5622
         Email: cscali@scalilaw.com
                rdaniels@@scalilaw.com
                rhernandez@@scalilaw.com
  
     (3) Carlos M. Torres, President
         Wendy Torres, Authorized Agent
         CM Supply Co.
         5936 Clara Street
         Bell Gardens, California 90201
         Email: cmsupplyco@yahoo.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 West Coast Distribution

West Coast Distribution Inc. is a full-service third party
logistics and supply chain management provider specializing in
apparel, retail and lifestyle brands.

West Coast Distribution sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. C.D. Cal. Case No. 19-20332) on Aug. 30,
2019.  At the time of the filing, the Debtor was estimated to have
assets of between $1 million and $10 million and liabilities of the
same range.  The case is assigned to Judge Sheri Bluebond.  The
Debtor is represented by Levene, Neale, Bender, Yoo & Brill LLP.


WEYERBACHER BREWING: Cash Collateral Use Continued Thru Nov. 11
---------------------------------------------------------------
Judge Richard E. Fehling of the U.S. Bankruptcy Court for the
Eastern District of Pennsylvania has issued a Fourth Final
Stipulation and Order authorizing Weyerbacher Brewing Company,
Inc.'s use of cash collateral until the earlier of (a) 5:00 p.m. on
Nov. 11, 2019; or (b) the date upon which an Event of Default
occurs.

A further hearing will be held on Nov. 4 at 10:30 a.m., during
which time the Court will consider whether Weyerbacher's use of
cash collateral can be extended beyond Nov. 11.

Branch Banking and Trust Company consents to Weyerbacher's use of
cash collateral to pay only the approved expenses set forth in the
Budget.  Weyerbacher will be permitted to exceed expenses in the
Budget, on a weekly basis, by an amount not to exceed either 5% of
total expenses or as otherwise agreed between Weyerbacher and BB&T.


Weyerbacher is also authorized to use cash collateral to pay the
interim Estate's Professional Fees and Expenses provided that such
Estate's Professional Fees and Expenses have been allowed by order
of the Court or are permitted to be paid under any future Order of
the Court.

Prior to the Petition Date, BB&T provided various loans and
financial accommodations to or for the benefit of Weyerbacher.  As
security for the Prepetition Loans, Weyerbacher granted BB&T valid
and perfected security interests in all of Weyerbacher's assets and
personal property, and all cash and non-cash proceeds thereof,
products thereof, additions and accessions thereto, substitutions
therefor, and replacements thereof. The liens and security
interests in favor of BB&T in the Prepetition Collateral are of the
first priority.  As of the Petition Date, the total outstanding
principal due to BB&T under the Prepetition Financing Documents is
approximately $2,148,952.

To the extent Weyerbacher's use of BB&T's cash collateral
diminishes the value of the Prepetition Collateral, BB&T is granted
the following as adequate protection for any such diminution in the
value of the Prepetition Liens:

      (A) Weyerbacher grants BB&T replacement liens on and security
interests in all of Weyerbacher's now existing and hereafter
acquired real and personal property and assets and all cash and
non-cash proceeds thereof, limited to only those types of
Prepetition Collateral in which BB&T has Prepetition Liens, to the
same extent, validity and priority as the Prepetition Liens.
However, such replacement liens and security interests will not
attach to any claims of Weyerbacher arising under Chapter 5 of the
Bankruptcy Code, if any, or the proceeds of such claims. Said
replacement liens will be of first priority.  

      (B)  Any diminution in the value of the Prepetition Liens in
favor of BB&T securing the Prepetition Obligations caused by the
Weyerbacher's use of cash collateral, which is not secured by the
Prepetition Collateral or Postpetition Collateral or otherwise
compensated through the Adequate Protection Payments, will
constitute a cost and expense of administration in the Bankruptcy
Case in accordance with Section 503(b)(1) of the Code.

      (C) Weyerbacher will timely pay BB&T: (i) the greater of
$15,000 or the regularly scheduled payments of interest on the
Prepetition Loans; and (ii) subject to the provisions of 11 U.S.C.
Section 506(b), the reasonable costs and expenses of BB&T incurred
in connection with the preparation and approval of the Stipulation
and Order, the preservation and protection of their rights, and the
collection of the Indebtedness, including, without limitation, all
filing fees and reasonable counsel fees incurred in connection with
the foregoing, and to the extent that the Weyerbacher's fail to
maintain insurance on the Prepetition Collateral and Post-Petition
Collateral, all insurance premiums and other payments reasonably
incurred by BB&T to adequately insure their interests in the
Prepetition Collateral and Post-Petition Collateral, and all such
other expenses, fees, and costs incurred by BB&T in connection with
the Bankruptcy Case, the Prepetition Obligations, and/or the
preservation of the Prepetition Collateral and Postpetition
Collateral.

As additional adequate protection for Weyerbacher's use of cash
collateral, and as a further condition to BB&T's entry into the
Stipulation and Order:

      (a) At BB&T's request, the Debtor will execute and deliver or
cause to be delivered to BB&T, as the case may be, and/or file with
the appropriate offices, such documents, financing statements,
amendments, and/or other things deemed necessary by BB&T, in its
reasonable discretion, to implement the substance and intent of the
Stipulation and Order.

      (b) Weyerbacher will continue to provide such reporting as
they are obligated to provide BB&T pursuant to the Pre-Petition
Financing Documents. In addition, Weyerbacher will provide BB&T
with a report listing (i) all of its outstanding accounts
receivable, an aging thereof, (ii) all of its outstanding accounts
payable, an aging thereof, (iii) an inventory report, and (iv) a
cash flow statement showing actual operations on a weekly basis and
comparing actual results to budgeted items of operation for all
prior periods.

      (c) Weyerbacher will provide BB&T and its consultants, if
any, with full and complete access to all financial books, records,
and files to, among other things, verify cash receipts, collateral
levels, and results of operations. In particular, and without
limiting the foregoing, Weyerbacher will permit the designated
representatives of BB&T to make such periodic inspections of the
Debtor's assets as such representative deem necessary and proper.

      (d) Weyerbacher will pay to BB&T all payments reflected on
the Budget as and when due.

      (e) The BB&T Costs and Expenses authorized under 11 U.S.C.
Section 506(b) will constitute a part of the Indebtedness and
payment of the same by BB&T will constitute an advance made on
behalf of the estate and will be paid by the Debtor to BB&T or its
professionals within 10 calendar days of receiving demand for
payment by BB&T or such professionals.

      (f) All Post-Petition Collateral and all Pre-Petition
Collateral will secure all Indebtedness to the extent limited in
the Stipulation and Order, and as limited in the Pre-Petition
Financing Documents.  

                   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.


WOLVERINE WORLD: S&P Alters Outlook to Negative, Affirms BB+ ICR
----------------------------------------------------------------
S&P Global Ratings revised its outlook on Rockford, Mich.-based
footwear maker Wolverine World Wide's (WWW) to negative from stable
and affirmed all ratings, including its 'BB+' issuer credit
rating.

The outlook revision reflects S&P Global Ratings' view that there
is little cushion in the WWW rating to absorb declines in operating
performance given its elevated leverage. The company's 2019 share
buyback plan is larger than past programs and has been funded
primarily with debt, which has resulted in leverage increasing to
3x. While S&P forecasts that the company will be able to reduce
leverage to below 3x in 2020, there is  risk that this will not
occur if the company has a weak fourth quarter due to unfavorable
weather dampening boot sales or if demand for its product weakens
because of a slowdown in the economy.  The negative outlook
reflects the potential for a downgrade if S&P expects Wolverine's
leverage to be sustained above 3x in 2020.

Leverage is currently high for the rating category. S&P could lower
its ratings on WWW if its leverage is sustained above 3x. Leverage
could remain elevated if the company continues its more aggressive
share repurchase plan and has a weak winter/holiday season, or if
the U.S. economy shows increasing signs of weakness, resulting in a
decline in product demand, reduced profitability, and an inability
to reduce leverage to a level consistent with the current rating.
S&P estimates this could occur if the company's EBITDA does not
improve by 5% from current levels.

S&P could revise its outlook to stable if the company performs in
line with its base-case assumption and reduces share repurchases
closer to historical levels, such that it believes leverage will
remain comfortably below 3x.


[*] BOOK REVIEW: THE SUCCESSFUL PRACTICE OF LAW
-----------------------------------------------
Author: John E. Tracy
Publisher: Beard Books
Soft cover: 470 pages
List Price: $34.95

Order a copy today at https://is.gd/fSX7YQ

Originally published in 1947, The Successful Practice of Law still
ably serves as a point of reference for today's independent lawyer.
Its contents are based on a series of non-credit lectures given at
the University of Michigan Law School, where the author began
teaching after 26 years of law practice. His wisdom and experience
are manifest on every page, and will undoubtedly provide guidance
for today's hard-pressed attorney.

The Successful Practice of Law provides timeless fundamental
guidelines for a successful practice. It is intended neither as a
comprehensive reference work, nor as a digest of law. Rather, it is
a down-to-earth guide designed to help lawyers solve everyday
problems -- a ready-to-tap source of tested proven methods of
building and maintaining a sound practice.

Mr. Tracy talks at length about developing a client base. He
contends that a firemen's ball can prove just as useful as an
exclusive party at the country club in making contacts with future
clients. He suggests seeking work from established firms as a way
to get started before seeking collections work out of desperation.

In his chapter on keeping clients, Mr. Tracy gives valuable lessons
in people skills: "(I)f a client tells you he cannot sleep nights
because of worry about his case, you will ease his mind very much
by saying, 'Now go home and sleep. I am the one to do the worrying
from now on.'" Rather than point out to a client that his legal
predicament is partly his fault, "concentrate on trying to work out
a program that will overcome his mistakes." He cautions against
speculating aloud to clients on what they could have done
differently to avoid current legal problems, lest they change their
stories and suddenly claim, falsely, that they indeed had done that
very thing. He also advises against deciding too quickly that a
client has no case: "After you have been in practice for a few
years you will be surprised to find how many seemingly desperate
cases can be won."

Mr. Tracy advises studying as the best use of downtime. He quotes
Mr. Chauncey M. Depew: "The valedictorian of the college, the
brilliant victors of the moot courts who failed to fulfill the
promise of their youth have neglected to continue to study and have
lost the enthusiasm to which they owed their triumphs on mimic
battle fields." Mr. Tracy advises against playing golf with one's
client every time he asks: "My advice would be to accept his
invitation the first time, but not the second, possibly the third
time but not the fourth."

Other topics discussed by Mr. Tracy, with the same practical, sound
advice, include fixing fees, drafting legal instruments, examining
an abstract of title, keeping an office running smoothly, preparing
a case for trial, and trying a jury case. But some of best counsel
he offers is the following: You cannot afford to overlook the fact
that you are in the practice of law for your lifetime; you owe a
duty to your client to look after his interests as if they were
your own and your professional future depends on your rendering
honest, substantial services to your clients. Every sound lawyer
will tell you that straightforward conduct is, in the end, the best
policy. That kind of advice never ages.

John E. Tracy was Professor Emeritus and Member of University of
Michigan Law School Faculty from 1930 to 1969. Professor Tracy
practiced law for more than a quarter century in Michigan,
New York City, and Chicago before joining the Law School faculty in
1930. He retired in 1950. He was born in 1880. He died in December
1969.



                            *********

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
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
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are $25 each.  For subscription information, contact Peter A.
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                   *** End of Transmission ***