/raid1/www/Hosts/bankrupt/TCR_Public/191022.mbx
T R O U B L E D C O M P A N Y R E P O R T E R
Tuesday, October 22, 2019, Vol. 23, No. 294
Headlines
2265 ENTERPRISE: Case Summary & 10 Unsecured Creditors
360 INTERNATIONAL: U.S. Trustee Forms 2-Member Committee
AAGS HOLDINGS: Has $30M Exit Financing; Unsecureds Unimpaired
ALTA MESA: Jan. 8, 2019 Auction of Substantially All Assets Set
AMERICA-CV STATION: Exclusivity Period Extended Until Dec. 10
APEX TOOL: S&P Affirms 'B-' ICR on Equity Add-In, Outlook Stable
APRO LLC: S&P Affirms 'B' Issuer Credit Rating on Refinancing
AVIANCA HOLDINGS: Carried More Than 2.4M Passengers in September
AYTU BIOSCIENCE: Armistice Capital Has 40% Stake as of Oct. 16
BARLEY FORGE: Granted Interim Cash Collateral Access Thru Nov. 6
BNG FITNESS: Hearing on $9K Sale of 2005 Honda VTX Abated
BOSTON DONUTS: Seeks Permission to Use Cash Collateral
BROOKVIEW TOWN: Case Summary & Largest Unsecured Creditors
BUILDING BLOCKS OF MADISON: Taps Hood & Bolen as Legal Counsel
BUILDING BLOCKS: Asks Court to Permit Use of Cash Collateral
CANDLEWOOD ESTATES: To Present Plan for Confirmation on Nov. 13
CATHERINE COURTS: Case Summary & 11 Unsecured Creditors
COHU INC: S&P Cuts ICR to 'B' on Weak Performance; Outlook Stable
COPELAND & LANE: Wants to Continue Using Cash Collateral
DAVID A. FLOYD: $1.4M Sale of Brewton Carwash to Eco Car Approved
DESTINATION MATERNITY: Case Summary & 30 Top Unsecured Creditors
DHX MEDIA: S&P Affirms 'B' Long-Term ICR on Expected Debt Reduction
DIONYMED BRANDS: Receives Default, BIA Notice from Glas USA
ESCUE WOOD: Sales Procedures for Milan Property Approved
FALLS EVENT: Trustee's Proposed $21K Sale of Property Approved
FERRELLGAS PARTNERS: S&P Lowers ICR to 'CCC-'; Outlook Negative
FIN ASSOCIATES: Taps Berger & Bornstein as Special Counsel
FIRSTENERGY SOLUTIONS: Files 8th Amended Reorganization Plan
FRUTTA BOWLS: Exclusivity Period Extended Until Nov. 14
GOOD NOODLES: May Obtain DIP Financing on Final Basis
HAGUE TEXTILES: Cash Collateral Hearing Continued to Dec. 19
HAMLETT ENTERPRISES: Nov. 13 Hearing on Disclosure Statement
HEATING & PLUMBING: Hercules Appointed as New Committee Member
HERMITAGE OFFSHORE: President Buys 70,000 Common Shares
HIGHLAND CAPITAL: NREA Not Part of Chapter 11 Cases
HOOD LANDSCAPING: $81K Sale of Sparks Property to Lynn Approved
JAUREGUI TRUCKING: Granted Cash Collateral Access Thru Nov. 12
JETSTREAM AVIATION: Cash Collateral Use Continued Through Feb. 28
JLD AUTOMOTIVE: Seeks to Hire David P. Lloyd as Legal Counsel
JOHN HOANG TRIEN: $60K Sale of 2 Anthony Lots to Casas Approved
JOHN HOANG TRIEN: $91.5K Sale of 3 Anthony Lots to Casas Approved
JOSEPH HEATH: $390K Sale of Alexandria Property to Stevenson Okayed
KAUMANA DRIVE: Seeks to Use Cash Collateral in Accord with Lender
LITTLE MINDS: Day Care Center Seeks to Use Cash Collateral
LOGISTICS BUDDY: Sale of Up to $1.2M of Accounts to WEX, Granted
LONGHORN SERVICE: Case Summary & 20 Largest Unsecured Creditors
MIAMI METALS: Dec. 12 Plan Confirmation Hearing Set
NEW YORK HELICOPTER: Taps White & Wolnerman as Legal Counsel
NUVIDORRA INC: Unsecured Creditors to Be Paid 100% in 84 Months
ONE BLUESKY: To Present Plan for Confirmation on Dec. 10
ORCHIDS PAPER: Committee Says Releases Make Plan Unconfirmable
PALMER EQUIPMENT: Seeks to Extend Exclusivity Period to Jan. 31
PALMETTO CONSTRUCTION: Taps Geist Law, Congeni as Legal Counsel
PARKINSON SEED: Creditor's Plan Contemplates Orderly Sale of Assets
PETROSHARE CORP: Taps Gordian Group as Investment Banker
PG&E CORPORATION: Gibson Dunn Represents Trade Committee
PURDUE PHARMA: Pillsbury Winthrop Represents Non-Consenting States
RL BROOKS TRUCKING: U.S. Trustee Unable to Appoint Committee
SAAD MARKETING: Bankr. Administrator Unable to Appoint Committee
SIMPLY GOOD: S&P Affirms 'B+' ICR on Proposed Quest Acquisition
STONE OAK MEMORY: Granted Interim OK to Use of Cash Collateral
STURDIVANT TAYLOR: Asks Court to Allow Use of Cash Collateral
STURDIVANT TAYLOR: Seeks to Hire Hood & Bolen as Legal Counsel
SUGARFINA INC: Oct. 22 Auction of Substantially All Assets Set
TEMPLE 2358: Unsecured Creditors to Recover 70% Under Plan
TSC DORSEY RUN: Oct. 28 Hearing on Debtor's Plan & Disclosures
VITO FASCIGLIONE: Parker Plan Outline Set for Jan. 10 Hearing
W & E TRUST: Seeks Permission to Use Cash Collateral
WALLACE & COMPANY: Case Summary & 20 Largest Unsecured Creditors
WESTERN ROBIDOUX: Case Summary & 20 Largest Unsecured Creditors
WISE ENTERPRISE: Court Approves Cash Collateral Deal With Synovus
WORSHIP CENTER: Exclusivity Period Extended Until Jan. 31
YIANNIS MEDITERRANEAN: Cash Collateral Use Continued Until Nov. 9
[^] Large Companies with Insolvent Balance Sheet
*********
2265 ENTERPRISE: Case Summary & 10 Unsecured Creditors
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Debtor: 2265 Enterprise East LLC
1360 East Ninth Street Suite 720
Cleveland, OH 44114
Business Description: 2265 Enterprise East LLC classifies its
business as Single Asset Real Estate (as
defined in 11 U.S.C. Section 101(51B)).
The Company owns a real estate commonly
known as 2265 East Enterprise Pkwy,
Twinsburg, OH 44087.
Chapter 11 Petition Date: October 20, 2019
Court: United States Bankruptcy Court
Northern District of Ohio (Akron)
Case No.: 19-52510
Judge: Hon. Alan M. Koschik
Debtor's Counsel: Thomas W. Coffey, Esq.
COFFEY LAW LLC
2430 Tremont Avenue Front
Cleveland, OH 44113
Tel: (216) 870-8866
E-mail: tcoffey@tcoffeylaw.com
Total Assets: $0
Total Liabilities: $1,558,834
The petition was signed by James P. Breen, managing member.
A full-text copy of the petition containing, among other items, a
list of the Debtor's 10 largest unsecured creditors is available
for free at:
http://bankrupt.com/misc/ohnb19-52510.pdf
360 INTERNATIONAL: U.S. Trustee Forms 2-Member Committee
--------------------------------------------------------
The U.S. Trustee for Region 5 on Oct. 17, 2019, appointed two
creditors to serve on the official committee of unsecured creditors
in the Chapter 11 case of 360 International, Inc.
The committee members are:
(1) Logic Control Systems, Inc.
Albert W. Gunther, III
601 Northline Street
Metairie, LA 70005
Phone: 337-504-4635
awgunther@gmail.com
(2) Energy Solutions Technology, LLC
Carl Comeaux, President
1200 Rue De Etoiles
Carencro, LA 70520
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 360 International Inc.
360 International Inc. manufactures power generators, vapor
recovery systems, compressors, switch gear & control panels, AFR
systems, catalytic converters, marathon motors/generators, and load
banks products. The Company also provides engine specific
preventive maintenance services.
360 International sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. La. Case No. 19-51062) on Sept. 10,
2019. In the petition signed by Jonathan Mann, president, the
Debtor disclosed $2,688,803 in assets and $1,784,518 in
liabilities. Judge John W. Kolwe oversees the case. Kent H.
Aguillard, Esq., is the Debtor's counsel.
AAGS HOLDINGS: Has $30M Exit Financing; Unsecureds Unimpaired
-------------------------------------------------------------
AAGS Holdings LLC has filed its Plan of Reorganization dated Oct.
11, 2019.
The Disclosure Statement for Plan of Reorganization has been
preliminarily approved by the Bankruptcy Court as containing
adequate information pursuant to Section 1125 of title 11 of the
United States Code.
AAGS is a a limited liability company currently under contract to
purchase the real property located at 23-10 Queens Plaza South,
Queens, New York. The property is currently owned by QPS 23-10
Development LLC ("Seller"). The Debtor and Seller entered into an
Agreement of Purchase and Sale dated July 17, 2019 (the "APS") to
sell the Property to the Debtor for a purchase price of
$27,500,000, with closing scheduled for Sept. 20, 2019. The
Debtor's emergency filing was precipitated by the Debtor's need for
additional time to consummate the APS with the Seller and to avoid
losing its rights under the APS and its $100,000 deposit.
According to the Disclosure Statement, the Plan provides for (a)
approval of the Exit Financing in an amount up to $30,000,000,
which will sufficient to fund all payments under the Plan,
including funding the Purchase Price and (b) the immediate
assumption of the APS under the Plan and Closing on the sale
pursuant to the terms of the Plan upon the occurrence of the
Effective Date.
General unsecured creditors, with a total claim of $1,193,861.36,
are unimpaired. Each holder of an allowed general unsecured claim
will receive, in full and final satisfaction of such claim, cash
equal to the allowed amount of such Claim plus accrued
post-petition interest at the Federal Judgment Rate on the
Effective Date.
A full-text copy of the Disclosure Statement dated Oct. 11, 2019,
is available at https://tinyurl.com/y4qkc2v6 from PacerMonitor.com
at no charge.
AAGS Holdings LLC sought Chapter 11 protection (Bankr. S.D.N.Y.
Case No. 19-13029) on Sept. 20, 2019. ROBINSON BROG LEINWAND
GREENE GENOVESE & GLUCK P.C. is the Debtor's counsel.
ALTA MESA: Jan. 8, 2019 Auction of Substantially All Assets Set
---------------------------------------------------------------
Judge Marvin Isgur of the U.S. Bankruptcy Court for the Southern
District of Texas authorized the bidding procedures of Alta Mesa
Resources, Inc. and affiliates in connection with the auction sale
of substantially all or any portion or combination of their assets
through one or more sales of their Assets and/or a combined sale of
both the Debtor Assets and the Non-Debtor Assets.
The Debtors are authorized to take any and all actions reasonably
necessary or appropriate to implement the Bidding Procedures in
accordance with the following timeline;:
a. Oct. 18, 2019 at 5:00 p.m. (CT) - Deadline for Indications
of Interest
b. Nov. 8, 2019 at 5:00 p.m. (CT) - Assumption Notice Deadline
c. Dec. 2, 2019 at 5:00 p.m. (CT) - Deadline for Debtors to
Identify Stalking Horse Bidder (if any) and seek Court approval of
Bid Protections (if any)
d. Dec. 18, 2019 at 5:00 p.m. (CT) - Bid Deadline
e. Dec. 19, 2019 at 5:00 p.m. (CT) - Deadline to File Proposed
Sale Order
f. Dec. 30, 2019 at 5:00 p.m. (CT) - Sale Objection Deadline
and Contract Objection Deadline (other than any objection based on
the manner in which the Auction was conducted and the identity of
the Successful Bidder or Backup Bidder)
g. Jan. 8, 2020 at 9:00 a.m. (CT) - The Auction will take
place at the offices of the counsel for the Debtors, Latham &
Watkins LLP, 811 Main Street, Suite 3700, Houston, TX 77002 or at
such other place and time as the Debtors will notify all Qualified
Bidders, the Consultation Parties and all other parties entitled to
attend the Auction.
h. Jan. 8, 2020 - Reply Deadline
i. 2 hours prior to the commencement of the Sale Hearing -
Deadline for objections based on the manner in which the Auction
was conducted and the identity of the Successful Bidder or Backup
Bidder
j. Jan. 10, 2020 at 9:00 a.m. (CT) - Sale Hearing
Other salient terms of the Bidding Procedures are:
i. Qualified Bid: The initial Overbid, if any, will provide
for total consideration to the Debtors and, if the Overbid includes
Non-Debtor Assets, the non-Debtor owners of such assets, of an
aggregate value that exceeds the value of the consideration under
the Starting Bid by an incremental amount that is not less than the
sum of (i) $2.5 million, plus (ii) in the event that the Debtors
have entered into a Stalking Horse Agreement with respect to the
Assets to which the Overbid relates, the aggregate amount of Bid
Protections (including, for the avoidance of doubt, any break-up
fees and/or expense reimbursements) under such Stalking Horse
Agreement, and each successive Overbid will exceed the
then-existing Overbid by an incremental amount that is not less
than the Minimum Overbid Increment.
ii. Good Faith Deposit: 10% of the purchase price
iii. Notwithstanding anything else contained in the Bidding
Procedures, the lender under the secured revolving credit facility
with Wells Fargo Bank, National Association, as administrative
agent thereunder will have the right to credit bid all or any
portion of their allowed secured claims in any bulk or piecemeal
sale of the Assets constituting the collateral of the RBL Lenders
under the secured revolving credit facility at the Auction to the
extent provided in Bankruptcy Code section 363(k) or other
applicable law, in accordance with the applicable provisions of the
documents governing such debt obligations.
iv. Bid Increments: $2.5 million. The Debtors reserve the
right, in consultation with the Bid Consultation Parties, to
announce reductions or increases in the Minimum Overbid Increment
at any time during the Auction.
v. Any of the Debtor Assets sold pursuant to the Bidding
Procedures will be sold free and Clear of all Interests other than
any Assumed Liabilities and conveyed at Closing in their
then-present condition, "as is, where is, with all faults, and
without any warranty whatsoever, express or implied," except to the
extent set forth in the definitive agreement for the Successful
Bid, if Applicable, and as approved by the Court.
The Debtors reserve the right, and are authorized to, modify the
above timeline and the Bidding Procedures in accordance with the
Bidding Procedures. The Debtors are authorized to conduct the
Auction in accordance with the Bidding Procedures and the Order.
The Debtors are authorized to enter into a Stalking Horse
Agreement, which may provide for payment of break-up fees and/or
expense reimbursements, as set forth in the Bidding Procedures,
subject to entry of an order approving the selection of the
Stalking Horse Bidder and any applicable Bid Protections. To the
extent necessary, the Debtors' right to seek the Court's approval
of one or more Stalking Horse Bidders, with notice and a hearing,
is preserved.
In the event that the Debtors select one or more parties to serve
as a Stalking Horse Bidder, upon such selection, the Debtors will
file with the Court and provide, to all parties on the Rule 2002
List, counsel to the Ad Hoc Noteholder Group, counsel to the AMH
Agent, and all parties then known to have expressed an interest in
the Debtor Assets or the Assets as part of the marketing process
established by the Bidding Procedures, and all parties holding
liens on such
Debtor Assets, five business days' notice of and an opportunity to
object to the designation of such Stalking Horse Bidder and the Bid
Protections set forth in the Stalking Horse Agreement and absent
objection, the Debtors may submit an order to the Court under
certification of counsel approving the selection of such Stalking
Horse Bidder and the Bid Protections.
The form of Sale Notice is approved. Within five business days
after the entry of the Order, the Debtors will serve the Sale
Notice and the Order, including the Bidding Procedures, upon all
Sale Notice Parties.
The form of Post-Auction Notice is approved. Within two days after
the conclusion of the Auction, if any, the Debtors will file the
Post-Auction Notice.
The Assumption and Assignment Procedures and the Assumption Notice
are approved. On Nov. 8, 2019, the Assumption Notice Deadline, the
Debtors will file with the Court, and post on the case website at
https://cases.primeclerk.com/altamesa, the Assumption Notice and
Designated Contracts List. The Contract Objection Deadline is 5:00
p.m. (CT) on Dec. 30, 2019.
As soon as practicable after the Auction and in no event less than
one business day before the date of the Sale Hearing, the Debtors
will file with the Court and serve on the counterparties the
Post-Auction Notice.
Notwithstanding Bankruptcy Rules 6004(h), 6006(d), 7062, 9014, or
otherwise, the Court, for good cause shown, orders that the terms
and conditions of this Order will be immediately effective and
enforceable upon its entry.
A copy of the Bidding Procedures attached to the Order is available
for free at:
http://bankrupt.com/misc/Alta_Mesa_317_Order.pdf
About Alta Mesa Resources
Alta Mesa Resources, Inc., is an independent energy company focused
on the development and acquisition of unconventional oil and
natural gas reserves in the Anadarko Basin in Oklahoma, and through
Kingfisher Midstream, LLC, provides best-in-class midstream energy
services, including crude oil and gas gathering, processing and
marketing and produced water disposal to producers in the STACK
play.
Alta Mesa reported $1.4 billion in assets and $864 million in
liabilities as of Dec. 31, 2018.
Alta Mesa and six affiliates sought Chapter 11 protection (Bankr.
S.D. Tex. Case No. 19-35133) on Sept. 11, 2019.
The Hon. Marvin Isgur is the case judge.
The Debtors tapped Porter Hedges LLP and Latham & Watkins LLP as
attorneys; and Perella Weinberg Partners LP and its affiliate Tudor
Pickering Holt & Co Advisors LP as investment banker. Prime Clerk
LLC is the claims agent.
AMERICA-CV STATION: Exclusivity Period Extended Until Dec. 10
-------------------------------------------------------------
Judge Jay Cristol the U.S. Bankruptcy Court for the Southern
District of Florida extended the period during which only
America-CV Station Group, Inc. and its affiliates can file a
Chapter 11 plan to Dec. 10.
The companies can solicit acceptances for the plan until Feb. 6.
About America-CV Station and Affiliates
America-CV Station and Caribevision Holdings are privately held
companies primarily in the television station ownership and program
production business. America-CV Network, LLC provides broadcasting
services.
America-CV Station Group, Inc. and Caribevision Holdings, Inc.
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
S.D. Fla. Case Nos. 19-16355 and 19-16359) on May 14, 2019.
America-CV Network, LLC and Caribevision TV Network, LLC also
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
S.D. Fla. Case Nos. 19-16976 and 19-16977) on May 28, 2019. The
petitions were signed by Carlos Vasallo, authorized
representative.
At the time of the filing, each of the Debtors disclosed assets
ranging between $10 million to $50 million and liabilities ranging
between $1 million to $10 million.
The petitions were signed by Carlos Vasallo, authorized
representative. At the time of the filing, the Debtor disclosed
assets ranging between $10 million to $50 million and liabilities
ranging between $1 million to $10 million.
The Hon. Jay A. Cristol is the case judge.
The Debtors tapped Genovese Joblove & Battista, P.A. as its
bankruptcy counsel, and Fletcher, Heald & Hildreth, P.L.C. as
Genovese's co-counsel.
APEX TOOL: S&P Affirms 'B-' ICR on Equity Add-In, Outlook Stable
----------------------------------------------------------------
S&P Global Ratings affirmed the 'B-' issuer credit rating and
issue-level rating on Apex Tool Group LLC's senior secured term
credit facilities, as well as the 'CCC+' issue-level rating on the
company's senior unsecured notes. The recovery ratings of '3' and
'5', respectively, remain unchanged.
Meanwhile, S&P revised the liquidity assessment to adequate from
less than adequate after Apex, which received $80 million in equity
from its private equity owner Bain Capital, reset its debt leverage
covenant to provide sufficient cushion over the next 12 months.
"The 'B-' rating affirmation and revised liquidity assessment
reflects our view that $80 million equity infusion by the sponsors,
maturity extension of three years, and covenant reset to 5.25x has
provided sufficient liquidity cushion to avoid a covenant breach
over the next 12 months," S&P said.
The stable rating outlook on Apex reflects elevated debt leverage
exceeding 8x over the next 12 months, but with sufficient interest
coverage and cash flow to meet its obligations. S&P expects to see
higher volumes and prices in 2020, which should result in some
year-over-year EBITDA growth. However, in the near term S&P can
continue to expect that cost inflation and potentially higher
tariffs will pose challenges.
"We could lower the rating within the next 12 months if U.S.
commercial construction declined or input costs increased due to
tariff impact, resulting in EBITDA so low that debt leverage would
exceed 10x and EBITDA interest coverage moves closer to 1x. Under
our assumptions, this would require a decline in its EBITDA margin
of over 200 basis points (bps)," S&P said, adding that it could
also lower the rating if the company's liquidity greatly
deteriorated or it breached its credit agreement covenants, losing
access to its credit lines.
"We could raise the rating within the next 12 months if the company
can maintain adjusted leverage of much less than 8x and interest
coverage of more than 2x on a sustained basis. We would need to see
Apex improve margins by 200 bps, likely reflecting stronger market
conditions, successful price increases, and lower manufacturing,
freight, and tariff costs," S&P said.
APRO LLC: S&P Affirms 'B' Issuer Credit Rating on Refinancing
-------------------------------------------------------------
S&P Global Ratings affirmed its 'B' issuer credit rating on Apro
LLC (d/b/a United Pacific) and assigned its 'B' issue-level rating
and '3' recovery rating to the company's senior secured credit
facilities.
The rating actions follow Apro's proposal to refinance its capital
structure in connection with changes in ownership and its fuel
consignment agreement. A diversified energy company is acquiring a
50% voting interest in Apro through a joint venture with existing
financial sponsor Fortress Investment Group, and has also
renegotiated its fuel consignment agreement with United Pacific.
"The affirmation reflects our view that higher earnings from the
renegotiated fuel consignment agreement will partially offset
higher post-refinancing debt balances. United Pacific plans to
issue a $50 million revolving credit facility, $350 million term
loan, and a $100 million delayed-draw term loan to repay existing
debt, fund a dividend, and satisfy other cash flow needs. Proceeds
from the delayed-draw term loan will be available to finance future
acquisitions," S&P said.
The stable outlook reflects S&P's expectation that the company will
generate steady cash flow, maintain adequate liquidity, and keep
adjusted leverage in the mid-6x area over the next 12 months.
"We could lower our rating on Apro if adjusted debt to EBITDA
exceeds 7.5x or interest coverage declines to less than 1.5x. This
could occur if operating performance weakens, possibly due to
heightened competition, a sustained period of sharply rising fuel
prices, or material changes to its fuel consignment agreement," S&P
said.
"We could raise the rating if Apro can diversify its sales mix to
include a higher contribution of inside sales while expanding its
scale and broadening its currently concentrated geographic
footprint. In addition, the company would need to pursue a more
prudent financial policy, including reducing adjusted leverage to
less than 6x," S&P said.
AVIANCA HOLDINGS: Carried More Than 2.4M Passengers in September
----------------------------------------------------------------
In September, the subsidiary companies of Avianca Holdings S.A.
transported 2,470,119 passengers, a 2.1% decrease compared to
September 2018. Capacity, measured in ASKs (available seat
kilometers), increased 0.6%, while passenger traffic, measured in
RPKs (revenue passenger kilometers), increased 0.8%. The load
factor for the month was 82.6%, an increase of 18 bps compared to
the same period of 2018.
Domestic markets in Colombia, Peru and Ecuador
In September, the subsidiary airlines of Avianca Holdings
transported within each of these markets a total of 1,428,996
travelers, down 2.0% when compared to the same period of 2018.
Capacity (ASKs) decreased 5.9% while passenger traffic (RPKs)
decreased 6.9%. The load factor for the month was 81.3%, a
decrease of 84 bps when compared to the same month of 2018.
International markets
In September, the affiliated airlines of Avianca Holdings
transported 1,041,123 passengers on international routes, down 2.3%
when compared to the same period of 2018. Capacity (ASKs)
increased 2.0%, while passenger traffic (RPKs) increased 2.5%. The
load factor for the month was 82.9%, an increase of 39 bps when
compared to September 2018.
About Avianca Holdings S.A.
Avianca Holdings SA -- http://www.avianca.com/-- is a Panama-based
company engaged, through its subsidiaries, in the provision of air
transportation services for passengers and commercial purposes.
Avianca comprises the airlines: Aerovias del Continente Americano
S.A. Avianca (Avianca), Tampa Cargo S.A.S., incorporated in
Colombia, Aerolineas Galapagos S.A. - Aerogal, incorporated in
Ecuador, and the TACA Group companies: TACA International Airlines
S.A., incorporated in El Salvador, Lineas Aereas Costarricenses
S.A., LACSA, incorporated in Costa Rica, Trans American Airlines
S.A., incorporated in Peru, Servicios Aereos Nacionales S.A.,
SANSA, incorporated in Costa Rica, Aerotaxis La Costena S.A.,
incorporated in Nicaragua, Islena de Inversiones S.A. de C.V.,
ISLENA, incorporated in Honduras and Aviateca S.A., incorporated in
Guatemala.
KPMG S.A.S., in Bogota, Colombia, the Company's auditor since 2018,
issued a "going concern" qualification in its report dated April
26, 2019, on the Company's consolidated financial statements for
the year ended Dec. 31, 2018, citing that the controlling
shareholder of the Company obtained a loan and pledged its shares
in Avianca Holdings S.A. as security for this loan agreement (the
loan agreement), which requires compliance with certain covenants
by the controlling shareholder, including compliance with the
Company financial ratios. Breach of these covenants provides the
lender the right to enforce the security, leading to a change of
control over the Company. A change of control over the Company
would breach covenants included in some loan and financing,
aircraft rental, and other agreements of the Company, which in turn
could trigger early termination or cancelation of these contracts.
On April 10, 2019, the Company was informed by the controlling
shareholder and its lender, that there was a non-compliance with
covenants established in the controlling shareholder's loan
agreement, and no waiver was in place; thus, there is a potential
risk of change of control. The auditors said this circumstance
raises a substantial doubt about the Company's ability to continue
as a going concern.
As of Dec. 31, 2018, Avianca Holdings had US$7.11 billion in total
assets, US$6.12 billion in total liabilities, and US$992.46 million
in total equity.
* * *
As reported by the TCR on July 25, 2019, S&P Global Ratings lowered
its issuer credit rating on Colombia-based airline operator Avianca
Holdings S.A. to 'SD' from 'CCC+' and kept the 'CCC' issue-level
ratings on CreditWatch with negative implications. The downgrade
follows Avianca's announcement that it missed the payments on
several long-term leases and on the principal on some loan
obligations, which constitutes an event of default.
AYTU BIOSCIENCE: Armistice Capital Has 40% Stake as of Oct. 16
--------------------------------------------------------------
In a Schedule 13D/A filed with the Securities and Exchange
Commission, Armistice Capital, LLC, Armistice Capital Master Fund
Ltd., and Steven Boyd reported that they beneficially own 8,380,064
shares of common stock of Aytu Bioscience, Inc., which constitutes
40% of the Shares, based upon 20,948,071 Shares outstanding as of
Oct. 16, 2019, as adjusted for warrants and convertible preferred
stock beneficially owned by the Reporting Persons.
Armistice Capital is an investment adviser registered with the SEC
that is principally engaged in the business of providing investment
management services to private investment vehicles, including the
Master Fund. The Master Fund is principally engaged in the
business of investing in securities. Steven Boyd is the managing
member of Armistice Capital and a director of the Master Fund.
On Oct. 11, 2019, Aytu Bioscience and the Master Fund entered in to
a securities purchase agreement pursuant to which the Master Fund
acquired from the Issuer in a private placement: (i) 5,000 shares
of the Issuer's Series F Convertible Preferred Stock; and (ii)
5,000,000 Common Stock Purchase Warrants. The aggregate
subscription amount paid by the Master Fund for the Series F
Convertible Preferred Stock and Warrants acquired by it pursuant to
the Securities Purchase Agreement was $5,000,000.
A full-text copy of the regulatory filing is available for free
at:
https://is.gd/sHWTan
About Aytu BioScience
Englewood, Colorado-based Aytu BioScience, Inc. (OTCMKTS:AYTU) --
http://www.aytubio.com/-- is a commercial-stage specialty
pharmaceutical company focused on global commercialization of novel
products addressing significant medical needs. The company
currently markets Natesto, the only FDA-approved nasal formulation
of testosterone for men with hypogonadism, ZolpiMist, an
FDA-approved, commercial-stage prescription sleep aid indicated for
the short-term treatment of insomnia characterized by difficulties
with sleep initiation, and recently acquired Tuzistra XR, the only
FDA-approved 12-hour codeine-based antitussive oral suspension.
Additionally, Aytu is developing MiOXSYS, a novel, rapid semen
analysis system with the potential to become a standard of care for
the diagnosis and management of male infertility caused by
oxidative stress. MiOXSYS is commercialized outside of the U.S.
where it is a CE Marked, Health Canada cleared, Australian TGA
approved, Mexican COFEPRAS approved product, and Aytu is planning
U.S.-based clinical trials in pursuit of 510k de novo medical
device clearance by the FDA. Aytu's strategy is to continue
building its portfolio of revenue-generating products, leveraging
its focused commercial team and expertise to build leading brands
within large, growing markets.
Aytu Bioscience reported a net loss of $27.13 million for the year
ended June 30, 2019, compared to a net loss of $10.18 million for
the year ended June 30, 2018. As of June 30, 2019, Aytu Bioscience
had $34.72 million in total assets, $27.63 million in total
liabilities, and $7.08 million in total stockholders' equity.
Plante & Moran, PLLC, in Denver, CO, the Company's auditor since
2015, issued a "going concern" qualification in its report dated
Sept. 26, 2019, the Company's consolidated financial statements for
the year ended June 30, 2019, citing that the Company has suffered
recurring losses from operations and has an accumulated deficit
that raise substantial doubt about its ability to continue as a
going concern.
BARLEY FORGE: Granted Interim Cash Collateral Access Thru Nov. 6
----------------------------------------------------------------
The Bankruptcy Court for the Central District of California
authorized Barley Forge Brewing Company, LLC, to use cash
collateral on an interim basis through Nov. 6, 2019 pursuant to a
budget.
The Court will convene a final hearing on the motion on Nov. 6,
2019 at 10 a.m. Objections must be filed by Oct. 23, 2019.
About Barley Forge Brewing Company
Barley Forge Brewing Company, LLC, a privately held company in the
beverage manufacturing business, sought Chapter 11 protection
(Bankr. C.D. Cal. Case No. 19-13920) on Oct. 6, 2019 in Santa Ana,
California. In the petition signed by CRO Joshua Teeple, the
Debtor was estimated to have assets of between $500,000 and $1
million, and liabilities of between $1 million and $10 million.
Judge Theodor Albert oversees the case. ARENT FOX, LLP, is the
Debtor's counsel.
BNG FITNESS: Hearing on $9K Sale of 2005 Honda VTX Abated
---------------------------------------------------------
Judge Michael G. Williamson of the U.S. Bankruptcy Court for the
Middle District of Florida abated the consideration of BNG Fitness,
LLC's sale of the 2005 Honda VTX 1800 Motorcycle, VIN
1HFSC46D55A303204, to an unrelated third party for $9,000, cash.
The Court determines that the prescribed filing fee in the amount
of $181 was not paid as required by the Bankruptcy Court Schedule
under 28 U.S.C. Section 1930. Consideration of the motion is
abated until the deficiency is corrected. No additional filing fee
will be assessed for the filing of any amended motion filed for the
purposes of correcting the noted deficiency.
The Clerk's Office is directed to serve a copy of the Order on
interested parties.
BNG Fitness, LLC sought chapter 11 protection (Bankr. M.D. Fla.
Case No. 19-05123) on May 30, 2019. The Debtor tapped David W.
Steen, Esq., at David W Steen, P.A. as counsel.
BOSTON DONUTS: Seeks Permission to Use Cash Collateral
------------------------------------------------------
Boston Donuts, Inc., asks the Bankruptcy Court for the District of
Massachusetts to authorize use of cash collateral in order to fund
on-going business operations.
The Debtor needs the cash collateral to pay payroll, insurance, and
supplies. The Debtor avers that it is in the best interests of all
parties that it be granted authority to use cash collateral in the
ordinary course of business.
Hometown Bank; Quickstone Capital; and the Massachusetts Department
of Revenue may have interest in the cash collateral.
About Boston Donuts Inc.
Boston Donuts, Inc., generates revenues by manufacturing and
selling donuts. The Company sought Chapter 11 protection (Bankr.
D. Mass. Case No. 19-41141) on July 11, 2019. James P. Ehrhard,
Esq., at Ehrhard & Associates, P.C., represents the Debtor.
BROOKVIEW TOWN: Case Summary & Largest Unsecured Creditors
----------------------------------------------------------
Two affiliates that concurrently filed voluntary petitions for
relief under Chapter 11 of the Bankruptcy Code:
Debtor Case No.
------ --------
Brookview Town Houses LLC 19-61470
PO Box 121
Mountaindale, NY 12763
Robinhood Properties L.L.C. 19-61471
PO Box 121
Mountaindale, NY 12763
Business Description: Brookview Town Houses and Robinhood
Properties are lessors of real
estate based in New York.
Chapter 11 Petition Date: October 18, 2019
Court: United States Bankruptcy Court
Northern District of New York (Utica)
Debtors' Counsel: David C. Temes, Esq.
LYNN D'ELIA TEMES & STANCZYK
100 Madison Street
Tower I - Suite 1905
Syracuse, NY 13202
Tel: 315-476-1010
E-mail: david@ldts-law.com
Brookview Town Houses'
Estimated Assets: $100,000 to $500,000
Brookview Town Houses'
Estimated Liabilities: $1 million to $10 million
Robinhood Properties'
Estimated Assets: $100,000 to $500,000
Robinhood Properties'
Estimated Liabilities: $1 million to $10 million
The petitions were signed by David Raven, member.
A full-text copy of Brookview Town Houses' petition containing,
among other items, a list of the Debtor's four unsecured creditors
is available for free at:
http://bankrupt.com/misc/nynb19-61470.pdf
A full-text copy of Robinhood Properties' petition containing,
among other items, a list of the Debtor's two unsecured creditors
is available for free at:
http://bankrupt.com/misc/nynb19-61471.pdf
BUILDING BLOCKS OF MADISON: Taps Hood & Bolen as Legal Counsel
--------------------------------------------------------------
Building Blocks of Madison Crossing Daycare and Learning Center,
Inc., seeks approval from the U.S. Bankruptcy Court for the
Southern District of Mississippi to hire Hood & Bolen, PLLC as its
legal counsel.
The firm will advise the Debtor of its powers and duties under the
Bankruptcy Code and will provide other legal services in connection
with the Debtor's Chapter 11 case.
The firm's hourly rates are:
Partners $300
Associates $200
Senior Paralegals $125
Junior Paralegals $85
Hood & Bolen received a retainer of $17,500, which includes the
filing fee of $1,717.
The firm's attorneys do not represent any interest adverse to the
Debtor's bankruptcy estate, according to court filings.
Hood & Bolen can be reached through:
R. Michel Bolen , Esq.
Hood & Bolen, PLLC
3770 Highway 80 West
Jackson, MS 39209
Phone: (601)923-0788
Email: rmb@hoodbolen.com
About Building Blocks of Madison Crossing
Daycare and Learning Center
Building Blocks of Madison Crossing Daycare and Learning Center,
Inc. sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. S.D. Miss. Case No. 19-03562) on Oct. 7, 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 is assigned to
Judge Neil P. Olack. Hood & Bolen, PLLC is the Debtor's legal
counsel.
BUILDING BLOCKS: Asks Court to Permit Use of Cash Collateral
------------------------------------------------------------
Building Blocks of Madison Crossing Daycare and Learning Center,
Inc., seeks permission from the Bankruptcy Court to use cash
collateral to pay all necessary operating expenses of its business,
including employee salaries, food and supplies purchases for the
children, payment of utilities and the rent to Sturdivant Taylor,
LLC.
The Debtor also intends to use the cash collateral to pay creditor
BankPlus.
The exact amount of cash collateral cannot yet be determined, but
should be determined by the time of the final hearing, the Debtor
says.
About Building Blocks of Madison Crossing
Daycare and Learning Center
Building Blocks of Madison Crossing Daycare and Learning Center,
Inc., is in the business of operating a daycare and receives
payments weekly, twice a month or monthly from those utilizing it
facilities. It owns customary personal property used in operating
a daycare.
Building Blocks of Madison Crossing Daycare and Learning Center
sought Chapter 11 protection (Bankr. S.D. Miss. Case No. 19-03562)
on Oct. 7, 2019. Hood & Bolen, PLLC, is the Debtor's counsel.
CANDLEWOOD ESTATES: To Present Plan for Confirmation on Nov. 13
---------------------------------------------------------------
The disclosure statement in support of Candlewood Estates of
Jeanerette Phase II, LP,'s Chapter 11 plan has been conditionally
approved.
Judge John W. Kolwe granted conditional approval of the Disclosure
Statement and ordered that:
* Nov. 13, 2019 at 10:00 a.m. at 800 Lafayette Street, 3rd Floor,
Courtroom Five, Lafayette, Louisiana is fixed for the hearing on
final approval of the disclosure (if a written objection has been
timely filed) and for the hearing on confirmation of the plan.
* Nov. 6, 2019 is fixed as the last day for filing and serving
written objections to the disclosure statement and confirmation of
the plan.
Candlewood Estates of Jeanerette Phase II, LP, filed a disclosure
statement under chapter 11 of the Bankruptcy Code on Oct. 7, 2019.
As reported in the TCR, Candlewood Estates of Jeanerette Phase II
LP, owner of the Candlewood project in Iberia Parish, Louisiana,
filed a Plan of Reorganization and Disclosure Statement on Oct. 7,
2019.
The Debtor intends to sell the Project to the Louisiana Housing
Corporation. The LHC and Debtor representatives have been is very
fruitful discussions concerning the purchase of the Candlewood
project by LHC for $499,000. The funds paid by LHC to the Debtor
will be paid to lender HOPE Federal Credit Union. Each allowed
general unsecured claim will receive its pro rata share of $10,000
which sum is being contributed by Dale Lancaster or his designee
and constitutes "new value".
A full-text copy of the Combination Disclosure Statement dated Oct.
7, 2019, is available at https://tinyurl.com/yxk734pa from
PacerMonitor.com at no charge.
About Candlewood Estates
Candlewood Estates of Jeanerette Phase II LP was created to develop
immovable property located in Iberia Parish, Louisiana, and operate
it as a low-income housing development. Hope Federal Credit Union
holds a first mortgage on the Property. The general partner is
Candlewood Management Phase II, LLC. The limited partner is Dale
Lancaster.
HOPE Federal Credit Union ("CU") commenced foreclosure proceedings
against the Debtor. During the foreclosure, The Cartesian
Company, Inc., was appointed keeper by the state court.
Candlewood Estates of Jeanerette Phase II LP filed its voluntary
petition for relief pursuant to Chapter 11 of the Bankruptcy Code
(Bankr. W.D. La. Case No. 19-50821) on July 9, 2019. H. Kent
Aguillard, in Eunice, Louisiana, and Steven T. Ramos, Lafayette,
Louisiana, serve as counsel to the Debtor.
CATHERINE COURTS: Case Summary & 11 Unsecured Creditors
-------------------------------------------------------
Two affiliates that concurrently filed voluntary petitions for
relief under Chapter 11 of the Bankruptcy Code:
Debtor Case No.
------ --------
Catherine Courts Condominium, LLC 19-29822
6400 N. Northwest Highway, Suite 4
Chicago, IL 60631
Catherine Courts Management, Inc. 19-29823
6400 N. Northwest Highway, Suite 4
Chicago, IL 60631
Business Description: The Debtors are privately held companies
whose principal assets are located at 8503
W. Catherine Ave. Chicago, IL 60656.
Chapter 11 Petition Date: October 20, 2019
Court: United States Bankruptcy Court
Northern District of Illinois (Eastern Division)
Judge: Hon. Timothy A. Barnes
Debtors' Counsel: Amrit S. Kapai, Esq.
GOLDSTEIN & MCCLINTOCK LLLP
111 W. Washington St., Ste 1221
Chicago, IL 60602
Tel: (312) 337-7700
Fax: (312) 277-2305
E-mail: amritk@goldmclaw.com
Catherine Courts Condominium's
Estimated Assets: $10 million to $50 million
Catherine Courts Condominium's
Estimated Debts: $10 million to $50 million
Catherine Courts Management's
Estimated Assets: $0 to $50,000
Catherine Courts Management's
Estimated Liabilities: $0 to $50,000
The petitions were signed by Guido C. Neri, member and authorized
representative.
Full-text copies of the petitions are available for free at:
http://bankrupt.com/misc/ilnb19-29822.pdf
http://bankrupt.com/misc/ilnb19-29823.pdf
A. List of Catherine Courts Condominium's 11 Unsecured Creditors:
Entity Nature of Claim Claim Amount
------ --------------- ------------
1. Aerex Pest Control Professional $390
4301 E Wilmette Ave Services
Rolling Meadows, IL 60008
2. Beezee Plumbing Professional $477
1228 Allanson Rd Services
Mundelein, IL 60060
3. CDS Leasing Copier Lease $44
19 Gloria Lane
Fairfield, NJ 07004
4. Chase Card Services Credit Card Debt $2,676
P.O. Box 15298
Wilmington, DE 19850
5. ComEd Utility $297
P.O. Box 805379
Chicago, IL 60680
6. D&J Accounting & Professional $3,000
Tax Services Services
4950 N Harlem Ave # A
Harwood Heights, IL 60706
7. Home Depot Credit Card Debt $381
2455 Paces Ferry, Rd. NW
Atlanta, GA 30339
8. Pressure Pro Professional $180
7300 Commercial Cir Services
Fort Pierce, FL 34951
9. Screening Reports Inc. $108
220 Gerry Dr # 100
Wood Dale, IL 60191
10. Super Steam Carpets Professional $620
8412 Wilmette Ave A Services
Darien, IL 60561
11. Catherine Courts Association Fees Unknown
Condominium
Association of Chicago
8503 West Catherine Avenue
Chicago, IL 60656
B. List of Catherine Courts Management's 20 Largest Unsecured
Creditors:
Entity Nature of Claim Claim Amount
------ --------------- ------------
1. Catherine Courts Association Fees Unknown
Condominium Association
8503 West Catherine Avenue
Chicago, IL 60656
COHU INC: S&P Cuts ICR to 'B' on Weak Performance; Outlook Stable
-----------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on U.S.-based
semiconductor test and inspection equipment provider Cohu Inc. to
'B' from 'BB-' and its issue-level rating on its first-lien credit
facility to 'B' from 'BB-', reflecting the recent leverage
increases. S&P's '3' recovery rating is unchanged.
The downgrade reflects Cohu's very high leverage following a
significant decline in operating performance in fiscal 2018 and
year to date in fiscal 2019. Significant weakness in the
semiconductor industry (with sales declining in the mid-teen
percentages in the first half of 2019), particularly in Cohu's
mobility and automotive segments, depressed customer capital
spending and meaningful revenue at Cohu. It also eroded margins due
to the firm's considerable operating leverage.
The stable outlook reflects S&P's view that, while leverage will
remain elevated at approximately 7x at the end of fiscal year 2019,
Cohu will continue to execute on cost synergy targets expected from
the Xcerra acquisition, reducing leverage toward 5x at the end of
fiscal year 2020. The stable outlook also reflects S&P's view that
in a normalized industry environment, the company would perform
with a leverage between 4.5x and 5.5x. Additionally, despite the
inherent volatility of the semiconductor equipment sector, Cohu
will maintain adequate liquidity and at least mid-single–digit
percentage free cash flow (FOCF) to debt.
"We could lower the rating if operational missteps associated with
the integration of Xcerra or persistent decline in demand for semi
capital equipment further depresses cash flow and profitability
such that leverage does not improve over the coming year and is
sustained above 6x," S&P said.
"Although unlikely, we could raise the rating if Cohu significantly
expands its operating scale with greater diversification,
materially grows its revenues free cash flow while reducing
leverage approaching 3x," the rating agency said.
COPELAND & LANE: Wants to Continue Using Cash Collateral
--------------------------------------------------------
Copeland & Lane Investments LLP seeks authorization from the U.S.
Bankruptcy Court for the District of Connecticut to continue its
use of certain assets that may constitute cash collateral which
essentially includes rental income.
The Debtor intends to use the cash collateral to pay for
distribution, to purchase supplies, to pay service providers, to
pay administrative expenses incurred by the Debtor's Bankruptcy
Estate, and to pay other ongoing usual and necessary expenses
incurred in the day-to-day operation of operating real estate.
As of the petition date the largest secured creditor is Rosenblit
Enterprises LLC who holds a secured claim under a mortgage deed. A
significant issue of the mortgage deed, is that no interest
payments are commenced until the principal balance reaches
$350,000, currently the principal balance is over $500,000.
There is also a priority unsecured claim of approximately $7,800
held by the Metropolitan Water District.
The Debtor will grant Secured Creditors with a replacement lien in
all its postpetition property, of the same nature, to the same
extent, and with the same priority as their respective lien
existing as of the Petition Date. In addition, the Debtor proposes
to make a monthly interest payment to Rosenblit.
A copy of the Cash Collateral Motion is available for free at
https://ecf.ctb.uscourts.gov/doc1/040113287693
About Copeland & Lane Investments
Copeland & Lane Investments LLP operates two real estate properties
for rent in Hartford, Connecticut. The Debtor filed a Chapter 11
bankruptcy petition (Bankr. D. Conn. Case No. 21628) in Hartford,
Connecticut, on Sept. 20, 2019. In the petition signed by one of
its partners, Michael Copeland, the Debtor disclosed assets of
between $100,001 and $500,000 and liabilities of the same range.
The LAW OFFICE OF ZAID HASSAN LLC is counsel to the Debtor.
DAVID A. FLOYD: $1.4M Sale of Brewton Carwash to Eco Car Approved
-----------------------------------------------------------------
Judge William R. Sawyer of the U.S. Bankruptcy Court for the Middle
District of Alabama authorized the private sale by David A. Floyd
and Deborah Faye Floyd of their fee simple interest in a parcel of
commercial real property, located in Brewton, Escambia County,
Alabama, more specifically described as Parcel number
30-15-05-16-2-006-011.008 located at 2140 Douglas Avenue, Brewton,
Alabama, along with attached structures, fixtures and equipment all
consisting of a commercial carwash facility, to Eco Car Wash, LLC
for $1.4 million.
The sale is free and clear of encumbrances.
The proceeds, in the amount of $1.4 million are to be paid to the
Bank of Brewton to be applied against proof of claim number 15;
however, the Bank of Brewton has/will consent to $14,000.00 being
escrowed for payment of applicable bankruptcy administration fees.
David A. Floyd and Deborah Faye Floyd sought Chapter 11 protection
(Bankr. M.D. Ala. Case No. 19-10726) on April 30, 2019. The
Debtors tapped J. Kaz Espy, Esq., at Espy, Metcalf & Espy, P.C., as
counsel.
DESTINATION MATERNITY: Case Summary & 30 Top Unsecured Creditors
----------------------------------------------------------------
Lead Debtor: Destination Maternity Corporation
f/k/a Cave Springs, Inc.
f/k/a 21 Episode USA, Inc.
f/k/a A Pea in the Pod, Inc.
f/k/a Mothers Work, Inc.
f/k/a Motherhood Maternity, Inc.
f/k/a Page Boy Co.
f/k/a Motherhood Maternity Shops, Inc.
232 Strawbridge Drive
Moorestown, NJ 08057
Business Description: Destination Maternity --
https://www.destinationmaternity.com -- is a
Moorestown, New Jersey-based designer and
omni-channel retailer of maternity apparel.
Currently, the Debtors operate 436 stores
across 49 of the 50 states, Canada, and
Puerto Rico. The Debtors operate stores
under three retail nameplates: Motherhood
Maternity, A Pea in the Pod, and Destination
Maternity.
Chapter 11 Petition Date: October 21, 2019
Court: United States Bankruptcy Court
District of Delaware (Delaware)
Three affiliates that concurrently filed voluntary petitions for
relief under Chapter 11 of the Bankruptcy Code:
Debtor Case No.
------ --------
Destination Maternity Corporation (Lead Case) 19-12256
DM Urban Renewal, LLC 19-12257
Mothers Work Canada, Inc. 19-12258
Judge: Hon. Brendan Linehan Shannon
Debtors' Local
Bankruptcy
Counsel: Adam G. Landis, Esq.
Kerri K. Mumford, Esq.
Jennifer L. Cree, Esq.
LANDIS RATH & COBB LLP
919 North Market Street, Suite 1800
Wilmington, Delaware 19801
Tel: (302) 467-4400
Fax: (302) 467-4450
E-mail: landis@lrclaw.com
mumford@lrclaw.com
cree@lrclaw.com
Debtors'
General
Bankruptcy
Counsel: Christopher T. Greco, P.C.
KIRKLAND & ELLIS LLP
KIRKLAND & ELLIS INTERNATIONAL LLP
601 Lexington Avenue
New York, New York 10022
Tel: (212) 446-4800
Fax: (212) 446-4900
E-mail: christopher.greco@kirkland.com
Debtors'
Investment
Banker &
Financial
Advisor: GREENHILL & CO., INC.
Debtors'
Restructuring
Advisor: BERKELEY RESEARCH GROUP, LLC
Debtors' Tax
Restructuring
Advisor: KPMG LLP
Debtors'
Intellectual
Property
Advisor: HILCO STREAMBANK LLC
Debtors'
"Store
Closing"
Consultant: GORDON BROTHERS RETAIL PARTNERS, LLC
Debtors'
Claims/
Noticing
Agent: PRIME CLERK LLC
https://cases.primeclerk.com/DestinationMaternity
Total Assets as of October 5, 2019: $260,198,448
Total Debts as of October 5, 2019: $244,035,457
The petitions were signed by Dave Helkey, chief financial officer.
A full-text copy of Destination Maternity's petition is available
for free at:
http://bankrupt.com/misc/deb19-12256.pdf
Consolidated List of Debtors' 30 Largest Unsecured Creditors:
Entity Nature of Claim Claim Amount
------ --------------- ------------
1. Pan Pacific Co. Trade $3,827,090
Attn: General Counsel
12, Digital-ro 31-gil
Guro-gu
Guro-dong 197-21
South Korea
Tel: (822) 3494-9240
Fax: (822) 830-1011
Email: simonchong@pti-pacific.com
2. United States Customs Customs and Unliquidated
and Border Protection Duties
Attn: Mark A. Morgan
1300 Pennsylvania Ave. NW
Washington, DC 20229
Tel: (202) 344-1040
Email: hqiprbranch@dhs.gov
3. INT S.A. Trade $1,490,150
Attn: General Counsel
Edificio Tikal Futura,
Torre Luna Nivel
17 Calzeda Roosevelt 22-43, Zona 11
Guatemala City
Guatemala C.A.
Tel: (502) 2200-2500
Fax: (502) 2440-3879
Email: dykim@intsa.net
4. Wiseknit Factory Trade $1,132,813
Attn: General Counsel
7/F., Kwong Loong Tai
Industrial Building
1016-1018 Tai Nam Street West
Lai Chi Kok
Hong Kong
Tel: (852) 2785-0068
Fax: (852) 2785-0009
Email: victor@wiseknit.com
5. Shanghai Silk Group Co, Trade $1,124,844
Ltd. (Hood)
Attn: General Counsel
Room 302
283 Wu Xing Road
Shanghai 200030
China
Tel: (862) 1.6466.2288
Fax: (860) 21.6415.7516
Email: joeylou@shsilk.com.cn
6. United Parcel Service Trade $1,058,560
Attn: General Counsel
Hogye-dong, Dongan-gu
Anyang-si
Gyeonggi-do 14117 555-15
South Korea
Tel: 1588-6886
Fax: 02-2022-1150
7. Doolim Corporation/ Trade $975,164
Doolim Binh
Chanh Factory
Attn: General Counsel
Doolim Building, 47,
Seong Nae-ro 6-gil
Kang Dong-gu
Seoul, South Korea
Tel: (822) 2224-2000
Fax: (822) 478.8634
Email: danhuh@doolim.com
8. Simon Property Group Landlord $949,286
Attn: General Counsel
225 W Washington Street
Indianapolis, IN 46204-3438
Fax: (317) 263-2339
Email: jhermesch@simon.com
9. Smart Chain Enterprises Trade $874,564
Attn: General Counsel
9/F, Sing Shun Centre
495 Castle Peak Road
Cheung Sha Wan
Kowloon, Hong Kong
Tel: (852) 2327-6778
Fax: (852) 2320-8363
Email: banny.yu@hanbo.com
10. Seyfarth Shaw, LLP Professional Unliquidated
Attn: General Counsel Services
1075 Peachtree St, N.E.
Suite 2500
Atlanta, GA 30309
Tel: (404) 885-1500
Email: ahough@seyfarth.com
11. Brookfield Properties Landlord $657,963
Attn: General Counsel
250 Vesey Street, 15th Floor
New York, NY 10281
Tel: (212) 417-7000
Email: ladamczykandrea@brookfield
propertiesretail.com
12. Merkle, Inc. Trade $574,865
Attn: Kim Drinker
7001 Columbia Gateway Drive
Columbia , MD 21046
Tel: (443) 542-4016
Email: kdrinker@merkleinc.com
13. Union King Enterprises Trade $551,916
Attn: General Counsel
Flat / RM 201, 2/F Lee Wai
Commercial Building
1-3 Hart Avenue , Tsim Sha Tsui
Kowloon, Hong Kong
Tel: (852) 9555-9818
Email: ravindran.cs1@unionkingcorp.com
14. Cadwalader, Wickersham & Professional Unliquidated
Taft LLP Services
Attn: General Counsel
200 Liberty Street
New York, NY 10281
Tel: (212) 504-6009
Fax: (212) 504-6666
Email: andre.mentes@cwt.com
15. Asia Creative Limited/Dora Lau Trade $441,081
Attn: General Counsel
38/F, Office Tower,
Convention Plaza
1 Harbour Road
Wanchai, Hong Kong
Tel: (852) 2882-2411
Fax: (852)-2419-2628
Email: dora@doralinc.com
16. Furi Design Trade $411,771
Attn: General Counsel
Dongguzhan Village
Xiashuang Town
Chengyang District
Qingdao, China
Tel: (514) 908-7224
Fax: (514) 908-7225
EMAIL: steven@furidesign.com
17. Parasuco USA Trade $396,060
Attn: General Counsel
c/o Joe Barreca
530 Seventh Avenue, Suite 2705
New York, NY 10018
Tel: (514) 334-0888
Fax: (514) 334-9833
Email: jbarreca@parasuco.com
18. Google, LLC Trade Unliquidated
Attn: General Counsel
1600 Amphitheatre Parkway
Mountain View, CA 94043
Tel: (650) 253-0000
Fax: (650) 253-0001
Email: hkeklik@google.com
19. Boutique Global Trade $308,189
Attn: General Counsel
Plot No. 27, Mathura Road
Sector 27C Faridabad
Haryana 121003, India
Tel: 919810-358-181
Email: ajeet@boutique-glb.in
20. Amw Vietnam Company Ltd. Trade $289,656
Attn: General Counsel
B33/II & 34/II 2B ST Vinh LOC IP
Binh Tan Dist
Ho Chi Minh City
Vietnam
Tel: 8428-37653-264
Fax: 8428-37653-267
Email: stephen@tsfashionsvn.com
21. KSK Pvt Label Trade $265,673
Attn: General Counsel
Dongguzhan Village
Xiashuang Town
Chengyang District
Qingdao, China
Tel: (702) 751-0884
Fax: (702) 751-6787
Email: rick@articlesofsociety.com
22. Imagine! Print Solutions Trade $241,424
Attn: General Counsel
1000 Valley Park Drive
Minneapolis, MN 55379
Tel: (952) 903-4400
Email: info@imagineps.com
23. National Maintenance Trade $240,134
Services, Inc.
Attn: General Counsel
12 South Dixie Highway, Unit #3
Lake Worth, FL 33460
Fax: (561) 253-2419
Email: cfrantz@nationalmaintsvc.com
24. Haines-Center, Florence LLC Landlord $234,839
Attn: General Counsel
Whitesell Construction Co. Inc.
One Underwood Court, Suite 100
Delran, NJ 08075
Tel: (856) 764-2600
Fax: (856) 764-8963
25. Supplyone, Inc. Trade $231,375
Attn: General Counsel
11 Campus Blvd
Newton Square, PA 19073
Tel: (856) 625-0106
Email: nbrowne@supplyone.com
26. Cybersource Corporation Trade $227,066
Attn: General Counsel
901 Metro Center Blvd
Foster City, CA 94404
Tel: (650) 432-7350
Fax: (650) 286-6641
Email: njorgens@visa.com
27. Orient Craft Limited Trade $226,254
Attn: General Counsel
Plot No. 80P, Sector-34
Near Hero Honda Chowk
Gurgaon 122001, India
Tel: 0124-4511300
Fax: 0124-4511330
28. Everyday Health Media, Ll Trade $218,074
Attn: General Counsel
4 Marshall S.
North Adams, MA 01247
Tel: (413) 473-0038
Fax: (413) 346-6134
Email: jmoran@everydayhealthinc.com
29. Sodexo Inc. & Affiliates Trade $192,166
Attn: General Counsel
3847 Crum Rd.
Youngstown, OH 44515
Tel: (330) 470-2552
Fax: (330) 270-2552
Email: heather.latone@sodexo.com
30. Westfield Corporation Landlord $186,814
Attn: General Counsel
4905 Old Orchard Center, Suite 066
Skokie, IL 60077
Tel: (310) 575-5942
Email: patricia.ross@urw.com
DHX MEDIA: S&P Affirms 'B' Long-Term ICR on Expected Debt Reduction
-------------------------------------------------------------------
S&P Global Ratings affirmed its 'B' long-term issuer credit rating
on DHX Media Ltd. and its 'B' issue level rating on DHX Media's
senior secured debt. The '3' recovery rating on the debt is
unchanged, reflecting meaningful (50%-70%; rounded estimate: 65%)
recovery in the event of a default.
DHX's deleveraging strategy will hinge on the company's debt
reduction plan and cost savings over the next 12-24 months. The
affirmation reflects S&P's view that DHX's debt reduction of about
C$50 million from the equity proceeds (back-stopped by Fine Capital
Partners L.P.) will reduce leverage by about 0.5x. The company's
recent reorganization initiatives to streamline operations and
costs will reduce EBITDA by about C$10 million-C$12 million for
fiscal 2020 (excluding these one-time reorganization costs, S&P
expects the company's adjusted debt to EBITDA to be about 7.0x-7.5x
in fiscal 2020); however, the rating agency believes that the
benefits of the reorganization (about C$10 million in aggregate, $5
million net savings post-reinvestment in the business) will be
fully realized in fiscal 2021. As a result, S&P expects EBITDA to
be higher in fiscal 2021 compared with fiscal 2020 reflecting
reduced reorganization expenses, thereby supporting DHX's debt
repaying capacity with adjusted debt to EBITDA to drop below 7x..At
the same time, S&P expects the cost savings and debt reduction to
create sufficient balance-sheet capacity to accommodate the
execution risks surrounding the company's new strategy and DHX's
ability to secure sustained organic EBITDA growth. S&P's ratings
also incorporate its view of the company's ability to generate
modest FOCF of about C$20 million-C$25 million over the next 12
months, which DHX will use for further debt reduction.
"In our view, if the company is unable to execute its growth
initiatives over the next 12 months to drive topline and EBITDA
growth, we believe it will be challenged to improve credit
measures, and we view this as a credit negative," S&P said.
The stable outlook reflects S&P's view that DHX's expected debt
reduction and benefits of the reorganization initiative offset the
increasing pressure on EBITDA generation over the next 12 months.
S&P's ratings also incorporate its expectation that the company
will generate positive FOCF, which could be used for further debt
reduction, creating additional room to accommodate any operational
underperformance. Although leverage measures will be elevated at
about 8x over the next 12 months, the benefits of the restructuring
and further debt reduction could bring leverage measures below 7x
by first-half fiscal 2021, which is commensurate with the current
ratings.
"We could consider a downgrade in the next 12 months if adjusted
debt to EBITDA exceeds 8x and adjusted EBITDA interest coverage
falls below 2x as a result of weak operating performance from DHX's
production and distribution segments leading to declining EBITDA,"
the rating agency said. S&P said it could also lower the ratings
over the next 12 months if the company is unable to reduce debt
from its expected equity injection and cannot achieve slated cost
savings as per its reorganization plan, thereby creating limited
financial flexibility to accommodate any operational
underperformance and elevated levels of leverage.
"We do not expect to raise the ratings over the next 12 months
because the company's execution of its reorganization initiative
could pressure EBITDA generation. However, we could raise the
ratings over the next 12 months if adjusted debt to EBITDA falls
below 5x on a sustained basis," S&P said. Such a scenario could
occur if DHX is able to deliver its topline growth for its
production and distribution segments, which could spur higher
EBITDA generation than anticipated or if it performs a substantial
debt reduction, according to the rating agency.
DIONYMED BRANDS: Receives Default, BIA Notice from Glas USA
-----------------------------------------------------------
DionyMed Brands Inc. (DYME), a multi-state cannabis brands,
direct-to-consumer and distribution platform, on Oct. 17, 2019,
disclosed that GLAS USA LLC ("GLAS USA") , as administrative agent
and GLAS America LLC ("GLAS America") as collateral agent under the
Company's credit agreement dated January 16, 2019 (as amended,
supplemented or otherwise modified from time to time, the "Credit
Agreement"), provided the Company with notice of default under the
Credit Agreement and demand for immediate payment of the amount of
US$24,810,682.80 plus any additional interest, fees and expenses
()Demand Notice"). GLAS America also concurrently provided the
Company with a Notice of Intention to Enforce Security under
section 244 of the Bankruptcy and Insolvency Act (Canada) (the "BIA
Notice"). GLAS America will not have the right to enforce its
security over the Company and its assets until the expiry of the
10-day period after the BIA Notice was sent unless the Company
consents to an earlier enforcement.
The Company is reviewing and considering the Demand Notice and BIA
Notice and its options. It will continue to work co-operatively
with its major lender towards reaching a restructuring solution for
it to continue operating as a going concern for the benefit of its
stakeholders. At present, there can be no assurance as to what, if
any, alternatives might be pursued by the Company and there can be
no assurance that the Company will reach any solution with the
Company's lender, or as to the terms of any such solution, if
achieved. Holders of the Company's shares may face a loss of their
investment as a result of a failure to reach a solution with the
lender or as a result of a failure to reach a solution that
includes holders of shares.
About DionyMed
Founded in 2017, DionyMed (otcqb:DYMEF) is a multi-state cannabis
brands platform, supporting cultivators, manufacturers and
award-winning brands in the medical and adult-use cannabis markets.
DionyMed sells branded products in every category from flower to
concentrates and edibles. DionyMed serves cannabis consumers
through direct-to-consumer fulfillment and retail dispensary
distribution with its growing portfolio of award-winning brands.
ESCUE WOOD: Sales Procedures for Milan Property Approved
--------------------------------------------------------
Judge Jimmy L. Croom of the U.S. Bankruptcy Court for the Western
District of Tennessee authorized Escue Wood Treated Products, LLC's
sale of the real property located at 7095 Telecom Drive, Milan,
Tennessee, along with personal property related to the operations
of the Debtor.
The Debtor, in consultation with Touchmark National Bank, the First
Mortgage Lienholder, will ensure that the highest and best value is
received for the Sale Assets.
(a) Debtor and its agent, Tranzon Asset Advisors, shall
diligently market the Sale Assets to obtain the highest and best
value for the Sale Assets.
(b) The Agent shall have property information packages ("PIP")
developed and available for any potential bidder. Each item
included in the PIP shall be in the discretion of the Debtor and
the First Mortgage Lienholder. Any potential bidder may obtain a
PIP by downloading a PDF from the Agent's website: tranzon.com or
by contacting the following person at the Agent: Tim Mast, Tranzon
Asset Advisors, (731)610-5436 or tmast@tranzon.com. Each potential
bidder shall sign a digital or hardcopy confidentiality agreement
with respect to any and all information contained in the PIP.
(c) In order to participate in the Auction, the potential
bidder must be deemed a Qualified Bidder. The following bidders
shall be deemed a "Qualified Bidder":
(i) The First Mortgage Lienholder (or any special
purposes entity formed by the First Mortgage Lienholder for the
purposes of credit-bidding on the Sale Assets);
(ii) Any party: (a) that submits a proposed sealed First
Round Bid for any part of the Sale Assets on the Binding Bid Form
(as defined herein) and provides the other information as set forth
; (b) that the Debtor and its Agent, in consultation with the First
Mortgage Lienholder, are satisfied that the information and
documentation provided by the potential bidder demonstrates the
potential bidder's financial ability to consummate the potential
bidder's proposed First Round Bid; (c) whose proposed First Round
Bid and financial information and documentation is submitted and
received by the Debtor via electronic mail, on or before 5:00 p.m.,
central time, on Oct. (TBD), 2019, to tmast@tranzon.com or
tgreenwell@tranzon.com or via courier to Tranzon Asset Advisors
1108-A N Dixie Ave, Elizabethtown, KY 42701; and (d) that makes a
refundable deposit in the amount of $50,000 through electronic wire
transfer to the trust account for the Debtor's counsel.
(d) In addition to the Binding Bid Form, the proposed bidder
shall submit a specific identification of the Sale Assets that the
proposed bidder desires to purchase.
(e) As used in the Order, a "Qualified Bid" is (a) any bid or
credit bid submitted by the First Mortgage Lienholder, or (b) any
bid from a Qualified Bidder that is timely submitted prior to any
First Round Bid Deadline. Except for the First Mortgage Lienholder,
any Qualified Bidder submitting a Qualified Bid agrees that if its
bid is the second highest and otherwise best bid following the
Successful Bid, such Qualified Bidder shall serve as Backup Bidder.
(f) The First Mortgage Lienholder (or any special purpose
entity formed by the First Mortgage Lienholder for the purposes of
credit-bidding) may credit bid at any time throughout the process
set forth, and need not submit a First Round Bid. The First
Mortgagee Lienholder's credit bid shall not exceed the then current
balance of the indebtedness, without offset, owed to the First
Mortgage Lienholder, including, without limitation, all interest,
fees, expenses (including attorney and the professional fees and
expenses) costs, charges, plus any amounts that may be paid by the
First Mortgage Lienholder as set forth.
The bidding process will be a two-round process. Any Qualified
Bidder may submit a bid as follows:
(a) First Round: Sealed Bid
(i) Deadline: Except for the First Mortgage Lienholder,
the sealed Qualified Bid must be received on or before the First
Round Bid Deadline. Any Qualified Bidder that submits a Qualified
Bid that is timely submitted and accepted by the Debtor, in
consultation with the First Mortgage Lienholder, shall be
considered a "First Round Bid."
(ii) Review of First Round Bids - On Oct. (TBD), 2019, at
10:30 a.m. (CT), at (TBD), the Debtor, Agent, and the First
Mortgage Lienholder will open the First Round Bids and collectively
determine which of the First Round Bids advance to the Second Round
pursuant to the guidelines set forth.
(iii) In the determination of the Debtor and the First
Mortgage Lienholder, the following First Round Bids shall advance
to the Second Round:
(1) The three highest and otherwise best First Round
Bids submitted for the purchase of all the Sale Assets.
(2) Any First Round Bid within the top 25% of the
then perceived highest and otherwise best bid for either the Real
Property only asset class or Personal Property only asset class.
(3) The three highest and otherwise best First Round
Bids submitted for the Real Property only asset class and the
Personal Property only asset class.
(4) Notwithstanding whether the First Mortgage
Lienholder submits a First Round Bid, the First Mortgage
Lienholder.
(iv) The Debtor, in consultation with and with the input
of the First Mortgage Lienholder, shall have the discretion to
determine whether the Second Round shall proceed for any reason
whatsoever, including, without limitation, there are not enough
bids or the bids received are too low.
(v) At any time during the First Round, the First
Mortgage Lienholder may, but is not required to, submit a First
Round Bid either in cash or via credit bid, or a combination of
both. Notwithstanding whether the First Mortgage Lienholder
submits a First Round Bid, the First Mortgage Lienholder shall
automatically be a Qualified Second Round Bidder and advance to the
Second Round if such Second Round is set to occur.
(b) Second Round Auction.
(i) Only Qualified Second Round Bidders. The bid of each
Qualified Second Round Bidder shall be deemed a "Qualified Second
Round Bid."
(ii) The Second Round Auction shall begin on (TBD) 2019
at 2:00 p.m. (CT) at www.tranzon.com. The auction shall continue
for 24 hours, with bidding closing at 2:00 p.m. (CT) on (TBD). In
the determination of the Debtor, its Agent, and the First Mortgage
Lienholder, the Closing Time may be extended. Any bids placed
within four minutes of the scheduled closing of the bid will cause
the bidding to automatically reset (extend) to four minutes. This
process of extended bidding will continue until such time as no
bids are placed for at least four (4) minutes, at which time the
bidding will automatically close unless extended as described.
(iii) Prior to the Second Round, the Debtor, in
consultation with the First Mortgage Lienholder, shall determine
the highest and best First Round Bids for each of (a) all Sale
Assets, (b) Real Property only, and (c) Personal Property only. If
the Second Round All Asset Baseline Bid exceeds the combined value
of the Second Round Real Property Baseline Bid and the Second Round
Personal Property Bid, the Second Round All Asset Baseline Bid
shall be the minimum opening bid in the Second Round, and the Sale
Assets will not be offered separately in the Second Round. If the
combined value of the Second Round Real Property Bid and Second
Round Personal Property Bid exceed the value of the Second Round
All Asset Baseline Bid, the Second Round shall accept bids for all
Sale Assets, Real Property only, and Personal Property only.
(iv) An online auction shall be held at www.tranzon.com,
and shall be administered by the Debtor's Agent. A full record of
the online auction shall be maintained. The Debtor and First
Mortgage Lienholder shall have real-time, full, and complete access
to view the online auction bids. Upon request, the Agent shall
promptly provide any information requested by either the Debtor or
the First Mortgage Lienholder with the exception of such items as
would disclose confidential matters of bidders. Assuming each
asset class is being auctioned in the Second Round, the minimum
overbids shall be as follows: (A) for all Sale Assets, $10,000 over
and above the Second Round All Asset Baseline Bid; (B) for Real
Property only, $7,500 over and above the Second Round Real Property
Baseline Bid; and (C) for Personal Property only, $5,000 over and
above the Second Round Personal Property Baseline Bid.
As to the Selection of Successful Bid:
(a) The Debtor, its Agent, and the First Mortgage Lienholder
will review and
evaluate each Qualified Second Round Bid and determine which bid(s)
is/are the highest or
otherwise best offer(s), which such bids(s) shall be the
"Successful Bid" for each asset class (as applicable) with the
successful bidder for each asset class (as applicable) being the
"Successful Bidder." Each Successful Biddershall wire 10% of
his/her/its Successful Bid to the IOLTA trust account for the
Debtor's counsel. Notwithstanding anything stated herein to the
contrary, if a Successful Bidder or Backup Bidder is the First
Mortgage Lienholder, it shall not have to put up the Earnest Money
and the Buyer’s Premium need not be paid until closing.
(b) A hearing on the sale shall occur within thirty (30) days
of the selection of
the Successful Bid.
(c) Closing between the Debtor and a Successful Bidder shall
occur within 15 days of entry of the Sale Order, unless otherwise
agreed to by the Debtor and First Mortgage Lienholder.
(d) The Qualified Bidder(s) with the next highest or otherwise
best Qualified Bid(s) for each asset class (as applicable), as
determined by the Debtor, its Agent, and the First Mortgage
Lienholder, will be required to serve as the "Backup Bidder" for
each asset class (as applicable) and keep his/her/its bid open and
irrevocable until the closing on the Successful Bid for the
applicable asset class. The Debtor shall retain each Backup
Bidder's Deposit during such time that the Backup Bidder's bid
remains open and irrevocable. If the closing on the Successful Bid
between the Successful Bidder and the Debtor fails to occur, the
Backup Bidder shall become the Successful Bidder, and shall close
within 30 days of being notified that he/she/it is the new
Successful Bidder. Any Successful Bidder or Backup Bidder that
fails to timely close on his/her/its successful bid shall forfeit
his/her/its Earnest Money.
The terms of the sale are:
(a) The sale shall be on a cash basis (with the exception of
the First Mortgage Lienholder credit bid), therefore eliminating
any post-sale financing or inspection contingencies.
(b) Except as otherwise provided, the Sale Assets would be
sold on an "As Is & Where Is" basis, with no representations,
warranties or guarantees.
(c) The Debtor shall be responsible for all marketing and
listing expenses incurred in the sale of the Sale Assets. Except as
otherwise provided herein, and subject to the standard bankruptcy
Fee Application process, the Debtor's remaining professional fees
and expenses incurred prior to sale, including the cost to market
the assets as proposed herein, shall be paid at closing or closing
on the real estate from the sale proceeds, and shall hold the a
sufficient amount of the closing proceeds to pay the Debtor's fees
and professional fees and expenses up to the balance of unpaid
professional fees and expenses not to exceed a total of $20,000.
(d) Other than as is provided for herein, Debtor’s closing
costs are limited to its attorney fees. There will be a buyer's
premium of 10% which will be paid to the Agent at closing.
Further, the Agent will pay any appropriately registered Successful
Bidder's broker who represents the Successful Bidder a fee of 2%
commission from the buyer's premium. Under no circumstances will
the Trustee, estate, or other party be responsible for the payment
of any commissions. The Buyer will pay all deed taxes due and
payable at closing and shall assume the 2019 real property taxes,
and all subsequent year taxes when due, etc.
The Objection by the United States Trustee has been resolved by
agreement.
The Objection by Touchmark National Bank is overruled.
About Escue Wood Treated Products
Founded in 2013, Escue Wood Treated Products, LLC is a privately
held manufacturer of treated southern yellow pine wood. Its wood
products are manufactured in Milan and distributed in five states.
Escue Wood Treated Products sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. W.D. Tenn. Case No. 19-11142) on May
23, 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 Jimmy L. Croom. The Debtor
hired Harris Shelton Hanover Walsh, PLLC, as counsel.
FALLS EVENT: Trustee's Proposed $21K Sale of Property Approved
--------------------------------------------------------------
Judge R. Kimball Mosier of the U.S. Bankruptcy Court for the
District of Utah authorized Michael F. Thomson, the Chapter 11
Trustee for the bankruptcy estate of The Falls Event Center, LLC
and affiliates, to sell the interests in and to the property,
comprised of (a) numerous items of personal property located at
TFEC's office, at 9067 South 1300 West, West Jordan, Utah for
$7,177; (b) 2004 Chevrolet K2500HD Silverado Crew Pickup Truck, VIN
1GCHK23114F140025, to Jordan Roberts for $9,500; and (c) 2003 Pace
Arrow Shadow GT 28 foot enclosed trailer, Model SC8528TA3, VIN
4FPWB28213G074636, to Roberts for $4,500.
The Purchase Agreement is approved.
The sale is free and clear of any interests, with any interest that
might be asserted in the Property attaching to the Net Sale
Proceeds.
The 14-day stay imposed by Rule 6004(h) is waived.
The hearing scheduled for Nov. 5, 2019 at 11:00 a.m. is stricken.
About The Falls Event Center
The Falls Event Center LLC sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. D. Utah Case No. 18-25116) on July 11,
2018. At the time of the filing, the Debtor was estimated to have
assets of $50 million to $100 million and liabilities of $100
million to $500 million.
Judge R. Kimball Mosier oversees the case.
Ray Quinney & Nebeker P.C. is the Debtor's legal counsel. The
Debtor tapped Gil Miller and his firm Rocky Mountain Advisory, LLC,
as restructuring advisors.
On July 27, 2018, the U.S. Trustee appointed an official committee
of unsecured creditors in the case.
In November 2018, Judge R. Kimball Mosier entered an order
appointing a Chapter 11 trustee. DORSEY & WHITNEY LLP is the
Trustee's counsel.
FERRELLGAS PARTNERS: S&P Lowers ICR to 'CCC-'; Outlook Negative
---------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on Ferrellgas
Partners L.P. (Ferrellgas), a propane distributor, and its
operating subsidiary, Ferrellgas L.P., to 'CCC-' from 'CCC'.
At the same time, S&P is lowering its issue-level rating on
Ferrellgas' structurally subordinated $357 million notes to 'C'
from 'CC' and is affirming its 'CCC-' issue-level rating on
Ferrellgas L.P.'s senior notes. S&P is also revising its recovery
rating on Ferrellgas L.P.'s notes to '4' from '5'.
The downgrade is based on S&P's assessment that Ferrellgas' capital
structure is unsustainable given the upcoming maturity of its $357
million notes due June 2020. The company will also face the
maturity of another $1.5 billion of various notes issued by
Ferrellgas L.P., its operating subsidiary, each year in 2021-2023.
S&P anticipates that the partnership will face a liquidity deficit
over the next 12 months and will likely pursue a restructuring or
distressed exchange of its 2020 notes in the next three to six
months.
The negative outlook on Ferrellgas reflects S&P's expectation that
the partnership will likely initiate a distressed exchange or
restructuring of its $357 million structurally subordinated senior
notes due June 2020 in the next six months given its weak liquidity
and a capital structure that S&P views as unsustainable. The rating
agency anticipates that the partnership could also pursue an
exchange or restructuring for a portion of its $1.5 billion senior
notes due 2021-2023 issued by Ferrellgas L.P. S&P's base-case
scenario assumes normal winter temperatures and forecast EBITDA of
about $260 million-$265 million in both 2019 and 2020.
"We would lower our rating on Ferrellgas if the partnership
announced a distressed exchange or debt restructuring under which
its debtholders would receive less than the originally promised
principal amount," S&P said.
"We could raise our rating on the partnership if we expect it to
refinance or repay the upcoming debt maturity at par. This could
occur if Ferrellgas' retail propane volumes improved substantially
in the next six months due to colder-than-expected winter weather
and the partnership materially reduced its growth capital
expenditures or acquisition spending," the rating agency said.
FIN ASSOCIATES: Taps Berger & Bornstein as Special Counsel
----------------------------------------------------------
Fin Associates Limited Partnership seeks approval from the U.S.
Bankruptcy Court for the District of New Jersey to hire Berger &
Bornstein, P.A., as its special counsel.
The firm will provide legal services in connection with a pending
appeal of the determination of the state court litigation entitled
Joy Systems, Inc. v. Fin Associates Limited Partnership and United
States Land Resources, L.P. The Debtor also needs the firm's
services in connection with the anticipated sale of its real
property.
Lawrence Berger, Esq., at Berger & Bornstein, disclosed in court
filings that the firm and its attorneys and employees are
"disinterested" within the meaning of Section 101(14) of the
Bankruptcy Code.
Berger & Bornstein can be reached through:
Lawrence S. Berger, Esq.
Berger & Bornstein, P.A.
237 South Street
Morristown, NJ 07960
Phone: (973) 993-8600
About Fin Associates LP
Fin Associates Limited Partnership sought protection under Chapter
11 of the Bankruptcy Code (Bankr. D.N.J. Case No. 19-28386) on
Sept. 27, 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
Vincent F. Papalia. Rabinowitz, Lubetkin & Tully, LLC, is the
Debtor's legal counsel.
FIRSTENERGY SOLUTIONS: Files 8th Amended Reorganization Plan
------------------------------------------------------------
FIRSTENERGY SOLUTIONS CORP., et al., filed an Eighth Amended Joint
Plan of Reorganization.
The Plan provides that:
* Class A3 consists of Unsecured PCN/FES Notes Claims against
FES. IMPAIRED. The Unsecured PCN/FES Notes Claims Against FES shall
be Allowed in the aggregate amount of $2,237,912,062. Each Holder
of an Allowed Unsecured PCN/FES Notes Claim Against FES shall
receive, on the Effective Date or as soon as reasonably practicable
thereafter, New Common Stock, subject to dilution for the
Management Incentive Plan, in an amount equal to its Pro Rata share
of FES Unsecured Distributable Value.
* Class A4 consists of Mansfield Certificate Claims against FES.
IMPAIRED. The Mansfield Certificate Claims Against FES shall be
Allowed in the aggregate amount of $786,763,400. Each Holder of an
Allowed Mansfield Certificate Claim Against FES shall receive, on
the Effective Date or as soon as reasonably practicable thereafter,
New Common Stock, subject to dilution for the Management Incentive
Plan, in an amount equal to its Pro Rata share of FES Unsecured
Distributable Value.
* Class A5 consists of Holders of FENOC-FES Unsecured Claims.
IMPAIRED. Each Holder of an Allowed FENOC-FES Unsecured Claim
Against FES shall receive, on the Initial Distribution Date, cash
equal to its Pro Rata share of (i) the FES Unsecured Distributable
Value, and (ii) the FENOC-FES Claim Reallocation.
* Class A6 consists of FES Single-Box Unsecured Claims.
IMPAIRED. each Holder of an Allowed FES Single-Box Unsecured Claim
shall receive, on the Initial Distribution Date, cash equal to its
Pro Rata share of (i) the FES Unsecured Distributable Value, (ii)
the portion of the Reallocation Pool allocated to FES, (iii) the
FENOC-FES Claim Reallocation, and (iv) the NG Reallocation Pool.
* Class A7 consists of the Mansfield TIA Claims against FES and
the Mansfield OT Claims against FES. IMPAIRED.The Mansfield TIA
Claims against FES shall be Allowed as Unsecured Claims in the
aggregate amount of $182,000,000.00. Each Holder of an Allowed
Mansfield Indemnity Claim against FES shall receive, on the Initial
Distribution Date, cash equal to its Pro Rata share of FES
Unsecured Distributable Value.
* Class A8 consists of all Convenience Claims against FES.
IMPAIRED. Each Holder of an Allowed Convenience Claim against FES
that has properly elected to be treated as such on its Ballot shall
receive, on the Initial Distribution Date, Cash in an amount equal
to 36.4% of the Allowed Convenience Claim.
* Class A9 consists of prepetition Inter-Debtor Claims against
FES. IMPAIRED. Each Holder of an Allowed prepetition Inter-Debtor
Claim against FES shall receive their Pro Rata share of the FES
Unsecured Distributable Value.
* Class A10 consists of Interests in FES. IMPAIRED. As of the
Effective Date, Interests in FES shall be cancelled and released
without any distribution on account of such Interests.
* Class B4 consists of the Secured FG PCN Reinstated Claims
against FG. IMPAIRED. The Secured FG PCN Reinstated Claims shall be
Allowed in the aggregate principal amount of $146,300,000.Allowed
Secured FG PCN Reinstated Claims shall be Reinstated in full on the
Effective Date or as soon as practicable thereafter.
* Class B5 consists of Unsecured PCN/FES Notes Claims against
FG. IMPAIRED. The Unsecured PCN/FES Notes Claims against FG shall
be Allowed in the aggregate amount of $2,237,912,062. Each Holder
of an Allowed Unsecured PCN/FES Notes Claim Against FG shall
receive, on the Effective Date or as soon as reasonably practicable
thereafter, New Common Stock, subject to dilution for the
Management Incentive Plan, in an amount equal to its Pro Rata share
of the FG Unsecured Distributable Value.
* Class B6 consists of Mansfield Certificate Claims against FG.
IMPAIRED. Each Holder of an Allowed Mansfield Certificate Claim
Against FG shall receive, on the Effective Date or as soon as
reasonably practicable thereafter, New Common Stock, subject to
dilution for the Management Incentive Plan, in an amount equal to
its Pro Rata share of the FG Unsecured Distributable Value.
* Class B7 consists of FG Single-Box Unsecured Claims. IMPAIRED.
Each Holder of an Allowed FG Single-Box Unsecured Claim shall
receive, on the Initial Distribution, cash equal to its Pro Rata
share of (i) the FG Unsecured Distributable Value and (ii) the
Reallocation Pool allocable to FG.
* Class B8 consists of the Mansfield TIA Claims against FG and
the Mansfield OT Claims against FG. IMPAIRED. Each Holder of an
Allowed Mansfield Indemnity Claim against FG shall receive, on the
Initial Distribution Date, cash equal to its Pro Rata share of FG
Unsecured Distributable Value.
* Class B9 consists of all Convenience Claims against FG.
IMPAIRED. Each Holder of an Allowed Convenience Claim against FG
that has properly elected to be treated as such on its Ballot shall
receive, on the Initial Distribution Date, Cash in an amount equal
to 22.0% of the Allowed Convenience Claim.
* Class B10 consists of prepetition Inter-Debtor Claims against
FG. IMPAIRED. The prepetition Inter-Debtor Claims of FGMUC against
FG shall be Allowed as Unsecured Claims in the aggregate amount of
$901,881,812. Each Holder of an Allowed prepetition Inter-Debtor
Claim against FG shall receive their Pro Rata share of the FG
Unsecured Distributable Value.
* Class B11 consists of Interests in FG. Reorganized FES shall
retain ownership of all Interests in FG.
* Class C3 consists of the Secured NG PCN Claims against NG.
IMPAIRED. The Secured NG PCN Claims shall be Allowed in the
aggregate principal amount of $284,600,000. Allowed Secured NG PCN
Claims shall be Reinstated in full on the Effective Date, or as
soon thereafter as practicable.
* Class C4 consists of Unsecured PCN/FES Notes Claims against
NG. IMPAIRED. The Unsecured PCN/FES Notes Claims Against NG shall
be Allowed in the aggregate amount of $2,237,912,062. Each Holder
of an Allowed Unsecured PCN/FES Notes Claim Against NG shall
receive, on the Effective Date or as soon as reasonably practicable
thereafter, New Common Stock, subject to dilution for the
Management Incentive Plan, in an amount equal to its Pro Rata share
of NG Unsecured Distributable Value.
* Class C5 consists of Mansfield Certificate Claims against NG.
IMPAIRED. Each Holder of an Allowed Mansfield Certificate Claim
Against NG shall receive, on the Effective Date or as soon as
reasonably practicable thereafter, New Common Stock, subject to
dilution for the Management Incentive Plan, in an amount equal to
its Pro Rata share of NG Unsecured Distributable Value.
* Class C6 consists of NG Single-Box Unsecured Claims. IMPAIRED.
Each Holder of an Allowed NG Single-Box Unsecured Claim shall
receive, on the Initial Distribution Date, cash equal to their Pro
Rata share of NG Unsecured Distributable Value.
* Class C7 consists of Holders of NG-FENOC Unsecured Claims.
IMPAIRED. Each Holder of an Allowed NG-FENOC Unsecured Claim
against NG shall receive, on the Initial Distribution, cash equal
to their Pro Rata share of NG Unsecured Distributable Value.
* Class C8 consists of all Convenience Claims against NG.
IMPAIRED. Each Holder of an Allowed Convenience Claim against NG
that has properly elected to be treated as such on its Ballot shall
receive, on the Initial Distribution Date, Cash in an amount equal
to 35.7% of the Allowed Convenience Claim.
* Class C9 consists of prepetition Inter-Debtor Claims against
NG. IMPAIRED. Each Holder of an Allowed prepetition Inter-Debtor
Claim against NG, if any, shall receive their Pro Rata share of the
NG Unsecured Distributable Value.
* Class C10 consists of Interests in NG. Reorganized FES shall
retain ownership of all of the Interests in NG.
* Class D3 consists of Holders of FENOC-FES Unsecured Claims.
IMPAIRED. Each Holder of an Allowed FENOC-FES Unsecured Claim
against FENOC shall receive, on the Initial Distribution Date, cash
equal to its Pro Rata share of FENOC Unsecured Distributable
Value.
* Class D4 consists of FENOC Single-Box Unsecured Claims.
IMPAIRED. Each Holder of an Allowed FENOC Single-Box Unsecured
Claim shall receive, on the Initial Distribution Date, cash equal
to its Pro Rata share of (i) the FENOC Unsecured Distributable
Value and (ii) the portion of the Reallocation Pool allocable to
FENOC.
* Class D5 consists of Holders of NG-FENOC Unsecured Claims.
IMPAIRED. each Holder of an Allowed NG-FENOC Unsecured Claim shall
receive, on the Initial Distribution Date, cash equal to its Pro
Rata share of FENOC Unsecured Distributable Value.
* Class D6 consists of all Convenience Claims against FENOC.
IMPAIRED. Each Holder of an Allowed Convenience Claim against FENOC
that has properly elected to be treated as such on its Ballot shall
receive, on the Initial Distribution Date, Cash in an amount equal
to 24.3% of the Allowed Convenience Claim.
* Class D7 consists of prepetition Inter-Debtor Claims against
FENOC. IMPAIRED. Each Holder of an Allowed prepetition Inter-Debtor
Claim against FENOC shall receive their Pro Rata share of the FENOC
Unsecured Distributable Value.
* Class D8 consists of Interests in FENOC. On the Effective
Date, Interests in FENOC shall be cancelled and released without
any distribution on account of such Interests.
* Class E3 consists of the Mansfield Certificate Claims against
FGMUC. IMPAIRED. The Mansfield Certificate Claims shall be allowed
in the amount of $786,763,400 in accordance with the terms of the
Mansfield Settlement. Each Holder of an Allowed Mansfield
Certificate Claim against FGMUC shall receive, on the Effective
Date or as soon as reasonably practicable thereafter, New Common
Stock subject to dilution for the Management Incentive Plan, in an
amount equal to its Pro Rata share of FGMUC Unsecured Distributable
Value.
* Class E4 consists of FGMUC Single-Box Unsecured Claims.
IMPAIRED. The Holders of FGMUC Single-Box Unsecured Claims shall
receive, on the Initial Distribution Date, cash equal to its Pro
Rata share of (i) the FGMUC Unsecured Distributable Value, and (ii)
the portion of the Reallocation Pool allocable to FGMUC.
* Class E5 consists of the Mansfield TIA Claims against FGMUC
and the Mansfield OT Claims against FGMUC. IMPAIRED. The Mansfield
TIA Claims against FGMUC shall be Allowed as Unsecured Claims in
the aggregate amount of $182,000,000.00. Each Holder of an Allowed
Mansfield Indemnity Claim against FGMUC shall receive, on the
Initial Distribution Date, cash equal to its Pro Rata share of the
FGMUC Unsecured Distributable Value.
* Class E6 consists of all Convenience Claims against FGMUC.
IMPAIRED. Each Holder of an Allowed Convenience Claim against FGMUC
that has properly elected to be treated as such on its Ballot shall
receive, on the Initial Distribution Date, Cash in an amount equal
to 18.0% of the Allowed Convenience Claim.
* Class E7 consists of prepetition Inter-Debtor Claims against
FGMUC. IMPAIRED. Each Holder of an Allowed prepetition Inter-Debtor
Claim against FGMUC shall receive their Pro Rata share of the FGMUC
Unsecured Distributable Value.
* Class E8 consists of Interests in FGMUC.In the discretion of
the Debtors, in consultation with the Consenting Creditors and the
Committee, Reorganized FG shall continue to own all of the
Interests in FGMUC or FGMUC shall be dissolved and all Interests in
FGMUC shall be cancelled and released without any distribution on
account of such Interests.
* Class F3 consists of General Unsecured Claims against FE
Aircraft. IMPAIRED. each Holder of an Allowed General Unsecured
Claim Against FE Aircraft shall receive, on the Initial
Distribution Date, its Pro Rata share of the FE Aircraft Cash
Distribution Pool.
* Class F4 consists of prepetition Inter-Debtor Claims against
FE Aircraft. IMPAIRED. Each Holder of an Allowed prepetition
Inter-Debtor Claim against FE Aircraft if any, shall be treated
pari passu with Unsecured Claims against FE Aircraft and will share
in distributions from FE Aircraft.
* Class F5 consists of Interests in FE Aircraft. FE Aircraft
shall be dissolved and Interests in FE Aircraft shall be cancelled
and released without any distribution on account of such
Interests.
* Class G3 consists of General Unsecured Claims against Norton.
IMPAIRED. Each Holder of an Allowed General Unsecured Claim Against
Norton shall receive, on the Initial Distribution Date, its Pro
Rata share of the Norton Cash Distribution Pool.
* Class G4 consists of prepetition Inter-Debtor Claims against
Norton. IMPAIRED. Each Holder of an Allowed prepetition
Inter-Debtor Claim against Norton, if any, shall be treated pari
passu with General Unsecured Claims Norton and will share in
distributions from Norton.
* Class G5 consists of Interests in Norton. Reorganized FG shall
retain ownership of all of the Interests in Norton.
Distributions under the Plan shall be funded with, as applicable:
(i) the New Common Stock, (ii) Cash on hand at the Debtors, and
(iii) the FE Settlement Value contributed to the Debtors under the
FE Settlement Agreement and the FE Settlement Order.
A full-text copy of the Eighth Amended Joint Plan of Reorganization
dated October 11, 2019, is available
at https://tinyurl.com/yyxufuaf from PacerMonitor.com at no
charge.
The Consenting Creditors' attorneys:
Kramer Levin Naftalis & Frankel LLP
1177 Avenue of the Americas
New York, New York 10036
Attn: Amy Caton
Joseph A. Shifer
E-mail: acaton@kramerlevin.com; jshifer@kramerlevin.com
- and -
Latham & Watkins LLP
885 Third Avenue
New York, New York 10022
Attn: George A. Davis
Andrew M. Parlen
Email: george.davis@lw.com, andrew.parlen@lw.com
- and -
Davis Polk & Wardwell LLP
450 Lexington Avenue
New York, New York 10017
Attn: Darren S. Klein
Natasha Tsiouris
Email: darren.klein@davispolk.com;
natasha.tsiouris@davispolk.com
- and -
Sidley Austin LLP
555 West Fifth Street, Suite 4000
Los Angeles, California 90013
Attn: Jennifer C. Hagle
Anna Gumport
Email: jhagle@sidley.com; agumport@sidley.com
- and -
Seward & Kissel LLP
One Battery Park Plaza
New York, New York 10004
Attn: Robert J. Gayda
Gregg S. Bateman
Email: gayda@swekis.com; bateman@sewkis.com
The Official Committee of Unsecured Creditors' attorneys:
Milbank LLP
55 Hudson Yards
New York, New York 10001
Attn: Dennis Dunne
Evan Fleck
Parker Milender
Email: ddunne@milbank.com, efleck@milbank.com;
pmilender@milbank.com
The FE Non-Debtor Parties' attorneys:
JONES DAY
901 Lakeside Avenue
Cleveland, OH 44114-1190
Attn: Heather Lennox
Thomas M. Wearsch
T. Daniel Reynolds
About FirstEnergy Solutions
Akron, Ohio-based FirstEnergy Solutions, Corp. (FES) is a
subsidiary of FirstEnergy Corp (NYSE:FE). FES --
http://www.firstenergycorp.com/-- provides energy-related products
and services to retail and wholesale customers; and owns and
operates 5,381 MWs of fossil generating capacity through its
FirstEnergy Generation subsidiaries. FES also owns 4,048 MWs of
nuclear generating capacity through its FirstEnergy Nuclear
Generation subsidiary. Nuclear generating plants are operated by
FirstEnergy Nuclear Operating Company (FENOC), which is a separate
subsidiary of FirstEnergy Corp.
On March 31, 2018, FirstEnergy Solutions and 6 affiliates,
including FENOC, each filed a voluntary petition for relief under
Chapter 11 of the United States Bankruptcy Code (Bankr. N.D. Ohio
Lead Case No. 18-50757). The cases are pending before the
Honorable Judge Alan M. Koschik and their cases be jointly
administered under Case No. 18-50757.
Parent company, First Energy Corp. and its other subsidiaries,
including its regulated subsidiaries, are not part of the filing
and will not be subject to the Chapter 11 process. First Energy
Corp. listed $42.2 billion in total assets against $4.07 billion in
total current liabilities, $21.1 billion in long-term debt and
other long-term obligations and $13.1 billion in non-current
liabilities as of Dec. 31, 2017.
The Debtors tapped Akin Gump Strauss Hauer & Feld LLP as bankruptcy
counsel; Brouse McDowell LPA as co-counsel; Lazard Freres & Co. as
investment banker; Alvarez & Marsal North America, LLC, as
restructuring advisor and Charles Moore as chief restructuring
officer; and Prime Clerk as claims and noticing agent. The Debtors
also tapped Willkie Farr & Gallagher LLP, Hogan Lovells US LLP and
Quinn Emanuel Urquhart & Sullivan, LLP as special counsel.
The U.S. Trustee for Region 9 appointed an official committee of
unsecured creditors on April 12, 2018. Milbank, Tweed, Hadley &
McCloy LLP and Hahn Loeser & Parks LLP serve as counsel to the
committee.
FRUTTA BOWLS: Exclusivity Period Extended Until Nov. 14
-------------------------------------------------------
Judge Michael Kaplan of the U.S. Bankruptcy Court for the District
of New Jersey extended the period during which only Frutta Bowls
Franchising, LLC can file a Chapter 11 plan to Nov. 14.
About Frutta Bowls Franchising
Frutta Bowls Franchising is a fast-casual franchise committed to
becoming an active lifestyle brand within every local community.
Frutta Bowls filed a voluntary Chapter 11 petition (Bankr. D.N.J.
Case No. 19-13230) on Feb. 15, 2019, listing under $1 million in
both assets and liabilities.
The case is assigned to Judge Michael B. Kaplan.
Spadea Lignana is the Debtor's counsel.
A committee of unsecured creditors was appointed in the Debtor's
case. Porzio, Bromberg & Newman, P.C., is the committee's counsel.
GOOD NOODLES: May Obtain DIP Financing on Final Basis
-----------------------------------------------------
The Bankruptcy Court for the Southern District of New York
authorized Good Noodles Inc., d/b/a Sfoglini LLC, to obtain
postpetition financing on a final basis, and to use cash collateral
through Oct. 22, 2019 pursuant to a budget, a copy of which is
available for free at:
http://bankrupt.com/misc/Good_Noodles_20(1)_Cash_Budget.pdf
A further interim hearing is scheduled on Oct. 22, 2019 at 12 p.m.
About Good Noodles Inc.
Good Noodles Inc., d/b/a Sfoglini LLC, is a producer of classic
Italian style pasta made with organic grains. Good Noodles sought
Chapter 11 protection (Bankr. S.D.N.Y. Case No. 19-36441) in
Poughkeepsie, New York, on Sept. 4, 2019. Judge Cecelia G. Morris
administers the Debtor's case. In the petition signed by Scott
Ketchum, president, the Debtor was estimated to have $500,000 to $1
million in assets, and $1 million to $10 million in liabilities.
KIRBY AISNER & CURLEY LLP is the Debtor's counsel.
HAGUE TEXTILES: Cash Collateral Hearing Continued to Dec. 19
------------------------------------------------------------
Judge Christopher J. Panos of the U.S. Bankruptcy Court for the
District of Massachusetts granted Hague Textiles authorization on
further use cash collateral on an interim basis through the
continued hearing which will be held on Dec. 19, 2019 at 11:00 a.m.
About Hague Textiles
Hague Textiles, Inc. is a small, family-owned manufacturer,
focusing on leather and leather goods such as belts, bags, and
carrying case. The company sells products to retail and wholesale
customers, and is developing a business with corporate gifts.
Hague Textiles sought Chapter 11 protection (Bankr. D. Mass. Case
No. 19-13323) on Sept. 30, 2019. Madoff & Khoury LLP is the
Debtor's counsel.
HAMLETT ENTERPRISES: Nov. 13 Hearing on Disclosure Statement
------------------------------------------------------------
A hearing to determine whether the First Disclosure Statement filed
by Hamlett Enterprises Inc. contains adequate information as
required by Section 1125 of the Bankruptcy Code will be held before
the US Bankruptcy Judge at the United States Courthouse, 801 E
Sherman St., Pocatello, ID 83201, on Nov. 13, 2019 at 9:00 a.m.
Mountain Time.
Written objections and/or proposed modifications to the Disclosure
Statement must be filed not less than seven days prior to the time
set for hearing.
According to the First Amended Disclosure Statement, Hamlett
Enterprises filed a Chapter 11 Plan that proposes to pay secured
creditors monthly payments at their contract interest rate and
payments of interest only for the first 12 months followed by
payments of principal and interest amortized over 30 years with a
balloon payment at the end of the 60th month in an amount equal to
each secured creditor's outstanding balance as of the end of the
60th month following the Effective Date of the Plan. It also
provides that if secured creditors desire an early payoff, they can
make that election, at a substantial discount, and the Debtor can
prepay, at its option, in the 24th month of the Plan.
Administrative creditors will be paid in full in equal monthly
installments over the first year after the Effective Date.
Priority unsecured creditors will be paid fully amortized principal
and interest payments over the 48 months following the Effective
Date of the Plan. The Debtor proposes to pay unsecured creditors
bi-annually in an amount equal to 2.5% of their claims for a total
annual payment of 5% of their claims for 60 months with the balloon
payment equal to the remaining 75% of their claims at the end of
the 60th month following the Effective Date of the Plan.
Unsecured creditors with claims of $3,500 or less may elect to
receive a one-time lump sum payment equal to 25% of their claim 180
days after the Effective Date as payment in full of the claims.
The financial projections add $10,000 to the 2017 lodging sales of
$246,000 such that projected lodging sales in the first 12 months
of the plan are $256,000. The other income and expense items in
the Appendix E financial projections are in substantial conformance
with the 2017 income and expense line items.
A full-text copy of the First Amended Disclosure Statement dated
Oct. 11, 2019, is available at https://tinyurl.com/y5au9nxo from
PacerMonitor.com at no charge.
About Hamlett Enterprises
Based in Salmon, Idaho, Hamlett Enterprises, Inc., filed a petition
under Chapter 11 of the Bankruptcy Code (Bankr. D. Idaho Case No.
18-41169) on Dec. 14, 2018. The Debtor was estimated to have under
$1 million in both assets and liabilities. Maynes Taggart PLLC,
led by Robert J. Maynes, is the Debtor's counsel.
HEATING & PLUMBING: Hercules Appointed as New Committee Member
--------------------------------------------------------------
The Office of the U.S. Trustee on Oct. 17, 2019, appointed Hercules
Industries, Inc. as new member of the official committee of
unsecured creditors in the Chapter 11 case of Heating & Plumbing
Engineers, Inc.
Hercules Industries replaced Barkwood, Inc., which was appointed as
committee member on Sept. 24.
Hercules Industries can be reached through:
Michelle Cleveland
Hercules Industries, Inc.
c/o David Law Miller & Law
1900 W. Littleton Blvd.
Littleton, CO 80120
Tel: (303)722-6500
E-mail: dbl@millerandlaw.com
The other members of the committee are Long Building Technologies,
Inc. and CFM Company, court filings show.
About Heating & Plumbing Engineers
Founded in 1947, Heating & Plumbing Engineers, Inc., a mechanical
contractor, provides HVAC sheet metal, plumbing, and piping systems
services in Colorado.
Heating & Plumbing Engineers filed a voluntary petition pursuant to
Chapter 11 of the Bankruptcy Code (Bankr. D. Colo. Case No.
19-16183) on July 19, 2019. In the petition signed by CEO William
T. Eustace, the Debtor disclosed $13,845,361 in assets and
$14,934,602 in liabilities. Lee M. Kutner, Esq., at Kutner Brinen,
P.C., is the Debtor's counsel.
HERMITAGE OFFSHORE: President Buys 70,000 Common Shares
-------------------------------------------------------
Robert Bugbee, president of Hermitage Offshore Services Ltd., has
purchased 70,000 common shares of the Company at an average price
of $1.03 per share in the open market.
About Hermitage Offshore
Hermitage Offshore Services Ltd. --
http://www.hermitage-offshore.com/-- is a Bermuda-based offshore
support vessel company that owns 23 vessels consisting of 10
platform supply vessels, or PSVs, two anchor handling tug supply
vessels, or AHTS vessels, and 11 crew boats. The Company's vessels
primarily operate in the North Sea or the West Coast of Africa.
Nordic American reported a net loss and comprehensive loss of
US$197.29 million for the year ended Dec. 31, 2018, following a net
loss and comprehensive loss of US$29.32 million for the year ended
Dec. 31, 2017. As of June 30, 2019, the Company had US$205.74
million in total assets, US$150.75 million in total current
liabilities, US$121,000 in total non-current liabilities, and
US$54.87 million in shareholders' equity.
KPMG AS, in Oslo, Norway, the Company's auditor since 2014, issued
a "going concern" qualification in its report dated May 15, 2019,
on the Company's consolidated financial statements for the year
ended Dec. 31, 2018, citing that the Company has suffered recurring
losses from operations and is required to raise additional capital
in order to refinance its Initial Credit Facility which raises
substantial doubt about its ability to continue as a going concern.
HIGHLAND CAPITAL: NREA Not Part of Chapter 11 Cases
---------------------------------------------------
NexPoint Real Estate Advisors, L.P. ("NREA") released information
on Oct. 16, 2019, on the voluntary Chapter 11 bankruptcy filing
from Highland Capital Management, L.P. ("HCMLP"), an investment
adviser on the Highland Capital Management platform affiliated with
NREA through common ownership. HCMLP is seeking voluntary Chapter
11 protection, and filed a petition on Oct. 16 in the United States
Bankruptcy Court for the District of Delaware. The filing stems
from a pending judgment that, if confirmed against HCMLP, could
exceed HCMLP's liquid assets.
NREA is not involved in the HCMLP Chapter 11 petition. Further,
NREA's network of affiliates, including NexPoint Advisors, L.P.
("NexPoint"), an SEC-registered investment for which NREA manages
real estate investments, and the NREA subsidiaries that manage
various real estate vehicles, are not filing any bankruptcy
petitions.
NexPoint, NREA, and its subsidiaries, which manage NexPoint
Residential Trust, Inc., VineBrook Homes Trust, Inc., NexPoint
Hospitality Trust, NexPoint Real Estate Strategies Fund, and
various private real estate vehicles, will all continue to operate
in the ordinary course of business.
"[Wednes]day's filing does not encumber any of the NexPoint real
estate network operations," said Matt McGraner, NREA's chief
investment officer. "We continue to focus on building value
through our investment and business activities, which are driven by
the strong relationships we have across management teams, capital
markets partners, lenders, and vendors."
About NexPoint Real Estate Advisors
NexPoint Real Estate Advisors is a multibillion-dollar real estate
investment manager that operates across the real estate sector,
with investments in multifamily, single family rental, hospitality,
storage, and office, as well as credit investments backed by real
estate.
About Highland Capital Management, L.P.
Highland Capital Management, L.P.
--https://www.highlandcapital.com/ -- is a global alternative
investment platform founded in 1993 by Jim Dondero and Mark Okada.
Highland operates a diverse investment platform, serving both
institutional and retail investors worldwide. In addition to
high-yield credit, Highland's investment capabilities include
public equities, real estate, private equity and special
situations, structured credit, and sector- and region-specific
verticals built around specialized teams. Highland is
headquartered in Dallas, Texas and maintains offices in Buenos
Aires, Rio de Janeiro, Singapore, and Seoul.
HOOD LANDSCAPING: $81K Sale of Sparks Property to Lynn Approved
---------------------------------------------------------------
Judge John T. Larey, III, of the U.S. Bankruptcy Court for the
Middle District of Georgia authorized Hood Landscaping Products,
Inc.'s sale of approximately 28 acres located in Land Lot 145 of
the 9th Land District in Cook County, Georgia, also known as Parcel
No. 003 5-029 and is located on Whiddon Rowan Road in Sparks,
Georgia, to Coleman J. Lynn for $81,000, under the terms of their
July 23, 2019 Sales Contract.
The sale is free and clear of liens and claims.
The following will be paid at closing from the sale proceeds:
Closing costs for which the debtor is responsible under the July
23, 2019 Sales Contract, real estate taxes owed on the real estate
to Cook County Tax Commissioner and the balance of the sale
proceeds will be paid to FMB. Since FMB's claim exceeds the gross
sale price of the real estate, no proceeds will be paid to
subordinate lienholders or claimants shown above or to any other
subordinate lien or claim.
About Hood Landscaping
Hood Landscaping Products, Inc., a wholesaler of landscaping
equipment and supplies in Adel, Georgia., filed a voluntary
petition under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Ga.
Case No. 19-70644) on June 3, 2019. In the petition signed by CFO
Leon Hood, the Debtor estimated up to $50,000 in assets and $1
million to $10 million in liabilities. Judge John T. Laney III
oversees the case. Kelley, Lovett, Blakey & Sanders, P.C., is the
Debtor's counsel.
JAUREGUI TRUCKING: Granted Cash Collateral Access Thru Nov. 12
--------------------------------------------------------------
The Bankruptcy Court authorized Jauregui Trucking, Inc., to use
cash collateral on an interim basis through Nov. 12, 2019 pursuant
to the terms of the first Interim Order.
The Court directed the Debtor to pay Pacific Premier Bank weekly
payments of $10,000 to be paid each Friday, as interim adequate
protection. PPB may apply to the existing loan, funds of
approximately $12,500 currently held in PPB's suspense account.
Final hearing is set on Nov. 12, 2019 at 2 p.m. Objections must be
filed by Oct. 29 to which the Debtor must file a reply brief by
Nov. 5, 2019.
About Jauregui Trucking
Jauregui Trucking, Inc., is a trucking company in Ontario,
California. It operates 44 trucks and at least 200 dry van
trailers, and employs 75 drivers and other employees.
Jauregui Trucking sought Chapter 11 protection (Bankr. C.D. Cal.
Case No. 19-17537) on Aug. 27, 2019. In the petition signed by
Frank Jauregui, president, the Debtor disclosed total assets of
$3,004,195 and total liabilities of $6,469,273. Judge Mark D.
Houle is the case judge. The Debtor's counsel is The Bisom Law
Group.
JETSTREAM AVIATION: Cash Collateral Use Continued Through Feb. 28
-----------------------------------------------------------------
Judge Joseph M. Meier of the U.S. Bankruptcy Court for the District
of Idaho authorized Jetstream Aviation, Inc. to use cash collateral
solely for the purposes and in the amounts set forth in the budget,
subject to the conditions set forth in the Order.
The Debtor will not, without prior written consent or except as
provided in the Order, expend cash Collateral: (a) for any purpose
other than those specified in the Budget; or (b) in amounts in
excess of the total amount of any line item in the Budget for the
period from Oct. 31 through and including Feb. 28, 2020 However,
the Debtor may exceed the monthly amount for a line item expense by
not more than 10% so long as the total expenditures for all
budgeted line items do not exceed the total budgeted expense set
forth in the Budget.
To provide Secured Creditors Wells Fargo, Internal Revenue Service,
Fundkite, and BFS with adequate protection for the Debtor's use of
its Cash Collateral:
Subject to Cardinal Equity LLC's reservation of rights in accounts
purchased from the Debtor, secured creditors Secured Creditors, are
each granted adequate protection liens in all accounts inventory
and proceeds which may be acquired by the Debtor post-petition. The
grant of a lien is only to the extent of Cash Collateral used. The
extent, validity, and priority of Secured Creditors' Adequate
Protection Liens will be the same as the extent, validity and
priority of its pre-petition security interests in Debtor's
property.
Cardinal Equity will not be paid adequate protection pursuant to 11
USC Section 363, as Cardinal Equity asserts that the Estate has no
interest in the accounts sold to Cardinal Equity. The Debtor
asserts the contract between the parties is a secured loan.
Cardinal Equity will be paid $5,000 per month to be applied to the
Purchase Amount under the Agreement for Purchase and Sale of Future
Receipts (“Contract”) entered into between the Debtor and
Cardinal Equity (“Cardinal Payment.”)
A full-text copy of the Order is available at
http://bankrupt.com/misc/Idb18-01346-118.pdf
About Jetstream Aviation
Jetstream Aviation, Inc.'s principle business operation is
maintenance and staffing of private jets on two locations, one in
Boise and one in Seattle. Jetstream sought Chapter 11 protection
(Bankr. D. Idaho Case No. 18-01346) on Oct. 12, 2018. The petition
was signed by Timothy W. Griffin, president. Foley Freeman, PLLC,
led by Patrick J. Geile, serves as counsel to the Debtor.
JLD AUTOMOTIVE: Seeks to Hire David P. Lloyd as Legal Counsel
-------------------------------------------------------------
JLD Automotive Services, Inc. seeks authority from the U.S.
Bankruptcy Court for the Northern District of Illinois to hire
David P. Lloyd, Ltd. as its legal counsel.
The services to be provided by the firm include the preparation of
a Chapter 11 plan and disclosure statement, negotiations with
creditors, examination and resolution of creditor claims, and the
prosecution of adversary proceedings.
Lloyd's normal billing rate is $400 per hour but the firm has
agreed to represent the Debtor for no compensation.
David Lloyd, Esq., disclosed in court filings that his firm is a
"disinterested person" within the meaning of Section 101(14) of the
Bankruptcy Code.
The firm can be reached through:
David P. Lloyd, Ltd.
615B S. LaGrange Rd.
LaGrange IL 60525
Phone: 708-937-1264
Fax: 708-937-1265
About JLD Automotive Services
Founded in 1997, JLD Automotive Services, Inc. operates a car wash
and automotive repair center at its current location at 970 Route
22, Fox River Grove, Ill.
JLD Automotive Services, Inc. sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. N.D. Ill. Case No. 19-27408) on Sept.
27, 2019. It previously sought bankruptcy protection (Bankr. N.D.
Ill. Case No. 18-24948) on Sept. 4, 2018.
At the time of the filing, the Debtor disclosed $761,731 in assets
and $1,051,767 in liabilities. The case is assigned to Judge
Deborah L. Thorne. The Debtor tapped David P. Lloyd, Ltd. as its
legal counsel.
JOHN HOANG TRIEN: $60K Sale of 2 Anthony Lots to Casas Approved
---------------------------------------------------------------
Judge H. Christopher Mott of the U.S. Bankruptcy Court for the
Western District of Texas denied John Hoang Trien's sale of the
real property known as 1604 and 1608 Poplar, Anthony, Texas, to
Casas Diamentinas, LLC for $30,000 each lot.
The sale is free and clear of liens and interests.
From the title company closing of the sale there will be paid
transactional expenses, in this sequence:
a. An owner's title policy, paid for by the seller;
b. Escrow fees and tax certificates;
c. Other routine closing expenses, including a 3% co-broker's
commission to Exit West; and
d. Up to $2,000 to defray the fees and expenses of the
Debtor's attorney E.P. Bud Kirk for handling the sale, the exact
amount to be stated in an invoice sent to the title company.
Next there will be paid from the closing liens of record, in this
sequence:
a. From the proceeds of 1604 Poplar only, the property tax
lien now held by Hunter Kelsey III, LLC, doing business as Propel
Tax, secured by a property tax lien on 1604 Poplar, in the amount
of$12,186 plus per diem interest of $2.29 float and after Nov. 1,
2019;
b. From the proceeds of 1608 Poplar only, the debt to Hunter
Kelsey III, LLC, doing business as Propel Tax, secured by a
property tax lien on 1608 Poplar, in the amount of $12,176 plus per
diem interest of $2.29 from and after Nov. 1, 2019;
c. The first lien contractual mortgage on 1604 and 1608 Poplar
held by Robert Malooly upon which the approximate balance, with
interest, is $390,000, as far as the proceeds will reach.
It will not be necessary for releases of liens to be obtained, to
enable the closing. To the extent a lien upon 1604 and/or 1608
Poplar is not paid in full through the closing, it will be
extinguished by the closings as to 1604 Poplar and as to 1608
Poplar, respectively, and by operation of the Order.
Following each closing, the Debtor will file with the Court and
provide to the United States Trustee the statements of sale
proceeds required by F. R. Bankr. P. 6004 (f) and will include in
the disbursements for the pertinent Monthly Operating Report the
liens and expenses paid from the closing.
If a Chapter 11 Trustee is appointed by the Court in the bankruptcy
case prior to the closing of the sale transaction contemplated by
the Order, then (I) the Debtor will no longer be authorized to
close this sale transaction; and (2) the Trustee may, if the
Trustee chooses, close the sale transaction on the terms set forth
in the Order.
The ad valorem tax lien for tax years 2018 and prior pertaining to
the subject property will attach to the sales proceeds of the
pertinent property and that the closing agent will pay all ad
valorem tax debt owed incident to the subject property, earliest
years first, immediately upon closing and prior to any disbursement
of proceeds to any other person or entity.
The ad valorem taxes for year 2019 pertaining to the subject
property will be prorated in accordance with the Earnest Money
Contract and, if not paid in full at closing, will become the
responsibility of the Purchaser and the year 2019 ad valorem tax
lien will be retained against the subject property until said taxes
are paid in full.
About John Hoang Trien
The case is In re John Hoang Trien (Banks. W.D. Tex. Case No.
19-31300-hcm).
JOHN HOANG TRIEN: $91.5K Sale of 3 Anthony Lots to Casas Approved
-----------------------------------------------------------------
Judge H. Christopher Mott of the U.S. Bankruptcy Court for the
Western District of Texas denied John Hoang Trien's sale of the
real property known as 1600, 1604, and 1605 Jennifer, Anthony,
Texas to Casas Diamentinas, LLC for $30,500 each lot.
The sale is free and clear of liens and interests.
From the title company closing of the sale there will be paid
transactional expenses, in this sequence:
i. An owner's title policy, paid for by the seller;
ii. Escrow fees and tax certificates;
iii. Other routine closing expenses; and
iv. Up to $2,000 to defray the fees and expenses of the
Debtor's attorney E.P. Bud Kirk for handling the sale, the exact
amount to be stated in an invoice sent to the title company.
Next there will be paid from the closing liens of record, in this
sequence:
a. As to 1600 Jennifer only and from proceeds of 1600 Jennifer
only, the property tax lien now held by Hunter Kelsey III, LLC,
doing business as Propel Tax in the amount of $11,783 plus per diem
interest of $2.21 from and after Nov. 1, 2019;
b. Ad valorem taxes on all three properties owed to the City
of El Paso Tax Collector, pro-rated to date of closing;
c. Upon all three properties, the 3% commission to Exit West;
and
d. Upon all three properties, the first lien contractual
mortgage held by Robert Malooly upon which the approximate balance,
with interest, is $390,000, as far as the proceeds will reach.
It will not be necessary for releases of liens to be obtained, to
enable the closing. To the extent a lien is not paid in full
through the closing, it will be extinguished by the closing in
combination with the operation of the Order.
Following the closing, the Debtor will file with the Court and
provide to the United States Trustee the statements of sale
proceeds required by F. R. Bankr. P. 6004 (f) and will include in
the disbursements for the pertinent Monthly Operating Report the
liens and expenses paid from the closing.
If a Chapter 11 Trustee is appointed by the Court in the bankruptcy
case prior to the closing of the sale transaction contemplated by
the Order, then (1) the Debtor will no longer be authorized to
close the sale transaction; and (2) the Trustee may, if the Trustee
chooses, close the sale transaction on the terms set forth in the
Order.
The ad valorem tax lien for tax years 2018 and prior pertaining to
the subject property will attach to the sales proceeds and that the
closing agent will pay all ad valorem tax debt owed incident to the
subject property, earliest years first, immediately upon closing
and prior to any disbursement of proceeds to any other person or
entity.
The ad valorem taxes for year 2019 pertaining to the subject
property will be prorated in accordance with the Earnest Money
Contract and, if not paid in full at closing, will become the
responsibility of the Purchaser and the year 2019 ad valorem tax
lien will be retained against the subject property until said taxes
are paid in full.
About John Hoang Trien
The case is In re John Hoang Trien (Banks. W.D. Tex. Case No.
19-31300-hcm).
JOSEPH HEATH: $390K Sale of Alexandria Property to Stevenson Okayed
-------------------------------------------------------------------
Judge Klinnette H. Kindred of the U.S. Bankruptcy Court for the
Eastern District of Virginia authorized Joseph F. Heath's sale of
the real property described as Tax Map ID # 0924 13 0059, Groveton
Woods Subdivision, Deed Book 25409, Page 1364 as found in the land
records of Fairfax County, Virginia, and otherwise known as 7143
Huntley Creek Place #59, Alexandria, Virginia, to Riley Stevenson
for $390,000, less a $5,000 seller subsidy, pursuant to a contract
dated Aug. 17, 2019, with Addendums
The proceeds of the sale will be disbursed at settlement in the
following order:
(1) The ordinary and necessary costs of closing and
recordation, including all real estate commissions,
(2) Real property taxes owed to the County of Fairfax (if
any), and
(3) The first trust secured claim of Diatech Financial, LLC,
which is to be paid in full.
Any surplus proceeds of sale after the payments as described above
are made will be divided between the Debtor and the co-owner,
Robert Mollenberg, equally with the Debtor's share to turned over
to him directly.
The sale is free and clear of the Tax Lien identified in the IRS'
proof of claim, and that the Order will constitute good and
sufficient evidence. The property will be sold free and clear of
the Tax Lien (which will continue to attach to all other property
and rights of the Debtor) and that neither the United States
Attorney's office, nor the IRS will be required to execute a
further discharge of the lien with respect to the property.
The only interest of the United States in the property that is
subject to the sale will be the Tax Lien identified, if any should
exist, is affected by the Order.
There is a seller's commission which will be paid out of the
proceeds due Robert Mollenberg, and not those due the Debtor.
The 14-day stay under Rule 6004(h) is waived.
Upon settlement, the Debtor will promptly prepare and file a Report
of Sale detailing the distribution of the sale proceeds as
described.
About Joseph F. Heath
Joseph F. Heath sought Chapter 11 protection (Bankr. E.D. Va. Case
No. 07-14107) on Dec. 27, 2007. The Debtor estimated assets in the
range of $0 to $50,000 and $100,001 to $500,000 in debt. The
Debtor tapped Bennett A. Brown, Esq., at The Law Office of Bennett
A. Brown, as counsel.
On Dec. 22, 2017, the Court confirmed the Debtor's Second Amended
Plan.
KAUMANA DRIVE: Seeks to Use Cash Collateral in Accord with Lender
-----------------------------------------------------------------
Kaumana Drive Partners, d/b/a Legacy Hilo Rehabilitation & Nursing
Center, asks the Bankruptcy Court to authorize use of cash
collateral to pay normal operating expenses and certain Chapter 11
expenses, pursuant to a budget, from the Petition Date through Jan.
31, 2020, following an agreement reached with Lender, CPIF WTB,
LLC.
The budget provides for $840,350 in total expenses for Oct. 2019,
including $252,957 in direct nursing expenses and $194,894 in
administration expenses, a copy of which is available for free at:
http://bankrupt.com/misc/Kaumana_7(3)_Cash_Budget.pdf
The proposed stipulation provides that:
(a) As adequate protection, the Lender will be granted
replacement liens in the estate's postpetition assets, and the
proceeds thereof to the extent of the actual net diminution of
Lender's Collateral due to the Debtor's use of the collateral;
(b) Lender will hold allowed administrative claims, to the
extent the Replacement Lien proves to be inadequate to cover any
diminution, as further partial adequate protection, subject to the
carve-out;
(c) There will be a Carve-Out for (i) all fees payable to the
Clerk of the Bankruptcy Court and to the Office of the U. S.
Trustee, and (ii) the aggregate allowed unpaid fees and expenses
payable to the professionals employed pursuant to a Bankruptcy
Court order, for the period from the Petition Date to Jan. 30,
2020, of up to $350,000;
The Lender agrees to subordinate its Replacement Liens, superiority
administrative claims granted in the stipulation, and all of its
prepetition liens on the Collateral that secures Lender's Loans to
the Debtor, to ensure payment of the Carve-Out, should there not be
sufficient unencumbered funds or property to pay the allowed fees
and expenses.
About Kaumana Drive Partners
Kaumana Drive Partners, LLC, owner of a skilled nursing care
facility in Hilo, Hawaii, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Hawaii Case No. 19-01266) on Oct. 6,
2019. At the time of the filing, the Debtor disclosed assets of
between $10 million and $50 million and liabilities of the same
range. The case is assigned to Judge Robert J. Faris. CHOI & ITO
is the Debtor's counsel.
LITTLE MINDS: Day Care Center Seeks to Use Cash Collateral
----------------------------------------------------------
Little Minds 1st Academy, LLC, asked the Bankruptcy Court for
authority to use cash collateral on an interim basis to pay for
operational and administrative expenses pursuant to a budget,
pending a final hearing.
The Debtor proposed to grant Georgia Banking Company a replacement
lien as adequate protection for use of the cash collateral.
The Debtor also proposed that the right to use cash collateral will
terminate on the tenth business day after a written affidavit of
default has been filed, unless the Debtor cures the default within
that period.
Events of default include (i) the Debtor's non-compliance with the
terms of the Interim Order, (ii) the appointment of a trustee or an
examiner with expanded powers in the case, and (iii) the conversion
or dismissal of the case.
The Debtor asked the Court for a final hearing on shortened notice.
About Little Minds 1st Academy
Little Minds 1st Academy, LLC, owns a 14,140-square-foot building
used as a child care facility in Kennesaw, Ga.
Little Minds 1st Academy sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Ga. Case No. 19-63884) on Sept. 2,
2019. At the time of the filing, the Debtor disclosed $2,283,958
in assets and $1,877,107 in liabilities. The case has been
assigned to Judge Jeffery W. Cavender. Paul Reece Marr, P.C., is
the Debtor's legal counsel.
LOGISTICS BUDDY: Sale of Up to $1.2M of Accounts to WEX, Granted
----------------------------------------------------------------
The Bankruptcy Court authorized Logistics Buddy Transportation,
LLC, to sell accounts receivable of up to $1,200,000 to WEX Bank,
on a revolving basis, under the Accounts Purchase Agreement, as
amended, retroactive to the Petition Date.
The Court also authorized the Debtor to use cash collateral of up
to $1,200,000 on a revolving basis for the period from Oct. 1, 2019
through Nov. 30, 2019.
The Court granted WEX Bank, retroactive to Petition Date, a first
priority lien and security interest in all the types of collateral
granted to it under the APA.
About Logistics Buddy
Logistics Buddy Transportation, LLC, a cargo and freight company
based in Sioux Falls, S.D., sought Chapter 11 protection (Bankr.
D.S.D. Case No. 19-40294) on July 5, 2019. The Debtor's assets as
of the petition date range from $500,000 to $1 million, and its
liabilities range from $1 million to $10 million. The case is
assigned to Hon. Charles L. Nail Jr. Gerry & Kulm Ask, Prof. LLC,
led by partner Clair R. Gerry, Esq., is the Debtor's legal
counsel.
No official committee of unsecured creditors has been appointed in
the Chapter 11 case.
LONGHORN SERVICE: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Longhorn Service Company, LLC
PO Box 698
Hennessey, OK 73742
Business Description: Longhorn Service Company LLC is a privately
held company in the well servicing business
serving oil & gas operators. Longhorn
Service was established in 1988 by Tom and
Randy Holder.
Chapter 11 Petition Date: October 18, 2019
Court: United States Bankruptcy Court
Western District of Oklahoma (Oklahoma City)
Case No.: 19-14276
Judge: Hon. Janice D. Loyd
Debtor's Counsel: Stephen J. Moriarty, Esq.
FELLERS SNIDER
100 N. Broadway Ave., Suite 1700
Oklahoma City, OK 73102-8820
Tel: (405) 232-0621
Fax: (405) 232-9659
E-mail: smoriarty@fellerssnider.com
Estimated Assets: $10 million to $50 million
Estimated Liabilities: $10 million to $50 million
The petition was signed by Tom Holder, member.
A full-text copy of the petition is available for free at:
http://bankrupt.com/misc/okwb19-14276.pdf
List of Debtor's 20 Largest Unsecured Creditors:
Entity Nature of Claim Claim Amount
------ --------------- ------------
1. American Sentinel $56,126
PO Box 717
Oklahoma City, OK
73101-0717
2. BKD, LLP Enid $5,142
205 W Maple Ave., Ste 200
Enid, OK 73701
3. BlueCross Blue $74,432
Shield of Oklahoma
PO Box 731428
Dallas, TX 75373
4. Certex USA Inc. $38,319
PO Box 201553
Dallas, TX
75320-1553
5. ChemStation of Oklahoma $11,365
101 NE 24th St.
Oklahoma City, OK 73105
6. Cintas $25,135
PO Box 88005
Chicago, IL
60680-1005
7. Delta Dental of Oklahoma $4,795
PO Box 54709
Oklahoma City, OK 73154
8. Eagle Propane $6,437
PO Box 6
Hennessey, OK 73742
9. Goodall Products $48,323
PO Box 743
Oklahoma City, OK 73101
10. Hampel Oil $57,026
PO Box 875477
Kansas City, MO
64187-5477
11. IPFS Corporation $5,398
PO Box 730223
Dallas, TX
75373-0223
12. K & S Tire Inc. $8,240
PO Box 6
Alva, OK 73717
13. KB Machine and $4,000
Welding, Inc.
15543 E 840 Rd.
Kingfisher, OK 73750
14. Kosco Sales & Service $4,236
PO Box 5886
Edmond, OK 73083
15. Mac Oilfield Supply $12,514
PO Box 851801
Yukon, OK 73085
16. Maverick Oil Tools, LLC $4,449
600 N Cheyenne St.
Hennessey, OK 73742
17. Oklahoma Tax Commission Taxes $250,000
2501 N. Lincoln Blvd.
Oklahoma City, OK 73194
18. Summit Truck Group $5,316
PO Box 207006
Dallas, TX 75320
19. Sunstone Assurance, LLC $25,115
Series K-1, Keys
604 E Baltimore Pike
Media, PA 19063
20. Total Equipment $52,637
Supply Company
11451 South Santa Fe
Edmond, OK 73003
MIAMI METALS: Dec. 12 Plan Confirmation Hearing Set
---------------------------------------------------
Miami Metals I, Inc., et al., formerly known as Republic Metals
Refining Corporation, submitted a Second Amended Joint Disclosure
Statement in support of their Chapter 11 PLan.
The Official Committee of Unsecured Creditors, the Secured Parties,
the Committee members in their individual capacities (Bayside Metal
Exchange, Coeur Rochester, Inc. c/o Coeur Mining, Inc., Cyber-Fox
Trading, Inc., Minera Real de Oro S.A. de C.V., Pyropure, Inc., and
So Accurate Group, Inc.), Tiffany and Company, Laurelton Sourcing,
LLC, Yamana Gold, Inc., Pretium Exploration, Inc. and Premier Gold
Mines Limited, each on behalf of itself and its respective
affiliates (collectively, the "Supporting Parties"), support
approval of this Disclosure Statement and confirmation of the Plan,
as set forth in the plan support agreement (the "Plan Support
Agreement") which is the subject of the Debtors' Motion for Entry
of Order Under Bankruptcy Code 105(a) and 363(b) Authorizing
Debtors to Enter into and Perform Under Amended Plan Support
Agreement dated September 13, 2019.
-- Confirmation Hearing and Deadline for Objections
Confirmation Hearing will be held at 11:00 a.m. prevailing Eastern
Time, on December 12, 2019, before the Honorable Sean H. Lane,
United States Bankruptcy Judge, at the United States Bankruptcy
Court for the Southern District of New York, One Bowling Green,
Courtroom 701, New York, New York 10004. The Bankruptcy Court has
directed that objections, if any, to confirmation of the Plan be
served and filed so that they are actually received on or before
November 19, 2019, at 5:00 p.m., prevailing Eastern Time,
As of the 503(b)(9) Bar Date, the total amount of filed claims
asserted pursuant to section 503(b)(9) of the Bankruptcy Code was
approximately $54.5 million. The deadline for the Debtors to object
to 503(b)(9) claims was July 11, 2019, however, the Debtors filed a
Motion [ECF No. 1216] to extend that deadline by 90 days. The Court
granted the Motion by Order at ECF No. 1307, extending the deadline
through and including October 10, 2019. In an abundance of caution,
to ensure all appropriate objections have been asserted, the
Debtors intend to seek a second extension of the 503(b)(9) Bar
Date.
-- Development and Summary of the Plan Support Agreement.
The Debtors, Secured Parties, Committee and Bayside Metal Exchange,
Coeur Rochester, Inc. c/o Coeur Mining, Inc., Cyber-Fox Trading,
Inc., Minera Real de Ora S.A. de C.V., Pyropure Inc., So Accurate
Group Inc. (the "Committee Members") previously entered into a Plan
Support Agreement dated May 22, 2019 (the "Prior PSA") which the
Bankruptcy Court declined to approve by written decision on Aug. 9,
2019. The Bankruptcy Court declined to approve the Prior PSA
because, among other things (1) holders of significant Title
Property Claims did not participate in the negotiation of the Prior
PSA, (2) the Ownership Reserve established pursuant to the Prior
PSA was theoretically not sufficient to satisfy all Title Property
Claims; (3) the proposed timing of certain benefits under the
settlement agreement was unacceptable; and (4) a proposed provision
allowed the Litigation Trust to surcharge Customers under Section
506(c) of the Bankruptcy Code.
On Sept. 13, 2019, the Debtors filed the PSA Motion with the
Secured Parties, the Committee, (the "Committee Members") in their
individual capacities, and the Customer Parties [ECF No. 1413].
The Plan Support Agreement agreed to certain Plan-related terms
memorialized in the Joinder attached to the Plan Support Agreement,
which sets forth the principal terms of an orderly liquidation of
the remaining assets of the Debtors and satisfaction of existing
debt and other obligations of the Debtors, which will be effected
through the Plan. The Debtors, Secured Parties, Committee Members,
and Customer Parties believe the Plan Support Agreement, as
amended, addresses and remedies each of the Court's concerns
regarding the Prior PSA. The Court approved the Plan Support
Agreement on the record at the hearings on Oct. 7, 2019.
As of Oct. 8, 2019, there are $39,566,800 in asserted 503(b)(9)
Claims. The Debtors anticipate this amount may decrease prior to
Confirmation. Currently, $35.1 million of those asserted 503(b)(9)
Claims support confirmation of the Plan.
The amount and timing of the Litigation Recoveries are impossible
to predict right now, however, the underlying litigation will
include Chapter 5 claims, claims against insiders of the Debtors,
and the Assigned Claims and the Assigned Proceeds of Auditor
Claims.
If the Plan is not confirmed and the Debtors' cases are converted
to cases under Chapter 7, nearly all of these benefits will not be
available for Holders of Allowed Section 503(b)(9) Claims, who
would also be subordinated to additional fees and expenses of the
Chapter 7 trustee and his or her professionals.
The Debtors have concluded the RTMM Injunction is justified
because, inter alia, certain parties, including Fundacion Rafael
Donde, I.A.P., have sought to collect on pre-Petition Date claims
related to property of the bankruptcy estate through criminal and
other proceedings in Mexico, while at the same time participating
in the Uniform Procedures. The RTMM Injunction prevents creditors
from effecting a double recovery on their ownership claims, in
violation of the Uniform Procedures, this Court's Order at ECF
1217, and other applicable law. Fundacion Rafael Donde, I.A.P.
disputes the Debtors' entitlement to the RTMM Injunction.
A full-text copy of the Second Amended Joint Disclosure Statement
dated Oct. 11, 2019, is available at https://tinyurl.com/y5ch4cg3
from PacerMonitor.com at no charge.
About Miami Metals I
Founded in 1980, Republic Metals Refining Corporation and its
affiliates are refiner of precious metals with a primary focus on
gold and silver. They have the capacity to produce approximately
80 million ounces of silver and 350 tons of gold, along with over
55 million pieces of minted products per annum. Suppliers ship
unrefined gold and silver to Republic for refining from all over
the United States and the Western Hemisphere. They provide their
products and services to a diverse base of global mining
corporations, financial institutions and jewelry manufacturers.
Republic Metals Refining, Republic Metals Corporation and Republic
Carbon Company, LLC, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D.N.Y. Case Nos. 18-13359 to 18-13361) on
Nov. 2, 2018. Republic Metals Refining Corporation is now known
as
Miami Metals I, Inc.; Republic Metals Corporation as Miami Metals
II, Inc.; and Republic Carbon Company as Miami Metals III LLC.
In the petition signed by CRO Scott Avila, Republic Metals Refining
estimated assets of $1 million to $10 million and liabilities of
$100 million to $500 million.
The Debtors tapped Akerman LLP as their legal counsel; Paladin
Management Group, LLC as financial advisor; and Donlin, Recano &
Company, Inc., as claims and noticing agent.
NEW YORK HELICOPTER: Taps White & Wolnerman as Legal Counsel
------------------------------------------------------------
New York Helicopter Charter, Inc., seeks approval from the U.S.
Bankruptcy Court for the Southern District of New York to hire
White & Wolnerman, PLLC as its legal counsel.
The firm will provide services in connection with the Debtor's
Chapter 11 case, which include legal advice regarding its powers
and duties under the Bankruptcy Code, negotiations with creditors,
assistance with respect to the disposition of its assets, and the
preparation of a plan of reorganization.
The firm's hourly rates are:
Partners $475
Associates $350
Paraprofessionals $150
The retainer fee is $10,000.
Randolph White, Esq., a partner at White & Wolnerman, disclosed in
court filings that the firm is "disinterested" within the meaning
of Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
Randolph E. White, Esq.
White & Wolnerman, PLLC
950 Third Avenue, 11th Floor
New York, NY 10022
Tel: (212) 308-0604
Email: rwhite@wwlawgroup.com
About New York Helicopter Charter
New York Helicopter Charter Inc., a provider of helicopter tours
and charters, sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. S.D. N.Y. Case No. 19-13238) on Oct. 11, 2019. At the
time of the filing, the Debtor disclosed assets of between $1
million and $10 million and liabilities of the same range.
The case is assigned to Judge Sean H. Lane.
The Debtor tapped White & Wolnerman, PLLC as its legal counsel;
Bauman Law Group P.C. as litigation counsel; and Nussbaum Yates
Berg Klein & Wolpow, LLP as its accountant.
NUVIDORRA INC: Unsecured Creditors to Be Paid 100% in 84 Months
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida has
conditionally approved the Disclosure Statement in support of
Nuvidorra, Inc.'s Chapter 11 Plan.
The Court will conduct a hearing on confirmation of the Plan,
including timely filed objections to confirmation, objections to
the Disclosure Statement, motions for cramdown, applications for
compensation, and motions for allowance of administrative claims on
November 21, 2019 at 2:00 p.m. in Tampa, FL − Courtroom 8B, Sam
M. Gibbons United States Courthouse, 801 N. Florida Avenue.
Objections to confirmation must be filed with the Court and served
no later than seven days before the date of the Confirmation
Hearing. Any written objections to the Disclosure Statement are
also due no later than seven days prior to the hearing.
Parties in interest must submit to the Clerk's office their written
ballots accepting or rejecting the Plan no later than eight days
before the date of the confirmation hearing.
Terms of Plan
The Debtor says that its income is sufficient to cover its current
basic operational costs and to fund a plan of reorganization.
However, it is insufficient to pay the debts at the interest rate
being charged and under the collection methods of creditors.
According to the Disclosure Statement, the Plan provides that:
* Secured creditor Amazon Capital Services Inc. will be paid, at
3% interest rate over 84 months beginning 60 days from the
effective date of the Plan. Payments will be in 84 equal monthly
payments, or paid until the balance is paid in full, whereupon the
lien will be terminated.
* General unsecured creditors who elect to continue to do
business with the Debtor will receive a promissory note will have a
term of 84 months, with payments commencing 60 days from the
effective date of the Plan. The amount to be paid under the Note
Will be 100% of the creditors' allowed claims. The Notes will bear
no interest.
* General usnecured creditors who elect no to do business with
the Debtor postpeititon will receive promissory notes in the amount
of 20% of their allowed claims. Payments will be made monthly over
60 months.
* Shareholder David E. Stuckmeyer will continue to provide new
value to the Debtor. He will retain ownership and continue to
operate the company.
The Debtor expects to collect sufficient revenues in order to fund
the Plan.
A copy of the Disclosure Statement is available at
https://is.gd/FVmPJ3 from PacerMonitor.com free of charge.
About Nuvidorra Inc.
Nuvidorra, Inc., is in the business of online sales of health and
beauty products. It has one officer, David E. Stuckmeyer, who is
president.
Nuvidorra, Inc., sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Fla. Case No. 19-05832) on June 20,
2019. At the time of the filing, the Debtor disclosed assets of
between $100,001 and $500,000 and liabilities of the same range.
The case is assigned to Judge Catherine Peek Mcewen. The Debtor is
represented by the Law Offices of Melody D. Genson.
ONE BLUESKY: To Present Plan for Confirmation on Dec. 10
--------------------------------------------------------
One BlueSky Investments, LLC, has won conditional approval of the
disclosure statement in support of its Chapter 11 plan.
The hearing on confirmation of the Plan is scheduled on Tuesday,
Dec. 10, 2019, at 11:00 a.m., in Room 208, 300 Fayetteville Street,
Raleigh, NC 27602.
Dec. 3, 2019 is fixed as the last day for filing and serving
written objections to confirmation of the Plan.
Dec. 3, 2019 is fixed as the last day for filing written
acceptances or rejections of the Plan.
The Debtor has proposed a Plan of Reorganization that contemplates
the sale of real property assets in order to effectuate a payment
in full to all creditors. The Plan preserves property for the LLC
that need not be liquidated to pay all the debts of creditors.
Under the Plan, there is full payment to creditors. The Plan calls
for payment in full of all general unsecured claims on or before 5
years from the Effective Date of the Plan. The Plan calls for the
sole shareholder to maintain her equity interest in the Debtor.
The secured creditors will be paid in full upon the sale of the
Debtors' properties.
A copy of the Disclosure Statement is available at
https://is.gd/sIJ2Em from PacerMonitor.com at no charge.
About One BlueSky Investments
One BlueSky Investments, LLC, was founded by Sainte Robinson to
hold and develop real estate, both residential and commercial,
throughout the Southeast. It owns 17 different properties, some
with multiple parcels.
One BlueSky Investments sought Chapter 11 protection (Bankr.
E.D.N.C. Case No. 19-01439) on April 1, 2019. The Debtor was
estimated to have assets of $1 million to $10 million and
liabilities of $500,000 to $1 million as of the bankruptcy filing.
The Hon. Stephani W. Humrickhouse is the case judge. J.M. COOK,
P.A., is the Debtor's counsel.
ORCHIDS PAPER: Committee Says Releases Make Plan Unconfirmable
--------------------------------------------------------------
The Official Committee of Unsecured Creditors appointed in the
Chapter 11 cases filed objections to proposed conditional approval
of Orchids Paper Products Company, et al.'s Combined Plan and
Disclosure Statement.
According to the Committee, the Debtors' Combined Plan and
Disclosure Statement should not be conditionally approved, because
it provides for inequitable Solicitation Procedures, and is
patently unconfirmable given its non-consensual Third-Party
Releases, Exculpation of non-Estate fiduciaries, and unwarranted
Plan Injunction.
Prior to the Debtors' filing of their Combined Plan and Disclosure
Statement, the Committee and the Debtors worked to resolve issues
related to the Debtors' proposed Combined Disclosure Statement and
Plan. The Committee provided substantial comments to the Debtors'
proposed Combined Plan and Disclosure Statement, many of which were
incorporated by the Debtors. While the parties were able to make
some progress on resolving Committee's initial issues with the
Debtors' Combined Plan and Disclosure Statement, a number of
deficiencies remain.
First and foremost, according to the Committee, clear and
conspicuous language must be added to the Combined Plan and
Disclosure Statement informing creditors that the Committee: (i)
does not support the Plan; (ii) does not believe the proposed Plan
is fair or confirmable; and (iii) recommends that creditors vote
against the Combined Plan and Disclosure Statement. As set forth
below, the Committee requests that the Court direct the Debtors to
include in the Solicitation Package a letter from the Committee, to
convey the Committee's recommendation that creditors vote to reject
the Combined Plan and Disclosure Statement and opt out of the
Third-Party Release.
Three primary, unresolved issues remain between the Debtors and the
Committee. These three issues form the basis of this Objection:
(i) the Debtors' proposed "opt out" provision -- in the
Solicitation Package's form Ballots -– related to the Third-Party
Release, are completely inappropriate, as made clear by this
Court's jurisprudence;
(ii) the scope of the Debtors' non-consensual Third-Party Release
and Exculpation is unwarranted as related to Debtors' officers and
directors, whom have provided no contribution to the Plan and are,
essentially, being given an impermissible gift without any
justifiable explanation; and
(iii) the Debtors' Plan Injunction, if approved, would provide the
Debtors with a discharge on their obligations, which is contrary to
the letter and intent of Bankruptcy Code Sec. 1141(d)(3), and
renders the Combined Plan and Disclosure Statement unconfirmable.
While the latter two issues could be considered confirmation
issues, the Committee raises them now because of their impact on
conditional approval of the Debtors' Combined Plan and Disclosure
Statement, and on the Debtors' proposed Solicitation Package
including the proposed form of Ballots.
Furthermore, the Committee joins in the objections filed by the
Securities and Exchange Commission and U.S. Trustee.
Counsel for the Official Committee of Unsecured Creditors:
Marc J. Phillips
MONTGOMERY McCRACKEN WALKER & RHOADS LLP
105 North Market Street, Suite 1500
Wilmington, DE 19801
Telephone: (302) 504-7823
E-mail: mphillips@mmwr.com
- and -
LOWENSTEIN SANDLER LLP
Kenneth A. Rosen
Mary E. Seymour
Bruce Buechler
One Lowenstein Drive
Roseland, New Jersey 07068
Telephone: (973) 597-2500
E-mail: krosen@lowenstein.com
mseymour@lowenstein.com
bbuechler@lowenstien.com
jdipasquale@lowenstein.com
- and -
Jennifer Kimble
Gabriel L. Olivera
1251 Avenue of the Americas
New York, New York
Telephone: (212) 262-6700
Facsimile: (212) 262-7402
E-mail: jkimble@lowenstein.com
golivera@lowenestein.com
About Orchids Paper Company
Headquartered in Pryor, Oklahoma, Orchids Paper Products Company --
http://www.orchidspaper.com/-- is a national supplier of consumer
tissue products primarily serving the at home private label
consumer market. The Company produces a full line of tissue
products, including paper towels, bathroom tissue and paper
napkins, to serve the value through ultra-premium quality market
segments from its operations in northeast Oklahoma, Barnwell, South
Carolina and Mexicali, Mexico. The Company provides these products
primarily to retail chains throughout the United States.
As of Feb. 28, 2019, the Debtors posted total assets $322,061,000
and total debt of $260,864,000.
Orchids Paper Products Company and two of its subsidiaries filed
for bankruptcy protection (Bankr. D. Del., Lead Case No. 19-10729)
on April 1, 2019. The petitions were signed by Richard S.
Infantino, interim chief strategy officer.
Hon. Mary F. Walrath oversees the cases.
The Debtors tapped Polsinelli PC as counsel; Deloitte Transactions
And Business Analytics LLP as chief strategy officer; Houlihan
Lokey Capital, Inc., as investment banker; and Prime Clerk LLC as
claims and notice agent.
Andrew Vara, acting U.S. trustee for Region 3, on April 15, 2019,
appointed five creditors to serve on the official committee of
unsecured creditors in the Chapter 11 cases of Orchids Paper
Products Company and its affiliates. The Committee retained
Lowenstein Sandler LLP, as counsel; and CKR Law LLP as its Delaware
counsel.
PALMER EQUIPMENT: Seeks to Extend Exclusivity Period to Jan. 31
---------------------------------------------------------------
Palmer Equipment LLC asked the U.S. Bankruptcy Court for the
District of Utah to extend the period during which only the company
can file a Chapter 11 plan to Jan. 31, 2020, and the period to
solicit acceptances for the plan to April 30, 2020.
About Palmer Equipment LLC
Palmer Equipment LLC -- https://www.balewagons.com/ -- is a
manufacturer of agricultural equipment. The Company also provides
equipment repair, annual maintenance, equipment restoration, and
equipment upgrades services.
Palmer Equipment sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Utah Case No. 19-24265) on June 11,
2019. In the petition signed by its managing partner, Ryan Palmer,
the Debtor estimated assets and debts of less than $10 million
each.
Judge William T. Thurman is assigned to the case.
The Debtor is represented by Brian D. Johnson, Esq. at Brian D.
Johnson P.C. as lead bankruptcy counsel and Roger A. Kraft, Esq. at
Roger A. Kraft Attorney at Law, P.C., as co-counsel.
The U.S Trustee appointed a committee of unsecured creditors on
July 26, 2019. The committee is represented by the Law Firm of
Fabian VanCott.
PALMETTO CONSTRUCTION: Taps Geist Law, Congeni as Legal Counsel
---------------------------------------------------------------
Palmetto Construction Services, LLC filed anew an application to
hire Congeni Law Firm, LLC and Geist Law, LLC as its legal
counsel.
Geist Law will serve as primary bankruptcy counsel while Congeni
will be mainly responsible for the preparation and defense of the
Debtor's plan of reorganization. Congeni will also provide legal
services with respect to bankruptcy-related litigation, according
to the Debtor's application filed with the U.S. Bankruptcy Court
for the District of New Jersey.
The bankruptcy court had previously denied the Debtor's initial
applications to employ the firms in connection with its Chapter 11
case.
The firms will each be paid a retainer in the amount of $5,000.
This retainer will be paid by Mendy Properties, LLC, a company
owned by creditor Edward Mendy.
Both firms are "disinterested" within the meaning of Section
101(14) of the Bankruptcy Code, according to court filings.
Geist Law can be reached through:
Jared A. Geist, Esq.
Geist Law, LLC
25 Main St., Suite 203
Hackensack, NJ 07601
Tel: (201) 870-1488
Fax: (201) 812 9659
Email: jared@geistlegal.com
Congeni 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. The case is
assigned to Judge Vincent F. Papalia.
PARKINSON SEED: Creditor's Plan Contemplates Orderly Sale of Assets
-------------------------------------------------------------------
SummitBridge National Investments VI LLC filed a Chapter 11 Plan of
Liquidation dated Oct. 11, 2019, in the Chapter 11 case of
Parkinson Seed Farm, Inc.
According to the Debtors business records, for the last 10 years,
beginning in 2010 through to 2019, the Debtor has had a negative
net income. In fact, during this 10-year period, the Debtor's
records show more than $15 million of losses during this time.
Given the inability of the Debtor to operate profitably, and given
that the Debtor has amassed over $35,000,000 of unpaid debts,
SummitBridge believes an orderly sale of assets is the best means
to resolve the Debtor's liabilities.
The Creditor Plan provides that the real property, personal
property, and all other assets of the Debtor on the Effective Date
will be transferred to the Reorganized Debtor pursuant to and in
accordance with the Creditor Plan. The Creditor Plan will be
implemented by the appointment of a Plan Administrator of the
Reorganized Debtor, who shall be the sole director of the
Reorganized Debtor and the sole officer. The Plan Administrator
will be charged with the orderly sale of all real property,
equipment, crops, and any property of the Debtor vested in the
Reorganized Debtor, first by private sale and then by auction if
required. Funds from the sale of the assets will be distributed to
creditors with claims.
The Creditor Plan provides that:
* Class 2 – Secured Claims of SummitBridge. IMPAIRED. Class 2
consists of the Secured Claim held by SummitBridge in the amount of
$19,747,854.77. The Allowed Class 2 Secured Claim held by
SummitBridge shall be paid from the proceeds of the sale of the
Downey Cellar, the Home Place, equipment and other Assets of the
Reorganized Debtor.
* Class 3 – Secured Claim of Compeer. IMPAIRED. Class 3
consists of the Secured Claim in the amount of $11,966,154.64. The
Allowed Class 3 Secured Claim held by Compeer shall be paid from
the proceeds of the sale of the Downey Property and the Home
Place.
* Class 4 – Secured Claim of First National. IMPAIRED. Class 4
consists of the Secured Claim in the amount of $143,593.87. The
Allowed Class 4 Secured Claim held by First National shall be paid
from the proceeds of the sale of the May Farm.
* Class 5 – Secured Claim of Steinman. IMPAIRED. Class 5
consists of the Secured Claim held by Steinman in the amount of
$45,000. The Allowed Class 5 Secured Claim held by Steinman shall
be paid from the proceeds of the sale of the Steinman Dry Farm.
* Class 6 – Secured Claim of Toyota. IMPAIRED. The Plan
Administrator shall continue to make monthly payments due to Toyota
under the loan documents for the Toyota Collateral.
* Class 7 – Secured Claim of John Deere. IMPAIRED. The Class 7
Secured Claim shall be paid by the Plan Administrator pursuant to
the “Stipulation for the Treatment of Claims and the "Stipulation
for the Assumption and Rejection of Equipment Leases Under 11
U.S.C. Section 365(d)(2)".
* Class 8 – Unsecured Claim of Diversified. IMPAIRED. The
Class 8 Unsecured Claim held by Diversified shall be treated
according to the June 3, 2019, stipulation between Diversified and
the Debtor , pursuant to which the Debtor agreed to immediately
surrender possession of the Diversified Collateral and Diversified
agreed to sell the Diversified Collateral in a commercially
reasonable manner and apply the sale proceeds to sums due and owing
to Diversified.
* Class 9 – General Unsecured Claims. IMPAIRED. Each Holder of
a General Unsecured Claim shall be treated as a Class 9 Claim and
shall receive its Pro Rata share of all cash available for
distribution by the Plan Administrator up to the full amount of
each Allowed Class 9 Claim.
* Class 10 – Equity Interests in the Debtor. IMPAIRED. The
Holders of Class 10 Equity Interests shall be entitled to receive
all funds remaining after satisfaction in full of the Liquidation
Expenses.
Funds from the sale of the assets will be distributed to creditors
with Allowed Claims.
A full-text copy of the Disclosure Statement dated Oct. 11, 2019,
is available at https://tinyurl.com/yxs378l2 from PacerMonitor.com
at no charge.
Attorneys for SUMMITBRIDGE NATIONAL INVESTMENTS VI LLC:
James T. Markus
Markus Williams Young & Hunsicker LLC
1700 Lincoln, Suite 4550
Denver, Colorado 80203
Telephone: (303) 830-0800
Facsimile: (303) 830-0809
E-mail: jmarkus@MarkusWilliams.com
Jason R. Naess
Parsons, Smith, Stone,
Loveland & Shirley, L.L.P
137 W. 13th St.
P.O. Box 910
Burley, Idaho 83318
Telephone (208) 878-8382
Facsimile (208) 878-0146
E-mail: jason@pmt.org
About Parkinson Seed Farm
Located in Saint Anthony, Idaho, Parkinson Seed Farm Inc. --
http://www.parkinsonseedfarm.com/-- farms 7,200 acres of potatoes.
It raises seed potatoes, hard red and hard white wheat, as well as
a small amount of alfalfa (mostly to feed horses for recreational
purposes). The company raises 11 of what it considers to be more
mainstream varieties such as the Russet Burbank, Ranger, three
different line selections of Russet Norkotah, white varieties such
as Cal Whites and Atlantics, and reds like the Dark Red Norland.
The company was founded in 1937.
Parkinson Seed Farm sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. Idaho Case No. 18-40412) on May 15,
2018. In the petition signed by Dirk Parkinson, president, the
Debtor disclosed $6.11 million in assets and $26.92 million in
liabilities.
Judge Joseph M. Meier oversees the case.
The Debtor hired Robinson & Associates as its legal counsel.
PETROSHARE CORP: Taps Gordian Group as Investment Banker
--------------------------------------------------------
PetroShare Corp. and CFW Resources, LLC, received approval from the
U.S. Bankruptcy Court for the District of Colorado to hire Gordian
Group, LLC as their investment banker.
The firm will provide these services in connection with the
Debtors' Chapter 11 cases:
(a) advise the Debtors regarding the general formulation and
evaluation of various options for effecting a financial
transaction;
(b) advise the Debtors regarding any potential restructuring,
amendment, extension, conversion, exchange, compromise, repayment,
retirement, assumption, refinancing or other modification or
satisfaction of the Debtors' indebtedness or obligations;
Case
(c) assist the Debtors in raising new or replacement debt and
equity capital (or other investment or financing);
(d) advise the Debtors regarding any potential merger or sale
of the companies or their securities, assets and businesses;
(e) assist in preparing for review and approval by the Debtors
proposals to creditors, equity holders and other
parties-in-interest in connection with any possible financial
transaction;
(f) assist in the structuring and implementation of any
financial transaction; and
(g) assist the Debtors in making presentations to their Board
of Directors regarding any potential financial transaction, its
participating parties and other related financial issues.
Gordian Group will be paid a monthly fee of $20,000, payable in
advance on the monthly anniversary of the date of the employment.
All paid monthly fees in excess of $60,000 in the aggregate will be
credited against any subsequent transaction fees. Transaction fees
consist of:
a. Cash fees equal to the greater of (i) $560,000 less any
credit, or (ii) 3 percent of the aggregate consideration; plus
b. In the event the financial transaction is a plan of
reorganization, in-kind fees equal to 7 percent of the equity of
the reorganized Debtors as determined under such court-approved
plan.
Peter Kaufman, president of Gordian Group, disclosed in court
filings that the firm is "disinterested" within the meaning of
Section 101(14) of the Bankruptcy Code.
Gordian Group can be reached through:
Peter S. Kaufman
Gordian Group, LLC
950 Third Avenue
New York, NY 10022
Phone: 212.486.3600 x110
E-mail: psk@gordiangroup.com
About Petroshare Corp.
Colorado-based PetroShare Corp. (OTCQB:PRHR) --
http://www.petrosharecorp.com/-- investigates, acquires, and
develops crude oil and natural gas properties in the Rocky Mountain
or mid-continent portion of the United States, specifically focused
in the Denver-Julesburg Basin in northeast Colorado.
On Sept. 4, 2019, PetroShare Corp. and affiliate CFW Resources LLC
sought Chapter 11 protection (Bankr. D. Colo. Lead Case No.
19-17633).
As of June 30, 2019, PetroShare Corp. disclosed $36,927,856 in
assets and $45,100,988 in liabilities.
The Debtors tapped Polsinelli PC as legal counsel; BMC Group, Inc.
as claims and noticing agent; Gordian Group, LLC as investment
banker; and MACCO Restructuring Group LLC as financial advisor.
Mr. Drew McManigle from MACCO has been retained by the Debtors as
chief restructuring officer.
PG&E CORPORATION: Gibson Dunn Represents Trade Committee
--------------------------------------------------------
Pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure,
the law firm of Gibson, Dunn & Crutcher LLP submitted a verified
statement to disclose that it is representing the Ad Hoc Trade
Committee in the Chapter 11 cases of PG&E Corporation and Pacific
Gas and Electric Company.
On or around Oct. 4, 2019, the Ad Hoc Trade Committee engaged
Gibson, Dunn & Crutcher LLP to represent it in connection with the
Debtors' restructuring.
The claims held by the members of the Ad Hoc Trade Committee
include, but are not limited to, trade and contract claims against
Utility. Certain members of the Ad Hoc Trade Committee hold claims
and/or interests of the Debtors that do not constitute Trade
Claims, and which are not being represented by the Ad Hoc Trade
Committee.
As of Oct. 16, 2019, members of the Ad Hoc Committee and their
disclosable economic interests are:
(1) Whitebox Advisors LLC
3033 Excelsior Blvd.
Minneapolis, MN 55416
* Trade Claims: $73,180,443.00
* Mechanics' Lien Claims: $11,265,560.00
* Senior Notes: $2,500,000.00
* DIP Obligations: $1,500,000.00
(2) Olympus Peak Asset Management
745 Fifth Avenue, Suite 1604
New York, NY 10151
* Trade Claims: $74,345,080.00
* Utility L/C Reimbursement: $25,000,000.00
(3) Marble Ridge Capital
1250 Broadway, Suite 2601
New York, NY 10001
* Trade Claims: $51,803,006.00
* Holdco Revolver Loans: $21,600,000.00
* Utility L/C Reimbursement: $20,000,000.00
(4) Citigroup Financial Products, Inc.
Citigroup Global Markets Inc.
390 Greenwich St., 6th Floor
New York, NY 10013
* Trade Claims: $38,000,000.00
* Mechanics' Lien Claims: $16,000,000.00
* Utility Revolver Loans: $49,281,015.00
* Senior Notes: $23,360,000.00
* Holdco Revolver Loans: $10,000,000.00
* Wildfire Subrogation Claims: $30,804,004.00
Counsel for the Ad Hoc Committee of Holders of Trade Claims can be
reached at:
GIBSON, DUNN & CRUTCHER LLP
David M. Feldman, Esq.
Matthew K. Kelsey, Esq.
200 Park Avenue
New York, NY 10166-0193
Telephone: (212) 351-4000
Facsimile: (212) 351-4035
E-mail: dfeldman@gibsondunn.com
mkelsey@gibsondunn.com
- and -
Michael S. Neumeister, Esq.
Michelle Choi, Esq.
333 South Grand Avenue
Los Angeles, CA 90071-3197
Telephone: (213) 229-7000
Facsimile: (213) 229-7520
E-mail: mneumeister@gibsondunn.com
mchoi@gibsondunn.com
A copy of the Rule 2019 filing, downloaded from PacerMonitor.com,
is available at https://is.gd/fqFYhc
About PG&E Corporation
PG&E Corporation (NYSE: PCG) -- http://www.pgecorp.com/-- is a
Fortune 200 energy-based holding company, headquartered in San
Francisco. It is the parent company of Pacific Gas and Electric
Company, an energy company that serves 16 million Californians
across a 70,000-square-mile service area in Northern and Central
California.
As of Sept. 30, 2018, the Debtors, on a consolidated basis, had
reported $71.4 billion in assets on a book value basis and $51.7
billion in liabilities on a book value basis.
PG&E Corp. and Pacific Gas employ approximately 24,000 regular
employees, approximately 20 of whom are employed by PG&E Corp. Of
Pacific Gas' regular employees, approximately 15,000 are covered by
collective bargaining agreements with local chapters of three labor
unions: (i) the International Brotherhood of Electrical Workers;
(ii) the Engineers and Scientists of California; and (iii) the
Service Employees International Union.
On Jan. 29, 2019, PG&E Corp. and its primary operating subsidiary,
Pacific Gas and Electric Company, filed voluntary Chapter 11
petitions (Bankr. N.D. Cal. Lead Case No. 19-30088).
PG&E Corporation and its regulated utility subsidiary, Pacific Gas
and Electric Company, said they are facing extraordinary challenges
relating to a series of catastrophic wildfires that occurred in
Northern California in 2017 and 2018. The utility said it faces an
estimated $30 billion in potential liability damages from
California's deadliest wildfires of 2017 and 2018.
Weil, Gotshal & Manges LLP and Cravath, Swaine & Moore LLP are
serving as PG&E's legal counsel, Lazard is serving as its
investment banker and AlixPartners, LLP is serving as the
restructuring advisor to PG&E. Prime Clerk LLC is the claims and
noticing agent.
In order to help support the Company through the reorganization
process, PG&E has appointed James A. Mesterharm, a managing
director at AlixPartners, LLP, and an authorized representative of
AP Services, LLC, to serve as Chief Restructuring Officer. In
addition, PG&E appointed John Boken also a Managing Director at
AlixPartners and an authorized representative of APS, to serve as
Deputy Chief Restructuring Officer. Mr. Mesterharm, Mr. Boken and
their colleagues at AlixPartners will continue to assist PG&E with
the reorganization process and related activities. Morrison &
Foerster LLP, as special regulatory counsel.
The Office of the U.S. Trustee appointed an official committee of
creditors on Feb. 12, 2019. The Committee retained Milbank LLP as
counsel; FTI Consulting, Inc., as financial advisor; Centerview
Partners LLC as investment banker; and Epiq Corporate
Restructuring, LLC as claims and noticing agent.
On Feb. 15, 2019, the U.S. trustee appointed an official committee
of tort claimants. The tort claimants' committee is represented by
Baker & Hostetler LLP.
PURDUE PHARMA: Pillsbury Winthrop Represents Non-Consenting States
------------------------------------------------------------------
Pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure,
the law firm of Pillsbury Winthrop Shaw Pittman LLP submitted a
verified statement to disclose that it is representing the Ad Hoc
Group of Non-Consenting States in the Chapter 11 cases of Purdue
Pharma L.P., et al.
In September 2019, Pillsbury Winthrop Shaw Pittman LLP provided
limited preliminary advice to several members of the Ad Hoc Group
regarding various bankruptcy-related issues involving the potential
settlement of various states' claims against Purdue Pharma L.P. and
its affiliates and members of the Sackler family.
On September 15, 2019, the Debtors filed these chapter 11 cases.
The states that did not reach pre-petition agreement with the
Debtors and the Sacklers about the general contours of a potential
chapter 11 plan decided that it was in their collective and
strategic interests to form an informal group of states.
In October 2019, the Ad Hoc Group entered into an agreement for
Pillsbury to represent it in connection with the Debtors' chapter
11 cases from before the commencement of these cases.
Pillsbury represents only the Ad Hoc Group. Pillsbury does not
represent or purport to represent any other entities or states in
connection with these chapter 11 cases. Pillsbury does not
represent the Ad Hoc Group as a "committee" and does not undertake
to represent the interests of, and is not a fiduciary for, any
creditor, party in interest, or other entity that has not signed a
retention agreement with Pillsbury. In addition, the Ad Hoc Group
does not represent or purport to represent any other entities in
connection with the Debtors' chapter 11 cases.
As of Oct. 11, 2019, members of the Ad Hoc Group and their
disclosable economic interests are:
(1) California
California Department of Justice
Office of the Attorney General
300 South Spring Street, Suite 1702
Los Angeles, CA 90013
Attn: Bernard A. Eskandari
* Unsecured; Unliquidated Claim; Police Power Actions
(2) Colorado
Colorado Department of Law
Ralph L. Carr Colorado Judicial Ctr.
1300 Broadway, 10th Floor
Denver, CO 80203
Attn: Megan Paris Rundlet
* Unsecured; Unliquidated Claim; Police Power Actions
(3) Connecticut
Connecticut Office of the Attorney General
55 Elm Street, P.O. Box 120
Hartford, CT 06106
Attn: Kimberly Massicotte
* Unsecured; Unliquidated Claim; Police Power Actions
(4) Delaware
Delaware Office of the Attorney General
Carvel State Building
820 N. French Street
Wilmington, DE 10801-3536
Attn: Marion Quirk
* Unsecured; Unliquidated Claim; Police Power Actions
(5) District of Columbia
Office of the Attorney General
for the District of Columbia
441 4th Street, NW
Washington, DC 20001
Attn: Kathleen Konopka
* Unsecured; Unliquidated Claim; Police Power Actions
(6) Hawaii
Hawaii Office of the Attorney General
425 Queen Street
Honolulu, HI 96813
Attn: Clare E. Connors
* Unsecured; Unliquidated Claim; Police Power Actions
(7) Idaho
Office of the Idaho Attorney General
954 W. Jefferson Street, 2nd floor
P.O. Box 83720
Boise, ID 83720-0010
Attn: Brett T. DeLange
* Unsecured; Unliquidated Claim; Police Power Actions
(8) Illinois
Office of the Attorney General
State of Illinois
100 W. Randolph Street
Chicago, IL 60601
Attn: Susan N. Ellis
* Unsecured; Unliquidated Claim; Police Power Actions
(9) Iowa
Iowa Department of Justice
Office of the Attorney General
Hoover Building, 2nd Floor
1305 East Walnut
Des Moines, IA 50319
Attn: William R. Pearson
* Unsecured; Unliquidated Claim; Police Power Actions
(10) Maine
Office of the Maine Attorney General
111 Sewall Street
Augusta, ME 04330
Attn: Linda J. Conti
* Unsecured; Unliquidated Claim; Police Power Actions
(11) Maryland
Office of the Attorney General of Maryland
200 St. Paul Place
Baltimore, MD 21202
Attn: Brian T. Edmunds
* Unsecured; Unliquidated Claim; Police Power Actions
(12) Massachusetts
Office of the Massachusetts Attorney General
One Ashburton Place
Boston, MA 02108-1598
Attn: Sydenham B. Alexander III
* Unsecured; Unliquidated Claim; Police Power Actions
(13) Minnesota
Office of the Minnesota Attorney General
445 Minnesota Street, Suite 1400
St. Paul, MN 55101-2131
Attn: Wendy S. Tien
* Unsecured; Unliquidated Claim; Police Power Actions
(14) New Hampshire
New Hampshire Department of Justice
33 Capitol Street
Concord, NH 03301
Attn: James T. Boffetti
* Unsecured; Unliquidated Claim; Police Power Actions
(15) New Jersey
Office of the New Jersey Attorney General
124 Halsey Street, 5th Floor
P.O. Box 45029-5029
Newark, NJ 07101
Attn: Lara J. Fogel
* Unsecured; Unliquidated Claim; Police Power Actions
(16) New York
New York State
Office of the Attorney General
28 Liberty Street
New York, NY 10005
Attn: David E. Nachman
* Unsecured; Unliquidated Claim; Police Power Actions
(17) Nevada
State of Nevada, Office of the Attorney General
100 N. Carson Street
Carson City, Nevada 89701
Attn: Mark J. Krueger
* Unsecured; Unliquidated Claim; Police Power Actions
(18) North Carolina
Waldrep LLP
101 S. Stratford Road, Suite 210
Winston-Salem, NC 27104
Attn: Thomas W. Waldrep, Jr.
* Unsecured; Unliquidated Claim; Police Power Actions
(19) Oregon
Oregon Department of Justice
100 SW Market Street
Portland, OR 97201
Attn: Brian A. de Haan
* Unsecured; Unliquidated Claim; Police Power Actions
(20) Pennsylvania
Pennsylvania Office of the Attorney General
Strawberry Square, 15th Floor
Harrisburg, PA 17120
Attn: Melissa L. Van Eck
* Unsecured; Unliquidated Claim; Police Power Actions
(21) Rhode Island
Rhode Island Office of the Attorney General
150 South Main Street
Providence, RI 02903
Attn: Neil F.X. Kelly
* Unsecured; Unliquidated Claim; Police Power Actions
(22) Vermont
Vermont Attorney General's Office
109 State Street
Montpelier, VT 05403
Attn: Jill S. Abrams
* Unsecured; Unliquidated Claim; Police Power Actions
(23) Virginia
Virginia Office of the Attorney General
202 North 9th Street
Richmond, VA 23219
Attn: Thomas M. Beshere
* Unsecured; Unliquidated Claim; Police Power Actions
(24) Washington
Washington Attorney General's Office
800 Fifth Avenue, Suite 2000
Seattle, WA 98104
Attn: Laura K. Clinton
* Unsecured; Unliquidated Claim; Police Power Actions
(25) Wisconsin
Wisconsin Department of Justice
Office of the Attorney General
P.O. Box 7857
Madison, WI 53707-7857
Attn: S. Mike Murphy
* Unsecured; Unliquidated Claim; Police Power Actions
Counsel to the Ad Hoc Group of Non-Consenting States can be reached
at:
PILLSBURY WINTHROP SHAW PITTMAN LLP
Andrew M. Troop, Esq.
Andrew V. Alfano, Esq.
31 West 52nd Street
New York, NY 10019
Telephone: (212) 858-1000
E-mail: andrew.troop@pillsburylaw.com
andrew.alfano@pillsburylaw.com
- and -
Jason S. Sharp, Esq.
2 Houston Center
909 Fannin, Suite 2000
Houston, TX 77010
Telephone: (713) 276-7600
E-mail: jason.sharp@pillsburylaw.com
A copy of the Rule 2019 filing, downloaded from PacerMonitor.com,
is available at https://is.gd/DUxkX5 and https://is.gd/jL50KJ
About Purdue Pharma
Purdue Pharma L.P. and its subsidiaries --
http://www.purduepharma.com/-- develop and provide prescription
medicines and consumer products that meet the evolving needs of
healthcare professionals, patients, consumers and caregivers.
Purdue's subsidiaries include Adlon Therapeutics L.P., focused on
treatment for Attention-Deficit/Hyperactivity Disorder (ADHD) and
related disorders; Avrio Health L.P., a consumer health products
company that champions an improved quality of life for people in
the United States through the reimagining of innovative product
solutions; Imbrium Therapeutics L.P., established to further
advance the emerging portfolio and develop the pipeline in the
areas of CNS, non-opioid pain medicines, and select oncology
through internal research, strategic collaborations and
partnerships; and Greenfield Bioventures L.P., an investment
vehicle focused on value-inflection in early stages of clinical
development.
Opioid makers in the U.S. are facing pressure from a crackdown on
the addictive drug in the wake of the opioid crisis and as state
attorneys general file lawsuits against manufacturers. More than
2,000 states, counties, municipalities and Native American
governments have sued Purdue Pharma and other pharmaceutical
companies for their role in the opioid crisis in the U.S., which
has contributed to the more than 700,000 drug overdose deaths in
the U.S. since 1999.
OxyContin, Purdue Pharma's most prominent pain medication, has been
the target of over 2,600 civil actions pending in various state and
federal courts and other fora across the United States and its
territories.
On Sept. 15 and 16, 2019, Purdue Pharma L.P. and 23 affiliated
debtors each filed a voluntary petition for relief under Chapter 11
of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No.
19-23649), after reaching terms of a preliminary agreement for
settling the massive opioid litigation facing the Company.
The Company's consolidated balance sheet at Aug. 31, 2019, showed
$1.972 billion in assets and $562 million in liabilities.
U.S. Bankruptcy Judge Robert Drain, in White Plains, New York, has
been assigned to oversee Purdue's Chapter 11 case.
The Debtors tapped Davis Polk & Wardwell LLP and Dechert LLP as
legal counsel; PJT Partners as investment banker; AlixPartners as
financial advisor; and Prime Clerk LLC as claims agent.
Ira Dizengoff, Esq., Arik Preis, Esq., and Mitchell Hurley, Esq.,
at Akin Gump Strauss Hauer & Feld LLP serve as counsel to the
Official Committee of Unsecured Creditors.
Pillsbury Winthrop Shaw Pittman LLP, led by Andrew M. Troop,
represents the Non-Consenting States.
Bracewell LLP, led by Daniel S. Connolly and Robert G. Burns; and
Milbank LLP, led by Gerard Uzzi and Eric K. Stodola, represent the
Raymond Sackler family, comprised of Dr. Richard Sackler, Jonathan
Sackler, David Sackler, and Beverly Sackler.
Scott+Scott Attorneys at Law LLP, led by Beth A. Kaswan, is counsel
to the Municipality Consortium. Caplin & Drysdale, Chartered, led
by Kevin C. Maclay, James P. Wehner, Jeffrey A. Liesemer, and Todd
E. Phillips, is counsel to the Multi-State Governmental Entities
Group.
RL BROOKS TRUCKING: U.S. Trustee Unable to Appoint Committee
------------------------------------------------------------
The Office of the U.S. Trustee on Oct. 17, 2019, disclosed in a
court filing that no official committee of unsecured creditors has
been appointed in the Chapter 11 case of RL Brooks Trucking, LLC.
About RL Brooks Trucking
RL Brooks Trucking, LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. Pa. Case No. 19-70617) on Oct. 2,
2019. At the time of the filing, the Debtor disclosed assets of
between $1 million and $10 million and liabilities of the same
range. The case is assigned to Judge Jeffery A. Deller. Kevin J.
Petak, Esq., at Spence, Custer, Saylor, Wolfe & Rose, LLC, is the
Debtor's legal counsel.
SAAD MARKETING: Bankr. Administrator Unable to Appoint Committee
----------------------------------------------------------------
The U.S. bankruptcy administrator on Oct. 18, 2019, disclosed in a
filing with the U.S. Bankruptcy Court for the Southern District of
Alabama that no official committee of unsecured creditors has been
appointed in the Chapter 11 case of Saad Marketing, Inc.
About Saad Marketing
Saad Marketing, Inc. sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Ala. Case No. 19-13159) on Sept. 10,
2019. At the time of the filing, the Debtor disclosed assets of
between $100,001 and $500,000 and liabilities of the same range.
The case is assigned to Judge Jerry C. Oldshue. The Debtor is
represented by Robert M. Galloway, Esq., at Galloway Wettermark
Everest & Rutens, LLP.
SIMPLY GOOD: S&P Affirms 'B+' ICR on Proposed Quest Acquisition
---------------------------------------------------------------
S&P Global Ratings affirmed its 'B+' issuer credit rating on The
Simply Good Foods Co. but lowered its issue-level rating on the
company's term loan and revolver to 'B+' from 'BB-'. It also
revised the recovery rating on the term loan to '3' from '2', given
the substantial increase in funded first-lien debt.
The rating actions came after Simply Good issued $350 million in
common equity and proposed a $460 million add-on to its first-lien
term loan B, which along with $230 million of cash, will be used to
fund its $1 billion acquisition of nutrition bar manufacturer,
Quest Nutrition LLC. The acquisition is expected to close by the
end of 2019.
Meanwhile, S&P removed the ratings from CreditWatch. The outlook is
negative, reflecting deterioration in the company's credit metrics
following the transformational acquisition of Quest, and the risk
that leverage could increase if EBITDA growth targets are not
achieved or if management faces integration issues.
Simply Good is adding $460 million of debt to fund the Quest
acquisition, which will increase leverage from 2.3x for the 12
months ended May, 2019, to more than 4.5x at close. This is the
first large, debt-funded acquisition since Simply Good Foods went
public two years ago. Management is assuming $50 million of EBITDA
from Quest in 2019, implying a 20x purchase multiple. Management
also forecasts that the combined company will achieve $26 million
of synergies by 2022. Quest's reported EBITDA for 2018 was about
$12 million. The expectation is that one-time costs associated with
plant closures from 2018 won't reoccur, and that additional EBITDA
growth will enable Quest to achieve the $50 million run-rate
EBITDA. S&P notes, however, that the company did not generate this
level of EBITDA in 2016 or 2017, although revenue did grow at a
high-single-digit percent rate in 2018. Given that Quest has only a
short history and this is Simply Good Food's first big acquisition,
S&P believes there could be additional costs that are incurred once
the businesses are combined. S&P thinks that although the
combination will operate with an asset-lite business model, the
rating agency could see increased integration risk because of
enterprise resource planning (ERP) implementation or slowing EBITDA
growth as Quest changes ownership.
The negative outlook reflects that S&P could lower the ratings over
the next 12 months if leverage exceeds 5x.
"We could lower the ratings if the combined company does not
achieve its expected EBITDA growth or integration issues lead to
leverage exceeding 5x. In addition, higher freight or commodity
costs, or higher marketing expenditures could weigh on EBITDA
margins and slow the company's pace of leverage reduction," S&P
said.
"We could revise the outlook to stable if the company meets our
base case scenario and leverage declines to less than 4.5x over the
next 12 months. While unlikely, we could consider raising the
rating if the company increases its scale and product diversity
while demonstrating a less aggressive financial policies, such that
we view event risk as a lesser concern," S&P said. Demonstration of
a quick deleveraging timeline post-acquisitions, with leverage
approaching 3x, could also result in a higher rating, according to
the rating agency.
STONE OAK MEMORY: Granted Interim OK to Use of Cash Collateral
--------------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Texas
authorized Stone Oak Memory Care, LLC, to use cash collateral on an
interim basis, pursuant to the budget.
As adequate protection, the Prepetition Lender is granted,
effective as of the Petition Date, valid, binding, enforceable, and
automatically perfected liens in all of the Debtor's property and
assets.
As additional partial adequate protection, to the extent of any
diminution in value and a failure of the other adequate protection
provided by the Interim Order, the Prepetition Lender will be
granted an allowed priority administrative expense claim.
Final hearing on the motion is set for Oct. 24, 2019 at 2 p.m.
Central Time. Objections must be filed by 5 p.m. Central Time on
Oct. 22, 2019.
About Stone Oak Memory Care
Stone Oak Memory Care, LLC, d/b/a Autumn Leaves of Stone Oak, owns
and operates an adult memory care facility in Dallas, Texas.
Stone Oak Memory Care sought Chapter 11 protection (Bankr. W.D.
Tex. Case No. 19-52375) on Sept. 30, 2019 in San Antonio, Texas.
The petition was signed by Darryl Freling, Pres. of MedProperties
Stone Oak Mgr, LL. On the Petition Date, the Debtor was estimated
to have $1 million to $10 million in assets and liabilities. Judge
Ronald B. King oversees the Debtor's case. The LAW OFFICES OF RAY
BATTAGLIA, PLLC, is counsel to the Debtor.
STURDIVANT TAYLOR: Asks Court to Allow Use of Cash Collateral
-------------------------------------------------------------
Sturdivant Taylor, LLC, seeks Court permission to use cash
collateral with respect to interests held by BankPlus in order to
pay all necessary operating expenses of the business, including
payments to BankPlus.
The Debtor owes BankPlus approximately $33,000, secured by liens on
the Debtor's real property and accounts receivable.
The Debtor seeks a final hearing on the cash collateral request in
order to be able to reorganize or restructure through the sale of
its assets.
About Sturdivant Taylor
Sturdivant Taylor, LLC is in the business of owning and leasing
real property located at 243 Yandell Road,Canton, Mississippi, with
a building located thereon leased to Building Blocks of Madison
Crossing Daycare and Learning Center, Inc. -- a Chapter 11 debtor
in case number 19- 03562, where it operates a daycare.
Sturdivant Taylor sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Miss. Case No. 19-03561) on Oct. 7,
2019. At the time of the filing, the Debtor disclosed assets under
$50,000 and liabilities under $1 million. The petition was signed
by Kristy Sturdivant, manager/member. Hood & Bolen, PLLC, serves
as the Debtor's counsel.
STURDIVANT TAYLOR: Seeks to Hire Hood & Bolen as Legal Counsel
--------------------------------------------------------------
Sturdivant Taylor, LLC, seeks approval from the U.S. Bankruptcy
Court for the Southern District of Mississippi to hire Hood &
Bolen, PLLC as its legal counsel.
The firm will advise the Debtor of its powers and duties under the
Bankruptcy Code and will provide other legal services in connection
with the Debtor's Chapter 11 case.
The firm's hourly rates are:
Partners $300
Associates $200
Senior Paralegals $125
Junior Paralegals $85
Hood & Bolen received a retainer of $2,500, which includes the
filing fee of $1,717.
The firm's attorneys do not represent any interest adverse to the
Debtor's bankruptcy estate, according to court filings.
Hood & Bolen can be reached through:
R. Michel Bolen , Esq.
Hood & Bolen, PLLC
3770 Highway 80 West
Jackson, MS 39209
Phone: (601)923-0788
E-mail: rmb@hoodbolen.com
About Sturdivant Taylor
Sturdivant Taylor, LLC, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Miss. Case No. 19-03561) on Oct. 7,
2019. At the time of the filing, the Debtor was estimated to have
assets under $50,000 and liabilities under $1 million. The
petition was signed by Kristy Sturdivant, manager and member. Hood
& Bolen, PLLC is the Debtor's counsel.
SUGARFINA INC: Oct. 22 Auction of Substantially All Assets Set
--------------------------------------------------------------
Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District
of Delaware authorized the bidding procedures of Sugarfina, Inc.
and affiliates in connection with the sale of substantially all
assets to Sugarfina Acquisition Corp. for $14 million, pursuant to
their Asset Purchase Agreement, dated Oct. 5, 2019, subject to
overbid.
The CCH APA is not in the best interests of the estates and is not
approved. The entry of the Order will constitute written notice of
the termination of the CCH APA pursuant to Section 8.1 (h)(ii)
thereof.
Sugarfina Acquisition is approved as the Stalking Horse Bidder, in
accordance with the terms of the Agreement.
The salient terms of the Bidding Procedures are:
a. Bid Deadline: Oct. 18, 2019 at 12:00 p.m. (ET)
b. Initial Bid: $14,625,000, which consists of (i) the cash
consideration set forth in the Agreement in the amount of $14
million, plus (ii) the amount of the Termination Fee plus (iv)
$125,000. The value of any noncash consideration will be
determined by the Debtors in their reasonable business judgment (in
consultation with the Consultation Parties)
c. Deposit: $500,000
d. Auction: If the Debtors receive one or more Qualified
Bids, other than the bid submitted by the Stalking Horse Bidder, by
the Bid Deadline, the Auction will take place on Oct. 22, 2019 at
10:00 a.m. (ET), at the offices of Morris James LLP, 500 Delaware
Avenue, Suite 1500, Wilmington, Delaware 19801-1494, or such other
place as the Debtors will notify all proposed attendees. The
Auction will be conducted in accordance with the Bidding
Procedures.
e. Bid Increments: $125,000
f. Sale Hearing: Oct. 24, 2019 at 10:30 a.m. (ET)
g. Sale Objection Deadline: Oct. 21, 2019 at 4:00 p.m. (ET)
If the Agreement is terminated such that the Stalking Horse Bidder
is entitled to the Termination Fee as described in Section 5.5 of
the Agreement, the Debtors will pay a break-up fee to the Stalking
Horse Bidder in an amount equal to $500,000, inclusive of the
actual, reasonable, and documented expenses of the Stalking Horse
Bidder incurred in connection with the negotiation, execution, and
preparation for the consummation of the transactions contemplated
in the Agreement. The Expense Reimbursement is payable on the
first Business Day following termination of the Agreement by each
Debtor from its bankruptcy estate (but paid only once) by wire
transfer of immediately available funds to the account specified by
the Stalking Horse Bidder to the Debtors in writing.
For purposes of any bid by the Stalking Horse Bidder, including any
Overbid, the Stalking Horse Bidder will be entitled to credit bid
up to the full amount of the Termination Fee. Any bidder,
including the Stalking Horse Bidder will have the right to credit
bid the full amount of the portion of the DIP Credit Facility that
it has funded, if any, and, notwithstanding anything in this
Bidding Procedures Order or the Bidding Procedures to the contrary,
(a) any credit bid or cash bid by the Stalking Horse Bidder will be
a Qualified Bid, and (b) the Stalking Horse Bidder will be a
Qualified Bidder.
Only SFCC Loan Investors, LLC and Goldman Sachs Specialty Lending
Group L.P., as holders of allowed secured claims arising under the
SFCC Facility and Goldman Sachs Facility will have the right to
credit bid such Secured Claims pursuant to Bankruptcy Code section
363(k), unless and until, prior to the Auction, the Committee will
have filed an objection to, or otherwise filed a standing motion
with regard to, or commenced an action seeking to challenge the
extent, validity or priority of any Secured Claim.
The Sale Notice is approved in its entirety. Two business days
after entry of the Bidding Procedures Order, the Debtors will cause
the Sale Notice and the Bidding Procedures Order to all Sale Notice
Parties.
No later than five business days after entry of the Bidding
Procedures Order, the Debtors will cause substantially all of the
information contained in the Sale Notice to be published once in a
publication of national circulation.
The Cure Notice is approved in its entirety. On Oct. 9, 2019, or
as soon thereafter as is reasonably practicable, the Debtors will
serve by first class mail or hand delivery the Cure Notice on all
non-Debtor parties to the Contract Counterparties and their counsel
if known.
No later than Oct. 11, 2019, the Stalking Horse Bidder will provide
the Debtors with information regarding adequate assurance of future
performance for Contract Counterparties if the Stalking Horse
Bidder is the assignee of the Scheduled Contracts, and, no later
than the Bid Deadline, the Debtors will receive information
regarding adequate assurance of future performance from Qualified
Bidders (other than the Stalking Horse Bidder) if such Qualified
Bidder proposes to be assigned certain Scheduled Contracts.
Upon receiving the Adequate Assurance Information, and no later
than 5:00 p.m. (ET) on Oct. 11, 2019 for the Stalking Horse Bidder
and 5:00 p.m. (ET) Oct. 18, 2019 for Qualified Bidders, the Debtors
will provide electronic copies of the Adequate Assurance
Information to the contract counterparties (and to their counsel if
known) listed as to be assigned by a Qualified Bidder's Scheduled
Contracts list.
Notwithstanding the possible applicability of Bankruptcy Rules
6004(h), 6006(d), 7062, or 9014, or any other provisions of the
Bankruptcy Rules or the Local Rules stating the contrary, the terms
and conditions of the Bidding Procedures Order will be immediately
effective and enforceable upon its entry, and no automatic stay
will apply to the Bidding Procedures Order.
All time periods set forth in the Bidding Procedures Order will be
calculated in accordance with Bankruptcy Rule 9006(a).
A copy of the Bidding Procedures attached to the Motion is
available for free at:
http://bankrupt.com/misc/Sugarfina_Inc_268_Order.PDF
About Sugarfina Inc.
Sugarfina Inc. -- https://www.sugarfina.com/ -- operates an
"omnichannel" business, involving design, assembly, marketing, and
sale of confectionary items through a retail fleet of 44 "Candy
Boutiques", including 11 "shop in shops" within Nordstrom's
department stores, a wholesale channel, e-commerce, international
franchise, and a corporate/custom channel. Its offerings are
sourced from the finest candy makers in the world and include such
iconic varieties as Champagne Bears, Peach Bellini, Sugar Lips,
Green Juice Bears, and Cold Brew Bears. The Debtors employ 335
people, including 71 individuals at the Company's headquarters in
El Segundo, Calif.
Sugarfina, Inc., and two affiliates sought Chapter 11 protection
(Bankr. D. Del. Lead Case No.19-11973) on Sept. 6, 2019.
Sugarfina was estimated to have $10 million to $50 million in
assets and liabilities as of the bankruptcy filing.
The Hon. Mary F. Walrath is the case judge.
The Debtors tapped Morris James LLP as counsel, and Force Ten
Partners, LLC as financial advisor. BMC Group Inc. is the claims
agent.
Andrew Vara, acting U.S. trustee for Region 3, on Sept. 17, 2019,
appointed seven creditors to serve on the official committee of
unsecured creditors in the Chapter 11 cases.
TEMPLE 2358: Unsecured Creditors to Recover 70% Under Plan
----------------------------------------------------------
Small business chapter 11 case Temple 2358 North 12th Street, LLC,
filed a proposed plan of reorganization that intends to restructure
the interest-only loan into an amortized loan, and discharge a debt
owed to a contractor who walked off the job before completed the
agreed upon work.
According to the Disclosure Statement, the Plan provides that:
* Secured claim of Dominion with a total claim of $60,000. The
claim is impaired. Dominion will receive a monthly payment of
$607.47 beginning 12/1/2018 and ending 12/1/2028.
* General unsecured claims of IVN Construction & Property Mgmt 2
Braxton Rd. Bryn Mawr, PA 19010; Jonathon Sowell J's Heating & Air
Conditioning 215-280-8278 and Rambo Flooring 267-257-4274. Each
claimant will get monthly payment of $150 beginning Dec. 1, 2019
and ending May 1, 2021, and will have an estimated recovery of
70%.
* Equity holder Michael Forbes is unimpaired under the Plan.
Payments and distributions under the Plan will be funded from
rental income and Michael Forbes (if necessary).
A full-text copy of the Disclosure Statement dated Oct. 9, 2019, is
available at https://tinyurl.com/y3szgtgn from PacerMonitor.com at
no charge.
2358 North 12th Street, LLC, which has been in the business of real
estate rental since 2017, sought Chapter 11 protection (Bankr. E.D.
Pa. Case No. 18-16462) on Sept. 27, 2018. MARCIA Y PHILLIPS, ESQ.
LLM & ASSOCIATES, is the Debtor's counsel.
TSC DORSEY RUN: Oct. 28 Hearing on Debtor's Plan & Disclosures
--------------------------------------------------------------
A hearing to consider the approval of the Disclosure Statement and
confirmation of the Chapter 11 Plan of TSC/DORSEY RUNROAD - JESSUP,
LLC, will be held in Courtroom 3E of the U.S. Bankruptcy Court,
U.S. Courthouse, 6500 Cherrywood Lane, Greenbelt, Maryland 20770,
on Oct. 28, 2019, at 2:00 p.m. Oct. 24, 2019, is fixed as the last
day for filing and serving written objections to confirmation of
the Plan.
TSC/DORSEY RUNROAD - JESSUP, LLC, filed a plan of reorganization
that provides for the sale of the Debtor's principal assets, the
resolutionof the allowance of claims and equity interests, and the
distribution to creditors in accordance withthe priorities of the
Bankruptcy Code.
Under the Plan:
* Class 1 - Allowed Secured Claim of Howard County, Maryland.
IMPAIRED. $24,655.29 NO CLAIM FILED. The Allowed Class 1 Claim
shall be paid in full from Available Cash.
* Class 2 - Allowed Secured Claim of CFG Community Bank.
IMPAIRED. $2,298,556.17. The balance of the Allowed Class 2 Claims
shall be paid in full up to the value of the Real Property or any
portion thereof which is sold.
* Class 3 – Allowed Priority Claims. IMPAIRED. Each holder of
an Allowed Class 3 Priority Claim shall receive a Pro Rata
distribution from Available Cash until such Allowed Class 3 Claims
are paid in full.
* Class 4 – Allowed General Unsecured Claims. IMPAIRED.
$772.50. Each holder of an Allowed Class 4 General Unsecured Claim
shall receive a Pro Rata distribution from Available Cash until
such Allowed Class 4 Claims are paid in full.
* Class 5 – Allowed Equity Interest. IMPAIRED. The holder of
the Equity Interest shall not be entitled, and shall not receive,
any distribution of Available Cash on account of such Equity
Interest under the Plan.
A full-text copy of the Disclosure Statement dated Oct. 11, 2019,
is available at https://tinyurl.com/y4uzvgt5 from PacerMonitor.com
at no charge.
About TSC Dorsey Run Road-Jessup
TSC Dorsey Run Road - Jessup, LLC, is a privately held company
engaged in activities related to real estate. The Company is the
fee simple owner of a property located at 7869 Dorsey Run Road in
Jessup, Maryland having a current value of $2.45 million.
TSC Dorsey Run Road - Jessup, LLC filed a Chapter 11 bankruptcy
petition (Bankr. D. Md. Case No. 18-25597) on Nov. 28, 2018. In
the petition signed by Bruce S. Jaffe, manager, the Debtor
disclosed $2,450,000 in assets and $2,359,552 in liabilities. The
Hon. Michelle M. Harner oversees the case. The Law Offices of
David W. Cohen, led by founding partner David W. Cohen, serves as
bankruptcy counsel.
VITO FASCIGLIONE: Parker Plan Outline Set for Jan. 10 Hearing
-------------------------------------------------------------
The hearing to consider approval of the adequacy of the Disclosure
Statement in support of the Chapter 11 plan filed by proponent
Parker Hart Limited Partnership for debtor Vito
Fasciglione Holdings 24, Inc., will be held in the Courtroom of the
Honorable Robert D. Drain, United States Bankruptcy Judge, Southern
District of New York, at the Courthouse located at 300 Quarropas
Street, White Plains, New York 10601, on Jan. 10, 2020 at 10:00 AM.
January 3, 2020 is the last day for filing and receipt of written
objections to the Disclosure Statement.
As reported in the TCR, Parker Hart Limited Partnership, a secured
creditor of debtor Vito
Fasciglione Holdings 24, Inc., filed with the U.S. Bankruptcy Court
for the Southern District of New York a proposed plan of
reorganization and disclosure statement for the Debtor. Under
Parker Hart's Plan, distributions to holders of Allowed Unsecured
General Claims shall be made no later than 60 days after the
closing of the last of the four properties to be sold. In the
event there are no surplus funds available, Parker and Velocity
will each fund up to $2,500.00 for the distribution to this class.
A full-text copy of Parker Hart's Disclosure Statement dated Oct.
8, 2019, is available at https://tinyurl.com/y3x6l8he from
PacerMonitor.com at no charge.
Parker Hart Limited is represented by:
Avrum J. Rosen, Esq.
Alex E. Tsionis, Esq.
Rosen & Kantrow, PLLC
38 New Street
Huntington, New York 11743
Tel: (631) 423-8527
E-mail: arosen@rkdlawfirm.com
atsionis@rkdlawfirm.com
About Vito Fasciglione
Based in New York, Vito Fasciglione Holdings 24, Inc., is a
privately held company engaged in the business of renting and
leasing real estate properties, filed a voluntary Chapter 11
bankruptcy petition (Bankr. S.D.N.Y. Case No. 19-22768) on April 9,
2019. At the time of filing, the Debtor was estimated to have
assets and debts of $1 million to $10 million. The case is
assigned to Hon. Robert D. Drain.
W & E TRUST: Seeks Permission to Use Cash Collateral
----------------------------------------------------
W & E Trust, Inc., asks the Bankruptcy Court to authorize use of
cash collateral from revenue generated from its business in order
to fund on-going business operations.
The Debtor avers that it is in the best interests of all parties
that it be granted authority to use cash collateral in the ordinary
course of business.
About W & E Trust Inc.
W & E Trust, Inc., sought Chapter 11 protection (Bankr. D. Mass.
Case No. 19-41142) on July 11, 2019. James P. Ehrhard, Esq., at
Ehrhard & Associates, P.C., represents the Debtor.
WALLACE & COMPANY: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Wallace & Company Marketing, Inc.
d/b/a Wallace & Company
22970 Indian Creek Drive, Suite 190
Sterling, VA 20166
Business Description: Wallace & Company Marketing, Inc. --
http://www.wallaceandcompany.com/--
offers traditional and interactive
advertising and marketing services.
Chapter 11 Petition Date: October 18, 2019
Court: United States Bankruptcy Court
Eastern District of Virginia (Alexandria)
Case No.: 19-13426
Judge: Hon. Klinette H. Kindred
Debtor's Counsel: Ann E. Schmitt, Esq.
CULBERT & SCHMITT, PLLC
40834 Graydon Manor Lane
Leesburg, VA 20175
Tel: (703) 737-6377
(703) 737-7797
Fax: 703-439-2859
E-mail: aschmitt@culbert-schmitt.com
Estimated Assets: $100,000 to $500,000
Estimated Liabilities: $1 million to $10 million
The petition was signed by Fraser Wallace, CEO.
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/vaeb19-13426.pdf
WESTERN ROBIDOUX: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Western Robidoux, Inc.
4006 South 40th Street
Saint Joseph, MO 64503
Business Description: Western Robidoux Inc. is a family owned
commercial printing and fulfillment company
located in St. Joseph, Missouri.
Chapter 11 Petition Date: October 19, 2019
Court: United States Bankruptcy Court
Western District of Missouri (St. Joseph)
Case No.: 19-50505
Judge: Hon. Brian T. Fenimore
Debtor's Counsel: Victor F. Weber, Esq.
MERRICK, BAKER & STRAUSS, P.C.
1044 Main St., Ste. 500
Kansas City, MO 64111
Tel: 816-221-8855
Fax: 816-221-7886
E-mail: victor@merrickbakerstrauss.com
bruces@merrickbakerstrauss.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Connie S. Burri, 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/mowb19-50505.pdf
WISE ENTERPRISE: Court Approves Cash Collateral Deal With Synovus
-----------------------------------------------------------------
Judge Paul W. Bonapfel approved the agreement reached between Wise
Enterprise Group LLC and Synovus Bank resolving Synovus' objection
to the Debtor's cash collateral motion.
The Agreed Order provides that:
* Debtor will resume regular monthly payments beginning with the
October 2019 payment in the amount of $7762.14 plus an additional
$150.14 to cure the shortage as to the September 2019 monthly
payment;
* Debtor may continue to use the Real Property in its usual and
customary manner and to maintain proper insurance and post-petition
real estate tax obligations as to the real property; and
* Synovus may resume sending the Debtor with monthly billing
statements and other normal informational communications to help
the Debtor in fulfilling its payment obligations pursuant to this
Order.
The parties agree that should Synovus foreclose, take possession,
and dispose of the Real Property during the pendency of the
Debtor's case, Synovus will be entitled to file for any deficiency
claim, if any.
About Wise Enterprise Group
Wise Enterprise Group LLC, an investment holding company in
Cartersville, Ga., sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Ga. Case No. 19-41786) on Aug. 2,
2019. At the time of the filing, the Debtor disclosed assets of
between $1 million and $10 million and liabilities of the same
range. The case has been assigned to Judge Paul W. Bonapfel. The
Debtor is represented by Theodore N. Stapleton, P.C.
WORSHIP CENTER: Exclusivity Period Extended Until Jan. 31
---------------------------------------------------------
Judge Charles Rendlen III of the U.S. Bankruptcy Court for the
Eastern District of Missouri extended the period during which only
The Worship Center can file a Chapter 11 plan to Jan. 31, 2020, and
the period to solicit acceptances for the plan to April 10, 2020.
Worship Center sought an extension of the exclusivity period so
that it can obtain court approval of and close a sale of its
property, which is anticipated to result in a 100 percent payment
to secured and unsecured creditors.
During the course of its case, Worship Center's attention has been
focused on continuing its operations, handling the various legal
matters that have arisen as a result of its bankruptcy filing, and
marketing its primary real property for sale. The listed real
estate has garnered interest from multiple parties resulting in
showings of the property to interested potential purchasers and two
offers ranging in price from $725,000 to $825,000. The interest
and offers thus far reveal that the property is priced properly and
continued marketing efforts likely will lead to a final contract to
present to the court, according to court filings.
About The Worship Center
The Worship Center sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. E.D. Mo. Case No. 19-41233) on March 4,
2019. The petition was signed by Miah White, president. At the
time of the filing, the Debtor had estimated assets of $1,000,001
to $10 million and liabilities of $1,000,001 to $10 million. The
case has been assigned to Judge Barry S. Schermer. The Debtor
tapped Brian J. LaFlamme, Esq., as its bankruptcy attorney.
No official committee of unsecured creditors has been appointed in
the Chapter 11 case of The Worship Center as of March 20, according
to a court docket.
YIANNIS MEDITERRANEAN: Cash Collateral Use Continued Until Nov. 9
-----------------------------------------------------------------
Judge Ann M. Nevins of the U.S. Bankruptcy Court for the District
of Connecticut authorizes Yiannis Mediterranean Cuisine LLC to use
cash collateral through and including Nov. 9, 2019.
A continued hearing to consider the Motion to Use Cash Collateral
will be held on Nov. 6, 2019, at 10:00 a.m.
The Debtor and Sachem Capital Partners, LLC were parties to that
certain Commercial Promissory Note and a Security Agreement
pursuant to which, among other things, Sachem Partners provided the
Debtor with a loan secured by liens and security interests in
substantially all of the Debtor's assets.Sachem Partners assigned
its loan and its security interests in the Pre-Petition Collateral
to Sachem Capital Corp. As of the Petition Date, the Debtor was
indebted to Sachem Capital in the amount of $213,213.14.
Sachem Capital, and the Internal Revenue Service are each granted
replacement and/or substitute liens in all post-petition assets and
proceeds thereof, having the same validity, extent, and priority as
liens they possessed on the petition date.
To the extent the adequate protection provided by replacement liens
proves to be inadequate and such inadequacy gives rise to a claim
allowable under Section 507(a)(2), Sachem and the IRS will be
entitled to a superior-priority administrative claim pursuant to
Section 503(b) and they will be entitled to the protections of and
priority set forth in 507(b).
That the Debtor will also make the rent payments specified in the
proposed budget directly to Sachem Capital, mailed to the
creditor’s usual place of business and that the property owner,
Jenny Kontothanasis consents to such payment arrangement; and it is
further
A copy of the Third Order is available for free at
http://bankrupt.com/misc/ctb19-31516-80.pdf
About Yiannis Mediterranean
Yiannis Mediterranean Cuisine LLC is a limited liability company
that operates a restaurant serving fine mediterannean cuisine. It
filed its voluntary petition under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Conn. Case No. 19-31516) on Sept. 11,
2019, in New Haven, Connecticut. William E. Carter, Esq., is the
Debtor's counsel.
[^] Large Companies with Insolvent Balance Sheet
------------------------------------------------
Total
Share- Total
Total Holders' Working
Assets Equity Capital
Company Ticker ($MM) ($MM) ($MM)
------- ------ ------ -------- -------
ABBVIE INC ABBV US 57,142.0 (8,566.0) (1,841.0)
ABBVIE INC ABBV AV 57,142.0 (8,566.0) (1,841.0)
ABBVIE INC 4AB TE 57,142.0 (8,566.0) (1,841.0)
ABBVIE INC ABBVUSD EU 57,142.0 (8,566.0) (1,841.0)
ABBVIE INC ABBVEUR EU 57,142.0 (8,566.0) (1,841.0)
ABBVIE INC 4AB GZ 57,142.0 (8,566.0) (1,841.0)
ABBVIE INC 4AB GR 57,142.0 (8,566.0) (1,841.0)
ABBVIE INC ABBV SW 57,142.0 (8,566.0) (1,841.0)
ABBVIE INC ABBV* MM 57,142.0 (8,566.0) (1,841.0)
ABBVIE INC 4AB TH 57,142.0 (8,566.0) (1,841.0)
ABBVIE INC 4AB QT 57,142.0 (8,566.0) (1,841.0)
ABBVIE INC-BDR ABBV34 BZ 57,142.0 (8,566.0) (1,841.0)
ABSOLUTE SOFTWRE OU1 GR 103.3 (50.6) (27.4)
ABSOLUTE SOFTWRE ALSWF US 103.3 (50.6) (27.4)
ABSOLUTE SOFTWRE ABT CN 103.3 (50.6) (27.4)
ABSOLUTE SOFTWRE ABT2EUR EU 103.3 (50.6) (27.4)
AGENUS INC AGENUSD EU 206.7 (134.7) 17.2
AIXIN LIFE INTER AIXN US 2.1 (3.2) (4.7)
AMER RESTAUR-LP ICTPU US 33.5 (4.0) (6.2)
AMERICAN AIR-BDR AALL34 BZ 61,967.0 (22.0) (10,273.0)
AMERICAN AIRLINE AAL TE 61,967.0 (22.0) (10,273.0)
AMERICAN AIRLINE A1G SW 61,967.0 (22.0) (10,273.0)
AMERICAN AIRLINE AAL US 61,967.0 (22.0) (10,273.0)
AMERICAN AIRLINE AAL* MM 61,967.0 (22.0) (10,273.0)
AMERICAN AIRLINE A1G GR 61,967.0 (22.0) (10,273.0)
AMERICAN AIRLINE AAL1USD EU 61,967.0 (22.0) (10,273.0)
AMERICAN AIRLINE A1G TH 61,967.0 (22.0) (10,273.0)
AMERICAN AIRLINE A1G GZ 61,967.0 (22.0) (10,273.0)
AMERICAN AIRLINE AAL11EUR EU 61,967.0 (22.0) (10,273.0)
AMERICAN AIRLINE AAL AV 61,967.0 (22.0) (10,273.0)
AMERICAN AIRLINE A1G QT 61,967.0 (22.0) (10,273.0)
AMYRIS INC 3A01 GR 122.8 (175.3) (143.7)
AMYRIS INC 3A01 TH 122.8 (175.3) (143.7)
AMYRIS INC AMRSUSD EU 122.8 (175.3) (143.7)
AMYRIS INC AMRS US 122.8 (175.3) (143.7)
AMYRIS INC 3A01 QT 122.8 (175.3) (143.7)
AMYRIS INC AMRSEUR EU 122.8 (175.3) (143.7)
AUTODESK INC ADSK US 4,872.7 (194.3) (1,191.8)
AUTODESK INC AUD TH 4,872.7 (194.3) (1,191.8)
AUTODESK INC ADSKEUR EU 4,872.7 (194.3) (1,191.8)
AUTODESK INC ADSKUSD EU 4,872.7 (194.3) (1,191.8)
AUTODESK INC ADSK TE 4,872.7 (194.3) (1,191.8)
AUTODESK INC AUD GR 4,872.7 (194.3) (1,191.8)
AUTODESK INC AUD GZ 4,872.7 (194.3) (1,191.8)
AUTODESK INC ADSK AV 4,872.7 (194.3) (1,191.8)
AUTODESK INC ADSK* MM 4,872.7 (194.3) (1,191.8)
AUTODESK INC AUD QT 4,872.7 (194.3) (1,191.8)
AUTOZONE INC AZO US 9,773.7 (1,589.5) (345.5)
AUTOZONE INC AZ5 TH 9,773.7 (1,589.5) (345.5)
AUTOZONE INC AZ5 GR 9,773.7 (1,589.5) (345.5)
AUTOZONE INC AZOUSD EU 9,773.7 (1,589.5) (345.5)
AUTOZONE INC AZO AV 9,773.7 (1,589.5) (345.5)
AUTOZONE INC AZ5 TE 9,773.7 (1,589.5) (345.5)
AUTOZONE INC AZO* MM 9,773.7 (1,589.5) (345.5)
AUTOZONE INC AZOEUR EU 9,773.7 (1,589.5) (345.5)
AUTOZONE INC AZ5 QT 9,773.7 (1,589.5) (345.5)
AUTOZONE INC-BDR AZOI34 BZ 9,773.7 (1,589.5) (345.5)
AVID TECHNOLOGY AVD GR 282.1 (175.8) (20.2)
AVID TECHNOLOGY AVID US 282.1 (175.8) (20.2)
AYR STRATEGIES I AYR/A CN 473.2 168.4 15.7
BABCOCK & WILCOX BW US 772.0 (343.0) (218.5)
BENEFITFOCUS INC BNFTEUR EU 335.2 (19.1) 113.5
BENEFITFOCUS INC BNFT US 335.2 (19.1) 113.5
BENEFITFOCUS INC BTF GR 335.2 (19.1) 113.5
BEYONDSPRING INC BYSI US 6.0 (18.1) (17.0)
BIOCRYST PHARM BCRX* MM 116.3 (9.2) 31.8
BJ'S WHOLESALE C BJ US 5,152.1 (164.6) (345.8)
BJ'S WHOLESALE C 8BJ GR 5,152.1 (164.6) (345.8)
BJ'S WHOLESALE C 8BJ QT 5,152.1 (164.6) (345.8)
BLUE BIRD CORP BLBD US 408.4 (61.2) 15.0
BLUELINX HOLDING BXC US 1,081.2 (12.8) 456.0
BLUELINX HOLDING BXCEUR EU 1,081.2 (12.8) 456.0
BLUELINX HOLDING FZG1 GR 1,081.2 (12.8) 456.0
BOEING CO-BDR BOEI34 BZ 126,261.0 (4,943.0) 2,922.0
BOEING CO-CED BA AR 126,261.0 (4,943.0) 2,922.0
BOEING CO-CED BAD AR 126,261.0 (4,943.0) 2,922.0
BOEING CO/THE BA* MM 126,261.0 (4,943.0) 2,922.0
BOEING CO/THE BA TE 126,261.0 (4,943.0) 2,922.0
BOEING CO/THE BOE LN 126,261.0 (4,943.0) 2,922.0
BOEING CO/THE BCO TH 126,261.0 (4,943.0) 2,922.0
BOEING CO/THE BA US 126,261.0 (4,943.0) 2,922.0
BOEING CO/THE BA SW 126,261.0 (4,943.0) 2,922.0
BOEING CO/THE BCO GR 126,261.0 (4,943.0) 2,922.0
BOEING CO/THE BAEUR EU 126,261.0 (4,943.0) 2,922.0
BOEING CO/THE BAUSD SW 126,261.0 (4,943.0) 2,922.0
BOEING CO/THE BCO GZ 126,261.0 (4,943.0) 2,922.0
BOEING CO/THE BA AV 126,261.0 (4,943.0) 2,922.0
BOEING CO/THE BA EU 126,261.0 (4,943.0) 2,922.0
BOEING CO/THE BA CI 126,261.0 (4,943.0) 2,922.0
BOEING CO/THE BCO QT 126,261.0 (4,943.0) 2,922.0
BOMBARDIER INC-B BBDBN MM 26,688.0 (4,352.0) (57.0)
BRINKER INTL EAT US 1,258.3 (778.2) (244.6)
BRINKER INTL BKJ GR 1,258.3 (778.2) (244.6)
BRINKER INTL BKJ QT 1,258.3 (778.2) (244.6)
BRINKER INTL EAT2EUR EU 1,258.3 (778.2) (244.6)
BRP INC/CA-SUB V B15A GZ 3,505.3 (614.6) (46.0)
BRP INC/CA-SUB V DOOEUR EU 3,505.3 (614.6) (46.0)
BRP INC/CA-SUB V DOO CN 3,505.3 (614.6) (46.0)
BRP INC/CA-SUB V B15A GR 3,505.3 (614.6) (46.0)
BRP INC/CA-SUB V DOOO US 3,505.3 (614.6) (46.0)
CADIZ INC CDZI US 77.5 (79.8) 16.7
CADIZ INC 2ZC GR 77.5 (79.8) 16.7
CASTLE BIOSCIENC CSTL US 33.3 (3.6) 16.8
CATASYS INC CATS US 16.1 (12.2) (0.5)
CATASYS INC HY1N GR 16.1 (12.2) (0.5)
CATASYS INC CATSEUR EU 16.1 (12.2) (0.5)
CDK GLOBAL INC CDK US 2,999.0 (714.5) 149.2
CDK GLOBAL INC C2G QT 2,999.0 (714.5) 149.2
CDK GLOBAL INC CDK* MM 2,999.0 (714.5) 149.2
CDK GLOBAL INC CDKUSD EU 2,999.0 (714.5) 149.2
CDK GLOBAL INC CDKEUR EU 2,999.0 (714.5) 149.2
CDK GLOBAL INC C2G TH 2,999.0 (714.5) 149.2
CDK GLOBAL INC C2G GR 2,999.0 (714.5) 149.2
CEDAR FAIR LP FUN1EUR EU 2,532.8 (100.2) 139.8
CEDAR FAIR LP FUN US 2,532.8 (100.2) 139.8
CEDAR FAIR LP 7CF GR 2,532.8 (100.2) 139.8
CHEWY INC- CL A CHWY US 813.9 (361.7) (407.9)
CHOICE HOTELS CZH GR 1,214.3 (122.7) (44.1)
CHOICE HOTELS CHH US 1,214.3 (122.7) (44.1)
CINCINNATI BELL CBB US 2,655.7 (112.3) (111.3)
CINCINNATI BELL CIB1 GR 2,655.7 (112.3) (111.3)
CINCINNATI BELL CBBEUR EU 2,655.7 (112.3) (111.3)
CLOVIS ONCOLOGY C6O GR 686.0 (30.0) 272.6
CLOVIS ONCOLOGY CLVS US 686.0 (30.0) 272.6
CLOVIS ONCOLOGY CLVSUSD EU 686.0 (30.0) 272.6
CLOVIS ONCOLOGY C6O SW 686.0 (30.0) 272.6
CLOVIS ONCOLOGY C6O QT 686.0 (30.0) 272.6
CLOVIS ONCOLOGY C6O TH 686.0 (30.0) 272.6
COGENT COMMUNICA CCOI US 949.1 (176.6) 395.8
COGENT COMMUNICA OGM1 GR 949.1 (176.6) 395.8
COHERUS BIOSCIEN CHRSUSD EU 240.5 (4.0) 144.4
COHERUS BIOSCIEN 8C5 TH 240.5 (4.0) 144.4
COHERUS BIOSCIEN CHRSEUR EU 240.5 (4.0) 144.4
COHERUS BIOSCIEN 8C5 QT 240.5 (4.0) 144.4
COHERUS BIOSCIEN CHRS US 240.5 (4.0) 144.4
COHERUS BIOSCIEN 8C5 GR 240.5 (4.0) 144.4
COLGATE-BDR COLG34 BZ 13,151.0 (10.0) 473.0
COLGATE-CEDEAR CL AR 13,151.0 (10.0) 473.0
COLGATE-PALMOLIV CL SW 13,151.0 (10.0) 473.0
COLGATE-PALMOLIV CL EU 13,151.0 (10.0) 473.0
COLGATE-PALMOLIV CPA TH 13,151.0 (10.0) 473.0
COLGATE-PALMOLIV CLEUR EU 13,151.0 (10.0) 473.0
COLGATE-PALMOLIV CL* MM 13,151.0 (10.0) 473.0
COLGATE-PALMOLIV CL TE 13,151.0 (10.0) 473.0
COLGATE-PALMOLIV COLG AV 13,151.0 (10.0) 473.0
COLGATE-PALMOLIV CLUSD SW 13,151.0 (10.0) 473.0
COLGATE-PALMOLIV CPA GZ 13,151.0 (10.0) 473.0
COLGATE-PALMOLIV CL US 13,151.0 (10.0) 473.0
COLGATE-PALMOLIV CPA GR 13,151.0 (10.0) 473.0
COLGATE-PALMOLIV CPA QT 13,151.0 (10.0) 473.0
COMMUNITY HEALTH CG5 GR 16,132.0 (1,256.0) 981.0
COMMUNITY HEALTH CYH US 16,132.0 (1,256.0) 981.0
COMMUNITY HEALTH CYH1USD EU 16,132.0 (1,256.0) 981.0
COMMUNITY HEALTH CG5 TH 16,132.0 (1,256.0) 981.0
COMMUNITY HEALTH CG5 QT 16,132.0 (1,256.0) 981.0
COMMUNITY HEALTH CYH1EUR EU 16,132.0 (1,256.0) 981.0
CYTOKINETICS INC CYTK US 198.2 (4.9) 163.0
CYTOKINETICS INC KK3A GR 198.2 (4.9) 163.0
CYTOKINETICS INC KK3A TH 198.2 (4.9) 163.0
CYTOKINETICS INC CYTKUSD EU 198.2 (4.9) 163.0
CYTOKINETICS INC CYTKEUR EU 198.2 (4.9) 163.0
CYTOKINETICS INC KK3A QT 198.2 (4.9) 163.0
DELEK LOGISTICS DKL US 769.3 (144.3) 2.3
DELEK LOGISTICS D6L GR 769.3 (144.3) 2.3
DENNY'S CORP DENN US 438.7 (142.6) (41.3)
DENNY'S CORP DENNEUR EU 438.7 (142.6) (41.3)
DENNY'S CORP DE8 GR 438.7 (142.6) (41.3)
DIEBOLD NIXDORF DBD SW 4,104.5 (304.0) 368.1
DIEBOLD NIXDORF DBD GR 4,104.5 (304.0) 368.1
DIEBOLD NIXDORF DBD US 4,104.5 (304.0) 368.1
DIEBOLD NIXDORF DBDEUR EU 4,104.5 (304.0) 368.1
DIEBOLD NIXDORF DBDUSD EU 4,104.5 (304.0) 368.1
DIEBOLD NIXDORF DLD TH 4,104.5 (304.0) 368.1
DIEBOLD NIXDORF DLD QT 4,104.5 (304.0) 368.1
DINE BRANDS GLOB IHP GR 2,040.7 (215.1) 7.9
DINE BRANDS GLOB DIN US 2,040.7 (215.1) 7.9
DOCEBO INC DCBO CN 20.5 (15.5) (9.7)
DOLLARAMA INC DLMAF US 3,535.8 (106.0) 125.9
DOLLARAMA INC DOL CN 3,535.8 (106.0) 125.9
DOLLARAMA INC DR3 GR 3,535.8 (106.0) 125.9
DOLLARAMA INC DR3 TH 3,535.8 (106.0) 125.9
DOLLARAMA INC DR3 QT 3,535.8 (106.0) 125.9
DOLLARAMA INC DOLCAD EU 3,535.8 (106.0) 125.9
DOLLARAMA INC DR3 GZ 3,535.8 (106.0) 125.9
DOLLARAMA INC DOLEUR EU 3,535.8 (106.0) 125.9
DOMINO'S PIZZA EZV TH 1,160.3 (2,935.6) 184.1
DOMINO'S PIZZA DPZ US 1,160.3 (2,935.6) 184.1
DOMINO'S PIZZA DPZEUR EU 1,160.3 (2,935.6) 184.1
DOMINO'S PIZZA DPZUSD EU 1,160.3 (2,935.6) 184.1
DOMINO'S PIZZA EZV GZ 1,160.3 (2,935.6) 184.1
DOMINO'S PIZZA DPZ AV 1,160.3 (2,935.6) 184.1
DOMINO'S PIZZA DPZ* MM 1,160.3 (2,935.6) 184.1
DOMINO'S PIZZA EZV GR 1,160.3 (2,935.6) 184.1
DOMINO'S PIZZA EZV QT 1,160.3 (2,935.6) 184.1
DOMO INC- CL B DOMO US 234.5 (4.9) 59.5
DOMO INC- CL B 1ON GR 234.5 (4.9) 59.5
DOMO INC- CL B 1ON GZ 234.5 (4.9) 59.5
DOMO INC- CL B DOMOEUR EU 234.5 (4.9) 59.5
DOMO INC- CL B DOMOUSD EU 234.5 (4.9) 59.5
DOMO INC- CL B 1ON TH 234.5 (4.9) 59.5
DUNKIN' BRANDS G DNKN US 3,767.9 (656.8) 288.1
DUNKIN' BRANDS G 2DB TH 3,767.9 (656.8) 288.1
DUNKIN' BRANDS G 2DB GR 3,767.9 (656.8) 288.1
DUNKIN' BRANDS G 2DB GZ 3,767.9 (656.8) 288.1
DUNKIN' BRANDS G DNKNEUR EU 3,767.9 (656.8) 288.1
DUNKIN' BRANDS G 2DB QT 3,767.9 (656.8) 288.1
DYNATRACE INC DT US 1,775.6 (437.6) (748.4)
EMISPHERE TECH EMIS US 5.2 (155.3) (1.4)
EVERI HOLDINGS I G2C TH 1,596.3 (84.4) 6.7
EVERI HOLDINGS I G2C GR 1,596.3 (84.4) 6.7
EVERI HOLDINGS I EVRI US 1,596.3 (84.4) 6.7
EVERI HOLDINGS I EVRIUSD EU 1,596.3 (84.4) 6.7
EVERI HOLDINGS I EVRIEUR EU 1,596.3 (84.4) 6.7
EXAGEN INC XGN US 15.3 (7.1) (10.6)
FC GLOBAL REALTY FCRE IT 4.2 (0.6) (3.2)
FILO MINING CORP FIL SS 11.6 (9.2) (10.5)
FRONTDOOR IN 3I5 GR 1,179.0 (278.0) 52.0
FRONTDOOR IN FTDR US 1,179.0 (278.0) 52.0
FRONTDOOR IN FTDREUR EU 1,179.0 (278.0) 52.0
GOGO INC GOGO US 1,282.1 (363.6) 207.7
GOGO INC G0G TH 1,282.1 (363.6) 207.7
GOGO INC GOGOUSD EU 1,282.1 (363.6) 207.7
GOGO INC GOGOEUR EU 1,282.1 (363.6) 207.7
GOGO INC G0G GR 1,282.1 (363.6) 207.7
GOGO INC G0G QT 1,282.1 (363.6) 207.7
GOOSEHEAD INSU-A GSHD US 38.1 (30.5) 0.0
GOOSEHEAD INSU-A 2OX GR 38.1 (30.5) 0.0
GOOSEHEAD INSU-A GSHDEUR EU 38.1 (30.5) 0.0
GRAFTECH INTERNA EAF US 1,726.4 (709.8) 621.2
GRAFTECH INTERNA G6G GR 1,726.4 (709.8) 621.2
GRAFTECH INTERNA G6G TH 1,726.4 (709.8) 621.2
GRAFTECH INTERNA EAFEUR EU 1,726.4 (709.8) 621.2
GRAFTECH INTERNA G6G QT 1,726.4 (709.8) 621.2
GRAFTECH INTERNA EAFUSD EU 1,726.4 (709.8) 621.2
GRAFTECH INTERNA G6G GZ 1,726.4 (709.8) 621.2
GREEN PLAINS PAR 8GP GR 123.2 (73.9) (4.9)
GREEN PLAINS PAR GPP US 123.2 (73.9) (4.9)
GREENSKY INC-A GSKY US 840.9 (96.8) 247.4
HANGER INC HNGR US 780.8 (21.8) 92.3
HANGER INC HO8 GR 780.8 (21.8) 92.3
HANGER INC HNGREUR EU 780.8 (21.8) 92.3
HCA HEALTHCARE I 2BH GR 45,449.0 (1,770.0) 3,908.0
HCA HEALTHCARE I 2BH TH 45,449.0 (1,770.0) 3,908.0
HCA HEALTHCARE I HCA US 45,449.0 (1,770.0) 3,908.0
HCA HEALTHCARE I HCA* MM 45,449.0 (1,770.0) 3,908.0
HCA HEALTHCARE I HCAUSD EU 45,449.0 (1,770.0) 3,908.0
HCA HEALTHCARE I 2BH TE 45,449.0 (1,770.0) 3,908.0
HCA HEALTHCARE I HCAEUR EU 45,449.0 (1,770.0) 3,908.0
HERBALIFE NUTRIT HLF US 3,078.6 (534.2) 393.4
HERBALIFE NUTRIT HLFUSD EU 3,078.6 (534.2) 393.4
HERBALIFE NUTRIT HOO SW 3,078.6 (534.2) 393.4
HERBALIFE NUTRIT HOO GR 3,078.6 (534.2) 393.4
HERBALIFE NUTRIT HOO GZ 3,078.6 (534.2) 393.4
HERBALIFE NUTRIT HLFEUR EU 3,078.6 (534.2) 393.4
HERBALIFE NUTRIT HOO QT 3,078.6 (534.2) 393.4
HEWLETT-CEDEAR HPQ AR 32,405.0 (1,131.0) (4,896.0)
HILTON WORLDWIDE HI91 TH 15,140.0 (23.0) (565.0)
HILTON WORLDWIDE HI91 GR 15,140.0 (23.0) (565.0)
HILTON WORLDWIDE HLTEUR EU 15,140.0 (23.0) (565.0)
HILTON WORLDWIDE HLT* MM 15,140.0 (23.0) (565.0)
HILTON WORLDWIDE HLT US 15,140.0 (23.0) (565.0)
HILTON WORLDWIDE HI91 TE 15,140.0 (23.0) (565.0)
HOME DEPOT - BDR HOME34 BZ 52,010.0 (1,160.0) 1,901.0
HOME DEPOT INC HD* MM 52,010.0 (1,160.0) 1,901.0
HOME DEPOT INC HD TE 52,010.0 (1,160.0) 1,901.0
HOME DEPOT INC HDI TH 52,010.0 (1,160.0) 1,901.0
HOME DEPOT INC HDI GR 52,010.0 (1,160.0) 1,901.0
HOME DEPOT INC HD US 52,010.0 (1,160.0) 1,901.0
HOME DEPOT INC HD SW 52,010.0 (1,160.0) 1,901.0
HOME DEPOT INC HDUSD SW 52,010.0 (1,160.0) 1,901.0
HOME DEPOT INC HDI GZ 52,010.0 (1,160.0) 1,901.0
HOME DEPOT INC HD AV 52,010.0 (1,160.0) 1,901.0
HOME DEPOT INC HD CI 52,010.0 (1,160.0) 1,901.0
HOME DEPOT INC HDEUR EU 52,010.0 (1,160.0) 1,901.0
HOME DEPOT INC HDI QT 52,010.0 (1,160.0) 1,901.0
HOME DEPOT INC HDUSD EU 52,010.0 (1,160.0) 1,901.0
HOME DEPOT-CED HD AR 52,010.0 (1,160.0) 1,901.0
HOME DEPOT-CED HDD AR 52,010.0 (1,160.0) 1,901.0
HOVNANIAN ENT-A HOV US 1,795.3 (493.1) 775.5
HP COMPANY-BDR HPQB34 BZ 32,405.0 (1,131.0) (4,896.0)
HP INC HPQ US 32,405.0 (1,131.0) (4,896.0)
HP INC 7HP TH 32,405.0 (1,131.0) (4,896.0)
HP INC 7HP GR 32,405.0 (1,131.0) (4,896.0)
HP INC HPQ TE 32,405.0 (1,131.0) (4,896.0)
HP INC HPQ AV 32,405.0 (1,131.0) (4,896.0)
HP INC 0J2E LI 32,405.0 (1,131.0) (4,896.0)
HP INC HPQ* MM 32,405.0 (1,131.0) (4,896.0)
HP INC HPQ SW 32,405.0 (1,131.0) (4,896.0)
HP INC HPQUSD SW 32,405.0 (1,131.0) (4,896.0)
HP INC 7HP GZ 32,405.0 (1,131.0) (4,896.0)
HP INC HPQEUR EU 32,405.0 (1,131.0) (4,896.0)
HP INC HPQ CI 32,405.0 (1,131.0) (4,896.0)
HP INC HWP QT 32,405.0 (1,131.0) (4,896.0)
HP INC HPQUSD EU 32,405.0 (1,131.0) (4,896.0)
IAA INC IAA US 2,010.3 (228.9) 155.5
IAA INC 3NI GR 2,010.3 (228.9) 155.5
IAA INC IAA-WEUR EU 2,010.3 (228.9) 155.5
IMMUNOGEN INC IMGNUSD EU 287.7 (68.2) 184.8
IMMUNOGEN INC IMGN* MM 287.7 (68.2) 184.8
INSEEGO CORP INO TH 164.7 (37.3) (117.3)
INSEEGO CORP INO QT 164.7 (37.3) (117.3)
INSEEGO CORP INSGUSD EU 164.7 (37.3) (117.3)
INSEEGO CORP INSG US 164.7 (37.3) (117.3)
INSEEGO CORP INSGEUR EU 164.7 (37.3) (117.3)
INSEEGO CORP INO GR 164.7 (37.3) (117.3)
INSEEGO CORP INO GZ 164.7 (37.3) (117.3)
INSPIRED ENTERTA INSE US 187.7 (22.6) 11.3
IRONWOOD PHARMAC I76 GR 315.7 (219.4) 110.1
IRONWOOD PHARMAC IRWD US 315.7 (219.4) 110.1
IRONWOOD PHARMAC I76 TH 315.7 (219.4) 110.1
IRONWOOD PHARMAC IRWDUSD EU 315.7 (219.4) 110.1
IRONWOOD PHARMAC I76 QT 315.7 (219.4) 110.1
IRONWOOD PHARMAC IRWDEUR EU 315.7 (219.4) 110.1
ISRAMCO INC IRM GR 106.7 (2.0) (7.3)
ISRAMCO INC ISRL US 106.7 (2.0) (7.3)
ISRAMCO INC ISRLEUR EU 106.7 (2.0) (7.3)
JACK IN THE BOX JACK US 831.3 (580.6) (112.9)
JACK IN THE BOX JBX GR 831.3 (580.6) (112.9)
JACK IN THE BOX JBX GZ 831.3 (580.6) (112.9)
JACK IN THE BOX JBX QT 831.3 (580.6) (112.9)
JACK IN THE BOX JACK1EUR EU 831.3 (580.6) (112.9)
JUST ENERGY GROU JE CN 1,536.8 (381.2) (58.0)
L BRANDS INC LTD TH 10,618.0 (929.0) 437.0
L BRANDS INC LTD GR 10,618.0 (929.0) 437.0
L BRANDS INC LB US 10,618.0 (929.0) 437.0
L BRANDS INC LBUSD EU 10,618.0 (929.0) 437.0
L BRANDS INC LBRA AV 10,618.0 (929.0) 437.0
L BRANDS INC LBEUR EU 10,618.0 (929.0) 437.0
L BRANDS INC LB* MM 10,618.0 (929.0) 437.0
L BRANDS INC LTD QT 10,618.0 (929.0) 437.0
L BRANDS INC-BDR LBRN34 BZ 10,618.0 (929.0) 437.0
LA JOLLA PHARM LJPC US 169.9 (12.6) 110.4
LA JOLLA PHARM LJPP GR 169.9 (12.6) 110.4
LENNOX INTL INC LXI GR 2,340.4 (217.5) 368.9
LENNOX INTL INC LII US 2,340.4 (217.5) 368.9
LENNOX INTL INC LXI TH 2,340.4 (217.5) 368.9
LENNOX INTL INC LII1USD EU 2,340.4 (217.5) 368.9
LENNOX INTL INC LII* MM 2,340.4 (217.5) 368.9
LENNOX INTL INC LII1EUR EU 2,340.4 (217.5) 368.9
LEXICON PHARMACE LXRX US 233.1 (64.9) 100.0
LEXICON PHARMACE LXRXUSD EU 233.1 (64.9) 100.0
MARTIN MIDSTREAM MMLPUSD EU 700.5 (37.1) 88.5
MARTIN MIDSTREAM MMLP US 700.5 (37.1) 88.5
MCDONALDS - BDR MCDC34 BZ 46,199.8 (6,808.8) 675.4
MCDONALDS CORP MDO GR 46,199.8 (6,808.8) 675.4
MCDONALDS CORP MCD* MM 46,199.8 (6,808.8) 675.4
MCDONALDS CORP MCD TE 46,199.8 (6,808.8) 675.4
MCDONALDS CORP MCD SW 46,199.8 (6,808.8) 675.4
MCDONALDS CORP MCD US 46,199.8 (6,808.8) 675.4
MCDONALDS CORP MDO TH 46,199.8 (6,808.8) 675.4
MCDONALDS CORP 0R16 LN 46,199.8 (6,808.8) 675.4
MCDONALDS CORP MCDUSD SW 46,199.8 (6,808.8) 675.4
MCDONALDS CORP MCDEUR EU 46,199.8 (6,808.8) 675.4
MCDONALDS CORP MDO GZ 46,199.8 (6,808.8) 675.4
MCDONALDS CORP MCD AV 46,199.8 (6,808.8) 675.4
MCDONALDS CORP MCD CI 46,199.8 (6,808.8) 675.4
MCDONALDS CORP MDO QT 46,199.8 (6,808.8) 675.4
MCDONALDS CORP MCDUSD EU 46,199.8 (6,808.8) 675.4
MCDONALDS-CEDEAR MCD AR 46,199.8 (6,808.8) 675.4
MCDONALDS-CEDEAR MCDD AR 46,199.8 (6,808.8) 675.4
MERCER PARK BR-A MRCQF US 407.1 (18.8) 4.1
MERCER PARK BR-A BRND/A/U CN 407.1 (18.8) 4.1
MICHAELS COS INC MIKEUR EU 3,707.1 (1,587.6) 289.9
MICHAELS COS INC MIK US 3,707.1 (1,587.6) 289.9
MICHAELS COS INC MIM GR 3,707.1 (1,587.6) 289.9
MONEYGRAM INTERN MGI US 4,383.6 (236.7) (129.5)
MONEYGRAM INTERN 9M1N GR 4,383.6 (236.7) (129.5)
MONEYGRAM INTERN MGIUSD EU 4,383.6 (236.7) (129.5)
MONEYGRAM INTERN 9M1N TH 4,383.6 (236.7) (129.5)
MONEYGRAM INTERN MGIEUR EU 4,383.6 (236.7) (129.5)
MONEYGRAM INTERN 9M1N QT 4,383.6 (236.7) (129.5)
MONITRONICS INTL SCTY US 1,705.3 (202.9) (25.0)
MOTOROLA SOL-CED MSI AR 9,974.0 (954.0) 955.0
MOTOROLA SOLUTIO MTLA TH 9,974.0 (954.0) 955.0
MOTOROLA SOLUTIO MOT TE 9,974.0 (954.0) 955.0
MOTOROLA SOLUTIO MSI US 9,974.0 (954.0) 955.0
MOTOROLA SOLUTIO MTLA GR 9,974.0 (954.0) 955.0
MOTOROLA SOLUTIO MSI1USD EU 9,974.0 (954.0) 955.0
MOTOROLA SOLUTIO MSI1EUR EU 9,974.0 (954.0) 955.0
MOTOROLA SOLUTIO MTLA GZ 9,974.0 (954.0) 955.0
MOTOROLA SOLUTIO MTLA QT 9,974.0 (954.0) 955.0
MSCI INC 3HM GR 3,425.1 (231.8) 556.1
MSCI INC MSCI US 3,425.1 (231.8) 556.1
MSCI INC 3HM QT 3,425.1 (231.8) 556.1
MSCI INC MSCI* MM 3,425.1 (231.8) 556.1
MSG NETWORKS- A MSGN US 866.9 (458.8) 216.9
MSG NETWORKS- A MSGNUSD EU 866.9 (458.8) 216.9
MSG NETWORKS- A 1M4 GR 866.9 (458.8) 216.9
MSG NETWORKS- A MSGNEUR EU 866.9 (458.8) 216.9
MSG NETWORKS- A 1M4 QT 866.9 (458.8) 216.9
MSG NETWORKS- A 1M4 TH 866.9 (458.8) 216.9
N/A BJEUR EU 5,152.1 (164.6) (345.8)
NATHANS FAMOUS NATH US 105.0 (65.1) 76.5
NATHANS FAMOUS NFA GR 105.0 (65.1) 76.5
NATHANS FAMOUS NATHEUR EU 105.0 (65.1) 76.5
NATIONAL CINEMED XWM GR 1,104.0 (110.5) 99.8
NATIONAL CINEMED NCMI US 1,104.0 (110.5) 99.8
NATIONAL CINEMED NCMIEUR EU 1,104.0 (110.5) 99.8
NAVISTAR INTL IHR TH 7,294.0 (3,660.0) 1,521.0
NAVISTAR INTL NAVEUR EU 7,294.0 (3,660.0) 1,521.0
NAVISTAR INTL NAVUSD EU 7,294.0 (3,660.0) 1,521.0
NAVISTAR INTL IHR GR 7,294.0 (3,660.0) 1,521.0
NAVISTAR INTL NAV US 7,294.0 (3,660.0) 1,521.0
NAVISTAR INTL IHR GZ 7,294.0 (3,660.0) 1,521.0
NAVISTAR INTL IHR QT 7,294.0 (3,660.0) 1,521.0
NEW ENG RLTY-LP NEN US 244.5 (38.0) 0.0
NRC GROUP HOLDIN NRCG US 421.3 (42.4) 23.1
NRG ENERGY NRG US 9,171.0 (1,629.0) 751.0
NRG ENERGY NRA GR 9,171.0 (1,629.0) 751.0
NRG ENERGY NRA TH 9,171.0 (1,629.0) 751.0
NRG ENERGY NRA QT 9,171.0 (1,629.0) 751.0
NRG ENERGY NRGEUR EU 9,171.0 (1,629.0) 751.0
OMEROS CORP OMER US 89.8 (130.3) 25.3
OMEROS CORP 3O8 GR 89.8 (130.3) 25.3
OMEROS CORP OMERUSD EU 89.8 (130.3) 25.3
OMEROS CORP 3O8 TH 89.8 (130.3) 25.3
OMEROS CORP OMEREUR EU 89.8 (130.3) 25.3
OPTION CARE HEAL BIOSUSD EU 600.6 (75.2) 61.5
OPTION CARE HEAL MM6 QT 600.6 (75.2) 61.5
OPTION CARE HEAL BIOSEUR EU 600.6 (75.2) 61.5
OPTION CARE HEAL BIOS US 600.6 (75.2) 61.5
OPTION CARE HEAL MM6 GR 600.6 (75.2) 61.5
OPTIVA INC RE6 GR 123.6 (21.4) 26.2
OPTIVA INC RKNEF US 123.6 (21.4) 26.2
OPTIVA INC OPT CN 123.6 (21.4) 26.2
OPTIVA INC 3230510Q EU 123.6 (21.4) 26.2
OPTIVA INC RKNEUR EU 123.6 (21.4) 26.2
PAPA JOHN'S INTL PP1 GR 726.6 (60.6) (17.4)
PAPA JOHN'S INTL PZZA US 726.6 (60.6) (17.4)
PAPA JOHN'S INTL PZZAEUR EU 726.6 (60.6) (17.4)
PAPA JOHN'S INTL PP1 GZ 726.6 (60.6) (17.4)
PHILIP MORRI-BDR PHMO34 BZ 41,420.0 (9,155.0) 1,530.0
PHILIP MORRIS IN 4I1 TH 41,420.0 (9,155.0) 1,530.0
PHILIP MORRIS IN PM1 TE 41,420.0 (9,155.0) 1,530.0
PHILIP MORRIS IN PM1EUR EU 41,420.0 (9,155.0) 1,530.0
PHILIP MORRIS IN PMI SW 41,420.0 (9,155.0) 1,530.0
PHILIP MORRIS IN PM1 EU 41,420.0 (9,155.0) 1,530.0
PHILIP MORRIS IN 4I1 GR 41,420.0 (9,155.0) 1,530.0
PHILIP MORRIS IN PM US 41,420.0 (9,155.0) 1,530.0
PHILIP MORRIS IN PM1CHF EU 41,420.0 (9,155.0) 1,530.0
PHILIP MORRIS IN 0M8V LN 41,420.0 (9,155.0) 1,530.0
PHILIP MORRIS IN PMOR AV 41,420.0 (9,155.0) 1,530.0
PHILIP MORRIS IN 4I1 GZ 41,420.0 (9,155.0) 1,530.0
PHILIP MORRIS IN PM* MM 41,420.0 (9,155.0) 1,530.0
PHILIP MORRIS IN 4I1 QT 41,420.0 (9,155.0) 1,530.0
PHILIP MORRIS IN PMIZ IX 41,420.0 (9,155.0) 1,530.0
PHILIP MORRIS IN PMIZ EB 41,420.0 (9,155.0) 1,530.0
PLANET FITNESS-A PLNT1USD EU 1,523.5 (314.4) 298.7
PLANET FITNESS-A PLNT US 1,523.5 (314.4) 298.7
PLANET FITNESS-A 3PL TH 1,523.5 (314.4) 298.7
PLANET FITNESS-A 3PL GR 1,523.5 (314.4) 298.7
PLANET FITNESS-A 3PL QT 1,523.5 (314.4) 298.7
PLANET FITNESS-A PLNT1EUR EU 1,523.5 (314.4) 298.7
PRIORITY TECHNOL PRTH US 460.3 (100.6) 2.5
PURPLE INNOVATIO PRPL US 99.7 (3.4) 17.7
QUANTUM CORP QMCO US 172.1 (202.5) (27.1)
QUANTUM CORP QNT2 GR 172.1 (202.5) (27.1)
QUANTUM CORP QTM1EUR EU 172.1 (202.5) (27.1)
RADIUS HEALTH IN RDUS US 244.3 (0.1) 175.1
RADIUS HEALTH IN RDUSUSD EU 244.3 (0.1) 175.1
RADIUS HEALTH IN 1R8 GR 244.3 (0.1) 175.1
RADIUS HEALTH IN 1R8 TH 244.3 (0.1) 175.1
RADIUS HEALTH IN 1R8 QT 244.3 (0.1) 175.1
RADIUS HEALTH IN RDUSEUR EU 244.3 (0.1) 175.1
REATA PHARMACE-A RETAUSD EU 300.5 (33.5) 219.5
REATA PHARMACE-A RETAEUR EU 300.5 (33.5) 219.5
REATA PHARMACE-A RETA US 300.5 (33.5) 219.5
REATA PHARMACE-A 2R3 GR 300.5 (33.5) 219.5
RECRO PHARMA INC RAH GR 161.8 (18.7) 65.0
RECRO PHARMA INC REPH US 161.8 (18.7) 65.0
REVLON INC-A RVL1 GR 3,066.0 (1,187.2) (33.9)
REVLON INC-A REVUSD EU 3,066.0 (1,187.2) (33.9)
REVLON INC-A REV US 3,066.0 (1,187.2) (33.9)
REVLON INC-A RVL1 TH 3,066.0 (1,187.2) (33.9)
REVLON INC-A REVEUR EU 3,066.0 (1,187.2) (33.9)
RH RH US 2,387.8 (177.9) (267.3)
RH RS1 GR 2,387.8 (177.9) (267.3)
RH RH* MM 2,387.8 (177.9) (267.3)
RH RHEUR EU 2,387.8 (177.9) (267.3)
RIMINI STREET IN RMNI US 139.7 (130.2) (104.8)
ROSETTA STONE IN RST US 181.5 (9.4) (71.2)
ROSETTA STONE IN RS8 TH 181.5 (9.4) (71.2)
ROSETTA STONE IN RS8 GR 181.5 (9.4) (71.2)
ROSETTA STONE IN RST1EUR EU 181.5 (9.4) (71.2)
RR DONNELLEY & S DLLN TH 3,561.4 (270.8) 588.2
RR DONNELLEY & S RRDUSD EU 3,561.4 (270.8) 588.2
RR DONNELLEY & S RRDEUR EU 3,561.4 (270.8) 588.2
RR DONNELLEY & S DLLN GR 3,561.4 (270.8) 588.2
RR DONNELLEY & S RRD US 3,561.4 (270.8) 588.2
SALLY BEAUTY HOL SBH US 2,072.3 (70.5) 719.4
SALLY BEAUTY HOL SBHEUR EU 2,072.3 (70.5) 719.4
SALLY BEAUTY HOL S7V GR 2,072.3 (70.5) 719.4
SATSUMA PHARMACE STSA US - 0.0 0.0
SBA COMM CORP 4SB GZ 9,269.4 (3,339.3) (1,112.4)
SBA COMM CORP 4SB GR 9,269.4 (3,339.3) (1,112.4)
SBA COMM CORP SBAC US 9,269.4 (3,339.3) (1,112.4)
SBA COMM CORP SBJ TH 9,269.4 (3,339.3) (1,112.4)
SBA COMM CORP SBAC* MM 9,269.4 (3,339.3) (1,112.4)
SBA COMM CORP SBACEUR EU 9,269.4 (3,339.3) (1,112.4)
SCIENTIFIC GAMES SGMS US 7,932.0 (2,118.0) 852.0
SCIENTIFIC GAMES SGMSUSD EU 7,932.0 (2,118.0) 852.0
SCIENTIFIC GAMES TJW GR 7,932.0 (2,118.0) 852.0
SCIENTIFIC GAMES TJW TH 7,932.0 (2,118.0) 852.0
SCIENTIFIC GAMES TJW GZ 7,932.0 (2,118.0) 852.0
SEALED AIR CORP SDA GR 5,216.5 (341.2) (10.8)
SEALED AIR CORP SEE US 5,216.5 (341.2) (10.8)
SEALED AIR CORP SEE1EUR EU 5,216.5 (341.2) (10.8)
SEALED AIR CORP SEE1USD EU 5,216.5 (341.2) (10.8)
SEALED AIR CORP SDA TH 5,216.5 (341.2) (10.8)
SEALED AIR CORP SDA QT 5,216.5 (341.2) (10.8)
SERES THERAPEUTI MCRB1EUR EU 146.1 (18.0) 65.9
SERES THERAPEUTI 1S9 GR 146.1 (18.0) 65.9
SERES THERAPEUTI MCRB US 146.1 (18.0) 65.9
SHELL MIDSTREAM SHLXUSD EU 2,004.0 (767.0) 279.0
SHELL MIDSTREAM SHLX US 2,004.0 (767.0) 279.0
SHELL MIDSTREAM 49M GR 2,004.0 (767.0) 279.0
SHELL MIDSTREAM 49M TH 2,004.0 (767.0) 279.0
SIRIUS XM HO-BDR SRXM34 BZ 11,316.0 (489.0) (2,182.0)
SIRIUS XM HOLDIN RDO TH 11,316.0 (489.0) (2,182.0)
SIRIUS XM HOLDIN RDO GR 11,316.0 (489.0) (2,182.0)
SIRIUS XM HOLDIN SIRI US 11,316.0 (489.0) (2,182.0)
SIRIUS XM HOLDIN SIRIUSD EU 11,316.0 (489.0) (2,182.0)
SIRIUS XM HOLDIN SIRI TE 11,316.0 (489.0) (2,182.0)
SIRIUS XM HOLDIN RDO GZ 11,316.0 (489.0) (2,182.0)
SIRIUS XM HOLDIN SIRIEUR EU 11,316.0 (489.0) (2,182.0)
SIRIUS XM HOLDIN SIRI AV 11,316.0 (489.0) (2,182.0)
SIRIUS XM HOLDIN RDO QT 11,316.0 (489.0) (2,182.0)
SIX FLAGS ENTERT 6FE GR 2,938.1 (204.4) (66.6)
SIX FLAGS ENTERT SIXEUR EU 2,938.1 (204.4) (66.6)
SIX FLAGS ENTERT SIXUSD EU 2,938.1 (204.4) (66.6)
SIX FLAGS ENTERT SIX US 2,938.1 (204.4) (66.6)
SLEEP NUMBER COR SL2 GR 802.3 (164.5) (443.5)
SLEEP NUMBER COR SNBR US 802.3 (164.5) (443.5)
SLEEP NUMBER COR SNBREUR EU 802.3 (164.5) (443.5)
SPIRIT MTA REIT SMTA US 2,012.7 (24.6) 0.0
STARBUCKS CORP SRB GR 20,894.4 (4,319.0) 1,839.0
STARBUCKS CORP SRB TH 20,894.4 (4,319.0) 1,839.0
STARBUCKS CORP SBUX TE 20,894.4 (4,319.0) 1,839.0
STARBUCKS CORP SBUXEUR EU 20,894.4 (4,319.0) 1,839.0
STARBUCKS CORP SBUX IM 20,894.4 (4,319.0) 1,839.0
STARBUCKS CORP SBUX* MM 20,894.4 (4,319.0) 1,839.0
STARBUCKS CORP 0QZH LI 20,894.4 (4,319.0) 1,839.0
STARBUCKS CORP SBUX SW 20,894.4 (4,319.0) 1,839.0
STARBUCKS CORP SBUXUSD SW 20,894.4 (4,319.0) 1,839.0
STARBUCKS CORP SBUXUSD EU 20,894.4 (4,319.0) 1,839.0
STARBUCKS CORP SRB GZ 20,894.4 (4,319.0) 1,839.0
STARBUCKS CORP SBUX AV 20,894.4 (4,319.0) 1,839.0
STARBUCKS CORP SBUX CI 20,894.4 (4,319.0) 1,839.0
STARBUCKS CORP SBUX US 20,894.4 (4,319.0) 1,839.0
STARBUCKS CORP SRB QT 20,894.4 (4,319.0) 1,839.0
STARBUCKS-BDR SBUB34 BZ 20,894.4 (4,319.0) 1,839.0
STARBUCKS-CEDEAR SBUX AR 20,894.4 (4,319.0) 1,839.0
STEALTH BIOTHERA MITO US 15.5 (175.3) (27.3)
STEALTH BIOTHERA S1BA GR 15.5 (175.3) (27.3)
SUNDIAL GROWERS SNDL US 369.2 23.5 44.3
SUNDIAL GROWERS 14K GR 369.2 23.5 44.3
SUNDIAL GROWERS 14K TH 369.2 23.5 44.3
SUNDIAL GROWERS SNDLEUR EU 369.2 23.5 44.3
SUNDIAL GROWERS SNDLUSD EU 369.2 23.5 44.3
SUNDIAL GROWERS 14K GZ 369.2 23.5 44.3
SUNDIAL GROWERS 14K QT 369.2 23.5 44.3
SUNPOWER CORP SPWR US 1,938.9 (96.6) 240.6
SUNPOWER CORP S9P2 TH 1,938.9 (96.6) 240.6
SUNPOWER CORP S9P2 GR 1,938.9 (96.6) 240.6
SUNPOWER CORP SPWREUR EU 1,938.9 (96.6) 240.6
SUNPOWER CORP SPWRUSD EU 1,938.9 (96.6) 240.6
SUNPOWER CORP S9P2 GZ 1,938.9 (96.6) 240.6
SUNPOWER CORP S9P2 QT 1,938.9 (96.6) 240.6
SWITCHBACK ENE-A SBE US 0.4 (0.0) (0.3)
SWITCHBACK ENERG SBE/U US 0.4 (0.0) (0.3)
TAUBMAN CENTERS TCO US 4,485.1 (324.0) 0.0
TAUBMAN CENTERS TU8 GR 4,485.1 (324.0) 0.0
THUNDER BRIDGE A THBRU US 0.2 (0.0) (0.2)
THUNDER BRIDGE-A THBR US 0.2 (0.0) (0.2)
TRANSDIGM GROUP TDG US 17,702.6 (1,310.6) 4,030.6
TRANSDIGM GROUP T7D GR 17,702.6 (1,310.6) 4,030.6
TRANSDIGM GROUP TDG* MM 17,702.6 (1,310.6) 4,030.6
TRANSDIGM GROUP T7D TH 17,702.6 (1,310.6) 4,030.6
TRANSDIGM GROUP T7D QT 17,702.6 (1,310.6) 4,030.6
TRANSDIGM GROUP TDGEUR EU 17,702.6 (1,310.6) 4,030.6
TRIUMPH GROUP TG7 GR 2,823.3 (557.9) 208.3
TRIUMPH GROUP TGI US 2,823.3 (557.9) 208.3
TRIUMPH GROUP TGIUSD EU 2,823.3 (557.9) 208.3
TRIUMPH GROUP TGIEUR EU 2,823.3 (557.9) 208.3
TUPPERWARE BRAND TUP US 1,428.5 (163.1) (110.8)
TUPPERWARE BRAND TUP GR 1,428.5 (163.1) (110.8)
TUPPERWARE BRAND TUP1USD EU 1,428.5 (163.1) (110.8)
TUPPERWARE BRAND TUP SW 1,428.5 (163.1) (110.8)
TUPPERWARE BRAND TUP GZ 1,428.5 (163.1) (110.8)
TUPPERWARE BRAND TUP TH 1,428.5 (163.1) (110.8)
TUPPERWARE BRAND TUP1EUR EU 1,428.5 (163.1) (110.8)
TUPPERWARE BRAND TUP QT 1,428.5 (163.1) (110.8)
UNISYS CORP UIS EU 2,507.8 (1,213.7) 334.1
UNISYS CORP UIS US 2,507.8 (1,213.7) 334.1
UNISYS CORP UIS1 SW 2,507.8 (1,213.7) 334.1
UNISYS CORP UISCHF EU 2,507.8 (1,213.7) 334.1
UNISYS CORP UISEUR EU 2,507.8 (1,213.7) 334.1
UNISYS CORP USY1 TH 2,507.8 (1,213.7) 334.1
UNISYS CORP USY1 GR 2,507.8 (1,213.7) 334.1
UNISYS CORP USY1 GZ 2,507.8 (1,213.7) 334.1
UNISYS CORP USY1 QT 2,507.8 (1,213.7) 334.1
UNITI GROUP INC CSALUSD EU 4,790.4 (1,401.8) 0.0
UNITI GROUP INC 8XC TH 4,790.4 (1,401.8) 0.0
UNITI GROUP INC UNIT US 4,790.4 (1,401.8) 0.0
UNITI GROUP INC 8XC GR 4,790.4 (1,401.8) 0.0
VALVOLINE INC VVVUSD EU 2,000.0 (252.0) 389.0
VALVOLINE INC 0V4 GR 2,000.0 (252.0) 389.0
VALVOLINE INC 0V4 TH 2,000.0 (252.0) 389.0
VALVOLINE INC VVVEUR EU 2,000.0 (252.0) 389.0
VALVOLINE INC 0V4 QT 2,000.0 (252.0) 389.0
VALVOLINE INC VVV US 2,000.0 (252.0) 389.0
VECTOR GROUP LTD VGR GR 1,455.2 (606.7) 80.4
VECTOR GROUP LTD VGR US 1,455.2 (606.7) 80.4
VECTOR GROUP LTD VGREUR EU 1,455.2 (606.7) 80.4
VECTOR GROUP LTD VGRUSD EU 1,455.2 (606.7) 80.4
VECTOR GROUP LTD VGR TH 1,455.2 (606.7) 80.4
VECTOR GROUP LTD VGR QT 1,455.2 (606.7) 80.4
VERISIGN INC VRS GR 1,889.9 (1,425.2) 360.7
VERISIGN INC VRSN US 1,889.9 (1,425.2) 360.7
VERISIGN INC VRS TH 1,889.9 (1,425.2) 360.7
VERISIGN INC VRSN* MM 1,889.9 (1,425.2) 360.7
VERISIGN INC VRSNUSD EU 1,889.9 (1,425.2) 360.7
VERISIGN INC VRS SW 1,889.9 (1,425.2) 360.7
VERISIGN INC VRS GZ 1,889.9 (1,425.2) 360.7
VERISIGN INC VRSNEUR EU 1,889.9 (1,425.2) 360.7
VERISIGN INC VRS QT 1,889.9 (1,425.2) 360.7
VERISIGN INC-BDR VRSN34 BZ 1,889.9 (1,425.2) 360.7
W&T OFFSHORE INC WTI US 867.8 (335.0) 43.5
W&T OFFSHORE INC UWV GR 867.8 (335.0) 43.5
W&T OFFSHORE INC WTI1EUR EU 867.8 (335.0) 43.5
W&T OFFSHORE INC WTI1USD EU 867.8 (335.0) 43.5
W&T OFFSHORE INC UWV SW 867.8 (335.0) 43.5
W&T OFFSHORE INC UWV TH 867.8 (335.0) 43.5
WAYFAIR INC- A W US 2,182.1 (605.4) (276.6)
WAYFAIR INC- A 1WF QT 2,182.1 (605.4) (276.6)
WAYFAIR INC- A 1WF GR 2,182.1 (605.4) (276.6)
WAYFAIR INC- A WEUR EU 2,182.1 (605.4) (276.6)
WIDEOPENWEST INC WOW1USD EU 2,458.9 (280.8) (108.7)
WIDEOPENWEST INC WOW US 2,458.9 (280.8) (108.7)
WIDEOPENWEST INC WU5 TH 2,458.9 (280.8) (108.7)
WIDEOPENWEST INC WU5 GR 2,458.9 (280.8) (108.7)
WIDEOPENWEST INC WOW1EUR EU 2,458.9 (280.8) (108.7)
WIDEOPENWEST INC WU5 QT 2,458.9 (280.8) (108.7)
WINGSTOP INC WING1EUR EU 150.0 (216.4) 9.6
WINGSTOP INC EWG GR 150.0 (216.4) 9.6
WINGSTOP INC WING US 150.0 (216.4) 9.6
WINMARK CORP WINA US 48.5 (3.1) 12.6
WINMARK CORP GBZ GR 48.5 (3.1) 12.6
WORKHORSE GROUP WKHSUSD EU 35.7 (45.0) (26.2)
WORKHORSE GROUP WKHSEUR EU 35.7 (45.0) (26.2)
WORKHORSE GROUP 1WO TH 35.7 (45.0) (26.2)
WORKHORSE GROUP 1WO GZ 35.7 (45.0) (26.2)
WORKHORSE GROUP 1WO GR 35.7 (45.0) (26.2)
WORKHORSE GROUP WKHS US 35.7 (45.0) (26.2)
WW INTERNATIONAL WW6 GR 1,476.3 (766.4) (66.1)
WW INTERNATIONAL WTW AV 1,476.3 (766.4) (66.1)
WW INTERNATIONAL WW US 1,476.3 (766.4) (66.1)
WW INTERNATIONAL WTWUSD EU 1,476.3 (766.4) (66.1)
WW INTERNATIONAL WW6 TH 1,476.3 (766.4) (66.1)
WW INTERNATIONAL WW6 GZ 1,476.3 (766.4) (66.1)
WW INTERNATIONAL WTWEUR EU 1,476.3 (766.4) (66.1)
WW INTERNATIONAL WW6 QT 1,476.3 (766.4) (66.1)
WYNDHAM DESTINAT WD5 GR 7,466.0 (560.0) 335.0
WYNDHAM DESTINAT WYND US 7,466.0 (560.0) 335.0
WYNDHAM DESTINAT WD5 TH 7,466.0 (560.0) 335.0
WYNDHAM DESTINAT WYNUSD EU 7,466.0 (560.0) 335.0
WYNDHAM DESTINAT WD5 QT 7,466.0 (560.0) 335.0
WYNDHAM DESTINAT WYNEUR EU 7,466.0 (560.0) 335.0
YELLOW PAGES LTD YMI GR 334.0 (94.9) 40.9
YELLOW PAGES LTD YEUR EU 334.0 (94.9) 40.9
YELLOW PAGES LTD Y CN 334.0 (94.9) 40.9
YELLOW PAGES LTD YLWDF US 334.0 (94.9) 40.9
YRC WORLDWIDE IN YRCWUSD EU 1,907.3 (370.1) (19.5)
YRC WORLDWIDE IN YRCW US 1,907.3 (370.1) (19.5)
YUM! BRANDS -BDR YUMR34 BZ 4,674.0 (7,994.0) (64.0)
YUM! BRANDS INC TGR GR 4,674.0 (7,994.0) (64.0)
YUM! BRANDS INC TGR TH 4,674.0 (7,994.0) (64.0)
YUM! BRANDS INC YUM* MM 4,674.0 (7,994.0) (64.0)
YUM! BRANDS INC YUMUSD SW 4,674.0 (7,994.0) (64.0)
YUM! BRANDS INC YUMUSD EU 4,674.0 (7,994.0) (64.0)
YUM! BRANDS INC TGR GZ 4,674.0 (7,994.0) (64.0)
YUM! BRANDS INC YUM AV 4,674.0 (7,994.0) (64.0)
YUM! BRANDS INC TGR TE 4,674.0 (7,994.0) (64.0)
YUM! BRANDS INC YUM US 4,674.0 (7,994.0) (64.0)
YUM! BRANDS INC YUMEUR EU 4,674.0 (7,994.0) (64.0)
YUM! BRANDS INC TGR QT 4,674.0 (7,994.0) (64.0)
YUM! BRANDS INC YUM SW 4,674.0 (7,994.0) (64.0)
*********
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
firm for the term of the initial subscription or balance thereof
are $25 each. For subscription information, contact Peter A.
Chapman at 215-945-7000.
*** End of Transmission ***