/raid1/www/Hosts/bankrupt/TCR

/raid1/www/Hosts/bankrupt/TCR_Public/220804.mbx T R O U B L E D C O M P A N Y R E P O R T E R Thursday, August 4, 2022, Vol. 26, No. 215 Headlines 2111 ALBANY POST: Trustee Seeks to Hire Maltz Auctions as Broker 212 EAST 72ND: Unsecureds Will Get 10% in 72nd Ninth's Plan AGWAY FARM: Seeks to Tap Stretto as Administrative Advisor ALVARENGA TRANSPORT: Seeks to Hire Fear Waddell as Legal Counsel ANDREI J. INVESTORS: Case Summary & Four Unsecured Creditors APOGEE GROUP: Case Summary & Four Unsecured Creditors ARMSTRONG FLOORING: Gets Court Nod for $1-Mil. Trademark Settlement B&G PROPERTY: Georgia Properties Owner Files in Oregon BOXVANA LLC: Case Summary & 20 Largest Unsecured Creditors BOY SCOUTS OF AMERICA: Nearing Approval of $2.7-Billion Plan BRE/EVERBRIGHT M6: S&P Upgrades ICR to 'B', Outlook Stable BRGSSC LLC: $1.8M Sale to Smoke BBQ to Fund Plan Payments CAPITOL PRESORT: Files Chapter 11 Subchapter V Case CC HILLCREST: Hillcrest Apartments Files for Chapter 11 Bankruptcy CLEAN ENERGY: Seeks to Tap Rafool & Bourne as Bankruptcy Counsel DELCATH SYSTEMS: CEO Gerard Michel Has 6.3% Stake as of July 20 DESERT INSTITUTE: Taps Sacks Tierney as Bankruptcy Counsel EASTERDAY RANCHES: Creditors to Get $11M After Plan Confirmation FEI HUANG LLC: Case Summary & Four Unsecured Creditors FREDDIE MAC: Posts $2.5 Billion Net Income in Second Quarter FREE SPEECH SYSTEMS: Alex Jones Company Starts Subchapter V Case GA REAL ESTATE: Taps Rountree Leitman Klein & Geer as Legal Counsel GETSWIFT INC: Case Summary & 20 Largest Unsecured Creditors GOLD STANDARD: Committee Taps Emerald Capital as Financial Advisor GOLD STANDARD: Committee Taps Lowenstein Sandler as Lead Counsel GOLD STANDARD: Committee Taps Morris James as Delaware Counsel GREY BROWN: Voluntary Chapter 11 Case Summary HARBOR FREIGHT: S&P Alters Outlook to Negative, Affirms 'BB-' ICR HEALTHIER CHOICES: Incurs $1.35 Million Net Loss in Second Quarter INTERIOR COMMERCIAL: Voluntary Chapter 11 Case Summary J BOWERS: Files for Chapter 11 to Pursue Liquidation JOG'S LLC: Seeks to Hire Maria Martinez de Jesus as Accountant K&N ENGINEERING: Begins Debt Talks With Lenders MADISON SQUARE BOYS: Seeks to Hire Pillsbury as Insurance Counsel MADISON SQUARE BOYS: Taps Friedman as Litigation Counsel MADISON SQUARE BOYS: Taps Paul Weiss as Bankruptcy Counsel MADISON SQUARE BOYS: Taps Teneo Capital as Financial Advisor MDWERKS INC: Ronin Sells 10M Preferred Shares to Tradition Reserve MOUNTAIN PROVINCE: To Repurchase for Cancellation US$26.4M Notes NATIONAL CINEMEDIA: Extends CEO's Term Until 2025 NGL ENERGY: EVP of Strategic Initiatives to Quit in October OAXACA 1198 1ST AVENUE: Voluntary Chapter 11 Case Summary OAXACA AMSTERDAM: Voluntary Chapter 11 Case Summary OAXACA HALSEY: Voluntary Chapter 11 Case Summary PARKSLOPEDINER.COM INC: Taps Morrison Tenenbaum as Legal Counsel PEOPLE SPEAK: Unsecureds to Recover 20%-25% of Claims in Plan PRITHVI INVESTMENTS: Business Income & Sale Proceeds to Fund Plan PUERTO RICO: Coalition Asks Court to Withhold McKinsey Payments REPLICEL LIFE: Cell Therapy Manufacturing Inspected by Japan's PMDA REVLON INC: Judge Approves Add'l $200M of DIP Financing ROCKY MOUNTAIN: Taps Kutner Brinen Dickey Riley as Legal Counsel SABRE CORP: S&P Assigns 'B' Rating on New $400MM Term Loan B STONEMOR INC: To Release 2022 Second Quarter Results on August 11 SUN PACIFIC: Unit Structures Deal for Battery Service, Repair TORINO CAMPUS: Creditors to Get 100% After Plan Sale VERITAS FARMS: Names Alessandro Annoscia as President, CEO VIVOS REAL ESTATE: Case Summary & Eight Unsecured Creditors WEINBERG CAPITAL: Files for Chapter 11 Bankruptcy ZENTUARY GROUP: Seeks to Hire McIntyre as Bankruptcy Counsel ZHR BROS: Hits Chapter 11 Bankruptcy Protection [^] Recent Small-Dollar & Individual Chapter 11 Filings ********* 2111 ALBANY POST: Trustee Seeks to Hire Maltz Auctions as Broker ---------------------------------------------------------------- Fred Stevens, the trustee appointed in the Chapter 11 case of 2111 Albany Post Road Corp., seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to employ Maltz Auctions, Inc. as broker, marketing agent and auctioneer. The trustee needs a broker to assist in the marketing and sale of the Debtor's real property located at 182 Lindsay Ave., Buchanan, N.Y. Maltz Auctions has agreed to accept a commission in the amount of 6 percent of the purchase price, which shall be a buyer's premium to be paid by the successful bidder. Richard Maltz, a member of Maltz Auctions, disclosed in a court filing that the firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Richard B. Maltz Maltz Auctions, Inc. 39 Windsor Place Central Islip, NY 11722 Telephone: (516) 349-7022 Facsimile: (516) 349-0105 About 2111 Albany Post Road 2111 Albany Post Road Corp. owns a property in Montrose, N.Y., consisting of multi-family home, eight bungalows, an office building, and an industrial property valued at $3 million. 2111 Albany filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 22-22207) on Apr. 25, 2022, listing up to $10 million in assets and up to $1 million in liabilities. Samuel Dawidowicz serves as Subchapter V trustee. Judge Sean H. Lane oversees the case. Anne J. Penachio, Esq., at Penachio Malara, LLP is the Debtor's legal counsel. 212 EAST 72ND: Unsecureds Will Get 10% in 72nd Ninth's Plan ----------------------------------------------------------- Secured creditor 72nd Ninth LLC filed with the U.S. Bankruptcy Court for the Southern District of New York a Plan of Liquidation and a Disclosure Statement for Debtor 212 East 72nd Street LLC dated August 1, 2022. The Plan provides for the liquidation of the Debtor by selling the Debtor's only material asset, the Property, to generate proceeds to pay Allowed Claims of the Debtor's estate. The Proponent intends to sell the Property to obtain its highest and best price, in accordance with applicable provisions of the Bankruptcy Code. The closing of the Sale shall take place following the Auction in accordance with the Bid Procedures. In summary, the Broker will market the Property and conduct an Auction following confirmation and the lifting of the moratorium at which the Proponent will be entitled, within its discretion, to submit a credit bid in the Allowed amount of the 72nd Ninth Claim. The Closing shall take place after the Auction. The winning bidder at the auction (the "Successful Bidder") shall take title to the Property free and clear of all liens, claims and encumbrances pursuant to Sections 363(f) and 1123(a)(5) of the Bankruptcy Code, except that at the Successful Bidder's discretion, the Successful Bidder may take the Property subject to the Proponent's mortgage, which may be assigned to a lender to the Successful Bidder. In the event that the Available Cash on the Effective Date is insufficient to provide creditors of the Debtor's estate with the distributions required to be made on the Effective Date, any shortfall will be funded by the Proponent by either reducing the distribution to be made on account of the 72nd Ninth Secured Claim in Class 2, or through Cash to be provided by the Proponent with any such shortfall funding constituting an administrative claim against the Debtor's estate payable from Available Cash after the Effective Date. Class 1 consists of Other Secured Claims. The holders of the Allowed Class 1 Other Secured Claims will receive on account of such claims Available Cash sufficient to pay such Claims in full, on the Effective Date or as soon thereafter as is reasonably practicable. Class 2 consists of 72nd Ninth Secured Claim. The holder of the Allowed Class 2 72nd Ninth Secured Claim will receive on account of such claim on or about the Effective Date either the Property or a distribution of Available Cash up to payment in full of the 72nd Ninth Secured Claim; provided, however, that such payment may be reduced to the extent required to allow for payment in full on the Effective Date of the Claims in Class 1, Class 3, the Statutory Fees and Administrative Claims and any other payments required to be made under the Plan on the Effective Date. Class 3 consists of Priority Claims. Subject to the provisions of Article 8 of the Plan with respect to Disputed Claims, and with the exception of holders of Priority Claims who waive any distribution under the Plan on account of their Class 3 Priority Claims, each holder of an Allowed Class 3 Priority Claim will receive on or about the Effective Date on account of such claim a distribution from Available Cash that constitutes payment in full on the Effective Date. Class 4 consists of General Unsecured Claims. Each holder of an Allowed Class 4 General Unsecured Claim will receive on account of such claim a pro rata distribution of Available Cash after all payments to Class 1 Claims, the Class 2 Claim, the Class 3 Claims, and Statutory Fees, and Administrative Claims, with interest from the Petition Date onwards at the rates set forth in the applicable Notes as to Claims in Class 2 and interest from the Petition Date onwards at the Federal Judgment Rate as to Claims in Class 1, Class 3 and Class 4, with interest as to all such Classes being paid in full prior to any payments being made on account of principal; provided, however, that if the Proponent is the Successful Bidder based on a credit bid, the Proponent will provide a distribution of $13,500.00 to holders of Claims in Class 4 other than the 72nd Ninth Unsecured Claim, the Proponent agreeing to waive the right to receive any distribution from such $13,500.00 as a member of this Class. The allowed unsecured claims total $135,000.00. This Class will receive a distribution of 10% of their allowed claims. Holders of Allowed Class 5 Interests shall continue to retain and maintain such Interests in the Debtor and the Post-Confirmation Debtor following the Effective Date of the Plan in the same percentages as existed as of the Petition Date. Additionally, to the extent that there is any Available Cash after full payment of all Statutory Fees, Administrative Claims and all Claims, with interest from the Petition Date onwards at the rates set forth in the applicable Notes as to the Claim in Class 2, and interest from the Petition Date onwards at the Federal Judgment Rate as to Claims in Class 1, Class 3, and Class 4, with interest as to all such Classes being paid in full prior to any payments being made on account of principal, each holder of an Allowed Class 5 Interest shall receive such remaining Available Cash, pro rata, in accordance with their respective percentage interests in the Debtor. The Plan will be funded by monies made available from the Sale of the Property. However, the Proponent shall advance such funds as are necessary to make payments required under the Plan if the Sale proceeds are insufficient to fund all payments required under the Plan. A full-text copy of the Disclosure Statement dated August 1, 2022, is available at https://bit.ly/3JpqvdC from PacerMonitor.com at no charge. Attorneys for 72nd Ninth LLC: KRISS & FEUERSTEIN LLP 360 Lexington Avenue, Suite 1200 New York, NY 10017 212661-2900 Jerold C. Feuerstein, Esq. Daniel N. Zinman, Esq. Stuart L. Kossar, Esq. About 212 East 72nd Street 212 East 72nd Street, LLC owns and operates a townhome located at 212 East 72nd St., N.Y. 212 East 72nd Street filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No. 22-10351) on March 22, 2022, listing as much $50 million in both assets and liabilities. Evanthia Koutis, member, signed the petition. Judge Lisa G. Beckerman oversees the case. Leo Fox, Esq., in New York, represents the Debtor in its Chapter 11 case. AGWAY FARM: Seeks to Tap Stretto as Administrative Advisor ---------------------------------------------------------- Agway Farm & Home Supply, LLC seeks approval from the U.S. Bankruptcy Court for the District of Delaware to employ Stretto, Inc. as administrative advisor. Stretto will render these services: (a) assist with, among other things, solicitation, balloting, and tabulation of votes and prepare any related reports, as required in support of confirmation of a Chapter 11 plan; (b) prepare an official ballot certification and, if necessary, testify in support of the ballot tabulation results; (c) assist with the preparation of the Debtors' schedules of assets and liabilities and statements of financial affairs and gather data in conjunction therewith; (d) provide a confidential data room; (e) manage and coordinate any distributions pursuant to a Chapter 11 plan if designated as distribution agent under such plan; and (f) provide such other solicitation, balloting and other administrative services. The hourly rates of Stretto's professionals are as follows: Consultant $70 - $200 Director/Managing Director $210 - $250 Solicitation Associate $230 Director of Securities & Solicitations $250 In addition, the firm will seek reimbursement for expenses incurred. Prior to the petition date, the Debtor provided Stretto an advance in the amount of $25,000. Sheryl Betance, a senior managing director of corporate restructuring at Stretto, disclosed in a court filing that the firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Sheryl Betance Stretto, Inc. 410 Exchange, Ste. 100 Irvine, CA 92602 Telephone: (714) 716-1872 Email: sheryl.betance@stretto.com About Agway Farm & Home Supply Agway Farm & Home Supply LLC -- https://www.agway.com/ -- is a one-stop shop for lawn, garden, bird, pet and farm products. It is based in Richmond, Va. Agway Farm & Home Supply sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 22-10602) on July 6, 2022, listing $10 million to $50 million in both assets and liabilities. Jay Quickel, president and chief executive officer, signed the petition. Judge John T. Dorsey oversees the case. The Debtor tapped Jeffrey R. Waxman, Esq., at Morris James, LLP as legal counsel, and Stretto, Inc. as claims and noticing agent and administrative advisor. ALVARENGA TRANSPORT: Seeks to Hire Fear Waddell as Legal Counsel ---------------------------------------------------------------- Alvarenga Transport, LLC seeks approval from the U.S. Bankruptcy Court for the Eastern District of California to employ Fear Waddell, PC as its bankruptcy counsel. Fear Waddell will render these services: (a) consult with the Debtor concerning its present financial situation, realistic achievable goals, and the efficacy of various forms of bankruptcy as a means to achieve its goals; (b) prepare the documents necessary to commence the bankruptcy case; (c) advise the Debtor concerning its duties in this Chapter 11 Subchapter V case; (d) identify, prosecute, and defend claims and causes of actions assertable by or against the estate; (e) prepare legal documents; (f) if necessary, prepare and prosecute such pleadings as complaints; and (g) take all necessary action to protect and preserve the estate. The firm received pre-bankruptcy retainers in the total amount of $35,000 from the Debtor. The firm estimates that fees will probably be at least $60,000. It will also seek reimbursement for expenses incurred. As disclosed in court filings, Fear Waddell is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Peter L. Fear, Esq. Gabriel J. Waddell, Esq. Peter A. Sauer, Esq. Fear Waddell, P.C. 7650 North Palm Avenue, Suite 101 Fresno, CA 93711 Telephone: (559) 436-6575 Facsimile: (559) 436-6580 Email: pfear@fearlaw.com gwaddell@fearlaw.com psauer@fearlaw.com About Alvarenga Transport Alvarenga Transport, LLC filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Calif. Case No. 22-11226) on July 18, 2022, listing as much as $1 million in both assets and liabilities. Judge Jennifer E. Niemann oversees the case. Fear Waddell, PC serves as the Debtor's legal counsel. ANDREI J. INVESTORS: Case Summary & Four Unsecured Creditors ------------------------------------------------------------ Debtor: Andrei J. Investors, LLC 3 Brecia Court Lafayette, NJ 07848 Business Description: The Debtor is primarily engaged in activities related to real estate development. Chapter 11 Petition Date: August 3, 2022 Court: United States Bankruptcy Court District of New Jersey Case No.: 22-16127 Debtor's Counsel: Philip Guarino, Esq. GUARINO & CO. LAW FIRM, LLC 300 Main Street, Suite 552 Madison, NJ 07940 Email: 973/615-1791 E-mail: guarinolaw@gmail.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $500,000 to $1 million The petition was signed by David Hook as managing member. A copy of the Debtor's list of four unsecured creditors is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/HI7TLYI/Andrei_J_Investors_LLC__njbke-22-16127__0002.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/42SRUUA/Andrei_J_Investors_LLC__njbke-22-16127__0001.0.pdf?mcid=tGE4TAMA APOGEE GROUP: Case Summary & Four Unsecured Creditors ----------------------------------------------------- Debtor: Apogee Group, LLC 1315 Ashford Avenue, PH-1 San Juan, PR 00907 Business Description: The Debtor is primarily engaged in renting and leasing real estate properties. Chapter 11 Petition Date: August 2, 2022 Court: United States Bankruptcy Court District of Puerto Rico Case No.: 22-02268 Judge: Hon. Mildred Caban Flores Debtor's Counsel: Hector Eduardo Pedrosa Luna, Esq. THE LAW OFFICES OF HECTOR EDUARDO PEDROSA LUNA 33 Calle Bolivia, Suite 500 San Juan, PR 00917 Tel: 787-920-7983 Email: hectorpedrosa@gmail.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Elan P. Colen-Roger as managing member. A full-text copy of the petition containing, among other items, a list of the Debtor's four unsecured creditors is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/5CXXXEY/APOGEE_GROUP_LLC__prbke-22-02268__0001.0.pdf?mcid=tGE4TAMA ARMSTRONG FLOORING: Gets Court Nod for $1-Mil. Trademark Settlement ------------------------------------------------------------------- Leslie A. Pappas of Law360 reports that bankrupt Armstrong Flooring Inc. is moving ahead with sales of its assets in China, Australia and New Zealand after getting a bankruptcy court's approval for a $1 million settlement with the company's former parent Armstrong World Industries Inc. over trademark rights. As reported in the TCR, Armstrong Flooring sought approval of a $1 million settlement with Armstrong World Industries, Inc. and AWI Licensing, LLC (collectively, "AWI") on concerns that a pending appeal by AWI could derail Armstrong Flooring's Chapter 11 sales. A bankruptcy court order directed AWI to deliver consents for the assignment of AFI's trademark license to the buyers prior to each closing. But AWI filed an appeal and a stay motion, casting doubt casting a shadow and uncertainty over the finality of the bankruptcy order. As the settlement resolves AWI's objections on the assignment of the licenses to use the "Armstrong" trademarks, Armstrong Flooring can now complete $203.3 million in sales of its businesses in North America, China and Australia. About Armstrong Flooring Armstrong Flooring, Inc. (NYSE: AFI) -- https://www.armstrongflooring.com/ -- is a leading global manufacturer of flooring products and one of the industry's most trusted and celebrated brands. The company continually builds on its resilient, 150-year legacy by delivering on its mission to create a stronger future for customers through adaptive and inventive solutions. Headquartered in Lancaster, Pennsylvania, Armstrong Flooring safely and responsibly operates eight manufacturing facilities globally. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 22-10426) on May 8, 2022. In the petition signed by Michel S. Vermette, president and chief executive officer, the Debtor disclosed $517,000,000 in assets and $317,800,000 in liabilities. Judge Mary F. Walrath oversees the case. Skadden, Arps, Slate, Meagher and Flom, LLP is the Debtor's counsel. Riveron Consulting, LP is the financial advisor, Houlihan Lokey is the investment banker, and Epiq Corporate Restructuring, LLC, is the claims and noticing agent and administrative advisor. B&G PROPERTY: Georgia Properties Owner Files in Oregon ------------------------------------------------------ B&G Property Investments LLC has sought bankruptcy protection in Oregon. The Debtor owns two parcels of land in West Point, Georgia. The "West Point" site is located at 7521 West Point Rd., West Point, Georgia 31833; this site is approximately 34 acres zoned for mixed use. The site currently has a single unoccupied residential structure on the property. The "Webb" site is located at 170 Webb Rd., West Point, Georgia 31833; this site is approximately 34 acres zoned for mixed use. The site currently has a single unoccupied residential structure on the property. The Debtor also owns West Point, Georgia Development II, LLC (“WPGD”); WPGD owns a 1-acre parcel of land in West Point, Georgia. The site currently has a single residential structure on the property. The COVID-19 pandemic created havoc with global lumber markets. This quadrupling of lumber prices, together with the lagging rise in rental rates, prevented the Debtor from obtaining funding. On June 27, 2022, secured creditor Launchpad Financial, LLC gave notice of default of that certain Secured Promissory Note dated March 18, 2020 secured against the real property. On July 1, 2022, Launchpad Financial gave notice of a foreclosure against the real property "on the first Tuesday in August, 2022" (August 2, 2022). The Debtor is committed to undertaking efforts in Debtor's Chapter 11 case to effectively reorganize, including by refinancing debt, taking additional equity investment to pay debt and obtain financing to construct the planned apartments, or a sale of the business as a going concern. About B&G Property Investments LLC B&G Property Investments LLC is a limited liability company in Oregon. B&G Property Investments LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ore. Case No. 22-60998) on July 29, 2022. In the petition filed by Keith Boyd, as manager, the Debtor estimated assets and liabilities between $10 million and $50 million. Christopher N. Coyle, of Vanden Bos & Chapman, LLP, is the Debtor's counsel. BOXVANA LLC: Case Summary & 20 Largest Unsecured Creditors ---------------------------------------------------------- Debtor: Boxvana, LLC 354 Honey Branch Industrial Park Debord, KY 41214 Business Description: Boxvana offers a variety of ready to ship and customizable products using LitePan, a high-performance composite that transforms modular building with its light weight and intense durability. Chapter 11 Petition Date: August 2, 2022 Court: United States Bankruptcy Court Eastern District of Kentucky Case No.: 22-70232 Judge: Hon. Gregory R. Schaaf Debtor's Counsel: Dean A. Langdon, Esq. DELCOTTO LAW GORUP PLLC 200 North Upper St. Lexington, KY 40507 Tel: (859) 231-5800 Fax: (859) 281-1179 Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Harrison Langley as manager/member. 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 PacerMonitor.com at: https://www.pacermonitor.com/view/ORXPO6A/Boxvana_LLC__kyebke-22-70232__0001.0.pdf?mcid=tGE4TAMA BOY SCOUTS OF AMERICA: Nearing Approval of $2.7-Billion Plan ------------------------------------------------------------ After weeks of testimony from abuse experts, financial advisers and insurance specialists, Judge Laurie Silverstein entered a 281-page opinion approving most parts of Boy Scouts' Chapter 11 plan. The Plan includes a series of agreements that together provide the basis for 82,209 claimants asserting abuse to seek compensation from a settlement trust with assets expected to pay them in full. The trust assets include the $1.656 billion contributed by the settling insurers, the $665 million contributed by Local councils, the $30 million contributed by the United Methodist Entities, and the BSA's, Local Councils' and the Contributing and Participating Chartered Organizations' rights in BSA's insurance policies and their own policies. The bulk of the fund would come from the BSA's two largest insurers, Century Indemnity and The Hartford, which reached settlements calling for them to contribute $800 million and $787 million, respectively. Overruling objections by the Guam Committee, the Lujan Claimants, the D&V Claimants and the U.S. Trustee, the judge ruled that there is statutory authority to grant third-party nonconsensual releases. She noted that the Third Circuit has permitted nonconsensual third-party releases in narrow circumstances where the releases are fair and necessary to the reorganization. The judge acknowledged that the releases and injunction are the cornerstone of the Plan -- without the settlement and monetary contributions from parties, the case would devolve into a morass of coverage of litigation. "As both the Debtors and the TCC stated over a year ago, without the potential for third-party releases, a BSA plan spirals into a "Death trap" of litigation with minimal recoveries in sight. Now the contributions the TCC contemplated have been negotiated and the recoveries contemplated by this plan to holders of Abuse Claims are assured. Many survivors have been waiting for thirty, forty or even fifty years to tell their stories and receive a meaningful recovery. This Plan makes that happens." While the judge approved most parts of the plan, she did raise concerns with some provisions, concluding in her July 28 opinion that the Boy Scouts has "decisions to make" regarding the plan. She indicated that she is willing to hold a status conference upon a request by attorneys for the Boy Scouts. A copy of the decision is available at https://www.pacermonitor.com/view/JUXU4JQ/Boy_Scouts_of_America__debke-20-10343__10136.0.pdf?mcid=tGE4TAMA About Boy Scouts of America The Boy Scouts of America -- https://www.scouting.org/ -- is a federally chartered non-profit corporation under title 36 of the United States Code. Founded in 1910 and chartered by an act of Congress in 1916, the BSA's mission is to train youth in responsible citizenship, character development, and self-reliance through participation in a wide range of outdoor activities, educational programs, and, at older age levels, career-oriented programs in partnership with community organizations. Its national headquarters is located in Irving, Texas. The Boy Scouts of America and affiliate Delaware BSA, LLC, sought Chapter 11 protection (Bankr. D. Del. Lead Case No. 20-10343) on Feb. 18, 2020, to deal with sexual abuse claims. Boy Scouts of America was estimated to have $1 billion to $10 billion in assets and at least $500 million in liabilities as of the bankruptcy filing. The Debtors have tapped Sidley Austin LLP as their bankruptcy counsel, Morris, Nichols, Arsht & Tunnell LLP as Delaware counsel, and Alvarez & Marsal North America, LLC, as financial advisor. Omni Agent Solutions is the claims agent. The U.S. Trustee for Region 3 appointed a tort claimants' committee and an unsecured creditors' committee on March 5, 2020. The tort claimants' committee is represented by Pachulski Stang Ziehl & Jones, LLP, while the unsecured creditors' committee is represented by Kramer Levin Naftalis & Frankel, LLP. BRE/EVERBRIGHT M6: S&P Upgrades ICR to 'B', Outlook Stable ---------------------------------------------------------- S&P Global Ratings raised its issuer credit rating on BRE/Everbright M6 Borrower LLC (doing business as Motel 6) to 'B' from 'B-'. S&P also raised its issue-level rating on the company's senior secured credit facility to 'B' from 'B-', in line with the higher issuer credit rating. The stable outlook reflects S&P's expectations that Motel 6 will maintain a comfortable cushion over the next two years compared to our S&P Global Ratings'-adjusted debt leverage downgrade threshold of 7.0x. S&P said, "The upgrade of Motel 6 to 'B' reflects our updated base case for operating performance and debt reduction that could reduce pro forma leverage to the mid-5x area in 2022. Our updated base case forecast reflects good anticipated operating performance in 2022 and significant debt repayment from anticipated hotel sale proceeds. Strong rate growth and ongoing strong consumer demand for travel support our expectation that Motel 6's systemwide average daily rate will increase in the mid-single digits and occupancy will be stable this year, resulting in good revenue per available room (RevPAR) growth in the mid-single digits compared to 2021. As of August 2022, four of the ten tranches (A,B, C, and D) of the commercial mortgage-based securities (CMBS) term loan have been fully repaid and ratings discontinued, and it is to our understanding the company's financial sponsor Blackstone is expected to complete the sale of a vast majority of its Motel 6 branded owned hotels. The company will maintain franchise agreements for the Motel 6 brand with the new real estate owners. In addition, we expect the company will ultimately fully repay its CMBS debt outstanding by the end of 2022 and repay its related party loan held by the parent fund in April 2022 from sale proceeds generated this year. As a result, we expect that our measure of pro forma leverage could improve to the mid-5x area in 2022, which is a good cushion compared with our 7x downgrade threshold at the current 'B' rating. Motel 6's shift to a pure franchising model will likely result in less volatile operating performance over the lodging cycle. The mix shift toward franchised rooms and away from owned rooms will result in higher consolidated EBITDA margin and can partially reduce its exposure to the higher comparable earnings volatility associated with hotel ownership. S&P said, "We generally view a franchisor's cash flow as less volatile over the cycle because the franchisor does not incur the relatively fixed operating costs of owning the hotels. Additionally, Motel 6's franchise agreements typically stipulate that existing and prospective franchisees are responsible for covering the operating costs and capital investments in the hotels in its system. We also expect that Motel 6's operating performance will typically be less volatile than the broader lodging industry as the economy segment has shown more stability through the pandemic and previous economic downturns." S&P said, "Our rating also reflects Motel 6's smaller scale relative to some rated peers, lack of a loyalty program, and the low barriers to entry in the economy segment, which are partially offset by its less volatile performance, good brand recognition in the economy segment, significant geographic diversity, and track record of successful franchise growth. We estimate approximately $50 million of pro forma 2022 consolidated EBITDA (excluding owned hotel EBITDA generated during the year), and as a result, the company is significantly smaller than its rated lodging peers. Additionally, the approximately 117,000 rooms in its system compare unfavorably with the portfolios of larger franchisors like Choice and Wyndham. The portfolios of these larger peers are also diversified across more brands that target multiple price points. Additionally, Motel 6 lacks a guest loyalty program and we believe that a strong loyalty program typically enhances the value of a system's brands because it encourages customers to stay inside the network and drives direct bookings, which feature higher margins than bookings through other channels such as online travel agencies (OTAs). However, we understand that Motel 6 has intentionally forgone a loyalty program because it does not believe the value proposition would be attractive enough to its predominately price-sensitive guests to justify the incremental costs to its hotel owner franchisees." Over the past several years, Motel 6's strategy has involved removing unnecessary items from rooms that do not materially affect its guests' experience, such as art and drapes, to reduce costs for its hotel owners. This strategy appears to have resonated with consumers because it supported a 6.5% compound annual increase in the company's RevPAR from its owned assets in 2012-2019. Additionally, Motel 6 has stated that it expanded its franchise system by about 10% annually since 2012, both through conversions and new developments, which demonstrates its perceived value proposition to its franchisees. Even as the company has sold properties from its owned portfolio, many of the buyers choose to remain in the Motel 6 system because they believe in its value proposition. However, the company's successful but heavy reliance on pricing as its principle competitive advantage has caused it to face significant competition from other low-price competitors given the relatively low barriers to entry in the economy segment compared with the protections afforded to brands that differentiate their offerings by amenities and service levels. Still, Motel 6's brand is widely recognized and it is a leading provider in the economy lodging segment. Furthermore, the company is currently implementing the next generation of renovations, which will further streamline its room design to remove unneeded cost and focus on guest essentials (i.e., bed, TV, and shower), which S&P believes could improve its ability to attract price-sensitive guests and generate new franchise agreements. Motel 6's total portfolio of hotels is well diversified across the U.S. and Canada. S&P's rating also incorporates our expectation that the company's operating performance will be less volatile over the cycle than the performance of the broader lodging industry. This incorporates the strong improvement in its RevPAR from 2012-2019, the relatively modest decline in its RevPAR in 2020, and its strong recovery in 2021 and 2022. Motel 6's brand recognition, price segment, and customer demographics could also support reduced volatility in its operating performance. Blackstone as the financial sponsor poses uncertainty about future financial policy. S&P said, "We view the company's ownership by Blackstone as a financial risk given the tendency of financial sponsors to use available leverage capacity to fund acquisitions, investments, or cash distributions. Historically Blackstone has taken an aggressive financial policy approach incorporating high leverage in many of its investments to maximize equity returns. We believe there is currently no set financial policy in place by Blackstone, which poses uncertainty about Motel 6's future leverage. A leveraging transaction could pose significant pressure on the rating." Macroeconomic factors could pose risks to Motel 6's potential growth. S&P said, "Motel 6's exposure to leisure travel is vulnerable to the spread of other potential COVID-19 variants that could cause revenue and EBITDA to underperform our base case forecast. Inflationary or other cost pressures could also slow Motel 6's EBITDA growth. Furthermore, the Russia-Ukraine conflict and its potential to expand could disrupt energy markets further and add to inflationary pressures. The U.S. Federal Reserve could continue interest rate hikes while supply chain disruptions worsen and prices climb, making the economic growth trajectory uncertain this year. We assess recession risk at 45% within a 40%-50% band, reflecting a larger spike in prices with even more aggressive Fed policy heading into 2023." The stable outlook reflects S&P's expectations that leverage will remain well below its 7.0x downgrade threshold at the 'B' rating through 2022 and 2023. S&P said, "While unlikely based on our base case assumptions, we could lower our ratings if Motel 6 unexpectedly underperforms our operating assumptions such that it sustains adjusted debt to EBITDA above 7x, or EBITDA coverage of interest expense of less than 2x. Significant debt-financed acquisitions, a large distribution, or leveraged buyout of the company, could also lead to a downgrade. "We could raise the ratings if Motel 6's owner Blackstone adopts a financial policy of sustained adjusted debt to EBITDA less than 5x." ESG credit indicators: E-2, S-3, G-3 S&P said, "Social factors are a moderately negative consideration in our credit rating analysis of Motel 6, reflected in the company's depressed RevPAR in 2020 and early 2021. The economy lodging segment's RevPAR recovery was notably faster than higher price segments, and Motel 6 improved to about 2019 RevPAR at the end of 2021. Although the pandemic was an extreme disruption not likely to recur frequently, safety and health scares are an ongoing risk. Motel 6 had mitigating factors compared to other lodging peers including majority exposure to the economy hotel segment, which was more resilient because of demand by short-term leisure travelers, transient workers, and essential personnel. Governance factors, on a net basis, are a moderately negative consideration. Our assessment of the company's financial risk profile as highly leveraged reflects corporate decision-making that prioritizes the interests of controlling owners, in line with our view of most rated entities owned by private-equity sponsors. Our assessment also reflects generally finite holding periods and a focus on maximizing shareholder returns." BRGSSC LLC: $1.8M Sale to Smoke BBQ to Fund Plan Payments --------------------------------------------------------- BRGSSC, LLC filed with the U.S. Bankruptcy Court for the Western District of Texas a Disclosure Statement dated July 31, 2022. The Debtor is a Texas Limited Liability Company that was formed on June 21, 2012. Its principal place of business is located at 18745 Redland Rd., San Antonio, Texas, 78259. The Debtor currently operates a property rental business. The Debtor filed a Plan of Reorganization in the prior case which proposed to sell the Debtor's property to Burnwood 68, LLC, who was leasing the property from the Debtor at the time. However, Burnwood 68, LLC defaulted on both its contract to purchase the property and on its lease agreement with the Debtor. Consequently, the Debtor was unable to sell the property in a timely matter and the bankruptcy case was dismissed. The major factor contributing to the Debtor's bankruptcy was loss of its rental income for most of 2020 and 20021 due to government mandated closures and the Covid-19 Pandemic. As a result of these factors, the Debtor was unable to remain current on its existing mortgage obligations. When the mortgage lender posted the Debtor's real property for foreclosure, the Debtor was forced to filed for protection under the Title 11 of the Bankruptcy Code to reorganize its debts on July 5, 2022. Since filing for Bankruptcy protection, the Debtor continued to operate its property rental business in San Antonio, Texas. The Debtor was able to enter into a lease agreement with Smoke BBQ + Skybar 78202, LLC who will be paid the Debtor rental income of $15,000.00 per month. That rental income will be used by the Debtor to make adequate protection payments to its mortgage lender. During this Chapter 11 the Debtor negotiated a contact of sale with BBQ + Skybar 78202, LLC, for the purchase of the Debtor's real property at 18745 Redland Rd., San Antonio, Texas for the sum $1,759,000.00. A motion to approve the sale has been filed with the Bankruptcy Court but a ruling on the motion has yet to be made. The Debtor proposes to pay all Priority Creditors, Secured Creditors and General Unsecured Creditors of their claims in full. The Debtor proposes to fund its Plan through the liquidation of its assets, primarily the real property at 18745 Redland Rd., San Antonio, Texas. The net proceeds of the sale shall be used to pay the existing lienholders on the property and to fund the Plan payments to other Creditors. Class I consists of the Allowed Secured Claim of the Great Central Mortgage Acceptance Co. Ltd. The Claim in this class totals approximately $1,212,791.00 and is secured by a first lien on the real property at 18745 Redland Rd., San Antonio, Texas. The Claims of Great Central Mortgage Acceptance Co. Ltd shall be paid in full on or before January 31, 2024 from the sale of the real property. Great Central Mortgage Acceptance Co. Ltd shall retain its lien on the Debtor's real property until the claim is paid in full. Class I is Impaired. Class II consists of the Allowed Secured Claim of the Investors Note Servicing, Inc. The Claim in this class totals approximately $470,138.00 and is secured by a second lien on the real property at 18745 Redland Rd., San Antonio, Texas. The Claim of Investors Note Servicing, Inc. shall be paid in full on or before January 31, 2024 from the sale of the real property. Investors Note Servicing, Inc. shall retain its lien on the Debtor's real property until the claim is paid in full. Class II is Impaired. Class III consists of the Allowed Secured Claim of Bexar County Texas. The Claim in this class totals approximately $41,171.00 and is secured by a second lien on the real property at 18745 Redland Rd., San Antonio, Texas. The Claim of Bexar County Texas shall be paid in equal monthly installments of $3431,00 beginning on the Effective Date. Bexar County, Texas will receive interest at the rate of 12% per annum. Bexar County, Texas shall retain its liens on the remaining Bexar County real property until its claims are paid in full. Class III is Impaired. Class IV consists of All Allowed General Unsecured Claims of creditors, which are not otherwise classified. This class totals $56,250.00, excluding the claim of the equity interest holder of the Debtor, who will receive no payment under this Plan. This class shall be paid from the net proceeds from the sale of the Debtor's real property to the extent that such proceeds remain after payment of all lienholders on the property. Class IV is Impaired. Class V consists of the holder of the equity interest in the Debtor shall his interest in the Debtor. Class IV is Unimpaired. The Debtor, as reorganized, will sell the property of the Estate. Specifically, the Debtor proposes to sell the real property located at 18745 Redland Rd., San Antonio, Texas 78259 to Smoke BBQ + Skybar 78202, LLC, the existing lease tenant on the property, for the sum of $1,759,000.00. The net proceeds of the sale shall be used to pay the existing lienholders on the property and to fund the Plan payments to other Creditors. Based upon the projection of net proceeds from the sale of the property, the Debtor will have sufficient funds to pay to Creditors after Confirmation of the Debtor's Plan. The feasibility of the Debtor's Plan is directly dependent upon the completion of the pending sale of the Debtor’s real property at 18745 Redland Rd., San Antonio, Texas to its tenant, Smoke BBQ + Skybar 78202, LLC. The Plan is feasible as a result of the income that will be generated from the leasing and sale of the real property. A full-text copy of the Disclosure Statement dated July 31, 2022, is available at https://bit.ly/3vAqFcp from PacerMonitor.com at no charge. Attorney for Debtor: David T. Cain, Esq. 8626 Tesoro Dr., Ste. 811 San Antonio, TX 78217 Telephone: (210) 308-0388 Facsimile: (210) 503-5033 Email: caindt@swbell.net About BRGSSC LLC BRGSSC LLC is a Texas Limited Liability Company that was formed on June 21, 2012. It currently operates a property rental business. It leases its real property at 18745 Redland Rd., San Antonio, Texas. Prior to leasing the property, the company operated a restaurant called The Pod on the real property from January 2017 until June 2018. As a result of the loss of its rental income for most of 2020 due to government-mandated closures and the Covid-19 Pandemic, the Company was unable to remain current on its existing mortgage obligations. To stop foreclosure, BRGSSC, LLC filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. W.D. Tex. Case No. 21-50548) on May 3, 2021, listing under $1 million in both assets and liabilities. Gerardo Briseno-Richards, president, signed the petition. Judge Craig A. Gargotta oversees the case. David T. Cain, Esq., serves as the Debtor's legal counsel. CAPITOL PRESORT: Files Chapter 11 Subchapter V Case --------------------------------------------------- Capitol Presort Services LLC has sought bankruptcy protection in Pennsylvania. The Debtor filed as a small business debtor seeking relief under Subchapter V of Chapter 11 of the Bankruptcy Code. The Debtor is a corporation engaged in mail presorting services. The Debtor has sought and obtained approval of its motions to pay prepetition employee payroll, grant adequate assurance to utilities an use cash collateral. According to court filings, Capitol Presort estimates between 1 and 49 unsecured creditors. The petition states funds will be available to unsecured creditors. About Capitol Presort Services Capitol Presort Services LLC -- https://www.capitolpresort.com -- is a mailing service in Pennsylvania. On July 29, 2022, Capitol Presort Services LLC filed a voluntary petition for relief under chapter 11 of the Bankruptcy Code (Bankr. M.D. Pa. Case No. 22-01406). The Debtor has elected to proceed under subchapter V of chapter 11. In the petition filed by Philip E. Gray, as member, the Debtor estimated assets between $500,000 and $1 million and liabilities between $500,000 and $1 million. Lisa Ann Rynard has been appointed as Subchapter V trustee. Robert E Chernicoff, of Cunningham and Chernicoff PC, is the Debtor's counsel. CC HILLCREST: Hillcrest Apartments Files for Chapter 11 Bankruptcy ------------------------------------------------------------------ CC Hillcrest LLC filed for chapter 11 protection in the Northern District of Texas. The Debtor owns the Hillcrest Apartments located at 2019 Hillcrest Street, in Mesquite TX 75149. According to court filing, CC Hillcrest LLC estimates between 200 and 999 creditors. The petition states funds will be available to unsecured creditors. A meeting of creditors under 11 U.S.C. Section 341(a) is slated for Sept. 7, 2022, at 10:00 AM by TELEPHONE. Proofs of claim are due by Dec. 6, 2022. About CC Hillcrest LLC CC Hillcrest LLC, doing business as Hillcrest Apartments, is a Single Asset Real Estate (as defined in 11 U.S.C. Sec. 101(51B)). CC Hillcrest LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 22-31362) on July 29, 2022. In the petition filed by Jared Remington, as manager, the Debtor estimated assets and liabilities between $10 million and $50 million each. Joyce W. Lindauer, of Joyce W. Lindauer Attorney, PLLC, is the Debtor's counsel. CLEAN ENERGY: Seeks to Tap Rafool & Bourne as Bankruptcy Counsel ---------------------------------------------------------------- Clean Energy Renewables, LLC seeks approval from the U.S. Bankruptcy Court for the Central District of Illinois to employ Rafool & Bourne, PC as its bankruptcy counsel. Rafool & Bourne will render these services: (a) advise the Debtor regarding its rights, powers and duties in connection with the administration of its bankruptcy estate and the disposition of its property; (b) take such action as may be necessary with respect to claims that may be asserted against the Debtor and property of its estate; (c) prepare legal papers; (d) represent the Debtor with respect to inquiries and negotiations concerning creditors of its estate and property; (e) initiate, defend or otherwise participate on behalf of Debtor in all proceedings before this court or any other court of competent jurisdiction; and (f) perform any and all other legal services on behalf of the Debtor which may be required to aid in the proper administration of its bankruptcy estate. Rafool & Bourne's attorney time will be paid at an hourly rate of $300, plus reimbursement for out-of-pocket expenses incurred. Prior to the petition date, the firm received a retainer of $20,000 from the Debtor. Sumner Bourne, Esq., an attorney at Rafool & Bourne, disclosed in a court filing that the firm is a "disinterested person" as defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Sumner A. Bourne, Esq. Rafool & Bourne, PC Attorneys at Law 401 Main Street, Suite 1130 Peoria, IL 61602 Telephone: (309) 673-5535 Facsimile: (309) 673-5537 Email: notices@rafoolbourne.com About Clean Energy Renewables Clean Energy Renewables, LLC -- https://clean-energy-renewables.com -- provides instrument tower installation and maintenance services on a nationwide basis, with 26 employees that travel to customer locations, from its headquarters location in Moline, Illinois. Clean Energy Renewables filed a petition for relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Ill. Case No. 22-80432) on July 18, 2022, disclosing between $1 million and $10 million in both assets and liabilities. Robert E. Eggmann serves as Subchapter V trustee. Judge Thomas L. Perkins oversees the case. Sumner A. Bourne, Esq., at Rafool & Bourne PC, is the Debtor's counsel. DELCATH SYSTEMS: CEO Gerard Michel Has 6.3% Stake as of July 20 --------------------------------------------------------------- Gerard Michel, chief executive officer of Delcath Systems, Inc., disclosed in a Schedule 13D filed with the Securities and Exchange Commission that as of July 20, 2022, he beneficially owns 542,612 shares of common stock of Delcath Systems, Inc., representing 6.3 percent based on 8,597,682 shares of the Issuer's common stock issued and outstanding as of July 20, 2022 (which consists of (i) 7,906,728 shares outstanding as of May 11, 2022 as reported in the Issuer's Quarterly Report on Form 10-Q for the fiscal quarter ended March 1, 2022 plus (ii) 690,954 shares sold in a private placement transaction on July 20, 2022. Mr. Michel purchased and was issued 62,814 shares of Common Stock in a private placement, which closed on July 20, 2022. A full-text copy of the regulatory filing is available for free at: https://www.sec.gov/Archives/edgar/data/872912/000119312522202419/d353801dsc13d.htm About Delcath Systems Headquartered in New York, NY, Delcath Systems, Inc. -- http://www.delcath.com-- is an interventional oncology company focused on the treatment of primary and metastatic liver cancers. The Company's lead product candidate, Melphalan Hydrochloride for Injection for use with the Delcath Hepatic Delivery System, or Melphalan/HDS, is designed to administer high-dose chemotherapy to the liver while controlling systemic exposure and associated side effects. In Europe, Melphalan/HDS is approved for sale under the trade name Delcath CHEMOSAT Hepatic Delivery System for Melphalan. Delcath Systems reported a net loss of $25.65 million for the year ended Dec. 31, 2021, compared to a net loss of $24.16 million for the year ended Dec. 31, 2020. As of March 31, 2022, the Company had $27.32 million in total assets, $22.09 million in total liabilities, and $5.23 million in total stockholders' equity. New York, NY-based Marcum LLP, the Company's auditor since 2018, issued a "going concern" qualification in its report dated March 30, 2022, citing that the Company has a significant working capital deficiency, has incurred significant losses and needs to raise additional funds to meet its obligations and sustain its operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. DESERT INSTITUTE: Taps Sacks Tierney as Bankruptcy Counsel ---------------------------------------------------------- Desert Institute for Spine Disorders, PC received approval from the U.S. Bankruptcy Court for the District of Arizona to employ Sacks Tierney, PA as its bankruptcy counsel. Sacks Tierney will render these services: (a) assist the Debtor in all matters associated with its Chapter 11 bankruptcy proceeding; (b) represent the Debtor in all hearings before the bankruptcy court; and (c) negotiate and resolve all issues related to the Debtor's Chapter 11 proceeding. The hourly rates of the firm's counsel and staff are as follows: Partners $370 - $560 Associates $250 - $370 Paralegal Assistants $125 - $245 Randy Nussbaum, Esq., an attorney at Sacks Tierney, disclosed in a court filing that the firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Randy Nussbaum, Esq. Sacks Tierney PA 4250 N. Drinkwater Blvd., 4th Floor Scottsdale, AZ 85251-3693 Telephone: (480) 425-2600 Facsimile: (480) 970-4610 Email: Randy.Nussbaum@SacksTierney.com About Desert Institute for Spine Disorders Desert Institute for Spine Disorders, PC specializes in conservative spine treatment for neck and low back pain. It is based in Scottsdale, Ariz. Desert Institute for Spine Disorders filed its voluntary petition for relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 22-05043) on Aug. 1, 2022, listing up to $50,000 in assets and up to $10 million in liabilities. James E. Cross serves as Subchapter V trustee. Judge Madeleine C. Wanslee oversees the case. Sacks Tierney PA is the Debtor's bankruptcy counsel. EASTERDAY RANCHES: Creditors to Get $11M After Plan Confirmation ---------------------------------------------------------------- Todd Neeley of Progressive Farmer reports that Chapter 11 bankruptcy proceedings for Washington-based Easterday Ranches and Easterday Farms are nearing completion as a federal bankruptcy judge on Tuesday, July 26, 2022, confirmed an $11 million settlement with 65 creditors. Cody Allen Easterday, former owner and operator of the eastern Washington operation, is facing up to 20 years in prison after a guilty plea on charges of defrauding Tyson Fresh Meats and another unnamed company of $244 million in buying and feeding hundreds of thousands of cattle that didn't exist. In addition to the criminal court proceedings yet to be resolved, Easterday has been working with attorneys in the ongoing bankruptcy proceedings of his ranches and farms. According to the bankruptcy settlement filed in the U.S. Bankruptcy Court for Eastern Washington, the McGregor Company, a crop inputs provider in the Pacific Northwest, is listed as the largest creditor on the Easterday farm side and is expected to receive about $4 million from the settlement. That is followed by John Deere Financial at $2.3 million and DLL Finance LLC at $1.4 million. At this point, Rabo AgriFinance LLC is the lone holdout in finalizing the settlement. Rabobank is trying to collect nearly $1.1 million owed it by Easterday. It is unknown whether Rabobank will hold up the settlement, as court records indicate the company is able to maintain its claim even if other creditors agree to the settlement. The Easterday Ranches portion of the bankruptcy proceedings is ongoing, as Tyson is seeking more than $225 million in claims, and Washington real estate company Segale Properties has more than $25 million in outstanding claims. About 18,000 acres of Easterday land was sold for $209 million at auction to AgriNorthwest, the investment segment of the Church of Jesus Christ of Latter-Day Saints. Easterday's criminal sentencing was moved from June 13 to Sept. 19 after the U.S. District Court for the District of Eastern Washington granted an Easterday motion to continue. The former rancher asked for the delay to complete bankruptcy proceedings. About Easterday Ranches and Easterday Farms Easterday Ranches, Inc., is a privately held company in the cattle ranching and farming business. Easterday Ranches sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Wash. Case No. 21-00141) on Feb. 1, 2021. Its affiliate, Easterday Farms, a Washington general partnership, filed a Chapter 11 bankruptcy petition (Bankr. E.D. Wash. Case No. 21-00176) on Feb. 8, 2021. The cases are jointly administered under Case No. 21-00141. At the time of the filing, the Debtors disclosed assets of between $100 million and $500 million and liabilities of the same range. Judge Whitman L. Holt oversees the cases. The Debtors tapped Pachulski Stang Ziehl & Jones LLP as their lead bankruptcy counsel, Bush Kornfeld LLP as local counsel, and Davis Wright Tremaine LLP as special counsel. T. Scott Avila and Peter Richter of Paladin Management Group serve as restructuring officers. On Feb. 16, 2021, the Office of the United States Trustee for the Eastern District of Washington appointed a Ranches Official Committee of Unsecured Creditors. The Ranches Committee initially retained Dentons US LLP as its counsel and B. Riley Advisors as its financial advisor. The Ranches Committee subsequently retained Cooley LLP as its counsel, replacing Dentons US LLP. On Feb. 22, 2021, the U.S. Trustee appointed a Farms Official Committee of Unsecured Creditors. The Farms Committee retained Buchalter, a Professional Corporation as its counsel and Dundon Advisers LLC as its financial advisor. The Debtors filed their joint Chapter 11 plan of liquidation on Aug. 2, 2021. FEI HUANG LLC: Case Summary & Four Unsecured Creditors ------------------------------------------------------ Debtor: Fei Huang LLC 1100 N. McCord Unit C c/o Aqua Pools & Ponds Toledo, OH 43615 Business Description: The Debtor is primarily engaged in renting and leasing real estate properties. Chapter 11 Petition Date: August 2, 2022 Court: United States Bankruptcy Court Northern District of Ohio Case No.: 22-31129 Judge: Hon. John P. Gustafson Debtor's Counsel: Matthew Gilmartin, Esq. MIKE JAAFAR LAW FIRM PLLC 600 East Granger Road 2nd Floor Cleveland, OH 44131 Tel: 888-324-7629 Email: matthew@fairmaxlaw.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Mike Dong as manager. A full-text copy of the petition containing, among other items, a list of the Debtor's four unsecured creditors is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/U55E7VA/FEI_HUANG_LLC__ohnbke-22-31129__0001.0.pdf?mcid=tGE4TAMA FREDDIE MAC: Posts $2.5 Billion Net Income in Second Quarter ------------------------------------------------------------ Federal Home Loan Mortgage Corporation filed with the Securities and Exchange Commission its Quarterly Report on Form 10-Q disclosing net income of $2.45 billion on $5.40 billion of net revenues for the three months ended June 30, 2022, compared to net income of $3.68 billion on $5.87 billion of net revenues for the three months ended June 30, 2021. For the six months ended June 30, 2022, the Company reported net income of $6.25 billion on $11.25 billion of net revenues compared to net income of $6.44 billion on $11.14 billion of net revenues for the same period during the prior year. As of June 30, 2022, the Company had $3.15 trillion in total assets, $3.11 trillion in total liabilities, and $34.10 billion in total equity. Michael J. DeVito, chief executive officer, commented, "In the second quarter, Freddie Mac achieved solid financial results and continued to build equity to withstand potential economic stress. We helped 617,000 families buy, refinance, or rent a home and introduced innovations which allow lenders to simplify the loan underwriting process and improve risk management. As rising mortgage rates, house price appreciation, and other economic factors challenge affordability, we are committed to working across the industry to promote equity and sustainable housing nationwide." A full-text copy of the Form 10-Q is available for free at: https://www.sec.gov/ix?doc=/Archives/edgar/data/1026214/000102621422000085/fmcc-20220630.htm About Freddie Mac Federal National Mortgage Association (Freddie Mac) is a GSE chartered by Congress in 1970. The Company's public mission is to provide liquidity, stability, and affordability to the U.S. housing market. Freddie Mac does this primarily by purchasing residential mortgage loans originated by lenders. In most instances, it packages these loans into guaranteed mortgage-related securities, which are sold in the global capital markets and transfer interest-rate and liquidity risks to third-party investors. In addition, the Company transfers mortgage credit risk exposure to third-party investors through its credit risk transfer programs, which include securities- and insurance-based offerings. The Company also invests in mortgage loans and mortgage-related securities. The Company does not originate loans or lend money directly to mortgage borrowers. Since September 2008, Freddie Mac has been operating under conservatorship with FHFA as Conservator. The support provided by Treasury pursuant to the Purchase Agreement enables the company to maintain access to the debt markets and have adequate liquidity to conduct its normal business operations. The amount of funding available to Freddie Mac under the Purchase Agreement was $140.2 billion at Dec. 31, 2021. Pursuant to the Purchase Agreement, Freddie Mac will not be required to pay a dividend to Treasury on the senior preferred stock until it has built sufficient capital to meet the capital requirements and buffers set forth in the Enterprise Regulatory Capital Framework. As a result, the company was not required to pay a dividend to Treasury on the senior preferred stock in December 2021. As the company builds capital during this period, the quarterly increases in its Net Worth Amount have been, or will be, added to the aggregate liquidation preference of the senior preferred stock. The liquidation preference of the senior preferred stock increased to $100.7 billion on March 31, 2022 based on the $2.7 billion increase in the Net Worth Amount during the fourth quarter of 2021, and will increase to $104.4 billion on June 30, 2022 based on the $3.7 billion increase in the Net Worth Amount during the first quarter of 2022. FREE SPEECH SYSTEMS: Alex Jones Company Starts Subchapter V Case ---------------------------------------------------------------- Jim Vertuno of the Associated Press reports that Alex Jones' media company, Free Speech Systems, has filed for Chapter 11 bankruptcy. Conspiracy theorist Alex Jones' media company Free Speech Systems filed for bankruptcy on Friday, July 29, 2022, but his attorney said it should not disrupt the defamation damages trial underway in Texas that seeks to force Jones to pay $150 million or more to the family of one of the children killed in the 2012 Sandy Hook Elementary School attack. The trial in Austin, where Jones lives and Free Speech Systems is based, wrapped up its first week of testimony Friday and is expected to conclude next week. The bankruptcy filing was announced by Jones‘ attorney Andino Reynal late in the day. Reynal and attorneys for the family suing Jones told Judge Maya Guerra Gamble that the bankruptcy filing would not halt the lawsuit. The company wants "to put this part of the odyssey behind us so that we have some numbers" set for damages, Reynal said. Details of the bankruptcy filing were not immediately available. It is not the first time a bankruptcy filing has come amid litigation against Jones by the Sandy Hook families. In April, Jones' company Infowars and two more of his business entities filed for bankruptcy protection, which led to a trial delay. Courts in Texas and Connecticut have already found Jones liable for defamation for his portrayal of the Sandy Hook massacre as a hoax involving actors aimed at increasing gun control. In both states, judges issued default judgements against Jones without trials because he failed to respond to court orders and turn over documents. Christopher Mattei, an attorney for the Sandy Hook families in the Connecticut case, issued a statement Friday evening blasting the bankruptcy filing. "Just two days before jury selection is due to begin in Connecticut, Mr. Jones has once again fled like a coward to bankruptcy court in a transparent attempt to delay facing the families that he has spent years hurting," Mattei said. "These families have an endless well of patience and remain determined to hold Mr. Jones accountable in a Connecticut court." The trial in Austin is to determine how much Jones should pay for defaming Neil Heslin and Scarlett Lewis, whose 6-year-old son, Jesse Lewis, was among the 20 children and six educators who were killed in the country’s deadliest school shooting. They and other Sandy Hook families suing Jones say they have suffered years of harassment and threats resulting from Jones' repeated false claims that the shooting was a hoax or didn't happen. Jones claimed in court records last year that he had a negative net worth of $20 million, but attorneys for Sandy Hook families have painted a different financial picture. Court records show that Jones' Infowars store, which sells nutritional supplements and survival gear, made more than $165 million between 2015 and 2018. Jones has also urged listeners on his Infowars program to donate money. About Free Speech Systems LLC Free Speech Systems LLC is a broadcast media production and distribution company that provides broadcasting aural programs by radio to the public. On July 29, 2022, Free Speech Systems LLC filed a voluntary petition for relief under chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 22-60043). The Debtor has elected to proceed under subchapter V of chapter 11. In the petition filed by W. Marc Schwartz, as chief restructuring officer, the Debtor estimated assets and liabilities between $50 million and $100 million. Melissa A Haselden has been appointed as Subchapter V trustee. Raymond William Battaglia, of Law Offices of Ray Battaglia, PLLC, is the Debtor's counsel. GA REAL ESTATE: Taps Rountree Leitman Klein & Geer as Legal Counsel ------------------------------------------------------------------- GA Real Estate Acquisitions, LLC seeks approval from the U.S. Bankruptcy Court for the Northern District of Georgia to employ Rountree Leitman Klein & Geer, LLC as its legal counsel. The firm will render these legal services: (a) give the Debtor legal advice with respect to its powers and duties in the management of its property; (b) prepare legal papers; (c) assist in examination of the claims of creditors; (d) assist with formulation and preparation of the disclosure statement and plan of reorganization and with the confirmation and consummation thereof; and (e) perform all other legal services for the Debtor as may be necessary herein. The hourly rates of the firm's attorneys and staff are as follows: William A. Rountree, Attorney $495 Will B. Geer, Attorney $450 Hal Leitman, Attorney $425 David S. Klein, Attorney $425 Alexandra Dishun, Attorney $425 Benjamin R. Keck, Attorney $425 Barret Broussard, Attorney $395 Ceci Christy, Attorney $350 Elizabeth A. Childers, Attorney $350 Caitlyn Powers, Attorney $275 Zach Beck, Law clerk $195 Sharon M. Wenger, Paralegal $195 Megan Winokur, Paralegal $150 Catherine Smith, Paralegal $150 Yasmin Alamin, Paralegal $150 The firm received a pre-bankruptcy retainer of $10,000 from the Debtor. William Rountree, Esq., a partner at Rountree Leitman Klein & Geer, disclosed in a court filing that the firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: William A. Rountree, Esq. Rountree Leitman Klein & Geer, LLC Century Plaza I 2987 Clairmont Road, Suite 350 Atlanta, GA 30329 Telephone: (404) 584-1238 Facsimile: (404) 704-0246 Email: wrountree@rlkglaw.com About GA Real Estate Acquisitions GA Real Estate Acquisitions, LLC filed its voluntary petition for relief under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 22-55886) on July 29, 2022, listing up to $10 million in both assets and liabilities. Cameron McCord serves as Subchapter V trustee. Judge Lisa Ritchey Craig oversees the case. Rountree Leitman Klein & Geer, LLC is the Debtor's legal counsel. GETSWIFT INC: Case Summary & 20 Largest Unsecured Creditors ----------------------------------------------------------- Two affiliates that concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code: Debtor Case No. ------ -------- GetSwift, Inc. 22-11057 1185 6th Avenue New York, NY 10036 GetSwift Technologies Limited 22-11058 250 Howe Street, 20th Floor Vancouver, BC V6C 3R8 Canada Business Description: GetSwift is a provider of last mile Software as a service (SaaS) logistics technology. Chapter 11 Petition Date: August 2, 2022 Court: United States Bankruptcy Court Southern District of New York Judge: Hon. Michael E. Wiles Debtors' General Bankruptcy Counsel: Janice B. Grubin, Esq. BARCLAY DAMON LLP 1270 Avenue of the Americas Suite 501 New York, NY 10020 Tel: 212-784-5808 Email: jgrubin@barclaydamon.com Debtors' Canadian Bankruptcy Counsel: MILLER THOMSON LLP Each Debtor's Estimated Assets: $1 million to $10 million Each Debtor's Estimated Liabilities: $1 million to $10 million The petitions were signed by Joel MacDonald as presdent and secretary. A copy of the Debtor's list of 20 largest unsecured creditors is available for free at PacerMonitor.com at: Full-text copies of the petitions containing, among other items, lists of the Debtors' 20 largest unsecured creditors are available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/ZE73VFA/GetSwift_Inc__nysbke-22-11057__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/DI5JDPY/GetSwift_Technologies_Limited__nysbke-22-11058__0001.0.pdf?mcid=tGE4TAMA GOLD STANDARD: Committee Taps Emerald Capital as Financial Advisor ------------------------------------------------------------------ The official committee of unsecured creditors appointed in the Chapter 11 cases of Gold Standard Baking, LLC and its affiliates seeks approval from the U.S. Bankruptcy Court for the District of Delaware to employ Emerald Capital Advisors as its financial advisors. The firm will render these services: (a) review and analyze the Debtors' operations, financial condition, business plan, strategy, and operating forecasts; (b) assist the committee in evaluating any proposed debtor-in-possession financing; (c) assist in the determination of an appropriate capital structure for the Debtors; (d) advise the committee as it assesses the Debtors' executory contracts; (e) assist the committee in evaluating indications of interest and proposals regarding any transaction(s) from current and/ or potential acquirors; (f) assist the committee with the negotiation of the sale; (g) review and supplement where applicable the Debtors' advisors in any merger & acquisition (M&A) efforts; (h) assist and advise the committee in connection with its identification, development, and implementation of strategies related to the potential recoveries for the unsecured creditors as it relates to the Debtors' Chapter 11 objectives; (i) assist the committee in understanding the business and financial impact of various restructuring alternatives of the Debtors; (j) assist the committee in its analysis of the Debtors' financial restructuring process; (k) assist the committee in evaluating, structuring and negotiating the terms and conditions of any proposed transaction; (l) assist in the evaluation of any asset sale process; (m) assist in evaluating the terms, conditions, and impact of any proposed asset sale transactions; (n) assist the committee in evaluating any proposed merger, divestiture, joint-venture, or investment transaction; (o) provide testimony, as necessary, in any proceeding before the bankruptcy court; and (p) provide the committee with other appropriate general restructuring advice. The hourly rates of the firm's professionals are as follows: Managing Partners $550 - $600 Managing Directors $450 - $500 Vice Presidents $350 - $400 Associates $300 Analysts $200 - $250 In addition, the firm will seek reimbursement for expenses incurred. John Madden, a managing partner at Emerald Capital Advisors, disclosed in a court filing that the firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: John P. Madden Emerald Capital Advisors 150 East 52nd Street, 15th Floor New York, NY 10022 Telephone: (646) 968-4094 Facsimile: (212) 731-0307 Email: info@emeraldcapitaladvisors.com About Gold Standard Baking Gold Standard Baking, LLC, Gold Standard Holdings, Inc., and Gold Standard Real Estate, LLC are industrial bakers specializing in croissants and a variety of other laminated dough-based sweet goods. The Debtors' bakery is located in Chicago, Ill., and until recently, ran a second bakery in Pleasant Prairie, Wis. Gold Standard Baking and its affiliates (Bankr. D. Del. Lead Case No. 22-10559) sought Chapter 11 protection on June 22, 2022. In their petitions, the Debtors estimated assets and debt, on a consolidated basis, in the range of $100 million to $500 million. John T. Young, Jr., chief restructuring officer, signed the petitions. Judge Kate Stickles oversees the cases. The Debtors tapped Klehr Harrison Harvey Branzburg, LLP as legal counsel; Houlihan Lokey Capital, Inc. as investment banker; and Riveron Consulting, LLC as financial and restructuring advisor. Omni Agent Solutions is the notice, claims and balloting agent. On July 1, 2022, the Office of the U.S. Trustee appointed an official committee of unsecured creditors in these Chapter 11 cases. The committee tapped Lowenstein Sandler LLP as lead counsel, Morris James LLP as Delaware counsel, and Emerald Capital Advisors as financial advisor. GOLD STANDARD: Committee Taps Lowenstein Sandler as Lead Counsel ---------------------------------------------------------------- The official committee of unsecured creditors appointed in the Chapter 11 cases of Gold Standard Baking, LLC and its affiliates seeks approval from the U.S. Bankruptcy Court for the District of Delaware to employ Lowenstein Sandler, LLP as its lead counsel. Lowenstein Sandler will render these legal services: (a) advise the committee with respect to its rights, duties, and powers in the Chapter 11 cases; (b) assist and advise the committee in its consultations with the Debtors relative to the administration of the Chapter 11 cases; (c) assist the committee in analyzing the claims of the Debtors' creditors and capital structure and in negotiating with holders of claims and equity interests; (d) assist the committee in its investigation of the acts, conduct, assets, liabilities, and financial condition of the Debtors and of the operation of the Debtors' business; (e) assist the committee in analyzing (i) the Debtors' pre-petition financing, (ii) proposed use of cash collateral, and (iii) the Debtors' proposed debtor-in-possession financing; (f) assist the committee in its investigation of the liens and claims of the holders of the Debtors' pre-petition debt and the prosecution of any claims or causes of action revealed by such investigation; (g) assist the committee in its analysis of, and negotiations with, the Debtors or any third-party; (h) assist and advise the committee as to its communications to unsecured creditors regarding significant matters in the Chapter 11 cases; (i) represent the committee at hearings and other proceedings; (j) review and analyze applications, orders, statements of operations, and schedules filed with the court and advise the committee as to their propriety; (k) assist the committee in preparing pleadings and applications as may be necessary in furtherance of the committee's interests and objectives in the Chapter 11 cases; (l) assist the committee and advise concerning the proposed sale of substantially all of the Debtors' assets; (m) assist the committee with respect to issues that may arise concerning the Debtors' unionized employees; (n) prepare, on behalf of the committee, any pleadings; and (o) perform such other legal services as may be required or are otherwise deemed to be in the interests of the committee. The hourly rates of the firm's counsel and staff are as follows: Partners $690 - $1,715 Of Counsel $790 - $1,390 Senior Counsel and Counsel $560 - $1,330 Associates $450 - $910 Paralegals, Practice Support and Assistants $220 - $395 Lowenstein Sandler has agreed to cap its blended hourly rate for all billers at $750. In addition, the firm will seek reimbursement for expenses incurred. Lowenstein Sandler also provided the following in response to the request for additional information contained in paragraph D.1. of the U.S. Trustee Guidelines: Question: Did you agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Response: Yes. Question: Do any of the professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Response: No. Question: If you represented the client in the 12 months prepetition, disclose your billing rates and material financial terms for the prepetition engagement, including any adjustments during the 12 months prepetition period. If your billing rates and material financial terms have changed post-petition, explain the difference and the reasons for the difference. Response: Lowenstein Sandler did not represent the committee prior to the petition date. Question: Has your client approved your prospective budget and staffing plan and, if so, for what budget period? Response: Lowenstein Sandler expects to develop a budget and staffing plan to reasonably comply with the U.S. Trustee's request for information and additional disclosures, as to which Lowenstein Sandler reserves all rights. The committee has approved Lowenstein Sandler's proposed hourly billing rates. Bruce Nathan, Esq., a partner at Lowenstein Sandler, disclosed in a court filing that the firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Jeffrey D. Prol, Esq. Scott Cargill, Esq. Arielle B. Adler, Esq. Lowenstein Sandler LLP One Lowenstein Drive Roseland, NJ 07068 Telephone: (973) 597-2500 Email: jprol@lowenstein.com scargill@lowenstein.com aadler@lowenstein.com - and – Bruce S. Nathan, Esq. Lowenstein Sandler LLP 1251 Avenue of the Americas New York, NY 10020 Telephone: (212) 262-6700 Email: bnathan@lowenstein.com About Gold Standard Baking Gold Standard Baking, LLC, Gold Standard Holdings, Inc., and Gold Standard Real Estate, LLC are industrial bakers specializing in croissants and a variety of other laminated dough-based sweet goods. The Debtors' bakery is located in Chicago, Ill., and until recently, ran a second bakery in Pleasant Prairie, Wis. Gold Standard Baking and its affiliates (Bankr. D. Del. Lead Case No. 22-10559) sought Chapter 11 protection on June 22, 2022. In their petitions, the Debtors estimated assets and debt, on a consolidated basis, in the range of $100 million to $500 million. John T. Young, Jr., chief restructuring officer, signed the petitions. Judge Kate Stickles oversees the cases. The Debtors tapped Klehr Harrison Harvey Branzburg, LLP as legal counsel; Houlihan Lokey Capital, Inc. as investment banker; and Riveron Consulting, LLC as financial and restructuring advisor. Omni Agent Solutions is the notice, claims and balloting agent. On July 1, 2022, the Office of the U.S. Trustee appointed an official committee of unsecured creditors in these Chapter 11 cases. The committee tapped Lowenstein Sandler LLP as lead counsel, Morris James LLP as Delaware counsel, and Emerald Capital Advisors as financial advisor. GOLD STANDARD: Committee Taps Morris James as Delaware Counsel -------------------------------------------------------------- The official committee of unsecured creditors appointed in the Chapter 11 cases of Gold Standard Baking, LLC and its affiliates seeks approval from the U.S. Bankruptcy Court for the District of Delaware to employ Morris James, LLP as its Delaware counsel. Morris James will render these legal services: (a) advise and assist the committee in its consultations with the Debtors relative to the administration of their reorganization; (b) review and analyze all applications, motions, orders, statements of operations and schedules filed with the court by the Debtors or third parties; (c) prepare legal papers; (d) represent the committee at hearings held before the court and communicate with the committee regarding the issues raised, as well as the decisions of the court; and (e) perform such other necessary legal services for the committee. The hourly rates of the firm's counsel and staff are as follows: Eric J. Monzo, Partner $695 Brya M. Keilson, Partner $675 Jason S. Levin, Associate $395 Stephanie Lisko, Paralegal $295 Douglas J. Depta, Paralegal $295 In addition, the firm will seek reimbursement for expenses incurred. Morris James also provided the following in response to the request for additional information contained in paragraph D.1. of the U.S. Trustee Guidelines: Question: Did you agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Response: Morris James did not agree to a variation of its standard or customary billing arrangements for this engagement. Question: Do any of the professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Response: None of the professionals included in this engagement have varied their rate based upon the geographic location of the Chapter 11 cases. Question: If you represented the client in the 12 months prepetition, disclose your billing rates and material financial terms for the prepetition engagement, including any adjustments during the 12 months prepetition period. If your billing rates and material financial terms have changed post-petition, explain the difference and the reasons for the difference. Response: The committee retained Morris James on July 5, 2022. The billing rates for the period prior to this application are the same as indicated in this application. Question: Has your client approved your prospective budget and staffing plan and, if so, for what budget period? Response: Morris James anticipates filing a budget at the time it files its interim fee applications, and any such budget it may file will be prior approved by the committee. In accordance with the U.S. Trustee Guidelines, the budget may be amended as necessary to reflect changed circumstances or unanticipated developments. Eric Monzo, Esq., a partner at Morris James, disclosed in a court filing that the firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Eric J. Monzo, Esq. Brya M. Keilson, Esq. Jason S. Levin, Esq. Morris James, LLP 500 Delaware Avenue, Suite 1500 Wilmington, DE 19801 Telephone: (302) 888-6800 Facsimile: (302) 571-1750 Email: emonzo@morrisjames.com bkeilson@morrisjames.com jlevin@morrisjames.com About Gold Standard Baking Gold Standard Baking, LLC, Gold Standard Holdings, Inc., and Gold Standard Real Estate, LLC are industrial bakers specializing in croissants and a variety of other laminated dough-based sweet goods. The Debtors' bakery is located in Chicago, Ill., and until recently, ran a second bakery in Pleasant Prairie, Wis. Gold Standard Baking and its affiliates (Bankr. D. Del. Lead Case No. 22-10559) sought Chapter 11 protection on June 22, 2022. In their petitions, the Debtors estimated assets and debt, on a consolidated basis, in the range of $100 million to $500 million. John T. Young, Jr., chief restructuring officer, signed the petitions. Judge Kate Stickles oversees the cases. The Debtors tapped Klehr Harrison Harvey Branzburg, LLP as legal counsel; Houlihan Lokey Capital, Inc. as investment banker; and Riveron Consulting, LLC as financial and restructuring advisor. Omni Agent Solutions is the notice, claims and balloting agent. On July 1, 2022, the Office of the U.S. Trustee appointed an official committee of unsecured creditors in these Chapter 11 cases. The committee tapped Lowenstein Sandler LLP as lead counsel, Morris James LLP as Delaware counsel, and Emerald Capital Advisors as financial advisor. GREY BROWN: Voluntary Chapter 11 Case Summary --------------------------------------------- Debtor: Grey Brown Inc. 320 Boston Post Road Ste 180-116 Darien, CT 06820 Business Description: The Debtor is in the restaurant industry. Chapter 11 Petition Date: August 3, 2022 Court: United States Bankruptcy Court Southern District of New York Case No.: 22-11065 Judge: Hon. Michael E. Wiles Debtor's Counsel: James J. DeCristofaro, Esq. 902 Broadway Fl 6 New York, NY 10010 Tel: (212) 500-1891 Email: james@DCLFIRM.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Vishal Dhar as secretary and treasurer. The Debtor failed to include in the petition a list of its 20 largest unsecured creditors. A full-text copy of the petition is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/IGBFP7Y/Grey_Brown_Inc__nysbke-22-11065__0001.0.pdf?mcid=tGE4TAMA HARBOR FREIGHT: S&P Alters Outlook to Negative, Affirms 'BB-' ICR ----------------------------------------------------------------- S&P Global Ratings revised its outlook on U.S.-based discount tool and equipment retailer Harbor Freight Tools USA Inc. to negative from stable and affirmed its 'BB-' issuer credit rating on Harbor Freight. S&P said, "We revised our recovery rating on the $3.0 billion term loan to '4' (30%-50% recovery; rounded estimate: 45%) from '3', and affirmed our 'BB-' issue-level rating. "The negative outlook reflects the likelihood that we could lower our rating on Harbor Freight over the next 12 months if its leverage remains elevated or its operating results face greater pressure than we currently forecast. "Outstanding debt is higher and operating margins are depressed because of supply chain cost inflation, which we expect will continue this year. The company has benefited from robust demand growth during the past two years, but we expect momentum to slow over the next 12 months. In addition, S&P Global Ratings-adjusted EBITDA decreased more than 50% in the third quarter year over year due to higher transportation and product costs. In response, the company is taking pricing actions and working with vendors to lower product costs as well as renegotiating freight rates. However, we believe the risk of persistent inflation or supply chain challenges could keep operating margins depressed for longer than we anticipate in our base case scenario, causing the company's capital structure to remain highly leveraged. "We anticipate weaker margins and significant cash burn in fiscal 2022. The company drew on its revolver facility, adding more than $800 million to its outstanding debt as of April 30, 2022, as a result of increasing inventory position, amid recent supply chain issues. We anticipate it will generate free cash over the next year as a result of working capital normalization, which would enable it to partially pay down its outstanding revolver. However, in the scenario of a continuing deterioration in operating conditions, the company will likely have to cut capital expenditures (capex) by slowing new store openings. In 2023 we expect operating margins to improve as transportation costs abate but to remain lower compared to historical average. "We expect S&P Global Ratings-adjusted leverage in the mid-5x area due to projected lower margins in 2022. Leverage increased more than two turns in the third quarter compared to fiscal 2021. We forecast the outstanding revolver will remain elevated at the end of fiscal 2022 with usage above 70% of its committed amount. We believe there is a risk of management shifting to a more aggressive financial policy allocating capital to other uses and postponing the return of leverage to previous lower levels. "The negative outlook on Harbor Freight reflects the possibility of a downgrade within the next 12 months if difficult operating conditions due to supply chain disruptions or rising costs persist longer than we currently anticipate or if the company's financial policy becomes more aggressive." S&P could lower the rating on Harbor Freight over the next 12 months if it expects the leverage ratio will remain around 5x or more. This could result if: -- S&P Global Ratings-adjusted EBITDA margin stays below 17.5%; or -- The company is unable to reduce the outstanding asset-based lending facility (ABL) borrowing as a result of working capital release. S&P could revise the outlook to stable if the S&P Global Ratings-adjusted leverage is below 5x. ESG credit indicators: E-2, S-2, G-2 HEALTHIER CHOICES: Incurs $1.35 Million Net Loss in Second Quarter ------------------------------------------------------------------ Healthier Choices Management Corp. filed with the Securities and Exchange Commission its Quarterly Report on Form 10-Q disclosing a net loss of $1.35 million on $6.13 million of total net sales for the three months ended June 30, 2022, compared to net income of $179,665 on $3.39 million of total net sales for the three months ended June 30, 2021. For the six months ended June 30, 2022, the Company reported a net loss of $2.66 million on $11.18 million of total net sales compared to a net loss of $516,593 on $6.85 million of total net sales for the same period in 2021. As of June 30, 2022, the Company had $33.83 million in total assets, $7.26 million in total liabilities, and $26.57 million in total stockholders' equity. A full-text copy of the Form 10-Q is available for free at: https://www.sec.gov/ix?doc=/Archives/edgar/data/0000844856/000084485622000031/form10q.htm About Healthier Choices Headquartered in Hollywood, Florida, Healthier Choices Management Corp. -- http://www.healthiercmc.com-- is a holding company focused on providing consumers with healthier daily choices with respect to nutrition and other lifestyle alternatives. Healthier Choices reported a net loss of $4.04 million for the year ended Dec. 31, 2021, a net loss of $3.72 million for the year ended Dec. 31, 2020, a net loss of $2.80 million for the year ended Dec. 31, 2019, and a net loss of $13.16 million for the year ended Dec. 31, 2018. As of March 31, 2022, the Company had $35.43 million in total assets, $7.52 million in total liabilities, and $27.92 million in total stockholders' equity. INTERIOR COMMERCIAL: Voluntary Chapter 11 Case Summary ------------------------------------------------------ Debtor: Interior Commercial Installation, Inc. 3670 Concord Ave Brentwood, CA 94513-4508 Business Description: Interior Commercial Installation, Inc. is a building finishing contractor. Chapter 11 Petition Date: August 2, 2022 Court: United States Bankruptcy Court Northern District of California Case No.: 22-40745 Judge: Hon. Roger L. Efremsky Debtor's Counsel: Lars Fuller, Esq. THE FULLER LAW FIRM, PC 60 N Keeble Ave San Jose, CA 95126-2723 Tel: (408) 295-5595 Email: admin@fullerlawfirm.net Total Assets as of July 31, 2022: $1,498,652 Total Liabilities as of July 31, 2022: $1,624,912 The petition was signed by Jens Christian Jensen as president. The Debtor failed to include in the petition a list of its 20 largest unsecured creditors. A full-text copy of the petition is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/QIOWRJI/Interior_Commercial_Installation__canbke-22-40745__0001.0.pdf?mcid=tGE4TAMA J BOWERS: Files for Chapter 11 to Pursue Liquidation ---------------------------------------------------- J Bowers Construction Inc. and affiliate Restoration Services of Akron, Inc., sought Chapter 11 bankruptcy protection. Jim Bowers formed JBC in 1959 and formally incorporated the business under the laws of the State of Ohio in 1979. His son Rick Bowers took over control in 1988. JBC is one of the largest fire restoration companies in Northeast Ohio boasting the timely capabilities of providing detailed, itemized estimates and appraisals required when dealing with all manners of insurance losses, including storm and water losses, vehicle damage repairs, and all types of fire and smoke damage, as well as water mitigation and restorative drying services. Lead by Rick Bowers, JBC's ability to provide immediate response and prompt attention to insurance claims quickly established JBC as a leader in the industry. As a family-owned business, Sean Bowers took over control of JBC following Rick's passing in 2005. Sean's sister, Christie Bowers-Petit and his son, Kyle Bowers, also are employed by JBC. With the unexpected global pandemic in the spring of 2020, JBC and RestorX began experiencing cash flow issues. While the Paycheck Protection Program helped the Companies struggle through this period, gross sales suffered as a result of contraction in virtually all industries worldwide. In early 2022, the Companies discovered that Sean Bowers misdirected corporate funds for his own personal use resulting in the Companies' inability to meet its debt obligations. Since that discovery, the Companies have shifted its focus to the marketing of the company's assets and collection of accounts receivables and liquidation of assets to maximize the value of the businesses for the benefit of creditors. JBC's gross sales was $6,536,748 in 2019 and $5,044,058 in 2020. RestorX's gross sales was $698,280 in 2019 and $519,472 in 2020. As of its last payroll period, the Companies had a workforce of three employees. The Chapter 11 cases were filed to commence the orderly liquidation of the Debtors' assets in order to maximize the assets of the companies for the benefit of all creditors. About J Bowers Construction J Bowers Construction Inc. -- https://jbowersconstruction.com -- is the largest water damage restoration company in Northeast Ohio. J Bowers Construction Inc. and affiliate Restoration Services of Akron, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ohio Case No. 22-50878 and 22-bk-50879) on July 29, 2022. In the petition filed by Kyle Bowers, as authorized representative, the Debtor estimated assets and liabilities between $1 million and $10 million. Peter G. Tsarnas, of Gertz & Rosen, Ltd., is the Debtor's counsel. JOG'S LLC: Seeks to Hire Maria Martinez de Jesus as Accountant -------------------------------------------------------------- Jog's, LLC seeks approval from the U.S. Bankruptcy Court for the District of Puerto Rico to employ Maria Martinez de Jesus, doing business as Accounting and Consulting Services, as its accountant. The accountant will perform these services: (a) assist the Debtor in gathering and compiling the necessary information required to file the Chapter 11 petition and court required information and schedules; (b) provide consulting services; (c) prepare monthly operating reports; (d) prepare all necessary tax returns; and (e) assist the Debtor and its attorney in all matters related to this Chapter 11 proceeding. The accountant will be paid at her hourly rate of $100, plus reimbursement of expenses. Maria Martinez de Jesus disclosed in a court filing that she is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The accountant can be reached at: Maria Martinez de Jesus Accounting and Consulting Services 95 Calle Rolando Cruz Jardines de Salinas Salinas, PR 00751 Telephone: (939) 208-3515 Email: marianiservices@gmail.com About Jog's LLC Jog's LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D.P.R. Case No. 22-01525) on May 27, 2022, listing as much as $100,000 in both assets and liabilities. Carlos G. Garcia Miranda serves as Subchapter V trustee. Judge Edward A. Godoy oversees the case. The Debtor tapped Carmen D. Conde Torres, Esq., at C. Conde & Assoc. as counsel and Maria Martinez de Jesus as accountant. K&N ENGINEERING: Begins Debt Talks With Lenders ----------------------------------------------- Rachel Butt of Bloomberg Law reports that K&N Engineering, an auto air-filter maker backed by Goldman Sachs Asset Management, began confidential negotiations with its lenders ahead of upcoming debt maturities, according to people with knowledge of the matter. The company has to address a roughly $230 million first-lien term loan due October 2023, followed by around $100 million second-lien term loan due October 2024. Certain first-lien lenders are seeking advice from lawyers at Ropes & Gray, said the people, who asked not to be identified because the talks are private. A full-text copy of the article is available at https://news.bloomberglaw.com/bankruptcy-law/goldman-backed-auto-supplier-k-n-starts-confidential-debt-talks?context=search&index=4 About K & N Engineering K & N Engineering designs, manufactures, markets, distributes, and/or sells oil filters, air filters, and other products designed for cars, trucks, motorcycles, engines, and other industrial applications. MADISON SQUARE BOYS: Seeks to Hire Pillsbury as Insurance Counsel ----------------------------------------------------------------- Madison Square Boys & Girls Club, Inc., seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to hire Pillsbury Winthrop Shaw Pittman, LLP as its special insurance counsel. The Debtor needs the firm's legal services with respect to its historical insurance coverage and insurance policies, demands, litigation, mediation, and other disputes relating thereto. The hourly rates charged by the firm's attorneys and staff are as follows: Partners $1,075 to $1,570 per hour Associates $730 to $900 per hour Counsel $1,225 per hour Law Clerks $425 per hour Legal Assistants $425 per hour In addition, the firm will seek reimbursement for work-related expenses. Joseph Jean, Esq., at Pillsbury, disclosed in a court filing that his firm neither holds nor represents an interest adverse to the Debtor and its estate. Mr. Jean also made the following disclosures in response to the request for additional information set forth in the Revised U.S. Trustee Guidelines: Question: Did Pillsbury agree to any variations from, or alternatives to, Pillsbury's standard billing arrangements for this engagement? Answer: No Question: Do any of the Pillsbury professionals in this engagement vary their rate based on the geographic location of the Debtor's chapter 11 case? Answer: No. The hourly rates used by Pillsbury in representing the Debtor are consistent with the rates that it charges other comparable Chapter 11 clients, regardless of the location of the Chapter 11 case. Question: If Pillsbury has represented the Debtor in the 12 months pre-petition, disclose Pillsbury's billing rates and material financial terms for the pre-petition engagement, including any adjustments during the 12 months pre-petition. If Pillsbury's billing rates and material financial terms have changed post-petition, explain the difference and the reasons for the difference. Answer: Pillsbury was retained by the Debtor on March 27, 2019 at its standard hourly rates. In July 2019, the Debtor retained Pillsbury for insurance matters, and specifically on a fixed fee rate as to management liability policies only for the Child Victims Act claims. As set forth in the engagement letter, that engagement was at a fixed fee rate, with the agreement that "any subsequent representation related to this or other matters shall be governed by the original engagement letter dated March 27, 2019" which was set at Pillsbury's standard rates. Following the fixed fee rate for the management liability policies, in September 2021, in addition to its standard rates, Pillsbury set a further special rate for the Child Victims Act claims work related strictly to notices to the insurers and monitoring at a blended rate of $750 per hour, which increased to $900 per hour in 2022, that did not anticipate material partner participation, litigation, adversarial proceedings or the new and expanded scope of work, which will require heavy partner involvement. Question: Has the Debtor approved Pillsbury’s budget and staffing plan, and, if so, for what budget period? Answer: Yes, from the petition date to Oct. 31, 2022. Pillsbury can be reached at: Joseph D. Jean, Esq. Pillsbury Winthrop Shaw Pittman, LLP 31 West 52nd Street New York, NY 10019 Phone: +1.212.858.1038 Email: joseph.jean@pillsburylaw.com About Madison Square Boys & Girls Club Madison Square Boys & Girls Club, Inc. -- https://www.madisonsquare.org -- was established to save and enhance the lives of New York City boys and girls who by means of economic or social factors are most in need of its services. Madison Square Boys & Girls Club sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 22-10910) on June 29, 2022. In the petition filed by Jeffrey Dold, chief financial officer, the Debtor reported $50 million to $100 million in assets and $100 million to $500 million in liabilities. The Debtor tapped Paul, Weiss, Rifkind, Wharton & Garrison, LLP as bankruptcy counsel; and Pillsbury Winthrop Shaw Pittman, LLP and Friedman Kaplan Seiler & Adelman, LLP as special counsels. Epiq Corporate Restructuring, LLC is the claims and noticing agent. MADISON SQUARE BOYS: Taps Friedman as Litigation Counsel -------------------------------------------------------- Madison Square Boys & Girls Club, Inc., seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to hire Friedman Kaplan Seiler & Adelman, LLP as its special litigation counsel. The Debtor requires the services of a special counsel in connection with the claims filed against it following the passage of New York's Child Victims Act in 2019, which opened a claim revival window for previously time-barred sexual abuse claims. As of June 29, the Debtor has been named a defendant in 76 separate actions brought by a total of 140 claimants. Friedman agreed to bill the Debtor at a substantial reduction of its hourly rates: $495 for partners, $380 for counsel, $350 for associates, and $85 for law clerks and legal assistants. In addition, the firm will seek reimbursement for work-related expenses. Mary Mulligan, Esq., a partner at Friedman, disclosed in a court filing that her firm neither holds nor represents an interest adverse to the Debtor and its estate. Ms. Mulligan also made the following disclosures in response to the request for additional information set forth in Paragraph D.1 of the Revised U.S. Trustee Guidelines: Question: Did Friedman agree to any variations from, or alternatives to, Friedman's standard billing arrangements for this engagement? Answer: Yes. Friedman provided deep discounts to its regular hourly rates in consideration of (i) the Debtor's status as a not-for-profit organization doing critical work in New York City, that was facing mounting financial pressure as a result of the allegations of decades-ago misconduct asserted in the claims; and (ii) the Debtor's agreeing to pay Friedman the true-up fees. Question: Do any of the Friedman professionals in this engagement vary their rate based on the geographic location of the Debtor’s chapter 11 case? Answer: No. Question: If Friedman has represented the Debtor in the 12 months pre-petition, disclose Friedman's billing rates and material financial terms for the pre-petition engagement, including any adjustments during the 12 months pre-petition. If Friedman's billing rates and material financial terms have changed post-petition, explain the difference and the reasons for the difference. Answer: Friedman has not adjusted its billing rates or material financial terms for its pre-petition engagement since entering in the Engagement Letter in July 2020. Question: Has the Debtor approved Friedman's budget and staffing plan, and, if so, for what budget period? Answer: Yes, from the petition date to Oct. 31, 2022. Friedman can be reached at: Mary E. Mulligan, Esq. Friedman Kaplan Seiler & Adelman, LLP 7 Times Square New York, NY 10036-6516 Tel: 212.833.1123 Fax: 212.373.7923 Email: mmulligan@fklaw.com About Madison Square Boys & Girls Club Madison Square Boys & Girls Club, Inc. -- https://www.madisonsquare.org -- was established to save and enhance the lives of New York City boys and girls who by means of economic or social factors are most in need of its services. Madison Square Boys & Girls Club sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 22-10910) on June 29, 2022. In the petition filed by Jeffrey Dold, chief financial officer, the Debtor reported $50 million to $100 million in assets and $100 million to $500 million in liabilities. The Debtor tapped Paul, Weiss, Rifkind, Wharton & Garrison, LLP as bankruptcy counsel; and Pillsbury Winthrop Shaw Pittman, LLP and Friedman Kaplan Seiler & Adelman, LLP as special counsels. Epiq Corporate Restructuring, LLC is the claims and noticing agent. MADISON SQUARE BOYS: Taps Paul Weiss as Bankruptcy Counsel ---------------------------------------------------------- Madison Square Boys & Girls Club, Inc., seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to hire Paul, Weiss, Rifkind, Wharton & Garrison, LLP to serve as legal counsel in its Chapter 11 case. The firm's services include: (a) providing legal advice with respect to the Debtor's powers and duties in the continued operation of its not-for-profit organization and management of its properties; (b) attending meetings and mediation sessions, negotiating with representatives of creditors and other parties, and advising and consulting on the conduct of the case, including the legal and administrative requirements of operating in Chapter 11; (c) taking action necessary to protect and preserve the Debtor's estate, including the prosecution of actions on the Debtor's behalf, defending any actions commenced against the Debtor, and representing the Debtor in negotiations concerning litigation in which it is involved, including objections to claims filed against the estate; (d) preparing legal papers; (e) assisting the Debtor with financing and transactional matters; (f) representing the Debtor in connection with obtaining authority to use cash collateral and post-petition financing, if applicable; (g) taking any necessary action to negotiate, prepare and obtain approval of a disclosure statement and confirmation of a Chapter 11 plan and all documentation related thereto; (h) appearing in court; and (i) performing all other necessary legal services for the Debtor. The standard hourly rates for the firm's attorneys and paralegals range from $1,530 to $2,025 for partners, $735 to $1,280 for associates, and $135 to $435 for paraprofessionals. Counsels charge $1,525 per hour. The following attorneys will have primary responsibility for representing the Debtor: Standard 7.5% Discounted Attorneys Hourly Rate Hourly Rate --------- ----------- --------------- Alan Kornberg $2,025 $1,873 Andrew Parlen $1,935 $1,789 William Clareman $1,745 $1,614 John Weber $1,560 $1,443 Diane Meyers $1,525 $1,410 Miriam Levi $1,175 $1,086 Shafaq Hasan $1,040 $962 John Hammel Strauss $1,040 $962 In addition, the firm will seek reimbursement for work-related expenses. Alan Kornberg, Esq., at Paul, Weiss, Rifkind, Wharton & Garrison, disclosed in a court filing that his firm is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code. Mr. Kornberg also made the following disclosures in response to the request for additional information set forth in Paragraph D.1 of the Revised U.S. Trustee Guidelines: Question: Did you agree to any variations from, or alternatives to, your standard or customary billing arrangements for this engagement? Response: Yes, due to the Debtor's nonprofit and charitable nature, the firm agreed to a 7.5 percent discount for all fees incurred post-petition. No other variations or alternatives to the firm's customary billing arrangements were agreed to with respect to this engagement. Question: Do any of the professionals included in this engagement vary their rate based on the geographic location of the bankruptcy case? Response: No. Question: If you represented the client in the 12 months prepetition, disclose your billing rates and material financial terms for the pre-petition engagement, including any adjustments or discounts offered during the 12 months pre-petition. If your billing rates and material financial terms have changed post-petition, explain the difference and the reasons for the difference. Response: The firm typically adjusts its billing rates on an annual basis and implemented a rate increase effective Oct. 1, 2021. Accordingly, the firm's rates for timekeepers for its pre-petition engagement on this matter were, for the period from (1) Oct. 2, 2020 to Sept. 30, 2021, $1,330 to $1,825 for partners, $1,400 for counsel, $510 to $1,185 for associates and staff attorneys, and $125 to $405 for paraprofessionals and (2) Oct. 1, 2021 to June 29, 2022, $1,530 to $2,025 for partners, $1,525 for counsel, $735 to $1,280 for associates, and $135 to $435 for paraprofessionals. Question: Has your client approved your prospective budget and staffing plan, and, if so, for what budget period? Response: Yes, from the petition date to Oct. 31, 2022. The firm can be reached at: Alan W. Kornberg, Esq. Andrew M. Parlen, Esq. William A. Clareman, Esq. John T. Weber, Esq. Paul, Weiss, Rifkind, Wharton & Garrison, LLP 1285 Avenue of the Americas New York, NY 10019 Tel: (212) 373-3000 Fax: (212) 757-3990 Email: akornberg@paulweiss.com aparlen@paulweiss.com wclareman@paulweiss.com jweber@paulweiss.com About Madison Square Boys & Girls Club Madison Square Boys & Girls Club, Inc. -- https://www.madisonsquare.org -- was established to save and enhance the lives of New York City boys and girls who by means of economic or social factors are most in need of its services. Madison Square Boys & Girls Club sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 22-10910) on June 29, 2022. In the petition filed by Jeffrey Dold, chief financial officer, the Debtor reported $50 million to $100 million in assets and $100 million to $500 million in liabilities. The Debtor tapped Paul, Weiss, Rifkind, Wharton & Garrison, LLP as bankruptcy counsel; and Pillsbury Winthrop Shaw Pittman, LLP and Friedman Kaplan Seiler & Adelman, LLP as special counsels. Epiq Corporate Restructuring, LLC is the claims and noticing agent. MADISON SQUARE BOYS: Taps Teneo Capital as Financial Advisor ------------------------------------------------------------ Madison Square Boys & Girls Club, Inc., seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to hire Teneo Capital, LLC as its financial advisor. The firm's services include: a. strategic advice regarding the restructuring of the Debtor's obligations; b. assistance with the preparation of financial-related disclosures required by the court; c. assistance with the identification and implementation of short-term cash management procedures; d. advisory assistance in connection with the development and implementation of key employee compensation and other critical employee benefit programs; e. assistance with the identification of executory contracts and leases and performance of cost/benefit evaluations with respect to the affirmation or rejection of each; f. assistance to the Debtor's management team and counsel focused on the coordination of resources related to ongoing reorganization efforts; g. assistance with the preparation of financial information for distribution to creditors and others, including, but not limited to, cash flow projections and budgets, cash receipts and disbursement analysis, analysis of various asset and liability accounts, and analysis of proposed transactions for which court approval is sought; h. attendance at meetings and assistance in discussions with banks and other secured lenders, any official committee appointed in the Debtor's Chapter 11 case, the U.S. trustee and other parties, and assistance in the planned mediation of abuse-related claims, as requested; i. analysis of creditor claims by type, entity, and individual claim; j. assistance with the preparation of information and analysis necessary for the confirmation of a plan of reorganization; and k. other general business consulting services. Teneo will charge these hourly fees, subject to a 10 percent discount: Professional Level Regular Rates Adjusted Rates ------------------ ------------- -------------- Managing Directors/Sr. $800 - $1,300 $720 - $1,170 Managing Directors VP/Consultants/Directors $500 - $800 $450 - $720 Analysts/Associates $300 - $500 $270 - $450 In addition, the firm will seek reimbursement for work-related expenses. The firm received a retainer in the amount of $125,000. Robin Chiu, a senior managing director at Teneo, disclosed in a court filing that the firm is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code. Teneo can be reached at: Robin Chiu Teneo Capital, LLC 280 Park Ave, 4th Floor New York, NY 10017 Phone: +1 (212) 886 1600 Email: robin.chiu@teneo.com newyork@teneo.com About Madison Square Boys & Girls Club Madison Square Boys & Girls Club, Inc. -- https://www.madisonsquare.org -- was established to save and enhance the lives of New York City boys and girls who by means of economic or social factors are most in need of its services. Madison Square Boys & Girls Club sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 22-10910) on June 29, 2022. In the petition filed by Jeffrey Dold, chief financial officer, the Debtor reported $50 million to $100 million in assets and $100 million to $500 million in liabilities. The Debtor tapped Paul, Weiss, Rifkind, Wharton & Garrison, LLP as bankruptcy counsel; and Pillsbury Winthrop Shaw Pittman, LLP and Friedman Kaplan Seiler & Adelman, LLP as special counsels. Epiq Corporate Restructuring, LLC is the claims and noticing agent. MDWERKS INC: Ronin Sells 10M Preferred Shares to Tradition Reserve ------------------------------------------------------------------ MDWerks, Inc., in connection with the change of control and composition of the Board of Directors of the Company, entered into a Stock Purchase Agreement on July 21, 2022, with (i) Tradition Reserve I LLC, a New York limited liability company, the buyer; and (ii) Ronin Equity Partners, Inc., a Texas corporation, the seller. Pursuant to the agreement, Ronin Equity Partners agreed to sell, assign, transfer and deliver to Tradition Reserve I, on July 21, 2022 free and clear of all liens, 10,000,000 shares of Series A convertible preferred stock, par value $0.001 of the Company, held by the seller, representing 100% of the authorized and issued preferred stock, as of the closing. In exchange for the sale, assignment, transfer and delivery of the shares, Tradition Reserve I will pay to Ronin Equity Partners a total purchase price of $520,000. On July 21, 2022, the Purchase Price was paid in cash to Ronin Equity Partners pursuant to wire instructions provided to the buyer. Further, at the closing of the transactions contemplated within the agreement, the parties agreed that as of the closing: a) The Forgiven Debt (as defined hereinafter) was forgiven, as well as the Asia Note (as defined hereinafter), and any other loan agreements between the Company and Asia Pacific Partners, Inc., a Florida corporation. The parties acknowledge and agreed that the Company was indebted to APP, an affiliate of Ronin Equity Partners, in the amount of approximately $239,444, comprised of (i) the principal amount and accrued interest pursuant to a convertible promissory note dated July 18, 2014 in the amount of $210,000 as originally issued by the Company to Azure Associates, Inc. and purchased by APP on July 28, 2020, and (ii) various cash advances for a total of $29,444 as advanced by APP to the Company for working capital; b) The Company's Board of Directors is required to undertake such actions as required to: (i) Expand the Company Board to be a number of persons as determined by the buyer, and to name such persons as selected by the buyer as directors on the Company Board; (ii) Name such persons as selected by buyer as officers of the Company, to the positions as determined by the buyer; and (iii) Following (i) and (ii), all of the directors and officers of the Company, other than those named in or pursuant to (i) and (ii) shall resign from all such positions with the Company. The closing was subject to certain customary closing conditions, including, but not limited to, the accuracy of the representations and warranties made by the parties, all necessary consents having been obtained to effect the transactions, and the receipt of any necessary government approvals in order to effect the transactions contemplated in the agreement. Changes in Control of the Company Prior to the closing of the agreement, voting control of the Company was held by the seller, of which Jacob D. Cohen was the primary shareholder, and held voting and dispositive control over the shares. On the closing date, the buyer purchased the shares, which both pre- and post-conversion represented approximately 98.23% of the Company's outstanding voting securities as of July 27, 2022 (the date of this Current Report), resulting in a change in control of the Company. The Company designated the preferred stock so that each share shall hold with it conversion rights of 100 shares of common stock for every share of preferred stock held, and that each share of preferred stock will also hold with it the same number of common share votes prior to conversion as it would if fully converted to be used in voting on any company matter requiring a vote of shareholders. At closing date, there were 18,010,208 shares of common stock issued and outstanding. Kerry Cassidy is the majority membership unit holder and Managing Member of the buyer, and therefore is deemed to have voting and dispositive power over the Company's shares held by the buyer. As a result of the closing, the Company was no longer a company controlled by the seller. Prior to the closing, the Company was a shell company, and following the closing, the Company continues to be a shell company. There has been no change in the Company's shell company status or the Company's operations as a result of the closing. Departure of Director and Officer On the closing date, Michael Gelmon, the Company's sole officer and director as of the closing date, resigned from any and all positions with the Company. As such, there was a change in management of the Company, which also resulted in a change of control of the Company to its new officers and directors. On the closing dte, the Board of Directors of the Company increased the size of the Board by two persons, from one to three directors and appointed Steven C. Laker and Michael Nordlicht as members of the Board, to serve until their respective earlier death, resignation or removal from office, as well as to serve as Chief Executive Officer, and Chief Operating Officer and Secretary respectively. Also, Mr. Steven C. Laker was named as the chief executive officer, to serve in such position until his earlier death, resignation or removal from office, whereas Mr. Michael Nordlicht was named as the chief operating officer, to serve in such position until his earlier death, resignation or removal from office. Mr. Steven C. Laker, age 45 has served as the chief executive officer of Sunwave USA Holdings Inc., a company focused in the energy and sustainability industry since 2019. Previously, Mr. Laker served as chief executive officer of Agera Energy LLC and its affiliates, from 2014 through 2018. Mr. Michael Nordlicht, 34, has served as vice president of Sunwave since 2019. Previously, Mr. Nordlicht served as the general counsel for Agera Energy LLC and its affiliates, from June 2014 through January 2019. About MDWerks MDwerks, Inc. is a public shell company seeking to create value for its shareholders by merging with another entity with experienced management and opportunities for growth in return for shares of its common stock. No potential merger candidate has been identified at this time. The Company does not propose to restrict its search for a business opportunity to any particular industry or geographical area and may, therefore, engage in essentially any business in any industry. The Company has unrestricted discretion in seeking and participating in a business opportunity, subject to the availability of such opportunities, economic conditions, and other factors. Diamond Bar, Calif.-based TAAD LLP, the Company's auditor since 2020, issued a "going concern" qualification in its report dated April 15, 2022, citing that the Company has suffered recurring losses from operations that raises substantial doubt about its ability to continue as a going concern. MOUNTAIN PROVINCE: To Repurchase for Cancellation US$26.4M Notes ---------------------------------------------------------------- Mountain Province Diamonds Inc. has entered into separate, privately negotiated transactions with certain holders of its outstanding 8.000% Senior Secured Second Lien Notes due 2022 to repurchase for cancellation approximately US$26.4 million aggregate principal amount of the Notes for an aggregate cash repurchase price of approximately US$25.3 million. Following the cancellation of the repurchased Notes, approximately US$273.5 million aggregate principal amounts of Notes will remain outstanding Mountain Province may from time to time seek to repurchase additional Notes in open-market purchases, privately negotiated transactions or otherwise. Such repurchases, if any, will be upon such terms and at such prices as may be determined by the Company and the counterparty and will depend upon prevailing market conditions, the Company's liquidity requirements and other factors. Site Tour Mountain Province Diamonds hosted a Site Tour to the Gahcho Kue Mine on July 20th, with financial analysts and advisors in attendance. In addition to visiting the active mining/processing areas of Gahcho Kue, the tour also visited the Kelvin Exploration Camp, where all recent exploration activity at the Kennady North Project, as well as the imminent summer 2022 drill program will be executed from. Present at the site tour was covering Equity Research Analyst Kieron Hodgson of Panmure Gordon, a UK-based Investment Bank which has coverage on the Company. Access to his research can be found via equity research portal Research-Tree.com. The Company cautions that any such research provides a third-party view of the Company and is not endorsed by the Company. The Company will not redistribute third-party reports or otherwise republish or update such reports, but will maintain a list of analysts who cover the Company. Mark Wall, the Company's president and chief executive officer, commented: "We were extremely pleased to host the financial community for a site tour, the first tour since 2019, and an opportunity for us to showcase the Kennady exploration properties and the Gahcho Kue operations. The tour came on the back of our press release on the growth potential of the Hearn orebody and we continue to focus on mine extension possibilities." Earnings Release and Conference Call Details The Company will host its quarterly conference call on Wednesday Aug. 10, 2022 at 11:00am EST. Prior to the conference call, the Company will release Q2 2022 financial results on August 9th, after-market. Conference Call Dial-in Details: Title: Mountain Province Diamonds Inc Q2 Earnings Conference Call Conference ID: 56265156 Date of call: 08/10/2022 Time of call: 11:00 Eastern Time Expected Duration: 60 minutes Webcast Link: https://app.webinar.net/EjQrB08Bd0K Participant Toll-Free Dial-In Number: (+1) 888-390-0546 Participant International Dial-In Number: (+1) 416-764-8688 A replay of the webcast and audio call will be available on the Company's website. About Mountain Province Mountain Province Diamonds Inc. is a Canadian-based resource company listed on the Toronto Stock Exchange under the symbol 'MPVD'. The Company's registered office and its principal place of business is 161 Bay Street, Suite 1410, P.O. Box 216, Toronto, ON, Canada, M5J 2S1. The Company, through its wholly owned subsidiaries 2435572 Ontario Inc. and 2435386 Ontario Inc., holds a 49% interest in the Gahcho Kue diamond mine, located in the Northwest Territories of Canada. De Beers Canada Inc. holds the remaining 51% interest. The Joint Arrangement between the Company and De Beers is governed by the 2009 amended and restated Joint Venture Agreement. Mountain Province reported net income of C$276.17 million for the year ended Dec. 31, 2021, compared to a net loss of C$263.43 million for the year ended Dec. 31, 2020. As of Dec. 31, 2021, the Company had C$877.50 million in total assets, C$413.31 million in total current liabilities, C$336,000 in lease obligations, C$92.39 million in decommissioning and restoration liability, C$20.72 million in deferred income tax liabilities, and C$350.74 million in total shareholders' equity. Toronto, Canada-based KPMG LLP, the Company's auditor since 1999, issued a "going concern" qualification in its report dated March 28, 2022, citing that the Company faces liquidity challenges as a result of liabilities with maturity dates through December 2022 and short-term financial liquidity needs that raises substantial doubt about its ability to continue as a going concern. NATIONAL CINEMEDIA: Extends CEO's Term Until 2025 ------------------------------------------------- National CineMedia, Inc. and Thomas F. Lesinski, the Company's chief executive officer, agreed to extend the term of Mr. Lesinski's employment agreement with the Company to Dec. 31, 2025, with an effective date of Aug. 1, 2022. The Amended Employment Agreement provides that Mr. Lesinski's annual base salary will be increased to $925,000. Mr. Lesinski will also be eligible to participate in the Company's annual cash bonus program for senior executive officers, with a target annual bonus equal to 100% of his annual base salary; provided, however, that any bonus related to fiscal year 2022 will be prorated to account for the portion of the year he operated under his previous employment agreement. Mr. Lesinski will also be eligible to receive an additional bonus as established by the Compensation Committee of the Board of Directors, if any. The Company will also provide Mr. Lesinski the opportunity to receive a long-term incentive award with a grant date fair market value of at least $1,000,000 plus 250,000 premium priced options each year during the term, including a grant for fiscal year 2022 on the Effective Date, in such amounts and pursuant to such terms as may be determined in the sole discretion of the Board, subject to limitations in the Amended Employment Agreement related to the mix of equity awards. The other provisions of the Amended Employment Agreement, including provisions related to termination, are generally consistent with the terms of the Employment Agreement, dated Aug. 1, 2019, between the Company and Mr. Lesinski. About National CineMedia Inc. National CineMedia Inc. (NCM) is a cinema advertising network in the U.S. NCM's Noovie pre-show is presented exclusively in 50 leading national and regional theater circuits including AMC Entertainment Inc. (NYSE:AMC), Cinemark Holdings, Inc. (NYSE:CNK) and Regal Entertainment Group (a subsidiary of Cineworld Group PLC, LON: CINE). NCM's cinema advertising network offers broad reach and audience engagement with over 20,600 screens in over 1,600 theaters in 195 Designated Market Areas (all of the top 50). NCM Digital and Digital-Out-Of-Home (DOOH) go beyond the big screen, extending in-theater campaigns into online, mobile, and place-based marketing programs to reach entertainment audiences. National CineMedia, Inc. (NASDAQ:NCMI) owns a 47.4% interest in, and is the managing member of, National CineMedia, LLC. National Cinemedia reported a net loss attributable to the company of $48.7 million compared to a net loss attributable to the company of $65.4 million for the year ended Dec. 31, 2020. As of March 31, 2022, the Company had $821.6 million in total assets, $1.24 billion in total liabilities, and a total deficit of $421.4 million. NGL ENERGY: EVP of Strategic Initiatives to Quit in October ----------------------------------------------------------- John Ciolek, executive vice president, Strategic Initiatives, notified NGL Energy Partners LP that he will be resigning from his position with the Partnership effective Oct. 21, 2022 to pursue other interests closer to his family in New York, as disclosed in a Form 8-K filed with the Securities and Exchange Commission. About NGL Energy NGL Energy Partners LP is a diversified midstream energy partnership that transports, treats, recycles and disposes of produced water generated as part of the energy production process as well as transports, stores, markets and provides other logistics services for crude oil and liquid hydrocarbons. Originally formed in September 2010, the Company is a Delaware master limited partnership and its business is currently organized into the following three segments: (a) Water Solutions segment; (b) Crude Oil Logistics segment; and (c) Liquids Logistics segment. NGL Energy reported a net loss of $184.10 million for the year ended March 31, 2022, a net loss of $639.19 million for the year ended March 31, 2021, and a net loss of $398.78 million for the year ended March 31, 2020. OAXACA 1198 1ST AVENUE: Voluntary Chapter 11 Case Summary --------------------------------------------------------- Debtor: Oaxaca 1198 1st Avenue LLC 1198 1st Ave New York, NY 11065 Business Description: The Debtor is part of the restaurants industry. Chapter 11 Petition Date: August 3, 2022 Court: United States Bankruptcy Court Southern District of New York Case No.: 22-11063 Judge: Hon. Michael E. Wiles Debtor's Counsel: James J. DeCristofaro, Esq. 902 Broadway Fl 6 New York, NY 11010 Tel: (212) 500-1891 Email: james@DCLFIRM.com Estimated Assets: $50,000 to $100,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Vishal Dhar as secretary and treasurer. The Debtor failed to include in the petition a list of its 20 largest unsecured creditors. A full-text copy of the petition is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/7V4MNUI/Oaxaca_1198_1st_Avenue_LLC__nysbke-22-11063__0001.0.pdf?mcid=tGE4TAMA OAXACA AMSTERDAM: Voluntary Chapter 11 Case Summary --------------------------------------------------- Debtor: Oaxaca Amsterdam Avenue LLC 424 Amsterdam Ave New York, NY 10024 Business Description: The Debtor operates a taco restaurant in New York City. Chapter 11 Petition Date: August 3, 2022 Court: United States Bankruptcy Court Southern District of New York Case No.: 22-11062 Judge: Hon. Michael E. Wiles Debtor's Counsel: James J. DeCristofaro, Esq. 902 Broadway Fl 6 New York, NY 10010 Tel: (212) 500-1891 Email: james@DCLFIRM.com Estimated Assets: $50,000 to $100,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Vishal Dhar as secretary and treasurer. The Debtor failed to include in the petition a list of its 20 largest unsecured creditors. A full-text copy of the petition is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/64PLUIA/Oaxaca_Amsterdam_Avenue_LLC__nysbke-22-11062__0001.0.pdf?mcid=tGE4TAMA OAXACA HALSEY: Voluntary Chapter 11 Case Summary ------------------------------------------------ Debtor: Oaxaca Halsey Street LLC 478 Halsey St Brooklyn, NY 11233 Business Description: The Debtor operates a taco restaurant in New York City. Chapter 11 Petition Date: August 3, 2022 Court: United States Bankruptcy Court Southern District of New York Case No.: 22-11064 Judge: Hon. Michael E. Wiles Debtor's Counsel: James J. DeCristofaro, Esq. 902 Broadway Fl 6 New York, NY 10010 Tel: (212) 500-1891 Email: james@DCLFIRM.com Estimated Assets: $50,000 to $100,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Vishal Dhar as secretary and treasurer. The Debtor failed to include in the petition a list of its 20 largest unsecured creditors. A full-text copy of the petition is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/LSQ5MWA/Oaxaca_Halsey_Street_LLC__nysbke-22-11064__0001.0.pdf?mcid=tGE4TAMA PARKSLOPEDINER.COM INC: Taps Morrison Tenenbaum as Legal Counsel ---------------------------------------------------------------- Parkslopediner.com Inc., doing business as Daisy's Diner, seeks approval from the U.S. Bankruptcy Court for the Eastern District of New York to employ Morrison Tenenbaum, PLLC as its legal counsel. Morrison Tenenbaum will render these services: (a) advise the Debtor with respect to its powers and duties in the management of its estate; (b) assist in any amendments of schedules and other financial disclosures and in the preparation/review/amendment of a disclosure statement and plan of reorganization; (c) negotiate with the Debtor's creditors and take the necessary legal steps to confirm and consummate a plan of reorganization; (d) prepare legal papers; (e) appear before the bankruptcy court to represent and protect the interests of the Debtor and its estate; and (f) perform all other legal services for the Debtor that may be necessary and proper for an effective reorganization. The hourly rates of the firm's counsel and staff are as follows: Lawrence F. Morrison $595 Partners $450 Associates $380 Paraprofessionals $250 In addition, the firm will seek reimbursement for expenses incurred. The firm received retainer of $9,500 from the Debtor. Lawrence Morrison, Esq., an attorney at Morrison Tenenbaum, disclosed in a court filing that the firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Lawrence F. Morrison, Esq. Morrison Tenenbaum, PLLC 87 Walker Street, Floor 2 New York, NY 10013 Telephone: (212) 620-0938 Email: lmorrison@m-t-law.com About Parkslopediner.com Inc. Parkslopediner.com Inc., doing business as Daisy's Diner, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 22-41589) on July 1, 2022, listing as much as $1 million in both assets and liabilities. Judge Nancy Hershey Lord oversees the case. Lawrence F. Morrison, Esq., at Morrison Tenenbaum, PLLC serves as the Debtor's counsel. PEOPLE SPEAK: Unsecureds to Recover 20%-25% of Claims in Plan ------------------------------------------------------------- People Speak, LLC submitted a Disclosure Statement describing a Second Amended Plan of Reorganization dated August 1, 2022. On and after the Effective Date, the operation of the business of the Reorganized Debtor shall become the responsibility of the Reorganized Debtor. It is anticipated that the Debtor's going concern operations will cease upon the sale of the Blue Lagoon. In that event, the Reorganized Debtor's business operations will be limited to taking such actions as are necessary to consummate the sale(s) and distributions under the Plan, and will wind down thereafter. After cessation of going concern operations, the Reorganized Debtor will continue to exist for purposes of carrying out the terms and conditions of the Plan, including, but not limited to, prosecution of claims objections and Causes of Action and filing necessary tax returns. Class 5 consists of the LaGraize Allowed Secured Claim. Provided that Dr. LaGraize votes in favor of the Plan, thereby demonstrating his consent to release all claims asserted or assertible in the LaGraize Litigation or the Bankruptcy Case, Dr. LaGraize shall receive, in full satisfaction of the LaGraize Allowed Secured Claim, 40% of the net proceeds from the sale of the Blue Lagoon remaining after payment of closing costs, the remaining balance of the Loan Partners Secured Claim after payment of the net proceeds of the sale of the Maison Dubois, Administrative Claims, Priority Tax Claims, Other Priority Claims (if any), and Other Secured Claims, to the extent allowed. All remaining portions of the LaGraize Claim shall be treated as a Class 6 General Unsecured Claim. Class 6 consists of the General Unsecured Claims. Each Holder of a General Unsecured Claim shall receive, to the extent such Claim is Allowed, a pro rata share of the net proceeds from the sale or liquidation of the Remaining Assets, including the Blue Lagoon, after payment of the following Claims, to the extent Allowed: Administrative Claims, Priority Tax Claims, Other Priority Claims, the Loan Partners Secured Claim, Other Secured Claims, and the LaGraize Allowed Secured Claim, including a pro rata share of any recoveries obtained from Chapter 5 Claims and any other retained Causes of Action. Creditors have asserted eight General Unsecured Claims with an aggregate stated value of $2,225,646.94, exclusive of any portions of the Other Secured Claims that are not Secured. Unless otherwise provided in the Plan, the Debtor reserves all rights to object to all claims, including the General Unsecured Claims and to seek allowance or disallowance of same. Based upon the projections, the Debtor anticipates that Holders of Allowed General Unsecured Claims are likely to receive approximately 20% to 25% of the face value of their Allowed Claims. The exact date of the first distribution to Holders of Allowed General Unsecured Claims is contingent upon the timing of the Confirmation Hearing, the entry of the Confirmation Order, the occurrence of the Effective Date, and the sales of the Remaining Assets. However, as of the filing of this Disclosure Statement, the Debtor anticipates that the Initial Distribution Date will occur no later than May 31, 2023. Holders of General Unsecured Claims are Impaired under the Plan and are entitled to vote to accept or reject the Plan. Class 7 consists of the Debtor's Members, Rachele Riley and Derrick Riley. The Holders of the Membership Interests will receive nothing under the Plan unless all Holders of Allowed Claims in Classes 1-6 are either paid in full or agree to different treatment of Class 7 under the Plan. On or before the Effective Date, it is expected that the Debtor will have liquidated all or substantially all Remaining Assets, including, but not limited to, the Blue Lagoon and the Maison Dubois, and will have sufficient Cash on hand to fund payments required to be made at that time under the Plan. In the event that there is insufficient Cash for that purpose, the Chapter 11 Professionals will be paid and have or will have agreed to be paid from the proceeds of the liquidation of Remaining Assets pursuant to the Plan available after the Effective Date. The Debtor intends to fund substantially all distributions under the Plan through proceeds from the sale of the Blue Lagoon. As set forth in the Plan, the Debtor intends to auction the Blue Lagoon in preparation for a sale to be effected at the Confirmation Hearing. Clayton Randle ("Mr. Randle") has offered to purchase the Blue Lagoon for $2,100,000, (the "Initial Offer"), subject to satisfactory due diligence and the award of a $75,000 break-up fee if the Blue Lagoon is sold to another potential buyer. The Remaining Assets other than the Blue Lagoon consist primarily of the Debtor's FFE, which may secure Other Secured Claims. The FFE has not been appraised, but the Debtor believes such property is worth no more than $40,000. Under the Plan, the Debtor intends to sell the FFE via private sale or auction as a single package, or in two sets corresponding to the FEE located at each Rental Property, and distribute sale proceeds to the Holders of Allowed Other Secured Claims, according to the priority of the Other Secured Claims asserted against the FFE. Otherwise, the Debtor will surrender the FFE to those parties or abandon the FFE. The Debtor does not expect that sale proceeds for the FEE will exceed the face value of Allowed Other Secured Claims. A full-text copy of the Disclosure Statement dated August 1, 2022, is available at https://bit.ly/3BHMOcy from PacerMonitor.com at no charge. Debtor's Counsel: LUGENBUHL, WHEATON, PECK, RANKIN & HUBBARD STEWART F. PECK CHRISTOPHER T. CAPLINGER JAMES W. THURMAN 601 Poydras Street, Suite 2775 New Orleans, LA 70130 Telephone: (504) 568-1990 Facsimile: (504) 310-9195 About People Speak People Speak, LLC, a privately held company that operates in the traveler accommodation industry, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. La. Case No. 21-10315) on March 11, 2021. Rachele Riley, owner, and member signed the petition. The Debtor disclosed $1 million to $10 million in both assets and liabilities in the petition. Judge Meredith S. Grabill oversees the case. Lugenbuhl, Wheaton, Peck, Rankin & Hubbard, led by Stewart F. Peck, Esq., serves as the Debtor's counsel. PRITHVI INVESTMENTS: Business Income & Sale Proceeds to Fund Plan ----------------------------------------------------------------- Prithvi Investments, LLC, filed with the U.S. Bankruptcy Court for the Northern District of California a Proposed Combined Plan of Reorganization and Disclosure Statement dated August 1, 2022. Prithvi Investments, LLC, owns and operates a Quality Inn & Suites hotel in Santa Rosa, California ("Hotel"). Prithvi LLC bought the Hotel on or about July 24, 2018. The immediate cause for this Chapter 11 filing is related to Poppy Bank's actions. With the challenges presented by the pandemic, the Debtor missed payments for approximately three months in 2021 and on or about July 21, 2021, Poppy Bank recorded Notice of Default and Election to Sell Under Deed of Trust for the $2.5MM Note. Class 2(A) is an optional class for any creditor whose allowed claim is $5,000 or less. Eligible creditors who elect to participate in this Class by voting yes will receive on the Effective Date of the Plan a single payment equal to 25% of its allowed claim without interest. Eligible creditors in this class that vote no, shall be treated as Class 2(B) Other General NonPriority Unsecured Claims. Class 2(B) consists of Other General Non-Priority Unsecured Claims. The allowed claims of other general non-priority unsecured creditors shall be paid on a pro-rata basis from the proceeds of the sale. Creditors in this class may not take any collection action against Debtor so long as Debtor is not in material default under the Plan. This class is impaired. Class 3 consists of Equity Security Interest Holders Bhavesh Patel and Reena Patel. Holders of equity security interests shall retain their interest and all legal and equitable rights with respect thereto. These interests are not impaired and are not entitled to vote on confirmation of the Plan. Class 4(A) consists of Choice Hotels International, Inc. Claim. Debtor to assume the Franchise Agreement with Choice Hotels International, Inc. With respect to the pre-petition arrears in the amount of $78,236.34, Debtor will pay 15% down on the Effective Date. The remaining amounts will be paid of the 25th day of the month following the month in which the Effective Date falls, in equal monthly installments with interest calculated at the federal post-judgment rate. To the extent the Class 4(a) claim has not been paid in full as of the sale of the hotel, the balance will be paid from the sale proceeds prior to the General Non-Priority Unsecured Creditors as an administrative claim. Class 4(B) consists of NFS Leasing, Inc. Claim. Debtor to assume the Master Equipment Lease with NFS Leasing, Inc. Pre-confirmation arrears will be paid on the first day of each month in equal monthly installments with interest calculated at the federal post-judgment rate. With respect to the payment of post-confirmation payments pending sale of the hotel, Debtor and NFS Leasing, Inc. are to agree to reduced payments of $15,000 per month (reduction from present $16,286 per month). A balloon payment shall be due on the last payment in the amount of the sum of the payment reductions. Prior to the sale of the hotel and associated collateral, distributions under this Plan shall be funded from income generated by the operation of the Debtor’s business. Following the sale, distributions shall be made from the proceeds of the sale. Debtor intends to promptly move towards selling the Hotel but providing for the appropriate and required marketing and sale process. Debtor has already engaged in discussions with a potential broker to list the Hotel. Debtor also intends to obtain Court approval to retain a broker prior to the Effective Date. Debtor believes that by marketing the Hotel appropriately and for a sufficient period, the Debtor and subsequently creditors will receive higher value from the sale than if the Hotel was to be liquidated. A full-text copy of the Combined Plan and Disclosure Statement dated August 1, 2022, is available at https://bit.ly/3zr4OoN from PacerMonitor.com at no charge. Attorney for the Debtor: Christopher D. Sullivan, Esq. Roxanne Bahadurji, Esq. Diamond McCarthy LLP 150 California Street, Suite 2200 San Francisco, CA 94111 Telephone: (415) 692-5200 Facsimile: (415) 263-9200 Email: csullivan@diamondmccarthy.com roxanne.bahadurji@diamondmccarthy.com About Prithvi Investments Prithvi Investments, LLC C owns and operates a 64-room Quality Inn and Suites hotel in Santa Rosa, California. In addition to providing guest rooms, the Hotel has a breakfast dining area and a fitness room. The Hotel has 68 parking spaces and operates under a license agreement with Choice Hotel, International Inc. Prithvi LLC is one of eight LLCs (the "Patel Hotel Entities") owned by the family of Jashvant and Hansaben Patel that own and operate 14 hotels in California. Due to the significant interruption in business by the Covid-19 pandemic, three of the LLCs, Rudra Investments, LLC, Hansaben Investments, LLC, and Prithvi LLC, were forced to file Chapter 11 to reorganize their debts. Prithvi Investments sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 22-30259) on May 25, 2022. In the petition filed by Hitesh Patel, president, the Debtor disclosed up to $50 million in both assets and liabilities. Judge Dennis Montali oversees the case. Christopher D. Sullivan, Esq., at Diamond McCarthy LLP is the Debtor's counsel. PUERTO RICO: Coalition Asks Court to Withhold McKinsey Payments --------------------------------------------------------------- A coalition of community groups is asking the judge overseeing Puerto Rico's historic bankruptcy to withhold additional payments to McKinsey & Co. for its work on the island's debt restructuring. In a letter sent to US District Court Judge Laura Taylor Swain, a group called Power 4 Puerto Rico said McKinsey's final fee application should be denied. "As of August 2021, the debt restructuring process has cost Puerto Rican taxpayers close to $939 million dollars. This is due, in large part, to the Financial Oversight and Management Board (FOMB)'s procurement of hundreds of bankruptcy attorneys, consultants, and professionals, who bill an average of $700 dollars per hour. The Congressional Budget Office (CBO) estimated the Board would cost Puerto Rico $370 million over a 10-year period. Not even half of that period has passed, and the Board's administrative costs are close to tripling the original estimate," the group said in an e-mail to the judge. "Since 2016, McKinsey & Company has been one of the consulting firms benefitting from the Board's procurement of professional services, and its fiscal weight is substantial. By August 2019, the firm had billed close to $72 million, with an approximate monthly cost of $3.3 million dollars. McKinsey's final fee application is expected to sum up to $120 million dollars. If this amount were to be approved and paid, it would constitute not only an additional exorbitant expense shouldered by Puerto Rico's taxpayers but also a potential violation to the disclosure requirements imposed by PRRADA, and a reward to a firm that has inflicted pain and austerity to Puerto Ricans, as well as to other citizens globally." Power 4 Puerto Rico is a national coalition of the Puerto Rican Diaspora and allies that promotes fair recovery, economic growth and self-sufficiency for the island. Among the issues raised by the group against McKinsey are: 1. McKinsey was and may still be a creditor of Puerto Rico, and therefore could be considered a party with adverse interests in the case. 2. The consulting firm has helped the Board review contracts with companies that are also its clients. These contracts total tens of billions of dollars. Some of the companies that have been awarded contracts while retaining McKinsey as their consultant are: a. Quanta Services Inc. – which owns half of the joint venture to operate the electric service in Puerto Rico for 15 years. LUMA Energy, LLC (LUMA) is the joint venture between Quanta Services Inc. and Canadian Utilities Limited, an ATCO Ltd. Company (ATCO). b. Puma Energy Caribe LLC – more than $2.1 billion to ship diesel to run PR's utility system. c. EcoElectrica LP and Nature Energy Group SA – $9 billion for EcoElectrica to provide power and Naturgy to supply natural gas. d. New Fortress Energia LLC - $1.5 billion to convert two publicly owned power-generation facilities to natural gas. e. Molina Healthcare – $900 million to provide healthcare services through a managed care model. f. Manpower Group – $250 million to provide workforce management services. 3. McKinsey held an adverse interest when the Government of Puerto Rico sued the company and sought civil penalties for its involvement in the opioid crisis. About Puerto Rico Puerto Rico is a self-governing commonwealth in association with the United States that's facing a massive bond debt of $70 billion, a 68% debt-to-GDP ratio and negative economic growth in nine of the last 10 years. The Commonwealth of Puerto Rico has sought bankruptcy protection, aiming to restructure its massive $74 billion debt-load and $49 billion in pension obligations. The debt restructuring petition was filed by Puerto Rico's financial oversight board in U.S. District Court in Puerto Rico (Case No. 17-01578) on May 3, 2017, and was made under Title III of 2016's U.S. Congressional rescue law known as the Puerto Rico Oversight, Management, and Economic Stability Act ('PROMESA'). The Financial Oversight and Management Board later commenced Title III cases for the Puerto Rico Sales Tax Financing Corporation (COFINA) on May 5, 2017, and the Employees Retirement System (ERS) and the Puerto Rico Highways and Transportation Authority (HTA) on May 21, 2017. On July 2, 2017, a Title III case was commenced for the Puerto Rico Electric Power Authority ("PREPA"). U.S. Chief Justice John Roberts has appointed U.S. District Judge Laura Taylor Swain to oversee the Title III cases. The Honorable Judith Dein, a United States Magistrate Judge for the District of Massachusetts, has been designated to preside over matters that may be referred to her by Judge Swain, including discovery disputes, and management of other pretrial proceedings. Joint administration of the Title III cases, under Lead Case No. 17-3283, was granted on June 29, 2017. The Oversight Board has hired as advisors, Proskauer Rose LLP and O'Neill & Borges LLC as legal counsel, McKinsey & Co. as strategic consultant, Citigroup Global Markets, as municipal investment banker, and Ernst & Young, as financial advisor. Martin J. Bienenstock, Esq., Scott K. Rutsky, Esq., and Philip M. Abelson, Esq., of Proskauer Rose; and Hermann D. Bauer, Esq., at O'Neill & Borges are on-board as attorneys. McKinsey & Co. is the Board's strategic consultant, Ernst & Young is the Board's financial advisor, and Citigroup Global Markets Inc. is the Board's municipal investment banker. Prime Clerk LLC is the claims and noticing agent. Prime Clerk maintains a case web site at https://cases.primeclerk.com/puertorico Epiq Bankruptcy Solutions LLC is the service agent for ERS, HTA, and PREPA. O'Melveny & Myers LLP is counsel to the Commonwealth's Puerto Rico Fiscal Agency and Financial Advisory Authority (AAFAF), the agency responsible for negotiations with bondholders. The Oversight Board named Professor Nancy B. Rapoport as fee examiner and to chair a committee to review professionals' fees. * * * The two Title III plans of adjustment have been confirmed to date, for the Commonwealth and COFINA debtors. REPLICEL LIFE: Cell Therapy Manufacturing Inspected by Japan's PMDA ------------------------------------------------------------------- RepliCel Life Sciences Inc. announced the completion of an inspection of RepliCel's NBDS cell therapy manufacturing at its Austrian contract manufacturing facility owned and operated by Innovacell KK (Tokyo, Japan). The inspection was performed, in accordance with the specifications set out in Japan's Act for the Safety of Regenerative Medicine (ASRM), by specialists of the Japanese Pharmaceutical and Medical Devices Agency (PMDA) at the request of Japan's Ministry of Health, Labour & Welfare (MHLW) upon application by RepliCel for certification of its NBDS cell therapy manufacturing. MHLW manufacturing certification, obtained after successful completion and passing of an inspection by PMDA specialists, is a precursor to the ASRM-governed clinical studies RepliCel is preparing to conduct in Japan of its two NBDS cell therapies, RCT-01 and RCS-01 for the treatment of chronic tendinopathy and the rejuvenation of aging/sun-damaged skin. Such certification of RepliCel's manufacturing would be the first of its kind. Despite having certified facilities in Korea, China and Taiwan, no cell therapy manufacturing facility has yet received such a certification outside of Asia. "This is another milestone in RepliCel's First-in-Japan program," states RepliCel's President & CEO, R. Lee Buckler. "Our RCH-01 cell therapy was one of the first to be launched into clinical study under Japan's ASRM pathway. It was also one of the first corporate-sponsored cell therapy, and the first cell therapy developed outside of Asia, to be the subject of an ASRM clinical study." "As we prepare for our next-phase clinical studies in Japan," Buckler continues, "we are building a strong network of support and accomplishments. Our business, clinical and regulatory teams are doing everything needed to ready our programs for clinical evaluation and commercialization in Japan." RepliCel's team in Japan includes: * regenerative medicine industry specialists, CJ PARTNERS; * clinical research organization, Accerise; * globally prominent key opinion leaders engaged as clinical advisors in dermatology and orthopedics in Japan; and * the Company's Senior Strategic Advisor for Japan, Kunihiko Suzuki, one of the leading business pioneers in the Japanese cell therapy industry. Mr. Suzuki has recently been appointed by Japan's Forum for Innovative Regenerative Medicine (FIRM, Japan's cell/gene therapy industry organization), as Chair of FIRM's Specific Process Cells Committee intended to bring increased rigor and industry oversight to the development, manufacture, and commercialization of cell therapies, such as RepliCel's RCS-01, being clinical tested and commercialized in Japan under country's ASRM pathway. About Replicel RepliCel Life Sciences Inc. is a regenerative medicine company focused on developing cell therapies for aesthetic and orthopedic conditions affecting what the Company believes is approximately one in three people in industrialized nations, including aging/sun-damaged skin, pattern baldness, and chronic tendon degeneration. These conditions, often associated with aging, are caused by a deficit of healthy cells required for normal tissue healing and function. These cell therapy product candidates are based on RepliCel's innovative technology, utilizing cell populations isolated from a patient's healthy hair follicles. Replicel Life reported a net loss and comprehensive loss of C$4.07 million for the year ended Dec. 31, 2021, compared to a net loss and comprehensive loss of C$1.58 million for the year ended Dec. 31, 2020. As at Dec. 31, 2021, the Company had C$591,794 in total assets, C$7.43 million in total liabilities, and a total shareholders' deficiency of C$6.84 million. Vancouver, British Columbia-based BDO Canada LLP, the Company's auditor since 2010, issued a "going concern" qualification in its report dated June 28, 2022, citing that the Company has accumulated losses of $42,231,642 since its inception and incurred a loss of $4,073,315 during the year ended Dec. 31, 2021. These events or conditions, along with other matters, indicate that a material uncertainty exists that may cast substantial doubt about its ability to continue as a going concern. REVLON INC: Judge Approves Add'l $200M of DIP Financing ------------------------------------------------------- Jeremy Hill of Bloomberg News reports that Revlon Inc.'s bankruptcy judge will allow the cosmetics giant to draw on a further $200 million of debtor-in-possession financing pending certain tweaks to the deal. US Bankruptcy Judge David Jones said he would approve the financing as long as Revlon boosts a budget set aside for low-ranking creditors to investigate controversial pre-bankruptcy debt deals, among other modifications discussed in a hearing Monday, August 1, 2022. Judge Jones already allowed Revlon to borrow $375 million of the cash on an interim basis shortly after filing for bankruptcy. At a hearing on July 28, Revlon defended its proposed $1.4 billion Chapter 11 financing package from arguments that it was a bad deal for unsecured creditors forced on a company desperate for the cash it needed to stay in operations. While Revlon argued that the deal was fair and reasonable, unsecured creditors argued Revlon had agreed to bad terms like a too-short bankruptcy schedule and cash repayment of the DIP lenders' pre-petition loans because it was out of options. About Revlon Inc. Revlon Inc. manufactures, markets and sells an extensive array of beauty and personal care products worldwide, including color cosmetics; fragrances; skin care; hair color, hair care and hair treatments; beauty tools; men's grooming products; anti-perspirant deodorants; and other beauty care products. Today, Revlon's diversified portfolio of brands is sold in approximately 150 countries around the world in most retail distribution channels, including prestige, salon, mass, and online. Since its breakthrough launch of the first opaque nail enamel in 1932, Revlon has provided consumers with high quality product innovation, performance and sophisticated glamour. In 2016, Revlon acquired the iconic Elizabeth Arden company and its portfolio of brands, including its leading designer, heritage and celebrity fragrances. Revlon is among the leading global beauty companies, with some of the world's most iconic and desired brands and product offerings in color cosmetics, skin care, hair color, hair care and fragrances under brands such as Revlon, Revlon Professional, Elizabeth Arden, Almay, Mitchum, CND, American Crew, Creme of Nature, Cutex, Juicy Couture, Elizabeth Taylor, Britney Spears, Curve, John Varvatos, Christina Aguilera and AllSaints. Revlon, Inc., sought Chapter 11 protection (Bankr. S.D.N.Y. Case No. 22-10760) on June 15, 2022. Fifty affiliates, including Almay, Inc, Beautyge Brands USA, Inc., and Elizabeth Arden, Inc., also sought bankruptcy protection on June 15 and June 16, 2022. Revlon disclosed total assets of $2,328,093,000 against total liabilities of $3,689,240,395 as of April 30, 2022. The Hon. David S. Jones is the case judge. PJT Partners is acting as financial advisor to Revlon and Alvarez & Marsal is acting as restructuring advisor. Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal advisor to the Company. Mololamken, LLC, is the conflicts counsel. Kroll, LLC, is the claims agent. ROCKY MOUNTAIN: Taps Kutner Brinen Dickey Riley as Legal Counsel ---------------------------------------------------------------- Rocky Mountain Homecare, Inc., received approval from the U.S. Bankruptcy Court for the District of Colorado to hire Kutner Brinen Dickey Riley, P.C. to serve as legal counsel in its Chapter 11 case. The firm's services include: a. providing the Debtor with legal advice with respect to its powers and duties; b. assisting the Debtor in the development of a plan of reorganization under Chapter 11; c. filing the necessary pleadings, reports and actions, which may be required in the continued administration of the Debtor's property under Chapter 11; d. taking necessary actions to enjoin and stay until final decree continuation of pending proceedings, and to enjoin and stay until final decree commencement of lien foreclosure proceedings and all matters as may be provided under Section 362 of the Bankruptcy Code; and e. performing all other necessary legal services for the Debtor. The firm holds a pre-bankruptcy retainer for payment of post-petition fees and costs in the amount of $12,945. As disclosed in court filings, Kutner does not represent interests adverse to the Debtor's estate. The firm can be reached through: Jenny M.F. Fujii, Esq. Kutner Brinen Dickey Riley, P.C. 1660 Lincoln Street, Suite 1720 Denver, CO 80264 Telephone: (303) 832-2400 Email: jmf@kutnerlaw.com About Rocky Mountain Homecare Rocky Mountain Homecare, Inc., a company in Arvada, Colo., filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Colo. Case No. 22-12306) on June 28, 2022, listing up to $50,000 in assets and up to $10 million in liabilities. Mark David Dennis has been appointed as Subchapter V trustee. Judge Elizabeth E. Brown oversees the case. Jenny M.F. Fujii, Esq., at Kutner Brinen Dickey Riley, P.C., is the Debtor's counsel. SABRE CORP: S&P Assigns 'B' Rating on New $400MM Term Loan B ------------------------------------------------------------ S&P Global Ratings assigned its 'B' issue-level rating and '3' recovery rating to Sabre Corp.'s proposed $400 million term loan B. The '3' recovery rating indicates its expectation for meaningful (50%-70%; rounded estimate: 55%) recovery in the event of a payment default. The net proceeds will be used to redeem a portion of the company's $1.2 billion term loan B due in 2024, which will modestly improve its debt maturity profile and partially offset by higher interest costs. S&P's 'B' issuer credit rating and negative outlook on Sabre are unchanged, reflecting its expectation that the recovery in travel volumes will help moderate cash burn over the next 12 months. However, downside risks from COVID-19 pandemic-related travel restrictions or a slowdown in travel recovery in a recessionary environment remain. ISSUE RATINGS – RECOVERY ANALYSIS Key analytical factors -- S&P's simulated default scenario considers a default in 2025, likely due to the combination of a significant disruption in the global travel industry and an economic recession. -- Sabre's capital structure comprises senior secured debt and unsecured convertible notes (not rated). Sabre GLBL Inc. is the borrower under its senior secured credit facility and the issuer of the secured notes and unsecured exchangeable notes. The company's secured debt is unconditionally guaranteed by Sabre Holdings Corp., in addition to the borrower's other material domestic U.S. subsidiaries. -- The collateral for the company's secured debt comprises a first-priority security interest in substantially all the assets of the borrowers and guarantors. -- Sabre GLBL is the borrower of the proposed senior secured term loan facility, which is pari passu with the senior secured notes. Simulated default assumptions -- Simulated year of default: 2025 -- Emergence EBITDA: About $462 million -- EBITDA multiple: 6.5x Simplified waterfall -- Gross enterprise value: About $3 billion -- Net enterprise value (after administrative costs and priority claims): About $2.85 billion -- Senior secured debt: $4.9 billion --Recovery expectations: 50%-70% (rounded estimate: 55%) -- Unsecured convertible note claims: About $340 million --Recovery expectations: Not applicable All debt amounts include six months of prepetition interest. Ratings List SABRE CORP. Issuer Credit Rating B/Negative/-- NEW RATING SABRE GLBL INC. Senior Secured US$400 mil term B bank ln due 06/30/2028 B Recovery Rating 3(55%) STONEMOR INC: To Release 2022 Second Quarter Results on August 11 ----------------------------------------------------------------- StoneMor Inc. expects to release 2022 second quarter financial results on Thursday, Aug. 11, 2022 after the market closes. In connection with this announcement, StoneMor plans to hold a conference call to discuss its results later that day at 4:30 p.m. eastern time. This conference call can be accessed by calling (800) 954-0601. No reservation number is necessary; however, it is advised that interested parties access the call-in number 5 to 10 minutes prior to the scheduled start time to avoid delays. StoneMor will also host a live webcast of this conference call. Investors may access the live webcast via the Investors page of the StoneMor website www.stonemor.com under Events & Presentations. About StoneMor Inc. StoneMor Inc. (http://www.stonemor.com),headquartered in Bensalem, Pennsylvania, is an owner and operator of cemeteries and funeral homes in the United States, with 304 cemeteries and 72 funeral homes in 24 states and Puerto Rico. StoneMor's cemetery products and services, which are sold on both a pre-need (before death) and at-need (at death) basis, include: burial lots, lawn and mausoleum crypts, burial vaults, caskets, memorials, and all services which provide for the installation of this merchandise. StoneMor reported a net loss of $55.28 million for the year ended Dec. 31, 2021, a net loss of $8.36 million for the year ended Dec. 31, 2020, and a net loss of $151.94 million for the year ended Dec. 31, 2019. As of March 31, 2022, the Company had $1.78 billion in total assets, $1.94 billion in total liabilities, and a total stockholders' deficit of $157.48 million. SUN PACIFIC: Unit Structures Deal for Battery Service, Repair ------------------------------------------------------------- Sun Pacific Holding Corp.'s wholly owned subsidiary, Sun Pacific Power has structured an agreement with Marine Electric Systems Inc. to handle their battery service and repair for FoxESS and technology development. Marine Electric serves a range of important clients including the US Navy. The North American battery market was valued at US$22.51 billion in 2020, and it is anticipated to reach US$53.84 billion by 2027. Nicholas Campanella, CEO of Sun Pacific Holding Corp, stated, "We are excited to work with a local partner that will help in maintenance and service repairs as well as using their skilled and talented team to help us grow our company and plans. We have been working with Marine Electric and their team on various technologies including our ongoing efforts with their light towers." Mr. Harry Epstein, CEO of Marine Electric Systems, Inc said, "Working with a progressive and great company like Sun Pacific Power which has a great vision and large networking opportunity will be an asset for our company to grow and expand our operations and service capacity to help create more USA made opportunities and foreign service work." About Sun Pacific Headquartered in Manalapan NJ, Sun Pacific Holding Corp -- http://www.sunpacificholding.com-- offers "Next Generation" solar panel and lighting products by working closely with design, engineering, integration and installation firms in order to deliver turnkey solar and other energy efficient solutions. It provides solar bus stops, solar trashcans and "street kiosks" that utilize advertising offerings that provide State and local municipalities with costs efficient solutions. The Company provides general, electrical, and plumbing contracting services to a range of both public and commercials customers in support of its goals of expanding its green energy market reach. As of Dec. 31, 2021, the Company had $286,705 in total assets, $3.17 million in total liabilities, and a total stockholders' deficit of $2.88 million. Dallas, Texas-based Turner, Stone & Company, L.L.P., the Company's auditor since 2017, issued a "going concern" qualification in its report dated April 15, 2022, citing that the Company has suffered recurring losses from operations since inception and has a significant working capital deficiency, both of which raise substantial doubt about its ability to continue as a going concern. TORINO CAMPUS: Creditors to Get 100% After Plan Sale ---------------------------------------------------- Torino Campus, LLC, filed with the U.S. Bankruptcy Court for the Southern District of Florida a Disclosure Statement describing Plan of Reorganization dated August 1, 2022. The Debtor owns real estate located at 5481 NW E Torino Parkway, Port St. Lucie, FL (the "property"). The Debtor has a tenant that is a company that operates a substance abuse and mental health treatment center. The bankruptcy case was filed to delay a foreclosure sale on the property to allow the Debtor to complete the sale that is under contract for $3,200,000. The creditor, United Community Bank, obtained a judgment in the amount of $2,781,959. The Debtor calculated the amount that would be due as of August 31, 2022 would be approximately $2,932,867. This calculation is using the judgment rate of interest of 4.34%. A hearing on the motion to approve the sale of the property is set for August 24, 2022. Upon the sale of the property, the Debtor will wrap up its business and dissolve. The Debtor has other minor debts. It owes Huntington $3,637.44 for its kitchen equipment. It has a lease with Ascentium Capital for a generator. The tenant will assume these obligations and make payments. The Debtor's ability to fully fund the plan depends solely on the Debtor's ability to sell the Property. Class 1 consists of the secured claim of United Community Bank which is approximately $2,932,867 when calculated from the judgment date and using the judgment rate of interest through August 31, 2022. This amount will be paid in full satisfaction of the claim upon the closing of the sale of 5481 NW E Torino Parkway. The class is unimpaired. Class 2 consists of the secured claim of Huntington in the amount of $3,637.44. This amount will be paid in full satisfaction of the claim upon the closing of the sale of 5481 NW E Torino Parkway. The class is unimpaired. The Plan offers to pay all creditors 100% of their allowed claims. A full-text copy of the Disclosure Statement dated August 1, 2022, is available at https://bit.ly/3cVqqC5 from PacerMonitor.com at no charge. Debtor's Counsel: Brian K. McMahon, Esq. Brian K. McMahon, PA 1401 Forum Way, 6th Floor West Palm Beach, FL 33401 Telephone: (561) 478-2500 Facsimile: (561) 478-3111 Email: brian@bkmbankruptcy.com About Torino Campus Torino Campus, LLC, a Florida Limited Liability Company, exists solely to own real estate located at 5481 NW E Torino Parkway, Port St. Lucie, FL. To delay a foreclosure sale, Torino Campus, LLC, sought bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 22-15442) on July 15, 2022. In the petition filed by Jose Toledo, managing member, the Debtor listed as much as $10 million in both assets and liabilities. Judge Mindy A. Mora oversees the case. Brian K. McMahon, Esq., at Brian K. McMahon PA, is the Debtor's counsel. VERITAS FARMS: Names Alessandro Annoscia as President, CEO ---------------------------------------------------------- The Board of Directors of Veritas Farms, Inc. appointed Alessandro M. Annoscia, 58, to serve as the Company's chief executive officer and president to assume the duties of principal executive officer and as a Board member effective July 25, 2022. The Company's current Chief Executive Officer, Stephen E. Johnson, will step down as chief executive officer, president, and a director of the Company, and from any and all other positions he holds with the Company and its subsidiary as of the Effective Date, and will continue with the Company as a consultant to provide transition services for a period of three months following the Effective Date. Prior to joining the Company, from April 2021 to July 2022, Mr. Annoscia was Head of Product Integration for Brightline Trains Florida, LLC., a private transportation company which operates an express passenger rail system connecting major population centers in Florida. From May 2019 to February 2022 Mr. Annoscia was with Xapo Bank Ltd., a private full-service bank, where he served in positions of increasing responsibility, most recently as its chief operating officer. Prior to joining Xapo Bank Ltd., Mr. Annoscia was with Parabolt S.A., a software development and information technology services company, from April 2017 to April 2019 where he served in positions of increasing responsibility, most recently as its chief innovation officer. Mr. Annoscia holds a Bachelor of Arts degree in Computer Science from Jones College. Alessandro M. Annoscia Offer Letter On July 25, 2022, the Company entered into an offer letter with Mr. Annoscia to set forth the terms and conditions of Mr. Annoscia's employment as chief executive officer and president of the Company. Mr. Annoscia will receive an annual base salary of $240,000, he will be entitled to participate in the Company's current employee benefit plans and programs, including health, dental, and vision insurance, and he will be eligible to participate in any equity incentive compensation or bonus compensation plans the Company has in effect from time to time. Mr. Annoscia will receive an initial equity award consisting of 2,000,000 performance restricted shares, which shares will be subject to the successful achievement of mutually agreed upon performance goals for his first year and second year. The performance restrictions will lapse in two tranches of 1,000,000 shares subject to and upon the verification and validation of the achievement of the performance goals for Year One and Year Two, and continued employment with the Company through the performance period for Year One and Year Two, respectively. The issuance of the Performance Restricted Shares is subject to the approval of the Company's Board of Directors and shareholders of the Company's 2022 Equity Incentive Plan under which the Performance Restricted Shares will be issued. On July 25, 2022, Mr. Annoscia also entered into a Proprietary Information and Non-Compete Agreement with the Company which contains customary non-disclosure, non-solicitation and non-interference covenants, as well as a one year non-compete following the termination of Mr. Annoscia's employment with the Company, which covenant will be reduced to six months in certain events. Johnson Separation Agreement and Consulting Agreement On July 25, 2022, in connection with Mr. Johnson's transition services and separation from employment with the Company, the Company and Mr. Johnson entered into a Consulting Agreement to assist with the transition and Separation Agreement, effective on the Effective Date, pursuant to which the Company has agreed to provide Mr. Johnson with the following benefits, subject in each case to Mr. Johnson's compliance with the terms and conditions of the Consulting Agreement and Separation Agreement, non-revocation of a general release of claims in favor of the Company, and compliance with applicable restrictive covenants: (i) reimbursement of premiums to maintain group health insurance continuation benefits pursuant to 'COBRA' for Mr. Johnson and his dependents on Mr. Johnson's health insurance as in effective immediately prior to the Effective Date, subject to Mr. Johnson's payment of the cost of such benefits to the same extent that he paid for such benefits prior to the Effective Date, through the earlier of three months after the Effective Date or until Mr. Johnson is covered by another group medical insurance plan, and (ii) extension of the period during which Mr. Johnson's 150,000 outstanding vested options remain exercisable following the Effective Date to six months following the Effective Date. The Separation Agreement additionally contains, among other things, customary releases, confidentiality, and non-disparagement provisions. Under the Separation Agreement, Mr. Johnson also agreed that he would continue to comply with his existing confidentiality, non-solicitation, and non-compete obligations (described in the Employment Agreement). In addition, effective on the Effective Date the Company entered into a Consulting Agreement with Mr. Johnson for a term of three months pursuant to which Mr. Johnson will provide consulting services in order to transition to his successor in exchange for a consulting fee of $8,653.85 per bi-weekly pay period. About Veritas Fort Lauderdale, Florida-based Veritas Farms, Inc. -- www.TheVeritasFarms.com -- is a vertically-integrated agribusiness focused on growing, producing, marketing, and distributing superior quality, whole plant, full spectrum hemp oils and extracts containing naturally occurring phytocannabinoids. Veritas Farms owns and operates a 140 acre farm in Pueblo, Colorado, capable of producing over 200,000 proprietary full spectrum hemp plants which can potentially yield a minimum annual harvest of 250,000 to 300,000 pounds of outdoor-grown industrial hemp. Veritas Farms reported a net loss of $7.07 million for the year ended Dec. 31, 2021, compared to a net loss of $7.59 million for the year ended Dec. 31, 2020. As of March 31, 2022, the Company had $8.38 million in total assets, $4.91 million in total liabilities, and $3.47 million in total shareholders' equity. Hackensack, New Jersey-based Prager Metis CPA's LLC, the Company's auditor since 2018, issued a "going concern" qualification in its report dated April 12, 2022, citing that the Company has sustained substantial losses from operations since its inception. As of and for the year ended Dec. 31, 2021, the Company had an accumulated deficit of $33,930,714, and a net loss of $7,263,567. These factors, among others, raise substantial doubt about the ability of the Company to continue as a going concern. Continuation as a going concern is dependent on the ability to raise additional capital and financing, though there is no assurance of success. VIVOS REAL ESTATE: Case Summary & Eight Unsecured Creditors ----------------------------------------------------------- Debtor: Vivos Real Estate Holdings, LLC 22 Baltimore Rd. Rockville, MD 20850 Business Description: The Debtor is a Single Asset Real Estate (as defined in 11 U.S.C. Section 101(51B)). Chapter 11 Petition Date: August 2, 2022 Court: United States Bankruptcy Court District of Maryland Case No.: 22-14207 Judge: Hon. Maria Ellena Chavez-Ruark Debtor's Counsel: John D. Burns, Esq. THE BURNS LAW FIRM, LLC 6303 Ivy Lane, Ste 102 Greenbelt, MD 20770 Tel: 301-441-8780 Email: jburns@burnsbankruptcyfirm.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Naveen Doki as manager/president. A copy of the Debtor's list of eight unsecured creditors is available for free at: https://www.pacermonitor.com/view/XFILZHY/Vivos_Real_Estate_Holdings_LLC__mdbke-22-14207__0001.2.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/W75RB5A/Vivos_Real_Estate_Holdings_LLC__mdbke-22-14207__0001.0.pdf?mcid=tGE4TAMADebtor: Vivos Real Estate Holdings, LLC 22 Baltimore Rd. Rockville, MD 20850 Case No.: 22-14207 Business Description: The Debtor is a Single Asset Real Estate (as defined in 11 U.S.C. Section 101(51B)). Chapter 11 Petition Date: August 2, 2022 Court: United States Bankruptcy Court District of Maryland Judge: Hon. Maria Ellena Chavez-Ruark Debtor's Counsel: John D. Burns, Esq. THE BURNS LAW FIRM, LLC 6303 Ivy Lane, Ste 102 Greenbelt, MD 20770 Tel: 301-441-8780 Email: jburns@burnsbankruptcyfirm.com Estimated Assets: $0 to $50,000 Estimated Liabilities: $1 million to $10 million The petition was signed by Naveen Doki as manager/president. A copy of the Debtor's list of eight unsecured creditors is available for free at: https://www.pacermonitor.com/view/XFILZHY/Vivos_Real_Estate_Holdings_LLC__mdbke-22-14207__0001.2.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/W75RB5A/Vivos_Real_Estate_Holdings_LLC__mdbke-22-14207__0001.0.pdf?mcid=tGE4TAMA WEINBERG CAPITAL: Files for Chapter 11 Bankruptcy ------------------------------------------------- Weinberg Capital Investments LLC has sought bankruptcy protection in California. The Debtor disclosed $1.115 million in assets against $1.870 million in liabilities in its schedules. The Debtor says the property at 641 Viewmont Drive, Los Angeles, CA 90069 is valued at $1.05 million and the property at 3825 Windermere Ln Oroville, CA 95965 is worth $65,000. According to court filings, Weinberg Capital estimates between 1 and 49 creditors. The petition states funds will be available to unsecured creditors. A meeting of creditors under 11 U.S.C. Section 341(a) is slated for Aug. 29, 2022, at 11:00 AM at UST-LA2, TELEPHONIC MEETING. CONFERENCE LINE:1-866-816-0394, PARTICIPANT CODE:5282999. About Weinberg Capital Investments Weinberg Capital Investments LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 22-14101) on July 29, 2022. In the petition filed by Ahmad Anthony Nowald, as manager, the Debtor estimated assets and liabilities between $1 million and $10 million. Matthew Abbasi, of Abbasi Law Corporation, is the Debtor's counsel. ZENTUARY GROUP: Seeks to Hire McIntyre as Bankruptcy Counsel ------------------------------------------------------------ Zentuary Group, LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Florida to employ McIntyre Thanasides Bringgold Elliott Grimaldi Guito & Matthews, P.A. as its legal counsel. The firm will perform these services: a. advise the Debtor regarding its powers and duties in the continued operation of its business and management of its property; b. prepare legal papers; c. appear before the bankruptcy court and the U.S. trustee; d. take all necessary legal steps to confirm a plan of reorganization; e. represent the Debtor in all adversary suits, contested matters and matters involving administration of its bankruptcy case; f. represent the Debtor in any negotiations with potential financing sources and prepare contracts, security instruments, or other documents necessary to obtain financing; g. take necessary actions to recover voidable transfers and to avoid liens against the Debtor's property obtained within 90 days of the filing of the Chapter 11 petition and at a time when the Debtor was insolvent; h. enjoin or stay suits against the Debtor affecting its ability to continue in business or property in which the Debtor has equity; and i. perform all other necessary legal services. McIntyre will be paid based upon its normal and usual hourly billing rates and will be reimbursed for out-of-pocket expenses incurred. The firm received a retainer in the amount of $13,738. James Elliot, Esq., a partner at McIntyre, disclosed in a court filing that he is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code. McIntyre Thanasides can be reached at: James W. Elliot, Esq. McIntyre Thanasides Bringgold Elliott Grimaldi Guito & Matthews, P.A. 500 E. Kennedy Blvd., Suite 200 Tampa, FL 33602 Tel: (813) 223-0000 Fax: (813) 899-6069 Email: James@mcintyrefirm.com About Zentuary Group Zentuary Group LLC, doing business as Farmacy Vegan Kitchen, is a quick service restaurant offering a well-rounded, 100% plant-based menu. Zentuary Group sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 22-02594) on June 28, 2022, listing up to $50,000 in assets and up to $1 million in liabilities. Charles Rumph, president of Zentuary Group, signed the petition. Judge Caryl E. Delano oversees the case. James W Elliott, Esq., at McIntyre Thanasides Bringgold Elliott Grimaldi Guito & Matthews, P.A. is the Debtor's counsel. ZHR BROS: Hits Chapter 11 Bankruptcy Protection ----------------------------------------------- ZHR Bros LLC filed for chapter 11 protection in the Southern District of Florida. According to court filing, ZHR Bros LLC estimates between 1 and 49 unsecured creditors. The petition states funds will be available to Unsecured Creditors. A meeting of creditors under 11 U.S.C. Section 341(a) is slated for Aug. 31, 2022, at 1:00 PM by TELEPHONE. Proofs of claim are due by Oct. 7, 2022. About ZHR Bros LLC ZHR Bros LLC is a Single Asset Real Estate (as defined in 11 U.S.C. Sec. 101(51B)). ZHR Bros LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 22-15912) on July 29, 2022. In the petition filed by Zachary Gindi, as president, the Debtor estimated assets and liabilities between $1 million and $10 million. Zachary Malnik, of The Salkin Law Firm P.A., is the Debtor's counsel. [^] Recent Small-Dollar & Individual Chapter 11 Filings ------------------------------------------------------- In re Gene N. Gordon Bankr. N.D. Ala. Case No. 22-40741 Chapter 11 Petition filed July 26, 2022 represented by: Jonathan Carpenter, Esq. In re Pompano Senior Squadron Flying Club, Inc. Bankr. S.D. Fla. Case No. 22-15714 Chapter 11 Petition filed July 26, 2022 See https://www.pacermonitor.com/view/WTDZSLY/Pompano_Senior_Squadron_Flying__flsbke-22-15714__0001.0.pdf?mcid=tGE4TAMA represented by: Craig A. Pugatch, Esq. LORIUM LAW E-mail: capugatch@loriumlaw.com In re Daren C. Daly Bankr. S.D. Fla. Case No. 22-15694 Chapter 11 Petition filed July 26, 2022 represented by: Isaac M. Marcushamer, Esq. DGIM LAW PLLC E-mail: isaac@dgimlaw.com In re Bernard Charles Seidling Bankr. W.D. Wisc. Case No. 22-11191 Chapter 11 Petition filed July 26, 2022 represented by: Tara Eau Claire, Esq. In re Trinity Valley Estates Bankr. E.D. Cal. Case No. 22-21841 Chapter 11 Petition filed July 27, 2022 See https://www.pacermonitor.com/view/3TSU7OQ/Trinity_Valley_Estates__caebke-22-21841__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Pizza Star Inc. Bankr. D.N.J. Case No. 22-15925 Chapter 11 Petition filed July 27, 2022 See https://www.pacermonitor.com/view/M7KHVBY/Nino_Pizza_Star_Corporation__njbke-22-15925__0001.0.pdf?mcid=tGE4TAMA represented by: Bruce I. Afran, Esq. E-mail: bruceafran@aol.com In re The Howard Day House LLC Bankr. E.D.N.Y. Case No. 22-41781 Chapter 11 Petition filed July 27, 2022 See https://www.pacermonitor.com/view/X5Y4UCI/The_Howard_Day_House_LLC__nyebke-22-41781__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Lawrence A. First Bankr. S.D.N.Y. Case No. 22-11020 Chapter 11 Petition filed July 27, 2022 represented by: Erica Aisner, Esq. In re SBH Enterprises, LLC Bankr. M.D. Tenn. Case No. 22-02347 Chapter 11 Petition filed July 27, 2022 See https://www.pacermonitor.com/view/H6JMENI/SBH_Enterprises_LLC__tnmbke-22-02347__0001.0.pdf?mcid=tGE4TAMA represented by: Steven L. Lefkovitz, Esq. LEFKOVITZ & LEFKOVITZ E-mail: slefkovitz@lefkovitz.com In re Stuff 4 Stores, Inc. Bankr. W.D. Tenn. Case No. 22-23054 Chapter 11 Petition filed July 27, 2022 See https://www.pacermonitor.com/view/KEFOPMQ/Stuff_4_Stores_Inc__tnwbke-22-23054__0001.0.pdf?mcid=tGE4TAMA represented by: Toni Campbell Parker, Esq. LAW FIRM OF TONI CAMPBELL PARKER E-mail: tparker002@att.net In re David Eugene Foyil Bankr. E.D. Cal. Case No. 22-21864 Chapter 11 Petition filed July 28, 2022 In re Asther Milagros Herrera and Wascar Herrera Bankr. M.D. Fla. Case No. 22-03042 Chapter 11 Petition filed July 28, 2022 In re Gomez Repair Corp Bankr. S.D. Fla. Case No. 22-15788 Chapter 11 Petition filed July 28, 2022 See https://www.pacermonitor.com/view/ISNKIVA/Gomez_Repair_Corp__flsbke-22-15788__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Hayat Bakht Corp Bankr. E.D.N.Y. Case No. 22-41796 Chapter 11 Petition filed July 28, 2022 See https://www.pacermonitor.com/view/EDQFGEQ/Hayat_Bakht_Corp__nyebke-22-41796__0001.0.pdf?mcid=tGE4TAMA represented by: Narissa A. Joseph, Esq. LAW OFFICE OF NARISSA A. JOSEPH E-mail: njosephlaw@aol.com In re The Ostreicher Family Irrevocable Trust Bankr. S.D.N.Y. Case No. 22-22495 Chapter 11 Petition filed July 28, 2022 See https://www.pacermonitor.com/view/VSXBPFA/The_Ostreicher_Family_Irrevocable__nysbke-22-22495__0001.0.pdf?mcid=tGE4TAMA represented by: Robert Lewis, Esq. LAW OFFICE OF ROBERT S. LEWIS, PC E-mail: robert.lewlaw1@gmail.com In re Billy L. Johnson Bankr. M.D. Ala. Case No. 22-80694 Chapter 11 Petition filed July 29, 2022 In re D Findley Construction, LLC Bankr. E.D. Ark. Case No. 22-12060 Chapter 11 Petition filed July 29, 2022 See https://www.pacermonitor.com/view/MO44NNA/D_Findley_Construction_LLC__arebke-22-12060__0001.0.pdf?mcid=tGE4TAMA represented by: Brandon Haubert, Esq. WH LAW E-mail: bk@wh.law In re Douglas Kent Pierce Bankr. S.D. Fla. Case No. 22-15921 Chapter 11 Petition filed July 29, 2022 represented by: Jon Martin, Esq. In re Bass Street Moline, LLC Bankr. C.D. Ill. Case No. 22-80459 Chapter 11 Petition filed July 29, 2022 See https://www.pacermonitor.com/view/MWJMHGA/Bass_Street_Moline_LLC__ilcbke-22-80459__0001.0.pdf?mcid=tGE4TAMA represented by: Dale G. Haake, Esq. Katz Nowinski P.C. E-mail: dhaake@katzlawfirm.com In re Ok S Yoo Bankr. E.D.N.Y. Case No. 22-71938 Chapter 11 Petition filed July 29, 2022 represented by: Dong Sung Kim, Esq. LAW FIRM OF KIM CHOI & KIM, P.C. Email: kimchoikim@gmail.com In re Thorco Inc. Bankr. D. Mont. Case No. 22-90119 Chapter 11 Petition filed July 29, 2022 See https://www.pacermonitor.com/view/XL6I7KY/THORCO_INC__mtbke-22-90119__0001.0.pdf?mcid=tGE4TAMA represented by: Matt Shimanek, Esq. SHIMANEK LAW PLLC E-mail: matt@shimaneklaw.com In re Capitol Presort Services, LLC Bankr. M.D. Pa. Case No. 22-01406 Chapter 11 Petition filed July 29, 2022 See https://www.pacermonitor.com/view/TYHVG2Y/Capitol_Presort_Services_LLC__pambke-22-01406__0001.0.pdf?mcid=tGE4TAMA represented by: Robert E. Chernicoff, Esq. CUNNINGHAM, CHERNICOFF & WARSHAWSKY PC In re ARG Media LLC Bankr. W.D. Pa. Case No. 22-21478 Chapter 11 Petition filed July 29, 2022 See https://www.pacermonitor.com/view/FXI4F7Y/ARG_Media_LLC__pawbke-22-21478__0001.0.pdf?mcid=tGE4TAMA represented by: Lawrence W. Willis, Esq. WILLIS & ASSOCIATES E-mail: lawrencew@urfreshstrt.com In re 11054 2nd Avenue NW LLC Bankr. W.D. Wash. Case No. 22-11230 Chapter 11 Petition filed July 29, 2022 See https://www.pacermonitor.com/view/BRWTA2A/11054_2nd_Avenue_NW_LLC__wawbke-22-11230__0001.0.pdf?mcid=tGE4TAMA Filed Pro Se In re Vision Of Hope Community Church, Inc. Bankr. N.D. Ga. Case No. 22-55833 Chapter 11 Petition filed July 31, 2022 See https://www.pacermonitor.com/view/5GL5UIY/Vision_Of_Hope_Community_Church__ganbke-22-55833__0001.0.pdf?mcid=tGE4TAMA represented by: Michael Jones, Esq. M JONES & ASSOCIATES, PC E-mail: mike@mjonesoc.com In re Duane D.H. Pitt Bankr. D. Ariz. Case No. 22-05046 Chapter 11 Petition filed August 1, 2022 represented by: Randy Nussbaum, Esq. SACKS TIERNEY P.A. In re Khoffner USA, Inc. Bankr. S.D. Fla. Case No. 22-15966 Chapter 11 Petition filed August 1, 2022 See https://www.pacermonitor.com/view/WEH466Y/KHOFFNER_USA_INC__flsbke-22-15966__0001.0.pdf?mcid=tGE4TAMA represented by: Thomas L. Abrams, Esq. GAMBERG & ABRAMS E-mail: tabrams@tabramslaw.com In re NID Home Solutions, LLC Bankr. N.D. Ga. Case No. 22-55915 Chapter 11 Petition filed August 1, 2022 See https://www.pacermonitor.com/view/RGERCXA/NID_Home_Solutions_LLC__ganbke-22-55915__0001.0.pdf?mcid=tGE4TAMA represented by: Will Geer, Esq. ROUNTREE, LEITMAN, KLEIN & GEER, LLC E-mail: wgeer@rlkglaw.com In re Trevor Lansing Combs Bankr. D. Md. Case No. 22-14188 Chapter 11 Petition filed August 1, 2022 represented by: Steven Greenfeld, Esq. In re Baoburg Inc. Bankr. E.D.N.Y. Case No. 22-41860 Chapter 11 Petition filed August 1, 2022 See https://www.pacermonitor.com/view/VRTGN6A/Baoburg_Inc__nyebke-22-41860__0001.0.pdf?mcid=tGE4TAMA represented by: Norma E. Ortiz, Esq. ORTIZ & ORTIZ, LLP E-mail: email@ortizandortiz.com In re Mordechay Movtady Bankr. E.D.N.Y. Case No. 22-71962 Chapter 11 Petition filed August 1, 2022 represented by: Ronald Weiss, Esq. In re Gerasimos Stefanitis Bankr. S.D.N.Y. Case No. 22-22507 Chapter 11 Petition filed August 1, 2022 represented by: Lawrence Morrison, Esq. In re Parkside LES NYC Inc. Bankr. S.D.N.Y. Case No. 22-11052 Chapter 11 Petition filed August 1, 2022 See https://www.pacermonitor.com/view/D2BCTVA/Parkside_LES_NYC_Inc__nysbke-22-11052__0001.0.pdf?mcid=tGE4TAMA represented by: Norma E. Ortiz, Esq. ORTIZ & ORTIZ, LLP E-mail: email@ortizandortiz.com In re Love Renovations & Design, LLC Bankr. E.D. Pa. Case No. 22-12011 Chapter 11 Petition filed August 1, 2022 See https://www.pacermonitor.com/view/PH63SNI/Love_Renovations__Design_LLC__paebke-22-12011__0001.0.pdf?mcid=tGE4TAMA represented by: Jeffrey S. Cianciulli, Esq. WEIR GREENBLATT PIERCE LLP E-mail: jcianciulli@weirpartners.com ********* Monday's edition of the TCR delivers a list of indicative prices for bond issues that reportedly trade well below par. Prices are obtained by TCR editors from a variety of outside sources during the prior week we think are reliable. Those sources may not, however, be complete or accurate. The Monday Bond Pricing table is compiled on the Friday prior to publication. 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