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         T R O U B L E D   C O M P A N Y   R E P O R T E R

              Friday, August 19, 2022, Vol. 26, No. 230

                            Headlines

10-10 TRAINING: Unsecureds Will Get 10% of Claims over 36 Months
10421 NORTHVALE: Involuntary Chapter 11 Case Summary
ADRIAN WYATT: Case Summary & 20 Largest Unsecured Creditors
AEARO TECHNOLOGIES: Judge Says Veteran's Move vs. 3M Premature
ALLIANCE MECHANICAL: Unsecureds to Get Share of Income in 60 Months

AMERICAN EAGLE: Court Approves Backup Bid Deal
APEX CONVEYOR: Court OKs Cash Collateral Access
APPLIED DNA: Incurs $1.1 Million Net Loss in Third Quarter
BEACON SCIENTIFIC: Disposable Income to Fund Play Payments
BLACK NEWS: Gets Court OK to Hire PwC as Tax Service Provider

BOY SCOUTS: Revises Mormon Church Bankruptcy Plan Treatment
BRAZIL MINERALS: Incurs $1 Million Net Loss in Second Quarter
CALIFORNIA RESOURCES: Kimmeridge Builds Stake in Company
CELSIUS NETWORK: Forecasts Negative Cash Outflow Until Oct. 2022
CELSIUS NETWORK: Gets 'Desist And Refrain' Order From DFPI

CEREMONY SALON: Wins Cash Collateral Access Thru Oct 5
CHARLES DEWEESE: Fortline Inc. Appointed as New Committee Member
CHARTER COMMUNICATIONS: Fitch Assigns 'BB+' LongTerm IDR
COAL NETWORK: Case Summary & 19 Unsecured Creditors
COBAL FOOD SERVICES: Files Chapter 7 Bankruptcy Protection

COMPASS GROUP: S&P Affirms 'B+' ICR, Outlook Stable
COOPER-STANDARD HOLDINGS: S&P Cuts ICR to 'CCC', Outlook Negative
COX BROTHERS: Amends OSPrin III Secured Claim Pay Details
CYMA CLEANING: Unsecured Creditors Will Get 94% of Claims in Plan
DARIAN L HAMPTON: Unsecureds Will Get 3% of Claims in 5 Years

DIAMONDHEAD CASINO: Incurs $388K Net Loss in Second Quarter
DOUBLE J PLAYSCAPES: Taps Bankruptcy Law Office as Counsel
DW TRUMP: Voluntary Chapter 11 Case Summary
EASTERN NIAGARA: No Decline in Patient Care, 10th PCO Report Says
EBERHARDT PARTNERSHIP: Wins Cash Collateral Access

EMPACADORA Y PROCESADORA: Has Deal on Cash Collateral Access
ENC PARENT: S&P Alters Outlook to Negative, Affirms 'B-' ICR
ENDO INTERNATIONAL: S&P Downgrades ICR to 'D' on Bankruptcy Filing
ENDO INTERNATIONAL: Seeks Cash Collateral Access
ENJOY TECHNOLOGY: Court Okays $110 Mil. Bankruptcy Sale to Asurion

FG CAPITAL HOLDINGS: Taps Willis & Davidow as Special Counsel
FINMARK STRATEGY: Taps Willis & Davidow as Special Counsel
FREE SPEECH: Wins Interim Cash Collateral Access
FUEL DOCTOR: Incurs $14K Net Loss in Second Quarter
FUSE GROUP: Incurs $130K Net Loss in Third Quarter

GARUDA HOTELS: Court Approves Appointment of Dove as Ch. 11 Trustee
GL INVESTMENTS: Case Summary & Two Unsecured Creditors
GLEAMIN INC: Case Summary & 15 Unsecured Creditors
GUARACHI WINE: Taps Sherwood Partners as Sales Agent
H-CYTE INC: Incurs $2.6 Million Net Loss in Second Quarter

HERO NUTRITIONALS: Case Summary & 20 Largest Unsecured Creditors
HOLLIDAY ROAD: Unsecureds Will Get 15% of Claims in 60 Months
HUMANIGEN INC: Lowers Net Loss to $30.15 Million in Second Quarter
INDEPENDENCE FUEL: Gets Interim Cash Collateral Access
INNOVA INDUSTRIAL: Unsecured Creditors Will Get 5% of Claims

J.C. PENNEY: Taps Stephanie Plaines as New CFO
JAX PROPERTIES: Taps Bankruptcy Law Center as Counsel
JEFFERSON LA BREA: Voluntary Chapter 11 Case Summary
JOHNSON & JOHNSON: Courts Continue Probing Bankruptcy Ploy
KLX ENERGY: Posts $7.5 Million Net Loss for Quarter Ended June 30

KNOW LABS: Reports $3 Million Net Loss in Third Quarter
KW EXCAVATION: Wins Cash Collateral Access
LANGSTON CONSTRUCTION: Seeks Cash Collateral Access
LUMEN TECHNOLOGIES: Fitch Affirms 'BB' IDR, Outlook Stable
MASTEN SPACE SYSTEMS: U.S. Trustee Appoints Creditors' Committee

MERITOR INC: Fitch Withdraws 'BB-' IDR Following Cummins Deal
MGA MANAGEMENT: Seeks Cash Collateral Access
MILLENNIUM SERVICES: Wins Cash Collateral Access Thru Sept 1
MONOGRAM FOOD: S&P Downgrades ICR to 'B-', Outlook Stable
MONSTER INVESTMENTS: Court Directs Appointment of Examiner

MST CONSULTING: Taps Geraldine Montoya CPA as Accountant
NEONODE INC: Posts $1.55 Million Net Loss in Second Quarter
NORTHWEST SENIOR: Texas Landlord Blasts Chapter 11 Plan
OREGON RESEARCH: Gets OK to Hire Scott Law Group as Counsel
OUTDOOR HOME: S&P Alters Outlook to Negative, Affirms 'B' ICR

PEABODY ENERGY: S&P Upgrades ICR to 'B-', Outlook Stable
PECOS INN LLC: Seeks to Hire Eric A. Liepins P.C. as Counsel
PLAYTIKA HOLDING: S&P Upgrades ICR to 'BB', Outlook Stable
PROVENIR LLC: Unsecureds Will Get 5% of Claims in 60 Months
PUERTO RICO: PREPA Takes More Time to Reach Debt Deal

REVLON INC: Company Sued by Citigroup Over $900M Mistake
RJ CONSTRUCTION: Declares Bankruptcy Amid Battle With Arlington ISD
SAVANNAH CAPITAL: Taps Corcoran Austin Hill Realty as Realtor
SC SJ HOLDINGS: Says Pillsbury's Ch. 11 Malpractice Release Invalid
SP STAR ENTERPRISE: Case Summary & Five Unsecured Creditors

STANFORD CHOPPING: Voluntary Chapter 11 Case Summary
SUNNY MILLS: Gets OK to Hire Maloy Law Group as Legal Counsel
THOMPSON ROSE: Taps Law Offices of Gabriel Liberman as Counsel
TOP LINE GRANITE: Court OKs Cash Collateral Access Thru Sept 2
TOTAL FIRE PROTECTION: Files Subchapter V Case

TPC GROUP: Gets Court OK to Hire FTI as Financial Advisor
TPC GROUP: Gets OK to Hire PwC as Tax Services Provider
TPC GROUP: Taps Moelis & Company as Investment Banker
TRAEGER INC: S&P Downgrades ICR to 'CCC+', Outlook Negative
TRINET GROUP: S&P Upgrades ICR to 'BB+', Outlook Stable

TRUSENTIAL LLC: Files Emergency Bid to Use Cash Collateral
TURNING POINT: S&P Alters Outlook to Negative, Affirms 'B+' ICR
TVS CONSTRUCTION: Wins Cash Collateral Access Thru Dec 8
US STEEL: Fitch Gives BB Rating on 2022 Environmental Bonds
VOYAGER DIGITAL: Investors Sue Mark Cuban on Ponzi Scheme Promotion

WILTON RE: Fitch Lowers Rating on Subordinated Debt to BB+
WINDSOR FALLS: Seeks to Hire Wilcox Law Firm as Bankruptcy Counsel
WORLD CLASS: Paul Nate Buys Back Prime Real Estate After Sale
[] BOOK REVIEW: Hospitals, Health and People

                            *********

10-10 TRAINING: Unsecureds Will Get 10% of Claims over 36 Months
----------------------------------------------------------------
10-10 Training of Cedar Park LLC filed with the U.S. Bankruptcy
Court for the Western District of Texas a Plan of Reorganization
under Subchapter V dated August 15, 2022.

The Debtor is located in Cedar Park, Texas and is a full-service
fitness center and personal training facility. The Debtor's revenue
has declined during the COVID-19 pandemic, which led to the
Debtor's inability to fully service its debt and ultimately the
filing of this case.

The Debtor scheduled total Unsecured Claims of $971,123.04, of
which $638,857.59 are Insider Claims, leaving total non-Insider
Unsecured Claims of $332,265.45.

Under this Plan, Secured Creditors will receive payment of 100% of
their Allowed Secured Claims and Unsecured Creditors will receive
10% of their Allowed Unsecured Claims.

Class 1 consists of the Allowed Secured Claims of Williamson
County. This Claim shall be paid in full in monthly installments of
principal with interest thereon at the rate of 12% per annum.
Payments will commence on the first day of the first month
following the Effective Date and continue until paid in full upon
the expiration of 60 months from the Petition Date. Interest shall
begin to accrue on the Petition Date.

Class 2 consists of the Allowed Secured Claims of Delta Bridge
Funding. This Claim will be paid in full in 60 equal monthly
installments of principal and interest at the rate of 5% per annum.
Payments will commence on the first day of the first month
following the Effective Date and continue on the first day of each
month thereafter until paid in full. Interest shall begin to accrue
on the Effective Date.

Class 3 consists of the Allowed Secured Claim of Rapid Finance.
This Claim will be paid in full in 60 equal monthly installments of
principal and interest at the rate of 5% per annum. Payments will
commence on the first day of the first month following the
Effective Date and continue on the first day of each month
thereafter until paid in full. Interest shall begin to accrue on
the Effective Date.

Class 4 consists of the Allowed Secured Claims of Fora Financial.
This Claim will be paid in full in 60 equal monthly installments of
principal and interest at the rate of 5% per annum. Payments will
commence on the first day of the first month following the
Effective Date and continue on the first day of each month
thereafter until paid in full. Interest shall begin to accrue on
the Effective Date.

Class 5 consists of the Allowed Unsecured Claims other than Class 6
Claims. Class 5 Claimants shall be paid 10% of their Claims over 36
months from the Effective Date, without interest. These Claims will
be paid in equal monthly installments commencing on the first day
of the first month following the Effective Date and continuing on
the first day of each month thereafter. These Claims are Impaired,
and the holders of these Claims are entitled to vote to accept or
reject the Plan.

Class 6 consists of Allowed Insider Claims. Class 6 Claims will
receive nothing under the Plan and are deemed to have rejected the
Plan.

Class 7 Equity Interests shall be retained.

The Debtor intends to make all payments required under the Plan
from available cash and income from the business operations of the
Debtor.

A full-text copy of the Plan of Reorganization dated August 15,
2022, is available at https://bit.ly/3dCFKUE from PacerMonitor.com
at no charge.

Attorneys for Debtor:

     Joyce W. Lindauer
     State Bar No. 21555700
     Joyce W. Lindauer Attorney, PLLC
     1412 Main St. Suite 500
     Dallas, Texas 75202
     Telephone: (972) 503-4033
     Facsimile: (972) 503-4034

            About 10-10 Training of Cedar Park LLC

10-10 Training of Cedar Park LLC -- http://www.d1training.com/ --
is a non-traditional fitness training facility that has trained
over 100 NFL Draft Picks and was named a Top 30 Gym by Men’s
Health.

10-10 Training of Cedar Park LLC filed for relief under Subchapter
V of Chapter 11 of the Bankruptcy Code (Bankr. W.D. Tex. Case No.
22-10312) on May 16, 2022.  In the petition filed by Kenneth
Fidje, as manager, the Debtor reports assets up to $50,000 and
liabilities between $50,000 and $100,000.

The case is assigned to Honorable Bankruptcy Judge Tony M. Davis.

Joyce W. Lindauer, of Joyce W. Lindauer Attorney, PLLC, is the
Debtor's counsel.

Michael G. Colvard is the Subchapter V trustee.


10421 NORTHVALE: Involuntary Chapter 11 Case Summary
----------------------------------------------------
Alleged Debtor:       10421 Northvale LLC
                      12991 NW 1st Street #106
                      Pembroke Pines, FL 33028-3207

Business Description: The Debtor is a Single Asset Real Estate
                      (as defined in 11 U.S.C. Section 101
                      (51B)).

Involuntary Chapter
11 Petition Date:     August 18, 2022

Court:                United States Bankruptcy Court
                      Central District of California

Case No.:             22-14503

Petitioners' Counsel: Not Specified

A full-text copy of the Involuntary Petition is available for free
at PacerMonitor.com at:

https://www.pacermonitor.com/view/QKKSYAA/10421_Northvale_LLC__cacbke-22-14503__0001.0.pdf?mcid=tGE4TAMA

Alleged creditors who signed the petition:

  Petitioner                    Nature of Claim      Claim Amount
  ----------                    ---------------      ------------
  Guillermo Montero             Supplies & Labor          $10,000
  631 N. Hillcrest Road
  Beverly Hills, CA 90210

  Peck/Jones Constrution, Inc.  Supplies, Labor        $1,000,000
  P.O. Box 17281                   Equipment
  Beverly Hills, CA 90210

  Ammec, Inc.                   Supplies, Labor           $10,000
  1516 S. Victoria Avenue           Equipment
  Los Angeles, CA 90019


ADRIAN WYATT: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Adrian Wyatt Adams Drug, Inc.
          FDBA Corner Drug Stores of Zebulon
          FDBA Wendell Drug Co., Inc. (EIN 02-0558400)
          FDBA Zebulon Drug
          FDBA Wendell Drug
          FDBA Corner Drug Stores of Wendell
          FDBA Corner Drug Stores, Inc. (EIN 20-3437439)
          FDBA Corner Drug Stores of Bunn
          FDBA Bunn Drug
       303 N Arendell Avenue
       Zebulon, NC 27597

Case No.: 22-01834

Business Description: Adrian Wyatt offers medical supplies and
                      equipment.

Chapter 11 Petition Date: August 18, 2022

Court: United States Bankruptcy Court
       Eastern District of North Carolina

Judge: Hon. David M. Warren

Debtor's Counsel: George Mason Oliver, Esq.
                  THE LAW OFFICES OF OLIVER & CHEEK, PLLC
                  PO Box 1548
                  New Bern, NC 28563
                  Tel: 252-633-1930
                  Fax: 252-633-1950
                  Email: george@olivercheek.com

Total Assets: $392,125

Total Liabilities: $1,919,109

The petition was signed by Adrian Wyatt Adams as president.

A full-text copy of the petition containing, among other items, a
list of the Debtor's 20 largest unsecured creditors is available
for free at PacerMonitor.com at:

https://www.pacermonitor.com/view/QJWBWLQ/Adrian_Wyatt_Adams_Drug_Inc__ncebke-22-01834__0001.0.pdf?mcid=tGE4TAMA


AEARO TECHNOLOGIES: Judge Says Veteran's Move vs. 3M Premature
--------------------------------------------------------------
Brendan Pierson of Bloomberg Law reports that a veteran who said he
suffered hearing loss from military-issue earplugs has lost a bid
to prevent 3M from arguing it isn't liable for claims against a
bankrupt subsidiary that made the devices.

U.S. District Judge M. Casey Rodgers in Pensacola, Florida, on
Sunday, August 14, 2022, denied plaintiff Guy Cupit's request as
premature. She, nonetheless, harshly criticized what she called the
"naked duplicity" of 3M's strategy to resolve the cases currently
filed against it through the bankruptcy of Aearo Technologies, the
original maker of the earplugs at the center of a record-breaking
mass tort litigation, which it acquired in 2008.

Rodgers, who is overseeing about 230,000 lawsuits claiming the
Combat Arms Earplugs Version 2 (CAEv2) caused hearing loss, said
she was "deeply concerned over 3M Company's sudden, bankruptcy-eve
about-face regarding the entity responsible for the CAEv2 claims in
this litigation."

A hearing in U.S. bankruptcy court in Indianapolis to consider
whether to issue an order stopping the veterans' litigation against
3M, which is not bankrupt, kicked off on Monday, August 15, 2022.

Rodgers has not ruled on a still-pending motion by another veteran,
Richard Valle, seeking a broad order barring 3M from taking any
steps to halt the Florida litigation.

Adam Wolfson of Quinn Emanuel Urquhart & Sullivan, a lawyer for
Cupit, said Rodgers' decision "was incisive, fair, followed the law
to the letter, and showed a complete mastery of the complex
litigation before her."

Ashley Keller of Keller Postman, a lawyer for Valle, said his
client "remains hopeful that his meritorious motion will be
granted."

3M said in a statement that its plan was to resolve the claims in a
way that is "more efficient and equitable than the current
litigation."

              $265 MILLION TO PLAINTIFFS SO FAR

Out of 16 trials to date in the massive multidistrict litigation,
involving 19 service members, plaintiffs have won in 10, with about
$265 million in combined awards to 13 plaintiffs.

Aearo filed for bankruptcy on July 26, 2022 and said it had
committed $1 billion to resolve the earplug litigation. Days before
the filing, it entered into an agreement to indemnify 3M for all
liability related to CAEv2.

3M, which has denied liability, has argued that the earplug cases
should now be resolved in bankruptcy court. It has called the MDL
"broken beyond repair," blaming Rodgers' decision to allow
"unvetted" claims on an administrative docket without filing fees,
and rulings excluding its scientific evidence from trials that
could have helped the company.

The motions by Cupit and Valle are intended to keep the products
liability cases out of bankruptcy court. Cupit asked Rodgers to
rule that 3M cannot argue that it is not liable for claims over its
subsidiary's earplugs after failing to raise that defense over the
last three years of litigation.

Rodgers said Sunday she could not grant Cupit's motion because 3M
still has not raised that defense. But she said he was free to file
it again if it ever does.

The MDL is In re 3M Combat Arms Earplug Products Liability
Litigation, U.S. District Court, Northern District of Florida, No.
19-md-2885.

For the plaintiffs: Adam Wolfson of Quinn Emanuel Urquhart &
Sullivan; Ashley Keller of Keller Postman; Bryan Aylstock, Daniel
Thornburgh and Jennifer Hoekstra of Aylstock, Witkin, Kreis &
Overholtz; Shelley Hutson of Clark, Love & Hutson; Chris Seeger of
Seeger Weiss; and Joseph Messa of Messa & Associates

For 3M: Kimberly Branscome of Dechert; and Jessica Lauria of White
& Case

                 About Aearo Technologies

Aearo Technologies -- https://earglobal.com/en -- is a 3M company
that designs, manufactures, and sells personal protection
equipment. The Company offers prescription and non-prescription
safety eye wear, face shields, hard hats, and respirators. Aearo
serves customers worldwide.

To address claims related to the Combat Arms Earplugs Version 2,
Aearo Technologies LLC and its affiliates sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ind. Lead Case
No. 22-02890) on July 26, 2022.  In the petition filed by John R.
Castellano, as authorized signatory, Aearo Technologies estimated
assets and liabilities between $1 billion and $10 billion each.

3M is not a debtor in the Chapter 11 cases.  3M has committed $1
billion to fund a trust allocated for Combat Arms claims.

Kirkland & Ellis LLP is serving as legal counsel and AlixPartners
LLP is serving as restructuring advisor to Aearo Technologies.  Ice
Miller LLP, is serving as bankruptcy co-counsel to the Debtors.
Kroll is the claims agent.

PJT Partners is serving as financial advisor and White & Case LLP
is serving as legal counsel to 3M.



ALLIANCE MECHANICAL: Unsecureds to Get Share of Income in 60 Months
-------------------------------------------------------------------
Alliance Mechanical, LLC, filed with the U.S. Bankruptcy Court for
the Western District of Oklahoma a Plan of Reorganization dated
August 15, 2022.

Alliance Mechanical, LLC, is a plumbing and site utilities
contractor. Alliance Mechanical, LLC, was created in March 2013 by
Keiffer Trout. Mr. Trout is the sole member of Alliance Mechanical,
LLC. Mr. Trout started his apprenticeship in 1994.

Debtor's financial projections show that the Debtor will have
projected disposable income for the period described in Section
1191(c)(2) of the Bankruptcy Code to make all required plan
payments. The final Plan payment is expected to be paid 60 months
from the date of the entry of the order confirming this plan.

This Plan of Reorganization proposes to pay Debtor's creditors from
the revenue generated by Debtor.

Administrative expenses allowed under 11 U.S.C. Section 503 of the
Bankruptcy Code will be paid in full. During months one (1) through
4 after the Plan becomes effective, Debtor will pay all of its
allowed administrative claims.

Each holder of an allowed priority tax claim will be paid in
monthly installments over 60 months beginning 30 days after the
Effective Date of the plan. Beginning in month 5, Debtor will pay
pro-rata its priority claims with interest over the remaining 55
months of the Plan.

Debtor will pay all of its projected disposable income over 60
months to the general unsecured pool of creditors. As Debtor pays
off secured and priority creditors, the projected disposable income
will increase for the remainder of the 60 months. Once all secured
and priority debts are paid off, funds allocated to those creditors
will be re-allocated to the general unsecured pool of creditors.
Once all secured and priority debts are paid off, Debtor will make
monthly disbursements equal to its disposable income to the general
unsecured pool of creditors.

Keith A. Trout, a/k/a Keiffer Trout is the sole member and Equity
Security Holder of Debtor. Debtor will continue to pay Keiffer
Trout $834.50 per week. Mr. Trout will retain 100% of his equity
interest in the newly reorganized Debtor.

All secured creditors shall retain the liens securing their claims,
whether the property subject to such liens is retained by Debtor or
transferred to another entity, to the extent of the allowed amount
of such claim, pursuant to 11 U.S.C. § 1129(b)(2)(A).

Debtor will fund the Plan from its operations.

A full-text copy of the Plan of Reorganization dated August 15,
2022, is available at https://bit.ly/3w8ReWk from PacerMonitor.com
at no charge.  

Attorney for Debtor:

     Gary D. Hammond, Esq.
     HAMMOND LAW FIRM
     512 N.W. 12th Street
     Oklahoma City, OK 73103
     Telephone: 405.216.0007
     Facsimile: 405.232.6358
     Email: gary@okatty.com

     Amanda R. Blackwood, Esq.
     Blackwood Law Firm, PLLC
     P.O. Box 6921
     Moore, OK 73153
     Telephone: 405-232-6357
     Facsimile: 405-378-4466
     Email: amanda@blackwoodlawfirm.com

                    About Alliance Mechanical

Alliance Mechanical, LLC filed a petition under Chapter 11,
Subchapter V of the Bankruptcy Code (Bankr. W.D. Okla. Case No.
22-11002) on May 16, 2022, disclosing up to $100,000 in assets and
up to $500,000 in liabilities. Stephen J. Moriarty of Fellers,
Snider, Blankenship, Bailey & Tippens serves as Subchapter V
trustee.

Judge Sarah A. Hall oversees the case.

Gary D. Hammond, Esq., at Mitchell & Hammond is the Debtor's
counsel.


AMERICAN EAGLE: Court Approves Backup Bid Deal
----------------------------------------------
Rick Archer of Law360 reports that a Delaware bankruptcy judge has
allowed nursing home chain American Eagle Delaware Holding Co. to
strike a deal with the second-place bidder for two of its Florida
facilities in order to close the sale and move toward the end of
its Chapter 11 case.

U.S. Bankruptcy Court Judge J. Kate Stickles entered an order
Friday, August 12, 2022, approving the deal after American Eagle
submitted arguments that accepting a $4 million offer for the
assets was the best move the company could make after a $7.1
million sale agreement fell apart.

                     About American Eagle

Established in 2018, Eagle Senior Living --
https://www.eagleseniorliving.org/ -- is a non-profit provider of
senior living services across the United States, providing care on
a daily basis to approximately 1,000 residents. Eagle Senior Living
and related entities operate 15 residential senior care facilities
located across the country, from Colorado, Minnesota, Wisconsin,
and Ohio to Alabama, Tennessee, and Florida.

On Jan. 14, 2022, American Eagle Delaware Holding Company LLC and
16 affiliated companies each filed a petition seeking relief under
Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Lead Case No.
22-10028) to seek confirmation of their prepackaged plan. The
Debtors' cases have been assigned to Judge J. Kate Stickles.

Parent company American Eagle Lifecare Corporation and management
company Greenbrier Senior Living are not included in the Chapter 11
filing.  Greenbrier Senior Living continues to manage all of the
communities.

American Eagle Delaware Holding estimated assets and debt of $10
million to $50 million as of the bankruptcy filing.

The Debtors are represented in the Chapter 11 cases by Polsinelli
PC as legal counsel. FTI Consulting Inc. and Blueprint Healthcare
Real Estate Advisors, LLC serve as financial advisor and real
estate advisor, respectively.  Epiq Corporate Restructuring, LLC,
is the claims agent and administrative advisor.


APEX CONVEYOR: Court OKs Cash Collateral Access
-----------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
authorized Apex Conveyor Systems, Inc. to use cash collateral on an
interim basis to pay its business expenses pursuant to the budget.

The Debtor is also authorized to use cash collateral to pay monthly
adequate protection, interest only payments, to secured creditor
David Hill and Barbara Hill (both as individuals and as Trustees of
the Hill Family Trust), in the amount of $3,733, and pay all
quarterly fees due to the United States Trustee's Office.

The Court said only adequate protection given will be to the
Hills.

A copy of the order and the Debtor's budget for the period from
June to October 2022 is available at https://bit.ly/3dvHwH4 from
PacerMonitor.com.

The budget provides for total expenses, on a monthly basis, as
follows:

      $45,103 for June 2022;
     $102,991 for July 2022;
      $95,801 for August 2022;
     $108,277 for September 2022; and
     $107,151 for October 2022.

                 About Apex Conveyor Systems Inc.

Apex Conveyor Systems Inc. designs and manufactures parts and
components for any conveyor system application.

Apex Conveyor Systems Inc. sought protection under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. C.D. Cal. Case No. 22-12152) on
June 6, 2022. In the petition filed by Greg S. King, as president,
the Debtor estimated assets between $100,000 and $500,000 and
liabilities between $1 million and $10 million.

The case is assigned to Honorable Bankruptcy Judge Magdalena Reyes
Bordeaux.

Robert B. Rosenstein, Esq., at Rosenstein & Associates, is the
Debtor's counsel.



APPLIED DNA: Incurs $1.1 Million Net Loss in Third Quarter
----------------------------------------------------------
Applied DNA Sciences, Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $1.12 million on $4.30 million of total revenues for the three
months ended June 30, 2022, compared to a net loss of $3.45 million
on $1.70 million of total revenues for the three months ended June
30, 2021.

For the nine months ended June 30, 2022, the Company reported a net
loss of $7.61 million on $14.61 million of total revenues compared
to a net loss of $9.77 million on $5.99 million of total revenues
for the same period in 2021.

As of June 30, 2022, the Company had $11.92 million in total
assets, $5.13 million in total liabilities, and $6.79 million in
total equity.

Management Commentary

"We executed well in the fiscal third quarter, managing our
financial results through COVID-19 testing seasonality inherent to
our academia-heavy client base and the implementation of cost
management initiatives to optimize our cost structure and
reallocate resources towards our strategic growth pillars to drive
long-term growth," stated Dr. James A. Hayward, president and CEO
of Applied DNA.  "Revenues increased substantially year-over-year
driven by continued demand for fast, accurate detection of COVID-19
especially considering the high transmissibility of the new
sub-variants. Fiscal management remained a key focus, resulting in
a 15% sequential decline in total operating expenses and a halving
of our average monthly cash burn rate since the beginning of this
fiscal year.  These organizational adjustments underscore our
commitment to our LinearDNA platform's value-creation potential and
to sustainable long-term growth.

"Our performance during the quarter was notable also for the
groundwork laid for multiple inflection points over the balance of
the current fiscal year and as we look ahead to fiscal 2023,"
continued Dr. Hayward.  "Notably, we ramped up the positioning of
our LinearDNA platform as an alternative to plasmids (pDNA) to
service the growing global demand for DNA for genetic medicines.
We have determined that the platform's near-term opportunity lies
in its use as a replacement for pDNA in the manufacture of mRNA
therapeutics.  To that end, we recently presented for the
first-time key data demonstrating the numerous advantages of using
linearDNA to manufacture mRNA at an industry conference.  The
industry's receptivity to linearDNA gives us confidence that we are
at the right place and at the right time with a cell-free workflow
for mRNA manufacture that is potentially more cost-effective and
more scalable than pDNA and, in our view, even outpaces our
competition in certain use cases.  We are moving to cultivate
linearDNA supply contracts across the mRNA production spectrum,
from therapy developers to contract development and manufacturing
organizations.

"At ADCL, we believe the recent receipt of a 12-month contract
extension from the City University of New York (CUNY), our largest
client for COVID-19 testing services, serves as a solid foundation
for continued revenue.  Having established ADCL's workflow with
high-throughput COVID-19 testing and with its access to the
Company's DNA expertise, ADCL can develop molecular diagnostics
quickly and, we believe, profitably," continued Dr. Hayward.  "Our
ongoing development of a monkeypox virus test and pharmacogenomics
(PGx) panel offers the excellent potential for uplift in ADCL's
profit margin upon commercialization.  We are on track to submit
the validation package for the monkeypox test in the coming weeks
and anticipate the commercial launch of the PGx panel in early
2023, both contingent on the New York State Department of Health
(NYSDOH) approval as Laboratory Developed Tests (LDTs).  Armed with
an approved LDT, ADCL can serve as a reference lab to hospital
systems and larger clinical labs in New York State and clinical
labs in many other States that accept clinical labs permitted under
the NYSDOH Clinical Laboratory Evaluation Program.

"As for our supply chain integrity business, we believe the
implementation of the Uyghur Forced Labor Prevention Act (UFLPA) on
June 21 is driving the industry's conversations around regulatory
compliance towards our CertainT authentication platform following
the Federal government's recognition of isotopic testing and DNA
traceability as evidence of compliance with the UFLPA.  CertainT's
layered, technology-first, and forensic approach, we believe, makes
it ideally suited to enable customers to withstand the rigor of a
Customs and Border Protection inquiry of goods about to enter the
U.S. marketplace that can also serve to secure brands' supply
chains and backstop their product claims.  We have begun to onboard
new CertainT clients for isotopic testing catalyzed by the UFLPA
while concurrently pursuing sales opportunities both domestically
and internationally catalyzed by the need to differentiate cottons
and production from those under the UFLPA's scrutiny."

Concluded Dr. Hayward, "Subsequent to the close of the quarter, we
closed on an equity offering primarily to fund the further
development of our LinearDNA platform and support the expansion of
ADCL's diagnostics offering through commercialization.  We are
focused on advancing the LinearDNA platform to serve as the common
denominator for the next generation of DNA-based therapies - beyond
mRNA to DNA vaccines and gene and cell therapies.  We believe we
are well positioned for future growth with a strengthened balance
sheet supporting our pivot towards a growing biotherapeutics
opportunity."

A full-text copy of the Form 10-Q is available for free at:

https://www.sec.gov/ix?doc=/Archives/edgar/data/744452/000141057822002279/apdn-20220630x10q.htm

                         About Applied DNA

Applied DNA Sciences, Inc. -- http//www.adnas.com -- is a provider
of molecular technologies that enable supply chain security,
anti-counterfeiting and anti-theft technology, product genotyping,
and pre-clinical nucleic acid-based therapeutic drug candidates.
Applied DNA makes life real and safe by providing innovative,
molecular-based technology solutions and services that can help
protect products, brands, entire supply chains, and intellectual
property of companies, governments and consumers from theft,
counterfeiting, fraud and diversion.

Applied DNA reported a net loss of $14.28 million for the year
ended Sept. 30, 2021, compared to a net loss of $13.03 million for
the year ended Sept. 30, 2020.  As of March 31, 2022, the Company
had $13.88 million in total assets, $6.23 million in total
liabilities, and $7.65 million in total equity.

Melville, NY-based Marcum LLP, the Company's auditor since 2014,
issued a "going concern" qualification in its report dated Dec. 9,
2021, citing that the Company incurred a net loss of $14,278,439
and generated negative operating cash flow of $13,387,955. These
factors raise substantial doubt about the Company's ability to
continue as a going concern.


BEACON SCIENTIFIC: Disposable Income to Fund Play Payments
----------------------------------------------------------
Beacon Scientific, LLC, filed with the U.S. Bankruptcy Court for
the District of Maryland a Subchapter V Plan of Reorganization
dated August 15, 2022.

The Debtor is a Maryland limited liability company organized on May
10, 2017. The Debtor provides engineering consulting services to
clients in the commercial, insurance and legal industries.

The Debtor is owned 100% by George M. Saunders, Jr. Mr. Saunders is
a licensed professional engineer with degrees in mechanical
engineering, physics and holds a Master of engineering in
mechanical engineering. At the time the Debtor was formed, Dr.
Kiddy was issued a 49% interest in the Debtor in exchange for the
sum of $400,000.

Dr. Kiddy alleges that the Debtor and Mr. Saunders wrongfully
declared a default under the loan agreement; wrongfully terminated
him from his employment with the Debtor; and intentionally
misinterpreted the terms and conditions of the loan agreement. Dr.
Kiddy asserts damages against the Debtor and Mr. Saunders in the
amount of approximately $1,000,000.

The litigation caused significant disruption and expense. Despite
diligent efforts, the Debtor was unable to resolve the litigation
on terms acceptable to Dr. Kiddy. This Chapter 11 Case was filed to
preserve the value for the benefit of all Creditors and
parties-in-interest.

Class 1 consists of the Allowed Secured Personal Property Tax Claim
of Anne Arundel County, Maryland for fiscal year 2023 in the
estimated amount of $2,514.00, plus interest at the applicable
legal rate. The Holder of the Class 1 Claim shall be paid in full
on the Effective Date.

Class 2 consists of Priority Claims. In full and complete
satisfaction, discharge and release of the Class 2 Claims, the
Debtor shall pay all Allowed Priority Claims entitled to priority
pursuant to Bankruptcy Code Section 507, other than Priority Tax
Claims set forth in Section 1.2 of this Plan, without interest, on
or before October 15, 2022.

Class 3 consists of Allowed General Unsecured Claims. In full and
complete satisfaction, discharge and release of Class 3 Claims, the
Debtor shall pay Holders of Allowed Class 3 Claims, without
interest, their pro-rata share of all projected disposable income
of the Debtor, on the schedule set forth below. Distributions to
Holders of Allowed Class 3 Claims shall occur on January 15, 2023
and June 15, 2023, and on the 15th day of each January and June
thereafter during the term of this 60 month Plan.

The sum of Allowed General Unsecured Claims is approximately
$304,723.98, which includes an Allowed Class 3 Claim in favor of
Jason S. Kiddy, Ph.d. in the amount of $42,500.00. Holders of Class
3 Claims are advised, however, that Dr. Kiddy asserts a claim
against the Debtor in the amount of approximately $1,000,000. Dr.
Kiddy's claim(s) against the Debtor are disputed, and the subject
of the Circuit Court Action, presently pending in the Bankruptcy
Court. For purposes of this Plan, the Debtor estimates Dr. Kiddy's
Allowed Class 3 Unsecured Claim to be $500,000.

To the extent Dr. Kiddy's Allowed Class 3 Claim against the Debtor
is determined to be $42,500.00, Holders of Allowed Class 3 Claims
will be approximately 84% over the term of this 60-month Plan. In
the event, on the other hand, Dr. Kiddy's Allowed Unsecured Claim
is determined to be $500,000, Holders of Class 3 Claims are
projected to receive, on a pro-rata basis, distributions of
approximately 33% of their Allowed Claims in accordance with the
payment schedule. To the extent Dr. Kiddy's Allowed Class 3 Claim
is determined to be more or less than $500,000, the distribution to
Holders of Class 3 Claims shall be reduced or increased in a
proportional amount. Class 3 is Impaired.

Class 4 consists of Allowed Interests. George M. Saunders, Jr. is
the sole holder of the Equity Interests in the Debtor. On the
Effective Date, the legal, equitable and contractual rights of the
Holders of the Interests in the Debtor shall remain unaltered.
Class 4 is Unimpaired.

During the term of this Plan, the Debtor shall pay all available
disposable income necessary for the performance of the Plan, which
disposable income shall be from revenues and collection of
receivables.

The term of the Plan begins on the Effective Date and ends on the
60th month subsequent thereto.

A full-text copy of the Subchapter V Plan dated August 15, 2022, is
available at https://bit.ly/3SYLvw3 from PacerMonitor.com at no
charge.

Debtor's Counsel:

     Steven L. Goldberg, Esq.
     McNamee, Hosea, P.A.
     6411 Ivy Lane, Suite 200
     Greenbelt, MD 20770
     Tel: (301) 441-2420
     Fax: (301) 982-9450
     Email: sgoldberg@mhlawyers.com

                      About Beacon
Scientific

Beacon Scientific, LLC -- https://www.beacon-scientific.com
–- is an engineering consulting firm serving clients in the
insurance and legal industries (among others) and performing
failure analysis, accident reconstruction (industrial and motor
vehicle) and other engineering consulting services. The company
houses a multi-disciplinary team of engineering experts that are
experienced in failure analysis, systems evaluation, and ultimately
serving as expert witnesses in litigation matters.

Beacon Scientific filed a petition for relief under Subchapter V of
Chapter 11 of the Bankruptcy Code (Bankr. D. Md. Case No. 22-13209)
on June 13, 2022, listing up to $50,000 in assets and up to
$500,000 in liabilities. Stephen Metz has been appointed as
Subchapter V trustee.

Steven L. Goldberg, of McNamee Hosea, P.A. is the Debtor's counsel.


BLACK NEWS: Gets Court OK to Hire PwC as Tax Service Provider
-------------------------------------------------------------
Black News Channel, LLC received approval from the U.S. Bankruptcy
Court for the Northern District of Florida to employ
PricewaterhouseCoopers, LLP as tax compliance and tax consulting
service provider.

The firm's services include:

   a. preparing U.S. federal and state tax returns for the Debtor
for the tax year beginning Jan. l to Dec. 31, 2021;

   b. providing related tax compliance services for the subsequent
tax years, including preparation of year end estimates, estimated
tax payments, allocations, compliance coordination, and related tax
services;

   c. responding to questions on federal, state and local, and
international tax matters; and

   d. assisting the Debtor in matters involving the Internal
Revenue Service or other tax authorities on an as-needed or
as-requested basis.

The firm will be paid as follows:

   a. 2021 Tax Compliance Services: With respect to the 2021 tax
compliance services, PwC is to be compensated on a fixed-fee basis,
in the amount of $17,000, exclusive of expenses. Additional state
returns will have a fee of $1,500 each.

   b. With respect to the subsequent year's tax compliance
services, to the extent the Debtor utilizes the firm for such
services, the firm will be compensated on an hourly basis as
follows:

     Partner               $831 per hour
     Senior Manager        $426 per hour
     Manager               $404 per hour
     Senior Associate      $323 per hour
     Associate             $238 per hour

Nader Farhat, a partner at PwC, disclosed in a court filing that
the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Nader Farhat
     PricewaterhouseCoopers LLP
     76 South Laura Street, Suite 2100
     Jacksonville, FL 32202-3421
     Tel: (904) 354-0671
     Fax: (904) 366-3678

                      About Black News Channel

Black News Channel, LLC is a news network and the only provider of
24/7 multi-platform programming dedicated to covering the
perspectives, challenges and successes of Black and Brown
communities.

Black News Channel sought Chapter 11 bankruptcy protection (Bankr.
N.D. Fla. Case No. 22-40087) on March 28, 2022. In the petition
signed by Maureen Brown, vice president of finance, Black News
Channel listed estimated assets between $10 million and $50 million
and estimated liabilities between $10 million and $50 million.

Judge Karen K. Specie oversees the case.

Richard R. Thames, Esq., at Thames Markey, P.A., is the Debtor's
legal counsel.

On April 12, 2022, the U.S. Trustee for Region 21 appointed an
official committee of unsecured creditors. The committee tapped
Norton Rose Fulbright US, LLP and the law firm of Michael H. Moody
Law, PA as bankruptcy counsels; and PricewaterhouseCoopers, LLP as
tax compliance and tax consulting service provider.


BOY SCOUTS: Revises Mormon Church Bankruptcy Plan Treatment
-----------------------------------------------------------
Daniel Gill of Bloomberg Law reports that Boy Scouts of America has
scaled back legal protections for the Church of Jesus Christ of
Latter-Day Saints in a modified reorganization plan to resolve
decades worth of sex abuse allegations.

Under the new plan, the Mormon church, as it's colloquially called,
will no longer be entitled to sweeping liability releases and will
not contribute $250 million to a settlement trust, according to
Aug. 12 filings in the US Bankruptcy Court for the District of
Delaware. The church has sponsored Scouting activities and was
named as a defendant in some abuse lawsuits.

                   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.


BRAZIL MINERALS: Incurs $1 Million Net Loss in Second Quarter
-------------------------------------------------------------
Brazil Minerals, Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q reporting a net loss
of $1.01 million on $2,367 of revenue for the three months ended
June 30, 2022, compared to a net loss of $1.09 million on $1,645 of
revenue for the three months ended June 30, 2021.

For the six months ended June 30, 2022, the Company reported a net
loss of $1.85 million on $2,844 of revenue compared to a net loss
of $2.28 million on $6,104 of revenue for the six months ended June
30, 2021.

As of June 30, 2022, the Company had $2.16 million in total assets,
$962,613 in total liabilities, and $1.20 million in total
stockholders' equity.

As of June 30, 2022, the Company had cash and cash equivalents of
$393,864 and a working capital deficit of $413,094.

Net cash used by operating activities totaled $1,327,301 for the
six months ended June 30, 2022, compared to net cash used of
$98,400 during the six months ended June 30, 2021 representing an
increase in cash used of $1,228,901.  Net cash used in investing
activities totaled $247,163 for the six months ended June 30, 2022,
compared to net cash used of $957,978 during the six months ended
June 30, 2021, representing a decrease in cash used of $710,815.
Net cash provided by financing activities totaled $1,910,960 for
the six months ended June 30, 2022, compared to $877,812 during the
six months ended June 30, 2021, representing an increase in cash
provided of $1,033,148.

"We have limited working capital, have historically incurred net
operating losses, and have not yet received material revenues from
the sale of products or services.  These factors create substantial
doubt about our ability to continue as a going concern.

"Our primary sources of liquidity have been derived through
proceeds from the (i) issuance of debt and (ii) sales of our equity
and the equity of one of our subsidiaries.  Our ability to continue
as a going concern is dependent upon our capability to generate
cash flows from operations and successfully raise new capital
through debt issuances and sales of our equity.  We have no plans
for any significant cash acquisitions in the foreseeable future,"
stated Brazil Minerals in the SEC filing.

A full-text copy of the Form 10-Q is available for free at:

https://www.sec.gov/ix?doc=/Archives/edgar/data/1540684/000149315222022337/form10-q.htm

                       About Brazil Minerals

Brazil Minerals, Inc., together with its subsidiaries, is a mineral
exploration company currently primarily focused on the development
of its two 100%-owned hard-rock lithium projects.  Its initial goal
is to be able to enter commercial production of spodumene
concentrate, a lithium bearing commodity. Visit
http://www.brazil-minerals.comfor more information.

Brazil Minerals reported a net loss of $4.03 million for the year
ended Dec. 31, 2021, a net loss of $1.55 million for the year ended
Dec. 31, 2020, a net loss of $2.08 million for the year ended Dec.
31, 2019, and a net loss of $1.85 million for the year ended Dec.
31, 2018. As of March 31, 2022, the Company had $1.86 million in
total assets, $1.05 million in total liabilities, and $807,664 in
total stockholders' equity.

Lakewood, CO-based BF Borgers CPA PC, the Company's auditor since
2015, issued a "going concern" qualification in its report dated
March 25, 2022, citing that the Company's significant operating
losses raise substantial doubt about its ability to continue as a
going concern.


CALIFORNIA RESOURCES: Kimmeridge Builds Stake in Company
--------------------------------------------------------
David French of Reuters reports that Kimmeridge Energy Management
Co LLC on Monday, August 15, 2022, confirmed it has amassed a stake
in California Resources Corp (CRC.N) and is engaging with the oil
and gas producer to make changes that include selling some acreage
to real estate developers.

Sources familiar with the matter had earlier told Reuters the
energy-focused activist investment firm owns more than 3 million
shares in California Resources, equivalent to about a 4% stake, and
has been in talks with the company's management in recent weeks on
measures to boost its valuation.

In a statement, Mark Viviano, head of public equities at
Kimmeridge, said it had "maintained a constructive and
collaborative dialogue with the management team".

He did not disclose how much California Resources stock the
investor owned, although in a separate regulatory filing,
Kimmeridge said it held 1.6 million shares as of June 30, 2022.

California Resources rose as much as 2.8% just after midday Eastern
time (1700 GMT) to give the company a market capitalization of $3.6
billion, on a day when most U.S. energy producers were trading
down, tracking a fall in crude prices.

Viviano's statement said the talks included discussions "on how
best to maximize the value of their Huntington Beach land
position".

Kimmeridge has indicated to California Resources the acreage in
Orange County could fetch around $800 million if sold for
conversion to residential real estate, according to the sources.

Kimmeridge has also told California Resources it should focus more
on its nascent carbon capture and sequestration business (CCS), the
sources said.

As well as helping California Resources reach its own net zero
targets, the investor thinks the firm would be well placed to
profit from the technology's increased deployment in the state, due
to the firm's extensive land footprint and its in-depth knowledge
of California's geology, the sources added.

In his statement, Viviano said: "California Resources' mature
conventional fields have the potential to pare low-decline free
cash flow generation with a high-growth carbon sequestration
business."

The sources spoke on condition of anonymity to discuss confidential
information. California Resources did not respond to a comment
request.

OLDER WELLS

California Resources' shares have languished compared with peers
this year, despite high U.S. crude and natural gas prices, as
investors put money into other producers with higher growth rates
that can capture the commodity price upswing.

Much of California Resources' oil and gas comes from older wells
which have low but steady production.

Prior to Monday, the stock had risen 7.7% so far this year,
compared with a 41.4% jump in the S&P energy index (.SPNY).

Earlier this month, the Long Beach-based company announced plans to
form a joint venture with Brookfield Renewable (BEPC.N), (BEP.N)
focused on developing CCS projects across California. Brookfield is
putting up $500 million for the venture, with the potential for
another $1 billion of capital.

Kimmeridge commends the company on the move, Viviano said in his
statement.

California Resources was formed in 2014 after Occidental Petroleum
Corp (OXY.N) spun off its California business into a separate
entity. Weighed by slumping oil prices at the onset of the pandemic
and a $5 billion debt pile, it filed for Chapter 11 bankruptcy in
July 2020, emerging three months later.

                 About California Resources Corp.

California Resources Corporation (NYSE: CRC) is an oil and natural
gas exploration and production company headquartered in Los
Angeles.  The company operates its resource base exclusively within
California, applying complementary and integrated infrastructure to
gather, process and market its production.  Visit
http://www.crc.com/for more information.

On July 15, 2020, California Resources and its affiliates sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D.
Tex. Lead Case No. 20-33568). At the time of the filing, California
Resources estimated assets of between $1 billion and $10 billion
and liabilities of the same range.

Judge David R. Jones oversaw the cases.

The Debtors tapped Sullivan & Cromwell, LLP and Vinson & Elkins LLP
as their bankruptcy counsel, Perella Weinberg Partners as
investment banker, Alvarez & Marsal North America, LLC as
restructuring advisor, and Epiq Corporate Restructuring, LLC, as
claims agent.

                          *     *    *

California Resources Corporation in October 2020 emerged from the
bankruptcy process after cutting $5.91 billion in debt to $725
million.  CRC's Joint Plan of Reorganization in its Chapter 11 case
cancelled pre-existing debt, consolidated CRC's ownership in the
Elk Hills power plant and cryogenic gas plant, and provided for the
payment in full of all valid and undisputed trade and contingent
claims in the ordinary course of business.


CELSIUS NETWORK: Forecasts Negative Cash Outflow Until Oct. 2022
----------------------------------------------------------------
Emily Nicolle of Bloomberg News reports that Celsius Network Ltd.
expects negative net cash flow of $137.2 million for the three
months through October 2022, its lawyers said in a filing, as the
cryptocurrency lender navigates bankruptcy proceedings.

Celsius expects to net around $66.4 million in overall liquidity in
August.  That figure will fall to $11 million the following month
and slide to a negative $33.9 million by October 2022.

The company expects operating costs of $85.4 million for the three
months through October 2022.

As of July 29, 2022 Celsius had customer liabilities of around $2.5
billion in Bitcoin, against $348 million in Bitcoin holdings.

                    About Celsius Network

Celsius Network LLC -- http://www.celsius.network/-- is a
financial services company that generates revenue through
cryptocurrency trading, lending, and borrowing, as well as by
engaging in proprietary trading.

Celsius helps over a million customers worldwide to find the path
towards financial independence through a compounding yield service
and instant low-cost loans accessible via a web and mobile app.
Celsius has a blockchain-based fee-free platform where membership
provides access to curated financial services that are not
available through traditional financial institutions.

The Celsius Wallet claims to be one of the only online crypto
wallets designed to allow members to use coins as collateral to get
a loan in dollars, and in the future, to lend their crypto to earn
interest on deposited coins (when they're lent out).

Crypto lenders such as Celsius boomed during the COVID-19 pandemic,
drawing depositors with high interest rates and easy access to
loans rarely offered by traditional banks.  But the lenders'
business model came under scrutiny after a sharp sell-off in the
crypto market spurred by the collapse of major tokens terraUSD and
luna in May 2022.

New Jersey-based Celsius froze withdrawals in June 2022, citing
"extreme" market conditions, cutting off access to savings for
individual investors and sending tremors through the crypto
market.

The list of major crypto firms that have filed for bankruptcy
protection in 2022 now includes Celsius Network, Three Arrows
Capital and Voyager Digital.

Celsius Network LLC and its subsidiaries sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No.
22-10964) on July 14, 2022.  In the petition filed by CEO Alex
Mashinsky, the Debtor estimated assets and liabilities between $1
billion and $10 billion.

Joshua A. Sussberg, of Kirkland & Ellis LLP, is serving as legal
counsel, Centerview Partners is serving as financial advisor, and
Alvarez & Marsal is serving as restructuring advisor.

Kirkland & Ellis LLP is serving as legal counsel, Centerview
Partners is serving as financial advisor, and Alvarez & Marsal is
serving as restructuring advisor to Celsius.

Stretto, the claims agent, maintain the page
https://cases.stretto.com/celsius


CELSIUS NETWORK: Gets 'Desist And Refrain' Order From DFPI
----------------------------------------------------------
Daily Hodl reports that California's financial services regulator,
the Department of Financial Protection and Innovation of California
(DFPI), is issuing a desist and refrain order to embattled crypto
lender Celsius Network for violating state laws.

The Department of Financial Protection and Innovation of California
(DFPI) is ordering Celsius and its CEO, Alexander Mashinsky, to
stop selling and marketing securities in the Golden State over
claims that the company violated the local Corporation Code.

"Under section 25532 of the Corporations Code, Celsius Network
Inc., Celsius Network Limited, Celsius US Holding LLC, Celsius
Network LLC, and any of their subsidiaries, and Alexander
Mashinsky, are ordered to desist and refrain from the further
offers and sale of securities in California, including but not
limited to the Earn Rewards accounts, unless such sale has been
qualified under Corporations Code section 25111, 25112, or 25113,
or unless such security or transaction is exempted or not subject
to qualification."

The regulator alleges that the Earn Rewards accounts offered by
Celsius are unauthorized securities. It also claims that the New
Jersey-based corporation and its CEO, Alexander Mashinsky, made
materially misleading statements on the risks of investing in these
accounts.

A committee representing the unsecured creditors of Celsius is also
investigating Mashinsky for alleged wrongdoing.

The desist and refrain order comes on the heels of Celsius filing
for bankruptcy On July 13, 2022, the day after the company paused
rewards and withdrawals for its users citing turmoil in the crypto
market.

A spokesperson from blockchain-based payments company Ripple has
hinted that the firm is looking at the feasibility of buying
Celsius’s assets.

                    About Celsius Network

Celsius Network LLC -- http://www.celsius.network/-- is a
financial services company that generates revenue through
cryptocurrency trading, lending, and borrowing, as well as by
engaging in proprietary trading.

Celsius helps over a million customers worldwide to find the path
towards financial independence through a compounding yield service
and instant low-cost loans accessible via a web and mobile app.
Celsius has a blockchain-based fee-free platform where membership
provides access to curated financial services that are not
available through traditional financial institutions.

The Celsius Wallet claims to be one of the only online crypto
wallets designed to allow members to use coins as collateral to get
a loan in dollars, and in the future, to lend their crypto to earn
interest on deposited coins (when they're lent out).

Crypto lenders such as Celsius boomed during the COVID-19 pandemic,
drawing depositors with high interest rates and easy access to
loans rarely offered by traditional banks.  But the lenders'
business model came under scrutiny after a sharp sell-off in the
crypto market spurred by the collapse of major tokens terraUSD and
luna in May 2022.

New Jersey-based Celsius froze withdrawals in June 2022, citing
"extreme" market conditions, cutting off access to savings for
individual investors and sending tremors through the crypto
market.

The list of major crypto firms that have filed for bankruptcy
protection in 2022 now includes Celsius Network, Three Arrows
Capital and Voyager Digital.

Celsius Network LLC and its subsidiaries sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No.
22-10964) on July 14, 2022.  In the petition filed by CEO Alex
Mashinsky, the Debtor estimated assets and liabilities between $1
billion and $10 billion.

Kirkland & Ellis LLP is serving as legal counsel, Centerview
Partners is serving as financial advisor, and Alvarez & Marsal is
serving as restructuring advisor to Celsius.

Stretto, the claims agent, maintain the page
https://cases.stretto.com/celsius


CEREMONY SALON: Wins Cash Collateral Access Thru Oct 5
------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of North
Carolina, Durham Division, authorized Ceremony Salon, LLC to use
cash collateral on an interim basis in accordance with the budget,
with a 10% variance, through the earliest of:

     (i) the entry of a final order authorizing the use of cash
collateral,

    (ii) the entry of a further interim order authorizing the use
of cash collateral,

   (iii) October 6, 2022,

    (iv) the entry of an order denying or modifying the use of cash
collateral, or

     (v) the occurrence of a Termination Event.

These events constitute "Events of Termination":

      a. The effective date of any confirmed Chapter 11 plan in the
proceeding;

      b. Conversion of the case to another Chapter of the
Bankruptcy Code or removal of the Debtor from possession;

      c. The entry of further Court orders regarding the subject
matter hereof;

      d. Dismissal of the proceeding; or

      e. Occurrence of an event of default that is not timely
cured.

The Debtor requires the use of cash collateral to pay its
operational needs including the cost of maintaining the business,
payment of adequate protection payments, and other normal expenses
incurred in the ordinary course of the Debtor's business and as a
result of the filing of the Chapter 11 proceeding.

On May 26, 2020, the Debtor and the U.S. Small Business
Administration entered into a loan and security agreement. The loan
was secured by a blanket lien on all the Debtor's tangible and
intangible personal property and perfected by UCC Financing
Statement 20200061464G filed with the North Carolina Secretary of
State. The Debtor is unsure what the balance of the loan is.

On June 4, 2021, the Debtor and Expansion Group entered into a loan
and security agreement. The loan was secured by a blanket lien on
all the Debtor's assets "now or hereafter acquired" and perfected
by UCC Financing Statement 20210084467F filed with the North
Carolina Secretary of State on June 24, 2021. The Debtor believes
the balance of the Expansion Group loan is approximately $33,950.

On June 23, 2021, the Debtor and Fox Capital Group entered into a
loan and security agreement. The loan was secured by a blanket lien
on all the Debtor's accounts "now or hereafter owned or acquired"
and perfected by UCC Financing Statement 20210095853G filed with
the North Carolina Secretary of State on July 16, 2021. The Debtor
believes the balance of the Fox loan is approximately $12,104.

On July 14, 2021, the Debtor and Fox Capital Group entered into a
loan and security agreement. The loan was secured by a blanket lien
on all the Debtor's "present and future accounts" and perfected by
UCC Financing Statement 20210110415J filed with the North Carolina
Secretary of State on August 13, 2021. The Debtor believes the
balance of this loan is approximately $11,716.

On July 16, 2021, the Debtor and DeltaBridge Funding entered into a
loan and security agreement. The loan was secured by a blanket lien
on all the Debtor's "assets, including proceeds and products" and
perfected by UCC Financing Statement 20210116647A filed with the
North Carolina Secretary of State on August 26, 2021. The Debtor
believes the balance of the Chrome Capital loan is approximately
$5,914.

On August 9, 2021, the Debtor and Chrome Capital Advance entered
into a loan and security agreement. The loan was secured by a
blanket lien on all the Debtor's "present and future accounts" and
perfected by UCC Financing Statement 20210173528B filed  with the
North Carolina Secretary of State on December 29, 2021. The Debtor
believes the balance of the Chrome Capital loan is approximately
$17,353.

On August 12, 2021, the Debtor and Capytal.com entered into a loan
and security agreement. The loan was secured by a blanket lien on
all the Debtor's future receivables and perfected by UCC Financing
Statement 20210123874A filed with the North Carolina Secretary of
State on September 13, 2021. The Debtor believes the balance of the
Capytal loan is approximately $4,320.

On August 25, 2021, the Debtor and Global Funding Experts entered
into a loan and security agreement. The loan was secured by a
blanket lien on all the Debtor's assets "now owned or thereafter
acquired" and perfected by UCC Financing Statement 20210154103M
filed with the North Carolina Secretary of State on November 15,
2021. The Debtor believes the balance of the Global Funding loan is
approximately $16,787.

On September 10, 2021, the Debtor and Green Grass Capital entered
into a loan and security agreement. The loan was secured by a
blanket lien on all the Debtor's assets "now owned or hereafter
acquired" and perfected by UCC Financing Statement 20220013755J
filed with the North Carolina Secretary of State on February 2,
2022. The Debtor believes the balance of the Green Grass loan is
approximately $3,636.

As adequate protection, the Secured Parties are granted a
post-petition replacement lien in the Debtor's post-petition
property of the same type which secured the indebtedness of the
Secured Party pre-petition.

The security interests and liens granted to the Secured Party: (i)
are and will be in addition to all security interests, liens and
rights of set-off existing in favor of the Secured Party on the
Petition Date, if any; and (ii) will secure the payment of the
indebtedness owing to the Secured Party in an amount equal to the
aggregate cash collateral used or consumed by the Debtor.

The Debtor will preserve, protect, maintain and adequately insure
all its assets and continue to operate in the ordinary course of
business.

As additional adequate protection, the Debtor will keep all of its
personal property insured for no less than the amounts of the
pre-petition insurance and maintain appropriate workers
compensation and general liability insurance. The Debtor will
timely pay all insurance premiums related to any and all of the
collateral securing the claims of the Secured Parties.

A further cash collateral hearing is scheduled for October 6 at
9:30 a.m.

A copy of the order and the Debtor's budget for the period from
August 9 to October 5, 2022, is available at https://bit.ly/3pohLeo
from PacerMonitor.com.

The Debtor projects $165,000 in revenue and  $173,138 in total
expenses for the period.

                  About Ceremony Salon, LLC

Ceremony Salon, LLC sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D.N.C. Case No. 22-00492) on March 8,
2022. The case was transferred to the Middle District of North
Carolina (Bankr. M.D.N.C. Case No. 22-00492) on March 21, 2022.

In the petition signed by Rachel Lynn Radford, member-manager, the
Debtor disclosed up to $50,000 in assets and up to $500,000 in
liabilities.

Judge Lena Mansori James oversees the case.

Travis Sasser, Esq., at Sasser Law Firm is the Debtor's counsel.



CHARLES DEWEESE: Fortline Inc. Appointed as New Committee Member
----------------------------------------------------------------
The U.S. Trustee for Region 8 on Aug. 16 appointed Fortline, Inc.
as new member of the official committee of unsecured creditors in
the Chapter 11 case of Charles Deweese Construction, Inc.

The committee is now composed of:

     1. KL Nexus TN, LLC
        105 NE 1st Street
        Delray Beach, FL 33444
        Attention: Devin Radkay and Joshua Gibbs
        Phone: 561-682-9500  
        Email: DRadkay@kolter.com
               Jgibbs@kolter.com

     2. Twin K Construction
        13271 Scott Highway
        Helenwood, TN 37755
        Attention: Jacob Brown or Hunter West
        Phone: 541-255-8137
        Email: Jbrown@twinkconstruction.com

     3. Fortline Inc
        15850 Dallas Parkway
        Dallas Texas 75248
        Attention: Sherry Claytor
        Phone: 214-446-1261
        Email: sherry.clator@reece.com

                About Charles Deweese Construction

Charles Deweese Construction --
https://www.charlesdeweeseconstruction.com/ -- is a construction
and engineering company that provides clients with quality projects
on time and within budget. It is based in Franklin, Ky.

Charles Deweese Construction sought protection under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. W.D. Ky. Case No. 22-10355) on
July 1, 2022, listing $50 million and $100 million in both assets
and liabilities. Charles Weldon Deweese, president, signed the
petition.

Tyler R. Yeager, Esq., at Kaplan Johnson Abate & Bird, LLP is the
Debtor's counsel.


CHARTER COMMUNICATIONS: Fitch Assigns 'BB+' LongTerm IDR
--------------------------------------------------------
Fitch Ratings has affirmed the 'BB+' Issuer Default Ratings (IDRs)
of Charter Communications Operating, LLC (CCO), CCO Holdings, LLC
(CCOH), Time Warner Cable, LLC (TWC) and Time Warner Cable
Enterprises LLC (TWCE) and assigned a 'BB+' Long-Term IDR to
Charter Communications, Inc. (Charter).

Fitch has also affirmed the 'BBB-'/'RR1' senior secured ratings for
instruments at CCO, TWC, and TWCE and the 'BB+'/'RR4' senior
unsecured ratings for instruments at CCOH. The Rating Outlook is
Stable.

Fitch has also assigned a 'BB+'/'RR4' rating to CCOH's proposed
benchmark issuance. Charter is expected to use net proceeds for
general corporate purposes, including potential buybacks of class A
common stock of Charter or common units of Charter Communications
Holdings, LLC (CCH), a subsidiary of Charter, repayment of
indebtedness, and to pay related fees and expenses. As of June 30,
2022, Charter's stock buyback program had the authority to purchase
an additional $673 million of its class A common stock and CCH
common units.

Fitch has also assigned a 'BBB-'/'RR1' rating to CCO's Term Loans
A-5 and A-6, the net proceeds of which were used for repayment of
existing indebtedness.

Fitch has withdrawn the 'BBB-'/'RR1' ratings on Charter's Term Loan
A-4 as they were repaid in full in May 2022.

KEY RATING DRIVERS

Leading Market Position: Charter is the second-largest U.S. cable
MVPD behind Comcast Corp. Charter's 32.1 million customer
relationships at June 30, 2022 provide significant scale benefits.

Credit Profile: Revenue and EBITDA in the LTM ended June 30, 2022
totalled $53.2 billion and $21.4 billion, respectively. As of June
30, 2022, Charter had approximately $95.7 billion of debt
outstanding, including $70.6 billion of senior secured debt. Fitch
estimates total Fitch-calculated gross leverage was 4.5x while
secured leverage was 3.3x for LTM ended June 30, 2022, well within
Fitch's negative rating sensitivities.

Continued Operating Momentum: Charter's operating strategies are
strengthening its competitive position and operating metrics while
expanding margins. The company is focusing on a market share-driven
strategy, leveraging its all-digital infrastructure to enhance its
service offerings' overall competitiveness. As a result, revenues
increased to $53.2 billion for the LTM ended June 30, 2022 from
$41.6 billion in 2017 while Fitch-calculated margins improved by
340 bps to 40.2%, as Charter's wireless business moves toward
break-even and the cable business continues its positive operating
momentum.

Product Mix Shift: Internet services (broadband) revenue surpassed
video services revenue in 2020 and became the company's largest
segment as consumers became increasingly reliant on broadband's
capabilities during the pandemic, including facilitating access to
video streaming services and working from home.

Fitch continues to believe broadband growth will offset the
expected continued industrywide decline in basic video subscribers
while also benefiting margins and FCF, given broadband's higher
margins and lower capital intensity. Wireless is expected to see
continued growth and eventually offset related infrastructure
spending, however systemwide rollout costs are expected to continue
to be a drag on near-term total margins.

Broadband Growth: Fitch expects broadband additions will continue
to slow over the rating horizon as Charter approaches penetration
saturation in its existing footprint, coupled with the pressure of
the significant pull forward of broadband additions as a result of
the pandemic. Fitch expects ARPU growth to drive broadband revenue
growth in the low- to mid-single digits over the rating horizon.
Charter plans to continue to expand its footprint, which has grown
to 55 million homes and businesses passed at June 30, 2022 from
50.3 million at YE 2017. For 2022, Charter guided total capex of
$7.1 billion to $7.3 billion excluding capex associated with its
mobile and rural construction initiative.

Charter expects to spend $5 billion over the next six years on a
rural construction initiative build out broadband capabilities in
unserved areas ($589 million spent in 1H22). To help fund this,
Charter will receive an aggregate $1.2 billion over 10 years from
the Rural Digital Opportunity Fund (RDOF). Although the aggregate
footprint expansion provides growth potential, Fitch is unsure
penetration levels will replicate historical levels, especially in
currently unserved areas.

Wireless Offering: Fitch believes Charter's wireless service
expansion offers further operating leverage improvement through
scaling benefits. In November 2020, Charter extended and expanded
its mobile virtual network operator (MVNO) agreement with Verizon
Communications Inc. To bolster network capabilities and
connectivity and further reduce its dependency on the MVNO, Charter
has been building out and deploying the Citizen Broadband Radio
Service spectrum it purchased in 2020. Each of these actions are
expected to drive margin improvements.

Potential 5G Disruption: 5G wireless technology deployment will
likely become a long-term disrupter, as wireline and wireless
connectivity convergence will threaten legacy competitive
positions, including Charter's broadband business. Fitch expects 5G
will bring new business models, new use cases and the potential for
fixed wireless to capture some broadband share over the medium
term. Fitch expects 5G to fully interoperate with 4G and become an
important enabler for Internet of Things applications.

Debt Capacity Growth: Charter maintains a target net leverage range
of 4.0x-4.5x and up to 3.5x senior secured leverage. Fitch expects
Charter to continue creating debt capacity and to remain within its
target leverage, primarily through EBITDA growth. Proceeds from
prospective debt issuances under debt capacity created are expected
to be used for shareholder returns, internal investment and
accretive acquisitions. Charter's stock buyback program had
authority to purchase an additional $673 million of its class A
common stock and CCH common units as of June 30, 2022.

Ratings are Linked: Fitch's rating approach equalizes the IDRs
across Charter's corporate structure, comprising Charter, CCO,
CCOH, TWC and TWCE, in accordance with Fitch's Parent and
Subsidiary Rating Linkage criteria.

DERIVATION SUMMARY

Charter is well positioned in the MVPD space, given its size and
geographic diversity. With 32.1 million customer relationships,
Charter is the second-largest U.S. cable MVPD after Comcast.

Comcast (A-/Stable) is rated higher than Charter due primarily to
lower target and actual total leverage and significantly greater
revenue size, coverage area and segment diversification. Although
DIRECTV Entertainment Holdings LLC (BB+/Stable) lacks Charter's
segment diversification, scale, growth prospects and FCF levels, it
has lower closing leverage and greater geographic diversification.
It also received a one-notch uplift from AT&T Corp.'s 70% economic
ownership after its spin-off.

Charter's ratings are likely to be held in check as the company
expects to continue issuing debt under additional debt capacity
created by EBITDA growth while remaining within its target total
net leverage range of 4.0x-4.5x. Proceeds from prospective debt
issuance under this additional debt capacity are expected to be
used for shareholder returns along with internal investment and
accretive acquisitions. No Country Ceiling or parent/subsidiary
aspects affect the rating.

KEY ASSUMPTIONS

-- Total revenues increase by mid-single digits in 2022, soften
    to low-single digit growth in 2023 due to economic stressors,
    then return to mid-single digit growth thereafter. In 2022 and

    2023, advertising plays a significant role due to the 2022
    mid-term election cycle and Fitch's expectations for an ad
    recession in 2023. Broadband growth slows to low single digits

    in 2023 due to the weak economic conditions and then returns
    to mid-single digits as the company benefits from ARPU
    increases and its footprint expansion. Video is expected to
    decline 1% annually as price increases are unable to fully
    offset annual mid-single-digit subscriber declines. Mobile
    growth slows over the rating horizon to 20% by 2025;

-- EBITDA margins improve as cable margins settle in the low 40%
    range and wireless margins become positive;

-- Charter is a significant tax payer over the rating horizon as
    NOLs roll off;

-- Continuous network upgrades with a focus on enhancing upstream

    capacity, an upgrade to DOCSIS 4.0 and efforts to bolster
    wireless network capabilities and connectivity. Footprint
    expansion will focus on edge and rural buildouts, although a
    portion of the latter will be offset by federal funding
    including the RDOF. Capital intensity is expected to remain in

    the mid-teens over the rating horizon;

-- FCF ranges from $7.2 billion to $8.3 billion annually;

-- Charter issues sufficient debt to fund near term maturities
    with additional issuance for shareholder returns using debt
    capacity created by EBITDA growth;

-- Leverage remains at 4.5x over the rating horizon;

-- M&A activity is excluded, given the lack of transformational
    acquisitions opportunities.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

-- A strengthening operating profile as the company captures
    sustainable revenue and cash flow growth, and the reduction
    and maintenance of total leverage below 4.0x;

-- Continued progress in closing gaps relative to industry peers
    in service penetration rates and strategic bandwidth
    initiatives.

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

-- A leveraging transaction or adoption of a more aggressive
    financial strategy that increases leverage over 5.0x in the
    absence of a credible deleveraging plan;

-- Perceived weakening of its competitive position or failure of
    its operating strategy to produce sustainable revenue and cash

    flow growth and strengthening operating margins.

LIQUIDITY AND DEBT STRUCTURE

Adequate Liquidity: Fitch regards Charter's liquidity position and
overall financial flexibility as satisfactory and that it will
improve in line with the continued growth in FCF. The company's
liquidity position at June 30, 2022 comprised approximately $483
million of cash, supported by $4.4 billion of availability under
its $5.5 billion revolver which matures in August 2027, as well as
anticipated FCF generation.

Charter's maturities through 2024 are manageable. Including
required term loan amortization, $195 million is due in 2022, $1.9
billion in 2023, and $2.4 billion in 2024. Although maturities
increase to $7.2 billion in 2025, Fitch notes that amount has been
reduced by $2.6 billion since Dec. 31, 2021, and expects the
company to refinance a significant portion of the remainder over
the next three years in line with historical actions. Over the
following 10 years, annual bond maturities range from $1.1 billion
in 2026 to $5.8 billion in 2030. Required term loan amortization
totals $976 million remaining through 2024, with $2.7 billion and
$8.3 billion due at maturity in 2025 and 2027, respectively.

Charter will need to dedicate a significant portion of potential
debt issuance during that period to service annual maturities,
which could reduce cash available for share repurchases, especially
in the event of market dislocation. Fitch expects Charter would be
able to access capital markets to meet upcoming maturities, but its
liquidity profile could be weakened if a market dislocation is
severe enough to hinder the company's access.

CCO is the public issuer of Charter's senior secured debt, and CCOH
is the public issuer of Charter's senior unsecured debt. All of
CCO's existing and future secured debt is secured by a
first-priority interest in all of CCO's assets and is guaranteed by
all of CCO's subsidiaries, including those that hold the assets of
Charter, TWC, Bright House Networks, LLC and CCOH. All of CCOH's
existing and future debt is structurally subordinated to CCO's
senior secured debt and is neither guaranteed by nor pari passu
with any secured debt.

Charter's Fitch-calculated secured leverage is expected to remain
below 4.0x over the rating horizon. Fitch does not view Charter's
secured leverage and strong underlying asset value as structural
subordination that could impair recovery prospects at the unsecured
level. Therefore, Charter's unsecured notes are not notched down
from its IDR.

ISSUER PROFILE

Charter is the second-largest U.S. cable MVPD. Fitch rates Charter
Communications, Inc., Charter Communications Operating, LLC, CCO
Holdings, LLC, Time Warner Cable, Inc. and Time Warner Cable
Enterprises, LLC, which are all indirect wholly owned subsidiaries
of Charter.

RATING ACTIONS

ENTITY/DEBT       RATING                  RECOVERY     PRIOR
-----------       ------                  --------     -----
CCO Holdings, LLC  LT IDR BB+  Affirmed                  BB+

senior unsecured  LT     BB+  New Rating   RR4

senior unsecured  LT     BB+  Affirmed     RR4          BB+

Charter            LT IDR BB+  Affirmed                  BB+
Communications
Operating, LLC

senior secured    LT     BBB- New Rating   RR1

senior secured    LT     BBB- Affirmed     RR1          BBB-

senior secured    LT     WD   Withdrawn                 BBB-

Time Warner        LT IDR BB+  Affirmed                  BB+
Cable Enterprises
LLC

senior secured    LT     BBB- Affirmed     RR1          BBB-

Time Warner        LT IDR BB+  Affirmed                  BB+
Cable, LLC

senior secured    LT     BBB- Affirmed     RR1          BBB-

Charter            LT IDR BB+  New Rating                WD
Communications,
Inc.


COAL NETWORK: Case Summary & 19 Unsecured Creditors
---------------------------------------------------
Debtor: Coal Network, LLC
        7697 Innovation Way, Suite 100
        Mason, OH 45040

Business Description: Coal Network, LLC is a coal marketing
                      firm in Mason, Ohio.

Chapter 11 Petition Date: August 17, 2022

Court: United States Bankruptcy Court
       Eastern District of Kentucky

Case No.: 22-10098

Judge: Hon. Tracey N. Wise

Debtor's Counsel: April A. Wimberg, Esq.
                  DENTONS BINGHAM GREENEBAUM LLP
                  254 Commercial Street
                  Suite 245
                  Portland, ME 04101
                  Tel: (502) 587-3719
                  Fax: (502) 540-2135
                  Email: awimberg@bgdlegal.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Ramesh Malhotra as president.

A copy of the Debtor's list of 19 unsecured creditors is available
for free at PacerMonitor.com at:

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

https://www.pacermonitor.com/view/B4GS5NI/Coal_Network_LLC__kyebke-22-10098__0001.0.pdf?mcid=tGE4TAMA


COBAL FOOD SERVICES: Files Chapter 7 Bankruptcy Protection
----------------------------------------------------------
Sahar Chmais of Austin Business Journal reports that Cobal Food
Services has filed for Chapter 7 bankruptcy.

The company was established in 1988 as Sawyer Food & Management
Service and provided corporate dining services along with a Grab &
Go division that had commercial kitchens in Dallas, Austin and
Houston, according to its LinkedIn page. The bankruptcy filing
lists an address of 100 Commons Road, Suite 7 #638 in Dripping
Springs.

In the bankruptcy filing, Cobal Food Services listed assets between
$0 and $50,000. Estimated liabilities ranged from $1 million to $10
million, with fewer than 50 creditors. They included Accent Food
Services, Coca Cola Southwest Beverages, Dallas County Tax
Assessor, the city of Austin, Sysco Corp. and Wells Fargo.

Chapter 7 bankruptcy means a trustee gathers and sells the
debtor’s nonexempt assets and uses the proceeds to pay creditors.
It differs from a Chapter 11 bankruptcy, which enables a business
to restructure its debts with the goal to remain a going concern.

Cobal previously filed for Chapter 11 bankruptcy in May 2020.

Jerome Brown, listed as bankruptcy attorney for Cobal, did not
return a request for comment.

                   About Cobal Food Services

Cobal Food Services was established in 1988 as Sawyer Food &
Management Service and provided corporate dining services along
with a Grab & Go division that had commercial kitchens in Dallas,
Austin and Houston.

Cobal Food Services sought protection under Chapter 7 of the U.S.
bankruptcy Code (Bankr. W.D. Tex. Case No. 22-10468).  In its
petition, the Debtor reported assets between $0 and $50,000.
Estimated liabilities ranged from $1 million to $10 million, with
fewer than 50 creditors.


COMPASS GROUP: S&P Affirms 'B+' ICR, Outlook Stable
---------------------------------------------------
S&P Global Ratings affirmed its 'B+' issuer credit rating on
Compass Group Diversified Holdings LLC (CODI). The outlook remains
stable. At the same time, S&P affirmed its 'B+' rating on CODI's
senior unsecured notes. The recovery rating remains '4', indicating
its expectation for an average (30%-50%) recovery in the event of a
default. S&P also affirmed its 'BB' rating on the senior secured
revolver. The recovery rating on the senior secured revolver
remains '1', indicating its expectation for very high (90%-100%)
recovery in the event of a default.

CODI's portfolio has improved significantly over the past couple of
years with the acquisitions of several platform companies with high
growth potential (including Marucci, BOA, Lugano and PrimaLoft),
which has improved the company's diversification and cumulative
portfolio value. The company has also funded several bolt-on
acquisitions to its platform companies, adding value and further
creating opportunities for growth. S&P expects the earnings of
CODI's subsidiaries to remain stable or grow over the next 12
months despite heightened inflation and the potential for a
recession.

However, CODI increased its gross debt level significantly to fund
this growth, offsetting the portfolio improvement benefits. Debt
grew to $1.3 billion as of June 30, 2022, from $600 million as of
June 30, 2020. The company issued an additional $400 million term
loan in July 2022 to fund the acquisition of PrimaLoft. S&P said,
"Our estimate of CODI's loan-to-value ratio (LTV) increased to
above 45% over this time period from about 35%, with higher debt
supported somewhat by the increased portfolio value. We expect the
LTV to remain at the lower end of 45%-60% over the next 12-24
months as the company continues to make debt-funded acquisitions."

S&P said, "While we view the improvement in the portfolio as a
partial offset to the higher LTV, we view CODI's business as
somewhat weaker than similarly rated peers such as Hunt Companies
Inc., which has a similarly illiquid and somewhat concentrated
portfolio but is of stronger average credit quality.

"The stable outlook reflects our expectation that CODI will operate
with an LTV on the lower end of 45%-60% while the earnings of its
holdings remain stable or grow. We also expect the business to
remain somewhat concentrated in its largest few holdings and for
the portfolio to remain relatively illiquid and of 'b' range
average credit quality.

"We could lower the rating if the LTV approaches the higher end of
the 45%-60% range. We could also lower the rating if the portfolio
becomes more concentrated in fewer holdings, or if there are
material weaknesses at CODI's subsidiaries, such as declining
earnings or operational issues.

"We could raise the rating if CODI lowers and maintains LTV
significantly below 45% while the business continues to diversify,
and subsidiaries' earnings grow."



COOPER-STANDARD HOLDINGS: S&P Cuts ICR to 'CCC', Outlook Negative
-----------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on North
American automotive supplier Cooper-Standard Holdings Inc. to 'CCC'
from 'CCC+'.

At the same time, S&P lowered its ratings on its secured debt to
'CCC' from 'CCC+' and its unsecured notes to 'CC' from 'CCC-'.
S&P's '3' recovery rating on the secured debt (50%-70%; rounded
estimate: 50%) and '6' recovery rating on the unsecured notes
(0%-10%; rounded estimate: 0%) are unchanged.

The negative outlook reflects heightened risk of a distressed debt
restructuring over the next 12 months as the term loan becomes
current, in the back half of fiscal 2022, while operating
performance remains weak given inflationary cost pressures, and
sustained supply chain constraints.

S&P said, "The downgrade reflects our view of increased risk of a
distressed debt restructuring, particularly as Cooper Standard's
operating performance remains weak and credit market conditions
weaken.The company generated negative adjusted EBITDA and free cash
flow for the six months ended June 30, 2022 amid continued
inflationary cost pressures and volatile OEM production schedules
due to semiconductor chip and other parts shortages. While
Cooper-Standard has negotiated cost recoveries and offsets for
about 65%-75% of raw material cost inflation, it faces labor,
energy, and production inefficiency costs. Despite our expectation
for some volume improvement in the second halfof fiscal 2022, we
believe production volatility and inflationary pressures will
remain, leading to limited earnings improvement and free cash flow
deficits. Given sustained weak earnings, worsening macroeconomic
conditions, and rising interest rates, we expect potential
refinancing terms could be unfavorable, which would further
pressure cash flows. This would increase the risk that
Cooper-Standard engages in a refinancing or restructuring that we
would consider distressed."

Liquidity could become constrained if the term loan comes current
and operating performance remains weak, absent potential liquidity
enhancing transactions. The company has about $406 million cash and
revolver availability. S&P views liquidity as adequate, with
sources covering uses by above 1.2x for the 12 months ended June
30, 2022. If the term loan becomes current in November 2022, it
will treat it as an obligation within the next 12 months and
sources over uses will decline to below 1.2x. Cooper-Standard
supplemented liquidity with about $51 million of tax refunds and
$50 million in sale-leaseback proceeds with potential for further
sale leaseback transactions. Fundamental improvement in operating
performance will need to drive longer-term improvement.
Additionally, the revolving credit facility has a springing
maturity. If the company cannot refinance its term loan 91 days
before Nov. 2, 2023, the revolving credit facility would come due,
further pressuring liquidity and heightening default risk.

The negative outlook reflects S&P's view that the risk of a
distressed debt restructuring is heightened over the next 12 months
given the upcoming debt maturity and that Cooper-Standard's
operating performance remains weak in a volatile auto production
environment.

S&P could lower its rating on Cooper-Standard if:

-- The company announces a debt restructuring or exchange that S&P
would view as tantamount to a default; or

-- Liquidity and operating performance further weaken,
particularly as the term loan maturity nears, such that it believes
a default is imminent.

S&P could raise its rating on Cooper-Standard if the company:

-- Refinances its term loan such that we would not view it as a
distressed exchange; and

-- Moderately improves operating performance.

ESG credit indicators: E-3, S-2, G-3

Environmental factors are a moderately negative consideration in
S&P's credit rating analysis of Cooper-Standard Holdings Inc.
Products in the company's fuel and brake delivery segment (25% of
sales) face some displacement risk from electrification, and its
ability to offset potential losses in its fuel line business
largely depends on maintaining higher content per vehicle in its
fluid and sealing products. A faster-than-expected transition to
battery electric vehicles, coupled with slow adoption of the
company's products, represent modest downside risk. Governance
factors are a moderately negative consideration because the company
has had issues tracking and executing its strategic initiatives
historically--in particular, cost control.



COX BROTHERS: Amends OSPrin III Secured Claim Pay Details
---------------------------------------------------------
Cox Brothers Machining, Inc., submitted a Third Amended Plan of
Reorganization dated August 15, 2022.

This Plan of Reorganization provides for the continued operation of
CBM under the existing management. CBM proposes to make monthly
payments of approximately $12,656 for the maximum period of 60
months to fund the Plan of Reorganization.

CBM reduced its operating expenses and continues to attempt to find
cost cutting measures to maximize the monies available to support
this Plan of Reorganization. Under the Plan, administrative claims,
priority claims and unsecured claims will be paid in full on the
Effective Date. The secured claims will be paid in full over a
period of 60 months.

Funds for the payment of these claims will come from the future
operations of the Debtor's business and from Debtor's cash and
accounts. Funds for the 60th month balloon payment to secured
creditor OSPrin III, LLC are expected to be obtained from
replacement financing. The Plan and funds will be administered by
the Debtor's principle, Russell Cox and CFO Teri Cox. The payments
will be paid in accordance with their class, and then, within the
class, paid in accordance with the applicable priority, as
determined by this Plan.

Class 1 consists of the claim of OSPrin III, LLC Secured by CBM
assets in the amount of $980,740.14. Two payments of $50,000 each
(the Initial Payments) paid on the Effective Date and upon the one
year anniversary of the Effective Date. The current balance after
the first installment of the Initial Payment is approximately
$930,740.14. OSPrin III, LLC is owed $980,740.14 in principal, plus
interest, fees, and attorney fees on Loan No. 0905871844 00067 (the
#67 Loan); Loan No. 0905871844-00026 (the #26 Loan); and, Loan No.
0905871844-00042 (the #42 Loan).

The Plan contemplates a sale of a portion of the building occupied
by the Debtor and owned by Cox Investments II, LLC, a guarantor of
the Debtor. All net proceeds of sale minus normal closing costs
must be tendered to the OSPrin III, LLC at Closing. OSPrin III, LLC
is Secured by a first priority blanket lien all assets of CBM, all
of which is located at the Debtor's business premises at 2300 E.
Ganson, Jackson Michigan. CBM guarantees the debt of Cox
Investments II, LLC to OSPrin III, LLC in the amount of
approximately $237,901.74.

Within 60 days of the Effective Date, Cox Investment II, LLC
expects to pay in full all amounts due and owing to OSPrin III, LLC
, with the source of funds in the sale of the office building
portion of 2300 E. Ganson St., Jackson, Michigan. Cox Investments
II, LLC and Jackson Steel Construction, Inc.1 , as well as Russell
Cox and Teri Cox guaranteed the debt of the Cox Brothers Machining.
OS Prin III, LLC shall retain the mortgage on the remaining portion
of the building owned by Cox Investments II, LLC until OS Prin III,
LLC is paid in full on the Cox Brothers Machining debt pursuant to
the underlying loan documents.

Class 3 consists of the claims of all unsecured creditors, if and
when Allowed. The holders of allowed Class 3 claims shall receive a
100% distribution on account of its allowed claim, exclusive of any
post-petition interest, from the proceeds paid in by the Debtor to
fund the Plan. Class 3 holders shall be paid in full on the
Effective Date. Class 3 General Unsecured Creditors are impaired
and entitled to vote.

A full-text copy of the Third Amended Plan of Reorganization dated
August 15, 2022, is available at https://bit.ly/3zYPL68 from
PacerMonitor.com at no charge.

Attorney for the Debtor:

     Don Darnell P55268, Esq.
     8080 Grand St.
     Dexter, MI 48130
     Tel: (734) 424-5200
     E-mail: dondarnell@darnell-law.com

            About Cox Brothers Machining

Cox Brothers Machining, Inc., is in the business of fabrication of
structural steel components used in the construction and assembly
of bridges throughout the Mid-West American region. CBI runs its
business at a building located at 2300 E. Ganson St., Jackson,
Michigan 49202, a property owned by landlord Cox Investments II,
LLC.

Amid a maturity of debt owed to PrinsBank - Cox Bros. having had a
balloon payment on three loans due Feb. 15, 2022, Cox Brothers
Machining, Inc., sought protection under Subchapter V of Chapter 11
of the Bankruptcy Code (Bankr. E.D. Mich. Case No. 22-41255) on
Feb. 22, 2022. In the petition signed by Russell Cox, president,
the Debtor disclosed up to $10 million in both assets and
liabilities.

Judge Lisa S. Gretchko oversees the case.

Donald Darnell, Esq., at Darnell Law Office, is the Debtor's
counsel.


CYMA CLEANING: Unsecured Creditors Will Get 94% of Claims in Plan
-----------------------------------------------------------------
Cyma Cleaning Contractors, Inc. filed with the U.S. Bankruptcy
Court for the District of Puerto Rico a Plan of Reorganization
dated August 15, 2022.

CYMA is a corporation dedicated to the business of managing and
renting an income generating property. Cyma owns a real property
located at Carr 848 Km 2 Local 199 Saint Just Trujillo Alto, PR
00976.

Due to different catastrophic events, first Hurricanes Irma and
Maria and then the COVID19 Pandemic, the Debtor was unable to meet
the exacting demands of First Bank. Cyma sought bankruptcy
protection with the intent to reorganize the mortgage loan with
First Bank and establish a payment plan for the satisfaction of any
debt allegedly owed to Hacienda and the other creditors.

This Plan provides for three classes of claims and interests: (a)
allowed secured claims of Firstbank, (b) allowed secured claims of
Small Business Administration, (c) allowed secure claims of CRIM
and (d) the general unsecured creditors. In addition, the Plan
provides for the payment to Priority Unsecured Creditor. General
Unsecured Creditors, with Allowed Claims, will receive a
distribution of $1,000.00 equal to a 94.00% distribution on their
allowed general unsecured claims. This Plan also provides for the
payment of administrative claims.

The Plan will treat claims as follows:

     * Class 1 consists of the Allowed Secured Claim of First Bank,
if secured by the Trujillo Alto Commercial Property. If allowed as
filed, FirstBank shall have a Class 1 Allowed Secured Claim equal
to $375,592.67. If any, the Allowed Class 1 Secured Claim shall be
satisfied via 59 monthly and consecutive payments in the amount of
$2,074.04 with one final payment, due on the 60th month following
the day the first payment is made, equal to any remaining principal
balance.

     * Class 2 consists of the Allowed Secured Claim of the Small
Business Administration (the "SBA"), if secured by the Trujillo
Alto Commercial Property. If allowed as filed, the SBA shall have a
Class 2 Allowed Secured Claim equal to $215,117.20. If any, the
Allowed Class 2 Secured Claim of the SBA shall be satisfied via 59
monthly and consecutive payments in the amount of $1,187.89 with
one final payment, due on the 60th month following the day the
first payment is made, equal to any remaining principal balance.

     * Class 3 consists of the Allowed Secured Claim of CRIM, if
secured by the Trujillo Alto Commercial Property. If allowed as
filed, the CRIM shall have a Class 3 Allowed Secured Claim equal to
$44,876.00. If any, the Allowed Class 3 Secured Claim of the SBA
shall be satisfied via 59 monthly and consecutive payments in the
amount of $247.81 with one final payment, due on the 60th month
following the day the first payment is made, equal to any remaining
principal balance.

     * Class 4 Claim consists of the Allowed General Unsecured, if
any. This Class consists of the prepetition unsecured claims
against the Debtor, to the extent Allowed, if any. It is estimated
that Allowed Class 4 General Unsecured Claims will be in the amount
of $1,069.80. The Allowed Class Four Claims shall be satisfied via
a single lump sum payment of $1,000.00 to be paid on the first day
of the second month following the Effective Date of the Plan. If
claims are Allowed as filed, the Allowed Class Two Claims will
receive a distribution equal to 94.00% of their Allowed Claims.

The Plan establishes that the Plan will be funded from the proceeds
generated by the operating business of the Debtor, CYMA. It
generally consists of the Debtor's funds generated from business of
managing and renting an income generating property. The Debtor will
contribute its cash flow to fund the Plan commencing on the
Effective Date of the Plan and continue to contribute through the
date that Holders of Allowed Class 1, Class 2, Class 3 and Class 4
Claims receive the payments specified for in the Plan.

A full-text copy of the Plan of Reorganization dated August 15,
2022, is available at https://bit.ly/3A6JAx1 from PacerMonitor.com
at no charge.

Debtor's Counsel:

     William Rivera Velez, Esq.
     The Batista Law Group, PSC
     P.O. Box 191059
     San Juan, PR 00919
     Telephone: (787) 620-2856
     Facsimile: (787) 777-1589
     E-mail: wrv@batistasanchez.com

                About CYMA Cleaning Contractors

CYMA Cleaning Contractors, Inc. filed a petition under Chapter 11,
Subchapter V of the Bankruptcy Code (Bankr. D.P.R. Case No.
22-01377) on May 16, 2022, listing as much as $1 million in both
assets and liabilities. Jose A. Diaz Crespo serves as Subchapter V
trustee.

Jesus E. Batista Sanchez, Esq., at The Batista Law Group, PSC and
Jimenez Vazquez & Associates, PSC serve as the Debtor's legal
counsel and accountant, respectively.


DARIAN L HAMPTON: Unsecureds Will Get 3% of Claims in 5 Years
-------------------------------------------------------------
Darian L Hampton DDS PA filed with the U.S. Bankruptcy Court for
the Northern District of Texas a Subchapter V Plan of
Reorganization dated August 15, 2022.

Darian L Hampton DDS PA started operations on December 27, 2009.
The Debtor operates a family dental practice, providing routine and
individualized dental care to Denton County.

Dr. Hampton DDS, PA was subsequently compelled to seek bankruptcy
protection when an aggressive creditor convinced an insurance
company to freeze payments to the Debtor. Once the income was
frozen, there was little else the Debtor could do. The final blow
came immediately after the filing of this case wherein Dr. Hampton
received a cancer diagnosis and needed to focus on his aggressive
treatment to save his life.

In the passing months, the cancer prognosis of Dr. Hampton has
improved tremendously, and has been determined to be fully
treatable. While income suffered during the pendency of the
bankruptcy, new patients have recently been added to the practice,
and the outlook looks promising.

The Debtor filed this case on March 16, 2022, with the goal of
reorganizing its debts. Now that Dr. Hampton is through the hardest
part of his cancer treatment and his injured hand has and continues
to improve, the Debtor has implemented a new marketing strategy to
attract new patients to add to its existing group. It is
anticipated that after confirmation, the Debtor will continue in
business. Based upon the projections, the Debtor believes it can
service the debt to the creditors.

Class 5-1 consists of the Disputed Claim of First Home Bank filed
late claim in the amount of $54,800.00. This claim arose from a
Payroll Protection Program loan that was not forgiven. The Debtor
believes this claim loan should have been forgiven, and therefore
should not owe anything on this claim. Since this claim was just
allowed by the Court, the Debtor has not had an opportunity to
further discuss this with the creditor. Since the claim derives
from an unsecured loan, the Debtor will treat this claim as general
unsecured pursuant to Class 6 of the Plan, but place these funds
into a segregated account pending an ultimate determination by the
Court or agreement of the parties.

Class 6 consists of General Unsecured Claims. These claims are
impaired. All allowed unsecured creditors shall receive a pro rata
distribution at zero percent per annum over the next 5 years
beginning not later than 30 days after the effective date, unless
this date falls on a weekend or federal holiday, in which case the
payment will be due on the next business day and continuing every
year thereafter for 4 years.

Nothing prevents Debtor from making monthly or quarterly
distributions that may begin on the 15th day of the month after the
effective date of confirmation, so as long as 1/5 of the annual
distributions to the general allowed unsecured creditors are paid
by each yearly anniversary of the confirmation date of the plan.
Debtor will distribute up to $54,968.46 to the general allowed
unsecured creditor pool over the 5 year term of the plan. The
Debtor's General Unsecured Claims will receive 3% of their allowed
claims under this plan.

Class 7 consists of Equity Interest Holder. The current owner will
receive no payments under the Plan; however, they will be allowed
to retain their ownership in the Debtor. Class 7 Claimant is not
impaired under the Plan.

Debtor anticipates the continued operations of the business to fund
the Plan.

A full-text copy of the Subchapter V Plan August 15, 2022, is
available at https://bit.ly/3pupEiK from PacerMonitor.com at no
charge.

Debtor's Counsel:

     Robert C. Lane, Esq.
     The Lane Law Firm PLLC
     6200 Savoy, Suite 1150
     Houston, TX 77036
     Tel.: (713) 595-8200
     Fax: (713) 595-8201
     Email: notifications@lanelaw.com

                    About Darian L. Hampton

Darian L. Hampton DDS, PA filed a petition under Chapter 11,
Subchapter V of the Bankruptcy Code (Bankr. N.D. Texas Case No.
22-30469) on March 16, 2022, listing $241,406 in assets and
$2,004,490 in liabilities. Katharine B. Clark serves as Subchapter
V trustee.

Judge Harlin Dewayne Hale oversees the case.

The Debtor tapped The Lane Law Firm PLLC as legal counsel.


DIAMONDHEAD CASINO: Incurs $388K Net Loss in Second Quarter
-----------------------------------------------------------
Diamondhead Casino Corporation filed with the Securities and
Exchange Commission its Quarterly Report on Form 10-Q disclosing a
net loss of $387,576 for the three months ended June 30, 2022,
compared to a net loss of $434,552 for the three months ended June
30, 2021.

For the six months ended June 30, 2022, the Company reported a net
loss of $859,098 compared to a net loss of $853,244 for the six
months ended June 30, 2021.

As of June 30, 2022, the Company had $5.56 million in total assets,
$16.51 million in total liabilities, and a total stockholders'
deficit of $10.95 million.

Diamondhead said, "The Company has incurred losses over the past
several years, has no operations, generates no operating revenues,
and as reflected in the accompanying unaudited condensed
consolidated financial statements, incurred a net loss applicable
to common stockholders of $909,898 for the six months ended June
30, 2022.  In addition, the Company had an accumulated deficit of
$44,303,968 as of June 30, 2022.  Due to its lack of financial
resources, the Company has been forced to explore other
alternatives, including a sale of part or all of the Property.

"The Company has had no operations since it ended its gambling
cruise ship operations in 2000.  Since that time, the Company has
concentrated its efforts on the development of its Diamondhead,
Mississippi property.  That development is dependent upon the
Company obtaining the necessary capital, through either equity
and/or debt financing, unilaterally or in conjunction with one or
more partners, to master plan, design, obtain permits for,
construct, open, and operate a casino resort.

"In the past, in order to raise capital to continue to pay on-going
costs and expenses, the Company has borrowed funds, through Private
Placements of convertible instruments as well as through other
secured notes...The Company is in default with respect to payment
of both principal and interest under the terms of most of these
instruments.  In addition, at June 30, 2022, the Company had
$11,418,778 of accounts payable and accrued expenses and $81,454 in
cash on hand.

"The above conditions raise substantial doubt as to the Company's
ability to continue as a going concern."

A full-text copy of the Form 10-Q is available for free at:

https://www.sec.gov/ix?doc=/Archives/edgar/data/844887/000149315222022002/form10-q.htm

                        About DiamondHead

Headquartered in Alexandria, Virginia, DiamondHead Casino
Corporation owns a total of approximately 400 acres of unimproved
land in Diamondhead, Mississippi. Active subsidiaries of the
Company include Mississippi Gaming Corporation, which owns the
approximate 400-acre site and Casino World, Inc.

Diamondhead reported a net loss of $1.52 million for the year ended
Dec. 31, 2021, compared to a net loss of $2.22 million for the year
ended Dec. 31, 2020.  As of March 31, 2022, the Company had $5.55
million in total assets, $16.12 million in total liabilities, and a
total stockholders' deficit of $10.57 million.

Marlton, New Jersey-based Friedman LLP, the Company's auditor since
2004, issued a "going concern" qualification in its report dated
March 21, 2022, citing that the Company has incurred significant
recurring net losses over the past several years. In addition, the
Company has no operations.  These conditions raise substantial
doubt about the Company's ability to continue as a going concern.


DOUBLE J PLAYSCAPES: Taps Bankruptcy Law Office as Counsel
----------------------------------------------------------
Double J Playscapes & Construction, Inc. received approval from the
U.S. Bankruptcy Court for the Eastern District of Michigan to
employ Bankruptcy Law Office to serve as legal counsel in its
Chapter 11 case.

The firm will be paid at the rate of $325 per hour and will be
reimbursed for its out-of-pocket expenses. The retainer fee is
$4,262.

George Jacobs, Esq., a partner at Bankruptcy Law Office, disclosed
in a court filing that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     George E. Jacobs, Esq.
     Bankruptcy Law Office
     2425 S. Linden Rd., Ste. C
     Flint, MI 48532
     Tel: (810) 720-4333
     Email: george@bklawoffice.com

             About Double J Playscapes & Construction

Double J Playscapes & Construction, Inc. is a landscaping services
provider.

Double J Playscapes & Construction filed a petition for relief
under Subchapter V of Chapter 11 of the U.S. Bankruptcy Code
(Bankr. E.D. Mich. Case No. 22-31013) on July 8, 2022, listing up
to $50,000 in assets and up to $100,000 in liabilities. Kimberly
Ross Clayson serves as Subchapter V trustee.

Judge Joel D. Applebaum oversees the case.

George E. Jacobs, Esq., at the Bankruptcy Law Offices, is the
Debtor's counsel.


DW TRUMP: Voluntary Chapter 11 Case Summary
-------------------------------------------
Debtor: DW Trump, Inc.
        26 Parker Boulevard
        Monsey, NY 10952

Chapter 11 Petition Date: August 18, 2022

Court: United States Bankruptcy Court
       Southern District of New York

Case No.: 22-22628

Judge: Hon. Sean H. Lane

Debtor's Counsel: Barry D. Haberman, Esq.
                  LAW OFFICE OF BARRY D. HABERMAN, ESQ.
                  254 South Main Street, #404
                  New City, NY 10956
                  Tel: 845-638-4294
                  Email: bdhlaw@aol.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Ephriam Weissmanl as 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/76Q7POQ/DW_TRUMP__nysbke-22-22628__0001.0.pdf?mcid=tGE4TAMA


EASTERN NIAGARA: No Decline in Patient Care, 10th PCO Report Says
-----------------------------------------------------------------
Michele McKay, the appointed Patient Care Ombudsman for Eastern
Niagara Hospital, Inc., filed a tenth report, dated May 28, 2022 to
July 22, 2022, regarding the Debtor's health care facility.

During the hospital site visit, census on the inpatient medical
unit has ranged from 6-9 patients. The inpatient chemical
dependency unit census was at 10 during the June visit due to a
COVID outbreak on the unit and was at 20 during the July visit. The
Emergency Room was busy at both visits and staff were all engaged
with patient care activities.

The PCO approached various staff on all units, including nurses,
nurse practitioners, physician assistants, and doctors with no
complaints and all indicated needed supplies and equipment for the
care and treatment of patients was available.

The PCO reported no complaints from patients and families and were
very complimentary about the hospital and the care they are
receiving while an inpatient at ENH.

For the timeframe of this tenth report, there are no findings of
decline in patient care. Eastern Niagara Hospital and the Express
Care, Occupational Medicine and Surgery Center on Transit Road
continue to operate in a manner that provides acceptable care to
patients.

A copy of the Ombudsman's Tenth Report is available for free at
https://bit.ly/3bVTrxz from PacerMonitor.com.

              About Eastern Niagara Hospital, Inc.

Eastern Niagara Hospital -- http://www.enhs.org --is a
not-for-profit organization, focused on providing general medical
and surgical services. The Hospital offers radiology, surgical
services, rehabilitation services, cardiac services, respiratory
therapy, obstetrics & women's health, emergency services, acute &
intensive care, chemical dependency treatment, occupational
medicine services, DOT medical exams, dialysis, laboratory
services, and express care.

Eastern Niagara Hospital previously sought protection under Chapter
11 of the U.S. Bankruptcy Code (Bankr. W.D. N.Y. Case No. 19-12342)
on November 7, 2019.

Eastern Niagara Hospital again sought Chapter 11 protection (Bankr.
W.D.N.Y. Case No. 20-10903) on July 8, 2020. In the petition signed
by Anne E. McCaffrey, president and CEO, the Debtor disclosed
between $10 million to $50 million in both assets and liabilities.

Judge Michael J. Kaplan oversees the case. The Debtor tapped
Jeffrey Austin Dove, Esq., at Barclay Damon LLP, as its legal
counsel.

The U.S. Trustee for Region 2 appointed creditors to serve on the
official committee of unsecured creditors on November 22, 2019. The
committee is represented by Bond, Schoeneck & King, PLLC.

Michele McKay was appointed as health care ombudsman in the
Debtor's bankruptcy case.

On August 27, 2020, the Court appointed Hunt Commercial Real Estate
as a broker.


EBERHARDT PARTNERSHIP: Wins Cash Collateral Access
--------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of California,
San Jose Division, authorized Eberhardt Partnership to use cash
collateral on the interim basis.

As a condition to use cash collateral, the Debtor will make
payments to J.P. Morgan Chase Bank, N.A.:

     First Loan: $1,187/month by the 15th day of each and every
month commencing August 15, 2022 (plus the prior payments already
due in May 2022 – July 2022, pursuant to prior interim orders in
the case); Borrower already paid this amount for May, June and
July.

     Second Loan: $392/month on the 15th day of each and every
month commencing August 15, 2022; Borrower also owes this amount
for May, June and July 2022, and will cure it by paying an
additional $1,176 by August 15, 2022.  

The payments will continue each month thereafter until the earlier
of: (1) confirmation of the Debtor's Plan; (2) the Parties
stipulate otherwise; or (3) the Court orders otherwise. Chase will
apply the Adequate Protection Payments to the account consistent
with the terms of the Loans and Bankruptcy Law.

The Debtor is authorized to pay for the normal operating expenses
of the business including a draw not to exceed $6,000/month for
Fran Eberhardt and a draw not to exceed $2,000/month for Ian
Eberhardt until the case is confirmed, dismissed on converted to
another Chapter.

As adequate protection, the Debtor grants Chase a replacement lien
for the use of all pre-petition cash collateral by granting these
secured creditors a lien in post-petition receivables in the same
amount and in the same priority as these creditors had
pre-petition.

A copy of the order is available at https://bit.ly/3JXWXE3 from
PacerMonitor.com.

                  About Eberhardt Partnership

Eberhardt Partnership sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bakr. N.D. Cal. Case No. 22-50291) on April
6, 2022. In the petition filed by Franes Eberhardt, general
partner, the Debtor disclosed up to $500,000 in assets and up to $1
million in liabilities.

Judge Stephen L. Johnson oversees the case.

Lars Fuller, Esq., at The Fuller Law Firm, PC is the Debtor's
counsel.



EMPACADORA Y PROCESADORA: Has Deal on Cash Collateral Access
------------------------------------------------------------
Empacadora y Procesadora del Sur, Inc. and Banco Popular de Puerto
Rico advised the U.S. Bankruptcy Court for the District of Puerto
Rico that they have reached an agreement regarding the Debtor's use
of cash collateral and now desire to memorialize the terms of this
agreement into an agreed order.

The Parties have negotiated and agreed to a further extension of
the First Stipulation Extension up to and including September 30,
2022, pursuant to the Budget.

During the period, the Debtor will be authorized to use the cash
collateral solely to satisfy the permitted expenditures detailed
and described in the Budget. BPPR's consent to the use of cash
collateral and the Debtors' right to use the cash collateral on a
consensual basis terminates automatically on the earlier of: (a)
the occurrence of an Event of Default; or, (b) September 30, 2022,
in the event the Parties are unable to reach a written agreement to
further extend the Stipulation.

For the period of July 31, 2022, through September 30, 2022, the
Debtors will make three monthly adequate protection payments to
BPPR in the amount of $24,907 on the last day of each month,
namely, July 31, 2022, August 31, 2022, and September 30, 2022,
which will be applied to the principal balance of the Loan.

A copy of the stipulation is available at https://bit.ly/3pkidu7
from PacerMonitor.com.

           About Empacadora Y Procesadora Del Sur, Inc.

Empacadora Y Procesadora Del Sur, Inc. sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.P.R. Case No.
22-00354) on February 15, 2022. In the petition signed by Carlos C.
Rodriguez Alonso, president, the Debtor disclosed $11,604,565 in
assets and $10,598,204 in liabilities.

Alexis Fuentes Hernandez, Esq., at Fuentes Law Office represents
the Debtor as counsel.


ENC PARENT: S&P Alters Outlook to Negative, Affirms 'B-' ICR
------------------------------------------------------------
S&P Global Ratings revised its outlook to negative from stable and
affirmed its 'B-' issuer credit rating on ENC Parent Corp.

S&P continues to assess liquidity as adequate, given minimal debt
maturities and low capital spending requirements.

S&P said, "We also affirmed our 'B-' issue-level rating and the '3'
recovery rating (rounded estimate: 50%) on the company's first-lien
debt, as well as the 'CCC' issue-level rating and '6' recovery
rating (rounded estimate: 0%) on the second-lien debt.

"The negative outlook reflects our expectations that ENC's credit
metrics and cash flow will be somewhat weaker due to the negative
impact of higher interest rates on the company's floating-rate debt
combined with lower demand for freight transportation amid slower
macroeconomic growth.

"We forecast ENC's credit metrics and cash flow will be pressured
by higher than previously expected interest expenses and weaker
demand and pricing in 2023.Following the company's acquisition by
Court Square in July 2021, ENC significantly increased the amount
of debt in its capital structure to about $680 million from $280
million, mostly floating-rate debt. We believe raising interest
rates will impact the company's funds from operations (FFO; which
we calculate as EBITDA less cash interest and cash taxes). We
forecast interest expense will increase significantly to around $53
million in 2022 and $58 million in 2023 from about $17 million in
2020, prior to the transaction. Consequently, we forecast FFO to
debt to decline to the mid-single-digit percent area in 2022 and
the low-single-digit percent area in 2023 from around 14% in 2020.
We also forecast debt to EBITDA will decline to the low-6x area in
2022 from the low-8x area in 2021, mainly due to lower
transaction-related expenses. However, we view leverage as somewhat
less reflective of financial risk for ENC since it excludes the
effect of interest expense.

"We believe ENC's operating results face lower demand and pricing
for freight transportation heading into 2023. Following strong
demand for freight transportation in late 2020 through mid-2022,
ENC faces a more challenging macroeconomic environment over the
next 12 months. S&P Global Ratings forecasts lower U.S. economic
growth in 2022 and 2023, as inflation and rising interest rates
take hold. Spot market prices for truckload capacity have declined
in recent weeks, as supply and demand in the truckload market have
aligned, and truckload represents around 20% of the company's
revenue. Consequently, we can expect lower spot prices to pressure
revenues in the second half. In contrast, demand for drayage (which
involves the movement of shipping containers to and from ports,
railyards, and warehouses; about 60% of revenue) remains elevated,
especially in the east coast, where the company primarily operates.
We expect drayage will help offset weaker truckload demand but
believe drayage will decline somewhat, especially in 2023, with
moderating import levels. Therefore, we forecast revenue growth
will slow to the mid-teens percent area 2022 (down from about 55%
in 2021) before declining in the high-single-digit percent area in
2023."

As a truck broker, ENC's business model is somewhat
countercyclical. Like other brokers, the company buys truck
capacity on the spot market and then bills its customers for the
transportation costs plus a premium. A portion of shipments are
priced under contracted rates, so this dynamic leads to gross
margin compression during periods of rising prices when ENC must
pay more for the transportation than the contracted prices it has
with its customers. On the contrary, during periods of decreasing
spot market prices, the company's gross margins benefit from the
price difference. S&P said, "Thus, along with lower
transaction-related expenses, we expect EBITDA margins will improve
modestly to around 5% in 2022 and 2023 (up from around 4% in 2021.
However, we believe EBITDA will decline slightly in 2023 on an
absolute basis given the lower revenue expectations in our
forecast."

S&P said, "We continue to assess ENC's liquidity as
adequate.Although we expect ENC to generate lower FFO in 2023 than
we previously forecast, we continue to view its liquidity as
adequate. The company's liquidity position is supported by its cash
balance, availability under its revolving credit facility, and
minimal near-term debt maturities with a weighted average maturity
of 5.7 years. The $450 million first-lien term loan matures in
2028, and the second-lien term loan matures in 2029. Additionally,
ENC has low capital spending requirements, given the asset-light
nature of its business. In terms of working capital, the company
benefits from the countercyclical nature of it freight brokerage
business during periods of declining prices since its accounts
payable to truck operators decline. We currently expect working
capital requirements will improve through 2023. However,
weaker-than-expected volumes or a slower-than-expected improvement
in working capital outflows both pose risks to the company's cash
flow and consequently liquidity.

"The negative outlook reflects our expectation that ENC's credit
metrics and cash flow will be somewhat weaker due to the negative
impact of higher interest rates on the company's floating rate
debt. We also believe the company faces lower demand for freight
transportation amid slower macroeconomic growth. As a result, we
expect FFO to debt to decline to the low-single-digit percent area
in 2023 from the mid-single-digit percent area in 2022.

"We could lower our ratings on ENC over the next 12 months if the
company's liquidity becomes constrained or we believe the company's
capital structure will not be sustainable over the longer term."

This could occur if:

-- The company's operating performance deteriorates more than we
currently expect due to a significant drop in demand for trucking
and intermodal transportation;

-- Higher-than-expected interest expense coupled with weaker
operating performance reduce the company's cash flow and pressure
liquidity; or

-- The company aggressively pursues large debt-financed
acquisitions.

S&P could revise its outlook on ENC to stable over the next 12
months if the company's FFO to debt remains above the
mid-single-digit percent area on a sustained basis.

This could occur if:

-- Elevated intermodal volumes or higher spot market truck pricing
persists longer than we currently expect; or

-- Better-than-expected operating performance results in higher
FFO, offsetting increased interest expense.

ESG Credit Indicators: E-2, S-2, G-3

S&P said, "Governance factors have a moderately negative influence
on our credit rating analysis of ENC. We view
financial-sponsor-owned companies with highly leveraged financial
risk profiles as demonstrating corporate decision-making that
prioritizes the controlling owners' interests, typically with
finite holding periods and a focus on maximizing shareholder
returns."



ENDO INTERNATIONAL: S&P Downgrades ICR to 'D' on Bankruptcy Filing
------------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on Endo
International PLC to 'D' from 'CC'. At the same time, S&P lowered
all of its ratings on the company's debt to 'D'.

Endo and its subsidiaries filed voluntary petitions for relief
under Chapter 11 of the U.S. Bankruptcy Code in the Bankruptcy
Court for the Southern District of New York.

The downgrade follows Endo's Chapter 11 bankruptcy filing and
entrance into a restructuring support agreement. S&P views the
bankruptcy as primarily driven by ongoing uncertainty around
opioid-related and other lawsuits, as well as the company's high
debt burden.

The company entered into a restructuring support agreement with an
ad hoc group of creditors that hold in excess of 50% of the
company's secured debt and is seeking to sell all or substantially
all of its assets. As per the filing, the debtors will continue to
operate the business, including the authority to continue using its
cash management system, pay employee wages and benefits, and pay
vendors.

Environmental, social, and governance (ESG) credit factors for this
change in credit rating:

-- Health and safety



ENDO INTERNATIONAL: Seeks Cash Collateral Access
------------------------------------------------
Endo International plc and affiliates ask the U.S. Bankruptcy Court
for the Southern District of New York for authority to, among other
things, use cash collateral and provide adequate protection.

The Debtors require immediate access to cash collateral so they can
continue operating during these Cases and preserve the value of
their estates for the benefit of all stakeholders.

As of the Petition Date, the Debtors' consolidated long-term debt
obligations totaled approximately $8.15 billion arising under (a)
one credit agreement, which consists of a revolving credit facility
and a term loan facility, (b) four series of secured notes, and (c)
four series of unsecured notes.

On April 27, 2017, Debtors Endo International plc (Parent), Endo
Luxembourg Finance Company I S.a r.l., and Endo LLC entered into
the credit agreement with JPMorgan Chase Bank, N.A., as swing line
lender, issuing bank, and administrative agent and the lenders
party thereto from time to time. The Credit Agreement provides for
a senior secured revolving credit facility and a senior secured
term loan facility.

On March 25, 2021, Parent, the Borrowers, and certain of the
Prepetition First Lien Loan Secured Parties entered into the
Amendment and Restatement Agreement which amended and restated the
Prior Credit Agreement in order to, among other things:

     (a) refinance in full the existing term loans under the Prior
Credit Agreement, which had approximately $3.295 billion of
principal outstanding, with the proceeds from (i) a new tranche of
senior secured term loans in an aggregate principal amount of $2
billion maturing in March 2028 (subject to an earlier springing
maturity if the  aggregate principal amount outstanding of the
7.500% Notes and the Second Lien Notes, and (ii) $1.295 billion of
newly issued 6.125% Senior Secured Notes due 2029, and

     (b) extend the maturities of approximately $675.3 million of
existing revolving commitments under the Revolving Credit Facility
to March 2026. After giving effect to the Amendment and Restatement
Agreement, the Credit Agreement provided for a $1 billion Revolving
Credit Facility (in total availability) and a $2 billion Term Loan
Facility.

Borrowings under the Revolving Credit Facility bear interest, at
the Parent and Borrowers' election, at a rate per annum equal to
(a) the London Interbank Offered Rate plus an applicable margin
between 1.50% and 3.00% depending on the Company's total net
leverage ratio or (b) the Alternate Base Rate plus an applicable
margin between 0.50% and 2.00% depending on the Company's total net
leverage ratio. Borrowings under the Term Loan Facility bear
interest, at the Parent and Borrowers' election, at a rate per
annum equal to (a) LIBOR plus 5.00%, subject to a LIBOR floor of
0.75%, or (b) the Alternate Base Rate plus 4.00%, subject to an
Alternate Base Rate floor of 1.75%.

To secure the obligations arising under the Credit Agreement and
the First Lien Notes, the Co-Borrower and certain Guarantors
entered into, among other things, that certain US Pledge and
Security Agreement, dated as of April 27, 2017, granting Wilmington
Trust, N.A., in its capacity as collateral trustee, first-priority
liens on and  security interests in substantially all of the
Debtors’ assets, including all proceeds thereof.

As of the Petition Date, (a) approximately $277 million was
outstanding under the Revolving Credit Facility and (b)
approximately $1.98 billion was outstanding under the Term Loan
Facility.

On March 25, 2021, Debtors Lux Borrower and Endo U.S. Inc., issued
the 6.125% Notes pursuant to the indenture, dated as of March 25,
2021, by and among, Computershare Trust Company, National
Association, as trustee, the guarantors party, and the 6.125% Notes
Issuers. As of the Petition Date, approximately $1.295 billion was
outstanding under the 6.125% Notes Indenture.

On March 28, 2019, Debtor Par Pharmaceuticals, Inc. issued $1.5
billion aggregate principal amount of 7.500% senior secured notes
due on April 1, 2027, pursuant to the Indenture, dated March 28,
2019, by and among Par Pharma, as issuer, the guarantors party
thereto, and Computershare, as trustee. The 7.500% Notes are
secured on a pari passu basis by first-priority liens on, and
security interests in, the Prepetition Collateral in accordance
with the terms of the First Lien Prepetition Security Documents and
the First Lien Collateral Trust Agreement. In June 2020, the
Company executed certain transactions which included, among others,
an additional issuance of 7.500% Notes under the 7.500% Notes
Indenture in the aggregate principal amount of approximately $516
million. As of the Petition Date, approximately $2 billion was
outstanding under the 7.500% Notes Indenture.

On April 27, 2017, Debtors Endo Designated Activity Company, Endo
Finance LLC, and Endo Finco Inc. issued $300 million aggregate
principal amount of 5.875% senior secured notes due October 15,
2024, pursuant to the Indenture, dated April 27, 2017 by and among
Computershare, as trustee, the guarantors party thereto, and the
5.875% Notes Issuers. The 5.875% Notes are secured on a pari passu
basis by first-priority liens on, and security interests in, the
Prepetition Collateral in accordance with the terms of the First
Lien Prepetition Security Documents and the First Lien Collateral
Trust Agreement. As of the Petition Date, approximately $300
million was outstanding under the 5.875% Notes Indenture.

On June 16, 2021, Debtors Endo DAC, Endo Finance, and Endo Finco
issued $940.6 million aggregate principal amount of 9.50% senior
secured second lien notes due July 31, 2027, pursuant to that
certain Indenture, dated June 16, 2020, by and among, Wilmington
Savings Fund Society, FSB, as trustee, the Second Lien Notes
Issuers, and the guarantors party thereto. The Second Lien Notes
are secured by a second-priority lien on, and on a junior basis
with respect to, the Prepetition Collateral in accordance with the
terms of the Second Lien Prepetition Security Documents and the
Second Lien Collateral Trust Agreement . As of the Petition Date,
approximately $941 million was outstanding under the Second Lien
Indenture.

To secure the obligations arising under the Second Lien Indenture,
the Co-Borrower and certain Guarantors entered into, among other
things, that certain Second Lien US Pledge and Security Agreement,
dated as of June 16, 2020, as may be amended, restated,
supplemented, or otherwise modified from time to time, granting
Wilmington Trust, N.A., in its capacity as collateral trustee,
second-priority liens on, and security interests in, the
Prepetition Collateral.

After extensive negotiations among the Debtors and the Prepetition
Secured Parties, the Debtors agreed to provide the Adequate
Protection Obligations, subject in each case to the Carve Out and
Permitted Prior Liens, to the extent of any diminution in value of
the Prepetition Secured Parties' respective interests in the
Prepetition Collateral resulting from the imposition of the
automatic stay, the Debtors' use, sale, or lease of the Prepetition
Collateral during the Cases, and/or for any other reason for which
adequate protection may be granted under the Bankruptcy Code.

The Prepetition First Lien Secured Parties will be granted valid,
binding, continuing, enforceable, fully-perfected first-priority
senior, additional and replacement security interests in and liens
on the Debtor's prepetition collateral and other now-owned and
hereafter-acquired real and personal property, assets and rights.

As further adequate protection, the First Lien Secured Parties are
allowed superpriority administrative expense claims in each of the
Cases ahead of and senior to any and all other administrative
expense claims in such Cases to the extent of any Diminution in
Value, but junior only to the Carve Out.

As adequate protection for their proposed use of cash collateral as
set forth in the Interim Order, the Debtors propose to provide the
following to the Prepetition Second Lien Notes Secured Parties:

     a. Second Lien Adequate Protection Liens on the Prepetition
Collateral and the Collateral, which will be immediately junior in
priority only to the Permitted Prior Liens, the Carve Out, the
First Lien Adequate Protection Liens, and the Prepetition First
Liens;

     b. Second Lien Adequate Protection Superpriority Claims, which
will be immediately junior in priority to the Carve Out and the
First Lien Adequate Protection Superpriority Claims;

     c. Operational covenants similar to those granted to the
Prepetition First Lien Secured Parties;

     d. Subject to the limitations and conditions set forth in the
Interim Order, payment of certain fees and expenses of
professionals to the Prepetition Second Lien Notes Secured Parties
(as defined in the Interim Order); and

     e. certain reporting obligations.

A copy of the motion is available at https://bit.ly/3dzQ13Y from
PacerMonitor.com.

                     About Endo International

Endo International plc (NASDAQ: ENDP) is a specialty pharmaceutical
company committed to helping everyone they serve live their best
life through the delivery of quality, life-enhancing therapies. On
the Web: http://www.endo.com/

On August 16, 2022, Endo International plc and certain of its
subsidiaries initiated voluntary prearranged Chapter 11 proceedings
(Bankr. S.D.N.Y. Lead Case No. 22-22549). The Company's cases are
pending before the Honorable James L. Garrity, Jr.

The Company has put up a Web site dedicated to its restructuring:
http://www.endotomorrow.com/

Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal
counsel, PJT Partners LP is serving as investment banker, and
Alvarez & Marsal is serving as financial advisor to Endo.  Kroll is
the claims agent.



ENJOY TECHNOLOGY: Court Okays $110 Mil. Bankruptcy Sale to Asurion
------------------------------------------------------------------
Alex Wolf of Bloomberg Law reports that Enjoy Technology Inc. won
bankruptcy court approval to sell its mobile retail business for
$110 million to Asurion LLC, a technology insurance company that
submitted the only qualified bid for Enjoy's assets.

Palo Alto-based Enjoy, a retail startup founded by former Apple
Inc. executive Ron Johnson, met its burden to sell the company out
of Chapter 11 to Asurion, Judge Kate Stickles of the US Bankruptcy
Court for the District of Delaware ruled during a virtual hearing
Friday.

Asurion provides wireless handset insurance services, roadside
assistance programs, technical support, and electronics
protection.

                      About Enjoy Technology

Enjoy Technology, Inc. provides a commerce-at-home experience for
consumers through their network of mobile retail stores. It is
based in Palo Alto, Calif.

Enjoy Technology and affiliates, Enjoy Technology Operating Corp.
and Enjoy Technology, LLC, sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. D. Del. Lead Case No. 22-10580) on June
30, 2022. In the petition signed by Tiffany N. Meriweather, chief
legal officer and corporate secretary, Enjoy Technology, Inc.
disclosed $111,661,000 in total assets and $69,956,000 in
liabilities.

Judge J. Kate Stickles oversees the cases.

The Debtors tapped Cooley, LLP and Richards, Layton, and Finger
P.A. as legal counsels; Centerview Partners, LLC as investment
banker; and Todd Zoha of AP Services, LLC as chief financial
officer. Stretto, Inc. is the claims, noticing agent and
administrative advisor.

Asurion, LLC, a Delaware Limited Liability Company, as DIP lender,
is represented by Gibson, Dunn & Crutcher LLP, Bass, Berry & Sims
PLC, and Pachulski Stang Ziehl & Jones, LLP.

The U.S. Trustee for Regions 3 and 9 appointed an official
committee to represent unsecured creditors in the Debtors' Chapter
11 cases on July 11, 2022.  The committee is represented by Howard
Cohen, Esq.


FG CAPITAL HOLDINGS: Taps Willis & Davidow as Special Counsel
-------------------------------------------------------------
FG Capital Holdings, LLC received approval from the U.S. Bankruptcy
Court for the Middle District of Florida to employ Willis &
Davidow, LLC as special counsel.

The Debtor needs the firm's legal assistance to pursue claims
against Gates Group, LLC.

Willis & Davidow will be paid at its hourly rate of $325 and will
be reimbursed for its out-of-pocket expenses.

Joseph Davidow, Esq., a partner at Willis & Davidow, disclosed in a
court filing that his firm is a "disinterested person" as the term
is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Joseph Davidow, Esq.
     Willis & Davidow, LLC
     9015 Strada Stell Court, Suite 106
     Naples, FL 34109
     Tel: (239) 465-0531
     Email: jadvidow@willisdavidow.com

                     About FG Capital Holdings

FG Capital Holdings, LLC sought protection for relief under Chapter
11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 22-00581) on
May 31, 2022, listing as much as $1 million in both assets and
liabilities. Judge Caryl E. Delano oversees the case.

Justin M. Luna, Esq., at Latham Luna Eden & Beaudine, LLP and
Willis & Davidow, LLC serve as the Debtor's bankruptcy counsel and
special counsel, respectively.


FINMARK STRATEGY: Taps Willis & Davidow as Special Counsel
----------------------------------------------------------
Finmark Strategy Partners, LLC received approval from the U.S.
Bankruptcy Court for the Middle District of Florida to employ
Willis & Davidow, LLC as special counsel.

The Debtor needs the firm's legal assistance to pursue claims
against Gates Group, LLC.

Willis & Davidow will be paid at its hourly rate of $325 and will
be reimbursed for its out-of-pocket expenses.

Joseph Davidow, Esq., a partner at Willis & Davidow, disclosed in a
court filing that his firm is a "disinterested person" as the term
is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Joseph Davidow, Esq.
     Willis & Davidow, LLC
     9015 Strada Stell Court, Suite 106
     Naples, FL 34109
     Tel: (239) 465-0531
     Email: jadvidow@willisdavidow.com

                  About Finmark Strategy Partners

Finmark Strategy Partners, LLC provides management, scientific, and
technical consulting services. It is based in Naples, Fla.

Finmark Strategy Partners sought protection under Subchapter V of
Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No.
22-00580) on May 31, 2022, listing $1 million to $10 million in
both assets and liabilities. Michael C. Markham has been appointed
as Subchapter V trustee.

Judge Caryl E. Delano oversees the case.

Justin M. Luna, Esq., at Latham Luna Eden & Beaudine, LLP and
Willis & Davidow, LLC serve as the Debtor's bankruptcy counsel and
special counsel, respectively.


FREE SPEECH: Wins Interim Cash Collateral Access
------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Texas,
Victoria Division, authorized Free Speech Systems, LLC to use cash
collateral on an interim basis.

The Debtor is permitted to instruct its credit card processor to
remit to Blue Ascension, LLC its fulfillment charges as set forth
in the Motion, from the daily settlement contemporaneously with the
distributions to FSS and PQPR.

The Debtor will report each Tuesday for the preceding calendar week
reflecting weekly sales and disbursement of the proceeds of those
sales. A copy of the report will be forwarded to the U.S. Trustee,
the Subchapter V Trustee, counsel for PQPR and Jarrod Martin as a
representative of the Connecticut and Texas plaintiffs.

The Court said the remaining terms, findings and provisions of the
Interim Order are not amended or modified and remain in effect.

A copy of the order is available at https://bit.ly/3QGOasn from
PacerMonitor.com.

                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.

The Law Offices of Ray Battaglia, PLLC, is the Debtor's counsel.



FUEL DOCTOR: Incurs $14K Net Loss in Second Quarter
---------------------------------------------------
Fuel Doctor Holdings, Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $14,205 on zero revenue for the three months ended June 30,
2022, compared to a net loss of $3,023 on zero revenue for the
three months ended June 30, 2021.

For the six months ended June 30, 2022, the Company reported a net
loss of $25,491 on zero revenue compared to a net loss of $6,371 on
zero revenue for the same period during the prior year.

As of June 30, 2022, the Company had $73,176 in total assets,
$117,524 in total liabilities, and a total stockholders' deficit of
$44,348.

Fuel Doctor stated, "We have not attained profitable operations and
are dependent upon the continued financial support from our
shareholders, the ability to raise equity or debt financing, and
the attainment of profitable operations from our future business.
These factors raise substantial doubt regarding our ability to
continue as a going concern.

"Our ability to continue as a going concern is dependent upon our
ability to generate future profitable operations and/or to obtain
the necessary financing to meet our obligations and repay our
liabilities arising from normal business operations when they come
due.  Our ability to continue as a going concern is also dependent
on our ability to find a suitable target company and enter into a
possible reverse merger with such company.  Management's plan
includes obtaining additional funds by equity financing through a
reverse merger transaction and/or related party advances; however,
there is no assurance of additional funding being available."

A full-text copy of the Form 10-Q is available for free at:

https://www.sec.gov/ix?doc=/Archives/edgar/data/1459188/000101738622000348/fdoc_2022jun30-10q.htm

                         About Fuel Doctor

Tel Aviv, Israel-based Fuel Doctor Holdings, Inc., is currently
attempting to locate and negotiate with eligible portfolio
companies to acquire an interest in them.  In addition to acquiring
an interest in them, the Company intends to assist these portfolio
companies with raising capital and offer them substantial
managerial assistance needed to succeed.

Fuel Doctor reported a net loss of $17,537 on zero revenue for the
year ended Dec. 31, 2021, compared to net income of $5,764 on zero
revenue for the year ended Dec. 31, 2020.

Garden City, New York-based Liebman Goldberg & Hymowitz, LLP, the
Company's auditor since Feb. 8, 2022, issued a "going concern"
qualification in its report dated April 18, 2022, citing that the
Company anticipates that during 2022, it will not have sufficient
capital.  Furthermore, the Company's losses from operations and
working capital deficiency raises substantial doubt about its
ability to continue as a going concern.


FUSE GROUP: Incurs $130K Net Loss in Third Quarter
--------------------------------------------------
Fuse Group Holding Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q reporting a net loss
of $129,632 on zero revenue for the three months ended June 30,
2022, compared to net income of $20,058 on $150,000 of revenue for
the three months ended June 30, 2021.

For the nine months ended June 30, 2022, the Company reported a net
loss of $331,127 on $200,000 of revenue compared to a net loss of
$13,517 on $500,000 of revenue for the same period during the prior
year.

As of June 30, 2022, the Company had $131,514 in total assets,
$437,871 in total liabilities, and a total stockholders' deficit of
$306,357.

Fuse Group said, "If we are not successful in developing the mining
business and establishing profitability and positive cash flow,
additional capital may be required to maintain ongoing operations.
We have explored and continue to explore options to provide
additional financing to fund future operations as well as other
possible courses of action.  Such actions may include, but are not
limited to, securing lines of credit, sales of debt or equity
securities (which may result in dilution to existing shareholders),
loans and cash advances from other third parties or banks, and
other similar actions.  There can be no assurance we will be able
to obtain additional funding (if needed), on acceptable terms or at
all, through a sale of our common stock, loans from financial
institutions, or other third parties, or any of the actions
discussed above.  If we cannot sustain profitable operations, and
additional capital is unavailable, lack of liquidity could have a
material adverse effect on our business viability, financial
position, results of operations and cash flows."

A full-text copy of the Form 10-Q is available for free at:

https://www.sec.gov/ix?doc=/Archives/edgar/data/1636051/000118518522000914/fuseent20220630_10q.htm

                           About Fuse Group

Headquartered in Arcadia, CA, Fuse Group Holding Inc. provides
consulting services to mining industry clients to find acquisition
targets within the parameters set by the clients, when the mine
owner is considering selling its mining rights. The services of
Fuse Group and Fuse Processing, Inc. include due diligence on the
potential mine seller and the mine, such as ownership of the mine
and whether the mine meets all operation requirements and/or is
currently in operation.

Fuse Group reported a net loss of $1.02 million for the year ended
Sept. 30, 2021, compared to a net loss of $51,411 for the year
ended Sept. 30, 2020.  As of March 31, 2022, the Company had
$216,157 in total assets, $392,882 in total liabilities, and a
total stockholders' deficit of $176,725.

New York, NY-based Paris, Kreit & Chiu CPA LLP, the Company's
former auditor, issued a "going concern" qualification in its
report dated Feb. 11, 2022, citing that as of Sept. 30, 2021, the
Company had recurring losses from operations, an accumulated
deficit, and a negative cash flows from operating activities.  As
such there is substantial doubt about its ability to continue as a
going concern.


GARUDA HOTELS: Court Approves Appointment of Dove as Ch. 11 Trustee
-------------------------------------------------------------------
Judge Wendy A. Kinsella of the U.S. Bankruptcy Court for the
Northern District of New York approved the United States Trustee's
application to appoint Jeffrey A. Dove, Esq., as Chapter 11 Trustee
in the cases of Garuda Hotels, Inc. and Welcome Motels II, Inc. 

Judge Kinsella further ordered that before seven days after his
appointment, Jeffrey A. Dove, Esq., shall file with the Court a
bond in favor of the United States with a surety in an amount
acceptable to the United States Trustee, conditioned on the
faithful performance of his duties pursuant to 11 U.S.C. Section
322(a) of the Bankruptcy Code.

A copy of the order is available for free at https://bit.ly/3A1bxGs
from PacerMonitor.com.

            About Garuda Hotels

Garuda Hotels, Inc. is the operator of a Country Inn and Suites
Hotel and owns the real property upon which the hotel is located,
110 Danby Road, Ithaca, NY.

Welcome Motels II, Inc. is the operator of an Econolodge Hotel and
owns the real property upon which the hotel is located, 2303
Triphammer Road, Ithaca, NY.

Garuda and Welcome Motels II, Inc. sought protection under Chapter
11 of the U.S. Bankruptcy Code (Bankr. N.D.N.Y. Case No.
22-30296-5-wak) on May 13, 2022. In the petition signed by Jay
Bramhandkar, president, Garuda disclosed up to $10 million in both
assets and liabilities.

Judge Wendy A. Kinsella oversees the cases.

Erica Aisner, Esq., at Kirby Aisner & Curley, LLP is the Debtors'
counsel.

Jeffrey A. Dove, Esq., has been appointed as Chapter 11 Trustee in
the case.


GL INVESTMENTS: Case Summary & Two Unsecured Creditors
------------------------------------------------------
Debtor: GL Investments Group, LLC
        7215 Canby Ave.
        Reseda, CA 91335

Chapter 11 Petition Date: August 17, 2022

Court: United States Bankruptcy Court
       Central District of California

Case No.: 22-10960

Judge: Hon. Victoria S. Kaufman

Debtor's Counsel: Matthew Abbasi, Esq.
                  ABBASI LAW CORPORATION
                  6320 Canoga Ave.
                  Suite 220
                  Woodland Hills, CA 91367
                  Tel: (310) 358-9341
                  Fax: (310) 709-5448
                  Email: matthew@malawgroup.com

Total Assets: $0

Total Liabilities: $1,310,400

The petition was signed by Hen Levi as manager.

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

https://www.pacermonitor.com/view/6OJ3OEA/GL_Investments_Group_LLC__cacbke-22-10960__0001.0.pdf?mcid=tGE4TAMA


GLEAMIN INC: Case Summary & 15 Unsecured Creditors
--------------------------------------------------
Debtor: Gleamin Inc.
        750 N San Vicente Blvd.
        Suite 800
        West Los Angeles, CA 90069

Business Description: Gleamin Inc. is in the business of
                      manufacturing superfood beauty products
                      including masks, serums, and moisturizers.

Chapter 11 Petition Date: August 17, 2022

Court: United States Bankruptcy Court
       District of Delaware

Case No.: 22-10768

Debtor's Counsel: Joseph C. Barsalona II, Esq.
                  PACHAMAN STEIN WALDER HAYDEN, P.C.
                  1007 North Orange Street, 4th Floor
                  Suite #183
                  Wilmington, DE 19801
                  Tel: 302-592-6497
                  Email: jbarsalona@pashmanstein.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Jordan Smyth as founder and CEO.

A full-text copy of the petition containing, among other items, a
list of the Debtor's 15 unsecured creditors is available for free
at PacerMonitor.com at:

https://www.pacermonitor.com/view/KIGXJTQ/Gleamin_Inc__debke-22-10768__0001.0.pdf?mcid=tGE4TAMA


GUARACHI WINE: Taps Sherwood Partners as Sales Agent
----------------------------------------------------
Guarachi Wine Partners, Inc. seeks approval from the U.S.
Bankruptcy Court for the Central District of California to employ
Sherwood Partners, Inc. as sales agent.

The firm's services include:

   a. identifying all available assets (i.e., the Debtor's wine
inventory and brands and related intellectual property) that can be
sold or monetized;

   b. preparing an executive summary and other materials to be used
in Sherwood's marketing efforts;

   c. developing a target list of potential buyers from the firm's
database, research, and discussions with management;

   d. leading the outreach process to potential buyers;

   e. managing the auction process and closing of transactions;
and

   f. performing any other services, which may be appropriate in
the firm's retention as the Debtor's sales agent in connection with
the auction of the assets.

Sherwood will be paid an upfront fee of $35,000, and a 9 percent
"success" fee.

Bernie Murphy, a senior managing director at Sherwood, disclosed in
a court filing that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Bernie Murphy
     Sherwood Partners, Inc.
     3945 Freedom Circle, Suite 560
     Santa Clara, CA 95054
     Phone: 650-454-8001
     Fax: 650-454-8040
     Email: info@sherwoodpartners.com

                   About Guarachi Wine Partners

Guarachi Wine Partners Inc. is a wine wholesaler based in
California. It was founded by Alex Guarachi, the sole shareholder,
and has been in business since 1985.

Guarachi Wine Partners sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. C.D. Calif. Case No. 22-10545) on May
4, 2022. In the petition signed by Alejandro Guarachi, president
and chief executive officer, the Debtor disclosed up to $10 million
in both assets and liabilities.

Judge Victoria S. Kaufman oversees the case.

Ron Bender, Esq., at Levene, Neale, Bender, Yoo and Golubchick, LLP
is the Debtor's counsel.


H-CYTE INC: Incurs $2.6 Million Net Loss in Second Quarter
----------------------------------------------------------
H-Cyte, Inc. filed with the Securities and Exchange Commission its
Quarterly Report on Form 10-Q disclosing a net loss of $2.64
million on $73,900 of revenues for the three months ended June 30,
2022, compared to a net loss of $2.06 million on $450,456 of
revenues for the three months ended June 30, 2021.

For the six months ended June 30, 2022, the Company reported a net
loss of $6.53 million on $453,460 of revenues compared to a net
loss of $3.47 million on $826,625 of revenues for the same period
in 2021.

As of June 30, 2022, the Company had $305,691 in total assets,
$6.88 million in total liabilities, and a total stockholders'
deficit of $6.58 million.

H-Cyte stated, "COVID-19 has adversely affected the Company's
financial condition and results of operations.  The impact of the
outbreak of COVID-19 on the economy in the U.S. and the rest of the
world is expected to continue to be significant.  The extent to
which the COVID-19 outbreak will continue to impact the economy is
highly uncertain and cannot be predicted.  Accordingly, the Company
cannot predict the extent to which its financial condition and
results of operations will be affected.

"The Company had cash on hand of approximately $46,000 as of June
30, 2022, and approximately $3,000, as of August 12, 2022.  The
Company's cash is insufficient to fund its operations over the next
year and the Company is currently working to obtain additional debt
or equity financing to help support working capital needs.

"There can be no assurance that the Company will be able to raise
additional funds or that the terms and conditions of any future
financings will be workable or acceptable to the Company or its
shareholders.  If the Company is unable to fund its operations from
existing cash on hand, operating cash flows, additional borrowings,
or raising equity capital, the Company may not continue
operations."
A full-text copy of the Form 10-Q is available for free at:

https://www.sec.gov/ix?doc=/Archives/edgar/data/1591165/000149315222022301/form10-q.htm

                         About H-CYTE Inc.

Headquartered in Tampa, Florida, H-CYTE Inc. --
http://www.HCYTE.com-- is a hybrid-biopharmaceutical company
dedicated to developing and delivering new treatments for patients
with chronic respiratory and pulmonary disorders.

H-Cyte reported a net loss of $4.80 million for the year ended Dec.
31, 2021, compared to a net loss of $6.46 million on $2.15 million
of revenues for the year ended Dec. 31, 2020. As of Dec. 31, 2021,
the Company had $321,405 in total assets, $4.98 million in total
liabilities, and a total stockholders' deficit of $4.66 million.

Tampa, Florida-based Frazier & Deeter, LLC, the Company's auditor
since 2018, issued a "going concern" qualification in its report
dated Feb. 25, 2022, citing that he Company has negative working
capital, has an accumulated deficit, has a history of significant
operating losses and has a history of negative operating cash flow.
These factors raise substantial doubt about the Company's ability
to continue as a going concern.


HERO NUTRITIONALS: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Hero Nutritionals, LLC
        1900 Carnegie Ave. Bldg. A
        Santa Ana, CA 92705

Chapter 11 Petition Date: August 17, 2022

Court: United States Bankruptcy Court
       Central District of California

Case No.: 22-11383

Judge: Hon. Scott C. Clarkson

Debtor's Counsel: David M. Goodrich, Esq.
                  GOLDEN GOODRICH LLP
                  650 Town Center Drive
                  Suite 600
                  Costa Mesa, CA 92626
                  Tel: (714) 966-1000
                  Fax: (714) 966-1002
                  Email: dgoodrich@go2.law

Estimated Assets: $10 million to $50 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Jennifer Leigh Hodges, CEO of Hero
Nutrionals, Inc., the sole member.

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

https://www.pacermonitor.com/view/2WLVITA/Hero_Nutritionals_LLC__cacbke-22-11383__0001.0.pdf?mcid=tGE4TAMA

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim    Claim Amount
   ------                          ---------------    ------------
1. Abelei Flavors                    Trade Debt            $54,941
Attn: Jean Kleist
194 Alder Dr.
North Aurora, IL 60542

2. Amazon                            Trade Debt            $35,000
PO Box 84394
Seattle, WA 98124

3. CNA Insurance                     Trade Debt            $36,303
PO Box 74007619
Chicago, IL 60674

4. CPC Neutek                        Trade Debt            $25,000
2800 Printers Way
Grand Junction, CO 81506

5. Electro Systems                   Trade Debt            $26,000
Attn: Mitch Cottrell
16932 Gothard St.,
Unit 1
Huntington Beach,
CA 92647

6. Insight Exhibits                  Trade Debt            $15,751
1367 S. 700 W.
Salt Lake City, UT
84104

7. Irvine Valley Air                 Trade Debt            $15,704
2961 E. Coronado St.
Anaheim, CA 92806

8. Kimco Staffing                    Trade Debt            $78,033
Attn: Jackie Estivez
Barr Credit Ser
4555 S. Palo Verde
Rd Ste 125
Tucson, AZ 85714

9. Los Angeles                       Trade Debt            $16,158
Welding Integrated Inc.
Attn: Angel Murguia
dba AMC Boilers
6907 Cedar St.
Huntington Park, CA 90255

10. Nitta Gelatin NA Inc.            Trade Debt            $69,545
598 Airport Blvd Ste 900
Morrisville, NC 27560

11. One Morgan LLC                  Commercial          $1,847,460
Attn: Essex Realty Mgmt Inc.         Property
17744 Sky Park Cir, Ste 100           Lease
Irvine, CA 92614

12. Paul Tauger                      Trade Debt            $12,850
5335 Residencia
Newport Beach, CA 92660

13. Prinova                          Trade Debt            $50,000
6525 Muirfield Dr.
Hanover Park, IL
60133

14. RFI Ingredients                  Trade Debt            $14,776
Attn: Della Thomas
300 Corporate Dr.
Ste 14
Blauvelt, NY 10913

15. SBA/Bank of America             PPP/SBA Loan          $331,000
10737 Gateway
West #300
El Paso, TX 79935

16. Southern California Edison       Utilities/           $187,944
Attn: Account Services                 Energy
PO Box 6400
Rancho Cucamonga, CA 91729

17. Southern California Gas          Utilities/            $39,825
PO Box C                             Natural Gas
Monterey Park, CA
91756

18. Syntegon Tech Services            Trade Debt           $23,890
36809 Treasury
Center
Chicago, IL 60694

19. Trane US Inc.                     Trade Debt           $14,784
Attn: Brandon Uffelman
PO Box 98167
Chicago, IL 60693

20. Winkler Dunnebier                 Trade Debt          $212,143
Sohler Weg 65
56564 Neuwied - Germany


HOLLIDAY ROAD: Unsecureds Will Get 15% of Claims in 60 Months
-------------------------------------------------------------
Holliday Road Burgers, LLC filed with the U.S. Bankruptcy Court for
the Northern District of Texas an Amended Plan of Reorganization
dated August 15, 2022.

The Debtor operates a hamburger restaurant in Wichita Falls, Texas.
The Debtor proposes to restructure its current indebtedness and
continue its operations to provide a dividend to the creditors of
Debtor.

The Debtor filed this case on April 4, 2022 and has continued to
operate the restaurant. Post petition the Debtor has corrected some
license and permit issues and it currently fully operations and in
compliance with all operational requirements. The Debtor has
maintained operations post petition but has struggled with labor
issues. The Debtor has entered into an Agreed Order with First Bank
and is currently providing adequate protection payments in the
amount of $900 per month.

Class 3 consists of Allowed Secured Claim of First Bank. First
Bank's secured claim is allowed in the amount of $112,500.00. First
Bank's secured claim shall be paid in full with interest at 6% per
annum with interest accruing beginning on September 1, 2022 and
continuing until paid in full. The payments shall be based upon a
ten year amortization with monthly installments and a five year
balloon payment. First Bank's allowed unsecured claim in the amount
of $347,625 shall be paid its proportionate share of the unsecured
creditor's pool for Class 4 claimants.

Class 4 Allowed Unsecured Claims are impaired.  All unsecured
creditors shall share pro rata in the unsecured creditors pool. The
Debtor shall make monthly payments commencing 30 days after the
Effective Date of $500 into the unsecured creditors' pool. The
amount represents the Debtor's disposable income as that terms is
defined in 11 U.S.C. § 1191(d).

The Debtor shall make distributions to the Class 4 creditors every
90 days commencing 90 days after the first payment into the
unsecured creditors pool. The Debtor shall make 60 payments into
the unsecured creditors pool. Based upon the Debtor's schedules and
the timely filed Proof of Claim the Class 4 creditors will receive
15% of their Allowed Claims under this Plan. The Debtor may prepay
any Class 4 creditor without penalty. The Class 4 creditors are
impaired.

Class 5 consists of Current Owners. The current owner will receive
no payments under the Plan, however, she will be allowed to retain
her ownership in the Debtor. Class 5 Claimants are not impaired
under the Plan.

Debtor anticipates the continued operations of the business to fund
the Plan.

A full-text copy of the Amended Plan of Reorganization dated August
15, 2022, is available at https://bit.ly/3wc95M7 from
PacerMonitor.com at no charge.

Proposed Attorneys for the Debtor:

     Eric A. Liepins, Esq.
     Eric A. Liepins, PC
     12770 Coit Road, Suite 850
     Dallas, TX 75251
     Telephone: (972) 991-5591
     Facsimile: (972) 991-5788

                   About Holliday Road Burgers

Holliday Road Burgers, LLC, which operates a restaurant known as
Gene's Tasty Burgers in Wichita Falls, Texas, sought Chapter 11
bankruptcy protection (Bankr. N.D. Texas Case No. 22-70053) on
April 4, 2022. In the petition filed by Daine Clay, as management
member, the Debtor disclosed up to $50,000 in estimated assets and
up to $500,000 in estimated liabilities.

Eric A. Liepins, Esq., is the Debtor's counsel.


HUMANIGEN INC: Lowers Net Loss to $30.15 Million in Second Quarter
------------------------------------------------------------------
Humanigen, Inc. filed with the Securities and Exchange Commission
its Quarterly Report on Form 10-Q reporting a net loss of $30.15
million on $1.04 million of total revenue for the three months
ended June 30, 2022, compared to a net loss of $70.80 million on
$1.04 million of total revenue for the three months ended June 30,
2021.

For the six months ended June 30, 2022, the Company reported a net
loss of $51.43 million on $2.07 million of total revenue compared
to a net loss of $136.37 million on $1.52 million of total revenue
for the same period in 2021.

The decrease in net loss for both periods was largely due to a
decrease in expenses, mainly research and development expense.  R&D
expense decreased $36.6 million from $63.0 million for the three
months ended June 30, 2021, to $26.4 million for the three months
ended June 30, 2022 and decreased $79.2 million from $122.9 million
for the six months ended June 30, 2021 to $43.7 million for the six
months ended June 30, 2022.  The decrease in R&D expense is
primarily due to decreased lenzilumab manufacturing costs for the
quarter ended June 30, 2022 of $34.6 million, and for the six
months ended June 30, 2022 of $70.3 million.

As of June 30, 2022, the Company had $49.45 million in total
assets, $99.54 million in total liabilities, and a total
stockholders' deficit of $50.09 million.

Net cash used in operating activities, net of balance sheet
changes, was $44.8 million for the six months ended June 30, 2022.
During the first half of 2022, the company sold shares of its
common stock under its At-the-Market or "ATM" facility, raising net
proceeds of approximately $21.8 million.  As of June 30, 2022, the
company had cash and cash equivalents of approximately $47.0
million.  Subsequent to end of the quarter and through Aug. 10,
2022, the company raised an additional $15.9 million under the
ATM.

In July 2022, the company repaid the Term Loan with Hercules by
prepaying $25.0 million of outstanding principal, together with
approximately $1.7 million of accrued interest, fees and other
amounts, due under the loan, terminating all obligations, liens and
security interests thereunder.  By retiring the Term Loan, the
company reduced future cash payments for interest and enhanced its
ability to generate additional liquidity from its intellectual
property by removing the loan's collateral requirements.

A full-text copy of the Form 10-Q is available for free at:

https://www.sec.gov/ix?doc=/Archives/edgar/data/1293310/000121465922010013/hgen-20220630.htm

                            About Humanigen, Inc.

Based in Brisbane, Calif., Humanigen, Inc. (OTCQB: HGEN), formerly
known as KaloBios Pharmaceuticals, Inc. -- http://www.humanigen.com
-- is a clinical stage biopharmaceutical company developing its
clinical stage immuno-oncology and immunology portfolio of
monoclonal antibodies.  The Company is focusing its efforts on the
development of its lead product candidate, lenzilumab, its
proprietary Humaneered anti-human GM-CSF immunotherapy, through a
clinical research agreement with Kite Pharmaceuticals, Inc., a
Gilead company to study the effect of lenzilumab on the safety of
Yescarta, axicabtagene ciloleucel including cytokine release
syndrome, which is sometimes also referred to as cytokine storm,
and neurotoxicity, with a secondary endpoint of increased efficacy
in a multicenter Phase Ib/IIclinical trial in adults with relapsed
or refractory large B-cell lymphoma.

Humanigen reported a net loss of $236.65 million for the 12 months
ended Dec. 31, 2021, a net loss of $89.53 million for the 12 months
ended Dec. 31, 2020, and a net loss of $10.29 million for the 12
months ended Dec. 31, 2019.  As of March 31, 2022, the Company had
$71.33 million in total assets, $96.37 million in total
liabilities, and a total stockholders' deficit of $25.05 million.


INDEPENDENCE FUEL: Gets Interim Cash Collateral Access
------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Texas, Tyler
Division, authorized Independence Fuel Systems, LLC to use cash
collateral on an interim basis in accordance with the budget.

As of the Petition Date, Origin Bank asserts the Debtor owed the
bank under a prepetition credit facility. The Debtor's obligations
under the Prepetition Facility are evidenced by these loan
documents:

     1. The Loan Agreement, by and between the Debtor and Origin,
dated July 26, 2016;

     2. The First Amendment to Loan Agreement, by and between the
Debtor and Origin, dated July 25, 2017;

     3. The Advance Promissory Note, executed by the Debtor in
favor of Origin, dated July 26, 2016, in the original principal
amount of $3,500,000;

     4. The Advance Promissory Note (Second Advance Note), executed
by the Debtor in favor of Origin, dated July 25, 2017, in the
original principal amount of $1,500,000;

     5. The Security Agreement executed by the Debtor in favor of
Origin, dated effective July 26, 2016;

     6. The Collateral Assignment of Royalty Agreements, executed
by the Debtor in favor of Origin, dated defective July 26, 2016;

     7. The Collateral Assignment of Leases, executed by the Debtor
in favor of Origin, dated defective July 26, 2016;

     8. The Restated Collateral Assignment of Royalty Agreements,
executed by the Debtor in favor of Origin, dated defective July 25,
2017;

     9. The Restated Collateral Assignment of Leases, executed by
the Debtor in favor of Origin, dated defective July 25, 2017;

    10. The UCC-1 Financing Statement, filed on August 10, 2016
with the Texas Secretary of State under Filing Number
16-0026283583; and

    11. The UCC-1 Financing Statement, filed on September 30, 2021
with the Texas Secretary of State under Filing Number
21-0043072625.

As of the Petition Date, the Prepetition Facility Obligations are
legal, valid, binding, fully perfected, and non-avoidable
obligations in the estimated aggregate liquidated amount of not
less than $5,087,646.

As partial adequate protection and in the same priority and to the
same extent and validity as existed prepetition, Origin is granted:
(a) automatic perfected replacement liens on all property now owned
or hereafter acquired by the Debtor: and (b) superpriority
administrative claims pursuant to sections 361(2), 363(c)(2),
503(b)(1), 507(a)(2), and 507(b) of the Bankruptcy Code. The
Replacement Liens granted will not attach to any Chapter 5 causes
of action under the Bankruptcy Code.

The Replacement Liens and the Superpriority Claims are granted
solely to the extent that the Debtor's use of Cash Collateral
results in a diminution in value of the Prepetition Facility
Collateral securing the Prepetition Facility Obligations and will
constitute legal, valid, binding, fully perfected, and
non-avoidable obligations of the Debtor, enforceable against the
Debtor's estate and its respective successors and assigns.  The
Replacement Liens are valid, perfected, enforceable and effective
as of the Petition Date without the need for any further action by
the Debtor or Origin, or the necessity of execution or filing of
any instruments or agreements.

As additional partial adequate protection for use of the
Prepetition Facility Collateral and the Collateral, the Debtor will
make monthly payments to Origin of $10,000. The first Payment will
be due and payable on or before August 20, 2022, and each
subsequent Payment will be due and payable on the 20th day of every
month thereafter (i.e., the second payment will be due and payable
by September 20, 2022 and the third payment will be due and payable
by October 20, 2022).

The Debtor will also maintain adequate insurance coverage on the
Prepetition Facility Collateral and the Collateral, as may be
required under the Prepetition Facility Documents.

The Debtor will immediately cease using cash collateral after the
Cure Period upon the occurrence of any of these events:

     a. there is an Event of Default under the Prepetition Facility
Documents, provided, however, that non-payment under the
Prepetition Facility Documents, any default related to the
insolvency or financial condition of the Debtor, or the
commencement of a case under the Bankruptcy Code shall not
constitute a Termination Event;

     b. The Debtor violates any term of the Interim Order;

     c. The entry of an order:

          i. converting the Debtor's Bankruptcy Case to a case
under chapter 7 of the Bankruptcy Code;

         ii. dismissing the Debtor's Bankruptcy Case;

        iii. reversing, vacating, or otherwise amending,
supplementing, or modifying the Interim Order; or

         iv. terminating or modifying the automatic stay for any
creditor other than Origin asserting a lien in the Collateral.

A copy of the order is available at https://bit.ly/3bY3ySj from
PacerMonitor.com.

                About Independence Fuel Systems, LLC

Independence Fuel Systems, LLC owns gasoline stations. The Debtor
sought protection under Chapter 11 of the U.S. Bankruptcy Code
(Bankr. E.D. Tex. Case No. 22-60301) on July 14, 2022. In the
petition signed by Charles Neuberger, chairman of the Board of
Managers, the Debtor disclosed up to $50,000 in assets and up to
$10 million in liabilities.

Judge Joshua P. Searcy oversees the case.

Eric A. Liepins, P.C. is the Debtor's counsel.



INNOVA INDUSTRIAL: Unsecured Creditors Will Get 5% of Claims
------------------------------------------------------------
Innova Industrial Contractor, Inc. filed with the U.S. Bankruptcy
Court for the District of Puerto Rico a Plan of Reorganization
dated August 15, 2022.

Innova is a corporation dedicated to light construction, commercial
cleaning, and maintenance services. Debtor does not own any real
property and leased a commercial property for the operation of its
business. Innova has the designated office at Calle 2 B#49, Paseos
las Vistas, San Juan, PR 00926.

Different catastrophic events, first Hurricanes Irma and Maria and
then the COVID-19 Pandemic, caused a considerable decreased on
Debtor's business. Consequently, Debtor had fallen behind on
certain tax obligations as well as other creditors. This petition
was filed to stay, by and through the Automatic Stay provisions of
the Code, any collection action and to provide for an orderly
restructuring of any debt allegedly owed to the IRS, Hacienda and
the other creditors.  

This Plan provides for three classes of claims and interests: (a)
allowed secured claims, (b) general unsecured claims, and (c)
equity interests. In addition, the Plan provides for the payment to
Priority Unsecured Creditors. General Unsecured Creditors, with
Allowed Claims, will receive a distribution of $2,609.00 equal to a
5.00% distribution on their allowed general unsecured claims. This
Plan also provides for the payment of administrative claims.

The Plan will treat claims as follows:

     * Class one (1) consists of the Allowed Secured Claim of the
Internal Revenue Service ("IRS"). If allowed, the IRS shall have a
Class 1 Allowed Secured Claim equal to $41,500.04. If any, the
Allowed Class 1 Secured Claim shall be satisfied via 20 quarterly
and consecutive payments in the amount of $2,363.76 with one final
payment, due on the 60th month following the day the first payment
is made, equal to any remaining principal balance. Payments shall
commence on the first day of the second month following the
Effective Date of the Plan. Allowed Class 1 Secured Claims shall be
satisfied based on a yearly rate of interest of 5.25%.

     * Class 2 Claim consists of the Allowed General Unsecured, if
any. This Class consists of the prepetition unsecured claims
against the Debtors, to the extent Allowed, if any. It is estimated
that Allowed Class 3 General Unsecured Claims will be in the amount
of $52,174.29. The Allowed Class Two Claims shall be satisfied via
a single lump  sum payment of $2,609.00 to be paid on the first day
of the second month following the Effective Date of the Plan. If
claims are Allowed as filed, the Allowed Class Two Claims will
receive a distribution equal to 5.00% of their Allowed Claims.

The Plan establishes that the Plan will be funded from the proceeds
generated by the operating business of the Debtor, Innova. It
generally consists of the Debtor's funds generated from the
rendered services of light construction, commercial cleaning, and
maintenance. The Debtor will contribute its cash flow to fund the
Plan commencing on the Effective Date of the Plan and continue to
contribute through the date that Holders of Allowed Class 1 and
Class 2 Claims receive the payments specified for in the Plan.

A full-text copy of the Plan of Reorganization dated August 15,
2022, is available at https://bit.ly/3QS0SED from PacerMonitor.com
at no charge.

Debtor's Counsel:

     William Rivera Velez, Esq.
     The Batista Law Group, PSC
     P.O. Box 191059
     San Juan, PR 00919
     Telephone: (787) 620-2856
     Facsimile: (787) 777-1589
     E-mail: wrv@batistasanchez.com

              About Innova Industrial Contractor

Innova Industrial Contractor, Inc. filed a petition under Chapter
11, Subchapter V of the Bankruptcy Code (Bankr. D.P.R. Case No.
22-01375) on May 16, 2022, listing as much as $1 million in both
assets and liabilities. Jose A. Diaz Crespo serves as Subchapter V
trustee.

Jesus E. Batista Sanchez, Esq., at The Batista Law Group, PSC and
Jimenez Vazquez & Associates, PSC serve as the Debtor's legal
counsel and accountant, respectively.


J.C. PENNEY: Taps Stephanie Plaines as New CFO
----------------------------------------------
Ben Unglesbee of RetailDiver reports that J.C. Penney has hired
Stephanie Plaines as its new chief financial officer, effective
Thursday, the company announced.

Plaines most recently was CFO at real estate advisory Jones Lang
LaSalle. She has also held senior executive roles at Starbucks,
Walmart and Ahold Delhaize.

With Bill Wafford’s departure last year from the CFO spot at J.C.
Penney, Brian Cashman had served as interim CFO, according to
Cashman's LinkedIn page.

J.C. Penney has cycled through a cadre of CFOs in the years leading
up to and following its bankruptcy. Wafford joined in 2019, as the
retailer’s financial struggles were mounting.

Chief among those struggles were persistent performance problems
and a hefty debt load, in part a legacy of former CEO Ron
Johnson’s famously failed attempt to reinvent the department
store a decade ago.

While the company began 2020 with what executives said was ample
liquidity, it ran headfirst into a pandemic. Bankruptcy followed,
and the company was able to sell itself in Chapter 11 to two of its
largest landlords, including Simon Property Group, and avoid full
liquidation in the process.

Unlike former CEO Jill Soltau, Wafford initially remained at Penney
after its operations came out of bankruptcy and under new owners.
In fact, Wafford was paid $1 million to stay on per retention
bonuses paid out to top executives just before the company filed
for Chapter 11. (Wafford’s eventual departure for Thrasio came
just months after an early 2021 date tied to the bonus.)

Up until the recent disruptions in the retail market caused by
inflation and other macroeconomic turbulence, Penney has done well,
according to its owners.

"We had an unbelievably strong year last year with Penney and
Sparc," Simon Property Chairman and CEO David Simon told analysts
earlier in August.  "We're still projecting really high EBITDA
growth for these companies.  And even though they're -- obviously,
their consumers [are] being cautious, back-to-school so far is off
to a good start. Our traffic is actually pretty good."

With the operational environment changing, Simon noted that the
retailer's management team and that of Sparc -- a co-venture with
Authentic Brands Group that runs Forever 21, Brooks Brothers, Eddie
Bauer and other retail banners -- are making adjustments.

“They rein in discretionary capital. They watch the overhead.
They really don’t close stores because stores are profitable to
them,” Simon said, according to a Seeking Alpha transcript.
“They watch marketing expenses that — they’re very focused on
the payback when it comes to return on investment.”

Simon added on the conference call that Penney has seen recent
softness in its performance, while also pointing out it had $1.3
billion in liquidity. Simon also noted that his company has net
zero investment left in Penney and Sparc thanks to cash
distributions to Simon Property from those holdings.  "It's all
upside from here," Simon said.

All of that sets the stage for Plaines' arrival as CFO as the
retailer is still searching for its footing in an ever-changing
environment for department stores.

J.C. Penney CEO Marc Rosen said of Plaines that her "deep strengths
in data-forward financial management and track record of value
creation will make her an invaluable advisor throughout the
business as we develop new digital and technology capabilities to
advance our transformation agenda."

                   About J.C. Penney Co. Inc.

J.C. Penney Company, Inc. -- http://www.jcpenney.com/-- is an
apparel and home retailer, offering merchandise from an extensive
portfolio of private, exclusive, and national brands at over 850
stores and online. It sells clothing for women, men, juniors, kids,
and babies.

On May 15, 2020, J.C. Penney entered into a restructuring support
agreement with lenders holding 70% of its first lien debt.  The RSA
contemplates agreed-upon terms for a pre-arranged financial
restructuring plan that is expected to reduce several billion
dollars of indebtedness.  

To implement the plan, J.C. Penney and its affiliates on May 15,
2020, filed voluntary petitions for reorganization under Chapter 11
of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case No.
20-20182). At the time of the filing, J.C. Penney disclosed assets
of between $1 billion and $10 billion and liabilities of the same
range.

Judge David R. Jones oversaw the cases.

The Debtors tapped Kirkland & Ellis and Jackson Walker, LLP as
legal counsel; Katten Muchin Rosenman, LLP as special counsel;
Lazard Freres & Co. LLC as investment banker; AlixPartners, LLP as
restructuring advisor; and KPMG, LLP as tax consultant. Prime Clerk
is the claims agent, maintaining the page
http://cases.primeclerk.com/JCPenney            

The committee of unsecured creditors retained Cole Schotz, P.C.,
and Cooley, LLP.

                          *     *     *

J.C. Penney in November 2020 won approval to sell substantially all
of its retail and operating assets ("OpCo") to a group formed by
landlords Brookfield Asset Management, Inc. and Simon Property
Group and senior lenders through a combination of cash and new term
loan debt.  

Paul, Weiss, Rifkind, Wharton & Garrison LLP was the legal counsel,
and BRG Capital Advisors, LLC, served as financial adviser to Simon
and Brookfield.


JAX PROPERTIES: Taps Bankruptcy Law Center as Counsel
-----------------------------------------------------
Jax Properties, LLC seeks approval from the U.S. Bankruptcy Court
for the Southern District of California to employ Bankruptcy Law
Center, APC to serve as legal counsel in its Chapter 11 case.

The firm's services include:

   a. preparing legal papers and conducting examinations incidental
to the administration of the Debtor's estate;

   b. advising the Debtor regarding its rights, powers, duties and
obligations in the administration of its case, the management of
its financial affairs, and the management of its income and
property;

   c. assisting the Debtor with respect to compliance with the
requirements of the Office of the United States Trustee;

   d. advising the Debtor regarding matters of bankruptcy law,
including its rights and remedies with respect to its assets and
claims of creditors, and communicating and negotiating with such
creditors;

   e. representing the Debtor in connection with all applications,
motions or complaints for adequate protection, sequestration,
relief from stay, appointment of a trustee or examiner and all
other similar matters;

   f. developing the relationship of the status of the Debtor to
the claims of creditors;

   g. assisting the Debtor in the formulation and presentation of a
plan pursuant to Chapter 11 of the Bankruptcy Code;

   h. representing the Debtor in any necessary adversary
proceedings; and

   i. performing all other necessary legal services.

Bankruptcy Law Center will be paid at these rates:

     Attorneys      $475 per hour
     Associates     $375 per hour
     Paralegals     $100 per hour

The firm will also be reimbursed for its out-of-pocket expenses.

The retainer fee is $25,000.

Ahren Tiller, Esq., a partner at Bankruptcy Law Center, disclosed
in a court filing that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Ahren A. Tiller, Esq.
     Brian J. McGoldrick, Esq.
     Bankruptcy Law Center, APC
     1230 Columbia Street, Suite 1100
     San Diego, CA 92101
     Tel: (619) 894-8831
     Fax: (866) 444-7026

                       About Jax Properties

Jax Properties LLC, a property management company in San Diego,
Calif., sought protection under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. S.D. Calif. Case No. 22-01694) on June 29, 2022,
listing $10 million to $50 million in assets and $1 million to $10
million in liabilities. Judge Christopher B. Latham oversees the
case.

Ahren A. Tiller, Esq., and Brian J. McGoldrick, Esq., at Bankruptcy
Law Center, APC are the Debtor's bankruptcy attorneys.


JEFFERSON LA BREA: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: Jefferson La Brea D&J Properties, LLC
        30 E. Santa Clara Street, Suite G
        Arcadia, CA 91006

Business Description: The Debtor is primarily engaged in renting
                      and leasing real estate properties.

Chapter 11 Petition Date: August 17, 2022

Court: United States Bankruptcy Court
       Central District of California

Case No.: 22-14481

Debtor's Counsel: David B. Shemano, Esq.
                  SHEMANOLAW
                  1801 Century Park East, Suite 2500
                  Los Angeles, CA 90067
                  Tel: (310) 492-5033
                  Email: dshemano@shemanolaw.com

Estimated Assets: $10 million to $50 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Jason E. Upchurch as manager.

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/YPEOWYI/Jefferson_La_Brea_DJ_Properties__cacbke-22-14481__0001.0.pdf?mcid=tGE4TAMA


JOHNSON & JOHNSON: Courts Continue Probing Bankruptcy Ploy
----------------------------------------------------------
The Ritz Herald reports that courts continue to scrutinize Johnson
& Johnson's controversial bankruptcy ploy to prevent liability.

Legal experts say the decision by Johnson & Johnson (NYSE: JNJ) to
halt future sales and distribution of talc-based products
worldwide, including its iconic Johnson's Baby Powder, points to
mounting pressure on the company to resolve tens of thousands of
legal claims brought by ovarian cancer and mesothelioma victims.

Numerous scientific studies spanning decades have established the
carcinogenic effects of cosmetic talc, while U.S. and Canadian
governmental regulators have called for enhanced testing techniques
for products containing the mineral, particularly after independent
testing by the U.S. Food & Drug Administration revealed asbestos in
consumer samples of talc-based powders. Meanwhile, internal
corporate documents presented in trials during the past several
years have shown that J&J and its consultants knew of the dangers
of the company's products and took steps to deny or otherwise cover
up those findings to avoid legal liability.

"J&J has finally done the right thing. Throughout decades of
selling talc-based products, the company knew talc could cause
deadly cancers to unsuspecting women and men around the world,"
says Leigh O'Dell of the Beasley Allen Law Firm in Montgomery.
"They stopped sales in North America more than two years ago and
blamed that move on the litigation. The delay in taking this step
is inexcusable.  I can only hope J&J will now do the next right:
take responsibility and adequately compensate the victims they have
needlessly harmed."

The vast majority of the more than 38,000 cases filed by ovarian
cancer victims against J&J were consolidated in multidistrict
litigation in New Jersey federal court, and bellwether trials had
been scheduled to begin last spring. Those proceedings were put on
hold in late 2021 when the company chose to pursue a controversial
"Texas Two-Step" bankruptcy.

That scheme involved creating a new corporate shell company to hold
all talc-related liabilities before taking that entity into
bankruptcy. If successful, the tactic would allow Johnson & Johnson
to avoid paying cancer victims and protect a market capitalization
of approximately a half-trillion dollars. Because of the
bankruptcy, all trials in the MDL and others filed in state courts
are currently suspended.

The two-step move has raised eyebrows in Congress, where
representatives have begun discussing potential changes to the
bankruptcy laws that would prevent this sort of consumer harm in
future cases.

"The potential loss of a jury trial is not a mere by-product of the
filing; the sole purpose of the bankruptcy is to remove tort
claimants from the tort system and strip them of their rights
against extraordinarily wealthy and highly solvent entities," wrote
Erwin Chemerinsky, Dean of the University of California’s
Berkeley School of Law, in a brief filed with the bankruptcy
court.

"The Debtor is a newly created shell, with no business to
restructure, no operations to rehabilitate, and no customers or
genuine employees to serve. In short, the Debtor has no
reorganizational purpose," he noted in the brief, one of many filed
by constitutional scholars raising concerns about the "Two-Step."

The propriety of the bankruptcy and accompanying halt to litigation
imposed by the bankruptcy court will be reviewed by the U.S. Court
of Appeals for the Third Circuit in a hearing Sept. 19, 2022.

                     About Johnson & Johnson

Johnson & Johnson is an American multinational corporation founded
in 1886 that develops medical devices, pharmaceuticals, and
consumer packaged goods. It is the world's largest and most broadly
based healthcare company.

Johnson & Johnson is headquartered in New Brunswick, New Jersey,
the consumer division being located in Skillman, New Jersey. The
corporation includes some 250 subsidiary companies with operations
in 60 countries and products sold in over 175 countries.

The corporation had worldwide sales of $82.6 billion in 2020.

                       About LTL Management

LTL Management, LLC, is a subsidiary of Johnson & Johnson (J&J),
which was formed to manage and defend thousands of talc-related
claims and oversee the operations of Royalty A&M.  Royalty A&M owns
a portfolio of royalty revenue streams, including royalty revenue
streams based on third-party sales of LACTAID, MYLANTA/MYLICON and
ROGAINE products.

LTL Management filed a petition for Chapter 11 protection (Bankr.
W.D.N.C. Case No. 21-30589) on Oct. 14, 2021.  The case was
transferred to New Jersey (Bankr. D.N.J. Case No. 21-30589) on Nov.
16, 2021. The Hon. Michael B. Kaplan is the case judge. At the time
of the filing, the Debtor was estimated to have $1 billion to $10
billion in both assets and liabilities.

The Debtor tapped Jones Day and Rayburn Cooper & Durham, P.A., as
bankruptcy counsel; King & Spalding, LLP and Shook, Hardy & Bacon
LLP as special counsel; McCarter & English, LLP as litigation
consultant; Bates White, LLC as financial consultant; and
AlixPartners, LLP as restructuring advisor. Epiq Corporate
Restructuring, LLC, is the claims agent.

An official committee of talc claimants was formed in the Debtor's
Chapter 11 case on Nov. 9, 2021. On Dec. 24, 2021, the U.S. Trustee
for Regions 3 and 9 reconstituted the talc claimants' committee and
appointed two separate committees: (i) the official committee of
talc claimants I, which represents ovarian cancer claimants, and
(ii) the official committee of talc claimants II, which represents
mesothelioma claimants.

The official committee of talc claimants I tapped Genova Burns LLC,
Brown Rudnick LLP, Otterbourg PC and Parkins Lee & Rubio LLP as its
legal counsel. Meanwhile, the official committee of talc claimants
II is represented by the law firms of Cooley LLP, Bailey Glasser
LLP, Waldrep Wall Babcock & Bailey PLLC, Massey & Gail LLP, and
Sherman Silverstein Kohl Rose & Podolsky P.A.

A full-text copy of the Bloomberg Article is available at

https://news.bloomberglaw.com/bankruptcy-law/j-j-talc-claimants-seek-to-write-their-own-compensation-plan

                 


KLX ENERGY: Posts $7.5 Million Net Loss for Quarter Ended June 30
-----------------------------------------------------------------
KLX Energy Services Holdings, Inc. filed with the Securities and
Exchange Commission its Quarterly Report on Form 10-Q reporting a
net loss of $7.5 million on $184.4 million of revenues for the
three months ended June 30, 2022, compared to a net loss of $25
million on $111.9 million of revenues for the three months ended
July 31, 2021.

For the six months ended June 30, 2022, the Company reported a net
loss of $27.4 million on $336.7 million of revenues compared to a
net loss of $61.8 million on $202.7 million of revenues for the six
months ended July 31, 2021.

As of June 30, 2022, the Company had $415.4 million in total
assets, $143.9 million in total current liabilities, $295.4 million
in long-term debt, $28.7 million in long-term operating lease
obligations, $16.3 million in long-term finance lease obligations,
$400,000 in other non-current liabilities, and a total
stockholders' deficit of $69.3 million.

Total debt outstanding as of June 30, 2022 was $295.4 million,
compared to $274.8 million as of Dec. 31, 2021.  The increase in
total debt was driven by additional borrowing on the Company's ABL
Facility as well as amortization of debt issuance costs.  As of
June 30, 2022, cash and cash equivalents totaled $31.5 million.
Total liquidity as of June 30, 2022 was $70.7 million and available
liquidity was $56.6 million, including net availability of $25.1
million available on the June 30, 2022 ABL Facility Borrowing Base
Certificate, net of $14.1 million FCCR holdback.  The Senior
Secured Notes bear interest at an annual rate of 11.5%, payable
semi-annually in arrears on May 1st and November 1st.  Accrued
interest as of June 30, 2022 was $4.8 million for the Senior
Secured Notes and $0.5 million related to the ABL Facility.  The
Company has continued discussions with lenders around various
refinancing options, including amending and extending its current
ABL Facility. Net working capital as of June 30, 2022 was $51.3
million, which was up 12% from March 31, 2022 levels.  The increase
in net working capital was largely driven by the 21% increase in
revenue, although the Company was able to offset the investment by
reducing days sales outstanding by 4% to approximately 60 days and
at the same time modestly increasing days payable outstanding.

Chris Baker, president and chief executive officer of KLXE, stated,
"We are excited about our second quarter results and the overall
strength of the oilfield service market despite the volatility in
commodity prices.  I am very proud of our team and we are now
beginning to see the fruits of our labor over the last 24 months.
Driven by the continued improvement in pricing and customer
activity, we expect third quarter sequential revenue growth of 9%
to 13% and third quarter Adjusted EBITDA margin of 10% to 12%.  We
are now approaching our goal of returning KLXE to positive free
cash flow and believe we may achieve this goal in the second half
of 2022."

A full-text copy of the Form 10-Q is available for free at:

https://www.sec.gov/ix?doc=/Archives/edgar/data/1738827/000173882722000022/klxe-20220630.htm

                         About KLX Energy

Headquartered in Wellington, Florida, KLX Energy Services Holdings,
Inc. is a provider of diversified oilfield services to leading
onshore oil and natural gas exploration and production companies
operating in both conventional and unconventional plays in all of
the active major basins throughout the United States.  The Company
delivers mission critical oilfield services focused on drilling,
completion, intervention and production activities for the most
technically demanding wells from over 60 service facilities located
in the United States.  KLXE's complementary suite of proprietary
products and specialized services is supported by technically
skilled personnel and a broad portfolio of innovative in-house
research and development, manufacturing, repair and maintenance
capabilities.

KLX Energy reported a net loss of $93.8 million for the 11-month
transition period ended Dec. 31, 2021, compared to a net loss of
$332.2 million for the fiscal year ended Jan. 31, 2021.  As of
March 31, 2022, the Company had $379.5 million in total assets,
$131.1 million in total current liabilities, $275.1 million in
long-term debt, $29 million in long-term operating lease
obligations, $11.1 million in long-term finance lease obligations,
$400,000 million in other non-current liabilities, and a total
stockholders' deficit of $67.2 million.

                             *   *   *

As reported by the TCR on Feb. 23, 2021, Moody's Investors Service
completed a periodic review of the ratings of KLX Energy Services
Holdings, Inc. and other ratings that are associated with the same
analytical unit.  KLX Energy Services Holdings, Inc.'s (KLXE) Caa1
Corporate Family Rating reflects the company's relatively small
scale while providing a range of well completion, intervention,
drilling and production services in a highly cyclical industry.

As reported by the TCR on March 31, 2022, S&P Global Ratings
affirmed its 'CCC+' issuer credit rating on KLX Energy Services
Holdings Inc.  S&P said "Our 'CCC+' rating continues to reflect
KLXE's unsustainable credit metrics."


KNOW LABS: Reports $3 Million Net Loss in Third Quarter
-------------------------------------------------------
Know Labs, Inc. filed with the Securities and Exchange Commission
its Quarterly Report on Form 10-Q reporting a net loss of $3
million on zero revenue for the three months ended June 30, 2022,
compared to a net loss of $7.09 million on zero revenue for the
three months ended June 30, 2021.

For the nine months ended June 30, 2022, the Company reported a net
loss of $14.50 million on $4.36 million of revenue compared to a
net loss of $17.76 million on zero revenue for the same period in
2021.

As of June 30, 2022, the Company had $9.63 million in total assets,
$4.61 million in total current liabilities, $97,261 in total
non-current liabilities, and $4.92 million in total stockholders'
equity.

The Company has cash and cash equivalents of $8,351,945 and net
working capital of $6,042,208 (exclusive of convertible notes
payable) as of June 30, 2022.  The Company anticipates that it will
record losses from operations for the foreseeable future.  The
Company believes that it has enough available cash to operate until
June 30, 2023.  As of June 30, 2022, the Company's accumulated
deficit was $95,827,137. The Company has had limited capital
resources and intends to seek additional cash via equity and debt
offerings.

A full-text copy of the Form 10-Q is available for free at:

https://www.sec.gov/ix?doc=/Archives/edgar/data/1074828/000165495422011201/knwn_10q.htm

                          About Know Labs

Know Labs, Inc., was incorporated under the laws of the State of
Nevada in 1998.  Since 2007, the Company has been focused primarily
on research and development of proprietary technologies which can
be used to authenticate and diagnose a wide variety of organic and
non-organic substances and materials.  The Company's Common Stock
trades on the OTCQB Exchange under the symbol "KNWN."

Know Labs reported a net loss of $25.36 million for the year ended
Sept. 30, 2021, a net loss of $13.56 million for the year ended
Sept. 30, 2020, and a net loss of $7.61 million for the year ended
Dec. 31, 2019.  As of March 31, 2022, the Company had $12.66
million in total assets, $5.36 million in total current
liabilities, $570,435 in total non-current liabilities, and $6.73
million in total stockholders' equity.


KW EXCAVATION: Wins Cash Collateral Access
------------------------------------------
The U.S. Bankruptcy Court for the District of Utah authorized KW
Excavation, Inc. to use cash collateral until further order of the
court.

As previously reported by the Troubled Company Reporter, the Debtor
requires the use of cash collateral, including on an immediate,
interim basis, in order to preserve the value of estate assets and
accomplish its strategic objectives to maximize the value of the
estate. Currently, the Debtor lacks sufficient unencumbered funds
with which to operate its business on an ongoing basis.

The entities with known interest in the cash collateral are
Funderslink and Platinum Rapid Funding Group, which have been
listed by the Debtor on its list of creditors.  The Debtor intends
to use the cash collateral to pay post-petition expenses incurred
in the ordinary course of business and to pay any pre-petition
expenses the Court permits to be paid.

According to the Debtor's records, Funderslink's claim as of the
lien date was $165,000 and Platinum's was $298,000.

According to the information available to the Debtor, any security
interest Platinum has is unperfected.

A copy of the order is available at https://bit.ly/3SQSEi0 from
PacerMonitor.com.

                    About KW Excavation, Inc.

KW Excavation, Inc. provides utility system construction services.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Utah Case No. 22-21925) on May 25, 2022.
In the petition signed by Janeice Whitaker, president/owner, the
Debtor disclosed up to $100,000 in assets and up to $10 million in
liabilities.

Judge William T. Thurman oversees the case.

Knufe Rife, Esq., at Rife Law Office is the Debtor's counsel.




LANGSTON CONSTRUCTION: Seeks Cash Collateral Access
---------------------------------------------------
Langston Construction, Inc. asks the U.S. Bankruptcy Court for the
Southern District of California for authority to use cash
collateral on a final basis to pay any and all expenses in the
ordinary course of its business and according to a budget approved
by the Court.

Small Business Financial Solutions, also known as Rapid Finance, is
the only creditor with an interest in the cash collateral. Rapid
Finance is listed on Schedule D with a claim amount of $160,761.

If the Debtor were liquidated (leaving aside the $1,599,473 claim)
based on the Petition, a Chapter 7 trustee would realize roughly
$59,786 in assets, deduct their commission of$6239 and distribute
the balance, $53,547 to Rapid Finance and the balance of the
creditors would receive nothing.

As noted in the Declaration of Christopher S. Langston, the
President of Langston Construction, Inc., the company will return
to profitability in September 2022. A six-month income and expense
projection is attached to the Langston Declaration. Mr. Langston
anticipates that over six months, after the payment of all
expenses, the company will realize $95,023 in profits for an
average of $15,837 per month. The Subchapter V Reorganization Plan
runs anywhere from 36 to 60 months, by statute. Assuming a 50-month
plan, that would result in a total plan payment amount of
$791,873.

As noted on the Declaration of Steven E. Cowen, Esq., if the
Debtor's six months average income projections are correct and the
Court approves a 50-month plan, that would result in the
following:

     a. Administrative expenses of $75,000 would be paid in full in
months 1 through 5.

     b. Priority debt to the IRS/EDD/Employees of $475,591 would be
paid in full in months six through 35, (well within the 60-month
requirement set by statute).

     c. Rapid Finance's secured debt of $59,786 would be paid in
full in months 36 to 40.

     d. Unsecured creditors would receive a $0.21 on the dollar
dividend for a total payout of hundred $158,370.

In short, creditors, including Rapid Finance, will receive more
through a reorganization Plan than they would if the company was
liquidated. The owners of the company are also very motivated to
make this Reorganization Plan work since $475,591 of the debt is
priority and is a personal responsibility of the owners. Without
the company and its ability to generate significant amounts of
profits, Mr. and Mrs.Langston would be responsible for these debts
from their personal income and assets since the bulk of it is
payroll taxes owed to the state and federal governments. They
recognize the seriousness of their situation and that the best path
forward is the company surviving and returning to profitability.

To protect against deterioration or diminution in the value of
Rapid Finances interest in the cash collateral, Rapid Finance will
be granted valid, enforceable, fully perfected, and unavoidable
replacement liens in favor of Rapid Finance on all of Debtor's
assets or interests in assets acquired on or after the petition
date of the same type and priority that Rapid Finance had in such
assets as of the petition date.

A copy of the motion is available at https://bit.ly/3Ce9SzX from
PacerMonitor.com.

                   About Langston Construction

Langston Construction Inc. is a construction company that provides
superior design-build, construction management and general
contracting services.

Langston Construction filed a petition for relief under Subchapter
V of Chapter 11 of the Bankruptcy Code (Bankr. S.D. Cal. Case No.
22-02113) on August 12, 2022. In the petition filed by Christopher
Langston, as president, the Debtor reported assets between $1
million and $10 million and estimated liabilities between $1
million and $10 million.

Jean Goddard has been appointed as Subchapter V trustee.

Steven E. Cowen, Esq., at S.E. Cowen Law, is the Debtor's counsel.



LUMEN TECHNOLOGIES: Fitch Affirms 'BB' IDR, Outlook Stable
----------------------------------------------------------
Fitch Ratings has affirmed the 'BB' Issuer Default Ratings for
Lumen Technologies, Inc. and its subsidiaries, except for Embarq
Corporation. Fitch has maintained the 'BB' IDR and 'BB'/'RR4' issue
rating for Embarq Corp. on Rating Watch Negative. Lumen is expected
to complete the sale of certain local exchange assets including
Embarq, to affiliates of Apollo Global Management, Inc. (Apollo
Funds).

This affirmation primarily reflects the expectation for stable
gross leverage (total debt/operating EBITDA) in the mid- to high-3x
range in the near term while the company is in an investment cycle,
and longer-term expectations for reductions in leverage as the
company progresses to its net leverage target of 2.75x to 3.25x.
Concerns include the secular pressure on the company's business
lines, which are expected to be offset over time by revenues from
its fiber related growth investments.

KEY RATING DRIVERS

Key Competitor in Business Services: Lumen operates in an industry
where scale is a key factor, and is a top-three competitor in the
business services market. AT&T Inc. is the largest in this segment,
and Lumen's revenue base is similar in size to the comparable
operations of Verizon Communications Inc. The company's network
capabilities, in particular a strong metropolitan network, and a
broad product and service portfolio emphasizing IP-based
infrastructure and managed services, provide the company with a
solid base to grow enterprise segment revenue.

Debt Repayment from Asset Sales: Lumen announced two asset sales in
July and August 2021 with a total value of approximately $10.2
billion, including $1.4 billion of assumed Embarq debt. Fitch
believes the near-term impact is neutral to its credit profile
between debt repayment and the divested EBITDA. In the longer term,
the sales will enable greater investment in the enterprise business
and fiber to the home, which in turn will strengthen the company's
competitive position and better position the company for revenue
and cash flow growth.

In total, the assets to be divested generated approximately $1.7
billion of estimated 2020 adjusted EBITDA and incurred
approximately $600 million of capex. The proceeds and debt relief
will provide sufficient flexibility to maintain gross leverage
around the mid- to high-3x level.

In the first transaction, Lumen's Latin America business was
acquired by Stonepeak Partners for approximately $2.7 billion, and
reflects a valuation of approximately 9x 2020 estimated adjusted
EBITDA (as defined by Lumen). Lumen will continue to have a
strategic relationship under reciprocal reselling and network
arrangements with the company. The transaction was completed on
Aug. 1, 2022.

In the second transaction, Lumen will sell the incumbent local
exchange (ILEC) operations in 20 states to Apollo Funds for $7.5
billion (including Embarq debt of $1.4 billion), at a 5.5x multiple
of estimated adjusted 2020 EBITDA (as defined by Lumen). Lumen will
retain its ILEC operations in 16 states, as well as its national
long-haul fiber and competitive local exchange carrier (CLEC)
networks in the markets to be sold. The transaction is expected to
close in the second half of 2022, following customary regulatory
approvals.

Stable Leverage Expectations: Lumen has stated that its
post-transaction leverage will remain relatively stable in the
mid-to high-3x range over the near term, but has maintained its
2.75x to 3.25x net leverage target for the long term and will work
to those levels following a higher investment cycle in the
interim.

Secular Challenges Facing Telecoms: In Fitch's view, Lumen
continues to face secular challenges similar to other wireline
operators. The company's plans more aggressively address these
challenges through increased investment in its enterprise and
consumer fiber to the home businesses following the asset sales.
The company faces execution risk with regard to this strategy, but
Fitch believes the investments have the potential to stabilize and
eventually grow revenues.

Parent-Subsidiary Relationship: Fitch equalizes the IDR of Lumen
and Qwest Corporation and Level 3 Parent (the guarantor of its
subsidiary Level 3 Financing's debt), based on a stronger
subsidiary/weaker parent approach, based on open legal ring-fencing
and open access and control.

DERIVATION SUMMARY

Lumen has a relatively strong competitive position based on the
scale and size of its wireline operations in the enterprise/
business services market. In this market, Lumen has a moderately
smaller revenue position than AT&T Inc. (BBB+/Stable) and is
similar in size to Verizon Communications Inc. (A-/Stable). All
three companies have an advantage with national or multinational
companies, given extensive footprints in the U.S. and abroad. Lumen
also has a larger enterprise business that notably differentiates
it from other wireline operators, such as Windstream Services, LLC
(B/Stable) and Frontier Communications Corporation (BB-/Stable).

AT&T and Verizon maintain lower financial leverage, generate higher
EBITDA and FCF, and have wireless offerings providing more service
diversification compared with Lumen. FCF improved at Lumen due to
the dividend reduction and cost synergies.

Lumen has lower exposure to the residential market than wireline
operators Frontier and Windstream. The residential market held up
relatively well during the coronavirus pandemic but continues to
face secular challenges. Incumbent wireline operators face
competition for residential broadband customers from cable
operators. Lumen and other wireline operators are investing more
aggressively in fiber in response to these threats.

KEY ASSUMPTIONS

Fitch's Key Assumptions Within the Rating Case for the Issuer
Include:

-- Fitch assumes revenues will decline in the 10%-12% range in
    2022, primarily due to asset sales but also due to the
    expiration of the CAF II funding. Revenues further decline in
    2023 due to the full year effect of the 2022 asset sales;

-- EBITDA margins are expected to be around 39%-40% in 2022, then

    decline about 300 bps in 2023 and beyond;

-- Fitch expects 2022 capex to be toward the middle of company
    guidance of $3.2 billion-$3.8 billion.

-- Fitch assumes an increase in capital intensity to the low 20%
    range as the company increases spending on fiber to pass more
    locations and incurs success-based capex;

-- Fitch assumes the company's dividend approximates just over $1

    billion annually.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

-- Gross leverage, defined as total debt with equity
    credit/operating EBITDA, remaining at or below 3.0x, while
    consistently generating positive FCF margins in the mid-
    single-digits;

-- Demonstrating consistent EBITDA and FCF growth.

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

-- A weakening of Lumen's operating results, including
    deteriorating margins and consistent mid-single-digit or
    greater revenue erosion brought on by difficult economic
    conditions or competitive pressures the company is unable to
    offset through cost reductions;

-- Discretionary management decisions, including but not limited
    to execution of M&A activity that increases gross leverage
    beyond 4.5x, in the absence of a credible deleveraging plan.

LIQUIDITY AND DEBT STRUCTURE

Strong Liquidity: Lumen's cash and cash equivalents totaled $360
million at June 30, 2022. Total debt as of June 30, 2022 was
$29.408 billion before finance leases, unamortized discounts, debt
issuance costs and other adjustments, down from $30.271 billion at
YE 2021. Both debt totals include Embarq debt, which is reported
under liabilities held for sale.

The credit agreement was amended and restated in January 2020. The
$2.2 billion senior secured revolving credit facility had $800
million outstanding as of June 30, 2022. Lumen's secured credit
facility benefits from secured guarantees by Qwest Communications
International Inc.; Qwest Services Corporation; and CenturyTel
Holdings, Inc.

A stock pledge is provided by Wildcat HoldCo LLC, the parent of
Level 3 Parent, LLC, to the Lumen credit facility. The credit
facility is guaranteed on an unsecured basis by Embarq Corporation
and Qwest Capital Funding, Inc. The largest regulated subsidiary,
Qwest Corporation, does not guarantee Lumen's secured facility, nor
does Level 3 Parent.

The Lumen senior secured notes are guaranteed by the same
subsidiaries that guarantee the senior secured credit facilities
and will be secured by the same collateral.

The secured revolving credit facility and term loan A limit Lumen's
gross debt/EBITDA to no more than 4.75x. The current credit
agreement requires cash interest coverage to be no less than 2.0x.
The company is subject to an excess cash flow sweep of 50%, with
step downs to 25% and 0%, at total leverage of 3.5x and 3.0x,
respectively. The excess cash flow calculation provides credit for
voluntary prepayments and certain other investments.

Fitch estimates 2022 FCF, or cash flow from operations less capex
and dividends, will be just under $1 billion. There are no
long-term debt maturities in the remainder of 2022, and maturities,
excluding term loan amortizations, total approximately $824 million
in 2023.

ISSUER PROFILE

Lumen Technologies, Inc. merged with Level 3 Communications, Inc.
in late 2017, creating one of the largest wireline providers in the
U.S. with a strong presence in the enterprise market, including
multinational corporations, large enterprises, small and
medium-sized businesses, governments and other carriers on a
wholesale basis.

RATING ACTIONS

ENTITY/DEBT      RATING                  RECOVERY   PRIOR
-----------      ------                  --------   -----
Level 3
Parent, LLC       LT IDR  BB   Affirmed              BB

Embarq            
Florida, Inc.     LT IDR  BB   Affirmed              BB

senior secured   LT      BBB- Affirmed   RR1        BBB-

Level 3           
Financing, Inc.   LT IDR  BB   Affirmed              BB

senior secured   LT      BBB- Affirmed   RR1        BBB-

senior unsecured LT      BB   Affirmed   RR4        BB

Qwest             
Communications
International
Inc.              LT      BB   Affirmed              BB

Qwest Capital     
Funding, Inc.

senior unsecured LT      BB   Affirmed   RR4        BB

Embarq            LT IDR  BB                         BB
Corporation       Rating Watch Maintained

senior unsecured LT      BB   Affirmed   RR4        BB
                  Rating Watch Maintained

Lumen             
Technologies,
Inc.              LT IDR  BB   Affirmed              BB

senior unsecured LT      BB   Affirmed   RR4        BB

senior secured   LT      BB+  Affirmed   RR2        BB+

Qwest Services    
Corporation       LT IDR  BB   Affirmed              BB

Qwest Corporation LT IDR  BB   Affirmed              BB

senior unsecured LT      BB   Affirmed   RR4        BB


MASTEN SPACE SYSTEMS: U.S. Trustee Appoints Creditors' Committee
----------------------------------------------------------------
The U.S. Trustee for Region 3 on Aug. 16 appointed an official
committee to represent unsecured creditors in the Chapter 11 case
of Masten Space Systems, Inc.

The committee members are:

     1. Space Exploration Technologies Corp.
        Attention: Christopher Cardaci
        115 F Street NW, Suite
        475, Washington, D.C. 20004
        Phone: 202-649-2716
        Email: chriscardaci@spacex.com

     2. NuSpace, Inc.
        Attention: Andrew Bushell
        4401 Donald Douglas Drive
        Long Beach CA 90808
        Phone: 312-771-0676
        Email: abushell@cstonecapital.com

     3. Space Micro, Inc.
        Attention: David Strobel
        15378 Avenue of Science
        San Diego, CA 92128
        Phone: 858-332-0700
        Email: dstrobel@spacemicro.com

     4. Agile Space Industries
        Attention: Andrew Thompson
        1514 Main Avenue
        Durango, CO 81301
        Phone: 931-436-3164,            
        Email: andrew.thompson@agilespaceindustries.com

     5. P3 Technologies
        Attention: Phillip Pelfrey
        840 Jupiter Park Drive, Suite 110
        Jupiter, FL 33458
        Phone: 5561-567-8495
        Email: phil.pelfrey@p3-tech.com
  
Official creditors' committees serve as fiduciaries to the general
population of creditors they represent.  They may investigate the
debtor's business and financial affairs. Committees have the right
to employ legal counsel, accountants and financial advisors at a
debtor's expense.

                     About Masten Space Systems

Masten Space Systems Inc. -- https://www.masten.aero -- is a space
infrastructure company enabling sustainable access and utilization
of the Moon, Mars, and beyond.

On July 29, 2022, Masten Space Systems Inc. filed for chapter 11
protection (Bankr. D. Del. Case No. 22-10657).  In the petition
filed by David Masten, as president and chief technology officer,
the Debtor reported assets and liabilities between $10 million and
$50 million each.

Morris James LLP, is the Debtor's counsel.  Alston & Bird LLP is
the Debtor's corporate counsel.  Gavin/Solmonese LLC is the
financial advisor.


MERITOR INC: Fitch Withdraws 'BB-' IDR Following Cummins Deal
-------------------------------------------------------------
Fitch Ratings has withdrawn Meritor, Inc.'s Long-Term Issuer
Default Rating (IDR) of 'BB-'/Rating Watch Positive (RWP). It has
also withdrawn Meritor's senior secured ABL revolving credit
facility rating of 'BB+'/'RR1'/RWP, its secured term loan rating of
'BB+'/'RR2'/RWP and its senior unsecured rating of
'BB-'/'RR4'/RWP.

Fitch is withdrawing the ratings of Meritor as Meritor has
undergone a reorganization following the closing of its acquisition
by Cummins Inc. (not rated). Meritor is now a wholly owned
subsidiary of Cummins. Accordingly, Fitch Ratings will no longer
provide Ratings or analytical coverage for Meritor.

KEY RATING DRIVERS

Key rating drivers are not applicable as the ratings have been
withdrawn.

RATING SENSITIVITIES

Rating sensitivities are not applicable as the ratings have been
withdrawn.

ISSUER PROFILE

Meritor is a capital goods supplier focused on the commercial truck
and industrial equipment end-markets. The company manufactures
components for original equipment manufacturers and the
aftermarket.

RATING ACTIONS

ENTITY/DEBT       RATING                      PRIOR
-----------       ------                      -----
Meritor, Inc.      LT IDR  WD  Withdrawn       BB-

senior unsecured  LT      WD  Withdrawn       BB-

senior secured    LT      WD  Withdrawn       BB+

senior secured    LT      WD  Withdrawn       BB+


MGA MANAGEMENT: Seeks Cash Collateral Access
--------------------------------------------
MGAE, Inc. asks the U.S. Bankruptcy Court for the District of
Connecticut for authority to use cash collateral on an interim
basis and provide adequate protection to its secured creditors.

The Debtor requires the use of cash collateral to maintain and
operate its business. The Debtor anticipated it will require
approximately $34,466 of cash collateral for the 30-day period from
September 1 through 30, 2022.

The Debtor is obligated to a promissory note to Security Plus
Federal Credit Union dated November 5, 2019, in the amount of
$1,600,000.

The Debtor says Security Plus possesses valid duly perfected
security interest in, inter alia, the rents generated from the
Debtor's real property, and all funds received by the Debtor
constitute cash collateral within the purview of Section 363 of the
Bankruptcy Code.

As adequate protection, the Debtor proposes to grant to Security
Plus replacement liens on all accounts receivable generated by the
business after the bankruptcy filing.

The use of cash collateral will cease on (i) the filing of a
challenge to Security Plus' pre-petition lien or the lender's
pre-petition claim based on the lender's pre-petition claim; (ii)
entry of an order granting relief from the automatic stay other
than an order granting relief from the stay with respect to
material assets; (iii) the grant of a change of venue with respect
to the case or any adversary proceeding; (iv) management changes or
the departure, from the Debtor, of any identified employees; (v)
the expiration of a specified time for filing a plan; or (vi) the
making of a motion by a party in interest seeking any relief (as
distinct from an order granting such relief).

A copy of the motion is available at https://bit.ly/3bULmcj from
PacerMonitor.com.

                     About MGA Management

MGA Management, LLC, is the fee simple owner of residential
apartment buildings in Hartford, Connecticut, having a current
value of $3 million.

MGA Management filed a petition for relief under Subchapter V of
Chapter 11 of the Bankruptcy Code (Bankr. D. Conn. Case No.
22-20315) on May 9, 2022. In the petition signed by Michael Ancona,
member, the Debtor listed $3,041,461 in total assets and $1,452,000
in total liabilities.

Judge James J. Tancredi oversees the case.

Joseph J. D'Agostino, Jr., Esq., serves as the Debtor's counsel.



MILLENNIUM SERVICES: Wins Cash Collateral Access Thru Sept 1
------------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida
authorized Millennium Services of Florida, LLC to use cash
collateral in accordance with the budget on an interim basis
through the next hearing on the Motion set for September 1, 2022 at
2 p.m.

The Debtor is permitted to use cash collateral to pay: (a) amounts
expressly authorized by the Court, including rent; and (b) the
current and necessary expenses as determined by the Trustee or his
designee.

The order will immediately terminate in the event the Trustee is
removed and the Debtor reinstated as a debtor in possession
pursuant to Bankruptcy Code Section 1185.

As adequate protection, Assurance Mezzanine Fund III, L.P. will
have a perfected post-petition lien against cash collateral to the
same extent and with the same validity and priority as their
respective prepetition liens, without the need to file or execute
any documents as may otherwise be required under applicable
non-bankruptcy law.

A copy of the order is available at https://bit.ly/3STifXK from
PacerMonitor.com.

               About Millennium Services of Florida

Millennium Services of Florida, LLC --
http://www.millenniumservicesfl.com/-- provides residential and
commercial landscaping services.

Millennium Services of Florida filed a petition for relief under
Subchapter V of Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla.
Case No. 22-02173) on June 20, 2022, listing up to $1 million in
assets and up to $10 million in liabilities. Robert Altman is the
Subchapter V trustee.

Judge Tiffany P. Geyer oversees the case.

Kenneth D. Herron, Jr., Esq., at Herron Hill Law Group, PLLC is the
Debtor's counsel.



MONOGRAM FOOD: S&P Downgrades ICR to 'B-', Outlook Stable
---------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on U.S.-based
Monogram Food Solutions LLC to 'B-' from 'B'.

S&P said, "At the same time, we lowered our issue-level rating on
the company's senior secured facilities to 'B-' from 'B'. The
recovery rating remains '3', reflecting our expectation for
meaningful (50%-70%; rounded estimate: 60%) recovery in the event
of a payment default.

"The stable outlook reflects our view that although higher input
costs and supply chain constraints should pressure earnings over
the next year, the company will maintain a sustainable capital
structure and adequate liquidity to support its operations and
investment needs."

The downgrade reflects weaker-than-expected operating results
primarily due to staffing challenges and shortages in key
ingredients and packaging materials. Monogram's EBITDA came in
below our expectations as the company battled labor constraints
earlier during the year and more recently, shortages in packaging
materials and key ingredients such as starch. S&P understands that
the labor constraints have mostly been resolved, with staffing
levels improving to about 95% capacity in its production
facilities. However, packing material and ingredient shortages are
expected to persist over the rest of the year, resulting in margins
remaining pressured. Demand for Monogram's products remains
healthy, driven by continued volume growth, the integration of
Quality Food Products, and new business wins. Except for the
higher-priced jerky products (sold in convenience stores and gas
stations), which are experiencing softer demand as consumers have
less to spend at the pump, the rest of the company's segments
continue to grow, particularly in the frozen grocery, bacon, and
bakery product segments.

S&P sid, "Except for its large private label business, which has
limited short-term pricing flexibility, we expect input cost
inflation to mostly be passed through to customers, but with a lag,
given that about 80% of Monogram's sales provide meaningful input
cost protection (via true-up, banded, and cost-plus pass-through
mechanisms) on labor; transportation; and key ingredients such as
batter, pork, vegetables, cheese, poultry, and beef. However,
Monogram's ability to pass through increased costs could become
more difficult as high food and energy prices erode consumers'
purchasing power. However, we expect the company's long-standing
relationships with a financially solid customer base will help
offset some of the margin pressures.

"We expect adjusted leverage of about 7.7x at the end of 2022 and
improving to about 7x in 2023, but continued supply chain issues
could slow the deleveraging path. We expect the company to continue
to expand its topline in 2022 and 2023, driven by volume growth in
most of its segments supported by capacity expansions. Buoyed by
strong demand, Monogram continues to invest in new capacity and
warehousing facilities, with the company recently increasing its
capital expenditure (capex) budget to about $80 million in 2022 and
$50 million in 2023. The company expects volumes to be fully
contracted when the facilities start up and bring in run-rate
incremental revenue upwards of about $300 million, but we typically
see the profit ramp-up period for such projects as being more
gradual. Nevertheless, we expect adjusted EBITDA to grow to about
$100 million in 2023 from about $80 million in 2021. Our rating
action recognizes that prolonged supply chain issues could slow the
deleveraging path if the company cannot successfully ramp up
production to its full potential.

"We anticipate FOCF will become strained in 2022 and 2023. As the
company ramps up production and expands its facilities, we expect
working capital investment and capex will remain elevated,
resulting in negative FOCF. The company expects to fund a major
portion of its capex via equipment financing facilities that, along
with substantial availability on its $100 million revolver, should
be sufficient to plug the cash outflow and support a liquidity
assessment of adequate.

"The stable outlook reflects our view that, although higher input
costs and supply chain constraints will limit EBITDA growth over
the next year, the company will nevertheless maintain a sustainable
capital structure and adequate liquidity to support its operations
and investment needs. We assume Monogram will prioritize credit
ratio improvement and gradually reduce adjusted leverage to about
7x in 2023."

S&P could raise its ratings if Monogram's operating performance
improved such that adjusted leverage improved to below 7x. This
could happen if:

-- The company successfully passed on price increases to its
customers, and

-- Labor and supply chain challenges eased.

Although unlikely over the next 12 months, S&P could lower its
ratings if the company's operating performance fell short of its
expectations, including weaker-than-expected profitability and cash
flows, resulting in an unsustainable capital structure. This could
occur if Monogram:

-- Were unable to pass on price increases or otherwise mitigate
input cost increases or if supply chain bottlenecks were worse than
S&P expected;

-- Experienced delays in completing facility expansions or failed
to adequately fill new capacity due to lower-than expected demand;

-- Lost significant business due to customers bringing
manufacturing back in-house; or

-- Adopted a more aggressive financial policy, potentially due to
additional debt-financed expansion or acquisition activity.

ESG credit indicators: E-2; S-2; G-3



MONSTER INVESTMENTS: Court Directs Appointment of Examiner
----------------------------------------------------------
Judge Lori S. Simpson of the U.S. Bankruptcy Court for the District
of Maryland directed the United States Trustee to appoint an
examiner for Monster Investments, Inc.

One of the most significant issues in the Debtor's case is the
Debtor's real estate transactions that were closed by Avance Title,
LLC during the period from 2018 through the filing of the Debtor's
bankruptcy petition, and questions related to those transactions
regarding (1) whether Avance properly carried out the terms of
those transactions, (2) whether Avance properly recorded documents
related to those transactions, (3) whether Avance properly
disbursed funds from those transactions, (4) what parties,
including, but not limited to, insiders of the Debtor, received,
properly or improperly, proceed from those transactions, and (5)
whether Avance, or parties related to Avance, improperly retained
or received funds from those transactions.

The Court determined that it was appropriate to appoint an Examiner
under the facts of this case and that the appointment of an
Examiner was in the best interest of creditors, equity security
holders, and other interests of the estate, and recognizes the need
to obtain answers to questions in order to consider what claims may
exist for the benefit of the Debtor's estate.

A copy of the order is available for free at https://bit.ly/3QItbFy
from PacerMonitor.com.

         About Monster Investments

Monster Investments, Inc. is a Hughesville, Md.-based company
primarily engaged in renting and leasing real estate properties. It
is the fee simple owner of 28 real properties in Maryland and
Florida having an aggregate value of $9.95 million.

Monster Investments filed its voluntary petition for Chapter 11
protection (Bankr. D. Md. Case No. 21-16592) on Oct. 19, 2021,
listing $10,018,848 in assets and $16,529,878 in liabilities.
Donald Bernard, president, signed the petition.

Judge Lori S. Simpson oversees the case.

Michael G. Wolff, Esq., at Wolff & Orenstein, LLC represents the
Debtor as legal counsel.


MST CONSULTING: Taps Geraldine Montoya CPA as Accountant
--------------------------------------------------------
MST Consulting, Inc. seeks approval from the U.S. Bankruptcy Court
for the Western District of Texas to employ Geraldine Montoya, CPA,
PC as its accountant.

The firm will be paid at these rates:

     Geraldine Montoya     $250 per hour
     Marie Macias          $150 per hour

Geraldine Montoya, a partner at Geraldine Montoya, CPA, disclosed
in a court filing that her firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Geraldine Montoya
     Geraldine Montoya, CPA, PC
     2532 Montana Ave.
     El Paso, TX 79903
     Tel: (915) 313-0009

                       About MST Consulting

MST Consulting Inc., doing business as Aim Remodeling &
Construction, filed a petition under Chapter 11, Subchapter V of
the Bankruptcy Code (Bankr. W.D. Texas Case No. 22-30103) on Feb.
9, 2022, listing up to $500,000 in both assets and liabilities.
Brad W. Odell serves as Subchapter V trustee.

Judge H. Christopher Mott oversees the case.

The Debtor tapped the law firm of E.P. Bud Kirk as legal counsel
and Geraldine Montoya, CPA, PC as accountant.


NEONODE INC: Posts $1.55 Million Net Loss in Second Quarter
-----------------------------------------------------------
Neonode Inc. reported a net loss attributable to the company of
$1.55 million on $1.27 million of total revenues for the three
months ended June 30, 2022, compared to a net loss attributable to
the company of $1.66 million on $1.72 million of total revenues for
the three months ended June 30, 2021, according to a Form 10-Q
filed with the Securities and Exchange Commission.

For the six months ended June 30, 2022, the Company reported a net
loss attributable to the company of $2.93 million on $2.59 million
of total revenues compared to a net loss attributable to the
company of $3.23 million on $3.39 million of total revenues for the
same period during the prior year.

As of June 30, 2022, the Company had $19.11 million in total
assets, $2.25 million in total liabilities, and $16.86 million in
total stockholders' equity.

THE CEO'S COMMENTS

"Our overall sales and results for the second quarter of 2022 were
below expectations and were impacted by the fact that customers in
several of our key markets, particularly Asia, are still being
affected by lock-downs associated with the COVID-19 pandemic.  Many
of our customers are also having to navigate supply chain
constraints due to a shortage of semiconductor components and other
issues they are faced with in the current economic climate, slowing
their product sales, and in some cases their development and
launches of new products, which affects our business negatively,"
said Dr. Urban Forssell, Neonode's CEO.

"Our products business continues to develop and we are seeing a
growing interest in our Touch Sensor Modules ("TSM") from elevator
customers and interactive kiosk manufacturers in the
transportation, retail, hospitality, and medical segments.  To date
we have had the best traction in Japan and South Korea, but other
markets such as China, Western Europe, and North America are also
showing potential. Together with our distributors and value-added
resellers we continue to work to expand the TSM business and
increase our sales volumes," continued Dr. Forssell.

"In our efforts to re-vitalize our licensing business we focus on
automotive OEM and tier 1 customers, and we are encouraged by the
interest we are seeing for our object detection, gesture sensing
and driver and in-cabin monitoring solutions.  Short- and
medium-term the revenue potential is sales of non-recurring
engineering services in application development projects linked to
new vehicle platforms. These projects pave the way for increased
license revenues in the medium- and long-term when vehicles based
on the new platforms start being produced.  We continue to execute
on our strategy and remain optimistic about the potential to grow
this business in the coming years," concluded Dr. Forssell.

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/87050/000121390022046632/f10q0622_neonodeinc.htm

                           About Neonode

Neonode Inc. (NASDAQ:NEON) -- http://www.neonode.com-- provides
advanced optical sensing solutions for contactless touch, touch,
gesture control, and in-cabin monitoring.

Neonode reported a net loss attributable to the company of $6.45
million for the year ended Dec. 31, 2021, a net loss attributable
to the company of $5.61 million for the year ended Dec. 31, 2020,
and a net loss attributable to the Company of $5.30 million for the
year ended Dec. 31, 2019.


NORTHWEST SENIOR: Texas Landlord Blasts Chapter 11 Plan
-------------------------------------------------------
The landlord of a Dallas retirement community urged a Texas
bankruptcy judge to reject the operator's Chapter 11 plan, arguing
that the proposal is predicated on changes to the existing lease
that amount to a "Disney fairy tale."

Intercity Investment Properties Inc. urged the court on Friday to
toss Northwest Senior Housing Corp.'s Chapter 11 plan and instead
dismiss the Debtor's Chapter 11 case.

The Plan hinges on a successful outcome in the operator's adversary
case seeking to amend the terms of the lease at its luxury 400-bed
Edgemere retirement facility.  

"The Debtors continue to engage in a campaign of deception before
this Court and the Edgemere's residents by obscuring the facts and
creating unrealistic expectations for both.  The Debtors' recently
filed Plan and Disclosure Statement are predicated on a Successful
Outcome that is untethered to legal (or economic) realities, making
it apparent that the Debtors and their Sponsor (Lifespace
Communities, Inc.) are promoting a fantasy. Because there is no
chance of a Successful Outcome as a matter of law, the Plan is
unconfirmable and the Chapter 11 Cases must be dismissed
immediately"

"While like any good story, there are figments of truth, but the
Plan reads more like a Disney fairy tale -- describing a fictional
world in which the Debtors wish to live, rather than the real world
in which the Debtors operate.  The Plan gives residents of the
Edgemere a false sense of security that their deposits are "safe,"
based upon the flawed premise that the Lease (as defined herein)
can be modified by the Plan. It cannot.  The Lease cannot be
modified by the Plan.  In fact, the Bankruptcy Code unequivocally
requires that the Lease be assumed (or rejected) as is in its
entirety. Once the projections attached as Exhibit 4 to the
Disclosure Statement (the "Projections") are modified to reflect
this reality, it becomes instantly clear that the Plan is not
feasible. Moreover, neither the obligation to pay postpetition rent
nor the obligation to pay the post Effective Date obligations to
the counterparty of an assumed lease can be equitably
subordinated."

Counsel to Intercity Investment Properties Inc.:

        JACKSON WALKER LLP
        Michael S. Held
        Jennifer F. Wertz
        J. Machir Stull
        2323 Ross Ave., Suite 600
        Dallas, Texas 75201
        Telephone: (214) 953-6000
        Facsimile: (214) 953-5822

                - and -

        LEVENFELD PEARLSTEIN, LLC
        Eileen M. Sethna, Esq.
        Harold D. Israel, Esq.
        Elizabeth B. Vandesteeg, Esq.
        2 North LaSalle St, Suite 1300
        Chicago, Illinois 60602
        Telephone: (312) 346-8380
        Facsimile: (312) 346-8634

               About Northwest Senior Housing Corp.

Northwest Senior Housing Corporation, doing business as Edgemere,
is a Texas non-profit corporation and is exempt from federal income
taxation as a charitable organization described under Section
501(c)(3) of the Internal Revenue Code of 1986, as amended.
Northwest Senior Housing Corporation was formed for the purpose of
developing, owning and operating a senior living community now
known as Edgemere.

Northwest Senior Housing Corporation and its affiliates sought
Chapter 11 bankruptcy protection (Bankr. N.D. Tex. Lead Case No.
22-30659) on April 14, 2022. The petitions were signed by Nick
Harshfield, treasurer.  At the time of the filing, Northwest Senior
Housing listed $100 million to $500 million in both assets and
liabilities.

Judge Michelle V. Larson oversees the cases.

Polsinelli, PC and FTI Consulting Inc. serve as the Debtors' legal
counsel and business advisor, respectively.  Kurtzman Carson
Consultants, LLC, is the Debtors' notice, claims and balloting
agent and administrative advisor.

The Official Committee of Unsecured Creditors tapped Foley &
Lardner LLP as counsel, and Ankura Consulting Group, LLC, as
financial advisor.


OREGON RESEARCH: Gets OK to Hire Scott Law Group as Counsel
-----------------------------------------------------------
Oregon Research Institute received approval from the U.S.
Bankruptcy Court for the District of Oregon to employ Scott Law
Group, LLP to serve as legal counsel in its Chapter 11 case.

The firm will be paid at these rates:

     Attorneys      $290 to $325 per hour
     Paralegals     $90 to $140 per hour
     Law Clerks     $40 to $145 per hour

The firm will also be reimbursed for out-of-pocket expenses
incurred.

On July 27, 2022, the Debtor paid the firm $95,000 as a retainer.

Loren Scott, Esq., a partner at Scott Law Group, disclosed in a
court filing that the firm is a "disinterested person" as the term
is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Loren S. Scott, Esq.
     Scott Law Group LLP
     PO Box 70422
     Springfield, OR 97475
     Tel: (541) 868-8005
     Fax: (541) 868-8004
     Email: lscott@scott-law-group.com

                  About Oregon Research Institute

Oregon Research Institute is a charitable 501(c) 3 research center
in Springfield, Ore., dedicated entirely to understanding human
behavior and improving the quality of human life. Funded by
research grants from the National Institutes of Health and by the
United States Department of Education, ORI scientists study such
topics as childhood obesity and behavioral problems, ways to
strengthen children's social and academic success, adolescent and
adult depression, promoting health across the age span, preventing
and treating teen substance use and abuse, and understanding and
preventing eating disorders.

Oregon Research Institute filed its voluntary petition for Chapter
11 protection (Bankr. D. Ore. Case No. 22-60978) on July 27, 2022,
listing $1 million to $10 million in assets and $500,000 to $1
million in liabilities. Chris Arthun, director of finance and
administration, signed the petition.

Judge Thomas M. Renn oversees the case.

Loren S. Scott, Esq., at Scott Law Group, LLP serves as the
Debtor's legal counsel.


OUTDOOR HOME: S&P Alters Outlook to Negative, Affirms 'B' ICR
-------------------------------------------------------------
S&P Global Ratings affirmed all of its ratings on lawn, tree, and
shrub service provider Outdoor Home Services Holdings LLC (doing
business as TruGreen), including its 'B' issuer-credit rating, and
revised its outlook to negative from stable.

The negative outlook reflects the potential for a downgrade in the
next 12 months if leverage remains higher than 7x.

High costs of labor, chemicals, and fuel are eroding profitability.
Leverage increased to 6.6x for the last 12-months-ended July 2022,
which is above our prior expectations and approaching our 7x
downgrade trigger. The company recently completed a $60 million
incremental add-on to its term loan B due 2027 and with the
proceeds and balance sheet cash, funded a $164 million shareholder
distribution. S&P said, "We view this transaction as aggressive,
despite its negligible increase in leverage at the time, it has
weakened the company's cushion in its credit metrics in a
challenging operating environment. We forecast leverage to be near
6.5x at the end of 2022, but given the rising cost environment,
challenged labor market, and weaker demand for its services, we
believe there is risk that leverage can increase further."

S&P said, "S&P Global Ratings'-adjusted EBITDA margin declined 200
basis points to 16.8% for the 12-months-ended July 2, 2022, and we
project they will remain there through 2022 as inflationary
pressures and a challenging labor market persist. The
Russia-Ukraine conflict continues to significantly affect the
supply and price of urea, which is a key chemical in fertilizer
products the company uses. During the first half of 2022, urea
prices saw a higher-than-expected increase of more than 100% as
conflict-related supply shortages peaked. Though TruGreen attempted
to rectify this by adjusting prices, this dynamic resulted in some
pricing lag throughout the first two quarters of 2022. We expect
urea prices to moderate somewhat in the latter half of 2022 as the
company continues to readjust pricing to reverse this lag. However,
supply and cost dynamics add another element of uncertainty for our
forecast as a majority of the world's urea supply is concentrated
in Russia."

TruGreen also continues to struggle with staff retention and
turnover. Though its staffing is now adequate following some hiring
initiatives and increasing annual wages across its workforce during
the last year, S&P expects wage inflation will continue weighing on
profitability, albeit to a lesser extent. After restarting its
door-to-door selling program, which it suspended during the
COVID-19 pandemic, it is now also fully staffed. However, the
company continues to reassess and adjust its wages to improve
retention rates, with the possibility of further wage increases
over the next year.

S&P said, "We expect revenue growth over the next 12 months to be
relatively muted as the macroeconomic backdrop softens consumer
demand across the industry. TruGreen's business is highly seasonal
and discretionary in nature, and it generates approximately 65% of
revenues in the summer and spring seasons. The company's 8% revenue
growth in 12-months-ended July 2, 2022, compared with the same
period in 2021 is mainly attributed to higher prices. However,
overall customers and new customer sales have dropped in recent
periods, as the overall industry sees softer demand in recent
periods as ongoing inflationary pressures weigh on consumers'
discretionary spending. Demand across the industry in recent
periods also fell due to a cooler, wetter spring, resulting in some
lost customers. We expect lower consumer discretionary spending
will continue as the year progresses into the fall and winter
seasons, typically seasons with weaker lawncare demand. Despite
some of the company's additional catch-up pricing increases
benefiting top-line growth throughout the year, we expect overall
revenue growth to slow to a low-single-digit percentage at the end
of 2022 because of weaker demand."

Additionally, the company has been increasing spending on media and
digital marketing channels, in line with its strategy of shifting
its sales mix to the online channel. However, the disadvantageous
spring conditions that affected the entire lawncare industry in the
last two quarters have led to more intense competition for new
sales, particularly in digital marketing channels. Aggregators in
this space have taken advantage by bidding up the price of new
leads, resulting in higher-than-anticipated customer acquisition
costs that have also dragged on TruGreen's costs and profitability,
particularly as the company focuses more digital marketing.
However, S&P expects this trend to reverse to normal levels in the
latter half of 2022 as these aggregators begin backing out of the
market in the fall and winter, offset by our expectation that the
company will continue to increase its digital marketing spend to
attract new customers.

The negative outlook reflects the potential for a downgrade in the
next 12 months if S&P expects leverage to remain higher than 7x.

S&P could lower its ratings if it forecasts leverage will remain
higher than 7x. This could occur if:

-- Operating performance and profitability deteriorates further
from our current expectations, due to continued weaker consumer
demand, higher cost inflation among labor, fuel, and chemicals than
forecasted; or

-- More aggressive financial policies with continued debt-funded
dividends while leverage is elevated.

S&P could revise its outlook to stable if the company's leverage
remains below 7x. This could occur if:

-- The company is able to increase EBITDA by managing volatile and
inflationary costs in light of the macroeconomic backdrop while
demand remains healthy; or

-- The company focuses cash flow on repaying debt rather than
acquisitions.

ESG credit indicators: E-2, S-2, G-3



PEABODY ENERGY: S&P Upgrades ICR to 'B-', Outlook Stable
--------------------------------------------------------
S&P Global Ratings raised its issuer credit rating on U.S.-based
coal producer Peabody Energy Corp. to 'B-' from 'CCC+'.

S&P said, "Concurrently, we raised the issue-level ratings on the
company's letter of credit (LOC) facility and secured debt to 'B'
from 'CCC+'. We also revised the associated recovery ratings to '2'
from '3', reflecting improved recovery prospects following the
voluntary repayments of secured debt.

"In addition, we raised our issue-level rating on the secured debt
issued by subsidiary AU Holdings LLC to 'B' from 'CCC+', and
revised the recovery rating to '2' from '3'.

"The stable outlook reflects our expectation that Peabody's strong
earnings performance will continue leading to leverage of 2x-3x in
the next 12 months.

Peabody continues to prioritize pruning its capital structure using
excess cash flows to reduce debt. The company voluntarily repaid
about $207 million of debt in 2022, in addition to $420 million in
2021. S&P said, "We expect this trend will continue as the credit
agreements governing the secured debt at AU Holdings do not allow
repatriation of cash to the parent, thus incentivizing debt
reduction as a use of cash. Management has also publicly stated its
intention to repay all secured debt in its capital structure and,
therefore, we expect Peabody will continue to apply excess cash
generated to pay down the subsidiary's secured debt ($238 million
outstanding as of Aug. 10, 2022) and other secured debt of the
parent (about $380 million as of Aug. 10, 2022). Our expectation of
further debt reduction is predicated on our projection of robust
discretionary cash flows of more than $1.2 billion in the next
12-24 months."

Peabody's healthy sources of cash and reduced hedge position have
lowered the risk of a liquidity crunch due to unexpected cash
margin requirements associated with the company's coal derivative
contracts. Strong demand for coal and supply tightness, intensified
by the Russian-Ukraine conflict, led to unprecedented volatility in
Newcastle coal prices in the first half of 2022 when they rose
above $400 per metric ton (/mt). As a result, the company made
additional margin requirements of $414 million during the six
months ended June 30, 2022. The company's hedge position has
reduced by 50% as of June 30, 2022, since the peak in March 2022.
Although the risk of further cash margin calls persists due to
current market volatility, we believe the risk of a liquidity
crisis is lower given the company's liquid resources. Peabody
increased its cash balances by 36% to $1.12 billion as of June 30,
2022, compared with the previous quarter. In addition, the company
could generate cash funds from operations (FFO) of $700
million-$800 million in the next 12 months, which would provide it
with further cushion to absorb some of the downside risks posed by
thermal coal price volatility. Although the company is required to
post cash to the margin account when prices go up, the reverse is
true when prices go down. Even if prices remain high, the company
can recover its cash when it delivers coal at the same high
prices.

S&P said, "We expect leverage will remain below 4x in fiscal years
2022 and 2023. Favorable commodity markets should allow Peabody to
generate EBITDA of $1.0 billion-$1.4 billion in fiscal 2022.
Thermal coal demand and prices remain resilient while metallurgical
coal (met coal) entered the third quarter on a downward trend,
after the premium low vol Australian free-on-board price declined
by about 42% by the end of the Q2 2022 compared with Q1 2022. We
expect elevated thermal coal prices (Newcastle), currently more
than $300/mt, will more than offset the dip in met coal prices and
lower sales volume due to inadequate rail services. We forecast
leverage below 2x in 2022, increasing to 2.2x-3.0x in 2023 on lower
earnings due to our assumption of moderating commodity prices."

Peabody's consistent financial policy parameters are a key ratings
driver. Although Peabody has committed to deleveraging since the
distressed exchanges in 2021, the company had a history of
prioritizing shareholder returns over debt reduction in favorable
commodity markets. For example, it returned a total of about $1.5
billion to shareholders in fiscal years 2018 and 2019 while
adjusted debt reduced by only $132 million year over year to $2.6
billion as of December 2019. S&P said, "We view this action as
unsupportive of the company's credit measures, confirmed by a
series of distressed exchanges in 2021 triggered by the 2020 market
downturn. Since then, Peabody has applied excess cash flows to debt
repayment, compelled by contractual restrictions on distributions
in its credit agreements. Execution on debt reduction commitments
and the continuation of credit-supportive actions, beyond the
credit agreements restrictions, will be key in our assessment of
the company's financial policy. As result, our final rating is one
notch lower than warranted by the combination of Peabody's business
and financial risk profiles."

S&P said, "The stable outlook reflects our expectation that Peabody
will sustain the strong earnings performance, leading to leverage
of 2x-3x over the next 12 months. The company will continue to
generate cash flows sufficient to fund its operations as well as
further its intent to eradicate secured debt from its capital
structure."

S&P could lower its ratings on Peabody in the next 12 months if
earnings declined more sharply than expected on weaker coal markets
leading to a severe deterioration in credit metrics. In such a
scenario S&P would expect:

-- Liquidity sources to exceed uses by less than 1.2x

-- Consistent periods of negative free operating cash flows
EBITDA interest coverage below 2x

S&P said, "We could raise our ratings on Peabody in the next 12
months if the company continues to execute its financial policy
flexed toward debt reduction and liquidity preservation. In such a
scenario, we would expect leverage close to 2x and a clear
articulation of Peabody's financial policy beyond limitations
imposed by the company's credit agreements."

ESG credit indicators: E-5, S-3, G-2



PECOS INN LLC: Seeks to Hire Eric A. Liepins P.C. as Counsel
------------------------------------------------------------
Pecos Inn, LLC seeks approval from the U.S. Bankruptcy Court for
the Western District of Texas to employ Eric A. Liepins, P.C. to
serve as legal counsel in its Chapter 11 case.

The firm will be paid at these rates:

     Attorneys      $275 per hour
     Paralegals     $30 to $50 per hour

The firm will also be reimbursed for out-of-pocket expenses
incurred.

The retainer fee is $5,000.

Eric Liepins, Esq., disclosed in a court filing that his firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.

The firm can be reached at:

     Eric A. Liepins, Esq.
     Eric A. Liepins, P.C.
     12770 Coit Road, Suite 850
     Dallas, TX 75251
     Tel: (972) 991-5591
     Fax: (972) 991-5788
     Email: eric@ealpc.com

                          About Pecos Inn

Pecos Inn, LLC owns the Pecos Inn located at 2207 West 3rd St.,
Pecos, Texas. The property is valued at $1 million based on bank
appraisal.

On July 28, 2022, Pecos filed a petition under Chapter 11,
Subchapter V of the Bankruptcy Code (Bankr. W.D. Texas Case No.
22-70099), listing $1 million to $10 million in both assets and
liabilities. Brad W. Odell has been appointed as Subchapter V
trustee.

Judge Tony M. Davis oversees the case

Eric A. Liepins, Esq., at Eric A. Liepins, P.C. is the Debtor's
counsel.


PLAYTIKA HOLDING: S&P Upgrades ICR to 'BB', Outlook Stable
----------------------------------------------------------
S&P Global Ratings raised its issuer-credit rating on Playtika
Holding Corp. to 'BB' from 'BB-'.

At the same time, S&P raised its first-lien issue-level ratings to
'BB+' from 'BB'; the recovery rating remains '2'. S&P also raised
its senior unsecured ratings to 'B+' from 'B'.

S&P said, "The stable outlook reflects our view that the company's
operating performance will include adjusted leverage metrics below
the 3.0x area on a sustained basis. The outlook also reflects our
view the company will continue to benefit from positive secular
trends in the gaming industry, albeit at a slower rate over the
next 12 months as discretionary spending levels dip in line with
expectations of an economic slowdown."

Playtika Holding Corp. continues to report good operating
performance that has reduced S&P Global Ratings-adjusted leverage
to below 2.0x as of June 30, 2022, on a trailing 12 months basis.

The company completed its IPO in January 2021 and while control is
still concentrated with Giant Interactive Group chairman Yuzhu Shi,
we view Playtika's governance risk as a lower risk factor than
before given the track record over the past 18 months.

The upgrade reflects Playtika's consistent operating performance
and strong revenue growth from a combination of organic revenue
growth and acquisitions that has driven its lower leverage.
Adjusted leverage was 1.6x as of June 30, 2022, on a trailing 12
months basis. S&P expects the company will have sufficient cushion
if it chooses to pursue acquisitions and/or shareholder
distributions by utilizing its high cash balance, while still
remaining below the 3.0x leverage threshold for the current
ratings.

Playtika Holding Corp. continues to benefit from secular growth
trends in the video game industry, especially in the fast-expanding
mobile segment. As consumers spend more time on smart phones and
other mobile computing devices, they are increasingly using these
devices for entertainment. In our view, companies like Playtika,
that can convert free users to paid users, effectively engage users
with frequent updates, and grow average revenues per user through
ongoing innovation are best positioned to succeed in this space.
Playtika's operational performance also continued to improve year
over year in 2021 despite a strong 2020 when the pandemic-related
shutdowns and stay-at-home orders resulted in significant user
growth for the company's games.

Playtika has demonstrated a good record of engaging users and
improving user monetization through its Boost platform. The company
identifies acquisition targets that meet its thresholds for
longevity and user base loyalty. The acquisition is then integrated
into its service platform to increase user engagement and
monetization through player segmentation, loyalty programs, and
other services. This strategy has proven very successful, as
demonstrated in the strong growth trajectory of the company's
historical acquisitions after integration. S&P expects Playtika to
continue making acquisitions over the next 12 months, using its
cash on the balance sheet and revolver availability.

S&P said, "Economic uncertainty and the conflict in Ukraine could
impact Playtika's growth momentum over the next 12 months, but we
don't expect credit metrics to materially weaken. As economic
uncertainty continues to grow, we would expect discretionary
spending levels to decline from historical levels. As a result, we
would expect Playtika's growth trajectory to moderate through 2023,
with flat revenue organic revenue growth. However, we expect
adjusted metrics will remain within the thresholds we have set for
the current ratings, given the historically high engagement rate of
its user base, and the recent diversification of its games beyond
casino-based to more social-based ones."

The company has a significant portion of its research and
developments (R&D) staff in parts of Ukraine. Its operations were
severely impacted in the beginning of the Ukraine/Russia conflict.
However, the company has thus far been able to relocate its
employees to other parts of Ukraine that are less directly
affected, and since the end of the first quarter, Playtika has not
seen any major disruptions to its operations.

S&P views this as a volatile situation, however, and if the current
conflict continues to escalate, Playtika may face incremental
operational costs to support its teams in Ukraine, including
relocation and/or rebuilding a team outside the conflict zone.
Slower R&D investments could also lead to less frequent updates to
its current portfolio of games, which could reduce its active user
base, and potentially revenue per daily active user.

Strong margin and cash flow profile. Playtika's adjusted margin
profile is more in line with that of the leading console and
personal computer (PC) video game developers--about 30%--compared
with other mobile video game developers that have much lower-margin
profiles. These higher margins are due to the large number of
top-grossing titles, the mature user base for its major titles, and
Playtika's ability to convert a higher percentage of users into
paying users over time.

The strong margin profile results in healthy cash flow generation
and we estimate that free operating cash flow (FOCF) to debt will
be more than 30% in 2022 and 2023. This will give Playtika the
flexibility to continue making strategic acquisitions, and/or
withstand temporary elevated costs without impacting its ability to
services its debt obligations.

A higher concentration of paying users versus console and PC video
game users creates potential volatility and need for greater
investment. Console and PC games tend to have more paying users
than mobile video games have. The broader paying base creates more
revenue visibility and predictability, especially for video game
developers with leading franchises. Playtika's games and other
mobile video games generally have larger user bases, but a much
smaller percentage of players that pay to play. These paying users
tend to spend at rates equal to or above what a console or PC user
will annually spend on a specific title. However, the higher
concentration of revenue per paying user for mobile titles creates
the potential for more revenue and earnings volatility, depending
on the level of paying-user churn. These dynamics can increase
customer-acquisition costs and content investment to maintain user
engagement and attract new players. Playtika has navigated this
volatile landscape with its core games increasing revenue and
maintaining its place in the top 100 revenue-generating mobile
games for several years.

S&P said, "The stable outlook reflects our view that the company's
operating performance will continue keep adjusted leverage metrics
below the 3.0x area on a sustained basis. The outlook also reflects
our view that the company will continue to benefit from positive
secular trends in the gaming industry, albeit at a slower rate over
the next 12 months as discretionary spending levels dip in line
with expectations of an economic slowdown.

"We could lower our ratings if we expect Playtika's adjusted
leverage to increase and remain above 3.0x on a sustained basis."

This could occur if:

-- Playtika's financial policy changes such that it demonstrates a
tolerance for higher leverage thresholds beyond 3.0x by pursuing
significant debt-financed acquisition and/or distributions.

-- Operating performance suffers as the competition in the casual
gaming landscape diminishes revenues from daily paying users.

S&P could raise its ratings on Playtika if:

-- S&P expects the company's adjusted leverage to decline and
remain below the 1.5x area on a sustained basis with a commitment
to maintain that leverage threshold; and

-- Playtika's revenue concentration continues to improve while it
grows a larger portfolio of titles across multiple genres.

ESG credit indicators: E-2, S-2, G-3



PROVENIR LLC: Unsecureds Will Get 5% of Claims in 60 Months
-----------------------------------------------------------
Provenir, LLC, filed with the U.S. Bankruptcy Court for the Western
District of Texas a Plan of Reorganization for Small Business under
Subchapter V dated August 15, 2022.

Debtor was originally formed in May, 2008, and has been conducting
its business operations for 14 years. Prior to, and after the
filing of this Chapter 11 case, the Debtor has conducted business
as a healthcare staffing company which provides staffing for
medical facilities throughout the country.

The Debtor's problems which led to the filing are almost entirely
attributable to the pandemic and the changes it imparted on the
Debtor's business model. Debtor's business has been in existence
for 14 years, is a viable business, and is now recovering back to
pre-pandemic levels of demand for staffing. However, without a
suitable factoring arrangement in place, the Debtor would not be
able to operate any longer which would destroy its ability to
reorganize. Therefore, the case was filed in order to get factoring
in place and continue the business while the Debtor seeks to
reorganize its debts.

The Debtor's financial projections show that the Debtor will have
projected disposable income of $54,181.13. The Debtor's projections
demonstrate the disposable income paid on a yearly basis to the
Holders of claims in Class 6 under the row entitled "Running
Disposable Income".

The final Plan payment is expected to be paid in December, 2027.

This Plan of Reorganization proposes to pay creditors of the Debtor
from the cash flow generated from the operations of the company and
its future income.

It is estimated that non-priority unsecured creditors holding
allowed claims will receive distributions, which the proponent of
this Plan has valued at approximately five cents on the dollar.
This Plan also provides for the payment of administrative and
priority claims as required by law.

Class 6 consists of Allowed Unsecured Claims (including
undersecured claims). The Debtor shall set aside the cumulative
amounts identified as Running Disposable Income, during the period
of time which is 60 months from the Effective Date of the Plan,
which shall be known as the "General Unsecured Creditor Fund".

All Creditors holding Allowed Unsecured Claims shall be paid a Pro
Rata share of the funds deposited in the General Unsecured Creditor
Fund on an annual basis, with each payment being due on the yearly
anniversary of the Effective Date. The allowed unsecured claims
total $1,187,702.00. Unsecured Creditors will receive a
distribution of 5% of their allowed claims.

Class 7 consists of Equity Members of the Debtor. All Equity
Members shall retain their membership interests in the Reorganized
Debtor.

This Plan is based upon the distributions to Creditors by the
Debtor, at its option, by means of one or more of the following:
(a) cash presently held by the Debtor and cash to be acquired
through the operation of its business including cash generated from
the contracts the Debtor is currently under and those contracts
that the Debtor may enter into at a later date; and (b) collection
of accounts receivable.

Debtor shall continue to exist as Reorganized Debtor after the
Effective Date with its current officers, Brigitta M. Glick and
Gary D. Glick, continuing to operate the company.

After the Effective Date, the Reorganized Debtor shall continue in
business and shall carry on its business affairs without
consultation or approval from the Bankruptcy Court or the
Creditors. The Reorganized Debtor shall be free to use or sell its
assets, hire, and compensate Professionals and otherwise operate
free of the restrictions, limitations and constraints existing
under the Code. The Reorganized Debtor shall operate in conformity
with the Plan and shall make distributions to Creditors timely and
in accordance with the Plan.

A full-text copy of the Plan of Reorganization dated August 15,
2022, is available at https://bit.ly/3ppsuFJ from PacerMonitor.com
at no charge.

Attorney for Provenir:

     H. Anthony Hervol
     Law Office of H. Anthony Hervol
     4414 Centerview Drive, Suite 207
     San Antonio, Texas 78228
     Fax: (210) 522-0205
     Email: hervol@sbcglobal.net

                       About Provenir, LLC

Provenir, LLC, provides employment services specializing in
healthcare recruitment.  Provenir sought protection under Chapter
11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 22-50514)
on May 15, 2022.  In the petition filed by Brigitta M. Glick,
managing member, the Debtor disclosed $463,311 in assets and
$1,258,237 in liabilities.

Judge Michael M. Parker oversees the case.

H. Anthony Hervol, Esq., at the Law Office of H. Anthony Hervol is
the Debtor's counsel.


PUERTO RICO: PREPA Takes More Time to Reach Debt Deal
-----------------------------------------------------
Michelle Kaske of Bloomberg News reports that Puerto Rico's
Electric Power Authority and its creditors will keep negotiating
through Sept. 9, 2022 to strike a potential deal to reduce $9
billion of debt.

A mediation team that manages the debt talks said it needs more
time beyond an Aug. 15 deadline for discussions, according to a
court filing Monday.

"Based on recent developments, negotiations are continuing to make
progress in the mediation process and the mediation team believes
it is beneficial to continue the mediation process and extend the
mediation termination date (and all related deadlines) to Sept. 9,
2022," according to the court filing.

                         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.


REVLON INC: Company Sued by Citigroup Over $900M Mistake
--------------------------------------------------------
Jeremy Hill of Bloomberg News reports that Citigroup Inc. has sued
Revlon Inc. in a bid to resolve a nagging legal question that
emerged after the bank mistakenly wired $900 million to the
cosmetics giant's lenders and intensified after Revlon filed for
bankruptcy.

When Citi accidentally sent $900 million to Revlon lenders in
August 2020 and later failed to get most of it back, the bank said
it became a lender to Revlon, effectively stepping into the shoes
of funds who refused to return about $500 million of the mistaken
payment.

                        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.


RJ CONSTRUCTION: Declares Bankruptcy Amid Battle With Arlington ISD
-------------------------------------------------------------------
Breaking News Texas reports RJ Construction, an Arlington, Texas
construction company, filed for Chapter 7 bankruptcy as its owner
continued to battle Arlington ISD to pay for repairs to Sam Houston
High School, which was damaged by burst pipes on campus during
Winter Storm Uri in February 2021.

Dozens of clients who had planned projects with RJ Construction now
say they lost thousands of dollars in the news after putting down
deposits for projects that are either planned or not completed.

Attorney Michael Hammond represents one of the owners of RJ
Construction -- its namesake, Robert Jordan.  Hammond confirmed the
company filed for bankruptcy on Tuesday this week.  He also said he
expects to release more information on Friday about projects RJ has
been involved with and about customers waiting to learn what will
happen to their planned projects.

Hammond also described Jordan’s legal battle with Arlington ISD
as a "domino effect" that prompted the bankruptcy filing.

Jordan told WFAA earlier this year that he and his 37 employees
spent 11 days working a 24-hour emergency schedule to dry out and
dehumidify the 450,000-square-foot Sam Houston High School to
prevent further moisture damage.

He claimed AISD owed him about $1 million for the project. The
district disputes the amount it was billed for the work. His
lawyers say no written agreement with Jordan about the price was
ever made.

Officially, AISD said in a statement that they need more
"documentation provided to support the cost of the services being
performed."

The district has since released a newsletter to the community that
claims Jordan billed the district for drying out the entire school,
even though his crew was working in less than half the campus
area.

Jordan and his attorney argue that AISD only asked for assistance
and an invoice, which he provided.

"At the time RJ Construction was performing the services, there
were no claims or complaints that RJ Construction failed to provide
proper documentation," said attorney Jordan Hammond.  "On the
contrary, AISD's primary concern was to return students to Sam
Houston High School."

Hammond continued, "The district was provided documentation from RJ
Construction.  The problem is that the county's alleged need for
additional documents is nothing more than a bad faith excuse to
avoid paying what it owes.  The 'we need more documentation'
narrative is a false flag to try to capture the county's ultimate
goal of negotiating a settlement for pennies on the dollar of what
was agreed upon."

Jordan told WFAA he sued to force the district to pay for his
company's services. The courts have since ordered mediation, but
Hammond said conciliation was unsuccessful, and Jordan has since
appealed.

Jordan did receive a $179,000 check from AISD, but said he never
cashed it because it wasn't enough and wasn't what he agreed to.

Meanwhile, clients of RJ Construction have taken to social media to
complain about the company’s failure to disclose its bankruptcy
filing — and the sudden closing of its Arlington office.

Some claimed they made deposits with RJ Construction ranging from
$1,400 to more than $100,000 for projects that have yet to be
completed.

Phones at the company's Arlington office and two others Jordan
deals with out of state were disconnected Thursday.

Hammond told WFAA that he and Jordan are aware of the customer
claims. Jordan expects to make a statement on the matter on
Friday.

                      About RJ Construction

RJ Construction is a general contractor.

RJ Construction sought protection under Chapter 7 of the U.S.
Bankruptcy Code (Bankr. N.D. Tex. Case No. 22-41805) on Aug. 9,
2022.  The case is overseen by Honorable Bankruptcy Judge Mark X
Mullin.  Jason Patrick Kathman, of Spencer Fane LLP, is the
Debtor's counsel.


SAVANNAH CAPITAL: Taps Corcoran Austin Hill Realty as Realtor
-------------------------------------------------------------
Savannah Capital, LLC received approval from the U.S. Bankruptcy
Court for the Middle District of Florida to employ Corcoran Austin
Hill Realty to market for sale its real property located at 310
West Broughton St., Savannah, Ga.

The firm will be paid a commission of 5 percent of the sales
price.

Andrew Cosey, a partner at Corcoran Austin Hill Realty, disclosed
in a court filing that his firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Andrew Cosey
     Corcoran Austin Hill Realty
     251 Bull Street
     Savannah, GA 31401
     Tel: (601) 433-6031
     Email: drew@austinhillrealty.com

              About Savannah Capital

Savannah Capital, LLC is an asset management company based in
Savannah, Ga.

Savannah Capital and its affiliate, New Broughton Street, LLC,
sought Chapter 11 protection (Bankr. M.D. Fla. Lead Case No.
22-01431) on April 11, 2022. In the petitions filed by Kris Callen,
manager, both Debtors listed up to $50,000 in assets and up to $10
million in liabilities.

Judge Catherine Peek Mcewen oversees the cases.

Jake C. Blanchard, Esq., at Blanchard Law, P.A. is the Debtors'
counsel.


SC SJ HOLDINGS: Says Pillsbury's Ch. 11 Malpractice Release Invalid
-------------------------------------------------------------------
Rick Archer of Law360 reports that the owners of a California
hotel, SC SJ Holdings, are asking a Delaware federal judge to
reverse a bankruptcy judge's decision that it is too late for them
to pursue malpractice claims against Pillsbury Winthrop Shaw
Pittman LLP on allegations of bad bankruptcy advice.

In a brief filed Thursday, August 11, 2022, owner of the former
Fairmont San Jose, SC SJ Holdings, argued the bankruptcy judge
erred when he found it was too late to strike a legal release
provision from the hotel's Chapter 11 plan, and that the release
should be found invalid.

In June, SC SJ asked the Delaware bankruptcy judge to deny a $6.3
million fee request from its ex-attorneys at Pillsbury Winthrop
Shaw Pittman
LLP, saying the firm's advice to file for Chapter 11 protection
left it millions of dollars poorer.  The Debtor said it could have
resolved a
dispute with its management company outside of bankruptcy, and that
Pillsbury's advice to file for Chapter 11 only led to millions in
costs and a $15 million payment to the management company anyway.

                 About SC SJ Holdings and FMT SJ

San Ramon, California-based Eagle Canyon Management's SC SJ
Holdings LLC owns The Fairmont San Jose, an 805-room luxury hotel
located at 170 South Market St., San Jose, Calif.  The hotel is
near many of the largest Fortune 1000 corporations and is a popular
location for conferences and conventions, particularly in the
technology industry.

On March 5, 2021, SC SJ Holdings' affiliate, FMT SJ LLC, filed a
voluntary petition for relief under Chapter 11 of the Bankruptcy
Code (Bankr. D. Del. Case No. 21-10521).  On March 10, 2021, SC SJ
Holdings sought Chapter 11 protection (Bankr. D. Del. Case No.
21-10549). The cases are jointly administered under Case No.
21-10549.

At the time of the filing, SC SJ Holdings disclosed assets of
between $100 million and $500 million and liabilities of the same
range.  FMT SJ estimated assets of between $500,000 and $1 million
and liabilities of between $100 million and $500 million.

Judge John T. Dorsey is assigned to the case.

The Debtors tapped Pillsbury Winthrop Shaw Pittman, LLP, as their
bankruptcy counsel, Cole Schotz P.C. as local counsel, and Verity
LLC as financial advisor.  Stretto is the claims agent and
administrative advisor.


SP STAR ENTERPRISE: Case Summary & Five Unsecured Creditors
-----------------------------------------------------------
Debtor: SP Star Enterprise, Inc.
          DBA Platinum Showgirls LA
        711 Ducommun St.
        Los Angeles, CA 90012-3442

Business Description: The Debtor operates an adult entertainment
                      club in Los Angeles, California

Chapter 11 Petition Date: August 18, 2022

Court: United States Bankruptcy Court
       Central District of California

Case No.: 22-14502

Judge: Hon. Deborah J. Saltzman

Debtor's Counsel: W. Derek May, Esq.
                  LAW OFFICE OF W. DEREK MAY
                  400 N. Mountain Ave., Suite 215B
                  Upland, CA 91786
                  Tel: 909-920-0443
                  Fax: 909-912-8114
                  Email: wdmlaw17@gmail.com

Estimated Assets: $50,000 to $100,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Mohan S. Makkar as president.

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

https://www.pacermonitor.com/view/3RX3BYY/SP_Star_Enterprise_Inc__cacbke-22-14502__0001.0.pdf?mcid=tGE4TAMA


STANFORD CHOPPING: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: Stanford Chopping, Inc.
        15430 Avenue 22
        Chowchilla, CA 93610

Chapter 11 Petition Date: August 17, 2022

Court: United States Bankruptcy Court
       Eastern District of California

Case No.: 22-11403

Judge: Hon. Rene Lastreto II

Debtor's Counsel: David C. Johnston, Esq.
                  DAVID C. JOHNSTON
                  1600 G Street, Suite 102
                  Modesto, CA 95354
                  Tel: (209) 579-1150
                  Email: david@johnstonbusinesslaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Alex Stanford as secretary.

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/DJC2JEQ/Stanford_Chopping_Inc__caebke-22-11403__0001.0.pdf?mcid=tGE4TAMA


SUNNY MILLS: Gets OK to Hire Maloy Law Group as Legal Counsel
-------------------------------------------------------------
Sunny Mills, LLC received approval from the U.S. Bankruptcy Court
for the Southern District of Florida to employ Maloy Law Group, LLC
to serve as legal counsel in its Chapter 11 case.

The firm's services include:

   a. advising the Debtor regarding its powers and duties and the
continued management of its business operations;

   b. advising the Debtor regarding its responsibilities in
complying with the U.S. Trustee's Operating Guidelines and
Reporting Requirements and with the rules of court;

   c. preparing legal documents;

   d. protecting the interest of the Debtor in all matters pending
before the court; and

   e. representing the Debtor in negotiations with its creditors in
the preparation of a Chapter 11 plan.

Maloy Law Group will be paid at these rates:

     Attorneys      $450 per hour
     Paralegals     $100 per hour

The firm will also be reimbursed for its out-of-pocket expenses.

The retainer fee is $26,917, which includes the filing fee.

Marilyn Maloy, Esq., a partner at Maloy Law Gorup, disclosed in a
court filing that her firm is a "disinterested person" as the term
is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Marilyn L. Maloy, Esq.
     Maloy Law Group, LLC
     540 N.W. 165 Street Road, Suite 210
     Miami, FL 33169
     Tel: (786) 483-7541
     Fax: (305) 402-0204
     Email: service@maloylaw.com

                         About Sunny Mills

Sunny Mills, LLC sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Fla. Case No. 22-14770) on June 20,
2022, listing as much as $1 million in both assets and
liabilities.

Judge Scott M. Grossman oversees the case.

Marilyn L. Maloy, Esq., at Maloy Law Group, LLC is the Debtor's
legal counsel.


THOMPSON ROSE: Taps Law Offices of Gabriel Liberman as Counsel
--------------------------------------------------------------
Thompson Rose Chapel, LLC received approval from the U.S.
Bankruptcy Court for the Eastern District of California to employ
the Law Offices of Gabriel Liberman, APC to handle its Chapter 11
bankruptcy proceedings.

The firm will be paid at these rates:

     Attorneys             $320 per hour
     Paraprofessionals     $150 per hour

The firm will also be reimbursed for out-of-pocket expenses
incurred.

The retainer fee is $13,528.

Gabriel Liberman, Esq., a partner at the Law Offices of Gabriel
Liberman, APC, disclosed in a court filing that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.

The firm can be reached at:

     Gabriel E. Liberman, Esq.
     Law Offices of Gabriel Liberman, APC
     1545 River Park Drive, Suite 530
     Sacramento, CA 95815
     Tel: (916) 485-1111
     Fax: (916) 485-1111
     Email: Gabe@4851111.com

                    About Thompson Rose Chapel

Thompson Rose Chapel, LLC -- https://www.thompsonrosechapel.com/ --
is an independent family owned funeral home and has been serving
families in Sacramento and surrounding counties since 1948. Its
motto is "Families Come First". The business is located at 3601 5th
Ave., Sacramento, Calif.

Thompson Rose Chapel sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Calif. Case No. 22-21727) on July 12,
2022. In the petition filed by Ginger Brown, managing member, the
Debtor listed $1 million to $10 million in both assets and
liabilities.

Judge Christopher D. Jaime oversees the case.

Gabriel E. Liberman, Esq., at the Law Offices of Gabriel Liberman,
APC is the Debtor's counsel.


TOP LINE GRANITE: Court OKs Cash Collateral Access Thru Sept 2
--------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Massachusetts
authorized Top Line Granite Design Inc. to use cash collateral on a
final basis under the same terms and conditions of the previous
order through September 29, 2022.

The Court said a further hearing on the matter is scheduled for
September 29 at 12 p.m. via Zoom video conference.

As previously reported by the Troubled Company Reporter, the Debtor
was permitted to use of cash collateral in the ordinary course of
its business to pay all reasonable expenses necessary to maintain
and continue usual business operations, substantially in accordance
with the updated budget.

As adequate protection, lienholders were granted post-petition
replacement liens and security interests in property of the
Debtor's estate, to the extent of valid perfected security
interests as of the Petition Date not subject to avoidance, in an
amount equivalent to the amount of cash collateral expended by the
Debtor, of the same type, in the same nature and to the same extent
as the Lienholders had in such assets pre-petition to the extent
the Lienholders held validly perfected and unavoidable liens and
security interests as of the Petition Date.

The Post-petition Liens will only secure the amount of any
diminution in the value of the Lienholders' prepetition collateral
constituting cash collateral resulting from the Debtor's use
thereof in the operation of the Debtor's business in the
Post-petition Period.

The Post-petition Liens will have the same priority, validity, and
enforceability as the Lienholders' liens on their pre-petition
collateral.

As further adequate protection, to the extent funds are available,
the Debtor was authorized to make monthly adequate protection
payments to the Lienholders.

A copy of the order is available at https://bit.ly/3SQnw23 from
PacerMonitor.com.

                About Top Line Granite Design Inc.

Top Line Granite Design Inc. is a manufacturer of cut stone and
stone products.  Top Line offers a selections of kitchen granite,
marble and quartz.

Top Line sought protection under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. D. Mass. Case No. 22-40216) on March 25, 2022. In the
petition signed by Edmilson Ramos, president, the Debtor disclosed
up to $10 million in assets and up to $50 million in liabilities.

Judge Christopher J. Panos oversees the case.

Alan L. Braunstein, Esq., at Riemer and Braunstein LLP is the
Debtor's counsel.




TOTAL FIRE PROTECTION: Files Subchapter V Case
----------------------------------------------
Total Fire Protection Inc. has sought bankruptcy protection in
South Dakota  The Debtor filed as a small business debtor seeking
relief under Subchapter V of Chapter 11 of the Bankruptcy Code.

The Debtor disclosed total assets of $3.152 million against
liabilities of $4.730 million as of Aug. 15, 2022.

According to court filings, Total Fire Protection 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
Sept. 12, 2022, at 1:00 PM by telephone conference call.  Proofs of
claim are due Oct. 12, 2022.

                   About Total Fire Protection

Total Fire Protection Inc. is a leader in fire and life safety
services for corporate and government clients across the United
States.

Total Fire Protection filed a petition for relief under Subchapter
V of Chapter 11 of the Bankruptcy Code  (Bankr. D. S.D. Case No.
22-40224) on Aug. 15, 2022.  In the petition filed by Richard C.
Brandt, as president, the Debtor reported assets and liabilities
between $1 million and $10 million.

Elizabeth M. Lally. has been appointed as Subchapter V trustee.

Clair R. Gerry, of Gerry & Kulm Ask, Prof. LLC, is the Debtor's
counsel.


TPC GROUP: Gets Court OK to Hire FTI as Financial Advisor
---------------------------------------------------------
TPC Group, Inc., and its affiliates received approval from the U.S.
Bankruptcy Court for the District of Delaware to hire FTI
Consulting, Inc. as their financial advisor.

The firm's services include:

     a. assisting the Debtors with their Chapter 11 bankruptcy
filings, including the preparation of court papers, negotiation of
debtor-in-possession financing, and advice on communications plans,
externally and internally;

     b. assisting the Debtors with information and analyses
required pursuant to the DIP financing including, but not limited
to, preparation for hearings regarding the use of cash collateral
and DIP financing.

     c. assisting the Debtors with preparing schedules of assets
and liabilities and statements of financial affairs;

     d. assisting the Debtors with the preparation of financial
information for distribution to creditors and others;

     e. assisting the Debtors with preparing monthly operating
reports;

     f. assisting the Debtors with cash management and reporting as
required by creditors, the Bankruptcy Code and Rules, the Office of
the U.S., and the court;

     g. assisting the Debtors in detailed analysis of restructuring
plans and negotiating a plan of reorganization;

     h. providing court testimony as needed; and

     i. assisting the Debtors with employee compensation and
benefit programs, employment arrangements and union contracts, and
pension obligations within the scope of services.

The hourly rates charged by the firm for its services are as
follows:

   Senior Managing Directors                    $950 - $1,325
   Directors/Sr. Directors/Managing Directors   $715 - $960
   Consultants/Senior Consultants               $385 - $680
   Administrative/Paraprofessionals             $155 - $290

In addition, the firm will receive reimbursement for work-related
expenses.

The retainer fee is $354,835.56.

Robert Del Genio, a senior managing director at FTI, disclosed in a
court filing that his firm is a "disinterested person" within the
meaning of Section 101(14) of the Bankruptcy Code.

FTI can be reached at:

     Robert A. Del Genio
     FTI Consulting, Inc.
     1166 Avenue of the Americas, 15th Floor
     New York, NY 10036
     Tel: +1 212 813 1640
     Email: robert.delgenio@fticonsulting.com

                         About TPC Group

TPC Group, headquartered in Houston, is a producer of value-added
products derived from petrochemical raw materials such as C4
hydrocarbons, and provider of critical infrastructure and logistics
services along the Gulf Coast.  The company sells its products into
a wide range of performance, specialty and intermediate markets,
including synthetic rubber, fuels, lubricant additives, plastics
and surfactants. With an operating history of more than 75 years,
TPC Group has a manufacturing facility in the industrial corridor
adjacent to the Houston Ship Channel and operates product terminals
in Port Neches, Texas and Lake Charles, La.

TPC Group and its affiliates sought Chapter 11 protection (Bankr.
D. Del. Lead Case No. 22-10493) on June 1, 2022.  TPC Group
estimated assets and debt of $1 billion to $10 billion.

The Hon. Craig T. Goldblatt is the case judge.

The Debtors tapped Baker Botts LLP and Morris, Nichols, Arsht &
Tunnell LLP as bankruptcy counsels; Simpson Thacher & Bartlett, LLP
as special finance counsel; FTI Consulting, Inc. as financial
advisor; Moelis & Company, LLC as investment banker, financial
advisor and capital markets advisor; and PricewaterhouseCoopers,
LLP as tax compliance and tax consulting services provider. David
Dunn of Province, LLC serves as Vice President of Restructuring of
the Debtors. Meanwhile, Kroll Restructuring Administration, LLC is
the claims agent and administrative advisor.

Eclipse Business Capital LLC is advised by Goldberg Kohn Ltd.

Paul Hastings LLP, and Stroock & Stroock & Lavan LLP are serving as
counsel to the Ad Hoc Noteholder Group that supports the Debtors'
restructuring. Evercore Group L.L.C., is the Group's financial
advisor. Young Conaway Stargatt & Taylor, LLP is local counsel to
the Ad Hoc Noteholder Group. The Supporting Noteholders are funds
controlled by FIG LLC and Fortress Capital Finance III(A) LLC,
Monarch Alternative Capital LP, PGIM Inc., Redwood Capital
Management LLC, and Strategic Value Partners LLC.  

Milbank LLP, and Pachulski, Stang, Ziehl & Jones are serving as
counsel to an Ad Hoc Group of Non-Consenting Noteholders, led by
Bayside Capital, Inc., and Cerberus Capital Management, LP.

On June 14, 2022, the U.S. Trustee for Region 3 appointed an
official committee of unsecured creditors in these Chapter 11
cases. The committee tapped Akin Gump Strauss Hauer & Feld, LLP and
Cole Schotz, PC as counsels and Dundon Advisers, LLC as financial
advisor.


TPC GROUP: Gets OK to Hire PwC as Tax Services Provider
-------------------------------------------------------
TPC Group, Inc. and its affiliates received approval from the U.S.
Bankruptcy Court for the District of Delaware to hire
PricewaterhouseCoopers, LLP.

The firm will provide tax compliance and tax consulting services
pursuant to the terms of these engagement letters:

     A. Recurring Tax Services Engagement Letter:

        i. PwC will provide advice, answers to questions on
federal, state and local, and international tax matters, including
research, discussions, preparation of memoranda, and attendance at
meetings relating to such matters, as mutually determined to be
necessary; and

       ii. PwC will provide advice or assistance with respect to
matters involving the Internal Revenue Services or other tax
authorities on an as-needed or as-requested basis.

        The compensation for the services is an hourly fee
arrangement, utilizing these hourly rates:

        Partner               $1,050
        Specialist Partner    $1,080
        Director              $642
        Specialist Director   $852
        Senior Manager        $570
        Manager               $529
        Senior Associate      $414
        Associate             $311

     B. The 2020 R&D Services SOW. Pre-petition, PwC agreed to
provide the following services for the 2020 tax year regarding the
TPC Group, LLC's Credit for Increasing Research Activities under
IRS Code Section 41 and research tax credits under applicable U.S.
and state authorities:

        i. Compute the eligible amount of Federal and Texas state
research credits for TPC LLC for the tax year ended December 31,
2020.

       ii. Services include presentation of the results to TPC
LLC's management. The preparation of any tax returns is outside the
scope of the engagement.

        The compensation for these services is a fixed fee
arrangement whereby PwC agreed to be paid $70,000, exclusive of
expenses.

     C. 2021 Tax Compliance Services SOW:

        i. Prepare and sign as preparer the U.S. federal and state
tax returns for TPC Holdings, Inc. for the tax year beginning
January 1, 2021 through December 31, 2021, as requested by TPC
Holdings for itself and certain entities; and

       ii. Related tax compliance services for the subsequent tax
years, including preparation of year end estimates, estimated tax
payments, allocations, compliance coordination, and related tax
services.

        The compensation for these services is a fixed fee
arrangement whereby PwC has agreed to be paid $85,000, exclusive of
expenses.

     D. M&A Tax Consulting Services Engagement Letter. PwC will
provide services relating to TPC Holdings debt restructuring
planning in connection with its filing for Chapter 11 bankruptcy
protection. The services will include, but not be limited to, the
following:

        i. PwC will review and analyze the information provided by
TPC Holdings to determine the nature and extent of its tax
attributes relevant to the transaction for U.S. federal income tax
purposes;

       ii. PwC will prepare calculations, models, and executive
summaries regarding the treatment of U.S. federal income tax
purposes of any insurance proceeds received by TPC Holdings and the
potential for cancellation of indebtedness income as a result of
the Transaction, as agreed upon with TPC Holdings, based on
information received by TPC Holdings and, where appropriate,
PwC’s assumptions;

      iii. PwC will construct or update a tax attribute reduction
model to outline the U.S. federal income tax implications of the
transaction;

       iv. PwC will participate on calls and in meetings with TPC
Holdings and its other advisors as requested by TPC Holdings; and

        v. If and when requested by TPC Holdings, PwC will also
provide ad hoc consultation to TPC Holdings in connection with the
transaction.  

        The compensation for these services is an hourly fee
arrangement, utilizing the following hourly rates:

        Partner               $1,276
        Specialist Partner    Not applicable
        Director              $1,134
        Specialist Director   Not applicable
        Senior Manager        $1,053
        Manager               $1,013
        Senior Associate      $851
        Associate             $648

In the 90 days prior to the petition date, PwC was paid $244,452,
of which $25,000 was on account of a pre-bankruptcy retainer and
$219,452 was for non-retainer payments on account of pre-bankruptcy
services performed for the Debtors.

Stephen Gray, a partner at PwC, disclosed in a court filing that
his firm is a "disinterested person" within the meaning of Section
101(14) of the Bankruptcy Code.  

PwC can be reached through:

     Stephen E. Gray
     PricewaterhouseCoopers, LLP
     PricewaterhouseCoopers LLP
     1000 Louisiana Street, Suite 5800
     Houston, TX 77002
     Tel: +1 (713) 356-4000

                         About TPC Group

TPC Group, headquartered in Houston, is a producer of value-added
products derived from petrochemical raw materials such as C4
hydrocarbons, and provider of critical infrastructure and logistics
services along the Gulf Coast.  The company sells its products into
a wide range of performance, specialty and intermediate markets,
including synthetic rubber, fuels, lubricant additives, plastics
and surfactants. With an operating history of more than 75 years,
TPC Group has a manufacturing facility in the industrial corridor
adjacent to the Houston Ship Channel and operates product terminals
in Port Neches, Texas and Lake Charles, La.

TPC Group and its affiliates sought Chapter 11 protection (Bankr.
D. Del. Lead Case No. 22-10493) on June 1, 2022.  TPC Group
estimated assets and debt of $1 billion to $10 billion.

The Hon. Craig T. Goldblatt is the case judge.

The Debtors tapped Baker Botts LLP and Morris, Nichols, Arsht &
Tunnell LLP as bankruptcy counsels; Simpson Thacher & Bartlett, LLP
as special finance counsel; FTI Consulting, Inc. as financial
advisor; Moelis & Company, LLC as investment banker, financial
advisor and capital markets advisor; and PricewaterhouseCoopers,
LLP as tax compliance and tax consulting services provider. David
Dunn of Province, LLC serves as Vice President of Restructuring of
the Debtors. Meanwhile, Kroll Restructuring Administration, LLC is
the claims agent and administrative advisor.

Eclipse Business Capital LLC is advised by Goldberg Kohn Ltd.

Paul Hastings LLP, and Stroock & Stroock & Lavan LLP are serving as
counsel to the Ad Hoc Noteholder Group that supports the Debtors'
restructuring. Evercore Group L.L.C., is the Group's financial
advisor. Young Conaway Stargatt & Taylor, LLP is local counsel to
the Ad Hoc Noteholder Group. The Supporting Noteholders are funds
controlled by FIG LLC and Fortress Capital Finance III(A) LLC,
Monarch Alternative Capital LP, PGIM Inc., Redwood Capital
Management LLC, and Strategic Value Partners LLC.  

Milbank LLP, and Pachulski, Stang, Ziehl & Jones are serving as
counsel to an Ad Hoc Group of Non-Consenting Noteholders, led by
Bayside Capital, Inc., and Cerberus Capital Management, LP.

On June 14, 2022, the U.S. Trustee for Region 3 appointed an
official committee of unsecured creditors in these Chapter 11
cases. The committee tapped Akin Gump Strauss Hauer & Feld, LLP and
Cole Schotz, PC as counsels and Dundon Advisers, LLC as financial
advisor.


TPC GROUP: Taps Moelis & Company as Investment Banker
-----------------------------------------------------
TPC Group, Inc. and its affiliates received approval from the U.S.
Bankruptcy Court for the District of Delaware to hire Moelis &
Company, LLC as investment banker, capital markets advisor, and
financial advisor.

The firm's services include:

     a. assisting in reviewing and analyzing the Debtors' results
of operations, financial condition and business plan;

     b. assisting the Debtors in reviewing and analyzing any
potential restructuring, sale or capital transaction;

     c. assisting the Debtors in negotiating any restructuring,
sale or capital transaction;

     d. advising the Debtors on the terms of securities they offer
in any potential capital transaction;

     e. advising the Debtors on the preparation of information
memorandum for, a potential sale or capital transaction;

     f. assisting the Debtors in contacting potential acquirers or
purchasers of a capital transaction that Moelis and the Debtors
agree are appropriate, and meeting with and provide them with the
information memo and such additional information about the Debtors'
assets, properties or businesses that is acceptable to the Debtors,
subject to customary business confidentiality agreements;

     g. providing such other financial advisory and investment
banking services in connection with a restructuring, sale or
capital transaction as Moelis and the Debtors may mutually agree
upon; and

     h. providing testimony with respect to the going concern
valuation range of the reorganized debtors after giving effect to a
Chapter 11 plan and with respect to other appropriate and customary
matters as Moelis and the Debtors may mutually agree upon.

Moelis will be compensated as follows:

     a. During the term of the engagement agreement, a fee of
$150,000 per month, payable in advance of each month. After six
months of monthly fee payments, 50 percent of subsequent monthly
fees shall be creditable against any restructuring fee.

     b. At the closing of a restructuring, a fee of $7.25 million.
In the event that more than one restructuring transaction occurs,
the Debtors will pay a restructuring fee for each transaction.

     c. At the closing of a sale transaction, a non-refundable cash
fee equal to a market-based fee, to be agreed to by the Debtors and
Moelis in good faith at the appropriate time.

     d. At the closing of a capital transaction, a non-refundable
cash fee of (i) 4 percent of the aggregate gross amount or face
value of capital raised in the capital transaction as equity,
equity-linked interests, options, warrants or other rights to
acquire equity interests, plus (ii) 2 percent of the aggregate
gross amount or face value of unsecured debt obligations and other
unsecured interests raised in the capital transaction, plus (iii) 1
percent of the aggregate gross amount or face value of secured debt
obligations and other secured interests raised in the capital
transaction.

Zul Jamal, a managing director at Moelis & Company, disclosed in a
court filing that his firm is a "disinterested person" within the
meaning of Section 101(14) of the Bankruptcy Code.

Moelis & Company can be reached through:

     Zul Jamal
     Moelis & Company, LLC
     399 Park Avenue, 5th Floor
     New York, NY 10022
     Tel: +1 212 883 3813
     Email: zul.jamal@moelis.com

                         About TPC Group

TPC Group, headquartered in Houston, is a producer of value-added
products derived from petrochemical raw materials such as C4
hydrocarbons, and provider of critical infrastructure and logistics
services along the Gulf Coast.  The company sells its products into
a wide range of performance, specialty and intermediate markets,
including synthetic rubber, fuels, lubricant additives, plastics
and surfactants. With an operating history of more than 75 years,
TPC Group has a manufacturing facility in the industrial corridor
adjacent to the Houston Ship Channel and operates product terminals
in Port Neches, Texas and Lake Charles, La.

TPC Group and its affiliates sought Chapter 11 protection (Bankr.
D. Del. Lead Case No. 22-10493) on June 1, 2022.  TPC Group
estimated assets and debt of $1 billion to $10 billion.

The Hon. Craig T. Goldblatt is the case judge.

The Debtors tapped Baker Botts LLP and Morris, Nichols, Arsht &
Tunnell LLP as bankruptcy counsels; Simpson Thacher & Bartlett, LLP
as special finance counsel; FTI Consulting, Inc. as financial
advisor; Moelis & Company, LLC as investment banker, financial
advisor and capital markets advisor; and PricewaterhouseCoopers,
LLP as tax compliance and tax consulting services provider. David
Dunn of Province, LLC serves as Vice President of Restructuring of
the Debtors. Meanwhile, Kroll Restructuring Administration, LLC is
the claims agent and administrative advisor.

Eclipse Business Capital LLC is advised by Goldberg Kohn Ltd.

Paul Hastings LLP, and Stroock & Stroock & Lavan LLP are serving as
counsel to the Ad Hoc Noteholder Group that supports the Debtors'
restructuring. Evercore Group L.L.C., is the Group's financial
advisor. Young Conaway Stargatt & Taylor, LLP is local counsel to
the Ad Hoc Noteholder Group. The Supporting Noteholders are funds
controlled by FIG LLC and Fortress Capital Finance III(A) LLC,
Monarch Alternative Capital LP, PGIM Inc., Redwood Capital
Management LLC, and Strategic Value Partners LLC.  

Milbank LLP, and Pachulski, Stang, Ziehl & Jones are serving as
counsel to an Ad Hoc Group of Non-Consenting Noteholders, led by
Bayside Capital, Inc., and Cerberus Capital Management, LP.

On June 14, 2022, the U.S. Trustee for Region 3 appointed an
official committee of unsecured creditors in these Chapter 11
cases. The committee tapped Akin Gump Strauss Hauer & Feld, LLP and
Cole Schotz, PC as counsels and Dundon Advisers, LLC as financial
advisor.


TRAEGER INC: S&P Downgrades ICR to 'CCC+', Outlook Negative
-----------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on Salt Lake
City-based outdoor grill manufacturer Traeger Inc. to 'CCC+' from
'B'. At the same time, S&P lowered its issue-level rating on the
company's senior secured first-lien credit facility to 'CCC+' from
'B'.

The negative outlook reflects that S&P could lower the ratings in
the coming quarters if the company cannot improve profitability and
liquidity.

S&P said, "The downgrade reflects our view that Traeger's capital
structure could become unsustainable longer term absent a
turnaround in operating performance. Following
weaker-than-anticipated retail sell-through in the second quarter,
Traeger lowered its revenue and earnings guidance. Sales in the
second quarter declined 6% year over year and grill sales declined
25%, driven by tough comparisons, weaker consumer sentiment, and
the category losing share of discretionary spending. This resulted
in an operating loss of about $10 million, excluding a goodwill
write-down of $111 million, leading to trailing-12-month S&P
adjusted debt to EBITDA of 9.2x compared to 3.5x last year when
operating performance was very strong. Given the weak category
sell-through and excess retail channel inventory as of the second
quarter, we expect lower reorder sales and higher promotional
activity in the third quarter. We now forecast double-digit
leverage and negative free operating cash flow (FOCF) in 2022,
which we view as unsustainable if earnings growth cannot be
restored in 2023."

Covenant cushion under the recently ratified second amendment to
its first-lien credit agreement could tighten, limiting the
company's flexibility to focus on improving profitability and
working capital. The amendment increases the first-lien net
leverage ratio (springing when revolver is 35% drawn) to 8.5x from
6.2x. It also institutes a minimum liquidity requirement of $35
million, effectively reducing its $125 million revolver
availability by this amount. At the end of the second quarter,
covenant-defined leverage did not trigger since Traeger had not
drawn more than 35% of its revolver availability. Although S&P
expects an EBITDA cushion of more than 15% in the next quarter,
when it forecasts the covenant will trigger, cushion could tighten
if EBITDA further erodes or if permitted add-backs for cost
synergies and other one-time costs are lower than expected. Given
our expectation for sequential declines in trailing-12-month EBITDA
through at least the first half of 2023, unwinding working capital
and reducing possible revolver drawings to improve liquidity will
be critical to avoiding a downgrade. The risk of an imminent
liquidity shortfall is further mitigated by a lack of near-term
maturities and Traeger's fully hedged floating rate interest
exposure. Traeger also has borrowing capacity under its accounts
receivable financing agreement helps reduce its reliance on
revolver drawings with covenants. Traeger had $84 million borrowing
on the receivables financing facility and $3 million on the
revolver as of June 30, 2022. Still, these mitigating factors
become less relevant if earnings do not stabilize.

The trajectory of an earnings recovery depends upon favorable
operating conditions and management execution. Traeger plans to
restructure its operating costs to align with the lower anticipated
sales base. This effort will include workforce reductions and limit
discretionary general and administrative spending. The company
targets $20 million in annual run-rate cost savings and will incur
approximately $7 million in one-time costs associated with the
restructuring. Our base-case forecast assumes a portion of the $20
million savings target will be realized in late 2022 into 2023.
Traeger has made recent strides to slow the acceleration of gross
margin degradation, which began in late 2021 from inbound freight
inflation. It has benefited price increases taken in second half
2021 and early 2022, higher order mix filled through its direct
import program, and savings identified in materials cost sourcing.
It is also working to reduce inventory by lowering manufacturing
production. To alleviate retail channel inventories, Traeger will
increase promotional activity and reverse its recent price
increases on more elastic price products (grills priced below
$1,000), and has taken pricing actions on its opening price point
grills. S&P believes there is execution risk to these actions,
which are subject to consumer acceptance and price pressure from
competitors.

The negative outlook reflects that S&P could lower the ratings in
the coming quarters if Traeger's profitability, cash flow, and
covenant cushion do not improve such that we envision a specific
default scenario.

S&P could lower the ratings if it believes the risk of the company
defaulting within 12 months has risen. This could occur if:

-- Profitability deteriorates further such that Traeger violates
its amended financial covenants; or

-- It cannot unwind its working capital, leading to sustained cash
burn and materially weaker liquidity.

S&P could revise the outlook to stable or raise the ratings if the
company:

-- Manages operating costs to lower sales volumes such that it
returns to sustainable leverage;

-- Generates sustained positive FOCF; and

-- Lifts cash interest coverage above 1.5x.

ESG credit indicators: E-2, S-2, G-3



TRINET GROUP: S&P Upgrades ICR to 'BB+', Outlook Stable
-------------------------------------------------------
S&P Global Ratings raised its issuer credit rating on Dublin,
Calif.-based human resources (HR) outsourcing solutions provider
TriNet Group Inc. and its rating on the company's unsecured notes
to 'BB+' from 'BB'; S&P also affirmed its 'BBB-' rating on TriNet's
senior secured revolver.

The stable outlook reflects S&P's expectation TriNet will maintain
leverage beneath 1.5x despite modest net service revenue and EBITDA
contraction over the next 12 months.

The upgrade reflects TriNet's ability to capitalize on industry
tailwinds, including the tight labor market and lower health care
utilization. TriNet's trailing-12-month net service revenues grew
by about 27% year-on-year to $1.333 billion as of June 30, 2022;
this is a 44% increase over the pre-pandemic (2019) level. As a
result, its S&P Global Ratings-adjusted EBITDA has increased to
over $600 million, driving leverage down to 0.9x (on an S&P Global
Ratings gross adjusted basis) relative to our prior forecast for
about 1.3x in 2022. In its Professional Services segment,
trailing-12-month revenues have increased by 23% year-on-year, as
the company has benefited from low unemployment, rising wages,
price increases, and growing small to medium-sized business (SMB)
regulatory complexity in the wake of the pandemic. In its Insurance
Services segment, trailing-12-month net revenues have increased by
33% year-on-year, driven by a slower-than-expected rebound in
health care and workers' compensation costs. While health care
costs are expected to normalize slowly as the pandemic fades, we
believe trends supporting a decline in workers' compensation claims
could prove stickier. These include increasingly remote work
arrangements and a shift in customer end-market mix.

TriNet's SMB customer base and narrow service focus increase its
susceptibility to an economic recession, but its recent growth
provides a significant cushion at the 'BB+' rating. Under S&P's
updated base-case forecast, it expects a deceleration in economic
growth, rising unemployment, and a steady increase in health
insurance costs as the pandemic continues to recede. This should
result in modest net service revenue and EBITDA declines such that
leverage remains at about 1x over our forecast period.

TriNet's net service revenues are directly related to monthly
headcount and payroll levels at potentially volatile SMBs. This
could result in a meaningful revenue decline in the event of a
sharp recession with sustained GDP declines, spiking unemployment
rates, and minimal government stimulus for SMBs. That said,
assuming the company's financial policy remains reserved with
respect to leveraging shareholder returns or acquisitions, S&P
believes it can maintain credit measures in line with the 'BB+'
rating, even in the event of a large downturn consisting of a 40%
decline in EBITDA. In recent years, the mix of TriNet's customer
base has shifted moderately toward white-collar end-markets,
including technology, financial services, and life sciences, where
customers are potentially more resilient and typically utilize more
services than those in blue and grey collar positions. In recent
years, the company's white-collar customer composition has improved
to approximately 80% from approximately 66%.

TriNet has a sizable liquidity buffer to cushion against
deterioration in industry operating conditions. S&P forecasts
TriNet's total liquidity sources available across its cash on hand
and revolving credit facility will approach $1 billion over the
next 12 months. This incorporates its expectation for
share-repurchase amounts to revert to historical levels. This
provides the company with leeway to withstand an extended period of
significant earnings declines in the event of a recession, as it
has no debt maturities until 2026.

The stable outlook reflects S&P's expectation TriNet will maintain
leverage beneath 1.5x despite modest net service revenue and EBITDA
contraction over the next 12 months.

S&P could lower its ratings over the next 12 months if it expects
significant business deterioration due to a sustained decline in
industry operating conditions. This could occur if:

-- Rising unemployment and SMB failures drive worksite employee
volume declines;

-- Insurance costs exceed S&P's expectations due to rising health
care utilization or an increase in workers' compensation claims
resulting in headwinds to net service revenue and EBITDA;

-- Acquisition integration cost overruns result in EBITDA margin
contraction; or

-- The company adopts a more aggressive financial policy
consisting of large leveraging acquisitions, dividends, or share
repurchases, such that leverage exceeds 1.5x on a sustained basis.

S&P could raise the ratings again if TriNet publicly commits to a
financial leverage risk tolerance target while demonstrating
through-cycle earnings stability. In this scenario, the company
maintains a reserved financial policy with respect to leveraging
shareholder returns and acquisitions such that it expects S&P
Global Ratings gross adjusted leverage will remain below 1.5x.

-- U.S. real GDP growth of 2.4% in 2022 and 1.6% in 2023.

-- U.S. unemployment rate of 3.7% in 2022 and 4.1% in 2023.

-- Net service revenue growth decelerates to the mid-single-digit
percent area in 2022 (from 13.8% in 2021) and declines by about 3%
in 2023 as insurance costs normalize and hiring growth moderates
amid an economic slowdown.

-- Over the longer term, S&P expects mid-single-digit percent area
annual growth in net service revenues, supported by growing
regulatory complexity as customers adapt to increasingly remote,
cross-state work environments.

-- S&P Global Ratings-adjusted EBITDA margins decline to the
low-40% area from about 47% in 2021 as the company incurs higher
expenses related to labor, technology reinvestment, acquisition
integration, and insurance costs of about 89% of insurance revenues
in 2023 and 2024.

-- Share repurchase levels of about $450 million in 2022 and about
$200 million annually thereafter.

-- Annual capital expenditures of about $50 million-$60 million.

Based on these assumptions, S&P arrives at the following credit
measures:

-- S&P Global Ratings' adjusted leverage in the low-1x area
throughout our forecast.

-- S&P Global Ratings discretionary cash flow to debt in the
mid-teens percent area in 2023 and 2024.

ESG credit indicators: E2, S3, G2

S&Social factors are a moderately negative consideration on S&P's
rating analysis for TriNet. Its assessment reflects the
mission-critical importance of its human resources and payroll
services to its clients and to their employees. In addition, there
are high inherent risks and adverse consequences (reputational
damage, legal/regulatory fines, and operational disruptions) if it
fails to protect sensitive information or its critical
infrastructure and applications.



TRUSENTIAL LLC: Files Emergency Bid to Use Cash Collateral
----------------------------------------------------------
Trusential, LLC asks the U.S. Bankruptcy Court for the Northern
District of Ohio, Western Division, for authority to use cash
collateral in the ordinary course of business.

The Debtor requires the use of cash collateral to fund actual,
ordinary, and necessary operating expenses. Relief is requested
nunc pro tunc to the date of the filing of the case.

The cash collateral consists of funds on deposit, accounts
receivable and rolling receivables from customers which is possibly
subject to interests of the allegedly secured creditor, Plex
Capital.

Plex's interest, if any, in the accounts receivable and bank
balance will be adequately protected because the Debtor will grant
a replacement lien on any property secured by the agreement with
Plex. Further, Plex's interest is protected by its relationship as
either a "purchaser" per the parties' Purchase and Sale Agreement
(of the receivables it decides to "purchase") or a secured
creditor.

In the event of default of 30 days or more in filing of monthly
operating reports, or postpetition taxes, the Debtor will be
subject to the possible revocation of the proposed Cash Collateral
Order and, at the request of a party in interest, the case trustee
or the US Trustee, a motion may be filed seeking the dismissal or
conversion of the within case, or, in the alternative, Relief from
the Automatic Stay.

A copy of the motion is available at https://bit.ly/3AyplK9 from
PacerMonitor.com.

                       About Trusential LLC

Trusential LLC -- https://www.trusentialstaffing.com/ -- is a nurse
owned and operated healthcare staffing agency that provides
staffing placements for healthcare companies in need.

Trusential LLC filed a voluntary petition for relief under
Subchapter V of Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ohio
Case No. 22-31144) on Aug. 3, 2022.  In the petition filed by Cyona
Taylor-Randolph, as president and sole member, the Debtor reported
assets between $500,000 and $1 million against its estimated
liabilities between $100,000 and $500,000.

Patricia B. Fugee has been appointed as Subchapter V trustee.

Patricia A. Kovacs, Esq., at Patricia A. Kovacs, Attorney at Law,
is the Debtor's counsel.



TURNING POINT: S&P Alters Outlook to Negative, Affirms 'B+' ICR
---------------------------------------------------------------
S&P Global Ratings affirmed the 'B+' issuer credit rating on
Turning Point Brands (TPB)  and revised its outlook to negative
from stable.

S&P said, "We affirmed the issue-level rating on the company's $250
million senior secured notes at 'BB' with a recovery rating of '1',
reflecting our expectation for very high recovery in the event of a
payment default.

"The negative outlook reflects our expectation that macroeconomic
weakness, continued high inflation, and an uncertain regulatory
environment could lead to weaker credit metrics and a downgrade
over the next 12 months."

The company's NewGen segment has undergone substantial changes over
the past year in response to increased regulatory oversight from
the U.S. Food and Drug Administration (FDA) regarding vape
products, which has resulted in substantially lower sales for the
segment so far in 2022.

S&P said, "We expect volatility in the company's NewGen (primarily
vape distribution) segment to continue due to a broad regulatory
overhaul implemented by the FDA over the last year. Sales in the
NewGen segment are on track to decline more than 30% in 2022 as a
result of major changes in the way the FDA regulates vape products.
A combination of FDA decisions related to pre-market
authorizations, bans on synthetic nicotine, and restrictions on the
ways vape products can travel in the mail have pressured its
distribution operations. TPB has taken a conservative approach in
selectively managing its offerings to remain compliant with the
FDA, which has led to substantial volume declines so far in 2022.
For example, the company removed all third-party offerings that
lack outstanding pre-market tobacco applications (PMTAs) with the
FDA. We acknowledge that TPB is taking steps to replace the removed
offerings with other on-trend third-party products that have
outstanding PMTAs, but we expect performance in the NewGen segment
will remain weak over the next year. Consumer preferences within
the industry have shifted away from open tank systems (90% of TPB's
offerings are e-liquids or open tank hardware) in favor of
disposable vape products, and TPB has historically been
under-indexed to disposables. We believe that the sharp decline in
NewGen sales will be the main driver of consolidated net sales
declining roughly 5% in 2022. We project that the contraction of
the vape distribution business and increased operating expenses
across all segments, including certain unusual expenses, will lead
to lower consolidated EBITDA margin and adjusted leverage
increasing by over a half-turn by the end of 2022 to 4.7x.

"We expect TPB's core tobacco business (smoking and smokeless
segments) to continue to deliver satisfactory profits and cash
flow, but there are downside risks to our forecast in an uncertain
macroeconomic environment. With the unprecedented rise in gas
prices in 2022, TPB began seeing pressured volumes for smokeless
and smoking products in the convenience store channel due to lower
foot traffic and poor point-of-sale conversion. A large portion of
TPB's customer base for its chewing tobacco products is low-income
or senior citizens on fixed income, which are demographics most
affected by continued high inflation. Zig-Zag is a premium brand
rolling paper, and consumers could opt to trade down in a
recession. Given that S&P Global economists now estimate the
probability of a recession at 40%, we believe all three of TPB's
segments could see profit deterioration in a recession. We
acknowledge that, despite negative category trends in tobacco
products, TPB's smokeless and smoking segments have been resilient
businesses. Buoyed by the strength of Zig-Zag (No. 1 premium
rolling paper in the U.S.--34% market share) and Stoker's brands
(No. 1 overall chewing tobacco in the U.S.--26% market share), TPB
keeps expanding distribution of these products across all channels.
E-commerce and direct-to-consumer distribution is a key opportunity
for expanding the Zig-Zag brand, as well as capitalizing on the
alternative channel (legal cannabis dispensaries), where the
velocity of sales for rolling papers is significantly higher than
traditional channels. Our forecast contemplates mid-single-digit
percent sales growth in 2022 for the smoking and smokeless
segments, but continued high inflation and an uncertain
macroeconomic environment present downside risk to our forecast.

"We believe that TPB has adequate liquidity to weather current
challenges that the business is facing in the near term, but a
looming 2024 debt maturity presents modest refinancing risk. TPB
operates with a healthy cash balance of $107.5 million and full
availability under its $25 million revolver. TPB's next substantial
debt maturity comes in July 2024 when its $172.5 million senior
convertible notes come due. We expect TPB to generate about $50
million-$60 million in free operating cash flow (FOCF) per year,
which could be used to build up the cash balance in anticipation of
the 2024 maturity; however, the company may continue annual share
repurchases in the $30 million-$40 million range. Because of this,
we believe there is a modest amount of refinancing risk in 2024 if
share repurchases increase in advance of the maturity. We also
cannot rule out the possibility that TPB will transact large
debt-financed acquisitions in the future because the company has
shown that being acquisitive is a key element of its growth
strategy. Management has indicated a net leverage target (as
defined by the company) of 2.5x-3.5x."

The negative outlook reflects the potential for a lower rating if
operating performance continues to weaken in an uncertain
macroeconomic and regulatory environment.

S&P could lower its ratings if adjusted leverage is sustained above
5x. This could occur if:

-- There is a protracted period of economic weakness or very high
inflation that results in lower demand for the company's
tobacco-related products;

-- There are unfavorable regulatory developments; or

-- TPB adopts a more aggressive financial policy, including
substantial share repurchases or acquisitions that add debt or
utilize existing resources.

S&P could revise the outlook to stable if it believes TPB will
adopt more conservative financial policies, including adjusted
leverage sustained below 5x. This could occur if:

-- The company cuts back or pauses share repurchases and uses
excess cash flow to repay debt; and

-- The FDA accepts substantially all of TPB's PMTAs, resulting in
a regulatory competitive advantage and increased share in the vape
distribution market.

An outlook revision to stable would also be predicated on the
implementation of a credible plan to address the upcoming 2024
maturity of the company's convertible senior notes.

ESG credit indicator: E-2, S-3, G-2

S&P said, "Social factors are a moderately negative consideration
in our credit rating analysis of TPB because a sizable portion of
its sales are generated in the smoking segment, including cigarette
papers, MYO cigar wraps, cigar tobacco, and pipe tobacco.
Nevertheless, there is also a sizable component of smokeless
products, including moist snuff and loose-leaf chewing tobaccos,
that are generally viewed as less damaging to the public health,
particularly compared to combustible cigarettes (which TPB does not
sell). This is not withstanding the weakness in the NewGen
business, which also is viewed as less damaging than combustible
cigarettes, but faces an uncertain future."



TVS CONSTRUCTION: Wins Cash Collateral Access Thru Dec 8
--------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida,
Orlando Division, authorized TVS Construction Services, LLC to use
cash collateral on an interim basis in accordance with the budget
through December 8, 2022.

The Debtor is permitted to use cash collateral to pay: (a) amounts
expressly authorized by the Court, including payments to the United
States Trustee for quarterly fees; (b) the current and necessary
expenses set forth in the budget; and (c) additional amounts as may
be expressly approved in writing by the US Small Business
Administration as creditor -- which approval will not be
unreasonably withheld -- within 48 hours of the Debtor's request.
The Debtor will be entitled to prompt court hearings on any
disputed proposed expenditures.

As adequate protection, the SBA will have a perfected post-petition
lien against cash collateral to the same extent and with the same
validity and priority as the pre-petition lien, without the need to
file or execute any documents as may otherwise be required under
applicable nonbankruptcy law.

The Debtor will maintain insurance coverage for its property in
accordance with the obligations under the loan and security
documents with the Creditor.

A continued hearing on the matter is set for December 8 at 10:30
a.m.

A copy of the order and the Debtor's budget for the period from
July to December 2022 is available at https://bit.ly/3Amv7yg from
PacerMonitor.com.

The Debtor projects $220,000 in gross sales and $188,160 in total
operating expenses.

             About TVS Construction Services, LLC

TVS Construction Services, LLC is a construction company that
offers clients a broad scope of services with over 25 years of
combined construction experience in Metal Framing, Drywall,
Acoustical Ceilings, and Insulation. Project experience ranges from
single family residential construction, multi-story condominiums to
interior build-outs, office buildings, academic and institutional.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. M.D. Fla. Case No. 22-02312) on June 29,
2022. In the petition signed by Terry V. Savage, managing member,
the Debtor disclosed up to $50,000 in assets and up to $500,000 in
liabilities.

Judge Grace E. Robson oversees the case.

Jeffrey S. Ainsworth, Esq., at BransonLaw, PLLC is the Debtor's
counsel.



US STEEL: Fitch Gives BB Rating on 2022 Environmental Bonds
-----------------------------------------------------------
Fitch Ratings has assigned a 'BB'/'RR4' rating to the Environmental
Improvement Revenue Bonds, Series 2022 issued by the Arkansas
Development Finance Authority on behalf of United States Steel
Corporation (U. S. Steel). Proceeds will be used for qualifying
project expenses associated with the new $3 billion, three million
ton flat-rolled mini mill in Osceola, Arkansas.

The ratings reflect U. S. Steel's shifting focus to flexible and
lower cost, more efficient mini mills, Fitch's expectation that the
majority of announced capex will be funded with a combination of
cash and future FCF generation and that total debt/EBITDA will be
sustained below 2.5x.

KEY RATING DRIVERS

Improved Leverage Expectations: Fitch expects total debt/EBITDA to
be sustained below 2.5x over the rating horizon, compared with 0.6x
at June 30, 2022. U. S. Steel reduced total debt outstanding by
more than $1.9 billion since 1Q21 and has no outstanding borrowings
on its credit facilities. Fitch expects EBITDA to moderate from the
2021/2022 peak of around $5 billion per year, but to remain above
$2 billion annually thereafter. This compares with EBITDA of
approximately $1.5 billion during the previous high point in the
cycle in full-year 2018.

Strong FCF Generation: U. S. Steel generated over $3.2 billion of
Fitch-calculated FCF in 2021, and the company had cash and cash
equivalents of $3.0 billion as of June 30, 2022. Fitch believes
cash on hand in combination with future FCF generation will likely
be sufficient to fund the majority of the new $3 billion mini mill
investment in addition to other strategic capex. The ability to
fund capex with cash on hand lowers the risk of compromising the
balance sheet if there is a period of prolonged economic weakness.

Solid Steel Market Conditions: Hot rolled coil prices recovered
dramatically to historical highs in 2021 and have since moderated,
but remain elevated at over $1,000/ton. Fitch believes prices will
moderate over the next few years but views them as supported in the
near term by solid supply/demand dynamics and relatively high raw
material costs. Fitch views the domestic steel environment as
significantly improved following the recovery from the pandemic and
industry consolidation over the past few years, which led to
stronger than expected EBITDA generation and lower leverage for
domestic producers.

Best of Both Strategy: Fitch views U. S. Steel's strategy to invest
in flexible and lower-cost, more-efficient assets positively and
believes it will improve EBITDA and the company's overall cost
position and operating profile, and result in reduced earnings
volatility through the cycle. U. S. Steel acquired a 49.9% equity
interest in BRS, an electric arc furnace (EAF) facility with 3.3
million tons of annual capacity, for approximately $710 million in
October 2019. It acquired the remaining equity interest in BRS for
approximately $625 million in cash, net of cash and restricted cash
received in January 2021.
U.S. Steel also announced a $3 billion investment to construct a
new 3 million-ton mini mill, with production expected to begin in
2024.

Strategic Capex Improves EBITDA: U. S. Steel began construction on
a $450 million nongrain-oriented (NGO) electrical steel line at BRS
in 3Q21. The 200,000-ton NGO electrical steel line is expected to
deliver first coil in 3Q23 and be available to meet growing
electric vehicle demand expected in North America over the coming
years. U. S. Steel also announced a 325,000-ton galvanizing/
galvalume line at BRS in 3Q21. Fitch expects this $280 million
investment to expand the company's presence in value-added
construction applications and enhance BRS's product mix.

The company also began construction on a pig iron facility at Gary
Works in 2022, which is expected to have production capacity of
around 500,000 tons of pig iron intended to be consumed internally
at its EAFs. The investment is $60 million and first production is
expected in 1H23. U. S. Steel expects these investments, in
combination with the new mini mill investment, to improve run-rate
through-the-cycle EBITDA by approximately $880 million by 2026.

Asset Monetization Benefits Liquidity: Fitch views noncore asset
sales as benefiting liquidity for capital investments, given the
majority of debt-reduction efforts are complete, as the company has
no maturities before 2026. U. S. Steel granted Stelco Inc. a $100
million option to acquire a 25% interest in its Minntac iron ore
mining operations for an aggregate purchase price of $600 million.
Under the agreement, Stelco paid $100 million to U. S. Steel in
2020. Stelco will then have the ability to exercise its option any
time before Jan. 31, 2027 to acquire a 25% interest for an
additional $500 million. The transaction provides the potential to
further improve liquidity and fits the company's reduced footprint
following its permanent idling of steelmaking at Great Lakes
Works.

U. S. Steel sold its Keystone Industrial Port Complex, a noncore
real estate asset, for approximately $163 million in 2020, and
completed the sale of Transtar LLC, its short-line railroad, for
$627 million in 2021.

DERIVATION SUMMARY

U. S. Steel is smaller than Cleveland-Cliffs Inc. (BB-/Positive).
However, they have comparable operating profiles, as both companies
are integrated and have both blast furnace and EAF production, but
are primarily blast furnace producers. U. S. Steel is more
diversified by product and geography, but the companies have
comparable leverage metrics.

U. S. Steel is larger in terms of annual shipments compared with
EAF steel producer Commercial Metals Company (CMC, BB+/Stable). U.
S. Steel has higher product and end-market diversification compared
with CMC, but CMC has historically had lower leverage metrics and
its profitability is less volatile, resulting in more stable
margins and leverage metrics through the cycle. U. S. Steel is
larger in terms of total shipments, but it is less profitable with
weaker credit metrics compared with EAF producer Steel Dynamics,
Inc. (BBB/Stable).

KEY ASSUMPTIONS

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

-- Declining flat-rolled steel prices over the rating horizon;

-- Flat-rolled steel shipments of approximately 11.0 million-11.5

    million tons per year in 2022 and 2023;

-- Capex of approximately $2.5 billion on average through 2023,
    declining significantly thereafter following completion of the

    new mini mill;

-- The new mini mill is funded primarily with internally
    generated cash;

-- Share repurchases made with excess cash flow.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

-- Visibility into completion of the new $3 billion mini mill on
    time and on budget, in addition to the ability to fund the
    project primarily with internally generated cash;

-- EBITDA margins sustained above 12%;

-- Total debt/EBITDA sustained below 2.3x.

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

-- A material weakening of domestic steel market conditions
    leading to total debt/EBITDA sustained above 3.3x;

-- EBITDA margins sustained below 10%.

LIQUIDITY AND DEBT STRUCTURE

Solid Liquidity: U. S. Steel had $3.0 billion of cash and cash
equivalents as of June 30, 2022 and $2.4 billion, in aggregate,
available under its $1.75 billion asset-based loan (ABL) credit
facility due 2027, its U. S. Steel Kosice, s.r.o. credit facilities
due 2026 and the BRS ABL due 2026).

ISSUER PROFILE

U. S. Steel is an integrated steel producer of flat-rolled steel
and tubular products with operations in North America and Europe.
The company has a combination of blast furnace and electric arc
furnace capacity.

RATING ACTIONS

ENTITY/DEBT         RATING                      RECOVERY
-----------         ------                      --------
United States
Steel Corporation

  senior unsecured   LT   BB   New Rating        RR4



VOYAGER DIGITAL: Investors Sue Mark Cuban on Ponzi Scheme Promotion
-------------------------------------------------------------------
PYMNTS.com reports that billionaire Mark Cuban is being sued over
allegations that he misled investors to put money into now-bankrupt
crypto lender Voyager Digital, a class-action lawsuit filed in
Miami states, calling the platform "a massive Ponzi scheme."

"The Deceptive Voyager Platform is based upon false pretenses,
false representations, and is specifically designed to take
advantage of investors that utilize mobile apps to make their
investments, in an unfair, unsavory, and deceptive manner," the
92-page complaint against Cuban and co-defendant Stephen Ehrlich,
the founder and CEO of Voyager, alleges.

In addition, the suit describes the saga that ultimately cost
investors an estimated $5 billion as "a house of cards, built on
false promises and factually impossible representations that were
specifically designed to take advantage of the cryptocurrency craze
to the direct detriment of any ordinary investor."

In answer to PYMNTS' emailed request for a response sent to Cuban's
office in Dallas, Scott Tomlin, VP of Basketball Communications for
the Dallas Mavericks, said the team had no comment.

For its part, Voyager filed for bankruptcy in July as one of the
biggest casualties to emerge from the 6-month slump of bitcoin and
the cryptocurrency markets that wiped out an estimated $2 trillion
in valuation since last November when the market peaked.

Voyager's troubles stemmed from a $650 million loan it made to
Three Arrows Capital, which defaulted on a loan in June and was
subsequently forced to go into liquidation and suspend deposits and
withdrawals, leaving it unable to pay back the debt.

After Voyager filed its own bankruptcy protection in July, last
week a New York bankruptcy judge said Voyager could return $270
million in cash to its customers from crypto assets and other
holdings that are now tied up in court.

According to the report, Voyager told the court it had $1.3 billion
in crypto assets on its platform, along with another $350 million
at the bank where it held the deposits and $110 million in its own
cash and crypto assets.

Prior to that, the Federal Deposit Insurance Corporation (FDIC)
issued a stern warning to Voyager in late July telling the crypto
platform to stop "making false or misleading representations" to
its customers that their funds were FDIC insured.

                 About Voyager Digital Holdings

Based in Toronto, Canada, Voyager Digital Holdings Inc. --
https://www.investvoyager.com/ -- runs a cryptocurrency platform.
Voyager claims to offer a secure way to trade over 100 different
crypto assets using its easy-to-use mobile application. Through its
subsidiary Coinify ApS, Voyager provides crypto payment solutions
for both consumers and merchants around the globe.

Voyager Digital Holdings Inc. and two affiliates sought protection
under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead
Case No. 22-10943) on July 5, 2022. In the petition filed by
Stephen Ehrlich, as chief executive officer, the Debtor estimated
assets and liabilities between $1 billion and $10 billion.

The Debtors tapped Kirkland & Ellis, LLP as general bankruptcy
counsel; Berkeley Research Group, LLC as financial advisor; Moelis
& Company as investment banker; and Consello Group as strategic
financial advisor. Stretto, Inc. is the claims agent.


WILTON RE: Fitch Lowers Rating on Subordinated Debt to BB+
----------------------------------------------------------
Fitch Ratings has downgraded the Insurer Financial Strength (IFS)
ratings of Wilton Reassurance Company, Wilton Reinsurance Bermuda
Limited (WREB), Wilton Re Overseas Limited, Wilton Reassurance Life
Company of New York, Texas Life Insurance Company, Wilcac Life
Insurance Company and ivari (collectively Wilton Re) to 'A' from
'A+'.

Fitch has also downgraded Wilton Re Ltd.'s Long-Term Issuer Default
Rating (IDR) to 'BBB+' from 'A-'. The Rating Outlook is Stable.

KEY RATING DRIVERS

The downgrade reflects a revision in ownership uplift from Fitch's
view of Wilton Re's standalone credit quality (due to Wilton Re's
ownership by CPP Investments) to one notch from two notches
historically. The revision in ownership uplift more closely aligns
with Fitch's treatment of other insurers owned by non-insurance
entities, along with other Fitch-rated entities owned by CPP
Investments, such as Antares Holdings LP, though the application of
ownership uplift is somewhat unique.

The uplift recognizes Wilton Re as a non-core subsidiary, but
important investment platform for CPP Investments, and considers
the defined linkage to CPP Investments because of Wilton Re's debt,
including change of control provisions. Additionally, the uplift
recognizes the benefit that CPP Investments provides to Wilton Re's
financial flexibility. However, over recent years, given its excess
capital position compared to target levels, Wilton Re has returned
capital to CPP Investments.

Wilton Re's ratings continue to reflect its moderate business
profile and strong capitalization. Fitch believes that Wilton Re's
business profile reflects its strong presence in the administrative
reinsurance market. In recent years, the company's capitalization
and financial results have generally been strong and in line with
rating expectations. However, investment risk has increased
materially as part of an updated strategic asset allocation. Fitch
expects it to increase further over the rating horizon.

Fitch views Wilton Re's capital position as strong. As of YE 2021,
the company's Prism score was 'Very Strong', which exceeds
expectations for the current rating level. At YE 2021, capital
levels in the company's U.S., Bermuda and Canadian operations
remained at or above target levels. Fitch notes that a significant
portion of the company's capital resides in Bermuda and is largely
not currently distributable due to collateral requirements on
reinsurance agreements. Wilton Re's consolidated operating leverage
was 18x as of YE 2021, which is considered high given the company's
liability mix.

ivari's capital level declined in 2021, given rising interest rates
and declined further in 1Q22 with a total ratio of 110%, but
remains in excess of the company's target. ivari's required capital
is expected to increase in 2023 as a result of the implementation
of IFRS 17 related to an update in the calculation of the discount
rate for reserves.

As of YE 2021, Wilton Re's financial leverage ratio was 18%. The
ratio rose three percentage points in 1Q22, but subsequently
declined back to 18% in 2Q22 following the repayment of borrowings
on the company's credit facility. Holding company liquidity of $51
million as of YE 2021 aligns with the company's target of
maintaining 1x annual interest expense at the holding company.

Fitch ranks Wilton Re's business profile as moderate compared to
all other life insurance companies, which considers its experience
and strong position in acquiring runoff blocks and moderate
diversification. Given this ranking, Fitch scores Wilton Re's
business profile 'a-' under its credit factor scoring guidelines.
While the company is smaller than most peers, it possesses a strong
competitive position and solid track record in its core market of
acquiring runoff blocks.

Wilton Re's most recent transactions include the acquisition of
Allstate Life Insurance Company of New York and the reinsurance of
$1.7 billion universal life with secondary guarantees in 4Q21, both
of which Fitch views as complementary to Wilton Re's existing
liability profile.

Fitch considers Wilton Re's profitability to be strong. Return
metrics were stable in 2021, with an enterprise ROE of 9%,
benefitting from elevated limited partnership distributions and
favorable morbidity and longevity experience, which was partially
offset by elevated mortality. Earnings are expected to benefit from
rising interest rates; however, the deterioration in macroeconomic
conditions is a headwind for Wilton Re and peers. Results remained
strong in 1Q22.

ivari's reported earnings have been volatile due to the
mark-to-market Canadian accounting regime and assumption updates,
with net income of CAD74 million in 2021, following a net loss of
CAD68 million in the prior year. ivari's expected pre-tax run-rate
earnings are approximately CAD112 million. ivari produced a net
loss in 1Q22, driven by unfavorable equity market performance.

Wilton Re's investment risk has increased in recent years from a
conservative starting point. Risk asset levels are expected to
increase further in 2022 and beyond, primarily reflecting the
company's continued strategic asset allocation program that
includes further increases in its high-yield and private equity
exposure.

Bond portfolio quality is considered below-average in the U.S.,
with 92% of bonds rated investment grade as of YE 2021, two
percentage points below the industry. Additionally, a material
proportion of the company's high yield exposure is CLOs, which
Fitch views cautiously. Inclusive of ivari, Fitch estimates the
enterprise's risky asset ratio at 171% as of YE 2021, which is
above-average compared with the industry.

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

-- Less parental uplift assigned from the standalone credit
    profile, which could be a driven by a reduction in CPP    
    Investments' ownership stake or by the removal of the change
    of control provisions in Wilton Re's debt agreements;

-- Material transactions that further alter the company's risk
    profile

-- A sustained drop in the company's risk-adjusted capital
    position that results in a Prism score below 'Strong';

-- An increase in financial leverage to above 30%;

-- A sustained decline in earnings resulting in an ROE below 7%;

-- A decline in fixed-charge coverage to below 5x;

-- Deterioration in asset performance as evidenced by increased  
    impairments or increased price volatility leading to realized
    losses in a stressed market environment.

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

-- A change in Fitch's view of Wilton Re's strategic importance
    to CPP Investments;

-- An ROE sustained above 9%;

-- Fixed charge coverage of 9x or above;

-- A Prism score solidly in the 'Strong' category, along with an
    RBC ratio maintained above 350% and operating leverage below
    13x;

-- Financial leverage maintained below 25%;

-- A reduction in investment risk, including a risky asset ratio
    below 90%.

RATING ACTIONS

ENTITY/DEBT       RATING                       PRIOR
-----------       ------                       -----
Wilton Re Ltd.     LT IDR      BBB+ Downgrade    A-
  
  Subordinated     LT          BB+  Downgrade    BBB-

Wilcac Life        Ins Fin Str A    Downgrade    A+
Insurance
Company

Wilton             Ins Fin Str A    Downgrade    A+
Reassurance
Company

Wilton             Ins Fin Str A    Downgrade    A+
Reinsurance
Bermuda

Wilton Re          Ins Fin Str A    Downgrade    A+
Overseas
Limited

Wilton             Ins Fin Str A    Downgrade    A+
Reassurance Life
Company of New
York

Texas Life         Ins Fin Str A    Downgrade    A+
Insurance
Company

Ivari              Ins Fin Str A    Downgrade    A+

Wilton Re
Finance LLC

senior unsecured  LT          BBB  Downgrade    BBB+


WINDSOR FALLS: Seeks to Hire Wilcox Law Firm as Bankruptcy Counsel
------------------------------------------------------------------
Windsor Falls Condominium Association, Inc. seeks approval from the
U.S. Bankruptcy Court for the Middle District of Florida to employ
Wilcox Law Firm to handle its Chapter 11 bankruptcy case.

The firm will be paid at these rates:

     Partners       $250 to $300 per hour
     Associates     $165 to $235 per hour

The firm will also receive reimbursement for its out-of-pocket
expenses.

The retainer fee is $60,000.

Robert Wilcox, Esq., a partner at Wilcox Law Firm, disclosed in a
court filing that his firm is a "disinterested person" as the term
is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Robert D. Wilcox, Esq.
     Wilcox Law Firm
     1301 Riverplace Blvd., Suite 800
     Jacksonville, FL 32207
     Tel: (904) 405-1250
     Email: rw@wlflaw.com

                  About Windsor Falls Condominium
                          Association Inc.

Windsor Falls Condominium Association Inc. is the homeowner's
association for Windsor Falls Condominiums in Jacksonville, Fla.
It serves the needs of 384 homeowners.

Windsor Falls filed a petition for relief under Subchapter V of
Chapter 11 of the Bankruptcy Code on (Bankr. M.D. Fla. Case No.
22-01491) on July 27, 2022, listing $1 million to $10 million in
both assets and liabilities.

Judge Jacob A. Brown oversees the case.

Robert D. Wilcox, Esq. at Wilcox Law Firm is the Debtor's counsel.


WORLD CLASS: Paul Nate Buys Back Prime Real Estate After Sale
-------------------------------------------------------------
Paul Thompson of Austin Business Journal reports that Nate Paul,
the embattled Austin real estate investor who leads World Class
Holdings, has a new strategy for regaining control of some of his
firm's properties, and he's been busy this summer.

A shell company affiliated with World Class, Rising Tide
Investments LLC, has scooped up the assets of at least five World
Class entities. The real estate involved ranges from a hilltop spot
overlooking Barton Springs Road to a bar property on East Sixth
Street.

Most recently, Rising Tide in late July won an auction for the
assets of WC South Congress Square LLC: prime land on South
Congress Avenue, near the street's famed retail strip. World Class
has until near the end of the month to finalize the deal.

Over the past few months, Rising Tide has purchased the real estate
owned by at least four other World Class shell companies: WC Met
Center LLC, WC 511 Barton Blvd LLC, 6th and San Jacinto LLC and WC
3rd and Trinity LP.

Including WC South Congress Square, Rising Tide has committed more
than $221 million for the deals — though a considerable chunk of
those proceeds have been earmarked for creditors.

What exactly World Class plans to do with the assets remains to be
seen. Efforts to reach Nate Paul for this story were unsuccessful.

But the moves show how Paul is reinvesting the proceeds from the
spring sale of the Great Value Storage chain to wrestle back
control of parts of World Class' expansive portfolio. It has been
picked over by competitors since World Class had its office
searched by federal authorities in August 2019, which was followed
by a string of bankruptcies filings and foreclosures.

Though no charges have resulted from that raid, the company's
"business reputation was severely damaged, and their business
affairs were severely compromised," Paul alleged in a lawsuit filed
in October against the FBI. That lawsuit was referred on July 6 to
U.S. Magistrate Judge Susan Hightower, though no hearing has yet
been set.

In March 2022, a CBRE Group Inc. subsidiary and The William Warren
Group Inc. through a joint venture purchased Great Value Storage
out of bankruptcy for $588 million. While much of the proceeds went
to creditors, World Class netted at least $95.5 million from the
deal. Another $82 million was held in reserve to deal with
unresolved claims — it's unclear how much of those funds
ultimately flowed to World Class.

The sole member of Rising Tide is attorney Craig Dunagan, the
president of Travis County Exchange Corp., which specializes in
complex real estate matters such as 1031 exchanges. World Class has
used the mechanism — which allows businesses to defer federal
taxes on real estate exchanges — to reinvest the proceeds from
the GVS sale.

Rising Tide is representing World Class as what's called an
"exchange accommodation titleholder," according to an April
declaration filed by Dunagan in U.S. bankruptcy court.

WC South Congress Square details

The WC South Congress Square real estate stands out for its
proximity to downtown, as well as its tantalizing redevelopment
potential.

A trustee on July 27, 2022 conducted a bankruptcy auction for WC
South Congress Square. Rising Tide won the auction with a bid of
$95.1 million. The next highest bidder was NIA ATX LLC at $95
million. NIA ATX's offer will now serve as the backup bid.

On Aug. 1, 2022, a bankruptcy judge filed an order approving the
bid. Rising Tide has until 5 p.m. Aug. 29 to close the sale. All
indications are that it will do just that.

Sam Affanhe with Hunington Properties has worked for investor
groups that have pursued World Class properties in bankruptcy,
including some interested in South Congress Square.

He noted that while the site was highly coveted, trying to
redevelop the parcels would come with complications. For one,
Affanhe said that the latest plans for Project Connect "show an
underground tunnel going directly under the site." He also cited
water runoff issues and the ongoing negotiations between the city
of Austin and Endeavor Real Estate Group over redevelopment of the
old Austin American-Statesman headquarters as potential
challenges.

“Anybody who is purchasing the site at this point is doing it in
a little bit speculative nature," Affanhe said.

Even though in these Rising Tide transactions World Class is
ultimately both the buyer and seller, the money isn't just going
back into the firm's accounts. For example, with South Congress
Square, Rising Tide would be required to submit the $95.1 million
to a bankruptcy trustee, said Jay Ong of Munsch Hardt Kopf & Harr
PC, who is representing the U.S. trustee in the case.

The trustee, in turn, would disperse the funds owed to World Class'
current lender on the property, an affiliate of New York-based
Kennedy Lewis Investment Management. Kennedy Lewis was owed more
than $47 million as of June 30, according to court records, with
interest accruing at a default rate of $2,547 per day.

Attorney fees and a secured claim of more than $1 million from
Travis County for past-due taxes would also be paid at closing, Ong
said.

Then, what remains of the $95.1 million bid would effectively be
transferred between World Class affiliates.

                        The bigger picture

Rising Tide is the same entity World Class used earlier this year
to buy a group of properties at the MetCenter office park out of
bankruptcy for $53.5 million. The roughly 50 acres were previously
owned by WC Met Center LLC.

Rising Tide also spent $39.3 million on properties owned by WC 3rd
and Trinity LP, $25.1 million on properties owned by 511 Barton
Blvd LLC and $8.3 million on properties owned by 6th and San
Jacinto LLC.

Rising Tide beat out some heavy hitters in those bankruptcy
auctions. Among the qualified bidders were DHA Capital LLC, one of
the companies under contract to buy three former World Class
properties surrounding The Austonian condo tower for $95 million;
an affiliate of New York-based The Related Companies; a shell
company tied to Los Angeles-based developer Onni Group; and an
entity tied to Austin-based Stream Realty Partners.

Stream, which is planning a transformation of downtown's
party-centric East Sixth Street, was involved in the bidding
process for a building at 222 E. Sixth St. that's home to Recess
Arcade Bar.

All of these World Class shell companies were in March placed under
independent stewardship by a bankruptcy judge. Combined, they have
an assessed value of at least $141 million, according to appraisal
district records.

At the time, U.S. Bankruptcy Judge Tony Davis said, "I don't want
Mr. Paul to have control of the cash, period."

The court actions were partially in response to a series of
unexplained transfers out of World Class bank accounts, according
to representatives from the U.S. trustee’s office.

Paul rose rapidly on the Austin real estate scene over the past
decade and accumulated a huge portfolio with a long-term "buy and
hold" strategyBut in the past couple of years, he's lost some
prominent properties through foreclosure, including the former
Carmelo's restaurant site downtown and the 156-acre Northwest
Austin campus formerly occupied by 3M.

Now, with the Great Value Storage proceeds in hand, World Class has
moved quickly to preserve some of its remaining prized assets.

Here's a look at the properties purchased at auction by Rising
Tide:

   * WC 511 Barton Blvd LLC involves land at 511 Barton Blvd., off
Barton Springs Road and near Umlauf Sculpture Garden & Museum. The
property sits on about two acres and was most recently valued by
Travis Central Appraisal District at $8.6 million. It was purchased
by World Class in 2018. The entity filed for bankruptcy in December
2021.

   * 6th and San Jacinto LLC involves land at 222 E. Sixth St. in
downtown Austin — the listed location of Recess Arcade Bar. The
property has three floors and was most recently appraised at
$4,050,512 by TCAD. It was purchased by World Class in 2019. The
entity filed for bankruptcy in December 2021.

   * WC 3rd and Trinity LP owns 309 E. Third St., home to Brazilian
steakhouse chain Fogo De Chao. It was valued in 2022 for tax
purposes at about $11.5 million. The entity filed for bankruptcy in
April 2021.

   * WC Met Center LLC owns roughly 48.5 acres in MetCenter, most
recently valued for tax purposes at more than $68 million. It filed
for bankruptcy in September 2021.

   * WC South Congress Square LLC owns 105 W. Riverside Dr., a
roughly one-acre parcel most recently appraised at $6.95 million;
500 S. Congress Ave., a four-acre parcel most recently appraised at
$26.5 million; and 510 S. Congress Ave., a one-acre parcel most
recently appraised at $7.25 million. It filed for bankruptcy in
October 2020.

                  About World Class Holdings

World Class Holdings Inc. is a multi-billion dollar holding company
established by Nate Paul in 2016 that owns a diverse portfolio of
assets and operating companies. Paul formed World Class in 2007.
and today the company is one of the nation's largest
privately-owned real estate owners. Its portfolio spans multiple
asset classes, including office, retail, multifamily, industrial,
hospitality, self-storage and marinas located across 17 states
nationwide.

At least 22 entities owned by World Class have sought bankruptcy
protection  since November 2019.

Recent filings include those filed Oct. 6, 2020, by WC Teakwood
Plaza LLC (Bankr. W.D. Tex. Case No. 20-11104), WC 4811 South
Congress LLC (Case No. 20-11105), WC 8120 Research LP (Case No.
20-11106), and WC South Congress Square LLC (Case No. 20-11107) .

WC Teakwood was estimated to have $10 million to $50 million in
assets and $1 million to $10 million in liabilities as of the
bankruptcy fliling. WC 4811 South was estimated to have $10 million
to $50 million in assets and $1 million to $10 million in
liabilities. WC 8120 Research was estimated to have $10 million to
$50 million in assets and at least $1 million in debt. WC South
Congress was estimated to have $50 million to $100 million in
assets and $10 million to $50 million in liabilities.

FISHMAN JACKSON RONQUILLO PLLC, led by Mark H. Ralston, is the
Debtors' counsel.


[] BOOK REVIEW: Hospitals, Health and People
--------------------------------------------
Author: Albert W. Snoke, M.D.
Publisher: Beard Books
Softcover: 232 pages
List Price: $34.95
Order your personal copy today at
http://www.beardbooks.com/beardbooks/hospitals_health_and_people.html

Hospitals, Health and People is an interesting and very readable
account of the career of a hospital administrator and physician
from the 1930's through the 1980's, the formative years of today's
health care system. Although much has changed in hospital
administration and health care since the book was first published
in 1987, Dr. Snoke's discussion of the evolution of the modern
hospital provides a unique and very valuable perspective for
readers who wish to better understand the forces at work in our
current health care system.

The first half of Hospitals, Health and People is devoted to the
functional parts of the hospital system, as observed by Dr. Snoke
between the late 1930's through 1969, when he served first as
assistant director of the Strong Memorial Hospital in Rochester,
New York, and then as the director of the Grace-New Haven Hospital
in Connecticut. In these first chapters, Dr. Snoke examines the
evolution and institutionalization of a number of aspects of the
hospital system, including the financial and community
responsibilities of the hospital administrator, education and
training in hospital administration, the role of the governing
board of a hospital, the dynamics between the hospital
administrator and the medical staff, and the unique role of the
teaching hospital.

The importance of Hospitals, Health and People for today's readers
is due in large part to the author's pivotal role in creating the
modern-day hospital. Dr. Snoke and others in similar positions
played a large part in advocating or forcing change in our hospital
system, particularly in recognizing the importance of the nursing
profession and the contributions of non-physician professionals,
such as psychologists, hearing and speech specialists, and social
workers, to the overall care of the patient. Throughout the first
chapters, there are also many observations on the factors that are
contributing to today's cost of care. Malpractice is just one
example. According to Dr. Snoke, "malpractice premiums were
negligible in the 1950's and 1960's. In 1970, Yale-New Haven's
annual malpractice premiums had mounted to about $150,000." By the
time of the first publication of the book, the hospital's premiums
were costing about $10 million a year.

In the second half of Hospitals, Health and People, Dr. Snoke
addresses the national health care system as we've come to know it,
including insurance and cost containment; the role of the
government in health care; health care for the elderly; home health
care; and the changing role of ethics in health care. It is
particularly interesting to note the role that Senator Wilbur Mills
from Arkansas played in the allocation of costs of hospital-based
specialty components under Part B rather than Part A of the
Medicare bill. Dr. Snoke comments: "This was considered a great
victory by the hospital-based specialists. I was disappointed
because I knew it would cause confusion in working relationships
between hospitals and specialists and among patients covered by
Medicare. I was also concerned about potential cost increases. My
fears were realized. Not only have health costs increased in
certain areas more than anticipated, but confusion is rampant among
the elderly patients and their families, as well as in hospital
business offices and among physicians' secretaries." This aspect of
Medicare caused such confusion that Congress amended Medicare in
1967 to provide that the professional components of radiological
and pathological in-hospital services be reimbursed as if they were
hospital services under Part A rather than part of the co-payment
provisions of Part B.

At the start of his book, Dr. Snoke refers to a small statue,
Discharged Cured, which was given to him in the late 1940's by a
fellow physician, Dr. Jack Masur. Dr. Snoke explains the
significance the statue held for him throughout his professional
career by quoting from an article by Dr. Masur: "The whole question
of the responsibility of the physician, of the hospital, of the
health agency, brings vividly to mind a small statue which I saw a
great many years ago.it is a pathetic little figure of a man, coat
collar turned up and shoulders hunched against the chill winds,
clutching his belongings in a paper bag-shaking, tremulous,
discouraged. He's clearly unfit for work-no employer would dare to
take a chance on hiring him. You know that he will need much more
help before he can face the world with shoulders back and
confidence in himself. The statuette epitomizes the task of medical
rehabilitation: to bridge the gap between the sick and a job."

It is clear that Dr. Snoke devoted his life to exactly that
purpose. Although there is much to criticize in our current
healthcare system, the wellness concept that we expect and accept
today as part of our medical care was almost nonexistent when Dr.
Snoke began his career in the 1930's. Throughout his 50 years in
hospital administration, Dr. Snoke frequently had to focus on the
big picture and the bottom line. He never forgot the importance of
Discharged Cured, however, and his book provides us with a great
appreciation of how compassionate administrators such as Dr. Snoke
have contributed to the state of patient care today. Albert Waldo
Snoke was director of the Grace-New Haven Hospital in New Haven,
Connecticut from 1946 until 1969. In New Haven, Dr. Snoke also
taught hospital administration at Yale University and oversaw the
development of the Yale-New Haven Hospital, serving as its
executive director from 1965-1968. From 1969-1973, Dr. Snoke worked
in Illinois as coordinator of health services in the Office of the
Governor and later as acting executive director of the Illinois
Comprehensive State Health Planning Agency. Dr. Snoke died in April
1988.



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