/raid1/www/Hosts/bankrupt/TCR_Public/230110.mbx
T R O U B L E D C O M P A N Y R E P O R T E R
Tuesday, January 10, 2023, Vol. 27, No. 9
Headlines
1933 ASSOCIATES: Unsecureds Owed $10.4K Unimpaired in Plan
2123 PARTNERS: Unsecureds Owed $11.3K Unimpaired in Plan
307 ASSETS: Case Summary & Five Unsecured Creditors
310 BROAD AVENUE: Jan. 31 Status Conference Set
4570 HH PKWY: Case Summary & One Unsecured Creditor
5280 AURARIA: Seeks Cash Collateral Access
8TH AVENUE FOOD: Fidelity Fund Marks $2.2M Loan at 20% Off
937 SECOND AVE: Seeks to Hire Nathan Ferst as Special Counsel
942 PENN RR: Trustee Gets OK to Hire Real Estate Brokers
AAD CAPITAL: Affiliate Has Deal on Cash Collateral Access
ACME BUSINESS: Public Auction Set for January 19
ADIRONDACKS PROTECTION: Taps Adrienne Woods as Legal Counsel
ADIRONDACKS PROTECTION: Taps Vernon Consulting as Accountant
ADVANCED REIMBURSEMENT: Seeks to Delay Plan Hearing Amid Mediation
AEARO TECHNOLOGIES: Fee Examiner Taps Jacobson as Legal Counsel
AKOUSTIS TECHNOLOGIES: Acquires GDSI for $20 Million
ALLEN MEDIA: Fidelity Fund Marks $40.7M Loan at 16% off
ALTERA INFRASTRUCTURE: Emerges from Chapter 11 Process
ALTOSGROUPS LLC: Case Summary & 14 Unsecured Creditors
ALTOSGROUPS LLC: Case Summary & 20 Largest Unsecured Creditors
AMC ENTERTAINMENT: $2B Bank Debt Trades at 42% Discount
ASURION LLC: $1.64B Bank Debt Trades at 19% Discount
ASURION LLC: Fidelity Fund Marks $54.6M Loan at 30% Off
ASURION LLC: Fidelity Fund Marks $57.9M Loan at 31% Off
ATLAS PURCHASER: $250M Bank Debt Trades at 33% Discount
AUTOVOCITY TRANSPORT: Taps The Lane Law Firm as Bankruptcy Counsel
AUTOVOCITY TRANSPORT: Wins Cash Collateral Access Thru Jan 31
BEER REPUBLIC BREWING: Commences Subchapter V Case
BETTER WAY OF LIFE: Taps Weiss Law Group as Bankruptcy Counsel
BLOK INDUSTRIES: Case Summary & Seven Unsecured Creditors
BRIGHTHOUSE GREEN: Files Emergency Bid to Use Cash Collateral
BURKE BRANDS: Files Emergency Bid to Use Cash Collateral
CAMBER ENERGY: Regains Compliance With NYSE Listing Standards
CANOO INC: Nets $32M Under 2nd Supplemental Agreement With YA II PN
CDP HOLDINGS: Wins Cash Collateral Access Thru Feb 10
CHAZAR 410: HRE Completes Bankruptcy Sale of San Antonio Property
CIMPRESS USA: Fidelity Fund Marks $2.6M Loan at 18% Off
CINEMA SQUARE: Has Deal on Cash Collateral Access Thru April 30
CINEWORLD GROUP: Hollywood Theater in Springfield, MO Closes
CONAIR HOLDINGS: Fidelity Fund Marks $11.5M Loan at 16% Off
CORE SCIENTIFIC INC: Gets $17 Million Loan From BlackRock
CORE SCIENTIFIC: Announces Nov-Dec 2022 Operational Updates
CROWN FINANCE: Fidelity Fund Marks $1.4M Loan at 70% Off
CROWN FINANCE: Fidelity Fund Marks $26M Loan at 69% Off
DIAMOND SPORTS: Prudential GTRFI Marks $7.1M Loan at 81% Off
DURA-METRICS INC: Gets OK to Hire Gabriel Liberman as Legal Counsel
EMPIRE TODAY: Fidelity AS I Marks $15.4M Loan at 26% Off
EMS BILLING: Seeks Cash Collateral Access
ENDO INTERNATIONAL: SolomonEdwardsGroup as Accounting Consultant
EQUINOX HOLDINGS: Fidelity Fund Marks $29M Loan at 22% Off
EQUINOX HOLDINGS: Fidelity Fund Marks $7M Loan at 36% Off
EXELA TECHNOLOGIES: Receives Delisting Notice from Nasdaq
FORUM ENERGY: S&P Raises ICR to 'B-' Following Debt Conversion
FTX TRADING: Announces Cooperation Agreement with FTX DM Bahamas
FTX TRADING: Owners Forced to Sell Ether Tokens for Bitcoin
FTX TRADING: US to Probe Cryptocurrency Wallets Linked to SBF
GREENIDGE GENERATION: Obtains Limited Waiver from NYDIG, B Riley
GROWLIFE INC: Issues $1.87 Million Promissory Note to AJB Capital
GROWLIFE INC: Settles Suit With EZ-CLONE Minority Shareholders
GTT COMMUNICATIONS: Amended Chapter 11 Plan Effective December 30
GTT COMMUNICATIONS: Court Confirms Chapter 11 Plan
GYMBOREE CORP: To Seek Bankruptcy Protection for 3nd Time
HAWAIIAN HOLDINGS: Unit Agrees to Buy 2 Extra Boeing 787-9 Aircraft
HEXION HOLDINGS: Fidelity Fund Marks $40.4M Loan at 15% Off
HEXION INC: Fidelity Fund Marks $8.2M Loan at 21% Off
HIGHWAY 30: Commences Subchapter V Case
HUNTER DOUGLAS: Fidelity Fund Marks $82.1M Loan at 17% Off
ICP GROUP: Fidelity Fund Marks $8.7M Loan at 21% Off
JAGUAR HEALTH: Receives Noncompliance Notice from Nasdaq
JESS HALL'S: Case Summary & 20 Largest Unsecured Creditors
JFM HAMBURG: Wins Cash Collateral Access Thru Feb 1
JOANN INC: S&P Downgrades ICR to 'CCC+' Outlook Negative
JP INTERMEDIATE: Fidelity Fund Marks $21M Loan at 26% Off
JP INTERMEDIATE: Fidelity Fund Marks $2M Loan at 20% Off
KANSAS CITY RVS: Case Summary & 20 Largest Unsecured Creditors
KENNESAW LOFTBNB: Hits Chapter 11 Bankruptcy Protection
KLOECKNER PENTAPLAST: Fidelity Fund Marks $8.8M Loan at 17% Off
KURNCZ FARMS: Secured Creditor Files Restated Liquidating Plan
LV OPPORTUNITY: Unsecureds Owed $222K to Get $7K in Plan
MAGNOLIA OFFICE: Using Incorrect MORs, Says US Trustee
MARY A II: Committee Taps Trenam as Legal Counsel
MATTRESS FIRM: Fidelity Fund Marks $24.4M Loan at 15% Off
MED PARENTCO: Fidelity Fund Marks $12.2M Loan at 22% Off
MED PARENTCO: Fidelity Fund Marks $2.8M Loan at 25% Off
MIDTOWN WEST: CAF Bridge to Hold Auction on January 19
MOBIQUITY TECHNOLOGIES: Signs Securities Purchase Deal With Walleye
MONTGOMERY REALTY: Taps Lang Richert & Patch as Special Counsel
MONTGOMERY REALTY: Taps Sullivan Blackburn Pratt as Special Counsel
MORRIS RAILS: Unsecured Claims Not Impaired in Plan
MUSCLEPHARM CORP: Taps Stretto as Claims and Noticing Agent
NAKED JUICE: S&P Downgrades ICR to 'CCC' on Customer Losses
NASHEF LLC: Voluntary Chapter 11 Case Summary
NATIONAL MENTOR: Fidelity Fund Marks $13.5M Loan at 29% Off
NATIONAL MENTOR: Fidelity Fund Marks $225,000 Loan at 29% Off
NESV ICE: Court OKs Interim Cash Collateral Access
NINETY-FIVE MADISON: Taps Two Bins Capital as Financing Broker
NUTRIBAND INC: Commences Trading on Upstream Under NTRB
PACKABLE HOLDINGS: Seeks to Expand Scope of Baker Tilly's Services
PARAMOUNT REAL ESTATE: SARE Files Bare-Bones Petition
PARAMOUNT RESTYLING: Case Summary & 20 Top Unsecured Creditors
PHILLIPS SEABROOK: Medical Office Buildings Owner in Chapter 11
PLATINUM MOVING: Seeks to Hire The Valle Law Firm as Counsel
PROMEDICA HEALTHCARE: S&P Affirms 'BB' Bond Rating, Off Watch Neg.
R7 LEASE: Seeks Approval to Hire Mcdowell Law as Bankruptcy Counsel
RE-BUILD SEVILLE: Feb. 14 Hearing on Disclosure Statement
REAL TRAVEL: Case Summary & 20 Largest Unsecured Creditors
RICH'S DELICATESSEN: Court OKs Cash Collateral Access Thru Feb 8
RICH'S FOOD: Seeks to Hire Law Office of David R. Herzog as Counsel
RUNNER BUYER: Fidelity Fund Marks $12.7M Loan at 34% Off
SEMILEDS CORP: Incurs $509K Net Loss in First Quarter
SHEM OLAM: Seeks to Hire Sarajian & Baum as Special Tax Counsel
SILVERGATE CAPITAL: Moody's Cuts Issuer Rating to B1, Outlook Neg.
SP PF BUYER: Fidelity Fund Marks $15.8M Loan at 21% Off
SPIN HOLDCO: Moody's Cuts CFR & Senior Secured Debt Rating to Caa1
SUNLIGHT RIVER: Unsecureds Owed $59.8K to Be Paid in 60 Months
SUREFUNDING LLC: Seeks to Hire Carlyon Cica as Special Counsel
TGP HOLDINGS: Fidelity Fund Marks $1.2M Loan at 20% Off
TGP HOLDINGS: Fidelity Fund Marks $9.2M Loan at 20% Off
TIERRA ADENTRO: Plan Filing Deadline Extended to Jan. 30
TIMES SQUARE: Unsecureds Owed $4M Get Recovery in Payout Event
TKC HOLDINGS: Fidelity Fund Marks $13.7M Loan at 16% Off
TREASURE ISLAND: Seeks Approval to Tap Sole Law as Special Counsel
TREASURE ISLAND: Taps Tropical Valuation Advisory as Appraiser
TRINITY LEGACY: Court OKs Cash Collateral Access Thru March 31
ULTRA SEAL CORPORATION: Taps Timothy Dittenhoefer as Consultant
VACATION CONSULTING: Case Summary & 20 Top Unsecured Creditors
VENTURE GLOBAL: S&P Raises ICR to 'BB+', Outlook Positive
VERIPAC LLC: Wins Cash Collateral Access Thru Jan 15
WARNER SCIENCE: Case Summary & 11 Unsecured Creditors
WESTERN AUSTRALIAN: Taps Dave Cash of Keller Williams as Broker
WILLIAM HOLDINGS: Trustee Taps Greenspoon Marder as Legal Counsel
XEROX HOLDINGS: HPS Affiliate Deal No Impact on Moody's Ba2 CFR
[*] Ex-Texas AG Jason Binford Joins Ross & Smith as Shareholder
[*] McKool Smith Promotes Two Attorneys to Principal
[] PE-Backed Companies' Bankruptcy Filings Rose in 2022
[^] Large Companies with Insolvent Balance Sheet
*********
1933 ASSOCIATES: Unsecureds Owed $10.4K Unimpaired in Plan
----------------------------------------------------------
1933 Associates LP submitted a Second Amended Chapter 11 Plan of
Reorganization and a corresponding Disclosure Statement on Dec. 28,
2022.
The Debtor is a limited partnership that owns two properties,
residential apartment buildings located at 1933 Spring Garden
Street, Philadelphia, Pennsylvania and 1919 Spring Garden Street,
Philadelphia, Pennsylvania. The Debtor purchased the 1933 Property
in 1999 for $199,000.00 with financing obtained from Roxborough
Manayunk Bank. During 2000 the Debtor renovated and rehabbed the
1933 Property using funds from its principal. In 2001, after the
renovations were completed, the Debtor rented out the apartments.
In 2020, the pandemic caused many tenants at the 1933 Property and
the 1919 Property to stop paying rent and others to leave owing
rent. Two close family members of the Debtor's principal were
hospitalized with serious ailments which caused him to not be able
to devote sufficient time to the Debtor's management. The Debtor
defaulted in its payments to Investors as well as taxes owed to the
City of Philadelphia and utility payments. Because the note and
mortgage that the Debtor gave to Investors included a confession of
judgment of foreclosure, Investors filed the confession starting
the foreclosure proceeding. In the foreclosure proceeding, the
court appointed Odin Properties LLC to manage and operated the 1933
Property and the 1919 Property. During the foreclosure proceeding,
Investors sold the note and mortgage to Sterling Townhomes LLC.
Subsequently, the court in Philadelphia entered an order scheduling
a foreclosure sale. The Debtor filed its chapter 11 case to prevent
the foreclosure sale and to provide for the payment of its
creditors. Sterling also commenced an action against Corey Berman
in the United States District Court for the Eastern District of
Pennsylvania on his personal guarantee of the note that the Debtor
gave to Sterling.
In December 2022, Myron Berman ("Berman"), father of Corey Berman,
entered into a contract to purchase the claims and rights of
Sterling for fair consideration. As of the filing of this
Disclosure Statement, Berman has funded the purchase and expects to
become the holder of the first lien mortgage debt against both the
1919 Property and the 1933 Property before the Confirmation Date.
Myron Berman has agreed to treatment of his senior secured claims
under the Plan which will essentially reinstate the mortgages on
the 1919 Property and the 1933 Property. For the avoidance of
doubt, the Debtor does intend to refinance such mortgage loans
following its exit from chapter 11. The additional funds necessary
for the satisfaction of allowed Claims (other than Class 2 Claims
controlled by Berman) will come from Myron Berman at exit (the
"Exit Loan") and are estimated to be approximately $105,000.00.
Annexed hereto as Exhibit B is the financial statement of Myron
Berman which evidences a net worth in excess of $28 million.
Recently, entities in which Myron Berman has an interest sold some
of their real estate interests and Myron Berman will use certain
proceeds of these sales to provide the exit financing necessary to
fund the plan. The Debtor believes that the Exit Loan will be
sufficient to pay all other claims and expenses in this case beyond
the Class 2 debt which Berman will control as of the Confirmation
Date.
Under the Plan, Class 3 shall consist of those creditors holding
Unsecured Claims to the extent that such Claims are allowed by the
Court. The Internal Revenue Service filed a general unsecured claim
in the amount of $26,577.64 consisting almost all in penalties,
although no tax is owed. The Debtor intends to object to this
claim. City of Philadelphia/School District of Philadelphia filed a
general unsecured claim in the amount of $4,210.76. The Debtor
scheduled eleven general unsecured claims of tenants for security
deposits, Philadelphia Electric Company for electric services, and
Philadelphia Gas Works for gas services. One former tenant filed a
claim, Nicole Groff in the amount of $1900.00. Those claims total
$10,470.90. All allowed Class 3 claims will be paid in full on the
Effective Date, or if the Debtor objects to any Class 3 claim, the
day of a final order allowing the claim. This class is unimpaired
and is not entitled to vote for or against the Plan.
The Court has set January 18, 2023 at 1:00 P.M. for a hearing on
final approval of the Disclosure Statement and the confirmation of
the Plan.
A copy of the Disclosure Statement dated Dec. 28, 2022, is
available at https://bit.ly/3WAB5nV from PacerMonitor.com.
About 1933 Associates
1933 Associates LP, a company that is primarily engaged in renting
and leasing real estate properties, filed its voluntary petition
for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y.
Case No. 21-42981) on Nov. 30, 2021, listing $3,021,000 in total
assets and $1,547,467 in total liabilities. Affiliate 2123
Partners, LP, also signed the Chapter 11 petition (Bankr. E.D.N.Y.
Case No. 21-42983).
Corey M. Berman, sole partner, signed the petitions.
Judge Jil Mazer-Marino oversees the cases.
Rosenberg, Musso & Weiner, LLP, serves as the Debtors' counsel.
2123 PARTNERS: Unsecureds Owed $11.3K Unimpaired in Plan
--------------------------------------------------------
2123 Partners LP submitted a Second Amended Chapter 11 Plan of
Reorganization and a corresponding Disclosure Statement on Dec. 28,
2022.
The Debtor is a limited partnership that owns three properties,
residential apartment buildings located at 2123 Spring Garden
Street, Philadelphia, Pennsylvania, 2125 Spring Garden Street,
Philadelphia, Pennsylvania, and 1909 Green Street, Philadelphia.
The Debtor purchased the 2123 Property and the 2125 Property in
2004, both for $440,000, with financing obtained from Royal Bank.
During the next eighteen to twenty-four months, the Debtor
renovated and rehabbed the 2123 Property and the 2125 Property
using funds from its principal. After the renovations were
completed, the Debtor rented out the apartments in the two
properties.
In 2020, the pandemic caused many tenants at the 2123 Property, the
2125 and the 1909 Property to stop paying rent and others to leave
owing rent. Two close family members of the Debtor's principal were
hospitalized with serious ailments which caused him to not be able
to devote sufficient time to the Debtor's management. The Debtor
defaulted in its payments to Investors as well as taxes owed to the
City of Philadelphia and utility payments. Because the note and
mortgage that the Debtor gave to Investors included a confession of
judgment of foreclosure, Investors filed the confession starting
the foreclosure proceeding. In the foreclosure proceeding, the
court appointed Odin Properties LLC to manage and operated the
Debtor's three properties. During the foreclosure proceeding,
Investors sold the note and mortgage to Sterling Townhomes LLC.
Subsequently, the court in Philadelphia entered an order scheduling
a foreclosure sale. The Debtor filed its chapter 11 case to prevent
the foreclosure sale and to provide for the payment of its
creditors. Sterling also commenced an action against Corey Berman
in the United States District Court for the Eastern District of
Pennsylvania on his personal guarantee of the note that the Debtor
gave to Sterling.
In December 2022, Myron Berman ("Berman"), father of Corey Berman,
entered into a contract to purchase the claims and rights of
Sterling for fair consideration. As of the filing of this
Disclosure Statement, Berman has funded the purchase and expects to
become the holder of the first lien mortgage debt against both the
1919 Property and the 1933 Property before the Confirmation Date.
Myron Berman has agreed to treatment of his senior secured claims
under the Plan which will essentially reinstate the mortgages on
the 2123 Property, the 2125 and the 1909 Property. For the
avoidance of doubt, the Debtor does intend to refinance such
mortgage loans following its exit from chapter 11. The additional
funds necessary for the satisfaction of allowed Claims (other than
Class 2 Claims controlled by Berman) will come from Myron Berman at
exit (the "Exit Loan") and are estimated to be approximately
$120,000.00. Annexed hereto as Exhibit B is the financial statement
of Myron Berman which evidences a net worth in excess of $28
million. Recently, entities in which Myron Berman has an interest
sold some of their real estate interests and Myron Berman will use
certain proceeds of these sales to provide the exit financing
necessary to fund the plan. The Debtor believes that the Exit Loan
will be sufficient to pay all other claims and expenses in this
case beyond the Class 2 debt which Berman now controls.
Class 3 shall consist of those creditors holding Unsecured Claims
to the extent that such Claims are allowed by the Court. The
Internal Revenue Service filed a general unsecured claim in the
amount of $32,786.92 consisting almost all in penalties, although
no tax is owed. The Debtor intends to object to to this claim. City
of Philadelphia/School District of Philadelphia filed a general
unsecured claim in the amount of $2,509.93. The Debtor scheduled
eleven General Unsecured Claims of tenants for security deposits,
Philadelphia Electric Company for electric services, and
Philadelphia Gas Works for gas services. No former tenants filed
claims. Those claims total $11,321.59. All allowed Class 3 claims
will be paid in full on the Effective Date, or if the Debtor
objects to any Class 3 claim, the day of a final order allowing the
claim. This class is unimpaired and is not entitled to vote for or
against the Plan.
The Court will convene a hearing on Jan. 18, 2023 at 1:00 P.M. to
consider final approval of this Disclosure Statement and
confirmation of the Plan.
A copy of the Disclosure Statement dated Dec. 28, 2022, is
available at https://bit.ly/3Q1QLOl from PacerMonitor.com.
About 2123 Partners
2123 Partners LP, a company that is primarily engaged in renting
and leasing real estate properties, filed its voluntary petition
for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y.
Case No. 21-42983) on Nov. 30, 2021, listing $5,533,000 in total
assets and $3,046,630 in total liabilities. Corey M. Berman, sole
partner, signed the petition. Judge Nancy Hershey Lord oversees
case. Rosenberg, Musso & Weiner, LLP, serves as the Debtor's
counsel.
307 ASSETS: Case Summary & Five Unsecured Creditors
---------------------------------------------------
Debtor: 307 Assets LLC
307 6th Ave.
New York, NY 10014
Business Description: 307 Assets is a Single Asset Real Estate
as defined in 11 U.S.C. Section 101(51B).
The Debtor is the fee simple owner of a
property located at 307 Sixth Avenue
New York, NY 10014 valued at $14.5 million.
Chapter 11 Petition Date: January 9, 2023
Court: United States Bankruptcy Court
Southern District of New York
Case No.: 23-10027
Judge: Hon. James L. Garrity Jr.
Debtor's Counsel: Mark Frankel, Esq.
BACKENROTH FRANKEL & KRINSKY, LLP
800 Third Avenue
New York, NY 10022
Tel: (212) 593-1100
Fax: (212) 644-0544
Email: mfrankel@bfklaw.com
Total Assets: $14,500,000
Total Liabilities: $22,699,338
The petition was signed by David Goldwasser as chief restructuring
officer.
A full-text copy of the petition is available for free at
PacerMonitor.com at:
https://www.pacermonitor.com/view/RNABEZQ/307_Assets_LLC__nysbke-23-10027__0001.0.pdf?mcid=tGE4TAMA
List of Debtor's Five Unsecured Creditors:
Entity Nature of Claim Claim Amount
------ --------------- ------------
1. 307-309 Sixth $660,838
Avenue LLC
150 Broadway, Suite 900
New York, NY 10018
2. Gavask Inc. $30,400
2170 East 65 St.
Brooklyn, NY 11234
3. GDK Accounting Inc. $2,100
1 Dutch St., Unit 10A
New York, NY 10038
4. Piermont Management LLC $6,000
10 West Street Apt. 16G
New York, NY 10004
5. Sei Insieme LLC $7,500,000
80 Washington Pl
New York, NY 10011
310 BROAD AVENUE: Jan. 31 Status Conference Set
-----------------------------------------------
A status conference of 310 Broad Avenue Inc. is scheduled before
the Honorable John K. Sherwood for Jan. 31, 2023 (45-60 days after
the Order for Relief), at 10:00 AM, in the U.S. Bankruptcy Court,
50 Walnut St., Newark, NJ 07102, Courtroom no. 3D.
The Debtor's exclusive right to file a Plan expires on June 12,
2023 (180 days after the Order for Relief), unless the time period
is extended under 11 U.S.C. Section 1121(e)(3).
A Plan and Disclosure Statement must be filed no later than Oct.
10, 2023 (300 days after the Order for Relief), unless the time
period is shortened by order of this Court or extended under 11
U.S.C. Section 1121(e)(3).
Under 11 U.S.C. Section 1129(e), the Plan must be confirmed no
later than 45 days after it is filed unless the time is extended
under 11 U.S.C. Section 1121(e)(3).
Palisades Park, New Jersey-based 310 Broad Avenue Inc. filed a
Chapter 11 bankruptcy petition (Bankr. D.N.J. Case No. 22-19854) on
Dec. 14, 2022, estimating less than $500,000 in assets and
liabilities.
The Debtor is represented by:
Seung H. Shin
Shin & Jung LLP
201-482-8095
shinjunglaw@gmail.com
4570 HH PKWY: Case Summary & One Unsecured Creditor
---------------------------------------------------
Debtor: 4570 HH PKWY LLC
4570 Henry Hudson Parkway
Bronx, NY 10471
Chapter 11 Petition Date: January 9, 2023
Court: United States Bankruptcy Court
Southern District of New York
Case No.: 23-10025
Debtor's Counsel: Karamvir Dahiya, Esq.
DAHIYA LAW OFFICES, LLC
75 Maiden Lane Suite 606
New York, New York 10038
Tel: 212-766-8000
Email: karam@bankruptcypundit.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $10 million to $50 million
The petition was signed by Ashley Medina, power of attorney.
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/7TKQMXA/4570_HH_PKWY_LLC__nysbke-23-10025__0001.0.pdf?mcid=tGE4TAMA
List of Debtor's One Unsecured Creditor:
Entity Nature of Claim Claim Amount
United States $45,000,000
c/o US Attorney
John Gura JR
86 Chambers Street
New York, NY 10007
5280 AURARIA: Seeks Cash Collateral Access
------------------------------------------
5280 Auraria, LLC asks the U.S. Bankruptcy Court for the District
of Colorado for authority to use cash collateral on an interim
basis in accordance with its agreement with DB Auraria, LLC.
Fortress and Auraria Stub, LLC have asserted an interest in the
cash collateral under a prepetition Assignment of Rents.
The Debtor is in ongoing discussions with DB Auraria, which claims
a first priority lien in the Debtor's cash collateral. Given the
urgent nature of the relief requested, DB Auraria has consented to
entry of an interim order authorizing the Debtor's use of cash
collateral for the month of January 2023 in accordance with the
budget. The Interim Budget uses the Debtor's cash solely for
continued operations, in line with prior budgets submitted to the
Court.
Accordingly, the Debtor is amending its prior motion to request
entry of an agreed interim order and an extension of the deadline
to object to the Debtor's request to use cash collateral on a final
basis for the months of February and March 2023, in accordance with
the budget. Specifically, the Debtor requests that the Court extend
the objection deadline from January 6 to January 20.
DB Auraria asserts a senior security interest in the Debtor's
assets pursuant to a Deed of Trust, Assignment of Leases and Rents,
Assignment of Management Agreement, Lockbox Deposit Account Control
Agreement. DB Auraria asserts a claim for $51.112 million with
$48.5 million of that amount being secured. The Debtor has objected
to DB Auraria's claim (Claim No. 10-1).
Auraria Stub as Mezz Lender, also asserts a security interest in
the Debtor's property that is junior to DB Auraria's interest. The
Mezz Lender asserts it secured its junior loan in the original
principal amount of $5.5 million by a second priority deed of trust
on the Property and by a pledge of 25% of the equity interests in
the Debtor, held by Nelson Partners, LLC.
The Debtor understands that DB Auraria and the Mezz Lender consider
the rents and receipts that the Debtor generates from the Property
to be their cash collateral.
The Debtor proposes to use cash collateral on an interim basis
until such time as the Court schedules a final hearing on the use
of cash collateral. At the final hearing, the Debtor will seek
entry of a final cash collateral order permitting the Debtor to use
cash collateral through March 2023 in accordance with the Final
Budget.
The Debtor will provide the Lenders with a complete accounting, on
a monthly basis, of all revenue, expenditures, and collections
through the filing of the Debtor's Monthly Operating Reports.
A copy of the motion is available at https://bit.ly/3Xe0js3 from
PacerMonitor.com.
A copy of the Debtor's January 2023 budget is available at
https://bit.ly/3isaF96 from PacerMonitor.com.
The Debtor projects $285,458 in total revenue and $149,295 in total
expenses.
About 5280 Auraria
5280 Auraria, LLC, owns Auraria Student Lofts, a high-rise building
in downtown Denver aimed at providing housing for college students.
5280 Auraria's sole member and manager is Nelson Partners, LLC, a
Utah limited liability company. The individual principal is
Patrick Nelson.
5280 Auraria sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Col. Case No. 22-12059) on June 9, 2022.
In the petition filed by Patrick Nelson, as managing member, the
Debtor listed between $50 million and $100 million in both assets
and liabilities.
Judge Kimberley H. Tyson oversees the case.
Michael J. Pankow, Esq., at Brownstein Hyatt Farber Schreck, LLP is
the Debtor's counsel.
8TH AVENUE FOOD: Fidelity Fund Marks $2.2M Loan at 20% Off
----------------------------------------------------------
Fidelity Advisor Value Fund, a fund of Fidelity Advisor Series I,
has marked its $2,240,000 loan extended to 8th Avenue Food &
Provisions Inc. to market at $1,792,000 or 80% of the outstanding
amount, as of October 31, 2022, according to a disclosure contained
in its Form N-CSR for the fiscal year ended October 31, 2022, filed
with the Securities and Exchange Commission on December 21.
Fidelity Advisor Value Fund extended a second lien term loan that
carries 11.5039% interest (3 months U.S. LIBOR + 7.750%) to 8th
Avenue Food & Provisions Inc. The loan is scheduled to mature on
maturity date.
Fidelity Advisor Value Fund is a fund of Fidelity Advisor Series I,
a Trust that is registered under the Investment Company Act of
1940, as amended, as an open-end management investment company
organized as a Massachusetts business trust. Fidelity Management &
Research Company LLC (FMR) serves as investment manager.
8th Avenue Food & Provisions, Inc. provides food catering services.
The Company supplies organic and conventional peanut and other nut
butters, baking nuts, raisins, other dried fruit, and trail mixes
to leading grocery retailers, top food service distributors, and
industrial bakeries.
937 SECOND AVE: Seeks to Hire Nathan Ferst as Special Counsel
-------------------------------------------------------------
937 Second Ave Corp. seeks approval from the U.S. Bankruptcy Court
for the Southern District of New York to employ Nathan Ferst, Esq.,
a practicing attorney in New York, as its special counsel.
The Debtor requires an attorney to represent it in real estate
litigations against its landlord, Emmanuel Associates, LLC, and the
landlord's attorney, Adam Leitman Bailey P.C.
Mr. Ferst received a retainer of $10,000 for his services. His
current billing rate is $500 per hour. He bills paralegals at $185
per hour.
Mr. Ferst disclosed in a court filing that he is a "disinterested
person" within the meaning of Section 101(14) of the Bankruptcy
Code.
The attorney can be reached at:
Nathan M Ferst, Attorney At Law
15 Maiden Lane Suite 703
New York, NY 10038-5120
Phone: (212) 683-8055
Email: nmf@nathanmferst.com
About 937 Second Ave Corp.
937 Second Ave Corp., doing business as Barnacho, filed a petition
for Chapter 11 protection (Bankr. S.D.N.Y. Case No. 22-11467) on
Nov. 4, 2022, with up to $1 million in both assets and liabilities.
Anthony Cullinan, president, signed the petition.
Judge Michael E. Wiles oversees the case.
Bruce Weiner, Esq., at Rosenberg, Musso & Weiner and Nathan Ferst,
Esq., a practicing attorney in New York, serve as the Debtor's
bankruptcy counsel and special counsel, respectively.
942 PENN RR: Trustee Gets OK to Hire Real Estate Brokers
--------------------------------------------------------
Barry Mukamal, the trustee for 942 Penn RR, LLC, received approval
from the U.S. Bankruptcy Court for the Southern District of Florida
to employ Trustee Realty, Inc., and Fisher Auction Company as real
estate brokers.
The firms will market and sell the Debtor's real property located
at 942 Pennsylvania Avenue, Miami Beach, Fla.
The firms will be compensated as follows: a 6 percent buyer's
premium, of which 2 percent will be paid to Trustee Realty, 2
percent to Fisher Auction Company, and 2 percent to a buyer side
broker if one is involved, or to the estate if no buyer side
broker.
As disclosed in court filings, both firms are "disinterested"
within the meaning of Section 101(14) of the Bankruptcy Code.
The firms can be reached at:
Jason Welt
Trustee Realty, Inc.
401 East Las Olas Blvd. Suite # 1400
Ft. Lauderdale, FL 33301
Tel: (954) 803-0790
Email: jw@jweltpa.com
- and -
Lamar P. Fisher
Fisher Auction Company
2112 East Atlantic Blvd.
Pompano Beach, FL 33062
Tel: (954) 942-0917
About 942 Penn RR
942 Penn RR, LLC is the fee simple owner of a real property also
known as 942 Pennsylvania, Avenue, Miami Beach, Fla., valued at
$1.62 million.
942 Penn RR filed its voluntary petition for relief under Chapter
11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 22-14038) on
May 23, 2022. In the petition filed by Raziel Ofer, manager, the
Debtor disclosed $1,617,630 in total assets and $27,179,541 in
total liabilities.
Judge Robert A. Mark oversees the case.
The Law Office of Mark S. Roher, PA serves as the Debtor's counsel.
AAD CAPITAL: Affiliate Has Deal on Cash Collateral Access
---------------------------------------------------------
Market Street Shreveport LLC, a subsidiary of AAD Capital Partners,
LLC, asks the U.S. Bankruptcy Court for the Northern District of
Georgia, Atlanta Division, for authority to use cash collateral on
a final basis in accordance with its agreement with Arena Limited
SPV LLC.
Immediately following the filing of its chapter 11 petition, the
Debtor requested that Arena Limited consider a consensual
stipulation that would permit the Debtor to use Arena's alleged
cash collateral to, inter alia, fund the upkeep of the Standard
Lofts. On November 28, 2022, the Stipulated Order became a final
order.
The Stipulated Order authorized the Debtor to use cash collateral
through a "Termination Date" of January 31, 2023.
Pursuant to Paragraph 14 of the Stipulated Order, the Termination
Date may be reasonably extended by agreement of the Debtor and
Arena. On January 5, 2023, the Debtor and Arena executed a written
Stipulation to extend the Termination Date from January 31 through
and including February 24, 2023.
Arena will consider a reasonable extension of the Termination Date
if the Debtor is making substantial progress and a closing of a
sale or refinance, which is acceptable to Arena and the
consummation of which is subject solely to the Court's granting the
motion or approving the plan, has already been proposed in a motion
or plan filed with the Court on which a hearing will be held no
later than February 24, 2023. On the Termination Date, the rights
granted to the Debtor to use Arena's cash collateral and the
Debtor's obligations hereunder shall terminate absent further order
of Court; provided, however, the Replacements Liens, Superpriority
Administrative Claims and other adequate protection granted to
Arena will remain in effect until the Debtor pays in full the
Indebtedness it owes to Arena under the terms of the Loan
Documents.
These events constitute an "Event of Default":
a. The Debtor's breach of any provision, term or condition of
the Order, including without limitation the Debtor’s failure to
pay its Indebtedness to Arena in full by February 24, 2023, or any
extension of that date, failure to timely provide the financial
information, reports, comply with the Budget or provide any other
reasonable information requested by Arena; or
b. The conversion or dismissal of the Debtor's Chapter 11
case. The Debtor and Arena Limited SPV LLC entered into a Loan
Agreement dated March 24, 2022, pursuant to which Arena loaned
$10.5 million to the Debtor, and evidenced by the Promissory Note,
dated March 24, 2022, executed by the Debtor in favor of Arena. On
March 30, 2022, Arena filed a secured financing statement asserting
a lien in all of the Debtor's assets.
The Debtor and Arena agree to waive any default under Paragraph 10
of the Stipulated Order created by the Debtor's failure to file a
chapter 11 plan or motion for approval to sell the Real Property
and Personal Property by December 19, 2022.
The Adequate Protection Payments will continue to be paid to Arena
through the Termination Date as extended.
A copy of the motion is available at https://bit.ly/3WXHhpY from
PacerMonitor.com.
About AAD Capital Partners
AAD Capital Partners LLC, doing business as Peachtree Battle
Business Services, is a domestic limited liability company.
AAD Capital Partners LLC filed a petition for relief under Chapter
11 of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 22-58223) on
Oct. 12, 2022. In the petition filed by Edward Chen, as managing
member and owner, the Debtor reported assets and liabilities
between $10 million and $50 million.
The Debtor is represented by Ashley Reynolds Ray of Scroggins &
Williamson, P.C.
Arena Limited SPV, LLC, as secured creditor is represented by Eric
W. Anderson, Esq. at Parker Hudson Rainer & Dobbs, LLP and R.
Joseph Naus, Esq. at Wiener, Weiss & Madison, a Professional
Corporation.
ACME BUSINESS: Public Auction Set for January 19
------------------------------------------------
Hitachi Construction Machinery Co. Ltd, 16-1 Higashiueno 2-Chome,
Taito-Ku Tokyo, 110-0015, Japan ("secured party") will sell certain
inventory and equipment owned by Acme Business Holdco LLC, 9175 E.
Pima Center Parkway, Scottsdale, AZ, 85258, and Acme Lift Company
LLC, 4751 E. Indigo St., Mesa, AZ 85205 ("collateral") consisting
of excavators, base machines, wheel loaders, telehandlers and
crawlers carriers and manufactured by secured party, JLG or John
Deere Construction, to the highest qualified bidder at a public
sale to take place on Jan. 19, 2023, at 2:00 p.m. (Eastern Standard
Time) at and remotely from the offices of Paul Hastings LLP, 200
Park Avenue, 26th Floor, New York, NY 10166.
Access afforded in-person and remotely via Zoom or other web-based
video conferencing and telephonic conferencing program selected by
the secured party.
The collateral will be offered for sale first as two larger, bulk
lots and then either as individual items or as a number of smaller
lots, such individual items or smaller lots to be determined by
the secured party and announce at the time of the public auction.
Interested parties who intend to bid on the collateral must contact
Takayuki Umabiki at t.umabiki.pf@hitachi-kenki.com or at
813-5826-8155 to receive the terms of the sale, which include the
bidding instructions.
Attorneys for the secured party:
Paul Hastings LLP
Attn: Harvey A. Strickon, Esq.
200 Park Avenue
New York NY 10166
Tel: (212) 318-6380
Fax: (212) 230-7689
Email: harveystrickon@paulhastings.com
ADIRONDACKS PROTECTION: Taps Adrienne Woods as Legal Counsel
------------------------------------------------------------
Adirondacks Protection Services, LLC seeks approval from the U.S.
Bankruptcy Court for the Eastern District of New York to hire The
Law Offices of Adrienne Woods, P.C. as its counsel.
The firm's services include:
(a) advising the Debtor of its rights, powers and duties in
the continued operation and management of its assets;
(b) advising and consulting the Debtor on the conduct of its
Chapter 11 case, including all of the legal and administrative
requirements of operating in Chapter 11;
(c) attending meetings and negotiations with representatives
of creditors and other parties-in-interest;
(d) taking all necessary actions to protect and preserve the
Debtor's estate, including prosecuting actions on the Debtor's
behalf, defending any action commenced against the Debtor, and
representing the Debtor in negotiations concerning litigation in
which it is involved, including objections to claims filed against
the Debtor's estate;
(e) reviewing the nature and validity of agreements relating
to the Debtor's business and property, and advising the Debtor in
connection therewith;
(f) reviewing the nature and validity of liens, if any,
asserted against the Debtor and advising as to the enforceability
of such liens;
(g) advising the Debtor concerning the actions it might take
to collect and recover property for the benefit of its estate;
(h) preparing legal documents, and reviewing all financial
reports to be filed in the Debtor's Chapter 11 case;
(i) representing the Debtor in connection with obtaining
authority to continue using cash collateral and post-petition
financing;
(j) appearing before the bankruptcy court and any appellate
courts;
(k) advising the Debtor in connection with any potential sale
of its assets;
(l) advising the Debtor in connection with the formulation,
negotiation and promulgation of a Chapter 11 plan and litigation
with respect to competing plans; and
(m) other necessary legal services.
The Debtor paid the firm a flat fee of $8,500 as payment of fees
and $1,738 for the filing fee.
Adrienne Woods, Esq., a partner at The Law Offices of Adrienne
Woods, 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:
Adrienne Woods, Esq.
The Law Offices of Adrienne Woods, P.C.
105 West 86th Street, Suite 314
New York, NY 10024
Tel: (917) 447-4321
Email: adrienne@woodslawpc.com
About Adirondacks Protection Services
Adirondacks Protection Services, LLC sought protection for relief
under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No.
22-11536) on Nov. 20, 2022, listing $50,001 to $100,000 in assets
and $100,001 to $500,000 in liabilities. The case was transferred
to the U.S. Bankruptcy Court for the Eastern District of New York
and was assigned a new case number (Bankr. E.D.N.Y. Case No.
22-42927).
Adrienne Woods, Esq., at The Law Offices of Adrienne Woods, P.C.
serves as the Debtor's legal counsel while Vernon Consulting, Inc.
is the Debtor's financial advisor and accountant.
ADIRONDACKS PROTECTION: Taps Vernon Consulting as Accountant
------------------------------------------------------------
Adirondacks Protection Services, LLC seeks approval from the U.S.
Bankruptcy Court for the Eastern District of New York to hire
Vernon Consulting, Inc. as its accountant and financial advisor.
The firm's services include:
a. preparing the schedules and reports required by the
Debtor's Chapter 11 process;
b. assisting in the preparation of monthly operating reports;
and
c. other services as requested by the Debtor and agreed to by
Vernon during the pendency of this Chapter 11 case.
The firm will be paid a flat fee of $1,500.
Laura Patt, managing director at Vernon, disclosed in a court
filing that the firm is a "disinterested person" within the meaning
of Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
Laura W. Patt, CPA
Vernon Consulting, Inc.
344 E 65th St Apt 3c,
New York, NY 10065
Phone: (917) 822-7578
Email: lpatt@vernonconsulting.com
About Adirondacks Protection Services
Adirondacks Protection Services, LLC sought protection for relief
under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No.
22-11536) on Nov. 20, 2022, listing $50,001 to $100,000 in assets
and $100,001 to $500,000 in liabilities. The case was transferred
to the U.S. Bankruptcy Court for the Eastern District of New York
and was assigned a new case number (Bankr. E.D.N.Y. Case No.
22-42927).
Adrienne Woods, Esq., at The Law Offices of Adrienne Woods, P.C.
serves as the Debtor's legal counsel while Vernon Consulting, Inc.
is the Debtor's financial advisor and accountant.
ADVANCED REIMBURSEMENT: Seeks to Delay Plan Hearing Amid Mediation
------------------------------------------------------------------
Advanced Reimbursement Solutions, LLC and American Surgical
Development, LLC, request to continue the hearing on final approval
of the Debtors' Amended Disclosure Statement Dated Nov. 8, 2022 and
confirmation of the Amended Plan of Liquidation Dated Nov. 8, 2022
currently scheduled for January 10, 2023 at 1:30 p.m. to the week
of February 13th or 20th, 2023.
The Debtors, Aetna, United, the Maldonado Parties, and Maxon
participated in mediation with the Honorable Judge Collins on
December 20th and 21st, 2022. The mediation was productive,
particularly on the second day. However, the parties require at
least one additional day of mediation to achieve what they hope is
a fair and reasonable resolution. Currently, the parties anticipate
mediating on January 25, 2023 via Zoom. In the interim, the
Maldonado Parties intend to complete their financial disclosures,
and the parties are free to continue to discuss settlement ahead of
mediation.
The Debtors, as well as Aetna and United, believe it is important
to conclude mediation prior to the Combined Hearing so that the
results of mediation, and any impact it may have on the Debtors'
liquidation are known at the time of confirmation. Indeed, the
mediation is a significant event in these bankruptcy proceedings
and intended to address substantial estate claims against the
Maldonado Parties and Maxon, among other claims held by Aetna and
United. Accordingly, the Debtors believe it is in the estates' best
interests to continue the Combined Hearing.
Attorneys for the Debtors:
Philip J. Giles, Esq.
David B. Nelson, Esq.
ALLEN BARNES & JONES, PLC
1850 N. Central Ave., Suite 1150
Phoenix, AZ 85004
Tel: (602) 256-6000
Fax: (602) 252-4712
E-mail: pgiles@allenbarneslaw.com
dnelson@allenbarneslaw.com
About Advanced Reimbursement Solutions
Advanced Reimbursement Solutions, LLC, is a full cycle revenue
management enterprise specializing in out-of-network (OON) medical
services, patient advocacy, and proprietary billing software. The
company is based in Scottsdale, Ariz.
Advanced Reimbursement Solutions and its affiliate, American
Surgical Development, LLC, sought protection under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. D. Ariz. Lead Case No. 22-06372)
on Sept. 23, 2022. In the petitions signed by their chief
restructuring officer, Bryan Perkinson, the Debtors disclosed
between $10 million and $50 million in both assets and
liabilities.
The Debtors tapped Allen Barnes & Jones, PLC as legal counsel and
Bryan Perkinson, Sonoran Capital Advisors' managing director, as
chief restructuring officer.
AEARO TECHNOLOGIES: Fee Examiner Taps Jacobson as Legal Counsel
---------------------------------------------------------------
Judy Wolf Weiker, independent fee examiner of Aearo Technologies,
LLC and its affiliates, seeks approval from the U.S. Bankruptcy
Court for the Southern District of Indiana to employ Jacobson Hile
Kight, LLC as her legal counsel.
The firm's services include:
a. advising the fee examiner regarding her rights, duties and
obligations in the Debtors' Chapter 11 cases, and assisting her
with the legal issues that may arise during her appointment;
b. preparing and filing legal papers;
c. assisting the fee examiner at hearings and proceedings;
d. assisting the fee examiner with issues relating to local
rules and practice, including but not limited to: (i) assisting the
fee examiner in the preparation of preliminary and final reports
and applications regarding professional fees and expenses; (ii)
assisting the fee examiner in developing protocols and making
reports and recommendations regarding the fees and expenses of
retained professionals, and (iii) attending meetings between the
fee examiner and retained professionals; and
e. providing such other services and assistance as the fee
examiner may request and require.
The firm will be paid at these rates:
Andrew T. Kight, Partner $450 per hour
Michael W. Hile, Partner $450 per hour
Christine K. Jacobson, Partner $450 per hour
Karyn Tierney, Paralegal $175 per hour
As disclosed in court filings, Jacobson Hile Kight and its members
are "disinterested" within the meaning of Section 101(14) of the
Bankruptcy Code.
In accordance with Appendix B-Guidelines for reviewing fee
applications filed by attorneys in larger Chapter 11 cases,
Jacobson Hile Kight disclosed that:
-- it has not agreed to any variations from, or alternatives
to, its standard or customary billing arrangements for this
engagement;
-- none of the professionals included in the engagement vary
their rate based on the geographic location of the bankruptcy
cases;
-- the firm has not represented Ms. Weiker in her capacity as
fee examiner in these Chapter 11 cases in the 12 months prior to
the commencement of these cases; and
-- the firm has not submitted a prospective budget or staffing
plan to the fee examiner.
The firm can be reached through:
Andrew T. Kight, Esq.
Jacobson Hile Kight LLC
The Elliott House
108 E. 9th Street
Indianapolis, IN 46202
Phone: 317-608-1140
Email: akight@jhklegal.com
About Aearo Technologies
Aearo Technologies, LLC -- https://earglobal.com/en -- is a 3M
company that designs, manufactures, and sells personal protection
equipment. The Indianapolis-based company serves customers
worldwide.
To address claims related to the Combat Arms Earplugs Version 2,
Aearo Technologies 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 listed $1
billion to $10 billion in both assets and liabilities.
The Debtors tapped Kirkland & Ellis and Ice Miller, LLP as
bankruptcy counsels; McDonald Hopkins, LLC as special counsel;
Bates White, LLC as claims valuation consultant; AP Services, LLC
as restructuring advisor; and Kroll, LLC as claims agent and
noticing agent. John R. Castellano, managing director at
AlixPartners LLP, an affiliate of AP Services, serves as the
Debtors' chief restructuring officer.
Judge Jeffrey J. Graham oversees the cases.
The U.S. Trustee for Region 10 appointed two separate official
committees to represent tort claimants in the Debtors' cases. The
tort claimants assert claims related to the use of faulty combat
arms earplugs and respirators manufactured by the companies.
The tort committee related to use of combat arms version 2 earplugs
tapped Otterbourg P.C. and KTBS Law, LLP as bankruptcy counsels;
Rubin & Levin, P.C. as Indiana counsel; Brown Rudnick, LLP and
Caplin & Drysdale, Chartered as special counsels; Houlihan Lokey
Capital, Inc. as investment banker; Province, LLC as financial
advisor; and Stretto, Inc. as information agent.
Meanwhile, the other committee is represented by the law firm of
Rochelle McCullough, LLP.
AKOUSTIS TECHNOLOGIES: Acquires GDSI for $20 Million
----------------------------------------------------
Akoustis Technologies, Inc. said it has acquired Grinding and
Dicing Services, Inc. ("GDSI"), a US-based provider of premium
back-end semiconductor supply chain services. Akoustis'
acquisition of GDSI is expected to support a strategy to reshore
its packaging of XBAW filters to the United States and to support
its anticipated application for funding under the CHIPS and Science
Act.
U.S. Senator Charles Schumer said, "Today's announcement that
Akoustis is bringing new job-creating semiconductor technology back
to America, and specifically to Upstate New York, is another
example of the economic benefits made possible by my CHIPS and
Science Act. Akoustis' new capabilities will both enhance and
expand the Finger Lakes region's semiconductor industry, which is
already home to unique assets in the semiconductor packaging
space."
The rationale for the acquisition and expected benefits include:
* The addition of a diverse, high-margin premium services
business that is immediately accretive to the Company's operating
model. The gross margins of this new business unit are projected
to be approximately 60%
* Achievement of $1M in cost savings/avoidance related to RF
filter prototype activity within the next 18 months
* Strategic alignment with Akoustis' strategy to leverage the
CHIPS Act of 2022 to create new jobs as the Company reshores core
packaging capabilities from Asia to an advanced packaging center
located on its Canandaigua campus in upstate New York.
Specifically, this acquisition allows the opportunity to scale-up
the Company's backend core competencies including wafer grinding
and Stealth Dicing process capabilities supporting its CSP and WLP
on-shore package manufacturing
* It will drive improved rapid prototype and development cycle
time for Akoustis XBAW filters through back-end process integration
and supply chain efficiencies
* Integration of onshore front-end and back-end supply chains
supporting national security
* New, synergistic sales channels in the defense market,
including an active "Trusted Supplier" accreditation with the
Department of Defense
* The addition of the GDSI management team along with
significant technical talent in wafer grinding and dicing to
complement Akoustis' front-end XBAW technology
* The expansion of XBAW RF filter margins through the
internalization of the grinding and dicing process supply chains
Jeff Shealy, founder and CEO of Akoustis, stated, "I am pleased to
welcome Joe Collins along with the entire GDSI team to the Akoustis
family. We look forward to expanding our internal supply chain
capabilities and supporting the growth of GDSI's business with
external customers." Mr. Shealy continued, "The acquisition of
GDSI will enable Akoustis to speed the development of our leading
XBAW filters to take on the rapidly expanding demand for BAW
filters that operate at frequencies above 3 GHz."
Financial Terms
Akoustis is paying $14 million in cash and $2 million in stock for
GDSI, with an additional $4 million in the form of a secured
promissory note payable over 3 years based on key employee
retention and agreed upon performance, for a total of $20 million.
In connection with the transaction, and as an inducement for
employment, the company granted to Mr. Collins 242,235 shares of
common stock, with an additional 242,235 shares issuable on the
second anniversary of the transaction and 121,118 shares issuable
on the third anniversary of the transaction, subject to certain
employment conditions.
Akoustis continues to experience strong demand and a growing sales
funnel for its Wi-Fi, 5G mobile, and 5G infrastructure products,
including CBRS XBAW filters, as well as its new XBAW and RFMi
resonator and oscillator products. During the last quarter, the
Company shipped multiple samples of its new 5G XBAW wafers complete
with its new, advanced wafer-level packaging (WLP) technology.
Akoustis continues to add new Wi-Fi design wins, many of which are
expected to ramp into production in calendar 2023.
Akoustis is actively delivering volume production of its Wi-Fi 6
tandem filter solutions, shipping multiple 5G small cell XBAW
filter solutions, and delivering initial designs of its new 5G
mobile filter solutions to multiple customers and is now entering
the market with its new Wi-Fi 6E coexistence XBAW filter solutions.
To date, Akoustis has received more than 20 customer design wins
for its patented XBAW filter solutions.
Given the rapidly growing sales funnel activity, as well as ongoing
interaction with customers regarding expected ramps in 5G mobile,
Wi-Fi 6, and Wi-Fi 6E in calendar 2023, the Company is completing
the annual production capacity increase at its New York fab to
approximately 0.5 billion filters per year.
About Akoustis Technologies
Headquartered in Huntersville, NC, Akoustis Technologies, Inc. is
focused on developing, designing, and manufacturing innovative RF
filter products for the mobile wireless device industry, including
for products such as smartphones and tablets, cellular
infrastructure equipment, and WiFi premise equipment.
Akoustis reported a net loss of $59.19 million for the year ended
June 30, 2022, a net loss of $44.15 million for the year ended June
30, 2021, a net loss of $36.14 million for the year ended June 30,
2020, and a net loss of $29.25 million for the year ended June 30,
2019. As of Sept. 30, 2022, the Company had $144.66 million in
total assets, $57.97 million in total liabilities, and $86.68
million in total stockholders' equity.
ALLEN MEDIA: Fidelity Fund Marks $40.7M Loan at 16% off
-------------------------------------------------------
Fidelity Advisor Value Fund, a fund of Fidelity Advisor Series I,
has marked its $40,756,000 loan extended to Allen Media to market
at $34,041,000, or 84% of the outstanding amount, as of October 31,
2022, according to a disclosure contained in its Form N-CSR for the
fiscal year ended October 31, 2022, filed with the Securities and
Exchange Commission on December 21.
Fidelity Advisor Value Fund extended a Tranche B first lien term
loan that carries 9.2032% interest (1 month U.S. LIBOR + 5.500%) to
Allen Media. The loan is scheduled to mature on Feb 10, 2027.
Fidelity Advisor Value Fund is a fund of Fidelity Advisor Series I,
a Trust that is registered under the Investment Company Act of
1940, as amended, as an open-end management investment company
organized as a Massachusetts business trust. Fidelity Management &
Research Company LLC (FMR) serves as investment manager.
Allen Media LLC operates as a media company. The Company
specializes in video production, photography, senior pictures,
business portraits, graphic design work, photo editing, and
screenplay analysis services.
ALTERA INFRASTRUCTURE: Emerges from Chapter 11 Process
------------------------------------------------------
Altera Infrastructure L.P. and certain of its subsidiaries
("Altera"), one of the world's leading suppliers of infrastructure
assets to the offshore energy industry, on Jan. 9 disclosed that it
has emerged from the chapter 11 process in the United States
Bankruptcy Court for the Southern District of Texas after
successfully consummating its chapter 11 plan of reorganization
(the "Plan").
The restructuring, which was consummated approximately five months
after the chapter 11 cases were commenced, addressed more than $1
billion of secured and unsecured holding company debt, $400 million
of preferred equity, and $550 million of secured asset-level bank
debt (including unsecured guarantees of such debt issued by Altera
Infrastructure L.P.). With the support of substantially all of
Altera's lenders, including Brookfield Business Partners L.P., and
certain of its affiliates and institutional partners, the
restructuring comprehensively reprofiled Altera's bank loan
facilities to better align cash flow with debt service obligations,
and equitized more than $1 billion in junior debt obligations.
The restructuring also enabled Altera to reach an agreement with
Equinor UK Limited for a bareboat charter (the "Equinor Contract")
in respect of the Petrojarl Knarr FPSO vessel--the Debtors' most
significant asset, which served as one of the key drivers in the
restructuring. The asset is set to be deployed for the Rosebank
field development project, pending final investment decision and
regulatory approvals. The Equinor Contract is firm for nine, with
options up to a total of 25 years. The contract also provides
liquidity for substantial capex upgrades to the FPSO. As such, the
Equinor Contract allows Altera to utilize the Petrojarl Knarr FPSO
to generate significant cash flows and value to the business.
Ingvild Sæther, President and Chief Executive Officer of Altera
Infrastructure Group Ltd., commented: "We are pleased to announce
the consummation of our financial restructuring. Our goal was to
better position Altera for growth and a sustainable future, and the
restructuring has done just that. We are grateful for the support
that our lenders and bondholders, including Brookfield Business
Partners L.P., has demonstrated throughout this process. Our
employees, customers and vendors are of the utmost importance to
us, and we are committed to continue to develop sustainable
solutions for the industry in the years ahead. We are very excited
for what is to come for Altera."
Additional Information
Additional information about the Company's Chapter 11 cases,
including access to Court filings and other documents related to
the restructuring process, is available at
https://cases.stretto.com/Altera or by calling Altera's
restructuring information line at +(949) 266-0151 (international)
or (855) 300-3407 (toll free in the U.S.).
Kirkland & Ellis LLP is serving as the Company's restructuring
counsel, Jackson Walker LLP is serving as local counsel, FTI
Consulting, Inc. is serving as financial advisor, Evercore is
acting as investment banker, and Stretto is acting as claims and
noticing agent.
About Altera Infrastructure L.P.
Westhill, United Kingdom-based Altera Infrastructure L.P. (NYSE:
ALIN-A) is a global energy infrastructure services partnership
primarily focused on the ownership and operation of critical
infrastructure assets in the offshore oil regions of the North Sea,
Brazil and the East Coast of Canada. Altera has consolidated assets
of approximately $3.8 billion comprised of 44 vessels, including
floating production, storage and offloading (FPSO) units, shuttle
tankers, floating storage and offtake (FSO) units, long-distance
towing and offshore installation vessels and a unit for maintenance
and safety (UMS). The majority of Altera's fleet is employed on
medium-term, stable contracts.
After agreeing to a debt-for-equity plan with bank lenders and
owner Brookfield, Altera Infrastructure LP and 37 affiliates sought
Chapter 11 protection (Bankr. S.D. Texas Lead Case No. 22-90130) on
Aug. 12, 2022. Judge Marvin Isgur oversees the cases.
As of the petition date, the Debtors were liable for approximately
$1.6 billion in aggregate principal amount of funded debt.
Kirkland & Ellis LLP, Jackson Walker LLP, and Quinn Emanuel
Urquhart & Sullivan LLP serve as the Debtors' lead counsel, local
counsel, and special counsel, respectively. The Debtors also
tapped Evercore Group LLC as investment banker and
PricewaterhouseCoopers LLP as tax compliance, tax consulting, and
accounting advisory services provider. David Rush, senior managing
director at FTI Consulting, Inc., serves as restructuring advisor
to the Debtors. Stretto is the claims agent.
The DIP Lenders are represented by Paul, Weiss, Rifkind, Wharton &
Garrison LLP, as counsel to the DIP Lenders, Ducera Partners LLC,
as financial advisor, and Porter & Hedges LLP, as their Texas
counsel.
The U.S. Trustee for Region 7 appointed an official committee of
unsecured creditors on Aug. 22, 2022. The unsecured creditors
committee tapped Friedman Kaplan Seiler & Adelman, LLP and
Pachulski Stang Ziehl & Jones, LLP as legal counsel; and
AlixPartners, LLP as financial advisor.
A committee of coordinators was appointed under and as defined in
the appointment letter originally dated May 6, 2022, among Altera
Infrastructure LP and each member of the CoCom. The CoCom is
represented by Norton Rose Fulbright US, LLP and Norton Rose
Fulbright, LLP as legal counsel and PJT Partners (UK) Ltd. As
financial advisor.
The Noteholder Ad Hoc Group tapped Vinson & Elkins LLP and
Wachtell, Lipton, Rosen & Katz as its attorneys.
ALTOSGROUPS LLC: Case Summary & 14 Unsecured Creditors
------------------------------------------------------
Debtor: AltosGroups, LLC
109 Ambersweet Way, #362
Davenport, FL 33897
Chapter 11 Petition Date: January 9, 2023
Court: United States Bankruptcy Court
Middle District of Florida
Case No.: 23-00048
Debtor's Counsel: Daniel A. Velasquez, Esq.
LATHAM LUNA EDEN & BEAUDINE LLP
201 S. Orange Avenue
Suite 1400
Orlando, FL 32801
Tel: (407) 481-5800
Fax: (407) 481-5801
Email: dvelasquez@lathamluna.com
Total Assets: $4,662,769
Total Liabilities: $286,973,940
The petition was signed by David Ingram as president.
A full-text copy of the petition is available for free at
PacerMonitor.com at:
https://www.pacermonitor.com/view/TEQ7LAI/AltosGroups_LLC__flmbke-23-00048__0001.0.pdf?mcid=tGE4TAMA
List of Debtor's 14 Unsecured Creditors:
Entity Nature of Claim Claim Amount
1. 900 Broadway KC Loan $14,982,602
Development LLC
222 E. Dunklin, Ste. 102
Jefferson City, MO 65101
2. A&B Kanab Hotels LLC Loan $3,928,129
c/o Satesh Sam Patel, Esq.
162 N 400 East,
Suite A-204
Saint George, UT 84770
3. CKlomhaus LLC Loan $14,982,602
8016 Centrebridge Drive
Longmont, CO 80503
4. Jeffrey Shanahan Loan $14,982,602
13900 Crabapple Rd.
Golden, CO 80401
5. Maumee Point LLC Loan $14,894,992
112 Old English Drive
Ste. 200
Rochester, NY 14616
6. Mutual Credit Corporation Loan $18,000,000
c/o Anthony Jacobson
1601 Dove St. #2511
Newport Beach, CA 92660
7. Oak Holdings, LLC Loan $14,982,602
c/o Mark Nathanson
Registered Agent
14510 Amstel Court
Chesterfield, MO 63017
8. One10 Hotel Holdings, LLC Loan $63,000,000
202 Water Street,
Ste. 202
Excelsior, MN 55331
9. One10 Hotel HRKC, LLC Loan $63,000,000
c/o Registered Agent Solutions
838 Walker Rd., Ste. 21-2
Dover, DE 19904
10. Pedersen Development Loan $14,982,602
Company LLC
P.O. Box 328
Boulder, CO 80306
11. Remsk, LLC Loan $14,982,692
1710 Redwood Ave.
Boulder, CO 80304
12. Scott J. Pedersen Loan $14,982,602
11546 Eagle Springs Trail
Longmont, CO 80503
13. Shanahan Development Loan $14,982,602
Company LLC
1509 York St., Ste. 2O
Denver, CO 80206
14. The Boulevard Loan $1,289,912
Sarasota, LLC
c/o Tyler Peacock, Esq.
Gardner Skelton, PLLC
505 East Boulevard
Charlotte, NC 28203
ALTOSGROUPS LLC: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: AltosGroups, LLC
109 Ambersweet Way #362
Davenport, FL 33897
Chapter 11 Petition Date: January 9, 2023
Court: United States Bankruptcy Court
Middle District of Florida
Case No.: 23-00049
Debtor's Counsel: Daniel A. Velasquez, Esq.
LATHAM LUNA EDEN & BEAUDINE LLP
201 S. Orange Avenue
Suite 1400
Orlando, FL 32801
Tel: (407) 481-5800
Fax: (407) 481-5801
Email: dvelasquez@lathamluna.com
Total Assets: $4,663,169
Total Liabilities: $288,991,277
The petition was signed by David Ingram as president.
A full-text copy of the petition is available for free at
PacerMonitor.com at:
https://www.pacermonitor.com/view/TC5UXGI/AltosGroups_LLC__flmbke-23-00049__0001.0.pdf?mcid=tGE4TAMA
List of Debtor's 20 Largest Unsecured Creditors:
Entity Nature of Claim Claim Amount
1. 900 Broadway KC Loan $14,982,602
Development LLC
222 E. Dunklin, Ste. 102
Jefferson City, MO 65101
2. A&B Kanab Hotels LLC Loan $3,928,129
c/o Satesh Sam Patel, Esq.
162 N 400 East,
Suite A-204
Saint George, UT 84770
3. Cklomhaus LLC Loan $14,982,602
8016 Centrebridge Drive
Longmont, CO 80503
4. Dougherty Funding, LLC Loan $488,236
90 South 7th Street
Suite 4300
Minneapolis, MN 55402
5. Floyd Blackwell Trade Debt $78,464
20609 Cornelius Street
Cornelius, NC 28031
6. Jeffrey Shanahan Loan $14,982,602
13900 Crabapple Rd.
Golden, CO 80401
7. Land Advisors Capital Loans $979,485
4900 N Scottsdale Rd.
Suite 3000
Scottsdale, AZ 85251
8. Lidia Magali Ingram Loans $208,793
109 Ambersweet
Way #362
Davenport, FL 33897
9. Marcus & Millichap Loan $94,800
Capital Corp.
515 S. Flower St.
Suite 500
Los Angeles, CA 90071
10. Maumee Point LLC Loan $17,894,992
112 Old English Drive
Suite 200
Rochester, NY 14616
11. Mutual Credit Corporation Money Loaned $18,000,000
c/o Anthony Jacobson
1601 Dove St. #2511
Newport Beach, CA 92660
12. Oak Holdings, LLC Loan $14,982,602
c/o Mark Nathanson
Registered Agent
14510 Amstel Court
Chesterfield, MO 63017
13. One10 Hotel Loan $63,000,000
Holdings, LLC
202 Water Street,
Ste. 202
Excelsior, MN 55331
14. One10 Hotel HRKC, LLC Money Loaned $63,000,000
c/o Registered
Agent Solutions
838 Walker Rd., Ste. 21-2
Dover, DE 1990
15. Pedersen Development Loan $14,982,602
Company LLC
P.O. Box 328
Boulder, CO 80306
16. Remsk, LLC Loan $14,982,602
1710 Redwood Ave.
Boulder, CO 80304
17. Sanberg & Phoenix Professional $82,088
P.O. Box 790051 Services
Saint Louis, MO
63179-0051
18. Scott J. Pedersen Loan $14,982,602
11546 Eagle Springs Trail
Longmont, CO 80503
19. Shanahan Development Loan $14,982,602
Company LLC
1509 York St., Ste. 2O
Denver, CO 80206
20. The Boulevard Loan $1,289,912
Sarasota, LLC
c/o Tyler B. Peacock, Esq.
505 East Blvd.
Charlotte, NC 28203
AMC ENTERTAINMENT: $2B Bank Debt Trades at 42% Discount
-------------------------------------------------------
Participations in a syndicated loan under which AMC Entertainment
Holdings Inc is a borrower were trading in the secondary market
around 57.9 cents-on-the-dollar during the week ended Friday,
January 6, 2023, according to Bloomberg's Evaluated Pricing service
data.
The $2 billion facility is a Term loan that is scheduled to mature
on April 22, 2026. About $1.93 billion of the loan is withdrawn
and outstanding.
AMC Entertainment Holdings, Inc. is a theatrical exhibition
company. The Company is principally engaged in the theatrical
exhibition business and owns, operates, or has interests in
theaters primarily located in the United States and Europe.
ASURION LLC: $1.64B Bank Debt Trades at 19% Discount
----------------------------------------------------
Participations in a syndicated loan under which Asurion LLC is a
borrower were trading in the secondary market around 81.3
cents-on-the-dollar during the week ended Friday, January 6, 2023,
according to Bloomberg's Evaluated Pricing service data.
The $1.64 billion facility is a Term loan that is scheduled to
mature on February 3, 2028. The amount is fully drawn and
outstanding.
Asurion, LLC provides wireless handset insurance services. The
Company offers replacement of lost, stolen, damaged, and
malfunctioning devices, as well as roadside assistance programs,
technical support, mobile security devices, and electronics
protection.
ASURION LLC: Fidelity Fund Marks $54.6M Loan at 30% Off
-------------------------------------------------------
Fidelity Advisor Value Fund, a fund of Fidelity Advisor Series I,
has marked its $54,643,000 loan extended to Asurion LLC to market
at $38,284,000, or 70% of the outstanding amount, as of October 31,
2022, according to a disclosure contained in its Form N-CSR for the
fiscal year ended October 31, 2022, filed with the Securities and
Exchange Commission on December 21.
Fidelity Advisor Value Fund extended a Tranche B3 second lien term
loan that carries a 9.0039% interest (1 month U.S. LIBOR + 5.250%)
to Asurion LLC. The loan is scheduled to mature on January 31,
2028.
Fidelity Advisor Value Fund is a fund of Fidelity Advisor Series I,
a Trust that is registered under the Investment Company Act of
1940, as amended, as an open-end management investment company
organized as a Massachusetts business trust. Fidelity Management &
Research Company LLC (FMR) serves as investment manager.
Asurion LLC provides wireless handset insurance services. The
company offers replacement of lost, stolen, damaged, and
malfunctioning devices, as well as roadside assistance programs,
technical support, mobile security devices, and electronics
protection.
ASURION LLC: Fidelity Fund Marks $57.9M Loan at 31% Off
-------------------------------------------------------
Fidelity Advisor Value Fund, a fund of Fidelity Advisor Series I,
has marked its $57,985,000 loan extended to Asurion LLC to market
at $40,155,000, or 69% of the outstanding amount, as of October 31,
2022, according to a disclosure contained in its Form N-CSR for the
fiscal year ended October 31, 2022, filed with the Securities and
Exchange Commission on December 21.
Fidelity Advisor Value Fund extended a Tranche B4 second lien term
loan that carries a 9.0039% interest (1 month U.S. LIBOR + 5.250%)
to Asurion LLC. The loan is scheduled to mature on January 20,
2029.
Fidelity Advisor Value Fund is a fund of Fidelity Advisor Series I,
a Trust that is registered under the Investment Company Act of
1940, as amended, as an open-end management investment company
organized as a Massachusetts business trust. Fidelity Management &
Research Company LLC (FMR) serves as investment manager.
Asurion LLC provides wireless handset insurance services. The
company offers replacement of lost, stolen, damaged, and
malfunctioning devices, as well as roadside assistance programs,
technical support, mobile security devices, and electronics
protection.
ATLAS PURCHASER: $250M Bank Debt Trades at 33% Discount
-------------------------------------------------------
Participations in a syndicated loan under which Atlas Purchaser Inc
is a borrower were trading in the secondary market around 67.5
cents-on-the-dollar during the week ended Friday, January 6, 2023,
according to Bloomberg's Evaluated Pricing service data.
The $250 million facility is a Term loan that is scheduled to
mature on May 18, 2029. The amount is fully drawn and
outstanding.
Atlas Purchaser, Inc., which does business as Alvaria, Inc.,
acquired the assets of Aspect Software in a leveraged buyout in
2021. Aspect is a provider of call center software and solutions.
AUTOVOCITY TRANSPORT: Taps The Lane Law Firm as Bankruptcy Counsel
------------------------------------------------------------------
AutoVocity Transport, LLC seeks approval from the U.S. Bankruptcy
Court for the Southern District of Texas to hire The Lane Law Firm,
PLLC as its counsel.
The firm's services include:
a. advising the Debtor regarding the administration of its
Chapter 11 case;
b. assisting the Debtor in analyzing its assets and
liabilities, investigating the extent and validity of lien and
claims, and participating in and reviewing any proposed asset sales
or dispositions;
c. attending meetings and negotiating with representatives of
secured creditors;
d. assisting the Debtor in the preparation, analysis and
negotiation of any plan of reorganization and disclosure statement
accompanying the plan;
e. taking all necessary actions to protect and preserve the
interests of the Debtor;
f. appearing in courts; and
g. performing all other necessary legal services for the
Debtor.
The firm will be paid at these rates:
Partners $550 per hour
Supervising Attorneys $475 per hour
Associates $350 to $400 per hour
Paralegals $125 to $175 per hour
The retainer is $30,000.
In addition, the firm will receive reimbursement for its
out-of-pocket expenses.
Robert Lane, Esq., a partner at The Lane 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 C. Lane, Esq.
Joshua D. Gordon, Esq.
The Lane Law Firm
6200 Savoy, Suite 1150
Houston, TX 77036
Tel: (713) 595-8200
Fax: (713) 595-8201
Email: notifications@lanelaw.com
Joshua.gordon@lanelaw.com
About AutoVocity Transport
AutoVocity Transport, LLC is a car and motorcycle shipping agent in
Houston.
AutoVocity Transport filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. S.D. Texas Case No.
22-33814) on Dec. 22, 2022, with $125,188 in assets and $1,029,408
in liabilities. Rafael Dominguez, owner of AutoVocity Transport,
signed the petition.
Judge Eduardo V. Rodriguez oversees the case.
Robert Chamless Lane, Esq., at The Lane Law Firm represents the
Debtor as counsel.
AUTOVOCITY TRANSPORT: Wins Cash Collateral Access Thru Jan 31
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Texas,
Houston Division, authorized Autovocity Transport, LLC to use cash
collateral on an interim basis in accordance with the budget, with
a 10% variance, through January 31, 2023.
The Debtor requires the use of cash collateral for payroll,
supplies, and other general operating expenses.
The Debtor produces revenue from its transportation business and
would use the revenue to pay the budgeted expenses.
A search in the Texas Secretary of State shows that allegedly
secured positions are held by the U.S. Small Business
Administration, MCA Servicing, Samson Horus, Byzfunder, Simply
Funding, Vivian Capital, Vault 26 Capital, Novus Capital, and G and
G Funding Group LLC.
As adequate protection for the use of cash collateral, the parties
are granted replacement liens on all post-petition cash collateral
and post-petition acquired property to the same extent and priority
they possessed as of the Petition Date.
A final electronic hearing on the matter is for January 31 at 1:30
p.m.
A copy of the motion is available at https://bit.ly/3k0KK8X from
PacerMonitor.com.
A copy of the order is available at https://bit.ly/3inegFg from
PacerMonitor.com.
About AutoVocity Transport, LLC
AutoVocity Transport, LLC is a car and motorcycle shipping agent in
Houston, Texas. The Debtor sought protection under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 22-33814) on
December 22, 2022. In the petition signed by Rafael Dominguez,
owner, the Debtor disclosed $125,188 in assets and $1,029,408 in
liabilities.
Judge Eduardo V. Rodriguez oversees the case.
Robert C. Lane, Esq., at the Lane Law Firm, is the Debtor's legal
counsel.
BEER REPUBLIC BREWING: Commences Subchapter V Case
--------------------------------------------------
Beer Republic Brewing LLC filed for chapter 11 protection in the
Northern District of Georgia. The Debtor elected on its voluntary
petition to proceed under Subchapter V of chapter 11 of the
Bankruptcy Code.
According to court filings, Beer Republic Brewing estimates between
$1 million and $10 million in debt owed to 1 to 49 creditors. The
petition states that funds will be available to unsecured
creditors.
A meeting of creditors under 11 U.S.C. Section 341(a) is slated for
Jan. 27, 2023, at 9:30 AM.
Non-government proofs of claim are due by March 13, 2023.
About Beer Republic Brewing
Beer Republic Brewing LLC is an American microbrewery company.
Beer Republic Brewing LLC filed a petition for relief under
Subchapter V of Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ga.
Case No. 23-50032) on Jan. 2, 2022. In the petition filed by David
Rice, as principal, CEO and co-manager, the Debtor reported assets
and liabilities between $1 million and $10 million.
The Debtor is represented by:
Henry F. Sewell, Jr., Esq.
Law Offices of Henry F. Sewell, Jr., LLC
394 North Clayton St.
Lawrenceville, GA 30046
The Subchapter V trustee appointed in the case:
Gary Murphey
3330 Cumberland Blvd., Suite 500
Atlanta, GA 30330
Tel: 770-933-6855
Email: Murphey@RFSLimited.com
BETTER WAY OF LIFE: Taps Weiss Law Group as Bankruptcy Counsel
--------------------------------------------------------------
A Better Way of Life, LLC seeks approval from the U.S. Bankruptcy
Court for the District of Columbia to employ The Weiss Law Group,
LLC as its legal counsel.
The Debtor needs the firm's legal assistance to:
(a) file the required schedules, statements and reports;
(b) settle negotiations;
(c) administer the bankruptcy estate;
(d) file necessary motions;
(e) defend the Debtor in any contested matters or adversary
proceedings in this court; and
(f) seek approval of the disclosure statement and reorganization
plan.
The firm will be paid an hourly fee of $595 and will be reimbursed
for out-of-pocket expenses incurred.
Brett Weiss, Esq., a partner at The Weiss Law Group, disclosed in a
court filing that his firm is a "disinterested person" as that term
is defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
Brett Weiss, Esq.
The Weiss Law Group, LLC
8843 Greenbelt Road, Suite 299
Greenbelt, MD 20770
Telephone: (301) 924-4400
Facsimile: (240) 627-4186
Email: brett@BankruptcyLawMaryland.com
About A Better Way of Life
A Better Way of Life, LLC filed a Chapter 11 bankruptcy petition
(Bankr. D.D.C. Case No. 22-00228) on Dec. 8, 2022, with as much as
$1 million in both assets and liabilities. Judge Elizabeth L. Gunn
oversees the case.
The Debtor is represented by Brett Weiss, Esq., at The Weiss Law
Group, LLC.
BLOK INDUSTRIES: Case Summary & Seven Unsecured Creditors
---------------------------------------------------------
Debtor: Blok Industries, Inc.
1515 East Hewett Rd.
Santa Rosa Beach, FL 32459
Chapter 11 Petition Date: January 9, 2023
Court: United States Bankruptcy Court
Northern District of Florida
Case No.: 23-30019
Debtor's Counsel: Edward J. Peterson, Esq.
STICHTER, RIEDEL, BLAIN & POSTLER, P.A.
110 E. Madison St.
Suite 200
Tampa, FL 33602
Tel: (813) 229-0144
Email: epeterson@srbp.com
Estimated Assets: $0 to $50,000
Estimated Liabilities: $1 million to $10 million
The petition was signed by Karen Davidson as president.
A copy of the Debtor's list of seven unsecured creditors is
available for free at PacerMonitor.com at:
https://www.pacermonitor.com/view/T7TGZ3I/Blok_Industries_Inc__flnbke-23-30019__0002.0.pdf?mcid=tGE4TAMA
A full-text copy of the petition is available for free at
PacerMonitor.com at:
https://www.pacermonitor.com/view/TX6CIJQ/Blok_Industries_Inc__flnbke-23-30019__0001.0.pdf?mcid=tGE4TAMA
BRIGHTHOUSE GREEN: Files Emergency Bid to Use Cash Collateral
-------------------------------------------------------------
Brighthouse Green Home Cleaning, LLC asks the U.S. Bankruptcy Court
for the Middle District of Tennessee, Nashville Division, for
authority to use cash collateral in accordance with the budget,
with a 10% variance and provide adequate protection.
In addition to the expenses set forth in the Budget, the Debtor
requests a carveout and authority to use cash collateral for
payment of: (i) allowed professional fees and disbursements to
professionals whose employment has been approved by the Court; (ii)
allowed fees and disbursements, including monies to be escrowed, to
the Subchapter V Trustee appointed in the case; and (iii) any fees
payable to the Clerk of the Bankruptcy Court.
As of the Petition Date, the U.S. Small Business Administration
(EIDL), Cadence Bank (SBA 7a loan), Rapid Finance, and the LCF
Group are the only entities the Debtor is aware of that may
rightfully claim a security interest in cash collateral. However,
only the SBA (EIDL) is believed to be the holder of a secured claim
pursuant to 11 U.S.C. section 506(a).
Based on a lien review conducted by the Debtor prior to the
Petition Date, the SBA filed a UCC-1 financing statement dated July
5, 2020 with a security interest in substantially all of the
Debtor's assets, including cash collateral. The security interest
was granted in connection with the SBA EIDL with a principal
balance as of the Petition Date in the amount of $627,356. The
total value of the Debtor's assets is substantially less. By
operation of 11 U.S.C. section 506(a), the SBA's secured claim is
limited to the value of the collateral, making any purported junior
liens wholly unsecured. The Debtor does not dispute the validity,
priority, and extent of any liens asserted by the Secured
Creditors.
As for adequate protection for the limited use of cash collateral,
the Debtor proposes to provide to the Secured Creditors replacement
liens in accordance with 11 U.S.C. sections 361(2) and 552(b) to
the extent of cash collateral actually expended, and on the same
assets and in the same order of priority as currently exists. Any
replacement lien will be to the same extent and with the same
validity and priority as the Secured Creditors' pre-petition liens,
without the need to file or execute any document as may otherwise
be required under applicable nonbankruptcy law.
A copy of the motion is available at https://bit.ly/3itzh0X from
PacerMonitor.com.
About Brighthouse Green Home Cleaning, LLC
Brighthouse Green Home Cleaning, LLC is locally operated provider
of maid service in Nashville, Brentwood and Franklin. The Company
prides itself in using all-natural and allergy-reducing products,
including HEPA filtrations, microfiber and recyclable packaging.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. M.D. Tenn. Case No. 23-00035) on June 6,
2023. In the petition signed by Jason Adkins, managing owner, the
Debtor disclosed $52,590 in assets and $2.814 milion in
liabilities.
Robert Gonzales, Esq., at Emergelaw, PLC, represents the Debtor as
legal counsel.
BURKE BRANDS: Files Emergency Bid to Use Cash Collateral
--------------------------------------------------------
Burke Brands, LLC, dba Don Pablo Coffee, asks the U.S. Bankruptcy
Court for the U.S. Bankruptcy Court for the Southern District of
Florida, Miami Division, for authority to use the cash collateral
of U.S. Century Bank/U.S. Small Business Administration on an
emergency basis.
The Debtor requires the use of the cash collateral for the
continued operation of its business in the ordinary course and the
Debtor is willing to provide the Lender with adequate protection of
its secured interest in the cash collateral.
As of the filing date, the Debtor owed the Lender $3.794 million.
The first loan is a USCB/SBA 7A loan with a balance of $1.946
million. The monthly payments on this loan are $31,613. The
indebtedness is secured by, inter alia, Promissory Note, Commercial
Security Agreement, and Guaranty dated January 13, 2021, and UCC
financing statement filed in the Florida Secured Transaction
Registry on January 28, 2021 ID number 202105909769. The resulting
security interest includes but is not limited to the Debtor's
accounts receivable and cash.
The second loan is a USCB/SBA 504 loan where both the Debtor and
Burke Brands 1395 LLC are the borrowers, and which is secured by a
first mortgage on the 1395 Property plus an assignment of rents,
with a balance of $1.848 million and monthly payments of $22,023.
The UCSB Mortgage was utilized to purchase commercial property
located at 1390 and 1395 Northwest 22nd Street, Miami, Florida
33127. In addition, the loan provided working capital to the
Debtor.
In order to (i) adequately protect the Lender in connection with
the Debtor's use of the cash collateral, and (ii) provide the
Lender with additional adequate protection in respect to any
decrease in the value of its interests in the Property and cash
collateral resulting from the stay imposed under section 362 of the
Bankruptcy Code, or the use of the Collateral by the Debtor, the
Debtor would offer as adequate protection of the Lender's
collective lien, a first priority post-petition lien on all cash
generated by the Debtor's services post-petition.
A copy of the motion and the Debtor's budget is available at
https://bit.ly/3jRpdze from PacerMonitor.com.
The Debtor projects $1,614,706 in total cash receipts and
$1,611,101 in total disbursements.
About Burke Brands LLC
Burke Brands LLC -- https://www.burkebrands.com/ -- is a privately
owned coffee company.
Burke Brands LLC filed a petition for relief under Subchapter V of
Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No.
22-19932) on Dec. 30, 2022. In the petition filed by Darron Burke,
as manager, the Debtor reported assets and liabilities between $1
million and $10 million.
Linda Marie Leali has been appointed as Subchapter V trustee.
The Debtor is represented by Aaron A Wernick, Esq., at Wernick Law,
PLLC.
CAMBER ENERGY: Regains Compliance With NYSE Listing Standards
-------------------------------------------------------------
Camber Energy, Inc. said that on Jan. 3, 2023, it received a letter
from the NYSE American LLC advising that the deficiency set forth
in the Exchange's notification letter to the Company on Nov. 7,
2022 has now been resolved and the Company is back in compliance
with the Exchange's continued listing standards set forth in
Section 1003(f)(v) of the NYSE American Company Guide.
On Nov. 7, 2022, Camber Energy received a deficiency letter from
the NYSE indicating that the Company is not in compliance with the
NYSE American continued listing standard set forth in Section
1003(f)(v) of the NYSE American Company Guide because its shares of
common stock, par value $0.001 per share have been selling for a
substantial period of time at a low price per share, which NYSE
American determined to be a 30-day trading average price of less
than $0.20 per share.
About Camber Energy
Based in Houston, Texas, Camber Energy, Inc. --
http://www.camber.energy-- is a growth-oriented diversified energy
company. Through its majority-owned subsidiary, Camber provides
custom energy & power solutions to commercial and industrial
clients in North America and owns interests in oil and natural gas
assets in the United States. The company's majority-owned
subsidiary also holds an exclusive license in Canada to a patented
carbon-capture system, and has a majority interest in: (i) an
entity with intellectual property rights to a fully developed,
patent pending, ready-for-market proprietary Medical & Bio-Hazard
Waste Treatment system using Ozone Technology; and (ii) entities
with the intellectual property rights to fully developed, patent
pending, ready-for-market proprietary Electric Transmission and
Distribution Open Conductor Detection Systems.
Camber Energy reported a net loss attributable to the company of
$169.68 million for the year ended Dec. 31, 2021, compared to a net
loss attributable to the company of $52.01 million for the nine
months ended Dec. 31, 2020. As of Sept. 30, 2022, the Company had
$37.52 million in total assets, $70.60 million in total
liabilities, and a total stockholders' deficit of $33.08 million.
Dallas, Texas-based Turner, Stone & Company, L.L.P., the Company's
auditor since 2021, issued a "going concern" qualification in its
report dated May 19, 2022, citing that the Company has a
significant working capital deficiency, has incurred significant
losses and needs to raise additional funds to meet its obligations
and sustain its operations. These conditions raise substantial
doubt about the Company's ability to continue as a going concern.
CANOO INC: Nets $32M Under 2nd Supplemental Agreement With YA II PN
-------------------------------------------------------------------
Canoo Inc. disclosed in a Form 8-K filed with the Securities and
Exchange Commission that on Dec. 31, 2022, the Company entered into
a Second Supplemental Agreement with YA II PN, Ltd. ("Yorkville")
to the Pre-Paid Advance Agreement. Canoo Inc. entered into the PPA
with Yorkville on July 20, 2022, under which the Company may
request advances of up to $50,000,000 in cash from Yorkville (or
such greater amount that the parties may mutually agree).
On Nov. 9, 2022, the Company entered into a Supplemental Agreement
to the PPA with Yorkville, pursuant to which Yorkville agreed to
advance $21,300,00 to the Company and waive certain terms and
conditions set forth in the PPA. The First Supplemental Agreement
remains in full force and effect with respect to the First
Supplemental Advance. As of Dec. 31, 2022, $21,300,000 remained
outstanding under the First Supplemental Advance.
Pursuant to the Second Supplemental Agreement, Yorkville agreed to
advance $34,045,500 to the Company and waive certain terms and
conditions set forth in the PPA with respect to such Supplemental
Advance, including the requirement that the Company shall have the
capacity to issue shares of the Company's common stock, par value
$0.0001 per share with a market value equal to at least 150% of the
Supplemental Advance without breaching the Exchange Cap. The
Second Supplemental Advance amount may, at the sole option of
Yorkville, be increased by up to an additional $8,514,500. Such
Option may be exercised by Yorkville through Jan. 31, 2023, which
if exercised shall be subject to the same terms as the initial
Second Supplemental Advance. After giving effect to the commitment
fee and the purchase price discount provided for in the PPA, net
proceeds of the Second Supplemental Advance to the Company will be
$32,000,000.
Both of the Supplemental Agreements require that the Company call
and hold an annual or special meeting of its stockholders on or
before Feb. 1, 2023 for the purposes of: (i) obtaining the consent
of the stockholders of the Company pursuant to Nasdaq Listing Rule
5635(d) for the issuance of all shares of its Common Stock that
have been, and could be, issued pursuant to the PPA (including
pursuant to the Supplemental Agreements) and (ii) obtaining the
consent of the stockholders to amend the PPA to provide for a Floor
Price (as defined in the PPA) of $0.50 per share. A meeting for
the purpose of obtaining the Stockholder Approval has been
scheduled for
Jan. 24, 2023.
The Second Supplemental Agreement provides that solely with respect
to the Second Supplemental Advance, the Purchase Price (as such
term is used in the PPA) will be equal to the lower of (a) $1.35
per share (i.e., a price per share equal to 110% of the
volume-weighted average trading price ("VWAP") on the Trading Day
immediately prior to the Pre-Advance Date of the Second
Supplemental Advance) (the "Fixed Price"), or (b) 95% of the lowest
daily VWAP during five Trading Days immediately preceding each
Purchase Notice Date, but not lower than the Floor Price (as
defined in the PPA). Further, the Company agreed to pay Yorkville
a commitment fee of $1,705,045 (or up to an additional $425,725 if
the Option is exercised in full by Yorkville) in connection with
the Second Supplemental Agreement, which shall be deducted from the
proceeds of the Second Supplemental Advance.
The Second Supplemental Agreement also terminates that certain
letter agreement, entered into between the Company and Yorkville on
Oct. 5, 2022 which had permitted the Company to continue conducting
certain "at-the-market" offerings while balances remained
outstanding under the PPA and First Supplemental Agreement.
Solely with respect to the Second Supplemental Advance upon (a) an
Event of Default (as defined in the PPA), (b) any failure by the
Company to observe or perform any material covenant, agreement or
warranty contained in (i) the PPA, (ii) the Letter Agreement, (iii)
the First Supplemental Agreement, (iv) the Second Supplemental
Agreement, or (v) any other agreement between the parties or (c)
if, any time after Feb. 1, 2023, and from time to time thereafter,
(i) the VWAP is less than the Floor Price for at least five Trading
Days during a period of seven consecutive Trading Days, or (ii) the
Company has issued substantially all of the Common Shares available
under the Exchange Cap, then the Company shall repay the full
unpaid principal amount outstanding under the Second Supplemental
Advance, plus the Redemption Premium in respect of such amount, and
all accrued and unpaid interest in respect of the Second
Supplemental Advance on the 10th calendar day after the Triggering
Date.
About Canoo
Torrance, California-based Canoo -- www.canoo.com -- is a mobility
technology company with a mission to bring electric vehicles to
everyone and provide connected services that improve the vehicle
ownership experience. The Company is developing a technology
platform that it believes will enable the Company to rapidly
innovate and bring new products, addressing multiple use cases, to
market faster than its competition and at lower cost.
Canoo reported a net loss and comprehensive loss of $346.77 million
in 2021 following a net loss and comprehensive loss of $86.69
million in 2020. For the nine months ended Sept. 30, 2022, the
Company reported a net loss and comprehensive loss of $407.46
million. As of Sept. 30, 2022, the Company had $444.78 million in
total assets, $216.91 million in total liabilities, and $227.87
million in total stockholders' equity.
"We require substantial additional capital to develop our EVs and
services and fund our operations for the foreseeable future. We
will also require capital to identify and commit resources to
investigate new areas of demand. Until we can generate sufficient
revenue from vehicle sales, we are financing our operations through
access to private and public equity offerings and debt financings.
Management believes substantial doubt exists about the Company's
ability to continue as a going concern for twelve months from the
date of issuance of the financial statements included in this
Quarterly Report on Form 10-Q," Canoo stated in its Form 10-Q filed
with the Securities and Exchange Commission on Nov. 9, 2022.
CDP HOLDINGS: Wins Cash Collateral Access Thru Feb 10
-----------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of New York
authorized CDP Holdings Group, LLC and its debtor-affiliates to
continue using cash collateral on an interim basis in accordance
with the Seventh Interim Cash Collateral Order and the budget, with
a 10% variance.
As previously reported by the Troubled Company Reporter, between
2016 and 2019, the Debtors entered into a number of loan
transactions with Northpoint Commercial Credit, LLC and Northpoint
Capital Partners LLC pursuant to which Northpoint advanced funds
for acquisition of assets and for working capital to be utilized at
various radiology facilities that the Debtors operated in Nassau
and Queens counties, New York.
Northpoint was granted a security interest in certain of the
Debtors' assets, which may have included the Debtors' cash and cash
equivalents. In connection therewith, Northpoint filed UCC-1
financing statements that indicated that it held those liens on the
Debtors' assets.
On December 6, 2020, debtor Neighborhood Radiology Services, P.C.
entered into a loan transaction with American Equity Bank n/k/a
Luminate Bank, pursuant to which AEB tendered $6.75 million to NRS
and was granted a "blanket lien" on all of NRS' assets. On
December 14, 2020, AEB filed a UCC-1 financing statement which
indicated that it held those liens on NRS' assets.
AEB also asserts a lien on the NRMS assets by virtue of the filing
of a UCC-1 financing statement on December 17, 2019. However, the
Debtors have been unable to ascertain to what obligation this
asserted lien relates. As of the Filing Date, AEB was owed
approximately $7 million from NRS.
The U.S. Small Business Administration holds a duly perfected
subordinate security interest in all of the Debtors' respective
personal property, including the proceeds thereof, by virtue of a
note and security agreement, entered into in by the Debtor on or
about June 2020 and the filing of UCC-1 Financing Statements
evidencing such interest. As of the Filing Date, the Debtors were
each indebted to the SBA in the approximate amount of $150,000.
A further hearing on the matter is set for February 10 at 10 a.m.
via Zoom for Government.
A copy of the order is available at https://bit.ly/3QFrYAh from
PacerMonitor.com.
About CDP Holdings Group
CDP Holdings Group, LLC, and affiliate Neighborhood Radiology
Management Services, LLC are management service organizations or
"MSOs" that provide administrative and operational non-medical
services at various diagnostic imaging locations.
CDP Holdings Group and its affiliates sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Lead Case
No. 22-41392) on June 16, 2022. In the petition filed by Daniel
DiPeitro, as sole member, CP Holdings estimated assets between $1
million and $10 million. The petition states funds will be
available to Unsecured Creditors.
Judge Elizabeth D. Stong oversees the case.
Dawn Kirby, Esq., at Kirby Aisner & Curley LLP, is the Debtors'
counsel.
CHAZAR 410: HRE Completes Bankruptcy Sale of San Antonio Property
-----------------------------------------------------------------
Amid shifting market conditions, Hilco Real Estate, LLC ("HRE")
successfully completed the Chapter 11 Bankruptcy sale of 52± acres
of prime interstate commercial and residential development land
located on San Antonio's south side (Bankruptcy Case
#21-42132-mxm11, In re: Chazar 410 Holdings, LLC), ultimately
closing for $6,550,000. The parcels sit along Loop 410 and S.
Zarzamora Street, just south of San Antonio's main business
district and directly across from Texas A&M University - San
Antonio.
Hilco Real Estate's national bankruptcy team was engaged by the
Chapter 11 Trustee, Robin Phelan, to assist in structuring a sale
that would effectively maximize interest in and the value of the
assets in a two-pronged approach. The first step was to secure a
"stalking horse bidder" at $5,735,000. The stalking horse bidder
provided the needed backstop to protect the Trustee's downside
risk. Our team then conducted a well-publicized and heavily
marketed sale of the assets. While no stranger to short timelines,
HRE (i) was engaged by the Chapter 11 Trustee, which engagement had
to be approved by the bankruptcy court, (ii) structured and
executed on the sales process, and (iii) brought the deal to a
closing in less than 90 days – a very truncated timeline.
The HRE team aggressively marketed the property nationally,
resulting in 100+ direct inquiries, culminating in a competitive
auction event that garnered a final closing price of $6,550,000 –
well above the stated stalking horse minimum bid. Despite the
complexity of circumstances in this case, Hilco Real Estate
exceeded seller expectations through their implementation of an
effective, customized sales solution, their deep understanding of
bankruptcy, and their national outreach to knowledgeable,
sophisticated buyers. They were able to overcome an unpredictable
market and consolidated sale timeline to achieve a 100% recovery to
all secured and unsecured creditors involved with the bankruptcy
case.
Nico Nesenoff, a managing director at Hilco Real Estate, stated,
"Being able to come in and provide an effective solution for a
bankruptcy Trustee and Legal team who put their faith in our
program, is what we believe separates us from other groups. It's
our knowledge of the bankruptcy code and experience in complex
bankruptcy sales that makes us an invaluable tool in any case."
Terry Rochford, senior vice president of business development at
Hilco Real Estate, stated, "This sale perfectly illustrates the
strength of the Hilco Real Estate platform to efficiently monetize
virtually any asset type under virtually any market condition. This
is due, in large part, to the experience and expertise of our team.
Our national marketing campaign reached commercial and residential
developers and investors from coast to coast and leveraged our
significant experience selling assets throughout the state of
Texas. In the end, our team marketed, sold, and closed the property
in less than 90 days, all while maximizing the value -- at Hilco
Real Estate, we call this 'speed to value'."
To learn more about Hilco Real Estate or our advisory services for
an ongoing bankruptcy, please visit HilcoRealEstate.com or call
(855) 755-2300.
About Hilco Real Estate
Hilco Real Estate ("HRE"), a Hilco Global company
(HilcoGlobal.com), is headquartered in Northbrook, Illinois (USA).
HRE is a national provider of strategic real estate disposition
services. Acting as an agent or principal, HRE uses its experience
to advise and execute strategies to assist clients in deriving the
maximum value from their real estate assets. By leveraging
multi-faceted sales strategies & techniques, aggressive
repositioning and restructuring experience, a vast and motivated
network of buyers and sellers, and substantial access to capital,
HRE exceeds expectations even in the most complex transactions.
About Chazar 410 Holdings
Fort Worth, Texas-based Chazar 410 Holdings, LLC filed its
voluntary petition for Chapter 11 protection (Bankr. N.D. Tex. Case
No. 21-42132) on Sept. 3, 2021, listing as much as $10 million in
both assets and liabilities. Judge Mark X. Mullin oversees the
case. Forshey & Prostok, LLP serves as the Debtor's legal
counsel.
CIMPRESS USA: Fidelity Fund Marks $2.6M Loan at 18% Off
-------------------------------------------------------
Fidelity Advisor Value Fund, a fund of Fidelity Advisor Series I,
has marked its $2,600,000 loan extended to Cimpress USA Inc to
market at $2,126,000, or 82% of the outstanding amount, as of
October 31, 2022, according to a disclosure contained in its Form
N-CSR for the fiscal year ended October 31, 2022, filed with the
Securities and Exchange Commission on December 21.
Fidelity Advisor Value Fund extended a Tranche B first lien term
loan that carries 7.2539% interest (1 month U.S. LIBOR + 3.500%) to
Cimpress USA Inc. The loan is scheduled to mature on May 17, 2028.
Fidelity Advisor Value Fund is a fund of Fidelity Advisor Series I,
a Trust that is registered under the Investment Company Act of
1940, as amended, as an open-end management investment company
organized as a Massachusetts business trust. Fidelity Management &
Research Company LLC (FMR) serves as investment manager.
Cimpress USA Incorporated operates as an online supplier of graphic
design and printed products.
CINEMA SQUARE: Has Deal on Cash Collateral Access Thru April 30
---------------------------------------------------------------
Cinema Square, LLC and the U.S. government, on behalf of its
agency, the U.S. Small Business Administration, advised the U.S.
Bankruptcy Court for the Central District of California, Northern
Division, 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 agree that pre-petition, on June 16, 2020, the Debtor
executed a Small Business Administration Note, pursuant to which
the Debtor obtained a loan in the amount of $150,000. The terms of
the Note require the Debtor to pay principal and interest payments
of $731 every month beginning 12 months from the date of the Note
over the 30 year term of the SBA Loan. The SBA Loan has an annual
rate of interest of 3.75% and may be prepaid at any time without
notice or penalty.
Pursuant to the SBA Loan Authorization and Agreement executed on
June 16, 2020, the Debtor is required to "use all the proceeds of
this Loan solely as working capital to alleviate economic injury
caused by disaster occurring in the month of January 31, 2020 and
continuing thereafter and to pay Uniform Commercial Code lien
filing fees and a third-party UCC handling charge of $100 which
will be deducted from the Loan amount."
As evidenced by a Security Agreement executed on June 16, 2020 and
a validly recorded UCC-1 filing on June 27, 2020 as Filing Number
20-7795084648, the SBA Loan is secured by all tangible and
intangible personal property.
The SBA's interest in cash collateral is junior to the interest of
secured creditor WILMINGTON TRUST, National Association, As
Trustee, for the benefit of the Holders of COMM 2016-DC2 Mortgage
Trust Commercial Mortgage Pass Through Certificates, Series
2016-DC2.
The SBA consents to the Debtor's use of cash collateral. The Debtor
represents to the SBA that it will make no additional or
unauthorized use of the cash collateral retroactive from the SBA
Loan date until entry of an Order Confirming the Debtor's First
Amended Plan of Reorganization or April 30, 2023, whichever occurs
earlier, for ordinary and necessary expenses as set forth in the
projections.
The Debtor's use of cash collateral may be renewed upon subsequent
stipulation with SBA or by order of the Court.
As adequate protection, SBA will receive a replacement lien to the
extent that the automatic stay, pursuant to 11 U.S.C. section 362,
as well as the use, sale, lease or grant results in a decrease in
the value of the SBA’s interest in the Personal Property
Collateral on a post-petition basis. The replacement lien is valid,
perfected and enforceable and will not be subject to dispute,
avoidance, or subordination, except that it is and will remain
subordinate to the lien of the Wilmington Trust in the cash
collateral and this replacement lien need not be subject to
additional recording. The SBA is authorized to file a certified
copy of the cash collateral order and any other necessary and
related documents to further perfect its lien.
Any diminution in the value of SBA's interest in cash collateral
pursuant to the SBA Loan over the life of the proceeding will
entitle the SBA to a super-priority claim pursuant to 11 U.S.C.
sections 503(b), 507(a)(2) and 507(b).
The SBA's claim under the Loan shall be allowed as a claim for
$150,000, plus all accrued interest through the filing of the
case.
The parties agree that as and for additional adequate protection,
the Debtor will not propose any Plan of Reorganization that pays
SBA less than $731 per month on account of its claim.
A hearing on the matter is set for January 23 at 10:30 a.m.
A copy of the stipulation is available at https://bit.ly/3k3GJ3z
from PacerMonitor.com.
About Cinema Square, LLC
Cinema Square, LLC is the owner of a small shopping center located
at 6917 El Camino Real, Atascadero, CA 93422. There are several
tenants, the primary tenant is a movie theater, the Galaxy
Theater.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. C.D. Cal. Case No. 21-10634) on June 14,
2021. In the petition signed by Jeffrey C. Nelson, president, the
Debtor disclosed up to $50 million in assets and up to $10 million
in liabilities.
Judge Deborah J. Saltzman oversees the case.
William C. Beall, Esq., at Beall & Burkhardt, APC is the Debtor's
counsel.
CINEWORLD GROUP: Hollywood Theater in Springfield, MO Closes
------------------------------------------------------------
KY3 reports that Regal announced the closing date for its Hollywood
Theaters in downtown Springfield, Missouri, in January 2023. The
company set the closing date for January 5, 2023. The company
announced the Joplin location will remain open. Theaters worldwide
have been hurt by sagging sales since the pandemic began.
About Cineworld Group PLC
London-based Cineworld Group PLC was founded in 1995 and is the
world's second-largest cinema chain. Cineworld operates 751 sites
with 9,000 screens in 10 countries, including the Cineworld and
Picturehouse screens in the UK and Ireland, Yes Planet in Israel,
and Regal Cinemas in the US.
According to The Guardian, the Griedinger family, including Mooky's
brother and deputy chief executive, Israel, have struggled to
maintain control of the ailing business but have been forced to
reduce their stake from 28% in recent years. Cineworld's top five
investors include the Chinese Jangho Group at 13.8%, Polaris
Capital Management (7.82%), Aberdeen Standard Investments (4.98%)
and Aviva Investors (4.88%).
The London-listed Cineworld, which has run up debt of more than
$4.8 billion after losses soared during the pandemic, is pinning
its hopes on a meatier slate of movies in 2022 to bounce back from
a two-year lull.
Cineworld Group plc and 104 affiliates sought Chapter 11 protection
(Bankr. S.D. Tex. Lead Case No. 22-90168) on Sept. 7, 2022,
estimating more than $1 billion in assets and debt.
PJT Partners LP is providing financial advice, Kirkland & Ellis LLP
and Slaughter and May are acting as legal counsel and AlixPartners
LLP is serving as restructuring advisor to Cineworld. Jackson
Walker LLP is the co-bankruptcy counsel. Kroll is the claims
agent.
CONAIR HOLDINGS: Fidelity Fund Marks $11.5M Loan at 16% Off
-----------------------------------------------------------
Fidelity Advisor Value Fund, a fund of Fidelity Advisor Series I,
has marked its $11,540,000 loan extended to Conair Holdings LLC to
market at $9,656,000, or 84% of the outstanding amount, as of
October 31, 2022, according to a disclosure contained in its Form
N-CSR for the fiscal year ended October 31, 2022, filed with the
Securities and Exchange Commission on December 21.
Fidelity Advisor Value Fund extended a Tranche B term loan that
carries 7.4241% interest (1 month U.S. LIBOR + 3.750%) to Conair
Holdings LLC. The loan is scheduled to mature on May 17, 2028.
Fidelity Advisor Value Fund is a fund of Fidelity Advisor Series I,
a Trust that is registered under the Investment Company Act of
1940, as amended, as an open-end management investment company
organized as a Massachusetts business trust. Fidelity Management &
Research Company LLC (FMR) serves as investment manager.
Conair Holdings LLC is a designer, manufacturer and marketer of
branded personal care appliances, small kitchen appliances and
cookware, commercial food service equipment, professional hair care
and beauty products, hairbrushes and hair care accessories,
cosmetic and organizer bags and travel accessories.
CORE SCIENTIFIC INC: Gets $17 Million Loan From BlackRock
---------------------------------------------------------
Andrew Smith of Pega Pool reports that the largest crypto miner in
terms of hashrate, Core Scientific, went on to file for bankruptcy
under Chapter 11 Bankruptcy Code in the third week of December
2022. More or less the action was inevitable given most miners are
struggling to keep the operations continue and sustain with
profitability. Increasing energy prices in addition to
continuously dropping Bitcoin (BTC) prices made it difficult for
Core Scientific, like many miners, to stay in space.
However, the crypto miner was seeking support from its convertible
noteholders for two debtor-in-possession (DIP) facilities totaling
$75 million.
Meanwhile, leading investment manager BlackRock reportedly came up
with the commitment of $17 million for the beleaguered bitcoin
miner. The loan came as part of a $75 million worth loan from the
secured convertible holders.
Data shows that BlackRock is the largest shareholder of Core
Scientific. Currently the investment giant holds about $37.9
million in overall secured convertible notes of bitcoin miner. The
recent offering of $17 million is part of the same convertible
notes arranged prior to the bankruptcy process of the miner.
Chief mining officer at Core Scientific, Russell Cann said that the
restructuring plan intends to provide equity to convertible
noteholders of secured debt. In return the currency equity and
unsecured holders were said to receive warrants making them get
more shares in the company as it would grow in future.
The lenders committed about $57 million out of $75 million to the
bankrupt crypto miner. This also includes the investment company's
recent loan. The maturity date for the DIP facility is June 21,
2023 of the next year with the condition of extension till
September 2023.
Late in October 2022, Core announced it would stop making some debt
payments and issued its first bankruptcy warning, which caused its
shares to drop by roughly 80% on the Nasdaq. It stated once more in
November that it might not have enough cash by the end of the year.
Another significant mining company, Compute North, filed for
Chapter 11 bankruptcy in late September 2022. Argo Blockchain
(ARBK), a cryptocurrency miner, narrowly escaped bankruptcy this
week thanks to a $100 million bailout from Mike Novogratz's Galaxy
Digital.
About Core Scientific
Core Scientific, Inc. (NASDAQ: CORZ) is the largest U.S.
publicly-traded Bitcoin mining company in computing power. Core
Scientific, which was formed following a business combination in
July 2021 with blank check company XPDI, is a large-scale operator
of dedicated, purpose-built facilities for digital asset mining
colocation services and a provider of blockchain infrastructure,
software solutions and services. Core mines Bitcoin, Ethereum and
other digital assets for third-party hosting customers and for its
own account at its six fully operational data centers in North
Carolina (2), Georgia (2), North Dakota (1) and Kentucky (1). Core
was formed following a business combination in July 2021 with XPDI,
a blank check company.
In July 2022, one of the Company's largest customers, Celsius
Mining LLC, filed for Chapter 11 bankruptcy in New York.
With low Bitcoin prices depressing mining revenue to a record low,
Core Scientific first warned in October 2022 that it may have to
file for bankruptcy if the company can't find more funding to repay
its debt that amounts to over $1 billion.
Core Scientific did not make payments that came due in late October
and early November 2022 with respect to several of its equipment
and other financings, including its two bridge promissory notes.
Core Scientific Inc. filed a petition for relief under Chapter 11
of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 22-90340) on Dec.
21, 2022.
As of Sept. 30, 2022, the Company had total assets of US$1.4
billion and total liabilities of US$1.3 billion.
The Company hired Weil, Gotshal & Manges LLP, as legal advisers,
PJT Partners LP, as investment banker, and AlixPartners LLP as
financial advisor. Stretto is the claims agent.
A group of Core Scientific convertible bondholders is working with
restructuring lawyers at Paul Hastings.
CORE SCIENTIFIC: Announces Nov-Dec 2022 Operational Updates
-----------------------------------------------------------
Core Scientific, Inc., on Jan. 9 announced production and
operational updates for November and December 2022.
Data Centers
As of month-end, the Company operated approximately 243,000 and
234,000 ASIC servers for both colocation and self-mining,
representing a total of 24.4 and 23.7 EH/s in November and
December, respectively, at its data center facilities in Georgia,
Kentucky, North Carolina, North Dakota and Texas.
Self-Mining
Core Scientific’s self-mining operations produced 1,356 and 1,435
bitcoin in November and December, respectively. As of month end,
the Company operated approximately 152,000 and 153,000 self-mining
servers accounting for approximately 63% and 66% of its total
number of servers and representing a self-mining hashrate of 15.4
and 15.7 EH/s in November and December, respectively.
Colocation Services
In addition to its self-mining fleet, Core Scientific provided data
center colocation services, technology and operating support for
approximately 91,000 and 80,500 customer-owned ASIC servers,
representing approximately 37% and 34% of the mining servers in
operation in the Company’s data centers as of November 30 and
December 31, respectively. Customer-owned ASIC servers produced
approximately 795 and 931 bitcoin in the months of November and
December, respectively.
Grid Support
In the months of November and December, the Company powered down
its data center operations on several occasions. Curtailments in
November and December totaled 5,828 and 17,179 megawatt hours,
respectively. Core Scientific works with the communities and
utility companies in which it operates to enhance electrical grid
stability.
About Core Scientific
Core Scientific, Inc. (NASDAQ: CORZ) is the largest U.S.
publicly-traded Bitcoin mining company in computing power. Core
Scientific, which was formed following a business combination in
July 2021 with blank check company XPDI, is a large-scale operator
of dedicated, purpose-built facilities for digital asset mining
colocation services and a provider of blockchain infrastructure,
software solutions and services. Core mines Bitcoin, Ethereum and
other digital assets for third-party hosting customers and for its
own account at its six fully operational data centers in North
Carolina (2), Georgia (2), North Dakota (1) and Kentucky (1). Core
was formed following a business combination in July 2021 with XPDI,
a blank check company.
In July 2022, one of the Company's largest customers, Celsius
Mining LLC, filed for Chapter 11 bankruptcy in New York.
With low Bitcoin prices depressing mining revenue to a record low,
Core Scientific first warned in October 2022 that it may have to
file for bankruptcy if the company can't find more funding to repay
its debt that amounts to over $1 billion.
Core Scientific did not make payments that came due in late October
and early November 2022 with respect to several of its equipment
and other financings, including its two bridge promissory notes.
Core Scientific Inc. filed a petition for relief under Chapter 11
of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 22-90340) on Dec.
21, 2022.
As of Sept. 30, 2022, the Company had total assets of US$1.4
billion and total liabilities of US$1.3 billion.
The Company hired Weil, Gotshal & Manges LLP, as legal advisers,
PJT Partners LP, as investment banker, and AlixPartners LLP as
financial advisor. Stretto is the claims agent.
A group of Core Scientific convertible bondholders is working with
restructuring lawyers at Paul Hastings.
CROWN FINANCE: Fidelity Fund Marks $1.4M Loan at 70% Off
--------------------------------------------------------
Fidelity Advisor Value Fund, a fund of Fidelity Advisor Series I,
has marked its $1,462,000 loan extended to Crown Finance US to
market at $440,000, or 30% of the outstanding amount, as of October
31, 2022, according to a disclosure contained in its Form N-CSR for
the fiscal year ended October 31, 2022, filed with the Securities
and Exchange Commission on December 21.
Fidelity Advisor Value Fund extended a Tranche B first lien term
loan that carries a 4.2497% interest (3 month U.S. LIBOR + 2.750%)
to Crown Finance US. The loan is scheduled to mature on September
20, 2026.
Fidelity Advisor Value Fund is a fund of Fidelity Advisor Series I,
a Trust that is registered under the Investment Company Act of
1940, as amended, as an open-end management investment company
organized as a Massachusetts business trust. Fidelity Management &
Research Company LLC (FMR) serves as investment manager.
Crown UK Holdco Limited and Crown Finance US, Inc. are affiliates
of Cineworld Group plc.
About Cineworld Group PLC
London-based Cineworld Group PLC was founded in 1995 and is the
world's second-largest cinema chain. Cineworld operates 751 sites
with 9,000 screens in 10 countries, including the Cineworld and
Picturehouse screens in the UK and Ireland, Yes Planet in Israel,
and Regal Cinemas in the US.
According to The Guardian, the Griedinger family, including Mooky's
brother and deputy chief executive, Israel, have struggled to
maintain control of the ailing business but have been forced to
reduce their stake from 28% in recent years. Cineworld's top five
investors include the Chinese Jangho Group at 13.8%, Polaris
Capital Management (7.82%), Aberdeen Standard Investments (4.98%)
and Aviva Investors (4.88%).
Cineworld Group plc and 104 affiliates sought Chapter 11 protection
(Bankr. S.D. Tex. Lead Case No. 22-90168) on Sept. 7, 2022,
estimating more than $1 billion in assets and debt. The
London-listed Cineworld has run up debt of more than $4.8 billion
after losses soared during the pandemic.
PJT Partners LP is providing financial advice, Kirkland & Ellis LLP
and Slaughter and May are acting as legal counsel and AlixPartners
LLP is serving as restructuring advisor to Cineworld. Jackson
Walker LLP is the co-bankruptcy counsel. Kroll is the claims
agent.
CROWN FINANCE: Fidelity Fund Marks $26M Loan at 69% Off
-------------------------------------------------------
Fidelity Advisor Value Fund, a fund of Fidelity Advisor Series I,
has marked its $26,272,000 loan extended to Crown Finance US to
market at $8,220,000, or 31% of the outstanding amount, as of
October 31, 2022, according to a disclosure contained in its Form
N-CSR for the fiscal year ended October 31, 2022, filed with the
Securities and Exchange Commission on December 21.
Fidelity Advisor Value Fund extended a Tranche B first lien term
loan that carries a 3.9997% interest (3 month U.S. LIBOR + 2.500%)
to Crown Finance US. The loan is scheduled to mature on February
28, 2025.
Fidelity Advisor Value Fund is a fund of Fidelity Advisor Series I,
a Trust that is registered under the Investment Company Act of
1940, as amended, as an open-end management investment company
organized as a Massachusetts business trust. Fidelity Management &
Research Company LLC (FMR) serves as investment manager.
Crown UK Holdco Limited and Crown Finance US, Inc. are affiliates
of Cineworld Group plc.
About Cineworld Group PLC
London-based Cineworld Group PLC was founded in 1995 and is the
world's second-largest cinema chain. Cineworld operates 751 sites
with 9,000 screens in 10 countries, including the Cineworld and
Picturehouse screens in the UK and Ireland, Yes Planet in Israel,
and Regal Cinemas in the US.
According to The Guardian, the Griedinger family, including Mooky's
brother and deputy chief executive, Israel, have struggled to
maintain control of the ailing business but have been forced to
reduce their stake from 28% in recent years. Cineworld's top five
investors include the Chinese Jangho Group at 13.8%, Polaris
Capital Management (7.82%), Aberdeen Standard Investments (4.98%)
and Aviva Investors (4.88%).
Cineworld Group plc and 104 affiliates sought Chapter 11 protection
(Bankr. S.D. Tex. Lead Case No. 22-90168) on Sept. 7, 2022,
estimating more than $1 billion in assets and debt. The
London-listed Cineworld has run up debt of more than $4.8 billion
after losses soared during the pandemic.
PJT Partners LP is providing financial advice, Kirkland & Ellis LLP
and Slaughter and May are acting as legal counsel and AlixPartners
LLP is serving as restructuring advisor to Cineworld. Jackson
Walker LLP is the co-bankruptcy counsel. Kroll is the claims
agent.
DIAMOND SPORTS: Prudential GTRFI Marks $7.1M Loan at 81% Off
------------------------------------------------------------
Prudential Global Total Return Fund, Inc. has marked its $7,173,000
loan extended to Diamond Sports Group LLC to market at $1,377,765
or 19% of the outstanding amount, as of October 31, 2022, according
to a disclosure contained Prudential GTRFI’s Form 485BPOS for the
fiscal year ended October 31, 2022, filed with the Securities and
Exchange Commission on December 29, 2022.
Prudential GTRFI extended a Second Lien Term Loan to Diamond Sports
Group LLC. The loan carries a 6.45% interest (1 Month SOFR +
3.350%) and is scheduled to mature on August 24, 2026.
Prudential GTRFI is registered under the Investment Company Act of
1940, as amended, as an open-end management investment company. The
RIC is organized as a Maryland Corporation.
Diamond Sports Group, LLC operates as a sports marketing company.
The Company offers seminars, combine, speed and agility
assessments, recruiting tools, and online training sessions for
sports including football, baseball, soccer, and basketball.
DURA-METRICS INC: Gets OK to Hire Gabriel Liberman as Legal Counsel
-------------------------------------------------------------------
Dura-Metrics, Inc. received approval from the U.S. Bankruptcy Court
for the Eastern District of California to hire 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
In addition, the firm will receive reimbursement for out-of-pocket
expenses incurred.
The retainer fee is $12,000, inclusive of the $1,738 Chapter 11
filing fee.
Gabriel Liberman, Esq., a partner at the Law Offices of Gabriel
Liberman, 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 Dura-Metrics Inc.
Dura-Metrics Inc. -- https://www.dentalmasters.com/ -- is a dental
laboratory in Rohnert Park, Calif. For over 65 years,
Dura-Metrics' expertly trained technicians and staff have provided
superior dental lab services to dental practices nationwide.
Dura-Metrics filed a petition for relief under Subchapter V of
Chapter 11 of the Bankruptcy Code (Bankr. E.D. Calif. Case No.
22-23151) on Dec. 5, 2022, with between $100,000 and $500,000 in
assets and between $1 million and $10 million in liabilities. David
Sousa has been appointed as Subchapter V trustee.
Judge Christopher M. Klein oversees the case.
The Debtor is represented by Gabriel E. Liberman, Esq., at the Law
Offices of Gabriel Liberman, APC.
EMPIRE TODAY: Fidelity AS I Marks $15.4M Loan at 26% Off
--------------------------------------------------------
Fidelity AS I has marked its $15,436,000 loan extended to Empire
Today LLC to market at $11,346,000 or 74% of the outstanding
amount, as of October 31, 2022, according to a disclosure contained
Fidelity AS I’s Form N-CSR for the fiscal year ended October 31,
2022, filed with the Securities and Exchange Commission on December
21.
Fidelity AS I extended a term loan 1 month U.S. LIBOR + 5.000%
8.3003% to Empire Today LLC. The loan is scheduled to mature on
April 01, 2028
Fidelity AS I Fidelity Advisor Value Fund (the Fund) is a fund of
Fidelity Advisor Series I (the Trust) and is authorized to issue an
unlimited number of shares. The Trust is registered under the
Investment Company Act of 1940, as amended (the 1940 Act), as an
open-end management investment company organized as a Massachusetts
business trust. The fund offers Class A, Class M, Class C, Class I
and Class Z shares, each of which has equal rights as to assets and
voting privileges. Each class has exclusive voting rights with
respect to matters that affect that class. Class C shares will
automatically convert to Class A shares after a holding period of
eight years from the initial date of purchase, with certain
exemptions. Investment Manager Fidelity Management & Research
Company LLC (FMR).
Headquartered in Northlake, IL, Empire Today, LLC is a specialty
retailer of carpet, hard floor, and window treatments. The company
offers shop-at-home sales in the largest metropolitan markets in
the U.S. Revenue is about $870 million.
EMS BILLING: Seeks Cash Collateral Access
-----------------------------------------
EMS Billing Solutions, Inc. asks the U.S. Bankruptcy Court for the
District of Colorado for authority to use cash collateral and
provide adequate protection.
The Debtor has an urgent and immediate need for the use of cash
collateral as necessary to preserve its assets, maximize the value
of the bankruptcy and provide the best opportunity to present a
feasible and confirmable plan of reorganization.
The Debtor anticipates proposing a plan wherein it will either
reduce its ordinary monthly expenses or increase revenue realized
in order to maximize the value of the bankruptcy estate and
effectively reorganize. However, during the "breathing spell"
afforded between the Petition Date and the submission of a plan,
the Debtor needs to fund the purchase of future raw materials, as
well as maintain payroll, to generate revenue.
FC Marketplace (also known as Funding Circle) loaned money to the
Debtor. The present balance is approximately $22,326 (exclusive of
further interest and late fees that may have accrued). FC
Marketplace filed a UCC-1 Financing Statement Colorado Secretary of
State on July 5, 2018.
Banker's Health Group may have loaned money to the Debtor. The
present balance is approximately $38,225 (exclusive of further
interest and late fees that may have accrued). BHG filed a UCC-1
Financing Statement Colorado Secretary of State on November 17,
2020.
CT Corporation System, is an authorized representative of BHG and
is the entity that actually filed the UCC-1 Financing Statement
with the Colorado Secretary of State.
It is believed FC Marketplace is in a first position as to
perfection of its claim with regard to the Debtor's assets.
Thereafter, upon information and belief, BHG (filed UCC filed
through CTC) is in second position. Those two creditors are fully
or partially secured by the value of the accounts receivable and
other assets of the Debtor. Both secured creditors have perfected
security interests in all assets of the Debtor.
The Debtor proposes to tender monthly cash payments in the sum of
$225 per month to FC Marketplace as a demonstration of adequate
protection. The Debtor expects to accommodate the remaining secured
creditor's claim in its proposed plan, yet unfiled.
The Debtor suggests that a post-petition lien on its post-petition
receivables to replace the loss of any pre-petition receivables,
and a lien against the Debtor-In-Possession deposit accounts in
favor of FC Marketplace, Banker's Health Group (and/or CT
Corporation System) would be appropriate.
The Debtor proposes the following in order to provide adequate
protection for the Debtor's use of the operating capital:
a. The Debtor will maintain adequate insurance coverage as to
the business and equipment necessary for reorganization, and
adequately insure against any potential loss;
b. The Debtor will provide all periodic reports and
information required by the Bankruptcy Code, Local Bankruptcy
Rules, and the Office of the United States Trustee;
c. The Debtor will retain in good repair all collateral
necessary for in which the secured creditors claim an interest.
A copy of the motion is available at https://bit.ly/3CAVG3n from
PacerMonitor.com.
A copy of the budget is available at https://bit.ly/3GQ8OUR from
PacerMonitor.com.
The Debtor projects $13,400 in revenue and $12,673 in expenses for
one month.
About EMS Billing Solutions, Inc.
EMS Billing Solutions, Inc. is engaged in the business of medical
billing. The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Colo. Case No. 22-15088) on December 30,
2022. In the petition signed by Gaylene Garcia-Kabel, president,
the Debtor disclosed up to $100,000 in assets and up to $1 million
in liabilities.
Sean Cloyes, Esq., at Berken Cloyes, PC, represents the Debtor as
legal counsel.
ENDO INTERNATIONAL: SolomonEdwardsGroup as Accounting Consultant
----------------------------------------------------------------
Endo International plc and its affiliates seek approval from the
U.S. Bankruptcy Court for the Southern District of New York to
employ SolomonEdwardsGroup, LLC as accounting consultant.
The firm's services include:
a. elimination of backlog in pre-petition and post-petition
payables cutoff review;
b. ongoing accounts payable support to update books and records
for the Debtors' statement of financial affairs and schedule
filings;
c. establishment of bankruptcy claim reconciliation process;
d. analysis in support of identification and estimation of
liabilities subject to compromise (LSTC);
e. execution and support of ASC 852 for reporting including
assistance and analysis with LSTC, reorganization expenses, docket
activities and other bankruptcy reporting considerations;
f. bankruptcy accounting and emergence support;
g. assistance with fresh-start (ASC 852) applicability
assessment, emergency planning, reporting, and implementation;
h. advice on emergence reporting activities including impact of
the plan or sale transaction, fair value assessments and
coordination with legal, tax and financial advisors to facilitate
emergence reporting;
i. identification and estimation of the fair value of specific
assets and liabilities as specified by management, including
performing valuations of certain assets and liabilities or the
identification of new intangibles;
j. coordination of valuation information for auditor review and
providing advice to the management as it addresses company-specific
issues surrounding value allocation to specific assets, legal
entities, operating segments and reporting units;
k. advice and recommendations to management to assist it in
determining the tax impact of the plan or sale and fair value
adjustments to the financial instruments (tax provision analysis);
and
l. assistance with post-emergence accounting, reporting,
valuation or process and systems implications of plan or sale, and
implementation of a new basis of accounting under ASC 852, as
applicable.
SolomonEdwardsGroup will be paid at these rates:
Partner/Principal $400 to $500 per hour
Managing Director $350 to $400 per hour
Director $300 to $350 per hour
Senior Manager $250 to $300 per hour
Manager $200 to $250 per hour
Senior Consultant $150 to $200 per hour
In addition, the firm will be reimbursed for out-of-pocket expenses
incurred.
Brian Markley, a managing partner at SolomonEdwardsGroup, 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:
Brian Markley
SolomonEdwardsGroup, LLC
122 East 42nd Street 17th Floor
New York, NY 10168
Tel: (212) 545-9500
About Endo International
Endo International plc is a generics and branded pharmaceutical
company. It develops, manufactures, and sells branded and generic
products to customers in a wide range of medical fields, including
endocrinology, orthopedics, urology, oncology, neurology, and other
specialty areas. On the Web: http://www.endo.com/
On August 16, 2022, Endo International and certain of its
subsidiaries initiated voluntary prearranged Chapter 11 proceedings
(Bankr. S.D.N.Y. Lead Case No. 22-22549). The cases are pending
before Judge James L. Garrity, Jr. The Debtors have put up a Web
site dedicated to its restructuring: http://www.endotomorrow.com/
The Debtors tapped Skadden, Arps, Slate, Meagher & Flom, LLP as
legal counsel; PJT Partners, LP as investment banker; and Alvarez &
Marsal North America, LLC as financial advisor. Kroll Restructuring
Administration, LLC is the claims agent and administrative
advisor.
Roger Frankel, the legal representative for future claimants in
these Chapter 11 cases, tapped Frankel Wyron LLP and Young Conaway
Stargatt & Taylor, LLP as legal counsels, and Ducera Partners, LLC
as investment banker.
The U.S. Trustee for Region 2 appointed an official committee of
unsecured creditors on Sept. 2, 2022. The committee tapped Kramer
Levin Naftalis & Frankel as legal counsel; Lazard Freres & Co. LLC
as investment banker; and Dundon Advisers, LLC and Berkeley
Research Group, LLC as financial advisors.
Meanwhile, the official committee representing the Debtors' opioid
claimants tapped Cooley, LLP as bankruptcy counsel; Akin Gump
Strauss Hauer & Feld, LLP as special counsel; Province, LLC as
financial advisor; and Jefferies, LLC as investment banker.
EQUINOX HOLDINGS: Fidelity Fund Marks $29M Loan at 22% Off
----------------------------------------------------------
Fidelity Advisor Value Fund, a fund of Fidelity Advisor Series I,
has marked its $29,224,000 loan extended to Equinox Holdings to
market at $21, 273,000, or 73% of the outstanding amount, as of
October 31, 2022, according to a disclosure contained in its Form
N-CSR for the fiscal year ended October 31, 2022, filed with the
Securities and Exchange Commission on December 21.
Fidelity Advisor Value Fund extended a Tranche B-1 term loan that
carries a 6.6741% interest (3 month U.S. LIBOR + 3.000%) to
Equinox. The loan is scheduled to mature on March 8, 2024.
Fidelity Advisor Value Fund is a fund of Fidelity Advisor Series I,
a Trust that is registered under the Investment Company Act of
1940, as amended, as an open-end management investment company
organized as a Massachusetts business trust. Fidelity Management &
Research Company LLC (FMR) serves as investment manager.
Equinox Holdings Inc., through its subsidiaries, provides fitness
services such as yoga classes and studio cycling.
EQUINOX HOLDINGS: Fidelity Fund Marks $7M Loan at 36% Off
---------------------------------------------------------
Fidelity Advisor Value Fund, a fund of Fidelity Advisor Series I,
has marked its $7,325,000 loan extended to Equinox Holdings Inc to
market at $4,704,000, or 64% of the outstanding amount, as of
October 31, 2022, according to a disclosure contained in its Form
N-CSR for the fiscal year ended October 31, 2022, filed with the
Securities and Exchange Commission on December 21.
Fidelity Advisor Value Fund extended a second lien term loan that
carries a 10.6741% interest (3 months U.S. LIBOR + 7.000%) to
Equinox Holdings Inc. The loan is scheduled to mature on September
8, 2024.
Fidelity Advisor Value Fund is a fund of Fidelity Advisor Series I,
a Trust that is registered under the Investment Company Act of
1940, as amended, as an open-end management investment company
organized as a Massachusetts business trust. Fidelity Management &
Research Company LLC (FMR) serves as investment manager.
Equinox Holdings Inc., through its subsidiaries, provides fitness
services such as yoga classes and studio cycling.
EXELA TECHNOLOGIES: Receives Delisting Notice from Nasdaq
---------------------------------------------------------
Exela Technologies, Inc. disclosed in a Form 8-K filed with the
Securities and Exchange Commission it received notice from the
Listing Qualifications Staff of The Nasdaq Stock Market LLC on Jan.
5 that the Staff had determined that as of Jan. 4, 2023, the
Company's securities had a closing bid price of $0.10 or less for
eleven consecutive trading days triggering application of Listing
Rule 5810(c)(3)(A)(iii) which states in part: if during any
compliance period specified in Rule 5810(c)(3)(A) a Company's
security has a closing bid price of $0.10 or less for ten
consecutive trading days, the Listing Qualifications Department
shall issue a Staff Delisting Determination under Rule 5810 with
respect to that security. As a result, the Staff determined to
delist the Company's securities from Nasdaq, unless the Company
timely requests an appeal of the Staff's determination to a
Hearings Panel, pursuant to the procedures set forth in the Nasdaq
Listing Rule 5800 Series.
On Oct. 12, 2022, Exela received notice from Nasdaq that the bid
price of its listed securities had closed at less than $1 per share
over the previous 30 consecutive business days, and, as a result,
did not comply with Nasdaq Listing Rule 5550(a)(2). Therefore, in
accordance with Listing Rule 5810(c)(3)(A), the Company was
provided 180 calendar days, or until April 10, 2023, to regain
compliance with the Rule.
The Company intends to timely request the hearing before the Panel
which will stay the delisting of the Company's securities pending
the issuance of a decision by the Panel and the expiration of any
extension the Panel may grant to the Company following the hearing.
The Company has been informed that hearings are typically scheduled
to occur approximately 30-45 days after the date of the hearing
request. The request for a hearing must be received by the Nasdaq
Hearings Department no later than 4:00 p.m. Eastern Time on Jan.
12, 2023. There are no assurances however, that an extension will
be granted or that a favorable decision will be obtained from the
Panel.
About Exela Technologies
Irving, TX-based Exela Technologies (www.exelatech.com) is a global
provider of transaction processing solutions, enterprise
information management, document management and digital business
process services. Utilizing foundational technologies spanning
information management, workflow automation, and integrated
communications, Exela's software and services include
multi-industry, departmental solution suites addressing finance and
accounting, human capital management, and legal management, as well
as industry-specific solutions for banking, healthcare, insurance,
and the public sector.
Exela reported a net loss of $142.39 million in 2021, a net loss of
$178.53 million in 2020, a net loss of $509.12 million in 2019, and
a net loss of $169.81 million in 2018. As of Sept. 30, 2022, the
Company had $865.27 million in total assets, $1.51 billion in total
liabilities, and a total stockholders' deficit of $647.56 million.
* * *
As reported by the TCR on Dec. 23, 2021, S&P Global Ratings raised
its issuer credit rating on its issuer credit rating on Exela
Technologies Inc. to 'CCC-' from 'SD'. The outlook is negative.
"In our view, Exela faces a material liquidity deficit over the
next year, and absent a capital infusion, a comprehensive
restructuring is likely within the next year," S&P said.
FORUM ENERGY: S&P Raises ICR to 'B-' Following Debt Conversion
--------------------------------------------------------------
S&P Global Ratings raised its issuer credit rating to 'B-' from
'CCC+' on Forum Energy Technologies Inc., a Houston-based provider
of oilfield products and services.
S&P also raised its issue-level rating on the remaining $134
million of 9% senior secured notes due in 2025 to 'B-' from 'CCC+',
and revised our recovery rating to '3' from '4'.
The positive outlook reflects S&P's view that Forum's credit
measures will continue to strengthen, with funds from operations
(FFO) to debt approaching 45% in 2024.
The upgrade to 'B-' is supported by Forum's improved credit
measures following the conversion of almost half of its term debt.
Forum completed the mandatory conversion of $123 million, or 48%,
of its $257 million of 9% senior secured convertible notes due 2025
into common stock. The conversion had an effective date of Jan. 3,
2023, and settlement date of Jan. 5, 2023. The mandatory conversion
was triggered because the average of the daily volume-weighted
average prices of the common stock traded above $30 per share over
20 consecutive trading days. The remaining $134 million of notes
outstanding are not convertible into equity. The permanent
reduction in debt and associated $11 million reduction in interest
expense meaningfully strengthen Forum's credit measures to a more
sustainable level, which supports the upgrade to 'B-' from 'CCC+'.
Improved demand for Forum's products and services support credit
measures.
Forum's activity is highly correlated to the active rig count in
the U.S., given its broad suite of products that are used in the
drilling and completion process. S&P said, "We believe utilization
on tier 1 "super-spec" land rigs and pressure pumping fleets in the
U.S. climbed throughout 2022 to reach near-full utilization, and we
anticipate utilization will remain high at least throughout 2023
under our commodity price assumptions. Following an estimated
25%-30% increase in Forum's revenues in 2022, we project a further
10% increase in 2023. We also factor in a moderate increase in
margins but note that cost inflation will continue to offset a
portion of pricing gains and limit margin improvement in the
near-term. We anticipate FFO to debt of about 40% and debt to
EBITDA of close to 2x in 2023, compared with about 10% and 6x in
2022, respectively."
The company's scale remains small compared with similarly rated
peers.
S&P said, "We apply a negative one-notch comparative ratings
analysis modifier to our 'b' anchor on Forum to arrive at our final
'B-' issuer credit rating. This reflects Forum's smaller scale
compared with oilfield service peers, such as Weatherford
International PLC (B/Stable/--) and Nabors Industries Ltd.
(B-/Stable/--).
"The positive outlook reflects our view that we could raise our
ratings on Forum over the next 12 months if FFO to debt approaches
45% on a sustained basis and it establishes a track record of
generating positive free operating cash flow (FOCF).
"We could revise our outlook to stable if credit measures weakened
such that FFO to debt approached 30% or the company does not
generate positive FOCF on a sustained basis. This would most likely
result from a decrease in commodity prices that reduces drilling
and completion activity as well as demand for products and services
that Forum offers, or from a leveraging transaction.
"We could raise our ratings on Forum if it generates positive FOCF
and FFO to debt approaches 45% for a sustained period.
Alternatively, we could consider an upgrade if the company improved
its scale and profitability to be more in line with higher rated
peers. We expect FFO to debt to be in the 35% to 40% range over the
next 12 months."
ESG credit indicators: E-4, S-2, G-2
S&P said, "Environmental factors are a negative consideration in
our credit rating analysis on Forum due to our expectation that the
energy transition will decrease demand for oilfield services and
equipment as accelerating adoption of renewable energy sources
lowers demand for fossil fuels. Additionally, the industry faces an
increasingly challenging regulatory environment, both domestically
and internationally. This is likely to have a negative impact on
Forum's profitability, with the bulk of its revenues tied to new
drilling and completions. Despite accounting for a small portion of
its total revenues, Forum also provides a suite of products that
will support companies through the energy transition, including
valves to prevent methane leakage at producing wells and methane
capture units."
FTX TRADING: Announces Cooperation Agreement with FTX DM Bahamas
----------------------------------------------------------------
FTX Trading Ltd. (d.b.a. FTX.com), and its affiliated debtors
(together, the "FTX Debtors"), and FTX Digital Markets Ltd. ("FTX
DM"), acting by the Joint Provisional Liquidators (Brian Simms,
K.C., Peter Greaves and Kevin Cambridge), on Jan. 6 announced their
agreement on terms for mutual cooperation in the chapter 11 cases
of the FTX Debtors in Delaware and the provisional liquidation of
FTX DM in The Bahamas.
Under the cooperation agreement, the parties commence work together
to share information, secure and return property to their estates,
coordinate litigation against third parties and explore strategic
alternatives for maximizing stakeholder recoveries. The parties
have agreed on parameters for involving FTX DM in the chapter 11
cases and for involving the FTX Debtors in proceedings in The
Bahamas. The parties also agreed on the disposition of real estate
in The Bahamas in a process operationally led by the JPLs and
overseen by courts in both jurisdictions, as well as a process to
confirm the inventory of digital assets under the control of the
Securities Commission of The Bahamas in the Fireblocks account
previously disclosed by the FTX Debtors. The parties are each
comfortable the digital assets have been appropriately safeguarded
by the Securities Commission as restructuring discussions
continue.
"We would like to thank all of the Joint Provisional Liquidators of
FTX DM for constructive meetings this week in Miami and all their
work on behalf of their estate," said John J. Ray III, the Chief
Executive Officer and Chief Restructuring Officer of the FTX
Debtors. "There are some issues where we do not yet have a meeting
of the minds, but we resolved many of the outstanding matters and
have a path forward to resolve the rest."
"Our meetings stressed our shared objective to find the best
solution for customers and creditors of the FTX.com platform," said
Brian J. Simms, K.C. "Each jurisdiction has different tools
available to accomplish that objective and we look forward to
working collaboratively to optimize outcomes for all of our
respective stakeholders."
The agreement is subject to the approval of the U.S. Bankruptcy
Court in Delaware and the Supreme Court of The Bahamas. The FTX
Debtors will file the Agreement on the docket in the chapter 11
cases shortly, and it will be available at
https://cases.ra.kroll.com/FTX/.
About FTX Group
FTX is the world's second-largest cryptocurrency firm. FTX is a
cryptocurrency exchange built by traders, for traders. FTX offers
innovative products including industry-first derivatives, options,
volatility products and leveraged tokens.
Then CEO and co-founder Sam Bankman-Fried said Nov. 10, 2022, that
FTX paused customer withdrawals after it was hit with roughly $5
billion worth of withdrawal requests.
Faced with liquidity issues, FTX on Nov. 9 struck a deal to sell
itself to its giant rival Binance, but Binance walked away from the
deal the next day amid reports on FTX regarding mishandled customer
funds and alleged US agency investigations.
At 4:30 a.m. on Nov. 11, 2022, Bankman-Fried ultimately agreed to
step aside, and restructuring vet John J. Ray III was quickly named
new CEO.
FTX Trading Ltd (d/b/a FTX.com), West Realm Shires Services Inc.
(d/b/a FTX US), Alameda Research Ltd. and certain affiliated
companies then commenced Chapter 11 proceedings (Bankr. D. Del.
Lead Case No. 22-11068) on an emergency basis on Nov. 11, 2022.
Additional entities sought Chapter 11 protection on Nov. 14, 2022.
FTX Trading and its affiliates each listed $10 billion to $50
million in assets and liabilities, making FTX the biggest
bankruptcy filer in the US this year. According to Reuters, SBF
shared a document with investors on Nov. 10 showing FTX had $13.86
billion in liabilities and $14.6 billion in assets. However, only
$900 million of those assets were liquid, leading to the cash
crunch that ended with the company filing for bankruptcy.
The Hon. John T. Dorsey is the case judge.
The Debtors tapped Sullivan & Cromwell, LLP as bankruptcy counsel;
Landis Rath & Cobb, LLP as local counsel; and Alvarez & Marsal
North America, LLC as financial advisor. Kroll is the claims
agent, maintaining the page
https://cases.ra.kroll.com/FTX/Home-Index
Lawyers at Paul Weiss represented SBF but later renounced
representing the entrepreneur due to a conflict of interest.
Morris, Nichols, Arsht & Tunnell LLP and Eversheld Sutherland (US)
LLP are representing the Ad Hoc Group of Non-U.S. Customers of
FTX.com.
The Official Committee of Unsecured Creditors tapped Paul Hastings
as counsel.
FTX TRADING: Owners Forced to Sell Ether Tokens for Bitcoin
-----------------------------------------------------------
Van Tran of Coin Culture reports that since the bankruptcy of Sam
Bankman-Fried's firm Alameda Research and the cryptocurrency
exchange he controlled, FTX, the firm's owners have been forced to
sell off millions of dollars worth of tokens late on Wednesday,
December 28, 2022.
Arkham Intelligence, a cryptocurrency research business, reported
that $1.7 million worth of tokens held in wallets associated with
Alameda were sold on the open market over several hours on
Wednesday. Some people on the crypto-focused social media platform
Twitter were worried that the sales might lead to a steep decline
in the value of the tokens in question.
On-chain data revealed that many Ethereum-based tokens were
collected into two wallets before being traded for the USDT
stablecoin. These tokens included the USD coin (USDC), curve (CRV),
dai (DAI), ether (ETH), and convex (CVX), among others.
The on-chain data reveals that the range of transaction values is
from a few cents to more than 15 ether. Using switching services
like FixedFloat and ChangeNow, on-chain detective ZachXBT said, the
assets were changed into bitcoin (BTC).
About FTX Group
FTX is the world's second-largest cryptocurrency firm. FTX is a
cryptocurrency exchange built by traders, for traders. FTX
offers innovative products including industry-first derivatives,
options, volatility products and leveraged tokens.
Then CEO and co-founder Sam Bankman-Fried said Nov. 10, 2022, that
FTX paused customer withdrawals after it was hit with roughly $5
billion worth of withdrawal requests.
Faced with liquidity issues, FTX on Nov. 9 struck a deal to sell
itself to its giant rival Binance, but Binance walked away from the
deal the next day amid reports on FTX regarding mishandled customer
funds and alleged US agency investigations.
At 4:30 a.m. on Nov. 11, 2022, Bankman-Fried ultimately agreed to
step aside, and restructuring vet John J. Ray III was quickly named
new CEO.
FTX Trading Ltd (d/b/a FTX.com), West Realm Shires Services Inc.
(d/b/a FTX US), Alameda Research Ltd. and certain affiliated
companies then commenced Chapter 11 proceedings (Bankr. D. Del.
Lead Case No. 22-11068) on an emergency basis on Nov. 11, 2022.
Additional entities sought Chapter 11 protection on Nov. 14, 2022.
FTX Trading and its affiliates each listed $10 billion to $50
million in assets and liabilities, making FTX the biggest
bankruptcy filer in the US this year. According to Reuters, SBF
shared a document with investors on Nov. 10 showing FTX had $13.86
billion in liabilities and $14.6 billion in assets. However,
only $900 million of those assets were liquid, leading to the cash
crunch that ended with the company filing for bankruptcy.
The Hon. John T. Dorsey is the case judge.
The Debtors tapped Sullivan & Cromwell, LLP as bankruptcy counsel;
Landis Rath & Cobb, LLP as local counsel; and Alvarez & Marsal
North America, LLC as financial advisor. Kroll is the claims
agent, maintaining the page
https://cases.ra.kroll.com/FTX/Home-Index
Lawyers at Paul Weiss represented SBF but later renounced
representing the entrepreneur due to a conflict of interest.
Morris, Nichols, Arsht & Tunnell LLP and Eversheld Sutherland (US)
LLP are representing the Ad Hoc Group of Non-U.S. Customers of
FTX.com.
The Official Committee of Unsecured Creditors tapped Paul Hastings
as counsel.
FTX TRADING: US to Probe Cryptocurrency Wallets Linked to SBF
-------------------------------------------------------------
Allyson Versprille and Ava Benny-Morrison of Bloomberg News report
federal prosecutors are looking into a series of crypto
transactions that online analysts have tied to digital wallets
associated with disgraced crypto mogul Sam Bankman-Fried, according
to a person familiar with the matter. Blockchain analysts over the
last several days have been tracking the movement of funds
-estimated to be more than $1 million by data tracker Arkham
Intelligence -- that appear to be tied to digital wallets
associated with the former chief executive of the FTX exchange and
his defunct hedge fund Alameda Research.
About FTX Group
FTX is the world's second-largest cryptocurrency firm. FTX is a
cryptocurrency exchange built by traders, for traders. FTX offers
innovative products including industry-first derivatives, options,
volatility products and leveraged tokens.
Then CEO and co-founder Sam Bankman-Fried said Nov. 10, 2022, that
FTX paused customer withdrawals after it was hit with roughly $5
billion worth of withdrawal requests.
Faced with liquidity issues, FTX on Nov. 9 struck a deal to sell
itself to its giant rival Binance, but Binance walked away from the
deal the next day amid reports on FTX regarding mishandled customer
funds and alleged US agency investigations.
At 4:30 a.m. on Nov. 11, Bankman-Fried ultimately agreed to step
aside, and restructuring vet John J. Ray III was quickly named new
CEO.
FTX Trading Ltd (d/b/a FTX.com), West Realm Shires Services Inc.
(d/b/a FTX US), Alameda Research Ltd. and certain affiliated
companies then commenced Chapter 11 proceedings (Bankr. D. Del.
Lead Case No. 22-11068) on an emergency basis on Nov. 11, 2022.
Additional entities sought Chapter 11 protection on Nov. 14, 2022.
FTX Trading and its affiliates each listed $10 billion to $50
million in assets and liabilities, making FTX the biggest
bankruptcy filer in the US this year. According to Reuters, SBF
shared a document with investors on Nov. 10 showing FTX had $13.86
billion in liabilities and $14.6 billion in assets. However, only
$900 million of those assets were liquid, leading to the cash
crunch that ended with the company filing for bankruptcy.
The Hon. John T. Dorsey is the case judge.
The Debtors tapped Sullivan & Cromwell, LLP as bankruptcy counsel;
Landis Rath & Cobb, LLP as local counsel; and Alvarez & Marsal
North America, LLC as financial advisor. Kroll is the claims agent,
maintaining the page https://cases.ra.kroll.com/FTX/Home-Index
Lawyers at Paul Weiss represented SBF but later renounced
representing the entrepreneur due to a conflict of interest.
GREENIDGE GENERATION: Obtains Limited Waiver from NYDIG, B Riley
----------------------------------------------------------------
Greenidge Generation Holdings, Inc. and its subsidiaries. Greenidge
Generation LLC, GTX GEN 1 Collateral, LLC, GSC Collateral LLC, and
GNY Collateral LLC. entered into a Limited Waiver and Amendment of
Loan Documents with NYDIG ABL LLC and NYDIG Trust Company LLC, as
disclosed in the Company's Form 8-K filed with the Securities and
Exchange Commission.
The Lender Parties and Greenidge's subsidiaries are parties to
certain Master Equipment Finance Agreements and related loan
documentation. Pursuant to the Loan Documents, Greenidge's
subsidiaries owed a payment of principal and interest in the amount
of approximately $1.0 million due on Dec. 25, 2022. Pursuant to
the NYDIG Waiver, the Lender Parties agreed that failure to pay the
December 25 payment when due would not be an event of default if
that payment were made in full by Jan. 10, 2023. The NYDIG Waiver
left the due dates for other scheduled payments under the Loan
Documents unaffected. The parties also agreed that if certain
other defaults occur, all of the principal amount due and owing
under the Loan Documents shall automatically and immediately become
due and payable.
On Dec. 29, 2022, Greenidge and B Riley Commercial Capital, LLC
entered into a Waiver and Acknowledgement Letter regarding the
terms of the Amended and Restated Bridge Promissory Note dated Aug.
10, 2022 executed by Greenidge in favor of BRCC. Under the B Riley
Waiver, BRCC agreed that Greenidge's failure to pay the
approximately $1.5 million payment of principal and interest due
under the BRCC Note on Dec. 20, 2022 would not be an event of
default if that payment were made in full by the earlier of Jan.
16, 2023 or the date that Greenidge and BRCC enter into a mutually
satisfactory amendment to the BRCC Note addressing, among other
things, future amortization requirements under the BRCC Note. The
waiver left the due dates for other scheduled payments under the
BRCC Note unaffected.
Greenidge entered into a non-binding term sheet dated as of Dec.
19, 2022 with NYDIG to potentially restructure its approximately
$74 million of debt remaining with NYDIG under the Loan Documents.
As part of that debt restructuring, NYDIG would purchase miners
with a capacity of approximately 2.8 EH/s for approximately $50
million, to be effected by reducing Greenidge's debt owed to NYDIG
by such amount. If the purchase of miners was closed by Dec. 31,
2022, Greenidge estimates it would record a loss on the sale of the
miners of approximately $60 to $70 million arising out of the
difference between the carrying value of the miners on Greenidge's
books and the amount of debt cancelled upon their sale. Based on
this information and other factors, Greenidge currently expects a
total long-lived asset impairment to the Crypto and Power segment
in the fourth quarter, including the write-down of the miners
expected to be sold to NYDIG, of approximately $90 to $110 million.
This excludes further impairments to Support.com's assets, which
are also anticipated to require a write down as a result of the
non-renewal of its largest customer contract and pending the sale
of its assets. The total carrying value as of Sept. 30, 2022 of the
Support.com assets that could be affected by this write-down was
approximately $5.0 million.
Greenidge is offering shares of its Class A Common Stock in an
at-the-market offering through B. Riley Securities, Inc. as sales
agent. In accordance with the terms BRCC Note, until such time as
the BRCC Note is paid in full or amended, Greenidge will use the
net proceeds from sales under the at-the-market offering to prepay
principal outstanding on the BRCC Note.
About Greenidge Generation
Headquartered in Fairfield, CT, Greenidge Generation Holdings Inc.
(NASDAQ: GREE) -- www.greenidge.com -- is a vertically integrated
cryptocurrency datacenter and power generation company.
Greenidge reported a net loss of $44.48 million in 2021, compared
to a net loss of $3.29 million in 2020. For the nine months ended
Sept. 30, 2022, the Company reported a net loss of $131.49
million.
"The Company anticipates that existing cash resources will be
depleted by the end of the first quarter of 2023. Depending on its
assumptions regarding the timing and ability to achieve more
normalized levels of operating revenue, the estimated amount of
required liquidity will vary significantly. Similarly, management
cannot predict when or if bitcoin prices will recover to prior
levels, or when energy costs may decrease. While the Company
continues to work to implement the options to improve liquidity,
there can be no assurance that these efforts will be successful.
Management's ability to successfully implement these options could
be negatively impacted by items outside of its control, in
particular, significant decreases in the price of bitcoin,
regulatory changes concerning cryptocurrency, increases in energy
costs or other macroeconomic conditions and other matters
identified in Part I, Item 1A "Risk Factors" of our Annual Report
on Form 10-K for the year ended December 31, 2021 and Part II, Item
1A "Risk Factors" of this Quarterly Report on Form 10-Q. Given the
lack of improvement in the above mentioned factors in the third
quarter of 2022, there is uncertainty regarding the Company's
financial condition and substantial doubt about its ability to
continue as a going concern for a reasonable period of time,"
Greenidge stated in its Quarterly Report on Form 10-Q for the
period ended Sept. 30, 2022.
GROWLIFE INC: Issues $1.87 Million Promissory Note to AJB Capital
-----------------------------------------------------------------
Growlife, Inc. disclosed in a Form 8-K filed with the Securities
and Exchange Commission it entered into a Securities Purchase
Agreement with AJB Capital Investments, LLC and issued a Promissory
Note in the principal amount of $1,870,000 to AJB pursuant to the
SPA.
The AJB Note carries an original issue discount of $168,300, to
cover AJB's monitoring costs associated. Taking into account the
OID, and per the term of the SPA and Note, the Company received
aggregate proceeds in the amount of $121,700 to the Company, with
$970,000 retained by AJB for the repayment of all amounts due and
owing under those certain promissory notes dated May 18, 2022, and
Sept. 28, 2022, issued in favor of AJB, and AJB shall return to the
Company commitment shares issued and owed under the Previous Notes,
inclusive of their guaranteed value as set forth in the Previous
Notes, and the value of those commitment shares was added to the
principal amount of the Note. Accordingly, the Previous Notes are
fully repaid and thereby retired.
The AJB Note interest at 10% a year, along with any and all other
amounts, shall be due and owing on June 30, 2023, with accrued
interest payments payable on the 1st day of each month.
Additionally, under the terms of the AJB Note, the Company may not
sell a significant portion of its assets without the approval of
AJB, may not issue additional debt that is not subordinate to AJB,
must comply with the Company's reporting requirements under the
Securities Exchange Act of 1934, and must maintain the listing of
the Company's common stock on the OTC Market or other exchange,
among other restrictions and requirements. The Company's failure
to make required payments under the Note or to comply with any of
these covenants, among other matters, would constitute an event of
default. Upon an event of default under the SPA or AJB Note, the
Note bears interest at 18%, AJB may immediately accelerate the AJB
Note due date, AJB may convert the amount outstanding under the
Note into shares of the Company's common stock at a discount to the
market price of the stock, and AJB will be entitled to its costs of
collection, among other penalties and remedies.
The Company provided customary representations and covenants to AJB
in the SPA and the AJB Note. Also pursuant to the SPA, the Company
paid AJB a commitment fee of 700,000 unregistered shares of the
company's common stock. In addition, the Company entered into a
Registration Rights Agreement with AJB pursuant to which the
Company agreed to file with the Securities and Exchange Commission
a Form S-1 by no later than 180 days from the date of the AJB Note
covering the resale of all the then existing AJB shares.
About GrowLife
GrowLife, Inc. (PHOT)-- http://www.shopgrowlife.com-- focuses on
functional mushroom business opportunities. The Company sees a
growing market, intends to service its existing distribution
channel and will build on opportunities in the medicinal mushroom
industry.
GrowLife reported a net loss of $5.47 million for the year ended
Dec. 31, 2021, compared to a net loss of $6.38 million for the year
ended Dec. 31, 2020. As of Sept. 30, 2022, the Company had $2.71
million in total assets, $9.97 million in total current
liabilities, $59,057 in total long-term liabilities, and a total
stockholders' deficit of $7.33 million.
Irvine, Calif.-based Macias Gini & O'Connell LLP, the Company's
auditor since 2021, issued a "going concern" qualification in its
report dated May 16, 2022, citing that the Company has suffered
recurring losses from operations, incurred negative cash flows from
operating activities, and has an accumulated deficit that raise
substantial doubt about its ability to continue as a going concern.
GROWLIFE INC: Settles Suit With EZ-CLONE Minority Shareholders
--------------------------------------------------------------
As previously disclosed in Growlife, Inc.'s Annual Report on Form
10-K for the year ended Dec. 31, 2021, among other disclosure, on
Oct. 15, 2018, the Company closed the Purchase and Sale Agreement
with EZ-CLONE Enterprises, Inc., a California corporation. The
Company was unable to close the EZ Agreement in accordance with the
terms and conditions thereof.
On Sept. 15, 2020, the Company received notice that William
Blackburn and Brad Mickelsen, the minority shareholders of EZ-CLONE
Enterprises, Inc., a majority owned subsidiary of the Company,
filed a complaint against the Company, in the Superior Court of
California, County of Sacramento, for claims related to breach
under the EZ Agreement. The Complaint alleged, among other things,
that the Company made certain false representations and other
claims to consummate the transaction and as a result has failed to
complete the second closing as required under EZ Agreement. The
Plaintiffs were seeking rescission of the EZ Agreement, unspecified
damages in excess of ten thousand dollars, and other equitable
relief.
On Sept. 15, 2020, the Company filed a notice of removal with the
California Superior Court, County of Sacramento, and the United
States District Court for the Eastern District of California. The
case was removed to Federal District Court for the Eastern District
of California and Plaintiffs filed an Ex Parte Application for TRO
and an Order for Preliminary Injunction with the Federal Court.
The TRO was granted on Sept. 16, 2020, and a preliminary injunction
hearing was scheduled for Sept. 29, 2020. After reviewing all
pleadings and oral arguments at the hearing, the Court issued a
ruling granting Plaintiffs' request for a preliminary injunction.
The parties provided legal briefs to the Federal court to determine
if rescission should be granted. The Court did not reach a
decision on this issue and denied, without prejudice, the Company's
effort to reverse the preliminary injunction.
On Dec. 29, 2022, to avoid the costs, risks, and uncertainties
inherent in litigation, the Company, EZ and William Blackburn
entered into that certain Settlement Agreement and General Mutual
Release whereby the Company and the EZ Parties agreed to settle,
compromise, fully, and finally resolve all the disputes and
potential disputes between them pursuant to the terms and
conditions of the EZ Agreement. Among other things, the Company
will relinquish such number of shares such that the Company owns an
aggregate number of EZ shares less than 20% and in exchange EZ will
assume certain obligations of the Company under the lease for the
real property on which EZ conducts its business and EZ will
cooperate with Company to reach an agreement with the present
landlord eliminating all liability the Company may have under the
current lease terms. Both Parties agree that the terms of the
Settlement Agreement are fair and equitable and that all such
disputes, known or unknown, between them are forever discharged and
extinguished. By agreement of the parties the Settlement Agreement
is deemed performed and complete as of Dec. 31, 2022.
About GrowLife
GrowLife, Inc. (PHOT)-- http://www.shopgrowlife.com-- focuses on
functional mushroom business opportunities. The Company sees a
growing market, intends to service its existing distribution
channel and will build on opportunities in the medicinal mushroom
industry.
GrowLife reported a net loss of $5.47 million for the year ended
Dec. 31, 2021, compared to a net loss of $6.38 million for the year
ended Dec. 31, 2020. As of Sept. 30, 2022, the Company had $2.71
million in total assets, $9.97 million in total current
liabilities, $59,057 in total long-term liabilities, and a total
stockholders' deficit of $7.33 million.
Irvine, Calif.-based Macias Gini & O'Connell LLP, the Company's
auditor since 2021, issued a "going concern" qualification in its
report dated May 16, 2022, citing that the Company has suffered
recurring losses from operations, incurred negative cash flows from
operating activities, and has an accumulated deficit that raise
substantial doubt about its ability to continue as a going concern.
GTT COMMUNICATIONS: Amended Chapter 11 Plan Effective December 30
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
confirmed the Second Amended Third Modified Joint prepackaged
Chapter 11 Plan of Reorganization of GTT Communications Inc. and
its debtor-affiliates. The Plan became effective on Dec. 30,
2022.
The Court ordered that all final requests for payment of
professional fee claims must be filed no later than Feb. 13, 2023,
which is the first business day that is 45 days after the Effective
Date.
According to the Troubled Company Reporter on Dec. 13, 2022, The
Debtors submitted a Second Amended Third Modified Joint Prepackaged
Chapter 11 Plan of Reorganization. Subject to Section 1129(a)(4)
of the Bankruptcy Code, the Debtors will pay in cash all reasonable
and documented fees and expenses of the Consenting Creditors'
Advisors, Jones Day and Huron (collectively, the "Creditor Advisor
Fees") and the Administrative Agent, in each case in accordance
with the terms and conditions of any applicable agreement with the
Debtors, including the Credit Agreement, and the Restructuring
Support Agreement, and if any such fee and/or expense is unpaid as
of the Effective Date such fee and/or expense shall be paid on the
Effective Date; provided that the Consenting Creditors' Advisors,
Jones Day and Huron shall file a notice (a "Fee Notice") with the
Bankruptcy Court with respect to any unpaid fees and expenses
reflecting the amount of such unpaid fees and expenses requested by
such Consenting Creditor Advisor (which shall not be required to
contain time detail and which shall not be required to comply with
the U.S. Trustee guidelines) reflecting the amount of the fees and
expenses requested by such Consenting Creditor Advisor, Jones Day
or Huron, as applicable. If the Debtors, Reorganized Debtors, or
the U.S. Trustee, as applicable, dispute the reasonableness of any
such Creditor Advisor Fees, the Debtors, Reorganized Debtors or the
U.S. Trustee, as applicable, shall file an objection with the
Bankruptcy Court within ten (10) calendar days of the filing of the
Fee Notice and the disputed portion of such invoice shall not be
paid until the dispute is resolved (the "Fee Notice Process"). If
no objection is filed, such Creditor Advisor Fees shall be paid by
the Debtors or the Reorganized Debtors, as applicable.
Under the Plan, holders of Class 5 General Unsecured Claims will
receive (a) satisfaction of its Allowed General Unsecured Claim in
full in the ordinary course of business in accordance with the
terms and conditions of the particular transaction and/or agreement
giving rise to such Allowed General Unsecured Claim or (b) payment
in full in Cash on the date such Allowed General Unsecured Claim
becomes payable as if the Chapter 11 Cases had not been commenced;
provided, that notwithstanding anything herein to the contrary,
claims for rejection damages in connection with any Unexpired Lease
shall be subject to the limitations of Bankruptcy Code section
502(b)(6). Class 5 is unimpaired.
Counsel to the Debtors:
Ira S. Dizengoff, Esq.
Philip C. Dublin, Esq.
David H. Botter, Esq.
Naomi Moss, Esq.
AKIN GUMP STRAUSS HAUER & FELD LLP
One Bryant Park
New York, NY 10036
Tel: (212) 872-1000
Fax: (212) 872-1002
E-mail: idizengoff@akingump.com
pdublin@akingump.com
dbotter@akingump.com
nmoss@akingump.com
A copy of the Order dated Nov. 30, 2022, is available at
https://bit.ly/3Y2bS70 from PacerMonitor.com.
A copy of the Modified Joint Prepackaged Chapter 11 Plan of
Reorganization dated Nov. 30, 2022, is available at
https://bit.ly/3EULl2M from PacerMonitor.com.
About GTT Communications
Headquartered in McLean, Va., GTT Communications, Inc. --
http://www.gtt.net/-- owns and operates a global Tier 1 Internet
network and provides a comprehensive suite of cloud networking
services.
GTT and its affiliates sought Chapter 11 protection (Bankr.
S.D.N.Y. Lead Case No. 21-11880) on Oct. 31, 2021, to implement a
prepackaged Chapter 11 plan. GTT had total assets of $2.8 billion
and total debt of $4.1 billion as of June 30, 2021. As of the
petition date, the Debtors had pre-bankruptcy funded indebtedness
totaling $2.015 billion.
Judge Michael E. Wiles oversees the cases.
The Debtors tapped Akin Gump Strauss Hauer & Feld, LLP as legal
counsel; TRS Advisors as financial advisor and investment banker;
The Siegfried Group, LLP as accounting and financial resource
services provider; Ernst & Young LLP as tax, valuation and
accounting and advisory services provider; and Alvarez & Marsal,
LLC as restructuring advisor. Brian Fox, Alvarez & Marsal's
managing director, serves as the Debtors' chief restructuring
officer. Prime Clerk, LLC is the claims agent and administrative
advisor.
On Dec. 16, 2021, the court approved the Debtors' disclosure
statement and confirmed their joint prepackaged Chapter 11 plan of
reorganization.
GTT COMMUNICATIONS: Court Confirms Chapter 11 Plan
--------------------------------------------------
Judge Michael E. Wiles has entered an order approving the
Disclosure Statement Supplement and confirming the Second Amended
Third Modified Joint Prepackaged Chapter 11 Plan of Reorganization
of GTT Communications, Inc., et al.
Any and all objections to the Amended Plan that have not been
withdrawn or resolved prior to the Combined Hearing are hereby
overruled on the merits. All withdrawn objections, if any, have
been withdrawn with prejudice.
On December 22, 2022, the Debtors filed the Voting Declaration
certifying the method and results of the Ballot tabulation for
Class 3 (2018 Credit Facility Claims) and Class 4 (Senior Notes
Claims), the only classes entitled to vote to accept or reject the
Amended Plan. As evidenced therein, 100% of Holders of Claims in
Class 3 that voted on the Amended Plan voted to accept the Amended
Plan, and 98.83% in dollar amount and 97.01% in number of Holders
of Claims in Class 4 that voted on the Amended Plan voted to accept
the Amended Plan.
Class 1 (Other Secured Claims), Class 2 (Other Priority Claims) and
Class 5 (General Unsecured Claims) are Unimpaired under the Amended
Plan and are deemed to have accepted the Amended Plan pursuant to
Bankruptcy Code section 1126(f). Class 7 (Intercompany Claims) and
Class 8 (Intercompany Interests) are presumed to either accept or
reject the Amended Plan and Class 9 (Existing GTT Equity
Interests/Section 510(b) Claims) is deemed to have rejected the
Amended Plan. Class 3 (2018 Credit Facility Claims) and Class 4
(Senior Notes Claims) are Impaired under the Amended Plan and have
voted to accept the Amended Plan in accordance with Bankruptcy Code
section 1126(c) and (d).
Because Class 9 is deemed to have rejected the Amended Plan, the
Amended Plan does not satisfy Bankruptcy Code section 1129(a)(8).
However, because the Amended Plan does not unfairly discriminate
and is fair and equitable with respect to each of the Impaired
Classes that were deemed to have rejected the Amended Plan, the
Amended Plan satisfies Bankruptcy Code section 1129(b) and,
therefore, can be confirmed notwithstanding the fact that section
1129(a)(8) is not satisfied because all other subsections of
section 1129(a) have been satisfied.
About GTT Communications
Headquartered in McLean, Va., GTT Communications, Inc. --
http://www.gtt.net/-- owns and operates a global Tier 1 Internet
network and provides a comprehensive suite of cloud networking
services.
GTT and its affiliates sought Chapter 11 protection (Bankr.
S.D.N.Y. Lead Case No. 21-11880) on Oct. 31, 2021, to implement a
prepackaged Chapter 11 plan. GTT had total assets of $2.8 billion
and total debt of $4.1 billion as of June 30, 2021. As of the
petition date, the Debtors had pre-bankruptcy funded indebtedness
totaling $2.015 billion.
Judge Michael E. Wiles oversees the cases.
The Debtors tapped Akin Gump Strauss Hauer & Feld, LLP as legal
counsel; TRS Advisors as financial advisor and investment banker;
The Siegfried Group, LLP as accounting and financial resource
services provider; Ernst & Young LLP as tax, valuation and
accounting and advisory services provider; and Alvarez & Marsal,
LLC as restructuring advisor. Brian Fox, Alvarez & Marsal's
managing director, serves as the Debtors' chief restructuring
officer. Prime Clerk, LLC is the claims agent and administrative
advisor.
On Dec. 16, 2021, the court approved the Debtors' disclosure
statement and confirmed their joint prepackaged Chapter 11 plan of
reorganization.
GYMBOREE CORP: To Seek Bankruptcy Protection for 3nd Time
---------------------------------------------------------
Hanna Krueger of NOLA.com, citing a report by CNBC, reports that
children's clothing retailer Gymboree Group is expected to file for
bankruptcy for the second time in less than two years.
The group has roughly 900 stores, from which it operates the
Gymboree, Crazy 8, and Janie and Jack Brands. If the group can
successfully sell the latter brand, which is more high-end than the
rest, they could salvage its 139-store footprint.
Gymboree previously filed for bankruptcy in June 2017 when it was
embroiled in more than $1 billion in debt left over from a buyout
by Bain Capital Partners in years before. The group then closed
about 375 stores, but emerged with hopes of sustaining the brands.
The Kenner branch was part of those early closures, but two
Gymboree stores remained in New Orleans at the Riverwalk and
Metairie at Lakeside, which is also home to a Janie and Jack
store.
About Gymboree Group
Gymboree Group, Inc., is a portfolio of children's brands operating
specialty retail stores with high-quality clothing and accessories
for children. Gymboree Group's family of brands includes Gymboree,
Janie and Jack and Crazy 8, with hundreds of retail stores across
the United States, Canada and Puerto Rico as well as online stores
at ttp://www.gymboree.com/, http://www.janieandjack.com/and
http://www.crazy8.com/
In October 2010, The Gymboree Corp. was acquired by Bain Capital
Private Equity, LP and certain of its affiliated investment funds
or investment vehicles managed or advised by it for approximately
$1.8 billion.
The Gymboree Corp. and seven affiliates each filed a Chapter 11
voluntary petition (Bankr. E.D. Va. Lead Case No. 17-32986) on June
11, 2017. Kirkland & Ellis LLP served as the Company's legal
counsel, AlixPartners LLP was the financial advisor and Lazard
Freres was the investment banker.
In September 2017, Gymboree Corp. successfully completed its
financial restructuring and emerged from Chapter 11 as a new
corporation under the name Gymboree Group, Inc. The Company's
court-confirmed Plan of Reorganization which went into effect Sept.
29, 2017, eliminated more than $900 million of debt from its
balance sheet and closed 375 stores.
Then with 900 stores, Gymboree Group, Inc., and its affiliates
sought protection under Chapter 11 of the Bankruptcy Code (Bankr.
E.D. Va. Lead Case No. 19-30258) on Jan. 17, 2019. The Debtors
tapped Milbank, Tweed, Hadley & McCloy LLP as general bankruptcy
counsel; Kutak Rock LLP as local counsel; Stifel, Nicolaus &
Company, Incorporated and Berkeley Research Group, LLC as financial
advisors. The Creditors Committee tapped Hahn & Hessen LLP as lead
counsel; Pachulski Stang Ziehl & Jones LLP, as counsel; Tavenner &
Beran, PLC, as local counsel; Whiteford Taylor & Preston LLP, as
Virginia co-counsel.
HAWAIIAN HOLDINGS: Unit Agrees to Buy 2 Extra Boeing 787-9 Aircraft
-------------------------------------------------------------------
Hawaiian Airlines, Inc., a wholly-owned subsidiary of Hawaiian
Holdings, Inc., has entered into a supplemental agreement to that
certain Purchase Agreement No. PA-04749, dated as of July 18, 2018,
with The Boeing Company, pursuant to which Hawaiian has agreed to
purchase a total of two additional Boeing 787-9 aircraft bringing
its firm order of Boeing 787-9 aircraft under the Purchase
Agreement and Supplemental Agreement to a total of 12 Boeing 787-9
aircraft, as disclosed in a Form 8-K filed with the Securities and
Exchange Commission.
Additionally, as part of the Supplemental Agreement, Hawaiian and
Boeing agreed to defer the delivery of 10 Boeing 787-9 aircraft
previously scheduled for delivery beginning in the fourth quarter
of 2022. Deliveries of these Boeing 787-9 aircraft will commence
in the fourth quarter of 2023 and will continue into 2027, with one
Boeing 787-9 aircraft now scheduled for delivery in 2023 and three
Boeing 787-9 aircraft now scheduled for delivery in 2024.
The delivery schedule represents Hawaiian's best estimate of timing
of aircraft delivery under the Purchase Agreement and Supplemental
Agreement, as of the date of this report. Actual delivery dates
are subject to change based on various potential factors, including
production delays by the manufacturer.
As a result of entering into the Supplemental Agreement, the
Company now expects its capital expenditures for 2022 to be
approximately $45 million to $60 million whereas the Company's
prior guidance was that capital expenditures for 2022 would be
approximately $120 to $135 million.
About Hawaiian Holdings
Hawaiian Holdings, Inc.'s primary asset is sole ownership of all
issued and outstanding shares of common stock of Hawaiian Airlines,
Inc. The Company is engaged in the scheduled air transportation of
passengers and cargo amongst the Hawaiian Islands (the Neighbor
Island routes) and between the Hawaiian Islands and certain cities
in the United States (the North America routes together with the
Neighbor Island routes, the Domestic routes), and between the
Hawaiian Islands and the South Pacific, Australia, New Zealand and
Asia (the International routes), collectively referred to as its
Scheduled Operations.
For the nine months ended Sept. 30, 2022, Hawaiian Holdings
reported a net loss of $189.92 million. Hawaiian Holdings reported
a net loss of $144.77 million for the year ended Dec. 31, 2021, a
net loss of $510.93 million for the year ended Dec. 31, 2020, and
net income of $223.98 million for the year ended Dec. 31, 2019. As
of Sept. 30, 2022, the Company had $4.21 billion in total assets,
$1.16 billion in total current liabilities, $1.57 billion in
long-term debt, $1.12 billion in other liabilities and deferred
credits, and $347.48 million in total shareholders' equity.
HEXION HOLDINGS: Fidelity Fund Marks $40.4M Loan at 15% Off
-----------------------------------------------------------
Fidelity Advisor Value Fund, a fund of Fidelity Advisor Series I,
has marked its $40,449,000 loan extended to Hexion Holdings Corp to
market at $34,280,000, or 85% of the outstanding amount, as of
October 31, 2022, according to a disclosure contained in its Form
N-CSR for the fiscal year ended October 31, 2022, filed with the
Securities and Exchange Commission on December 21.
Fidelity Advisor Value Fund extended a first lien term loan that
carries 7.4125% interest (CME Term SOFR 1 Month Index + 4.500%) to
Hexion Holdings Corp. The loan is scheduled to mature on March 15,
2029.
Fidelity Advisor Value Fund is a fund of Fidelity Advisor Series I,
a Trust that is registered under the Investment Company Act of
1940, as amended, as an open-end management investment company
organized as a Massachusetts business trust. Fidelity Management &
Research Company LLC (FMR) serves as investment manager.
Hexion is a global producer of adhesives and performance materials
that enable the production of engineered wood products.
HEXION INC: Fidelity Fund Marks $8.2M Loan at 21% Off
-----------------------------------------------------
Fidelity Advisor Value Fund, a fund of Fidelity Advisor Series I,
has marked its $8,290,000 loan extended to Hexion Inc to market at
$6,549,000, or 79% of the outstanding amount, as of October 31,
2022, according to a disclosure contained in its Form N-CSR for the
fiscal year ended October 31, 2022, filed with the Securities and
Exchange Commission on December 21.
Fidelity Advisor Value Fund extended a second lien term loan that
carries 11.0046% interest (CME Term SOFR 1 Month Index + 7.000%) to
Hexion Inc. The loan is scheduled to mature on February 9, 2030.
Fidelity Advisor Value Fund is a fund of Fidelity Advisor Series I,
a Trust that is registered under the Investment Company Act of
1940, as amended, as an open-end management investment company
organized as a Massachusetts business trust. Fidelity Management &
Research Company LLC (FMR) serves as investment manager.
Hexion is a global producer of adhesives and performance materials
that enable the production of engineered wood products.
HIGHWAY 30: Commences Subchapter V Case
---------------------------------------
Highway 30 Physical Therapy and Rehabilitation LLC, d/b/a OSC
Physical Therapy, filed for chapter 11 protection in the Northern
District of Indiana.
According to court filings, Highway 30 estimates between $100,000
and $500,000 in debt owed to 1 to 49 creditors. The petition
states that funds will be available to unsecured creditors.
A meeting of creditors under 11 U.S.C. Section 341(a) is slated for
Feb. 1, 2023, at 10:00 AM at Telephonic Meeting with US Trustee
Trial Attorney. Proofs of claim are due by March 13, 2023.
About Highway 30 Physical Therapy and Rehabilitation
Highway 30 Physical Therapy and Rehabilitation LLC filed a petition
for relief under Subchapter V of Chapter 11 of the Bankruptcy Code
(Bankr. N.D. Ind. Case No. 22-21920) on Dec. 31, 2022. In the
petition filed by John J. Pomponi, as member, the Debtor reported
assets between $1 million and $10 million and liabilities between
$100,000 and $500,000.
Douglas R. Adelsperger has been appointed as Subchapter V trustee.
The Debtor is represented by:
Daniel L. Freeland, Esq.
333 W 89th Avenue
Suite W4
Merrillville, IN 46410
HUNTER DOUGLAS: Fidelity Fund Marks $82.1M Loan at 17% Off
----------------------------------------------------------
Fidelity Advisor Value Fund, a fund of Fidelity Advisor Series I,
has marked its $82,134,000 loan extended to Hunter Douglas Inc to
market at $67,949,000, or 83% of the outstanding amount, as of
October 31, 2022, according to a disclosure contained in its Form
N-CSR for the fiscal year ended October 31, 2022, filed with the
Securities and Exchange Commission on December 21.
Fidelity Advisor Value Fund extended a Tranche B first lien term
loan that carries 6.3399% interest (CME Term SOFR 1 Month Index +
3.500%) to Hunter Douglas Inc. The loan is scheduled to mature on
February 25, 2029.
Fidelity Advisor Value Fund is a fund of Fidelity Advisor Series I,
a Trust that is registered under the Investment Company Act of
1940, as amended, as an open-end management investment company
organized as a Massachusetts business trust. Fidelity Management &
Research Company LLC (FMR) serves as investment manager.
Hunter Douglas Inc. manufactures building products. The Company
provides different types of window fashions like shades, sheers,
honeycombs, blinds, and shutters.
ICP GROUP: Fidelity Fund Marks $8.7M Loan at 21% Off
----------------------------------------------------
Fidelity Advisor Value Fund, a fund of Fidelity Advisor Series I,
has marked its $8,712,000 loan extended to ICP Group to market at
$6,865,000, or 79 % of the outstanding amount, as of October 31,
2022, according to a disclosure contained in its Form N-CSR for the
fiscal year ended October 31, 2022, filed with the Securities and
Exchange Commission on December 21.
Fidelity Advisor Value Fund extended a Tranche B first lien term
loan that carries 7.4241% interest (1 month U.S. LIBOR + 3.750%) to
ICP Group. The loan is scheduled to mature on December 29, 2027.
Fidelity Advisor Value Fund is a fund of Fidelity Advisor Series I,
a Trust that is registered under the Investment Company Act of
1940, as amended, as an open-end management investment company
organized as a Massachusetts business trust. Fidelity Management &
Research Company LLC (FMR) serves as investment manager.
Innovative Chemical Products Group (ICP Group) is a formulator and
manufacturer of specialty coatings, adhesives, and sealants serving
the construction and industrial end markets.
JAGUAR HEALTH: Receives Noncompliance Notice from Nasdaq
--------------------------------------------------------
Jaguar Health, Inc. received notice from the Listing Qualifications
Staff of The Nasdaq Stock Market LLC on Jan. 5 indicating that,
because the bid price for the Company's voting common stock, par
value $0.0001 per share, had closed below $0.10 per share for the
preceding ten consecutive trading days, in contravention of Nasdaq
Listing Rule 5810(3)(A)(iii), the Company's securities were subject
to delisting unless the Company timely requested a hearing before
the Nasdaq Hearings Panel to appeal the Staff's decision. The
Company intends to timely request a hearing before the Panel, which
request will stay any further delisting action by Nasdaq at least
pending the Company's hearing and the expiration of any extension
that the Panel may grant to the Company following such hearing.
According to the Company, there are no assurances that a stay will
be granted or that a favorable decision will be obtained.
Nasdaq previously granted the Company a 180-calendar grace period
to regain compliance with the minimum $1.00 bid price requirement
set forth in Nasdaq Listing Rule 5550(a)(2) through Feb. 13, 2023.
At the Special Meeting of Stockholders of the Company scheduled for
Jan. 20, 2023, the Company will seek stockholder approval for the
implementation of a reverse stock split of the Company's issued and
outstanding Common Stock at a ratio of not less than 1-for-3 and
not greater than 1-for-75, if deemed advisable and at the Board's
discretion to regain compliance with the Bid Price Rule.
About Jaguar Health
Jaguar Health, Inc. -- http://www.jaguar.health-- is a commercial
stage pharmaceuticals company focused on developing novel,
sustainably derived gastrointestinal products on a global basis.
The Company's wholly owned subsidiary, Napo Pharmaceuticals, Inc.,
focuses on developing and commercializing proprietary human
gastrointestinal pharmaceuticals for the global marketplace from
plants used traditionally in rainforest areas. Its Mytesi
(crofelemer) product is approved by the U.S. FDA for the
symptomatic relief of noninfectious diarrhea in adults with
HIV/AIDS on antiretroviral therapy.
Jaguar Health reported a net loss and comprehensive loss of $52.60
for the year ended Dec. 31, 2021, a net loss and comprehensive loss
of $33.81 million for the year ended Dec. 31, 2020, a net loss and
comprehensive loss of $38.54 million for the year ended Dec. 31,
2019, and a net loss of $32.15 million for the year ended Dec. 31,
2018. As of Sept. 30, 2022, the Company had $51.28 million in
total assets, $47.69 million in total liabilities, and $3.60
million in total stockholders' equity.
Larkspur, California-based RBSM, LLP, the Company's auditor since
2021, issued a "going concern" qualification in its report dated
March 11, 2022, citing that the Company has an accumulated deficit,
recurring losses, and expects continuing future losses. These
conditions raise substantial doubt about the Company's ability to
continue as a going concern.
JESS HALL'S: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Jess Hall's Serendipity, LLC
2920 Shotts Street
Fort Worth, TX 76107
Business Description: The Debtor manufactures spice blends and hot
sauces.
Chapter 11 Petition Date: January 9, 2023
Court: United States Bankruptcy Court
Northern District of Texas
Case No.: 23-40073
Debtor's Counsel: Scott D. Lawrence, Esq.
WICK PHILLIPS GOULD & MARTIN, LLP
3131 McKinney Ave Suite 500
Dallas, TX 75204
Tel: (214) 692-6200
Email: scott.lawrence@wickphillips.com
Estimated Assets: $500,000 to $1 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Brian Crisp as chief restructuring
officer.
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/S4OVB5I/Jess_Halls_Serendipity_LLC__txnbke-23-40073__0001.0.pdf?mcid=tGE4TAMA
JFM HAMBURG: Wins Cash Collateral Access Thru Feb 1
---------------------------------------------------
The U.S. Bankruptcy Court for the District of New Jersey authorized
JFM Hamburg LLC to use cash collateral in accordance with the
budget, through February 1, 2023.
The Debtor is permitted to use cash collateral for these purposes:
a. maintenance and preservation of its assets;
b. the continued operation of its business including, but not
limited to payroll, payroll taxes, employee expenses, and insurance
costs; and
c. the purchase of replacement inventory.
The U.S. Small Business Administration may claim an interest in the
Debtor's cash collateral. The SBA has asserted a secured claim
against the Debtor in the approximate principal amount of $165,000
as of the Petition Date. The SBA has asserted -- and the Debtor has
acknowledged and agreed -- that the SBA has, as of the Petition
Date, a valid and subsisting lien and security interest in all of
Debtor's assets inventory securing the Debtor's indebtedness,
subordinate only to the lien of Spring Bank in the Debtor's
equipment and furniture which indebtedness is not subject to
defense, offset or counterclaim of any kind or nature. The
determination will be binding upon the Debtor, but any other party
in interest will have 60 days after the entry of the order to
contest the validity, perfection or amount of the SBA's claim.
As adequate protection, the SBA is granted a replacement lien in
the Debtor's post-petition assets to the extent the use of cash
collateral results in a decrease in the value of the secured
creditor's collateral.
In addition, the SBA is granted a superpriority administrative
claim equal to any diminution in the value of the collateral
pursuant to section 507(b) of the Bankruptcy Code.
The replacement lien and security interest granted is automatically
deemed perfected upon entry of the Order without the necessity of
the SBA taking possession, filing financing statements, mortgages
or other documents.
A final hearing on the matter is set for January 31 at 10 a.m.
A copy of the order and the Debtor's budget is available at
https://bit.ly/3vQnehi from PacerMonitor.com.
The budget provides for total expenses, on a weekly basis, as
follows:
$9,350 for the week ending January 8, 2023;
$4,950 for the week ending January 15, 2023;
$10,725 for the week ending January 22, 2023; and
$4,350 for the week ending January 29, 2023.
About JFM Hamburg LLC
JFM Hamburg LLC operates a Popeye's Chicken franchise in Wayne, New
Jersey, since 2008 pursuant to a written Franchise Agreement with
Popeye's Louisiana Kitchen.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D.N.J. Case No. 23-10057) on January 4,
2023. In the petition signed by Ranjana Jethwa, manager, the Debtor
disclosed up to $100,000 in assets and up to $500,000 in
liabilities.
Judge John K. Sherwood oversees the case.
John P. Di Iorio, Esq., at Shapiro, Croland, Reiser, Apfel & Di
Iorio, LLP, is the Debtor's legal counsel.
JOANN INC: S&P Downgrades ICR to 'CCC+' Outlook Negative
--------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on U.S.-based
creative products retailer Joann Inc. and its rating on the
company's term loan to 'CCC+' from 'B-'; the '3' (50%-70%; rounded
estimate: 50%) recovery rating on this debt is unchanged.
The negative outlook reflects the potential for another downgrade
if S&P anticipates a default scenario in the subsequent 12 months.
The downgrade reflects continuing comparable-sales declines and
higher-than-expected cash burn funded by draws on the ABL facility,
which has led to elevated leverage. Joann's third-quarter
comparable sales were negative 8%, which translated to lower
revenue than before the pandemic, while it burned $37 million in
cash. The company, which benefitted from the COVID-19 pandemic
restrictions and government stimulus payments, has suffered a
pronounced decrease in revenue since these restrictions eased. S&P
said, “We believe a meaningful demand rebound is unlikely in the
near term, as we expect sluggish consumer spending growth this
year. In our view, the risk of persistent elevated inflation could
cause further deterioration in Joann's operating performance and
challenge its ability to generate meaningful free cash flow. To
mitigate these headwinds, the company recently launched a
cost-reduction program, and its supply chain has improved
significantly. Nevertheless, we expect the company to end fiscal
2023 with a lower cushion under its ABL than in fiscal 2022, with
meaningful outstanding borrowings anticipated at year end."
S&P said, “We view the company's capital structure as
unsustainable, with S&P Global Ratings-adjusted leverage in the
low-9x area in fiscal 2023. In fiscal 2023 through the third
quarter, the company's debt burden increased by $283 million to
$1.1 billion, funded by draws on the ABL facility. We expect the
company to partially repay the ABL, ending the year with about a
60% draw compared to over 80% in the third quarter. Despite that,
our base-case scenario doesn't anticipate a liquidity crisis over
the next 12 months. This is because we forecast a significant
working-capital inflow due to supply-chain normalization and
capital-expenditure adjustments.
"We expect Joann to have free operating cash flow of about negative
$150 million in fiscal 2023. The company burned $254 million in
cash in the first three quarters of fiscal 2023 due to a
supply-chain disruption and demand decline, which led to reduced
liquidity and the suspension of its dividend. In October 2022, the
company launched its focus, simplify, and grow program, which
targets $200 million in supply-chain, merchandise, and overhead
cost reductions. This initiative, expected to be fully delivered by
early fiscal 2025, should have a positive impact if executed as
planned. However, we expect operating deleveraging and more sales
promotions to partially offset operating margin improvements in the
near term as the company struggles to drive traffic.
"We forecast the company's revenue to be close to flat in fiscal
2024. Soft demand, reflected in reduced transaction volume,
interrupted sequential quarter-over-quarter revenue improvement as
more selective consumers deferred spending on highly discretionary
products. In our view, despite inflation's recent deceleration, it
remains an ongoing risk that could challenge the company's ability
to generate meaningful free cash flow. In addition, we believe
behavior changes stemming from the pandemic will likely have a
long-lasting impact on demand.
"The negative outlook reflects the risk that Joann will be unable
to stabilize its operating performance and generate meaningful free
cash flow, which could lead to a default over the subsequent 12
months.
"We could lower our rating on Joann again over the next 12 months
if we envision a default scenario over the subsequent 12 months.
This could occur if operating margins do not trend close to
historical levels and there are no prospects for significant free
cash flow generation."
S&P could raise the rating if Joann's operating performance
improved meaningfully, including:
-- Sustained positive free cash flow supporting the current
capital structure;
-- Positive same-store sales and operating margins improvement
leading to leverage below 6x; and
-- Repayment of most of the outstanding amounts under its revolver
and confidence that the outstanding term loan will be refinanced on
time and in full.
ESG credit indicators: E-2, S-2, G-2
JP INTERMEDIATE: Fidelity Fund Marks $21M Loan at 26% Off
---------------------------------------------------------
Fidelity Advisor Value Fund, a fund of Fidelity Advisor Series I,
has marked its $21,015,000 loan extended to JP Intermediate B, LLC
to market at $15,603,000, or 74% of the outstanding amount, as of
October 31, 2022, according to a disclosure contained in its Form
N-CSR for the fiscal year ended October 31, 2022, filed with the
Securities and Exchange Commission on December 21.
Fidelity Advisor Value Fund extended a Tranche B first lien term
loan that carries 9.9147% interest (3 month U.S. LIBOR + 5.500%) to
JP Intermediate B, LLC. The loan is scheduled to mature on November
20, 2025.
Fidelity Advisor Value Fund is a fund of Fidelity Advisor Series I,
a Trust that is registered under the Investment Company Act of
1940, as amended, as an open-end management investment company
organized as a Massachusetts business trust. Fidelity Management &
Research Company LLC (FMR) serves as investment manager.
Headquartered in Collierville, Tennessee, JP Intermediate B, LLC
(dba The Juice Plus Company) is a direct-seller of whole-food,
plant based nutritional supplements (98% of revenue) and growing
products.
JP INTERMEDIATE: Fidelity Fund Marks $2M Loan at 20% Off
--------------------------------------------------------
Fidelity Advisor Value Fund, a fund of Fidelity Advisor Series I,
has marked its $2,240,000 loan extended to JP Intermediate B, LLC
to market at $1,792,000, or 80% of the outstanding amount, as of
October 31, 2022, according to a disclosure contained in its Form
N-CSR for the fiscal year ended October 31, 2022, filed with the
Securities and Exchange Commission on December 21.
Fidelity Advisor Value Fund extended a second lien term loan that
carries 11.5039% interest (3 month U.S. LIBOR + 7.750%) to JP
Intermediate B, LLC. The loan is scheduled to mature on October 1,
2026.
Fidelity Advisor Value Fund is a fund of Fidelity Advisor Series I,
a Trust that is registered under the Investment Company Act of
1940, as amended, as an open-end management investment company
organized as a Massachusetts business trust. Fidelity Management &
Research Company LLC (FMR) serves as investment manager.
Headquartered in Collierville, Tennessee, JP Intermediate B, LLC
(dba The Juice Plus Company) is a direct-seller of whole-food,
plant based nutritional supplements (98% of revenue) and growing
products.
KANSAS CITY RVS: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Kansas City RVs, LLC
DBA AMPR Plaza
DBA KC RVs
DBA KC Marine
DBA KC Motorsports
DBA Automax KC
DBA KC Offroad RVs
DBA KC RV
DBA Kansas City RV
148 NE MCQuerry Road
Grain Valley, MO 64029
Business Description: The Debtor is in the business of
recreational vehicle sales & services.
Chapter 11 Petition Date: January 9, 2023
Court: United States Bankruptcy Court
Western District of Missouri
Case No.: 23-40026
Judge: Hon. Cynthia A. Norton
Debtor's Counsel: Colin Gotham, Esq.
EVANS & MULLINIX, P.A.
7225 Renner Road, Suite 200
Shawnee, KS 66217
Tel: (913) 962-8700
Fax: (913) 962-8701
Email: cgotham@emlawkc.com
Total Assets as of January 6, 2023: $256,500
Total Debts as of January 6, 2023: $2,002,880
The petition was signed by JE Cornwell 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/BEGPVPY/Kansas_City_RVs_LLC__mowbke-23-40026__0001.0.pdf?mcid=tGE4TAMA
KENNESAW LOFTBNB: Hits Chapter 11 Bankruptcy Protection
-------------------------------------------------------
Kennesaw, Georgia-based Kennesaw LoftBnB LLC filed for chapter 11
protection in the Northern District of Georgia without stating a
reason.
According to court filings, Kennesaw LoftBnB estimates between $1
million and $10 million in debt owed to 1 to 49 creditors. The
petition states that funds will be available to unsecured
creditors.
A meeting of creditors under 11 U.S.C. Section 341(a) is slated for
Feb. 2, 2023, at 10:00 AM.
About Kennesaw LoftBnB
Kennesaw LoftBnB LLC is a unique boutique hotel atop the General
Store Food Hall, with a side of 24/7 Kennesaw Curbside.
Kennesaw LoftBnB LLC filed a petition for relief under of Chapter
11 of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 22-60646) on
Dec. 30, 2022. In the petition filed by Wayne Sisco, as sole
member, the Debtor reported assets and liabilities between $1
million and $10 million.
The Debtor is represented by:
Will B. Geer, Esq.
Rountree, Leitman, Klein & Geer, LLC
2881 N. Main St., NW
Kennesaw, GA 30144
KLOECKNER PENTAPLAST: Fidelity Fund Marks $8.8M Loan at 17% Off
---------------------------------------------------------------
Fidelity Advisor Value Fund, a fund of Fidelity Advisor Series I,
has marked its $8,890,000 loan extended to Kloeckner Pentaplast of
America Inc to market at $7,423,000, or 83% of the outstanding
amount, as of October 31, 2022, according to a disclosure contained
in its Form N-CSR for the fiscal year ended October 31, 2022, filed
with the Securities and Exchange Commission on December 21.
Fidelity Advisor Value Fund extended a Tranche B first lien term
loan that carries 8.2592% interest (1 month U.S. LIBOR + 4.750%) to
Kloeckner Pentaplast of America Inc. The loan is scheduled to
mature on February 9, 2026
Fidelity Advisor Value Fund is a fund of Fidelity Advisor Series I,
a Trust that is registered under the Investment Company Act of
1940, as amended, as an open-end management investment company
organized as a Massachusetts business trust. Fidelity Management &
Research Company LLC (FMR) serves as investment manager.
Kloeckner Pentaplast of America Inc. specializes in the
manufacturing of vinyl, polyester, film, and barrier films for
medical device, food, electronics, cosmetic, pharmaceutical,
thermoform packaging, and printing applications.
KURNCZ FARMS: Secured Creditor Files Restated Liquidating Plan
--------------------------------------------------------------
Secured creditor PNL Devine, LLC, filed an Amended and Restated
Plan of Liquidation and an Amended and Restated Disclosure
Statement for debtor Kurncz Farms Inc.
The Amended Creditor Plan places control over Debtor's assets into
the hands of a Liquidating Trustee to be sold for the benefit of
creditors on an expeditious and reasonable basis. Upon confirmation
of the Amended Creditor Plan, PNL Devine and the Internal Revenue
Service ("IRS") will be granted relief from the stay to pursue
foreclosure and other relief as to Real Property owned by Kurncz
family members and their trusts. PNL Devine believes that the debts
owed to PNL Devine and the IRS could be paid in full from the
liquidation of the Real Property. The liquidation of the Real
Property will reduce, and possibly pay in full, the Secured Claims
of PNL Devine and the IRS. If that happens, then the unsecured and
other creditors could be paid in full from the liquidation of
Debtor's assets. PNL Devine believes the Amended Creditor Plan
presents the best opportunity for creditors to receive payment in
this Case.
With an effective date of October 18, 2021, PNL Devine obtained a
preliminary appraisal of the Real Property. The Real Property is
owned by the Kurncz family members and a trust. The Real Property
is located in Clinton County, Gratiot County and Shiawassee County.
The appraisal generally describes the Real Property as consisting
of 34 tax parcels that total 1,773.18+/- acres.
The subject property includes 1,541+/- acres of cropland, 36.75+/-
acres of building site, and 162.7+/- acres of recreational/wooded
land. The remainder is road right-of-way.
A portion of the Real Property is improved with a dairy production
facility at 4777 N. Gilson Rd, St. Johns, MI. Additionally, there
are three improved sites which include houses, and storage sheds.
The vacant land parcels are located throughout northeast Clinton
County, southeast Gratiot County and northwest Shiawassee County,
MI.
The property is also improved with employee housing, a 2,350-head
capacity dairy production facility, feed and manure storage
facilities.
According to Kurnez Farms, the Main Dairy Production Complex was
mostly constructed in 2010, with Clinton County stating it was
mostly built in 2005 and 2006. It was constructed with higher
quality components and considerations i.e., Double-24 parlor
equipment that is expandable to a Double-36 with full basement
underneath, concrete block exterior with brick edging throughout
the front end of the complex, and glazed block walls throughout the
parlor and milk transfer area with painted floors. A freestall barn
was added in 2016, with site prep completed for an additional barn
to the west of this improvement. This complex currently
accommodates 2,350 sand-bedded stalls along with sand separation
lanes within the manure system.
The main office has knotty pine wainscoting walls along with carpet
flooring. Employee break room consists of the common amenities
along with a restroom with shower. The utility room contains all
the necessary equipment for commercial dairy production and
exhibits average condition and utility.
The Schedules list unsecured claims of $3,377,312.84. According to
the Schedules, Debtor owes no priority unsecured claims, and Debtor
has no leases. If the assets owned Debtor were liquidated, it
appears unsecured claims and priority claims would receive no
Distributions.
The plan shall be funded by the liquidation of the Debtor's assets
by the Liquidating Trustee on an expeditious and reasonable basis.
Within 5 days of entry of the Confirmation Order, the UST will
appoint the Trustee. The Trustee will work with Debtor to cease
business operations in a manner giving due consideration to the
harvesting of crops and the care of Debtor's cattle herd. Upon
cessation of business operations, the Trustee will commence to
liquidate the assets of Debtor in a prudent and expeditious manner,
consistent with good business judgment. As assets are sold, and
except for the Secured Claims of the IRS and PNL Devine, Allowed
Secured Claims will be paid at each closing of a sale, in order of
priority, after payment of typical sale and closing costs. Each
holder of an Allowed Secured Claim will provide at the time of
closing on the sale of its collateral a partial or full release, as
appropriate, of its Lien on the asset being sold. The sale proceeds
remaining after payment of typical sale and closing costs and any
Claims secured by a Lien on the asset(s) sold will be retained by
the Trustee (the "Escrowed Funds") for future Distribution in
accordance with this Amended Creditor Plan and an Order of the
Bankruptcy Court. Except for Allowed Secured Claims paid by the
Trustee upon a liquidation of collateral, all Liens shall attach to
the proceeds from the liquidation of Debtor's assets with the same
rank, validity, priority and status, existing as of the date Debtor
commenced this Case.
If the Secured Claims of PNL Devine and the IRS are not paid in
full within 30 months after entry of the Confirmation Order, then
the following shall occur: Of the remaining Escrowed Funds held by
the Liquidating Trustee, 40% shall be distributed promptly by the
Liquidating Trustee to pay any remaining Trustee's fees and any
remaining Administrative Claims, and then to unsecured creditors on
the Allowed Unsecured Claims in accordance with the priorities set
forth in the Bankruptcy Code. The remaining 60% of the Escrowed
Funds shall be paid first to the IRS until its Secured Claim is
paid in full and then to PNL Devine until its Secured Claim is paid
in full. Any remaining Escrowed Funds thereafter shall be
distributed to unsecured creditors on the remaining balances of
their Allowed Unsecured Claims in accordance with the priorities of
the Bankruptcy Code. Any Escrowed Funds remaining after payment in
full of Allowed Unsecured Claims shall be distributed to Debtor's
shareholders.
Secured Creditor's counsel:
Scott H. Hogan, Esq.
FOSTER, SWIFT, COLLINS & SMITH, P.C.
1700 E. Beltline Avenue NE, Suite 200
Grand Rapids, MI 49525
Tel: (616) 726-2207
A copy of the Disclosure Statement dated Dec. 28, 2022, is
available at https://bit.ly/3jGiJDr from PacerMonitor.com.
About Kurncz Farms
Kurncz Farms, Inc. operates in the cattle ranching and farming
industry. The company is based in Saint Johns, Mich.
Kurncz Farms sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. W.D. Mich. Case No. 21-02612) on Nov. 30, 2021,
listing as much as $10 million in both assets and liabilities.
Peter J. Kurncz, president of Kurncz Farms, signed the petition.
Susan M. Cook, Esq., at Warner Norcross + Judd, LLP and Barron
Business Consulting serve as the Debtor's legal counsel and
business consultant, respectively.
The U.S. Trustee for Region 17 appointed an official committee of
unsecured creditors in the Debtor's case on Nov. 22, 2021. The
committee is represented by Keller & Almassian, PLC.
LV OPPORTUNITY: Unsecureds Owed $222K to Get $7K in Plan
--------------------------------------------------------
LV Opportunity Zone LLC, Series 5, submitted a First Disclosure
Statement
The Debtor's current property portfolio consists of one property
and all improvements thereto located at 2849 Botticelli Drive,
Henderson, Nevada 89052; APN: 191-01-219-036. The Debtor has
limited operating history; however, the operations of the Debtor
are not complex as the only asset is a rental property that will
generate approximately $4,500.00-$6,500 per month in gross rental
income.
Under the Plan, Class 4 General Unsecured Claims will receive a
single Plan Payment of $7,392, which shall be a contribution made
from the Debtor's member. Unsecured claims are estimated to total
$222,275. Holders of Class 4 General Unsecured Claims shall
receive their pro rata share of the Debtor's distribution payment.
All portions of allowed Class 4 unsecured claims that remain
unpaid, and at the conclusion of the payments required under this
Plan (the "Plan Term"), will cease 12 months after the Effective
Date and shall be forever discharged and rendered non-collectable
against the Debtor or Debtor's property. Class 4 is impaired.
On the Effective Date payments to creditors in Classes 1-4 shall be
funded from the Debtor's rental income and equity interest holder
contributions should the rental income not be sufficient. Payments
to Class 4 creditors required under the Plan will be funded by the
Debtor's member. This single payment shall be paid within 12
months from the entry of the confirmation order. In addition, the
Debtor will utilize all funds remaining in the DIP account post
confirmation as a contingency reserve for vacancies, emergency and
general repairs, tenant turnover, advertising and for foreseeable
increases in property taxes and insurance and income taxes on
rental income.
Attorney for the Debtor:
Steven L. Yarmy, Esq.
7464 W Sahara Ave, STE 8
Las Vegas, Nevada 89117
Tel: (702) 586-3513
Fax: (702) 586-3690
E-mail: sly@stevenyarmylaw.com
A copy of the Disclosure Statement dated Dec. 28, 2022, is
available at https://bit.ly/3G6QpBG from PacerMonitor.com.
About LV Opportunity Zone
On Nov. 16, 2022, LV Opportunity Zone LLC, Series 5 filed a
voluntary petition for relief under chapter 11 of the Bankruptcy
Code (Bankr. D. Nev. Case No. 22-14100) on Nov. 16, 2022. The
Debtor is represented by Steven L. Yarmy, Esq.
MAGNOLIA OFFICE: Using Incorrect MORs, Says US Trustee
------------------------------------------------------
The United States Trustee for Region 21 submitted objections to the
Disclosure Statement filed by Magnolia Office Investments, LLC.
The U.S. Trustee notes that the Debtor is not a small business
debtor and has been using the incorrect monthly operating reports.
The U.S. Trustee points out that the Plan is based upon a sale or
refinance of the debt within 6 months of the confirmation. But the
Disclosure Statement fails to provide sufficient information
regarding the Debtor's attempts to obtain success in either option.
The pleadings contain no disclosure regarding marketing the
property or how the Debtor will seek to refinance the debt.
The U.S. Trustee does not understand the following sentence on page
9: "There appear to be several disputed, unliquidated or contingent
claims at this time and therefore all claims scheduled or for which
a previous Proof of Claim was filed are to be deemed Allowed claims
unless objected to."
The U.S. Trustee does not understand why Mr. Patel will receive a
release of his liability to the Class 1 creditor if the property is
sold for more than $3.6 million, especially when the debt owed is
listed to be excess of $4.9 million.
The U.S. Trustee further points out that the claims in Classes 2, 3
and 4 are to be treated in Class 7. The documents should indicate
in WHICH class such creditors will be voting.
The U.S. Trustee asserts that the disclosure statement and plan
estimate Class 7 unsecured claims to be $13,832.51. The U.S.
Trustee questions the accuracy of this number in light of the fact
that the total of claims in Classes 2, 3 and 4 is $275,416.99.
Additionally, the schedules reflect Schedule F unsecured claims far
in excess of $13,832.51.
According to the U.S. Trustee, the disclosure statement and plan
contain language that only relates to individual debtors. This
language must be deleted as it does not apply to a corporate
debtor.
The U.S. Trustee points out that the treatment of Class 7 as
provided in the Plan appears to release the Debtor's equity, Anand
Patel, for any debt he may have guaranteed. The U.S. Trustee
opposes non-debtor third-party releases.
The U.S. Trustee further points out that the Debtor is delinquent
in payment of U.S. Trustee's fees.
MARY IDA TOWNSON
United States Trustee
HEIDI A. FEINMAN
Assistant United States Trustee
Office of the U.S. Trustee
51 S.W. First Avenue, Room 1204
Miami, FL 33130
Tel: (305) 536-7285
About Magnolia Office Investments
Magnolia Office Investments, LLC, is a single asset real estate (as
defined in 11 U.S.C. Sec. 101(51B)). It owns the commercial office
building located at 1211 Governors Square Blvd., Tallahassee, Fla.,
which is valued at $5.5 million.
Magnolia Office Investments sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. S.D. Fla. Case No. 22-14044) on May 24,
2022. In the petition signed by Anand Patel, as managing member,
Magnolia Office Investments listed as much as $10 million in both
assets and liabilities.
The case is assigned to Judge Erik P. Kimball.
David L. Merrill, Esq., at The Associates is the Debtor's legal
counsel.
MARY A II: Committee Taps Trenam as Legal Counsel
-------------------------------------------------
The official committee of unsecured creditors of The Mary A II, LLC
received approval from the U.S. Bankruptcy Court for the Middle
District of Florida to employ Trenam Kemker Scharf Barkin Frye
O'Neill & Mullis, P.A. as its legal counsel.
The firm's services include:
(a) advising the committee in connection with its powers and
duties;
(b) taking all necessary actions to protect the committee,
including the prosecution of actions on its behalf, the defense of
any actions commenced against it, and negotiations concerning all
litigation in which it is involved;
(c) preparing legal papers;
(d) assisting the committee in the review, analysis and
negotiation of any Chapter 11 plan of reorganization or liquidation
that may be filed, and assisting the committee in the review,
analysis and negotiation of the disclosure statement accompanying
any such plan;
(e) counseling the committee with regard to its rights and
obligations;
(f) appearing, as appropriate, before the bankruptcy court, the
appellate courts, and the U.S. Trustee; and
(g) other necessary legal services.
Trenam will be paid at these rates:
Lara Roeske Fernandez $525 per hour
Stephanie C. Lieb $450 per hour
Rhys P. Leonard $400 per hour
In addition, the firm will receive reimbursement for out-of-pocket
expenses incurred.
As disclosed in court filings, Trenam is a "disinterested person"
within the meaning of Section 101(14) of the Bankruptcy Code.
The firm can be reached at:
Lara Roeske Fernandez, Esq.
Stephanie C. Lieb, Esq.
Trenam Kemker Scharf Barkin
Frye O'Neill & Mullis, P.A.
101 E. Kennedy Blvd., Suite 2700
Tampa, FL 33602-5150
Tel: (813) 223-7474
Fax: (813) 229-6553
Email: lfernandez@trenam.com
slieb@trenam.com
About The Mary A II
The Mary A II, LLC, a company based in Tampa, Fla., filed a
petition under Chapter 11, Subchapter V of the Bankruptcy Code
(Bankr. M.D. Fla. Case No. 22-01177) on March 25, 2022, with as
much as $10 million in both assets and liabilities. Ruediger
Mueller serves as Subchapter V trustee.
Judge Caryl E. Delano oversees the case.
Alberto F. Gomez, Jr., Esq., at Johnson Pope Bokor Ruppel & Burns,
LLP serves as the Debtor's legal counsel and William Long, Jr. at
Jonah Consulting Group, LLC, serves as is chief restructuring
officer.
The U.S. Trustee for Region 21 appointed an official committee of
unsecured creditors in the Debtor's Chapter 11 case on Nov. 22,
2022. The committee is represented by Trenam, Kemker, Scharf,
Barkin, Frye, O'Neill & Mullis, P.A.
MATTRESS FIRM: Fidelity Fund Marks $24.4M Loan at 15% Off
---------------------------------------------------------
Fidelity Advisor Value Fund, a fund of Fidelity Advisor Series I,
has marked its $24,488,000 loan extended to Mattress Firm Inc to
market at $20,888,000, or 85% of the outstanding amount, as of
October 31, 2022, according to a disclosure contained in its Form
N-CSR for the fiscal year ended October 31, 2022, filed with the
Securities and Exchange Commission on December 21.
Fidelity Advisor Value Fund extended a Tranche B first lien term
loan that carries 8.4327% interest (1 month U.S. LIBOR + 4.250%) to
Mattress Firm Inc. The loan is scheduled to mature on September 24,
2028.
Fidelity Advisor Value Fund is a fund of Fidelity Advisor Series I,
a Trust that is registered under the Investment Company Act of
1940, as amended, as an open-end management investment company
organized as a Massachusetts business trust. Fidelity Management &
Research Company LLC (FMR) serves as investment manager.
Mattress Firm, Inc. is an American mattress store chain,
headquartered in Houston, Texas.
MED PARENTCO: Fidelity Fund Marks $12.2M Loan at 22% Off
--------------------------------------------------------
Fidelity Advisor Value Fund, a fund of Fidelity Advisor Series I,
has marked its $12,237,000 loan extended to MED ParentCo LP to
market at $9,576,000, or 78% of the outstanding amount, as of
October 31, 2022, according to a disclosure contained in its Form
N-CSR for the fiscal year ended October 31, 2022, filed with the
Securities and Exchange Commission on December 21.
Fidelity Advisor Value Fund extended a first lien term loan that
carries 8.0039% interest (1 month U.S. LIBOR + 4.250%) to MED
ParentCo LP. The loan is scheduled to mature on August 31, 2026.
Fidelity Advisor Value Fund is a fund of Fidelity Advisor Series I,
a Trust that is registered under the Investment Company Act of
1940, as amended, as an open-end management investment company
organized as a Massachusetts business trust. Fidelity Management &
Research Company LLC (FMR) serves as investment manager.
MED ParentCo LP. (MyEyeDr) provides management services to MyEyeDr.
O.D. optometrists and their practices. MyEyeDr practices offer
vision care services, prescription eyeglasses and sunglasses, and
contact lenses. MyEyeDr has been controlled by affiliates of
Goldman Sachs Merchant Banking Division since August 2019.
MED PARENTCO: Fidelity Fund Marks $2.8M Loan at 25% Off
-------------------------------------------------------
Fidelity Advisor Value Fund, a fund of Fidelity Advisor Series I,
has marked its $2,851,000 loan extended to MED ParentCo LP to
market at $2,138,000, or 75% of the outstanding amount, as of
October 31, 2022, according to a disclosure contained in its Form
N-CSR for the fiscal year ended October 31, 2022, filed with the
Securities and Exchange Commission on December 21.
Fidelity Advisor Value Fund extended a second lien term loan that
carries 12.0039% interest (1 month U.S. LIBOR + 8.250%) to MED
ParentCo LP. The loan is scheduled to mature on August 30, 2027.
Fidelity Advisor Value Fund is a fund of Fidelity Advisor Series I,
a Trust that is registered under the Investment Company Act of
1940, as amended, as an open-end management investment company
organized as a Massachusetts business trust. Fidelity Management &
Research Company LLC (FMR) serves as investment manager.
MED ParentCo LP. (MyEyeDr) provides management services to MyEyeDr.
O.D. optometrists and their practices. MyEyeDr practices offer
vision care services, prescription eyeglasses and sunglasses, and
contact lenses. MyEyeDr has been controlled by affiliates of
Goldman Sachs Merchant Banking Division since August 2019.
MIDTOWN WEST: CAF Bridge to Hold Auction on January 19
------------------------------------------------------
Secured creditor CAF Bridge Borrower MS LLC will offer for sale, at
public auction, all member and other equity interests in and to
Midtown West 47 St LLC ("collateral"), which owns and operates the
real property located at 343 West 47th Street, New York, New York
10036.
The public auction will be held on Jan. 19, 2023, at 2:00 p.m.
(EST) at the office of Holland & Knight LLP, located at 900 Third
Avenue, 20th Floor, New York, New York 10022, with an option to
participate virtually via the following Zoom meeting link:
https://bit.ly/W47UCC2, access code: 840 9921 3211, Password:
783033, call-in number: +1 646-931-3860 (US).
The collateral will be sold to the highest qualified bidder;
provided, however, that the Secured Party reserves the right to
cancel the sale in its entirety, or to adjourn the sale to a future
date.
The sale will be conducted by Matthew D. Mannion of Mannion
Auctions LLC.
Interested parties who do not contact the Secured Party's counsel
prior to the sale will not be permitted to enter a bid.
Attention:
John M. Doherty, Esq.
Holland & Knight LLP
900 Third Avenue, 20th Floor
New York, NY 10022
Tel: (212) 751-3003
Email: jack.doherty@hklaw.com
MOBIQUITY TECHNOLOGIES: Signs Securities Purchase Deal With Walleye
-------------------------------------------------------------------
Mobiquity Technologies, Inc., and Walleye Opportunities Master Fund
Ltd, a Cayman Islands company, have entered into a Securities
Purchase Agreement for the Investor to purchase from the Company
(i) a senior secured 20% OID nine-month promissory note in an
aggregate original principal amount of $1,437,500, and (ii) a
warrant to purchase shares of the Company's common stock, par value
$0.0001 per share, which is not exercisable until July 1, 2023.
A total of 522,727 shares of Common Stock, or approximately 5.3% of
the Company's outstanding shares of Common Stock, were issued to
the Investor as an incentive on the transaction, excluding the
above referenced Investor Warrant, the shares of Common Stock
exercisable pursuant to such Investor Warrant not being considered
beneficially owned by the Investor until the Investor Warrant is
exercisable within 60 days. A fee of $103,500 plus warrants to
purchase 26,136 shares of Common Stock exercisable at $0.484 per
share were issued to Spartan Capital Securities LLC. Approximately
$163,000 of the loan proceeds were utilized to retire a small
business loan originally in the principal amount of $150,000. The
Investor Note will only become convertible into Common Stock upon
the occurrence of an Event of Default under and as defined in the
Investor Note on terms set forth in the Investor Note. The Company
granted a security interest in all of its assets to the Investor as
collateral for its obligations under the Investor Note pursuant to
a Security Agreement. In addition, the Company's subsidiaries
guaranteed the obligations of the Company under the Investor Note
pursuant to a Subsidiary Guarantee and granted a first lien
security interest in all of their assets to the Investor as
additional collateral pursuant to the Security Agreement.
About Mobiquity
Headquartered in Shoreham, NY, Mobiquity Technologies, Inc. is a
next-generation marketing and advertising technology and data
intelligence company which operates through its proprietary
software platforms in the programmatic advertising space. The
Company's product solutions are comprised of two proprietary
software platforms: its advertising technology operating system (or
ATOS) platform; and its data intelligence platform.
Mobiquity reported a net comprehensive loss of $34.95 million for
the year ended Dec. 31, 2021, a net comprehensive loss of $15.03
million for the year ended Dec. 31, 2020, and a net comprehensive
loss of $44.03 million for the year ended Dec. 31, 2019. As of
Sept. 30, 2022, the Company had $4.02 million in total assets,
$1.83 million in total liabilities, and $2.20 million in total
stockholders' equity.
Lakewood, Co-based BF Borgers CPA PC, the Company's auditor since
2018, issued a "going concern" qualification in its report dated
March 29, 2022, citing that the Company has suffered recurring
losses from operations and has a significant accumulated deficit.
In addition, the Company continues to experience negative cash
flows from operations. These factors raise substantial doubt about
the Company's ability to continue as a going concern.
MONTGOMERY REALTY: Taps Lang Richert & Patch as Special Counsel
---------------------------------------------------------------
Montgomery Realty Group, LLC seeks approval from the U.S.
Bankruptcy Court for the Northern District of California to employ
Lang Richert & Patch as its special litigation and corporate
counsel.
The Debtor requires legal assistance in the litigation involving
The Roofing Company (Case No. C21-01774), which is pending in the
Contra Costa Superior Court. In addition, the Debtor needs legal
representation in corporate matters that may arise.
Stan Blyth, Esq., the attorney principally responsible for this
representation, will charge $350 per hour for his services.
As disclosed in court filings, Lang Richert & Patch neither holds
nor represents any interest adverse to the Debtor and its estate.
The firm can be reached through:
Stan D. Blyth, Esq.
Lang Richert & Patch
Fig Garden Financial Center
5200 North Palm Avenue, Fourth Floor
Fresno, CA 93704
Phone: 559-228-6700
Fax: 559-228-6727
Email: sdb@lrplaw.net
About Montgomery Realty Group
Montgomery Realty Group, LLC is the owner of a commercial real
property located at 1675 Willow Pass Road, Concord, Calif.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Calif. Case No. 22-41290) on Dec. 20,
2022. In the petition signed by its manager, Raj Maniar, the Debtor
disclosed up to $50 million in both assets and liabilities.
Judge William J. Lafferty oversees the case.
Michael St. James, Esq., at St. James Law, P.C. is the Debtor's
bankruptcy counsel. Sullivan Blackburn Pratt and Lang Richert &
Patch serve as special counsels.
MONTGOMERY REALTY: Taps Sullivan Blackburn Pratt as Special Counsel
-------------------------------------------------------------------
Montgomery Realty Group, LLC seeks approval from the U.S.
Bankruptcy Court for the Northern District of California to employ
Sullivan Blackburn Pratt as its special litigation counsel.
The Debtor requires the assistance of the firm to evaluate and, if
appropriate, to prosecute claims against Cathay Bank.
In 2018, the Debtor received mortgage financing from the bank for
its real property located at 1675 Willow Pass Road, Concord, Calif.
Last year, Cathay declared the mortgage in default, accelerated the
mortgage and refused to accept payments.
Christopher Sullivan, Esq., the attorney principally responsible
for this representation, will charge $650 per hour for his
services.
Sullivan Blackburn Pratt received a $25,000 pre-bankruptcy retainer
from the Debtor.
As disclosed in court filings, Sullivan Blackburn Pratt neither
holds nor represents any interest adverse to the Debtor and its
estate.
The firm can be reached through:
Christopher D. Sullivan, Esq.
Sullivan Blackburn Pratt
456 Montgomery Street, Suite 900
San Francisco, CA 94104
Direct: (415) 869-6823
Email: csullivan@sullivanblackburn.com
About Montgomery Realty Group
Montgomery Realty Group, LLC is the owner of a commercial real
property located at 1675 Willow Pass Road, Concord, Calif.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Calif. Case No. 22-41290) on Dec. 20,
2022. In the petition signed by its manager, Raj Maniar, the Debtor
disclosed up to $50 million in both assets and liabilities.
Judge William J. Lafferty oversees the case.
Michael St. James, Esq., at St. James Law, P.C. is the Debtor's
bankruptcy counsel. Sullivan Blackburn Pratt and Lang Richert &
Patch serve as special counsels.
MORRIS RAILS: Unsecured Claims Not Impaired in Plan
---------------------------------------------------
Morris Rails Real Estate, LLC, submitted a Plan and a Disclosure
Statement.
The Debtor owns one piece of real property in Dallas, Texas. The
Debtor proposes to pay its current indebtedness through the sale of
its property to pay the allowed claims of the creditors of the
Debtor.
The Debtor believes the value of the Property is sufficient to
repay the current indebtedness against the Property.
The Debtor will sell the Property to Roland Garza, or his assigns
("Garza"). The Debtor's Plan will break the existing claims into 5
categories of claimants. These claimants will receive cash payments
on the Effective Date.
Under the Plan, Class 4 Claimants (Allowed Unsecured Claims) shall
be paid in full on or before the Effective Date. The Class 4
creditors are not impaired.
Garza shall provide proof of good funds at confirmation.
Attorneys for the Debtor:
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
A copy of the Disclosure Statement dated Dec. 28, 2022, is
available at https://bit.ly/3Q6v9kc from PacerMonitor.com.
About Morris Rails Real Estate
Morris Rails Real Estate, LLC is a single asset real estate as
defined in 11 U.S.C. Section 101(51B). It owns a property located
at 5142 Vanderbilt, Dallas, valued at $1.2 million.
Morris Rails Real Estate filed a voluntary petition for relief
under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Texas Case No.
22-31841) on Oct. 3, 2022, with $1.2 million in assets and $950,000
in liabilities. Sameer Mohan, managing member, signed the
petition.
Eric A. Liepins, PC serves as the Debtor's legal counsel.
MUSCLEPHARM CORP: Taps Stretto as Claims and Noticing Agent
-----------------------------------------------------------
MusclePharm Corp. seeks approval from the U.S. Bankruptcy Court for
the District of Nevada to hire Stretto, Inc. as claims, noticing
and solicitation agent.
The Debtor requires a claims and noticing agent to serve notices to
creditors, equity security holders and other concerned parties, and
provide computerized claims-related services.
Stretto will bill the Debtor no less frequently than monthly.
Sheryl Betance, a senior managing director at Stretto, disclosed in
a court filing that her firm is a "disinterested person" as that
term is defined in Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
Sheryl Betance
Stretto, Inc.
410 Exchange, Ste. 100
Irvine, CA 92602
Telephone: (714) 716-1872
Email: sheryl.betance@stretto.com
About MusclePharm Corp.
Headquartered in Denver, Colorado, MusclePharm Corporation
(OTCQB:MSLP) -- http://www.musclepharm.com/and
http://www.musclepharmcorp.com/-- is a lifestyle company that
develops, manufactures, markets and distributes branded
nutritional
supplements. The Company offers a broad range of performance
powders, capsules, tablets, gels and on-the-go ready to eat snacks
that satisfy the needs of enthusiasts and professionals alike.
MusclePharm filed a petition for relief under Subchapter V of
Chapter 11 of the Bankruptcy Code (Bankr. D. Nev. Case No.
22-14422) on Dec. 15, 2022. In the petition filed by its chief
executive officer, Ryan Drexler, the Debtor reported assets and
liabilities between $10 million and $50 million.
The Honorable Natalie M. Cox is the case judge.
The Debtor is represented by Samuel A. Schwartz, Esq., at Schwartz
Law, PLLC.
The U.S. Trustee for Region 17 appointed an official committee to
represent unsecured creditors in the Debtor's case.
NAKED JUICE: S&P Downgrades ICR to 'CCC' on Customer Losses
-----------------------------------------------------------
S&P Global Ratings lowered its rating on the second-lien term loan
to 'CCC' from 'CCC+' on Naked Juice LLC. The recovery rating
remains '6', reflecting our expectation for negligible (0%-10%;
rounded estimate: 0%) recovery.
S&P said, "The stable outlook reflects our belief that Naked Juice
has stabilized operations and will slowly regain some lost business
over the next year. However, credit metrics will remain weak,
including adjusted leverage of about 9x at fiscal year-end 2023 and
negative free operating cash flow (FOCF).
"We expect moderate profit and credit measure improvement in 2023
following significant deterioration in 2022.
"Naked Juice has performed well below our expectations, with the
full impact of several headwinds becoming evident in the third
quarter of 2022. Management indicates reported EBITDA excluding
stand-alone costs fell 32.5% year to date and almost 50% in the
third quarter. We expect S&P Global Ratings-adjusted leverage will
approach 10x as of fiscal year-end 2022, compared to about 7.25x
pro forma at close for the leveraged buyout. The company lost
business across nearly all channels because of material,
ingredient, and labor shortages that led to sizable declines in
fill rates, particularly in certain core Tropicana orange juice and
Naked Juice premium juice stock-keeping units. It performed
particularly poorly in Europe due to category contraction,
private-label share gains, and customers delisting Naked Juice
brands in France. In addition to widespread supply chain
disruptions across the U.S. economy, the company's distribution
network--anchored by chilled rail lines--was disrupted as many
businesses moved to rail because of trucking shortages. Naked Juice
also could not pass through all input cost inflation.
"Management indicates service has improved significantly and all
pack sizes are off allocation. Due to supply problems, Naked Juice
suspended promotional activity last year, which added to market
share losses. We believe the company should regain some share in
2023 since fill rates have improved and promotions have been
reinstated."
Profit recovery should commence in the second half of 2023.
S&P said, "It will take time to win back the business that was lost
to competitors. We believe Naked Juice needs to further restore
confidence with retailers that its operational problems have been
resolved. Retailers could defer restoring business to
pre-disruption levels given still fragile supply chains. Moreover,
there is still some operational risk given ongoing efforts to
complete the separation from PepsiCo Inc.--including implementation
of a new enterprise resource planning platform that is still
multiple quarters away. We anticipate that some discounting to
rivals will likely be necessary in 2023. Regardless, we believe
management has stabilized profits--albeit at low levels--and assume
10%-15% adjusted EBITDA rebound over each of the next two years and
1x leverage reduction annually. Most of the 2023 improvement will
be in the second half."
Naked Juice expects to fully offset the negative effects of
Hurricane Ian (which includes higher fruit prices, lower
manufacturing efficiencies, and reduced byproduct sales such as
seed and peels) in 2023 with pricing and efficiency actions.
Moreover, management indicates the hurricane mainly resulted in
premature fruit loss as opposed to more damaging tree loss.
S&P forecasts the company's liquidity will remain adequate despite
the need to borrow under the revolver.
S&P said, "We project $120 million FOCF use in 2023, which will
require revolver borrowings. The projected cash flow deficit is due
primarily to still depressed profitability; one-time costs for
information technology (IT) implementation, a portion to be
expensed with the balance capitalized via capital expenditure
(capex); consulting and restructuring; and higher cash interest
payments (though hedges on about 75% of the company's debt will
substantially limit the impact of base rate increases should market
rates rise). While we do not expect the financial covenant to
spring, we forecast (absent significant underperformance) Naked
Juice would remain in compliance given considerable flexibility
around the definition of covenant EBITDA.
"We assume that the company will manage Florida orange taste gaps
over the next year.
"Naked Juice's Tropicana brand is the largest procurer and
processor of Florida oranges in the world. Over the past few
decades, the Florida orange crop has experienced "greening" which
has resulted in taste degradation versus certain non-Florida
oranges. We believe this means certain Florida orange crops have a
more bitter or acidic taste compared to certain non-Florida oranges
(for example, from Brazil). We believe other large, branded orange
juice rivals also source a significant portion of their orange
needs from Florida. However, certain smaller rivals--for example,
regional and private-label players--have more flexibility to source
from outside Florida given their smaller market share and hence
overall lower needs. Naked Juice indicates this is a manageable
problem for Florida-focused orange juice processors given the
ability to blend oranges of varying quality from different regions
(including Brazil, from which the company has historically sourced
on average 20%-30% of its needs). The company's management team
states that it has flexibility to adjust procurement from Brazil
upward or downward as needed.
"The prevalence of Florida oranges in the U.S. market might make
sudden and dramatic sourcing and market share shifts unlikely over
the short term. Nevertheless, an inability to manage this risk over
time could damage Naked Juice's competitive position against
rivals, especially regional and private-label competitors. Price
gaps against these rivals could shrink. Moreover, its possible
demand for orange juice in the US could decline if consumers shift
out of the category due to taste degradation.
"The stable outlook reflects our belief that Naked Juice has
stabilized operations and will slowly regain some lost business
over the next year. However, credit metrics will remain weak,
including adjusted leverage of about 9x at fiscal year-end 2023
compared to approximately 10x projected for fiscal year-end 2022."
S&P could raise its rating if Naked Juice meaningfully strengthens
credit ratios, including adjusted leverage approaching 7x, while
improving forecast FOCF to about $50 million. This could occur if
the company:
-- Wins back lost distribution by demonstrating to its retail
customers the ability to sustain in-stock rates comparable to
rivals while profitably managing promotional activity; and
-- Stands up its operations, including implementing its IT
platform without material disruption.
S&P could lower its rating if the capital structure becomes
unsustainable or we forecast that liquidity will weaken,
potentially due to an inability to improve FOCF. This requires
higher than projected revolver borrowing and a potential financial
covenant violation. S&P could also lower the rating if it projects
that EBITDA interest coverage will be sustained below 1.5x. This
could occur if the company cannot profitably:
-- Win back customers because of ongoing operational
inefficiencies or excessive promotions;
-- Stand up its operations, particularly its IT implementation,
resulting in more operational problems; or
-- Manage price gaps against rivals--including more nimble players
including private label and regional competitors--particularly if
input costs remain volatile or Naked Juice becomes less competitive
due to sourcing inefficiencies.
ESG credit indicator: E-2, S-2, G-2
S&P said, "Social factors are a neutral consideration because of
the perceived immunity-support benefits that many consumers obtain
from consuming certain juice products, although they contain sugar.
With the exception of certain juice drinks, Naked Juice's products
do not contain added sugar. Governance factors are neutral despite
the majority financial sponsor ownership because of PepsiCo's
sizable minority stake and a board that consists of more than
one-third non-sponsor directors."
NASHEF LLC: Voluntary Chapter 11 Case Summary
---------------------------------------------
Debtor: Nashef LLC
449 Mechanic Street
Fitchburg, MA 01420
Chapter 11 Petition Date: January 9, 2023
Court: United States Bankruptcy Court
District of Massachusetts
Case No.: 23-40015
Debtor's Counsel: James P. Ehrhard, Esq.
EHRHARD & ASSOCIATES, P.C.
250 Commercial Street
Suite 410
Worcester, MA 01608
Tel: 508-791-8411
Email: ehrhard@ehrhardlaw.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Eyad Nashef 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/JPMOYVA/Nashef_LLC__mabke-23-40015__0001.0.pdf?mcid=tGE4TAMA
NATIONAL MENTOR: Fidelity Fund Marks $13.5M Loan at 29% Off
-----------------------------------------------------------
Fidelity Advisor Value Fund, a fund of Fidelity Advisor Series I,
has marked its $13,502,000 loan extended to National Mentor
Holdings Inc to market at $9,574,000, or 71% of the outstanding
amount, as of October 31, 2022, according to a disclosure contained
in its Form N-CSR for the fiscal year ended October 31, 2022, filed
with the Securities and Exchange Commission on December 21.
Fidelity Advisor Value Fund extended a Tranche B first lien term
loan that carries a 7.4658% interest (1 month U.S. LIBOR + 3.750%)
to National Mentor Holdings Inc. The loan is scheduled to mature on
March 2, 2028.
Fidelity Advisor Value Fund is a fund of Fidelity Advisor Series I,
a Trust that is registered under the Investment Company Act of
1940, as amended, as an open-end management investment company
organized as a Massachusetts business trust. Fidelity Management &
Research Company LLC (FMR) serves as investment manager.
National Mentor Holdings, Inc. operates as a holding company. The
Company, through its subsidiaries, provides community-based
services for people with injuries and disabilities.
NATIONAL MENTOR: Fidelity Fund Marks $225,000 Loan at 29% Off
-------------------------------------------------------------
Fidelity Advisor Value Fund, a fund of Fidelity Advisor Series I,
has marked its $225,000 loan extended to National Mentor Holdings,
Inc to market at $159,000, or 71% of the outstanding amount, as of
October 31, 2022, according to a disclosure contained in its Form
N-CSR for the fiscal year ended October 31, 2022, filed with the
Securities and Exchange Commission on December 21.
Fidelity Advisor Value Fund extended a Tranche C first lien term
loan that carries 7.43% interest (1 month U.S. LIBOR + 3.750%) to
National Mentor Holdings, Inc. The loan is scheduled to mature on
March 2, 2028.
Fidelity Advisor Value Fund is a fund of Fidelity Advisor Series I,
a Trust that is registered under the Investment Company Act of
1940, as amended, as an open-end management investment company
organized as a Massachusetts business trust. Fidelity Management &
Research Company LLC (FMR) serves as investment manager.
National Mentor Holdings, Inc. operates as a holding company. The
Company, through its subsidiaries, provides community-based
services for people with injuries and disabilities.
NESV ICE: Court OKs Interim Cash Collateral Access
--------------------------------------------------
The U.S. Bankruptcy Court for the District of Massachusetts,
Eastern Division, authorized NESV Ice, LLC to use cash collateral
on an interim basis in accordance with the budget, with a 10%
variance.
Ice requires the use of the cash collateral in order to preserve
its operations and the value of its assets.
SHS ACK, LLC asserts a security interest in Ice's property,
including the cash proceeds thereof, and Ice's deposit accounts.
The Court held that, as adequate protection, SHS is granted
replacement liens in and to all property of the kind presently
securing the prepetition obligations of Ice to SHS. The Replacement
Liens will only attach to and be enforceable against the same types
of property, to the same extent, and in the same order of priority
as existed immediately prior to the Petition Date.
Ice is directed to pay the City of Attleboro real estate taxes and
other municipal charges as they become due postpetition, as well as
interest on prepetition amounts. In addition, Ice will maintain its
insurance policies and remain current postpetition on any premiums
that must be paid.
Ice's authority to use cash collateral will terminate upon the
occurrence of any of these events, unless waived by SHS in
writing:
a. Default by Ice in reporting the information, if such
default will remain uncured for three business days following
written notice from SHS to Ice;
b. Reversal, vacatur, or modification of the Eighth Interim
Order; or
c. Dismissal of the case or conversion of Ice's case to
chapter 7.
A continued hearing on the matter is set for March 22 at 1 p.m.
A copy of the Court order and the Debtors' budget is available at
https://bit.ly/3X1ZByn from PacerMonitor.com.
The budget provided for total cash disbursements, on a weekly
basis, as follows:
$100,841 for the week ending January 6, 2022;
$58,172 for the week ending January 13, 2022;
$82,328 for the week ending January 20, 2022; and
$55,486 for the week ending January 27, 2022.
About NESV Ice, LLC
NESV Ice, LLC and affiliates NESV Swim, LLC, NESV Field, LLC, NESV
Hotel, LLC, NESV Tennis, LLC, NESV Land, LLC, and NESV Land East,
LLC, offer fitness and sports training services. The Debtor sought
protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.
Mass. Case No. 21-11226) on August 26, 2021. The petitions were
signed by Stuart Silberberg as manager.
Judge Christopher J. Panos oversees the case.
William McMahon, Esq., at Downes McMahon LLP is the Debtor's
counsel.
NINETY-FIVE MADISON: Taps Two Bins Capital as Financing Broker
--------------------------------------------------------------
Ninety-Five Madison Company, L.P. received approval from the U.S.
Bankruptcy Court for the Southern District of New York to employ
Two Bins Capital, LLC as its financing broker.
The Debtor requires a financing broker to:
a. arrange an exit financing with the debtor-in-possession
lender;
b. assist in due diligence structuring, related financing
analyses, and document negotiation related to the DIP facility;
and
c. provide ongoing relationship support for any subsequent
financing transactions that may be related to the DIP facility.
Two Bins Capital will get a one-time brokerage commission of
$149,500, which is equal to 0.65 percent of the DIP facility.
As disclosed in court filings, Two Bins Capital is a "disinterested
person" within the meaning of Section 101(14) of the Bankruptcy
Code.
The firm can be reached through:
Emanuel Westfried
Two Bins Capital LLC
485 Madison Avenue
New York, NY 10022
About Ninety-Five Madison Company
Ninety-Five Madison Company, L.P. filed its voluntary petition for
Chapter 11 protection (Bankr. S.D.N.Y. Case No. 21-10529) on May
22, 2021, listing up to $100 million in assets and up to $10
million in liabilities. Judge Sean H. Lane oversees the case.
The Debtor tapped Glenn Agre Bergman & Fuentes, LLP as bankruptcy
counsel. Rosenberg & Estis, P.C. and Quinn McCabe, LLP serve as the
Debtor's special counsel.
The Debtor filed its proposed Chapter 11 plan of reorganization on
Sept. 12, 2021, which provides for payment in full of its
creditors.
NUTRIBAND INC: Commences Trading on Upstream Under NTRB
-------------------------------------------------------
Nutriband Inc. became available on Jan. 5 at 10:00 am EST under the
ticker symbol NTRB on Upstream, the revolutionary trading app for
digital securities and NFTs powered by Horizon Fintex and MERJ
Exchange Limited. Nutriband's digital collectible NFT
commemorating the dual listing is also available for all Upstream
participants to claim with the claim code "NTRB!".
Global investors can now trade by downloading Upstream from their
preferred app store at https://upstream.exchange/, creating an
account by tapping sign up, completing a simple KYC identity
verification by tapping the settings icon on the home screen and
tapping KYC, then funding their account with credit, debit, PayPal,
USDC stablecoin or a bank payment.
Details on the Nutriband listing, how shareholders can deposit
shares and trade on Upstream, and how to claim the commemorative
NFT can be found at: https://upstream.exchange/nutriband. The
Upstream market is open 5 days a week 20 hours a day, Monday to
Friday: 10:00am to 06:00am UTC+4 (1:00am to 9:00pm EST).
Traders on Upstream's blockchain-powered platform will experience
real-time trading and settlement and a transparent orderbook which
does not permit common market manipulations. Note, U.S. investors
are not permitted to purchase Upstream listed securities. U.S. and
Canadian citizens will only be able to trade in securities they
currently own, that have been listed on Upstream, for liquidation
purposes only.
"We are thrilled to be amongst the first companies to dual list on
Upstream's next generation marketplace," says Gareth Sheridan, CEO
of Nutriband. "We are adding new value to our shareholders while
expanding our company and mission to a modern, global
investor-base."
Issuers interested in the opportunity to access a global,
digital-first investor base and enhance price discovery can apply
to get listed at: https://upstream.exchange/GetListed or reach the
team at hello@upstream.exchange.
About Nutriband
Nutriband Inc. -- www.nutriband.com -- is primarily engaged in the
development of a portfolio of transdermal pharmaceutical products.
Its lead product under development is an abuse deterrent fentanyl
patch incorporating its AVERSA abuse deterrence technology. AVERSA
technology can be incorporated into any transdermal patch to
prevent the abuse, misuse, diversion, and accidental exposure of
drugs with abuse potential.
Nutriband reported a net loss of $6.18 million for the year ended
Jan. 31, 2022, a net loss of $2.93 million for the year ended Jan.
31, 2021, a net loss of $2.72 million for the year ended Jan. 31,
2020, and a net loss of $3.33 million for the year ended Jan. 31,
2019. As of October 31, 2022, the Company had $10.67 million in
total assets, $937,633 in total liabilities, and $9.73 million in
total stockholders' equity.
PACKABLE HOLDINGS: Seeks to Expand Scope of Baker Tilly's Services
------------------------------------------------------------------
Packable Holdings, LLC and its affiliates filed a supplemental
application seeking approval from the U.S. Bankruptcy Court for the
District of Delaware to expand the scope of services of its
accountant, Baker Tilly US, LLP.
The Debtors require additional services from the firm, which
include the preparation of its 2022 tax returns.
The firm will charge these hourly fees:
Managing Directors, Principals,
and Partners $765 - $800
Senior Managers and Directors $425 - $750
Managers $360 - $500
Senior Associates $220 - $280
Associates $165 - $200
Paraprofessionals $145 - $250
In addition, Baker Tilly will seek reimbursement for its
out-of-pocket expenses.
Jere Shawver, a certified public accountant at Baker Tilly,
disclosed in a court filing that the firm is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code.
The firm can be reached through:
Jere G. Shawver, CPA
Baker Tilly US, LLP
6320 Canoga Ave., 17th Fl.
Woodland Hills, CA 91367
Telephone: (818) 995-0090
Facsimile: (818) 995-1771
Email: jere.shawver@bakertilly.com
About Packable Holdings
Packable Holdings, LLC -- https://www.packable.com/ -- is a
multi-marketplace e-commerce enablement platform.
Packable Holdings and five affiliates sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No.
22-10797) on Aug. 29, 2022. In the petition filed by Maria Harris,
chief legal officer, Packable Holdings reported between $100
million and $500 million in both assets and liabilities.
Judge Craig T. Goldblatt oversees the cases.
The Debtors tapped Cooley LLP and Potter Anderson & Corroon, LLP as
legal counsels; Alvarez and Marsal North America, LLC as financial
advisor; and Hilco Merchant Resources, LLC as liquidation agent.
Epiq Corporate Restructuring, LLC is the claims agent.
On Sept. 13, 2022, the U.S. Trustee for Region 3 appointed the
official committee of unsecured creditors in the Debtors' cases.
The committee selected Kelley Drye & Warren, LLP and A.M. Saccullo
Legal, LLC as bankruptcy counsels; ASK, LLP as special litigation
counsel; and Dundon Advisers, LLC as financial advisor.
PARAMOUNT REAL ESTATE: SARE Files Bare-Bones Petition
-----------------------------------------------------
Wylie, Texas-based Paramount Real Estate Holdings LLC filed for
chapter 11 protection in the Middle District of Florida without
stating a reason.
The Debtor appears to own Villa Asuncion Independent And Assisted
Living Center, a senior living community located in Princeton, TX.
According to court filings, Paramount Real Estate estimates between
$10 million and $50 million in debt owed to 1 to 49 creditors. The
petition states that funds will be available to unsecured
creditors.
A meeting of creditors under 11 U.S.C. Section 341(a) is slated for
Feb. 3, 2023, at 10:30 AM at Telephonic Dial-In Information at
https://www.txeb.uscourts.gov/341info.
Proofs of claim are due by May 2, 2023.
About Paramount Real Estate Holdings
Paramount Real Estate Holdings LLC is a Single Asset Real Estate as
defined in 11 U.S.C. Sec. 101(51B).
Paramount Real Estate Holdings LLC filed a petition for relief
under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Tex. Case No.
23-40020) on Jan. 2, 2023. In the petition filed by Ryan Cole, as
CEO, the Debtor reported assets and liabilities between $10 million
and $50 million.
The Debtor is represented by:
Robert C. Rowe, Esq.
Carrington Coleman Sloman & Blumenthal, LLP
801 S. Highway 78
Suite 307
Wylie, TX 75098
PARAMOUNT RESTYLING: Case Summary & 20 Top Unsecured Creditors
--------------------------------------------------------------
Debtor: Paramount Restyling Automotive Inc.
d/b/a Paramount Automotive
9155 Archibald Ave.
Ste 105
Rancho Cucamonga, CA 91730
Business Description: The Debtor is a manufacturer of automotive
parts, accessories, and tires.
Chapter 11 Petition Date: January 9, 2023
Court: United States Bankruptcy Court
Central District of California
Case No.: 23-10069
Debtor's Counsel: David L. Neale, Esq.
LEVENE, NEALE, BENDER, YOO & GOLUBCHIK L.L.P.
2818 La Cienega Avenue
Los Angeles, CA 90034
Tel: (310) 229-1234
Email: dln@lnbyg.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Samson Yang, vice president and
authorized signatory.
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/AVL3TGI/Paramount_Restyling_Automotive__cacbke-23-10069__0001.0.pdf?mcid=tGE4TAMA
PHILLIPS SEABROOK: Medical Office Buildings Owner in Chapter 11
---------------------------------------------------------------
Phillips, Seabrook & Wilson LLC filed for chapter 11 protection in
the Northern District of Georgia. The Debtor elected on its
voluntary petition to proceed under Subchapter V of chapter 11 of
the Bankruptcy Code.
The Debtor owns and manages three buildings leased to multiple
tenants for use as
medical office space.
The Debtor disclosed $3,568,241 in total assets against $3,073,281
in total liabilities as of Nov. 30, 2022.
According to court filings, the Debtor's petition says the Debtor
has 1 to 49 creditors, and that funds will be available to
unsecured creditors.
A meeting of creditors under 11 U.S.C. Section 341(a) is slated for
Jan. 27, 2023, at 11:00 a.m.
Non-government proofs of claim are due by March 10, 2023.
About Phillips, Seabrook & Wilson
Phillips, Seabrook & Wilson LLC is a limited liability company in
Georgia.
Phillips, Seabrook & Wilson LLC filed a petition for relief under
Subchapter V of Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ga.
Case No. 22-60626) on December 30, 2022. In the petition filed by
Lynette Wilson-Phillips, as manager and member, the Debtor reported
assets and liabilities between $1 million and $10 million.
The Debtor is represented by:
Howard D. Rothbloom, Esq.
The Rothbloom Law Firm
5268 Sandy Shores Court
Lithonia, GA 30038
PLATINUM MOVING: Seeks to Hire The Valle Law Firm as Counsel
------------------------------------------------------------
Platinum Moving Services, Inc. seeks approval from the U.S.
Bankruptcy Court for the District of Maryland to hire The Valle Law
Firm, LLC as its counsel.
The firm's services include:
a. preparing schedules and all other required documents to
constitute a complete filing;
b. filing all necessary motions to proceed to a successful
reorganization;
c. filing any required amendments to the schedules, objections
and responses to objections, and representation at all interviews,
meetings, and hearings; and
d. filing all required post-petition documentation such as
monthly operating reports, contact creditors should they make
collection attempts after the bankruptcy is filed or to cease to
terminate or suspend garnishments.
The Debtor proposes to employ the counsel at the hourly rate of
$300, plus reimbursement of expenses.
The firm charged a retainer of $6,500.
As disclosed in court filings, The Valle Law Firm is a
"disinterested person" within the meaning of Section 101(14) of the
Bankruptcy Code.
The firm can be reached through:
Diana C. Valle, Esq.
The Valle Law Firm, LLC
3 Bethesda Metro Center, Suite 700
Bethesda, MD 20814
Phone: 240-744-7410
Email: diana.valle@vallelawfirm.com
About Platinum Moving Services
Platinum Moving Services, Inc. filed its voluntary petition for
relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Md. Case
No. 22-17189) on Dec. 27, 2022. At the time of the filing, the
Debtor estimated $100,001 to $500,000 in assets and $500,001 to $1
million in liabilities.
Diana Carolina Valle, Esq., at The Valle Law Firm, LLC represents
the Debtor as counsel.
PROMEDICA HEALTHCARE: S&P Affirms 'BB' Bond Rating, Off Watch Neg.
------------------------------------------------------------------
S&P Global Ratings affirmed its 'BB' rating on ProMedica
Healthcare, Ohio's debt outstanding and removed the rating from
CreditWatch, where it was placed with negative implications on Aug.
9, 2022. The outlook is negative.
"The negative outlook reflects ProMedica's significantly weakened
unrestricted reserves and limited cushion under financial covenants
following the execution of a definitive agreement to divest its
skilled nursing business to new operators," said S&P Global Ratings
credit analyst Anne Cosgrove.
There is also some near-term transition risk as ProMedica looks to
fully divest of a small portion of remaining skilled nursing
facilities (SNFs) that it is still operating and also adjusts
infrastructure for a significantly smaller senior-care business.
This divestiture should significantly reduce the system's cash flow
losses and reduce its operating lease liability, although there are
ongoing challenges in the acute-care business related primarily to
labor costs.
The 'BB' rating further reflects S&P's view of ProMedica's:
-- High debt;
-- Very thin cash levels;
-- Significant operating losses for many years due to the pandemic
challenges and more recently elevated labor costs;
-- A narrower business profile with less diversity that is reliant
on a smaller service area with limited growth profile and adequate
demographics and economics; and
-- Transition risk and turnaround period as management is working
to fully divest of SNF operations and focus on acute-care business
with some management positions still yet to be filled.
These factors are somewhat offset by the system's:
-- Ongoing healthy business position as an integrated delivery
provider (including a much smaller health plan following
ProMedica's exit from the Medicaid market) in the broader Toledo
metropolitan statistical area (MSA) that covers northwest Ohio and
southeast Michigan;
-- Recent transaction that should stem significant cash flow
losses with the divestiture of the joint venture in 147 SNFs and
significant reduction in its operating lease liability associated
with the senior-living business; and
-- Limited capital needs in the acute-care business with
significant investment made in previous years.
S&P said, "We could lower the rating if ProMedica violates its
financial covenants or if there is a further decline in
unrestricted reserves from our current pro forma expectations. We
could also lower the rating if there is not a trend of operational
improvement in the near term or if the enterprise profile weakens.
"We could revise the outlook to stable or raise the rating if there
is significant and sustained operational improvement and an
increase in unrestricted reserves. There also could be positive
rating upside if management can be opportunistic in strategies that
help position the organization for future success. We could also
raise the rating if there is a decline in leverage and a
demonstrated track record of execution as management re-focuses on
core businesses."
R7 LEASE: Seeks Approval to Hire Mcdowell Law as Bankruptcy Counsel
-------------------------------------------------------------------
R7 Lease Purchase, Inc. seeks approval from the U.S. Bankruptcy
Court for the Eastern District of Pennsylvania to hire Mcdowell
Law, PC as its counsel.
The firm's services include:
a. providing the Debtor with legal advice with respect to its
powers and duties;
b. preparing legal papers;
c. representing the Debtor in any matter involving contests
with secured or unsecured creditors, including the claims
reconciliation process;
d. preparing, negotiating and implementing a plan of
reorganization; and
e. other necessary legal services except those requiring
specialized expertise.
The firm will be paid at these rates:
Ellen M. McDowell $425 per hour
Daniel Reinganum $300 per hour
As disclosed in court filings, McDowell Law does not represent any
interest adverse to the Debtor and its estate in matters upon which
it is to be engaged.
The firm can be reached through:
Ellen M. McDowell, Esq.
Mcdowell Law, PC
46 W Main St.
Maple Shade, NJ 08052
Phone: 856-482-5544
Email: emcdowell@mcdowelllegal.com
About R7 Lease Purchase
R7 Lease Purchase, Inc. sought protection for relief under Chapter
11 of the Bankruptcy Code (Bankr. E.D. Pa. Case No. 22-13287) on
Dec. 7, 2022, with $100,001 to $500,000 in assets and $500,001 to
$1 million in liabilities. Judge Ashely M. Chan oversees the case.
Ellen M. McDowell, Esq., at Mcdowell Law, PC represents the Debtor
as counsel.
RE-BUILD SEVILLE: Feb. 14 Hearing on Disclosure Statement
---------------------------------------------------------
Judge Jamie A. Wilson will convene a hearing to consider the
approval of the Disclosure Statement of Re-Build Seville, LLC, at
the U.S. Bankruptcy Court for the Southern District of Mississippi,
Bankruptcy Courtroom 4C, 501 East Court Street, Jackson,
Mississippi, on February 14, 2023 at 1:30 p.m.
Jan. 31, 2023, is fixed as the last day for filing and serving
written objections to the Disclosure Statement.
About Re-Build Seville
Re-Build Seville, LLC, a company in Jackson, Miss., sought
protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr.
S.D. Miss. Case No. 22-01976) on Sept. 28, 2022. In the petition
filed by its manager, J. Stephen Tracy, the Debtor reported between
$1 million and $10 million in both assets and liabilities.
Judge Jamie A. Wilson oversees the case.
The Debtor is represented by the law firms of McRaney & McRaney and
Dal Lago Law.
REAL TRAVEL: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Real Travel, LLC
1525 E. Cherry St.
Springfield, MO 65802
Chapter 11 Petition Date: January 9, 2023
Court: United States Bankruptcy Court
Western District of Missouri
Case No.: 23-60007
Debtor's Counsel: David E. Schroeder, Esq.
DAVID SCHROEDER LAW OFFICES, P.C.
1524 East Primrose St
Suite A
Springfield, MO 65804
Tel: (417) 890-1000
Email: bk1@dschroederlaw.com
Estimated Assets: $0 to $50,000
Estimated Liabilities: $1 million to $10 million
The petition was signed by Brian Scroggs, sole member & managing
member.
A full-text copy of the petition containing, among other items, a
list of the Debtor's 20 largest unsecured creditors is available
for free at PacerMonitor.com at:
https://www.pacermonitor.com/view/POEJR5A/Real_Travel_LLC__mowbke-23-60007__0001.0.pdf?mcid=tGE4TAMA
RICH'S DELICATESSEN: Court OKs Cash Collateral Access Thru Feb 8
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois,
Eastern Division, authorized Rich's Delicatessen and Liquors, Inc.
to use cash collateral on an interim basis under the same terms and
conditions as set forth in the previous order.
The Debtor is permitted to use the funds in its checking accounts
as well as the payroll account to pay actual, ordinary course of
business, subject to the budget.
The terms of the order will expire on February 8, 2023 at 5 p.m. A
continued hearing on the matter is set for February 7 at 1:30 p.m.
A copy of the order is available at https://bit.ly/3Zp4CT6 from
PacerMonitor.com.
About Rich's Delicatessen and Liquors, Inc.
Rich's Delicatessen and Liquors, Inc. sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No.
22-13693) on November 28, 2022. In the petition signed by Izabela
Machnicki, secretary-vice president, the Debtor disclosed up to
$500,000 in assets and up to $1 million in liabilities.
Judge Jacqueline Cox oversees the case.
David Herzog, Esq., at David Herzo Law, is the Debtor's legal
counsel.
RICH'S FOOD: Seeks to Hire Law Office of David R. Herzog as Counsel
-------------------------------------------------------------------
Rich's Food & Liquors, Inc. and Rich's Delicatessen & Liquors, Inc.
seek approval from the U.S. Bankruptcy Court for the Northern
District of Illinois to hire the Law Office of David R. Herzog, LLC
as their legal counsel.
The firm's services include:
(a) advising the Debtor regarding its duties, powers and
responsibilities;
(b) assisting the Debtor in the negotiation, formulation and
drafting of a plan of reorganization;
(c) appearing for, prosecuting, defending and representing the
Debtor's interests in matters arising in or related to its Chapter
11 case;
(d) preparing legal papers; and
(e) other neceesary legal services.
The firm requested an initial retainer of $7,500 for its legal
services and a cost retainer of $2,000 for the filing fee.
The hourly rates charged by the firm's attorneys and legal
assistants are as follows:
David R. Herzog, Esq. $450 per hour
Legal Assistant $100 per hour
David Herzog, Esq., disclosed in a court filing that his firm is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.
The firm can be reached through:
David R. Herzog, Esq.
Law Office of David R. Herzog, LLC
53 West Jackson St., Suite 1442
Chicago, IL 60604
Telephone: (312) 977-1600
Email: drh@dherzoglaw.com
About Rich's Deli
Rich's Food & Liquors, Inc., and Rich's Delicatessen & Liquors,
Inc. are family-owned and operated specialty European grocery
stores. Both stores feature mostly European and Polish products.
Rich's Food store is located at 4747 N Harlem Ave., Harwood
Heights, Ill., while Rich's Deli store is located at 857 N Western
Ave., Chicago, Ill.
Rich's Food & Liquors, Inc., and Rich's Delicatessen & Liquors Inc.
each filed a petition for relief under Subchapter V of Chapter 11
of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 22-13563 and
22-13693) on Nov. 28, 2022. In the petitions filed by their
manager, Mark Allen, Rich's Food disclosed $1 million to $10
million in both assets and liabilities while Rich's Deli reported
$100,000 to $500,000 in assets and $500,000 to $1 million in
liabilities.
Judge Jacqueline P. Cox oversees the cases.
The Debtors are represented by David R. Herzog, Esq., at the Law
Office of David R. Herzog, LLC.
RUNNER BUYER: Fidelity Fund Marks $12.7M Loan at 34% Off
--------------------------------------------------------
Fidelity Advisor Value Fund, a fund of Fidelity Advisor Series I,
has marked its $12,797,000 loan extended to Runner Buyer Inc to
market at $8,468,000, or 66% of the outstanding amount, as of
October 31, 2022, according to a disclosure contained in its Form
N-CSR for the fiscal year ended October 31, 2022, filed with the
Securities and Exchange Commission on December 21.
Fidelity Advisor Value Fund extended a Tranche B first lien term
loan that carries 6.9241% interest (1 month U.S. LIBOR + 3.250%) to
Runner Buyer Inc. The loan is scheduled to mature on October 20,
2028.
Fidelity Advisor Value Fund is a fund of Fidelity Advisor Series I,
a Trust that is registered under the Investment Company Act of
1940, as amended, as an open-end management investment company
organized as a Massachusetts business trust. Fidelity Management &
Research Company LLC (FMR) serves as investment manager.
Headquartered in New York, Runner Buyer Inc., dba RugsUSA, is an
e-commerce provider of rugs and home decor products through its
website rugsausa.com and e-commerce marketplaces.
SEMILEDS CORP: Incurs $509K Net Loss in First Quarter
-----------------------------------------------------
SemiLEDs Corporation has filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $509,000 on $1.69 million of net revenues for the three months
ended Nov. 30, 2022, compared to a net loss of $525,000 on $1.46
million of net revenues for the three months ended Nov. 30, 2021.
As of Nov. 30, 2022, the Company had $15.57 million in total
assets, $12.51 million in total liabilities, and $3.06 million in
total equity.
SemiLeds said, "The Company suffered losses from operations of $3.2
million and $3.9 million and used net cash in operating activities
of $1.5 million and $1.7 million for the years ended August 31,
2022 and 2021, respectively. These facts and conditions raise
substantial doubt about the Company's ability to continue as a
going concern, even though gross profit on product sales was $1.4
million for the year ended August 31, 2022 compared to $1.0 million
for the year ended August 31, 2021. On November 30, 2022, the
Company's cash and cash equivalents had increased to $4.5 million
compared to $4.1 million on November 30, 2021 mainly due to the
collection of accounts receivable, advances from customers and the
issuance of common stock. Further, loss from operations for the
three months ended November 30, 2022 and 2021 was $654 thousand and
$978 thousand, respectively. However, management believes that it
has developed a liquidity plan...that, if executed successfully,
should provide sufficient liquidity to meet the Company's
obligations as they become due for a reasonable period of time, and
allow the development of its core business.
* Gaining positive cash-inflow from operating activities through
continuous cost reductions and the sales of new higher margin
products. Steady growth of module products and the continued
commercial sales of its UV LED product are expected to improve the
Company's future gross margin, operating results and cash flows.
The Company is targeting niche markets and focused on product
enhancement and developing its LED product into many other
applications or devices.
* Continuing to monitor prices, work with current and potential
vendors to decrease costs and, consistent with its existing
contractual commitments, may decrease its activity level and
capital expenditures further. This plan reflects its strategy of
controlling capital costs and maintaining financial flexibility.
* Raising additional cash through further equity offerings,
including sales through an at-the-market, or ATM, program, sales of
assets and/or issuance of debt as considered necessary and looking
at other potential business opportunities.
"While the Company's management believes that the measures
described in the above liquidity plan will be adequate to satisfy
its liquidity requirements for the twelve months after the date
that the financial statements are issued, there is no assurance
that the liquidity plan will be successfully implemented. Failure
to successfully implement the liquidity plan may have a material
adverse effect on its business, results of operations and financial
position, and may adversely affect its 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/1333822/000095017023000281/leds-20221130.htm
About SemiLEDs
Headquartered in Miao-Li County, Taiwan, R.O.C., SemiLEDs --
http://www.semileds.com-- develops and manufactures LED chips and
LED components for general lighting applications, including street
lights and commercial, industrial, system and residential lighting,
along with specialty industrial applications such as ultraviolet
(UV) curing, medical/cosmetic, counterfeit detection, horticulture,
architectural lighting and entertainment lighting.
SemiLEDs reported a net loss of $2.73 million for the year ended
Aug. 31, 2022, compared to a net loss of $2.86 million for the year
ended Aug. 31, 2021. As of Aug. 31, 2022, the Company had $16.05
million in total assets, $12.56 million in total liabilities, and
$3.50 million in total equity.
Diamond Bar, California-based KCCW Accountancy Corp., the Company's
auditor since 2019, issued a "going concern" qualification in its
report dated Nov. 7, 2022, citing that the Company incurred
recurring losses from operations and has an accumulated deficit,
which raises substantial doubt about its ability to continue as a
going concern.
SHEM OLAM: Seeks to Hire Sarajian & Baum as Special Tax Counsel
---------------------------------------------------------------
Shem Olam, LLC seeks approval from the U.S. Bankruptcy Court for
the Southern District of New York to employ Sarajian & Baum, PLLC
as its special tax counsel.
The firm will represent the Debtor in litigation against the Town
of Ramapo regarding its tax-exempt status.
The firm will be paid at these rates:
Richard Sarajian $400 per hour
Other Attorneys $375 per hour
Paraprofessionals $100 per hour
As disclosed in court filings, Sarajian & Baum neither holds nor
represents any interest adverse to the Debtor with respect to the
matters upon which it is to be engaged.
The firm can be reached through:
Richard Haig Sarajian
Sarajian & Baum, PLLC
67 N Main St Fl 3
New City, NY 10956-3700
Phone: (845) 205-4553
Email: rsarajian@aol.com
About Shem Olam
Shem Olam, LLC is the owner of the real property located at 82
Highview Road, Suffern, N.Y. Rabbi Aryeh Zaks is the present
manager of the company.
Shem Olam sought protection under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. S.D.N.Y. Case No. 22-22493). In the petition filed by
its manager, Rabbi Aryeh Zaks, the Debtor listed $1 million to $10
million in both assets and liabilities.
Judge Sean H. Lane oversees the case.
Arnold Mitchell Greene, Esq., at Leech Tishman Robinson Brog, PLLC
is the Debtor's counsel.
SILVERGATE CAPITAL: Moody's Cuts Issuer Rating to B1, Outlook Neg.
------------------------------------------------------------------
Moody's Investors Service has downgraded the ratings of Silvergate
Capital Corporation (Silvergate Capital) and its bank subsidiary
Silvergate Bank, following the downgrade of the bank's standalone
Baseline Credit Assessment (BCA) to ba3 from ba1. Silvergate
Capital's long-term issuer rating was downgraded to B1 from Ba2.
The bank's long-term deposit rating was downgraded to Ba1 from Baa2
and its long-term issuer rating to B1 from Ba2. Moody's also
downgraded the bank's short-term deposit rating to Not Prime from
Prime-2. The outlook is negative.
Downgrades:
Issuer: Silvergate Bank
Adjusted Baseline Credit Assessment, Downgraded to ba3 from ba1
Baseline Credit Assessment, Downgraded to ba3 from ba1
ST Counterparty Risk Assessment, Downgraded to NP(cr) from
P-3(cr)
LT Counterparty Risk Assessment, Downgraded to Ba2(cr) from
Baa3(cr)
LT Counterparty Risk Rating (Foreign Currency), Downgraded to Ba3
from Ba1
LT Counterparty Risk Rating (Local Currency), Downgraded to Ba3
from Ba1
LT Issuer Rating (Local Currency), Downgraded to B1 from Ba2, NEG
LT Bank Deposit (Local Currency), Downgraded to Ba1 from Baa2,
NEG
ST Bank Deposit (Local Currency), Downgraded to NP from P-2
Issuer: Silvergate Capital Corporation
LT Issuer Rating (Local Currency), Downgraded to B1 from Ba2, NEG
Pref. Shelf Non-cumulative (Local Currency), Downgraded to (P)Caa1
from (P)B1
Pref. Stock Non-cumulative (Local Currency), Downgraded to Caa1
from B1
Affirmations:
Issuer: Silvergate Bank
ST Counterparty Risk Rating (Foreign Currency), Affirmed NP
ST Counterparty Risk Rating (Local Currency), Affirmed NP
Outlook Actions:
Issuer: Silvergate Bank
Outlook, Remains Negative
Issuer: Silvergate Capital Corporation
Outlook, Remains Negative
RATINGS RATIONALE
The rating downgrade follows the bank's announcement of
significantly decreased fintech deposits, the crystallization of
large losses driven by the sale of securities to meet its liquidity
needs, impairment of technology assets associated with a scaling
back in its business plan, and the bank's intent to reduce its
workforce by 40%. These events highlight Silvergate Bank's
significant operating challenges, in particular the profitability,
funding, and liquidity risk associated with amplified deposit
volatility driven by uncertainty in the crypto currency market and
the bank's narrow business model.
In addition, Moody's believes that the risks to Silvergate's
business model and franchise value have increased following the
joint statement from US federal banking regulators released earlier
this week on crypto-asset risks to banking organizations [1].
Almost all of the bank's deposits continue to be from crypto
currency centric institutions, and while the bank currently has
adequate liquidity and capital, continued large outflows of these
deposits would further adversely impact the bank's financial
condition.
Although currently modest in size, the bank also has a secured
lending portfolio collateralized by bitcoin, known as the SEN
leverage business. The risks in this portfolio appear to be managed
through conservative haircuts and automated liquidations if
collateral triggers are breached.
The negative outlook reflects Moody's view that the bank's
profitability over the near term will be weak along with the risk
of further declines in deposits from crypto currency centric firms
further pressuring profitability. In addition, the negative outlook
reflects the increasing regulatory and legal risks that the firm is
currently facing.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS
The negative outlook indicates that a ratings upgrade is unlikely
over the next 12-18 months. The outlook could return to stable if
the bank's regulatory and legal risk declines; if volatility in the
crypto currency market subsides reducing the risk of further
declines in deposits from crypto currency centric firms; and if the
bank maintains its current liquidity and strong capitalization
levels.
The BCA could be downgraded if regulatory and legal risks continue
to increase or if the bank's leverage ratio declines further. In
addition, a deterioration in its liquidity profile, a reduction in
crypto currency related deposits, continued weak profitability,
departure of key management or an increased risk appetite, could
lead to a downgrade of the BCA. A lower BCA would likely lead to a
ratings downgrade.
The principal methodology used in these ratings was Banks
Methodology published in July 2021.
SP PF BUYER: Fidelity Fund Marks $15.8M Loan at 21% Off
-------------------------------------------------------
Fidelity Advisor Value Fund, a fund of Fidelity Advisor Series I,
has marked its $15,802,000 loan extended to SP PF Buyer LLC to
market at $12,444,000, or 79% of the outstanding amount, as of
October 31, 2022, according to a disclosure contained in its Form
N-CSR for the fiscal year ended October 31, 2022, filed with the
Securities and Exchange Commission on December 21.
Fidelity Advisor Value Fund extended a Tranche B first lien term
loan that carries an 8.2539% interest (3 month U.S. LIBOR + 4.500%)
to SP PF Buyer LLC. The loan is scheduled to mature on December 21,
2025.
Fidelity Advisor Value Fund is a fund of Fidelity Advisor Series I,
a Trust that is registered under the Investment Company Act of
1940, as amended, as an open-end management investment company
organized as a Massachusetts business trust. Fidelity Management &
Research Company LLC (FMR) serves as investment manager.
SP PF Buyer LLC does business as Pure Fishing, a Columbia, South
Carolina-based company that primarily designs, manufactures and
sells fishing equipment, including rods, reels, lures, artificial
bait, and related fishing tackle, across the globe. Since December
2018, the company is owned by private equity sponsor Sycamore
Partners.
SPIN HOLDCO: Moody's Cuts CFR & Senior Secured Debt Rating to Caa1
------------------------------------------------------------------
Moody's Investors Service downgraded Spin Holdco, Inc.'s corporate
family rating to Caa1 and Probability of Default Rating to Caa1-PD.
Moody's also downgraded Spin's senior secured debt ratings to
Caa1. The outlook is stable.
"The downgrade to Caa1 reflects Spin's stressed liquidity and
elevated leverage. Weaker than expected utilization levels in
community laundry and increasing labor and fuel costs have led to
margin deterioration through the first half of the fiscal year
ending March 2023," said Justin Remsen, Assistant Vice President at
Moody's.
"While Moody's forecast a modest uptick in margins, Moody's expect
the company to burn about $100 million in cash in fiscal year
ending March 2024. Rising interest costs with $2 billion of
unhedged floating rate debt and the company's capital intensive
business model are key drivers of the cash use. Moody's believe
significant cuts to capital spending are required to provide
additional liquidity. This comes amidst uncertainty with the
company's sponsor, turnover of multiple executives, and
expectations for a weaker macro-economic environment," added
Remsen.
Downgrades:
Issuer: Spin Holdco, Inc.
Corporate Family Rating, Downgraded to Caa1 from B3
Probability of Default Rating, Downgraded to Caa1-PD from B3-PD
Senior Secured Bank Credit Facility, Downgraded to Caa1 (LGD3)
from B3 (LGD3)
Outlook Actions:
Issuer: Spin Holdco, Inc.
Outlook, Remains Stable
RATINGS RATIONALE
Spin's Caa1 Corporate Family Rating reflects elevated leverage and
constrained liquidity. The company will experience significant
cash burn over the next several quarters driven by its exposure to
rising interest rates and capital expenditure requirements.
Leverage of 6.6x as of September 2022 (or 7.3x without Moody's
lease adjustments) is elevated given laundry machine utilization
rates below pre-covid levels and execution risk associated with a
meaningful reduction of capital spend.
Spin's ratings benefit from its solid market position as the
leading national provider of outsourced laundry equipment services
for multifamily housing properties, colleges, and in-home
customers. Spin is the largest operator among few national
players. The recession resistant qualities of its services provide
a predictable, recurring revenue stream and strong margin profile.
Moody's forecasts that Spin will have weak liquidity over the next
12 to 18 months. As of September 30, 2022, Spin had $90 million of
balance sheet cash of which $49 million was readily available. The
remaining $41 million balance represents less liquid cash in
machines, which Moody's believe would be costly and time consuming
to collect. The company has $48 million available on the $140
million revolver with $79 million drawn and $13 million in letters
of credit as of September 30, 2022. Moody's project negative $90
million free cash flow in fiscal year ending March 2023 and
negative $60 million in fiscal year 2024.
Spin is subject to a springing net first lien leverage ratio under
its revolver. The covenant is tested if utilization under the
revolver exceeds 30% of the facility amount. Net first lien
leverage was 5.8x with a maximum of 7.15x for the twelve months
ending September 30, 2022. The covenant steps down to 6.5x in
April 2024. Moody's expect Spin to remain in compliance with its
springing maximum net first lien leverage covenant, but with
limited cushion when the step down occurs.
The stable outlook reflects Moody's view that Spin's adjusted
leverage will remain under 7.5x despite Moody's expectation for
reduced capital spend over the next year.
ENVIRONMENTAL, SOCIAL AND GOVERNANCE CONSIDERATIONS
Spin's ESG credit impact score was changed to (CIS-5) representing
a very highly negative impact, driven by governance risks.
Governance risks arise from operating challenges and stressed
liquidity associated with aggressive financial policies.
The company is owned by private equity companies Pamplona Capital
and Ontario Teacher's Pension Plan. Pamplona Capital's parent,
Letterone, had two of its Russian minority investors sanctioned in
relation to Russia's invasion of Ukraine. While Spin's performance
has been largely unaffected by the sanctions, Moody's views the
events increase the uncertainty regarding Pamplona's strategy for
its investments.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS
Spin's ratings could be downgraded if the company's liquidity
deteriorates further. Operational disruptions including declines
in retention or utilization rates such that adjusted leverage is
elevated above 7.5x could also result in a downgrade.
The ratings could be upgraded if Spin effectively manages its
liquidity challenges. An expectation for positive cash flow and
reduced reliance on the revolver would represent meaningful
improvements in liquidity. An upgrade would also require
debt-to-EBITDA below 6.5x.
Headquartered in Melville, New York, Spin is a wholly owned
subsidiary of CSC ServiceWorks, Inc. Spin is the largest provider
of outsourced laundry equipment services for multi-family housing
properties in North America.
The principal methodology used in these ratings was Business and
Consumer Services published in November 2021.
SUNLIGHT RIVER: Unsecureds Owed $59.8K to Be Paid in 60 Months
--------------------------------------------------------------
Sunlight River Crossing, LLC submitted a Second Amended Plan of
Reorganization.
The Debtor owns and operates a piece of real property located at
700 N. Page Springs Road, Cornville, Arizona 86325, which spans
over 7 acres.
In accordance with the Projected Budget, Mr. Elder will contribute
a new value capital contribution of $200,000, as estate property
pursuant to s 1186, into the Debtor's bank account in a lump sum
payment on or before the Effective Date.
Payment of non-priority unsecured claims. Non-priority, unsecured
creditors holding allowed claims will receive distributions, which
the proponent of this Plan has valued at approximately 100%. All
claims in this class will be paid in full plus interest at the
Federal Judgment Interest Rate (4.25%), or other rate determined by
the Court, by the end of the Plan Period.
Under the Plan, Class 3 Non-Priority Unsecured Claims total
$59,850.32. After Administrative and Priority Creditors are paid in
full, the creditors with Allowed Unsecured Claims in Class 3 shall
be paid their pro-rata share of an aggregate minimum payment of
$5,000, in monthly installments. Any balance still owed to Class 3
Creditors 60 months after the Effective Date shall be paid in full
at that time. Class 3 is impaired.
The Reorganized Debtor will operate the rental and events business
at the Property and make the payments called for under the Plan.
All assets of the Debtor shall be re-vested in the Reorganized
Debtor upon confirmation of the Plan.
Attorneys for the Debtor:
MARTIN J. MCCUE, Esq.
PATRICK F. KEERY, Esq.
KEERY MCCUE, PLLC
6803 East Main Street, Suite 1116
Scottsdale, AZ 85251
Tel: (480) 478-0709
Fax: (480) 478-0787
E-mail: MJM@KEERYMCCUE.COM
PFK@KEERYMCCUE.COM
A copy of the Disclosure Statement dated Dec. 28, 2022, is
available at https://bit.ly/3GsJrIn from PacerMonitor.com.
About Sunlight River Crossing
Cornville, Ariz.-based Sunlight River Crossing, LLC filed a
petition under Chapter 11, Subchapter V of the Bankruptcy Code
(Bankr. D. Ariz. Case No. 21-04364) on June 4, 2021, with as much
as $10 million in both assets and liabilities. Joseph E. Cotterman
of Gallagher & Kennedy serves as Subchapter V trustee.
Judge Brenda K. Martin presides over the case.
Keery McCue PLLC, MAC Restructuring Advisors, LLC, and Jade
Accounting Inc. serve as the Debtor's legal counsel, financial
advisor, and accountant, respectively. 988, LLC, as lender, is
represented by Bryan Wayne Goodman of Goodman & Goodman, PLC.
SUREFUNDING LLC: Seeks to Hire Carlyon Cica as Special Counsel
--------------------------------------------------------------
SureFunding, LLC seeks approval from the U.S. Bankruptcy Court for
the District of Delaware to employ Carlyon Cica Chtd. as its
special litigation counsel.
The Debtor requires a special litigation counsel to represent it in
a civil action against ECP Holdings III, LLC and several other
defendants (Case No. A-20-825862-B).
The firm will be paid on an hourly basis and will be reimbursed for
work-related expenses. The hourly rates charged by the firm are as
follows:
Candace Carlyon, Partner $620 per hour
Dawn Cica. Partner $620 per hour
Candace Carlyon, Esq., a partner at Carlyon Cica, disclosed in a
court filing that her firm is "disinterested" as defined in Section
101(14) of the Bankruptcy Code.
The firm can be reached through:
Candace C. Carlyon, Esq.
Carlyon Cica Chtd.
4495 S. Pecos Road
Las Vegas, Nevada 89121
Phone: 702-685-4444
About SureFunding LLC
Las Vegas-based SureFunding, LLC was founded by Jason and Justin
Abernathy in 2014 as a private investment vehicle. It opened in
2015 to outside investors, many of which were family, friends and
business acquaintances. Its investments are in short-term,
high-yield assets.
SureFunding sought Chapter 11 protection (Bankr. D. Del. Case No.
20-10953) on April 14, 2020, with $10 million to $50 million in
both assets and liabilities. Judge Laurie Selber Silverstein
oversees the case.
The Debtor tapped Carl N. Kunz, III, Esq., and Jeffrey R. Waxman,
Esq., at Morris James, LLP as bankruptcy attorneys; Carlyon Cica
Chtd. as special litigation counsel; and Ted Gavin of
Gavin/Solmonese, LLC as chief restructuring and liquidation
officer.
Bayard, P.A. represents the ad hoc committee of SureFunding
noteholders.
TGP HOLDINGS: Fidelity Fund Marks $1.2M Loan at 20% Off
-------------------------------------------------------
Fidelity Advisor Value Fund, a fund of Fidelity Advisor Series I,
has marked its $1,220,000 loan extended to TGP Holdings III LLC to
market at $979,000, or 80% of the outstanding amount, as of October
31, 2022, according to a disclosure contained in its Form N-CSR for
the fiscal year ended October 31, 2022, filed with the Securities
and Exchange Commission on December 21.
Fidelity Advisor Value Fund extended a Tranche DD first lien term
loan that carries 4.1885% interest (1 month U.S. LIBOR + 3.250%) to
TGP Holdings III LLC. The loan is scheduled to mature on June 29,
2028.
Fidelity Advisor Value Fund is a fund of Fidelity Advisor Series I,
a Trust that is registered under the Investment Company Act of
1940, as amended, as an open-end management investment company
organized as a Massachusetts business trust. Fidelity Management &
Research Company LLC (FMR) serves as investment manager.
Headquartered in Salt Lake City, Utah, TGP Holdings III LLC
(Traeger) is a designer and distributor of wood pellet grills,
grill accessories and related consumables.
TGP HOLDINGS: Fidelity Fund Marks $9.2M Loan at 20% Off
-------------------------------------------------------
Fidelity Advisor Value Fund, a fund of Fidelity Advisor Series I,
has marked its $9,252,000 loan extended to TGP Holdings III LLC to
market at $7,423,000, or 80% of the outstanding amount, as of
October 31, 2022, according to a disclosure contained in its Form
N-CSR for the fiscal year ended October 31, 2022, filed with the
Securities and Exchange Commission on December 21.
Fidelity Advisor Value Fund extended a Tranche B first lien term
loan that carries 7.0039% interest (1 month U.S. LIBOR + 3.250%) to
TGP Holdings III LLC. The loan is scheduled to mature on June 29,
2028.
Fidelity Advisor Value Fund is a fund of Fidelity Advisor Series I,
a Trust that is registered under the Investment Company Act of
1940, as amended, as an open-end management investment company
organized as a Massachusetts business trust. Fidelity Management &
Research Company LLC (FMR) serves as investment manager.
Headquartered in Salt Lake City, Utah, TGP Holdings III LLC
(Traeger) is a designer and distributor of wood pellet grills,
grill accessories and related consumables.
TIERRA ADENTRO: Plan Filing Deadline Extended to Jan. 30
--------------------------------------------------------
Judge Mildred Caban Flores has entered an order that Tierra Adentro
Restaurants LLC's motion requesting an extension of time, until
Jan. 30, 2023, to file the disclosure statement and the plan is
granted for cause.
About Tierra Adentro Restaurants
Tierra Adentro Restaurants, LLC sought protection for relief under
Chapter 11 of the Bankruptcy Code (Bankr. D.P.R. Case No. 22-01965)
on July 5, 2022, listing up to $50,000 in assets and up to $500,000
in liabilities. Javier Vilarino, Esq., at Vilarino & Associates,
LLC serves as the Debtor's counsel.
TIMES SQUARE: Unsecureds Owed $4M Get Recovery in Payout Event
--------------------------------------------------------------
Times Square JV LLC, et al., submitted a Plan of Reorganization and
a Disclosure Statement.
Times Square JV LLC owns a building located at 1605 Broadway, New
York, NY 10019, in central Times Square. In weighing their
options and ultimately determining to pursue a chapter 11 filing,
the Debtors engaged with certain entities with interests in the
Premises to formulate a consensus regarding the terms of the
Debtors' restructuring.
The Debtors entered into a restructuring support agreement (the
"RSA") with Vornado Capital Partners, L.P., Vornado Capital
Partners Parallel, L.P. and Argent (collectively, the "RSA
Parties"). Importantly, the RSA provides a path to a
restructuring, through the Plan, which outlines the pursuit of the
sale of the Premises and related rights (via the Plan or under
section 363 of the Bankruptcy Code) or an equitization of the
Mortgage Lender's secured debt.
The RSA Parties have agreed to support the restructuring
transactions set forth in the Chapter 11 Plan, which was filed
contemporaneously herewith. Among other things, the Mortgage
Lender agreed to permit the Debtors to use cash collateral on a
consensual basis and to provide post-petition financing to enable
the Debtors to implement their restructuring process through
confirmation of the Chapter 11 Plan, including to commence a
marketing process for the sale of all or substantially all of the
Debtors' assets through the Chapter 11 Plan or separately under
section 363 of the Bankruptcy Code.
The RSA provides that all parties thereto will use commercially
reasonable efforts to take such steps as are necessary or
appropriate to implement or support the Plan, and the related
restructuring transactions, as applicable, and includes a variety
of other commitments from the parties, including that 1605 Broadway
LLC (in such capacity, the "DIP Lender") shall provide DIP
financing in the amount of up to $10,000,000, subject to the
Bankruptcy Court's entry of an order approving such DIP financing
(the "DIP Order").
The RSA also requires the Debtors to file certain documents and
satisfy certain objectives ("Milestones") within a specified period
of time.
Payout Event” means the implementation of one or more Successful
Bids, in accordance
with the Bidding Procedures, by a Person that is not a Secured
Lender or DIP Lender, for all of the Debtors' Assets in which the
proceeds of any Successful Bid (or Successful Bids, as applicable)
when combined with cash proceeds received from the Debtors’
operations provides the Debtors with cash necessary to (i) satisfy
all claims of the DIP Lender, (ii) satisfy all Mortgage Lender
Secured Claims (unless the Secured Lender agrees to a lesser
amount), (iii) satisfy the Allowed Administrative Expense Claims,
(iv) satisfy any break-up fee or expense reimbursement payable
under the Bidding Procedures Order, (v) fund the Administrative
Expense and Priority Escrow Account, and (vi) fund the Liquidation
Trust Funding Amount, each on or before the Effective Date.
As of the Petition Date, the Debtors' consolidated unsecured debt
obligations totaled approximately $4,237,094. Under the Plan Class
5a, 5b, 5c Other Unsecured Claims are impaired.
Class 5a Treatment: Each Holder of an Allowed Other Unsecured Claim
against TSJV will receive, on account of such Allowed Claim:
(x) if a Payout Event occurs, its Pro Rata Share (together with
Holders of Class 4a Claims) of Net Sale Proceeds at TSJV, or
(y) If a Payout Event does not occur, Holders of Other Unsecured
Claims against TSJV shall not receive any distribution on account
of such Other Unsecured Claim and all such Other Unsecured Claims
shall be cancelled and discharged.
Class 5b Treatment: Each Holder of an Allowed Other Unsecured Claim
against CPTS will receive, on account of such Allowed Claim:
(x) if a Payout Event occurs, its Pro Rata Share (together with
Holders of Class 4b claims) of Net Sale Proceeds at CPTS; or
(y) If a Payout Event does not occur, Holders of Other Unsecured
Claims against CPTS shall not receive any distribution on account
of such Other Unsecured Claim and all such Other Unsecured Claims
shall be cancelled and discharged.
Class 5c Treatment: Each Holder of an Allowed Other Unsecured Claim
against the 1601 Broadway Entities will receive, on account of such
Allowed Claim:
(x) if a Payout Event occurs, its Pro Rata Share (together with
Holders of Class 4c claims) of Net Sale Proceeds at the applicable
1601 Broadway Entity; or
(y) If a Payout Event does not occur, Holders of Other Unsecured
Claims against the 1601 Broadway Entities shall not receive any
distribution on account of such Other Unsecured Claim and all such
Other Unsecured Claims shall be cancelled and discharged.
Means for Implementation if a Payout Event Occurs:
If a Payout Event occurs, the Successful Bid (or Successful
Bidders, as applicable) shall transfer to the Debtors pursuant to
the Bidding Procedures the Cash necessary to (i) satisfy all claims
of the DIP Lender, (ii) satisfy all claims of the Secured Lenders;
(iii) satisfy any break-up fee or expense reimbursement payable
under the Bidding Procedures Order, (iv) fund the Administrative
Expense and Priority Escrow Account, and (v) fund a wind-down
budget of no more than $1,000,000, each on or before the Effective
Date. Following the payment of distributions to the DIP Lender and
the Secured Lenders on the Effective Date, the Net Sale Proceeds
shall be available for distribution as provided under the Plan.
If a Payout Event does not occur, on the Effective Date, or as soon
as reasonably practicable thereafter, the Reorganized Debtors shall
implement a series of transactions (the "Restructuring
Transactions"), including (a) the exchange of 100% of the DIP
Facility and no more than [•] of the Mortgage Loan for a pro rata
share of 100% of the Reorganized TSJV Equity Interests, (b)
cancellation of the Interests in TSJV and CPTS, and (c) entry into
the Exit Facility Credit Agreement.
The Bankruptcy Court has scheduled a hearing to consider
confirmation of the Plan for March 10, 2023 at 9:30 a.m. (Eastern
Time) in the United States Bankruptcy Court for the Southern
District of New York (the "Confirmation Hearing"). Objections, if
any, to confirmation of the Plan must be filed and served on or
before March 3, 2022 at 4:00 (Eastern Time).
Proposed Counsel to the Debtors:
John R. Ashmead, Esq.
Robert J. Gayda, Esq.
Catherine V. LoTempio, Esq.
Andrew J. Matott, Esq.
SEWARD & KISSEL LLP
One Battery Park Plaza
New York, NY 10004
Telephone: (212) 574-1200
Facsimile: (212) 480-8421
A copy of the Disclosure Statement dated Dec. 28, 2022, is
available at https://bit.ly/3G76Qhm from PacerMonitor.com.
About Times Square JV LLC
Times Square JV LLC owns a building located at 1605 Broadway, New
York, NY 10019, in central Times Square (between West 48th and 49th
Streets). The Premises is a total of 840,000 square feet and
consists, among other things, of certain hotel space on the 15th
through 46th floors, currently branded as the Crowne Plaza Times
Square Manhattan Hotel; 196,300 square feet of commercial office
space, portions of which are currently leased to three third-party
tenants; 17,800 square feet of ground floor retail space; certain
billboard spaces; and a parking garage.
Debtor TJV leases the Premises to affiliate CPTS Hotel Lessee LLC
pursuant to an Agreement of Lease dated as of Jan. 1, 2017, as
amended. Affiliates 1601 Broadway Owner LLC and 1601 Broadway
Holdings LLC directly or indirectly own or lease certain real
property underlying the Premises.
Vornado is the ultimate indirect majority parent of non-debtor CPTS
Mezz Borrower, which is the sole legal and beneficial owner of 100%
of the issued and outstanding limited liability company membership
interests in Debtor CPTS.
On Dec. 28, 2022, CPTS Hotel Lessee LLC ("CPTS"), Times Square JV
LLC ("TSJV"), 1601 Broadway Owner LLC and 1601 Broadway Holdings
LLC filed voluntary petitions for relief under chapter 11 of the
Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 22-11715) on Dec.
27, 2022. In the petition filed by Richard Shinder, as
president, treasurer and sole director, TSJV reported assets and
liabilities between $100 million and $500 million.
The Debtors are represented by:
John R. Ashmead, Esq.
Seward & Kissel, LLP
15 East Putnam Avenue
Suite 406
Greenwich, CT 06830
TKC HOLDINGS: Fidelity Fund Marks $13.7M Loan at 16% Off
--------------------------------------------------------
Fidelity Advisor Value Fund, a fund of Fidelity Advisor Series I,
has marked its $13,758,000 loan extended to TKC Holdings Inc to
market at $11,581,000, or 84% of the outstanding amount, as of
October 31, 2022, according to a disclosure contained in its Form
N-CSR for the fiscal year ended October 31, 2022, filed with the
Securities and Exchange Commission on December 21.
Fidelity Advisor Value Fund extended a first lien term loan that
carries 9.18% interest (1 month U.S. LIBOR + 5.500%) to TKC
Holdings Inc. The loan is scheduled to mature on May 3, 2028.
Fidelity Advisor Value Fund is a fund of Fidelity Advisor Series I,
a Trust that is registered under the Investment Company Act of
1940, as amended, as an open-end management investment company
organized as a Massachusetts business trust. Fidelity Management &
Research Company LLC (FMR) serves as investment manager.
TKC is a provider of commissary, food service, and related products
to the corrections industry across the United States. The company
is headquartered in St. Louis, Missouri, and is owned by funds
affiliated with H.I.G. Capital.
TREASURE ISLAND: Seeks Approval to Tap Sole Law as Special Counsel
------------------------------------------------------------------
Treasure Island Yacht and Tennis Club of Pinellas County, LLC seeks
approval from the U.S. Bankruptcy Court for the Middle District of
Florida to hire Sole Law, PLLC as its special counsel.
The Debtor owns a parcel of improved commercial real property
located within The City of Treasure Island. The city government has
interfered with the development rights of the Debtor, causing a
controversy.
Sole Law will represent the Debtor in all aspects of the effort to
deal with the city government and its land use restrictions on the
property.
The firm will be compensated as follows:
a. 10 percent of the recovery; and
b. reduced hourly rates of $285 per hour for attorneys and
$150 per hour for paralegals and legal assistants.
As disclosed in court filings, Sole Law neither represents nor
holds any interest adverse to the Debtor and its estate.
The firm can be reached through:
Kathryn J. Sole, Esq.
Sole Law, PLLC
555 5th Ave N.
St. Petersburg, FL 33701
Phone: +1 727-490-9086
Email: Kathryn@sole-law.com
About Treasure Island Yacht and
Tennis Club of Pinellas County
Treasure Island Yacht and Tennis Club of Pinellas County, LLC owns
and operates a private club in Treasure Island, Fla. The Club
offers waterside dining to local and traveling patrons.
Treasure Island filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No.
22-05052) on Dec. 22, 2022, with $1 million to $10 million in
assets and $10 million to $50 million in liabilities. William L.
Edwards, a member of Treasure Island, signed the petition.
Stephenie Biernacki Anthony, Esq., at Anthony & Partners, LLC and
Sole Law, PLLC serve as the Debtor's bankruptcy counsel and special
counsel, respectively.
TREASURE ISLAND: Taps Tropical Valuation Advisory as Appraiser
--------------------------------------------------------------
Treasure Island Yacht and Tennis Club of Pinellas County, LLC seeks
approval from the U.S. Bankruptcy Court for the Middle District of
Florida to hire Tropical Valuation Advisory, LLC to conduct an
appraisal of its facility in Treasure Island, Fla.
The majority of the work to be performed by Tropical will be
handled by Ronald Oxtal, MAI, whose standard hourly rate is $475.
Lower hourly rates are provided for junior appraisers and
researchers.
The firm received a pre-bankruptcy retainer in the amount of
$15,000.
As disclosed in court filings, Tropical is a "disinterested person"
within the meaning of Section 101(14) of the Bankruptcy Code.
The firm can be reached through:
Ron Oxtal, MAI
Tropical Valuation Advisory, LLC
5421 Beaumont Center Blvd #655
Tampa, FL 33634
Phone: +1 813-343-0907
Email: roxtal@capright.com
About Treasure Island Yacht and
Tennis Club of Pinellas County
Treasure Island Yacht and Tennis Club of Pinellas County, LLC owns
and operates a private club in Treasure Island, Fla. The Club
offers waterside dining to local and traveling patrons.
Treasure Island filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No.
22-05052) on Dec. 22, 2022, with $1 million to $10 million in
assets and $10 million to $50 million in liabilities. William L.
Edwards, a member of Treasure Island, signed the petition.
Stephenie Biernacki Anthony, Esq., at Anthony & Partners, LLC and
Sole Law, PLLC serve as the Debtor's bankruptcy counsel and special
counsel, respectively.
TRINITY LEGACY: Court OKs Cash Collateral Access Thru March 31
--------------------------------------------------------------
The U.S. Bankruptcy Court for the District of New Mexico authorized
Trinity Legacy Consortium, LLC to use cash collateral on an interim
basis in accordance with the budget and provide adequate
protection.
A final hearing on the Debtor's amended motion to use cash
collateral through March 31, 2023, was set for January 6. Due to an
issue regarding the jurisdiction of the Court which must be
resolved first, the final hearing was continued to January 9, 2023.
The interim cash collateral order only permits interim use of cash
collateral through January 6.
Additionally, counsel for materials supplier Builders FirstSource
represented that the Debtor from time to time receives funds that
are to be held in trust for Builders FirstSource pursuant to a
written agreement between the Debtor and Builders FirstSource.
The Court said the expiration of all terms set forth in the Interim
Cash Collateral Order are extended until the Court rules on the
Debtor's amended motion to use cash collateral through March 31.
The Debtor is not permitted to expend any funds held in trust for
Builders FirstSource. If the Debtor currently holds any funds in
trust for Builders FirstSource or receives any money to be placed
in trust for Builders FirstSource, pursuant to an agreement between
the Debtor and Builders FirstSource, the Debtor will promptly open
a segregated bank account, place such funds in the segregated
account, and not use any of such funds without further Court
order.
A copy of the order is available at https://bit.ly/3ipmv3D from
PacerMonitor.com.
About Trinity Legacy Consortium, LLC
Trinity Legacy Consortium, LLC operates a construction and home
building business with locations in Farmington, NM and Wallowa,
Oregon.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D.N.M. Case No. 22-10973) on December 7,
2022. In the petition signed by Jan Swift and Jacob Swift, managing
members, the Debtor disclosed up to $500,000 in assets and up to $1
million in liabilities.
Judge Robert H. Jacobvitz oversees the case.
Dennis A. Banning, Esq., at NM Financial Law, P.C., is the Debtor's
legal counsel.
ULTRA SEAL CORPORATION: Taps Timothy Dittenhoefer as Consultant
---------------------------------------------------------------
Ultra Seal Corporation and its affiliates received approval from
the U.S. Bankruptcy Court for the Southern District of New York to
employ Timothy Dittenhoefer, Rph as consultant.
Mr. Dittenhoefer will review all artwork required for compliant
labeling, per Code of Federal Regulations Title 21. He will charge
$75 per label.
As disclosed in court filings, Mr. Dittenhoefer is a "disinterested
person" within the meaning of Section 101(14) of the Bankruptcy
Code.
The firm can be reached at:
Timothy Dittenhoefer
2810 South Road
Poughkeepsie, NY 12601
Tel: (845) 471-6440
Fax: (845) 471-7258
About Ultra Seal Corporation
Ultra Seal Corporation is a privately owned and operated contract
packager of pharmaceutical products, nutritional supplements and
personal care products located in the heart of New York's Hudson
Valley. Affiliate, Ultra-Tab Laboratories, Inc., is a bulk
manufacturer of those products. Both are regulated by the U.S. Food
and Drug Administration.
Ultra Seal and Ultra-Tab sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 22-35630) on
Oct. 6, 2022. At the time of the filing, Ultra Seal listed
$8,861,955 in assets and $5,757,027 in liabilities while Ultra-Tab
listed up to $10 million in both assets and liabilities.
Judge Cecelia G. Morris oversees the cases.
The Debtors tapped Michelle L. Trier, Esq., at Genova, Malin &
Trier, LLP as legal counsel; RBT CPAs, LLP as accountant; and
Timothy Stewart at T.S. Essential Consulting as consultant.
VACATION CONSULTING: Case Summary & 20 Top Unsecured Creditors
--------------------------------------------------------------
Debtor: Vacation Consulting Services, LLC
1525 E. Cherry St.
Springfield, MO 65802
Chapter 11 Petition Date: January 9, 2023
Court: United States Bankruptcy Court
Western District of Missouri
Case No.: 23-60006
Debtor's Counsel: David E. Schroeder, Esq.
DAVID SCHROEDER LAW OFFICES, P.C.
1524 East Primrose St
Suite A
Springfield, MO 65804
Tel: (417) 890-1000
Email: bk1@dschroederlaw.com
Total Assets: $0 to $50,000
Total Liabilities: $1 million to $10 million
The petition was signed by Brian Scroggs, sole member and managing
member.
A full-text copy of the petition containing, among other items, a
list of the Debtor's 20 largest unsecured creditors is available
for free at PacerMonitor.com at:
https://www.pacermonitor.com/view/NA37HPQ/Vacation_Consulting_Services_LLC__mowbke-23-60006__0001.0.pdf?mcid=tGE4TAMA
VENTURE GLOBAL: S&P Raises ICR to 'BB+', Outlook Positive
---------------------------------------------------------
S&P Global Ratings raised its issue-level ratings on Venture Global
Calcasieu Pass LLC (VGCP) to 'BB+' from 'BB' and removed it from
under criteria observation (UCO).
S&P said, "The outlook on the rating remains positive and reflects
our expectation of raising the rating once construction and
commissioning are complete and the project successfully passes the
90-day lender reliability test. We expect a minimum debt-service
coverage ratio (DSCR) during operations of 1.54x."
Venture Global is a 10-million metric ton per year (MTPA)
liquefaction facility on the Gulf Coast in Cameron Parish, La. The
project is in the construction phase with construction
substantially complete as of Oct. 31, 2022, and with contractors
materially on schedule and within budget. VGCP is unique because
its construction is modular, with liquefaction modules built in
overseas factories and fabrication yards. VGCP procures natural gas
for the conversion and subsequent sale of liquefied natural gas
(LNG) to off-takers under long-term take-or-pay sales and purchase
agreements (SPA).
Key features include:
-- A 10-MTPA nameplate liquefaction facility on the U.S. Gulf
Coast;
-- Situated on approximately 1,000 acres of land with over 1.5
miles of deep-water frontage at the mouth of the Calcasieu shipping
channel adjacent to the Gulf of Mexico;
-- Eight marine offloading sites; and
-- Approximately $7 billion in capital deployed in support of this
project as of Sept. 30, 2022.
-- SPAs with 20-year terms (85%) with highly rated counterparties
eliminate the majority of market risk and support the credit
quality of the operations phase.
-- There is a significant time buffer (approximately 15 months)
before any delay in the final commercial operations date(COD) would
trigger a termination right under the SPAs.
-- The project benefits from strong full-payment and credit
guarantees from highly rated construction counterparties and
uncapped make goods from Kiewit Corp. and Baker Hughes.
-- The chief risk to this project is the completion of the
construction phase and demonstration that the facility can produce
LNG consistently at or above nameplate capacity.
-- About 15% of capacity is contracted under shorter term three-
and five-year contracts, which exposes VGCP to market risk upon
expiration. Although S&P expects market prices to remain more than
currently contracted prices, this would present a risk should spot
-- LNG prices deteriorate materially.
-- The chief risk during the operations phase is operational risk
and the ability to maintain production at or above 10 mtpa.
-- Largely bullet-style debt increases refinancing risk.
S&P said, "The positive outlook reflects our expectation to raise
the rating once construction and commissioning are fully complete
and the project passes the 90-day lender reliability test. While we
expect the project to declare commercial operations in the third
quarter of 2023, we could raise the rating before this if we
believed the project has established a track record of operating at
full capacity as designed and is past start-up issues. We expect a
minimum DSCR during operations of 1.54x.
"We could revise the outlook to stable if the project experiences
material operational issues in operating the facility at full
capacity such that achieving COD is delayed. We consider these
remote possibilities now.
"We could raise the rating once the project successfully passes the
90-day lender reliability test and demonstrates that growing pains
or mechanical issues are resolved and the project can operate at
full capacity according to the expected technical specifications."
VERIPAC LLC: Wins Cash Collateral Access Thru Jan 15
----------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Missouri,
Eastern Division, authorized Veripac, LLC and Smartpac, Inc. to use
cash collateral on an interim basis in accordance with the budget,
through January 15, 2023 at 5 p.m.
Veripac, LLC's obligations are:
* $616,012 under a St. Louis Bank Term Loan;
* $215,420 under a St. Louis Bank Line of Credit Loan;
* $1.641 million to the US Small Business Association; and
* $1.392 million to Midwest Business Funding
Smartpac, Inc.'s obligations are:
* $2,435,573 under a St. Louis Bank Term Loan; and
* $472,885 under a St. Louis Bank Line of Credit Loan.
As adequate protection for use of the cash collateral, St. Louis
Bank -- which has valid and perfected first priority liens in all
assets of Debtors -- and Midwest will each have replacement liens
in any prepetition assets of Debtors' estate which will attach to
the same assets as the pre-petition liens of that creditor, and
will have the same validity, priority, perfection, and
enforceability as that creditor's interests in any assets of the
Debtors' estates and to the extent of any diminution in value. The
separate security and priorities granted to St. Louis Bank and
Midwest will not affect or impair the separate existing collateral
of all other creditors. Any and all causes of action under Chapter
5 of the Bankruptcy Code are expressly excluded from the foregoing
replacement liens.
As additional adequate protection, the Debtors will continue to
make all monthly interest payments on its promissory notes with St.
Louis Bank at the following rates. The automatic stay is modified
to the extent necessary to allow St. Louis Bank to apply all
payments to the interest due on indebtedness in accordance with the
loan documents and/or customary banking practices.
The Debtors will provide St. Louis Bank on Monday of each week, a
reconciliation of actual receipts and expenditures to receipts and
expenditures set forth in the Budget, by customer/supplier and
project, along with copies of Bank statements showing receipts and
disbursements.
The Debtors will provide an updated budget to St. Louis Bank on or
before January 3, 2023, covering the use of cash collateral for a
period of one month after January 15, 2023.
The replacement liens granted will be subject only to the
carve-out: (i) the allowed professional fees and expenses of the
Debtors' respective bankruptcy counsel not to exceed $25,000 each
to be paid as ordered by the Bankruptcy Court and only to the
extent so ordered, including payments made in accordance with local
rules and guidelines on payment of interim compensation in Chapter
11 cases and (ii) the allowed professional fees and expenses of the
Subchapter V Trustee.
A continued hearing on the matter is set for January 10 at 10
a.m.
A copy of the order and the budget is available at
https://bit.ly/3W4X7hC from PacerMonitor.com.
Veripac projects, total operating disbursements, on a weekly basis,
as follows:
$160,835 for the week starting January 1, 2023;
$143,117 for the week starting January 8, 2023; and
$146,117 for the week starting January 15, 2023.
Smartpac projects, total operating disbursements, on a weekly
basis, as follows:
$157,350 for the week starting January 1, 2023;
$126,581 for the week starting January 8, 2023; and
$130,706 for the week starting January 15, 2023.
About Smartpac Inc.
and Veripac, LLC
Smartpac Inc. sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Mo. Case No. 22-43840) on December 9,
2022. In the petition signed by Carey Edwards, president, the
Debtor disclosed up to $10 million in both assets and liabilities.
As of Nov. 30, 2022, Smartpac had $6.78 million in total assets
against $8.2 million in total liabilities.
Veripac, LLC also sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Mo. Case No. 22-43839) on December 9,
2022. In the petition also signed by Edwards, president, the Debtor
disclosed up to $10 million in both assets and liabilities.
The cases are jointly administered under Smartpac's case. Judge
Kathy A. Surratt-States presides over the Debtors' cases.
Robert E. Eggmann, Esq., at Carmody MacDonald P.C., is the Debtors'
legal counsel.
Stephen D. Coffin has been appointed as Subchapter V Trustee.
WARNER SCIENCE: Case Summary & 11 Unsecured Creditors
-----------------------------------------------------
Debtor: Warner Science Applications
d/b/a EAG
d/b/a Dealer Offroad Customs
d/b/a Vicious Offroad
9155 Archibald Ave.
Suite 105
Rancho Cucamonga, CA 91730
Chapter 11 Petition Date: January 9, 2023
Court: United States Bankruptcy Court
Central District of California
Case No.: 23-10070
Debtor's Counsel: David L. Neale, Esq.
LEVENE, NEALE, BENDER, YOO & GOLUBCHIK L.L.P.
2818 La Cienega Avenue
Los Angeles, CA 90034
Tel: (310) 229-1234
Email: dln@lnbyg.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Samson Yang, vice president and
authorized signatory.
A full-text copy of the petition containing, among other items, a
list of the Debtor's 11 unsecued creditors is available for free at
PacerMonitor.com at:
https://www.pacermonitor.com/view/P2QYCLI/Warner_Science_Applications__cacbke-23-10070__0001.0.pdf?mcid=tGE4TAMA
WESTERN AUSTRALIAN: Taps Dave Cash of Keller Williams as Broker
---------------------------------------------------------------
Western Australian Holdings, LLC received approval from the U.S.
Bankruptcy Court for the Western District of North Carolina to
employ Dave Cash, a real estate broker at Keller Williams
Professionals.
The Debtor requires a real estate broker to sell its property
located at 1610 Perth Road, Clyde, Haywood County, N.C.
The broker will receive a commission equal to 5 percent of the
sales price.
As disclosed in court filings, the broker is a "disinterested
person" within the meaning of Section 101(14) of the Bankruptcy
Code.
The broker can be reached at:
Dave Cash
Keller Williams Professionals
86 Asheland Ave
Asheville, NC 28801
Mobile: (704) 840-4865
Office: (828) 210-1642
Email: dave@brokerasheville.com
About Western Australian Holdings
Western Australian Holdings, LLC -- https://www.majorsestate.com/
-- operates a 200-acre mountain ranch. Based in Clyde, N.C., the
company conducts business under the name Majors Estate.
Western Australian Holdings sought Chapter 11 bankruptcy protection
(Bankr. W.D.N.C. Case No. 22-10058) on April 27, 2022. In the
petition filed by its manager, Timothy F. Majors, the Debtor listed
up to $10 million in assets and up to $50 million in liabilities.
Judge George R. Hodges oversees the case.
Hendren Redwine & Malone, PLLC and David M. Cole, CPA, LLC serve as
the Debtor's legal counsel and accountant, respectively.
WILLIAM HOLDINGS: Trustee Taps Greenspoon Marder as Legal Counsel
-----------------------------------------------------------------
Howard Ehrenberg, Chapter 11 trustee for William Holdings, LLC,
seeks approval from the U.S. Bankruptcy Court for the Central
District of California to hire Greenspoon Marder, LLP as his
bankruptcy counsel.
The trustee requires the services of a bankruptcy counsel related
to:
(a) the retention of necessary professionals to manage the
properties and collect rents;
(b) the collection of rents and the segregation of those rents
into the specific debtor-in-possession account that has already
been established relating to each of the properties,
(c) the proper disposition of the properties whether by sale,
foreclosure or otherwise;
(d) the nature of the claims against the Debtor and
communication with creditors regarding treatment of those claims;
and
(e) the nature of claims the estate may possess against third
parties.
The firm will be paid at these rates:
Partners $435 - $1100 per hour
Associate $250 - $590 per hour
Paralegals $125 - $400 per hour
Steven Werth is the attorney at Greenspoon who will be primarily
responsible for representing the trustee in this matter. His hourly
billing rate is $610.
As disclosed in court filings, Greenspoon is a "disinterested
person" within the meaning of Section 101(14) of the Bankruptcy
Code.
The firm can be reached through:
Steven F. Werth, Esq.
Greenspoon Marder, LLP
333 South Grand Ave., Suite 3400
Los Angeles, CA 90071
Phone: (213) 617-5210
Email: Steven.Werth@gmlaw.com
About William Holdings
Los Angeles-based William Holdings, LLC sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Calif. Case No.
22-14708) on Aug. 29, 3033, with between $10 million and $50
million in both assets and liabilities. Kameron Segal, chief
executive officer, signed the petition.
Judge Deborah J. Saltzman oversees the case.
The Debtor is represented by the Law Offices of Michael Jay
Berger.
Howard M. Ehrenberg, the Chapter 11 trustee appointed in the
Debtor's case, is represented by Greenspoon Marder, LLP.
XEROX HOLDINGS: HPS Affiliate Deal No Impact on Moody's Ba2 CFR
---------------------------------------------------------------
Moody's Investors Service said the recently announced strategic
shift in the approach Xerox Holdings Corporation will use to fund a
significant portion of future originations is credit positive.
Going forward, planned growth in the equipment lease and financing
portfolio of FITTLE, Xerox's financing segment, will be funded
externally which preserves free cash flow for other purposes.
Earlier this week, Xerox announced it entered into an agreement
with an affiliate of HPS Investment Partners, LLC (HPS) that
provides FITTLE with the option to sell eligible receivables
(primarily U.S. direct originations) to the HPS affiliate. Xerox
expects a significant portion of future equipment leases will be
funded through third parties, as opposed to its historical approach
of providing 100% of equipment financing. Roughly $600 million of
receivables is expected to be funded over the next year, and Xerox
is exploring similar forward funding arrangements for additional
portions of FITTLE's future lease receivables. Moody's now expects
the $300 million note payment due March 2023 will be repaid with
cash, instead of being refinanced given improved free cash flow.
There are no changes to existing ratings, including the Ba2 CFR, or
the stable outlook. Ratings for Xerox continue to be pressured by
the ongoing challenge to grow core printing and copier revenues and
restore profit margins given the sector's maturity and competitive
landscape among a few deep-pocketed providers. Operating results
through 3Q22 were hurt by slower than expected return to office
trends, a strong dollar, and an inflation-led higher cost base
which contributed to Xerox reducing 2022 full-year guidance for
revenues and profit margins and elevated debt to EBITDA of 6.4x
(Moody's adjusted) as of September 2022. For 2023, Moody's expects
Xerox will face challenges to grow revenues given secular pressures
from declining print demand and only partial recovery in the
percentage of workers returning to their offices.
The Ba2 CFR incorporates Moody's expectation that credit metrics,
including adjusted debt to EBITDA, will improve in 2023 given
partial restoration of profit margins as a result of recent price
increases and better product mix. Free cash flow will also rebound
over 2022 levels reflecting the company's revised strategy to
conserve cash by streamlining investments in Xerox's innovation
portfolio (announced October 2022) combined with the more recent
announcement regarding external funding of equipment financing
receivables. Prior to the second half of 2022, Xerox had earmarked
up to $200 million for investment in new ventures.
FITTLE will continue to service financing receivables for a fee and
earn commissions on lease receivables sold. Although the transition
to third-party financing does not change Moody's calculation of
adjusted debt to EBITDA which already carves out debt associated
with captive financing operations, external funding reduces risks
related to managing sizable debt maturities and cost of funding.
Xerox continues to have very good liquidity with over $900 million
of balance sheet cash as of September 2022. Although the recent
amendment to the credit agreements reduced the committed revolver
facility to $250 million from $500 million, the amendment also
eliminated the $500 million minimum cash balance requirement
measured at each quarter end. Historically, the revolver was
undrawn, and Moody's expect the revolver will continue to be
undrawn over the next year given the projected increase in free
cash flow in 2023 supported by improving profitability, reduced
levels of growth investments, and some easing of supply chain
disruptions.
Xerox Holdings Corporation, based in Norwalk, CT, is a leader in
document processing systems and related supplies for enterprises
including SMBs, governmental entities, and Fortune 100 companies.
Revenues are generated primarily in the Americas and EMEA and
totaled $6.9 billion for LTM September 2022.
[*] Ex-Texas AG Jason Binford Joins Ross & Smith as Shareholder
---------------------------------------------------------------
Former Texas Assistant Attorney General Jason B. Binford has joined
the respected bankruptcy and mediation firm Ross & Smith, PC, as a
name shareholder.
The boutique law firm became known as Ross, Smith & Binford, PC,
with offices in Dallas and Austin, effective Jan. 2.
"I have known Jason for almost two decades. Throughout his public
service and in his prior private practice, he has proven to be a
preeminent figure in bankruptcy, with a demonstrated track record
of success," said firm co-founder and managing shareholder Frances
A. Smith. "Jason is a bankruptcy thought leader who applies an
innovative and intellectual approach to the law. He is an ideal fit
for this firm and will complement our existing practice, which
focuses on providing the type of sophisticated, aggressive
representation typically associated with big firms, but in a more
personalized, cost-effective manner."
Mr. Binford served in the Bankruptcy and Collections Division of
the Office of the Attorney General of Texas from 2020 to 2022 where
he managed the Bankruptcy Regulatory Team. He appeared in
bankruptcy courts on behalf of Texas agencies, spearheading the
state's participation in every major Chapter 11 filed in Texas, as
well as cases outside the state.
He previously practiced at Kane Russell Coleman Logan, PC, and
Foley & Lardner LLP, litigating Chapter 11 issues focusing on
regulatory matters, franchising, and intellectual property across
the country. He is the co-editor and co-author of the American Bar
Association's Bankruptcy Handbook for Franchisors and Franchisees,
the only full-length book substantively analyzing the complicated
intersections between bankruptcy and franchise law.
Mr. Binford shared his excitement at joining the firm founded by
prominent Texas-based bankruptcy attorneys Judith W. Ross and Ms.
Smith.
"I have seen Frances and Judi in bankruptcy court many times. They
are both legal forces of nature who are driven by client service. I
look forward to working with them to grow our firm," said Mr.
Binford.
Ms. Smith is a recognized leader in the representation of debtors,
secured lenders, unsecured creditor committees, and asset
purchasers in bankruptcy. She serves as Chair of the Bankruptcy
Section of the State Bar of Texas and is on the Executive Committee
of the John C. Ford Bankruptcy Inn of Court, a professional
organization recognized for excellence in providing quality
bankruptcy educational programs.
With nearly 35 years of experience in corporate reorganization and
bankruptcy, Ms. Ross is widely recognized for her work with
companies facing financial distress. She serves as Co-Chair of the
Alternative Dispute Resolution Subcommittee of the Business
Bankruptcy Committee of the American Bar Association
About Ross, Smith & Binford, PC
Ross, Smith & Binford, PC -- http://www.RSBfirm.com/-- is a
boutique law firm focused on corporate restructuring, bankruptcy,
insolvency, and mediation. A nationwide practice based in Texas,
the firm provides personalized client service, sound business
knowledge, and tenacious litigation skill. With over 150 years of
combined experience in the areas of bankruptcy, litigation and
mediation, Ross, Smith & Binford is well-equipped to handle a wide
range of legal and advisory services.
[*] McKool Smith Promotes Two Attorneys to Principal
----------------------------------------------------
McKool Smith on Jan. 9 announced the promotion of two attorneys to
Principal in the firm's Houston and Washington, D.C. offices,
effective January 1, 2023.
"The promotion of our new principals reflect their individual
achievements and significant contributions to our firm," said
McKool Smith Chairman and Managing Principal David Sochia. "These
two are the latest in a long line of McKool Smith professionals who
have distinguished themselves with their skills, business acumen,
and commitment to our clients."
Veronica Manning is a Principal in the Houston office. Her practice
involves complex commercial litigation, with significant experience
in the chapter 11 restructuring space and bankruptcy litigation.
She has represented debtors, creditors' committees and creditors in
complex Chapter 11 bankruptcy cases, and litigation trustees in
post-confirmation D&O litigation.
John Holley is a Principal in the Washington, D.C. office. He
focuses on patent infringement litigation in the federal district
courts and the International Trade Commission. John leverages his
technical expertise and deep litigation experience to provide
strategic analysis crucial to bringing successful results to
clients. He has handled cases in a wide array of technologies,
including software, display devices, telecommunications (including
optical networking, 3G, 4G LTE, and ATSC-M/H), printer
technologies, semiconductor devices, encryption, and medical
devices.
With 130 trial lawyers across offices in Austin, Dallas, Houston,
Los Angeles, Marshall, New York, and Washington, D.C., McKool Smith
has established a reputation as one of America's leading trial
firms. The firm has secured 13 nine-figure jury verdicts and 15
eight-figure jury verdicts, obtaining more VerdictSearch and The
National Law Journal "Top 100 Verdicts" than any other law firm.
These courtroom successes have earned McKool Smith critical acclaim
and helped the firm become what The Wall Street Journal describes
as "one of the biggest law firm success stories of the past
decade." McKool Smith represents clients in complex commercial
litigation, intellectual property, bankruptcy, insurance recovery,
and white collar defense matters.
For more information, please contact Keith Hill at (903) 923.9005
or email khill@mckoolsmith.com.
[] PE-Backed Companies' Bankruptcy Filings Rose in 2022
-------------------------------------------------------
Karl Angelo of SP Global reports that the number of bankruptcy
filings by private equity-backed companies in the U.S. edged higher
in 2022, with the consumer sector, battered by supply chain
disruptions and surging inflation, leading the pack.
Forty-nine private equity portfolio companies have filed for
bankruptcy in 2022, representing 6.6% of total filings in the U.S.,
according to S&P Global Market Intelligence data as of Dec. 9. This
compares with 42 portfolio companies that filed the previous year,
2021, representing 3.5% of the total.
U.S. PE Portfolio Companies that filed bankruptcies in 2022
Liquidating
* XG Sciences Inc.
* Power Home Solar LLC
* B Hospitality Corp.
* Simply Inc.
* Generex Biotechnology Corp.
* Medrobotics Corp.
Reorganizing
* Winc Inc.
* BlockFi Inc.
* BlockFi Lending LLC
* Deck Technologies Inc.
* Taronis Fuels Inc.
* West Realm Shires Services Inc.
* Fast Radius Inc.
* RubrYc Therapeutics Inc.
* PhaseBio Pharmaceuticals Inc.
* Custom Alloy Corp.
Operating
* Redcon1 LLC
* Hale & Hearty Soups LLC
* Corsicana Bedding LLC
* ION Geophysical Corp.
* BH Cosmetics Inc.
Of the portfolio companies that filed for bankruptcy in 2022, 38
are restructuring, six have liquidated and the remaining five are
still operating.
The consumer sector accounted for 15 of those bankruptcies,
followed by the healthcare industry with 11 filings.
Bankrupt companies
Cosmetics company Revlon Inc. on June 16, 2022 announced that it
filed for Chapter 11 bankruptcy, citing liquidity constraints
brought about by supply chain disruptions, rising inflation and
obligations to its lenders. The company, which counts Ares Private
Equity Group among its investors, sought $575 million in
debtor-in-possession financing from its existing lender base to
support its day-to-day operations.
Another cosmetics company, BH Cosmetics Inc., also filed for
bankruptcy Jan. 14, 2022. It was bought out of bankruptcy by
Revolution Beauty Group PLC, which acquired certain BH intellectual
property assets and inventory for $3.9 million. BH counts Trinity
Capital Investment LLC and Trinity Capital Inc. among its
investors.
Cryptocurrency companies also had a disastrous year. Cryptocurrency
exchange West Realm Shires Services Inc., doing business as FTX US,
filed for bankruptcy Nov. 11, 2022. FTX founder Sam Bankman-Fried
was charged by the U.S. Justice Department over alleged
misappropriation of customer funds deposited with the platform.
West Realm counts Temasek Holdings (Pvt.) Ltd., Lightspeed Ventures
LLC and Greenoaks Capital Partners LLC among its backers.
Other bankrupt private equity-backed companies that have links with
FTX include BlockFi Inc., Blockfi Lending LLC and Deck Technologies
Inc.
Cryptocurrency lender Voyager Digital Ltd., which is backed by
venture capital firms Jump Capital LLC, Digital Currency Group Inc.
and Streamlined Ventures, began a voluntary Chapter 11
reorganization process July 5, 2022 days after its operating
platform Voyager Digital LLC suspended trading, deposits,
withdrawals and loyalty rewards due to prevailing market
conditions.
Voyager agreed to sell its assets to FTX in September 2022 for
about $1.42 billion, but it decided to reopen the bidding process
months later following FTX's collapse.
[^] Large Companies with Insolvent Balance Sheet
------------------------------------------------
Total
Share- Total
Total Holders' Working
Assets Equity Capital
Company Ticker ($MM) ($MM) ($MM)
------- ------ ------ -------- -------
7GC & CO HOLD-A VII US 231.4 (10.3) (2.2)
7GC & CO HOLDING VIIAU US 231.4 (10.3) (2.2)
ABSOLUTE SOFTWRE ABST US 544.9 (4.3) (53.0)
ABSOLUTE SOFTWRE OU1 GR 544.9 (4.3) (53.0)
ABSOLUTE SOFTWRE ABST CN 544.9 (4.3) (53.0)
ABSOLUTE SOFTWRE ABT2EUR EU 544.9 (4.3) (53.0)
ABSOLUTE SOFTWRE OU1 GZ 544.9 (4.3) (53.0)
ACCELERATE DIAGN AXDX* MM 75.8 (9.8) 56.7
AIR CANADA AC CN 29,754.0 (1,931.0) 1,190.0
AIR CANADA ADH2 GR 29,754.0 (1,931.0) 1,190.0
AIR CANADA ACEUR EU 29,754.0 (1,931.0) 1,190.0
AIR CANADA ADH2 TH 29,754.0 (1,931.0) 1,190.0
AIR CANADA ACDVF US 29,754.0 (1,931.0) 1,190.0
AIR CANADA ADH2 QT 29,754.0 (1,931.0) 1,190.0
AIR CANADA ADH2 GZ 29,754.0 (1,931.0) 1,190.0
ALNYLAM PHAR-BDR A1LN34 BZ 3,535.3 (67.6) 1,918.1
ALNYLAM PHARMACE ALNY US 3,535.3 (67.6) 1,918.1
ALNYLAM PHARMACE DUL GR 3,535.3 (67.6) 1,918.1
ALNYLAM PHARMACE DUL QT 3,535.3 (67.6) 1,918.1
ALNYLAM PHARMACE ALNYEUR EU 3,535.3 (67.6) 1,918.1
ALNYLAM PHARMACE DUL TH 3,535.3 (67.6) 1,918.1
ALNYLAM PHARMACE ALNY* MM 3,535.3 (67.6) 1,918.1
ALNYLAM PHARMACE DUL GZ 3,535.3 (67.6) 1,918.1
ALNYLAM PHARMACE ALNYEUR EZ 3,535.3 (67.6) 1,918.1
ALTICE USA INC-A ATUS US 33,282.6 (339.1) (1,469.1)
ALTICE USA INC-A 15PA GR 33,282.6 (339.1) (1,469.1)
ALTICE USA INC-A 15PA TH 33,282.6 (339.1) (1,469.1)
ALTICE USA INC-A ATUSEUR EU 33,282.6 (339.1) (1,469.1)
ALTICE USA INC-A 15PA GZ 33,282.6 (339.1) (1,469.1)
ALTICE USA INC-A ATUS* MM 33,282.6 (339.1) (1,469.1)
ALTICE USA INC-A ATUS-RM RM 33,282.6 (339.1) (1,469.1)
ALTIRA GP-CEDEAR MOC AR 33,953.0 (4,232.0) (4,077.0)
ALTIRA GP-CEDEAR MOD AR 33,953.0 (4,232.0) (4,077.0)
ALTIRA GP-CEDEAR MO AR 33,953.0 (4,232.0) (4,077.0)
ALTRIA GROUP INC PHM7 GR 33,953.0 (4,232.0) (4,077.0)
ALTRIA GROUP INC MO* MM 33,953.0 (4,232.0) (4,077.0)
ALTRIA GROUP INC MO US 33,953.0 (4,232.0) (4,077.0)
ALTRIA GROUP INC MO SW 33,953.0 (4,232.0) (4,077.0)
ALTRIA GROUP INC MOEUR EU 33,953.0 (4,232.0) (4,077.0)
ALTRIA GROUP INC MO TE 33,953.0 (4,232.0) (4,077.0)
ALTRIA GROUP INC PHM7 TH 33,953.0 (4,232.0) (4,077.0)
ALTRIA GROUP INC MO CI 33,953.0 (4,232.0) (4,077.0)
ALTRIA GROUP INC PHM7 QT 33,953.0 (4,232.0) (4,077.0)
ALTRIA GROUP INC MOUSD SW 33,953.0 (4,232.0) (4,077.0)
ALTRIA GROUP INC PHM7 GZ 33,953.0 (4,232.0) (4,077.0)
ALTRIA GROUP INC 0R31 LI 33,953.0 (4,232.0) (4,077.0)
ALTRIA GROUP INC ALTR AV 33,953.0 (4,232.0) (4,077.0)
ALTRIA GROUP INC MOEUR EZ 33,953.0 (4,232.0) (4,077.0)
ALTRIA GROUP INC MO-RM RM 33,953.0 (4,232.0) (4,077.0)
ALTRIA GROUP INC PHM7 BU 33,953.0 (4,232.0) (4,077.0)
ALTRIA GROUP-BDR MOOO34 BZ 33,953.0 (4,232.0) (4,077.0)
AMC ENTERTAINMEN AMC US 9,206.1 (2,579.0) (717.4)
AMC ENTERTAINMEN AH9 GR 9,206.1 (2,579.0) (717.4)
AMC ENTERTAINMEN AMC4EUR EU 9,206.1 (2,579.0) (717.4)
AMC ENTERTAINMEN AH9 TH 9,206.1 (2,579.0) (717.4)
AMC ENTERTAINMEN AH9 QT 9,206.1 (2,579.0) (717.4)
AMC ENTERTAINMEN AMC* MM 9,206.1 (2,579.0) (717.4)
AMC ENTERTAINMEN AH9 GZ 9,206.1 (2,579.0) (717.4)
AMC ENTERTAINMEN AH9 SW 9,206.1 (2,579.0) (717.4)
AMC ENTERTAINMEN AMC-RM RM 9,206.1 (2,579.0) (717.4)
AMC ENTERTAINMEN A2MC34 BZ 9,206.1 (2,579.0) (717.4)
AMC ENTERTAINMEN APE* MM 9,206.1 (2,579.0) (717.4)
AMC ENTERTAINMEN AH9 BU 9,206.1 (2,579.0) (717.4)
AMC ENTERTAINMEN AMCE AV 9,206.1 (2,579.0) (717.4)
AMERICAN AIR-BDR AALL34 BZ 66,652.0 (7,893.0) (4,593.0)
AMERICAN AIRLINE AAL US 66,652.0 (7,893.0) (4,593.0)
AMERICAN AIRLINE A1G GR 66,652.0 (7,893.0) (4,593.0)
AMERICAN AIRLINE AAL* MM 66,652.0 (7,893.0) (4,593.0)
AMERICAN AIRLINE A1G TH 66,652.0 (7,893.0) (4,593.0)
AMERICAN AIRLINE A1G QT 66,652.0 (7,893.0) (4,593.0)
AMERICAN AIRLINE A1G GZ 66,652.0 (7,893.0) (4,593.0)
AMERICAN AIRLINE AAL11EUR EU 66,652.0 (7,893.0) (4,593.0)
AMERICAN AIRLINE AAL AV 66,652.0 (7,893.0) (4,593.0)
AMERICAN AIRLINE AAL TE 66,652.0 (7,893.0) (4,593.0)
AMERICAN AIRLINE A1G SW 66,652.0 (7,893.0) (4,593.0)
AMERICAN AIRLINE 0HE6 LI 66,652.0 (7,893.0) (4,593.0)
AMERICAN AIRLINE AAL11EUR EZ 66,652.0 (7,893.0) (4,593.0)
AMERICAN AIRLINE AAL-RM RM 66,652.0 (7,893.0) (4,593.0)
AMERICAN AIRLINE AAL_KZ KZ 66,652.0 (7,893.0) (4,593.0)
AMPLIFY ENERGY C AMPY US 458.2 (35.3) (48.9)
AMPLIFY ENERGY C 2OQ GR 458.2 (35.3) (48.9)
AMPLIFY ENERGY C MPO2EUR EU 458.2 (35.3) (48.9)
AMPLIFY ENERGY C 2OQ TH 458.2 (35.3) (48.9)
AMPLIFY ENERGY C 2OQ GZ 458.2 (35.3) (48.9)
AMPLIFY ENERGY C 2OQ QT 458.2 (35.3) (48.9)
AMYRIS INC AMRS* MM 754.1 (404.8) (36.8)
AMYRIS INC A2MR34 BZ 754.1 (404.8) (36.8)
AON PLC-CLASS A AON US 31,223.0 (670.0) 488.0
AON PLC-CLASS A 4VK GR 31,223.0 (670.0) 488.0
AON PLC-CLASS A 4VK QT 31,223.0 (670.0) 488.0
AON PLC-CLASS A 4VK TH 31,223.0 (670.0) 488.0
AON PLC-CLASS A AON1EUR EU 31,223.0 (670.0) 488.0
AON PLC-CLASS A AONN MM 31,223.0 (670.0) 488.0
AON PLC-CLASS A 4VK GZ 31,223.0 (670.0) 488.0
ARENA GROUP HOLD AREN US 167.6 (31.2) (43.0)
ATLAS TECHNICAL ATCX US 528.8 (125.1) 98.7
AUTOZONE INC AZO US 15,315.9 (3,837.9) (2,075.9)
AUTOZONE INC AZ5 TH 15,315.9 (3,837.9) (2,075.9)
AUTOZONE INC AZ5 GR 15,315.9 (3,837.9) (2,075.9)
AUTOZONE INC AZOEUR EU 15,315.9 (3,837.9) (2,075.9)
AUTOZONE INC AZ5 QT 15,315.9 (3,837.9) (2,075.9)
AUTOZONE INC AZO AV 15,315.9 (3,837.9) (2,075.9)
AUTOZONE INC AZ5 TE 15,315.9 (3,837.9) (2,075.9)
AUTOZONE INC AZO* MM 15,315.9 (3,837.9) (2,075.9)
AUTOZONE INC AZOEUR EZ 15,315.9 (3,837.9) (2,075.9)
AUTOZONE INC AZ5 GZ 15,315.9 (3,837.9) (2,075.9)
AUTOZONE INC AZO-RM RM 15,315.9 (3,837.9) (2,075.9)
AUTOZONE INC-BDR AZOI34 BZ 15,315.9 (3,837.9) (2,075.9)
AVID TECHNOLOGY AVID US 237.5 (141.4) (22.4)
AVID TECHNOLOGY AVD GR 237.5 (141.4) (22.4)
AVID TECHNOLOGY AVD TH 237.5 (141.4) (22.4)
AVID TECHNOLOGY AVD GZ 237.5 (141.4) (22.4)
AVIS BUD-CEDEAR CAR AR 25,197.0 (507.0) (770.0)
AVIS BUDGET GROU CUCA GR 25,197.0 (507.0) (770.0)
AVIS BUDGET GROU CAR US 25,197.0 (507.0) (770.0)
AVIS BUDGET GROU CUCA QT 25,197.0 (507.0) (770.0)
AVIS BUDGET GROU CAR2EUR EU 25,197.0 (507.0) (770.0)
AVIS BUDGET GROU CAR* MM 25,197.0 (507.0) (770.0)
AVIS BUDGET GROU CAR2EUR EZ 25,197.0 (507.0) (770.0)
AVIS BUDGET GROU CUCA TH 25,197.0 (507.0) (770.0)
AVIS BUDGET GROU CUCA GZ 25,197.0 (507.0) (770.0)
BABCOCK & WILCOX BW US 881.6 (17.1) 179.1
BABCOCK & WILCOX UBW1 GR 881.6 (17.1) 179.1
BABCOCK & WILCOX BWEUR EU 881.6 (17.1) 179.1
BATH & BODY WORK LTD0 GR 5,133.0 (2,608.0) 496.0
BATH & BODY WORK LTD0 TH 5,133.0 (2,608.0) 496.0
BATH & BODY WORK BBWI US 5,133.0 (2,608.0) 496.0
BATH & BODY WORK LBEUR EU 5,133.0 (2,608.0) 496.0
BATH & BODY WORK BBWI* MM 5,133.0 (2,608.0) 496.0
BATH & BODY WORK LTD0 QT 5,133.0 (2,608.0) 496.0
BATH & BODY WORK BBWI AV 5,133.0 (2,608.0) 496.0
BATH & BODY WORK LBEUR EZ 5,133.0 (2,608.0) 496.0
BATH & BODY WORK LTD0 GZ 5,133.0 (2,608.0) 496.0
BATH & BODY WORK BBWI-RM RM 5,133.0 (2,608.0) 496.0
BATTERY FUTURE A BFAC/U US 354.9 350.4 0.2
BATTERY FUTURE-A BFAC US 354.9 350.4 0.2
BED BATH &BEYOND BBBY* MM 4,666.6 (577.7) 75.7
BED BATH &BEYOND BBBY SW 4,666.6 (577.7) 75.7
BED BATH &BEYOND BBBY-RM RM 4,666.6 (577.7) 75.7
BELLRING BRANDS BRBR US 707.2 (376.2) 277.8
BELLRING BRANDS D51 TH 707.2 (376.2) 277.8
BELLRING BRANDS BRBR2EUR EU 707.2 (376.2) 277.8
BELLRING BRANDS D51 GR 707.2 (376.2) 277.8
BELLRING BRANDS D51 QT 707.2 (376.2) 277.8
BENEFITFOCUS INC BNFT US 233.7 (24.9) 30.0
BENEFITFOCUS INC BTF GR 233.7 (24.9) 30.0
BENEFITFOCUS INC BNFTEUR EU 233.7 (24.9) 30.0
BEYOND MEAT INC BYND US 1,141.3 (142.0) 605.3
BEYOND MEAT INC 0Q3 GR 1,141.3 (142.0) 605.3
BEYOND MEAT INC 0Q3 GZ 1,141.3 (142.0) 605.3
BEYOND MEAT INC BYNDEUR EU 1,141.3 (142.0) 605.3
BEYOND MEAT INC 0Q3 TH 1,141.3 (142.0) 605.3
BEYOND MEAT INC 0Q3 QT 1,141.3 (142.0) 605.3
BEYOND MEAT INC BYND AV 1,141.3 (142.0) 605.3
BEYOND MEAT INC 0Q3 SW 1,141.3 (142.0) 605.3
BEYOND MEAT INC 0A20 LI 1,141.3 (142.0) 605.3
BEYOND MEAT INC BYNDEUR EZ 1,141.3 (142.0) 605.3
BEYOND MEAT INC 0Q3 TE 1,141.3 (142.0) 605.3
BEYOND MEAT INC BYND* MM 1,141.3 (142.0) 605.3
BEYOND MEAT INC B2YN34 BZ 1,141.3 (142.0) 605.3
BEYOND MEAT INC BYND-RM RM 1,141.3 (142.0) 605.3
BIOCRYST PHARM BO1 TH 558.6 (242.7) 427.4
BIOCRYST PHARM BCRX US 558.6 (242.7) 427.4
BIOCRYST PHARM BO1 GR 558.6 (242.7) 427.4
BIOCRYST PHARM BO1 QT 558.6 (242.7) 427.4
BIOCRYST PHARM BCRXEUR EU 558.6 (242.7) 427.4
BIOCRYST PHARM BO1 SW 558.6 (242.7) 427.4
BIOCRYST PHARM BCRX* MM 558.6 (242.7) 427.4
BIOCRYST PHARM BCRXEUR EZ 558.6 (242.7) 427.4
BIOTE CORP-A BTMD US 109.6 (109.9) 78.4
BLACK MOUNTAIN A BMAC/U US 283.4 (9.5) 0.0
BLACK MOUNTAIN-A BMAC US 283.4 (9.5) 0.0
BOEING CO-BDR BOEI34 BZ 137,558 (17,635) 19,633.0
BOEING CO-CED BA AR 137,558 (17,635) 19,633.0
BOEING CO-CED BAD AR 137,558 (17,635) 19,633.0
BOEING CO/THE BA EU 137,558 (17,635) 19,633.0
BOEING CO/THE BCO GR 137,558 (17,635) 19,633.0
BOEING CO/THE BAEUR EU 137,558 (17,635) 19,633.0
BOEING CO/THE BA TE 137,558 (17,635) 19,633.0
BOEING CO/THE BA* MM 137,558 (17,635) 19,633.0
BOEING CO/THE BA SW 137,558 (17,635) 19,633.0
BOEING CO/THE BOEI BB 137,558 (17,635) 19,633.0
BOEING CO/THE BA US 137,558 (17,635) 19,633.0
BOEING CO/THE BCO TH 137,558 (17,635) 19,633.0
BOEING CO/THE BA PE 137,558 (17,635) 19,633.0
BOEING CO/THE BOE LN 137,558 (17,635) 19,633.0
BOEING CO/THE BA CI 137,558 (17,635) 19,633.0
BOEING CO/THE BCO QT 137,558 (17,635) 19,633.0
BOEING CO/THE BAUSD SW 137,558 (17,635) 19,633.0
BOEING CO/THE BCO GZ 137,558 (17,635) 19,633.0
BOEING CO/THE BA AV 137,558 (17,635) 19,633.0
BOEING CO/THE BA-RM RM 137,558 (17,635) 19,633.0
BOEING CO/THE BAEUR EZ 137,558 (17,635) 19,633.0
BOEING CO/THE BA EZ 137,558 (17,635) 19,633.0
BOEING CO/THE BACL CI 137,558 (17,635) 19,633.0
BOEING CO/THE BA_KZ KZ 137,558 (17,635) 19,633.0
BOMBARDIER INC-A BBD/A CN 12,468.0 (3,289.0) 585.0
BOMBARDIER INC-A BDRAF US 12,468.0 (3,289.0) 585.0
BOMBARDIER INC-A BBD GR 12,468.0 (3,289.0) 585.0
BOMBARDIER INC-A BBD/AEUR EU 12,468.0 (3,289.0) 585.0
BOMBARDIER INC-A BBD GZ 12,468.0 (3,289.0) 585.0
BOMBARDIER INC-B BBD/B CN 12,468.0 (3,289.0) 585.0
BOMBARDIER INC-B BBDC GR 12,468.0 (3,289.0) 585.0
BOMBARDIER INC-B BDRBF US 12,468.0 (3,289.0) 585.0
BOMBARDIER INC-B BBDC TH 12,468.0 (3,289.0) 585.0
BOMBARDIER INC-B BBDBN MM 12,468.0 (3,289.0) 585.0
BOMBARDIER INC-B BBD/BEUR EU 12,468.0 (3,289.0) 585.0
BOMBARDIER INC-B BBDC GZ 12,468.0 (3,289.0) 585.0
BOMBARDIER INC-B BBD/BEUR EZ 12,468.0 (3,289.0) 585.0
BOMBARDIER INC-B BBDC QT 12,468.0 (3,289.0) 585.0
BOX INC- CLASS A BOX US 1,056.4 (78.2) 59.1
BOX INC- CLASS A 3BX GR 1,056.4 (78.2) 59.1
BOX INC- CLASS A 3BX TH 1,056.4 (78.2) 59.1
BOX INC- CLASS A 3BX QT 1,056.4 (78.2) 59.1
BOX INC- CLASS A BOXEUR EU 1,056.4 (78.2) 59.1
BOX INC- CLASS A BOXEUR EZ 1,056.4 (78.2) 59.1
BOX INC- CLASS A 3BX GZ 1,056.4 (78.2) 59.1
BOX INC- CLASS A BOX-RM RM 1,056.4 (78.2) 59.1
BRIDGEBIO PHARMA BBIO US 728.7 (1,130.4) 523.0
BRIDGEBIO PHARMA 2CL GR 728.7 (1,130.4) 523.0
BRIDGEBIO PHARMA 2CL GZ 728.7 (1,130.4) 523.0
BRIDGEBIO PHARMA BBIOEUR EU 728.7 (1,130.4) 523.0
BRIDGEBIO PHARMA 2CL TH 728.7 (1,130.4) 523.0
BRIGHTSPHERE INV BSIG US 474.7 (55.1) -
BRIGHTSPHERE INV 2B9 GR 474.7 (55.1) -
BRIGHTSPHERE INV BSIGEUR EU 474.7 (55.1) -
BRIGHTSPHERE INV 2B9 GZ 474.7 (55.1) -
BRINKER INTL EAT US 2,493.8 (296.6) (363.8)
BRINKER INTL BKJ GR 2,493.8 (296.6) (363.8)
BRINKER INTL BKJ QT 2,493.8 (296.6) (363.8)
BRINKER INTL EAT2EUR EU 2,493.8 (296.6) (363.8)
BRINKER INTL BKJ TH 2,493.8 (296.6) (363.8)
BROOKFIELD INF-A BIPC CN 10,034.0 (1,078.0) (4,698.0)
BROOKFIELD INF-A BIPC US 10,034.0 (1,078.0) (4,698.0)
CALUMET SPECIALT CLMT US 2,568.7 (265.4) (536.5)
CARDINAL HEA BDR C1AH34 BZ 43,387.0 (1,780.0) 1,137.0
CARDINAL HEALTH CAH US 43,387.0 (1,780.0) 1,137.0
CARDINAL HEALTH CLH GR 43,387.0 (1,780.0) 1,137.0
CARDINAL HEALTH CLH TH 43,387.0 (1,780.0) 1,137.0
CARDINAL HEALTH CLH QT 43,387.0 (1,780.0) 1,137.0
CARDINAL HEALTH CAHEUR EU 43,387.0 (1,780.0) 1,137.0
CARDINAL HEALTH CLH GZ 43,387.0 (1,780.0) 1,137.0
CARDINAL HEALTH CAH* MM 43,387.0 (1,780.0) 1,137.0
CARDINAL HEALTH CAHEUR EZ 43,387.0 (1,780.0) 1,137.0
CARDINAL HEALTH CAH-RM RM 43,387.0 (1,780.0) 1,137.0
CARDINAL-CEDEAR CAH AR 43,387.0 (1,780.0) 1,137.0
CARDINAL-CEDEAR CAHC AR 43,387.0 (1,780.0) 1,137.0
CARDINAL-CEDEAR CAHD AR 43,387.0 (1,780.0) 1,137.0
CEDAR FAIR LP FUN US 2,414.5 (470.8) (22.5)
CENTRUS ENERGY-A LEU US 618.2 (100.3) 111.0
CENTRUS ENERGY-A 4CU TH 618.2 (100.3) 111.0
CENTRUS ENERGY-A 4CU GR 618.2 (100.3) 111.0
CENTRUS ENERGY-A LEUEUR EU 618.2 (100.3) 111.0
CENTRUS ENERGY-A 4CU GZ 618.2 (100.3) 111.0
CENTRUS ENERGY-A 4CU QT 618.2 (100.3) 111.0
CHENIERE ENERGY LNG US 43,642.0 (4,330.0) (2,169.0)
CHENIERE ENERGY CHQ1 GR 43,642.0 (4,330.0) (2,169.0)
CHENIERE ENERGY CQP US 20,500.0 (3,884.0) (1,210.0)
CHENIERE ENERGY CHQ1 TH 43,642.0 (4,330.0) (2,169.0)
CHENIERE ENERGY CHQ1 QT 43,642.0 (4,330.0) (2,169.0)
CHENIERE ENERGY LNG2EUR EU 43,642.0 (4,330.0) (2,169.0)
CHENIERE ENERGY LNG* MM 43,642.0 (4,330.0) (2,169.0)
CHENIERE ENERGY CHQ1 SW 43,642.0 (4,330.0) (2,169.0)
CHENIERE ENERGY LNG2EUR EZ 43,642.0 (4,330.0) (2,169.0)
CHENIERE ENERGY CHQ1 GZ 43,642.0 (4,330.0) (2,169.0)
CINEPLEX INC CGX CN 2,089.7 (222.0) (293.3)
CINEPLEX INC CX0 GR 2,089.7 (222.0) (293.3)
CINEPLEX INC CPXGF US 2,089.7 (222.0) (293.3)
CINEPLEX INC CX0 TH 2,089.7 (222.0) (293.3)
CINEPLEX INC CGXEUR EU 2,089.7 (222.0) (293.3)
CINEPLEX INC CGXN MM 2,089.7 (222.0) (293.3)
CINEPLEX INC CX0 GZ 2,089.7 (222.0) (293.3)
COGENT COMMUNICA CCOI US 1,020.7 (491.8) 291.9
COGENT COMMUNICA OGM1 GR 1,020.7 (491.8) 291.9
COGENT COMMUNICA CCOIEUR EU 1,020.7 (491.8) 291.9
COGENT COMMUNICA CCOI* MM 1,020.7 (491.8) 291.9
COHERUS BIOSCIEN CHRS US 550.9 (97.1) 277.0
COHERUS BIOSCIEN 8C5 GR 550.9 (97.1) 277.0
COHERUS BIOSCIEN 8C5 TH 550.9 (97.1) 277.0
COHERUS BIOSCIEN CHRSEUR EU 550.9 (97.1) 277.0
COHERUS BIOSCIEN 8C5 QT 550.9 (97.1) 277.0
COHERUS BIOSCIEN CHRSEUR EZ 550.9 (97.1) 277.0
COHERUS BIOSCIEN 8C5 GZ 550.9 (97.1) 277.0
COMMUNITY HEALTH CYH US 14,914.0 (1,178.0) 886.0
COMMUNITY HEALTH CG5 GR 14,914.0 (1,178.0) 886.0
COMMUNITY HEALTH CG5 TH 14,914.0 (1,178.0) 886.0
COMMUNITY HEALTH CG5 QT 14,914.0 (1,178.0) 886.0
COMMUNITY HEALTH CYH1EUR EU 14,914.0 (1,178.0) 886.0
COMMUNITY HEALTH CYH1EUR EZ 14,914.0 (1,178.0) 886.0
COMMUNITY HEALTH CG5 GZ 14,914.0 (1,178.0) 886.0
COMPOSECURE INC CMPO US 169.8 (324.8) 36.2
CONSENSUS CLOUD CCSI US 627.4 (289.7) 43.7
CPI CARD GROUP I PMTS US 305.0 (94.3) 112.7
CPI CARD GROUP I CPB1 GR 305.0 (94.3) 112.7
CPI CARD GROUP I PMTSEUR EU 305.0 (94.3) 112.7
CTI BIOPHARMA CO CEPS QT 123.5 (16.8) 77.6
CTI BIOPHARMA CO CTIC US 123.5 (16.8) 77.6
CTI BIOPHARMA CO CEPS GR 123.5 (16.8) 77.6
CTI BIOPHARMA CO CTIC1EUR EZ 123.5 (16.8) 77.6
CTI BIOPHARMA CO CTIC1EUR EU 123.5 (16.8) 77.6
CTI BIOPHARMA CO CEPS TH 123.5 (16.8) 77.6
CYTOKINETICS INC CYTK US 1,076.0 (16.0) 807.8
CYTOKINETICS INC KK3A GR 1,076.0 (16.0) 807.8
CYTOKINETICS INC KK3A QT 1,076.0 (16.0) 807.8
CYTOKINETICS INC CYTKEUR EU 1,076.0 (16.0) 807.8
CYTOKINETICS INC KK3A TH 1,076.0 (16.0) 807.8
DELEK LOGISTICS DKL US 1,638.2 (114.3) (192.7)
DELL TECHN-C DELL US 85,172.0 (3,368.0) (13,220)
DELL TECHN-C 12DA TH 85,172.0 (3,368.0) (13,220)
DELL TECHN-C 12DA GR 85,172.0 (3,368.0) (13,220)
DELL TECHN-C 12DA GZ 85,172.0 (3,368.0) (13,220)
DELL TECHN-C DELL1EUR EU 85,172.0 (3,368.0) (13,220)
DELL TECHN-C DELLC* MM 85,172.0 (3,368.0) (13,220)
DELL TECHN-C 12DA QT 85,172.0 (3,368.0) (13,220)
DELL TECHN-C DELL AV 85,172.0 (3,368.0) (13,220)
DELL TECHN-C DELL1EUR EZ 85,172.0 (3,368.0) (13,220)
DELL TECHN-C DELL-RM RM 85,172.0 (3,368.0) (13,220)
DELL TECHN-C-BDR D1EL34 BZ 85,172.0 (3,368.0) (13,220)
DENNY'S CORP DE8 GR 497.7 (44.6) (42.3)
DENNY'S CORP DENN US 497.7 (44.6) (42.3)
DENNY'S CORP DENNEUR EU 497.7 (44.6) (42.3)
DENNY'S CORP DE8 TH 497.7 (44.6) (42.3)
DENNY'S CORP DE8 GZ 497.7 (44.6) (42.3)
DIEBOLD NIXDORF DBD SW 2,907.4 (1,317.7) (2,223.6)
DINE BRANDS GLOB DIN US 1,972.0 (301.6) 126.7
DINE BRANDS GLOB IHP GR 1,972.0 (301.6) 126.7
DINE BRANDS GLOB IHP TH 1,972.0 (301.6) 126.7
DINE BRANDS GLOB IHP GZ 1,972.0 (301.6) 126.7
DIVERSIFIED ENER DEC LN - - -
DIVERSIFIED ENER DGOCGBX EU - - -
DIVERSIFIED ENER DECL PO - - -
DIVERSIFIED ENER DECL L3 - - -
DIVERSIFIED ENER DECL B3 - - -
DIVERSIFIED ENER DECL TQ - - -
DIVERSIFIED ENER DGOCGBX EP - - -
DIVERSIFIED ENER DGOCGBX EZ - - -
DIVERSIFIED ENER DECL IX - - -
DIVERSIFIED ENER DECL EB - - -
DIVERSIFIED ENER DECL QX - - -
DIVERSIFIED ENER DECL BQ - - -
DIVERSIFIED ENER DECL S1 - - -
DOMINO'S P - BDR D2PZ34 BZ 1,646.4 (4,316.5) 247.7
DOMINO'S PIZZA EZV TH 1,646.4 (4,316.5) 247.7
DOMINO'S PIZZA EZV GR 1,646.4 (4,316.5) 247.7
DOMINO'S PIZZA DPZ US 1,646.4 (4,316.5) 247.7
DOMINO'S PIZZA EZV QT 1,646.4 (4,316.5) 247.7
DOMINO'S PIZZA DPZEUR EU 1,646.4 (4,316.5) 247.7
DOMINO'S PIZZA DPZ AV 1,646.4 (4,316.5) 247.7
DOMINO'S PIZZA DPZ* MM 1,646.4 (4,316.5) 247.7
DOMINO'S PIZZA EZV GZ 1,646.4 (4,316.5) 247.7
DOMINO'S PIZZA DPZEUR EZ 1,646.4 (4,316.5) 247.7
DOMINO'S PIZZA DPZ-RM RM 1,646.4 (4,316.5) 247.7
DOMO INC- CL B DOMO US 217.3 (146.1) (78.7)
DOMO INC- CL B 1ON GR 217.3 (146.1) (78.7)
DOMO INC- CL B 1ON GZ 217.3 (146.1) (78.7)
DOMO INC- CL B DOMOEUR EU 217.3 (146.1) (78.7)
DOMO INC- CL B 1ON TH 217.3 (146.1) (78.7)
DROPBOX INC-A DBX US 2,702.8 (591.3) 423.3
DROPBOX INC-A 1Q5 GR 2,702.8 (591.3) 423.3
DROPBOX INC-A 1Q5 SW 2,702.8 (591.3) 423.3
DROPBOX INC-A 1Q5 TH 2,702.8 (591.3) 423.3
DROPBOX INC-A 1Q5 QT 2,702.8 (591.3) 423.3
DROPBOX INC-A DBXEUR EU 2,702.8 (591.3) 423.3
DROPBOX INC-A DBX AV 2,702.8 (591.3) 423.3
DROPBOX INC-A DBX* MM 2,702.8 (591.3) 423.3
DROPBOX INC-A DBXEUR EZ 2,702.8 (591.3) 423.3
DROPBOX INC-A 1Q5 GZ 2,702.8 (591.3) 423.3
DROPBOX INC-A DBX-RM RM 2,702.8 (591.3) 423.3
EMBECTA CORP EMBC US 1,086.4 (891.4) 363.7
EMBECTA CORP EMBC* MM 1,086.4 (891.4) 363.7
EMBECTA CORP JX7 GR 1,086.4 (891.4) 363.7
EMBECTA CORP JX7 QT 1,086.4 (891.4) 363.7
EMBECTA CORP EMBC1EUR EZ 1,086.4 (891.4) 363.7
EMBECTA CORP EMBC1EUR EU 1,086.4 (891.4) 363.7
EMBECTA CORP JX7 GZ 1,086.4 (891.4) 363.7
EMBECTA CORP JX7 TH 1,086.4 (891.4) 363.7
ESPERION THERAPE ESPR US 312.8 (294.1) 179.4
ESPERION THERAPE 0ET GR 312.8 (294.1) 179.4
ESPERION THERAPE 0ET TH 312.8 (294.1) 179.4
ESPERION THERAPE ESPREUR EU 312.8 (294.1) 179.4
ESPERION THERAPE 0ET QT 312.8 (294.1) 179.4
ESPERION THERAPE 0ET GZ 312.8 (294.1) 179.4
ETSY INC ETSY US 2,450.3 (606.2) 854.9
ETSY INC 3E2 GR 2,450.3 (606.2) 854.9
ETSY INC 3E2 TH 2,450.3 (606.2) 854.9
ETSY INC 3E2 QT 2,450.3 (606.2) 854.9
ETSY INC 2E2 GZ 2,450.3 (606.2) 854.9
ETSY INC ETSY AV 2,450.3 (606.2) 854.9
ETSY INC ETSYEUR EZ 2,450.3 (606.2) 854.9
ETSY INC ETSY* MM 2,450.3 (606.2) 854.9
ETSY INC ETSY-RM RM 2,450.3 (606.2) 854.9
ETSY INC - BDR E2TS34 BZ 2,450.3 (606.2) 854.9
ETSY INC - CEDEA ETSY AR 2,450.3 (606.2) 854.9
FAIR ISAAC - BDR F2IC34 BZ 1,442.0 (801.9) 153.3
FAIR ISAAC CORP FRI GR 1,442.0 (801.9) 153.3
FAIR ISAAC CORP FICO US 1,442.0 (801.9) 153.3
FAIR ISAAC CORP FICOEUR EU 1,442.0 (801.9) 153.3
FAIR ISAAC CORP FRI QT 1,442.0 (801.9) 153.3
FAIR ISAAC CORP FICOEUR EZ 1,442.0 (801.9) 153.3
FAIR ISAAC CORP FICO1* MM 1,442.0 (801.9) 153.3
FAIR ISAAC CORP FRI GZ 1,442.0 (801.9) 153.3
FERRELLGAS PAR-B FGPRB US 1,537.6 (305.7) 116.2
FERRELLGAS-LP FGPR US 1,537.6 (305.7) 116.2
FORTINET INC FTNT US 5,335.9 (622.8) 202.6
FORTINET INC FO8 TH 5,335.9 (622.8) 202.6
FORTINET INC FO8 GR 5,335.9 (622.8) 202.6
FORTINET INC FTNTEUR EU 5,335.9 (622.8) 202.6
FORTINET INC FO8 QT 5,335.9 (622.8) 202.6
FORTINET INC FO8 SW 5,335.9 (622.8) 202.6
FORTINET INC FTNT* MM 5,335.9 (622.8) 202.6
FORTINET INC FTNTEUR EZ 5,335.9 (622.8) 202.6
FORTINET INC FO8 GZ 5,335.9 (622.8) 202.6
FORTINET INC FTNT-RM RM 5,335.9 (622.8) 202.6
FORTINET INC FTNT_KZ KZ 5,335.9 (622.8) 202.6
FORTINET INC-BDR F1TN34 BZ 5,335.9 (622.8) 202.6
GARTNER INC GGRA GR 6,526.0 (64.9) (1,105.6)
GARTNER INC IT US 6,526.0 (64.9) (1,105.6)
GARTNER INC GGRA GZ 6,526.0 (64.9) (1,105.6)
GARTNER INC GGRA TH 6,526.0 (64.9) (1,105.6)
GARTNER INC IT1EUR EU 6,526.0 (64.9) (1,105.6)
GARTNER INC GGRA QT 6,526.0 (64.9) (1,105.6)
GARTNER INC IT1EUR EZ 6,526.0 (64.9) (1,105.6)
GARTNER INC IT-RM RM 6,526.0 (64.9) (1,105.6)
GARTNER-BDR G1AR34 BZ 6,526.0 (64.9) (1,105.6)
GCM GROSVENOR-A GCMG US 549.1 (47.0) 158.0
GODADDY INC -BDR G2DD34 BZ 7,072.9 (276.0) (705.7)
GODADDY INC-A GDDY US 7,072.9 (276.0) (705.7)
GODADDY INC-A 38D GR 7,072.9 (276.0) (705.7)
GODADDY INC-A 38D QT 7,072.9 (276.0) (705.7)
GODADDY INC-A GDDY* MM 7,072.9 (276.0) (705.7)
GODADDY INC-A 38D TH 7,072.9 (276.0) (705.7)
GODADDY INC-A 38D GZ 7,072.9 (276.0) (705.7)
GOGO INC GOGO US 728.6 (128.3) 212.5
GOGO INC G0G GR 728.6 (128.3) 212.5
GOGO INC G0G QT 728.6 (128.3) 212.5
GOGO INC GOGOEUR EU 728.6 (128.3) 212.5
GOGO INC G0G TH 728.6 (128.3) 212.5
GOGO INC G0G GZ 728.6 (128.3) 212.5
GOOSEHEAD INSU-A GSHD US 324.0 (45.7) 33.1
GOOSEHEAD INSU-A 2OX GR 324.0 (45.7) 33.1
GOOSEHEAD INSU-A GSHDEUR EU 324.0 (45.7) 33.1
GOOSEHEAD INSU-A 2OX TH 324.0 (45.7) 33.1
GOOSEHEAD INSU-A 2OX QT 324.0 (45.7) 33.1
H&R BLOCK - BDR H1RB34 BZ 2,559.2 (265.0) (65.8)
H&R BLOCK INC HRB US 2,559.2 (265.0) (65.8)
H&R BLOCK INC HRB GR 2,559.2 (265.0) (65.8)
H&R BLOCK INC HRB TH 2,559.2 (265.0) (65.8)
H&R BLOCK INC HRB QT 2,559.2 (265.0) (65.8)
H&R BLOCK INC HRBEUR EU 2,559.2 (265.0) (65.8)
H&R BLOCK INC HRBEUR EZ 2,559.2 (265.0) (65.8)
H&R BLOCK INC HRB GZ 2,559.2 (265.0) (65.8)
H&R BLOCK INC HRB-RM RM 2,559.2 (265.0) (65.8)
HCA HEALTHC-BDR H1CA34 BZ 51,484.0 (778.0) 3,697.0
HCA HEALTHCARE I 2BH GR 51,484.0 (778.0) 3,697.0
HCA HEALTHCARE I HCA US 51,484.0 (778.0) 3,697.0
HCA HEALTHCARE I 2BH TH 51,484.0 (778.0) 3,697.0
HCA HEALTHCARE I 2BH QT 51,484.0 (778.0) 3,697.0
HCA HEALTHCARE I HCAEUR EU 51,484.0 (778.0) 3,697.0
HCA HEALTHCARE I HCA* MM 51,484.0 (778.0) 3,697.0
HCA HEALTHCARE I 2BH TE 51,484.0 (778.0) 3,697.0
HCA HEALTHCARE I HCAEUR EZ 51,484.0 (778.0) 3,697.0
HCA HEALTHCARE I 2BH GZ 51,484.0 (778.0) 3,697.0
HCA HEALTHCARE I HCA-RM RM 51,484.0 (778.0) 3,697.0
HCM ACQUISITI-A HCMA US 295.2 276.9 1.0
HCM ACQUISITION HCMAU US 295.2 276.9 1.0
HERBALIFE NUTRIT HOO GR 2,725.1 (1,361.9) 398.2
HERBALIFE NUTRIT HLF US 2,725.1 (1,361.9) 398.2
HERBALIFE NUTRIT HLFEUR EU 2,725.1 (1,361.9) 398.2
HERBALIFE NUTRIT HOO QT 2,725.1 (1,361.9) 398.2
HERBALIFE NUTRIT HOO GZ 2,725.1 (1,361.9) 398.2
HERBALIFE NUTRIT HOO SW 2,725.1 (1,361.9) 398.2
HERBALIFE NUTRIT HLFEUR EZ 2,725.1 (1,361.9) 398.2
HERBALIFE NUTRIT HOO TH 2,725.1 (1,361.9) 398.2
HEWLETT-CEDEAR HPQD AR 38,587.0 (2,918.0) (6,352.0)
HEWLETT-CEDEAR HPQC AR 38,587.0 (2,918.0) (6,352.0)
HEWLETT-CEDEAR HPQ AR 38,587.0 (2,918.0) (6,352.0)
HILLEVAX INC HLVX US 322.1 287.2 291.5
HILTON WORLD-BDR H1LT34 BZ 15,508.0 (914.0) (389.0)
HILTON WORLDWIDE HLT US 15,508.0 (914.0) (389.0)
HILTON WORLDWIDE HI91 TH 15,508.0 (914.0) (389.0)
HILTON WORLDWIDE HI91 GR 15,508.0 (914.0) (389.0)
HILTON WORLDWIDE HI91 QT 15,508.0 (914.0) (389.0)
HILTON WORLDWIDE HLTEUR EU 15,508.0 (914.0) (389.0)
HILTON WORLDWIDE HLT* MM 15,508.0 (914.0) (389.0)
HILTON WORLDWIDE HI91 TE 15,508.0 (914.0) (389.0)
HILTON WORLDWIDE HLTEUR EZ 15,508.0 (914.0) (389.0)
HILTON WORLDWIDE HLTW AV 15,508.0 (914.0) (389.0)
HILTON WORLDWIDE HI91 GZ 15,508.0 (914.0) (389.0)
HILTON WORLDWIDE HLT-RM RM 15,508.0 (914.0) (389.0)
HORIZON ACQUIS-A HZON US 528.3 (20.7) (4.5)
HORIZON ACQUISIT HZON/U US 528.3 (20.7) (4.5)
HP COMPANY-BDR HPQB34 BZ 38,587.0 (2,918.0) (6,352.0)
HP INC HPQ* MM 38,587.0 (2,918.0) (6,352.0)
HP INC HPQ US 38,587.0 (2,918.0) (6,352.0)
HP INC 7HP TH 38,587.0 (2,918.0) (6,352.0)
HP INC 7HP GR 38,587.0 (2,918.0) (6,352.0)
HP INC HPQ TE 38,587.0 (2,918.0) (6,352.0)
HP INC HPQ CI 38,587.0 (2,918.0) (6,352.0)
HP INC HPQ SW 38,587.0 (2,918.0) (6,352.0)
HP INC 7HP QT 38,587.0 (2,918.0) (6,352.0)
HP INC HPQUSD SW 38,587.0 (2,918.0) (6,352.0)
HP INC HPQEUR EU 38,587.0 (2,918.0) (6,352.0)
HP INC 7HP GZ 38,587.0 (2,918.0) (6,352.0)
HP INC HPQ AV 38,587.0 (2,918.0) (6,352.0)
HP INC HPQEUR EZ 38,587.0 (2,918.0) (6,352.0)
HP INC HPQ-RM RM 38,587.0 (2,918.0) (6,352.0)
HP INC HPQCL CI 38,587.0 (2,918.0) (6,352.0)
IMMUNITYBIO INC IBRX US 352.9 (429.1) 72.3
IMMUNITYBIO INC 26CA GR 352.9 (429.1) 72.3
IMMUNITYBIO INC 26CA TH 352.9 (429.1) 72.3
IMMUNITYBIO INC NK1EUR EU 352.9 (429.1) 72.3
IMMUNITYBIO INC 26CA GZ 352.9 (429.1) 72.3
IMMUNITYBIO INC NK1EUR EZ 352.9 (429.1) 72.3
IMMUNITYBIO INC 26CA QT 352.9 (429.1) 72.3
INHIBRX INC INBX US 164.9 (35.1) 128.3
INHIBRX INC 1RK GR 164.9 (35.1) 128.3
INHIBRX INC 1RK TH 164.9 (35.1) 128.3
INHIBRX INC INBXEUR EU 164.9 (35.1) 128.3
INHIBRX INC 1RK QT 164.9 (35.1) 128.3
INHIBRX INC INBXEUR EZ 164.9 (35.1) 128.3
INSEEGO CORP INSG-RM RM 184.4 (55.8) 29.0
INSMED INC INSM US 994.8 (30.0) 494.5
INSMED INC IM8N GR 994.8 (30.0) 494.5
INSMED INC IM8N TH 994.8 (30.0) 494.5
INSMED INC INSMEUR EU 994.8 (30.0) 494.5
INSMED INC INSM* MM 994.8 (30.0) 494.5
INSPIRED ENTERTA INSE US 286.6 (50.6) 50.8
INSPIRED ENTERTA 4U8 GR 286.6 (50.6) 50.8
INSPIRED ENTERTA INSEEUR EU 286.6 (50.6) 50.8
J. JILL INC JILL US 489.4 (2.0) 35.9
J. JILL INC 1MJ1 GR 489.4 (2.0) 35.9
J. JILL INC JILLEUR EU 489.4 (2.0) 35.9
J. JILL INC 1MJ1 GZ 489.4 (2.0) 35.9
JACK IN THE BOX JBX GR 2,922.5 (736.2) (238.7)
JACK IN THE BOX JACK US 2,922.5 (736.2) (238.7)
JACK IN THE BOX JACK1EUR EU 2,922.5 (736.2) (238.7)
JACK IN THE BOX JBX GZ 2,922.5 (736.2) (238.7)
JACK IN THE BOX JBX QT 2,922.5 (736.2) (238.7)
KARYOPHARM THERA KPTI US 231.2 (140.3) 160.9
KARYOPHARM THERA 25K GR 231.2 (140.3) 160.9
KARYOPHARM THERA KPTIEUR EU 231.2 (140.3) 160.9
KARYOPHARM THERA 25K TH 231.2 (140.3) 160.9
KARYOPHARM THERA 25K GZ 231.2 (140.3) 160.9
KARYOPHARM THERA 25K QT 231.2 (140.3) 160.9
KLX ENERGY SERVI KLXE US 440.1 (55.9) 68.5
KLX ENERGY SERVI KX4A GR 440.1 (55.9) 68.5
KLX ENERGY SERVI KLXEEUR EU 440.1 (55.9) 68.5
KLX ENERGY SERVI KX4A TH 440.1 (55.9) 68.5
KLX ENERGY SERVI KX4A GZ 440.1 (55.9) 68.5
L BRANDS INC-BDR B1BW34 BZ 5,133.0 (2,608.0) 496.0
LATAMGROWTH SPAC LATGU US 134.9 127.1 1.2
LATAMGROWTH SPAC LATG US 134.9 127.1 1.2
LENNOX INTL INC LXI GR 2,625.8 (305.2) 662.4
LENNOX INTL INC LII US 2,625.8 (305.2) 662.4
LENNOX INTL INC LII1EUR EU 2,625.8 (305.2) 662.4
LENNOX INTL INC LXI TH 2,625.8 (305.2) 662.4
LENNOX INTL INC LII* MM 2,625.8 (305.2) 662.4
LESLIE'S INC LESL US 1,109.6 (198.0) 194.4
LESLIE'S INC LE3 GR 1,109.6 (198.0) 194.4
LESLIE'S INC LESLEUR EU 1,109.6 (198.0) 194.4
LESLIE'S INC LE3 TH 1,109.6 (198.0) 194.4
LESLIE'S INC LE3 QT 1,109.6 (198.0) 194.4
LINDBLAD EXPEDIT LIND US 811.5 (55.1) (126.4)
LINDBLAD EXPEDIT LI4 GR 811.5 (55.1) (126.4)
LINDBLAD EXPEDIT LINDEUR EU 811.5 (55.1) (126.4)
LINDBLAD EXPEDIT LI4 TH 811.5 (55.1) (126.4)
LINDBLAD EXPEDIT LI4 QT 811.5 (55.1) (126.4)
LINDBLAD EXPEDIT LI4 GZ 811.5 (55.1) (126.4)
LOWE'S COS INC LWE GR 46,973.0 (12,868) 4,115.0
LOWE'S COS INC LOW US 46,973.0 (12,868) 4,115.0
LOWE'S COS INC LWE TH 46,973.0 (12,868) 4,115.0
LOWE'S COS INC LOW SW 46,973.0 (12,868) 4,115.0
LOWE'S COS INC LWE QT 46,973.0 (12,868) 4,115.0
LOWE'S COS INC LOWEUR EU 46,973.0 (12,868) 4,115.0
LOWE'S COS INC LWE GZ 46,973.0 (12,868) 4,115.0
LOWE'S COS INC LOW* MM 46,973.0 (12,868) 4,115.0
LOWE'S COS INC LWE TE 46,973.0 (12,868) 4,115.0
LOWE'S COS INC LOWE AV 46,973.0 (12,868) 4,115.0
LOWE'S COS INC LOWEUR EZ 46,973.0 (12,868) 4,115.0
LOWE'S COS INC LOW-RM RM 46,973.0 (12,868) 4,115.0
LOWE'S COS-BDR LOWC34 BZ 46,973.0 (12,868) 4,115.0
MADISON SQUARE G MSGS US 1,345.9 (171.9) (302.1)
MADISON SQUARE G MS8 GR 1,345.9 (171.9) (302.1)
MADISON SQUARE G MSG1EUR EU 1,345.9 (171.9) (302.1)
MADISON SQUARE G MS8 TH 1,345.9 (171.9) (302.1)
MADISON SQUARE G MS8 QT 1,345.9 (171.9) (302.1)
MADISON SQUARE G MS8 GZ 1,345.9 (171.9) (302.1)
MANNKIND CORP NNFN GR 293.8 (237.7) 158.8
MANNKIND CORP MNKD US 293.8 (237.7) 158.8
MANNKIND CORP NNFN TH 293.8 (237.7) 158.8
MANNKIND CORP NNFN QT 293.8 (237.7) 158.8
MANNKIND CORP MNKDEUR EU 293.8 (237.7) 158.8
MANNKIND CORP MNKDEUR EZ 293.8 (237.7) 158.8
MANNKIND CORP NNFN GZ 293.8 (237.7) 158.8
MARKETWISE INC MKTW* MM 435.2 (328.0) (119.1)
MASCO CORP MAS US 5,417.0 (416.0) 1,040.0
MASCO CORP MSQ GR 5,417.0 (416.0) 1,040.0
MASCO CORP MSQ TH 5,417.0 (416.0) 1,040.0
MASCO CORP MAS* MM 5,417.0 (416.0) 1,040.0
MASCO CORP MSQ QT 5,417.0 (416.0) 1,040.0
MASCO CORP MAS1EUR EU 5,417.0 (416.0) 1,040.0
MASCO CORP MSQ GZ 5,417.0 (416.0) 1,040.0
MASCO CORP MAS1EUR EZ 5,417.0 (416.0) 1,040.0
MASCO CORP MAS-RM RM 5,417.0 (416.0) 1,040.0
MASCO CORP-BDR M1AS34 BZ 5,417.0 (416.0) 1,040.0
MASON INDUS-CL A MIT US 503.2 (18.3) (0.2)
MASON INDUSTRIAL MIT/U US 503.2 (18.3) (0.2)
MATCH GROUP -BDR M1TC34 BZ 3,914.5 (698.5) 103.8
MATCH GROUP INC 0JZ7 LI 3,914.5 (698.5) 103.8
MATCH GROUP INC MTCH US 3,914.5 (698.5) 103.8
MATCH GROUP INC MTCH1* MM 3,914.5 (698.5) 103.8
MATCH GROUP INC 4MGN TH 3,914.5 (698.5) 103.8
MATCH GROUP INC 4MGN GR 3,914.5 (698.5) 103.8
MATCH GROUP INC 4MGN QT 3,914.5 (698.5) 103.8
MATCH GROUP INC 4MGN SW 3,914.5 (698.5) 103.8
MATCH GROUP INC MTC2 AV 3,914.5 (698.5) 103.8
MATCH GROUP INC 4MGN GZ 3,914.5 (698.5) 103.8
MATCH GROUP INC MTCH-RM RM 3,914.5 (698.5) 103.8
MBIA INC MBI US 4,015.0 (849.0) -
MBIA INC MBJ GR 4,015.0 (849.0) -
MBIA INC MBJ TH 4,015.0 (849.0) -
MBIA INC MBJ QT 4,015.0 (849.0) -
MBIA INC MBI1EUR EU 4,015.0 (849.0) -
MBIA INC MBJ GZ 4,015.0 (849.0) -
MCDONALD'S - CDR MCDS CN 48,501.6 (6,566.2) 2,254.7
MCDONALD'S - CDR MDO0 GR 48,501.6 (6,566.2) 2,254.7
MCDONALDS - BDR MCDC34 BZ 48,501.6 (6,566.2) 2,254.7
MCDONALDS CORP MDO TH 48,501.6 (6,566.2) 2,254.7
MCDONALDS CORP MCD TE 48,501.6 (6,566.2) 2,254.7
MCDONALDS CORP MDO GR 48,501.6 (6,566.2) 2,254.7
MCDONALDS CORP MCD* MM 48,501.6 (6,566.2) 2,254.7
MCDONALDS CORP MCD US 48,501.6 (6,566.2) 2,254.7
MCDONALDS CORP MCD SW 48,501.6 (6,566.2) 2,254.7
MCDONALDS CORP MCD CI 48,501.6 (6,566.2) 2,254.7
MCDONALDS CORP MDO QT 48,501.6 (6,566.2) 2,254.7
MCDONALDS CORP MCDUSD SW 48,501.6 (6,566.2) 2,254.7
MCDONALDS CORP MCDEUR EU 48,501.6 (6,566.2) 2,254.7
MCDONALDS CORP MDO GZ 48,501.6 (6,566.2) 2,254.7
MCDONALDS CORP MCD AV 48,501.6 (6,566.2) 2,254.7
MCDONALDS CORP MCDEUR EZ 48,501.6 (6,566.2) 2,254.7
MCDONALDS CORP 0R16 LN 48,501.6 (6,566.2) 2,254.7
MCDONALDS CORP MCD-RM RM 48,501.6 (6,566.2) 2,254.7
MCDONALDS CORP MCDCL CI 48,501.6 (6,566.2) 2,254.7
MCDONALDS-CEDEAR MCDD AR 48,501.6 (6,566.2) 2,254.7
MCDONALDS-CEDEAR MCDC AR 48,501.6 (6,566.2) 2,254.7
MCDONALDS-CEDEAR MCD AR 48,501.6 (6,566.2) 2,254.7
MCKESSON CORP MCK* MM 63,081.0 (1,249.0) (1,909.0)
MCKESSON CORP MCK GR 63,081.0 (1,249.0) (1,909.0)
MCKESSON CORP MCK US 63,081.0 (1,249.0) (1,909.0)
MCKESSON CORP MCK TH 63,081.0 (1,249.0) (1,909.0)
MCKESSON CORP MCK1EUR EU 63,081.0 (1,249.0) (1,909.0)
MCKESSON CORP MCK QT 63,081.0 (1,249.0) (1,909.0)
MCKESSON CORP MCK GZ 63,081.0 (1,249.0) (1,909.0)
MCKESSON CORP MCK1EUR EZ 63,081.0 (1,249.0) (1,909.0)
MCKESSON CORP MCK-RM RM 63,081.0 (1,249.0) (1,909.0)
MCKESSON-BDR M1CK34 BZ 63,081.0 (1,249.0) (1,909.0)
MEDIAALPHA INC-A MAX US 265.2 (68.4) 6.0
METTLER-TO - BDR M1TD34 BZ 3,294.5 (82.8) 151.0
METTLER-TOLEDO MTD US 3,294.5 (82.8) 151.0
METTLER-TOLEDO MTO GR 3,294.5 (82.8) 151.0
METTLER-TOLEDO MTO QT 3,294.5 (82.8) 151.0
METTLER-TOLEDO MTO GZ 3,294.5 (82.8) 151.0
METTLER-TOLEDO MTO TH 3,294.5 (82.8) 151.0
METTLER-TOLEDO MTDEUR EU 3,294.5 (82.8) 151.0
METTLER-TOLEDO MTD* MM 3,294.5 (82.8) 151.0
METTLER-TOLEDO MTDEUR EZ 3,294.5 (82.8) 151.0
METTLER-TOLEDO MTD AV 3,294.5 (82.8) 151.0
METTLER-TOLEDO MTD-RM RM 3,294.5 (82.8) 151.0
MICROSTRATEG-BDR M2ST34 BZ 2,545.3 (200.3) (58.2)
MICROSTRATEGY MSTR US 2,545.3 (200.3) (58.2)
MICROSTRATEGY MIGA GR 2,545.3 (200.3) (58.2)
MICROSTRATEGY MSTREUR EU 2,545.3 (200.3) (58.2)
MICROSTRATEGY MIGA SW 2,545.3 (200.3) (58.2)
MICROSTRATEGY MIGA TH 2,545.3 (200.3) (58.2)
MICROSTRATEGY MIGA QT 2,545.3 (200.3) (58.2)
MICROSTRATEGY MSTREUR EZ 2,545.3 (200.3) (58.2)
MICROSTRATEGY MSTR* MM 2,545.3 (200.3) (58.2)
MICROSTRATEGY MIGA GZ 2,545.3 (200.3) (58.2)
MICROSTRATEGY MSTR-RM RM 2,545.3 (200.3) (58.2)
MICROSTRATEGY MSTR AR 2,545.3 (200.3) (58.2)
MONEYGRAM INTERN MGI US 4,389.1 (186.4) (11.3)
MONEYGRAM INTERN 9M1N GR 4,389.1 (186.4) (11.3)
MONEYGRAM INTERN 9M1N QT 4,389.1 (186.4) (11.3)
MONEYGRAM INTERN 9M1N TH 4,389.1 (186.4) (11.3)
MONEYGRAM INTERN MGIEUR EU 4,389.1 (186.4) (11.3)
MOTOROLA SOL-BDR M1SI34 BZ 11,625.0 (394.0) 939.0
MOTOROLA SOL-CED MSI AR 11,625.0 (394.0) 939.0
MOTOROLA SOLUTIO MTLA GR 11,625.0 (394.0) 939.0
MOTOROLA SOLUTIO MSI* MM 11,625.0 (394.0) 939.0
MOTOROLA SOLUTIO MTLA TH 11,625.0 (394.0) 939.0
MOTOROLA SOLUTIO MSI US 11,625.0 (394.0) 939.0
MOTOROLA SOLUTIO MOT TE 11,625.0 (394.0) 939.0
MOTOROLA SOLUTIO MTLA QT 11,625.0 (394.0) 939.0
MOTOROLA SOLUTIO MSI1EUR EU 11,625.0 (394.0) 939.0
MOTOROLA SOLUTIO MTLA GZ 11,625.0 (394.0) 939.0
MOTOROLA SOLUTIO MSI1EUR EZ 11,625.0 (394.0) 939.0
MOTOROLA SOLUTIO MOSI AV 11,625.0 (394.0) 939.0
MOTOROLA SOLUTIO MSI-RM RM 11,625.0 (394.0) 939.0
MSCI INC 3HM GR 4,777.5 (1,077.4) 459.7
MSCI INC MSCI US 4,777.5 (1,077.4) 459.7
MSCI INC 3HM QT 4,777.5 (1,077.4) 459.7
MSCI INC 3HM SW 4,777.5 (1,077.4) 459.7
MSCI INC MSCI* MM 4,777.5 (1,077.4) 459.7
MSCI INC MSCIEUR EZ 4,777.5 (1,077.4) 459.7
MSCI INC 3HM GZ 4,777.5 (1,077.4) 459.7
MSCI INC 3HM TH 4,777.5 (1,077.4) 459.7
MSCI INC MSCI AV 4,777.5 (1,077.4) 459.7
MSCI INC MSCI-RM RM 4,777.5 (1,077.4) 459.7
MSCI INC-BDR M1SC34 BZ 4,777.5 (1,077.4) 459.7
NATHANS FAMOUS NATH US 84.0 (47.5) 56.6
NATHANS FAMOUS NFA GR 84.0 (47.5) 56.6
NATHANS FAMOUS NATHEUR EU 84.0 (47.5) 56.6
NEW ENG RLTY-LP NEN US 389.9 (59.4) -
NINE ENERGY SERV NINE US 407.5 (32.1) 86.0
NINE ENERGY SERV NEJ GR 407.5 (32.1) 86.0
NINE ENERGY SERV NINE1EUR EU 407.5 (32.1) 86.0
NINE ENERGY SERV NINE1EUR EZ 407.5 (32.1) 86.0
NINE ENERGY SERV NEJ GZ 407.5 (32.1) 86.0
NINE ENERGY SERV NEJ TH 407.5 (32.1) 86.0
NINE ENERGY SERV NEJ QT 407.5 (32.1) 86.0
NOVAVAX INC NVV1 GR 2,267.4 (566.0) 92.0
NOVAVAX INC NVAX US 2,267.4 (566.0) 92.0
NOVAVAX INC NVV1 TH 2,267.4 (566.0) 92.0
NOVAVAX INC NVV1 QT 2,267.4 (566.0) 92.0
NOVAVAX INC NVAXEUR EU 2,267.4 (566.0) 92.0
NOVAVAX INC NVV1 GZ 2,267.4 (566.0) 92.0
NOVAVAX INC NVV1 SW 2,267.4 (566.0) 92.0
NOVAVAX INC NVAX* MM 2,267.4 (566.0) 92.0
NOVAVAX INC 0A3S LI 2,267.4 (566.0) 92.0
NOVAVAX INC NVV1 BU 2,267.4 (566.0) 92.0
NUTANIX INC - A NTNX US 2,357.4 (791.0) 524.3
NUTANIX INC - A 0NU GR 2,357.4 (791.0) 524.3
NUTANIX INC - A NTNXEUR EU 2,357.4 (791.0) 524.3
NUTANIX INC - A 0NU TH 2,357.4 (791.0) 524.3
NUTANIX INC - A 0NU QT 2,357.4 (791.0) 524.3
NUTANIX INC - A 0NU GZ 2,357.4 (791.0) 524.3
NUTANIX INC - A NTNXEUR EZ 2,357.4 (791.0) 524.3
NUTANIX INC - A NTNX-RM RM 2,357.4 (791.0) 524.3
NUTANIX INC-BDR N2TN34 BZ 2,357.4 (791.0) 524.3
O'REILLY AUT-BDR ORLY34 BZ 12,238.0 (1,205.5) (2,080.7)
O'REILLY AUTOMOT OM6 GR 12,238.0 (1,205.5) (2,080.7)
O'REILLY AUTOMOT ORLY US 12,238.0 (1,205.5) (2,080.7)
O'REILLY AUTOMOT OM6 TH 12,238.0 (1,205.5) (2,080.7)
O'REILLY AUTOMOT ORLY SW 12,238.0 (1,205.5) (2,080.7)
O'REILLY AUTOMOT OM6 QT 12,238.0 (1,205.5) (2,080.7)
O'REILLY AUTOMOT ORLY* MM 12,238.0 (1,205.5) (2,080.7)
O'REILLY AUTOMOT ORLYEUR EU 12,238.0 (1,205.5) (2,080.7)
O'REILLY AUTOMOT OM6 GZ 12,238.0 (1,205.5) (2,080.7)
O'REILLY AUTOMOT ORLY AV 12,238.0 (1,205.5) (2,080.7)
O'REILLY AUTOMOT ORLYEUR EZ 12,238.0 (1,205.5) (2,080.7)
O'REILLY AUTOMOT ORLY-RM RM 12,238.0 (1,205.5) (2,080.7)
OAK STREET HEALT OSH US 2,100.5 (155.6) 509.6
OAK STREET HEALT HE6 GZ 2,100.5 (155.6) 509.6
OAK STREET HEALT HE6 GR 2,100.5 (155.6) 509.6
OAK STREET HEALT OSH3EUR EU 2,100.5 (155.6) 509.6
OAK STREET HEALT HE6 TH 2,100.5 (155.6) 509.6
OAK STREET HEALT HE6 QT 2,100.5 (155.6) 509.6
OAK STREET HEALT OSH* MM 2,100.5 (155.6) 509.6
ORACLE BDR ORCL34 BZ 128,469 (3,776.0) (9,545.0)
ORACLE CO-CEDEAR ORCLC AR 128,469 (3,776.0) (9,545.0)
ORACLE CO-CEDEAR ORCL AR 128,469 (3,776.0) (9,545.0)
ORACLE CO-CEDEAR ORCLD AR 128,469 (3,776.0) (9,545.0)
ORACLE CORP ORCL US 128,469 (3,776.0) (9,545.0)
ORACLE CORP ORC GR 128,469 (3,776.0) (9,545.0)
ORACLE CORP ORCL* MM 128,469 (3,776.0) (9,545.0)
ORACLE CORP ORCL TE 128,469 (3,776.0) (9,545.0)
ORACLE CORP ORC TH 128,469 (3,776.0) (9,545.0)
ORACLE CORP ORCL CI 128,469 (3,776.0) (9,545.0)
ORACLE CORP ORCL SW 128,469 (3,776.0) (9,545.0)
ORACLE CORP ORCLEUR EU 128,469 (3,776.0) (9,545.0)
ORACLE CORP ORC QT 128,469 (3,776.0) (9,545.0)
ORACLE CORP ORCLUSD EU 128,469 (3,776.0) (9,545.0)
ORACLE CORP ORCLUSD SW 128,469 (3,776.0) (9,545.0)
ORACLE CORP ORC GZ 128,469 (3,776.0) (9,545.0)
ORACLE CORP 0R1Z LN 128,469 (3,776.0) (9,545.0)
ORACLE CORP ORCL AV 128,469 (3,776.0) (9,545.0)
ORACLE CORP ORCLEUR EZ 128,469 (3,776.0) (9,545.0)
ORACLE CORP ORCLUSD EZ 128,469 (3,776.0) (9,545.0)
ORACLE CORP ORCLCL CI 128,469 (3,776.0) (9,545.0)
ORACLE CORP ORCL-RM RM 128,469 (3,776.0) (9,545.0)
ORGANON & CO OGN US 10,437.0 (1,066.0) 1,264.0
ORGANON & CO 7XP TH 10,437.0 (1,066.0) 1,264.0
ORGANON & CO OGN-WEUR EU 10,437.0 (1,066.0) 1,264.0
ORGANON & CO 7XP GR 10,437.0 (1,066.0) 1,264.0
ORGANON & CO OGN* MM 10,437.0 (1,066.0) 1,264.0
ORGANON & CO 7XP GZ 10,437.0 (1,066.0) 1,264.0
ORGANON & CO 7XP QT 10,437.0 (1,066.0) 1,264.0
ORGANON & CO OGN-RM RM 10,437.0 (1,066.0) 1,264.0
OTIS WORLDWI OTIS US 9,342.0 (4,733.0) (163.0)
OTIS WORLDWI 4PG GR 9,342.0 (4,733.0) (163.0)
OTIS WORLDWI 4PG GZ 9,342.0 (4,733.0) (163.0)
OTIS WORLDWI OTISEUR EZ 9,342.0 (4,733.0) (163.0)
OTIS WORLDWI OTISEUR EU 9,342.0 (4,733.0) (163.0)
OTIS WORLDWI OTIS* MM 9,342.0 (4,733.0) (163.0)
OTIS WORLDWI 4PG TH 9,342.0 (4,733.0) (163.0)
OTIS WORLDWI 4PG QT 9,342.0 (4,733.0) (163.0)
OTIS WORLDWI OTIS AV 9,342.0 (4,733.0) (163.0)
OTIS WORLDWI OTIS-RM RM 9,342.0 (4,733.0) (163.0)
OTIS WORLDWI-BDR O1TI34 BZ 9,342.0 (4,733.0) (163.0)
OYSTER POINT PHA OYST US 109.2 (22.2) 68.5
PAPA JOHN'S INTL PZZA US 829.7 (257.4) (24.2)
PAPA JOHN'S INTL PP1 GR 829.7 (257.4) (24.2)
PAPA JOHN'S INTL PZZAEUR EU 829.7 (257.4) (24.2)
PAPA JOHN'S INTL PP1 GZ 829.7 (257.4) (24.2)
PAPA JOHN'S INTL PP1 TH 829.7 (257.4) (24.2)
PAPA JOHN'S INTL PP1 QT 829.7 (257.4) (24.2)
PAPAYA GROWTH -A PPYA US 296.2 280.8 0.9
PAPAYA GROWTH OP PPYAU US 296.2 280.8 0.9
PAPAYA GROWTH OP CC40 GR 296.2 280.8 0.9
PAPAYA GROWTH OP PPYAUEUR EU 296.2 280.8 0.9
PET VALU HOLDING PET CN 697.3 (25.3) 68.9
PETRO USA INC PBAJ US - (0.1) (0.1)
PHATHOM PHARMACE PHAT US 201.9 (26.4) 174.9
PHILIP MORRI-BDR PHMO34 BZ 40,717.0 (7,403.0) (1,737.0)
PHILIP MORRIS IN PM1EUR EU 40,717.0 (7,403.0) (1,737.0)
PHILIP MORRIS IN PMI SW 40,717.0 (7,403.0) (1,737.0)
PHILIP MORRIS IN PM1 TE 40,717.0 (7,403.0) (1,737.0)
PHILIP MORRIS IN 4I1 TH 40,717.0 (7,403.0) (1,737.0)
PHILIP MORRIS IN PM1CHF EU 40,717.0 (7,403.0) (1,737.0)
PHILIP MORRIS IN 4I1 GR 40,717.0 (7,403.0) (1,737.0)
PHILIP MORRIS IN PM US 40,717.0 (7,403.0) (1,737.0)
PHILIP MORRIS IN PMIZ IX 40,717.0 (7,403.0) (1,737.0)
PHILIP MORRIS IN PMIZ EB 40,717.0 (7,403.0) (1,737.0)
PHILIP MORRIS IN 4I1 QT 40,717.0 (7,403.0) (1,737.0)
PHILIP MORRIS IN 4I1 GZ 40,717.0 (7,403.0) (1,737.0)
PHILIP MORRIS IN 0M8V LN 40,717.0 (7,403.0) (1,737.0)
PHILIP MORRIS IN PMOR AV 40,717.0 (7,403.0) (1,737.0)
PHILIP MORRIS IN PM* MM 40,717.0 (7,403.0) (1,737.0)
PHILIP MORRIS IN PM1CHF EZ 40,717.0 (7,403.0) (1,737.0)
PHILIP MORRIS IN PM1EUR EZ 40,717.0 (7,403.0) (1,737.0)
PHILIP MORRIS IN PM-RM RM 40,717.0 (7,403.0) (1,737.0)
PITNEY BOW-CED PBI AR 4,593.1 (8.3) 111.3
PITNEY BOWES INC PBW GR 4,593.1 (8.3) 111.3
PITNEY BOWES INC PBI US 4,593.1 (8.3) 111.3
PITNEY BOWES INC PBW TH 4,593.1 (8.3) 111.3
PITNEY BOWES INC PBIEUR EU 4,593.1 (8.3) 111.3
PITNEY BOWES INC PBW QT 4,593.1 (8.3) 111.3
PITNEY BOWES INC PBIEUR EZ 4,593.1 (8.3) 111.3
PITNEY BOWES INC PBW GZ 4,593.1 (8.3) 111.3
PITNEY BOWES INC PBI-RM RM 4,593.1 (8.3) 111.3
PLANET FITNESS I P2LN34 BZ 2,846.3 (248.1) 282.3
PLANET FITNESS-A PLNT US 2,846.3 (248.1) 282.3
PLANET FITNESS-A 3PL TH 2,846.3 (248.1) 282.3
PLANET FITNESS-A 3PL GR 2,846.3 (248.1) 282.3
PLANET FITNESS-A 3PL QT 2,846.3 (248.1) 282.3
PLANET FITNESS-A PLNT1EUR EU 2,846.3 (248.1) 282.3
PLANET FITNESS-A 3PL GZ 2,846.3 (248.1) 282.3
PROS HOLDINGS IN PH2 GR 460.9 (27.7) 109.1
PROS HOLDINGS IN PRO US 460.9 (27.7) 109.1
PROS HOLDINGS IN PRO1EUR EU 460.9 (27.7) 109.1
PTC THERAPEUTICS PTCT US 1,576.4 (226.9) 97.2
PTC THERAPEUTICS BH3 GR 1,576.4 (226.9) 97.2
PTC THERAPEUTICS P91 TH 1,576.4 (226.9) 97.2
PTC THERAPEUTICS P91 QT 1,576.4 (226.9) 97.2
RAPID7 INC RPD US 1,295.5 (142.3) (47.9)
RAPID7 INC R7D GR 1,295.5 (142.3) (47.9)
RAPID7 INC RPDEUR EU 1,295.5 (142.3) (47.9)
RAPID7 INC R7D TH 1,295.5 (142.3) (47.9)
RAPID7 INC RPD* MM 1,295.5 (142.3) (47.9)
RAPID7 INC R7D GZ 1,295.5 (142.3) (47.9)
RAPID7 INC R7D QT 1,295.5 (142.3) (47.9)
RAPID7 INC-BDR R2PD34 BZ 1,295.5 (142.3) (47.9)
REDWOODS ACQUISI RWODU US 117.2 112.6 0.3
REDWOODS ACQUISI RWOD US 117.2 112.6 0.3
REVLON INC-A REV* MM 2,520.6 (2,497.1) (6.0)
RIMINI STREET IN RMNI US 333.3 (75.4) (61.6)
RIMINI STREET IN 0QH GR 333.3 (75.4) (61.6)
RIMINI STREET IN RMNIEUR EU 333.3 (75.4) (61.6)
RIMINI STREET IN 0QH QT 333.3 (75.4) (61.6)
RINGCENTRAL IN-A RNG US 2,315.7 (45.4) 135.4
RINGCENTRAL IN-A 3RCA GR 2,315.7 (45.4) 135.4
RINGCENTRAL IN-A RNGEUR EU 2,315.7 (45.4) 135.4
RINGCENTRAL IN-A 3RCA TH 2,315.7 (45.4) 135.4
RINGCENTRAL IN-A 3RCA QT 2,315.7 (45.4) 135.4
RINGCENTRAL IN-A RNGEUR EZ 2,315.7 (45.4) 135.4
RINGCENTRAL IN-A RNG* MM 2,315.7 (45.4) 135.4
RINGCENTRAL IN-A 3RCA GZ 2,315.7 (45.4) 135.4
RINGCENTRAL-BDR R2NG34 BZ 2,315.7 (45.4) 135.4
RITE AID CORP RAD US 8,209.8 (403.7) 854.1
RITE AID CORP RTA1 GR 8,209.8 (403.7) 854.1
RITE AID CORP RTA1 TH 8,209.8 (403.7) 854.1
RITE AID CORP RTA1 QT 8,209.8 (403.7) 854.1
RITE AID CORP RADEUR EU 8,209.8 (403.7) 854.1
RITE AID CORP RADEUR EZ 8,209.8 (403.7) 854.1
RITE AID CORP RTA1 GZ 8,209.8 (403.7) 854.1
SABRE CORP SABR US 5,019.6 (732.0) 655.0
SABRE CORP 19S GR 5,019.6 (732.0) 655.0
SABRE CORP 19S TH 5,019.6 (732.0) 655.0
SABRE CORP 19S QT 5,019.6 (732.0) 655.0
SABRE CORP SABREUR EU 5,019.6 (732.0) 655.0
SABRE CORP SABREUR EZ 5,019.6 (732.0) 655.0
SABRE CORP 19S GZ 5,019.6 (732.0) 655.0
SBA COMM CORP 4SB GR 9,942.4 (5,324.2) (801.9)
SBA COMM CORP SBAC US 9,942.4 (5,324.2) (801.9)
SBA COMM CORP 4SB TH 9,942.4 (5,324.2) (801.9)
SBA COMM CORP 4SB QT 9,942.4 (5,324.2) (801.9)
SBA COMM CORP SBACEUR EU 9,942.4 (5,324.2) (801.9)
SBA COMM CORP 4SB GZ 9,942.4 (5,324.2) (801.9)
SBA COMM CORP SBAC* MM 9,942.4 (5,324.2) (801.9)
SBA COMM CORP SBACEUR EZ 9,942.4 (5,324.2) (801.9)
SBA COMMUN - BDR S1BA34 BZ 9,942.4 (5,324.2) (801.9)
SEAGATE TECHNOLO S1TX34 BZ 8,611.0 (351.0) 602.0
SEAGATE TECHNOLO STXN MM 8,611.0 (351.0) 602.0
SEAGATE TECHNOLO STX US 8,611.0 (351.0) 602.0
SEAGATE TECHNOLO 847 GR 8,611.0 (351.0) 602.0
SEAGATE TECHNOLO 847 GZ 8,611.0 (351.0) 602.0
SEAGATE TECHNOLO STX4EUR EU 8,611.0 (351.0) 602.0
SEAGATE TECHNOLO 847 TH 8,611.0 (351.0) 602.0
SEAGATE TECHNOLO STXH AV 8,611.0 (351.0) 602.0
SEAGATE TECHNOLO 847 QT 8,611.0 (351.0) 602.0
SEAGATE TECHNOLO STH TE 8,611.0 (351.0) 602.0
SEAWORLD ENTERTA SEAS US 2,355.5 (420.3) (153.8)
SEAWORLD ENTERTA W2L GR 2,355.5 (420.3) (153.8)
SEAWORLD ENTERTA W2L TH 2,355.5 (420.3) (153.8)
SEAWORLD ENTERTA SEASEUR EU 2,355.5 (420.3) (153.8)
SEAWORLD ENTERTA W2L QT 2,355.5 (420.3) (153.8)
SEAWORLD ENTERTA W2L GZ 2,355.5 (420.3) (153.8)
SHIFTPIXY INC PIXY US 128.6 (31.5) (31.2)
SHIFTPIXY INC PIXYEUR EU 128.6 (31.5) (31.2)
SHIFTPIXY INC 19U GR 128.6 (31.5) (31.2)
SHIFTPIXY INC 19U GZ 128.6 (31.5) (31.2)
SHIFTPIXY INC 19U TH 128.6 (31.5) (31.2)
SILVER SPIKE-A SPKC/U CN 128.5 (6.3) 0.5
SIRIUS XM HO-BDR SRXM34 BZ 10,059.0 (3,616.0) (1,719.0)
SIRIUS XM HOLDIN SIRI US 10,059.0 (3,616.0) (1,719.0)
SIRIUS XM HOLDIN RDO TH 10,059.0 (3,616.0) (1,719.0)
SIRIUS XM HOLDIN RDO GR 10,059.0 (3,616.0) (1,719.0)
SIRIUS XM HOLDIN RDO QT 10,059.0 (3,616.0) (1,719.0)
SIRIUS XM HOLDIN SIRIEUR EU 10,059.0 (3,616.0) (1,719.0)
SIRIUS XM HOLDIN RDO GZ 10,059.0 (3,616.0) (1,719.0)
SIRIUS XM HOLDIN SIRI AV 10,059.0 (3,616.0) (1,719.0)
SIRIUS XM HOLDIN SIRIEUR EZ 10,059.0 (3,616.0) (1,719.0)
SIX FLAGS ENTERT SIX US 2,704.1 (421.8) (212.8)
SIX FLAGS ENTERT 6FE GR 2,704.1 (421.8) (212.8)
SIX FLAGS ENTERT SIXEUR EU 2,704.1 (421.8) (212.8)
SIX FLAGS ENTERT 6FE TH 2,704.1 (421.8) (212.8)
SIX FLAGS ENTERT 6FE QT 2,704.1 (421.8) (212.8)
SKYX PLATFORMS C SKYX US 47.8 12.5 15.0
SLEEP NUMBER COR SNBR US 940.8 (437.5) (725.6)
SLEEP NUMBER COR SL2 GR 940.8 (437.5) (725.6)
SLEEP NUMBER COR SNBREUR EU 940.8 (437.5) (725.6)
SLEEP NUMBER COR SL2 TH 940.8 (437.5) (725.6)
SLEEP NUMBER COR SL2 QT 940.8 (437.5) (725.6)
SLEEP NUMBER COR SL2 GZ 940.8 (437.5) (725.6)
SMILEDIRECTCLUB SDC* MM 631.8 (321.9) 190.3
SPIRIT AEROSYS-A S9Q GR 6,713.6 (45.6) 932.8
SPIRIT AEROSYS-A SPR US 6,713.6 (45.6) 932.8
SPIRIT AEROSYS-A S9Q TH 6,713.6 (45.6) 932.8
SPIRIT AEROSYS-A SPREUR EU 6,713.6 (45.6) 932.8
SPIRIT AEROSYS-A S9Q QT 6,713.6 (45.6) 932.8
SPIRIT AEROSYS-A S9Q GZ 6,713.6 (45.6) 932.8
SPIRIT AEROSYS-A SPR-RM RM 6,713.6 (45.6) 932.8
SPLUNK INC SPLK US 5,251.3 (569.6) 525.9
SPLUNK INC S0U GR 5,251.3 (569.6) 525.9
SPLUNK INC S0U TH 5,251.3 (569.6) 525.9
SPLUNK INC S0U QT 5,251.3 (569.6) 525.9
SPLUNK INC SPLK SW 5,251.3 (569.6) 525.9
SPLUNK INC SPLKEUR EU 5,251.3 (569.6) 525.9
SPLUNK INC SPLK* MM 5,251.3 (569.6) 525.9
SPLUNK INC SPLKEUR EZ 5,251.3 (569.6) 525.9
SPLUNK INC S0U GZ 5,251.3 (569.6) 525.9
SPLUNK INC SPLK-RM RM 5,251.3 (569.6) 525.9
SPLUNK INC - BDR S1PL34 BZ 5,251.3 (569.6) 525.9
SPRING VALLEY AC SVIIU US 0.7 (0.0) (0.7)
SPRING VALLEY AC SVII US 0.7 (0.0) (0.7)
SQUARESPACE -BDR S2QS34 BZ 962.8 (62.1) (98.7)
SQUARESPACE IN-A SQSP US 962.8 (62.1) (98.7)
SQUARESPACE IN-A 8DT GR 962.8 (62.1) (98.7)
SQUARESPACE IN-A 8DT GZ 962.8 (62.1) (98.7)
SQUARESPACE IN-A SQSPEUR EU 962.8 (62.1) (98.7)
SQUARESPACE IN-A 8DT TH 962.8 (62.1) (98.7)
SQUARESPACE IN-A 8DT QT 962.8 (62.1) (98.7)
STARBUCKS CORP SBUX US 27,978.4 (8,698.7) (2,133.1)
STARBUCKS CORP SBUX* MM 27,978.4 (8,698.7) (2,133.1)
STARBUCKS CORP SRB TH 27,978.4 (8,698.7) (2,133.1)
STARBUCKS CORP SRB GR 27,978.4 (8,698.7) (2,133.1)
STARBUCKS CORP SBUX CI 27,978.4 (8,698.7) (2,133.1)
STARBUCKS CORP SBUX SW 27,978.4 (8,698.7) (2,133.1)
STARBUCKS CORP SRB QT 27,978.4 (8,698.7) (2,133.1)
STARBUCKS CORP SBUX PE 27,978.4 (8,698.7) (2,133.1)
STARBUCKS CORP SBUXUSD SW 27,978.4 (8,698.7) (2,133.1)
STARBUCKS CORP SRB GZ 27,978.4 (8,698.7) (2,133.1)
STARBUCKS CORP SBUX AV 27,978.4 (8,698.7) (2,133.1)
STARBUCKS CORP SBUX TE 27,978.4 (8,698.7) (2,133.1)
STARBUCKS CORP SBUXEUR EU 27,978.4 (8,698.7) (2,133.1)
STARBUCKS CORP SBUX IM 27,978.4 (8,698.7) (2,133.1)
STARBUCKS CORP SBUXEUR EZ 27,978.4 (8,698.7) (2,133.1)
STARBUCKS CORP 0QZH LI 27,978.4 (8,698.7) (2,133.1)
STARBUCKS CORP SBUX-RM RM 27,978.4 (8,698.7) (2,133.1)
STARBUCKS CORP SBUXCL CI 27,978.4 (8,698.7) (2,133.1)
STARBUCKS CORP SBUX_KZ KZ 27,978.4 (8,698.7) (2,133.1)
STARBUCKS CORP SRBD BQ 27,978.4 (8,698.7) (2,133.1)
STARBUCKS-BDR SBUB34 BZ 27,978.4 (8,698.7) (2,133.1)
STARBUCKS-CEDEAR SBUX AR 27,978.4 (8,698.7) (2,133.1)
STARBUCKS-CEDEAR SBUXD AR 27,978.4 (8,698.7) (2,133.1)
TEMPUR SEALY INT TPD GR 4,351.7 (143.3) 198.5
TEMPUR SEALY INT TPX US 4,351.7 (143.3) 198.5
TEMPUR SEALY INT TPXEUR EU 4,351.7 (143.3) 198.5
TEMPUR SEALY INT TPD SW 4,351.7 (143.3) 198.5
TEMPUR SEALY INT TPD TH 4,351.7 (143.3) 198.5
TEMPUR SEALY INT TPD GZ 4,351.7 (143.3) 198.5
TEMPUR SEALY INT T2PX34 BZ 4,351.7 (143.3) 198.5
TEMPUR SEALY INT TPX-RM RM 4,351.7 (143.3) 198.5
TORRID HOLDINGS CURV US 564.3 (229.1) (51.1)
TRANSDIGM - BDR T1DG34 BZ 18,107.0 (3,766.0) 4,223.0
TRANSDIGM GROUP T7D GR 18,107.0 (3,766.0) 4,223.0
TRANSDIGM GROUP TDG US 18,107.0 (3,766.0) 4,223.0
TRANSDIGM GROUP T7D QT 18,107.0 (3,766.0) 4,223.0
TRANSDIGM GROUP TDGEUR EU 18,107.0 (3,766.0) 4,223.0
TRANSDIGM GROUP T7D TH 18,107.0 (3,766.0) 4,223.0
TRANSDIGM GROUP TDG* MM 18,107.0 (3,766.0) 4,223.0
TRANSDIGM GROUP TDGEUR EZ 18,107.0 (3,766.0) 4,223.0
TRANSDIGM GROUP TDG-RM RM 18,107.0 (3,766.0) 4,223.0
TRAVEL + LEISURE WD5A GR 6,380.0 (903.0) 513.0
TRAVEL + LEISURE TNL US 6,380.0 (903.0) 513.0
TRAVEL + LEISURE WD5A TH 6,380.0 (903.0) 513.0
TRAVEL + LEISURE WD5A QT 6,380.0 (903.0) 513.0
TRAVEL + LEISURE WYNEUR EU 6,380.0 (903.0) 513.0
TRAVEL + LEISURE 0M1K LI 6,380.0 (903.0) 513.0
TRAVEL + LEISURE WD5A GZ 6,380.0 (903.0) 513.0
TRAVEL + LEISURE TNL* MM 6,380.0 (903.0) 513.0
TRIUMPH GROUP TG7 GR 1,568.3 (702.1) 443.5
TRIUMPH GROUP TGI US 1,568.3 (702.1) 443.5
TRIUMPH GROUP TGIEUR EU 1,568.3 (702.1) 443.5
TRIUMPH GROUP TG7 TH 1,568.3 (702.1) 443.5
TRIUMPH GROUP TG7 GZ 1,568.3 (702.1) 443.5
TUPPERWARE BRAND TUP US 1,053.6 (175.4) 108.1
TUPPERWARE BRAND TUP GR 1,053.6 (175.4) 108.1
TUPPERWARE BRAND TUP QT 1,053.6 (175.4) 108.1
TUPPERWARE BRAND TUP GZ 1,053.6 (175.4) 108.1
TUPPERWARE BRAND TUP TH 1,053.6 (175.4) 108.1
TUPPERWARE BRAND TUP1EUR EU 1,053.6 (175.4) 108.1
TUPPERWARE BRAND TUP1EUR EZ 1,053.6 (175.4) 108.1
UBIQUITI INC 3UB GR 937.2 (325.5) 350.1
UBIQUITI INC UI US 937.2 (325.5) 350.1
UBIQUITI INC UBNTEUR EU 937.2 (325.5) 350.1
UBIQUITI INC 3UB TH 937.2 (325.5) 350.1
UNISYS CORP UISEUR EU 2,058.1 (135.3) 236.4
UNISYS CORP UIS US 2,058.1 (135.3) 236.4
UNISYS CORP UIS SW 2,058.1 (135.3) 236.4
UNISYS CORP USY1 TH 2,058.1 (135.3) 236.4
UNISYS CORP USY1 GR 2,058.1 (135.3) 236.4
UNISYS CORP USY1 GZ 2,058.1 (135.3) 236.4
UNISYS CORP USY1 QT 2,058.1 (135.3) 236.4
UNISYS CORP UISEUR EZ 2,058.1 (135.3) 236.4
UNITI GROUP INC UNIT US 4,811.0 (2,260.2) -
UNITI GROUP INC 8XC GR 4,811.0 (2,260.2) -
UNITI GROUP INC 8XC TH 4,811.0 (2,260.2) -
UNITI GROUP INC 8XC GZ 4,811.0 (2,260.2) -
UROGEN PHARMA LT URGN US 128.5 (63.3) 102.6
UROGEN PHARMA LT UR8 GR 128.5 (63.3) 102.6
UROGEN PHARMA LT URGNEUR EU 128.5 (63.3) 102.6
VECTOR GROUP LTD VGR GR 1,049.3 (823.3) 281.6
VECTOR GROUP LTD VGR US 1,049.3 (823.3) 281.6
VECTOR GROUP LTD VGR QT 1,049.3 (823.3) 281.6
VECTOR GROUP LTD VGREUR EU 1,049.3 (823.3) 281.6
VECTOR GROUP LTD VGR TH 1,049.3 (823.3) 281.6
VECTOR GROUP LTD VGR GZ 1,049.3 (823.3) 281.6
VERISIGN INC VRS TH 1,744.4 (1,542.4) (46.6)
VERISIGN INC VRS GR 1,744.4 (1,542.4) (46.6)
VERISIGN INC VRSN US 1,744.4 (1,542.4) (46.6)
VERISIGN INC VRS QT 1,744.4 (1,542.4) (46.6)
VERISIGN INC VRSNEUR EU 1,744.4 (1,542.4) (46.6)
VERISIGN INC VRS GZ 1,744.4 (1,542.4) (46.6)
VERISIGN INC VRSN* MM 1,744.4 (1,542.4) (46.6)
VERISIGN INC VRSNEUR EZ 1,744.4 (1,542.4) (46.6)
VERISIGN INC VRSN-RM RM 1,744.4 (1,542.4) (46.6)
VERISIGN INC-BDR VRSN34 BZ 1,744.4 (1,542.4) (46.6)
VERISIGN-CEDEAR VRSN AR 1,744.4 (1,542.4) (46.6)
VIVINT SMART HOM VVNT US 2,959.0 (1,740.2) (528.4)
W&T OFFSHORE INC WTI US 1,490.3 (55.0) 229.8
W&T OFFSHORE INC UWV GR 1,490.3 (55.0) 229.8
W&T OFFSHORE INC WTI1EUR EU 1,490.3 (55.0) 229.8
W&T OFFSHORE INC UWV TH 1,490.3 (55.0) 229.8
W&T OFFSHORE INC UWV GZ 1,490.3 (55.0) 229.8
WAYFAIR INC- A W US 3,653.0 (2,378.0) 43.0
WAYFAIR INC- A 1WF GR 3,653.0 (2,378.0) 43.0
WAYFAIR INC- A 1WF TH 3,653.0 (2,378.0) 43.0
WAYFAIR INC- A WEUR EU 3,653.0 (2,378.0) 43.0
WAYFAIR INC- A 1WF QT 3,653.0 (2,378.0) 43.0
WAYFAIR INC- A WEUR EZ 3,653.0 (2,378.0) 43.0
WAYFAIR INC- A 1WF GZ 3,653.0 (2,378.0) 43.0
WAYFAIR INC- A W* MM 3,653.0 (2,378.0) 43.0
WAYFAIR INC- BDR W2YF34 BZ 3,653.0 (2,378.0) 43.0
WEBER INC - A WEBR US 1,448.0 (411.9) 35.4
WEWORK INC-CL A WE* MM 18,339.0 (2,755.0) (1,228.0)
WINGSTOP INC WING US 411.0 (406.6) 162.4
WINGSTOP INC EWG GR 411.0 (406.6) 162.4
WINGSTOP INC WING1EUR EU 411.0 (406.6) 162.4
WINGSTOP INC EWG GZ 411.0 (406.6) 162.4
WINMARK CORP WINA US 33.7 (60.4) 9.6
WINMARK CORP GBZ GR 33.7 (60.4) 9.6
WORKIVA INC WK US 776.6 (5.5) 192.1
WORKIVA INC 0WKA GR 776.6 (5.5) 192.1
WORKIVA INC WKEUR EU 776.6 (5.5) 192.1
WORKIVA INC 0WKA TH 776.6 (5.5) 192.1
WORKIVA INC 0WKA QT 776.6 (5.5) 192.1
WORKIVA INC WK* MM 776.6 (5.5) 192.1
WW INTERNATIONAL WW US 1,092.8 (659.5) 89.8
WW INTERNATIONAL WW6 GR 1,092.8 (659.5) 89.8
WW INTERNATIONAL WW6 TH 1,092.8 (659.5) 89.8
WW INTERNATIONAL WTWEUR EU 1,092.8 (659.5) 89.8
WW INTERNATIONAL WW6 QT 1,092.8 (659.5) 89.8
WW INTERNATIONAL WW6 GZ 1,092.8 (659.5) 89.8
WW INTERNATIONAL WTW AV 1,092.8 (659.5) 89.8
WW INTERNATIONAL WTWEUR EZ 1,092.8 (659.5) 89.8
WW INTERNATIONAL WW-RM RM 1,092.8 (659.5) 89.8
WYNN RESORTS LTD WYR GR 11,779.3 (1,597.0) 688.4
WYNN RESORTS LTD WYNN* MM 11,779.3 (1,597.0) 688.4
WYNN RESORTS LTD WYNN US 11,779.3 (1,597.0) 688.4
WYNN RESORTS LTD WYR TH 11,779.3 (1,597.0) 688.4
WYNN RESORTS LTD WYR QT 11,779.3 (1,597.0) 688.4
WYNN RESORTS LTD WYNNEUR EU 11,779.3 (1,597.0) 688.4
WYNN RESORTS LTD WYR GZ 11,779.3 (1,597.0) 688.4
WYNN RESORTS LTD WYNNEUR EZ 11,779.3 (1,597.0) 688.4
WYNN RESORTS LTD WYNN-RM RM 11,779.3 (1,597.0) 688.4
YUM! BRANDS INC YUM US 5,779.0 (8,542.0) 351.0
YUM! BRANDS INC TGR GR 5,779.0 (8,542.0) 351.0
YUM! BRANDS INC TGR TH 5,779.0 (8,542.0) 351.0
YUM! BRANDS INC YUMEUR EU 5,779.0 (8,542.0) 351.0
YUM! BRANDS INC TGR QT 5,779.0 (8,542.0) 351.0
YUM! BRANDS INC YUM SW 5,779.0 (8,542.0) 351.0
YUM! BRANDS INC YUMUSD SW 5,779.0 (8,542.0) 351.0
YUM! BRANDS INC TGR GZ 5,779.0 (8,542.0) 351.0
YUM! BRANDS INC YUM* MM 5,779.0 (8,542.0) 351.0
YUM! BRANDS INC YUM AV 5,779.0 (8,542.0) 351.0
YUM! BRANDS INC YUMEUR EZ 5,779.0 (8,542.0) 351.0
YUM! BRANDS INC YUM-RM RM 5,779.0 (8,542.0) 351.0
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Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par. Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable. Those sources may not,
however, be complete or accurate. The Monday Bond Pricing table
is compiled on the Friday prior to publication. Prices reported
are not intended to reflect actual trades. Prices for actual
trades are probably different. Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind. It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.
Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets. At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled. Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets. A company may establish reserves on its balance sheet for
liabilities that may never materialize. The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.
On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts. The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.
Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals. All titles are
available at your local bookstore or through Amazon.com. Go to
http://www.bankrupt.com/books/to order any title today.
Monthly Operating Reports are summarized in every Saturday edition
of the TCR.
The Sunday TCR delivers securitization rating news from the week
then-ending.
TCR subscribers have free access to our on-line news archive.
Point your Web browser to http://TCRresources.bankrupt.com/and use
the e-mail address to which your TCR is delivered to login.
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S U B S C R I P T I O N I N F O R M A T I O N
Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Philadelphia, Pa., USA.
Randy Antoni, Jhonas Dampog, Marites Claro, Joy Agravante,
Rousel Elaine Tumanda, Joel Anthony G. Lopez, Psyche A. Castillon,
Ivy B. Magdadaro, Carlo Fernandez, Christopher G. Patalinghug, and
Peter A. Chapman, Editors.
Copyright 2023. All rights reserved. ISSN: 1520-9474.
This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers. Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.
The TCR subscription rate is $975 for 6 months delivered via
e-mail. Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each. For subscription information, contact Peter A.
Chapman at 215-945-7000.
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