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

              Wednesday, January 25, 2023, Vol. 27, No. 24

                            Headlines

129 N WALNUT: May Use $35,000 in Cash Collateral Thru Feb 14
141 TROUTMAN: Unsecureds Owed $92K to Recover 50% in Plan
178-45 120 AVENUE: Taps Law Office of Narissa A. Joseph as Counsel
2 MONKEY: Court OKs Cash Collateral Access Thru Jan 26
21ST CENTURY VALET: Taps Bartko Zankel Bunzel as Labor Counsel

511 GROUP: U.S. Trustee Unable to Appoint Committee
77 VARET: Court OKs Interim Cash Collateral Access
ADJ PROPERTIES: Seek 60-Day Extension of Plan Filing Deadline
AFTERSHOCK COMICS: Wins Interim Cash Collateral Access
AIG FINANCIAL: Gets OK to Hire A&M, Appoint CRO

AIG FINANCIAL: Gets OK to Hire Young Conaway Stargatt as Co-Counsel
AIG FINANCIAL: Taps Latham & Watkins as Legal Counsel
BAOBURG INC: Seeks to Hire Sanchez LLC as Accountant
BELK INC: KKR Fund Marks $8.4M Loan at 81% Off
BOLTA US: Court OKs $7MM DIP Loan from SMP and Volkswagen

BRAZOS DELAWARE II: Moody's Raises CFR to 'B1', Outlook Stable
C & A TRANSPORTATION: Wins Cash Collateral Access Thru April 21
CAESARS ENTERTAINMENT: S&P Assigns 'B' Rating on Sr. Secured Notes
CENTRAL FLORIDA CIVIL: Court OKs Interim Cash Collateral Access
COMPUTE NORTH: Keeps Exclusive Right to Propose Bankruptcy Plan

CUMBERLAND RJ: Keeps Exclusive Right to Propose Bankruptcy Plan
DEVILLE CORP: Wins Interim Cash Collateral Access
ECO-PRESERVATION SERVICES: Gets OK to Hire Engineers of the South
EMERALD ELECTRICAL: Exclusivity Period Extended to April 1
EVOQUA WATER: S&P Places 'BB-' ICR on CreditWatch Positive

EXTRUSION GROUP: Gets More Time for Bankruptcy Plan
FARAJI ENTERPRISE: Court OKs Cash Collateral Access Thru Feb 28
FAST RADIUS: Committee Taps Potter Anderson & Corroon as Counsel
FAST RADIUS: Debtors to Seek Plan Confirmation on Feb. 22
FEDNAT HOLDING: Taps Nelson Mullins Riley as Bankruptcy Counsel

FLINT GROUP: KKR Fund Marks EUR143,300 Loan at 23% Off
FLINT GROUP: KKR Fund Marks EUR9,200 Loan at 23% Off
FLINT GROUP: KKR Fund Marks EUR99,900 Loan at 23% Off
FLOSS BAR: Taps Mandelbaum Barrett as Bankruptcy Counsel
FUTURE VALUE: U.S. Trustee Appoints Creditors' Committee

GAINWELL HOLDING: S&P Downgrades ICR to 'B-', Outlook Stable
GRAVITY HOLDINGS: Gets OK to Hire Ritchie Real Estate as Broker
HAYES BUSINESS: Court OKs Cash Collateral Access Thru Jan 31
HEIRBNB LLC: Court OKs Interim Cash Collateral Access
IDC OVERSEAS: S&P Assigns 'B/B' ICRs, Outlook Stable

INNOVATIVE XCESSORIES: KKR Fund Marks $4.3M Loan at 19% Off
INTEGRATED NANO-TECHNOLOGIES: Taps Barclay Damon as Legal Counsel
INTEGRATED PLAN: Court Confirms Reorganization Plan
JAM MEDIA: Court OK's Interim Cash Collateral Access
JOHN'S FAMILY: Unsecureds to be Paid in Full From Buyer's Plan

K&L EXCAVATING: U.S. Trustee Unable to Appoint Committee
KAISER ALUMINUM: S&P Downgrades ICR to 'BB-', Outlook Stable
KINGS 828 TRUCKING: Seeks to Hire Eric A. Liepins as Legal Counsel
LAS VEGAS SKYDIVING: Unsecureds to Recover 11.25% Under Plan
LEGACY FSRD: Wins Cash Collateral Access on Final Basis

LSF11 A5: S&P Affirms 'B' Issuer Credit Rating, Outlook Stable
MANHATTAN CAPITAL: Plan Outline WIthdrawn; Dismissal Looms
MANHATTAN CAPITAL: Starbucks Says Plan Not Feasible
MEDME SERVICES: Gets OK to Hire E.P. Bud Kirk as Bankruptcy Counsel
MILLER'S QUALITY MEATS: Seeks Cash Collateral Access

MISYS LTD: KKR Fund Marks $8M Loan at 25% Off
MONITRONICS INTERNATIONAL: KKR Fund Marks $5.3M Loan at 33% Off
MONROE GARDENS: Taps Foti Flynn Lowen & Co. as Accountant
MOVIA ROBOTICS: Court OKs Cash Collateral Access Thru Feb 2
MUSE THREADS: Court OKs Cash Collateral Access on Final Basis

MY FLORIDA CASE: U.S. Trustee Unable to Appoint Committee
NERVIVE INC: Seeks Cash Collateral Access
PAYA HOLDINGS III: Moody's Puts 'B1' CFR on Review for Upgrade
PERFORMANCE POWERSPORTS: $10MM DIP Loan from Tankas Funding OK'd
PIPELINE HEALTH: Court Confirms Reorganization Plan

PLATINUM MOVING: Bid to Use Cash Collateral Denied, Case Dismissed
PSAV INC: KKR Fund Marks $4.4M Loan at 20% Off
RUBY PIPELINE: Court Confirms Tallgrass Sale Plan
RUTGERS CASUALTY: A.M. Best Affirms bb+ ICR, Outlook Stable
SCION INTERNATIONAL: KKR Fund Marks $1.7M Loan at 31% Off

SUPERIOR REAL ESTATE: Taps Keech Law Firm as Bankruptcy Counsel
SURGERY CENTER: Moody's Confirms B3 CFR & Alters Outlook to Pos.
TALEN ENERGY: Gets More Time to Retain Control of Bankruptcy
TOP LINE GRANITE: Court OKs Cash Collateral Access Thru March 9
TRU GRIT FITNESS: U.S. Trustee Unable to Appoint Committee

VANGUARD WINES: Cash Collateral Access, $100,000 DIP Loan OK'd
VOYAGER DIGITAL: Slated to Seek Plan Confirmation on March 2
W&T OFFSHORE: Moody's Raises CFR to B3 & Alters Outlook to Stable
WHEEL PROS: KKR Fund Marks $769,700 Loan at 26% Off
XP TRANSPORT: Gets OK to Hire Gfeller Laurie as Special Counsel

XP TRANSPORT: Taps Robleto Kuruce as Bankruptcy Counsel
YAK ACCESS: KKR Fund Marks $5.6M Loan at 42% Off

                            *********

129 N WALNUT: May Use $35,000 in Cash Collateral Thru Feb 14
------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of New York
authorized 129 N Walnut Street LLC to use cash collateral on an
interim basis in accordance with the budget through February 14,
2023.

The Debtor is permitted to pay post-petition expenses of up to
$80,000 and only pay actual and necessary expenses of its operation
as set forth in the budget.

To the extent of the diminution in the value of any interest it has
in rents, Basis Multifamily Finance I LLC, is granted a first
priority lien on (i) all property acquired by the Debtor after the
filing of the case and any proceeds thereof, and (ii) any of the
Debtor's assets not already subject to Basis' alleged security
interest and any proceeds thereof -- in addition to any existing
liens it may hold on the Property and the Rents or otherwise.

As further adequate protection, the Debtor will make payment to
Basis of $27,954, on January 31, which may be paid from the Rents.
Basis will be granted an allowed superpriority administrative
expense claim, pursuant to Section 507(b) of the Bankruptcy Code,
with priority over all administrative expense claims and unsecured
claims against the Debtor, to the extent of the diminution of its
alleged interest in the value of the Rents.

Basis will not have any lien on any avoidance actions under
subchapter 5 of the Bankruptcy Code. Any substitute lien or
adequate protection claim granted will be subordinate to (i)
payment of United States Trustee's fees pursuant to 28 U.S.C. Sec.
1930 (a)(6) plus interest at the statutory rate for any fees not
paid in a timely manner, and any fees payable to the Clerk of the
Bankruptcy Court; and (ii) reasonable fees and expenses of a
Chapter 7 trustee allowable pursuant to 11 U.S.C. section 726 (b)
in an amount not to exceed $10,000.

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

                   About 129 N Walnut Street LLC

129 N Walnut Street LLC owns a 41-unit apartment building in 129 N
Walnut Street LLC. The Property is currently fully occupied. The
Property is the Debtor's sole tangible asset. The Debtor's sole
source of revenue are the rents paid by tenants at the Property.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D.N.Y. Case No. 22-42104) on September 2,
2022. In the petition signed by Samuel Rosenbaum, managing member,
the Debtor disclosed up to $10 million in both assets and
liabilities.

Judge Elizabeth S. Stong oversees the case.

The Law Offices of Isaac Nutovic is the Debtor's counsel.



141 TROUTMAN: Unsecureds Owed $92K to Recover 50% in Plan
---------------------------------------------------------
141 Troutman LLC, 243 Suydam LLC, and Union Residence LLC submitted
an Amended Chapter 11 Plan and a Revised Amended Disclosure
Statement.

The Plan seeks to implement the Debtors' prime goal of retaining
their properties by a restructuring of the underlying mortgage debt
through a negotiated cure and reinstatement thereof pursuant to 11
U.S.C Sec. 1124(2).  Following the Debtors' unsuccessful challenge
to allowance of prepetition default interest and certain other
amounts owed by the Debtors to the Senior Lender under the subject
Loan Documents, the Debtors and their senior secured lender have
negotiated a stipulation of settlement providing for an agreed cure
and reinstatement. The Mortgage Restructuring Settlement now forms
the centerpiece of the Plan and allows the Debtors the opportunity
to retain the Properties by effectuating a negotiated monetary cure
in the aggregate sum of $2,783,805.48, plus legal fees and costs.
The cure and reinstatement shall be funded by a capital
contribution from the Debtors' principals. The Mortgage
Restructuring Settlement is expressly incorporated into the Plan in
its entirety relating to the treatment of the secured claim of the
Senior Lender.  Confirmation of the Plan shall be deemed approval
of the Mortgage Restructuring Settlement pursuant to Bankruptcy
Rule 9019(a).

The Mortgage Restructuring Settlement allows the Debtors to achieve
its goal and all terms and conditions have been incorporated in the
Debtor's revised treatment of the senior secured debt in the Plan.
To the extent applicable, confirmation of the Plan shall be deemed
Bankruptcy Court approval of the Mortgage Restructuring Settlement
for purposes of Bankruptcy Rule 9019(a).

By virtue of the negotiated cure of the mortgage debt, the Debtors
will maintain ownership of their respective walk-up residential
buildings located at 141 Troutman Street, 243 Suydam Street and
555-557 Union Street (each a "Property" and, collectively, the
"Properties").  The Properties collectively house one to two
bedroom residential apartments, most of which are currently
occupied.

The mortgage debt of approximately $14 million of principal (which
covers all of the Properties under a spreader agreement) (the
"Mortgage") is currently held by Wells Fargo Bank, National
Association, as trustee for the Registered Holders of CSAIL
2019-C15 Commercial Mortgage Trust, Commercial Mortgage
Pass-Through Certificates, Series 2019-C15 (the "Senior Lender").
The Mortgage was originated in late December 2018 and went into
arrears as result of the Covid-19 pandemic, which triggered a drop
in rental income by roughly fifty percent (50%). Pre-Covid, the
Debtors were current with the Mortgage, but collections dropped to
approximately $50,000 per month during the Covid-19 pandemic.
Nevertheless, for much of 2020 and into 2021, the Debtors paid net
cash flow to the Senior Lender totaling $454,000.03. Before then,
the Debtors' principals funded full debt service during the months
of April, May and June.  Negotiations, however, came to an impasse
and the net cash flow payments ended as of November 2021 after the
start of a foreclosure action.

As part of the negotiated cure and reinstatement, the Debtors'
principals shall make a capital contribution which shall be applied
to interest arrears, other outstanding amounts due to Senior
Lender, and a principal pay-down of $500,000.  The infusion of
capital reconfirms the Principals' commitment to maintain ownership
of the Properties and addresses any new value issues that could
possibly arise.

In the event of an uncured default under the confirmed Plan, the
Mortgage Restructuring Settlement and/or the underlying Loan
Documents, the Lender is authorized to, among other remedies,
proceed with an auction sale of the Properties under 11 U.S.C. §
363(b) and (f), subject to the Senior Lender's credit bid rights,
on a post-confirmation basis. Besides a negotiated cure and
reinstatement, the Plan also provides for payment of allowed
Administrative Claims and Priority Claims, plus a pro rata
distribution to each holder of an allowed non-insider general
unsecured claim from the General Unsecured Creditor Fund.

Under the Plan, Class 3 Unsecured Claims total approximately
$92,000.  Each holder of an Allowed Class 3 Unsecured Claim shall
receive a pro rata dividend of approximately 50% from the General
Unsecured Creditor Fund in full and final satisfaction of such
holder's allowed Unsecured Claim.  Class 3 is impaired under the
Plan and eligible to vote.

The Plan shall be funded through the New Value Contributions of the
Debtors' Principals to be deposited into escrow with the Disbursing
Agent prior to the start of the Confirmation Hearing. The New Value
Contribution shall be used to fund payments due under the Plan
itemized as follows:

   a. Administrative Expense Claims        $150,000.00
   b. Priority Claims                        $2,216.86
   c. Cure to Senior Lender              $2,783,805.48
   d. General Unsecured Creditor Fund      $ 50,000.00
                                         -------------
          Total:                         $2,986,022.34


A copy of the Disclosure Statement dated Jan. 13, 2023, is
available at https://bit.ly/3CSP2po from PacerMonitor.com.

                     About 141 Troutman, et al.

141 Troutman, LLC, 243 Suydam, LLC, and Union Residence, LLC, are
owners of residential buildings in Brooklyn, New York,

141 Troutman filed a petition for Chapter 11 protection (Bankr.
E.D.N.Y. Lead Case No. 22-40337) on Feb. 24, 2022, listing
$2,372,944 in total assets and $14,537,068 in total liabilities.
243 Suydam filed for Chapter 11 protection (Bankr. E.D.N.Y. Case
No. 22-40339) on Feb. 24, 2022, listing $4,605,790 in total assets
and $14,675,136 in total liabilities. Union Residence filed for
Chapter 11 protection (Bankr. E.D.N.Y. Case No. 22-40342) on Feb.
24, 2022, listing $6,758,667 in assets and $14,536,870 in
liabilities.

The Debtors' cases are jointly administered with Judge Nancy
Hershey Lord overseeing the cases.

Goldberg Weprin Finkel Goldstein, LLP, serves as the Debtors' legal
counsel.


178-45 120 AVENUE: Taps Law Office of Narissa A. Joseph as Counsel
------------------------------------------------------------------
178-45 120 Avenue, LLC seeks approval from the U.S. Bankruptcy
Court for the Eastern District of New York to employ the Law Office
of Narissa A. Joseph as its legal counsel.

The firm's services include:

     (a) consulting with the Debtor concerning the administration
of its Chapter 11 case;

     (b) investigating the Debtor's past transactions, commencing
actions with respect to its avoiding powers under the Bankruptcy
Code, and advising the Debtor with respect to transactions entered
into during the pendency of the case;

     (c) assisting the Debtor in the formulation of a Chapter 11
plan; and

     (d) other legal services as may be required by the Debtor in
the interest of the estate.

The firm will be paid at these rates:

     Partners                        $350 to $400 per hour
     Associates                      $275 to $300 per hour
     Clerks and paraprofessionals    $75 to $100 per hour

In addition, the firm will receive reimbursement for out-of-pocket
expenses incurred.

The Debtor paid the firm an advance retainer of $5,000.

Narissa Joseph, Esq., the owner of the Law Office of Narissa A.
Joseph, 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:

     Narissa A. Joseph, Esq.
     Law Office of Narissa A. Joseph
     305 Broadway, Suite 1001
     New York, NY 10007
     Telephone: (212) 233-3060
     Email: njosephlaw@aol.com

                      About 178-45 120 Avenue

178-45 120 Avenue, LLC filed a Chapter 11 bankruptcy petition
(Bankr. E.D.N.Y. Case No. 22-42770) on Nov. 3, 2022, with as much
as $1 million in both assets and liabilities. Judge Elizabeth S.
Stong oversees the case.

The Debtor is represented by the Law Office of Narissa A. Joseph.


2 MONKEY: Court OKs Cash Collateral Access Thru Jan 26
------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida,
Orlando Division, authorized 2 Monkey Trading, LLC to use cash
collateral and provide adequate protection to the Small Business
Administration on an interim basis through January 26, 2023.

The Debtor is permitted to use cash collateral to pay: (a) amounts
expressly authorized by the Court; (b) the current and necessary
expenses set forth in the budget, plus an amount not to exceed 10%
for each line item (provided no amount will be disbursed for
pre-petition sales tax, absent proper application and entry of an
order by the Court); and (c) additional amounts as may be expressly
approved in writing by the SBA, to the extent such Creditor has an
interest in such cash collateral. The authorization will continue
until the effective date of any confirmed plan of reorganization of
the Debtor, or until further Court order.

As adequate protection, the SBA will have a perfected post-petition
lien against cash collateral to the same extent and with the same
validity and priority as its respective prepetition liens, without
the need to file or execute any document as may otherwise be
required under applicable nonbankruptcy law.

The Debtor will maintain all its insurances including liability and
casualty insurance coverage in accordance with state law and its
obligations under the agreements with its Creditors.

As additional protection for the SBA's interest in the cash
collateral, the Debtor will make regular monthly payments in the
amount of $2,437 on the loan up to the effective date of any
confirmed plan of reorganization of the Debtor. The monthly
payments will be applied by SBA as provided for in its loan
documents and agreements with the Debtor.

A continued hearing on the matter is set for January 26, 2023 at 11
a.m.

A copy of the order and the Debtor's budget is available at
https://bit.ly/3J4Ah6J from PacerMonitor.com.

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

     $201,395 for January 2023;
     $220,782 for February 2023;
     $241,054 for March 2023;
     $225,717 for April 2023; and
     $226,838 for May 2023.

               About 2 Monkey Trading, LLC

2 Monkey Trading, LLC sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 22-04099) on
November 17, 2022. In the petition signed by Douglas Ingalls,
manager, the Debtor disclosed up to $500,000 in assets and up to
$10 million in liabilities.

Judge Tiffany P. Geyer oversees the case.

Michael A. Nardella, Esq., at Nardella and Nardella, PLLC, is the
Debtor's counsel.



21ST CENTURY VALET: Taps Bartko Zankel Bunzel as Labor Counsel
--------------------------------------------------------------
21st Century Valet Parking, LLC received approval from the U.S.
Bankruptcy Court for the Central District of California to employ
Bartko Zankel Bunzel & Miller as its special labor and employment
counsel.

The firm's services include:

   a. advising and representing the Debtor in proceedings pending
before the National Labor Relations Board concerning unionization
and unfair labor practices;

   b. advising the Debtor concerning employment regulation and
labor laws;

   c. defending the Debtor in NLRB proceedings and other
employment-related matters; and

   d. providing assistance in other matters related to human
resources, labor and employment.

Bartko's billing rates are as follows:

     An Nguyen Ruda, Esq.    $595 per hour
     Partners                $495 to $595 per hour
     Associates              $425 per hour
     Paraprofessionals       $275  per hour

An Nguyen Ruda, Esq., a partner at Bartko, 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:

     An Nguyen Ruda, Esq.
     Bartko Zankel Bunzel & Miller
     1 Embarcadero Ctr #800
     San Francisco, CA 94111
     Phone: +1 415-956-1900/+1 415-291-4534
     Email: aruda@bzbm.com

                  About 21st Century Valet Parking

21st Century Valet Parking, LLC sought protection under Chapter 11
of the U.S. Bankruptcy Code (Bankr. C.D. Calif. Case No. 22-11415)
on Dec. 6, 2022. In the petition signed by its managing member,
Stepan Kazaryan, the Debtor disclosed up to $50,000 in assets and
up to $500,000 in liabilities.

Judge Victoria S. Kaufman oversees the case.

Vahe Khojayan, Esq., at YK Law, LLP and Bartko Zankel Bunzel &
Miller serve as the Debtor's bankruptcy counsel and special labor
and employment counsel, respectively.


511 GROUP: U.S. Trustee Unable to Appoint Committee
---------------------------------------------------
The U.S. Trustee for Region 21, until further notice, will not
appoint an official committee of unsecured creditors in the Chapter
11 case of 511 Group, LLC, according to court dockets.
    
                        About 511 Group
  
511 Group, LLC sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. S.D. Fla. Case No. 22-19644) on Dec. 19, 2022, with up
to $1 million in assets and up to $500,000 in liabilities. Judge
Robert A. Mark oversees the case.

Joel M. Aresty, Esq., at Joel M. Aresty, PA is the Debtor's legal
counsel.


77 VARET: Court OKs Interim Cash Collateral Access
--------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of New York
authorized 77 Varet Holding Corp., as Member Debtor, and 162-164
82nd St. LLC, as Property Debtor, to use cash collateral on an
interim basis in accordance with their agreement with East 82nd
Holdco LLC as assignee of Dime Community Bank.

The Debtors need access to funds through the use of cash collateral
to enable them to preserve and enhance the value of their assets
for the benefit of creditors.

Prior to the bankruptcy filing date, the Lender's
predecessor-in-interest, Dime Community Bank, made a loan to
162-164 82nd in the original maximum principal amount of $10.5
million, evidenced by the Consolidated and Restated Mortgage Note
dated as of June 15, 2017 executed by 162-164 82nd in favor of Dime
in the amount of $10.5 million.

The Parties acknowledge and agree that the Mortgage Loan is secured
by, among other things, the Consolidation, Modification and
Extension Agreement, dated as of June 15, 2017, executed by 162-164
82nd in favor of Dime and by other security instruments, if any,
specified in the Mortgage Loan Documents.

Prior to the Filing Date, Dime made a mezzanine loan to Varet in
the original maximum principal amount of $1.5 million, evidenced by
the Mezzanine Promissory Note dated as of June 15, 2017 executed by
Borrower in favor of Dime in the amount of $1.5 million.

The Parties acknowledge and agree that the Mezzanine Loan is
secured by, among other things, the Pledge and Security Agreement,
dated as of June 15, 2017, executed by Borrower in favor of Dime
and by other security instruments specified in the Mezzanine Loan
Documents.

Before the Filing Date, on June 29, 2021, Dime sold and assigned
the Prepetition Loan Documents to Lender.

As of the Varet Filing Date, Varet was, and still is, indebted to
Lender in the amount of not less than $2.058 million plus accrued
and unpaid costs and expenses.

As of the 162-164 82nd Filing Date, 162-164 82nd was, and still is,
indebted to Lender in the amount of not less than $15.492 million,
plus accrued and unpaid interest and costs and expenses.

The Lender has consented to the use by the Debtors of cash
collateral during the period from and including the Varet Filing
Date (September 21, 2022) to and including the Termination Date to
pay the Debtors' ordinary and necessary administrative expenses.

The Debtors' use of cash collateral upon consent of the Lender will
terminate on the date which is the earliest to occur of:

     (a) February 28, 2023;
     (b) entry of an order by the Court confirming a
         chapter 11 plan or plans; or
     (c) a Default Event.

As adequate protection, the Lender is granted a valid, perfected,
and enforceable first-priority security interest in and lien on all
of the following property, assets and rights of the Debtors.

To the extent of the diminution of value of the Lender's interest
in the Debtors' assets, the Lender is granted replacement liens in
the Debtors' post-Filing Date assets.

The security interests and liens granted to the Lender will be
senior to any other security interest or lien, subject only to (a)
valid, perfected, enforceable and non-avoidable liens on and
security interests in such property, assets, and rights existing as
of the Varet Filing Date or the 162-164 82nd Filing Date, and (b)
the payment of (i) allowed professional fees and disbursements
incurred and to be incurred by the Debtors and their retained
professionals  to the extent that such fees and disbursements are
allowed by the Court as administrative expenses in an amount not to
exceed in the aggregate $100,000; (ii) fees and disbursements
incurred and to be incurred by David Goldwasser as the Debtors'
chief restructuring officer to the extent that such fees and
disbursements are allowed by the Court by order(s) entered pursuant
to the applicable provisions of the Bankruptcy Code and Bankruptcy
Rules after notice and a hearing as administrative expenses in an
amount not to exceed in the aggregate $100,000; (iii) allowed fees
or commissions incurred by Rosewood Realty Group under a
Court-approved retention agreement as special real estate advisor
for the Debtors, allowed by the Court by order(s) entered pursuant
to the applicable provisions of the Bankruptcy Code and Bankruptcy
Rules after notice and a hearing as an administrative expense
solely upon Court approval of a credit bid by Lender for the
Property, in which case, the fee is to be paid by Lender equal to
1.5% of the Lender's approved credit bid (for the avoidance of
doubt, the Lender will not be liable for any fees or commissions
owed to Rosewood Realty Group upon a Court-approved sale,
refinancing, or other disposition of the Property); (iv) fees under
28 U.S.C. section 1930 and any applicable interest pursuant to 31
U.S.C. section 3717; and (v) all reasonable fees and expenses up to
$10,000 of a Chapter 7 Trustee.

The Debtors are directed to pay the amount of at least $20,000
(plus any other net cash flow after reserving or paying budgeted
items) on the first calendar day of each and every month, beginning
on December 1, 2022 and continuing each month thereafter.

A final hearing on the matter is set for February 7 at 11:30 a.m.

A copy of the stipulation is available at https://bit.ly/3Jc9Uf7
from PacerMonitor.com.

A copy of the order is available at https://bit.ly/3Hs0cnx from
PacerMonitor.com.

                  About 77 Varet Holding Corp.

77 Varet Holding Corp. sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 22-42316) on Sept.
21, 2022. In the petition filed by David Goldwasser, as manager,
the Debtor reported assets between $10 million and $50 million and
liabilities between $1 million and $10 million.

Judge Nancy Hershey Lord oversees the case.

The Debtor is represented by Kevin J. Nash, Esq., at Goldberg
Weprin Finkel Goldstein LLP, as counsel.



ADJ PROPERTIES: Seek 60-Day Extension of Plan Filing Deadline
-------------------------------------------------------------
ADJ Properties, LLC, and ALJ Properties, LLC, filed with the
Bankruptcy Court a motion to extend the deadline to file the
combined Chapter 11 plan and disclosure statement until April 14,
2023.

Prior to filing their Chapter 11 petitions, the Debtors, along with
Vintage, engaged in an extensive marketing plan to sell their
assets as going concerns in order to maximize value for their
creditors.

The Debtors have continued to market their assets post-petition.
However, due to market conditions, increased interest rates and the
intervening holiday season, the Debtors have not received an offer
to purchase.  Vintage's full-service banquet facility along with
both Debtors' properties have been marketed as a going concern with
a listing price of $4,500,000. On Jan. 9, 2023, the listing price
was lowered to $4,300,000 and a national e-mail blast was forwarded
to potential purchasers.

To ensure that the Debtors' assets can be adequately marketed
during these bankruptcy proceedings to generate a potentially
greater distribution to creditors, the Debtors request an extension
of 60 days of the deadline to April 14, 2023, to file their
combined plan and disclosure statement.

Counsel for the Debtors:

     Lynn M. Brimer, Esq.
     Pamela S. Ritter, Esq.
     Anthony M. Cimini, Esq.
     STROBL PLLC
     33 Bloomfield Hills Parkway, Ste. 125
     Bloomfield Hills, MI 48304
     Tel: (248) 540-2300
     Fax: (248) 645-2690
     E-Mail: lbrimer@strobllaw.com
             pritter@strobllaw.com

                    About ADJ Properties

ADJ Properties LLC and ALJ Properties, LLC are each a Single Asset
Real Estate (as defined in 11 U.S.C. Sec. 101(51B)).

ADJ Properties LLC and ALJ Properties, LLC filed for relief under
Subchapter V of Chapter 11 of the Bankruptcy Code (Bankr. E.D.
Mich. Case No. 22-48074 and 22-48075) on Oct. 17, 2022.  In the
petition filed by Anthony Jekielek, as member, ADJ reported assets
and liabilities between $1 million and $10 million.  The Debtors
are represented by attorneys at Strobl Sharp PLLC.


AFTERSHOCK COMICS: Wins Interim Cash Collateral Access
------------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California,
San Fernando Valley Division, authorized AfterShock Comics, LLC to
use cash collateral on an interim basis.

The Debtor is permitted to use cash collateral including the funds
that are currently in, or were in the Holding Account to pay
$102,815 for certain wages, commissions, and health insurance
amounts that are set forth in the Debtors' revised cash collateral
budget.

As adequate protection, Access Road is granted replacement Adequate
Protection Liens on, and security interests in, the assets of the
Debtors' estates, with the same extent, validity, and priority as
Access Road's pre-petition liens on pre-petition collateral and all
post-petition proceeds obtained by the Debtors from such
pre-petition collateral.

Access Road will receive superpriority expense claims against the
Debtors' estates under section 507(b) of the Bankruptcy Code to the
extent of any diminution in Access Road's collateral after the
petition date resulting from the Debtors' use of cash  collateral.

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

                     About AfterShock Comics

AfterShock Comics, LLC -- https://Aftershockcomics.com -- is an
American comic book publisher launched in 2015. The company is
based in Sherman Oaks, Calif.
AfterShock Comics and affiliate Rive Gauche Television filed
petitions for relief under Chapter 11 of the Bankruptcy Code
(Bankr. Lead C.D. Calif. Case No. 22-11456) on Dec. 19, 2022.

At the time of filing, AfterShock Comics reported $10 million to
$50 million in both assets and liabilities while Rive Gauche
reported $50 million to $100 million in assets and $10 million to
$50 million in liabilities.

Judge Martin R. Barash oversees the cases.

The Debtors are represented by David L. Neale, Esq., at Levene,
Neale, Bender, Yoo & Golubchik L.L.P.



AIG FINANCIAL: Gets OK to Hire A&M, Appoint CRO
-----------------------------------------------
AIG Financial Products Corp. received approval from the U.S.
Bankruptcy Court for the District of Delaware to employ Alvarez &
Marsal North America, LLC and designate William Kosturos, the
firm's managing director, as chief restructuring officer.

The Debtor requires the firm's assistance to:

     (a) evaluate strategic alternatives and implementation
efforts;

     (b) review historical financial position of the Debtor over
periods of time selected by the Debtor and the development of a
historical set of facts underlying such financial position;

     (c) review and respond to issues arising from or related to
existing and potential litigation arising from claims of
participants in the Debtor's deferred compensation plans as
requested by the special committee of the Debtor's board of
directors or its counsel;

     (d) review and respond to issues arising from or related to
any other existing and potential litigation as requested by the
special committee or its counsel;

     (e) assist the Debtor with its treasury activities, including
developing short-term cash flow forecasting and planning for
alternatives as requested by the special committee;

     (f) analyze the Debtor's financial positions and other such
forecasts as may be required;

     (g) participate in discussions with and provide information to
potential parties in interest and the Office of the U.S. Trustee
for the District of Delaware;

     (h) assist the overall financial reporting division in
managing the administrative requirements of the Bankruptcy Code,
including post-petition reporting requirements and claim
reconciliation efforts;

     (i) report to the special committee; and

     (j) perform other activities approved by the special committee
and agreed to by the firm.

The hourly rates charged by the firm are as follows:

     Managing Director     $975 to $1,295 per hour
     Director              $750 to $950 per hour
     Associates            $550 to $750 per hour

The Debtor has agreed to pay A&M a flat monthly fee of $160,000 for
the services of the CRO.

Mr. Kosturos disclosed in court filings that his firm is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

Mr. Kosturos can be reached at:

     William C. Kosturos
     Alvarez & Marsal North America, LLC
     600 Madison Avenue, 8th Floor
     New York, NY 10022
     Tel: (212) 759-4433
     Fax: (212) 759-5532
     Email: bkosturos@alvarezandmarsal.com

                About AIG Financial Products Corp.

AIG Financial Products Corp. is a wholly- owned, direct subsidiary
of American International Group, Inc. It is a Delaware corporation
founded in 1987 and based in Wilton, Conn., is a financial products
company. It was founded for the purpose of trading in the capital
markets and offering corporate finance, structured finance, and
financial risk management products, including complex derivatives
transactions.

AIG Financial Products filed a petition under Chapter 11 of the
Bankruptcy Code (Bankr. Del Case No. 22-11309) on Dec. 14, 2022,
with $100 million to $500 million in assets and $10 billion to $50
billion liabilities.

Judge Mary F. Walrath oversees the case.

Young Conaway Stargatt & Taylor, LLP and Latham & Watkins LLP are
the Debtor's legal counsels while Alvarez & Marsal North America,
LLC is the financial advisor. William C. Kosturos, managing
director at Alvarez & Marsal, serves as the Debtor's chief
restructuring officer. Epiq Corporate Restructuring, LLC is the
claims and noticing agent.


AIG FINANCIAL: Gets OK to Hire Young Conaway Stargatt as Co-Counsel
-------------------------------------------------------------------
AIG Financial Products Corp. received approval from the U.S.
Bankruptcy Court for the District of Delaware to employ Young
Conaway Stargatt & Taylor, LLP to serve as co-counsel with Latham &
Watkins, LLP.

The firm's services include:

     a. providing legal advice and services regarding local rules,
practices and procedures and providing substantive and strategic
advice on how to accomplish the Debtor's goals in connection with
the prosecution of the Chapter 11 case;

     b. reviewing, commenting and preparing drafts of documents to
be filed with the court;

     c. appearing in court and at any meeting with the U.S. Trustee
for the District of Delaware and creditors;

     d. performing various services in connection with the
administration of the Chapter 11 case, including, without
limitation, (i) preparing agenda letters, certificates of no
objection, certifications of counsel, notices of fee applications
and hearings and hearing binders of documents and pleadings; (ii)
monitoring the docket for filings and coordinating with Latham &
Watkins on pending matters that need responses; (iii) preparing and
maintaining critical dates memoranda to monitor pending
applications, motions, hearing dates and other matters and the
deadlines associated with the same; (iv) handling inquiries and
calls from creditors and counsel to interested parties regarding
pending matters and the general status of the Chapter 11 case and
(v) coordinating with Latham & Watkins on any necessary responses;

     e. preparing for, and pursuing, confirmation and approval of a
plan and disclosure statement; and

     f. other services assigned by the Debtor, in consultation with
Latham & Watkins.

Young will be paid at these rates:

     Michael R. Nestor          $1,105 per hour
     Kara Hammond Coyle         $825 per hour
     Shane M. Reil              $625 per hour
     Catherine C. Lyons         $500 per hour
     Troy Bollman (paralegal)   $325 per hour

The firm received from the Debtor an initial retainer of $100,000.

Kara Hammond Coyle, Esq., a partner at Young, disclosed in a court
filing that the firm is a "disinterested person" 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, Young
disclosed the following:

     -- The firm 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
case.

     -- The firm was retained by the Debtor pursuant to an
engagement agreement dated July 25, 2022.  The billing rates and
material terms of the pre-bankruptcy engagement are the same as the
rates and terms post-petition.

     -- The Debtor has approved a prospective budget and staffing
plan for the firm's engagement for the post-petition period.

Young can be reached through:

     Michael R. Nestor, Esq.
     Kara Hammond Coyle, Esq.
     Shane M. Reil, Esq.
     Catherine C. Lyons, Esq.
     Rodney Square
     1000 North King Street
     Wilmington, DE 19801
     Tel: (302) 571-6600
     Fax: (302) 571-1253
     Email: mnestor@ycst.com
            kcoyle@ycst.com
            sreil@ycst.com
            clyons@ycst.com

                About AIG Financial Products Corp.

AIG Financial Products Corp. is a wholly- owned, direct subsidiary
of American International Group, Inc. It is a Delaware corporation
founded in 1987 and based in Wilton, Conn., is a financial products
company. It was founded for the purpose of trading in the capital
markets and offering corporate finance, structured finance, and
financial risk management products, including complex derivatives
transactions.

AIG Financial Products filed a petition under Chapter 11 of the
Bankruptcy Code (Bankr. Del Case No. 22-11309) on Dec. 14, 2022,
with $100 million to $500 million in assets and $10 billion to $50
billion liabilities.

Judge Mary F. Walrath oversees the case.

Young Conaway Stargatt & Taylor, LLP and Latham & Watkins LLP are
the Debtor's legal counsels while Alvarez & Marsal North America,
LLC is the financial advisor. William C. Kosturos, managing
director at Alvarez & Marsal, serves as the Debtor's chief
restructuring officer. Epiq Corporate Restructuring, LLC is the
claims and noticing agent.


AIG FINANCIAL: Taps Latham & Watkins as Legal Counsel
-----------------------------------------------------
AIG Financial Products Corp. seeks approval from the U.S.
Bankruptcy Court for the District of Delaware to employ Latham &
Watkins, LLP as its legal counsel.

The firm's services include:

     a. advising the Debtor with respect to its powers and duties
in the continued management of its remaining operations and
continued winddown;

     b. advising and consulting on the conduct of the Chapter 11
case, including all of the legal and administrative requirements of
operating in Chapter 11;

     c. advising the Debtor and taking all necessary action 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's interests in
negotiations concerning litigation in which it is involved;

     d. analyzing proofs of claim filed against the Debtor and
objecting to such claims as necessary;

     e. representing the Debtor in connection with obtaining
authority to continue using cash collateral and, if necessary,
post-petition financing;

     f. attending meetings and negotiating with representatives of
creditors, interest holders, and other parties in interest;

     g. analyzing executory contracts and unexpired leases and
potential assumptions, assignments or rejections of such contracts
and leases;

     h. preparing pleadings;

     i. taking necessary action to obtain approval of a disclosure
statement and confirmation of a Chapter 11 plan;

     j. appearing before the bankruptcy court or any appellate
courts;

     k. advising on corporate, litigation, finance, tax, and other
legal matters; and

     l. other necessary legal services.

Latham & Watkins will be paid at these rates:

     Partners           $1,265 to $2,075 per hour
     Counsel            $1,210 to $1,720 per hour
     Associates           $655 to $1,300 per hour
     Professional Staff     $190 to $965 per hour
     Paralegals             $270 to $600 per hour

In addition, the firm will receive reimbursement for out-of-pocket
expenses incurred.

The firm received from the Debtor a retainer of $500,000.

Keith Simon, Esq., a partner at Latham & Watkins, 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.

In accordance with Appendix B-Guidelines for reviewing fee
applications filed by attorneys in larger Chapter 11 cases, Latham
& Watkins disclosed the following:

   Question:  Did you agree to any variations from, or alternatives
to, your standard or customary billing arrangements for this
engagement?

   Response:  No.

   Question:  Do any of the professionals included in this
engagement vary their rate based on the geographic location of the
bankruptcy case?

   Response:  No.

   Question:  If you represented the client in the 12 months
pre-petition, disclose your billing rates and material financial
terms for the pre-petition engagement, including any adjustments
during the 12 months pre-petition. If your billing rates and
material financial terms have changed post-petition, explain the
difference and the reasons for the difference.

   Response:  Not applicable.

   Question:  Has your client approved your prospective budget and
staffing plan, and, if so for what budget period?

   Response:  The firm has provided the Debtor with a prospective
budget and staffing plan setting forth the types of timekeepers,
numbers thereof, and applicable hourly rates it expects during the
Chapter 11 case, which have been approved by the Debtor. The budget
and staffing plan cover the period from the petition date through
April 2023.

Latham & Watkins can be reached at:

     George A. Davis, Esq.
     Keith A. Simon, Esq.
     David Hammerman, Esq.
     Annemarie V. Reilly, Esq.
     Madeleine C. Parish, Esq.
     Latham & Watkins LLP
     1271 Avenue of the Americas
     New York, NY 10020
     Tel: (212) 906-1200
     Fax: (212) 751-4864
     Email: george.davis@lw.com
            keith.simon@lw.com
            david.hammerman@lw.com
            annemarie.reilly@lw.com
            madeleine.parish@lw.com

                About AIG Financial Products Corp.

AIG Financial Products Corp. is a wholly- owned, direct subsidiary
of American International Group, Inc. It is a Delaware corporation
founded in 1987 and based in Wilton, Conn., is a financial products
company. It was founded for the purpose of trading in the capital
markets and offering corporate finance, structured finance, and
financial risk management products, including complex derivatives
transactions.

AIG Financial Products filed a petition under Chapter 11 of the
Bankruptcy Code (Bankr. Del Case No. 22-11309) on Dec. 14, 2022,
with $100 million to $500 million in assets and $10 billion to $50
billion liabilities.

Judge Mary F. Walrath oversees the case.

Young Conaway Stargatt & Taylor, LLP and Latham & Watkins LLP are
the Debtor's legal counsels while Alvarez & Marsal North America,
LLC is the financial advisor. William C. Kosturos, managing
director at Alvarez & Marsal, serves as the Debtor's chief
restructuring officer. Epiq Corporate Restructuring, LLC is the
claims and noticing agent.


BAOBURG INC: Seeks to Hire Sanchez LLC as Accountant
----------------------------------------------------
Baoburg, Inc. seeks approval from the U.S. Bankruptcy Court for the
Eastern District of New York to employ Sanchez LLC as accountant.

The firm's services include:

     a) assisting in the preparation of, and reviewing, monthly
operating reports, budgets and projections;

     b) assisting with payroll;

     c) reviewing the filed claims for reasonableness against the
Debtor's records and filing schedules;

     d) attending meetings and hearings with the Debtor and its
counsel;

     e) assisting in preparing any financial documents needed to
seek confirmation of a plan of reorganization; and

     f) amending or completing any tax returns that have not been
filed or were filed incorrectly.

The firm will be paid at the rate of $350 per hour.

In addition, the firm will receive reimbursement for out-of-pocket
expenses incurred.

Pablo Sanchez, a partner at Sanchez LLC, 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:

     Pablo Sanchez
     Sanchez LLC
     40-20 58th Street
     Woodside, NY 11377
     Tel: (718) 489-9600

                        About Baoburg Inc.

Baoburg, Inc. operates a restaurant that offers Southeast Asian
comfort food. The restaurant is located in Kings County in the
neighborhood commonly referred to as Greenpoint.

Baoburg filed a voluntary petition for relief under Subchapter V of
Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No.
22-41860) on Aug. 1, 2022, with up to $50,000 in assets and up to
$1 million in liabilities. Jolene Wee has been appointed as
Subchapter V trustee.

Judge Elizabeth S. Stong oversees the case.

Norma E. Ortiz, Esq., at Ortiz & Ortiz, LLP and Sanchez, LLC are
the Debtor's legal counsel and accountant, respectively.


BELK INC: KKR Fund Marks $8.4M Loan at 81% Off
----------------------------------------------
KKR Income Opportunities Fund has marked its $8,488,429 loan
extended to Belk Inc to market at $1,577,957 or 19% of the
outstanding amount, as of October 31, 2022, according to a
disclosure contained in the KKR Fund's Form N-CSR for the fiscal
year ended October 31, 2022, filed with the Securities and Exchange
Commission on January 6, 2023.

KKR IOF is a participant in a first lien term exit loan to Belk
Inc. The loan accrues interest at a rate of 10% (8.00% PIK, 5.00%)
per annum.  The loan matures on July 31, 2025.

KKR IOF was organized on March 17, 2011 as a statutory trust under
the laws of the State of Delaware. The Fund is a closed-end
registered management investment company, which commenced
operations on July 25, 2013. The Fund seeks to generate a high
level of current income, with a secondary objective of capital
appreciation. The Fund is diversified for purposes of the
Investment Company Act of 1940, as amended. KKR Credit Advisors
(US) LLC serves as the Fund’s investment adviser.

Belk Inc, is an American department store chain founded in 1888 by
William Henry Belk in Monroe, North Carolina.  Now based in
Charlotte, North Carolina, serves customers at nearly 300 Belk
stores in 16 Southeastern states, at belk.com and through the
mobile app.



BOLTA US: Court OKs $7MM DIP Loan from SMP and Volkswagen
---------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Alabama,
Western Division, authorized Bolta US Ltd. to use cash collateral
and obtain postpetition financing, on an interim basis.

The Debtor obtained secured postpetition financing from SMP
Automotive Systems Alabama Inc. and Volkswagen Group of America
Chattanooga Operations, LLC in the form of postpetition advances
not to exceed $7 million.

The Lenders will make postpetition advances to the Debtor, provided
that the principal amount of the requested postpetition advance and
all other postpetition advances outstanding as of such date, will
not exceed $3.6 million, provided that if the Final Hearing on the
Motion occurs after February 3, 2023, the Interim Cap will be $5.1
million. Each Lender will be responsible for making its respective
Pro Rata Share of each requested advance. "Pro Rata Share"
initially means 69.47% for SMP and 30.53% for VW.

The Debtor's ability to request advances under the Interim Order
and the Postpetition Notes will terminate on the earlier of the
date of February 6, 2023 or upon an Event of Default, unless the
Termination Date is extended by written stipulation of Lenders and
Debtor.

The events of default include:

     a. The Debtor defaults in performance of any of its
obligations under the Interim Order or under the DIP Loan
Documents;

     b. Entry of an order dismissing the Case, appointing a trustee
in the Case, converting the Case to a case under chapter 7 of the
Bankruptcy Code, or transferring the venue of the Case to another
district;

     c. The Debtor repudiates or breaches its obligations, or
refuses to perform its obligations under the various nominating
agreements, purchase agreements, release requests, purchase orders
or other agreements with respect to the manufacturing of component
parts or tooling for the Lenders, including any Lender's general
terms and conditions of purchase, the consequence of which is a
substantial likelihood that a Lender's production will be
interrupted, and as long as such repudiation or breach was not
caused by a Lender's breach of the Purchase Orders or its failure
to comply with the Order, including its obligations to fund the
Postpetition Indebtedness and accelerate payments for postpetition
shipments under the Purchase Orders; and

     d. The Debtor experiences a material adverse change, the
consequence of which is a substantial likelihood that any Lender's
production will be interrupted.

As of the Petition Date, the Debtor was obligated to SMP, VW, and
Rehau for unsecured loans made by the customers to the Debtor
commencing in January 2022 and continuing until December 2022, as
evidenced by various Draw-To Notes. The Debtor made no payments to
SMP, VW or Rehau under the Draw-To Notes prior to the Petition
Date. As of the Petition Date, the Debtor owed the following
amounts on account of the Prepetition Obligations:

     -- to SMP, the principal amount of $6.251 million plus accrued
interest and expenses;

     -- to VW, the principal amount of $2.255 million plus accrued
interest and expenses; and

     -- to Rehau, the principal amount of $2.376 million plus
accrued interest and expenses.

The Lenders' security interest in the DIP Collateral is junior only
to the prepetition security interests of ICICI Bank, Deutsche
Leasing and Porter in their respective Prepetition Collateral, to
the extent that such security interests are valid, binding and
unavoidable, the Adequate Protection Liens and the Carve-Out.

As adequate protection under sections 361 and 363 of the Bankruptcy
Code for any diminution in value of the Prepetition Collateral of
the Prepetition Lenders:

     a. ICICI Bank and Porter will be each granted a continuing and
replacement security interest and lien in all inventory of the
Debtor that is acquired after the Petition Date, to the same extent
and respective priority that the liens of ICICI Bank and Porter
attached to inventory as of the Petition Date;

     b. Porter will maintain its lien on the Debtor's prepetition
accounts receivable, the proceeds of which will at the election of
the Debtor with the consent of Lenders either be (i) paid by the
Debtor to Porter (or if received in Porter's lockbox, applied by
Porter) as and when collected and applied to the Debtor's
outstanding pre-petition obligations to Porter until paid in full
or (ii) segregated until the Debtor (or Porter in its lockbox) is
holding proceeds sufficient to pay Porter's prepetition claim in
full, at which time the excess funds will be available for use by
the Debtor in accordance with the Budget and will be turned over by
Porter to the Debtor (to the extent such excess funds are received
by Porter); and

     c. The Debtor will continue to make the regularly scheduled
monthly payments to Deutsche Leasing as set forth in the Budget.

The Adequate Protection Liens are junior and subordinate to the
Carve-Out.

A final hearing on the matter is set for February 6 at 1 p.m.

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

                        About Bolta US Ltd.

Bolta US Ltd. is an auto parts manufacturer in Tuscaloosa, Alabama.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ala. Case No. 23-70042) on January 13,
2023. In the petition signed by Jeffrey Truitt, chief
restructuring officer, the Debtor disclosed up to $50 million in
assets and up to $100 million in liabilities.

Judge Jennifer H. Henderson oversees the case.

Stephen Gross, Esq., at McDonald Hopkins, LLC, is the Debtor's
legal counsel.

The Debtor also tapped Rosen Harwood, P.C. as local bankruptcy
co-counsel and Winter McFarland, LLC as special counsel.



BRAZOS DELAWARE II: Moody's Raises CFR to 'B1', Outlook Stable
--------------------------------------------------------------
Moody's Investors Service upgraded Brazos Delaware II, LLC's
Corporate Family Rating to B1 from B2 and assigned a B1 rating to
its proposed $800 million senior secured term loan due 2030. The
outlook remains stable.

Brazos is refinancing the outstanding amount of its $830 million
senior secured term loan due 2025 with proceeds from a proposed
$800 million senior secured term loan 2030 and cash on the balance
sheet. As part of the transaction, it is also refinancing its $90
million senior secured super priority revolver due 2024 (unrated)
with a proposed $150 million senior secured super priority revolver
due 2028 (unrated).

"The upgrade of Brazos' ratings reflects Moody's expectation for
continued growth in EBITDA and deleveraging, and positive free cash
flow generation, supported by increasing volumes on the company's
midstream system in the Delaware Basin," commented Jonathan Teitel,
a Moody's analyst.

Upgrades:

Issuer: Brazos Delaware II, LLC

Corporate Family Rating, Upgraded to B1 from B2

Probability of Default Rating, Upgraded to B1-PD from B2-PD

Assignments:

Issuer: Brazos Delaware II, LLC

Senior Secured 1st Lien Term Loan B, Assigned B1 (LGD4)

Outlook Actions:

Issuer: Brazos Delaware II, LLC

Outlook, Remains Stable

RATINGS RATIONALE

The upgrade of Brazos' CFR to a B1 reflects improving financial
leverage, and good liquidity supported by positive free cash flow
generation as the company grows volumes and EBITDA. Moody's expects
Brazos' interest coverage to remain solid in 2023 even though
affected by rising interest rates.

Brazos's revenues are supported by customers' acreage dedications
in the highly economic Delaware Basin within the broader Permian
Basin. The revenue is concentrated among top customers, but these
include strong producers from both a credit profile and operational
capability perspective. Contracts are long-term and benefit from
fixed fee pricing, with modest exposure to commodity price risk and
volume risk. Brazos generates a small portion of revenue from its
own sale of processed residue gas, natural gas liquids and
condensate recovered while processing natural gas.

Moody's expects Brazos to generate solid free cash flow in 2023.
The capital expenditures will be driven by well connections and
need to add compression units to support volume growth. Growth in
volumes could result in the need for additional processing capacity
toward the end of 2024. Moody's expects that the company will use
its operating cash flow, accumulated cash balances and some
borrowing to fund growth capital in a manner that maintains the
company's recently reduced level of leverage.

Moody's expects Brazos to maintain good liquidity into 2024. As of
December 31, 2022 and pro forma for the refinancing transaction,
the company would have roughly $45 million of cash. The new $150
million revolver due 2028 will be undrawn at close of the
transaction. The revolver and term loan will have minimum debt
service coverage ratio covenants of 1.1x. The revolver will also
have a maximum super senior leverage ratio of 1.25x. Moody's
expects Brazos to maintain good cushion to these covenants through
2023.

Brazos' proposed $800 million senior secured term loan due 2030 is
rated B1, the same rating level as the CFR, because it comprises
the preponderance of the company's debt. The proposed $150 million
revolver due 2028 will have a super priority ranking over the term
loan. Moody's expects Brazos to generate solid free cash flow and
not to rely on borrowing under its revolver in 2023-24. Greater
than expected usage of the revolver or an increase in size of the
revolver could result in a downgrade of the term loan rating.

The stable outlook reflects Moody's expectation for growing volumes
on Brazos' system to support higher EBITDA, and for leverage to be
maintained below 4.5x.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

Factors that could lead to an upgrade include significantly
increased scale, debt/EBITDA below 3.5x, positive free cash flow,
maintenance of good liquidity and conservative financial policies.

Factors that could lead to a downgrade include debt/EBITDA above
4.5x, negative free cash flow or weakening liquidity.

Brazos, headquartered in Fort Worth, Texas, is a privately held
company that owns a natural gas and crude oil midstream
infrastructure system in the Delaware Basin in Texas, within the
broader Permian Basin. Brazos is majority-owned by North Haven
Infrastructure Partners II for which Morgan Stanley Infrastructure,
Inc. is advisor and manager. Williams MLP Operating, LLC (a
subsidiary of The Williams Companies, Inc., Baa2 stable) owns 15%
of Brazos.

The principal methodology used in these ratings was Midstream
Energy published in February 2022.


C & A TRANSPORTATION: Wins Cash Collateral Access Thru April 21
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Georgia, Maco
Division, authorized C & A Transportation, Inc. to use cash
collateral on an interim basis in accordance with its agreement
with M&T Equipment Finance Corporation f/k/a People's United
Equipment Finance Corp.

As of the Petition Date, M&T Equipment alleges it held a secured
claim in the amount of $343,242 and an additional contingent
secured claim of $36,318 if M&T Equipment's collateral is
liquidated.  Those claims arose from:

     a. a Promissory Note entered into and executed by the Debtor
in favor of M&T Equipment Bank on March 15, 2022, for a total
payment amount of $436,224, consisting of principal in the amount
of $359,953, with interest accruing at the rate of 9.35% per annum
prior to default and 24% per annum after default and repayable in
48 regular payments of $9,088. The Note renewed a Promissory Note
entered into and executed by the Debtor in favor of M&T Equipment
Bank on June 12, 2019 and extended additional credit related to the
purchase of ten 2020 Hyundai Translead Van Trailers.

     b. a Security Agreement entered into and executed by the
Debtor in favor of M&T Equipment on June 12, 2019 and a Security
Agreement entered into and executed by the Debtor in favor of M&T
Equipment on March 15, 2022.

The Debtor is permitted to use the cash collateral of M&T Equipment
until and including April 21, 2023.

As adequate protection, beginning on April 1, 2023 and continuing
on the first day of each month thereafter, the Debtor will pay M&T
Equipment monthly installment payments calculated by reducing the
outstanding balance of M&T Equipment's secured claim by the
insurance proceeds received from the insurance claim related to the
Damaged Tractor and amortizing the remaining balance of principal,
interest, late fees and actual attorney's fees over a period of
sixty months with interest accruing at the rate of 9.35% per annum
until the Court enters an Order confirming the Debtor's Chapter 11
Plan. As of January 17, 2023, the outstanding balance of M&T
Equipment's secured claim totaled $370,260. A check drawn on
insufficient funds will not constitute a payment under the terms of
the Order.

As adequate protection to M&T Equipment for the Debtor's use of the
M&T Equipment Cash Collateral, M&T Equipment is granted a
replacement lien nunc pro tunc on and in all property acquired or
generated post-petition by the Debtor arising from or generated by
the M&T Equipment Collateral. The lien created: (i) will secure the
return to M&T Equipment of the M&T Collateral, including all cash
and non-cash collateral, utilized by Debtor pursuant to the Order;
(ii) will, where such lien constitutes a first lien, have priority
over any and all claims and expenses in the case; and (iii) will be
subordinate only to enforceable and perfected liens and security
interests i n existence at the time the case was commenced with a
priority senior to the priority of the security interest in favor
of M&T Equipment.

To the extent that all liens granted on the post-petition assets of
the Debtor in favor of M&T Equipment are insufficient to compensate
M&T Equipment in full for the post-petition amounts due by the
Debtor or any subsequent trustee of the Debtor's Estate, M&T
Equipment is granted an administrative expense priority claim with
priority over all administrative expenses of any kind whatsoever
incurred in the reorganization, except for an administrative
expense priority claim arising under a Chapter 7 case and the
Chapter 11 quarterly fees owed to the U.S. Trustee.

A further hearing on the matter is set for April 20 at 11 a.m.

A copy of the order and the Debtor's budget is available at
https://bit.ly/3XomPPo from PacerMonitor.com.

The Debtor projects total operating expenses, on a monthly basis,
as follows:

     $189,925 for January 2023;
     $245,425 for February 2023;
     $225,850 for March 2023;
     $200,350 for April 2023; and
     $200,350 for May 2023.

                     About C & A Transportation

C & A Transportation Inc. -- https://www.catransportation.com/ --
is a professional commercial carrier.

C & A Transportation filed a petition for relief under Subchapter V
of Chapter 11 of the Bankruptcy Code (Bankr. M.D. Ga. Case No.
22-51583) on Dec. 23, 2022, with $1 million to $10 million in both
assets and liabilities.  Audrey Tidwell, president of C & A
Transportation, signed the petition.

Robert Matson, Esq., has been appointed the Subchapter V Trustee.

The Debtor is represented by R. Braden Copeland, Esq. at Stone &
Baxter, LLP.



CAESARS ENTERTAINMENT: S&P Assigns 'B' Rating on Sr. Secured Notes
------------------------------------------------------------------
S&P Global Ratings assigned its 'B' issue-level rating and '3'
recovery rating to Caesars Entertainment Inc.'s proposed $1.75
billion term loan B and $1.25 billion senior secured notes due
2030. The '3' recovery rating indicates S&P's expectation for
meaningful (50%-70%; rounded estimate: 55%) recovery for the
secured lenders in the event of a payment default. The company
plans to use the proceeds from the proposed notes and the new term
loan B, along with borrowings from its credit facility and cash on
hand, to repay all of the outstanding Caesars Resorts Collection
(CRC) term loan B due 2024 and pay fees and expenses.

S&P said, "At the same time, we revised our recovery rating on
Caesars' existing secured debt to '3' from '4', though our 'B'
issue-level rating is unchanged. In addition, we raised our
issue-level rating on the company's unsecured notes to 'B' from
'B-' and revised the recovery rating to '4' from '5'. The '4'
recovery rating indicates our expectation for average (30%-50%;
rounded estimate: 45%) recovery in the event of a payment default.

"The revised recovery ratings and raised unsecured issue-level
rating reflect the lower amount of secured debt outstanding at CRC
under our hypothetical default scenario because of the planned
repayment of approximately $3.4 billion of CRC's term loans, as
well as about $200 million of debt repayment in the fourth quarter
of 2022. This leads to additional value from CRC that is available
to satisfy Caesars' debt claims.

"The proposed debt-for-debt transaction is leverage neutral but
will extend the company's maturity profile. Therefore, it does not
affect our 'B' issuer credit rating on Caesars.

Caesars' reported its preliminary operating results for the fourth
quarter of 2022, which included an approximately 9% increase in
revenue and a 65% rise in its S&P Global Ratings-adjusted EBITDA
relative to the fourth quarter of 2021. The company's strong EBITDA
growth primarily reflected the materially reduced losses in its
digital segment. S&P said, "Caesars reported a midpoint EBITDA loss
of $5 million, which was better than our previous expectation and
down from $305 million of losses in the fourth quarter of 2021. The
company's fourth-quarter 2022 EBITDA was also supported by a good
expansion in its Las Vegas business, which was augmented by a
modest improvement in its regional segment. Caesars has been able
to sustain its margins consistently above pre-pandemic levels
despite the return of a more normal competitive environment. We
continue to expect the company could improve its S&P Global
Ratings-adjusted leverage to the low-6x area in 2023, from about
8.0x in 2022, supported by EBITDA growth stemming from a sustained
reduction in its digital losses, a continued recovery in its
convention and group business in Las Vegas, and investments in its
regional portfolio. Nevertheless, we believe inflationary pressures
on Caesars' operating costs, as well as consumer discretionary
spending, could lead to a moderation in its revenue and margin in
2023, which would slow its deleveraging."

ISSUE RATINGS--RECOVERY ANALYSIS

Key analytical factors:

-- S&P assigned its 'B' issue-level rating and '3' recovery rating
to Caesars' credit facility (including the proposed term loan B)
and senior secured notes. The '3' recovery rating indicates its
expectation for meaningful (50%-70%; rounded estimate: 55%)
recovery for secured lenders in the event of a payment default.

-- S&P also revised its recovery rating on Caesars' existing
secured debt to '3' from '4'. S&P's 'B' issue-level rating is
unchanged.

-- In addition, S&P raised its issue-level rating on Caesars'
unsecured notes, comprising $1.6 billion of senior notes due 2027
and $1.2 billion of senior notes due 2029, to 'B' from 'B-' and
revised the recovery rating to '4' from '5'. The '4' recovery
rating indicates S&P's expectation for average (30%-50%; rounded
estimate: 45%) recovery in the event of a payment default.

-- S&P's 'BB-' issue-level rating on CRC's remaining secured debt
is unchanged. The '1' recovery rating indicates its expectation for
very high (90%-100%; rounded estimate: 95%) recovery for lenders in
the event of a payment default.

Simulated default assumptions

-- S&P's simulated default scenario assumes a default occurring by
2026, in line with its typical time to default for 'B'-rated
issuers, due to prolonged economic weakness or significantly
greater competitive pressures in the company's various markets, in
the online gaming segment, or both.

-- S&P assumes a gross enterprise value at emergence of $9.7
billion, calculated by applying a 7x multiple to its estimated
EBITDA at emergence. S&P uses a multiple at the high end of its
range for leisure companies to reflect the combined company's good
scale and geographic diversity in the U.S. and its favorable
competitive position, given that it has the largest player loyalty
program in the country.

-- S&P assumes about 77% of the gross enterprise value at default
is attributable to CRC's properties, about 21% to Caesars' legacy
Eldorado properties, and about 2% to the Caesars Forum convention
center based on our forecast for combined EBITDAR.

-- CRC does not guarantee Caesars' debt, therefore Caesars' debt
at default will primarily be satisfied by value at the entity. S&P
assumes that residual value from CRC would be available to satisfy
Caesars' unsecured claims and pari passu secured deficiency
claims.

-- It is also our understanding that Caesars guarantees the $400
million Forum convention center loan. Therefore, S&P assumes any
claims on the Forum convention center loan that are not covered by
the value it attributes to the Forum are covered by value at
Caesars and rank pari passu with Caesars' secured debt.

-- S&P assumes Caesars' $2.3 billion revolver is 85% drawn at
default.

Simplified waterfall

-- Emergence EBITDA: $1.4 billion

-- EBITDA multiple: 7x

-- Gross enterprise value: $9.7 billion

-- Net enterprise value after administrative expenses (5%): $9.2
billion

-- Value attributable to CRC: $7.1 billion

-- Estimated CRC secured debt claims at default: $2.0 billion

    --Recovery expectations: 90%-100% (rounded estimate: 95%)

-- Residual value from CRC available to satisfy Caesars' unsecured
debt claims and pari passu deficiency claims: $5.1 billion

-- Value attributable to the Forum convention center: $0.2
billion

-- Estimated Forum convention center claims at default: $0.4
billion

-- Estimated Forum convention center deficiency claims: $0.2
billion

-- Value attributable to Caesars' secured debt claims: $1.9
billion

-- Pro rata share of CRC's residual value: $3.5 billion

-- Total value available to Caesars' secured debt claims: $5.6
billion

-- Estimated Caesars secured debt claims and Forum deficiency
claims at default: $9.4 billion

    --Recovery expectations: 50%-70% (rounded estimate: 55%)

-- Pro rata share of CRC's residual value available to Caesars'
unsecured debt claims: $1.4 billion

-- Estimated Caesars unsecured debt claims: $2.9 billion

    --Recovery expectations: 30%-50% (rounded estimate: 45%)

Note: All debt amounts include six months of prepetition interest.



CENTRAL FLORIDA CIVIL: Court OKs Interim Cash Collateral Access
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida,
Jacksonville Division, authorized Central Florida Civil, LLC to use
the cash collateral of Mulligan Funding, LLC and the Fundworks, LLC
on an interim basis.

The Debtor requires the use of cash collateral to continue
operating the business and pay salaries.

As of the Petition Date, the Debtor owed $150,000 each to Mulligan
Funding, LLC and the Fundworks, LLC. The Debtor's obligation is
evidenced by a Promissory Note, Security Agreement, Financing
Statement, and Chattel Mortgage executed November 22, 2021, to
Mulligan and January 5, 2022, to Fundworks.

The Debtor is directed to pay only expenses necessary for the
operation of the business and not any pre-petition expenses,
officer salaries, professional fees, or insiders without further
Court order. If that order is entered, the necessary pre-petition
expenses, salaries, professional fees, or insider payments will not
be paid unless the Debtor is current on its ordinary course of
business expenses.

The Debtor is authorized to make these adequate protection
payments:

     a. $1,519 per month to Mulligan Funding commencing October 1,
2022, and on the first of the month thereafter or further Court
Order;

     b. $1,519 per month to Fundworks commencing October 1, 2022,
and on the first of the month thereafter or further Court Order;
and

     c. $519 per month to Fiji Funding, LLC commencing October 1,
2022 and on the 1st of the month thereafter or further Court
Order;

     d. All other UCC-1 receivable lenders including NewCo Capital
Group, Kalamata Capital Group, Fusion Funding, Unique Capital and
Amerifii will receive no adequate protection at this time.

As additional adequate protection of a lender's interest in the
cash collateral, the Debtor will (a) maintain all necessary
insurance coverage on the lender's collateral and under no
circumstances will the Debtor allow its insurance coverage to
lapse, (b) continue to pay such monthly insurance payment in a
timely manner, and (c) within two days of the request of the
lender, the Debtor will provide to the lender's counsel a written
statement supported by evidence of the Debtor's compliance with the
foregoing.

The Debtor's authority to use the cash collateral will terminate
immediately and upon the earlier of (a) a Court order; (b) the
conversion of the case to a Chapter 7 case or the appointment of a
Chapter 11 trustee without the consent of the lender; (c) the entry
of an Order that alters the validity or priority of the replacement
liens granted therein to the Bank; (d) the Debtor ceasing to
operate all or substantially all of its business; (e) the entry of
an order granting relief from the automatic stay that allows any
entity to proceed against any material assets of the Debtor that
constitute cash collateral; (f) the entry of an Order authorizing a
security interest under section 364(c) or 364(d) of the Bankruptcy
Code in the collateral to secure any credit obtained or debt
incurred that would be senior to or equal to the replacement lien;
or (g) the dismissal of the Chapter 11 case.

A continued hearing on the matter is set for February 21 at 10
a.m.

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

                 About Central Florida Civil, LLC

Central Florida Civil, LLC provides a full range of services
relating to site preparation for commercial projects.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Court (Bankr. M.D. Fla. Case No. 22-01736) on August 31,
2022. In the petition signed by Chad M. Converse, manager, the
Debtor disclosed $2,469,641 in assets and $4,873,621 in
liabilities.

Judge Jason A. Burgess oversees the case.

Bryan K. Mickler, Esq., at the Law Offices of Mickler & Mickler,
LLP, is the Debtor's counsel.


COMPUTE NORTH: Keeps Exclusive Right to Propose Bankruptcy Plan
---------------------------------------------------------------
Compute North Holdings, Inc. and its affiliates obtained a court
order extending their exclusive right to file a Chapter 11 plan to
April 20 and solicit votes on the plan to June 19.

The ruling by the U.S. Bankruptcy Court for the Southern District
of Texas allows the companies to remain in control of their
bankruptcy cases while they negotiate to resolve issues, including
those raised by their customers, and build consensus for a
"value-maximizing conclusion" to their cases, including the
confirmation of a Chapter 11 plan.

The companies filed their proposed joint Chapter 11 liquidating
plan in November last year. Under the plan, each general unsecured
creditor is entitled to receive its pro rata share of the so-called
"wind-down distributable cash."

As of Nov. 23, 2022, the companies had approximately $15.5 million
in cash for payment of claims and their obligations under the plan.
In addition, the companies expect to close the sale of their assets
in advance of confirmation of the plan for approximately $11
million in cash.

                   About Compute North Holdings

Computer North Holdings, Inc. -- https://www.computenorth.com/ --
is a crypto mining data center company. Compute North has four
facilities in the U.S. -- two in Texas and one in both South Dakota
and Nebraska, according to its website.

While cryptocurrency prices skyrocketed during the pandemic (with
bitcoin surging by 300% in 2020), the Federal Reserve's decision to
curb rising inflation by hiking interest rates has since ushered in
some of the crypto market's biggest losses in history. After
amassing a record value above $3 trillion in November 2021, the
cryptocurrency market posted its worst first half ever --
plummeting more than 70% through July. Terra's luna token, a once
top cryptocurrency worth more than $40 billion, lost virtually all
its value within a week in May after sister token TerraUSD, a
stablecoin meant to hold a price of $1, broke its dollar peg as
markets collapsed.

Crypto lenders such as Celsius boomed during the COVID-19 pandemic,
drawing depositors with high interest rates and easy access to
loans rarely offered by traditional banks. But the lenders'
business model came under scrutiny after a sharp sell-off in the
crypto market spurred by the collapse of major tokens terraUSD and
luna in May 2022. New Jersey-based Celsius froze withdrawals in
June 2022, citing "extreme" market conditions, cutting off access
to savings for individual investors and sending tremors through the
crypto market.

The list of major crypto firms that have filed for bankruptcy
protection in 2022 now include crypto lenders Celsius Network,
Three Arrows Capital, Voyager Digital, and crypto mining firm
Compute North.

Compute North Holdings and 18 affiliates sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Texas Lead Case
No. 22-90273) on Sept. 22, 2022. In the petitions signed by Harold
Coulby, as authorized signatory, the Debtors reported assets and
liabilities between $100 million and $500 million.

Judge Marvin Isgur oversees the cases.

The Debtors tapped Paul Hastings, LLP as bankruptcy counsel;
Jefferies, LLC as investment banker; and Portage Point Partners as
financial advisor. Epiq Corporate Restructuring, LLC is the claims,
noticing and solicitation agent.

On Oct. 6, 2022, the Office of the U.S. Trustee for Region 7
appointed an official committee of unsecured creditors in these
Chapter 11 cases. The committee tapped McDermott Will & Emery LLP
as legal counsel; and Miller Buckfire & Co., LLC and its affiliate,
Stifel, Nicolaus & Co., Inc., as investment banker.

On November 23, 2022, the Debtors filed their proposed joint
Chapter 11 liquidating plan and disclosure statement.


CUMBERLAND RJ: Keeps Exclusive Right to Propose Bankruptcy Plan
---------------------------------------------------------------
A judge extended the time Cumberland RJ, Inc. can keep exclusive
control of its Chapter 11 case, giving the company until June 9 to
file a bankruptcy plan and until Aug. 8 to solicit votes on that
plan.

The ruling by Judge James Sacca of the U.S. Bankruptcy Court for
the Northern District of Georgia allows the company to pursue its
own plan for emerging from Chapter 11 protection without the threat
of a rival plan from creditors.

Originally, the company was due to file a plan and solicit
acceptances by Feb. 9 and April 10, respectively.

Cumberland is currently negotiating with its landlord and is
considering litigation, according to its attorney, Elizabeth
Childers, Esq., at Rountree, Leitman, Klei & Geer, LLC.

"Resolution of the dispute with the landlord is essential to
[Cumberland's] reorganization. As such, any plan of reorganization
will be significantly impacted by the outcome of this potential
litigation," Ms. Childers said in court papers.

                        About Cumberland RJ

Cumberland RJ, Inc. owns and operates a trampoline park. The
company is based in Suwanee, Ga.

Cumberland sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ga. Case No. 22-21039) on Oct. 12,
2022, with up to $50,000 in assets an up to $10 million in
liabilities. Asif Amin Ali, president of Cumberland, signed the
petition.

Judge James R. Sacca oversees the case.

Rountree, Leitman, Klei & Geer, LLC is the Debtor's legal counsel.


DEVILLE CORP: Wins Interim Cash Collateral Access
-------------------------------------------------
The Middle District of Florida, Tampa Division, authorized Deville
Corp. to use cash collateral on an interim basis, in accordance
with the budget.

The Debtor is permitted to use cash collateral to pay: (a) amounts
expressly authorized by the Court, including payments to the US
Trustee for quarterly fees; (b) the current and Necessary expenses
set forth in the budget, plus an amount not to exceed 10% for each
line item; and (c) additional amounts as may be expressly approved
in writing by FLA-Nash, LLC and Savannah Capital, LLC or its
successor in interest.

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

The Debtor will maintain insurance coverage for its property in
accordance with the obligations under the loan and security
documents with the Secured Creditors.

A continued hearing on the matter is set for February 9, 2023 at 2
p.m.

A copy of the order and the Debtor's budget is available at
https://bit.ly/3GYLUcC from PacerMonitor.com.

The Debtor projects total operating expenses, on a monthly basis,
as follows:

     $4,082 for January 2023;
     $3,049 for February 2023; and
     $2,940 for March 2023.

                      About Deville Corp.

Deville Corp. is a Single Asset Real Estate (as defined in 11
U.S.C. Sec. 101(51B)).

Deville Corp. filed a petition for relief under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Fla. Case No. 22-04930) on Dec. 14,
2022.  In the petition filed by Edgar L.T. Gay, as president and
director, the Debtor reported assets between $10 million and $50
million and liabilities between $1 million and $10 million.

The Debtor is represented by Daniel R Fogarty, Esq. at Stichter,
Riedel, Blain & Postler, P.A.



ECO-PRESERVATION SERVICES: Gets OK to Hire Engineers of the South
-----------------------------------------------------------------
Eco-Preservation Services, LLC received approval from the U.S.
Bankruptcy Court for the Northern District of Alabama to employ
Engineers of the South.

The Debtor requires the services of an engineering consulting firm
to assist in the operation of its business and to comply with all
government rules and regulations.

The firm will be paid at these rates:

     Principal Engineer              $175 per hour
     Sr. Professional Engineer       $125 per hour
     Project Manager                 $107 per hour
     Project Engineer                $85 per hour
     Senior CADD Technician          $75 per hour
     CADD Technician                 $64 per hour
     Administrative/Clerical         $43 per hour
     Certified Wastewater Operator   $87 per hour
     Resident Project Rep.           $70 per hour

Wynn Echols, Jr., a partner at Engineers of the South, 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:

     Wynn Echols, Jr.
     Engineers of the South
     208 Oak Mountain Circle
     Pelham, AL 35124
     Phone: 205.327.9140
     Fax: 205.581.8680
     Email: info@engineersofthesouth.com

                   About Eco-Preservation Services

ECO Preservation, LLC is a provider of water, sewage and other
systems. The company is based in Leeds, Ala.

ECO Preservation filed a petition for relief under Chapter 11 of
the Bankruptcy Code (Bankr. N.D. Ala. Case No. 22-02429) on Oct. 5,
2022. In the petition filed by its managing member, J. Michael
White, the Debtor reported between $1 million and $10 million in
both assets and liabilities.

The case is jointly administered with the Chapter 11 cases filed by
SERMA Holdings, LLC (Bankr. N.D. Ala. Case No. 22-02430) and Mr.
White (Bankr. N.D. Ala. Case No. 22-02431) on Oct. 5, 2022. SERMA
Holdings listed up to $50,000 in assets and up to $10 million in
debt.

The Debtors are represented by Harry P. Long, Esq., at The Law
Offices of Harry P. Long, LLC.


EMERALD ELECTRICAL: Exclusivity Period Extended to April 1
----------------------------------------------------------
A judge extended the time Emerald Electrical Consultants, LLC can
keep exclusive control of its Chapter 11 case, giving the company
until April 1 to file a bankruptcy plan and until May 31 to solicit
votes on that plan.

The ruling by Judge James Sacca of the U.S. Bankruptcy Court for
the Northern District of Georgia allows the company to pursue its
own plan for emerging from Chapter 11 protection without the threat
of a competing plan from creditors.

Since its Chapter 11 filing, Emerald has worked closely with its
primary lender on various issues related to reporting and cash
collateral. Emerald is also sorting through issues with its bonding
company and those that have filed claims on its bonds, and is
analyzing various claims related to a particular project that
triggered its bankruptcy filing.

"Until [Emerald] obtains more clarity regarding likely outcomes on
these various issues, it will be challenging to formulate a plan of
reorganization," said its attorney, Benjamin Keck, Esq., at Keck
Legal, LLC. "It is appropriate to allow [Emerald] more time to work
through these issues."

               About Emerald Electrical Consultants

Emerald Electrical Consultants, LLC specializes in substation
construction, related technical services, and consulting across the
United States, with a focused presence in the southeastern and
central regions of the country. The company is based in Cumming,
Ga.

Emerald Electrical Consultants sought protection under Chapter 11
of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 22-20913) on
Sept. 15, 2022, with up to $10 million in both assets and
liabilities. Lindy Truitt, president and chief executive officer,
signed the petition.

Judge James R. Sacca oversees the case.

Benjamin Keck, Esq., at Keck Legal, LLC is the Debtor's counsel.


EVOQUA WATER: S&P Places 'BB-' ICR on CreditWatch Positive
----------------------------------------------------------
S&P Global Ratings placed all its ratings on Evoqua Water
Technologies Corp. and its subsidiary EWT Holdings III
Corp.--including its 'BB-' issuer credit ratings on the two
companies--on CreditWatch with positive implications.

S&P plans to resolve the CreditWatch or discontinue its ratings on
Evoqua and EWT once the acquisition closes, which S&P anticipates
will occur in mid-2023.

Evoqua announced it has entered into a definitive agreement to be
acquired by Xylem Inc. in an all-equity transaction.

S&P said, "The CreditWatch placement reflects our view that the
proposed transaction would benefit Evoqua's credit quality because
it would be part of a higher-rated company. Please see the recent
report, titled "Xylem Inc.'s Proposed Acquisition Of Evoqua
Elevates Leverage Slightly, But Remains Within Rating Parameters,"
published Jan. 23, 2023, on RatingsDirect for details on how we
view the proposed transaction.

"Xylem could repay Evoqua's debt as part of the transaction, in
which case we would likely discontinue our ratings (while Xylem has
not announced its intentions regarding Evoqua's outstanding debt,
the instruments allow for prepayments or early redemptions)."

CreditWatch

S&P said, "We expect to resolve the CreditWatch placement once the
transaction closes. At that time, we could raise our ratings on
Evoqua if some or all of its rated debt remains outstanding.
Alternatively, if Xylem completely retires Evoqua's rated debt, we
will likely discontinue our ratings on the company."

ESG credit indicators: E-1, S-2, G-2



EXTRUSION GROUP: Gets More Time for Bankruptcy Plan
---------------------------------------------------
Extrusion Group, LLC and its affiliates obtained a court order
extending their exclusive right to file a Chapter 11 plan to May 30
and solicit votes on the plan to July 28.

The ruling by Judge James Sacca of the U.S. Bankruptcy Court for
the Northern District of Georgia allows the companies to remain in
control of their bankruptcy while they negotiate to resolve
disputed debts with Kimberly-Clark Corporation and Kimberly-Clark
Global Sales, LLC.

The companies and their principals are defendants in a lawsuit
filed by Kimberly-Clark in the U.S. District Court for the Northern
District of Georgia. The case has been pending for almost three
years.   

"As the primary cause of the Chapter 11 filings, Kimberly-Clark's
claims and the district court case represent the crux of these
cases, and any plan of reorganization will be substantially
impacted by the outcome of this dispute," said Caitlyn Powers,
Esq., one of the attorneys at Rountree, Leitman, Klei & Geer, LLC
representing the companies.

                       About Extrusion Group

Alpharetta, Ga.-based Extrusion Group, LLC and its affiliates filed
voluntary petitions for Chapter 11 protection (Bankr. N.D. Ga. Lead
Case No. 21-21053) on Oct. 5, 2021. In the petition signed by its
chief executive officer, Micheal T. Houston, Extrusion Group listed
up to $100,000 in assets and up to $10 million in liabilities.

Judge James R. Sacca oversees the cases.

Rountree Leitman & Klein, LLC and Foley & Lardner, LLP serve as the
Debtors' bankruptcy counsel and special counsel, respectively.


FARAJI ENTERPRISE: Court OKs Cash Collateral Access Thru Feb 28
---------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois
authorized Faraji Enterprise, LLC to use cash collateral on an
interim basis in accordance with the budget and its agreement with
Central Savings, F.S.B., through February 28, 2023.

The Debtor asserts that it has an immediate need to use cash
collateral to permit, among other things, the orderly continuation
of the operation of the Property, and to avoid irreparable harm.

The Debtor and Central Savings, F.S.B. are parties to a term loan
dated March 16, 2017, evidenced by:

     a) a Promissory Note dated March 16, 2017 by and between
Hirsch God Trust No. 469 as borrower and Central Federal FSB as
Lender in the original principal amount of $390,000; and

     b) a Mortgage recorded in the Office of the Cook County
Recorder of Deeds on March 24, 2017, as Document No. 1708304073 and
an Assignment of Rents dated March 16, 2017, which a was recorded
in the Office of the Cook County Recorder of Deeds on March 24,
2017 as Document No. 1708304074, each encumbering the real property
and rental income from property commonly known as 469-473 Hirsch
Avenue Calumet City, IL 60409; and

     c) a Guaranty of Payment and Performance of all Loan
obligations by Debtor, Faraji Enterprises, LLC dated March 16,
2017.

As of the Petition Date, the Debtor owed Central Savings, F.S.B.
not less than $408,160 inclusive of interest owed and accrued under
the Loan.

To adequately protect Central Savings, F.S.B. for the Debtor's use
of cash collateral, Central Savings, F.S.B. is granted to the
extent not heretofore granted, a replacement lien on the Debtor's
rents, accounts and accounts receivables, wherever located to
secure the Indebtedness to the extent of any diminution in value of
the Pre-Petition Collateral, subject only to valid and enforceable
liens and security interests existing on said property, assets, or
rights of the Debtor at the time of the commencement of the Case.

As further adequate protection, the Debtor will grant Central
Savings, F.S.B., to the extent not heretofore granted, a
replacement lien on the Debtor's rents, accounts, and accounts
receivables derived from the Property, which are of the same type
or nature as the Pre-Petition Collateral, coming into existence or
acquired by the Debtor respecting the Property on or after the
Petition Date.

The Post-Petition Liens granted to Central Savings, F.S.B. under
the terms of the Order will be valid and perfected as of the date
of the Order, without the need for the execution or filing of any
further document or instrument otherwise required to be executed or
filed under applicable non-bankruptcy law.

The Debtor's authority to use cash collateral will terminate on the
earlier of:

     (a) the date of entry by the Court of an order modifying or
otherwise altering the effectiveness of the Order;

     (b) an Event of Default; or

     (c) the expiration of the Budget Period.

These events constitute an Event of Default:

     a. Entry of an order converting the Debtor's Chapter 11 case
to a case under Chapter 7 of the Bankruptcy Code, which order is
not stayed within 10 days of the entry of such order;

     b. The entry of an order dismissing the Debtor's Chapter 11
case, which is not stayed within 10  days of the entry of such
order; and

     c. The Debtor's failure to comply with any provision of the
Order.

A further hearing on the matter is set for February 23 at 9:30
a.m.

A copy of the order is available at https://bit.ly/3Xu6ybF from
PacerMonitor.com.

                      About Faraji Enterprise

Faraji Enterprise, lLLC sought protection for relief under Chapter
11 of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 22-14998) on
Dec. 30, 2022, with $500,001 to $1 million in assets and $100,001
to $500,000 in liabilities.

Judge Deborah L. Thorne oversees the case.

William E. Jamison, Jr., Esq., at the Law Office William E. Jamison
& Associates represents the Debtor as counsel.


FAST RADIUS: Committee Taps Potter Anderson & Corroon as Counsel
----------------------------------------------------------------
The official committee of unsecured creditors of Fast Radius, Inc.
and its affiliates seeks approval from the U.S. Bankruptcy Court
for the District of Delaware to employ Potter Anderson & Corroon,
LLP as its legal counsel.

The firm's services include:

     (a) advising the committee with respect to its rights, powers
and duties;

     (b) advising the committee in its consultations with the
Debtors relative to the administration of the Chapter 11 cases;

     (c) advising the committee in analyzing the claims of the
Debtors' customer creditors and in negotiating with such
creditors;

     (d) reviewing financial and operational information furnished
by the Debtors to the committee;

     (e) investigating, and advising the committee with respect
thereto, the acts, conduct, assets, liabilities, and financial
condition of the Debtors or insiders and any other matters relevant
to the Chapter 11 cases;

     (f) advising the committee with respect to any contemplated
sale of the Debtors' assets, and assisting, participating, and
attending any related auction and sale process;

     (g) analyzing the value of the Debtors' go forward
businesses;

     (h) assisting the committee in its analysis of, and
negotiations with, the Debtors or any third-party concerning
matters related to, among other things, cash collateral usage and
financing to be obtained in the Chapter 11 cases and the terms of
any plan of reorganization or liquidation of the Debtors;

     (i) conferring with the Debtors' management, counsel,
financial advisor and any other retained professional;

     (j) conferring with the principals, counsel and advisors of
the Debtors' lenders and equity holders;

     (k) assisting and advising the committee with respect to its
communications with the Debtors' customers regarding significant
matters;

     (l) representing the committee at hearings and other
proceedings;

     (m) attending meetings of the committee;

     (n) reviewing and analyzing applications, orders, statements
of operations, and schedules filed with the court and advising the
committee as to their propriety;

     (o) taking necessary actions to protect and preserve the
interests of the committee;

     (p) appearing before the bankruptcy court and appellate
courts;

     (q) assisting the committee in preparing and filing legal
papers; and

     (r) other necessary legal services.

The hourly rates of the firm's counsel and staff are as follows:

     Partners                 $675 to $865 per hour
     Counsels                 $705 per hour
     Associates               $440 to $495 per hour
     Paraprofessionals        $330 to $3500 per hour

In addition, the firm will receive reimbursement for out-of-pocket
expenses incurred.

Christopher Samis, Esq., an attorney at Potter Anderson & Corroon,
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:

     Christopher M. Samis, Esq.
     R. Stephen McNeill, Esq.
     Elizabeth R. Schlecker, Esq.
     Potter Anderson & Corroon LLP
     1313 N. Market Street, 6th Floor
     Wilmington, DE 19801
     Telephone: (302) 984-6000
     Facsimile: (302) 658-1192
     Email: csamis@potteranderson.com
            rmcneill@potteranderson.com
            eschlecker@potteranderson.com

                         About Fast Radius

Fast Radius, Inc., now known as Legacy FSRD, Inc., is a cloud
manufacturing and digital supply chain company in Chicago, Ill.

Fast Radius and affiliates, Fast Radius Operations, Inc. and Fast
Radius PTE Ltd., sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Lead Case No. 22-11051) on Nov. 7,
2022. In the petition signed by Patrick McCusker, authorized
signatory, Fast Radius, Inc. disclosed $69.329 million in assets
and $55.212 in liabilities.

The Debtors tapped DLA Piper LLP (US) and Bayard, P.A. as legal
counsels; Lincoln Partners Advisors, LLC as investment banker;
Alvarez & Marsal North, America, LLC as financial advisor; and
Stretto, Inc. as claims and noticing agent and administrative
advisor.

The U.S. Trustee for Region 3 appointed an official committee of
unsecured creditors in the Debtors' Chapter 11 cases on Nov. 18,
2022. Potter Anderson Corroon, LLP and Emerald Capital Advisors
serve as the committee's legal counsel and financial advisor,
respectively.


FAST RADIUS: Debtors to Seek Plan Confirmation on Feb. 22
---------------------------------------------------------
Judge J. Kate Stickles has entered an order approving on interim
basis the Combined Disclosure Statement and Plan of Legacy FSRD,
Inc. (f/k/a Fast Radius, Inc., et. al).

The schedule of events set forth below relating to approval and
confirmation of the Combined Disclosure Statement and Plan is
approved in its entirety, and the Court finds the following
schedule is appropriate under the applicable provisions of the
Bankruptcy Code, the Bankruptcy Rules, and the Local Rules:

No later than Jan. 17, 2023, the Solicitation Packages, containing
the following materials, shall be emailed, where possible, or
mailed by the Voting Agent to all Claimholders in the Voting
Classes: (a) the Combined Hearing Notice; (b) the Combined
Disclosure Statement and Plan; (c) a copy of the Interim Approval
and Procedures Order; and (d) an appropriate Ballot.

If any Holder of a Claim seeks allowance of its Claim for voting
purposes or to challenge the allowance of its Claim for voting
purposes in accordance with the Tabulation Procedures, such Holder
of a Claim must file a motion, pursuant to Bankruptcy Rule 3018,
for an order temporarily allowing its Claim or allowing its Claim
in a different amount or classification for purposes of voting to
accept or reject the Combined Disclosure Statement and Plan and
serve the Rule 3018 Motion on the Debtors so that it is received no
later than 4:00 p.m. (Eastern Time) on Jan. 31, 2023.

The Debtors (and, with respect to filing a response, any other
party in interest) shall then have (a) until Feb. 7, 2023 at 4:00
p.m. (Eastern Time) to file and serve any objections to such Rule
3018 Motions and (b) coordinate with this Court to adjudicate and
resolve all pending Rule 3018 Motions prior to the Combined
Hearing.

The claims objection deadline will be on Feb. 7, 2023 at 4:00 p.m.
(ET).

Ballots must be received by the Voting Agent on or before Feb. 14,
2023 at 4:00 p.m. (Eastern Time) in accordance with the
instructions on the Ballot, unless extended by the Debtors in their
discretion in writing, even if the voting period has previously
elapsed.

Objections to confirmation of the Combined Disclosure Statement and
Plan on any ground, including adequacy of the information contained
therein, if any, must be filed and served no later than Feb.14,
2023 at 4:00 p.m. (Eastern Time).

The Combined Hearing on the Plan and Disclosure Statement is
scheduled for Feb. 22, 2023 at 10:30 a.m. (ET).

                        About Fast Radius

Fast Radius, Inc., is a cloud manufacturing and digital supply
chain company in Chicago, Ill.

Fast Radius, Inc. and affiliates, Fast Radius Operations, Inc. and
Fast Radius PTE Ltd., sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 22-11051) on
Nov. 7, 2022. In the petition signed by Patrick McCusker,
authorized signatory, Fast Radius, Inc. disclosed $69.329 million
in assets and $55.212 in liabilities.

The Debtors tapped DLA Piper LLP (US) and Bayard, P.A. as legal
counsels; Lincoln Partners Advisors, LLC as investment banker;
Alvarez & Marsal North, America, LLC as financial advisor; and
Stretto, Inc. as claims and noticing agent and administrative
advisor.

The U.S. Trustee for Region 3 appointed an official committee of
unsecured creditors in the Debtors' Chapter 11 cases on Nov. 18,
2022. The committee is represented by Potter Anderson Corroon,
LLP.

                           *     *     *

On Dec. 7 and Dec. 8, 2022, the Debtors conducted an auction in
person and via remote video for the sale of substantially all of
their assets. Upon the conclusion of the auction, 36 hours later,
SyBridge was named the successful bidder and BigBear and TRG were
named the backup bidders, as set forth in the notice filed on Dec.
8, 2022.  

On Dec. 16, 2022, the Debtors completed the sale of substantially
all of their assets to SyBridge Technologies for $13.321 million in
cash, the assumption of approximately $1.429 million of
liabilities, the assumption of certain contracts and the payment of
associated cure costs, and a contingent payment of up to $450,000
based on the collection of past-
due accounts receivable.

The Debtors estimate that the SyBridge going-concern transaction
generates a total estimated value of nearly $17 million, inclusive
of more than $13 million of cash, offers to more than 75% of the
Debtors’ employees, the proposed assumption of more than 100
contracts and up to more than $2.4 million of liabilities, among
other things.

The sale excluded certain assets principally including the Debtors
cash, 9 multi-function Fusion HP printers, and 2 Doosan DVF5000
machines.  

Pursuant to the Sale Order, the SVB Secured Claims were paid in
full and that the SVB Capital Secured Claim received a partial
distribution of $2.016 million from the proceeds of the SyBridge
Transaction with an additional $2.016 million held in escrow.


FEDNAT HOLDING: Taps Nelson Mullins Riley as Bankruptcy Counsel
---------------------------------------------------------------
FedNat Holding Company and its affiliates seek approval from the
U.S. Bankruptcy Court for the Southern District of Florida to
employ Nelson Mullins Riley & Scarborough, LLP as their bankruptcy
counsel.

The firm's services include:

     a. advising the Debtors with respect to their powers and
duties in the continued management and operation of their
businesses and properties;

     b. advising and consulting on the conduct of the Chapter 11
cases, including all of the legal and administrative requirements
of operating in Chapter 11;

     c. attending meetings and negotiating with representatives of
creditors and other parties-in-interest;

     d. taking all necessary actions to protect and preserve the
Debtors' estates, including prosecuting actions on the Debtors'
behalf, defending any action commenced against the Debtors, and
representing the Debtors in negotiations concerning litigation in
which they are involved, including, but not limited to, objections
to claims filed against the estates;

     e. preparing pleadings;

     f. representing the Debtors in connection with obtaining
authority to continue using cash collateral and post-petition
financing;

     g. advising the Debtors in connection with any potential sale
of assets;

     h. appearing before the bankruptcy court and any appellate
courts;

     i. taking any necessary action to negotiate, prepare and
obtain approval of a disclosure statement and confirmation of a
Chapter 11 plan and all documents related thereto; and

     j. other necessary legal services, including analyzing the
Debtors' leases and contracts and the assumption and assignment or
rejection thereof, and advising the Debtors on corporate and
litigation matters.

Nelson will be paid at these rates:

     Partners              $675 to $750 per hour
     Associates            $500 to $600 per hour
     Paraprofessionals     $305 to $415 per hour

In addition, the firm will receive reimbursement for out-of-pocket
expenses incurred

The firm received from the Debtor an advance retainer of $450,000.

Shane Ramsey, Esq., a partner at Nelson, 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:

     Shane G. Ramsey, Esq.
     Nelson Mullins Riley & Scarborough, LLP
     150 Fourth Avenue, North, Suite 1100
     Nashville, TN 37219
     Tel: (615) 664-5300
     Fax: (615) 664-5399
     Email: shane.ramsey@nelsonmullins.com

                    About FedNat Holding Company

FedNat Holding Co. -- https://www.fednat.com -- is a regional
insurance holding company in Sunrise, Fla., which controls
substantially all aspects of the insurance underwriting,
distribution and claims processes through subsidiaries and
contractual relationships with independent and general agents. It
is not an insurance carrier and does not issue insurance policies.
Rather, FedNat provides agency, underwriting and policyholder
services to its insurance carrier clients. Its business is
comprised of two primary components: underwriting and claims
processing.

FedNat and its affiliates filed petitions for relief under Chapter
11 of the Bankruptcy Code (Bankr. D. Fla. Lead Case No. 22-19451)
on Dec. 11, 2022. In the petition filed by its manager, Mark Allen,
FedNat reported assets between $10 million and $50 million and
liabilities between $100 million and $500 million.

Judge Peter D. Russin oversees the cases.

The Debtors are represented by Shane G. Ramsey, Esq., at Nelson
Mullins Riley & Scarborough, LLP.


FLINT GROUP: KKR Fund Marks EUR143,300 Loan at 23% Off
------------------------------------------------------
KKR Income Opportunities Fund has marked its EUR143,332 loan
extended to Flint Group GmbH to market at EUR109,777or 67% of the
outstanding amount, as of October 31, 2022, according to a
disclosure contained in the KKR Fund's Form N-CSR for the fiscal
year ended October 31, 2022, filed with the Securities and Exchange
Commission on January 6, 2023.

KKR IOF is a participant in a first lien tranche B5 term loan to
Flint Group GmbH. The loan accrues interest at a rate of 0.75%
(0.75% PIK, EURIBOR (3M) + 4.25%) per annum and matures on
September 21, 2023.

KKR IOF was organized on March 17, 2011 as a statutory trust under
the laws of the State of Delaware. The Fund is a closed-end
registered management investment company, which commenced
operations on July 25, 2013. KKR Credit Advisors (US) LLC serves as
the Fund's investment adviser.

Flint Group GmbH manufactures products for printing and packaging.
The Company offers flexography, washout solvents, commercial
coatings, heatset inks, offset blankets, pigments, letterpress, and
digital printing products.



FLINT GROUP: KKR Fund Marks EUR9,200 Loan at 23% Off
----------------------------------------------------
KKR Income Opportunities Fund has marked its EUR9,272 loan extended
to Flint Group GmbH to market at EUR7,102 or 67% of the outstanding
amount, as of October 31, 2022, according to a disclosure contained
in the KKR Fund's Form N-CSR for the fiscal year ended October 31,
2022, filed with the Securities and Exchange Commission on January
6, 2023.

KKR IOF is a participant in a first lien tranche B3 term loan to
Flint Group GmbH. The loan accrues interest at a rate of 0.75%
(0.75% PIK, EURIBOR (3M) + 4.25%) per annum and matures on
September 21, 2023.

KKR IOF was organized on March 17, 2011 as a statutory trust under
the laws of the State of Delaware. The Fund is a closed-end
registered management investment company, which commenced
operations on July 25, 2013.  KKR Credit Advisors (US) LLC serves
as the Fund's investment adviser.

Flint Group GmbH manufactures products for printing and packaging.
The Company offers flexography, washout solvents, commercial
coatings, heatset inks, offset blankets, pigments, letterpress, and
digital printing products.



FLINT GROUP: KKR Fund Marks EUR99,900 Loan at 23% Off
-----------------------------------------------------
KKR Income Opportunities Fund has marked its EUR99,965 loan
extended to Flint Group GmbH to market at EUR76,563 or 67% of the
outstanding amount, as of October 31, 2022, according to a
disclosure contained in the KKR Fund's Form N-CSR for the fiscal
year ended October 31, 2022, filed with the Securities and Exchange
Commission on January 6, 2023.

KKR IOF is a participant in a first lien tranche B7 term loan to
Flint Group GmbH. The loan accrues interest at a rate of 0.75%
(0.75% PIK, EURIBOR (3M) + 4.25%) per annum and matures on
September 21, 2023.

KKR IOF was organized on March 17, 2011 as a statutory trust under
the laws of the State of Delaware. The Fund is a closed-end
registered management investment company, which commenced
operations on July 25, 2013. KKR Credit Advisors (US) LLC serves as
the Fund's investment adviser.

Flint Group GmbH manufactures products for printing and packaging.
The Company offers flexography, washout solvents, commercial
coatings, heatset inks, offset blankets, pigments, letterpress, and
digital printing products.



FLOSS BAR: Taps Mandelbaum Barrett as Bankruptcy Counsel
--------------------------------------------------------
Floss Bar, Inc. and Med Bar, LLC received approval from the U.S.
Bankruptcy Court for the Southern District of New York to employ
Mandelbaum Barrett P.C. as their legal counsel.

The firm's services include:

     (a) advising the Debtors of their rights, powers, and duties
in continuing to operate and manage their business and assets;

     (b) advising the Debtors on the conduct of their cases,
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
Debtors' estates, including prosecuting actions on the Debtors'
behalf, defending any action commenced against the Debtors, and
representing the Debtors in negotiations concerning litigation in
which they are involved;

     (e) reviewing the nature and validity of agreements relating
to the Debtors' business and property, and advising the Debtors in
connection therewith;

     (f) reviewing the nature and validity of liens, if any,
asserted against the Debtors, and advising as to the enforceability
of such liens;

     (g) advising the Debtors concerning the actions they might
take to collect and recover property for the benefit of their
estate;

     (h) preparing legal papers and reviewing all financial reports
to be filed in the Debtors' cases;

     (i) advising the Debtors concerning, and preparing responses
to, legal papers, which may be filed by parties-in-interest in
their cases;

     (j) representing the Debtors in connection with obtaining
authority to continue using cash collateral and post-petition
financing;

     (k) appearing before the bankruptcy court and any appellate
courts;

     (l) advising the Debtors concerning tax matters;

     (m) advising the Debtors in connection with any potential sale
of assets;

     (n) assisting the Debtors in connection with the formulation,
negotiation and promulgation of a Chapter 11 plan;

     (o) performing all other legal services for the Debtors.

The firm will be paid at these rates:

     Partner      $450 to $800 per hour
     Of Counsel   $325 to $550 per hour
     Associate    $225 to $450 per hour
     Paralegal    $275 per hour

In addition, the firm will receive reimbursement for out-of-pocket
expenses incurred.

The firm received a retainer of $25,000 from the Debtor.

Vincent Roldan, Esq., a partner at Mandelbaum Barrett, 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:

     Vincent J. Roldan, Esq.
     Mandelbaum Barrett, P.C.
     3 Becker Farm Road
     Roseland, NJ 07068
     Tel: (973) 974-9815
     Email: vroldan@mblawfirm.com

                          About Floss Bar

Floss Bar, Inc. -- https://www.flossbar.com/ -- offers dental care
specializing in preventative, restorative and orthodontic
dentistry. It is based in New York.

Floss Bar and affiliate Med Bar, LLC each filed a petition for
relief under Subchapter V of Chapter 11 of the Bankruptcy Code
(Bankr. S.D.N.Y. Lead Case No. 22-11671) on Dec. 15, 2022. In the
petitions filed by their chief executive officer, Ewa Sadej, the
Debtors reported $1 million to $10 million in both assets and
liabilities.

Judge Michael E. Wiles oversees the cases.

The Debtors are represented by Vincent J. Roldan, Esq. at
Mandelbaum Salsburg P.C.


FUTURE VALUE: U.S. Trustee Appoints Creditors' Committee
--------------------------------------------------------
The U.S. Trustee for Region 17 appointed an official committee to
represent unsecured creditors in the Chapter 11 case of Future
Value Construction, Inc.

The committee members are:

     1. Wilson Bros, Inc. dba Wilson Brothers Roofing
        Representative: Kati Wilson
        10024 Rosedale Hwy
        Bakersfield, CA 93342
        Phone: 661-589-4297
        Email: kati@wilsonbrosroofing.com

     2. Millwood Cabinet Co. Inc.
        Representative: David Millwood (CEO)
        2321 Virginia Ave.
        Bakersfield, CA 93307
        Phone: 661-327-0371
        Email: millwoodcabinet@aol.com
  
Official creditors' committees serve as fiduciaries to the general
population of creditors they represent.  They may investigate the
debtor's business and financial affairs. Committees have the right
to employ legal counsel, accountants and financial advisors at a
debtor's expense.

                  About Future Value Construction

Future Value Construction, Inc. filed a Chapter 11 bankruptcy
petition (Bankr. E.D. Calif. Case No. 22-12016) on Nov. 28, 2022,
with up to $50,000 in assets and up to $10 million in liabilities.
Judge Jennifer E. Niemann oversees the case.

The Debtor is represented by the Law Office of D. Max Gardner.


GAINWELL HOLDING: S&P Downgrades ICR to 'B-', Outlook Stable
------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on Veritas
Capital–backed Gainwell Holding Corp. to 'B-' from 'B'. At the
same time, S&P lowered its issue-level rating to 'B' from 'B+' on
the company's senior secured debt. The '2' recovery rating
indicates its expectation of substantial (50%-70%; rounded
estimate: 70%) recovery in the event of default.

S&P said, "The stable outlook reflects our expectation that the
company will decrease leverage from 11x in fiscal 2023 to about 8x
in fiscal 2024, as the company increases revenue at a
high-single-digit rate and materially improves profitability over
the next 12 months as a significant amount of nonrecurring costs
subside. While we expect a significant FOCF deficit in fiscal 2023,
we expect the company to generate breakeven FOCF by fiscal 2024,
improving thereafter.

"Our 'B-' issuer credit rating reflects our expectation that cash
flow will be constrained for several years due to higher interest
expense, despite our expectation for improved adjusted EBITDA
margin in fiscal 2024 from lower integration and separation costs
and waning transformative investments in the business. During the
first half of 2022, strong revenue growth was driven by new
implementations, volume increase, and new contract wins while the
company also executed about $165 million (or 75%) of its cost
savings plan as of September 2022. We expect elevated costs in
fiscal 2023 and lower-than-expected EBITDA margins of about 22%
(fully burdened with nonrecurring costs), resulting from material
nonrecurring costs related to integration and separation costs and
one-time investments in the business, to reach a steady state in
fiscal 2024 as these costs subside, and margins improve to about
27%. We are also projecting higher base rates, resulting in
interest expense more than $150 million higher than our prior
expectations. We expect interest rates to peak in calendar 2023 but
remain high in 2024 and slowly taper. We expect the elevated
leverage of about 11x in fiscal 2023 to improve to about 8x in
fiscal 2024. In addition, we expect a significant cash flow deficit
in 2023, improving to breakeven free operating cash flow in 2024,
and improving more thereafter, which we view as consistent with a
'B-' rating. Given the company is private equity-owned, as cash
flow turns positive, we expect Gainwell to prioritize acquisitions
and potentially, dividends over debt reduction, and believe
additional debt-funded acquisitions are likely to keep leverage
very high.

"We believe there is still a risk of elevated expenses in the
integration of large back-to-back transactions of transitioning to
a stand-alone entity from DXC Technology Co. and acquiring HMS
capabilities.The company was spun off from DXC Technology Co. in
late 2020 and acquired HMS in April 2021, initiating a new
cost-savings plan and accelerating the deployment of cloud-based
health care solutions to better position itself strategically. We
view the company's ability to win new logos and develop new
capabilities at a time when it is undergoing integration and
business initiatives as indicative of the strength and stickiness
of its business. While the company reports it has achieved about
75% of its operational cost savings plan ($166M of $222M), we
believe some integration work remains, though with lower
restructuring expenses than in prior years. Nevertheless, the
realization of synergies could take longer and cost more than
anticipated, potentially further constraining cash flow for a
company with already very high leverage."

Gainwell has a strong market share (about 10%) in an industry
essential for states to run their Medicaid and other Health and
Human Services (HHS) programs. All states must operate a Medicaid
Management Information System (MMIS) to support Medicaid business
functions and to maintain information in areas such as provider
enrollment, client eligibility, benefit package maintenance,
managed care enrollment, claims processing, and prior
authorization. Gainwell offers a range of MMIS services to states
in the administration of their Medicaid programs, including claim
adjudication and editing, claims payments, and pre- and post-pay
coordination of benefits and technology-enabled services such as
clinical validation and claims review. The company operates on a
cloud-based software delivery platform that allows for flexible
architecture and modular capabilities and addresses state-specific
policies. The essential nature of the end market and the high
switching costs provide Gainwell with relatively high revenue and
earnings predictability. Of the 56 states and territories that
provide Medicaid services, 48 use an external MMIS as primary
provider. Gainwell is the primary in 32 states and territories and
has relationships with 51 (inclusive of other HHS business), with
average contract tenure of about six to 10 years. Although the
company benefits from mostly fixed-priced contracts (resulting in
stable revenue throughout the pandemic) largely reimbursed by the
federal government, which mitigates risk from state budget
shortfalls, S&P believes the market could become increasingly
competitive, leading to greater price negotiation or contract
losses.

S&P said, "The stable outlook reflects our expectation the company
will decrease leverage from 11x in fiscal 2023 to about 8x in
fiscal 2024, as the company increases revenue at a
high-single-digit rate and materially improves profitability over
the next 12 months as a significant amount of nonrecurring costs
subside. While we expect a significant FOCF deficit in fiscal 2023,
we expect the company to generate breakeven FOCF by fiscal 2024,
improving thereafter.

"We could revise our outlook to negative or lower our rating over
the coming quarters if we view Gainwell's capital structure as
likely unsustainable. This could occur if the company falls short
of our expectations for mid- to high-single digit revenue growth
and materially improved profitability by fiscal 2024, leading us to
expect continued cash flow deficits as the company seeks to access
capital markets ahead of its revolver maturing in 2025 and term
loan in 2027.

"We could raise the rating if we expect Gainwell to sustain free
cash flow to debt above 3%, generating consistent revenue and
EBITDA growth. In this scenario, we would view a subsequent
near-term leveraging action (either through a dividend or an
acquisition) to be unlikely."

ESG credit indicators: E2, S2, G3

S&P said, "Governance factors are a moderately negative
consideration in our credit rating analysis. Our assessment of the
company's financial risk profile as highly leveraged reflects
corporate decision-making that prioritizes the interests of the
controlling owners, in line with our view of the majority of rated
entities owned by private-equity sponsors. Our assessment also
reflects the generally finite holding periods and a focus on
maximizing shareholder returns."



GRAVITY HOLDINGS: Gets OK to Hire Ritchie Real Estate as Broker
---------------------------------------------------------------
Gravity Holdings, Inc. received approval from the U.S. Bankruptcy
Court for the Western District of Louisiana to employ Ritchie Real
Estate to market and sell its property in Alexandria, La.

The firm will be paid a commission of 6 percent of the gross sales
price.

Matthew Ritchie, a partner at Ritchie Real Estate, 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:

     Matthew Ritchie
     Ritchie Real Estate
     1268 Dorchester Dr.
     Alexandria, LA 71303
     Tel: (318) 449-8919

                       About Gravity Holdings

Gravity Holdings, Inc., a company in Elmer, La., filed a petition
under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. W.D.
La. Case No. 22-80538) on Oct. 26, 2022, with $2,113,100 in assets
and $2,077,503 in liabilities. Lucy G. Sikes has been appointed as
Subchapter V trustee.

Judge Stephen D. Wheelis oversees the case.

The Debtor tapped Thomas Willson, Esq., a practicing attorney in
Alexandria, La., to handle its Chapter 11 case. Roland D.
Kraushaar, CPA is the Debtor's accountant.


HAYES BUSINESS: Court OKs Cash Collateral Access Thru Jan 31
------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Texas,
Houston Division, authorized Hayes Business Solutions, 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 expenses that
may arise and pose a threat to the Debtor's continued operations.

Crown Financial, LLC asserts an interest in the Debtor's cash
collateral.

As adequate protection for the use of cash collateral, all
creditors are granted valid, perfected and enforceable replacement
security interests in and liens and mortgages upon all categories
of the property to the same extent and priority they possessed as
of the Petition Date.

The security interests, liens, mortgages granted:

     (a) will be in addition to all security interests, liens,
mortgages and rights to set off existing in favor of Crown on the
Petition Date;

     (b) in the same priority as the prepetition liens, security
interests and mortgages;

     (c) are and will be valid, perfected, enforceable, and
effective as of the Petition Date without any further action by the
Debtor or Crown and without the execution, filing or recordation of
any financing statements, security agreements, mortgages or other
documents; and

     (d) will secure payment of the prepetition indebtedness and
any interest, costs or other charges to which Crown may be entitled
post-petition.

As additional adequate protection, the Debtor will keep all
personal property Collateral.

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

              About Hayes Business Solutions, LLC

Hayes Business Solutions, LLC sought protection under Chapter 11 of
the U.S. Bankruptcuy Code (Bankr. S.D. Tex. Case No. 22-33190) on
October 27, 2022. In the petition filed by Timothy Hayes,
president, the Debtor disclosed up to $100,000 in assets and up to
$500,000 in liabilities.

Judge Christopher Lopez oversees the case.

Robert C Lane, Esq., at the Lane Law Firm, represents the Debtor as
legal counsel.



HEIRBNB LLC: Court OKs Interim Cash Collateral Access
-----------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Tennessee,
Nashville Division, authorized Heirbnb, LLC to use cash collateral
on an interim basis, in accordance with the budget.

The Court said the Small Business Administration will have a
perfected postpetition lien against cash collateral to the same
extent and with the same validity and priority as their respective
prepetition lien, without the need to file or execute any documents
as may otherwise be required under applicable non-bankruptcy law.

A copy of the order is available at https://bit.ly/3HiP8cu from
PacerMonitor.com.

                         About Heirbnb LLC

Heirbnb, LLC, a company in Hendersonville, Tenn., sought protection
under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Tenn.
Case No. 22-04015) on Dec. 14, 2022, with $2,525 in assets and
$1,099,032 in liabilities. Kate Carson, owner, signed the
petition.

Judge Charles M. Walker oversees the case.

Steven L. Lefkovitz, Esq., at Lefkovitz and Lefkovitz is the
Debtor's legal counsel.



IDC OVERSEAS: S&P Assigns 'B/B' ICRs, Outlook Stable
----------------------------------------------------
On Jan. 23, 2023, S&P Global Ratings assigned its 'B' long-term and
'B' short-term issuer credit ratings to IDC Overseas Ltd. (IDC).

The stable outlook on IDC reflects S&P's expectation that for the
next 12 months, the company will continue operating in the same
markets with modest participation and will have leverage well below
5x.

IDC is an asset manager that focuses on middle-market investment
activities primarily in the Central American market, with assets
under management (AUM) of about $2.5 billion as of September 2022.

The company offers a relatively wide variety of products but is
limited by a modest market share and a high concentration in terms
of clients and projects.

IDC previously offered consulting and advisory services for a
select clientele in Guatemala and Central America. Recently, it
consolidated as a financial conglomerate and expanded its product
offering to include more options for its clients. The company's AUM
is concentrated in private equity and venture capital funds, and to
a lesser extent within the real estate and capital markets
industries. Since late 2022, IDC has expanded to include social
impact funds and energy and infrastructure product offerings.
However, private equity and venture capital represent nearly 70% of
its total AUM within a small investor base. S&P expects the company
to consolidate its newer business units and diversify further in
terms of both clients and AUM distribution. This could help IDC to
become an important player in the middle-market investment
offerings in Central America.

The significant participation of both private equity and venture
capital within its total AUM generates high volatility in IDC's
revenues. The nature of these businesses results in a high
dependence on performance fees, which account for roughly 30% of
total revenues on average. In this sense, IDC's profitability is
affected by the carry of the realized projects and funds and the
generation of new ones. Furthermore, the adverse macroeconomic
conditions within the region where it operates could drag down the
number of and appetite for new investments and could hamper the
company's profitability and continue adding volatility to its
revenues.

IDC's capital structure relies predominantly on promissory notes
from friends and family and a few banking lines. This structure
limits the company's funding profile. However, IDC is making
efforts to begin diversifying its capital structure by including
additional banks and an unsecured debt program that will
standardize its issuances and relieve some operating expenses. S&P
expects IDC will begin managing its liabilities and exchanging
current notes for an initial issuance for up to $75 million in the
first half of 2023.

S&P said, "On the other hand, although we expect the company to
maintain similar leverage levels by exchanging current notes with
its first issuance, IDC has elevated adjusted leverage
levels--measured by debt to adjusted EBITDA--of about 4x. In our
calculation of adjusted EBITDA, we apply a haircut that equates to
50% of the five-year average of the company's net performance fees,
net retained carried interest, and realized investment income. In
our view, an important part of the company's revenues will continue
to come from performance fees, making our adjusted EBITDA more
susceptible to changes in IDC's total debt. Therefore, we forecast
that the company will continue to post debt to adjusted EBITDA
above 4x but well below 5x.

"IDC's liquidity currently depends on the number of notes payable
that it is able to refinance, given the notes' short tenors. In
this context, we consider its liquidity profile to be less than
adequate considering the number of notes that mature within the
next 12 months and the refinancing needs the company has.
Additionally, the current high interest rates could be an incentive
for investors to seek better yields elsewhere. This would generate
additional liquidity needs for the company that it will need to
compensate with additional resources. For the next 12 months, we
consider that the company has roughly $76 million of liquidity
sources across cash and liquid investments, cash funds from
operations (FFO), and new debt issuances--regardless if IDC goes
forward with its planned debt issuance or continues rolling over
its existing notes. We also consider its liquidity needs of nearly
$72 million that include debt maturities and working capital
needs.

"IDC's high reliance on the private equity sector leaves the
company more vulnerable than other asset managers we rate. In our
opinion, the private equity industry faces considerable challenges
for 2023 and could ultimately hinder IDC's revenue generation
capabilities. Additionally, the limited focus and client base
constrain any potential growth that could be significant enough to
compensate for the additional market volatilities that we expect in
the industries in which the company operates."

Environmental, Social, And Governance

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

S&P said, "Governance factors are a moderately negative
consideration in our credit rating analysis of IDC. The lack of
independent board members may result in insufficient oversight and
scrutiny of key enterprise risks and carries greater potential for
conflicts of interest. We also view as negative the concentration
of decision-making in a select few members of management and
insufficient succession planning. Although the company is
increasing its participation in social-oriented funds and projects,
the scale and impact of these isn't enough to affect our
assessments of social factors. Environmental risks are also neutral
for our rating analysis."



INNOVATIVE XCESSORIES: KKR Fund Marks $4.3M Loan at 19% Off
-----------------------------------------------------------
KKR Income Opportunities Fund has marked its $4,372,752 loan
extended to Innovative XCessories & Services LLC to market at
$3,524,044 or 81% of the outstanding amount, as of October 31,
2022, according to a disclosure contained in the KKR Fund's Form
N-CSR for the fiscal year ended October 31, 2022, filed with the
Securities and Exchange Commission on January 6, 2023.

KKR IOF is a participant in a first lien term loan to Innovative
XCessories & Services LLC. The loan accrues interest at a rate of
7.82% (LIBOR (1M) + 4.25%) per annum and matures on March 5, 2027.

KKR IOF was organized on March 17, 2011 as a statutory trust under
the laws of the State of Delaware. The Fund is a closed-end
registered management investment company, which commenced
operations on July 25, 2013. The Fund seeks to generate a high
level of current income, with a secondary objective of capital
appreciation. The Fund is diversified for purposes of the
Investment Company Act of 1940, as amended. KKR Credit Advisors
(US) LLC serves as the Fund's investment adviser.

Innovative XCessories & Services LLC designs, manufactures, and
markets automobile parts and accessories. The Company provides
products such as spray-on bedliners, side steps, graphics packages,
interior and exterior accessories components, and surface
coatings.



INTEGRATED NANO-TECHNOLOGIES: Taps Barclay Damon as Legal Counsel
-----------------------------------------------------------------
Integrated Nano-Technologies, Inc. seeks approval from the U.S.
Bankruptcy Court for the Western District of New York to employ
Barclay Damon, LLP to handle its Chapter 11 case.

The firm will be paid between $190 and $485 per hour for its
attorneys and between $135 and $185 per hour for paralegals.

Prior to the petition date, the Debtor paid the firm $105,475.50 to
prepare its Chapter 11 filing. From that amount, $57,327 was used
to pay pre-bankruptcy fees and expenses and $1,738 for court filing
fees, leaving $46,410.50 as general retainer.

Jeffrey Dove, Esq., a partner at Barclay Damon, disclosed in court
filings that his firm is a "disinterested person" within the
meaning of Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Jeffrey A. Dove, Esq.
     Barclay Damon, LLP
     Barclay Damon Tower
     125 East Jefferson Street
     Syracuse, NY 13202
     Telephone: (315) 413-7112
     Facsimile: (315) 703-7346
     Email: jdove@barclaydamon.com

                 About Integrated Nano-Technologies

Integrated Nano-Technologies, Inc. is a company in Henrietta, N.Y.,
which offers scientific research and development services.

Integrated Nano-Technologies filed its voluntary petition for
Chapter 11 protection (Bankr. W.D.N.Y. Case No. 22-20611) on Dec.
22, 2022, with $100,000 to $500,000 in assets and $10 million to
$50 million in liabilities. Donald H. Noble, chief financial
officer, signed the petition.

Judge Warren oversees the case.

Jeffrey A. Dove, Esq., at Barclay Damon, LLP serves as the Debtor's
legal counsel.


INTEGRATED PLAN: Court Confirms Reorganization Plan
---------------------------------------------------
Judge Sean H. Lane has entered an order approving the Disclosure
Statement on a final basis and confirming the Chapter 11 Plan of
Reorganization of Integrated Plan Design LLC.

Except with respect to claims filed late, the Reorganized Debtor
shall, within 90 days from the Effective Date, subject to extension
by further order of the Court, file any and all objections to the
allowance of any Claim to which objection has not heretofore been
made, and shall bring on for hearing such objections and any other
pending objections as promptly as practicable.  The Reorganized
Debtor is authorized and empowered to commence any adversary
proceeding necessary to the proper adjudication of such objection,
or necessarily related to same.  In the event of the failure to
file and serve any objection to a proof of Claim, or motion to
amend schedules with like effect, within said 90-day period, and
such period is not further extended by the Court, such objections
shall be deemed waived.

The Reorganized Debtor shall file, within 45 days after the date of
the Plan Confirmation Order, a status report detailing the actions
taken and the progress made toward the consummation of the Plan.
Reports shall be filed thereafter every January 15th, April 15th,
July 15th, and October 15th until a Final Decree has been entered.


The Equity Interests of the Debtor are cancelled as of the
Effective Date and new Equity Interests will be issued as set forth
in the Plan without further action of the Debtor, required.

The Plan has been accepted in writing pursuant to Section 1126(c)
of the Code by at least one class of creditors as defined in
Section 101(10) of the Code whose acceptance is required by law.

Integrated Plan Design filed with the Bankruptcy Court a Plan of
Reorganization and a Disclosure Statement on Nov. 14, 2022.
BroadRiver Asset Management, L.P., has now issued a term sheet for
the investment in Debtor of working capital (up to $2,000,000) as
well as funding for insurance premiums (initially a minimum of
$10,000,000).  BroadRiver is making up to $265,000 available upon
the Effective Date of the Plan to repay secured creditors, the
debtor-in possession lender, priority debts and administrative
expenses.  The
unsecured creditors will receive their pro rata share of 4% of
gross revenues beginning in the first quarter of the second year
following the Effective Date.  On the Effective Date the Debtor
will issue new equity interests in the Reorganized Debtor in
exchange for the agreed contribution of up to $2,000,000 of debtor
by BroadRiver with a minimum of $500,000, to be made on the
Effective Date.

A full-text copy of the Disclosure Statement dated Nov. 14, 2022,
is available at https://bit.ly/3TNDGIK from PacerMonitor.com at no
charge.

                    About Integrated Plan Design

Integrated Plan Design LLC was formed as a limited liability
company on Nov. 14, 2012, for the purpose of offering insurance or
insurance-related products. It is located at 800 Westchester
Avenue, Rye Brook, New York.

Integrated Plan Design sought voluntary Chapter 11 bankruptcy
protection (Bankr. S.D.N.Y. Case No. 22-22119) on March 14, 2022.
In the petition filed by Anrew A. Hyman, as manager, Integrated
Plan estimated total assets between $1 million and $10 million and
liabilities between $1 million and $10 million.  The case is
handled by Honorable Judge Sean H. Lane.  H. Bruce Bronson, Jr., of
Bronson Law Offices, P.C., is the Debtor's counsel.


JAM MEDIA: Court OK's Interim Cash Collateral Access
----------------------------------------------------
The U.S. Bankruptcy Court for the District of New Jersey authorized
Jam Media Solutions, LLC to use cash collateral on an interim basis
in accordance with the budget, nunc pro tunc to January 10, 2023.

The Debtor requires cash collateral access to continue operations
in the ordinary course.  

At the time of the Chapter 11 filing, the Debtor was indebted to
Newtek Small Business Finance, LLC in the amount of not less than
$3.480 million principal, interest and late charges, as of October
15,2022, as currently governed by the loan and security documents
between Newtek and the Debtor.

As adequate protection for use of cash collateral, Newtek is
granted a replacement perfected security interest in all
postpetition assets of the Debtor and a post-petition lien and
security interest on all postpetition property and assets of the
Debtor within the definition of Newtek Collateral.

To the extent the adequate protection proves insufficient to
protect Newtek's interest in the cash collateral, Newtek is granted
a superpriority administrative expense claim, pursuant to Section
507(b) of Bankruptcy Code.

The liens and security interests granted are automatically deemed
perfected upon entry of the Order without the necessity of Newtek
taking possession, filing financing statements, mortgages, or other
documents. Although not required.

The final hearing on the matter is set for February 15 at 11 a.m.

A copy of the order and the Debtor's budget is available at
https://bit.ly/3wjWp5r from PacerMonitor.com.

The Debtor projects $320,750 in total cash receipts and $245,634 in
total operating disbursements for the 13-week period ending April
10, 2023.

                About JAM Media Solutions, LLC

JAM Media Solutions, LLC is a media, entertainment, and digital
marketing solutions company that owns and operates radio stations,
live events and digital, mobile, print, social media properties.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D.N.J. Case No. 22-18193) on October 15,
2022. In the petition signed by Jonathan Mason, CEO, the Debtor
disclosed up to $500,000 in assets and up to $10 million in
liabilities.

Gabriel Del Virginia, Esq., at Law Office of Gabriel Del Virginia,
oversees the case.


JOHN'S FAMILY: Unsecureds to be Paid in Full From Buyer's Plan
--------------------------------------------------------------
John's Family, Inc. submitted a Second Amended Chapter 11 Plan of
Liquidation and a Second Amended Disclosure Statement.

The Debtor is a corporation formed under the laws of the State of
New Jersey. Its sole shareholder is Kun H. Kwak.  Its sole assets
are its ownership interest in the following properties:

   a. 164 University Avenue, Newark, New Jersey 07102, and also
known as Block 36, Lot 1 on the tax maps of the City of Newark, New
Jersey;

   b. 162 University Avenue, Newark, New Jersey 07102, and also
known as Block 36, Lot 2 on the tax maps of the City of Newark, New
Jersey;

   c. 160 University Avenue, Newark, New Jersey 07102, and also
known as Block 36, Lot 3 on the tax maps of the City of Newark, New
Jersey;

   d. 158 University Avenue, Newark, New Jersey 07102, and also
known as Block 36, Lot 4 on the tax maps of the City of Newark, New
Jersey;

   e. 156 University Avenue, Newark, New Jersey 07102, and also
known as Block 36, Lot 5 on the tax maps of the City of Newark, New
Jersey; and

   f. 53-55 Bleeker Street, Newark, New Jersey 07102, and also
known as Block 36, Lot 41 on the tax maps of the City of Newark,
New Jersey.

Pursuant to a prepetition appraisal for the Properties, they have a
collective value of approximately $8,670,000.  In order to prevent
the sheriff's sale of the Properties and preserve at least $1
million in equity, the Debtor filed the within Chapter 11
bankruptcy case.

According to the Plan, the Debtor has identified a buyer for the
Debtor.  The sale is anticipated to close on March 31, 2023 (from
Feb. 28, 2023 in the prior version of the Plan).  The buyer will
have 30 days to conduct due diligence.  The buyer executed a
Contribution Agreement -- in exchange for the payment from the
buyer to satisfy all creditors based upon their allowed claims, the
buyer will acquire 91% of the membership interest of the Debtors.
Mr. Kwak will acquire the remaining 9%.

The main points of the Contribution Agreement are:

    a. The buyer will form an Opportunity ZOne LLC in the State of
New Jersey;

    b. The initial amount of contribution will be $6,000,000.

    C. Purchaser will own 91% of the outstanding shares of the
company and John Kwan will own 9%.

An addendum to the Contribution Agreement that was signed Jan. 12,
2023, provides:


    * The due diligence period commenced on Jan. 10, 2023, and will
expire on Feb. 10, 2023.

    * The mortgage contingency will expire on March 10, 2023.

    * The closing of the Contribution Agreement will take palnce on
or before March 31, 2023.

    * The seller will coordinate with the rent receiver for various
site visits.

    * The seller will coordinate with the rent receiver to create
Airbnb units at the properties for the vacant residential
components of the properties.

Under the Plan, Class 3 General Unsecured Claims total $5,000, not
including claimants filing duplicative Claims 4 - 8, which have
asserted a secured claim in the amount of $550,881, based upon an
alleged "equitable lien," which are disputed.  Allowed Class 3
Claims will be paid in full from the proceeds upon closing of the
Contribution Agreement. Class 3 is impaired.

Class 4 Alleged Equitable Lien Claims of Alexander C. Best, Gustavo
Albuquerque, University Newark QOZB, LLC, Heciara Cerreto and
Ibrain Deabreu ("State Court Parties") in the amount of $550,881
which is disputed and subject to state court litigation. Allowed
Class 4 Claims shall be paid in full in an amount to be determined.


The Plan will be funded by the proceeds upon the closing of the
Contribution Agreement by a mortgage from BCB Bank and, if
necessary, funds from individual members, with closing anticipated
on or before March 31, 2023.

Counsel to John's Family Inc.:

     Anthony Sodono, III, Esq.
     Sari B. Placona, Esq.
     McMANIMON, SCOTLAND & BAUMANN, LLC
     75 Livingston Avenue, Suite 201
     Roseland, NJ 07068
     Tel: (973) 622-1800
     E-mail: asodono@msbnj.com
             splacona@msbnj.com

A copy of the Second Amended Disclosure Statement dated Jan. 13,
2023, is available at https://bit.ly/3XbrmV7 from
PacerMonitor.com.

                  About John's Family Inc.

John's Family Inc. sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. N.J. Case No. 22-17234) on Sept. 13,
2022. In the petition signed by Kun Kwak, its shareholder, the
Debtor disclosed up to $10 million in both assets and liabilities.

Judge Stacey L. Meisel oversees the case.

Anthony Sodono, III, Esq., at McManimon, Scotland & Baumann, LLC,
is the Debtor's counsel.


K&L EXCAVATING: U.S. Trustee Unable to Appoint Committee
--------------------------------------------------------
The U.S. Trustee for Region 10 disclosed in a court filing that no
official committee of unsecured creditors has been appointed in the
Chapter 11 case of K&L Excavating, LLC.
  
                       About K&L Excavating

K&L Excavating LLC is a privately owned excavating contractor in
Bedford, Ind.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Ind. Case No. 22-91144) on Dec. 14,
2022. In the petition signed by Kenneth D. Martin II, member, the
Debtor disclosed up to $100,000 in assets and up to $10 million in
liabilities.

Judge Andrea K. Mccord oversees the case.

John Allman, Esq., at Hester Baker Krebs, LLC, is the Debtor's
legal counsel.


KAISER ALUMINUM: S&P Downgrades ICR to 'BB-', Outlook Stable
------------------------------------------------------------
S&P Global Ratings lowered the issuer credit rating on Kaiser
Aluminum Corp. to 'BB-' from 'BB'. At the same time, S&P lowered
its issue-level ratings on Kaiser's unsecured notes to 'BB-'; the
recovery rating on this debt remains '4'.

S&P's stable outlook reflects its expectation that Kaiser's
leverage will recover below 4x, but profitability will remain
pressured while the Warrick mill continues to transition through
operational and inflationary challenges.

The Warrick mill, acquired in early 2021, has hurt Kaiser Aluminum
Corp.'s overall profitability and earnings over the past couple of
quarters.

Credit ratios and profitability rely heavily on improved
performance from the recently acquired Warrick rolling mill. The
underperformance of the Warrick mill, over the past several
quarters, highlights the risk of increased earnings concentration
as a result of the acquisition. While the increased size and
shipments are positive improvements to Kaiser's business, the
product mix shift to can-sheet will also impact the margin profile
of the overall business and increase the company's reliance on this
large asset for improved earnings. Can sheet is typically a
lower-margin business than aerospace and automotive applications.
Kaiser's margins during the five years before the acquisition were
an average of about 15%. S&P anticipates EBITDA margins to trend
toward 8% to 10% over the next 12 to 24 months, compared to 5% over
the past 12 months as of Sept. 30, 2022.

The Warrick mill has underperformed due to volume loss from the
disruption caused by its magnesium supplier failing to deliver
shipments and customer contracts that were unable to respond
rapidly enough to the inflationary environment. While the company
has secured additional sources of magnesium supply for 2023 onward,
input cost pass through for items such as fuel, labor, and other
nonmetallic raw material inputs remain challenging given contracts
can last up to 12 months. The company is currently in the process
of installing a new coating line at Warrick, which will increase
the share of higher-margin coated products. S&P said, "We expect
Kaiser's overall profitability to gradually recover over the next
several quarters as volumes recover and the new coating line is
completed later this year, improving the product mix. Additionally,
the ongoing ramp up in the aerospace business should also
contribute to margin recovery over the next 12 to 24 months. We
anticipate potential softness in the general engineering business
in 2023 to be somewhat offset by this continued aerospace
recovery."

S&P said, "We do not anticipate Kaiser's leverage to return below
4x until the end of 2023 as a result of weaker earnings from the
packaging business and higher debt balance. We anticipate EBITDA
will decline to about $150 million in 2022, compared to average
EBITDA generation of about $220 million during the years 2016 to
2019. The increased debt burden over the past several years has
meant less cushion and will result in leverage increasing to 7x. We
anticipate the challenges at Warrick will be resolved and earnings
should recover to $250 million to $300 million in 2023. However, we
see a risk that leverage could remain elevated if the company were
to experience additional issues at Warrick and weaker volumes and
earnings for the overall business based on S&P Global Ratings
forecast of 0.3% GDP growth in 2023 for the U.S. We assume the
packaging business will add approximately $100 million to $150
million of EBITDA over the longer term.

"Supply and demand conditions for the packaging business are
supportive because we expect demand to continue to grow and the
U.S. is short on can sheet capacity, despite announced capacity
additions. As a result, Kaiser has been able to secure incremental
pricing on contracts and customers are negotiating longer-term
contracts to secure supply. While trade cases have reduced rolled
aluminum products being imported into North America, can sheet
still faces competition from low-cost imports made from primary
aluminum. However, customers are becoming more focused on the
environmental impact of their products and recycled content of
aluminum sheet, made by producers like Kaiser.

"Our stable outlook reflects our expectation that Kaiser's leverage
will recover below 4x over the next 12 months, but profitability
will remain pressured while the Warrick mill continues to
transition through operational and inflationary challenges."

S&P could lower its ratings on Kaiser if leverage remains above 4x.
This could be the result of:

-- Further disruptions at Warrick leading to higher costs and
lower volumes.

-- Weaker-than-anticipated volumes due to slowing demand across
and weaker aerospace recovery.

-- Sustained negative free operating cash flow highlighting
deteriorating profitability.

S&P could raise its ratings on Kaiser if the company is able to
sustain debt to EBITDA below 3x. This could be the result of:

-- A year or two of improved earnings and margins from Warrick,
this could be due to investments improving the site or more
favorable contract pricing arrangements.

-- Good free cash flow applied to reduce debt levels

-- Rebound toward double-digit ROC from mid-single-digit.

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

S&P said, "ESG factors have an overall neutral influence on our
credit rating analysis of Kaiser. The company's secondary aluminum
production activities make it less exposed than companies that
produce primary aluminum. Kaiser manufactures flat-rolled aluminum
products and has lower environmental exposure than that of primary
aluminum manufacturers due to the lower emissions of secondary
aluminum production and relatively high use of scrap materials in
the process."



KINGS 828 TRUCKING: Seeks to Hire Eric A. Liepins as Legal Counsel
------------------------------------------------------------------
Kings 828 Trucking, LLC seeks approval from the U.S. Bankruptcy
Court for the Northern District of Texas to employ Eric A. Liepins,
PC as its bankruptcy counsel.

The Debtor requires legal assistance to liquidate its assets,
reorganize the claims of the estate, and determine the validity of
claims asserted in the estate.

The firm will be paid at these rates:

     Eric A. Liepins                   $275 per hour
     Paralegals and Legal Assistants   $30 to $50 per hour

In addition, the firm will seek reimbursement for expenses
incurred.

The firm received a retainer of $5,000, plus filing fee.

Mr. Liepins, the sole shareholder of the firm, 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:

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

                      About Kings 828 Trucking

Kings 828 Trucking, LLC filed a Chapter 11 bankruptcy petition
(Bankr. N.D. Texas Case No. 22-43131) on Dec. 22, 2022, with as
much as $1 million in both assets and liabilities. Judge Edward L.
Morris oversees the case.

The Debtor is represented by Eric A. Liepins, PC.


LAS VEGAS SKYDIVING: Unsecureds to Recover 11.25% Under Plan
------------------------------------------------------------
Las Vegas Skydiving Adventures, LLC, submitted a First Amended Plan
of Reorganization for Small Business under Chapter 11 dated Jan.
13, 2023.

The Plan Proponent's financial projections show that the Debtor
will have projected disposable income for the period described in
Section 1191(c)(2) of $25,245.  The final Plan payment is expected
to be paid on or before 3 years from confirmation.

The Plan of Reorganization under chapter 11 of the Bankruptcy Code
proposes to pay creditors of Las Vegas Skydiving Adventures, LLC
from Future Disposable Income.

Non-priority unsecured creditors holding allowed claims will
receive distributions, which the proponent of this Plan has valued
at approximately 11.25 cents on the dollar.  Under the Plan, Class
3 Non-priority Unsecured Creditors will get a total pot of $25,245,
with each taking on a pro-rata basis. Class 3 is impaired.

The Plan will be funded through cash flow generated from future
operation of the Business, and as may be necessary, from infusions
of additional money from Mr. Vassilev. This Plan will also be paid
by any funds gained through pursuit of malpractice claims against
previous trademark litigation counsel.

Attorneys for the Debtor:

     James T. Leavitt, Esq.
     LEAVITT LEGAL SERVICES, P.C.
     601 South 6th St.
     Las Vegas, NV 89101
     Tel: (702) 385-7444
     E-mail: jamestleavittesq@gmail.com

A copy of the First Amended Plan of Reorganization dated Jan. 13,
2023, is available at https://bit.ly/3Xcs0C5 from
PacerMonitor.com.

                   About Las Vegas Skydiving

Las Vegas Skydiving Adventures LLC has been in the business of
facilitating skydives, training skydive instructors, and granting
visitors to Southern Nevada with the experience of skydiving.

Las Vegas Skydiving Adventures filed a Chapter 11 bankruptcy
petition (Bankr. D. Nev. Case No. 22 13307) on Sept. 14, 2022.  The
Debtor is represented by James T. Leavitt, Esq. of LEAVITT LEGAL
SERVICES, P.C.


LEGACY FSRD: Wins Cash Collateral Access on Final Basis
-------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Legacy FSRD, Inc., f/k/a Fast Radius, Inc., and affiliates to use
cash collateral on a final basis in accordance with the budget.

The Debtor requires the use of cash collateral to administer and
preserve the value of its estates.

As of the Petition Date, pursuant to the Loan and Security
Agreement dated as of December 29, 2020, between Debtor Fast Radius
Operations, Inc. (f/k/a Fast Radius, Inc.) and SVB, the Borrower
was indebted to SVB in the aggregate principal amount of not less
than $7.372 million plus accrued and unpaid interest, fees, costs,
and other reimbursable expenses to the extent permissible under the
SVB Loan Documents.

As of the Petition Date, pursuant to the Loan and Security
Agreement dated as of September 10, 2021, between the Borrower and
SVB Innovation Credit Fund VIII, L.P., the Borrower was indebted to
SVB Capital in the aggregate principal amount of not less than
$16.468 million plus accrued and unpaid interest, fees, costs, and
other reimbursable expenses to the extent permissible under the SVB
Capital Loan Documents.

In addition to all of the existing security interests and liens
previously granted to the Prepetition Lenders, as adequate
protection for, and to secure the payment of any Diminution in
Value of their interests in the Prepetition Collateral, and as an
inducement for the Prepetition Lenders to permit the Debtors' use
of the cash collateral as provided for in the Final Order, the
Prepetition Lenders are granted, subject and subordinate to the
Carve Out, effective nunc pro tunc to the Petition Date, a
continuing, valid, binding, enforceable, non-avoidable, and
automatically and properly perfected postpetition senior security
interests in and liens on, subject and subordinate to the Carve Out
and an allowed superpriority administrative expense claim against
each Debtor in the chapter 11 cases and any successor cases with
priority over all other administrative expense claims and unsecured
claims against the Debtors or their estates.

A copy of the order is available at https://bit.ly/3R2WioA from
PacerMonitor.com.

                         About Fast Radius

Fast Radius, Inc. (OTCMKTS: FSRDQ) is a cloud manufacturing and
digital supply chain company in Chicago, Ill.

Fast Radius, Inc. and affiliates, Fast Radius Operations, Inc. and
Fast Radius PTE Ltd., sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 22-11051) on
Nov. 7, 2022.  In the petition signed by Patrick McCusker,
authorized signatory, Fast Radius, Inc. disclosed $69.329 million
in assets and $55.212 in liabilities.

Judge Kate Stickles oversees the case.

The Debtors tapped DLA Piper LLP (US) and Bayard, P.A., as legal
counsels; Lincoln Partners Advisors, LLC, as investment banker;
Alvarez & Marsal North, America, LLC as financial advisor; and
Stretto, Inc. as claims and noticing agent and administrative
advisor.

The U.S. Trustee for Region 3 appointed an official committee
ofunsecured creditors in the Debtors' Chapter 11 cases on Nov. 18,
2022.  The committee is represented by Potter Anderson Corroon,
LLP.



LSF11 A5: S&P Affirms 'B' Issuer Credit Rating, Outlook Stable
--------------------------------------------------------------
S&P Global Ratings affirmed its 'B' long-term issuer credit rating
on LSF11 A5 HoldCo LLC, 'B' issue-level ratings on the senior
secured first-lien debt, and 'B-' issue-level ratings on the senior
unsecured notes.

S&P said, "Our recovery ratings on the existing senior secured
first-lien debt and senior unsecured notes remain at '3' and '5',
respectively. A recovery rating of '3' denotes an expectation of
meaningful (50%-70%) recovery in the event of default. A recovery
rating of '5' denotes an expectation of modest (10%-30%) recovery
in the event of default.

"We assigned our 'B' issue-level and '3' recovery rating to the
proposed senior secured incremental first-lien term loan.

"The stable outlook reflects our view that despite the cyclical
nature of some of AOC's end-markets and the risk of a macroeconomic
recession, good operational execution and the absence of additional
events spurred by aggressive financial policy decisions will enable
the company to keep its credit measures at appropriate levels for
the ratings."

Composite resins producer AOC's debt-issuing parent holding company
LSF11 A5 HoldCo LLC is issuing a nonfungible incremental term loan
to help fund a shareholder distribution.

Despite the dividend recapitalization transaction, AOC's debt
leverage remains manageable for the ratings.

The company is raising at least $350 million in incremental secured
term loan debt. AOC will use these issuance proceeds, along with
almost $170 million coming from cash on hand, to fund the
shareholder distribution and to pay for fees and expenses. In S&P's
view, this will result in the company's adjusted debt to EBITDA
rising to the high end of the 3.5x-4.0x range compared to a 2.6x
run-rate as of Sept. 30, 2022. Despite the increase, however, this
debt level remains advantaged relative to the 5.0x-6.5x range we
expect for the current ratings.

AOC's operational execution has been solid, but S&P believes it may
experience lower volumes in 2023, which might test these
capabilities.

Through its commercial excellence initiatives, AOC's profitability
has remained strong during the past few quarters. The company has
reaped gains from effective pricing strategy and discipline and has
kept ahead of raw material cost inflation. It has also implemented
procurement-related actions to manage costs. Contribution margin
net of variable cost as of Sept. 30, 2022, is up about 20% from the
end of the prior fiscal year, and up about 130% from the end of
fiscal 2019. The company's adjusted EBITDA margins are quite good
relative to many other chemical companies. However, AOC started to
see volumes soften in late calendar 2022 as a result of
macroeconomic and geopolitical issues. Some modest demand
contraction started to occur in the Americas region in the third
and fourth calendar quarters, likely brought about by
housing-market-related weakness. The EMEA market saw modest demand
contraction and supply chain disruptions while the Asia region's
performance was hurt by plant maintenance- and COVID-19-related
shutdowns. In S&P's view, AOC may continue to see volume erosion
and operating results soften in 2023, with much of the impact felt
in the first half of the year. Ongoing discipline regarding
operational execution will be key to navigating the effects of a
slowdown in resin volumes and to keeping margin degradation
minimal.

S&P said, "The stable rating outlook on AOC reflects our belief
that despite additional debt from the dividend recapitalization
transaction, AOC's S&P Global Ratings-adjusted debt-to-EBITDA ratio
will remain healthy enough to provide ample cushion relative to the
5.0x-6.5x range we see as appropriate for the current ratings. The
transaction takes adjusted leverage to the mid-3x area compared to
the 2.6x run-rate leverage the company was operating under as of
Sept. 30, 2022. Our base-case scenario also contemplates EBITDA
interest coverage remaining well above 1.5x with liquidity
remaining adequate. Although some of AOC's end-markets are cyclical
and there is the portent of a mild recession this year, our view is
that the company's value proposition (more than 70% of AOC's
products are customized), rational competitive industry dynamics,
and ongoing good operational execution should keep the company's
operating performance solid over the next year. AOC may engage in
tuck-in acquisitions from time to time, but the rating does not
envision large, transformative debt-funded deals. Financial sponsor
Lone Star Funds could continue to undertake additional
distributions over time, but we do not envision ownership
increasing debt leverage to a level beyond what is expected at the
current ratings.

“We view a negative rating action within the next 12 months,
driven by a deterioration of AOC's operating performance, as
unlikely given the material rating headroom under our current base
case.”

However, S&P could lower its ratings on AOC over the next 12 months
if:

-- Business conditions in the coatings, adhesives, sealants, and
elastomers (CASE) and composite resins spaces deteriorate such that
AOC's EBITDA declines by more than 10%, causing adjusted debt
leverage to exceed 6.5x or EBITDA interest coverage to drop to
1.5x;

-- The company experiences unexpected delays or large adverse
changes in input costs without being able to realize sufficient
pricing gains on the sales side, compressing margins and
diminishing credit metrics;

-- It undertakes more aggressive financial policies (e.g.,
additional dividend payouts or engaging in an unexpectedly large
debt-financed acquisition), which sustains adjusted leverage above
6.5x with no clear prospects of recovery; or

-- Any combination of the above or other factors result in the
company's liquidity becoming constrained.

Rating upside over the next 12 months is constrained by the
majority private equity ownership, which S&P views as potentially
aggressive.

However, S&P could consider an upgrade if:

-- Lone Star Funds' (or any financial sponsor's) control of the
company diminishes to, and remains below, less than 40%, perhaps
via an initial public offering to a diverse set of institutional
owners who are likely to abide by less-aggressive financial
policies;

-- S&P believes there is a strong explicit commitment from
management and shareholders that adjusted leverage will be
sustainably maintained below 5.0x at all times;

-- The company exhibits a track record of abiding by conservative
financial policies with a low risk of re-leveraging; and

-- The company reduces the potential for volatility in earnings
and cash flows.

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

S&P said, "Environmental and social factors have no material
influence on our rating analysis on AOC, which produces specialty
resins (used in coatings, sealants, elastomers, and colorants) and
conventional composite resins. Governance factors are a moderately
negative consideration in our credit rating analysis of AOC, as is
the case for most rated entities owned by private equity sponsors.
We view financial sponsor-owned companies with highly leveraged
financial risk profiles as demonstrating corporate decision-making
that prioritizes the interests of the controlling owners, typically
with finite holding periods and a focus on maximizing shareholder
returns."



MANHATTAN CAPITAL: Plan Outline WIthdrawn; Dismissal Looms
----------------------------------------------------------
Judge Eric L. Frank convened a hearing on debtor Manhattan Capital
Inc.'s motion for approval of its Disclosure Statement on Jan. 18,
2023.  According to court filings, the Dislosure Statement Motion
is withdrawn, and the judge is slated to hear a motion by a
creditor to dismiss the Chapter 11 case.

Judge Frank has ordered that:

   * On or before Jan. 25, 2023, Starbucks Corporation will file a
motion to dismiss this bankruptcy case.

   * On or before Feb. 3, 2023, the Debtor shall file:

      a. its response to the Motion to Dismiss;

      b. a proposed amended chapter 11 plan

      c. if an adversary proceeding has not been commenced, a draft
adversary complaint asserting the franchise/licensing claims
described in court on Jan. 18, 2023 ("the AP Claims") (the draft
complaint to be attached as an exhibit to the response to the
Motion to Dismiss);

      d. a memorandum of law outlining the legal theories that
support the AP claims.

   * On or before Feb. 8, 2023, Starbucks may file a supplement to
the Motion to Dismiss addressing the AP Claims and the amended
chapter 11 plan and a memorandum of law in support of its position
on all matters

A hearing on the Motion to Dismiss is SCHEDULED on Feb. 10, 2023,
at 9:30 a.m.  The hearings will be conducted by videoconference
using "Zoom" Technology.  Any person wishing to appear or attend
the hearing may obtain access information by contacting the
Courtroom Deputy.

Manhattan Capital, LLC, filed a Plan of Reorganization and a
Disclosure Statement dated Nov. 4, 2022.  Through the Plan, the
Debtor seeks to continue to operate at the subsidiary-store level,
assume the Starbucks Agreement and pay the Cure Amount by making
the Cure Payments, as those terms are defined in the Plan.  The
Debtor also seeks to make a distribution to Allowed Unsecured
Creditors, pay its quarterly fees owed to the Office of the United
States Trustee and address any administrative fees that arise in a
timely manner. A copy of the Disclosure Statement dated Nov. 4,
2022, is available at https://bit.ly/3zM1FRC from
PacerMonitor.com.

Starbucks Corporation opposed approval of the Disclosure
Statement.

"This Chapter 11 Case is manifestly a two-party dispute that the
Debtor is trying to resolve in its fàvor through exploitation of
the bankruptcy process. The Debtor's proposed plan of
reorganization forces Starbucks to act as a defacto lender to
finance (interest-free) the amounts Starbucks is owed under its
master licensing agreement (the "Agreement") so that the Debtor can
"cure" its defaults (in installment payments extending over a
period of four (4) years) and assume the Agreement over Starbucks'
objection. Given the Debtor's postpetition failure to pay at least
$220,000 due to Starbucks under the Stipulation and its history of
repeøtedly failing to honor its obligations under the Agreement
and various extended payment plans, Starbucks has no confidence
that the Debtor can or will adhere to the terms of the Plan or any
proposed plan it may seek to have this Court confirm," Starbucks
tells the Court.

According to Starbucks, the proposed Plan suffers from at least
three main defects that render the Plan patently unconfirmable and
require denial of approval of the proposed Disclosure Statement:

    * First, the Plan is premised on assumption of the Agreement,
but fails to provide prompt cure of all defaults thereunder in
violation of 11 U.S.C. Section 365, which, in turn, violates
Section 1129(a)(1)'s requirement that a plan comply with all
requirements of the Bankruptcy Code.

    * Second, by proposing a plan that fails to allow the creditor
holding more than
99% of claims against the Debtor by dollar value from voting
thereon, the Debtor cannot be found to be proceeding in good
faith.

    * Third, the Plan is unfeasible on its face as the only
financial disclosures made in connection therewith identifu only
$200 in cash to satisfu: (a) at least $75,000 in estimated
professional fees, (b) $6,000 proposed to be paid to the Other
Creditor, (c) over $4 miillion in cure amounts required to be paid
to Starbucks to assume the Agreement, (d) any outstanding quarterly
fees required to be paid to the UST, and (e) any other
administrative claims -- which are not required to be filed under
the Plan until 30 days after confirmation -- including at least
$220,000 owed to Starbucks on a postpetition basis.

Attorneys for Starbucks Corp:

         LANDIS RATH & COBB LLP
         Kimberly A. Brown
         Matthew R. Pierce
         Howard W. Robertson IV
         919 Market Street, Suite 1800
         Wilmington, Delaware 19801
         Telephone: (302) 467-4400
         Facsimile: (302) 467 -4450
         E-mail: brown@lrclaw.com
                 pierce@lrclaw.com
                 robertson@lrclaw.com

Attorneys for the Debtor:

        Albert A. Ciardi, ITI, Esq.
        Jennifer C. McEntee, Esq.
        CIARDI CIARDI & ASTIN
        1905 Spruce Street
        Philadelphia, PA 19103
        Telephone: (215) 557-3550
        Facsimile: (215) 557-3551
        E-mail: aciardi@ciardilaw.com
                jcranston@ciardilaw.com

                      About Manhattan Capital

Manhattan Capital LLC owns 72.5% of Manhattan Capital SB, LLC,
which owns eight Starbucks locations in Kentucky, Tennessee and
Colorado.  Manhattan Capital LLC and Starbucks Corp. are parties to
a Starbucks Master Licensing Agreement executed on Sept. 27, 2016,
which granted the former a nonexclusive license to construct, open,
and operate a certain number of Starbucks Stores and to use the
Starbucks System and Trademarks to operate such stores.

With overdue payments owed to Starbucks, Manhattan Capital, LLC,
filed its voluntary petition for relief under Chapter 11 of the
Bankruptcy Code (Bankr. E.D. Pa. Case No. 22-12207) on Aug. 23,
2022, listing as much as $50,000 in assets and $1 million to $10
million in liabilities. Gerald Katzoff, managing member, signed the
petition.  

Judge Eric L. Frank presides over the case.

Albert A. Ciardi III, Esq., at Ciardi Ciardi & Astin, is the
Debtor's counsel.


MANHATTAN CAPITAL: Starbucks Says Plan Not Feasible
---------------------------------------------------
Starbucks Corporation objects to Manhattan Capital, LLC's Motion
for Approval of the Disclosure Statement and for the fixing of
dates for the Filing of Acceptances, Rejections, or Objections to
the Plan of Reorganization.

"This Chapter 11 Case is manifestly a two-party dispute that the
Debtor is trying to resolve in its favor through exploitation of
the bankruptcy process. The Debtor's proposed plan of
reorganization forces Starbucks to act as a de facto lender to
finance (interest-free) the amounts Starbucks is owed under its
master licensing agreement (the "Agreement") so that the Debtor can
"cure" its defaults (in installment payments extending over a
period of 4 years) and assume the Agreement over Starbucks'
objection. Given the Debtor's post-petition failure to pay at least
$220,000 due to Starbucks under the Stipulation and its history of
repeatedly failing to honor its obligations under the Agreement and
various extended payment plans, Starbucks has no confidence that
the Debtor can or will adhere to the terms of the Plan or any
proposed plan it may seek to have this Court confirm," Starbucks
tells the Court.

According to Starbucks, the proposed Plan suffers from at least
three main defects that render the Plan patently unconfirmable and
require denial of approval of the proposed Disclosure Statement:

   * First, the Plan is premised on assumption of the Agreement,
but fails to provide prompt cure of all defaults thereunder in
violation of Bankruptcy Code section 365, which, in turn, violates
Bankruptcy Code section 1129(a)(1)'s requirement that a plan comply
with all requirements of the Bankruptcy Code.

   * Second, by proposing a plan that fails to allow the creditor
holding more than 99% of claims against the Debtor by dollar value
from voting thereon, the Debtor cannot be found to be proceeding in
good faith.

   * Third, the Plan is unfeasible on its face as the only
financial disclosures made in connection therewith identify only
$200 in cash to satisfy: (a) at least $75,000 in estimated
professional fees, (b) $6,000 proposed to be paid to the Other
Creditor, (c) over $4 million in cure amounts required to be paid
to Starbucks to assume the Agreement, (d) any outstanding quarterly
fees required to be paid to the UST, and (e) any other
administrative claims - which are not required to be filed under
the Plan until 30 days after confirmation - including at least
$220,000 owed to Starbucks on a post-petition basis.

Additionally, Starbucks asserts that the Motion should be denied
because the Debtor's Disclosure Statement fails to provide
"information of a kind, and in sufficient detail, as far as is
reasonably practicable in light of the nature and history of the
debtor and the condition of the debtor's books and records… that
would enable such a hypothetical investor of the relevant class to
make an informed judgment about the [P]lan," 11U.S.C. section
1125(a)(1). Specifically, in addition to being riddled with
inaccurate and incomplete information, the Disclosure Statement
fails to provide any information regarding the Debtor's ability to
pay the amounts proposed under the Plan and the limited information
on record in this Chapter 11 Case illustrates that the Debtor is
administratively insolvent today.

Finally, given that this Chapter 1l Case is a two-party dispute at
its core, Starbucks asserts that the Court should sua sponte
dismiss this case. The Debtor has had over 3 months since the
status conference before this Court to try to reach an agreement
with Starbucks that would provide a consensual path forward in this
Chapter 11 Case and to date no progress has been made. For these
reasons and those set forth herein, the Chapter 11 Case should be
sua sponte dismissed or, at a minimum, the Plan should be deemed
unconfirmable and approval of the Disclosure Statement denied.

Counsel to Starbucks Corporation:

     Kimberly A. Brown, Esq.
     Matthew R. Pierce, Esq.
     Howard W. Robertson IV, Esq.
     LANDIS RATH & COBB LLP
     919 Market Street, Suite 1800
     Wilmington, DE 19801
     Telephone: (302) 467-4400
     Facsimile: (302) 467-4450
     E-mail: brown@lrclaw.com
             pierce@lrclaw.com
             robertson@lrclaw.com

                      About Manhattan Capital

Manhattan Capital LLC owns 72.5% of Manhattan Capital SB, LLC,
which owns eight Starbucks locations in Kentucky, Tennessee and
Colorado.  Manhattan Capital LLC and Starbucks Corp. are parties to
a Starbucks Master Licensing Agreement executed on Sept. 27, 2016,
which granted the former a nonexclusive license to construct, open,
and operate a certain number of Starbucks Stores and to use the
Starbucks System and Trademarks to operate such stores.

With overdue payments owed to Starbucks, Manhattan Capital, LLC,
filed its voluntary petition for relief under Chapter 11 of the
Bankruptcy Code (Bankr. E.D. Pa. Case No. 22-12207) on Aug. 23,
2022, listing as much as $50,000 in assets and $1 million to $10
million in liabilities. Gerald Katzoff, managing member, signed the
petition.  

Judge Eric L. Frank presides over the case.

Albert A. Ciardi III, Esq., at Ciardi Ciardi & Astin, is the
Debtor's counsel.


MEDME SERVICES: Gets OK to Hire E.P. Bud Kirk as Bankruptcy Counsel
-------------------------------------------------------------------
MEDME Services Corporation received approval from the U.S.
Bankruptcy Court for the Western District of Texas to employ E.P.
Bud Kirk, Esq., an attorney practicing in El Paso, Texas.

The Debtor requires an attorney to:

     (a) advise the Debtor regarding its power and duties in the
continued operation of its business and management of its
properties;

     (b) review the various contracts entered by the Debtor;

     (c) represent the Debtor in the collection of its accounts
receivable, if needed;

     (d) prepare all necessary legal papers;

     (e) assist the Debtor in the formulation and negotiation of a
Chapter 11 plan with its creditors;

     (f) review all presently pending litigation in which the
Debtor is a participant;

     (g) review the Debtor's pre-bankruptcy transactions;

     (h) examine all tax claims filed against the Debtor; and

     (i) provide other necessary legal services.

Mr. Kirk will be paid at these rates:

     E.P. Bud Kirk, Partner   $300 per hour
     Maura Casas, Paralegal   $125 per hour

In addition, the attorney will receive reimbursement for
out-of-pocket expenses incurred.

The attorney received a retainer of $8,283 from the Debtor.

Mr. Kirk disclosed in a court filing that he is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code.

Mr. Kirk holds office at:

     E.P. Bud Kirk, Esq.
     600 Sunland Park Drive
     Bldg. Four, Suite 400
     El Paso, TX 79912
     Telephone: (915) 584-3773
     Facsimile: (915) 581-3452
     Email: budkirk@aol.com

                  About MEDME Services Corporation

MEDME Services Corporation filed a Chapter 11 bankruptcy petition
(Bankr. W.D. Texas Case No. 22-31111) on Dec. 22, 2022, with as
much as $1 million in both assets and liabilities. Judge H.
Christopher Mott oversees the case.

The Debtor is represented by E.P. Bud Kirk, an attorney practicing
in El Paso, Texas.



MILLER'S QUALITY MEATS: Seeks Cash Collateral Access
----------------------------------------------------
Miller's Quality Meats, LLC asks the U.S. Bankruptcy Court for the
Western District of Pennsylvania for authority to use cash
collateral in accordance with its agreement with MMG REO II, LLC.

The Debtor and MMG negotiated a consensual use of cash collateral
consistent with the budget.

MMG is the mortgagee of the Debtor's real property located in
Butler County. MMG has a secured interest in Debtor's accounts
receivable, inventory, chattel papers, and other valuable assets of
the Debtor's business as set forth in a UCC Financing Statement on
record with the Pennsylvania Secretary of State.

As adequate protection, MMG will be granted post-petition liens to
the same extent that it had valid pre-petition liens on the
Debtor's A/R and inventory.

The Debtor will also make adequate protection payments of $2,000
per month.

A copy of the motion is available at https://bit.ly/3kzrtf2 from
PacerMonitor.com.

                 About Miller's Quality Meats, LLC

Miller's Quality Meats, LLC produces and sells high-quality dried,
spiced, and smoked meat products to both retail and individual
customers. The Debtor sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. W.D. Pa. Case No. 22-22280) on
November 17, 2022. In the petition signed by James Perko, managing
member, the Debtor disclosed up to $1million in both assets and
liabilities.

Ryan J. Cooney, Esq., at Cooney Law Offices, represents the Debtor
as legal counsel.


MISYS LTD: KKR Fund Marks $8M Loan at 25% Off
---------------------------------------------
KKR Income Opportunities Fund has marked its $8,063,622 loan
extended to Misys Ltd to market at $6,047,757 or 81% of the
outstanding amount, as of October 31, 2022, according to a
disclosure contained in the KKR Fund's Form N-CSR for the fiscal
year ended October 31, 2022, filed with the Securities and Exchange
Commission on January 6, 2023.

KKR IOF is a participant in a second lien term loan to Misys Ltd.
The loan accrues interest at a rate of 10.62% (LIBOR (3M) + 7.25%)
per annum and matures on June 13, 2025.

KKR IOF was organized on March 17, 2011 as a statutory trust under
the laws of the State of Delaware. The Fund is a closed-end
registered management investment company, which commenced
operations on July 25, 2013. The Fund seeks to generate a high
level of current income, with a secondary objective of capital
appreciation. The Fund is diversified for purposes of the
Investment Company Act of 1940, as amended. KKR Credit Advisors
(US) LLC serves as the Fund's investment adviser.

Misys Group Limited designs and develops financial services
software. The Company offers retail, lending, banking, capital
market, and investment and enterprise risk management software.



MONITRONICS INTERNATIONAL: KKR Fund Marks $5.3M Loan at 33% Off
---------------------------------------------------------------
KKR Income Opportunities Fund has marked its $5,334,696 loan
extended to Monitronics International, Inc to market at $3,547,599
or 67% of the outstanding amount, as of October 31, 2022, according
to a disclosure contained in the KKR Fund's Form N-CSR for the
fiscal year ended October 31, 2022, filed with the Securities and
Exchange Commission on January 6, 2023.

KKR IOF is a participant in a first lien term loan to Monitronics
International, Inc. The loan accrues interest at a rate of 11.91%
(LIBOR (3M) + 7.50%) per annum. The loan matures on March 29,
2024.

KKR IOF was organized on March 17, 2011 as a statutory trust under
the laws of the State of Delaware. The Fund is a closed-end
registered management investment company, which commenced
operations on July 25, 2013. KKR Credit Advisors (US) LLC serves as
the Fund's investment adviser.

Monitronics International, Inc. (doing business as Brinks Home) is
an American company that offers home security systems.



MONROE GARDENS: Taps Foti Flynn Lowen & Co. as Accountant
---------------------------------------------------------
Monroe Gardens, LLC seeks approval from the U.S. Bankruptcy Court
for the Southern District of West Virginia to employ Foti Flynn
Lowen & Co., P.C. as its accountant.

The firm will be paid $1,500 per annum for the preparation of state
and federal tax returns, and $3,600 per year for review of
records.

As disclosed in court filings, Foti Flynn Lowen & Co. is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.

The firm can be reached at:

     Foti Flynn Lowen & Co., P.C.
     P.O. Box 12765
     Roanoke, VA 24028
     Tel: (540) 344-9246

                       About Monroe Gardens

Monroe Gardens, LLC owns three properties in Talcott, W.Va;
Roanoke, Va.; and Beckley, W.Va., having a total aggregate value of
$2.29 million.

Monroe Gardens filed a petition for relief under Subchapter V of
Chapter 11 of the Bankruptcy Code (Bankr. S.D. W.Va. Case No.
22-50094) on Dec. 23, 2022, with up to $500,000 in assets and up to
$10 million in liabilities. Joe Mark Supple has been appointed as
Subchapter V trustee.

Judge B. Mckay Mignault oversees the case.

Andrew S. Nason, Esq., at Pepper & Nason and Foti Flynn Lowen &
Co., P.C. serve as the Debtor's legal counsel and accountant,
respectively.



MOVIA ROBOTICS: Court OKs Cash Collateral Access Thru Feb 2
-----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Connecticut, Hartford
Division, authorized Movia Robotics, Inc. to use cash collateral on
an interim basis in accordance with the budget, with a 10%
variance, through February 2, 2023.

The Debtor requires the use of cash collateral to pay business
expenses.

The U.S. Small Business Administration, Clean Feet Investors I,
LLC, and J.P. Bolat/The Bolat Group assert an interest in the
Debtor's cash collateral.

In exchange for the preliminary use of cash collateral by the
Debtor and as adequate protection, the SBA, Clean Feet, Webster
Bank, and J.P Bolat/The Bolat Group are granted replacement and/or
substitute liens as provided in 11 U.S.C. section 361(1) in all
post-petition assets of the Debtor and proceeds thereof, excluding
any bankruptcy avoidance causes of action, and such replacement
liens will have the same validity, extent and priority that the
SBA, Clean Feet, Webster Bank, and J.P Bolat/The Bolat Group
possessed on the Petition Date.

The Debtor will also provide to the SBA, Clean Feet, Webster Bank,
and J.P. Bolat/The Bolat Group monthly statements reflecting the
financial activity of the Debtor.

The liens of the SBA, Clean Feet, Webster Bank and J.P Bolat/The
Bolat Group and any replacement thereof, and any priority to which
the SBA, Clean Feet, Webster Bank and J.P Bolat/The Bolat Group may
be entitled or become entitled under section 507(b), will be
subject and subordinate to a carve-out of such liens for amounts
payable by the Debtor for (i) fees of the United States Trustee
under 28 U.S.C. section 1930(a)(6); (ii) wages due the Debtor's
employees and (iii) court-approved fees of the Debtor's
professionals.

A final hearing on the matter is set for January 31 at 11 a.m.

A copy of the order and the Debtor's budget is available at
https://bit.ly/3XN7qrQ from PacerMonitor.com.

The Debtor projects $14,694 in total revenue and $40,336 in total
expenses.

                   About Movia Robotics, Inc.

Movia Robotics, Inc. sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Conn. Case No. 23-20024) on January 18,
2023. In the petition signed by Timothy Gifford, president, the
Debtor disclosed up to $10 million in both assets and liabilities.

Judge James J. Tancredi oversees the case.

Timothy D. Miltenberger, Esq., at Cohn Birnbaum & Shea, P.C.,
represents the Debtor as legal counsel.



MUSE THREADS: Court OKs Cash Collateral Access on Final Basis
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Columbia authorized
Muse Threads, Inc. to use the cash collateral of Celtic Bank
Corporation on a final basis in accordance with the budget.

The Court said the secured creditors will have a replacement lien,
to the extent of any and all cash collateral used by the Debtor, on
the Debtor's future cash and receivables -- which the Debtor will
be free to continue to expend in the ordinary course of its
business -- to the extent the Secured Creditors had a valid and
properly perfected security interest in the Debtor's prepetition
cash or receivables.

The Debtor will not permit cash collateral earmarked or withheld to
pay use and sales tax obligations to state or local governments to
be spent for any purpose other than to pay post-petition use and
sales tax obligations.

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

                      About Muse Threads Inc.

Muse Threads Inc. sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Col. Case No. 22-00238) on December 23,
2022. In the petition signed by Whitney Mirts, majority
shareholder, the Debtor disclosed $1,639,487 in assets and $784,772
in liabilities.

Judge Elizabeth L. Gunn oversees the case.

Mahlon Mowrer, Esq., at The Belmont Firm, is the Debtor's legal
counsel.



MY FLORIDA CASE: U.S. Trustee Unable to Appoint Committee
---------------------------------------------------------
The U.S. Trustee for Region 21, until further notice, will not
appoint an official committee of unsecured creditors in the Chapter
11 case of My Florida Case Management Services, LLC, according to
court dockets.
    
             About My Florida Case Management Services

My Florida Case Management Services, LLC is a community behavioral
health in Sweetwater, Fla.

My Florida Case Management Services, LLC filed its voluntary
petition for relief under Chapter 11 of the Bankruptcy Code (Bankr.
S.D. Fla. Case No. 22-19656) on Dec, 20, 2022. At the time of
filing, the Debtor estimated $500,001 to $1 million in both assets
and liabilities.

The case was assigned to Judge Robert A Mark.

Chad T. Van Horn, Esq., at Van Horn Law Group, P.A. represents the
Debtor as counsel.


NERVIVE INC: Seeks Cash Collateral Access
-----------------------------------------
Nervive, Inc. asks the U.S. Bankruptcy Court for the District of
Delaware for authority to use cash collateral and provide adequate
protection.

The Debtor requires the use or cash collateral to pay the expenses
of operating its business and other administrative expenses during
the pendency of the Chapter 11 Case.

On December 22, 2022, Savoir Capital BV loaned the Debtor $50,000
in exchange for a lien on all of the Debtor's assets. Savoir has
properly perfected its security interest in the Debtor's personal
property by filing a UCC-1 financing statement. To the extent
Savoir holds a lien on the Debtor's cash on hand, the Debtor
requires authority from the Court to use those funds, which would
constitute cash collateral, as needed for the continued operation
of the Debtor's business during the pendency of the Chapter 11
Case.

Like Savoir, Mark Borsody also filed a UCC-1 financing statement
purporting to secure a lien on "all business assets" of the Debtor,
but the Debtor is not aware of any basis for Borsody's lien. While
the Debtor executed a secured note with Borsody in 2015, a
subsequent agreement between the Debtor and Borsody dated January
1, 2017, expressly provided that "any debt, payment, salary, or fee
due to [Borsody] from the Company incurred prior to January 1,
2017, is void and/or considered paid-in-full." Nonetheless, out of
an abundance of caution, the Debtor requests authority from the
Court to use its cash on hand for the continued operation of its
business during the pendency of the Chapter 11 Case, which funds
would constitute cash collateral in the event that Borsody were
determined to have a valid and perfected security interest in such
funds.

The Debtor intends to provide Savoir with adequate protection,
which includes a replacement lien in the cash collateral, to the
extent of the use of the cash collateral in which Savoir holds a
security interest. The Debtor does not intend to offer adequate
protection to Borsody, and Debtor does not believe or concede that
Borsody holds a valid lien against any of the Debtor's property.

A copy of the motion is available at https://bit.ly/3kwkp2C from
PacerMonitor.com.

                       About Nervive Inc.

Nervive Inc. -- https://nervive.com/ -- is a medical clinic that
offers emergency treatment for strokes.  Nervive is a for-profit
C-Corp incorporated in Delaware in December 2013, with headquarters
in North East Ohio.  Nervive has invested over $10 million in
research and development to date, mostly in the form of
non-dilutive research grants.

Nervive's Vitalflow(TM) is a novel platform technology that
stimulates the facial nerve using non-invasive pulsed magnetic
energy, resulting in increased blood flow to the brain.  The
VitalFlowis expected to improve the effectiveness of existing
emergency stroke treatments, increasing the delivery of tPA and
other clot-busting drugs to the site of arterial obstruction and
facilitating the navigation of clot-retrieval catheters through the
dilated arteries of the brain.

Nervive Inc. filed a petition for relief under Subchapter V of
Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No.
23-10009) on Jan. 9, 2023.  In the petition filed by Emilio
Sacristan, as CEOr, the Debtor reported assets and liabilities
between $1 million and $10 million.

Jami B Nimeroff has been appointed as Subchapter V trustee.

The Debtor is represented by Bradley P. Lehman, Esq., at Gellert
Scali Busenkell & Brown, LLC.



PAYA HOLDINGS III: Moody's Puts 'B1' CFR on Review for Upgrade
--------------------------------------------------------------
Moody's Investors Service placed Paya Holdings III, LLC's B1
Corporate Family Rating, B1-PD Probability of Default Rating and B1
senior secured rating on review for upgrade. The outlook was
changed from stable to rating under review. The Speculative Grade
Liquidity Rating is unchanged at SGL-1.

The rating action follows Nuvei Corporation's (rated entity Nuvei
Technologies Corp., "Nuvei", Ba3 stable) announcement to acquire
Paya in an all-cash transaction for equity consideration of
approximately $1.3 billion. The transaction is subject to customary
closing conditions, receipt of applicable regulatory review and
shareholder approvals and targeted to close by the end of the first
quarter of 2023.

On Review for Upgrade:

Issuer: Paya Holdings III, LLC

Corporate Family Rating, Placed on Review for
Upgrade, currently B1

Probability of Default Rating, Placed on Review for
Upgrade, currently B1-PD

Senior Secured Bank Credit Facility, Placed on Review
for Upgrade, currently B1 (LGD3)

Outlook Actions:

Issuer: Paya Holdings III, LLC

Outlook, Changed To Rating Under Review From Stable

RATINGS RATIONALE / FACTORS THAT COULD LEAD TO AN UPGRADE OR
DOWNGRADE OF THE RATINGS

Moody's review will consider the amount of outstanding debt, if
any, that remains in Paya's capital structure post-closing, the
extent of Nuvei's support for the remaining debt, and the position
of such remaining debt within Nuvei's capital structure. If the
debt is repaid in full, Moody's will withdraw all of Paya's
ratings, including the CFR and instrument ratings.

Paya's B1 CFR reflects small business scale in the highly
competitive merchant acquiring sector, which is counterbalanced by
its differentiated positions in defensive niche market verticals,
high contribution of integrated payments including business to
business (B2B) accounts receivable automation solutions, high
proportion of card not present revenues, and relatively low
customer attrition rates. These factors result in relatively high
stability of business profile, as evidenced by the company's growth
through the pandemic. Paya's business prospects benefit from
positive secular trends that accelerated during the pandemic,
including cash displacement by electronic payments and increasing
penetration of integrated payments in B2B flows.

Liquidity is very good as indicated by the Speculative Grade
Liquidity (SGL) rating of SGL-1, reflecting $156 million of cash as
of September 30, 2022 as well as Moody's expectation of over $30
million of free cash flow over the next 12 months. Liquidity is
also supported by an undrawn $45 million revolving credit facility
that matures in 2026. The revolving credit facility is subject to a
total net leverage covenant of 6.5x applicable when utilization
exceeds 35%. The company maintains a substantial cushion to the
covenant.

With net revenues of $277 million in the LTM ended September 30,
2022, Paya is an integrated payment solutions provider to mid-size
merchants in the United States.            

The principal methodology used in these ratings was Business and
Consumer Services published in November 2021.


PERFORMANCE POWERSPORTS: $10MM DIP Loan from Tankas Funding OK'd
----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Performance Powersports Group Investor, LLC and affiliates to,
among other things, obtain senior and junior secured superpriority
postpetition financing from Tankas Funding VI, LLC, on an interim
basis.

The DIP Lender agreed to make junior lien superpriority
debtor-in-possession term loans in an aggregate principal amount
not to exceed $10 million in "new money" loans to the DIP Borrower,
which DIP Loans will be made available in two separate borrowings:

     (1) $3.5 million under the DIP Credit Facility to be drawn
following entry in the Bankruptcy Cases of the Interim DIP Order
approving the DIP Credit Facility on the Closing Date; and

     (2) the remainder of the DIP Credit Facility to be drawn
following entry of a Final DIP Order upon the Final Closing Date;

provided, the DIP Borrower may elect to draw a portion (not to
exceed $4.8 million) of such Final DIP Loan on one additional
business day after the Final Closing Date that is specified by  the
DIP Borrower.

To facilitate a thorough marketing and sale process and
consequently, the Debtors' ability to continue as a going concern,
Kinderhook, via its affiliate, Tankas, has agreed to provide the
DIP Facility that will address the Debtors' immediate need for
liquidity and prevent the liquidation that would otherwise occur
absent the financing.

As previously reported by the Troubled Company Reporter, the
Debtors are required to achieve these milestones:

     (i) the Interim DIP Order will be entered in the Bankruptcy
Cases by no later than 5 calendar days of the date of commencement
of the Bankruptcy Cases;

    (ii) a final order authorizing the borrowings under the DIP
Credit Facility on terms acceptable to the DIP Lender will be
entered in the Bankruptcy Cases within 30 calendar days of the
Petition Date;

   (iii) the Debtors will file a motion requesting an order from
the Bankruptcy Court approving bid procedures relating to the
solicitation of qualified bids for the sale of substantially all of
the Debtors' assets and businesses, which motion will be in form
and substance satisfactory to the DIP Lender, within two calendar
days of the Petition Date, and the Bankruptcy Court will have
entered an order approving the Bidding Procedures within 30
calendar days after the Petition Date; and

    (iv) within 60 calendar days after the Petition Date, subject
to extension solely on account of the availability of the
Bankruptcy Court, the hearing to consider the approval of the sale
transaction will have occurred and the Bankruptcy Court will have
approved the transaction contemplated by the Bidding Procedures.

The DIP Credit Facility will be repaid in full in cash on the
earliest of these dates:

     (i) March 31, 2023;

    (ii) the consummation of any sale of all or substantially all
of the assets of the Debtors;

   (iii) 30 days after the Petition Date if the Final DIP Order has
not been entered;

    (iv) the acceleration of the DIP Credit Facility;

     (v) the effective date of any plan of reorganization;

    (vi) the filing of an Unapproved Plan;

   (vii) the failure of DIP Borrower or any Guarantor timely to
satisfy any Milestone; and

  (viii) with respect to Events of Default, two business days after
receipt by the DIP Borrower of a written notice from the DIP Lender
of the occurrence of any such Event of Default.

As adequate protection, the Prepetition Lenders will receive, in
each case subject to the Carve Out:

      (i) current payment of all reasonable and documented
out-of-pocket fees, costs and expenses of the Prepetition Agent;

     (ii) replacement liens on the collateral securing the
Prepetition Credit Agreement;

    (iii) superpriority administrative expense claims with respect
to the foregoing and to the extent of any post-petition diminution
in value of the Prepetition Lenders' interest in the collateral
securing the Prepetition Credit Agreement; and

    (iv) access to the Debtors' books and records and such
financial reports as are provided to the DIP Lender.

A final hearing on the matter is set for February 13, 2023 at 2
p.m.

A copy of the order is available at https://bit.ly/3QZMY4S from
PacerMonitor.com.

     About Performance Powersports Group Investor, LLC

Performance Powersports Group Investor, LLC and affiliates are in
the business of adventure, selling dirt bikes, go-karts, ATVs, golf
carts, and the like to retailers throughout the US.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 23-10047) on January 16,
2023. In the petition signed by Ken Vanden Berg, chief financial
officer, the Debtor disclosed up to $500 million in both assets and
liabilities.

Judge Laurie Selber Silverstein oversees the case.

Domenic E. Pacitti, Esq., at Klehr Harrison Harvey Branzburg LLP,
represents the Debtor as legal counsel.

Tankas Funding VI, LLC, as DIP lender, is represented by Kirkland &
Ellis LLP.



PIPELINE HEALTH: Court Confirms Reorganization Plan
---------------------------------------------------
Judge Marvin Isgur has entered an order approving and confirming
the Second Amended Joint Chapter 11 Plan of Reorganization of
Pipeline Health System, LLC, et al.

All objections to confirmation not filed and served prior to the
deadline for filing objections, if any, are deemed waived and shall
not be considered by the Bankruptcy Court.

With respect to the classes of claims and interests:

   * Holders of Claims in Class 1 (Other Secured Claims) and Class
2 (Other Priority Claims) are unimpaired and conclusively presumed
to have accepted the Plan.  

   * The Debtors were not required to solicit votes from the
holders of Claims and Interests in Class 9 (Existing Parent
Interests) and Class 10 (Section 510(b) Claims), which were
impaired and deemed to reject the Plan under the Bankruptcy Code.


   * The Debtors waived their right to solicit votes from holders
of Claims in Class 6 (General Unsecured Claims).  

   * Holders of Claims and Interests in Class 7 (Intercompany
Claims) and Class 8 (Intercompany Interests) (the "Deemed
Accepting/Rejecting Classes" and, together with Class 6, the
Unimpaired Classes and the Deemed Rejecting Classes, the
"Non-Voting Classes") are unimpaired and conclusively presumed to
have accepted the Plan (to the extent reinstated) or are impaired
and deemed to reject the Plan (to the extent cancelled), and, in
either event, are not entitled to vote to accept or reject the
Plan.

   * Holders of claims in Class 3 (ABL CLaims) and Class 4 (Term
Loan Claims) were entitled to vote to accept or reject the Plan,
and voted in favor of the Plan.

The Plan has been proposed in good faith, is reasonable and meets
the requirements that (a) no holder of any Claim or Interest that
is junior to each such Class will receive or retain any property
under the Plan on account of such junior Claim or Interest and (b)
no holder of a Claim in a Class senior to such Class is receiving
more than 100% on account of its Claim.

                      Plan of Reorganization

Matthew D. Cavenaugh of JACKSON WALKER LLP signed the memorandum of
law in support of confirmation of the Debtors' Plan.

At the commencement of these chapter 11 cases, the Court recognized
that "[t]his is not just a normal case where we do everything we
can to try to save a debtor and save jobs.  Here, we’re trying to
save a debtor, save jobs, and continue to provide essential medical
care in underprivileged communities."  Less than fifteen weeks
later, the Debtors are poised to do just that. Confirmation of the
Plan will not only preserve hundreds of jobs, but it will allow the
Debtors' remaining five hospitals to continue operations with a
significantly strengthened balance sheet.  The value of the
hospitals to the relevant communities, particularly the
underinsured and indigent populations, is immense -- the Plan
preserves that value and should be confirmed.

The Debtors filed the chapter 11 cases with $40 million in
new-money DIP financing and the support of the Term Loan Lenders on
a dual-path Plan that contemplated substantially de-levering the
business through equitization of a portion of the Debtors' secured
debt while also exploring potential sale transactions.  That Plan
support was contingent on resolving a host of issues in a limited
time frame. From the very first day of these cases, the Debtors and
their advisors have worked tirelessly to resolve these issues,
forge consensus among their key stakeholders, and drive resolutions
that ultimately formed the backbone of the Plan.

Specifically:

    * New Business Plan: The Debtors formulated a new business plan
inside of chapter 11 that (i) demonstrates the Plan is feasible and
(ii) is acceptable to the DIP Lenders and Term Loan Lenders, in
turn, cementing their agreement to equitize certain of their
secured claims.

    * Chicago Sale: Despite multiple delays in closing the sale of
the Chicago hospitals prepetition, following Court approval of the
two-part Chicago sale, the Debtors closed the OpCo portion of the
sale on Dec. 2, 2022 and, the PropCo portion of the sale, on Dec.
29, 2022.  Closing the Chicago sale allowed the two Chicago
hospitals to remain open under new ownership, substantially
improved the Debtors' liquidity forecasts, and provided an
immediate cash infusion of approximately $14 million.

    * New Exit Facility: The ABL Lenders have agreed to
consensually impair their prepetition secured claims and commit new
funds to the Debtors in the form of the Exit Facility, providing
critical liquidity for the go-forward business.

    * Takeback Facility: The DIP Lenders have agreed to roll a
portion of their DIP Claims into the Takeback Facility instead of
being paid in cash, preserving necessary liquidity for the
reorganized business.

    * Equitization: The Term Loan Lenders and DIP Lenders have
agreed to equitize certain of their Claims as part of the
deleveraging of the Debtors' prepetition capital structure.

    * Creditors' Committee: The Committee worked in good faith with
the Debtors to negotiate for General Unsecured Creditors, resulting
in enhanced cure payments and a preference waiver.  The Committee
filed a statement in support of Confirmation.

    * Landlord Support: The Debtors negotiated amendments to their
respective lease agreements with the landlords, providing
meaningful liquidity to the Debtors and supporting the Debtors’
go-forward operations.

    * Trade Counterparties: The Debtors have agreed to consensual
amendments to contractual arrangements and settled numerous cure
issues with dozens of key vendors, boosting the Debtors' go-forward
liquidity and ensuring operational continuity with the Debtors’
key trade partners.

    * Government Payors: Certain of the Debtors' government payors
have negotiated payment plans with the Debtors with respect to
prepetition obligations under government reimbursement programs.
Such payment plans will enhance the Debtors' liquidity while
allowing them to continue participating in these federal and state
reimbursement programs.

    * IT Support: The Debtors' prepetition service provider of
electronic medical records has agreed to certain pricing and usage
terms to allow the Debtors to transition to a new EMR service
provider right-sized for the Debtors' go˗forward operations.

Concessions provided by other stakeholders in the form of
deferrals, voluntary repayment plans, and release of deposits will
also provide critical liquidity for the Debtors upon emergence from
chapter 11.  In short, the Plan provides the framework for the
Debtors to emerge from chapter 11 as a stronger, better-capitalized
enterprise.

As the Plan is the culmination of months-long negotiations with key
stakeholders across the Debtors' capital structure it has
unsurprisingly been accepted by each Voting Class.  Indeed, Classes
3 and 4 have unanimously voted to accept the Plan. Although the
Plan provides no recovery to Class 6 General Unsecured Creditors,
following negotiations with the Committee, the Debtors have also
committed to providing a broad waiver of preference actions and to
increase the budget with respect to the aggregate amount available
to satisfy Claims arising under Bankruptcy Code Section 503(b)(9)
and Cure Claims to an aggregate amount of $12.25 million.

The Plan represents extraordinary consensus between the Debtors and
the constituents of the Debtors' prepetition capital
structure—the only remaining open items are a limited number of
cure objections that do not implicate Confirmation of the Plan
itself.  As a consequence of the tireless efforts of the Debtors
and their stakeholders, as well as assistance and guidance from the
Court, the Debtors are now positioned to move forward with
confirmation of the Plan on substantially, if not fully, consensual
basis.

A copy of the Plan Confirmation Order dated Jan. 13, 2023, is
available at https://bit.ly/3H7SajE from PacerMonitor.com.

Co-Counsel to the Debtors:

     Matthew D. Cavenaugh, Esq.
     Kristhy M. Peguero, Esq.
     Veronica A. Polnick, Esq.
     Javier Gonzalez, Esq.
     JACKSON WALKER LLP
     1401 McKinney Street, Suite 1900
     Houston, TX 77010
     Telephone: (713) 752-4200
     Facsimile: (713) 752-4221
     E-mail: mcavenaugh@jw.com
             kpeguero@jw.com
             vpolnick@jw.com
             jgonzalez@jw.com

          - and -

     Steven N. Serajeddini, P.C., Esq.
     Zachary R. Manning, Esq.
     KIRKLAND & ELLIS LLP
     KIRKLAND & ELLIS INTERNATIONAL LLP
     601 Lexington Avenue
     New York, NY 10022
     Telephone: (212) 446-4800
     Facsimile: (212) 446-4900
     E-mail: steven.serajeddini@kirkland.com
             zach.manning@kirkland.com

          - and -

     Jaimie Fedell, Esq.
     KIRKLAND & ELLIS LLP
     KIRKLAND & ELLIS INTERNATIONAL LLP
     300 North LaSalle Street
     Chicago, IL 60654
     Telephone: (312) 862-2000
     Facsimile: (312) 862-2200
     Email: jaimie.fedell@kirkland.com

                  About Pipeline Health System

Pipeline Health Systems, LLC is an independent, community-focused
healthcare network that offers a wide range of medical services to
the communities it serves, including maternity care, cancer
treatment, behavioral health, rehabilitation, general surgery, and
hospice care. Headquartered in El Segundo, California, Pipeline's
operations include seven safety net hospitals across California,
Texas, and Illinois, with approximately 310 physicians and over
1,150 beds to serve patients, and a company-wide workforce of over
4,200.

Pipeline Health Systems and its affiliates sought Chapter 11
protection (S.D. Texas Lead Case No. 22-90291) on Oct. 2, 2022. In
the petition signed by Andrei Soran, authorized signatory, Pipeline
Health Systems disclosed $500 million to $1 billion in assets and
liabilities.

Judge Marvin Isgur oversees the cases.

The Debtors tapped Kirkland & Ellis, LLP as general bankruptcy
counsel; Jackson Walker, LLP as local bankruptcy counsel; Ankura
Consulting Group, LLC as restructuring advisor; and Jefferies, LLC,
as financial advisor and investment banker. Epiq Corporate
Restructuring, LLC, is the claims agent.

The U.S. Trustee for Region 7 appointed an official committee of
unsecured creditors in the Debtors' bankruptcy cases. The committee
tapped Akin Gump Strauss Hauer & Feld, LLP as legal counsel and FTI
Consulting, Inc. as financial advisor.

Susan Nielsen Goodman, the patient care ombudsman appointed in the
Debtors' cases, is represented by Crowe & Dunlevy, P.C.


PLATINUM MOVING: Bid to Use Cash Collateral Denied, Case Dismissed
------------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Maryland, Greenbelt,
Division, denied the Amended Emergency Motion for an Order
Approving Interim and Final Use of Cash Collateral and Granting
Adequate Protection and Other Relief filed by Platinum Moving
Services, Inc.

At the Debtor's behest, the Court dismissed the Chapter 11 case.

As previously reported by the Troubled Company Reporter, the Debtor
said it urgently needs access to cash to pay operating expenses.
Currently there are four shipments pending scheduled to arrive in
the next few days. The Debtor must pay the shippers upon arrival or
they will not release the shipment to the customers, resulting in
the inability of the Debtor's customers to obtain their property.
In addition, not paying the shippers will subject the Debtor to
potential complaints with the Federal Maritime Commission which
could result in the Debtor losing its license as an oceanborne
shipper. The Debtor also has to pay its office rent, storage fees,
insurance and other operating expenses. If the Debtor does not pay
its storage fees, its inventory could be at risk as it could be
thrown out on the street by the vendor.

On January 18, 2023, the Court held a hearing where it advised that
it would deny the Debtor's emergency motion to use cash collateral
by January 20 unless it entered into a consent cash collateral
order with M&T Bank and Simply Funding, LLC.  The Debtor's
operations have come to a halt and has customer deposits comingled
with cash collateral that need to be immediately paid to vendors to
release third party property, resulting in liability with the
Federal Maritime Commission, and consequently, postpetition claims,
which is not in the best interests of the creditors and the estate.
In seeking dismissal, the Debtor said there exists good cause to
immediately dismiss this case, or risk irreparable damage to the
estate.

The United States Trustee and Simply Funding, LLC have consented to
dismissal of this case.  M&T Bank and the Subchapter V Trustee also
have consented to dismissal. The Subchapter V Trustee indicated
that she waived all any right to compensation.

A copy of the order denying cash collateral access is available at
https://bit.ly/3wn5r1y from PacerMonitor.com.

              About Platinum Moving Services, Inc.

Platinum Moving Services, Inc. is in the business of providing
moving services to individuals via land and sea.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Md. Case No. 22-17189) on December 27,
2022. In the petition signed by Raquel Fazio, owner, the Debtor
disclosed up to $500,000 in assets and up to $1 million in
liabilities.

Judge Lori S. Simpson oversees the case.

Diana C. Valle, Esq., at The Valle Law Firm, LLC, is the Debtor's
legal counsel.



PSAV INC: KKR Fund Marks $4.4M Loan at 20% Off
----------------------------------------------
KKR Income Opportunities Fund has marked its $4,448,850 loan
extended to PSAV Inc to market at $3,536,836 or 80% of the
outstanding amount, as of October 31, 2022, according to a
disclosure contained in the KKR Fund's Form N-CSR for the fiscal
year ended October 31, 2022, filed with the Securities and Exchange
Commission on January 6, 2023.

KKR IOF is a participant in a second lien term loan to PSAV Inc.
The loan accrues interest at a rate of 10.06% (LIBOR (3M) + 7.25%)
per annum and matures on September 1, 2025.

KKR IOF was organized on March 17, 2011 as a statutory trust under
the laws of the State of Delaware. The Fund is a closed-end
registered management investment company, which commenced
operations on July 25, 2013. KKR Credit Advisors (US) LLC serves as
the Fund's investment adviser.

PSAV, Inc. provides audiovisual and event technology support
services. The Company offers lighting, bandwidth calculations,
designing, video conferencing, virtual events, mapping, rigging,
power distribution, internet, and networking services. PSAV
conducts its business worldwide.


RUBY PIPELINE: Court Confirms Tallgrass Sale Plan
-------------------------------------------------
Judge Craig T. Goldblatt has entered an order approving on a final
basis the Disclosure Statement and confirming the Third Amended
Chapter 11 Plan of Ruby Pipeline, L.L.C.

Ruby Pipeline LLC, co-owned by Kinder Morgan Inc. and Pembina
Pipeline Corp., filed for Chapter 11 in March 2022 to address its
high debt load.

As reported in the TCR, the Debtor's Chapter 11 Plan is built
around a $282 million sale of its assets to Tallgrass Energy
LP.  Tallgrass, a Blackstone Group company, will acquire a
680-mile pipeline that is used to transport natural gas from the Ro
ky Mountains to Northern California and the Pacific Northwest.

Ruby Pipeline will use cash from that sale, as well as a $135
million contribution from its equity owners Kinder Morgan Inc and
Pembina Pipeline Corp and $162.8 million in its existing cash
accounts, to repay creditors and wind down its business.

According to the Plan Confirmation Order, the Settlement Agreement
As Between Kinder Morgan, Inc. et al. and Pembina Pipeline
Corporation et al., dated Nov. 18, 2022, shall be deemed to have
terminated in its entirety immediately prior to the Debtor's
receipt of 100% of the Settlement Payment (as defined in the
Sponsor Settlement Agreement).  By not objecting to the Plan, the
Sponsors are deemed to have submitted to the jurisdiction of this
Court in respect of, to have stipulated to, and to have waived any
objection to this Court's exercise of jurisdiction in respect of,
in each case, such termination of such settlement agreement.

Pursuant to sections 1123, 1141(b) and 1141(c) of the Bankruptcy
Code,  the issuance of the Reorganized Equity to the Buyer in
accordance with the terms of the Plan and the Sale Transaction
Documents, including the Investment Agreement, and all transactions
contemplated thereby, including the Sale Transaction, and all of
the terms and conditions thereof, are approved in their entirety.

The Plan is the result of extensive, good faith, arm's-length
negotiations among the Debtor and its principal constituencies,
including, without limitation, the ad hoc group of holders of the
2022 Unsecured Notes (the "Ad Hoc Group"), the Official Committee
of Unsecured Creditors (the "Creditors' Committee"), the Indenture
Trustee, and the Debtor's equity sponsors, Kinder Morgan, Inc.
("KMI") and Pembina Pipeline Corporation ("Pembina," and together
with KMI and their respective Related Parties (other than the
Debtor), the "Sponsors").

According to the Third Amended Chapter 11 Plan, holders of Class 3
General Unsecured Claims will receive a Distribution of Cash equal
to the allowed amount of its General Unsecured Claim or subject to
the consent of the Buyer, Reinstatement of its Allowed General
Unsecured Claim against the Reorganized Debtor. Class 3 is
unimpaired.

Attorneys for the Debtors:

     Ray C. Schrock, Esq.
     Sunny Singh, Esq.
     WEIL, GOTSHAL & MANGES LLP
     767 Fifth Avenue
     New York, NY 10153
     Telephone: (212) 310-8000
     Facsimile: (212) 310-8007

          - and -

     Kevin Gross, Esq.
     Daniel J. DeFranceschi, Esq.
     John H. Knight, Esq.
     RICHARDS, LAYTON & FINGER, P.A.
     One Rodney Square
     920 N. King Street
     Wilmington, DE 19801
     Telephone: (302) 651-7700
     Facsimile: (302) 651-7701

A copy of the Order dated Jan. 13, 2023, is available at
https://bit.ly/3IMAewh from PacerMonitor.com.

A copy of the Plan dated Jan. 13, 2023, is available at
https://bit.ly/3XzWm16 from PacerMonitor.com.

                     About Ruby Pipeline

Ruby Pipeline, LLC, a Houston-based natural gas pipeline company,
sought Chapter 11 bankruptcy protection (Bankr. D. Del. Case No.
22-10278) on March 31, 2022.  In the petition filed by Will W.
Brown, as commercial vice-president, Ruby Pipeline listed $500
million to $1 billion in both assets and liabilities.   

Judge Craig T. Goldblatt oversees the case.

Richards, Layton & Finger, P.A., and Weil Gotshal & Manges, LLP are
the Debtor's bankruptcy counsels while PJT Partners, LP, is the
investment banker.  Kroll Restructuring Administration, LLC,
formerly known as Prime Clerk, LLC, is the claims and noticing
agent and administrative advisor.  

Counsel to the Ad Hoc Group and Special Counsel to the Indenture
Trustee are Morris, Nichols, Arsht & Tunnell LLP, and Davis Polk &
Wardwell LLP.

The U.S. Trustee for Region 3 appointed an official committee of
unsecured creditors on April 19, 2022. Brown Rudnick, LLP and
Benesch, Friedlander, Coplan & Aronoff LLP serve as the committee's
bankruptcy counsel and Delaware counsel, respectively.


RUTGERS CASUALTY: A.M. Best Affirms bb+ ICR, Outlook Stable
-----------------------------------------------------------
AM Best has revised the outlooks to stable from positive and
affirmed the Financial Strength Rating of B (Fair) and the
Long-Term Issuer Credit Rating of "bb+" (Fair) for Rutgers Casualty
Insurance Company and American European Insurance Company, which
operate an intercompany reinsurance pooling agreement, and are
collectively known as AEIG or the group. Both companies are
headquartered in Cherry Hill, NJ.

These Credit Ratings (ratings) reflect AEIG's balance sheet
strength, which AM Best assesses as adequate, as well as its
marginal operating performance, limited business profile and
appropriate enterprise risk management.

The revision in outlook to stable considers asset concentration
within the investment portfolio and significant unrealized losses
in 2022.


SCION INTERNATIONAL: KKR Fund Marks $1.7M Loan at 31% Off
---------------------------------------------------------
KKR Income Opportunities Fund has marked its $1,733,778 loan
extended to Scion International, Inc to market at $1,198,474 or 69%
of the outstanding amount, as of October 31, 2022, according to a
disclosure contained in the KKR Fund's Form N-CSR for the fiscal
year ended October 31, 2022, filed with the Securities and Exchange
Commission on January 6, 2023.

KKR IOF is a participant in a first lien term loan B to Scion
International, Inc. The loan accrues interest at a rate of 9%
(LIBOR (1M) + 5.25%) per annum.  The loan matures on December 23,
2028.

KKR IOF was organized on March 17, 2011 as a statutory trust under
the laws of the State of Delaware. The Fund is a closed-end
registered management investment company, which commenced
operations on July 25, 2013. KKR Credit Advisors (US) LLC serves as
the Fund's investment adviser.

Scion International, Inc. operates as a medical equipment
distributor.



SUPERIOR REAL ESTATE: Taps Keech Law Firm as Bankruptcy Counsel
---------------------------------------------------------------
Superior Real Estate Solutions, LLC seeks approval from the U.S.
Bankruptcy Court for the Eastern District of Arkansas to employ
Keech Law Firm, PA to handle its Chapter 11 case.

The firm's hourly rates are as follows:

     Kevin P. Keech   $400 per hour
     Paralegals       $150 per hour

In addition, the firm will seek reimbursement for out-of-pocket
expenses incurred.

The firm received from the Debtor an advance payment of $5,000.

Kevin Keech, Esq., at Keech Law Firm, disclosed in a court filing
that he and his firm neither hold nor represent an interest adverse
to the Debtor and its bankruptcy estate.

The firm can be reached through:

     Kevin P. Keech, Esq.
     Keech Law Firm, PA
     2011 S. Broadway St.
     Little Rock, AR 72206
     Tel: (501) 221-3200
     Fax: (501) 221-3201
     Email: kkeech@keechlawfirm.com

               About Superior Real Estate Solutions

Superior Real Estate Solutions LLC owns and manages residential and
commercial real estate. The company is based in Vilonia, Ark.

Superior Real Estate Solutions filed a petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. E.D. Ark. Case No.
22-13494) on Dec. 15, 2022.  In the petition filed by Alvin Franks
Jr. as authorized signatory, the Debtor reported $1 million to $10
million in both assets and liabilities.

Judge Bianca M. Rucker oversees the case.

The Debtor is represented by Kevin P. Keech, Esq., at Keech Law
Firm, PA.


SURGERY CENTER: Moody's Confirms B3 CFR & Alters Outlook to Pos.
----------------------------------------------------------------
Moody's Investors Service confirmed Surgery Center Holdings, Inc.'s
(Surgery Partners) B3 Corporate Family Rating, B3-PD Probability of
Default Rating, B1 ratings on the Senior Secured Bank Credit
Facility, and Caa2 ratings on the Senior Unsecured notes. Moody's
also revised the outlook to positive from ratings under review. The
Speculative Grade Liquidity Rating remains unchanged at SGL-1. The
rating actions conclude the review of Surgery Center's rating that
was initiated on November 22, 2022.

The confirmation of the ratings reflects Moody's view that Surgery
Partners has demonstrated solid operating performance despite labor
and inflationary pressures that have been a headwind in 2022. The
recent debt repayment is credit positive as it will result in
approximately $40 million of annual cash interest savings. The
transaction, in which Surgery partners issued $658 million of
equity, and raised $225 million in private placement, added roughly
$120 million of cash to the balance sheet. Surgery Partners also
upsized its revolving credit facility to $553.75 million from $350
million, providing additional liquidity to support the company's
larger size and future acquisitions. The debt repayment has reduced
the company's leverage from 8.3x to 6.7x pro forma LTM September
30, 2022. That said, leverage will remain elevated above 6.0x
through the end of 2023. Moody's anticipates labor and inflationary
pressures will remain in 2023 but will soften.

The outlook is positive. Moody's expects Surgery Partners' very
good liquidity to support its future growth prospects while the
company maintains a more conservative capital structure. Moody's
forecasts Surgery Partners will be able to de-lever to 6.0x by the
end of 2023 given anticipated growth from existing and new
businesses as well as free cash flow improvement as interest
expense has declined after the debt repayment, labor pressures
soften and payments for Medicare Advance do not recur.

Governance risk considerations are a factor in this rating action
as the issuance of equity to repay debt is considered a positive
governance factor. Additionally, Surgery Partners is committed to
less aggressive financial policies with a public target leverage
below 3.5x and at least $200 million of free cash flow by 2025.

Confirmations:

Issuer: Surgery Center Holdings, Inc.

Corporate Family Rating, Confirmed at B3

Probability of Default Rating, Confirmed at B3-PD

Senior Secured 1st Lien Term Loan, Confirmed at B1 to (LGD3) from
(LGD2)

Senior Secured 1st Lien Revolving Credit Facility, Confirmed at B1
to (LGD3) from (LGD2)

Senior Unsecured Notes, Confirmed at Caa2 (LGD5)

Outlook Actions:

Issuer: Surgery Center Holdings, Inc.

Outlook, Changed To Positive From Rating Under Review

RATINGS RATIONALE

Surgery Partners' B3 Corporate Family Rating reflects the company's
elevated leverage due mainly to the company's aggressive growth
strategy and labor and inflationary pressures impacting the
industry. Moody's estimates LTM September 30, 2022 leverage to be
8.3x, declining to 6.7x pro forma for the debt repayment. Moody's
forecasts that leverage will decline to under 6.0x over the next
12-18 months driven by organic growth and acquisitions. Moody's
anticipates labor and inflationary pressures will remain in 2023,
but will soften, and as a result will slow down the pace of
deleveraging. The rating is also constrained by the elective nature
of many of the procedures performed in Surgery Partners' ambulatory
surgery centers (ASCs), meaning that patients can delay/forego
treatment in times of economic weakness. Further, the risks
stemming from exposure to government payers could lead to future
reimbursement pressures.

Surgery Partners benefits from its strong market position and
favorable industry fundamentals, as payers including Medicare and
private insurers, continue to drive patients out of hospitals and
into less costly points of care, like ASCs. Growth opportunities
arise from the company's good case mix that favors procedures with
higher reimbursements, and continued investments to enhance its
cardiology and musculoskeletal capabilities. Surgery Partners will
continue to make investments to enhance cardiology and
musculoskeletal capabilities in its facilities through recruitment
of specialists and technological investments (i.e., robotics) which
will add to growth over the coming years.

The senior secured first lien bank credit facilities are rated B1
(LGD3), two notches above the Corporate Family Rating. The rating
reflects the instruments' priority claim on the assets and the
considerable amount of junior debt below the senior secured
borrowings that would provide first loss absorption. The senior
unsecured notes are rated Caa2 (LGD5), which reflects their junior
position to the first lien debt in the capital structure.

The Speculative Grade Liquidity Rating of SGL-1 reflects Moody's
expectation of very good liquidity over the next 12-18 months.
Surgery Partners had about $155 million of cash as of September 30,
2022, and full availability under its $350 million senior secured
revolving credit facility less about $8 million in LCs. Surgery
Partners increased the size of its revolving credit facility to
$553.75 million to support the company's larger size. Moody's
anticipates positive free cash flow in 2023 following substantial
working capital constraints in 2022. Free cash flow will continue
to be constrained by high fixed costs including interest expense,
capital expenditures and minority interest dividends.

ESG considerations have a highly negative impact on Surgery
Partner's rating (CIS-4). This reflects Surgery Partners highly
negative credit exposure to social risk considerations (S-4) and
governance risk considerations (G-4). Exposure to social risk
considerations is highly negative driven by meaningful reliance on
government payors. As a healthcare services provider, responsible
production, which considers the company's potential liability
related to patient care, is a key risk consideration. In addition,
Surgery has a highly negative exposure to human capital, as the
company relies on highly specialized labor to provide its services.
Governance risk considerations are highly negative driven by an
aggressive financial strategy that includes debt funded
acquisitions. Further, even though the company is public, Bain
Capital has about a 55% ownership stake (prior to the equity
offering) in the company making it more at risk to partake in
shareholder friendly policies that can include debt funded
dividends.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

Factors that could lead to an upgrade include less aggressive
financial policies, reduction of debt/EBITDA to around 6.0x and an
improvement in free cash flow.

The ratings could be downgraded if leverage increases from current
levels either from operational issues or more aggressive financial
policies, or if liquidity materially weakens.

Surgery Partners Inc, headquartered in Brentwood, TN, is an
operator of 145 short stay surgical facilities in 32 states as of
September 30, 2022. The surgical facilities, which include 126 ASCs
and 19 surgical hospitals, primarily provide non-emergency surgical
procedures across many specialties. Surgery Partners also provides
ancillary services including physician practice services,
anesthesia services, and a specialty pharmacy. Prior to the equity
offering, Surgery Partners is 54.9% owned by Bain Capital Private
Equity, LP and listed on the NASDAQ. Revenue is approximately $2.4
billion LTM September 30, 2022.

The principal methodology used in these ratings was Business and
Consumer Services published in November 2021.


TALEN ENERGY: Gets More Time to Retain Control of Bankruptcy
------------------------------------------------------------
Talen Energy Supply, LLC and its affiliates received court approval
to remain in control of their bankruptcy cases until June 30.

The ruling by Judge Marvin Isgur of the U.S. Bankruptcy Court for
the Southern District of Texas allows the companies to consummate
their confirmed joint Chapter 11 plan without the threat of a
competing plan from creditors.

The companies obtained confirmation of the plan last month, which
converts $1.4 billion of debt to equity and contemplates raising up
to $1.9 billion in new equity financing.

The companies anticipate consummating the plan in the second
quarter of this year. Prior to their bankruptcy exit, the companies
will need to, among other things, obtain regulatory approval that
could take up to six months; conduct the rights offering
contemplated by the plan; secure adequate exit financing, and
implement all other restructuring transactions.

                        About Talen Energy

Allentown, Pennsylvania-based Talen Energy Corp., the parent
company of Talen Energy Supply, LLC, is an independent power
producer founded in 2015. Riverstone Holdings, LLC completed its
acquisition of the remaining 65% stake of TEC in 2016 for $5.2
billion.

TEC, through Talen Energy Supply, is one of the largest competitive
power generation and infrastructure companies in North America.
Through subsidiary Cumulus Growth, TEC is developing a large-scale
portfolio of renewable energy, battery storage, and digital
infrastructure assets across its expansive footprint. On the Web:
https://www.talenenergy.com/

TES owns or controls approximately 13,000 Megawatts of generating
capacity in wholesale U.S. power markets, principally in the
Mid-Atlantic, Texas and Montana. Woodlands, Texas-based Talen
Energy Supply runs 18 power generation facilities, eight of which
rely on natural gas to make electricity.

Talen Energy Supply and 71 affiliates sought Chapter 11 protection
(Bankr. S.D. Texas Lead Case No. 22-90054) on May 9, 2022,
disclosing $10 billion to $50 billion in both assets and
liabilities on a consolidated basis. The Hon. Marvin Isgur is the
case judge.

TEC and its Cumulus Growth subsidiary, and Talen Energy Supply's
LMBE subsidiaries are excluded from the in-court process.

Talen Energy Supply and its debtor affiliates retained Weil Gotshal
& Manges, LLP as legal counsel; Evercore Group, LLC as investment
banker; and Alvarez and Marsal North America, LLC as financial
advisor for their restructuring. Kroll Restructuring
Administration, LLC is the claims agent.

TEC is represented by Vinson & Elkins as legal counsel and PJT
Partners as financial advisor.

Cumulus Growth is represented by DH Capital as legal counsel and
Ardea Partners as investment banker.  

The consenting noteholders are represented by Kirkland & Ellis, LLP
and Rothschild & Co US, Inc.

On May 23, 2022, the Office of the U.S. Trustee for Region 7
appointed an official committee of unsecured creditors. The
committee tapped Milbank, LLP as legal counsel; FTI Consulting,
Inc. as financial advisor; and Moelis & Company, LLC as investment
banker.

On Dec. 15, 2022, the court confirmed the Debtors' joint Chapter 11
plan.


TOP LINE GRANITE: Court OKs Cash Collateral Access Thru March 9
---------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Massachusetts
authorized Top Line Granite Design Inc. to use cash collateral
under the same terms and conditions provided in prior court orders,
through March 9, 2023.

A hearing on the matter is set for March 9 at 11:30 a.m.

As previously reported by the Troubled Company Reporter, the Debtor
was permitted to use of cash collateral in the ordinary course of
its business to pay all reasonable expenses necessary to maintain
and continue usual business operations.

As adequate protection, lienholders were granted post-petition
replacement liens and security interests in property of the
Debtor's estate, to the extent of valid perfected security
interests as of the Petition Date not subject to avoidance, in an
amount equivalent to the amount of cash collateral expended by the
Debtor, of the same type, in the same nature and to the same extent
as the Lienholders had in such assets pre-petition to the extent
the Lienholders held validly perfected and unavoidable liens and
security interests as of the Petition Date.

The Post-petition Liens will only secure the amount of any
diminution in the value of the Lienholders' prepetition collateral
constituting cash collateral resulting from the Debtor's use
thereof in the operation of the Debtor's business in the
Post-petition Period.

The Post-petition Liens will have the same priority, validity, and
enforceability as the Lienholders' liens on their pre-petition
collateral.

As further adequate protection, to the extent funds are available,
the Debtor was authorized to make monthly adequate protection
payments to the Lienholders.

A copy of the order is available at https://bit.ly/3XP3wie from
PacerMonitor.com.

                About Top Line Granite Design Inc.

Top Line Granite Design Inc. is a manufacturer of cut stone and
stone products.  Top Line offers a selections of kitchen granite,
marble and quartz.

Top Line sought protection under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. D. Mass. Case No. 22-40216) on March 25, 2022. In the
petition signed by Edmilson Ramos, president, the Debtor disclosed
up to $10 million in assets and up to $50 million in liabilities.

Judge Christopher J. Panos oversees the case.

Alan L. Braunstein, Esq., at Riemer and Braunstein LLP is the
Debtor's counsel.



TRU GRIT FITNESS: U.S. Trustee Unable to Appoint Committee
----------------------------------------------------------
The U.S. Trustee for Region 17 disclosed in a court filing that no
official committee of unsecured creditors has been appointed in the
Chapter 11 case of Tru Grit Fitness, LLC.
  
                      About Tru Grit Fitness

Tru Grit Fitness, LLC is a Las Vegas-based company that offers
fitness equipment.

Tru Grit Fitness sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Nev. Case No. 22-14320) on Dec. 7, 2022.
In the petition signed by its chief executive officer, Brandon
Hearn, the Debtor disclosed $10 million to $50 million in assets
and $50 million to $100 million in liabilities.

Judge August B. Landis oversees the case.

The Debtor tapped Samuel A. Schwartz, Esq., at Schwartz Law, PLLC
as legal counsel and Armory Consulting Co. as restructuring
advisor. James Wong, principal at Armory, is the Debtor's chief
restructuring officer.


VANGUARD WINES: Cash Collateral Access, $100,000 DIP Loan OK'd
--------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Ohio,
Eastern Division, authorized Vanguard Wines, LLC to use cash
collateral and obtain postpetition financing, on an interim basis.

As previously reported by the Troubled Company Reporter, the Debtor
sought to obtain senior secured post-petition financing up to the
amount of $100,000 from RBR QL3 LLC. The proceeds of the DIP
Financing and the use of cash collateral will fund the Debtor's
operations for at least the next four and a half months of its
bankruptcy case while it evaluates its options to seek and obtain
plan confirmation allowing it to emerge from Chapter 11.

The DIP Lender is an assignee of Crossroads Financial Group, LLC, a
North Carolina limited liability company. The Debtor's obligations
arise out of its debt facility with Crossroads having a balance of
$983,290 as of August 22, 2022.

The U.S. Small Business Administration and Libertas Funding LLC are
also lien claimants.

The Debtor has proposed, and the DIP Lender has approved, the
budget for the period beginning on January 16, 2023, and continuing
through June 4, 2023 (the period, which may be extended with the
written consent of the DIP Lender, the "Approved Period"; provided
that for purposes of the Interim Order, the Approved Period will be
deemed to end on February 10 unless an agreed final order
authorizing the obtaining of the DIP Financing and the use of cash
collateral on terms and conditions acceptable to the DIP Lender is
entered by the Court on or before that date. In no event will the
DIP Financing exceed $100,000 during the Approved Period without
further order of the Court following notice and hearing.

As adequate protection, the DIP Lender is granted replacement liens
as security for any diminution in value of its security interest in
cash collateral, a superpriority administrative expense claim
pursuant to section 364(c)(1) of the Bankruptcy Code, and rights to
which it may be entitled under section 507(b) of the Bankruptcy
Code, subject in all respects to the Carve Out.

The Debtor's authorization to use cash collateral, and the DIP
Lender's consent to the same and obligation to extend the DIP
Financing, will immediately cease upon the earliest occurrence of
any of these Termination Events:

     a. The time as the Debtor makes any transfer or payment not
authorized by the Interim Order and not of a character or type of
expense contemplated in the Approved Budget to be incurred by the
Debtor during the case, unless the DIP Lender provides written
consent to such transfer or payment;

     b. The Debtor's case is converted to a case under chapter 7 of
the Bankruptcy Code, unless the conversion is consented to in
writing by the DIP Lender, or the duties of the SubV Trustee are
expanded to include those duties as provided under section
1183(b)(2);

     c. The entry of any order materially modifying, reversing,
revoking, staying, rescinding, vacating or amending this Interim
Order without the prior written consent of the DIP Lender;

     d. Any other person or party in interest is granted or is to
be granted an interest, adequate protection or assurance, whether
pursuant to sections 361, 362, 363, 364, or 365 of the Bankruptcy
Code, under applicable law, by voluntary act of the Debtor, or
otherwise, in any property in which the DIP Lender has an interest,
including the Collateral and/or Cash Collateral which interest is
senior to, or granted equal priority with, the interests of the DIP
Lender therein; or

     e. Upon five business days' written notice from the DIP Lender
to the Debtor, the SubV Trustee, the UST and the Junior Lienholders
in the event that the Debtor violates or breaches any of its other
covenants or obligations in the Interim Order.

Unless terminated earlier, the DIP Financing will mature upon the
earlier of confirmation of a plan of reorganization in the Case or
June 4, 2023, at which time the Debtor will pay to the DIP Lender
all amounts due thereunder, including all reasonable fees, costs
and expenses (including reasonable fees, costs and expenses of
counsel) required to be paid by the DIP Lender at maturity.

A final hearing on the matter is set for February 2 at 2 p.m.

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

                     About Vanguard Wines, LLC

Vanguard Wines, LLC sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ohio Case No. 22-51200) on October 10,
2022. In the petition signed by Eric Stewart, president, the Debtor
disclosed $1,408,580 in total assets and $5,063,797 in total
liabilities.

Vanguard Wines, LLC is an independently owned importer and
distributor of fine wines and spirits in Ohio, Kentucky and
Indiana. Vanguard operates primarily from its leased warehouse
facility in Columbus, Ohio, as well as smaller facilities in
Indianapolis, Indiana and Louisville, Kentucky.  On a company
widebasis, Vanguard has 26 employees as of the filing of its
chapter 11 case.

Judge Alan M. Koschik oversees the case.

Richard K. Stoval, Esq., at Allen Stovall Neuman & Ashton LLP, is
the Debtor's counsel.



VOYAGER DIGITAL: Slated to Seek Plan Confirmation on March 2
------------------------------------------------------------
Judge Michael E. Wiles has entered an order conditionally approving
the Disclosure Statement of Voyager Digital Holdings, Inc., et al.

The following dates are established (subject to modification as
necessary) with respect to the solicitation of votes to accept or
reject, and voting on, the Plan:

  * Jan. 25, 2023, as the deadline for distributing Solicitation
Packages, including Ballots, to Holders of Claims entitled to vote
to accept or reject the Plan;

  * Feb. 15, 2023, as the deadline by which the Debtors must file
the Plan Supplement; provided that the Debtors must file the
Schedule of Assumed Executory Contracts and Unexpired Leases and
the Schedule of Assumed and Assigned Executory Contracts and
Unexpired Leases by February 1, 2023 and the Schedule of Retained
Causes of Action and the Customer Onboarding Protocol by February
8, 2023;

  * Feb. 22, 2023, at 4:00 p.m. prevailing Eastern Time as the
deadline by which all Ballots must be properly executed, completed,
and delivered so that they are actually received by Stretto, Inc.
(the "Claims, Noticing, and Solicitation Agent").

The Debtors are authorized, but not directed or required, to cause
the Solicitation Packages to be distributed through the Claims,
Noticing, and Solicitation Agent by e-mail to those Holders of
Claims in Class 3 and by first-class U.S. mail to those Holders of
Claims in Class 4A, Class 4B, and Class 4C. The Debtors shall
provide a copy of the Plan, the Disclosure Statement, and this
Order (without exhibits) to Holders of Claims in Class 4A, Class
4B, and Class 4C in electronic format (CD-ROM or flash drive) and
to Holders of Claims in Class 3 via e-mail. The Ballots, the Cover
Letter, the letter from the Committee, the Solicitation and Voting
Procedures, and the Combined Hearing Notice shall be provided by
e-mail to Holders of Claims in Class 3 and in paper format to
Holders of Claims in Class 4A, Class 4B, and Class 4C. On or before
the Solicitation Deadline, the Debtors (through the Claims,
Noticing, and Solicitation Agent) shall provide complete
Solicitation Packages (other than Ballots) to the U.S. Trustee and
to all parties on the 2002 List as of the Voting Record Date.

On or before the Solicitation Deadline, the Claims, Noticing, and
Solicitation Agent shall also provide copies of the Disclosure
Statement and the Committee Letter (or a link to download such
materials, as applicable) by electronic mail to Holders of Claims
or Interests in Class 5 (Alameda Loan Facility Claims), Class 6
(Section 510(b) Claims), Class 9 (Existing Equity Holders), and
Holders of Claims that are subject to a pending objection by the
Debtors filed on or before the Solicitation Deadline.

The Debtors will not provide the Holders of Class 7 Intercompany
Claims or Class 8 Intercompany Interests with a Solicitation
Package or any other type of notice in connection with
solicitation.

The following dates are established (subject to modification as
needed) with respect to filing objections to the Plan and
confirming the Plan:

  * Feb. 1, 2023 as the deadline by which the Debtors must serve
each assumption notice to the applicable counterparty to Executory
Contracts and Unexpired Leases;

  * Feb. 22, 2023, at 4:00 p.m. prevailing Eastern Time as the
deadline by which objections to the proposed cure costs and
objections to the assumption and/or assignment of Executory
Contracts and Unexpired Leases must be filed with the Court and
served so as to be actually received by the appropriate notice
parties;

  * Feb. 22, 2023, at 4:00 p.m. prevailing Eastern Time as the
deadline by which objections to the Plan and Disclosure Statement
must be filed with the Court and served so as to be actually
received by the appropriate notice parties;

  * Feb. 28, 2023, at 4:00 p.m., prevailing Eastern Time, as the
date by which the report tabulating the voting on the Plan must be
filed with the Court;

  * Feb. 28, 2023, at 4:00 p.m. prevailing Eastern Time as the
deadline by which the Debtors shall file their brief in support of
the adequacy of the Disclosure Statement and Confirmation of the
Plan and deadline by which replies to objections to the Disclosure
Statement and Plan must be filed with the Court; and

  * March 2, 2023, or as soon thereafter as the Debtors may be
heard, as the date for the hearing at which the Court will consider
approval of the Disclosure Statement and Confirmation of the Plan.

                         Chapter 11 Plan

Voyager Digital Holdings, Inc., et al. submitted a Second Amended
Disclosure Statement relating to the Third Amended Joint Plan.

The Debtors filed these Chapter 11 Cases in response to a
short-term "run on the bank" caused by a downturn in the
cryptocurrency industry generally and the default of a significant
loan made to a third party. Since the Petition Date, the Debtors
have worked tirelessly to identify the most value-maximizing
transaction for their customers and other creditors on an expedited
timeline. Following a two-week competitive auction process, the
Debtors selected the bid submitted by West Realm Shires Inc. ("FTX
US," and along with its parent entity and affiliates, "FTX") as the
winning bid (the transaction contemplated thereby, the "FTX
Transaction"). Had it been effectuated, the FTX Transaction would
have provided for substantial in-kind recoveries to Holders of
Account Holder Claims, the transfer of substantially all of the
customer accounts on the Voyager platform to the FTX platform, and
the orderly wind down of the Debtors' estates. But after a series
of extraordinary events outlined in detail below, FTX, and with it
the FTX Transaction, collapsed. While the Debtors were shocked and
dismayed by FTX's cataclysmic collapse, the Debtors swiftly
reengaged in negotiations with numerous other potential
counterparties to evaluate potential third-party transactions that
would maximize value for the Debtors and their creditors. Following
good-faith, arm's length negotiations with several such alternative
transaction parties, the Debtors elected to accept the bid
submitted by BAM Trading Services Inc. ("Binance.US" or the
"Purchaser"). The Debtors value Binance.US's offer at approximately
$1.022 billion, comprising (i) the fair market value of
Cryptocurrency on the Voyager platform as of a date to be
determined, which as of December 19, 2022, is estimated to be
$1.002 billion plus (ii) additional consideration equal to $20
million of incremental value. Importantly, relative to all
currently available alternatives, the Binance.US bid can be
effectuated quickly, provides meaningfully greater recovery to
creditors, and allows the Debtors to facilitate an efficient
resolution of these chapter 11 cases, after which Binance.US's
market-leading, secured trading platform will enable customers to
trade and store cryptocurrency.

Under the Asset Purchase Agreement, Binance.US will accept
transfers of certain assets relating to the Debtors' cryptocurrency
custody and exchange business and will receive all or substantially
all Cryptocurrency on the Voyager platform to hold such assets
solely in a custodial capacity in trust and solely for the benefit
of Account Holders who each open an account on the Binance.US
Platform (subject to certain potential exceptions set forth in the
Asset Purchase Agreement with respect to Cryptocurrency withheld
for the purpose of satisfying the Debtors' obligations under the
Plan) (such Cryptocurrency transfers being referred to as "Acquired
Coins") in exchange for Purchaser's payment obligations set forth
in Sections 2.1 and 2.2 of the Asset Purchase Agreement and
Purchaser's commitment to distribute the Acquired Coins to Account
Holders and cash to Holders of Opco General Unsecured Claims
pursuant to Sections 6.12 and 6.14 of the Asset Purchase Agreement.
Additionally, Purchaser shall submit VGX for its standard listing
review process in an effort to allow VGX to be traded on the
Binance.US Platform. The Debtors will effectuate the transition of
Account Holders to the Binance.US Platform as described in Article
V.C.6 of this Disclosure Statement. It is currently anticipated
that all Account Holders and Holders of OpCo General Unsecured
Claims will transition to Binance.US subject to their successful
completion of Binance.US's "Know Your Customer" process and other
procedural and regulatory requirements. Further information
regarding how Account Holders and Holders of OpCo General Unsecured
Claims can open accounts on Binance.US are available on the
Binance.US Platform Terms of Use (which are available at:
https://www.binance.us/terms-of-use) and the Binance.US Privacy
Policy (available at: https://binance.us/privacy-policy), and will
also be provided to all Holders of such Claims in the Customer
Onboarding Protocol.

On the first day of these chapter 11 cases, the Debtors filed the
Joint Plan of Reorganization of Voyager Digital Holdings, Inc. and
Its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code
[Docket No. 17] (as amended and restated from time to time, the
"Standalone Plan"). The Standalone Plan contemplated a
restructuring that could be effectuated without a sale and served
as a floor for the Debtors' marketing process. To that end, the
Debtors, with the assistance of Moelis and their other advisors,
continued their prepetition marketing efforts during these Chapter
11 Cases to canvas the market and identify interest in a
transaction with a third-party investor (the "Marketing Process").
Shortly after commencing these chapter 11 cases, the Debtors filed
the Debtors' Motion Seeking Entry of an Order (I) Approving the
Bidding Procedures and Related Dates and Deadlines, (II) Scheduling
Hearings and Objection Deadlines with Respect to the Debtors' Sale,
Disclosure Statement, and Plan Confirmation, and (III) Granting
Related Relief [Docket No. 126] (the "Bidding Procedures Motion"),
which set a timeline for interested parties to submit bids for an
acquisition of the Debtors' assets and procedures for conducting an
auction if multiple bids were received. On August 5, 2022, the
Bankruptcy Court entered the Order (I) Approving the Bidding
Procedures and Related Dates and Deadlines, (II) Scheduling
Hearings and Objection Deadlines with Respect to the Debtors' Sale,
Disclosure Statement, and Plan Confirmation, and (III) Granting
Related Relief [Docket No. 248] (the procedures approved thereby,
the "Bidding Procedures") which, among others, established the Bid
Deadline (as defined in the Bidding Procedures) as September 6,
2022 at 12:00 p.m., prevailing Eastern Time and set the Auction (as
defined in the Bidding Procedures) for September 13, 2022 at 10:00
a.m., prevailing Eastern Time. Throughout the Marketing Process,
the Debtors evaluated Bids received from potential transaction
parties in comparison both to other Bids received and the
recoveries contemplated by the Stand-Alone Plan as it provided a
critical metric in the Debtors' determination of their path
forward.

On the Bid Deadline, the Debtors received a number of bids from
strategic investors and, accordingly commenced an auction on
September 13, 2022, for a sale of the Debtors' business. The
two-week Auction featured hard-fought, arms-length negotiations
with each participating bidder. At the conclusion of the Auction,
the Debtors, in an exercise of their business judgment and in
consultation with the Committee, determined that the final bid
submitted by FTX US represented the most value-maximizing
transaction available to the Debtors. Accordingly, on September 26,
2022, the Debtors announced FTX US as the winning bidder,12 and on
September 27, 2022, the Debtors and FTX US entered into an asset
purchase agreement memorializing the terms of the winning bid (as
may be amended from time to time in accordance with the terms
thereof, the "FTX Purchase Agreement"). On October 20, 2022, the
Court entered an order approving the Debtors' entry into the FTX
Purchase Agreement.13 On October 24, 2022, the Debtors filed
solicitation versions of their Disclosure Statement and Plan,14 and
began soliciting votes on the Plan.

As set forth in greater detail in Article VIII.N, the Debtors'
journey to consummation of the FTX Transaction was derailed over
the ensuing weeks. Following a series of extraordinary events, on
November 11, 2022, Sam Bankman-Fried resigned from his role as CEO
of the FTX enterprise, and FTX announced the chapter 11 filing of
approximately 130 of its affiliates. Immediately following
announcement of the FTX bankruptcy, the Debtors reengaged in
discussions with numerous potential transaction parties interested
in consummating a transaction with the Debtors. Following
good-faith, arm's-length negotiations with several potential
transaction parties regarding a variety of deal structures and
terms, the Debtors determined, in an exercise of their business
judgment and in consultation with the Committee, that the bid
submitted by Binance.US represented the highest or otherwise best
offer available to purchase the Debtors' business enterprise. On
December 18, 2022, the Debtors and the Purchaser entered into an
asset purchase agreement memorializing the terms of the Binance.US
bid (as may be amended from time to time in accordance with the
terms thereof, the "Asset Purchase Agreement").

The Debtors seek to effectuate the transactions contemplated by the
Asset Purchase Agreement (collectively, the "Sale Transaction")
pursuant to the Plan. The Plan, among other things:

   * contemplates payment in full of Administrative Claims, Secured
Tax Claims, Priority Tax Claims, and Other Priority Claims;

   * provides for the distribution of Cryptocurrency, Cash, and any
remaining assets at OpCo (including any recovery on account of the
3AC Claims, FTX Claims, or Alameda Claims) to Account Holders and
Holders of OpCo General Unsecured Claims, subject to the terms of
the Asset Purchase Agreement;

   * provides for distribution of Cash and other assets at HoldCo
to Holders of HoldCo General Unsecured Claims;

   * provides for distribution of Cash and other assets at TopCo to
Holders of TopCo General Unsecured Claims;

   * provides for the equitable subordination of the Alameda Loan
Facility Claims;

   * provides for any residual value at TopCo after payment in full
of TopCo General Unsecured Claims to be distributed to Holders of
Section 510(b) Claims, if any, and Holders of Existing Equity
Interests; and

   * designates a Wind-Down Entity Trustee to wind down the
Debtors' affairs in accordance with the Plan.

The Debtors believe that the Plan maximizes stakeholder recoveries
in the Chapter 11 Cases. In particular, the Sale Transaction with
Binance.US that the Plan contemplates represents, relative to all
currently available alternatives, meaningfully greater and faster
recovery to creditors. Accordingly, the Debtors urge all Holders of
Claims entitled to vote to accept the Plan by returning their
ballots so that Stretto actually receives such ballots by February
22, 2023 at 4:00 p.m. prevailing Eastern Time (the "Voting
Deadline"). Assuming the Plan receives the requisite acceptances,
the Debtors will seek the Bankruptcy Court's approval of the Plan
at a hearing on March 2, 2023 at 10:00 a.m. (prevailing Eastern
Time).

Under the Plan, Class 4A OpCo General Unsecured Claims total $14MM
will receive in exchange for such Allowed OpCo General Unsecured
Claim:

   (i) If the Sale Transaction is consummated by the Outside Date:

       a. its Pro Rata share of Distributable Cryptocurrency in
Cash;

       b. its Pro Rata share of Additional Bankruptcy
Distributions, in Cryptocurrency or Cash as provided in and subject
to the requirements of Section 6.12 and 6.14 of the Asset Purchase
Agreement;

       c. its Pro Rata share of Distributable OpCo Cash; and d. to
effectuate distributions from the Wind-Down Entity, its Pro Rata
share of the Wind-Down Entity Assets or Wind-Down Trust Units (if
applicable) on account of any recovery of Wind-Down Trust Assets
attributable to OpCo; provided that any distributions on account of
the Wind-Down Entity Assets or Wind-Down Trust Units (if
applicable) shall only be made following payment in full of, or
reserve for, Allowed Administrative Claims, Allowed Priority Tax
Claims, Allowed Secured Tax Claims, and Allowed Other Priority
Claims;

  (ii) If the Sale Transaction is not consummated by the Outside
Date or the Asset Purchase Agreement is terminated:

       a. its Pro Rata share of Distributable Cryptocurrency in
Cash;

       b. its Pro Rata share of Distributable OpCo Cash; and

       c. to effectuate distributions from the Wind-Down Entity,
its Pro Rata share of the Wind-Down Entity Assets or Wind-Down
Trust Units (if applicable) on account of any recovery of Wind-Down
Trust Assets (if applicable) attributable to OpCo; provided that
any distributions on account of the Wind-Down Entity Assets or
Wind-Down Trust Units (if applicable) shall only be made following
payment in full of, or reserve for, Allowed Administrative Claims,
Allowed Priority Tax Claims, Allowed Secured Tax Claims, and
Allowed Other Priority Claims.

Under Projected Sale Transaction Recovery, creditors will receive
51% of their claims. Under Projected Liquidation Transaction
Recovery, creditor will receive 45% of their claims. In a Chapter 7
liquidation scenario, creditors will receive 35% to 39% of their
claims.  Class 4A is impaired.

Class 4B HoldCo General Unsecured Claims total $8.3 million and
will receive in exchange for such Allowed HoldCo General Unsecured
Claim:

   (i) its Pro Rata share of Distributable HoldCo Cash; and

  (ii) to effectuate distributions from the Wind-Down Entity, its
Pro Rata share of the Wind-Down Entity Assets or WindDown Trust
Units (if applicable) on account of any recovery of Wind-Down Trust
Assets (if applicable) attributable to HoldCo; provided that any
distributions on account of the Wind-Down Entity Assets or
Wind-Down Trust Units (if applicable) shall only be made following
payment in full of, or reserve for, Allowed Administrative Claims,
Allowed Priority Tax Claims, Allowed Secured Tax Claims, and
Allowed Other Priority Claims.

Under the Projected Sale Transaction Recovery, creditors will
receive 6%of their claims.  Under the Projected Liquidation
Transaction Recovery, creditor will receive 6% of their claims.
Under a Chapter 7 liquidation, creditors will receive 0% of their
claims.  Class 4B is impaired.

Class 4C TopCo General Unsecured Claims total $3MM and will receive
in exchange for such Allowed TopCo General Unsecured Claim:

   (i) its Pro Rata share of Distributable TopCo Cash; and

  (ii) to effectuate distributions from the Wind-Down Entity, its
Pro Rata share of the Wind-Down Entity Assets or Wind-Down Trust
Units (if applicable) on account of any recovery of the Wind-Down
Trust Assets attributable to TopCo; provided that any distributions
on account of the Wind-Down Entity Assets or the Wind-Down Trust
Units (if applicable) shall only be made following payment in full
of, or reserve for, Allowed Administrative Claims, Allowed Priority
Tax Claims, Allowed Secured Tax Claims, and Allowed Other Priority
Claims.

Under Projected Sale Transaction Recovery, creditors will receive
64% of their claims.  Under Projected Liquidation Transaction
Recovery, creditor will receive 64% of their claims.  Under a
Liquidation Recovery, creditors will receive 65% of their claims.
Class 4C is impaired.

Distributions under the Plan shall be funded by (i) the proceeds of
Purchaser's payment obligations under Sections 2.1 and 2.2 of the
Asset Purchase Agreement, (ii) distributions of Acquired Coins
pursuant to Sections 6.12 and 6.14 of the Asset Purchase Agreement,
and (iii) the Wind-Down Entity or Wind-Down Trust (as applicable)
from the Wind-Down Entity Assets or Wind-Down Trust Assets (as
applicable); provided, however, that Allowed Professional Fee
Claims shall be paid from the Professional Fee Escrow Account in
the first instance. The Wind-Down Trust Entity Assets or Wind-Down
Trust Assets (as applicable) shall be used to pay the Wind-Down
Trust Entity Expenses (including the compensation of the Wind-Down
Trustee and any professionals retained by the WindDown Trust), and
to satisfy payment of Allowed Claims and Interests as set forth in
the Plan.

Counsel for the Debtor:

     Joshua A. Sussberg, Esq.
     Christopher Marcus, Esq.
     Christine A. Okike, Esq.
     Allyson B. Smith, Esq.
     KIRKLAND & ELLIS LLP
     KIRKLAND & ELLIS INTERNATIONAL LLP
     601 Lexington Avenue
     New York, NY 10022
     Telephone: (212) 446-4800
     Facsimile: (212) 446-4900

A copy of the Order dated Jan. 13, 2023, is available at
https://bit.ly/3ZIt9D8 from PacerMonitor.com.

A copy of the Disclosure Statement dated Jan. 13, 2023, is
available at https://bit.ly/3GMoiYz from PacerMonitor.com.

                 About Voyager Digital Holdings

Based in Toronto, Canada, Voyager Digital Holdings Inc. --
https://www.investvoyager.com/ -- runs a cryptocurrency platform.
Voyager claims to offer a secure way to trade over 100 different
crypto assets using its easy-to-use mobile application.  Through
its subsidiary Coinify ApS, Voyager provides crypto payment
solutions for both consumers and merchants around the globe.

Voyager Digital Holdings Inc. and two affiliates sought protection
under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead
Case No. 22-10943) on July 5, 2022.  In the petition filed by
Stephen Ehrlich, chief executive officer, the Debtors estimated
assets and liabilities between $1 billion and $10 billion.

Michael E. Wiles oversees the cases.

The Debtors tapped Kirkland & Ellis, LLP, as general bankruptcy
counsel; Berkeley Research Group, LLC, as financial advisor; Moelis
& Company as investment banker; Consello Group as strategic
financial advisor; Deloitte Tax, LLP as tax services provider; and
Deloitte & Touche, LLP as accounting advisor. Stretto, Inc., is the
claims agent.

On July 19, 2022, the U.S. Trustee for Region 2 appointed an
official committee of unsecured creditors in these Chapter 11
cases. The committee tapped McDermott Will & Emery, LLP as
bankruptcy counsel; FTI Consulting, Inc. as financial advisor;
Cassels Brock & Blackwell, LLP as Canadian counsel; and Epiq
Corporate Restructuring, LLC as noticing and information agent. The
committee also tapped the services of Harney Westwood & Riegels, LP
in connection with Three Arrows Capital Ltd.'s liquidation
proceedings in British Virgin Islands.


W&T OFFSHORE: Moody's Raises CFR to B3 & Alters Outlook to Stable
-----------------------------------------------------------------
Moody's Investors Service upgraded W&T Offshore, Inc.'s Corporate
Family Rating to B3 from Caa1 and affirmed the Caa1 rating of its
$275 million of senior secured second lien notes due 2026. The
Speculative Grade Liquidity (SGL) rating was upgraded to SGL-3 from
SGL-4. The outlook was changed to stable from ratings on review.
This concludes the review initiated on January 9, 2023.

W&T priced its $275 million 11.75% senior secured second lien notes
due 2026. The company will use net proceeds from the notes and cash
on the balance sheet to redeem the outstanding $552 million secured
second lien notes due 2023.

"The upgrade of W&T Offshore's Corporate Family Rating reflects the
refinancing transaction, which extends the company's debt maturity
profile and reduces debt, as well as supportive commodity prices
that sustain stronger credit metrics," commented Jonathan Teitel, a
Moody's analyst.

Upgrades:

Issuer: W&T Offshore, Inc.

Corporate Family Rating, Upgraded to B3 from Caa1

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

Speculative Grade Liquidity Rating, Upgraded to SGL-3 from SGL-4

Affirmations:

Issuer: W&T Offshore, Inc.

Backed Senior Secured Regular Bond/Debenture, Affirmed Caa1
(LGD4)

Outlook Actions:

Issuer: W&T Offshore, Inc.

Outlook, Changed To Stable From Rating Under Review

RATINGS RATIONALE

W&T's B3 CFR reflects the company's very long history of operating
in the US Gulf of Mexico but modest scale and a concentrated asset
base in the region. W&T has a long proved developed reserve life
and Moody's expects the company could increase proved developed
reserves with only modest capital spending to develop probable
reserves. W&T benefits from proximity to the Gulf Coast and low
basis differentials. Operations in the US Gulf of Mexico carry
specific regulations and are exposed to periodic weather-related
disruptions. However, there are also high barriers to entry. W&T
manages sizable well decommissioning liabilities.

W&T's SGL-3 rating reflects Moody's expectation for the company to
maintain adequate liquidity into 2024. As of September 30, 2022 and
pro forma for use of cash on the balance sheet to reduce debt, W&T
would have had about $165 million of cash. As of September 30,
2022, W&T had an undrawn revolver with a $50 million borrowing base
that matures in January 2024, which will reduce liquidity if not
extended. Revolver financial covenants are comprised of a minimum
current ratio, a maximum first lien leverage ratio and a minimum
asset coverage ratio. Moody's expects the company to maintain ample
headroom for future compliance with these covenants into 2024.

W&T's $275 million of senior secured second lien notes due 2026 are
rated Caa1. This is one notch below the CFR and reflects a second
lien claim on the assets that secure the revolver which has a first
lien claim. W&T also has a $157 first lien term loan due 2028
(unrated) backed by a carve out of Mobile Bay assets. These assets
were moved to wholly-owned special purpose vehicles that are
unrestricted subsidiaries with respect to the notes. The revolving
credit facility has a first lien priority claim on all of the
company's assets, except for the assets held in the subsidiaries
that are pledged to the term loan.  

The stable outlook reflects Moody's expectation that W&T will
maintain its production levels and adequate liquidity.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

Factors that could lead to an upgrade include growing both
production and reserves; consistent positive free cash flow
generation and good liquidity; retained cash flow (RCF) to debt
above 35%; and a leveraged full cycle ratio (LFCR) above 1.25x.

Factors that could lead to a downgrade include a meaningful decline
in production; RCF to debt below 20%; EBITDA/interest below 3x;
significant negative free cash flow or weakening liquidity.

W&T, headquartered in Houston, Texas, is a publicly traded
independent exploration and production company operating offshore
in the US Gulf of Mexico.

The principal methodology used in these ratings was Independent
Exploration and Production published in December 2022.


WHEEL PROS: KKR Fund Marks $769,700 Loan at 26% Off
---------------------------------------------------
KKR Income Opportunities Fund has marked its $769,700 loan extended
to Wheel Pros Inc to market at $567,233 or 74% of the outstanding
amount, as of October 31, 2022, according to a disclosure contained
in the KKR Fund's Form N-CSR for the fiscal year ended October 31,
2022, filed with the Securities and Exchange Commission on January
6,2023.

KKR IOF is a participant in a first lien term loan to Wheel Pros,
Inc. The loan accrues interest at a rate of 8.82% (LIBOR (1M) +
4.50%) per annum and matures on May 11, 2028.

KKR IOF was organized on March 17, 2011 as a statutory trust under
the laws of the State of Delaware. The Fund is a closed-end
registered management investment company, which commenced
operations on July 25, 2013. The Fund seeks to generate a high
level of current income, with a secondary objective of capital
appreciation. The Fund is diversified for purposes of the
Investment Company Act of 1940, as amended. KKR Credit Advisors
(US) LLC serves as the Fund's investment adviser.

Wheel Pros, Inc. manufactures vehicle wheels. The Company
distributes wheels, tires, suspension, and accessories for
vehicles.



XP TRANSPORT: Gets OK to Hire Gfeller Laurie as Special Counsel
---------------------------------------------------------------
XP Transport, LLC received approval from the U.S. Bankruptcy Court
for the Western District of Pennsylvania to employ Gfeller Laurie,
LLP as special counsel.

The Debtor needs the firm's legal assistance in connection with a
personal injury claim filed by one of its employees.

Gfeller Laurie will be paid $225 per hour for the services of its
attorneys and $110 per hour for paralegal services.

Adam Dolan, Esq., a partner at Gfeller Laurie, 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:

     Adam Dolan, Esq.
     Gfeller Laurie, LLP
     1650 Market Street, Suite 3600
     Philadelphia, PA 19103
     Tel: (267) 669-5001
     Fax: (267) 669-5002
     Email: adolan@gllawgroup.com

                        About XP Transport

XP Transport, LLC operates in the general freight trucking
industry. The company is based in Creekside, Pa.

XP Transport sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. W.D. Pa. Case No. 22-70417) on Dec. 14,
2022. In the petition signed by its managing member, Chad A. Park,
the Debtor disclosed $655,900 in assets and $1,389,620 in
liabilities.

Judge Jeffery A. Deller oversees the case.

Renee Kuruce, Esq., at Robleto Kuruce, PLLC and Gfeller Laurie, LLP
serve as the Debtor's bankruptcy counsel and special counsel,
respectively.


XP TRANSPORT: Taps Robleto Kuruce as Bankruptcy Counsel
-------------------------------------------------------
XP Transport, LLC received approval from the U.S. Bankruptcy Court
for the Western District of Pennsylvania to employ Robleto Kuruce,
PLLC as its legal counsel.

The firm's services include:

   a. providing legal advice including, guidance in completing
bnkruptcy schedules, statement of financial affairs and related
documents;

   b. preparing legal papers; and

   c. assisting with the review of claims and objections to claims,
and representing the Debtor in all meetings and hearings.

The firm's hourly rates are as follows:

     Aurelius P. Robleto, Esq.   $320 per hour
     Renee M. Kuruce, Esq.       $270 per hour
     Paralegals                  $110 per hour

Renee Kuruce, Esq., a partner at Robleto Kuruce, disclosed in a
court filing that she is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Renee Kuruce, Esq.
     Robleto Kuruce, PLLC
     6101 Penn Ave., Ste. 201
     Pittsburgh, PA 15206
     Tel: (412) 925-8194
     Fax: (412) 346-1035
     Email: rmk@robletolaw.com

                        About XP Transport

XP Transport, LLC operates in the general freight trucking
industry. The company is based in Creekside, Pa.

XP Transport sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. W.D. Pa. Case No. 22-70417) on Dec. 14,
2022. In the petition signed by its managing member, Chad A. Park,
the Debtor disclosed $655,900 in assets and $1,389,620 in
liabilities.

Judge Jeffery A. Deller oversees the case.

Renee Kuruce, Esq., at Robleto Kuruce, PLLC and Gfeller Laurie, LLP
serve as the Debtor's bankruptcy counsel and special counsel,
respectively.


YAK ACCESS: KKR Fund Marks $5.6M Loan at 42% Off
------------------------------------------------
KKR Income Opportunities Fund has marked its $5,622,555 loan
extended to Yak Access LLC to market at $3,288,182 or 58% of the
outstanding amount, as of October 31, 2022, according to a
disclosure contained in the KKR Fund's Form N-CSR for the fiscal
year ended October 31, 2022, filed with the Securities and Exchange
Commission on January 6, 2023.

KKR IOF is a participant in a first lien term loan to Yak Access
LLC. The loan accrues interest at a rate of 8.07% (LIBOR (3M) +
5.00%) per annum and matures on July 11, 2025.

KKR IOF was organized on March 17, 2011 as a statutory trust under
the laws of the State of Delaware. The Fund is a closed-end
registered management investment company, which commenced
operations on July 25, 2013. The Fund seeks to generate a high
level of current income, with a secondary objective of capital
appreciation. The Fund is diversified for purposes of the
Investment Company Act of 1940, as amended. KKR Credit Advisors
(US) LLC serves as the Fund's investment adviser.

Yak Access LLC provides construction services. The Company offers
matting solutions, installation and removal of temporary roads,
construction of permanent access roads, and civil services.



                            *********

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
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Each Tuesday edition of the TCR contains a list of companies with
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share in public markets.  At first glance, this list may look like
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Don't be fooled.  Assets, for example, reported at historical cost
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On Thursdays, the TCR delivers a list of recently filed
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includes links to freely downloadable images of these small-dollar
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Each Friday's edition of the TCR includes a review about a book of
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Monthly Operating Reports are summarized in every Saturday edition
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The Sunday TCR delivers securitization rating news from the week
then-ending.

TCR subscribers have free access to our on-line news archive.
Point your Web browser to http://TCRresources.bankrupt.com/and use
the e-mail address to which your TCR is delivered to login.

                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., 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
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are $25 each.  For subscription information, contact Peter A.
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                   *** End of Transmission ***