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

              Friday, May 26, 2023, Vol. 27, No. 145

                            Headlines

2 ELK SERVICES: Gets OK to Hire Sheade Law Office as Counsel
A & T ASSETS: Case Summary & Four Unsecured Creditors
AAA TREE: Case Summary & 20 Largest Unsecured Creditors
ADOLE GROUP: Seeks to Hire Law Offices of Jjais A. Forde as Counsel
ADVANCED REIMBURSEMENT: Amended Liquidating Plan Confirmed by Judge

AKRON REBAR: Seeks to Hire Gertz & Rosen as Bankruptcy Counsel
ALLENA PHARMACEUTICALS: Liquidating Plan Confirmed by Judge
ALPINE 4 HOLDINGS: Delays Filing of March 31 Quarterly Report
AMERIGAS PARTNERS: Fitch Alters Outlook on 'BB-' IDR to Negative
ATHENEX INC: Court Approves Stock Transfer Protocol

AULT ALLIANCE: Declares Monthly Cash Dividend of $0.2708333 Apiece
BED BATH & BEYOND: S&P Discontinues All Ratings
BERGIO INTERNATIONAL: Incurs $982K Net Loss in First Quarter
BIGHORN RESTAURANTS: Taps Hutchinson as Special Counsel
CELSIUS NETWORK: Taps KE Andrews as Property Tax Services Provider

CELSIUS NETWORK: UK Affiliate Taps Andersen as Tax Service Provider
CENPORTS COMMERCE: Bid to Use Cash Collateral Denied
CFN ENTERPRISES: Delays Filing of March 31 Quarterly Report
CHEMOURS CO: S&P Alters Outlook to Stable, Affirms 'BB' ICR
CHRISHULSERSELLSHOMES: Court OKs Cash Collateral Access

CREDIT ACCEPTANCE: Moody's Affirms 'Ba3' CFR, Outlook Stable
CUENTAS INC: Incurs $1.7 Million Net Loss in First Quarter
CURO GROUP: S&P Upgrades ICR to 'CCC+'; Outlook Negative
DMCC 450 CHARLES: Case Summary & Four Unsecured Creditors
ESCALON MEDICAL: Posts $585K Net Income in Third Quarter

FIRST QUANTUM: Fitch Gives Final B+ Rating on $1.3B Unsec. Notes
FORREST CONCRETE: Court OKs Final Cash Collateral Access
FRANKIE'S COMICS: Court OKs Interim Cash Collateral Access
FREEDOM MISSIONARY: Taps Law Office of John E. Dunlap as Counsel
GATOR COURIER: Case Summary & 13 Unsecured Creditors

GLOBAL MIXED: Unsecured Creditors to Split $5K in 36 Months
GLOBAL TEE: Case Summary & 18 Unsecured Creditors
GREENHILL & CO: Moody's Puts 'B1' CFR on Review for Upgrade
HILLENBRAND INC: FPM Transaction No Impact on Moody's 'Ba1' CFR
HILLENBRAND INC: S&P Affirms 'BB+' ICR on Expected Deleveraging

HONEY CREEK PARTNERS: Taps Griffin Harris as Real Estate Counsel
HOSTESS BRANDS: Moody's Alters Outlook on 'B1' CFR to Positive
HUMANIGEN INC: Incurs $4.2 Million Net Loss in First Quarter
J&K REAL ESTATE: Voluntary Chapter 11 Case Summary
JAGUAR HEALTH: Replenishes New Employee Inducement Plan

JNJ HOME HEALTH CARE: Seeks to Hire Hickey & Hickey as Accountant
KEITH STRANGE: Court OKs Interim Cash Collateral Access
KENROCK ENTERPRISES: Unsecureds Owed $240K to Get Full Amount
KJ TRADE: Seeks OK to Expand Scope of ATAGCPA's Services
KUBERLAXMI LLC: Amends Celtic Bank Secured Claim Pay

LEADING LIFE: To Seek Plan Confirmation on June 28
LS PARENT: S&P Affirms 'B-' ICR on Continued Cash Generation
MANCUSO MOTORSPORTS: Cash Collateral Access OK'd Thru July 28
MAVIS TIRE: S&P Affirms 'B-' ICR on Announced Acquisition
MDWERKS INC: Auditor Discovers Errors in 2022 Financial Statements

MEDME SERVICES: Unsecureds Owed $6K+ Will Get 27.81% in 36 Months
MULTEC INDUSTRIAL: Seeks to Hire Jones & Walden as Legal Counsel
MUSIC GETAWAYS: Court OKs Cash Collateral Access Thru May 30
NATIONAL REALTY: August 1 Plan Confirmation Hearing Set
NATURE COAST: Disclosures Hearing Continued to June 29

NEW TROJAN: S&P Downgrades ICR to 'CCC+', Outlook Negative
NORTHWEST BANCORP: Trustee's Plan Disclosures Approved
ORALE MOTOR: Seeks to Tap Baker & Associates as Bankruptcy Counsel
PACKERS HOLDINGS: S&P Downgrades ICR to 'CCC+' on Labor Issues
PEACE EQUIPMENT: Voluntary Chapter 11 Case Summary

PEAR THERAPEUTICS: Committee Taps Archer & Greiner as Del. Counsel
PEAR THERAPEUTICS: Committee Taps Dundon as Financial Advisor
PEAR THERAPEUTICS: Committee Taps Thompson Coburn Hahn as Counsel
PEKING DUCK: Gets OK to Hire Konstantine Sparagis as Legal Counsel
PITNEY BOWES: S&P Downgrades ICR to 'BB-', Outlook Stable

PLASTIQ INC: Case Summary & 20 Largest Unsecured Creditors
PLASTIQ INC: Priority Technology to Acquire Assets in Chapter 11
PORTER'S PENINSULA: Court OKs Interim Cash Collateral Access
POSEIDON MOVING: Unsecured Owed $473K to Get 100 Cents on Dollar
PRODUCE DEPOT: Court Extends Time to Confirm Plan to July 7

PROTECH FIRE: May Use $61,393 of Cash Collateral
QUALITY HEATING: Committee Taps Morris James as Legal Counsel
QUALTEK SERVICES: Case Summary & 30 Largest Unsecured Creditors
QUALTEK SERVICES: Files for Chapter 11 With Plan Deal
R7 LEASE: Court OKs Deal on Cash Collateral Access

RETAIL ECOMMERCE: Advised by CohnReznick on RadioShack Auction
RIALTO BIOENERGY: Anaergia Unit Pursues Chapter 11 Restructuring
RIALTO BIOENERGY: Case Summary & 20 Largest Unsecured Creditors
SCHON ELISE: Case Summary & One Unsecured Creditor
SELBYSOFT INC: Case Summary & Four Unsecured Creditors

SEMRAD LAW: Gets OK to Hire 'Ordinary Course' Professionals
SEMRAD LAW: Gets OK to Hire Novo as Financial Advisor
SEMRAD LAW: Gets OK to Hire Pashman Stein Walder Hayden as Counsel
SRPC PROPERTIES: Case Summary & One Unsecured Creditor
STRUCTURAL TECHNOLOGY: Gets OK to Hire Jennings as Special Counsel

STRUCTURLAM MASS: Gets OK to Hire Chipman Brown Cicero as Counsel
STRUCTURLAM MASS: Gets OK to Hire Gowling WLG as Canadian Counsel
STRUCTURLAM MASS: Gets OK to Tap Kurtzman as Administrative Advisor
STRUCTURLAM MASS: Taps Alvarez & Marsal as Financial Advisor
STRUCTURLAM MASS: Taps Miller Buckfire & Co. as Investment Banker

SYMBIONT.IO INC: LM Funding Announces $2.6M "Stalking Horse" Bid
TACONY ACADEMY: S&P Assigns 'BB+' Rating on 2023 Revenue Bonds
TIMBER PHARMACEUTICALS: Posts $4.1 Million Net Loss in 1st Quarter
TRICIDA INC: Court Orders Changes to Opt-Out for Shareholders
TRICIDA INC: Liquidating Plan Confirmed After Global Settlement

TRICIDA INC: Patheon to Have $85-Mil. Unsecured Claim
TUESDAY MORNING: Hilco Sets June 8 Deadline for Offers
UKG INC: S&P Rates New $400MM Incremental 1st-Lien Term Loan 'B-'
VIRGIN ORBIT: Finds 4 Winning Bidders, to Halt Operations
VPR BRANDS: Posts $25K Net Income in First Quarter

WHITE RABBIT: Unsecureds to Receive 5 Annual Payments
YIELD10 BIOSCIENCE: Receives Noncompliance Notice From Nasdaq
[*] Hilco Real Estate Announces Two Key Hires to Organization
[^] BOOK REVIEW: Macy's for Sale

                            *********

2 ELK SERVICES: Gets OK to Hire Sheade Law Office as Counsel
------------------------------------------------------------
2 Elk Services, LLC received approval from the U.S. Bankruptcy
Court for the District of Colorado to hire Sheade Law Office, LLC
as its counsel.

The Debtor requires legal counsel to:

     a. investigate and analyze financial documents detailing
transactions concerning the Debtor's financial affairs, and assist
the Debtor in preparing pleadings, disclosures and monthly
operating reports for filing;

     b. advise the Debtor regarding its powers, duties, and
obligations;

     c. prepare statements, schedules, reports and legal papers;

     d. represent the Debtor in contested matters or adversary
proceedings; and

     e. perform other necessary legal services.

The firm will charge these hourly fees:

     Communications and Correspondences:

        Creditors and Interested Parties   $300
        Client   $225

     Discovery Practice:

        Requests, Responses, Disputes, and Depositions   $300
        Procedural Pleadings, Disclosure, Lists, and Reports  
$225
        Document Disclosures, Production, and Analysis   $150

     Financial Disclosures:

        Chapter 11 Plan Exhibits   $225
        Reporting of Pre- and Post-Petition Affairs   $150

     Hearings:

        Appearances   $300
        Pre-Attendance Preparations   $225

     Motions and Pleadings Practice:

        Substantive or Complex Matters   $300
        Procedural Matters   $225
        Schedules, Statements, and Initial Disclosures   $150

     General Estate Administration:

        Fee Applications   $225
        Paralegal Services   $100
        Administrative and Clerical Services   $0

In a court filing, Joshua Sheade, Esq., at Sheade Law Office
disclosed that his firm is a "disinterested person" pursuant to
Section 101(14) of the Bankruptcy Code.

Sheade Law Office can be reached through:

     Joshua B. Sheade, Esq.
     Sheade Law Office, LLC
     1159 Delaware Street
     Denver, CO 80202
     Tel: (314) 650-7183
     Email: joshua.sheade@gmail.com

                       About 2 Elk Services

2 Elk Services, LLC sought protection for relief under Chapter 11
of the Bankruptcy Code (Bankr. D. Colo. Case No. 23-10430) on Feb.
8, 2023, with up to $50,000 in assets and $100,001 to $500,000 in
liabilities. Judge Elizabeth E. Brown oversees the case.

Joshua B. Sheade, Esq., at Sheade Law Office, LLC represents the
Debtor as counsel.


A & T ASSETS: Case Summary & Four Unsecured Creditors
-----------------------------------------------------
Debtor: A & T Assets LLC
        21-16 31st Avenue
        Astoria, NY 11106

Business Description: The Debtor is engaged in activities related
                      to real estate.  The Debtor is the fee
                      simple owner of a real property located at
                      23-33 31st Street, Astoria, NY valued at
                      $3 million.

Chapter 11 Petition Date: May 24, 2023

Court: United States Bankruptcy Court
       Eastern District of New York

Case No.: 23-41827

Judge: Hon. Nancy Hershey Lord

Debtor's Counsel: Marc A. Pergament, Esq.
                  WEINBERG, GROSS & PERGAMENT LLP
                  400 Garden City Plaza
                  Suite 309
                  Garden city, NY 11530

Total Assets: $3,000,000

Total Liabilities: $7,550,824

The petition was signed by Evangelos Gerasimou as manager.

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

https://www.pacermonitor.com/view/QLLXZ5Q/A__T_Assets_LLC__nyebke-23-41827__0001.0.pdf?mcid=tGE4TAMA


AAA TREE: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: AAA Tree Service LLC
        32680 Pines Airpark Road
        Winchester, CA 92596

Business Description: The Debtor provides tree removals and
                      trimming services.

Chapter 11 Petition Date: May 25, 2023

Court: United States Bankruptcy Court
       Central District of California

Case No.: 23-12229

Judge: Hon. Magdalena Reyes Bordeaux

Debtor's Counsel: Robert P. Goe, Esq.
                  GOE FORSYTHE & HODGES LLP
                  17701 Cowan
                  Building D, Suite 210
                  Irvine, CA 92614
                  Tel: (949) 798-2460
                  Fax: (949) 955-9437
                  Email: rgoe@goeforlaw.com

Estimated Assets: $10 million to $50 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Stacy Manqueros as CEO.

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

https://www.pacermonitor.com/view/GZ4JZSY/AAA_Tree_Service_LLC__cacbke-23-12229__0001.0.pdf?mcid=tGE4TAMA

List of Debtor's 20 Largest Unsecured Creditors:

  Entity                            Nature of Claim   Claim Amount

1. Corporate Lodging               Workforce Lodging      $308,993
Consultants, Inc                    and management
c/o Samual G                           services
Lockhart, Esq
Lockhart Law Firm
A.P.C.
41856 Ivy Street, Ste 201
Murrieta, CA 92562

2. First Insurance Funding           Lease Rental         $203,623
PO Box 7000
Carol Stream, IL
60197-7000

3. American Express                Business Related       $127,147
PO Box 96001                             Debt
Los Angeles, CA
90096-8000

4. NIP Group Inc                   Business Related       $120,837
PO Box 70280                             Debt
Lockbox 10313
Philadelphia, PA
19176-0280

5. Express 4x4 Truck Rental        Business Related        $73,968
330 S Warminster                         Debt
Rd, Ste 334
Hatboro, PA 19040

6. Global Rental                   Rental Contract         $60,815
325 Industrial Way
Dixon, CA 95620

7. Comfort Inn Rocklin                Lodging              $47,724
4420 Rocklin Rd
Rocklin, CA 95677

8. Wex Bank                      Business Related          $47,022
PO Box 6293                           Debt
Carol Stream, IL
60197-6293

9. Zoe Huebner                   Business Related          $25,049
42447 Juniper Rd                      Debt
Auberry, CA 93602

10. Lewis Brisbois                 Legal Fees              $21,533
Bisgaard & Smith LLP
633 W Fifth St, Ste 4000
Los Angeles, CA 90071

11. Verizon                      Business Related          $16,831
PO Box 489                             Debt
Newark, NJ
07101-0489

12. Compstar Insurance           Business Related          $15,618
Services LLC                           Debt
Lockbox PO Box 1000
Memphis, TN
38148-0059

13. Industrial Training          Business Related           $8,710
Services                              Debt
120 Max Hurt Dr
Murray, KY 42071

14. Lytx Inc                     Business Related           $6,103
PO Box 849972                         Debt
Los Angeles, CA
90084-9972

15. Volvo Construction           Business Related           $5,120
Eqpt & Svcs                           Debt
PO Box 894430
Los Angeles, CA
90189-4430

16. Buckhorn Camp                Business Related           $3,960
PO Box 398                            Debt
Idyllwild, CA 92549

17. Mathis Consulting            Business Related           $2,940
340 Northern Flicker St               Debt
Kyle, TX 78640

18. Motel 6                      Business Related           $2,716
PO Box 846175                         Debt
Dallas, TX
75284-6175

19. American Crane               Business Related           $2,523
PO Box 308                            Debt
Escalon, CA 95320

20. Cart Addictions              Business Related           $1,850
14396 Hwy 41                          Debt
Madera, CA 93636


ADOLE GROUP: Seeks to Hire Law Offices of Jjais A. Forde as Counsel
-------------------------------------------------------------------
Adole Group, LLC seeks approval from the U.S. Bankruptcy Court for
the Southern District of New York to hire the Law Offices of Jjais
A. Forde, PLLC as its 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;

     (c) commencing actions with respect to the Debtor's avoiding
powers under the Bankruptcy Code;

     (d) advising the Debtor with respect to transactions entered
into during the pendency of the Debtor's case;

     (e) assisting the Debtor in the formation of a Chapter 11
plan; and

     (f) other legal services.

The firm will be paid at these rates:

     Senior Counsel             $450 per hour
     Associate                  $275 - $325 per hour
     Paralegal                  $175 per hour
     Administrative Assistant   $100 per hour

As disclosed in court filings, the Law Offices of Jjais A. Forde is
a "disinterested person" pursuant to Section 101(14) of the
Bankruptcy Code.

The firm can be reached through:

     Jjais A. Forde, Esq.
     Law Offices of Jjais A. Forde, PLLC
     68 W 120th Street
     New York, NY 10027
     Tel: 516-350-8325
     Email: bankruptcy@fordelawoffices.com

                         About Adole Group

Adole Group LLC is a single asset real estate (as defined in 11
U.S.C. Section 101(51B)).  The Debtor is the owner in fee simple
title of a property located at 68 W 120th St., New York, valued at
$2.89 million.

Adole Group filed a petition for relief under Chapter 11 of the
Bankruptcy Code (Bankr. S.D.N.Y. Case No. 23-10222) on Feb. 15,
2023.  In the petition filed by its managing member, Cheryl A.
Smith, MD, the Debtor reported $2,905,200 in total assets and
$1,735,749 in total liabilities.

Judge David S. Jones oversees the case.

The Debtor is represented by Jjais A. Forde, Esq., at the Law
Offices of Jjais A. Forde, PLLC.


ADVANCED REIMBURSEMENT: Amended Liquidating Plan Confirmed by Judge
-------------------------------------------------------------------
Judge Brenda K. Martin has entered an order confirming the Amended
Plan of Liquidation of Advanced Reimbursement Solutions, LLC, and
American Surgical Development, LLC.

The Debtors have proposed the Plan in good faith and not by any
means forbidden by law. Accordingly, the Plan satisfies Section
1129(a)(3) of the Bankruptcy Code.

The Debtors have disclosed, and as the Plan provides, the Debtors'
assets will transfer into the ARS Liquidating Trust, with Rick
Arrowsmith of FTI Consulting, Inc. to serve as the Liquidating
Trustee. Accordingly, the Plan satisfies Section 1129(a)(5) of the
Bankruptcy Code.

The Plan is a liquidating plan, the funding of which is dependent
on the successful liquidation of the Liquidating Trust Assets and
prosecution of Causes of Action. Thus, Section 1129(a)(11) of the
Bankruptcy Code does not apply or is otherwise satisfied by virtue
of the liquidation contemplated in the Plan

The ARS Liquidating Trust shall form on the Effective Date with
Rick Arrowsmith of FTI Consulting, Inc. to serve as the Liquidating
Trustee pursuant to the terms and conditions of the LTA, and all of
the Debtors' assets, also known as the Liquidating Trust Assets,
shall transfer thereto in accordance with Section 4.1 of the Plan.

Pursuant to Section 1123(b) of the Bankruptcy Code, all of Debtors'
Claims and Causes of Action, as defined in the Plan, including any
Claims or Causes of Action obtained by operation of the substantive
consolidation of IIONS, LLC into the Debtors' estates through
separate order, are retained and vested in the ARS Liquidating
Trust in accordance with Sections 4.5 and 10.1 of the Plan without
any further action by the Court.

A full-text copy of the Plan Confirmation Order dated May 18, 2023
is available at https://urlcurt.com/u?l=1H0g4K from
PacerMonitor.com at no charge.

Attorneys for Debtors:

     Philip J. Giles, Esq.
     David B. Nelson, Esq.
     Allen Barnes & Jones, PLC
     1850 N. Central Ave., Suite 1150
     Phoenix, AZ 85004
     Telephone: (602) 256-6000
     Facsimile: (602) 252-4712
     Email: pgiles@allenbarneslaw.com
            dnelson@allenbarneslaw.com

              About Advanced Reimbursement Solutions

Advanced Reimbursement Solutions, LLC, is a full cycle revenue
management enterprise specializing in out-of-network (OON) medical
services, patient advocacy, and proprietary billing software.  The
company is based in Scottsdale, Ariz.

Advanced Reimbursement Solutions and its affiliate, American
Surgical Development, LLC, sought protection under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. D. Ariz. Lead Case No. 22-06372)
on Sept. 23, 2022.  In the petitions signed by their chief
restructuring officer, Bryan Perkinson, the Debtors disclosed
between $10 million and $50 million in both assets and
liabilities.

The Debtors tapped Allen Barnes & Jones, PLC as legal counsel and
Bryan Perkinson, Sonoran Capital Advisors' managing director, as
chief restructuring officer.


AKRON REBAR: Seeks to Hire Gertz & Rosen as Bankruptcy Counsel
--------------------------------------------------------------
Akron Rebar Company and Sentinel Intelligence Group, LLC seek
approval from the U.S. Bankruptcy Court for the Northern District
of Ohio to hire Gertz & Rosen, Ltd. to handle their Chapter 11
cases.

Gertz & Rosen's hourly rates are as follows:

     Marc P. Gertz      $395
     Peter G. Tsarnas   $275
     Colin G. Skinner   $250
     Paralegals         $75

The Debtors paid the firm a retainer in the amount of $28,000.

Peter Tsarnas, Esq., a partner at Gertz & Rosen, disclosed in court
filings that his firm is a "disinterested person" pursuant to
Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Peter G. Tsarnas, Esq.
     Gertz & Rosen, Ltd.
     11 South Forge Street
     Akron, OH 44304
     Tel: 330-376-8336
     Email: ptsarnas@gertzrosen.com

                       About Akron Rebar Co.-

Akron Rebar Co. and Sentinel Intelligence Group, LLC sought
protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr.
N.D. Ohio Lead Case No. 23-50624) on May 4, 2023. At the time of
the filing, Akron reported $500,001 to $1 million in assets and $1
million to $10 million in liabilities while Sentinel reported $1
million to $10 million in both assets and liabilities.

Judge Alan M. Koschik oversees the cases.

Peter G. Tsarnas, Esq., at Gertz & Rosen, Ltd., represents the
Debtors as legal counsel.


ALLENA PHARMACEUTICALS: Liquidating Plan Confirmed by Judge
-----------------------------------------------------------
Judge Karen B. Owens has entered findings of fact, conclusions of
law and order confirming the Plan of Liquidation of Allena
Pharmaceuticals, Inc.

The Plan provides adequate and proper means for the implementation
of the Plan, including, without limitation, (i) the creation of the
Liquidation Trust; and (ii) the procedures for making distributions
to holders of Allowed Claims and Interests. Accordingly, the Plan
satisfies Bankruptcy Code section 1123(a)(5).

The Debtor has proposed the Plan, including all documents necessary
to effectuate the Plan, in good faith and not by any means
forbidden by law, thereby satisfying the requirements of Bankruptcy
Code section 1129(a)(3). The Debtor's good faith is evident from
the facts and record of this Chapter 11 Case, the Disclosure
Statement, and the record of the Confirmation Hearing and other
proceedings held in this Chapter 11 Case.

The liquidation analysis and other evidence proffered or adduced at
the Confirmation Hearing (i) is persuasive and credible, (ii) has
not been controverted by other evidence, and (iii) establishes that
each holder of a Claim in an Impaired Class either has accepted the
Plan or will receive or retain under the Plan, on account of such
Claim, property of a value, as of the Effective Date, that is not
less than the amount that such holder would receive or retain if
the Debtor were liquidated under chapter 7 of the Bankruptcy Code
on such date.  

The Plan satisfies Bankruptcy Code section 1129(a)(11). The
information in the Disclosure Statement and the evidence proffered
or adduced at the Confirmation Hearing (i) is persuasive and
credible, (ii) has not been controverted by other evidence, and
(iii) establishes that the Plan is feasible and that there is a
reasonable prospect of the Debtor being able to meet its financial
obligations under the Plan and that confirmation of the Plan is not
likely to be followed by the need for further liquidation or
financial reorganization of the Debtor, thereby satisfying the
requirements of Bankruptcy Code section 1129(a)(11).

The releases provided pursuant to Article VII.C of the Plan and as
modified herein: (i) represent a sound exercise of the Debtor's
business judgment; (ii) were negotiated in good faith and at arm's
length; and (iii) are (a) in exchange for good and valuable
consideration, (b) a good faith settlement and compromise of the
claims released thereby, (c) in the best interest of the Debtor and
its Estate and (d) fair, equitable, and reasonable under the
circumstances of this Chapter 11 Case.

A full-text copy of the Plan Confirmation Order dated May 18, 2023
is available at https://urlcurt.com/u?l=4UKOhg from Stretto, the
claims agent.

Counsel to the Debtor:

     Adam G. Landis, Esq.
     Matthew B. McGuire, Esq.
     Nicolas E. Jenner, Esq.
     LANDIS RATH & COBB LLP  
     919 Market Street, Suite 1800
     Wilmington, DE 19801
     Telephone: (302) 467-4400
     Facsimile: (302) 467-4450

                 About Allena Pharmaceuticals

Allena is a pre-commercial clinical biopharmaceutical company
dedicated to discovering, developing and commercializing
first-in-class, oral biological therapeutics to treat patients with
rare and severe metabolic and kidney disorders such as gout and
kidney stones.

Allena Pharmaceuticals, Inc., filed its voluntary petition for
relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case
No. 22-10842) on Sep. 2, 2022. The petition was signed by Matthew
Foster as chief restructuring officer. At the time of filing, the
Debtor estimated $14,368,000 in assets and $3,455,000 in
liabilities.

The Hon. Karen B. Owens presides over the case.

Matthew B. McGuire, Esq., at LANDIS RATH & COBB LLP, represents the
Debtor.


ALPINE 4 HOLDINGS: Delays Filing of March 31 Quarterly Report
-------------------------------------------------------------
Alpine 4 Holdings, Inc. disclosed via Form 12b-25 filed with the
Securities and Exchange Commission it could not complete the filing
of its Quarterly Report on Form 10-Q for the period ended March 31,
2023 in a timely manner due to only having just completed and filed
its 2022 Form 10-K on May 5, 2023, leaving insufficient time
remaining to obtain, compile, and review the information required
to be included in the First Quarter Form 10-Q.  

The delay could not be eliminated by the Company without
unreasonable effort and expense. In accordance with Rule 12b-15 of
the Securities Exchange Act of 1934, the Company will file its
First Quarter Form 10-Q as soon as practicable.

                            About Alpine 4

Alpine 4 Holdings, Inc (formerly Alpine 4 Technologies, Ltd) is a
publicly traded conglomerate that is acquiring businesses that fit
into its disruptive DSF business model of drivers, stabilizers, and
facilitators.

Alpine 4 Holdings reported a net loss of $12.87 million for the
year ended Dec. 31, 2022, compared to a net loss of $19.48 million
for the year ended Dec. 31, 2021.  As of Dec. 31, 2022, the Company
had $145.63 million in total assets, $75.64 million in total
liabilities, and $69.99 million in total stockholders' equity.

Phoenix, Arizona-based RSM US LLP, the Company's auditor since
2022, issued a "going concern" qualification in its report dated
May 5, 2023, citing that the Company has suffered recurring losses
from operations and recurring negative cash flows from operations.
This raises substantial doubt about the Company's ability to
continue as a going concern.


AMERIGAS PARTNERS: Fitch Alters Outlook on 'BB-' IDR to Negative
----------------------------------------------------------------
Fitch Ratings has revised the Rating Outlooks to Negative from
Stable for AmeriGas Partners, L.P. (AmeriGas) and its financing
co-borrower AmeriGas Finance Corp. (Finance). Fitch has also
affirmed the Issuer Default Ratings (IDRs) for both companies at
'BB-' and has subsequently withdrawn Finance's IDR. Fitch also
affirmed the co-issued senior unsecured notes at 'BB-'/'RR4' and
assigned a rating of 'BB-'/'RR4' to the proposed co-issued senior
unsecured notes. Proceeds from the new notes will be used to redeem
the existing senior unsecured notes due in 2024.

The affirmation of AmeriGas' IDR considers its rating linkage with
UGI Corporation (UGI; not rated) and the resulting rating uplift
from UGI's stronger standalone credit profile (SCP) under Fitch's
Parent and Subsidiary Linkage Criteria. AmeriGas' SCP is consistent
with a 'b+' rating due to its size and scale, operational execution
difficulties and maturity wall. Fitch expects AmeriGas will benefit
from UGI's support.

The Negative Outlook reflects the breach of AmeriGas' leverage and
interest coverage ratios, which were subsequently cured at the
close of 2Q FY23 after weaker operating performance over the FY23
winter heating season. Higher operating and administrative
expenses, including costs related to a shortage of delivery drivers
and adverse weather conditions, contributed to lower EBITDA
generation. Additionally, AmeriGas has debt maturing each year
through FY27 in an elevated interest rate environment.

Fitch may resolve the Negative Outlook if AmeriGas is able to
resolve its customer service issues and grow retail propane sales
to provide headroom against financial covenants.

Fitch has withdrawn the LT IDR of Finance as Fitch does not
typically assign IDRs to debt issuing funding vehicles with no
operations.

KEY RATING DRIVERS

UGI Support Provides Uplift: Fitch assesses AmeriGas' SCP at 'b+'
based on standalone credit metrics and business risk. UGI's SCP is
stronger given the diversity of cash flow from its various
subsidiaries and low levels of parent-only debt. The linkage
between the companies follows a strong parent/weak subsidiary
approach. Legal incentive is weak given the lack of guarantees.
Strategic incentives are also weak as AmeriGas pays dividends up to
UGI Corp., but the amount is varied and flexible. Operational
incentives are assessed as medium, given the expertise of sourcing
liquefied petroleum gas (LPG) across AmeriGas and sister company
UGI International (UGII; BB+/Stable). This results in AmeriGas'
ratings receiving a one-notch uplift.

UGI Contributions: In response to the leverage and interest
coverage ratio covenant breach at AmeriGas, UGI provided
approximately $31 million to AmeriGas as an equity cure and a
letter of support for a stated period that Fitch expects will
extend to approximately early May 2024. UGI also contributed
another $150 million to allow AmeriGas' refinancing of the May 2024
senior notes at a lower face amount. Fitch expects UGI will
continue to remain supportive of AmeriGas' credit in the form of
flexible dividends and additional equity contributions if
necessary. Per the credit agreement, the leverage covenant will
decline from 5.75x to 5.5x after June 2024. The equity cure
provision can be exercised four more times over the life of the
credit agreement but not in consecutive quarters.

Weaker EBITDA Drives Covenant Breach: AmeriGas' weaker operating
performance over the FY23 winter heating season resulted in a
breach of both the leverage and interest coverage ratios as defined
under the revolving credit facility (RCF). Fitch calculates LTM
2QFY23 EBITDA leverage at 6.2x as LTM EBITDA fell over 8% from
FY22. Pro-forma for the UGI-supported refinancing transaction,
Fitch calculates leverage at approximately 5.8x (this figure would
be lower under AmeriGas' credit agreement calculation) and
declining closer to about 5.5-5.6x by FY23. Fitch assumes more
normalized weather conditions in FY24 and for customer service
issues related to deliveries to improve, resulting in a rebound of
retail volumes and EBITDA closer to FY22 levels.

Elevated Interest Rates and Maturity Wall: AmeriGas has senior
unsecured notes maturating each fiscal year through 2027. In the
current elevated interest rate environment, refinancing will
increase AmeriGas' interest expense and further strain interest
coverage. Fitch expects AmeriGas to proactively manage upcoming
maturities and improve liquidity while avoiding the springing
maturity of the RCF.

Warmer Winter and Operating Issues Decrease Volumes: AmeriGas'
retail gallons sold are highly seasonal and driven by the winter
heating season. Approximately 80%-85% of EBITDA is derived in the
first two quarters of each fiscal year ending September. Results
from the FY23 heating season were affected by unfavorable weather
conditions. The winter heating season was approximated 0.4% warmer
than normal during the first six months of FY23 with regional
weather and customer service issues impacting volumes.
Significantly warmer weather in the key eastern and southern
regions of the U.S. slowed demand for propane as a heating source
over the winter. Temperatures in the western region were
meaningfully colder than normal, but severe weather impeded
deliveries and lead to further volume loss.

The company continues to face staffing shortages in key delivery
positions, which impedes on-time deliveries. AmeriGas achieved
higher unit margin per gallon, partially offsetting the weaker
volume performance. It will focus future investments on their ACE
(cylinder-exchange) business, which provides some seasonal
diversity, as well as their national accounts program, where
volumes are steady year-round. The seasonal factors are embedded in
Fitch's analysis.

Customer Conservation and Attrition: Customer conservation and
attrition remain challenges for the retail propane industry,
driving sustained long-term retail volumes declines. Retail propane
sales are AmeriGas' primary source of revenue. At 2Q FY23, it
accounted for approximately 85% of total revenue. Wholesale propane
prices have declined approximately 37% yoy through the six months
of FY23. Customer price sensitivity hinders management's ability to
pass on rising commodity prices by increasing retail unit margins.
Electricity remains the largest competing heat source to propane.
Customer migration to natural gas is a longer-term competitive
factor as natural gas utilities build out systems to serve areas
previously only served by propane and electricity providers.

Scale of Business: The market for propane distribution in the U.S.
is fragmented with a handful of national distributors in
competition with smaller local players. AmeriGas has the largest
retail propane distributor network in the country, which provides
it with significant customer and geographic diversity. This broad
scale and diversity help to dampen the weather-related volatility
of cash flows. AmeriGas serves approximately 1.4 million customers
across all 50 states. Retail gallon sales are fairly evenly
distributed by geography, which can help limit the impact of warm
weather within its regional base.

DERIVATION SUMMARY

AmeriGas' 'BB-' rating reflects the company's declining size and
scale as the company has struggled to maintain or grow their
volumes of retail propane gallons sold. AmeriGas' business
primarily focuses on retail propane distributions, which is
relatively unique compared to Fitch's other midstream energy
coverage. Retail propane distribution is a highly fragmented market
with a significant amount of seasonal sales driven by weather. Pro
forma the refinancing transaction, Fitch estimates LTM 2Q FY23
leverage at approximately 5.8x improving to around 5.5x-5.6x at by
the end of FY23. Fitch anticipates leverage will decline closer to
5.2-5.3x through FY24 assuming more normalized winter weather and
resolution of driver shortages.

AmeriGas' leverage is higher than wholesale fuel distributor Sunoco
LP (SUN; BB+/Stable). Fitch considers SUN to be the closest
comparable to AmeriGas as both companies have seasonal or
cyclically exposed cash flow and perform fuel sourcing operations.
Of note, AmeriGas' retail propane demand tends to be more
seasonally affected than motor fuel demand. SUN has been more
successful in deleveraging than AmeriGas with SUN's leverage
expected to fall to 4.2x through calendar YE23, which is over a
full turn lower than expectations for AmeriGas by the end of FY23.

Fitch rates AmeriGas' international propane retail affiliate UGII
at 'BB+' with a Stable Outlook. Although UGII is a large propane
retailer, it operates in less fragmented European markets with
lower leverage. AmeriGas has higher leverage than UGII, with UGII's
leverage expected to remain below 3.0x through the forecast
period.

Rockpoint Gas Storage Partners, L.P. (ROCGAS; B-/Stable), a natural
gas storage provider, is similar to AmeriGas, with a strong
seasonal component and is heavily influenced by the weather during
the peak season. AmeriGas operates on the retail level while ROCGAS
sells at the wholesale level. AmeriGas is much bigger than ROCGAS
and has stronger geographic diversity compared with ROCGAS's
geographical concentration in Alberta. ROCGAS's leverage, which is
strong for the rating category, offsets its geographic
concentration. Fitch expects ROCGAS' leverage to be below 5.0x over
the forecast period, comparing more favorably to Fitch's leverage
expectations for AmeriGas.

KEY ASSUMPTIONS

- Retail sales and wholesale sales decline by approximately 8% in
YoY for the FYE Sept. 30, 2023 and demonstrate some recovery in FYE
Sept. 30, 2024, remaining relatively flat thereafter;

- Base interest rate applicable to the RCF reflects the Fitch
Global Economic Outlook, e.g., 5.5% for 2023 and 4% for 2024;

- Distribution expected to be varied with support from UGI Corp to
avoid breach of covenants as required over forecast period;

- Average retail unit margins decline from current FY 2023 levels
over the forecast period;

- Capital spending between $125 million and $150 million annually.

RATING SENSITIVITIES

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

- The Outlook may be stabilized if headroom under credit agreement
calculation of interest coverage ratio rises above 3.0x and
leverage to below 5.3x is achieved and expected to be sustained,
along with the refinancing of the 2025 maturity;

- Reported total debt with equity credit to operating EBITDA below
5.0x and expected to remain below 5.0x on a sustained basis;

- Increased scale of business while improving impairing
profitability.

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

- EBITDA leverage above 6.0x on a sustained basis;

- Material loss of customers;

- Failure to maintain leverage and interest coverage ratios as
defined by credit agreement;

- Absence of proactive refinancing of 2025 maturity approximately
one year in advance;

- Lack of parental support compared to Fitch's expectation.

LIQUIDITY AND DEBT STRUCTURE

Parent Supported Liquidity: As of March 31, 2023, AmeriGas had
roughly $605 million of available liquidity following an equity
cure capital contribution from UGI. AmeriGas had $37 million of
cash and cash equivalents along with $568 million available of the
$600 million senior unsecured revolver credit facility. The
revolver had $30 million outstanding borrowings and $2 million
LOCs.

The revolver contains several debt covenants including maintaining
leverage below 5.75x through June 2024 after which time leverage
must be maintained below 5.5x, as well as interest coverage ratio
above 2.75x. Under Fitch's forecast Fitch assumes AmeriGas will
have limited headroom and potentially trip the interest coverage
ratios during the forecast period. The irrevocable letter of
support for a stated period, which Fitch expects to extend to
approximately early May 2024, is positive for liquidity and
provides assurance of continued cash contributions if needed for
future equity cures.

The revolver also contains a springing maturity provision in the
event $150 million or more principal remains outstanding on any of
the senior notes that mature ahead of the revolver 91 days before
the maturity of said notes. Following this proposed refinancing,
the next maturity is due May 2025 with additional upcoming
maturities each year through 2027.

ISSUER PROFILE

AmeriGas is the largest retail propane distributor in the U.S.,
serving over 1.4 million residential, commercial, industrial,
agricultural, wholesale and motor fuel customers in all 50 states
from approximately 1,400 propane distribution locations. AmeriGas
is a wholly owned subsidiary of UGI Corporation.

ESG CONSIDERATIONS

Unless otherwise disclosed in this section, the highest level of
ESG credit relevance is a score of '3'. This means ESG issues are
credit-neutral or have only a minimal credit impact on the entity,
either due to their nature or the way in which they are being
managed by the entity.

   Entity/Debt             Rating         Recovery   Prior
   -----------             ------         --------   -----
AmeriGas Finance
Corp.               LT IDR BB-  Affirmed               BB-

                    LT IDR WD   Withdrawn              BB-

   senior
   unsecured        LT     BB-  New Rating   RR4

   senior
   unsecured        LT     BB-  Affirmed     RR4       BB-

AmeriGas Partners,
L.P.                LT IDR BB-  Affirmed               BB-

   senior
   unsecured        LT     BB-  New Rating   RR4

   senior
   unsecured        LT     BB-  Affirmed     RR4       BB-


ATHENEX INC: Court Approves Stock Transfer Protocol
---------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Texas,
having jurisdiction over the Chapter 11 cases of Athenex Inc. and
its debtor-affiliates, entered an order establishing procedures
with respect to transfers in the beneficial ownership of, and
claiming a worthless stock deduction with respect to the beneficial
ownership of, stock of the Debtors and options to acquire
beneficial ownership of ATNX stock.

In certain circumstances, the procedures restrict transactions
involving, and require notices of the holdings of and proposed
transactions by, any person group of persons, or entity that either
(i) is a substantial stockholder of ATNX stock or (ii) as a result
of such a transaction, would become a substantial stockholder of
ATNX stock or (iii) claims by any majority holder of a worthless
stock deduction under section 165 of the Internal Revenue Code with
respect to the beneficial ownership of ATNX stock.

For purpose of the stock procedures, a "substantial stock holder"
is any person or entity that beneficially owns at least 413,903
shares of ATNX stock, or and a "majority holder" shall mean any
person that either (i) beneficially owned at any time since Dec.
31, 2019 at least 1,743,882 shares of ATNX stock, or (ii) would be
a "50% shareholder" of ATNX stock if such person claims a worthless
stock deduction on its federal income tax return at any time on or
after the petition date.

The stock procedures, are available on the website of the Debtors'
claims agent, Epiq Corporate Restructuring LLC located at
https://dm.epiq11.com/athenex, and also on the docket of the
Chapter 11 cases, docket no. 23-90259 (DRJ), which can be access
via PACER at https://www.pacer.gov.

A hearing to consider the claims procedures will be held on June
15, 2023, at 11:00 a.m. (Central Time) and any objections or
responses must be filed no later than 4:00 p.m. on June 9, 2023.

                       About Athenex Inc.

Founded in 2003, Athenex, Inc. (NASDAQ: ATNX) --
http://www.athenex.com/-- is a clinical-stage biopharmaceutical  
company dedicated to becoming a leader in the discovery,
development, and commercialization of next-generation cell therapy
products for the treatment of cancer. The Company's mission is to
become a leader in bringing innovative cancer treatments to the
market and to improve patient health outcomes. In pursuit of this
mission, Athenex leverages years of experience in research and
development, clinical trials, regulatory standards, and
manufacturing.  The Company is focused on its innovative Cell
Therapy platform, based on natural killer T ("NKT") cells.


AULT ALLIANCE: Declares Monthly Cash Dividend of $0.2708333 Apiece
------------------------------------------------------------------
Ault Alliance, Inc. announced that its Board of Directors has
declared a monthly cash dividend of $0.2708333 per share of the
Company's outstanding 13.00% Series D Cumulative Redeemable
Perpetual Preferred Stock.  The record date for this dividend is
May 31, 2023, and the payment date is June 12, 2023.

Link to NYSE quote for the Company's 13.00% Series D Cumulative
Redeemable Perpetual Preferred Stock:
https://www.nyse.com/quote/XASE:AULTpD

                        About Ault Alliance Inc.

Ault Alliance, Inc. (formerly, BitNile Holdings, Inc.) is a
diversified holding company pursuing growth by acquiring
undervalued businesses and disruptive technologies with a global
impact. Through its wholly and majority-owned subsidiaries and
strategic investments, Ault Alliance owns and operates a data
center at which it mines Bitcoin and provides mission-critical
products that support a diverse range of industries, including oil
exploration, crane services, defense/aerospace, industrial,
automotive, medical/biopharma, consumer electronics, hotel
operations and textiles. In addition, Ault Alliance extends credit
to select entrepreneurial businesses through a licensed lending
subsidiary.  Ault Alliance's headquarters are located at 11411
Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141;
www.Ault.com.

Ault Alliance reported a net loss of $189.83 million for the year
ended Dec. 31, 2022, compared to a net loss of $23.04 million for
the year ended Dec. 31, 2021. As of Dec. 31, 2022, the Company had
$561.51 million in total assets, $219.53 million in total
liabilities, $117.99 million in redeemable noncontrolling interests
in equity of subsidiaries, and $223.99 million in total
stockholders' equity.

New York, New York-based Marcum LLP, the Company's auditor since
2016, issued a "going concern" qualification in its report dated
April 17, 2023, citing that the Company has a working capital
deficiency, has incurred net losses and needs to raise additional
funds to meet its obligations and sustain its operations. These
conditions raise substantial doubt about the Company's ability to
continue as a going concern.


BED BATH & BEYOND: S&P Discontinues All Ratings
-----------------------------------------------
S&P Global Ratings discontinued all of its ratings on specialty
retailer Bed Bath & Beyond Inc. (D/--). This follows its downgrade
of the company to 'D' upon its Chapter 11 bankruptcy filing in
April 2023.



BERGIO INTERNATIONAL: Incurs $982K Net Loss in First Quarter
------------------------------------------------------------
Bergio International, Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
of $981,975 on $1.39 million of total net revenues for the three
months ended March 31, 2023, compared to a net loss of $2.08
million on $2.09 million of total net revenues for the three months
ended March 31, 2022.

As of March 31, 2023, the Company had $9.21 million in total
assets, $5.25 million in total liabilities, $317,000 in preferred
stock, and $3.64 million in total stockholders' equity.

The Company had a net loss attributable to Bergio International,
Inc. and cash used in operations of $667,055 and $656,496,
respectively, for the three months ended March 31, 2023.
Additionally, the Company had an accumulated deficit of
approximately $20,283,316 million and working capital deficit of
$1,753,346 at March 31, 2023.  The Company said these factors raise
substantial doubt about its ability to continue as a going concern
for a period of twelve months from the issuance date of this
report.

Bergio stated, "Management cannot provide assurance that the
Company will ultimately achieve profitable operations or become
cash flow positive or raise additional capital pursuant to debt or
equity financings.  The Company may seek to raise additional
capital through additional debt and/or equity financings to fund
its operations in the future; however, no assurance can be provided
that the Company will be able to raise additional capital on
favorable terms, or at all.  If the Company is unable to raise
additional capital or secure additional lending in the future to
fund its business plan, the Company may need to curtail or cease
its operations."

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/1431074/000139390523000229/brgo-20230331.htm

                        About Bergio International

Based in Fairfield, New Jersey, Bergio International, Inc. --
www.bergio.com -- designs, manufactures, and retails, jewelry
products.

Bergio International reported a net loss of $3.26 million for the
year ended Dec. 31, 2022, compared to a net loss of $3.56 million
for the year ended Dec. 31, 2021.  As of Dec. 31, 2022, the Company
had $9.47 million in total assets, $4.52 million in total
liabilities, and $4.95 million in total stockholders' equity.

Lakewood, CO-based BF Borgers CPA PC, the Company's auditor since
2019, issued a "going concern" qualification in its report dated
March 30, 2023, citing that the Company's significant operating
losses raise substantial doubt about its ability to continue as a
going concern.


BIGHORN RESTAURANTS: Taps Hutchinson as Special Counsel
-------------------------------------------------------
Bighorn Restaurants, LLC and affiliates seek approval from the U.S.
Bankruptcy Court for the District of Colorado to hire Hutchinson
Black and Cook, LLC as their special counsel.

The Debtors require legal assistance in general corporate matters
and transactional issues, including negotiations and modifications
of leases and other contracts, that may arise with respect to their
business operations.

The hourly fees to be charged by the firm's attorney and legal
assistant are:

     Justin Konrad, Esq.                  $450
     Marianne Clanton, Legal Assistant    $150

The firm received a retainer in the amount of $20,000.

As disclosed in court filings, Hutchinson is a "disinterested
person," pursuant to Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Justin Konrad, Esq.
     Hutchinson Black and Cook, LLC
     921 Walnut St #200
     Boulder, CO 80302
     Phone: +1 303-442-6514
     Email: justin.konrad@hbcboulder.com

                     About Bighorn Restaurants

Bighorn Restaurants, LLC and affiliates constitute one of the
largest current franchisees of Hardee's restaurants. They
currently
operate 108 restaurants, which span the states of Alabama, Florida,
Georgia, South Carolina, Kansas, Missouri, Wyoming and Montana. The
restaurants are operated by Empire, Heartland, Bighorn, and
Atlantic Star.

Bighorn Restaurants and its affiliates sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Colo. Lead Case
No. 23-11919) on May 4, 2023. In the petition signed by its chief
executive officer, Dewey R. Brown, Bighorn Restaurants disclosed $1
million to $10 million in assets and $10 million to $50 million in
liabilities.

Judge Michael E. Romero oversees the cases.

The Debtors tapped Markus Williams Young & Hunsicker, LLC as legal
counsel; MorrisAnderson & Associates, Ltd. as financial advisor;
and Brookwood Associates, LLC as investment banker; and BMC Group,
Inc. as noticing agent.

Cadence Bank, as lender, is represented by Frank W. DeBorde, Esq.,
and Lisa Wolgast, Esq., at Morris, Manning & Martin, LLP.


CELSIUS NETWORK: Taps KE Andrews as Property Tax Services Provider
------------------------------------------------------------------
Celsius Network, LLC and its affiliates seek approval from the U.S.
Bankruptcy Court for the Southern District of New York to hire Mark
Andrews & Company, doing business as KE Andrews.

The firm will render these property tax services:

     A. Tax Compliance Services

        a. 2022 Tax Year Services

           i. Compliance: Attendance of physical on-site
inspections, preparation and filing of business personal property
returns.

          ii. Tax Savings and Reductions: Reviewing assessments for
correctness and fairness, preparation and filing of appeals,
meeting informally with assessors for assessment negotiations,
attending the formal Appraisal Review Board or Board of
Equalization when necessary.

         iii. Administrative: Preparing accruals and budgeting;
gathering, verifying and processing of property tax statements for
timely payment by client.

          iv. The service will be limited to the three states and
four locations.

        b. 2023 Tax Year Services
               
           i. Compliance: Attendance of physical on-site
inspections, preparation and filing of business personal property
returns.

          ii. Tax Savings and Reductions: reviewing assessments for
correctness and fairness, preparation and filing of appeals,
meeting informally with assessors for assessment negotiations,
attending the formal Appraisal Review Board or Board of
Equalization when necessary.

         iii. Administrative: preparing accruals and budgeting;
gathering, verifying and processing of property tax statements for
timely payment by client.

          iv. The service will be limited to the four states and 16
locations.

The firm will charge a fixed fee of $75,000 for services related to
the 2022 tax year and $300,000 for services related to the 2023 tax
year. This reflects a flat fee of $25,000 per location for the 12
locations where the Debtors' assets are stored, with the fee being
split into two equal amounts of $12,500 for locations where the
Debtors' assets are kept in two separate batches.

As disclosed in court filings, Mark Andrews & Company is a
"disinterested person" pursuant to Section 101(14) of the
Bankruptcy Code.

The firm can be reached through:

     Ben Thompson
     Mark Andrews & Company
     dba KE Andrews
     2424 Ridge Rd.
     Rockwall, TX 75087
     Phone: 469-298-1594
     Email: contact@keatax.com

                       About Celsius Network

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

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

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

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

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

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

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

The Debtors tapped Kirkland & Ellis, LLP and Kirkland & Ellis
International, LLP as bankruptcy counsels; Fischer (FBC & Co.) as
special counsel; Centerview Partners, LLC as investment banker; and
Alvarez & Marsal North America, LLC as financial advisor. Stretto
is the claims agent and administrative advisor.

On July 27, 2022, the U.S. Trustee appointed an official committee
of unsecured creditors. The committee tapped White & Case, LLP as
its bankruptcy counsel; Elementus Inc. as its blockchain forensics
advisor; M3 Advisory Partners, LP as its financial advisor; and
Perella Weinberg Partners, LP as its investment banker.

Shoba Pillay, Esq., is the examiner appointed in the Debtors'
Chapter 11 cases. Jenner & Block, LLP and Huron Consulting
Services, LLC serve as the examiner's legal counsel and financial
advisor, respectively.


CELSIUS NETWORK: UK Affiliate Taps Andersen as Tax Service Provider
-------------------------------------------------------------------
Celsius Network Limited, a U.K. affiliate of Celsius Network, LLC,
seeks approval from the U.S. Bankruptcy Court for the Southern
District of New York to hire Andersen, LLP.

The firm's services include:

     A. U.K. Tax Compliance Services

        a. Handover process with Mazars.

           (i) Andersen will coordinate with Mazars, previous tax
advisor of Celsius Network Limited, to transition services to
Andersen so as to best provide tax services to the Debtors.

          (ii) The services provided by Andersen to the Debtors
concern separate issues to those handled by Mazars, so duplication
of efforts is highly unlikely.

         (iii) Andersen will, where possible, work to avoid any
duplication of efforts already undertaken by Mazars.

        b. Review of expenses for 2021 tax return.

           (i) Andersen will review Celsius Network Limited's
expenses for the purpose of filing their corporate tax return.

        c. Completion and filing of Corporation Tax return for
2021.

           (i) Andersen shall advise Celsius Network Limited on the
amount of UK corporation tax that should be paid.

          (ii) Andersen will advise Celsius Network Limited of any
necessary claims or elections relevant for company tax returns,
based on the information Andersen receives from Celsius Network
Limited.

         (iii) Andersen shall also advise Celsius Network Limited
of any additional payments if Andersen anticipates that the final
UK corporation tax liability is likely to exceed the amounts paid
or liaise with Celsius Network Limited as to how it would like to
deal with any overpayment.

        d. Review and completion of VAT registration process as
commenced by Mazars.

           (i) Andersen will advise Celsius Network Limited as to
the necessary steps to be taken to ensure registration within the
UK VAT tax regime.

          (ii) Andersen will advise Celsius Network Limited as to
any pending liability for VAT tax and any other items necessary for
compliance with the UK VAT tax regime.

        e. Ad hoc consultancy.

           (i) Andersen will provide to Celsius Network Limited
advice regarding UK direct taxes, including corporation tax, UK
income tax (such as the obligation to withhold tax on annual
interest payments), and UK indirect taxes, including, but not
limited to, support in responding to information requests from
Celsius Network Limited's appointed lawyers, in relation to Celsius
Network Limited's proposed restructuring for Chapter 11 purposes.

          (ii) Andersen may provide general tax advice and
recurring tax advisory services as well as tax advice on specific
projects regarding Celsius Network Limited's tax affairs.  

The firm will be paid at these rates:

                           Hourly Rate    Hourly Rate
                             (GBP)          (US$)
     Partner               895 - 940     1,112 - 1168
     Technical Director       820            1,019
     Director                 695              863
     Senior Manager           610              758
     Manager                  525              652
     Senior                   435              540
     Assistant                290              360

Andersen will apply a 15 percent discount to its current hourly
rates.

As disclosed in court filings, Andersen is a "disinterested person"
pursuant to Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Zoe Wyatt
     Andersen LLP
     80 Coleman Street
     London
     EC2R 5BJ
     Tel: +44 (0)20 7242 5000
     Fax: +44 (0)20 7282 4337
     Email: zoe.wyatt@uk.Andersen.com

                       About Celsius Network

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

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

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

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

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

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

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

The Debtors tapped Kirkland & Ellis, LLP and Kirkland & Ellis
International, LLP as bankruptcy counsels; Fischer (FBC & Co.) as
special counsel; Centerview Partners, LLC as investment banker; and
Alvarez & Marsal North America, LLC as financial advisor. Stretto
is the claims agent and administrative advisor.

On July 27, 2022, the U.S. Trustee appointed an official committee
of unsecured creditors. The committee tapped White & Case, LLP as
its bankruptcy counsel; Elementus Inc. as its blockchain forensics
advisor; M3 Advisory Partners, LP as its financial advisor; and
Perella Weinberg Partners, LP as its investment banker.

Shoba Pillay, Esq., is the examiner appointed in the Debtors'
Chapter 11 cases. Jenner & Block, LLP and Huron Consulting
Services, LLC serve as the examiner's legal counsel and financial
advisor, respectively.


CENPORTS COMMERCE: Bid to Use Cash Collateral Denied
----------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
denied, without prejudice, the motion to use cash collateral filed
by Cenports Commerce Inc.

The Debtor sought authorization to use the cash collateral of the
secured creditors identified in the motion.

As previously reported by the Troubled Company Reporter, the
secured creditors are Fundbox, the U.S. Small Business
Administration, Payability, Cedar Advance, Wolters Kiuwer Lien
Solutions, Swift Financial, Toyota Industrial Commercial Finance,
Arc Technologies, Inc., Wynwest Advance, Uptown Fund LLC, Halo T
LLC, PIRS Capital, LLC, Vernon Capital, Unique Funding Solutions,
and Webfund.

A copy of the order is available at https://urlcurt.com/u?l=uP6o7n
from PacerMonitor.com.

                   About Cenports Commerce Inc.

Cenports Commerce Inc. is a B2B drop shopping (virtual
distribution) company that helps brands sell products online to
HomeDepot, Lowes, etc. under their own account.  The Company has no
inventory and uses internal tools to help retailers.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Cal. Case No. 23-40478) on April 25,
2023. In the petition signed by Derrick Chen, as CEO of Censports
Commerce Holding Inc., the Debtor's shareholder, the Debtor
disclosed $212,973 in assets and $7,391,240 in liabilities.

Judge Charles Novack oversees the case.

Michael Jay Berger, Esq., at the Law Offices of Michael Jay Berger,
represents the Debtor as legal counsel.



CFN ENTERPRISES: Delays Filing of March 31 Quarterly Report
-----------------------------------------------------------
CFN Enterprises Inc. filed a Notification of Late Filing on Form
12b-25 with the Securities and Exchange Commission with respect to
its Quarterly Report on Form 10-Q for the period ended March 31,
2023.  

The Company has determined that it is unable to file the Report
within the prescribed time period without unreasonable effort or
expense.  Additional time is necessary as the Company is still
working on the completion of the financial statements for the
period ended March 31, 2023.

The Company currently expects to file the Report within the
five-calendar day extension period provided by Rule 12b-25.

                          About CFN Enterprises Inc.

CFN Enterprises Inc. owns and operates CNP Operating, a
cannabidiol, or CBD, manufacturer vertically integrated with a 360
degree approach to the processing of high quality CBD products
designed for growers, pharmaceutical, wellness providers, and
retailers' needs, and a cannabis industry focused sponsored content
and marketing business.  The Company's ongoing operations currently
consist primarily of CNP Operating and the CFN Business and it will
continue to pursue strategic transactions and opportunities. The
Company is currently in the process of launching an e-commerce
network focused on the sale of general wellness CBD products.

CFN Enterprises reported a net loss of $9.92 million for the year
ended Dec. 31, 2022, compared to a net loss of $12.20 million for
the year ended Dec. 31, 2021.  As of Dec. 31, 2022, the Company had
$870,551 in total assets, $10.04 million in total liabilities, and
a total stockholders' deficit of $9.17 million.

New York, NY-based RBSM LLP, the Company's auditor since 2012,
issued a "going concern" qualification in its report dated April
17, 2023, citing that the Company has suffered recurring losses
from operations and will require additional capital to continue as
a going concern.  This raises substantial doubt about the Company's
ability to continue as a going concern.


CHEMOURS CO: S&P Alters Outlook to Stable, Affirms 'BB' ICR
-----------------------------------------------------------
S&P Global Ratings revised its outlook on The Chemours Co. to
stable from positive and affirmed its 'BB' issuer credit rating. At
the same time, S&P affirmed all existing issue-level ratings.

The stable outlook reflects S&P's view that it expects Chemours'
credit metrics to be appropriate for the rating over the next two
years.

The outlook revision and rating affirmation incorporates S&P's
revised view of operating performance in 2023.

S&P said, "We believe the company's credit metrics will be
appropriate for the ratings despite prospects for weaker than
previously anticipated earnings this year. However, we no longer
expect credit metrics to be strong at the rating. Our outlook for
the year also ties in with Chemours' latest 2023 guidance
reflecting anticipated weakness in its titanium technologies (TT)
segment due to a decrease in sales volumes and lower fixed-cost
absorption. We expect EBITDA levels and margins for the whole
company to slightly weaken this year as macroeconomic demand
remains uncertain and raw material cost inflation persists at least
in the first half of the year. We expect the combined earnings from
its three major businesses (e.g., TT, thermal and specialized
solutions [TSS], and advanced performance materials [APM]) will
decline by a low single-digit percent in 2023. However, even with
the lowered expectations for 2023 we still anticipate metrics will
be appropriate for the rating. Specifically, we now anticipate that
Chemours' funds from operations (FFO) to total debt will be in the
mid- to high-20% range over the next two years on a
weighted-average basis. Despite our view that titanium dioxide
(TiO2) is cyclical in nature, we anticipate future credit metrics
will remain appropriate due to the long-term secular growth trends
happening in the company's TSS and APM segments."

The stable outlook does not factor in potential increases in
environmental liabilities beyond those already provided for by the
company.

In January 2021, Chemours, DuPont, Corteva, and EI du Pont de
Nemours & Co. (EID), a subsidiary of Corteva, entered into a
binding memorandum of understanding, reflecting the parties'
agreement to share potential future legacy liabilities relating to
per- and polyfluoroalkyl substances (PFAS) arising out of pre-July
2015 conduct. The agreement provides a framework under which
Chemours is responsible for 50% of potential liabilities for 20
years or $4 billion, whichever is sooner. In 2022, the company had
accumulated approximately $200 million in an escrow account and
plans to place an additional $300 million in the account over the
next six years to cover any associated settlements. S&P said, "We
believe the escrow account will be more than sufficient to cover
any potential settlements and we do not anticipate any increase in
these liabilities within the next 12 months. We believe the sharing
agreement with Dupont and Corteva benefits Chemours and therefore
we view it as positive for credit quality, relative to our previous
expectations."

S&P's assessment of Chemours' business risk profile incorporates
its view of its strengths.

The company's strengths include its competitive advantages and the
market-leading positions of its key products in the TT, TSS, and
APM businesses. In particular, Chemours' large scale, low-cost
position, and technological strengths relative to other TiO2
players contribute to its market leadership position. The large
scale of the company's plants and its technological capabilities
enable it to use a variety of inputs that contribute to its
low-cost position. For example, Chemours produces TiO2 using the
chloride process, which generally creates a superior, higher-value
product than the alternate sulfate process.

S&P's assessment of the company's business risk profile also
incorporates its key risks.

Chief among these is the potential for volatility in its adjusted
EBITDA stemming from its exposure to a competitive commodity
product. S&P said, "However, with the significant size of its APM
and TSS segments, which now account for more than 50% of the
business, we believe the increased diversity in its earning sources
has somewhat limited this exposure. The demand for its products is
linked to GDP growth and is susceptible to declines during economic
downturns. We believe Chemours' earnings and margins from its
businesses other than TiO2 are good but not significant enough to
fully offset this volatility. We view the company as positioned at
the lower end of the range relative to other companies that we
assess as having satisfactory business risk profiles. For instance,
we view Chemours as relatively weaker than similarly rated peers,
such as Olin Corp."

S&P said, "The stable outlook on Chemours reflects our expectation
for stable earnings and credit metrics over the next year.
Specifically, we project that the company's weighted average FFO to
debt will be in the mid- to high-20% area. We base these
assumptions on our belief that the level of demand in most of its
end markets in the U.S., Europe, and China will remain steady
despite and ongoing supply chain issues. In addition, we factor in
Chemours' known environmental and contingent liabilities and do
not--at this point--assume any sizable increase in these
liabilities beyond those provided. We also do not assume any
acquisitions, debt-funded shareholder rewards, or the sale of any
significant businesses in our base case.

"We could lower our ratings on Chemours within the next year if we
expect its weighted-average FFO to debt to drop below 20% without a
near-term remedy. This could occur if its earnings decline
significantly in 2023 due to raw material shortages or continued
supply chain issues that cause its margins to fall by more than 200
basis points (bps). The company's metrics could weaken if it faces
rising pricing pressure due to falling demand in its end markets.
We could also lower our rating if it becomes apparent that
Chemours' current provisions and accruals for contingent
liabilities are insufficient and it will likely need to increase
them substantially.

"We will consider raising our ratings on Chemours within the next
year if it outperforms our expectations of its three major business
segments above our projections and follows through on its announced
debt reduction program. Under this scenario, we expect the
company's FFO to total debt to remain above 30%. Furthermore, we
would anticipate its adjusted EBITDA margins to stay in the low- to
mid-20% area. However, we would also consider the volatility of its
earnings from the TiO2 business and assess the sustainability of
any improvements before undertaking a positive rating action. We
will review the potential for any credit risks related to new
environmental issues or an increase in risk related to current
issues before considering an upgrade."

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

S&P said, "Environmental, social, and governance factors are a
moderately negative consideration in our credit rating analysis of
The Chemours Co., which produces commodity chemicals including
titanium dioxide, but also some specialty chemicals. The
asset-intensive nature of commodity chemical production lends
itself to scrutiny and regulations related to carbon dioxide
emissions, waste, and pollution. Chemours' exposure to titanium
dioxide could result in some vulnerability to greater regulatory or
customer scrutiny resulting potentially in some constraints on
growth rates, or profitability in the future. The company inherited
from a predecessor company's legacy environmental and social issues
related to PFOA, which continues to attract consumer and regulatory
scrutiny. Although the company has partly mitigated some risks
through an agreement with DuPont de Nemours and Corteva, risks
remain. In addition, the company has at times received negative
attention on these issues, with implications for reputational
risk."



CHRISHULSERSELLSHOMES: Court OKs Cash Collateral Access
-------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Alabama,
Northern Division, authorized ChrisHulserSellsHomes, Inc. to use
cash collateral on an interim basis in accordance with the budget.

The cash collateral may be subject to the interests of Headway
Capital, Navitas Credit Corp, Rapid Finance, Cloud Fund LLC, and
Forward Financing, LLC.

As adequate protection, the creditors are granted replacement liens
for any such prepetition lien to the extent of prepetition cash
collateral, in the priority of perfection that might prime the
Debtor's hypothetical lien.

A copy of the order is available at https://urlcurt.com/u?l=qtusPW
from PacerMonitor.com.

                 About ChrisHulserSellsHomes, Inc.

ChrisHulserSellsHomes, Inc. is an Alabama corporation with its
principal place of business at 1896 Slaughter Road, Suite F,
Madison, AL 35758. ChrisHulserSellsHomes provides real estate
brokerage services in the North Alabama area.

ChrisHulserSellsHomes sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. N.D. Ala. Case No. 23-80858) on May
10, 2023. In the petition signed by Christopher W. Hulser, its
president and owner, the Debtor disclosed up to $50,000 in assets
and up to $1 million in liabilities.

Judge Clifton R. Jessup, Jr. oversees the case.

Stuart M. Maples, Esq., is the Debtor's bankruptcy attorney.



CREDIT ACCEPTANCE: Moody's Affirms 'Ba3' CFR, Outlook Stable
------------------------------------------------------------
Moody's Investors Service has affirmed the Ba3 long-term corporate
family rating and senior unsecured debt rating of Credit Acceptance
Corporation (CAC). The rating outlook is stable.

RATINGS RATIONALE

The ratings affirmation reflects Moody's unchanged view of CAC's
credit profile, which is supported by the firm's strong earnings,
modest leverage, solid liquidity, and long track record operating
in the subprime consumer auto lending market. The ratings also
reflect the risk inherent in lending to consumers with weak credit
profiles, the uncertain macroeconomic environment, and a high
degree of regulatory risk.

CAC has reported strong, albeit reduced earnings in recent periods.
The firm reported a ratio of net income to average managed assets
(NI/AMA) of 5.7% for the first quarter of 2023, compared to 12.7%
for the same period last year. The difference was largely driven by
a positive revision to net forecasted cash flows in the first
quarter of 2022 and the slower expected realization of cash flows
recognized during the first quarter of 2023, which in turn drove a
higher provision expense. Nevertheless, the firm remains highly
profitable, among the more profitable rated finance companies in
the United States. Historically, the firm has posted NI/AMA in the
range of 8-10% and Moody's expects the firm to trend towards these
levels over time.

CAC's capitalization as measured by tangible common equity to
tangible managed assets (TCE/TMA) has also declined from 30% at
December 31, 2020 to 24% at March 31, 2023. Nevertheless, the firm
maintains a significant amount of loss absorbing capital, including
CECL reserves, above most other similarly rated US finance company
peers. Moody's expects some asset quality deterioration in 2023 as
Moody's baseline expectation is that the US will enter a modest
recession in the second half of the year. However, the firm's
earnings, capital and reserves are sufficient to absorb even a
higher level of deterioration than Moody's baseline.

CAC is currently the subject of a lawsuit by the Consumer Finance
Protection Bureau (CFPB) and the New York State Attorney General
(NY AG) regarding the firm's origination and underwriting practices
in New York. Among other things, the plaintiffs allege that CAC's
practice of purchasing consumer auto loans at a discount to their
original value from dealers amounts to a "hidden finance charge,"
thereby circumventing the state's usury laws. Discounting is a
common practice across the non-prime auto lending industry and a
ruling in favor of the plaintiffs would likely have repercussions
not only for CAC, but for other industry participants as well.
Moody's cannot at this time assess how this matter will be
ultimately settled, but an adverse ruling for CAC would be credit
negative and would likely negatively impact the ratings of the
firm.

The stable outlook reflects Moody's expectation that CAC will
maintain strong earnings, modest leverage and strong liquidity over
the next 12-18 months.

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

Given the pending resolution of the lawsuit by the CFPB and the NY
AG, an upgrade is unlikely at this time. Over time and absent a
significantly adverse outcome from that case, CAC's ratings could
be upgraded if the firm is able to maintain its competitive
position in the US subprime auto lending market and demonstrate
stable asset quality, particularly with respect to its growing
purchased loan program, while maintaining strong profitability and
debt to equity at or below 2.5x (on a CECL-adjusted basis).

CAC's ratings could be downgraded if debt to equity increases above
3.0x (on a CECL-adjusted basis), or if profitability falls and
remains below 6% as measured by NI/AMA or if asset quality
deteriorates. CAC's senior unsecured debt ratings could also be
downgraded if the proportion of senior unsecured debt relative to
recourse secured debt were to decline, increasing the risk of
losses for these creditors due to lower protection from reduced
debt volume. The ratings could also be downgraded if the firm is
subject to significantly adverse legal or regulatory rulings.

The principal methodology used in these ratings was Finance
Companies Methodology published in November 2019.


CUENTAS INC: Incurs $1.7 Million Net Loss in First Quarter
----------------------------------------------------------
Cuentas, Inc. filed with the Securities and Exchange Commission its
Quarterly Report on Form 10-Q disclosing a net loss of $1.69
million on $64,000 of revenue for the three months ended March 31,
2023, compared to a net loss of $3.62 million on $394,000 of
revenue for the three months ended March 31, 2022.

As of March 31, 2023, the Company had $5.19 million in total
assets, $2.31 million in total liabilities, and $2.88 million in
total stockholders' equity.

As of March 31, 2023, the Company had approximately $3,328,000 in
cash and cash equivalents, approximately $1,468,000 in working
capital, shareholder equity of $2,879,000 and an accumulated
deficit of approximately $54,445,000.

Cuentas stated, "These conditions raise substantial doubt about the
Company's ability to continue as a going concern.  Company's
ability to continue as a going concern is dependent upon raising
capital from financing transactions and revenue from operations.
Management anticipates their business will require substantial
additional investments that have not yet been secured.  Management
is continuing in the process of fund raising in the private equity
and capital markets as the Company will need to finance future
activities."

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/1424657/000121390023039889/f10q0323_cuentasinc.htm

                           About Cuentas

Headquartered in Miami, Florida, Cuentas, Inc. --
http://www.cuentas.com-- currently focuses on the business of
using proprietary fintech technology to provide e-banking and
e-commerce services for delivering mobile banking, prepaid debit
and digital content services to the unbanked, underbanked and
underserved Latino, Hispanic and immigrant communities. The
Company's proprietary software platform enables Cuentas to offer
comprehensive financial services and robust functionality that is
absent from other Mobile Apps through the use of its Prepaid Debit
Mastercard/General-Purpose Reloadable cards.

Cuentas reported a net loss attributable to the company of $14.53
million in 2022, a net loss attributable to the company of $10.73
million in 2021, a net loss attributable to the company of $8.10
million in 2020, a net loss attributable to the company of $1.32
million in 2019, and a net loss of $3.56 million in 2018. As of
Dec. 31, 2022, the Company had $1.50 million in total assets, $2.22
million in total liabilities, and a total stockholders' deficit of
$724,000.

Tel-Aviv, Israel-based Yarel + Partners, Certified Public
Accountants (Isr.), the Company's auditor since 2023, issued a
"going concern" qualification in its report dated March 31, 2023,
citing that the Company has incurred net losses since its
inception, and has not yet generated sufficient revenues to support
its operations.  As of Dec. 31, 2022, there is an accumulated
deficit of $52,750,000.  These conditions, along with other
matters, raise substantial doubt about the Company's ability to
continue as a going concern.


CURO GROUP: S&P Upgrades ICR to 'CCC+'; Outlook Negative
--------------------------------------------------------
S&P Global Ratings said it raised its issuer credit rating on Curo
Group Holdings Corp. to 'CCC+' from 'SD'. The outlook is negative.

S&P said, "We also assigned our 'CCC' issue rating to the company's
new $682.3 million senior 1.5-lien secured notes due Aug. 1, 2028.
At the same time, we raised our issue rating on the company's
remaining $317.7 million junior secured notes due Aug. 1, 2028, to
'CCC-' from 'D'."

Curo completed a debt exchange on May 15, 2023, exchanging $682.3
million of its senior secured notes due Aug. 1, 2028, with $682.3
million of senior 1.5-lien secured notes due Aug. 1, 2028. S&P
Global Ratings viewed this as a distressed exchange and lowered the
rating on the company to 'SD' on May 18.

S&P said, "While the debt exchange improved Curo's liquidity by
over $100 million, we expect the company to continue generating
negative net income in 2023.We take a balanced view of the
company's debt restructuring. Curo was able to address its
liquidity needs, but it added debt with higher interest rates to
its capital structure. The company generated negative net income in
recent quarters, and high interest rates on the new $150 million
credit facility and C$110 million nonrecourse revolving warehouse
facility will further elevate interest expenses. In addition,
Curo's direct lending segment has experienced higher net
charge-offs quarter over quarter since third-quarter 2022 (though
declining delinquency trends in first-quarter 2023 could imply
stabilizing asset quality).

"We think Curo could have difficulty maintaining cushions to
covenants. The new debt has a minimum liquidity covenant of $75
million from May 31, 2023, to Sept. 30, 2024, and the company's
cushion to this covenant could be eroded by the difficult operating
environment or by any weakening in asset quality. A covenant breach
could result in an event of default under Curo's debt agreements
and lead to debt acceleration. Pro forma unrestricted cash is $195
million, below what we expect for 2023 interest expense (over $250
million).

"Regulatory risk remains significant. Curo has reduced its
regulatory risk in the U.S. through transformational acquisitions
and sales in 2021 and 2022. However, on March 28, 2023, the
Canadian government announced its plan to reduce the maximum
allowable rate of interest on consumer loans to an annual
percentage rate (APR) of 35%. While we currently do not have much
clarity on the timing and impact of this regulation, we think it
could materially hurt Curo's direct lending segment in Canada,
since the majority of those loans have APRs of over 35%.

"We rate Curo's senior 1.5-lien secured notes and its junior
secured notes one and two notches, respectively, below the issuer
credit rating. The one-notch difference between the issuer credit
rating and the rating on the senior 1.5-lien secured notes reflects
our view that Curo has less unencumbered assets than the amount of
1.5-lien notes outstanding, after deducting assets pledged to
nonrecourse secured debt. The two-notch difference between the
issuer credit rating and the rating on the junior secured notes
reflects our view that priority debt (that is, any draws on the
recourse credit facility and the 1.5-lien notes) is above 30% of
adjusted assets, and unencumbered assets are significantly less
than the amount of junior secured notes outstanding.

"The negative outlook reflects our expectation that, over the next
12 months, the difficult macroeconomic environment and high
interest rates could pressure the company's operations and
liquidity such that it struggles with maintaining adequate covenant
cushions. The negative outlook also considers the potential impact
of the announced Canada federal regulation on Curo's Canadian
direct lending segment."

S&P could lower the ratings over the next 12 months if:

-- S&P believes Curo's liquidity is deteriorating materially;

-- Covenant cushions meaningfully erode;

-- Regulatory changes significantly impede the company's operating
performance; or

-- The company executes exchange offers or debt restructurings
that S&P would view as distressed.

S&P said, "We could revise the outlook to stable over the next 12
months if we think Curo will maintain sufficient covenant cushion
and liquidity on a sustained basis. The outlook revision is also
contingent on us believing that the new Canada federal regulation
will have a manageable impact on Curo's direct lending
operations."

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



DMCC 450 CHARLES: Case Summary & Four Unsecured Creditors
---------------------------------------------------------
Debtor: DMCC 450 Charles Court, LLC
        234 N. Westmonte Drive, Suite 3000
        Altamonte Springs, FL 32714

Case No.: 23-01977

Chapter 11 Petition Date: May 23, 2023

Court: United States Bankruptcy Court
       Middle District of Florida

Debtor's Counsel: Justin M. Luna, Esq.
                  LATHAM LUNA EDEN & BEAUDINE LLP
                  201 S. Orange Avenue
                  Suite 1400
                  Orlando, FL 32801
                  Tel: (407) 481-5800
                  Fax: (407) 481-5801
                  Email: jluna@lathamluna.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Pradeep Matharoo as president.

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

https://www.pacermonitor.com/view/QCS55PA/DMCC_450_Charles_Court_LLC__flmbke-23-01977__0001.0.pdf?mcid=tGE4TAMA


ESCALON MEDICAL: Posts $585K Net Income in Third Quarter
--------------------------------------------------------
Escalon Medical Corp. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing net income
of $585,235 on $3.43 million of net revenues for the three months
ended March 31, 2023, compared to a net loss of $296,016 on $2.42
million of net revenues for the three months ended March 31, 2022.

For the nine months ended March 31, 2023, the Company reported net
income of $258,468 on $9.04 million of net revenues compared to a
net loss of $31,950 on $7.79 million of net revenues for the nine
months ended March 31, 2022.

As of March 31, 2023, the Company had $5.12 million in total
assets, $3.38 million in total liabilities, and $1.74 million in
total shareholders' equity.

Escalon said, "To date, the Company's operations have not generated
sufficient revenues to enable consistent profitability.  As of
March 31, 2023, the Company had an accumulated deficit of $68.6
million, and historically incurred recurring losses from operations
and incurred negative cash flows from operating activities.  These
factors raise substantial doubt regarding the Company's ability to
continue as a going concern for the next 12 months following the
issuance of these unaudited condensed consolidated financial
statements."

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/862668/000086266823000016/esmc-20230331.htm

                            About Escalon

Headquartered in Wayne, Pennsylvania, Escalon Medical Corp.
operates in the healthcare market, specializing in the development,
manufacture, marketing and distribution of medical devices for
ophthalmic applications.

Escalon reported net income of $18,081 for the year ended June 30,
2022, compared to a net loss of $52,023 for the year ended June 30,
2021.  As of Sept. 30, 2022, the Company had $4.93 million in total
assets, $3.77 million in total liabilities, and $1.16 million in
total shareholders' equity.

Marlton, New Jersey-based Friedman LLP, the Company's auditor since
2018, issued a "going concern" qualification in its report dated
Sept. 28, 2022, citing that the Company's significant accumulated
deficit and recurring losses from operations and negative cash
flows from operating activities in the current year and prior years
raise substantial doubt about the Company's ability to continue as
a going concern.


FIRST QUANTUM: Fitch Gives Final B+ Rating on $1.3B Unsec. Notes
----------------------------------------------------------------
Fitch Ratings has assigned Canada-based First Quantum Minerals
Ltd.'s (FQM; B+/Rating Watch Negative (RWN)) new 8.625% USD1.3
billion notes due 2031 a final senior unsecured rating of 'B+'. The
senior unsecured rating is on RWN. The Recovery Rating is 'RR4'.

The notes are senior unsecured obligations of the company and rank
pari passu with FQM's existing senior unsecured notes.

Fitch expects gross debt to remain broadly unchanged following the
debt issue as proceeds are being used to repay USD970 million of
the drawn portion of FQM's existing revolving credit facility (RCF)
and redeem USD300 million of its outstanding 2025 notes.

Fitch placed FQM's ratings on RWN in January 2023 following a
dispute between FQM and the Panama government over the final terms
of a revised concession contract. Following a recent agreement
reached in principle between FQM and the Panamanian government,
Fitch expects to resolve the RWN once the agreement has been
formalised.

KEY RATING DRIVERS

Cobre Panama Fully Operational: Fitch sees a sharply reduced risk
of disruption to operations at Cobre Panama following an agreement
in March 2023 between the Panamanian government and FQM's
subsidiary, Minera Panama S.A (MPSA), over the terms of the revised
concession contract. After a brief period of disrupted operations
in 1Q23 due to the government blocking concentrate loading at the
mine's port, Cobre Panama is now fully operational and a reversal
of the care and maintenance order from the government is expected.

Finalisation of Contract in Process: Fitch understands from
management that the draft concession contract has undergone a
public consultation process and will next be submitted to the
government for its approval. Following this, the contract will be
passed into law by the Panamanian parliament later this year. The
terms of the draft contract are in line with what the company
announced before and include a USD375 million minimum annual
payment comprising corporate taxes and a profit-based royalty of
12%-16%, with downside protections.

Financial Profile Remains Robust: Fitch forecasts EBITDA gross
leverage of around 2x for 2023, down from 2.7x in 2022 and well
within negative sensitivities for the rating. Fitch expects
leverage metrics to be driven lower this year by early repayments
of outstanding notes and projected EBITDA of over USD3.5 billion
due to still solid copper prices (despite recent moderation) and
continued ramp-up of volumes at Cobre Panama.

FQM's notes will lead to the debt quantum remaining broadly
unchanged as proceeds are being used to repay upcoming maturities,
while extending the company's maturity profile. FQM is targeting
USD1 billion of further net debt reduction in the medium term.

Key Mining Asset: Cobre Panama is fundamental to both the economy
of Panama and FQM's operational and financial profile. The mine
accounted for just under half of FQM's EBITDA and 43% of its copper
production in 2022. It has also helped FQM achieve material
geographic diversification beyond Zambia (RD; Country Ceiling of
B-), which before Cobre Panama's start-up generated 80% of total
copper production and earnings in 2018.

Cobre Panama represents up to 4% of Panama's GDP, the majority of
its export revenues, and employs 40,000 people, including direct
employees, contractors and indirect workers supporting the mine.

Applicable Country Ceiling Unlikely to Change: Given FQM's
diversification of earnings from several jurisdictions, Fitch
applies a multiple-countries approach to determine the applicable
Country Ceiling for FQM, in this case Panama's at 'A-'. In an
unlikely scenario where the contract is not finalised and
operational disruption recurs, Fitch estimates that even only six
months of cash flows from Cobre Panama would cover hard-currency
gross interest expense, which would support the applicability of
Panama's Country Ceiling of 'A-'.

DERIVATION SUMMARY

FQM's peers include copper producers Freeport-McMoRan Inc.
(BBB-/Positive), Hudbay Minerals Inc. (BB-/Stable) and precious
metals producers like Endeavour Mining plc (BB/Stable).

FQM and Freeport both focus on copper and are among the top 10
global producers. FQM is smaller with production of 776,859 tonnes
in 2022 compared with Freeport's 1.9 million tonnes. FQM's
medium-term cost position is in the third quartile while Freeport's
assets on average are placed below the 50th percentile due to
low-cost operations at its Grasberg mine.

Freeport benefits from wider diversification across geographies
with a more stable operating environment and more sizable assets
with longer reserve life. Freeport's medium-term debt/EBITDA is
below 2.0x.

Currently FQM has a stronger business profile than Hudbay due to a
much larger scale, longer reserve life and lower cost position.
However, Hudbay operates in the lower-risk jurisdictions of Canada
and Peru, and has some commodity diversification. Fitch expects
Hudbay's debt/EBITDA to remain below 2.5x, although leverage may
increase depending on the investment decision on its new Rosemont
project in the US.

Endeavour Mining, a gold miner in west Africa, is smaller than FQM
(assuming current scale) but with a better cost position in the
second quartile. Operations are spread across three countries,
Senegal (about 45% of mine FCF), Cote d'Ivoire (about 20%) and
Burkina Faso (about 35%). Burkina Faso has a very weak operating
environment with many challenges, including security.

Endeavour's rating balances its strong financial and business
profiles, including a conservative financial policy of maintaining
net debt/EBITDA below 0.5x through the cycle, with a weaker
operating environment, reflecting the group's focus on west African
countries across Senegal, Burkina Faso and Cote d'Ivoire. The
applicable Country Ceiling is Cote d'Ivoire's 'BB'.

KEY ASSUMPTIONS

- Copper price at USD8,800/tonne in 2023, USD8,000/tonne in 2024
and 2025, and USD7,000/tonne in 2026; gold price at USD1,700/oz in
2023, USD1,600/oz in 2024 and 2025 and USD1,300/oz in 2026; nickel
at USD22,000/tonne in 2023, USD19,000/tonne in 2024,
USD17,000/tonne in 2025 and USD15,000/tonne in 2026

- Production in line with guidance provided by the company

- Capex in line with guidance provided by the company

- Forecast dividends to 2026 in line with public dividend policy

- No large debt-funded acquisitions over the next four years

- Existing royalties in Panama replaced by a minimum tax
contribution of USD375 million payable in its forecast

- No changes in the tax regime in Zambia to 2026

KEY RECOVERY ANALYSIS ASSUMPTIONS

The recovery analysis assumes that FQM would be considered a going
concern in bankruptcy and that it would be reorganised rather than
liquidated.

The going-concern EBITDA estimate reflects Fitch's view of a
sustainable, post-reorganisation EBITDA upon which Fitch bases the
valuation of the company. Its going-concern EBITDA estimate of USD2
billion assumes a sharp drop in copper prices followed by a
moderate recovery.

An enterprise value/EBITDA multiple of 4.5x was used to calculate
the post-reorganisation enterprise value, which factors in FQM's
scale, growth prospects and exposure, albeit decreasing, to
Zambia.

FQM's senior secured RCF is assumed to be fully drawn.

Secured debt reflected in the waterfall comprised a combined USD2.7
billion RCF and a term-loan bank facility, and a USD1 billion
streaming agreement with Franco-Nevada related to the Cobre Panama
project (at March 2023).

Senior unsecured debt reflected in the waterfall was USD5.3 billion
consisting of bonds and a USD423 million FQM Trident term loan (at
March 2023).

After deducting 10% for administrative claims and taking into
account Fitch's Country Specific Treatment of Recovery Ratings
Criteria, its analysis resulted in a waterfall-generated recovery
computation (WGRC) in the 'RR4' band, indicating a 'B+' instrument
rating. The WGRC output percentage on current metrics and
assumptions was 50%.

RATING SENSITIVITIES

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

- The ratings are on RWN, and Fitch, therefore, does not expect a
positive rating action at least in the short term. However, a
revised concession contract to secure Cobre Panama's future
operations with final terms that are in line with its expectations,
along with a record of stable operations, could lead to a removal
of RWN and the affirmation of the rating and the assignment of a
Stable Outlook

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

- A significant reduction in the diversification of earnings caused
by material and protracted disruption to operations in Panama

- FFO gross leverage sustained above 4.0x (debt/EBITDA above 3.5x)

- Failure to maintain positive FCF

- Debt-funded acquisitions or higher-than-expected capex leading to
a material impact on the financial profile

- Signs of a deteriorating operating environment in Zambia

LIQUIDITY AND DEBT STRUCTURE

Adequate Liquidity: At end-March 2023, FQM's unrestricted cash
balances amounted to USD1.1 billion and the company had available
USD105 million of a committed undrawn RCF (with maturity in October
2025), providing ample liquidity to cover current maturities.

ESG CONSIDERATIONS

Unless otherwise disclosed in this section, the highest level of
ESG credit relevance is a score of '3'. This means ESG issues are
credit-neutral or have only a minimal credit impact on the entity,
either due to their nature or the way in which they are being
managed by the entity.

   Entity/Debt        Rating        Recovery   Prior
   -----------        ------        --------   -----
First Quantum
Minerals Ltd.

   senior
   unsecured       LT B+  New Rating   RR4   B+(EXP)


FORREST CONCRETE: Court OKs Final Cash Collateral Access
--------------------------------------------------------
The U.S. Bankruptcy Court for the District of South Carolina
authorized Forrest Concrete, LLC to use cash collateral on a final
basis in accordance with the budget, with a 10% variance.

The Debtor requires the use of cash collateral for the operation of
its business and payment of business expenses in the ordinary
course.

Funding Metrics, LLC, RDM Capital Funding, LLC, and PIRS Capital,
LLC assert or may assert, a security interest and lien in the cash
collateral.

As adequate protection for the use of cash collateral, the Debtor
agrees to provide Metrics, RDM, and PIRS Capital, LLC with
replacement liens on post-petition cash collateral to the same
extent and in the same priority as their pre-petition liens, for
any postpetition diminution in the pre-petition cash collateral as
well as replacement liens on all other property that may be
acquired post-petition by the Debtor with the replacement liens
having the same extent and priority as their prepetition liens on
such property.

A copy of the Court's order and the Debtor's budget is available at
https://urlcurt.com/u?l=NLzUAk from PacerMonitor.com.

The Debtor projects, total disbursements, on a weekly basis, as
follows:

     $13,702 for the week ending May 5, 2023;
     $16,413 for the week ending May 12, 2023;
     $12,576 for the week ending May 19, 2023;
     $13,915 for the week ending May 26, 2023; and
     $21,084 for the week ending June 2, 2023.

                   About Forrest Concrete, LLC

Forrest Concrete, LLC is a concrete contractor specializing in
residential and commercial polished concrete, pervious concrete,
and stamped concrete. The Debtor sought protection under Chapter 11
of the U.S. Bankruptcy Code (Bankr. D.S.C. Case No. 3-01171) on
April 24, 2023. In the petition signed by Michael P. Forrest, its
managing member, the Debtor disclosed $724,975 in assets and
$2,987,912 in liabilities.

Judge Elisabetta G. Gasparini oversees the case.

W. Harrison Penn, Esq., at McCarthy, Reynolds, Penn, LLC,
represents the Debtor as legal counsel.



FRANKIE'S COMICS: Court OKs Interim Cash Collateral Access
----------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of North
Carolina in Raleigh authorized Frankie's Comics LLC to use cash
collateral on an interim basis in accordance with the budget.

The Debtor requires the use of cash collateral to continue normal
operations and maintain its going concern value.

Frankie's Comics started doing business as an online retailer of
comic books in 2015. In 2021, Frankie's Comics opened a
brick-and-mortar store in Apex, North Carolina. Sales declined as
the pandemic wore on in the end of 2021. Frankie's Comics took out
several high-interest loans, which burdened its ability to
operate.

The Debtor closed the brick-and-mortar store, but plans to re-open
the store in 2023. Frankie's Comics continues to run its online
comic sales business.

A review of the North Carolina Secretary of State's UCC filings
reveals the following financing statements which might perfect a
lien on cash collateral:

     a. File # 20200061763J recorded May 26, 2020, in favor of U.S.
Small Business Administration, 2 North Street, Suite 320,
Birmingham, AL 35203;

     b. File # 20220080891C recorded June 8, 2022, in favor of CHTD
Company, P.O. Box 2576, Springfield, IL 62708;

     c. File # 20220097680H recorded June 14, 2022, in favor of
First Corporate Solutions, as representative, 914 S. Street,
Sacramento, CA 95811;

     d. File # 20220122362C recorded September 6, 2022, in favor of
Corporation Service Company as representative, P.O. Box 2576.
Springfield, IL 62708;

     e. File # 20220145062F recorded October 26, 2022, in favor of
CT Corporation System, as representative, 330 N. Brand Blvd., Suite
700: ATTN: SPRS, Glendale, CA 90210; and

     f. File # 20220153194M recorded on November 15, 2022, in favor
of Corporation Service Company as representative, P.O. Box 2576.
Springfield, IL 62708.

As adequate protection, and to the extent that cash collateral is
used, the Potential Secured Creditors will receive a post-petition
lien on the Debtor's cash and inventory to the extent of the use
and to the extent that the pre-petition lien in the same type of
collateral was valid, perfected, enforceable, and non-avoidable as
of the petition date.

The Debtor's use of cash collateral will expire or terminate on the
earlier of:

     (i) the Debtor ceasing operations of its business; or

    (ii) the non-compliance or default of the Debtor with any terms
and provisions of the Order.

The Debtor will deposit $1,000 into the trust account of its
attorneys to be used for payment of the fees on the trustee, once
approved.

A further hearing on the matter is set for June 13, 2023 at 10
a.m.

A copy of the order and the Debtor's budget is available at
https://urlcurt.com/u?l=ScsY5y from PacerMonitor.com.

The Debtor projects $73,400 in total income and $62,626 in total
expenses for the period from May 3 to June 1, 2023.

                 About Frankie's Comics, LLC

Frankie's Comics, LLC is a comic book store in Apex, North
Carolina. The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D.N.C. Case No. 22-02892) on December 14,
2022. In the petition signed by Kevin Fields, owner/manager, the
Debtor disclosed up to $10 million in both assets and liabilities.

Judge Joseph N. Callaway oversees the case.

William P. Janvier, Esq., at Stevens Martin Vaughn & Tadych, PLLC,
represents the Debtor as legal counsel.  Roscoe & Roscoe, PA has
been hired as its accountant.


FREEDOM MISSIONARY: Taps Law Office of John E. Dunlap as Counsel
----------------------------------------------------------------
Freedom Missionary Baptist Church seeks approval from the U.S.
Bankruptcy Court for the Western District of Tennessee to hire the
Law Office of John E. Dunlap.

The Debtor requires legal counsel to:

     a. give advice with respect to the powers and duties of the
Debtor in the continued management and operation of its business;

     b. attend meeting of creditors and negotiate with
representatives of creditors and other parties involved in the
Debtor's Chapter 11 case, and advise on the conduct of the case,
including all of the legal and administrative requirements of
operating in Chapter 11;

     c. take all necessary action to protect and preserve the
Debtor's estate, including prosecution of actions, the defense of
any actions commenced against the Debtor, negotiate concerning all
litigation in which the Debtor is involved, and objections to
claims filed against the estate;

     d. prepare legal papers;

     e. negotiate and prepare on the Debtor's behalf a plan of
reorganization, disclosure statements, and all related agreements
and documents and take all necessary action to obtain confirmation
of such plan;

     f. advise the Debtor in connection with the sale of its
assets;

     g. appear before the bankruptcy court, any appellate courts,
and the U.S. Trustee; and

     h. perform all other necessary legal services.

The Law Office of John E. Dunlap will charge $250 an hour for its
services.

The firm received the sum of $10,000.

As disclosed in court filings, the Law Office of John E. Dunlap
does not have an interest materially adverse to the interest of the
Debtor's estate, creditors or equity security holders.

The firm can be reached through:

     John E. Dunlap, Esq.
     Law Office of John E. Dunlap
     3340 Polar Avenue, Suite 320
     Memphis, TN 38111
     Phone: (901) 320-1603
     Fax: (901) 320-6914
     Email: jdunlap00@gmail.com

        About Freedom Missionary Baptist Church

Freedom Missionary Baptist Church sought protection under Chapter
11 of the Bankruptcy Code (Bankr. W.D. Tenn. Case No. 23-21760) on
April 10, 2023, with $500,001 to $1 million in assets and $100,001
to $500,000 in liabilities. Judge Denise E. Barnett oversees the
case.

John E. Dunlap, Esq., is the Debtor's bankruptcy counsel.


GATOR COURIER: Case Summary & 13 Unsecured Creditors
----------------------------------------------------
Debtor: Gator Courier, Inc.
        85 Macon Ridge Cove
        Williston, TN 38076

Chapter 11 Petition Date: May 22, 2023

Court: United States Bankruptcy Court
       Western District of Tennessee

Case No.: 23-22453

Judge: Hon. Jennie D. Latta

Debtor's Counsel: Toni Campbell Parker, Esq.
                  LAW FIRM OF TONI CAMPBELL PARKER
                  45 N. Third Ave., Ste. 201
                  Memphis, TN 38103
                  Tel: 901-683-0099
                  Fax: 866-489-7938
                  Email: tparker002@att.net

Total Assets: $1,094,000

Total Liabilities: $1,816,507

The petition was signed by Brandon Wylie as president.

A full-text copy of the petition containing, among other items, a
list of the Debtor's 13 unsecured creditors is available for free
at PacerMonitor.com at:

https://www.pacermonitor.com/view/JJOSHPA/Gator_Courier_Inc__tnwbke-23-22453__0001.0.pdf?mcid=tGE4TAMA


GLOBAL MIXED: Unsecured Creditors to Split $5K in 36 Months
-----------------------------------------------------------
Global Mixed Martial Arts Academy, LLC filed with the U.S.
Bankruptcy Court for the Northern District of Florida a Subchapter
V Plan of Reorganization dated May 18, 2023.

The Debtor provides training in various specialized areas of
martial arts. Jason Dodd has owned and operated the business since
2011.

Problems began in 2020 when the pandemic severely impacted the
business. In June, 2020, the Debtor obtained an Economic Disaster
Loan from the U.S Small Business Administration in the amount of
$145,000.00. The Debtor also obtained two high interest rate loans
from other lenders. Although the business grew from the days of the
pandemic, Mr. Dodd concluded that the only way to save the business
was to reorganize in Chapter 11.

This Plan submitted under section 1190 of Subchapter V of Chapter
11 of the Bankruptcy Code proposes to pay creditors of the Debtor
from future income. The term of the Plan is 36 months.

Non-priority unsecured creditors holding allowed claims will
receive distributions which the proponent of the Plan has valued at
approximately 1.7%. The Plan also provides for the payment of
priority and administrative claims

Class 3 consists of the claim of TimePayment. The total amount owed
is $10,881.73. The Debtor values the mats at $6,000.00. The Debtor
will amortize the allowed secured claim amount over thirty-36
months with 4% interest for monthly payments of $177.14. This
creditor will retain its lien on its collateral until its secured
claim is paid in full. The balance of this claim will be treated as
an unsecured claim and will be paid pro rata along with all other
unsecured general claims in Class 5.

Class 4 consists of the claim of the U.S. Small Business
Administration. This creditor filed claim 7 as a secured claim in
the amount of $160,054.53. The Debtor will pay $3,579.29 with
interest of $3.75% over a period of 36 months. Monthly payments
will be $105.28. The first Plan payment will be due thirty days
following the Effective Date of the Plan. This creditor will retain
its lien on its collateral until its secured claim is paid in full.
The balance of this claim will be treated as an unsecured claim and
will be paid pro rata along with all other unsecured general claims
in Class 5.

Class 5 consists of Unsecured Creditors. The Debtor's total
unsecured debt is approximately $294,355.57. This amount includes
estimated deficiencies for partially secured creditors. This is an
initial estimate and the amounts may change when the Florida
Department of Revenue amends its claim.

The Debtor will pay a total of $5,000.00, with no interest, to all
timely filed, allowed unsecured claims on a pro rata basis over 36
months. For administrative convenience, this amount will be paid
quarterly, with payments of $416.67 each, starting on the first day
of the month which is three months following the Effective Date of
the Plan. There will be a ten-day grace period as to each such
payment.

The Debtor intends to make Plan payments from future income. Should
the Debtor be unable to make the required payments from future
income, the Debtor will take appropriate action to fund the
required amount. This could include a proposed modification of the
confirmed plan or liquidation of assets.

A full-text copy of the Subchapter V Plan dated May 18, 2023 is
available at https://urlcurt.com/u?l=07qWFM from PacerMonitor.com
at no charge.

Attorneys for Debtor:

     Lisa C. Cohen, Esq.
     LAW FIRM OF RUFF & COHEN, P.A.
     4010 W Newberry Rd.
     Gainesville, FL 32607
     Tel: (352) 376-3601

            About Global Mixed Martial Arts Academy

Global Mixed Martial Arts Academy, LLC provides training services
in specialized areas of martial arts. The primary source of revenue
is from memberships fees. The Debtor sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Fla. Case No.
23-10029) on February 21, 2023. In the petition signed by Jason R.
Dodd, president, the Debtor disclosed up to $50,000 in assets and
up to $500,000 in liabilities.

Judge Karen K. Specie oversees the case.

Lisa C. Cohen, Esq., at Ruff & Cohen, P.A., represents the Debtor
as legal counsel.


GLOBAL TEE: Case Summary & 18 Unsecured Creditors
-------------------------------------------------
Debtor: The Global Tee Company, L.L.C.
        4850 Kendrick St. SE
        Grand Rapids, MI 49512

Chapter 11 Petition Date: May 25, 2023

Court: United States Bankruptcy Court
       Western District of Michigan

Case No.: 23-01205

Judge: Hon. James W. Boyd

Debtor's Counsel: Perry Pastula, Esq.
                  DUNN, SCHOUTEN & SNOAP, P.C.
                  2745 Dehoop Ave SW
                  Wyoming, MI 49509
                  Tel: 616-538-6380
                  Email: ppastula@dunnsslaw.com

Estimated Assets: $100,000 to $500,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Scott Sandberg as member.

A copy of the Debtor's list of 18 unsecured creditors is available
for free at PacerMonitor.com at:

https://www.pacermonitor.com/view/KF64P7I/The_Global_Tee_Company_LLC__miwbke-23-01205__0003.0.pdf?mcid=tGE4TAMA

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

https://www.pacermonitor.com/view/F6F4IVA/The_Global_Tee_Company_LLC__miwbke-23-01205__0001.0.pdf?mcid=tGE4TAMA


GREENHILL & CO: Moody's Puts 'B1' CFR on Review for Upgrade
-----------------------------------------------------------
Moody's Investors Service has placed on review for upgrade the B1
senior secured debt rating and the B1 corporate family rating of
Greenhill & Co., Inc. The rating action follows the announcement[1]
that Greenhill has agreed to be acquired by Mizuho Financial
Group, Inc. (Mizuho, A1 senior unsecured with stable outlook, baa1
baseline credit assessments at its two bank subsidiaries). The
rating outlook for Greenhill was changed to Ratings Under Review
from Negative.

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

On May 22, 2023, Mizuho and Greenhill announced a definitive
agreement for Mizuhu to acquire Greenhill in an all-cash
transaction at $15 per share. The parties expect the transaction to
close by year end, and the agreement is subject to approval by
Greenhill stockholders, and also is contingent on required
regulatory approvals and other customary closing conditions.
Moody's said its review will consider the legal structure of the
transaction, including whether Greenhill's outstanding rated senior
secured debt will be directly assumed by Mizuho or an affiliate, as
well as assessing the potential benefits to Greenhill's creditors
from being affiliated with a larger and more diverse banking group
and the likelihood of support from Mizuho in the event of financial
distress at Greenhill.

Greenhill's B1 ratings reflect the growing refinancing risk which
Greenhill is facing in light of its upcoming April 2024 loan
maturity as well as a more challenging operating and market
environment. Despite a robust pipeline of M&A transactions on which
it is advising, heightened market volatility and a regulatory
challenge for one deal has led to a slowdown in deal completions.
As a result, Greenhill's financial performance in 2022 was weaker
than expected, and while completion and related revenue recognition
pertaining to the delayed advisory transactions will likely boost
first half 2023 results compared with the first half of 2022, the
outlook for the remainder of 2023 is less assured given the
uncertain economic environment, fragile investor confidence, and
the risk that financial conditions will remain tight for a longer
period of time.

Greenhill's B1 ratings also incorporate Moody's expectation that
Greenhill's variable compensation model and its growing
restructuring business will help ameliorate a portion of the
revenue pressures that could arise in 2023 due to the adverse
impact on M&A activity from the global economic slowdown and
heightened levels of market volatility. The rating agency also
noted that Greenhill's advisory business is less dependent upon
sponsor-driven M&A activity which in the current operating
environment has been challenged by wider credit spreads and more
limited financing availability. As a result, even though Greenhill
lacks the scale and diversification of many other advisory firms,
which in some environments could lead to greater earnings and cash
flow generation volatility than peers, Moody's expects that
Greenhill's lower reliance on sponsor-driven activity and its
traditional strength in advising large-cap investment grade
corporates should lead to a more modest decline in advisory
revenues during the current downturn than at many of its peers.

Moody's said that Greenhill's B1 senior secured debt rating is at
the same rating level as its B1 CFR because Greenhill does not have
any other issued debt in its capital structure, that otherwise
might be subordinate to its senior secured debt.

Greenhill's ratings could be upgraded if the acquisition by Mizuho
is completed and Mizuho assumes Greenhill's debt or Moody's
believes Greenhill's creditors are likely to benefit from
Greenhill's affiliation with Mizuho. The upgrade could be several
notches depending upon Moody's view of the likelihood of support
from Mizuho for Greenhill.

Greenhill's ratings could be downgraded if the acquisition is
cancelled and Greenhill is unable to refinance or extend its
existing term loan debt maturity at reasonable terms. The company's
ratings could also be downgraded should either Greenhill's
debt/EBITDA on a Moody's adjusted basis remain above 6.0x or its
pre-tax margin remain below 12% on a prolonged basis, if the firm's
compensation costs as a percentage of revenues remain above
management's target range, or should there be a departure of key
personnel.

Greenhill is a New York-headquartered financial advisory firm. The
firm's specialization is in M&A advisory, and it also operates a
restructuring advisory business and a capital advisory segment.
Greenhill reported $258 million in revenues in 2022.

The principal methodology used in these ratings was Securities
Industry Service Providers Methodology published in November 2019.


HILLENBRAND INC: FPM Transaction No Impact on Moody's 'Ba1' CFR
---------------------------------------------------------------
Moody's Investors Service said that Hillenbrand, Inc.'s ratings,
including the Ba1 corporate family rating, and stable outlook are
unaffected following the company's announcement that it will
acquire the Food and Performance Materials business ("FPM") of
Germany-based Schenck Process Group for approximately $730
million.

FPM, headquartered in Missouri, manufactures process automation
equipment used in various applications, including food production
(e.g. mixing, blending, milling) and plastics, with a strong
presence in North America.  The transaction is expected to close in
the fourth quarter of fiscal 2023 (ended September), subject to
customary closing conditions.

Moody's views the transaction as credit negative because it will
increase Hillenbrand's financial leverage and reduce its available
liquidity, with the financing expected to incorporate a draw on the
$1 billion revolver (maturing in 2027) and likely integration
costs. Moody's estimates pro forma adjusted debt-to-LTM EBITDA
above 4x at March 31, 2023, from about 3.3x pro forma for the sale
of the deathcare business (Batesville).  Moody's notes the
acquisition continues an active pace of debt funded acquisitions in
relatively short timeframe, and is occurring amid slowing economic
growth and demand pressures in Hillenbrand's higher margin Molding
Technology Solutions segment.  Additionally, the recent divestiture
of Batesville leaves Hillenbrand reliant on cyclical businesses.
Batesville's strong margins and predictable cash flow enabled
Hillenbrand to build out its industrial platform.  

Moody's expects Hillenbrand to maintain good liquidity and
prioritize reducing its leverage consistent with its prior history
following acquisitions.  The company's high leverage leaves minimal
cushion in the rating for additional leveraging transactions.
Moody's expects the debt-to-EBITDA ratio to fall towards 3.5x into
2024. The combination with FPM will add capabilities in food
processing and specialty chemicals while enhancing Hillenbrand's
technologies in engineered plastics.  Although Hillenbrand is
exposed to cyclical markets, FPM along with 2022 acquisitions of
Linxis and Herbold contribute products that serve several end
markets with good long term growth prospects. These include food
and plastic recycling, where there is growing demand for more
sustainable, durable plastics.

Hillenbrand, Inc. is a diversified industrial company consisting of
two segments: Advanced Process Solutions or APS (previously the
Process Equipment Group) and Molding Technology Solutions or MTS
(previously Milacron Holdings). APS manufactures process and
material handling equipment and systems used in a variety of
industries. MTS manufacturers and customizes equipment and supplies
used in plastic technology and processing. Revenue reported for
twelve months ended March 31, 2023 was approximately $3.2 billion.


HILLENBRAND INC: S&P Affirms 'BB+' ICR on Expected Deleveraging
---------------------------------------------------------------
S&P Global Ratings affirmed its 'BB+' issuer credit rating on
diversified industrial company Hillenbrand Inc. S&P's issue-level
ratings and recovery ratings on the company's debt are unchanged.

The stable outlook reflects S&P's expectation that, although the
company's S&P Global Ratings-adjusted leverage will be about 4x as
of the end of 2023, modest EBITDA growth and free operating cash
flow generation will support an improvement in its leverage toward
the mid-3x area by the end of 2024.

S&P said, "While we anticipate the acquisition will increase
Hillenbrand's S&P Global Ratings-adjusted leverage to near our
downgrade threshold, we forecast it will rebuild its leverage
cushion over the next year. The company plans to fund its roughly
$730 million acquisition of FPM largely with revolver drawings, in
addition to cash on hand. Pro forma for the expected increase in
its debt and a full year of EBITDA contributions from FPM, we
forecast its S&P Global Ratings-adjusted leverage will increase to
the high-3x to 4x area as of the end of fiscal year 2023 (ending
Sept. 30, 2023), which compares with our prior forecast for S&P
Global Ratings-adjusted leverage in the high-2x area. Nevertheless,
we anticipate Hillenbrand will reduce its leverage by increasing
its EBITDA and using its free operating cash flow generation (FOCF)
to repay debt, thus we forecast its S&P Global Ratings-adjusted
leverage will improve toward the mid-3x area by the end of 2024.
This level of leverage would provide it with some cushion to absorb
a potential modest underperformance. Further, given the company's
target net leverage range of 1.7x-2.7x (S&P Global Ratings-adjusted
leverage is about 1x higher), we believe it will prioritize debt
reduction in lieu of share repurchases or other large acquisitions
over the next 12 months."

FPM is complimentary to Hillenbrand's existing product and services
and will increase its exposure to fast-growing and less-cyclical
end markets. FPM is an equipment and systems provider that largely
serves the processed food end market. The food end markets are
generally less cyclical than the industrial and consumer-focused
end markets that Hillenbrand's Advanced Process Solutions (APS) and
Molding Technology Solutions (MTS) segments largely serve. Further,
the demand for food generally rises faster than GDP growth, which
compares favorably with the demand in the traditional plastics and
chemical end markets that largely tracks GDP. Food end markets
currently account for about 16% of Hillenbrand's revenue.

S&P said, "We expect Hillenbrand will continue to generate good
FOCF through at least 2024. We anticipate the company will work
through some of the inventory it built up last year, leading to a
reduction in its working capital usage in 2023 relative to 2022.
Further, we anticipate working capital benefits from easing supply
chain conditions may facilitate faster project completion and
accelerate billings. Therefore, we forecast Hillenbrand's FOCF will
be $180 million-$210 million in 2023 before improving to $230
million-$260 million in 2024. We believe the company will largely
use its FOCF for capital expenditure (capex) and dividends, along
with modest bolt-on acquisitions, after it has deleveraged to more
normalized levels following the FPM acquisition.

"The stable outlook reflects our expectation that, although
Hillenbrand's S&P Global Ratings-adjusted leverage will be about 4x
as of the end of 2023, modest EBITDA growth and FOCF generation
will support an improvement in its leverage toward the mid-3x area
by the end of 2024.

"We could lower our ratings on Hillenbrand if we expect its S&P
Global Ratings-adjusted leverage will increase above 4x on a
sustained basis. This could occur if the company's S&P Global
Ratings-adjusted EBITDA is modestly lower than we forecast or it
pursues further acquisitions that expand its leverage well above 4x
and we do not believe there is a clear and swift path for it to
reduce its leverage below that level.

"We could raise our ratings on Hillenbrand if it continues to
demonstrate a track record of steady profitability and we expect it
will maintain S&P Global Ratings-adjusted leverage of less than 3x,
even when incorporating acquisitions or potential operating
weakness. Before raising our rating, we would want to be confident
that maintaining S&P Global Ratings-adjusted leverage of under 3x
is aligned with the company's financial policy, even after
incorporating its acquisitions."

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

ESG factors are neutral overall. The company derives over 30% of
its revenue from the plastics industry, though its equipment is
predominantly used to produce durable goods. It has very limited
exposure to single-use plastics and is increasing its exposure to
recycled and biodegradable plastics, which represent only a small
portion of its revenue.



HONEY CREEK PARTNERS: Taps Griffin Harris as Real Estate Counsel
----------------------------------------------------------------
Honey Creek Partners, L.P. seeks approval from the U.S. Bankruptcy
Court for the Northern District of Texas to employ Griffin Harris,
PLLC as its special real estate counsel.

The Debtor requires legal advice concerning the terms and
conditions of the contract governing the sale of its real property
in Weston, Collin County, Texas.

The normal billing rate of each Griffin Harris attorney is $445 per
hour, with the firm charging $150 per hour for paraprofessional
services.

The Debtor will pay Griffin Harris a $25,000 retainer.

As disclosed in court filings, Griffin Harris is a disinterested
person pursuant to Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Mason Griffin
     Griffin Harris, PLLC
     8144 Walnut Hill Lane, #1080
     Dallas, TX 75231
     Phone: 214-420-8700
     Email: mgriffin@griffinharris.com

                    About Honey Creek Partners

Honey Creek Partners, L.P., formerly known as Honey Creek Ranch
Corporation, is a limited partnership in Flower Mound, Texas.

Honey Creek Partners filed its voluntary petition for Chapter 11
protection (Bankr. N.D. Texas Case No. 23-30339) on Feb. 24, 2023,
with $50 million to $100 million in assets and $1 million to $10
million in liabilities. Judge Stacey G. Jernigan oversees the
case.

Charles B. Hendricks, Esq., at Cavazos Hendricks Poirot, P.C. and
Griffin Harris, PLLC serve as the Debtor's bankruptcy counsel and
special real estate counsel, respectively.


HOSTESS BRANDS: Moody's Alters Outlook on 'B1' CFR to Positive
--------------------------------------------------------------
Moody's Investors Service affirmed the ratings of Hostess Brands,
LLC, including the company's B1 Corporate Family Rating and the
B1-PD Probability of Default Rating. Moody's also affirmed the B1
rating on the company's first lien senior secured debt, which
consists of a $100 million revolver due 2024 and a $983 million
term loan due 2025. Moody's also changed the outlook to positive
from stable.

The outlook revision to positive from stable reflects Hostess'
continued deleveraging. Financial leverage has steadily declined
since the Voortman acquisition in 1Q20 when debt/EBITDA leverage
increased to roughly 5.5x (on a Moody's adjusted basis), to 3.5x
for the last 12 month (LTM) period ended March 31, 2023, with the
deleveraging largely driven by earnings growth. Deleveraging was
further supported by the company's $100 million prepayment of its
existing term loan in 4Q22. The positive outlook also reflects
Moody's expectation that the company will continue to generate
earnings growth to further reduce leverage to 3.0x-3.5x over the
next 12 months absent acquisitions and refinance upcoming
maturities at an interest cost that will not materially reduce free
cash flow.

The affirmation reflects Moody's expectation that Hostess will
maintain solid credit metrics and very good liquidity. The
affirmation also reflects that Hostess remains interested in
expanding its portfolio through acquisitions that would increase
leverage, involve integration risk and could alter business risk.
The potential drag on earnings from cost inflation and weaker
consumer demand related to a US economic slowdown could also lead
to modest upward pressure on leverage in 2023 though Hostess has
thus far executed well in the face of similar pressures during 2022
and 1Q23. Because Hostess is currently operating at the bottom end
of its 3-4x net leverage ratio target (based on the company's
calculation; 3.0x as of March 2023), Moody's anticipates that
leverage will ultimately move higher. If Hostess were to make an
acquisition similar to the size of Voortman, roughly $350 million,
Moody's estimates debt/EBITDA leverage (on a Moody's adjusted
basis) could go up to 4.5x assuming a similar pre-synergy
transaction multiple as historical transactions. This would be
nearly a full turn increase in leverage from the 3.5x debt/EBITDA
leverage for the last 12 month (LTM) period ended March 31, 2023.

Hostess has generated solid top line growth over the last few
years, with 12% revenue growth in 2021 followed by 19% revenue
growth in 2022. The company's revenue growth over this period was
driven by a combination of pricing and volume, supported by
positive indulgent snacking trends in the sweet baked goods
category and good execution on innovation and distribution. Revenue
growth slowed in the first quarter ended March 31, 2023 to 4%
compared to the prior year, with volumes declining 11%. The volume
decline largely reflected tough comps as the company benefitted
last year from industry supply chain disruption (volumes increased
15% in 1Q22 compared to 1Q21). Moody's expects the company's
revenue to grow roughly 5% in 2023, driven by pricing/mix, as
volume growth will likely be flat. Moody's projects the company's
EBITDA to grow at a high single digit rate in 2023. Inflationary
and supply chain challenges have negatively impacted the EBITDA
margin since mid-2021, but EBITDA (on a Moody's adjusted basis)
still grew at a 12% CAGR from 2020 to the LTM period ended March
31, 2023 (compared to 14% revenue CAGR), reflecting benefits of
pricing actions, volume growth, and productivity initiatives.

The following ratings/assessments are affected by the action:

Affirmations:

Issuer: Hostess Brands, LLC

Corporate Family Rating, Affirmed B1

Probability of Default Rating, Affirmed B1-PD

Senior Secured Bank Credit Facility, Affirmed B1

Outlook Actions:

Issuer: Hostess Brands, LLC

Outlook, Changed To Positive From Stable

RATINGS RATIONALE

Hostess' B1 CFR reflects its moderate scale among consumer goods
companies, product concentration in the packaged sweet baked goods
category, and its strategy of growing through acquisitions that has
historically led to periodic increases in leverage. While the
company's net debt-to-EBITDA leverage target of 3.0x-4.0x (based on
the company's definition) creates some discipline around its
capital allocation strategy, Hostess typically increases leverage
above that range when acquiring companies, with the intent of
deleveraging back to its target thereafter. The company benefits
from well-known snack cake brands, high profit margins, very good
liquidity and solid free cash flow. Absent any material
acquisitions, Moody's expects the company to distribute cash to
shareholders in the form of share repurchases while reducing
debt/EBITDA leverage (on a Moody's adjusted basis) to 3.0x-3.5x
over the next 12 months, relatively in line with debt/EBITDA of
3.5x for the LTM period ended March 31, 2023. Because Hostess'
leverage is currently at the bottom end of the company's target
range (3.0x as of March 2023 based on the company's definition),
Moody's expects leverage to increase over the next few years
through acquisitions or other corporate actions.

Hostess' liquidity is very good, supported by $94 million of
availability (net of $6 million outstanding letters of credit) on
its $100 million revolving credit facility and $102 million of cash
on the balance sheet as of March 31, 2023. Given Moody's
expectation of positive free cash flow over the next twelve months,
the company's revolving credit facility is likely to remain undrawn
over the next year. Moody's projects free cash flow in 2023 to be
lower than the $138 million and $118 million that Hostess generated
in 2021 and 2022, respectively. Specifically, Moody's projects free
cash flow of $50-$100 million in 2023 due to a step up in capital
spending primarily related to the Arkadelphia, Arkansas capacity
expansion project.  Also, 2022 free cash flow benefitted from $33
million of insurance proceeds related to the Voortman acquisition.
The company's free cash flow should improve to greater than $150
million in 2024 as capital spending begins to normalize as the
Arkadelphia, Arkansas project is expected to be completed in the
second half of 2023.

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

A rating downgrade could occur if operating performance
deteriorates, liquidity weakens, or the financial policy becomes
more aggressive. Quantitatively, a downgrade could also occur if
debt/EBITDA is not sustained below 5.5x.

A rating upgrade could occur if Hostess is able to sustain good
operating performance, successfully ramp up production in the
Arkadelphia bakery, and continue to grow scale and improve earnings
diversity. Hostess would also need to sustain debt/EBITDA below
4.0x and continue to generate meaningful annual free cash flow.

ESG CONSIDERATIONS

Hostess' CIS-4 indicates the rating is lower than it would have
been if ESG risk exposures did not exist. This reflects the weight
placed on Hostess' governance, including its high leverage for its
business profile, and its strategy of growing through acquisitions
that has historically led to periodic increases in leverage.
Environmental and social risks are present and are scored similarly
to other companies across the Packaged Food sector but overall are
lesser factors than the governance risks driving the CIS-4.

PRINCIPAL METHODOLOGY

The principal methodology used in these ratings was Consumer
Packaged Goods published in June 2022.

COMPANY PROFILE

Headquartered in Lenexa, Kansas, Hostess develops, manufactures,
markets, and sells sweet snacks in the US under the Hostess brands
and in North America under the Voortman brands. Products include
snack cakes, donuts, sweet rolls, breakfast pastries, snack pies,
cookies, wafers, and related products. Well-known brands include
Hostess CupCakes, Twinkies, Ding Dongs, Zingers, Ho Hos, Coffee
Cakes, and Donettes, as well as a variety of Voortman branded
cookies and wafers. Revenue for the publicly-traded company was
approximately $1.4 billion for the twelve months ended March 31,
2023.


HUMANIGEN INC: Incurs $4.2 Million Net Loss in First Quarter
------------------------------------------------------------
Humanigen, Inc. filed with the Securities and Exchange Commission
its Quarterly Report on Form 10-Q disclosing a net loss of $4.18
million on $221,000 of total revenue for the three months ended
March 31, 2023, compared to a net loss of $21.28 million on $1.04
million of total revenue for the three months ended March 31,
2022.

As of March 31, 2023, the Company had $5.12 million in total
assets, $54.84 million in total liabilities, and a total
stockholders' deficit of $49.72 million.

The Company has incurred net losses since its inception, and has
negative operating cash flows and its total liabilities exceed
total assets.  The Company said these conditions raise substantial
doubt about its ability to continue as a going concern.

As of March 31, 2023, the Company had cash and cash equivalents of
$3.1 million.

"Considering the Company's current cash resources and its current
and expected levels of operating expenses for the next twelve
months, which includes combined accounts payable and accrued
expenses recorded in the Company's consolidated balance sheets as
of March 31, 2023 of $52.4 million, certain of which are in
dispute, and manufacturing commitments of $1.8 million for the
remaining nine months of 2023, with no significant commitments
thereafter...the Company requires additional capital to fund the
Company's planned operations.  The Company intends to seek to defer
payments, negotiate lower amounts or pursue other courses of action
for certain amounts owed to manufacturing and other partners at
March 31, 2023.  In order to remain a going concern, the Company
must successfully renegotiate these amounts owed, and settle
disputes, including current and potential future arbitration and
litigation. During 2022, the Company engaged SC&H Capital, an
affiliate of SC&H Group, Inc.("SC&H"), to advise the Company on
exploration of strategic options to maximize value around its
development pipeline. The Company has not set a timetable for the
conclusion of its review of strategic alternatives, and there can
be no assurance that this process will result in any transaction."

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/1293310/000121465923007002/hgen-20230331.htm

                           About Humanigen Inc.

Based in Brisbane, Calif., Humanigen, Inc. (OTCQB: HGEN), formerly
known as KaloBios Pharmaceuticals, Inc. -- http://www.humanigen.com
-- is a clinical stage biopharmaceutical company, developing its
portfolio of proprietary Humaneered anti-inflammatory immunology
and immuno-oncology monoclonal antibodies.  The Company's
proprietary, patented Humaneered technology platform is a method
for converting existing antibodies (typically murine) into
engineered, high-affinity human antibodies designed for therapeutic
use, particularly with acute and chronic conditions. The Company
has developed or in-licensed targets or research antibodies,
typically from academic institutions, and then applied its
Humaneered technology to optimize them. The Company's lead product
candidate, lenzilumab, and its other product candidate,
ifabotuzumab ("iFab"), are Humaneered monoclonal antibodies. Its
Humaneered antibodies are closer to human antibodies than chimeric
or conventionally humanized antibodies and have a high affinity for
their target. In addition, the Company believes its Humaneered
antibodies offer further important advantages, such as high
potency, a slow off-rate and a lower likelihood to induce an
inappropriate immune response or infusion related reaction.

Humanigen reported a net loss of $70.73 million for the 12 months
ended Dec. 31, 2022, compared to a net loss of $236.65 million for
the 12 months ended Dec. 31, 2021. As of Dec. 31, 2022, the Company
had $11.19 million in total assets, $57.96 million in total
liabilities, and a total stockholders' deficit of $46.76 million.

Ridgeland, Mississippi-based HORNE LLP, the Company's auditor since
2016, issued a "going concern" qualification in its report dated
March 30, 2023, citing that the Company has suffered recurring
losses from operations and its total liabilities exceed its total
assets.  This raises substantial doubt about the Company's ability
to continue as a going concern.


J&K REAL ESTATE: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: J&K Real Estate Investment Group, LLC
        100 Otter Road
        Campbell Hall, NY 10916

Business Description: The Debtor is a Single Asset Real Estate (as

                      defined in 11 U.S.C. Section 101(51B)).

Chapter 11 Petition Date: May 25, 2023

Court: United States Bankruptcy Court
       Southern District of New York

Case No.: 23-35431

Judge: Hon. Cecelia G. Morris

Debtor's Counsel: Raymond P. Raiche, Esq.
                  THE RAICHE LAW FIRM
                  355 Main Street
                  Beacon, NY 12508
                  Tel: 845-379-0200
                  Fax: 845-319-7646
                  Email: ray@raichelawfirm.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Joseph Betro as managing member.

The Debtor failed to include in the petition a list of its 20
largest unsecured creditors.

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

https://www.pacermonitor.com/view/65U6YHY/JK_Real_Estate_Investment_Group__nysbke-23-35431__0001.0.pdf?mcid=tGE4TAMA


JAGUAR HEALTH: Replenishes New Employee Inducement Plan
-------------------------------------------------------
Jaguar Health, Inc. announced that the Company's New Employee
Inducement Award Plan, which was adopted by Jaguar's Board of
Directors effective June 16, 2020, has been replenished with
499,171 shares of the Company's common stock, par value $0.0001 per
share.

These 499,171 shares are in addition to (a) the 2,222 shares of
Common Stock registered on the Company's Form S-8 filed on May 28,
2021 (File No. 333-256629), and (b) the 6,291 shares of Common
Stock registered on the Company's Form S-8 filed on April 13, 2022
(File No. 333-264276).  All of the share amounts presented reflect
the Company's 3-to-1 reverse stock split effective Sept. 8, 2021,
and the 75-to-1 reverse stock split effective Jan. 23, 2023.

The Inducement Award Plan is used exclusively for the grant of
equity awards to individuals who were not previously an employee or
non-employee director of the Company (or following a bona fide
period of non-employment) as an inducement material to such
individual's entering into employment with the Company in
accordance with Nasdaq Listing Rule 5635(c)(4).

                          About Jaguar Health

Jaguar Health, Inc. -- http://www.jaguar.health-- is a commercial
stage pharmaceuticals company focused on developing novel,
sustainably derived gastrointestinal products on a global basis.
The Company's wholly owned subsidiary, Napo Pharmaceuticals, Inc.,
focuses on developing and commercializing proprietary human
gastrointestinal pharmaceuticals for the global marketplace from
plants used traditionally in rainforest areas.  Its Mytesi
(crofelemer) product is approved by the U.S. FDA for the
symptomatic relief of noninfectious diarrhea in adults with
HIV/AIDS on antiretroviral therapy.

Jaguar Health reported a net loss of $48.39 million for the year
ended Dec. 31, 2022, compared to a net loss of $52.60 million for
the year ended Dec. 31, 2021. As of Dec. 31, 2022, the Company had
$47.45 million in total assets, $48.81 million in total
liabilities, and a total stockholders' deficit of $1.35 million.

Larkspur, California-based RBSM, LLP, the Company's auditor since
2021, issued a "going concern" qualification in its report dated
March 24, 2023, citing that the Company has an accumulated deficit,
recurring losses, and expects continuing future losses.  These
conditions raise substantial doubt about the Company's ability to
continue as a going concern.


JNJ HOME HEALTH CARE: Seeks to Hire Hickey & Hickey as Accountant
-----------------------------------------------------------------
JNJ Home Health Care, Inc. seeks approval from the U.S. Bankruptcy
Court for the Eastern District of New York to employ Hickey &
Hickey Accounting Consultants as its accountant.

The firm's services include:

     a. preparation or review of monthly operating reports and
statements of cash receipts and disbursements, including notes as
to the status of non-payroll related tax liabilities, when
possible, and other indebtedness;  

     b. preparation of compiled financial statements as of the date
of filing of Chapter 11 petitions;

     c. preparation of required state and federal tax filings;

     d. performing other duties required of an accountant,
including, but not limited to, the preparation of all financial
statements required in the Debtor's reorganization based on the
information provided by the Debtor.

As disclosed in court filings, Hickey & Hickey is a disinterested
person pursuant to Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Raquel E. Hickey
     Hickey & Hickey Accounting Consultants
     24 Drake Street
     Valley Stream, NY 11580
     Tel: 516-998-7410   
     Fax 516-726-4350
     Email: Roberta@HickeyandHickey.com

                      About JNJ Home Health Care

JNJ Home Health Care, Inc. is a provider of home healthcare
services in Brooklyn, N.Y.

JNJ Home Health Care sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. N.Y. Case No. 23-41382) on April 24,
2023. In the petition signed by its chief executive officer, Caren
D. Serieux-Bazelais, the Debtor disclosed $1,616,300 in assets and
$3,550,540 in liabilities.

Judge Jil Mazer-Marino oversees the case.

The Debtor tapped the Law Office of James J. Rufo as bankruptcy
counsel; the Law Office of Charles A. Higgs as special
litigation counsel; and Hickey & Hickey Accounting Consultants as
accountant.


KEITH STRANGE: Court OKs Interim Cash Collateral Access
-------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Arkansas,
Central Division, authorized Keith Strange LLC to use cash
collateral on an interim basis in accordance with the budget.

The Debtor requires the use of cash collateral to meet its working
capital and business operation needs so it may continue to operate.


On November 14, 2016, for value received, the Debtor executed and
delivered to Bayfirst a Note and Security Agreement whereby the
Debtor granted Bayfirst a security interest in and to, inter alia,
all of the Debtor's accounts and accounts receivable.

On November 4, 2016, Bayfirst filed a UCC Financing Statement to
perfect its security interest in and to the Collateral, and on
September 15, 2021, Bayfirst filed a UCC Financing Statement
Amendment for the purpose of continuing its original UCC Financing
Statement.

The Debtor will provide Bayfirst adequate protection in the form
of:

     (i) a lump sum payment of $12,718 within five business days of
entry of the Order; and

    (ii) ongoing monthly payments in the amount of $3,101 to be
paid on the 1st day of each month until the earliest of the entry
of final order on the Motion, confirmation of a proposed plan of
reorganization or liquidation, conversion of the case to a case
under Chapter 7, or dismissal of the case; provided, however, all
payments made by the Debtor to Bayfirst will be applied towards the
reduction of Bayfirst's claim against the Debtor.

A copy of the order is available at https://urlcurt.com/u?l=jBXJ9J
from PacerMonitor.com.

                      About Keith Strange LLC

Keith Strange LLC sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Ark. Case No. 23-10357) on February 9,
2023. In the petition signed by Keith Strange, manager, the Debtor
disclosed up to $50,000 in assets and up to $1 million in
liabilities.

Judge Richard D. Taylor oversees the case.

Frank H. Falkner, Esq., at Dilks Law Firm, represents the Debtor as
legal counsel.



KENROCK ENTERPRISES: Unsecureds Owed $240K to Get Full Amount
-------------------------------------------------------------
Kenrock Enterprises LLC and Rockwood Music Corporation propose a
Joint Chapter 11 (Subchapter V) Plan of Reorganization.

The Debtors' principal and sole member and manager is Ken Rockwood,
who has been in the entertainment business for most of his adult
life. Mr. Rockwood has developed a strong loyalty with various
artists, who have offered to perform a series of benefit concerts
during the upcoming summer months in an effort to "Save Rockwood"
(the "Benefit Concerts"). The Debtors project that the Benefit
Concerts will generate sufficient available cash to emerge from
Chapter 11 in the total sum of between $500,000 to $600,000. Based
upon the anticipated cash revenues from the Benefit Concerts, the
Debtors are filing this Plan for consideration by the Court and the
creditors.

Under the Plan, Class 5 General Unsecured Trade Claims total
$240,432.  Each holder of an Allowed General Unsecured Claim shall
be paid up to the full amount of its Allowed Claim from Disposable
Cash over a period of up to 48 months commencing on the Effective
Date of the Plan. Class 5 is impaired.

The Plan will be funded from Available Cash, plus future disposable
income. The Debtor projects that the Available Cash of $500,000 to
$600,000 will be available on the Effective Date of the Plan from
the proceeds of the Benefit Concerts.

The Debtors have negotiated with the Landlord for a modification of
the existing leases at reduced rent and received various
accommodations from NYS concerning deferred payments of sales tax.
Thus, the Debtors are optimistic about their ability to
successfully emerge from bankruptcy, giving added meaning to the
concept that "rock and roll will never die".

Attorneys for the Debtors:

     Kevin J. Nash, Esq.
     GOLDBERG WEPRIN FINKEL GOLDSTEIN LLP
     125 Park Avenue, 12th Floor
     New York, NY 10017

A copy of the Plan of Reorganization dated May 10, 2023, is
available at https://bit.ly/3W9qqRF from PacerMonitor.com.

                    About Kenrock Enterprises

Kenrock is a promoter of performing arts, sports, and similar
events.

New York-based Kenrock Enterprises LLC and affiliate Rockwood Music
Corporation sought Chapter 11 protection (Bankr. S.D.N.Y. Case Nos.
23-10197 and 23-10198) on Feb. 9, 2023.

Kenrock Enterprises estimated $1 million to $10 million in assets
and liabilities as of the bankruptcy filing.

The Debtors tapped GOLDBERG WEPRIN FINKEL GOLDSTEIN LLP as
counsel.

On Feb. 15, 2023, Heidi Sorvino was appointed as the Subchapter V
trustee in the Chapter 11 cases.


KJ TRADE: Seeks OK to Expand Scope of ATAGCPA's Services
--------------------------------------------------------
KJ Trade Ltd, Inc. filed with the U.S. Bankruptcy Court for the
Northern District of Georgia an application to authorize Accounting
& Tax Advisory Group to provide additional services.

The court previously approved the Debtor's employment of the
accounting firm to prepare its operating reports and provide other
accounting services. The Debtor wishes to engage the firm to assist
with additional set up required by its third-party sales tax
processor and manually process returns in the interim.

The firm will charge a fee of $15,000 for the additional services.


As disclosed in court filings, Accounting & Tax Advisory Group is a
"disinterested person" pursuant to Section 101(14) of the
Bankruptcy Code.

The firm can be reached through:

     Riolene Ibok
     Accounting & Tax Advisory Group
     555 North Point Center East, Suite 400
     Alpharetta, GA30022
     Phone: (770) 558-6338
     Fax: (678) 264-5565
     Email: info@atagcpa.com

                     About KJ Trade Ltd Inc.

KJ Trade Ltd Inc. is an affordable, luxury lifestyle women's
swimwear e-commerce brand doing business as Matte Collection.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ga. Case No. 23-51681) on February
21,
2023. In the petition signed by Justinz Wilkerson, chief executive
officer, the Debtor disclosed up to $500,000 in assets and up to
$10 million in liabilities.

Judge Jeffery W. Cavender oversees the case.

The Debtor tapped Leslie M. Pineyro, Esq., at Jones & Waldern LLC
as legal counsel and Riolene Ibok, CPA, at Accounting & Tax
Advisory Group, PC as accountant.


KUBERLAXMI LLC: Amends Celtic Bank Secured Claim Pay
----------------------------------------------------
Kuberlaxmi LLC submitted a Second Amended Subchapter V Plan of
Reorganization dated May 18, 2023.

This Second Amended Plan of Reorganization proposes to pay
creditors of the Debtor from cash flow from future operations.

The Plan generally provides for (I) the full payment of priority
claims including secured property tax claims, (2) the restructuring
of the indebtedness owed to Celtic Bank, the purported first lien
holder with respect to the hotel property, and the treatment of the
allowed secured claim of Celtic Bank, and (3) then the dedication
of the Debtor's net disposable income.

Class 2 consists of the claim of Celtic Bank. The allowed secured
claim of Celtic Bank will be set at $1,580,000 in accordance with
an appraisal of the property dated April 4, 2022 commissioned by
Celtic Bank, will accrue interest at the rate of 5.75% per annum on
a 25-year amortization, and will be paid during (i) months 1-18 in
the amount of $7,571.00 per month (the "Celtic Payment") and (ii)
during months 18-36 the Celtic Payment will increase by 25% for
each payment, with payments under the foregoing commencing on the
first full day of the of the first full calendar month following
the Effective Date.

All remaining outstanding amounts will be due and payable (i.e. a
balloon payment) on the first day of the 37th full calendar month
after the Effective Date. Celtic Bank will retain all security
interests and liens through completion of the payments described
above. The nonmonetary provisions of the Promissory Note, Security
Agreement, and other loan and security documents entered into
between the Debtor and Celtic Bank (the "Existing Loan Documents")
will otherwise remain in effect except as modified by the Plan.

Celtic Bank will not seek to enforce any of the obligations or
remedies with respect to any personal guaranty of each of Jatin
Bhakta and/or Priyah Bhakta so long as the Debtor is in compliance
with the Plan and the Existing Loan Documents. For the avoidance of
doubt, for purposes of this provision, any cure accomplished by the
Debtor under the cure provision will count as compliance under
terms of the Plan with respect to the personal guaranties.

The Debtor by September 30, 2024, must undertake all actions
necessary to have completed any necessary repairs and to make
rentable the 20-21 rooms that are currently unrentable due winter
storm related damages. If revenue improves, the Debtor will
endeavor to employ a third-party management company. The Debtor
will provide Celtic Bank with email updates at least once a month
on the progress in retaining and/or the ability to retain a
third-party management company.

Class 3 consists of General Unsecured Claims. As set forth in
KUB302, the Class 3 general unsecured creditors consist of general
unsecured claims asserted in aggregate amount of approximately
$740,501, which includes the Celtic Bank deficiency claim. The
holders of allowed claims in Class 3 will receive a pro rata
distribution of the net disposable income of the Debtor each month
after the satisfaction of the Plan payments and operating expenses
of the Debtor, for period of 60 months after the Effective Date,
with a distribution occurring at the end of each calendar quarter
commencing with the first full calendar order following the
Effective Date.

Payments and distributions under the Plan will be funded by the
income from the normal operations of the Debtor, and consisting of
operations of the Hotel Property.

Jatin Bhakta will devote a majority of his to be on-site at the
Hotel Property when the hotel lacks a full time on site qualified
manager. The Debtor will seek to further increase its long-term
stays by increasing marketing to local industry which bring large
numbers of workers in and out of the Kirksville area. If sufficient
revenues exist, the Debtor could employ a third-party management
company to manage day-to-day operations and to supplement the
marketing efforts of Mr. Bahkta.

A full-text copy of the Second Amended Subchapter V Plan dated May
18, 2023 is available at https://urlcurt.com/u?l=YNDTrN from
PacerMonitor.com at no charge.

Counsel to the Debtor:

     Jeff Carruth, Esq.
     Weycer, Kaplan, Pulaski, & Zuber, P.C.
     3030 Matlock Rd., Suite 201
     Arlington, Texas 76015
     Phone: (713) 341-1058
     Facsimile: (866) 666-5322
     Email: jcarruth@wkpz.com

                     About Kuberlaxmi LLC

Kuberlaxmi, LLC is engaged in the business of hospitality and
related services. It owns and operates a 60-room hotel located at
1101 Country Club Dr., Kirksville, Mo.

Kuberlaxmi sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. W.D. Texas Case No. 22-51323) on Nov. 26,
2022. In the petition signed by its manager, Jatin Bhakta, the
Debtor disclosed up to $50,000 in assets and up to $1 million in
liabilities.

Judge Michael M. Parker oversees the case.

Jeff Carruth, Esq., at Weycer, Kaplan, Pulaski and Zuber, P.C. and
Stephen W. Cook, CPA, PLLC serve as the Debtor's legal counsel and
accountant, respectively.


LEADING LIFE: To Seek Plan Confirmation on June 28
--------------------------------------------------
Leading Life Senior Living, Inc., sought and obtained an order
conditionally approving the adequacy of the disclosure statement
explaining its Chapter 11 Plan.

Judge Mark X. Mullins ordered that the Disclosure Statement is
conditionally approved for purposes of soliciting the Plan.

A combined hearing on the adequacy of the Disclosure Statement and
confirmation of the Plan will be held on June 28, 2023 at 1:30
p.m., prevailing Central Time.

The voting record date for all claims is May 24, 2023.

The deadline for creditors to submit ballots to vote on the
confirmation of the Plan shall be June 21, 2023 at 5:00 p.m.
prevailing Central time.  The Debtor may extend this deadline for
cause, in its discretion, in consultation with the Indenture
Trustee.

All objections and responses to the adequacy of the Disclosure
Statement or the confirmation of the Plan must be filed with the
Court no later than June 21, 2023 at 5:00 p.m., prevailing central
time.

Counsel for the Debtor:

     Rachael L. Smiley, Esq.
     Alex Campbell, Esq.
     FERGUSON BRASWELL FRASER KUBASTA PC
     2500 Dallas Parkway, Suite 600
     Plano, TX 75093
     Tel: (972) 378-9111
     Fax: (972) 378-9115
     E-mail: rsmiley@fbfk.law
             acampbell@fbfk.law

               About Leading Life Senior Living

Leading Life Senior Living, Inc. is a not-for-profit Texas
corporation that owns two memory care facilities in Oklahoma.  The
facilities were purchased in 2017 by the Debtor from Edmond Memory
Care, LLC and Southwest Oklahoma City, LLC. The Edmond facility was
opened in 2014 and has 42 beds. The Oklahoma City facility was
opened in 2015 and has 44 beds.

Leading Life Senior Living sought protection under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. N.D. Texas Case No. 22-42784) on
Nov. 18, 2022.  In the petition signed by its chief restructuring
officer, Joseph V. Pegnia, the Debtor disclosed $10 million to $50
million in assets and $10 million to $50 million in liabilities.

Judge Mark X. Mullins oversees the case.

Ferguson, Braswell, Fraser, Kubasta, P.C. and GlassRatner Capital &
Advisory Group, LLC, doing business as B. Riley Advisory Services,
serve as the Debtor's legal counsel and restructuring advisor,
respectively. Joseph V. Pegnia, managing director at GlassRatner,
is the Debtor's chief restructuring officer. Omni Agent Solutions
is the claims agent.


LS PARENT: S&P Affirms 'B-' ICR on Continued Cash Generation
------------------------------------------------------------
S&P Global Ratings affirmed all of its ratings, including its 'B-'
issuer credit rating on U.S.-based legal and identity theft service
provider LS Parent Corp.

The stable outlook reflects S&P's view the company will continue to
generate healthy FOCF above $40 million and maintain leverage
around mid-7x over the next 12 months.

S&P believes LS Parent will use excess cash to reduce outstanding
debt but could also fund potential acquisitions given the current
market environment.

FOCF slightly surpassed our expectation in fiscal 2022. The company
generates good cash flow, reflecting its subscription-based
revenues with low capital expenditure (capex) and working capital
requirements. This has led to a sizeable cash balance of about $92
million as of Dec. 31, 2022. S&P said, "It generated about $41
million of FOCF in fiscal 2022 compared with our previous
expectation of $40 million. We expect FOCF to increase to around
$44 million in 2023 given lower spend on advertising, staff, and
capex. Historically, the company has used excess cash to
opportunistically repay debt, and we expect the company to continue
doing so periodically, which should help reduce its interest
burden. Still, we think the challenging macroeconomic environment
will continue to pressure small- to midsized businesses and present
possible acquisition opportunities for the company to accelerate
growth in certain sales channels or geographies. Future
acquisitions could pressure ratings if pursued prior to improving
its debt-service capacity or if an acquisition materially increases
leverage. We believe LS Parent is unlikely to use cash for material
shareholder distributions over the next 12 months, as we believe
the company's $415 million debt-funded dividend in 2021 largely
satisfied ownership return expectations in the near term."

The company partially mitigated its exposure to rising interest
rates, and S&P expects interest coverage will not fall below its
1.5x downgrade threshold over the next 12 months.

S&P Global Ratings-adjusted EBITDA interest coverage decreased to
1.7x from 3.3x in fiscal 2022, given a significant increase in the
company's interest expense due to rising interest rates throughout
the year. The company recently entered into additional interest
rate swap agreements that will save about $4 million of annual
interest expense. Also, it currently has a high cash balance, which
it can use to repay debt and lower interest expense. S&P said,
"Although we expect challenges in membership growth and retention
in 2023 amid a mild recession, we expect the company will have
sufficient EBITDA growth and cash generation to fully cover its
interest payments over the next 12 months. However, we believe
weakening interest coverage could occur if the company prioritizes
acquisitions or if membership performance underperforms our base
case, as we continue to view prepaid legal services and identity
theft protection as discretionary purchases that each reside in
highly competitive markets with low switching costs."

S&P believes margins will expand in fiscal 2023 due to ongoing cost
reduction initiatives and strategic pricing actions despite weaker
membership growth.

S&P said, "We forecast S&P Global Ratings-adjusted EBITDA margin to
expand about 270 basis points (bps) to 29.4% in fiscal 2023 driven
by cost cuts made across the business and, to a lesser extent,
additional price increases throughout the year. Throughout 2022,
the company reduced advertising and customer acquisition costs in
its direct-to-consumer segment, which has grown over the past
several years but still accounts for a minority portion of new
memberships. Also, the company made notable headcount reductions in
early 2023, and we believe the associated cost savings will drive
improvement in selling, general, and administrative (SG&A) expense
for the year.

"The company began its selective price increases at the end of 2020
and has incrementally raised prices since then. We believe this
will partially offset expected membership challenges in 2023.
Furthermore, we think execution risk is low given that the company
has seen success in testing and refining different pricing actions
across its member base over the last several years.

"The stable outlook reflects our view the company will continue to
generate healthy FOCF of above $40 million and can maintain
leverage around mid-7x over the next 12 months."

S&P could lower its rating if the company's capital structure
becomes unsustainable. This could occur if:

-- Membership declines from either higher cancelations or
increasing competition, leading to declining revenue, poor
profitability, and weaker cash flow generation;

-- It cannot effectively manage customer acquisition costs,
mitigate rising interest rates, or offset inflation, leading to
EBITDA interest coverage falling below 1.5x and negative cash flow
generation; or

-- Its financial policy becomes even more aggressive, and the
company continues to undertake debt-funded acquisitions or
shareholder returns while credit metrics are depressed.

S&P could upgrade its rating if:

-- The financial policy becomes less aggressive, and we forecast
leverage sustained below 7x; and

-- The company prioritizes debt repayment instead of aggressive
financial policy, including shareholder-friendly activities and
debt-funded acquisitions, and operates with sustained lower
leverage.

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

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



MANCUSO MOTORSPORTS: Cash Collateral Access OK'd Thru July 28
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois,
Eastern Division, authorized Mancuso Motorsports, Inc. to use cash
collateral on an interim basis in accordance with the budget, with
a 10% variance, through July 28, 2023.

In return for the Debtor's continued interim use of cash
collateral, these parties are granted adequate protection for their
purported secured interests in cash collateral equivalents,
including the Debtor's cash, accounts receivable and inventory,
among other collateral:

      Byline Bank
      Ryan Daube, as trustee of the Ryan Daube Trust
      DFK Direct Investments, LLC
      DFK Group, Inc.
      DFK Direct, LLC
      Francis Roti
      Ryan Daube
      Rob Mancuso

The Debtor will maintain and pay premiums for insurance to cover
the Collateral from fire, theft and water damage.

The Secured Parties are granted replacement liens, attaching to the
Collateral, but only to the extent of their pre-petition liens,
with any valid liens attaching to the Collateral and its proceeds
until further Order of Court.

A further interim hearing on the matter is set for July 25 at 10
a.m.

A copy of the Court's order and the Debtor's budget is available at
https://urlcurt.com/u?l=EUfVsc from PacerMonitor.com.

The Debtor projects total cash out, on a weekly basis, as follows:

     $39,199 for the week ending May 26, 2023;
    $173,687 for the week ending June 2, 2023;
     $41,678 for the week ending June 9, 2023;
    $119,366 for the week ending June 16, 2023;
     $58,567 for the week ending June 23, 2023; and
    $173,371 for the week ending June 30, 2023.

                 About Mancuso Motorsports, Inc.

Mancuso Motorsports, Inc. is a privately held company that provides
automotive repair and maintenance services.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ill. Case No. 22-14513) on December
16, 2022. In the petition signed by Jackie Cahan, CFO and COO, the
Debtor disclosed up to $10 million in both assets and liabilities.

Judge Donald R. Cassling oversees the case.

Scott R. Clar, Esq., at Crane, Simon, Clar & Goodman, serves
ascounsel to the Debtor.



MAVIS TIRE: S&P Affirms 'B-' ICR on Announced Acquisition
---------------------------------------------------------
S&P Global Ratings affirmed its 'B-' issuer credit rating on Mavis
Tire Express Services TopCo L.P. (Mavis), its 'B-' issue-level
rating on its secured debt, and 'CCC' issue-level rating on its
unsecured notes. The recovery ratings are unchanged.

The stable outlook reflects S&P's expectation for sales and
earnings growth as Mavis integrates acquired stores and opens new
locations resulting in modest deleveraging over time from very high
levels.

Mavis announced plans to acquire NTB-Tire Service Centers and Tire
Kingdom from TBC Corp. (TBC).

Mavis' aggressive debt-financed acquisition strategy is fueling
growth but keeping leverage very high. Mavis' purchase of NTB and
Tire Kingdom marks its largest acquisition by store count and
revenue to date. Since 2018, the company has executed over $1.3
billion in largely debt-financed acquisitions, growing to become
one of the largest independent tire retailers in the U.S. S&P said,
"Incorporating the incremental earnings from the acquired
operations, we project S&P Global Ratings' adjusted debt to EBITDA
will be in the high 7x range area at the end of 2023, down from
8.8x at the end of 2022. We expect leverage will remain elevated in
2024, but improve to around 6.5x, driven by organic growth,
acquisition integrations, and improving operating efficiency. In
our view, governance considerations stemming from Mavis' majority
financial-sponsor ownership and its aggressive acquisition strategy
decreases the likelihood of sustained lower leverage levels. These
considerations and the very high projected S&P Global Ratings'
leverage (overall and relative to peers like LS Group OpCo
Acquisition LLC) lead us to maintain the negative comparative
rating analysis modifier."

The acquisition enhances Mavis' scale and presence in important
growth markets. Mavis' acquisition strategy has accelerated its
scale and broadened its geographic reach, supporting purchasing
efficiencies and brand-name recognition. The acquisition of NTB and
Tire Kingdom will add 596 locations, increasing Mavis' footprint to
nearly 2,000 company operated stores across 39 states in the U.S.
The acquired TBC operations have greater penetration in both Texas
and Florida, states that have exhibited growing population and
should help future tire and automotive service sales. S&P believes
Mavis will continue to pursue a dual approach to consolidation,
acquiring both small independent operations and opportunistic
larger industry players, as the industry remains highly fragmented.
While Mavis' track record of integration is good, its aggressive
growth strategy presents continued risks.

S&P said, "We forecast margin pressure in 2023 in part due to the
TBC acquisition. We project Mavis' revenue will approach $4 billion
in 2023, reflecting the combined operations of NTB and Tire
Kingdom, new store openings and modestly positive same-store sales
growth. However, we expect S&P Global Ratings' adjusted EBITDA
margins will compress about 200 basis points (bps) this year,
largely because of the integration of the acquisition. TBC is
primarily a wholesale distributor and the acquired stores generate
lower sales on a per store basis and weaker margins compared to
Mavis. We expect Mavis to capture procurement and other
efficiencies at the integrated stores over time and believe
management will execute its sourcing and efficiency efforts,
driving margin improvement in 2024.

"Availability under Mavis' upsized revolving credit facility and
our projection for modestly positive free operating cash flow
supports its adequate liquidity. Despite the high leverage, we
expect Mavis will maintain a sustainable balance sheet. This
includes no meaningful projected borrowings under the $500 million
revolving credit facility aside from seasonal borrowings or funding
of small tuck-in acquisitions. Mavis will likely generate modest
reported free operating cash flow over the next two years including
around $20 million this year. Our projections are inclusive of
meaningful ongoing business investment to fund growth and store
initiatives. Still, we believe the company has limited maintenance
capex needs of about $30 million annually. While not incorporated
in our base case, we also think management could reduce growth
investments and generate higher levels of free operating cash
flow.

"The stable outlook reflects our expectation for continued growth
in sales and S&P Global Ratings' adjusted EBITDA will lead to S&P
Global Ratings' adjusted leverage approaching the 8x area for the
next year inclusive of anticipated integration of acquisitions."

S&P could lower the rating on Mavis if:

-- The company is unable to profitably execute its acquisition and
growth strategies, leading to pressured sales and EBITDA margins;
and

-- S&P expects the company to generate sustained negative free
operating cash flow (FOCF) absent growth investments.

S&P could raise the rating on the company if:

-- S&P expects adjusted leverage to improve to around 6x on a
sustained basis, a level likely supported by a shift in financial
policy; and

-- Good operating performance that drives improving free operating
cash flow generation inclusive of growth investments.

Environmental, Social, And Governance

Governance is a moderately negative consideration, as is the case
for most rated entities owned by private-equity sponsors. S&P
believes Mavis Tire's highly leveraged financial risk profile
points to corporate decision-making that prioritizes the interests
of the controlling owners. This also reflects the generally finite
holding periods and a focus on maximizing shareholder returns.



MDWERKS INC: Auditor Discovers Errors in 2022 Financial Statements
------------------------------------------------------------------
M&K CPAS, PLLC, MDwerks, Inc.'s independent registered public
accounting firm, notified the Company that the Company's balance
sheet as of Dec. 31, 2022, and the related statements of
operations, statement of changes in stockholders' equity (deficit),
and cash flows included in the Company's Annual Report on Form
10-K, filed with the Securities and Exchange Commission on March
27, 2023 should be restated and should no longer be relied upon.

Subsequent to the Company's filing of the 10-K, it was discovered
that a bank account of the Company was not included in the 10-K,
and the Company determined that the errors required adjustment of
2022 Financial Statements.  This led to an understatement of
certain expenses and an understatement of the Company's cash
balance.

The Company and M&K determined that the reporting effects of the
above errors had a material impact to the 2022 Financial Statements
included in the 10-K.  As a result, the 2022 Financial Statements
will be restated, and the Company will file an amendment to the
10-K with the SEC.

The Company's management concluded that in light of the errors
mentioned above, a material weakness existed in the Company's
internal control over financial reporting as of Dec. 31, 2022, and
the Company's disclosure controls and procedures were not effective
as of Dec. 31, 2022.

                            About MDWerks

MDwerks, Inc. is a public shell company seeking to create value for
its shareholders by merging with another entity with experienced
management and opportunities for growth in return for shares of its
common stock.

MDwerks reported a net loss of $136,721 for the year ended Dec. 31,
2022, compared to net income of $37,976 for the year ended Dec. 31,
2021.  As of Dec. 31, 2022, the Company had zero asset, $128,075 in
total liabilities, and a total stockholders' deficit of $128,075.

Houston, Texas-based M&K CPAS, PLLC, the Company's auditor since
2022, issued a "going concern" qualification in its report dated
March 27, 2023, citing that the Company has suffered net losses
from operations and a deficit in equity, which raises substantial
doubt about its ability to continue as a going concern.


MEDME SERVICES: Unsecureds Owed $6K+ Will Get 27.81% in 36 Months
-----------------------------------------------------------------
MEDME Services Corporation filed with the U.S. Bankruptcy Court for
the Western District of Texas a Subchapter V Plan of Reorganization
dated May 18, 2023.

The Debtor was formed February 3, 2005 to operate as a medical
billing company and a provider of "off the shelf" medical equipment
to patients and clinics.

The Debtor filed Chapter relief to keep its doors open and try to
recover the receivables it was owed, before they went out of date.
The Debtor continues in operation.

Class 3 consists of all allowed general unsecured claims under the
amount of $6,000.00. The Class members shall be paid a dividend of
42.2% in two installments, six months apart, on September 1, 2023
and March 1, 2024, each time sharing pro rata in a pool of
$1,925.00. Class 3 creditors are impaired.

Class 4 consists of General unsecured claims of $6,000.00 or more.
Class 4 has total claims of $947,525.63. The dividend to this Class
is 27.81%. The Class will be paid in sixty monthly installments of
$4,393.75 each over a five-year period. The class members shall
share ratably in the resulting monthly payments and pool of
$263,625.00. Payments shall be made on the 15th day of each month
starting June 15, 2023. Class 4 creditors are impaired.

The Debtor shall retain its accounts receivable, its inventory of
medical prosthetics, beds, and supplies, its three vehicles, and
its lease location.

Sandra Juarez, president and sole shareholder of the Debtor, will
retain her stock.

A full-text copy of the Subchapter V Plan dated May 18, 2023 is
available at https://urlcurt.com/u?l=IBrMZZ from PacerMonitor.com
at no charge.

Attorney for the Debtor:

     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 was formed February 3, 2005 to operate
as a medical billing company and a provider of "off the shelf"
medical equipment to patients and clinics.

MEDME Services Corp 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.


MULTEC INDUSTRIAL: Seeks to Hire Jones & Walden as Legal Counsel
----------------------------------------------------------------
Multec Industrial Packaging, Inc. seeks approval from the U.S.
Bankruptcy Court for the Northern District of Georgia to hire Jones
& Walden, LLC as its legal counsel.

The firm's services include:

     (a) preparing pleadings and applications;

     (b) conducting examination;

     (c) advising the Debtor of its rights, duties and
obligations;

     (d) consulting with and representing the Debtor with respect
to a Chapter 11 plan;

     (e) performing legal services incidental and necessary to the
day-to-day operations of the Debtor's business; and

     (f) taking all other actions incident to the proper
preservation and administration of the Debtor's estate and
business.

The firm will be paid at these rates:

     Attorneys    $250 - $450 per hour
     Paralegals   $110 - $200 per hour

Leslie Pineyro, Esq., a partner at Jones & Walden, 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:

     Leslie M. Pineyro, Esq.
     699 Piedmont Ave. NE
     Atlanta, GA 30308
     Phone: (404) 564-9300
     Email: lpineyro@joneswalden.com

                      About Multec Industrial

Multec Industrial Packaging, Inc. filed a petition under Chapter
11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ga. Case No.
23-10535) on May 8, 2023, with as much as $50,000 in assets and
$100,001 to $500,000 in liabilities. John Whaley, a certified
public accountant, has been appointed as Subchapter V trustee.

Judge Paul Baisier oversees the case.

The Debtor is represented by Leslie M. Pineyro, Esq., at Jones and
Walden, LLC.


MUSIC GETAWAYS: Court OKs Cash Collateral Access Thru May 30
------------------------------------------------------------
The U.S. Bankruptcy Court for the District of California, Northern
Division, authorized Music Getaways LLC to use cash collateral on
an interim basis in accordance with the budget through May 30,
2023, except that no adequate protection payment is to be made to
Alternative Funding Group Corp.

The Court said Alternative Funding Group Corp. and Wynwood Capital
are to be granted replacement liens to the same extent, validity
and priority as each of these parties held on the petition date.

A continued hearing on the matter is set for May 30, 2023 at 2
p.m.

A copy of the order is available at https://urlcurt.com/u?l=001qYW
from PacerMonitor.com.

                  About Music Getaways LLC

Music Getaways LLC arranges and schedules music events. It was
formed in 2019. The majority of the Company's events were held at
Hard Rock Hotels, and the Company received a contract with Hard
Rock Hotels to produce shows for their time share customers.

Music Getaways sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. C.D. Cal. Case No. 23-10256) on April 6,
2023. In the petition signed by Warren D. Hill, managing member,
the Debtor disclosed up to $100,000 in assets and up to $10 million
in liabilities.

Judge Ronald A. Clifford III oversees the case.

The Law Offices of Michael Jay Berger represents the Debtor as
legal counsel.



NATIONAL REALTY: August 1 Plan Confirmation Hearing Set
-------------------------------------------------------
National Realty Investment Advisors, LLC, and its Debtor Affiliates
together with the Official Committee of Unsecured Creditors filed
with the U.S. Bankruptcy Court for the District of New Jersey a
motion for entry of an order approving the Disclosure Statement for
the Joint Chapter 11 Plan of the Debtors.

On May 18, 2023, Judge John K. Sherwood granted the motion and
ordered that:

     * August 1, 2023 at 10:00 a.m. is the date for the
Confirmation Hearing.

     * July 11, 2023 at 5:00 p.m. is the deadline for filing and
serving Plan Objections.

     * July 25, 2023 is the deadline for the Plan Proponents or any
other party supporting Confirmation of the Plan to file a response
to any Plan Objections.

     * June 29, 2023 is the deadline for the Plan Proponents to
file the Plan Supplement.

A full-text copy of the order dated May 18, 2023 is available at
https://urlcurt.com/u?l=uh3IkY from Omni Agent Solutions, claims
and noticing agent.

Counsel to the Debtors:

     SILLS CUMMIS & GROSS, P.C.
     S. Jason Teele, Esq.
     Daniel J. Harris, Esq.
     Gregory A. Kopacz, Esq.
     One Riverfront Plaza
     Newark, New Jersey 07102
     Telephone: (973) 643-7000

Counsel to the Official Committee of Unsecured Creditors:

     ICE MILLER LLP
     Louis T. DeLucia, Esq.
     Alyson M. Fiedler, Esq.
     1500 Broadway, 29th Floor
     New York, New York 10036
     Telephone: (212) 835-6312

     Daniel Polatsek, Esq.
     Michael W. Ott, Esq.
     200 W. Madison St., Suite 3500
     Chicago, Illinois 60606
     Telephone: (312) 726-6245

                About National Realty Investment

National Realty Investment Advisors, LLC is a luxury-homes
developer based in Secaucus, N.J.

National Realty Investment Advisors and 102 affiliates, including
NRIA Partners Portfolio Fund I, LLC, sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. D.N.J. Lead Case No.
22-14539) on June 7, 2022.  

In the petition filed by its independent manager, Brian Casey,
National Realty Investment Advisors listed up to $50,000 in both
assets and debt. NRI Partners Portfolio listed assets between $50
million and $100 million and liabilities between $500 million and
$1 billion.

Judge John K. Sherwood oversees the cases.

S. Jason Teele, Esq., at Sills Cummis & Gross P.C., is the Debtors'
counsel.  Omni Agent Solutions is the claims and noticing agent.

The U.S. Trustee for Regions 3 and 9 appointed an official
committee of unsecured creditors on June 30, 2022. The committee is
represented by Ice Miller, LLP.


NATURE COAST: Disclosures Hearing Continued to June 29
------------------------------------------------------
Judge Karen K. Specie has entered an order that the Hearing on
Nature Coast Development Group, LLC's Amended Disclosure Statement
scheduled for May 18, 2023 is canceled, and will be continued to a
date not less than 3 weeks after May 18, 2023.

According to a May 11 notice, the hearing on the Amended Disclosure
Statement is now scheduled for June 29, 2023, at 10:00 AM (Eastern
Time) at/via ZOOM.

Interested parties must file and serve written objections to
Debtor's Amended Disclosure Statement at least 7 days before the
continued hearing date.

                About Nature Coast Development Group

Nature Coast Development Group, LLC, a company in Fanning Springs,
Fla., filed a petition for relief under Subchapter V of Chapter 11
of the Bankruptcy Code (Bankr. N.D. Fla. Case No. 22-10200) on Dec.
14, 2022. In the petition filed by its managing member, Marites
Padot, the Debtor reported assets between $10 million and $50
million and liabilities between $1 million and $10 million. Jodi D.
Dubose has been appointed as Subchapter V trustee.

Judge Karen K Specie oversees the case.

The Debtor is represented by Latham, Shuker, Eden, & Beaudine, LLP.


NEW TROJAN: S&P Downgrades ICR to 'CCC+', Outlook Negative
----------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on U.S.-based
New Trojan Parent Inc. (New Trojan) to 'CCC+' from 'B-', indicating
its view that the capital structure has become unsustainable.

S&P also lowered its issue-level ratings on the company's
first-lien debt (revolving and term) and second-lien term loan to
'CCC+' and 'CCC-', respectively.

S&P said, "The recovery rating of '3' on the first-lien debt is
unchanged, indicating our expectation for meaningful (50%-70%;
rounded estimate: 50%) recovery in the event of default. The
recovery rating of '6' on the second-lien term loan is also
unchanged, indicating our expectation for negligible (0%-10%;
rounded estimate: 0%) recovery in the event of payment default.

"The negative outlook reflects our expectation that EBITDA will
remain pressured and cash flow deficits will continue in 2023 as
the company navigates a strategic turnaround that involves a supply
chain reinvention. We could lower our ratings over the next few
quarters if we believe a default--which could include a debt
restructuring or missed debt service payment--is likely within the
next 12 months."

The challenging operating environment and unfavorable macroeconomic
backdrop led to distressed credit ratios in 2022.

The medical apparel industry saw significant demand tailwinds
during the pandemic in 2020 and 2021, though the environment cooled
substantially in 2022. This was predominantly a result of slower
marketplace takeaway that led to substantial retailer inventory
destocking and inevitably slowed purchasing and replenishment. New
Trojan's largest retail customer significantly slowed purchasing
for a not insignificant period of time last year. This reflected
company-wide inventory management efforts compounded by an
accounts-receivable billing dispute, though S&P believes the issue
to be resolved and the business relationship improved. These
marketplace dynamics led to consolidated revenues contracting
roughly 4% compared to 2021. Moreover, New Trojan's costs ballooned
because of an expensive legal battle with a close industry rival
(resolved in October 2022), as well as a variety of other operating
expenses such as inventory obsolescence, distribution
inefficiencies, and elevated employee costs (severance and
workforce management). As a result, S&P Global Ratings-adjusted
EBITDA declined to roughly break-even levels in fiscal 2022.

S&P expects credit ratios will remain distressed in 2023 despite
better operating performance as retailer ordering increases and
significant nonrecurring operating expenses roll off.

S&P said, "Our base-case scenario contemplates an improved retailer
ordering environment, as well as volume growth in the
low-single-digit percentage area. We assume that most of the
operating performance recovery will occur in the second half of
this year, with the first quarter of 2023 remaining relatively
weak. The company is also immersed in supply chain reinvention
efforts that entail significant risk if not properly executed. We
believe that the company's suppliers should capture more of the
economics in the supply chain since they are assuming more of the
risks and responsibilities of delivering the end product. We
acknowledge that New Trojan intends to allocate more production to
its most efficient suppliers, but we do not expect distribution
efficiency gains to accrue to the company in the near term as the
shift occurs. It's also not clear whether the anticipated benefits
to New Trojan from supply chain consolidation will be enough to
offset probable higher supplier economics. Separately, we believe
the company will reign in a substantial amount of other operating
expenses and anticipate S&P Global Ratings-adjusted EBITDA margin
in the high-single-digit percentage area, although adjusted
leverage will remain very high at around 14x and EBITDA interest
coverage slightly below 1x in 2023.

"Given New Trojan's extremely weak performance in 2022 and our
expectations for continued distressed credit ratios in 2023, we
believe the company's capital structure has become unsustainable.
However, we do not believe a default--such as a distressed exchange
or missed debt service payment--over the next 12 months is likely.
Support from the company's financial sponsor Partners Group in the
form of a shareholder loan has provided some liquidity to operate
through a turnaround effort. New Trojan also secured a new
asset-based lending (ABL) facility that should provide an
additional borrowing base of roughly $16 million. Nevertheless, we
forecast a cash funds from operations (FFO) deficit over the next
12 months driven by substantial cash interest expense. We also
expect a free operating cash flow (FOCF) deficit of about $39
million in 2023, not turning positive until 2025. We note that New
Trojan's term debt maturities are longer dated — 2028 and 2029
for the first and second-lien, respectively. The company also
maintains interest rate swap hedges on approximately 69% of term
debt.

"The negative outlook reflects the potential for a lower rating
over the next few quarters if the company does not improve
profitability in-line with our expectations, or if liquidity
tightens further and we believe a default scenario--such as a debt
restructuring event or missed debt service payment--is likely
within the next 12 months." This could occur if:

-- Strategic efforts to create a more agile supply chain result in
lower margins or significant one-time costs;

-- Lost business from the company's top customer does not recover
as S&P expects; or

-- Share losses mount due to rapid growth of competitive rivals.

S&P could take a positive rating action if the company is able to
improve EBITDA interest coverage to about 1.5x and generate
positive FOCF. This could result if:

-- Retailer ordering patterns return to healthy, more predictable
levels;

-- New Trojan's relationship with its largest customer remains on
satisfactory terms; or

-- The company's efforts to improve its supply chain are
successfully implemented with minimal disruption.

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



NORTHWEST BANCORP: Trustee's Plan Disclosures Approved
------------------------------------------------------
The Amended Joint Chapter 11 Plan or Reorganization filed by
Catherine Steege, as chapter 11 Trustee for Northwest
Bancorporation of Illinois, Inc. and AmeriNational Community
Services LLC ("Plan Proponents"), as modified, having been
transmitted to creditors and equity security holders together with
a copy of the Disclosure Statement conditionally approved by the
court on February 23, 2023.

Judge Carol A. Doyle entered an order that the Disclosure Statement
filed by the Plan Proponents is approved on a final basis.

The Plan is amended as follows:

  a. Article I.A. is amended to include the following definitions:

     "Consulting Parties" means AmeriNat and Robert Hershenhorn.

     "Closing Date" means the date that is five (5) days following
the Regulatory Approval Date, but in any event the Closing Date
shall be no later than a date that is one hundred and seventy (170)
days after May 15, 2023.

     "Exculpated Claim" means any Claim, except one arising from
actual fraud, willful misconduct or gross negligence, related to
any post-petition act taken or omitted to be taken in connection
with, relating to, or arising out of the Chapter 11 Case, the
formulation, preparation, dissemination, negotiation, or filing of
the Disclosure Statement or the Amended Plan, or any contract,
instrument, release, or other agreement or document created or
entered into in connection with the Disclosure Statement or the
Amended Plan, the preparation, filing or administration of the
Chapter 11 Case, the pursuit of Confirmation, the pursuit of the
approval of the Regulators for Reorganization or Sale Transaction,
and the administration and implementation of the Amended Plan,
including the Distribution of property under the Amended Plan or
any other agreement.

     "Final Qualified Bid Deadline" means 3 p.m. prevailing Central
Time on the date that is sixty (60) days after May 15, 2023.

     "Initial Qualified Bid Deadline" means 3 p.m. prevailing
Central Time on the date that is forty-five (45) days after May 15,
2023.

     "Market Testing Transaction" means the transaction described
in amended Article IV, A.(1).

     "Market Testing Minimum Price" means a minimum net recovery to
the Estate of the greater of (i) Thirty Million ($30,000,000.00)
Dollars, and (ii) all Allowed Claims, including, without
limitation, post-petition interest and fees owing in respect of the
Senior TruPS and Junior TruPS and all Administrative Claims accrued
during the bankruptcy case.

     "Qualified Bid" means a bid for 100% of the equity Interests
in First Bank that satisfies the requirements of amended Article
IV, A.(1).

     "Regulatory Approval Date" means the date that is sixty (60)
days following the date on which the Winning Bidder receives
notification that its application for regulatory approval is
"substantially complete", but in any event the Regulatory Approval
Date shall be no later than a date that is 165 days after May 15,
2023.

     "Winning Bid" means the Qualified Bid selected by the Trustee
in connection with a Market Testing= Transaction.

     "Winning Bidder" means the Person making the Winning Bid.

   b. Article III is amended to include a new paragraph E:

     E. In the event that the Market Testing Transaction is
consummated, on the Effective Date the distributions to the Holders
of Allowed Claims or Interests in Classes 1-5 shall be made as if
the Sale Transaction had been consummated. The Allowed Claims of
the Holders of Class 2, 3, and 4 Claims shall be entitled to
recover all post-petition interest and fees at the contract rate
before any payment to the Holder of the Class 5 Interests.

   c. Article IV is amended to include a new paragraph A.(1):

     A.(1) Prior to the consummation of the Reorganization
Transaction, the Trustee will engage in the Market Testing
Transaction to determine if a higher and better offer for 100% of
the Interests in First Bank than that reflected in the
Reorganization Transaction can be realized. For the avoidance of
doubt under the Market Testing Transaction, all Allowed Claims
shall include post-petition interest and fees owing in respect of
the Senior TruPS and Junior TruPS. If the Market Testing
Transaction is consummated, pursuant to 11 U.S.C. §363(f), the
sale of 100% of the Debtor's equity Interests shall be free and
clear of any liens, claims, or interests in the Debtor's Interests
in First Bank. That market testing process shall be conducted in
accordance with the following procedures:

     1. On or before the Initial Qualified Bid Deadline, any Person
wanting to purchase 100% of the equity Interests in First Bank may
submit a Qualified Bid to the Trustee (attn: Catherine Steege and
Landon Raiford, Jenner & Block LLP, 353 N. Clark Street, Chicago,
IL 60654, csteege@jenner.com, lraiford@jenner.com) so that it is
received by the Initial Qualified Bid Deadline. In the event that
no Qualified Bid is received, the Plan Proponents shall begin
implementation of the Reorganization Transaction.

     2. A bid shall only be a Qualified Bid at the Initial
Qualified Bid Deadline if it meets the following requirements:

        a. The bid includes a form of Stock Purchase Agreement. The
Stock Purchase Agreement must satisfy the following criteria: (1)
the proposed purchase price must be at a minimum the Market Testing
Minimum Price and must be paid in full at cash on the Closing Date;
provided, however, if the bidder offers an amount in excess of the
Market Testing Minimum Price, the bidder may propose to pay the
amount in excess of the Market Testing Minimum Price over time; (2)
the closing may not be subject to any contingencies of any nature
whatsoever, including but not limited to due diligence or financing
contingencies, but may include a contingency based on regulatory
approval; (3) the Stock Purchase Agreement must be for the purchase
of the Debtor's equity Interests in First Bank; and (4) the
deadlines set forth in this Article IV, A.(1) must be included in
the Stock Purchase Agreement. The Trustee shall have in her sole
and absolute discretion, after consultation with the Consulting
Parties, the right to approve additional provisions to be included
in the Stock Purchase Agreement. Notwithstanding the foregoing, the
Trustee shall have no discretion to modify Stock Purchase Agreement
to: (a) include any conditions to closing other than regulatory
approval; (b) alter the Market Testing Minimum Price or the
requirement that the Market Testing Minimum Price must be a cash
offer paid on the Closing Date; or (c) change the deadlines set
forth in this Article VI. A.(1).

        b. The bidder shall include evidence satisfactory to the
Trustee that such bidder has the wherewithal and financial ability
to consummate its bid, the pro forma regulatory ratios that the
bidder proposes to maintain or achieve to obtain regulatory
approval, and any other assurance necessary to obtain regulatory
approval of the sale in accordance with the bid.

   3. The Trustee in her sole and absolute discretion, after
consultation with the Consulting Parties, shall determine whether
any bids that are received by the Initial Bid Deadline are
Qualified Bids. Following the Initial Qualified Bid Deadline, the
Trustee will negotiate with any bidders who have submitted a
Qualified Bid to finalize the terms of their proposed Stock
Purchase Agreements.

   4. On or before the Final Qualified Bid Deadline, each bidder
that submitted a Qualified Bid by the Initial Qualified Bid
Deadline may submit its final Qualified Bid to the Trustee (attn:
Catherine Steege and Landon Raiford, Jenner & Block LLP, 353 N.
Clark Street, Chicago, IL 60654, csteege@jenner. com,
lraiford@jenner.com) so that it is received by the Final Qualified
Bid Deadline. In addition to the requirements set forth in this
Article IV, A.(1), a certified or cashier's check or a wire
transfer of Two Million Dollars ($2,000,000.00) (the "Deposit")
shall be delivered with the bid and, if the bidder becomes the
Winning Bidder the deposit shall be nonrefundable except as set
forth below. The Deposit will be returned to any bidder that is not
a Winning Bidder no later than five (5) business days after the
Trustee selects another bid as the Winning Bid.

   5. In the event that no Qualified Bid is received by the Final
Qualified Bid Deadline, the Plan Proponents shall begin
implementation of the Reorganization Transaction. If only one
Qualified Bid is received, that bid shall be the Winning Bid. If
more than one Qualified Bid is received, the Trustee will determine
in her sole and absolute discretion which bid is the highest and
best bid and will identify a Winning Bidder on or before the end of
the day of the Qualified Bid Deadline, after consulting with the
Consulting Parties.

   6. Within 45 days of being declared the Winning Bidder, which
will be one-hundred and five (105) days following May 15, 2022, the
Winning Bidder must provide the Trustee evidence that the Federal
Reserve Board, the FDIC, the State of Illinois, Illinois Department
of Financial and Professional Regulations, and any other regulatory
agencies, as required, have deemed the Winning Bidder's regulatory
application "substantially complete." If the Winning Bidder fails
to satisfy this condition for any reason, the Winning Bidder's
Deposit is forfeited. In the event the Winning Bidder fails to
satisfy this condition, the Plan Proponents shall begin
implementation of the Reorganization Transaction.

   7. If a Winning Bidder is declared, the Winning Bidder must
obtain regulatory approval for its purchase of the Debtor's
Interests in First Bank by the Regulatory Approval Date and the
closing of the sale must occur no later than the Closing Date. If
regulatory approval does not occur by the Regulatory Approval Date
or the Closing does not occur by the Closing Date, the Plan
Proponents shall begin implementation of the Reorganization
Transaction. If the Winning Bidder fails to close by the Closing
Date because the Regulators failed to approve the Winning Bidder's
application despite the Winning Bidder's good faith efforts to
obtain such regulatory approval, the Trustee shall return the
Winning Bidder's Deposit. The failure to close for any other reason
results in a forfeiture of the Winning Bidder's Deposit.
Notwithstanding the foregoing, the Trustee may, in her sole and
absolute discretion, but after consultation with the Consulting
Parties, elect to extend the deadlines for the Regulatory Approval
Date or the Closing Date.

   d. Article IX is amended to include a new paragraph E:

        E. Conditions Precedent to the Effective Date for the
Market Testing Transaction. The conditions to the Effective Date
for the Market Testing Transaction shall be those contained in
Article IX, A.1., 2., 6 and 7 provided, further that those matters
which must be acceptable to the Plan Proponents need only be
acceptable to the Trustee.

3. The Trustee is the party conducting the Market Testing
Transaction. First Bank and any of its employees, directors,
officers, agents, attorneys, accountants, investment bankers, or
any other Person acting on its behalf or at its direction,
including Robert Hershenhorn, whether acting in such capacity for
First Bank, themselves, or for the Debtor (collectively "First Bank
Parties"), are ordered to immediately notify the Trustee if they
receive any inquiries regarding the Market Testing Transaction. If
the First Bank Parties solicit participation in the Market Testing
Transaction, they shall provide the Trustee notification of the
parties so solicited at the time such solicitation is made. The
First Bank Parties shall include the Trustee on all email and other
written communications with, on the one hand, the First Bank
Parties and, on the other hand, any potential bidders, bidders, a
bidder making a Qualified Bid or a Winning Bidder. In the event
that the First Bank Parties meet either in person or telephonically
or through video with any potential bidders, bidders, a bidder
making a Qualified Bid or a Winning Bidder, they shall include the
Trustee in such communications.

4. First Bank shall provide all information requested by any
potential bidders, bidders, Persons submitting Qualified Bids or
the Winning Bidder within two business days of such request
(subject to any appropriate Non-Disclosure Agreement as determined
by the Trustee) and to the extent that any such request is made
directing to a First Bank Party, shall inform the Trustee of all
such requests immediately upon receipt and before providing any
requested information.

5. The Plan, attached hereto as Exhibit 2, is confirmed as modified
by this Order.

6. In the event the Reorganization Transaction is consummated, (i)
the TruPS Amendments will become immediately effective as of the
Effective Date; (ii) the TruPS Trustees and the Trustee will
execute the TruPS Amendments; and (iii) the TruPS Documents, as
amended by the TruPS Amendments, will govern for all purposes after
the Effective Date.

7. Notwithstanding anything contained in the Plan to the contrary,
on the Confirmation Date and effective as of the Effective Date and
to the fullest extent authorized by applicable law, all Entities
who have held, hold, or may hold Claims or Interests that have been
released pursuant to the Amended Plan, compromised and settled
pursuant to the Amended Plan, or are exculpated pursuant to the
Amended Plan, are permanently enjoined, from and after the
Effective Date, from taking any of the following actions against,
as applicable, against the Debtor, First Bank, the Reorganized
Debtor, the Trustee, or the Exculpated Parties, or their respective
property (collectively, the "Enjoined Actions"): (1) commencing or
continuing in any manner any action or other proceeding of any kind
on account of or in connection with or with respect to any such
released, compromised, settled, or Exculpated Claim or Interest;
(2) enforcing, attaching, collecting, or recovering by any manner
or means any judgment, award, decree, or order against such
Entities on account of or in connection with or with respect to any
such released, compromised, settled, or Exculpated Claims or
Interests; (3) creating, perfecting, or enforcing any encumbrance
of any kind against such Entities or the property or the Estate of
such Entities on account of or in connection with or with respect
to any such released, compromised, settled, or Exculpated Claims or
Interests; (4) asserting any right of setoff, subrogation, or
recoupment of any kind against any obligation due from such
Entities or against the property of such entities on account of or
in connection with or with respect to any such released,
compromised, settled, or exculpated Claims or Interests unless such
entity has timely filed a Proof of Claim with the Bankruptcy Court
preserving such right of setoff, subrogation, or recoupment; and
(5) commencing or continuing in any manner any action or other
proceeding of any kind on account of or in connection with or with
respect to any such released, compromised, settled, or Exculpated
Claims or Interests; provided that the foregoing injunction does
not enjoin any actions to enforce obligations arising on or after
the Effective Date under the Amended Plan or any document,
instrument, or agreement executed to implement the Amended Plan.

                                  About Northwest Bancorporation of
Illinois

Northwest Bancorporation of Illinois, Inc., is a bank holding
company incorporated under the laws of the state of Delaware.  

Northwest Bancorporation filed its voluntary petition for Chapter
11 protection (Bankr. N.D. Ill. Case No. 21-08123) on July 2, 2021,
listing as much as $50 million in both assets and liabilities.
Judge Carol A. Doyle oversees the case.

The Debtor tapped Taft Stettinius & Hollister, LLP as legal counsel
and Janney Montgomery Scott, LLC, as financial advisor and
investment banker.

The U.S. Trustee for Region 11 appointed an official committee of
unsecured creditors on Aug. 4, 2021.  The committee is represented
by Jeffrey D. Sternklar, LLC and SmithAmundsen, LLC.

Catherine Steege is the Chapter 11 trustee appointed in the
Debtor's case. Jenner & Block, LLP, serves as the trustee's legal
counsel.


ORALE MOTOR: Seeks to Tap Baker & Associates as Bankruptcy Counsel
------------------------------------------------------------------
Orale Motor Sport, LLC seeks approval from the U.S. Bankruptcy
Court for the Southern District of Texas to hire Baker & Associates
as its legal counsel.

The firm's services include:

     (a) analyzing the financial situation, and rendering advice
and assistance to the Debtor;

     (b) advising the Debtor with respect to its duties;

     (c) preparing and filing schedules of assets and liabilities,
statements of affairs and legal papers;

     (d) representing the Debtor at the first meeting of
creditors;

     (e) representing the Debtor in all proceedings before the
bankruptcy court and in any other judicial or administrative
proceeding where its rights may be litigated or otherwise
affected;

     (f) preparing and filing a disclosure statement, if required,
and Chapter 11 plan of reorganization; and

     (g) assisting the Debtor in any matters relating to or arising
out of its Chapter 11 case.

Baker & Associates will be paid based upon its normal and usual
hourly billing rates and will be reimbursed for its expenses.

The firm received the sum of $6,500 from the Debtor, of which
$1,738 was used to pay the filing fee. The remaining amount was
used to pay the firm's pre-bankruptcy fees and other expenses.

Reese Baker, Esq., an attorney at Baker & Associates, disclosed in
a court filing that his firm is a "disinterested person" pursuant
to Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Reese W. Baker, Esq.
     Baker & Associates
     950 Echo Lane, Ste. 300
     Houston, TX 770024
     Telephone: (713) 869-9200
     Facsimile: (713) 869-9100
     Email: courtdocs@bakerassociates.net

                      About Orale Motor Sport

Orale Motor Sport, LLC sought protection for relief under Chapter
11 of the Bankruptcy Code (Bankr. S.D. Texas Case No. 23-31369) on
April 14, 2023, with as much as $1 million in both assets and
liabilities. Judge Eduardo V. Rodriguez oversees the case.

Reese W. Baker, Esq., at Baker & Associates represents the Debtor
as counsel.


PACKERS HOLDINGS: S&P Downgrades ICR to 'CCC+' on Labor Issues
--------------------------------------------------------------
S&P Global Ratings lowered all its ratings on food-processing
sanitation services provider Packers Holdings Inc., including the
issuer credit rating, to 'CCC+' from 'B-', and revised the outlook
to negative.

The negative outlook reflects the risk of tightening liquidity
arising from additional contract losses and larger free cash flow
deficits.

Packers faces reputational risks that could further pressure
financial results. In November 2022, the U.S. Department of Labor
filed a complaint against Packers for the use of underage workers.
The case settled in February of 2023 with $1.5 million in penalties
paid by Packers, along with a number of mitigating steps to be
actioned immediately. As a result, Cargill (one of the key
customers accounting for about 6% of revenue) announced it ended
its relationship with PSSI, and other customers ended contracts for
affected plants. S&P said, "Our base case expects revenue will
decline in the high single digits due to revenue gradually rolling
off following announced cancellations. Reputational concerns or new
litigation could lead to additional losses and pricing pressures
that extend beyond our forecast. Furthermore, we except EBITDA
margins will decline to about 10% in 2023 from about 13% in 2022,
primarily from loss of high-margin contracts and rising costs.
Because lower cost providers and insourcing are viable alternatives
to Packers' solutions, we believe it will be difficult for Packers
to regain market share and meaningfully improve EBITDA margins
through pricing negotiations over the near term."

Packers' liquidity is adequate for now, but cushion will shrink
from free cash flow deficits and amortization requirements. The
company ended the first quarter of 2023 with $70 million of cash on
hand, down from $105 million at year-end 2022. S&P said, "We
estimate annual interest costs of about $110 million. Given
difficult operating environment, we forecast free cash flow deficit
of about $30 million in 2023, and we expect leverage will rise to
about 12.5x in 2023, up from 9.1x last year.

The negative outlook reflects the risk of tightening liquidity
arising from further customer contract losses and larger free cash
flow deficits."

S&P could lower its rating on Packers if customer losses, new
litigation risks, or dwindling liquidity leads it to expect a
chance of a payment default or distressed exchange in the near
term.

S&P could revise its outlook to stable if Packer stabilizes revenue
base and customer churn such that EBITDA margins improve and free
cash flows recover to positive territory.

Environmental, Social, And Governance

ESG credit indicators: To E-2, S-4, G-3; From E-2, S-2, G-3

S&P said, "Social factors on a net basis are a negative
consideration in our credit rating analysis, affecting our
assessment of the company's competitive position. A large number of
recent child labor occurrences resulted in $1.5 million in civil
penalties along with lost contracts. While the company has taken
mitigating steps, reputational concerns from key customers could
lead to further impact on Packers' financial results that extend
beyond our forecast.

"Governance is a moderately negative consideration, as is the case
for most rated entities owned by private-equity sponsors. We
believe the company's highly leveraged financial risk profile
points to corporate decision-making that prioritizes the interests
of the controlling owners. This also reflects the generally finite
holding periods and a focus on maximizing shareholder returns."

Environmental, social, and governance (ESG) credit factors for this
change in credit rating/outlook and/or CreditWatch status:

-- Social capital



PEACE EQUIPMENT: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Peace Equipment, LLC
        312 N Ester
        Edcouch, TX 78538

Chapter 11 Petition Date: May 24, 2023

Court: United States Bankruptcy Court
       Southern District of Texas

Case No.: 23-70098

Judge: Hon. Eduardo V. Rodriguez

Debtor's Counsel: Reese W. Baker, Esq.
                  BAKER & ASSOCIATES
                  950 Echo Ln Ste 300
                  Houston, TX 77024-2824
                  Email: courtdocs@bakerassociates.net

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Alejandro G. Mascorro as president.

The Debtor failed to include in the petition a list of its 20
largest unsecured creditors.

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

https://www.pacermonitor.com/view/GAXPSOY/Peace_Equipment_LLC__txsbke-23-70098__0001.0.pdf?mcid=tGE4TAMA


PEAR THERAPEUTICS: Committee Taps Archer & Greiner as Del. Counsel
------------------------------------------------------------------
The official committee of unsecured creditors of Pear Therapeutics,
Inc. and Pear Therapeutics (US), Inc. received approval from the
U.S. Bankruptcy Court for the District of Delaware to employ Archer
& Greiner, P.C.

The firm's services include:

     a. appearing for and representing the committee as its
Delaware counsel in the Debtors' Chapter 11 cases and any
proceeding, litigation or hearing before the court;

     b. advising the committee concerning the requirements of the
Bankruptcy Code, Bankruptcy Rules, the rules and procedures of the
court, and the requirements of the U.S. Trustee relating to the
discharge of its duties under the Bankruptcy Code;

     c. participating in committee meetings;

     d. assisting the other bankruptcy professionals hired by the
committee; and

     e. other necessary legal services.

The firm's hourly rates are as follows:

     Bryan Hall, Attorney   $495
     Amy Huber, Paralegal   $210

Archer & Greiner provided the following information in response to
Section D of the U.S. Trustee Guidelines for reviewing fee
applications filed by attorneys in larger Chapter 11 cases:

     a. Archer & Greiner did not agree to a variation of its
standard or customary billing arrangement for this engagement.

     b. None of the professionals included in this engagement have
varied their rate based on the geographic location of the
bankruptcy cases.

     c. Archer & Greiner did not represent the committee prior to
the petition date.

     d. Archer & Greiner and the committee expect to develop a
prospective budget and staffing plan, recognizing that in light of
the complex issues and highly compressed timetable in the
bankruptcy cases, there may be unforeseeable fees and expenses that
will need to be addressed.

Bryan Hall, Esq., at Archer & Greiner, disclosed in court filings
that his firm is a "disinterested person" pursuant to Section
101(14) of the Bankruptcy Code.

The firm can be reached through:

     Bryan J. Hall, Esq.
     Archer & Greiner, P.C.
     300 Delaware Avenue, Suite 1100
     Wilmington, DE 19801
     Telephone: 302-356-6625
     Email: bjhall@archerlaw.com

                      About Pear Therapeutics

Pear Therapeutics, Inc. is a commercial-stage healthcare company
pioneering a new class of software-based medicines, sometimes
referred to as Prescription Digital Therapeutics, which use
software to treat diseases directly.

Pear Therapeutics, Inc. and Pear Therapeutics (US), Inc. filed
their voluntary petitions for relief under Chapter 11 of the
Bankruptcy Code (Bankr. D. Del. Lead Case No. 23-10429) on April 7,
2023. Christopher Guiffre, chief financial officer and chief
operating officer, signed the petitions. In the petitions, the
Debtors reported $10 million to $50 million in both assets and
liabilities.

Judge Thomas M. Horan presides over the cases.

The Debtors tapped Foley Hoag, LLP as general bankruptcy counsel;
Gibbons, P.C. as Delaware counsel; Wilmer Cutler Pickering Hale and
Dorr, LLP as special counsel; Sonoran Capital Advisors, LLC and MTS
Health Partners, L.P. as financial advisors; and Stretto, Inc. as
claims and noticing agent.

The U.S. Trustee for Region 3 appointed an official committee to
represent unsecured creditors in the Debtors' Chapter 11 cases. The
committee tapped Thompson Coburn Hahn & Hessen, LLP as bankruptcy
counsel; Archer & Greiner, P.C. as Delaware counsel; and Dundon
Advisers, LLC as financial advisor.


PEAR THERAPEUTICS: Committee Taps Dundon as Financial Advisor
-------------------------------------------------------------
The official committee of unsecured creditors of Pear Therapeutics,
Inc. and Pear Therapeutics (US), Inc. received approval from the
U.S. Bankruptcy Court for the District of Delaware to employ Dundon
Advisers, LLC as its financial advisor.

The committee requires a financial advisor to:

     a. assist in the analysis, review and monitoring of the
restructuring or liquidation process, including, but not limited
to, an assessment of the unsecured claims pool and potential
recoveries for unsecured creditors;

     b. develop a complete understanding of the Debtors' businesses
and their valuations;

     c. determine whether there are viable alternative paths for
the disposition of the Debtors' assets;

     d. monitor and, to the extent appropriate, assist the Debtors
in efforts to develop and solicit transactions which would support
unsecured creditor recovery;

     e. assist the committee in identifying, valuing and pursuing
estate causes of action;

     f. assist the committee in analyzing, classifying and
addressing claims against the Debtors, and participate effectively
in any effort to estimate (in any formal or informal sense)
contingent, unliquidated and disputed claims;

     g. assist the committee in identifying, preserving, valuing
and monetizing tax assets of the Debtors, if any;

     h. advise the committee in negotiations with the Debtors,
certain of the Debtors' lenders and third parties;

     i. assist the committee in reviewing the Debtors' financial
reports, including, but not limited to, statements of financial
affairs, schedules of assets and liabilities, cash budgets and
monthly operating reports;

     j. assist the committee in reviewing the Debtors' cost/benefit
analysis with respect to the assumption or rejection of various
executory contracts and leases;

     k. review and provide analysis of the present and any
subsequent proposed debtor-in-possession financing or use of cash
collateral;

     l. assist the committee in evaluating and analyzing avoidance
actions, including fraudulent conveyances and preferential
transfers;

     m. review and provide analysis of any proposed disclosure
statement and Chapter 11 plan and, if appropriate, assist the
committee in developing an alternative Chapter 11 plan;

     n. attend meetings and assist in discussions with the
committee, the Debtors, the secured lenders, the U.S. Trustee and
other parties involved in the Debtors' Chapter 11 cases;

     o. participate in meetings of the committee as well as
meetings with other key stakeholders and parties;

     p. provide testimony; and

     q. perform other necessary financial advisory services.

The firm will charge these fees:

     Through and including June 30, 2023:

     Principals           $850 per hour
     Managing Directors   $760 per hour
     Senior Directors     $700 per hour
     Directors            $650 per hour
     Associate Director   $550 per hour
     Senior Associates    $475 per hour
     Associates           $370 per hour

     From and after July 1, 2023:

     Principals           $890 per hour
     Managing Directors and
     Senior Advisers      $790 per hour
     Senior Directors     $700 per hour
     Directors            $650 per hour
     Associate Directors  $550 per hour
     Senior Associates    $475 per hour
     Associates           $350 per hour

Peter Hurwitz, principal at Dundon Advisers, disclosed in a court
filing that his firm is a "disinterested person" pursuant to
Section 101(14) of the Bankruptcy Code.

Dundon Advisers can be reached through:
     
     Peter Hurwitz
     Dundon Advisers, LLC
     Ten Bank Street, Suite 1100
     White Plains, NY 10606
     Telephone: (914) 523-0227
     Email: ph@dundon.com

                      About Pear Therapeutics

Pear Therapeutics, Inc. is a commercial-stage healthcare company
pioneering a new class of software-based medicines, sometimes
referred to as Prescription Digital Therapeutics, which use
software to treat diseases directly.

Pear Therapeutics, Inc. and Pear Therapeutics (US), Inc. filed
their voluntary petitions for relief under Chapter 11 of the
Bankruptcy Code (Bankr. D. Del. Lead Case No. 23-10429) on April 7,
2023. Christopher Guiffre, chief financial officer and chief
operating officer, signed the petitions. In the petitions, the
Debtors reported $10 million to $50 million in both assets and
liabilities.

Judge Thomas M. Horan presides over the cases.

The Debtors tapped Foley Hoag, LLP as general bankruptcy counsel;
Gibbons, P.C. as Delaware counsel; Wilmer Cutler Pickering Hale and
Dorr, LLP as special counsel; Sonoran Capital Advisors, LLC and MTS
Health Partners, L.P. as financial advisors; and Stretto, Inc. as
claims and noticing agent.

The U.S. Trustee for Region 3 appointed an official committee to
represent unsecured creditors in the Debtors' Chapter 11 cases. The
committee tapped Thompson Coburn Hahn & Hessen, LLP as bankruptcy
counsel; Archer & Greiner, P.C. as Delaware counsel; and Dundon
Advisers, LLC as financial advisor.


PEAR THERAPEUTICS: Committee Taps Thompson Coburn Hahn as Counsel
-----------------------------------------------------------------
The official committee of unsecured creditors of Pear Therapeutics,
Inc. and Pear Therapeutics (US), Inc. received approval from the
U.S. Bankruptcy Court for the District of Delaware to employ
Thompson Coburn Hahn & Hessen, LLP as its legal counsel.

The firm's services include:

     a. rendering legal advice to the committee with respect to its
duties and powers in the Debtor's Chapter 11 cases;

     b. assisting the committee in its investigation of the acts,
conduct, assets, liabilities, and financial condition of the
Debtors, the operation of the Debtors' business, the desirability
of continuance of such business, and any other matters relevant to
the Debtors' bankruptcy cases or business affairs;

     c. advising the committee with respect to any proposed sale of
the Debtors' assets or business operations and any other relevant
matters;

     d. advising the committee with respect to any proposed plan of
reorganization or liquidation, the prosecution of claims against
third parties, and any other matters relevant to the cases or to
the plan;

     e. assisting the committee in requesting the appointment of a
trustee or examiner, if necessary; and

     f. other necessary legal services.  

The firm will be paid at these rates:

     Partners                 $505 - $1,315 per hour
     Associates and Counsel   $295 to $925 per hour
     Paralegals               $205 to $430 per hour

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

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

     (a) Thompson agreed to a variation of its standard or
customary billing arrangement for this engagement.

     (b) None of the professionals included in this engagement have
varied their rate based on the geographic location of these Chapter
11 cases.

     (c) Thompson did not represent the committee prior to the
petition date.

     (d) Thompson is preparing a staffing plan and budget for
approval by the committee. The Thompson Coburn attorneys and
paraprofessionals staffed will be working on these cases, subject
to modification depending on further development, and their current
hourly rates are as follows:

                                       Rates as of 1/1/2023

     Mark Power, Partner                $1,165 ($990.25 at
                                        the reduced rate)
     Janine Figueiredo, Partner         $ 905
     Joseph Orbach, Partner             $ 770
     Aleksandra Abramova, Associate     $ 440
     Danielle Ullo, Associate           $ 420
     David Reinhart, Paraprofessional   $ 345

Mark Power, Esq., a partner at Thompson, disclosed in a court
filing that his firm is a "disinterested person" pursuant to
Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Mark T. Power, Esq.
     Thompson Coburn Hahn & Hessen, LLP
     488 Madison Avenue
     New York, NY 10022
     Phone: 212 478 7350
     Email: mpower@thompsoncoburn.com

                      About Pear Therapeutics

Pear Therapeutics, Inc. is a commercial-stage healthcare company
pioneering a new class of software-based medicines, sometimes
referred to as Prescription Digital Therapeutics, which use
software to treat diseases directly.

Pear Therapeutics, Inc. and Pear Therapeutics (US), Inc. filed
their voluntary petitions for relief under Chapter 11 of the
Bankruptcy Code (Bankr. D. Del. Lead Case No. 23-10429) on April 7,
2023. Christopher Guiffre, chief financial officer and chief
operating officer, signed the petitions. In the petitions, the
Debtors reported $10 million to $50 million in both assets and
liabilities.

Judge Thomas M. Horan presides over the cases.

The Debtors tapped Foley Hoag, LLP as general bankruptcy counsel;
Gibbons, P.C. as Delaware counsel; Wilmer Cutler Pickering Hale and
Dorr, LLP as special counsel; Sonoran Capital Advisors, LLC and MTS
Health Partners, L.P. as financial advisors; and Stretto, Inc. as
claims and noticing agent.

The U.S. Trustee for Region 3 appointed an official committee to
represent unsecured creditors in the Debtors' Chapter 11 cases. The
committee tapped Thompson Coburn Hahn & Hessen, LLP as bankruptcy
counsel; Archer & Greiner, P.C. as Delaware counsel; and Dundon
Advisers, LLC as financial advisor.


PEKING DUCK: Gets OK to Hire Konstantine Sparagis as Legal Counsel
------------------------------------------------------------------
Peking Duck USA, Inc. received approval from the U.S. Bankruptcy
Court for the Northern District of Illinois to hire the Law Offices
of Konstantine Sparagis PC as its bankruptcy counsel.

The firm's services will include:

     (a) advising the Debtor with respect to its powers and duties
in the continued management and operation of its business and
properties;

     (b) attending meetings and negotiating with the
representatives of creditors and other parties in interest;

     (c) taking all necessary action to protect and preserve the
Debtor's estate;

     (d) preparing legal papers;

     (e) taking any action necessary to obtain approval of
disclosure statement and the Debtor's plan of reorganization;

     (f) obtaining post-petition financing, if required;

     (g) advising the Debtor in connection with any potential sale
of assets; and

     (h) other necessary legal services to administer the Debtor's
Chapter 11 case.

The law firm will be paid at the following rates:

    Konstantine Sparagis    $350 per hour
    Paraprofessionals       $75 per hour

The Debtor paid a pre-bankruptcy retainer to the law firm in the
amount of $10,000.

Konstantine Sparagis, Esq., the firm's attorney who will be
handling the case, disclosed in a court filing that she is a
"disinterested person" within the meaning of Section 101(14) of the
Bankruptcy Code.

The law firm can be reached through:

     Konstantine T. Sparagis, Esq.
     Law Offices of Konstantine Sparagis, P.C.
     900 W. Jackson Blvd., Ste. 4E
     Tel: 312.753.6956
     Email: gus@konstantinelaw.com

                      About Peking Duck USA

Peking Duck USA, Inc., doing business as Lao Sze Chuan Downtown,
filed its voluntary petition for relief under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Ill. Case No. 23-05135) on April 19,
2023, with $500,000 to $1 million in assets and $1 million to $10
million in liabilities. Yujia Hu, president of Peking Duck USA,
signed the petition.

Judge Jacqueline P. Cox presides over the case.

Konstantine Sparagis, Esq., at the Law Offices of Konstantine
Sparagis, P.C. represents the Debtor as counsel.


PITNEY BOWES: S&P Downgrades ICR to 'BB-', Outlook Stable
---------------------------------------------------------
S&P Global Ratings lowered its rating on Pitney Bowes Inc. to 'BB-'
from 'BB'. S&P also lowered its issue-level ratings on the
company's senior secured term loan B to 'BB+' from 'BBB-' and its
senior unsecured notes one notch to 'BB-' for the notes issued in
2021 and 'B+' for its legacy notes.

The stable outlook is based on the relatively more consistent cash
generation of Pitney's Sending Technology (SendTech) and Presort
Services segments, as well as prospects for deleveraging through
recently announced expense reductions.

S&P said, "Pitney Bowes' performance the past two quarters has
further diminished our confidence that the GEC segment will achieve
meaningful profitability. GEC extended its run as Pitney Bowes'
worst performing business through the two quarters since we revised
the rating outlook to negative, with the company citing increased
uncertainty around a path to positive segment EBITDA and cash flow.
Segment revenue declines accelerated to 13.4% and 16.8% year on
year in the last two quarters (about flat and a 4% decline
adjusting for currency movements, a presentation change and the
Borderfree divestiture in 2022). This segment was once Pitney's
major growth business but has now experienced year on year revenue
declines in six of the past seven quarters. These declines were
recently disproportionately concentrated in the cross-border
subsegment of Pitney's Ecommerce franchise, which has proven to be
highly exposed to currency volatility and further lost volumes from
contract changes with two major clients in the first quarter.

While Pitney Bowes has reported better top-line performance in the
domestic parcel subsegment, adding 82 new customer contracts in the
quarter, the GEC business as a whole has not generated positive
annual EBITDA for over four years. This is in spite of gaining
substantial scale during the COVID-19 pandemic and multiple rounds
of investment focused on improving efficiency and unit economics.
S&P said, "Therefore, we no longer model positive segment EBITDA
for GEC due to the considerable uncertainty around the timing and
magnitude of eventual profitability. The company announced last
year the launch of U.S. inbound services from the U.K. and Canada,
an initiative that may help reduce GEC's exposure to currency
volatility over time. However, we expect a muted near-term impact
of this initiative."

Legacy SendTech and Presort segment performance has been impeded by
a weakening macroeconomic environment, but they remain consistently
profitable. Although S&P expects top-line declines in SendTech to
accelerate modestly in 2023, Pitney Bowes appears to have moderated
the rate of historical revenue declines through increasing
shipping-related services. That is a bright spot for a business
that has been declining for years on slowing mail volumes. The
stabilization of financing receivables since 2020 also speaks to
the resilience of this business and Pitney Bowes' ability to
provide ongoing value to this long-standing customer base. Presort
has also reliably contributed about $100 million of EBITDA
annually--a crucial source of stability during Pitney's ongoing
transformation. Nevertheless, S&P continues to see risks to these
segments in 2023 as SendTech's small business customers may face an
outsize impact from a recession. Bulk mailing volumes may also
decline for Presort as the 2022 mid-term election year should be a
challenging comparison point.

Free operating cash flow (FOCF) will weaken this year in spite of
lower capital expenditure (capex), but should improve in 2024 as
Pitney Bowes realizes the benefit of cost reductions. Reported FOCF
declined over 50% in 2022 as significant net working capital
outflows more than offset lower capex. S&P expects cash generation
to weaken further--but remain positive--in 2023 despite additional
capex cuts, as greater losses from GEC and restructuring expenses
weigh on results. Although we think cash flow could rebound
somewhat in 2024 as margins benefit from realized cost reductions,
higher interest rates and increasing macroeconomic uncertainty
drive our view that future cash generation may be more volatile
without sustained profitability improvements in both GEC and the
consolidated company. Higher interest rates may also constrain cash
generation as Pitney replaces maturing debt with higher-coupon
instruments.

Leverage increased to about 4.3x as of the March quarter, higher
than S&P's prior downgrade threshold, but should decline below 4x
in 2024 unless Pitney Bowes faces further margin pressure in its
legacy businesses. Weaker operating performance in late 2022 and
early 2023 has pushed leverage up to about 4.3x from about 3.5x at
the end of 2022. A moderate decline in leverage at year-end may be
achievable due to business seasonality. A cash balance of over $500
million provides adequate liquidity such that the company can
readily address its $227 million 2024 note maturity.

S&P said, "The outlook is stable, reflecting our view that
consistent cash generation in SendTech and Presort will enable
Pitney Bowes to return leverage under 4x as it realizes savings
from recently announced restructuring efforts in 2024. While we do
not expect a material EBITDA contribution from the GEC segment for
at least the next 24 months, recent plans to consolidate facilities
should reduce capital investment needs and bolster FOCF in the
coming year."

S&P could downgrade Pitney Bowes if:

-- It cannot return leverage to below 4x by 2024. S&P thinks this
could be due to a deeper than expected economic downturn in the
U.S. that leads to accelerated revenue declines in SendTech and
weakness in Presort;

-- Operational mishaps or poor strategic execution lead to
continued worse than expected operating performance in GEC and
Pitney in general; or

-- Although less likely in our view, FOCF turns negative in 2023
or 2024.

S&P said, "Although unlikely over the next 12 months, we would
consider an upgrade for Pitney Bowes if the firm reduces leverage
under 3x on a sustained basis and improves cash generation. We
think it would be unlikely for the firm to achieve this without
significantly improving its margins and the growth trajectory of
the GEC business."

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

S&P said, "ESG credit factors have no material influence on our
credit rating analysis of Pitney Bowes. However, we continue to
monitor the potential credit impact of the activist investor Hestia
Capital's influence on the company's corporate governance,
especially after recently winning four of nine board seats in
contested board elections. While it is too early to clearly assess
the credit implications of this change, or of any potential
resulting impact on board effectiveness, we note that some of
Hestia's proposals to increase profitability or free up cash to
accelerate deleveraging could be possible credit positives."



PLASTIQ INC: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Lead Debtor: Plastiq Inc.
             1475 Folsom Street, Suite 400
             San Francisco, CA 94103

Business Description: The Debtors provide software platform for
                      business-to-business payment automation that
                      powers all aspects of accounts payables and
                      accounts receivables operations for small
                      and medium businesses.  Their proprietary
                      software allows clients to automate
                      payments, workflows, and processes, and
                      access new credit sources.

Chapter 11 Petition Date: May 24, 2023

Court: United States Bankruptcy Court
       District of Delaware

Three affiliates that concurrently filed voluntary petitions for
relief under Chapter 11 of the Bankruptcy Code:

      Debtor                                      Case No.
      ------                                      --------
      Plastiq Inc. (Lead Case)                    23-10671
      PLV Inc.                                    23-10672
      Nearside Business Corp.                     23-10673

Judge: Hon. Brendan Linehan Shannon

Debtors' Counsel: Michael R. Nestor, Esq.
                  Matthew B. Lunn, Esq.
                  Joseph M. Mulvihill, Esq.
                  Jared W. Kochenash, Esq.
                  YOUNG CONAWAY STARGATT & TAYLOR, LLP
                  1000 North King Street
                  Rodney Square
                  Wilmington, Delaware 19801
                  Tel: (302) 571-6600
                  Fax: (302) 571-1253
                  Email: mnestor@ycst.com
                         mlunn@ycst.com
                         jmulvihill@ycst.com
                         jkochenash@ycst.com

Debtors'
Claims &
Noticing Agent
and Administrative
Advisor:          KURTZMAN CARSON CONSULTANTS LLC

Debtors'
Restructuring
Advisor:          TRIPLE P RTS, LLC


Estimated Assets
(on a consolidated basis): $50 million to $100 million

Estimated Liabilities
(on a consolidated basis): $50 million to $100 million

The petitions were signed by Vladimir Kasparov as chief
restructuring officer.

Full-text copies of the petitions are available for free at
PacerMonitor.com at:

https://www.pacermonitor.com/view/R7M5KFI/Plastiq_Inc__debke-23-10671__0001.0.pdf?mcid=tGE4TAMA

https://www.pacermonitor.com/view/WKZ3H4Y/PLV_Inc__debke-23-10672__0001.0.pdf?mcid=tGE4TAMA

https://www.pacermonitor.com/view/WV7L7WQ/Nearside_Business_Corp__debke-23-10673__0001.0.pdf?mcid=tGE4TAMA

Consolidated List of Debtors' 20 Largest Unsecured Creditors:

  Entity                            Nature of Claim   Claim Amount

1. Brex                               Trade Debt        $3,297,779
Henrique Dubugras
153 Townsend St, 6th Floor
San Francisco, CA 94107
Tel: 800-610-7379
Email: henrique@brex.com

2. Deloitte & Touche LLP             Professional       $1,996,027
Steve Kimble, CEO, Tax                   Fees
555 Mission Street, Suite 1400
San Francisco, CA 94105
Phone: 415-783-4000
Email: skimble@deloitte.com

3. Donnelley Financial, LLC           Professional        $853,103
Jennifer Reiners, General Counsel        Fees
35 West Wacker Drive
Chicago, IL 60601
Phone: 866-245-6044
Email: jennifer.reiners@dfinsolutions.com

4. Globant LLC                         Professional       $696,765
Attn: Director or Officer                  Fees
875 Howard St., 3rd Floor
San Francisco, CA 94103
Phone: 877-215-5230
Email: billing@globant.com

5. Cianfru LLC                        Landlord Claim      $676,032
Attn: Director or Officer
3055 Westside Road
Headsburg, CA 95448
Phone: 415-730-5701
Email: andrea@msi-stones.com

6. Google LLC                           Trade Debt        $613,339
Attn: Director or Officer
1600 Amphitheatre Parkway
Mountain View, CA 94043
Phone: 650-253-0000
Email: collections@google.com

7. Bowei Liu                          Contract Claim      $310,508
926 Powell Street, APT 24
San Francisco, CA 94108
Phone: 510-449-3451
Email: liubowei@gmail.com

8. RAMP                                 Trade Debt        $157,020
Edwine Alphonse
71 5th Ave
New York, NY 10003
Phone: 347-229-9695
Email: edwine@ramp.com

9. Noom, Inc.                           Trade Debt        $135,000
Attn: Director or Officer
450 West 33rd Street, 11th Floor
New York, NY 10001
Phone: 888-266-5071
Email: ceo@noom.com

10. Parth Padgaonkar                  Contract Claim      $134,311
200 Varick St Ste 600
New York City, NY 10014
Phone: 212-681-1380
Email: parth@jmvmname.dev

11. Angel Batista                     Contract Claim      $116,439
447 17th Street
Oakland, CA 94612
Email: angel.batista1992@gmail.com

12. Andela, Inc.                        Professional       $85,551
Jeremy Johnson                             Fees
580 Fifth Avenue, Suite 820
New York, NY 10036
Phone: 646-726-4003
Email: billing@andela.com;
jeremy@andela.com;
maya.neria@andela.com

13. Anthem Blue Cross                    Trade Debt        $77,334
Attn: Director or Officer
220 Virginia Avenue
Indianapolis, IN 46204
Phone: 800-331-1476
Email: chris.riggs@anthem.com

14. Gowling WLG                        Professional        $69,095
Michael Garellek                           Fees
160 Elgin Street, Suite 2600
Ottawa, ON K1P 1C3
Canada
Phone: 514-392-9421
Email: payments.ca@gowlingwlg.com;
michael.garellek@gowlingwlg.com

15. LinkedIn Corporation                Trade Debt         $66,033
A Martin
1000 W. Maude Ave
Sunnyvale, CA 94085
Phone: 650-687-3600
Email: amartin@linkedIn.com;
ar-receipts@linkedin.com

16. 601 California Property           Landlord Claim       $65,636
Investments LLC
Wilmer Chiu
255 Shoreline Drive, Suite 300
Redwood City, CA 94065
Phone: 650-373-1230
Email: wchiu@ecp-llc.com

17. CBIZ ARC Consulting                Professional        $65,103
Nancy Mai                                  Fees
44 Montgomery St
San Francisco, CA 94104
Phone: 415-787-4107
Email: nancy.mai@cbiz.com

18. Galileo Financial                  Professional        $64,689
Technologies, Inc.                         Fees
Clay Wilkes
9800 Monroe St, 7th Floor
Sandy, UT 84070
Tel: 801-365-6060
Fax: 801-924-1757
cwilkes@galileoprocessing.com;
legal@galileo-ft.com

19. Williamsmarston LLC                Professional        $62,637
Attn: Director or Officer                  Fees
800 Boylston Street, 16th Floor
Boston, MA 02199
Phone: 617-982-6699
Email: billing@williamsmarston.com

20. Colonnade Capital LLC            Litigation Claim      Unknown
Remy Trafelet
1400 Centrepark Blvd., Suite 810
West Palm Beach, FL 33401
Phone: 561-7123-7860
Email: rtrafelet@claacq.com


PLASTIQ INC: Priority Technology to Acquire Assets in Chapter 11
----------------------------------------------------------------
Priority Technology Holdings, Inc. (NASDAQ: PRTH), a leading
platform for unified commerce that delivers integrated payments and
banking at scale, on May 24 disclosed that it has entered into a
definitive agreement ("the Purchase Agreement") as the stalking
horse bidder to acquire substantially all of the assets of Plastiq,
Inc and certain of its affiliates in its Chapter 11 Restructuring.
The Purchase Agreement is subject to Bankruptcy Court approval.

Plastiq, Inc., is a B2B payments platform that offers bill pay and
instant access to working capital to small and midsize businesses.
"The synergies between our respective B2B payment assets will help
business owners optimize their cash flow and working capital
strategies," said Thomas Priore, Chairman and CEO of Priority. "Our
decision to enter into this agreement was simple. Strategically
speaking, Plastiq's buyer-driven B2B product suite is a natural
complement to our CPX Automated Payables offering, and the company
has an extremely talented team with a mindset that will fit
naturally into the collaborative and execution-oriented culture at
Priority. Since we are already partners for payment processing, we
are well positioned to help support the restructuring and Plastiq's
customers as the company emerges stronger from the process."

"We are excited that Priority believes in Plastiq's business and
the potential for the future of Plastiq, Powered by Priority. We
know it can be a great fit for our customers and employees as we
drive our operation forward," said Eliot Buchanan, CEO of Plastiq.
"As a leader in B2B and Enterprise payments, Priority's Passport
financial tool set already has the resources to advance our
offering and we are encouraged by the potential to deliver
Plastiq's solutions to Priority's over 250 thousand merchants and
distribution partners within its SMB acquiring division."

The existing partnership and potential to acquire the assets of
Plastiq through the restructuring process is just one more example
of the unique capabilities of Priority and our Passport payments
and banking operating engine," continued Priore. "We will quickly
help Plastiq optimize and scale operations, immediately increase
distribution channels, and provide complimentary B2B resources and
strategic vision to drive their success and our investors' long
term enterprise value. Just as we have done in the past, acquiring
under-optimized payment assets like Cynergy Data and Rent
Payments.com and making them high performers, we are confident that
the combined vision we have with Plastiq's employees and founders
will create exceptional value."

Additional Information

Plastiq filed voluntary petitions for relief under Chapter 11 of
Title 11 the U.S. Code in the Bankruptcy Court on May 24, 2023. The
Purchase Agreement is subject to certain customary closing
conditions, including certain orders being entered by the
Bankruptcy Court. The Purchase Agreement is also subject to higher
and better offers Plastiq may receive during the auction process.

                About Priority Technology Holdings

Priority is a payments technology company that leverages a
purpose-built platform to enable clients to collect, store and send
money, operating at scale. Priority helps its customers take and
make payments while managing business and consumer operating
accounts to monetize payment networks. Priority's tailored, agile
technology powers high-value payments products bolstered by
industry-leading personalized support, and delivers value to its
partners by leveraging its payments and embedded finance technology
to deliver solutions that power modern commerce. The Company's
approach is simple – Priority handles the complexities of
payments and embedded finance to free its partners to focus on
their core business objectives. Priority's solutions are offered
via API or proprietary applications with nationwide money
transmission licenses, providing end-to-end operational support
including automated risk management and underwriting, full
compliance and industry leading customer service. Additional
information can be found at www.prioritycommerce.com.

                        About Plastiq

Founded in 2012, Plastiq is a leading B2B payments company for
SMBs. Plastiq has helped tens of thousands of businesses improve
cash flow with instant access to working capital, while automating
and enabling control over all aspects of accounts payable and
receivable. Plastiq provides growing finance teams with technology
and know-how once reserved for only large enterprises. The flagship
product, Plastiq Pay, pioneered a way for businesses to pay
suppliers by credit card regardless of acceptance as an alternative
to expensive, scarce bank loan options. Plastiq Accept offers an
alternative to expensive merchant services, enabling businesses to
accept credit cards with no merchant fees and get paid across any
customer touch point, including a website, invoice, checkout
process, and in person via QR code. The Plastiq Connect API suite
enables platforms, marketplaces, and ERPs, to expand B2B payment
options for payables and receivables in their native customer
experience while outsourcing payment execution, risk, and
compliance.


PORTER'S PENINSULA: Court OKs Interim Cash Collateral Access
------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Michigan,
Northern Division, authorized Porter's Peninsula Logging LLC to use
cash collateral on an interim basis in accordance with the budget.

The Debtor requires the use of up to $29,000 per month through the
end of May 2023 or until the final hearing on the matter.

The Debtor requires the use of cash collateral to pay its
continuing obligations incurred in the ordinary course of its
business.

The only party that expresses a secured interest in the cash
collateral is B2B Financing, asserting two separate liens in the
approximate amounts of $11,488 and $60,445 with Financing
Statements in the name of Corporation Service Company, as
Representative.

As of the Petition Date, the Debtor estimates the value of its
accounts receivable to be $7,200; cash in deposit accounts was
$6,000; and inventory was valued at $2,300.

The Debtor is directed to keep the cash collateral party insured
against loss or damage resulting from fire, flood or other hazards,
casualties and contingencies.

The Cash Collateral Party will have a post-petition lien in the
cash collateral to the same extent and priority as they possessed
on the Petition Date.

The Debtor will retain its level of accounts receivable, inventory
and cash an amount of at least as much as the value of cash
collateral on the day of filing. Cash collateral owned by the
Debtor at the Petition Date is $15,500.

A final hearing on the matter is set for June 15, 2023 at 10 a.m.

A copy of the motion is available at https://urlcurt.com/u?l=n8s0IN
from PacerMonitor.com.

A copy of the order is available at https://urlcurt.com/u?l=itnVEY
from PacerMonitor.com.

               About Porter's Peninsula Logging LLC

Porter's Peninsula Logging LLC operates a logging business. The
Debtor sought protection under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. E.D. Mich. Case No. 23-20563) on May 19, 2023. In the
petition signed by Todd M. Porter, sole member, the Debtor
disclosed up to $500,000 in assets and up to $10 million in
liabilities.

Judge Daniel S. Oppermanbaycity oversees the case.

Rozanne M. Giunta, Esq., at Warner Norcross & Judd, LLP, represents
the Debtor as legal counsel.



POSEIDON MOVING: Unsecured Owed $473K to Get 100 Cents on Dollar
----------------------------------------------------------------
Poseidon Moving, Inc., submitted a Plan of Reorganization for Small
Business Under Chapter 11.

The Plan Proponent's financial projections show that the Debtor
will have projected disposable income (as defined by s 1191(d) of
the Bankruptcy Code for the period described in s 1191(c)(2) of an
average of $ $21,131.14 for 2023, $23,401.57 for 2024, $19,912.20
for 2025, $15,527.25 for 2026, $21,614.72 fort 2027, & $23,240.48
for 2028.

The final Plan payment is expected to be paid on the date that is
60 months following the date of confirmation of the Plan, or sooner
based upon the actual net profit generated as set forth in the
accompanying cash flow projections.

This Plan of Reorganization under chapter 11 of the Bankruptcy Code
proposes to pay creditors of Poseidon Moving, Inc. from the cash
flow of present and future business operations.

Non-priority Unsecured Creditors holding allowed claims will
receive distributions, which the proponent of this Plan has valued
at approximately 100 cents on the dollar.

Under the Plan, Class 3 All Non-Priority Unsecured Claims consist
of 7 Unsecured Claims allowed under s 502 of the Code amounting to
a total of $473,628.91, of creditors that have either been listed
on the Debtor's Schedule "E/F" as non-contingent, undisputed and
liquidated or that have filed a non-priority unsecured claim prior
to the bar date of March 23, 2023. It specifically excludes any
claims of Ryder Truck Rental, Inc. (that did not timely file a
proof of claim) or any claim of Oleg Remeyev, President of the
Debtor. The claims within this class from shall be paid in full
from post-confirmation plan payments made by the Reorganized Debtor
to the Subchapter V Trustee during the last 48 months of the Plan
following Confirmation. Class 3 is impaired.

The Plan will be implemented by the Reorganized Debtor making a
series of monthly payments to the Subchapter V Trustee, who shall
be the distribution agent for all payments made to Administrative
Expense Claim Holders listed in Section 3.02, Priority Tax
Creditors in Section 3.03, and Classes 1 and 3 in Article IV of
this Plan (the "Payment Recipients"). A Payment Schedule for
payments to be made by the Reorganized Debtor is set forth in
Exhibit "C" attached hereto. From the monthly payments received by
the Subchapter V Trustee, the Trustee may retain a portion of each
said payment, not to exceed 10% of all distributions to thereafter
to be made by him to Payment Recipients.

A copy of the Plan of Reorganization dated May 12, 2023, is
available at https://bit.ly/3pLEHrG from PacerMonitor.com.

                      About Poseidon Moving

Poseidon Moving, Inc. provides moving and temporary storage
services to its customers. The majority of its business revenues
come from payments from retail and consumer customers.

The Debtor sought protection for relief under Chapter 11 of the
Bankruptcy Code (Bankr. D. Mass. Case No. 23-10031) on Jan. 12,
2023, listing $100,001 to $500,000 in assets and $500,001 to $1
million in liabilities.

Judge Christopher J Panos presides over the case.

Richard N. Gottlieb, Esq. at the Law Offices of Richard N. Gottlieb
and TicTax, LLC serve as the Debtor's legal counsel and accountant,
respectively.


PRODUCE DEPOT: Court Extends Time to Confirm Plan to July 7
-----------------------------------------------------------
In Produce Depot USA LLC's Chapter 11 case, Judge Vincent F.
Papalia has entered an order that the time to confirm a Chapter 11
Small Business Disclosure Statement together with a Chapter 11
Small Business Chapter 11 Plan of Produce Depot USA LLC will be
extended though and including July 7, 2023.

                    About Produce Depot USA

Produce Depot, LLC, is a merchant wholesaler of grocery and related
products in Brooklyn, N.Y.

Produce Depot sought Chapter 11 bankruptcy protection (Bankr.
E.D.N.Y. Case No. 22-40412) on March 2, 2022, listing $1,660,488 in
liabilities.  On June 9, 2022, the case was transferred to the U.S.
Bankruptcy Court for the District of New Jersey (Bankr. D.N.J. Case
No. 22-14771).

Alla Kachan, Esq., at the Law Offices of Alla Kachan, P.C., is the
Debtor's counsel.


PROTECH FIRE: May Use $61,393 of Cash Collateral
------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Texas,
Houston Division, authorized Protech Fire & Security, LLC to use
cash collateral on an interim basis in accordance with the budget.

The Debtor is permitted to use $61,393 of funds post-petition to
meet the expenses, except that the payments to be made to secured
creditors for pre-petition debts will be held by the debtor in
escrow pending the Final Hearing.

The Court said the U.S. Small Business Administration will have
valid, post-petition replacement liens equal in validity and
priority to those held pre-petition.

Itria Ventures, LLC will have valid, post-petition replacement
liens equal in validity and priority to those held pre-petition, if
any, provided that (a) the Debtor reserves the right to challenge
the validity, extent, priority, and procurement of the underlying
debt and any associated liens; (b) Itria Ventures, LLC reserves the
right to argue that it owns all of the Debtor's accounts receivable
and that such accounts receivable do not constitute property of the
Debtor's estate.

On the bankruptcy filing date, the Debtor held only $431,415 in
cash collateral which included uncollectible accounts receivable.

All customers and general contractors of the Debtor will remit
payments directly to the Debtor and not to Itria Ventures, LLC.

A final hearing on the matter is set for June 13, 2023 at 2:30
p.m.

A copy of the Court's order and the Debtor's budget is available at
https://urlcurt.com/u?l=tFy7PL from PacerMonitor.com.

The Debtor projects $62,000 in income and $61,393 in expenses for
one month.

               About ProTech Fire & Security, LLC

ProTech Fire & Security, LLC installs, monitors and maintains fire
and security alarms, surveillance systems, access control, voice
and data solutions, bi-directional antenna BDA and a host of other
ancillary products and services for general contractors,
architects, property managers and end users in the State of Texas.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Tex. Case No. 23-31839) on May 19,
2023. In the petition signed by Garrett Steiger, president, the
Debtor disclosed $453,929 in assets and $1,896,142 in liabilities.

Judge Eduardo V. Rodriguez oversees the case.

Julie M. Koenig, Esq., at Cooper & Scully, PC, represents the
Debtor as legal counsel.

Itria Ventures, LLC, as lender, is represented by:

     Matthew B. Stein, Esq.
     David Mark, Esq.
     Kasowitz Benson Torres LLP
     1633 Broadway
     New York, NY 10019
     Tel: (212) 506-1700
     Email: MStein@kasowitz.com
            DMark@kasowitz.com

          - and -

     J. Michael Wilson, Esq.
     Kasowitz Benson Torres LLP
     1415 Louisiana Street, Suite 2100
     Houston, TX 77002
     Tel: (713) 220-8821
     Email: MWilson@kasowitz.com


QUALITY HEATING: Committee Taps Morris James as Legal Counsel
-------------------------------------------------------------
The official committee of unsecured creditors of Quality Heating &
Air Conditioning Company, Inc. received approval from the U.S.
Bankruptcy Court for the District of Delaware to employ Morris
James, LLP as its counsel.

The committee requires legal counsel to:

     (a) assist in consultations with the Debtor relative to the
administration of its reorganization;

     (b) review and analyze statements of operations, schedules and
legal documents filed with the court;

     (c) prepare legal papers;

     (d) represent the committee at hearings held before the court
and communicate with the committee regarding the issues raised, as
well as the decisions of the court; and

     (e) perform other legal services for the committee, which may
be reasonably required in this proceeding.

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

     Eric J. Monzo, Partner            $795
     Tara C. Pakrouh, Associate        $660
     Jason S. Levin, Associate         $450
     Stephanie Lisko, Paralegal        $350
     Douglas J. Depta, Paralegal       $350

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

Eric Monzo, Esq., an attorney at Morris James, disclosed in a court
filing that his firm is a "disinterested person" pursuant to
Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Eric J. Monzo, Esq.
     Jason S. Levin, Esq.
     500 Delaware Avenue, Suite 1500
     Wilmington, DE 19801
     Telephone: (302) 888-6800
     Facsimile: (302) 571-1750
     Email: emonzo@morrisjames.com
     Email: jlevin@morrisjames.com

          About Quality Heating & Air Conditioning Company

Quality Heating & Air Conditioning Company, Inc. sought protection
under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case
No. 23-10354) on March 27, 2023, listing up to $50 million in both
assets and liabilities.

Judge Karen B. Owens oversees the case.

The Debtor tapped Gellert Scali Busenkell & Brown, LLC as legal
counsel and SC&H Group, Inc. as investment banker. Epiq Corporate
Restructuring, LLC is the claims and noticing agent.

The U.S. Trustee for Region 3 appointed an official committee to
represent unsecured creditors in the Debtor's Chapter 11 case. The
committee is represented by Morris James, LLP.


QUALTEK SERVICES: Case Summary & 30 Largest Unsecured Creditors
---------------------------------------------------------------
Lead Debtor: QualTek Services Inc.
             475 Sentry Parkway E, Suite 200
             Blue Bell, Pennsylvania 19422

Chapter 11 Petition Date: May 24, 2023

Court: United States Bankruptcy Court
       Southern District of Texas

Eighteen affiliates that concurrently filed voluntary petitions for
relief under Chapter 11 of the Bankruptcy Code:

   Debtor                                         Case No.
   ------                                         --------
   QualTek Services Inc. (Lead Case)              23-90584
   QualTek Renewables LLC                         23-90583
   QualSat, LLC                                   23-90585
   QualTek MidCo, LLC                             23-90586
   Urban Cable Technology LLC                     23-90587
   QualTek HoldCo, LLC                            23-90588
   Site Safe, LLC                                 23-90589
   QualTek Recovery Logistics LLC                 23-90590
   QualTek Buyer, LLC                             23-90591
   Concurrent Group LLC                           23-90592
   The Covalent Group LLC                         23-90593
   QualTek LLC                                    23-90594
   QualTek Wireless LLC                           23-90595
   QualTek Management, LLC                        23-90596
   QualTek Fulfillment LLC                        23-90597
   QualTek Wireline LLC                           23-90598
   NX Utilities ULC                               23-90599
   AdvanTek Electrical Construction, LLC          23-90600

Business Description: QualTek is a turnkey provider of
                      infrastructure services and renewable
                      energy solutions to the North American
                      telecommunications and power industries.
                      QualTek provides a variety of mission-
                      critical services across the
                      telecommunications and renewable energy  
                      value chain, including wireline and fiber
                      optic terminations, wireless, fiber-to-the-  
              
                      home, and customer fulfillment activities.

Judge: Hon. Christopher M. Lopez

Debtors'
General
Bankruptcy
Counsel:               Joshua A. Sussberg, P.C.
                       Christopher T. Greco, P.C.
                       KIRKLAND & ELLIS LLP
                       KIRKLAND & ELLIS INTERNATIONAL LLP
                       601 Lexington Avenue
                       New York, New York 10022
                       Tel: (212) 446-4800
                       Fax: (212) 446-4900
                       Email: joshua.sussberg@kirkland.com
                              christopher.greco@kirkland.com

                         - and -

                       Jaimie Fedell, Esq.
                       300 North LaSalle Street
                       Chicago, Illinois 60654
                       Tel: (312) 862-2000
                       Fax: (312) 862-2200
                       Email: jaimie.fedell@kirkland.com

Debtors'
Local
Bankruptcy
Counsel:               Matthew D. Cavenaugh, Esq.
                       Genevieve M. Graham, Esq.
                       Emily Meraia, Esq.
                       JACKSON WALKER LLP
                       1401 McKinney Street, Suite 1900
                       Houston, TX 77010
                       Tel: (713) 752-4200
                       Fax: (713) 752-4221
                       Email: ggraham@jw.com
                              emeraia@jw.com

Debtors'
Investment
Banker:                JEFFERIES LLC
    
Debtors'
Restructuring
Advisor:               ALVAREZ & MARSAL

Debtors'
Notice &
Claims
Agent:                 EPIQ CORPORATE RESTRUCTURING, LLC

Debtors'
Communications
Advisor:               C STREET ADVISORY GROUP, LLC

Total Assets as of Dec. 31, 2022: $688,927,000

Total Debts as of Dec. 31, 2022: $789,647,000

The petitions were signed by Cari Turner as chief restructuring
officer.

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

https://www.pacermonitor.com/view/Q2MRZ2A/QualTek_Services_Inc__txsbke-23-90584__0001.0.pdf?mcid=tGE4TAMA

Consolidated List of Debtors' 30 Largest Unsecured Creditors:

   Entity                            Nature of Claim  Claim Amount

1. Wilmington Trust,                  SR Unsecured    $124,685,000
National Association as                  Notes
Trustee
1100 N. Market Street
Wilmington, DE 19890
United States
Attn: Quinton M. Depompolo
Tel: (302) 651-1000 &
     (612) 217-5642
Fax: (612) 217-5651
Email: qdepompolo@wilmingtontrust.com

- and -

Wilmington Trust,
National Association as
Trustee
50 South Sixth Street
Suite 1290
Minneapolis, MN 55402
Attn: Qualtek Notes
Administrator

2. TRA Holder Representative               Tax         $15,084,000
BCP Qualtek, LLC                        Receivable
650 5th Avenue                          Agreement
New York, NY 10019
United States
Attn: Andrew Weinberg
Tel: (212) 430-2500
Email: andrew@brightstarcp.com

- and -

Attn: Matthew Allard
Tel: (212) 430-2500
Email: matthew@brighstarcp.com

3. Network Wireless                   Trade Payable     $2,676,642
Solutions, LLC
101 W Chapel Hill St,
Ste 210
Durham, NC 27701-3255
United States
Attn: Xavier Williams
Phone: (919) 294-6497
Email: xavier@nwswireless.com

4. Industrial Communications, LLC     Trade Payable     $2,650,346
40 Lone Street
Marshfield, MA 02050
United States
Attn: Michael Umano
Tel: (781) 319-1000
Email: mjumano@industrialcommunications.com

5. Talley Inc.                       Trade Payable      $2,237,017
12976 Sandoval St.
Santa Fe Springs, CA 90670
United States
Attn: Mark Talley
Tel: (562) 906-8000
Email: mtalley@talley.com

6. Apex Site Solutions               Trade Payable      $1,770,608
9749 Kent St
Elk Grove, CA 95624
United States
Attn: Kenny Blakeslee
Phone (916) 685-8619
Email: kenny@apexsitesolutions.com

7. CIGNA                             Trade Payable      $1,150,715
900 Cottage Grove Road
Bloomfield, CT 06002
United States
Attn: David Cordiani
Title: CEO
Phone: (800) 244-6224
Email: david.cordani@cigna.com

8. R.L. Clotworthy                   Trade Payable      $1,099,799
Construction, Inc.
26079 Jefferson Avenue
Murrieta, CA 92562-6983
United States
Attn: Rick Clotworthy
Title: President
Phone: (951) 693-5130
Fax: (951) 693-5240
Email: rick@clothworthyconstruction.com

9. G&A Innovation                    Trade Payable      $1,056,866
Construction
16731 Santa Ana Ave
PMB 310879
Fontana, CA 92337
United States
Attn: Gerardo Robles
Title: President
Phone: (714) 200-3642
Email: grobles@gainnovations.com

10. Atlas Engineering                Trade Payable        $945,468
Construction Inc.
1333 Big Ben Road
Lincoln, CA 95648
United States
Attn: Carly Crawford
Title: Owner
Phone: (916) 717-5886
Email: ccrawfod@atlastelecom.net

11. Creative Works                   Trade Payable        $941,100
5070 Mountain Lakes Blvd.
Redding, CA 96003
United States
Attn: Eric Mason
Title: Owner
Phone: (530) 949-0824
Email: superiortraffice@yahoo.com

12. BayOne Solutions, Inc.           Trade Payable        $932,745
4637 Chabot Dr #250
Pleasanton, CA 94588
United States
Attn: Yogesh Virmani
Title: CEO/Co-Founder
Phone: (888) 537-8068
Email: yvirmani@bayone.com

13. RLS-CMC, Inc.                    Trade Payable        $923,589
8804 W. Spanish Ridge
Avenue, Suite 100
Las Vegas, NV 89148
United States
Attn: Roger Sanchez
Title: President
Phone: (800) 909-7568
Email: roger.sanchez@rls-cmc.com

14. Valmont Telecommunications Inc.  Trade Payable        $915,126
15000 Valmont Plaza
Omaha, NE 68154
United States
Attn: Stephen Kaniewski
Title: CEO
Phone: (402) 963-1000
Email: skaniewski@valmont.com

15. NRCI Telecom                     Trade Payable        $855,323
265 Applegate School Rd
Applegate, CA 95703
United States
Attn: Terry Rogers
Title: VP
Phone: (530) 878-3970
Email: terryrogers@ncrcitelecom.com

16. Lynx Wireless                    Trade Payable        $823,310
Services, LLC
5100 Bald Cypress LN
McKinney, TX 75071
United States
Attn: Jeff Sokolosky
Title: President
Phone: (214) 592-3873
Email: jeff@lwswireless.com

17. Tri-Square Construction          Trade Payable        $792,162
Company, Inc.
994 Hillside Circle
El Dorado Hills, CA
95762
United States
Attn: Shannon Baggaley
Title: CFO
Tel: (916) 933-3530
Fax: (916) 933-3509
Email: shannon@tri-square.com

18. Quality Telecom                  Trade Payable        $735,360
Consultants, Inc.
4175 Cincinnati Avenue
Rocklin, CA 95765
United States
Attn: Layunie Matthews
Title: CFO
Phone: (916) 315-0500
Email: lmatthews@qualitytelecominc.com

19. Tricom Networks Inc.             Trade Payable        $710,340
24335 Prielipp Rd
Ste 108
Wildomar, CA 92595
United States
Attn: Scot Payne
Title: COO
Phone: (800) 317-8957
Email: spayne@tricomnetworks.com

20. Northwest Union Inc.             Trade Payable        $694,082
2424 State Rd. #7
Bensalem, PA 19020
United States
Attn: Konstantin Sinkevich
Title: President
Tel: (267) 997-5403
Fax: (215) 754-4623
Email: konstantin@northeastunion.com

21. Integer Telecom                  Trade Payable        $687,945
Services Inc.
4200 Mapleshade LN,
Ste 100
Plano, TX 75093
United States
Attn: Amar Uppalapati
Title: Founder
Phone: (972) 539-4100
Email: amar@integertel.com

22. Speciality Construction, Inc.    Trade Payable        $641,018
645 Clarion Court
San Luis Obispo, CA 93401
United States
Attn: Chris Teaford
Title: CFO
Phone: (805) 543-1706
Email: cteaford@speacialtyconstruction.com

23. PPL Electric                     Trade Payable        $631,182
Utilities Corp
2 N Ninth St
Allentown, PA 18104-9392
United States
Attn: Vincent Sorgi
Title: CEO
Phone: (610) 774-5151
Email: vsorgi@pplweb.com

24. Sunbelt Rentals, Inc.            Trade Payable        $630,138
2341 Deerfield Dr
Fort Mill, SC 29715
United States
Attn: Brendan Horgan
Title: CEO
Phone: (803) 578-5811
Email: bhorgan@sunbeltrentals.com

25. CJB Communications, Inc.         Trade Payable        $616,302
11419 Sunriser Gold
Circle 1
Rancho Cordova, CA 95742
United States
Attn: Zach Rasmussen
Title: CEO
Phone: (530) 402-1370
Email: zach@cjbcommunications.net

26. HotelEngine, Inc.                Trade Payable        $589,076
950 S Cherry St, 10th Floor
Denver, CO 80246
United States
Attn: Elia Wallen
Title: CEO
Phone: (855) 567-4683
Email: elia@hotelengine.com

27. Master Inside Corp               Trade Payable        $573,330
46-21 54th Rd
Maspeth, NY 11378
United States
Attn: Hector Vallejo
Title: CEO
Phone: (917) 847-3958
Email: hector@mastericorp.com

28. CS Mobile Inc.                   Trade Payable        $572,140
2591 Dallas Pkwy
Ste. 300
Frisco, TX 75034
United States
Attn: Casey Souther
Title: CEO
Phone: (214) 491-6171
Email: caseys@csmobileinc.com

29. Swartley Brothers                Trade Payable        $571,579
Engineers
10 Schoolhouse Rd #1
Souderton, PA 18964
United States
Attn: Greg Weikel
Title: Manager
Phone: (215) 368-7400
Email: gweikel@swartley.com

30. Construction                     Trade Payable        $561,247
Services of Branford, LLC
63 N Branford Rd #3
Branford, CT 06405
United States
Attn: Carlo Centore
Title: Managing Member
Tel: (203) 488-0712
Fax: (203) 481-1135
Email: ccentore@csofb.com


QUALTEK SERVICES: Files for Chapter 11 With Plan Deal
-----------------------------------------------------
QualTek Services Inc., a leading infrastructure services provider,
on May 24 announced a restructuring transaction that will position
it to achieve long-term success in the telecom, renewables, and
recovery logistics sectors. The restructuring transaction reduces
the Company's debt by approximately $307 million and provides $40
million of additional liquidity, substantially improving the
Company's balance sheet and financial position.

To facilitate the financial restructuring, the Company and certain
of its subsidiaries have filed voluntarily petitions for Chapter 11
cases in the United States Bankruptcy Court for the Southern
District of Texas. QualTek expects significant support of its
lenders through this process, including at least 85% of the
Company's secured debt holders and approximately 80% of its
convertible noteholders. The Company will be filing a Restructuring
Support Agreement ("RSA") and Plan of Reorganization ("Plan"),
which contemplates that, upon emergence from Chapter 11, there will
be new ownership comprised of the Company's existing lenders and
management team.

"For more than a decade, QualTek has provided critical services
across the U.S. telecommunications and utilities industries," said
QualTek's Chief Executive Officer Scott Hisey. "The transactions
announced today will position our company to continue providing
best-in-class service to our customers, remain a dedicated employer
of our military veterans, and build on our industry-respected track
record. We are entering this process with the overwhelming support
of our lenders and customers, which we expect will enable us to
move through this process quickly and without disruption. With the
continued dedication of our employees and partners, we plan to
emerge stronger and ready to build for the future."

The RSA provides a better roadmap for QualTek to emerge swiftly
from Chapter 11 with a strong balance sheet and positioned to
invest in growth. Under the terms of the RSA, the Company
contemplates a $65 million debtor-in-possession term loan financing
facility ("DIP Facility"), which will include a new money funding
of $40 million. Upon approval by the Court, the DIP Facility will
provide the Company with the stability and liquidity needed to
continue operations in the ordinary course of business and pay
vendors during the reorganization. Management continues to lead the
business, roles and responsibilities across the team remain the
same, and operations across the Company are expected to continue as
usual.

Additional Information about the Financial Restructuring
QualTek is filing customary "First Day Motions" with the Court to
facilitate a smooth transition into Chapter 11. These motions,
which the Company expects to be approved in short order, include
requests to pay wages and benefits, pay trade vendors, and ensure
the continuation of business operations without interruption. The
Company will continue servicing its existing customers, vendors,
partners, and other stakeholders in the ordinary course of
business.

Additional information about the Company's financial restructuring
is available on the website of its claims agent, Epiq, at
https://dm.epiq11.com/QualTek. With questions, stakeholders can
contact Epiq at (877) 609-4009 Toll Free or +1 (503) 447-4703 from
outside the U.S. or Canada, or by emailing QualTek@epiqglobal.com.

                            Advisors

Kirkland & Ellis LLP and Jackson Walker LLP are serving as legal
counsel, Jefferies is serving as investment banker, and Alvarez &
Marsal is serving as financial advisor to the Company. The Company
has retained C Street Advisory Group to serve as the strategy and
communications advisor.

                         About QualTek

Founded in 2012, QualTek (NASDAQ: QTEK) --
https://www.qualtekservices.com -- is a leading technology-driven
provider of infrastructure services to the 5G wireless, telecom,
power grid modernization and renewable energy sectors across North
America. QualTek has a national footprint with more than 65
operation centers across the U.S. and a workforce of over 5,000
people. QualTek has established a nationwide operating network to
enable quick responses to customer demands as well as proprietary
technology infrastructure for advanced reporting and invoicing. The
Company reports within two operating segments: Telecommunications,
and Renewables and Recovery and has already become a leader in
providing disaster recovery logistics and services for electric
utilities.



R7 LEASE: Court OKs Deal on Cash Collateral Access
--------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Pennsylvania
authorized R7 Lease Purchase, Inc. to use cash collateral on an
interim basis in accordance with its agreement with Manufacturers
and Traders Trust Company.

The Debtor requires the use of cash collateral to continue its
operations.

Prior to the Petition Date, Lender extended to the Debtor:

     (i) a $50,000 business access line of credit loan, as
evidenced by, among other things, a Business Access Line of Credit
Note, dated June 11, 2019, executed and delivered by the Debtor to
the order of Lender; and

    (ii) a $554,000 commercial U.S. Small Business Administration
Loan, as evidenced by, among other things, a U.S. Small Business
Administration Note, dated June 11, 2019, executed by the Debtor to
the order of the Lender.

The indebtedness and obligations owed by the Debtor under the Loans
and the Notes are secured by first-priority duly perfected liens
and security interests in, to and against all business assets of
the Debtor pursuant to and as more particularly described in a
General Security Agreement, dated June 11, 2019, executed by the
Debtor and delivered to the Lender and a UCC financing statement
properly recorded among the records of State Department of
Assessment and Taxation.

The Lender is (a) the current owner and holder of the Loans and the
Loan Documents; (b) the owner and holder of all liens and security
interests against the Prepetition Collateral securing the Loan; (c)
entitled to collect all indebtedness owed under the Loans and the
Loan Documents from the Debtor; and (d) entitled to exercise and
enforce all available rights and remedies under the Loan Documents
and applicable law with respect to the Debtor and the Prepetition
Collateral.

As of the January 6, 2023, the total balance due and owing by the
Debtor under the Loan Documents was $537,848. In addition, there
may be due and owing, to the extent permitted by 11 U.S.C. section
506(b), from the Debtor, all interest and late charges which accrue
after the Petition Date plus all expenses and fees.

The Lender consented to the Debtor's use of cash collateral in
accordance with the budget, with a 10% variance.

The Debtor will not:

     (i) loan or advance any money to any person or entity for any
reason;

    (ii) pay any dividend, distribution or other funds, to any of
the Debtor's shareholders, officers or directors; or

   (iii) redeem any stock in the Debtor or make any installment
payment, distribution or other transfer to any shareholder or
former shareholder of the Debtor in connection with a previous
stock redemption.

The authorization granted to the Debtor will terminate upon the
earlier of:

     (a) June 30, 2023, at 4 p.m.;

     (b) the entry by the Court of an order denying the Debtor's
authorization to use cash collateral; or

     (c) at the Lender's option, upon the occurrence of an Event of
Default after notice and the expiration of the cure period as set
forth therein.

The Debtor is directed to maintain fire, liability, casualty and
other hazard insurance with respect to all of the Assets to the
extent insurable, in amounts and under such insurance policies as
are acceptable to the Lender.

As adequate protection, the Lender is granted valid, choate,
perfected, enforceable and non-avoidable first-priority security
interests and liens in, to and against all post-petition property
and assets of the Debtor.

In addition to the liens and security interests granted to the
Lender in the Order, but only to the extent that the adequate
protections granted are insufficient to provide adequate protection
for the Lender's interests in the cash collateral after the
Petition Date, the Lender is entitled to seek, pursuant to the
provisions of 11 U.S.C. section 507(b), over all administrative and
priority expenses incurred in the Chapter 11 case.

As further adequate protection, the Debtor will tender to the
Lender, in immediately available funds, monthly payments each in
the amount of $1,500.

These events constitute an "Event of Default":

      (i) Upon a default under the terms of the Order, or if the
Debtor fails to comply with any term or condition set forth
therein;

     (ii) The Debtor fails to timely deliver the Adequate
Protection Payments;

    (iii) If the Debtor's uses cash collateral for a purpose not
expressly authorized by the Order;

    (iv) If a tax creditor or any other creditor seeks relief from
the automatic stay with respect to all or part of the Lender
Collateral;

     (v) If the Order is modified, stayed, or amended without the
Lender's consent;

    (vi) If a claim or action is instituted, the purpose of which
is to seek or obtain any relief invalidating, setting aside,
avoiding or subordinating, the Indebtedness, the Loan Documents or
the Lender's liens, security interests, mortgages, rights of
setoff, or claims in the Lender Collateral;

   (vii) If the Debtor discontinues its business or is ordered to
discontinue its business;

  (viii) If the Debtor's Chapter 11 case is converted or dismissed;


    (ix) If the Debtor files a motion seeking to convert or dismiss
the Debtor's Chapter 11 case; or

     (x) If the Debtor institutes an action seeking the granting or
imposition, under 11 U.S.C. Section 364 or otherwise, liens,
security interests, or mortgages on any of the Lender Collateral
equal or superior to the Lender's interest in that property.

A further hearing on the matter is set for June 28, 2023 at 12:30
p.m.

A copy of the order is available at https://urlcurt.com/u?l=rYed11
from PacerMonitor.com.

                    About R7 Lease Purchase

R7 Lease Purchase, Inc., is a corporation in the business of making
short term leases of personal property to individuals and companies
in Southeastern Pennsylvania.

R7 Lease Purchase sought protection for relief under Chapter 11 of
the Bankruptcy Code (Bankr. E.D. Pa. Case No. 22-13287) on Dec. 7,
2022, with $100,001 to $500,000 in assets and $500,001 to $1
million in liabilities.  

Judge Ashely M. Chan oversees the case.

Ellen M. McDowell, Esq., at Mcdowell Law, PC and Whitsell and
Company, P.C. are the Debtor's legal counsel and accountant,
respectively.



RETAIL ECOMMERCE: Advised by CohnReznick on RadioShack Auction
--------------------------------------------------------------
CohnReznick Capital Markets Securities, LLC ("CRC") marketed and
ran a successful Article 9 Auction of RadioShack IP Assets,
including U.S. & International Trademark Registrations, U.S. &
International Patents, U.S & International Copyrights, all related
Internet Domain Names, all materials, images and content included
in the RadioShack Business Dealer Portal on the Novation Effective
Date, and all related Licenses.

The prevailing bidder was the Unicomer Group, through its affiliate
Global Franchising Corporation, who acquired RadioShack's
intellectual property assets and domains in about 70 countries
around the world, including the U.S., Canada, Europe, and China.

Founded in 1921, at its zenith RadioShack operated over 8,000
stores around the world. The iconic retailer created small stores
staffed by people who knew electronics and sold mainly private
brands to hobbyists and early home computer geeks. RadioShack ran
into headwinds and filed chapter 11 in February 2015, running 1,250
stores at the time. General Wireless, Inc., an acquisition entity
formed by PE firm Standard General, acquired the RadioShack assets
out of bankruptcy in April 2015, and the IP was subsequently sold
to a subsidiary of Retail Ecommerce Ventures (REV) in November 2020
for cash and a senior note. REV is a private company that over
several years acquired a series of nostalgic brands with the goal
to reposition them with an online presence.

Unfortunately REV did not service its senior note, and the senior
lender declared default in March 2023, which led to the Article 9
Auction of the IP Assets of RadioShack on May 2nd.  Grupo Unicomer,
through its affiliate Global Franchising Corporation prevailed at
the auction. The price was not disclosed.

Professionals that worked on the transaction included:
    * General Wireless team led by Kevin Petersen, with Richard
Jablonski & Ross Hefner
    * Counsel from the Seller was Detroit-based Honigman Glenn
Walter & Thomas Appledorn

From the Buyer Grupo Unicomer
    * Mario Siman & Rudy Siman from Unicomer
    * Zygmunt Brett & Sofia Quezada from BLP Law
    * Franz Lara and Fernando Jimenez from Capital Financial
Advisors in Costa Rica
    * And in the U.S., Nathan Haynes & David Greenberg from
Greenberg Traurig

Contacts on Deal:

CohnReznick Capital
Jeffrey R. Manning, Sr.
Managing Director
(917) 549-0312
jeff.manning@cohnreznickcapital.com

Ayanna Nibbs
Director of Marketing
(917) 594-0428
ayanna.nibbs@cohnreznickcapital.com

Joao Pedro Santos
Senior Associate
(929) 206-4681
jp.santos@cohnreznickcapital.com

CohnReznick Advisory
Eric Danner
Partner
(617) 875-6403

Molly Jobe
Senior Manager
(347) 899-1665

CohnReznick Capital Markets Securities LLC, a Maryland limited
liability company, is a member of FINRA and SIPC and is registered
as a broker dealer with the SEC - Qualified Institutional Investors
Only. For more information, please visit
http://www.cohnreznickcapital.com.

               About General Wireless Operations

Based in Fort Worth, Texas, General Wireless Operations Inc., doing
business as RadioShack -- http://www.RadioShack.com-- operates a
chain of electronics stores.  Its predecessor, RadioShack Corp.,
then with 4,000 locations, sought Chapter 11 protection (Bankr. D.
Del. Case No. 15-10197) in February 2015 and announced plans to
close underperforming stores.  In March 2015, Standard General
affiliate General Wireless won court approval to purchase
RadioShack Corp.'s assets, gaining ownership of around 1,700
RadioShack locations.  Two years later, General Wireless commenced
its own bankruptcy case, announcing plans to close 200 of 1,300
remaining stores.

General Wireless Operations Inc., and its affiliates based in Ft.
Worth, TX, filed a Chapter 11 petition (Bankr. D. Del. Lead Case
No. 17-10506) on March 8, 2017.  The petition was signed by
Bradford Tobin, SVP, general counsel.

In its petition, the Debtor estimated $100 million to $500 million
in both assets and liabilities.

Pepper Hamilton LLP is serving as counsel to the Debtors, Jones Day
as co-counsel, Prime Clerk, LLC as claims and noticing agent,
Loughlin Management Partners & Company, Inc.


RIALTO BIOENERGY: Anaergia Unit Pursues Chapter 11 Restructuring
----------------------------------------------------------------
Anaergia Inc. (TSX: ANRG) on May 25 disclosed that one of its
subsidiaries, Rialto Bioenergy Facility, LLC ("RBF"), initiated
voluntary Chapter 11 restructuring proceedings in the U.S.
Bankruptcy Court for the Southern District of California. RBF is
51% owned by Anaergia's wholly owned subsidiary, Anaergia Services,
LLC. RBF anticipates that, during the restructuring proceeding, it
will continue to operate its state-of-the-art, multi-feedstock
bioenergy facility in Rialto, California, which is capable of
converting organic waste, such as food and yard waste and
biosolids, into carbon-negative renewable natural gas, with the
capability to generate renewable electricity and soil
amendment/fertilizer.

The following is a brief summary of the matters the Company
considered:

   * The voluntary action by RBF was taken after much discussion
and review of alternatives. The Company supports this decision as a
necessary step to protect its long-term interests in RBF.

   * As a result of a lack of feedstock available to the facility,
RBF has been unable to produce sufficient revenue to cover its
costs and debt service. The feedstock shortfall is due to a delay
in the implementation and enforcement of laws requiring organic
waste diversion from landfills by the City of Los Angeles (the
"City") as required under the City's contracts with private waste
management companies as well under California State law SB1383. The
City is operating under a corrective action plan stemming from its
delayed efforts to adopt and enforce the law's waste diversion
requirements. State law SB1383's implementation was previously
delayed because of the effects of the pandemic. The City only
adopted an implementation ordinance in late 2022, which is fully
enforceable in January 2024.

   * Anaergia anticipates that with future adequate feedstock for
the RBF facility, made possible with additional time and relief
from debt service and other payments provided under a Chapter 11
restructuring to allow ramp up, the asset will retain long term
value for all stakeholders.

   * The Company expects the restructuring to have a positive
impact on its 2023 cash flows, as during the restructuring process
Anaergia would cease supporting RBF with further loans or equity
contributions.

   * Subject to the Company completing its in-depth review of the
relevant accounting standards and guidance, it is anticipated that
Anaergia will cease to control RBF from an accounting perspective,
and therefore cease consolidating RBF in its financial statements
for the quarter ending June 30, 2023. Anaergia, on a preliminary
basis, would expect the following financial impacts to result from
such a deconsolidation and restructuring:

        * The Company's loans and invested capital in RBF that were
previously eliminated on consolidation have a carrying value as at
March 31, 2023 of approximately C$115 million. Anaergia anticipates
recognizing a provision for up to the full amount of loans of C$60
million. The Company is assessing the value of its retained equity
interest in RBF as impacted by the initiation of restructuring
proceedings, which could decrease to C$Nil.

        * Since the debt of RBF is not guaranteed by and is
nonrecourse to the Company, as a result of the anticipated
deconsolidation, assuming the worst-case scenario of the ranges
above, is the Company estimates that Anaergia's total assets would
decrease by approximately 35-40%, and its total liabilities would
decrease by approximately 40%. Also, as a result of the anticipated
deconsolidation, the Company expects to reverse a significant
amount that has been recognized through Non-Controlling Interest.
Under the same assumptions, with an estimated 20% decrease, the net
equity attributable to the Company's common shareholders is
expected to be less impacted than the net equity attributable to
the Non-Controlling Interest.

   * Anaergia is in the process of completing the analysis of the
accounting and financial impacts for the quarter ended June 30,
2023. Anaergia's 2023 guidance is not expected to be materially
changed by the anticipated deconsolidation of RBF.

   * Anaergia anticipates that RBF will exit bankruptcy retaining
equity value and will continue to be a valuable part of Anaergia's
portfolio of global renewable natural gas assets.

Subject to court approval, RBF, as borrower, intends to enter into
a debtor-in-possession ("DIP") financing facility with a lender,
pursuant to which the lender will make available to RBF a
non-revolving secured credit facility. This financing facility will
enable RBF to continue to operate its business and meet its
financial obligations, including the timely payment of charges for
labor, supplies and other obligations as approved by the court.
Additionally, the Company will not be guarantying the DIP financing
facility, as RBF has more than sufficient value to support the new
loan. RBF is committed to working closely with its stakeholders to
minimize the impact of the bankruptcy process and to ensure that
its creditors are treated fairly.

"After careful evaluation by the managers of RBF, with due
consideration of a range of alternatives, the RBF board believes
that the Chapter 11 process is in the best interests of RBF and its
stakeholders. Debt restructuring will allow RBF to address its
liquidity challenges, preserve its ability to ramp up operations as
the availability of feedstock is expected to increase in tandem
with enforcement by the City of Los Angeles of subscription to
organic waste collection and landfill diversion requirements
mandated by ordinance and State law," said Yaniv Scherson, RBF
board member and Vice President of RBF and Chief Operating Officer
of Anaergia. "RBF is strongly supported by the State of California
and is critical to the success of SB 1383. We are confident that
these actions will help protect the value of RBF and allow it to
emerge as a stronger company."

                        About Anaergia

Anaergia was created to eliminate a major source of greenhouse
gases by cost effectively turning organic waste into renewable
natural gas (RNG), fertilizer and water, using proprietary
technologies. With a proven track record from delivering
world-leading projects on four continents, Anaergia is uniquely
positioned to provide end-to-end solutions for extracting organics
from waste, implementing high efficiency anaerobic digestion,
upgrading biogas, producing fertilizer and cleaning water. Our
customers are in the municipal solid waste, municipal wastewater,
agriculture, and food processing industries. In each of these
markets Anaergia has built many successful plants including some of
the largest in the world. Anaergia owns and operates some of the
plants it builds, and it also operates plants that are owned by its
customers.



RIALTO BIOENERGY: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Rialto Bioenergy Facility, LLC
        705 Palomar Airport Road, Suite 200
        Carlsbad, CA 92011

Chapter 11 Petition Date: May 25, 2023

Court: United States Bankruptcy Court
       Southern District of California

Case No.: 23-01467

Debtor's Counsel: Ron Bender, Esq.
                  LEVENE, NEALE, BENDER, YOO & GOLUBCHIK L.L.P.
                  2818 La Cienega Avenue
                  Los Angeles, CA 90034
                  Tel: (310) 229-1234
                  Email: rb@lnbyg.com

Estimated Assets: $100 million to $500 million

Estimated Liabilities: $100 million to $500 million

The petition was signed by Yaniv Scherson as vice president.

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

https://www.pacermonitor.com/view/ZD67DOQ/Rialto_Bioenergy_Facility_LLC__casbke-23-01467__0001.0.pdf?mcid=tGE4TAMA

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                      Nature of Claim        Claim Amount

1. R & S Industrial                                       $667,111
Field Services, Inc
P.O. Box 2796
Victorville, CA 92393
Tel: 760-987-5532

2. Santa Ana                                              $309,477
Watershed Project Authority
11615 Sterling Avenue
Riverside, CA 92503
Tel: 800-890-0269

3. Putzmeister America Inc.                               $237,641
1733 90th Street
Sturtevant, WI 53177
Tel: 559-487-7915

4. Anew Climate, LLC                                      $128,907
3200 Southwest
Freeway, Ste 1310
Houston, TX 77027
Tel: 909-820-3782

5. SoCal Gas                                              $117,547
PO Box C
Monterey Park, CA 91756
Tel: 909-923-2727

6. SoCal Edison                                           $100,741
P.O. Box 300
Rosemead, CA 91772
Tel: 714-349-0353

7. American Turn-Key                                       $81,167
Fabricators
9175 Milliken Avenue
Rancho Cucamonga, CA 91730
Tel: 281-207-7200

8. City of Rialto                                          $77,365
P.O. Box 800
Rialto, CA 92377
Tel: 479-498-0500

9. Aerzen USA Corporation                                  $74,990
108 Independence Way
Coatesville, PA 19320
Tel: 610-380-0244

10. Denali Water                                           $61,642
Solutions LLC
PO Box 3036
Russellville, AR
72801
Tel: 800-655-4555

11. SB Industrial                                          $54,941
Vacuum Service Inc.
PO Box 310097
Fontana, CA 92331
Tel: 800-806-6266

12. Bare Ground                                            $53,640
Electric, Inc
PO Box 90040
San Bernardino, CA 92427
Tel: 323-491-4077

13. Professional Boiler Repair                             $52,462
PO Box 7525
Huntington Beach,
CA 92615
Tel: 562-824-3845

14. Richard Price                                          $49,895
Automation, Inc
815 Anchorage Place
Chula Vista, CA 91914
Tel: 951-653-2171

15. Mayekawa USA, Inc.                                     $49,501
29875 Medline Lane
Katy, TX 77494
Tel: 619-757-6932

16. Schwing Bioset Inc                                     $46,626
350 SMC Drive
Somerset, WI 54025
Tel: 951-277-5104

17. Avensys Solutions Inc.                                 $45,219
300 rue Stinson
Saint-Laurent QC
H4N 2E7
Canada
Tel: 909-350-2551

18. W.M. Lyles Co.                                         $39,735
42142 Roick Drive
Temecula, CA 92590
Tel: 559-487-7915

19. Waste Management                                       $36,021
10910 Dawson
Canyon Road
Corona, CA 92883
Tel: 909-850-2546

20. Aerzen Rental USA LLC                                  $35,546
5500 South Cobb
Drive SE, BLDG 50
Atlanta, GA 30339
Tel: 800-427-2200


SCHON ELISE: Case Summary & One Unsecured Creditor
--------------------------------------------------
Debtor: Schon Elise, LLC
        8876 Spanish Ridge Avenue
        Las Vegas NV 89148

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

Chapter 11 Petition Date: May 24, 2023

Court: United States Bankruptcy Court
       District of Nevada

Case No.: 23-12086

Debtor's Counsel: David Mincin, Esq.
                  MINCIN LAW, PLLC
                  7465 W. Lake Mead Boulevard, #100
                  Las Vegas, NV 89128
                  Tel: 702-852-1957
                  Email: dmincin@mincinlaw.com

Total Assets: $0

Total Liabilities: $2,379,021

The petition was signed by Heath Wills as manager.

The Debtor lists Dustin Industries Corporation as its sole
unsecured creditor holding a claim of $368,413.

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

https://www.pacermonitor.com/view/YKWKHVQ/SCHON_ELISE_LLC__nvbke-23-12086__0001.0.pdf?mcid=tGE4TAMA


SELBYSOFT INC: Case Summary & Four Unsecured Creditors
------------------------------------------------------
Debtor: SelbySoft, Inc.
        13605 122nd Ave E
        Puyallup, WA 98374

Business Description: SelbySoft has been designing cutting edge
                      Point of Sale systems for the cafe, coffee &

                      pizza industries.

Chapter 11 Petition Date: May 25, 2023

Court: United States Bankruptcy Court
       Western District of Washington

Case No.: 23-40830

Debtor's Counsel: David C. Smith, Esq.
                  LAW OFFICES OF DAVID SMITH, PLLC
                  201 Saint Helens Ave
                  Tacoma, WA 98402
                  Tel: 253-272-4777
                  Fax: 253-461-8888
                  Email: david@davidsmithlaw.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Kevin Scott as president.

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

https://www.pacermonitor.com/view/M2DZWRY/SelbySoft_Inc__wawbke-23-40830__0001.0.pdf?mcid=tGE4TAMA


SEMRAD LAW: Gets OK to Hire 'Ordinary Course' Professionals
-----------------------------------------------------------
The Semrad Law Firm, LLC received approval from the U.S. Bankruptcy
Court for the District of Delaware to hire certain professionals
utilized in the ordinary course of business.

The "ordinary course" professionals include:

     1. PBG Financial Services, PLLC
        -- Accounting services

     2. Samuel J. Manella P.C.
        -- Ethics counsel

The OCPs will provide services in matters unrelated to the
prosecution of the Debtor's Chapter 11 case.

The Debtor will pay each OCP, without further fee application to
the court, up to $9,000 per month over a rolling three-month
period.

                     About The Semrad Law Firm

The Semrad Law Firm, LLC is a bankruptcy law firm offering legal
relief to families struggling with debt. The firm is based in
Chicago, Ill.

Semrad Law Firm filed a petition under Chapter 11, Subchapter V of
the Bankruptcy Code (Bankr. D. Del. Case No. 23-10512) on April 26,
2023, with $8,267,344 in assets and $7,809,414 in liabilities.
William Homony, Esq., a partner at Miller Coffey Tate, LLP, has
been appointed as Subchapter V trustee

Judge John T. Dorsey oversees the case.

The Debtor tapped Joseph C. Barsalona II, Esq., at Pashman Stein
Walder Hayden, P.C. as bankruptcy counsel; and Novo Advisors LLC as
financial advisor.


SEMRAD LAW: Gets OK to Hire Novo as Financial Advisor
-----------------------------------------------------
The Semrad Law Firm, LLC received approval from the U.S. Bankruptcy
Court for the District of Delaware to hire Novo Advisors, LLC as
its financial advisor.

The firm's services include:

     (a) preparing the initial 13-week cash flow forecast and
subsequent budget versus actual which will be updated periodically
during the Debtor's Chapter 11 case;

     (b) reviewing and assessing the Debtor's accounts receivable,
accounts payable and other assets;

     (c) assisting in identifying opportunities to improve the
Debtor's revenue stream and profitability;

     (d) assisting as necessary with collecting any remaining
"employee retention credit;"

     (e) performing an overall assessment of the Debtor's business
plan;

     (f) reviewing and providing feedback on liquidity management
on a day-to-day basis as needed;

     (g) working with management to coordinate liquidity support as
requested;

     (h) reviewing and providing feedback on other restructuring
and performance improvement initiatives as they are identified and
implemented;

     (i) providing refinancing support and support as needed; and

     (j) addressing any other items upon request of the Debtor or
its counsel.

The firm's hourly rates range between $300 and $850. In addition,
the firm will seek reimbursement for expenses incurred.

Novo Advisors received a retainer in the amount of $10,000.

Thomas Caulfield, principal at Novo Advisors, disclosed in a court
filing that his firm is a "disinterested person" pursuant to
Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Thomas Caulfield
     Novo Advisors, LLC
     401 N. Franklin St., Suite 4 East
     Chicago, IL 60654
     Telephone: (312) 402-2982
     Email: TCaulfield@novo-advisors.com

                     About The Semrad Law Firm

The Semrad Law Firm, LLC is a bankruptcy law firm offering legal
relief to families struggling with debt. The firm is based in
Chicago, Ill.

Semrad Law Firm filed a petition under Chapter 11, Subchapter V of
the Bankruptcy Code (Bankr. D. Del. Case No. 23-10512) on April 26,
2023, with $8,267,344 in assets and $7,809,414 in liabilities.
William Homony, Esq., a partner at Miller Coffey Tate, LLP, has
been appointed as Subchapter V trustee

Judge John T. Dorsey oversees the case.

The Debtor tapped Joseph C. Barsalona II, Esq., at Pashman Stein
Walder Hayden, P.C. as bankruptcy counsel; and Novo Advisors LLC as
financial advisor.


SEMRAD LAW: Gets OK to Hire Pashman Stein Walder Hayden as Counsel
------------------------------------------------------------------
The Semrad Law Firm, LLC received approval from the U.S. Bankruptcy
Court for the District of Delaware to hire Pashman Stein Walder
Hayden, P.C. as its bankruptcy counsel.

The Debtor requires legal counsel to:

     a. give advice in the areas of restructuring and bankruptcy;

     b. take all necessary actions to protect and preserve the
Debtor's estate during this Chapter 11 case, including the
prosecution of actions by the Debtor, the defense of any actions
commenced against the Debtor, negotiations concerning litigation in
which the Debtor is involved, and objecting to claims filed against
the estate;

     c. prepare legal papers;

     d. counsel the Debtor with regard to its rights and
obligations;

     e. coordinate with other professionals in representing the
Debtor in connection with its Chapter 11 case; and

     f. perform all other necessary legal services.

The firm will charge these hourly fees:

     Partners            $560 - $903
     Of Counsel          $485 - $650
     Counsel             $533 - $808
     Special Counsel     $713 - $713
     Associates          $380 - $523
     Law Clerk           $355 - $355
     Paraprofessionals   $355

Pashman received a retainer of $45,000.

As disclosed in court filings, Pashman is a "disinterested person"
pursuant to Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Joseph C. Barsalona II, Esq.
     Pashman Stein Walder Hayden, P.C.
     1007 North Orange Street, 4th Floor, Suite 183
     Wilmington, DE 19801-1242
     Telephone: (302) 592-6496
     Email: jbarsalona@pashmanstein.com

                     About The Semrad Law Firm

The Semrad Law Firm, LLC is a bankruptcy law firm offering legal
relief to families struggling with debt. The firm is based in
Chicago, Ill.

Semrad Law Firm filed a petition under Chapter 11, Subchapter V of
the Bankruptcy Code (Bankr. D. Del. Case No. 23-10512) on April 26,
2023, with $8,267,344 in assets and $7,809,414 in liabilities.
William Homony, Esq., a partner at Miller Coffey Tate, LLP, has
been appointed as Subchapter V trustee

Judge John T. Dorsey oversees the case.

The Debtor tapped Joseph C. Barsalona II, Esq., at Pashman Stein
Walder Hayden, P.C. as bankruptcy counsel; and Novo Advisors LLC as
financial advisor.


SRPC PROPERTIES: Case Summary & One Unsecured Creditor
------------------------------------------------------
Debtor: SRPC Properties, LLC
        9614 Kentucky Street
        Cheyenne, WY 82009

Business Description: SRPC owns four properties located in
                      Colorado and Texas having a current value of

                      $2.56 million in the aggregate.

Chapter 11 Petition Date: May 25, 2023

Court: United States Bankruptcy Court
       District of Wyoming

Case No.: 23-20180

Debtor's Counsel: Bradley T. Hunsicker, Esq.
                  MARKUS WILLIAMS YOUNG & HUNSICKER
                  2120 Carey Avenue, Suite 101
                  Cheyenne, WY 82001
                  Tel: (307) 778-8178
                  Fax: (307) 778 8953
                  Email: bhunsicker@markuswilliams.com

Total Assets: $2,694,635

Total Liabilities: $1,725,437

The petition was signed by Shirley Carson as member.

The Debtor listed Bankers Healthcare Group, LLC as its sole
unsecured creditor holding a claim of $120,859.

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

https://www.pacermonitor.com/view/3W7HUWQ/SRPC_Properties_LLC__wybke-23-20180__0001.0.pdf?mcid=tGE4TAMA


STRUCTURAL TECHNOLOGY: Gets OK to Hire Jennings as Special Counsel
------------------------------------------------------------------
Structural Technology Custom Homes, LLC received approval from the
U.S. Bankruptcy Court for the District of Arizona to employ
Jennings Haug Keleher McLeod as its special counsel.

The Debtor requires legal assistance in connection with the lawsuit
it filed against Randy and Ann Marie Ross and their counterclaims
against the Debtor with the Maricopa County Superior Court.

The firm will charge $350 per hour for its services.

Jennings Haug Keleher McLeod does not represent any interest
adverse to the Debtor or its estate, according to court filings.

The firm can be reached through:

     Joseph A. Brophy, Esq.
     Jennings Haug Keleher McLeod
     2800 North Central Ave. Suite 1800
     Phoenix, AZ 85004
     Phone: 602-234-7849
     Email: jab@jhkmlaw.com

              About Structural Technology Custom Homes

Structural Technology Custom Homes, LLC is a home repair company
serving Mesa, Ariz., and the surrounding areas.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Ariz. Case No. 23-00080) on Jan. 6,
2023. In the petition signed by its manager, Joseph Rubanow, the
Debtor disclosed up to $10 million in both assets and liabilities.

Judge Brenda K. Martin oversees the case.

D. Lamar Hawkins, Esq., at Guidant Law, PLC and David J. Hawks,
CPA, PLLC are the Debtor's legal counsel and accountant,
respectively.


STRUCTURLAM MASS: Gets OK to Hire Chipman Brown Cicero as Counsel
-----------------------------------------------------------------
Structurlam Mass Timber U.S., Inc. and its affiliates received
approval from the U.S. Bankruptcy Court for the District of
Delaware to hire Chipman Brown Cicero & Cole, LLP as their
bankruptcy counsel.

The firm's services include:

     (a) providing legal advice with respect to the Debtors' powers
and duties in the continued operation of their businesses and
management of their properties;

     (b) negotiating, drafting, and pursuing all documentation
necessary in these Chapter 11 cases;

     (c) preparing legal papers;

     (d) appearing in court;

     (e) assisting with any disposition of the Debtors' assets by
sale or otherwise;

     (f) negotiating and taking actions in connection with a plan
of reorganization and all documents thereunder and transactions
related to the plan;

     (g) attending all meetings and negotiating with
representatives of creditors, the United States Trustee, and other
parties involved in the case;

     (h) providing legal advice regarding bankruptcy law, corporate
law, corporate governance, transactional, litigation and other
issues to the Debtors in connection with the Debtors' ongoing
business operations; and

     (i) performing all other legal services.

The firm will charge these hourly fees:

     William E. Chipman, Jr.     $775
     Robert A. Weber             $725
     Mark L. Desgrosseilliers    $725
     Mark D. Olivere             $525
     Edwin Leon                  $300
     Renae M. Fusco              $275

     Partners             $525 to $775
     Associates           $300 to $375
     Paralegals           $275

Consistent with Appendix B-Guidelines for reviewing fee
applications filed by attorneys in larger Chapter 11 cases, Chipman
disclosed the following information:

     (a) Chipman did not agree to any variations from, or
alternatives to, its standard or customary billing arrangements for
this engagement.

     (b) None of Chipman's professionals included in this
engagement have varied their rate based on the geographic location
for these Chapter 11 cases.

     (c) Chipman did not represent the Debtors prior to the
petition date.

     (d) Chipman, in conjunction with the Debtors' advisors, is
working with its client on developing an estimated budget and
staffing plan for approximately the first eight weeks of these
proceedings.

As disclosed in court filings, Chipman is a "disinterested person"
pursuant to Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Robert A. Weber, Esq.
     Chipman Brown Cicero & Cole, LLP
     1313 N. Market Street, Suite 5400
     Wilmington, DE 19801
     Tel: 302-414-8906

            About Structurlam Mass Timber Corporation

Structurlam Mass Timber U.S., Inc. -- http://structurlam.com/-- is
a North American provider of mass timber solutions for construction
and industrial markets in Canada and the U.S. Established in 1962,
Structurlam is based in Penticton, British Columbia and has mass
timber production facilities in Canada and the U.S.

After reaching a deal with Mercer International Inc. to sell its
assets in British Columbia and Arkansas for US$60 million,
Structurlam and certain of its affiliates sought Chapter 11
protection (Bankr. D. Del. Lead Case No. 23-10497) on April 21,
2023.

The Debtors have sought recognition of the Chapter 11 proceedings
in the Supreme Court of British Columbia.

Structurlam Mass Timber estimated assets and debt of $100 million
to $500 million as of the bankruptcy filing.

The Debtors tapped Chipman Brown Cicero & Cole, LLP as bankruptcy
counsel; Potter Anderson Corroon, LLP as local counsel; Paul
Hastings, LLP as special counsel; Gowling WLG as Canadian counsel;
Alvarez & Marsal Canada, Inc. as financial advisor; and Stifel,
Nicolaus & Company, Incorporated and Miller Buckfire & Co., LLC as
investment bankers. Kurtzman Carson Consultants, LLC is the claims
and noticing agent and administrative advisor.

The U.S. Trustee for Regions 3 and 9 appointed an official
committee of unsecured creditors in the Debtors' Chapter 11 cases.
The committee is represented by Morris, Nichols, Arsht & Tunnell,
LLP.


STRUCTURLAM MASS: Gets OK to Hire Gowling WLG as Canadian Counsel
-----------------------------------------------------------------
Structurlam Mass Timber U.S., Inc. and its affiliates received
approval from the U.S. Bankruptcy Court for the District of
Delaware to hire Gowling WLG (Canada) LLP as their special Canadian
counsel.

The firm's services include:

     a. advising the Debtors with respect to their rights and
duties under Canadian law;

     b. commencing and continuing on the Debtors' behalf the
ancillary proceeding under the Companies' Creditors Arrangement
Act;

     c. preparing legal documents;

     d. advising the Debtors with respect to issues of Canadian law
arising during the course of the operation of their business;

     e. advising the Debtors in connection with the sale of their
assets; and
  
     f. other necessary legal services.

Gowling's current hourly rates are as follows:

     Partners     $431 - $938
     Associates   $244 - $450
     Paralegals   $68 - $285

As disclosed in court filings, Gowling is a "disinterested person"
pursuant to Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Jonathan B. Ross, Esq.
     Gowling WLG (Canada), LLP
     550 Burrard Street, Suite 2300
     Bentall 5
     Vancouver, British Columbia
     V6C 2B5, Canada
     Phone: +1 604-891-2778
     Fax: +1 604-683-3558
     Email: jonathan.ross@gowlingwlg.com

            About Structurlam Mass Timber Corporation

Structurlam Mass Timber U.S., Inc. -- http://structurlam.com/-- is
a North American provider of mass timber solutions for construction
and industrial markets in Canada and the U.S. Established in 1962,
Structurlam is based in Penticton, British Columbia and has mass
timber production facilities in Canada and the U.S.

After reaching a deal with Mercer International Inc. to sell its
assets in British Columbia and Arkansas for US$60 million,
Structurlam and certain of its affiliates sought Chapter 11
protection (Bankr. D. Del. Lead Case No. 23-10497) on April 21,
2023.

The Debtors have sought recognition of the Chapter 11 proceedings
in the Supreme Court of British Columbia.

Structurlam Mass Timber estimated assets and debt of $100 million
to $500 million as of the bankruptcy filing.

The Debtors tapped Chipman Brown Cicero & Cole, LLP as bankruptcy
counsel; Potter Anderson Corroon, LLP as local counsel; Paul
Hastings, LLP as special counsel; Gowling WLG as Canadian counsel;
Alvarez & Marsal Canada, Inc. as financial advisor; and Stifel,
Nicolaus & Company, Incorporated and Miller Buckfire & Co., LLC as
investment bankers. Kurtzman Carson Consultants, LLC is the claims
and noticing agent and administrative advisor.

The U.S. Trustee for Regions 3 and 9 appointed an official
committee of unsecured creditors in the Debtors' Chapter 11 cases.
The committee is represented by Morris, Nichols, Arsht & Tunnell,
LLP.


STRUCTURLAM MASS: Gets OK to Tap Kurtzman as Administrative Advisor
-------------------------------------------------------------------
Structurlam Mass Timber U.S., Inc. and its affiliates received
approval from the U.S. Bankruptcy Court for the District of
Delaware to hire Kurtzman Carson Consultants, LLC as their
administrative advisor.

The firm's services include:

     (a) assisting with, among other things, the preparation of the
Debtors' schedules of assets and liabilities, schedules of
executory contracts and unexpired leases and statements of
financial affairs;

     (b) assisting with, among other things, solicitation,
balloting, tabulation and calculation of votes, as well as
preparing any appropriate reports required in furtherance of
confirmation of any Chapter 11 plan;

     (c) generating an official ballot certification and
testifying, if necessary, in support of the ballot tabulation
results for any Chapter 11 plan; and

     (d) generating and assisting with claims objections, exhibits,
claims reconciliation and related matters.

The Debtors provided Kurtzman a retainer in the amount of $15,000.

As disclosed in court filings, Kurtzman is a "disinterested person"
pursuant to Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Robert Jordan
     Kurtzman Carson Consultants LLC
     222 N. Pacific Coast Highway, 3rd Floor
     El Segundo, CA 90245
     Telephone: (310) 823-9000

            About Structurlam Mass Timber Corporation

Structurlam Mass Timber U.S., Inc. -- http://structurlam.com/-- is
a North American provider of mass timber solutions for construction
and industrial markets in Canada and the U.S. Established in 1962,
Structurlam is based in Penticton, British Columbia and has mass
timber production facilities in Canada and the U.S.

After reaching a deal with Mercer International Inc. to sell its
assets in British Columbia and Arkansas for US$60 million,
Structurlam and certain of its affiliates sought Chapter 11
protection (Bankr. D. Del. Lead Case No. 23-10497) on April 21,
2023.

The Debtors have sought recognition of the Chapter 11 proceedings
in the Supreme Court of British Columbia.

Structurlam Mass Timber estimated assets and debt of $100 million
to $500 million as of the bankruptcy filing.

The Debtors tapped Chipman Brown Cicero & Cole, LLP as bankruptcy
counsel; Potter Anderson Corroon, LLP as local counsel; Paul
Hastings, LLP as special counsel; Gowling WLG as Canadian counsel;
Alvarez & Marsal Canada, Inc. as financial advisor; and Stifel,
Nicolaus & Company, Incorporated and Miller Buckfire & Co., LLC as
investment bankers. Kurtzman Carson Consultants, LLC is the claims
and noticing agent and administrative advisor.

The U.S. Trustee for Regions 3 and 9 appointed an official
committee of unsecured creditors in the Debtors' Chapter 11 cases.
The committee is represented by Morris, Nichols, Arsht & Tunnell,
LLP.


STRUCTURLAM MASS: Taps Alvarez & Marsal as Financial Advisor
------------------------------------------------------------
Structurlam Mass Timber U.S., Inc. and its affiliates seek approval
from the U.S. Bankruptcy Court for the District of Delaware to hire
Alvarez & Marsal Canada ULC to serve as financial advisor.

The firm's services include:

     (a) assistance to the Debtors in the preparation of monthly
operating reports;

     (b) assistance to the Debtors with information and analyses
required pursuant to the debtor-in-possession financing;

     (c) assistance in the identification and implementation of
short-term cash management procedures;

     (d) advisory assistance in connection with the development and
implementation of key employee compensation and other critical
employee benefit programs;

     (e) assistance in the identification of executory contracts
and leases and performance of cost/benefit evaluations with respect
to the affirmation or rejection of each;

     (f) assistance to the Debtors' management team and counsel
focused on the coordination of resources related to the ongoing
reorganization effort;

     (g) assistance in the preparation of financial information for
distribution to creditors and others, including, but not limited
to, cash flow projections and budgets, cash receipts and
disbursement analysis, analysis of various asset and liability
accounts, and analysis of proposed transactions for which court
approval is sought;

     (h) attendance at meetings and assistance in discussions with
potential investors, banks, and other secured lenders, any official
committees appointed in these Chapter 11 cases, the United States
Trustee, and other parties involved in the cases;

     (i) analysis of creditor claims by type, entity and individual
claim;

     (j) assistance in the preparation of information and analysis
necessary for the confirmation of a plan of reorganization;

     (k) assistance in the evaluation and analysis of avoidance
actions, including fraudulent conveyances and preferential
transfers;

     (l) assistance in the analysis and preparation of information
necessary to assess the tax attributes related to the confirmation
of a plan of reorganization, including the development of the
related tax consequences contained in the disclosure statement;

     (m) provision of litigation advisory services with respect to
accounting and tax matters, along with expert witness testimony on
case related issues as required by the Debtors; and
     
     (n) other general business consulting services.

The firm will be paid at these rates:

   Canadian restructuring professionals

     Managing Director     CAD $795 - CAD $875 per hour
     Director              CAD $500 - CAD $775 per hour
     Associate/Analyst     CAD $300 - CAD $495 per hour

   U.S. restructuring professionals

     Managing Directors    USD $1,025 - USD $1,375 per hour
     Directors             USD $775 - USD $975 per hour
     Associates/Analysts   USD $425 - USD $775 per hour

Anthony Tillman, managing director at Alvarez & Marsal North
America, disclosed in court filings that his firm is a
"disinterested person" pursuant to Section 101(14) of the
Bankruptcy Code.

The firm can be reached through:

     Anthony Tillman
     Alvarez & Marsal Canada ULC
     925 W. Georgia Street,Unit 902
     Vancouver  BC  V6C 3L2
     Canada
     Telephone: +1 604 639 0849
     Email: atillman@alvarezandmarsal.com

            About Structurlam Mass Timber Corporation

Structurlam Mass Timber U.S., Inc. -- http://structurlam.com/-- is
a North American provider of mass timber solutions for construction
and industrial markets in Canada and the U.S. Established in 1962,
Structurlam is based in Penticton, British Columbia and has mass
timber production facilities in Canada and the U.S.

After reaching a deal with Mercer International Inc. to sell its
assets in British Columbia and Arkansas for US$60 million,
Structurlam and certain of its affiliates sought Chapter 11
protection (Bankr. D. Del. Lead Case No. 23-10497) on April 21,
2023.

The Debtors have sought recognition of the Chapter 11 proceedings
in the Supreme Court of British Columbia.

Structurlam Mass Timber estimated assets and debt of $100 million
to $500 million as of the bankruptcy filing.

The Debtors tapped Chipman Brown Cicero & Cole, LLP as bankruptcy
counsel; Potter Anderson Corroon, LLP as local counsel; Paul
Hastings, LLP as special counsel; Gowling WLG as Canadian counsel;
Alvarez & Marsal Canada, Inc. as financial advisor; and Stifel,
Nicolaus & Company, Incorporated and Miller Buckfire & Co., LLC as
investment bankers. Kurtzman Carson Consultants, LLC is the claims
and noticing agent and administrative advisor.

The U.S. Trustee for Regions 3 and 9 appointed an official
committee of unsecured creditors in the Debtors' Chapter 11 cases.
The committee is represented by Morris, Nichols, Arsht & Tunnell,
LLP.


STRUCTURLAM MASS: Taps Miller Buckfire & Co. as Investment Banker
-----------------------------------------------------------------
Structurlam Mass Timber U.S., Inc. and its affiliates received
approval from the U.S. Bankruptcy Court for the District of
Delaware to hire Miller Buckfire & Co., LLC and its affiliate,
Stifel, Nicolaus & Co., Inc., as their investment banker.

The firms' services include:

     a. General Services. Advise and assist the Debtors in
structuring and effecting the financial aspects of their
restructuring, sale or financing transactions.

     b. Sale Services. If the Debtors pursue a sale, assist with
the transaction, identify and contact potential acquirers,
participate or otherwise assist in negotiations with acquirers, and
prepare and develop a sale memorandum.

     c. Financing Services. If the Debtors pursue a financing,
assist in structuring and effecting a financing, identify and
contact potential investors, participate or otherwise assist in
negotiations with investors, and consider the advisability of a
financing offering memorandum, and, if advisable, prepare and
develop the financing offering memorandum.

     d. Restructuring Services. If the Debtors pursue a
restructuring, assist in developing and seeking approval of a
Chapter 11 plan, assist in structuring any new securities to be
issued under the plan, participate or otherwise assist in
negotiations with entities or groups affected by the plan, and
participate in hearings before the bankruptcy court in connection
with Miller's other services, including related testimony.

The firm will receive compensation as follows:

     a. Monthly fee of $75,000.

     b. Sale fee of $1.5 million for the first $60 million of
aggregate consideration, plus 3 percent of aggregate consideration
in excess of $60 million. For clarity, this fee applies across all
sales, such that the $1.5 million minimum may not be due more than
once.

     c. Financing Fee. Upon first funding of a financing:

       (1) 1 percent of the gross proceeds of any
debtor-in-possession financing (including if convertible to exit
financing) or first-lien secured indebtedness financing; plus

       (2) 3 percent of the gross proceeds of any other
indebtedness financing; plus

       (3) 5 percent of the gross proceeds of any other financing,
including equity and equity-linked securities and other
obligations.

       Exception: Financing from a lender or equity holder existing
as such on Feb. 10, 2023, or from an affiliate of such, results in
no financing fee unless Miller has provided related services, in
which case the related financing fee is reduced by half.

     d. Upon a restructuring, $1.5 million.

     e. Alternative fee of $1 million after an agreement among the
Debtors' stakeholders, which must include Walmart Inc. and Bank of
Montreal, that does not give rise to a restructuring, financing or
sale.

     f. Credits. Monthly fees actually paid reduce the amount of an
alternative fee or the amount, if any, by which a sale fee exceeds
$1.5 million.

     g. Expense reimbursement.

Kevin Haggard, managing director at Miller, disclosed in a court
filing that his firm is a "disinterested person" pursuant to
Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Kevin Haggard
     Miller Buckfire & Co., LLC
     787 Seventh Avenue
     New York, NY 10019
     Tel: (212) 895-1883
     Email: kevin.haggard@millerbuckfire.com

            About Structurlam Mass Timber Corporation

Structurlam Mass Timber U.S., Inc. -- http://structurlam.com/-- is
a North American provider of mass timber solutions for construction
and industrial markets in Canada and the U.S. Established in 1962,
Structurlam is based in Penticton, British Columbia and has mass
timber production facilities in Canada and the U.S.

After reaching a deal with Mercer International Inc. to sell its
assets in British Columbia and Arkansas for US$60 million,
Structurlam and certain of its affiliates sought Chapter 11
protection (Bankr. D. Del. Lead Case No. 23-10497) on April 21,
2023.

The Debtors have sought recognition of the Chapter 11 proceedings
in the Supreme Court of British Columbia.

Structurlam Mass Timber estimated assets and debt of $100 million
to $500 million as of the bankruptcy filing.

The Debtors tapped Chipman Brown Cicero & Cole, LLP as bankruptcy
counsel; Potter Anderson Corroon, LLP as local counsel; Paul
Hastings, LLP as special counsel; Gowling WLG as Canadian counsel;
Alvarez & Marsal Canada, Inc. as financial advisor; and Stifel,
Nicolaus & Company, Incorporated and Miller Buckfire & Co., LLC as
investment bankers. Kurtzman Carson Consultants, LLC is the claims
and noticing agent and administrative advisor.

The U.S. Trustee for Regions 3 and 9 appointed an official
committee of unsecured creditors in the Debtors' Chapter 11 cases.
The committee is represented by Morris, Nichols, Arsht & Tunnell,
LLP.


SYMBIONT.IO INC: LM Funding Announces $2.6M "Stalking Horse" Bid
----------------------------------------------------------------
LM Funding America, Inc. (NASDAQ: LMFA), a cryptocurrency mining
and technology-based specialty finance company, on May 23 announced
its $2.6 million "stalking horse" bid to purchase the assets of
Symbiont.io, Inc. ("Symbiont"), which is currently in Chapter 11
bankruptcy proceedings, is unopposed and expected to be approved by
the bankruptcy court, and an auction that could include other bids
is anticipated to take place on May 26, 2023. LM Funding is
currently the sole secured creditor for Symbiont as a result of a
$2 million secured loan it made to Symbiont in December 2021.

Bruce M. Rodgers, Chairman, and CEO of LM Funding commented, "We
are making a stalking horse bid to purchase the assets of Symbiont,
including those related to its Assembly(TM) financial services
blockchain enterprise platform. If we successfully acquire the
assets, we intend to pursue joint ventures and/or other strategic
relationships to offer Assembly to institutions to issue, track and
manage financial instruments, such as data, loans, and securities.
We also plan to investigate and consider other use cases for the
Symbiont assets and Assembly platform."

Symbiont filed for Chapter 11 bankruptcy protection on Dec. 1,
2022. The New York-based company said its assets and liabilities
both ranged between $1 million and $10 million, according to a
filing with the U.S. Bankruptcy Court for the Southern District of
New York. LM Funding is listed as a secured creditor and is owed $2
million plus interest and expenses.

Symbiont was formed in 2013 to help financial institutions leverage
the Bitcoin blockchain to reduce risk, save costs, and increase
efficiencies. Symbiont reported partnerships with large
institutions, including index-fund giant Vanguard and State Street,
who used Symbiont's platform for a foreign exchange forward
contract. SWIFT, which helps banks move money across borders, has
said it was using Symbiont's technology.

Stated Rodgers, "We hope to acquire Symbiont's assets and build
organizations around those assets to grow value for our
shareholders."

                     About LM Funding America

LM Funding America, Inc., (Nasdaq: LMFA) together with its
subsidiaries, is a cryptocurrency mining business that commenced
Bitcoin mining operations in September 2022. The Company also
operates a technology-based specialty finance company that provides
funding to nonprofit community associations (Associations) located
in the state of Florida by funding a certain portion of the
Associations' rights to delinquent accounts that are selected by
the Associations arising from unpaid Association assessments.

                      About Symbiont.IO LLC

Symbiont.IO LLC is a technology company focused on solving complex
global finance problems using a novel enterprise blockchain
solution.

Symbiont.IO LLC filed a petition for relief under Chapter 11 of the
Bankruptcy Code (Bank. S.D.N.Y. Case No. 22-11620) on Dec. 1, 2022.
In the petition filed by Mark Smith, as CEO, the Debtor reported
assets and liabilities between $1 million and $10 million.

The case is overseen by Honorable Bankruptcy Judge Philip Bentley.

The Debtor is represented by Lawrence Morrison, Esq., at Morrison
Tenenbaum PLLC, as counsel.


TACONY ACADEMY: S&P Assigns 'BB+' Rating on 2023 Revenue Bonds
--------------------------------------------------------------
S&P Global Ratings assigned its 'BB+' long-term rating to
Philadelphia Authority for Industrial Development, Pa.'s $31.57
million series 2023 charter school revenue bonds, to be issued for
Tacony Academy Charter School on behalf of Frankford Valley
Foundation for Literacy II. At the same time, S&P Global Ratings
affirmed its 'BB+' long-term rating on the authority's series 2014
and 2013A revenue bonds, issued for the school, though S&P notes
upon the issuance of the series 2023 bonds, these issues will be
fully refunded. The outlook is stable.

"We assessed Tacony's enterprise profile as adequate, characterized
by the school's steady enrollment, excellent waiting list, and
solid retention rates," said S&P Global Ratings credit analyst
Philip Pena.

Tacony received a five-year charter renewal in 2022, though the
charter agreement remains unsigned. While this is a risk in S&P's
view, charter school law in the commonwealth allows charter schools
to operate with unsigned charters. In addition, both the school and
the authorizer, School District of Philadelphia, report that they
are working to reach a resolution on certain conditions of the
agreement that relate to conflicts of interest.

"We assessed Tacony's financial profile as vulnerable,
characterized by negative operating performance in fiscal 2022 and
high pro forma debt-per-student ratios, offset by a moderating pro
forma maximum annual debt burden and a still good, though
declining, liquidity position," Mr. Pena added.

S&P said, "We believe, combined, these credit factors lead to an
anchor of 'bb'. As our criteria indicate, we can adjust the final
rating one notch from the anchor due to a variety of overriding
factors. In our opinion, the 'BB+' rating better reflects our view
of Tacony's steady demand and robust waitlists, which ensure the
school's enrollment will remain at charter capacity.

"The stable outlook reflects our view that over the outlook period,
the school will maintain steady enrollment, healthy demand, and
sufficient maximum annual debt service (MADS) coverage and
liquidity for the rating level. The outlook also reflects our view
that the academy will remain in good standing with its authorizer.

"We could lower the rating if the charter agreement is not resolved
and nonresolution materially affects the school's authorization
status, demand, or finances. Also, we could lower the rating if
enrollment declines significantly, operations produce a trend of
deficits, MADS coverage weakens, or cash on hand continues to
materially decline.

"We could raise the rating if the academy demonstrates continued
improvement in operations and MADS coverage absent stimulus funds,
while maintaining stable enrollment and liquidity. We would also
expect favorable resolution of its charter agreement with its
authorizer. We would also view a significant moderation in its debt
burden over time favorably."



TIMBER PHARMACEUTICALS: Posts $4.1 Million Net Loss in 1st Quarter
------------------------------------------------------------------
Timber Pharmaceuticals, Inc. filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing a net loss
and comprehensive loss of $4.06 million on $0 of grant revenue for
the three months ended March 31, 2023, compared to a net loss and
comprehensive loss of $3.07 million on $83,177 of grant revenue for
the three months ended March 31, 2022.

As of March 31, 2023, the Company had $6.27 million in total
assets, $4.96 million in total liabilities, and $1.31 million in
total stockholders' equity.

Timber said, "The Company has evaluated whether there are any
conditions and events, considered in the aggregate, that raise
substantial doubt about its ability to continue as a going concern
within one year beyond the filing of this Quarterly Report on Form
10-Q.  Based on such evaluation and the Company's current plans,
which are subject to change, management believes there is
substantial doubt about the Company's ability to continue as a
going concern.  The Company's existing cash and cash equivalents as
of March 31, 2023, were sufficient only to satisfy our operating
cash needs through the second quarter of 2023.  Thus, the Company's
current cash on hand at March 31, 2023, was potentially not
sufficient to satisfy our operating cash needs for the twelve
months from the filing of this Quarterly Report on Form 10-Q."

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/1504167/000143774923014562/tmbr20230331_10q.htm

                      About Timber Pharmaceuticals

Timber Pharmaceuticals, Inc. f/k/a BioPharmX Corporation --
http://www.timberpharma.com-- is a biopharmaceutical company
focused on the development and commercialization of treatments for
orphan dermatologic diseases.  The Company's investigational
therapies have proven mechanisms-of-action backed by decades of
clinical experience and well-established CMC (chemistry,
manufacturing and control) and safety profiles.  The Company is
initially focused on developing non-systemic treatments for rare
dermatologic diseases including congenital ichthyosis (CI), facial
angiofibromas (FAs) in tuberous sclerosis complex (TSC), and
localized scleroderma.

Timber reported a net loss and comprehensive loss of $19.38 million
for the year ended Dec. 31, 2022, compared to a net loss and
comprehensive loss of $10.64 million for the year ended Dec. 31,
2021.  As of Dec. 31, 2022, the Company had $10.27 million in total
assets, $5.04 million in total liabilities, and $5.23 million in
total stockholders' equity.

Short Hills, New Jersey-based KPMG LLP, the Company's auditor since
2019, issued a "going concern" qualification in its report dated
March 31, 2023, citing that the Company has suffered recurring
losses from operations that raise substantial doubt about its
ability to continue as a going concern.


TRICIDA INC: Court Orders Changes to Opt-Out for Shareholders
-------------------------------------------------------------
Leslie A. Pappas of Law360 reports that a Delaware bankruptcy judge
rejected Tricida Inc.'s Chapter 11 plan Friday, May 19, 2023, and
ordered the drug developer to remove language that would have
prevented shareholders from suing Tricida's creditors or other
third parties, finding the process Tricida used to inform the
shareholders about the plan was not fair and equitable.

"[C]onfirmation of further amended Chapter 11 plan of liquidation
for Tricida, Inc. ( 460 ) is DENIED as currently submitted; parties
to confer and submit revised documents (as discussed during
hearing) under certification of counsel", according to the minutes
of the May 19 hearing.

The Court on May 23, 2023, subsequently entered an order confirming
the Plan after the Debtor submitted the required changes.

According to Bloomberg News, Tricida Inc. won approval to liquidate
in bankruptcy after a judge required the chronic kidney disease
drug developer to revise provisions shielding third parties from
legal liability.  Under the modified plan, confirmed Tuesday, May
23, 2023, by Judge John T. Dorsey of the US Bankruptcy Court for
the District of Delaware, general unsecured creditors will receive
additional time to opt out of a liability release being provided to
drug manufacturer and supplier Patheon Austria GmbH & Co.
Shareholders, who are being wiped out by the wind-down plan, won't
be bound to release any potential claims against third parties.

                   U.S. Trustee's Objections

Andrew R. Vara, the United States Trustee for Region 3, had filed
objections to the Third Amended Chapter 11 Plan of Liquidation for
Tricida, Inc.

The U.S. Trustee pointed out that the Debtor, a public company, has
proposed a Plan whereby its shareholders are to receive no
distribution under the Plan, have no right to vote on the Plan, and
are deemed to reject the Plan.  Despite such treatment, the Debtor
seeks approval to deem all such public shareholders to have
consented to release their direct claims against non-debtor third
parties unless each such shareholder returns a form opting out of
such releases, and such form is received by the Debtor's claims
agent by the Release Opt-Out Deadline.

The U.S. Trustee said that the opt-out mechanism, which provides
for negative (rather than affirmative) consent, is especially
inappropriate as to the Debtor's shareholders because they will
receive no consideration whatsoever for the releases that will be
imposed on them. In addition, because much of the stock of the
Debtor is held in street name, the Debtor will not be sending
opt-out forms directly to most of the beneficial stockholders, but
instead will sending such forms to brokers. It will be the
obligation of such brokers, over whom the Debtor has no control, to
timely send the opt-out form to the beneficial shareholders. Thus,
there will be no assurance that each beneficial shareholder will
receive the opt-out form, let alone receive it in enough time to
execute it and return it to the broker, or that upon receipt, the
broker will timely communicate such opt-out to the Debtor's claims
agent.

The U.S. Trustee asserted that an opt-out mechanism for public
shareholders is also inappropriate here because there is a pending
shareholder lawsuit, styled as a class action, in which claims have
been asserted against several current and former officers and
directors, who are among the many recipients of the third party
releases. This situation is factually similar to that of Gillman v.
Continental Airlines (In re Continental Airlines), 203 F.3d 203 (3d
Cir. 2000), in which the Third Circuit held that the releases did
"not pass muster under even the most flexible test for the validity
of non-debtor releases."

                       About Tricida Inc.

Tricida Inc. -- https://www.tricida.com/ -- is a pharmaceutical
company working to turn the tide on metabolic acidosis and
progression of chronic kidney disease.  The company is based in
South San Francisco, Calif.

Tricida filed a petition for relief under Chapter 11 of the
Bankruptcy Code (Bankr. D. Del. Case No. 23-10024) on Jan. 12,
2023, It disclosed $93,879,000 in total assets against $229,977,000
in total debt as of Sept. 30, 2022.

The Debtor tapped Sidley Austin, LLP and Young Conaway Stargatt &
Taylor, LLP, as counsels; SerraConstellation Partners, LLC as
financial advisor; and Stifel, Nicolaus & Company, Inc., and Miller
Buckfire, LLC as investment bankers. Kurtzman Carson Consultants,
LLC is the claims agent and administrative advisor.

The U.S. Trustee for Region 3 appointed an official committee to
represent unsecured creditors in the Debtor's Chapter 11 case.
Womble Bond Dickinson (US) LLP and Rock Creek Advisors, LLC serve
as the committee's legal counsel and financial advisor,
respectively.


TRICIDA INC: Liquidating Plan Confirmed After Global Settlement
---------------------------------------------------------------
Tricida, Inc. won an order confirming its Plan of Liquidation.

The Debtor executed a Restructuring Support Agreement with certain
holders of the 3.50% convertible senior notes due 2027, who
collectively hold at least two-thirds of the aggregate amount of
such Convertible Notes, which provided that the Debtor would meet
certain budgetary and timing milestones in a subsequent bankruptcy,
among other things, in exchange for the Consenting Noteholder's
support of the Debtor's proposed plan of liquidation.

The Debtors conducted, commencing on Feb. 15, 2023 and concluding
on Feb. 20, 2023, an auction in furtherance of a sale of
substantially all of the Debtor's assets, pursuant to the Plan, to
two purchasers.  The Debtors obtained on Feb. 22, 2023, orders
approving the Sale of the Debtor's assets to each of the
purchasers.

The Debtors conducted, on March 15, 2023, May 1, 2023, and May 3,
2023, various rounds of mediation by and between the Debtor, the
Consenting Noteholders, the Official Committee of Unsecured
Creditors, and Patheon Austria GmbH & Co KG to address the
Committee’s objections to the Disclosure Statement and Plan.

The Debtors obtained, on March 27, 2023, an order approving the
adequacy of the Disclosure Statement and authorizing solicitation
of the Plan.

The Debtors conducted, on April 24, 2023, mediation by and between
the Debtor, the Consenting Noteholders, the Committee, and Patheon
regarding the allowance and amount of the Patheon Rejection Claim.

The Debtors filed, on May 12, 2023, the Fourth Amended Chapter 11
Plan of Liquidation of Tricida, Inc., which reflected certain
changes to incorporate the settlement reached with the Committee at
meditation and the settlement reached with Patheon set forth in the
9019 Motion. A copy of the Plan dated May 12, 2023, is available at
https://bit.ly/3MvXQqj from www.kccllc.net, the claims agent.

Through these negotiations and mediation sessions, the Debtor and
the parties ultimately agreed to a settlement and compromise of
certain claims, causes of action, and issues, which is reflected in
revisions to the Plan. The Global Settlement is a critical
component to the Debtor achieving a clear path to confirmation of
the Plan.

Following a confirmation hearing held on May 19, 2023, the Court
confirmed the Plan.

                        About Tricida Inc.

Tricida Inc. -- https://www.tricida.com/ -- is a pharmaceutical
company working to turn the tide on metabolic acidosis and
progression of chronic kidney disease.  The company is based in
South San Francisco, Calif.

Tricida filed a petition for relief under Chapter 11 of the
Bankruptcy Code (Bankr. D. Del. Case No. 23-10024) on Jan. 12,
2023, It disclosed $93,879,000 in total assets against $229,977,000
in total debt as of Sept. 30, 2022.

The Debtor tapped Sidley Austin, LLP and Young Conaway Stargatt &
Taylor, LLP, as counsels; SerraConstellation Partners, LLC as
financial advisor; and Stifel, Nicolaus & Company, Inc., and Miller
Buckfire, LLC as investment bankers. Kurtzman Carson Consultants,
LLC is the claims agent and administrative advisor.

The U.S. Trustee for Region 3 appointed an official committee to
represent unsecured creditors in the Debtor's Chapter 11 case.
Womble Bond Dickinson (US) LLP and Rock Creek Advisors, LLC serve
as the committee's legal counsel and financial advisor,
respectively.


TRICIDA INC: Patheon to Have $85-Mil. Unsecured Claim
-----------------------------------------------------
Tricida, Inc., reached a Settlement Agreement and General Release
of Claims with Patheon Austria GmbH & Co. KG.

On Oct. 4, 2019, Patheon entered into a Manufacturing and
Commercial Supply Agreement (as amended, the "CSA") with the
Debtor.  Pursuant to the CSA, Patheon agreed to manufacture a
supply of veverimer sufficient to support Tricida’s plans for
commercialization.

On Dec. 7, 2022, after providing notice of an alleged breach under
the CSA to Tricida, Patheon issued a "Notice of Termination"
purporting to terminate the CSA in connection with, among other
things, the alleged breach.  Tricida vehemently disputed Patheon's
characterization of circumstances it relied upon in connection with
its termination of the CSA, including, but not limited to, the
contention that Patheon's purported termination of the agreement
was not in compliance with the CSA and was therefore ineffective.

On Feb. 6, 2023, the Court entered an order rejecting the CSA
pursuant to Section 365 of the Bankruptcy Code as of January 19,
2023.

On March 6, 2022, Patheon filed proof of claim no. 122.  On March
8, 2023, Patheon filed substantively identical proofs of claim
(nos. 141 and 143) in this chapter 11 case each in the amount of
$136,206,149.  The Claim amended and superseded proof of claim no.
122. The Claim asserts damages in connection with the purported
termination of the CSA.

Over the course of this chapter 11 case, the Debtor and Patheon
participated in active negotiations spanning several weeks with
respect to the Claim.   Specifically, the parties exchange
information and materials, as well as participated in
court-directed mediation. In connection with the Claim, the
Debtor’s advisors undertook a review of the Patheon Claim and
potential defenses and counter claims the Debtor’s estate may
have had against Patheon.  As part of that review, the Debtor’s
legal and financial advisors studied transaction agreements and
related documents, correspondence by and among the parties, and
other materials, as well as researched and analyzed the applicable
law governing CSA and potential claims.  Members of the Debtor's
management discussed the CSA, potential claims that may arise out
of the CSA, and the Patheon Claim.

On March 10, 2023, the Court entered an order for mediation
between, among other parties, the Debtor and Patheon, regarding
issues relating to the Disclosure Statement and the Debtor's Plan.
The Debtor and Patheon participated in a mediation that occurred on
March 15, 2023 and April 24, 2023.

In connection with its review of the Patheon Claim and potential
counter claims against Patheon, as well as the mediation amongst
the parties, the Debtor, in consultation with its advisors,
determined that litigating claims arising out of the Patheon Claim
and the CSA would involve significant costs to the estate and have
a uncertain outcome, and the costs of pursuing any such litigation
would likely outweigh the expected outcome if litigated to
resolution.  Patheon also maintained that no viable defenses or
counter claims exist and have expressed their intent to vigorously
prosecute the Patheon Claim and defend any counter claim asserted
against it.

In light of such determination, in an exercise of its sound
business judgment, the Debtor entered into the Settlement
Agreement.

The Parties, following mediation and good faith and arm's-length
negotiations, have negotiated the Settlement Agreement in
resolution of the Claim.  The Settlement Agreement contains the
following key terms:

  * On the Effective Date, proof of claim number 143 shall be
allowed as a general unsecured claim in the amount of $85,000,000.

  * All other proofs of claim filed by Patheon on the Debtor’s
claims register shall be deemed withdrawn.

  * Patheon shall be deemed to be both a Released Party and
Releasing Party, as such terms are defined under the Plan (as
amended), and applied pursuant to the terms and conditions of the
Plan.

  * Patheon shall support the Debtor's Plan through the
confirmation and implementation thereof.

  * No further claims between the Parties will arise from the
Settlement Agreement.

The Debtor has worked with its advisors to review the Settlement
Agreement and determined it is reasonable and appropriate.  The
Settlement resolves legal issues that are subject to potential
litigation, as well as provides further certainty with respect to
recoveries and disbursement to general unsecured creditors.
Moreover, with Patheon's support of the Plan, it facilitates a
clearer path to confirmation of the Debtor's proposed Plan.  Absent
the Settlement Agreement, Patheon's Claim would be subject to a
claim estimation process that would increase the administrative
expense borne by the estate, and ultimately require the Claim to be
resolved through a costly and time consuming claim objection
process. That process would not only increase costs to the estate
and Patheon, but would also impact other creditors of the Debtor.
That is, any uncertainty regarding the amount of Patheon’s Claim
would impact the amount of funds available for immediate
disbursement to creditors upon the Plan becoming effective.

                       About Tricida Inc.

Tricida Inc. -- https://www.tricida.com/ -- is a pharmaceutical
company working to turn the tide on metabolic acidosis and
progression of chronic kidney disease.  The company is based in
South San Francisco, Calif.

Tricida filed a petition for relief under Chapter 11 of the
Bankruptcy Code (Bankr. D. Del. Case No. 23-10024) on Jan. 12,
2023, It disclosed $93,879,000 in total assets against $229,977,000
in total debt as of Sept. 30, 2022.

The Debtor tapped Sidley Austin, LLP and Young Conaway Stargatt &
Taylor, LLP, as counsels; SerraConstellation Partners, LLC as
financial advisor; and Stifel, Nicolaus & Company, Inc., and Miller
Buckfire, LLC as investment bankers. Kurtzman Carson Consultants,
LLC is the claims agent and administrative advisor.

The U.S. Trustee for Region 3 appointed an official committee to
represent unsecured creditors in the Debtor's Chapter 11 case.
Womble Bond Dickinson (US) LLP and Rock Creek Advisors, LLC serve
as the committee's legal counsel and financial advisor,
respectively.


TUESDAY MORNING: Hilco Sets June 8 Deadline for Offers
------------------------------------------------------
Hilco Streambank (www.HilcoStreambank.com), a leading intellectual
property advisory firm specializing in the valuation and
monetization of intangible assets, on May 24 disclosed that it is
seeking offers to acquire the brand assets of leading off-price
branded home furnishings retailer Tuesday Morning(R).

Indications of interest to acquire the assets are due by June 8,
2023. Interested parties can click here to learn more or contact
Hilco Streambank directly.

Founded on a Tuesday morning in 1974 in Dallas, Texas as a local,
recurring Tuesday morning bargain hunt, the Tuesday Morning(R)
brand expanded into a leading retail destination and experience for
savvy shoppers to hunt for bargains on name-brand, quality home
furnishings across a nationwide, 500-store footprint. The retailer
achieved $1 billion in revenue at its peak in each of 2018 and
2019.

Hilco Streambank Executive Vice President David Peress commented,
"Tuesday Morning(R) is a beloved retail banner that continues to
reach millions of customers through its nearly 200 retail stores.
The Tuesday Morning(R) brand provides a meaningful opportunity to
maintain engagement with its valuable customer base and to
reactivate the remainder through new channels such as e-commerce
and new product categories." Peress continued, "The off-price
retail sector continues to grow and the Tuesday Morning(R) banner
provides a well-loved platform to reach customers who seek the
thrill of the 'bargain hunt.'"

Available assets include the Tuesday Morning(R) trademarks, domain
names including TuesdayMorning*com, customer database, social media
accounts, design patents, and related digital content.

Hilco Streambank Deal Team

David Peress
EVP
dperess@hilcoglobal.com
617.642.1909

Jordon Parker
VP
jparker@hilcoglobal.com
719.821.0894

Stella Silverstein
Analyst
ssilverstein@hilcoglobal.com
646.651.1953

                 About Hilco Streambank

Hilco Streambank is a market leading advisory firm specializing in
intellectual property disposition and valuation. Having completed
numerous transactions including sales in publicly reported Chapter
7 and 11 bankruptcy cases, private transactions, and online sales
through IPv4.Global, Hilco Streambank has established itself as the
premier intermediary in the consumer brand, internet, and telecom
communities. Hilco Streambank is part of Northbrook, Illinois based
Hilco Global, the world's leading authority on maximizing the value
of business assets by delivering valuation, monetization and
advisory solutions to an international marketplace. Hilco Global
operates more than twenty specialized business units offering
services that include asset valuation and appraisal, retail and
industrial inventory acquisition and disposition, real estate and
strategic capital equity investments.

                     About Tuesday Morning

Dallas, Texas-based Tuesday Morning Corporation is an off-price
retailer specializing in products for the home, including upscale
home textiles, home furnishings, housewares, gourmet food, toys and
seasonal decor, at prices generally below those found in boutique,
specialty and department stores, catalogs and on-line retailers.

Tuesday Morning and several affiliates filed for Chapter 11
bankruptcy protection (Bankr. N.D. Texas Lead Case No. 23-90001) on
Feb. 14, 2023.  The Debtors said both assets and liabilities, on a
consolidated basis, range from $100 million to $500 million.

Judge Edward L. Morris presides over the cases.

The Debtors tapped Munsch Hardt Kopf & Harr, P.C., as bankruptcy
counsel; Phelanlaw as special counsel; Force Ten Partners LLC as
financial advisor; and Piper Sandler & Co. as investment banker.
Stretto, Inc. is the claims and noticing agent.

The U.S. Trustee for Region 6 appointed an official committee to
represent unsecured creditors in the Debtors Chapter 11 cases.  The
committee is represented by the law firms of Fox Rothschild, LLP
and Lowenstein Sandler, LLP. Province, LLC serves as the
committee's financial advisor.



UKG INC: S&P Rates New $400MM Incremental 1st-Lien Term Loan 'B-'
-----------------------------------------------------------------
S&P Global Ratings assigned its 'B-' issue-level rating and '3'
recovery rating to UKG Inc.'s proposed $400 million non-fungible
incremental first-lien term loan due May 2026. The '3' recovery
rating indicates its expectation for meaningful (50%-70%; rounded
estimate: 55%) recovery in the event of a payment default.

S&P said, "At the same time, we affirmed our 'B-' issue-level
rating on the company's existing first-lien senior secured debt,
which will rank pari passu with this proposed incremental
non-fungible first-lien term loan, and our 'CCC' issue-level rating
on its secured second-lien debt."

Under the proposed transaction, UKG will use the net proceeds from
the issuance to repay outstanding borrowings on its revolver and
will use any remaining funds for general corporate purposes,
including to pay transaction-related expenses, bolster its
liquidity, and--potentially--fund future acquisitions. This debt
issuance will increase the company's total debt to $8.5 billion and
expand its S&P Global Ratings-adjusted leverage to approximately
12.7x (proforma for the 12 months ended Dec. 31, 2022). It may also
marginalize free cash flow generation capacity in 2023, which S&P
previously projected to be around $45 million and now believe could
turn modestly negative. This is due to the increased interest
expense from the new debt and the one-time expenses it incurred for
future cost savings.

S&P said, "Still, even with these expectations, we believe UKG can
generate free cash flow well in excess of debt service if it
sustains the strong expansion in its subscription revenue and
bookings. Following the transaction, we also project the company
will have a cash balance of approximately $300 million and full
availability under its $545 million revolving credit facility
(RCF), which will provide it with total liquidity of over $845
million (compared with $158 million of cash and $308 million of
availability under its RCF as of Mar. 31, 2023). Consequently, the
transaction will likely also alleviate the risk stemming from UKG's
shrinking cash balance and rising revolver utilization, which is a
consideration that could prompt us to lower our ratings."

S&P's existing 'B-' issuer credit rating on UKG is unchanged.

S&P said, "The negative outlook continues to reflect the potential
that we will lower our ratings if the company's expected revenue
expansion and profitability improvements do not materialize and its
operating performance is insufficient to support sustained
deleveraging and improving free cash flow generation, which we
consider necessary for it to maintain its debt obligations and
satisfy its ongoing liquidity requirements."

ISSUE RATINGS--RECOVERY ANALYSIS

Key analytical factors

-- S&P's simulated default scenario analysis on UKG contemplates a
default in 2025 as the company faces strong price competition from
the crowded human capital management (HCM) space, leading to severe
attrition among its existing client base and an inability to cover
its debt and interest expense.

-- S&P's updated recovery analysis now assumes a capital structure
comprising $7.03 billion of first-lien term loans due in 2026, a
$1.45 billion second-lien term loan due in 2027, and a $545 million
revolving credit facility due in 2026.

-- In S&P's analysis, it values the company as a going concern to
maximize the value to its creditors.

-- S&P applied a 7x EBITDA multiple to an assumed distressed
emergence EBITDA of $655 million to derive an estimated gross
recovery value of $4.5 billion.

-- The valuation multiple is consistent with those S&P uses for
similar software companies.

Simulated default assumptions

-- Simulated year of default: 2025
-- Emergence EBITDA: $655 million
-- EBITDA multiple: 7x
-- Jurisdiction: U.S.

Simplified waterfall

-- Net enterprise value (after 5% administrative costs): $4.35
billion

-- Valuation split (obligors/nonobligors): 90%/10%

-- Collateral value available to first-lien debt claims: $4.2
billion

-- Noncollateral value available to claims: $152 million

-- Secured first-lien debt claims: $7.6 billion

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

-- Secured second-lien debt claims: $1.5 billion

    --Recovery expectations: 0%-10% (rounded estimate: 0%)



VIRGIN ORBIT: Finds 4 Winning Bidders, to Halt Operations
---------------------------------------------------------
Virgin Orbit Holdings, Inc. , a responsive space launch provider,
on May 23 disclosed that, following a comprehensive sale process
and competitive auction conducted under the United States
Bankruptcy Code, the Company will sell its assets to four winning
bidders and will cease operations.

The following is a statement from the Company:

"Throughout its history, Virgin Orbit has been at the forefront of
innovation and has made substantial contributions to the field of
commercial rocket launch with its LauncherOne air launch platform.
The Company's cutting-edge technology, unmatched expertise, and
commitment to excellence have propelled it to the vanguard of an
emerging commercial launch industry.

"As Virgin Orbit embarks on this path, the management and employees
would like to extend their heartfelt gratitude to all stakeholders,
including customers, partners, investors, and employees, for their
support and dedication over the years. It is through their
collective efforts that the Company has been able to achieve
significant milestones and make lasting contributions to the
advancement of satellite launch in the United States and the United
Kingdom.

"Virgin Orbit's legacy in the space industry will forever be
remembered. Its groundbreaking technologies, relentless pursuit of
excellence, and unwavering commitment to advancing the frontiers of
air launch have left an indelible mark on the industry."

The transactions are subject to approval by the Court and certain
other customary closing conditions. A hearing to seek Court
approval was scheduled for May 24, 2023 with the transactions
expected to close shortly thereafter.

As previously announced, on April 4, 2023, the Company and its
U.S.-based subsidiaries filed a voluntary proceeding under Chapter
11 of the U.S. Bankruptcy Code ("Chapter 11") in the United States
Bankruptcy Court in the District of Delaware in order to effectuate
a sale of the business. The combined total proceeds were determined
by a rigorous and competitive auction which maximizes value for the
estate and minimizes the remaining duration of the Company’s
restructuring.

For more information about Virgin Orbit’s Chapter 11 case, please
visit https://cases.ra.kroll.com/virginorbit/ or contact Kroll, the
Company’s noticing and claims agent, at +1 833-570-5269 (Toll
Free), +1 646-440-4773 (International) or by e-mail at
VirginOrbitInfo@ra.kroll.com.

                         About Virgin Orbit

Virgin Orbit Holdings, Inc (OTCMKTS: VORBQ) --
http://www.virginorbit.com/-- operates one of the most flexible
and responsive space launch systems ever built.  Founded by Sir
Richard Branson in 2017, the Company began commercial service in
2021, and has already delivered commercial, civil, national
security, and international satellites into orbit. Virgin Orbit's
LauncherOne rockets are designed and manufactured in Long Beach,
California, and are air-launched from a modified 747-400 carrier
aircraft that allows Virgin Orbit Holdings, Inc., to operate from
locations all over the world in order to best serve each customer's
needs.

Virgin Orbit Holdings, Inc., and its affiliates sought relief under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case
No. 23-10405) on April 4, 2023.

In the petition filed by Daniel M. Hart, as chief executive
officer, Virgin Orbit reported total assets of $242,978,000 and
total debt of $153,491,000 as of Sept. 30, 2022.

The Debtors tapped YOUNG CONAWAY STARGATT & TAYLOR, LLP, and LATHAM
& WATKINS LLP as counsel; DUCERA PARTNERS LLC as investment banker
and financial advisor; and ALVAREZ & MARSAL NORTH AMERICA LLC as
restructuring advisor.  KROLL RESTRUCTURING ADMINISTRATION LLC is
the claims agent.

Virgin Group and the Debtors' indirect parent entity, Virgin
Investments Limited, in its role as Lender and Administrative Agent
and Collateral Agent, retained Davis Polk & Wardwell LLP, FTI
Consulting, Inc., and Morris, Nichols, Arsht & Tunnell LLP as
advisors.


VPR BRANDS: Posts $25K Net Income in First Quarter
--------------------------------------------------
VPR Brands, LP has filed with the Securities and Exchange
Commission its Quarterly Report on Form 10-Q disclosing net income
of $25,314 on $3.08 million of total revenues for the three months
ended March 31, 2023, compared to a net loss of $147,241 on $1.05
million of total revenues for the three months ended March 31,
2022.

As of March 31, 2023, the Company had $1.40 million in total
assets, $3.69 million in total liabilities, and a total partners'
deficit of $2.29 million.

The Company has an accumulated deficit of $10,393,382 and a working
capital deficit of $1,804,398 at March 31, 2023.  

VPR said, "The Company is in default on certain of its debt
obligations.  The continuation of the Company as a going concern is
dependent upon, among other things, the continued financial support
from its common unit holders, the ability of the Company to obtain
necessary equity or debt financing, and the attainment of
profitable operations.  These factors, among others, raise
substantial doubt regarding the Company's ability to continue as a
going concern.  There is no assurance that the Company will be able
to generate sufficient revenues in the future."

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

https://www.sec.gov/ix?doc=/Archives/edgar/data/1376231/000121390023040914/f10q0323_vprbrandslp.htm

                          About VPR Brands

Headquartered in Ft. Lauderdale, FL, VPR Brands, LP --
http://www.VPRBrands.com-- is company engaged in the electronic
cigarette and personal vaporizer business.

VPR Brands reported a net loss of $203,697 on $4.93 million of
revenues for the year ended Dec. 31, 2022, compared to net income
of $127,174 on $6.22 million of revenues for the year ended Dec.
31, 2021. As of Dec. 31, 2022, the Company had $1.63 million in
total assets, $3.95 million in total liabilities, and a total
partners' deficit of $2.32 million.

Los Angeles, California-based Kreit & Chiu CPA's LLP, the Company's
auditor since 2022, issued a "going concern" qualification in its
report dated April 13, 2023, citing that the Company has an
accumulated deficit of $10,418,696 and a working capital deficit of
$1,938,476 at Dec. 31, 2022.  These factors, among others, raise
substantial doubt regarding the Company's ability to continue as a
going concern.


WHITE RABBIT: Unsecureds to Receive 5 Annual Payments
-----------------------------------------------------
White Rabbit Ventures, Inc., filed a Modified First Amended Plan of
Reorganization dated May 12, 2023, as follows.

The projected Disposable Income committed to this Plan is based on
projections prepared by Wendy Marvin and by Craig Banta, the
Debtor's Director of Internal Operations, based on past performance
and assumptions based on that past performance, which the Debtor
believes to be a reasonable basis for the calculations.

The Debtor will serve as the Disbursing Agent as designated in
Article XI. The Debtor will disburse a plan payment in the amount
of $7,194 per month beginning on or before the fifteenth day of the
month following the Effective Date and continuing for 60
consecutive months, as generally set forth in the Five-Year
Projections prepared by White Rabbit and attached as Exhibit 1,
plus an annual payment to holders of general unsecured claims
without priority and payable as discussed in the Treatment column
for Class 4 claims, provided that the formula calculations yield a
positive number for each annual payment. Payments to the DOR and
the SBA shall continue beyond the 60-month Plan period.

The Plan will treat claims as follows:

   * Class 4: Unsecured claims without priority, whether filed or
scheduled. The Debtor proposes to allow the general unsecured and
non-priority portion of Claims 1, 2, 4, 5, 6, 7, 8, 9, 10, 11, and
13 as filed. Scheduled general unsecured claims without priority,
and scheduled in an amount certain are deemed allowed as scheduled.
Class 4 claims shall receive five annual payments, distributed on
an equal pro-rata basis and with the annual payment amount
calculated as follows: On January 31, 2024, and on each succeeding
January 31, with the fifth annual payment due by the last business
day of the month following the final Plan payment, the Debtor shall
make a distribution to the holders of Allowed Claims in Class 4.
This distribution shall be the difference, if positive, between the
Debtor's cash on hand and the total of (a) $100,000, plus (b) any
payments remaining due to unclassified administrative and priority
claims in Classes 1, 2, and 3 for current and/or prior years, plus
(c) the estimated amount needed to distribute to the Debtor's sole
shareholder to pay income tax for the current tax year, plus (d)
all accounts payable then owed by the Debtor.  Class 4 is impaired.


   * Class 5: Claims scheduled in an unknown amount. The Debtor
scheduled several claims in an unknown amount, and each of those
scheduled creditors received notices in this case. On May 12, 2023,
the Debtor filed an amended Schedule F [Dkt. # 274] listing
additional potential claims as disputed and in an unknown amount,
and provided notice of the bankruptcy filing to those parties.
Pursuant to section 6.02, Debtor will not object to any claim filed
by a party listed on amended Schedule F [Dkt. # 274] solely on the
grounds of lateness, provided that such claim is filed prior to the
Effective Date. The Debtor proposes to allow claims scheduled in an
unknown amount, where no proof of claim was filed, as $0.00. All
claims scheduled in an unknown amount are set forth on the attached
amended Exhibit 5. Class 5 is impaired.

   * Class 6: Claims for ordinary business expenses. The Debtor
scheduled several unsecured claims that are ordinary and ongoing
business expenses, and that have been paid in the ordinary course.
The Debtor proposes to allow scheduled ordinary and ongoing
business expense claims, where no proof of claim was filed, as
$0.00.  Class 6 is unimpaired.

   * Class 7: Subordinated General Unsecured Claims without
priority for penalties and interest on penalties. Claim 2, as
amended, includes a claim for penalties and interest on penalties
in the total amount of $203.82. Claim 14, as amended, includes a
claim for penalties in the amount of $61.16.  Claim 16 is a claim
based solely on penalties and interest on penalties in the amount
of $11.02. See Exhibit 7. Penalties and interest on penalties are
subordinated to administrative claims, secured claims, unsecured
claims with priority, and unsecured claims without priority. See 11
U.S.C.§726(a). Debtor will not make any payments to Class 6, as
certain classes of claims with priority to Class 6 will not be paid
in full. Class 7 is impaired.

White Rabbit will continue to operate its business, and will act as
the Plan disbursing agent, as authorized by 11 U.S.C. Sec. 1194(a),
making the monthly and/or annual disbursements discussed in Article
V above and as set forth on the attached Exhibit 1.

A copy of the Plan dated May 12, 2023, is available at
https://bit.ly/454fl8s from PacerMonitor.com.

                     About White Rabbit Ventures

White Rabbit Ventures, Inc. sought protection under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. W.D. Wash. Case No. 22-40173) on
February 14, 2022. In the petition signed by Wendy J. Marvin, chief
executive officer, the Debtor disclosed up to $1 million in assets
and up to $10 million in liabilities.

Judge Mary Jo Heston oversees the case.

Geoffrey Groshong, Esq., at Groshong Law PLLC is the Debtor's
counsel.


YIELD10 BIOSCIENCE: Receives Noncompliance Notice From Nasdaq
-------------------------------------------------------------
Yield10 Bioscience, Inc. received a deficiency letter from the
Listing Qualifications Department of the Nasdaq Stock Market on
May 18, 2023, notifying the Company that it is not in compliance
with the minimum stockholders' equity requirement for continued
listing on the Nasdaq Capital Market.  

Nasdaq Listing Rule 5550(b)(1) requires companies listed on the
Nasdaq Capital Market to maintain stockholders' equity of at least
$2,500,000.  The Company's Quarterly Report on Form 10-Q for the
quarter ended March 31, 2023, filed with the Securities and
Exchange Commission on May 12, 2023, reported stockholders' equity
of $1,143,000, which is below the Stockholders' Equity Requirement
for continued listing on the Nasdaq Capital Market.  As of the date
of this Current Report on Form 8-K, the Company does not have a
market value of listed securities of $35 million, or net income
from continued operations of $500,000 in the most recently
completed fiscal year or in two of the last three most recently
completed fiscal years, the alternative quantitative standards for
continued listing on the Nasdaq Capital Market.

The Letter has no immediate effect on the Company's continued
listing on the Nasdaq Capital Market, subject to the Company's
compliance with the other continued listing requirements.  In
accordance with Nasdaq rules, the Company has been provided 45
calendar days, or until July 3, 2023, to submit a plan to regain
compliance.  If the Compliance Plan is acceptable to the Staff,
they may grant an extension of 180 calendar days from the date of
the Staff notification to regain compliance with the Stockholders'
Equity Requirement.

If the Staff does not accept the Compliance Plan, the Staff will
provide written notification to the Company that the Compliance
Plan has been rejected.  At that time, the Company may appeal the
Staff's determination to a Nasdaq Hearings Panel.

The Company intends to submit the Compliance Plan on or before July
3, 2023, monitor its stockholders' equity and, if appropriate,
consider further available options to regain compliance with the
Stockholders' Equity Requirement.  There can be no assurance that
the Company will be able to regain compliance with the Rule.

                           About Yield10

Yield10 Bioscience, Inc. -- http://www.yield10bio.com-- is an
agricultural bioscience company that is using its differentiated
trait gene discovery platform, the "Trait Factory", to develop
improved Camelina varieties for the production of proprietary seed
products, and to discover high value genetic traits for the
agriculture and food industries.

Yield10 Bioscience reported a net loss of $13.57 million for the
year ended Dec. 31, 2022, compared to a net loss of $11.03 million
for the year ended Dec. 31, 2021. As of Dec. 31, 2022, the Company
had $8.08 million in total assets, $3.68 million in total
liabilities, and $4.40 million in total stockholders' equity.

Boston, Massachusetts-based RSM US LLP, the Company's auditor since
2017, issued a "going concern" qualification in its report dated
March 14, 2023, citing that the Company has suffered recurring
losses from operations and does not have sufficient liquidity to
meet forecasted costs.  This raises substantial doubt about the
Company's ability to continue as a going concern.


[*] Hilco Real Estate Announces Two Key Hires to Organization
-------------------------------------------------------------
Hilco Real Estate, LLC (HRE), an operating unit of Hilco Global, on
May 24 announced two key hires to its organization. Joining the
organization is Jamie Coté Vice President for the Asset Sales
group and Don Groft as Senior Managing Director for the Golf and
Resort Advisory group.

"We are thrilled to welcome Jamie and Don to the HRE team," says
Jeff Azuse, Executive Vice President. "Their knowledge and depth of
expertise make them valuable and impactful additions to our
organization. We are confident they will make significant
contributions quickly, helping continue both growth and success on
behalf of HRE."

Jamie Coté brings a wealth of experience to the firm, having sold
$1.5B of real estate throughout his 20-year career. He has also
served many high-profile clients such as JP Morgan Chase, Bank of
America, Prudential, Wells Fargo, Northern Trust, Fifth Third Bank,
ING/Clarion, iStar Financial, Alcoa, Tyco, Ameren, American
Greetings, the State of Illinois as well as Trustees, Debtors and
Secured Creditors in numerous bankruptcy transactions.

Prior to HRE, Jamie held senior level positions at several national
real estate firms. He has also been a long-time member of the
Turnaround Management Association (TMA) and remains actively
involved, currently as a board member of the TMA Scholarship
Foundation.

"I am looking forward to working alongside such a talented team
here at HRE," says Mr. Coté. "I'm excited to continue the team's
success growing their market-leading real estate advisory practice
by utilizing my skills and experience to achieve our shared
goals."

With over 10 years of real estate and golf experience, Don Groft
has extensive knowledge of both industries, specifically in club
management, large account management, sales, tournament operations,
instruction, business development as well as land and facility
development.

Deeply involved with PGA of America, Don has been a Life Member and
a PGA professional since 1999, which has only enhanced his
understanding of golf industry dynamics.

"I am thrilled to join this esteemed team and contribute to the
growth of the Golf and Resort Advisory group," shared Mr. Groft.
"My aim is to foster strong relationships with key stakeholders and
develop strategic partnerships to drive business growth. I am
confident that together, we will achieve remarkable success."

HRE is a trusted strategic advisor to Fortune 100 corporations, the
nation's largest financial institutions as well as some of the
largest companies in North America. We are a dedicated,
full-service, strategic real estate advisory firm, and the addition
of Jamie Cote and Don Groft help ensure we will continue to deliver
best-in-class service to our clients well into the future.  

To learn more about Hilco Real Estate or our advisory services,
please visit HilcoRealEstate.com or call (855) 755-2300.

                    About Hilco Real Estate

Hilco Real Estate ("HRE"), a Hilco Global company
(HilcoGlobal.com), is headquartered in Northbrook, Illinois (USA).
HRE is a national provider of strategic real estate repositioning
and disposition services. Acting as an agent or principal, HRE
advises and executes strategies to assist clients in deriving the
maximum value from their real estate assets. By leveraging
multi-faceted sales strategies and techniques, aggressive
repositioning and restructuring experience, a vast and motivated
network of buyers and sellers, and substantial access to capital,
HRE exceeds expectations even in the most complex transactions. The
HRE team serves as consultants, advisors and capital partners to
companies across North America, assisting healthy companies and
those in transition. HRE is the preeminent authority in developing
and executing portfolio optimization strategies and provides
comprehensive commercial real estate portfolio services, including
lease advisory/renewal/repositioning, asset sales, asset management
and receivership. HRE also has and will deploy capital when the
strategic situation presents itself, including in note purchases,
short term bridge lending and opportunistic acquisitions.



[^] BOOK REVIEW: Macy's for Sale
--------------------------------

Author: Isadore Barmash
Paperback: 180 pages
List price: $34.95
Review by Henry Berry

Order your personal copy today at
http://www.beardbooks.com/beardbooks/macys_for_sale.html  

Isadore Barmash writes in his Prologue, "This book tells the story
of Macy's managers and their leveraged buyout, the newest and most
controversial device in the modern financial armament" when it took
place in the 1980s.  At the center of Barmash's story is Edward S.
Finkelstein, Macy's chairman of the board and chief executive
office.  Sixty years old at the time, Finkelstein had worked for
Macy's for 35 years.  Looking back over his long career dedicated
to the department store as he neared retirement, Finkelstein was
dismayed when he realized that even with his generous stock
options, he owned less than one percent of Macy's stock.  In the
years leading up to his unexpected, bold takeover, Finkelstein had
made over Macy's from a run-of-the-mill clothing retailer into a
highly profitable business in the lead of the lucrative and growing
fashion and "lifestyle" field.

To aid him in accomplishing the takeover and share the rewards with
him, Finkelstein had brought together more than three hundred of
Macy's top executives.  To gain his support for his planned
takeover, Finkelstein told them, "The ones who have done the job at
Macy's are the ones who ought to own Macy's."  Opposing Finkelstein
and his group were the Straus family who owned the lion's share of
Macy's and employees and shareholders who had an emotional
attachment to Macy's as it had been for generations, "Mother
Macy's" as it was known.  But the opponents were no match for
Finkelstein's carefully laid plans and carefully cultivated
alliances with the executives.  At the 1985 meeting, the
shareholders voted in favor of the takeover by roughly 80%, with
less than 2% opposing it.

The takeover is dealt with largely in the opening chapter.  For the
most part, Barmash follows the decision making by Finkelstein, the
reorganization of the national company with a number of branches,
the activities of key individuals besides Finkelstein, Macy's moves
in the competitive field of clothing retailing, and attempts by the
new Macy's owners led by Finkelstein to build on their successful
takeover by making other acquisitions.  Barmash allows at the
beginning that it is an "unauthorized book, written without the
cooperation of the buying group." But as he quickly adds, his
coverage of Macy's as a business journalist and his independent
research for over a year gave him enough knowledge to write a
relevant and substantive book.  The reader will have no doubt of
this.  Barmash's narrative, profiles of individuals, and analysis
of events, intentions, and consequences ring true, and have not
been contradicted by individuals he writes about, subsequent
events, or exposure of material not public at the time the book was
written.

First published in 1989, the author places the Macy's buyout in the
context of the business environment at the time: the aggressive,
largely laissez-faire, Reagan era.  Without being judgmental, the
author describes how numerous corporations were awakened from their
longtime inertia, while many individuals were feeling betrayed,
losing jobs, and facing uncertain futures.

Isadore Barmash, a veteran business journalist and author, was
associated with the New York Times for more than a quarter-century
as business-financial writer and editor.  He also contributed many
articles for national media, Reuters America, and the Nihon Kenzai
Shimbun of Japan.  He has published 13 books, including a novel and
is listed in the 57th edition of Who's Who in America. He was born
in 1921 and died in 2006.



                            *********

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