/raid1/www/Hosts/bankrupt/TCR

/raid1/www/Hosts/bankrupt/TCR_Public/230906.mbx T R O U B L E D C O M P A N Y R E P O R T E R Wednesday, September 6, 2023, Vol. 27, No. 248 Headlines 10421 NORTHVALE: Unsecureds Owed $1M Will be Discharged 225 BOWERY: Gets Court Approval for Nov. 14 Auction of Hotel 5280 AURARIA: Wins Cash Collateral Access Thru Sept 30 59 NORTH 6TH STREET: Seeks to Extend Plan Exclusivity to November 2 6 TO 9 DENTAL: Files Emergency Bid to Use Cash Collateral 9300 WILSHIRE: Gets Tentative Approval to Sell Asset for $4.3MM ADAMIS PHARMACEUTICALS: Schedules Annual Meeting for Nov. 9 AETIUS COMPANIES: Hires Hamilton Stephens as Bankruptcy Counsel ALL-CARE PHARMACY: Wins Cash Collateral Access Thru Oct 13 ALPINE 4 HOLDINGS: Secures Multiple Contracts Totaling $9 Million AMERIFIRST FINANCIAL: Court OKs $5MM DIP Loan from RCP Credit AN GLOBAL: Court OKs $119MM DIP Loan from Blue Torch ARUZE GAMING: Gets OK to Sell Vehicles to Interblock for $246,000 AVENIR KNOXVILLE: No Patient Care Concern, 2nd PCO Report Says AVENTIS SYSTEMS: Court OKs Cash Collateral Access Thru Dec 31 AVERY ASPHALT: Oct. 25 Disclosure Statement Hearing Set BENITAGO INC: Seeks Cash Collateral Access BERTRAMS PAINTING: Hires Van Horn Law Group PA as Counsel BISHOP OF OAKLAND: Seeks to Extend Plan Exclusivity to January 5 BITNILE METAVERSE: Board OKs Zest Labs Spin-Off BLOCKFI INC: Court Disallows Gerro's Proof of Claim BOXED INC: Seeks to Extend Plan Exclusivity to October 29 CARBON CONSULTANTS: Seeks Use of Cash Collateral CARING HANDS: Unsecureds Will Get 21.85% of Claims over 60 Month CEL-SCI CORP: Extends Employment Deal With 2 Execs Until 2027 CHATTAN 1379: Hires Rountree Leitman Klein as Counsel CHESANING MFG: Wins Cash Collateral Access on Final Basis CHOSHEN ISRAEL: Seeks to Hire Tirelli Law Group as Counsel DELDOR WELLNESS: Court OKs $60,280 Cash Collateral DIAMOND SCAFFOLD: Court OKs Cash Collateral Use Thru Nov 18 EAST POINTE: Unsecureds to Get Share of Income for 60 Months ELITE INVESTMENT: Case Summary & Three Unsecured Creditors ELITE LIMOUSINE: Seeks Cash Collateral Access Thru Sept 30 ESCO LTD: Seeks to Extend Plan Exclusivity to September 29 EVENT PROMOTION: Seeks Cash Collateral Access EXIGENT LANDSCAPING: Gets OK to Tap Stevenson & Bullock as Counsel FT MEDICAL: Court OKs Interim Cash Collateral Access FUJI JAPANESE: Seeks Cash Collateral Access GOODLIFE PHYSICAL: No Change in Patient Care, 3rd PCO Report Says GREELEY LAND: Court OKs Cash Collateral Access GREEN DISTRICT: Charity Bird Named Subchapter V Trustee GREENBERG GOURMET: Court OKs Cash Collateral Access Thru Sept 30 GRS RESTAURANT: Wins Cash Collateral Access on Final Basis GRUPO HIMA SAN: Hires Luis R. Carrasquillo as Financial Advisor GRUPO HIMA SAN: Hires Pietrantoni Mendez as Special Counsel GRUPO HIMA: Court Directs U.S. Trustee to Appoint PCO HEART O'GOLD: May Use Cash Collateral on Final Basis I.C. ELECTRIC: Hires Tishman Fuscaldo as Legal Counsel IGLESIAS EYE: Files Emergency Bid to Use Cash Collateral INDUSTRIAL AUTHORITY: Case Summary & 20 Top Unsecured Creditors INTELIGLAS CORPORATION: Seeks to Hire Bayard PA as Legal Counsel INTELIGLAS CORPORATION: Seeks to Tap Lazare as Legal Counsel IYS VENTURES: Court OKs Cash Collateral Access Thru Sept 30 J & D RESTAURANT: Court OKs Deal on Cash Collateral Access JOANN INC: Incurs $73.3 Million Net Loss in Second Quarter KEYS CONTRACTING: Aleida Molina Named Subchapter V Trustee KEYS CONTRACTING: Seeks to Tap David R. Softness as Legal Counsel LAKEVIEW ELECTRICAL: Seeks to Sell Vehicle for $19,500 LINDEN AUTO: Seeks Cash Collateral Access LORDSTOWN MOTORS: Claims Filing Deadline Set for October 10 LW HOUSTON VIII: Voluntary Chapter 11 Case Summary M.V.J. AUTO: Tarek Kiem Named Subchapter V Trustee MAYA J ATX: Voluntary Chapter 11 Case Summary MEDCOMP SCIENCES: Greta Brouphy Named Subchapter V Trustee MEJJM INC: Hires KC Cohen Lawyer PC as Legal Counsel MERIDIEN ENERGY: Seeks Conditional Approval of Disclosure Statement MERIDIEN ENERGY: Unsecureds to Get Priority if Class Favors Plan MESOBLAST LTD: Incurs $81.9 Million Loss in FY Ended June 30 MILLIES PANCAKE: Court OKs Cash Collateral Access Thru Oct 18 MISEN INC: Hires Cedar Park Partners LLC as Financial Consultant MISEN INC: Hires Sheppard Mullin Richter as Counsel MOUNTAIN VIEW: Seeks Cash Collateral Access Thru Oct 31 MP PPH: Files Emergency Bid to Use Cash Collateral MRS. BUSY BEE: Unsecureds to Split $27K in Consensual Plan MSS INC: Wins Cash Collateral Access Thru Sept 13 MY SISTER'S CLOSET: Disposable Income to Fund Plan Payments NEEDS LLC: Stephen Moriarty Named Subchapter V Trustee NORTH BROOKLYN: Unsecureds to Get 100% Under Plan NORTH VILLAGE: Court OKs Cash Collateral Access Thru Oct 16 NOVAN INC: Committee Taps Dundon Advisers as Financial Advisor NOVAN INC: Committee Taps Goodwin Procter as Bankruptcy Counsel NOVAN INC: Committee Taps Womble Bond Dickinson as Co-Counsel NOVAN INC: Seeks to Hire Ordinary Course Professionals ONE BRIDAL: Disposable Income to Fund Plan Payments OPYS HOLDINGS: Case Summary & 20 Largest Unsecured Creditors PACIFIC BEND: Seeks to Extend Plan Exclusivity to February 28 PERSHARD INVESTMENTS: Court OKs Interim Cash Collateral Access PLATFORM II LAWNDALE: Wins Cash Collateral Access Thru Sept 30 PLOURDE SAND: Disclosures Denied, Amendments Due Oct. 4 POMONA VALLEY: No Patient Complaints, 2nd PCO Report Says PROPERTY ADVOCATES: Wins Cash Collateral Access Thru Sept 28 PROPPANT TECH: Wins Cash Collateral Access PVP KREWSTOWN: Seeks to Tap Underwood Murray as Bankruptcy Counsel R&W CLARK CONSTRUCTION: Court OKs Cash Access Thru Sept 28 R&W CLARK CONSTRUCTION: Seeks Extension to File Plan Until Oct. 27 RACHEL ONE: Salvatore LaMonica Named Subchapter V Trustee RAKKI LLC: Court OKs Cash Collateral Access on Final Basis REAMIR 57 CORP: Seeks 3rd Extension of Plan Approval Deadline REEVES FARM: Oct. 17 Amended Disclosure Statement Hearing Set RIHH LLC: Seeks to Hire Lex Nova Law as Bankruptcy Counsel ROCK RIDGE: Class XI Unsecureds to Get 25% in Plan RODA LLC: Seeks to Extend Plan Exclusivity to September 25 ROLL: BICYCLE: Seeks Cash Collateral Access ROOSEVELT INN: Unsecureds to Get $40,000 S&R AFFORDABLE: Seeks to Tap Kutner Brinen Dickey Riley as Counsel SAN TAN AIR: Dawn Maguire Named Subchapter V Trustee SAS AB: Seeks to Extend Plan Exclusivity to November 8 SEAWALK INVESTMENTS: Case Remanded for Sky's Attorneys' Fees SHERMAN/GRAYSON: Ombudsman Taps Neubert Pepe & Monteith as Counsel SKILLZ INC: Allows Key Employees to Own 20% Stake in Aarki SKILLZ INC: Appoints Jason Roswig as Interim Corporate Controller SSG LLC: Seeks Cash Collateral Access ST. SEBASTIAN: Court OKs Interim Cash Collateral Access STICKY HOLSTERS: Michael Markham Named Subchapter V Trustee SUN VALLEY: Hires Guidant Law PLC as Bankruptcy Counsel SWS SERVICES: PCO Reports No Change in Patient Care TIMBER PHARMACEUTICALS: Secures $3M Loan Commitment From LEO US TKEES INC: Wins Interim Cash Collateral Access Thru Sept 29 TNC SRQ: Case Summary & Three Unsecured Creditors UNITED BRANDS: Case Summary & 20 Largest Unsecured Creditors UNITED FURNITURE: Phoenix Acquires Real Estate Portfolio VALLEY PORK: Seeks Cash Collateral Access VARDAN LLC: Case Summary & 11 Unsecured Creditors VECTOR UTILITIES: Court OKs Cash Collateral Access on Final Basis VIRGIN ORBIT: Seeks to Extend Plan Exclusivity to November 30 WEWORK INC: Draws Under Existing Delayed Draw Notes Commitments WINDSOR TERRACE: Court OKs $6.5MM DIP Loan from RT Lending WYCKOFF EQUITIES: Sam Della Fera Named Subchapter V Trustee [*] Andrew Cross Joins Blank Rome's Restructuring, Bankruptcy Group [*] Commercial Chapter 11 Filings Increase 54% in August 2023 ********* 10421 NORTHVALE: Unsecureds Owed $1M Will be Discharged ------------------------------------------------------- 10421 Northvale LLC submitted a Disclosure Statement describing its Chapter 11 Plan of Reorganization. The Debtor is the owner of a vacant residential lot located at. 10421 Northvale Rd, Los Angeles, CA 90064 ("Property"). Mr. Montero believes the value of the Property is approximately $3,500,000.00. The Debtor has a 1st Trust Deed with Entrust Group in the amount of approximately $1,000,000. The Debtor's position is that the consensual lien is fully secured and has sufficient equity to adequately protect its interests. The Debtor intends to develop and sell the property and pay the entrust Group lien in full from the proceeds of the sale. The Debtor may seek additional funding from the significant equity in the property to develop the property. Entrust Group had initiated foreclosure proceedings prior to the filing of this case. In the present case, the Debtor estimates that Class 3 General Unsecured debt totals $1,000,726. Class 3 claims will be discharged as it is not expected any funds will be available for this class. Class 3 is impaired. The Plan will be funded through the sale or refinance of the Property. In addition, Mr. Montero, as an interest holder of the Debtor, shall contribute new value by providing a cash infusion of $10,000.00 upon the effective date of the plan. Attorney for the Debtor: Thomas B. Ure, Esq. URE LAW FIRM Florence Avenue, Suite 200 Downey, CA 90240 Tel: (213) 202-6070 Fax: (213) 202-6075 E-mail: tem@urelawfirm.com A copy of the Disclosure Statement dated August 25, 2023, is available at https://tinyurl.ph/jiRiT from PacerMonitor.com. About 10421 Northvale LLC 10421 Northvale LLC is the owner of a vacant residential lot located at 10421 Northvale Rd., Los Angeles, CA 90064. It believes the value of the Property is approximately $3,500,000.00. To fend off foreclosure proceedings by lender Entrust Group, the Debtor filed a Chapter 11 petition (Bankr. C.D. Cal. 22-15398) on Oct. 3, 2023. Thomas B. Ure, Esq. at URE LA FIRM, is the Debtor's counsel. 225 BOWERY: Gets Court Approval for Nov. 14 Auction of Hotel ------------------------------------------------------------ The U.S. Bankruptcy Court for the District of Delaware approved bidding procedures for the sale of substantially all of the assets of 225 Bowery LLC, free and clear of all liens, claims, interests, and encumbrances, including real property of the Debtors and hotel located at 225 Bowery, New York, New York. The deadline to file qualified bids for the Debtor's assets is on Nov. 7, 2023, at 10:00 a.m. (prevailing Eastern Time). An auction will take place on Nov. 14, 2023, at 10:00 a.m. (prevailing Eastern Time) followed by a sale hearing set for Nov. 28, 2023, at 2:00 p.m. (prevailing Eastern Time). Objections to the approval of the sale of the Debtor's assets, if any, must be filed no later than 4:00 p.m. (Prevailing Eastern Time) on Oct. 18, 2023, to: a) counsel to the Debtor: Alston & Bird LLP, Attn: Gerard S. Catalanell at Gerard.Catalanello@alston.com; Dylan S. Cassidy at Dylan.Cassidyt@alston.com; and Kimberly Schiffman at Schiffman@alston.com; and Young Conaway Stargatt & Taylor LLP, Attn: Ryan M. Bartley at rbartley@ycst.com; and Andrew A. Mark at amark@ycst.com. b) the office of the United States Trustee for the District of Delaware, J. Caleb Boggs Federal Building, 844 King Street, Suite 2207, Wilmington, Delaware 19801, Attn: Joseph Cudia, Esq., at Joseph.Cudia@usdoj.gov; c) counsel to the secured party, McDermott Will & Emery, Attn: Marcus Helt at mhelt@mwe.com and Maris Kandestin at mkandestin@mwe.com. About 225 Bowery 225 Bowery, LLC, is a New York-based company operating in the traveler accommodation industry. 225 Bowery sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 23-10094) on Jan. 24, 2023. In the petition signed by its chief restructuring officer, Nat Wasserstein, the Debtor reported $50 million to $100 million in both assets and liabilities. Judge Brendan L. Shannon oversees the case. Alston & Bird LLP and Young Conaway Stargatt and Taylor, LLP, is the Debtor's legal counsel while Nat Wasserstein of Lindenwood Associates, LLC serves as the Debtor's chief restructuring officer. Bank Hapoalim B.M., as lender, is represented by Scott S. Balber, Esq., at Herbert Smith Freehills New York, LLP. 5280 AURARIA: Wins Cash Collateral Access Thru Sept 30 ------------------------------------------------------ The U.S. Bankruptcy Court for the District of Colorado authorized 5280 Auraria, LLC to use cash collateral on an interim basis in accordance with the budget, with a 15% variance, through September 30, 2023. The Debtor is directed to provide DB Auraria, LLC and Auraria Stub, LLC on or before the 10th day of the following month, an accounting for the prior month of all revenue, cash expenditures and collections, with a comparison to budget, in substantially the same form as that provided by the receiver on September 6, 2022. To the extent the Court determines the Lender's collateral has diminished in value from the Petition Date, the Lender will receive the following means of adequate protection: a. A 11 U.S.C. Section 507(b) claim for the diminution in value of the Lender's collateral since the Petition Date; and b. A replacement lien, pari passu with the Lender's senior lien, on all assets of the Debtor. To the extent necessary under applicable law, the Lender and Auraria Stub LLC will be deemed to have requested an administrative expense claim in respect of adequate protection relief. The Debtor's right to use cash collateral will terminate upon the earliest of: a. December 28, 2023, provided that funds to be paid from an approved budget for a designated purpose may be expended for that purpose, within the limits of the budget and in the ordinary course of business, the following month. If this situation occurs, the Debtor will specify information in the Monthly Operating Reports so the Lender and Auraria Stub LLC can track what is being done; b. The failure by the Debtor to deliver to DB Auraria, LLC and Auraria Stub, LLC, and to otherwise comply with, any of the reporting or other information required to be delivered pursuant to the Interim Order when due under the Order or any such documents or other information will contain a material misrepresentation; subject to a cure period of three business days after the Debtor receives written notice from DB Auraria, LLC or Auraria Stub, LLC of insufficient reporting; c. The closing date of any sale of substantially all of the Debtor's assets; d. The failure by the Debtor to observe or perform any of its obligations or the other terms or provisions contained therein, including the use of cash collateral in any manner not permitted by or otherwise inconsistent with the Budget (subject to any permitted variance) or agreed to by the Parties; e. The Court will have entered an order dismissing the Chapter 11 Case; f. The Court will have entered an order converting the Chapter 11 Case to a case under chapter 7 of the Bankruptcy Code; and g. The Court will have entered an order authorizing the appointment or election of a trustee or examiner with expanded powers or any other representative with expanded powers relating to the operation of the businesses in the Chapter 11 Case. A copy of the court's order is available at https://urlcurt.com/u?l=ue53tg from PacerMonitor.com. About 5280 Auraria 5280 Auraria, LLC, owns Auraria Student Lofts, a high-rise building in downtown Denver aimed at providing housing for college students. 5280 Auraria's sole member and manager is Nelson Partners, LLC, a Utah limited liability company. The individual principal is Patrick Nelson. 5280 Auraria sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Colo. Case No. 22-12059) on June 9, 2022. In the petition filed by Patrick Nelson, as managing member, the Debtor listed between $50 million and $100 million in both assets and liabilities. Judge Kimberley H. Tyson oversees the case. Michael J. Pankow, Esq., at Brownstein Hyatt Farber Schreck, LLP is the Debtor's counsel. 59 NORTH 6TH STREET: Seeks to Extend Plan Exclusivity to November 2 ------------------------------------------------------------------- 59 North 6th Street LLC asks the U.S. Bankruptcy Court for the Eastern District of New York to extend its exclusive periods to file a plan of reorganization and to solicit acceptances thereto to November 2, 2023 and January 2, 2024 respectively. The Debtor stated that it is presently working to fully lease its real property and improvements located at 59 North 6th Street, Brooklyn, New York 11249. The Debtor is optimistic that committed tenants will generate sufficient net operating income at the property and will allow it to formulate a plan of reorganization acceptable to all of its creditors. The Debtor claimed that it has secured one bona fide offer to lease half the space at the property and other offers are being evaluated. The Debtor stated that it will continue to evaluate offers and expects to enter into 2 separate leases which will be the source of future mortgage payments. The Debtor also explained that the pace of its case has been slowed down because of the Lender's complete refusal to negotiate a proper payoff of the loan. The Debtor asserts that, under the circumstances, it should be given a reasonable extension to conduct discovery, challenge the Lender's claim and move forward with its leasing plans in order to be in a position to secure more favorable, long term conventional financing. Unless extended, the Debtor's exclusive periods to file a plan of reorganization and solicit acceptances thereto expire on August 2, 2023 and September 2, 2023, respectively. 59 North 6th Street LLC is represented by: Gary M. Kushner, Esq. Scott D. Simon, Esq. GOETZ FITZPATRICK LLP One Penn Plaza, 31st Floor New York, NY 10119 Tel: 212-695-8100 About 59 North 6th Street 59 North 6th Street LLC is a Single Asset Real Estate (as defined in 11 U.S.C. Sec. 101(51B)). The Debtor owns in fee simple title a property located at 59 North 6th Street Brooklyn, NY 11249 valued at $26 million. 59 North 6th Street filed a petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.Y. Case No. 23-41149) on April 3, 2023. In the petition filed by Rehan Perveez, managing member, the Debtor reported total assets of $26,000,000 and total liabilities of $26,032,348. Judge Nancy Hershey Lord oversees the case. Gary Kushner, Esq., at Goetz Fitzpatrick LLP serves as the Debtor's counsel. 6 TO 9 DENTAL: Files Emergency Bid to Use Cash Collateral --------------------------------------------------------- 6 to 9 Dental Texas, PLLC and 6 to 9 Dental, PLLC ask the U.S. Bankruptcy Court for the Western District of Texas, San Antonio Division, for authority to use cash collateral and provide adequate protection. The Debtors have borrowed funds from both traditional asset-based lenders, as well as from various merchant cash advance (MCA) companies. The Debtors are current, and otherwise not in default, with the Bank Lenders' loans. As for the MCA Lender loans, the Debtors are reserving all rights against the MCA Lenders in relation to their predatory and dishonest lending practices. Moreover, the Debtors are not herein conceding that any lender has a perfected security interest in the Debtors' cash. The essential terms of the proposed use of cash collateral are as follows: a. Pay wages to employees, including a reasonable salary for Dr. Virginia Humphrey, D.D.S.; b. Pay fixed operating expenses, including leases, relating the real property occupied by the Debtors; c. Pay trade vendors and utility providers; and d. Pay certain professional fees and expenses during the course of the Bankruptcy Cases. As adequate protection, the Debtor proposes that any creditor holding an alleged pre-petition lien on the Debtors' cash will be granted a replacement lien, pursuant to 11 U.S.C. Section 361(2). The Replacement Lien will be in all cash the Debtors acquire or generate after the Petition Date, but solely to the extent the cash collateral is used. Moreover, the Replacement Lien will be to the same extent and priority as existed prior to the Petition Date, and subject to determination by the Court as to whether, pursuant to applicable law, any such creditor holds a fully perfected, valid, and enforceable pre-petition lien on cash. The Secured Creditors will also be granted an administrative claim with a priority equivalent to a claim under 11 U.S.C. Sections 503(b), and 507(b), on a dollar-for-dollar basis for and solely to the extent of any diminution in value of the cash collateral, which administrative claim will, among other things, have priority over all other costs and expenses, except for reasonable compensation of Debtors' professionals approved by order of the Court. A copy of the motion is available at https://urlcurt.com/u?l=w9w7rM from PacerMonitor.com. About 6 to 9 Dental Texas, PLLC 6 to 9 Dental Texas, PLLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 23-51139-cag) on August 29, 2023. In the petition signed by Virginia Humphrey, manager, the Debtor disclosed up to $10 million in both assets and liabilities. Jason Binford, Esq., at Ross, Smith & Binford, PC, represents the Debtor as legal counsel. 9300 WILSHIRE: Gets Tentative Approval to Sell Asset for $4.3MM --------------------------------------------------------------- Judge Ernest Robles of the U.S. Bankruptcy Court for the Central District of California tentatively granted 9300 Wilshire, LLC's motion to sell its interest in a Beverly Hills property to E.D. Flores, LLC for $4.3 million. E.D. Flores offered to buy the company's 10.55% interest in the property located at 9740 Wilshire Blvd. and 129 S. Linden Drive, in Beverly Hills, Calif. In his tentative ruling issued at the Aug. 30 hearing, Judge Robles concluded that E.D. Flores is a good faith purchaser "in view of the interest's exposure to the marketplace" and after reviewing the declaration of 9300 Wilshire's broker, Cushman & Wakefield, regarding its efforts to market the interest. The bankruptcy judge on July 11 conducted an initial hearing on the sale motion during which he ordered 9300 Wilshire to market the interest to ensure it receives the best offer. Between August 9 and 17, Cushman & Wakefield received inquiries from potential buyers but none of them elected to participate in the auction after learning that the sale was only for the interest rather than the property in its entirety. Victor Sahn, Esq., attorney for 9300 Wilshire, said the sale is "supported by sound business judgment." "The purchase price for the 10.55% interest is more than fair and is, in fact, $80,000 in excess of the value given to this asset in [9300 Wilshire's] bankruptcy schedules," the attorney said in court papers. About 9300 Wilshire 9300 Wilshire, LLC is a Beverly Hills-based company engaged in activities related to real estate. 9300 Wilshire filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Calif. Case No. 23-10918) on Feb. 21, 2023, with $100 million to $500 million in assets and $50 million to $100 million in liabilities. Leonid Pustilnikov, 9300 Wilshire's manager, signed the petition. Judge Ernest M. Robles presides over the case. The Debtor tapped Victor A. Sahn, Esq., at Greenspoon Marder, LLP as bankruptcy counsel and Rutan & Tucker, LLP as special counsel. ADAMIS PHARMACEUTICALS: Schedules Annual Meeting for Nov. 9 ----------------------------------------------------------- The Board of Directors of Adamis Pharmaceuticals Corporation has established Nov. 9, 2023, as the date of the Company's 2023 Annual Meeting of Stockholders. The 2023 Annual Meeting will be held virtually by means of remote communication. The time and location of the 2023 Annual Meeting, the matters to be considered and other details of the virtual annual meeting, including how stockholders can log into the virtual meeting, vote and submit questions, will be disclosed in the Company's proxy statement for the 2023 Annual Meeting to be filed with the U.S. Securities and Exchange Commission. Because the date of the 2023 Annual Meeting represents a change of more than thirty calendar days from the date of the anniversary of the Company's 2022 Annual Meeting of Stockholders, pursuant to Rule 14a-8 under the Securities and Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder, the Company is setting a deadline for receipt of Rule 14a-8 stockholder proposals that is a reasonable time before the Company expects to begin to print and send its proxy materials. Such stockholder proposals must also comply with the other requirements of Rule 14a-8 in order to be eligible for inclusion in the Company's proxy statement for the 2023 Annual Meeting. Stockholders wishing to have a Rule 14a-8 proposal considered for inclusion in the Company's proxy statement for the 2023 Annual Meeting must ensure that their proposal is received by the Secretary of the Company at the Company's principal executive offices at 11682 El Camino Real, Suite 300, San Diego, California 92130, no later than the close of business on Sept. 11, 2023, which the Company has determined is a reasonable time before it expects to begin to print and send its proxy materials. Further, stockholders wishing to bring business before the 2023 Annual Meeting outside of Rule 14a-8 or to nominate a person for election to the Board at the 2023 Annual Meeting must submit timely notice thereof to the Company in order for such matters to be considered at the 2023 Annual Meeting. In accordance with the Amended and Restated Bylaws of the Company, as the date of our 2023 Annual Meeting will be held more than thirty days from the date of the first anniversary of the 2022 Annual Meeting, such notice must be received by the Company at its offices no later than the close of business on Sept. 11, 2023, which is the tenth day following the day on which the Company first made the public announcement of the date of the 2023 Annual Meeting. Article III, Section 5 of the Bylaws specifies the requirements relating to the content of the notice that stockholders must provide, and any such notices must be received by the Secretary of the Company in writing at the following address: Adamis Pharmaceuticals Corporation, 11682 El Camino Real, Suite 300, San Diego, California 92130, Attention: Corporate Secretary. The notice must comply with the procedures set forth in the Bylaws and include the information required by the Bylaws. The notice must also comply with the requirements of Delaware law and the rules and regulations promulgated by the SEC. About Adamis Pharmaceuticals Adamis Pharmaceuticals Corporation (NASDAQ: ADMP) -- http://www.adamispharmaceuticals.com-- is a specialty biopharmaceutical company primarily focused on developing and commercializing products in various therapeutic areas, including allergy, opioid overdose, respiratory and inflammatory disease. Adamis reported a net loss applicable to common stock of $26.48 million for the year ended Dec. 31, 2022, compared to a net loss applicable to common stock of $45.83 million for the year ended Dec. 31, 2021. San Diego, California-based BDO USA, LLP, the Company's auditor since 2020, issued a "going concern" qualification in its report dated March 16, 2023, citing that the Company has suffered recurring losses from operations and has a net capital deficiency that raise substantial doubt about its ability to continue as a going concern. AETIUS COMPANIES: Hires Hamilton Stephens as Bankruptcy Counsel --------------------------------------------------------------- Aetius Companies, LLC and its affiliates seeks approval from the U.S. Bankruptcy Court for the Western District of North Carolina to employ Hamilton Stephens Steele + Martin, PLLC as bankruptcy counsel. The firm will render these services: (a) provide legal advice with respect to the powers and duties of the Debtor in the continued operation of its business and management of its properties; (b) negotiate, prepare, and pursue confirmation of a Chapter 11 plan and approval of a disclosure statement, and all related reorganization agreements and documents; (c) prepare legal papers and appear in court; and (e) perform all other legal services for the Debtor which may be necessary and proper in its Chapter 11 proceedings. The firm's hourly rates are as follows: Robert A. Cox, Jr. $575 per hour Glenn Thompson $500 per hour Melanie Raubach $400 per hour Matt Winer $350 per hour Robin Kelley, Paralegal $195 per hour Vickie Hughes, Paralegal $140 per hour Robert A. Cox, Jr., Esq., a partner at Hamilton, disclosed in a court filing that her firm is a "disinterested person" as defined in Section 101(14) of the Bankruptcy Code. Hamilton can be reached through: Robert A. Cox, Jr., Esq. HAMILTON STEPHENS STEELE + MARTIN, PLLC 525 North Tryon Street, Suite 1400 Charlotte, NC 28202 Tel: (704) 344-1117 Email: rcox@lawhssm.com About Aetius Companies, LLC Aetius Companies, LLC and affiliates operate a restaurant chain. The Debtors sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. N.C. Lead Case No. 23-30470) on July 19, 2023. In the petition signed by Mark Cote, president, the Debtor disclosed up to $50 million in both assets and liabilities. Judge Craig Whitley oversees the case. Robert A. Cox, Jr., Esq., at Hamilton Stephens Steele + Martin, PLLC, represents the Debtor as legal counsel. Blystone and Donaldon is the Debtor's financial advisor. ALL-CARE PHARMACY: Wins Cash Collateral Access Thru Oct 13 ---------------------------------------------------------- The U.S. Bankruptcy Court for the District of Arizona authorized All-Care Pharmacy, LLC, a.k.a. Avrio Pharmacy, to use cash collateral on a final basis in accordance with the budget, with a 10% variance, through October 13, 2023. The Debtor and Western Alliance Bank stipulate and agree that as of the Petition Date, the Debtor owed WAB in the aggregate at least $217,525, plus accrued and accruing interest, fees, and costs, including without limitation post-petition interest, attorneys' fees and costs incurred pursuant to the terms of the Business Loan Agreement and Promissory Note executed by the Debtor, as borrower, and WAB, as lender, dated July 6, 2017. The Debtor and WAB stipulate and agree that WAB holds an allowed secured claim against the Debtor's bankruptcy estate in the amount of the WAB Claim Amount, plus all post-petition accruing interest, fees, and reasonable attorneys' fees and costs. The Debtor and WAB further stipulate and agree that the WAB Claim Amount is secured by a valid pre-bankruptcy perfected first position lien and security interest against all of the Debtor's personal property. The Debtor and McKesson Corporation stipulate and agree that as of the Petition Date, the Debtor owed McKesson in the aggregate amount of $539,305 pursuant to the terms of the Debtor's Customer Application dated May 18, 2017, with McKesson. The Debtor and McKesson stipulate and agree that McKesson holds an allowed claim against the Debtor's bankruptcy estate in the amount of the McKesson Claim Amount. The Debtor and McKesson further stipulate and agree that McKesson holds a pre-bankruptcy perfected second position lien and security interest against all of the Debtor's personal property. McKesson and the Debtor reserve all rights regarding: (i) McKesson's entitlement to post-petition accruing fees, costs, and reasonable attorneys' fees; (ii) the value of the McKesson Collateral; and (iii) the extent (if any) to which McKesson holds an allowed secured claim against the Debtor's bankruptcy estate. The Secured Creditors are granted replacement liens on and security interests in all existing and hereinafter acquired property and assets of the Debtor of every kind and character, to the extent and in the same validity, priority, and enforceability that they held liens on and security interests in such kind and character of property and assets of the Debtor as of the commencement of the case. The Secured Creditors are also granted replacement liens on and security interests in the Debtor's litigation claims pending before the Maricopa County Superior Court, Case No. CV2022-009869 and in any associated arbitration proceeding in the same validity, priority, and enforceability that they held liens on and security interests in assets of the Debtor as of the commencement of the case, but only to the extent of diminution in such creditors' collateral positions against the Debtor during the pendency of the bankruptcy case. The Debtor will make a payment to WAB in the amount of $3,440, the amount of the monthly payment under the parties' prebankruptcy agreements, on or before each of: September 5, 2023 and October 5, 2023. WAB and the Debtor reserve all rights regarding WAB's application of the payments. The Debtor's right to use of cash collateral under the Order will cease automatically upon the earlier of: (i) October 14, 2023; (ii) the Debtor's failure to timely pay the WAB Monthly Payment to WAB and the Debtor's failure to pay is not cured within five business of written notice sent by WAB; (iii) the granting of stay relief in favor of WAB or McKesson with respect to their respective collateral; or (iii) the conversion of the Chapter 11 case to a proceeding under Chapter 7 of the Bankruptcy Code. A copy of the order is available at https://urlcurt.com/u?l=e3lIRl from PacerMonitor.com. The Debtor projects total cash disbursements from checking, on a weekly basis, as follows: $102,214 for the week ending September 9, 2023; $81,433 for the week ending September 15, 2023; $115,087 for the week ending September 22, 2023; and $31,978 for the week ending September 29, 2023. About All-Care Pharmacy, LLC All-Care Pharmacy, LLC operates one of the few compounding pharmacies in Arizona. All-Care Pharmacy sells and dispenses specialty medications to treat such diseases as human immunodeficiency virus, hepatitis C, and Crohn's disease. All-Care Pharmacy also sells and dispenses commercial fertility products, as well as Compounded medications for human and animal populations. Over the years, it has focused more of its operations on compounding pharmaceuticals for human and veterinary and pet uses. All-Care Pharmacy sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ariz. Case No. 23-02061) on March 31, 2023. In the petition signed by Raef Hamaed, its member, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Brenda K. Martin oversees the case. Michael A. Jones, Esq., at Allen, Jones and Giles, PLC, represents the Debtor as legal counsel. ALPINE 4 HOLDINGS: Secures Multiple Contracts Totaling $9 Million ----------------------------------------------------------------- Alpine 4 Holdings, Inc., and its subsidiary, Thermal Dynamics International (TDI) announced the procurement of multiple contracts with the United States Department of State through several government contractors, collectively valued at $9 million. Further, the Company's backlog has now swelled to over $19 Million and is expected to keep growing as the Government's fiscal year end approaches on Sept. 30, 2023. These contracts signify a pivotal step forward in TDI's growing relationship with government agencies and underscore its commitment to implementing high-impact thermal solutions for the public sector. Spanning across an 18-month period, these contracts encompass a broad array of services to support the Department of State's global embassy and consular operations. Projects will include climate control systems, thermal management solutions for environmental control equipment, and state-of-the-art refrigeration units for the embassy and consulate offices. John Meiser, president of TDI, had this to say: "The accumulation of these government contracts is a landmark achievement in Thermal Dynamics' history and a critical component in the company's ongoing expansion into the governmental sector. These multiple contracts demonstrate the versatile range of Thermal Dynamics' solutions, capable of meeting the diverse and complex needs of the Department of State. These needs include, but are not limited to, retrofitting of older buildings with energy-efficient thermal systems, to installing environmental air filtration systems designed to ensure a secure work environment for government staff overseas." 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. AMERIFIRST FINANCIAL: Court OKs $5MM DIP Loan from RCP Credit ------------------------------------------------------------- The U.S. Bankruptcy Court for the District of Delaware authorized AmeriFirst Financial, Inc. and affiliates to use cash collateral and obtain postpetition financing, on an interim basis. The Debtors are permitted to obtain postpetition financing from RCP Credit Opportunities Fund Loan SPV (Fund III), L.P. and RCP Customized Credit Fund (Fund IV-A), L.P. consisting of a senior secured, superpriority term loan facility in the principal amount of up to $5 million to be used for general liquidity purposes, including the of administrative expenses and estate professional fees, as described in the Binding DIP Term Sheet, dated August 28, 2023, by and among the DIP Lenders, as lenders, RCP Credit Opportunities Fund Loan SPV (Fund III), L.P., as agent, and AmeriFirst, as borrower, of which amount $2.775 million will be available on an interim basis. The DIP Loans will mature on the earliest of: (i) November 30, 2023; (ii) the effective date or the date of the substantial consummation (as defined in 11 U.S.C. section 1102(2)) of a Plan of Reorganization that has been confirmed by an order of the Bankruptcy Court; (iii) the date the Bankruptcy Court orders the conversion of the Chapter 11 Case of the Debtor or the chapter 11 case of Phoenix 1040, LLC to a liquidation under Chapter 7 of the Bankruptcy Code; (iv) the date of consummation of a sale or other disposition of all or substantially all of the assets of the Debtor under 11 U.S.C. section 363 or otherwise; (v) the date the Bankruptcy Court orders the dismissal of the Chapter 11 Case or the chapter 11 case of Phoenix 1040, LLC; (vi) the date of acceleration of the DIP Loans, including as a result of the occurrence and continuance of an Event of Default; and (vii) the date that is 35 calendar days after the Petition Date if the Final Order will not have been entered by such date. An immediate and ongoing need exists for AmeriFirst to obtain the DIP Loans in order to permit, among other things, the orderly operation of its business and the satisfaction of administrative expense claims. AmeriFirst does not have sufficient available resources of working capital to maintain its assets without postpetition financing. AmeriFirst's ability to maintain going concern value is essential to its preservation of the value of its assets for the benefit of all stakeholders. Pursuant to the Amended and Restated Credit and Security Agreement, dated as of May 15, 2023 among (a) AmeriFirst Financial, Inc., as borrower, (b) RCP Credit Opportunities Fund Loan SPV (Fund III), L.P., as agent, (c) RCP Credit Opportunities Fund Loan SPV (Fund III), L.P. and RCP Customized Credit Fund (Fund IV-A), L.P. as lenders, the Prepetition Borrower incurred "Obligations" and the Prepetition Borrower is indebted to the Prepetition Secured Parties as set forth in the Prepetition Credit Facility. As of the Petition Date, the Prepetition Borrower was indebted to the Prepetition Secured Parties for not less than $15.798 million in outstanding principal amount of Loans. As adequate protection for the use of cash collateral, the Prepetition Lenders valid, binding, properly perfected, enforceable, non-avoidable first priority Prepetition Liens on the Prepetition Collateral, subject only to any liens permitted by the Prepetition Loan Documents to be senior to the Prepetition Liens. The Prepetition Lenders will be granted allowed superpriority administrative expense claims against AmeriFirst (without the need to file any proof of claim) on account of the Prepetition Lenders' Diminution in Value (if any) under section 507(b) of the Bankruptcy Code, which the Prepetition Lender 507(b) Claims will be payable from and have recourse to all DIP Collateral and all proceeds thereof. A final hearing on the matter is set for September 18, 2023 at 2 p.m. A copy of the order is available at https://urlcurt.com/u?l=I5djRL from PacerMonitor.com. About AmeriFirst Financial Inc. AmeriFirst Financial Inc. is a mid-sized independent mortgage company. AmeriFirst Financial sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Case No. 23-11240) on Aug. 24, 2023. In the petition filed by T. Scott Avila, as chief restructuring officer, the Debtor reports estimated assets and liabilities between $50 million and $100 million each. The Honorable Bankruptcy Judge Thomas M. Horan oversees the case. Laura Davis Jones, Esq., at PACHULSKI STANG ZIEHL & JONES LLP, is the Debtors' counsel. AN GLOBAL: Court OKs $119MM DIP Loan from Blue Torch ---------------------------------------------------- The U.S. Bankruptcy Court for the District of Delaware authorized AN Global LLC, AgileThought, Inc., and their debtor-affiliates to use cash collateral and obtain postpetition financing, on an interim basis. The Debtors obtained a superpriority senior secured multiple-draw term loan facility in an aggregate principal amount of not less than $119.8 million, which consists of (i) a new money multi-draw term loan facility in an aggregate principal amount of $22.7 million to be funded by certain Prepetition First Lien Lenders, and (ii) upon entry of a Final Order, a deemed term loan "roll-up" post-petition financing of $96 million, the full amount of the Prepetition First Lien Obligations. The Debtors are permitted to borrow up to an aggregate principal amount of $11.2 million in New Money DIP Loans, on an interim basis. Blue Torch Finance LLC is the administrative agent and collateral agent under the DIP Agreement. It is also the administrative agent and collateral agent under a prepetition first lien facility. Unless converted to New First Priority Takeback Term Loans or repaid in cash on the Plan Effective Date, in each case as set forth in the Plan, all obligations under the DIP Loan Documents will be due and payable in full in cash on the earliest of: (a) The date that is 12 months after the Petition Date; (b) 50 calendar days after the Petition Date if the Final Order has not been entered by such date; (c) The date of acceleration of such obligations in accordance with the DIP Credit Agreement and the other DIP Loan Documents; (d) The effective date of any plan of reorganization or liquidation in the Chapter 11 Cases; (e) The date on which the sale of all or substantially all of the Debtors' assets is consummated; (f) The date on which termination of the RSA occurs; (g) The date the Bankruptcy Court converts any of the Chapter 11 Cases to a case under chapter 7 of the Bankruptcy Code; (h) The date the Bankruptcy Court dismisses any of the Chapter 11 Cases; (i) The date an order is entered in any Chapter 11 Case appointing a Chapter 11 trustee or examiner with enlarged powers; and (j) Other customary circumstances to be mutually agreed. The Debtors are required to comply with these milestones: 1. No later than 3 business days after the Petition Date, the Bankruptcy Court will have entered the Interim Order; 2. No later than 50 days after the Petition Date, the Bankruptcy Court will have entered the Final Order; 3. No later than 50 days after the Petition Date, the Bankruptcy Court will have entered an order confirming a plan of reorganization that is in form and substance reasonably acceptable to the Required DIP Lenders and approving the related disclosure statement; provided that the Plan will constitute an Acceptable Plan; and 4. No later than 90 days after the Petition Date, the effective date of the Acceptable Plan will have occurred. As of the Petition Date, the Debtors have approximately $112 million of secured indebtedness. This includes not less than $97.182 million in prepetition first lien obligations that include not less than $95.937 million in principal amounts of term loans advanced under the Prepetition 1L Credit Agreement along with fees and premiums, plus no less than $1.244 million on account of accrued and unpaid interest thereon prior to the Petition Date, plus all other fees, costs, expenses, indemnification obligations, reimbursement obligations, charges, premiums, if any, additional interest, any other "Obligations." The Debtors also owe $13 million in outstanding amount under a prepetition second lien credit facility with a lending syndicate led by GLAS Americas LLC as collateral agent and GLAS USA LLC, as administrative agent. This amount includes $10 million under a Tranche B facility held by Nexxus Capital Private Equity Fund VI, L.P. Prior to the commencement of the Chapter 11 Cases, the Prepetition 1L Agent and the GLAS entities entered into an Intercreditor Agreement dated as of May 27, 2022, which sets forth the respective rights, obligations and priorities of the liens and security interests of Prepetition 1L Agent and the Prepetition 1L Lenders on the one hand, and the Prepetition 2L Collateral Agent and Prepetition 2L Lenders, on the other hand, with respect to the Collateral and the obligations of Borrower and Guarantors party thereto due to the Prepetition 1L Agent and the Prepetition 1L Lenders, on the one hand, and the Prepetition 2L Collateral Agent and Prepetition 2L Lenders, on the other hand. On June 24, 2021, Debtor AgileThought, Inc. entered into a Subordinated Promissory Note with AGS Group LLC, pursuant to which AgileThought, Inc. incurred indebtedness to AGS Group in an aggregate principal amount equal to $673,000. As of the Petition Date, AgileThought, Inc.'s obligations under the AGS Subordinated Promissory Note remain outstanding. On July 26, 2021, Debtor AgileThought Digital Solutions, S.A.P.I. de C.V. entered into a Simple Loan Facility Agreement and related promissory note with Exitus Capital, S.A.P.I. de C.V. in an aggregate principal amount equal to $3.7 million. The Exitus Subordinated Note matured on July 27, 2023. Debtor AgileThought, Inc. agreed to issue and pledge 1,207,712 shares of common stock, valued at approximately $5.2 million (approximately twice the then-current outstanding principal and interest owed under the Exitus Subordinated Note), in favor of Exitus to serve as collateral for AgileThought Digital Solutions, S.A.P.I. de C.V.'s obligations under the Exitus Subordinated Note. However, pursuant to the Prepetition 1L Credit Agreement and the Prepetition 2L Credit Agreement, AgileThought Digital Solutions, S.A.P.I. de C.V. could only repay the Exitus Subordinated Note if the Debtors made certain scheduled repayments under the Prepetition 1L Credit Facility. The Debtors did not make the required Prepetition 1L Credit Facility payments and were therefore unable to repay the Exitus Subordinated Note on the July 27, 2023 maturity date. 18. As of the Petition Date, AgileThought Digital Solutions, S.A.P.I. de C.V.'s obligations under the Exitus Subordinated Note remain outstanding in the total amount of $1.6 million. On November 12, 2018, certain of the Debtors entered into a credit agreement, under which Monroe Capital Management Advisors, LLC served as administrative agent for the lenders. The Prior Credit Agreement provided for a $5 million revolving credit facility and a $98 million term loan facility. The principal of the Prior Credit Facility was paid off on May 27, 2022. On December 29, 2021, Debtor AgileThought, Inc. agreed to issue and pledge 4,439,333 shares of common stock in favor of Monroe Capital to serve as collateral for the Debtors' obligations under the Prior Credit Facility. Monroe Capital still holds 2,016,129 shares as collateral for the Debtors' obligation to pay approximately $3.5 million in deferred fees, payable on or before May 25, 2023, which remain unpaid. The Debtors have been in default under the Prepetition 1L Credit Agreement since December 31, 2022. These defaults include or have included, without limitation, failure to pay interests when due, failure to comply with certain negative covenants, and failure to comply with various financial covenants. On April 18, 2023, the Prepetition 1L Agent issued a Notice of Default with respect to these defaults. The defaults under the Prepetition 1L Credit Agreement triggered cross-defaults under the Prepetition 2L Credit Facility and the Exitus Subordinated Note. On August 25, 2023, the Prepetition 1L Agent and the Prepetition 1L Lenders delivered a "Notice of Acceleration and Demand for Immediate Payment" to Debtor AN Global LLC. The Acceleration Notice noted the existence of numerous events of default under the Prepetition 1L Credit Agreement, and declared the unpaid principal amount of all outstanding Prepetition 1L Obligations under the Prepetition 1L Documents to be immediately due and payable. The Acceleration Notice provided that the Prepetition 1L Obligations "are not less than $93.64 million and there are certain other amounts owing under the Financing Agreement . . . including fees of the Agents, FTI, and counsel for each Agent and each Lender." The Debtors do not dispute the existence of various events of default or the Prepetition 1L Agent's or Prepetition 1L Lenders' right to accelerate the obligations under the Prepetition 1L Credit Facility. The Debtors have an immediate need to obtain the DIP Facility and to use the cash collateral in each case on an interim basis to among other things: (i) permit the orderly continuation of their respective businesses; (ii) maintain business relationships with their vendors, suppliers, customers, and other parties; (iii) make payroll and honor other obligations to employees; (iv) make capital expenditures; (v) make adequate protection payments; and (vi) pay the costs of the administration of the Chapter 11 Cases and satisfy other working capital and general corporate purposes of the Debtors. As adequate protection of their interests in the Prepetition Collateral, the Prepetition 1L Agent, for the benefit of themselves and the Prepetition 1L Lenders are granted automatically perfected postpetition security interests in, and liens on, as of the date of the Interim Order. As further adequate protection, and to the extent provided by 11 U.S.C. sections 503(b) and 507(b), an allowed administrative expense claim in the Chapter 11 Cases to the extent of any postpetition Diminution in Value ahead of and senior to any and all other administrative expense claims in such Chapter 11 Cases, except the Carve Out and the DIP Superpriority Claims. The "Carve Out" means the sum of: (i) all fees required to be paid to the Clerk of the Court and to the Office of the U.S. Trustee under 28 U.S.C. section 1930(a) plus interest at the statutory rate; (ii) all reasonable fees and expenses up to $25,000 incurred by a trustee under Bankruptcy Code section 726(b); (iii) to the extent allowed, all unpaid fees and expenses incurred by bankruptcy professionals retained in the cases. The carved out professional fees will include up to $2.5 million on account of amounts required to be paid to Guggenheim Securities, LLC on account of any Transaction Fee under and as defined in the engagement letter between Guggenheim Securities and the Debtors, effective as of August 11, 2023. The Debtors' authorization to use cash collateral and the proceeds of the DIP Facility will automatically terminate, and the DIP Obligations will become due and payable, without further notice or action by the Bankruptcy Court following the earliest to occur of any of the following: (a) the occurrence of an Event of Default; and (b) the Debtors' failure to (i) comply with any provision of the Interim Order, (ii) comply with any other covenant or agreement specified in the Interim Order or the DIP Credit Agreement (which covenants and agreements, together with any applicable grace periods, are explicitly incorporated by reference into this Interim Order), or (iii) comply with any of the milestones set forth in Schedule 7.01(x) of the DIP Credit Agreement; or (c) the occurrence of the Maturity Date. A final hearing on the matter is set for September 22, 2023 at 11 a.m. A copy of the order is available at https://urlcurt.com/u?l=MotjmN from PacerMonitor.com. About AN Global LLC AN Global LLC and affiliates are global providers of agile-first, end-to-end digital transformation services in the North American market using on-shore and near-shore delivery. The Company helps its clients transform by building, improving and running new solutions at scale. The Debtors operate their business through ten "Guilds," which act as agencies within the Company. The Debtors sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 23-11294) on August 28, 2023. In the petition signed by James S. Feltman, chief restructuring officer, the Debtor disclosed up to $500 million in both assets and liabilities. Judge J. Kate Stickles oversees the case, The Debtors tapped Potter Anderson & Corron LLP and Hughes Hubbard & Reed LLP as co-general bankruptcy counsel. Garrigues Mexico, S.C. is the general Mexican restructuring counsel, Teneo Capital LLC as financial advisor, Guggenheim Securities, LLC as investment banker, and Kurtzman Carson Consultants LLC as claims, noticing and balloting agent. Blue Torch Finance LLC is the administrative agent and collateral agent under the DIP Agreement. It is also the administrative agent and collateral agent under a prepetition first lien facility. Ropes & Gray, LLP and Chipman Brown Cicero & Cole, LLP serve as counsel to the Prepetition 1L Agent. ARUZE GAMING: Gets OK to Sell Vehicles to Interblock for $246,000 ----------------------------------------------------------------- Aruze Gaming America, Inc. received approval from the U.S. Bankruptcy Court for the District of Nevada to sell eight motor vehicles to Interblock USA, L.C. The vehicles will be sold for $245,915, "free and clear" of all liens, claims and encumbrances. As part of the sale, Aruze will assign and transfer to Interblock all rights to insurance claims, or the proceeds thereof, for damages. About Aruze Gaming America Las Vegas-based Aruze Gaming America, Inc. designs, develops and manufactures gaming machines. Aruze Gaming America sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Nev. Case No. 23-10356) on Feb. 1, 2023. In the petition signed by its chief executive officer, Yugo Kinoshita, the Debtor disclosed up to $10 million in assets and up to $50 million in liabilities. The bankruptcy filing is a part of Aruze's efforts to seek financial restructuring in the wake of a recent garnishment judgment against Aruze resulting from a separate judgment against Aruze's shareholder. Judge August B. Landis oversees the case. The Debtor tapped Matthew C. Zirzow, Esq., at Larson & Zirzow, LLC as legal counsel and Withum Smith+Brown, PC as tax accountant. The U.S. Trustee for Region 17 appointed an official committee to represent unsecured creditors in the Debtor's Chapter 11 case. The committee tapped Schwartz Law, PLLC and Sheppard, Mullin, Richter & Hampton LLP as legal counsels, and Province, LLC as financial advisor. AVENIR KNOXVILLE: No Patient Care Concern, 2nd PCO Report Says -------------------------------------------------------------- Teresa Teeple, the patient care ombudsman, filed with the U.S. Bankruptcy Court for the District of Arizona her report regarding the quality of patient care provided at Avenir Memory Care @ Knoxville, LP's assisted care living facility. The PCO directed a representative of her office, District Ombudsman Thomas Kahler, and his staff, Rachel Crider, to make frequent visits to this facility. During his visit on June 20, Mr. Kahler was met with eight staff, three family visitors, and 27 residents. The majority of residents were either listening or participating in sing-alongs with the activity's director, and others were learning about historical and current facts. As he spoke with the residents, Mr. Kahler was told that they had no concerns with the facility or staff and were complementary of the resident care. During the visit on July 7, Mr. Kahler and Ms. Crider visited with 30 residents, three families, and 12 staff. They were there at lunch and observed the meal. The staff were very attentive to the residents that needed assistance eating. The residents they spoke to all confirmed they had enjoyed their meals. Neither the executive director nor the director of nursing was present. Mr. Kahler spoke with three residents in an adjoining common area, and each said the staff took very good care of their needs. From Kahler's perspective, staff were very involved with residents, and it appears the home has the resources to continue providing residents with a good quality of care. A copy of the ombudsman report is available for free at https://urlcurt.com/u?l=sC7PwZ from PacerMonitor.com. About Avenir Memory Care @ Knoxville Avenir Memory Care @ Knoxville, LP operates a nursing care facility in Scottsdale, Ariz. Avenir Memory Care @ Knoxville filed its voluntary Chapter 11 petition (Bankr. D. Ariz. Case No. 23-02047) on March 31, 2023, with $10 million to $50 million in both assets and liabilities. David L. Craik, president and director of the General and Limited Partners, signed the petition. Judge Brenda Moody Whinery oversees the case. Philip R. Rudd, Esq., at Sacks Tierney, P.A. represents the Debtor as counsel. AVENTIS SYSTEMS: Court OKs Cash Collateral Access Thru Dec 31 ------------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Georgia, Atlanta Division, authorized Aventis Systems, Inc. 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 to meet its ordinary operating expenses and to continue its business operations. The Debtor's first position secured lender is allegedly Funding Circle/FC Marketplace, LLC, which, through counsel, filed a proof of claim No. 28-1 for $18,631.98, consisting of $17,793 in principal, $538 in interest, and $300 in fees. FC has also sought adequate protection payments. Given the size of FC's claim, the 17 percent interest rate and FC's first lien position, the Debtor believes in its business judgment that the administrative burden of adequate protection payments does not justify making such payments and seeks authority to pay the FC Claim in full, subject to an appropriate reduction for a stay violation by FC. The stay violation occurred when, after the petition date, FC's collections department made repeated demands to the Debtor that it reduce the outstanding balance or be subject to fees and penalties. The Cash Collateral Order authorized the Debtor to pay in full the claim of Amazon Capital Services, Inc., which was allegedly the second position secured lender as of the petition date. ACS is now paid in full and terminated its UCC-1. Accordingly, adequate protection to ACS is no longer required. The Cash Collateral Order further required the Debtor to make interest only adequate protection payments to United Community Bank, its alleged third position secured lender as of the Petition Date. The Debtor made the required payments to UCB and proposes to continue making the interest payments pursuant to a new cash collateral order. The Debtor also proposes to make principal payments to UCB equal to one half of its positive cash flow after payment of its expenses. As part of this arrangement, Debtor will also agree that the minimum principal reduction in September will be $35,000 irrespective of its cash flow, and that the minimum principal reduction in October, November and December will be $50,000 irrespective of its cash flow. Debtor also proposes to pay to UCB an amount equal to the sale proceeds (after payment of any expenses) of two vehicles that the Court recently authorized it to sell. In addition to FC, ACS and UCB, the Debtor has borrowed from a variety of sources to obtain inventory to sell to its customers, related to which said lenders may have a lien on the Debtor's cash collateral and have recorded UCC Financing Statements in the following date order from earliest to latest: PayPal/Swift Financial, LLC, Ouiby Inc. d/b/a Kickfurther, Centra Funding, First Citizens Bank & Trust Company d/b/a CIT, and 8fig, Inc. Further, the Debtor signed documents with several merchant cash advance companies, which have recorded UCC-1s in the following date order from earliest to latest date: Fox Capital Group, Inc., Cedar Advance, LLC, Skyinance, Inc., Diverse Capital, LLC, and Zahav Asset Management, LLC. Fox was the first MCA to record a UCC-1 and it was recorded after FC, Amazon, UCB and Paypal. Pursuant to the Lenders’ contractual agreements with Debtor, the Lenders may have been granted a security interest in all of Debtor's assets. The court ruled to the extent the Debtor uses cash collateral, the Secured Parties are granted valid, attached, choate, enforceable, perfected, and continuing security interests in, and liens upon all post-petition assets of the Debtor. The Secured Parties' security interests in, and liens upon, the PostPetition Collateral will have the same validity as existed between the Secured Parties, the Debtor, ,and all other creditors or claimants against the Debtor's estate on the Petition Date. As additional adequate protection to UCB, and in accordance with the budget, Debtor will make adequate protection payments to UCB of the following (a) on or before September 19, 2023 and September 25, 2023, the Debtor will pay UCB the amount of accrued unpaid interest at the non-default contractual rate on the respective Notes which total approximately $25,000 per month as and when due in accordance with the Loan Documents, (b) on or before the last business day of each month commencing on September 29, 2023 and continuing on the last business day of each subsequent month, the Debtor will pay UCB principal payments equal to one half of the Debtor's positive cash flow after payment of its expenses, with a minimum principal payment irrespective of Debtor's cash flow of $35,000 in September 2023 and $50,000 in October, November and December 2023. Secured Parties will hold allowed administrative claims under 11 U.S.C. Section 507(b) with respect to the adequate protection obligations of the Debtor to the extent that the replacement liens on Post-Petition Collateral do not adequately protect the diminution in value of the interests of Secured Parties in their prepetition collateral. A copy of the court's order and the Debtor's budget is available at https://urlcurt.com/u?l=flP7ux from PacerMonitor.com. The Debtor projects total operating expenses, on a monthly basis, as follows: $1.9 million for September 2023; $1.9 million for October 2023; $1.9 million for November 2023; and $1.9 million for December 2023. About Aventis Systems, Inc. Aventis Systems, Inc., a company in Atlanta, offers custom IT solutions to build and operate complete physical and virtual infrastructures. The comprehensive solutions include refurbished and new hardware, system and application software, and an array of in-depth managed services including infrastructure consultation, cloud hosting and migration, virtualization deployment, data and disaster recovery, security consultation, hardware relocation, and equipment buyback. Aventis Systems and affiliate, Cortavo, Inc., sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Lead Case No. 23-51162) on Feb. 6, 2023. In the petition signed by its chief executive officer, Hessam Lamei, Aventis Systems disclosed up to $50 million in assets and up to $10 million in liabilities. Judge Lisa Ritchey Craig oversees the cases. The Debtors tapped Anna Humnicky, Esq., at Small Herrin, LLP as bankruptcy counsel; AI Law as special counsel; and Nichols, Cauley & Associates, LLC as accountant. AVERY ASPHALT: Oct. 25 Disclosure Statement Hearing Set ------------------------------------------------------- Judge Michael E. Romero has entered an order within which October 25, 2023, in Courtroom C, U.S. Bankruptcy Court, U.S. Custom House, 721 19th Street, Denver, Colorado is the hearing to consider the adequacy of and to approve the Disclosure Statement of Avery Asphalt, Inc., et al. Judge Romero further ordered that October 4, 2023 is fixed as the last day to file and serve objections to the Disclosure Statement. A copy of the order dated August 29, 2023 is available at https://urlcurt.com/u?l=gzNAne from PacerMonitor.com at no charge. Attorneys for the Debtors: David J. Warner, Esq. WADSWORTH GARBER WARNER CONRARDY, P.C. 2580 West Main Street, Suite 200 Littleton, CO 80120 Tel: (303) 296-1999 About Avery Asphalt Avery Asphalt, Inc. is the main operating company and installs, maintains, and improves roadways, parking lots, and other outdoor surfaces. Its affiliates, Avery Equipment, LLC and Avery Holdings, LLC, own the equipment and real estate used in its business, respectively. Another affiliate, LBLA Ventures, Inc. is the holding company for a non-operating Arizona asphalt company while 1401 S. 22nd Ave., LLC owns the real estate that was formerly used by Regional Pavement Maintenance of Arizona, Inc. in its business. The Debtors sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Colo. Lead Case No. 21-10799) on Feb. 19, 2021, with up to $50,000 in assets and up to $10 million in liabilities. The bankruptcy was filed after a receiver was appointed for all the Debtors. The receivership hampered Avery Asphalt's ability to operate profitably. Judge Michael E. Romero oversees the cases. David J. Warner, Esq., at Wadsworth Garber Warner Conrardy, P.C. and the Law Offices of Lars Fuller, PC serve as the Debtor's bankruptcy counsel and special counsel, respectively. BENITAGO INC: Seeks Cash Collateral Access ------------------------------------------ Benitago, Inc. and affiliates ask the U.S. Bankruptcy Court for the Southern District of New York for authority to use cash collateral and provide adequate protection. The Debtors expect that, through cash on hand as of the Petition Date and cashflow generated from their operations, they will be able to fund the Chapter 11 Cases to a successful conclusion, including the proposed sale of Acrux and the Acrux Subsidiaries and related Acrux inventory owned by Benitago, the Parent. The Parent's only secured creditor is SellersFunding, which the Debtors believe is substantially oversecured and has indicated that it will likely support the Debtors' use of its cash collateral, subject to payment of postpetition interest and expenses consistent with 11 U.S.C. Section 506. Parent, however, produces and provides all of the inventory related to Acrux and the Acrux Subsidiaries and provides all services. Prior to the Petition Date, Parent entered into an Interim Sales and Services Agreement, dated August 23, 2023 with the Special Manager for Acrux and the Acrux Subsidiaries memorializing the Parent's provision of the foregoing inventory and services. Pursuant to the Intercompany Agreement, Parent will continue to provide Acrux and the Acrux Subsidiaries with inventory and services at cost, pursuant to an allocation report prepared by the Debtors' financial advisors. Because Acrux and the Acrux Subsidiaries are unable to support their business operations without the support of the Parent, Acrux and the Acrux Subsidiaries require access to the cash collateral of CoVenture in order to pay amounts owed to the Parent to continue to receive the benefit of inventory and services provided by the Parent. By continuing to perform under the Intercompany Agreement, pending closing of the sale, CoVenture is adequately protected by the enhancement of the value of its collateral. On March 12, 2021, Parent entered into that certain Revolving Loan Agreement with SellersFunding International Portfolio Ltd., as lender. The Parent Loan Agreement provides for a revolving loan facility with an initial commitment of more than $2 million, subject to quarterly upward adjustments. The interest rate under the Parent Loan Agreement is 12% per year. On December 23, 2021, Benitago Inc. and SellersFunding entered into the Amendment No. 2 to the Parent Loan Agreement increasing the commitment amount under the Parent Loan Agreement to $8 million and extending the maturity date to January 16, 2025. Parent's obligations under the Parent Loan Agreement are secured by the Parent's assets other than (i) the Parent's equity in certain subsidiaries which is pledged under the CoVenture Loan Agreement as described below and equity interests in any subsidiaries of Acrux and (ii) any assets of such subsidiaries. As of the Petition Date, the total amount outstanding under the Parent Loan Agreement is approximately $9.6 million. On February 26, 2021, Parent, as the Originator and Servicer, and Acrux, as the Borrower, entered into the Loan and Servicing Agreement with CoVenture - Bento Credit Opportunities GP, LLC, as Deal Agent the lenders party thereto from time to time. The CoVenture Loan Agreement provided for initial commitments for a delayed draw term loan facility originally in the amount of $25 million, which was upsized to $50 million on June 24, 2021, and then to $150 million on November 12, 2021, in each case subject to the satisfaction of certain conditions. As of the Petition Date, the total amount outstanding under the CoVenture Loan Agreement is approximately $85.4 million, which consists of approximately $73.8 million in principal and $11.7 million of deferred interest pursuant to various waivers and forbearance agreements described in the First Day Declarations. Based on the value of the SellersFunding Collateral, the Debtors believe that SellersFunding is substantially oversecured--the value of the cash on hand in the Parent’s bank accounts (approximately $6.6 million, together with the value of inventory owned by Parent (approximately $17 million), substantially exceeds the outstanding amount owed to SellersFunding (approximately $9.6 million). Furthermore, neither SellersFunding nor CoVenture will experience a decline in the value of their respective collateral if the Debtors continue to operate their business as they have prior to the Petition Date, which will preserve and enhance the value of these assets. The Debtors are proposing that SellersFunding will receive ongoing postpetition payments of interest and fees consistent with the Parent Loan Agreement on account of its oversecured status. The Debtors will provide both SellersFunding and CoVenture with updated Budgets and reporting so that they may monitor the Debtors' business. With respect to CoVenture, the Debtors propose that all proceeds of the sale of its collateral after the Petition Date—the Inorganic Brands through Acrux and the Acrux Subsidiaries—will be held in the Acrux Escrow consistent with 11 U.S.C. section 363(c)(4) pending entry of the Proposed Order. The Debtors will have the right to use cash collateral until the occurrence of a Termination Event: (a) subject to the delivery of a Termination Notice and the expiration of the time periods with respect thereto, the failure of the Debtors to abide by the material terms, covenants, and conditions of the Proposed Order; provided that a Termination Event invoked by SellersFunding or CoVenture will not restrict or prohibit the Debtors from continuing to use the cash collateral of either SellersFunding or CoVenture, as applicable, that did not send a Termination Notice; (b) the dismissal of any of these Chapter 11 Cases, the conversion of any of these Chapter 11 Cases to a case under chapter 7 of the Bankruptcy Code, or the appointment of a trustee or examiner with expanded powers; or (c) an order of the Court is entered (other than a final order with respect to the Motion) reversing, staying, vacating, or otherwise modifying in any material respect the terms of the Proposed Order. A copy of the motion is available at https://urlcurt.com/u?l=v2V8cF from PacerMonitor.com. About Benitago Inc. Benitago Inc. operates an e-commerce aggregator platform intended to create, acquire and grow businesses. The Debtor and affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. N.Y. Lead Case No. 23-11394) on August 30, 2023. In the petition signed by Thomas Studebaker, chief restructuring officer, the Debtor disclosed up to $100 million in both assets and liabilities. Kyle J. Ortiz, Esq., at Togut Segal & Segal LLP, represents the Debtors as legal counsel. The Debtors tapped Portage Point Partners as financial advisor and Stretto Inc. as notice, claims, and balloting agent. BERTRAMS PAINTING: Hires Van Horn Law Group PA as Counsel --------------------------------------------------------- Bertrams Painting Services, Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Van Horn Law Group, PA as counsel. The firm will render these legal services: (a) advise the Debtor regarding its powers and duties in the continued management of its business operations; (b) advise the Debtor regarding its responsibilities in complying with the U.S. Trustee's Operating Guidelines and Reporting Requirements and with the rules of the court; (c) prepare legal papers; (d) protect the interest of the Debtor in all matters pending before the court; (e) represent the Debtor in negotiation with its creditors in the preparation of a plan. The firm's hourly rates range from $150 to $450 per hour for law clerks, paralegals, and attorneys. The Debtor paid the firm a retainer of $8,738. In addition, the firm will seek reimbursement for expenses incurred. Chad Van Horn, Esq., at Van Horn Law Group, disclosed in a court filing that his firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Chad Van Horn, Esq. VAN HORN LAW GROUP, PA 330 North Andrews Avenue, Suite 450 Fort Lauderdale, FL 33301 Tel: (954) 637-0000 Email: chad@cvhlawgroup.com About Bertrams Painting Services, Inc. Bertrams Painting Services Inc. in Fort Lauderdale, FL, filed its voluntary petition for Chapter 11 protection (Bankr. S.D. Fla. Case No. 23-16418) on August 15, 2023, listing $2,463,550 in assets and $2,279,441 in liabilities. Camiel Bertram as president, signed the petition. Judge Peter D. Russin oversees the case. VAN HORN LAW GROUP, P.A. serve as the Debtor's legal counsel. BISHOP OF OAKLAND: Seeks to Extend Plan Exclusivity to January 5 ---------------------------------------------------------------- The Roman Catholic Bishop of Oakland asks the U.S. Bankruptcy Court for the Northern District of California to extend its exclusive periods to file and solicit acceptance of a chapter 11 plan to January 5, 2024 and March 4, 2024, respectively. Unless modified by the Court, the Debtor's exclusive filing period expires on September 5, 2023, and its exclusive solicitation period expires on November 4, 2023. The Debtor claims that it has made significant progress during the initial months of its chapter 11 case. The Debtor stated that, among many other things, it has obtained first day relief necessary to protect its assets and stabilize its operations, timely filed its schedules and statement of financial affairs without the need for an extension, filed motions for additional relief needed in the early stages of the case, provided extensive information to the U.S. Trustee, attended and completed the initial debtor interview and the initial meeting of creditors, and engaged extensively with the official Committee of Unsecured Creditors. The Debtor explained, however, that it needs additional time to evaluate how a plan can best be structured and negotiated with the Committee and other constituencies. The Debtor further stated that additional time is also needed to liquidate its claims against their historical insurance carriers in an adversary proceeding filed in its chapter 11 case, which it believes will materially increase the assets available to satisfy claims. The Roman Catholic Bishop of Oakland is represented by: Jeffrey R. Blease, Esq. Thomas F. Carlucci, Esq. Shane J. Moses, Esq. Emil P. Khatchatourian, Esq. Ann Marie Uetz, Esq. Matthew D. Lee, Esq. FOLEY & LARDNER LLP 555 California Street, Suite 1700 San Francisco, CA 94104-1520 Email: jblease@foley.com tcarlucci@foley.com smoses@foley.com ekhatchatourian@foley.com auetz@foley.com mdlee@foley.com About The Roman Catholic Bishop of Oakland The Roman Catholic Bishop of Oakland, a tax-exempt religious organization, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 23-40523) on May 8, 2023. In the petition signed by Bishop Michael Charles Barber, the Debtor disclosed $100 million to $500 million in both assets and liabilities. Judge William J. Lafferty oversees the case. The Debtor tapped Foley & Lardner LLP as legal counsel and Alvarez & Marsal North America, LLC as restructuring advisor. Kurtzman Carson Consultants LLC is the Debtors' claims and noticing agent and administrative advisor. The U.S. Trustee for Region 17 appointed an official committee to represent unsecured creditors in the Debtor's Chapter 11 case. The committee tapped Lowenstein Sandler, LLP as bankruptcy counsel; Burns Bair LLP as special insurance counsel; and Berkeley Research Group, LLC as financial advisor. BITNILE METAVERSE: Board OKs Zest Labs Spin-Off ----------------------------------------------- The board of directors of BitNile Metaverse, Inc. approved a spin-off of the Company's wholly owned subsidiary Zest Labs, Inc. Pursuant to a stock purchase agreement, the Company has agreed to sell all its outstanding shares of Zest Labs to Zest Labs Holdings, LLC, a new entity specifically created for this spin-off. The purpose of Zest Holdings is to preserve and monetize ongoing lawsuits involving Zest Labs, as of Nov. 15, 2022, including Zest Labs' lawsuit against Walmart, Inc. The Transaction is also intended to fulfill the Company's previous commitment to spin-off Zest Labs to those shareholders who held the Company's common stock as of Nov. 15, 2022. After the Pending Litigation is settled or adjudicated, Zest Holdings is required to distribute a minimum of 95% of the net proceeds to the Record Date Holders. Additionally, the Board highlighted that the Transaction would alleviate the Company of roughly $800,000 in liabilities related to the Pending Litigation. About BitNile Metaverse Founded in 2011, BitNile Metaverse (formerly Ecoark Holdings, Inc.) -- is a holding company, incorporated in the State of Nevada on November 19, 2007. Through March 31, 2023, the Company's former wholly owned subsidiaries with the exception of Agora Digital Holdings, Inc., a Nevada corporation, and Zest Labs, Inc., a Nevada corporation, have been treated for accounting purposes as divested. The Company's principal subsidiaries consisted of (a) BitNile.com, Inc., a Nevada corporation, which includes the platform BitNile.com and that was acquired by the Company on March 6, 2023, which transaction has been reflected as an asset purchase, and (b) Ecoark, Inc., a Delaware corporation that is the parent of Zest Labs and Agora. BitNile Metaverse reported a net loss of $87.36 million on zero revenue for the year ended March 31, 2023, compared to a net loss of $10.55 million on $27,182 of revenues for the year ended March 31, 2022. As of March 31, 2023, the Company had $23.77 million in total assets, $37.72 million in total liabilities, and a total stockholders' deficit of $13.94 million. New York, New York-based RBSM LLP, the Company's auditor since 2019, issued a "going concern" qualification in its report dated July 14, 2023, citing that the Company has suffered recurring losses from operations and had an accumulated deficit that raises substantial doubt about its ability to continue as a going concern. BLOCKFI INC: Court Disallows Gerro's Proof of Claim --------------------------------------------------- Bankruptcy Judge Michael B. Kaplan for the District of New Jersey disallows George J. Gerro's Proof of Claim No. 12386 in the amount of 426 bitcoin. Judge Kaplan finds that "bitcoin fits more neatly into the 'general intangible' category under the California Commercial Code. Bitcoin is not something that can be held or moved as contemplated by the definition of 'goods.' Rather, it is 'a form of digital currency based on mathematical algorithms that is not controlled by any country, bank, or individual.'" He concludes that bitcoin does not fit the definition of 'tangible personal property.' BlockFi, Inc. and George J. Gerro entered a prepetition lending relationship through which BlockFi Lending LLC issued a series of loans to Gerro, secured by collateral in the form of bitcoin. The case is captioned as In Re: BlockFi, Inc., Debtors, Case No. 22-19361 (MBK), (Bankr. D.N.J.). A full-text copy of the Memorandum Decision dated August 29, 2023, is available https://urlcurt.com/u?l=zeCjoU. About BlockFi Inc. BlockFi is building a bridge between digital assets and traditional financial and wealth management products to advance the overall digital asset ecosystem for individual and institutional investors. BlockFi was founded in 2017 by Zac Prince and Flori Marquez and in its early days had backing from influential Wall Street investors like Mike Novogratz and, later on, Valar Ventures, a Peter Thiel-backed venture fund as well as Winklevoss Capital, among others. BlockFi made waves in 2019 when it began providing interest-bearing accounts with returns paid in Bitcoin and Ether, with its program attracting millions of dollars in deposits right away. BlockFi grew during the pandemic years and had offices in New York, New Jersey, Singapore, Poland and Argentina. BlockFi worked with FTX US after it took an $80 million hit from the bad debt of crypto hedge fund Three Arrows Capital, which imploded after the TerraUSD stablecoin wipeout in May 2022. BlockFi had significant exposure to the companies founded by former FTX Chief Executive Officer Sam Bankman-Fried. BlockFi received a $400 million credit line from FTX US in an agreement that also gave FTX the option to acquire BlockFi through a bailout orchestrated by Bankman-Fried over the summer. BlockFi also had collateralized loans to Alameda Research, the trading firm co-founded by Bankman-Fried. BlockFi is the latest crypto firm to seek bankruptcy amid a prolonged slump in digital asset prices. Lenders Celsius Network LLC and Voyager Digital Holdings Inc. also filed for court protection this year. Kirkland & Ellis is also advising Celsius and Voyager in their separate Chapter 11 cases. BlockFi Inc. and eight affiliates sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Lead Case No. 22-19361) on Nov. 28, 2022. In the petitions signed by their chief executive officer, Zachary Prince, the Debtors reported $1 billion to $10 billion in both assets and liabilities. Judge Michael B. Kaplan oversees the cases. The Debtors tapped Kirkland & Ellis and Haynes and Boone, LLP as general bankruptcy counsels; Walkers (Bermuda) Limited as special Bermuda counsel; Cole Schotz, P.C., as local counsel; Berkeley Research Group, LLC as financial advisor; Moelis & Company as investment banker; and Street Advisory Group, LLC as strategic and communications advisor. Kroll Restructuring Administration, LLC, is the notice and claims agent. BOXED INC: Seeks to Extend Plan Exclusivity to October 29 --------------------------------------------------------- Boxed, Inc. and its affiliates ask the U.S. Bankruptcy Court for the District of Delaware to extend the periods during which it has the exclusive right to file a chapter 11 plan from July 31, 2023 to October 29, 2023, and to solicit acceptances thereto from September 29, 2023 to December 28, 2023. The Debtors claim that they have made significant progress in moving the cases to a successful wind down of the Debtors operation, including: (a) completing asset sales; (b) rejecting contract, leases and abandoning personal property; (c) preparing and filing the schedules of assets and liabilities and statements of financial affairs for the five Debtors in these jointly administered chapter 11 cases; (d) preparing and filing the Debtors' initial and monthly operating reports; (e) resolving various contested matters; and (f) negotiating with the Committee, Prepetition First Lien Secured Lenders, and the Prepetition First Lien Agent. The Debtors stated that they have worked diligently over the past few months to preserve the value of their assets during the pendency of their chapter 11 cases, and require the extension sought to ensure that they are able to seek confirmation of a chapter 11 plan without any unnecessary distractions that would be caused by competing chapter 11 plans. Boxed, Inc. and its affiliates are represented by: M. Blake Cleary, Esq. Jeremy W. Ryan, Esq. Maria Kotsiras, Esq. Sameen Rizvi, Esq. POTTER ANDERSON & CORROON LLP 1313 North Market Street, 6th Floor Wilmington, DE 19801 Tel: (302) 984-6000 Email: bcleary@potteranderson.com jryan@potteranderson.com mkotsiras@potteranderson.com srizvi@potteranderson.com - and - Madlyn Gleich Primoff, Esq. Scott D. Talmadge, Esq. Alexander Adams Rich, Esq. FRESHFIELDS BRUCKHAUS DERINGER US LLP 601 Lexington Avenue, 31st Floor New York, NY 10022 Tel: (212) 277-4000 Email: madlyn.primoff@freshfields.com scott.talmadge@freshfields.com alexander.rich@freshfields.com About Boxed Inc. Boxed, Inc. (OTCMKTS: BOXDQ) -- http://www.boxed.com/-- is an e-commerce retailer and an e-commerce enabler in New York. It operates an e-commerce retail service that provides bulk pantry consumables to businesses and household customers, without the requirement of a "big-box" store membership. This service is powered by the company's own purpose-built storefront, marketplace, analytics, fulfillment, advertising, and robotics technologies. Boxed further enables e-commerce through its Software & Services business, which offers customers in need of an enterprise-level e-commerce platform access to its end-to-end technology. Boxed and four affiliates sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 23-10397) on April 2, 2023. In the petition signed by its chief executive officer, Chieh Huang, Boxed disclosed $100 million to $500 million in both assets and liabilities. Judge Brendan Linehan Shannon presides over the cases. The Debtors tapped Freshfields Bruckhaus Deringer US, LLP and Potter Anderson & Corroon, LLP as legal counsels; FTI Consulting, Inc. as financial advisor; and Solomon Parners, L.P. as investment banker. Epiq Corporate Restructuring, LLC is the claims and noticing agent and administrative advisor. The U.S. Trustee for Regions 3 and 9 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. Fox Rothschild, LLP and Alvarez & Marsal North America, LLC serve as the committee's legal counsel and financial advisor, respectively. CARBON CONSULTANTS: Seeks Use of Cash Collateral ------------------------------------------------ Carbon Consultants, LLC asks the U.S. Bankruptcy Court for the Eastern District of Washington for authority to use cash collateral and provide adequate protection. The Debtor requires the immediate and continued use of cash collateral to operate and maintain the going concern value of its business operations. Without the use of cash collateral, the Debtor will not have the funds necessary to pay its budgeted expenses, including, wages and other payroll expenses, rents, utilities, insurance, and taxes. KeyBank National Association asserts liens in certain of the Debtor's assets pursuant to various loan agreements, notes, security agreements, and other documents, to secure obligations in the aggregate principal amount of approximately $2.4 million as of the Petition Date. KeyBank's security interests were perfected by a UCC financing statement filed on December 28, 2020 with the Nevada Secretary of State. The UCC Statement provides that KeyBank is secured by certain assets. The estimated value of the KeyBank Collateral is approximately $3.615 million as of the Petition Date. Andrew and Jaime Mack also assert liens in certain of the Debtor's assets pursuant to various loan agreements, notes, security agreements, and other documents, to secure obligations in the aggregate principal amount of approximately $793,000 as of the Petition Date. Macks' security interests were perfected by a UCC financing statement filed on July 14, 2023 with the Nevada Secretary of State. The Macks' UCC Statement provides that Macks are secured by the all of the Debtor's assets. As a whole, the current estimated value of the Mack Collateral is unknown, but is believed to be approximately $1.3M due to the Macks' junior lien position relative to KeyBank. As an initial matter, KeyBank holds an equity cushion of approximately $1.3 million, or approximately 55% (cushion of $1.290 million to secure obligations of approximately $2,325,967). The Debtor also will provide adequate protection to KeyBank and Macks for use of their cash collateral by providing post-petition replacement liens. More specifically, the Debtor proposes to provide replacement liens to KeyBank and Macks in all of the Debtor's assets acquired after the Petition Date of the same type and category, and with the same priority, as their pre-petition liens. Continuity of the Debtor's business as a going concern is critical to maintaining the value of KeyBank's and Macks' collateral, which consists primarily of accounts, inventory, work in process, and equipment as depicted in the Budget. In addition, the Debtor will provide KeyBank with additional adequate protection in the form of monthly adequate protection payments as listed in the Budget consisting of principal and interest that will fully amortize KeyBank's claim over three years as shown in the budget. Finally, the Macks will list their commercial building for sale and will use the net proceeds, estimated at over $1 million after payment of the exiting mortgage and income taxes resulting from the sale, to further pay down the KeyBank obligations. A copy of the motion is available at https://urlcurt.com/u?l=kaEUwV from PacerMonitor.com. About Carbon Consultants, LLC Carbon Consultants, LLC provides architectural, engineering, and related services. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Wash. Case No. 23-01100) on August 30, 2023. In the petition signed by Jaime K. Mack, manager, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Whitman L Holt oversees the case. Thomas W. Stilley, Esq., at Sussman Shank LLP, represents the Debtor as legal counsel. CARING HANDS: Unsecureds Will Get 21.85% of Claims over 60 Month ---------------------------------------------------------------- Caring Hands Home Care, Inc., filed with the U.S. Bankruptcy Court for the District of Minnesota a Plan of Reorganization under Subchapter V dated August 29, 2023. The Debtor has operated a home health care agency since 1994 and currently employs approximately 13 full and part-time employees. The Debtor's services are provided at the client's home or place of residence. The Debtor's office facility is utilized solely for business administration and maintenance of financial and client records. Gary and Patricia Johnson are married individuals who jointly own a 100% interest in the Debtor and, thus, qualify as insiders of the Debtor. The Debtor filed this bankruptcy case in order to preserve the going concern value, protect unsecured creditors, and restructure its liabilities in accordance with the provisions of the Bankruptcy Code. The Debtor believes it can once again be a viable company if this Plan is approved. Class 1 consists of the secured claim of the IRS. The IRS tax lien acts as a blanket lien on all the Debtor's assets pursuant to the Court's Order, dated June 28, 2023. The Class 1 Claim, in the amount of $86,620.47, plus interest, less any adequate protection payments made prior to the Effective Date, will be paid in full, in cash, starting on the Effective Date, and continuing thereafter on a monthly basis, on the first business day of each calendar month, until said Class 1 Claim is paid in full, as follows: (a) for a period of 60 months from the Effective Date at the annual interest rate of 7.0%, with a principal and interest payment of $1,715.19 per month. Class 2 consists of the allowed general unsecured claims against the Debtor. As of the date hereof, the Debtor estimates the total pool of allowed general unsecured claims to be approximately $150,900.22. In full satisfaction of such claims, each Holder of a Class 2 claim shall receive its pro rata share of an estimated $33,000 ($45,000 less projected professional fees in excess of retainers being held by the professional) over the length of this Plan. Payments to the general unsecured creditors will commence on June 30, 2024, and will continue every six months (payments on June 30 and December 31 of each year) for a period of 60 months from the Effective Date. Each payment will be in the amount of $5,000; provided, however, professional fees shall be paid in full before any Class 2 Claims are paid. The percentage payment to each Class 2 creditor is approximately 21.85%. Class 2 is impaired. Class 3 consists of all allowed equity interests of the Debtor. Equity interest holders are parties who hold an ownership interest in the Debtor. The members of Class 3 are Gary Johnson (50%) and Patricia Johnson (50%). Gary Johnson and Patricia Johnson shall retain their equity interests in the Debtor on the Effective Date. On the Effective Date, all the Debtor's respective rights, title, and interest in and to all assets shall vest in the reorganized Debtor. The Debtor will continue to be managed by Gary Johnson as president and Patricia Johnson as vice president. They receive an aggregate monthly compensation of $5,000. In addition, Gary Johnson is paid $1,500 per month as rent on the Debtor's office building. This chapter 11 plan of reorganization proposes to pay creditors of the Debtor with all of the projected disposable income of the Debtor for a 60-month period. The Debtor's cashflow projections confirm that the Debtor generates sufficient cash flow to fund the payments due under the Plan, and provide payments to unsecured creditors in the total amount of $45,000 over the 60-month period following the Effective Date of this Plan. A full-text copy of the Plan of Reorganization dated August 29, 2023 is available at https://urlcurt.com/u?l=mtnV9K from PacerMonitor.com at no charge. Attorneys for Debtor: Ahlgren Law Office, PLLC Erik A. Ahlgren, Esq. Sarah C. Duffy, Esq. 220 West Washington Ave, Ste 105 Fergus Falls, MN 56537 Office: 218-998-2775 Email: erik@ahlgrenlawoffice.net sarah@ahlgrenlawoffice.net About Caring Hands Home Care Caring Hands Home Care, Inc., has operated a home health care agency since 1994 and is licensed by the Minnesota Department of Human Services. Caring Hands Home Care sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Minn. Case No. 23-60214) on May 30, 2023. In the petition signed by Gary Johnson, its president, the Debtor disclosed up to $100,000 in assets and up to $500,000 in liabilities. Judge Michael E. Ridgway oversees the case. Ahlgren Law Office, PLLC, represents the Debtor as legal counsel. The Debtor previously filed a voluntary Chapter 11 bankruptcy petition (Bankr. D. Minn. Case No. 17-60044) on Jan. 27, 2017. It was represented by Erik A Ahlgren, Esq. -- erikahlgren@charter.net -- at Ahlgren Law Office in the 2017 case. CEL-SCI CORP: Extends Employment Deal With 2 Execs Until 2027 ------------------------------------------------------------- As discussed in CEL-SCI Corporation's 8-K report dated Aug. 31, 2019, filed with the Securities and Exchange Commission, the Company entered into four-year employment agreements with Patricia B. Prichep, senior vice president of Operations and Eyal Talor, Ph.D., chief scientific officer. On Aug. 28, 2023, the terms of the employment agreements were extended to Aug. 31, 2027. About CEL-SCI CEL-SCI Corporation is a clinical-stage biotechnology company focused on finding the best way to activate the immune system to fight cancer and infectious diseases. Its lead investigational therapy Multikine (Leukocyte Interleukin, Injection) completed a pivotal Phase 3 clinical trial for patients who are newly diagnosed with locally advanced (stage III and IV) primary (not yet treated) squamous cell carcinoma of the head and neck (SCCHN). Multikine has received Orphan Drug Status from the U.S. Food and Drug Administration (FDA) for this indication. Cel-SCI Corporation reported a net loss of $36.70 million for the year ended Sept. 30, 2022, compared to a net loss of $36.36 million for the year ended Sept. 30, 2021. As of Dec. 31, 2022, the Company had $44.56 million in total assets, $17.96 million in total liabilities, and $26.59 million in total stockholders' equity. Potomac, Maryland-based BDO USA, LLP, the Company's auditor since 2005, issued a "going concern" qualification in its report dated Dec. 27, 2022, citing that the Company has suffered recurring losses from operations and has future liquidity needs that raise substantial doubt about its ability to continue as a going concern. CHATTAN 1379: Hires Rountree Leitman Klein as Counsel ----------------------------------------------------- Chattan 1379, LLC seeks approval from the U.S. Bankruptcy Court for the Middle District of Georgia to employ Rountree, Leitman, Klein & Geer, LLC as its legal counsel. The Debtor requires legal counsel to: (a) give advice with respect to the powers and duties of the Debtor in the management of its property; (b) prepare legal papers; (c) assist with the examination of claims of creditors; (d) assist with the formulation and preparation of a disclosure statement and Chapter 11 plan of reorganization and with the confirmation and consummation thereof; and (e) perform all other legal services to administer the Debtor's Chapter 11 case. The firm will be paid at these rates: William A. Rountree, Attorney $595 per hour Will B. Geer, Attorney $595 per hour Michael Bargar, Attorney $595 per hour Hal Leitman, Attorney $425 per hour David S. Klein, Attorney $495 per hour Alexandra Dishun, Attorney $425 per hour Ceci Christy, Attorney $425 per hour Elizabeth A. Childers, Attorney $395 per hour Caitlyn Powers, Attorney $325 per hour Shawn Eisenberg, Attorney $300 per hour Elizabeth Miller, Paralegal $250 per hour Sharon M. Wenger, Paralegal $225 per hour Megan Winokur, Paralegal $175 per hour Catherine Smith, Paralegal $150 per hour Clay Klein, Law Clerk $200 per hour The firm received a received a pre-bankruptcy retainer of $35,000. Will B. Geer, Esq., a partner at Rountree Leitman Klein & Geer, 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: Will B. Geer, Esq. Caitlyn Powers, Esq. ROUNTREE LEITMAN KLEIN & GEER, LLC Century Plaza I 2987 Clairmont Road, Suite 350 Atlanta, GA 30329 Tel: (404) 584-1238 Email: wgeer@rlkglaw.com cpowers@rlkglaw.com About Chattan 1379, LLC Chattan 1379, LLC is a lessor of real estate in Leesburg, Ga. The Debtor filed Chapter 11 petition (Bankr. M.D. Ga. Case No. 23-10628) on July 31, 2023, with $1 million to $10 million in both assets and liabilities. Samuel Isaiah Bora, manager, signed the petition. Judge Austin E. Carter oversees the case. Will Geer, Esq., at Rountree, Leitman, Klein & Geer, LLC is the Debtor's legal counsel. CHESANING MFG: Wins Cash Collateral Access on Final Basis --------------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of Michigan, Northern Division, authorized Chesaning Mfg. Co., Inc. to use cash collateral on a final basis in accordance with the budget. The Debtor is granted leave to use funds in accordance with the Thirteen Week Cash Flow Projection, which will be adjusted on a weekly basis using the actual usage of the previous week. As previously reported by the Troubled Company Reporter, the entities which may claim an interest in the cash collateral are Citizens Bank, N.A. and NewLane Finance Co. In addition, General Electric Capital Corporation, GE Capital Trade Payables Services, LLC, MUFG Union Bank, N.A., and MUFG Bank, Ltd filed financing statements. The Debtor does not owe any money to these entities and does not believe that these financing statements relate to any debt owed by the Debtor. The first to file creditor which has an interest in cash collateral is Citizens Bank, N.A. While Citizens Bank, N.A. appears to hold a perfected lien as a result of their financing statement, the Debtor asserts that Citizens Bank N.A. does not hold a lien on the funds in the Debtor's bank account at PNC bank as Citizens Bank lacks custody and control of the funds therein. A secured claim will be asserted by NewLane Finance Company. NewLane Finance Company holds a claim relative to certain equipment purchased by the Debtor. NewLane Finance Company has filed a financing statement which also asserts an interest in the proceeds and accounts from the financed equipment. These proceeds and accounts are not identifiable, as such the Debtor asserts that NewLane Finance Company does not have an interest in cash collateral. However, NewLane Finance Company may claim to be the holder of an interest in cash collateral as a result of their financing statement. A secured claim will, on information and belief, be asserted by CNC Associates, Inc. CNC Associates, Inc. holds a claim relative to certain equipment purchased by the Debtor. CNC Associates, Inc. may claim an interest in cash collateral, but the financing statement does not identify proceeds or accounts related to the subject equipment. As such, any alleged interest in cash collateral would be unperfected and avoidable. The Debtor previously entered into agreements with several lenders which provided financing at an extremely high rate of interest. One of these lenders is Funding Metrics, LLC. This lender did provide identifying information in its financing statement, however Funding Metrics, LLC was the last to file a financing statement and as such holds an entirely unsecured claim. The Debtor also entered into similar high interest loan agreements with Family Business Funding, LLC, FundKite, LIV Funding, LLC, Ondeck and Rapid Finance. Some of these lenders may attempt to characterize the loans as purchases. These entities likely caused the filing of the financing statements which do not identify the secured party. These entities may also claim an interest in cash collateral based on these agreements. Any such claim would be disputed, but more importantly as of the Petition Date and long before the Petition Date there was no unencumbered equity in the Debtor's assets, leaving the vast majority of these claims unsecured. The US Small Business Administration, Daniel Brettrager, Ron Brettrager, and Janet Stroll may assert a secured claim in the case based on information available to the Debtor. However, these parties, on information and belief, did not file financing statements. As such they do not have a perfected interest in the Debtor's property. The Debtor estimates that the total value of its cash, negotiable instruments, documents of title, securities, deposit accounts, or other cash equivalents as of the Petition Date is approximately $275,000. This is inclusive of unpaid accounts receivable owed to the Debtor and the Debtor's work in progress. The court ruled as adequate protection, the secured creditors are granted a replacement lien upon the Debtor's post filing cash collateral as adequate protection and as a replacement lien for the Debtor's use of pre-petition cash collateral. The priority of any replacement liens in the postpetition cash collateral will be the same as the priority of the liens that existed in prepetition cash collateral, and replacement liens will be granted only to the extent that a valid and perfected pre-petition lien has been diminished in value by the Debtor's use of cash collateral post-petition. The Debtor will also pay all post-petition taxes or charges assessed to avoid any priming liens and shall not engage in any sales or other disposition of its assets not in the ordinary course of business without prior authorization by the Court. A copy of the order is available at https://urlcurt.com/u?l=3MTZ4T from PacerMonitor.com. About Chesaning Mfg. Co., Inc. Chesaning Mfg. Co., Inc. is a custom machining, fabrication and assembly partner that works with aerospace, defense, and niche manufacturers. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Mich. Case No. 23-20898) on August 8, 2023. In the petition signed by Christophor M. Soule, sole shareholder and president, the Debtor disclosed up to $500,000 in assets and up to $10 million in liabilities. Judge Daniel S. Opperman oversees the case. Zachary R. Tucker, Esq., at Winegarden, Haley, Lindholm, Tucker and Himelhoch PLC, represents the Debtor as legal counsel. CHOSHEN ISRAEL: Seeks to Hire Tirelli Law Group as Counsel ---------------------------------------------------------- Choshen Israel Group, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of New York to employ Tirelli Law Group, LLC as counsel. The Debtor requires legal counsel to: (a) give advice concerning the conduct of the administration of the Debtor's Chapter 11 bankruptcy case; (b) advise and prepare all necessary applications and motions required to resolve the pending controversy concerning the assets the Debtor lists on its Chapter 11 schedules; (c) advise and prepare all necessary applications and motions required to resolve certain unsecured claims; (d) prepare all necessary applications and motions as required under the Bankruptcy Code, Federal Rules of Bankruptcy Procedure, and Local Bankruptcy Rules; (e) prepare a disclosure statement and plan of reorganization or liquidation; and (f) perform all other legal services that are necessary to the administration of the case. The hourly rates of the firm's counsel and staff are as follows: Linda Tirelli, Partner $600 Associate attorneys $400 Paralegals $200 The firm received a retainer of $40,000 from a third party. Linda Tirelli, Esq., an attorney at the Tirelli Law Group, disclosed in a court filing that her firm is a "disinterested person" as that term is defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Linda M. Tirelli, Esq. Tirelli Law Group, LLC 50 Main Street, Suite 1265 White Plains, NY 10606 Telephone: (914) 732-3222 Facsimile: (914) 517-2696 Email: LTirelli@tirellilawgroup.com About Choshen Israel Group Choshen Israel Group, LLC filed Chapter 11 petition (Bankr. S.D.N.Y. Case No. 23-35636) on Aug. 2, 2023, with up to $50,000 in assets and up to $10 million in liabilities. Lawrence Katz, member, signed the petition. Judge Cecelia G. Morris oversees the case. Linda M. Tirelli, Esq., at Tirelli Law Group, LLC serves as the Debtor's bankruptcy counsel. DELDOR WELLNESS: Court OKs $60,280 Cash Collateral -------------------------------------------------- The U.S. Bankruptcy Court for the District of New Jersey, Newark Vicinage, authorized Deldor Wellness, Inc. to use cash collateral on an interim basis in accordance with the budget, up to the aggregate amount of $60,280. The Debtor requires immediate authority to use cash collateral to continue its business operations without interruption toward the objective of formulating an effective plan of reorganization. Amerifi Capital LLC has asserted a secured claim against the Debtor in the approximate amount of $38,761 as of the Petition Date. The Secured Creditor holds or may hold a properly perfected lien on the Debtor's personal property (including proceeds) at the commencement of the case, including the Debtor's accounts, inventory and other collateral which is or may result in cash collateral. The Debtor is authorized to use cash collateral to meet the ordinary cash needs of the Debtor (and for such other purposes as may be approved in writing by the Secured Creditor) for the payment of actual expenses necessary to (a) maintain and preserve its assets, and (b) continue operation of its business, including payroll and payroll taxes, and insurance expenses as reflected in the cash collateral budget. As adequate protection, the Secured Creditor is granted a replacement perfected security interest under 11 U.S.C. Section 361(2) to the extent the Secured Creditor's cash collateral is used by the Debtor. The replacement lien and security interest granted is automatically deemed perfected upon entry of the Order without the necessity of the Secured Creditor taking possession, filing financing statements, mortgages or other documents. Within 14 days of the entry of the Order, the Debtor will provide monthly periodic adequate protection payments to Secured Creditor in the amount of $275, and monthly accountings to the Secured Creditor setting forth the cash receipts and disbursements made by the Debtor under the Order. A further hearing on the matter is set for September 19, 2023 at 5 p.m. A copy of the order is available at https://urlcurt.com/u?l=ZsdTNK from PacerMonitor.com. About Deldor Wellness, Inc. Deldor Wellness, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. N.J. Case No. 23-17422) on August 25, 2023. In the petition, the Debtor disclosed up to $50,000 in assets and up to $1 million in liabilities. Judge Rosemary Gambardella oversees the case. Brian G. Hannon, Esq., at Norgaard, O'Boyle & Hannon, represents the Debtor as legal counsel. DIAMOND SCAFFOLD: Court OKs Cash Collateral Use Thru Nov 18 ----------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Alabama authorized Diamond Scaffold Services, LLC to use cash collateral on an interim basis in accordance with the budget, with a 10% variance, through November 18, 2023. The Debtor requires the use of cash collateral to pay operating expenses. Prior to June 2021, the Debtor owned scaffolding and leased it to its customers. It now leases scaffolding from Sertant Capital, SMA II LP I, LLC, Mazuma Capital, and First Guaranty Bank and subleases that scaffolding to its customers. Sertant, SMA, Mazuma, and First Guaranty Bank claim security interests in the scaffolding and in the proceeds thereof. Honest Funding, LLC; Cheetah Capital; Dynasty Capital 26, LLC; Reserve Capital Management; Byrd Capital, LLC; Granite State Services, LLC; Strategic Investments, LLC; LCF Group, Inc.; and Imperial Funding -- which the Debtor calls "Cash Advance Facilitators" -- may also claim to own or to have a security interest in certain of Debtor's receivables. Byrd Capital, LLC, Granite State Services, LLC, and Strategic Investments, LLC are members of 3 Cajuns, LLC and consolidated their claims against the Debtor into one promissory note in the principal amount of $875,000 prior to the petition date. The IRS, Alabama Department of Revenue, and the State of Texas recorded tax liens against the Debtor prior to the Petition Date, which may attach to the Debtor's pre-petition accounts receivables. The IRS, the Alabama Department of Revenue, the Louisiana Department of Revenue, the State of Texas, and the Funders are the "Cash Collateral Claimants." To provide adequate protection to those of the Equipment Lessors and Cash Collateral Claimants that have ownership claims to or valid liens on the Debtor's cash collateral, the Equipment Lessors and Cash Collateral Claimants are granted, effective as of the date of the Interim Order, a post-petition security interest and replacement lien on the Debtor's postpetition receivables to the same extent, priority, and perfection status as they have valid prepetition liens. These Cash Collateral Claimants will receive adequate protection payments until the order expires or is modified by further order of the Court: Creditor Monthly Payment a. Internal Revenue Service $2,472.00 b. Alabama Dept. of Revenue $300.00 c. Louisiana Dept. of Revenue $1,100.00 d. State of Texas $560.00 e. 3Cajuns $848.00 A copy of the order is available at https://urlcurt.com/u?l=fseFfk from PacerMonitor.com. About Diamond Scaffold Services Diamond Scaffold Services LLC -- https://www.diamondscaffold.com/ -- is an authorized distributor of Ring-lock, Cup-lock, Shoring, and Frame Scaffold. Diamond Scaffold Services, LLC, sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ala. Case No. 22-11208) on June 21, 2022. In the petition filed by Jewell Wayne Sumrall, as president, the Debtor estimated assets between $1 million and $10 million and liabilities between $10 million and $50 million. Judge Jerry Oldshue oversees the case. Alexandra K. Garrett, Esq., at Silver, Voit & Garrett, is the Debtor's counsel. Jason R. Watkins is serving as special counsel, representing the Debtor in various litigation. EAST POINTE: Unsecureds to Get Share of Income for 60 Months ------------------------------------------------------------ East Pointe Holdings, Inc., filed with the U.S. Bankruptcy Court for the Eastern District of Texas a Plan of Reorganization dated August 29, 2023. The Debtor was established in November 2007. The original purpose was to operate Assisted Living facility. The President at the time was a former contractor with Texas Workforce Commission and was familiar with State and Federal Contracting and Bidding Opportunity, thus the company began bidding on state and federal contracts. The Company has continue serving the Texas, Oklahoma and Louisiana National Guard with various size catering opportunities ranging from $7,500 to $85,000 assignments. The Military Entrance Processing Station aka MEPS in Shreveport is $42K annually and $146K annually for Houston. Since the filing of the case, the Debtor has remained in business. The Debtor has had it food trailer wrongfully repossessed and is attempting to retrieve the trailer. The Debtor's operations have been slowed by the loss of the trailer. The Debtor has been able to operate profitably during the case. Class 7 consists of Allowed Unsecured Creditors. All unsecured creditors shall share pro rata in the unsecured creditors pool. The unsecured creditor shall include the claim of the Small Business Administration for the balance of the EIDL loan obtained by the Debtor. The Class 7 creditors shall also include any claims of Knightsbridge, Epic Advance and Uptown Funding. The Debtor shall make monthly payments commencing 30 days after the effective date of $1,000 into the unsecured creditors' pool. The amount represents the Debtor's disposable income. The Debtor shall make distributions to the Class 6 creditors every 90 days commencing 90 days after the first payment into the unsecured creditors pool. The Debtor shall make 60 payments into the unsecured creditors pool. The Class 7 creditors are impaired. The current owner will receive no payments under the Plan, however, he will be allowed to retain his ownership in the Debtor. Debtor anticipates the continued operation of the business to generate the funds necessary to fund the Plan. A full-text copy of the Plan of Reorganization dated August 29, 2023 is available at https://urlcurt.com/u?l=24e8wk from PacerMonitor.com at no charge. Proposed Attorneys for Debtor: Eric A. Liepins, Esq. Eric A. Liepins, PC 12770 Coit Road, Suite 850 Dallas, TX 75251 Telephone: (972) 991-5591 Facsimile: (972) 991-5788 Email: eric@ealpc.com About East Pointe Holdings East Pointe Holdings, Inc., sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Texas Case No. 23-60260) on May 30, 2023, with as much as $1 million in both assets and liabilities. Eric A. Liepins, Esq., at the law firm of Eric A. Liepins, P.C. represents the Debtor as counsel. ELITE INVESTMENT: Case Summary & Three Unsecured Creditors ---------------------------------------------------------- Debtor: Elite Investment Management Group, LLC 4221 Wilshire Blvd., Ste. 312 Los Angeles, CA 90010 Business Description: The Debtor is engaged in activities related to real estate. Its principal assets are located at 10710 Chalon Rd. Los Angeles, California. Chapter 11 Petition Date: September 5, 2023 Court: United States Bankruptcy Court Central District of California Case No.: 23-15752 Judge: Hon. Neil W. Bason Debtor's Counsel: John N. Tedford, IV, Esq. DANNING, GILL, ISRAEL & KRASNOFF, LLP 1901 Avenue of the Stars, Suite 450 Los Angeles, CA 90067-6006 Tel: (310) 277-0077 Email: jtedford@danninggill.com Estimated Assets: $10 million to $50 million Estimated Liabilities: $10 million to $50 million The petition was signed by Jonathan Menlo as authorized agent. A full-text copy of the petition is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/A77OWOA/Elite_Investment_Management_Group__cacbke-23-15752__0001.0.pdf?mcid=tGE4TAMA List of Debtor's Three Unsecured Creditors: Entity Nature of Claim Claim Amount 1. First Insurance Funding Trade Debt $18,059 450 Skokie Blvd Ste 1000 Northbrook, IL 60062-7917 Tel: (800) 837-3707 2. Spectrum Trade Debt $262 PO Box 60074 City of Industry, CA 91716 Tel: (888) 812-2591 3. The Dumbell Man Trade Debt $216 Fitness Equipment 655 Hawaii Ave Torrance, CA 90503 Tel: (310) 381-2900 Email: rchodorowski@dumbellman.com ELITE LIMOUSINE: Seeks Cash Collateral Access Thru Sept 30 ---------------------------------------------------------- Elite Limousine Plus, Inc. and Dispatch Support Services LLC ask the U.S. Bankruptcy Court for the Eastern District of New York for authority to use the cash collateral of its first priority secured creditor Rosenthal & Rosenthal, Inc. and provide adequate protection, through September 30, 2023. The Debtor requires the use of cash collateral to pay for the Debtors' ordinary, necessary, and reasonable operating expenses. Prior to the filing of the bankruptcy petition, the Debtors' proposed counsel sought out and communicated with counsel for the Lender to begin discussions therewith concerning a pre-bankruptcy workout and/or the consensual use of the cash collateral in a Chapter 11 proceeding. Now that the Debtors have filed these Chapter 11 cases, the Debtors have been able to engage in renewed discussions with the Lender and its counsel, and are hopeful that the parties will finalize negotiations regarding the terms of the Debtors' consensual use of the cash collateral as embodied in a stipulation. The Debtors anticipate that a stipulation will set forth the terms and conditions authorizing the Debtors to use the cash collateral to pay their ordinary business operating expenses through September 30, 2023, subject to extension between the parties or by further Order of the Court. The Debtors' first priority secured creditor is the Lender. On May 25, 2017, the Debtors entered into a financing agreement (asset based loan) with the Lender. Upon information and belief, also on May 25, 2017, various promissory notes were issued by the Debtors in favor of Lender, with the total amount outstanding due to the Lender in the sum of $16.2 million, plus interest and fees in accordance with the loan documents, as of June 20, 2023. The Lender is secured by substantially all of the Debtors' assets. As a result of certain asserted defaults, by agreement dated June 21, 2023, the Debtors and the Lender negotiated and entered into a forbearance agreement. By letter dated August 18, 2023, the Lender issued to the Debtors a notice of termination of the Forbearance Agreement. By letter dated August 24, the Lender issued to the Debtors a demand for payment in full of the obligations owed by the Debtors in the amount of $16.1 million. In 2014, Uber and Lyft appeared in the transportation industry. Uber and Lyft provided significant and unwanted competition for Elite and others in the transportation industry. Elite was able to pivot its business operations and handle this competition. In 2017, the entire transportation industry was hurting and the Debtor acquired the assets and assumed the liabilities of another transportation entity. Rosenthal was the secured creditor of this entity. This business transaction served as the introduction of Rosenthal to Elite and for the first time in its operation, Elite incurred debt. In 2017, Elite took a risk to expand its operations, and agreed to run the dispatch operations of a competitor, Royal Dispatch, on an outsourced basis and established DSS. Shortly after this acquisition, a review of the acquired entities' books and records revealed fraud in the prior record keeping and sales reporting. This caused Elite's debt to the Lender to increase by an additional $800,000. Elite managed this newly acquired financial obligation and payments were timely remitted to the Lender. In March 2020, the Covid-19 pandemic arrived and there is no dispute that the entire economy was shut down for a significant period of time. There were stringent restrictions. Elite has been engaged in good faith negotiations with the Lender and its counsel to reach a working accord with respect to the debt that is owed to the Lender. Unfortunately, these negotiations reached an impasse immediately prior to the Chapter 11 case filings. With insufficient cash flow during the prepetition period, Elite fell behind on its payments to New York State on account of sales tax obligations. DSS is also obligated on this debt to NYS. Elite had been negotiating with NYS with respect to a payment plan to service the sales tax obligations. Elite participated in several Conciliation Conferences with NYS. With no funding from the Lender and no ability to negotiate new financing terms with the Lender, Elite was unable to resolve its issues with NYS. Before the Debtors contemplated the Chapter 11 proceedings, the Debtors, through counsel and a turnaround consultant, attempted to engage in settlement discussions with the Lender, through its counsel, and with NYS, through its Conciliation process. Given the lack of continued financing from the Lender, Elite and DSS were left with no viable alternative but to file for relief in the Court. The Debtors propose to grant the Lender a replacement lien against and security interest in all assets of the Debtors, to the extent and value of such liens as they existed immediately prior to the Filing Date and for any diminution in value for the use of such cash collateral. The replacement lien provides the Lender with adequate protection. Furthermore, as and for additional proposed adequate protection to the Lender, the Debtor's Budget includes a loan repayment of approximately $15,000 and a purported interest payment in the sum of $81,311, to which the Debtors would submit that since the Lender is vastly undersecured (as it relates to the Debtor's property) that it is not entitled to an interest payment under the Bankruptcy Code, however, the Debtors are willing to make such payment as an additional form of adequate protection and the Debtors fully reserve all rights as to the application of such payment toward the obligations owed to the Lender. A copy of the motion is available at https://urlcurt.com/u?l=3aCrLp from PacerMonitor.com. About Elite Limousine Plus, Inc Elite Limousine Plus, Inc. is part of the taxi and limousine service industry. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.Y. Case No. 23-43088) on August 29, 2023. In the petition signed by Shafquat Chaudhary, president, the Debtor disclosed up to $50 million in both assets and liabilities. Judge Jil Mazer-Marino oversees the case. Salvatore LaMonica, Esq., at Lamonica Herbst & Maniscalco, LLP, represents the Debtor as legal counsel. ESCO LTD: Seeks to Extend Plan Exclusivity to September 29 ---------------------------------------------------------- ESCO, Ltd asks the U.S. Bankruptcy Court for the District of Maryland to extend its exclusive periods for the filing of a chapter 11 plan and solicitation of acceptances thereof to September 29, 2023 and November 27, 2023, respectively. The Debtor stated that it has expended significant efforts to sufficiently conduct successful store closing and going out of business sales. The Debtor also added that it has been conferring with the Committee regarding the terms of a potential plan of liquidation or other means to cost-effectively wind down its chapter 11 bankruptcy case, and responding to discovery demands. The Debtor asserts that it requires a limited amount of additional time to further negotiate a potential chapter 11 plan. Unless extended, the Debtor's exclusivity period and exclusive solicitation period expire on July 31, 2023 and September 27, 2023, respectively. ESCO, Ltd. is represented by: Christopher A. Ward, Esq. Shanti M. Katona, Esq. 222 Delaware Avenue, Suite 1101 Wilmington, DE 19801 Tel: 302-252-0920 Email: cward@polsinelli.com skatona@polsinelli.com - and - D. Jack Blum, Esq. Tony W. Torain, II, Esq. 1401 Eye “I” Street, N.W., Suite 800 Washington, DC 20005 Tel: (202) 772-8483 Email: jack.blum@polsinelli.com twtorain@polsinelli.com About ESCO Ltd. ESCO, Ltd., a retailer of apparel and footwear in Gwynn Oak, Md., filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Md. Case No. 23-12237) on March 31, 2023. In the petition signed by its chief restructuring officer, Stanley W. Mastil, the Debtor disclosed $10 million to $50 million in both assets and liabilities. The Debtor tapped Polsinelli PC as bankruptcy counsel and Gavin/Solmonese, LLC as restructuring advisor. Mr. Mastil of Gavin/Solmonese serves as the Debtor's chief restructuring officer. Stretto, Inc. is the Debtor's claims and noticing agent and administrative advisor. The U.S. Trustee for Region 4 appointed an official committee to represent unsecured creditors in the Debtor's Chapter 11 case. Kelley Drye & Warren LLP, Cole Schotz P.C., and Berkeley Research Group LLC serve as bankruptcy counsel, local counsel and financial advisor, respectively. EVENT PROMOTION: Seeks Cash Collateral Access --------------------------------------------- Event Promotion Supply, Inc. d/b/a eps-DOUBLET asks the U.S. Bankruptcy Court for the District of Colorado for authority to use cash collateral and provide adequate protection. The Debtor requires the use of cash collateral to fund ongoing business operations, including funding payroll, related taxes, insurance, general overhead, continuing business operations and restructuring costs as set forth in the proposed monthly budget. The Debtor has one primary secured creditor, the Small Business Administration, who claims a lien on all of the Debtor's inventory and accounts. In or around 2020, the Debtor received a Disaster COVID-19 Economic Injury loan from the SBA, where the SBA loaned the principal amount of $150,000 to the Debtor. In exchange for the loan, the Debtor gave the SBA essentially a blanket lien, which covers the Debtor's inventory, equipment, account, and general intangibles. The Debtor pays a monthly interest payment of $731 for this SBA loan. In performing a UCC-1 search of the Debtor, it was also discovered that Stenson Tamaddon LLC asserts a lien on "all assets of the debtor arising from debtor's application for the Employee Retention Tax Credit in any eligible quarter." It is believed that the Debtor owes Stenson approximately $11,000. Given the nature of this lien, it is believed that Stenson has no collateral that is secured by this lien as the tax credit has been paid out to employees. However, the Debtor will provide notice of the Motion to Stenson out of an abundance of caution. In order to provide adequate protection to the SBA for the Debtor's use of cash collateral, the Debtor proposes the following adequate protection: a. The Debtor will provide the SBA with a replacement post-petition lien on all postpetition inventory, accounts receivable, and income derived from the operation of the business and assets, to the extent that the use of the cash reduces the value of the SBA's interest in the collateral pursuant to 11 U.S.C. Section 361(2). The replacement lien will hold the same relative priority to assets as did its prepetition lien. b. The Debtor will only use cash collateral in accordance with Budget, subject to a deviation on line item expenses not to exceed 15% without the prior agreement of the SBA or an order of the Court. c. The Debtor will provide the SBA with a complete accounting, on a monthly basis, of all revenue, expenditures, and collections through the filing of the Debtor's Monthly Operating Reports; and d. The Debtor will continue paying the SBA in accordance with their loan agreement. Should the Debtor default in any of the adequate protection provisions, the Debtor's approved use of the cash collateral will cease and the SBA will have the opportunity to obtain further relief from the Court. A copy of the order is available at https://urlcurt.com/u?l=EtxDpg from PacerMonitor.com. About Event Promotion Supply, Inc. Event Promotion Supply, Inc. is a large format printing company. EPS-Doublet can create a custom trade show booth design, fabricate, install, and even manage a show. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Colo. Case No. 23-13911) on August 30, 2023. In the petition signed by Jon Leasia, secretary, the Debtor disclosed up to $10 million in both assets and liabilities. Annette Jarvis, Esq., at Greenberg Traurig LLP, represents the Debtor as legal counsel. EXIGENT LANDSCAPING: Gets OK to Tap Stevenson & Bullock as Counsel ------------------------------------------------------------------ Exigent Landscaping, LLC received approval from the U.S. Bankruptcy Court for the Eastern District of Michigan to employ Stevenson & Bullock, PLC to handle its Chapter 11 case. The firm received $38,404.50 for pre-bankruptcy fees and expenses. Ernest Hassan, III, Esq., an attorney at Stevenson & Bullock, disclosed in a court filing that his firm is a "disinterested person" as defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Ernest M. Hassan, III, Esq. Stevenson & Bullock, PLC 26100 American Drive, Suite 500 Southfield, MI 48034 Telephone: (248) 354-7906 Facsimile: (248) 354-7907 Email: ehassan@sbplclaw.com About Exigent Landscaping Exigent Landscaping, LLC is a full-service design and build outdoor construction company specializing 3D designs, pools, hardscaping, landscaping, patios, pergolas, and outdoor kitchens. The company is based in Shelby Township, Mich., and conducts business under the name Exigent Design and Build. Exigent Landscaping filed Chapter 11 petition (Bankr. E.D. Mich. Case No. 23-46912) on Aug. 7, 2023, with $500,000 to $1 million in assets and $1 million to $10 million in liabilities. Brandon Heitman, president, signed the petition. Judge Thomas J. Tucker oversees the case. Ernest M. Hassan, III, Esq., at Stevenson & Bullock, P.L.C. represents the Debtor as legal counsel. FT MEDICAL: Court OKs Interim Cash Collateral Access ---------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Georgia, Atlanta Division, authorized FT Medical Group, LLC to use cash collateral on an interim basis. McKesson Corp. has a first priority security interest in cash collateral pursuant to its UCC-1 filed on May 5, 2020. NOWAccount Network Corp., which the Debtor believes is owed nothing but has not released the UCC has a second priority security interest in cash collateral pursuant to its UCC-1 filed on September 30, 2020. Ultra Funding has a third priority security interest in cash collateral pursuant to its UCC-1 filed on May 2,2022. Renasant Bank has a fourth priority security interest in cash collateral pursuant to its UCC-1 filed on August 11, 2022. The Debtor is authorized to use the cash collateral in accordance with the Amended Budget, or in an amount hereafter mutually agreed upon by the Parties or as modified by the Court. In addition, the Debtor will escrow the following amounts for the Sub V Trustee, $1000 in September 2023, $ 1500 in October 2023, $2000 in November 2023, $2000 in December 2023, $2000 in January 2024, and $2000 in February 2024. A 10% variance per category as listed in the Budget, or the actual cost, whichever is greater, will be permitted. The use of the cash collateral will continue until one or more of the following events or conditions: (1) the conversion or dismissal of the Chapter 11 case, (2) the Debtor's failure to duly and punctually perform any of its obligations under the Order, or (3) the Order being amended, vacated, stayed, reversed or otherwise modified. As partial adequate protection to the Lenders, for the Debtor's use of cash collateral, Lenders are granted replacement liens on post-petition property of the same validity, extent, and priority and upon the same Cash Collateral as each entity's pre-petition liens. The Lenders will not be required to file financing statements or other documents in any jurisdiction or take any other action in order to validate or perfect the security interests and liens granted pursuant to the provisions of the Order, and such security interests and liens will be deemed automatically perfected upon entry of the order. The security interests and liens granted herein will secure an amount equal to the aggregate amount or value of the cash collateral used or consumed in which the entity has a valid perfected interest. In addition to the liens and security interests granted pursuant to the Order, the Lenders will be entitled to an administrative claim pursuant to 11 U.S.C. section 507 (b) to the extent, if any, that the adequate protection for the Debtor's use of cash collateral provided herein proves to be inadequate. In addition, the Debtor will make the following post-petition monthly payments: i. McKesson Corp: 40% of Debtor's actual net profit per month ii. NOWaccount Network Corp: 0% of Debtor's actual net profit per month iii. Ultra Funding: 20% of Debtor's actual net profit per month iv. Renasant Bank: 20% of Debtor's actual net profit per month A copy of the court's order is available at https://urlcurt.com/u?l=u3KdgM from PacerMonitor.com. About FT Medical Group LLC FT Medical Group LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 23-57910) on August 18, 2023. In the petition signed by Darryle Farr, COO, the Debtor disclosed $1,153,142 in total assets and $5,413,254 in total liabilities. Judge Lisa Ritchey Craig oversees the case. Ian Falcone, Esq., at The Falcone Law Firm, PC, represents the Debtor as legal counsel. FUJI JAPANESE: Seeks Cash Collateral Access ------------------------------------------- Fuji Japanese Steakhouse Asian Bistro Inc. asks the U.S. Bankruptcy Court for the Western District of Texas, Waco Division, for authority to use cash collateral to operate the business as set forth in the budget, with a 5% variance. The Debtor depends on the use of cash collateral for payroll, insurance, and general operating expenses. Revenue is generated through the Debtor's business of management and operation of its full-service Japanese steakhouse and restaurant business. A search in the Texas Secretary of State shows that allegedly secured positions are held, in order of priority, by: PNC Bank (formerly BBVA), the SBA, Capital Certified Dev. Corp. (an SBA loan), NewTek Small Business Finance, Funding Metrics, Westwood Funding, RDM Capital, and IOU. As adequate protection, the creditors will be granted replacement liens on all post-petition cash collateral and post-petition acquired property to the same extent and priority they possessed as of the Petition Date without the necessity of the execution, recording or filing of mortgages, security agreements, pledge agreements, financing statements, deposit control agreements, or other documents. A copy of the motion is available at https://urlcurt.com/u?l=8UqCMK from PacerMonitor.com. A copy of the budget is available at https://urlcurt.com/u?l=MiCbsN from PacerMonitor.com. The Debtor projects $310,000 in cash receipts and $286,970 in cash disbursements for 30 days. About Fuji Japanese Steakhouse Asian Bistro Inc. Fuji Japanese Steakhouse Asian Bistro Inc. owns and operate a restaurant. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 23-60445) on August 31, 2023. In the petition signed by Shuang Lin, president, the Debtor disclosed $4,861,717 in assets and $7,110,297 in liabilities. Judge Michael M. Parker oversees the case. Robert C. Lane, Esq., at the Lane Law Firm, represents the Debtor as legal counsel. GOODLIFE PHYSICAL: No Change in Patient Care, 3rd PCO Report Says ----------------------------------------------------------------- Tamar Terzian, the court-appointed patient care ombudsman, filed with the U.S. Bankruptcy Court for the Central District of California a third interim report regarding the health care facility operated by Goodlife Physical Medicine Corporation. In the report which covers the period June 17 to August 17, 2023, the PCO finds that all locations have adequate staff and providers on site to meet the standard of care for each patient. The PCO noted that there is no controlled substances or medication at the clinics, and the clinics are clean with adequate equipment for patient use applicable for chiropractic, physical therapy and pain management care. Monthly progress reports conducted by the provider to determine and assess the patients has improved in their treatment plan. The PCO reviewed charts of various patients to ensure that the charting is properly maintained and reviewed the provider's plan treatments, follow up and the goals for the patients. Based on the review of EMR, the PCO concludes that the medical records are well maintained and accessible for staff. The PCO cited no changes to report currently in terms of the quality of care and did not observe operational concerns as contemplated by Section 333(b)(3) of the Bankruptcy Code with potential patient safety implications. A copy of the ombudsman report is available for free at https://urlcurt.com/u?l=2CHZWe from PacerMonitor.com. The ombudsman may be reached at: Tamar Terzian, Esq. Terzian Law Group 1122 E. Green Street Pasadena, CA 91106 Telephone: (818) 242-1100 Facsimile: (818) 242-1012 Email: tterzian@terzlaw.com About Goodlife Physical Medicine Corp Goodlife Physical Medicine Corp, a company in Redondo Beach, Calif., filed a petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Calif. Case No. 23-10340) on Jan. 23, 2023. At the time of the filing, the Debtor reported up to $50,000 in assets and $1 million to $10 million in liabilities. Judge Sandra R. Klein oversees the case. The Debtor is represented by Leslie A. Cohen, Esq., at Leslie Cohen Law, PC. Tamar Terzian, Esq., at Terzian Law Group is the patient care ombudsman appointed in the Debtor's Chapter 11 case. GREELEY LAND: Court OKs Cash Collateral Access ---------------------------------------------- The U.S. Bankruptcy Court for the District of Colorado authorized Greeley Land, LLC to use cash collateral on an interim basis in accordance with its agreement with Pathfinder 501, LLC and Pathfinder Crismon, LLC and the budget, with a 15% variance. As previously reported by the Troubled Company Reporter, Pathfinder 501 asserts a senior security interest in all the Debtor's assets pursuant to a Deed of Trust, Assignment of Rents, and Security Agreement. Crismon also asserts an interest in the cash collateral that is junior to Pathfinder 501's interest pursuant to a Deed of Trust, Assignment of Rents, and Security Agreement. The Loan matured on November 1, 2021. On October 20, 2022, Pathfinder filed a Complaint and Verified Ex Parte Motion for Order Appointing Receiver in the District Court for Weld County, Case No. 2022CV30788. On October 24, 2022, the State Court appointed Randel Lewis of Foundation, Ltd. as Receiver. The Receiver did not take possession of the Property and instead managed the Debtor's cash, working with the Debtor's property management team. Crismon sought to foreclose on the Property. In accordance with Colorado law, the foreclosure sale date was set for December 14 at 10 a.m. Before the foreclosure sale, the Debtor filed for protection under chapter 11 of the Bankruptcy Code and initiated the bankruptcy case. The Debtor is directed to provide Pathfinder with a complete accounting, on a monthly basis, of all revenue, expenditures, and collections through the filing of the Debtor's Monthly Operating Reports. A copy of the order is available at https://urlcurt.com/u?l=HVWBnZ from PacerMonitor.com. About Greeley Land, LLC Greeley Land, LLC, an apartment building operator, filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Colo. Case No. 22-14864) on Dec. 13, 2022, listing $10 million to $50 million in both assets and liabilities. Judge Michael E. Romero presides over the case. Michael J. Pankow, Esq., and Amalia Y. Sax-Bolder, Esq., at Brownstein Hyatt Farber Schreck, LLP are the Debtor's bankruptcy attorneys. GREEN DISTRICT: Charity Bird Named Subchapter V Trustee ------------------------------------------------------- The Acting U.S. Trustee for Region 8 appointed Charity Bird of Kaplan, Johnson, Abate, & Bird as Subchapter V trustee for Green District Franchisee Parent, Inc. Ms. Bird will be paid an hourly fee of $300 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Bird declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Charity Bird Kaplan, Johnson, Abate, & Bird 710 W. Main Street, 4th Floor Louisville, KY 40202 Phone: (502) 540-8285 Email: cbird@kaplanjohnsonlaw.com About Green District Franchisee Parent Green District Franchisee Parent, Inc. is a Delaware corporation with its principal office located at 225 South 5th Street in Louisville, Ky. GDFP operates nine Green District restaurants in Kentucky, Indiana, Ohio and Colorado. The Green District restaurants are a casual fast-food restaurant chain offering food products focused on salads and healthy fare. GDFP currently employs approximately 168 employees in its operations. Employees are paid every two weeks and the Debtor uses a third-party, NextHR Solutions, to process and pay wages, payroll taxes and any wage-related withholdings. Equity interests in GDFP consist of preferred and common shares of stock. Four individuals own common stock in the company, and CGGD Franchisee, LP owns all the preferred stock in the company. CGGD Franchisee, LP is also the holder of a convertible promissory note from GDFP dated April 15, 2022 in the face amount of $15,000,000.00. The company's affairs are managed by a board of directors consisting of both common shareholders and representatives of the preferred shareholder. Chris Furlow is a director, owner of common shares, the chief development officer and designated representative of GDFP. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Ky. Case No. 23-31922) on Aug. 18, 2023, with $1 million to $10 million in assets and $10 million to $50 million in liabilities. Chris Furlow, director, signed the petition. Judge Joan A Lloyd oversees the case. Dean A. Langdon, Esq., at Delcotto Law Group, PLLC, represents the Debtor as bankruptcy counsel. GREENBERG GOURMET: Court OKs Cash Collateral Access Thru Sept 30 ---------------------------------------------------------------- The U.S. Bankruptcy Court for the District of Maryland, Greenbelt Division, authorized Greenberg Gourmet, LLC to use cash collateral on an interim basis in accordance with the budget, through September 30, 2023. PNC Bank, N.A. asserts a secured claim against the Debtor pursuant to a term loan promissory note, and a UCC-1 Financing Statement filed with the Maryland State Department of Assessments and Taxation. PNC asserts an unpaid balance as of the Petition Date in the amount of approximately $93,914, exclusive of fees, costs and amounts that PNC is owed pursuant to the Business Access Line of Credit Loan. PNC asserts a security interest in and lien upon, among other things, all accounts receivable, inventory, equipment, and the proceeds of the foregoing. As adequate protection for the Debtor's use of the cash collateral, from and after the Petition Date, and any diminution of the value of the cash collateral arising on account of the Debtor's use thereof, PNC Bank, N.A. will receive adequate protection payments of $1,491, per month, for the months of August and September 2023. To the extent the cash collateral is used by the Debtor and such use results in a diminution of the value of the cash collateral, PNC is entitled, pursuant to Sections 361(2) and 363(c)(2) of the Bankruptcy Code, a replacement lien in and to all post-petition assets of the Debtor, to the same extent and with the same priority as PNC's interest in the Pre-Petition Collateral. The liens and security interests granted to PNC, including the Adequate Protection Liens, will become and are duly perfected without the necessity for the execution, filing or recording of financing statements, security agreements and other documents which might otherwise be required pursuant to applicable non-bankruptcy law for the creation or perfection of such liens and security interests. A further interim hearing on the matter is set for September 28 at 11 a.m. A copy of the order is available at https://urlcurt.com/u?l=3StvGx from PacerMonitor.com. The Debtor projects $101,000 in gross revenue and $80,317 in total expenses for the period from September 1 to September 30, 2023. About Greenberg Gourmet Greenberg Gourmet, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Md. Case No. 23-15301) on Julu 28, 2023. In the petition signed by Lee G. Greenberg, managing member, the Debtor disclosed up to $100,000 in assets and up to $500,000 in liabilities. Judge Maria Elena Chavez-Ruark oversees the case. Craig M. Palik, Esq., at McNamee Hosea, P.A., represents the Debtor as legal counsel. GRS RESTAURANT: Wins Cash Collateral Access on Final Basis ---------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of California, San Francisco Division, authorized GRS Restaurant Group, Inc. to use cash collateral on a final basis in accordance with the budget and its agreement with Comerica Bank. As previously reported by the Troubled Company Reporter, on December 29, 2014, Comerica filed a UCC Financing Statement with the California Secretary of State as File No. 15-7443154630 identifying as collateral all personal property of the Debtor including but not limited to all identified tangibles as well as general intangibles. The parties agreed that GRS may use cash collateral solely to pay expenses incurred in the ordinary course of its business in amounts not to exceed the line item expenses provided in the Budget, with a 20% variance. Consent to use of the cash collateral arises upon approval of the Cash Collateral Stipulation by the Court in an order entered on the docket, for a term ending on the earliest of: a. 5pm PST October 31, 2023; b. Unless Comerica and GRS extend the expiration date by written agreement; and c. Approval of the Cash Collateral Stipulation by the Court will constitute authority by the Court that the parties may extend the Stipulation on similar terms without the necessity or requirement of further Court approval. As a grant of adequate protection, GRS will grant Comerica valid, enforceable, and perfected replacement liens on, and security interests in, any and all of GRS's rights, title, and/or interest in and to all of its tangible and intangible assets, existing and acquired on or after the Petition Date. The Replacement Liens will be deemed to have attached retroactive as of the Petition Date and will have the same validity, priority, and extent as Comerica's prepetition security interests in the Prepetition Collateral, but will be subordinate to the (i) fees and expenses of a Chapter 7 trustee alone for the trustee's compensation and not for any professionals of the Chapter 7 trustee; and, (ii) fees and expenses of the Subchapter V Trustee up to the amount of $1,000 per month that is being budgeted as an Expense Addition. As further adequate protection, GRS will grant Comerica valid, enforceable, and perfected replacement liens on, and security interests in, any and all of GRS's rights, title, and/or interest in and to all of its tangible and intangible assets, existing and acquired on or after the Petition Date. The Replacement Liens will be deemed to have attached retroactive as of the Petition Date and will have the same validity, priority, and extent as Comerica's prepetition security interests in the Prepetition Collateral, but will be subordinate to the (i) fees and expenses of a Chapter 7 trustee alone for the trustee's compensation and not for any professionals of the Chapter 7 trustee; and, (ii) fees and expenses of the Subchapter V Trustee up to the amount of $1,000 per month that is being budgeted as an Expense Addition. GRS will pay Comerica not less than $4,500 per month, as set forth in the Budget. The Replacement Liens granted by GRS to Comerica under the Amended Cash Collateral Stipulation will be subordinate to the (i) fees and expenses of a Chapter 7 trustee; (ii) fees and expenses of any professionals of the Chapter 7 trustee; and (iii) fees and expenses of the Subchapter V Trustee up to the amount of $1,000 per month that is being budgeted as an Expense Addition. A copy of the court's order is available at https://urlcurt.com/u?l=BGl6M5 from PacerMonitor.com. About GRS Restaurant GRS Restaurant Group, Inc., doing business as Stacks, operates in the restaurant industry. It is based in Burlingame, Calif. The Debtor filed Chapter 11 petition (Bankr. N.D. Calif. Case No. 23-30430) on June 30, 2023, with $100,000 to $500,000 in assets and $1 million to $10 million in liabilities. Gina Klump, Esq., at the Law Office of Gina R. Klump, has been appointed as Subchapter V trustee. Judge Hannah L. Blumenstiel oversees the case. Matthew D. Metzger, Esq., at Belvedere Legal, PC represents the Debtor as counsel. GRUPO HIMA SAN: Hires Luis R. Carrasquillo as Financial Advisor --------------------------------------------------------------- Grupo Hima San Pablo, Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the District of Puerto Rico to employ Pietrantoni Mendez & Alvarez LLC as special counsel. The firm will provide legal advice and assistance regarding general corporate, regulatory, compliance and litigation matters. The firm will be paid at these rates: Attorneys $230 to $405 per hour Associates $160 to $225 per hour Paralegals $120 to $130 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. As disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Jaime E. Santos, Esq. PIETRANTONI MENDEZ & ALVAREZ LLC Popular Center 19th Floor 208 Ponce de Leon Ave. San Juan, PR 00918 Tel: (787) 274-1212 Fax: (787) 274-1470 Email: info@pmalaw.com About Grupo Hima San Pablo, Inc. Grupo HIMA San Pablo, Inc. serves as a diversified healthcare services holding company pursuant to a corporate reorganization of several businesses related by common ownership. Through its subsidiaries and affiliates, the Company primarily owns and operates hospital facilities and other healthcare related businesses. As of August 2023, the HIMA GROUP operates four hospitals, with over 1,200 licensed beds, including an Oncological Hospital, a multi-specialty physician practice management company, Home Care Service (including infusion therapies and wound care), a free-standing Ambulatory Center and a 16-Ambulance Service Company. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. P.R. Case No. 23-02510-EAG11) on August 15, 2023. In the petition signed by Armando J. Rodriguez-Benitez, chief executive officer, the Debtor disclosed up to $1 billion in assets and up to $500,000 in liabilities. Judge Enrique S. Lamoutte Inclan oversees the case. Wigberto Lugo Mender, Esq., at Lugo Mender Group, LLC, represents the Debtor as legal counsel. Pietrantoni Mendez & Alvarez LLC as special counsel. GRUPO HIMA SAN: Hires Pietrantoni Mendez as Special Counsel ----------------------------------------------------------- Grupo Hima San Pablo, Inc. and its affiliates seek approval from the U.S. Bankruptcy Court for the District of Puerto Rico to employ Pietrantoni Mendez & Alvarez LLC as special counsel. The firm will provide legal advice and assistance regarding general corporate, regulatory, compliance and litigation matters. The firm will be paid at these rates: Attorneys $230 to $405 per hour Associates $160 to $225 per hour Paralegals $120 to $130 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. As disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Jaime E. Santos, Esq. PIETRANTONI MENDEZ & ALVAREZ LLC Popular Center 19th Floor 208 Ponce de Leon Ave. San Juan, PR 00918 Tel: (787) 274-1212 Fax: (787) 274-1470 Email: info@pmalaw.com About Grupo Hima San Pablo, Inc. Grupo HIMA San Pablo, Inc. serves as a diversified healthcare services holding company pursuant to a corporate reorganization of several businesses related by common ownership. Through its subsidiaries and affiliates, the Company primarily owns and operates hospital facilities and other healthcare related businesses. As of August 2023, the HIMA GROUP operates four hospitals, with over 1,200 licensed beds, including an Oncological Hospital, a multi-specialty physician practice management company, Home Care Service (including infusion therapies and wound care), a free-standing Ambulatory Center and a 16-Ambulance Service Company. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. P.R. Case No. 23-02510-EAG11) on August 15, 2023. In the petition signed by Armando J. Rodriguez-Benitez, chief executive officer, the Debtor disclosed up to $1 billion in assets and up to $500,000 in liabilities. Judge Enrique S. Lamoutte Inclan oversees the case. Wigberto Lugo Mender, Esq., at Lugo Mender Group, LLC, represents the Debtor as legal counsel. Pietrantoni Mendez & Alvarez LLC as special counsel. GRUPO HIMA: Court Directs U.S. Trustee to Appoint PCO ----------------------------------------------------- Judge Enrique Lamoutte of the U.S. Bankruptcy Court for the District of Puerto Rico directed the U.S. Trustee for Region 21 to appoint a patient care ombudsman for Grupo HIMA San Pablo, Inc. The bankruptcy judge finds that the provisions of Section 333(a)(1) of the Bankruptcy Code for appointment of a patient care ombudsman apply to Grupo HIMA after having filed its bankruptcy petition, indicating that it operates a health care business. About Grupo HIMA San Pablo Grupo HIMA San Pablo, Inc. serves as a diversified healthcare services holding company pursuant to a corporate reorganization of several businesses related by common ownership. Through its subsidiaries and affiliates, the company primarily owns and operates hospital facilities and other healthcare related businesses. As of August 2023, the HIMA GROUP operates four hospitals, with over 1,200 licensed beds, including an oncological hospital, a multi-specialty physician practice management company, home care service (including infusion therapies and wound care), a free-standing ambulatory center and a 16-ambulance service company. Grupo HIMA San Pablo filed Chapter 11 petition (Bankr. D. P.R. Case No. 23-02510) on Aug. 15, 2023, with $500 million to $1 billion in assets and $100 million to $500 million in liabilities. Armando J. Rodriguez-Benitez, chief executive officer, signed the petition. Judge Enrique S. Lamoutte Inclan oversees the case. Wigberto Lugo Mender, Esq., at Lugo Mender Group, LLC, represents the Debtor as legal counsel. HEART O'GOLD: May Use Cash Collateral on Final Basis ---------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Ohio, Eastern Division, Canton, authorized Heart O'Gold Home Care, LLC to continue using cash collateral on a final basis in accordance with the budget. The Debtor requires the use of cash collateral to continue its business operations and to pay its regular daily expenses including employees' wages, utilities, and its other costs of doing business. Prior to the commencement of the Debtor's Chapter 11 case, the McKesson Corporation and Huntington National Bank made loans and advances to the Debtor, pursuant to the terms of certain credit, loan agreement and promissory notes. The Debtor has stated that it desires to pursue a financial restructuring in cooperation with the Lenders and that the Debtor believes that the best method to effectuate such a financial restructuring is by means of a chapter 11 case for the Debtor. As adequate protection, the Lenders are granted: (i) valid, binding, enforceable and perfected postpetition replacement liens in the same validity, order of priority and extent (if any) as the Lenders' prepetition security interests in all of the Debtor's assets. A copy of the court's order is available at https://urlcurt.com/u?l=NnGWZl from PacerMonitor.com. About Heart O'Gold Home Care, LLC Heart O'Gold Home Care, LLC is a provider of home health care services. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ohio Case No. 23-60917-tnap) on August 2, 2023. In the petition signed by Heidi Nussbaum Frenz, managing member, the Debtor disclosed up to $50,000 in assets and up to $1 million in liabilities. Judge Tiiara N.A. Patton oversees the case. Anthony J. DeGirolamo, Esq. represents the Debtor as legal counsel. I.C. ELECTRIC: Hires Tishman Fuscaldo as Legal Counsel ------------------------------------------------------ I.C. Electric, Inc. seeks approval from the U.S. Bankruptcy Court for the Western District of Pennsylvania to employ Leech Tishman Fuscaldo & Lampl as counsel. The firm will render these services: (a) advise the Debtor regarding the requirements of the Bankruptcy Court, Bankruptcy Code, Bankruptcy Rules and the rules promulgated by the Office of the United States Trustee as they pertain to the Debtor' cases; (b) advise the Debtor with respect to their rights, powers and duties, and take all necessary action to protect and preserve the Debtor' estates; (c) conduct examinations of witnesses, claimants or adverse parties and represent the Debtor in any adversary proceeding arising under the Bankruptcy Code; (d) prepare legal papers; (e) review the nature and validity of any liens asserted against the Debtor' properties and advise the Debtor concerning the enforceability of such liens; (f) counsel the Debtor in connection with the negotiation and promulgation of a plan of reorganization, and take such other further actions as may reasonably be required in connection with the plan during the Debtor' Chapter 11 cases; (g) advise the Debtor concerning executory contract and unexpired lease assumptions, assignments, rejections, and lease restructurings and recharacterizations; and (h) perform such other reasonable and necessary legal services in connection with these Chapter 11 cases. The firm will be paid at these hourly rates: Partner $305 to $705 per hour Associate Time $200 to $370 per hour Counsel/Of Counsel $325 to $690 per hour Paralegals and Law Clerks $125 to $255 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. The Debtor paid the firm a retainer of $15,034. The firm is currently owed $3,921.50 in prepetition fees. Crystal H. Thornton-Illar, Esq., a partner at Leech Tishman Fuscaldo & Lampl, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: David Lampl, Esq. Crystal H. Thornton-Illar, Esq. LEECH TISHMAN FUSCALDO & LAMPL LLC 525 William Penn Place, 28th Floor Pittsburgh, PA 15219 Tel: (412) 261-1600 Email: jsteiner@leechtishman.com cthornton-illar@leechtishman.com About I.C. Electric, Inc. I.C. Electric, Inc. is the owner and operator of an electric company that provides electrical contracting services. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Pa. Case No. 23-10414-JCM) on August 10, 2023. In the petition signed by Jerry Zreliak, president, the Debtor disclosed up to $50,000 in assets and up to $10 million in liabilities. Crystal H. Thornton-Illar, Esq., at Leech Tishman Fuscaldo & Lampl, LLC, represents the Debtor as legal counsel. IGLESIAS EYE: Files Emergency Bid to Use Cash Collateral -------------------------------------------------------- Iglesias Eye Associates LLC d/b/a Gardens Eye Institute asks the U.S. Bankruptcy Court for the Southern District of Florida, West Palm Beach Division, for authority to use cash collateral and provide adequate protection. First National Bank of Pennsylvania may claim an interest in the Debtor's cash and accounts by virtue of a US Small Business Administration Note dated September 2, 2021, executed by the Debtor, as borrower, in favor of First Bank, in the principal amount of $748,100. The Note was secured by a Security Agreement -- Commercial dated September 2, 2021, executed by the Debtor, as borrower in favor of First Bank. The Security Agreement provided for First Bank to have a secured interest in, inter alia, the Debtor's accounts and their proceeds. A UCC Financing Statement was filed on behalf of First Bank on September 7, 2021. As adequate protection, First Bank will be granted first priority, priority properly perfected, valid and enforceable security interest in post-position cash collateral. The Replacement Lien is and will be in addition to the pre-petition liens and will be properly perfected, valid and enforceable liens without any further action by the Debtor or First Bank without the execution, filing a recordation of any financing statements, security agreements mortgages or other documents or instruments. A copy of the Debtor's motion and budget is available at https://urlcurt.com/u?l=LvTtfr from PacerMonitor.com. The Debtor projects total expenses, on a monthly basis, as follows: $42,530 for September 2023; $45,120 for October 2023; and $41,372 for November 2023. About Iglesias Eye Associates LLC Iglesias Eye Associates LLC operates an ophthalmologist practice at one location with an address of 11641 Kew Gardens Avenue, Ste. 209, Palm Beach Gardens, FL 33410. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 23-17017-EPK) on August 31, 2023. In the petition signed by Scott Mikalajunas, chief financial officer, the Debtor disclosed $100,000 in assets and $1 million in liabilities. Brian S. Behar, Esq., at Benhar, Gutt & Glazer, PA, represents the Debtor as legal counsel. INDUSTRIAL AUTHORITY: Case Summary & 20 Top Unsecured Creditors --------------------------------------------------------------- Debtor: The Industrial Authority of Mayfield-Graves County d/b/a Industrial Authority of Mayfield, KY 201 East College Street Mayfield, KY 42066 Chapter 11 Petition Date: September 4, 2023 Court: United States Bankruptcy Court Western District of Kentucky Case No.: 23-50409 Debtor's Counsel: Charity S. Bird, Esq. KAPLAN JOHNSON ABATE & BIRD LLP 710 West Main Street Fourth Floor Louisville, KY 40202 Tel: (502) 540-8285 Fax: (502) 540-8282 Email: cbird@kaplanjohnsonlaw.com Estimated Assets: $10 million to $50 million Estimated Liabilities: $10 million to $50 million The petition was signed by Darvin D. Towery as chairman. A full-text copy of the petition is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/BV4ZUBI/The_Industrial_Authority_of_Mayfield-Graves__kywbke-23-50409__0001.0.pdf?mcid=tGE4TAMA List of Debtor's 20 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount 1. DC Electric of $677,439 Benton, Inc. 1262 Dyke Road Benton, KY 42025 2. East & Westbrook $2,962,433 Construction Co., Inc. Jonathan Paul Westbrook 4608 Old LaGrange Road Buckner, KY 40010 3. Eskola LLC $571,878 2418 N Morelock Road Morristown, TN 37814-5580 4. The Federal $628,145 Materials Company, LLC 2425 Wayne Sullivan Drive Paducah, KY 42003 5. Ferguson Enterprises, Inc. $515,695 751 Lakefront Commons Newport News, VA 23606 6. Graves County Economic $1,162,874 Development Inc. 201 E College St. Mayfield, KY 42066 7. Hannan Supply Co. Inc. $255,260 1565 N. 8th St. Paducah, KY 42001 8. Jim Smith Contracting $1,447,276 Company, LLC 1108 Dover Road Grand Rivers, KY 42045 9. Marcum Engineering, LLC $214,290 500 S. 17th Street Paducah, KY 42002 10. Mills Supply Co. $716,307 PO Box 19015 Louisville, KY 40259-0015 11. Morsey Constructors, LLC $1,665,958 777 Dr. Smith Lane PO Box 558 Calvert City, KY 42029-0558 12. Murtco, Inc. $1,569,842 2900 Irvin Cobb Dr Paducah, KY 42003 13. Pinnacle, Inc. $13,862,366 Attn: Dennis W. Smith 536 Eagle Lake Drive Benton, KY 42025 14. PMS, Inc. $573,032 2620 Old Orchard Jackson, MO 63755-3824 15. Power Equipment $325,688 Co. of Memphis 3050 Broad Ave 38112-3004 16. Premier Fire & $296,146 Security, Inc. 1251 North 6th Street Paducah, KY 42001 17. R. L. Craig $1,128,043 Company, Inc. 1154 Commonwealth Drive Louisville, KY 40299 18. Shawn Jones $234,654 Masonry, LLC 300 C.C. Lowry Drive Murray, KY 42071 19. Triangle Enterprises, Inc. $598,393 3630 Cairo Road Paducah, KY 42001 20. Wallace Electrical $1,190,394 Systems, LLC David Louis Wallace 2853 Ken Gray Blvd Suite 4 West Frankfort, IL 62896 INTELIGLAS CORPORATION: Seeks to Hire Bayard PA as Legal Counsel ---------------------------------------------------------------- InteliGlas Corporation seeks approval from the U.S. Bankruptcy Court for the District of Delaware to employ Bayard, PA as co-counsel with Lazare Potter Giacovas & Moyle, LLP. The firm's services include: (a) assisting the Debtor with the preparation of legal papers; (b) providing legal advice with respect to the powers and duties of the Debtor in the continued operation of its business and management of its property; (c) appearing in court; (d) attending meetings and negotiating with representatives of creditors, the U.S. trustee, the Subchapter V trustee, and other parties involved in the Debtor's Chapter 11 case; and (e) other legal services. The hourly rates of the firm's counsel and staff are as follows: Evan T. Miller $675 Steven D. Adler $475 Rebecca Hudson, Paralegal $305 In addition, the firm will seek reimbursement for expenses incurred. The Debtor paid Bayard a retainer of $9,238. Evan Miller, Esq., an attorney at Bayard, 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: Evan T. Miller, Esq. Bayard, PA 600 N. King St., Ste. 400 Wilmington, DE 19801 Telephone: (302) 429-4227 Email: EMiller@bayardlaw.com About InteliGlas Corporation InteliGlas Corporation is a secure AI cloud platform that fully integrates all building systems, provides sensory-capabilities, and puts all the data into the artificial intelligence system inteliGlas AI. The Debtor filed Chapter 11 petition (Bankr. D. Del. Case No. 23-11124) on Aug. 9, 2023, with $243,273 in assets and $3,177,648 in liabilities. Jami Nimeroff, Esq., at Brown McGarry Nimeroff, LLC has been appointed as Subchapter V trustee. Judge J. Kate Stickles oversees the case. The Debtor tapped Evan T. Miller, Esq., at Bayard, PA and Michael T. Conway, Esq., at Lazare Potter Giacovas & Moyle LLP as legal counsel. INTELIGLAS CORPORATION: Seeks to Tap Lazare as Legal Counsel ------------------------------------------------------------ InteliGlas Corporation seeks approval from the U.S. Bankruptcy Court for the District of Delaware to employ Lazare Potter Giacovas & Moyle, LLP as bankruptcy counsel. The Debtor requires legal counsel to: (a) assist with the preparation of legal papers; (b) provide legal advice with respect to the powers and duties of the Debtor in the continued operation of its business and management of its property; (c) appear in court; (d) attend meetings and negotiate with representatives of creditors, the U.S. trustee, the Subchapter V trustee, and other parties involved in the Debtor's Chapter 11 case; and (e) provide other legal services. The hourly rates of the firm's counsel and staff are as follows: Michael T. Conway $650 Jacob Englander $400 Amaranta Williams, Paralegal $305 In addition, the firm will seek reimbursement for expenses incurred. The Debtor paid the firm a retainer of $50,000. Michael Conway, Esq., an attorney at Lazare Potter Giacovas & Moyle, disclosed in a court filing that his firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Michael T. Conway, Esq. Lazare Potter Giacovas & Moyle, LLP 747 Third Avenue New York, NY 10017 Telephone: (212) 758-9300 Facsimile: (212) 888-0919 Email: mconway@lpgmlaw.com About InteliGlas Corporation InteliGlas Corporation is a secure AI cloud platform that fully integrates all building systems, provides sensory-capabilities, and puts all the data into the artificial intelligence system inteliGlas AI. The Debtor filed Chapter 11 petition (Bankr. D. Del. Case No. 23-11124) on Aug. 9, 2023, with $243,273 in assets and $3,177,648 in liabilities. Jami Nimeroff, Esq., at Brown McGarry Nimeroff, LLC has been appointed as Subchapter V trustee. Judge J. Kate Stickles oversees the case. The Debtor tapped Evan T. Miller, Esq., at Bayard, PA and Michael T. Conway, Esq., at Lazare Potter Giacovas & Moyle LLP as legal counsel. IYS VENTURES: Court OKs Cash Collateral Access Thru Sept 30 ----------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, granted IYS Ventures, LLC authority to use cash collateral, on an interim basis through September 30, 2023. As previously reported by the Troubled Company Reporter, the Debtor seeks cash collateral access to fund the payment of rent and gasoline and the various management companies which pay the necessary expenses associated with the operation of its business. These creditors may assert a security interest in and to the Collateral: Byzfunder NY LLC, Fox Capital Group, Inc., Itria Ventures, Samson Funding, and The Huntington National Bank. Investigation into the priority and security of the Lien Claimants is ongoing, however, the following represents the approximate claim and basis for the secured liens: a. Byzfunder may assert a security interest in the Collateral pursuant to a Revenue Purchase Agreement and Security Agreement dated October 25, 2022. Byzfunder's scheduled claim is in the amount of $153,986. b. Fox may assert a security interest in the Collateral pursuant to a Future Receivables Sale and Purchase Agreement dated November 23, 2022. Fox's scheduled claim is in the amount of $444,005. c. Itria asserts a security interest in the Collateral pursuant to an agreement. Itria's scheduled claim is in the amount of $1,492,109, which is disputed in part by the Debtor. d. Samson may assert a security interest in the Collateral by virtue of multiple Revenue Purchase Agreement and Security Agreement dated, inter alia, April 8, 2022, November 21, 2022, December 2, 2022, December 23, 2022, and March 2, 2023. Samson's scheduled claim is in the amount of $4,091,514. e. Huntington asserts a security interest in the Collateral by virtue of an Order on Motion for Prejudgment Attachment dated March 16, 2023, in the case more commonly known as The Huntington National Bank v. IYS Ventures, LLC, et al., Case No. 23- CV-01368 pending in the United States District Court for the Northern District of Illinois. The court ruled that as partial adequate protection to the Lien Claimants and any other entity claiming a security interest in the Collateral, for the use of collateral, which includes the Debtor's equipment, fixtures, inventory, accounts, instruments, chattel paper, general intangibles, now owned and hereafter acquired together with all replacements, accessions, proceeds and products and all proceeds of the Collateral, including cash and cash equivalent pursuant to the terms of the interim Cash Collateral Order, the Lien Claimants are granted and will have replacement liens in and to the Collateral which will have the same validity, perfection, and enforceability as the pre petition liens held by the Lien Claimants without any further action by the Debtor or the Lien Claimants and without executing or recording any financing statements, security agreements, or other documents. A copy of the court's order and the Debtor's budget is available at https://urlcurt.com/u?l=WsMXBi from PacerMonitor.com. The Debtor projects total operating disbursements, on a weekly basis, as follows: $2,040,584 for the week ending September 9, 2023; $1,876,172 for the week ending September 16, 2023; $2,038,184 for the week ending September 23, 2023; and $1,858,865 for the week ending September 30, 2023. About IYS Ventures IYS Ventures LLC leases, owns and operates gas stations located in Illinois, Minnesota, Michigan, Indiana, Ohio, South Dakota, Virginia, Wisconsin, and Louisiana. The Debtor filed a petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 23-06782) on May 23, 2023. In the petition filed by Muwafak Rizek, as manager and member, the Debtor reported assets between $1 million and $10 million and liabilities between $10 million and $50 million. Honorable Bankruptcy Judge David D. Cleary oversees the case. The Debtor is represented by Gregory K Stern, Esq. at Gregory K. Stern, P.C., represents the Debtor as legal counsel. J & D RESTAURANT: Court OKs Deal on Cash Collateral Access ---------------------------------------------------------- The U.S. Bankruptcy Court for the District of Arizona authorized J & D Restaurant Group, LLC to use cash collateral on an interim basis in accordance with its agreement with the U.S. Small Business Administration, through November 27, 2023. As previously reported by the Troubled Company Reporter, prior to the Petition Date, on May 15, 2020, the Debtor executed an SBA Note, pursuant to which the Debtor obtained a loan in the amount of $150,000. The terms of the Note require the Debtor to pay principal and interest payments of $731 every month beginning 12 months from the date of the Note over the 30 year term of the SBA Loan. The SBA Loan has an annual rate of interest of 3.75% and may be prepaid at any time without notice of penalty. As evidenced by the Security Agreement and a validly recorded UCC-1 filing on May 30, 2020 as Filing Number 2020-003-0815-6, the SBA Loan is secured by all tangible and intangible personal property. The SBA has agreed to permit the Debtor to use cash collateral consistent with the terms and conditions, which have been negotiated at arms length for reasonably equivalent value and are fair and reasonable under the circumstance. The Parties agreed that any and all of the Personal Property Collateral constitutes the cash collateral of the SBA, pursuant to 11 U.S.C. Section 363(a). The Debtor represented to the SBA that it will make no additional or unauthorized use of the cash collateral retroactive from the Petition Date until November 27, 2023, or the entry of an Order Confirming the Debtor's Plan of Reorganization, whichever occurs earlier, for ordinary and necessary expenses as set forth in the projections, with a 10% variance. The Debtor's use of cash collateral may be renewed upon subsequent stipulation with SBA or by order of the Court. As adequate protection, retroactive to the Petition Date, SBA will receive a replacement lien on all post-petition revenues of the Debtor to the same extent, priority, validity, and enforceability that its lien attached to the cash collateral as of the Petition Date. The scope of the replacement lien is limited to the amount (if any) that cash collateral diminishes post-petition as a result of the Debtor's post-petition use of cash collateral. The replacement lien is valid, perfected and enforceable and will not be subject to dispute, avoidance, or subordination, and this replacement lien need not be subject to additional recording. A copy of the order is available at https://urlcurt.com/u?l=1O2mcN from PacerMonitor.com. About J & D Restaurant J & D Restaurant Group, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Ariz. Case No. 23-05054) on July 27, 2023, with $50,001 to $100,000 in assets and $500,001 to $1 million in liabilities. Judge Daniel P. Collins oversees the case. Judge Daniel P. Collins oversees the case. Allan D. NewDelman, Esq., at Allan D. NewDelman, P.C. represents the Debtor as legal counsel. JOANN INC: Incurs $73.3 Million Net Loss in Second Quarter ---------------------------------------------------------- JOANN Inc. filed with the Securities and Exchange Commission its Quarterly Report on Form 10-Q disclosing a net loss of $73.3 million on $453.8 million of net sales for the 13 weeks ended July 29, 2023, compared to a net loss of $56.9 million on $463.3 million of net sales for the 13 weeks ended July 30, 2022. For the 26 weeks ended July 29, 2023, the Company reported a net loss of $127.5 million on $931.9 million of net sales compared to a net loss of $92 million on $961.3 million of net sales for the 26 weeks ended July 30, 2022. As of July 29, 2023, the Company had $2.26 billion in total assets, $563.3 million in total current liabilities, $1.09 billion in long-term debt, $714.8 million in long-term operating lease liabilities, $20.4 million in long-term deferred income taxes, $29.2 million in other long-term liabilities, and a total shareholders' deficit of $162.2 million. JoAnn said, "We have three principal sources of liquidity: cash and cash equivalents on hand, cash from operations and available borrowings under our ABL Facility. In addition, we believe that we have the ability to obtain alternative sources of financing, if necessary. We believe that our cash and cash equivalents on hand, cash from operations and availability under our ABL Facility will be sufficient to cover our working capital, capital expenditure and debt service requirement needs, as well as dividend payments and share repurchases, if any, for the next twelve months, as well as the foreseeable future. Subject to market conditions, we may from time to time repurchase our outstanding debt. As of July 29, 2023, we were in compliance with all covenants under our debt facilities and notes." A full-text copy of the Form 10-Q is available for free at: https://www.sec.gov/ix?doc=/Archives/edgar/data/1834585/000095017023045799/joan-20230729.htm About JOANN JOANN operates in the fabric and sewing industry with one of the largest assortments of arts and crafts products. JOANN has transformed itself into a fully-integrated, digitally-connected omni-channel retailer. JOANN reported a net loss of $200.6 million for the year ended Jan. 28, 2023. * * * As reported by the TCR on July 14, 2023, S&P Global Ratings lowered its ratings on U.S.-based creative products retailer Joann Inc. to 'CCC' from 'CCC+'. The outlook is negative, reflecting the risk S&P could lower its rating on Joann if liquidity deteriorates or the company pursues a debt transaction that S&P views as tantamount to default. KEYS CONTRACTING: Aleida Molina Named Subchapter V Trustee ---------------------------------------------------------- The U.S. Trustee for Region 21 appointed Aleida Martinez Molina, Esq., as Subchapter V trustee for Keys Contracting Services, Inc. Ms. Molina will be paid an hourly fee of $450 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Molina declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Aleida Martinez Molina, Esq. 2121 NW 2nd Avenue, Suite 201 Miami, FL 33127 Telephone: (305) 297-1878 Email: Martinez@subv-trustee.com About Keys Contracting Keys Contracting Services, Inc. is a construction company that specialize in modular homes, remodeling, pools, water and plumbing, custom homes, and commercial buildings. It is based in Marathon, Fla. Keys Contracting Services filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Fla. Case No. 23-16607) on Aug. 19, 2023, with $231,262 in assets and $2,510,001 in liabilities. J. Chris Gratton, president, signed the petition. David R. Softness, Esq., at David R. Softness, PA represents the Debtor as legal counsel. KEYS CONTRACTING: Seeks to Tap David R. Softness as Legal Counsel ----------------------------------------------------------------- Keys Contracting Services, Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ the law firm of David R. Softness, PA. 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 and properties; (b) attend meetings and negotiate with representatives of creditors and other parties involved in the Debtor's Chapter 11 case; (c) take all necessary action to protect and preserve the Debtor's estate; (d) prepare legal papers; (e) negotiate and prepare, on the Debtor's behalf, a plan of reorganization, disclosure statement, and all related agreements or documents, and take any necessary action to obtain confirmation of such plan; (f) represent the Debtor in connection with obtaining post-petition loans; (g) advise the Debtor in connection with any potential sale of assets; (h) appear before the bankruptcy court, any appellate courts, and the U.S. trustee; and (i) perform all other necessary legal services in connection with the bankruptcy case. The firm received $15,000 for pre-bankruptcy services. For post-petition legal services, the firm has agreed to accept a general retainer of $45,000. David Softness, Esq., disclosed in a court filing that his firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: David R. Softness, Esq. David R. Softness PA 201 South Biscayne Boulevard, Suite 2740 Miami, FL 33131 Telephone: (305) 341-3111 Email: david@softnesslaw.com About Keys Contracting Services Keys Contracting Services, Inc. is a construction company that specializes in modular homes, remodeling, pools, water and plumbing, custom homes, and commercial buildings. It is based in Marathon, Fla. Keys Contracting Services filed Chapter 11 petition (Bankr. S.D. Fla. Case No. 23-16607) on Aug. 19, 2023, with $231,262 in assets and $2,510,001 in liabilities. J. Chris Gratton, president, signed the petition. Judge Corali Lopez-Castro oversees the case. The law firm of David R. Softness PA represents the Debtor as counsel. LAKEVIEW ELECTRICAL: Seeks to Sell Vehicle for $19,500 ------------------------------------------------------ Lakeview Electrical Services, LLC asked the U.S. Bankruptcy Court for the Northern District of Alabama to sell a vehicle to John Dunn for $19,500. The vehicle -- a 2018 GMC Sierra 1500 -- is subject to a lien in favor of AmeriCredit Financial Services, Inc. in the amount of $18,007.94. Lakeview will use the proceeds to pay the balance owed to AmeriCredit, pay administrative expenses and fund a Chapter 11 plan of liquidation. The hearing on the proposed sale is scheduled for Sept. 21. About Lakeview Electrical Services Lakeview Electrical Services, LLC sought protection for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ala. Case No. 23-40006) on Jan. 3, 2023, with up to $50,000 in both assets and liabilities. Judge James J. Robinson presides over the case. Tameria S. Driskill, Esq., at Williams Driskill Huffstutler King, LLC represents the Debtor as counsel. LINDEN AUTO: Seeks Cash Collateral Access ----------------------------------------- Linden Auto Spa LLC asks the U.S. Bankruptcy Court for the District of New Jersey for authority to use cash collateral and provide adequate protection. The Debtor began operations in August 2015. Beginning in 2019, the Debtor experienced issues in managing the expenses of the business. The Debtor was further severely impacted by the COVID-19 Pandemic beginning in early 2020, as the Business is tied to vehicle travel and needs, the lack of any transportation in any significant way severely impacted the Business and its operations. On August 27, 2015, the Debtor entered into a loan agreement with The Mint National Bank, in the original amount of $1.075 million, which was secured by the Debtor's assets, including upon information and belief, cash collateral. Mint also holds a mortgage on the Business Premises. The Business incurred additional debts to the Internal Revenue Service and State of New Jersey Division of Taxation. In addition, the Debtor obtained short-term loans from Merchant Cash Advance creditors which provided short-term funds to cover expenses but negatively impacted the long-term financial operations of the Business. Prior to the Petition Date, the Debtor made efforts to resolve the Debtor's debt issues without success. The Debtor has made consistent improvements in management and financial management. The Mint National Bank holds a first perfected security interest in the Debtor's tangible and intangible personal property. The Debtor estimates that the amount due on the Mint Secured debt is approximately $1.2 million. The Debtor intends to adequately protect the Secured Creditor through periodic payments of $7,000 per month effective September 2023 and through a replacement lien to the extent of any diminution in its security interest, if required. A copy of the motion is available at https://urlcurt.com/u?l=Jgj2ZS from PacerMonitor.com. About Linden Auto Spa, LLC Linden Auto Spa, LLC operates an automobile car wash business at 1066 East Elizabeth Avenue, Linden, New Jersey 07036. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr D. N.J. Case No. 23-17265) on August 22, 2023. In the petition signed by Andrew A. Montoya, managing member, the Debtor disclosed up to $50,000 in assets and up to $10 million in liabilities. Judge Stacey L. Meisel oversees the case. Justin M Gillman, Esq., at Gillman, Bruton & Capone, LLC, represents the Debtor as legal counsel. LORDSTOWN MOTORS: Claims Filing Deadline Set for October 10 ----------------------------------------------------------- The U.S. Bankruptcy Court for the District of Delaware set Oct. 10, 2023, at 5:00 p.m. (prevailing Eastern Time) as the last date and time for persons and entities to file their proofs of claim against Lordstown Motors Corporation and its debtor affiliates. The Court also set Dec. 26, 2023, at 5:00 p.m. (Prevailing Eastern Time) as the deadline for governmental units to file their claims against the Debtors. All claimants must submit an original, written Proof of Claim that substantially conforms to the Proof of Claim Form so as to be actually received by Kurtzman Carson Consultants LLC by no later than 5:00 p.m. (prevailing Eastern Time) on or before the applicable Bar Date by: i) filing such Proof of Claim electronically through KCC's website at https://www.kccllc.net/lordstown under the link entitled "Submit Electronic Proof of Claim"; ii) mailing the original Proof of Claim by regular mail to: Lordstown Claims Processing Center c/o KCC 222 N. Pacific Coast Highway Suite 300 El Segundo, CA 90245; or iii) delivering such original Proof of Claim by overnight mail or messenger to: Lordstown Claims Processing Center c/o KCC 222 N. Pacific Coast Highway Suite 300 El Segundo, CA 90245 About Lordstown Motors Corp. Lordstown Motors Corp. -- http://www.lordstownmotors.com/-- is an electric vehicle OEM developing innovative light duty commercial fleet vehicles, with the Endurance all electric pickup truck as its first vehicle. It has engineering, research and development facilities in Farmington Hills, Mich. and Irvine, Calif. On June 27, 2023, Lordstown Motors Corp. and two affiliated debtors filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Lead Case No. 23-10831). The cases are pending before Judge Mary F. Walrath. The Debtors tapped White & Case, LLP and Richards, Layton & Finger, P.A. as bankruptcy counsels; Baker & Hostetler, LLP as special counsel; Jefferies, LLC as investment banker; KPMG, LLP as auditor; and Silverman Consulting as restructuring advisor. Kurtzman Carson Consultants, LLC is the Debtors' claims and noticing agent and administrative advisor. The U.S. Trustee for Regions 3 and 9 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The committee tapped Troutman Pepper Hamilton Sanders, LLP as legal counsel and Huron Consulting Group Inc. as financial advisor. LW HOUSTON VIII: Voluntary Chapter 11 Case Summary -------------------------------------------------- Debtor: LW Houston VIII, LLC 1560 Sawgrass Corporate Parkway Suite 479 Fort Lauderdale, FL 33323 Business Description: LW Houston is a Single Asset Real Estate debtor (as defined in 11 U.S.C. Section 101(51B)). Chapter 11 Petition Date: September 4, 2023 Court: United States Bankruptcy Court Southern District of Florida Case No.: 23-17136 Debtor's Counsel: Paul DeCailly, Esq. PAUL DECAILLY PO Box 17793 Clearwater FL 33762 Tel: (727) 824-7709 Email: pdecailly@dlg4me.com Estimated Assets: $1 million to $10 million Estimated Liabilities: $10 million to $50 million The petition was signed by Ted Doukas of 3 Big MMM, LLC, managing member of the Debtor. 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/KAG57MI/LW_Houston_VIII_LLC__flsbke-23-17136__0001.0.pdf?mcid=tGE4TAMA M.V.J. AUTO: Tarek Kiem Named Subchapter V Trustee -------------------------------------------------- The U.S. Trustee for Region 21 appointed Tarek Kiem, Esq., of Kiem Law, PLLC as Subchapter V trustee for M.V.J. Auto World, Inc. Mr. Kiem will be paid an hourly fee of $300 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Kiem declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Tarek Kiem, Esq. Kiem Law, PLLC 8461 Lake Worth Road, Suite 114 Lake Worth, FL 33467 Tel: (561) 600-0406 Email: tarek@kiemlaw.com About M.V.J. Auto M.V.J. Auto World, Inc. filed Chapter 11 petition (Bankr. S.D. Fla. Case No. 23-16612) on Aug. 21, 2023, with $100,001 to $500,000 in assets and liabilities. Judge Laurel M. Isicoff oversees the case. Timothy S. Kingcade, Esq., at Kingcade, Garcia & McMaken, P.A. represents the Debtor as legal counsel. MAYA J ATX: Voluntary Chapter 11 Case Summary --------------------------------------------- Debtor: Maya J ATX LLC 2450 Wickersham Lane Austin, TX 78741 Chapter 11 Petition Date: September 5, 2023 Court: United States Bankruptcy Court Western District of Texas Case No.: 23-10737 Judge: Hon. Shad Robinson Debtor's Counsel: James Q. Pope, Esq. THE POPE LAW FIRM 6161 Savoy Drive 1125 Houston TX 77036 Tel: (713) 449-4481 Email: jamesp@thepopelawfirm.com Estimated Assets: $10 million to $50 million Estimated Liabilities: $10 million to $50 million The petition was signed by Drew Dennett as manager. The Debtor filed an empty list of its 20 largest unsecured crediotrs. A full-text copy of the petition is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/ZWWAQOQ/Maya_J_ATX_LLC__txwbke-23-10737__0001.0.pdf?mcid=tGE4TAMA MEDCOMP SCIENCES: Greta Brouphy Named Subchapter V Trustee ---------------------------------------------------------- The Acting U.S. Trustee for Region 5 appointed Greta Brouphy, Esq., at Heller, Draper and Horn, LLC as Subchapter V trustee for MedComp Sciences, LLC. Ms. Brouphy will be paid an hourly fee of $375 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Brouphy declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Greta M. Brouphy, Esq. Heller, Draper and Horn, LLC 650 Poydras Street, Suite 2500 New Orleans, LA 70130-6175 Telephone: 504-299-3300 Facsimile: 504-299-3399 Email: gbrouphy@hellerdraper.com About MedComp Sciences MedComp Sciences, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. La. Case No. 23-10554) on Aug. 22, 2023, with $1 million to $10 million in both assets and liabilities. Judge Michael A. Crawford oversees the case. Sternberg, Naccari & White, LLC is the Debtor's legal counsel. MEJJM INC: Hires KC Cohen Lawyer PC as Legal Counsel ---------------------------------------------------- MEJJM, Inc. seeks approval from the U.S. Bankruptcy Court for the Southern District of KC Cohen, Lawyer, PC to employ KC Cohen, Lawyer, PC as its legal counsel. The Debtor requires legal counsel to: a) give advice with respect to the duties, powers and responsibilities of the Debtor in this Chapter 11 case; b) investigate and pursue any actions on behalf of the estate in order to recover assets for or best enable the Debtor's estate to reorganize fairly; c) represent the Debtor in its Chapter 11 proceedings in an effort to maximize the value of the assets available, and pursue confirmation of a successful Chapter 11 plan of reorganization; and d) perform such other legal services as may be required. The firm will be paid at these rates: Christopher J. McElwee $275 per hour Nicholas J Wildeman $200 per hour Bobby H Macias (paralegal) $100 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. The firm received from the Debtor a retainer of $6,738. KC Cohen, Esq., an attorney at KC Cohen, Lawyer, disclosed in a court filing that the firm is a "disinterested person" pursuant to Section 101(14) of the Bankruptcy Code. The firm can be reached through: KC Cohen, Esq. KC COHEN, LAWYER, PC 1915 Broad Ripple Ave. Indianapolis, IN 46220 Tel: (317) 715-1845 Fax: (317) 636-8686 Email: kc@smallbusiness11.com About MEJJM, Inc. MEJJM, Inc. runs a business that designs, imports and sells stationery, greeting cards and holiday cards into the retail space via its wholesale business. It is based in Indianapolis, Ind. The Debtor filed Chapter 11 petition (Bankr. S.D. Ind. Case No. 23-03538) on Aug. 14, 2023, with $1,502,094 in assets and $2,887,831 in liabilities. Michael Smith, president, signed the petition. Judge Jeffrey J. Graham oversees the case. KC Cohen, Esq., at KC Cohen, Lawyer, PC, represents the Debtor as bankruptcy counsel. MERIDIEN ENERGY: Seeks Conditional Approval of Disclosure Statement ------------------------------------------------------------------- Meridien Energy, LLC, filed a motion seeking entry of an order granting conditional approval of the disclosure statement and granting related relief. A hearing on the Motion is scheduled for Sept. 6, 2023, at 11:00 AM at Judge Phillips' Courtroom, 701 E. Broad St., Rm. 5100, Richmond, Virginia. (Bullock, Nathaniel) In the Motion, the Debtor proposed these deadlines: * The Voting Record Date will be on August 21, 2023. * The Solicitation Deadline will be on September 13, 2023. * The Deadline to Object to Proofs of Claims for Voting Purposes Only will be on September 15, 2023. * The Deadline to File Rule 3018(a) Motions will be on September 22, 2023. * The Deadline to File Plan Supplement will be on October 2, 2023. * The Confirmation Objection Deadline will be on 5:00 p.m. (EST) on October 9, 2023. * The Voting Deadline will be on 5:00 p.m. (EST) on October 16, 2023. * The Deadline for Debtor to File Confirmation Brief and Voting Report will be on October 20, 2023. * The Combined Hearing on Disclosure Statement Approval and Plan Confirmation will be on October 25, 2023, at 11:00 a.m. (EST). The Debtor will demonstrate at the hearing that the Disclosure Statement addresses each of the salient types of information necessary to provide holders of impaired claims that are entitled to vote to accept or reject the Plan with information to allow them to make an informed judgment about the Plan. The Debtor submits that good cause exists to establish procedures that combine the hearings to consider final approval of the Disclosure Statement and confirmation of the Plan. A combined hearing to consider final approval of the Disclosure Statement and confirmation of the Plan is critical to the Debtor's efforts to exit this Chapter 11 Case. The continuing burden of disputes and litigation has significantly hampered the Debtor's ability to focus on its operations and work toward furthering its business. The Debtor's financial drain has been further exacerbated by the administrative costs of operating in a chapter 11. Expediting the confirmation process will save resources and preserve cash needed to reorganize and operate efficiently. Moreover, if the Debtor is unable to proceed swiftly through the Plan confirmation process, the uncertainty inherently attendant to the pending bankruptcy will continue to hamper the Debtor's ability to take advantage of business opportunities. Any unnecessary delay could prejudice the Debtor's ability to exit this proceeding as a going concern. Meanwhile, a combined hearing will still provide creditors and other parties in interest more than ample time to review the Plan and Disclosure Statement. The determination of any objections to the adequacy of the information contained in the Disclosure Statement will be reserved for consideration at that combined hearing. Counsel to the Debtor: Brandy M. Rapp, Esq. WHITEFORD TAYLOR & PRESTON LLP Two James Center, 1021 E. Cary Street, Suite 1700 Richmond, VA 23219 Tel: (540) 759-3577 E-mail: brapp@whitefordlaw.com - and - Michael J. Roeschenthaler, Esq. WHITEFORD TAYLOR & PRESTON LLP 11 Stanwix Street, Suite 1400 Pittsburgh, PA 15222 Tel: (412) 618-5601 E-mail: mroeschenthaler@whitefordlaw.com About Meridien Energy Meridien Energy, LLC is a full-service pipeline construction company headquartered in New York state with division offices in Pennsylvania, Virginia, and Florida. Meridien Energy sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Va. Case No. 23-31377) on April 20, 2023, with up to $10 million in assets and up to $50 million in liabilities. Judge Keith L. Phillips oversees the case. The Debtor tapped Brandy M. Rapp, Esq., at Whiteford, Taylor and Preston, LLP as bankruptcy counsel; David Graham & Stubbs, LLP as special appellate counsel; MorrisAnderson & Associates, Ltd. as financial advisor; and Compass Advisory Partners, LLC as restructuring advisor. John W. Teitz of Compass serves as the Debtor's chief restructuring officer. MERIDIEN ENERGY: Unsecureds to Get Priority if Class Favors Plan ---------------------------------------------------------------- Meridien Energy, LLC, submitted a Chapter 11 Plan of Reorganization and a Disclosure Statement. The Debtor has operated a full-service pipeline construction company headquartered in Randolph, New York. The Debtor is a Virginia limited liability company whose projects have been principally concentrated in the eastern United States including Florida, New Jersey, New York, Pennsylvania and West Virginia. The management of Meridien has been leaders in the gas pipeline industry for over 30 years. The Debtor has extensive pipeline construction experience, including the installation of thousands of miles of pipelines and the rehabilitation of countless other lines. Its work includes the installation of major river crossings, open cut and directionally drilled, along with horizontal boring of roads and railroads. Under the Plan, Class 6 General Unsecured Claims total $14,856,000 and are impaired. In the event of the Restructuring only, in full satisfaction of Allowed General Unsecured Claims, each Holder of an Allowed General Unsecured Claim shall receive (i) its Pro Rata share of the First Distribution, and (ii) following payment in full of all Allowed Claims of senior Creditors, including Claims for Unpaid Professional Fees, (x) the Operational Distributions, and (y) any net proceeds of the Litigation Trust (together, the "Collective Distribution Funds"). The allocation of the First Distribution to Holders of General Unsecured Claims shall be distributed no later than (i) 30 days after the Effective Date or (ii) the date that is 30 days after the date such General Unsecured Claim is Allowed. The allocation of the Operational Distribution to Holders of General Unsecured Claims shall occur within the first calendar quarter following the completion of the 12-month payment period, and the 24-month payment period the following the conclusion of the Post Confirmation Operational Period. In the event of a subsequent sale transaction, in full satisfaction of Allowed General Unsecured Claims, each Holder of an Allowed General Unsecured Claim shall receive (i) its Pro Rata share of the First Distribution, and (ii) following payment in full of all Allowed Claims of senior Creditors, including Claims for Unpaid Professional Fees, the Sale Transaction Consideration, the Toggle Distribution and any proceeds of Litigation Trust. No Operational Distributions shall be made in the event of a Sale Transaction. Distributions on account of Allowed Class 6 Claims will receive priority over the senior Allowed WCS Secured Claim only in the event Class 6 votes in favor of the Plan and each Holder of a Class 6 Claim opts in to the releases set forth in Article VIII.D of the Plan. The Debtor or the Reorganized Debtor, as applicable, shall pay Allowed Administrative Claims, Priority Tax Claims and Non-Tax Priority Claims from Cash on hand, including Cash from operations (and the proceeds of the DIP Facility). Creditors under the Plan will be funded in part with a portion of the Initial New Value Contribution to be made by the Plan Sponsor on the Effective Date. Future distributions to General Unsecured Creditors will be made from any remaining funds from the Operational Distribution, and (if applicable) any net proceeds of the from the liquidation of the Litigation Trust Claims, all such distributions to be made pursuant to the priority provisions of the Bankruptcy Code. In the event of a subsequent Sale Transaction, the Debtor will fund distributions on account of unpaid Secured Claims and General Unsecured Claims from Cash on hand (if any), the Sale Transaction Consideration, the remaining balance of the Operational Allocation, and any proceeds of Litigation Trust, all pursuant to the priority provisions of the Bankruptcy Code. Counsel to the Debtor: Brandy M. Rapp, Esq. WHITEFORD TAYLOR & PRESTON LLP Two James Center, 1021 E. Cary Street, Suite 1700 Richmond, VA 23219 Tel: (540) 759-3577 E-mail: brapp@whitefordlaw.com - and - Michael J. Roeschenthaler, Esq. WHITEFORD TAYLOR & PRESTON LLP 11 Stanwix Street, Suite 1400 Pittsburgh, PA 15222 Tel: (412) 618-5601 E-mail: mroeschenthaler@whitefordlaw.com A copy of the Disclosure Statement dated August 23, 2023, is available at https://tinyurl.ph/Rassx from PacerMonitor.com. About Meridien Energy Meridien Energy, LLC is a full-service pipeline construction company headquartered in New York state with division offices in Pennsylvania, Virginia, and Florida. Meridien Energy sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. Va. Case No. 23-31377) on April 20, 2023, with up to $10 million in assets and up to $50 million in liabilities. Judge Keith L. Phillips oversees the case. The Debtor tapped Brandy M. Rapp, Esq., at Whiteford, Taylor and Preston, LLP as bankruptcy counsel; David Graham & Stubbs, LLP as special appellate counsel; MorrisAnderson & Associates, Ltd. as financial advisor; and Compass Advisory Partners, LLC as restructuring advisor. John W. Teitz of Compass serves as the Debtor's chief restructuring officer. MESOBLAST LTD: Incurs $81.9 Million Loss in FY Ended June 30 ------------------------------------------------------------ Mesoblast Limited filed with the Securities and Exchange Commission its Annual Report on Form 20-F disclosing a loss attributable to the owners of the Company of $81.89 million on $7.50 million of revenue for the year ended June 30, 2023, compared to a loss attributable to the owners of the Company of $91.35 million on $10.21 million of revenue for the year ended June 30, 2022. As of June 30, 2023, the Company had $669.41 million in total assets, $167.58 million in total liabilities, and $501.84 million in total equity. Melbourne, Australia-based PricewaterhouseCoopers, the Company's auditor since 2008, issued a "going concern" qualification in its report dated Aug. 31, 2023, citing that the Company has net cash outflows from operating activities and is dependent upon implementing cost containment and deferment strategies and obtaining additional funding from one or more sources to meet the Company's projected expenditure consistent with its business strategy, and has stated that these events or conditions result in material uncertainty that may cast significant doubt (or raise substantial doubt as contemplated by PCAOB standards) on the Company's ability to continue as a going concern. A full-text copy of the Form 20-F is available for free at: https://www.sec.gov/ix?doc=/Archives/edgar/data/1345099/000134509923000059/meso-20230630.htm About Mesoblast Headquartered in Melbourne, Australia, Mesoblast Limited -- www.mesoblast.com -- is a developer of allogeneic (off-the-shelf) cellular medicines for the treatment of severe and life-threatening inflammatory conditions. The Company has leveraged its proprietary mesenchymal lineage cell therapy technology platform to establish a broad portfolio of late-stage product candidates which respond to severe inflammation by releasing anti-inflammatory factors that counter and modulate multiple effector arms of the immune system, resulting in significant reduction of the damaging inflammatory process. Mesoblast has locations in Australia, the United States and Singapore and is listed on the Australian Securities Exchange (MSB) and on the Nasdaq (MESO). MILLIES PANCAKE: Court OKs Cash Collateral Access Thru Oct 18 ------------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, authorized Millies Pancake Shoppe II, Inc. to use cash collateral on an interim basis in accordance with the budget, through the date of the further hearing set for October 18, 2023 at 10:30 a.m. The Debtor requires the use of cash collateral to finance its ongoing post-petition business operations. The Huntington National Bank has a valid blanket lien upon the assets of the Debtor as of the date of the filing of the petition, and the cash proceeds thereof. Prepetition Secured Lender holds a security interest in all the assets of the Debtor by way of a valid lien duly filed of which the amount due and owing totals no less than $447,284. Other potential lien holders are as follows: a) Timberland Bank/ARF Financial b) U.S Small Business Administration In return for the Debtor's continued interim use of cash collateral, and for any diminution in value of Prepetition Secured Lender's interest in the cash collateral from and after the Petition date, the Prepetition Secured Parties will receive an administrative expense claim pursuant to 11 U.S.C. Section 507(b). In further return for the Debtor's continued interim use of cash collateral, Prepetition Secured Parties are granted a replacement lien in substantially all of the Debtor's assets, including cash collateral equivalents and the Debtor's cash and accounts receivable, among other collateral to the same extent and validity as held prepetition, without prejudice to the Debtor's right to object to the extent of any security interest of the Prepetition Secured Lender or the Additional Lien Holders. The liens granted will be valid, perfected, and enforceable without any further action by the Debtor and/or the Prepetition Secured Lender and need not be separately documented. A copy of the order is available at https://urlcurt.com/u?l=gWwwck from PacerMonitor.com. About Millies Pancake Shoppe II, Inc. Millies Pancake Shoppe II, Inc. operates a breakfast and lunch restaurant located in Addison, Illinois. Due to a pending lawsuit with one of its receivables lenders and guaranties of debt for related restaurants that are no longer operating, Millies sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 23-06836) on May 24, 2023. In the petition signed by James Duda, president, the Debtor disclosed up to $100,000 in assets and up to $1 million in liabilities. Judge David D. Cleary oversees the case. Joshua D. Greene, Esq., at Joshua D. Greene, represents the Debtor as legal counsel. MISEN INC: Hires Cedar Park Partners LLC as Financial Consultant ---------------------------------------------------------------- Misen Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of California to employ Cedar Park Partners LLC as financial consultant. The firm will provide these services: a. review and analysis of any valuations of the Debtor's assets prepared to support the Plan; b. preparation of a liquidation analysis and a feasibility analysis; c. preparation of financial information, including, but not limited to, cash flow projections and budgets, cash receipts and disbursement analysis, and analysis of asset and liability accounts; d. analysis of creditor claims; e. interpretation and analysis of financial materials, including accounting, tax, statistical, financial and economic data, regarding the Debtor; f. preparation of information and analysis necessary for the development and confirmation of a chapter 11 plan; and g. provisions of such other business consulting or such other assistance as the Debtor or counsel may deem necessary which are consistent with the role of a financial consultant and not duplicative of services provided by other professionals in this Bankruptcy Case. The firm will be paid at a monthly flat rate of $25,000. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Michael Fantasia, a partner at Cedar Park Partners LLC, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Michael Fantasia, Esq. CEDAR PARK PARTNERS LLC 308 W Yanonali St. Santa Barbara, CA 93101 About Misen Inc. Misen Inc. manufactures and sells cookwares. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 23-50767) on July 17, 2023. In the petition signed by Matthew J. Luckett, authorized officer, the Debtor disclosed $6,208,000 in assets and $10,855,000 in liabilities. Judge Stephen L. Johnson oversees the case. Ori Katz, Esq., at Sheppard Mullin Richter and Hampton LLP represents the Debtor as legal counsel. Timothy Nelson has been appointed as Subchapter V trustee. MISEN INC: Hires Sheppard Mullin Richter as Counsel --------------------------------------------------- Misen Inc. seeks approval from the U.S. Bankruptcy Court for the Northern District of California to employ Sheppard, Mullin, Richter & Hampton LLP as bankruptcy counsel. The firm's services include: a. advising and assisting the Debtor with respect to compliance with the requirements of the United States Trustee; b. advising the Debtor with respect to its powers and duties as a debtor in possession; c. advising the Debtor on the conduct of its Bankruptcy Case including all of the legal and administrative requirements of operating in chapter 11; d. attending meetings and negotiating with the representatives of creditors and other parties in interest; e. taking all necessary actions to protect and preserve the Debtor's estate, including prosecuting actions on the Debtor's behalf, defending any action commenced against the Debtor, and representing the Debtor's interests in negotiations concerning litigation in which the Debtor is involved; f. preparing pleadings in connection with the Bankruptcy Case, including motions, applications, answers, orders, reports, and papers necessary or otherwise beneficial to the administration of the Debtor's estate; g. making any court appearances on behalf of the Debtor; h. assisting the Debtor in the formulation, negotiation, confirmation, and implementation of a Chapter 11 plan; and i. taking such other action and performing such other services as the Debtor may require of Sheppard Mullin in connection with the Bankruptcy Case and any related proceedings. The firm will be paid at these rates: Ori Katz, Partner $1,355 per hour Gianna Segretti, Associate $885 per hour Koray Erbasi, Associate $700 per hour The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. Ori Katz, a partner at Sheppard, Mullin, Richter & Hampton LLP, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached at: Ori Katz, Esq. Gianna Segretti, Esq. Koray Erbasi, Esq. SHEPPARD, MULLIN, RICHTER & HAMPTON LLP Four Embarcadero Center, 17th Floor San Francisco, CA 94111-4109 Tel: (415) 434-9100 Fax: (415) 434-3947 Email okatz@sheppardmullin.com gsegretti@sheppardmullin.com kerbasi@sheppardmullin.com About Misen Inc. Misen Inc. manufactures and sells cookwares. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Cal. Case No. 23-50767) on July 17, 2023. In the petition signed by Matthew J. Luckett, authorized officer, the Debtor disclosed $6,208,000 in assets and $10,855,000 in liabilities. Judge Stephen L. Johnson oversees the case. Ori Katz, Esq., at Sheppard Mullin Richter and Hampton LLP represents the Debtor as legal counsel. Timothy Nelson has been appointed as Subchapter V trustee. MOUNTAIN VIEW: Seeks Cash Collateral Access Thru Oct 31 ------------------------------------------------------- Mountain View Orchard, Inc. asks the U.S. Bankruptcy Court for the District of Maryland, Baltimore Division, for authority to use cash collateral and provide adequate protection. The Debtor requires the use of cash collateral to pay the obligations and expenses set forth in the budget for the period expiring October 31, 2023. Prior to the commencement of the case, the Debtor was declared to be in default of a secured loan against its property and, thereafter, subject to foreclosure. Following unsuccessful negotiations to reinstate or resolve the loan, the Debtor was forced to commence this proceeding. The Debtor's affiliates, Charles & 20, LLC and 16 East 20, LLC, had commenced Chapter 11 proceedings on June 8, 2023, with both affiliates being subject to the same secured debt as the Debtor. The Debtor anticipates that the ongoing sale and/or reorganization efforts of its affiliates will satisfy the majority of the balance owed on the Debtor's primary Secured Debt. Yellow Breeches Capital LLC, successor by assignment to First National Bank of Pennsylvania, successor in interest to Howard Bank, successor in interest to First Mariner Bank, asserts a secured claim against the Debtor by way of, inter alia, the Debtor's obligations under three loans as borrower or guarantor, and which are respectively secured by the following security interests: (a) a first-priority deed of trust lien against the Debtor's real property pursuant to a Credit Line Deed of Trust, Security Agreement, Fixture Filing and Assignment of Leases dated October 5, 2000 and recorded among the land records of the Circuit Court for Stafford County, Virginia at Instrument No. LR000019503; (b) a second-priority deed of trust lien against the Debtor's real property pursuant to a Second Credit Line Deed of Trust, Security Agreement, and Assignment of Contracts, Leases and Rents dated August 20, 2009 and recorded among the land records of the Circuit Court for Stafford County, Virginia at Instrument No. LR090014516; (c) a third-priority deed of trust lien against the Debtor's real property pursuant to an Indemnity Deed of Trust, Security Agreement and Assignment of Contracts, Leases and Rents dated July 16, 2010 and recorded among the land records of the Circuit Court for Stafford County, Virginia at Instrument No. LR100011152; and (d) a Security Agreement granting the Lender a security interest in all personal property assets of the Debtor. The outstanding balance claimed by the Lender and secured by the Security Interests is believed to approximately $3.6 million. The Debtor proposes, as additional "adequate protection" of the Lender's interest in cash collateral to grant the Lender a security interest of the same priority and to the same extent as its respective pre-petition Security Interests in its collateral base, and all profits, offspring, and proceeds of the Lender's collateral. A copy of the order is available at https://urlcurt.com/u?l=65D6Yq from PacerMonitor.com. About Mountain View Orchard, Inc. Mountain View Orchard, Inc. is in the business of fruit and tree nut farming. Mountain View Orchard, Inc. filed its voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. D. Md. Case No. 23-15149) on July 23, 2023. The petition was signed by Anthony C.Y. Cheng as president. At the time of filing, the Debtor estimated $500,000 to $1 million in assets and $1 million to $10 million in liabilities. Joseph M. Selba, Esq. at Tydings & Rosenberg LLP represents the Debtor as counsel. MP PPH: Files Emergency Bid to Use Cash Collateral -------------------------------------------------- MP PPH LLC asks the U.S. Bankruptcy Court for the District of Columbia for authority to use cash collateral and provide adequate protection. The Debtor requires the immediate use of cash collateral to maintain its business operations, maintain services for its tenants, and act in accordance with its duties as a debtor-in-possession before the Court. Arbor Realty Sr, Inc. holds a claim against the Debtor in the amount of approximately $55 million which is secured by a first lien against the Property and Rents derived therefrom, and such other collateral as set forth in Secured Creditor's loan documents. In addition to the foregoing, there are secured obligations owing to the DC Water & Sewer Authority of approximately $641,234, plus approximately $39,000 owing to the DOB for various fines and citations issued against the Property. In addition to the foregoing, there are unsecured claims against the Debtor existing as of the Petition Date in the approximate total amount of $6.9 million, the majority of which are insider liabilities. The Debtor's debt to Secured Creditor is evidenced by the Amended, Restated and Consolidated Promissory Note dated as of April 6, 2022 in the original principal amount of $55 million and secured by that certain Amended and Restated Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing dated as of April 6, 2022 from Borrower for the benefit of Lender, encumbering the Property and governed by that certain Loan Agreement, dated as of April 6, 2022, by and between the Debtor and Secured Creditor, as amended by the First Amendment to Loan Agreement and other Loan Documents dated as of January 27, 2023. The Secured Creditor will be provided with the following adequate protection under the Interim Order: (i) monthly payments equal to the Secured Creditor's monthly interest at the non-default rate pursuant to the floating rate of interest provided for in the Loan Documents, in full and complete satisfaction of 11 U.S.C. 362(d)(3)(B); (ii) a replacement lien on all of the post-petition assets of the Debtor pursuant to 11 U.S.C. section 361 to the extent of diminution in the value of the Secured Creditor's interest in cash collateral; and (iii) an administrative priority expense claim pursuant to 11 U.S.C. Section 507(b) of the Bankruptcy Code, to the extent there is a diminution in the value of the Secured Creditor's interest in cash collateral. The replacement lien and administrative priority claim will not attach to any causes of action of the Debtor arising under Chapter 5 of the Bankruptcy Code. A copy of the motion is available at https://urlcurt.com/u?l=qAtWja from PacerMonitor.com. About MP PPH LLC MP PPH LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. D.C. Case No. 23-00246-ELG) on August 31, 2023. In the petition signed by Michael A. Abreu, vice president of operations, the Debtor disclosed up to $500,000 in assets and up to $100 million in liabilities. Marc E. Albert, Esq., at Stinson LLP, represents the Debtor as legal counsel. MRS. BUSY BEE: Unsecureds to Split $27K in Consensual Plan ---------------------------------------------------------- Mrs. Busy Bee Air Conditioning and Heating, LLC, filed with the U.S. Bankruptcy Court for the Middle District of Florida a Plan of Reorganization dated August 29, 2023. The Debtor is a full-service HVAC company offering installation and repair for a broad selection of residential and commercial HVAC equipment. The Debtor's principal place of business is located at 6648 Old Cheney Hwy, Suite C, Orlando, Florida, is a commercial space leased from Old Cheney Properties, LLC. This Plan provides for: 2 classes of secured claims; 1 class of unsecured claims; and 1 class of equity security holders. Class 1 consists of the Secured Claim of Ally Financial. This Claim is secured by a lien on the Ally Financial Collateral. The Class 1 Secured Claim is approximately $62,261.73. This Class is Unimpaired. The Reorganized Debtor shall make the contractually required payments on this Claim in accordance with the loan documents giving rise to said Claim. This claim shall be paid directly by the Debtor. Class 2 consists of the Secured Claim of the Flash. This Claim is secured by liens on the Flash Collateral. The Class 2 Secured Claim is approximately $10,848.00. This Class is Impaired. Debtor contends the value of the collateral and therefore the allowed amount of the secured claim is $10,848.00. The Reorganized Debtor shall make 36 equal monthly payments of principal $301.33, which payment amount is calculated based upon amortizing the amount of the Allowed Secured Claim over a three-year period without interest. This claim shall be paid directly by the Debtor. Class 3 consists of the Allowed Unsecured Claims against the Debtor. This Class is Impaired. * Consensual Plan Treatment: The liquidation value or amount that unsecured creditors would receive in a hypothetical chapter 7 case is approximately $0.00. Accordingly, the Debtor proposes to pay unsecured creditors a pro rata portion of $27,000.00. Payments will be made in equal quarterly payments of $2,250.00. Payments shall commence on the fifteenth day of the month, on the first month that begins more than fourteen days after the Effective Date and shall continue quarterly for eleven additional quarters. Pursuant to Section 1191 of the Bankruptcy Code, the value to be distributed to unsecured creditors is greater than the Debtor's projected disposable income to be received in the 3-year period beginning on the date that the first payment is due under the plan. Holders of class 3 claims shall be paid directly by the Debtor. * Nonconsensual Plan Treatment: The liquidation value or amount that unsecured creditors would receive in a hypothetical chapter 7 case is approximately $0.00. Accordingly, Debtor proposes to pay unsecured creditors a pro rata portion of its Disposable Income. If the Debtor remains in possession, plan payments shall include the Subchapter V Trustee's administrative fee which will be billed hourly at the Subchapter V Trustee's then current allowable blended rate. Plan Payments shall commence on the fifteenth day of the month, on the first month that is ninety days after the Effective Date and shall continue quarterly for eleven additional quarters. The initial estimated quarterly payment shall be $0.00; however, the Debtor may have disposable income during the life of the Plan depending on future business. Holders of class 3 claims shall be paid directly by the Debtor. Class 4 consists of any and all equity interests and warrants currently issued or authorized in the Debtor. This Class is Unimpaired. Holders of a Class 4 interests shall retain their full equity interest in the same amounts, percentages, manner and structure as existed on the Petition Date. The Plan contemplates that the Reorganized Debtor will continue to operate the Debtor's business. Except as explicitly set forth in this Plan, all cash in excess of operating expenses generated from operation until the Effective Date will be used for Plan Payments or Plan implementation, cash on hand as of Confirmation shall be available for Administrative Expenses. A full-text copy of the Plan of Reorganization dated August 29, 2023 is available at https://urlcurt.com/u?l=PtuA1N from PacerMonitor.com at no charge. Counsel for Debtor: Jeffrey S. Ainsworth, Esq. Jacob D. Flentke, Esq. BransonLaw, PLLC 1501 E. Concord St. Orlando, FL 32803 Telephone: (407) 894-6834 Facsimile: (407) 894-8559 Email: jeff@bransonlaw.com E-mail: jacob@bransonlaw.com About Mrs. Busy Bee Air Conditioning and Heating Mrs. Busy Bee Air Conditioning and Heating, LLC provides residential and commercial HVAC services in Orlando, Fla., and the surrounding areas. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 23-02139) on May 31, 2023, with up to $100,000 in assets and up to $500,000 in liabilities. Esther M. De La Torre, managing member, signed the petition. Judge Tiffay P. Geyer oversees the case. Jeffrey S. Ainsworth, Esq., at BransonLaw, PLLC, is the Debtor's legal counsel. MSS INC: Wins Cash Collateral Access Thru Sept 13 ------------------------------------------------- The U.S. Bankruptcy Court for the Eastern District of North Carolina, Raleigh Division, authorized SS. Inc. d/b/a MSS-Ortiz Electrical Services to use cash collateral on an interim basis, in accordance with the budget, with a 5% variance, through September 13, 2023. The Debtor, due to unforeseen circumstances, volatility in material prices, and invoicing/collection actions by one of its largest material suppliers since the First Quarter of 2023, the Debtor experienced significant financial problems resulting in its inability to pay certain ongoing expenses associated with its commercial and residential construction projects. Prepetition, the Debtor incurred the following indebtedness in connection with the financing of its business operations: A. Truist Loan (Loan No. 0497). The Debtor, on February 23, 2018, executed and delivered to SUNTRUST BANK, predecessor-in-interest to TRUIST BANK a Promissory Note in the original principal amount of $150,000. The security interest in the Truist Collateral was perfected by the filing of a UCC-1 Financing Statement with the North Carolina Secretary of State, File No. 2018 00174966A. The Debtor paid, in full, the outstanding balance owed to Truist under the Truist Loan, from the proceeds generated by the FNB Loan. As a result, and on the Petition Date, there were no amounts due and owing by the Debtor pursuant to the Truist Loan. B. First National Loan (Loan No. 2786). Prepetition, the Debtor and other coobligors, executed and delivered to FIRST NATIONAL BANK OF PENNSYLVANIA, a Promissory Note dated July 26, 2023, in the original principal amount of $450,000, the principal amount of which was due and payable on January 26, 2025, with regularly monthly payments of accrued interest, at a rate equal to 8.25% per annum, and payable monthly commencing on August 26, 2023. Repayment and performance of the FNB Note was secured by a security interest, granted under a Security Agreement. The security interest of FNB, in the FNB Collateral, was perfected by the UCC Financing Statement filed with the North Carolina Secretary of State on August 15, 2023, File No. 20230102499C. A portion of the proceeds of the FNB Loan were used to satisfy, in full, the existing obligation evidenced by the Truist Loan. The outstanding balance of the FNB Loan, as of August 14, 2023, was $431,504. C. McCorkle Loan. The Debtor executed and delivered to TOMMY JOE MCCORKLE, a Promissory Note dated March 8, 2023, in the original principal amount of $500,000, with interest accruing thereon at a rate equal to 2% per annum and payable on demand. Repayment of the McCorkle Note was secured by a Security Agreement, which granted McCorkle a security interest in personal property collateral. The security interest in the McCorkle Loan Collateral was perfected by the filing of a UCC Financing Statement with the North Carolina Secretary of State. The Debtor will pay, as adequate protection, $3,500 to First National Bank of Pennsylvania in exchange for the interim use of cash collateral under the Order. It will be a default thereunder for any one or more of the following to occur: (a) the Debtor fails to comply with any terms or conditions of the Order; or (b) the Debtor uses cash collateral other than as permitted in the Order. A further hearing on the matter is set for September 13, 2023 at 2 p.m. A copy of the order is available at https://urlcurt.com/u?l=x4FmDd from PacerMonitor.com. A copy of the budget is available at https://urlcurt.com/u?l=77No2b from PacerMonitor.com. The Debtor projects $60,000 in total income and $65,050 in total operating expenses for the period from August 28 to September 13, 2023. About MSS Inc. MSS. Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D. N.C. Case No. 23-02487) on August 28, 2023. In the petition signed by Matthew Filzen, vice president/chief operations officer, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Joseph N. Callaway oversees the case. Joseph Z. Frost, Esq., at Buckmiller, Boyette & Frost, PLLC, represents the Debtor as legal counsel. MY SISTER'S CLOSET: Disposable Income to Fund Plan Payments ----------------------------------------------------------- My Sister's Closet, LLC, filed with the U.S. Bankruptcy Court for the Western District of Missouri a Small Business Plan of Reorganization dated August 29, 2023. The Debtor is a retail clothing operation with two brick and mortar locations, in Waterville and Manhattan, Kansas, as well as an online presence at https://mysistersclosetkansas.com/ and an app for Android and for Apple phones. The primary driver of the bankruptcy filing was the unsustainable payments to merchant cash advance loans like Fora Financial, which were sapping the Debtor's cash reserves and preventing a growth in inventory. The Debtor would also like to increase salaries to its hourly employees and pay a steadier wage to its principals. The Debtor believes that if it is allowed to reorganize, it can now pay operating costs along with secured and priority creditors to maintain its inventory load and ultimately grow the inventory to develop a more robust sales approach. Class 2 consists of General Unsecured Claims. General unsecured creditors include: Fora Financial, $40,130.80 (Claim #2); Verizon $2632.42 (Claim #3); Synchrony Bank/Paypal ($5,376, no claim filed); Shopify ($4,200, no claim filed); JPMCB Card Services (Chase) ($40,000, no claim filed); Faire Wholesale, Inc. ($23,381, no claim filed); and the unsecured portion of the claim from the Internal Revenue Service (Claim #1). For the unsecured claims, General Unsecured Creditors shall share in payments from disposable monthly income following years 1-5. The Debtor does not anticipate having funds available to pay general unsecured creditors in Year 1 of the plan due to administrative costs. Equity Interest Holders: Brandon and Rachael Bargdill shall Retain ownership interest in the LLC. Upon Confirmation of the Plan, the Debtor shall make direct payments to all the secured, priority and general unsecured creditors per the provisions, unless otherwise noted, from its income and any contributions from the Debtor's principal. Debtor believes the market for its services continues to stabilize following lifting of the restrictions from the COVID-19 pandemic. Upon Confirmation of the Plan, all property of the Debtor, tangible and intangible, including, without limitation, licenses, furniture, fixtures and equipment, will revert, free and clear of all Claims and Equitable Interests except as provided in the Plan, to the Debtor. The Debtor expects to have sufficient cash on hand to make the payments required on the Effective Date. A full-text copy of the Plan of Reorganization dated August 29, 2023 is available at https://urlcurt.com/u?l=tpwFY6 from PacerMonitor.com at no charge. Attorney for Debtor: Ryan A. Blay, Esq. WM Law 15095 W. 116th St. Olathe, KS 66062 Tel: (913) 422-0909 Fax: (913) 428-8549 Email: blay@wagonergroup.com About My Sister's Closet LLC My Sister's Closet, LLC is a retail clothing operation with two brick and mortar locations, in Waterville and Manhattan, Kansas, as well as an online presence at https://mysistersclosetkansas.com/ and an app for Android and for Apple phones. The Debtor filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Kan. Case No. 23-20604) on May 31, 2023, with $100,001 to $500,000 in assets and $500,001 to $1 million in liabilities. Rob Messerli of Gunrock Venture Partners has been appointed as Subchapter V trustee. Judge Dale L. Somers oversees the case. The Debtor is represented by Ryan A. Blay, Esq., at WM Law. NEEDS LLC: Stephen Moriarty Named Subchapter V Trustee ------------------------------------------------------ The U.S. Trustee for Region 14 appointed Stephen Moriarty, Esq., at Fellers, Snider, Blankenship, Bailey & Tippens, P.C., as Subchapter V trustee for Needs, LLC. Mr. Moriarty will be paid an hourly fee of $500 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Moriarty declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Stephen J. Moriarty, Esq. Fellers, Snider, Blankenship, Bailey & Tippens, P.C. 100 N. Broadway, Suite 1700 Oklahoma City, OK 73102 Telephone: (405) 232-0621 Facsimile: (405) 232-9659 Email: smoriarty@fellerssnider.com About Needs LLC Needs, LLC operates a grocery store in Oklahoma City. The Debtor filed Chapter 11 petition (Bankr. W.D. Okla. Case No. 23-12223) on Aug. 21, 2023, with $1,421,006 in assets and $1,741,620 in liabilities. Joseph Abbo, owner, signed the petition. Gary D. Hammond, Esq., at Hammond Law Firm represents the Debtor as bankruptcy counsel. NORTH BROOKLYN: Unsecureds to Get 100% Under Plan ------------------------------------------------- North Brooklyn Real Estate Initiative Corp. submitted a Chapter 11 Small Business Plan and a Disclosure Statement. The Debtor owns a 3 family building in Brooklyn. General unsecured Creditors are classified in Class 3, and will receive a distribution of 100% of their allowed claims. Payments and distributions under the Plan will be funded by the fresh capital and loan. A copy of the Disclosure Statement dated August 23, 2023, is available at https://tinyurl.ph/bcblf from PacerMonitor.com. About North Brooklyn Real Estate Initiative North Brooklyn Real Estate Initiative Corp. is a single asset real estate (as defined in 11 U.S.C. Sec. 101(51B)). The company is based in Brooklyn, N.Y. North Brooklyn Real Estate Initiative sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 22-41926) on Aug. 10, 2022, with $1 million to $10 million in assets and $500,000 to $1 million in liabilities. Federico Frazer, president of North Brooklyn Real Estate Initiative, signed the petition. Judge Elizabeth S. Stong oversees the case. David J. Doyaga, Attorney at Law, is the Debtor's counsel. NORTH VILLAGE: Court OKs Cash Collateral Access Thru Oct 16 ----------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Illinois authorized North Village Snow Management Corp. d/b/a North Village Group to use continue using cash collateral on an interim basis in accordance with prior interim order through October 16, 2023. As previously reported by the Troubled Company Reporter, in return for the Debtor's continued interim use of cash collateral, the U.S. Small Business Administration was granted the following adequate protection for its purported secured interests in property of the Debtor: 1. The Debtor will permit the SBA to inspect, upon reasonable notice, within reasonable hours, the Debtor's books and records; 2. The Debtor will maintain and pay premiums for insurance to cover all of its assets from fire, theft, and water damage; 3. The Debtor will, upon reasonable request, make available to the SBA evidence of that which constitutes its collateral or proceeds; 4. The Debtor will properly maintain its assets in good repair and properly manage its business; and 5. The SBA will be granted valid, perfected, enforceable security interests in and to the Debtor's post-petition assets, including all proceeds and products which are now or hereafter become property of this estate, to the extent and priority of its alleged pre-petition liens, if valid, but only to the extent of any diminution in the value of such assets during the period from the commencement of the Debtor's chapter 11 case. A further hearing on the matter is set for October 3 at 10 a.m. A copy of the order is available at https://urlcurt.com/u?l=xUkkVN from PacerMonitor.com. About North Village Snow Management Corp. North Village Snow Management Corp. offers basement waterproofing services and snow management services for commercial and residential customers. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 23-09789) on July 27, 2023. Judge Janet S. Baer oversees the case. David K. Welch, Esq., at Burke, Warren, Mackay & Serritella, P.C., represents the Debtor as legal counsel. NOVAN INC: Committee Taps Dundon Advisers as Financial Advisor -------------------------------------------------------------- The official committee of unsecured creditors appointed in the Chapter 11 cases of Novan, Inc. and EPI Health, LLC seeks approval from the U.S. Bankruptcy Court for the District of Delaware to employ Dundon Advisers, LLC. The committee requires a financial advisor to: (a) assist in the analysis, review, and monitoring of the restructuring or liquidation process; (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 from those currently or in the future proposed by any Debtors; (d) monitor and, to the extent appropriate, assist the Debtors in efforts to develop and solicit transactions that would support unsecured creditor recovery; (e) assist the committee in identifying, valuing, and pursuing estate causes of action; (f) assist the committee to analyze, classify and address claims against the Debtors and participate effectively in any effort in these Chapter 11 cases to estimate contingent, unliquidated, and disputed claims; (g) assist the committee to identify, preserve, value, and monetize tax assets of the Debtors, if any; (h) advise the committee in negotiations with the Debtors, certain lenders and third parties; (i) assist the committee in reviewing the Debtors' financial 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 subsequently proposed debtor-in-possession financing or use of cash collateral; (l) assist the committee in evaluating and analyzing avoidance actions; (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' bankruptcy cases; (o) present at meetings of the committee as well as meetings with other key stakeholders; (p) provide testimony on behalf of the committee as and when deemed appropriate; and (q) perform other financial advisory services. The hourly rates of the firm's professionals are as follows: Principal $801 Managing Director and Senior Adviser $711 Senior Director $630 Director $585 Associate Director $495 Senior Associate $428 Associate $315 In addition, the firm will seek reimbursement for expenses incurred. Richard Wright, a managing director at Dundon Advisers, disclosed in a court filing that his firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Richard Wright Dundon Advisers LLC Ten Bank Street, Suite 1100 White Plains, NY 10606 Telephone: (914) 341-1188 Facsimile: (212) 202-4437 Email: rw@dundon.com About Novan Inc. Based in Durham, N.C., Novan Inc. (Nasdaq: NOVN) is a clinical development-stage biotechnology company focused on leveraging nitric oxide's naturally occurring anti-viral, anti-bacterial, anti-fungal and immunomodulatory mechanisms of action to treat a range of diseases with significant unmet needs. Nitric oxide plays a vital role in the natural immune system response against microbial pathogens and is a critical regulator of inflammation. Novan Inc. and affiliate, EPI Health, LLC, filed Chapter 11 petitions (Bankr. D. Del. Lead Case No. 23-10937) on July 17, 2023. As of March 31, 2023, Novan disclosed $79,793,000 in assets against $7,922,000 in liabilities. Judge Laurie Selber Silverstein oversees the cases. The Debtors tapped Morris, Nichols, Arsht & Tunnell, LLP as bankruptcy counsel; Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan, LLP as special counsel; Sierra Constellation Partners, LLC as financial advisor; and Raymond James and Associates as investment banker. Kurtzman Carson Consultants, LLC is the claims agent. On July 28, 2023, the U.S. Trustee for Regions 3 and 9 appointed an official committee of unsecured creditors in these Chapter 11 cases. The committee tapped Goodwin Procter, LLP as bankruptcy counsel; Womble Bond Dickinson (US) LLP as co-counsel; and Dundon Advisers, LLC as financial advisor. NOVAN INC: Committee Taps Goodwin Procter as Bankruptcy Counsel --------------------------------------------------------------- The official committee of unsecured creditors appointed in the Chapter 11 cases of Novan, Inc. and EPI Health, LLC seeks approval from the U.S. Bankruptcy Court for the District of Delaware to employ Goodwin Procter, LLP as lead counsel. The firm will render these services: (a) advise the committee with respect to its powers and duties; (b) provide legal advice as necessary with respect to a sale of all or substantially all of the Debtors' assets pursuant to Bankruptcy Code Section 363; (c) assist the committee in investigating the acts, conduct, assets, liabilities, and financial condition of the Debtors, the operation of their business, potential claims, and any other matters relevant to their Chapter 11 cases, or for the formulation of a plan of reorganization or liquidation; (d) participate in the formulation of a plan and any related disclosure statement; (e) prepare legal papers and appear in court; (f) litigate on behalf of the committee; (g) assist the committee in requesting the appointment of a trustee or examiner, should such action be necessary; and (h) perform other necessary legal services. The hourly rates of the firm's counsel and staff are as follows: Partners $1,000 - $1,720 Counsel $920 - $1584 Associates $568 - $940 Paralegals $288 - $496 The hourly rates of the firm's attorneys who are expected to represent the committee are as follows: Howard S. Steel, Partner $1,160 Barry Z. Bazian, Partner $1,080 Stacy Dasaro, Associate $940 James Lathrop, Associate $876 Devon Allgood, Associate $568 In addition, the firm will seek reimbursement for expenses incurred. Howard Steel, Esq., a partner at Goodwin Procter, disclosed in a court filing that his firm is a "disinterested person" as that term is defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Howard S. Steel, Esq. Goodwin Procter LLP The New York Times Building 620 Eighth Avenue New York, NY 10018 Telephone: (212) 813-8800 Email: hsteel@goodwinlaw.com About Novan Inc. Based in Durham, N.C., Novan Inc. (Nasdaq: NOVN) is a clinical development-stage biotechnology company focused on leveraging nitric oxide's naturally occurring anti-viral, anti-bacterial, anti-fungal and immunomodulatory mechanisms of action to treat a range of diseases with significant unmet needs. Nitric oxide plays a vital role in the natural immune system response against microbial pathogens and is a critical regulator of inflammation. Novan Inc. and affiliate, EPI Health, LLC, filed Chapter 11 petitions (Bankr. D. Del. Lead Case No. 23-10937) on July 17, 2023. As of March 31, 2023, Novan disclosed $79,793,000 in assets against $7,922,000 in liabilities. Judge Laurie Selber Silverstein oversees the cases. The Debtors tapped Morris, Nichols, Arsht & Tunnell, LLP as bankruptcy counsel; Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan, LLP as special counsel; Sierra Constellation Partners, LLC as financial advisor; and Raymond James and Associates as investment banker. Kurtzman Carson Consultants, LLC is the claims agent. On July 28, 2023, the U.S. Trustee for Regions 3 and 9 appointed an official committee of unsecured creditors in these Chapter 11 cases. The committee tapped Goodwin Procter, LLP as bankruptcy counsel; Womble Bond Dickinson (US) LLP as co-counsel; and Dundon Advisers, LLC as financial advisor. NOVAN INC: Committee Taps Womble Bond Dickinson as Co-Counsel ------------------------------------------------------------- The official committee of unsecured creditors appointed in the Chapter 11 cases of Novan, Inc. and EPI Health, LLC seeks approval from the U.S. Bankruptcy Court for the District of Delaware to employ Womble Bond Dickinson (US), LLP as co-counsel with Goodwin Procter, LLP. The firm will render these services: (a) advise the committee with respect to its powers and duties; (b) assist the committee in investigating the acts, conduct, assets, liabilities, and financial condition of the Debtors, the operation of their businesses, potential claims, and any other matters relevant to their Chapter 11 cases, to the sale of assets, or to the formulation of a plan of reorganization or liquidation; (c) participate in the formulation of a plan; (d) provide legal advice as necessary with respect to any disclosure statement and plan filed in these Chapter 11 cases and with respect to the process for approving or disapproving disclosure statements and confirming or denying confirmation of a plan; (e) prepare legal papers and appear in court; (f) assist the committee in requesting the appointment of a trustee or examiner, should such action be necessary; and (g) perform other legal services. The hourly rates of the firm's counsel and staff are as follows: Partners $325 - $1,390 Of Counsel $380 - $845 Associates $305 - $625 Senior Counsel $125 - $780 Counsel $125 - $795 Paralegals $95 - $545 In addition, the firm will seek reimbursement for expenses incurred. Donald Detweiler, Esq., a partner at Womble Bond Dickinson (US), disclosed in a court filing that his firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Donald J. Detweiler, Esq. Womble Bond Dickinson (US), LLP 1313 North Market Street, Suite 1200 Wilmington, DE 19801 Telephone: (302) 252-4320 Facsimile: (302) 252-4330 Email: don.detweiler@wbd-us.com About Novan Inc. Based in Durham, N.C., Novan Inc. (Nasdaq: NOVN) is a clinical development-stage biotechnology company focused on leveraging nitric oxide's naturally occurring anti-viral, anti-bacterial, anti-fungal and immunomodulatory mechanisms of action to treat a range of diseases with significant unmet needs. Nitric oxide plays a vital role in the natural immune system response against microbial pathogens and is a critical regulator of inflammation. Novan Inc. and affiliate, EPI Health, LLC, filed Chapter 11 petitions (Bankr. D. Del. Lead Case No. 23-10937) on July 17, 2023. As of March 31, 2023, Novan disclosed $79,793,000 in assets against $7,922,000 in liabilities. Judge Laurie Selber Silverstein oversees the cases. The Debtors tapped Morris, Nichols, Arsht & Tunnell, LLP as bankruptcy counsel; Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan, LLP as special counsel; Sierra Constellation Partners, LLC as financial advisor; and Raymond James and Associates as investment banker. Kurtzman Carson Consultants, LLC is the claims agent. On July 28, 2023, the U.S. Trustee for Regions 3 and 9 appointed an official committee of unsecured creditors in these Chapter 11 cases. The committee tapped Goodwin Procter, LLP as bankruptcy counsel; Womble Bond Dickinson (US) LLP as co-counsel; and Dundon Advisers, LLC as financial advisor. NOVAN INC: Seeks to Hire Ordinary Course Professionals ------------------------------------------------------ Novan Inc. and its affiliates seeks approval from the U.S. Bankruptcy Court for the District of Delaware to employ ordinary course professionals. The following are the ordinary course professionals and their services to be rendered: Name Professional Services Work Description Blank Rome LLP Legal Legal advice related to Regulatory and/or Intellectual Property Matters Computer Packages IP Work related to intellectual Inc. Property matters King & Spalding LLP Legal Legal advice related to Regulatory and/or Intellectual Property Matters Latham & Watkins LLP Legal Legal advice related to Regulatory and/or Intellectual Property Matters Law Office of Kathleen Legal Legal advice related to Lynch, PLLC Regulatory and/or Intellectual Property Matters Littler Mendelson PC Legal Legal advice related to Regulatory and/or Intellectual Property Matters Myers Bigel Sibley & Legal Legal advice related to Sajovec, PA Regulatory and/or Intellectual Property Matters Pharmaceutical Project Regulatory Work related to regulatory Solutions matters Stanek Lemon Crouse Legal Legal advice related to & Meeks, P.A. Regulatory and/or Intellectual Property Matters University of North IP Work related to intellectual Carolina at Chapel Hill property matters About Novan Inc. Based in Durham, North Carolina, Novan Inc. (Nasdaq: NOVNQ) is a clinical development-stage biotechnology company focused on leveraging nitric oxide's naturally occurring anti-viral, anti-bacterial, anti-fungal and immunomodulatory mechanisms of action to treat a range of diseases with significant unmet needs. Nitric oxide plays a vital role in the natural immune system response against microbial pathogens and is a critical regulator of inflammation. Novan Inc. and affiliate EPI Health, LLC, sought relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 23-10937) on July 17, 2023. As of March 31, 2023, Novan disclosed $79,793,000 in assets against $7,922,000 in liabilities. Judge Laurie Selber Silverstein oversees the case. The Debtors tapped MORRIS, NICHOLS, ARSHT & TUNNELL LLP as counsel, SIERRA CONSTELLATION PARTNERS, LLC, as financial advisor, and RAYMOND JAMES AND ASSOCIATES as investment banker. SMITH, ANDERSON, BLOUNT, DORSETT, MITCHELL & JERNIGAN, L.L.P., is special counsel. KURTZMAN CARSON CONSULTANTS, LLC, is the claims agent. ONE BRIDAL: Disposable Income to Fund Plan Payments --------------------------------------------------- The One Bridal, LLC, filed with the U.S. Bankruptcy Court for the Western District of Missouri a Small Business Plan of Reorganization dated August 29, 2023. The Debtor is a wedding dress and bridal store with a physical location in Kansas City, MO, as well as an online presence at https://www.theone-bridal.com/. The Debtor has a total of 7 employees in addition to the owner, Ashley Jones. The business has been operating since early 2020. Unfortunately, COVID-19 hit immediately, causing issues with wedding cancellations, supply chain issues, and other stressors. Still, The One Bridal pressed on, working to adapt to COVID-19 and thrive. The One Bridal files its own tax returns despite being structured as a pass through entity. The Debtor's biggest struggle has been reducing expenses while ensuring sales stay strong. The Debtor believes that its cash flow will be greatly improved without daily and other periodic payments made to Merchant Cash Advance loans. In addition, while the Debtor would have preferred to remain in its prior location in Lenexa, it was simply far more cost effective to move to a downtown Kansas City location and start fresh, setting aside over $150,000 in arrears. The Debtor believes that if it is allowed to reorganize, it can now pay operating costs along with secured and priority creditors to maintain its inventory load and ultimately grow the inventory to develop a more robust sales approach. Class 2 consists of General Unsecured Claims. General unsecured claims include Scripps Media (Claim 2, $20438.17); Capital One (Claim 3, $76,851.07) Lendr Online (Claim 4, $45,084.32), Opportunity Action Fund, (Claim 7, $6367.29), Chase (Claim 8, $3972.95) American Express (Claim 9, $2085.62), Evergy (Claim 11, $2398.63 unsecured), Nolte's (Claim 12, $63911.23), Fundbox (Claim 13, $52,358.34), The District at City Center LLC (Claim 14, $144760.40) as well as portions of Claim 5 and 6 of the Kansas Department of Revenue that are unsecured. For the unsecured claims, General Unsecured Creditors shall share in payments from disposable monthly income following years 1-5. The Debtor does not anticipate having funds available to pay general unsecured creditors in Year 1 of the plan due to administrative costs. Equity Interest Holders: Ashley Jones shall Retain ownership interest in the LLC. Upon Confirmation of the Plan, the Debtor shall make direct payments to all the secured, priority and general unsecured creditors per the provisions, unless otherwise noted, from its income and any contributions from the Debtor's principal. Debtor believes the market for its services continues to stabilize following lifting of the restrictions from the COVID-19 pandemic. Upon Confirmation of the Plan, all property of the Debtor, tangible and intangible, including, without limitation, licenses, furniture, fixtures and equipment, will revert, free and clear of all Claims and Equitable Interests except as provided in the Plan, to the Debtor. The Debtor expects to have sufficient cash on hand to make the payments required on the Effective Date. Pursuant to Section 1192(c)(2)(A) of the Bankruptcy Code, all of the projected disposable income of the Debtor to be received in the 3-year period, or such longer period not to exceed 5 years as the Court may fix, beginning on the date that the first payment is due under the Plan will be applied to make payments under the Plan. A full-text copy of the Plan of Reorganization dated August 29, 2023 is available at https://urlcurt.com/u?l=LfDPvN from PacerMonitor.com at no charge. Attorney for Debtor: Ryan A. Blay, Esq. WM Law 15095 W. 116th St. Olathe, KS 66062 Tel: (913) 422-0909 Fax: (913) 428-8549 Email: blay@wagonergroup.com About The One Bridal The One Bridal, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Kan. Case No. 23-20605) on May 31, 2023, with $500,001 to $1 million in both assets and liabilities. G. Matt Barberich, Jr. of B. Riley Advisory Services has been appointed as Subchapter V trustee. Judge Robert D. Berger oversees the case. The Debtor is represented by Ryan A. Blay, Esq., at WM Law. OPYS HOLDINGS: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------------ Seven affiliates that concurrently filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code: Debtor Case No. ------ -------- OPYS Holdings Inc. 23-03909 One Indiana Square, Suite 2060 Indianapolis, IN 46204 OPYS Physician Services, LLC 23-03912 One Indiana Square, Suite 2060 Indianapolis, IN 46204 OPYS Locums, LLC 23-03913 One Indiana Square, Suite 2060 Indianapolis, IN 46204 Pacific Telemedicine Network LLC 23-03915 5534 Saint Joe Road Fort Wayne, IN 46835 Empire Physician Services, LLC 23-03916 5534 Saint Joe Road Fort Wayne, IN 46835 Portage Staffing Solutions, LLC 23-03917 TriStar Physician Services, LLC 23-03920 Business Description: OPYS is hospital physician management group providing physician outsourcing services for ER, hospitalists, & telemedicine. Chapter 11 Petition Date: September 5, 2023 Court: United States Bankruptcy Court Southern District of Indiana Judge: Hon. Robyn L Moberly Debtors' Counsel: Meredith R. Theisen, Esq. RUBIN & LEVIN, P.C. 135 North Pennsylvania Street Suite 1400 Indianapolis, IN 46204 Tel: (317) 634-0300 Email: mtheisen@rubin-levin.net OPYS Holdings Total Assets: $19,701 OPYS Holdings Total Liabilities: $18,500,568* OPYS Physician Services' Total Assets: $6,564 OPYS Physician Services' Total Liabilities: $14,355,261* OPYS Locums' Total Assets: $6,927 OPYS Locums' Total Liabilities: $6,296,963* Pacific Telemedicine's Total Assets: $37,515 Pacific Telemedicine's Total Liabilities: $5,033,059* Empire Physician's Total Assets: $15,815 Empire Physician's Total Liabilities: $150,058* *The amount for total liabilities includes contingent and disputed debts and debts owed to one or more affiliates and insiders. The petitions were signed by Andre T. Creese, M.D. as president and CEO. Full-text copies of the petitions containing, among other items, lists of the Debtors' 20 largest unsecured creditors are available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/J7GO23Q/OPYS_Holdings_Inc__insbke-23-03909__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/JZZHFLA/OPYS_Physician_Services_LLC__insbke-23-03912__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/OFHPLZY/OPYS_Locums_LLC__insbke-23-03913__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/OCN7ITY/Pacific_Telemedicine_Network_LLC__insbke-23-03915__0001.0.pdf?mcid=tGE4TAMA https://www.pacermonitor.com/view/HWU3G7I/Empire_Physician_Services_LLC__insbke-23-03916__0001.0.pdf?mcid=tGE4TAMA PACIFIC BEND: Seeks to Extend Plan Exclusivity to February 28 ------------------------------------------------------------- Pacific Bend, Inc. asks the U.S. Bankruptcy Court for the Central District of California to extend the exclusivity period from August 28, 2023 to February 28, 2024. The Debtor stated that it has filed its plan and disclosure statement on June 28, 2023. The Debtor, however, also stated that while it has filed its plan, it is still in the process of approving the adequacy of the disclosure statement which must be done before the plan can be confirmed. The Debtor explained that it needs time to address any issues regarding the adequacy of the disclosure statement, have the deadlines related to plan confirmation set, address any objections to the plan, and otherwise complete confirmation of the plan. Pacific Bend, Inc. is represented by: David R. Haberbush, Esq. Vanessa M. Haberbush, Esq. Lane K. Bogard, Esq. HABERBUSH, LLP 444 West Ocean Boulevard, Suite 1400 Long Beach, CA 90802 Tel: (562) 435-3456 Email: vharberbush@lbinsolvency.com About Pacific Bend Pacific Bend, Inc., is a manufacturer of pallet racking in Hemet, Calif. Pacific Bend sought protection under Chapter 11 of the Bankruptcy Code (Bankr. C.D. Calif. Case No. 23-10761) on Feb. 28, 2023, with up to $50 million in both assets and liabilities. Darlene Barios, president and chief executive officer of Pacific Bend, signed the petition. Judge Wayne Johnson oversees the case. The Debtor tapped Vanessa M. Haberbush, Esq., at Haberbush, LLP, as legal counsel and Wilson Ivanova Certified Public Accountants, Inc., APAC, as accountant. PERSHARD INVESTMENTS: Court OKs Interim Cash Collateral Access -------------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Florida, West Palm Beach Division, authorized Pershard Investments, LLC to use cash collateral on an interim basis in accordance with the budget. The Debtor requires the use of cash collateral to continue to maintain the business. Wells Fargo holds a security interest in all of the Debtor's assets including all accounts, receivables, future, fixtures, equipment, etc. Navitas holds a security interest in all of the Debtor's assets including all accounts, receivables, future, fixtures, equipment, etc. at the 143-1/2 N Congress Ave, Ste 22 location. GreatAmerica Financial Services has a valid first position blanket lien that is properly perfected and enforceable against all of Debtor's personal property located at 2939 SW High Meadow Ave., Palm City, FL 34990 and 2145 SE Federal Hwy, Stuart, FL 34994 securing aggregate indebtedness. Navitas has a valid first position blanket lien that is properly perfected and enforceable against all of Debtor's personal property located at 11762 SE Federal Hwy, Hobe Sound, 33455 securing aggregate indebtedness The estimated value of the secured assets at the time of the bankruptcy filing was approximately $6,000. North Mill Credit Trust has a valid first position blanket lien that is properly perfected and enforceable against all of Debtor's personal property located at 4956-16 Le Chalet Blvd; 6744 Forest Hill Blvd; 6534 S Kanner Hwy, Suite 201; and 4075 S State Rd 7 securing aggregate indebtedness. In connection with the Debtor's proposed use of cash collateral, the Creditors will have, nunc pro tunc as of the commencement of the Chapter 11 cases, a replacement lien pursuant to 11 U.S.C. Section 361(2) on and in all property of the Debtor acquired or generated after the Petition Date. The Creditors will not have or be granted a Replacement Lien on or against any claims or causes of action arising under 11 U.S.C. Sections 542 through 550 or on or against the proceeds of the Avoidance Actions. In the event that diminution occurs in the value of cash collateral from and after the Petition Date as a result of the Debtors' use thereof in an amount in excess of the value of the Replacement Liens granted, then the Creditors will be granted an administrative claim under 11 U.S.C. Section 507(b), with priority over all other administrative expense claims, subject to the Carve Out. Notwithstanding anything to the contrary, the Creditors' super-priority administrative expense claim will not attach to or be paid from the proceeds of the Avoidance Actions. The Replacement Liens granted to the Creditors will be valid and perfected without the need for the execution or filing of any further documents or instruments. The Replacement Liens will be subject and subordinate to any and all fees payable to the Subchapter V Trustee, the U.S. Trustee and/or the Clerk of the Bankruptcy Court. Commencing July 1, 2023 and continuing on the 1st day of each month thereafter, until otherwise ordered by the Court, the Debtor will make adequate protection payments to Creditors in the amount of $500 each per month. A further hearing on the matter is set for September 27, 2023 at 1:30 p.m. A copy of the Court's order and the Debtor's budget is available at https://urlcurt.com/u?l=krrayW from PacerMonitor.com. The Debtor projects $30,328 in gross profit and $25,132 in total expenses for one month. About Pershard Investments, LLC Pershard Investments, LLC owns and operates two Great Clip franchise locations. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 23-14552) on June 12, 2023. In the petition signed by Raam K. Pershard, managing member, the Debtor disclosed up to $50,000 in assets and up to $500,000 in liabilities. Judge Mindy A. Mora oversees the case. Brian K. McMahon, Esq., at Brian K. McMahon, PA, represents the Debtor as legal counsel. PLATFORM II LAWNDALE: Wins Cash Collateral Access Thru Sept 30 -------------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Illinois, astern Division, authorized Platform II Lawndale LLC to use cash collateral on an interim basis in accordance with the budget for the entire month of September 2023. GreenLake Real Estate Fund, LLC purports to hold a first priority lien and security interest in the Debtor's property, and the Debtor's cash and cash receipts received from the leasing of storage units, through a security interest and assignment of rents granted by the Debtor under an Open-End Mortgage, Security Agreement, Assignment of Rents and Leases and Fixture Filing dated May 18, 2018, and recorded with the Cook County Recorder of Deeds on May 22, 2018. The assets secure the repayment of a promissory note dated May 18, 2018, in the original principal sum of $6.250 million. As adequate protection, Greenlake is granted a replacement lien on the Debtor's rents, accounts and accounts receivables. As further adequate protection for Greenlake's interests in the Pre-Petition Collateral, and consistent with 11 U.S.C. Section 552, the Debtor grants Greenlake a replacement lien on the Debtor's rents, accounts, and accounts receivables derived from the Property, which are of the same type or nature as the Pre-Petition Collateral, coming into existence or acquired by the Debtor respecting the Property on or after the Petition Date. The Post-Petition Liens granted to Greenlake under the terms of the Order will be valid and perfected as of the date of the Order, without the need for the execution or filing of any further document or instrument otherwise required to be executed or filed under applicable non-bankruptcy law. The Debtor's authority to use Cash Collateral will terminate on the earlier of (a) the date of entry by the Court of an order modifying or otherwise altering the effectiveness of the Order, (b) an Event of Default, or (c) the expiration of the Budget Period. These events constitute an "Event of Default": a. Entry of an order converting the Debtor's Chapter 11 case to a case under Chapter 7 of the Bankruptcy Code, which order is not stayed within 10 days of the entry of such order; b. The entry of an order dismissing the Debtor's Chapter 11 case, which is not stayed within 10 days of the entry of such order; and c. The Debtor's failure to comply with any provision of the Order. A continued hearing on the matter is set for September 27, 2023 at 10:45 a.m. A copy of the Court's order is available at https://urlcurt.com/u?l=nBTOSP from PacerMonitor.com. About Platform II Lawndale LLC Platform II Lawndale LLC is an Illinois limited liability company that owns a self-storage facility at 1750 North Lawndale Avenue in Chicago's West Logan Square neighborhood. The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ill. Case No. 22-07668) on July 11, 2022. In the petition signed by Scott Krone, manager, the Debtor disclosed up to $50 million in both assets and liabilities. Judge Deborah L. Thorne oversees the case. Gregory J. Jordan, Esq., at Jordan & Zito LLC is the Debtor's counsel. PLOURDE SAND: Disclosures Denied, Amendments Due Oct. 4 ------------------------------------------------------- Judge Bruce A. Harwood has entered an order denying approval to the Disclosure Statement of Plourde Sand & Gravel Co., Inc. The Debtor's attorneys must file an Amended Plan, Amended Disclosure Statement, and a Motion to Approve Disclosure Statement on or before October 4, 2023. A hearing on the Amended Disclosure Statement will be held on November 15, 2023, at 2:00 P.M. About Plourde Sand & Gravel Plourde Sand & Gravel Co., Inc., owns eight properties located in New Hampshire having an aggregate total value of $5.34 million. Plourde Sand filed for Chapter 11 bankruptcy protection (Bankr. D.N.H. Case No. 23-10039) on Jan. 30, 2023. In the petition signed by Daniel O. Plourde, sole shareholder and vice president, the Debtor disclosed $9,192,623 in assets and $8,072,411 in liabilities. Judge Bruce A. Harwood oversees the case. William S. Gannon PLC is the Debtor's legal counsel. POMONA VALLEY: No Patient Complaints, 2nd PCO Report Says --------------------------------------------------------- Tamar Terzian, the court-appointed patient care ombudsman, filed with the U.S. Bankruptcy Court for the Central District of California her second report regarding the home health care facility operated by Pomona Valley Home Care, Inc. The PCO found that the patients are well monitored and the nurses had knowledge of the patient's needs. The home was clean and had ample medical supplies for the patients' needs. The patients visited one to two hours care per visit. The PCO's observation of the Licensed Vocational Nurse in charge was positive as they are fully trained by Pomona to assure the patients are safe and have proper medication or medical equipment based on each patient's needs. Pomona has received no complaints from any patient or with respect to the caregivers. The PCO has received no complaints from the various patients visited for this interim report, which covers the period June 21 to August 21, 2023. The families of the patient had no complaints with the level of care provided by the LVN. The PCO finds that all care provided to the patients by Pomona is well within the standard of care. A copy of the Ombudsman Report is available for free at https://urlcurt.com/u?l=3cq91c from PacerMonitor.com. The ombudsman may be reached at: Tamar Terzian Terzian Law Group, PC 1122 East Green St. Pasadena, CA 91106 Phone (818) 242-1100 Email: tamar@terzlaw.com About Pomona Valley Pomona Valley Home Care, Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. C.D. Calif. Case No. 23-12116) on April 7, 2023, with $100,001 to $500,000 in both assets and liabilities. Susan K. Seflin has been appointed as Subchapter V trustee. Judge Sheri Bluebond oversees the case. The Debtor is represented by Thomas B. Ure, Esq., at Ure Law Firm. Tamar Terzian is the patient care ombudsman appointed in the Debtor's Chapter 11 case. PROPERTY ADVOCATES: Wins Cash Collateral Access Thru Sept 28 ------------------------------------------------------------ The U.S. Bankruptcy Court for the Southern District of Florida, Miami Division, authorized the Property Advocates, P.A. to use cash collateral on interim basis, through September 28, 2023. The Debtor is permitted to use cash collateral to pay: (a) the amounts expressly authorized by the Court, including payments to the United States Trustee for quarterly fees; and (b) the current and necessary expenses comprised within the interim budget, with a 10% variance. As previously reported by the Troubled Company Reporter, Scot Strems may assert a first priority security interest in the Debtor's accounts and accounts receivable by virtue of a Security Agreement dated July 9, 2020 that purports to create a lien on the Debtor's personal property to secure a Promissory Note of even date in the amount of $40 million. The purported lien facially described in the Security Agreement was never perfected by the filing of a Florida Uniform Commercial Code Financing Statement Form. The court ruled that Strems will have a post-petition interest against cash collateral to the same extent and with the same validity and priority as his respective prepetition interest, without the need to file or execute any document as may otherwise be required under applicable non-bankruptcy law. Any liens and claims of Strems will be subject to (a) the payment of any unpaid fees payable pursuant to 28 U.S.C. section 1930. A continued hearing on the matter is set for September 28 at 1 p.m. A copy of the court's order is available at https://urlcurt.com/u?l=Z2EVwN from PacerMonitor.com. About The Property Advocates, P.A. The Property Advocates, P.A. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bakr. S.D. Fla. Case No. 23-16797-RAM) on August 25, 2023. In the petition signed by Hunter Patterson, president, the Debtor disclosed up to $10 million in assets and up to $50 million in liabilities. Judge Robert A. Mark oversees the case. Paul N. Mascia, Esq., at Nardella & Nardella, PLLC, represents the Debtor as legal counsel. PROPPANT TECH: Wins Cash Collateral Access ------------------------------------------ The U.S. Bankruptcy Court for the Western District of Texas, San Antonio Division, authorized Proppant Tech Services, LLC to use the cash collateral of of I.M. Investments, LLC on an interim basis. As previously reported by the Troubled Company Reporter, Amarillo National Bank, as lender, and Proppant, as borrower, entered into, among other documents and agreements, the Promissory Note (Equipment Loan) in the amount of $2.641 million dated January 18, 2023, the Promissory Note (Affiliate Refinance Loan) in the amount of $1.431 million dated January 18, 2023, and that Promissory Note (Affiliate Payoff Loan) in the amount of $2.875 million. The Notes were guaranteed by Moran and Haldar. As of the Petition Date, Proppant allegedly owes I.M. approximately $8.8 million on behalf of the Notes. I.M. allegedly filed a UCC-1 Financing Statement against Proppant regarding the Notes Pre-Petition Collateral. As result, I.M. alleges that pursuant to the Notes, he has a first priority lien on all assets of Proppant, including Proppant's cash. As adequate protection for any diminution in value incurred by I.M. through the Debtors' use of cash collateral, the Debtors will (i) maintain the value of its business as a going-concern, (ii) provide to I.M. replacement liens on now owned and after-acquired cash derived from I.M.'s Collateral, and (iii) provide superpriority administrative claims to I.M. equal to any diminution in value of I.M.'s Collateral. The court said a hearing on the Second Cash Collateral is set for September 1, 2023 at 2 p.m. A copy of the order is available at https://urlcurt.com/u?l=EPUFHX from PacerMonitor.com. About Proppant Tech Services, LLC Proppant Tech Services, LLC is a sand mining business in San Antonio that produces and sells special silica sands, otherwise known as "frac sand." The frac sand, which is produced through the wet sand method, is sold to oil and gas businesses engaged in hydraulic fracturing, or "fracking." The Debtor sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case No. 23-50734) on June 11, 2023. In the petition signed by Anirban Haldar, member, the Debtor disclosed $8,622,400 in assets and $8,770,018 in liabilities. Judge Michael M. Parker oversees the case. Brandon J. Tittle, Esq., at Glast, Phillips and Murray, PC, represents the Debtor as legal counsel. PVP KREWSTOWN: Seeks to Tap Underwood Murray as Bankruptcy Counsel ------------------------------------------------------------------ PVP Krewstown, LLC seeks approval from the U.S. Bankruptcy Court for the Southern District of Florida to employ Underwood Murray, PA as its counsel. 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 businesses and property; (b) attend meetings and negotiate with representatives of creditors and other parties involved in the Debtor's Chapter 11 case and advise and consult on the conduct of the case; (c) advise the Debtor in connection with any contemplated sales or administration of assets or business combinations; (d) advise the Debtor in connection with post-petition financing arrangements, pre-bankruptcy financing arrangements, and post-petition financing and capital structure, and negotiate and draft documents relating thereto; (e) take all necessary action to protect and preserve Debtor's estate; (f) prepare legal papers; (g) negotiate and prepare a plan of reorganization, disclosure statement and all related agreements or documents, and take any necessary action to obtain confirmation of such plan; (h) attend meetings with third parties and participate in negotiations; (i) appear before the bankruptcy court, any appellate courts and the U.S. trustee; and (j) perform all other necessary legal services in connection with this Chapter 11 case. The hourly rates of the firm's counsel and staff are as follows: Thomas Messana $625 Scott Underwood $575 Other Attorneys and Paraprofessionals $140 - $450 On Aug. 1, Underwood Murray received $125,000 from Allerand UBSP HoldingCo LLC, an affiliate of the Debtor. Thomas Messana, Esq., an attorney at Underwood Murray, 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: Thomas M. Messana, Esq. Scott A. Underwood, Esq. Megan W. Murray, Esq. Underwood Murray, PA 100 N. Tampa St., Suite 2325 Tampa, FL 33602 Telephone: (813) 540-8401 Facsimile: (813) 553-5345 Email: tmessana@underwoodmurray.com sunderwood@underwoodmurray.com mmurray@underwoodmurray.com About PVP Krewstown PVP Krewstown, LLC filed voluntary Chapter 11 petition for Chapter 11 protection (Bankr. S.D. Fla. Case No. 23-16198) on Aug. 4, 2023, with $10 million to $50 million in both assets and liabilities. Richard Sabella, manager, signed the petition. Judge Mindy A. Mora oversees the case. Thomas M. Messana, Esq., at Underwood Murray, PA serves as the Debtor's bankruptcy counsel. R&W CLARK CONSTRUCTION: Court OKs Cash Access Thru Sept 28 ---------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, authorized R&W Clark Construction, Inc. to use cash collateral on an interim basis in accordance with the budget, with a 10% variance, through September 28, 2023. As previously reported by the Troubled Company Reporter, three creditors may assert a security interest in and to the Debtor's assets: a. The Illinois Department of Employment Security asserts a security interest in the Collateral based upon the filing of notices of lien filed for the time period from February 11, 2004 through December 11, 2018. The IDES asserts a secured claim in the amount of $294,758. b. The Internal Revenue Service asserts a security interest in the Collateral based upon the filing of notices of lien filed for the time period from August 7, 2012 through February 23, 2023. The IRS asserts a secured claim in the amount of $1,210,075. c. The U.S. Small Business Administration asserts a security interest in the Collateral by virtue of a UCC Financing Statement filed with the Illinois Secretary of State on March 12, 2021 related to two Notes, dated February 26, 2021 and September 7, 2021 in the amounts of $150,000 and $500,000, respectively. The current balance due the SBA is $650,000. Based upon the IDES' and the IRS' higher priority lien claims in and to the Collateral, there exists no equity in the Collateral to support the SBA's secured claim. As adequate protection, the IDES, the IRS and any other lien claimants are granted valid and perfected replacement liens in and to post-petition cash collateral and all post-petition property of the Debtor of the same type or kind substantially equivalent to the pre-petition Collateral (excepting avoidance actions of the estate) to the same extent and with the same priority as held pre petition. A further hearing on the matter is set for September 27, 2023 at 10 a.m. A copy of the order is available at https://urlcurt.com/u?l=snL6ve from PacerMonitor.com. About R&W Clark Construction R&W Clark Construction, Inc. filed a petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 23-03279) on March 11, 2023. In the petition filed by Richard Clark, president and sole shareholder, the Debtor reported up to $50,000 in assets and up to $10 million in liabilities. Judge Timothy A. Barnes oversees the case. The Debtor tapped Gregory K. Stern, PC as counsel and Ziegler & Associates, Ltd. as accountant. R&W CLARK CONSTRUCTION: Seeks Extension to File Plan Until Oct. 27 ------------------------------------------------------------------ R&W Clark Construction, Inc., is requesting an extension of time to file an amended plan until October 27, 2023. At the August 9, 2023, status hearing on the Plan, while no order was entered setting a deadline for the Debtor to amend its Plan, Counsel for the Debtor advised that an amended plan was necessary and same would be filed by August 28, 2023. Based on the following, the Debtor is unable to meet that deadline. Since the filing of the Plan, the following has occurred: (a) The day after the filing of the Plan, the Mid-America Carpenters Pension Fund amended its claim to include a priority unsecured claim in the amount of $217,950.72 priority claim. This amendment was based upon an audit which contained conclusions disputed by the Debtor. The Debtor is working to supply documents to the Mid-America's attorney to support a reduction of this priority claim. (b) On August 17, 2023, the Debtor filed an adversary complaint against the Laborers' Fund (23-00243) to determine the validity of its secured lien. In addition, the following matters remain unresolved and pending before this Court: (a) Objection to Claim #12 of the Chicago & Vicinity Laborers' District Council Pension Plan et al. (b) Objection to Claim #13 of Rick Clark, by the Chapter 7 Trustee in his individual bankruptcy case. (c) Objection to Claim #21 of the Construction & General Laborers District Council of Chicago & Vicinity, which is set for initial presentation on August 31, 2023. The total amount of unresolved disputed priority claims is $564,097.87. As the resolution of the above referenced matters will significantly impact the Debtor's formulation of its Plan of Reorganization, the Debtor is requesting an extension of time to file an amended plan until October 27, 2023. Counsel for the Debtor: Gregory K. Stern, Esq. Monica C. O'Brien, Esq. Dennis E. Quaid, Esq. Rachel S. Sandler, Esq. 53 West Jackson Boulevard, Suite 1442 Chicago, IL 60604 Tel: (312) 427-1558 About R&W Clark Construction R&W Clark Construction, Inc. filed a petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ill. Case No. 23-03279) on March 11, 2023. In the petition filed by Richard Clark, president and sole shareholder, the Debtor reported up to $50,000 in assets and up to $10 million in liabilities. Judge Timothy A. Barnes oversees the case. The Debtor tapped Gregory K. Stern, PC as counsel and Ziegler & Associates, Ltd. as accountant. RACHEL ONE: Salvatore LaMonica Named Subchapter V Trustee --------------------------------------------------------- The U.S. Trustee for Region 2 appointed Salvatore LaMonica, Esq., at LaMonica Herbst & Maniscalco, LLP, as Subchapter V trustee for Rachel One Holding Inc. Mr. LaMonica will be paid an hourly fee of $675 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. LaMonica declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Salvatore LaMonica, Esq. LaMonica Herbst & Maniscalco, LLP 3305 Jerusalem Avenue Suite 201 Wantagh, NY 11793 Phone: 516-826-6500 Email: sl@lhmlawfirm.com About Rachel One Rachel One Holding Inc. filed Chapter 11 petition (Bankr. E.D.N.Y. Case No. 23-42184) on June 22, 2023, with as much as $50,000 in assets and $100,001 to $500,000 in liabilities. Judge Elizabeth S. Stong oversees the case. Karamvir Dahiya, Esq., at Dahiya Law Offices, LLC represents the Debtor as bankruptcy counsel. RAKKI LLC: Court OKs Cash Collateral Access on Final Basis ---------------------------------------------------------- The U.S. Bankruptcy Court for the Northern District of Texas, Fort Worth Division, authorized Rakki LLC to use the cash collateral on an interim basis in accordance with the provisions in the projected budget, with a 10% variance. As previously reported by the Troubled Company Reporter, a search in the Texas Secretary of State shows that allegedly secured positions are held by: -- On Deck (UCC Filing No. 22-0032336344); -- MCA Servicing Company (UCC Filing No. 22-0033184326); -- Kalamata (UCC filing No. 22-0036657667); -- LiquidBee (UCC filing No. 22-0047333701); -- Torro (UCC filing No. 22-0047399167); -- Family Business Fund (UCC filing No. 22-0048507725); -- Gel Funding/Bridge Funding (UCC filing No. 22-0051894152); and -- Spring Funding (UCC filing No. 22-0053533992). As adequate protection for the use of cash collateral, the parties, to the extent they have a valid and perfected lien, are granted replacement liens on all post-petition cash collateral and post-petition acquired property to the same extent and priority they possessed as of the Petition Date only as to the diminution in value of their lien. A copy of the court's order and the Debtor's budget is available at https://urlcurt.com/u?l=9cvluS from PacerMonitor.com. The Debtor projects $285,000 in cash receipts and $262,900 in total cash disbursements for 30 days. About Rakki LLC Rakki LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 22-42669) on November 4, 2022. In the petition signed by Viet Nguyen, managing member, the Debtor disclosed up to $500,000 in assets and up to $1 million in liabilities. Judge Mark X. Mullin oversees the case. Robert C. Lane, Esq., at The Lane Law Firm, is the Debtor's legal counsel. REAMIR 57 CORP: Seeks 3rd Extension of Plan Approval Deadline ------------------------------------------------------------- Reamir 57 Corp. filed a motion to Extend Time to Confirm a Chapter 11 Small Business Plan of Reorganization and Disclosure Statement pursuant to 11 U.S.C. Sec. 1121(e). Specifically, the Debtor requests an extension of the time by which a Plan of Reorganization should be confirmed for an additional 90 days, through and including January 14, 2023. This third request is not made for the purpose of delay. The third requested extension of the time period for confirmation, is necessary due to the fact, that the time to confirm a plan is set to expire on October 16, 2023, but the Debtor needs an additional time to file a claim objection with respect to the claim filed by 508 Columbus Property LLC, to file a motion to approve a Settlement agreement reached with 100 West 74 Street LLC, and thereafter to amend a plan and disclosure statement, incorporating the reached terms. Furthermore, the Debtor reached a Supplemental Stipulation and order assuming Lease, resolving lease cure amount and waiving administrative rent claim (the "Supplemental Stipulation") with 57 Associates, LLC, which will be filed with the Court on presentment. Simply put, the Debtor needs additional time to proceed with the claim objection, to approve the settlement agreement and thereafter to file an Amended Plan and Disclosure statement. The requested extension of the time period for confirmation will allow the Debtor to confirm a Chapter 11 Plan without violating the Bankruptcy Code and to provide treatment to its Creditors. Counsel for the Debtor: Alla Kachan, Esq. LAW OFFICES OF ALLA KACHAN, P.C. 2799 Coney Island Avenue, Suite 202 Brooklyn, NY 11235 Tel.: (718) 513-3145 Fax: (347)342-3156 E-mail: alla@kachanlaw.com About Reamir 57 Corp. Reamir 57 Corp. owns four barber shops in Columbus Circle area of Manhattan, NY. Reamir 57 Corp. filed a Chapter 11 bankruptcy petition (Bankr. E.D.N.Y. Case No. 21-42294) on Sept. 8, 2021, disclosing as much as $1 million in both assets and liabilities. Judge Nancy Hershey Lord oversees the case. The Debtor tapped the Law Offices of Alla Kachan, P.C., as its legal counsel and Wisdom Professional Services, Inc., as its accountant. REEVES FARM: Oct. 17 Amended Disclosure Statement Hearing Set ------------------------------------------------------------- Judge Jerry Oldshue has entered an order within which October 17, 2023, at 9:30 a.m. at the U.S. Bankruptcy Court, Courtroom 2 East, 113 St. Joseph Street, Mobile, Alabama is the hearing to consider the approval of the amended disclosure statement of Reeves Farm Landco, LLC. Judge Oldshue further ordered that October 10, 2023 is fixed as the last day for filing and serving written objections to the amnded disclosure statement. A copy of the order dated August 29, 2023 is available at https://urlcurt.com/u?l=0hu2TG from PacerMonitor.com at no charge. Counsel for Debtor: Edward J. Peterson, Esq. Johnson Pope Bokor Ruppel & Burns, LLP 401 E. Jackson Street, Ste. 3100 Tampa, FL 33602 Telephone: (813) 225-2500 Email: epeterson@jpfirm.com About Reeves Farm Landco Reeves Farm Landco, LLC, is a single asset real estate (as defined in 11 U.S.C. Section 101(51B)). It is based in Spanish Fort, Ala. Reeves Farm Landco filed a petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Ala. Case No. 23-10844) on April 14, 2023. In the petition filed by Julius Marion Uter, manager, the Debtor reported between $1 million and $10 million in both assets and liabilities. Judge Jerry C. Oldshue oversees the case. Edward J. Peterson, Esq., at Johnson Pope Bokor Ruppel & Burns, LLP, serves as the Debtor's counsel. RIHH LLC: Seeks to Hire Lex Nova Law as Bankruptcy Counsel ---------------------------------------------------------- RIHH, LLC seeks approval from the U.S. Bankruptcy Court for the District of New Jersey to employ Lex Nova Law, LLC as its counsel. The firm will represent the Debtor in its Chapter 11 proceeding, including the prosecution and defense of motions and the preparation of a plan of reorganization, as required throughout the case. The hourly rates of the firm's counsel and staff are as follows: E. Richard Dressel $575 Associates/Partners $375 - $785 Paralegals $250 - $315 E. Richard Dressel, Esq., an attorney at Lex Nova Law, disclosed in a court filing that his firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: E. Richard Dressel, Esq. Lex Nova Law, LLC 10 E. Stow Road., Suite 250 Marlton, NJ 08053 Telephone: (856) 382-8211 Email: rdressel@lexnovalaw.com About RIHH LLC RIHH, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. N.J. Case No. 23-17209) on Aug. 21, 2023, with up to $500,000 in assets and up to $50 million in liabilities. Fabian A. Herrera, chief executive officer, signed the petition. E. Richard Dressel, Esq., at Lex Nova Law, LLC represents the Debtor as bankruptcy counsel. ROCK RIDGE: Class XI Unsecureds to Get 25% in Plan -------------------------------------------------- Rock Ridge Farms Partnership submitted a First Amended Chapter 11 Plan of Reorganization. On March 17-18, 2023, with Court approval, the Debtor sold its farm equipment and other personal property through public auction, with total sale proceeds of $3,525,565. The Court entered an Order directing the distribution of those proceeds. Under the Plan, Class XI General Unsecured Claims Accepting Immediate Payment are impaired. The Debtor will contribute the sum of $80,000 on or before the Effective Date which will be distributed on a pro rata basis to holders of claims in this Class. It is estimated that this will result in payment of at least 25% of the outstanding claims in this Class. This payment will be made in cash from the Exit Financing Proceeds, and will be deemed in full satisfaction of all claims in this Class. Confirmation of the Plan and payment as provided herein shall result in a release and waiver of claims that any member of this Class may have against the Debtor, co-debtors, guarantors, or the Partners, arising from the claims herein. Class XII General Unsecured Claims Not Accepting Immediate Payment are unimpaired. Holders of claims in this Class will receive nothing under this Plan, but reserve all rights and claims against the Debtor, co-debtors, guarantors, and the Partners. Claims in this Class are excepted from discharge without further action or order of the Court. RMT Investments, LLC, will provide financing to allow the Debtor to make payments under the Plan and exit bankruptcy under certain terms and conditions as more specifically reflected on Exhibit B of the First Amended Disclosure Statement. Upon confirmation, RMT will loan to the Debtor the amount of $3,500,000.00 (the "Exit Financing Proceeds"). Counsel for the Debtor: David F. Mills, Esq. NARRON WENZEL, P.A. P.O. Box 1567, 102 S. Third Street Smithfield, NC 27577 Tel: (919) 934-0049 Fax: (919) 938-1058 E-mail: dmills@narronwenzel.com A copy of the Plan of Reorganization dated August 19, 2023, is available at https://tinyurl.ph/EoJvd from PacerMonitor.com. About Rock Ridge Farms Partnership Rock Ridge Farms Partnership is in the business of farming sweet potatoes, soybeans, corn, and peanuts in and around Wilson County, N.C. Rock Ridge Farms sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. E.D.N.C. Case No. 23-00291) on Feb. 2, 2023, with up to $10 million in both assets and liabilities. Robert C. Boyette, partner at Rock Ridge Farms, signed the petition. Judge Joseph N. Callaway oversees the case. David F. Mills, Esq., at Narron Wenzel, P.A., is the Debtor's legal counsel. RODA LLC: Seeks to Extend Plan Exclusivity to September 25 ---------------------------------------------------------- RODA, LLC and Roy MacMillan ask the U.S. Bankruptcy Court for the District of Oregon to extend their exclusivity period from August 7, 2023 to September 25, 2023. The Debtors claim that they have made significant progress during the pendency of their case thus far. The Debtors stated that they have been approached with a framework for a possible sale transaction that will facilitate a confirmable plan of reorganization. The Debtors also stated that they have been in discussions with key creditors about the status of such sale negotiations and the possible treatment of creditors' claims in a plan of reorganization. The Debtors pointed out, however, that much of the work and analysis will depend on the terms of the sale transaction which will only be clear after the expiration of the exclusivity period. The Debtors explained that their counsel arrived at the deadlines by taking into consideration the bidding schedule as set forth in Debtor RODA, LLC’s Notice of Bidding Procedures, the notice period for any hearing as a result thereof, and the time necessary to incorporate any sale provisions or requirements into the plan of reorganization and incorporate how the sale proceeds will affect creditor distributions in the plan of reorganization. RODA, LLC is represented by: Douglas R. Ricks, Esq. Christopher N. Coyle, Esq. VANDEN BOS & CHAPMAN, LLP 319 SW Washington St., Ste. 520 Portland, OR 97204 Tel: 503-241-4869 Email: doug@vbcattorneys.com chris@vbcattorneys.com Roy MacMillan is represented by: Thomas W. Stilley, Esq. Joshua G. Flood, Esq. SUSSMAN SHANK LLP 1000 S.W. Broadway, Suite 1400 Portland, OR 97205-3089 Tel: (503) 227-1111 Email: tstilley@sussmanshank.com jflood@sussmanshank.com About RODA LLC RODA, LLC, a company in Washington County, Ore., sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Ore. Case No. 23-30250) on Feb. 6, 2023. In the petition signed by its managing member, Roy MacMillan, the Debtor disclosed up to $10 million in both assets and liabilities. MacMillan is a debtor in a separate Chapter 11 case (Bankr. D. Ore. Case No. 23-30159). The cases are jointly administered. Judge Teresa H. Pearson oversees the case. Douglas R. Ricks, Esq., at Vander Bos and Chapman, LLP, Intellequity Legal Services, LLC and Thomas L Strong CPA PC serve as the Debtor's bankruptcy counsel, special counsel and accountant, respectively. ROLL: BICYCLE: Seeks Cash Collateral Access ------------------------------------------- roll: Bicycle Company, LLC asks the U.S. Bankruptcy Court for the Eastern District of Ohio, Eastern Division, for authority to use cash collateral and provide adequate protection. The Debtor requires the use of cash collateral to fund their operations. Fifth Third Bank, National Association is the first lienholder. The Other Lien Claimants are Glick.biz, LLC, Friedl Bohm and Tucker Bohm. The obligations owed by the Debtors arise out of the Debtors' two debt facilities with Fifth Third consists of: (i) a term loan facility in the original principal amount of $950,000, dated November 30, 2021, and having an interest rate of 4.18% per annum, and (ii) a revolving line of credit facility in the original principal amount of $500,000, dated January 5, 2022, and having a monthly interest rate of 0.230% in excess of the prime rate (which is presently 8.5%). As of the Petition Date, the outstanding balances on the Fifth Third Term Loan and the Fifth Third LOC Loan were $747,384 and $496,077, respectively. In 2016 and 2017, Bicycle entered into a series of agreements with three parties: Friedl Bohm, Tucker Bohm and Glick.biz, LLC, whereby each of the Investor Noteholders lent varying sums of monies to roll: Bicycle under separate secured credit facilities which were evidenced by a series of promissory notes issued in 2016 and 2017. To secure the obligations of roll: Bicycle under the Original Notes, roll: Bicycle executed and delivered to the Investor Noteholders a Note Purchase and Security Agreement dated October 13, 2016 and a Note Purchase and Security Agreement dated October 26, 2017. Pursuant to the Purchase Agreements and to secure its obligations under the Original Notes, roll: Bicycle granted the Investment Noteholders a security interest in virtually all assets of Bicycle. As of the Petition Date, the amounts owed to each of the Investor Noteholders by roll: Bicycle are: $76,402 to T. Bohm, $152,079 to F. Bohm, and $152,079 to Glick. All amounts owed by the Debtors to Fifth Third will be subject to replacement liens in the same order and priority as the liens held by Fifth Third against the Debtors’ assets on a prepetition basis. Fifth Third asserts first and best liens in and to the assets of both roll: Bicycle and roll: Development. The Investment Noteholders will be provided with automatically perfected security interests in and liens on cash collateral in existence on the Petition Date, to the same extent, amount, and priority as their respective pre-petition security interests, if any, in cash collateral in existence on the Petition Date. The Investor Noteholders assert liens in and to the assets of roll: Bicycle. As reflected in the Budget, the Debtors propose to pay to Fifth Third, commencing on September 20, 2023, and continuing monthly thereafter, adequate protection payments in an amount equal to the respective rates of interest as provided under the Fifth Third Loans. The rate of interest on the Fifth Third Term Loan is 4.18% per annum, and results in an adequate protection payment on this obligation in the amount of $2,603 per month. The monthly rate of interest on the Fifth Third LOC Loan is 0.230% in excess of the prevailing prime rate of interest (presently 8.5%), and results in an adequate protection payment of $3,609 per month. The Order provides that the replacement liens and security interests granted to Fifth Third and the Investment Noteholders be subject and subordinate to i) allowed claims of professionals of the Debtors, ii) all fees required to be paid to the Clerk of the Court and to the Office of the United States Trustee under section 1930(a) of title 28 of the United States Code, and iii) the fees of the Subchapter V trustee. A copy of the motion is available at https://urlcurt.com/u?l=ingEUw from PacerMonitor.com. About roll: Bicycle Company, LLC roll: Bicycle Company, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Ohio Case No. 2:23-bk-53016) on August 31, 2023. In the petition signed by Stuart Hunter, chief executive officer, the Debtor disclosed up to $10 million in both assets and liabilities. James A. Coutinho, Esq., at Allen Stovall Neuman & Ashton LLP, represents the Debtor as legal counsel. ROOSEVELT INN: Unsecureds to Get $40,000 ---------------------------------------- Roosevelt Inn, LLC and Roosevelt Motor Inn, Inc. submitted a Modified Second Amended Joint Plan of Reorganization (With Technical Modifications). The comprehensive settlement embodied in the Plan (the "Settlement") provides the mechanism by which the universe of Tort Claims shall be permanently resolved, released and enjoined. The Settlement is explained in more detail in Article V.B. herein. In summary the Tort Claims include and are treated as follows: (A) Direct Tort Claims: means a Tort Claim that is not an Indirect Tort Related Claim. For the avoidance of doubt, Direct Tort Claims include the 15 Proofs of Claim filed with the Bankruptcy Court before the Bar Date for Tort Claims by each of the following Direct Tort Claimants: A.H., B.H., C.A., K.R., M.B., B.S., D.P., D.W., E.B., J.H., L.E., S.M., S.W., T.H., and T.S. and shall be (a) permanently channeled to the Settlement Trust and administered in accordance with the Trust Distribution Procedures in full satisfaction and release of any and all such Tort Claims against the Released Parties, and (b) permanently enjoined and released against the Released Parties pursuant to the Injunctions and Releases set forth in the Plan and the Plan Support Agreement. The process to establish allowance and valuation of these Direct Tort Claims is summarized below and fully set forth in the Trust Distribution Procedures. (B) Indirect Tort Related Claims: means a liquidated or unliquidated claim for contribution, indemnity, subrogation, or reimbursement whether contractual or implied by law (as those terms are defined by applicable non-bankruptcy law of the relevant jurisdiction), and any other derivative Tort Claim of any kind whatsoever whether in the nature of or sounding in contract, tort, warranty or any other theory of law or equity whatsoever, including any indemnification, reimbursement, hold-harmless or other payment obligation provided for under any prepetition insurance policy or contract; provided, however, that any retrospective premiums, deductibles, and self-insured retentions arising out of any Tort Claims under the Tort Insurance Policies shall not constitute an Indirect Tort Related Claim and shall be treated in accordance with Article IV.D.1 of the Plan. These Indirect Tort Related Claims shall be (a) permanently channeled to the Settlement Trust and administered in accordance with the Trust Distribution Procedures in full satisfaction and release of any and all such Indirect Tort Related Claims, and (b) permanently enjoined and released against the Released Parties pursuant to the Injunctions and Releases set forth in the Plan. The process to establish allowance and valuation of these Indirect Tort Related Claims is summarized below and fully set forth in the Trust Distribution Procedures. The Released Parties means, collectively, the following Persons, in each case in its or their respective capacities as such: (a) the Debtors; (b) the Reorganized RI; (c) the Reorganized RMI; (d) UFVS; (e) Patel; (f) the Equity Security Holders; (g) any Settling Insurance Company, and (h) all of such Persons' Representatives, provided, however, that Alpha Centurion is not a Released Party. To effectuate the foregoing Plan, the Plan and Plan Support Agreement provide for contributions from the Released Parties and Reorganized Debtors (as set forth in Article V.B of the Plan and Section 1 of the Plan Support Agreement) for, inter alia, the establishment of (a) the Settlement Trust for the payment and satisfaction of the Tort Claims, (b) the Professional Fee Reserve for the payment and satisfaction of the Allowed Professional Fee Claims, (c) the GUC Fund for the payment and satisfaction of the Allowed General Unsecured Claims, and (d) payment of and satisfaction of any other Allowed Claims in accordance with the provisions of the Plan. The Plan Proponents will seek to confirm the Plan pursuant to section 105(a) and other sections of the Bankruptcy Code to consummate the comprehensive Settlement embodied herein, including through the Settlement Trust. The Plan Proponents will only seek confirmation of the Plan if the Holders of Direct Tort Claims (Class 5) vote to accept the Plan in accordance with section 1126(c) of the Bankruptcy Code, and notwithstanding the Plan Proponents' rights under section 1129(a) and 1129(b) of the Bankruptcy Code, the Plan Proponents will not seek confirmation of the Plan if the Holders of Tort Claims (Class 5) vote to reject the Plan in accordance with section 1126(c) of the Bankruptcy Code. Under the Plan, Class 3 General Unsecured Claims are impaired. The Debtors acknowledge and agree that General Unsecured Claims are held by creditors who are core to the Debtors' operations, or creditors whose Claims, if Allowed, were incurred in furtherance of the Debtors' operations. Each holder thereof shall receive its Pro Rata share of the GUC Fund on each Distribution Date on account of its Allowed General Unsecured Claim. Reorganized RI shall deposit Cash into the GUC Fund by making a deposit in the amount of $40,000.00 Dollars, 120 days after the Effective Date. Distributions under the Plan shall be funded from the following sources: * The Reorganized Debtors shall fund (a) the Professional Fee Reserve on account of and satisfy Allowed Professional Fee Claims, (b) the Settlement Trust Contribution and (c) the GUC Fund, from the proceeds of any or all of the following sources: (i) the Exit Financing, (ii) the Equity Security Holders Contribution, (iii) the UFVS Contribution, (iv) the Patel Contribution, and (iv) Cash on hand on or after the Effective Date in accordance with the terms of the Plan and Confirmation Order; * The Reorganized Debtors shall fund Distributions on account of and satisfy Allowed General Unsecured Claims exclusively from the GUC Fund; * The Settlement Trust shall fund distributions on account of and satisfy compensable Tort Claims in accordance with the Trust Distribution Procedures from the Settlement Trust Assets; and * The Reorganized Debtors shall fund Distributions on account of and satisfy all other Allowed Claims with Cash on hand on or after the Effective Date in accordance with the terms of the Plan and the Confirmation Order. Attorneys for the Debtors and Debtors in Possession: Aris J. Karalis, Esq. Robert W. Seitzer, Esq. Robert M. Greenbaum, Esq. KARALIS PC 1900 Spruce Street Philadelphia, PA 19103 Tel: (215) 546-4500 A copy of the Plan of Reorganization dated August 23, 2023, is available at https://tinyurl.ph/GMaHJ from PacerMonitor.com. About Roosevelt Inn Roosevelt Inn, LLC, is a Philadelphia-based company that operates in the traveler accommodation industry. Roosevelt Inn and its affiliate, Roosevelt Motor Inn, Inc., filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Pa. Lead Case No. 21-11697) on June 16, 2021, listing as much as $10 million in both assets and liabilities. Anthony Uzzo, manager, signed the petitions. Judge Ashely M. Chan presides over the cases. The Debtors tapped Karalis, PC, as bankruptcy counsel; Asterion, Inc. as financial advisor; A. Uzzo & Company, CPA's PC as bookkeeper; and Blank Rome, LLP and Reed Smith, LLP as special counsel. S&R AFFORDABLE: Seeks to Tap Kutner Brinen Dickey Riley as Counsel ------------------------------------------------------------------ S&R Affordable Towing, LLC seeks approval from the U.S. Bankruptcy Court for the District of Colorado to employ Kutner Brinen Dickey Riley, PC. The Debtor requires legal counsel to: (a) give advice with respect to its powers and duties; (b) assist the Debtor in the development of a plan of reorganization under Chapter 11; (c) file the necessary pleadings, reports and actions, which may be required in the continued administration of the Debtor's property under Chapter 11; (d) take necessary actions to enjoin and stay until final decree continuation of pending proceedings, and enjoin and stay until final decree commencement of lien foreclosure proceedings and all matters as may be provided under 11 U.S.C. Sec. 362; and (e) perform other necessary legal services. The hourly rates of the firm's counsel and staff are as follows: Jeffrey S. Brinen $500 Jenny Fujii $410 Jonathan M. Dickey $350 Keri L. Riley $350 Paralegal $100 In addition, the firm will seek reimbursement for expenses incurred. The firm received a retainer of $8,500, of which $5,152 remained on the petition date. Jonathan Dickey, Esq., an attorney at Kutner Brinen Dickey Riley, disclosed in a court filing that his firm is a "disinterested person" as that term is defined in Section 101(14) of the Bankruptcy Code. The firm can be reached through: Jonathan M. Dickey, Esq. Kutner Brinen Dickey Riley, PC 1660 Lincoln Street, Suite 1720 Denver, CO 80264 Telephone: (303) 832-2400 Email: jmd@kutnerlaw.com About S&R Affordable Towing S&R Affordable Towing, LLC filed Chapter 11 petition (Bankr. D. Colo. Case No. 23-13732) on Aug. 21, 2023, with $100,001 to $500,000 in both assets and liabilities. Judge Michael E. Romero oversees the cases. Jonathan M. Dickey, Esq., at Kutner Brinen Dickey Riley, PC serves as the Debtors' legal counsel. SAN TAN AIR: Dawn Maguire Named Subchapter V Trustee ---------------------------------------------------- The U.S. Trustee for Region 14 appointed Dawn Maguire, Esq., at Guttilla Murphy Anderson, P.C. as Subchapter V trustee for San Tan Air Conditioning Comfort Professionals, Inc. Ms. Maguire will be paid an hourly fee of $350 for her services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Ms. Maguire declared that she is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Dawn Maguire, Esq. Guttilla Murphy Anderson, P.C. 5415 East High Street, Suite 200 Phoenix, AZ 85054 Telephone: (480) 304-8300 Fax: (480) 304-8301 Email: dmaguire@gamlaw.com About San Tan Air Conditioning San Tan Air Conditioning Comfort Professionals, Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Ariz. Case No. 23-05651) on Aug. 18, 2023, with $50,001 to $100,000 in assets and $100,001 to $500,000 in liabilities. Judge Scott H. Gan oversees the case. James F. Kahn, Esq., at Kahn & Ahart, PLLC represents the Debtor as legal counsel. SAS AB: Seeks to Extend Plan Exclusivity to November 8 ------------------------------------------------------ SAS AB and its subsidiaries ask the U.S. Bankruptcy Court for the Southern District of New York to further extend their exclusive periods to file a chapter 11 plan and to solicit acceptances of such a plan to November 8, 2023 and January 8, 2024, respectively. The Debtors claimed that they have made substantial progress in their chapter 11 cases. The Debtors stated that they focused significant effort and resources on commencing and progressing their equity solicitation process in accordance with the procedures approved by the Court on May 15, 2023. Additionally, the Debtors claimed that they have: (i) advanced the cost-savings initiatives set forth in their comprehensive SAS FORWARD plan and (ii) progressed negotiations with various stakeholders and other parties in interest on the terms of a chapter 11 plan and path to emergence. The Debtors explained that they are now progressing into the final stages of their chapter 11 cases: completing the equity solicitation process and proceeding toward confirmation of a plan. Unless extended, the Debtors' exclusive filing period and exclusive solicitation period expire on July 31, 2023 and September 29, 2023. SAS AB and its subsidiaries are represented by: Gary T. Holtzer, Esq. Kelly DiBlasi, Esq. David Griffiths, Esq. Lauren Tauro, Esq. WEIL, GOTSHAL & MANGES LLP 767 Fifth Avenue New York, NY 10153 Tel: (212) 310-8000 About Scandinavian Airlines SAS SAB -- https://www.sasgroup.net -- Scandinavia's leading airline, with main hubs in Copenhagen, Oslo and Stockholm, is flying to destinations in Europe, USA and Asia. In addition to flight operations, SAS offers ground handling services, technical maintenance, and air cargo services. SAS is a founder member of the Star Alliance, and together with its partner airlines offers a wide network worldwide. SAS AB and its subsidiaries, including Scandinavian Airlines Systems Denmark-Norway-Sweden and Scandinavian Airlines of North America Inc., sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 22-10925) on July 5, 2022. In the petition filed by Erno Hilden, authorized representative, SAS AB estimated assets between $10 billion and $50 billion and liabilities between $1 billion and $10 billion. Judge Michael E. Wiles oversees the cases. The Debtors tapped Weil, Gotshal & Manges, LLP as global legal counsel; Mannheimer Swartling Advokatbyra AB as special counsel; FTI Consulting, Inc. as financial advisor; Ernst & Young AB as tax advisor; and Seabury Securities, LLC and Skandinaviska Enskilda Banken AB as investment bankers. Seabury is also serving as restructuring advisor. Kroll Restructuring Administration, LLC is the claims agent and administrative advisor. The U.S. Trustee for Region 2 appointed an official committee to represent unsecured creditors in the Debtors' Chapter 11 cases. The committee is represented by Willkie Farr & Gallagher, LLP. SEAWALK INVESTMENTS: Case Remanded for Sky's Attorneys' Fees ------------------------------------------------------------ District Judge Timothy J. Corrigan for the Middle District of Florida remands the case captioned as SKY ENTERPRISES, LLC, Appellant, v. SEAWALK INVESTMENTS, LLC, Appellee, Case No. 3:21-cv-1148-TJC, (M.D. Fla.) to the bankruptcy court for the limited purpose of considering Sky Enterprises, LLC's request for attorneys' fees as part of the value of Sky's secured claim. The Court determines that the case should be remanded to the bankruptcy court to clarify its attorneys' fee determination. Sky requested that the bankruptcy court value its claim at $1,092,762 ($741,961 in principal balance; $19,412 in accrued interest; $294,383 in attorneys' fees; $25,000 in expert witness costs; and $12,006 in other costs). The bankruptcy court provided a sufficient explanation as to why Sky should not be awarded its full attorneys’ fees; however, it did not discuss what a reasonable number of hours would be, or generally how it determined the $50,000 figure. The Court does not prejudge what a reasonable fee would be and does not exclude the possibility that the $50,000 fee award is appropriate. However, the Court considers that the bankruptcy court must explicitly show that it conducted the lodestar or some other appropriate analysis in arriving at a reasonable fee. A full-text copy of the ORDER dated August 29, 2023, is available at https://urlcurt.com/u?l=mQ8qeY. About Seawalk Investments Seawalk Investments, LLC, a privately held company in Jacksonville, Fla., sought protection under Chapter 11 of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 19-01010) on March 21, 2019. At the time of the filing, the Debtor estimated assets between $1 million and $10 million and liabilities of between $1 million and $10 million. Judge Jerry A. Funk oversees the case. The Debtor hired Wilcox Law Firm as its bankruptcy counsel. SHERMAN/GRAYSON: Ombudsman Taps Neubert Pepe & Monteith as Counsel ------------------------------------------------------------------ Daniel McMurray, the patient care ombudsman appointed in the Chapter 11 case of Sherman/Grayson Hospital, LLC, seeks approval from the U.S. Bankruptcy Court for the District of Delaware to employ Neubert, Pepe & Monteith, PC as counsel. The firm will render these services: (a) advise the ombudsman concerning the requirements of the Bankruptcy Code and Rules and the appointment order relating to the discharge of his duties under Section 333 of the Bankruptcy Code; (b) represent the ombudsman in any proceeding or hearing in the bankruptcy court and in any action in other courts where the rights of the patients generally may be litigated or affected as a result of those cases; (c) advise the ombudsman in connection with gaining access to patient records in accordance with Section 333 of the Bankruptcy Code and other relevant law to the extent applicable; (d) advise and represent the ombudsman concerning the effect on patients of a potential reorganization, sale or other transfer of the Debtors' assets or closing of any of their programs or facilities; (e) assist the ombudsman in connection with his periodic reports; (f) monitor proceedings in this case to identify any proceedings which could affect patients or which reflect developments potentially affecting patients; and (g) perform other legal services. The hourly rates of the firm's counsel and staff are as follows: Mark I. Fishman $425 Other professionals $400 Mark Fishman, Esq., an attorney at Neubert, Pepe & Monteith, disclosed in a court filing that his firm is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code. The firm can be reached through: Mark I. Fishman, Esq Neubert, Pepe & Monteith, PC 195 Church Street, 13th Floor New Haven, CT 06510 Telephone: (203) 821-2000 Facsimile: (203) 821-2009 Email: mfishman@npmlaw.com About Sherman/Grayson Hospital Sherman/Grayson Hospital, LLC is the operator of Wilson N. Jones Regional Medical Center, a 207-bed acute care hospital in Sherman, Texas. Sherman/Grayson Hospital sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D. Del. Case No. 23-10810) on June 23,2023, with $1 million to $10 million in assets and $50 million to $100 million in liabilities. Judge J. Kate Stickles oversees the case. Leonard M. Shulman, Esq., at Shulman Bastian Friedman & Bui, LLP and Rosner Law Group, LLC serve as the Debtor's bankruptcy counsel and Delaware counsel, respectively. The U.S. Trustee for Region 3 appointed an official committee to represent unsecured creditors in the Debtor's Chapter 11 case. The committee tapped Potter Anderson & Corroon, LLP and RK Consultants, LLC as legal counsel and financial advisor. On July 21, 2023, Daniel McMurray was appointed as the patient care ombudsman in this Chapter 11 case. The ombudsman tapped Neubert, Pepe & Monteith, PC as his counsel. SKILLZ INC: Allows Key Employees to Own 20% Stake in Aarki ---------------------------------------------------------- In order to more directly incentivize the key employees of the Company's subsidiary, Aarki, Inc., Skillz Inc. made the determination to allow certain key employees of Aarki to receive equity awards in Aarki, consisting of a combination of option awards and restricted stock awards, which will vest over the next four years. On a fully diluted basis, the awards would represent approximately 20% of the ownership of Aarki. In connection with the grant of awards, the Company is also investing $5,000,000 in the form of Series A Preferred Stock of Aarki to properly allocate working capital to the business. The Company does not intend to grant any future Skillz equity awards to any Aarki employees, and all unvested Skillz equity awards have been surrendered by Aarki employees. In connection with the foregoing, Aarki is also being designated as an unrestricted subsidiary under the indenture governing the Company's 10.250% Secured Notes due 2026. About Skillz Inc. Headquartered in San Francisco, California, Skillz Inc. -- www.skillz.com -- is a mobile games platform dedicated to bringing out the best in everyone through competition. The Skillz platform helps developers create multi-million dollar franchises by enabling social competition in their games. Leveraging its patented technology, Skillz hosts billions of casual eSports tournaments for millions of mobile players worldwide, with the goal of building the home of competition for all. Skillz reported a net loss of $438.87 million in 2022, a net loss of $187.92 million in 2021, and a net loss of $149.08 million in 2020. As of March 31, 2023, the Company had $612.16 million in total assets, $357.77 million in total liabilities, and $254.38 million in total stockholders' equity. * * * As reported by the TCR on April 28, 2023, Moody's Investors Service downgraded Skillz Inc.'s corporate family rating to Caa2 from Caa1 following the company's recent repurchase of more than 50% of its outstanding debt at sizable discount to par, reducing available liquidity to fund projected cash flow deficits. Moody's said the Caa2 CFR reflects the increased risk that Skillz's debt capital structure is unsustainable due to reduced liquidity to fund projected cash flow deficits. Also in April 2023, S&P Global Ratings raised its issuer credit rating to 'CCC+' from 'SD' (selective default). The negative outlook reflects uncertainty around the Company's ability to turn its substantially negative cash flow positive over the next three years given ongoing challenges in right-sizing its operations and its unproven business model. SKILLZ INC: Appoints Jason Roswig as Interim Corporate Controller ----------------------------------------------------------------- Skillz Inc. disclosed in a Form 8-K filed with the Securities and Exchange Commission that it has appointed Jason Roswig, its president and chief financial officer, to the role of interim corporate controller and global head of accounting, and is in the process of searching for a qualified candidate to hire as the new full-time corporate controller and global head of accounting. Elly Ryu informed Skillz that she has decided to step down from her position as corporate controller and global head of accounting effective as of Sept. 8, 2023. Ms. Ryu has served in this role since April 3, 2023. Ms. Ryu's decision to step down was due to personal reasons and not as a result of any disagreement with the Company on any matter relating to its operations, policies or practices. Ms. Ryu has agreed to provide consulting and transition services to the Company for an interim period through the date the Company files its next report on Form 10-Q to provide operational continuity during the transition process. The Company thanked Ms. Ryu for her dedicated service to the Company. About Skillz Inc. Headquartered in San Francisco, California, Skillz Inc. -- www.skillz.com -- is a mobile games platform dedicated to bringing out the best in everyone through competition. The Skillz platform helps developers create multi-million dollar franchises by enabling social competition in their games. Leveraging its patented technology, Skillz hosts billions of casual eSports tournaments for millions of mobile players worldwide, with the goal of building the home of competition for all. Skillz reported a net loss of $438.87 million in 2022, a net loss of $187.92 million in 2021, and a net loss of $149.08 million in 2020. As of March 31, 2023, the Company had $612.16 million in total assets, $357.77 million in total liabilities, and $254.38 million in total stockholders' equity. * * * As reported by the TCR on April 28, 2023, Moody's Investors Service downgraded Skillz Inc.'s corporate family rating to Caa2 from Caa1 following the company's recent repurchase of more than 50% of its outstanding debt at sizable discount to par, reducing available liquidity to fund projected cash flow deficits. Moody's said the Caa2 CFR reflects the increased risk that Skillz's debt capital structure is unsustainable due to reduced liquidity to fund projected cash flow deficits. Also in April 2023, S&P Global Ratings raised its issuer credit rating to 'CCC+' from 'SD' (selective default). The negative outlook reflects uncertainty around the Company's ability to turn its substantially negative cash flow positive over the next three years given ongoing challenges in right-sizing its operations and its unproven business model. SSG LLC: Seeks Cash Collateral Access ------------------------------------- SSG, LLC asks the U.S. Bankruptcy Court for the Northern District of Georgia, Atlanta Division, for authority to use cash collateral to pay operating expenses in accordance with the budget, with a 10% variance. The U.S. Small Business Administration asserts a first priority lien upon the Debtor's assets as more particularly described in the UCC Initial Filing Number 038-2020-021665 filed on June 15, 2020, in the records of the Superior Court of Coweta County, Georgia, securing an asserted outstanding indebtedness of approximately $150,000. Ridgewood Group GA, LLC, asserts a lien upon the Debtor's assets as more particularly described in the UCC Initial Filing Number 031-2022-000174 filed on February 9, 2022, in the records of the Superior Court of Clayton County, Georgia. The Debtor does not know the amount of outstanding indebtedness this financing statement secures, but Ridgewood asserts a total outstanding indebtedness of approximately $375,640. Ridgewood, asserts a lien upon the Debtor's assets as more particularly described in the UCC Initial Filing Number 031-2023-000603 filed on May 10, 2023, in the records of the Superior Court of Clayton, County, Georgia. The Debtor does not know the amount of outstanding indebtedness this financing statement secures, but Ridgewood asserts a total outstanding indebtedness of approximately $375,640. OGD Equipment Company, LLC, assets a lien upon the Debtor's assets as more particularly described in the Claim of Lien filed on July 12, 2023, in the records of the Superior Court of Clayton, County, Georgia, securing an asserted outstanding indebtedness of approximately $4,370. The Debtor believes that Mark Hurt, former owner of the business, may assert a lien upon the Debtor's assets related to an asserted outstanding indebtedness of approximately $2.1 million. The Debtor has not found a UCC financial statement securing this outstanding indebtedness. On the Petition Date, upon information and belief, Debtor had approximately $0.00 cash on hand, approximately $3 million inventory on hand based on liquidation value, and approximately $12,000 in accounts receivable. The Debtor's Budget includes a proposed adequate protection payments to SBA, Chase Bank, and Harley Davison. A copy of the Debtor's motion and budget is available at https://urlcurt.com/u?l=CUU2GL from PacerMonitor.com. The Debtor projects total operating expenses, on a weekly basis, as follows: $17,024 for the week starting September 11, 2023; $16,832 for the week starting September 18, 2023; and $12,963 for the week starting September 25, 2023. About SSG LLC SSG LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 23-58340-sms) on August 30, 2023. In the petition signed by Brian Ramsey, member, the Debtor disclosed up to $10 million in both assets and liabilities. Leslie Pineyro, Esq., at Jones & Walden, LLC, represents the Debtor as legal counsel. ST. SEBASTIAN: Court OKs Interim Cash Collateral Access ------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, authorized St. Sebastian Hotels, LLC to use cash collateral on an interim basis in accordance with the budget. The Debtor is permitted to use cash collateral for 90 days to the extent necessary to comply with the terms of the Agreement contained in the Agreed Order Resolving United Business Bank's Motion for Relief from the Automatic Stay against Hotel and Granting Adequate Protection, which was also presented to the Court at the Hearing. The Debtor obtained possession of the motel in Alice, Texas, on August 10, 2023, pursuant to an agreed turnover order with Olympia Hospitality, LLC. The Debtor requires preliminary and interim use of its cash collateral to pay its necessary expenses of its business in the ordinary course. The creditors that purport to hold liens or security interests in rents or other cash collateral pursuant to a deed of trust are United Business Bank and Celtic Bank Corporation. The court said the Debtor may obtain additional equity investments that may be used as needed for additional maintenance or repairs to the Hotel. The Debtor's monthly operating reports will reflect these equity investments. The Debtor will not incur new indebtedness except (1) for maintenance and repairs for contractors to the Property or (2) by Court-approved motion in compliance with 11 U.S.C. Section 364(d). Nor will the Debtor's equity holder(s) take any distribution from the Debtor at any time before Plan confirmation, conversion to Chapter 7, removal of the Debtor as Debtor in Possession, or dismissal. The Debtor may employ managers, staff, and contactors as needed to operate the Property and comply with the Agreement. However, the Debtor's equity holders will not pay themselves compensation, except by Court approval upon motion. The Debtor's authority to use cash collateral will terminate immediately without further order of the Court upon conversion to Chapter 7, removal of the Debtor as Debtor in Possession, or dismissal of the Debtor's case. As adequate protection for its interest in cash collateral, United Business Bank is granted replacement liens on the Debtor's room rents and other Property revenues with the same extent and priority as existed pre-petition, and the Debtor agrees not to challenge the validity, extent, or priority of those liens. The automatic stay of 11 U.S.C. section 362(a) is modified to the extent necessary to grant the replacement liens. This prohibition on challenging United Business Bank's liens is not binding on other creditors, if any. A copy of the order is available at https://urlcurt.com/u?l=Vn8Fbr from PacerMonitor.com. About St. Sebastian's Hotels St. Sebastian's Hotels, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. S.D. Texas Case No. 23-32399) on June 30, 2023, with $500,001 to $1 million in both assets and liabilities. Sylvia Mayer, Esq., at S. Mayer Law, PLLC has been appointed as Subchapter V trustee. Judge Jeffrey P. Norman oversees the case. Reese W. Baker, Esq., at Baker & Associates represents the Debtor as legal counsel. STICKY HOLSTERS: Michael Markham Named Subchapter V Trustee ----------------------------------------------------------- The U.S. Trustee for Region 21 appointed Michael Markham as Subchapter V trustee for Sticky Holsters, Inc. Mr. Markham will be paid an hourly fee of $350 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Markham declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Michael C. Markham 401 E. Jackson Street, Suite 3100 Tampa, FL 33602 Phone: (727) 480-5118 Email: Mikem@jpfirm.com About Sticky Holsters Sticky Holsters, Inc. filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No. 23-00962) on Aug. 21, 2023, with $500,001 to $1 million in both assets and liabilities. Judge Caryl E. Delano oversees the case. Stephen R. Leslie, Esq., at Stichter, Riedel, Blain & Postler, P.A. represents the Debtor as legal counsel. SUN VALLEY: Hires Guidant Law PLC as Bankruptcy Counsel ------------------------------------------------------- Sun Valley Recovery LLC seeks approval from the U.S. Bankruptcy Court for the District of Arizona to employ Guidant Law, PLC to handle its Chapter 11 bankruptcy case. The firm will be paid based upon its normal and usual hourly billing rates. The firm will also be reimbursed for reasonable out-of-pocket expenses incurred. As disclosed in court filings, Guidant Law is a "disinterested person" pursuant to Section 101(14) of the Bankruptcy Code. The firm can be reached through: D. Lamar Hawkins, Esq. JoAnn Falgout, Esq. GUIDANT LAW, PLC 402 E. Southern Ave. Tempe, AZ 85282 Telephone: (602) 888-9229 Facsimile: (480) 725-0087 Email: lamar@guidant.law joann.falgout@guidant.law About Sun Valley Recovery LLC Sun Valley Recovery, LLC filed a petition under Chapter 11, Subchapter V of the Bankruptcy Code (Bankr. D. Ariz. Case No. 23-05552 on Aug. 15, 2023, with $1 million in both assets and liabilities. Sean Cooke, manager, signed the petition. Judge Daniel P. Collins oversees the case. D. Lamar Hawkins, Esq., at Guidant Law, PLC, represents the Debtor as legal counsel. SWS SERVICES: PCO Reports No Change in Patient Care --------------------------------------------------- Teresa Teeple, the patient care ombudsman, filed with the U.S. Bankruptcy Court for the Middle District of Tennessee a second report regarding the quality of patient care provided by SWS Services, Inc. The PCO directed District Ombudsman Melinda Lunday as representative to begin making frequent visits. The facility appeared much improved on this visit. Residents were happy and chatting in the dining room and a new caregiver had been hired. During the August 8 visit, the District Ombudsman saw for sale signs posted around the home. The homeowner stated that the bank wanted to foreclose on the home and the only option is for her to put it up for sale. She expressed her desire to ensure that residents would be allowed to remain at the home and be taken care of. The District Ombudsman found seven residents in their recliners watching television. A caregiver and family member of a resident were in the room, as well. The facility was clean and the other two caregivers were helping residents in the bathroom, making beds and cleaning up. A copy of the ombudsman report is available for free at https://urlcurt.com/u?l=uCxeWe from PacerMonitor.com. About SWS Services, Inc. SWS Services, Inc., is a Tennessee corporation which operates Oak Hill Senior Living in Portland, TN. SWS Services sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D. Tenn. Case No. 23-00835) on March 8, 2023, with up to $500,000 in assets and up to $1 million in liabilities. Shanna Wheeler, owner and president, signed the petition. Judge Marian F. Harrison oversees the case. Steven L. Lefkovitz, Esq., at Lefkovitz and Lefkovitz, represents the Debtor. TIMBER PHARMACEUTICALS: Secures $3M Loan Commitment From LEO US --------------------------------------------------------------- Timber Pharmaceuticals, Inc., Timber Pharmaceuticals, LLC, BioPharmX, Inc., and LEO US Holding, Inc. ("Parent") have entered into a secured bridge loan agreement, pursuant to which Parent has agreed to loan Timber an aggregate amount of $3.0 million. The Bridge Loan will be secured by a continuing first priority lien and security interest in favor of Parent in and to all of Timber's right, title and interest in and to all of Timber's assets, wherever located, whether now existing or hereafter from time to time arising or acquired. The Loan Agreement was entered in connection with the Plan of Merger Agreement dated Aug. 20, 2023, by and among Timber, LEO US, LEO Spiny Merger Sub, Inc., a Delaware corporation and direct, wholly-owned subsidiary of Parent ("Merger Sub") and LEO Pharma A/S, a Danish Aktieselskab ("Guarantor"), providing for, among other things, the merger of Merger Sub with and into Timber, with Timber surviving the Merger as a wholly-owned subsidiary of Parent. Pursuant to the terms of the Bridge Loan Agreement, Parent has agreed to loan to Timber an aggregate amount of $3.0 million, paid as follows: * $2.0 million, upon the effectiveness of the Bridge Loan Agreement (which was advanced on Aug. 31, 2023); and * $1.0 million on Sept. 30, 2023. The Bridge Loan will be due and payable in full, together with all accrued and unpaid interest thereon on Nov. 17, 2023. Further, the Bridge Loan Agreement provides that, at the time of the consummation of the Merger, (i) the unpaid principal amount of $1.5 million of the Bridge Loan then outstanding, plus (ii) any interest accrued on the Bridge Loan through the Effective Time shall be extinguished. The remaining $1.5 million of the unpaid principal amount of the Bridge Loan then outstanding after the Effective Time, plus any interest accrued on such Bridge Loan after the Effective Time, shall be repaid pro-rata from each of the FDA Approval Milestone Amount and the Net Sales Milestone Amount (each as defined in the Contingent Value Rights Agreement, to be entered into pursuant to the Merger Agreement). Additionally, the Bridge Loan will accrue interest on a daily basis at a rate equal to 12% per annum, on the unpaid principal balance of the Bridge Loan then outstanding, computed on the basis of a year having 365 days and calculated for the actual number of days elapsed. In the event that Timber enters into an agreement with a third party that constitutes an Acquisition Proposal (as defined in the Merger Agreement), Timber must immediately repay an amount equal to the unpaid principal amount of the Bridge Loan multiplied by 1.25, plus any accrued and unpaid interest, fees or other Obligations (as defined in the Bridge Loan Agreement) outstanding thereunder. 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. TKEES INC: Wins Interim Cash Collateral Access Thru Sept 29 ----------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Florida, Broward Division, authorized TKEES, Inc. to use cash collateral on a further interim basis in accordance with the budget, with a 10% variance, through September 29, 2023. As previously reported by the Troubled Company Reporter, the Debtor believes four creditors assert secured claims against the estate: -- Hilldun Corporation asserts a secured claim in the approximate amount of $300,000. Per UCC financing statements filed by Hilldun, the claim is secured by security interests in the Debtor's accounts, instruments, contract rights, chattel paper, documents and general intangibles. -- Shopify Capital, Inc. asserts a secured claim in the approximate amount of $290,536. Upon information and belief a UCC financing statement filed against the Debtor by Corporation Service Company, as a representative, perfects the Shopify debt. Per the financing statement, the debt is secured by all assets of the Debtor. -- Windsor Private Capital asserts a secured claim in the approximate amount of $5.832 million. However, no UCC financing statements appear to have been filed by Windsor against the Debtor. As such, any security interest Windsor may allege is not perfected and subject to avoidance in the case. -- Power One Capital Corp. asserts a secured claim in the approximate amount of $369,221. As with Windsor, however, Power One does not appear to have filed a UCC financing statement against the Debtor. Its security interest is therefore unperfected and subject to avoidance. As adequate protection, the creditors are granted a post-petition security interest and lien in, on, to, and against any and all assets of the Debtor, to the same extent, perfection and priority that the Creditors held a properly perfected pre-petition security interest in such assets. A further hearing on the matter is set for September 27 at 11 a.m. A copy of the Court's order is available at https://urlcurt.com/u?l=CeWF4B from PacerMonitor.com. About TKEES, Inc. TKEES, Inc. is a manufacturer and seller of sandals and flip flops for women. TKEES, Inc. sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 23-12126) on March 20, 2023. In the petition signed by Jesse Burnett, president, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Scott M. Grossman oversees the case. Bradley S. Shraiberg, Esq., at Shraiberg Page P.A., represents the Debtor as legal counsel. TNC SRQ: Case Summary & Three Unsecured Creditors ------------------------------------------------- Debtor: TNC SRQ, LLC 5174 Siesta Cove Avenue Sarasota, FL 34242 Chapter 11 Petition Date: September 5, 2023 Court: United States Bankruptcy Court Middle District of Florida Case No.: 23-03902 Debtor's Counsel: Benjamin G. Martin, Esq. LAW OFFICES OF BENJAMIN MARTIN 3131 S. Tamiami Trail, Suite 101 Sarasota, FL 34239-5101 Tel: (941) 951-6166 Fax: (941) 706-2411 Estimated Assets: $1 million to $10 million Estimated Liabilities: $1 million to $10 million The petition was signed by Troy Jenkins as manager. A full-text copy of the petition containing, among other items, a list of the Debtor's three unsecured creditors is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/5H2UEZY/TNC_SRQ_LLC__flmbke-23-03902__0001.0.pdf?mcid=tGE4TAMA UNITED BRANDS: Case Summary & 20 Largest Unsecured Creditors ------------------------------------------------------------ Debtor: United Brands Products Design Development & Marketing, Inc. d/b/a Whip-It! 170 Associated Road, Ste. A South San Francisco, CA 94080 Business Description: Whip-It! is a manufacturer of dispensers and chargers. Chapter 11 Petition Date: September 5, 2023 Court: United States Bankruptcy Court Northern District of California Case No.: 23-30604 Judge: Hon. Hannah L. Blumenstiel Debtor's Counsel: Michael W. Malter, Esq. BINDER & MALTER, LLP 2775 Park Avenue Santa Clara, CA 95050 Tel: (408) 295-1700 Email: Michael@bindermalter.com Estimated Assets: $10 million to $50 million Estimated Liabilities: $1 million to $10 million The petition was signed by Nesser David Zahriya as president. A full-text copy of the petition is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/LYQTEUY/United_Brands_Products_Design__canbke-23-30604__0001.0.pdf?mcid=tGE4TAMA List of Debtor's 20 Largest Unsecured Creditors: Entity Nature of Claim Claim Amount ------ --------------- ------------ 1. Internal Revenue Service 2023 Estimated $1,600,000 Special Procedures Federal Taxes PO Box 7346 Philadelphia, PA 19101-7346 2. Franchise Tax Board 2023 Estimated $700,000 Bankruptcy Unit State Taxes P.O. Box 2952 Sacramento, CA 95812 3. Beazley Troutman Trade Debt $282,395 Pepper Himilton Sanders 5 Park Plaza, Suite 1400 Irvine, CA 92614 4. American Express Trade Debt $115,000 P.O. Box 0001 Los Angeles, CA 90096-8000 5. Span Tech LLC Deposit $22,544 1115 Cleveland Avenue Glasgow, KY 42141-0369 6. Kaiyun Industrial Trade Debt $16,479 Development Ltd. Room 803, Chevalierhouse 45-51 Chatham Roud Souoth Tsim Sha Tsui, Kowloon, Hong Kong 7. Fedex Trade Networks Trade Debt $12,228 PO Box 842206 Boston, MA 02284-220 8. Winsight, LLC Trade Debt $11,585 PO Box 844604 Boston, MA 02284-4604 9. Morrison Express Trade Debt $9,730 Corp. USA 2000 South Hughes Way El Segundo, CA 90245 10. CliftonLarsonAllen, LLP Trade Debt $9,450 PO Box 31001-2443 Pasadena, CA 91110-244 11. Yusen Logistics Trade Debt $9,036 (Americas), Inc. Dept AT 952154 Atlanta, GA 31192-2154 12. Estes Express Lines Trade Debt $8,897 PO Box 105160 Atlanta, GA 30348-5160 13. Verso Law Group, LLP Trade Debt $8,858 209 Kearny Street, 3rd Floor San Francisco, CA 94108 14. Semke Forensick Trade Debt $8,391 154 Hughes Lane Saint Charles, MO 63301 15. PG&E Trade Debt $8,000 P. O. Box 997300 Sacramento, CA 95899-7300 16. Kenneth R. Thompson Trade Debt $8,000 4696 Jarvis Avenue San Jose, CA 95118 17. Bluecrew, Inc. Trade Debt $6,475 PO Box 743554 Los Angeles, CA 90074-3554 18. ArcBest Trade Debt $6,123 PO Box 667 Belmont, NC 28012-0667 19. JAS Forwarding (USA), Inc. Trade Debt $5,871 Dept 3570 P. O. Box 123570 Dallas, TX 75312-3570 20. Naegeli Deposition Trade Debt $5,853 and Trial 111 SW Fifth Avenue, Suite 2020 Portland, OR 97204 UNITED FURNITURE: Phoenix Acquires Real Estate Portfolio -------------------------------------------------------- Affiliates of Milwaukee-based real estate firm Phoenix Investors, the market leader in the renovation and leasing of former single-tenant manufacturing facilities, announced the acquisition of a large industrial real estate portfolio from United Furniture Industries ("United"). The acquisition included 13 facilities and 2 excess land sites located throughout North Carolina and Mississippi. United's well-known consumer brands included Lane and Simmons. Citing "unforeseen business circumstances," United terminated all employees and ceased all business operations on November 22, 2022. United filed petitions in United States bankruptcy court, seeking relief under Chapter 11 on January 31, 2023. The acquisition included United's 5 million square feet and land holdings of 626.5 acres. Phoenix's portfolio now exceeds 70 million square feet across 29 states. While the facilities vary, they each have great infrastructure; considerable yard space; are well docked; have substantial electric, gas, and water utilities; and many have access to rail and are climate controlled. Both North Carolina and Mississippi have been featured on 10 top lists of the most desirable states for manufacturing in the nation. "It can be a devastating blow to a community when a major employer is forced to shut its doors," said Anthony Crivello, Executive Vice President, Phoenix Investors. "Our mission at each of these facilities will be to bring commerce back to the host communities by securing exceptional employers that will invest alongside Phoenix in each of these communities to provide high-quality jobs." "We are very pleased to add these North Carolina and Mississippi plants and distribution centers to Phoenix's portfolio," said Frank Crivello, Founder & Chairman, Phoenix Investors. "Both North Carolina and Mississippi are excellent states for business with solid workforces and exceptional political and economic development leadership." "Since the pandemic, we have seen a significant increase in demand for industrial space by manufacturers," said David Marks, President & CEO, Phoenix Investors. "Over just the last few months, we have leased a record amount of space across our portfolio to manufacturing companies. We are confident we will attract high-quality manufacturing and distribution companies to these buildings as we work with local stakeholders in North Carolina and Mississippi." For more information, or to schedule a tour of a property, please contact Phoenix at https://phoenixinvestors.com/contact. About Phoenix Investors Phoenix Investors is the leading expert in the acquisition, renovation, and releasing of former manufacturing facilities in the United States. The revitalization of facilities throughout the continental United States leads to positively transforming communities and restarting the economic engine in the communities we serve. Our reconstruction and selective deconstruction of facilities provides a green alternative versus the standard demolition and replacement of legacy buildings. Phoenix's affiliate companies hold equity interests in a portfolio of industrial properties totaling over 70 million square feet spanning 29 states, delivering corporations with a cost-effective national footprint to dynamically supply creative solutions to meet their leasing needs. About United Furniture Industries United Furniture Industries, Inc. manufactures and sells upholstery. It offers bonded leather and upholstery fabric recliners, reclining sofas and loveseats, sectionals, and sofa sleepers, as well as stationary sofas, loveseats, chairs, and ottomans. United Furniture Industries was subject to an involuntary Chapter 7 bankruptcy petition (Bankr. N.D. Miss. Case No. 22-13422) filed on Dec. 30, 2022. The petition was signed by alleged creditors Wells Fargo Bank, National Association, Security Associates of Mississippi Alabama LLC, and V & B International, Inc. On Jan. 18, 2023, the court entered the order for relief, thereby, converting the case to one under Chapter 11. On Jan. 31, 2023, eight affiliates of United Furniture Industries filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Mississippi. The affiliates are LS Logistics, LLC, Furniture Wood, Inc., UFI Transportation, LLC, United Wood Products, Inc., Associated Bunk Bed Company, FW Acquisition, LLC, UFI Royal Development, LLC, and UFI Exporter, Inc. Their Chapter 11 cases are jointly administered under Case No. 22-13422. Judge Selene D. Maddox oversees the cases. Wells Fargo is represented by R. Spencer Clift, III, Esq., while Security Associates is represented by Andrew C. Allen, Esq., at The Law Offices of Andrew C. Allen. Derek Henderson is the trustee appointed in the Debtors' Chapter 11 cases. The trustee hired McCraney, Montagnet, Quin, Noble, PLLC as bankruptcy counsel; King & Spencer, PLLC, NC Eminent Domain Law Firm and Mullin Hoard & Brown, LLP as special counsels; Harper Rains Knight & Company as financial advisor; and B. Riley Real Estate, LLC as real estate advisor. VALLEY PORK: Seeks Cash Collateral Access ----------------------------------------- Valley Pork, LLC asks the U.S. Bankruptcy Court for the Southern District of Iowa for authority to use cash collateral and provide adequate protection to its prepetition secured lender, Farm Credit Services of America, PCA. Farm Credit holds a validly perfected and enforceable lien on and security interest in, among other things, the Debtor's real estate. As adequate protection, the Secured Creditor is granted a validly perfected first priority lien on and security interest in all of the Debtor's post-petition property and proceeds thereof. The post-petition security interests and liens proposed to be granted will be valid, perfected and enforceable and will be deemed effective and automatically perfected as of the Petition Date without the necessity of the Secured Creditor taking any further action. In the event of, and only in the case of Diminution of Value of the Secured Creditor's interests in the Collateral, a super-priority claim that will have priority in the Debtor's bankruptcy case over all priority claims and unsecured claims against the Debtor and its estate. This super-priority claim will be subject and subordinate only to the carve-out and not to any other unsecured claim (having administrative priority or otherwise). The Carve-Out will include any fees due to the U.S. Trustee pursuant to 28 U.S.C. Section 1930 and fees and expenses incurred by the Debtor's professionals and approved by the Court. As further adequate protection, the Debtor will make post-petition monthly payments to the Secured Creditor in an amount equal to the non-default and Contract amount paid prepetition, pursuant to the Debtor's pre-petition loan documents with the Secured Creditor, unless the Debtor and such Secured Creditor agree to a different or lesser amount. A copy of the motion is available at https://urlcurt.com/u?l=TBeFCN from PacerMonitor.com. About Valley Pork, LLC Valley Pork, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Iowa Case No. 23-01125-11) on August 30, 2023. In the petition signed by Casey Westphalen, managing director of Business Solution, the Debtor disclosed up to $50 million in both assets and liabilities. Robert C. Gainer, Esq., at Cutler Law Firm, represents the Debtor as legal counsel. VARDAN LLC: Case Summary & 11 Unsecured Creditors ------------------------------------------------- Debtor: Vardan, LLC f/d/b/a Wyndham Garden Hotel f/d/b/a Radisson Huntsville Airport 8721 Madison Blvd Madison, AL 35758 Business Description: The Debtor owns a motel/hotel located at 8721 Madison Blvd (Hwy 20 W), Madison Alamaba valued at $5.16 million. Chapter 11 Petition Date: September 5, 2023 Court: United States Bankruptcy Court Northern District of Alabama Case No.: 23-81630 Judge: Hon. Clifton R. Jessup Jr. Debtor's Counsel: Kevin D. Heard, Esq. HEARD, ARY & DAURO, LLC 303 Williams Avenue Park Plaza, Suite 921 Huntsville, AL 35801 Tel: 256-535-0817 Fax: 256-535-0818 Email: kheard@heardlaw.com Total Assets: $5,199,091 Total Liabilities: $6,844,752 The petition was signed by Subbarao Yallapragada as member. A copy of the Debtor's list of 11 unsecured creditors is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/ZCAICTI/Vardan_LLC__alnbke-23-81630__0002.0.pdf?mcid=tGE4TAMA A full-text copy of the petition is available for free at PacerMonitor.com at: https://www.pacermonitor.com/view/ZEH6LYY/Vardan_LLC__alnbke-23-81630__0001.0.pdf?mcid=tGE4TAMA VECTOR UTILITIES: Court OKs Cash Collateral Access on Final Basis ----------------------------------------------------------------- The U.S. Bankruptcy Court for the Southern District of Texas, Laredo Division, authorized Vector Utilities, LLC to use cash collateral on a final basis in accordance with the budget, with a 10% variance. Newtek Small Business Finance, LLC asserts an interest in the cash collateral of the Debtor. Replacement liens are granted to Newtek as adequate protection on all assets to the extent of diminution of collateral. Further, the Debtor will pay Newtek Small Business Finance, LLC $4,000 on September 1, 2023, and thereafter on the 1st day of each month until further notice, court ruling and/or agreement between Newtek Small Business Finance, LLC and the Debtor. The Debtor has been defaulted and terminated or voluntarily defaulted on all the Bonded Projects. The Surety is working with construction consultant J.S. Held and the Texas Department of Transportation to generate a request for proposal for the purpose of soliciting bids from prospective completion contractors and facilitating completion of the Bonded Projects. Prior to termination or voluntary default, the Debtor earned but has not been paid $99,569 in Bonded Contract Proceeds. The $99,569 in earned but unpaid receivables constitutes the Surety's cash collateral. For adequate protection of the Surety's cash collateral, it is ordered that the $99,569 be deposited into an FDIC insured escrow account over which the Surety will have exclusive control. The escrow account will be used solely to distribute the $99,569 for payment by the Surety of the Debtor's obligations arising out of the Bonded Projects which, if not paid, may become obligations of the Surety under the Bonds. The Surety will instruct TxDOT to send release payment of the $99,569 to the escrow account. After the $99,569 is distributed for payment of Bonded Project obligations, the Surety will provide the Court a report and account records documenting receipts and disbursements from the escrow account. A copy of the order is available at https://urlcurt.com/u?l=VtUgpw from PacerMonitor.com. About Vector Utilities, LLC Vector Utilities, LLC sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 23-60040) on July 16, 2023. In the petition signed by Griselda C. Gaytan, managing member, the Debtor disclosed up to $10 million in both assets and liabilities. Judge David R. Jones oversees the case. Margaret M. McClure, Esq., at Law Office of Margaret M. McClure, represents the Debtor as legal counsel. VIRGIN ORBIT: Seeks to Extend Plan Exclusivity to November 30 ------------------------------------------------------------- Virgin Orbit Holdings, Inc., and its affiliates asks the U.S. Bankruptcy Court for the District of Delaware to extend the exclusive periods for the filing of a chapter 11 plan and solicitation of acceptances thereof to November 30, 2023 and January 30, 2024. Unless extended, the exclusive filing period and exclusive solicitation period expire on August 2, 2023 and October 2, 2023, respectively. The Debtors assert that cause exists for the requested extension based on the extensive progress made to date. The Debtors claim that they have focused their efforts on establishing bidding procedures, conducting a competitive marketing process for the sale of certain their assets, holding an auction, and closing those sales of their assets successfully. The Debtors stated that, following the closing of the sales, they worked with their creditor constituencies to negotiate and memorialize terms of the plan. The Debtors further stated that they thereafter solicited the requisite acceptance of the plan, obtained entry of the confirmation order, and the parties anticipate the plan going effective in the short term. The Debtors also claimed that they have: (a) prepared and filed their Schedules of Assets and Liabilities; (b) prepared and filed their Statements of Financial Affairs; (c) prepared and filed an Amendment to the Schedules of Assets and Liabilities and Amended Schedules Bar Date; (d) prepared and filed their monthly operating reports; (e) obtained Court approval of debtor in possession financing necessary to fund the Chapter 11 Cases; (f) responded to various information requests from the U.S. Trustee and the Committee; (g) responded to other general inquiries from interested parties; (h) retained professionals, (i) established a general bar date and provided notice to all parties; and (j) handled the various other tasks related to the administration of the Debtors' bankruptcy estates and Chapter 11 cases. Virgin Orbit Holdings, Inc., and its affiliates are represenet by: Robert S. Brady, Esq. Michael R. Nestor, Esq. Kara Hammond Coyle, Esq. Allison S. Mielke, Esq. YOUNG CONAWAY STARGATT & TAYLOR, LLP Rodney Square, 1000 North King Street Wilmington, DE 19801 Tel: (302) 571-6600 Email: rbrady@ycst.com mnestor@ycst.com kcoyle@ycst.com amielke@ycst.com - and - Jeffrey E. Bjork, Esq. LATHAM & WATKINS LLP 355 South Grand Avenue, Suite 100 Los Angeles, CA 90071 Tel: (213) 485-1234 Email: jeff.bjork@lw.com - and - George Klidonas, Esq. Anupama Yerramalli, Esq. Liza L. Burton, Esq. LATHAM & WATKINS LLP 1271 Avenue of the Americas New York, NY 10020 Tel: (212) 906-1200 Emails: george.klidonas@lw.com anu.yerramalli@lw.com liza.burton@lw.com About Virgin Orbit Virgin Orbit Holdings, Inc (Nasdaq: VORB) -- 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, the Debtor reported total assets amounting to $242,978,000 and total debt amounting to $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. WEWORK INC: Draws Under Existing Delayed Draw Notes Commitments --------------------------------------------------------------- WeWork Companies LLC (the "Issuer"), a wholly-owned subsidiary of WeWork Inc., WW Co-Obligor Inc., a wholly-owned subsidiary of the Issuer, drew under their existing delayed draw notes commitments entered into in March and May 2023, as applicable, and, in connection therewith, entered into a supplemental indenture to the Base Indenture with the guarantors party thereto and U.S. Bank Trust Company, National Association, as trustee, pursuant to which the Issuers issued $189.6 million in aggregate principal amount of 15.000% First Lien Senior Secured PIK Notes due 2027, Series II, and $122.9 million in aggregate principal amount of 15.000% First Lien Senior Secured PIK Notes due 2027, Series III. The New Series II Notes were sold to SoftBank Vision Fund II-2 L.P., a limited partnership established in Jersey, pursuant to that certain Master First Lien Senior Secured PIK Notes Note Purchase Agreement, dated as of May 5, 2023 (as amended, supplemented, waived or otherwise modified from time to time), by and among the Issuers and SVF II. The New Series III Notes were sold to a third party investor pursuant to that certain Securities Purchase and Commitment Agreement, dated as of March 17, 2023 (as amended, supplemented, waived or otherwise modified from time to time), by and among the Issuers, the Company and the Third Party Investor. The New Notes were issued pursuant to that certain First Lien Senior Secured PIK Notes Indenture, dated as of May 5, 2023, by and among the Issuers, the guarantors party thereto, the Trustee and U.S. Bank Trust Company, National Association, as collateral agent. The New Series II Notes were issued as Series II First Lien Notes (as defined in the Indenture) and are subject to the terms set forth in the Indenture. The New Series III Notes were issued as Series III First Lien Notes (as defined in the Indenture) and are subject to the terms set forth in the Indenture. The terms of the New Notes are substantially similar to those of the Issuers' 15.000% First Lien Senior Secured PIK Notes due 2027, Series I, previously issued. Following such issuances, $306.25 million in aggregate principal amount of Series II Notes and $181.25 million in aggregate principal amount of Series III Notes are outstanding. The New Notes and related guarantees have not been registered under the Securities Act of 1933, as amended, and were issued and sold in reliance on the exemption provided in Section 4(a)(2) of the Securities Act. About WeWork New York, NY-based WeWork Inc. (NYSE: WE) -- wework.com -- is a global flexible workspace provider, serving a membership base of businesses large and small through its network of 779 Systemwide Locations, including 622 Consolidated Locations as of December 2022. WeWork reported a net loss of $2.29 billion for the year ended Dec.31, 2022, a net loss of $4.63 billion for the year ended Dec. 31, 2021, a net loss of $3.83 billion in 2020, and a net loss of $3.77 billion in 2019. As of June 30, 2023, the Company had $15.06 billion in total assets, $18.65 billion in total liabilities, ($33) million in redeemable noncontrolling interests, and a total deficit of $3.56 billion. WINDSOR TERRACE: Court OKs $6.5MM DIP Loan from RT Lending ---------------------------------------------------------- The U.S. Bankruptcy Court for the Central District of California, San Fernando Valley Division, authorized Windsor Terrace Healthcare, LLC and affiliates to use cash collateral and obtain post-petition financing, on an interim basis, through September 28, 2023. The Debtor is permitted to obtain post-petition financing in the aggregate principal amount not to exceed $6.5 million from RT Lending, LLC. On June 30, 2023, contemporaneously with the current owners' acquisition of the Debtors and their affiliated businesses, two separate "Amended and Restated Credit and Security Agreement" and related agreements were entered into between MidCap and all of the Debtors and certain of their non-debtor affiliates, by which the MidCap loan agreements that had existed with the prior owners were primarily adopted, except as amended and restated. The MidCap Loan Agreements serve as the primary means by which all of the Debtors obtain funding to operate their respective facilities. As of the Petition Date, the total indebtedness owed under MidCap Loan Agreements was approximately $16.5 million. Additionally, pursuant to the MidCap Loan Agreements and prior liens which were existing under the original loan agreements with the prior owners, MidCap asserts liens upon all of the Debtors' personal property assets, and has recorded UCC financing statements against all of the Debtors. As adequate protection for the Debtors' use of cash collateral, the Secured Creditors are granted Adequate Protection Liens. The Secured Creditors include Popular Bank, a New York State chartered commercial bank, which is a creditor to the Debtor, Windsor Terrace Healthcare, LLC and a non-debtor party, Windsor Healthcare Sepulveda, LLC, the landlord of the affected facility. The Landlord is not a debtor in the proceedings. After the Motion was filed, Popular Bank, through its counsel, presented certain loan documents to the Debtors' counsel and asserts a secured claim in excess of $15 million against the Landlord and the Debtor. Popular Bank has filed a UCC-1 against this Debtor which predates the UCC-1 financing statements filed by Midcap, and reserves all rights. Popular Bank also has a deed of trust against the Landlord's real property. Nothing in this Interim Order validates or determines the lien priorities of any of the Secured Creditors. The Secured Creditors are further adequately protected by the ongoing operations of the Debtors' facilities and businesses, guarantees provided by non-debtor affiliates, joint and several liabilities of the non-debtor affiliates as co-borrowers, and/or a substantial equity cushion afforded by the value of the Debtors' assets which purportedly secures the claims of the Secured Creditors. MidCap is owed approximately $16.5 million, and may be secured by, among other things, the AR and Cash assets of all of the Debtors which total approximately $29.5 million, which equates to an equity cushion of almost 80%. The events that constitute an "Event of Default" include: (a) Failure of the Debtors to obtain (i) entry of an Interim Court Order in form and substance acceptable to the Agent and the Debtors, in each case in their respective sole discretion, within 10 days of the Petition Date, or (ii) a further Interim Order in form and substance acceptable to the Agent and the Debtors, in each case in their respective sole discretion, on or before the Termination Date; (b) If (i) any of the Chapter 11 Cases is converted to a case under chapter 7 of the Bankruptcy Code, (ii) any of the Chapter 11 Cases is dismissed, or (iii) any Debtor will file any pleading requesting any such relief; and (c) The entry of an order appointing a trustee or an examiner with expanded powers for any of the Debtors' estates or with respect to any of the Debtors' property. A final hearing on the matter is set for September 28, 2023 at 1:30 p.m. A copy of the motion is available at https://urlcurt.com/u?l=IWxRJW from PacerMonitor.com. About Windsor Terrace Healthcare, LLC Windsor Terrace Healthcare, LLC are primarily engaged in the businesses of owning and operating skilled nursing facilities throughout the State of California. Collectively, the Debtors own and operate 16 skilled nursing facilities, which provide 24 hour, 7 days a week and 365 days a year care to patients who reside at those facilities. In addition to the 16 skilled nursing facilities, the Debtors own and operate one assisted living facility (which is Windsor Court Assisted Living, LLC), one home health care center (which is S&F Home Health Opco I, LLC), and one hospice care center (which is S&F Hospice Opco I, LLC). The Debtors do not own any of the real property upon which the facilities are located. The Debtors sought protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr. C.D. Cal. Lead Case No. 23-11200) on August 23, 2023. In the petition signed by Avrohom Tress, manager, the Debtor disclosed up to $10 million in both assets and liabilities. Judge Victoria S. Kaufman oversees the case. Ron Bender, Esq., Monica Y. Kim, Esq., and Juliet Y. Oh, Esq., at Levene, Neale, Bender, Yoo, and Golubchik LLP, represent the Debtor as legal counsel. Stretto, Inc. is the Debtor's claims, noticing and solicitation agent. WYCKOFF EQUITIES: Sam Della Fera Named Subchapter V Trustee ----------------------------------------------------------- The U.S. Trustee for Regions 3 and 9 appointed Sam Della Fera, Jr., Esq., at Chiesa, Shahinian & Giantomasi, PC, as Subchapter V trustee for Wyckoff Equities, LLC. Mr. Della Fera, Jr., will be paid an hourly fee of $450 for his services as Subchapter V trustee and will be reimbursed for work-related expenses incurred. Mr. Della Fera, Jr., declared that he is a disinterested person according to Section 101(14) of the Bankruptcy Code. The Subchapter V trustee can be reached at: Sam Della Fera, Jr., Esq. Chiesa, Shahinian & Giantomasi, PC One Boland Drive West Orange, NJ 07052 973-530-2076 Email: sdellafera@csglaw.com About Wyckoff Equities Wyckoff Equities, LLC is a company in Ho Ho Kus, N.J., which operates in the restaurant industry. The Debtor filed Chapter 11 petition (Bankr. D. N.J. Case No. 23-16874) on Aug. 9, 2023, with up to $500,000 in assets and up to $10 million in liabilities. Albert Franco, managing member, signed the petition. Daniel M. Eliades, Esq., at K&L Gates, LLP, represents the Debtor as legal counsel. [*] Andrew Cross Joins Blank Rome's Restructuring, Bankruptcy Group ------------------------------------------------------------------- Blank Rome LLP on Sept. 5, 2023, disclosed that Andrew P. Cross has joined the firm's Pittsburgh office as of counsel in the Finance, Restructuring, and Bankruptcy group. Mr. Cross focuses his practice on derivatives transactions and investment management regulatory matters. He joins from Perkins Coie LLP. Nationally, Blank Rome has experienced significant and strategic growth since the start of the year, including opening a Dallas office with a team of leading corporate, real estate, and finance partners, adding a team of nine leading litigators in New York, welcoming a group of nine international trade attorneys and legal professionals in Washington, D.C., and bolstering its Chicago office with a real estate finance trio. "We are pleased to welcome Andrew to our firm's leading finance practice and our growing Pittsburgh office," said Grant S. Palmer, Blank Rome's Chair and Managing Partner. "Andrew's derivatives transactional experience and extensive background in the investment management space will further strengthen our national finance team and will be of great value to our clients." Concentrating his practice on complex financial transactions and regulatory matters, Mr. Cross advises a diverse client base that includes financial institutions, commodity trading firms, family offices, public companies and other corporate end-users, registered investment advisers, registered investment companies, and private funds. He routinely negotiates complex derivatives transactions and related trade agreements, so that clients can achieve their investment and risk management objectives. On the regulatory front, Mr. Cross's practice covers issues arising under federal statues that govern the use of derivatives for investment or hedging purposes. He routinely advises clients regarding the application of the Commodity Exchange Act, the Securities Act, the Securities Exchange Act, the Investment Company Act, and the Investment Advisors Act. Additionally, Mr. Cross has more than 20 years of experience as an investment management attorney, regularly advising mutual funds and their boards and investment advisers with respect to regulatory matters, including client commission arrangements and related fiduciary oversight matters, as well as fintech regulatory issues. "We are thrilled to have Andrew join our finance team as his derivatives transactional experience and ability to provide regulatory analyses will greatly benefit our financial services clients in Pittsburgh and across the country," said Lawrence F. Flick II, Partner and Chair of Blank Rome's Financial Services industry group. "Combined with Blank Rome's innovative work with commodity and energy finance transactions, Andrew's experience will help us expand our asset-management focused derivatives regulatory and transactions practices." "Blank Rome has an incredible reputation in the finance industry, and I am excited to work with such talented and experienced attorneys," added Mr. Cross. "There are already synergies with several partners who practice in the derivatives transactional space, including David Kronenberg and Brendan Delany, making Blank Rome a great fit for me to serve my clients, further develop my practice, and contribute to the growth of the firm's derivatives and investment management service offerings." Mr. Cross earned his J.D./M.B.A. from the University of Pittsburgh, his M.A. from the University of Balamand, and his B.A., summa cum laude, from Washington & Jefferson College. He has been recommended by The Legal 500 and recognized in DerivAlert's "Who's Who in OTC Derivatives Reform." About Blank Rome Blank Rome -- http://www.blankrome.com/-- is an Am Law 100 firm with 15 offices and more than 680 attorneys and principals who provide comprehensive legal and advocacy services to clients operating in the United States and around the world. [*] Commercial Chapter 11 Filings Increase 54% in August 2023 ------------------------------------------------------------- There were 634 commercial Chapter 11 filings registered in August 2023, an increase of 54 percent from the 411 filings registered in August 2022, according to data provided by Epiq Bankruptcy, the leading provider of U.S. bankruptcy filing data. Overall commercial filings increased 14 percent to 2,328 in August 2023, up from the 2,045 commercial filings registered in August 2022. Small business filings, captured as subchapter V elections within chapter 11, increased 43 percent to 194 in August 2023, up from 136 in August 2022. Total bankruptcy filings were 41,614 in August 2023, an 18 percent increase from the August 2022 total of 35,409. Individual bankruptcy filings totaled 39,286 in August 2023, also registering an 18 percent increase from the August 2022 33,364 filing total. There were 22,887 individual chapter 7 filings in August, a 21 percent increase versus the 18,851 filings in August 2022, and there were 16,341 individual chapter 13 filings in August, a 13 percent increase over the 14,457 filings the previous year. August marks 13 consecutive months that total, individual and commercial bankruptcy filings have registered monthly year-over-year increases. "The continued year-over-year increases indicate the anticipated growth of bankruptcy filings is becoming a reality," said Gregg Morin, Vice President of Business Development and Revenue at Epiq Bankruptcy. "This emphasizes the critical role bankruptcy analytics plays in creating effective strategies and informed decisions when navigating an evolving market." August filing totals also registered increases across all filing categories when compared to July 2023. Commercial chapter 11 filings registered the largest gain from the previous month, as the August total increased 76 percent from the July chapter 11 filing total of 361. The commercial filing total represented a 17 percent increase from the July 2023 commercial filing total of 1,990. Subchapter V elections within chapter 11 increased 29 percent from the 150 filed in July 2023. August’s total bankruptcy filings represented a 17 percent increase when compared to the 35,718 total filings recorded in July. Total individual filings for August also represented a 16 percent increase from the July 2023 filing total of 33,728. Likewise, individual chapter 7s increased 18 percent and chapter 13s increased 15 percent from July. "Elevated interest rates, rising prices due to inflation and resumption of student loan payments are just a few examples of the economic headwinds facing businesses and individuals," said ABI Executive Director Amy Quackenboss. "Struggling families and companies looking to find their financial footing are increasingly turning to the established path of bankruptcy." ABI has partnered with Epiq Bankruptcy to provide the most current bankruptcy filing data for analysts, researchers, and members of the news media. Epiq Bankruptcy is the leading provider of data, technology, and services for companies operating in the business of bankruptcy. Its Bankruptcy Analytics subscription service provides on-demand access to the industry’s most dynamic bankruptcy data, updated daily. Learn more at https://bankruptcy.epiqglobal.com/analytics. About Epiq Epiq, a global technology-enabled services leader to the legal industry and corporations, takes on large-scale, increasingly complex tasks for corporate counsel, law firms, and business professionals with efficiency, clarity, and confidence. Clients rely on Epiq to streamline the administration of business operations, class action, and mass tort, court reporting, eDiscovery, regulatory, compliance, restructuring, and bankruptcy matters. Epiq subject-matter experts and technologies create efficiency through expertise and deliver confidence to high-performing clients around the world. Learn more at www.epiqglobal.com. About ABI ABI is the largest multi-disciplinary, nonpartisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues. The ABI membership includes nearly 10,000 attorneys, accountants, bankers, judges, professors, lenders, turnaround specialists and other bankruptcy professionals, providing a forum for the exchange of ideas and information. For additional information on ABI, visit www.abi.org. For additional conference information, visit http://www.abi.org/calendar-of-events. ********* Monday's edition of the TCR delivers a list of indicative prices for bond issues that reportedly trade well below par. Prices are obtained by TCR editors from a variety of outside sources during the prior week we think are reliable. Those sources may not, however, be complete or accurate. The Monday Bond Pricing table is compiled on the Friday prior to publication. Prices reported are not intended to reflect actual trades. Prices for actual trades are probably different. Our objective is to share information, not make markets in publicly traded securities. 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