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

              Monday, September 11, 2023, Vol. 27, No. 253

                            Headlines

100 ORCHARD: Court OKs Interim Access to Brick Moon Cash Collateral
1011778 BC: Moody's Rates New 1st Lien Loans 'Ba2', Outlook Stable
12-16 S. PATTERSON: A&G Accepts Offers for Patterson Park Property
2518 CLEBURNE: Property Sale Proceeds to Fund Plan
301 MIDDLE: Seeks to Hire J. Scott Logan as Bankruptcy Counsel

36TH STREET: Sept. 27 Bid Deadline Set for NY High-Rise Hotel
555 ARGENTINOS: Claims Will be Paid from Property Refinance
ADAMIS PHARMACEUTICALS: Changes Name to DMK Pharmaceuticals
ADVANCION HOLDINGS: S&P Alters Outlook to Neg., Affirms 'B-' ICR
ALECTO HEALTHCARE: Taps Gould as Forensic Investigation Consultant

ALPINE 4: Unit Gets $5.1M Contracts for Battery Production Facility
AMERICAN BUILDERS: S&P Alters Outlook to Pos., Affirms 'BB' ICR
APPROVED ONE: Tamara Miles Ogier Named Subchapter V Trustee
AVENTIS SYSTEMS: Unsecureds Owed in Excess of $500 to Recover 8%
AVINGER INC: Stockholders Approve Reverse Stock Split Proposal

AVISON YOUNG: $375MM Bank Debt Trades at 58% Discount
B & M REALTY: John Rhyne Named Subchapter V Trustee
B&B BUILDERS: Unsecured Creditors Out of Money in Sale Plan
BASIC WATER: To Seek Plan Confirmation on Oct. 10
BENEFYTT TECHNOLOGIES: Taps Deloitte as Tax Services Provider

BOXER PARENT: Moody's Upgrades CFR to 'B2', Outlook Stable
BRAVO MULTINATIONAL: Signs LOI With Diversified Consultants
BRAZOS PERMIAN: S&P Affirms 'B+' ICR, Outlook Stable
BRICKCHURCH ENTERPRISES: Unsecureds Will Get 100% of Claims in Plan
BRIDLE PATH: Voluntary Chapter 11 Case Summary

BRIGHTVIEW LANDSCAPES: Moody's Hikes CFR to B1, Outlook Stable
BUCHTA LEASING: Case Summary & 20 Largest Unsecured Creditors
BUCKHEAD PROPERTY: Claims Will be Paid from Property Sale/Refinance
CAA HOLDINGS: S&P Affirms 'B+' ICR on Majority Stake Sale
CAIRO HOLDING: Robert Byrd Named Subchapter V Trustee

CAMBER ENERGY: Appoints John McVicar as Chief Financial Officer
CANO HEALTH: Jacqueline Guichelaar Resigns as Director
CARTER TABERNACLE: Wins Cash Collateral Access Thru Sept 27
CASH CLOUD: Bankruptcy Court Confirms Amended Plan
CENPORTS COMMERCE: Seeks Cash Collateral Access

CHAPIN DAIRY: Committee Taps Cohen & Cohen as Legal Counsel
CHURCHILL ORTHOPEDIC: Ongoing Operations to Fund Plan
CL LEE: Seeks to Hire Diane Lopes Tax & Accounting Services
CLEAR BLUE: Files Emergency Bid to Use Cash Collateral
CONSTANT CONTACT: $300MM Bank Debt Trades at 17% Discount

CORNERSTONE CHEMICAL: S&P Downgrades ICR to 'D' on Missed Payment
CRYPTO CO: Signs Code Licensing Agreement with TelBill
D'RIA GROUP: Seeks to Hire JMLIU as Accountant
DECISION POINTE: Business Profits to Fund Plan
DENT TECH: Time to Confirm Plan Extended to Jan. 3

DESOLATION HOLDINGS: Seeks Approval of Disclosure Statement
DESOLATION HOLDINGS: Unsecureds to Get 100% Under Plan
DIGITAL MEDIA: Board Appoints Neil Nguyen as Director
DIGITAL MEDIA: Moody's Cuts CFR to 'Caa3', Outlook Negative
DINARDO LAW: Case Summary & Eight Unsecured Creditors

DODGE CONSTRUCTION: $455MM Bank Debt Trades at 18% Discount
EAGLE TRUCKLINES: Brad Odell Named Subchapter V Trustee
EAST WEST MANUFACTURING: $275MM Bank Debt Trades at 17% Discount
ECN CAPITAL: DBRS Confirms BB(high) LongTerm Issuer Rating
ELESSAR PROPERTIES: Gina Klump Named Subchapter V Trustee

EMERALD ELECTRICAL: Files Amended Liquidating Plan
ENERGYSOLUTIONS INC: S&P Affirms 'B' ICR, Outlook Stable
EXTREME CLEAN: Unsecured Creditors to Get $61K in 35 Months
EYECARE PARTNERS: $750MM Bank Debt Trades at 21% Discount
FEDNAT HOLDING: Debtor Will Liquidate to Pay Claims

FOOT LOCKER: Moody's Cuts CFR to 'Ba2', Outlook Negative
FORT WAYNE COLD: Taps Steyer & Company as Accountant
FORTREA HOLDINGS: Fitch Alters Outlook on 'BB' LongTerm IDR to Neg.
FULL SPECTRUM: Unsecureds to Split $45K in Subchapter V Plan
GATOR COURIERS: Unsecureds Will Get 10% of Claims over 3 Years

GIP PILOT: Moody's Assigns First Time Ba3 Corporate Family Rating
GLOBAL TEE: Unsecureds to Get 100 Cents on Dollar
GOPHER RESOURCE: $510MM Bank Debt Trades at 22% Discount
GREENFIRE RESOURCES: Moody's Assigns 'B3' CFR, Outlook Stable
HART INC: Amends Commercial Credit Secured Claims Pay Details

HELIUS MEDICAL: Regains Compliance With Nasdaq Listing Criteria
HOG FATHERS: Seeks Cash Collateral Access
HORSIN AROUND: Seeks to Hire J. Scott Logan as Legal Counsel
HOUSEWORX INVESTMENTS: Case Summary & Eight Unsecured Creditors
HTG MOLECULAR: Trustee Hires Ordinary Course Professional

INDIE SALON: Mark Sharf Named Subchapter V Trustee
INNOVATIVE DESIGNS: Delays Form 10-Q for Period Ended July 31
INNOVATIVE GENOMICS: Maria Yip Named Subchapter V Trustee
INTEGRATED CARE: Seeks Access to TD Bank's Cash Collateral
INTOUCH FOOTWEAR: Seeks Cash Collateral Access

IRIDIUM COMMUNICATIONS: Fitch Gives BB LongTerm IDR, Outlook Stable
IRIDIUM SATELLITE: Moody's Rates New Secured First Lien Loans 'Ba3'
JBP HOLDINGS: Seeks to Hire Whitestone PC as Legal Counsel
JO-ANN STORES: $675MM Bank Debt Trades at 64% Discount
JOHNSON SCOTT: Taps William Johnson as Bankruptcy Attorney

JUMBA LLC: Cunningham Says Objections Has Not Been Resolved
KDJJ ENTERPRISES: Case Summary & Five Unsecured Creditors
KEANE GROUP: Moody's Withdraws 'B2' CFR Following Debt Repayment
KEITH STRANGE: Unsecureds Will Get 100% of Claims in 60 Months
KING DRIVE: Case Summary & One Unsecured Creditor

KINGDOM CONCEPTS: Files Emergency Bid to Use Cash Collateral
KNIGHT HEALTH: $450MM Bank Debt Trades at 66% Discount
LEARFIELD COMMUNICATIONS: $864MM Bank Debt Trades at 30% Discount
LEE & MAIN STREET: Case Summary & Three Unsecured Creditors
LINDEN AUTO: Scott Rever Named Subchapter V Trustee

LONGRUN PBC: Court OKs Cash Collateral Access Thru Nov 2
LUCAS MACYSZYN: Case Summary & 19 Unsecured Creditors
LUCENA DAIRY: Case Summary & 16 Unsecured Creditors
LUMEN TECHNOLOGIES: $5BB Bank Debt Trades at 35% Discount
LUNA DAIRY: Case Summary & 16 Unsecured Creditors

LV OPPORTUNITY: Amends JPMorgan & Renaissance Secured Claims Pay
M/I HOMES INC: S&P Raises ICR to 'BB' on Expected Profitable Growth
MAGENTA BUYER: $750MM Bank Debt Trades at 55% Discount
MATRIX PARENT: $160MM Bank Debt Trades at 59% Discount
MAVENIR SYSTEMS: $145MM Bank Debt Trades at 23% Discount

MAVERICK GAMING: Moody's Cuts CFR to 'Caa2' & Alters Outlook to Neg
MEJJM INC: May Use $154,000 of Cash Collateral
MILE HI TRANSPORTATION: Voluntary Chapter 11 Case Summary
MONTANA TUNNELS: Amends Unsecureds & Several Secured Claims Pay
MORNINGSTAR SENIOR: Fitch Affirms 'BB' LongTerm IDR, Outlook Stable

MUELLERS AUTO: Case Summary & 20 Largest Unsecured Creditors
MUSIC GETAWAYS: Unsecureds Will Get 5 Cents on Dollar in Plan
NATIONAL CINEMEDIA: CIT Provides $55M Revolving Credit Facility
NEEDS LLC: Seeks to Hire Blackwood Law as Bankruptcy Counsel
NEEDS LLC: Seeks to Hire Hammond Law as Bankruptcy Counsel

NELKIN & NELKIN: Melissa Haselden Named Subchapter V Trustee
NEONATOLOGIST ASSOCIATES: Unsecureds to Split $1K over 12 Months
NEW TROJAN: $110MM Bank Debt Trades at 54% Discount
NUZEE INC: Tracy Ging Resigns as Director
NXT ENERGY: Signs Contract to Provide SFD Survey in Turkiye

OFF LEASE: Files Voluntary Chapter 11 Bankruptcy Petition
OLAPLEX INC: $675MM Bank Debt Trades at 16% Discount
OMNIQ CORP: Receives Purchase Order From Israel Train Company
PALACE AT WASHINGTON: Taps Reno Fernandez as General Counsel
PAO BAY INVESTMENT: Seeks to Hire Scott Alan Orth as Attorney

PEACHSTATE PEDALING: Unsecureds Will Get 9.36% of Claims in Plan
PECF USS INTERMEDIATE: $2BB Bank Debt Trades at 20% Discount
PERFORMANCE RESULTS: Wins Interim Cash Collateral Access
PERMIAN RESOURCES: Moody's Rates New $500MM Unsecured Notes 'B2'
PETES AUTO: Bid to Use Cash Collateral Denied

PGX HOLDINGS: Seeks Approval of Disclosure Statement
PJ TRANS: Court OKs Cash Collateral Access Thru Oct 3
POLYMER INSTRUMENTATION: Banned From Using Cash Collateral
PREMIER MEDICAL: Court OKs Cash Collateral Access Thru Sept 24
QUARTERNORTH ENERGY: S&P Upgrades ICR to 'B-', Outlook Stable

R L BURNS: Unsecureds to Split $18K in Consensual Plan
RASBERRY CREEK: Brian Rothschild Named Subchapter V Trustee
RAY'S AUTO: Ongoing Operations to Fund Plan
REPLICEL LIFE: Applies for Management Cease Trade Order
S&S SENIOR: Hearing on Plan & Disclosures Rescheduled to Sept. 28

SAFE ELECTRIC: Unsecureds to Get Share of Income for 3 Years
SANDVINE CORP: Moody's Affirms B3 CFR & Alters Outlook to Negative
SATURNO DESIGN: Says T Bank Objections Fall Flat
SECURED COMMUNICATIONS: Taps Anchin Block as Accountant
SHERMAN/GRAYSON: Gets OK to Sell Assets to AHS Sherman

SILVER TRIDENT: Unsecureds Will Get 8.39% of Claims over 5 Years
SNOWSHOE MILLWORKS: Unsecureds Will Get 100% in Sale Plan
SPIN HOLDCO: $2BB Bank Debt Trades at 15% Discount
ST. JOSEPH ENERGY: Moody's Rates New Secured Loans Due 2028 'Ba3'
ST. JOSEPH ENERGY: S&P Affirms 'BB-' Debt Rating, Outlook Stable

STAR INTERMEDIATE: Fitch Gives B+(EXP) LongTerm IDR, Outlook Stable
STAR PARENT: Moody's Assigns 'B1' CFR, Outlook Stable
SUMMIT MATERIALS: S&P Places 'BB' ICR on CreditWatch Positive
TAMKO BUILDING: Moody's Rates New Senior Secured Term Loan 'B2'
TAMPA BAY PLUMBERS: Wins Interim Cash Collateral Access

THREE AMINOS: Taps TechCXO as Consulting Services Provider
TOLIAO IOROI: Gets OK to Hire Tang & Associates as Counsel
TORTOISEECOFIN BORROWER: Moody's Cuts CFR to 'Caa2', Outlook Neg.
TRITON WATER: S&P Alters Outlook to Stable, Affirms 'B' ICR
UP RIGHT TRANSPORTATION: Ryan Richmond Named Subchapter V Trustee

US RENAL CARE: $1.25BB Bank Debt Trades at 49% Discount
US RENAL: Moody's Upgrades CFR to Caa1 & Alters Outlook to Stable
VALCOUR PACKAGING: $160MM Bank Debt Trades at 43% Discount
VALCOUR PACKAGING: $420MM Bank Debt Trades at 20% Discount
VECTRA CO: $425MM Bank Debt Trades at 1% Discount

VERITAS HOLDINGS: S&P Affirms 'B-' ICR, Outlook Negative
VINTAGE FOOD: Unsecureds Owed $445K to Get 10% Under Plan
WATAUGA FAMILY: Behrooz Vida Named Subchapter V Trustee
WATERBRIDGE MIDSTREAM: Fitch Affirms B LongTerm IDR, Outlook Stable
WAVERLY MANSION: Hires Long & Foster Real Estate as Broker

WELCOME GROUP: Files Emergency Bid to Use Cash Collateral
WESTERN GLOBAL: Hires Weil Gotshal & Manges LLP as Counsel
WESTLAKE SURGICAL: Case Summary & 20 Largest Unsecured Creditors
WESTLAKE SURGICAL: Hospital Files for Chapter 11 Bankruptcy
WINESTEAD LLC: Unsecureds Will Get 100% of Claims in Plan

WORKSITE LABS: $2.9MM DIP Loan from AB Lending OK'd
WRIGHT EXCAVATING: Court OKs Interim Cash Collateral Access
WRIGHT EXCAVATING: M. Aaron Spencer Named Subchapter V Trustee
YUNHONG CTI: Changes Name to 'Yunhong Green CTI Ltd.'
[*] Judge Curley to Receive American Inns of Court Bankruptcy Award

[*] Two Industry Veterans Join Tiger's Valuation Services Division
[^] BOND PRICING: For the Week from September 4 to 8, 2023

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100 ORCHARD: Court OKs Interim Access to Brick Moon Cash Collateral
-------------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
authorized 100 Orchard Street LLC d/b/a Blue Moon Hotel to use the
cash collateral of Brick Moon Capital LLC and the U.S. Small
Business Administration, nunc pro tunc and effective as of the
Petition Date, on an interim basis in accordance with the budget,
with a 10% variance in excess of any line item in the budget other
than compensation to the Debtor's principal and his wife.

The Court said all other terms and conditions set forth in the
Seventh Interim Order regarding the Debtor's continued use of cash
collateral, along with the prior interim cash collateral orders,
will apply with the same force and effect to the Eighth Interim
Order and the Debtor's continued use of cash collateral.

As previously reported by the Troubled Company Reporter, Brick has
a duly perfected senior lien and security interest in all of the
Debtor's pre-petition assets, including the Debtor's real property,
the Hotel and all room revenues collected by the Hotel.

To perfect its interests in the collateral, Brick filed a UCC-1
financing statement with the New York Secretary of State.

As of the Petition Date, Brick asserts the total amount the Debtor
owes is at least $10 million.

The SBA has a duly perfected junior lien and security interest in
the Debtor's personal property. To perfect its interests in the
Collateral, the SBA filed a UCC-1 financing statement with the New
York Secretary of State.

As of the Petition Date, the SBA asserts the total amount the
Debtor owes is approximately $500,000.

As adequate protection to protect the Lenders from the diminution
in value of the cash collateral, the Lenders were granted (a)
replacement liens and security interests in all of the Debtor's
assets acquired post-petition including cash to the extent that
said liens were valid, perfected and enforceable as of the Petition
Date, subject to (i) claims of Chapter 11 professionals duly
retained and to the extent awarded pursuant to sections 330 and 331
of the Bankruptcy Code, (ii) United States Trustee fees pursuant to
28 U.S.C. section 1930, and interest pursuant to 31 U.S.C. Section
3717, and (iii) the payment of any allowed claim of any
subsequently appointed chapter 7 trustee to the extent of $10,000;
and will not extend to estate causes of action and the proceeds of
any recoveries of estate causes of action under Chapter 5 of the
Bankruptcy Code.

The Replacement Liens and security interests granted in
post-petition room revenues and cash are automatically deemed
perfected upon entry of the Order without the necessity of the
Lenders taking possession, filing financing statements or other
documents, or taking any other action to validate or perfect the
liens and security interests granted by the Order.

A copy of the Court's order and the Debtor's September 2023 budget
is available at https://urlcurt.com/u?l=6c0N7T from
PacerMonitor.com.

The Debtor projects $265,900 in gross revenue and $114,602 in total
expenses for September 2023.

                   About 100 Orchard St. LLC

100 Orchard St. LLC operates a 22-room boutique hotel known as the
"Blue Moon Hotel," located in the lower east side of Manhattan, at
100 Orchard Street. The Hotel is a historical building built in
1879. Beginning in 2002, 100 Orchard redesigned the five-story
tenement and restored the building to function as a stately
eight-story hotel. It was a five-year art preservation and design
project that received an award by National Geographic, acknowledged
by the Historic Districts Council, and written up in 50 major
articles. The Hotel was instrumental in revitalizing commerce south
of Delancey Street.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D.N.Y. Case No. 22-10358) on March 23,
2022.
In the petition signed by Randy Settenbrino, president and managing
member, the Debtor disclosed $25,341,713 in assets and  $11,166,747
in liabilities.

Judge David S. Jones oversees the case.

Scott S. Markowitz, Esq., at Tarter Krinsky and Drogin, LLP is the
Debtor's counsel.


1011778 BC: Moody's Rates New 1st Lien Loans 'Ba2', Outlook Stable
------------------------------------------------------------------
Moody's Investors Service assigned Ba2 ratings to 1011778 B.C.
Unltd Liability Co.'s proposed senior secured first lien bank
credit facilities, consisting of a senior secured first lien
revolving credit facility due 2028, senior secured first lien term
loan A due 2028, and senior secured first lien term loan B5 due
2030. All other ratings of 1011778 B.C. remain unchanged, including
the company's Ba3 corporate family rating, Ba3-PD probability of
default rating, Ba2 ratings on its existing senior secured first
lien revolving credit facility due 2026, Ba2 ratings on its senior
secured term loan A due 2026 and term loan B4 due 2026, Ba2 ratings
on its senior secured first lien global notes, and B2 ratings on
its senior secured second lien global notes. 1011778 B.C.'s SGL-1
speculative grade liquidity rating (SGL) and The TDL Group Corp.
(Tim Hortons) B1 senior unsecured Canadian bonds rating also remain
unchanged. The outlook is stable.

1011778 B.C. is in the process of amending and extending its senior
secured 1st lien bank credit facilities. The proposed amendment
extends maturites of its senior secured first lien revolving credit
facility (RCF) and senior secured first lien term loan A to 2028
while upsizing its RCF to $1.25 billion from $1.0 billion. The
company will also extend maturities with its term loan B5 due 2030,
modestly increasing the pricing spread to market levels, and
reducing the outstanding amount by about $1.0 billion using
expected proceeds from other senior secured first lien debt. While
the transaction will result in a modest increase in interest
expense and decline in pro forma interest coverage, it is debt and
leverage neutral, and extends the company's debt maturity profile.
Following completion of the transaction, its nearest dated maturity
will be its $500 million senior secured first lien global notes due
April 15, 2025.

Assignments:

Issuer: 1011778 B.C. Unltd Liability Co.

Senior Secured 1st Lien Term Loan A due 2028, Assigned Ba2

Senior Secured 1st Lien Term Loan B5 due 2030, Assigned Ba2

Senior Secured 1st Lien Revolving Credit Facility due 2028,
Assigned Ba2

RATINGS RATIONALE

1011778 B.C. Unltd Liability Co.'s Ba3 CFR benefits from its brand
recognition, significant scale in terms of global systemwide units
and portfolio of restaurant concepts, including Burger King,
Popeyes, Tim Hortons and Firehouse Subs. The company's franchised
focused business model provides more stability to earnings and cash
flow, than peers who operate restaurants. In addition, 1011778
B.C.'s diversified day part and food offerings and very good
liquidity also support the rating. 1011778 B.C. is constrained by
its high leverage and modest retained cash flow to debt, although
with improvement expected through earnings growth and debt
reduction, as well as the need to continue to execute its Reclaim
the Flame plan to improve the overall health of its Burger King
system.

The stable outlook reflects Moody's expectation that 1011778 B.C.
will maintain steady improvement in operating performance by
profitably growing the breadth, depth and reach of its global
restaurant base. The outlook also anticipates that the company
follows a balanced financial policy toward dividends and debt
reduction, with a focus on improving leverage such that it falls
below Moody's downward rating factor while maintaining very good
liquidity.

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

Ratings could be upgraded should there be a sustained strengthening
of credit metrics through both earnings growth and material debt
reduction, with Moody's-adjusted debt/EBITDA maintained around 5.0
times and EBIT/interest maintained above 3.0 times. A higher rating
would also require the company's commitment to preserving credit
metrics during periods of operating difficulties and to maintaining
very good liquidity.

Ratings could be downgraded should there be a deterioration in
performance or should credit metrics fail to improve including debt
to EBITDA remaining above 5.75 times or EBIT to interest under 2.5
times on a sustained basis.

1011778 B.C. Unltd Liability Co., owns, operates and franchises
about 18,935 Burger King hamburger quick service restaurants
globally, 5,662 Tim Hortons restaurants primarily in Canada and the
US, 4,269 Popeyes restaurants primarily in the US and 1,259
Firehouse Subs restaurants primarily in the US. Revenue was nearly
$5.7 billion for the twelve month period ended June 30, 2023
(excluding advertising revenue), although systemwide sales are over
$40 billion. 3G Restaurant Brands Holdings LP, owns approximately
27% of the combined voting power with respect to Restaurant Brands
International Inc. (RBI) and is affiliated with private investment
firm 3G Capital Partners, Ltd.

The principal methodology used in these ratings was Restaurants
published in August 2021.


12-16 S. PATTERSON: A&G Accepts Offers for Patterson Park Property
------------------------------------------------------------------
A&G Real Estate Partners is now accepting offers for a 0.27-acre
parcel of land in Southeast Baltimore's vibrant Patterson Park
neighborhood, known for its 19th-century rowhouses and the public
park of the same name.

Part of a designated historic district, the property at 12-16 S.
Patterson Park Avenue is permit-ready for nine residential homes.
It sits right across the street from 155-acre Patterson Park, built
in 1867 and beloved for its greenspace, lake, ice-skating rink,
swimming pool, Victorian pagoda and summer concerts, festivals and
events, said Mike Matlat, a Senior Managing Director in A&G's real
estate sales division.

"This bankruptcy sale represents an incredible opportunity for
developers to capitalize on the surging residential demand in
fast-growing Patterson Park," Mr. Matlat said. "It's a
ready-to-build site, with existing buildings primed for demolition
and permits already secured."

Sitting just across the street from the public park's Northwest
corner, the parcel is close to The Observatory at Patterson Park
and convenient to nearby venues such as Ministry of Brewing,
Charmed Kitchen, La Barrita, Johnny Rad's Pizzeria Tavern, and
BMORE LICKS ice cream shop, to name just a few.

"Patterson Park is surrounded, not only by top-rated eateries,
taverns, nightlife and cultural hotspots, but also by service
tenants, public and private schools, banks, grocery stores and
other conveniences of daily living," Mr. Matlat noted. "It's part
of the reason for the upward trajectory of the real estate market
in this area."

In addition, the property is potentially suitable for Baltimore's
High-Performance Newly Constructed Dwellings Property Tax Credit,
which is designed to promote the construction of new housing stock
through a 5-year incentive for property owners. It's a powerful
enticement that could potentially add value to the residential
homes on offer, Mr. Matlat noted.

The Patterson Park neighborhood is known for the strength of its
community connections, the executive added. "As noted by the
501(c)3 nonprofit Baltimore Live, it's a place where residents
greet each other on the streets and hangout and socialize at
events," Mr. Matlat said. "This truly is a rare development
opportunity in one of the most exciting neighborhoods in Southeast
Baltimore."

For further information on the property, visit
www.agrep.com/pattersonpark or contact Mike Matlat, (631) 465-9508,
mike@agrep.com


2518 CLEBURNE: Property Sale Proceeds to Fund Plan
--------------------------------------------------
2518 Cleburne Housing LLC filed with the U.S. Bankruptcy Court for
the Southern District of Texas a Subchapter V Plan of
Reorganization dated September 5, 2023.

The Debtor is a holding company that owns and manages two
investment properties (individually a "Property" and collectively,
the "Properties") located at 2516 and 2518 Cleburne Street,
Houston, Texas, 77004.

Cleburne is a member managed Texas limited liability company
incorporated on December 28, 2018 and is managed by its principal
Robert Wiseman.

Class 1 shall consist of Allowed Claims secured by the Debtor's
real property located at 2516 Cleburne Street, Houston, Texas,
77004 and 2518 Cleburne Street, Houston, Texas, 77004. Class 1
shall consist of secured claims3 held by Civic Real Estate Holdings
III, LLC ("CREH"). On or before the expiration of 30 days following
the Effective Date, CREH shall receive payment of its Allowed
Secured Claim.

Class 2 shall consist of Allowed Ad Valorem Claims secured by the
Debtor's real property located at 2516 Cleburne Street, Houston,
Texas, 77004 and 2518 Cleburne Street, Houston, Texas, 77004. Class
2 shall consist of secured ad valorem claims held by Harris County
et al ("Harris County"). On or before the expiration of 30 days
following the Effective Date, Harris County shall receive payment
of its Allowed Secured Claim. Harris County shall retain all liens
it currently holds, whether for pre-petition tax years or for the
current tax year, on any property of the Debtor until it receives
payment in full of all taxes, and interest owed to it under the
provisions of this Plan, and its lien position shall not be
diminished.

Class 3 shall consist of Allowed General Unsecured Claims. On or
before the expiration of 30 days following the Effective Date, in
full satisfaction, to the extent there are proceeds remaining after
payment to Classes 1 and 2 from the sale of the Properties, holders
of claims in Class 3 shall receive monthly Pro Rata Cash payments
of their Allowed Claims. Class 3 is impaired and entitled to vote
on the Plan.

In the event of any failure of the Reorganized Debtor to timely
make its required plan payments to Holders of General Unsecured
Claims, which shall constitute an event of default under the plan
as to these Claimants, the Claimants shall send a Notice of Default
to the Reorganized Debtor. If Default is not cured within 30 days
of the date of such notice, Holders of General Unsecured Claims may
proceed to collect all amounts owed pursuant to state law without
further recourse to the Bankruptcy Court. The Claimants are only
required to send 2 Notices of Default, and upon the third event of
default, the Claimants may proceed to collect all amounts owed
under state law without further notice.

The equity interest holder of this Plan shall retain his respective
equity interests.

The payments contemplated in this Plan shall be funded from the
sale of the 2516 and 2518 Cleburne Street, Houston, Texas, 77004
(the "Properties"). The Debtor anticipates closing on the sale on
or before 30 days following the Effective Date.

A full-text copy of the Subchapter V Plan dated September 5, 2023
is available at https://urlcurt.com/u?l=YaNFv0 from
PacerMonitor.com at no charge.

Attorneys for Debtor:

     Brendon Singh, Esq.
     Susan Tran Adams, Esq.
     Tran Singh, LLP
     2502 La Branch Street
     Houston TX 77004
     Telephone: (832) 975-7300
     Facsimile: (832) 975-7301
     Email: bsingh@ts-llp.com

                     About 2518 Cleburne

2518 Cleburne Housing, LLC, a Houston-based company, filed a
petition under Chapter 11, Subchapter V of the Bankruptcy Code
(Bankr. S.D. Texas Case No. 23-32106) on June 5, 2023, with $1
million to $10 million in both assets and liabilities. Robert L.
Wiseman, managing member, signed the petition.

Judge Eduardo V. Rodriguez oversees the case.

Brendon Singh, Esq., at Tran Singh, LLP, is the Debtor's legal
counsel.


301 MIDDLE: Seeks to Hire J. Scott Logan as Bankruptcy Counsel
--------------------------------------------------------------
301 Middle LLC seeks approval from the U.S. Bankruptcy Court for
the District of Maine to hire the Law Offices of J. Scott Logan,
LLC to serve as legal counsel in its Chapter 11 case.

The Law Office of J. Scott Logan will be paid at the rate of $250
per hour.  

The firm received a retainer in the amount of $6,550, of which
$1,738 was used to pay the filing fee.

J. Scott Logan, Esq., disclosed in a court filing that he and his
firm do not have any interest adverse to the Debtor's bankruptcy
estate.

The firm can be reached through:

      J. Scott Logan, Esq.
      LAW OFFICE OF J. SCOTT LOGAN, LLC
      75 Pearl Street
      Portland, ME 04101
      Tel: (207) 699-1314
      Email: scott@southernmainebankruptcy.com

                About 301 Middle LLC

301 Middle LLC sought protection for relief under Chapter 11 of the
Bankruptcy Code (Bankr. D. Maine Case No. 23-20138) on June 23,
2023, listing $100,001 to $500,000 in assets and up to $50,000 in
liabilities.

Judge Michael A Fagone oversees the case.

J Scott Logan, Esq. at the Law Office Of J. Scott Logan, LLC
represents the Debtor as counsel.


36TH STREET: Sept. 27 Bid Deadline Set for NY High-Rise Hotel
-------------------------------------------------------------
Hilco Real Estate, LLC, announced Sept. 27, 2023, as the qualified
bid deadline for the Chapter 11 bankruptcy sale of this 15-story
high-rise hotel in New York, New York.  Situated at 442 W 36th
Street, this hotel presents a rare chance for investors to acquire
a prime asset in one of the most sought-after locations in the
city.

This sale offers investors an opportunity to acquire an unflagged,
non-union core asset. Built in 1999, the 56-room hotel has a newly
renovated lobby and a diverse spread of rooms, perfect for business
and leisure travelers. With attractive assumable financing
available at just 5.2%, the remaining 72-month term represents a
cash-equivalent savings of $2.2 million.

Nestled in the heart of Manhattan, the property has incredible
proximity to major demand generators, including Hudson Yards,
Madison Square Garden, Times Square, the Javits Center, the Empire
State Building and more. Additionally, guests of the hotel have
access to major transit in the form of Penn Station, the Lincoln
Tunnel, multiple Metro stations and the NYC Ferry. The hotel's
prime location presents immense potential for repositioning and
capitalizing on the vibrant hospitality market in Manhattan.

This sale is being conducted by Order of the U.S. Bankruptcy Court
District of Eastern New York, Bankruptcy Petition No. 22-bk-40563
(JMM), In re: 36th Street Property, Inc. and is subject to court
approval. Qualified bids must be received on or before the deadline
of September 27, 2023 at 5:00 p.m. (ET) and submitted on the
approved Purchase and Sale Agreement in compliance with the terms
of sale available for review and download from Hilco Real Estate's
website.

Jeff Azuse, executive vice president at Hilco Real Estate, states,
"Considering that Hudson Yards sits within one of the highest real
estate valued zip codes in the country, the bankruptcy sale of the
Hudson River Hotel is a rare opportunity for a savvy investor to
reimagine this property and capitalize on its prime location. In
addition to Hudson Yards, there are several new projects on the
same block as the property that adds to the long-term viability of
the property."

Interested buyers should review the requirements in order to
participate in the bankruptcy sale process available on Hilco Real
Estate's website. For further information, please contact Jamie
Coté at (847) 418-2187 or jcote@hilcoglobal.com or Jonathan
Cuticelli at (203) 561-8737 or jcuticelli@hilcoglobal.com.

For further information on the property, sale process, and terms or
to obtain access to due diligence documents, please visit
HilcoRealEstate.com or call (855) 755-2300.

                    About Hilco Real Estate

Hilco Real Estate ("HRE"), a Hilco Global company
(HilcoGlobal.com), is headquartered in Northbrook, Illinois (USA).
HRE is a national provider of strategic real estate disposition
services. Acting as an agent or principal, HRE uses its experience
to advise and execute strategies to assist clients in deriving the
maximum value from their real estate assets. By leveraging
multi-faceted sales strategies and techniques, aggressive
repositioning and restructuring experience, a vast and motivated
network of buyers and sellers, and substantial access to capital,
HRE exceeds expectations even in the most complex transactions.


555 ARGENTINOS: Claims Will be Paid from Property Refinance
-----------------------------------------------------------
555 Argentinos, LLC, filed with the U.S. Bankruptcy Court for the
Northern District of Texas a Disclosure Statement describing
Chapter 11 Plan dated September 5, 2023.

The Debtor originally acquired 2401 and 2327 Oakland, Fort Worth,
Texas (hereinafter the "Property") in April 2013. The Debtor sought
to renovate and improve the Property.

To this end the Debtor obtained a loan in 2019 from Wildcat
Lending. When the Debtor was unable to maintain payments to its
primary lender, the Property was posted for foreclosure. This
bankruptcy was filed to allow the Debtor an opportunity to
refinance the Property and get the renovations completed.

Since the filing of the bankruptcy, the Debtor has been actively
seeking new financing for the properties. The Debtor has received a
commitment to funds amounts sufficient to repay all creditors in
full. The Debtor shall close on the refinancing and shall pay all
creditors in full on or before the effective date.

The Debtor's current business operations consist of the ownership
of the properties. The Debtor does not currently have any
operations that generate income. The refinancing will be sufficient
to repay the creditors of the estate.

The Debtor will continue in business. The Debtor's Plan will break
the existing claims into 5 categories of Claimants. These claimants
will receive cash payments over a period of time beginning on the
effective date.

The current owner will receive no payments under the Plan, and the
current owner shall retain her existing ownership interest.

Debtor anticipates the refinancing of the Property to fund the
Plan.

The Debtor shall not continue in operations under this Plan other
than in connection with the refinancing of the Property.

A full-text copy of the Disclosure Statement dated September 5,
2023 is available at https://urlcurt.com/u?l=iRYTOY from
PacerMonitor.com at no charge.

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 555 Argentinos

555 Argentinos, LLC, originally acquired 2401 and 2327 Oakland,
Fort Worth, Texas in April 2013.

555 Argentinos filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. N.D. Tex. Case No.
23-41660) on June 6, 2023. At the time of filing, the Debtor
estimated $500,001 to $1 million in assets and $100,001 to $500,000
in liabilities. Eric A. Liepins, Esq. at Eric A. Liepins, P.C.
represents the Debtor as counsel.


ADAMIS PHARMACEUTICALS: Changes Name to DMK Pharmaceuticals
-----------------------------------------------------------
Adamis Pharmaceuticals Corporation announced the company changed
its name to DMK Pharmaceuticals Corporation in order to better
reflect its new strategic focus on advancing small molecules for
the treatment of substance use disorders.  In conjunction with the
name change, the Company's common stock is expected to trade under
the new Nasdaq ticker symbol "DMK" on or about Sept. 8, 2023.  The
CUSIP number for the common stock, 00547W307, will remain
unchanged.

"The new DMK Pharmaceuticals is committed to developing
groundbreaking and innovative therapies to establish itself as a
leader in the treatment of substance abuse including opioid and
alcohol use disorders," said Eboo Versi, MD, PhD, CEO of Adamis,
"Rebranding the company signifies our new strategic vision and
reinforces our commitment to a renewed corporate strategy.  Along
with our flagship approved treatment for emergency treatment of
opioid overdose, ZIMHI, our lead clinical stage compound, DPI-125
will be our core focus.  DPI-125 is a novel molecule for the
treatment of opioid use disorder.  Currently approved therapies are
old and the vast majority of sufferers are not getting this medical
treatment.  I believe this is because they have unfavorable drug
scheduling resulting in limited access, and in many cases, patients
have to undergo opioid withdrawal symptoms prior to starting
treatment.  It is my belief that DPI-125, if successfully
developed, will receive a more favorable drug scheduling and be a
more 'patient friendly' treatment.  DPI-125 is also being developed
for the treatment of moderate to severe pain.  If clinical studies
confirm what we suspect from animal studies, this drug will not be
addictive and as such could even help to reduce the incidence of
opioid use disorder."

DMK expects several potential significant milestones for DPI-125 by
the end of 2024 including: manufacture of a transdermal delivery
system; results of a respiratory depression safety study compared
to fentanyl; results of a pharmacokinetic study in humans; and
results of an abuse liability study compared to current treatments
for OUD and pain relief, in each case assuming the availability of
adequate funding and no unexpected developments or delays.  There
can be no assurances that any of these milestones will be achieved
or will be achieved within the anticipated time periods.

                         About DMK Pharmaceuticals

DMK Pharmaceuticals is a commercial stage neuro-biotech company
primarily focused on developing and commercializing products for
the treatment of opioid overdose and substance use disorders.
DMK's commercial products approved by the FDA include ZIMHI
(naloxone) Injection for the treatment of opioid overdose, and
SYMJEPI (epinephrine) Injection for use in the emergency treatment
of acute allergic reactions, including anaphylaxis.  The Company is
focused on developing novel therapies for opioid use disorder (OUD)
and other important neuro-based conditions where patients are
currently underserved.  DMK believes its technologies are at the
forefront of endorphin-inspired drug design with its mono, bi- and
tri-functional small molecules that simultaneously modulate
critical networks in the nervous system.  DMK has a library of
approximately 750 small molecule neuropeptide analogues and a
differentiated pipeline that could address unmet medical needs by
taking the novel approach to integrate with the body's own efforts
to regain balance of disrupted physiology.  The Company's lead
clinical stage product candidate, DPI-125, is being studied as a
potential novel treatment for OUD. DMK also plans to develop the
compound for the treatment of moderate to severe pain.  The
Company's other development stage product candidates include
DPI-221 for bladder control problems and DPI-289 for severe end
stage Parkinson's disease.

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.


ADVANCION HOLDINGS: S&P Alters Outlook to Neg., Affirms 'B-' ICR
----------------------------------------------------------------
S&P Global Ratings revised the outlook to negative from stable and
affirmed the 'B-' issuer credit rating on Advancion Holdings LLC
(doing business as Advancion Corp. and formerly known as Angus
Chemical Co.).

S&P said, "We also affirmed the 'B-' issue-level rating and '3'
(rounded estimate: 50%) recovery rating on the company's first-lien
secured debt. At the same time, we affirmed the 'CCC' issue-level
rating and '6' (rounded estimate: 0%) recovery rating on the
company's second-lien secured debt. Additionally, we affirmed the
'CCC' issue-level rating and '6' (rounded estimate: 0%) recovery
rating on Advancion Sciences (formerly Kobe US Midco 2 Inc.) deeply
subordinated debt (TopCo payment-in-kind toggle notes).

The negative outlook on Advancion reflects our view that debt
leverage will remain above our previous expectations, and there is
now less cushion than before at the current rating, leaving the
company vulnerable to continued demand shocks.

"The outlook revision follows declining demand and weakened
operating results through the first half of 2023 and our
expectation for elevated debt leverage in 2023. Macroeconomic
uncertainty, sluggish demand, and customer destocking continue to
affect the company. We now anticipate leverage will remain elevated
for the rating over the next year. Specifically, we project S&P
Global Ratings-adjusted debt to EBITDA of about 9.0x-10.0x over the
next 12 months. More specifically, for the last 12 month (LTM)
period ended March 2023 and June 2023, S&P Global Ratings adjusted
debt to EBITDA exceeded 10x. However, our expectations are based on
a sequential quarterly basis and we believe leverage metrics will
likely improve in the second half of 2023, based on our belief that
the second half of 2023 EBITDA will improve from the first half of
the year. Advancion was able to offset the headwinds from inflation
and elevated raw material costs via price increases and has since
seen margin expansion for the quarter ended June 2023. In addition
to lower-than-expected EBITDA, company free cash flow generation
will be hampered throughout 2023 as the result of higher borrowing
costs and elevated capital spending. However, as the company works
through higher-cost inventories and improves working capital
management, combined with lower second-half capital spending, we
would expect second-half cash flows to be stronger than the first
half of the year.

"The negative outlook on Advancion reflects our expectation that
the company will continue to be hampered from destocking and
softness in the broader chemical industry. However, we believe that
Advancion should benefit over the longer term from its niche
specialty chemical offering to favorable end markets the company
serves, with life sciences and personal care experiencing customer
destocking in 2023. Our base-case expectations are that
weighted-average debt to EBITDA will remain above 9x in 2023, funds
from operations (FFO) to debt will be in the
low-single-digit-percentage area over the next 12 months, and
Advancion will continue to be hindered by reduced volumes and
increased borrowing costs.

"We could downgrade Advancion within the next couple of quarters if
we believe its debt to EBITDA will remain above double digits for
consecutive quarters combined with sustained negative free cash
flow generation. Specifically, the company's S&P Global
Ratings-adjusted debt to EBITDA through June 2023 was above 10x,
and if it remains above this level due to its EBITDA margins
declining by at least 600 basis points (bps) relative to our 2023
base-case assumption, we could take a negative rating action. This
would likely occur if the company's end markets perform worse than
we expect because of continued economic uncertainty and prolonged
inventory destocking impacting demand or it experiences operating
issues at its plants. The company's leverage could also stretch to
these levels if its financial policies become more aggressive then
we currently assume, such as by undertaking additional large
debt-funded dividends or acquisitions.

"We could upgrade Advancion within the next 12 months if it
maintains debt to EBITDA of between 7x and 8x on a sustained basis.
We believe it could achieve this by improving its EBITDA margins by
around 1000 bps relative to our 2023 base-case expectation. This
would likely occur if Advancion is able to weather the current
macroeconomic environment better than we expect and the conditions
in its key end markets continue to improve.

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



ALECTO HEALTHCARE: Taps Gould as Forensic Investigation Consultant
------------------------------------------------------------------
Alecto Healthcare Services, LLC, seeks approval from the U.S.
Bankruptcy Court for the District of Delaware to hire Gould
Consulting Services.

The Debtor requires a forensic investigation consultant to:

     1. Examine the Debtor's financial records and related
documents and data
for four years prior to its bankruptcy filing, analyze transactions
with insiders, related or affiliated companies, and identify
potential causes of action, if any;

     2. Examine the Debtor's accounting records and bank statements
and those of related entities Sherman/Grayson Hospital, LLC, Alecto
Healthcare Services Hayward LCC, Alecto Healthcare Services Sherman
LLC, Alecto Healthcare Services Los Angeles LLC, Alecto Healthcare
Services Ohio Valley, LLC, Alecto Healthcare
Services Real Estate Holding LLC, and Alecto Healthcare Services
Fairmont LLC, in order to determine if there are any potential
claims against any of the affiliates or current or former officers
and directors;

     3. Provide all findings in a written report prior to Sept. 11,
2023;

     4. Report directly to Morris James, LLP with all reports,
communications, and work product; and

     5. Perform all services in accordance with the Standards for
Forensic Services established by the American Institute of
Certified Public Accountants.

The hourly rates charged by the firm for its services are as
follows:

     Leanne Gould   Forensic Accountant   $550
     Karen Perry    Financial Analyst     $350

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

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

The firm can be reached at:

     Leanne Gould, CPA
     Gould Consulting Services
     Tel: 770.315.9627
     Email: Leanne@GouldForensics.com

                 About Alecto Healthcare Services

Alecto Healthcare Services, LLC, is a provider of healthcare
infrastructure services based in Glendale Calif.

Alecto Healthcare Services filed Chapter 11 petition (Bankr. D.
Del. Case No. 23-10787) on June 16, 2023, with $1 million to $10
million in assets and $50 million to $100 million in liabilities.
Jami Nimeroff, Esq., at Brown McGarry Nimeroff, LLC has been
appointed as Subchapter V trustee.

Judge Kate Stickles oversees the case.

Jeffrey R. Waxman, Esq., and Brya M. Keilson, Esq., at Morris
James, LLP are the Debtor's bankruptcy attorneys.


ALPINE 4: Unit Gets $5.1M Contracts for Battery Production Facility
-------------------------------------------------------------------
Alpine 4 Holdings, Inc. announced $5.1 million in new contracts for
a project headed by Stellantis Automobile Corporation and Samsung
SDI, one of the world's largest battery manufacturers.  MSM's
participation in this $2.5 Billion project represents its initial
contribution to a state-of-the-art Lithium-ion battery plant and is
expected to grow as the project advances into additional phases.
The announcement comes as Morris Sheet Metal continues to report
rising profit margins.

Contract Information:

This initial contract is for the mechanical installation for
advanced production lines, and comprehensive HVAC safety measures
that are compliant with national and international standards.  This
project has been designed for scalability to meet future market
needs, leaving the door open for additional projects to be awarded
to MSM.

Economic Impact and Community Benefits:

The construction of the battery plant is anticipated to stimulate
economic growth in Indiana by creating new jobs.  It also
solidifies Morris Sheet Metal's reputation as a leader in
technology-driven, sustainable industrial solutions.

Tom Laubhan, president of MSM commented: "After a challenging
economic period, Morris Sheet Metal has shown remarkable
resilience, posting rising profit margins over the past year.  Our
financial upswing offers us a strong foundation to undertake major
projects such as this and the company is optimistic about
maintaining this positive trajectory."

"Over the past year, Tom and his team have helped advise Alpine 4's
other subsidiaries, Quality Circuit Assembly and Elecjet, on the
mechanical needs of their pilot and small volume solid-state
battery production facility currently under planning.  Morris's
expertise in guiding its sister companies has been invaluable.  We
are truly grateful that MSM is expanding their work into this
exciting new space and feel that this project embodies our
commitment to innovative, high-quality solutions in the industrial
space," said Kent Wilson, CEO, of Alpine 4.

Classified as stabilizer in Alpine 4 Holding's diverse business
ecosystem, Morris Sheet Metal's latest partnership underlines its
contribution to Alpine 4's overarching growth and stability plans
for 2023 and 2024.

                           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.


AMERICAN BUILDERS: S&P Alters Outlook to Pos., Affirms 'BB' ICR
---------------------------------------------------------------
S&P Global Ratings revised its outlook to positive from stable and
affirmed its 'BB' issuer credit rating on U.S.-based building
materials distributor American Builders & Contractors Supply Co.
Inc. (ABC).

The positive outlook reflects the potential for a higher rating if
the company continues to demonstrate sustainability of elevated
credit measures commensurate with a higher rating.

S&P said, "We believe ABC could sustain measures supportive of a
higher rating. We believe the company can possibly sustain S&P
Global Ratings-adjusted leverage of under 3x. We expect the repair
and remodel market will generate high-single-digit growth this
year, supporting healthy earnings growth as the company generates a
large share of earnings from the segments. The company additionally
generates earnings from construction spending. Our economists
forecast nonresidential construction to increase by
high-single-digit percent growth, somewhat offset by a decline in
residential construction in the low-double-digit percent area.

"As such, we expect ABC to generate $19 billion-$20 billion in
annual revenues and S&P Global Ratings-adjusted earnings of $2.1
billion-$2.5 billion in 2023-2024. Therefore, we expect the company
can generate sustained S&P Global Ratings-adjusted EBITDA margins
of roughly 11%-11.5%, which compares favorably against its
historical average of 9-10%. Apart from better visibility on
business conditions, we believe the company's strong profitability
is supported by its increased scale, improved business mix towards
higher margin products, and the realization of synergies from
acquisitions.

"We believe ABC's financial policy actions and commitment are key
to any potential improvement in credit quality. We expect the
company to generate $1.3 billion-$1.5 billion in operating cash
flow (OCF). However, we recognize that the company has some
exposure to volatile earnings given its close tie to crude oil
prices and deriving some of its earnings from new construction
activity. Additionally, the company generates a significant portion
of its growth through acquired businesses. Therefore, we expect the
company could maintain prudence in its financial policy decisions
such that its S&P Global Ratings-adjusted leverage remains within
the stated tolerance of under 3x through most market conditions.

"The positive outlook on ABC indicates our belief that the company
can sustain S&P Global Ratings-adjusted leverage of 2x-3x and OCF
to debt of above 25% for the next 12 months, even amid less
favorable business conditions."

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

-- The company's performance and financial policy actions indicate
its ability to maintain leverage of 2x-3x and OCF to debt of above
25% through most market conditions; or

-- The company improves its operating efficiency and competitive
advantage such that we have a more favorable view of its business
that is commensurate to higher-rated peers.

S&P could revise the outlook back to stable over the next 12 months
if:

-- Its S&P Global Ratings-adjusted earnings decline more than 30%
from S&P's base-case scenario, causing S&P Global Ratings-adjusted
leverage to approach 3x or OCF to debt to be less than 25% on a
sustained basis. Such a scenario could materialize if business
conditions, including a slowdown in construction, are steeper or
longer than expected; or

-- The company undertakes an aggressive financial policy, such as
pursuing large, debt-financed acquisitions or shareholder actions,
resulting in S&P Global Ratings-adjusted leverage approaching 3x.



APPROVED ONE: Tamara Miles Ogier Named Subchapter V Trustee
-----------------------------------------------------------
The U.S. Trustee for Region 21 appointed Tamara Miles Ogier, Esq.,
at Ogier, Rothschild & Rosenfeld, PC, as Subchapter V trustee for
Approved One, LLC.

Ms. Ogier 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. Ogier declared that she is a disinterested person according to
Section 101(14) of the Bankruptcy Code.

The Subchapter V trustee can be reached at:

     Tamara Miles Ogier, Esq.
     Ogier, Rothschild & Rosenfeld, PC
     P.O. Box 1547
     Decatur, GA 30031
     Phone: (404) 525-4000
     Email: tmo@orratl.com

                        About Approved One

Approved One, LLC filed a petition under Chapter 11, Subchapter V
of the Bankruptcy Code (Bankr. N.D. Ga. Case No. 23-58152) on Aug.
24, 2023, with $1 million to $10 million in both assets and
liabilities. Arturo Yancey, manager, signed the petition.

Judge Jeffery W. Cavender oversees the case.

Michael Familetti, Esq., at Familetti Law Firm represents the
Debtor as bankruptcy counsel.


AVENTIS SYSTEMS: Unsecureds Owed in Excess of $500 to Recover 8%
----------------------------------------------------------------
Aventis Systems, Inc., and Cortavo, Inc., filed with the U.S.
Bankruptcy Court for the Northern District of Georgia a Disclosure
Statement for Joint Plan of Reorganization dated September 5,
2023.

Aventis is a Georgia Corporation with its principal place of
business located at 189 Cobb Parkway N., Suite B7, Marietta, GA
30062. Cortavo is a Georgia Corporation with its principal place of
business located at 189 Cobb Parkway N., Suite B7, Marietta, GA
30062.

Aventis conducts two related types of business. First, through
online platforms, it is a "Value Added Re-Seller" or "VAR" and
sells hardware and software to both resellers and at retail.
Secondly, in its managed services division which is operated under
the name "Cortavo," Aventis offers custom IT solutions to build and
operate complete physical and virtual infrastructures.

Importantly, Cortavo does not, and has not conducted any business
other than to lend its name to Aventis' managed services business.
The Plan provides that Aventis' managed services business will be
transferred to Cortavo following confirmation, and Cortavo will
then operate the business.

The lower margins and sales created an untenable financial
situation where Aventis could not continue to maintain the high
level of inventory which was necessary to support its business and
continue to repay its alleged MCA debt and its other creditors. It
therefore filed Chapter 11 in order to restructure its business
operations and debt.

There are 59 Creditors which have filed approximately $8 million in
unsecured claims in Aventis' Chapter 11 case. Additionally, there
are 5 creditors who have filed $1.7 million in unsecured claims in
Cortavo's Chapter 11 case.

Debtors' Unsecured Creditors are divided into three classes: Class
1 includes all unsecured creditors whose claims are more than
$500.00. Class 2 is made up of two subclasses: Class 2A includes
those unsecured creditors whose claims are $500.00 or less. Class
2B includes those creditors in Class 1 who elect to reduce their
claims to $500.

Class 1 unsecured creditors will be settled and satisfied by
Debtors from the balance remaining after the payment in full of all
administrative and priority claims which are paid in cash ("Cashed
Out Priority Claims") of a one-time payment of $200,000.00 paid by
the Lamei Group, a group of insider investors which includes
Debtors' CEO, Mr. Lamei, in consideration for the issuance of new
capital stock in the reorganized debtors.

Additionally, Class 1 unsecured creditors will receive a pro-rata
distribution from the balance of the Unsecured Creditors Payment
Fund left after payment of Administrative and Cashed Out Priority
Claims, and payments to Class 2A and 2B creditors within 10
Business Days after the Effective Date of the Plan plus additional
distributions beginning 30 days after the first recovery on any of
the litigation.

Class 2A unsecured creditors will be paid in full, from the balance
of the Unsecured Creditors Payment Fund left after payment of
Administrative and Cashed Out Priority Claims which are payable in
cash within 10 Business Days after the Effective Date of the Plan
or within 10 days after their claims are allowed, whichever is
later.

Class 2B unsecured creditors will be paid a pro-rata distribution
from the balance of the Unsecured Creditors Payment Fund left after
payment of Administrative and Cashed Out Priority Claims within 10
Business Days after the Effective Date of the Plan plus additional
distributions beginning 30 days after the first recovery on any of
the Avoidance Actions.

Debtors estimate that Class 1 unsecured creditors will receive
approximately 8% of their claims from the Unsecured Creditors
Payment Fund. It is unknown at this time how much Class 1 unsecured
creditors will receive from sums generated by the Avoidance
Actions. Classes 2A and 2B will receive either 100 % of their full
claims (Class 2A) or 100 % of their reduced claims (Class 2B).

The Distributions contemplated by this Plan to administrative,
priority creditors and Class 1 general unsecured creditors and the
Class 2 convenience classes will be funded by (a) the purchase of
new shares in Aventis by the Lamei Group for the total sum of
$200,000, such purchase to be consummated on or before the
Effective Date; (b) payments from the "Unsecured Creditors Payment
Fund;" and (c) the net proceeds after payment of attorneys' fees
and expenses of litigation from the litigation of the Causes of
Action.

The Unsecured Creditors Payment Fund is a fund which will be
established by Debtors funded by eighty-four monthly payments of
approximately $6,000.00 (a total of $500,000.00) from Debtors
beginning 120 days after the Effective Date and which shall be used
for making distributions to Administrative, Priority and Classes 1
and 2 creditors.

The distributions contemplated by this Plan to secured creditors
will be made through the use of earnings and revenues of the
Debtors during the pendency of the Bankruptcy Cases and following
the Effective Date by the Reorganized Debtors.

A full-text copy of the Disclosure Statement dated September 5,
2023 is available at https://urlcurt.com/u?l=Xc02mi from
PacerMonitor.com at no charge.

Counsel for Debtors:

     Anna Humnicky, Esq.
     Small Herrin LLP
     100 Galleria Parkway, Suite 350
     Atlanta, GA 30339
     Telephone: (770) 783-1800
     Email: ahumnicky@smallherrin.com

                     About Aventis Systems

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.


AVINGER INC: Stockholders Approve Reverse Stock Split Proposal
--------------------------------------------------------------
Avinger, Inc. held its previously announced Special Meeting of
Stockholders on Sept. 8, 2023, during which the Company's
stockholders:

   (1) approved an amendment to the Company's Amended and Restated
Certificate of Incorporation to effect a reverse stock split of the
Company's outstanding shares of common stock at a ratio not less
than 1-for-5 and not greater than 1-for-20, with the exact ratio to
be set within that range at the discretion of its board of
directors without further approval or authorization of its
stockholders; and

   (2) approved an adjournment of the Annual Meeting, if necessary,
to continue to solicit votes in favor of the foregoing proposals.

Due to the approval of Proposal 1, there was no need to adjourn the
Special Meeting.  No other matters were considered or voted upon at
the Special Meeting.

                              About Avinger

Headquartered in Redwood City, California, Avinger, Inc. --
http://www.avinger.com-- is a commercial-stage medical device
company that designs and develops image-guided, catheter-based
system for the diagnosis and treatment of patients with Peripheral
Artery Disease (PAD).

Avinger reported a net loss applicable to common stockholders of
$27.24 million for the year ended Dec. 31, 2022, a net loss
applicable to common stockholders of $21.59 million for the year
ended Dec. 31, 2021, a net loss applicable to common stockholders
of $22.87 million for the year ended Dec. 31, 2020, a net loss
applicable to common stockholders of $23.03 million for the year
ended Dec. 31, 2019, and a net loss applicable to common
stockholders of $35.69 million for the year ended Dec. 31, 2018. As
of June 30, 2023, the Company had $16.94 million in total assets,
$23.53 million in total liabilities, and a total stockholders'
deficit of $6.59 million.

San Francisco, California-based Moss Adams LLP, the Company's
auditor since 2017, issued a "going concern" qualification in its
report dated March 15, 2023, citing that the Company's recurring
losses from operations and its need for additional capital raise
substantial doubt about its ability to continue as a going concern.


AVISON YOUNG: $375MM Bank Debt Trades at 58% Discount
-----------------------------------------------------
Participations in a syndicated loan under which Avison Young Canada
Inc is a borrower were trading in the secondary market around 41.9
cents-on-the-dollar during the week ended Friday, September 8,
2023, according to Bloomberg's Evaluated Pricing service data.

The $375 million facility is a Term loan that is scheduled to
mature on January 31, 2026.  About $360.1 million of the loan is
withdrawn and outstanding.

Avison Young (Canada) Inc. provides real estate services. The
Company offers consulting, advisory, lease administration,
investment and asset management, and mortgage services. Avison
Young (Canada) serves customers worldwide.



B & M REALTY: John Rhyne Named Subchapter V Trustee
---------------------------------------------------
The U.S. Bankruptcy Administrator for the Eastern District of North
Carolina appointed John Rhyne, Esq., a practicing attorney in
Wilson, N.C., as Subchapter V trustee for B & M Realty, LLC.

Mr. Rhyne will be paid an hourly fee of $375 for his services as
Subchapter V trustee.

The Subchapter V trustee can be reached at:

     John G. Rhyne, Esq.
     John G. Rhyne, Attorney at Law
     P.O. Box 8327
     Wilson, NC 27893
     Phone: (252) 234-9933

                        About B & M Realty

B & M Realty, LLC filed a petition for Chapter 11 protection
(Bankr. E.D.N.C. Case No. 21-01955) on Sept. 1, 2021, with up to $1
million in assets and up to $500,000 in liabilities. Judge David M.
Warren oversees the case.  

J.M. Cook, P.A. is the Debtor's legal counsel.


B&B BUILDERS: Unsecured Creditors Out of Money in Sale Plan
-----------------------------------------------------------
B&B Builders & Investors, LLC, filed with the U.S. Bankruptcy Court
for the Western District of Louisiana a Combined Plan and
Disclosure Statement dated September 5, 2023.

The Debtor is a real estate company. Its primary assets are two
commercial properties and several houses and vacant lots, located
in Lafayette and St. Landry Parishes.

On or about March 24, 2021, Midwest VII REO I, LLC, as successor to
Midsouth Bank, obtained a judgment (the "Judgment") in St. Landry
Parish against the Debtor, along with two guarantor, James W.
Bellard and Leola Pire Bellard (now deceased) in the principal
amount of $651,136.06 plus interest, late fees, and attorney's
fees. The Judgment was made executory in Lafayette Parish on
December 15, 2022.

A sheriff's sale for three of the properties was set for March 15,
2023. This Chapter 11 case was filed on March 9, 2023, in order to
stay the sheriff’s sale and attempt to reorganize the Debtor.

The Debtor will sell all of its properties, free and clear of all
liens and interests of co-owners. The Debtor has received the
following written offers for the properties: 4451 NW Evangeline
Thruway, Carencro, LA - $150,000; and 150 Bebo Drive, Opelousas, LA
- $90,000. The Debtor will be obtaining offers on its other
properties shortly. These sales will be approved by the Court by
one or more separate motions, which will allow for bids greater
than the offered amounts.

The Debtor's funds, consisting of the proceeds from these sales,
will be paid first to the secured claims of Midwest and Vautrot,
second to administrative claims, third to priority claims, and
fourth to Class 3 unsecured claims. Any funds remaining after all
claims are paid in full will be returned to the Debtor.

Class 1 consists of the Secured Claim of Midwest. Midwest has filed
a secured claim against the Debtor in the amount of $1,427,937.41.
The Debtor disputes the amount of this claim. This claim is secured
by mortgages and/or a judicial mortgage on all of the Debtor's
property. The Debtor shall pay Midwest all of the net proceeds
derived from the sale of its property until the allowed claim of
Midwest is paid in full. Class 1 is impaired.

Class 2 consists of the Secured Claim of James K. Vautrot / Buddy
Amusement Company. Vautrot has a secured claim against the Debtor
in the estimated amount of $60,000.00. The Debtor disputes the
amount of this claim. The Debtor believes this claim is a first
priority 1 lien against this property. The allowed amount of this
claim will be paid in full by the sale of this property. Class 2 is
impaired.

Class 3 consists of Unsecured Claims. All allowed unsecured claims
(the "Allowed Claims") will be paid a pro-rata portion of the
Debtor's cash after the Real Estate is sold and after the allowed
claim ofMidwest is paid in full and after the administrative claims
are paid. It is expected that there will be no funds available to
pay unsecured creditors. Class 3 is impaired and is entitled to
vote on the plan.

The Debtor's assets, including the Land, will be liquidated in a
sufficient amount to pay creditors.

A full-text copy of the Combined Plan and Disclosure Statement
dated September 5, 2023 is available at
https://urlcurt.com/u?l=2rYTEP from PacerMonitor.com at no charge.


Attorney for Debtor:

     Tom St. Germain, Esq.
     Weinstein & St. Germain
     1103 West University Ave
     Lafayette, LA 70506
     Tel: (337) 235-4001
     Fax: (337) 235-4020

                About B&B Builders & Investors

B&B Builders & Investors, LLC, a company in Opelousas, La., filed
its voluntary petition for Chapter 11 protection (Bankr. W.D. La.
Case No. 23-50155) on March 9, 2023, with $500,000 to $1 million in
assets and $1 million to $10 million in liabilities. James W.
Bellard, managing member, signed the petition.

Judge John W. Kolwe oversees the case.

Tom St. Germain, Esq., at Weinstein & St. Germain is the Debtor's
legal counsel.


BASIC WATER: To Seek Plan Confirmation on Oct. 10
-------------------------------------------------
On August 28, 2023, the United States Bankruptcy Court for the
District of Nevada conditionally approved the First Amended
Disclosure Statement with respect to the First Amended Joint Plan
of Reorganization, dated August 25, 2023, for Basic Water Company
and Basic Water Company SPE 1, LLC

The Court has fixed October 10, 2023, at 9:30 a.m., prevailing
Pacific Time, as the date and time for the hearing to consider
final approval of the Disclosure Statement and confirmation of the
Plan and related matters.

The Plan confirmation hearing will be held before the Honorable
Mike K. Nakagawa, United States Bankruptcy Judge, in the United
States Bankruptcy Court, Foley Federal Building, 300 Las Vegas
Boulevard South, Las Vegas, Nevada 89101.  

Objections, if any, to final approval of the Disclosure Statement
and/or confirmation of the Plan must be in writing, and must (a)
state the name and address of the objecting party and the nature
and amount of the claim or interest of such party, (b) state with
particularity the basis and nature of each objection or proposed
modification to the Plan and (c) be filed, together with proof of
service, with the Court (with a copy delivered to chambers) and
served so that such objections are actually received by the Court
and the parties, no later than September 27, 2023, to: (i) Schwartz
Law, PLLC, 601 East Bridger Avenue, Las Vegas, Nevada 89101, Attn:
Basic Water Company; and (ii) the Office of the United States
Trustee, 300 Las Vegas Boulevard South #4300, Las Vegas, Nevada
89101.

Basic Water Company submitted a First Amended Joint Plan of
Reorganization.  A copy of the First Amended Joint Plan of
Reorganization dated August 25, 2023, is available at
https://tinyurl.ph/Rtrrf from PacerMonitor.com.

                    About Basic Water Company

Basic Water Company, a water utility company in Nevada, and
affiliate Basic Water Company SPE 1, LLC sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Nev. Lead Case
No. 22-13252) on Sept. 10, 2022.  In their petitions, Basic Water
Company listed $10 million to $50 million in assets and $1 million
to $10 million in liabilities while SPE 1 listed as much as $50
million in both assets and liabilities. Stephanne A. Zimmerman,
president, signed the petitions.

Judge Mike K. Nakagawa oversees the cases.

The Debtors tapped Samuel A. Schwartz, Esq. at Schwartz Law, PLLC
as legal counsel, and Force 10 Partners, LLC as financial advisor.
Stretto, Inc. is the claims, noticing and solicitation agent.


BENEFYTT TECHNOLOGIES: Taps Deloitte as Tax Services Provider
-------------------------------------------------------------
Benefytt Technologies, Inc. and its affiliates seek approval from
the U.S. Bankruptcy Court for the Southern District of Texas to
hire Deloitte Tax LLP as their tax services provider.

The firm will render these services:

     a. advise the Debtors as they consult with their legal and
financial advisors on the cash tax effects of restructuring,
bankruptcy and the post-restructuring tax profile, including
transaction costs and/or plan of reorganization tax costs, and the
cash tax effects of the chapter 11 filing and emergence
transaction, including obtaining an understanding of the Debtors'
financial advisors' valuation model to consider the tax assumptions
contained;

     b. advise the Debtors regarding the restructuring and
bankruptcy emergence process from a tax perspective, including
analyzing various structuring alternatives and modification of
debt;

     c. advise the Debtors on the cancellation of debt income for
tax purposes under Internal Revenue Code Section 108, including
cancellation of debt income generated from a restructuring,
bankruptcy emergence transaction, and/or modification of the debt;

     d. advise the Debtors on post-restructuring tax attributes and
post-bankruptcy tax attributes (tax basis in assets, tax basis in
subsidiary stock and net operating loss carryovers) available under
the applicable tax regulations and the reduction of such attributes
based on the Debtors' operating projections; including a technical
analysis of the effects of Treasury Regulation Section 1.1502-28
and the interplay with IRC Sections 108 and 1017;

     e. advise the Debtors on net built-in gain or net built-in
loss position at the time of “ownership change” (as defined
under IRC Section 382), including limitations on use of tax losses
generated from post- restructuring or post-bankruptcy asset or
stock sales;

     f. if eventually applicable, advise the Debtors on the effects
of tax rules under IRC Sections 382(1)(5) and (1)(6) pertaining to
the post-bankruptcy net operating loss carryovers and limitations
on their utilization, and the Debtors' ability to qualify for IRC
Section 382(1)(5);

     g. advise the Debtors as to the treatment of post-petition
interest for federal and state income tax purposes, including the
applicability of the interest limitations under IRC Section
163(j);

     h. advise the Debtors as to the state and federal income tax
treatment of pre-petition and post-petition reorganization costs
including restructuring-related professional fees and other costs,
the categorization and analysis of such costs, and the technical
positions related thereto;

     i. advise the Debtors with their evaluation and modeling of
the tax effects of liquidating, disposing of assets, merging or
converting entities as part of the restructuring, including the
effects on federal and state tax attributes, state incentives,
apportionment and other tax planning;

     j. advise the Debtors on state income tax treatment and
planning for restructuring or bankruptcy provisions in various
jurisdictions including cancellation of indebtedness calculations,
adjustments to tax attributes and limitations on tax attribute
utilization;

     k. advise the Debtors on responding to tax notices and audits
from various taxing authorities;

     l. assist the Debtors with identifying potential tax refunds
and advise Debtors on procedures for tax refunds from tax
authorities;

     m. advise the Debtors on income tax return reporting of
restructuring and/or bankruptcy issues and related matters;

     n. as requested by the Debtors and as may be agreed to by
Deloitte Tax, assist Debtors with documenting as appropriate, the
tax analysis, development of the Debtors' opinions, recommendation,
observations, and correspondence for any proposed restructuring
alternative tax issue or other tax matter (does not include
preparation of information for tax provision or financial reporting
purposes);

     o. advise the Debtors with non-U.S. tax implications and
structuring alternatives;

     p. advise the Debtors with their efforts to calculate tax
basis in the stock of each of Debtors' subsidiaries, as needed, or
other equity interests and tax basis in assets by legal entity;
and

     q. as requested by the Debtors and as may be agreed to by
Deloitte Tax, advise the Debtors regarding other state, federal, or
international income tax questions that may arise in the course of
the engagement.

The firm will be paid at these hourly rates:

     Partner/Principal/Managing Director   $1,258
     Senior Manager                        $1,067
     Manager                               $915
     Senior                                $714
     Staff                                 $578

As disclosed in the court filings, Deloitte Tax is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code, as modified by Section 1107(b) of the Bankruptcy
Code.

The firm can be reached through:

     Elias Tzavelis
     DELOITTE TAX LLP
     30 Rockefeller Plaza
     New York, NY 10112
     Tel: (212) 436-7815
     Email: etzavelis@deloitte.com

              About Benefytt Technologies

Benefytt Technologies, Inc. is a technology-driven distributor of
insurance products covering Medicare-related insurance plans as
well as other types of health insurance and supplemental products.
It operates in 44 states including Texas, New York, California, and
Florida.

On May 23, 2023, Benefytt Technologies and 17 affiliated debtors,
including American Service Insurance Agency LLC, filed voluntary
petitions for relief under Chapter 11 of the United States
Bankruptcy Code (Bankr. S.D. Texas Lead Case No. 23-90566).

Benefytt Technologies disclosed assets of $1 billion to $10 billion
and liabilities of $500 million to $1 billion as of the bankruptcy
filing.

Judge Christopher M. Lopez oversees the cases.

The Debtors tapped Kirkland & Ellis, LLP and Kirkland & Ellis
International, LLP as bankruptcy counsels; Jackson Walker, LLP as
local and conflicts counsel; Ankura Consulting Group, LLC as
financial advisor; and Jefferies Group, LLC as investment banker.
Stretto, Inc. is the claims, noticing and solicitation agent.

The U.S. Trustee for Region 7 appointed an official committee to
represent unsecured creditors in the Debtors 'Chapter 11 cases. The
committee tapped McDermott Will & Emery, LLP and Lowenstein
Sandler, LLP as bankruptcy counsels; AlixPartners, LLP as financial
advisor; and Province, LLC as restructuring advisor.


BOXER PARENT: Moody's Upgrades CFR to 'B2', Outlook Stable
----------------------------------------------------------
Moody's Investors Service upgraded Boxer Parent Company Inc.'s
("BMC") ratings including the Corporate Family Rating to B2 from
B3.  The upgrade reflects the company's scale and stability as well
as Moody's expectation of modest growth and deleveraging over the
next several years.  Though BMC experiences moderate swings in
revenue and cash flow driven largely by timing of the renewal cycle
and of certain large contracts in particular, Moody's considers the
company's mainframe and workforce automation business to be
exceptionally "sticky".  The outlook is stable.

RATINGS RATIONALE

BMC's B2 CFR incorporates the company's high leverage as a result
of the KKR buyout and Compuware acquisition, as well as its
aggressive financial policies. At the same time, BMC benefits from
its market position as a leading independent provider of IT systems
management software solutions, large scale (over $2.4 billion in
revenue), the resiliency of the high-margin mainframe and workforce
automation software businesses, and resultant cash generating
capabilities.

BMC's mainframe business (including the mainframe portion of
workload automation business) generates close to half of the
company's operating profit and cash flow (and over three quarters
of profits and cash flow when including the entire workload
automation segment).  BMC's distributed platform products,
including the Helix IT service management lines, generate lower
profit margins than the rest of the business but has the potential
for moderate growth despite a challenging competitive environment.

BMC's revenues, profits, and cash flow can swing significantly
based on renewal cycles resulting in free cash flow to debt levels
fluctuating between 1% and 5%. Although Moody's expect modest
"through the cycle" growth, revenues and EBITDA can be volatile as
ASC 606 accentuates upfront revenue recognition during renewal
cycles. While Moody's view the product portfolio as stronger and
broader than after the previous Bain led buyout, BMC needs to
continually introduce new products and features or risk declines in
market share.

Leverage based on EBITDA pro forma for certain one-time expenses
weakened temporarily in the twelve months ended June 30, 2023 to
nearly 8x from just over 7x at fiscal year end March 31, 2023
driven primarily by the lumpiness of renewals.  Cash flow similarly
weakened as upfront cash collections also peak and trough with the
renewal cycle.  The revenue swings have moderated since the
Compuware acquisition but timing of certain very large contracts
can significantly impact revenue and cash flow in any given
quarter.

The stable outlook reflects Moody's expectation of stable
performance through renewal cycles supported by a moderately
growing mainframe business.  Moody's expects leverage will trend
under 7x over the next 12 to 18 months as the company enters into a
stronger part of the renewal cycle and overall low to mid-single
digit growth over the long term.  Free cash flow growth will likely
be tempered however by rising interest expense and taxes.  Revenue,
leverage and cash flow may be lumpy however based on renewal of
certain large contracts.

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

The ratings could be upgraded if BMC demonstrates modest long term
growth, sustains leverage below 6x, and produces free cash flow to
debt averaging greater than 7.5% through the renewal cycle. BMC's
ratings could be downgraded if performance deteriorates (other than
typical renewal cycle swings), leverage is expected to be sustained
above 8x, or free cash flow is expected to average below 2% over an
extended period.

BMC's liquidity is good based on solid levels of cash
(approximately $444 million of unrestricted cash as of June 30,
2023), $475 million in undrawn revolvers, and Moody's expectation
of around $250 million of annual free cash flow (including
receivables financing proceeds) over the next 12 months.

Access to the revolver is subject to covenant compliance if over
35% drawn. Moody's does not anticipate usage under the revolver
other than to fund acquisitions. Moody's expects that BMC will
remain in compliance with its covenants over at least the next
year. BMC has approximately $5.7 billion of debt maturing in
October 2025.

BMC's ESG credit impact score (CIS-4) is primarily driven by
governance risks. Governance risks arise from high leverage levels
and associated aggressive financial policies of private equity
owner, KKR as evidenced by the high leverage post-closing of the
LBO. Social risks stem from potential cybersecurity breaches and
access to skilled talent.

Upgrades:

Issuer: Boxer Parent Company Inc. (BMC)

Corporate Family Rating, Upgraded to B2 from B3

Probability of Default Rating, Upgraded to B2-PD from B3-PD

Senior Secured 1st Lien Bank Credit Facilities, Upgraded to B1
from B2

Senior Secured 2nd Lien Bank Credit Facility, Upgraded to Caa1
from Caa2

Senior Secured 1st Lien Regular Bond/Debenture, Upgraded to B1
from B2

Senior Secured 2nd Lien Regular Bond/Debenture, Upgraded to Caa1
from Caa2

Senior Unsecured Regular Bond/Debenture, Upgraded to Caa1 from
Caa2

Outlook Actions:

Issuer: Boxer Parent Company Inc. (BMC)

Outlook, Changed To Stable From Positive

Boxer Parent Company Inc. is the parent of BMC Software, Inc. and
related entities. The company was acquired by private equity firm
KKR in 2018. BMC is a provider of a broad range of IT management
software tools for mainframe and distributed environments. Non-GAAP
revenues were approximately $2.4 billion for the twelve months
ended June 30, 2024. The company is headquartered in Houston, TX.

The principal methodology used in these ratings was Software
published in June 2022.


BRAVO MULTINATIONAL: Signs LOI With Diversified Consultants
-----------------------------------------------------------
Diversified Consultants, Inc. entered into a non-binding letter of
intent with Bravo Multinational, Inc., whose stock is traded on the
OTC Pink Market.  

Under the terms of the LOI, BRVO will obtain an exclusive worldwide
license to develop and commercialize TVee-NOW for $250,000.  This
fee may be paid in cash or in the common stock of the Company.  In
addition, BRVO has agreed to pay a minimum royalty of 5% of annual
gross revenues received from the use of the license.  After making
two annual royalty payments to Diversified Consultants, BRVO will
have the option to purchase TVee-Now for a price equal to six times
the twelve month trailing revenue generated by the TVee-NOW
license.

The Transaction will subject to negotiation of definitive
documentation customary for a transaction of this nature.  The
Definitive Documents will require that the consummation of the
Transaction will be subject to the satisfaction of various
conditions required prior to closing as are customary for
transactions of this nature.

                       About Bravo Multinational

Based in Ontario, Canada, Bravo Multinational Incorporated --
http://www.bravomultinational.com-- is currently engaged in the
business of leasing and selling gaming equipment.  The Company,
however, ceased operations in Nicaragua in 2017 due to political
and economic instabilities.  The Company is planning to operate its
business in the US and other more stable democracies in Latin
America.

Bravo Multinational reported a net loss of $528,058 for the year
ended Dec. 31, 2022, compared to a net loss of $420,126 for the
year ended Dec. 31, 2021.  As of March 31, 2023, the Company had
$43 in total assets, $1.91 million in total liabilities, and a
total stockholders' deficit of $1.91 million.

Lakewood, CO-based BF Borgers CPA PC, the Company's auditor since
2017, issued a "going concern" qualification in its report dated
March 6, 2023, citing that the Company has suffered recurring
losses from operations and has a significant accumulated deficit.
In addition, the Company continues to experience negative cash
flows from operations.  These factors raise substantial doubt about
the Company's ability to continue as a going concern.


BRAZOS PERMIAN: S&P Affirms 'B+' ICR, Outlook Stable
----------------------------------------------------
S&P Global Ratings affirmed its 'B+' issuer credit rating on Brazos
Permian II LLC, a Texas-based midstream company, and its 'B+'
issue-level rating on its term loan B (TLB). S&P's '3' recovery
rating on the TLB is unchanged, indicating its expectation for
meaningful (50%-70%; rounded estimate: 60%) recovery in the event
of a payment default.

The stable outlook reflects S&P's expectation that the company's
S&P Global Ratings'-adjusted debt to EBITDA will approach 4.5x in
2023 before declining to 4x in 2024 as higher gas prices support an
increase in its EBITDA.

The rating affirmation follows Brazos' downward revision of its
2023 EBITDA guidance, which is the result of well completion delays
on its dedicated acreage due to historically low natural gas
prices. S&P expects Brazos will deleverage at a slower pace than we
previously anticipated, but the location of its system in the
prolific Delaware basin, its fixed fee contract profile, and a
significant share of high credit quality customers partially offset
the negative effect of volume delays on its credit profile.
Brazos adjusted its 2023 EBITDA projections amid natural gas price
fluctuations and drilling delays. Well completion delays led the
company to reduce its 2023 EBITDA guidance to $170 million from
$222 million. S&P said, "Our updated estimates for Brazos include a
$20 million adjustment for operating lease expense and stand at
$190 million for 2023 and approximately $200 million in 2024, which
is about 15% lower than our prior projections. The main driver
behind this change is the significant drop in natural gas prices,
causing exploration and production companies in the Delaware basin
to hold off on drilling and completing certain wells. With Henry
Hub natural gas prices dipping to below $2 per million Btu in 2023,
we foresee Brazos' system handling lower throughput volumes than
originally expected."

S&P said, "We view financial risk as aggressive reflecting elevated
leverage. We expect 2023 leverage will approach 4.5x. However, we
anticipate a decrease to 4x by 2024 due to recovering gas prices,
as indicated by the Henry Hub forward curve of $3-$4 per MMBtu and
expected growth in production and well completions. Considering
this, we believe Brazos' elevated leverage is temporary and does
not accurately portray its creditworthiness."

Brazos is subject to volumetric risk through its acreage dedication
contracts. Brazos contracts are fee-based with no direct commodity
price exposure, and 60% of its fee-based revenue is generated by
investment-grade customers including ConocoPhillips, Diamondback
Energy Inc., Exxon Mobil Corp., Continental Resources Inc., and
Devon Energy Corp. However, the company is exposed to volumetric
risk through its portfolio that consists of acreage dedication
contracts and lacks minimum volume commitments.

S&P said, "The stable outlook reflects our forecast leverage
approaching 4.5x in 2023, and declining to just above 4x in 2024
driven by our expectation for a recovery in natural gas prices from
their historically low levels this year. We anticipate drilling
activity and well completions on Brazos' dedicated acreage will
normalize next year despite temporary production delays in 2023.

"We could take a negative rating action on Brazos if we expect its
leverage will remain above 4.5x in 2024. This could happen if
delays in customer drill schedules persist, or natural gas and
natural gas liquids price environment continues to be unfavorable
affecting Brazos' EBITDA.

"Although unlikely in the near term, we could take a positive
rating action if Brazos significantly increased its scale of
operations and maintained its leverage below 4x on a sustained
basis."



BRICKCHURCH ENTERPRISES: Unsecureds Will Get 100% of Claims in Plan
-------------------------------------------------------------------
Aberdeen Enterprises, Inc., and Brickchurch Enterprises, Inc.,
filed with the U.S. Bankruptcy Court for the Eastern District of
New York a Joint Disclosure Statement accompanying Joint Plan dated
September 5, 2023.

Louise Blouin, an internet pioneer, philanthropist, and successful
businesswoman, acquired the Properties at 366 Gin Lane,
Southampton, NY (the "366 Property") and 376 Gin Lane, Southampton,
NY (the "376 Property") in 1998 through separate real estate
holding companies in which Ms. Blouin is ultimately the beneficial
owner.

The Joint Plan provides for the means of liquidating the assets of
the Debtors and distributing the proceeds thereof through a
coordinated auction sale (the "Sale") of their valuable and iconic
contiguous ocean front properties located at 366 and 376 Gin Lane,
Southampton, New York (collectively, the "Properties").  The
Debtors shall entertain offers for the Properties either together
under a single package with two lots, or a sale of each lot
separately in whichever manner maximizes the total sale price to
the Debtors' estates.

The Sale is being conducted in furtherance of a settlement recently
reached by the Debtors with their only major creditor, Bay Point
Capital Partners II, LP as set forth on the record made before the
Bankruptcy Court on August 23, 2023 (the "Settlement"). The
lynchpin of the Settlement is the parties' agreement regarding
consensual bid procedures culminating in an auction sale of the
Properties on November 16, 2023 (the "Auction") following a
comprehensive marketing period.

The bid procedures shall be the subject of a separate application
to be filed by the Debtors, and once approved by the Bankruptcy
Court shall be deemed incorporated by reference for purposes of the
Joint Plan (the "Approved Bid Procedures"). While all Classes of
Creditors are being treated as impaired and thus eligible to vote
to accept or reject the Joint Plan, the Debtors believe that the
Properties will be sold in an amount sufficient to pay all allowed
claims in full.

Class 3 consists of the Allowed Unsecured Claims including all
insider claims, the non-priority claims of the IRS, the residual
capital gains taxes generated from the sale of the Properties not
otherwise subject to a 1031 Like Kind Exchange, and the disputed
mechanic's lien claim asserted by Dream Yard Landscaping in the
amount of $94,000.

To the extent that proceeds are available from the sale of the
Properties, the Class 3 unsecured claims shall be paid at the
Closing on a pro rata basis (up to 100% of their allowed claims
with post-petition interest at the federal judgment rate) of the
residual proceeds from the sale after the payment of all U.S.
Trustee Fees, all Allowed Administrative Expenses, all Allowed
Priority Tax Claims, the full amount of the Allowed Secured Class 1
Claims of Bay Point (including the Disputed Claim Reserve) and the
full amount of the Allowed Class 2 Secured claims of the IRS
(including the Disputed Claim Reserve). The Class 3 Claims of
Unsecured Creditors are impaired. This Class will receive a
distribution of 100% of their allowed claims.

Class 4 consists of the Equity Interests in the Debtors. To the
extent that any surplus remains from the proceeds of sale after
payment of all U.S. Trustee Fees, all Allowed Administrative
Expenses, all Allowed Priority Tax Claims, the full amount of the
Class 1 Secured Claims of Bay Point (including the Disputed Claim
Reserve), the full amount of Class 2 secured claims of the IRS
(including the Disputed Claim Reserve), and all Allowed Class 3
claims of unsecured creditors, shall be allocated between the
Equity Interest Holders of the respective Debtors as directed by
the Equity Interest Holders.

The Joint Plan shall be funded through the sale of one or both of
the Properties through an auction process unless the Debtors and
Bay Point agree upon an acceptable private sale. The Debtors and
Bay Point shall agree in advance of the Auction on a proper
market-based reserve price.

A full-text copy of the Joint Disclosure Statement dated September
5, 2023 is available at https://urlcurt.com/u?l=pXUbiY from
PacerMonitor.com at no charge.

Counsel for Brickchurch Enterprises:

     Simmons Legal PLLC
     Camisha L. Simmons, Esq.
     1330 Avenue of the Americas, Suite 23A
     New York, New York 10019
     (212) 653-0667  
     Email: camisha@simmonslegal.solutions

Counsel for Aberdeen Enterprises:

     Goldberg Weprin Finkel Goldstein LLP
     Kevin J. Nash, Esq.
     125 Park Avenue, 12th Floor
     New York, New York 10017
     (212) 221-5700
     Email: knash@gwfglaw.com

               About Brickchurch Enterprises

Brickchurch Enterprises Inc. is the fee simple owner of a
residential single-family guest house which is part of a four-acre
residential ocean-front estate property compound. The property,
which is located at 366 Gin Lane Southampton, N.Y., has an
appraised value of $63 million.

Brickchurch sought Chapter 11 bankruptcy protection (Bankr.
E.D.N.Y. Case No. 22-70914) on May 1, 2022, listing $50 million to
$100 million in both assets and liabilities.  Louise Blouin,
Brickchurch director, signed the petition.

The case is assigned to Judge Alan S. Trust.

Craig D. Robins, Esq., at the Law Offices of Craig D. Robins, is
the Debtor's counsel.


BRIDLE PATH: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: Bridle Path Partners, LLC
        611 Long Drive Court, Suite C
        Alpine, UT 84004

Business Description: Bridle Path offers leather and hide tanning
                      and finishing services.

Chapter 11 Petition Date: September 8, 2023

Court: United States Bankruptcy Court
       District of Utah

Case No.: 23-23960

Judge: Hon. Kevin R. Anderson

Debtor's Counsel: Andres Diaz, Esq.
                  DIAZ & LARSEN
                  757 East South Temple, Suite 201
                  Salt Lake City, UT 84102
                  Tel: (801) 596-1661
                  Fax: (801) 359-6803
                  Email: courtmail@adexpresslaw.com

Estimated Assets: $10 million to $50 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Patrick B. Burns, managing member of
Lync Construction, LLC, managing member of Bridle Path Partners,
LLC.

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/2EVJ3SQ/Bridle_Path_Partners_LLC__utbke-23-23960__0001.0.pdf?mcid=tGE4TAMA


BRIGHTVIEW LANDSCAPES: Moody's Hikes CFR to B1, Outlook Stable
--------------------------------------------------------------
Moody's Investors Service upgraded BrightView Landscapes, LLC's
corporate family rating to B1 from B2 and probability of default
rating to B1-PD from B2-PD. At the same time, Moody's also upgraded
the senior secured first lien term loan and bank credit facility
ratings to B1 from B2. The Speculative Grade Liquidity rating is
unchanged at SGL-2. The rating outlook is stable.

"The upgrade of the CFR to B1 from B2 is driven by BrightView's
sizable debt reduction following a $500 million preferred equity
investment, representing a shift in BrightView's financial policy
that partially mitigates the company's corporate governance risk,"
said Justin Remsen, Moody's Assistant Vice President.

"With pro forma leverage less than 4x, BrightView can deploy free
cash flow to relatively low multiple bolt-on acquisitions. Moody's
anticipate acquisitions and cost savings initiatives will lead to
profit margin expansion and additional debt repayment," added
Remsen.

Upgrades:

Issuer: BrightView Landscapes, LLC

Corporate Family Rating, Upgraded to B1 from B2

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

Senior Secured 1st Lien Bank Credit Facility, Upgraded to B1 from
B2

Outlook Actions:

Issuer: BrightView Landscapes, LLC

Outlook, Remains Stable

RATINGS RATIONALE

BrightView's B1 CFR reflects the company's limited business
vertical and modest profit margins, the competitive nature of the
commercial landscaping, featuring low barriers to entry, exposure
to the more economically-dependent development segment and
volatility related to the snow removal segment. Support is provided
by the company's modest leverage profile and national operating
scope compared to many smaller, regional competitors.  BrightView
also benefits from revenue predictability of the maintenance
business.

BrightView has a good liquidity profile, which Moody's expects to
be maintained over the next 12 to 18 months. Liquidity is supported
by about $60 million in cash as of June 30, 2023 pro forma for the
preferred equity investment, $300 million revolving credit
facility, and $180 million in receivables financing (with borrowing
capacity up to $275 million). Moody's forecast assumes limited
reliance on the revolver, below the company's springing covenant
test of 35% drawn. Moody's projects about $75 million of free cash
flow in fiscal 2024 and 2025, assuming the company pays preferred
dividends in cash in 2025.

The stable outlook reflects Moody's expectations that BrightView
will demonstrate modest improvement in its operating performance,
apply free cash flow to acquisitions, and maintain good liquidity.
The stable outlook also presumes that debt-to-EBITDA will be
consistently below 4.0x.

ENVIRONMENTAL, SOCIAL, GOVERNANCE CONSIDERATIONS

Governance considerations are material to BrightView's rating.
While the repayment of debt with preferred equity proceeds signals
a balanced financial strategy, the company's track record suggests
future strategies could become more shareholder-friendly. Moreover,
the company does not have a long term record of conservative
financial policy.  For instance, in 2022, the company took on
additional debt to fund share repurchases and acquisitions despite
a decline in its operating performance.  

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

The ratings could be upgraded if BrightView's debt-to-EBITDA
leverage approaches 3.5x, profit margin increases, retained cash
flow to net debt approaches 20%, and the company demonstrates a
sustained commitment to conservative financial policies.

The ratings could be downgraded if BrightView's debt-to-EBITDA is
sustained above 5x, retained cash flow to net debt at 10% or below,
or liquidity deteriorates. Moody's could also downgrade the company
if there is evidence of a more aggressive financial policy.

The principal methodology used in these ratings was Business and
Consumer Services published in November 202.

BrightView Landscapes, LLC, a subsidiary of BrightView Holdings,
Inc. (NYSE:BV), is a national provider of landscape maintenance,
enhancements, development, and snow removal services. BrightView is
headquartered in Blue Bell, Pennsylvania and majority owned by
affiliates of private equity sponsors KRR & Co. and One Rock
Capital Partners, LLC.


BUCHTA LEASING: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Five affiliates that concurrently filed voluntary petitions for
relief under Chapter 11 of the Bankruptcy Code:

    Debtor                                   Case No.
    ------                                   --------
    ElenaRose Capital LLC                    23-70665
    330 Cross Point Blvd.
    Evansville, IN 47715

    Transport Acquisitions LLC               23-70666
    Buchta Leasing, LLC                      23-70667
    Elmer Buchta Trucking, LLC               23-70668
    Wbf, LLC                                 23-70669

Chapter 11 Petition Date: September 8, 2023

Court: United States Bankruptcy Court
       Southern District of Indiana

Judge: Hon. Andrea K. Mccord

Debtors' Counsel: Weston E. Overturf, Esq.
                  KROGER, GARDIS & REGAS, LLP
                  111 Monument Circle
                  Suite 900
                  Indianapolis, IN 46204
                  Tel: 317-777-7443

ElenaRose Capital's
Estimated Assets: $0

ElenaRose Capital's
Estimated Liabilities: $6,700,000

Transport Acquisitions'
Total Assets: $0

Transport Acquisitions'
Total Liabilities: $678,944

Buchta Leasing's
Total Assets: $23,352,776

Buchta Leasing's
Total Liabilities: $27,161,896

Elmer Buchta's
Total Assets: $5,556,104

Elmer Buchta's
Total Liabilities: $26,302,715

Wbf, LLC's
Total Assets: $502,311

Wbf, LLC's
Total Liabilities: $24,317,608

The petitions were signed by Louis Capolino as president/manager.

Full-text copies of the Debtors' petitions containing, among other
items, lists of the Debtors' largest unsecured creditors are
available for free at PacerMonitor.com at:

https://www.pacermonitor.com/view/J6EPFYQ/ElenaRose_Capital_LLC__insbke-23-70665__0001.0.pdf?mcid=tGE4TAMA

https://www.pacermonitor.com/view/P3ZK3LQ/Transport_Acquisitions_LLC__insbke-23-70666__0001.0.pdf?mcid=tGE4TAMA

https://www.pacermonitor.com/view/NH4PZEQ/Buchta_Leasing_LLC__insbke-23-70667__0001.0.pdf?mcid=tGE4TAMA

https://www.pacermonitor.com/view/SDSNACQ/Elmer_Buchta_Trucking_LLC__insbke-23-70668__0001.0.pdf?mcid=tGE4TAMA

https://www.pacermonitor.com/view/TOFXSGI/Wbf_LLC__insbke-23-70669__0001.0.pdf?mcid=tGE4TAMA

List of Buchta Leasing's 20 Largest Unsecured Creditors:

  Entity                             Nature of Claim  Claim Amount

1. Austin Gregory                                           $1,664
10227 E North St
Oakland City, IN
47660

2. Auto Wheel and Rim                   Trade Debt         $13,251
Service Co. Inc.
1208 E Morgan Ave.
Evansville, IN 47711

3. Axle Surgeons Inc.                   Trade Debt          $1,895
730 Warwick Ave.
Fort Wayne, IN 46825

4. Bret Schmidt                                             $1,587
6866 Twin Bridges Rd.
Tennyson, IN 47637

5. Brumleve Industries, Inc.            Trade Debt         $12,200
1317 W Main St.
Teutopolis, IL 62467

6. Champ Converters Inc.                Trade Debt          $2,600
501 Main Street
Suite 305
Evansville, IN 47708

7. Dalton Howard                                            $1,700
2261 S St Rd 257
Velpen, IN 47590

8. Elmer Buchta                         Trade Debt      $2,719,133
Trucking, LLC
420 S.E. Riverside
Evansville, IN 47713

9. Grade A Funding Inc.                 Trade Debt          $2,104
1111 North Main St.
Huntingburg, IN
47542

10. Imperial Suppliers LLC              Trade Debt          $1,509
300 North Madison St.
PO Box 11008
Green Bay, WI 54307

11. Johnny Long                                             $1,605
293 N. State Road 61
Winslow, IN 47598

12. Matt Quick                                              $1,613
4533 Skeleton Rd.
Tennyson, IN 47637

13. Midwest Canvas Corp.                Trade Debt         $28,303
712 S. Norman Ave.
Evansville, IN 47714

14. Modern Supply                       Trade Debt          $1,381
Company Inc.
818 Division St.
Evansville, IN 47711
15. O'Reilly Auto Parts                 Trade Debt          $2,622
150 West Market St.
Suite 800
Indianapolis, IN 46204

16. Paul Stone                                              $1,391
1409 Vincennes Ave.
Washington, IN
47501

17. Ryan Wolf                                               $2,062
644 S. County Rd.
700 E
Winslow, IN 47598

18. Unifirst Corporation                Trade Debt          $3,196
135 North
Pennsylvania St.
Suite 1610
Indianapolis, IN
46204

19. VoMack Truck Sales                 Trade Debt         $306,977
1255 S Commerce Dr.
Seymour, IN 47274

20. Wehr's Welding                     Trade Debt           $4,287
Service, Inc.
398 S 900 W
Velpen, IN 47590


BUCKHEAD PROPERTY: Claims Will be Paid from Property Sale/Refinance
-------------------------------------------------------------------
Buckhead Property Development, LLC, filed with the U.S. Bankruptcy
Court for the Middle District of Georgia a Plan of Reorganization
dated September 5, 2023.

The Debtor is a real estate development company that owns two
properties in the Buckhead neighborhood of Atlanta, a six-lot
undeveloped property on Wieuca Road (the "Wieuca Property") and a
lot with a foundation poured on Ivy Road (the "Ivy Property"), and
a single-family home in Milledgeville, Georgia (the "Sweetgum
Property").

The Debtor is in the business of purchasing, developing, and
selling property. The Debtor is wholly owned and operated by Lloyd
Dominick.

The Debtor became involved in very contentious pre-petition
litigation with creditor Southern Gentry Homes, LLC. The litigation
led to the Debtor being unable to obtain funds from its
construction loan, which put a halt to the development of the
Wieuca Property. The Debtor was unable to fund its secured debt,
which forced it to seek protection under Chapter 11.

Pre-petition the Debtor transferred the Ivy Property and the
Sweetgum Property to another entity with common ownership, Buckhead
Property Development North, LLC, via quit claim deeds for no
consideration. Post-petition both the Ivy Property and the Sweetgum
Property have been transferred back to the Debtor via quit claim
deeds. This Plan treats all of the claims secured by the Wieuca
Property, the Ivy Property, and the Sweetgum Property.

Class 8 shall consist of General Unsecured Claims including any
potential deficiency claims. The Debtor believes that all creditors
holding General Unsecured Claims will waive their right to payment
under the Plan. The allowed unsecured claims total $1,062,250.00.

If the Plan is confirmed under Section 1191(a) of the Bankruptcy
Code, the Debtor shall pay the GUCs in full within 270 days of the
Petition Date. If the Plan is confirmed under Section 1191(b) of
the Bankruptcy Code, Class 8 shall be treated the same as if the
Plan was confirmed under Section 1191(a) of the Bankruptcy Code.
The Claims 8 is Unimpaired and deemed to accept the Plan.

Class 9 consists of Lloyd Dominick as the only equity interest
holder of the Debtor. Mr. Dominick shall retain his interest in the
reorganized Debtor as the 100% owner of its outstanding membership
interests.

After the Confirmation Date, Debtor is authorized to sell or
refinance all its assets, specific assets including its real
property, free and clear of liens, claims and encumbrances as set
forth herein (the "Sale Procedures"). In the event the applicable
assets are subject to secured claims, Debtor is authorized to sell
or refinance such property free and clear of liens, claims and
encumbrances on the following terms:

     * If selling or refinancing the entire property, Debtor may
sell or refinance such property for any amount (a release amount)
that is at least equal to the outstanding amount of Allowed Secured
Claims securing such property, or such other amount as the holder
of the Allowed Secured Claim and the Debtor agree; and

     * If selling or refinancing a portion of the property, such as
a lot or portion of the acreage, Debtor may sell or refinance such
property for any amount (a release amount) that is at least equal
to the outstanding amount of Allowed Secured Claims securing such
property, or such other amount as the holder of the Allowed Secured
Claim and the Debtor agree.

The source of funds for the payments pursuant to the Plan is the
Debtor's refinance sale of the Wieuca Property, the Ivy Property,
and the Sweetgum Property.

A full-text copy of the Plan of Reorganization dated September 5,
2023 is available at https://urlcurt.com/u?l=na8zUx from
PacerMonitor.com at no charge.

Attorney for Debtor:
   
     William A. Rountree, Esq.
     Rountree Leitman Klein & Geer, LLC
     Century Plaza I
     2987 Clairmont Road, Suite 350
     Atlanta, GA 30329
     Telephone: (404) 584-1238
     Facsimile: (404) 704-0246
     Email: wrountree@rlkglaw.com

              About Buckhead Property Development

Buckhead Property Development, LLC, a Georgia-based company, filed
Chapter 11 petition (Bankr. M.D. Ga. Case No. 23-50755) on June 5,
2023, with $1 million to $10 million in both assets and
liabilities. Lloyd Dominick, member, signed the petition.

Judge Austin E. Carter oversees the case.

The Debtor is represented by William A. Rountree, Esq., at Rountree
Leitman Klein & Geer, LLC.


CAA HOLDINGS: S&P Affirms 'B+' ICR on Majority Stake Sale
---------------------------------------------------------
S&P Global Ratings affirmed its 'B+' issuer credit rating on CAA
Holdings LLC and its 'B+' issue-level rating on its first-lien term
loan facility.

The stable outlook reflects S&P's expectation that CAA's adjusted
net leverage will be between 4.5x and 5.0x over the next 12 months.
The outlook also reflects the company's strong revenue
diversification, in particular its sports and music segments, and
its highly variable cost structure, which could partly mitigate the
operational impact from the current Writers Guild of America (WGA)
and Screen Actors Guild (SAG) strikes.

S&P said, "Pro forma the proposed transaction, we expect CAA's
adjusted net leverage to be about 5.0x in fiscal 2023 (ending Sept.
30, 2023) and between 4.5x and 5.0x in fiscal 2024. While the bulk
of CAA's debt will be increasing by $425 million due to the
proposed transaction, we no longer view the company to be
controlled by a financial sponsor and are therefore now netting the
company's cash balance against its total debt when calculating its
S&P Global Ratings-adjusted credit metrics. Groupe Artémis, a
French holding company owned by the Pinault family, typically has a
long-term investment horizon. It oversees a diverse range of
investments, including wine estates; auction houses; and luxury
goods with notable ownership of brands like Kering SA (A/Stable),
which includes high fashion brands like Gucci and Saint Laurent. We
expect EBITDA growth over the next 12–18 months to drive adjusted
leverage down to between 4.5x and 5.0x. The company is committed to
a net leverage target of about 4.0x–4.5x, which translates to
between 4.6x and 5.2x on an S&P Global Ratings-adjusted basis. In
maintaining its target leverage ratio, we would expect CAA to use
excess free operating cash flow (FOCF) toward acquisitions and/or
shareholder distributions after meeting all debt and LLC tax
distribution requirements.

The ongoing WGA and SAG strikes continue to affect CAA's motion
picture and television segments, but its outperformance in its
sports and music segments has mitigated some of the strikes' impact
on operating performance in fiscal 2023. The prolonged WGA strike
and the concurrent SAG strike have caused major disruptions in film
and television productions. Some of CAA's talent remains unpaid
during this period, affecting its commissioning revenue. Moreover,
project development, especially writing work, and major film
releases, have been postponed, potentially slowing down future
productions and revenue recovery even after the strike ends. While
it is difficult to predict the length of the ongoing halt, S&P
expects these disruptions would more likely delay a majority of
earned revenue rather than leading to a permanent loss in earnings
or a step change in CAA's revenue growth trajectory within its film
and television segments.

The company's music and sports segment exceeded expectations in the
current fiscal year (ending Sept 30, 2023) growing about 15% and
21%, respectively, year to date ended June 30, 2023 (pro forma the
ICM acquisition offsetting the decline in television during the
same period), helping to mitigate the weaker performance from its
television segment over the same period. In addition, CAA's cost
structure primarily consists of its variable compensation expense,
which provides the company with some flexibility to mitigate some
of the strike's impact on its profitability.

S&P said, "In the event of a resolution of the WGA and SAG strikes,
we would expect the recovery of CAA's television segment would be
gradual as productions start back up and development of scripts
begins. In our forecast, we continue to incorporate the full impact
of the strike through a significant portion of the quarter ending
December 2024, and in the event of a resolution, up to two quarters
before a full normalization of revenue within the affected
segments.

"CAA's revenue continues to benefit from strong secular trends in
the talent representation industry. We expect CAA, as a leading
global talent agency, to continue to see strong demand for the
talent its agents represent in motion pictures, TV, music, and
sports. Film and TV revenue prospects will remain strong due to
demand for premium Hollywood talent. Much of this demand is
supported by studios hoping to increase the volume of available
content on their respective streaming platforms (Netflix, Disney+,
Warner Bros. Discovery, Paramount, etc.). Over the past year, the
market has reset its expectations for the growth of content
investments made by these streaming services. We believe
expectations for this demand have lessened somewhat. However,
premium Hollywood talent, such as that represented by CAA, will
remain in demand due to studios prioritizing high-profile talent
and fewer productions over a high-volume, lower-quality approach.
The music and sports representation business will also experience
good revenue prospects over the next several years driven by
secular growth in live event volumes after the pandemic, elevated
ticket prices, and sponsorship and endorsement opportunities."

Nevertheless, due to changing consumer preferences and the media
industry's dependence on customers' discretionary spending habits,
revenue may be subject to periodic volatility. In addition, the
media landscape is evolving through the proliferation and
maturation of streaming and direct-to-consumer media consumption.
We expect CAA's talent to benefit from these trends broadly.
However, there could be modest volatility in how revenue is
collected due to changes in the structure and timing of payment
collection for talent remuneration and the reduction of traditional
packaging arrangements as a source of revenue for CAA.

The stable outlook reflects S&P's expectation that CAA's adjusted
net leverage will be between 4.5x and 5.0x over the next 12 months.
The outlook also reflects the company's strong revenue
diversification, in particular its sports and music segments, and
its highly variable cost structure, which could partly mitigate the
operational impact from the current WGA and SAG strikes.

S&P could raise its rating on CAA if:

-- Its adjusted leverage declined and remained at or below 4.5x,
supported by positive industry growth trends, including increased
content creation that drives strong revenue growth; and

-- CAA committed to a financial policy that supports keeping
leverage below the threshold on a sustained basis.

S&P could lower its rating on CAA if we expected its S&P Global
Ratings-adjusted leverage to exceed 5.5x. This could be caused by:

-- A prolonged strike that leads to material cancellations of
productions and/or a significantly slower rate of recovery after a
resolution, leading to a slower pace of deleveraging than
originally forecast.

-- Competitive pressures or reputational damage that lead to major
agent and talent losses.

-- A change in financial policy that reflects an appetite of
higher leverage tolerance.



CAIRO HOLDING: Robert Byrd Named Subchapter V Trustee
-----------------------------------------------------
David Asbach, Acting U.S. Trustee for Region 5, appointed Robert
Byrd, Esq., at Byrd & Wiser, as Subchapter V trustee for Cairo
Holding Company, Inc.

Mr. Byrd will be paid an hourly fee of $275 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.  

Mr. Byrd declared that he is a disinterested person according to
Section 101(14) of the Bankruptcy Code.

The Subchapter V trustee can be reached at:

     Robert A. Byrd, Esq.
     Byrd & Wiser
     P.O. Drawer 1939
     Biloxi, MS 39533
     Phone: (228) 432-8123
     Fax: (228) 432-7029
     Email: rab@byrdwiser.com

                        About Cairo Holding

Cairo Holding Company, Inc. is engaged in activities related to
real estate.

The Debtor filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. S.D. Miss. Case No. 23-01954) on Aug. 25,
2023, with $1 million to $10 million in both assets and
liabilities. Michael Cappaert, president, and Patty Cappaert, POA
for Michael Cappaert, signed the petition.

Judge Jamie A. Wilson oversees the case.

J. Walter Newman IV, Esq., at Newman & Newman represents the Debtor
as legal counsel.


CAMBER ENERGY: Appoints John McVicar as Chief Financial Officer
---------------------------------------------------------------
John McVicar was appointed as chief financial officer of Camber
Energy, Inc. on Sept. 1, 2023, replacing Frank W. Barker, Jr., who
notified the Company of his retirement also on Sept. 1, 2023.  Mr.
Barker, through his entity, FWB Consulting, LLC, will remain a
consultant to the Company on an as-needed basis.

Mr. McVicar has been serving since June 2022 as the chief financial
officer of Viking Energy Group, Inc.  He brings 35 years of
international business experience in Management Consulting and
Finance.  He is a retired partner of EY LLP where he spent a total
of 23 years in management consulting and audit.  He has also served
as chief financial officer of TSX- and TSXV-listed companies and
held several regional finance leadership roles with large U.S. and
Canadian multinationals in Canada, the U.S., South America and
Asia. Mr. McVicar is a CPA, CA and received an MBA from Duke
University and a Bachelor of Commerce from Queen's University.  He
also holds an ICD.D from the Institute of Corporate Directors.  Mr.
McVicar will receive a monthly salary of $30,000 for his service as
Chief Financial Officer of the Company.

                           About Camber Energy

Based in Houston, Texas, Camber Energy, Inc. --
http://www.camber.energy-- is a growth-oriented diversified energy
company.  Through its majority-owned subsidiary, Camber provides
custom energy & power solutions to commercial and industrial
clients in North America and owns interests in oil and natural gas
assets in the United States.  The company's majority-owned
subsidiary also holds an exclusive license in Canada to a patented
carbon-capture system, and has a majority interest in: (i) an
entity with intellectual property rights to a fully developed,
patent pending, ready-for-market proprietary Medical & Bio-Hazard
Waste Treatment system using Ozone Technology; and (ii) entities
with the intellectual property rights to fully developed, patent
pending, ready-for-market proprietary Electric Transmission and
Distribution Open Conductor Detection Systems.

Camber Energy reported a net loss attributable to the company of
$107.74 million for the year ended Dec. 31, 2022, a net loss
attributable to the company of $169.68 million for the year ended
Dec. 31, 2021, compared to a net loss attributable to the company
of $52.01 million for the nine months ended Dec. 31, 2020.

Dallas, Texas-based Turner, Stone & Company, L.L.P., the Company's
auditor since 2021, issued a "going concern" qualification in its
report dated March 17, 2023, citing that the Company has suffered
recurring losses from operations, has a stockholder deficit and has
a net capital deficiency that raises substantial doubt about its
ability to continue as a going concern.


CANO HEALTH: Jacqueline Guichelaar Resigns as Director
------------------------------------------------------
Jacqueline Guichelaar resigned as a member of the Board of
Directors of Cano Health, Inc., effective Sept. 3, 2023.  According
to a Form 8-K filed with the Securities and Exchange Commission,
Ms. Guichelaar's decision to resign was not the result of any
disagreement with the Company on any matter relating to the
Company's operations, policies or practices.  Ms. Guichelaar had
served on the Audit Committee and the Nominating & Corporate
Governance Committee of the Board.

                         About Cano Health

Cano Health, Inc. (NYSE: CANO) -- canohealth.com -- is a primary
care-centric, technology-powered healthcare delivery and population
health management platform.

Cano Health reported a net loss of $428.39 million in 2022, a net
loss of $116.74 million in 2021, a net loss of $71.06 million in
2020, and a net loss of $19.78 million in 2019.

                          *   *   *

As reported by the TCR on Aug. 17, 2023, S&P Global Ratings lowered
its issuer credit rating on Medicare Advantage-focused primary care
service provider Cano Health Inc. to 'CCC-' from 'B-'.  S&P said,
"We based our negative outlook on our expectation for continued
weak operating performance and cash flow deficits.  Given the
company's current liquidity position, we believe there is
heightened risk of a near-term default such as a bankruptcy filing,
debt restructuring, or missed interest payment.


CARTER TABERNACLE: Wins Cash Collateral Access Thru Sept 27
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida,
Orlando Division, authorized Tabernacle Christian Methodist
Episcopal Church, Inc. to use cash collateral on a continued
interim basis in accordance with the budget, through September 27,
2023.

As previously reported by the Troubled Company Reporter, as of the
Petition Date, the Debtor has about $112,089 of cash in deposit
accounts; and no accounts receivable. The Debtor's other personal
property -- consisting of deposits, office equipment, fixtures and
vehicles -- is valued at approximately $61,004. The Debtor's real
property is valued at $3.6 million.

The Debtor owes approximately $2.384 million to American First
Federal that is secured by a UCC Financing Statement filed on April
8, 2011.

The Debtor owes approximately $500,000 to the U.S. Small Business
Administration that is secured by a UCC Financing Statement filed
on January 18, 2022 (Doc #202200168954) and a UCC Financing
Statement filed on January 19, 2022 (Doc #202200183488).

The court said the Debtor is permitted to use cash collateral to
pay: (a) amounts expressly authorized by the Court, including
payments to the United States Trustee for quarterly fees; (b) the
current and necessary expenses set forth in the budget; and (c)
additional amounts as may be expressly approved in writing by
Creditor within 48 hours of the Debtor's request.

Secured Creditor and the Inferior Interests will have a perfected
post-petition lien against cash collateral to the same extent and
with the same validity and priority as the pre-petition lien,
without the need to file or execute any documents as may otherwise
be required under applicable non-bankruptcy law.

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

A continued preliminary hearing on the matter is set for September
7 at 10 a.m.

A copy of the court's order and the Debtor's budget is available at
https://urlcurt.com/u?l=245ibg from PacerMonitor.com.

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

     $25,142 for September 2023;
     $25,142 for October 2023;
     $25,142 for November 2023;
     $25,142 for December 2023.

     About Carter Tabernacle Christian Methodist Episcopal Church

Carter Tabernacle Christian Methodist Episcopal Church, Inc. sought
protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr.
M.D. Fla. Case No. 23-02613) on June 29, 2023. In the petition
signed by Lenita C. Frith, chair of the Board of Stewards, the
Debtor disclosed $3,773,092 in assets and $2,884,315 in
liabilities.

Judge Tiffany P. Geyer oversees the case.

Jeffrey S. Ainsworth, Esq., at Bransonlaw, PLLC, represents the
Debtor as legal counsel.


CASH CLOUD: Bankruptcy Court Confirms Amended Plan
--------------------------------------------------
Judge Mike K. Nakagawa has entered an order that the Disclosure
Statement and confirming the Plan of Cash Cloud, Inc., d/b/a Coin
Cloud.

Because the Amended Plan did not make any material alteration to
the treatment of Class 3(b) General Unsecured Claims, each vote to
accept/reject the Original Plan by the Holder of a Class 3(b)
General Unsecured Claim is deemed to be a vote to accept/reject the
Amended Plan.

The Amended Plan satisfies the requirements of Section 1129(b) of
the Bankruptcy Code with respect to Impaired, non-consenting
Classes 2(c) (Enigma Secured Claim), 3(a) (AVT Secured Claim) and 4
(Old Interests). The Amended Plan does not discriminate unfairly
with respect to Holders of Claims and Interests in Classes 2(c),
3(a) and 4 because such Holders are receiving the same treatment as
Holders of similarly situated Claims and Interests against Debtor.
The Amended Plan is also fair and equitable with respect to Class
2(c) (Enigma Secured Claim) and Class 3(a) (AVT Secured Claim)
because it provides that the Holders of such Claims will receive
the Cash proceeds of their respective collateral, subject to the
Surcharge Claims; in addition, Enigma will receive the Enigma
Secured Claims Trust Units, and will retain its liens on any of its
collateral not subject to the Sale, as to which Enigma is permitted
to take possession or otherwise dispose of at its discretion; in
each case, satisfying Section 1129(b)(2)(A)(i) of the Bankruptcy
Code. The Amended Plan is fair and equitable with respect to Class
4 (Old Interests) because there are no junior classes receiving or
retaining any property under the Amended Plan, thereby satisfying
Section 1129(b)(2)(C)(ii) of the Bankruptcy Code.

On or before the Effective Date, Debtor shall transfer and/or
segregate Cash Assets in the amount of the Confirmation Funds for
further distribution. In accordance with the Sale Order, Debtor
will hold in escrow any AVT Collateral Proceeds, Enigma Collateral
Proceeds, and Genesis Collateral Proceeds that have not yet been
distributed to AVT, Enigma, and Genesis, respectively, for the sole
purpose of distribution to AVT, Enigma, Genesis, or the Secured
Claims Trust, as applicable, or payment to the Debtor's estate in
respect of the Surcharge Claims, if any.

The Amended Plan complies with Section 1129(a)(7) of the Bankruptcy
Code in that each Holder of a Claim or Equity Interest in Classes 1
through 4 has either voted to accept the Amended Plan, is deemed to
have accepted the Amended Plan, and/or will receive under the
Amended Plan property of a value, as of the Effective Date, that is
not less than the amount that such Holder would receive or retain
if the Debtor were liquidated under Chapter 7.

As evidenced by the Voting Report, Impaired Class 2(b) (Genesis
Secured Claim) and Impaired Class 3(b) (General Unsecured Claims)
have each voted to accept the Amended Plan within the meaning of
Section 1126(c) of the Bankruptcy Code. Impaired Class 3(a) (AVT
Secured Claim) did not vote to accept or reject the Amended Plan.
Class 1 (Priority Claims), Class 2(a) (DIP Claims), and Class 2(d)
(Other Secured Claims) are not Impaired and are conclusively deemed
to have accepted the Amended Plan pursuant to Section 1126(f) of
the Bankruptcy Code. Class 4 (Old Interests) is deemed to have
rejected the Amended Plan pursuant to Section 1126(g) of the
Bankruptcy Code because the Holders of such Interests neither
receive nor retain anything under the Amended Plan. As Class 2(c)
(Enigma Secured Claim), Class 3(a) (AVT Secured Claim) and Class 4
(Old Interests) are Impaired and have not accepted the Amended
Plan, the Debtor has not satisfied Section 1129(a)(8) of the
Bankruptcy Code, thereby necessitating approval under Section
1129(b) of the Bankruptcy Code for such Classes.

Because Class 2(b) (Genesis Secured Claim) and Class 3(b) (General
Unsecured Claims) are Impaired and have accepted the Amended Plan
without including acceptance by any insiders (as defined by Section
101(31) of the Bankruptcy Code), the Debtor has satisfied Section
1129(a)(10) of the Bankruptcy Code.

The Amended Plan does not discriminate unfairly with respect to any
Class of Claims or Interests within the meaning of Section
1129(b)(1) of the Bankruptcy Code, including Classes 2(c) (Enigma
Secured Claim), 3(a) (AVT Secured Claim) and 4 (Old Interests).
Moreover, the Amended Plan is fair and equitable with respect to
Class 2(c) and Class 3(a) (AVT Secured Claim) because it provides
that the Holders of such Claims will receive the Cash proceeds of
their respective collateral, subject to the Surcharge Claims; in
addition, Enigma will receive the Enigma Secured Claims Trust
Units, and will retain its liens on any of its collateral not
subject to the Sale, as to which Enigma is permitted to take
possession or otherwise dispose of at its discretion; in each case,
satisfying Section 1129(b)(2)(A)(i) of the Bankruptcy Code. The
Amended Plan is also fair and equitable with respect to Class 4
(Old Interests) because there are no junior classes receiving or
retaining any property under the Amended Plan, thereby satisfying
Section 1129(b)(2)(C)(ii) of the Bankruptcy Code.

Counsel for the Debtor:

     Brett A. Axelrod, Esq.
     Nicholas A. Koffroth, Esq.
     Zachary T. Williams, Esq.
     FOX ROTHSCHILD LLP
     1980 Festival Plaza Drive, Suite 700
     Las Vegas, Nevada 89135
     Telephone: (702) 262-6899
     Facsimile: (702) 597-5503
     E-mail: baxelrod@foxrothschild.com
             nkoffroth@foxrothschild.com
             zwilliams@foxrothschild.com

                          About Cash Cloud

Cash Cloud Inc., doing business as Coin Cloud, operates automated
teller machines for buying and selling Bitcoin, Ethereum, Dogecoin,
and more than 40 other digital currencies with cash, card and
more.

Cash Cloud sought relief under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. D. Nev. Case No. 23-10423) on Feb. 7, 2023, with $50
million to $100 million in assets and 100 million to $500 million
in liabilities. Chris McAlary, president of Cash Cloud, signed the
petition.

Judge Mike K. Nakagawa oversees the case.

The Debtor tapped Fox Rothschild, LLP as bankruptcy counsel; Baker
& Hostetler, LLP as regulatory counsel; and Province, LLC as
financial advisor. Stretto is the claims agent.

The U.S. Trustee for Region 17 appointed an official committee to
represent unsecured creditors in the Debtor's case.  The committee
tapped McDonald Carano, LLP and Seward & Kissel, LLP, as legal
counsel; and FTI Consulting, Inc., as financial advisor.


CENPORTS COMMERCE: Seeks Cash Collateral Access
-----------------------------------------------
Cenports Commerce Inc. asks the U.S. Bankruptcy Court for the
Central District of California for authority to use cash collateral
and provide adequate protection.

The Debtor requires the use of cash collateral to pay the
reasonable expenses it incurs during the ordinary course of its
business.

The Secured Creditors effected by the Debtor's proposed use of cash
collateral are:

     1. U.S. Small Business Administration: $107,747; UCC filed on
May 5, 2020
     2. Payability: $1,115; UCC filed on July 17, 2020
     3. Arc Technologies: $163,846 filed on February 18, 2022
     4. Cedar Advance: $ is unknown; UCC filed on September 30,
2020
     5. Wolters Kiuwer Lien Solutions: $ is unknown; UCC filed on
February 16, 2021
     6. Swift Financial: $ is unknown; UCC filed on September 7,
2021
     7. Toyota Industrial Commercial Finance: $20,022; UCC filed on
September 16, 2021. Collateral securing Toyota's claim is a used
Toyota Forklift; Serial No.: FBE15U-12408
     8. Wolters Kiuwer Lien Solutions: $ is unknown; UCC filed on
March 30, 2022
     9. Toyota Industrial Commercial Finance: $23,245; UCC filed on
April 12, 2022. Collateral securing Toyota's claim is a used Toyota
Forklift; Serial No.: 8FBE2OU-10728
    10. Wynwest Advance: $88,160; UCC filed on March 2, 2023
    11. Uptown Fund LLC: $262,000; UCC filed on March 15, 2023
    12. Halo T LLC: $550,510; UCC filed on March 29, 2023
    13. PIRS Capital, LLC: $158,390; UCC filed on April 6, 2023
    14. Vernon Capital: $ is unknown; UCC filed on April 18, 2023
    15. Unique Funding Solutions: $190,050; UCC filed on April
19,2023
    16. Webfund: $348,777; UCC filed on April 20, 2023.

Based on the value of its assets, the Debtor at this time is
offering to make monthly adequate protection payments to SBA in the
amount of $480, monthly payments to Payability in the amount of
$50, and monthly payments to Arc technologies in the amount of
$2,730. The Debtor believes the Secured Creditors are adequately
protected by the ongoing business operations and the income to be
generated throughout the pendency of the Debtor's bankruptcy case,
and the granting of a replacement lien to the extent of any
diminution in value of collateral as a result of the Debtor's use
of cash collateral. The replacement lien would be on all
post-petition assets in the same priority and to the same extent
and validity as the Secured Creditors asserted their pre-petition
security interests.

A hearing on the matter is set for October 20, 2023 at 11 a.m.

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

                   About Cenports Commerce Inc.

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

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

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


CHAPIN DAIRY: Committee Taps Cohen & Cohen as Legal Counsel
-----------------------------------------------------------
The official committee of unsecured creditors of Chapin Dairy, LLC
received approval from the U.S. Bankruptcy Code for the District of
Colorado to employ Cohen & Cohen, P.C. as its counsel.

The firm's services include:

     a. consulting with the Debtor and the Office of the United
States Trustee regarding administration of the case;

     b. advising the Committee with respect to its rights, powers,
and duties as they relate to the case;

     c. investigating the acts, conduct, assets, liabilities, and
financial condition of the Debtor;

     d. assisting the Committee in analyzing the Debtor's
pre-petition and postpetition relationships with its creditors,
equity interest holders, employees, and other parties in interest;

     e. assisting and negotiating on the Committee's behalf in
matters relating to the claims of the Debtor's other creditors;

     f. assisting the Committee in preparing pleadings and
applications as may be necessary to further the Committee's
interests and objectives;

     g. researching, analyzing, investigating, filing and
prosecuting litigation on behalf of the Committee;

     h. representing the Committee at hearings and other
proceedings;

     i. reviewing and analyzing applications, orders, statements of
operations, and schedules filed with the Court and advising the
Committee regarding all such materials;

     j. aiding and enhancing the Committee's participation in
formulating a plan;

     k. assisting the Committee in advising its constituents of the
Committee's decisions, including the collection and filing of
acceptances and rejections to any proposed plan;

     l. negotiating and mediating issues relating to the value and
payment of claims held by the Committee's constituency; and

     m. performing such other legal services as may be required and
are deemed to be in the interests of the Committee.

      Robertson B. Cohen        $450
      Katharine S. Sender       $325
      Paralegal                 $150
      Associate attorneys       $275 to $380

Pre-petition, the firm received $25,500 from the Debtor.

Katharine Sender, Esq., an attorney at Cohen & Cohen, 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:

     Katharine Sender, Esq.
     COHEN & COHEN, P.C
     1720 S. Bellaire, Suite 205
     Denver, CO 80222
     Telephone: (303) 933-4529
     Facsimile: (866) 230-8268
     Email: ksender@cohenlawyers.com

                  About Chapin Dairy

Chapin Dairy, LLC, a company in Weldona, Colo., sought protection
under Chapter 11 of the Bankruptcy Code (Bankr. D. Colo. Case No.
23-13262) on July 24, 2023, with $11,249,082 in assets and
$19,303,237 in liabilities. A. Foy Chapin, manager, signed the
petition.

Judge Thomas B. Mcnamara oversees the case.

Allen Vellone Wolf Helfrich & Factor P.C. represents the Debtor as
legal counsel.


CHURCHILL ORTHOPEDIC: Ongoing Operations to Fund Plan
-----------------------------------------------------
Churchill Orthopedic Rehabilitation, LLC filed with the U.S.
Bankruptcy Court for the District of New Jersey a Small Business
Plan of Reorganization dated September 5, 2023.

The Debtor operates an orthopedic rehabilitation business and
employs licensed professionals to administer physical therapy to
its clients.

The Debtor is a New Jersey limited liability company. Stephen
Churchill is the president and sole member.

The Debtor, as tenant, and Carriage IV Office Center, LLC Landlord,
as landlord, are parties to a Lease Agreement dated February 13,
2003, as amended (collectively, the "Lease"), for nonresidential
real property located in a portion of the building known as 1086
Teaneck Road, Teaneck, New Jersey (the "Premises"), where the
Debtor conducts its business.

With the Lease due to expire in less than a year, the Debtor
desires a smaller space at the Premises that would potentially
result in substantial savings in the Debtor's monthly rent
obligations. To that end, the Debtor and the Landlord have entered
into negotiations to amend the Lease to include a smaller, less
expensive space.

The Debtor is poised to moved forward with a reorganization under
subchapter V of the Bankruptcy Code that will preserve its business
and the jobs of its employees, allow the Debtor to continue
providing vital rehabilitation services to the surrounding
community, and provide the best possible return for all
stakeholders.

Class 4 consists of General Unsecured Claims. General Unsecured
Creditors will receive a lump sum pro rata dividend on their
allowed claim in any quarter where the Debtor's net profit exceeds
$[]. The term "net profit" is defined as all cash disbursements
during the quarter. The Subchapter V Trustee shall monitor Debtor's
quarterly reports to determine if and when an additional
disbursement is required.

Equity Interest holders shall retain existing equity interest.

On 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.

Payments to the holders of allowed Claims, on the terms set forth
in this Plan, shall be made from the Debtor's ongoing operations
and cash flow for a period of 5 years after the Effective Date of
the Plan.

A full-text copy of the Plan of Reorganization dated September 5,
2023 is available at https://urlcurt.com/u?l=g2Hoyc from
PacerMonitor.com at no charge.

Debtor's Counsel:

                  Kenneth L. Baum, Esq.
                  LAW OFFICES OF KENNETH L. BAUM LLC
                  201 W. Passaic Street
                  Suite 104
                  Rochelle Park, NJ 07662
                  Tel: (201) 853-3030
                  Fax: (201) 584-0297
                  Email: kbaum@kenbaumdebtsolutions.com

             About Churchill Orthopedic Rehabilitation

Churchill Orthopedic Rehabilitation, LLC, a company in Teaneck,
N.J., filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. D.N.J. Case No. 23-14874) on June 5, 2023,
with as much as $50,000 in assets and $1 million to $10 million in
liabilities.  Nancy Isaacson, Esq., at Greenbaum, Rowe, Smith &
Davis, LP has been appointed as Subchapter V trustee.

Judge Vincent F. Papalia oversees the case.

The Debtor tapped Kenneth L. Baum, Esq., at the Law Offices of
Kenneth L. Baum, LLC as counsel, and Aprio, LLP as accountant.


CL LEE: Seeks to Hire Diane Lopes Tax & Accounting Services
-----------------------------------------------------------
CS Lee DMD MMSC, PLLC seeks approval from the U.S. Bankruptcy Court
for the District of Massachusetts to employ Diane Lopes, PA and
Diane Lopes Tax & Accounting Services to provide accounting
services.

Ms. Lopes standard hourly rate is $125.

Ms. Lopes, principal of Diane Lopes Tax & Accounting Service,
assured the court 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:

     Diane Lopes, PA
     Diane Lopes Tax & Accounting Services
     43 Nash Road
     New Bedford, MA 02746
     Phone: 508-992-0272
     Email: info@dianelopes.com

         About CS Lee DMD MMSC

CS Lee DMD MMSC, PLLC filed a Chapter 11 petition (Bankr. D. Mass.
Case No. 23-11184) on July 26, 2023, with as much as $1 million in
both assets and liabilities. Judge Christopher J. Panos oversees
the case.

The Law Office of Peter M. Daigle serves as the Debtor's counsel.


CLEAR BLUE: Files Emergency Bid to Use Cash Collateral
------------------------------------------------------
Clear Blue Pool Supply San Antonio, LLC asks the U.S. Bankruptcy
Court for the Western District of Texas, San Antonio Division, for
authority to use cash collateral and provide adequate protection.

Clear Blue's debt problems originated from its use of Merchant Cash
Advance Loans to pay for its quick growth and to maintain business
in the slow winter months where sales decreased by up to 66%.
Initially, the Debtor was able to manage the debt; however, Covid
19 put a heavy strain on the Debtor's operations by increasing
operations but also dramatically increasing costs through
inflation. Then recently, the Debtor tried to eliminate a large
portion of its debt by selling a portion of its maintenance route
but that put debtor "sideways" with Pinch a Penny, which fined the
Debtor and demanded large paydowns of its debt with the Debtor,
which has deprived the Debtor of cash needed for the winter months
and made it difficult to service the remaining MCA debt from 2021
and early 2022.

Beginning in 2021, the Debtor took out new MCA loans to help it
survive COVID, Clear Blue took out a $132,563 Merchant Cash Advance
Loan from PayPal Holdings, Inc. and a $48,428 MCA loan from OnDeck
Capital to pay its staff, maintain its overhead expenses, and
generally stay afloat.

Ultimately, the aggressive terms of these MCA loans compiled with
the large payments to Pinch a Penny overtook Clear Blue and
resulted in PayPal obtaining a $139,987 arbitration award against
both the Debtor and Mr. Thompson in April of 2023, which is now
pending judgment. In July 2023, OnDeck Capital initiated another
lawsuit against Clear Blue.

In spite of these difficulties, Clear Blue made substantial
progress toward paying off its creditors, and has been able to pay
down its debt to the PAP Entities by $100,000, leaving
approximately $107,000 in remaining debt. Additionally, Clear Blue
was able to pay down other debts through the aforementioned sale of
pool routes. Clear Blue sold its warehouse location, all contents
within the warehouse, 260 maintenance routes, and six company
vehicles for $680,000 allowing it to pay down a substantial amount
of its debt.

While Debtor has made great strides toward eliminating its debt,
the most recent MCA creditor arbitration and lawsuit have
necessitated the bankruptcy filing.

While the two MCA entities have UCC filings against the Debtor, the
Debtor contends that the Debtor only has sufficient assets to
secure the PAP liens. In addition to these debts, the Debtor has
approximately $60,000 in other unsecured debts. The Debtor also
pays $4,517 monthly to Aaron Thompson, effectively, in lease
payments for use of 8 vehicles for the business. The combined
payment solely is the monthly payment for the vehicles to Frost
Bank.

Clear Blue is uncertain as to the allocation of the $107,000
between the PAP Entities as Pinch a Penny has generally managed all
outstanding debts from a central financing officer. The Debtor
intends to provide adequate assurance to the PAP Entities through
replacement liens, monthly interest payments to Pinch a Penny to be
distributed pro rata to the PAP Entities at 7% interest ($650
monthly between the three entities) and maintaining all other
payments in the regular course of business to Pinch a Penny during
the course of the bankruptcy.

A copy of the motion is available at https://urlcurt.com/u?l=6VZ161
from PacerMonitor.com.

          About Clear Blue Pool Supply San Antonio, LLC

Clear Blue Pool Supply San Antonio, LLC sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. W.D. Tex. Case
No.23-51217-cag) on September 6, 2023. In the petition filed by
Aaron J. Thompson, manager, the Debtor disclosed $100,000 in total
assets and $500,000 in estimated liabilities.

Ronald Smeberg, Esq., at Smeberg Law Firm, represents the Debtor as
legal counsel.


CONSTANT CONTACT: $300MM Bank Debt Trades at 17% Discount
---------------------------------------------------------
Participations in a syndicated loan under which Constant Contact
Inc is a borrower were trading in the secondary market around 83.3
cents-on-the-dollar during the week ended Friday, September 8,
2023, according to Bloomberg's Evaluated Pricing service data.

The $300 million facility is a Term loan that is scheduled to
mature on February 10, 2029.  The amount is fully drawn and
outstanding.

Constant Contact, Inc. operates as a marketing company. The Company
provides e-mail marketing services as well as conducts social media
campaigns, managing digital storefronts, and creating online
surveys for businesses, associations, and organizations to help
them to connect with their customers and members.



CORNERSTONE CHEMICAL: S&P Downgrades ICR to 'D' on Missed Payment
-----------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on U.S.-based
niche producer of intermediate chemicals including acrylonitrile,
melamine, and sulfuric acid, Cornerstone Chemical Co., to 'D' from
'CC'.

At the same time, S&P lowered its issue-level rating on
Cornerstone's senior secured notes to 'D' from 'CC'. The recovery
rating on the notes is '4', indicating its expectation for average
(30%-50%; rounded estimate: 35%) recovery in the event of a payment
default.

The downgrade reflects Cornerstone's announcement of several
actions that represent a default. The company issued a new tranche
of priority senior secured notes accruing at 13% payable monthly
and due Aug. 25, 2024; entered into agreements that allow the
subordination of all of the liens on the collateral securing the
notes due 2027 to the 13% priority senior secured notes due 2024;
and extended the grace period for default in the payment of
interest on the 2027 notes to 361 days from 30 days. In S&P's view,
these actions represent a default on the 2027 notes because
Cornerstone will not meet its contractual obligation to pay
principal and interest in a timely manner or within a 30-day grace
period.

Given the issuance of priority senior secured notes ($22 million
initial draw), S&P has revised the rounded estimate of recovery on
the 2027 notes to 35% from 40%.

With $793 million of revenues in 2022, Cornerstone Chemical Co.
produces intermediate and building block chemicals, including
acrylonitrile (49% of 2022 revenue), melamine (25%), sulfuric acid
(11%), and diesel exhaust fluid (1%). The toll manufacturing
agreement with Belle Chemical Co. to produce methylamines (14%) has
ended. The company operates from a single site in Waggaman, La.

Cornerstone is the sole producer of melamine in North America, and
one of three acrylonitrile merchant producers in North America. Key
end markets for its products are residential and commercial
construction, water treatment, consumer plastics, carbon fiber,
agricultural, electronics, automotive, hydraulic fracturing, and
personal care, among others. Littlejohn has owned Cornerstone since
August 2017, when it acquired the company from HIG Capital.



CRYPTO CO: Signs Code Licensing Agreement with TelBill
------------------------------------------------------
The Crypto Company disclosed in a Form 8-K filed with the
Securities and Exchange Commission that on Aug. 31, 2023, it
entered into a Code Licensing Commercial Agreement with TelBill,
LLC, pursuant to which TelBill grants the Company a non-exclusive,
worldwide, revocable, non-transferable, sublicensable, license to
use and market its software and fin-tech products and services to
the Company's customers.  In exchange, the Company will pay TelBill
a sum of $300,000, paid in accordance with the fee schedule set
forth in the Agreement.  The Company will also pay TelBill for all
security system infrastructure costs and to manage the code
instance, which will both be billed at actual cost with no markup.
In addition, TelBill is entitled to share in the revenue generated
by the Company through the use of TelBill's software, at a rate of
15% of net program profits.  As additional consideration for the
license, the Company will provide TelBill with 19.98% equity in the
Company in the form of warrants with a 30-year expiration, and
which vest in accordance with the vesting schedule set forth in the
Agreement.

The Agreement has a 100-year term or will continue until it is
terminated in accordance with the provisions set forth in the
Agreement.  Each party may terminate the Agreement, upon written
notice to the other party.  Neither party may assign the Agreement,
including through a change of control.  The Agreement also contains
customary representations, warranties and covenants, and the
parties have also agreed to indemnify and hold each other harmless
from claims and losses arising directly or indirectly from the
Agreement under certain circumstances.

                       About Crypto Company

Malibu, Calif.-based The Crypto Company -- www.thecryptocompany.com
-- is engaged in the business of providing consulting services and
education for distributed ledger technologies, for the building of
technological infrastructure, and enterprise blockchain technology
solutions.

Crypto Company reported a net loss of $5.66 million in 2022, a net
loss of $785,630 in 2021, and a net loss of $2.82 million in 2020.
As of March 31, 2023, the Company had $1.38 million in total
assets, $5.02 million in total liabilities, and a total
stockholders' deficit of $3.64 million.

Lakewood, CO-based BF Borgers CPA PC, the Company's auditor since
2019, issued a "going concern" qualification in its report dated
April 14, 2023, citing that the Company has suffered recurring
losses from operations that raises substantial doubt about its
ability to continue as a going concern.


D'RIA GROUP: Seeks to Hire JMLIU as Accountant
----------------------------------------------
D'RIA Group Inc. seeks approval from the U.S. Bankruptcy Code for
the Central District of California to hire Jennifer Liu, owner of
JMLIU CPA Accountancy Corp, as its accountant.

he accounting services to be rendered by Ms. Liu include preparing
monthly operating reports, setting up 20 Quickbooks account system,
providing data necessary for interim statements, and booking
services.

Ms. Liu received a retainer in the amount of $7,500.

The Debtor agrees to pay the accountant an hourly fee of $350.

Ms. Liu disclosed in a court filing that she does not have prior
connection with the Debtor and does not hold any pre-bankruptcy
claim.

Ms. Liu can be reached at:

     Jennifer M. Liu, CPA, MBT
     JMLIU, CPA, ACCOUNTANCY CORP.
     9454 Wilshire Blvd. Ste 628
     Beverly Hills, CA 90212
     Cell Phone: (310) 801-2479
     Email: jmliucpa@gmail.com

             About D'RIA Group Inc.

D'RIA Group Inc. DBA QortstoneQortstone is a supplier of engineered
quartz surfaces for residential & commercial properties.

D'RIA Group Inc. filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. C.D. Cal. Case No.
23-11148). The petition was signed by Ani Vartabetian as chief
executive officer. At the time of filing, the Debtor estimated
$100,000 to $500,000 in assets and $10 million to $50 million in
liabilities.

Michael Jay Berger, Esq. at the LAW OFFICES OF MICHAEL JAY BERGER
represents the Debtor as counsel.


DECISION POINTE: Business Profits to Fund Plan
----------------------------------------------
Decision Pointe Solutions, LLC, filed with the U.S. Bankruptcy
Court for the District of Colorado a Subchapter V Plan of
Reorganization dated August 31, 2023.

The Debtor is a Colorado limited liability company formed in
January 2018 by software developer and former military intelligence
officer Ron Fournet.

The company purchases big data, mostly from national sellers of
aggregated consumer information, and then uses the company's
software applications and algorithms to organize the data, which
Mr. Fornet then helps to interpret for litigators during jury
selection.

In the first quarter of 2020, Decision Pointe began to market its
flagship software, EDGE Juror. Almost immediately after that, the
COVID-19 pandemic brought about the cessation of jury trials. In
2022, just as things were starting to turn around for the company,
one of the co-owners initiated litigation with the company.
Decision Pointe was not even able to afford the settlement terms,
so bankruptcy was filed so that the company could deal with the
settlement agreement liability and its other liabilities in the
context of a Chapter 11 plan.

The Debtor scheduled several unsecured pre-petition debts. The
nonpriority unsecured claims include Ron Fournet for a loan with an
unpaid balance of $325,000 and $7,000 for unpaid compensation,
totaling $332,000; A COVID-19 relief loan with an unpaid balance of
$39,528.46; Novustep LLC, a/k/a David McGuire, for a loan with an
unpaid balance of $177,735.15 as of April 1, 2023; Justin Morgan
for the unpaid balance of $78,000 per a prepetition settlement
agreement resolving state court litigation; Stephen Padwe for
$15,000 in unpaid compensation; Daniel Joseph Spiess for $10,000 in
unpaid compensation; UnitedHealthcare Insurance Company for
$1,380.06 in unpaid employee health insurance benefits premiums;
and Paul Kay for a loan with an unpaid balance of $17,280.

Class 2 consists of Unsecured Creditor Claims. Holders of Class 2
Allowed Unsecured Claims shall share monies deposited into the
Unsecured Creditor Account on a Pro Rata basis as set forth in the
Plan. The Debtor shall deposit its disposable income every month,
if any. On June 30 and December 31 each year of the Plan, the
balance of the Unsecured Creditor Account will be distributed to
the holders of Class 2 Allowed Unsecured Claims on a Pro Rata
basis.

Class 3 the Membership interests in the Debtor are unimpaired by
the Plan. Upon Confirmation of the Plan, the Members of the Debtor
will retain their ownership of the Debtor.

The Debtor shall be empowered to take such action as may be
necessary to perform his obligations under this Plan.

On the Effective Date of the Plan, the Debtor will open a separate
interest-bearing deposit account at a federally insured commercial
bank selected by the Debtor. The Debtor will maintain the bank
account as the Unsecured Creditor Account, into which all payments
made by the Debtor for the benefit of Class 2 creditors will be
made until the obligations under the Plan are completed.

The Debtor believes that its Plan is feasible. The funding for the
Plan will come from the Debtor selling its goods and services
relating to its jury selection and litigation-related software. The
following five-year projections ("Projections") for the Debtor's
financial performance demonstrate that the Debtor will have
sufficient cash on hand and profits during the term of the Plan to
satisfy his Plan obligations.

Under the Plan, the Debtor will be dedicating the projected amount
of approximately $66,000 to pay creditors. After paying priority
creditors, $42,694.08 will remain to pay Class 2 Unsecured
Creditors Claims on a Pro Rata basis.

A full-text copy of the Subchapter V Plan dated August 31, 2023 is
available at https://urlcurt.com/u?l=ZLAoCJ from PacerMonitor.com
at no charge.

Counsel for Debtor:

     Jeffrey A. Weinman, Esq.
     Lance Henry, Esq.
     Allen Vellone Wolf Helfrich & Factor, P.C.
     1600 Stout Street, 1900
     Denver, CO 80202
     Tel: (303) 534-4499
     Email: jweinman@allen-vellone.com
            LHenry@allen-vellone.com

               About Decision Pointe Solutions

Decision Pointe Solutions, LLC, is a Colorado limited liability
company formed in January 2018 by software developer and former
military intelligence officer Ron Fournet.

Decision Pointe Solutions filed a Chapter 11 bankruptcy petition
(Bankr. D. Colo. Case No. 23-11338) on April 3, 2023, with as much
as $50,000 in assets and $500,001 to $1 million in liabilities.
Judge Thomas B. Mcnamara oversees the case.

The Debtor tapped Allen Vellone Wolf Helfrich & Factor P.C. as
legal counsel and CLIQ Consulting, LLC, as accountant.


DENT TECH: Time to Confirm Plan Extended to Jan. 3
--------------------------------------------------
Judge Elizabeth S. Stong has entered an order, granting the motion,
that the time to confirm a Chapter 11 Small Business Disclosure
Statement together with a Chapter 11 Small Business Chapter 11 Plan
of Dent Tech Laboratory, Inc. will be extended though and including
January 3, 2024.

Dent Tech Laboratory submitted an Amended Disclosure Statement
describing the Plan of Reorganization dated August 17, 2023.  The
Plan will be financed from continuing operating income, reorganized
business operations of the Debtor, from the timely collections of
outstanding receivables, as well as from funds accumulated in the
Debtor's in Possession accounts.  Like in the prior iteration of
the Plan, Class I general unsecured creditors in the total amount
of $117,093.19 shall receive 20% dividend in 36 monthly
installments.

A full-text copy of the Amended Disclosure Statement dated August
17, 2023 is available at https://urlcurt.com/u?l=34oyUG from
PacerMonitor.com at no charge.

Attorney for the Debtor:

     Alla Kachan, Esq.
     2799 Coney Island Ave., Suite 202
     Brooklyn, NY 11235
     Tel: (718) 513-3145
     Fax: (347) 342-315
     E-mail: alla@kachanlaw.com

                  About Dent Tech Laboratory

Dent Tech Laboratory, Inc., operates a dental laboratories
business.

Dent Tech Laboratory sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D.N.Y. Case No. 22-41469) on June 23,
2022, listing up to $50,000 in assets and up to $500,000 in
liabilities. Gregory B. Mashevich, president, signed the petition.

Judge Elizabeth S. Stong oversees the case.

Alla Kachan, Esq., at the Law Offices of Alla Kachan P.C. and
Wisdom Professional Services, Inc. serve as the Debtor's legal
counsel and accountant, respectively.


DESOLATION HOLDINGS: Seeks Approval of Disclosure Statement
-----------------------------------------------------------
Desolation Holdings LLC, et al. submitted a motion for an order
approving the disclosure statement and granting related relief.

As the final phase of the wind-down effort, the Debtors filed the
Chapter 11 case to complete the orderly liquidation of their U.S.
and Malta operations. Upon filing the Chapter 11 cases, the Debtors
sought and obtained interim and final orders authorizing them to
borrow up to 700 BTC in debtor-in-possession financing to be used
for general wind down and liquidity purposes, including the payment
of administrative expenses.

The Debtors filed the Plan and the Disclosure Statement. The Plan
provides for, among other things: (i) the continuation of one of
the Debtors solely to administer the Plan; (ii) the cancellation of
all of the other Interests in the Debtors; (iii) the Debtors'
release of claims and causes of action against certain specified
parties; (iv) the release of claims and causes of action against
certain specified third parties by Holders of Claims, among others;
and (v) the dissolution and wind-up of the Debtors' affairs. The
Plan reflects and incorporates settlements among the Debtors and
the SEC, and includes a plan settlement that treats the claims of
the Debtors' customers.

The Plan also provides for Distributions to Holders of Allowed
Claims, including Administrative Claims, Priority Tax Claims, DIP
Loan Claims, Other Priority Claims, BUS Customer Claims, Malta OpCo
Customers Claims, GUC Claims, Subordinated Claims (to the extent
that there are any). Any remaining assets after satisfaction of all
Allowed Claims will be distributed to Interest holders, in strict
compliance with the absolute priority rule.

The following table sets forth the proposed dates and deadlines in
connection with confirmation of the Plan and the relief requested
in the Motion:

   * The Disclosure Statement Hearing will be on September 13, 2023
at 10:00 a.m. (ET).

   * The Record Date will be on September 1, 2023 (except as to
governmental claims).

   * The Solicitation Date will be 4 business days after entry of
the Disclosure Statement Order, expected to be September 18, 2023.

   * The deadline to file claim objections for Plan voting purposes
will be on September 22, 2023 at 4:00 pm. (ET).

   * The deadline to file Bankruptcy Rule 3018 motions for plan
voting purposes will be on Sept. 29, 2023 at 4:00 pm. (ET).

   * The voting deadline will be on Oct. 16, 2023 at 4:00 pm.
(ET).

   * The confirmation objection deadline will be on Oct. 16, 2023
at 4:00 pm. (ET).

   * The deadline for voting agent to file the plan voting report
will be on Oct. 21, 2023 at 4:00 pm. (ET).

   * The deadline for confirmation memorandum/ reply to plan
objections will be on Oct. 21, 2023 at 4:00 pm. (ET).

   * The Plan confirmation hearing will be on Oct. 23, 2023 at
10:00 a.m. (ET).

Counsel for the Debtors:

     Robert S. Brady, Esq.
     Kenneth Enos, Esq.
     YOUNG CONAWAY STARGATT & TAYLOR, LLP
     1000 North King Street
     Wilmington, DE 19801
     Telephone: (302) 571-6600
     Facsimile: (302) 571-1253
     Email: rbrady@ycst.com
            kenos@ycst.com

          - and -

     Susheel Kirpalani, Esq.
     Patricia B. Tomasco, Esq.
     Daniel Holzman, Esq.
     Alain Jaquet, Esq.
     Razmig Izakelian, Esq.
     Valerie Ramos, Esq.
     Joanna Caytas, Esq.
     QUINN EMANUEL URQUHART &
     SULLIVAN, LLP
     51 Madison Avenue, 22nd Floor
     New York, NY 10010
     Telephone: (212) 849-7000
     Facsimile: (212) 849-7100
     E-mail: susheelkirpalani@quinnemanuel.com
             pattytomasco@quinnemanuel.com
             razmigizakelian@quinnemanuel.com
             danielholzman@quinnemanuel.com
             alainjaquet@quinnemanuel.com
             valerieramos@quinnemanuel.com
             joannacaytas@quinnemanuel.com

                    About Desolation Holdings

Bittrex is a regulated digital assets exchange platform.

Desolation Holdings and three of its affiliates filed voluntary
petitions for relief under Chapter 11 of the Bankruptcy Code
(Bankr. D. Del. Lead Case No. 23-10597) on May 8, 2023. Desolation
Holdings' debtor-affiliates are Bittrex, Inc., Bittrex Malta
Holdings Ltd. and Bittrex Malta Ltd.  

At the time of filing, the Debtors estimated consolidated assets of
$500 million to $1 billion in assets and $500 million to $1 billion
in liabilities.

The Hon. Brendan Linehan Shannon presides over the cases.

Quinn Emanuel Urquhart & Sullivan, LLP, led by partner Patricia B.
Tomasco, is the Debtors' counsel. Berkeley Research Group, LLC is
the Debtors' restructuring advisor. Omni Agent Solutions is the
claims agent.


DESOLATION HOLDINGS: Unsecureds to Get 100% Under Plan
------------------------------------------------------
Desolation Holdings LLC, et al., filed an Amended Joint Chapter 11
Plan of Liquidation and a Disclosure Statement.

The Plan provides for a wind down of the Debtors and a recovery
equal to 100% for any: (a) Administrative Claims; (b) Priority Tax
Claim; (c) DIP Loan Claim; (iv) Statutory Fees; and (v) Other
Priority Claims.

Holders of Allowed BUS Customer Claims and Allowed Malta OpCo
Customer Claims will receive their respective Customer Distribution
by having access to the Debtors' platform for withdrawal of 100% of
the amount of Cryptocurrencies or fiat currencies associated with
such Customer's account as of the Petition Date, provided that (i)
Customers will be required to pay any fees charged by third parties
in connection with the withdrawal of Cryptocurrencies or fiat
currencies; (ii) such Holders provide to the Debtors all required
information in order to comply with Governmental Regulations; (iii)
the Cryptocurrencies are not Defunct Crypto as of the date of
Customer Distribution; (iv) to the extent the Cryptocurrencies are
Non-Economic Crypto, such Cryptocurrencies will be aggregated and
converted to fiat currency and distributed pro rata to customers in
amounts associated with their accounts if their value in the
aggregate exceeds the third-party costs associated with their
withdrawal; and (v) such Holders accept the 2022 Updated Terms of
Service of either BUS or BG, as applicable. With respect to
customers of Malta OpCo, they will be asked to sign the BG Terms of
Service in order to migrate to the BG platform. Each Holder of an
Allowed GUC Claims will receive payment in Cash in an amount equal
to such Allowed GUC Claim. Each Holder of an Allowed Subordinated
Claim (to the extent that there are any) will receive payment in
Cash, after all Allowed GUC Claims have been paid in Cash in full,
in an amount equal to such Allowed Subordinated Claim.

On the Effective Date, existing Interests in BUS will survive and
continue to exist as Interests in the Wind Down Entity, which
entitles each Holder of an Allowed Interest in BUS to a pro rata
payment of any remaining Wind-Down Assets (if any) or the proceeds
thereof after all Allowed Claims have been paid in full. On the
Effective Date, existing Interests in all Debtors, other than BUS,
will be deemed canceled, discharged, released, and extinguished,
and there will be no distribution to Holders of Interests in the
Debtors, other than BUS, on account of such Interests. The Wind
Down Entity will be managed by the Plan Administrator. Section VII
of this Disclosure Statement provides a more detailed description
of the Plan.

Under the Plan, Class 3 GUC Claims will recover 100% of their
claims. Each such Holder of an Allowed Claim in Class 3 shall
receive payment in Cash in an amount equal to such Allowed GUC
Claim no later than six months after the Effective Date. Class 3 is
impaired.

In accordance with section 1141 of the Bankruptcy Code, the
Wind-Down Assets shall automatically be assigned, transferred, and
vest in the Wind Down Entity upon the occurrence of the Effective
Date, free and clear of all Claims, Liens, and other interests,
subject only to the Allowed Claims and Class 5 Interests, as set
forth in the Plan, and the expenses of the Wind Down Entity, as set
forth in the Plan, for Distribution in accordance with the Plan.
The Confirmation Order shall be deemed to, pursuant to sections 363
and 1123 of the Bankruptcy Code, authorize, among other things, all
actions as may be necessary or appropriate to effect any
transaction described in, approved by, contemplated by, or
necessary to effectuate the Plan. The Debtors' attorney-client
privilege shall be transferred to the Wind Down Entity.

Notwithstanding any prohibition of assignability under applicable
non-bankruptcy law, on the Effective Date and periodically
thereafter if additional Wind-Down Assets become available, the
Debtors shall be deemed to have automatically transferred to the
Wind Down Entity all of their right, title, and interest in and to
all of the Wind-Down Assets, in accordance with section 1141 of the
Bankruptcy Code. All such Assets shall automatically vest in the
Wind Down Entity free and clear of all Claims, Liens, and other
interests, subject only to the Allowed Claims and the Class 5
Interests, as set forth in the Plan, and the expenses of the Wind
Down Entity, as set forth in the Plan. Thereupon, the Debtors shall
have no interest in or with respect to the Wind-Down Assets or the
Wind Down Entity.

The Debtors and the Plan Administrator, as applicable, shall fund
Distributions under this Plan with the Assets of the Debtors that
may become Cash or Cryptocurrencies, including proceeds from the
Estate Causes of Action other than the Avoidance Actions released
pursuant to Article VIII of the Plan. Each Distribution and
issuance referred to in Article VI the Plan shall be governed by
the terms and conditions set forth in the Plan applicable to such
Distribution or issuance and by the terms and conditions of the
instruments or other documents evidencing or relating to such
Distribution or issuance, which terms and conditions shall bind
each Entity receiving such Distribution or issuance. The issuance,
Distribution, or authorization, of any securities in connection
with the Plan will be exempt from SEC registration to the fullest
extent permitted by law.

Counsel to the Debtors:

     Susheel Kirpalani, Esq.
     Patricia B. Tomasco, Esq.
     Daniel Holzman, Esq.
     Alain Jaquet, Esq.
     Razmig Izakelian, Esq.
     Valerie Ramos, Esq.
     Joanna Caytas, Esq.
     QUINN EMANUEL URQUHART &
     SULLIVAN, LLP
     51 Madison Avenue, 22nd Floor
     New York, NY 10010
     Telephone: 212-849-7000
     Facsimile: 212-849-7100
     E-mail: susheelkirpalani@quinnemanuel.com
             pattytomasco@quinnemanuel.com
             razmigizakelian@quinnemanuel.com
             danielholzman@quinnemanuel.com
             alainjaquet@quinnemanuel.com
             valerieramos@quinnemanuel.com
             joannacaytas@quinnemanuel.com

          - and -

     Robert S. Brady, Esq.
     Kenneth Enos, Esq.
     YOUNG CONAWAY STARGATT & TAYLOR, LLP
     1000 North King Street
     Wilmington, DE 19801
     Telephone: 302-571-6600
     Facsimile: 302-571-1253
     Email: rbrady@ycst.com
            kenos@ycst.com

A copy of the Disclosure Statement dated August 25, 2023, is
available at https://tinyurl.ph/UfuyO from PacerMonitor.com.

                    About Desolation Holdings

Bittrex is a regulated digital assets exchange platform.

Desolation Holdings and three of its affiliates filed voluntary
petitions for relief under Chapter 11 of the Bankruptcy Code
(Bankr. D. Del. Lead Case No. 23-10597) on May 8, 2023. Desolation
Holdings' debtor-affiliates are Bittrex, Inc., Bittrex Malta
Holdings Ltd. and Bittrex Malta Ltd.  

At the time of filing, the Debtors estimated consolidated assets of
$500 million to $1 billion in assets and $500 million to $1 billion
in liabilities.

The Hon. Brendan Linehan Shannon presides over the cases.

Quinn Emanuel Urquhart & Sullivan, LLP, led by partner Patricia B.
Tomasco, is the Debtors' counsel.  Berkeley Research Group, LLC, is
the Debtors' restructuring advisor.  Omni Agent Solutions is the
claims agent.


DIGITAL MEDIA: Board Appoints Neil Nguyen as Director
-----------------------------------------------------
The board of directors of Digital Media Solutions, Inc. has
appointed Mr. Neil Nguyen as a director of the Company.  Mr. Nguyen
was also appointed to the boards of directors of Digital Media
Solutions, LLC, an indirect subsidiary of the Company, and Digital
Media Solutions Holdings, LLC, an indirect subsidiary of the
Company and the parent of DMS LLC.  The appointments to the
subsidiary boards of directors were undertaken pursuant to the
terms of the senior secured credit facility to which DMSH LLC and
DMS LLC are parties.  The Company has not determined whether Mr.
Nguyen will serve on any committees of the Company's board of
directors.

Mr. Neil Nguyen is currently serving as the chief executive officer
and a member of the board of directors for MediaMath, a Searchlight
Capital Partner portfolio company.  Prior to joining MediaMath, Mr.
Nguyen served as the Global Chief Digital & Data Officer at one of
the leading performance marketing media buying agencies, Havas
Edge, part of Havas Worldwide.  From February 2014 to May 2017, Mr.
Nguyen was chief executive officer and president and a member of
the board of Sizmek, Inc.  Prior to that, he also served as chief
executive officer and president and a member of the board of DG,
Inc.  He was also Group President of Point 360, a post production
and content distribution company.  He began his career at Getty
Images, Inc. in 1997. Mr. Nguyen studied Business Administration,
California State University, Northridge.  There are no transactions
since the beginning of the Company's last fiscal year to which the
Company or any of its subsidiaries is a party in which Mr. Nguyen
had or is to have a direct or indirect material interest.

                        About Digital Media

Headquartered in Clearwater, Florida, Digital Media Solutions, Inc.
(NYSE: DMS) -- @ digitalmediasolutions.com -- is a provider of
data-driven, technology-enabled digital performance advertising
solutions connecting consumers and advertisers within the auto,
home, health, and life insurance, plus a long list of top consumer
verticals. The DMS first-party data asset, proprietary advertising
technology, significant proprietary media distribution, and
data-driven processes help digital advertising clients de-risk
their advertising spend while scaling their customer bases.

Digital Media reported a net loss of $52.50 million for the year
ended Dec. 31, 2022. As of March 31, 2023, the Company had $238.81
million in total assets, $337.08 million in total liabilities,
$4.99 million in preferred stock, and a total deficit of $103.27
million.

Digital Media received notice from the New York Stock Exchange on
March 30, 2023, indicating that the Company is not in compliance
with NYSE's continued listing standards because the average closing
price of the Company's common stock was less than $1.00 over a
consecutive 30 trading-day period.

                           *    *    *

As reported by the TCR on Sept. 1, 2023, S&P Global Ratings raised
its issuer credit rating on U.S.-based digital advertising
solutions provider Digital Media Solutions Inc. (DMS) to 'CCC' from
'SD' (selective default).  S&P said the negative outlook reflects
limited visibility into the company's recovery and the potential of
a debt restructuring in 2024 following the expiration of the
company's PIK option period, absent significant cash flow
improvement.


DIGITAL MEDIA: Moody's Cuts CFR to 'Caa3', Outlook Negative
-----------------------------------------------------------
Moody's Investors Service downgraded Digital Media Solutions, LLC's
("DMS") Corporate Family Rating to Caa3 from Caa1, its Probability
of Default Rating to D-PD from Caa2-PD, and the ratings on the
senior secured first lien bank credit facilities, consisting of a
$50 million revolving credit facility ("RCF") and $225 million term
loan to Caa3 from Caa1. Moody's changed the PDR to D-PD to reflect
Moody's view that the amendment to the credit agreement is
considered a distressed exchange, which is a default under Moody's
definition. Moody's will upgrade the PDR to Caa3-PD in about three
business days. The outlook remains negative. The SGL-4 Speculative
Grade Liquidity Rating remains unchanged.

The downgrade of the CFR to Caa3 reflects DMS' weak operating
performance and uncertainty as to the timing of a business
recovery, very high leverage, weak liquidity and the risk that the
capital structure remains unsustainable which could result in
another amendment, or a debt restructuring in 2024 once the PIK
option expires. Governance risks, including an acquisitive growth
strategy at a time of uncertain prospects for the business, were
material to the rating action and remain a key consideration to the
ratings.

The amended credit agreement executed on August 16, 2023 contains
key features including an option for payment-in-kind ("PIK") for
four consecutive quarters starting from Q3 2023.  Following two
quarters of cash interest from Q3 2024, a back-end PIK interest
will apply in 2025 until maturity if the credit facility remains
outstanding. Based on the deteriorating operating performance and
significantly weak liquidity, Moody's expects the company to opt-in
to the PIK interest. Given the high interest rate, the PIK interest
will lead to a substantial interest burden. Moody's views the
inclusion of the PIK interest feature as a distressed exchange
given the amendment addresses near term liquidity pressures and
alleviates a capital structure that is unsustainable.

Moody's took the following rating actions:

Downgrades:

Issuer: Digital Media Solutions, LLC

Corporate Family Rating, Downgraded to Caa3 from
  Caa1

Probability of Default Rating, Downgraded to D-PD from
  Caa2-PD

Backed Senior Secured First Lien Bank Credit Facility,
  Downgraded to Caa3 from Caa1

Outlook Actions:

Issuer: Digital Media Solutions, LLC

Outlook, Remains Negative

RATINGS RATIONALE

DMS' Caa3 CFR reflects Moody's expectations that DMS' revenue and
adjusted EBITDA will continue to be under pressure due to ongoing
challenges in the company's key client verticals in the insurance
sector. In particular, property and casualty insurance carriers are
reducing costs as they face elevated loss ratios stemming from
increasing accident frequency and severity, and rising costs for
auto replacement parts. DMS' operating performance has been
significantly impacted since Q2 2022 due to its high customer
concentration particularly to the insurance vertical. As of 2022,
the insurance vertical represented 61% of total revenue (comprised
of exposure to auto 67%, health 24%, life 6% and home 3%).

Excluding the impact of the recent acquisition of ClickDealer in
March 2023, last twelve months ended June 2023 revenue and EBITDA
decreased by 20% and 67% year-over-year, respectively. As a result,
Moody's adjusted debt to EBITDA rose to 21x as of last twelve
months ended June 2023. Moody's expects a challenging environment
to continue throughout the first half of 2024 and a mild recovery
in the second half of 2024. Due to the growing debt level from the
accrued PIK interest and pressured EBITDA, financial leverage will
remain elevated. However, there is the potential for a stronger
performance by DMS if recession risks subside, inflationary
pressure alleviates, and insurance companies deploy advertising
spend as loss ratios improve.

DMS' SGL-4 Speculative Grade Liquidity Rating reflects weak
liquidity with Moody's expectation for negative free cash flow and
a fully drawn revolver. Given the tight liquidity and absent a
meaningful recovery, Moody's expects DMS to elect the PIK option
(SOFR+11%) for four quarters starting from Q3 2023. The PIK
interest accrued during the period is projected at $47 million.
Following the PIK period, the company is expected to pay cash
interest (SOFR+8%) of $10.5 million each in Q3 and Q4 2024. While
the PIK option allows DMS to preserve liquidity, Moody's believes
there is a risk that the cash balance of $25 million as of June
2023 will not be sufficient to service the cash interest in the
back half of 2024.

The senior secured credit facility contained a financial covenant
that required the company to maintain a total net leverage ratio of
4.5x. The amended credit agreement eliminated the requirement that
the company comply with the covenant for the remainder of 2023
starting from Q2 2023. The amendment provided that the financial
maintenance covenant will be reinstated with a step down starting
at total net leverage ratio of 15.6x in Q1 2024, 10.6x in Q2, 8.3x
in Q3, 7.1x in Q4, 7.0x in Q1 to Q3 2025 and 6.9x in Q4 2025. In
addition, the amendment includes a minimum liquidity covenant of $9
million for the remainder of 2023 and $10 million thereafter until
maturity.

Moody's rates the senior secured first-lien term loan and revolving
credit facility Caa3, same as Caa3 CFR given the all first-lien
debt structure and an average expected family recovery rate of 50%
in a default scenario.

DMS's ESG Credit Impact Score of CIS-5 is driven by a financial
policy that tolerates very high financial leverage and an
acquisitive growth posture despite uncertain business conditions.
Though DMS' shares trade publicly, the company's private equity
sponsors (i.e., Prism Data and Clairvest) own around 42% of the
company's shares and control 70% of the voting rights.

The negative outlook reflects Moody's view that the company's
operations will continue to face challenges given macroeconomic
weakness and a high degree of uncertainty over the timing of
recovery in the insurance vertical over the next 12 months. Absent
a meaningful recovery in DMS' operating performance, there is
uncertainty as to the sustainability of the capital structure and
the potential for another amendment, or a debt restructuring in
2024 once the PIK option expires.

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

The ratings could be upgraded if revenue growth and EBITDA margin
expansion improve significantly leading to a lower probability of
default and an expectation for a stronger recovery at default.

The rating could be downgraded if revenues and profitability fail
to recover from depressed levels leading to a higher probability of
default or the expectation for weaker recovery at default.

Headquartered in Clearwater, FL, Digital Media Solutions, LLC is an
indirect wholly owned operating subsidiary of Digital Media
Solutions, Inc., a publicly traded digital performance marketing
company providing a diversified lead and software delivery
platform. In July 2020, a portion of the outstanding equity of
DMS's predecessor, Digital Media Solutions Holdings, LLC and the
equity of the predecessor's wholly owned subsidiary, CEP V DMS US
Blocker Company, were acquired by Leo Holdings Corp., a special
purpose acquisition company (SPAC), which was subsequently renamed
Digital Media Solutions, Inc. Prism Data, LLC and three private
equity funds controlled by Clairvest Group Inc. currently own
approximately 42% of the company's outstanding shares. As of last
twelve months ended June 2023, net revenue totaled $364 million.

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


DINARDO LAW: Case Summary & Eight Unsecured Creditors
-----------------------------------------------------
Debtor: The DiNardo Law Firm, P.C.
        c/o 5933 Main Street
        Apartment 204
        Williamsville, NY 14221

Business Description: The Debtor provides legal services.

Chapter 11 Petition Date: September 8, 2023

Court: United States Bankruptcy Court
       Western District of New York

Case No.: 23-10865

Debtor's Counsel: Daniel F. Brown, Esq.
                  LIPPES MATHIAS LLP
                  9145 Main Street
                  Clarence, NY 14031
                  Tel: (716) 235-5030
                  Fax: (716) 633-0301

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Joseph DiNardo as sole shareholder.

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

https://www.pacermonitor.com/view/SI4N44A/The_DiNardo_Law_Firm_PC__nywbke-23-10865__0001.0.pdf?mcid=tGE4TAMA


DODGE CONSTRUCTION: $455MM Bank Debt Trades at 18% Discount
-----------------------------------------------------------
Participations in a syndicated loan under which Dodge Construction
Network LLC is a borrower were trading in the secondary market
around 82.4 cents-on-the-dollar during the week ended Friday,
September 8, 2023, according to Bloomberg's Evaluated Pricing
service data.

The $455 million facility is a Term loan that is scheduled to
mature on February 22, 2029.  The amount is fully drawn and
outstanding.

Dodge Construction Network LLC provides software solutions. The
Company offers analytics and software-based workflow integration
solutions for the construction industry. Dodge Construction Network
serves customers in the United States.



EAGLE TRUCKLINES: Brad Odell Named Subchapter V Trustee
-------------------------------------------------------
The U.S. Trustee for Region 6 appointed Brad Odell, Esq., at Mullin
Hoard & Brown, LLP, as Subchapter V trustee for Eagle Trucklines,
Inc., and affiliates.

Mr. Odell 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. Odell declared that he is a disinterested person according to
Section 101(14) of the Bankruptcy Code.

The Subchapter V trustee can be reached at:

     Brad W. Odell
     Mullin Hoard & Brown, LLP
     P. O. Box 2585
     Lubbock, TX 79408
     806-712-1238-direct
     806-765-7491-office
     469-449-3690-mobile
     Email: bodell@mhba.com

                      About Eagle Trucklines

Eagle Trucklines, Inc. operates in the general freight trucking
industry.

Eagle Trucklines filed a petition under Chapter 11, Subchapter V of
the Bankruptcy Code (Bankr. N.D. Texas Case No. 23-42504) on Aug.
25, 2023, with $1 million to $10 million in both assets and
liabilities. Gurinder Chouhan, president, signed the petition.

Judge Edward L. Morris oversees the case.

Robert T. DeMarco, Esq., at DeMarco Mitchell, PLLC represents the
Debtor as legal counsel.


EAST WEST MANUFACTURING: $275MM Bank Debt Trades at 17% Discount
----------------------------------------------------------------
Participations in a syndicated loan under which East West
Manufacturing LLC is a borrower were trading in the secondary
market around 83.4 cents-on-the-dollar during the week ended
Friday, September 8, 2023, according to Bloomberg's Evaluated
Pricing service data.

The $275 million facility is a Term loan that is scheduled to
mature on December 22, 2028.  The amount is fully drawn and
outstanding.

East West Manufacturing LLC assists customers in designing and
manufacturing products as well as logistical support.



ECN CAPITAL: DBRS Confirms BB(high) LongTerm Issuer Rating
----------------------------------------------------------
DBRS, Inc. confirmed the ratings of ECN Capital Corp. (ECN or the
Company), including the Company's Long-Term Issuer Rating of BB
(high) and Preferred Shares Rating of Pfd-4 (high). The trend for
all ratings is Stable. The rating actions follow the Company's
announcement that it has entered into a strategic partnership with
Skyline Champion Corporation (Skyline). The Company's Intrinsic
Assessment (IA) is BB (high) and the Support Assessment is SA3,
resulting in the Company's Long-Term Issuer Rating being equalized
with the IA.

KEY CREDIT RATING CONSIDERATIONS

The ratings confirmation reflects ECN's sound franchise focused on
an asset-light business model centered on secured consumer and
commercial financing businesses, including Triad Financial
Services, Inc. (Triad), ECN's manufactured housing finance
business. The Company also provides marine and recreational vehicle
(RV) financing through its Source One Financial Services, LLC
(Source One), Intercoastal Financial Group, LLC (IFG) and Wake
Lending LLC (Wake Lending) subsidiaries. The ratings also takes
into consideration ECN's recently announced partnership with
Skyline, a leading producer of factory-built housing and retailer
in North America. Skyline announced its intent to make a strategic
investment of $138 million through a privately placed purchase of
common stock and convertible preferred shares. The private
placement is anticipated to close in September 2023, subject to
certain customary closing conditions, including the receipt of
conditional approval from the TSX and the expiration of the
applicable waiting period under the Hart-Scott-Rodino Antitrust
Improvements Act of 1976.

The ratings also consider the Company's recent mixed record of
earnings generation. Although we see ECN's risk profile as sound,
market risk was elevated in 1H23 reflecting the steep increase in
interest rates during 2022 and extended backlogs of manufactured
homes in 2022 and into 1H23, which negatively impacted gain on
sales. We view execution risk to be somewhat elevated given the
partnership's expectation of creating a captive finance company.
The Company's funding profile remains sound, as originations for
the operating businesses are funded on a flow basis by over 100
partners including banks, credit unions, life insurance companies
and asset managers (the Partners). Finally, cash flow leverage is
considered elevated but expected to be restored to levels
consistent with ECN's rating level following the closing of the
Skyline share placement.

The Stable trend incorporates our view that ECN's credit
fundamentals will remain acceptable, despite the uncertain economic
outlook and high interest rate environment. We expect continuing
moderation in housing demand for the remainder of 2023 and into
2024. However, we anticipate that Triad's operating performance
will benefit from solid demand for manufactured housing underpinned
by the notable affordability issues in the U.S. housing market.

CREDIT RATING DRIVERS

A sustained improvement in statutory earnings combined with
materially lowered cash flow leverage while maintaining sound
credit fundamentals would result in an upgrade of the ratings.
Conversely, should proceeds from the Skyline private placement not
be utilized to lower cash flow leverage meaningfully, the ratings
would be downgraded. Also should credit risk on the balance sheet
become more pronounced, or if there were Partner funding
disruptions, the ratings would be downgraded.

CREDIT RATING RATIONALE

ECN has a sound franchise supported by its top tier manufactured
housing financing business, Triad, and its more modest position in
the marine and RV financing market. All of the businesses are asset
– light entities providing secured financings to primarily
super-prime and prime credit quality customers. Overall, we expect
ECN's recently announced partnership with Skyline to benefit the
Company's franchise in a growing market and enhance its funnel for
sourcing originations and improve its efficiencies of operations.

Upon Skyline becoming an investor in ECN, Skyline will have one
representative on ECN's Board of Directors. Additionally, ECN and
Skyline plan to form a captive finance company that will be 51%
owned by Skyline and 49% owned by Triad. ECN's expectation is that
the relationship with Skyline and the JV captive finance company
will help grow ECN's manufactured housing finance business by
streamlining the homebuying experience for ECN's partners and
consumers. Key deliverables of ECN's recently completed strategic
review include the simplification of its operating structure, where
ECN the parent, will be renamed Triad and integrated within Triad,
while alternatives for the RV and marine businesses remain under
consideration. The simplification plan also provides Skyline the
opportunity to acquire the remainder of ECN in the future.

ECN's earnings have been mixed over recent periods. The Company
reported a $48.2 million loss in 1H23, as compared to $14.7 million
of earnings in 1H22. The lower results were primarily driven by a
number of items including higher funding costs, lower gain on sale
due to the rapid increase in interest rates and the extended
industry backlog which extended the time between approval and
closing (funding), as well as various one-time charges. On an
adjusted basis, net income before taxes totaled $6.0 million in
1H23, down from $21.3 million in 1H22, reflecting a 42%
year-on-year (YoY) decrease in loan origination income to $36.0
million, partially offset by a 34% increase in servicing revenue to
$13.3 million. Of note, the announced partnership with Skyline will
open up access for ECN to the balance of Skyline's dealers in which
it does not currently have active relationships, providing access
to retail, as well as floorplan opportunities which should improve
revenue generation.

Overall, ECN's risk profile is sound. However, market risk was
elevated in 1H23, reflecting the steep increase in interest rates
in 2022 and the extended industry backlog in 2022 and into 1H23
which negatively impacted gains on sale. Going forward, and an
offset to this risk, interest rate locks will be placed on loans
upon approval. Meanwhile, the Company's credit risk reflects its
moderately sized but growing manufactured housing floorplan
portfolio ($320 million at June 30, 2023), RV and marine floorplan
loan portfolio ($12 million at June 30, 2023) and the loans held
for trading portfolio ($294 million at June 30, 2023). Providing
comfort, floorplan loans are secured by first priority, fully
perfected liens in the underlying manufactured housing units that
are financed by Triad. Meanwhile, the held for trading portfolio
represents commitments, as well as regular flow business of
manufactured housing loans to large institutional buyers that
prefer larger transaction sizes.

Loans purchased by ECN's Partners are non-recourse purchase
arrangements. Specifically there is no recourse beyond fees to
Partners for charge-offs or prepayments typically within the first
12 months. We see operational risk as a key risk for the Company,
given that its consumer businesses have considerable compliance and
regulatory oversight, and many of its Partners are FDIC-insured
institutions. Lastly, we view execution risk to be somewhat
elevated given ECN's just announced partnership with Skyline,
including the expectations of creating a captive finance company.

We view the Company's funding profile as solid. Indeed, its secured
consumer and commercial segment is funded on a flow basis by its
Partners. In 2Q23, ECN expanded its funding partnership with
Blackstone's Asset Based Finance Group to upsize total funding to
$1.14 billion ($840 million for retail loans and $300 million for
floorplan loans) with all loans to be serviced on Triad's platform.
ECN also entered into a new funding relationship with the Carlyle
Group under which ECN will have access up to $150 million for the
financing of both retail and floorplan manufactured housing loans.
Meanwhile, liquidity is acceptable, including $46.9 million of cash
and cash equivalents as well as $94.3 million of available capacity
under its long-term senior credit facility, subject to available
collateral as of June 30, 2023.

At the end of 1H23, the Company's cash flow leverage was elevated
at 10.0x and is a ratings constraint. Management did note that it
intends to use some of the proceeds from Skyline's investment to
paydown debt, which would improve cash flow leverage.

Notes: All figures are in U.S. dollars unless otherwise noted.



ELESSAR PROPERTIES: Gina Klump Named Subchapter V Trustee
---------------------------------------------------------
The U.S. Trustee for Region 17 appointed Gina Klump, Esq., at the
Law Office of Gina R. Klump, as Subchapter V trustee for Elessar
Properties, LLC.

Ms. Klump will be paid an hourly fee of $480 for her services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.  

Ms. Klump declared that she is a disinterested person according to
Section 101(14) of the Bankruptcy Code.

The Subchapter V trustee can be reached at:

     Gina Klump, Esq.
     Law Office of Gina R. Klump
     11 5th Street, Suite 102
     Petaluma, CA 94952
     Phone: (707) 778-0111
     Email: gklump@klumplaw.net

                      About Elessar Properties

Elessar Properties, LLC is a single asset real estate debtor (as
defined in 11 U.S.C. Section 101(51B)).

The Debtor filed Chapter 11 petition (Bankr. N.D. Calif. Case No.
23-50934) on Aug. 24, 2023, with $10 million to $50 million in
assets and $1 million to $10 million in liabilities. Lynne Bui,
manager, signed the petition.

Stephen L. Burton, Esq., represents the Debtor as legal counsel.


EMERALD ELECTRICAL: Files Amended Liquidating Plan
--------------------------------------------------
Emerald Electrical Consultants, LLC submitted an Amended Chapter 11
Plan of Liquidation.

Under the Plan, Class 3 General Unsecured Claims are impaired.
Each Holder of an Allowed General Unsecured Claim shall be entitled
to receive such holder's pro rata share of the General Unsecured
Claims Fund and will be entitled to receive cash distributions from
the Reorganized Debtor on the later of: (a) the date or dates
determined by the Reorganized Debtor, to the extent there is Cash
available for distribution in the judgment of the Reorganized
Debtor, having due regard for the anticipated and actual expenses,
and the likelihood and timing, of the process of liquidating or
disposing of the Assets; and (b) the date on which such Claim
becomes an Allowed Claim.

General Unsecured Claims Fund shall mean all remaining Cash after
liquidation of all of the Assets and after payment of all
distributions on all Allowed Claims in Classes 1 and 2 and all
Allowed Super-priority Claims, Administrative Claims, Professional
Claims, Priority Claims, Priority Tax Claims, and expenses
(including professional fees) incurred by the Reorganized Debtor
after the Effective Date in the ordinary course of administering
the Plan and enforcing the Debtor's rights thereunder.

This Plan will be funded by a combination of cash on hand,
liquidation of remaining tangible assets, proceeds from the
Debtor's anticipated ERC Tax Credit, and proceeds from the other
non-cash assets by the Reorganized Debtor, including anticipated
proceeds from the certain causes of action as explained in more
detail in the Disclosure Statement. Further, the individual
principals of the Reorganized Debtor will contribute all amounts
necessary to enable the Reorganized Debtor to make all payments
which are required to be made on or before the Initial Distribution
Date, provided however, the Debtor's principals will not be
required to provide any further funds after the Initial
Distribution Date unless they have each personally agreed to do
so.

Counsel for the Debtor:

     Benjamin R. Keck, Esq.
     Craig A. Cooper, Esq.
     KECK LEGAL, LLC
     2566 Shallowford Road, Suite 104-252
     Atlanta, GA 30345
     Tel: (470) 826-6020
     E-mail: bkeck@kecklegal.com
            ccooper@kecklegal.com

A copy of the Amended Chapter 11 Plan of Liquidation dated August
25, 2023, is available at https://tinyurl.ph/aiHFl from
PacerMonitor.com.

             About Emerald Electrical Consultants

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

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

Judge James R. Sacca oversees the case.

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


ENERGYSOLUTIONS INC: S&P Affirms 'B' ICR, Outlook Stable
--------------------------------------------------------
S&P Global Ratings affirmed its ratings on nuclear decommissioning
services provider EnergySolutions Inc., including the 'B' issuer
credit rating, and its debt issue ratings.

S&P assigned its 'B' issue-level rating and '3' recovery rating
(rounded estimate: 65%) to the proposed credit facilities.

The stable outlook reflects its expectation that the company's
portfolio of ongoing multiyear decommissioning work and waste
volume receipts will likely enable it to maintain appropriate
credit measures for the rating, despite the potentially weaker
environment for new project bids over the next few years.

S&P said, "Credit measures should remain appropriate for the
ratings despite the incremental debt incurrence. We believe
EnergySolutions is well positioned to undertake the acquisition of
Williams Industrial Services Group Inc.'s nuclear, energy, and
industrial service lines without significant degradation to its
credit measures. Williams provides construction and maintenance
services to power generation (including nuclear power, 57% of its
end market exposure) and other industrial end markets. The company
will fund the $65 million purchase price (inclusive of $5 million
of fees and expenses) with the proceeds from the new credit
facilities; however, this is balanced by the fact that
EnergySolutions had already paid down its existing term loan to
$546 million from the original $650 million balance, and is
repaying $15 million drawn on its revolver. We estimate the
company's pro forma adjusted debt-to-EBITDA ratio was 3.8x as of
June 30, 2023. We add $108 million to lease- and environmental
remediation-related liabilities to our debt balance. This ratio is
currently lower than the 5.0x-6.5x range that we see as appropriate
for the rating, giving EnergySolutions some capacity to undertake
its growth strategy.

"The stable rating outlook on EnergySolutions reflects our
expectation it will maintain credit measures that are appropriate
for the current rating, as well as adequate liquidity. We view
weighted average S&P Global Ratings-adjusted debt to EBITDA
consistently in the 5.0x-6.5x range as appropriate for the rating.
Given the improvement in the company's credit measures, we believe
it is highly likely that EnergySolutions will refinance its $150
million revolving facility before it becomes current and expect its
liquidity will remain adequate. The multiyear nature of the
company's decommissioning projects will likely enable it to
continue generating solid revenue and earnings even if the
environment for new decommissioning projects temporarily weakens
below previous levels. We also expect the volumes in
EnergySolutions' core waste logistics and disposal services
business will likely continue to recover.

"We could lower our ratings on EnergySolutions if its operating
conditions weaken and cause its weighted average S&P Global
Ratings-adjusted debt to EBITDA to rise above 6.5x with limited
prospects for improvement."

This could occur if:

-- The company experiences delays and cost overruns on its
existing portfolio of decommissioning projects;

-- The operating environment for future nuclear decommissioning
jobs permanently deteriorates;

-- It faces adverse competitive dynamics that lead to diminishing
waste volume receipts;

-- The company uses a greater-than-expected level of debt funding
for another material acquisition; or

-- Its headroom under its financial covenant becomes tight, it is
unable to refinance its revolving credit facility, or it encounter
other liquidity-related concerns.

While unlikely within the next year or so, S&P could raise its
ratings on EnergySolutions if:

-- A change to the company's controlling ownership--for example,
via an initial public offering (IPO) or sale to shareholders with
more conservative financial policies--improves EnergySolutions's
financial risk profile;

-- S&P believes that management and the company's equity sponsors
will operate the business with debt leverage of less than 5.0x on a
sustained basis while maintaining adequate liquidity; or

-- The company continues to exhibit good performance on its
decommissioning projects, wins new projects at a reasonable pace,
and show less variability in its operational profile (the irregular
frequency and magnitude of its major decommissioning jobs and
completions adds considerable variability to its performance, given
its scale).



EXTREME CLEAN: Unsecured Creditors to Get $61K in 35 Months
-----------------------------------------------------------
Extreme Clean Janitorial, LLC, filed with the U.S. Bankruptcy Court
for the Northern District of Mississippi a Plan of Reorganization
under Subchapter V dated September 5, 2023.

Debtor originally operated a janitorial service for commercial
customers, primarily warehouses and post-construction cleaning of
newly built residential homes.

However, a major customer of the business was presented with a UCC
lien claim by one of the creditors and the customer fired the
Debtor.  The Debtor had hired what it was led to believe was a debt
resolution company and related legal representation to assist it
with workouts for all of Debtor's creditors, but the companies
hired failed to protect the Debtor from the lien claim.

The sudden firing of the Debtor by the major customer resulted in
significant negative cash flow issues. The Debtor filed Chapter 11
to prevent further similar UCC claim against other customers from
occurring, thereby preventing further disruptions to or elimination
of cash flow.

Class 4 consists of the disputed general unsecured claim of
Broadway Capital Funding, LLC (hereinafter "Broadway") in the
amount of $56,628.89. Prior to filing bankruptcy, the Debtor paid a
debt consolidation company, Corporate Client Services (hereinafter
"CCS") $221,242.22. Upon information and belief, much of the money
paid to CCS was paid to Broadway and this debt was resolved. Should
Broadway file a claim, it will be disputed. Any amount allowed
shall be paid a pro-rata portion of the amount being paid to the
Allowed General Unsecured Claims as set forth in Class 5. The
Allowed General Unsecured Claim of Broadway is impaired under the
Plan.

Class 5 consists of Allowed General Unsecured Claims. The Allowed
General Unsecured Claims shall consist of the claim of Direct
Merchaants Funding, LLC in the amount of $179,811.95. Debtor will
pay $61,250.00 towards Allowed General Unsecured Claims over a
period of 35 months in monthly payments of $1,750.00, beginning in
the 2nd month after the effective date, which payments shall be
disbursed to the Allowed General Unsecured Claims on a pro-rata
basis.

The amount being paid to Allowed General Unsecured Claims under the
Plan exceeds the amount that said claims would receive in a Chapter
7 liquidation. Upon receipt of a discharge in this case, each
portion of each Allowed General Unsecured Claim that is not being
paid as required under the terms of this Plan will be discharged as
authorized under Chapter 11 of the Bankruptcy Code.

The Debtor has been able to retain enough customers to provide for
average monthly receipts of $37,500. Average monthly operating
costs are $35,250 after payment of the Subchapter V Trustee escrow
payments is completed in November 2023. The net average monthly
profit of $1,750.00 will be sufficient to fund the plan.

A full-text copy of the Plan of Reorganization dated September 5,
2023 is available at https://urlcurt.com/u?l=XJPwQb from
PacerMonitor.com at no charge.

Attorney for Debtor:

     Kevin F. O'Brien, Esq.
     O'Brien Law Firm, LLC
     1890 Goodman Road East, Suite 201
     Southaven, MS 38671
     Telephone: (662) 349-3339

                        About Extreme Clean

Extreme Clean Janitorial, LLC filed a petition under Chapter 11,
Subchapter V of the Bankruptcy Code (Bankr. N.D. Miss. Case No.
23-11385) on May 5, 2023, with as much as $50,000 in assets and
$100,001 to $500,000 in liabilities.  Craig Geno, Esq., at the Law
Offices of Craig M. Geno, PLLC has been appointed as Subchapter V
trustee.

Judge Jason D. Woodard oversees the case.

The Debtor is represented by Kevin F. O'Brien, Esq., at O'Brien Law
Firm, LLC and Robert Gambrell, Esq., at Gambrell & Associates,
PLLC.


EYECARE PARTNERS: $750MM Bank Debt Trades at 21% Discount
---------------------------------------------------------
Participations in a syndicated loan under which Eyecare Partners
LLC is a borrower were trading in the secondary market around 79.4
cents-on-the-dollar during the week ended Friday, September 8,
2023, according to Bloomberg's Evaluated Pricing service data.

The $750 million facility is a Term loan that is scheduled to
mature on February 20, 2027.  The amount is fully drawn and
outstanding.

EyeCare Partners, LLC, headquartered in St. Louis, Missouri, is a
medically focused eye care services provider. EyeCare Partners is
vertically integrated, providing optometry, ophthalmology and
retail products.



FEDNAT HOLDING: Debtor Will Liquidate to Pay Claims
---------------------------------------------------
FedNat Holding Company, et al., together with the Official
Committee of Unsecured Creditors, jointly proposed a First Amended
Combined Disclosure Statement and Plan.

The Plan constitutes a liquidating chapter 11 plan for the Debtors
that contemplates the establishment of various liquidating Debtor
entities by and through which the Plan Administrator will marshal
the remaining assets of the Debtors' estates, review the Claims,
and make Distributions from the remaining assets of the estates to
Holders of Allowed Claims and Allowed Interests, consistent with
the priority of claim provisions of the Bankruptcy Code. Upon the
conclusion of Distributions under the Plan, the Plan Administrator
shall wind down the Debtors' Estates, seek approval to close the
Chapter 11 Cases, and dissolve the Debtors under applicable law.

Class 4 FNHC General Unsecured Claims total $2,178,177 and will
recover 8.09% - 15.58% of their claims. In the event of a
successful challenge to the Tax Re-Allocation and Intercompany
Settlements, the Plan Proponents estimate that the projected
recovery for Holders of Allowed FNHC General Unsecured Claims will
be between 1.59% - 6.19 %. The Plan Administrator shall distribute
to each Holder of an Allowed FNHC Unsecured Claim on the Initial
Distribution Date and each Quarterly Distribution Date thereafter a
Pro Rata Distribution of Net Free Cash as such Net Free Cash is
available on such distribution date. The distribution described in
this section shall be in full satisfaction, settlement, release and
compromise of and in exchange for each FNHC General Unsecured Claim
against the Debtors' Estates Class 4 is impaired.

Class 3 FNU General Unsecured Claims total $5,081,817 and will
recover 100% of their claims.  The Plan Administrator shall
distribute to each Holder of an Allowed FNU Unsecured Claim on the
Initial Distribution Date and each Quarterly Distribution Date
thereafter a Pro Rata Distribution of Net Free Cash as such Net
Free Cash is available on such distribution date. The distribution
described in this section shall be in full satisfaction,
settlement, release and compromise of and in exchange for each FNU
General Unsecured Claim against the Debtors' Estates. Class 3 is
impaired.

Class 3 ClaimCor General Unsecured Claims total $2,024,362 and will
recover 100% of their claims. In the event of a successful
challenge to the Tax Re-Allocation and Intercompany Settlements,
the Plan Proponents estimate that the projected recovery for
Holders of Allowed ClaimCor General Unsecured Claims will be
approximately 95.58%. The Plan Administrator shall distribute to
each Holder of an Allowed ClaimCor Unsecured Claim on the Initial
Distribution Date and each Quarterly Distribution Date thereafter a
Pro Rata Distribution of Net Free Cash as such Net Free Cash is
available on such distribution date. The distribution described in
this section shall be in full satisfaction, settlement, release and
compromise of and in exchange for each ClaimCor General Unsecured
Claim against the Debtors' Estates. Class 3 is impaired.

Class 3 CRIS General Unsecured Claims total $2,811,750 and will
recover 100% of their claims. In the event of a successful
challenge to the Tax Re-Allocation and Intercompany Settlements,
the Plan Proponents estimate that the projected recovery for
Holders of Allowed CRIS General Unsecured Claims will be
approximately 52%. The Plan Administrator shall distribute to each
Holder of an Allowed CRIS General Unsecured Claim on the Initial
Distribution Date and each Quarterly Distribution Date thereafter a
Pro Rata Distribution of Net Free Cash as such Net Free Cash is
available on such distribution date. The distribution described in
this section shall be in full satisfaction, settlement, release and
compromise of and in exchange for each CRIS General Unsecured Claim
against the Debtors' Estates. Class 3 is impaired.

Class 3 Insure-Link General Unsecured Claims total $4,845 and will
recover 74.29% of their claims. In the event of a successful
challenge to the Tax Re-Allocation and Intercompany Settlements,
the Plan Proponents estimate that the projected recovery for
Holders of Allowed Insure-Link General Unsecured Claims will be
approximately 100%. The Plan Administrator shall distribute to each
Holder of an Allowed Insure-Link General Unsecured Claim on the
Initial Distribution Date and each Quarterly Distribution Date
thereafter a Pro Rata Distribution of Net Free Cash as such Net
Free Cash is available on such distribution date. The distribution
described in this section shall be in full satisfaction,
settlement, release and compromise of and in exchange for each
Insure-Link General Unsecured Claim against the Debtors' Estates.
Class 3 is impaired.

After the Effective Date, Liquidating FedNat shall remain in
existence for the sole purpose of liquidation, distribution, and
dissolution. On and after the Effective Date, the Plan
Administrator shall make Distributions under the Plan and shall
implement the dissolution of each of the entities comprising
Liquidating FedNat and monetization of any assets of Liquidating
FedNat pursuant to the Plan Administrator Agreement, any other
provision of the Plan and any applicable orders of the Bankruptcy
Court, and the Plan Administrator shall have the power and
authority to take any action necessary to wind down and dissolve
each of the entities comprising Liquidating FedNat. As soon as
practicable after the Effective Date, the Plan Administrator shall:
(a) take any action reasonably necessary to effectuate the Wind
Down; (b) file for each of the entities comprising Liquidating
FedNat, a certificate of dissolution, together with all other
necessary corporate and company documents, to effect the
dissolution of Liquidating FedNat under applicable nonbankruptcy
law; (c) complete and file all final or otherwise required federal,
state and local tax returns of the Debtors or Liquidating FedNat,
as applicable, and pursuant to section 505(b) of the Bankruptcy
Code, request an expedited determination of any unpaid tax
liability of any of the entities comprising Liquidating FedNat, the
Debtors or their Estates for any tax incurred during the
administration of the Chapter 11 Cases, as determined under
applicable tax laws; (d) take such other actions as the Plan
Administrator may determine to be necessary or desirable to carry
out the purposes of the Plan; and (e) comply with any regulatory
requirements imposed on Liquidating FedNat under applicable law.
The filing by the Plan Administrator of certificates of dissolution
on behalf of each of the entities comprising Liquidating FedNat
shall be authorized and approved in all respects without further
action under applicable law, regulation, order or rule, including,
without limitation, any action by the stockholders or the board of
directors of the Debtors or Liquidating FedNat, as applicable.

Counsel to the Debtors:

     Shane G. Ramsey, Esq.
     NELSON MULLINS RILEY & SCARBOROUGH LLP
     100 S.E. 3rd Ave., Suite 2700
     Ft. Lauderdale, FL 33394
     Telephone: (954) 764-7060
     Facsimile: (954) 761-8135
     E-mail: shane.ramsey@nelsonmullins.com

         - and-

     Frank B.B. Knowlton, Esq.
     1320 Main Street, 17th Floor
     Post Office Box 11070 (29211-1070)
     Columbia, SC 29201
     Telephone: (803) 799-2000
     Facsimile: (803) 256-7500
     E-mail: Frank.knowlton@nelsonmullins.com

Counsel to the Official Committee of Unsecured Creditors:

     Bradford J. Sandler, Esq.
     Paul Labov, Esq.
     Cia H. Mackle, Esq.
     PACHULSKI STANG ZIEHL & JONES LLP
     780 Third Avenue, 34th Floor
     New York, NY 10017-2024
     Telephone: 302.652.4100
     E-mail: bsandler@pszjlaw.com
             plabov@pszjlaw.com
             cmackle@pszjlaw.com

          – and –

     Jeffrey P. Bast, Esq.
     Hunter Grasso, Esq.
     BAST AMRON LLP
     One Se Third Ave., Suite 2410
     Miami, FL 33131
     Tel: (305) 379-7904
     E-mail: jbast@bastamron.com
            hgrasso@bastamron.com

A copy of the First Amended Combined Disclosure Statement and Plan
dated August 25, 2023, is available at https://tinyurl.ph/DUmyN
from PacerMonitor.com.

                   About Fednat Holding Company

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

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

Judge Peter D. Russin oversees the cases.

The Debtors tapped Shane G. Ramsey, Esq., at Nelson Mullins Riley &
Scarborough, LLP as legal counsel and Aprio, LLP as tax preparer.

The U.S. Trustee for Region 21 appointed an official committee to
represent unsecured creditors in the Debtors' Chapter 11 cases. The
committee tapped Pachulski Stang Ziehl & Jones, LLP as lead
bankruptcy counsel; Bast Amron, LLP as local counsel; and
AlixPartners, LLP as financial advisor.


FOOT LOCKER: Moody's Cuts CFR to 'Ba2', Outlook Negative
--------------------------------------------------------
Moody's Investors Service downgraded Foot Locker, Inc.'s corporate
family rating to Ba2 from Ba1, probability of default rating to
Ba2-PD from Ba1-PD, and senior unsecured notes rating to Ba3 from
Ba2, and maintained the negative outlook. The speculative grade
liquidity rating remains unchanged at SGL-2.

The downgrade reflects Moody's view that Foot Locker's earnings and
cash flow are likely to remain pressured for an extended period,
given the execution risk associated with implementing its Lace Up
plan transformation initiatives in a challenging consumer spending
environment. Comparable sales declined 9.4% with operating income
margin below 1% in Q2 2023, and Moody's projects further
deterioration in the second half of 2023 driven by continued
markdowns to lower elevated inventory levels and the annualized
impact of reduced product allocation from NIKE, Inc. (A1 stable).
Although Moody's projects Foot Locker's earnings to begin to
recover in 2024 as the heavy promotional activity in the footwear
sector moderates and the company's cost savings and strategic
initiatives generate more significant benefits, profitability is
expected to remain well below historical levels. Moody's views Foot
Locker's pause in dividend payments positively, as it will support
its ability to generate modest free cash flow over the next 12-18
months while the company maintains a higher levels of capital
expenditures.

The downgrades also reflect governance considerations, including
the company's heightened earnings volatility as new senior
management team implements its strategic initiatives and makes
significant capital investments to support the transformation. Foot
Locker's governance score was lowered to G-3 from G-2 to reflect
these risks.

The outlook remains negative, reflecting the risks to a significant
recovery in operating performance and a return to positive free
cash flow, given the planned transformation and capital investments
amid an uncertain macroeconomic backdrop.

Moody's took the following rating actions for Foot Locker, Inc.:

Corporate Family Rating, Downgraded to Ba2 from Ba1

Probability of Default Rating, Downgraded to Ba2-PD
from Ba1-PD

Senior Unsecured Global Notes, Downgraded to Ba3 from Ba2

Outlook, Remains Negative

RATINGS RATIONALE

Foot Locker's Ba2 CFR reflects the company's scale and
well-recognized Foot Locker brand, which has a strong position in
the premium athletic footwear market in North America and Europe.
The Foot Locker and Kids Foot Locker chains have a differentiated
offering and provide a key distribution channel for vendors,
particularly in the basketball, premium and kids categories. The
rating also benefits from the company's track record of maintaining
a low level of funded debt relative to earnings. Moody's expects
adjusted debt/EBITDA to increase to 2.8x at year-end 2023 from 2.4x
as of July 29, 2023, before improving to 2.7x in 2024. Interest
coverage is projected to decline to 2.4x Moody's-adjusted
EBIT/interest expense in 2023 from 3.5x and improve towards 2.8x in
2024. Moody's projects good liquidity over the next 12-18 months,
with free cash flow turning positive in 2024 from a cash flow
deficit in 2023, reflecting the pause in dividend payments and
earnings improvement. The liquidity profile is also supported by
access to the undrawn $600 million asset-based revolver and a
covenant-lite capital structure.

The rating is constrained by Foot Locker's operations in the
intensely competitive, fragmented and fashion-sensitive footwear
sector, which faces pressure from the continued focus of brands on
growing their direct-to-consumer sales. Foot Locker's concentrated
vendor base elevates the risk of further potential adverse changes
in vendor relationships. The company is also exposed to declining
mall traffic given its current store footprint and relatively
limited digital penetration. Maintaining the value proposition of
the Foot Locker and Foot Locker Kids businesses requires continuing
to offer exclusive and high demand products to their core
"sneakerhead" demographic. It also requires effective omnichannel
investment to meet both consumer and vendor needs. In addition, the
repositioning of the Champs Sports business carries elevated
execution risk as it has a less differentiated position in the
market and faces high competition.

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

An upgrade of the ratings is unlikely in the near term given the
negative outlook. An upgrade would require significant progress in
the implementation of the company's Lace Up plan, a return to
growth with its key vendor NIKE, sustained operating income growth,
and solid positive free cash flow generation before dividend
payments. Quantitatively, the ratings could be upgraded if
Moody's-adjusted EBIT/interest expense is maintained above 3.5x.

The ratings could be downgraded if earnings do not significantly
improve following the expected 2023 declines, or if liquidity
weakens for any reason, including sustained cash flow deficits. The
ratings could also be downgraded if Foot Locker's allocation of
NIKE product or broadly its access to key traffic-driving product
from major vendors is reduced. Persistent underperformance relative
to industry peers, or a material and lasting shift in consumer
preference away from premium athletic shoes could also result in a
downgrade. Quantitatively, the ratings could be downgraded with
expectations that Moody's-adjusted EBIT/interest expense will be
maintained below 2.75x.

Headquartered in New York, NY, Foot Locker, Inc. is a specialty
retailer that sells primarily athletic footwear, apparel, and
accessories through over 2,500 stores globally, as well as its
websites and mobile apps. Banners include Foot Locker, Kids Foot
Locker, Champs Sports, WSS and atmos. Revenue for the twelve months
ended July 29, 2023 was around $8.3 billion.

The principal methodology used in these ratings was Retail
published in November 2021.


FORT WAYNE COLD: Taps Steyer & Company as Accountant
----------------------------------------------------
Fort Wayne Cold Storage, LLC seeks approval from the U.S.
Bankruptcy Court for the Northern District of Indiana to hire
Michael A. Steyer, CPA and Steyer & Company CPAs to render
accounting services during the pendency of this case.

Steyer CPA's professional hourly rates range between $70 and $310.

AS disclosed in the court filing, Steyer CPA has no other
connection with the Debtor other than the above-stated and hold no
interest adverse to the Debtor, nor is Steyer CPA employed by or
otherwise connected with the Debtor's creditors or the Office of
the United States Trustee.

The firm can be reached through:

     Michael A. Steyer, CPA
     STEVER & COMPANY CPAs
     2000 North Clinton Street
     Defiance, OH 43512
     Tel: (419) 782-1030
     Fax: (419) 782-5298
     Email: info@steyerco.cpa

              About Fort Wayne Cold Storage

Fort Wayne Cold Storage, LLC filed its voluntary petition for
relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ind.
Case No. 23-11010) on August 8, 2023. At the time of filing, the
Debtor estimated $100,001 to $500,000 in assets and $1,000,001 to
$10 million in liabilities.

Haller & Colvin, PC represents the Debtor as counsel.


FORTREA HOLDINGS: Fitch Alters Outlook on 'BB' LongTerm IDR to Neg.
-------------------------------------------------------------------
Fitch Ratings has affirmed Fortrea Holdings Inc.'s Long-Term Issuer
Default Rating (IDR) at 'BB'. Fitch has also affirmed the
'BB+'/'RR2' ratings of the senior secured credit facilities and
senior secured notes. The Rating Outlook has been revised to
Negative from Stable.

The Negative Outlook reflects Fortrea's year to date
underperformance and Fitch's expectation of a slower than
anticipated recovery in revenue and profitability levels. The
affirmation reflects Fortrea's competitive position as a global
contract research organization (CRO) that offers a broad range of
clinical development solutions to biopharmaceutical and medical
device customers, offset by uncertainties around margin expansion,
macroeconomic conditions and volatility in biotech funding.

A downgrade will be considered if Fitch's confidence around margin
stabilization fails to improve in the near future.

KEY RATING DRIVERS

Exacerbated Margin Depression: Fortrea's EBITDA margin declined to
9.1% in 2Q23 from 14.5% in 2Q22 due primarily to higher pass
through revenues, lower service fee revenues, and variation in cost
recognitions (carve account methodology versus actual costs). As a
result of this and the company's updated view on EBITDA margin
progressions over the rating horizon, Fitch's confidence in the
previous forecast has been undermined.

Fitch now expects 2023 EBITDA margin to be just under 9% and
expands sequentially thereafter driven by operating leverage on a
higher revenue base and improved operating efficiencies. Fortrea's
ability to restore profitability in the near term and realize
operational improvements and expand margins to levels close to
those of public peers is important in maintaining its current
ratings.

Healthy Long-Term Industry Trends: Fortrea is dedicated to
clinical-stage contract research studies following its spinoff from
LabCorp. According to Fortrea, it participates in the clinical
development segment of the CRO industry with a total addressable
market size of approximately $35 billion, a near-term growth rate
of 3%-5%, and a long-term growth rate of 6%-9%. Healthy long-term
growth prospects are driven by increasing biopharmaceutical R&D
spend, increased demand for longer and more complex clinical trials
and scientific innovation. However, short-term growth can be
volatile due to less robust funding activities for biotechnology
companies.

Competitive in a Consolidating Industry: The once-fragmented CRO
industry has undergone significant consolidation such that a large
portion of market share is controlled by a select group of vendors.
Fortrea is meaningfully smaller (measured by revenue) when compared
with larger competitors such as IQVIA Holdings, Inc. and ICON plc.
Fitch expects Fortrea to hold a top-10 market share in clinical
CRO, despite its smaller scale and less diversified business mix.
In addition, Fitch believes Fortrea's track record of operations
and broad range of offerings should allow the company to remain
competitive in the consolidating market.

Slower Backlog Conversion and Business Awards: Revenue was
essentially flat in 2Q2023 and Fitch forecasts flat to
low-single-digit revenue growth in 2023 and 2024 and mid-single
digit revenue growth thereafter, assuming improvement in
macroeconomic conditions and operational optimization in outer
years.

The limited near-term revenue growth expectation is primarily
attributed to 1) a slowdown in request for proposal (RFP)
activities and net new orders during the 12-month separation period
as customers were waiting for the transition to complete, which has
begun and will continue to affect revenue in the near term due to a
timing lag; 2) a slower backlog conversion rate driven by
investigator site constraints due to staffing challenges, increased
time to fill patient recruitment in certain therapeutic areas and
geographic redistributions; and, to a lesser extent, 3) softness in
the biotech environment.

Prioritizing Organic Investments: Fitch now forecasts EBITDA
leverage around 6.0x by YE 2023 and expects Fortrea to deleverage
to below 4.0x by 2025 through EBITDA growth and modest voluntary
debt repayments. The 'BB' IDR considers that Fortrea will maintain
EBITDA leverage below 4.0x over the long term. Near- to medium-term
capital deployment priorities are expected to be infrastructure and
organic investments.

Excess cashflows are assumed to be deployed toward voluntary debt
repayments, with no shareholder returns over the forecast period.
Tuck-in acquisitions will only be considered after improvements in
net leverage ratios over the longer term, as stated by Management
on its latest earnings call.

DERIVATION SUMMARY

The 'BB' IDR reflects Fortrea's competitive position as a global
CRO that offers a broad range of clinical development solutions to
biopharmaceutical and medical device customers. Fortrea maintains
its commitment to a net leverage target of 2.5x-3.0x over the
medium to long term.

Fitch's 'BB' rating contemplates EBITDA leverage being around or
under 4.0x for the foreseeable future as Fortrea operates as a
standalone company. Fortrea's credit profile is further supported
by solid cash flow from operations relative to capital and debt
service needs. These strengths are offset by uncertainties around
margin expansion, near- to medium-term macroeconomic conditions and
biotech funding volatilities.

The majority of Fortrea's public peers benefit from larger scale,
more diversified business mix and higher profitability levels.
Charles River Laboratories International, Inc. (BBB-/Stable)
participates in the pre-clinical CRO segment (as opposed to Fortrea
in the clinical CRO market) and maintains a strong competitive
position with a track-record of leverage maintenance.

Corporate Recovery Ratings and Instrument Ratings

Fitch has assigned Recovery Ratings of 'RR2' to Fortrea's senior
secured debt instruments as Fortrea maintains an accounts
receivable purchase program, which Fitch considers to be senior to
the senior secured debt instruments in a bankruptcy scenario.

KEY ASSUMPTIONS

- Revenue of $3.0 billion-$3.1 billion and EBITDA margin of
8.0%-9.0% in 2023;

- Organic revenue growth in low-single digits in 2024 and
mid-single digits in 2025 and 2026;

- EBITDA margin expands to 10%-13% in 2024-2025 and to low- to
mid-teens in 2026;

- Effective interest rates of 7.0%-8.0% over the forecast period,
moving with SOFR;

- Capex of 2.0%-2.5% of revenue over the forecast period;

- Positive FCF of $40 million-$80 million per year in 2023-2024 and
of $120 million-$160 million per year thereafter;

- Voluntary debt repayment of $50 million per year post-2024;
acquisitions totaling $100 million post-2025;

- No allocation of FCF toward shareholder-friendly actions.

RATING SENSITIVITIES

The Outlook could be resolved with a margin stabilization that
supports a clear pathway to reducing EBITDA leverage to below
4.0x.

Factors that Could, Individually or Collectively, Lead to Positive
Rating Action/Upgrade

- Operational stability that leads to EBITDA margin expansion to
levels similar to Fortrea's public peers;

- Capital deployment strategies that leads to Fitch's expectation
of EBITDA leverage sustaining below 3.5x and (cash flow from
operations (CFO)-capex)/debt sustaining above 10%;

- Increased scale and diversification that strengthen Fortrea's
competitive position among global CROs.

Factors that Could, Individually or Collectively, Lead to Negative
Rating Action/Downgrade

- Operational instability that reduces Fitch's confidence in
management's ability to restore EBITDA margin to above the
low-teens;

- Inability to demonstrate a pathway and/or make any progress,
within the next one to two quarters, toward reducing EBITDA
leverage to below 4.0x within 12 to 24 months;

- (CFO-capex)/debt sustaining below 5%.

LIQUIDITY AND DEBT STRUCTURE

Sufficient Liquidity: Liquidity is supported by cash on hand of
$114 million, no borrowings under its $450 million senior secured
revolver due 2028 as of June 30, 2023, and expected positive FCF
during the forecast despite one-time stand-up costs and duplicative
costs, while operating under the transition services agreement with
LabCorp. Fortrea will have no meaningful debt maturities beyond
term loan amortization. Fitch assumes as FCF expands it will be
directed toward organic investments, debt repayments and tuck-in
acquisitions. Fitch has not assumed any shareholder-friendly
actions over the rating horizon.

Debt Maturities: The senior secured revolving facility and term
loan A mature in 2028, and the senior secured term loan B and
senior secured notes mature in 2030. Term loan amortization is
approximately $31 million per year. Fitch assumes that effective
interest rate will be 7.0%-8.0%.

ISSUER PROFILE

Fortrea Holdings, Inc. is a CRO that provides clinical development
and commercialization services and software applications supporting
clinical trials to biopharmaceutical and medical device companies.
Fortrea supports clinical trial activities in more than 90
countries and across a diverse set of more than 20 therapeutic
areas.

ESG CONSIDERATIONS

The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit-neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.

   Entity/Debt             Rating        Recovery   Prior
   -----------             ------        --------   -----
Fortrea
Holdings Inc.       LT IDR BB  Affirmed               BB

   senior secured   LT     BB+ Affirmed     RR2       BB+


FULL SPECTRUM: Unsecureds to Split $45K in Subchapter V Plan
------------------------------------------------------------
Full Spectrum Pediatric Therapy, Inc., filed with the U.S.
Bankruptcy Court for the Middle District of Tennessee a Second
Amended and Restated Plan of Reorganization under Subchapter V
dated August 31, 2023.

The Debtor is an individually owned and operated practice located
in Clarksville Tennessee. Its' practice specializes in pediatric
therapy, including autistic and behavioral issues.

According to the budget, $5,500 has been allocated for the plan
payments (the actual total amount for the plan is $5,556.58), and
the budget shows an operating profit of $70,710 after plan payments
on gross sales of $979,190. You these projections should consult
with your accountant or other financial advisor if you have any
questions pertaining to.

This Plan of Reorganization proposes to pay the creditors of the
Debtor from cash flow from business operations and future income of
the Debtor as set forth herein.

Class No. C shall consist of the allowed unsecured claims not
entitled to priority and not expressly included in the definition
of any other class. This class includes, without limitation, claims
arising out of the rejection of any executory contact or unexpired
lease, each allowed claim secured by a lien on property in which
the Debtor has an interest to the extent that such claim is
determined to be unsecured pursuant to Section 506(a) of the
Bankruptcy Code, or unsecured by way of avoidance pursuant to
Section 522(f) of the Bankruptcy Code, and each such claim of the
class described in Section 507(a) of the Bankruptcy Code, to the
extent that the allowed amount of such claim exceeds the amount
which such claim may be afforded priority thereunder.

The claims in this class shall be paid a pro-rate distribution of
$45,000.00 commencing on the Effective Date of the plan, payable at
the rate of $750.00 per month, until the total amount specified
herein has been paid.

The Debtor will retain all ownership rights in property of the
estate.

The Debtor anticipates the funds to meet the plan payments shall
come from the daily operations of the Debtor's physical therapy.

A full-text copy of the Subchapter V Plan dated August 31, 2023 is
available at https://urlcurt.com/u?l=xabM0c from PacerMonitor.com
at no charge.

Attorney for Debtor:

     Steven L. Lefkovitz, Esq.
     Lefkovitz & Lefkovitz, PLLC
     908 Harpeth Valley Place
     Nashville, TN 37221
     Tel: (615) 256-8300
     Fax: (615) 255-4516
     Email: slefkovitz@lefkovitz.com

            About Full Spectrum Pediatric Therapy

Full Spectrum Pediatric Therapy, Inc., is an individually owned and
operated practice located in Clarksville, Tennessee.

The Debtor filed a Chapter 11 bankruptcy petition (Bankr. M.D.
Tenn. Case No. 23-01220) on April 5, 2023, with as much as $1
million in both assets and liabilities. Judge Marian F. Harrison
oversees the case.

The Debtor is represented by Steven L. Lefkovitz, Esq., at
Lefkovitz & Lefkovitz, PLLC.


GATOR COURIERS: Unsecureds Will Get 10% of Claims over 3 Years
--------------------------------------------------------------
Gator Couriers Inc. filed with the U.S. Bankruptcy Court for the
Western District of Tennessee a Small Business Subchapter V Plan of
Reorganization dated August 31, 2023.

The Debtor is a company organized under the laws of the State of
Tennessee with its principal office at 85 Macon Ridge Cove,
Williston TN 38076.

This company's shareholders are Brandon Wylie as 51% shareholder
and Katie Wylie as 49% shareholder. The Debtor is a trucking
operation whose only client for hauling is Federal Express. The
Debtor operates out of their home located at the location above but
the Debtor built a shop on the back part of the real property where
trucks and repairs are made to their vehicles and equipment.

Class 2: General Unsecured Claims. The Debtor reserves the right to
object to certain unsecured claims if necessary including but not
limited to Penske. The Debtor expects to pay no less than 10% on
allowed unsecured claims over a three-year period in annual
payments beginning on the Effective Date of Plan and on the
Anniversary date each year thereafter. Class 2 is unimpaired.

Class 3 consists of the Allowed Equity Interests of Brandon Wylie
and Katie Wylie. On the Effective Date, the holders of the Allowed
Equity Interest shall retain 100% of their respective interests in
the Reorganized Debtor. Other than retaining their Equity Interests
in the Reorganized Debtor, the holders of the Allowed Equity
Interests shall not be entitled to receive any other Distribution
under this Plan on account of such Equity Interests.

The Debtor shall fund the Plan out of its projected disposable
income generated from the operation of its business. Brandon Wylie
shall remain as President of the Debtor.

A full-text copy of the Subchapter V Plan dated August 31, 2023 is
available at https://urlcurt.com/u?l=Moc71P from PacerMonitor.com
at no charge.

Attorney for Debtor:

     Toni Campbell Parker, Esq.
     Law Firm of Toni Campbell Parker
     45 North Third Ave, Ste. 201
     Memphis, TN 38103
     Tel: (901) 683-0099
     Email: Tparker002@att.net

                     About Gator Courier

Gator Courier, Inc., is a courier service provider in Rossville,
Tenn.

Gator Courier filed a petition under Chapter 11, Subchapter V of
the Bankruptcy Code (Bankr. W.D. Tenn. Case No. 23-22453) on May
22, 2023, with $1,094,000 in assets and $1,816,507 in liabilities.
Mark Allen, manager, signed the petition.

Judge Jennie D. Latta oversees the case.

The Debtor is represented by the Law Office of Toni Campbell
Parker.


GIP PILOT: Moody's Assigns First Time Ba3 Corporate Family Rating
-----------------------------------------------------------------
Moody's Investors Service assigned first-time ratings to GIP Pilot
Acquisition Partners, L.P. including a Ba3 Corporate Family Rating,
a Ba3-PD Probability of Default Rating and a Ba3 rating to its
proposed $1.3 billion senior secured debt offering. The rating
outlook is stable.

GIP Pilot will use the debt proceeds, along with a $2.9 billion
equity contribution from Global Infrastructure Partners (GIP, not
rated), to acquire a 40% interest in the Columbia Pipelines Holding
Company, LLC (CPHC, Baa2 stable). CPHC, through its wholly owned
subsidiary Columbia Pipelines Operating Company, LLC (CPOC, Baa1
stable) owns more than 15,000 miles of FERC regulated natural gas
pipelines extending from New York state to the Gulf of Mexico and
more than 270Bcf of integrated working gas storage. On July 24,
2023 GIP announced the purchase of a 40% non-operating interest in
what is now CPHC for $3.9 billion in cash from TC Energy
Corporation (Baa3 stable). GIP Pilot is owned by GIP and was formed
to acquire the 40% interest in CPHC.

Assignments:

Issuer: GIP Pilot Acquisition Partners, L.P.

Corporate Family Rating, Assigned Ba3

Probability of Default Rating, Assigned Ba3-PD

Senior Secured Revolving Credit Facility, Assigned Ba3

Senior Secured Term Loan, Assigned Ba3

Outlook Actions:

Issuer: GIP Pilot Acquisition Partners, L.P.

Outlook, Assigned Stable

RATINGS RATIONALE

"GIP Pilot's Ba3 credit rating reflects the low business risk
profile of the underlying operating assets held by Columbia
Pipelines Operating Company, LLC (CPOC Baa1 stable) offset by its
minority 40% share and non-operating ownership interest in the
pipelines" said Gavin MacFarlane, Vice President-Senior Credit
Officer. The rating also considers that GIP Pilot's $1.3 billion of
debt is structurally subordinated to debt at CPHC and CPOC and is
completely reliant on its share of distributions from these
entities for its own debt service requirements.

CPOC owns a highly interconnected network of natural gas pipelines
and gas storage systems whose primary asset sits directly atop the
Marcellus and Utica Shale producing regions. These assets generate
predictable cash flow underpinned by long-term contracts that have
an average remaining life of about 7 years. About 41% of capacity
is contracted with utilities, which are typically investment grade
counterparties, and Moody's expect that these utility customers
will continue to recontract capacity on the pipelines. However,
overall shipper credit quality has declined as the number of
producer shippers has increased. Moody's expect CPOC to maintain
its strong competitive position.

Offsetting the strengths of the underlying asset, GIP Pilot has
high proportionately consolidated leverage that Moody's forecast
will generate ratios in the range of 10-12% FFO/debt. A 4.75x
leverage target at CPHC could increase the volatility of
distributions to GIP Pilot, resulting in moderate stability of
overall dividends. In addition, GIP Pilot debt is structurally
subordinated to debt issued by CPOC and CPHC. GIP Pilot has a
strong influence on CPHC and moderate distribution coverage that
leads to additional notching that is incorporated in its rating.

Governance is a key driver. Moody's view GIP Pilot as having strong
influence over key decisions at the pipeline, including voting
power commensurate with its 40% ownership interest in CPHC.
Significantly, many key decisions at CPHC require a supermajority
(85%) vote of the board, including significant growth projects,
corporate finance transactions and changes to CPHC's 4.75x leverage
target. Changes to the distribution policy requires unanimous board
consent.

The ratings also reflect the incorporation of the Minority Holding
Companies Methodology as a secondary methodology in the analysis of
GIP Pilot. The methodology describes the general principles for
assessing entities such as GIP Pilot whose activities are limited
to owning non-controlling interests in non-financial corporate
entities. Considerations discussed in the methodology include
subordination risk between the non-controlling owner and the
underlying operating company, the stability of the operating
company's distributions and coverage, and the extent of the
non-controlling owner's influence on the governance of the
operating company.

GIP Pilot has adequate liquidity. The company does not have any
meaningful corporate expenses, with all of its costs related to its
borrowings. The company will have a $200 million revolving credit
facility, which will provide for letters of credit to fund a 6
month debt service reserve account which is capped at $100 million.
Moody's expect the bulk of the remainder of the facility to be used
to fund the growth capex of the pipeline.

The proposed senior secured debt is rated Ba3, the same as the Ba3
CFR, reflecting a single class of debt with no other priority-claim
debt present ahead of the secured debt GIP Pilot's capital
structure. The debt will rank pari pass with the $200 million
committed facility.

Outlook

The stable outlook reflects the stable outlooks of CPHC and CPOC;
the moderate stability of distributions provided by the contracted
and predictable cash flow of the pipelines; the strong influence
over decisions at the pipelines; and Moody's expectations for an
improving leverage profile over the next several years.

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

Factors that could lead to an upgrade

-- An upgrade of CPHC or CPOC

-- Proportionately consolidated FFO/debt sustained above 12%

-- An improvement in the business risk profile for example a
longer average contract life or a material improvement in the
company's counterparties

Factors that could lead to a downgrade

-- A downgrade of CPHC of CPOC

-- Any material changes to the stability of distributions or the
minority owner's influence over decisions

-- Proportionately consolidated FFO/debt sustained below 9%

-- A deterioration in the business risk profile of the operating
assets including for example a shorter average contract life or a
decline in counterparty credit quality

The principal methodology used in these ratings was Natural Gas
Pipelines published in July 2018.

GIP Pilot is a Global Infrastructure Partners backed holding
company that owns a 40% non-operating interest in Columbia
Pipelines Holding Company, LLC.


GLOBAL TEE: Unsecureds to Get 100 Cents on Dollar
-------------------------------------------------
The Global Tee Company, L.L.C., submitted a Combined Disclosure
Statement and Plan of Reorganization under Subchapter V of Chapter
11 (Small Business Reorganization Act).

The Plan Proponent's financial projections show that the Debtor
will have projected disposable income (as defined by Bankruptcy
Code s 1191(d)) for the period described in s 1191(c)(2) of $19,000
per month.  The final Plan payment is expected to be paid on
November 30, 2028.

Non-priority unsecured creditors holding allowed claims will
receive distributions which the proponent of this Plan has valued
at approximately 100 cents on the dollar.  This Plan also provides
for the payment of administrative and priority claims.

Under the Plan, Class 6 Non-priority Unsecured Claims are impaired
by this Plan. The claims in this class will be paid in equal
monthly installments in the estimated total monthly amount of
$13,900.00 until the entire allowed amount of each of the claims is
paid in full.

The Debtor will implement the Plan by continuation of its business
operations and making the payments from its ongoing cash flow.

Counsel for the Debtor:

     Perry G. Pastula, Esq.
     2745 DeHoop Avenue
     SW Wyoming, Michigan 49509
     Tel: (616) 538-6380

A copy of the Combined Disclosure Statement and Plan of
Reorganization dated August 23, 2023, is available at
https://tinyurl.ph/gJFyO from PacerMonitor.com.

                 About The Global Tee Company

The Global Tee Company, L.L.C. is a manufacturer of women's fitness
wearing apparel, which markets the sale of its products through an
online marketing program.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. W.D. Mich. Case No. 23-01205) on May 25,
2023. In the petition signed by Scott Sandberg, member, the Debtor
disclosed up to $500,000 in assets and up to $10 million in
liabilities.

Judge James W. Boyd oversees the case.

Perry Pastula, Esq., at Dunn, Schouten & Snoap, P.C., is the
Debtor's legal counsel.


GOPHER RESOURCE: $510MM Bank Debt Trades at 22% Discount
--------------------------------------------------------
Participations in a syndicated loan under which Gopher Resource LLC
is a borrower were trading in the secondary market around 78.4
cents-on-the-dollar during the week ended Friday, September 8,
2023, according to Bloomberg's Evaluated Pricing service data.

The $510 million facility is a Term loan that is scheduled to
mature on March 6, 2025.  About $466.3 million of the loan is
withdrawn and outstanding.

Gopher Resource, LLC offers lead, plastic, and household waste
recycling services. Gopher Resource serves customers in North
America.



GREENFIRE RESOURCES: Moody's Assigns 'B3' CFR, Outlook Stable
-------------------------------------------------------------
Moody's Investors Service has assigned Greenfire Resources Ltd. a
first-time B3 corporate family rating, a B3-PD probability of
default rating and a B3 to the proposed $300 million senior secured
notes. At the same time Moody's has also assigned an SGL-2
speculative grade liquidity rating. The outlook is stable.

Proceeds from the new notes will be used to refinance existing
indebtedness, fund transaction costs and for general corporate
purposes.

Assignments:

Issuer: Greenfire Resources Ltd.

Corporate Family Rating, Assigned B3

Probability of Default Rating, Assigned B3-PD

Speculative Grade Liquidity Rating, Assigned SGL-2

Senior Secured Regular Bond/Debenture, Assigned B3

Outlook Actions:

Issuer: Greenfire Resources Ltd.

Outlook, Assigned Stable

RATINGS RATIONALE

Greenfire's B3 CFR is supported by: (1) a reserve base
characterized by low operating and capital costs to maintain
production; (2) retained cash flow to debt settling above 30% under
Moody's medium term oil prices; and (3) free cash flow supporting
debt reduction and good liquidity. The rating is constrained by:
(1) a small production and reserve base with expected net bitumen
production rising toward 25,000 bbls/d (net of royalties) in 2024;
(2) exposure to bitumen, which is benchmarked to the historically
volatile Western Canadian heavy oil price; (3) high asset
concentration, with the closely located Hangingstone Expansion and
Hangingstone Demo oil sands projects, limiting operational
flexibility and exposing the company to regional risks; and (4) a
limited operational track record and execution risk around
production growth.

Moody's believes that environmental and social attributes have
limited credit impact but have the potential to pressure ratings
over time. Greenfire has significant exposure to environmental risk
factors primarily driven by carbon transition risk as upstream
companies face increasing pressure over time and as decarbonization
efforts and the transition towards cleaner energy intensify. Social
considerations for Greenfire include high exposure to demographic
and societal pressures and the push for responsible production.
Chief governance considerations include Greenfire's limited
operating and financial policy track record.

Pro-forma for the proposed senior secured notes issuance,
Greenfire's liquidity is good (SGL-2) with sources of about C$150
million against minimal uses. Sources include about C$40 million of
cash (proforma at Q3/23), about C$50 million available under its
reserve based lending facility (364-day term out with any
outstanding balance due September 2025 unless extended), and
Moody's estimate of about C$60 million of free cash flow. Greenfire
does not have financial covenants.

The B3 rating on the company's senior secured notes is in line with
the B3 CFR, reflecting that the notes constitute the preponderance
of Greenfire's capital structure.

The stable outlook reflects Moody's expectation that 2024 credit
metrics will improve through debt reduction and production growth
contributing to higher cash flow.

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

The ratings could be upgraded if Greenfire is able to grow
production and proved developed (PD) reserves while keeping its PD
reserve life at around 4 years. An upgrade would also require that
the company reduce debt, maintain positive free cash flow and that
retained cash flow to debt is sustained above 50%.

The ratings could be downgraded if the company's Hangingstone
assets experience material operating issues that negatively affect
production or unit costs. The ratings could also be downgraded if
free cash flow is negative for a sustained period or the company's
liquidity weakens.

Greenfire is an Alberta based steam-assisted-gravity-drainage
(SAGD) oil sands developer and operator in the Athabasca Oil Sands
region in Northern Alberta. Greenfire currently has two producing
oil sand assets, Hangingstone Expansion and Hangingstone Demo with
a total net design capacity of 33.8 mbbls/d.

The principal methodology used in these ratings was Independent
Exploration and Production published in December 2022.


HART INC: Amends Commercial Credit Secured Claims Pay Details
-------------------------------------------------------------
Hart, Inc., submitted a First Amended Plan of Reorganization for
Small Business dated September 5, 2023.

The Debtor has equity in its assets greater than the total amount
of unsecured claims. Holders of claims will receive 100 cents on
the dollar of said claims.

The Debtor's financial projections show that the Debtor will have
projected monthly disposable income of $11,249.16. The final Plan
payment is expected to be paid on the last day of the 60th month
after the plan is confirmed.

This Plan of Reorganization proposes to pay creditors of the Debtor
from future income it receives from operation of its business.

Non-priority unsecured creditors holding allowed claims will
receive distributions, which the proponent of this Plan has valued
at approximately 100 cents on the dollar. This Plan also provides
for the payment of administrative and priority claims.

Class 3 consists of the Secured Claim of Commercial Credit Group
$221,484.90. Debtor shall be pay this claim in full with interest
at the rate of 9.999% per annum, as follows: $6,000.00 for a total
of 48 months; (beginning the first full month after the Effective
Date of the Plan). Debtor shall also pay all accrued adequate
protection payments to CCG that remain unpaid at confirmation with
the first Plan payment.

Like in the prior iteration of the Plan, unsecured creditors will
be paid 100% of the claims to the extent they are allowed.

The source of funds for the payment pursuant to the Plan will be
Debtor's income from operation of its business.

A full-text copy of the First Amended Plan dated September 5, 2023
is available at https://urlcurt.com/u?l=lIFl8d from
PacerMonitor.com at no charge.

Attorney for Debtor:

     Joseph Chad Brannen, Esq.
     The Brannen Firm LLC
     7147 Jonesboro Road Ste G
     Morrow. GA 30260
     Phone: 770-474-0847  
     Email: chad@brannenlawfirm.com  

                          About Hart Inc.

Hart, Inc., is an underground electrical utility installation and
drill and boring business doing work largely in the Southeastern
United States.  

Hart Inc. filed a Chapter 11 bankruptcy petition (Bankr. N.D. Ga.
Case No. 23-53278) on April 6, 2023.

Joseph Chad Brannen, Esq., of The Brannen Firm LLC, is the Debtor's
counsel.


HELIUS MEDICAL: Regains Compliance With Nasdaq Listing Criteria
---------------------------------------------------------------
Helius Medical Technologies, Inc. announced that on Aug. 31, 2023,
it received formal notice from the Listing Qualifications staff of
The Nasdaq Stock Market LLC indicating that it has evidenced full
compliance with the minimum bid price requirement set forth in
Nasdaq Listing Rule 5550(a)(2) and otherwise satisfies all other
applicable criteria for continued listing on The Nasdaq Capital
Market.  As a result, the listing matter has been closed.

                        About Helius Medical

Helius Medical Technologies, Inc. -- http://www.heliusmedical.com
-- is a neurotech company in the medical device field focused on
neurologic deficits using orally applied technology platform that
amplifies the brain's ability to engage physiologic compensatory
mechanisms and promote neuroplasticity, improving the lives of
people dealing with neurologic diseases.

Helius Medical reported a net loss of $14.07 million for the year
ended Dec. 31, 2022, compared to a net loss of $18.13 million for
the year ended Dec. 31, 2021.  As of March 31, 2023, the Company
had $13.75 million in total assets, $7.69 million in total
liabilities, and $6.07 million in total stockholders' equity.

Minneapolis, Minnesota-based Baker Tilly US, LLP, the Company's
auditor since 2022, issued a "going concern" qualification in its
report dated March 9, 2023, citing that the Company has recurring
losses from operations, an accumulated deficit, expects to incur
losses for the foreseeable future and requires additional working
capital.  These are the reasons that raise substantial doubt about
their ability to continue as a going concern.


HOG FATHERS: Seeks Cash Collateral Access
-----------------------------------------
Hog Father's Old Fashioned BBQ, LLC and Hog Father's Old Fashioned
BBQ of Canonsburg, LLC ask the U.S. Bankruptcy Court for the
Western District of Pennsylvania for authority to use cash
collateral.

There are three UCC Financing Statements filed with the State of
Pennsylvania with respect to the assets of Hogfather's Old
Fashioned BBQ, LLC that have not been terminated.

The three recorded UCC Financing Statements with respect to the
assets of Hogfather's Old Fashioned BBQ, LLC are as follows:

a) File Number 2019110801190 filed on November 8, 2019, 2021 by C T
Corporate System, as representative. The Debtor's counsel believes
that C T Corporate System, as representative is an agent for one of
the Debtor's creditors but no actual creditor is listed on the UCC
Financing Statement and it is impossible to determine which
creditor this UCC Financing Statement refers to.

b) File Number 20221122063837 filed on November 22, 2022 by
Performance Food Group Inc. f/k./a Reinhart Foodservice, which
purports to establish blanket security interest on all lienable
assets of the Debtor.

c) File Number 20230221034106 filed on February 21, 2023 by U.S.
Foods, Inc., which purports to establish blanket security interest
on all lienable assets of the Debtor.

The Pennsylvania Department of Revenue has filed the following
unsatisfied liens for unpaid sales tax:

     a) Filed November 28, 2016 - Allegheny County - GD-16-022653 -
$5,070
     b) Filed May 9, 2022 - Allegheny County - GD-22-100711 -
$4,052
     c) Filed September 19, 2022 - Allegheny County - GD-22-101825
- $128,099
     d) Filed February 15, 2023 - Allegheny County - GD-23-100298 -
$10,885
     e) Filed July 7, 2023 - Allegheny County - GD-23-101012 -
$11,076
     f) Filed August 31, 2023 - Allegheny County - GD-23-101196 -
$13,655

There is one UCC Financing Statements filed with the State of
Pennsylvania with respect to the assets of Hogfather's Old
Fashioned BBQ of Canonsburg, LLC that has not been terminated.

The recorded UCC Financing Statement with respect to the assets of
Hogfather's Old Fashioned BBQ of Canonsburg, LLC is as follows:

     a) File Number 20230221034143 filed on February 21, 2023 by
U.S. Foods, Inc., which purports to establish blanket security
interest on all lienable assets of the Debtor.

The Debtors believe that due to the Chapter 11 filing that it can
operate profitably and generate value to creditors of the estates.


A copy of the motion is available at https://urlcurt.com/u?l=7V4ISV
from PacerMonitor.com.

             About Hog Father's Old Fashioned BBQ, LLC

Hog Father's Old Fashioned BBQ, LLC is a chain of barbeque
restaurants in Western Pennsylvania.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. W.D. Pa. Case No. 23-21872) on September 1,
2023. In the petition signed by Frank Puskarich, managing member,
the Debtor disclosed $500,000 in total assets and $1 million in
total liabilities.

Christopher M. Frye, Esq., at Steidl & Steinberg, P.C., represents
the Debtor as legal counsel.


HORSIN AROUND: Seeks to Hire J. Scott Logan as Legal Counsel
------------------------------------------------------------
Horsin Around Holding Company, LLC seeks approval from the U.S.
Bankruptcy Court for the Maine to employ the Law Offices of J.
Scott Logan, LLC to serve as legal counsel in its Chapter 11 case.

The Law Office of J. Scott Logan will be paid at the rate of $250
per hour.  

The firm received a retainer in the amount of $6,550, of which
$1,738 was used to pay the filing fee.

J. Scott Logan, Esq., disclosed in a court filing that he and his
firm do not have any interest adverse to the Debtor's bankruptcy
estate.

The firm can be reached through:

      J. Scott Logan, Esq.
      LAW OFFICE OF J. SCOTT LOGAN, LLC
      75 Pearl Street
      Portland, ME 04101
      Tel: (207) 699-1314
      Email: scott@southernmainebankruptcy.com

                    About Horsin Around

Horsin Around Holding Company owns a single asset real estate
property that comprises a business building, outdoor space and a
parking lot located at 56 Main Street, Skowhegan, Maine.

The Debtor filed Chapter 11 Petition (Bankr. D. Maine Case No.
23-10131) on July 7, 2023.

J. Scott Logan, Esq. of the Law Office of J. Scott Logan, LLC is
the Debtor's Counsel.


HOUSEWORX INVESTMENTS: Case Summary & Eight Unsecured Creditors
---------------------------------------------------------------
Debtor: Houseworx Investments, LLC
        110 W. 6th Ave Ste 268
        Ellensburg, WA 98926

Business Description: Houseworx owns six properties in Arlington
                      and Camano Island, WA, with a total value
                      of $2.71 million.

Chapter 11 Petition Date: September 6, 2023

Court: United States Bankruptcy Court
       Eastern District of Washington

Case No.: 23-01125

Judge: Hon. Whitman L Holt

Debtor's Counsel: David A. Kazemba, Esq.
                  OVERCAST LAW OFFICES - NCW, PLLC
                  23 S. Wenatchee Ave. Suite 320
                  Wenatchee, WA 98801
                  Tel: (509) 663-5588
                  Fax: (509) 662-5508
                  Email: dkazemba@overcastlaw.com

Total Assets: $3,455,000

Total Liabilities: $3,163,548

The petition was signed by Douglas A. Schreifels as member.

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

https://www.pacermonitor.com/view/YGUG6BA/Houseworx_Investments_LLC__waebke-23-01125__0001.0.pdf?mcid=tGE4TAMA


HTG MOLECULAR: Trustee Hires Ordinary Course Professional
---------------------------------------------------------
Christopher Linscott, as Chapter 11 trustee of HTG Molecular
Diagnostics, Inc., seeks approval from the U.S. Bankruptcy Court
for the District of Delaware to employ non-bankruptcy professionals
used in the ordinary course of business retroactive to the Debtor's
June 5, 2023 petition date.

The Trustee seeks to employ Ernst & Young LLP as an OCP to continue
the  preparation of tax returns for the Debtor.

The Debtor paid EY $47,792 to prepare the 2022 tax returns. EY has
performed much of the work related to the preparation of the 2022
tax returns but has not finalized the returns. The Chapter 11
Trustee does not anticipate EY will need any further funds to
complete the tax returns.

The firm can be reached at:

     Ernst & Young LLP
     Union Square
     841 Broadway, 8th floor
     New York, NY 10003
     Phone: (212) 773-3000

         About HTG Molecular Diagnostics

HTG Molecular Diagnostics, Inc. is a commercial-stage company that
develops and markets a technology platform to facilitate the
routine use of complex molecular profiling.  The Tucson,
Arizona-based Company's HTG Edge and HTG EdgeSeq platforms, which
is comprised of instrumentation, consumables and software
analytics, automates the molecular profiling of genes and gene
activity.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 23-10732) on June 5, 2023.
In the petition signed by Shaun McMeans, senior vice president and
chief financial officer, the Debtor disclosed up to $10 million in
both assets and liabilities.

Judge Kate Sickles oversees the case.

Frederick B. Rosner, Esq., at The Rosner Law Group, LLC and MCA
Financial Group, Ltd. serve as the Debtor's legal counsel and
financial advisor, respectively.

Silicon Valley Bank, as lender, is represented by Alex Rheaume,
Esq., at Morrison & Foerster LLP.

On June 22, 2023, the U.S. Trustee for Regions 3 and 9 appointed an
official committee to represent unsecured creditors in the Debtor's
Chapter 11 case. Mesch, Clark & Rothschild, P.C. and Womble Bond
Dickinson (US), LLP serve as the committee's bankruptcy counsel and
Delaware counsel, respectively.


INDIE SALON: Mark Sharf Named Subchapter V Trustee
--------------------------------------------------
The U.S. Trustee for Region 16 appointed Mark Sharf, Esq., a
practicing attorney in Los Angeles, as Subchapter V trustee for
Indie Salon, Inc.

Mr. Sharf will charge $660 per hour for his services as Subchapter
V trustee, plus $150 per hour for his Trustee Administrator and
will seek reimbursement for work-related expenses incurred.

Mr. Sharf declared that he is a disinterested person according to
Section 101(14) of the Bankruptcy Code.

The Subchapter V trustee can be reached at:

     Mark Sharf, Esq.
     6080 Center Drive, 6th Floor
     Los Angeles, CA 90045
     Telephone: (323) 612-0202
     Email: mark@sharflaw.com

                         About Indie Salon

Indie Salon, Inc. filed Chapter 11 petition (Bankr. C.D. Calif.
Case No. 23-10747) on Aug. 23, 2023, with $100,001 to $500,000 in
assets and $500,001 to $1 million in liabilities.

Judge Ronald A. Clifford III oversees the case.

Reed H. Olmstead, Esq., at the Law Offices of Reed H. Olmstead
represents the Debtor as bankruptcy counsel.


INNOVATIVE DESIGNS: Delays Form 10-Q for Period Ended July 31
-------------------------------------------------------------
Innovative Designs, Inc. filed a Form 12b-25 with the Securities
and Exchange Commission in connection with the delay in the filing
of its Quarterly Report on Form 10-Q for the period ended July 31,
2023.

"Our outside auditors have not completed their work in connection
with compiling the financial information that is a part of the Form
10-Q.  It is expected that the work will be completed within the
extended filing period," Innovative said.

                       About Innovative Designs

Headquartered in Pittsburgh, Pennsylvania, Innovative Designs, Inc.
operates in two separate business segments: cold weather clothing
and a house wrap for the building construction industry.  Both of
its segment lines use products made from INSULTEX, which is a
low-density foamed polyethylene with buoyancy, scent block, and
thermal resistant properties.  The Company has a license agreement
directly with the owner of the INSULTEX Technology.

Innovative Designs reported a net loss of $225,489 for the year
ended Oct. 31, 2022, compared to a net loss of $322,732 for the
year ended Oct. 31, 2021.  As of Oct. 31, 2022, the Company had
$1.48 million in total assets, $474,159 in total liabilities, and
$1 million in total stockholders' equity.

Kennett Square, PA-based RW Group, LLC, the Company's auditor since
2021, issued a "going concern" qualification in its report dated
Feb. 13, 2023, citing that the Company had net losses and negative
cash flows from operations for the years ended Oct. 31, 2022 and
2021 and an accumulated deficit at Oct. 31, 2022 and 2021.  These
factors raise substantial doubt about the Company's ability to
continue as a going concern for one year from the issuance date of
these financial statements.


INNOVATIVE GENOMICS: Maria Yip Named Subchapter V Trustee
---------------------------------------------------------
The U.S. Trustee for Region 21 appointed Maria Yip, a certified
public accountant and managing partner at Yip Associates, as
Subchapter V trustee for Innovative Genomics, LLC.

Ms. Yip 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. Yip declared that she is a disinterested person according to
Section 101(14) of the Bankruptcy Code.

The Subchapter V trustee can be reached at:

     Maria M. Yip
     2 S. Biscayne Blvd., Suite 2690
     Miami, FL 33131
     Tel: (305) 569-0550
     Email: myip@yipcpa.com

                     About Innovative Genomics

Innovative Genomics, LLC owns and operates a medical and diagnostic
laboratory in Miami, Fla.

The Debtor filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. S.D. Fla. Case No. 23-16852) on Aug. 28,
2023, with $1 million to $10 million in both assets and
liabilities. Enrique Perez-Paris, president, signed the petition.

Judge Robert A. Mark oversees the case.

R. Scott Shuker, Esq., at Shuker & Dorris, P.A. represents the
Debtor as legal counsel.


INTEGRATED CARE: Seeks Access to TD Bank's Cash Collateral
----------------------------------------------------------
Integrated Care Concepts and Consultation, LLC asks the U.S.
Bankruptcy Court for the District of New Jersey for authority to
use cash collateral of TD Bank, NA and provide adequate
protection.

The Debtor experienced several factors that necessitated the need
to file this Chapter II bankruptcy petition and restructure its
debts through operations. Specifically, (i) because of the COVID-19
pandemic, it took longer than anticipated to obtain the requisite
state licensing to operate the Tinton Falls location, causing ICCC
to be limited to out-of-network clients; (ii) an affiliated entity
has been in an out-of-court dispute with Horizon Blue Cross Blue
Shield of New Jersey related to Horizon's failure to timely remit
payment for services provided to clients owing approximately
$450,000, which are due to the Debtor; and (iii) due to the
high-interest rate on the loans provided to ICCC by lenders (IDEA
247,Inc. and Fora Financial Advance, LLC). As a result, the Debtor
suffered financially.

The Debtor's primary assets are office furniture, office fixtures,
and office equipment (including all computer equipment and
communication systems equipment and software) value of
approximately $146,500 and outstanding accounts receivables
totaling approximately $362,433, as well as funds held in its
accounts currently totaling $24,245.

TD Bank is the Debtor's primary secured lender having two recorded
UCC-1 filings against the Debtor's assets.

On December 10, 2021. the Debtor borrowed $300,000 from TD Bank as
evidenced by a Note and Financing Agreement which set forth the
terms upon which the Loan was to be repaid pursuant to an
amortization schedule attached to the Note.

On December 10, 2021, the Debtor borrowed $231,000 from TD Bank as
evidence by a Note and Financing Agreement which set forth the
terms upon which the Loan was to be repaid pursuant to an
amortization scheduled attached to the note.

As further security for the Loan(s), the Debtor entered into a
security agreement with TD Bank granting the lender a security
interest "mall of Debtor's "collateral" which includes all of the
Debtor's personal property, including all accounts, accounts.

On December 14,2021, and December 16, 2021, TD Bank recorded two
UCC-1 Financing Statements notifying third parties of its alleged
lien against the assets of "Integrated Care Concepts and
Consultation. LLC."

The Debtor currently owes TD Bank approximately $460,000.

TD Bank is adequately protected by the Debtor's proposal to provide
an adequate protection payment of $2,000 for the month for
September and then $2,500 a month, which will protect TD Bank
against any potential decrease in the value of its collateral.

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

     About Integrated Care Concepts and Consultation, L.L.C.

Integrated Care Concepts and Consultation, L.L.C. offers mental
health treatment for individuals, adolescents, children, couples,
and families. The Debtor sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D. N.J. Case No. 23-17773) on
September 5, 2023. In the petition signed by Seth Arkush, managing
partner, the Debtor disclosed $611,080 in total assets and
$1,604,180 in total liabilities.

Donald F. Campbell, Jr., Esq., at Giordano, Halleran, Ciesla, P.C.,
represents the Debtor as legal counsel.


INTOUCH FOOTWEAR: Seeks Cash Collateral Access
----------------------------------------------
Intouch Footwear, Inc. asks the U.S. Bankruptcy Court for the
Central District of California, Los Angeles Division, for authority
to use cash collateral and provide adequate protection.

The cash collateral consists of the Debtor's assets, receivables,
and any other property of  the Debtor.

Prior to the filing of the case, the Debtor was facing certain
financial difficulties and a breach of contract lawsuit from one of
its former customers JW Retail Group, LLC.

The Debtor's plan was to enter chapter 11, to restructure and
reorganize its affairs, liquidate disputed claims against it, and
repay its creditors with a structured repayment plan. The Debtor
filed for Chapter 11 bankruptcy on September 1, 2023. Since then it
has  not used its cash collateral.

There is a security interest on the Collateral held by JP Morgan
Chase Bank, N.A. by virtue of a secured lain agreement with an
outstanding balance of approximately $487,005. and the United
states Small Business Administration by virtue of a secured loan
agreement in the original amount of $2 million. The servicing
payments on the JPMC loan are $3,892 per month and the servicing
payments on the SBA Loan are $9,928 per month.

The Debtor proposes to continue making the regular monthly payments
to the secured creditors during the pendency of the case, and
throughout the use of the cash collateral.

As additional adequate protection, the Debtor will include the
following provision in the cash collateral order:

1. The Debtors will provide JMPC and SBA all interim statements and
operating reports required to be submitted to the Office of the
United States Trustee, within 21 days after the end of each monthly
period after the Petition Date.

2. Debtors will make adequate protection payments to JPMC and SBA,
pursuant to 11 U.S.C. 362(d)(3) as follows: payment to JPMC in the
amount of $3,892 per month and servicing payments to SBA in the
amount of $9,928 per month. These amounts are equal to pre-petition
contractual payments are contractual prepetition payments that were
due on these.

3. Debtor will continue maintaining its general commercial
insurance.

4. Additionally, JPMC's and SBA's interest will be adequately
protected by the maintenance and preservation of the cash
collateral that is already stored in the Debtor's warehouses and
the Debtor's ongoing business operations.

5. The foregoing provision, coupled with the value that will be
preserved and generated through the continued operation of the
Debtor will provide adequate protection required under 11 U.S.C.
Section 363.

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

                  About Intouch Footwear, Inc.

Intouch Footwear, Inc. is a corporation engaged in wholesale
importation and sale of footwear. The Debtor's business model
involves sourcing and importing footwear from Southeast Asia,
storing the inventory in its leased warehouses and selling the
imported items to various retailers.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. C.D. Cal. Case No. 23-15730) on September
1, 2023. In the petition signed by John C. Lay, chief executive
officer, the Debtor disclosed $2,388,947 in total assets and
$3,924,149 in total liabilities.

Judge Barry Russell oversees the case.

Vahe Khojayan, Esq., at YK Law, LLP, represents the Debtor as legal
counsel.


IRIDIUM COMMUNICATIONS: Fitch Gives BB LongTerm IDR, Outlook Stable
-------------------------------------------------------------------
Fitch Ratings has assigned first-time Long-Term Issuer Default
Ratings (IDRs) of 'BB' to Iridium Communications Inc. (Iridium) and
Iridium Satellite LLC. The Rating Outlook is Stable. Fitch has also
assigned a 'BBB-'/'RR1' rating to the proposed $1,500 million
senior secured term loan and the new $100 million secured revolver,
issued by Iridium Satellite LLC. The new term loan and revolver
will be used to refinance the existing term loan and revolver,
helping push maturities out to 2028 for the revolver and 2030 for
the term loan.

Iridium's IDR is supported by its strong margins, high barriers to
entry, recurring revenue stream, and lower capital intensity
following the completion of its second-generation satellite
constellation. Concerns include Iridium's competitive operating
environment, with new low earth orbit (LEO) systems being deployed
that may compete with Iridium in certain market niches.

KEY RATING DRIVERS

Moderate Delevering Prospects: Iridium's Fitch-calculated EBITDA
leverage was 3.4x as of June 30, 2023. EBITDA leverage has
gradually declined to 3.5x at YE2022 from 5.6x in 2019 supported by
consistent FCF generation averaging near $250 million during this
period. Fitch expects the company to continue to delever and
expects EBITDA leverage at 3.3x at YE 2023, declining further to
2.9x by 2025.

Iridium has a net leverage target of 2.5x to 3.5x. The company
initiated a share repurchase program in early 2021 that is largely
funded from FCF. Beginning in 2023, the company also started paying
dividends. Fitch expects the company will continue to utilize its
surplus FCF to fund shareholder returns during the forecast, while
maintaining net leverage in its target range. With current the
constellation completed in 2019, capex over the remainder of the
decade is expected to average about $50 million-$60 million
annually (roughly $75 million in 2023), a fraction of peak levels
of around $400 million annually from 2016-2018.

Solid Revenue Growth Prospects: Iridium's revenues grew 17% in
2022, and just over 5% in 2021. Impacts to certain verticals such
as aviation and maritime were offset by growth in IoT such as
personal communications as well as steady growth in L-band
broadband. New relationships and product launches are expected to
support further growth. The company reiterated its 2023 service
revenue growth outlook to a range of 9% to 11%. The new IoT
mid-band transceiver is expected to be more broadly adopted by its
partner ecosystem, and the new transceiver is also expected to
accelerate growth in the commercial voice and data business.

In January 2023, the company entered into an agreement with
Qualcomm Technologies to enable satellite messaging and emergency
services in smartphones powered by Qualcomm's Snapdragon Mobile
Platforms. Given the early stage of development, incremental
revenues from this product have not been included in the forecast.

Competition: Iridium's existing competitors consist of Inmarsat,
Globalstar, ORBCOMM and Thuraya Telecommunications Co. There are
some differences among these competitors, as Inmarsat and Thuraya
operate geosynchronous (GEO) satellites, which are subject to
higher latency while the remaining two operate LEO constellations,
like Iridium. The competitors' LEO constellations' architectures
are different such that each satellite communicates with ground
infrastructure, which in some cases can limit coverage in extreme
latitudes or over the ocean. All but ORBCOMM operate with L-band
spectrum.

In the future, the company will face competition in certain aspects
of its business through new LEO systems employing much higher
frequency bands. Fitch believes Iridium's LEO constellation and the
benefits of L-band spectrum for certain applications will be a
mitigant. These benefits include its lower susceptibility to rain
fade versus spectrum in the Ka- and Ku-bands, and suitability for
mobility applications where small form factor antennas are
desirable, such as satellite phones, personal devices from
value-added manufacturers (such as Garmin) and for low- to
mid-bandwidth IoT applications. The benefits of L-band spectrum
make it ideal for safety applications. Other planned LEO
constellations will be more ideally suited for data intensive
applications but are more susceptible to rain fade and will have
larger antennas.

Capex in a Down-Cycle: The company completed the replacement of its
first generation of satellites with the Iridium Next platform in
2019, and capex needs over the coming years are expected to be
nominal, with the company expecting up to 10 years of relatively
low capex until 2030.

Capital allocation: With the second-generation satellite
constellation in place, the company expects capital allocation to
focus on shareholder returns, with share repurchases sized within a
level to operate within its publicly indicated net leverage target
of 2.5x to 3.5x. Management has consistently articulated that it
believes there is a path to meaningful shareholder returns through
2025 in the absence of M&A.

Revenue Concentration: The U.S. government has been Iridium's
largest customer and generated nearly $150 million of revenue, or
21% of total revenue, in 2022. The company operates under a
multi-year, fixed price contract to provide satellite airtime
services for an unlimited number of Department of Defense and other
federal government subscribers. The contract has a total value of
$738.5 million over seven years through September 2026. Iridium may
also provide additional services under separate arrangements for
additional fees. No other commercial customers accounted for more
than 10% of the company's revenue.

Asset Risk: Satellites are subject to periodic failure of their
various components, although satellites in most cases have built-in
redundant systems. Iridium's constellation consists of 66
operational satellites plus 14 in-orbit spares. The in-orbit spares
ameliorate the risk from potential failed satellites, although
there could be a temporary disruption in service while the
replacement satellite maneuvers into position.

DERIVATION SUMMARY

Iridium Communications differs slightly from Intelsat (Intelsat
Jackson Holdings has an IDR of B+/Positive), Viasat (BB-/RWN), and
Telesat (NR) as these companies have Fixed Satellite Services
offerings (Telesat is currently implementing a LEO satellite
constellation). Space Exploration Technologies (NR) currently has a
LEO constellation offering broadband services but will operate in
Ka and Ku bands. All satellite peers have a cyclically
capital-intensive business model, in that they experience
investment periods of elevated capex and capex holidays, similar to
what Iridium expects to experience through 2030.

The company is smaller than Viasat, Intelsat, and Space Exploration
Technologies, and similar in size to Telesat. Margins are strong
across the industry with Iridium and Intelsat having higher
margins. Viasat has slightly lower margins due to its vertically
integrated nature and focus on providing services directly to
consumers. Telesat's margins are the strongest of the peer group,
just shy of 80%, although they are expected to decline as costs
increase associated with the development of their LEO constellation
build.

Iridium separates itself from peers in terms of cash flow
generation, with approximately 20% (CFO-capex)/debt, compared with
Viasat, Telesat, and Intelsat, which are all cash flow negative in
their most recently reported fiscal year end. Iridium's EBITDA
leverage of 3.4x compares favorably with Viasat, Telesat, and
Intelsat who have higher leverage.

KEY ASSUMPTIONS

- Fitch assumes 2023 revenues grow in the high single digits, with
revenue growth declining to near mid-single digits in subsequent
years;

- Fitch calculated EBITDA margins are expected in the upper 50%s
range;

- Capex is projected to be $76 million in 2023, and declines to $60
million annually in 2024-2026;

- Cash taxes are expected to be negligible through 2024;

- Fitch assumed share repurchases of less than $200 million in
2023. Share repurchases are assumed to increase over the forecast
annually;

- Fitch expects the company to maintain its net leverage within its
publicly stated target range of 2.5x to 3.5x.

RATING SENSITIVITIES

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

- Increased scale (more than $750 million of EBITDA) combined with
increased diversification of products and customers;

- EBITDA leverage sustained below 3.0x while prudently managing the
long-term capex spend.

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

- Competitive pressures leading to significant revenue declines,
customer losses or significant EBITDA margin erosion;

- EBITDA leverage sustained above 4.0x due to a significant
transaction, a capex-heavy business initiative, or aggressive
financial policy.

LIQUIDITY AND DEBT STRUCTURE

Sufficient Liquidity: Fitch believes Iridium has sufficient
liquidity supported by $103.5 million of cash balances and full
availability under its $100 million revolving facility as of June
30, 2023. Liquidity is further augmented by consistent FCF
generation supported by low capex until 2030, after completion of
the second-generation satellite constellation in 2019. Fitch
expects FCF averaging near $225 million annually over its four-year
forecast period.

Debt: The company's debt structure includes the proposed $1.5
billion senior secured term loan and the new $100 million secured
revolving facility. The new credit facility will be used to
refinance the existing term loan and revolver. The new revolver has
a five-year maturity, while the new term loan has a seven-year
maturity. The revolver has a springing net leverage covenant of
6.25x if utilization is over 35%.

ISSUER PROFILE

Iridium is a global mobile satellite services (MSS) provider of
communications services that uses a unique L-band satellite
network. The company provides voice and data services in regions
where terrestrial networks are limited or do not exist, including
areas such as the ocean or polar regions. The network consists of
66 satellites with 14 in-orbit spares and related ground
infrastructure. The satellites are in a low earth orbit (LEO)
configuration.

ESG CONSIDERATIONS

The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit-neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.

   Entity/Debt             Rating             Recovery   
   -----------             ------             --------   
Iridium
Communications Inc.   LT IDR BB   New Rating

Iridium Satellite
LLC                   LT IDR BB   New Rating

   senior secured     LT     BBB- New Rating     RR1


IRIDIUM SATELLITE: Moody's Rates New Secured First Lien Loans 'Ba3'
-------------------------------------------------------------------
Moody's Investors Service assigned Ba3 ratings to Iridium Satellite
LLC's new senior secured first lien term loan and new senior
secured first lien revolving credit facility. The company's Ba3
corporate family rating, Ba3-PD probability of default rating,
SGL-1 speculative grade liquidity rating and stable outlook remain
unchanged.

Iridium plans to issue a new $1.5 billion term loan and a new $100
million revolving credit facility. Proceeds from the new term loan
will be used to refinance the existing term loan B. Moody's will
withdraw the Ba3 ratings on the company's existing term loan B and
revolving credit facility when the transaction closes.

Assignments:

Issuer: Iridium Satellite LLC

Senior Secured Bank Credit Facility, Assigned Ba3

RATINGS RATIONALE

Iridium's Ba3 CFR benefits from: (1) its good market position in
the mobile satellite services industry, supported by its ownership
of L-band spectrum and a low earth orbit (LEO) satellite
constellation; (2) good growth prospects, aided by rising demand
for mobile voice and data satellite services, especially in the
growing Internet of Things (IoT) market; (3) high recurring revenue
(around 80%) that is generated from an installed base of about 2.14
million subscribers globally and a fixed-price contract with the US
government agencies; (4) declining Debt/EBITDA, which provides
cushion in the rating for unforeseen business circumstances given
global macroeconomic headwinds, while Moody's expects the metric to
settle at 3.5x by the end of 2024, supported by EBITDA growth (was
3.9x at LTM Q2/2023); (5) strong adjusted EBITDA margins (around
50%); and (6) very good liquidity, which is boosted by good free
cash flow generation. The rating is constrained by: (1) its small
scale relative to rated peers (revenue of $776 million at LTM
Q2/2023); (2) inflationary effects on operating expenses and
equipment costs; and (3) increasing shareholder focus by way of
share repurchases and recently instituted dividend policy, which
will consume deleveraging capacity.

Iridium will have one class of secured debt when the transaction
closes - $100 million revolving credit facility expiring in 2028
and $1.5 billion term loan due 2030 - both facilities are rated
Ba3. The facilities will be secured by substantially all material
owned tangible and intangible assets of the company and its
subsidiaries. Moody's rates both facilities Ba3, which is the same
as the CFR, because they represent a single class of debt and
comprise the bulk of the debt capital.

As proposed, the new secured first lien credit facilities (revolver
and term loan) are expected to provide covenant flexibility that,
if utilized, could negatively impact creditors. Notable terms
include the following: (1) incremental debt capacity up to: (a) the
greater of $443 million and 100% of adjusted consolidated EBITDA
for the trailing four quarter period, plus the available capacity
under the general debt basket, plus (b) an unlimited amount up to
4.00x first lien net leverage (on a pari passu basis); Amounts up
to the greater of $221.5 million and 50% of adjusted consolidated
EBITDA may be incurred with an earlier maturity date than the new
first lien term loan; (2) there are no express "blocker" provisions
which prohibit the transfer of specified assets to unrestricted
subsidiaries; such transfers are permitted subject to carve-out
capacity and other conditions; (3) Non-wholly-owned subsidiaries
are not required to provide guarantees; dividends or transfers
resulting in partial ownership of subsidiary guarantors could
jeopardize guarantees subject to protective provisions which only
permit guarantee releases if the transferee is a non-affiliate and
holdings would have been permitted to invest in the remaining
portion of such subsidiary, as is deemed to have made such
investment; and (4) there are no express protective provisions
prohibiting an up-tiering transaction. The above are proposed terms
and the final terms of the credit agreement may be materially
different.

Iridium has very good liquidity (SGL-1) through the next twelve
months to August 31, 2024. Sources approximate $400 million while
it will have $15 million of term loan amortization in this time
frame. The company's liquidity is supported by cash of $103 million
at June 30, 2023, full availability under its new $100 million
revolving credit facility that expires in 2028 and Moody's expected
free cash flow of at least $200 million in the next twelve months.
The new credit facility will be subject to a springing financial
maintenance covenant of 6.25x net leverage when it is more than 35%
drawn. Moody's does not expect the covenant to be applicable in the
next twelve months. Iridium has limited flexibility to generate
liquidity from asset sales, with a fully secured capital structure
and asset mix that is not easy to carve-out for sale given the
nature of its business.

The outlook is stable because Moody's expects the company to
continue increasing its revenue and EBITDA, maintain at least good
liquidity, and drive down Debt/EBITDA to 3.5x by the end of 2024.

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

The ratings could be upgraded if the company continues to increase
its scale and maintain its good market position while sustaining
Debt/EBITDA below 3x (3.9x for LTM Q2/2023) and free cash flow to
debt above 15% (14.5% for LTM Q2/2023).

The ratings could be downgraded if there is deterioration in the
company's scale or market position or if it sustains Debt/EBITDA
above 4.5x (3.9x for LTM Q2/2023) and free cash flow to debt below
7.5% (14.5% for LTM Q2/2023).

The principal methodology used in these ratings was Communications
Infrastructure published in February 2022.

Iridium, headquartered in McLean, Virginia, is a provider of
mission critical and highly reliable voice and data communication
services anywhere on earth to commercial and government customers
using its 66 cross-linked L-band LEO satellite constellation, with
14 in-orbit spares for redundancy.


JBP HOLDINGS: Seeks to Hire Whitestone PC as Legal Counsel
----------------------------------------------------------
JBP Holdings, LLC seeks approval from the U.S. Bankruptcy Court for
the Northern District of Illinois to hire Whitestone, P.C. as its
counsel.

The firm's services include:

     a. render legal advice with respect to the powers and duties
of the Debtor-in-Possession;

     b. negotiate, draft, and pursue all documentation necessary in
this case;

     c. prepare, on behalf of the Debtor, all applications,
necessary pleadings, orders, reports, and other legal papers with
respect to this proceeding, and to render other legal services as
may be necessary;

     d. perform necessary legal work regarding approval of the
disclosure statement(s) and plan;

     e. appear in court and in protecting the interests of the
Debtor before the Court;

     f. assist with any disposition of the Debtor’s assets, by
sale or otherwise;

     g. attend all meetings and negotiating with representatives of
creditors, the United States Trustee, and other
parties-in-interest;

     h. provide legal advice regarding bankruptcy law, corporate
law, corporate governance, transactional, tax, labor, litigation,
and other issues to the Debtor in connection with the Debtor’s
ongoing business operations; and

     i. perform other necessary legal work as required for this
case.

Laxmi Sarathy, Esq., managing attorney at Whitestone, P.C.,
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:

     Laxmi P. Sarathy, Esq.
     WHITESTONE, P.C.
     17W775 Butterfield Rd, Suite 114,
     Oakbrook Terrace, IL 60181
     Tel: (312) 674-7965
     Fax: (312) 873-4774
     Email: Lsarathy@whitestonelawgroup.com

                   About JBP Holdings

JBP Holdings, LLC owns real estate located at 1925 Fairfield Ave,
Chicago, Ill.  According to American tech real-estate marketplace
company Zillow, the property is valued at $560,000.

JBP Holdings filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. N.D. Ill. Case No. 23-08939) on July 10,
2023, with $560,000 in assets and $28,100,000 in liabilities. Kraig
Danielson, manager, signed the petition.

Judge Jacqueline P. Cox oversees the case.

Laxmi P. Sarathy, Esq., at Whitestone, P.C. is the Debtor's legal
counsel.


JO-ANN STORES: $675MM Bank Debt Trades at 64% Discount
------------------------------------------------------
Participations in a syndicated loan under which Jo-Ann Stores LLC
is a borrower were trading in the secondary market around 36.5
cents-on-the-dollar during the week ended Friday, September 8,
2023, according to Bloomberg's Evaluated Pricing service data.

The $675 million facility is a Term loan that is scheduled to
mature on June 30, 2028.  About $663.2 million of the loan is
withdrawn and outstanding.

Jo-Ann Stores, LLC retails fabric and craft products. The Company
offers apparel, home decorating fabrics, notions, seasonal
accessories, floral, and framing products.



JOHNSON SCOTT: Taps William Johnson as Bankruptcy Attorney
----------------------------------------------------------
Johnson Scott Property Management, LLC, seeks approval from the
U.S. Bankruptcy Court for the District of Maryland to hire William
Johnson, Jr., Esq., a practicing attorney in Greenbelt, Md., to
handle its Chapter 11 case.

Mr. Johnson's services include:

     (1) General advice concerning compliance with the requirements
of Chapter 11;

     (2) Preparation of any necessary amendments to the Debtor's
schedules, statement of financial affairs, and related documents;

     (3) Representation of the Debtor in all contested matters;

     (4) Representation in any related matters in other courts;

     (5) Advice concerning the structure of a Chapter 11 plan and
any required amendments thereto;

     (6) Advice concerning the feasibility of confirmation of a
Chapter 11 plan and representation in connection with the
confirmation process;

     (7) Liaison, consultation, and where appropriate, negotiation
with creditors and other parties involved in the Debtor's
bankruptcy case;

     (8) Review of relevant financial information;

     (9) Review of claims with a view to determining which claims
are allowable and in what amounts;

    (10) Prosecution of claims objections, as appropriate;

    (11) Representation at the Section 341 meeting of creditors,
hearings and status conferences in court; and

    (12) Other necessary legal services.

Mr. Johnson will be paid an hourly fee of $450 and will be
reimbursed for work-related expenses incurred.

The initial retainer fee received by the attorney is $7,500.

Mr. Johnson disclosed in a court filing that he does not have a
connection with the Debtor.

Mr. Johnson holds office at:

     William C. Johnson, Jr., Esq.
     6305 Ivy Lane, Suite 630
     Greenbelt, MD 20770
     Phone: (301) 477-3450 / (202) 525-2958
     Fax: (301) 477-4813
     Email: William@JohnsonLG.Law

             About Johnson Scott Property Management

Johnson Scott Property Management, LLC filed Chapter 11 petition
(Bankr. D. Md. Case No. 23-15962) on Aug. 23, 2023, with $100,001
to $500,000 in both assets and liabilities.

Judge Michelle M. Harner oversees the case.

William C. Johnson, Jr., Esq., is the Debtor's bankruptcy counsel.


JUMBA LLC: Cunningham Says Objections Has Not Been Resolved
-----------------------------------------------------------
Pamela Cunningham filed a supplemental objection to the First
Amended Disclosure Statement for the Chapter 11 Plan of
Reorganization of The Jumba, LLC filed by The Jumba, LLC.

On January 31, 2023, Mrs. Cunningham timely filed a secured proof
of claim against the Debtor for amounts she is owed under a
promissory note and deed of trust.

On July 12, 2023, the Court entered its Order Regarding Debtor's
Objection to Amount of Proof of Claim Number 6 filed by Pamela
Cunningham. Under this order, Cunningham's Proof of Claim Number 6
was deemed allowed in the secured amount of $162,509.48 as of July
5, 2023 with interest continuing to accrue on all unpaid amounts at
the annual rate of 18% until paid in full.

Cunningham's Original Objection to the Disclosure Statement has not
been resolved.

The Disclosure Statement and Plan attached to and incorporated
therein remain deficient and should not be approved until
Cunningham's concerns are corrected.

The Debtor needs to abide by its obligations under the Code and
file an accurate, clear Disclosure Statement in compliance with
section 1125 so the Court and all creditors can clearly ascertain
what is intended under the Plan and what the treatment of claims
will be. The current version of the Amended Disclosure Statement
falls short in multiple respects.

Cunningham echoes the concerns and comments of C&G Realty expressed
in its comment to the Amended Disclosure Statement. Cunningham also
has incurred post-petition attorney's fees that are required to be
paid under section 506(b) and need to be treated under the Plan.
From the Petition Date of September 23, 2022 through July 31, 2023,
Cunningham has incurred not less than approximately $50,000 in
attorney's fees and costs related to her claim which are
recoverable under the promissory note. Cunningham anticipates
timely filing an application for approval of such fees and expenses
under section 506(b).

Counsel for Pamela Cunningham:

     H. Brandon Jones, Esq.
     Bryan C. Assink, Esq.
     BONDS ELLIS EPPICH SCHAFER JONES LLP
     420 Throckmorton Street, Suite 1000
     Fort Worth, TX 76102
     Telephone: (817) 405-6900
     Facsimile: (817) 405-6902
     E-mail: brandon@bondsellis.com
             bryan.assink@bondsellis.com

                        About Jumba LLC

The Jumba LLC was originally formed by Andrea Vernon in May of 2017
as a land acquisition and development company.

The Jumba LLC sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Tex. Case No. 22-31740) on Sept. 23,
2022.  In the petition filed by Andrea Vernon, as manager, the
Debtor reported assets between $10 million and $50 million and
liabilities between $1 million and $10 million.

The Debtor is represented by Lyndel Anne Vargas of Cavazos
Hendricks Poirot, P.C.


KDJJ ENTERPRISES: Case Summary & Five Unsecured Creditors
---------------------------------------------------------
Debtor: KDJJ Enterprises, Inc.
        850 W Cottonwood Lane
        Casa Grande, AZ 85122

Chapter 11 Petition Date: September 8, 2023

Court: United States Bankruptcy Court
       District of Arizona

Case No.: 23-06269

Judge: Hon. Scott H. Gan

Debtor's Counsel: Jacob R. Goodman, Esq.
                  GOODMAN LAW PRACTICE PLC DBA ROCK LAW FIRM
                  PO Box 28365
                  Tempe, AZ 85285-8365
                  Tel: (480) 605-4409
                  Fax: (602) 491-2062
                  Email: Jacob@rocklawaz.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by David A Ellis as president/CEO.

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

https://www.pacermonitor.com/view/XB7BRII/KDJJ_ENTERPRISES_INC__azbke-23-06269__0001.0.pdf?mcid=tGE4TAMA


KEANE GROUP: Moody's Withdraws 'B2' CFR Following Debt Repayment
----------------------------------------------------------------
Moody's Investors Service withdrew all of Keane Group Holdings, LLC
(NexTier)'s ratings, including its B2 Corporate Family Rating,
B2-PD Probability of Default Rating, and B3 senior secured term
loan B rating. The outlook was changed to rating withdrawn from
rating under review. These withdrawals follow repayment of its term
loan debt in conjunction with the closing of the acquisition of
NexTier by Patterson-UTI Energy, Inc. (Patterson-UTI, Baa3
stable).

Withdrawals:

Issuer: Keane Group Holdings, LLC

Corporate Family Rating, Withdrawn, previously rated B2

Probability of Default Rating, Withdrawn, previously rated B2-PD

Speculative Grade Liquidity Rating, Withdrawn, previously rated
SGL-1

Backed Senior Secured Term Loan B, Withdrawn, previously rated B3

Outlook Actions:

Issuer: Keane Group Holdings, LLC

Outlook, Changed To Rating Withdrawn From Rating Under Review

RATINGS RATIONALE

NexTier has fully repaid its outstanding term loan debt in
conjunction with the closing of the company's acquisition by
Patterson-UTI. All of NexTier's ratings have been withdrawn since
all of its rated debt is no longer outstanding.

Keane Group Holdings, LLC (NexTier), headquartered in Houston,
Texas, is a provider of oilfield services, primarily pressure
pumping, to oil and gas producers. The company is now a wholly
owned subsidiary of Patterson-UTI.


KEITH STRANGE: Unsecureds Will Get 100% of Claims in 60 Months
--------------------------------------------------------------
Keith Strange LLC filed with the U.S. Bankruptcy Court for the
Eastern District of Arkansas a Combined Disclosure Statement and
Small Business Plan of Reorganization dated August 31, 2023.

Keith Strange, LLC, does business as Arkansas Solutions Group and
is a computer consulting business that performs services for
airlines, government agencies, and other clients and offer 20
different products and portfolio services.

The Debtor is owned by Keith Strange.  He owns 100% of the
membership interest of Debtor.  Keith Strange is the President and
operates computer consulting business full-time.  Keith Strange is
the day-to-day manager of the Debtor when the bankruptcy was filed
on February 9, 2023. Keith Strange will retain his ownership
interests under this proposed Plan. Keith Strange will continue to
operate the company.

In March of 2020 Debtor's income was drastically reduced by the
effect of the COVID-19 Public Health Emergency.  Many of its
clients were airlines and the airlines cancelled many of Debtor's
contracts. Debtor was forced to let all its employees go and
streamline its operation while correspondingly taking on debt to
finance its operations. The Debtor found it could not pay all of
its debts as they came due and determined it was in its best
interest to reorganize its debt via Chapter 11.

The Plan provides for 9 classes of claims; to wit: 1 class of
Administrative and Priority Tax Claims, 5 classes of secured
claims; 2 classes of general unsecured claims; and 1 class of
equity security holders. Creditors holding allowed claims will
receive distributions, which the proponent of this Plan has valued
at approximately $1.00 on the dollar, or 100%. This Plan also
provides for the payment of certain administrative expenses.

The Debtor's Pro Forma shows that the Debtor will have an aggregate
annual average net cash flow, over the life of the Plan, after
paying operating expenses and post-confirmation taxes, of
$29,755.38 The final Plan payment is expected to be paid on
November 1, 2028.

General unsecured creditors are classified in Classes 7-8 and will
receive a total distribution of $120,207.12 or 100%, whichever is
less, of their allowed unsecured claims, at 0% interest.

Class 7 consists of Debtors unsecured, non-priority debts to Dell
Financial Services L.L.C. in the amount of $11,055.29 (Claim Nos. 3
& 7) and American Express National Bank's in the amount of
$2,151.83 (Claim No. 4). Dell Financial Services L.L.C. will be
paid the balance of its claim in 60 equal monthly installments of
$184.26. American Express National Bank will be paid will be paid
the balance of its claim in 60 equal monthly installments of
$35.86.

Payments shall begin 11 days after the Effective Date of the Plan
and each successive month until paid in full.

Class 8 consists of Debtors unsecured, non-priority debts to Access
Capital Inc. in the amount of $22,000.00 and Smart Business in the
amount of $85,000.00. Access Capital Inc. will be paid the balance
of its claim in 60 equal monthly installments of $366.67. Smart
Business will be paid the balance of its claim in 60 equal monthly
installments of $1,416.67. Payments shall begin 11 days after the
Effective Date of the Plan and each successive month until paid in
full.

Class 9 consists of the equity interests of Keith Strange. Equity
security holders shall retain their full interest in the Debtor.

Payments and distributions under the Plan will be funded by the net
monthly and/or annual cash flow from business operations of the
Debtor.

A full-text copy of the Combined Disclosure Statement and Plan
dated August 31, 2023 is available at
https://urlcurt.com/u?l=jNOUmi from PacerMonitor.com at no charge.


Counsel to Debtor:

     DILKS LAW FIRM
     Lyndsey D. Dilks, Esq.
     Frank H. Falkner, Esq.
     P.O. Box 34157
     Little Rock, AR 72203
     (501)244-9770 phone
     (888)689-7626 fax
     Email: ldilks@dilkslawfirm.com
            frank@dilkslawfirm.com

                       About Keith Strange

Keith Strange LLC provides storage and virtualization consulting
services for large customers throughout the US. It sought
protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr.
E.D. Ark. Case No. 23-10357) on Feb. 9, 2023.  In the petition
signed by Keith Strange, manager, the Debtor disclosed up to
$50,000 in assets and up to $1 million in liabilities.

Judge Richard D. Taylor oversees the case.

Frank H. Falkner, Esq., at Dilks Law Firm, is the Debtor's legal
counsel.


KING DRIVE: Case Summary & One Unsecured Creditor
-------------------------------------------------
Debtor: King Drive Corp.
        580 Lakewood Drive
        Harrisburg, PA 17112-8408

Chapter 11 Petition Date: September 8, 2023

Court: United States Bankruptcy Court
       Middle District of Pennsylvania

Case No.: 23-02044

Judge: Hon. Henry W. Van Eck

Debtor's Counsel: Robert E. Chernicoff, Esq.
                  CUNNINGHAM, CHERNICOFF & WARSHAWSKY PC
                  2320 N. Second St.
                  Harrisburg, PA 17110
                  Tel: (717) 238-6570
                  Email: rec@cclawpc.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $500,000 to $1 million

The petition was signed by Richard A. Angino as president.

The Debtor listed PPL located at 827 Hausman Road, Allentown, PA
18104-9392, as its sole unsecured creditor.

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

https://www.pacermonitor.com/view/WO6CJCY/King_Drive_Corp__pambke-23-02044__0001.0.pdf?mcid=tGE4TAMA


KINGDOM CONCEPTS: Files Emergency Bid to Use Cash Collateral
------------------------------------------------------------
Kingdom Concepts, LLC asks the U.S. Bankruptcy Court for the
Northern District of Texas, Dallas Division, for authority to use
cash collateral to operate its two restaurants.

The Debtor has an immediate need to use the cash collateral of
Quick Funding Group and Spot On, the Debtor's secured creditors
claiming liens on the Debtor's personal property including cash and
accounts. The Debtor can adequately protect the interests of the
Secured Lenders as set forth in the proposed Interim Order for Use
of Cash Collateral by providing the Secured Lenders with
post-petition liens, a priority claim in the Chapter 11 bankruptcy
case, and cash flow payments. The cash collateral will be used to
continue the Debtor's ongoing operations.

The Debtor intends to rearrange its affairs and needs to continue
to operate in order to pay its ongoing expenses, generate
additional income and to propose a plan in the case.

As adequate protection, the Secured Lenders will be granted
replacement liens and security interests, in accordance with U.S.C.
Sections 361, 363, 364(c)(2), 364(e), and 552, co-extensive with
their pre-petition liens.

The replacement liens are automatically perfected without the need
for filing of a UCC-1 financing statement with the Secretary of
State's Office or any other such act of perfection.

A copy of the motion is available at https://urlcurt.com/u?l=b7wK1I
from PacerMonitor.com.

A copy of the budget is available at https://urlcurt.com/u?l=xW7WKm
from PacerMonitor.com.

The Debtor projects $220,000 in gross revenue and $214,350 in total
expenses for one month.

                    About Kingdom Concepts, LLC

Kingdom Concepts, LLC sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. N.D. Tex. Case No. 23-31895-swe11) on
August 31, 2023. In the petition signed by Cedric Brown, manager,
the Debtor disclosed up to $500,000 in both assets and
liabilities.

Joyce W. Lindauer, Esq., at Joyce W. Lindauer Attorney, PLLC,
represents the Debtor as legal counsel.


KNIGHT HEALTH: $450MM Bank Debt Trades at 66% Discount
------------------------------------------------------
Participations in a syndicated loan under which Knight Health
Holdings LLC is a borrower were trading in the secondary market
around 33.6 cents-on-the-dollar during the week ended Friday,
September 8, 2023, according to Bloomberg's Evaluated Pricing
service data.

The $450 million facility is a Term loan that is scheduled to
mature on December 23, 2028.  The amount is fully drawn and
outstanding.

Knight Health Holdings LLC is a provider of a community-based acute
and post-acute care, with 18 short-term acute care hospitals and 61
long-term acute care facilities across 25 states.



LEARFIELD COMMUNICATIONS: $864MM Bank Debt Trades at 30% Discount
-----------------------------------------------------------------
Participations in a syndicated loan under which Learfield
Communications LLC is a borrower were trading in the secondary
market around 70.1 cents-on-the-dollar during the week ended
Friday, September 8, 2023, according to Bloomberg's Evaluated
Pricing service data.

The $864 million facility is a Term loan that is scheduled to
mature on December 1, 2023.  About $862 million of the loan is
withdrawn and outstanding.

Learfield Communications, LLC, dba Learfield IMG College, is an
operator in the collegiate sports multimedia rights and marketing
industry. Atairos Group, Inc. acquired the company in December 2016
from Providence Equity Partners, Nant Capital, and certain members
of management.



LEE & MAIN STREET: Case Summary & Three Unsecured Creditors
-----------------------------------------------------------
Debtor: Lee & Main Street, LLC
        403 Harrison Circle
        Locust Grove VA 22508    

Business Description: Lee & Main Street owns real property located
                      at 201 S Main St and 105 Lee St Blacksburg,
                      VA consisting of a redevelopment townhouse
                      lots and a building to be remodeled valued
                      at $1.1 million in the aggregate.

Chapter 11 Petition Date: September 8, 2023

Court: United States Bankruptcy Court
       Western District of Virginia

Case No.: 23-70603

Debtor's Counsel: Scot Farthing, Esq.
                  FARTHING LEGAL, PC
                  490 West Monroe St.
                  Wytheville, VA 24382
                  Tel: 276-625-0222
                  Email: scotf@sfarthinglaw.com

Total Assets: $1,307,413

Total Liabilities: $1,877,184

The petition was signed by Jonathan Butt as co-manager/member.

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/LHST37I/Lee__Main_Street_LLC__vawbke-23-70603__0001.0.pdf?mcid=tGE4TAMA


LINDEN AUTO: Scott Rever Named Subchapter V Trustee
---------------------------------------------------
The U.S. Trustee for Regions 3 and 9 appointed Scott Rever, Esq.,
at Genova Burns, LLC as Subchapter V trustee for Linden Auto Spa,
LLC.

Mr. Rever 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. Rever declared that he is a disinterested person according to
Section 101(14) of the Bankruptcy Code.

The Subchapter V trustee can be reached at:

     Scott S. Rever, Esq.
     Genova Burns, LLC
     110 Allen Rd., Suite 304,
     Basking Ridge, NJ 07920
     Phone: (973) 387-7801
     Email: SRever@genovaburns.com

                      About Linden Auto Spa

Linden Auto Spa, LLC operates an automobile car wash business at
1066 East Elizabeth Avenue, Linden, N.J.

The Debtor filed Chapter 11 petition (Bankr D. N.J. Case No.
23-17265) on Aug. 22, 2023, with up to $50,000 in assets and up to
$10 million in liabilities. Andrew A. Montoya, managing member,
signed the petition.

Judge Stacey L. Meisel oversees the case.

Justin M. Gillman, Esq., at Gillman, Bruton & Capone, LLC,
represents the Debtor as legal counsel.


LONGRUN PBC: Court OKs Cash Collateral Access Thru Nov 2
--------------------------------------------------------
The U.S. Bankruptcy Court for the District of Massachusetts
authorized LongRun, PBC d/b/a Keto & Co., to use cash collateral on
a continuing basis substantially in accordance with the budget,
through the earlier of the conclusion of the Continued Hearing on
the Motion or entry of a further order regarding the continued use
of cash collateral.

The continued hearing on the matter is set for November 2, 2023 at
1 p.m.

Merchant Financial Corporation, First Savings Bank, the Small
Business Administration and U.S. Bank Equipment Finance are granted
post-petition replacement liens and security interests in property
of the Debtor's estate, to the extent of valid perfected security
interests as of the Petition Date not subject to avoidance, in an
amount equivalent to the amount of cash collateral expended by the
Debtor, of the same type, in the same nature and to the same extent
as the Lienholders had in the assets pre-petition to the extent the
Lienholders held validly perfected and unavoidable liens and
security interests as of the Petition Date.

As further adequate protection, the Debtor is authorized to make
monthly adequate protection payments to the Lienholders as set
forth in the Motion and in the Budget.

The Post-petition Liens will have the same priority, validity, and
enforceability as the Lienholders' liens on their pre-petition
collateral.

A copy of the court's order is available at
https://urlcurt.com/u?l=a0NM3n from PacerMonitor.com.

                      About LongRun P.B.C.

LongRun P.B.C., doing business as LongRun LLC and Keto & Co., make
low carb food for keto dieters, diabetics, and anyone trying to eat
healthier. It is based in Belmont, Mass.

LongRun P.B.C. filed a petition for relief under Subchapter V of
Chapter 11 of the Bankruptcy Code (Bankr. D. Mass. Case No.
23-10140) on Feb. 1, 2023, with $1 million and $10 million in both
assets and liabilities.  Richard Tieken, president and chief
executive officer, signed the petition.

Judge Christopher J. Panos oversees the case.

The Debtor tapped Steven Weiss, Esq., at Shatz, Schwartz and
Fentin, P.C. as legal counsel and Verdolino & Lowey, P.C. as
accountant.


LUCAS MACYSZYN: Case Summary & 19 Unsecured Creditors
-----------------------------------------------------
Debtor: Lucas, Macyszyn & Dyer Law Firm, PLLC
           f/d/b/a Law Offices of Lucas Magazine, PLLC
        9020 Rancho Del Rio Dr #101
        New Port Richey, FL 34655

Business Description: The Debtor is a law firm that handles car
                      accidents, truck accidents, motorcycle
                      accidents and slip and fall injury cases.

Chapter 11 Petition Date: September 8, 2023

Court: United States Bankruptcy Court
       Middle District of Florida

Case No.: 23-03944

Debtor's Counsel: Alberto ("Al") F. Gomez, Jr., Esq.
                  JOHNSON, POPE, BOKOR, RUPPEL & BURNS, LLP
                  401 East Jackson Street #3100
                  Tampa, FL 33602
                  Tel: 813-225-2500

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Jeffrey Lucas as Manager of Jeff Lucas
PLLC, member.

A full-text copy of the petition containing, among other items, a
list of the Debtor's 19 unsecured creditors is available for free
at PacerMonitor.com at:

https://www.pacermonitor.com/view/GRK23MQ/Lucas_Macyszyn__Dyer_Law_Firm__flmbke-23-03944__0001.0.pdf?mcid=tGE4TAMA


LUCENA DAIRY: Case Summary & 16 Unsecured Creditors
---------------------------------------------------
Debtor: Lucena Dairy Inc.
        Carr 635 Bo Dominguito
        Arecibo, PR 00612

Business Description: The Debtor is engaged in the production of
                      cows'milk and other dairy products and in
                      raising dairy heifer replacements.

Chapter 11 Petition Date: September 8, 2023

Court: United States Bankruptcy Court
       District of Puerto Rico

Case No.: 23-02835

Debtor's Counsel: Carmen D. Conde Torres, Esq.
                  C. CONDE & ASSOC.
                  254 San Jose Street
                  5th Floor
                  San Juan, PR 00901-1523
                  Tel: 787-729-2900
                  Fax: 787-729-2203
                  Email: condecarmen@condelaw.com

Total Assets: $1,905,560

Total Liabilities: $11,464,130

The petition was signed by Jorge Lucena Betancourt as presidente.

A full-text copy of the petition containing, among other items, a
list of the Debtor's 16 unsecured creditors is available for free
at PacerMonitor.com at:

https://www.pacermonitor.com/view/2CG3VNI/LUCENA_DAIRY_INC__prbke-23-02835__0001.0.pdf?mcid=tGE4TAMA


LUMEN TECHNOLOGIES: $5BB Bank Debt Trades at 35% Discount
---------------------------------------------------------
Participations in a syndicated loan under which Lumen Technologies
Inc is a borrower were trading in the secondary market around 65.4
cents-on-the-dollar during the week ended Friday, September 8,
2023, according to Bloomberg's Evaluated Pricing service data.

The $5 billion facility is a Term loan that is scheduled to mature
on March 15, 2027.  About $3.92 billion of the loan is withdrawn
and outstanding.

Lumen Technologies, Inc., headquartered in Monroe, Louisiana, is an
integrated communications company that provides an array of
communications services to large enterprise, mid-market enterprise,
government and wholesale customers in its larger Business segment.
The company's smaller Mass Markets segment primarily provides
broadband services to its residential and small business customer
base.



LUNA DAIRY: Case Summary & 16 Unsecured Creditors
-------------------------------------------------
Debtor: Luna Dairy Inc.
        BO Corcovado Carr 492 Km 4.9
        Hatillo, PR 00659-6901

Business Description: The Debtor is primarily engaged in the
                      production of cows'milk and other dairy
                      products and in raising dairy heifer
                      replacements.

Chapter 11 Petition Date: September 9, 2023

Court: United States Bankruptcy Court
       District of Puerto Rico

Case No.: 23-02837

Debtor's Counsel: Carmen D. Conde Torres, Esq.
                  C. CONDE & ASSOC.
                  254 San Jose Street
                  5th Floor
                  San Juan, PR 00901-1523
                  Tel: 787-729-2900
                  Fax: 787-729-2203
                  E-mail: condecarmen@condelaw.com

Total Assets: $4,102,639

Total Liabilities: $11,316,130

The petition was signed by Jorge Lucena Betancourt as presidente.

A full-text copy of the petition containing, among other items, a
list of the Debtor's 16 unsecured creditors is available for free
at PacerMonitor.com at:

https://www.pacermonitor.com/view/NT3HH6A/LUNA_DAIRY_INC__prbke-23-02837__0001.0.pdf?mcid=tGE4TAMA


LV OPPORTUNITY: Amends JPMorgan & Renaissance Secured Claims Pay
----------------------------------------------------------------
LV Opportunity Zone LLC, Series 5, submitted a Second Disclosure
Statement describing Second Plan of Reorganization dated September
5, 2023.

The Debtor has limited operating history; however, the operations
of the Debtor are not complex as the only asset is a rental
property that will generate approximately $4,500 to $6,500 per
month in gross rental income.

Class 1 claim consists of a Secured Claim in favor of JPMorgan
Chase Bank, N.A./Bank of America, N.A. against the Debtor's rental
property located at 2849 Botticelli Drive, Henderson, Nevada 89052;
APN: 191-01-219-036, which is secured by a First Deed of Trust
recorded July 1, 2004, as instrument number 200407010005255 in the
original sum of $560,000.

If Objection to Claim is Sustained - Unimpaired: The Debtor asserts
that Secured Creditor cannot collect any payments that become due
beyond 6 years. If the Court sustains this part of the objection
the amount owed would be $672,003.  $476,974 is the principal
amount of the allowed claim.  There is a deferred balance of
$106,600 until payoff. The allowed amount of claim is $565,403.

     * Arrears. Debtor will cure the arrears of $88,429 over 60
months in equal installments from surplus rental income and monthly
capital contributions by its managing member in the amount of
$1,474 plus any post-petition payments and escrow amounts.
Alternatively, the Debtor shall attempt to refinance the property
within 60-120 days or obtain an equity line of credit to cure the
arrears, which at a 7% interest rate would make the monthly payment
$3,761.64.

If Objection to Claim is Overruled – Unimpaired: If the Court
overrules the objection, the amount owed is $824,967 plus any
postpetition payments and escrow amounts up to the appraised value
of $848,000.  There is a deferred balance of $106,600.00 until
payoff. $476,974 is the principal amount of the allowed claim.

     * Arrears. Debtor shall cure the arrears over 60 months of
$241,392.83 in equal monthly payments from rental income and
monthly capital contributions by its managing member.
Alternatively, the Debtor shall attempt to refinance the property
within 60-120 days, which at a 7% interest rate would make the
monthly payment $5,641.77.

Class 2 claim consist of a pre-petition Secured Claim for (fines)
in favor of Renaissance Community Association, (HOA Lien) against
the Debtor's rental property. Class 2 claim shall be paid its
allowed amount of Claim, all further fines shall stop as of the
petition date for the rock issue. The HOA has been fining the
Debtor for replacement of granite rock in its front yard. The
Debtor replaced the rock and has always maintained the rock. The
HOA current board/management became unhappy with the replacement
rock without explanation and began fining the Debtor. As such, this
claim will be paid zero.

Class 4 Claims consist of the General Unsecured Claims against the
Debtor. Holders of Class 4 General Unsecured Claims on the
Effective Date shall, in full satisfaction, settlement, release and
exchange for such Allowed General Unsecured Claims, shall receive
their pro rata share of the Debtor's distribution payment. All
portions of allowed Class 4 unsecured claims that remain unpaid,
and at the conclusion of the payments required under this Plan (the
"Plan Term"), will cease 60 months after the Effective Date and
shall be forever discharged and rendered non-collectable against
the Debtor or Debtor's property. The Debtor's single Plan Payment
under the Plan shall be $7,500.00, which shall be a contribution
made from the Debtor's member.

On the Effective Date payments to Creditors' in Class 1 shall be
funded from the Debtor’s rental income and equity interest holder
contributions should the rental income not be sufficient.

Payments to Class 4 creditors required under the Plan will be
funded by the Debtor's member. This payment shall be paid within 60
months from the entry of the confirmation order in equal
installments.

A full-text copy of the Second Disclosure Statement dated September
5, 2023 is available at https://urlcurt.com/u?l=F9dv6b from
PacerMonitor.com at no charge.

Attorney for the Debtor:

     Steven L. Yarmy, Esq.
     7464 W Sahara Ave, STE 8
     Las Vegas, Nevada 89117
     Tel: (702) 586-3513
     Fax: (702) 586-3690
     E-mail: sly@stevenyarmylaw.com

                    About LV Opportunity Zone

On Nov. 16, 2022, LV Opportunity Zone LLC, Series 5 was formed on
December 31, 2021, as a Series LLC for the purpose of renting
property short and medium term.

The Debtor filed a voluntary petition for relief under chapter 11
of the Bankruptcy Code (Bankr. D. Nev. Case No. 22-14100) on Nov.
16, 2022. The Debtor is represented by Steven L. Yarmy, Esq.


M/I HOMES INC: S&P Raises ICR to 'BB' on Expected Profitable Growth
-------------------------------------------------------------------
S&P Global Ratings raised both its issuer credit rating and
issue-level rating on U.S. homebuilder M/I Homes Inc. (MHO) to 'BB'
from 'BB-'. The recovery rating on the issue-level debt remains a
'3'.

The stable outlook reflects S&P's forecast for S&P Global
Ratings-adjusted debt leverage to remain between 1.5x-2.0x and
EBITDA interest coverage to remain above 10x as the increasing cash
cushion provides further support to maintain financial policies and
credit quality over the next 12-24 months.

The company is defending its credit quality through this current
downturn. MHO's consistent lower debt levels and cash flows help
guard it against homebuilding industry cyclicality. S&P now expects
EBITDA to cover interest by more than 10x in 2023 and 2024, even
through the current downturn. With approximately $668 million of
cash as of the end of the second quarter, the company maintains
adequate liquidity relative to its closest maturities of $400
million of senior notes due 2028 and $300 million of senior notes
due 2030.

Additionally, since its largest tranche of debt is not due until
2028, MHO's weighted average maturity approaches five years, which
is comfortably in line with the majority of high-rated homebuilding
peers.

The company's financial discipline and internally generated growth
enables us to upgrade MHO, and we expect it to maintain low debt
leverage.

Consequently, this will likely provide an ample buffer in a
downturn. S&P said, "We expect MHO will continue to focus on free
operating cash flow (FOCF) to protect and enhance the balance
sheet. Its land management and inventory controls have driven its
cash flow generation. We anticipate MHO will expand the number of
active communities in 2024 and increase its spending on land and
land development, resulting in free operating cash flow of $100
million-$125 million, depending on the company's strategy and
execution of land management. Stemming from this and less draconian
market conditions, we anticipate the company will close
approximately 7,500 units in 2023 and above 8,000 in 2024."

Despite revenue and profitability declines throughout the sector in
the last few quarters due to dampened demand from sharp rate
increases, S&P believes performance in the homebuilding sector will
stabilize throughout 2024 as homebuyers adjust to higher rates
while the U.S. macroeconomic backdrop improves. The inventory of
existing homes remains low, which enabled builders to gain market
share in recent months (accounting for approximately 40% of new
home sales in the second quarter).

Consumers are also adjusting to much higher mortgage rates (the
average 30-year mortgage rate remains above 7%), which builders
have attempted to counteract with lower home prices and higher
incentives during the spring selling season. S&P said, "Given their
stronger-than-anticipated start to the year, we now believe the
declines will be more moderate, with revenue and EBITDA falling
near the lower end of our forecast ranges as we forecast total
revenues and EBITDA declines in 2023 for MHO of 9.5% and 24%,
respectively. We also expect reduced discounts and incentives will
support a recovery in operating margins."

The stable outlook reflects S&P's forecast for MHO's debt to EBITDA
to remain between 1.5-2.0x.

S&P could lower the rating on MHO over the next 12 months if its
debt to EBITDA rises above 3x, potentially through:

-- About a 40% decline in profits from our EBITDA forecast; or

-- Debt issuances that we deem detrimental to the leverage profile
of the company.

Although unlikely, S&P could raise the rating on MHO if:

-- It significantly expands its asset-light model in more
diversified end markets while also enhancing its size and scale;
or

-- It adopts a more conservative policy such that it maintains
debt to EBITDA well below 1.5x.



MAGENTA BUYER: $750MM Bank Debt Trades at 55% Discount
------------------------------------------------------
Participations in a syndicated loan under which Magenta Buyer LLC
is a borrower were trading in the secondary market around 45.0
cents-on-the-dollar during the week ended Friday, September 8,
2023, according to Bloomberg's Evaluated Pricing service data.

The $750 million facility is a Term loan that is scheduled to
mature on July 27, 2029.  The amount is fully drawn and
outstanding.

Magenta Buyer LLC is a provider of cybersecurity software that
derives revenue from the sale of security products, subscriptions,
SaaS, support and maintenance, and professional services.



MATRIX PARENT: $160MM Bank Debt Trades at 59% Discount
------------------------------------------------------
Participations in a syndicated loan under which Matrix Parent Inc
is a borrower were trading in the secondary market around 40.9
cents-on-the-dollar during the week ended Friday, September 8,
2023, according to Bloomberg's Evaluated Pricing service data.

The $160 million facility is a Term loan that is scheduled to
mature on March 1, 2030.  The amount is fully drawn and
outstanding.

Matrix Parent, Inc. does business as Mobileum. Matrix operates
across four main businesses ranked as following in descending order
by revenue contribution: Roaming and Network Services; Fraud,
Security and Business Assurance; Testing and Service Assurance; and
Engagement and Experience. Matrix pioneered the development of
mobile roaming steering software used broadly among telecom
operators.



MAVENIR SYSTEMS: $145MM Bank Debt Trades at 23% Discount
--------------------------------------------------------
Participations in a syndicated loan under which Mavenir Systems Inc
is a borrower were trading in the secondary market around 77.5
cents-on-the-dollar during the week ended Friday, September 8,
2023, according to Bloomberg's Evaluated Pricing service data.

The $145 million facility is a Term loan that is scheduled to
mature on August 18, 2028.  About $143.8 million of the loan is
withdrawn and outstanding.

Mavenir Systems, Inc. provides software-based networking solutions.
The Company offers internet protocol based voice, videos,
communication, and messaging services, as well as multimedia
subsystem, evolved packet core, and session border controller.



MAVERICK GAMING: Moody's Cuts CFR to 'Caa2' & Alters Outlook to Neg
-------------------------------------------------------------------
Moody's Investors Service downgraded Maverick Gaming LLC's
Corporate Family Rating to Caa2 from B3 and Probability of Default
Rating to Caa2-PD from B3-PD, and appended the PDR with the "/LD"
(limited default) designation. The company's senior secured term
loan was downgraded to Caa2 from B3, and the company's $55 million
super-priority first-out revolving credit facility was downgraded
to B1 from Ba3. The outlook is negative.

The downgrade of the company's CFR to Caa2 and negative outlook
reflects Maverick's elevated leverage levels and weakened liquidity
position. The company's operating results have been weaker than
Moody's original expectations, with softer than expected results in
Washington card rooms and Colorado market. While Moody's believes
the company has rightsized the business through various cost
cutting initiatives, leverage will be sustained at higher levels
into 2024.

Moody's considered Maverick's 2023 term loan repurchases a
distressed exchange under Moody's definition of default because
they result in an economic loss given they were repurchased at a
discount. Maverick repurchased $45 million of its $310 million term
loan due 2026. Moody's definition of default is intended to capture
events whereby issuers fail to meet debt service obligations
outlined in their original debt agreements. Moody's will remove the
/LD designation from the PDR in three business days.

Governance risks considerations are material to the rating action,
including the debt repurchase and risk associated with elevated
leverage levels and financial policy.

Downgrades:

Issuer: Maverick Gaming LLC

Corporate Family Rating, Downgraded to Caa2 from B3

Probability of Default Rating, Downgraded to
  Caa2-PD/LD(/LD appended) from B3-PD

Senior Secured Super Priority Revolving Credit Facility,
  Downgraded to B1 from Ba3

Senior Secured 1st Lien Term Loan, Downgraded to Caa2
  from B3

Outlook Actions:

Issuer: Maverick Gaming LLC

Outlook, Changed To Negative From Stable

RATINGS RATIONALE

Maverick Gaming LLC's Caa2 Corporate Family Rating is constrained
by its high leverage level. The company's liquidity is weakened,
with limited access to its revolver given financial covenant
constraints. If borrowings exceed 30% of the revolver's commitment,
a financial covenant would come into play, which Moody's does not
believe the company would be in compliance with if tested.  The
company's growth strategy, including acquiring gaming assets and
improving operations, has been a key driver of the company's
increased debt levels and rapid growth, seen largely in 2019
through multiple acquisitions. The company acquired additional card
rooms in 2022, and also conducted sale leasebacks, which has
resulted in sizeable lease liabilities. Size, scale, and narrow
product focus represent key constraints. Positive credit
consideration is given to the company's position in Washington
State, where the company is the largest operator of cardrooms and
benefits from its locations being concentrated in urban settings,
such as the Seattle area. Expense reduction and margin improvement
at the company's facilities, Maverick's geographic diversification,
with properties in Washington, Nevada, and Colorado, further
support the credit profile.

The negative rating outlook considers the company's weak liquidity
and still elevated leverage levels.

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

Ratings could be upgraded if Maverick demonstrates the ability and
willingness to achieve and maintain debt-to-EBITDA leverage below
7x while maintaining a positive free cash flow profile and adequate
liquidity.

Ratings could be downgraded if earnings do not improve as a result
of cost cutting actions or if liquidity deteriorates. Sustained
negative free cash flow or inability to maintain compliance with
its covenants could also result in a downgrade. Transactions deemed
a distressed exchange would also result in a downgrade.

The principal methodology used in these ratings was Gaming
published in June 2021.

Maverick Gaming LLC, headquartered in Kirkland, Washington, is a
regional casino and cardroom operator across Washington State,
Nevada, and Colorado. The company operates a portfolio of 31
properties, with 1,800 slot machines, 350 table games, 1,020 hotel
rooms, and 30 restaurants. Maverick was founded in 2017 by Eric
Persson and Justin Beltram, who hold over 70% ownership in the
company. Revenue for the trailing 12-month period ended June 30,
2023 was $289 million.


MEJJM INC: May Use $154,000 of Cash Collateral
----------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Indiana,
Indianapolis Division, authorized MEJJM, Inc. to use cash
collateral up to the amount of $154,000 on an interim basis in
accordance with the budget, with a 10% variance.

The Debtor represented that First Internet Bank (FIB), the U.S.
Small Business Administration and certain Internet lenders,
extended credit to the Debtor that is secured by a blanket lien on
substantially all of its property. Only FIB appears to be partially
secured.

The Debtor represented that it is indebted to FIB in total
approximately $1.9 million, plus accrued and unpaid interest and
other charges as provided in the Loan Documents.

The Debtor contends that FIB have valid and enforceable security
interests and liens in all of the Debtor's assets.

The Court makes no determination regarding the extent, validity,
priority or perfection of liens in the cash collateral at this
time. All rights, claims and arguments of Debtor, Secured
Creditors, and all other interested parties regarding the extent,
validity, and priority of liens in the cash collateral, are
preserved pending further order of the Court. Despite this the
Debtor will pay adequate protection to FIB commencing September 1,
2023, and continuing monthly thereafter until confirmation of a
plan in the case in the amount of $11,207, provided that the
allocation of such payments between interest and principal will be
determined either by agreement of the parties or subsequent Court
Order.

Pursuant to 11 U.S.C. Sections 363(e) and 361, the Secured
Creditors will be granted replacement liens in the cash collateral
and in the post-petition property of Debtor of the same nature and
to the same extent and in the same priority held in the cash
collateral on the Petition Date.

Unless extended by the Court upon the written agreement of Debtor
and the Secured Creditors, the Debtor's authorization to use the
cash collateral will immediately terminate on the earlier to occur
of:

(a) the date on which any creditor provides, via facsimile, e-mail
or overnight mail, written notice to Debtor or Debtor's counsel, of
the occurrence of an Event of Default, and the expiration of a five
business day cure period; or

(b) September 13, 2023, or such later date as the Court Order.

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

                         About MEJJM, Inc.

MEJJM, Inc. employs 6 people and subcontracts with 2 others to run
a business that designs, imports and sells stationery, greeting
cards and holiday cards into the retail space via its wholesale
business.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Ind. Case No. 23-03538) on August 14,
2023. In the petition signed by Michael Smith, president, the
Debtor disclosed $1,502,094 in assets and $2,887,831 in
liabilities.

Judge Jeffrey J. Graham oversees the case.

KC Cohen, Esq., at KC COHEN, LAWYER, PC, represents the Debtor as
legal counsel.


MILE HI TRANSPORTATION: Voluntary Chapter 11 Case Summary
---------------------------------------------------------
Debtor: Mile Hi Transportation, LLC
        5436 S. Lakeview Street
        Littleton, CO 80120

Chapter 11 Petition Date: September 8, 2023

Court: United States Bankruptcy Court
       District of Colorado

Case No.: 23-14054

Judge: Hon. Thomas B. Mcnamara

Debtor's Counsel: Jonathan M. Dickey, Esq.
                  KUTNER BRINEN DICKEY RILEY PC
                  1660 Lincoln Street, Suite 1720
                  Denver, CO 80264
                  Tel: 303-832-2400
                  Email: jmd@kutnerlaw.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Jesse Trujillo as managing member.

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

https://www.pacermonitor.com/view/IDFF4FA/Mile_Hi_Transportation_LLC__cobke-23-14054__0001.0.pdf?mcid=tGE4TAMA


MONTANA TUNNELS: Amends Unsecureds & Several Secured Claims Pay
---------------------------------------------------------------
Montana Tunnels Mining, Inc., submitted a Second Amended Disclosure
Statement dated September 5, 2023.

The proposed Plan of Reorganization is based upon the Debtor's
desire to pay its creditors in full.

Generally, the Plan of Reorganization will pay the Class I claim of
Goldfields Funding Partners it pre-petition property tax lien,
represented by tax certificates purchased from the Jefferson County
Treasurer in the amount of $6,390,280. This claim will be paid,
with interest at 8.5%, through 60 monthly payments of $130,140.79
commencing 270 days after the achievement of the Effective Date
with the final payment in the amount of $1,299,537.67.

The Class III claimant, Internal Revenue Service holds a secured
claim in the amount of $71,044; the claim will be paid, with
interest of 8.5%, through 60 monthly payments of $1740.59
commencing January 4, 2024 with the final installment in the amount
of $3108.97.

The Class IV claimant, Jefferson County Treasurer holds a secured
claim in the amount of $3,110,505; the claim will be paid, with
interest at 10%, through 48 monthly payments of $78,248.13
commencing January 4, 2024 with the final installment in the amount
of$152,720.21.

The Class VII claimants hold general unsecured claims; the members
of this class and will be commencing 90 days following the
Confirmation Date paid through 60 monthly payments, with interest
at the Federal Judgment Rate, commencing January 4, 2024in the
following amounts:

     * Talex Commodities - $3562.01 with the final installment in
the amount of $4552.30.

     * LD Construction - $4117.57 with the final installment in the
amount of $5261.79.

     * NorthWestern Energy - $1175.11 with the final installment in
the amount of $1501.66.

     * Energy West Resources - $27.18 with the final installment in
the amount of $34.95.

     * Crowley Fleck - $354.37 with the final installment in the
amount of $453.03.

     * Environmental Protection Agency - $12,342.60 with the final
installment in the amount of $8972.68.

     * Tetratek - $434.74 with the final installment in the amount
of $553.40.

     * Lloyd Mining Services - $2637.82 with the final installment
in the amount of $3370.71.

     * Internal Revenue Service - $604.88 with the final
installment in the amount of $772.71.

Generally, the source of funds for the Plan payments will be
through from an initial borrowing by Montana Goldfields, Inc. to be
completed by the Chapter 11 Plan's Effective Date, in combination
with the completion of an initial public offering or further
borrowing by Montana Goldfields Inc. to be completed by the Chapter
11 Plan's Effective Date, along with funds generated from the lease
of the Diamond Hill Mill,, a part of the MTMI Concentration
Facility at the MTMI Mill Complex, and from loan funds received by
the Debtor or its parent, Montana Goldfields, Inc., or a
combination of the foregoing.

A full-text copy of the Second Amended Disclosure Statement dated
September 5, 2023 is available at https://urlcurt.com/u?l=0s4Pnu
from PacerMonitor.com at no charge.

Attorney for the Debtor:

     James A. Patten, Esq.
     Molly S. Considine, Esq.
     PATTEN, PETERMAN, BEKKEDAHL & GREEN, P.L.L.C.
     2817 2nd Avenue North, Ste. 300
     P.O. Box 1239
     Billings, MT 59103-1239
     Telephone: (406) 252-8500
     Facsimile: (406) 295-9500
     E-mail: apatten@ppbglaw.com
             mconsidine@ppbelaw.com

                 About Montana Tunnels Mining

Montana Tunnels Mining, Inc., a company in Jefferson City, Mont.,
sought protection under Chapter 11 of the U.S. Bankruptcy Code
(Bankr. D. Mont. Case No. 22-20132) on Dec. 2, 2022. In the
petition signed by its chief executive officer, Patrick Imeson, the
Debtor disclosed $10 million to $50 million in assets and $50
million to $100 million in liabilities.

Judge Benjamin P. Hursh oversees the case.

Patten, Peterman, Bekkedahl & Green, PLLC and Crowley Fleck, PLLP
serve as the Debtor's bankruptcy counsel and special counsel,
respectively.


MORNINGSTAR SENIOR: Fitch Affirms 'BB' LongTerm IDR, Outlook Stable
-------------------------------------------------------------------
Fitch Ratings has affirmed Morningstar Senior Living's (MSL)
Long-Term Issuer Default Rating (IDR) and series 2019 bonds issued
by the Northampton County Industrial Development Authority on
behalf of MSL at 'BB'.

The Rating Outlook is Stable.

   Entity/Debt             Rating          Prior
   -----------             ------          -----
Morningstar
Senior Living (PA)   LT IDR BB  Affirmed     BB

   Morningstar
   Senior Living
   (PA) /General
   Revenues/1 LT     LT     BB  Affirmed     BB

The rating affirmations reflect the expected stability of
Morningstar's thin financial profile, which is consistent with a
below-investment grade rating through Fitch's forward-looking
scenario analysis. Morningstar's leverage burden is elevated as a
result of debt incurred to finance an extensive independent living
unit (ILU) expansion project on the newer Heritage Village portion
of the campus over the last several years.

Morningstar continues to benefit from strong demand and occupancy
across all service lines. The ratings are further supported by
Morningstar's soft operating risk profile and core operating
metrics, which Fitch expects to stabilize and show gradual
improvement as the expansion project is completed and the new ILUs
generate additional revenues.

This spring, Morningstar announced an affiliation with Moravian
Manors Inc. (PA) (IDR BB+). This strategic alliance is expected to
include sharing some senior talent, as well as efficiencies in
technology and back office expenses. However, the obligated groups
are expected to remain separate. Fitch views the affiliation as
credit neutral.

SECURITY

The bonds are secured by a pledge of the obligated group's (OG)
gross revenues, a first mortgage lien, and a debt service reserve
fund for the series 2019 bonds.

KEY RATING DRIVERS

Revenue Defensibility - 'bbb'

Successful Fill of Expansion

Morningstar continues to maintain strong occupancy across service
lines. Over the last four fiscal years (FYE June 30), ILU occupancy
has averaged 90%, ALU 87%, SNF 89% and MC 94%. As of June 30,2023,
ILU occupancy was 94%, ALU 84%, SNF 92%, and MC 96%. Morningstar
has numerous competitors, but its high occupancy indicates it is
capable of competing with its preferable location, amenities, and
incentives. Morningstar has regular entrance fee and monthly
service fee increases and a waitlist of over 80 potential
residents, which further supports the midrange revenue
defensibility.

Morningstar is progressing on its Heritage Village expansion
project, with phases 1-4 of the ILU project complete and filled.
Management reports 18 of the 21 sites in phase 5 have been pre-sold
and expects move ins to be complete by the end of fiscal 2024.
Average entrance fees on the Phase 5 and 6 ILUs are higher than
those for existing units, ranging from about $406,000 to $556,000,
compared to weighted average entrance fees (WAEF's) of $232,000 for
Moravian Hall Square.

However, historical success selling phases 1-5 indicate market
acceptance of a higher price point for the new units. Both price
points are affordable in comparison to the average resident net
worth of over $1.2 million and to typical home prices of $385,000
Nazareth, PA according to Zillow.

Operating Risk - 'bb'

Weak Profitability, Robust Capital Spending

Morningstar's contract mix historically consisted of predominately
lifecare (type-A) contracts. In 2017, Morningstar began offering a
fee for service (FFS, type-C) contract; over the past few years the
contract mix has shifted towards FFS. The majority of phase 5 and 6
residents are expected to select FFS contracts, which will continue
to shift the contract mix away from lifecare contracts, which Fitch
views as a credit positive given the high healthcare liability
associated with type-A contracts.

Over the last five years, the operating ratio has averaged 106.9%,
net operating margin (NOM) has averaged negative 0.5% and
NOM-adjusted averaged 11.2%. According to unaudited fiscal 2023
results, the operating ratio was a softer 114.3% and NOM was
negative 5.1%, while NOM-adjusted was a stronger 5.7% aided by
strong net entrance fee receipts. Softer core operating results in
fiscal 2023 are largely a result of costs pressures, specifically
agency labor use and elevated healthcare claim expenses, which were
higher compared to prior years.

However, management expects healthcare claims to normalize going
forward. Fitch expects additional revenues from Morningstar's
expansion project, improved census across service lines, shift to
FFS contracts and the community's efforts to contain costs and
manage labor challenges to produce gradually improving operating
metrics over the next several years.

Management actively invests in maintaining its existing facilities
and expanding the Heritage Village campus. Capex has averaged about
343% of depreciation expense over the past five years, resulting in
a good average age of plant of 10.5 years as of June 30, 2023.
Recent improvements to the Moravian Hall Square campus include
nursing home and common space renovations, upgrades to personal
care areas and roof replacements.

Additional projects in the outlook period may include a remodel of
Bethany House personal care units at Moravian Hall Square, adding
private showers and expanded closet space to each resident room.
Additionally, Morningstar continues to explore the potential of
adding ILUs to the Moravian Hall Square campus (which would require
a change to the local ordinance) and additional ILUs on owned
property contiguous to the Moravian Hall Square campus; however,
Fitch does not expect this to occur during the outlook period.

Fitch has incorporated into its analysis capital spending for
routine need and the completion of the current expansion project,
but additional debt or spending on potential projects for the
Moravian Hall Square campus have not been incorporated into the
current rating.

The current expansion project is being financed with privately
placed bank debt to pay for project costs ($37.2 million), fund 24
months of capitalized interest ($900,000), and refund the
outstanding series 2012 bonds ($21.3 million). Approximately $16.6
million of the newly issued debt will be short-term entrance fee
bonds that are expected to be repaid by approximately $19.5 million
in initial entrance fees. Phase 5 includes 21 cottages and Cooper
Center expansion; management reports 18 of the 21 units are sold
and expects move in's to be completed by the end of fiscal 2024.

While construction of the phase 6 units have not begun, it is
expected to be completed by fall 2025. Presales for phase 6 have
begun with 8 of 19 sites presold. Management is forecasting a
15-month fill up period for phase 5 and a seven-month fill up
period for phase 6, resulting in fiscal 2027 being the first full
year of project stabilization.

Following the series 2022 transaction, Morningstar's maximum annual
debt service (MADS) on permanent debt increased to about $5.2
million from about $4 million. The additional debt results in weak
capital-related metrics, with a high MADS to revenue of 16.9% in
fiscal 2023 revenues. History of debt to net available cashflow has
averaged a weak 18.1x over the last five years and revenue-only
MADS coverage is very limited at negative 0.1x in fiscal 2023.
Fitch expects key capital related metrics to gradually moderate as
the new ILUs generate revenues and cash flow and the associated
debt amortizes.

Financial Profile - 'bb'

Weaker Financial Profile

In context of Morningstar's midrange revenue defensibility
assessment and weak operating risk assessments, Fitch expects that
Morningstar will maintain a financial profile consistent with the
'bb' assessment despite the recent bank debt issued to fund the
ongoing expansion project.

As of June 30,2023, Fitch calculates Morningstar had approximately
$19.3 million of unrestricted cash and investments and $3.8 million
in Heritage Village escrow deposits that management expects will be
released to the organization by the Pennsylvania Insurance
department in the near term. Morningstar's unrestricted cash and
investments (excluding the escrow deposits) represented 241 days
cash on hand (DCOH) based on Fitch's calculation, which is neutral
to the assessment of Morningstar's financial profile. Including the
escrow deposits, Morningstar ended fiscal 2023 with approximately
$23.1 million of unrestricted cash and investments which translates
into cash-to-adjusted debt of 35.4%.

Fitch's forward-looking scenario analysis shows Morningstar
incrementally improving operating profitability through expense
management and revenue growth from the new expansion. Despite this,
Fitch expects Morningstar to maintain key liquidity and leverage
metrics consistent with the 'bb' financial profile in the near
term.

Asymmetric Additional Risk Considerations

No asymmetric risk considerations are relevant.

RATING SENSITIVITIES

Factors that Could, Individually or Collectively, Lead to Negative
Rating Action/Downgrade

- Inability to improve operating metrics, particularly if NOM and
NOMA are sustained below 0% and 15%, respectively;

- Deterioration of unrestricted cash and investments such that DCOH
is expected to be sustained below 200 days;

- Though not expected, softening ILU occupancy to be consistently
below 86%.

Factors that Could, Individually or Collectively, Lead to Positive
Rating Action/Upgrade

- An increase in unrestricted liquidity resulting in
cash-to-adjusted debt consistently at or above 50%;

- Coverage of pro forma MADS is expected to be consistently above
2x;

- Improved profitability metrics with operating ratio consistently
below 100% or NOM and NOMA consistently above 3% and 15%,
respectively.

PROFILE

Morningstar's Moravian Hall Square campus is located in Nazareth,
PA, within the Lehigh Valley area, approximately 70 miles north of
Philadelphia. The Moravian Hall Square campus has a health and
wellness center that maintains a five-star overall rating from the
Centers For Medicare & Medicaid Services. Moravian Hall Square sits
on approximately 16 acres.

Morningstar's Heritage Village campus is located one mile away in
Upper Nazareth Township. Phase 1 (19 cottages) was completed in
2018, Phase 2 (27 cottages and townhomes) was completed in 2019,
Phase 3 (21 cottages) was completed in 2022, Phase 4 (19 cottages)
was recently completed. The total Heritage Village campus when
fully built out will include up to 126 ILUs as currently designed.
The actual zoning for the Heritage Village campus would allow for
up to 167 units.

Sources of Information

In addition to the sources of information identified in Fitch's
applicable criteria specified below, this action was informed by
information from Lumesis.

ESG CONSIDERATIONS

The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit-neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.


MUELLERS AUTO: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Muellers Auto Recycling & Sales, Inc.
        1555 Mill Run Road
        Altoona, PA 16601

Business Description: The Debtor is an auto parts store in
                      Pennsylvania.

Chapter 11 Petition Date: September 8, 2023

Court: United States Bankruptcy Court
       Western District of Pennsylvania

Case No.: 23-70311

Debtor's Counsel: James R. Huff, II, Esq.
                  FORR, STOKAN, HUFF, KORMANSKI & NAUGLE
                  1701 5th Ave
                  Altoona, PA 16602
                  Tel: (814) 946-4316
                  Email: jhuff@sfshlaw.com
           
Total Assets: $3,198,675

Total Liabilities: $5,411,968

The petition was signed by John R. Mueller as president.

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

https://www.pacermonitor.com/view/DNINMEI/Muellers_Auto_Recycling__Sales__pawbke-23-70311__0001.0.pdf?mcid=tGE4TAMA


MUSIC GETAWAYS: Unsecureds Will Get 5 Cents on Dollar in Plan
-------------------------------------------------------------
Music Getaways LLC filed with the U.S. Bankruptcy Court for the
Central District of California an Amended Plan of Reorganization
for Small Business dated August 31, 2023.

The Debtor is a limited liability company. Since 2019, the Debtor
has been in the business of arranging and overseeing music events.

In January of 2023, Debtor arranged for 3 events scheduled at the
Hard Rock Punta Cana location, but while one of the events was
underway, the hotel cancelled the other two events with only 24
hours notice. This caused massive customer merchant chargebacks,
depleting Debtor's funds and causing major public relations
problems for future business.

Debtor entered Chapter 11 bankruptcy to continue its ongoing
business and repair its business reputation, while also repaying
existing debts. Debtor currently has four events on sale for 2023
in Los Cabos and Cancun.

Non-priority unsecured creditors holding allowed claims will
receive distributions, which the proponent of this Plan has valued
at approximately 5 cents on the dollar. This Plan also provides for
the payment of administrative and priority claims.

The final Plan payment is expected to be paid on January 1, 2029.

Class 3A consists of the unsecured claim of Royal Properties LLC
(Landlord). Treatment of Royal Properties LLC's claim shall be
pursuant to the Stipulation for Assumption of Lease Agreement As
Amended Re: 31280 Oak Crest Drive, Westlake Village, CA 91361;
Reaffirmation of Guaranties, and Allowance of General Unsecured
Claim ("Stipulation"). Pursuant to the Stipulation, Debtor shall
assume the Lease Agreement as amended in accordance with the Third
Amendment to Lease (the "Third Amendment"). The Third Amendment
provides, among other things, that the Debtor has surrendered
possession of Suite 2 as of July 31, 2023. The total agreed amount
for pre—petition rent Debtor owes to Landlord is $40,593.18. The
total agreed amount for post-petition rent Debtor owes to Landlord
as of August 15, 2023 is $43,508.72. The total pre-petition and
post-petition arrears owed to Landlord as of August 15, 2023 total
$84,101.90 (the "Cure Amount").

Debtor shall pay the Cure Amount as follows: beginning December 1,
2023 over 5 months at $16,820.38 per month. This is in addition to
all amounts owing for current rent as set forth in the Third
Amendment Debtor shall remain current on all rental obligations
under the Lease Agreement, as amended by the Third Amendment.
Landlord shall have an allowed general unsecured claim in the
amount of $258,298.47, consisting of all unpaid rent under the
Lease Agreement attributed to Suite 2 beginning as of August 1,
2023 through the end of the term of the Lease Agreement, less the
Net Amount actually recovered and/or due to Landlord under the
terms of any subsequent lease of Suite 2. Net Amount shall mean
gross rents received or due less any fees or expenses incurred by
Landlord for tenant improvements or broker's fees in connection
with such subsequent lease.

Class 3B consists of General Unsecured Creditors. Creditors in
Class 3B shall receive a 5% pro rata distribution of each of their
allowed claims at monthly payments, with the first payment due on
the Effective Date, followed by 59 consecutive payments thereafter,
each due on the 1st day of the month.

Class 4 consists of Equity security holders of the Debtor. Warren
Hill is owner and 100% shareholder of Debtor. He will retain his
interest in the Debtor as of the effective date. Mr. Hill does not
hold a pre-petition or post-petition claim against the Debtor.

Distribution to creditors under this Plan will be funded primarily
from the following sources: (a) the Debtor's cash on hand on the
Effective Date and (b) the net income derived from the continued
operation of the Debtor's business.

A full-text copy of the Amended Plan dated August 31, 2023 is
available at https://urlcurt.com/u?l=u8lo1T from PacerMonitor.com
at no charge.

Attorney for the Plan Proponent:

     Michael Jay Berger, Esq.
     Sofya Davtyan, Esq.
     Law Offices of Michael Jay Berger
     9454 Wilshire Blvd., 6th Floor
     Beverly Hills, CA 90212-2929
     Telephone: (310) 271-6223
     Facsimile: (310) 271-9805
     Email: michael.berger@bankruptcypower.com
            Sofya.davtyan@bankruptcypower.com

                    About Music Getaways

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

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

Judge Ronald A. Clifford III oversees the case.

The Law Offices of Michael Jay Berger is the Debtor's legal
counsel.


NATIONAL CINEMEDIA: CIT Provides $55M Revolving Credit Facility
---------------------------------------------------------------
First Citizens Bank on Sept. 7, 2023, disclosed that CIT
Northbridge Credit, as advised by First Citizens Institutional
Asset Management, LLC, provided a $55 million revolving credit
facility to National CineMedia LLC to support their emergence from

Chapter 11 bankruptcy.

National CineMedia operates the largest national cinema advertising
platform in North America, delivering premier video and digital
marketing solutions to local and national clients. The company
recently completed a financial restructuring process and emerged
from Chapter 11 bankruptcy after facing significant challenges due
to movie theater closures and limited movie releases during the
COVID-19 pandemic.

"We appreciate the streamlined financing process employed by CIT
Northbridge," said Ronnie Ng, Chief Financial Officer at National
CineMedia, Inc. "CIT Northbridge understands our unique market
position and developed financing tailored to our needs and our
renewed focus on providing best-in-class advertising solutions and
innovative data technology to our customers."

"National CineMedia's strategic growth plans are reinforced by
their nationwide footprint, competitive service offerings and
strong industry partnerships," said Neal Legan, who leads the team
that advises CIT Northbridge. "We are pleased to provide this
financing to support National CineMedia's business endeavors."

CIT Northbridge Credit is a trusted financial partner supporting
middle-market companies with a broad range of flexible asset-based
debt solutions. A joint venture advised by First Citizens
Institutional Asset Management, it provides revolving and term loan
commitments from $15 million to $150 million to companies across
various industries and business cycles, and serves primarily as
sole lender, agent, club participant or co-lender.

                   About First Citizens Bank

First Citizens Bank -- http://www.firstcitizens.com-- helps
personal, business, commercial and wealth clients build financial
strength that lasts. Headquartered in Raleigh, N.C., and now
celebrating the 125th anniversary of its founding, First Citizens
has built a unique legacy of strength, stability and long-term
thinking that has spanned generations. First Citizens offers an
array of general banking services including a network of more than
550 branches in 23 states and commercial banking expertise
delivering best-in-class lending, leasing and other financial
services coast to coast. Parent company First Citizens BancShares,
Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with
more than $200 billion in assets.

                    About National CineMedia

National CineMedia, LLC, a company in Centennial, Colo., owns the
largest cinema-advertising network in North America.  The company
derives its revenue principally from the sale of advertising to
national, regional, and local businesses, which is displayed on a
national and regional digital network of movie theaters.

National CineMedia filed a Chapter 11 petition (Bankr. S.D. Texas
Case No. 23-90291) on April 11, 2023, with $500 million to $1
billion in assets and $1 billion to $10 billion in liabilities.
Ronnie Ng, chief financial officer of National CineMedia, signed
the petition.

Judge David R. Jones presides over the case.

The Debtor tapped Paul, Weiss, Rifkind, Wharton & Garrison, LLP as
bankruptcy counsel; Porter Hedges, LLP as local counsel; Latham &
Watkins, LLP as special counsel; Lazard Freres & Co. as investment
banker; and FTI Consulting, Inc. as restructuring advisor. Omni
Agent Solutions is the Debtor's notice, claims and balloting
agent.

The U.S. Trustee for Region 7 appointed an official committee to
represent unsecured creditors in the Debtor's Chapter 11 case. The
committee tapped White & Case, LLP as bankruptcy counsel; Alvarez &
Marsal North America, LLC as financial advisor; and ArentFox Schiff
LLP as special conflicts counsel.


NEEDS LLC: Seeks to Hire Blackwood Law as Bankruptcy Counsel
------------------------------------------------------------
Needs, LLC seeks approval from the U.S. Bankruptcy Court for the
Eastern District of Oklahoma to hire Blackwood Law Firm, PLLC to
handle its Chapter 11 case.

The firm will charge $350 per hour for attorneys and $100 per hour
for legal assistants and law clerks.

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

Amanda Blackwood, Esq., an attorney at Blackwood Law Firm,
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:

     Amanda R. Blackwood, Esq.
     BLACKWOOD LAW FIRM, PLLC
     512 NW 12th Street
     Oklahoma City, OK 73103
     Telephone: (405) 309-3600
     Facsimile: (405) 378-4466
     Email: amanda@blackwoodlawfirm.com

                  About Needs, LLC

Needs, LLC operates a grocery store.

Needs, LLC filed its voluntary petition for relief under Chapter 11
of the Bankruptcy Code (Bankr. E.D. Okla. Case No. 23-12223) on
August 21, 2023. The petition was signed by Joseph Abbo as owner.
At the time of filing, the Debtor estimated $1,421,006 in assets
and $1,741,620 in liabilities. Gary D Hammond, Esq. at HAMMOND LAW
FIRM represents the Debtor as counsel.


NEEDS LLC: Seeks to Hire Hammond Law as Bankruptcy Counsel
----------------------------------------------------------
Needs, LLC seeks approval from the U.S. Bankruptcy Court for the
Eastern District of Oklahoma to hire Hammond Law Firm as to handle
its Chapter 11 case.

The firm will charge $400 per hour for attorneys and $80 per hour
for legal assistants and law clerks.

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

Gary Hammond, Esq., an attorney at Hammond Law Firm, disclosed in a
court filing that his firm is a "disinterested person" as that term
is defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Gary D. Hammond, Esq.
     HAMMOND LAW FIRM
     512 NW 12th Street
     Oklahoma City, OK 73103
     Telephone: (405) 216-0007
     Facsimile: (405) 232-6358
     Email: gary@okatty.com

                  About Needs, LLC

Needs, LLC operates a grocery store.

Needs, LLC filed its voluntary petition for relief under Chapter 11
of the Bankruptcy Code (Bankr. E.D. Okla. Case No. 23-12223) on
August 21, 2023. The petition was signed by Joseph Abbo as owner.
At the time of filing, the Debtor estimated $1,421,006 in assets
and $1,741,620 in liabilities. Gary D Hammond, Esq. at HAMMOND LAW
FIRM represents the Debtor as counsel.


NELKIN & NELKIN: Melissa Haselden Named Subchapter V Trustee
------------------------------------------------------------
The U.S. Trustee for Region 7 appointed Melissa Haselden, Esq., at
Haselden Farrow, PLLC as Subchapter V trustee for Nelkin & Nelkin
P.C.

Ms. Haselden will be paid an hourly fee of $500 for her services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.

Ms. Haselden declared that she is a disinterested person according
to Section 101(14) of the Bankruptcy Code.

The Subchapter V trustee can be reached at:

     Melissa A. Haselden, Esq.  
     Haselden Farrow, PLLC
     700 Milam, Suite 1300
     Pennzoil Place
     Houston, TX 77002
     Telephone: (832) 819-1149
     Facsimile: (866) 405-6038
     Email: mhaselden@haseldenfarrow.com

                      About Nelkin & Nelkin

Nelkin & Nelkin P.C. filed Chapter 11 petition (Bankr. S.D. Texas
Case No. 23-20245) on Aug. 25, 2023, with $10 million to $50
million in assets and $1 million to $10 million in liabilities.
Carol Nelkin, president, signed the petition.

Judge David R. Jones oversees the case.

Miriam Goot, Esq., at Walker & Patterson, P.C. represents the
Debtor as legal counsel.


NEONATOLOGIST ASSOCIATES: Unsecureds to Split $1K over 12 Months
----------------------------------------------------------------
Neonatologist Associates, P.S.C., filed with the U.S. Bankruptcy
Court for the District of Puerto Rico a Disclosure Statement
describing Small Business Plan of Reorganization dated September 3,
2023.

The Debtor is a corporation with a main purpose of providing
specialized neonatology medical services to hospitals located in
the western area of Puerto Rico; as well as to provide pediatric
services in this area.

With this bankruptcy petition, the corporation tries to obtain a
reduced payment plan in favor of "Hacienda", and to obtain a
payment plan for the payment of its mortgage with Oriental Bank. In
this way, the corporation will be able to continue operating and
providing its medical services.

Upon filing of this bankruptcy petition, Debtor has taken or will
take all necessary measures to reorganize business affairs. Debtor
complies or will be in compliance on or before the effective date
with the US Trustee Office Operating Guidelines including monthly
operating reports counting from the month of May 2023 to Final
Decree date.

Debtor seeks to establish a feasible plan to pay outstanding debts
with governmental agencies and other creditors, allowing the
corporation to maintain the business. Debtor informs that the
corporation will file Monthly Operating Reports for October 2019 on
or before December 10, 2019.

Class 6 consists of Unsecured Priority Claims. Debtor will pay the
entire priority claim portion through a monthly payment of
$1,002.60, no interest, for 60 months period or 5 years counting
from the effective date. Beginning December 31, 2023, until
November 30, 2028, or 5 years counting from the effective date
which is expected or estimated to be on December 31, 2028. Debtor
will pay $1,002.60 on the effective date which is estimated in
December 2023 and will continue making monthly regular payments of
$1,002.60 until November 30, 2028, for a total of $60,156.03.

Class 7 consists of General Unsecured Non-priorty Creditors. Total
general unsecured claimholder´s balance is $278,633.48. The debtor
will pay $1,000.00 with no interest, for the entire classification
within 1 year counting from the effective date.

It means that the entire class 7 shall receive at pro-rata of total
general unsecured nonpriority claims, a monthly payment in the
amount of $83.33 for 12 months counting from the effective date.
The total payments after 12 months will be $1,000.00 with no
interest. The debtor will distribute this monthly payment at pro
rata of each claimholder's claims or scheduled amount.

In the Debtor's case, in this corporation, the equity interest
belongs to Mr. Miguel Angel Suarez Villamil, M.D. He possesses 100%
interest of the stocks. Equity Security Interest Holders will not
receive any cash dividend throughout this plan. Moreover, any
payment on their behalf is subordinated to full payment of the
allowed claims as detailed in this plan.

Nonetheless, the equity security holder will retain his interest in
the reorganized Debtor by receiving a distribution of common stock
from the Reorganized Company equivalent to their current
participation in the Debtor. This class is ineligible to vote on
the Plan.

Funding the plan will be from the income collection from medical
insurance providers at hospitals in which the debtor has benefits
and from pediatrician office; and any other business that Debtor
will be engaged during the life of the Plan.

A full-text copy of the Disclosure Statement dated September 3,
2023 is available at https://urlcurt.com/u?l=5hsuwC from
PacerMonitor.com at no charge.

Attorney for Debtor:

     Jaime Rodriguez-Perez, Esq.
     Hatillo Law Office, PSC
     P.O. Box 678
     Hatillo, PR 00659
     Telephone: (787) 262-4848
     Email: hatillolawoffice@yahoo.com

               About Neonatologist Associates

Neonatologist Associates, PSC sought protection under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. D.P.R. Case No. 23-01393) on May
9, 2023, with as much as $1 million in both assets and liabilities.
Miguel A. Suarez Villamil, president of Neonatologist Associates,
signed the petition.

Judge Maria De Los Angeles Gonzalez oversees the case.

The Debtor tapped Jaime Rodriguez-Perez, Esq., at Hatillo Law
Office, PSC as legal counsel and Jose A. Toro-Mercado, CPA, CVA as
accountant.


NEW TROJAN: $110MM Bank Debt Trades at 54% Discount
---------------------------------------------------
Participations in a syndicated loan under which New Trojan Parent
Inc is a borrower were trading in the secondary market around 46.0
cents-on-the-dollar during the week ended Friday, September 8,
2023, according to Bloomberg's Evaluated Pricing service data.

The $110 million facility is a Term loan that is scheduled to
mature on January 6, 2029.  The amount is fully drawn and
outstanding.

New Trojan Parent, Inc. is the acquirer of Strategic Partners
Acquisition Corp., an indirect parent company of branded medical
apparel company Careismatic, Inc.



NUZEE INC: Tracy Ging Resigns as Director
-----------------------------------------
Tracy Ging, a member of the Board of Directors of NuZee, Inc.,
notified the Company of her resignation from the Board, including
her positions as a member of the Compensation Committee and
Nominating and Corporate Governance Committee, effective
immediately.  Ms. Ging has served on the Board since April 11,
2021.

According to the Company, Ms. Ging's decision to resign from the
Board was not the result of a disagreement with the Company on any
matter relating to the Company's operations, policies or practices.
The Company wishes to express gratitude to Ms. Ging for her
contributions to the Board.

                           About NuZee

NuZee, Inc. (d/b/a Coffee Blenders) is a co-packing company for
single serve coffee formats that partners with companies to help
them develop within the single serve and private label coffee
category.

Nuzee reported a net loss of $11.80 million for the year ended
Sept. 30, 2022, a net loss of $18.55 million for the year ended
Sept. 30, 2021, a net loss of $9.52 million for the year ended
Sept. 30, 2020, and a net loss of $12.21 million for the year
ended Sept. 30, 2019.

Houston, Texas-based MaloneBailey, LLP, the Company's auditor since
2013, issued a "going concern" qualification in its report dated
Dec. 23, 2022, citing that the Company has suffered recurring
losses and negative cash flows from operations that raises
substantial doubt about its ability to continue as a going concern.


NXT ENERGY: Signs Contract to Provide SFD Survey in Turkiye
-----------------------------------------------------------
NXT Energy Solutions Inc. announced that it has executed a contract
to provide an SFD survey to an independent oil and gas exploration
company in Turkiye, which is strategically located at the junction
of Eastern Europe, Central Asia and the Middle East.  Data
acquisition operations for this contract are expected to commence
in October 2023, and NXT's interpretations and recommendations are
expected to be delivered during the fourth quarter of 2023.

Bruce G. Wilcox, interim CEO of NXT, stated "I believe this new
contract will play a key role in new business development in
Turkiye and the nearby geography.  I would like to thank the entire
NXT team for their efforts in finalizing this agreement with a new
SFD client, and would also like to thank NXT's shareholders for
their continued support of the Company."

                          About NXT Energy

NXT Energy Solutions Inc. is a Calgary-based technology company
whose proprietary SFD survey system utilizes quantum-scale sensors
to detect gravity field perturbations in an airborne survey method
which can be used both onshore and offshore to remotely identify
areas with exploration potential for traps and reservoirs.  The SFD
survey system enables the Company's clients to focus their
hydrocarbon exploration decisions concerning land commitments, data
acquisition expenditures and prospect prioritization on areas with
the greatest potential.  SFD is environmentally friendly and
unaffected by ground security issues or difficult terrain and is
the registered trademark of NXT Energy Solutions Inc.  NXT Energy
Solutions provides its clients with an effective and reliable
method to reduce time, costs, and risks related to exploration.

NXT Energy a net loss and comprehensive loss of C$6.73 million in
2022, a net loss and comprehensive loss of C$3.12 million in 2021,
a net loss and comprehensive loss of $6.03 million in 2020.

Calgary, Canada-based KPMG LLP, the Company's auditor since 2006,
issued a "going concern" qualification in its report dated March
31, 2023, citing that the Company's current and forecasted cash and
cash equivalents and short-term investments position are not
expected to be sufficient to meet its obligations which raises
substantial doubt about its ability to continue as a going concern.


OFF LEASE: Files Voluntary Chapter 11 Bankruptcy Petition
---------------------------------------------------------
Off Lease Only and certain of its affiliates on Sept. 7, 2023,
disclosed that the Company has voluntarily filed for protection
under Chapter 11 of the U.S. Bankruptcy Code in the District of
Delaware to pursue an orderly wind down of its business.

The Company made this decision due to the significant challenges
and competitive pressures resulting from unprecedented changes to
the automotive retail landscape. The industry has been impacted by
inventory scarcity, and vehicle price inflation stemming from
supply chain disruptions and multi-year declines in new vehicle
production. Elevated pricing and rising interest rates have further
deteriorated conditions in the automotive retail market, weakening
consumer demand and affordability.

Off Lease Only has explored a range of strategic options; however,
industry headwinds coupled with the decreased affordability of used
vehicles have necessitated the decision to pursue an orderly wind
down of the business.

For more information about Off Lease Only's Chapter 11 case, please
visit https://cases.stretto.com/OLO.

Off Lease Only is represented by Proskauer Rose LLP as legal
counsel and FTI Consulting as financial advisor.


OLAPLEX INC: $675MM Bank Debt Trades at 16% Discount
----------------------------------------------------
Participations in a syndicated loan under which Olaplex Inc is a
borrower were trading in the secondary market around 83.6
cents-on-the-dollar during the week ended Friday, September 8,
2023, according to Bloomberg's Evaluated Pricing service data.

The $675 million facility is a Term loan that is scheduled to
mature on February 23, 2029.  About $666.6 million of the loan is
withdrawn and outstanding.

Olaplex, Inc. is a producer of specialty haircare products
featuring a proprietary, patented formula to protect and restore
damaged hair. The company's products focus on repairing the
chemical bonds in hair that are damaged by coloring and other
treatments. The company develops, markets, and distributes its
products throughout the US and to over 60 countries around the
world. Olaplex generated $632 million of revenue for the 12 months
ending March 31, 2023. Private equity firm Advent International
acquired the company in a leveraged buyout in January 2020 and
currently owns approximately 77% of the company. Olaplex's parent
company Olaplex Holdings, Inc. (NASDAQ: OLPX) is publicly traded
since September 2021.



OMNIQ CORP: Receives Purchase Order From Israel Train Company
-------------------------------------------------------------
OMNIQ Corp. announced an initial purchase order from the Israel
Train Company to deploy its AI based Machine Vision system creating
smarter and safer stations.

In a strategic move, omniQ will initiate the project at three key
train stations, setting the stage for a transformational shift in
the way the Company approaches passenger safety and comfort.  This
project leverages omniQ's innovative AI-driven Machine Vision
system, which integrates specialized cameras meticulously
positioned across station platforms.  Powered by proprietary AI
software, developed using state-of-the-art deep learning
techniques, this system excels in real-time analysis of captured
imagery.  This innovative system can potentially be installed in
every platform in trains and subways stations worldwide creating a
significant potential market for OMNIQ.

At the core of this technology is its ability to generate dynamic
'heat maps,' providing a clear visualization of passenger density
along the platform.  Beyond mere data, these heat maps offer
actionable recommendations to station staff and incoming
passengers, guiding them to areas with lower crowd density.  This
results in intelligent distribution of passengers that optimizes
platform usage, mitigates cabin overcrowding, and enhances overall
passenger comfort.

In addition, the AI-powered system also observes passenger
behavior, swiftly identifying instances where passengers cross
safety boundaries while awaiting train arrivals, playing a pivotal
role in maintaining passenger safety and preventing potential
accidents.

This multifaceted system promises to be a game-changer, elevating
passenger experiences, fortifying safety measures, and redefining
station management.

Shai Lustgarten, CEO of OMNIQ Corp stated "We are proud to announce
this breakthrough project ordered by the Government owned Israel
Train Company as part of a national effort to improve the services
and safety using Artificial Intelligence.  Our goal is to swiftly
demonstrate the tangible benefits of our system, paving the way for
expanded collaborations with the Israel Train Company and potential
deployments in train and subway stations across the United States
and around the world.  The collaboration marks a significant step
toward a smarter, safer, and more efficient future in railway
transportation and we look forward to great success."

                        About omniQ Corp.

Headquartered in Salt Lake City, Utah, omniQ Corp. (OTCQB: OMQS) --
http://www.omniq.com-- provides computerized and machine vision
image processing solutions that use patented and proprietary AI
technology to deliver data collection, real time surveillance and
monitoring for supply chain management, homeland security, public
safety, traffic and parking management and access control
applications.  The technology and services provided by the Company
help clients move people, assets and data safely and securely
through airports, warehouses, schools, national borders, and many
other applications and environments.

Omniq Corp reported a net loss of $13.61 million for the year ended
Dec. 31, 2022, compared to a net loss of $13.14 million for the
year ended Dec. 31, 2021. As of March 31, 2023, the Company had
$68.47 million in total assets, $81.31 million in total
liabilities, and a total stockholders' deficit of $12.84 million.

Salt Lake City, Utah-based Haynie & Company, the Company's auditor
since 2019, issued a "going concern" qualification in its report
dated March 30, 2023, citing that the Company has a deficit in
stockholders' equity, and has sustained recurring losses from
operations.  This raises substantial doubt about the Company's
ability to continue as a going concern.


PALACE AT WASHINGTON: Taps Reno Fernandez as General Counsel
------------------------------------------------------------
The Palace at Washington Square, LLC seeks approval from the U.S.
Bankruptcy Court for the Northern District of California to hire
the Law Offices of Reno Fernandez as its general bankruptcy
counsel.

The Debtor requires the assistance of the counsel with respect to:

     a. the requirements of the Bankruptcy Code with respect to its
operation as Debtor-in-Possession;

     b. operating matters and filing of reports;

     c. interaction with the Subchapter V Trustee;

     d. administration of claims, including the evaluation of
timely filed Proofs of Claim;

     e. formulation and prosecution of the plan of reorganization;
and

     f. other general legal services in the course of its Chapter
11 proceedings.

The firm charges $415 per hour for its services.

The retainer fee is $25,000.

Reno Fernandez, Esq., principal of the Law Offices of Reno
Fernandez, assured the court that his firm is a "disinterested
person", as defined in 11 U.S.C. Section 101(14).

The firm can be reached through:

     Reno Fernandez, Esq.
     LAW OFFICES OF RENO FERNANDEZ
     1001 Madison Street
     Benicia CA 94510
     Tel: 805-729-5298
     Email: reno@highercourt.us

     About The Palace at Washington

The Palace at Washington Square, LLC is a San Francisco-based
company engaged in activities related to real estate.

The Debtor filed Chapter 11 petition (Bankr. N.D. Calif. Case No.
23-30519) on July 31, 2023, with $1,958,560 in assets and
$1,717,638 in liabilities. Edward Schmitt Jr., vice president,
signed the petition.

Reno Fernandez, Esq., at the Law Offices of Reno Fernandez
represents the Debtor as legal counsel.


PAO BAY INVESTMENT: Seeks to Hire Scott Alan Orth as Attorney
-------------------------------------------------------------
Pao Bay Investment Corp received approval from the U.S. Bankruptcy
Court for the Southern District of Florida to employ the Law
Offices of Scott Alan Orth, P.A.

The Debtors require legal counsel to:

     a. give advice with respect to the powers and duties of the
Debtors in the continued management of their business operations;

     b. give advice with respect to the responsibilities of the
Debtors in complying with the U.S. Trustee's Operating Guidelines
and Reporting Requirements and with the rules of the court;

     c. prepare legal documents;

     d. protect the interest of the Debtors in all matters pending
before the court; and

     e. represent the Debtor in negotiation with creditors in the
preparation of a Chapter 11 plan.

The firm will be paid based upon their normal and usual hourly
billing rates and will be reimbursed for out-of-pocket expenses
incurred.

The firm received the filing fee plus $3,262 prepetition to advise
the Debtor as to Chapter 11 proceedings.

Scott Alan Orth, Esq., a partner at the Law Offices of Scott Alan
Orth, disclosed in a court filing that his firm is a "disinterested
person" pursuant to Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Scott Alan Orth, Esq.
     LAW OFFICES OF SCOTT ALAN ORTH, P.A.
     3860 Sheridan St STE A
     Hollywood, FL 33021
     Tel: (305) 757-3300
     Email: scott@orthlawoffice.com

                About Pao Bay Investment Corp

Pao Bay Investment Corp is engaged in activities related to real
estate.

Pao Bay Investment Corp filed its voluntary petition for relief
under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Fla. Case No.
23-15800) on July 25, 2023. The petition was signed by Paola Oramas
as president. At the time of filing, the Debtor estimated $1
million to $10 million in both assets and liabilities.

Scott Alan Orth, Esq. at the Law Offices of Scott Alan Orth, PA
represents the Debtor as counsel.


PEACHSTATE PEDALING: Unsecureds Will Get 9.36% of Claims in Plan
----------------------------------------------------------------
Peachstate Pedaling, LLC, filed with the U.S. Bankruptcy Court for
the Northern District of Georgia a Plan of Reorganization under
Subchapter V dated September 5, 2023.

Debtor is a family-run brick and mortar retailer that sells
electronic bicycles as Electrobike Georgia and has operated since
2015. Debtor has one shareholder, Eric Hunger, who operates the
business with his wife and daughter.

The Debtor has unencumbered assets totaling approximately $37,500,
with general unsecured claims totaling $692,218.

This Plan deals with all property of Debtor and provides for
treatment of all Claims against Debtor and its property.

Class 4 shall consist of General Unsecured Claims including any
potential deficiency claims. This Class will receive a distribution
of 9.36% of their allowed claims.

If the Plan is confirmed under Section 1191(a) of the Bankruptcy
Code, Debtor shall pay the General Unsecured Creditors quarterly
installment payments of $5,400.00 commencing on the first day of
the full quarter immediately following the Effective Date and
continuing on the 1st day of each quarter through and including the
12th quarter following the Effective Date. General Unsecured
Creditors will receive 12 disbursements totaling $64,800.00.

If the Plan is confirmed under Section 1191(b) of the Bankruptcy
Code, Class 4 shall be treated the same as if the Plan was
confirmed under Section 1191(a) of the Bankruptcy Code. The Claims
of the Class 4 Creditors are Impaired by the Plan, and the holders
of Class 4 Claims are entitled to vote to accept or reject the
Plan.

Class 5 consists of Eric Hunger as the only equity interest holder
of the Debtor. Mr. Hunger shall retain his interest in the
reorganized Debtor as the 100% owner of its outstanding membership
interests.

Upon confirmation, Debtor will be charged with administration of
the Plan. Debtor will be authorized and empowered to take such
actions as are required to effectuate the Plan.

The source of funds for the payments pursuant to the Plan is
Debtor's continued business operations.

A full-text copy of the Plan of Reorganization dated September 5,
2023 is available at https://urlcurt.com/u?l=LDC9F1 from
PacerMonitor.com at no charge.

Attorneys for Debtor:
   
     William A. Rountree, Esq.
     Rountree Leitman Klein & Geer, LLC
     Century Plaza I
     2987 Clairmont Road, Suite 350
     Atlanta, GA 30329
     Telephone: (404) 584-1238
     Facsimile: (404) 704-0246
     Email: wrountree@rlkglaw.com

                    About Peachstate Pedaling

Peachstate Pedaling, LLC sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 23-55307) on June 6,
2023, with up to $100,000 in assets and up to $10 million in
liabilities.  Eric Hunger, owner, signed the petition.

Judge Jeffery W. Cavender oversees the case.

Will Geer, Esq., at Rountree, Leitman, Klein & Geer, LLC, is the
Debtor's legal counsel.


PECF USS INTERMEDIATE: $2BB Bank Debt Trades at 20% Discount
------------------------------------------------------------
Participations in a syndicated loan under which PECF USS
Intermediate Holding III Corp is a borrower were trading in the
secondary market around 80.3 cents-on-the-dollar during the week
ended Friday, September 8, 2023, according to Bloomberg's Evaluated
Pricing service data.

The $2 billion facility is a Term loan that is scheduled to mature
on December 15, 2028.  About $1.97 billion of the loan is withdrawn
and outstanding.

PECF USS Intermediate Holding III Corporation is the issuing entity
for a debt extended to United Site Services Inc., a provider of
portable sanitation and related site services.




PERFORMANCE RESULTS: Wins Interim Cash Collateral Access
--------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Ohio,
Eastern Division, authorized Performance Results Plus, Inc. to use
cash collateral on an interim basis in accordance with the budget.

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

The Debtor represents that The Huntington National Bank have or may
claim to have security interests in the Debtor's cash  collateral.

The Debtor's initial pre-petition secured lender was HNB. On
November 19, 2020, the Debtor, through the U.S. Small Business
Administration, entered into a business loan agreement with HNB for
a loan in the principal amount of $2.217 million. On the same date,
the Debtor entered into a line of credit with HNB in the principal
amount of $250,000.

The Debtor believes that HNB is secured by two assets that
constitute "cash collateral" under 11 U.S.C. Section 363: the
Debtor's accounts receivable, with an estimated value of $55,000 as
of the Petition Date, as well as the cash in the Debtor's checking
account maintained at HNB, with a balance of approximately $25,000
as of the Petition Date. In addition to the HNB Account, the Debtor
maintains a deposit account at KeyBank with a balance of
approximately $1,900.

Although the Secured Creditor's loan documents purport to take a
security interest in all "deposit accounts," the Secured Creditor
failed to take steps necessary to maintain a secured interest in
the Debtor's KeyBank Account.

Because the Debtor could avoid the unperfected security interests
of HNB in the KeyBank Account pursuant to Section 544 of the
Bankruptcy Code, HNB does not have an interest in cash collateral
held in those accounts pursuant to 11 U.S.C. Section 363.

The security interests of HNB, if any, in cash collateral are
continued and re-granted in the same amount and to the same extent,
validity and priority as existed immediately prior to the Petition
Date, and HNB will not be required to take any other action to
perfect the lien(s) re-granted to them thereunder.

HNB is not granted liens or security interests in any avoidance
actions that may be pursued pursuant to the Bankruptcy Code or
other applicable law or in the proceeds from any avoidance action.


A Termination Event will be deemed to have occurred five business
days after written notice sent by HNB to the Debtor, its counsel,
the Subchapter V Trustee, and the U.S. Trustee of the occurrence of
any of the following:

     (i) the payment or incurrence by the Debtor of any material
expense of a type not set forth in the Budget;
    (ii) the payment of any expenses that would cause the aggregate
expenditures under the Budget for any monthly period to exceed the
amount set forth in the Budget for such month by 20%. Any budgeted
expenditures not paid in a particular budget period may be carried
forward into a subsequent budget period. Expenditures, other than
legal or other professional fees, may be paid in an earlier period
in the reasonable discretion of the Debtor, in which event, the
Budget will be deemed amended to move the expenditure into the
month of the actual expenditure for the purpose of calculating
rolling monthly variances set forth above. The Debtor will provide
a written explanation in reasonable detail explaining the amount of
and the reason for the prepayment or delay in payment.
     (iii) the failure of the Debtor to pay, within 10 days of the
applicable due date, all undisputed administrative expenses in full
in accordance with their terms as provided for in the Budget except
for any expenses under U.S.C. sections 503(b)(9) and/or 546(c);
     (iv) the failure of the Debtor to timely pay all fees due
under 28 U.S.C. section 1930; and
      (v) the failure of the Debtor to comply with, keep, observe
or perform any of its agreements or undertakings under the Interim
Order.

The Debtor's authority to use cash collateral will automatically
and immediately terminate without any further action by HNB or the
Court and a Termination Event will occur without prior notice upon
the occurrence of any of the following:

     (i) the Debtor's Chapter 11 case is dismissed or converted to
a case under Chapter 7 of the Bankruptcy Code;
    (ii) the earlier of (y) the date of the entry of an order of
the Court appointing an examiner with enlarged powers (beyond those
set forth in Sections 1104(c) and 1106(a)(3) and (4) of the
Bankruptcy Code) for the Debtor; or (z) the date the Debtor files a
motion, application or other pleading consenting to or acquiescing
in any such appointment; or
   (iii) the Court suspends the Debtor's Chapter 11 Case under 11
U.S.C. section 305.

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

               About Performance Results Plus, Inc.

Performance Results Plus, Inc. owns and operates a hydraulic
machine shop. The Debtor sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. S.D. Ohio Case No. 23-52960) on August
28, 2023. In the petition signed by Michael L. Adkins, president,
the Debtor disclosed $3,219,882 in assets and $3,128,718 in
liabilities.

Judge Kathryn Preston oversees the case.

John W. Kennedy, Esq., at Strip Hoppers Leithart McGrath & Terlecky
Co., LPA, represents the Debtor as legal counsel.


PERMIAN RESOURCES: Moody's Rates New $500MM Unsecured Notes 'B2'
----------------------------------------------------------------
Moody's Investors Service assigned a B2 rating to Permian Resources
Operating, LLC's proposed $500 million senior unsecured notes due
2032. Permian Resources' other ratings, including the B1 Corporate
Family Rating, and positive outlook remain unchanged.

Permian Resources will use net proceeds from its proposed bond
offering to repay borrowings on its revolving credit facility and
to prefund a portion of its acquisition of Earthstone Energy, Inc.
(Earthstone). The stock-for-stock transaction was valued at about
$4.5 billion, including Earthstone's net debt. The transaction has
been unanimously approved by the boards of directors of both
Permian Resources and Earthstone. Permian Resources expects to
close the transaction by the end of 2023, subject to regulatory and
shareholder approvals. A special mandatory redemption feature
requires the notes to be redeemed in the event the acquisition is
not completed by April 21, 2024.

Assignments:

Issuer: Permian Resources Operating, LLC

Backed Senior Unsecured Regular Bond/Debenture, Assigned B2

RATINGS RATIONALE

Permian Resource's senior unsecured notes are rated B2. This is one
notch below the B1 CFR and reflects effective subordination to the
senior secured revolver.

Permian Resources' B1 CFR reflects the company's low cost of
operations and concentrated though high quality acreage in the
Permian Basin, a top-tier oil producing region. The acquisition of
Earthstone will enhance Permian Resources' position in the Permian
Basin, creating synergy opportunities and increased economies of
scale. Permian Resources and Earthstone have been active acquirors
in the Permian Basin. Permian Resources was formed via the merger
of Centennial Resource Production, LLC and Colgate Energy Partners
III, LLC in September 2022, another transaction which also
contributed to Permian Resources' growth. In August 2023,
Earthstone closed on the acquisition of Novo Oil & Gas Holdings,
Inc. (Novo), another company with assets in the Permian.
Consideration included about $1.4 billion of cash (after taking
into account preliminary purchase price adjustments at close). Upon
closing, Earthstone sold a one-third interest in Novo's oil and gas
interests to Northern Oil and Gas, Inc. (B1 stable). Earthstone
received about $468 million for this divestiture (this amount is
net of preliminary purchase price adjustments).

The acquisition of Earthstone will add about 223,000 net acres in
the Permian Basin, increasing Permian Resources' net acreage to
over 400,000 net acres. Pro forma production for the combined
companies is approximately 300 Mboe/d. The companies expect to
realize annual synergies of about $175 million. The company will
need to demonstrate that it can generate competitive returns on
investment from its consolidated drilling activities. Following the
acquisition, Permian Resources' variable dividend program will
continue, with the company targeting the distribution of at least
50% of free cash flow, after the base dividend, via variable
dividends and share repurchases. The company plans to increase its
base dividend by 20% to $0.06 per share beginning in the first
quarter of 2024. The company has a long-term leverage target of
0.5x – 1.0x.

Permian Resources' SGL-1 rating reflects Moody's expectation for
the company to maintain very good liquidity through 2024. Permian
Resources will have to fund borrowings that Earthstone incurred on
its revolver to fund the acquisition of Novo. Prefunding a portion
of these borrowings with proceeds from the bond offering reduces
the amount that Permian Resources will need to fund on its own
revolver, preserving borrowing capacity. Before considering this
bond offering, the combined company expected to have less than $1
billion drawn on the revolver and over $1 billion of liquidity at
closing. Permian Resources has secured a $500 million incremental
commitment under its revolving credit facility due February 2027,
which will increase aggregate lender commitments from $1.5 billion
to $2 billion. As of June 30, 2023, $300 million of borrowings were
outstanding on the revolver.

Permian Resources' positive outlook reflects the benefits of rising
scale in the Permian Basin and improving credit metrics. The
pending acquisition of Earthstone further enhances scale and could
bolster credit metrics. However, this is another very large
acquisition that entails inherent valuation and execution risks.

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

Factors that could lead to an upgrade include successful
achievement of cost synergies; debt repayment; a leveraged full
cycle ratio (LFCR) sustained above 2.0x; and retained cash flow
(RCF) to debt maintained above 40%.

Factors that could lead to a downgrade include weakening liquidity;
negative free cash flow; or RCF/debt below 25%.

Permian Resources Operating, LLC is a subsidiary of Permian
Resources Corporation, a publicly traded exploration and production
company operating in the Permian Basin and headquartered in
Midland, Texas. Upon closing of the acquisition, Permian Resources
shareholders will own about 73% of the combined company and
Earthstone shareholders will own about 27%.

The principal methodology used in this rating was Independent
Exploration and Production published in December 2022.


PETES AUTO: Bid to Use Cash Collateral Denied
---------------------------------------------
The U.S. Bankruptcy Court for the District of Connecticut denied
the motion to use cash collateral filed by Pete's Auto Sales &
Service, LLC for the reasons stated on the record during hearing
held on August 31, 2023.

The Court said that any further use of cash collateral is
prohibited, restricted and enjoined and such funds are to be
segregated and accounted for. There will be no further sale
transactions without order of the court.

As previously reported by the Troubled Company Reporter, on January
6, 2021, the Debtor executed a Floorplan Note in the principal
amount of $50,000in favor of Shamrock Finance, LLC.

The Shamrock Note is validly perfected by virtue of Financing
Statement filed with the Connecticut Secretary of State dated
January 6, 2021.

On February 19, 2021, the Debtor executed Receivables Purchase
Agreement in the principal amount of $40,000 in favor of Lendora
Capital, LLC which is secured by a security interest in all of the
Debtor's future receivables, inventory equipment, goods, accounts
investment property, and other personal property and assets.

The Lendora Agreement is validly perfected by virtue of an Original
Financing Statement filed with the Connecticut Secretary of State
dated March 3, 2021.

The Debtor's cash receipts constitute collateral pledged to the
Shamrock Note and Lendora Agreement pursuant to the security
instruments associated with each promissory note.

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

              About Petes Auto Sales and Service, LLC

Petes Auto Sales and Service, LLC is engaged in the business of
auto sales and service, with its garage located in Norwich,
Connecticut.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Conn. Case No. 23-20344) on May 5, 2023.
In the petition signed by Jody Kenyon, member, the Debtor disclosed
up to $500,000 in both assets and liabilities.

Judge James J. Tancredi oversees the case.

Gregory F. Arcaro, Esq., at Advanced Bankruptcy Legal Services of
Connecticut, represents the Debtor as legal counsel.


PGX HOLDINGS: Seeks Approval of Disclosure Statement
----------------------------------------------------
PGX Holdings, Inc., et al. submitted a motion of debtors for entry
of an order approving the adequacy of the disclosure statement on
an interim and final basis, and granting related relief.

A hearing on the Motion is scheduled for Sept. 18, 2023, at 2:00 PM
at US Bankruptcy Court, 824 Market St., 3rd Fl., Courtroom #7,
Wilmington, Delaware.  Objections are due by Sept. 11, 2023.

The Debtors seek approval of this motion to permit the Debtors to
begin solicitation of votes on the Plan and to combine the hearings
on final approval of the Disclosure Statement and Confirmation of
the Plan. Based on the circumstances of these Chapter 11 cases, the
Debtors believe the expedited solicitation and hearing process
proposed herein is reasonable and does not unfairly prejudice any
creditors. All creditors and parties in interest with appropriate
standing will be afforded adequate time to review the Plan and
Disclosure Statement prior to the objection deadline. Moreover,
this combined process will streamline and facilitate the Debtors'
wind down of their estates on an expedited basis, minimize the
go-forward costs of the Chapter 11 process, and allow for a swift
resolution of these Chapter 11 cases. Accordingly, the Debtors seek
(i) interim approval of the Disclosure Statement to enable the
Debtors to immediately begin soliciting votes on the Plan and (ii)
to set a combined hearing on final approval of the Disclosure
Statement and Confirmation of the Plan for October 27, 2023.

Following the commencement of these Chapter 11 cases in June, the
Debtors engaged in an extensive marketing process to obtain the
highest and best offer for the Debtors' Assets and deliver the
Debtors' stakeholders a value-maximizing outcome. Additionally, the
Debtors have engaged in multilateral, hard-fought, good faith,
arms'-length negotiations with their stakeholders and the
Committee. Such negotiations resulted in the Global Settlement with
the Committee, the terms of which are implemented in the Plan. The
Global Settlement contemplated in the Plan minimizes administrative
costs, maximizes stakeholder recoveries, and facilitates a swift
exit from Chapter 11. As a final step to the Chapter 11 process,
the Plan—together with an integrated Confirmation schedule—is
designed to bring an orderly and efficient conclusion to these
Chapter 11 cases. Prosecuting the Plan and Disclosure Statement on
a combined basis as set forth herein is essential to that end.

Co-Counsel to the Debtors:

     Domenic E. Pacitti, Esq.
     Michael W. Yurkewicz, Esq.
     KLEHR HARRISON HARVEY BRANZBURG LLP
     919 North Market Street, Suite 1000
     Wilmington, DE 19801
     Telephone: (302) 426-1189
     Facsimile: (302) 426-9193
     E-mail: dpacitti@klehr.com
             myurkewicz@klehr.com

          - and -

     Morton R. Branzburg, Esq.
     1835 Market Street, Suite 1400
     Philadelphia, PA 19103
     Telephone: (215) 569-3007
     Facsimile: (215) 568-6603
     E-mail: mbranzburg@klehr.com

     Joshua A. Sussberg, P.C.
     KIRKLAND & ELLIS LLP KIRKLAND & ELLIS INTERNATIONAL LLP
     601 Lexington Ave
     New York, NY 10022
     Telephone: (212) 446-4800
     Facsimile: (212) 446-4900
     E-mail: joshua.sussberg@kirkland.com

          - and -

     Spencer A. Winters, Esq.
     Whitney C. Fogelberg, Esq.
     Alison J. Wirtz, Esq.
     300 North LaSalle
     Chicago, IL 60654
     Telephone: (312) 862-2000
     Facsimile: (312) 862-2200
     E-mail: spencer.winters@kirkland.com
             whitney.fogelberg@kirkland.com
             alison.wirtz@kirkland.com

                     About PGX Holdings

PGX Holdings, Inc. and affiliates are credit repair service
providers, helping customers repair their credit and achieve their
credit goals. PGX Holdings help consumers access and understand the
information contained in their credit reports, ensure that the
information contained in those reports is fair, accurate, and
complete, and address other factors that may negatively impact
their credit scores.

The Debtors sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Lead Case No. 23-10718) on June 4,
2023. In the petition signed by Chad Wallace, chief executive
officer and president, the Debtor disclosed up to $500 million in
assets and up to $10 billion in liabilities.

Judge Craig T. Goldblatt oversees the case.

Kirkland and Ellis LLP, Kirkland and Ellis International LLP, and
300 North LaSalle represents the Debtor as bankruptcy counsel.

The Debtors also tapped Klehr Harrison Harvey Branzburg LLP as
local bankruptcy counsel, Alvarez & Marsal North America, LLC as
financial advisor, Greenhill and Co., LLC as investment banker,
Kurtzman Carson Consultants LLC as notice and claims agent, and
Landis Rath and Cobb as conflicts counsel.

King & Spalding, LLP, and Morris, Nichols, Arsht & Tunnell LLP,
serve as counsel to Blue Torch Finance LLC, as DIP Agent and
Prepetition First Lien Agent, and the Prepetition First Lien
Lenders. Clyde & Co US LLP, serves as special counsel to the DIP
Agent, the Prepetition First Lien Agent, and the Prepetition First
Lien Lenders.

Proskauer Rose LLP, is counsel to Prospect Capital Corporation, in
its capacity as DIP Lender and lender under the Prepetition First
Lien Credit Agreement. Morris, Nichols, Arsht & Tunnell LLP, is
local counsel to Prospect Capital.


PJ TRANS: Court OKs Cash Collateral Access Thru Oct 3
-----------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Illinois,
Eastern Division, authorized PJ Trans, Inc. to use cash collateral
on an interim basis in accordance with the budget and the August 8,
2023 Order.

As previously reported by the Troubled Company Reporter, before the
Petition Date, on January 27, 2015, the Debtor entered into a
Factoring Agreement with RTS Financial Service, Inc. Pursuant to
the Pre-Petition Factoring Agreement, the Debtor routinely sold its
accounts receivable from a portion of its business to RTS.

To secure the obligations under the Pre-Petition Factoring
Agreement, the Debtor granted RTS a security interest in all of the
Debtor's assets including but not limited to all accounts and all
proceeds and monies due on accounts, which includes cash
collateral.

This security interest was properly perfected and constituted a
first-priority lien on the Pre-Petition Collateral.

The Debtor filed for bankruptcy without finalizing agreements for
post-petition arrangements, cash collateral usage, or
debtor-in-possession financing. However, in order to prevent
disruption to the Debtor's business, RTS provided factoring
services based on the terms of the Pre-Petition Factoring
Agreement. This included purchasing $101,104 of the Debtor's
accounts receivable on July 21, 2023, advancing $74,000 from the
Debtor's reserve account on July 26, and purchasing an additional
$101,499 of accounts receivable on July 28, 2023. The Debtor has
agreed to repay the $74,000 advance from the reserve account
through weekly payments from post-petition purchases by August 11,
2023. The Debtor is also allowed to offset pre or post-petition
receivables from post-petition factoring services according to the
terms of the Pre-Petition Factoring Agreement and Post-Petition
Factoring Agreement.

RTS was willing to continue the factoring arrangement post-petition
on the terms outlined in the Motion and in the terms of the
Factoring Agreement dated July 26, 2023.

Under the terms of the Pre-Petition Factoring Agreement and the
Post-Petition Factoring Agreement, RTS was granted an ownership
interest in the purchased accounts and a security interest in the
collateral set out in Section 4.1 of the factoring agreement.

The Debtor has not identified any other creditors that appear to
hold a security interest in the cash collateral.

The Debtor wished to implement the Post-Petition Factoring
Agreement with RTS on a post-petition basis, retroactive to the
Petition Date. If the Factoring Agreement is approved by the Court,
the Debtor will sell its accounts to RTS, and the funds obtained
from the sale of such accounts will be used to fund the ongoing
expenses of the Debtor's bankruptcy estate.

The purchases and advances by RTS and proceeds from non-factored
accounts constitute cash collateral of RTS as defined in 11 U.S.C.
Section 363(a). The proceeds of the accounts are used by the Debtor
to operate, including to pay the Debtor's payroll, insurance,
utilities, operating costs, and material acquisitions.

As adequate protection for the use of cash collateral, RTS was
granted: (i) first-ranked, priority liens on the on all
Pre-Petition Collateral, which Replacement Liens will be subject
and subordinate in priority only to those valid and perfected
liens, if any, that existed as of the Petition Date that are
superior in rank to valid and perfected liens that secure the
pre-petition obligations to RTS; and (b) status as a super-priority
administrative claim pursuant to 11 U.S.C. Section 364(c)(1), with
priority over any and all administrative expenses of the kind
specified in 11 U.S.C. Sections 503(b) or 507(b) with the exception
of (i) U.S. Trustee fees, and (ii) professional fees allowed and
payable under 11 U.S.C. Sections 330, 331, and 503.

A hearing on the matter is set for September 12, 2023 at 1:30 p.m.

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

                       About PJ Trans, Inc.

PJ Trans, Inc. is a trucking company and has filed the case to
reorganize its debts and obligations in order to prevent the
liquidation and closure of its business.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ill. Case No. 23-09390) on July 20,
2023. In the petition signed by Marcin Pogorzelski, president, the
Debtor disclosed up to $50,000 in both assets and liabilities.

Judge Janet S. Baer oversees the case.

Saulius Modestas, Esq., at Modestas Law Offices, P.C., represents
the Debtor as legal counsel.


POLYMER INSTRUMENTATION: Banned From Using Cash Collateral
----------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Pennsylvania
entered an order prohibiting Polymer Instrumentation & Consulting
Services, Ltd. from using cash collateral as requested by Fulton
Bank, N.A.

As previously reported by the Troubled Company Reporter, on March
7, 2014, the Debtor executed and delivered to Fulton a Promissory
Note in the original principal sum of $950,000. The Note required
the Debtor to make monthly payments of all accrued unpaid interest
as of each payment date, beginning April 7, 2014, and all
subsequent payments to be due on the same day of each month
thereafter.

The Debtor defaulted under the Note by failing to make payments
when due.

Based upon the Debtor's default, Fulton filed Complaints for
Confession of Judgment against the Debtor, its principal and
commercial guarantor Ti Chung Hsu, and commercial guarantor Emily
Chiang.

The Court entered an Order on June 28, 2023, approving the sale of
Personal Property free and clear of all liens, claims,
encumbrances, and other interests. Upon receipt of payment from the
sale of the Personal Property, counsel for Fulton wrote to the
Debtor's counsel requesting status of the Debtor's Excluded
Personal Property, specifically cash and accounts receivables. The
statements indicate that, as of July 18, 2023, the value of the
accounts receivable was $582,068 and cash was $138,068.

Fulton notified the Debtor of its objection to any further use of
cash collateral. As the sale was a sale of Personal Property via
Asset Purchase Agreement, the purchaser of the Personal Property
has no basis or rights to utilize the Debtor's cash collateral in
its operations. The purchaser of the Personal Property is related
to Hsu, and the purchaser and Hsu intend to run a new company
utilizing the Personal Property.

Fulton has no adequate security with respect to the cash
collateral. The Debtor is no longer operating. It sold its Personal
Property to a third party pursuant to an Asset Purchase Agreement.
There is no basis under Federal law for the new owner to utilize
the Debtor's cash collateral to operate a different business.

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

                  About Polymer Instrumentation
                    & Consulting Services Ltd.

Polymer Instrumentation & Consulting Services, Ltd., a State
College, Pa.-based firm that conducts business under the name
Polymics, filed a Chapter 11 petition (Bankr. M.D. Pa. Case No.
21-01056) on May 10, 2021, listing as much as $10 million in both
assets and liabilities. Tim T. Hsu, president of Polymer, signed
the petition.

Judge Mark J. Conway oversees the case.

The Debtor tapped Robert E. Chernicoff, Esq., at Cunningham
Chernicoff & Warshawsky, P.C. as bankruptcy counsel; Beard Law
Company and Morgan, Lewis & Bockius, LLP as special counsel; Chen &
Fan Accountancy Corp. as accountant; Strategic Resource as
management and financial advisor; and Three Twenty-One Capital
Partners, LLC as investment banker.


PREMIER MEDICAL: Court OKs Cash Collateral Access Thru Sept 24
--------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas, Fort
Worth Division, authorized Premier Medical, Inc. and Firstox
Laboratories, LLC to use cash collateral on an interim basis in
accordance with the budget, through September 24, 2023.

As previously reported by the Troubled Company Reporter, Regency
Finance LLC contends it holds three secured loans to Premier and
two non-debtor entities, Diversified Property Ventures, LLC and
Diversified Properties 2, LLC pursuant to which Regency asserts it
holds a security interest in substantially all of Premier's
personal property.

Regency contends that, as of July 26, 2023, the indebtedness due
under the Notes was approximately $20.3 million. Regency further
contends that the Regency Loans are secured by mortgages and
assignment of rents on two parcels of real property owned by the
Non-Debtor Borrowers, as well as a perfected security interest in
all personal property of Premier. According to the documents
provided by Regency, both the mortgages on the real property and
the UCC-1 financing statements governing the collateral were filed
on November 15, 2021. The mortgages state that they secure all
obligations due under the Loan and Security Agreement up to $40
million, including all of the Regency Loans.

Post-petition, in early August 2023, Regency foreclosed on the real
property located at 315 Tanner Way, Greenville, South Carolina
owned by one of the Non-Debtor Borrowers and that was collateral
for the Regency Loans. The foreclosure reduced the indebtedness due
under the Regency Loans in the amount of approximately $14.5
million. Therefore, as of the filing of the Motion, the maximum
indebtedness due under the Regency Loans is approximately $5.8
million.

The remaining parcel of real property that is collateral for the
Regency Loans is owned by non-debtor Diversified Properties 2, LLC,
and is located at 6000 Pelham Road, Greenville South Carolina.
Premier believes that this property is worth at least between $6
million and $7 million.

Certain other creditors may also assert a security interest and
lien in Premier's accounts and accounts receivable that are
subordinate and junior to the lien of Regency.

According to Premier's records, the Junior Lienholders may include,
without limitation, the following parties that may assert an
interest in Premier's cash collateral:

     a. Cloudfund LLC;
     b. Legacy Capital 26, LLC;
     c. Radla Capital LLC; and
     d. Vox Funding SPV1, LLC.

As adequate protection, Regency is granted replacement security
interests in and liens upon all assets of Premier and its estate
except for causes of action arising under Chapter 5 of the
Bankruptcy Code subject to any liens then existing to the same
extent, validity and priority of such liens as of the Petition
Date. The Replacement Liens are subject to the Carve Out amount.

In addition to such Replacement Liens, Regency will be entitled to
an allowed superpriority administrative expense claim under 11
U.S.C. sections 503 and 507 to the extent that the adequate
protection provided herein proves inadequate to cover any
Diminution in Value of the collateral. Subject to and subordinate
to the Carve Out, the Adequate Protection Superpriority Claim will
have priority over all administrative expense claims and unsecured
claims against Premier now existing or hereafter arising.

There will be a carve-out for U.S. Trustee fees and other fees or
costs of court that are not subject to any of the Adequate
Protection Super Priority Claims granted, or any other protections
granted to Regency under the Order. Specifically, the Carve-Out
will mean an amount equal to the sum of the following: (a) all fees
required to be paid to the Clerk of the Court and to the U.S.
Trustee under 28 U.S.C. section 1930(a) plus interest pursuant to
31 U.S.C. section 3717; and (b) any other costs of court.

The final hearing on the matter is set for September 20, 2023 at
1:30 p.m.

A copy of the order is available at  https://urlcurt.com/u?l=t73RhL
from PacerMonitor.com.

                   About Premier Medical, Inc.

Premier Medical, Inc. sought protection under Chapter 11 of the
U.S. Bankruptcy Court (Bankr. N.D. Tex. Case No. 23-42096) on July
20, 2023. In the petition signed by John Michael Cataldi,
president, the Debtor disclosed up to $50 million in both assets
and liabilities.

Judge Mark X. Mullin oversees the case.

Joshua N. Eppich, Esq., at Bonds Ellis Eppich Schafer Jones LLP,
represents the Debtor as legal counsel.


QUARTERNORTH ENERGY: S&P Upgrades ICR to 'B-', Outlook Stable
-------------------------------------------------------------
S&P Global Ratings raised the issuer credit rating on Houston-based
offshore oil and gas exploration and production company
Quarternorth Energy Holding Inc. to 'B-' from 'CCC+'.

S&P said, "At the same time, we raised the issue-level rating on
the company's second-lien term loan to 'B+' from 'B'. The
second-lien recovery rating remains '1', reflecting our expectation
for very high (90%-100%; rounded estimate: 95%) recovery in the
event of a payment default.

"The stable outlook reflects our expectation that the company will
generate positive free cash flow over the next 12-24 months while
maintaining a solid cash balance and building on its successful
operating track record. We forecast funds from operations (FFO) to
debt will exceed 100% and debt to EBITDA will remain below 1x in
2023 and 2024."

Successful results from its deepwater drilling program support a
stable operating track record two years since inception.
Quarternorth completed its 2022-2023 deepwater drilling program in
the second quarter of 2023 and achieved its target production
levels while strengthening its liquidity and leverage position,
demonstrating improved management execution and operational
effectiveness. S&P said, "We expect production in the second half
of 2023 to reach 35,000-40,000 barrels of oil equivalent per day
(boe/d), an increase from approximately 27,000 boe/d in the first
half of the year. We anticipate the company will maintain
consistent production levels in 2024 as it offsets natural declines
with its deepwater drilling program." The company has completed its
strategic review and decided to remain a stand-alone entity for
now.

S&P said, "We expect Quarternorth will maintain adequate liquidity
and generate positive free operating cash flow over the next 12
months. Despite still lacking a traditional revolving credit
facility as a backup source of liquidity, Quarternorth has
maintained a solid cash balance over the past two years, reporting
approximately $300 million as of June 30, 2023. We expect
Quarternorth's financial metrics to remain strong over the next two
years, with average FFO to debt above 100% and debt to EBITDA below
1x as the company generates positive free operating cash flow in
2023 and 2024. After paying down its first-lien facility in the
second quarter of 2023, the company made a sizable special dividend
of $200 million in the second quarter of 2023. Based on these
actions and the lack of near-term maturities, we believe
Quarternorth will likely use a portion of its free cash flow for
more modest shareholder distributions in 2024. The company's
second-lien facility of $185 million due 2026 remains outstanding.

"We have revised our assessment of Quarternorth's management and
governance to fair from weak. Based on its demonstrated successful
track record since its formation in 2021 and our expectation that
the company will be able to maintain average 2023 production levels
through 2024 through its drilling program, we have revised our
assessment of its management and governance to fair from weak.
However, the company currently lacks a chief financial officer."

Nevertheless, financial sponsor ownership constrains Quarternorth's
financial risk profile. Quarternorth is majority owned by financial
sponsors. In our view, the high proportion of financial sponsor
ownership increases the risk that the company will increase its
leverage to fund potential increases in its capital spending,
acquisitions, or equity distributions. After paying out $79 million
in special dividends last year, the company has distributed $200
million to shareholders so far in 2023, which we expect to result
in negative discretionary cash flow for the year.

S&P said, "Our stable rating outlook on Quarternorth reflects our
expectation that the company will generate positive free cash flow
over the next 12-24 months while maintaining a solid cash balance
and building upon its operating track record. We forecast FFO to
debt will exceed 100% and debt to EBITDA will remain below 1x in
2023 and 2024. Given its low leverage and no near-term debt
maturities, we expect the company will use a portion of its free
cash flow for modest shareholder distributions over the next year.

"We could lower our rating on Quarternorth if its liquidity
deteriorated, its capital structure became unstainable, or we
believed the company had become dependent on favorable business
conditions to meet its financial commitments. This would most
likely occur if commodity prices declined without an offsetting
reduction in capital spending, or if the company made a
larger-than-anticipated dividend payment depleting its cash
balance.

"We could raise our rating on Quarternorth if it increased its
proved reserves and production to levels more comparable with
higher-rated peers while maintaining FFO to debt comfortably above
45%, along with positive free cash flow generation. We would also
require the company to enter into a traditional revolving credit
facility before raising the rating. Alternatively, we could raise
our rating if we no longer viewed the company as being controlled
by a financial sponsor."



R L BURNS: Unsecureds to Split $18K in Consensual Plan
------------------------------------------------------
R L Burns, Inc., filed with the U.S. Bankruptcy Court for the
Middle District of Florida a Plan of Reorganization dated August
31, 2023.

The Debtor is a Florida profit company organized by Articles of
Incorporation filed with the Florida Secretary of State on March
31, 1994.

The Debtor is a full-service General Contractor headquartered in
Downtown Orlando that has provided quality construction solutions
in the greater Central Florida area for more than 29 years. The
Debtor's project history includes a wide variety of construction
projects, including community centers, parks, medical facilities,
education facilities, office buildings, and transportation
facilities.

Class 5 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 $18,000.00. Payments
will be made in equal quarterly payments of $1,500.00. Payments
shall commence on the fifteenth day of the month, on the first
month that begins more than ninety 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 5 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, the 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 work. Holders of Class 5
claims shall be paid directly by the Debtor.

Class 6 consists of any and all equity interests and warrants
currently issued or authorized in the Debtor. This Class is
Unimpaired. Holders of a Class 6 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 31,
2023 is available at https://urlcurt.com/u?l=ZT6KdW from
PacerMonitor.com at no charge.

Counsel for Debtor:

     Jeffrey S. Ainsworth, Esq.
     Jacob D. Flentke, Esq.
     Flentke Legal Consulting, PLLC, Of Counsel
     BransonLaw, PLLC
     1501 E. Concord St.
     Orlando, FL 32803
     Telephone: (407) 894-6834
     Facsimile: (407) 894-8559
     Email: jeff@bransonlaw.com
            jacob@bransonlaw.com

                        About R L Burns

R L Burns, Inc. is a full-service general contractor headquartered
in Downtown Orlando that has provided quality construction
solutions in the greater Central Florida area for more than 29
years. Its project history includes a wide variety of construction
projects, including community centers, parks, medical facilities,
education facilities, office buildings, and transportation
facilities.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. M.D. Fla. Case No. 23-02186) on June 2,
2023. In the petition signed by CEO Robert L. Burns Sr., the Debtor
disclosed $751,416 in assets and $3,997,262 in liabilities.

Judge Grace E. Robson oversees the case.

Jeffrey S. Ainsworth, Esq., at Bransonlaw, PLLC, is the Debtor's
legal counsel.


RASBERRY CREEK: Brian Rothschild Named Subchapter V Trustee
-----------------------------------------------------------
The U.S. Trustee for Region 19 appointed Brian Rothschild, Esq., as
Subchapter V trustee for Raspberry Creek Fabrics, LLC.

Mr. Rothschild, an attorney at Parsons Behle & Latimer, will be
paid an hourly fee of $430 for his services as Subchapter V trustee
and will be reimbursed for work-related expenses incurred.

Mr. Rothschild declared that he is a disinterested person according
to Section 101(14) of the Bankruptcy Code.

The Subchapter V trustee can be reached at:

     Brian M. Rothschild, Esq.
     Parsons Behle & Latimer
     201 South Main Street, Suite 1800
     Salt Lake City, UT 84111
     Phone: (801) 532-1234
     Email: brothschild@parsonsbehle.com

                      About Raspberry Creek Fabrics

Raspberry Creek Fabrics, LLC, a company in Sandy, Utah, filed its
voluntary Chapter 11 petition (Bankr. D. Utah Case No.
23-23514) on Aug. 17, 2023, with $146,490 in assets and $1,283,026
in liabilities. Diana Rammell, manager, signed the
petition.

Judge Kevin R. Anderson oversees the case.

Cohne Kinghorn, P.C. serves as the Debtor's legal counsel.


RAY'S AUTO: Ongoing Operations to Fund Plan
-------------------------------------------
Ray's Auto Restoration, LLC a/k/a Ray's Auto Body, filed with the
U.S. Bankruptcy Court for the Eastern District of Pennsylvania a
Plan of Reorganization dated September 5, 2023.

Prior to filing, Debtor operated two locations as auto body and
auto restoration businesses, one in New Jersey and one in
Pennsylvania.

The Debtor is a limited liability company formed in Pennsylvania.
Raymond Mamone is the sole owner and sole member and managing
member of the company.

Debtor has a long and ongoing dispute with a Pennsylvania landlord
for real estate at Pembroke Road, Freemansburg. This matter has not
yet gone to trial. Debtor has a long-running dispute with Steven
Altholtz concerning renovations to a 1966 GTO convertible which
resulted in a very large judgment being taken against Debtor mostly
because Debtor could not afford to continue to defend itself a
very-well funded plaintiff.

Class 1 claimants are holders of allowed General Unsecured Claims
without priority. These claims are estimated to total approximately
$430,000.

Debtor shall pay the sum of $700 per month for a 60-month period of
time for a total of $42,000. This exceeds the liquidation value of
Debtor's property, as required by the Code.

This Plan of Reorganization is proposed by the Debtor from ongoing
operations of the Debtor.

Except as provided in this Plan or the Order confirming the plan,
all of the property of the estate, pursuant to Sections 1141 (b)
and C of the Bankruptcy Code, vests in the Debtor as of the
effective date, free and clear of any claim or interest of any
creditor provided for in this plan.

A full-text copy of the Plan of Reorganization dated September 5,
2023 is available at https://urlcurt.com/u?l=cIK0kL from
PacerMonitor.com at no charge.

Attorney for Debtor:

     Kevin K. Kercher, Esq.
     Law Office of Kevin K. Kercher, Esq., PC
     881 3rd St.
     Whitehall, PA 18052
     Telephone: (610) 264-4120
     Email: kevin@kercherlaw.com

                    About Ray's Auto Restoration

Ray's Auto Restoration, LLC, is a limited liability company formed
in Pennsylvania.

The Debtor filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. E.D. Pa. Case No. 23-11716) on June 12,
2023, with as much as $1 million in both assets and liabilities.
Ray Mamone, president, signed the petition.

Judge Patricia M. Mayer oversees the case.

The Law Office of Kevin K. Kercher, Esq., PC, serves as the
Debtor's counsel.


REPLICEL LIFE: Applies for Management Cease Trade Order
-------------------------------------------------------
RepliCel Life Sciences Inc. announced that it was not able to file
its interim financial statements, management's discussion and
analysis and the required certifications for the three and
six-month periods ended June 30, 2023 on or before the prescribed
filing deadline of Aug. 29, 2023 as required by National Instrument
51-102, Continuous Disclosure Obligations ("NI 51-102") and NI
52-109, Certification of Disclosure in Issuer’s Annual and
Interim Filings, respectively.

The completion of the Interim Filings for the three and six-month
periods ended June 30, 2023 has been and will continue to be
delayed primarily due to the recent demise of the Company's Chief
Financial Officer, Simon Ma, after a debilitating terminal illness
and because Mr. Ma's successor, who was only just appointed (on
Aug. 16, 2023), will need time to settle in to his new role and
prepare the Interim Filings.

The Company has filed an application to the British Columbia
Securities Commission to approve a temporary management cease trade
order under National Policy 12-203 – Management Cease Trade
Orders ("NP 12-203"), which, if granted, will prohibit trading in
securities of the Company by certain insiders of the Company,
whether direct or indirect.  The Company is seeking the MCTO as it
is unable to file it Interim Filings within the deadline as
required under NI 51-102.

The Company expects to file the Interim Filings on or before Oct.
27, 2023.  Since becoming CFO, Mr. Kwok has taken meaningful steps
towards remedying the default –- he has already obtained access
to all of the Company's financial documents and accounting software
and he has begun the accounting process to complete the Interim
financials.  Mr. Kwok has indicated that he believes the Company
can remedy the default by Oct. 27, 2023.  The MCTO will be in
effect until the Interim Filings are filed.  The Company confirms
that it will comply with the alternative information guidelines
included in NP 12-203 so long as the Interim Filings are
outstanding.

                           About Replicel

RepliCel Life Sciences Inc. is a regenerative medicine company
focused on developing autologous cell therapies that treat
functional cellular deficits.  The diseases currently being
addressed are chronic tendinosis, skin aging, and androgenetic
alopecia (pattern baldness).

Vancouver, Canada-based Mao & Ying LLP, the Company's auditor since
2022, issued a "going concern" qualification in its report dated
May 1, 2023, citing that the Company has accumulated losses of
$42,974,870 since its inception and incurred a loss of $743,288
during the year ended Dec. 31, 2022.  These events or conditions,
along with other matters, indicate that a material uncertainty
exists that may cast substantial doubt about its ability to
continue as a going concern.


S&S SENIOR: Hearing on Plan & Disclosures Rescheduled to Sept. 28
-----------------------------------------------------------------
Judge Barbara Ellis-Monro has entered an order that the hearing on
S&S Senior Housing of Louisburg LLC's Disclosure Statement for Plan
of Reorganization is rescheduled to September 28, 2023, at 10:00
AM, Courtroom 1402, United States Courthouse, Richard B. Russell
Federal Building, 75 Ted Turner Drive (F/K/A Spring Street), SW,
Atlanta, Georgia.

              About S&S Senior Housing of Louisburg

S&S Senior Housing of Louisburg, LLC, a company in Dallas, Ga.,
filed its voluntary petition for Chapter 11 protection (Bankr. N.D.
Ga. Case No. 23-40498) on April 5, 2023, with as much as $1 million
to $10 million in both assets and liabilities. Kenneth Mark Simons,
manager, signed the petition.

Judge Barbara Ellis-Monro oversees the case.

Cameron M. McCord, Esq., at Jones & Walden, LLC serves as the
Debtor's legal counsel.


SAFE ELECTRIC: Unsecureds to Get Share of Income for 3 Years
------------------------------------------------------------
Safe Electric, LLC, filed with the U.S. Bankruptcy Court for the
Middle District of Florida a Subchapter V Plan of Reorganization
dated August 31, 2023.

The Debtor is a Florida limited liability company organized in 2012
by Mr. Jesus A. Castro, who currently serves as the sole managing
member of the Debtor.

Safe Electric conducts business as an electric contractor
performing work for both new and existing residential and
commercial construction projects. Debtor conducts its operation
from a leased warehouse/office space located at 1170 Greenskeep
Drive, Suite D, Kissimmee, Florida 34741.

Shortly before the commencement of this case, certain creditors of
the Debtor filed lawsuits against the Debtor in Orange and Osceola
County seeking to collect on alleged outstanding obligations. In
order to preserve its business for the benefit of its creditors and
estate, and in order to dispute claims in a single forum, Debtor
commenced the instant Chapter 11 case and elected to proceed with
its reorganization effort under Subchapter V.

Class 6 consists of all Allowed General Unsecured Claims against
the Debtor. In full satisfaction of the Allowed Class 6 General
Unsecured Claims, Holders of Class 6 Claims shall receive a pro
rata share of Distributions paid pursuant to the following payment
schedule:

     * Payment #1: $5,000 of the Effective Date of the Plan;

     * Payment #2: $5,000 on the last day of the 6th month
following the Effective Date;

     * Payment #3: $10,000 on the last day of the 12th month
following the Effective Date;  

     * Payment #4: $10,000 on the last day of the 24th month
following the Effective Date;

     * Payment #5: $10,000 on the last day of the 36th month
following the Effective Date.

However, Debtor shall devote its Disposable Income over a 3-year
period commencing on the Effective Date to be paid pro rata on an
annual basis pursuant to the payment dates established for Payments
3, 4, and 5 to the extent that its Disposable Income exceeds the
value of Payment #3, Payment #4, and Payment #5. For purposes of
clarity, the Debtor is devoting its Disposable Income over a 3-year
period commencing on the Effective Date for distribution to Holders
of Allowed Class 6 Claims but establishing a mandatory minimum
payment of $10,000.00 per year to the extent that its Disposable
Income does not exceed $10,000.00 in any given year of the Plan
term.

In addition to the annual Distributions outlined, Class 6
Claimholders shall also receive a pro rata share of the net
proceeds recovered from all Causes of Action after payment of
professional fees and costs associated with such collection
efforts, and after Administrative Claims and Priority Claims are
paid in full. The maximum Distribution to Class 6 Claimholders
shall be equal to the total amount of all Allowed Class 6 General
Unsecured Claims. Class 6 is Impaired.

Class 7 consists of all equity interests in Safe Electric, LLC.
Class 7 Interest Holders shall retain their respective Interests in
Safe Electric, LLC in the same proportions such Interest were held
as of the Petition Date (i.e., 100.00% Interest to Jesus A.
Castro.). Class 7 is Unimpaired.

The Plan contemplates the Debtor will continue to manage and
operate its business in the ordinary course, but with restructured
debt obligations. It is anticipated the Debtor's postconfirmation
business will mainly involve continued operation of its electrical
contracting business, the income from which will be committed to
make the Plan Payments.

A full-text copy of the Subchapter V Plan dated August 31, 2023 is
available at https://urlcurt.com/u?l=lBz36a from PacerMonitor.com
at no charge.

Counsel for Debtor:

     Daniel A. Velasquez, Esq.
     Latham Luna Eden & Beaudine, LLP
     201 S. Orange Ave., Suite 1400
     Orlando, FL 32801
     Tel: (407) 481-5800
     Fax: (407) 481-5801
     Email: jluna@lathamluna.com

                        About Safe Electric

Safe Electric, LLC, is an electrical contractor serving commercial
and residential clients.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. M.D. Fla. Case No. 23-02185) on June 2,
2023.  In the petition signed by Jesus A. Castro, sole managing
member, the Debtor disclosed up to $10 million in both assets and
liabilities.

Daniel A. Velasquez, Esq., at Latham Luna Eden & Beaudine LLP, is
the Debtor's legal counsel.


SANDVINE CORP: Moody's Affirms B3 CFR & Alters Outlook to Negative
------------------------------------------------------------------
Moody's Investors Service affirmed Sandvine Corporation's B3
corporate family rating, B3-PD probability of default rating, B2
ratings on its senior secured revolving credit facilities and
senior secured term loan, and changed the outlook to negative from
stable.

"The outlook change reflects the company's elevated financial
leverage, which raises the risk to refinance its November 2025 term
loan," said Peter Adu, Moody's Vice President and Senior Credit
Officer. "The company will be challenged to improve EBITDA and
de-lever in 2024 due to macroeconomic headwinds", Adu added.

Affirmations:

Issuer: Sandvine Corporation

Corporate Family Rating, Affirmed B3

Probability of Default Rating, Affirmed B3-PD

Backed Senior Secured 1st Lien Bank Credit Facility, Affirmed B2

Outlook Actions:

Issuer: Sandvine Corporation

Outlook, Changed To Negative From Stable

RATINGS RATIONALE

Sandvine's B3 CFR is constrained by: (1) high Debt/EBITDA because
of declining EBITDA as customers defer purchases in response to
global macroeconomic headwinds, high inflation and foreign exchange
effects, together with Moody's expectation that the company will be
challenged to reduce the metric towards 6x prior to its November
2025 refinancing (was 7.7x for LTM Q2/2023); (2) small scale and
more targeted portfolio of network and application intelligence
products relative to larger peers with more diversified offerings;
(3) more than 50% of revenue derived from product sales, which are
cyclical and create volatility in results; and (4) ownership by
private equity, which could lead to leveraging transactions,
including dividends and sale of the company. The rating benefits
from: (1) good long term growth prospects, especially in the mobile
network operators segment where growing bandwidth consumption and
5G investments create opportunities; (2) good geographic diversity,
which mitigates pressure on its results as weakness in certain
regions will be offset by strength in others; (3) a diversified and
extensive client base; and (4) good liquidity, which is boosted by
positive free cash flow generation.

Sandvine's CIS-4 reflects its exposure to governance risk because
global macroeconomic headwinds, high inflation and foreign exchange
effects are causing its customers to delay or defer orders, which
pressures EBITDA, elevates financial leverage and raises
refinancing risk.

Sandvine has two classes of debt: (1) B2-rated secured first lien
credit facilities - revolving credit facility ($7 million expires
in November 2023 and $23 million in August 2025) and $430 million
(face value) term loan due 2025 ($394 million outstanding); and (2)
unrated $110 million second lien term loan due 2026. The credit
facilities are guaranteed by all material subsidiaries in the US,
Canada, Sweden and the UK, and are secured by a first priority
security interest in the assets of the guarantors. Moody's rates
the revolver and first lien term loan B2, one notch above the CFR,
to reflect their senior ranking and loss absorption provided by the
second lien term loan.

Sandvine has good liquidity through the next twelve months to
August 31, 2024. Sources approximate $80 million while the company
has already made mandatory debt repayments required in this time
frame. Liquidity is supported by cash of $36 million at June 30,
2023, Moody's expected free cash flow of about $20 million for the
next twelve months and $23 million of availability under its
revolving credit facility ($7 million expires in November 2023 and
$23 million in August 2025). The $7 million portion is current and
Moody's does not consider it in the liquidity assessment. The
revolver is subject to a first lien net leverage covenant if
utilization exceeds 35% and Moody's does not expect the covenant to
be applicable in the next twelve months. The company has limited
flexibility to generate liquidity from asset sales.

The negative outlook is due to high Debt/EBITDA and the refinancing
risk associated with its November 2025 term loan.

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

Sandvine's ratings could be upgraded if it profitably enhances its
scale and sustains Debt/EBITDA below 6x and Free Cash Flow/Debt
above 5%.

Sandvine's ratings could be downgraded if its liquidity becomes
weak, or if it sustains Debt/EBITDA above 7x and
(EBITDA-Capex)/Interest below 1.25x.

The principal methodology used in these ratings was Software
published in June 2022.

Sandvine Corporation, headquartered in Waterloo, Ontario, Canada
and owned by funds affiliated with Francisco Partners, provides
network and application intelligence solutions to mobile, fixed,
cable, satellite and Wi-Fi service providers, and governments
globally.


SATURNO DESIGN: Says T Bank Objections Fall Flat
------------------------------------------------
Debtor Saturno Design, LLC, responded to objections by T Bank to
confirmation of the Debtor's First Amended Chapter 11 Plan of
Reorganization.

Despite receiving the vast majority of distributions under the
Plan, T Bank is the only party objecting to the Plan.  However, the
Debtor submits that the T Bank Objection should be overruled in its
entirety and that the Plan should be confirmed.

At this time, given T Bank's lack of support for the Plan, the Plan
cannot be confirmed on a consensual basis. However, under
subchapter V of chapter 11 of the United States Bankruptcy Code
("Subchapter V"), if the Plan does not have the support of all
impaired classes which are entitled to vote on the Plan, then this
Court "shall" nevertheless confirm the Plan if it finds that the
Plan satisfies the applicable requirements of section 1129(a) of
the Bankruptcy Code (excluding sections 1129(a)(8), (10), and (15))
and that the Plan " the plan does not discriminate unfairly, and is
fair and equitable, with respect to each class of claims or
interests that is impaired under, and has not accepted, the plan."
11 U.S.C. s 1191(b).

As an initial observation, no party disputes that T Bank is
undersecured. Additionally, no party disputes that T Bank's
collateral, as of the petition date, included essentially all
relevant, lienable assets of Debtor and that the value of the
Business is a good proxy for the value of such collateral.
Accordingly, the issues relating to T Bank's Secured Claim which
need to be resolved at the confirmation hearing are essentially
issues of valuation, not claims allowance. To that point, the plain
language of section 506(a) is clear that a bankruptcy court can
determine the value of a "creditor's interest in the estate's
interest in such property . . . in connection with any hearing on
such disposition or use or on a plan affecting such creditor's
interest." This is precisely what Debtor is doing here—seeking to
determine the value of the collateral supporting T Bank's Secured
Claim in connection with confirmation of a reorganization plan
which affects T Bank's rights. "Thus it is clear from the Code
itself that a valuation hearing is anticipated as part and parcel
of a confirmation hearing."

Even if construed as a claims objection, rather than a matter of
valuation, T Bank's arguments fall flat. Critically, T Bank's
reliance on In re Dynamic Brokers, Inc., 293 B.R. 489 (9th Cir.
B.A.P. 2003) is misplaced. The claim at issue in Dynamic Brokers
was "deemed allowed" by operation of section 502 of the Bankruptcy
Code, because the debtor had not scheduled it as disputed,
contingent, or unliquidated. The Dynamic Brokers debtor, as
provided by section 502 of the Bankruptcy Code, therefore treated
the claim as "deemed allowed" and provided for payment in full of
the claim in its first plan and in its first amended plan, and then
later "changed course" in its second amended plan (reducing the
secured component of the claim) without amending its schedules. As
the Dynamic Brokers panel observed, the debtor could have simply
amended its schedules to list the relevant claim as disputed,
unliquidated, or contingent, to strip such claim of its "deemed
allowed" status. Here, by contrast, T Bank's claims have been
clearly listed, since the petition date and without any change
whatsoever, as "unliquidated" in Debtor's schedules given the need
to bifurcate the claim into secured and unsecured components
pursuant to section 506 of the Bankruptcy Code. There is no
argument that Debtor's scheduling of T Bank's claims has resulted
in any "deemed allowed" claims.

In this case, the "essence of Rule 3007" has been more than
satisfied. Bankruptcy Rule 3007 requires "at least 30 days" of
notice; here, Debtor made its position on T Bank's claims clear
from the petition date, which occurred approximately 52 days ago
and nearly two months prior to the August 30 confirmation hearing.
T Bank has been actively involved in this chapter 11 case from the
petition date. Counsel for Debtor and T Bank have spoken on
multiple occasions regarding the Plan, the valuation issues
thereunder, and all other aspects of this chapter 11 case,
including by teleconferences, zoom meetings, and emails. The (first
amended) Plan, filed approximately 37 days prior to the
confirmation hearing, did not alter the treatment of T Bank and its
claims as set forth in the chapter 11 plan of reorganization that
was filed on the petition date. T Bank does not (and could not)
allege that Debtor "sandbag[ged]" T Bank by "sneaking an objection
into a reorganization plan" in this case. T Bank has known from day
one that the value of Debtor's assets, which in turn determines the
relative amounts of T Bank's Secured Claim and T Bank's Deficiency
Claim, was the principal issue in this reorganization proceeding. T
Bank does not (and could not) credibly contend that it failed to
receive due process under these facts. And moreover, T Bank is the
only party objecting to the Plan, which renders the confirmation
hearing a two-party dispute.

The other cases cited by T Bank are also factually and legally
distinguishable. In In re Yellowstone Mountain Club, Inc., 410 B.R.
658, 660 (Bankr. D. Mont. 2009), the court ruled that a claimholder
could not bring a motion to value its claim prior to the
claimholder filing a proof of claim. The case also involved a local
(Montana) bankruptcy rule particular to Montana chapter 11 cases
and the determination of a monstrously complex secured claim of
several hundred million dollars. Here, by contrast, Debtor's
position with respect to T Bank's claims has been clear from the
petition date, and the ultimate allowance of T Bank's Secured Claim
will not throw the Plan into doubt. And In re Grogan, 158 B.R. 197
(Bankr. E.D. Cal. 1993), also cited by T Bank, was a chapter 13
case in which the court held that the IRS could file a proof of
claim after the confirmation date of a chapter 13 plan. Grogan does
not stand for the proposition that a debtor cannot assert a claims
objection, or otherwise conduct a valuation hearing, as part of its
chapter 11 plan, where the relevant claimholder had substantially
more notice and due process than required by Bankruptcy Rule 3007.

As a final observation, T Bank's argument ignores the Court's
orders in this case. Here, the Court set an August 30, 2023
confirmation hearing date well after it had already set a bar date
of September 11, 2023. The value of T Bank's Secured Claim was,
from the petition date, easily identifiable as the primary issue in
this chapter 11 case. The T Bank Objection therefore implies that
it has a better understanding of the substance and procedure of
bankruptcy law than the Court. Debtor respectfully submits that the
Court's orders to date have complied with applicable bankruptcy law
and have afforded T Bank the due process to which it is entitled.
Nevertheless, to the extent this Court is inclined to defer
ultimate allowance of T Bank's Secured Claim to a later date,
notwithstanding the clarity of the Plan since the petition date and
this Court's orders, Debtor is prepared to submit evidence at the
August 30, 2023 confirmation hearing that the Plan is feasible at a
higher, hypothetical amount for T Bank's Secured Claim.

The Plan has been proposed in good faith. Debtor filed the Plan on
the first day of this chapter 11 case, in part to give parties
(such as T Bank) ample opportunity to assess their rights in this
case. The aspects of the Plan to which T Bank objects have not
changed in any material manner since the petition date. T Bank has
received notice of every major pleading in this chapter 11 case and
has been actively involved in discussions with Debtor's counsel
regarding the treatment of T Bank's claims under the Plan.
Regardless of the ultimately allowed amount of T Bank's Secured
Claim, T Bank receives the lion's share of payments under the
Plan—consistent with its rights as Debtor's primary secured
creditor. The record is therefore clear that the Plan was proposed
in good faith.

To be clear, Debtor intends to refinance any unpaid amount of T
Bank's Secured Claim at the time such balloon payment comes due in
approximately seven years. Debtor's ability to do so is shown by
statements in the T Bank Objection. Under the current Plan terms,
approximately half of the principal of T Bank's Secured Claim will
be paid down prior to December 2030. At the same time, T Bank
asserts that Debtor's business assets are "worth at least
$970,000." Therefore, even if the value of the Business does not
grow, or even declines somewhat, over the next seven years, the
value of assets, under any reasonable set of assumptions, will be
significantly greater than the amount of secured debt which remains
unpaid. As stated in the Witnesses/Exhibits List, Mr. Rudy Bozas
and Mr. Francisco Arguelles will be available at the August 30,
2023 confirmation hearing to testify on Debtor's finances and other
matters which bear on the feasibility of the Plan (and other
confirmation requirements as needed).

T Bank argues that if this Court—whether at the August 30, 2023
confirmation hearing or otherwise—allows T Bank's Secured Claim
in a higher amount such that "more funds must be paid toward Bank's
secured claim, then Debtor may not be able to meet all of its Plan
obligations." Elsewhere, T Bank states that if the allowed amount
of T Bank's Secured Claim geos up, then "Debtor may not have
sufficient income to make payments to unsecured creditors . . . ."

This objection should be overruled. First, T Bank assumes that, if
T Bank's Secured Claim is allowed in an amount greater than
currently set forth in the Plan, then the monthly payment to T Bank
will change. T Bank has not requested such a change to the monthly
payment, nor is there any basis for making such changes,
particularly during the Plan Period (as defined in the Plan) when
Debtor is making payments to the holders of Allowed General
Unsecured Claims. Second, regardless of whether the Plan is amended
to increase the monthly payment to T Bank on account of T Bank's
Secured Claim, Debtor has agreed to commit its projected disposable
income—as required by section 1191(c)(2)—to make payments under
the Plan. While the relative amounts which go to T Bank on account
of T Bank's Secured Claim and to the holders of Allowed General
Unsecured Claims on account of those claims could shift, this risk
has been fully disclosed to all recipients of the Plan. No
party—including the Subchapter V Trustee—has filed an objection
to this proposal, which is simply consistent with Debtor's
obligations under Subchapter V. 6 In any case, the Plan and the
applicable provisions of Subchapter V provide Debtor substantial
flexibility to promulgate a reorganization plan which is fair and
equitable to T Bank and all other creditors.

Accordingly, Debtor's ability to make Plan payments during the Plan
Period will not be impacted by this Court's ultimate allowance of T
Bank's Secured Claim at $603,205 (per the Plan), T Bank's asserted
amount (presumably $970,000), or any figure in between.

11 U.S.C. s 1122. The Plan satisfies section 1122 of the Bankruptcy
Code because the classes set forth in Article IV of the Plan
contain only claims or interests that are substantially similar to
each other. No relevant objections were filed.

11 U.S.C. s 1123(a). The Plan satisfies section 1123(a) of the
Bankruptcy Code because, among other things, it appropriately
designates claims and interests, specifies the treatment of any
class of claims or interests that is impaired (and provides the
same treatment for each such class), and provides adequate means
for implementation by, among other things, vesting Debtor's assets
in Reorganized Debtor, which will continue business operation in
the ordinary course. No relevant objections were filed.

11 U.S.C. s 1129(a)(2). Section 1129(a)(2) of the Bankruptcy Code
requires Debtor, as proponent of the Plan, to comply with
applicable provisions of the Bankruptcy Code. Debtor has complied
with its duties under the Bankruptcy Code in all material respects,
including sections 1125 and 1126 (regarding disclosure and plan
solicitation), as such requirements may be modified pursuant to the
applicable provisions of Subchapter V. Debtor has timely filed its
schedules and made amendments as needed. Debtor has filed and
continues to file all required financial reports. No relevant
objections were filed.

Attorneys for the Debtor:

     Tara J. Schleicher, Esq.
     Dan Youngblut, Esq.
     FOSTER GARVEY P.C.
     121 SW Morrison St., 11th Floor
     Portland, OR 97204
     Telephone: (503) 228-3939
     Facsimile: (503) 226-0259
     E-mail: tara.schleicher@foster.com
             dan.youngblut@foster.com

              About Saturno Design, LLC

Saturno Design, LLC owns and operates a business that provides
website development and software solutions to the legal industry.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Ore. Case No. 23-31455) on July 3, 2023.
In the petition signed by Rodolfo Bozas, managing partner, the
Debtor disclosed up to $1 million in assets and up to $10 million
in liabilities.

Judge David W. Hercher oversees the case.

Tara J. Schleicher, Esq., at Foster Garvey P.C., represents the
Debtor as legal counsel.


SECURED COMMUNICATIONS: Taps Anchin Block as Accountant
-------------------------------------------------------
Secured Communications, Inc. seeks approval from the U.S.
Bankruptcy Court for the District of Delaware to hire Anchin Block
& Anchin LLP as its accountants.

The Debtor anticipates that Anchin will perform the following
accounting services:

     a. maintaining the general ledger;

     b. bookkeeping services;

     c. preparing financial statements;

     d. preparing tax returns;

     e. tax consulting; and

     f. general consulting.

The current rate of Anchin's partners for this engagement ranges
from $575 to $760 per hour and staff ranges from $150 to $620 per
hour.

Anchin Block is a "disinterested person" as defined in Section
101(14) of the Bankruptcy Code, according to the court filing.

The firm can be reached through:

     Adam M. Pizzo, CPA
     ANCHIN, BLOCK & ANCHIN LLP
     1375 Broadway
     New York, NY 10018
     Tel: (212) 840-3456
     Fax: (212) 840-7066
     Email: adam.pizzo@anchin.com

              About Secured Communications

Secured Communications, Inc. is a global technology company
specializing in safeguarding communications.

The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 23-11043) on August 1,
2023. In the petition signed by Damien Fortune, chief financial
officer and chief operating officer, the Debtor disclosed $819,354
in assets and $2,794,128 in liabilities.

Judge Thomas M. Horan oversees the case.

The Debtor tapped Chipman Brown Cicero & Cole, LLP and Baker &
Hostetler, LLP as legal counsels.


SHERMAN/GRAYSON: Gets OK to Sell Assets to AHS Sherman
------------------------------------------------------
Sherman/Grayson Hospital, LLC received approval from the U.S.
Bankruptcy Court for the District of Delaware to sell most of its
assets to AHS Sherman, LLC.

Under the deal, AHS Sherman, a Texas limited liability company,
will pay Sherman/Grayson $100,000 in cash and will assume
liabilities totaling more than $16 million, including
Sherman/Grayson's obligations under its lease agreement with MPT of
Sherman-Alecto, LLC.

The buyer also agreed to fund Sherman/Grayson's operations and
other administrative obligations of Wilson N. Jones Regional
Medical Center, a 207-bed acute care hospital in Sherman, Texas,
which is operated by the Debtor.

Entering into the sale agreement with AHS Sherman is in the "best
interests" of Sherman/Grayson, according to its attorney, Scott
Leonhardt, Esq., at The Rosner Law Group, LLC.

"If [Sherman/Grayson] is unable to complete the sale of its assets
to the buyer, [Sherman/Grayson] will be forced to suspend all
patient care services at WNJ and otherwise cease operations," Mr.
Leonhardt said.

                  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.


SILVER TRIDENT: Unsecureds Will Get 8.39% of Claims over 5 Years
----------------------------------------------------------------
Silver Trident Distributions, LLC, filed with the U.S. Bankruptcy
Court for the Southern District of Texas a Chapter 11 Plan of
Reorganization for Small Business dated September 5, 2023.

The Debtor was formed January 15, 2015 as a limited liability
corporation in the State of Texas and operates as a wholesale
reseller of custom blended soap. Debtor's primary income is derived
from merchants providing car washing services.

The Debtor was forced to seek protection under Title 11 after being
faced with increased material costs, market retraction, and
lawsuits from creditors.  The Debtor has a viable business platform
and intends to reorganize under chapter 11.  This, when taken
together with other operational changes and improvements will serve
as the backdrop for a viable plan of reorganization.

The Plan Proponent's financial projections show that the Debtor
will have projected disposable income of $1,500.  The final Plan
payment is expected to be paid on January 1, 2029.

This plan of reorganization proposes to pay the creditors of the
Debtor from cash flow from operations and future income.

Non-priority unsecured creditors holding allowed claims will
receive distributions which the proponent of this Plan has valued
at approximately 8.39 cents on the dollar. This Plan also provides
for the payment of administrative and priority claims.

Class 3 consists of Non-priority Unsecured Creditors. The allowed
general unsecured claims will be paid 8.39% of their claim in
quarterly installments over a period of 5 years. Payments will be
due and payable beginning on the 15th day of April 2023 (with
payments being made every July 15, October 15th, and January 15th
thereafter). The amount to be paid pro-rata is currently estimated
at $90,000.00. The allowed unsecured claims total $1,071,820.17.
This Class is impaired.

Equity interest holders are parties who hold an ownership interest
(i.e., equity interest) in the Debtor. Virendra A. Patel is the
only equity interest holder in the debtor and will retain his
ownership interest in the limited liability corporation. Viendra A.
Patel will receive no distributions under this plan on account of
pre-petition insider claims, if any.

The plan of reorganization will be funded by the Debtor through
cash flow from operations and future income. Viendra A. Patel will
remain in control of the reorganized debtor.

A full-text copy of the Plan of Reorganization dated September 5,
2023 is available at https://urlcurt.com/u?l=aKC1SA from
PacerMonitor.com at no charge.

Attorney for Debtor:

      Michael L. Hardwick, Esq.
      Michael Hardwick Law, PLLC
      2200 North Loop West, Suite 345
      Houston, TX 77018
      Phone: (713) 832-930-9090
      Fax: (713) 832-930-9091
      Email: michael@michaelhardwicklaw.com

                       About Silver Trident

Silver Trident Distributions, LLC, owns a one-stop shop for all
auto detailing chemicals including waxes, polishes, and sealants.
The company is based in Conroe, Texas.

Silver Trident Distributions filed a petition under Chapter 11,
Subchapter V of the Bankruptcy Code (Bankr. S.D. Texas Case No.
23-32141) on June 7, 2023, with $100,000 to $500,000 in assets and
$1 million to $10 million in liabilities.  Jarrod Martin, Esq., a
practicing attorney in Houston, has been appointed as Subchapter V
trustee.

Judge Jeffrey P. Norman oversees the case.

Michael L. Hardwick, Esq., at Michael Hardwick Law, PLLC, is the
Debtor's bankruptcy counsel.


SNOWSHOE MILLWORKS: Unsecureds Will Get 100% in Sale Plan
---------------------------------------------------------
Snowshoe Milworks LLC filed with the U.S. Bankruptcy Court for the
District of Massachusetts a Subchapter V Plan of Reorganization
dated September 5, 2023.

The Debtor is a Massachusetts limited liability company formed in
2018. Since its formation, the Debtor's sole member has been Sheila
Coffin Harshman, and its sole manager has been Sheila Coffin
Harshman.

Although formed in 2018, the Debtor was nothing more than a shell
until June 2021, when Sheila Coffin Harshman deeded to the Debtor
the Windsor Road Properties and the Pine Avenue Property.
Contemporaneously, the Debtor and Stage Point entered into a loan
agreement under which Stage Point advanced funds to pay off the
existing mortgages on the Windsor Road Properties and the Pine
Avenue Property. The loan from Stage Point to the Debtor was
secured by a mortgage on the Windsor Road Properties and the Pine
Avenue Property. After this transaction there were no mortgages on
the Windsor Road Properties or the Pine Avenue Property other than
that of Stage Point.

In order to stop Stage Point from foreclosing on the Windsor Road
Properties and the Pine Avenue Property in February 2023, the
Debtor executed a Forbearance Agreement dated February 21, 2023. In
such Forbearance Agreement, the Debtor represented and warranted
that no counterclaim, right of set-off, or defense of any kind
existed or was outstanding with respect to its obligations,
indebtedness, and liabilities to Stage Point. Stage Point continued
its scheduled foreclosure sales to April 2023, and after receiving
an additional payment, further continued its scheduled foreclosure
sales to June 2023.

The Debtor filed the Bankruptcy Case after a proposed buyer of one
of the Windsor Road Properties breached its purchase and sale
agreement and failed to close. The Debtor had intended to use the
proceeds of that sale to pay Stage Point in order to avert the
scheduled foreclosures. With the Debtor unable to pay and Stage
Point unwilling to postpone further the foreclosure sales, the
Debtor commenced the Bankruptcy Case.

Under the Plan, all creditors will be paid in full, with funds
raised from the sales of the Windsor Properties. The Plan
contemplates separate sales of the Windsor Properties. The proceeds
of the First Sale will be used to pay in full closing costs,
Administrative Expenses and Professional Fees that are Allowed
through the time of the closing, and real estate taxes and water
Liens for the Property sold, and the remainder of the proceeds of
the First Sale will be paid to Stage Point.

The Plan will become effective upon the closing of the Second Sale,
with all remaining Allowed Administrative Expenses, Allowed
Professional Fees, and Allowed Claims paid from the proceeds of the
Second Sale. Any remaining Cash of the Debtor will be distributed
to Sheila Coffin Harshman on account of her membership interest in
the Debtor.

This Plan is a partial liquidating plan. The liquidation
contemplated by this Plan will, even if the Nantucket Properties
generate only 75% of their estimated value (including broker fees
and closing costs), raise $4,788,750. Even if Stage Point's claim
is allowed in the $4,072,608.81 amount set forth on its proof of
claim, the total claims would be $4,097,136.41. Adding in another
$50,000 in Administrative Expenses and Professional Fees would
still leave (without even considering the Pine Avenue Property)
over $600,000 in surplus proceeds to go to the Debtor's membership
interests. Therefore, all creditors will be paid in full upon the
liquidation contemplated by this Plan.

Class 2 is comprised of all holders of Allowed General Unsecured
Claims against the Debtor. The Debtor believes that the Class 2
Claims consist solely of a claim of National Grid Company in the
amount of $6,827.60. In full and complete satisfaction, settlement,
release and discharge of the Class 2 Claims, the Class 2 Claims
shall be paid 100% of the amount of the holder's Allowed Claim on
the Effective Date, through the Second Sale. Class 2 is unimpaired.


Class 3 is comprised of Sheila Coffin Harshman, the holder of the
membership interests in the Debtor. The holder of the Class 3
Interests shall receive any funds of the Debtor remaining after the
Second Sale and the payment of all claims provided for under this
Plan. In addition, the holder of the Class 3 Interests shall retain
unaltered her legal, equitable and contractual rights regarding the
Debtor. Class 3 is unimpaired.

This Plan contemplates the payment of creditors from the funds
generated by the First Sale and the Second Sale. The Debtor, who
has already retained a real estate broker, shall first close the
First Sale, of either the One Windsor Property or the Two Windsor
Property.

The First Sale will not close until it has been approved by the
Bankruptcy Court. The proceeds of the First Sale will be used to
pay in full closing costs, Administrative Expenses and Professional
Fees that are Allowed through the time of the closing, and the
portion of the Class 1B Claim that relates to the Property that is
the subject of the First Sale. The remainder of the proceeds of the
First Sale will be paid to Stage Point as a partial payment of the
Class 1A Claim.

A full-text copy of the Subchapter V Plan dated September 5, 2023
is available at https://urlcurt.com/u?l=s46ris from
PacerMonitor.com at no charge.

Counsel for Debtor:

     Adam Ruttenberg, Esq.
     Beacon Law Group, LLC
     935 Great Plain Avenue No 116
     Needham, MA 02492
     Telephone: (617) 964-9833
     Email: ARuttenberg@BeaconLawGroup.com

                     About Snowshoe Millworks

Snowshoe Milworks, LLC, is a Massachusetts limited liability
company formed in 2018.

The Debtor filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. D. Mass. Case No. 23-10887) on June 5,
2023, with $1 million to $10 million in both assets and
liabilities. Sheila Coffin Harshman, sole manager and member,
signed the petition.

Judge Janet E. Bostwick oversees the case.

The Debtor tapped Adam Ruttenberg, Esq., at Beacon Law Group, LLC,
as bankruptcy counsel and Cheryl L. Dukeman, Esq., at Coast to
Coast Closings as special counsel.


SPIN HOLDCO: $2BB Bank Debt Trades at 15% Discount
--------------------------------------------------
Participations in a syndicated loan under which Spin Holdco Inc is
a borrower were trading in the secondary market around 85.5
cents-on-the-dollar during the week ended Friday, September 8,
2023, according to Bloomberg's Evaluated Pricing service data.

The $2 billion facility is a Term loan that is scheduled to mature
on March 4, 2028.  The amount is fully drawn and outstanding.

Spin Holdco Inc. provides laundry solutions. The Company offers
residential and commercial laundry solutions, as well as tire
inflation and vacuum vending services at convenience stores and gas
stations. Spin Holdco serves clients in North America and Europe.



ST. JOSEPH ENERGY: Moody's Rates New Secured Loans Due 2028 'Ba3'
-----------------------------------------------------------------
Moody's Investors Service assigned a Ba3 rating on St. Joseph
Energy Center, LLC's (SJEC) proposed senior secured credit
facilities due in 2028. The outlook is stable.

The senior secured credit facilities will consist of an
approximately $337 million senior secured first lien term loan B
due 2028; a $31 million senior secured revolving credit facility
due 2028 and a $7.9 million senior secured working capital facility
due 2028.

These credit facilities will refinance SJEC's existing
approximately $337 million outstanding senior secured first lien
term loan B due 2025 (CUS: 85235EAB3) and two separate senior
secured revolving credit facilities due 2025, all of which are
currently rated at Ba3.  The Ba3 rating on each of SJEC's existing
debt instruments will be withdrawn following financial close of the
new credit facilities.

Assignments:

Issuer: St. Joseph Energy Center, LLC

Senior Secured First Lien Term Loan B, Assigned Ba3

Senior Secured Revolving Credit Facility, Assigned Ba3

Senior Secured Working Capital Revolving Credit Facility, Assigned
Ba3

Outlook Actions:

Issuer: St. Joseph Energy Center, LLC

Outlook, Remains Stable

RATINGS RATIONALE

The rating assignment for SJEC's credit facilities principally
reflect the recent and expected financial performance of this
single asset merchant natural gas power plant which generally
remains aligned with the Ba rating category, including debt service
coverage ratios (DSCRs) between 2-2.5x, project cash flow to debt
of 10-15% and debt to EBITDA below 5.5x for the next few years.
SJEC produced strong credit metrics over the last year as it
benefited from high energy prices, with a DSCR of 2.3x, project
cash flow to debt of 30% and debt to EBITDA of 3.7x for the twelve
month period ended March 31, 2023. Such financial performance
helped facilitate incremental debt repayment through the existing
excess cash flow sweep mechanism.

SJEC is a 2018-vintage combined cycle natural gas power plant
located in PJM Interconnection's AEP-Dayton zone with a firm gas
supply agreement with a DTE Energy Company (DTE) subsidiary
guaranteed by DTE (Baa2 stable). The project performed well during
Winter Storm Elliott in December 2022 and expects to receive about
$10 million in capacity bonus payments from PJM. Energy margins
have been the primary driver of financial performance for SJEC
given the facility's competitive position relative to other
resources and the decline in capacity auction prices across PJM.
Moody's do not expect PJM capacity prices to recover appreciably in
the near term; the next auction is currently delayed and it is
uncertain when it will occur. SJEC has cleared capacity revenues
through May 2025.

The project's operating profile benefits from a long term service
agreement covering turbines and an operating and maintenance
agreement with Siemens. In spring 2023, Siemens upgraded the
plant's nominal capacity to 740.5 MW from its original nameplate
capacity of 715 MW, with payments to Siemens over time via a
revenue sharing agreement. This additional capacity will allow SJEC
to immediately generate higher energy revenues, which is positive
for the credit. SJEC will not be able to bid the incremental
capacity into the PJM market until it receives approval from PJM,
which Moody's understand could take at least 1-2 years.

The credit assessment incorporates SJEC's position as an efficient
and competitive combined cycle gas turbine power plant serving as a
baseload unit in PJM.  The credit profile remains tempered by the
plant's ongoing merchant exposure, with some nodal basis risk
relative to the AEP-Dayton Hub, a more expensive fuel relative to
other natural gas sources in the region. SJEC has implemented
rolling hedging for up to 50% of the plant's capacity to manage its
merchant exposure but remains exposed to ongoing merchant energy
risk.

The credit profile continues to benefit from creditor-friendly
features embedded in the loan agreement, including provisions for a
50% excess cash flow sweep along with a minimum quarterly target
debt balance. The target debt balance of $244.7 million upon the
term loan's maturity in 2028 helps to reduce refinancing risk. The
term loam and revolving credit facilities will continue to be
secured on a first lien basis by SJEC's tangible and intangible
assets. Liquidity will be provided by internal cash generation and
by access to its senior secured revolving credit facility and its
senior secured working capital facility.

RATINGS OUTLOOK

The stable outlook includes expectations for SJEC to maintain its
competitive position and strong operating profile so that it can
generate sufficient energy margin to support credit metrics within
the Ba rating category despite the challenged capacity market
outlook in PJM.

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

Factors that could lead to an Upgrade

-- Strong than expected financial performance with DSCRs
    consistently above 2.5x and project cash flow to debt metrics
    consistently above 15% for a sustained period

-- Sustained energy margin expansion coupled with materially
    higher capacity prices in PJM Interconnection

Factors that could lead to a Downgrade

-- Unexpected plant outage that persists for a sustained period
    reducing annual financial performance and anticipated debt
    reduction

-- A decline in financial performance with DSCRs below 1.6x and
    project cash flow to debt metrics below 8%

-- Energy margin compression in 2024 coupled with continued low
    capacity auction price outcomes for the upcoming auction

PROFILE

SJEC is located in St. Joseph County, Indiana, near the Town of New
Carlisle. The project consists of two Siemens SGT6-5000F(5ee) CTGs,
two Nooter/Eriksen HRSGs, and one Siemens STG. The HRSGs are
equipped with duct burners to supplement plant capacity, subject to
permit fuel throughput restrictions.

The project's sponsors include two separate funds managed by Ares
EIF Management, LLC for 80% of the equity, with Toyota Tsusho
America, Inc. holding the remaining 20%. Both sponsors have
experience in the US power market, in particular through
investments in combined cycle power plants.

METHODOLOGY

The principal methodology used in these ratings was Power
Generation Projects published in June 2023.


ST. JOSEPH ENERGY: S&P Affirms 'BB-' Debt Rating, Outlook Stable
----------------------------------------------------------------
S&P Global Ratings affirmed its 'BB-' rating on St. Joseph Energy
Center LLC's (SJEC) senior secured term loan B (TLB) and revolving
credit facility (RCF). The recovery rating is unchanged at '1', and
indicates the expectation of very high recovery in an event of
default.

The stable outlook reflects S&P's expectation of steady operations
and adequate debt service coverage during the TLB period, as well
as a minimum debt service coverage ratio (DSCR) of 1.40x through
the forecast project life (2023-2043).

SJEC is a 741 megawatt (MW) natural gas-fired combined cycle
generation facility in New Carlisle, Ind., in the American Electric
Power (AEP) zone of the PJM. The plant began commercial operations
April 1, 2018. It is jointly owned by affiliates of Ares EIF
Management LLC (80%) and Toyota Tsusho America Inc. The project
sells power into the AEP zone of the PJM, with capacity sold into
the PJM regional transmission organization (RTO).

SJEC is a highly efficient combined-cycle gas turbine (CCGT) power
plant with a heat rate of about 6,700 British thermal units per
kilowatt-hour (Btu/KWh). This places the project competitively in
the dispatch curve and enhances its ability to compete with other
generators. Over the years, upgrades have also been performed at
the facility, increasing its nameplate capacity to 741 MW from 715
MW.

The project's operating record has been consistent, with the
facility maintaining high availability and capacity factors since
achieving commercial operations. The plant also performed very well
during the winter storm in December 2022, with minimal disruptions,
and qualified for a bonus payment under PJM's pay-for-performance
mechanism. SJEC has also implemented winterization to protect
against freezing and ensure proper operations during cold-weather
events.

SJEC has firm natural gas supply and transportation agreements with
capable counterparties, DTE Energy Trading Inc. (DTE) and Vector
Pipeline L.P. The contracts cover the project's expected output and
provide reasonable certainty that it will be able to access fuel,
as and when needed.

SJEC is a single-asset CCGT facility, which exposes it to higher
risk of cash flow disruption arising from operational failure
(technical issues), or any event risks (extreme weather or force
majeure on a natural gas pipeline).

The project sells all its power produced on a merchant basis and
the wholesale power market is competitive. As are all merchant
power plants, SJEC is exposed to market risks, such as evolving
power demand and supply, power prices, cost of natural gas, and
capacity prices.

Given S&P's expectation of high capacity factors (70%-75%), SJEC's
financial performance (and debt repayment) is highly sensitive to
generation levels and spark spreads. This is a key competitive
factor, especially in light of weak capacity prices in the PJM.

Capacity prices in the PJM are at ultra-low levels, which is
affecting the cash generation of power plants to varying degrees,
depending on their operating characteristics (baseload versus
peaking). Given the project's high dispatch nature, S&P expects
capacity cash flows will represent no more than 20%-25% of overall
gross margins through TLB life.

Despite its highly efficient nature, SJEC remains exposed to
decarbonization risk over its life, with an aggressive buildout of
renewable-based capacity on the back of policy-level support,
including the Inflation Reduction Act and Renewable Portfolio
Standards, as well as strong momentum around environmental, social,
and governance investing.

S&P views the proposed transaction as credit supportive. SJEC is
proposing certain amendments to its senior secured TLB and RCF. One
of the key amendments proposed is extending the maturity of the TLB
and the RCF to 2028 from 2025. Other proposed amendments include
the addition of a target debt balance schedule, termination of the
existing interest rate swap, and the inclusion of DTE in the
permitted-lien basket. This would eliminate about $11 million in
currently utilized letter of credit (LOC) capacity that backstops
SJEC's obligations under the natural gas supply agreement with DTE.
The other terms of the credit facilities are unchanged.

S&P views the proposed transaction as credit supportive, largely in
light of the potential refinancing risk pertaining to the credit
facilities because their maturity dates are approaching in 2025.
Refinancing risk is a key consideration for merchant power
projects, such as SJEC, whose ability to roll over maturing debt
can be heavily influenced by industry conditions and general risk
appetite for market-sensitive assets. The amend-and-extend
transaction will alleviate that uncertainty until 2028, which it
believes is a reasonable time frame for the project to further
build on its operating track record, and delever its balance sheet
via cash flow sweeps.

Financial performance was strong in 2022. This is an example of how
modern and efficient CCGTs can capitalize on tight market
conditions. SJEC's operating and financial performance during 2022
was strong compared with that in previous years, albeit in line
with our expectations. Dispatch was high, at about 79%, and the
project captured very strong spark spreads, at about $24 per
megawatt-hour (/MWh), compared with realized spark spreads of
$7.40/MWh in 2020, and $11.90/MWh in 2021. SJEC's strong
performance during 2022 was a function of considerable tightening
in the natural gas market, with prices surging to record levels on
the back of recovering demand post-pandemic, as well as the
Russia-Ukraine conflict. Given the large representation of natural
gas-based capacity in the supply stack, power prices tend to have a
fair amount of correlation with natural gas prices. In addition,
PJM still has a substantial amount of coal-based capacity, with
coal-fired generators setting the price of power in some hours,
increasing market heat rates in the process, and benefiting
efficient generators such as SJEC, by expanding their spark
spreads. The project was also largely unhedged during 2022, which
allowed it to capitalize on the outsize margins available.

SJEC's performance during the December 2022 winter storm was also
strong. A significant amount of generation capacity (as much as 46
gigawatts [GW], or 24% of total available capacity) in the PJM was
offline during the storm due to technical failures or fuel
shortages. During this time, the project was mostly up and running,
with minimal disruptions, and had no issues accessing natural gas
fuel. The spark spread for December 2022 was almost $33/MWh, one of
the highest in SJEC's operating history. The project also qualified
for about $7.4 million in bonus payment under PJM's
pay-for-performance mechanism, which penalizes unavailable
generation resources and rewards performing generators during a
declared emergency or scarcity event. SJEC expects to receive the
payments under this bonus through 2023.

S&P said, "Given its baseload nature, the project's financial
performance and debt repayment are sensitive to changes in
generation and spark spreads. SJEC is a highly efficient thermal
project; therefore, we expect it to operate during the vast
majority of hours. This means that a significant portion of its
gross margins and cash flows are tied to plant output, and its
profitability per unit. In our forecast, we expect energy margins
will represent about 75% of the project's overall gross margins
through the TLB term. This is based on our expectation of capacity
factors of about 75%, as well as an average spark spread of about
$13.50/MWh through 2028." Any deviations that are weaker than
forecast will have a negative effect on the project's cash flows,
and consequently its debt repayment, which is primarily based on
cash flow sweeps. For example, at a 75% capacity factor, a $1/MWh
reduction in spark spread would lead to a reduction in gross
margins of about $4.8 million. Similarly, at a $13.50/MWh spark
spread, a five-percentage-point reduction in the capacity factor,
to 70%, would lead to a gross margin loss of about $4.3 million. A
reduction in both components--a $1/MWh decline in spark spread, and
a five-percentage-point reduction in generation--would result in a
margin decrease of almost $9 million.

Capacity prices in the PJM are at ultra-low levels; market reforms
are under consideration to address the situation. Capacity prices
in the PJM have continued to fall. The latest auction, which
procured capacity for delivery year 2024/2025, cleared RTO at a
historical low of $28.92 per megawatt-day (/MW-day). The cleared
price fell from $34/MW-day in 2023/2024, and $50/MW-day in
2022/2023, both of which were already considered to be very low.
For reference, RTO cleared at $140/MW-day for the 2021/2022
delivery year.

The falling capacity prices in the PJM have negatively affected
power generators, which rely on capacity-related cash flows to
varying degrees, depending on their operating profile. For projects
such as SJEC, which operate largely as high-dispatch, baseload
facilities, the effect of depressed capacity prices is limited,
given energy sales account for most of their gross margins. S&P
expects that, on average, energy margins will comprise at least
two-thirds of SJEC's gross margins through TLB life, which should
offset depressed capacity prices, provided the project operates in
line with our expectations and the energy market remains
supportive.

A combination of factors has contributed to the decline in capacity
prices in the PJM, including evolving market rules, auction
parameters, and general bidding behavior by market participants.
The reduced capacity prices can also be attributed to robust energy
pricing environment (at the time of the last auction), and
potential willingness on the part of generators to accept lower
prices in order to clear the capacity auction.

Current capacity price levels are widely viewed as unsustainable
because they do not allow generators to recover their costs. In
addition, an aggressive buildout of renewable capacity is making
the grid more unpredictable, and resource dependent, in the absence
of long-duration and economic energy storage solutions. Recent
extreme weather events, such as the December 2022 storm, have also
prompted market participants to reconsider the value of
dispatchable generation, and their contribution to resource
adequacy. PJM is undergoing a stakeholder process to address the
concerns around the capacity market, with proposed reforms to be
submitted to the Federal Energy Regulatory Commission for approval.
The 2025/2026 capacity auction has also been pushed to June 2024
and will likely incorporate the effect of market reforms.

S&P said, "The stable outlook reflects our expectation of adequate
debt service coverage during the TLB period, as well as a minimum
DSCR of 1.40x during the project life (2023-2043), based on our
assumptions, and forward-looking view of the energy and capacity
prices in SJEC's operating region. We expect the project to repay
nearly $100 million, or 30% of its debt outstanding through the
remaining TLB period (2023-2028).

"We will consider lowering the rating if we expect that the minimum
DSCR will fall below 1.35x on a sustained basis. This could result
from lower-than-expected capacity factors, weaker energy margins,
depressed capacity prices, and operational issues such as forced
outages and lower plant availability. We would also consider a
negative rating action if debt repayment, for any reason, is
materially lower than we expect, which would increase the residual
debt outstanding at TLB maturity, and potentially weaken the
projected DSCRs in the post-refinancing period, absent any
improvement in market conditions.

"We would consider a positive rating action if we envisioned the
project achieving DSCRs above 1.80x throughout the debt life,
including the refinancing period (2028-2043). This could occur if
the project's financial performance and debt repayment well exceed
our forecast due to factors such as improved energy margins, higher
dispatch, and substantially improved capacity pricing, leading to
lower-than-expected debt outstanding at TLB maturity."

-- Plant capacity of 741 MW

-- Capacity factor of 75% for the next 10 years, declining to
65%-70% during 2034-2043

-- Around-the-clock power prices of $40/MWh-$45/MWh

-- Average natural gas price of $4.50/MMBtu

-- Average spark spread of about $13/MWh

-- Capacity prices in the PJM RTO as cleared. For delivery years
2025/2026, 2026/2027, and 2027/2028, S&P assumes prices of
$45/MW-day, $60/MW-day, and $80/MW-day. Beyond that, S&P escalates
prices at 2% annually

-- Ancillary revenues of about $6.4 million per year, including
$2.8 million in fixed cash flows from black start services

-- Fixed operations and maintenance (O&M) expenses and capital
spending in line with management estimates

-- TLB outstanding at maturity of about $240 million

-- For the refinancing of the TLB, S&P assumes a sculpted
amortization approach, and assume all debt is repaid by the end of
2043

-- All-in refinancing rate of about 7.5% (inclusive of a 4.5%
credit spread)

-- Minimum DSCR of 1.40x through 2043

-- Median DSCR of 1.53x through 2043

-- Downside starts toward the end of 2023

-- Heat rate deterioration of 3%

-- Capacity factors reduced by 5%

-- Spark spread stress of about 20%-30% (incudes the impact of
heat rate stress)

-- Ancillary revenues (variable portion) reduced by 10%

-- Increase of 12% in fixed and variable O&M, as well as capital
spending from our base-case scenario

-- Refinancing rate of 11% (SOFR: 5%, credit spread: 6%)

S&P said, "Under our downside-case assumptions, cash flow available
for debt service (CFADS) is lower by 40%-50% compared with the
base-case scenario. This is generally aligned with our expectation
of declining cash flow for single-asset, merchant projects, under a
stress scenario. Despite the significant decline in cash flow under
our downside case, we believe that the project should be able to
sustain itself for a period of at least three years, before
depleting its reserves. The expectation is based on minimal
mandatory debt repayments (largely interest only) under the TLB
structure; access to a dedicated six-month debt service reserve
(DSRA), which as of June 30, 2023, was $10.8 million; and general
availability under the RCF of $7.9 million that can be used to
backstop any shortfalls in servicing debt."

This level of coverage maps to a modest resilience assessment,
which uplifts the preliminary operations phase SACP by one notch to
'bb-'.

Liquidity

S&P assesses liquidity as neutral. S&P anticipates that over the
next 12 months, sources of cash, inclusive of CFADS, the DSRA, and
general availability under the RCF, will exceed uses, which
primarily represent debt service.

S&P Global Ratings' default scenario contemplates a significant
legal claim against the project as the trigger for a potential
default or bankruptcy filing. S&P Global Ratings believes that if
the project defaulted, there would continue to be a viable business
model driven by the continued demand for electricity in the market.
Therefore, S&P believes that lenders would achieve the greatest
recovery amounts through reorganization of the project rather than
a liquidation of its assets.

S&P said, "Our simulated default scenario in 2027 envisions that
SJEC exhausts its liquidity due to difficult market conditions
(declining spark spreads and reduced capacity pricing) and
operational issues such as increasing O&M costs and lower
efficiency, as well as forced outages during capacity performance
events that cause the plant to incur significant penalties.

"We value the project using a distressed valuation of $500 per
kilowatt (/kW). This is consistent with peers that operate in the
same market and have similar technological and operational
characteristics.

"We also assume that the LOC of $31 million and the working capital
facility of $7.9 million are fully drawn at default."

-- Simulated year of default: 2027

-- Total capacity: 741 MW

-- Plant valuation: $500/kW

-- Net enterprise value (after 5% administrative costs): $352
million

-- Secured debt outstanding (including fully drawn RCF, LOCs, and
six months' interest): About $375 million

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



STAR INTERMEDIATE: Fitch Gives B+(EXP) LongTerm IDR, Outlook Stable
-------------------------------------------------------------------
Fitch Ratings has assigned 'B+(EXP)' Long-Term Issuer Default
Ratings (IDRs) to Star Intermediate Holdings, Inc. and its
subsidiary, Star Parent, Inc. (collectively, Syneos). Fitch has
also assigned 'BB(EXP)'/'RR2' ratings to Star Parent, Inc.'s
proposed senior secured credit facilities and senior secured notes.
The Rating Outlook is Stable.

The 'B+(EXP)' IDR reflects Syneos' competitive position as one of
the leading contract research organizations (CROs) in the global
markets, significant portion of contracted/recurring revenue,
diversified customer base and service offerings, and consistent
positive cashflow generation. The rating is currently constrained
by high gross leverage post-closing of the LBO transaction,
execution risk around Syneos' business turnaround strategies and
cost savings plan, and uncertainties around macroeconomic
conditions and availability of biotech funding.

Fitch believes profit margins would need to expand meaningfully and
sustainably in the near term for gross leverage to be sustained
below 5.0x, a level commensurate with the 'BB-' rating. Fitch sees
positive momentum from Syneos' actions to address operational
missteps and to enhance operations and improve capabilities to
serve customers on a global scale, but recognizes that such
improvements are likely to take time to materialize.

Fitch expects to convert the expected ratings to final ratings upon
completion of the LBO transaction and the debt transactions, and
upon receipt of the final documentation.

KEY RATING DRIVERS

Addressing Operational Missteps: Fitch believes Syneos is taking a
holistic approach in response to operational challenges that
emerged in recent years. Clinical trial performance issues stemming
from operational silos and elevated employee turnover have been
addressed actively through a combination of cross-functional
collaboration, dedicated resources for customer support, and
targeted employee retention strategies. The company has also
implemented critical upgrades to operational and back-office
systems to improve workflow and data quality. These concerted
efforts demonstrate Syneos' commitment to enhancing trial outcomes,
strengthening customer relationships and sustaining operational
excellence.

As customers recognize the progress Syneos has made in resolving
its operational issues, net new business awards have improved
sequentially from 2H22 to 1H23 by 61% (still a 21% decline in
comparison to 1H22). Such improvement, primarily from the Clinical
Solutions segment, was driven by strengths from key top-50 pharma
customers and by an upward trend in repeat business, higher win
rate, larger award size and an increase in number of Phase III
studies among small and mid-size (SMID) biotech clients. However,
Fitch expects cautiousness with spending from customers as a result
of uncertain macroeconomic conditions will continue to affect the
overall revenue growth in 2023 and 2024.

Margin Expansion in Focus: Fitch expects Fitch-defined EBITDA
margin to be around 12.4% in 2023 before expanding to 14%-15%
thereafter. EBITDA margin in 1H23 declined sequentially by 70 bps
from 12.6% in 2H22 primarily as a result of higher reimbursable
out-of-pocket expenses and personnel costs, and a less favourable
revenue mix, driven by new deployments of field teams. Fitch
forecasts incremental improvement in EBITDA margin in 2H23 as a
result of better staffing utilization rates and a more favourable
service and pricing mix, as well as modest benefits from recently
implemented process optimization, workforce management and
automation initiatives.

Margin expansion post-2023 will be driven by a combination of
operating leverage, inflationary price improvements and realized
benefits from additional cost saving initiatives. Fitch notes that
Syneos' abilities to revitalize growth and bring margin in-line
with peers are consequential in maintaining EBITDA leverage in the
5.0x-6.0x range, a level commensurate with the 'B+' rating.

Prioritizing Organic Investments: Fitch expects near-term capital
deployment priority is to invest in the business to improve
customer perception through delivery capability and operational
consistency, expand Syneos' strengths in core therapeutic areas,
grow its Clinical Solutions business into complementary markets and
geographies, and move the Commercial Solutions business towards
higher growth and higher margin solutions. Fitch further believes
Syneos will remain opportunistic in the M&A front, albeit less
likely in the near term.

Over the rating horizon, Fitch expects Syneos to have sufficient
level of liquidity through a combination of cash on hand, an
undrawn $500 million revolving facility and positive FCF
generation. Fitch believes positive cashflow will decline in the
near term as Syneos continues to make investments to enhance
operations and reposition itself in the industry. Fitch notes that
Syneos can accelerate its plan to reduce debt outstanding by
allocating the projected positive FCF towards voluntary debt
repayments, which Fitch has not assumed the company to do so in the
base case. Fitch also has not assumed that Syneos will pay
dividends to the private equity sponsors in the rating horizon.

Industry Fundamentals Remain Healthy: Fitch believes the CRO
industry will remain resilient in the near term despite expectation
of macroeconomic uncertainties influencing customer spending
decisions. Fitch continues to see growing demand for efficient,
patient-centric clinical development services. Increased complexity
within the regulatory framework and hesitancy among pharma, biotech
and medical device companies to increase headcounts limit
in-sourcing risks. Advances in molecular biology and genetics will
continue to drive innovation and create growth opportunities for
CROs and their strategic partners.

The CRO industry remains highly fragmented, consisting of hundreds
of small, limited service providers and mid-size vendors, and a
small number of large-scale CROs. Fitch notes that there are
significant barriers to become a CRO with global expertise and
capabilities. These barriers include infrastructure and expertise
necessary to serve global demand of clients, recruit sites and
patients globally, simultaneously manage complex clinical trials,
and offer customers a variety of delivery models and broad
therapeutic expertise. Fitch expects M&A activities to remain an
integral part of growth strategy for the industry.

DERIVATION SUMMARY

The 'B+(EXP)' IDR reflects Syneos' competitive position as one of
the leading CROs in the global markets, significant portion of
contracted/recurring revenue, diversified customer base and service
offerings, and consistent positive cashflow generation. The rating
is currently constrained by high gross leverage post-closing of the
LBO transaction, execution risk around Syneos' business turnaround
strategies and cost savings plan, and uncertainties around
macroeconomic conditions and availability of biotech funding.

IQVIA Holdings, Inc. and ICON plc benefit from larger operations,
greater geographic and business diversification, higher level of
profitability and lower gross leverage. Fortrea Holdings, Inc.
(BB/Negative) is expected to implement a prudent financial policy
by maintaining long-term net leverage target of 2.5x-3.0x. Charles
River Laboratories International, Inc. (BBB-/Stable) maintains a
strong competitive position with a track-record of gross leverage
maintenance below 3.0x in recent years.

Parent-Subsidiary Linkage

The IDRs of Star Intermediate Holdings, Inc. and Star Parent, Inc.
are rated on a consolidated basis, using the weak parent/strong
subsidiary approach, open access and control factors based on the
intercompany guarantees of senior secured debt, and the entities
operating as a single enterprise with strong legal and operational
ties.

KEY ASSUMPTIONS

- Gross revenue of $5.150 billion-$5.170 billion and EBITDA margin
of 12.0%-12.5% in 2023;

- Organic gross revenue growth in the low-single digits in 2024 and
in the mid-single digits thereafter;

- EBITDA margin expands to 14%-15% post-2023;

- Effective interest rates of 8.0%-9.0% over the forecast period,
moving with SOFR;

- Capex of 1.5%-2.0% of gross revenue over the forecast period;

- Positive FCF of $50 million-$60 million in 2023 and $170
million-$300 million per year thereafter;

- Acquisitions totaling $400 million post-2024;

- No allocation of discretionary FCF towards voluntary debt
repayments and dividend payments.

RATING SENSITIVITIES

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

- Improved growth prospects and profit margin expansion that result
in EBITDA leverage durably below 5.0x;

- Capital deployment strategies that lead to Fitch's expectation of
FCF/debt sustaining above 5.0%.

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

- Diminished growth prospects and profit margin contraction that
result in EBITDA leverage durable above 6.0x;

- Capital deployment strategies that lead to Fitch's expectation of
neutral FCF generation and EBITDA interest coverage durably below
2.5x.

LIQUIDITY AND DEBT STRUCTURE

Sufficient Liquidity: Fitch believes Syneos will have sufficient
liquidity given the expectation of an undrawn $500 million
revolving facility, $200 million of cash on hand, of which $125
million is earmarked to fund value creation post-closing, and
positive FCF in the rating horizon despite one-time costs to fund
value creation initiatives in the near term. The company will have
no meaningful debt maturities, and Fitch expects FCF and cash
balances will be more than adequate to fund term loan amortization.
Fitch believes Syneos will prioritize organic investments in the
near term, and when opportunities arise, tuck-in acquisitions.
Fitch has not assumed that FCF will be directed towards voluntary
debt repayments and dividend payments in the base case.

Debt Maturities: The senior secured revolving facility will have a
five-year maturity, and the senior secured term loan B and senior
secured notes will have seven-year maturities at closing. Term loan
amortization is expected to be $20 million per year. Fitch assumes
effective interest rate will be 8.0%-9.0% in the rating horizon.

Debt Notching Considerations: The 'BB(EXP)'/'RR2' ratings for
Syneos' proposed senior secured credit facilities and senior
secured notes reflect Fitch's expectation of recoveries for such
debt in the range of 71%-90% in a bankruptcy scenario.

Recovery Analysis: Fitch estimates an enterprise value (EV) on a
going-concern basis of $3.5 billion after deducting 10% for
administrative claims assumed to accrue from restructuring for
Syneos. The estimated EV reflects estimated post-reorganization
EBITDA of $550 million (GC EBITDA), reflecting Fitch's view that GC
EBITDA around these levels is likely to trigger a default or
restructuring amid significant refinancing risk from negative
cashflow generation and high gross leverage.

Fitch's GC EBITDA calculation is based on a scenario in which (i)
unfavorable macroeconomic conditions and limited biotech funding
further delay customer spending decisions and awarding new
businesses, (ii) elevated employee turnover leads to below-average
clinical/commercial delivery and customer dissatisfaction,
resulting in high project cancellation rates, and (iii) cost saving
initiatives are not materialized meaningfully to cover expenses
associated with such value creation initiatives.

The $3.5 billion EV further reflects Fitch's use of a 7.0x
EV/EBITDA multiple. This reflects (i) high barriers to entry to
become a large-scale CRO that can serve customer demand and support
complex clinical trials on a global scale, (ii) relatively
consistent and stable R&D spending from pharma, biotech and medical
device companies through economic cycles, and (iii) Syneos'
competitive position among the top CROs in the global markets and
high level of contracted/recurring revenue.

In estimating claims, Fitch assumes that Syneos would draw the full
amount available on the $500 million senior secured revolving
facility in a bankruptcy scenario, and includes that amount of debt
in the claims waterfall. The waterfall analysis also reflects
senior secured claims consisting of $2.0 billion of senior secured
term loan B and $1.7 billion of senior secured notes, all of which
are collateralized by the capital stock of Star Parent, Inc. and
substantially all of the assets of Star Parent, Inc. and Syneos
Health, Inc.'s wholly owned U.S. restricted subsidiaries.

Fitch understands that Syneos does not expect its non-guarantor
subsidiaries (Syneos Health, Inc.'s foreign subsidiaries) to incur
any debt post-LBO. Therefore, Fitch assumes that the value
generated by non-guarantor subsidiaries would be available for
claims, resulting in the senior secured debt recovering in the
71%-90% range.

ISSUER PROFILE

Star Intermediate Holdings, Inc. and its subsidiary, Star Parent,
Inc. (collectively, Syneos) provide development and
commercialization solutions to pharmaceutical, biotechnology and
medical device industries. Syneos, headquartered in Morrisville,
NC, has more than 29,000 global employees and operates in over 60
countries.

ESG CONSIDERATIONS

The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit-neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.

   Entity/Debt            Rating                     Recovery   
   -----------            ------                     --------   
Star Intermediate
Holdings, Inc.      LT IDR B+(EXP)  Expected Rating

Star Parent, Inc.   LT IDR B+(EXP)  Expected Rating

   senior secured   LT     BB(EXP)  Expected Rating     RR2


STAR PARENT: Moody's Assigns 'B1' CFR, Outlook Stable
-----------------------------------------------------
Moody's Investors Service assigned a B1 Corporate Family Rating and
B1-PD Probability of Default Rating to Star Parent, Inc.
("Syneos"). At the same time, Moody's assigned a B1 rating to the
proposed senior secured first lien facility comprised of a $500
million revolving credit facility and $2 billion term loan B due
2030. Concurrently, Moody's assigned a B1 rating to the $1.7
billion of senior secured notes due 2030. The ratings outlook is
stable.

Proceeds from the term loan and senior secured notes will be used,
in combination with nearly $4 billion of equity, to fund the
leveraged buyout of Syneos, including repaying its existing debt,
as well as fees and expenses. The deal is expected to close in the
second half of 2023. After the close, and once the outstanding debt
is fully repaid, Moody's expects to withdraw the ratings of Syneos
Health, Inc. (Syneos Health).

"Notwithstanding Syneos' meaningful decline in the clinical
solutions book-to-bill ratio in recent quarters, Moody's expects
the company to return to growth, and stabilize profitability
margins, over the next 12 to 18 months," said Vladimir Ronin,
Moody's lead analyst for the company. "While delays in customer
award decisions and softening in request for proposal flow in both
small to mid-sized and large pharma customers will result in
weakening of credit metrics in 2023, Moody's expects Syneos to
benefit from ongoing cost saving initiatives, as well as the
long-term trend of growing demand from the pharmaceutical and
biotech industry for outsourced clinical research services,"
continued Ronin.

Assignments:

Issuer: Star Parent, Inc.

Corporate Family Rating, Assigned B1

Probability of Default Rating, Assigned B1-PD

Backed Senior Secured First Lien Term Loan B, Assigned B1

Backed Senior Secured First Lien Revolving Credit Facility,
Assigned B1

Backed Senior Secured Regular Bond/Debenture, Assigned B1

Outlook Actions:

Issuer: Star Parent, Inc.

Outlook, Assigned Stable

ESG factors are material to the ratings assignment. Social risk
considerations relate to pharmaceutical drug pricing and industry
consolidation which could result in customer additional pricing
pressure. Governance risk considerations include the company's
moderately high financial leverage, as well as private equity
ownership, which creates risk of aggressive financial policies.

RATINGS RATIONALE

Syneos' B1 Corporate Family Rating reflects the company's
considerable size, geographic footprint, and established market
positions as both a pharmaceutical contract research organization
(CRO) and provider of commercialization services. The ratings are
also supported by the company's good liquidity, including sustained
positive free cash flows. The ratings reflect Syneos' moderately
high pro forma financial leverage with Moody's adjusted debt/EBITDA
of 5.0x, for the twelve months period ended June 30, 2023. Syneos'
rating also encompasses the risks inherent in the pharmaceutical
services industry, including project delays and cancellations.

Moody's expects that Syneos will maintain good liquidity over the
next 12 months. Liquidity will be supported by cash of
approximately $200 million at the close of the transaction, as well
as Moody's expectation that Syneos will generate free cash flow
over the next 12 months. Syneos' liquidity will be further
supported by a $500 million revolving credit facility expiring in
2028. The facility will be undrawn at the close of the
transaction.

As proposed, the new credit facilities are expected to provide
covenant flexibility that if utilized could negatively impact
creditors. Notable terms include the following:

Incremental debt capacity up to (A) the greater of $788 million and
100% of consolidated EBITDA, plus (B) amounts reallocated from the
general debt basket, plus (C) unlimited amounts subject to 4.70x
first lien net leverage ratio (if pari passu secured). Amounts up
to greater of $788 million and 100% of consolidated EBITDA, or
incurred in connection with an acquisition or investment may be
incurred with an earlier maturity than the initial term loans. The
credit agreement also allows permitted alternative security debt,
guaranteed by non-guarantors or secured by non-collateral, up to
the greater of 100% of closing date EBITDA and 100% of LTM
consolidated EBITDA. The credit agreement also permits the
incurrence of unsecured debt using capacity reallocated from the
available amount basket.

There are no express "blocker" provisions which prohibit the
transfer of specified assets to unrestricted subsidiaries; such
transfers are permitted subject to carve-out capacity and other
conditions.

Non-wholly-owned subsidiaries are not required to provide
guarantees; dividends or transfers resulting in partial ownership
of subsidiary guarantors could jeopardize guarantees, subject to
"customary limitations as to the automatic release of Guarantors
that cease to be wholly-owned subsidiaries" TBD.

The credit agreement provides some limitations on up-tiering
transactions, including affected lender consent for the
subordination of liens, subject to exceptions TBD.

The first lien senior secured bank credit facilities and senior
secured notes are rated B1, in line with the Corporate Family
Rating, reflecting the presence of only one class of debt within
the capital structure. These facilities benefit from a first lien
pledged on all assets and contain upstream and downstream
guarantees. Star Parent, Inc. is the borrower, and the debt will be
guaranteed by domestic operating subsidiaries and Star Intermediate
Holdings, Inc., the entity at which audited financials will be
provided.

Syneos' CIS-4 indicates the rating is lower than it would have been
if ESG risk exposures did not exist. The score reflects exposure to
social risks (S-3) related to pharmaceutical drug pricing, which
could have both positive and negative effects for Syneos.
Legislation that reduces drug prices such as the recently passed US
Inflation Reduction Act could have a negative impact on Syneos if
pharmaceutical customers look to trim expenses or reduce the scope
of existing projects. Additionally, large mergers could result in
customer consolidation and pricing pressure. However, drug pricing
pressure in the US may spur the need for Syneos' customers to
invest more heavily in R&D, which would be a benefit. Governance
risks (G-4) reflect Syneos' moderately high financial leverage, as
well as private equity ownership, which creates risk of aggressive
financial policies, such as debt-financed acquisitions including
those that bring execution risk.

The stable outlook reflects Moody's expectation that despite
operational headwinds and moderately high financial leverage, the
company will return to growth, stabilize profitability margins and
sustain positive free cash flows, over the next 12 to 18 months.

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

Moody's could upgrade the ratings if Syneos demonstrates consistent
revenue growth, stable profit margins and strong liquidity.
Quantitatively, ratings could be upgraded if adjusted debt to
EBITDA is sustained below 4.5 times.

Moody's could downgrade Syneos' ratings if the company's operating
performance significantly weakens, or liquidity deteriorates.
Ratings could also be downgraded if the company executes material
debt-funded acquisitions or shareholder distributions, resulting in
debt to EBITDA sustained above 5.5 times.

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

Star Parent Inc. ("Syneos"), headquartered in Morrisville, North
Carolina, is a leading global fully integrated biopharmaceutical
solutions organization providing outsourced clinical development,
medical affairs, and commercial services for pharmaceutical and
biotechnology companies. The company generated net revenues of
approximately $3.9 billion for the twelve months ended June 30,
2023. The company will be privately held by Elliott Investment
Management L.P., Patient Square Capital, and Veritas Capital,
following leveraged buyout.


SUMMIT MATERIALS: S&P Places 'BB' ICR on CreditWatch Positive
-------------------------------------------------------------
S&P Global Ratings placed all its ratings on U.S.-based cement,
aggregates, and ready-mix provider Summit Materials LLC, including
the 'BB' issuer credit rating, on CreditWatch with positive
implications.

The CreditWatch positive reflects the possibility of a higher
rating following the close of the transaction, which S&P expects in
the first half of 2024.

S&P said, "We expect Summit Materials to benefit from increased
scale and capacity as a cement producer after the transaction
closes, sustaining adjusting leverage in the 3x-4x range. We expect
the merger will increase Summit Materials' scale, the scope of its
operations, and geographic diversity. We expect the combined
company to produce $4 billion-$5 billion in annual revenue and have
an earnings base of $900 million-$1 billion. Based on proposed
financing terms, we believe adjusted leverage could still remain
within our prior expectations of 3x-4x for 2024. At closing,
Cementos Argos shareholders will own approximately 31% of the
combined company.

"On a stand-alone basis, we expect Summit Materials' performance
and credit measures to remain in line with our expectation, helped
by strong demand from the nonresidential and infrastructure end
markets.

"The CreditWatch placement reflects that the potential we could
raise our ratings on Summit by one notch if we believe the company
can maintain adjusted leverage of 3x-4x on a sustained basis after
the transaction closes. We expect to resolve the CreditWatch once
we have additional information on the proposed capital structure or
at the close of the transaction in the first half of 2024."

Summit Materials is a publicly traded entity that produces and
sells aggregates, cement, ready-mix concrete, asphalt paving mix,
and concrete products and provides paving and related services.
Summit primarily serves the construction industry, including the
private residential and nonresidential markets and the public
infrastructure market. The company operates with assets in 21 U.S.
states and the Canadian province of British Columbia.



TAMKO BUILDING: Moody's Rates New Senior Secured Term Loan 'B2'
---------------------------------------------------------------
Moody's Investors Service assigned a B2 rating to TAMKO Building
Products LLC's proposed senior secured 7-year term loan. Proceeds
from the new term loan and cash on hand will go towards paying off
the company's existing senior secured term loan due 2026 and
related fees and expenses in a leverage-neutral transaction. The B2
rating on the existing term loan will be withdrawn upon full
redemption. TAMKO's B1 corporate family rating and B1-PD
probability of default rating are not affected. The outlook is
stable.

Moody's views the proposed transaction as credit positive,
resulting in an extended maturity profile. TAMKO's $225 million
asset based revolving credit facility is the nearest credit
facility that comes due, reverting to its stated maturity in
January 2028. There will be some additional interest costs, which
is not material relative to TAMKO's total interest expense of about
$51 million, which includes Moody's adjustments, for the last
twelve months ending June 30, 2023.

Assignments:

Issuer: TAMKO Building Products LLC

Senior Secured 1st Lien Term Loan B, Assigned B2

RATINGS RATIONALE

TAMKO's B1 CFR is well positioned to contend with the decline in
the residential end market, the main revenue driver. Further, the
founding family and The Carlyle Group will continue to monetize
their investments in TAMKO with the potential of sizable debt
financed dividends. At the same time, TAMKO is a small company in
terms of revenue and operates in very competitive markets.

However good operating performance provides a major offset to the
correction in the housing market and other credit challenges.
Moody's are not changing Moody's previous expectations of adjusted
EBITDA margin in the run-rate range of 21% — 22% through 2024,
which is the company's greatest credit strength, and adjusted
debt-to-EBITDA will remain below 4x over the next eighteen months.
A good liquidity profile, no near term maturities and inelastic
demand for roofing products further enhance TAMKO's credit profile

Moody's project TAMKO will have good liquidity over the next two
years, generating decent cash flow (prior to discretionary
dividends) each year. Dividends are paid throughout the year.
Revolver availability is more than sufficient to meet working
capital needs due to seasonal demands. TAMKO has access to a $225
million asset based revolving credit facility, which is governed by
a borrowing base calculation that fluctuates with business
seasonality. Availability totaled about $220 million on June 30,
2023, after considering no borrowings, minimal letter of credit
commitments and the borrowing base formula. TAMKO uses the revolver
for potential working capital needs and letter of credit
commitments.

The stable outlook reflects Moody's expectation that TAMKO will
continue to perform well, generating good operating margin and
benefiting from inelastic demand for roofing products. A good
liquidity profile and no material maturities until 2028 further
support the stable outlook.

The B2 rating on TAMKO's senior secured term loan, one notch below
the CFR, results from its subordination to the company's asset
based revolving credit facility. The term loan has a first lien on
substantially all noncurrent assets and a second lien on assets
securing the company's asset based revolving credit facility (ABL
priority collateral). The term loan does not have financial
maintenance covenants.

TAMKO's ability to increase debt is substantially consistent with
the company's credit agreement governing its existing term loan.
Incremental debt facilities that are pari passu to the existing
term loan may not exceed an amount equal to the sum of (a) the
greater of $225mm and 100% of LTM consolidated EBITDA (about $250
million) and (b) an unlimited amount of additional debt subject to
pro forma first lien net leverage of 4.35x.

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

An upgrade of TAMKO's ratings could ensue if end markets remain
supportive of organic growth such that adjusted debt-to-EBITDA is
below 3.5x. Upwards rating movement also requires preservation of
at least good liquidity and maintaining conservative financial
policies.

A downgrade could occur if TAMKO's adjusted debt-to-EBITDA is above
4.5x or interest coverage, measured as EBITA-to-interest expense,
is sustained below 2x. Negative ratings pressure may also take
place if the company experiences a weakening of liquidity or adopts
aggressive dividend initiatives.

The principal methodology used in this rating was Manufacturing
published in September 2021.

TAMKO Building Products LLC, headquartered in Galena, Kansas, is a
manufacturer and marketer of residential roofing products and
accessories throughout the United States. The founding family has a
majority interest in TAMKO and The Carlyle Group, through its
affiliates, owns a minority interest.


TAMPA BAY PLUMBERS: Wins Interim Cash Collateral Access
-------------------------------------------------------
The U.S. Bankruptcy Court for the Middle District of Florida, Tampa
Division, authorized Tampa Bay Plumbers, LLC to use cash collateral
on an interim basis in accordance with the budget, retroactive to
July 10, 2023.

As previously reported by the Troubled Company Reporter, the
creditors that may assert blanket liens against the Debtor's assets
are Corporation Service Company, as representative, American
Express National Bank, U.S. Small Business Administration, Western
Equipment Finance, Inc., Alliance Funding Group, Pawnee Leasing
Corporation, Dedicated Funding, LLC/First Foundation Bank, Wells
Fargo Bank, N.A., ASSN Company, American Bank, N.A, First Horizon
Bank, and UCC Filer 2.

The Debtor estimates that the Secured Creditors' collective claims
are secured by $451,891. The Secured Creditor Assets include
$349,891 in cash and accounts receivable.

The court said the Debtor is permitted to use cash collateral to
pay: (a) amounts expressly authorized by the Court; (b) one quarter
of the current and necessary expenses set forth in the budget, plus
an amount not to exceed 10% for each line item; and (c) such
additional amounts as may be expressly approved in writing by the
Secured Creditors.

As adequate protection for the use of cash collateral, the Secured
Creditors will have perfected post-petition liens against cash
collateral to the same extent and with the same validity and
priority as their prepetition liens, without the need to file or
execute any document as may otherwise be required under applicable
non bankruptcy law.

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

A continued hearing on the matter is set for October 5 at 1:30
p.m.

A copy of the order is available at https://urlcurt.com/u?l=a9O1nv
from PacerMonitor.com.

                  About Tampa Bay Plumbers, LLC

Tampa Bay Plumbers, LLC sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 23-02904) on July
10, 2023. In the petition signed by Ryan J. Pelky, its manager, the
Debtor disclosed $1,781,764 in assets and $4,418,145 in
liabilities.

Judge Catherine Peek McEwen oversees the case.

Buddy D. Ford, Esq., represents the Debtor as legal counsel.


THREE AMINOS: Taps TechCXO as Consulting Services Provider
----------------------------------------------------------
Three Aminos, LLC seeks approval from the U.S. Bankruptcy Court for
the Middle District of Tennessee to employ TechCXO as fractional
chief operating officer, chief financial officer and controller
consulting services provider.

The firm's services include:

     a. preparing statements and schedules, monthly operating
reports, financial projects and other documents to be filed with
the court;

     b. providing accounting services to the Debtor;

     c. assisting in managing the operation of the Debtor; and

     d. performing other services as needed in this Chapter  case.

The firm's professionals will be paid at these hourly rates:

     Peter Clifton      $275
     Lori Paro          $270
     Anne Miller        $150

TechCXO is a "disinterested person" as defined in Section 101(14)
of the Bankruptcy Code, according to the court filing.

The firm can be reached through:

      Peter Clifton
      TechCXO
      75 5th St NW UNIT 3515
      Atlanta, GA 30332
      Phone: (678) 636-0004
      Email: peter.clifton@techcxo.com

              About Three Aminos

Three Aminos, LLC, a company in Franklin, Tenn., filed Chapter 11
petition (Bankr. M.D. Tenn. Case No. 23-02202) on June 21, 2023,
with $100,000 to $500,000 in assets and $1 million to $10 million
in liabilities. Laura Lile, authorized representative, signed the
petition.

Judge Charles M. Walker oversees the case.

Austin L. McMullen, Esq., at Bradley Arant Boult Cummings, LLP is
the Debtor's counsel.


TOLIAO IOROI: Gets OK to Hire Tang & Associates as Counsel
----------------------------------------------------------
Toliao Ioroi Holding, LLC, received approval from the U.S.
Bankruptcy Court for the Northern District of California to hire
the law firm of Tang & Associates.

The Debtor requires legal counsel to:

     (a) Advise the Debtor on matters relating to the
administration of the estate, the Debtor's rights and remedies
about the estate's assets and the claims of secured and unsecured
creditors;

     (b) Appear for, prosecute, defend and represent the Debtor's
interest in suits arising in or related to its Chapter 11 case,
including any adversary proceedings against the Debtor;

     (c) Assist in the preparation of pleadings and other
documents; and

     (d) Represent the Debtor in any adversary proceeding to
recover assets of the bankruptcy estate.

Tang & Associates charges $400 per hour for the services of Kevin
Tang, Esq., and $200 per hour for paralegal and law clerk services.


The retainer fee is $12,000.

Mr. Tang disclosed in a court filing that he and his firm are
"disinterested persons" pursuant to Section 101(14) of the
Bankruptcy Code.

Tang & Associates can be reached at:

     Kevin Tang, Esq.
     Tang & Associates
     17011 Beach Blvd., Ste. 900
     Huntington Beach, CA 92647
     Phone:(714) 594-7022
     Fax: (714) 594-7024
     Email: kevin@tang-associates.com

                      About Toliao Ioroi

Toliao Ioroi Holding, LLC, operates a restaurant in California with
indoor and outdoor seating.

The Debtor filed a Chapter 11 petition (Bankr. N.D. Cal. Case No.
23-30498) on July 26, 2023, with $718,637 in assets and $2,982,464
in liabilities.  Mark Sharf, Esq., a practicing attorney in Los
Angeles, has been appointed as Subchapter V trustee.

Judge Hannah L. Blumenstiel oversees the case.

Kevin Tang, Esq., at Tang & Associates, is the Debtor's counsel.


TORTOISEECOFIN BORROWER: Moody's Cuts CFR to 'Caa2', Outlook Neg.
-----------------------------------------------------------------
Moody's Investors Service has downgraded TortoiseEcofin Borrower
LLC's corporate family rating to Caa2 from Caa1 and its probability
of default rating to Caa2-PD from Caa1-PD. Moody's also downgraded
TortoiseEcofin's senior secured term loan to Caa2 from Caa1. The
rating outlook remains negative.

The downgrade reflects TortoiseEcofin's continued weak operating
performance and constrained liquidity that has resulted in very
high leverage with debt to EBITDA of over 12 times and weakening
interest coverage with EBITDA to interest expense trending under
1.0 times for the first half of 2023. The rating action is further
supported by Moody's view that TortoiseEcofin's liquidity will
remain constrained because Moody's expect the company's operating
cash flow to remain negative over the next 12 months which will
require the company to draw down its cash to support debt service
and other obligations. As a result, Moody's view TortoiseEcofin's
capital structure as unsustainable and that some form of
recapitalization transaction will be needed to address the
company's leverage and liquidity. Although TortoiseEcofin has seen
some asset under management (AUM) growth in 2023, it remains about
50% below its pre-pandemic highs and Moody's do not expect
significant AUM growth catalysts from here given the current market
volatility and the company's net flow trends.

The negative outlook reflects Moody's view that TortoiseEcofin is
not likely to experience a significant rebound in operating
performance given current macroeconomic uncertainty and volatility
which increases the likelihood of an eventual distressed debt
exchange.

RATINGS RATIONALE

TortoiseEcofin's Caa2 CFR reflects its weak liquidity profile,
excessive financial leverage, and concentrated asset base. The
company's internal sources of cash have been steadily declining
with total liquidity sources amounting to about $30.5 million in
balance sheet cash and investments as of June 30, 2023, compared to
over $65 million at year-end 2022. Barring a capital infusion from
existing owners, TortoiseEcofin has limited access to external cash
sources.

While financial leverage has stabilized in recent quarters, it
remains excessive at about 12x debt-to-EBITDA, as adjusted by
Moody's, for the last twelve months ended June 30, 2023. This
represents a decrease of about one turn from the 2022 figure.
However, adjusted EBITDA coverage of interest expense has declined
to 0.9x over the first half of 2023, down from over 1x for 2022.

The rating also considers TortoiseEcofin's concentrated asset base
which exposes the company to significant market risks and given
tightening liquidity conditions makes it vulnerable to execution
risks. The rating is further constrained by the company's
concentrated ownership structure. Moody's believe TortoiseEcofin's
weakened financial position poses a higher risk to creditors, and
the lack of clarity regarding potential outcomes for resolving the
company's high leverage increases the likelihood of debt
restructuring. Moody's has revised Tortoise's Governance Issuer
Profile Score (IPS) to G-5 from G-4.  These factors, along with
TortoiseEcofin's exposure to secular societal trends impacting the
asset management sector, are reflected in its Credit Impact Score
of CIS-4.

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

TortoiseEcofin's ratings could be upgraded if: (1) meaningful
equity capital is raised or contributed to the company, improving
its liquidity profile; or (2) successful refinancing of the
company's term loan; or (3) net asset flows turn positive resulting
in meaningful organic growth that improves asset resiliency.

Conversely, factors that could lead to a further downgrade of
TortoiseEcofin's ratings include: (1) inability to refinance the
term loan or a related transaction that results in losses for
existing creditors; or (2) persistent client redemptions that erode
the company's franchise strength; or (3) financial leverage remains
elevated at levels consistent with Caa-rated issuers.

The principal methodology used in these ratings was Asset Managers
Methodology published in November 2019.


TRITON WATER: S&P Alters Outlook to Stable, Affirms 'B' ICR
-----------------------------------------------------------
S&P Global Ratings affirmed its 'B' issuer credit rating and
revised the outlook to stable from negative on U.S.-based Triton
Water Holdings Inc.

S&P said, "We also affirmed our 'B' issue-level rating on the
company's first-lien term loan with a recovery rating of '3',
indicating our expectation for meaningful recovery (50%-70%;
rounded estimate: 55%) in the event of a payment default.

"At the same time, we affirmed our 'CCC+' issue-level rating on the
company's senior unsecured notes with a recovery rating of '6',
indicating our expectation for negligible recovery (0%-10%; rounded
estimate: 0%) in the event of a payment default."

The stable outlook reflects our expectation for higher sales and
S&P Global Ratings-adjusted EBITDA such that fiscal 2023 leverage
declines to the mid-5x area.

The sizable price increases Triton took in 2022 led to substantial
revenue growth despite declining volumes over the last few
quarters. The company's operating performance has been buoyed by
the three rounds of price increases taken in 2022 that resulted in
double digit percentage revenue growth in fiscal 2022 and the first
quarter of 2023 despite persistent declines in unit volumes. In the
second quarter of 2023, revenue growth tempered to 3.7% amid 6%
volume declines and the lapping of one of three price increases
from the prior year. On shelf, the pricing gap compared with
private label has grown to levels the company considers to be too
high for the current demand environment. S&P said, "As a result, we
believe the prospects for further price increases have lessened,
and by the beginning of the fourth quarter, all of last year's
pricing will be lapped. We believe the volume picture will improve
modestly in the back half of the year, but not enough to fully
offset volume declines from the first half. On a long-term basis,
we believe revenue growth will temper to the low-single-digit area,
in line with historical U.S. bottled water category growth rates."

S&P said, "We believe the company will continue to take dollar
share in the U.S. bottled water category. Through the first half of
2023, category unit volumes for 12-liter case equivalents
contracted roughly two percentage points year-over-year, but Triton
was still able to gain dollar share during the period. In the
current retail environment, consumers are seeking out value
options. We believe PureLife, Triton's largest national brand, is
resonating with consumers as a relatively affordable product.
Substantially all of the company's regional spring water brands are
also priced at a discount to products such as Dasani and Aquafina.
We expect targeted marketing pushes, increased promotional
activity, and recent changes within the company's sales
organization will likely result in an inflection point back to
volume growth in the second half of 2023. Moreover, the company's
ReadyRefresh water delivery segment continues to be a growth
driver, albeit a much smaller portion of the overall business
compared to retail. The segment is growing volumes, and ancillary
metrics such as route optimization, driver retention, and customer
complaint rates are showing improvement after investment into the
division last year.

"Triton's operational efficiency improved after problems separating
from Nestle. A number of setbacks related to the implementation of
a new enterprise resource planning (ERP) system last year resulted
in service disruptions, and ultimately loss of shelf space for a
period of time. Moreover, a host of technology, restructuring, and
legal expenses were a major drag on profitability since the
separation with Nestle. These factors, along with the highly
inflationary commodity and logistics cost environment pressured
EBITDA performance and thus credit metrics. The improvement in
operating performance during 2023 implies these operational
headwinds have been resolved. We believe Triton's technology
investments are largely completed, and it is likely that the
company is now benefitting from optimizations derived from a fully
functioning ERP system, as evidenced by management's indication
that fill rates are back to 99%. Triton implemented improvements to
processes and made key hires in procurement, manufacturing, and
distribution. We believe these factors, along with price increases
and improvements in the cost environment, drove 890 bps of gross
margin expansion in the first half of 2023. With these
improvements, we believe Triton is better positioned to transition
to a volume growth model rather than solely relying on price
increases to grow sales.

"Absent any leveraging capital markets transaction for M&A or
shareholder distributions, we believe leverage will be
significantly lower than historical levels post leveraged buyout.
Given the recent margin expansion and roll-off of significant
one-time costs related to the separation from Nestle, we estimate
that S&P Global Ratings-adjusted EBITDA margin will expand 490 bps
in fiscal 2023. At these higher levels of EBITDA, we believe Triton
will deleverage to the mid-5x area by year end. We note that
historically aggressive financial policies driven by financial
sponsors One Rock Capital Partners and Metropoulos & Co. may
preclude Triton from operating at these lower levels of leverage
for an extended period of time. We do not forecast debt financed
mergers and acquisitions (M&A) or shareholder distributions, but
it's a risk in the near term.

"The stable outlook reflects our expectation for higher sales and
S&P Global Ratings-adjusted EBITDA such that fiscal 2023 leverage
declines to the mid-5x area."

S&P could lower its ratings if S&P Global Ratings-adjusted leverage
is sustained above 7.5x. This could happen if:

-- The company's financial policy becomes more aggressive, with
significant debt-financed shareholder distributions or
acquisitions;

-- There is increasing competition from private-label products or
premium-priced rivals, or the potential loss of major customers
results in lower demand for the company's products; or

-- Operational missteps lead to declines in service rates and
reduced shelf space at retail partners.

While unlikely over the next 12 months, S&P could take a positive
rating action if it believes financial policy will remain less
aggressive, including leverage sustained below 5.0x for the
foreseeable future. This could happen if:

-- The company does not transact material debt-financed
shareholder distributions or M&A;

-- Higher levels of profitability are sustained; and

-- The business continues to perform well, including satisfactory
demand for the company's products and generally stable profits.



UP RIGHT TRANSPORTATION: Ryan Richmond Named Subchapter V Trustee
-----------------------------------------------------------------
The Acting U.S. Trustee for Region 5 appointed Ryan Richmond as
Subchapter V trustee for Up Right Transportation, LLC.

Mr. Richmond will be paid an hourly fee of $375 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.  

Mr. Richmond declared that he is a disinterested person according
to Section 101(14) of the Bankruptcy Code.

The Subchapter V trustee can be reached at:

     Ryan J. Richmond
     450 Laurel Street, Suite 1450
     Baton Rouge, LA 70801
     Telephone: 225-412-3667
     Facsimile: 225-286-3046
     Email: ryan@snw.law

                   About Up Right Transportation

Up Right Transportation, LLC filed Chapter 11 petition (Bankr. E.D.
La. Case No. 23-11429) on Aug. 24, 2023, with $100,001 to $500,000
in assets and $500,001 to $1 million in liabilities.

Judge Meredith S. Grabill oversees the case.

Robin R. DeLeo, Esq., at De Leo Law Firm, LLC represents the Debtor
as bankruptcy counsel.


US RENAL CARE: $1.25BB Bank Debt Trades at 49% Discount
-------------------------------------------------------
Participations in a syndicated loan under which US Renal Care Inc
is a borrower were trading in the secondary market around 50.8
cents-on-the-dollar during the week ended Friday, September 8,
2023, according to Bloomberg's Evaluated Pricing service data.

The $1.25 billion facility is a Term loan that is scheduled to
mature on June 28, 2028.  The amount is fully drawn and
outstanding.

U.S. Renal Care is a dialysis provider available for people living
with chronic and acute renal disease.



US RENAL: Moody's Upgrades CFR to Caa1 & Alters Outlook to Stable
-----------------------------------------------------------------
Moody's Investors Service upgraded U.S. Renal Care, Inc's Corporate
Family Rating to Caa1 from Caa3 and the Probability of Default
Rating to Caa1-PD from Caa3-PD. Moody's also downgraded the rating
on the existing first lien debt to Ca from Caa3 and upgraded the
rating on the senior unsecured notes to Ca from C. At the same
time, Moody's assigned ratings to the new debt instruments
including the new first lien term loan at Caa1 and the new first
lien notes at Caa1. The outlook was changed to stable from
negative.

Concurrently with the downgrades, Moody's appended U.S. Renal's PDR
with an "/LD", signifying a limited default. The company recently
exchanged its first lien term loan for a new first lien term loan
and bought back some of its unsecured notes. The /LD designation
reflects Moody's view that this constitutes a distressed exchange,
which is a default under Moody's definition. Moody's definition of
default is intended to capture events whereby issuers fail to meet
debt service obligations outlined in their original debt
agreements. Moody's will remove the /LD designation from the PDR
shortly. These transactions do not constitute an event of default
under any of the company's debt agreements.

As part of the transaction, U.S. Renal exchanged its first lien
term loan and senior notes for a new senior secured first lien term
loan (due June 2028) and a new first lien notes (due 2028). Both
the super priority term loan and the new first lien debt benefit
from priority claims on a specific pool of assets, including 110
dialysis centers. At the same time, the company bought back some of
its senior notes. As a result of these transactions, U.S. Renal has
reduced outstanding debt by roughly $490 million and cash interest
expense by about $60 million per year.

The upgrade of the CFR reflects the material debt reduction from
the recently completed debt exchange which will also result in a
meaningful reduction in interest expense. However, Moody's does not
expect the company to generate positive free cash flow (after
minority dividends) until 2025. Following this transaction, Moody's
views U.S. Renal's capital structure as more sustainable.
Furthermore, earnings will benefit from a new supply contract
signed with Amgen with improved terms, and a current reduction in
labor cost inflation. Nonetheless, the US dialysis industry
continues to face headwinds from a protracted recovery in treatment
volumes that were adversely impacted by higher mortality rates
during the pandemic and ongoing wage inflation.

Governance considerations are material to the rating action
reflecting the recent distressed exchange and a high debt burden
despite the recent debt restructuring which has improved the
sustainability of U.S. Renal's capital structure.

Upgrades:

Issuer: U.S. Renal Care, Inc

Corporate Family Rating, Upgraded to Caa1 from Caa3

Probability of Default Rating, Upgraded to Caa1-PD/LD
  (LD appended) from Caa3-PD

Senior Unsecured Notes, Upgraded to Ca from C

Assignments:

Issuer: U.S. Renal Care, Inc

Backed Senior Secured 1st Lien Term Loan, Assigned Caa1

Backed Senior Secured 1st Lien Notes, Assigned Caa1

Downgrades:

Issuer: U.S. Renal Care, Inc

Backed Senior Secured 1st Lien Term Loan, Downgraded to Ca from
Caa3

Outlook Actions:

Issuer: U.S. Renal Care, Inc

Outlook, Changed To Stable From Negative

RATINGS RATIONALE

U.S. Renal's Caa1 Corporate Family Rating reflects very high
financial leverage and weak but improving operating performance.
Moody's expects that the company's leverage will remain very high
with debt/EBITDA above 7 times over the next 12 to 18 months. The
rating is also constrained by the company's modest scale relative
to other players in the sector. Moody's expects dialysis providers,
such as U.S. Renal, to face an increasing shift towards lower
reimbursed government programs and rising risk of legislative
efforts that will reduce industry profitability. There is a
significant differential in reimbursement for commercial patients
versus Medicare patients, and dialysis service providers rely on
commercial patients for the bulk of their profits. Moody's believes
this raises longer-term risk around payment rates and
profitability. U.S. Renal's credit profile is supported by stable
and recurring revenue reflecting the essential nature of dialysis
and adequate liquidity in the short term.

The stable outlook reflects Moody's expectation that U.S. Renal
will remain highly leveraged and while operating performance is
improving, the company will not be able to generate positive free
cash flow until 2025.

Moody's expects U.S. Renal's liquidity to be adequate. Liquidity is
supported by $270 million of cash as of August 2023 following the
recent debt issuance. While U.S. Renal will generate negative free
cash flow in 2023 and 2024, Moody's expect cash balances to largely
cover the shortfall and the company should not have to rely on
external sources of liquidity. Access to liquidity includes a $100
million first lien revolving credit facility (currently undrawn)
that matures in 2027. Furthermore, this facility has a net leverage
covenant set at 14.5x (if more than 35% drawn), with a decreasing
scale to 7.0x in 2027.

U.S. Renal's CIS-5 score indicates that the rating is materially
lower than it would have been if ESG exposures did not exist. The
company has significant exposure to governance risk considerations
(G-5) reflecting an aggressive financial policy, including an
appetite for very high leverage. Turning to social risk (S-4), U.S.
Renal Care's exposure stems from responsible production and
customer relations as a provider of dialysis services. The company
faces social risk exposures around reimbursement rates with a
significant disparity between the reimbursement it receives for
treating commercially insured patients and the amount it receives
for treating patients insured by Medicare. The company is also
exposed to both labor shortages and wage inflation given its large
workforce of both skilled and unskilled employees.

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

The ratings could be downgraded if U.S. Renal fails to improve its
operating performance and generate positive free cash flow by 2025.
The ratings could also be downgraded if liquidity weakens, and if
the capital structure becomes increasingly unsustainable.

The ratings could be upgraded if the company demonstrates sustained
earnings and cash flow growth, materially reduces leverage, and
improves liquidity. Quantitatively, the rating could be upgraded if
Moody's-adjusted debt/EBITDA is sustained below 7.5x.

U.S. Renal Care, Inc. provides dialysis services to patients who
suffer from chronic kidney failure. U.S. Renal Care, Inc provides
dialysis services through 376 outpatient facilities in 32 states
and the territory of Guam. It also provides acute dialysis services
through contractual relationships with hospitals and home dialysis
services. Revenues are approximately $1.3 billion. U.S. Renal Care,
Inc is owned by private equity firms Bain Capital, Summit Partners,
and Revelstoke Capital Partners, along with other investors and
management.

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


VALCOUR PACKAGING: $160MM Bank Debt Trades at 43% Discount
----------------------------------------------------------
Participations in a syndicated loan under which Valcour Packaging
LLC is a borrower were trading in the secondary market around 57.2
cents-on-the-dollar during the week ended Friday, September 8,
2023, according to Bloomberg's Evaluated Pricing service data.

The $160 million facility is a Term loan that is scheduled to
mature on September 30, 2029.  The amount is fully drawn and
outstanding.

Valcour Packaging LLC, doing business as Mold-Rite Plastics,
provides high-quality plastic packaging components.



VALCOUR PACKAGING: $420MM Bank Debt Trades at 20% Discount
----------------------------------------------------------
Participations in a syndicated loan under which Valcour Packaging
LLC is a borrower were trading in the secondary market around 80.3
cents-on-the-dollar during the week ended Friday, September 8,
2023, according to Bloomberg's Evaluated Pricing service data.

The $420 million facility is a Term loan that is scheduled to
mature on September 30, 2028.  The amount is fully drawn and
outstanding.

Valcour Packaging LLC, doing business as Mold-Rite Plastics,
provides high-quality plastic packaging components.



VECTRA CO: $425MM Bank Debt Trades at 1% Discount
-------------------------------------------------
Participations in a syndicated loan under which Vectra Co is a
borrower were trading in the secondary market around 99.0
cents-on-the-dollar during the week ended Friday, September 8,
2023, according to Bloomberg's Evaluated Pricing service data.

The $425 million facility is a Term loan that is scheduled to
mature on March 9, 2025.  About $402.7 million of the loan is
withdrawn and outstanding.

Vectra Co. operates as a technology-driven diversified industrial
company serving automotive systems, aerospace, industrial and
renewable energy.



VERITAS HOLDINGS: S&P Affirms 'B-' ICR, Outlook Negative
--------------------------------------------------------
S&P Global Ratings affirmed all its ratings including its 'B-'
issuer rating on U.S.-based enterprise information management
software provider Veritas Holdings Ltd. (and debt issuer subsidiary
Veritas NL Intermediate Holdings B.V.).

The negative outlook reflects our expectation for an FOCF deficit
of about $165 million in fiscal 2024 and elevated adjusted debt to
EBITDA above 9x while the company transitions its subscription
revenue model in a difficult business environment.

Veritas is pursuing a multiyear subscription model transition that
S&P's expect will continue pressuring earnings and free cash flow
deficits. The company is about 18 months into its approximate
three-year transition. About 8% growth year over year in annual
recurring revenues (ARR) for the 12 months ended June 30, 2023, and
increased subscription base (37% of total ARR compared to about 18%
last year) indicates progress over the past couple of quarters.
While performance has gained some traction, S&P expects the
inherent headwinds from up-front license sale declines, the timing
of billings, and cash collections over the contract term will lead
to an FOCF deficit of $165 million in fiscal 2024 compared to a
$119 million deficit in fiscal 2023. Additionally, the company's
ongoing expense restructuring, increased investments to support
product development in areas such as cloud, and sales and marketing
efforts will constrain profits. S&P expects S&P Global
Ratings-adjusted EBITDA margin of about 25% in fiscal 2024 compared
to 38% prior to the revenue model transition. As a result, credit
metrics will remain weak with adjusted debt to EBITDA elevated at
above 9x and interest coverage of about 1.3x. While the adverse
effects of the transition are temporary and will likely abate as
Veritas makes further progress over the next year or two,
uncertainties related to such moves, as well as macroeconomic
headwinds and increased downside risk to information technology
spending, could make it challenging to achieve operation targets
and improve credit metrics.

S&P said, "We expect Veritas' adequate liquidity position will
provide credit support over the next 12 months, but significant
debt maturities constrain the rating. The company has sufficient
liquidity, supported by cash on hand of $461 million and about $64
million of revolver capacity (limited by covenant thresholds) as of
June 30. While it does not face imminent refinancing risk with no
material debt maturities in calendar years 2023 and 2024 and
manageable term loan amortization payments of about $25 million in
each of next two years, about $4.2 billion of debt becomes due in
September 2025 to present a significant debt maturity wall. The
$183 million revolver expires in March 2025. Business deterioration
or execution challenges will likely increase refinancing
uncertainties.

"We recognize that subscription model transitions are challenging
to predict, but we expect the company may consistently improve
revenue, EBITDA, and FOCF by late 2024 because of revenue tailwinds
from longer term license contracts (more up-front revenue
recognition) and abating working capital headwinds. However, we
expect less EBITDA than prior to the transition. While continued
progress may provide more assurance and improve refinancing
prospects, the timing and strength of the EBITDA and FOCF recovery
are important to supporting significant debt and partially
offsetting rising interest expense upon a refinancing over the next
1-2 years.

"Veritas operates in a highly fragmented and competitive market. We
believe Veritas is recognized as one of the leading vendors
(according to Gartner and IDC Corp.) in mature on-premises
enterprise data protection, recovery software and appliance
markets. The company competes with larger enterprise-focused legacy
players such as Dell Technologies/EMC and IBM. Although data
protection is imperative for enterprises amid rising data center
security concerns, the competitive landscape continues to intensify
due to an influx of newer cloud native software entrants over the
past several years. We believe cloud-native software-as-a-service
providers continue to gain market share, while mature legacy
providers have not shifted meaningfully over the past few years.
While Veritas' revenue model transition may be more manageable
given competitive advantages from its enterprise
infrastructure-focused offerings, long-standing enterprise customer
base, and high switching costs, we expect the company will continue
to face strong competition.

"We expect on-premises spending may continue to shift to faster
growing cloud investments over time, which represents about 20% of
deployments according to IDC. We believe enterprises continue to
balance cloud and on-premises investments, prioritizing data
security, which will likely benefit players such as Veritas to some
extent. However, we expect the company may continue to make
significant investments in cloud product development, where it does
not have meaningful presence. Cloud offers better prospects to
support sustainable growth over time at the risk of constraining
profitability improvements.

"We expect Veritas' liquidity to be adequate over the next 12
months, but headwinds from its subscription revenue model
transition will worsen credit metrics, including negative FOCF of
about $165 million in fiscal 2024. While continued progress in its
subscription transition will likely improve refinancing prospects,
we view EBITDA recovery and sustained margin profile over the next
couple of years as uncertain."

S&P could lower the rating if:

-- The company underperforms our base-case expectations, including
slower-than-expected progress in its subscription strategy or
greater business volatility such that FOCF is weaker than we
forecast, and we believe it has reduced flexibility to withstand
unforeseen operational challenges during its subscription
transition;

-- S&P does not believe Veritas will likely refinance its 2025
debt maturities at favorable terms such that we deem its capital
structure unsustainable, which would be indicated by weak interest
coverage or minimal cash flow after debt service; or

-- The company pursues a debt transaction that we view as a
distressed exchange.

S&P could revise the outlook to stable if:

-- The company consistently increases subscription and ARR over
the next 12 months while maintaining adequate liquidity;

-- S&P believes earnings and cash flow will recover such that S&P
Global Ratings-adjusted leverage is on a path to 8x and FOCF
expectations will be consistently positive by the end of fiscal
2024; or

-- S&P believes these improvements would enable Veritas to service
its debt burden following a refinancing.



VINTAGE FOOD: Unsecureds Owed $445K to Get 10% Under Plan
---------------------------------------------------------
Vintage Food Services, Inc., submitted a Second Amended Plan of
Reorganization.

This Plan of Reorganization proposes to pay the Debtor's creditors
from the revenue generated by the Debtor's continued operations,
and the identification and resolution of any Chapter 5 causes of
action and ultimate sale of the Debtor's assets and the ADJ and ALJ
real estate. The Plan provides for the distribution to creditors of
the Debtor's disposable income over a period of 5 years.

The Plan provides for full payment of administrative expenses and
the secured claims of Huntington Bank, the SBA, CAN Capital and
Financial Pacific. The Debtor's unsecured creditors, including the
Debtor's trade creditors shall receive a distribution of 10% over
the term of the Plan. The Debtor's Insider and equity security
holder will receive no recovery under this Plan but shall retain
his equity interest.

Under the Plan, Class VI consists of the allowed General Unsecured
Claims of Creditors of the Debtor, other than the claims of the
Debtor's insiders, to the extent such exist, including the Debtor's
trade creditors. On the Petition Date, Debtor's general unsecured
claims owed to trade creditors total approximately $143,535.62. In
addition, the Department of Treasury has a Class V unsecured claim
for the unsecured penalties associated with the priority sales tax
claims in the approximate amount of $301,653.00.

The Debtor shall pay the allowed general unsecured claims a pro
rata 10% distribution in 19 equal quarterly distributions beginning
on the last business day of the first full calendar quarter after
the confirmation date and continuing on the last business day of
each consecutive calendar quarter until paid in full. Class VI is
impaired.

This Plan will be funded through the capital contribution to be
made by Jekielek, the operation of the Debtor's business and from
the proceeds of the Debtor's post-petition booked events. The
balloon payment due to Huntington shall be paid from refinancing
the Debtor's business operations and the Related Real Estate. If
all Classes of Impaired Creditors vote to accept the Plan, the
Debtor shall fund the obligations of the Plan pursuant to its
terms. If a Class of Impaired Creditors does not vote to accept the
Plan, the Debtor reserves the right to amend the Plan.

Attorneys for the Debtor:

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

A copy of the Second Amended Plan of Reorganization dated August
25, 2023, is available at https://tinyurl.ph/PcBwd from
PacerMonitor.com.

                 About Vintage Food Services

Based in Fraser, Mich., Vintage Food Services, doing business as
Vintage House, offers a complete suite of catering services for
weddings, showers, corporate events, fundraisers, reunions, funeral
luncheons, sports banquets, and bar/bat mitzvahz.

Vintage Food Services sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. E.D. Mich. Case No. 22-48073) on Oct.
16, 2022, with between $500,000 and $1 million in assets and
between $1 million and $10 million in liabilities. Anthony
Jekielek, president of Vintage Food Services, signed the petition.

Judge Thomas J. Tucker oversees the case.

Lynn M. Brimer, Esq., at Strobl Sharp, PLLC, serves as Vintage Food
Services' legal counsel.

Huntington Bank, secured creditor of Vintage Food Services, is
represented by Lisa A. Hall, Esq., at Plunkett Cooney.


WATAUGA FAMILY: Behrooz Vida Named Subchapter V Trustee
-------------------------------------------------------
The U.S. Trustee for Region 6 appointed Behrooz Vida, Esq., at the
Vida Law Firm, PLLC as Subchapter V trustee for Watauga Family
Dentistry, PLLC.

Mr. Vida 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. Vida declared that he is a disinterested person according to
Section 101(14) of the Bankruptcy Code.

The Subchapter V trustee can be reached at:

     Behrooz P. Vida, Esq.
     The Vida Law Firm, PLLC
     3000 Central Drive
     Bedford, TX 76021
     817-358-9977-office
     817-358-9988-fax
     Email: behrooz@vidalawfirm.com

                  About Watauga Family Dentistry

Watauga Family Dentistry, PLLC filed Chapter 11 petition (Bankr.
N.D. Texas Case No. 23-42515) on Aug. 28, 2023, with up to $500,000
in assets and up to $1 million in liabilities. William Oliver,
director, signed the petition.

Judge Edward L. Morris oversees the case.

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


WATERBRIDGE MIDSTREAM: Fitch Affirms B LongTerm IDR, Outlook Stable
-------------------------------------------------------------------
Fitch Ratings has affirmed WaterBridge Midstream Operating LLC's
(WATOPE) Long-Term Issuer Default Rating (IDR) at 'B'. The Rating
Outlook is Stable. Fitch has also affirmed WATOPE's senior secured
term loan B rating at 'B+'/'RR3', which includes the proposed
fungible incremental term loan B.

WATOPE will use the proceeds from the incremental term loan B,
currently expected to be around $150 million, to fund the
redemption of the Series A-1 Conoco preferred equity. The full
redemption of the Series A-1 preferred shares will resolve the
provision that could be exercised in mid-2025 removing that
medium-term liquidity constraint.

The ratings reflect WATOPE's strong performance in 2022 continuing
into 1H23 benefitting from continued strong producer activity on
WATOPE's acreage, and Fitch's expectation for steady volume
performance in line with Fitch's price deck. Concerns include the
company's small size and concentration within the Delaware Basin.

KEY RATING DRIVERS

Improved Leverage and Coverage Metrics: In terms of leverage the
incremental term loan is neutral as Fitch views these preferred
shares as 100% debt. WATOPE's performance through 2Q23 has
benefited from continued steady producer activity on the company's
dedicated acreage in the Southern Delaware Basin and from the
execution of new commercial agreements.

Fitch calculates WATOPE's LTM 2Q23 imputed EBITDA leverage
(inclusive of the preferred equity in the capital structure) is
approximately 6.5x as WATOPE continues to generate positive FCF.
Fitch anticipates WATOPE's Delaware producer customers will
continue their drilling programs near current levels over the
near-to-medium term, supporting continued deleveraging into the low
6x range by YE 2023.

Interest rates have continued to rise in 2023, but EBITDA interest
coverage has remained solid. Fitch calculates WATOPE's LTM 2Q23
EBITDA interest coverage to be approximately 2.3x. WATOPE does not
have interest rate hedges and is exposed to rising variable rates.
By YE 2023, EBITDA interest coverage is expected to continue to
decline closer to 2.0x if WATOPE does not use it's FCF to prepay a
portion of the term loan in an amount above the 1% required
amortization.

Several Liquidity Issues Resolved: The repayment of the Series A-1
Preferred Units will remove the medium-term liquidity constraint
posed by the put right provision which the owner could exercise in
mid-2025. Management has a record of pro-actively resolving
liquidity constrains following the amendment made in 2Q23 to extend
the revolving credit facility expiration by one year to June 2025.
Fitch notes the revolver size was reduced earlier this year to $85
million, but does not anticipate the smaller revolver to be
restrictive to WATOPE's regular working capital or capex budget.

Volumetric Risk: WATOPE is benefitting from the steady production
growth in the Delaware basin which has continued through 1H23 and
Fitch expects to continue in 2H23. While fixed-fee contracts
provide protection from direct commodity price exposure, volumes
have indirect price risk in the event drilling on WATOPE's
dedicated acreage becomes uneconomic and customers decide to move
rigs elsewhere.

Producer activity in the Delaware basin is primarily driven by the
price of WTI oil prices. Production in the Arkoma basin is driven
by natural gas prices which have fallen more sharply than WTI oil
prices, leading to the shut-in of 50 wells in the basin in 2Q23.
The majority of WATOPE's volumes and revenues are generated in the
Delaware basin with a smaller contribution from the Arkoma by
comparison.

WATOPE does not have a material amount of minimum volume
commitments (MVCs) that would protect cash flows in a case where
production moves off of WATOPE's acreage dedications. Fitch expects
the southern Delaware basin volume growth to remain robust through
2023, yet as recent history has shown us in 2020, producers can
quickly slow or stop production and WATOPE's volumes will be
impacted with little protection.

Expanding Delaware Basin Commercial Agreements: Despite the decline
of hydrocarbon pricing from robust 2022 levels, producers have
continued drilling plans in the Delaware basin. Through 1H23 WATOPE
was active in adding new and expanding existing commercial
agreements with producers in the Delaware basin including
Continental Resources Inc. (BBB/Stable). Most of the other recently
signed new agreements are with private equity owned exploration and
production companies not rated by Fitch. In addition to signing new
customers, WATOPE is in ongoing discussions to consolidate and
expand Chevron Corporation's (not rated) dedicated acreage in the
southern Delaware basin following recent M&A.

Customer Concentration: WATOPE has acreage dedications with several
large investment grade customers and is modestly diversified
compared to pure-play gathering peers. The company is exposed to
customer concentration as its three largest customers accounted for
approximately 48% of revenues in 2022. M&A activity has remained
active over the past few years which is an overall positive for
WATOPE's counterparty credit profile. Nearly all of WATOPE's
producer contracts are fixed fee with CPI escalators, an exception
being Trinity Operating (USG) LLC, (Trinity; NR but a subsidiary of
Nextra Energy, Inc. [A-/Stable]). WATOPE and Trinity have made
adjustments from time to time to seek win-win outcomes.

Limited Scale & Size: WATOPE is a water midstream/solutions
provider that operates predominantly in the southern Delaware
region of the Permian basin, with a small percentage of operations
in the Arkoma basin in Oklahoma. Given the predominant single basin
focus and lack of business line diversity, WATOPE possesses
outsized sensitivity to a slow-down in Delaware basin production as
materialized in 2020. Fitch expects WATOPE to generate annual
EBITDA less than $300 million over the forecast consistent with
issuers below the 'BB-' rating category.

DERIVATION SUMMARY

WATOPE is somewhat unique in the midstream sector in that it is a
pure play water solutions business. In terms of customer
concentration WATOPE has good diversification with a mix of
investment-grade and non-investment-grade producers. Fitch
acknowledges WATOPE has some basin diversity with operations in the
Arkoma basin in Oklahoma, but the majority of EBITDA is generated
from its operations in the Southern Delaware Basin.

Geographically similar to WATOPE, Medallion Midland Acquisition,
L.P (B+/Stable) is a Permian Basin focused midstream services
company. Medallion's operations focus on crude oil gathering and
transportation within Texas which differ from WATOPE's produced
water disposal activities. Like WATOPE, Medallion is also subject
to volumetric risk, although Medallion does not have any direct
commodity price exposure and has some MVCs. WATOPE also has some
exposure related to the sale of skim oil which has comparatively
higher direct commodity price exposure. Fitch regards WATOPE as
having higher business risk compared to Medallion.

Within the Permian basin Medallion operates in Midland sub-basin.
WATOPE only has operations in the Delaware basin with some
diversity to the Arkoma basin in Oklahoma. Fitch takes a more
constructive view on long-term volumes in the Midland than in
Oklahoma. Like WATOPE Medallion's ratings are limited by its
relatively small size with EBITDA generation below $300 million and
customer diversification is modest.

The driving force in one-notch the rating differences between the
two companies is the difference in financial metrics. Fitch expects
Medallion to achieve its leverage at or below 4.0x in 2023
comparing favorably to WATOPE's significantly higher leverage
profile.

KEY ASSUMPTIONS

Fitch's Key Assumptions Within Its Rating Case for the Issuer

- Fitch price deck, e.g., 2024 prices of West Texas Intermediate of
$70 per barrel, and Henry Hub of $3.50 per thousand cubic feet;

- Delaware produced water annual volume growth in the mid 20% range
for 2023, then tapering off in latter forecast years;

- Capex spending in line with management's expectations;

- Base interest rate applicable to the revolving credit facility
and term loan reflects the Fitch Global Economic Outlook, e.g.,
5.75% for 2023, 4.25% for 2024, and 3.25% for 2025 e.g.;

- Excess FCF used to pay down outstanding revolver borrowings in
2023 and partial term loan repayment beginning in 2024;

- The recovery analysis uses assumptions that cause WaterBridge to
be considered a going-concern in bankruptcy. Fitch has assumed a
10% administrative claim (standard). The going-concern EBITDA
estimate of around $135 million, reflects Fitch's view of a
sustainable, post-reorganization EBITDA level upon which Fitch
bases the valuation of the company. As per criteria, the going
concern EBITDA reflects some residual portion of the distress that
caused the default;

- Fitch used a 6.0x EBITDA multiple is in line with reorganization
multiples for the energy sector. There have been limited bankruptcy
and reorganizations within the midstream space but two
bankruptcies, Azure Midstream and Southcross Holdings LP (2016) had
multiples between 5.0x and 7.0x, ascertained by Fitch's best
efforts attempts at devising estimates.

More recently, yet away from the midstream sub-sector of Energy, in
its recent Bankruptcy Case Study Report, "Energy, Power and
Commodities Bankruptcies Enterprise Value and Creditor Recoveries"
published in September 2022, the median enterprise valuation exit
multiplies for 51 energy cases for which this data was available
was 5.3x, with a wide range of multiples observed.

RATING SENSITIVITIES

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

- EBITDA leverage expected to be below 6.0x on a sustained basis;

- Improved circumstances concerning liquidity.

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

- Lack of pro-active management of liquidity, including but not
limited extension/repayment of revolver set to mature in 2025 and
plan to address preferred equity put-right provision six months to
a year prior to June 2025;

- EBITDA leverage expected to be above 7.0x on a sustained basis;

- EBITDA interest coverage below 2.0x on a sustained basis;

- Volume declines (trailing quarterly) in WATOPE's Delaware basin
system, except if caused by one-off events;

- A significant event at a major customer that will probably impair
WATOPE's cash flow.

LIQUIDITY AND DEBT STRUCTURE

Adequate Liquidity: Fitch views WATOPE's liquidity as sufficient
post the repayment of the series A-1 preferred units. As of June
30, 2023, WATOPE had approximately $101 million of liquidity
consisting of available revolver borrowings and cash and cash
equivalents. The company has a super-senior revolving credit
facility, which was downsized to $85 million from $100 million in
1Q23, which is currently has approximately $10 million of
outstanding borrowings.

In June 2023, WATOPE successfully extended the revolver maturity to
June 2025. The revolving credit facility has a springing net
leverage covenant of 5.0x with any incremental draw above $45
million. As the net leverage covenant was below 5.0x at quarter
end, WATOPE's revolver borrowings are no longer limited to $45
million.

The term loan has a maturity date of June 2026 and requires a
standard mandatory amortization of 1% of original loan amount per
annum and compliance with a debt service coverage ratio covenant
threshold of 1.1x. The company was in compliance with its financial
covenants as of June 30, 2023. Fitch expects WATOPE to maintain
compliance with its covenants through the forecast period.

ISSUER PROFILE

WaterBridge Midstream Operating, LLC provides water services to oil
& gas producers in Texas and Oklahoma.

SUMMARY OF FINANCIAL ADJUSTMENTS

Owing to the change of control provision in the preferred units,
among other terms that tip the judgment the same way, the preferred
units receive zero equity credit (i.e., are treated like debt for
purposes of calculating leverage). WATOPE is deemed to have as
imputed debt-like instruments two series of preferred units. As to
calculations of coverage metrics, PIK distributions and future
value claims for deferred coupons are excluded.

ESG CONSIDERATIONS

WaterBridge Midstream Operating LLC has an ESG Relevance Score of
'4' for Group Structure due to elated party transactions with
affiliate companies, which has a negative impact on the credit
profile, and is relevant to the rating[s] in conjunction with other
factors.

WaterBridge Midstream Operating LLC has an ESG Relevance Score of
'4' for Financial Transparency due to private equity ownership
resulting in less structural and financial disclosure transparency
than publicly traded issuers, which has a negative impact on the
credit profile, and is relevant to the rating[s] in conjunction
with other factors.

The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit-neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.

   Entity/Debt             Rating        Recovery   Prior
   -----------             ------        --------   -----
WaterBridge
Midstream
Operating LLC        LT IDR B  Affirmed               B

   senior secured    LT     B+ Affirmed     RR3       B+


WAVERLY MANSION: Hires Long & Foster Real Estate as Broker
----------------------------------------------------------
Waverly Mansion, LLC  seeks approval from the U.S. Bankruptcy Court
for the Eastern District of Virginia to hire Long & Foster Real
Estate, Inc. as its real estate broker.

The firm will advise the Debtor with respect to the marketing and
sale of the its commercial real estate located at 604 S. King St.,
Leesburg, VA 20175.

The broker's compensation is 5 percent of the gross price for a
sale of the property and 6 percent of the gross price for a lease
of any units.

Matthew Garcia, agent with Long & Foster Real Estate, assured the
court that his firm is a disinterested person within the meaning of
11 U.S.C. Sec. 327.

The broker can be reached through:

     Matthew Garcia
     Long & Foster Real Estate, Inc.
     8150 Leesburg Pike, Suite 620
     Vienna, VA 22182
     Phone: 703-506-2850
     Email: Matthew.Garcia@LongandFoster.com

               About Waverly Mansion

Waverly Mansion is a Single Asset Real Estate (as defined in 11
U.S.C. Section 101(51B)).

Waverly Mansion LLC filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. E.D. Va. Case No.
23-11251) on August 2, 2023. The petition was signed by Charles T.
Matheson as manager. At the time of filing, the Debtor estimated $1
million to $10 million on both assets and liabilities.

Steven B. Ramsdel, Esq. at Tyler, Bartl & Ramsdell, P.L.C.
represents the Debtor as counsel.


WELCOME GROUP: Files Emergency Bid to Use Cash Collateral
---------------------------------------------------------
Welcome Group 2, LLC and affiliates ask the U.S. Bankruptcy Court
for the Southern District of Ohio, Eastern Division, at Columbus,
for authority to use cash collateral and provide adequate
protection RSS WFCM2019-C50-OH WG2, LLC c/o Rialto Capital
Advisors, LLC.

The Debtors require the use of cash collateral to fund ongoing
profitable operations, to preserve the going concern value of the
Debtors, and to pay necessary administrative expenses of these
cases and United States Trustee Fees.

On April 9, 2019, the Debtors executed and delivered to Secured
Lender a Loan Agreement.

On April 9, 2019, the Debtors executed and delivered to Secured
Lender a Promissory Note in the original principal sum of $21.3
million.

Pursuant to Schedule 1A of the Loan Agreement, $2.475 million of
the original principal sum of the Note was allocated to Welcome
Group 2, LLC (Super 8 Zanesville), $7.8 million to Hilliard Hotels,
LLC (Hampton Inn), and $3.750 million to Dayton Hotels, LLC (Hotel
at Dayton South). In addition, $2.7 million and $4.575 million of
the original principal sum of the Note was allocated to two
additional non-debtor hotels, Elite Hospitality, LLC (Quality Inn
and Suites) and Dayton Hotels 2, LLC (Best Western Plus Englewood),
respectively.

Secured Lender filed a Complaint in the Montgomery County Common
Pleas Court against Debtors on December 28 2021, Case No. 2021 CV
05237, alleging Debtors had defaulted under the terms of the Loan
Agreement. Ultimately, the appointment of a Receiver was approved
by the Montgomery County Common Pleas Court. The Receiver took over
operational control of all three Debtor hotels and two non-debtor
affiliated hotels on August 8, 2023, almost immediately shutting
down the non-debtor affiliate hotels Quality Inn and Suites in
Obetz, Ohio and Best Western Plus in Englewood, Ohio.

The Secured Lender asserts, as security for compliance with the
terms of the Loan Agreement and Note, it properly perfected its
security interest in certain collateral owned by Hilliard Hotels,
LLC by recording (1) a mortgage recorded on April 15, 2019 with the
Shelby County, Ohio Recorder, instrument number 201900001739, (2)
an assignment of rents recorded on April 15, 2019 with the Shelby
County, Ohio Recorder, instrument number 201900003046, and (3) by
filing a UCC-1 Financing Statement on April 11, 2019 with the Ohio
Secretary of State, Initial Filing Number OH00229716850.

Secured Lender asserts through the State Court Litigation that it
holds a first priority properly perfected security interest in all
real and personal property of Hilliard Hotels, LLC based on the
Hilliard Mortgage, Hilliard Assignment of Rents, and Hilliard
Financing Statement.
Secured Lender asserts that the Hilliard Collateral includes but is
not limited to the real estate located at 1600 Hampton Court,
Sidney, OH 45365 which is valued at $10.8 million.

On August 19, 2020, Debtor Hilliard Hotels, LLC executed and
delivered to the U.S. Small Business Administration a Loan
Authorization and agreement, promissory note, and security
agreement, in the original principal sum of $150,000, which were
subsequently amended on January 18, 2022 in the original amended
principal sum $2 million. The SBA asserts, as security for
compliance with the terms of the Hilliard SBA Note, it properly
perfected its security interest in certain collateral owned by
Hilliard Hotels, LLC by filing a UCC-1 Financing Statement on
August 30, 2020 with the Ohio Secretary of State, Initial Filing
Number OH00245926754.

Itria Ventures, LLC may claim a secured interest in the Hilliard
Collateral pursuant to a UCC filed with the Ohio Secretary of
State, Filing Number OH00238253708. However, the Debtor asserts
that any purported security interest of Itria Ventures, LLC in the
Hilliard Collateral is disputed and is wholly unsecured.

On June 3, 2020, Debtor Dayton Hotels, LLC executed and delivered
to the SBA a Loan Authorization and Agreement, promissory note, and
security agreement, in the original principal sum of $150,000. The
SBA asserts, as security for compliance with the terms of the
Dayton Hotels SBA Note, it properly perfected its security interest
in certain collateral owned by Dayton Hotels, LLC by filing a UCC-1
Financing Statement on June 12, 2020 with the Ohio Secretary of
State, Initial Filing Number OH00241571888.

Itria Ventures, LLC may claim a secured interest in the Dayton
South Collateral pursuant to a UCC filed with the Ohio Secretary of
State, Filing Number OH00238253697. However, Debtor asserts that
any purported security interest of Itria Ventures, LLC in the
Dayton South Collateral is disputed and is wholly unsecured.

U.S. Foods, Inc. may claim a secured interest in the Dayton South
Collateral pursuant to its filing of a UCC-1 Financing Statement on
August 25, 2020 with the Ohio Secretary of State, Initial Filing
Number OH00245783437.

The Secured Lender asserts, as security for compliance with the
terms of the Loan  Agreement and Note, it properly perfected its
security interest in certain collateral owned by Welcome Group 2,
LLC by recording (1) a mortgage recorded on April 19, 2019 with the
Muskingum County, Ohio Recorder, instrument Number 201900003418,
Book 2843, Page 863, (2) an assignment of rents recorded on April
19, 2019 with the Muskingum County, Ohio Recorder, instrument
number 201900003419, Book 2843, Page 895, and (3) by filing a UCC-1
Financing Statement on April 11, 2019 with the Ohio Secretary of
State, Initial Filing Number OH00229716850.

Secured Lender asserts through the State Court Litigation that it
holds a first priority properly perfected security interest in all
real and personal property of Welcome Group 2, LLC based on the
Welcome Mortgage, Welcome Assignment of Rents, and Welcome
Financing Statement.
Secured Lender asserts that the Welcome Collateral includes but is
not limited to the real estate located at 2440 National Road,
Zanesville, Ohio 43701 which is valued at $3.5 million.

Itria Ventures, LLC may claim a secured interest in the Welcome
Collateral pursuant to a UCC filed with the Ohio Secretary of
State, Filing Numbers OH00235121483 and OH00238251502. However,
Debtor asserts that any purported security interest of Itria
Ventures, LLC in the Welcome Collateral is disputed and is wholly
unsecured.

U.S. Foods, Inc. may claim a secured interest in the Welcome
Collateral pursuant to its filing of a UCC-1 Financing Statement on
August 25, 2020 with the Ohio Secretary of State, Initial Filing
Number OH00245783760.

The Debtors believe Secured Lender is likely oversecured and the
value of their collateral will be increased by the maintenance of
the going concern value of the Debtors. As adequate protection,
Secured Lender will receive periodic payments as set forth in the
Budget. The Debtors will be making scheduled payments to U.S. Small
Business Administration.

A copy of the motion is available at https://urlcurt.com/u?l=vJKO6F
from PacerMonitor.com.

                     About Dayton Hotels, LLC

Dayton Hotels, LLC sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S. D. Ohio Case No. 23-53044) on September
1, 2023. In the petition signed by Abhijit Vasani, as president,
InnVite Opco, Inc., sole member, the Debtor disclosed up to $10
million in both assets and liabilities.

Denis E. Blasius, Esq., at  Thomsen Law Group, LLC, represents the
Debtor as legal counsel.


WESTERN GLOBAL: Hires Weil Gotshal & Manges LLP as Counsel
----------------------------------------------------------
Western Global Airlines, Inc. and its affiliates seek approval from
the U.S. Bankruptcy Court for the District of Delaware to employ
Weil Gotshal & Manges LLP as counsel.

The firm will provide these services:

   a. take all necessary actions to protect and preserve the
Debtors' estates, including the prosecution of actions on the
Debtors' behalf, the defense of any actions commenced against the
Debtors, the negotiation of disputes in which the Debtors are
involved, and the preparation of objections to claims filed against
the Debtors' estates;

   b. prepare on behalf of the Debtors, as debtors in possession,
all necessary motions, applications, answers, orders, reports, and
other papers in connection with the administration of the Debtors'
estates;

   c. take all necessary actions in connection with the Debtors'
postpetition restructuring process, any chapter 11 plan and related
disclosure statement, and all related documents, and such further
actions as may be required in connection with the administration of
the Debtors' estates;

   d. take all necessary actions to protect and preserve the value
of the Debtors' estates; and

   e. perform all other necessary legal services in connection with
the prosecution of these chapter 11 cases; provided, however, that
to the extent Weil determines that such services fall outside the
scope of services historically or generally performed by Weil as
lead debtor's counsel in a bankruptcy case, Weil will file a
supplemental declaration.

The firm will be paid at these rates:

     Partners            $1,375 to $2,095 per hour
     Associates          $750 to $1,345 per hour
     Paraprofessionals   $295 to $530 per hour

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

As of the Petition Date, the firm held an advance payment retainer
of $292,857.76, subject to any amounts the firm intends to apply
against the retainer.

In accordance with Appendix B-Guidelines for Reviewing Applications
for Compensation and Reimbursement of Expenses Filed under 11
U.S.C. Sec. 330 for Attorneys in Larger Chapter 11 Cases, the
following is provided in response to the request for additional
information:

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

   Response:  No.

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

   Response:  No.

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

   Response:  The firm was formally engaged by the Debtors in
              December 2022. The firm's customary hourly rates,
              subject to change from time to time, were $1,250
              to $1,950 for partners and counsel, $690 to
              $1,200 for associates and $275 to $495 for
              paraprofessionals. On January 1, 2023, the firm
              adjusted its billing rates.

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

   Response:  The firm is developing a prospective budget and
              staffing plan for these chapter 11 cases. The firm
              and the Debtors will review such budget following
              the close of the budget period to determine a
              budget for the following period.

Candace M. Arthur, Esq., a partner at Weil, Gotshal & Manges 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:

     Candace M. Arthur, Esq.
     Weil, Gotshal & Manges LLP
     767 Fifth Avenue
     New York, NY 10153
     Tel: (212) 310-8000
     Email: candace.arthur@weil.com

              About Western Global Airlines, Inc.

Western Global Airlines, Inc. provides contracted air cargo
transportation services ranging from ACMI (Aircraft, Crew,
Maintenance, and Insurance) to Full Service, on a global scale. WGA
is a high-tech air cargo platform serving customers in e-commerce,
express, freight forwarding, logistics, nonprofit, and governmental
organizations.

The Debtor and affiliates sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 23-11093) on
August 7, 2023. In the petition signed by James K. Neff, chief
executive officer, the Debtor disclosed up to $500 million in
assets and up to $1 billion in liabilities.

Judge Karen B. Owens oversees the case.

The Debtors tapped Weil, Gotshal & Manges LLP as general bankruptcy
counsel, Richards, Layton & Finger, P.A. as local bankruptcy
counsel, Evercore Group L.L.C. as investment banker, FTI
Consulting, Inc. as provider of interim management and financial
advisory services. and Stretto, Inc. as claims, noticing, and
solicitation agent.

DKB Partners LLC, as DIP Lender and Prepetition Lender, is
represented by Young Conaway Stargatt & Taylor, LLP.

The Ad Hoc Group of DIP Lenders and Certain Creditors are
represented by Paul, Weiss, Rifkind, Wharton & Garrison, LLP and
Landis Rath & Cobb, LLP.


WESTLAKE SURGICAL: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Westlake Surgical, L.P.
           d/b/a The Hospital at Westlake Medical Center
        5656 Bee Caves Road
        Austin TX 78746

Business Description: The Hospital at Westlake Medical Center not
                      only provides traditional hospital care but
                      also offers services ranging from high-tech
                      diagnostic procedures to inpatient physical
                      therapy and urgent care for emergencies
                      related to trauma or illness.

Chapter 11 Petition Date: September 8, 2023

Court: United States Bankruptcy Court
       Western District of Texas

Case No.: 23-10747

Judge: Hon. Shad Robinson

Debtor's Counsel: Charlie Shelton, Esq.
                  HAYWARD PLLC
                  7600 Burnet Road, Suite 530
                  Austin TX 78757
                  Tel: (737) 881-7100
                  Email: cshelton@haywardfirm.com

Estimated Assets: $10 million to $50 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Mark Shen as chief executive officer.

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

https://www.pacermonitor.com/view/3POB6KQ/Westlake_Surgical_LP__txwbke-23-10747__0001.0.pdf?mcid=tGE4TAMA

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                            Nature of Claim  Claim Amount

1. Synergy Surgical, LLC                 Vendor         $1,278,176
701 E. Plano Parkway, Suite 506
Plano, TX 75074

2. Westlake Medical Center -            Landlord          $960,899
Phase II
P.O. Box 161507
Austin, TX 78716-1507

3. National Neuromonitoring              Vendor           $849,050
Services, LLC
1141 N LOOP 1604 E 105-612
San Antonio, TX 78232

4. VEP Healthcare, Inc.                  Vendor           $715,141
1001 Galaxy Way, Suite 400
Concord, CA 94520

5. Pioneer Health Systems, LLC           Vendor           $711,040
5040 Addison Circle, Suite 400
Addison, TX 75001

6. Allscripts Healthcare, LLC            Vendor           $703,868
222 Merchandise Mart Plaza
Chicago, IL 60654

7. Philips Healthcare - IPC              Vendor           $593,108
P.O. Box 100355
Atlanta, GA 30384-0355

8. Mako Surgical Corp.                   Vendor           $585,165
26545 Network Place
Chicago, IL 60673-1265

9. Zimmer Biomet - 82053                 Vendor           $575,091
75 Remittance Drive, Suite
3283
Chicago, IL 60675-3283

10. Boston Scientific Corp.              Vendor           $497,788
c/o S Jacob & Wolf, LP
116 Walcourt Loop
College Station, TX 77845

11. Nuvasive, Inc.                       Vendor           $460,394
P.O. Box 50678
Los Angeles, CA 90074-0678

12. Meditech Spine, LLC                  Vendor           $415,880
1447 Peachtree Street, Suite 440
Atlanta, GA 30309

13. Pantheon Spinal, LLC                 Vendor           $408,228
P.O. Box 161233
Austin, TX 78716

14. Westlake Emergency                   Vendor           $404,167
Physicians, PA
4535 Dressler Road NW
Canton, OH 44718

15. Medhost Direct, Inc.                 Vendor           $366,063
2739 Momentum Place
Chicago, IL 60689-532

16. Biofusion Medical                    Vendor           $363,016
2101 E. St. Elmo Road,
Building 1, Suite 100
Austin, TX 78744

17. Western Healthcare                   Vendor           $349,546
13155 Noel Road, Suite 800
Dallas, TX 75240

18. Centinel Spine, LLC                  Vendor           $332,806
P.O. Box 207368
Dallas, TX 75320-7368

19. Datex-Ohmeda, Inc.                   Vendor           $312,745
P.O. Box 641936
Pittsburgh, PA 15264-1936

20. Curiteva, Inc.                       Vendor           $299,395
25127 Will Mccomb Dr.
Tanner, AL 35671


WESTLAKE SURGICAL: Hospital Files for Chapter 11 Bankruptcy
-----------------------------------------------------------
Westlake Surgical, L.P., d/b/a The Hospital at Westlake Medical
Center, a proudly physician-owned boutique hospital that offers a
wide range of premier medical services and exceptional patient
care, on Sept. 8 disclosed that it has voluntarily initiated a
Chapter 11 proceeding in the United States Bankruptcy Court for the
Western District of Texas.

This step is part of the Hospital's ongoing efforts to manage its
significant debt burden that existed before the COVID-19 era, which
enduring post-pandemic pressures within the industry have further
exacerbated. The Hospital at Westlake intends to leverage the time
and protections afforded by the Bankruptcy Code to strategically
position the Hospital for sustained success, ensuring uninterrupted
care for its patients and Westlake Hills, Texas community for years
to come.

"At the heart of our hospital's restructuring is our unwavering
commitment to upholding the highest standards of excellence in
patient care," stated Dr. Mark Shen, CEO of The Hospital at
Westlake. "Like many of our industry peers, we've battled immense
challenges since the onset of the pandemic, which have only
magnified the struggles businesses across every industry grapple
with, including our own. Facing the stark reality of our financial
standing and the unrelenting pressures impacting our industry,
we're taking every measure possible to secure the future of our
hospital."

The Hospital will continue operating as usual and without
disruptions to patient care throughout its Chapter 11 process. All
scheduled appointments, surgeries, and emergency services will
proceed as planned, and the 24/7 Emergency Department, specialty
operating rooms, and radiology team will continue to serve patients
and the community with the same unwavering standard of exceptional
care that defines them.

In the months leading to its filing, the Hospital has made
significant efforts to withstand present-day economic challenges
and create a more sustainable platform for enduring success,
including reducing corporate overhead and consolidating
organizational processes to focus on its core service lines.
Despite the Hospital's best efforts to navigate current market
headwinds before its Chapter 11 filing, it continues to be burdened
by intensifying external pressures, including soaring inflation and
rising costs for labor, supplies, and drugs, compounded by
continued workforce shortages and the ongoing repercussions of
COVID-19 related losses. The Hospital's decision to commence these
proceedings is a critical and urgent step to address these
unsustainable industry-wide challenges, which have been detrimental
to its operations.

Dr. Shen concluded, "We are immensely grateful to our dedicated
staff and physician partners-- our true heroes; from the start of
the pandemic through the aftershocks we are still confronting,
they've navigated the most challenging times in our industry.
Through every challenge, every twist and turn, they are on the
frontline day in and day out, unwavering in their commitment to
delivering outstanding care to our patients, many of whom have
complex medical issues and rely on our specialized support. To let
them down would be a failure, and we are grateful for this
opportunity to chart a new path forward."

The Hospital at Westlake has filed a number of customary motions
with the Bankruptcy Court intended to support the continuation of
its day-to-day operations for patients, employees, vendors and
suppliers, and other valued business partners during the
court-supervised restructuring process. It expects to move through
this process as quickly and efficiently as possible, emerging with
a healthy balance sheet and strong operations for the benefit of
all stakeholders.

Additional information, including court filings and other
information related to the Chapter 11 case, is available at
www.donlinrecano.com/westlake, by calling (866) 745-0270
(Toll-Free), or by emailing inquiries to wlsinfo@drc.equiniti.com.

The Hospital is represented by the law firm of Hayward PLLC and
Paladin as restructuring advisors.

            About The Hospital at Westlake Medical Center

The Hospital at Westlake Medical Center is a proudly
physician-owned boutique hospital located in Westlake Hills, Texas,
a suburb of Austin. Guided by an unwavering commitment to
delivering quality healthcare services in a comfortable setting,
its core service areas include surgical procedures, outpatient
radiology, and a 24/7 emergency room.

Westlake Surgical, L.P. d/b/a The Hospital at Westlake Medical
Center, sought Chapter 11 protection (Bankr. W.D. Tex. Case No.
23-10747) on Sept. 8, 2023.

The Honorable Shad Robinson is the case judge.

The Debtor tapped Hayward PLLC as counsel.  Donlin, Recano &
Company, Inc., is the claims agent.


WINESTEAD LLC: Unsecureds Will Get 100% of Claims in Plan
---------------------------------------------------------
Winestead, LLC, filed with the U.S. Bankruptcy Court for the
Central District of California a Plan of Reorganization and a
Disclosure Statement on Sept. 4, 2023.

The Debtor is engaged in the business of the manufacturing and
selling of wine, along with a tasting room and restaurant, and has
been in operation since 2011 in its Newport Beach location.

The principal business, which opened in June 2016, is located at
24683 Washington Avenue, Murrieta, California 92562 ("Business").
The Business, as an LLC, has been operating since December 20,
2012. Douglas G. Wiens is the Manager, Operator and Voting Member
of the Business.

The Debtor's bankruptcy was precipitated by certain high interest
merchant finance agreements entered into by the Debtor as part of
its efforts to maintain business operations, primarily resulting
from the effects of the COVID-19 pandemic. Ultimately, despite its
best efforts, the Debtor was not able to stay current on all of
these obligations, and had to file a Chapter 11 bankruptcy petition
on November 8, 2022.

This is a reorganizing plan. In other words, Winestead seeks to
accomplish payments under the Plan by making payments to its
creditors over time with interest, and thus pay them in full on
account of their allowed claims.

Class 6 consists of all general unsecured claims against the Debtor
not otherwise classified. All claims within this class will be
satisfied in full, with interest at the federal judgment rate set
per Section 1961 of the Bankruptcy Code on each unpaid balance
starting from the Petition Date, within 72 months of the Effective
Date. Class 6 is impaired.

Starting in the 19th full calendar month after the Effective Date,
the Debtor will distribute a minimum of $10,000 per month to
allowed creditor claims within this class until they are paid in
full. There is no maximum amount which may be so distributed in a
given month, up to the full remaining amount of all such claims
with interest as stated above. Any prior stipulations for treatment
between the Debtor and any such creditors are superseded in favor
of the terms of this Plan. All such claims must be paid in full
within 72 months after the Effective Date. The allowed unsecured
claims total $357,115.67. This Class will receive a distribution of
100% of their allowed claims.

Class 7 consists of all unsecured claims against the Debtor which
are held by insiders. The only claim believed to be in this class
is that of Deborah Israel for $245,584.00. All claims within this
class will be satisfied in full, with interest at the federal
judgment rate set per Section 1961 of the Bankruptcy Code on each
unpaid balance starting from the Petition Date, within 84 months of
the Effective Date. No distribution will be made on any Class 7
claims until all allowed administrative, priority and Class 5
claims are satisfied in full with regard to their treatment under
this Plan. Class 7 is impaired.

Class 8 consists of the equity interests in the Debtor, which will
be left unaffected by this Plan. Class 8 interests are not
impaired.

The funds for implementation of the Plan shall come from the funds
held by the estate as of the entry of the Confirmation Order and
the ongoing operating profits of the Debtor's business operations.
In addition, as of the Effective Date, Wiens will contribute an
additional $100,000 to the Debtor, to assist it with emerging from
bankruptcy and establishing a strong record of compliance with the
Plan as its business improves.

A full-text copy of the Disclosure Statement dated September 4,
2023 is available at https://urlcurt.com/u?l=2JEv0f from
PacerMonitor.com at no charge.

Proposed Attorney for the Debtor:

     Stuart J. Wald, Esq.
     Law Offices of Stuart J. Wald
     26583 Calle Gregorio
     Menifee, California 92585
     Telephone: (310) 429-3554
     E-mail: stuart.wald@gmail.com

                      About Winestead LLC

Winestead, LLC is a local boutique winery in Newport Beach offering
wine made with the finest grapes sourced from Temecula Valley, Paso
Robles and Lodi, Calif.

Winestead filed a petition for relief under Chapter 11 of the
Bankruptcy Code (Bankr. C.D. Cal. Case No. 22-14222) on Nov. 8,
2022.  In the petition filed by its manager, Douglas G. Weins, the
Debtor reported assets between $500,000 and $1 million and
liabilities between $1 million and $10 million.

Judge Mark Houle oversees the case.

The Debtor tapped Robert B Rosenstein, Esq., at Rosenstein &
Associates as legal counsel, and Global Tax & Accounting, Inc., as
accountant.


WORKSITE LABS: $2.9MM DIP Loan from AB Lending OK'd
---------------------------------------------------
The U.S. Bankruptcy Court for the Central District of California,
Los Angeles Division, entered a second interim order authorizing
Worksite Labs, Inc. to obtain postpetition financing and use cash
collateral on an interim basis in accordance with the budget,
through October 13, 2023.

The Debtor said in court papers it obtained postpetition financing
up to the principal amount of $2.9 million, minus the amount of
prepetition debt outstanding, from AB Lending SPV I, LLC, a
Delaware limited liability company, on a senior secured,
super-priority basis pursuant to the terms of a Term Sheet.  The
Debtor owed about $1.7 million in prepetition debt to AB Lending,
dba Mountain Ridge Capital.

The Debtor will use the DIP loan to: (a) fund, among other things,
ongoing working capital, general corporate, and other financing
needs of the Debtor, (b) pay certain transaction fees, and other
costs and expenses of administration of the Debtor's bankruptcy
case, and (c) pay fees expenses owed to the Lender pursuant to the
Term Sheet.

The maturity date of the DIP Facility will be -- and all of the DIP
Obligations will be repaid by the Debtor in full, in cash -- on the
earliest of:

     (i) the stated maturity, which will be July 26, 2024;

    (ii) the date of termination of the DIP Facility or commitment
thereunder;

   (iii) the effective date of a confirmed plan of reorganization
or liquidation for the Debtor;

    (iv) the date that is 45 days after the entry of the Interim
Financing Order if the Final Financing Order has not been entered
by such date; and

     (v) the acceleration of the loans under the DIP Facility or
termination of the commitments under the DIP Facility, including,
without limitation, as a result of the occurrence of an Event of
Default.

The DIP facility has an interest rate of 25% per annum.

MRC and Lendspark assert an interest in the Debtor's cash
collateral.  MRC, being the senior secured creditor, has agreed to
the proposed financing terms. The Debtor is informed that there is
an intercreditor agreement between MRC and Lendspark.

As adequate protection for the use of cash collateral, all secured
creditors will receive replacement liens on the Debtor's
post-petition assets with the same validity, extent and priority as
they were entitled to immediately prior to the bankruptcy filing,
subject to the provisions of the DIP Loan and the terms of the
Order.

Certain Events of Default have occurred under the DIP Loan
Documents since the entry of the First Interim Order on July 28:

     (1) The aggregate amount of Nonappealable Accounts exceeded
54% of all Accounts (excluding Uncollectable Accounts), as
acknowledged by the Debtor on August 17; and

     (2) The Debtor's actual "Total Receipts" varied from the
Budget by more than 10%, as acknowledged by the Debtor on August
24.

The Lender is authorized to continue providing post-petition
financing under the DIP Loan notwithstanding the Specified Events
of Default; provided, that any funds advanced by the Lender in
connection with the DIP Loan will not constitute a waiver by the
Lender of the Specified Events of Default, and the Lender and
Debtor reserve all their respective rights with respect thereto
under the DIP Loan Documents and applicable law.

A continued hearing on the matter is set for October 10, 2023 at 11
a.m.

A copy of the Second Interim Order is available at
https://urlcurt.com/u?l=Z5hrpH from PacerMonitor.com.

                        About Worksite Labs

Worksite Labs, Inc., a company in Long Beach, Calif., filed its
voluntary Chapter 11 petition (Bankr. C.D. Calif. Case No.
23-14539) on July 20, 2023. Gary Frazier, chief executive officer,
signed the petition.

In its schedules filed with the Court, the Debtor listed
$11,756,902 in total assets and $7,398,516 in total liabilities.

Judge Vincent P. Zurzolo oversees the case.

The Debtor tapped Levene, Neale, Bender, Yoo & Golubchik, LLP as
bankruptcy counsel; Reliance Group, LLP as corporate counsel; and
Carlson & Jayakumar, LLP as healthcare regulatory counsel.


WRIGHT EXCAVATING: Court OKs Interim Cash Collateral Access
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Tennessee,
Northeastern Division at Greenville, authorized Wright Excavating,
Inc. to use cash collateral on an interim basis in accordance with
the budget, with a 10% variance.

The Debtor is permitted to use cash collateral for payment of: (i)
allowed professional fees and disbursements to the Debtor's
professionals in this case, including the Subchapter V Trustee, and
(ii) any fees payable to the Clerk of the Bankruptcy Court.

U.S. Small Business Association has has been identified as
asserting a lien on Debtor's cash collateral.

As adequate protection, the Secured Creditor will receive a
replacement security interest under 11 U.S.C. Section 361 (2) in
the Debtor's post- petition property and proceeds thereof, to the
same extent and priority as their purported security interest in
the Debtor's pre- petition property and the proceeds thereof.

The replacement liens and security interests granted will be deemed
perfected upon entry of the Order without the necessity of the
Secured Creditors taking possession of any collateral or filing
financing statements or other documents.

The Debtor will keep its assets insured by reasonable and
sufficient insurance coverage as required by the terms of any loan
documents executed by the Debtor in favor of the Secured Creditors,
and will, upon request and reasonable notice, provide the Secured
Creditors reasonable information to allow them it to determine the
extent to which the Debtor is complying with the Cash Collateral
Budget.

The Debtor is granted a carve-out and authority to use cash
collateral for payment of: (i) allowed professional fees and
disbursements to professionals whose employment has been approved
by the Court; (ii) allowed fees and disbursements, including monies
to be escrowed, to the Subchapter V Trustee appointed in this case;
and (iii) any fees payable to the Clerk of the Bankruptcy Court.

The final hearing on the matter is set for September 26 at 2:30
p.m.

A copy of the court's order and the Debtor's budget is available at
https://urlcurt.com/u?l=5sksKF from PacerMonitor.com.

The Debtor projects $39,987 in total income and $22,689 in total
expenses for the period from September 1 to 15, 2023.

                   About Wright Excavating, Inc.

Wright Excavating, Inc. sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. E.D. Tenn. Case No. 23-50904) on
August 25, 2023. In the petition signed by Carson Todd Wright,
president/sole SH, the Debtor disclosed up to $10 million in both
assets and liabilities.

Judge Rachel Ralston Mancl oversees the case.

Charles Parks Pope, Esq., at the Pope Firms, P.C., represents the
Debtor as legal counsel.


WRIGHT EXCAVATING: M. Aaron Spencer Named Subchapter V Trustee
--------------------------------------------------------------
The Acting U.S. Trustee of Region 8 appointed M. Aaron Spencer at
Woolf, McClane, Bright, Allen & Carpenter, PLLC as Subchapter V
trustee for Wright Excavating, Inc.

Mr. Spencer will be paid an hourly fee of $295 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred  

Mr. Spencer declared that he is a disinterested person according to
Section 101(14) of the Bankruptcy Code.

The Subchapter V trustee can be reached at:

     M. Aaron Spencer
     Woolf, McClane, Bright, Allen & Carpenter, PLLC
     Post Office Box 900
     Knoxville, TN 37901-0900
     Phone: (865) 215-1000 | Fax: (865) 215-1001
     Email: aspencer@wmbac.com

                      About Wright Excavating

Wright Excavating, Inc. filed a petition under Chapter 11,
Subchapter V of the Bankruptcy Code (Bankr. E.D. Tenn. Case No.
23-50904) on Aug. 25, 2023, with $1 million to $10 million in both
assets and liabilities. Carson Todd Wright, president, signed the
petition.

Charles Parks Pope, Esq., at The Pope Firm, P.C. represents the
Debtor as legal counsel.


YUNHONG CTI: Changes Name to 'Yunhong Green CTI Ltd.'
-----------------------------------------------------
Yunhong CTI Ltd. filed with the Secretary of State of the State of
Illinois Articles of Amendment to its Articles of Incorporation
to:

   1. Change the Company's name from Yunhong CTI Ltd. to Yunhong
Green CTI Ltd.; and

   2. Increase the number of the Company's authorized shares of
common stock, no par value per share, from 50,000,000 to
2,000,000,000.

The Name Change and the Authorized Shares Increase were each
approved at the Company's annual shareholders meeting held on
Monday Aug. 28, 2023.  The Company also amended and restated its
By-laws effective Aug. 29, 2023, solely to reflect the Name
Change.

The Company's stock symbol remains "CTIB", but the Company has
reserved the symbol "YHGJ" and intends to adopt that symbol in the
coming months.  The CUSIP for the Common Stock remains 98873Q 100.

                           About Yunhong CTI

Lake Barrington, Illinois-based Yunhong CTI Ltd. --
www.ctiindustries.com -- develops, produces, distributes and sells
a number of consumer products throughout the United States and in
over 30 other countries, and it produces film products for
commercial and industrial uses in the United States. Many of the
Company's products utilize flexible films and, for a number of
years, it has been a leading developer of innovative products which
employ flexible films including novelty balloons, pouches and films
for commercial packaging applications.

Yunhong CTI reported a net loss of $1.47 million for the 12 months
ended Dec. 31, 2022, compared to a net loss of $7.55 million for
the 12 months ended Dec. 31, 2021. As of Dec. 31, 2022, the Company
had $15.28 million in total assets, $12.54 million in total
liabilities, and $2.75 million in total stockholders' equity.

Lakewood, CO-based BF Borgers CPA PC, the Company's auditor since
2022, issued a "going concern" qualification in its report dated
April 12, 2023, citing that the Company's significant operating
losses raise substantial doubt about its ability to continue as a
going concern.


[*] Judge Curley to Receive American Inns of Court Bankruptcy Award
-------------------------------------------------------------------
Sarah Sharer Curley has been selected to receive the prestigious
2023 American Inns of Court Bankruptcy Distinguished Service Award,
which recognizes a judge or attorney specializing in bankruptcy law
who has exhibited ongoing dedication to the highest standards of
the legal profession, the rule of law, and personal ethics and
integrity. The first woman appointed to be a bankruptcy judge in
Arizona and first woman to serve as chief judge, Curley served as a
judge for the U.S. Bankruptcy Court in the District of Arizona from
1986 until her retirement in 2014. Curley will receive the award at
the National Conference of Bankruptcy Judges in Austin, Texas, in
October.

While a judge, Curley led the creation of a bankruptcy court
self-help center to assist pro se litigants in getting legal advice
from volunteer attorneys. Since then, the center has grown in both
size and capacity and now has paid office staff. When Curley
retired from the bench, colleagues honored her by establishing the
Honorable Sarah Sharer Curley Self Help Center Award, which honors
a Phoenix bankruptcy attorney for extraordinary contributions and
service to the center.

Curley has also been a leader in the American Inns of Court
movement. A member of the Lorna Lockwood American Inn of Court from
1995 to 2001, Curley helped found the Arizona Bankruptcy American
Inn of Court in 2011 and became its first president. She is still
an honorary member of the Inn's executive committee. "She drives
attendance, program substance, and creativity and spends countless
hours mentoring lawyers (young and old, male and female, big firm
and small firm, consumer and commercial)," write Judges Madeleine
Wanslee and Daniel Collins of the U.S. Bankruptcy Court for the
District of Arizona. "Judge Curley is one of the principal reasons
our local Inn has remained vibrant since its inception."

Curley's devotion to educating other judges and lawyers extends
beyond the Inn. In 2014, she wrote The Bankruptcy Card and How to
Play It. Published by the National Association of Women Judges, the
resource offers guidance to nonbankruptcy judges addressing
bankruptcy issues after the enactment of the Bankruptcy Abuse
Prevention and Consumer Protection Act. She now writes a blog
discussing important legal issues.

Curley earned an undergraduate degree in American history from
Mount Holyoke College, then earned a cum laude law degree from New
York Law School, where she was a member of the Law Review.

The American Inns of Court, headquartered in Alexandria, Virginia,
inspires the legal community to advance the rule of law by
achieving the highest level of professionalism through example,
education, and mentoring. The organization's membership includes
nearly 30,000 federal, state, and local judges; lawyers; law
professors; and law students in more than 360 chapters nationwide.
More information is available at www.innsofcourt.org.



[*] Two Industry Veterans Join Tiger's Valuation Services Division
------------------------------------------------------------------
Tiger Group has expanded its offering for asset-based lenders by
hiring two industry veterans with decades of combined experience in
field examinations and related services.

The move makes Tiger's Valuation Services division a one-stop shop
for ABLs in need of field exams, monitoring, new loan surveys,
specialized procedures, inventory test counts, and more.  "By
combining appraisal and field-exam services, Tiger is giving
borrowers and lenders alike a more seamless and holistic
experience," noted Ryan Davis, Executive Managing Director, Tiger
Valuation Services.

Joining Tiger as Senior Managing Directors are veteran field
examiners Katherine Houser-Rodriguez and Stephen Savage, both of
whom previously worked for one of the country's largest asset-based
lenders, Wells Fargo.

Ms. Houser-Rodriguez brings to the table years of diverse
experience in structured finance, commercial finance, commercial
banking, due diligence, regulatory/compliance matters, and
cash-flow lending. Most recently, she was partner of Infinity ABL
Services, co-leading a team of quality third-party field examiners.
Prior to that, Ms. Houser-Rodriguez was the National Field Exam
Manager for the commercial bank within Wells Fargo, where she
managed a team of 50 collateral examiners, management, and
administrative staff. She has completed multiple professional
training courses through the CFA-Field Examiner School and
CFA-Inventory Finance Workshop.

Mr. Savage has held various field exam-related management positions
throughout his career in the asset-based and middle-market banking
sector, with extensive collateral experience through performing
field examinations and managing these teams. Prior to co-founding
Infinity ABL Services, Mr. Savage served as the National Field Exam
Manager for Wells Fargo Capital Finance. His experience includes
overseeing hundreds of internal field examiners, management, as
well as the outsource function of approximately 50 contract firms.


"For more than a decade, members of Tiger's valuation division have
worked on a number of projects with Kat and Steve, with a number of
common customers, and have always been impressed by their
knowledge, drive, professionalism and attention to detail," noted
Bill Mayer, Executive Managing Director, Tiger Group.

"Kat has experience in virtually every industry and segment of
asset-based lending and is a deep subject matter expert with
respect to field examinations and collateral," Mr. Mayer continued.
"Steve brings broad experience and an unrelenting focus to
everything he does, from field examinations, to logistics and
technology."

The benefits of one firm providing exam and appraisal services are
many, Mr. Davis noted. "Lenders interact with a single company for
simplified communications and efficiency," he explained. "For
borrowers, it means avoiding time-consuming duplication of data
requests, interviews, tours, test counts and the like, as can
happen when the appraisal and field-exam teams are separate."

Joint access to Tiger's robust data analytics platform and internal
team of "quants" also provides accretive benefits at a time when
market shifts are spurring reassessments of borrower health and
collateral value, Mr. Davis added. "Both field examinations and
appraisals have been trending toward the analytics-based approaches
that have been a major focus for Tiger over the past several
years."



[^] BOND PRICING: For the Week from September 4 to 8, 2023
----------------------------------------------------------

  Company                  Ticker   Coupon  Bid Price    Maturity
  -------                  ------   ------  ---------    --------
99 Escrow Issuer Inc       NDN       7.500     38.319   1/15/2026
99 Escrow Issuer Inc       NDN       7.500     38.301   1/15/2026
99 Escrow Issuer Inc       NDN       7.500     38.301   1/15/2026
Acorda Therapeutics Inc    ACOR      6.000     64.440   12/1/2024
Air Methods Corp           AIRM      8.000      1.000   5/15/2025
Air Methods Corp           AIRM      8.000      0.598   5/15/2025
Amyris Inc                 AMRS      1.500     12.425  11/15/2026
Audacy Capital Corp        CBSR      6.750      0.999   3/31/2029
Audacy Capital Corp        CBSR      6.500      0.983    5/1/2027
Audacy Capital Corp        CBSR      6.750      1.158   3/31/2029
BPZ Resources Inc          BPZR      6.500      3.017    3/1/2049
Bed Bath & Beyond Inc      BBBY      5.165      0.404    8/1/2044
Bed Bath & Beyond Inc      BBBY      4.915      0.740    8/1/2034
Biora Therapeutics Inc     BIOR      7.250     54.571   12/1/2025
Boeing Capital Corp        BA        6.782    100.031   9/15/2023
Boingo Wireless Inc        WIFI      1.000     93.125   10/1/2023
Brixmor LLC                BRX       6.900      9.875   2/15/2028
Cano Health LLC            CANHEA    6.250     30.335   10/1/2028
Cano Health LLC            CANHEA    6.250     29.881   10/1/2028
Citigroup Global
  Markets Holdings
  Inc/United States        C         4.298     95.208   9/28/2023
Clovis Oncology Inc        CLVS      1.250     10.375    5/1/2025
Clovis Oncology Inc        CLVS      4.500      9.774    8/1/2024
Clovis Oncology Inc        CLVS      4.500      9.457    8/1/2024
Curo Group Holdings Corp   CURO      7.500     23.969    8/1/2028
DIRECTV Holdings
  LLC / DIRECTV
  Financing Co Inc         DTV       6.000     15.613   8/15/2040
DIRECTV Holdings
  LLC / DIRECTV
  Financing Co Inc         DTV       6.350      7.093   3/15/2040
Danimer Scientific Inc     DNMR      3.250     34.646  12/15/2026
Diamond Sports Group
  LLC / Diamond
  Sports Finance Co        DSPORT    5.375      2.438   8/15/2026
Diamond Sports Group
  LLC / Diamond
  Sports Finance Co        DSPORT    6.625      2.125   8/15/2027
Diamond Sports Group
  LLC / Diamond
  Sports Finance Co        DSPORT    5.375      2.359   8/15/2026
Diamond Sports Group
  LLC / Diamond
  Sports Finance Co        DSPORT    5.375      2.732   8/15/2026
Diamond Sports Group
  LLC / Diamond
  Sports Finance Co        DSPORT    6.625      2.000   8/15/2027
Diamond Sports Group
  LLC / Diamond
  Sports Finance Co        DSPORT    5.375      2.359   8/15/2026
Diamond Sports Group
  LLC / Diamond
  Sports Finance Co        DSPORT    5.375      2.732   8/15/2026
DocuSign Inc               DOCU      0.500    100.590   9/15/2023
Endo Finance LLC /
  Endo Finco Inc           ENDP      5.375      5.000   1/15/2023
Endo Finance LLC /
  Endo Finco Inc           ENDP      5.375      5.000   1/15/2023
Energy Conversion
  Devices Inc              ENER      3.000      0.551   6/15/2013
Envision Healthcare Corp   EVHC      8.750      3.250  10/15/2026
Envision Healthcare Corp   EVHC      8.750      2.922  10/15/2026
Exela Intermediate LLC /
  Exela Finance Inc        EXLINT   11.500     18.500   7/15/2026
Exela Intermediate LLC /
  Exela Finance Inc        EXLINT   11.500     18.136   7/15/2026
Federal Home Loan Banks    FHLB      0.500     95.950  11/24/2023
First Republic Bank/CA     FRCB      4.375      0.239    8/1/2046
First Republic Bank/CA     FRCB      4.625      0.500   2/13/2047
Ford Motor Credit Co LLC   F         7.110     98.859   9/20/2023
GNC Holdings Inc           GNC       1.500      0.418   8/15/2020
Goodman Networks Inc       GOODNT    8.000      1.000   5/31/2022
H-Food Holdings
  LLC / Hearthside
  Finance Co Inc           HEFOSO    8.500     39.873    6/1/2026
H-Food Holdings
  LLC / Hearthside
  Finance Co Inc           HEFOSO    8.500     39.746    6/1/2026
Hallmark Financial
  Services Inc             HALL      6.250     19.690   8/15/2029
Inseego Corp               INSG      3.250     40.171    5/1/2025
Invacare Corp              IVC       5.000     83.125  11/15/2024
Invacare Corp              IVC       4.250      2.102   3/15/2026
JPMorgan Chase Bank NA     JPM       2.000     81.892   9/10/2031
JPMorgan Chase
  Financial Co LLC         JPM       3.500     98.134   9/18/2023
Lightning eMotors Inc      ZEV       7.500      9.500   5/15/2024
MBIA Insurance Corp        MBI      16.830      2.020   1/15/2033
MBIA Insurance Corp        MBI      16.932      2.000   1/15/2033
Macquarie Infrastructure
  Holdings LLC             MIC       2.000     97.499   10/1/2023
Macy's Retail Holdings     M         6.700     82.056   7/15/2034
Macy's Retail Holdings     M         6.900     85.906   1/15/2032
Macy's Retail Holdings     M         7.875     93.637    3/1/2030
Macy's Retail Holdings     M         7.875     93.637    3/1/2030
Mashantucket Western
  Pequot Tribe             MASHTU    7.350     41.250    7/1/2026
Morgan Stanley             MS        1.800     71.771   8/27/2036
NOA Bancorp Inc            NOABAN    6.700     92.715   11/1/2028
NOA Bancorp Inc            NOABAN    6.700     92.715   11/1/2028
National CineMedia LLC     NATCIN    5.750      5.000   8/15/2026
New York Community
  Bancorp Inc              NYCB      5.900     93.851   11/6/2028
OMX Timber Finance
  Investments II LLC       OMX       5.540      0.850   1/29/2020
Party City Holdings Inc    PRTY      8.750     15.125   2/15/2026
Party City Holdings Inc    PRTY     10.821     12.710   7/15/2025
Party City Holdings Inc    PRTY      6.625      0.895    8/1/2026
Party City Holdings Inc    PRTY      8.750     15.000   2/15/2026
Party City Holdings Inc    PRTY      6.625      0.895    8/1/2026
Party City Holdings Inc    PRTY     10.821     12.710   7/15/2025
PeoplesBancorp MHC         PEOPBC    5.375     90.867  11/15/2028
PeoplesBancorp MHC         PEOPBC    5.375     90.867  11/15/2028
Photo Holdings
  Merger Sub Inc           SFLY      8.500     46.765   10/1/2026
Photo Holdings
  Merger Sub Inc           SFLY      8.500     46.765   10/1/2026
Porch Group Inc            PRCH      0.750     36.000   9/15/2026
Radiology Partners Inc     RADPAR    9.250     38.112    2/1/2028
Radiology Partners Inc     RADPAR    9.250     38.556    2/1/2028
Renco Metals Inc           RENCO    11.500     24.875    7/1/2003
Rite Aid Corp              RAD       7.700     11.078   2/15/2027
Rite Aid Corp              RAD       7.500     62.471    7/1/2025
Rite Aid Corp              RAD       6.875     20.430  12/15/2028
Rite Aid Corp              RAD       6.875     20.430  12/15/2028
RumbleON Inc               RMBL      6.750     42.981    1/1/2025
SBL Holdings Inc           SECBEN    7.000     60.000         N/A
SBL Holdings Inc           SECBEN    7.000     62.625         N/A
SVB Financial Group        SIVB      4.000      4.001         N/A
SVB Financial Group        SIVB      4.100      5.500         N/A
SVB Financial Group        SIVB      4.700      4.005         N/A
SVB Financial Group        SIVB      4.250      5.000         N/A
Shift Technologies Inc     SFT       4.750      9.437   5/15/2026
Signature Bank/
  New York NY              SBNY      4.000      2.000  10/15/2030
Signature Bank/
  New York NY              SBNY      4.125      2.000   11/1/2029
Talen Energy Supply LLC    TLN      10.500     34.750   1/15/2026
Talen Energy Supply LLC    TLN       6.500     35.298    6/1/2025
Talen Energy Supply LLC    TLN       6.500     23.125   9/15/2024
Talen Energy Supply LLC    TLN      10.500     34.750   1/15/2026
Talen Energy Supply LLC    TLN       7.000     23.125  10/15/2027
Talen Energy Supply LLC    TLN       6.500     23.125   9/15/2024
Talen Energy Supply LLC    TLN      10.500     34.750   1/15/2026
TerraVia Holdings Inc      TVIA      5.000      4.644   10/1/2019
Tricida Inc                TCDA      3.500     10.534   5/15/2027
US Renal Care Inc          USRENA   10.625     39.418   7/15/2027
US Renal Care Inc          USRENA   10.625     39.950   7/15/2027
UpHealth Inc               UPH       6.250     40.500   6/15/2026
Veritone Inc               VERI      1.750     34.500  11/15/2026
Voya Financial Inc         VOYA      6.125    101.220         N/A
WeWork Cos Inc             WEWORK    7.875      5.612    5/1/2025
WeWork Cos Inc             WEWORK    7.875      6.859    5/1/2025
WeWork Cos LLC /
  WW Co-Obligor Inc        WEWORK    5.000     11.375   7/10/2025
WeWork Cos LLC /
  WW Co-Obligor Inc        WEWORK    5.000     11.250   7/10/2025
Wesco Aircraft Holdings    WAIR      9.000      9.500  11/15/2026
Wesco Aircraft Holdings    WAIR      8.500      4.000  11/15/2024
Wesco Aircraft Holdings    WAIR     13.125      7.750  11/15/2027
Wesco Aircraft Holdings    WAIR      8.500      4.047  11/15/2024
Wesco Aircraft Holdings    WAIR      9.000      9.767  11/15/2026
Wesco Aircraft Holdings    WAIR     13.125      4.562  11/15/2027
Zions Bancorp NA           ZION      7.200     95.750         N/A



                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
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Each Friday's edition of the TCR includes a review about a book of
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Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

TCR subscribers have free access to our on-line news archive.
Point your Web browser to http://TCRresources.bankrupt.com/and use
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                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Philadelphia, Pa., USA.
Randy Antoni, Jhonas Dampog, Marites Claro, Joy Agravante,
Rousel Elaine Tumanda, Joel Anthony G. Lopez, Psyche A. Castillon,
Ivy B. Magdadaro, Carlo Fernandez, Christopher G. Patalinghug, and
Peter A. Chapman, Editors.

Copyright 2023.  All rights reserved.  ISSN: 1520-9474.

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